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  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
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  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
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  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
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  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
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  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
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  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
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  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
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  Cheong Wa Dae revamps website to mark Lee's 300 days in office SEOUL, March 30 (AJP) - Cheong Wa Dae's official website was revamped on Monday to mark President Lee Jae Myung's 300th day in office, the presidential office said. Lee, who began his term in June last year without a usual two-month transition period following the ouster of disgraced former President Yoon Suk Yeol after the Constitutional Court upheld his impeachment over his botched Dec. 3, 2024 declaration of martial law was unable to put together a proper website and March 30, 2026
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  S. Korea considering participation after France invites Lee to June G7 summit SEOUL, March 28 (AJP) - South Korea is considering whether President Lee Jae Myung will attend the Group of Seven (G7) summit in June hosted by France, the presidential office said Friday. A presidential official said Seoul is “considering participation while taking into account diplomatic schedules and domestic and international circumstances.” “France conveyed its intention to invite South Korea to this year’s G7 summit during close consultations between March 28, 2026
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  Seoul enforces ban on naphtha exports for 5 months amid supply crunch SEOUL, March 27 (AJP) -South Korea will keep domestic naphtha at home after its shortage from the widened conflicts in the Middle East has crippled a cracking facility, sending downstream ripples across factory floors to plastic delivery bags and cartons. The Ministry of Trade, Industry and Energy on midnight Friday issued a gazette enforcing ban on naphtha exports immediately for five months as a part of a package of "wartime" measures that included deeper and longe March 27, 2026