BOK steps up vigilance on Fed uncertainty and Gulf risks SEOUL, July 30 (AJP) -South Korea's central bank said Thursday it would step up monitoring of domestic financial markets, citing mounting uncertainty over U.S. monetary policy and Middle East tensions layered on top of existing investor unease about a possible slowdown in artificial intelligence investment. The Bank of Korea (BOK) convened an emergency market review meeting at 8 a.m. local time, chaired by Deputy Governor Park Jong-woo, to evaluate global market developments f July 30, 2026

Lee arrives in Santiago for summit to revamp decades-old FTA with Chile SEOUL, July 30 (AJP) - President Lee Jae Myung arrived in Chile on Wednesday for the second leg of his South American tour, after concluding his state visit to Brazil. Lee is expected to push to upgrade a decades-old free trade agreement with Chile, Seoul's first FTA partner, and expand cooperation on critical minerals supply chains and infrastructure. Upon arrival at Arturo Merino Benítez International Airport in Santiago, Lee was greeted by Chilean officials incl July 30, 2026

Korea's factory sentiment hits 4-year high on AI chip, shipbuilding boom SEOUL, July 30 (AJP) - South Korea's manufacturing confidence climbed to its highest level in more than four years in July as a wave of AI-related semiconductor investment, data-center construction and strong shipbuilding and defense orders boosted factory activity, Bank of Korea data showed Thursday. The manufacturing Composite Business Sentiment Index (CBSI) rose 2.0 points from June to 103.2, its highest reading since June 2022 and the third straight month above the long-te July 30, 2026

South Korea rules out Lee reelection as constitutional debate flares SEOUL, July 29 (AJP) - President Lee Jae Myung is only in the second year of his five-year term, but speculation over whether a constitutional amendment could allow him to seek reelection briefly emerged as a political flashpoint before senior ruling-party figures moved quickly to rule out the possibility. The controversy erupted Tuesday after National Assembly Speaker Cho Jeong-sik said whether an incumbent president could run again under a revised Constitution was ultimately a m July 29, 2026

BOK chief argues rate-hike bias best to contain inflation SEOUL, July 29 (AJP) -Bank of Korea Governor Shin Hyun-song on Wednesday said maintaining a rate-hike bias was the most appropriate way to contain inflation, while stressing that the timing and pace of any further tightening would depend on incoming data and economic conditions. Shin made the remarks at a National Assembly Finance, Economy, Planning and Budget Committee meeting after Democratic Party lawmaker Yoon Hu-deok asked whether the central bank planned to raise rates once July 29, 2026

Financial regulators to probe leveraged ETFs amid market volatility, policy chief says SEOUL, July 29 (AJP) - Financial authorities will thoroughly review factors behind heightened stock-market volatility, presidential policy chief Kim Yong-beom said on Tuesday during a press briefing in São Paulo, Brazil, while accompanying President Lee Jae Myung on a state visit. Kim said the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) would examine why volatility in South Korean equities tends to be unusually high, while rejecting claims July 29, 2026

Korea and Brazil strike critical mineral agreement SEOUL, July 29 (AJP) -President Lee Jae Myung on Tuesday placed a newly signed South Korea-Brazil critical minerals agreement at the center of Seoul's strategy to deepen economic ties with Latin America's largest economy, saying cooperation on strategic resources, next-generation aircraft and K-beauty could unlock the two countries' untapped partnership. Speaking at a South Korea-Brazil business roundtable in Sao Paulo during his state visit, Lee said the two countries p July 29, 2026

Korea, Brazil link critical minerals with defense, aerospace SEOUL, July 28 (AJP) -South Korea and Brazil agreed Monday to deepen cooperation in critical minerals, defense and aerospace, seeking to pair Brazil's vast natural resources with Korea's advanced manufacturing as President Lee Jae Myung turned a state visit into an AI-era industrial partnership. Lee and Brazilian President Luiz Inacio Lula da Silva adopted a joint statement declaring 2026 the first year of a new phase in bilateral ties, while signing seven agreements coveri July 28, 2026

Korea must become an AI ecosystem power, not just chip power: CSIS SEOUL, July 28 (AJP) - South Korea risks squandering its AI-driven manufacturing advantage unless it evolves from one of the world's biggest exporters into an "ecosystem power" that shapes the technologies, standards and alliances underpinning the global artificial intelligence economy, a leading Washington think tank said. The assessment by the Center for Strategic and International Studies (CSIS) came under spotlight as President Lee Jae Myung seeks to reposition July 28, 2026

South Korea, Brazil agree to expand cooperation across sectors SEOUL, July 28 (AJP) - President Lee Jae Myung had a summit with Brazilian President Luiz Inácio Lula da Silva in Brasília on Monday, where they agreed to deepen cooperation in defense, aerospace, critical minerals and other strategic industries. Lee's trip to Brazil, which followed Lula's state visit to Seoul in February, marked the first state visit by a South Korean president to Brazil in 11 years. In a joint statement after their summit which lasted July 28, 2026