Korean won emerges as winner in U.S. "prosper-thy-neighbor" yen defense SEOUL, August 05 (AJP) - Currency intervention has long been viewed as a classic beggar-thy-neighbor policy, with governments weakening their currencies at the expense of trading partners. The latest U.S.-Japan operation appears to be doing the opposite, giving the South Korean won an unexpected tailwind alongside the yen. That raises an obvious question: Has Washington suddenly become more generous? Why would an administration that has championed "America First" intervene August 5, 2026

Won, Korean bonds rally as Middle East tensions ease SEOUL, August 05 (AJP) - South Korea’s won and government bonds rallied on Wednesday as optimism over a potential U.S.-Iran agreement pushed oil prices lower, easing inflation concerns and drawing investors back into local assets. The won closed the daytime session at 1,424.5 won to the dollar, strengthening by 8.0 won, or 0.56 percent, from Tuesday’s close of 1,432.5. The three-year Korean government bond yield fell 7.1 basis points to 3.669 percent, while the 10-y August 5, 2026

KOSPI rebounds above 6,500 as foreign investors return amid global chip rally SEOUL, August 5 (AJP) - South Korean stocks extended their rally on Wednesday, with the benchmark KOSPI climbing back above 6,500 as foreign investors returned to the market as net buyers. The rally was further supported by strength in global semiconductor shares and easing Middle East tensions. The KOSPI closed 3.76 percent higher at 6,598.26 after rising as much as 6,674.66 intraday. The surge triggered a buy-side sidecar early in the session, while the junior KOSDAQ gained 2.42 p August 5, 2026

Seoul's heatwave sparks highest alert People enjoy the water at the Gwangnaru Hangang Park swimming pool in Seoul on Aug. 5, 2026. Seoul issued its highest-level extreme heat warning across the entire city amid sweltering temperatures. August 5, 2026

Gwangnaru pool offers respite from heat People enjoy the water at the Gwangnaru Hangang Park swimming pool in Seoul on Aug. 5, 2026. Seoul issued its highest-level extreme heat warning across the entire city amid sweltering temperatures. August 5, 2026

Seoul plans fall push despite North Korea silence SEOUL, August 05 (AJP) - South Korea will spend the fall looking for a way to talk to North Korea and does not expect to get one, Foreign Minister Cho Hyun said Wednesday, hours after the president told the officials who run the policy that the work will feel like shouting and hearing no echo. Asked whether the two governments might meet face to face at the United Nations General Assembly in September, Cho said the chance remains uncertain and that the North's conduct points o August 5, 2026

Gold investment loses steam as investor sentiment cools SEOUL, August 5 (AJP) - Interest in gold investment in South Korea is rapidly losing steam after a record-breaking run that continued until earlier this year, with trading volume and value on the Korea Exchange (KRX) gold market falling to their lowest levels in recent months. According to data released by the Korea Exchange on Wednesday, the average daily trading volume of KRX gold spot products stood at 218,708 grams in July, down 51.6 percent from 451,831 grams in June. Average August 5, 2026

Seoul aims to make public education free from age 3 to university SEOUL, August 05 (AJP) -South Korea will extend free preschool to all three-year-olds from next year and may introduce full scholarships for students at regional national universities, widening state-funded education from early childhood to higher education. The measures form part of the Education Ministry's policy roadmap for the second half of 2026, reported to President Lee Jae Myung on Wednesday, as the government seeks to build what it calls a "basic education societ August 5, 2026

Exclusive: Why a midsized Busan shipper is taking on Korea's first Arctic voyage SEOUL, August 05 (AJP) - A midsized carrier from Busan is venturing through Russian Arctic waters in what would be South Korea's maiden container voyage along the Northern Sea Route after bigger shipping lines bowed out over sanctions risks and resistance from environmentally conscious global cargo owners. PanStar Group is keeping to its target of departing Busan for Rotterdam around Aug. 22, a source at the shipping and logistics group told AJP. "There has been no chang August 5, 2026

More South Koreans in their 50s to 70s want to remain in workforce SEOUL, August 5 (AJP) - The number of South Koreans in their mid-50s to late 70s surpassed 17 million as of May, with nearly seven in 10 saying they want to continue working, according to a report released by the Ministry of Data and Statistics on Wednesday. The report found that the number of people aged 55-79 reached 17.02 million in May, up 570,000 from a year earlier, making up 37 percent of the population aged 15 and older, which totaled 45.98 million. About 60.9 percent o August 5, 2026