Samsung Electronics to supply HVAC systems for premium housing project in India SEOUL, June 22 (AJP) - Samsung Electronics will supply air conditioning systems for a premium residential complex in India, as the company seeks to expand its HVAC business beyond commercial buildings into the residential market, the company said on Monday. The South Korean tech giant said it has partnered with Indian real estate developer Central Park to install more than 3,000 units of its residential air conditioning systems across 300 households at "The Orchard," a residential dev June 22, 2026

U.S.-Iran talks stalled and Hormuz remains uncertain SEOUL, June 22 (AJP) -The fate of the Strait of Hormuz remains uncertain as fragile negotiations between the United States and Iran teeter on the brink of collapse, raising the risk of another energy shock for a global economy still grappling with the worst inflationary aftermath since the pandemic. Talks in Switzerland broke down after Iranian negotiators walked out in protest over fresh threats from President Donald Trump, underscoring the fragility of a memorandum of understanding signed bet June 22, 2026

Lee reshuffles Cheong Wa Dae staff, names ex-Yonhap chief as communications adviser SEOUL, June 21 (AJP) - South Korean President Lee Jae Myung on Sunday named Seong Ghi-hong, a former chief executive of Yonhap News Agency, as his senior secretary for public communications, part of a reshuffle of his top Blue House aides at the start of his administration's second year. Han Chan-sik, a former attorney at the law firm Kim & Chang, was appointed senior secretary for civil affairs, while Kim Kyung-ja, an adjunct professor at Woosuk University and a former senior vice pre June 21, 2026

Montenegro seeks to adopt Kazakh digital governance model SEOUL, June 20 (AJP) - Montenegrin President Jakov Milatovic met with Kazakh President Kassym-Jomart Tokayev in Astana on June 19 to discuss adopting the digital transformation technologies of Kazakhstan to modernize his country's public administration. According to the Kazakhstan Ministry of Foreign Affairs, the talks mark a significant shift in international diplomacy as European nations increasingly seek administrative blueprints from emerging technological hubs outside the West. The sum June 20, 2026

KOSPI gives up record rally as profit-taking, Gulf jitters cool momentum SEOUL, June 19 (AJP) — South Korea's benchmark KOSPI surrendered a record-breaking rally Friday, retreating sharply from an all-time high above 9,300 as investors rushed to lock in profits after one of the fastest market surges in the country's history. The KOSPI closed down 0.13 percent at 9,052.42 after soaring nearly 3 percent earlier in the session and briefly crossing the 9,300 threshold for the first time ever. The benchmark later reversed course, falling as much as 2.56 pe June 19, 2026

Won swings near 1,540 before ending flat; bonds weaken on hawkish Fed SEOUL, June 19 (AJP) - The Korean won erased most of its intraday losses Friday after briefly approaching the 1,540 level against the dollar, while government bonds weakened as a hawkish Federal Reserve outlook kept pressure on Seoul’s financial markets. The won closed daytime trading at 1,527.0 per dollar, up 0.1 won from the previous session, according to Seoul foreign exchange market data. The currency came under heavy pressure early in the session as the dollar strengthened on expect June 19, 2026

Korea's C/A surplus with U.S. falls and US stockholdings doubles SEOUL, June 19 (AJP) - South Korea’s current account surplus with the United States fell for the first time in six years in 2025 amid rising cost of intellectual property and artificial intelligence services, central bank data showed Friday. The data showed that Korea’s goods surplus with the United States remained strong, but was increasingly offset by a wider services deficit and weaker income receipts. According to preliminary regional balance of payments data from the Bank of K June 19, 2026

World Cup 26: Korea falls to Mexico after second-half error SEOUL, June 19 (AJP) - South Korea lost 1-0 to Mexico in their second Group A match at the 2026 FIFA World Cup on Friday morning in Korea, leaving their knockout-stage fate to the final group match against South Africa. Mexico scored the only goal early in the second half, when Luis Romo reacted first after goalkeeper Kim Seung-gyu failed to hold the ball inside the box. South Korea must beat South Africa in their final group match to guarantee a top-two finish in Group A, while a draw would l June 19, 2026

Media giant JoongAng Ilbo defaults on 22 bln won SEOUL, June 19 (AJP) - South Korean newspaper JoongAng Ilbo has suffered an initial default on 22 billion won in commercial paper after failing to meet a creditor's early repayment demand due to a lack of funds. The financial failure marks a shocking development in the local media industry, as JoongAng Ilbo stands as one of South Korea's most iconic and influential major media groups. The default publicly exposes the severity of an escalating liquidity crisis threatening the publisher a June 19, 2026

World Cup 26: Korea hold Mexico scoreless at halftime SEOUL, June 19 (AJP) - South Korea and Mexico were locked at 0-0 at halftime in their Group A match at the 2026 FIFA World Cup on Friday morning in Korea, with both sides pressing aggressively but struggling to create clear chances. The match kicked off at Guadalajara Stadium in Zapopan, Mexico, at 10 a.m. Friday in Korea, or 9 p.m. Thursday local time. South Korea started with Kim Seung-gyu in goal, with Lee Han-beom, Kim Min-jae, Kim Moon-hwan, Lee Gi-hyuk and Seol Young-woo across the defen June 19, 2026