Korea's M2 growth slows for first time this year in July SEOUL, Sept. 15 (AJP) — South Korea's annual M2 growth slowed for the first time this year in July as readily accessible savings deposits fell while term deposits and money trusts increased as interest rates went higher. M2, a broad measure of money supply, rose 5.8 percent from a year earlier, easing from 6.0 percent in June, according to data released Tuesday by the Bank of Korea (BOK). On a seasonally adjusted monthly basis, M2 rose 0.3 percent to 4,225.6 trillion September 15, 2026

South Korea's August terms of trade strongest ever SEOUL, September 15 (AJP) - South Korea's purchasing power from trade rose to its strongest level ever in August as soaring semiconductor prices more than offset renewed pressure from higher global oil prices, central bank data showed. The net barter terms of trade index jumped 27.1 percent from a year earlier, the largest gain since the series began in 1988, while the income terms of trade index climbed 60.0 percent, also a record increase, according to the Bank of Korea (BOK). September 15, 2026

Fairness backlash jolts Lee, lifts conservative opposition SEOUL, September 14 (AJP) - President Lee Jae Myung is facing a sharp erosion of support among young South Koreans, with controversies surrounding former Gender Equality and Family Minister nominee Yong Hye-in and Justice Minister nominee Kim Seung-won turning questions of fairness into a political liability for the administration’s second Cabinet reshuffle. A Realmeter survey released Monday showed Lee’s approval rating among respondents aged 18 to 29 at just 18.6 per September 14, 2026

Overdraft borrowing surges 10% amid stock investment in Korea SEOUL, Sept. 14 (AJP) — Overdraft borrowing at South Korean banks has surged around 10 percent to nearly 70 trillion won ($52 billion) so far this year amid frenzied retail stock investment, government data showed. Outstanding borrowing reached 69.73 trillion won at the end of July, according to Financial Supervisory Service data submitted to Rep. Park Sung-hoon. The figure represents funds actually drawn by borrowers rather than their total approved credit limits. The numb September 14, 2026

Lee's approval rating hits dismal low as young voters turn against him SEOUL, September 14 (AJP) - President Lee Jae Myung's approval rating has fallen to a record low of 33.8 percent, according to a poll released on Monday. Pollster Realmeter surveyed more than 2,500 adults nationwide last week and found that 33.8 percent of respondents said Lee was doing a good job, down 3.6 percentage points from the previous week. It marked the ninth consecutive week of decline and the lowest since he took office in June last year. It was the lowest level September 14, 2026

Corporate tax to top income tax '27 as chips reshape Korea's tax base SEOUL, September 14 (AJP) -South Korea’s corporate tax revenue is projected to more than double next year from this year’s supplementary-budget estimate and exceed income tax receipts for the first time in 15 years, as the semiconductor windfall is expected to continue well into 2027. Corporate tax revenue is forecast to reach a record 216.7 trillion won ($161.5 billion) in 2027, according to the Ministry of Finance and Economy’s national tax revenue budget plan, September 14, 2026

Korea's gender minister nominee quits under pressure SEOUL, September 13 (AJP) - South Korea's nominee for gender equality minister withdrew on Sunday after the governing party asked her to step aside, ending a nomination that had lasted 14 days and, with it, President Lee Jae Myung's first attempt to bring a smaller progressive party into his cabinet. Yong Hye-in announced the decision at a hastily called news conference at the National Assembly, two weeks after Lee named her on Aug. 30 to lead the Ministry of Gender Equali September 13, 2026

Bank of Korea's AI rate-setters keep choosing not to decide SEOUL, September 11 (AJP) — Artificial intelligence can help analyze economic data, but it cannot be relied upon for policymaking because of its susceptibility to bias, a Bank of Korea study showed. The finding emerged from a joint forum the BOK hosted with the Korean Statistical Society on Friday, where researchers described AI systems that could interpret macroeconomic data and simulate rate decisions with fluent, plausible-looking reasoning — but whose errors kept ske September 11, 2026

Lee pushes to expand food aid for underprivileged SEOUL, September 11 (AJP) - President Lee Jae Myung on Friday welcomed the nationwide expansion of a government program that provides food and daily necessities to people struggling to make ends meet without requiring them to first prove their eligibility. Lee said on X that the "Geunyang Dream" program, first launched in Gyeonggi Province, would now be available across the country. The program's Korean name, "Geunyang Dream," literally means "just gi September 11, 2026

Central Asian leaders to gather in Seoul for inaugural summit SEOUL, September 11 (AJP) - President Lee Jae Myung will host the inaugural South Korea-Central Asia Summit in Seoul next week, bringing together the leaders of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan to discuss critical minerals, energy, artificial intelligence (AI), digital technology and infrastructure cooperation, Cheong Wa Dae said on Friday. In a written statement, presidential spokesperson Kang Yu-jung said the three-day summit will kick off next W September 11, 2026