Blue House policy chief calls AI production revolution SEOUL, July 05 (AJP) - Kim Yong-beom, director of the Blue House policy office, said Sunday that artificial intelligence represents a production revolution rather than a technology one, and that national power in the AI era will be decided by a country's ability to organize production systems rather than by technological strength alone. Kim made the remarks in a Facebook post on July 5, giving the clearest articulation yet of the governing philosophy behind South Korea's m July 5, 2026

Young South Koreans sour on Lee's housing policy SEOUL, July 03 (AJP) — More than half of young South Koreans are disgruntled with the current administration's housing policy amid sky-high rent prices. A survey released Friday by polling firm Korea Gallup showed that 46 percent of respondents viewed the President Lee Jae Myung administration's housing policy negatively, compared with 26 percent who viewed it positively. Negative sentiment was strongest among younger adults, with 56 percent of people in their 30 July 3, 2026

Samsung, SK, Hanwha, Hyundai bet $194 bln on southeastern Korea SEOUL, July 03 (AJP) - South Korea's ambition to build a "Chip Republic" expanded well beyond semiconductors on Friday, as four of the country's largest conglomerates pledged a combined 297 trillion won ($194.3 billion) to build artificial intelligence data centers, robot factories, defense systems and aerospace infrastructure across Korea's southeastern province of Gyeongsang. SK Telecom pledged the largest share at 140 trillion won, followed by Samsung at July 3, 2026

Korea's Lee to head to NATO summit as Seoul courts defense partners SEOUL, July 3 (AJP) -South Korean President Lee Jae Myung will travel to Türkiye and Mongolia next week for a five-day diplomatic swing aimed at expanding Seoul's security, defense industry and supply chain partnerships, the presidential office said Friday. Lee will attend the North Atlantic Treaty Organization (NATO) summit in Ankara from July 7 to 8 before making a state visit to Mongolia from July 9 to 11, National Security Adviser Wi Sung-lac said at a briefing at Cheon July 3, 2026

Korea's FX reserves edge up in June as ranking slips SEOUL, July 03 (AJP) -South Korea's foreign exchange reserves rose slightly in June, helped by a stronger dollar, but its global ranking slipped one notch, reflecting the cost of defending a stubbornly weak won, central bank data showed Friday. The country's foreign exchange reserves stood at $427.36 billion at the end of June, up $370 million from $426.99 billion in May, when the coffers shrank by $880 million, according to the Bank of Korea. The U.S.. dollar averaged July 3, 2026

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

New PM vows to curb inflation as her top priority SEOUL, July 2 (AJP) - Prime Minister Han Seong-sook on Thursday prioritized inflation control as her top task to improve people's lives as she began her new role, saying the South Korean economy remains "in a crisis" amid the lingering conflict in the Middle East. The remarks came as she held her first meeting at the government complex in the administrative city of Sejong since taking her post the previous day. The overall economic situation is "not one we can 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

President Lee to go live with cabinet H2 briefings SEOUL, July 01 (AJP) -South Korean President Lee Jae Myung will once again receive live televised briefings on the government's second-half policy agenda, pressing ahead with the format despite criticism that it has become more of a public spectacle than a working policy review. The presidential office said Wednesday that Lee will receive reports from government ministries and agencies from July 15 to July 21 in nine sessions, reviewing progress on tasks assigned during the ad July 1, 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