Group tourists from Indonesia allowed temporary visa-free entry until year's end SEOUL, May 28 (AJP) - Tourists from Indonesia are now allowed visa-free entry to South Korea from Thursday through the end of December. According to the Ministry of Justice, Indonesian tourists traveling in groups of three or more, whether independently or through a travel agency, are allowed to stay in South Korea for up to 15 days without a visa. The temporary measure in cooperation with the Ministry of Culture, Sports and Tourism and the Ministry of Foreign Affairs comes as Se May 28, 2026

AJP Watch: BOK's strongest-yet hike signal rattles markets SEOUL, May 28 (AJP) - After sitting on the benchmark at 2.50 percent for a full year, the Bank of Korea on Thursday issued the strongest-yet signal of a shift towards hikes of between 25 to 75 basis points, splashing cold waters on chip-blind stock frenzy. New Governor Shin Hyun-song, presiding over his first rate-setting meeting and media briefing, could hardly have been blunter about the direction ahead. "All the signs — price pressure, the growth May 28, 2026

BOK ups 2026 estimates for GDP growth to 2.6%, inflation to 2.7% SEOUL, May 28 (AJP) - The Bank of Korea (BOK) expects the economy to grow 2.6 percent this year, which would be the strongest in four years, and inflation to rise at the fastest post-pandemic pace due to energy shocks from the prolonged Gulf crisis. The central bank on Thursday hiked its annual GDP growth projection from the previous 2.0 percent to 2.6 percent, marking the second consecutive upgrade following the BOK's move in February, when it revised the growth outlook upwa May 28, 2026

BOK holds rate steady for year, keeps July move in play SEOUL, May 28 (AJP) — As widely expected, the Bank of Korea (BOK) on Thursday kept its benchmark interest rate unchanged at 2.5 percent for a full year, deferring a possible rate move to its next meeting in July as it judged the chip boom strong enough to offset the fallout from months-long Gulf disruptions and support stronger-than-expected economic growth. The first post-meeting briefing by new Governor Shin Hyun-song will be closely watched. The former BIS economist has May 28, 2026

Lee to mark first anniversary in office with news conference early next month SEOUL, May 27 (AJP) - President Lee Jae Myung will hold a news conference early next month to mark his first anniversary in office and set out his vision and goals going forward. In a press briefing at Cheong Wa Dae on Wednesday, Lee Kyu-yeon, senior presidential secretary for public relations, told reporters that the press conference will be held on June 8, where Lee will "reflect on his first year in office" and lay out his vision and key tasks for his second year. May 27, 2026

Lee calls for faster push to acquire nuclear-powered submarines SEOUL, May 26 (AJP) - President Lee Jae Myung on Tuesday called for accelerating South Korea’s push to acquire nuclear-powered submarines, as the government is seeking to unveil a basic plan for the development of a Korean nuclear-powered submarine by the end of this month. “We must speed up the introduction of AI and drone technologies and move faster to acquire nuclear-powered submarines, a key strategic asset for future defense capabilities,” Lee said during a C May 26, 2026

AJP Focus: Uncertain weekend for Iran deal that leaves much to be desired SEOUL, May 25 (AJP) - President Donald Trump’s warning on Sunday that U.S. negotiators should “not rush into a deal” with Iran underscored growing doubts over an emerging framework agreement that could reopen the Strait of Hormuz while leaving many of the Middle East conflict’s most dangerous questions unresolved. The remarks came soon after Washington officials said a deal with Tehran had been “largely negotiated” aimed at ending the war that e May 25, 2026

Hormuz reopening nears, but energy aftershocks to hit hard on Asia for months SEOUL, May 24 (AJP) -A draft framework between the United States and Iran to reopen the Strait of Hormuz is nearing finalization, Washington claims, offering hopes for relief from one of the worst energy supply disruptions in recent years. But for energy-dependent Asian economies including South Korea, the shock is far from over as crude shipments from the Gulf still require weeks to reach refineries even after maritime traffic resumes. U.S. President Donald Trump said Saturda May 24, 2026

Trump immigration overhaul to rattle Korean Americans and wider Asian diaspora SEOUL, May 23 (AJP)-The Trump administration’s latest immigration crackdown is sending shockwaves through Korean American and broader Asian immigrant communities after the government announced that most foreigners seeking U.S. permanent residency will now have to leave the United States and apply for green cards from their home countries. The policy, unveiled Friday by the U.S. Citizenship and Immigration Services (USCIS), effectively dismantles a decades-old practice known May 23, 2026

Lee pays respects to former President Roh in Bongha Village SEOUL, May 23 (AJP) - President Lee Jae Myung attended a memorial ceremony for former President Roh Moo-hyun in Bongha Village in Gimhae, South Gyeongsang Province, on Saturday. Lee made the remarks marking the 17th anniversary of Roh’s death, saying he would push ahead with reforms regardless of pushback from vested interests. “Beyond mourning you, I now feel the heavy responsibility and weight as president of the Republic of Korea, and I seek to carry on your will,& May 23, 2026