UPDATE: Korea's H1 C/A surplus second only to China *Updated with additional information and comments SEOUL, September 04 (AJP) - South Korea's current account surplus ranked second only to China's among major economies in the first half and will likely to keep up the rank rest of the year as July delivered the second-largest monthly surplus on record, the central bank said Friday. The July surplus came to $42.08 billion, down from June's record $49.73 billion but above $40 billion for a second month, extending the su September 4, 2026

Seoul readies possible Hormuz deployment: report SEOUL, September 04 (AJP) - South Korea under repeated pressure from U.S. President Donald Trump for military contribution to the U.S. operations in the Strait of Hormuz, is making concrete preparations to deploy naval assets including P-8 Poseidon maritime patrol aircraft, an explosive ordnance disposal team and a logistics support ship to the Persian Gulf, a report said. The Defense Ministry spokesperson, however, denied the report Friday, saying it was "not true" and September 4, 2026

S. Korea to move ministries and state bodies out of Seoul SEOUL, September 03 (AJP) - Central government ministries and about 350 public institutions will start leaving the Seoul metropolitan area in 2027, advancing a project the Constitutional Court forced South Korea to scale back more than two decades ago. Prime Minister Han Seong-sook said Thursday the government would publish its list of institutions to be moved in the fourth quarter of this year and begin relocating them the following year. The list will be built under what she cal September 3, 2026

Lee meets Hyundai chief in latest private talks with business leaders SEOUL, September 3 (AJP) - President Lee Jae Myung met with Hyundai Motor Group chairman Chung Eui-sun at an undisclosed location in Seoul earlier this week, according to industry sources on Thursday. Their private, closed-door meeting was reportedly held the previous day, although Cheong Wa Dae declined to confirm details, saying it was difficult to verify the president's private schedule. The two apparently discussed the automaker's planned investment worth 9 trilli September 3, 2026

Korea FX reserves gain record Aug, BOK drops ranking table SEOUL, September 03 (AJP) -South Korea's foreign exchange reserves stretched in monthly record of $14.33 billion in August amid record-setting trade surplus streak and a stronger won, according to the Bank of Korea which quietly ended a 25-year practice of publishing the country's global reserve ranking. Foreign reserves stood at $442.28 billion at the end of August, up from $427.95 billion a month earlier, the central bank said Thursday. The increase was the largest sin September 3, 2026

Experts warn of aging, low birthrates at BOK conference SEOUL, September 2 (AJP) - South Korea's rapidly aging population will put pressure on economic growth and pension systems even if birthrates recover, economists said Wednesday. They also said rigid workplace practices and intense competition in education continue to make it costly to raise children. The assessments came on the first day of a conference at the Bank of Korea in Seoul, held under the theme of "The Economics of Population Ageing and Longevity: From Challenges September 2, 2026

BOK sees September inflation easing, core pressures persist SEOUL, September 02 (AJP) - South Korea's consumer inflation is expected to ease in September as a telecom-related base effect fades, but underlying price pressures are likely to remain elevated, the Bank of Korea said Wednesday. The central bank made the assessment after an inflation review meeting chaired by Deputy Governor Lee Ji-ho earlier in the day. Consumer prices rose 3.1 percent in August from a year earlier, accelerating from 2.8 percent in July. "Consumer pr September 2, 2026

BOK highlights demographic challenges in international forum SEOUL, September 02 (AJP) - The Bank of Korea opened a two-day conference Wednesday on ageing and longevity, where Governor Hyun Song Shin urged early preparation for demographic pressures on growth, productivity and interest rates. The conference, titled “The Economics of Population Ageing and Longevity: From Challenges to Opportunities,” runs through Thursday in Seoul. It is jointly hosted by the BOK, the Centre for Economic Policy Research and the Organisation fo September 2, 2026

UPDATE: Korea's inflation returns above 3% Aug on one-off base effect *Updated with additional information, comments, and market response SEOUL, September 2 (AJP) - South Korea's consumer inflation accelerated above 3 percent in August, but would have eased to around 2.5 percent excluding a one-off base effect, as policymakers turn their attention to rising wage costs and strengthening demand as more persistent sources of price pressure. The consumer price index stood at 120.05 in August, up 3.1 percent from a year earlier and 0.2 percent from September 2, 2026

Chip windfall bankrolls Korea's record $600 bn budget for '27 SEOUL, September 01 (AJP) -Seoul has proposed a record 820.9 trillion won ($599 billion) budget outline through its biggest-ever increase of nearly 13 percent, riding on the chip windfall to invest in future growth instead of increasing immediate spending that can go counter to tightening monetary policy. Total spending for 2027 will rise 93 trillion won, or 12.8 percent, from this year's original budget, crossing the 800 trillion won threshold for the first time and exceedin September 1, 2026