KOSPI tumbles at reopen after local elections as US sell-off hits chip stocks SEOUL, June 4 (AJP) - South Korea's benchmark KOSPI fell 2.3 percent to around 8,596 when trading resumed on Thursday, retreating from Tuesday's record close of 8,801 as investors reacted to an overnight Wall Street sell-off and renewed tensions in the Middle East. U.S. stocks had dropped overnight, with the Dow Jones Industrial Average falling 620 points and the Nasdaq 240, as a correction in technology shares and a slump in Broadcom soured sentiment across the chip complex June 4, 2026

South Korea's FX reserves decline in May after brief rebound SEOUL, June 4 (AJP) - South Korea's foreign exchange reserves declined in May, reversing a brief one-month rebound. According to the Bank of Korea on Thursday, South Korea's foreign exchange reserves stood at $426.99 billion at the end of May, down $880 million from the previous month. The drop came after authorities implemented market stabilization measures including a foreign exchange swap with the National Pension Service (NPS), which reduced the country's dollar h June 4, 2026

Ruling Democratic Party dominates early vote counting in S. Korea's local elections SEOUL, June 03 (AJP) - Early vote counting for the June 3 local elections shows the ruling Democratic Party taking the lead in 14 of 16 metropolitan and provincial races, including the Seoul mayoral election. The conservative People Power Party is leading in only one region, North Gyeongsang Province. If the current trend continues, the elections will end in a sweeping victory for the Democratic Party. The early results suggest that voters in the first nationwide elections sinc June 3, 2026

Former justice minister Choo Mi-ae to become first female provincial governor in South Korea SEOUL, June 03 (AJP) - The Ruling Democratic Party candidate and former justice minister Choo Mi-ae is certain to win the Gyeonggi Province gubernatorial race, making her the first woman to head a metropolitan or provincial government in South Korean history. According to the National Election Commission on Wednesday, Choo is projected to defeat People Power Party candidate Yang Hyang-ja in the June 3 local elections. The six-term lawmaker maintained a wide lead over Yang throughout June 3, 2026

Counting begins as South Korea's local elections draw to a close SEOUL, June 03 (AJP) - Vote counting for the 9th National Simultaneous Local Elections got underway at approximately 7:10 p.m. on Wednesday at polling centers across the country, including the Gwanak-gu Election Commission counting station set up at Seoul National University gymnasium in Gwanak-gu, Seoul. The final voter turnout stood at 60.9 percent, based on figures tallied as of 6 p.m. Exit polls conducted jointly by KBS, MBC, and SBS projected the Democratic Party winning 11 o June 3, 2026

National Election Commission apologizes for ballot shortage SEOUL, June 3 (AJP) - Heo Chul-hoon, secretary-general of South Korea's National Election Commission, issued a public apology on Wednesday evening after several polling stations ran out of ballot papers during local elections. Speaking at the commission headquarters in Gwacheon, Gyeonggi Province, Heo said he takes full responsibility for the oversight. He said the commission deeply apologizes for causing great confusion and concern, acknowledging that the incident inconvenience June 3, 2026

ASIA DEEP INSIGHT: Architecture of South Korean reconciliation At exactly 8:30 p.m. on Wednesday, the abstract statistics of South Korea’s ninth nationwide local elections collided with physical reality. Across 258 counting centers, the seals on the first ballot boxes were broken. As millions of paper slips began feeding into automated sorting machines—the initial step before a grueling, newly mandated manual verification process—the republic stood at a critical institutional juncture. Joint exit polls released at the close o June 3, 2026

Ruling party leads in South Korean local election exit polls SEOUL, June 03 (AJP) -South Korea's ruling Democratic Party of Korea holds a strong lead in 11 out of 16 metropolitan mayoral and gubernatorial races, according to joint election-day exit polls released Wednesday. The projected outcomes position the party to expand its local administrative power as President Lee Jae-myung enters the second year of his term. The nationwide vote serves as the first major electoral test for the Lee Jae Myung administration, a critical midterm ref June 3, 2026

Voting continues despite fire in polling station building SEOUL, June 03 (AJP) - A fire broke out in the underground parking garage of the Sangdo 4-dong Community Complex in southwestern Seoul, at around 3:30 p.m. (0630 GMT) on Wednesday, election day. The blaze was extinguished in approximately five minutes and no injuries were reported. According to police, a citizen attempted to fight the fire using an extinguisher kept in his vehicle. Despite the noisy fire alarm, voting at the polling station on the third floor continued without June 3, 2026

WNMC 26: AI reshapes how news is experienced, not just made, media leaders say in Marseille MARSEILLE, June 03 (AJP) - Artificial intelligence is no longer merely changing how journalism is produced but is rewiring how audiences encounter the news itself, a panel of global media leaders said at the World News Media Congress. South Korea's AJP, an AI-native news agency built for that shift, took its place alongside publishers from India and Germany to argue that the technology is dissolving the old path of search, click and read, replacing it with content that anticipa June 3, 2026