Yonhap News Summary

SEOUL -- President Lee Jae Myung urged large-scale strategic investments in future industries, such as small modular reactors, renewable energy, and aerospace, at a Cabinet meeting in Sejong. The president aimed to bolster South Korea's industrial might. Exports in South Korea surged 45.3 percent in the first ten days of August due to robust global demand for memory chips, with exports reaching $21.3 billion compared to $14.6 billion in the same period last year, according to the Korea Customs Service.

A massive fire at a chemical warehouse in Pyeongtaek was brought under control after nine hours, with no reported casualties. The defense ministry pledged to actively promote the temporary relocation of Air Force operations from an air base in Gwangju to expedite a significant semiconductor and AI cluster project in the region. This aligns with the government's broader strategy to develop a multibillion-dollar semiconductor and AI cluster in the southwestern and central regions, involving Samsung Electronics and SK hynix.