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Seoul steps in as ETF crash takes toll on retirees and minors
SEOUL, July 21 (AJP) - A crash inevitably leaves collateral damage, and the nearly 50 percent plunge in leveraged exchange-traded funds (ETFs) linked to chip behemoths Samsung Electronics and SK hynix has hit some of South Korea's most vulnerable investors.
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Seoul assures oil supplies enough, but Houthi risk clouds Q4
SEOUL, July 21 (AJP) - Just as Asian economies had adapted to the disruption of the Strait of Hormuz by relying increasingly on Saudi Arabia's Red Sea exports, Yemen's Houthi militants are threatening the Bab el-Mandeb Strait, putting the region's alternative oil lifeline at risk.
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Korea ups casino taxes while Japan expands casino resort
SEOUL, July 21 (AJP) - South Korea is moving to raise the maximum levy on casino operators by 50 percent, a step that could further erode the industry's competitiveness just as Japan expands its gaming sector with its first integrated resort.
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KakaoBank to go on full-day strike after wage talks collapse
SEOUL, July 21 (AJP) -After mild hours-long log-off protests by workers across South Korea's top mobile platform Kakao group over the last month, the union at KakaoBank will go on a full-day strike on July 31 after wage negotiations collapsed.
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BOK to plug 24-hour won settlement gap in latest MSCI push
SEOUL, July 21 (AJP) - South Korea will pilot a round-the-clock international won payment network in September, seeking to fill a key settlement gap in its newly opened 24-hour foreign exchange market and strengthen its bid for developed-market status from MSCI.
Reality check for Korea's Lee and Japan's Takaichi as their honeymoons end
SEOUL, July 20 (AJP) - The chemistry between South Korean President Lee Jae Myung and Japanese Prime Minister Sanae Takaichi appeared immediate, culminating in an impromptu drumming performance during their January summit in Nara. They also had much in common. Both took office as agents of change after periods of political turmoil. Both entered government with approval ratings that would be enviable in almost any mature democracy. Both benefited from weakened opposition camps and presented the
by Lee Jung-woo
Türkiye's coup resisters carry wounds, no regrets
SEOUL, July 20 (AJP) - Ten years after a faction of the Turkish military tried to seize power on the night of July 15, 2016, the civilians who poured into the streets to stop it still carry the marks of that night, in bone, in memory, and in the quiet routines of family life. Mehmet Emin Ertaş, a 47-year-old businessman, is missing the metatarsal bone in his right foot, taken by a bullet as he ran toward soldiers firing on the crowd. Elvan Alkılıç, a 36-year-old housewife, spent the nigh
Chip boom puts BOK on tightening path, but spillover debate clouds outlook
SEOUL, July 21 (AJP) - South Korea's bond market is increasingly pricing in another interest-rate increase this year after the Bank of Korea's July hike, as Governor Shin Hyun-song argues that the country's chip-driven income boom is beginning to generate demand-side inflation despite a still-sluggish domestic economy. Investors now widely expect the benchmark policy rate to reach 3.0 percent by year-end after the central bank last week raised it by 25 basis points to 2.75 percent,
Coupang back under fire over warehouse automation's safety trade-off
SEOUL, July 20 (AJP) - Fast delivery has long been at the core of Coupang's identity, helping transform South Korea into a republic of logistics. But a fire that was still burning Monday afternoon, more than 55 hours after breaking out at the company's state-of-the-art fulfillment center in Incheon, west of Seoul, underscored a new challenge facing increasingly automated warehouses - the costly trade-off between efficiency and the safety risks posed by lithium-powered robotics. The bl
ARKO festivals bring Korea's living traditions to new audiences
Homeplus earns final three-month chance to avoid liquidation
