KOSPI retreats after record close as foreign investors sell SEOUL, June 2 (AJP) - South Korea's benchmark KOSPI slipped in morning trade on Tuesday, retreating from the previous day's record close as investors took profits in major stocks. The index dropped to around 8,700 after closing at an all-time high of 8,788.38 the previous session. Shares of LG affiliates, which had led the previous session's rally, came under selling pressure, while a surprise US$80 billion equity raise by Google parent Alphabet prompted investors to rea June 2, 2026

South Korean bond yields surge on hawkish BOK remarks amid lingering Middle East conflict SEOUL, June 1 (AJP) - South Korean government bond yields surged following a double blow of U.S. President Donald Trump's rejection of a draft peace memorandum of understanding with Iran and hawkish remarks from the Bank of Korea (BOK) governor. The local currency, in contrast, erased early losses to close slightly higher as a clearer path toward interest rate hikes cushioned the market. The three-year government bond yield rose 5.9 basis points to 3.790 percent, its highest June 1, 2026

South Korea to launch 24-hour FX trading amid concerns over won stability SEOUL, June 1 (AJP) - As authorities prepare to open South Korea's foreign exchange market full-time on weekdays, expectations are growing that the move could partially ease exchange rate volatility. Experts, however, say longer trading hours alone cannot stabilize the won unless trading volume and global trust in the currency also improve. That came after revisions to the foreign exchange market code of conduct were approved last Friday, paving the way for expanded U.S. dollar& June 1, 2026

KOSPI breaks 8,700 on Samsung-led rally as Nikkei also hits high SEOUL, June 01 (AJP) - South Korea's benchmark KOSPI surged 3.7 percent to close at a record 8,788.38, breaking above the 8,700 level for the first time in its history in a session driven by two simultaneous re-ratings at the heart of the artificial intelligence (AI) trade. Samsung Electronics said it has begun shipping samples of its next-generation HBM4E memory, the industry's first 12-layer high-bandwidth chip and a generational step up in the AI memory hierarchy, June 1, 2026

SK hynix reports no production disruption after minor spark at Cheongju plant SEOUL, June 01 (AJP) - SK Hynix confirms no production disruption after minor pipe spark at Cheongju plant SK Hynix reported zero disruptions to semiconductor production following a minor spark at its Cheongju plant in South Korea, despite the incident triggering the evacuation of 3,600 employees. The company stated that no major injuries occurred during the maintenance work and manufacturing operations remain fully intact. The incident began at 10:32 a.m. on the 1st in a sixth-f June 1, 2026

Samsung Electronics' market cap surpasses 2 quadrillion won SEOUL, June 1 (AJP) - Samsung Electronics on Monday became the first South Korean company to top 2 quadrillion won in market capitalization, driven by surging investor enthusiasm over the ongoing AI-driven chip boom. Shares of the tech giant surged 10.25 percent to 349,500 won as of 1:40 p.m. on the benchmark KOSPI, hitting an intraday high and pushing its market capitalization to 2,041.8 trillion won (US$1.51 trillion). Samsung first crossed the 2 quadrillion won mark at around June 1, 2026

BOK's two-day conference opens with warnings over stablecoins and digital money shift SEOUL, June 01 (AJP) - The spread of stablecoins could reinforce the dominance of the U.S. dollar and weaken monetary sovereignty in other economies, European Central Bank executive board member Isabel Schnabel warned on Monday at the Bank of Korea's annual conference in Seoul on Monday. At the two-day conference held under the theme "Central Banks and the Future of Money" at the central bank's annex hall, Schnabel said in her keynote speech that the rapid spread o June 1, 2026

Fire and toxic gas leak at SK hynix plant force 3,600 workers to evacuate SEOUL, June 01 (AJP) - A fire and subsequent toxic gas leak at an SK Hynix factory in Cheongju, South Korea, prompted the evacuation of 3,600 employees on Monday morning. Seven workers were transported to an affiliated hospital after exposure to the chemicals, though the company reported no disruption to overall production, firefighters said. The incident began at 10:32 a.m. (0132 GMT) in a sixth-floor gas room connecting the M15 and M15X facilities at the company's Cheongju 4 June 1, 2026

Record visitor arrivals drive biggest-ever April spending in Seoul SEOUL, June 01 (AJP) - Foreign visitors flocked to Seoul in record numbers in April and spent more than ever before, signaling that the city's tourism recovery is evolving into a broader consumer spending boom. The number of overseas visitors to the capital reached 1.56 million in April, up 18.8 percent from a year earlier and the highest figure ever recorded for the month, according to data released by the Seoul Metropolitan Government on Sunday. Foreign visi June 1, 2026

KOSPI hits fresh high as Nvidia chief's expected Seoul visit raises AI partnership hopes SEOUL, June 1 (AJP) - South Korea's benchmark KOSPI crossed the 8,500 mark for the first time in its history in early Monday trade, rising 2.2 percent to 8,662.4 points, extending last Friday's record close of 8,476.2. The gains came ahead of Nvidia chief executive Jensen Huang's expected visit to Seoul this week for meetings with LG and Naver, fueling expectations of potential artificial intelligence (AI) and robotics-related partnerships between the world's dominan June 1, 2026