Won rises to strongest level in nearly 11 months SEOUL, August 19 (AJP) - The South Korean won strengthened to below 1,400 per dollar on Wednesday for the first time in nearly 11 months, amid fading expectations of a September Fed rate cut and steady exporter dollar selling. The dollar-won exchange rate stood at 1,399 around noon, breaking below the 1,400 mark for the first time since Oct. 2, 2025, when it was at 1,399.5. As of 2:50 p.m., it stood at 1,398.3, compared with the previous day's daytime close of 1,411.8. The st August 19, 2026

Biotech firm surges after US approval of new cancer therapy SEOUL, August 19 (AJP) - Biotech firm Sillajen's shares surged on Wednesday, bucking a sharp market selloff, as the first U.S. approval of an oncolytic virus therapy in 11 years revived investor interest in companies developing similar cancer treatments. Its shares were trading 13 percent higher at 2,390 won in early afternoon trading after jumping as much as 29.79 percent to an intraday high of 2,745 won. The gain came despite a broad market selloff, with the benchmark KOSPI do August 19, 2026

South Korean retail investors flock to leveraged ETFs on Wall Street SEOUL, August 19 (AJP) - South Korean retail investors sharply increased their bets on U.S. stocks in July, pouring billions of dollars into leveraged funds and the American depositary receipts (ADRs) of chipmaker SK hynix amid a retreat in the domestic market, according to an analysis of Korea Securities Depository (KSD) data compiled by AJP on Wednesday. South Korean investors made US$3.79 billion in net purchases of the Direxion Daily Semiconductor Bull 3X Shares (SOXL) in July, August 19, 2026

KOSPI remains down 4 percent as KOSDAQ edges higher SEOUL, August 19 (AJP) - South Korean stocks were split Wednesday morning, with the KOSPI down more than 4 percent while the KOSDAQ edged higher. The benchmark KOSPI stood at 6,575.02 as of 10:30 a.m., down 4.34 percent. It had fallen as low as 6,400.81 shortly after the open before recovering some ground, with a high of 6,614.39. A sell-side sidecar was triggered shortly after the opening bell as KOSPI 200 futures tumbled, following an overnight selloff in U.S. chip stocks and August 19, 2026

FSS launches hiring drive for entry-level positions SEOUL, August 19 (AJP) - The Financial Supervisory Service (FSS) launched a hiring drive to recruit about 95 new employees for next year, the financial regulator said on Wednesday. It will accept applications for entry-level positions through Sept. 7 to recruit candidates who can better respond to emerging regulatory challenges. Applicants must select one of seven fields including business administration, law, economics, information technology (IT), statistics, financial engineer August 19, 2026

KOSPI plunges 7% as sell sidecar triggered SEOUL, August 19 (AJP) - South Korean stocks plunged on Wednesday, triggering a sell-side trading curb as surging global bond yields battered chip shares. The Korea Exchange activated a sell-side sidecar at 9:06 a.m. after KOSPI 200 futures fell 6.02 percent from the previous session's reference price. The benchmark KOSPI was down 6.74 percent at 6,407.14 at the time. The sidecar temporarily halts program sell orders for five minutes when KOSPI 200 futures fall at least 5 p August 19, 2026

Won stays firm as Korean bond yields jump SEOUL, August 18 (AJP) - The South Korean won edged higher against the dollar on Tuesday as foreign equity purchases and exporter dollar sales outweighed renewed Middle East concerns, while government bond yields rose sharply after a surge in U.S. long-term rates and a domestic 10-year debt auction. The won closed daytime trading at 1,411.8 per dollar, strengthening by 1.2 won from the previous session's close of 1,413. The currency opened at 1,417.0 and briefly strengthened August 18, 2026

KOSPI wipes out early gains to close below 7,000 after weeklong rally SEOUL, August 18 (AJP) - South Korean stocks surrendered sharp early gains on Tuesday as rising global bond yields and institutional selling erased a semiconductor-led rally, while trading remained subdued. The benchmark KOSPI closed at 6,869.83 points, down 1.55 percent from the previous session, ending a five-session winning streak. The index opened at 7,127.77 and surged more than 3 percent to an intraday high of 7,216.62 before reversing course and falling as low as 6,788.78. August 18, 2026

Vascular disease biotech firm makes strong KOSDAQ debut SEOUL, August 18 (AJP) - South Korean biotech firm Ingenia Therapeutics made its KOSDAQ debut on Tuesday. Its shares closed at 17,990 won (US$12.70) on their first day of trading, up 49.92 percent from the offering price of 12,000 won. The strong debut may have been supported by the firm's plans to develop more drugs and pursue additional global licensing deals. It develops treatments aimed at restoring damaged small blood vessels by modifying signals in the cells that form t August 18, 2026

Global regulators to share climate policies at Seoul conference next month SEOUL, August 18 (AJP) - Industry experts and regulators from global financial institutions will gather for a conference in Seoul hosted by the Financial Supervisory Service (FSS) next month, the South Korea's financial watchdog said on Tuesday. Under the theme "Future Climate Finance in the Era of Green Transition," the conference will be held at Ewha Womans University in western Seoul on Sept. 2. to discuss how the financial sector can support efforts to cut carbon August 18, 2026