AJP Watch: BOK's strongest-yet hike signal rattles markets SEOUL, May 28 (AJP) - After sitting on the benchmark at 2.50 percent for a full year, the Bank of Korea on Thursday issued the strongest-yet signal of a shift towards hikes of between 25 to 75 basis points, splashing cold waters on chip-blind stock frenzy. New Governor Shin Hyun-song, presiding over his first rate-setting meeting and media briefing, could hardly have been blunter about the direction ahead. "All the signs — price pressure, the growth trajectory, the exchange May 28, 2026

BOK ups 2026 estimates for GDP growth to 2.6%, inflation to 2.7% SEOUL, May 28 (AJP) - The Bank of Korea (BOK) expects the economy to grow 2.6 percent this year, which would be the strongest in four years, and inflation to rise at the fastest post-pandemic pace due to energy shocks from the prolonged Gulf crisis. The central bank on Thursday hiked its annual GDP growth projection from the previous 2.0 percent to 2.6 percent, marking the second consecutive upgrade following the BOK's move in February, when it revised the growth outlook upward from 1.8 pe May 28, 2026

BOK holds rate steady for year, keeps July move in play SEOUL, May 28 (AJP) — As widely expected, the Bank of Korea (BOK) on Thursday kept its benchmark interest rate unchanged at 2.5 percent for a full year, deferring a possible rate move to its next meeting in July as it judged the chip boom strong enough to offset the fallout from months-long Gulf disruptions and support stronger-than-expected economic growth. The first post-meeting briefing by new Governor Shin Hyun-song will be closely watched. The former BIS economist has long emphasized May 28, 2026

Samsung Electronics poised to join US$2 trillion club on memory upcycle, KB Securities forecasts SEOUL, May 28 (AJP) - Samsung Electronics is poised to reach a US$2 trillion market capitalization, KB Securities said Thursday, citing an intensifying memory upcycle, the chipmaker's leverage to Nvidia's next-generation Vera Rubin platform, and an emerging humanoid robotics strategy anchored by ties to Hyundai Motor Group. The brokerage raised its target price on Samsung to 530,000 won from 450,000 won, its second upgrade in two weeks following a 15 May revision. With the stock closing May 28, 2026

KOSPI rally cuts Korea's net external assets as foreign-held stocks surge SEOUL, May 27 (AJP) - South Korea’s external financial liabilities posted their fourth-largest quarterly increase on record in the first quarter, driven mainly by a sharp rise in the value of domestic stocks held by foreign investors. External financial liabilities refer to Korean assets owned by foreign investors, including local stocks and bonds. When the domestic stock market rises, the value of those foreign-held assets also increases, mechanically expanding Korea’s external l May 27, 2026

South Korea links Iranian missile to cargo ship attack SEOUL, May 27 (AJP) - The South Korean Ministry of Foreign Affairs announced Wednesday that an older Iranian anti-ship missile is highly likely to have struck the cargo ship HMM Namu earlier this month, signaling a sharp escalation in diplomatic tensions. The conclusion marks a decisive shift from the stance of strategic caution maintained by South Korea since the May 4 attack in the Strait of Hormuz. According to earlier government briefings and maritime records, the HMM Namu, a 38,000-ton mul May 27, 2026

Hyundai Rotem wins state projects for AI-based unmanned military robots SEOUL, May 27 (AJP) - Hyundai Rotem said Tuesday it has been selected for two state-funded research and development projects aimed at advancing unmanned robot technologies based on physical artificial intelligence. The company said it was chosen as the final contractor for two projects commissioned by the Ministry of Trade, Industry and Energy and the Agency for Defense Development (ADD). The industry ministry project focuses on developing control software that can manage multiple types of unm May 27, 2026

Mirae Asset lifts target prices for Samsung and SK hynix, citing memory re-rating SEOUL, May 27 (AJP) - Mirae Asset Securities has raised its target prices for Samsung Electronics and SK hynix on Wednesday, arguing that South Korea's two memory makers remain steeply undervalued against global peers even after this year's rally, a call based on a re-rating of valuations rather than any upgrade to earnings forecasts. The brokerage lifted its target for Samsung Electronics to 550,000 won ($366.7) from 480,000 won, up 14.6 percent, and for SK hynix to 3.8 million won fro May 27, 2026

USFK chief calls Korea a 'dagger' in Asia from China's strategic view SEOUL, May 27 (AJP) - Gen. Xavier Brunson, commander of U.S. Forces Korea, has described South Korea as a “dagger” in the heart of Asia from China’s strategic perspective, underscoring the peninsula’s growing role in Washington’s broader efforts to counter Beijing. According to the U.S. Army War College website on Tuesday, Brunson made the remarks during a podcast hosted by the school on May 22. “When they look out from the East Coast of China, what they see May 27, 2026

SK Square breaks clear of Hyundai as AI rally reshuffles Korea's top-five SEOUL, May 27 (AJP) - SK Square, SK Group's investment intermediate holding company, has surged past Hyundai Motor to become South Korea's third-most-valuable listed company, as a rally in artificial-intelligence shares reshapes the upper tier of the market beneath the two dominant chipmakers and rewards firms tied, directly or indirectly, to the semiconductor boom. As of Monday's close, SK Square ranked third at a market capitalization of 155.8 trillion won ($103.8 billion), Hyunda May 27, 2026