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SK hynix union rejects stock-heavy wage deal SEOUL, August 25 (AJP) -SK hynix union members on Tuesday narrowly rejected a tentative wage agreement that would have shifted a larger share of profit-sharing bonuses into company stock, sending labor and management back to the bargaining table as the chipmaker tries to spread its AI windfall across employees and shareholders while its shares remain well below earlier highs.
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Hyundai Motor reaches tentative wage deal after 60 hours of strikes SEOUL, August 25 (AJP) - Hyundai Motor and its labor union reached a tentative wage agreement, granting workers bonuses of more than 400 percent of monthly pay plus 12.7 million won ($9,189).
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Chip tax windfall to fuel record 2027 budget for Korea SEOUL, Aug. 25 (AJP) — South Korea is packaging a record budget of 800 trillion won ($579 billion) for the first time for 2027, with spending set for its first double-digit increase since the global financial crisis as a chip-driven tax bonanza gives the government room to accelerate fiscal expansion even as monetary policy tightens and public debt continues to climb.
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Korea's new household loans hit three-year low in Q2
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Iran blacklists five ships linked to S. Korean carrier Sinokor
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Korea's Aug consumer confidence falls on volatile stocks and prices SEOUL, Aug. 25 (AJP) — South Korea's consumer confidence fell for the first time in four months in August as a stock-market correction and accumulated price pressures weighed on sentiment despite solid economic conditions, central bank data showed Tuesday. -
Korea's food costs climb across home meals and dining out SEOUL, August 25 (AJP) - Korean households are facing renewed food-cost pressure across home cooking and dining out as extreme summer weather damages crops and fresh produce, adding to already elevated import costs. -
Jeju woman's death raises questions over handling of missing adult cases SEOUL, August 25 (AJP) - A body believed to be that of a woman who went missing on Jeju Island more than three months ago was found earlier this week, raising questions over how police handle and investigate missing people after her case was apparently closed prematurely without confirming her safety. -
Lee to hold private meetings with Samsung, Hyundai chiefs SEOUL, August 25 (AJP) - President Lee Jae Myung is reportedly arranging to meet with Samsung Group chairman Lee Jae-yong and Hyundai Motor Group chairman Chung Eui-sun this week, following a private dinner with SK Group chairman Chey Tae-won last week.
ASIA Insight>
How Seoul's hillside neighborhood becomes hidden gem for foreigners SEOUL, August 21 (AJP) - On a steep hillside beneath Mt. Namsan, a neighborhood once known for cheap housing is giving foreigners a reason to look beyond Seoul's better-known hotspots. It is not as crowded as Seoul's hip Hongik University neighborhood, a popular nightlife district known for its youthful energy or as busy as nearby Itaewon, Seoul's best-known international and entertainment district. Yet Haebangchon has plenty of bars, restaurants and cafés within walking dis by Ryu Yuna
Viet Nam's Gen Z protests without gathering
SEOUL, August 21 (AJP) - The flowers under the tree outside No. 55 Nguyen Huy Tu Street arrived one at a time, which is why the police had nothing to break up. Over roughly a week in August, young Vietnamese walked to the spot in central Hanoi, left a bouquet, photographed it and went home. By the time the pile was large enough to be a problem, no crowd had ever formed. The tree marks the place where a car crossed into oncoming traffic on May 30, 2025, and struck a motorbike carrying a father a
Visuals>
Today's Photo
Fashion and wellness unite in Seoul
Today's Photo
Seoul's beautiful life event kicks off
AJP Focus>
Sovereign AI race pulls world deeper into Nvidia's orbit SEOUL, August 24 (AJP) - When South Korea named the three teams last week that will carry its bid for a homegrown artificial intelligence model, the reward that mattered most was not cash or recognition. It was more Nvidia. The government said on Aug. 18 that SK Telecom, LG AI Research and startup Upstage had cleared the second round of its sovereign AI foundation model contest. For the next stage, each team will receive access to roughly 1,000 Nvidia B200 graphics processing units, up from ab
BOK August rate call splits 5-4 over back-to-back hike
SEOUL, August 24 (AJP) - The Bank of Korea has made clear that monetary policy is biased toward further tightening after its July rate increase, but economists are narrowly divided over whether it will deliver a back-to-back hike this week or wait until the fourth quarter to assess inflation and a sharp repricing in global bond markets. Five of nine economists in a combined AJP and Aju Business Daily survey expect the Monetary Policy Board to hold the benchmark rate at 2.75 percent on Thursday
North Korea>
- North Korea fires multiple ballistic missiles as US-South Korea exercise winds down
- Will Trump's joint drill reduction revive talks with North Korean leader?
- Trump seeks talks with North Korean leader as Pyongyang remains skeptical
- North Korea warns of decisive response to US-South Korea joint military drills
