Won rises to strongest level in nearly 11 months SEOUL, August 19 (AJP) - The South Korean won strengthened to below 1,400 per dollar on Wednesday for the first time in nearly 11 months, amid fading expectations of a September Fed rate cut and steady exporter dollar selling. The dollar-won exchange rate stood at 1,399 around noon, breaking below the 1,400 mark for the first time since Oct. 2, 2025, when it was at 1,399.5. As of 2:50 p.m., it stood at 1,398.3, compared with the previous day's daytime close of 1,411.8. The st August 19, 2026

S. Korea says no one knew Trump would cut joint drills SEOUL, August 19 (AJP) - South Korea had no advance word that President Donald Trump would order this week's combined military exercises cut back, and neither did officials in his own administration, the Minister of Foreign Affairs said Wednesday. The move shortened the exercise by nearly a week, underscoring a sudden and highly unusual shift in alliance operations. Cho Hyun told the National Assembly's Foreign Affairs and Unification Committee that the government learned August 19, 2026

Biotech firm surges after US approval of new cancer therapy SEOUL, August 19 (AJP) - Biotech firm Sillajen's shares surged on Wednesday, bucking a sharp market selloff, as the first U.S. approval of an oncolytic virus therapy in 11 years revived investor interest in companies developing similar cancer treatments. Its shares were trading 13 percent higher at 2,390 won in early afternoon trading after jumping as much as 29.79 percent to an intraday high of 2,745 won. The gain came despite a broad market selloff, with the benchmark KOSPI do August 19, 2026

Finance minister denies discrimination against US firms amid business concerns SEOUL, August 19 (AJP) - Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol said Wednesday that the South Korean government would never discriminate against foreign companies, stressing that businesses investing in the country should be treated the same as South Korean firms, regardless of where they are headquartered. At a luncheon meeting in central Seoul hosted by the American Chamber of Commerce in Korea (AMCHAM) in central Seoul, Koo made the remarks amid o August 19, 2026

AI-themed expo brings business leaders together in southern Seoul SEOUL, August 19 (AJP) - An artificial intelligence (AI)-themed business expo is underway in Seoul, according to the Korea International Trade Association (KITA) Organized by KITA, COEX and DMK Global, the AI Summit Seoul & Expo (AISE), which kicked off its three-day run at COEX in southern Seoul on Wednesday, runs through Friday, bringing together some 118 companies from seven countries. The expo, which combines an AI conference with a business exhibition, has expan August 19, 2026

South Korean retail investors flock to leveraged ETFs on Wall Street SEOUL, August 19 (AJP) - South Korean retail investors sharply increased their bets on U.S. stocks in July, pouring billions of dollars into leveraged funds and the American depositary receipts (ADRs) of chipmaker SK hynix amid a retreat in the domestic market, according to an analysis of Korea Securities Depository (KSD) data compiled by AJP on Wednesday. South Korean investors made US$3.79 billion in net purchases of the Direxion Daily Semiconductor Bull 3X Shares (SOXL) in July, August 19, 2026

AJP Fact Check: Trump's claims about two Koreas SEOUL, August 19 (AJP) - U.S. President Donald Trump ordered a reduction in joint military exercises with South Korea last Sunday, signaling the possibility of another summit with North Korean leader Kim Jong-un. The order came shortly before the Wall Street Journal reported that Trump was pushing for another meeting with Kim, a move that could revive the personal diplomacy that defined his first term. Many observers see the push as driven by the upcoming U.S. midterm elections amid August 19, 2026

KOSPI remains down 4 percent as KOSDAQ edges higher SEOUL, August 19 (AJP) - South Korean stocks were split Wednesday morning, with the KOSPI down more than 4 percent while the KOSDAQ edged higher. The benchmark KOSPI stood at 6,575.02 as of 10:30 a.m., down 4.34 percent. It had fallen as low as 6,400.81 shortly after the open before recovering some ground, with a high of 6,614.39. A sell-side sidecar was triggered shortly after the opening bell as KOSPI 200 futures tumbled, following an overnight selloff in U.S. chip stocks and August 19, 2026

LG Energy Solution's battery plant in Michigan begins production SEOUL, August 19 (AJP) - LG Energy Solution (LGES) has begun full operations at its plant in Lansing, Michigan, strengthening its production network for energy storage systems (ESS) to meet growing demand across North America, the company said on Wednesday. The facility is LGES' seventh such plant in North America and will serve as a combined manufacturing hub for lithium iron phosphate (LFP) batteries for ESS and nickel-cobalt-manganese (NCM) batteries for electric vehicles, August 19, 2026

LG shifts board leadership to independent directors ahead of tighter ESG rules SEOUL, August 19 (AJP) - LG Group has shifted the chairmanship of the boards at 11 major listed affiliates to independent directors, stepping up corporate governance changes as South Korea moves toward mandatory environmental, social and governance disclosures. LG Corp., the group's holding company, said it recently published its 2025 ESG report outlining sustainability performance and future plans across compliance, climate change and workplace safety. The report covers LG Co August 19, 2026