S.Korean savers shift from insurance to ETFs as stock rally lures bank money SEOUL, June 21 (AJP) - A pronounced "money move" is unfolding inside South Korea's banks as savers abandon insurance products in favor of exchange-traded funds (ETFs), drawn by a buoyant stock market that has reshaped where households park their cash. ETF sales at the country's five major commercial banks - KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup - reached 56.73 trillion won ($37.12 billion) in the first months of this year, about 10.8 times the 5.21 trill June 21, 2026

South Korea steps in as Trump pulls back from arming allies SEOUL, June 21 (AJP) - South Korea is fast emerging as a major weapons supplier to the world, seizing an opening created as U.S. President Donald Trump retreats from Washington's traditional security guarantees and presses allies to defend themselves, Politico reported. The paper said that the shift echoes the 1969 Nixon Doctrine, when then-President Richard Nixon told Asian allies to take charge of their own defense and pulled about 20,000 American troops from the peninsula. June 21, 2026

Lee reshuffles Cheong Wa Dae staff, names ex-Yonhap chief as communications adviser SEOUL, June 21 (AJP) - South Korean President Lee Jae Myung on Sunday named Seong Ghi-hong, a former chief executive of Yonhap News Agency, as his senior secretary for public communications, part of a reshuffle of his top Blue House aides at the start of his administration's second year. Han Chan-sik, a former attorney at the law firm Kim & Chang, was appointed senior secretary for civil affairs, while Kim Kyung-ja, an adjunct professor at Woosuk University and a former sen June 21, 2026

Korean won hits weakest June level since 1998 crisis SEOUL, June 21 (AJP) - The South Korean won has averaged more than 1,520 per dollar so far in June, its weakest monthly level since the Asian financial crisis nearly three decades ago, as a firmer dollar and persistent foreign equity outflows weighed on the currency. The won averaged 1,521 per dollar through June 19, based on weekly closing prices at 3:30 p.m., according to the Bank of Korea's Economic Statistics System. That marks the highest monthly average since February 1 June 21, 2026

S.Korea's hypermarkets shed market share as e-commerce, discounters bite SEOUL, June 21 (AJP) - South Korea's hypermarket chains have absorbed the heaviest blow among offline retailers from the rise of e-commerce, with their share of total retail sales sliding to a record low as shoppers migrate online and to deep-discount stores. The country's three big-box operators — E-mart, Lotte Mart and Homeplus — accounted for 7.9 percent of total retail revenue as of April this year, the lowest share on record, according to data from the Minis June 21, 2026

National Museum names RM as global ambassador SEOUL, June 20 (AJP) -The National Museum of Korea appointed BTS leader RM as its first global ambassador on Saturday to promote South Korean cultural heritage to an international audience. The appointment comes as South Korea aggressively leverages its global pop culture dominance to convert commercial entertainment fandom into institutional high-art diplomacy. The decision aligns with an unprecedented surge in international interest that has propelled the Seoul-based instituti June 20, 2026

Trump pressures Iran to complete peace deal SEOUL, June 20 (AJP) - United States President Donald Trump has issued a stark ultimatum to Tehran, warning that Washington could resume military actions if a final agreement is not reached within a strict 60-day window. Speaking at Joint Base Andrews on Friday (local time), Trump pressured Iran to solidify a recent memorandum of understanding into a permanent treaty or face severe consequences. The remarks signal a high-stakes push by Washington to conclude denuclearization talks fo June 20, 2026

Montenegro seeks to adopt Kazakh digital governance model SEOUL, June 20 (AJP) - Montenegrin President Jakov Milatovic met with Kazakh President Kassym-Jomart Tokayev in Astana on June 19 to discuss adopting the digital transformation technologies of Kazakhstan to modernize his country's public administration. According to the Kazakhstan Ministry of Foreign Affairs, the talks mark a significant shift in international diplomacy as European nations increasingly seek administrative blueprints from emerging technological hubs outside the We June 20, 2026

Drawing the hairline: Korea debates insuring hair loss  SEOUL, June 19 (AJP) -Going bald is personal matter, except in South Korea. It is quickly turning into a political and social hot potato. The South Korean government is weighing whether to extend National Health Insurance coverage to androgenetic alopecia, the common hereditary form of hair loss often associated locally with M-shaped hairlines. What had been thought as one of the most extreme populist campaign promises from liberal candidate Lee Jae Myung in his first preside June 19, 2026

KOSPI gives up record rally as profit-taking, Gulf jitters cool momentum SEOUL, June 19 (AJP) — South Korea's benchmark KOSPI surrendered a record-breaking rally Friday, retreating sharply from an all-time high above 9,300 as investors rushed to lock in profits after one of the fastest market surges in the country's history. The KOSPI closed down 0.13 percent at 9,052.42 after soaring nearly 3 percent earlier in the session and briefly crossing the 9,300 threshold for the first time ever. The benchmark later reversed course, falling as June 19, 2026