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

Starbucks Korea card spending drops after 'Tank Day' backlash SEOUL, June 04 (AJP) - Estimated credit and debit card spending at Starbucks Korea fell by more than 10 billion won ($6.53 million) last month from April, data showed, as a marketing controversy weighed on the coffee chain. Estimated card spending at Starbucks reached 121.19 billion won in May, down about 13.1 billion won from 134.32 billion won in April, according to Mobile Index on Thursday. The decline deepened in the latter half of the month. Weekly spending slipped from 32.1 June 4, 2026

Korea Investment & Securities takes 20% of Coinone in crypto deal SEOUL, June 4 (AJP) - Korea Investment & Securities has acquired about 20 percent of cryptocurrency exchange Coinone and formed a joint-shareholder structure with global exchange OKX and Com2uS Holdings, the firm said on Thursday. The move positions the company to become an issuance hub for security tokens ahead of new rules taking effect early next year. The brokerage acquired 159,610 Coinone shares in total, combining 68,894 existing shares held by Com2uS Holdings with 90,7 June 4, 2026

Producer Klozer set to release first full-length album SEOUL, June 4 (AJP) - South Korean producer and artist Klozer is set to release his first full-length album on Thursday, according to distributor Danal Entertainment. The 10-track eponymous album is scheduled to be available on AURORA, Danal Entertainment’s global music distribution platform, as well as other music streaming sites. All songs on the album were written and composed by Klozer. The title track, "More Than Expected," features Babylon and Newaile. The R June 4, 2026

Kia begins production of hybrid version of Sportage SUV at Georgia plant SEOUL, June 4 (AJP) - Kia has begun production of the hybrid version of its Sportage SUV at a plant in Georgia, U.S., marking the first Kia model and first hybrid vehicle in the plant's lineup, the automaker said on Thursday. Kia America and Hyundai Motor Group Metaplant America (HMGMA) held a ceremony at the Ellabell, Georgia, plant on Tuesday to mark the start of production, with the first vehicle produced there brought onto the stage by an autonomous parking robot. The Spo June 4, 2026

WNMC 26: Journalism's AI debate has moved on MARSEILLE, June 4 (AJP) — One theme emerged repeatedly during the 77th World News Media Congress in Marseille: the global news industry has largely moved beyond debating whether artificial intelligence should be used in journalism. The discussion has shifted to a more fundamental question. What role will journalism play when AI increasingly mediates how information is discovered, consumed and distributed? That shift was visible across presentations from publishers, news June 4, 2026

BTS to release limited-edition vinyl in celebration of 13th anniversary of their debut SEOUL, June 4 (AJP) - K-pop juggernaut BTS will release a limited-edition vinyl version of their fifth full-length album "ARIRANG" on June 12, one day before the group marks the 13th anniversary of their debut, BigHit Music said Tuesday. K-pop juggernaut BTS will release a vinyl version of their fifth full-length album "ARIRANG" next week, their agency BigHit Music said on Thursday. The limited-edition album, set for release on June 12, a day before the 13th a June 4, 2026

Eggs hit by buying limits as South Korean retailers ration supply SEOUL, June 04 (AJP) - South Korea's leading hypermarket chains have capped egg purchases at one carton per customer as prices climb on the back of an avian influenza outbreak, with retailers now weighing the sale of imported eggs for the first time. Emart and Lotte Mart are limiting shoppers to a single 30-egg carton of discounted product through June 10, the retail industry said on Thursday. Both chains are selling their trays as premium domestic grade for about 6,000 won per June 4, 2026

Won weakens to lowest level since global financial crisis SEOUL, June 4 (AJP) - South Korea's financial markets suffered a sharp sell-off on Thursday as the won fell to a 17-year low past 1,530 per dollar and sovereign bond yields spiked, driven by heavy foreign capital outflows and a trio of external shocks: escalating Middle East tensions, a hawkish Federal Reserve and a surprise monetary tightening signal from Japan. In Seoul's currency market, the won opened at 1,530 per dollar, down 13.6 won from the previous session's clo June 4, 2026