Chip boom puts BOK on tightening path, but spillover debate clouds outlook SEOUL, July 21 (AJP) - South Korea's bond market is increasingly pricing in another interest-rate increase this year after the Bank of Korea's July hike, as Governor Shin Hyun-song argues that the country's chip-driven income boom is beginning to generate demand-side inflation despite a still-sluggish domestic economy. Investors now widely expect the benchmark policy rate to reach 3.0 percent by year-end after the central bank last week raised it by 25 basis points to 2.75 percent, July 21, 2026

Coupang back under fire over warehouse automation's safety trade-off SEOUL, July 20 (AJP) - Fast delivery has long been at the core of Coupang's identity, helping transform South Korea into a republic of logistics. But a fire that was still burning Monday afternoon, more than 55 hours after breaking out at the company's state-of-the-art fulfillment center in Incheon, west of Seoul, underscored a new challenge facing increasingly automated warehouses - the costly trade-off between efficiency and the safety risks posed by lithium-powered robotics. The bl July 20, 2026

Korea's Q2 GDP to slow from Q1 but on track for around 3% annual growth SEOUL, July 20 (AJP) - South Korea's economy is expected to have expanded at a slower pace in the second quarter after a surprisingly strong start to the year, but growth is still likely to remain robust enough to keep the economy on track for around 3 percent expansion in 2026. The Bank of Korea will release its preliminary second-quarter gross domestic product data on Thursday, providing the first official gauge of whether the country's semiconductor-led export boom has continued to o July 20, 2026

Hanwha Philly Shipyard takes shape as first MASGA milestone SEOUL, July 20 (AJP) - Hanwha Philly Shipyard, the centerpiece of the South Korea-U.S. shipbuilding partnership under MASGA (Make American Shipbuilding Great Again), is taking shape as a milestone contract from the U.S. Missile Defense Agency transforms the once-overlooked yard into a test bed for deeper defense-industrial cooperation between the two allies. The Philadelphia-based shipyard, acquired by Hanwha Group for about $100 million in 2024, has been selected to build Missile Range Instrum July 20, 2026

Former K-pop idols face tough job market once spotlight fades SEOUL, July 16 (AJP) - K-pop's global rise has drawn a steady stream of young people hoping to become idols. But rising to stardom is only part of the story. When groups disband or contracts expire, many former performers must enter a job market where years of training and stage experience do not fit neatly into a conventional resume. They also face a difficult employment climate. As of February 2026, South Korea's employment rate for people aged 15 to 29 stood at 43.3 percent, down for July 16, 2026

Seoul aims for AI's top two, plans nationwide model this year SEOUL, July 16 (AJP) - South Korea's technology chief announced the country would push to break into the world's top two artificial-intelligence powers, buoyed by an international assessment ranking it third, and vowed to build a frontier model rivalling those Washington now guards as strategic weapons. Bae Kyung-hoon, Deputy Prime Minister and Minister of Science and ICT, told a presidential briefing on Thursday at the Cheong Wa Dae that a second round of model evaluations due in Augus July 16, 2026

A cartel ingredient behind Korea's sticky prices SEOUL, July 15 (AJP) - Even before the war in the Middle East reignited fears over higher food and fuel costs, South Koreans had grown accustomed to paying more at the checkout. Wars, supply-chain disruptions and inflation became familiar explanations every time prices climbed. Now, a wave of antitrust investigations suggests another force was also at work much closer to home. Regulators say some of the country's biggest food and fuel suppliers had been coordinating prices instead of co July 15, 2026

Homeplus goes dark, exposing the cost of Korea's biggest retail buyout SEOUL, July 14 (AJP) - Homeplus, once South Korea's second-largest hypermarket chain and a symbol of the country's modern retail boom, switched off the lights across its remaining stores on Monday after running out of cash, leaving roughly 12,000 employees, hundreds of suppliers and thousands of shopping mall tenants caught in what is becoming Korea's biggest retail collapse in decades. The nationwide shutdown marks the dramatic end of a company that once challenged E-mart for indus July 14, 2026

Gov't tightens household loans while mulling pension-backed borrowing options SEOUL, July 13 (AJP) - South Korea is tightening conventional household lending to contain debt growth while considering measures that could make it easier to borrow and invest against retirement savings, exposing a potential contradiction in its financial policy. One channel of household leverage is being restricted just as another could be opened. Household lending at the country's five largest banks - KB Kookmin, Shinhan, Hana, Woori and NH NongHyup - excluding government-backed loans r July 13, 2026

South Korea joins the world's new era of extreme summer SEOUL, July 12 (AJP) — South Korea has officially entered what meteorologists increasingly describe as the era of extreme summer, with authorities activating the country's highest-ever heat alert for the first time as scorching temperatures spread well beyond their traditional hotspots. The Korea Meteorological Administration on Sunday issued its inaugural Heat Wave Emergency Warning for Pohang and Gyeongsan after apparent temperatures were forecast to exceed 38 degrees Celsius follo July 12, 2026