SK hynix ADR debut sends KOSPI past 7,500 and boosts Asia SEOUL, July 10 (AJP) - The KOSPI surged past the 7,500 line at Friday's open, hours before SK hynix's American depositary receipts begin trading on the Nasdaq in the largest ADR offering ever brought to the U.S. market. The main index in Seoul jumped 235.48 points, or 3.2 percent, to 7,527.39 in the first minutes of trade. SK hynix rose 3.1 percent to 2,254,000 won ($1,497) and Samsung Electronics gained 3.6 percent to 288,000 won ($191), with the chipmaker's sale of up to roughly July 10, 2026

KOSPI's fragile rebound fails to calm jittery investors SEOUL, July 09 (AJP) - South Korean stocks snapped a three-day losing streak on Thursday, closing marginally higher after surrendering most of their early gains in a volatile session that underscored the fragility of investor sentiment. The benchmark KOSPI closed at 7,291.91, up 0.62 percent. The index opened 3.31 percent higher and briefly climbed above the 7,500 level, but the early rally quickly faded after Bahrain and Kuwait sounded warning sirens and Qatar issued emergency security alerts July 9, 2026

PPP leader turns to hardline conservatives amid loosening grip within party SEOUL, July 9 (AJP) - Jang Dong-hyuk, the leader of the main opposition People Power Party (PPP) has taken his fight over a ballot shortage in last month's local elections out of Parliament and onto the streets, alarming lawmakers in his own party who fear that the campaign could pull conservatives back toward election fraud conspiracy theories. Jang began a nationwide tour on Wednesday to demand a re-run of the June 3 local elections along with an investigation into the ballot shortage con July 9, 2026

Convenience store chain CU opens 600th store in Mongolia SEOUL, July 9 (AJP) - Convenience store chain CU has opened its 600th store in Mongolia, about eight years after entering the market, BGF Retail, which operates CU, said on Thursday. The 600th store, located in Bulgan province about 600 kilometers west of Ulaanbaatar, opened on June 26. Spanning about 281 square meters, it targets tourists and long-haul transport drivers. Unlike typical convenience stores, the store offers shower facilities for travelers, following a similar strategy to instal July 9, 2026

Hong Myung-bo to testify at National Assembly hearing SEOUL, July 09 (AJP) - Former South Korea head coach Hong Myung-bo issued a new public apology Thursday over the national team's early exit from the 2026 World Cup, saying he would appear before a parliamentary hearing if called and take full responsibility for the result. The statement was released through the Hong Myung-bo Scholarship Foundation, a charity the 57-year-old 2002 World Cup hero himself chairs. It was made public on the day the National Assembly's Culture, Sports and Tou July 9, 2026

Korea's top court upholds ex-president's 7-year prison term SEOUL, July 9 (AJP) - Former President Yoon Suk Yeol was sentenced to seven years in prison after the Supreme Court on Thursday found him guilty of obstructing investigators' attempt to arrest him following his botched martial law debacle in December 2024. Thursday's ruling marks the first final verdict among the eight separate trials Yoon is facing over his Dec. 3 declaration of martial law. It came after a lower court sentenced Yoon to five years in prison in January, before an appel July 9, 2026

Unionized workers at Hyundai Motor to stage three-day partial strike next week SEOUL, July 9 (AJP) - Unionized workers at Hyundai Motor are expected to stage a three-day partial strike next week unless they reach a deal in ongoing wage negotiations. The union on Wednesday voted to hold a two-hour strike each day from next Monday through Wednesday before joining a nationwide general strike led by the Korean Metal Workers' Union on the final day. The move came after the collapse of their 15th round of talks earlier in the day, during which the company presented a revis July 9, 2026

Seoul leads broad Asian rebound after three-day rout SEOUL, July 09 (AJP) — South Korean stocks led a broad Asian rebound Thursday as chip heavyweights surged ahead of SK hynix's highly anticipated Nasdaq ADR debut, while the Bank of Korea's upbeat view on the semiconductor cycle helped outweigh growing skepticism over AI valuations on Wall Street. As of 10:37 a.m., the benchmark KOSPI jumped 2.87 percent to 7,454.62 after tumbling more than 10 percent over the previous three sessions. The junior KOSDAQ climbed 3.66 percent to 813.7 July 9, 2026

Korean won falls below 1,500 vs USD first time since late May SEOUL, July 8 (AJP) - The South Korean won strengthened below 1,500 to the dollar on Wednesday for the first time in some 27 trading days, supported by dollar-selling linked to SK hynix's planned American Depositary Receipts (ADRs) listing. The won stood at 1,498 per dollar as of 3:30 p.m., moving into the 1,400 range for the first time since May 29. The move marked a sharp reversal in just three days of trading since South Korea launched 24-hour onshore dollar-won spot trading on Monday. July 8, 2026

AI peak fears hammer Asia, KOSPI for second straight session SEOUL, July 08 (AJP) - A wave of panic selling triggered by fears that the AI chip boom may have peaked swept through Asia's technology-heavy markets on Wednesday, sending the KOSPI sharply lower for a second straight session and triggering sell-side sidecars on both the KOSPI and KOSDAQ as escalating Middle East tensions compounded the rout. The benchmark KOSPI tumbled 5.35 percent to 7,246.79, while the tech-heavy KOSDAQ slumped 5.56 percent to 785.00. The KOSPI opened 2.7 percent lower, July 8, 2026