Korea's consumer confidence upbeat, home price outlook hits 5-year high SEOUL, July 28 (AJP) -South Korean consumer confidence remained comfortably above its long-term average in July, as a chip-fueled economic recovery and rising income expectations outweighed inflation concerns, while expectations for home prices climbed to their highest level in nearly five years despite tighter monetary policy. The Bank of Korea's Composite Consumer Sentiment Index (CCSI) edged up to 106.8 in July from 106.6 in June, extending gains for a third straight month a July 28, 2026

Ex-President Yoon's 2022 campaign statements ruled false SEOUL, July 27 (AJP) - A South Korean court on Monday sentenced former President Yoon Suk Yeol to 18 months in prison, suspended for three years, after finding him guilty of making false statements during the campaign that carried him to the presidency in 2022. The first-instance verdict could also deliver a heavy financial blow to the conservative People Power Party. If the sentence survives the appeals process, the party would be required to return 39.7 billion won, or about $27 July 27, 2026

Shincheonji allegations engulf ruling party leadership race as probe widens SEOUL, July 27 (AJP) - Allegations that members of the Shincheonji religious group joined South Korea’s ruling Democratic Party en masse have intensified an already bitter leadership contest, prompting calls for a sweeping investigation into possible organized religious interference in party politics. A joint investigation team comprising prosecutors and police has reportedly found signs that Shincheonji members collectively joined the Democratic Party in parts of the Seoul July 27, 2026

Lee's approval rating falls again, remains below 50% for six weeks SEOUL, July 27 (AJP) - President Lee Jae Myung's approval rating fell for another week, according to a survey by pollster Realmeter released on Monday. In its survey of more than 2,500 adults nationwide last week, 46.3 percent of respondents said Lee was doing well, down 2.1 percentage points from the previous week. Slightly more respondents or 49.5 percent disapproved of his performance, while 4.2 percent remained undecided. Lee's approval rating has now remained in th July 27, 2026

Seoul to hold petroleum price cap until Gulf tensions ease SEOUL, July 27 (AJP) - President Lee Jae Myung said South Korea should maintain its ceiling on petroleum prices until instability in the oil market has clearly subsided, signaling that the emergency measure will remain a central part of the government’s response to renewed tensions in the Middle East. “I ask that the petroleum price ceiling remain in place until instability in oil prices has clearly been resolved, and that policy tools such as fuel-tax reductions be ma July 27, 2026

Lee inspects military transport aircraft in Brazil, kicking off South American tour SEOUL, July 27 (AJP) - President Lee Jae Myung arrived in Brazil on Sunday for the first leg of his three-nation South American tour, which will also take him to Chile and Argentina later this week. After landing at Brasília International Airport, Lee headed to an air force base to inspect a C-390 military transport aircraft manufactured by Brazilian aerospace company Embraer, which South Korea is set to acquire. There, he met South Korean Air Force personnel including pi July 27, 2026

Lee courts Silicon Valley's 'kingmakers' to back Korean startups SEOUL, July 26 (AJP) - President Lee Jae Myung met six of Silicon Valley's most influential venture capital firms on Saturday, urging them to help turn South Korea into an indispensable global hub for innovation and startup investment. The "Silicon Valley Venture Investment Meetup," held at a hotel in San Francisco, came a day after Lee met the chief executives of major U.S. technology companies, extending his U.S. visit from discussions with established Big Tech lea July 26, 2026

Section 301 cases offer room for negotiation as Korea: KITA SEOUL, July 26 (AJP) -About half of the U.S. trade investigations launched under Section 301 over the past decade ultimately ended with tariffs being suspended or withdrawn through negotiations rather than fully enforced, offering South Korea a potential playbook as it seeks to avoid additional duties from Washington's ongoing excess-capacity probe. The finding comes from an analysis by the Korea International Trade Association (KITA), which argues Seoul should capitalize on t July 26, 2026

Korea's Chimaek diplomacy gets a Silicon Valley AI makeover SEOUL, July 26 (AJP) - South Korea's signature chimaek culture — fried chicken and beer — found a Silicon Valley twist on Friday as President Lee Jae Myung clinked Budweiser bottles over burgers and fish and chips with Nvidia CEO Jensen Huang, Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Executive Chair Chung Euisun and other AI leaders on San Francisco's waterfront. The informal dinner at a marina restaurant, f July 26, 2026

Nvidia puts SK partnership at $500 billion SEOUL, July 25 (AJP) - A partnership between SK Group and Nvidia will reach $500 billion, Nvidia chief executive Jensen Huang said in San Francisco on Friday (local time), naming a sum larger than everything the chipmaker sold in its last full fiscal year. He said it in the future tense during a meeting with President Lee Jae Myung at a hotel downtown. The two companies would announce the partnership that day, he said, and the scale reached $500 billion (733 trillion won). As of S July 25, 2026