Battery frenzy lifts KOSDAQ while chip stocks drag KOSPI down SEOUL, June 29 (AJP) - A battery-led frenzy on South Korea's junior KOSDAQ masked a flat, chip-heavy KOSPI on the main bourse on Monday, splitting the country's stock market into two sessions running in opposite directions. The secondary-battery rally drove the KOSDAQ up 8.1 percent to 920.57, while the KOSPI slipped 0.2 percent to 8,394.65 as key chipmakers Samsung Electronics and SK hynix fell. Foreign investors turned net buyers on the main board, while institutional and retail buyi June 29, 2026

BOK hunts for successor to lead its research institute SEOUL, June 29 (AJP) - The Bank of Korea (BOK) is scouting for an economist who will head its affiliated research institute, the central bank said on Monday. According to its open recruitment notice, the successful candidate, who will replace incumbent Lee Jae-won, a former professor at Seoul National University who took the role in 2023, will head the Economic Research Institute and be responsible for shaping the BOK's medium- to long-term research agenda as chief economist, regardless of June 29, 2026

KOSDAQ nearly 7% higher ahead of major infrastructure spending SEOUL, June 29 (AJP) -South Korea's junior KOSDAQ index stole the limelight amid broad retreat in Asia, gaining more than 6 percent Monday morning on expectations of the government's unveiling of mega industrial projects led by Samsung Electronics and SK Group expected to announce private-sector investments that could exceed 1 quadrillion won over the next decade. President Lee Jae Myung is set to chair a national briefing later in the day outlining the projects, which center on semicon June 29, 2026

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