South Korea's June 3 local elections seen as key test for Lee government and party leaders SEOUL, June 03 (AJP) - South Korea’s June 3 local elections are shaping up as a crucial political test one year after the launch of President Lee Jae Myung’s government, with the outcome expected to affect the administration’s governing momentum as well as the futures of several major political figures. The elections, the first nationwide vote since the change in government, are widely viewed as more than a contest over local power. Political observers say the re June 3, 2026

President Lee urges voters to cast ballots, cites Plato in election-day posts SEOUL, June 03 (AJP) - President Lee Jae Myung wrote in a post on X (formerly known as Twitter) at 8:55 a.m. (2355 GMT) on Wednesday, the day of South Korea’s June 3 local elections, “As Plato said, have you voted to avoid being ruled by the worst and lowest among us?” The remark referenced a quotation commonly attributed to Plato: “The heaviest penalty for declining to rule is to be ruled by someone inferior to yourself.” In another post uploaded June 3, 2026

Key battlegrounds in spotlight as South Koreans prepare to go to polls SEOUL, June 2 (AJP) - South Koreans will go to the polls nationwide on Wednesday for this year's local elections to choose more than 4,200 officials including metropolitan mayors, provincial governors, local government heads and education superintendents, as well as fill other vacancies. Polling stations across the country will be open from 6 a.m. to 6 p.m. Seoul is considered the biggest battleground. As the country's political and economic center, major state institutio June 2, 2026

Shin's BOK signals active central bank intervention, putting monetary tightening and CBDC in spotlight SEOUL, June 02 (AJP) - The Bank of Korea (BOK) International Conference themed "Central Banks and the Future of Money," which ran from Monday to Tuesday, served as less of a purely academic event and more of a debut public stage highlighting the long-term vision of BOK Governor Shin Hyun-song. The central bank positioned staunch advocates of price and financial stability at the forefront while pitching a future monetary order centered around central bank digital currencies (C June 2, 2026

UPDATE: Korea's May inflation hits 26-mo high, hastening hike agenda *Updated with additional information and market response. SEOUL, June 02 (AJP) - South Korea's inflation accelerated by the fastest pace in 26 months to run above 3 percent in May as energy shocks from prolonged Gulf conflicts pushed up prices from fueling to service charges coupled with crisis-level exchange rate to rock capital markets and send the central bank scrambling for emergency actions. The composite consumer price index for May rose 3.1 percent from a year earlier, June 2, 2026

Consumer prices hit 26-month high as fuel prices soar SEOUL, June 2 (AJP) - South Korea's consumer prices rose 3.1 percent in May from a year earlier, the Ministry of Statistics and Data said on Tuesday. Consumer prices, which serve as a key gauge of inflation, rose above 3 percent for the first time in 26 months since February 2024, fueled by sharp increases in petroleum and industrial product prices. An index measuring the prices of daily necessities also rose to 3.3 percent, the highest level since March 2024, suggesting that June 2, 2026

Ex-presidents return to campaign trail to rally conservatives ahead of local elections SEOUL, June 1 (AJP) - Former Presidents Lee Myung-bak and Park Geun-hye on Sunday intensified their support for conservative candidates ahead of the upcoming June 3 local elections, making high-profile campaign appearances in the traditional conservative strongholds of the southeastern cities of Busan and Daegu in a bid to rally voters amid dim prospects. The two former disgraced presidents, both of whom previously received prison sentences in separate corruption scandals before lat June 1, 2026

Early voting for local elections hits record high, but final turnout remains to be seen SEOUL, June 1 (AJP) - Early voting for South Korea's June 3 local elections wrapped up with a record-high turnout, fueling speculation that final turnout could surpass a previous record of 60.2 percent seen in the 2018 local elections, the highest level in nearly three decades. The National Election Commission (NEC) on Sunday said 10.49 million of the country's 44.64 million eligible voters cast ballots during the two-day early voting period held Friday and Saturday, for a t June 1, 2026

UPDATE: Korea's April factory output and spending retreat on Gulf energy shocks *updated with additional information and market response SEOUL, May 29 (AJP) — The energy shocks from a months-long disruption of the Strait of Hormuz arising from Middle East conflicts have landed on South Korean shores, battering industrial activity, corporate investment, and consumer spending in April, official data showed Friday. Factory output fell 0.7 percent month-on-month, marking the first contraction since January, as the crucial refining sector was hit hard by May 29, 2026

Korea's April industrial activity and spending retreat on Gulf energy shocks SEOUL, May 29 (AJP) - The energy shocks from months-long disruption of the Strait of Hormuz from the Middle East conflicts arrived on South Korean shores, battering industrial activity, corporate and consumer spending in April, data showed Friday. Factory output fell 0.7 percent from the previous month in April, the first contraction since January, as the refining sector was hit hard by the suspension of shipments from the Gulf, according to the Ministry of Statistics and Data. May 29, 2026