• For BTS fans, following them 'Into the Sun' is worth every second — even 3 months SEOUL, June 12 (AJP) — While much of South Korea was painted red in celebration of the national football team's opening victory at the 2026 FIFA World Cup, the country's second-largest city turned purple as BTS fans flooded Busan for a two-day concert marking the group's 13th anniversary. For many ARMY members, the concerts were more than another stop on BTS's world tour. They marked an emo
• BOK governor urges timely rate hikes as inflation, housing risks build SEOUL, June 12 (AJP) - Bank of Korea Governor Shin Hyun-song said Friday the central bank needs to raise interest rates “without delay,” sending his clearest signal yet that South Korea is moving closer to monetary tightening as inflation, housing prices and leveraged stock investment risks build at the same time.
• Disgraced ex-president sentenced to 30 yrs in prison over drone-related charges SEOUL, June 12 (AJP) - Former President Yoon Suk Yeol was sentenced to 30 years in prison on Friday over one of several charges related to his botched martial law debacle in 2024.
• UAE sends aircraft for early Cheongung-II delivery SEOUL, June 12 (AJP) - The United Arab Emirates has sent military transport aircraft to South Korea to secure early delivery of Korean-made Cheongung-II missile defense systems, as the Middle East war disrupts key maritime routes, defense sources said Friday.
• World Cup 26: Scenes from first World Cup SEOUL, June 12 (AJP) -South Koreans were united at lunchtime Friday, erupting in cheers, gasps and sighs of relief as they gathered at Gwanghwamun Square, offices, restaurants and homes nationwide to watch the national team's opening match at the 2026 FIFA World Cup.
• World Cup 26: Red floods Seoul as Taeguk Warriors begin World Cup journey SEOUL, June 12 (AJP) — South Korea's 2026 FIFA World Cup journey began not in Mexico but in the heart of Seoul on Friday, where office workers in red jerseys streamed into Gwanghwamun Square carrying coffee cups, national flags and hopes of a winning start against Czechia. Hours before kickoff at Guadalajara Stadium, the broad plaza beneath the statue of King Sejong was already buzzing with

AJP Briefing

• Won, bonds rally on U.S.-Iran peace hopes SEOUL, June 12 (AJP) - The South Korean won and government bonds strengthened sharply Friday as hopes for an end to the U.S.-Iran conflict eased pressure from oil prices, the dollar and foreign equity outflows. The won-dollar exchange rate closed at 1,519.8 won, down 9.1 won from the previous session, in Seoul’s foreign exchange market. The rate opened 10.9 won lower at 1,518.0 won before trimming part of its decline, but still ended in the 1,510-won range. The move came as investors pri
• KOSPI surges over 4% as foreign buyers return after weeks of selling SEOUL, June 12 (AJP) - The KOSPI closed up 4.63 percent Friday, capping a volatile week with a broad rally as foreign investors returned to Korean stocks after weeks of relentless selling. South Korea's benchmark KOSPI closed up more than four percent on Friday, capping a volatile week with a broad rally as foreign investors returned to the market after weeks of relentless selling. The index gained 359.67 points or 4.63 percent, though it eased from a sharper morning advance that briefly p
• Another fire breaks out at SK hynix's plant in Cheongju SEOUL, June 12 (AJP) - A fire broke out at SK hynix's chip plant in Cheongju, North Chungcheong Province on Friday, injuring one worker and forcing about 4,000 employees to evacuate. The fire came less than two weeks after a similar incident at the same plant on June 1. According to workers and fire officials, flames started at around 9:55 a.m. in a gas room on the second floor of its M15X facility at the plant. The fire was fully extinguished within about 10 minutes after the automatic sp
• World Cup 26: Korea rallies past Czechia in World Cup opener SEOUL, June 12 (AJP) - South Korea came from behind to defeat the Czechia 2-1 in its opening Group A match of the 2026 FIFA World Cup on Thursday, taking a major step toward the knockout stage after a spirited second-half comeback in Guadalajara, Mexico. Hong Myung-bo's side fell behind in the 58th minute when Czech defender Ladislav Krejci powered home a header from a set piece. But South Korea responded quickly as midfielder Hwang In-beom equalized nine minutes later before setting up su

ASIA Insight

• Asia races toward solar as energy security trumps fuel imports SEOUL, June 12 (AJP) - From rooftops in Manila to industrial parks outside Seoul, Asia is rapidly turning to solar power as Middle East instability and soaring AI-driven electricity demand force governments to rethink energy security. The blockade of the Strait of Hormuz earlier this year exposed the vulnerability of fuel-importing economies across Asia, accelerating what analysts describe as a race to generate more power at home. For many governments, renewable energy is increasingly viewed no by Kim Dong-young
• Buried beneath Korea's chip boom, refiners fight for survival SEOUL, June 11 (AJP) - Buried beneath South Korea's semiconductor boom is a quieter survival story unfolding in the country's refineries and petrochemical plants. South Korea's economic narrative has been dictated by silicon in recent years. Memory giants have propelled the KOSPI past stock markets in cities such as London and Toronto while joining the exclusive trillion-dollar market-capitalization club. In contrast, some of the country's oldest industrial pillars have been qu by Kim Dong-young

AJP Watch

• World Cup 26: Veterans steady, newcomers shine in Korea's first win SEOUL, June 12 (AJP) — South Korea's 2-1 comeback victory over Czechia in its opening Group A match at the 2026 FIFA World Cup was not the work of a single star. It was a victory built on balance — experienced leaders delivering in decisive moments while a new generation showed it was ready for football's biggest stage. Head coach Hong Myung-bo's side fell behind in the 58th minute when Ladislav Krejci powered home a header, but recovered through Hwang In-beom's equ
• Korea's ruling front humbles as approval rating droops in election aftermath SEOUL, June 11 (AJP) - The honeymoon period had been unprecedentedly longer for South Korean President Lee Jae Myung compared with past leaders, but it eventually came to an end. Just before departing for a European tour on Wednesday, Lee took time for a moment of self-reflection. In a post on X, he apologized to the public and pledged to "work harder" with greater modesty and openness after a string of polls showed his approval ratings falling sharply in the aftermath of the June 3

AJP Focus

• Korea's defense of won tested by SpaceX frenzy and foreign exodus SEOUL, June 11 (AJP) - South Korean authorities battling to defend the won near global financial crisis-era levels appeared to move to contain a retail rush into the blockbuster SpaceX listing on Friday, as surging demand for U.S. assets threatens to add pressure on the currency alongside a record foreign capital exodus. The Financial Supervisory Service (FSS) on Thursday summoned auditors from 12 major brokerages and urged them to strengthen internal controls over overseas investment brokerage
• Korea's job decline exposes weakness beneath chip boom SEOUL, June 11 (AJP) - South Korea’s employment rate fell by the steepest pace in five years as weakness in manufacturing and youth hiring exposed the limited spillover from a recovery increasingly driven by memory chip exports. According to data released Thursday by Ministry of Data and Statistics, the employment rate for people aged 15 and older fell 0.5 percentage point to 63.3 percent, marking the sharpest decline since February 2021. The number of employed people aged 15 and older w