US-Japan yen rescue puts 1,400 won back in play, bonds shrug SEOUL, August 03 (AJP) - The blunt yen-defense campaign jointly mounted by Washington and Tokyo has fundamentally shifted the outlook for the Korean won, putting the psychologically important 1,400-per-dollar level back within reach after the currency spent much of the first half trading around 1,500. The same intervention, however, has offered little relief to Korea's sovereign bond market, where heavy government issuance and a hawkish Bank of Korea continue to outweigh improving August 3, 2026

Yeongdeungpo District Faces Scorching Heat Heat haze shimmers above a road near a bus transfer center in Yeongdeungpo District, Seoul, as heat wave warnings were issued across most parts of South Korea on Aug. 3, 2026. The daytime high in Seoul soared to 37 degrees Celsius. August 3, 2026

Nearly 20,000 firms became 1st-time exporters last year, highest in 5 years SEOUL, August 3 (AJP) - Nearly 20,000 South Korean companies exported goods for the first time last year, the highest number in five years, according to data released by the Korea Customs Service (KCS) on Monday. The number of first-time exporters with no export record in the previous three years rose 3.7 percent from a year earlier to 19,746 in 2025, while their combined exports increased 13.2 percent to US$6.9 billion, the highest level since 2019. By product, machinery and com August 3, 2026

Seoul weighs flexible leverage ratios as ETF turmoil prompts broader reforms SEOUL, August 03 (AJP) — South Korea is preparing legislation that would give regulators the authority to lower leverage ratios on single-stock leveraged exchange-traded funds (ETFs) during market turmoil. According to financial authorities on Sunday, the Financial Services Commission (FSC) is drafting amendments to the Financial Investment Services and Capital Markets Act, the country's primary law governing capital markets and investment products, to establish a legal ba August 3, 2026

Shift Up defends AI-made music video after gamer backlash SEOUL, August 03 (AJP) - South Korean game developer Shift Up has defended a promotional music video created with generative artificial intelligence after players in Korea and abroad criticized its use of the technology and the quality of the finished product. The studio on July 31 released the song "Wanna be in LOVE" and an accompanying music video on social media, previewing a soundtrack for its forthcoming title "Stellar Blade: Blood Rain." The clip shows t August 3, 2026

Hollywood stars indulge in Seoul's charms ahead of  'The Odyssey' release SEOUL, August 3 (AJP) - The cast and crew of Hollywood's upcoming epic saga "The Odyssey" on Monday shared their experiences of spending time here after arriving in Seoul over the weekend. Director Christopher Nolan, his wife and producer Emma Thomas, actor Matt Damon, and actress Charlize Theron attended a press conference for the action fantasy film at the Four Seasons Hotel in central Seoul, where they shared their experiences exploring the capital after arriving August 3, 2026

Hyundai Steel's Q2 profit slides 43% on year despite quarterly rebound SEOUL, August 03 (AJP) - Hyundai Steel, South Korea's second-largest steelmaker, revealed that its second-quarter operating profit tumbled about 43 percent from a year earlier. According to regulatory filings released Monday, the steelmaker posted an operating profit of 57.7 billion won ($40.3 million) for the three months ended June, down 43.3 percent from a year earlier. Net profit came in at 12.1 billion won, while revenue edged up 2.7 percent on year to 6.11 trillion won. August 3, 2026

Former Trump aide says AI can redefine Korea-U.S. alliance SEOUL, August 03 (AJP) - South Korea's AI ambitions align with Washington's push to redefine the alliance beyond traditional security, as the two countries seek deeper cooperation in artificial intelligence, advanced manufacturing and economic security, a former White House national security official under President Donald Trump said Monday. "Economic security is national security," Alexander B. Gray told a National Assembly forum in Seoul. "South Korea' August 3, 2026

Lee maps Korea's AI supply chain from Silicon Valley to Latin America SEOUL, August 03 (AJP) - President Lee Jae Myung returned to Seoul on Monday from an 11-day trip that broadened South Korea's AI supply chain map to Latin America, securing commitments on rare earths, copper, lithium and crude oil needed to underpin the country's ambition of becoming an artificial intelligence powerhouse. The tour effectively connected both ends of the AI ecosystem. In San Francisco, Lee sought partnerships with Nvidia, Broadcom, OpenAI and Anthropic to stre August 3, 2026

Hyundai, Kia post record US sales in July SEOUL, August 3 (AJP) - Hyundai Motor and affiliate Kia posted record U.S. sales in July, fueled by strong demand for hybrid vehicles. According to figures released by the automakers on Monday, their combined U.S. sales totaled 165,284 vehicles in July, up 5 percent from a year earlier. Hyundai Motor including its luxury brand Genesis sold 89,427 units, while Kia sold 75,857 units, with both companies achieving their highest-ever sales for the month. Sales of Hyundai's E August 3, 2026