KOSPI opens lower as foreign selling hits chipmakers SEOUL, July 1 (AJP) - South Korea's benchmark KOSPI opened lower on Wednesday despite strong overnight gains in U.S. tech stocks, as foreign investors shrugged off a global semiconductor rally. With less than a couple of hours of trading, the index fell 1.62 percent to 8,339.34, while the junior KOSDAQ rose 2.84 percent to 942.21. The sluggish start came despite a strong performance on Wall Street overnight, with the Philadelphia Semiconductor Index surging 3.92 percent, while the Nasdaq C July 1, 2026

CJ CheilJedang overhauls business structure into three divisions SEOUL, July 01 (AJP) - CJ CheilJedang, South Korea's largest food company, announced it will restructure its operations into three divisions, scrapping its long-standing split between food and bio in a sweeping bid to sharpen competitiveness and quicken future growth. The overhaul replaces the company's two-pronged structure with three units: lifestyle food, technology materials and core materials. The firm said Wednesday it would move decisively to wind down low-margin, low-growth busi July 1, 2026

Lee set to hold luncheon with former President Moon at Cheong Wa Dae SEOUL, July 1 (AJP) - President Lee Jae Myung is set to hold a luncheon meeting with former President Moon Jae-in at Cheong Wa Dae in Seoul on Wednesday. The meeting is intended to provide Lee with an opportunity to hear Moon's views on state affairs and seek advice on key national issues, according to presidential officials. Much attention is being paid to what the two are to discuss at their first meeting since Lee took office in June last year, including whether they will address party July 1, 2026

South Korea's foreign direct investment rises for 3rd consecutive quarter SEOUL, June 30 (AJP) - South Korea's foreign direct investment (FDI) rose in the first three months of this year, extending its growth streak to a third consecutive quarter. According to data released Tuesday by the Ministry of Finance and Economy, the country’s FDI reached $21.74 billion in the first quarter, up 36.2 percent from a year earlier, led by investment in financial and insurance services and a sharp increase in flows to the U.S. The growth followed a 5.7 percent on-year d June 30, 2026

AI investment push, chip rally lift KOSPI; KOSDAQ slips SEOUL, June 30 (AJP) - South Korean stocks ended mixed on Tuesday as semiconductor heavyweights led a sharp recovery in the benchmark KOSPI after morning losses, helped by stronger U.S. chip stocks overnight and the South Korean government's fresh support for artificial intelligence semiconductors, while the junior KOSDAQ slipped as investors took profits in battery and biotechnology shares. The benchmark KOSPI closed up 0.97 percent at 8,476.48. The index had fallen as low as the 8,220 lev June 30, 2026

World Cup 26: Brazil stop Japan, Germany crash out, Morocco advance SEOUL, June 30 (AJP) - Brazil ended Japan's upset bid with a dominant second-half comeback, Germany suffered another World Cup collapse and Morocco extended its recent run of strong international results as the 2026 FIFA World Cup round of 32 continued on Monday. Brazil came from behind to beat Japan 2-1 at Houston Stadium in Houston, Texas, in a match that kicked off at noon local time. Japan took the lead in the 29th minute through Kaishu Sano, whose long-range strike rewarded a discipli June 30, 2026

Korea sees sharpest rise in zombie firms among major economies SEOUL, June 30 (AJP) -Despite the benchmark KOSPI's spectacular run, South Korea saw the largest increase in the share of zombie companies among major economies between 2017 and 2025, with more than one in four listed firms unable to cover interest expenses with their earnings for three consecutive years, the country's largest business lobby said Tuesday. The Federation of Korean Industries said marginal companies accounted for 27.6 percent of Korea's listed firms in 2025, up 15.8 June 30, 2026

Samsung Electronics' largest union votes to retain chief SEOUL, June 30 (AJP) - The Samsung Electronics chapter of Samsung Group's Super Enterprise Labor Union (SELU), the company's largest labor union, has reaffirmed confidence in its head Choi Seung-ho after he brokered record compensation package for chipmaking employees, the union said Monday. According to the union, 33,550 of 38,336 participating members, or 87.52 percent, voted in favor of retaining Choi as chairman. The vote was held from June 24 to June 30, with 38,336 of 54,165 elig June 30, 2026

Pension overhang drags KOSPI, Tokyo rallies SEOUL, June 30 (AJP) - Korean stocks opened lower Tuesday as investors positioned for the National Pension Service to resume domestic equity sales from July, a supply overhang that dragged the KOSPI down even as Tokyo rallied and the local tech-heavy KOSDAQ climbed. The benchmark KOSPI fell 0.2 percent, shedding 20.19 points to 8,374.46, while the KOSDAQ rose 0.9 percent to 929.33. Foreigners drove the move, selling a net 808.7 billion won (522.0 million dollars) on the main board against buyi June 30, 2026

Korea's May factory output falls by steepest in a year on lower chip turnout SEOUL, June 30 (AJP) - South Korea’s industrial output fell for a second straight month in May as factory output dropped 3 percent on chip delivery adjustments, underscoring the weight of chipmaking on the economic performance, government data showed Tuesday. Manufacturing production fell 3.0 percent from the previous month, the steepest fall in a year, and dropped 0.9 percent from a year earlier. Output in the broader mining and manufacturing likewise fell 3.0 percent from April. The in June 30, 2026