Y-Biologics expands employee share ownership after KOSDAQ listing SEOUL, August 31 (AJP) - South Korean antibody drug developer Y-Biologics has completed its third employee share purchase since its KOSDAQ listing, bringing the shareholding ratio among employees to about 65 percent of its workforce. The company said Monday that employees bought shares on the open market this month through its Employee Stock Ownership Association (ESOA), which enables employees to acquire and hold shares in their employer. The latest round follows two previous purch August 31, 2026

Rate-hike fears drag KOSPI, Nikkei down 2% SEOUL, August 31 (AJP) - Korean stocks opened sharply lower Monday as a hawkish turn by Federal Reserve Chairman Kevin Warsh knocked the chip trade that has carried the market all year. The KOSPI, the main index in Seoul, was down 2.0 percent in early trading. The index shed 138.63 points to 6,650.25. Tokyo took the same blow. The Nikkei 225 was down 1,375.83 points at 65,029.73. The fall of about 2.1 percent left the region's two big chip-exposed markets moving together. August 31, 2026

'The Odyssey' reigns as Korea's biggest foreign box-office hit for 2026 SEOUL, August 31 (AJP) - Acclaimed filmmaker Christopher Nolan's epic saga, "The Odyssey" has become the highest-grossing foreign film released in South Korea so far this year. According to tickets sales data released by the Korean Film Council on Monday, "The Odyssey," which drew more than 8 million moviegoers in less than a month since its release on Aug. 5, has now surpassed the Hollywood franchise film "Spider-Man: Brand New Day," which opened a August 31, 2026

Business groups welcome Lee So-young as nominee for SME minister SEOUL, August 30 (AJP) - South Korean business and women's entrepreneur groups welcomed the nomination of Lee So-young, a two-term lawmaker of the ruling Democratic Party, as minister of SMEs and startups, urging her to deliver tangible support and fresh momentum to a sector that accounts for the bulk of the country's jobs. The nomination fills a post left vacant for about two months after former minister Han Sung-sook was tapped as prime minister. A lawyer by tra August 30, 2026

Chinese robotaxis to hit Seoul roads by 2028 under Pony.ai deal SEOUL, August 30 (AJP) - South Korean autonomous driving firm FutureLink has signed a strategic cooperation agreement with China's Pony.ai to bring 200 robotaxis onto the country's roads, aiming to launch a commercial driverless service in Seoul by around 2028. FutureLink announced the deal on Sunday, saying the two companies sealed it two days earlier at the Conrad Seoul hotel in Yeouido, the capital's main financial district. Pony.ai co-founder and Chief Executive Jame August 30, 2026

Shin warns Korea's financial risks nearing crisis threshold SEOUL, August 30 (AJP) - South Korea's central bank chief warned that the country's financial vulnerabilities are climbing at a dangerously steep pace, driven by surging home prices and household debt, and cautioned that the window for preemptive action is closing fast. Shin Hyun-song, governor of the Bank of Korea, delivered the warning on Aug. 28 on the sidelines of the annual Jackson Hole Economic Policy Symposium in Wyoming, where U.S. Federal Reserve Chair Kevin Warsh u August 30, 2026

(Update) Lee reshuffles cabinet, names new finance and justice ministers SEOUL, August 30 (AJP) - South Korean President Lee Jae Myung nominated a new finance minister and five other cabinet members on Sunday, in a second-year reshuffle that also replaced the ministers of justice and defense. Lee named Lee Hyoung-il, the first vice finance minister, to succeed Deputy Prime Minister and Finance Minister Koo Yun-cheol, presidential chief of staff Kang Hoon-sik told a briefing. Democratic Party lawmaker Kim Seung-won was tapped as justice minister. Th August 30, 2026

Retail investors flee sliding Seoul market for Wall Street SEOUL, August 30 (AJP) - South Korean retail investors' net buying of U.S. equities outpaced their purchases on the domestic main board in the first two months of the second half, as a slump in Seoul shares drove capital abroad. Net purchases of U.S. stocks by individual investors reached $7.05 billion between July 1 and Aug. 27, according to the Korea Securities Depository, exceeding the 8.75 trillion won ($6.35 billion) they bought on the benchmark KOSPI over roughly the same August 30, 2026

Korea's convenience stores sharpen food rivalry SEOUL, August 30 (AJP) - South Korea's three biggest convenience store chains are sharpening their food rivalry, rolling out products tuned to increasingly granular consumer tastes as shoppers weigh texture, drink preferences and health alongside the traditional draws of price and convenience. GS25, E-mart24 and 7-Eleven are each leaning on sales data to expand categories where demand has already proven itself, from chewy frozen treats to cafe-style tea drinks and seasonal rice August 30, 2026

BTS' 'Arirang' tour sets record as highest-grossing concert run SEOUL, August 29 (AJP) - K-pop juggernaut BTS raked in US$120.5 million in ticket sales in July through their ongoing world tour "Arirang," making it the group's highest-grossing tour, Billboard said on Friday. BTS ranked second on Billboard's July tour chart, behind The Weeknd, who topped the chart with $124.4 million. The group earned nearly as much as The Weeknd despite performing half as many shows, with eight shows in Europe, compared with The Weeknd's 16. August 29, 2026