Early voting for local elections hits record high, but final turnout remains to be seen SEOUL, June 1 (AJP) - Early voting for South Korea's June 3 local elections wrapped up with a record-high turnout, fueling speculation that final turnout could surpass a previous record of 60.2 percent seen in the 2018 local elections, the highest level in nearly three decades. The National Election Commission (NEC) on Sunday said 10.49 million of the country's 44.64 million eligible voters cast ballots during the two-day early voting period held Friday and Saturday, for a turnout rate June 1, 2026

South Korea's reckoning with the AI century There is a phrase South Koreans invoke with quiet pride: bbaly bbaly — "quickly, quickly." It describes a national temperament forged in crisis, the same urgency that rebuilt a war-ravaged nation into an industrial titan within a single generation. But urgency alone, as Kwon Seok-jun, a semiconductor scholar at Sungkyunkwan University, recently warned, will not be enough for what comes next. The artificial intelligence age demands not just speed, but vision. South Korea stand May 30, 2026

Stock leverage, not typical housing as BOK's policy headache SEOUL, May 29 (AJP) — More than 60 trillion won ($39.9 billion) of leverage tied to South Korea’s stock market frenzy is emerging as a risk factor for both equities and the foreign-exchange market after the central bank all but signaled at least one rate hike in the second half. “While demand curves typically slope downward, heavy debt-fueled investment could reverse that pattern, as forced liquidations are triggered and funds are withdrawn when prices decline,” Bank of May 29, 2026

Early voting for local elections gets off to strong start SEOUL, May 29 (AJP) - Early voting for the June 3 local elections began across the country on Friday, with turnout already surpassing levels seen in previous elections, as President Lee Jae Myung and other prominent figures cast their ballots. According to the National Election Commission (NEC), voter turnout stood at 7.02 percent as of 2 p.m. on the first day of early voting, up 0.96 percentage points from 6.06 percent recorded during the 2022 local elections. Of the country's 44.64 milli May 29, 2026

A siren song from the BOK: the leverage party is over SEOUL, May 28 (AJP) -For a full year, the Bank of Korea sat motionless on a 2.50 percent benchmark while the KOSPI staged the most spectacular rally on the planet — up more than 93 percent since year-end, briefly flirting with 8,450 before Wednesday's close. On Thursday, the central bank's new governor finally said out loud what the bond market had been bracing for: the only questions left are when, how fast, and how far rates rise. A plain-spoken siren to the leverage crowd. Ne May 28, 2026

AJP Focus: The perils of chip boom SEOUL, May 28 (AJP) -The world is at the threshold of the artificial-intelligence revolution, and at the heart of that revolution sits the semiconductor — with Korea at the heart of the semiconductor. Only a few years ago memory prices had collapsed, inventories had swollen, and Samsung Electronics and SK hynix were enduring a brutal downturn alongside the rest of the slowing global economy. Then the AI era rewrote the board almost overnight. The generative-AI surge that followed ChatGPT May 28, 2026

AJP Focus: Seoul's nuclear submarine push raises broader regional security questions SEOUL, May 27 (AJP) - South Korea's new "Jangbogo N" nuclear-powered submarine program is raising questions over whether the project is designed primarily to deter North Korea or whether it could eventually become part of a broader U.S.-led effort to counter China. Officials have described the submarine as a symbol of Seoul's determination to take greater responsibility for its own security. But the move comes after the commander of U.S. Forces Korea recently described South K May 27, 2026

AJP Watch: Samsung puts on charm offensive after avoiding strike despite internal rift SEOUL, May 27 (AJP) - Samsung Electronics went on a multitrillion-won spending blitz Wednesday, pledging 5 trillion won ($3.6 billion) over the next five years to nurture talent and support suppliers on the very day it averted a historic strike by agreeing to hand out over 40 trillion won in rewards tied to this year’s blockbuster earnings and soaring share prices. Management and labor formally signed the 2026 wage agreement after union members approved the deal by 73.7 percent, with tur May 27, 2026

AJP Focus: 1,500 won per USD holds as capital outflows outweigh C/A surplus SEOUL, May 26 (AJP) - The South Korean won continues to hover near the 1,500-per-dollar mark despite solid economic indicators that would traditionally lift the currency, underscoring what analysts describe as a structural shift in the country's foreign exchange dynamics. The won closed at 1,504 against the dollar on Tuesday, holding sharply weaker than at the start of the year despite bullish readings on the current account, exports, and equities that have more than offset the inflationary May 26, 2026

OPINION: Starbucks, memory wars and South Korea's new political taboos SEOUL, May 26 (AJP) - There are taboos in South Korea that never fully fade with time. They remain politically radioactive, emotionally unresolved and socially unforgiving. Japanese colonial rule is one. The democratization movement is another. For decades, anti-communism and North Korea defined the country’s ideological fault lines. But modern South Korea has undergone a profound political inversion. Under the dominance of liberal President Lee Jae Myung and the ruling Democratic Party May 26, 2026