BOK to hold rate for yearlong this week and hike growth target SEOUL, May 26 (AJP) - The Bank of Korea is widely expected to hold the benchmark rate at 2.50 percent, unchanged for a year, while sharply raising its 2027 growth outlook to around 2.5 percent from 2 percent to lay the groundwork for eventual tightening against mounting inflationary pressures from elevated energy prices, rising wages and overheated asset markets as the AI boom cushions the economy from the prolonged Gulf crisis. An AJP poll on economists found unanimous expectations for a rate May 26, 2026

AJP Focus: Asia's energy shock far from over despite Hormuz reopening talks SEOUL, May 26 (AJP) - South Korea and other Asian economies heavily dependent on Gulf energy supplies are bracing for prolonged disruptions even as diplomatic momentum builds toward a potential reopening of the Strait of Hormuz, with analysts warning that supply chains, refining operations and shipping flows could take months to normalize. Iran is expected to allow commercial shipping through the strait about 30 days after a peace agreement with Washington is finalized, Nikkei reported Monday, May 26, 2026

AJP Watch: Shinsegae vows to make amends "regardless of cost" over Starbucks Korea blunder SEOUL, May 26 (AJP) - Shinsegae Group Chairman Chung Yong-jin on Tuesday delivered a second public apology within a week over Starbucks Korea’s controversial “Tank Day” promotion, bowing repeatedly in a televised appearance and pledging to restore public trust through action rather than words after what the group described as a “serious” failure in historical awareness. Speaking at the Josun Palace hotel in Seoul, Chung bowed deeply three times during a five-minute May 26, 2026