Korea inflation hits 30-mo high June, pace slows on weak demand SEOUL, July 02 (AJP) - South Korea's consumer inflation accelerated to a 30-month high in June as soaring petroleum prices accounted for nearly one percentage point of the headline increase, keeping pressure on policymakers while demand remains weak. The consumer price index stood at 119.99 in June, up 3.2 percent from a year earlier, the Ministry of Data and Statistics said Thursday. The rate accelerated from 3.1 percent in May and remained above 3 percent for a second str July 2, 2026

Korea's annual inflation above 3% in June but slows amid sluggish demand SEOUL, July 02 (AJP) - South Korea's consumer inflation remained above 3 percent for a second straight month in June, driven by elevated energy costs stemming from the prolonged Gulf crisis, although monthly price growth slowed, suggesting inflation may have peaked as global oil prices eased and domestic demand remained weak. The composite consumer price index (CPI) stood at 119.99 in June, up 3.2 percent from a year earlier and 0.1 percent from the previous month, the Ministry July 2, 2026

Google faces fresh Korean antitrust action over alleged app store exclusivity SEOUL, July 01 (AJP) - South Korea's antitrust regulator has launched formal proceedings against Google, accusing the U.S. tech giant of using financial incentives to induce major game developers to give preferential treatment to its Play Store, in what authorities describe as an abuse of its dominant market position. The Korea Fair Trade Commission (KFTC) said Wednesday it had sent an examiner's report to Google, marking the start of deliberations that could lead to corre July 1, 2026

Korea's exports top $100 bln in June and near $500bn for H1 SEOUL, July 01 (AJP) - South Korea’s monthly exports topped $100 billion for the first time in June, with chips taking up nearly half of the record shipments, government data showed Wednesday. Exports reached $102.25 billion in June, up 70.9 percent from a year earlier, of which semiconductors reached $44.82 billion, nearly tripled on year, according to the Ministry of Trade, Industry, and Resources. It marked the first time Korea’s monthly exports exceeded the $100 July 1, 2026

Korea's growth estimates turn more sanguine on stronger chip power SEOUL, July 01 (AJP) -South Korea’s economic growth forecast for this year is turning more sanguine regardless of energy challenges on sizzling chip demand. More than 10 domestic and foreign institutions project the economy to grow in the 3 percent range, well above the Bank of Korea’s latest forecast of around 2 percent, with some even forecasting around 4 percent. British research firm Capital Economics recently raised its forecast for Korea’s real gross dom July 1, 2026

Korea's May factory output falls by steepest in a year on lower chip turnout SEOUL, June 30 (AJP) - South Korea’s industrial output fell for a second straight month in May as factory output dropped 3 percent on chip delivery adjustments, underscoring the weight of chipmaking on the economic performance, government data showed Tuesday. Manufacturing production fell 3.0 percent from the previous month, the steepest fall in a year, and dropped 0.9 percent from a year earlier. Output in the broader mining and manufacturing likewise fell 3.0 percent from June 30, 2026

BOK hunts for successor to lead its research institute SEOUL, June 29 (AJP) - The Bank of Korea (BOK) is scouting for an economist who will head its affiliated research institute, the central bank said on Monday. According to its open recruitment notice, the successful candidate, who will replace incumbent Lee Jae-won, a former professor at Seoul National University who took the role in 2023, will head the Economic Research Institute and be responsible for shaping the BOK's medium- to long-term research agenda as chief economist, June 29, 2026

Seoul backs K-beauty inroads to Saudi Arabia SEOUL, June 29 (AJP) -South Korea is stepping up support for K-beauty companies seeking to enter Saudi Arabia, betting the kingdom's rapidly expanding consumer market will become the industry's next major growth engine as Korean cosmetics exports continue to break records. The Ministry of SMEs and Startups said Monday it will launch a new program to help small and medium-sized cosmetics companies expand into Saudi Arabia, one of the Middle East's fastest-growing beauty June 29, 2026

Korea's business sentiment dips, divide deepens on narrow chip-led growth SEOUL, June 25 (AJP) - South Korea's business sentiment deteriorated by the steepest clip in 15 months while factory confidence climbed to its highest level in nearly four years, further underscoring the widening divide in the economy whose vitality is concentrated on chipmaking floors, central bank data showed Thursday. According to the Bank of Korea, the Composite Business Sentiment Index (CBSI) for all industries fell 1.2 points from a month earlier to 97.7 in June. The de June 25, 2026

BOK warns higher rates could cool asset risks but strain households SEOUL, June 24 (AJP) -Higher interest rates could help cool leveraged bets on stocks and property, but they would also increase burdens on households and create fresh financial risks, the Bank of Korea warned on Wednesday, as senior officials continued to signal that the benchmark rate would rise from the current 2.50 percent. In its June Financial Stability Report, the central bank said Korea’s financial system remains broadly stable, supported by stronger economic growth, June 24, 2026