Korean won, bonds rally on U.S.-Iran framework SEOUL, June 15 (AJP) - The South Korean won and government bonds strengthened Monday on signs of foreign return after a de facto resolution to the monthslong Iran crisis. The won closed at 1,511.1 per dollar in the Seoul foreign exchange market, down 8.7 won from the previous session. South Korean government bonds extended last week's rally. The yield on the three-year government bond fell 6.4 basis points to 3.744 percent, while the 10-year yield dropped 7.7 basis points to June 15, 2026

Labor groups demand 12,000 won for next year's minimum wage SEOUL, June 15 (AJP) - Labor groups on Monday demanded that next year's minimum wage be raised to 12,000 won (about US$8), up 13.3 percent or 1,680 won from this year's 10,320 won per hour. In a joint press conference in Seoul, workers from the Federation of Korean Trade Unions (FKTU) and the Korean Confederation of Trade Unions (KCTU) made the demand, arguing that wages have lagged behind inflation over the past three years. They pointed out that the average minimum wa June 15, 2026

KOSPI and Nikkei up 5% as U.S.-Iran deal eases energy fears SEOUL, June 15 (AJP) - South Korean and Japanese markets roared Monday, gaining 5 percent on a preliminary U.S.-Iran peace deal snapped fears of a prolonged energy shock and triggered a broad risk-on rally across the region. The KOSPI jumped 422.36 points to close at 8,545.98. The index rose as high as 8,603.48 during the session after opening sharply higher, while its intraday low was 8,450.24. Foreign and institutional investors led the rally. Foreigners bought a net 985.9 b June 15, 2026

SK's Chey, ex-wife Roh fail to reach settlement in billion-dollar divorce battle SEOUL, June 15 (AJP) - SK Group Chairman Chey Tae-won and his estranged wife Roh Soh-yeong failed to reach a settlement Monday in their closely watched billion-dollar divorce dispute, facing each other in court for the first time in more than two years. The Seoul High Court's family division held a second court-led mediation session at 2 p.m. as part of the remand trial ordered by the Supreme Court. Despite expectations that both sides would begin substantive discussions on th June 15, 2026

Washington extends tech controls from chips to AI models SEOUL, June 15 (AJP) - A U.S. government order forcing Anthropic to block foreign access to its newest AI models is raising fears that Washington is opening a new front in the global technology race, extending export controls beyond semiconductors and into the AI models themselves. Anthropic said late Friday it had suspended access to its newest models, Fable 5 and Mythos 5, after receiving a U.S. government order barring access by foreign nationals on national security grounds. The June 15, 2026

South Korea's national museum forges partnership with Italy's Uffizi Gallery SEOUL, June 15 (AJP) - To spread the value of their cultural heritage and increase mutual understanding, the National Museum of Korea and Italy's Uffizi Gallery have signed an agreement to exchange exhibitions and staff, Korea's iconic museum said Sunday. According to the National Museum of Korea's statement, its Director Yoo Hong-jun and Uffizi Gallery's Director Simone Verde signed the agreement in Florence, Italy, on Saturday. The two museums will work together June 15, 2026

Devices with large lithium batteries to be banned on KTX and subway trains SEOUL, June 15 (AJP) - Starting next month, passengers will be barred from bringing devices equipped with large-capacity lithium batteries onto KTX bullet trains and subways, railway operator Korail said on Monday. To improve passenger safety amid fire risks, lithium-battery-powered items such as electric kickboards, electric bicycles and other personal devices will be restricted from being brought onto trains or entering railway stations. Also included are portable high-capacit June 15, 2026

South Korean researchers technique to transfer nano circuits using water SEOUL, June 15 (AJP) - Researchers in South Korea have developed a technique to transfer microscopic electronic circuits onto delicate surfaces by floating metal components on water. This opens new possibilities for wearable devices and biological sensors, the Korea Advanced Institute of Science and Technology said Monday. The technique, called water-floated nanotransfer printing, removes the need for heat, pressure, toxic chemical solvents, or adhesives. This allows the circuits June 15, 2026

Jeju Air keeps lead among budget carriers SEOUL, June 15 (AJP) - Low-cost carrier Jeju Air carried more than 1 million passengers in May, maintaining its lead among budget carriers in South Korea, according to data released by the Ministry of Land, Infrastructure and Transport released on Monday. It carried 1.11 million passengers in May, up 7.6 percent from 1.03 million a year earlier, as demand rose around long weekends in early and late May including Children's Day and Buddha's Birthday, while short-haul intern June 15, 2026

U.S.-Iran war nears formal end with June 19 signing SEOUL, June 15 (AJP) - The United States and Iran reached an agreement on Sunday to sign a peace deal on Friday aimed at ending a monthslong war that has killed thousands and rattled the global economy. "The Deal with the Islamic Republic of Iran is now complete," President Donald Trump said in a social media post. Iran's Supreme National Security Council also confirmed in a statement that Tehran had finalized a memorandum of understanding with Washington. Below is a timeline June 15, 2026