Surging non-bank lending raises PF scare in Korea SEOUL, April 9 (AJP) — South Korea’s non-bank lending is expanding again as tighter bank regulations and elevated borrowing costs push credit demand into less-regulated sectors, demanding scrutiny amid fragile market conditions. Financial authorities took notice and moved to curb subprime lending growth as rising market yields and exchange rate pressures are increasingly straining vulnerable households and businesses. According to the Financial Services Commission April 9, 2026

Seoul advised to seek risk-free energy sourcing at first NEAC meeting SEOUL, April 09 (AJP) -South Korean President Lee Jae Myung admitted Thursday that the escalating Middle East conflict will deliver near-term economic damage while forcing a longer-term overhaul of the country’s industrial and energy structure. Speaking at the first plenary session of the National Economic Advisory Council at Cheong Wa Dae, Lee said the crisis is unfolding on two fronts — an immediate energy supply disruption and a broader erosion of industrial compet April 9, 2026

Seoul unveils new measures to fend off inflation, sees stabler FX market SEOUL, April 9 (AJP) —South Korea will reimpose a cap on retail fuel prices to contain a renewed surge in gasoline costs triggered by the prolonged blockade of the Strait of Hormuz, while signaling potential upside for the battered won through parallel market-stabilization measures. Deputy Prime Minister and Finance Minister Koo Yun-cheol said Thursday the government will unveil a third round of emergency price ceilings on petroleum products at 7 p.m., with the new caps to t April 9, 2026

Lee congratulates Thai PM on reelection SEOUL, April 8 (AJP) - President Lee Jae Myung spoke by phone with Thai Prime Minister Anutin Charnvirakul on Wednesday to congratulate him on his reelection, Cheong Wa Dae said on Wednesday. The call, which was made the previous day, came after Anutin, who led the conservative Bhumjaithai Party to a landslide victory in Thailand's general election last February, was reelected as the country's prime minister on March 19. He became the first Thai prime minister to win April 8, 2026

Lee urges bipartisan unity, defends extra budget in meeting with party leaders SEOUL, April 7 (AJP) - President Lee Jae Myung met with leaders of both the ruling and opposition parties on Tuesday, urging bipartisan cooperation and national unity as South Korea faces a major crisis amid the prolonged conflit in the Middle East. At a luncheon meeting at Cheong Wa Dae in central Seoul, Lee said, "Internal unity is especially important when a country faces a crisis." He added that South Korea is in a "major crisis" caused by external factor April 7, 2026

Seoul sends envoy to Kazakhstan, Oman, and Saudi on energy mission SEOUL, April 07 (AJP) - South Korea is dispatching a government delegation led by a senior presidential envoy to key energy partners in Central Asia and the Middle East to secure crude oil and naphtha supplies as the country braces for fallout from prolonged disruptions of the Strait of Hormuz. Kang Hoon-sik, chief of staff to President Lee Jae Myung, will depart Tuesday for Kazakhstan, Oman and Saudi Arabia in his capacity as special envoy for strategic economic cooperation, the April 7, 2026

Lee set to meet ruling, opposition party leaders over lunch SEOUL, April 7 (AJP) - President Lee Jae Myung is set to meet with leaders of both the ruling Democratic Party (DP) and the main opposition People Power Party (PPP) at Cheong Wa Dae in central Seoul on Tuesday to discuss measures to cope with the deepening Middle East crisis. Lee is scheduled to hold a luncheon meeting with DP leader Jung Chung-rae and PPP leader Jang Dong-hyeok. The meeting comes roughly seven months after the last one held in September last year and about two April 7, 2026

More companies voluntarily join efforts to save energy amid skyrocketing oil prices SEOUL, April 7 (AJP) - More companies are voluntarily joining energy-saving efforts including alternating vehicle use as part of measures to cope with energy shortages amid the prolonged conflict in the Middle East, the Ministry of Climate, Energy and Environment said on Tuesday. Major conglomerates such as CJ, GS, Hanwha, HD Hyundai, Hyundai Motor, Lotte, Samsung, SK, and POSCO are requiring employees to leave their cars at home once a week depending on the last digit of their lice April 7, 2026

Trump sets Hormuz deadline, singles out South Korea over Iran war support SEOUL, April 07 (AJP)-U.S. President Donald Trump on Monday reiterated a deadline for Iran to reopen the Strait of Hormuz by 8 p.m. Tuesday, warning of military action while again singling out South Korea, saying Washington had received little help from its allies. “The entire country can be taken out in one night, and that night might be tomorrow night,” Trump said at a White House press briefing, as he pressed Tehran to accept a deal to restore oil transit. Iran, April 7, 2026

Seoul in a bind as Tehran imposes selective screening for Hormuz access SEOUL, April 06 (AJP) - Iran is allowing a trickle of vessels through the Strait of Hormuz under a selective access regime, with ships linked to "friendly" nations securing passage while South Korean tankers remain stranded, exposing Seoul's limited leverage in the deepening energy crisis. At least 15 ships transited the chokepoint over the past 24 hours with prior authorization from Tehran, a fraction of normal traffic, underscoring tight controls imposed after the ou April 6, 2026