South Korea scrambles over EU's new steel trade curbs SEOUL, October 08 (AJP) -South Korea’s government and steelmakers are rushing to respond to the European Union’s latest protectionist move on steel imports, which adds to the heavy tariffs already imposed by the United States on steel and aluminum. The EU has issued a new set of barriers that halve import quotas and double tariffs beyond those limits, the Ministry of Trade, Industry and Energy said Tuesday. Under the European Commission’s proposed tariff-r October 8, 2025

Korean treasuries set for WGBI entry in April 2026 as planned: FTSE Russell SEOUL, October 08 (AJP) - South Korean government bonds will join the World Government Bond Index (WGBI) in April 2026 as scheduled, global index provider FTSE Russell confirmed Tuesday. The timeline, originally announced last year, had been revised from November 2025 to April 2026, triggering investor jitters over possible second thoughts about Korea’s sovereign credibility. The adjustment came just days after the Constitutional Court removed former President Yoon Suk October 8, 2025

Discount stores crowd Korea's $5 billion health supplement market SEOUL, October 08 (AJP) - The race for South Korea’s fast-growing health and dietary supplement market is intensifying as bargain retailers and convenience stores challenge traditional drugstores for a share of a wellness-driven, aging society where eight out of 10 households regularly take preventive supplements. According to Expert Market Research, Korea’s health supplement market was valued at $5.45 billion in 2024 and is projected to expand at a compound annual growt October 8, 2025

Gold prices hit record high, surpass $3,900 point SEOUL, October 06 (AJP) - Gold prices have reached an all-time high, surpassing $3,900 per troy ounce for the first time. This surge is attributed to increased demand for safe-haven assets amid the ongoing U.S. federal government shutdown. According to Reuters, gold prices briefly hit $3,919.59 early Monday, with December futures reaching $3,926.80. Gold has risen 49% this year, frequently setting new records. The price increase is driven by the prolonged U.S. governme October 6, 2025

Shrinking bonuses and heavier taxes leave S. Korean workers frustrated ahead of Chuseok SEOUL, October 06 (AJP) - As the Chuseok holiday approaches, many South Korean workers are expressing dissatisfaction. Economic uncertainty has led to reduced bonuses and increased tax burdens, dampening holiday spirits. More Time Off, Fewer Bonuses According to a survey by the Korea Employers Federation of 625 companies with five or more employees, only 60.4% plan to give Chuseok bonuses this year, down from 64.8% last year. This means 40% of companies are October 6, 2025

Seoul and Washington edge closer on currency safeguard amid protracted tariff talks SEOUL, October 06 (AJP) - South Korean Trade Minister Kim Jung-kwan said Monday that Seoul and Washington have reached a "considerable level of understanding" on concerns over possible turbulence in South Korea's foreign exchange market caused by the ongoing tariff negotiations with the United States. Speaking to reporters at Incheon International Airport after returning from New York, Kim said both sides were "narrowing their differences" on how to minimiz October 6, 2025

Korean automakers turn out sales growth despite US tariffs SEOUL, October 03 (AJP) - South Korea’s five major automakers posted a 5.4 percent increase in sales in September from a year earlier, overcoming stronger U.S. tariffs and partial union strikes at home. The companies shipped 683,150 vehicles last month, up 5.4 percent from a year ago, according to disclosures.Hyundai Motor sold 66,001 units domestically, up 18.3 percent, and 306,297 units overseas, up 6.4 percent, buoyed by robust performance of its key brands. “Ou October 3, 2025

LG Energy Solution to resume US trips one month after detention of S. Korean workers SEOUL, October 03 (AJP) - LG Energy Solution is sending staff back to the United States, ending a one-month freeze on business travel triggered by the mass detention of South Korean workers at its joint battery plant in Georgia. The move signals a step toward normalizing operations for South Korea’s battery industry, which had been rattled by the unprecedented crackdown. The company announced on October 2 that it would restart trips gradually after the Chuseok holiday, South October 3, 2025

Chuseok Now and Then: Pleasure Weighs Over Tradition in Korea SEOUL, October 02 (AJP) - Highways once jammed with cars crawling toward ancestral hometowns, kitchens filled with the labor of preparing feast tables, and families dressed in hanbok to perform rites of thanksgiving for the harvest—these were the defining images of Chuseok in South Korea. Today, in a depopulating society, the holiday looks very different. Many households skip or shorten the traditional observances, instead choosing leisure and travel. Inche October 3, 2025

KOSPI soars past 3,500 milestone for first time on semiconductor rally SEOUL, October 02 (AJP) - The main South Korean stock index, the KOSPI, surged to a historic close on Thursday, breaching the 3,500 level for the first time on record. Driven by a frenzied rally in technology and semiconductor shares, the benchmark index climbed 93.38 points, or 2.7 percent, to settle at 3,549.21, capping a day that saw the index peak at an intraday high of 3,565.96. The powerful upward trajectory was anchored by the nation's two memory chip giants. S October 2, 2025