Seoul backs K-beauty inroads to Saudi Arabia SEOUL, June 29 (AJP) -South Korea is stepping up support for K-beauty companies seeking to enter Saudi Arabia, betting the kingdom's rapidly expanding consumer market will become the industry's next major growth engine as Korean cosmetics exports continue to break records. The Ministry of SMEs and Startups said Monday it will launch a new program to help small and medium-sized cosmetics companies expand into Saudi Arabia, one of the Middle East's fastest-growing beauty markets, as S June 29, 2026

Kakao union holds this month's second "log-out" day SEOUL, June 29 (AJP) -Messaging at Kakao, whose chat platform is used by most South Koreans, is expected to remain unaffected by a one-day collective union action to log off from work on Monday. Kakao said it has activated a real-time response system to ensure stable operation of KakaoTalk and other key services and minimize inconvenience to users as unionized workers stage what they call a "Logout Day." The action comes after labor and management failed to narrow differences over June 29, 2026

Seoul with Samsung and SK to unveil 10-year chip expansion roadmap SEOUL, June 29 (AJP) -South Korea on Monday is unveiling a 10-year roadmap to cement its chipmaking supremacy through the AI transition, spending that could cost household conglomerates Samsung and SK well above $650 billion. The map redrawing will be announced at 2 p.m. at the presidential office of Cheong Wa Dae, where President Lee Jae Myung will be joined by Samsung Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won and ministers overseeing industry, science, energy, climate and land to June 29, 2026

Lee to unveil mega chip cluster plan amid already heated debate SEOUL, June 28 (AJP) - President Lee Jae Myung is set to unveil a mega plan this week to build a new semiconductor cluster, an initiative involving massive investment that could reshape the country's chip industry. Lee is expected to outline details of the plan during a press briefing scheduled for 2 p.m. on Monday, with Samsung Group chairman Lee Jae-yong and SK Group chairman Chey Tae-won also in attendance, according to presidential spokesperson Kang Yoo-jung on Sunday. The proposal, pa June 28, 2026

South Korea's round of 32 hopes dashed at World Cup SEOUL, June 28 (AJP) - South Korea's hopes of reaching the round of 32 at this year's World Cup were shattered after DR Congo secured a 3–1 win over Uzbekistan, eliminating the country's last remaining slim chance of advancing to the next round. South Korea, which finished third in its group after losing to South Africa in its final group-stage match in Monterrey in northeastern Mexico last week, had been relying on luck, waiting for results of matches from other groups to adv June 28, 2026

South Korea pins hopes on luck for World Cup round of 32 SEOUL, June 26 (AJP) - South Korea's hopes of reaching the round of 32 at this year's FIFA World Cup remain alive, but their path has become more complicated as key group-stage matches elsewhere have tightened the race for a berth in the next round. With this year's expanded 48-team tournament split into 12 groups hosted by three countries - Canada, Mexico, and the U.S., the top two finishers from each group advance to the knockout stage, along with the eight best third-placed teams June 26, 2026

Korea, Asia sink on Apple price shock SEOUL, June 26 (AJP) - Korea's KOSPI fell 5.8 percent Thursday as Apple's overnight price hikes on Macs and iPads and a report that OpenAI may delay its IPO until 2027 sent a second wave of selling through Asian technology stocks, with memory chipmakers in Seoul, semiconductor equipment names in Tokyo, and AI-linked equities in Shanghai all closing sharply lower. The KOSPI shed 519.09 points to close at 8,411.21. SK hynix led the decline, falling 8.4 percent, while Samsung Electronics d June 26, 2026

This week's second circuit breaker triggered after 8% fall in KOSPI SEOUL, June 26 (AJP) -The second circuit breaker this week halted the KOSPI after the benchmark crashed more than 8 percent Friday, following a similar rout three trading on Tuesday, on heavy foreign and institutional selling over concerns of slowing memory demand amid broad chip-flation. The Korea Exchange suspended trading on the KOSPI market for 20 minutes at 12:10:12 p.m. after the benchmark remained more than 8 percent below the previous session's close for one minute. The KOSPI was June 26, 2026

Samsung SDS employees asked to replace cash bonuses with treasury stock SEOUL, June 26 (AJP) — Samsung SDS is seeking employee approval to replace cash performance bonuses with company stock after a landmark Supreme Court ruling recognized such bonuses as wages. According to multiple industry sources on Friday, the company has begun a vote on a proposal to abolish its current cash incentive program and instead award annual performance bonuses entirely in the form of Samsung SDS shares. The vote is scheduled to close on June 29. The proposal follows a Januar June 26, 2026

KOSPI and Nikkei under profit-taking pressure SEOUL, June 26 (AJP) — South Korean and Japanese shares fell Friday on broad profit-taking after the previous session's Micron Technology-fueled chip rally, while oil prices, which had returned to prewar levels, turned higher on reports of a suspected attack near the Strait of Hormuz. As of 10:16 a.m., the benchmark KOSPI was down 2.72 percent at 8,687.50. The junior KOSDAQ fell 1.08 percent to 878.20. Japan's Nikkei 225 declined 3.0 percent to 70,174.53. In Seoul, foreign inves June 26, 2026