Seoul to freeze utility charges and lower pump price cap SEOUL, June 26 (AJP) -South Korea will freeze public utility rates in the second half and lower the ceiling on gasoline prices to help restore energy costs to pre-war levels and contain inflation under 3 percent, while rolling out 1 trillion won ($647 million) worth of fresh food discounts and aid for the self-employed to ese their burden from high prices, the government said Friday. The measures mark the first phase of the government's gradual rollback of emergency economic re June 26, 2026

SK Telecom to invest 738 billion won in SK hynix's US AI arm SEOUL, June 26 (AJP) - SK Telecom said it will commit about 738.4 billion won ($77.3 million) to SK hynix's new US-based artificial intelligence investment company, deepening the broader SK Group's push to build a foothold across the AI value chain. In a regulatory filing submitted to South Korea's Financial Supervisory Service on Thursday, the country's largest wireless carrier said its board had approved a subscription agreement to acquire new shares in SK hynix NA June 26, 2026

Naver launches AI-powered conversational search for all users SEOUL, June 26 (AJP) - Naver said it had rolled out its generative AI-driven conversational search service "AI Tab" to all users, replacing the familiar green dot icon that has long anchored the search homepage of South Korea's dominant web portal. The launch announced Friday puts the agentic search tool within reach of the roughly 50 million daily visitors to Naver's main page, who can now tap the AI Tab button on both mobile and PC search bars. The firm explai June 26, 2026

Samsung Elec expected to unveil over $600B 10-yr capex plan in Korea SEOUL, June 26 (AJP) -Samsung Electronics, foreseeing over $550 billion in profits across this and next year on an exceptional AI-related chip boom, is expected to pledge over $600 billion in investments to reinforce AI infrastructure in South Korea over the next 10 years. The colossal investment plan — tantamount to nearly half of the country's annual gross domestic product — was outlined during a meeting between President Lee Jae Myung and Samsung Group Chairman Le June 26, 2026

Cheers turn into groans at Gwanghwamun after World Cup defeat SEOUL, June 25 (AJP) -Disbelief, disappointment and frustration filled the air at Gwanghwamun Square in central Seoul, where thousands gathered at the much-loved open space for the make-or-break Group A match against South Africa at the 2026 FIFA World Cup on Thursday morning, Korean time. All 11,000 seats prepared for the official public viewing were filled before 10 a.m., prompting Seoul city officials to block a traffic lane to accommodate the sprawling cheering squad. June 25, 2026

South Korea, Uzbekistan seek deeper cooperation SEOUL, June 25 (AJP) - South Korea's Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol met with his Uzbek counterpart in Seoul to discuss ways to expand bilateral economic cooperation, the ministry said on Thursday. During their meeting the previous day, Koo and Uzbekistan's Minister of Investment, Industry, and Trade Laziz Kudratov agreed to expand cooperation in strategic fields including artificial intelligence, energy and critical mineral supp June 25, 2026

Korean Air to absorb Asiana, launch new carrier Dec. 17 SEOUL, June 25 (AJP) - South Korea’s transport ministry has conditionally approved the merger of Korean Air and Asiana Airlines, clearing the way for the country’s two largest full-service carriers to launch an integrated airline on Dec. 17. The Ministry of Land, Infrastructure and Transport said Thursday it had completed its review of Korean Air’s application to merge with its subsidiary Asiana under the Aviation Business Act. The two airlines signed a merger a June 25, 2026

S. Korea to retain conscription while expanding tech-focused NCO track SEOUL, June 25 (AJP) - A stable career in high-tech military service is the incentive South Korea is dangling to attract young people as it grapples with a shrinking pool of military recruits while facing a persistently hostile North Korea. The outline is to retain the country's decades-old mandatory military service system while giving military-age men greater choice between serving as enlisted conscripts and pursuing a longer-term, technology-focused noncommissioned officer (N June 25, 2026

KOSPI, Nikkei 225 refueled by revived chip fever SEOUL, June 25 (AJP) — The KOSPI moved to the brink of reclaiming the 9,000-point milestone amid a tense market rivalry between the country's two chip heavyweights, while the junior KOSDAQ sank further as bets narrowed on chip infrastructure. The benchmark KOSPI closed up 5.42 percent at 8,930.30 after briefly climbing above the 9,000-point threshold during afternoon trading. Trading was volatile throughout the session. A buy-side sidecar was triggered shortly after t June 25, 2026

Strike looms at Hyundai Motor after mediation fails SEOUL, June 25 (AJP) -The labor union of South Korea's largest automaker, Hyundai Motor Co., secured the legal right to strike on Thursday after labor authorities suspended mediation in the company's wage negotiations, raising another labor risk at a major industrial workplace following Samsung Electronics. According to Hyundai Motor and its union, the National Labor Relations Commission decided to suspend mediation in the dispute, concluding that the gap between labor and June 25, 2026