ANALYSIS: Korea inflation enters war-driven upcycle SEOUL, April 02 (AJP) - South Korea’s inflation is beginning to turn upward, but March’s data likely understates the scale of price pressure building beneath the surface as the Middle East war feeds through oil, exchange rates and expectations. Consumer prices rose 2.2 percent in March from a year earlier, accelerating from 2.0 percent in the previous two months, according to data released Thursday. On the surface, the increase appears modest — still within the B April 2, 2026

South Korea seeks emergency funds as war in Middle East threatens economy SEOUL, April 02 (AJP) - South Korea's President Lee Jae Myung called for the immediate passage of a massive supplementary budget on Thursday, characterizing the current economic climate as a wartime state. Addressing the National Assembly, the president argued that the 34-day conflict in the Middle East necessitated a total mobilization of government resources. During his speech at the National Assembly, Lee called for a 26.2 trillion-won ($17.2 billion) supplementary budget, April 2, 2026

President Lee Jae Myung readies transit relief as Iranian conflict squeezes oil lanes SEOUL, April 02 (AJP) - In a bid to draft immediate measures to ease public transport crowding, South Korean President Lee Jae Myung has directed the Ministry of Land, Infrastructure and Transport on Thursday. The order follows an elevation of the national resource security alert to its second-highest level. Officials have already implemented a mandatory two-day vehicle rotation for public offices, which is expected to push a surge of commuters onto the transit grid. The war in Ir April 2, 2026

Korea inflation hits 3-month high March on oil shock from Middle East conflict SEOUL, April 2 (AJP) — South Korea's consumer prices accelerated at their fastest pace in three months in March on surging oil prices in the first month of the Middle East conflict, as the crippling of a key shipping waterway for energy supplies followed U.S.-Israeli attacks on Iran in late February, government data showed Thursday. The consumer price index for March rose 2.2 percent from a year earlier, the fastest since a 2.3 percent increase in December, driven by hig April 2, 2026

South Korea moves to rein in early private tutoring for toddlers SEOUL, April 1 (AJP) - A set of tightened rules will be implemented for kindergartens, nurseries, and private crammers to curb excessive courses for infants and preschoolers, the Ministry of Education said on Wednesday. According to the ministry, crammers would be barred from offering rote-style intensive classes for children under 36 months as early as the second half of next year, while lesson times for preschoolers would also be capped. The move comes amid growing criticism th April 1, 2026

The mix of populist element in Korea's "war" budget raises eyebrows SEOUL, April 01 (AJP) - President Lee Jae Myung is set to pitch for a 26.2 trillion won ($17.4 billion) "war" extra budget Thursday before the ruling-dominant National Assembly as a "preemptive" defense against fallouts on the energy-dependent economy as the conflicts in the Middle East enters a second month. Determined to fend off bigger damage, Lee indicated during a cabinet meeting on Tuesday approving a supplementary budget — just the third month into April 1, 2026

Seoul signals use of rarely-used emergency order to fast-track "war" budget SEOUL, March 31 (AJP) -South Korea is pushing ahead with an aggressive fiscal response to cushion the economic shock from the Middle East war, unveiling a 26.2 trillion won ($19.4 billion) supplementary budget aimed at stabilizing energy prices, supporting households and shielding key industries — despite the risk of stoking inflationary pressure with the won hovering at 2009 crisis-era lows. The emergency package, approved at a Cabinet meeting chaired by President Lee Jae M March 31, 2026

South Korea launches oil swap program for refiners amid Middle East supply disruptions SEOUL, March 31 (AJP) - South Korea is implementing an "oil swap" program that lends government-owned stockpiles to refiners to help them secure alternative oil supplies, the Ministry of Trade, Industry and Resources said Tuesday. At a daily briefing at the government complex in the administrative city of Sejong, Yang Gi-uk, a ministry official, said the government is "releasing stockpiles" for refiners. Yang said Middle Eastern crude makes up the largest shar March 31, 2026

Lee weighs bold economic measures as Middle East conflict deepens SEOUL, March 31 (AJP) - President Lee Jae Myung on Tuesday hinted at drastic measures to stabilize the economy amid the prolonged conflict in the Middle East. During a Cabinet meeting at Cheong Wa Dae in central Seoul, Lee said the government may take bold action including an emergency fiscal order if necessary, as the conflict that began with U.S.-led airstrikes on Iran late last month has escalated with no end in sight, setting off "warning signals" for the global ec March 31, 2026

Ex-PM Kim Boo-kyum declares bid for Daegu mayor SEOUL, March 30 (AJP) - Former Prime Minister Kim Boo-kyum on Monday declared his bid for Daegu mayor in the upcoming local elections slated for early June. At a press conference at the National Assembly, the ruling Democratic Party (DP)'s key hopeful said he will run for the mayoral post of the southern city, a traditional stronghold of the main opposition People Power Party (PPP). The four-term lawmaker, who also served as interior minister under former President Moon Jae-i March 30, 2026