More areas in Gyeonggi Province placed under property curbs amid surging prices SEOUL, June 30 (AJP) - Three additional areas in Gyeonggi Province have been designated as "speculative zones" in an effort to curb overheated demand in parts of the Seoul metropolitan region, where housing prices have recently skyrocketed, the Ministry of Land, Infrastructure and Transport said on Tuesday. According to the ministry, Dongtan in Hwaseong, Giheung in Yongin, and Guri have been newly added to such zones, under which loans for buying homes there are limited, w June 30, 2026

Europe's sweltering heatwave signals climate extremes in Asia and elsewhere SEOUL, June 30 (AJP) - Europe is in the grip of another sweltering heatwave. Across the continent, from Denmark and Germany to Switzerland and France, temperatures have surged to record or near-record levels. At least 94 million people across Europe have been exposed to extreme heat of 35 degrees Celsius or higher, while more than 350 million people, roughly two-thirds of the continent's population, are living in areas where temperatures have exceeded 30 degrees Celsius, accordi June 30, 2026

Kazakhstan and Georgia seal strategic Eurasian partnership SEOUL, June 30 (AJP) - Kazakhstan and Georgia signed a strategic partnership in Astana on Monday (local time), tying together a trade route and an oil pipeline that have taken on new weight as Russia's war in Ukraine closes off traditional routes and the war in Iran chokes the Strait of Hormuz. Kazakh President Kassym-Jomart Tokayev and Georgian Prime Minister Irakli Kobakhidze signed a Joint Statement along with memoranda on culture, tourism, and digital development, accordin June 30, 2026

FSS holds brokerage financially liable for wrap account losses SEOUL, June 30 (AJP) -South Korea's financial regulator has for the first time ruled that a brokerage must compensate investors for losses caused by improper discretionary asset management, setting a precedent that securities firms can be held financially liable for mishandling client assets. The Financial Supervisory Service's Dispute Mediation Committee said Tuesday it ordered investors to be reimbursed for 60 percent to 70 percent of losses stemming from the management of June 30, 2026

Korea sees sharpest rise in zombie firms among major economies SEOUL, June 30 (AJP) -Despite the benchmark KOSPI's spectacular run, South Korea saw the largest increase in the share of zombie companies among major economies between 2017 and 2025, with more than one in four listed firms unable to cover interest expenses with their earnings for three consecutive years, the country's largest business lobby said Tuesday. The Federation of Korean Industries said marginal companies accounted for 27.6 percent of Korea's listed firms in 20 June 30, 2026

Korea lowers oil crisis alert as supplies stabilize after ceasefire SEOUL, June 30 (AJP) - South Korea's government downgraded its resource security crisis alert for crude oil from "caution" to "watch," the second-lowest of four tiers, citing the U.S.-Iran ceasefire and a steady recovery in energy supplies. The "caution" alert for natural gas was lifted entirely. Vice Industry Minister Moon Shin-hak reported the energy supply plan at a Cabinet meeting doubling as an emergency economic response session at the pres June 30, 2026

Chipflation fears cool Korea's chip output SEOUL, June 30 (AJP) - South Korea's sharp pullback in chip output in May is adding to signs that the global memory crunch is no longer confined to data centers, with chipflation from soaring memory prices beginning to strain consumer spending and factory floors. Factory output fell 3.0 percent from the previous month in May, matching its steepest monthly drop in a year, according to the Ministry of Data and Statistics on Tuesday. The index of all-industry production, exclu June 30, 2026

Jeju Air carries over 1 million foreign passengers in first five months of this year SEOUL, June 30 (AJP) - Low-cost carrier Jeju Air carried more than 1 million foreign passengers during the first five months of this year, driven by demand from Japanese and Chinese travelers amid growing interest in K-pop and Korean culture. The budget carrier said that out of about 3.59 million passengers on international routes from January to May, about 1.06 million or 29.5 percent were foreigners, up 23 percent from about 860,000 a year earlier. Japanese passengers were th June 30, 2026

Korea Tourism Organization taps influencers to promote regional food tourism SEOUL, June 30 (AJP) - The Korea Tourism Organization has launched a regional food tourism campaign with 33 overseas influencers as South Korea seeks to turn growing interest in Korean food into travel beyond Seoul. The state tourism agency, led by President Park Sung-hyuk, held a launch event for "K-Local Food Hunters 33" at Samcheonggak in Seoul on Monday. Through Thursday, the program will send participants to different regions to taste, film and share local dishes wi June 30, 2026

Korea unveils five-year plan to promote crafts as K-culture industry SEOUL, June 30 (AJP) - South Korea will seek to make traditional crafts a larger part of its cultural exports and tourism industry under a new five-year government plan announced Tuesday. The Ministry of Culture, Sports and Tourism released its second basic plan for promoting the craft culture industry, covering 2026 to 2030. The plan is built around four areas: production, distribution, public access and policy infrastructure, with the government aiming to raise the industry's June 30, 2026