President Lee sends condolences to Indonesia after quake kills 53 SEOUL, August 17 (AJP) - President Lee Jae Myung expressed condolences on Monday to victims of the magnitude 7.7 earthquake that struck eastern Indonesia over the weekend, killing at least 53 people. "I cannot contain my sorrow at the news that a powerful earthquake in eastern Indonesia has caused great damage," Lee wrote on X, formerly Twitter. "On behalf of the government of the Republic of Korea, I extend my deep condolences to the victims and bereaved familie August 17, 2026

Korean trade minister flies to US as $200 bln deal snags SEOUL, August 17 (AJP) - South Korea's industry minister arrived in Washington on Sunday and said that detailed disputes had surfaced in the final stretch of talks over a $200 billion investment package, casting doubt on a late-August announcement of the first project Minister of Trade, Industry and Resources Kim Jung-kwan told reporters at Dulles International Airport on August 16 (local time) that video conferences and working contacts had not resolved the issues and that th August 17, 2026

Lee proposes talks to end Korean War, build peace regime SEOUL, August 15 (AJP) -South Korean President Lee Jae Myung on Saturday proposed talks among the parties to formally end the Korean War and replace the peninsula's decades-old armistice with a peace regime, saying such negotiations could also open a path toward halting North Korea's expanding nuclear capabilities. In his address marking the 81st anniversary of Korea's liberation from Japanese colonial rule, Lee laid out a three-part doctrine of peaceful coexistence w August 15, 2026

Korea's trade representative sacked, raising speculations SEOUL, August 15 (AJP) -South Korea abruptly dismissed its top trade negotiator on Saturday, leaving the command post for talks with Washington vacant as Seoul confronts fresh U.S. tariffs pressure to accelerate a $350 billion investment commitment and other unresolved trade disputes. President Lee Jae Myung removed Trade Minister Yeo Han-koo from office effective midnight, according to the Ministry of Trade, Industry and Energy. No successor was immediately named and the governmen August 15, 2026

Lee's disapproval rating outpaces approval rating for 1st time SEOUL, August 14 (AJP) - President Lee Jae Myung heads into the long Liberation Day weekend on a sour note, as his disapproval rating for the first time outpaces approval, according to a survey released on Friday. Pollster Gallup Korea conducted a poll of about 1,000 adults nationwide earlier this week and found that his disapproval rating rose eight percentage points from the previous poll in the fourth week of last month to 46 percent, the highest since his inauguration in June la August 14, 2026

Korea's legacy M2 growth hits 53-mo high, reviving liquidity concerns SEOUL, August 14 (AJP) - South Korea’s legacy broad-money measure rose 12.3 percent in June from a year earlier, its fastest pace in four years and five months, reviving concerns that liquidity is building too quickly even as the current M2 gauge remained below its long-term average. The Bank of Korea said Friday that growth in legacy M2 accelerated from 8.0 percent in December to 9.1 percent in February, 10.4 percent in April, 11.6 percent in May and 12.3 percent in June. August 14, 2026

Korea's July import prices fall as stronger won masks cost rebound SEOUL, August 14 (AJP) - South Korea’s import prices eased for the second straight month in July, backed by a stronger won and lower oil prices and further flagging a disinflation path, Bank of Korea data showed Friday. The won-denominated import price index stood at 160.09, down 1.0 percent from June after a revised 4.2 percent decline the previous month. The year-on-year rate nevertheless remained in double digits at 18.7 percent. Measured in contract currencies, however August 14, 2026

White House flags Korea in China tariff-evasion network SEOUL, August 14 (AJP) -The White House has placed South Korea in the top tier of countries exposed to potential Chinese tariff evasion, singling out Gyeonggi Province's semiconductor belt as a possible conduit for China-linked chips as Washington prepares an artificial intelligence-powered crackdown on what it calls a global "shadow transshipment network." A report released by the White House Office of Trade and Manufacturing Policy identifies more than 40 countries August 14, 2026

Trump shipbuilding order opens MASGA lane for Korea SEOUL, August 14 (AJP) -U.S. President Donald Trump has opened a potentially significant procurement route for South Korean shipbuilders under Seoul's $150 billion MASGA partnership, allowing qualifying foreign yards to build the first two ships in selected U.S. naval programs at home before shifting subsequent construction to American shipyards. The move, contained in a presidential memorandum signed Thursday, could turn part of the Korea-U.S. Make American Shipbuilding Grea August 14, 2026

Chip boom masks Korea's demand-led disinflation risk SEOUL, August 13 (AJP) - Before U.S. inflation eased in July, South Korea's data were already flashing signs of a disinflationary turn, as sluggish consumption weakened the transmission of strong chip-led growth into broader price pressure and defied expectations that inflation would accelerate further in the second half. The consumer price index stood at 119.77 in July, up 2.8 percent from a year earlier but easing from 3.2 percent in June, bringing inflation below 3 percent f August 13, 2026