Lee arrives in Italy after wrapping up his visit to Belgium SEOUL, June 11 (AJP) - President Lee Jae Myung, who is on a trip to Europe, arrived in Italy on Wednesday after wrapping up his itinerary in Belgium. During the second leg of his two-week trip to Europe, he is scheduled to meet Italian President Sergio Mattarella after a welcoming reception. Lee will also hold separate talks later in the week with Prime Minister Giorgia Meloni, whom he met on the sidelines of the U.N. General Assembly in New York in September last year and again June 11, 2026

SpaceX debut drains capital from South Korea as KOSPI falls for 2nd day SEOUL, June 11 (AJP) - South Korea's benchmark KOSPI opened about 4 percent lower on Thursday, falling for a second straight session as foreign investors pulled money out ahead of SpaceX's record Nasdaq listing slated for Friday. The index dropped 316.2 points to 7,414.6 within minutes of morning trading, pulling further away from the 8,000 level it had only reclaimed days earlier. Investors see the world's largest-ever IPO acting as a magnet for global capital, drawi June 11, 2026

Studies reveal uneven productivity gains and job anxiety from generative AI in S. Korea SEOUL, June 11 (AJP) - Kookmin University International Business School (KIBS)'s Professor Oh Eun-young has published two research papers analyzing the varying impacts of generative artificial intelligence (AI) on industrial productivity and occupational replacement in South Korea, Kookmin University said Wednesday. The studies, published in international academic journals in February and June, examine how the adoption of AI technologies affects different sectors and how the p June 11, 2026

South Korea, EU condemn Russia-North Korea military ties upon new partnership SEOUL, June 11 (AJP) -South Korea and the European Union on Wednesday condemned what they called "Russia-DPRK illegal military cooperation" and unveiled a new strategic partnership on economic security and competitiveness against a backdrop of mounting geopolitical risks straining the global security and economic order amid protracted wars in Ukraine and the Middle East. The 11th EU-Republic of Korea Summit brought together President Lee Jae Myung, Ursula von der Leyen June 11, 2026

Tesla Model Y tops Korea's car market — a first for any import SEOUL, June 10 (AJP) - When Elon Musk posted "Korea is Awesome" on X last month, the comment carried more significance than it appeared. It came after Tesla achieved something no foreign automaker had managed before in South Korea. Tesla's Model Y became the country's best-selling passenger vehicle in May, with 8,762 units sold, surpassing the Kia Sorento's 7,836 units and the Hyundai Grandeur's 5,183 units. It marked the first time an imported vehicle June 10, 2026

Risks remain for South Korea's historic stock market rally, expert warns SEOUL, June 10 (AJP) - South Korea's stock market has seen one of the fastest rallies in modern history, driven initially by major governance reforms that helped boost long-undervalued South Korean stocks. Many economists now say the rally will only last if the country strengthens institutions, encourages greater corporate innovation, and expands its economy beyond semiconductors. Similar remarks were made by Kim Sei-wan, president of the Korea Capital Market Institute during June 10, 2026

Korea's defense of won falls short against foreign capital exodus SEOUL, June 10 (AJP) - South Korean authorities this year have been employing every tool in the playbook to bolster the Korean won, dangerously flirting around post-2008 crisis levels — from a $65 billion FX swap arrangement with the National Pension Service and suspected smoothing operations to a rare joint probe into foreign exchange activities at major banks. But so far, all have proved of little avail. Each measure has offered short-term relief, only to wear off with every June 10, 2026

North Korea's nuclear spending rises as global focus on denuclearization fades SEOUL, June 10 (AJP) - North Korea spent an estimated $656 million on its nuclear weapons program last year, according to a new report that underscores Pyongyang's steady advance toward a larger nuclear arsenal as wars in Ukraine and the Middle East, along with intensifying great-power rivalry, push denuclearization further down the global agenda. The International Campaign to Abolish Nuclear Weapons, or ICAN, said in its latest report that the world's nine nuclear-armed sta June 10, 2026

POSCO Holdings to test direct lithium extraction in US SEOUL, June 10 (AJP) - POSCO Holdings will build and operate a demonstration plant in the United States to extract battery-grade lithium more quickly and efficiently, the South Korean steelmaker said, marking the first such venture abroad by a Korean company. The company announced Wednesday it had agreed with Australian resources developer Anson Resources to construct the direct lithium extraction (DLE) demonstration facility in Green River, Utah, with POSCO overseeing design, const June 10, 2026

Kakao workers stage first-ever strike amid pay disputes SEOUL, June 10 (AJP) - Unionized workers at mobile messaging giant Kakao staged a rally on Wednesday, their first-ever strike since the company's founding in 2006. They gathered in front of their office in Pangyo, Gyeonggi Province at around 10 a.m. before marching for about an hour in a partial strike, chanting slogans demanding job security and management's resignation. They claimed about 1,000 Kakao employees as well as 1,500 workers across its affiliated companies par June 10, 2026