Hormuz reopens, nuclear unanswered: what's new in the U.S.-Iran deal? SEOUL, June 18 (AJP) - The U.S.-Iran Memorandum of Understanding (MoU) stops the shooting and reopens the Strait of Hormuz toll-free at least for the next 60 days, but leaves the nuclear endgame unresolved and a $300 billion question hanging over who picks up the war tab. The MoU has entered into force following an electronic signing by U.S. President Donald Trump and Iranian President Masoud Pezeshkian, according to Iran’s Foreign Ministry spokesperson Esmaeil Baghaei and a White House o June 18, 2026

Won, bonds stay quiet as BOJ risk fades, Fed decision looms SEOUL, June 17 (AJP) - South Korea’s currency and bond markets remained calm Wednesday as investors looked past the Bank of Japan’s rate hike and shifted their attention to the Federal Reserve’s first policy decision under Chair Kevin Warsh. The won’s market average rate strengthened 5.3 won to 1,514.75 per dollar, showing limited volatility despite Tuesday’s BOJ decision to raise interest rates to 1 percent for the first time in 31 years. Korean government bond y June 17, 2026

KOSPI extends rally as SK hynix tops 2.5 Million won for first time SEOUL, June 17 (AJP) - South Korea's benchmark KOSPI extended its gains Wednesday as investors rotated into semiconductors, power-cable shares and biotechnology, even as foreign investors turned heavy sellers on the main bourse. The benchmark KOSPI closed up 1.6 percent at 8,864.24, after moving between an intraday high of 8,872.18 and a low of 8,605.66. Foreign investors sold 1 trillion won worth of shares on the main bourse, while institutions bought 581.9 billion won ($384.9 million) and June 17, 2026

World Cup 26: Europe sweeps, Asia holds ground, Messi lifts South America SEOUL, June 17 (AJP) - Europe restored order at the 2026 FIFA World Cup on Tuesday local time, or Wednesday in Korea, as France, Norway and Austria all won their opening matches while Asia’s unbeaten start came to an end. Argentina also gave South America its first win of the tournament, with Lionel Messi delivering a record-tying hat trick in a victory over Algeria. The day marked a sharp turn from the early group-stage pattern, when Asian teams had gone unbeaten and South American side June 17, 2026

Foreign tourist spending in S. Korea hits record $1.3bln on local lifestyle boom SEOUL, June 17 (AJP) - Credit card spending by foreign tourists in South Korea reached an all-time monthly high in May, fueled by a surge in visitors adopting everyday local lifestyle trends, the Korea Tourism Organization said Wednesday. Over the last few years, global interest in South Korean culture has shifted from entertainment like music and television to everyday fashion, beauty, and wellness. This growing fascination has changed how tourists shop, drawing them away from traditional souv June 17, 2026

Former trade deputy to spearhead U.S. investment body SEOUL, June 17 (AJP) - Former Deputy Minister for Trade Park Jong-won has been named the inaugural head of the Korea-U.S. Strategic Investment Corporation, a day before the Special Act for Korea-U.S. Strategic Investment Management takes effect to launch the state-backed body tasked with overseeing South Korea’s $350 billion investment commitment to the United States. The Ministry of Economy and Finance and the preparatory committee for the new state entity announced the appointment Wedne June 17, 2026

Lee's approval falls below 50%, down 16 points in a month SEOUL, June 17 (AJP) - South Korean President Lee Jae Myung's approval rating fell below 50 percent for the first time since taking office last June, extending a five-week slide that has erased more than 16 percentage points of support in just over a month, a new poll showed Wednesday. According to a survey conducted by polling firm Cho Won C&I on behalf of Straight News from June 13 to 15 among 2,001 adults nationwide aged 18 and older, Lee's approval rating stood at 47.7 percent, June 17, 2026

Asia markets sideline ahead of Fed decision, Nikkei sole gainer SEOUL, June 17 (AJP) - South Korea's main index took a light breather after a nonstop four-day rally of more than 12 percent as foreign investors turned sellers ahead of the U.S. Federal Reserve's policy decision. As of 10:30 a.m., the benchmark KOSPI stood at 8,703.90, down 0.3 percent from the previous session. The index moved between an intraday high of 8,727.58 and a low of 8,605.66. Foreign investors turned sellers after three consecutive sessions of buying, offloading a net 974.3 June 17, 2026

World Cup 26: Korea zooms up to 13th in The Athletic's reranking SEOUL, June 17 (AJP) - South Korea was upgraded to 13th in The Athletic's latest ranking of all 48 teams at the 2026 FIFA World Cup after opening the tournament with a comeback win over Czechia. The Athletic, the sports outlet owned by The New York Times, placed South Korea ahead of Uruguay, Senegal, Egypt, Belgium, the United States and Japan, despite the team sitting outside the top 20 in FIFA's official world rankings. South Korea defeated Czechia 2-1 in its Group A opener at Guadal June 17, 2026

Won, bonds stay calm despite BOJ hike; credit spread widens slightly SEOUL, June 16 (AJP) - South Korea’s foreign exchange and bond markets remained largely steady Tuesday despite the Bank of Japan’s first rate hike to 1 percent in 31 years, while corporate credit showed mild signs of caution following default concerns at JoongAng Group affiliates. The won closed at 1,513.5 per dollar, little changed from the previous session. Korean government bond yields fell. The three-year yield dropped 2.7 basis points to 3.717 percent, while the 10-year yield June 16, 2026