BOK to add gold to its coffers for the first time since 2013 SEOUL, September 30 (AJP) — The Bank of Korea (BOK) is going gold shopping in December for the first time since February 2013, adding about one metric ton of domestically produced bullion to its foreign reserves. The BOK expects to complete a transaction and settlement system for domestic gold purchases on Dec. 14, clearing the way for purchases around the middle of the month, according to data submitted to Rep. Jung Tae-ho of the Democratic Party. The initial purchase is e September 30, 2026

Seoul's spy agency claims Ukraine asked POW transfer keep sealed SEOUL, September 30 (AJP) - Ukraine handed over two captured North Korean soldiers in respect for their wishes without any conditions attached and asked the transfer kept discreet, Seoul's spy agency told lawmakers Wednesday. In a closed-door briefing to the National Assembly Intelligence Committee, the National Intelligence Service (NIS) confirmed Kyiv had requested strict secrecy from the early stages of consultations, according to People Power Party lawmaker Yoo Yeong-ha. September 30, 2026

Korea's mortgage rates hit four-year high SEOUL, September 30 (AJP) — South Korea's average mortgage rate rose to 4.66 percent in August, its highest since November 2022, as borrowing costs increased across household and corporate loans, central bank data showed Wednesday. According to data released by the Bank of Korea (BOK), the average rate on new household loans rose 0.12 percentage point from July to 4.76 percent. Mortgage rates climbed 0.18 percentage point to 4.66 percent, extending their rise for a fourt September 30, 2026

Seoul mulls buyback and issuance cut to tame bond yields SEOUL, September 30 (AJP) —South Korean authorities are ready to intervene to contain the spike in bond yields through buybacks and new issue cutback, according to government release. South Korea's economic authorities on Wednesday agreed to deploy emergency government-bond buybacks and curb new offerings if yield rises are deemed excessive, using part of around 63.2 trillion won ($46.6 billion) in tax windfall. The measures were discussed at an expanded macro-fiscal-f September 30, 2026

Korea's Aug factory output in steepest decline in 10 months *Updated with additional information SEOUL, September 30 (AJP) — South Korea’s factory output sank 5.1 percent in August - the steepest monthly decline in 10 months - amid rising inventories, easing external demand and a deepening slump in domestic demand, government data showed Wednesday. The broader mining, manufacturing and utilities output index fell 4.8 percent from the previous month, also the biggest pullback since October 2025, according to the Ministry of Dat September 30, 2026

Korea's mortgage bomb ticks as market rates surge SEOUL, September 29 (AJP) — Rapidly rising mortgage rates as domestic markets track a surge in U.S. Treasury yields are unnerving South Korean borrowers carrying more than $850 billion in housing debt and complicating the central bank’s fight against renewed inflationary pressure. Mortgage loans stood at 1,190.8 trillion won ($852 billion) at the end of June, accounting for about 63 percent of the country’s 1,891.3 trillion won in outstanding household loans, accor September 29, 2026

Seoul insists Ukraine requested POW secrecy SEOUL, September 29 (AJP) - Ukraine had asked South Korea to keep the transfer of two captured North Korean soldiers secret, the South Korean government reiterated Tuesday. Seoul insisted that the two sides had agreed to confidentiality, while it waited for an apology from Kyiv for revealing the transfer and then denying that any such agreement existed. The Ministry of Foreign Affairs (MOFA) summoned Andrii Vieshkin, Ukraine's chargé d'affaires in Seoul, on Mond September 29, 2026

Korea's youth fret hiring cuts if retirement age rises: KEF SEOUL, September 29 (AJP) — Eight in 10 young South Koreans expect companies to reduce new hiring if the statutory retirement age is extended, a Korea Enterprises Federation survey showed Tuesday. The survey of 1,052 job seekers and employed people aged 20 to 34 found that 81.0 percent expected an extension to reduce new recruitment. Of the respondents, 51.4 percent expected hiring to fall to some extent and 29.6 percent anticipated a sharp decline. Another 12.4 percent exp September 29, 2026

Korea's H1 card payments rise 7.6% as cardless use grows SEOUL, September 29 (AJP) — South Korea's card payments rose 7.6 percent in the first half of 2026 despite slower growth in in-person spending, central bank data showed Tuesday. The Bank of Korea (BOK) said the daily average value of payment-card transactions reached 3.8 trillion won ($2.8 billion), up from 3.5 trillion won a year earlier. The growth pace from 3.7 percent in the first half of 2025 to 7.6 percent in the first six months of this year. Credit-card trans September 29, 2026

Lee urges faster nuclear submarine, hypersonic missile push SEOUL, September 29 (AJP) - President Lee Jae Myung on Tuesday called for faster development of nuclear-powered submarines and hypersonic missiles, while ordering a probe into last week's DMZ mine blast. "A strong national defense is a key pillar for protecting the national interest," Lee said during a Cabinet meeting at the presidential office, calling for greater speed in building nuclear-powered submarines and advancing missile technologies, including hypersonic wea September 29, 2026