KOSPI opens sharply lower after Wall Street chip sell-off, prompting sidecar halt SEOUL, June 5 (AJP) - South Korean stocks plunged in early trading on Friday, prompting a temporary halt on program sell orders as investors dumped semiconductor shares following an overnight sell-off in U.S. chipmakers. Just 30 minutes into Friday's trading session, the benchmark KOSPI was down 5.65 percent at 8,151.63, while the junior KOSDAQ shed 3.67 percent to 1,011.25. According to the Korea Exchange, a sell-side sidecar was activated at 9:08:25 a.m. after a sharp dec June 5, 2026

Samyang's Buldak tops 10 billion units, unveils new mascot Peppo SEOUL, June 05 (AJP) - South Korea's Samyang Foods announced that cumulative sales of its Buldak instant noodle brand had surpassed 10 billion units, a milestone the company is marking by rolling out a next-generation character, Peppo, to anchor an aggressive push into licensing and digital content. The fiery brand, which turns 14 this year, crossed the threshold at the end of May after generating about 7 trillion won ($4.54 billion) in cumulative revenue, the company said Frida June 5, 2026

New voting culture takes shape among younger voters SEOUL, June 4 (AJP) - Voters turned out in record numbers for Wednesday's local elections, with final turnout reaching 61 percent, up 9.8 percentage points from 50.9 percent in the 2022 local elections. Early voting also hit a record high at 23.51 percent, up 2.89 percentage points from the previous local elections. But that tells only part of the story. At polling stations across the country, people did not just show up alone, as friends, couples June 4, 2026

Turkish foreign minister urges S. Korea partnership to stabilize global governance SEOUL, June 04 (AJP) - South Korea and Türkiye must leverage their diplomatic influence to address a deepening crisis in global governance and stabilize a fragmented international order, Turkish Foreign Minister Hakan Fidan said Thursday. Speaking at the 143rd International Policy Forum at Korea University in Seoul, Hakan Fidan warned that the current international system is unsustainable and requires coordinated intervention by capable middle powers. The diplomat highlighted June 4, 2026

Seoul's progressive education chief wins second term SEOUL, June 4 (AJP) - Jung Keun-sik won a second term as Seoul's education chief in the June 3 local elections, extending progressive control over the capital's education office. His victory gives progressive education leaders four more years in Seoul, South Korea's education hub. It is also expected to add momentum to their key policies, including absolute grading for the college entrance exam and school records. As of 4:40 p.m. Thursday, with 99.92 percent of ballot June 4, 2026

Hawkish signals fail to curb won's slide SEOUL, June 4 (AJP) - Although the Bank of Korea (BOK) has effectively pivoted back toward monetary tightening, the won-dollar exchange rate is instead plunging to its weakest level since the global financial crisis. Downward pressure on the Korean won is intensifying as investors question how much domestic monetary policy can do on its own. A stronger greenback, surging oil prices and synchronized tightening fears among major central banks are adding to the strain. In the Seoul June 4, 2026

Homeplus to permanently close 37 suspended stores, putting 3,500 jobs at risk SEOUL, June 04 (AJP) - Homeplus, South Korea's second-largest hypermarket chain, will permanently shut 37 stores it had temporarily closed last month, a move that threatens the jobs of about 3,500 workers, the company told its labour unions. According to industry sources on Thursday, the retailer sent a a notice to the Korea Mart Labor Union's Homeplus branch and a separate general union that it had decided to close the stores, which had been suspended since May 10 due to th June 4, 2026

Voter turnout for local elections hits 61% SEOUL, June 04 (AJP) - Voter turnout in Wednesday's local elections reached 61 percent, the National Election Commission (NEC) said Thursday. It marked a sharp increase from 50.9 percent in the previous local elections in 2022 and was the highest turnout in any local elections since 1995, when it reached a record 68.4 percent. A total of 27.25 million voters cast ballots out of 44.65 million eligible voters including those who participated in two-day early voting last week an June 4, 2026

KOSPI slides as won weakens sharply SEOUL, June 4 (AJP) - SSouth Korea's benchmark KOSPI fell nearly 2 percent to close at 8,639.41 points on Thursday as markets reopened after Wednesday's elections, pressured by escalating tensions in the Middle East. Adding to the pressure, the Korean won also weakened sharply against the U.S. dollar. But beneath the decline, the session looked less like a broad sell-off than a wholesale rotation in market drivers, as crowded artificial intelligence stocks that had driven th June 4, 2026

Explosion at Hanwha Aerospace plant casts doubt on planned satellite launch SEOUL, June 4 (AJP) - The planned launch of a satellite-carrying solid-fuel rocket off Jeju remains uncertain following an explosion at Hanwha Aerospace's plant in Daejeon that left seven people dead or injured. The Ministry of Employment and Labor raided Hanwha Aerospace’s headquarters in Seoul and its Daejeon plant on Thursday in connection with the fatal explosion. The Ministry of Employment and Labor raided Hanwha Aerospace's headquarters in Seoul and its Daejeo June 4, 2026