US Treasury boosts bond buybacks as long-term yields surge
SEOUL, August 20 (AJP) - The U.S. Treasury has calmed a surge in long-term borrowing costs by doubling buybacks of longer-dated bonds, but the move does little to address the forces behind the selloff as Washington continues to run large deficits and federal debt pushes past US$40 trillion. The Treasury said it would raise individual buybacks in the 10-to-20-year and 20-to-30-year sectors to at least $4 billion from $2 billion, with the higher limits applying from Sept. 9 through Nov. 4. The r
by Kim Yeon-jae
MASGA gets liftoff with drones with Washington's push
SEOUL, August 14 (AJP) - Washington's push to rebuild strategic industries at home while reducing dependence on China is creating new openings for South Korean companies in two seemingly different sectors: shipbuilding and drones. The latest U.S. moves point to a broader strategy of tapping production capacity from trusted allies where American industry cannot immediately meet demand, while using tariffs, investment and procurement rules to steer strategic supply chains away from China. Fo
BigBang's 20th anniversary comes as older K-pop acts find new life
SEOUL, August 19 (AJP) - K-pop boy band BigBang marked their 20th anniversary on Wednesday with their first digital single in four years, hoping to continue attracting attention years after their heyday. Their return comes as older K-pop groups are gaining renewed attention, attracting both longtime fans and younger listeners discovering their music years after their debut. But another shift is unfolding at the same time. While veteran acts are finding ways to stay together, some younger idols
Moody's raises growth forecast for South Korea, putting BOK in dilemma over rate hike
SEOUL, August 18 (AJP) - Global ratings agency Moody's raised its growth forecast for South Korea to 3.5 percent in a report published last week. The stronger outlook could support another interest rate hike, although strong exports and already high borrowing costs may reduce the need for the Bank of Korea to raise rates again soon. The forecast also put South Korea's growth at 2.7 percent for next year. The 2026 forecast was 1 percentage point higher than Moody's 2.5 percent estima
North Korea fires multiple ballistic missiles as US-South Korea exercise winds down
US ambassador meets American executives in first Seoul business talks
Chief justice faces mounting pressure for impeachment amid political rift SEOUL, August 20 (AJP) - The nomination of two Supreme Court justices by chief justice Cho Hee-dae earlier this week has escalated into a broader political confrontation.
South Korea extends curbs on hoarding urea, syringes for two more months SEOUL, August 20 (AJP) - South Korea will extend anti-hoarding measures on automotive urea solution and medical syringes for two months through the end of October, the Ministry of Economy and Finance said Thursday.
Listed companies see profits more than triple in H1 on chip boom SEOUL, August 20 (AJP) - South Korea's major listed companies saw their first half profits more than triple, driven by strong semiconductor earnings and broader gains across industries.
South Korea's short-term external debt ratio hits 15-year high SEOUL, August 20 (AJP) - South Korea's short-term external debt relative to its foreign-exchange reserves rose to the highest level in about 15 years in the second quarter.
