Lee expresses respect on Teachers' Day SEOUL, May 15 (AJP) - President Lee Jae Myung on Friday expressed "deep respect and gratitude" to teachers as the country marked Teachers' Day. In a Facebook post, he thanked teachers across the country "who are working tirelessly in schools and classrooms even at this moment." He added, "Because of their efforts and dedication, today's Korea exists." He also pledged to do his best to create better environments in which May 15, 2026

Korea's import prices ease in line with softer oil prices SEOUL, May 15 (AJP) - South Korea’s import prices fell against a double-digit jump in March last month on eased international oil prices despite prolonged Middle East crisis, helping to feed robust trade terms despite slower growth in export prices from strong chip demand. The import price index fell 2.3 percent in April after a 18 percent surge seen in March on lower international oil prices and U.S dollar. As the average price of Dubai crude fell 17.8 percent month on May 15, 2026

Financial chiefs monitor market volatility, Samsung strike risks SEOUL, May 14 (AJP) -The so-called 'financial four (F4)' - chiefs responsible for fiscal, monetary, and financial policies - gathered Thursday to monitor recent volatility in the financial and foreign exchange markets, assess risks stemming from the war in the Middle East, and discuss market stabilization measures. Notably, the meeting also addressed the potential impact of a general strike at Samsung Electronics, the nation's largest company, on the financial market and May 14, 2026

Chief of newly-launched budget ministry meets BOK governor SEOUL, May 14 (AJP) - Park Hong-geun, the chief of the newly-launched Ministry of Planning and Budget, met with Bank of Korea (BOK) governor Shin Hyun-song in Seoul on Thursday. They discussed ways to strengthen cooperation in fiscal and monetary policy, as well as in establishing future strategies. During their talks at the Bank of Korea headquarters in central Seoul, both sides expressed concerns that, while exports remain robust, inflationary pressures are rising due to the pr May 14, 2026

Leaders of Korea and Mexico agree to expand cooperation in phone call SEOUL, May 14 (AJP) - Lee Jae Myung spoke by phone with Mexican President Claudia Sheinbaum Pardo, Cheong Wa Dae said on Thursday. In a written press briefing, presidential spokesperson Kang Yu-jung said the two leaders agreed on the need to expand bilateral cooperation during their phone conversation earlier in the day. The two leaders have kept in close contact since their first face-to-face meeting in June last year on the sidelines of the G7 gathering in Canada. They also May 14, 2026

Fiscal deficit narrows on stronger tax revenue, debt burden persists SEOUL, May 14 (AJP) — South Korea’s fiscal balance improved significantly in the first quarter of this year as tax revenues continued to recover, feeding the government rationale for more aggressive policy to counter import inflationary risks amid protracted Middle East conflicts. According to the Ministry of Planning and Budget on Thursday, total revenue from January to March reached 188.8 trillion ($128.5 billion) won, an increase of 28.9 trillion won from a year May 14, 2026

'Garden of Gratitude' memorial sparks political sparring ahead of Seoul elections SEOUL, May 14 (AJP) - Gwanghwamun Square, which gained international attention after hosting a Netflix-streamed BTS concert in March, has now added a new multinational landmark to its symbolic landscape. The Seoul Metropolitan Government on Tuesday officially opened the “Garden of Gratitude” at Gwanghwamun Square, a memorial space dedicated to the 22 United Nations member states that fought alongside South Korea during the 1950-53 Korean War, unveiling a politically char May 14, 2026

KOSPI flies to new highs after Lee clarifies controversial 'AI dividend' slip SEOUL, May 13 (AJP) - South Korea’s benchmark KOSPI returned to record-setting climb Wednesday after President Lee Jae Myung moved to calm investor concerns over controversial remarks by his top policy aide suggesting that gains from the country’s AI boom could be redistributed more broadly to the public. In a post on X on Wednesday, Lee accused some media outlets of distorting comments made by presidential policy chief Kim Yong-beom regarding a proposed “nationa May 13, 2026

Samsung strike threat sparks debate over South Korea's emergency labor powers SEOUL, May 13 (AJP) - Chips are responsible for fueling the South Korean economy against the Middle East headwinds and historic stock rally, which explains why policy chiefs from the president to cabinet ministers are going all-out to prevent full-fledged walkouts by chipmakers and even flag the option of a rarely used emergency power to disallow a strike. The debate intensified after mediation talks between Samsung Electronics and its labor unions collapsed Wednesday dawn, pushi May 13, 2026

Complaints involving online platforms surge, with Coupang most frequent SEOUL, May 13 (AJP) - A record number of disputes and similar cases were handled last year, driven largely by a sharp increase in online platform-related complaints, with Coupang accounting for the largest among platform operators, the Korea Fair Trade Mediation Agency (KFTMA) said on Wednesday. According to the agency, the number of such cases stood at 4,726 in 2024, up 17 percent from 4,041 a year earlier, the highest level since relevant statistics began being compiled in 2008. May 13, 2026