USD/KRW spikes as NPS reportedly halts FX hedging SEOUL, September 07 (AJP) - The South Korean won abruptly reversed direction Monday after testing a near two-year high against the U.S. dollar, following a report that the National Pension Service (NPS) had suspended foreign-exchange hedging activity that helped support the currency during its sharp slide earlier this year. The dollar-won rate jumped to around 1,346 won by 12:30 p.m. after falling into the 1,336 range earlier in the session, reversing by roughly 10 won from its intr September 7, 2026

South Korea leans on AI boom as consumer recovery lags SEOUL, September 07 (AJP) - South Korea's economy is riding a wave of artificial intelligence investment that has powered exports and factory equipment spending to blistering growth, even as the windfall struggles to reach ordinary households, the state run Korea Development Institute (KDI) said. In its September economic assessment released Monday, the KDI said the recovery remains narrowly anchored to sectors tied to the global AI build-out. Data said that sectors including September 7, 2026

KOSPI nears 6,900 on chip rally SEOUL, September 07 (AJP) - South Korean KOSPI jumped nearly 3 percent Monday morning as foreign and institutional investors poured money into semiconductor heavyweights on renewed AI euphoria fueled by Nvidia's aggressive investment push. The benchmark KOSPI stood at 6,880.29 as of 10:30 a.m., up 2.9 percent from Friday's close. The index rose as high as 6,923.64, or about 3.5 percent, earlier in the session before pulling back. Its intraday low was 6,867.90. Foreign September 7, 2026

Lee's approval rating sinks further SEOUL, September 7 (AJP) - President Lee Jae Myung's approval rating fell further, extending its downward spiral for an eighth straight week, a poll released on Monday shows. According to pollster Realmeter's survey of more than 2,500 adults nationwide conducted last week, 37.4 percent of respondents said Lee was doing a good job, down 1.5 percentage points from the previous week and marking an eighth consecutive week of decline. It was also the lowest level since he too September 7, 2026

Russia ships Vostok oil as South Korea tests Arctic route SEOUL, September 07 (AJP) - Russia has shipped the first crude oil from its Vostok Oil project through the Arctic, highlighting Moscow's push to expand the Northern Sea Route just as South Korea conducts its first trial voyage by a container ship along the same corridor. The first batch of crude from Vostok Oil, a major development project in Russia's Arctic Taimyr region, was loaded Friday at a newly built terminal in Sever Bay onto the ice-class tanker Valentin Pikul, acco September 7, 2026

KRW/USD enters 1,330 range for first time in 23 months SEOUL, September 07 (AJP) - The South Korean won climbed to its strongest level against the greenback in nearly 23 months Monday as exporters rush to convert their dollar holdings for fiscal settlement. The USD/KRW exchange rate traded at around 1,335.9 won as of 10 a.m. The pair entered the 1,330 range for the first time since Oct. 4, 2024, when the exchange rate traded between 1,331 and 1,335 won before closing daytime trading at 1,333.7 won. The won's advance stood out September 7, 2026

Battery scans read bumps as ion movement: KAIST SEOUL, September 07 (AJP) - Some of the signals that battery researchers read as ions moving inside a material are produced by nothing more than an uneven surface, a team at the Korea Advanced Institute of Science and Technology found, and the correction is as simple as polishing the sample flat. The team tested the effect on single-crystal silicon, a material in which no ions travel, after machining fine trenches into its surface, and a signal resembling ion movement appeared any September 7, 2026

Krafton steers India bet toward AI, robotics SEOUL, September 07 (AJP) - Krafton will invest an additional $250 million in India over the next three to four years, pushing beyond mobile gaming into artificial intelligence, the company said after its founder met Prime Minister Narendra Modi. The move deepens a push that already runs through a South Korean consortium as Krafton earlier this year joined internet giant Naver and asset manager Mirae Asset to launch the $670 million Unicorn Growth Fund, an India-focused vehicle back September 7, 2026

Lee arrives in Nice ahead of summit with Macron in Paris SEOUL, September 7 (AJP) - President Lee Jae Myung arrived in Nice on Sunday as part of his four-day trip to France before traveling to Paris later this week for talks with French President Emmanuel Macron. Lee is set to begin his itinerary by attending the Lumiere Summit in Saint-Paul-de-Vence, an international gathering of film and audiovisual industry leaders, where he and Macron will co-chair discussions on the future of cinema and the global media landscape. The gathering September 7, 2026

CJ CheilJedang chases Asia growth with Singapore lab SEOUL, September 07 (AJP) - CJ CheilJedang is racing to win Asia-Pacific food makers over to its fermented seasonings, opening a Singapore technical center as South Korea's largest food company bets on cutting salt and additives to drive its next wave of overseas growth. The facility announced Monday, located in Singapore's Biopolis research cluster, is the company's fifth Global Technical Center after sites in South Korea, Chicago, and the Dutch city of Wageningen. I September 7, 2026