Korea's job market shuts out 20s as first rung of hiring narrows SEOUL, August 12 (AJP) - For many South Korean parents, the cost of supporting children no longer ends at university graduation, as college-educated young adults spend longer trying to secure steady jobs. "People my age rarely ask what their children do these days. Some of my friends have kids living with them without regular jobs five years after graduation," said Yun Mi-hyeong, a 56-year-old mother of two living in Seoul's Gangnam district. Employment among South August 12, 2026

Youth job drought deepens, fall largest in 5 years SEOUL, August 12 (AJP) -South Korea's youth employment fell for a 45th straight month in July and the youth jobless rate posted its sharpest rise in more than five years, as hiring droughts in manufacturing and professional services deepened despite booming exports, government data showed Wednesday. The number of employed people aged 15 to 29 fell by 191,000 from a year earlier to 3.44 million, while their employment rate dropped 1.6 percentage points to 44.2 percent, according August 12, 2026

Outgoing BOK deputy argues for tightening bias SEOUL, August 11 (AJP) - The Bank of Korea should retain tightening bias as a surge in export income feeds into domestic demand and intensifies inflation and housing pressures, its outgoing deputy said Tuesday. Senior Deputy Governor Ryoo Sang-dai said further rate lifting remained necessary, although the timing and pace of additional moves should be determined by incoming data. “We need to maintain the rate-hike stance, while deciding the timing and pace of further increas August 11, 2026

Chip surge drives Korea's record early-August exports SEOUL, August 11 (AJP) - South Korea's exports jumped 45.3 percent from a year earlier to $21.29 billion in the first 10 days of August, the highest for any Aug. 1-10 period, customs data showed Tuesday. The figure surpassed the previous early-August record of $15.6 billion set in 2022. Both periods contained seven working days, with average daily exports also rising 45.3 percent to $3.04 billion. Semiconductor exports soared 155.4 percent to $9.95 billion, marking a recor August 11, 2026

US jobs test puts BOK August pause in focus SEOUL, August 07 (AJP) - Seoul's capital markets have slipped into a summer lull, leaving Friday's U.S. employment report as the most immediate test of whether the Bank of Korea can pause this month after restarting its tightening cycle in July. A sharp slowdown in U.S. hiring would weaken the case for another Federal Reserve rate increase, take pressure off the dollar and give the BOK more room to stay put. Resilient employment and wages could do the opposite, reviving expe August 7, 2026

Seoul plans homebuyer relief after mortgage squeeze draws criticism SEOUL, August 07 (AJP) - South Korea is preparing targeted relief from mortgage restrictions for young and first-time homebuyers, responding to criticism that its efforts to curb property speculation have made it even harder for households without substantial savings to buy homes. The move would mark a limited adjustment rather than a reversal of Seoul's household-debt crackdown, seeking to preserve curbs on leveraged property purchases while easing financing constraints on owne August 7, 2026

Seoul to rewrite public wealth rulebook to include cypto and AI assets SEOUL, August 06 (AJP) - South Korea will rewrite the rules governing nearly 1,403 trillion won ($985 billion) of public assets by bringing cryptocurrencies, intellectual property and financial holdings under a unified national wealth framework, marking the country's biggest overhaul of state asset management since the State Property Act was enacted more than seven decades ago. The Ministry of Economy and Finance unveiled the blueprint Thursday at an emergency economic ministe August 6, 2026

Korea's chip windfall swells C/A to record black while foreign equity exit deepens SEOUL, August 6 (AJP) - South Korea's semiconductor-driven export boom lifted its current account surplus to a record US$191 billion in the first half, nearly four times a year earlier, even as foreign investors pulled almost $89 billion from Korean stocks over the same period in the largest sustained equity outflow on record, central bank data showed Thursday. The current account surplus widened to $49.73 billion in June from the previous record of $38.61 billion in May and mo August 6, 2026

South Korea finalizes next year's minimum wage at 10,700 won per hour SEOUL, August 5 (AJP) - South Korea's minimum wage for next year was finalized at 10,700 won (about US$7) per hour on Wednesday, following an agreement reached last month by a 27-member committee comprising nine representatives each from workers, employers and government-appointed independent members. The Ministry of Employment and Labor said the new minimum wage will take effect on Jan. 1 and apply uniformly across all industries and workplaces. For full-time employees, it amou August 5, 2026

Odds of Korea's back-to-back rate hike fall on softer headline inflation SEOUL, Aug. 4 (AJP) — The surprising stall in South Korea's inflationary run in July has lowered expectations for a back-to-back interest-rate increase by the Bank of Korea this month, although policymakers remain wary of persistent underlying price pressures. Consumer prices rose 2.8 percent from a year earlier in July, slowing from 3.2 percent in June and falling below the 3 percent mark for the first time in three months. Core inflation, which Bank of Korea Gov. Shin August 4, 2026