Samyang Foods joins culture ministry to lure Buldak fans to Korea SEOUL, July 31 (AJP) - South Korea's culture ministry announced it would sign a memorandum of understanding with instant-noodle maker Samyang Foods to promote overseas tourism, seeking to convert the global appetite for Korean food into visits to the country. The Ministry of Culture, Sports and Tourism said Friday the deal is designed to channel the worldwide popularity of K-food into tangible travel demand, pairing Korean tourism advertising with Samyang's products and content across l July 31, 2026

Korea's June factory output hits 6-year high, chip lifts domestic front SEOUL, July 31 (AJP) - South Korea's factory output soared to a six-year high in June as robust automobile demand complemented chip activity, lifting the broader domestic economy. Mining and manufacturing output climbed 5.8 percent from May and 6.4 percent from a year earlier, the strongest monthly performance since June 2020, according to data released Friday by the Ministry of Data and Statistics. The rebound followed a revised 2.9 percent decline in May. Automobile production surged 15 July 31, 2026

Korea's Lee heads for Argentina after state visit to Chile SEOUL, July 31 (AJP) -President Lee Jae Myung called Thursday for South Korea and Chile to transform mounting global economic uncertainty into an opportunity for deeper cooperation, urging the two countries to modernize their two-decade-old free trade agreement and broaden collaboration from critical minerals to advanced manufacturing and defense industries. Speaking at a Korea-Chile Business Roundtable in Santiago attended by business leaders from both countries, Lee said the changing global e July 31, 2026

KAI signs MOU with Embraer on aircraft structures SEOUL, July 30 (AJP) - Korea Aerospace Industries has signed a memorandum of understanding with Brazilian aerospace company Embraer to begin strategic cooperation in the field of aircraft structures, the company said Thursday. The agreement was signed on July 28 during President Lee Jae Myung’s state visit to Brazil, laying the groundwork for broader cooperation between the two companies in future aerospace technologies. KAI said the MOU is aimed at exploring potential business opportuni July 30, 2026

Won hits strongest level in about 5 months after Fed sends mixed signals SEOUL, July 30 (AJP) - The South Korean won strengthened to its highest level in about five months on Thursday, while government bond yields rose as currency and fixed-income markets drew contrasting signals from the Federal Reserve's latest policy decision. The won closed daytime trading at 1,437.4 per dollar, strengthening by 9.3 won from the previous session's close of 1,446.7. The currency traded between 1,435.9 and 1,447.7 during the session before returning below the 1,440 mark, July 30, 2026

KOSPI extends losses as chipmakers' strong earnings fail to lift sentiment SEOUL, July 30 (AJP) - South Korean stocks extended losses for a third straight session on Thursday, with the benchmark KOSPI hovering around 5,600 points despite strong foreign and institutional buying, as retail investors sold shares following this week's market rout. The index opened higher and appeared likely to climb back above 6,000 points, but fell in afternoon trading as concerns over semiconductor demand, renewed tensions in the Middle East and a weak overnight session on Wall Stre July 30, 2026

Military to inspect guard operations across Army corps after ammunition controversy SEOUL, July 30 (AJP) - South Korea’s military will inspect guard operations across all Army corps after controversy emerged over a front-line unit’s decision not to keep live ammunition loaded in crew-served weapons during border guard operations. According to the Joint Chiefs of Staff on Thursday, the Army’s Ground Operations Command will begin the inspection with I Corps and expand it to all subordinate corps. The review will look into whether other corps have changed guard July 30, 2026

BOK puts policy, markets veterans in key posts SEOUL, July 30 (AJP) - The Bank of Korea moved monetary policy and financial market specialists into key advisory and operational posts on Thursday, underscoring a push to strengthen policy coordination and its capacity to respond to market volatility. The central bank appointed or reassigned 11 department and regional branch heads and promoted 56 employees, including nine to Grade 1 and 15 to Grade 2. Lee Hwa-yeon, previously head of the Policy Coordination Team at the Monetary Policy Departm July 30, 2026

LG Electronics confirms record Q2 on premium power SEOUL, July 30 (AJP) - LG Electronics confirmed record second-quarter results on Thursday, driven by strong home appliance sales, resilient vehicle component demand and growing subscription revenue despite geopolitical uncertainties and softer consumer spending. The South Korean electronics maker posted consolidated revenue of 23.83 trillion won ($16.52 billion) and operating profit of 1.58 trillion won ($1.09 billion) for the April-June period, up 14.9 percent and 147 percent, respectively, f July 30, 2026

Fed holds rates despite three hike dissents, dovish signal: BOK SEOUL, July 30 (AJP) - The Federal Reserve held interest rates steady against three calls for a quarter-point increase, but markets nevertheless interpreted the decision as broadly dovish as Chair Kevin Warsh offered no clear trigger or timetable for further tightening, according to reports from the Bank of Korea’s overseas offices. The assessments were contained in the BOK Washington office’s review of the July Federal Open Market Committee meeting and the New York office’s r July 30, 2026