KOSDAQ at 30 bares Peter Pan syndrome SEOUL, July 01 (AJP) – KOSDAQ, South Korea's answer to the Nasdaq, turned 30 on Wednesday. But the celebration was notably subdued as the junior market remains trapped in a kind of Peter Pan syndrome, unable to match the spectacular rise of its bigger sibling, the KOSPI. While the benchmark KOSPI has quadrupled over the past 18 months, KOSDAQ has barely moved. After standing at 925 eighteen months ago, it closed its 30th anniversary at 929.35. The market debuted at 1,000 July 1, 2026

KOSDAQ celebrates 30 with little fanfare and KOSPI lower SEOUL, July 01 (AJP) - South Korean stocks closed the first trading day of the second half in sharply divided fashion Wednesday, with heavyweight chipmakers pulling the KOSPI lower while power-equipment, cable and policy-linked growth stocks rallied on expectations for the Lee Jae Myung administration's mega investment agenda. The session also marked the 30th anniversary of the KOSDAQ market. Financial Services Commission Chairman Lee Eok-won said at a KOSDAQ annivers July 1, 2026

Kia posts record first-half sales as EV demand surges SEOUL, July 1 (AJP) - Kia, an affiliate of Hyundai Motor Group, sold 1.63 million vehicles in cumulative sales for the first six months of this year at home and abroad. According to the automaker, it was the highest-ever first-half figure since Kia began selling vehicles in 1962. In June alone, it sold 295,720 vehicles worldwide, up 9.5 percent from a year earlier including 54,508 at home and 240,259 overseas. It also sold about 953 special-purpose vehicles, including 473 in the July 1, 2026

SK hynix details upcoming U.S. listing, adds antitrust suit risk in SEC filing SEOUL, July 01 (AJP) - South Korean memory chipmaker SK hynix has amended its registration statement for a planned U.S. Nasdaq listing, detailing a fresh legal challenge while leaving its core offering terms blank, a U.S. regulatory filing showed. According to its amended Form F-1/A filed with the U.S. Securities and Exchange Commission (SEC) on Wednesday, the company added a newly initiated antitrust class action to its "Risk Factors." The lawsuit, filed on June 25 i July 1, 2026

Britain's defense push adds new variable to Canada submarine equation SEOUL, July 01 (AJP) - Britain's latest defense spending plan has added a new variable to Canada's multibillion-dollar submarine equation, strengthening South Korea's industrial partnership with London as Seoul and Germany compete for one of Ottawa's biggest military contracts. The British government on Tuesday unveiled an additional 15 billion pounds ($20 billion) in military spending, focusing on drones, autonomous systems, next-generation fighter aircraft and othe July 1, 2026

Visa fee waiver for group tourists extended until end of this year SEOUL, July 1 (AJP) - South Korea has extended its visa fee waiver program for group tourists from six countries including China, the Philippines, and Viet Nam until the end of this year, the Ministry of Justice said on Wednesday. The extension also applies to those from Cambodia, India and Indonesia, and aims to further boost foreign tourism. The fee waiver, which was supposed to expire in June, eliminates a US$15 (about 22,500 won) charge for group visa applications. As th July 1, 2026

NPS chief denies "bombshell" selling at KOSPI for rebalancing SEOUL, July 01 (AJP) - The head of South Korea’s National Pension Service pushed back Wednesday against speculation that the fund could trigger a massive selloff in domestic shares, saying fears of a so-called 74 trillion won “selling bomb” were exaggerated. Kim Sung-joo, chairman of the National Pension Service, said in a Facebook post that the 74 trillion won figure was “wrong” and “absurd.” “Even if the National Pension Service July 1, 2026

Military academy alumni groups to stage first joint protest against merger plan SEOUL, July 01 (AJP) - Alumni associations representing South Korea’s Army, Navy and Air Force academies will stage their first joint action next week against the government’s plan to integrate the three military schools. The associations are scheduled to hold a rally outside the National Assembly on July 8, according to parliamentary and alumni group officials Wednesday. The event is expected to be jointly hosted by the three alumni associations, security groups and July 1, 2026

What better way to beat Seoul summer than with samba heat? SEOUL, July 01 (AJP) - The vibrant sounds of Brazil echoed through central Seoul on Wednesday as Lotte World Adventure brought a burst of carnival spirit to Myeong-dong, staging a colorful street performance to mark the start of its annual summer festival. Brazilian dancers in dazzling feathered costumes paraded along Myeong-dong's UNESCO Street, captivating shoppers and tourists with energetic performances that briefly transformed one of Seoul's busiest c July 1, 2026

South Korea hikes postal rates amid mounting deficit SEOUL, July 1 (AJP) - Postal prices have been hiked for the first time in nearly five years, with basic rates rising from 430 won (about US$0.29) to 500 won, Korea Post said on Wednesday. Under the hikes taking immediate effect from the first day of July, standard mail now costs 500 won for letters between 5 grams and 25 grams and 520 won for those over 25 grams and up to 50 grams. The adjustment comes amid declining mail volumes in an increasingly digital era. The state-run p July 1, 2026