Kakao union to halt work for a day as wage talks stall SEOUL, June 26 (AJP) - Kakao's labor union will press ahead with a one-day "log-off day" on June 29, halting work across the South Korean tech giant's affiliates after negotiations with management failed to yield a wage and collective bargaining agreement. Members at five entities — Kakao, Kakao Pay, Kakao Enterprise, DK Techin and XL Games — will use annual leave or paid days off to step away from their duties for the day and log out of company work sy June 26, 2026

Korea, Asia sink on Apple price shock SEOUL, June 26 (AJP) - Korea's KOSPI fell 5.8 percent Thursday as Apple's overnight price hikes on Macs and iPads and a report that OpenAI may delay its IPO until 2027 sent a second wave of selling through Asian technology stocks, with memory chipmakers in Seoul, semiconductor equipment names in Tokyo, and AI-linked equities in Shanghai all closing sharply lower. The KOSPI shed 519.09 points to close at 8,411.21. SK hynix led the decline, falling 8.4 percent, while Samsung E June 26, 2026

Chipflation after Gulf-flation may keep prices sticky SEOUL, June 26 (AJP) -The KOSPI ended Friday at 8,411.21, nearly 8 percent below the 9,000 milestone it celebrated just a week earlier. Friday's rout — the second intraday plunge of more than 8 percent this week — cannot be dismissed simply as a long-overdue correction. The Gulf war inflation scare is fading. Oil has retreated toward pre-war levels and the immediate fear of an energy shock has eased. Yet investors are beginning to confront a second, potentially mor June 26, 2026

Korean researchers measure tree carbon with LiDAR SEOUL, June 26 (AJP) - A ground-based laser scanner can now map the full three-dimensional structure of a tree precisely enough to calculate how much carbon it stores, without cutting, drilling, or attaching anything to the tree. That is the finding of a joint study by Kookmin University and the National Sejong Arboretum, published in the Journal of the Korean Cadastre Information Society in April 2026. The technology relies on LiDAR (Light Detection and Ranging), a remote sensing June 26, 2026

South Korea to launch CIA-style fund for security startups SEOUL, June 26 (AJP) - South Korea will set up a government-backed venture fund modelled on the U.S. Central Intelligence Agency's In-Q-Tel (IQT) to nurture companies in emerging security technologies, pledging 50 billion won ($32.3 million) by next year. The Ministry of SMEs and Startups unveiled the plan on Friday, dubbed a "Korean IQT," at a strategy meeting on fostering future security innovators held at the presidential office. The vehicle will invest directly in June 26, 2026

Foreign-currency deposits rise for 2nd consecutive month in May SEOUL, June 26 (AJP) - Foreign-currency deposits held by South Korean residents rose for a second straight month in May, led by an increase in dollar deposits, according to data released by the Bank of Korea on Friday. The total amount of outstanding foreign-currency deposits at domestic banks stood at US$112.25 billion as of the end of May, up $1.57 billion from a month earlier, continuing its upward streak after rebounding the previous month following several months of decline. June 26, 2026

This week's second circuit breaker triggered after 8% fall in KOSPI SEOUL, June 26 (AJP) -The second circuit breaker this week halted the KOSPI after the benchmark crashed more than 8 percent Friday, following a similar rout three trading on Tuesday, on heavy foreign and institutional selling over concerns of slowing memory demand amid broad chip-flation. The Korea Exchange suspended trading on the KOSPI market for 20 minutes at 12:10:12 p.m. after the benchmark remained more than 8 percent below the previous session's close for one minute. June 26, 2026

Samsung SDS employees asked to replace cash bonuses with treasury stock SEOUL, June 26 (AJP) — Samsung SDS is seeking employee approval to replace cash performance bonuses with company stock after a landmark Supreme Court ruling recognized such bonuses as wages. According to multiple industry sources on Friday, the company has begun a vote on a proposal to abolish its current cash incentive program and instead award annual performance bonuses entirely in the form of Samsung SDS shares. The vote is scheduled to close on June 29. The proposal June 26, 2026

Seoul plans K-LUCAS deployment in broader military drone overhaul SEOUL, June 26 (AJP) - South Korea will pursue the deployment of a domestically developed long-range one-way attack drone, the Defense Ministry said Friday, as it seeks to rapidly expand its unmanned combat capabilities. The system, named K-LUCAS — short for K-Low-cost Uncrewed Combat Attack System — is a key part of a new drone and counter-drone development policy drawn up in response to lessons from the wars in Ukraine and the Middle East. “Every service membe June 26, 2026

Government rolls out record agricultural discounts to tame summer food prices SEOUL, June 26 (AJP) - South Korea will pour 350 billion won ($226 million) into an unprecedented discount campaign covering every eligible agricultural, livestock and fisheries product this summer, in its most aggressive bid yet to ease a stubborn cost-of-living squeeze. The measures, unveiled at a meeting chaired by Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol on Friday, form part of a wider 1 trillion won package aimed at keeping second-half inflation b June 26, 2026