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Korea's tax income up 18% on chip, stock and housing boom
SEOUL, Aug. 31 (AJP) — Active stock and housing trading bolstered South Korea's tax revenue on top of a chip-led corporate earnings windfall, pushing cumulative tax income to 274 trillion won ($199.4 billion) through July, up 41.4 trillion won, or 17.8 percent, from a year earlier.
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Korea's factory output loses steam July, retail sales sag
SEOUL, August 31 (AJP) -South Korea's factory output growth sharply eased on a pullback from chip shipments while a key gauge of household consumption fell back in July, suggesting the economy's heavy reliance on chip activity and restricted trickle-down effect of the chip boom on the the broader economy.
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LG Electronics hunts for U.S. talent for AI push
SEOUL, August 31 (AJP) - LG Electronics is stepping up its hunt for U.S.-based engineering talent in robotics, AI data-center cooling and mobility as the Korean electronics giant builds up new businesses beyond its traditional home appliance operations.
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Lee's approval rating nosedives below 40%
SEOUL, August 31 (AJP) - President Lee Jae Myung's job approval rating fell for a seventh consecutive week, dropping below 40 percent for the first time since he took office, according to a poll released Monday.
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T'way Air set to begin new chapter as Trinity Airways next week
SEOUL, August 31 (AJP) - T'way Air is set to rebrand as Trinity Airways next week, the budget carrier said on Monday. The airline said it has set Sept. 10 as the date for the launch of flights under its new name, with all domestic and international routes featuring new logo.
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Chinese robotaxis to hit Seoul roads by 2028 under Pony.ai deal
SEOUL, August 30 (AJP) - South Korean autonomous driving firm FutureLink has signed a strategic cooperation agreement with China's Pony.ai to bring 200 robotaxis onto the country's roads, aiming to launch a commercial driverless service in Seoul by around 2028. FutureLink announced the deal on Sunday, saying the two co
Kazakhstan feels familiar. Family duty runs in reverse
SEOUL, August 28 (AJP) - Kazakhstan can feel unexpectedly familiar to a Korean visitor. Across Astana, there are faces that at first glance would not look out of place in Seoul. Dark hair, familiar facial contours and gestures of deference toward older people can create fleeting moments of recognition in a country separated from the Korean Peninsula by thousands of kilometers of mountains, desert and steppe. The sense of familiarity runs deeper around the family table. Younger people wait for
by Joonha Yoo
For Kazakhstan's Koryo-saram, exile became home
ASTANA, Kazakhstan — Elena Ko has little difficulty answering a question that history made complicated for her family. "I'm Korean, but I think like Kazakh," she said through an interpreter. Ko, 55, is a third-generation Koryo-saram, a descendant of ethnic Koreans who settled across the former Soviet Union. She keeps Korean traditions, stays close to Kazakhstan's Korean community and travels to Seoul roughly once a year. But when she talks about home, there is little a
AI windfall buys homes, cars and luxury watches in Korea's chip enclave
HWASEONG, August 27 (AJP) - At Lotte Department Store in Dongtan, a saleswoman sizing up a customer offers a pitch that would sound peculiar almost anywhere else. "Your husband makes a lot of money this time. You can afford to treat yourself," she coos. There is no need to specify who the husband works for. Dongtan sits inside South Korea's semiconductor heartland, within commuting distance of Samsung Electronics' chip operations in Hwaseong and Giheung as well as SK hynix I
BOK front-loads tightening, but disinflation tests early hikes
SEOUL, August 27 (AJP) - The Bank of Korea (BOK) has front-loaded monetary tightening with its first back-to-back rate hikes since January 2023, betting that South Korea's chip-powered economic resilience and increasingly persistent inflation warrant acting before price pressures become harder to contain. The BOK raised its base rate by 25 basis points to 3.00 percent on Thursday, following an identical increase in July. Governor Shin Hyun-song, proving to be a hawk by delivering two rate
Samsung, SK hynix dominate Korea's stock-rich C-suite
Hot Stock: SK Innovation up 6% on $1 billion U.S. battery deal
