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  South Korean households spend more as income gap widens in Q1 SEOUL, May 29 (AJP) - South Korean households spent more in the first quarter, but their savings declined as spending grew faster than earnings for the first time in nearly two years, the Ministry of Data and Statistics said on Friday. According to the ministry, average monthly household income rose 2.4 percent from a year earlier to 5.48 million won (US$4,000) in the first quarter of 2026. Among them, average income for salaried workers stood at 3.42 million won. Average monthly May 29, 2026
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  KOSPI surges to record 8,476 on Iran-Hormuz deal reports SEOUL, May 29 (AJP) - The KOSPI surged 3.55 percent to close at a record 8,476.15, its sharpest advance this week, as reports of a United States-Iran deal in principle to reopen the Strait of Hormuz unleashed a broad rally that lifted autos and batteries alongside semiconductors — a breadth the AI-driven run had conspicuously failed to deliver in prior sessions. The catalyst was unambiguous. A senior American official confirmed during the session that Washington and Tehran h May 29, 2026
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  Korea's tax revenue brims from strong stock and corporate earnings SEOUL, May 29 (AJP) - South Korea’s national tax revenue expanded sharply during the first four months of this year on track for excess revenue of 25.2 trillion won ($17 billion) this year on blistering stock market rally and corporate earnings, the government said Friday. According to the Ministry of Economy and Finance on Friday, cumulative national tax revenue from January to April reached 164.1 trillion won ($109.7 billion), adding 21.9 trillion won from the same period May 29, 2026
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  NPS delivers 4.4% return Q1 to outperform others on 22% return from Korean equities SEOUL, May 29 (AJP) — South Korea's National Pension Service (NPS) posted a solid 4.42 percent return in the first quarter thanks to stellar performance of local shares despite the outbreak of the U.S.-Iran war. NPS, one of the world's largest institutional investors with assets under management swelling to 1,526 trillion won ($1.14 trillion), said Friday its assets increased by 68 trillion won from the end of last year, with domestic stocks returning 21.67 percent May 29, 2026
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  HOT STOCK: Samsung Electro-Mechanics flies to No. 3 stock on KOSPI SEOUL, May 29 (AJP) - Samsung Electro-Mechanics' shares landed comfortably above 2 million won milestone Friday, flying over 15 percent to No. 3 on South Korea's main bourse — the culmination of a two-month rerating that has carried the stock from around twentieth on the KOSPI to within reach of the two trillion-won chip giants. By 1:00 p.m., the stock traded at 2,130,000 won, up 15.2 percent from the previous session, with a market capitalization just short of of May 29, 2026
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  KOSPI rebounds as Middle East tensions show signs of easing SEOUL, May 29 (AJP) - South Korean stocks opened higher on Friday, recovering from a brief decline the previous day, as the benchmark KOSPI climbed back above 8,400 on hopes that the prolonged conflict in the Middle East could soon come to an end. The KOSPI rose 2.31 percent to 8,374.58 shortly after trading began, nearing its recent intraday high of 8,457.09. The junior KOSDAQ, however, fell 2.31 percent to 1,078.89 as investors shifted toward large-cap stocks. The rebound follo May 29, 2026
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  Samsung Elec joins Anthropic funding round, fueling expectations of foundry order SEOUL, May 29 (AJP) - Samsung Electronics has taken a stake in Anthropic, the U.S. artificial-intelligence company behind the Claude model, in a deal that has raised expectations the South Korean firm will manufacture AI chips for Anthropic through its loss-making foundry business. Anthropic said on Thursday in the United States that it had raised $65 billion in a Series H funding round that valued the company at $965 billion, or about 1,440 trillion won — figures that rank am May 29, 2026
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  U.S. and Iran are "within reach" of a deal, news that may uplift Asian markets SEOUL, May 29 (AJP) -The United States and Iran are “within reach” of an agreement to end the three-month war that has rattled global energy markets, and the prospect of a reopening of the Strait of Hormuz may help lift Asian stocks Friday after a broad retreat the previous session. U.S. Treasury Secretary Scott Bessent said Washington and Tehran “perhaps have the makings of a deal,” with negotiations centering on a 60-day framework that would gradually unwin May 29, 2026
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  Stocks, bonds tumble as BOK chief signals potential rate hikes in 2nd half SEOUL, May 28 (AJP) - South Korea's stock and bond markets were jolted on Thursday after the Bank of Korea (BOK) hinted at potential rate hikes in the second half of the year. While the benchmark KOSPI recovered most of its intraday losses near the close on institutional interpretations of a "healthy" rate hike, government bond prices collapsed, ending sharply lower as monetary tightening was seen as almost certain. The index finished at 8,185.29, down 0.53 percent, May 28, 2026
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  KOSPI slips after record rally while BOK holds rate but signals hikes ahead SEOUL, May 28 (AJP) - The Bank of Korea held its benchmark interest rate steady on Thursday but delivered its clearest signal yet that a tightening cycle is coming, pulling the KOSPI back from this week's record highs as traders repriced for higher borrowing costs ahead. The central bank kept its policy rate at 2.5 percent, a decision nearly every economist had expected, at the first meeting chaired by new BOK governor Shin Hyun-song. The news lay in the dissent: five of the sev May 28, 2026