IMF revision lowers Korea's current-account benchmark *The issue note reflects the author’s views and not necessarily the official position of the BOK SEOUL, October 6 (AJP) — An IMF demographic-model revision lowered South Korea’s estimated current-account norm by 1.10 percentage points, the largest decline among 26 economies, according to a Tuesday issue note from The Bank of Korea (BOK). Kim Min, an economist at the BOK’s International Department who authored the note, isolated the effect by comparing th October 6, 2026

Korea's FX reserves fall $1.72 billion as U.S. investment commitments loom SEOUL, October 06 (AJP) -South Korea’s foreign exchange reserves fell by $1.72 billion in September — the third-largest decline this year — as the country prepares to bankroll its pledged energy investments in the United States, highlighting potential pressure on its reserve holdings and the won. Foreign reserves stood at $440.56 billion at the end of September, down from $442.28 billion a month earlier, according to the Bank of Korea (BOK). The decline was th October 6, 2026

Seoul orders probe as financial hacks widen SEOUL, October 04 (AJP) - South Korean President Lee Jae Myung on Sunday ordered a thorough investigation into a widening wave of cyberattacks on financial companies, as evidence emerged that the campaign had reached beyond major banks into savings banks, capital firms and mutual-finance networks. Lee instructed officials to investigate the breaches and devise countermeasures with a “grave awareness” of the seriousness of the incidents, presidential spokesperson Kang Y October 4, 2026

From DMZ mines to skin boosters, audit looms SEOUL, October 04 (AJP) - South Korea’s National Assembly will open its annual state audit on Tuesday, setting the stage for three weeks of clashes over everything from housing and North Korea to a massive semiconductor project, nuclear exports and an unlikely new health-policy controversy involving skin injections made from donated human tissue. The audit, the second to scrutinize President Lee Jae Myung’s administration, will run from Oct. 6 through Oct. 27, with sev October 4, 2026

Prime Minister Han pledges inclusive 'AI Basic Society' SEOUL, October 03 (AJP) - South Korea's prime minister pledged Saturday to build what the government calls an "AI Basic Society," presenting the country's rapid adoption of artificial intelligence as a modern way to honor the ideal on which the nation was founded. The government has put money behind that goal. The Ministry of Science and ICT has proposed spending 9.4 trillion won ($6.96 billion) on AI next year, up 84.3 percent from 2026, as part of a record 29.6 October 3, 2026

High yields strengthen case for BOK pause, November still open SEOUL, October 2 (AJP) — South Korea’s fiscal authorities moved to contain surging bond yields by cutting planned debt issuance by about 5 trillion won ($3.7 billion), while softer headline inflation added to the case for the Bank of Korea to pause this month after two successive rate increases. Consumer prices rose 2.9 percent year-on-year in September, easing from 3.1 percent in August, although petroleum prices remained elevated, according to data released Friday by t October 2, 2026

South Korea seeks military sovereignty, but still needs Uncle Sam SEOUL, October 02 (AJP) - South Korean President Lee Jae Myung was unequivocal on Armed Forces Day - Seoul should reclaim wartime operational control of its military, a goal he wants to achieve before his five-year term ends in 2030. “There is no country in the world that relies on another person or another country for its military command authority,” Lee said at a luncheon following the ceremony marking the 78th Armed Forces Day, in a country that maintains roughly 45 October 2, 2026

Lee accuses Ukraine of making him a 'liar' in deepening POW dispute SEOUL, October 02 (AJP) -South Korean President Lee Jae Myung issued his bluntest rebuke yet of Ukraine on Friday over its disclosure of the confidential transfer of North Korean prisoners of war, accusing Kyiv of making him a “liar” and expressing “grave” regret over its handling of the sensitive matter. “I had been as polite as I can be as the president,” Lee wrote on X, referring to his earlier response to Ukraine’s “unilateral&rdqu October 2, 2026

Korea to cut October bond offering by around $4B to tame yields SEOUL, October 2 (AJP) —South Korea will cut planned October government bond issuance by 4.9 trillion won ($3.7 billion) to 12.5 trillion won and may conduct emergency buybacks if further action is needed to stabilize the market, the Ministry of Finance and Economy said. Deputy Prime Minister and Finance Minister Lee Hyung-il chaired a joint market review meeting with financial and housing authorities to agree on the measures. The government will consider further reductions October 2, 2026

Energy-poor, tech-rich Korea must link renewables with storage: IRENA chief SEOUL, October 02 (AJP) - South Korea, an energy-poor but high-tech powerhouse, must pair renewables and hydrogen with storage technology to power its advanced manufacturing economy, a senior international energy expert said. “Korea has strong technological and industrial capabilities to advance its energy transition,” Francesco La Camera, director-general of the International Renewable Energy Agency, said in an email interview with AJP. “The priority is to mobil October 2, 2026