Korea's Q1 GDP strongest since Q3 2020 as chip sector drives one-fifth of growth SEOUL, June 09 (AJP) - South Korea's economy expanded at its fastest pace in more than four years in the first quarter, driven by a semiconductor-led investment and export boom that drove near one-fifth of the growth, central bank data showed Tuesday. Real gross domestic product (GDP) grew 1.8 percent from the previous quarter and 3.8 percent from a year earlier in the January-March period, according to the Bank of Korea's final estimate. The figures were revised up from preliminary gro June 9, 2026

KOSPI claws back about half of Monday's rout on retail buying SEOUL, June 09 (AJP) -South Korea's benchmark KOSPI rebounded nearly 4 percent at the opening bell Tuesday as retail investors rushed in to buy stocks battered in the previous session's 8 percent selloff. The buying centered on the country's memory-chip giants. SK hynix jumped 6.2 percent to 2,030,000 won ($1,326.2) after sliding nearly 8 percent a day earlier, while Samsung Electronics rose 4.0 percent to 307,250 won following a roughly 10 percent plunge. The KOSPI was up 3.3 perce June 9, 2026

South Korea outlines strategy to attract 2 million cruise visitors SEOUL, June 08 (AJP) - South Korean government and tourism officials met with industry representatives aboard a docked cruise ship in Busan on June 5, 2026, to outline a strategy aimed at expanding international cruise tourism, the Korea Tourism Organization said Monday. The 21st Cruise Development Council meeting took place aboard Royal Caribbean's 169,000-ton Spectrum of the Seas, marking the first time the annual council convened on an active vessel. About 90 officials from regional gove June 8, 2026

Researchers design DNA coatings to control catalyst environments for chemical production SEOUL, June 08 (AJP) - Researchers in South Korea have developed a method to coat chemical catalysts with single-stranded DNA, enabling precise control over the surrounding chemical environment to improve hydrogen and chemical production, the Korea Advanced Institute of Science and Technology said Sunday. The research team, led by Professor Park Ji-min from the Korea Advanced Institute of Science and Technology (KAIST)'s department of chemical and biomolecular engineering, applied single-st June 8, 2026

Kakao recovers after hitting one-year low, but investors remain skeptical of AI push SEOUL, June 8 (AJP) - Kakao fell to 37,600 won on Monday morning, hitting a fresh 52-week low before recovering much of the decline. The sharp swings suggested that investors remain unconvinced that the messaging giant's push into artificial intelligence is driving the user engagement needed to support a recovery. Roughly 96,700 retail investors holding the stock remain deep in the red, sitting on an average loss of more than 50 percent against an average purchase price of 83,068 won. As o June 8, 2026

Won hits 17-yr low at open, bonds extend losses SEOUL, June 8 (AJP) - The South Korean won fell to its weakest level at the start of trading on Monday, hitting a 17-year low as the currency was battered by expectations of a hawkish Fed and speculative offshore bets amid the prolonged conflict in the Middle East. The domestic debt market also suffered a severe rout, spreading intense volatility across broader financial markets. The won opened at 1,555.2 won per dollar, tumbling 16.1 won from the previous session. This marks the lowest level June 8, 2026

Aei Robot taps Nvidia tools to cut humanoid training costs SEOUL, June 08 (AJP) - South Korean humanoid robot developer Aei Robot announced it has reached a key milestone in bipedal robot development by harnessing Nvidia's motion-generation and inverse-kinematics tools, sharply lowering the cost of gathering the training data that machines need to learn human tasks. The announcement came as Aei Robot prepared to meet Nvidia CEO Jensen Huang later Monday, the final day of his four-day South Korea trip, during which the chip giant has courted Korean June 8, 2026

Former Naver CEO tapped as next PM SEOUL, June 7 (AJP) - Minister of SMEs and Startups Han Seong-sook was tapped to become the next prime minister, replacing incumbent Prime Minister Kim Min-seok, Cheong Wa Dae said on Sunday. At a press briefing in Seoul, presidential chief of staff Kang Hoon-sik said President Lee Jae Myung has nominated Han as the next prime minister. Referring to the outgoing prime minister, Kang also thanked Kim for his service and said the government's policy achievements were largely due to his work June 7, 2026

Six-term DP lawmaker Cho Jeong-sik elected National Assembly speaker SEOUL, June 5 (AJP) - Cho Jeong-sik, a six-term lawmaker of the ruling Democratic Party (DP), was elected on Friday as National Assembly speaker for the second half of the year. Cho won 267 of 276 votes cast during a parliamentary plenary session to assume the independent and impartial role. It follows his selection as the DP's candidate for the role after winning a majority in an internal party vote on May 13. His two-year term as speaker will run through May 2028. The veteran lawmaker June 5, 2026

Hyundai Chair to skip Huang's Seoul 'samso' dinner, plans separate meeting SEOUL, June 05 (AJP) - Hyundai Motor Group Chairman Chung Eui-sun will not attend a dinner with Nvidia CEO Jensen Huang and other Korean conglomerate heads held Friday, opting instead for a separate encounter with the chip leader next week, industry sources said. Chung withdrew from the so-called "samso" gathering — named for the samgyeopsal grilled pork belly and soju on the menu — citing a scheduling conflict, the sources said. The dinner, at a restaurant near Hongdae in June 5, 2026