Korea's effective exchange rate at two-year high on export boom SEOUL, October 26 (AJP) -South Korea’s nominal effective exchange rate has climbed to its highest level in about two years as booming exports and a large current account surplus underpin the won’s recovery. The won’s trade-weighted nominal exchange rate index reached 94.83 on Oct. 20, according to latest Bank for International Settlements posting. That was its highest reading since Oct. 9, 2024, when it stood at 94.91. The index measures the won against a ba October 26, 2026

South Korea's top 10 businesses lose 1,100 trillion won in market cap amid stock sell-off SEOUL, October 25 (AJP) - South Korea's 10 largest business groups have lost more than 1,100 trillion won (US$830 billion) in combined market capitalization this month as a sharp stock sell-off wiped out gains across major conglomerates, with chipmakers and shipbuilders among the hardest hit. According to financial information provider FnGuide, the combined market capitalization of the country's 10 largest business groups stood at about 3,371.44 trillion won as of Friday, do October 25, 2026

Nearly 60% of temps remain trapped in cycle of non-regular jobs, survey finds SEOUL, October 25 (AJP) - Fewer than a quarter of temporary or contract-based workers have managed to land permanent positions, while nearly 60 percent continue to move from one non-regular job to another after their contracts end, a survey showed on Sunday. According to a survey of about 1,000 workers conducted earlier this month by Gapjil 119, a nonprofit civic organization that works to combat workplace abuse and harassment, only 14.7 percent of the 463 respondents who had worked October 25, 2026

Hanmi's next obesity drug candidate gets WHO name, with Eppe poised for launch SEOUL, October 25 (AJP) - Hanmi Pharmaceutical's next-generation obesity drug candidate has been assigned its international nonproprietary name, zantrutide, by the World Health Organization (WHO), according to the pharmaceutical company. Now named zantrutide, HM15275 is a triple agonist that targets three receptors, GLP-1, GIP and glucagon, which are involved in appetite regulation and metabolism. The WHO assigns INNs to standardize the names of pharmaceutical substances worl October 25, 2026

South Korea's Q2 current account surplus ranks second only to China SEOUL, October 25 (AJP) - South Korea's current account surplus in the second quarter was the second largest among major economies, behind only China's, according to data compiled by the Bank of Korea and released on Sunday. Based on an analysis of International Monetary Fund (IMF) figures, the central bank said the country's current account surplus reached US$116.63 billion during the period between April and June and surpassed the combined surpluses of Germany and Japa October 25, 2026

North Korean leader returns from China after brief visit without meeting Xi SEOUL, October 25 (AJP) - North Korean leader Kim Jong-un returned home after briefly visiting a Korean War memorial in Dandong, China, state media reported on Sunday. Kim toured the memorial in the border city the previous day to mark the 76th anniversary of Chinese troops' entry into the 1950-53 Korean War, reaffirming Pyongyang's longstanding ties with its traditional ally, according to the Korean Central News Agency (KCNA). Accompanied by his sister Yo-jong an October 25, 2026

Kim Jong-un visits China via newly opened Yalu River bridge SEOUL, October 24 (AJP) — North Korean leader Kim Jong-un visited China on Saturday, arriving in the border city of Dandong via a newly opened bridge in his first trip there in more than a year. South Korea's Ministry of Unification said Kim entered Dandong in China's northeastern Liaoning Province through the New Yalu River Bridge earlier in the day. The bridge connects Dandong with the North Korean border city of Sinuiju across the Yalu River, known as the Amnok October 24, 2026

North Korea's growth may have exceeded BOK estimate SEOUL, October 24 (AJP) — North Korea's economy may have grown faster last year than the Bank of Korea estimated as wartime income from Russia, closer trade with China and cybercrime generated unusually strong external inflows, a U.S. expert said. Troy Stangarone, co-chair of the North Korea Economic Forum at George Washington University's Institute for Korean Studies, said at a forum in Washington on Thursday that the external economic environment facing North Korea October 24, 2026

Suspected North Korea-linked hackers target Korean banks, government SEOUL, October 24 (AJP) — A suspected North Korea-linked hacking operation is preparing cyberattacks against government agencies and financial institutions, including those in South Korea, by exploiting newly discovered weaknesses in software widely used to run websites. Singapore-based cybersecurity firm CYFIRMA said it detected Korean-speaking operators discussing targets and attack preparations on a closed anonymous network on Thursday. The firm said it was highly conf October 24, 2026

Korea cuts red tape to speed chip fab construction SEOUL, October 24 (AJP) — South Korea plans to cut semiconductor industrial complex development times to within five years by fast-tracking permits, compensation and design, the government said Friday. The plan would reduce the period from industrial complex planning to fab operations from more than 10 years by allowing approvals, land compensation and design procedures that are largely carried out sequentially to proceed simultaneously. The measure is part of 13 regulato October 24, 2026