South Korea to launch CIA-style fund for security startups SEOUL, June 26 (AJP) - South Korea will set up a government-backed venture fund modelled on the U.S. Central Intelligence Agency's In-Q-Tel (IQT) to nurture companies in emerging security technologies, pledging 50 billion won ($32.3 million) by next year. The Ministry of SMEs and Startups unveiled the plan on Friday, dubbed a "Korean IQT," at a strategy meeting on fostering future security innovators held at the presidential office. The vehicle will invest directly in June 26, 2026

Foreign-currency deposits rise for 2nd consecutive month in May SEOUL, June 26 (AJP) - Foreign-currency deposits held by South Korean residents rose for a second straight month in May, led by an increase in dollar deposits, according to data released by the Bank of Korea on Friday. The total amount of outstanding foreign-currency deposits at domestic banks stood at US$112.25 billion as of the end of May, up $1.57 billion from a month earlier, continuing its upward streak after rebounding the previous month following several months of decline. June 26, 2026

Eight more South Korean ships clear Strait of Hormuz after ceasefire SEOUL, June 26 (AJP) - Eight more South Korean-operated vessels stranded inside the Strait of Hormuz have safely passed through the strategic waterway following the ceasefire between the United States and Iran, leaving five left behind, according to South Korea's Ministry of Oceans and Fisheries Friday. The ministry said the eight ships, carrying a total of 37 South Korean crew members, have resumed normal operations after transiting the strait. One of the vessels is bound for June 26, 2026

Korea debates whether to mimic 'Teach You a Lesson'-like defense of teachers SEOUL, June 25 (AJP) - A hit Netflix K-drama depicting a powerful government agency that intervenes in cases of school violence, disruptive students and attacks on teachers is increasingly influencing education policy discussions in South Korea, with education officials citing the show for the push for the restoration of teaching authority. The drama, “Teach You a Lesson,” has become one of Netflix’s most-watched non-English-language shows globally, while inspir June 25, 2026

Korea's record birth streak extends to fourth month SEOUL, June 24 (AJP) — South Korea extended its record birth streak this year with four-month tally nearing 100,000 mark for the first time in seven years and helping to bolster the fertility rate closer to 1. According to the Ministry of Data and Statistics on Wednesday, 24,521 babies were born in April, up 3,734, or 18.0 percent, from a year earlier. It was the highest April figure since 2019 and marked the largest year-on-year increase for the month since monthly records June 24, 2026

North Korean soldier crosses border to defect to South Korea SEOUL, June 24 (AJP) - A North Korean soldier crossed the military demarcation line overnight, the Joint Chiefs of Staff (JCS) here said on Wednesday. "The soldier has been investigated by relevant agencies," the JCS said, without providing further details. But he was reportedly found to have expressed an intention to defect. The last time a North Korean soldier crossed the heavily fortified border to defect was in October last year. That followed two separate defect June 24, 2026

More South Koreans head to Japan, widening travel gap with neighboring country SEOUL, June 24 (AJP) - More South Koreans have been traveling to Japan amid the weak yen, while far fewer Japanese tourists are visiting Seoul. According to entry and departure records from the Ministry of Justice, nearly 9.46 million South Koreans headed to Japan last year, compared with about 3.65 million Japanese travelers who visited South Korea during the same period. Japan also remained the most popular overseas destination for South Koreans this year. In April alone, mor June 24, 2026

Most self-employed oppose sharp minimum wage hike amid business slump SEOUL, June 23 (AJP) - More than half of the self-employed felt their business environment worsened from a year earlier and favored a freeze in next year's minimum wage, a survey released on Tuesday shows. According to a recent survey of about 500 mom-and-pop businesses nationwide by the Korea Enterprises Federation, around 57 percent of respondents said their business environment worsened over the past year, while 8.4 percent said they saw some improvement and 34.6 percent sa June 23, 2026

Kookmin University signs sports safety agreement SEOUL, June 23 (AJP) - Protecting athletes and crowds from physical harm during major international sporting events is a growing global priority. To meet this critical need, the Asia Olympic Academy at Kookmin University and the Sports Safety Foundation have agreed to jointly research venue risk management and train professional safety staff, the university said Monday. Conventional sports management programs have historically focused on event marketing, ticket sales, and athletic June 23, 2026

World-OKTA readies 2026 Korea-China trade expo in Shenzhen SEOUL, June 23 (AJP) - The World Federation of Overseas Korean Traders Associations (World-OKTA) has formally launched an organizing committee for the 2026 Korea-China economic and trade exchange expo, opening preparations for the October event in the southern Chinese city of Shenzhen. The federation said Tuesday it held an inaugural ceremony for the committee in Beijing on June 21, aiming to recruit exhibitors, build local cooperation channels, match buyers and steer on-the-ground June 23, 2026