Korea Week in Review
Sunday, July 12, 2026 · Bridging Culture Worldwide
One theme all week: Korea keeps going big at home, and the domestic mega-pledges could draw fresh U.S. pressure to build stateside. The five deals that mattered:
$201.7B home investment wave — Hanwha, Hyundai, Samsung, and SK will pour 312 trillion won into the Yeongnam region for AI, robotics, and chips
$522B chip flashpoint — Samsung and SK's record 800 trillion won plan for Korea's chip belt is now a possible test of the U.S. relationship, and could revive President Trump's threat of up to 100% tariffs on chipmakers that don't build in the U.S.
Record exports — June exports hit $102.25B (+70.9% YoY) — Korea joins Germany, the U.S., and China as the only nations ever to clear $100B in a month. Chip exports nearly tripled to $44.82B.
Tariff clock — The 10% Section 122 tariff expires ~July 24; and KITA is asking the USTR to cut a planned 12.5% Section 301 rate.
LG says uncertainty could delay its $28B U.S. battery build without a materials exemption.
Record profits — Samsung posted the world's largest quarterly operating profit (~89.4 trillion won / $58.6B) on AI-memory demand; Hyundai booked its best-ever quarter with hybrid sales up 74%.
Hanwha keeps converting pledges into U.S. plants (Georgia solar, Ohio turbines, Arkansas munitions).
BCW Take
The story of 2026 isn't whether new tariffs land, it's where Korea builds. AI memory is now the growth engine, and profits are flowing straight back into domestic capacity. Every Korean home-market announcement invites fresh U.S. pressure to break ground stateside.
I expect the major chaebol to keep leaning into U.S. onshoring while the won stays weak.
Cadence: Briefing Mon–Fri, this Sunday Week in Review, plus special updates most Saturdays.
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