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South Korea's US Projects Frozen After ICE Raid

South Korea’s biggest US industrial push hit an abrupt wall after federal agents detained 475 workers—including nearly 300 South Koreans—in a recent immigration raid at Hyundai-LG’s Georgia battery megasite, halting construction and prompting companies to curtail US travel and reassess timelines.

Foreign Minister Cho Hyun is in Washington to press for fast processing and future re-entry allowances, even as the Trump administration signals more raids are coming.

Seoul says it secured a deal with Washington to release the Korean nationals and is organizing a chartered flight to bring them home under “voluntary departure,” with discussions underway to avoid re-entry bans so specialists can return when legal processes allow.  

You can read more on the matter here.

What’s going on?

• Parliament Chief Confirms European Demand for Canadian Energy Exports (theDeepDive)

• Poilievre calls for broader tax cuts to ease housing crisis (Globe)

• Pentagon Has Less Than Two Years to Wean Off Chinese Rare Earths (theDeepDive)

• US hiring growth revised down by 911,000 jobs in year to March (FT)

• Freeport Reports 7 Miners Trapped Underground At Grasberg, Mining Halted (theDeepDive)

• Draft Senate Bill Waives Federal Rules on AI Companies During Testing (Bloomberg)

• Bessent Allegedly Threatened Pulte Over Fannie and Freddie: “I’m Gonna Punch You In Your F*cking Face” (theDeepDive)

• Inflation Erased U.S. Income Gains Last Year (WSJ)

• Canada’s Regulatory Burden Up 37% Since 2006 To Over 321,000 Rules (theDeepDive)

• Israel targets top Hamas officials in Qatar strike (CNBC)

• States Reject RFK Jr.’s CDC, Create Regional Health Alliances (theDeepDive)

What’s the latest?

• War: Israel launched a strike in Doha, Qatar, targeting senior Hamas leaders it accused of orchestrating the Oct. 7, 2023 massacre. The attack, confirmed by Israeli officials, marks a major escalation as it struck inside a foreign capital hosting a key U.S. military base. Qatar condemned the strike as a violation of international law, saying it hit residential headquarters housing Hamas’s political bureau. NBC reported the targeted delegation was meeting to discuss President Trump’s ceasefire proposal at the time.

• AI: Canada will launch a public registry of AI projects to track and disclose government use of artificial intelligence. The move follows rising adoption across departments, from AI tools for translation to satellite-based crop predictions and air cargo screening. Officials say the registry will improve transparency, avoid duplication, and scale successful tools across government. No launch date has been set, but it will form part of Ottawa’s broader AI strategy.

• Real Estate: Nearly 98% of Greater Toronto Area neighbourhoods with at least five home sales in August saw properties sell below asking price, a three-year high, according to Wahi. The trend was strongest in condos, where 97% of neighbourhoods were in underbidding territory, but single-family homes were also affected, with 94% underselling. Just 2% of GTA homes sold at asking price, while 79% sold under and 19% above. Neighbourhoods in Oakville, North York, Vaughan, and Old Toronto saw the steepest discounts, with median underbids of $158K to $200K.

• Technology : New vehicle registrations in Canada rose 5.9% in Q2 2025 to 541,566, the highest since the pandemic, but electric demand slumped. Battery EV registrations fell 39.2% and plug-in hybrids dropped 2.2%, while self-charging hybrids surged 60.7%. Overall zero-emission vehicle registrations dropped 29.5%, making up just 8.6% of new sales, down from 18.3% in late 2024. The decline is linked to reduced rebates, with Quebec cutting incentives and B.C. ending its program in May.

• Geopolitics: The EU is preparing its 19th sanctions package against Russia, coordinated closely with the U.S., after Moscow’s largest air attack on Ukraine since the war began. The measures, expected by early next week, will likely target Russian energy dependence, with discussions focusing on the Druzhba pipeline to Hungary and Slovakia. Officials are also weighing secondary sanctions on China, a key buyer of Russian oil, while the U.S. has already imposed tariffs on India for similar purchases. The package is expected to expand restrictions on Russia’s “shadow fleet” and curb Russian diplomatic and tourist travel.

Gold Hits All-Time High and Fury Drops a $1B PEA

The stock market and stuff

• Nasdaq Seeks SEC Nod To Allow Tokenized Stock Trading (theDeepDive)

• Teck Resources To Combine With Anglo American To Establish Canadian-Based Critical Minerals Powerhouse (theDeepDive)

• Toronto gold miner Agnico Eagle sells 11.3% stake in Orla Mining (Globe)

• Tesla To Vote On Proposal To Invest In xAI (theDeepDive)

• SpaceX Agrees to $17B Deal for EchoStar Spectrum, Canceling Satellite Contract (theDeepDive)

In the juniors

• Second Drill Rig to be Mobilized to Great Pacific Gold's Wild Dog Project (JMN)

• Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres (theDeepDive)

• Aya Gold & Silver Identifies New Mineralized Zone to the North and Reports High-Grade Silver Results at Zgounder (JMN)

FULL DISCLOSURE: Northern Superior is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Northern Superior. The author has been compensated to cover Northern Superior on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.