• Korea's card debt surges on increased borrowing before higher rates SEOUL, August 27 (AJP) - South Korean card and insurance companies earned more in the first half as personal borrowings sought to secondary lenders due to stricter bank regulations, boding badly for household finances with lending rates set to go higher.
• Seoul tourist spending surges 70% as arrivals hit record SEOUL, Aug. 27 (AJP)-Foreign tourists are spending substantially more in Seoul even as visitor numbers hit records, with card spending surging nearly 70 percent in July — more than three times the pace of growth in arrivals, metropolitan government data showed Thursday. Seoul welcomed a record 1.61 million foreign visitors in July, up 20.8 percent from a year earlier, while their card spending jump
• Lee meets Samsung chief in private amid push for mega chip cluster SEOUL, August 27 (AJP) - President Lee Jae Myung held a private dinner meeting with Samsung Group chairman Lee Jae-yong earlier this week, according to sources in political and business circles on Thursday. Their talks at an unidentified location in Seoul the previous day are drawing attention for their possible focus on major domestic projects including plans to build a mega semiconductor cluster amid growing
• Seoul races to find 9 Koreans in Nepal flood SEOUL, August 27 (AJP) -South Korea is sending an emergency response team to Nepal after nine Korean workers at a hydropower construction site went missing in a catastrophic Himalayan flash flood that killed at least 160 people across Nepal and Tibet.
• Hyundai ties up with Nvidia for self-driving push SEOUL, August 26 (AJP) -Hyundai Motor will work with Nvidia to put Level 2+ autonomous-driving technology into its first mass-produced software-defined vehicle in 2028, anchoring an ambitious AI push that also includes a 50,000-GPU data center, humanoid robots and expanded robotaxi production.
• Military brass rebel against academy merger at hearing SEOUL, August 26 (AJP) - President Lee Jae Myung and Defense Minister Ahn Gyu-back remain committed to merging South Korea's Army, Navy and Air Force academies into a single institution, but a raucous public hearing Wednesday exposed the depth of resistance.

AJP Briefing

• KOSPI pares Nvidia rally after BOK hikes to 3% SEOUL, August 27 (AJP) — South Korea's KOSPI gave up more than half of its Nvidia-fueled early gains Thursday after the Bank of Korea (BOK) delivered a surprising back-to-back rate hike to 3 percent, tempering a rally in Korean chipmakers that had pushed the benchmark close to 7,000. The KOSPI traded at 6,864.75 as of 10:20 a.m., up 0.84 percent, after jumping more than 2 percent earlier in the session on Nvidia's bullish outlook for artificial intelligence demand and warnings of
• BOK raises 2026 growth forecast to 3.3%, inflation seen at 2.7% SEOUL, August 27 (AJP) -The Bank of Korea (BOK) bumped up its growth forecast for this year to 3.3 percent from 2.6 percent in May, citing a stronger and longer-than-expected semiconductor upcycle that has fueled equipment investment and stock-market activity in Korea. Annual growth of 3.3 percent would put Asia's fourth-largest economy above its potential growth rate for the first time since its 4.7 percent rebound in 2021 from the pandemic-hit year of 2020. The government has also raised

AJP ScaleUP

• Afinit eyes KOSDAQ listing on India growth SEOUL, August 26 (AJP) - South Korean fintech company Afinit has begun the process of listing on the KOSDAQ, seeking to build on rapid growth in India and expand its financial services into other emerging markets. The company said Wednesday that it submitted a preliminary listing application to the Korea Exchange (KRX), formally kicking off its initial public offering (IPO) process. Mirae Asset Securities is the lead underwriter, with Hana Securities serving as a co-underwriter. Founded in 201
• H.PIO stock bolstered by stock retire scheme SEOUL, August 24 (AJP) -South Korean health supplement maker H.PIO's shares rose Monday after the company announced plans to cancel all of its treasury shares. Its shares closed 2.64 percent higher at 2,135 won ($1.54) on the KOSDAQ. The KOSDAQ-listed company said its board approved the cancellation of 191,003 common shares, according to a regulatory filing Monday. The cancellation is scheduled for Sept. 11. The cancellation represents about 0.46 percent of its 41.29 million outstanding co

ASIA Insight

• Westinghouse stake report exposes US-Korea nuclear divide SEOUL, August 26 (AJP) - U.S. President Donald Trump has hardly been shy about expressing displeasure over the slow progress in Seoul's execution of its pledged $350 billion investment commitment, and the latest pressure involves the nuclear reactor business. Seoul has denied a report that Washington proposed jointly acquiring an equity stake in Westinghouse Electric, even as the Trump administration presses to draw Korean capital and construction muscle into a sweeping revival of American by Kim Dong-young
• Blame game grows as Korean 'ants' get burned in herd trading SEOUL, August 25 (AJP) - The blame first fell on the president, who encouraged households to put their money into stocks rather than leveraged housing bets. Then came the financial regulator, criticized for allowing high-risk exchange-traded funds built around South Korea's chip supremacy. The latest to take a seat in Korea’s blame-game musical chairs are so-called finfluencers, the self-styled investment experts whose stock tips, price targets and market predictions fill YouTube and by Ryu Yuna

AJP Watch

• Korean games chase first Gamescom win since 2022 SEOUL, August 25 (AJP) - South Korea heads into Gamescom 2026 with two award contenders and its biggest industry push in years, seeking to end a four-year trophy drought since Neowiz's "Lies of P" swept the show in 2022. Pearl Abyss's open-world action title "Crimson Desert" is nominated for Most Epic and Best PC Game, while "Age Twisters," a two-player adventure developed by Krafton subsidiary Piccolo Studio, is competing for Most Wholesome. The nominatio
• Blizzard rules out Korea-only balance patches for Overwatch BUSAN, August 23 (AJP) - Blizzard Entertainment will keep balancing Overwatch as a single global game rather than tailoring patches to Korea even under its new Nexon partnership, its game director said, even as Korean players keep pulling the shooter's meta in their own direction. "We typically don't try to balance the game differently per region," Aaron Keller said at a press conference at BEXCO, on the second and final day of Overwatch Day, the fan festival staged by Nexon.

AJP Focus

• Chip payouts may give Korean won more room to run SEOUL, August 26 (AJP) - South Korea's won, already near its strongest level in almost a year, has more upside room as Samsung Electronics and SK hynix are expected to dole out massive shareholder returns. The dollar influx, however, won't likely match the recent boost from SK hynix's $26.5 billion American depositary receipt issuance, traders say. The won has strengthened sharply in recent weeks as exporters increased dollar selling and SK hynix converted part of its ADR proceeds.
• Trump's nuclear realism tests Seoul's denuclearization line SEOUL, August 25 (AJP) - North Korea, according to U.S. President Donald Trump, is not Iran. Washington may have "obliterated" Iran's nuclear program, as Trump puts it, but Pyongyang already possesses what he describes as 57 "very powerful" nuclear weapons — an arsenal he appears more inclined to address through renewed diplomacy and his lingering personal rapport with Kim Jong Un. Trump's contrasting approaches to the two nuclear challenges pose a growing co