Korea consumer confident stays positive, but jitters rise over higher rates SEOUL, June 23 (AJP) - South Korea's consumer confidence remained positive for a second straight month, shrugging off the prolonged Gulf conflict on the back of a strong stock market, but the outlook deteriorated as concerns grew over higher rents and interest rates, central bank data showed Tuesday. According to the Bank of Korea, the Composite Consumer Sentiment Index edged up to 106.6 in June from 106.1 in May, marking a second consecutive month above the 100 threshold after June 23, 2026

SME loan delinquency rate at top five banks hits record high SEOUL, June 22 (AJP) - Loan delinquencies among small and medium-sized enterprises at South Korea’s five major banks rose to the highest level in data going back to January 2020, underscoring growing stress among smaller companies and self-employed borrowers. The average delinquency rate on won-denominated loans at KB Kookmin, Shinhan, Hana, Woori and NH NongHyup stood at 0.51 percent at the end of May, according to financial industry data released Monday. That was up 0.05 June 22, 2026

Military reform plans could weaken defense capabilities, critics warn SEOUL, June 22 (AJP) - Critics on Monday warned that plans to merge South Korea's military academies and dismantle the Defense Counterintelligence Command (DCC) could weaken the military readiness at a time of growing security challenges in the region. The criticism came at a forum on international security and changing patterns of warfare held at the National Assembly in Seoul and hosted by Rep. Han Ki-ho, a four-term lawmaker of the main opposition People Power Party (PPP) who June 22, 2026

Seoul steps up monitoring of Strait of Hormuz as US deal with Iran remains fragile SEOUL, June 22 (AJP) - The government is closely monitoring the safety of South Korean ships and crews stuck in the Strait of Hormuz, with 22 vessels still in the area, the Ministry of Foreign Affairs said on Monday. In a press briefing in Seoul on Monday, Foreign Minister Cho Hyun said, "We are working closely with the Ministry of Oceans and Fisheries and overseas missions to monitor conditions in the strait and ensure the safety of South Korean ships and crews." June 22, 2026

Netflix classroom drama mirrors reality as 300 teens admit to online gambling SEOUL, June 22 (AJP) -In one episode of Netflix's "Teach You a Lesson," an ordinary high school student falls into a vicious cycle of online gambling and criminal networks as he struggles to pay off mounting debt. A recent survey on school gambling suggests the hit Korean drama, which explores the social problems increasingly dominating classrooms, may be uncomfortably close to reality. Nearly 300 South Korean teenagers voluntarily admitted to illegal online gambl June 22, 2026

Lee's senior aide pick deepens ruling party divide amid sinking ratings SEOUL, June 22 (AJP) -South Korean President Lee Jae Myung's appointment of a conservative-leaning former prosecutor as senior presidential secretary for civil affairs is exposing growing fissures within the ruling camp at a time when both the president and his party are facing slipping public support. Lee on Sunday named Han Chan-sik, a lawyer at Kim & Chang and a former senior prosecutor, to the powerful post overseeing public officials and legal affairs. The presid June 22, 2026

Korea's June exports set 20-day record on tripled chip shipments SEOUL, June 22 (AJP) - South Korea’s exports rose to a record for the first 20 days of a month in June, as a powerful rebound in semiconductors pushed shipments nearly 60 percent higher from a year earlier. Exports came to $61.99 billion between June 1 and 20, up 60.4 percent from the same period last year, preliminary data from the Korea Customs Service showed Monday. The figure surpassed the previous 20-day record of $54.3 billion set in March, pointing to a sharper-than- June 22, 2026

Korean won hits weakest June level since 1998 crisis SEOUL, June 21 (AJP) - The South Korean won has averaged more than 1,520 per dollar so far in June, its weakest monthly level since the Asian financial crisis nearly three decades ago, as a firmer dollar and persistent foreign equity outflows weighed on the currency. The won averaged 1,521 per dollar through June 19, based on weekly closing prices at 3:30 p.m., according to the Bank of Korea's Economic Statistics System. That marks the highest monthly average since February 1 June 21, 2026

S, Korea warns chip boom could spark property speculation SEOUL, June 20 (AJP) - A historic semiconductor-driven economic boom in South Korea risks triggering widespread real estate speculation and widening wealth inequality unless fiscal policies are reformed, the presidential policy chief warned on Saturday. The influx of wealth driven by global demand for artificial intelligence chips has pushed economic indicators to record highs but threatens to distort the domestic economy. The warning highlights growing government concern that m June 20, 2026

Household debt bottlenecks S. Korean corporate lending SEOUL, June 20 (AJP) - South Korea's major commercial banks face a critical bottleneck in expanding corporate credit due to a heavy structural over-reliance on household loans. A report released Saturday by the Korea Institute of Finance warned that domestic lenders lack the capital agility of global competitors, leaving them poorly positioned to support national economic growth just as regulators freeze traditional consumer lending channels. This systemic vulnerability collid June 20, 2026