Korea's producer inflation cools as chip prices retreat SEOUL, Oct. 21 (AJP) — South Korea’s producer inflation plateaued in September as weaker chip prices and a stronger won offset holiday food demand and higher utility charges. The producer price index rose 0.2 percent from August to 129.78, according to the Bank of Korea (BOK), while the annual increase slowed to 7.7 percent from 7.9 percent. August’s monthly gain was revised down to 0.1 percent from the preliminary 0.2 percent. Underlying price momentum soften October 21, 2026

Youth pension subsidy sparks debate over cost and fairness SEOUL, October 20 (AJP) - South Korean President Lee Jae Myung's call to reconsider the application requirements for a new government-funded pension subsidy for young people has sparked a debate among lawmakers over fairness, fiscal responsibility and the fundamental principles of the country's pension system. The dispute emerged Tuesday after Lee questioned whether requiring young people to apply for their first month's pension contribution would unfairly exclude those October 20, 2026

Homebuyers in Seoul use cash for purchases SEOUL, October 20 (AJP) - More people relied on their own money to purchase apartments in Seoul this year as stricter loan rules made borrowing harder, accounting for nearly 70 percent of all buyers, government data showed on Tuesday. They spent 8 percent more of their own money or 54.18 trillion won (US$40.8 billion). Buyers relying on their own funds accounted for 66.8 percent of all apartment buyers, up from 58.4 percent a year earlier. The increase came even as the total amou October 20, 2026

Korea pulls diplomats from Kyiv as POW dispute deepens SEOUL, October 20 (AJP) - The South Korean government will withdraw part of its embassy staff from Ukraine, the foreign ministry said Tuesday. The move deepens a monthlong dispute with Kyiv over Ukraine's public disclosure that two captured North Korean soldiers had been sent to South Korea. Seoul announced on Oct. 8 that it was recalling its ambassador to Ukraine, Park Ki-chang. It was the first time South Korea had called an ambassador home from a host country since 2008, wh October 20, 2026

BOK, BoE discuss tokenization cooperation SEOUL, October 20 (AJP) — The Bank of Korea (BOK) and the Bank of England (BoE) discussed closer cooperation on tokenized finance after comparing domestic and cross-border digital-money projects, the BOK said Tuesday. Sarah Breeden, the BoE's deputy governor for financial stability, visited the BOK on Monday and exchanged views with officials on payment innovation and other issues. Officials from the two central banks reviewed progress on South Korea's Project Han October 20, 2026

Korea's growth could reach 3.6% this year: finance chief SEOUL, October 19 (AJP) — South Korea's economy could grow around 3.5 percent, beating earlier government estimate of around 3 percent and helping to bolster growth potential, said finance minister Lee Hyung-il. "I would say 3.4, 3.5, or 3.6 percent," he told reporters on the sidelines of the meetings of Group of 20 and Group of Seven finance ministers and central bank governors and annual conferences of IMF and World Bank in Bangkok on Oct. 16. The Organizati October 19, 2026

AJP Poll: BOK likely to hold this week, with rate peak seen at 3.50% SEOUL, October 19 (AJP) — The Bank of Korea (BOK) will likely wait to assess the impact of back-to-back rate hikes at its first rate-setting meeting since the latest increase, even as hot U.S. inflation data bolstered the odds of another Federal Reserve hike on Oct. 27–28, an AJP poll of seven economists found. Governor Shin Hyun-song too projected policymakers will likely stay pat at Thursday's meeting, and economists agreed as a third consecutive increase would b October 19, 2026

Lee set to discuss AI cooperation with World Bank chief in Seoul SEOUL, October 19 (AJP) - President Lee Jae Myung is holding talks with the World Bank Group's president Ajay Banga in Seoul, Cheong Wa Dae said on Monday. They are expected to discuss ways to expand cooperation in artificial intelligence (AI), energy and other areas including how South Korea can share its technological expertise and experience from its rapid economic growth to help strengthen AI capabilities, particularly in developing countries. Their talks will also co October 19, 2026

Korea, U.S. hold first finance ministry-central bank 2+2 talks SEOUL, October 16 (AJP) — South Korean and U.S. finance and monetary authorities held their first four-way meeting in Thailand on Friday, discussing recent economic conditions and ways to strengthen bilateral economic and financial cooperation. South Korean Finance Minister Lee Hyung-il met Bank of Korea Governor Shin Hyun-song, U.S. Federal Reserve Chair Kevin Warsh and U.S. Deputy Treasury Secretary Francis Brooke on the sidelines of the annual meetings of the International October 16, 2026

Lee's approval rating ticks up after weeks of decline: Gallup SEOUL, October 16 (AJP) - President Lee Jae Myung's approval rating rose 2 percentage points from a week earlier to 39 percent, a modest rebound from a record low after weeks of decline, pollster Gallup Korea said on Friday. In its survey of over 1,000 people nationwide conducted earlier this week, some 52 percent said Lee was not doing a good job, up 1 percentage point from the previous week. About nine percent were undecided or declined to answer. Lee's approval rati October 16, 2026