Asia's currencies wobble again, but this is not another IMF moment SEOUL, June 22 (AJP) - Asia's currencies are flashing warning signs again, stirring uncomfortable memories of the late 1990s, when one collapsing exchange rate after another triggered a regional financial meltdown. This time, however, the story is fundamentally different. From South Korea’s won and Indonesia’s rupiah to the Philippine peso, parts of Asia have come under renewed pressure as Gulf energy disruptions raise inflation risks, U.S. interest rates remain e June 22, 2026

A self-imposed 'Teach You a Lesson' at Starbucks Korea SEOUL, June 22 (AJP) -For three hours on Monday afternoon, South Korea's busiest coffee shops stopped serving lattes and became temporary classrooms. At 3 p.m., Starbucks Korea simultaneously closed more than 2,160 stores nationwide, marking its first nationwide early closure since opening its first Korean outlet near Ewha Womans University in 1999. The unprecedented shutdown and self-imposed business suspension was not caused by a labor strike, a natural disaster June 22, 2026

LG Electronics' micro LED signage wins Best of Show award at InfoComm 2026 SEOUL, June 22 (AJP) - LG Electronics' micro LED signage product, LG MAGNIT, has won a Best of Show award in the installation and digital signage categories at InfoComm 2026, a display industry trade show held in Las Vegas, the company said on Monday. The company presented a range of commercial display solutions at the three-day event, which ran from June 17 under the theme "Solutions Beyond Displays." LG MAGNIT was also named "Most Innovative Digital Signage June 22, 2026

NATO looms over Canada's Korea-Germany submarine choice SEOUL, June 22 (AJP) - Canada's $40 billion submarine procurement is evolving from an industrial contest into a geopolitical choice, with an upcoming NATO summit poised to give Germany an edge over South Korea by elevating alliance politics over delivery speed. South Korea's Hanwha Ocean and Germany's ThyssenKrupp Marine Systems, or TKMS, are entering the final stretch of the race to win a contract to deliver 12 submarines to replace Canada's aging Victoria-class fle June 22, 2026

SK hynix edges out Samsung Elec as No. 1 as KOSPI hits new high SEOUL, June 22 (AJP) - South Korea's Kospi closed at a fresh record on Monday, rising 62.1 points, or 0.7 percent, to 9,114.6, as SK hynix overtook Samsung Electronics in market capitalization on a common-share basis for the first time in 25 years and seven months. The index swung between an intraday low of 8,900.7 and a high of 9,253.0 before settling higher. Retail investors were net buyers of 2.12 trillion won, while institutions bought 330.6 billion won. Foreigners sold 2.54 June 22, 2026

Ex-justice minister sentenced to 25 years in martial law-related case SEOUL, June 22 (AJP) - Former Justice Minister Park Sung-jae was sentenced to 25 years in prison on Monday over his involvement in disgraced former President Yoon Suk Yeol's martial law debacle in 2024. The Seoul Central District Court found Park guilty of carrying out key duties related to Yoon's Dec. 3 martial law declaration. In its verdict, the court harshly criticized Park, saying he had a "grave constitutional duty" as justice minister but chose to side wi June 22, 2026

LG's Koo making quiet strides on Nvidia AI front SEOUL, June 22 (AJP) - A full AI ecosystem from data centers to robotics is what a 30-member Team LG delegation is pitching at Nvidia headquarters in Santa Clara, California, led by Koo Kwang-mo, chairman of South Korea's fourth-largest conglomerate, who recently made headlines as the youngest of Korea's top chaebol chiefs to host an unusually casual samgyeopsal-and-soju dinner with Jensen Huang during the Nvidia chief's visit to Seoul earlier this month. The large-sca June 22, 2026

Seoul steps up monitoring of Strait of Hormuz as US deal with Iran remains fragile SEOUL, June 22 (AJP) - The government is closely monitoring the safety of South Korean ships and crews stuck in the Strait of Hormuz, with 22 vessels still in the area, the Ministry of Foreign Affairs said on Monday. In a press briefing in Seoul on Monday, Foreign Minister Cho Hyun said, "We are working closely with the Ministry of Oceans and Fisheries and overseas missions to monitor conditions in the strait and ensure the safety of South Korean ships and crews." June 22, 2026

Samsung, Lotte vie for CDMO supremacy as K-bio storms BIO USA SEOUL, June 22 (AJP) - South Korean chips are not the only hot-selling commodities in the United States. Biopharmaceutical heavyweights have descended on the Pacific coast city of San Diego, turning the world's largest biotech gathering into a proving ground for the country's fast-expanding contract manufacturing ambitions. The 2026 BIO International Convention, known as BIO USA, runs from Monday through Thursday at the San Diego Convention Center under the theme "Dr June 22, 2026

TWICE's Dahyun wins rising star award for first TV drama role SEOUL, June 22 (AJP) - Dahyun of K-pop girl group TWICE won the Rising Star Award at the Global OTT Awards 2026 for her performance in JTBC's "Love Me," her first television drama, JYP Entertainment said Monday. Dahyun received the award Saturday at the Busan Cinema Center's outdoor theater in Busan, South Korea. The Global OTT Awards recognize streaming platforms, creators and productions across 14 competitive categories and five invitational ca June 22, 2026