Korea's growth could reach 3.6% this year: finance chief SEOUL, October 19 (AJP) — South Korea's economy could grow around 3.5 percent, beating earlier government estimate of around 3 percent and helping to bolster growth potential, said finance minister Lee Hyung-il. "I would say 3.4, 3.5, or 3.6 percent," he told reporters on the sidelines of the meetings of Group of 20 and Group of Seven finance ministers and central bank governors and annual conferences of IMF and World Bank in Bangkok on Oct. 16. The Organizati October 19, 2026

AJP Poll: BOK likely to hold this week, with rate peak seen at 3.50% SEOUL, October 19 (AJP) — The Bank of Korea (BOK) will likely wait to assess the impact of back-to-back rate hikes at its first rate-setting meeting since the latest increase, even as hot U.S. inflation data bolstered the odds of another Federal Reserve hike on Oct. 27–28, an AJP poll of seven economists found. Governor Shin Hyun-song too projected policymakers will likely stay pat at Thursday's meeting, and economists agreed as a third consecutive increase would b October 19, 2026

Korea, U.S. hold first finance ministry-central bank 2+2 talks SEOUL, October 16 (AJP) — South Korean and U.S. finance and monetary authorities held their first four-way meeting in Thailand on Friday, discussing recent economic conditions and ways to strengthen bilateral economic and financial cooperation. South Korean Finance Minister Lee Hyung-il met Bank of Korea Governor Shin Hyun-song, U.S. Federal Reserve Chair Kevin Warsh and U.S. Deputy Treasury Secretary Francis Brooke on the sidelines of the annual meetings of the International October 16, 2026

UPDATE: Chip boom lifts Korea's factory jobs after 26-month slide SEOUL, October 16 (AJP) — The extraordinary chip boom fueling full-capacity production and expansion at South Korea’s chip factories has spilled over to the job front, lifting factory employment for the first time in more than two years, although opportunities for young people remained constrained. The number of employed people rose by 113,000 from a year earlier to 29.266 million in September, according to data released Friday by the Ministry of Data and Statistics (M October 16, 2026

Oil surge lifts Korea's import prices despite stronger won SEOUL, October 16 (AJP) — South Korea's import prices rebounded in September on a double-digit surge in global oil prices despite a stronger won that weighed on export prices amid the strongest export volume growth in nearly 17 years. Won-denominated import prices rose 1.7 percent from August, marking their first monthly increase in four months, according to preliminary data released Friday by the Bank of Korea (BOK). Prices were 17.6 percent higher than a year earlier October 16, 2026

South Korea, Japan agree to extend currency swap deal for another 3 years SEOUL, October 15 (AJP) - South Korea has agreed with Japan to extend their US$10 billion currency swap agreement for another three years, as the two neighboring countries seek to maintain a financial safety net and strengthen bilateral cooperation, the Ministry of Finance and Economy said on Thursday. Deputy Prime Minister and Finance Minister Lee Hyung-il met with his Japanese counterpart Satsuki Katayama on the sidelines of the annual meetings of the International Monetary Fund October 15, 2026

Korea's lending to household cools, firms rise amid tightening SEOUL, October 15 (AJP) — South Korean bank household lending barely grew in September under tightening cycle while lending to large firms surged as they rushed to secure funds for bond repayments and capital expenditure before borrowing rates went higher. Household loans increased by 0.6 trillion won ($444 million) from a month earlier, sharply down from a revised 3.5 trillion won gain in August and the smallest positive monthly increase since March, according to data rel October 15, 2026

Korea's M2 growth slows in rate-hike wake Aug SEOUL, October 15 (AJP) — South Korea's broad money growth slowed for a second month in August, while the monthly pace accelerated amid larger inflows of corporate funds into short-term deposits and trusts after the central bank hinted more tightening following back-to-back rate hikes. M2 rose 5.6 percent from a year earlier, easing from 5.8 percent in July and 6.0 percent in June, according to data released Thursday by the Bank of Korea (BOK). On a seasonally adjus October 15, 2026

Will Sejong make the FSC a backseat driver in Korean finance? SEOUL, October 14 (AJP) - The Financial Services Commission (FSC) got its orders to move to Sejong on Tuesday. On Wednesday, it was running command in central Seoul against a hacking spree that has hit 16 financial companies, the kind of crisis that relocation will soon test. After second emergency response meeting held Wednesday at Government Complex Seoul, the FSC said intrusions had been confirmed across banks, savings banks, mutual finance, card and capital firms, peer-to-peer October 14, 2026

Korea finds 16 financial firms breached, 100,000 records leaked SEOUL, October 14 (AJP) — South Korean authorities found cyber breaches at 16 financial companies that exposed about 100,000 personal-data records, prompting a sector-wide security overhaul after weaknesses were identified at nearly one-quarter of firms checked. The Financial Services Commission (FSC) disclosed the findings Wednesday after a second emergency response meeting with the Financial Supervisory Service (FSS), Financial Security Institute and other authorities. Th October 14, 2026