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July 14 (Asia Today) — The U.S. Navy has asked major South Korean shipbuilders for information about their ability to design and build destroyers and fleet support vessels, potentially opening the world’s largest naval market to South Korea’s shipbuilding industry.

The requests for information mark a significant step in Washington’s effort to address shipyard capacity constraints and strengthen its maritime industrial base with help from key allies.

The development comes as South Korea and the United States expand cooperation under MASGA, short for Make American Shipbuilding Great Again, a bilateral initiative intended to revitalize U.S. shipbuilding through investment, workforce development, technology cooperation and naval vessel maintenance.

The prospective U.S. market could dwarf South Korea’s recent efforts to win Canada’s next-generation submarine program, estimated by the industry at about 60 trillion won, or approximately $43 billion. Long-term U.S. naval construction and modernization spending could reach about 1.6 quadrillion won, or roughly $1.2 trillion, according to industry estimates cited in South Korea.

U.S. Navy examines Korean shipbuilding capacity

Naval News reported Friday that the U.S. government had issued two requests for information involving destroyer-class surface combatants and medium-sized fleet tankers.

HD Hyundai Heavy Industries and Hanwha Ocean responded to requests covering both destroyers and support vessels. Samsung Heavy Industries submitted information concerning fleet replenishment ships, an area in which it has extensive commercial tanker-building experience.

A request for information is an early market-research procedure rather than a formal order or bidding process. It allows a U.S. government agency to assess potential suppliers, technical capabilities, prices and delivery schedules before deciding whether to proceed with a procurement program.

The inquiries are nevertheless notable because U.S. law and defense procurement rules generally require Navy vessels and major hull components to be built in American shipyards.

Changes to existing law or a congressionally approved national security exemption would probably be required before a U.S. warship could be constructed at a South Korean yard.

The outreach reflects growing concern about delays, workforce shortages and limited production capacity within the U.S. shipbuilding industry. The U.S. Government Accountability Office has repeatedly reported that Navy shipbuilding programs are running years behind schedule and billions of dollars over budget.

U.S. policymakers are also seeking ways to respond to China’s rapidly expanding naval and commercial shipbuilding capacity.

Korean companies highlight destroyer experience

HD Hyundai Heavy Industries and Hanwha Ocean have experience designing and constructing some of the South Korean Navy’s most advanced surface combatants.

South Korea’s Sejong the Great-class and Jeongjo the Great-class destroyers use the U.S.-developed Aegis combat system, which is also installed aboard the U.S. Navy’s Arleigh Burke-class destroyers.

That experience could make South Korean shipbuilders attractive partners in vessel design, component manufacturing or joint production, although U.S. technical, security and domestic-content requirements would remain major obstacles.

South Korea’s latest Aegis destroyers displace more than 8,000 tons and incorporate advanced radar, missile defense and stealth-related technologies.

HD Hyundai Heavy Industries has also been developing export-oriented destroyer designs and has pursued partnerships with U.S. defense contractors and shipbuilders.

Hanwha Ocean has established a direct foothold in the United States through its acquisition of Philly Shipyard in Pennsylvania. The company has announced plans to expand the yard’s capacity and introduce South Korean production technology.

The company has also completed maintenance work on U.S. Military Sealift Command support ships at its Geoje shipyard in South Korea.

The USNS Wally Schirra, a Lewis and Clark-class dry cargo and ammunition ship, entered the Geoje facility in September 2024 for maintenance, repair and overhaul work. The ship departed after approximately six months of repairs.

Such projects allow South Korean yards to demonstrate their ability to meet U.S. Navy technical standards and delivery requirements, while helping Washington reduce maintenance backlogs.

MASGA moves from proposal to implementation

The Navy inquiries come as the two governments seek to turn MASGA into a broader industrial partnership.

South Korea proposed the initiative as part of trade and security negotiations with the Trump administration. The package includes investment in American shipyards, training for U.S. workers, supply-chain development and maintenance services for U.S. naval vessels.

South Korea and the United States signed a memorandum in May establishing a bilateral shipbuilding partnership initiative and plans for a Korea-U.S. Shipbuilding Partnership Center in Washington.

The program is expected to support cooperation among government agencies, shipbuilders, research institutions and equipment suppliers in both countries.

U.S. officials have increasingly acknowledged South Korea’s mass-production capabilities. U.S. Army Secretary Daniel Driscoll praised South Korean defense manufacturing during a congressional hearing in April, citing Hanwha as an example of an effective industrial production model.

The U.S. administration has also pushed for faster construction of commercial and naval vessels as part of its effort to restore the country’s maritime industrial capacity.

Legal and political barriers remain

Despite the growing cooperation, an RFI does not guarantee that South Korean shipyards will receive orders for U.S. Navy vessels.

Congress would have to address laws that restrict foreign construction of naval vessels. U.S. labor unions and domestic shipbuilders could also resist proposals they believe would transfer American jobs or defense production overseas.

A possible compromise could involve South Korean companies investing in U.S. yards, supplying ship components or jointly constructing vessels in both countries rather than building complete American warships in South Korea.

South Korean shipbuilders could also provide designs and production management systems while final assembly takes place at an American facility.

Industry specialists said the South Korean government will need a coordinated strategy involving the presidential office, defense and industry ministries and diplomatic officials if Korean companies are to secure a meaningful role.

They said technical competitiveness alone may not be sufficient because major defense contracts are also shaped by alliance politics, domestic employment considerations and long-term security relationships.

South Korean companies recently faced difficulties in European and Canadian defense competitions despite offering competitive prices, technology and local production plans.

The prospective U.S. programs therefore represent both a major commercial opportunity and a test of Seoul’s ability to coordinate industrial policy with security diplomacy.

For South Korean shipbuilders, the immediate goal is not necessarily the full construction of U.S. destroyers at Korean yards. Securing design work, component orders, maintenance contracts or joint-production projects would still mark an important expansion of the country’s naval defense industry.

The Navy’s decision to formally examine South Korean capabilities indicates that cooperation once considered politically difficult is now under active consideration.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260714010005100

July 14 (UPI) — The Wisconsin Elections Commission has sent two complaints to prosecutors accusing businessman Elon Musk of violating anti-bribery law when he gave out millions to people to encourage them to vote last year.

The bipartisan commission voted 5-1 to forward the complaints to the Brown County District Attorney, WISN-TV in Milwaukee reported.

Musk’s American PAC wrote $1 million checks to two voters in the 2025 election as part of tens of millions he invested in the failed campaign of conservative Brad Schimel, who sought a seat on the Wisconsin Supreme Court. He lost to Susan Crawford, a liberal, who previously served as a circuit court judge in Dane County.

Musk also gave out other prizes ranging from $20 to $100 for those who signed the “Petition in Opposition to Activist Judges,” Forbes reported.

The commission said Musk’s post on X offering $ 1 million to those who voted in the Wisconsin Supreme Court election to induce them to vote showed probable cause that he violated state election law banning bribery.

European champions Spain beat France with controlled display to book final against Argentina or England.

Spain snuffed out France’s dream of a third World Cup triumph, taming their galaxy of forwards to win 2-0 and progress to a final against England or Argentina.

Didier Deschamps’ men were hot favourites for the trophy after a string of breathtaking displays in the United States but they met their match against the slick European champions at the semifinal stage on Tuesday.

Mikel Oyarzabal opened the scoring for the 2010 winners with an emphatic penalty in the first half in Arlington, Texas, and Pedro Porro doubled their lead in the second half.

Shell-shocked France could not find a way back into the match despite their wealth of attacking riches.

The game at the Dallas Stadium caught fire midway through the first half when Salvadoran referee Ivan Barton pointed to the penalty spot after a reckless challenge by France left-back Lucas Digne on Spain winger Lamine Yamal.

Oyarzabal hammered the ball past France goalkeeper Mike Maignan for his fifth goal of the World Cup to leave France trailing for the first time in the tournament.

Minutes later they suffered another blow when centre-back William Saliba had to leave the pitch after a recurrence of his lower back injury, replaced by Crystal Palace defender Maxence Lacroix.

Spain went agonisingly close to extending their lead after some dazzling one-touch football but Dayot Upamecano’s challenge denied Fabian Ruiz.

France finished the half without a single shot on target, and just two attempts overall.

Deschamps threw on Desire Doue for Bradley Barcola in the 57th minute in a bid to supercharge his attack but a minute later they were 2-0 down after a stunning team goal for Luis de la Fuente’s men.

Defender Porro delivered a sharp pass to the feet of Dani Olmo on the edge of the box and collected the return ball before coolly slotting past Maignan.

Deschamps threw on Theo Hernandez and Rayan Cherki after the second hydration break in a desperate bid to get back into the match.

But France could not find a way back into the game against solid opponents who refused to yield.

Spain have conceded just once in the entire tournament, combining defensive steel with the trickery of winger Yamal in attack.

They are now just 90 minutes away from winning the first-ever 48-team World Cup as they seek to match the achievement of Vicente del Bosque’s team 16 years ago.

Defeat in Texas is a bitter blow for a France team that has enthralled fans at the World Cup in Canada, Mexico and the United States.

France had reached the past two World Cup finals, winning in 2018 in Russia and losing on penalties to Lionel Messi’s Argentina four years ago in Qatar in an epic final despite a hat-trick from Mbappe.

Real Madrid forward Mbappe was just one cog in a star-studded attack that also included Ballon d’Or winner Ousmane Dembele and the elegant Michael Olise.

Defeat leaves just the third-place playoff for France coach Didier Deschamps, who is stepping down after the tournament following 14 years in charge.

Meanwhile, Porro told Television Espanola that the victory was a “dream come true”/

“This is all down to the team, I can’t take credit. I just congratulate everyone as they played great games,” he said.

“We knew that to get close to the final we needed to have the ball. We knew that to counter their strengths was key. And we did that. So we’re really happy.”

July 14 (UPI) — Chesley “Sully” Sullenberger, the pilot who safely landed an airliner in New York City’s Hudson River in 2009, announced Tuesday that he’s been diagnosed with Alzheimer’s disease.

He revealed the news in a post to his personal website. He described the condition as “the unwanted visitor at the door.”

“I recently found out that I have been diagnosed with Alzheimer’s Disease,” he wrote. “It is early stage. For now, this means a name may not come easily to me, I forget a story I have recently told, or I don’t sleep as well, but I am in the beginning of this long journey.”

Sullenberger was the pilot of US Airways Flight 1549, which made a safe emergency landing in the Hudson River after striking a flock of birds that disabled the plane’s engines. Aviation officials and the plane’s passengers credited Sullenberger with guiding the Airbus A320 safely to the surface of the water. All passengers and crew members aboard the flight survived, prompting observers to describe the incident as the “Miracle on the Hudson.”

In addition to working as a commercial airline pilot, Sullenberger served in the U.S. Air Force, an accident investigator and was the U.S. ambassador to the Council of the International Civil Aviation Organization.

He said the diagnosis has challenged what it means to live an act of service.

“And the answer is to speak up. It is my hope that by sharing this, other families living in the shadows with this disease will feel they too can step forward,” he said Tuesday.

“Over the years, when people would ask about the successful outcome of Flight 1549, I would say that ‘courage can be contagious,’ and on that day it helped everyone band together to get everyone off that airplane successfully. Now we need that courage to battle this disease. I am now part of a larger community with many of you, and we will be courageous together.”

‘No one has been able to accept it yet.’ Grieving families collected the bodies of loved ones killed in Bangkok’s deadly pub fire as police investigated the cause of the blaze and possible safety breaches that have claimed 30 lives.

July 14 (UPI) — Billionaire investor Warren Buffet left the Gates Foundation out of his annual charitable stock gifts and said he would give all his stock for the year to his charities run by his children.

Berkshire Hathaway said that Buffet, 95, will donate 9 million Class B shares of the company to the Susan Thompson Buffett Foundation and 1 million shares each to the Susie Buffet-run Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation, which was founded by Peter and Jennifer Buffet. “My goal is to dispose of all of my Berkshire shares within about eight years,” Buffett said in a statement announcing the gifts. “As I explained last year, my children are unfortunately growing older. I have every hope that the three of them are able to carry out the disposal of my shares by Dec. 31, 2034.”

In previous years, the Gates Foundation was the largest recipient of his Berkshire donations. Buffett has donated more than $47 billion of Berkshire stock to the Gates foundation. The Wall Street Journal reported that Buffett was waiting for the outcome of a probe into the foundation’s involvement with Jeffrey Epstein, the sex offender who died by suicide while awaiting trial for sex trafficking charges.

In March, Buffett told CNBC that he hadn’t spoken to Gates “at all since the whole thing was unveiled.”

Forbes values Buffett’s net worth at $147 billion, making him the 10th wealthiest person in the world.

Renewed conflict and tensions in the Strait of Hormuz have slowed fertiliser shipments, worsening hunger in Sudan.

Sudan risks facing a deepening hunger crisis due to ongoing conflict, aid ⁠funding cuts, and rising agricultural costs driven by the global disruption caused by the Iran war, a senior World Food Programme (WFP) official has said.

“It’s a massive crisis, both in terms of numbers, but also due to the gravity,” Carl Skau, the WFP’s acting executive director, told Reuters on Tuesday.

Skau said that more than 100,000 people were still facing famine-like conditions, placing them in the highest level of the United Nations-backed Integrated Food Security Phase Classification (IPC). “With these kinds of numbers in IPC 5 starvation, it is extremely, extremely serious,” he said.

Sudan remains the world’s largest humanitarian crisis, with around five million people facing emergency or catastrophic levels of hunger, even after an intensive ‌aid response helped reduce the number of people in famine-like conditions, Skau said.

Nearly 19.5 million people across Sudan face high levels of acute food insecurity, according to the ⁠IPC. Skau said that recent fighting around el-Obeid in North Kordofan had raised fears the ⁠city could suffer a fate similar to el-Fasher in Darfur, where conflict and siege conditions trapped civilians and hindered aid deliveries, and where the paramilitary Rapid Support Forces (RSF) carried out mass killings and gang rapes after they took control of the city in the course of their three-year conflict with the Sudanese Armed Forces (SAF).

In recent days, however, violence has eased somewhat around el-Obeid, raising hopes that aid deliveries can be expanded from 100,000 to 250,000 in the area.

The WFP is ⁠also increasingly concerned about renewed fighting over the past week in Darfur, which has forced the closure of the Tine border crossing, a route from Chad ⁠into Darfur. This renewal of conflict threatens to reverse gains made after famine took hold in parts of the country, it said.

Throughout the country, the WFP has reduced the number of people ⁠it assists from five million a year ago to about 3.5 million, and reduced rations in many areas, including in Tawila in Darfur, as it faces a $646m funding gap after cuts from major donors, including the United States, European countries and Britain.

“We’re not heading in the ‌right direction here,” Skau said. “If anything, we are falling backwards.”

Skau also warned that soaring diesel prices and fertiliser shortages linked to conflict in the Gulf and the closure of the Strait of Hormuz could further undermine ‌Sudan’s food security during the current planting season.

Sudan relies heavily on fertiliser imports from Gulf countries, while much of its agriculture depends on irrigation pumps, which may be too expensive for farmers to run.

The ⁠war between SAF and the RSF, now entering its fourth year, has displaced millions and devastated much of the country. Aid agencies have repeatedly warned of worsening food insecurity and limited humanitarian access.

July 14 (UPI) — Two Supreme Court Justices are planning to testify before Congress Tuesday about the Court’s budget ask for extra security amid growing threats.

Supreme Court Justices Elena Kagan and Amy Coney Barrett plan to appear before the House Appropriations subcommittee that approves funding for the Court to discuss the request for a $16.6 million budget increase to improve security for the justices at work and home. But questioning could veer toward several recent controversial decisions the Court made in its 2025-2026 term.

The budget increase requested is $20.6 million for fiscal year 2027. It asks for $14.6 million to give each justice six more security agents and 25 extra officers at the Supreme Court building, The Washington Post reported. The request also includes $2 million for a residential security office to coordinate home security.

It will be the first time Court justices have gone before Congress since 2019.

Supreme Court justices regularly face personal attacks from politicians and the public who may be displeased with their decisions.

Barrett’s home was “swatted” in May, when a caller reported gunshots at her home to lure police there. In October, a woman was sentenced to eight years in prison for planning to kill Justice Brett Kavanaugh.

Chief Justice John Roberts spoke out in March against personal attacks on judges after President Donald Trump criticized the justices for striking down his tariffs.

“Personally directed hostility is dangerous and has got to stop,” Roberts said during a speech in Houston.

Sending justices to Congress has become rare. Until 2011, at least one justice had appeared before Congress every year. Since then, there have been only three appearances.

A station in southeast London has been temporarily renamed Jude Bellingham Station before England faces off with Argentina in a seismic semi-final World Cup showdown. Fans hope the star midfielder can help England through to their first World Cup final since 1966.

July 14 (UPI) — The consumer price index for the year ending in June rose 3.5%, less than economists expected, the U.S. Bureau of Labor Statistics reported Tuesday.

For the month, consumer prices fell by 0.4% due in part to the energy index dropping by 5.7%. It was the largest decline in the energy index in more than six years, following a spike in energy prices due to the Iran war and closure of the Strait of Hormuz.

The consumer price index decline for the month followed a 0.5% increase in May, also making the decrease a six-year best for a single month.

The energy index remains high for the 12 months ending in June, up by 15.7%. This is bolstered by a 26.7% increase in the index for gasoline.

Energy services decreased by 0.7% on a per-month basis, putting the annual rate of inflation at 3.9%. Electricity fell by 1% to an annual 4% increase while utility gas service rose by 0.5% to an annual 3% rate of inflation.

June’s index beat estimates by the Dow Jones consensus, which projected a 0.2% decrease in the consumer price index with annual inflation at about 3.8%.

The index for all items not counting volatile food and energy, known as core inflation, remained steady between May and June. Core inflation measured at 2.6% for the year ending in June after reading at 2.9% in May.

The index for food rose by 0.2%, as did the indexes for food at home and food away from home. The annual index for food rose by 3%.

Tuesday’s report comes as new Federal Reserve Chairman Kevin Warsh appears before Congress. In his prepared remarks, Warsh will tell Congress that the “number one objective is to get monetary policy right.”

“That is our clear and constant aim, the star we steer by,” Warsh’s prepared statement reads. And if we get policy right — and we will — the inflation surge of the last five years will be a thing of the past.”

July 14 (UPI) — New York Gov. Kathy Hochul signed an executive order Tuesday putting a moratorium on building large data centers for one year.

Hochul, a Democrat, signed the executive order pausing environmental permits and said that the delay would give the state legislature time to create new laws that protect the electrical grid, environment and communities.

The order is the first statewide ban in the United States.

“As data center development threatens to hike up utility bills, deplete our natural resources, and create uncertainty for New Yorkers, it’s my responsibility to take action and lead,” Hochul said in a statement. “New York will lead the way in creating the strongest standards in the nation for data center development, ensuring that when companies succeed because of New York, New Yorkers succeed, too.”

The order will temporarily block the state from approving permits for data centers that use 50 or more megawatts of power. During that time, the state will create a regulatory framework for assessing how the projects affect the environment.

The ban won’t delay projects that already have the needed permits.

Hochul also called on lawmakers Tuesday to repeal sales tax exemptions for data centers.

New York has fewer data centers than some other states, such as Texas and Virginia. But some projects have sparked local battles around the state.

Though states once courted the artificial intelligence companies’ investment, sentiment has since soured. Data centers use an enormous amount of electricity and are adding a huge burden to the electrical grid.

A May Gallup poll showed that more Americans would rather live near a nuclear power plant than a data center.

In Monterey Park, Calif., voters recently blocked data center construction permanently. But in April, Maine Gov. Janet Mills vetoed legislation that blocked construction of data centers because she said it could block a project in a town that supported a local data center.

The Seminole Nation passed a complete moratorium that bans development on its tribal land.

Hochul’s team didn’t say how many proposed data centers the moratorium would affect, but Cleanview lists 25 proposed facilities in the state, and a planned 300-megawatt facility near Ithaca has seen protests and backlash from locals, The Washington Post reported.

Lawmakers in New York recently passed a bill that called for a one-year moratorium but Hochul’s action allows the governor to move quickly while she reviews the legislation, the office said.

“This is an important victory for the thousands of New Yorkers who demanded that their government take action to put a pause on hyperscale data centers,” said Mitch Jones, managing director for policy and litigation at environmental group Food & Water Watch.

President Lee Jae Myung said Tuesday the experience of understanding North Korean-born citizens in South Korea will become a “special asset” to prepare for a future shared by the two Koreas.

Lee made the remarks in a written address delivered by Lim Woong-soon, the second deputy director of the National Security Office, in commemoration of the day for North Korean defectors, which falls on July 14.

“The experience of understanding and trusting one another in a new community will lay the foundation for social integration and serve as a valuable asset in preparing for a future in which South and North Korea live together,” Lee said.

“We will establish lasting peace on the Korean Peninsula and move steadily toward shared prosperity for the two Koreas,” the president said, adding that he will make all-out efforts to usher in a future of “coexistence and cooperation” beyond conflict and confrontation.

During the speech, Lee consistently referred to North Korean defectors as “bukhyangmin,” or people whose hometown is North Korea, a new term adopted by the unification minister earlier this year. The ministry is using “North Korean-born citizens” to refer to the North’s defectors.

Meanwhile, Unification Minister Chung Dong-young underscored at the event that it marked the first year to commemorate the third anniversary under the newly adopted reference, noting the term “North Korean defectors” implies discrimination and exclusion.

Tuesday’s event in Goyang, northwest of Seoul, was attended by some 1,000 people, including North Korean-born citizens and those who helped them settle into South Korea.

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July 14 (UPI) — Newly elected Labour Member of Parliament Andy Burnham was set to become British prime minister uncontested at the beginning of next week after securing unassailable backing from fellow lawmakers.

On Tuesday, with two days of the nomination period for the leadership of the party still to run, the former Mayor of Greater Manchester had the support of 349 Labour MPs, making it a mathematical impossibility for another candidate to overtake him.

Candidates need the backing of 81 Labour MPs minimum to be nominated — equivalent to 20% of the party’s 403 lawmakers — but the level of support Burnham has means insufficient numbers of uncommitted MPs remain to nominate another candidate.

Endorsements he needs from three other affiliated groups, including two trade unions, were expected to be rubber-stamped.

As the lone candidate to replace Keir Starmer, who resigned on June 22 after six years at the helm and two years as prime minister, Burnham, 56, will formally take over as party leader on Friday and become prime minister on Monday.

Burnham increased his support tally from 322 MPs to beyond the threshold at which he could still be challenged after hustings to answer questions from Labour MPs on Monday night with the proceedings held in private.

The former MP and government minister, who quit Westminster politics in 2017 after two failed bids for the leadership of the party while it was in opposition, succeeded at his third attempt, staged via a parliamentary by-election in Manchester just three-and-a-half weeks ago, which he won easily.

Burnham has promised a drastic transfer of power to the regions and to build an efficient state with a “laser-like focus on growth and regeneration,” but has said little else, in part because, with no mandate from the electorate, he is hemmed in by the manifesto that brought Starmer to power in a landslide general election in July 2024.

Starmer was forced out amid falling approval ratings and losses at the ballot box in successive local and by-elections, as well as rebellions by his own MPs forcing policy U-turns, and the debacle over his appointment of Peter Mandelson as ambassador to the United States.

The final straw was a disastrous defeat to Reform UK in “mid-term” local elections in May, prompting defections from his cabinet and growing numbers of MPs calling on him to give way to Burnham, said to be one of the country’s most popular political figures.

The South Korean government on Tuesday revised up its economic growth projection for 2026 to 3 percent, up 1 percentage point from its previous outlook, citing a semiconductor supercycle and easing uncertainties surrounding the Middle East.

The Ministry of Finance and Economy released its economic policy plan for the second half of 2026, presenting a forecast above the 2.6 percent estimates issued by the International Monetary Fund (IMF), the Organization for Economic Cooperation and Development (OECD) and the Asian Development Bank (ADB).

“This is the first year in which the Lee Jae Myung administration is taking full responsibility for the country’s economic management,” First Vice Finance Minister Lee Hyoung-il said during a press conference held in the central city of Sejong.

“On the back of the government’s prompt response to the Middle East war and robust export performance, the economy is maintaining a stable growth trend,” the first vice finance minister said, adding that the revised 3 percent growth forecast reflects those developments.

Lee said the revised growth forecast, which is significantly higher than those presented by major international institutions, remains achievable because it reflects the latest data.

“I think the outlooks from other organizations were based on data from March and April,” Lee said. “We made our assessment based on the latest data, with the major changes including stronger exports driven by the semiconductor boom. Tensions in the Middle East have eased further since then.”

“We believe such developments will exert downward pressure on consumer prices and inflation, positively affecting both exports and consumption,” he added.

In the report, the finance ministry said the policy vision for the remainder of 2026 is to mark the first year of a major economic leap toward establishing an “irreplaceable Republic of Korea,” referring to South Korea’s official name.

Seoul also unveiled the so-called 3-4-5 vision, under which the country will seek to achieve a potential growth rate of 3 percent, become one of the world’s top four exporters, and raise gross national income (GNI) per capita to US$50,000. The GNI per capita came to US$36,850 in 2025.

The finance ministry said the growth momentum, which began to expand in the second half of 2025, is expected to further accelerate this year on the back of the continuing semiconductor boom, along with policy measures, including an extra budget aimed at shielding the country from the impact of the Middle East war.

The country will also seek to successfully implement three mega projects aimed at fostering the semiconductor, AI data center and physical AI industries, the report said.

South Korea will additionally focus on maintaining an unwavering supply chain based on lessons learned from the Middle East war, including offering tax benefits for the domestic production of strategically important items.

On exports, the finance ministry said South Korea’s outbound shipments are expected to jump a whopping 40 percent on-year in 2026 on the back of the global artificial intelligence (AI) boom.

Non-IT products, such as ships, biohealth and secondary batteries, are also expected to remain robust, it added.

South Korea’s monthly exports reached a record $102.25 billion in June, surpassing the $100 billion mark for the first time after jumping 70.9 percent on-year.

The current account for 2026 was expected to reach a $290 billion surplus, marking a record high, buoyed by the surge in overseas demand and an increase in the number of foreign tourists.

In 2027, however, the current account surplus was expected to narrow to $245 billion following a rise in imports on the back of increasing domestic consumption.

Facility investment for 2026 could expand 5 percent on-year due to the robust performance of semiconductor manufacturing equipment, although growth will be limited by sluggish machinery and petrochemical sectors.

The policy report also projected inflation of 2.6 percent in 2026, up from the previous 2.1 percent estimate, citing the lingering impact of the Middle East war, which led to higher petroleum prices.

Core inflation, which excludes volatile food and energy prices, is expected to remain at around 2 percent.

“In the second half of 2026, as tensions surrounding the Middle East war ease and global crude oil prices decline, consumer price growth is expected to slow,” the ministry said.

“However, uncertainties also linger amid the progress of Middle East war negotiations and weather conditions, which could lead to volatility in energy and agricultural product prices,” it added.

Looking ahead to 2027, the ministry projected annual inflation to reach 2.2 percent despite lower global crude oil prices due to demand-led inflationary pressure.

The government said it will continue to focus on rolling out a post-Middle East war strategy by pursuing stable macroeconomic policies while maintaining a stable supply chain.

“In response to the changing economic environment, we plan to establish a comprehensive response system to maintain market stability across the macroeconomy, financial markets, the foreign exchange market and the real estate market,” the first vice finance minister said. “Based on favorable tax revenue conditions, we will continue active fiscal management.”

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The United States carried out attacks against Iran for a third consecutive night late on Monday.

Iran has continued to hit targets in the Gulf in several waves of retaliatory strikes on Tuesday, including UAE‑flagged oil tankers in the Strait of Hormuz and US military facilities in Bahrain and Kuwait.

Here is a recap of what has happened on Monday night and Tuesday, and what each side has said.

Where did the US attack Iran?

US Central Command, the military’s regional command known as CENTCOM, said its latest strikes began at 4:45pm ET (20:45 GMT) on Monday and were aimed at degrading Iran’s capacity to attack “innocent civilians and commercial shipping” in the strait.

CENTCOM later announced the conclusion of its strikes and said the latest round of attacks on Iran lasted five hours. It added that US forces “successfully struck military targets across Iran including Bushehr, Chah Bahar, Jask, Konarak, Abu Musa, and Bandar Abbas”.

Iranian state television and semi-official news agencies reported explosions throughout the night across the country’s southern coast, including the port city of Bandar Abbas, and on Kish and Qeshm islands, as well as the town of Jam in Bushehr province.

A projectile that struck western Bandar Abbas caused no casualties, the Fars news agency reported, citing the regional governor’s office.

What areas did Iran target?

For its part, Iran’s Islamic Revolutionary Guard Corps (IRGC) said it had launched a wider retaliatory campaign against US allies and interests across the Gulf.

Iran’s Tasnim news agency reported that Iranian forces had struck several “violating” vessels in the strait, and that a US-made drone had been shot down near Bandar Abbas.

The UAE: The UAE said two of its oil tankers had been hit by Iranian cruise missiles in Omani waters in the Strait of Hormuz. The UAE added that one Indian national crew member had been killed on one of the tankers, and eight other people were wounded.

Iran’s Tasnim news agency said the IRGC hit two “offending” oil supertankers, citing an IRGC statement – apparently referring to the two UAE tankers.

Kuwait: The Iranian army said on Monday that it had carried out a drone attack on US military targets in Kuwait. In a statement posted by state broadcaster IRIB, the army said it launched drones at a US Patriot missile system, fuel tanks, a watchtower, an ammunition depot and communication systems.

Bahrain: The IRGC said it targeted “several weapons storage depots, a satellite communications centre, and a building housing US forces” at al-Juffair Base in Bahrain. It also said it had hit the US Fifth Fleet in Bahrain with missiles and drones.

Air sirens have been heard four times in Bahrain on Tuesday so far.

Jordan: Jordan’s army said it shot down four missiles in Jordanian airspace that were fired from Iran, according to the official Petra news agency. After this, the IRGC said it launched ballistic missiles at US forces and key facilities at an airbase in Jordan.

In a message addressed directly to Jordanians, the IRGC insisted that the operation was aimed at the US military presence in the country rather than at Jordan or its citizens. “You know that we hold no animosity toward your country. On the contrary, we deeply love you, the noble people. You understand the pain and suffering of the Palestinian people better than any other nation, and you are aware of the crimes of the Zionist regime in the massacre of 70,000 Palestinians, including 20,000 children in Gaza, carried out with the direct involvement of the United States,” it said.

What have the US and Iran said?

US President Donald Trump formally notified Congress on July 10 that fighting with Iran had resumed on July 7, invoking his authority to keep US forces in combat for another 60 days without lawmakers’ approval.

At a news conference on Monday, Trump said Iran’s offensive capabilities were being dismantled, but he still thinks a “deal is possible” despite the return to open fighting.

Trump also repeated an earlier demand that Gulf nations help cover the cost of protecting shipping, saying Washington was “protecting a very rich portion of the world” and expected to be paid for it.

On Monday, Trump also threatened to “take out” Kuh-e Kolang Gaz La, also known as Pickaxe Mountain, a suspected nuclear site near the Natanz uranium enrichment facility in central Iran.

Meanwhile, the US blockade on Iran, confirmed by the US Navy-led Joint Maritime Information Centre (JMIC), is due to begin at 20:00 GMT on Tuesday.

The US’s blockade covers Iran’s ports and terminals along the entire southern coastline, according to JMIC.

Ebrahim Azizi, the head of the Iranian Parliament’s National Security Committee, has warned that Iran remains steadfast in defending its red lines, following the formal introduction of a bill to manage the Strait of Hormuz.

In an X post on Tuesday, Azizi wrote: “Last night, coinciding with the downing of US drones, the ‘Strategic Action for the Security and Sustainable Progress of the Strait of Hormuz and the Persian Gulf’ bill was formally introduced in Iran’s Parliament. We remain steadfast in defending our red lines, particularly regarding the management of the Strait of Hormuz.”

What is happening to shipping in Hormuz?

Oil prices rose more than 9 percent on Monday, with Brent crude climbing to about $81 a barrel, its highest level since mid-June.

Kpler, the ship-tracking firm, said crossings through the strait fell by about 52 percent between July 10 and July 12, compared with the previous week.

Madrid, Spain – Badr Tmairi, 22, from Morocco, has spent six years living in Spain without legal status. He arrived at 16, alone, without his family. He held legal residency briefly after turning 18, but lost it when he failed to renew it in time.

“What I want is to get my papers back so I can work as a hairdresser and travel to visit my family in Morocco,” he said.

Tmairi is one of more than a million people who have now applied for regularisation under a new scheme that contrasts with a growing European trend against irregular immigration.

He has been homeless for the past year. Without documents, finding work and decent housing in Spain is difficult.

“It’s very encouraging to know that so many people submitted an application and are trying to regularise their situation, but that huge number is also proof that the state has failed in its duty to protect the most vulnerable,” Edith Espinola, president of the Active Domestic Workers’ Service Association (SEDOAC) and spokesperson for the Regularizacion Ya (Regularisation Now), told Al Jazeera.

Regularizacion Ya, a collective made up of migrants, has led the push for regularisation since 2020. The measure grew out of a broad social consensus and has been backed by civil society organisations, the Catholic Church, trade unions and business associations.

Living without legal status, Espinola said, condemns people to social exclusion, as it has for Tmairi. Without rights or protection from abuse, they are unaligned with most of the rest of the population.

The new initiative, Spain’s first regularisation process since 2005, began in April and closed on June 30. The government now has three months to resolve the vast majority of the applications submitted.

Of the 1,174,978 applications, according to the Ministry of Inclusion, Social Security and Migration, only 11,000 have received a favourable resolution so far. About 608,000 have been accepted for processing, granting provisional residency and work permits until a final resolution.

‘All I want is to work’

Rocio Neciosupe, 54, is a Peruvian migrant who has spent two years without legal status in Spain. “Regularisation isn’t a handout; all I want is to work. To work without fear and with rights, so that if I fall and I’m sick, I don’t have to go to work that day and can still get paid, like anyone else,” she said.

Neciosupe, a cleaner in private homes, is busy across six different buildings around Madrid. But she is currently recovering from a back injury sustained in a fall at work. Without documents or a contract, she has no right to sick leave.

Unable to afford to lose her income while she recovers, her husband accompanies her to work each day and helps her with tasks she cannot manage alone.

Rocio, her husband and their two daughters, aged 22 and 17, have all had their regularisation applications accepted for processing and are now awaiting a favourable resolution.

“I want to support the country I live in, and if the country grows, we grow too,” Neciosupe added.

It is precisely in the contribution and growth potential of people like her that the Spanish government has framed its case for the measure.

“By 2050, Spain’s GDP would be 19 percent lower, 90,000 bars would close, 50,000 classrooms would shut and 220,000 farms would disappear,” Prime Minister Pedro Sanchez said recently in a public address.

Gonzalo Fanjul, director of ISGlobal’s policy and development team and head of Research at the porCausa Foundation, said: “If you look at what’s happening in the United States, there are already estimates of the impact of the government’s violent, hostile anti-migration policies. Whole economic sectors are struggling to keep functioning.”

One of those sectors is care work. With an ageing population, Spain needs trained workers to fill positions in that sector, among others.

Josselyn Aguirre, 32, is one of those workers. A nursing assistant, she migrated from Ecuador to Spain in 2024. Her original plan had been to move to the United States, but her visa application was rejected.

“My goal is to stay and help older people. I really enjoy working with them,” she said.

“Here, in my country and in other countries around the world, this sector is collapsing due to a shortage of staff. That’s why I believe that being able to regularise your status and contribute as a professional benefits everyone,” she told Al Jazeera.

Migrants and refugees who applied for regularisation had already been living in Spain, working in the informal economy for years; 57 percent are men, most come from Latin American countries, and six out of 10 are below the age of 34.

So far, 159,097 additional people have registered with the Social Security system as a result of the regularisation process.

With this measure, “Spain has made a bet on growth. We’re going to be a country of 50 million people,” Fanjul said. “But it’s not enough.”

Amid a European political climate in which anti-migration rhetoric appears to be gaining ground, Spain’s approach shows another path is possible, though “regularisation is only the beginning”, Fanjul said.

“The system has been reset, but none of the underlying reasons that brought us to this point have been resolved.

“For the state to open up legal, safe and orderly channels for labour mobility is simply common sense,” he concluded.

Espinola is in no doubt.

Despite criticism from those opposed to the regularisation, she stressed, “We have come out stronger. The migrant community has once again shown its capacity for mutual support in difficult situations.”

The regularisation process is not yet over, she added: “We will remain vigilant to make sure the more than a million applications submitted are processed properly.”

July 14 (UPI) — President Donald Trump has signed a pair of executive orders shrinking two southern Utah national monuments by more than a million acres each, sparking anger from environmentalists who say the moves will open the formerly protected lands to exploration.

The executive orders reduce the size of the Grand Staircase-Escalante National Monument from 1.87 million acres to about 181,500 acres and the Bears Ears National Monument from 1.36 million acres to 121,100 acres. Both are located in redrock country.

Trump signed the orders on Monday in the Oval Office while surrounded by Utah’s Republican leadership, including Gov. Spencer Cox, Sens. Mike Lee and John Curtis and several GOP House representatives.

“This is a big day for Utah,” Cox said.

The executive orders mark the latest development in the nearly decade-long tug-of-war over the size of the monuments, though Republicans have opposed Grand Staircase-Escalante National Monument and its 1.7-million-acre boundary since President Bill Clinton designated it in 1996. The Bears Ears National Monument was designated by President Barack Obama in late 2016.

During his first term, Trump shrunk both monuments — Bears Ears by 85% and Grand Staircase-Escalante by almost half — only for President Joe Biden to restore both of them to their previous boundaries in 2021.

Republicans, including Cox, argue that the monuments violate the Antiquities Act, which limits the designation to the smallest parcel of land necessary for the proper care and management of the objects to be protected. In a White House fact sheet on the executive orders, the Trump administration argues that the term “objects of historic or scientific interest” has been stretched to include landscapes and biodiversity.

“Now, we care. We definitely care about protecting these antiquities and will continue to do so. The problem is with these giant monument designations, there are resources that come with those,” Cox said at the White House press conference.

“We’re grateful that the president has made a determination that we need to rightsize these monuments.”

He added that this will not remove protections already in place, but will make “the monuments more manageable so that we have the resources necessary to continue to protect these antiquities.”

Trump criticized the size of the monuments, saying the designations prevented the public from using the land.

“You can’t go hunting. You can’t go fishing. You can’t do anything. You can virtually not even walk on it,” he said, though the Utah Division of Wildlife Resources states that people can hunt and fish in both monuments.

Environmental groups have been fighting to maintain the size of both monuments since Trump originally shrunk them, pointing to the fact that Grand Staircase-Escalante was designated due to its wide array of scientific and historic resources and Bears Ears was created following a proposal by five Tribal Nations.

Scott Braden, executive director of the Southern Utah Wilderness Alliance, said Monday’s executive orders make clear that Utah is the “epicenter of Republican efforts to dismantle and obliterate America’s system of public lands.”

“These two landscapes deserve to be protected for current and future generations of Utahns and Americans, not opened to exploitation,” Braden said in a statement, adding that the group would challenge the executive orders in court.

“We are confident that President Trump’s reckless and unlawful acts will be rejected and the monuments restored.”

According to the Center for Western Priorities, the executive orders may open the land formerly part of the monuments for sale or lease to oil, gas, mining and logging companies within 60 days.

“The people of Utah and the entire country have spoken with one voice: These lands belong to all of us, not Mike Lee, President Trump or the mining companies his kids are in business with,” CWP Executive Director Aaron Weiss said in a statement.

Lamine Yamal insists he would take no fear into Spain’s World Cup semifinal against France when both sides meet after he celebrated his 19th birthday.

The Barcelona prodigy raised eyebrows following Spain’s 2-1 quarterfinal defeat of Belgium last week after being quoted as saying that France rather than Spain ought to be “afraid” given recent defeats against La Roja.

A relaxed-looking Yamal addressed those comments as he spoke to reporters on Monday at a press conference.

“I was asked if I was afraid of France, and I said no,” Yamal explained. “We are European champions. It’s simply football,” the teenager explained.

Yamal said he had marked his 19th birthday by buying a chunky jewel-encrusted necklace he wore to his press conference. The real birthday present, though, would be a place in Sunday’s World Cup final.

“I haven’t received many gifts yet. The best gift would be a win on Tuesday and a trip to New York,” he said.

While other stars at this World Cup have been in blistering goal-scoring form, Yamal so far has only found the net once during the tournament – but is ready to add to his tally against France.

“I don’t focus on goals, but it’s always special to score in a match like this. I accept the challenge. That’s why I came here,” Yamal said, promising a “beautiful match for the spectators”.

“It’s the game everyone was waiting for,” he added.

While acknowledging the momentous nature of Tuesday’s game, Yamal remained laid-back in his approach.

“There are far more difficult situations in life than a football match, so I’m calm,” he said. “I don’t feel any extra pressure; I’ll go out and play like always and give my all for the team.”

‘We’ve known each other for a while’

Spain coach Luis de la Fuente says his team plan to go on the “front foot” against tournament favourites France when they face off in a heavyweight semifinal showdown.

De la Fuente’s Spain will attempt to impose their possession-based game on France in what is shaping up as a gripping clash of styles.

While France coach Didier Deschamps insists Spain remain favourites for the World Cup, betting markets overwhelmingly back France to clinch a second title in three attempts.

Les Bleus have powered into the last four with a scintillating brand of attacking football based around such talents as Kylian Mbappe, Michael Olise and Ousmane Dembele.

But De la Fuente, whose team have beaten France in their last two meetings, is quietly plotting another ambush at the AT&T Stadium in Arlington, Texas on Tuesday.

“We’ve already analysed France in great detail; we’ve known each other for a while now,” De la Fuente said.

“We faced each other for a few years now, and they have great players, but so do we. We have to put all of our virtues on the table and try to counteract the strengths of the opponent.

“And that’s what football is about – the team that strikes a better balance is usually closer to getting the victory.

“We’ll have to think about their players. We’ll try to win those duels and will try to be on the front foot during the game, imposing our style.”

France ‘far better’

De la Fuente, though, is under no illusions about the difficulty of the task facing his side.

France, he said, have improved significantly since Spain defeated them 5-4 in a hectic UEFA Nations League semifinal in Stuttgart last year, when the Spaniards led 5-1 before a late French rally. That encounter would bear no resemblance to Tuesday’s game, De la Fuente said.

“We’re talking about two very different matches,” he admitted.

“Tomorrow is another semifinal. I will just try to repeat the positive scenarios, but there were other details where things weren’t that positive.

“We were winning 5-1, and in a few minutes they managed to make it 5-4. So we’re trying to repeat what we did well and the opposite of what we didn’t do well.

“We need to try and impose our game. We have completely antagonistic playing styles, so we’ll try to be on the front foot and take the initiative.”

De la Fuente also believes a maturing France squad will be a tougher proposition.

“I think they are a better team, far better, because those players have grown, and what they are doing now is better than what they were doing then,” he said.

“So they’ve improved their skills in the past two years, and that’s the reality.”

While controlling possession and tempo will be key, De la Fuente will also tell his players to savour the challenge. Asked what his final message to his team would be, he replied: “Let’s get out there and enjoy it.

“We are in a unique setting. Who knows whether we will come back? We must be the team that we know that we can be. We must be strong and try to counter the strength of the opponent.”

US President Donald Trump is threatening to attack a heavily-fortified underground nuclear facility in Iran known as ‘Pickaxe Mountain’. It followed a third night of US strikes and a demand the US be paid 20% of the value of all cargo passing through the Strait of Hormuz.

An Immigration and Customs Enforcement officer has fatally shot a motorist in Maine, the second ICE-related fatality by force this week. Protesters took to the streets of Maine, demanding accountability.

Hungarian parliament passes amendment that would remove President Sulyok, appointed under ex-Prime Minister Viktor Orban.

Hungary’s parliament has approved a constitutional amendment to remove President Tamas Sulyok from his largely ceremonial position, the latest move to dismantle the power of figures associated with former Prime Minister Viktor Orban.

The measure, passed on Monday with 139 votes in favour and only six opposing, would immediately bring an end to Sulyok’s term in office and pave the way for parliament to elect a new president.

Hungarians voted out the right-wing nationalist Orban in April, with new Prime Minister Peter Magyar’s Tisza Party winning in a landslide. The election result ended 16 years of power for Orban’s Fidesz party, which had come to dominate many aspects of the country.

Since Magyar’s victory, he has sought to erode that power, including by removing the current president. The constitutional amendment also introduces a series of judicial reforms, creates a body to investigate alleged financial abuses under the previous government, and imposes a 12-year term limit on lawmakers.

Sulyok now has five days to sign the constitutional amendment passed by parliament. Magyar has said that parliament will launch an impeachment procedure against Sulyok if he does not sign it.

The president and other members of Fidesz boycotted Monday’s parliamentary session.

Sweeping away the old order

The parliament elected Sulyok, a former chief of the Constitutional Court of Hungary, in February 2024. He was nominated to replace Katalin Novak, who resigned after pardoning a man convicted of covering up child sexual abuse.

But days after Magyar’s centre-right Tisza Party won a two-thirds parliamentary super-majority in April, the new prime minister declared Sulyok “unworthy to embody the unity of the Hungarian nation” and demanded that he leave office once the new government was formed.

In June, after the deadline to resign had passed, Magyar branded the president a “puppet” of Orban and promised to strip him and other holdovers from office by constitutional means. Weeks later, he unveiled a reform programme, dubbed “Operation Cleansing Fire”, which seeks to install a new constitution, purge state institutions and establish an anticorruption office.

While the presidency is a largely symbolic post, it is empowered to approve laws and can refer them to the Constitutional Court for review, raising fears that Sulyok might use his presidential powers to stymie Tisza’s ambitious reform agenda.