Lee's policy chief bows out and joins reshuffle SEOUL, September 01 (AJP) -President Lee Jae Myung's outspoken policy chief Kim Yong-beom bowed out Tuesday, just two days after surviving a broad reshuffle of the economic team amid mounting pressure over housing policy and controversial single-stock leveraged exchange-traded funds. Lee accepted Kim's resignation as the president's approval rating sank to a record-low 38.9 percent in the latest Realmeter survey, extending its decline to a seventh consecutive week. September 1, 2026

Korea's tax income up 18% on chip, stock and housing boom SEOUL, Aug. 31 (AJP) — Active stock and housing trading bolstered South Korea's tax revenue on top of a chip-led corporate earnings windfall, pushing cumulative tax income to 274 trillion won ($199.4 billion) through July, up 41.4 trillion won, or 17.8 percent, from a year earlier. Stock transaction tax collections more than quadrupled to 8.2 trillion won from 1.8 trillion won over the same period last year, reflecting the extraordinary surge in equity trading as well a August 31, 2026

Lee's approval rating nosedives below 40% SEOUL, August 31 (AJP) - President Lee Jae Myung's job approval rating fell for a seventh consecutive week, dropping below 40 percent for the first time since he took office, according to a poll released Monday. According to pollster Realmeter's survey of more than 2,500 adults nationwide conducted last week, 38.9 percent of respondents said Lee was doing a good job, down 1.3 percentage points from the previous week and marking the seventh consecutive week of decline. August 31, 2026

Korea's factory output loses steam July, retail sales sag SEOUL, August 31 (AJP) -South Korea's factory output growth sharply eased on a pullback from chip shipments while a key gauge of household consumption fell back in July, suggesting the economy's heavy reliance on chip activity and restricted trickle-down effect of the chip boom on the the broader economy, government data showed Monday. Mining and manufacturing output edged up 0.2 percent in July from the previous month, sharply losing steam from a 6.7 percent surge in August 31, 2026

Korea growth bets race near 4%, beyond 2026 in doubt SEOUL, August 31 (AJP) -Forecasts for South Korea's economic growth are racing higher as the artificial intelligence-driven semiconductor boom spills into investment and consumption, with nearly half of economists tracked by Bloomberg now expecting the economy to outperform the Bank of Korea's sharply upgraded 3.3 percent projection this year. But the optimism drops off sharply beyond 2026. Of 42 domestic and overseas institutions surveyed by Bloomberg as of Aug. 28, 2 August 31, 2026

Travel advisory for Nepal expanded amid risk of more floods SEOUL, August 29 (AJP) - A special travel advisory has been issued for four provinces in flood-hit Nepal amid the risk of further flooding and landslides, the Ministry of Foreign Affairs said on Saturday. The special advisory took effect at 9 p.m. the previous day for Bagmati, Gandaki, Koshi and Lumbini provinces as a short-term emergency measure, while a lower-level advisory urging increased caution remains in place for the rest of Nepal, according to the ministry. The ministr August 29, 2026

South Korean rescuers struggle to reach flood site in Nepal SEOUL, August 29 (AJP) - South Korean government officials and rescue workers are struggling to reach a hydropower plant construction site in northern Nepal after devastating floods and landslides left hundreds of people dead or missing including nine South Korean workers earlier this week. The missing workers include six employees of Doosan Enerbility and three from Korea South-East Power (KOEN). A government-led rescue team along with those from the two companies arrived in Kat August 29, 2026

Lee's approval rating keeps plunging SEOUL, August 28 (AJP) - President Lee Jae Myung's approval rating slid further, according to a survey released on Friday. Pollster Gallup Korea surveyed about 1,000 adults nationwide earlier this week and found that 42 percent said Lee was doing a good job, down 3 percentage points from the previous week. The figure was the lowest since Lee took office in June last year, continuing a downward trend in recent weeks. It was also below the previous low of 44 percent seen in the August 28, 2026

Seoul rolls out borrower relief to cushion rate-hike fallout SEOUL, August 28 (AJP) - South Korea rolled out a targeted financial-relief package for heavily indebted households and small businesses Friday, seeking to contain the fallout from the Bank of Korea's back-to-back rate hikes without reversing the central bank's broader monetary tightening. The government said it will buy and restructure billions of won in long-delinquent debt, expand cheap refinancing for small merchants and increase subsidized lending to low- and middle-cre August 28, 2026

BOK chief Shin to attend Jackson Hole, G20, BIS meetings SEOUL, August 27 (AJP) - Bank of Korea Governor Shin Hyun-song is heading for the United States on Thursday to attend the Jackson Hole Economic Policy Symposium, followed by G20 and BIS meetings. Shin will attend the Jackson Hole symposium from Friday and exchange views with central bank governors and academics. This year's symposium will be held under the theme "Financial Innovation: Implications for Payments and Policy." Shin will then attend the G20 Finance Mi August 27, 2026