• South Korea, Japan agree to extend currency swap deal for another 3 years SEOUL, October 15 (AJP) - South Korea has agreed with Japan to extend their US$10 billion currency swap agreement for another three years, as the two neighboring countries seek to maintain a financial safety net and strengthen bilateral cooperation.
• South Korea's laser air defenses down all three drones in Army drill SEOUL, October 15 (AJP) -South Korea showcased its latest laser air-defense systems by intercepting all three drones deployed in an Army demonstration, Hanwha Systems said Thursday.
• Samsung takes AI push from Silicon Valley to Vietnam SEOUL, October 15 (AJP) - Samsung Electronics held separate events in the United States and Vietnam this week, showcasing AI-powered telecom technologies in Silicon Valley and smart appliances and cooling systems in Hanoi.
• Korea's M2 growth slows in rate-hike wake Aug SEOUL, October 15 (AJP) — South Korea's broad money growth slowed for a second month in August, while the monthly pace accelerated amid larger inflows of corporate funds into short-term deposits and trusts after the central bank hinted more tightening following back-to-back rate hikes.
• Korea's lending to household cools, firms rise amid tightening SEOUL, October 15 (AJP) — South Korean bank household lending barely grew in September under tightening cycle while lending to large firms surged as they rushed to secure funds for bond repayments and capital expenditure before borrowing rates went higher.
• Defense chair warns against security gaps in Gwangju relocation SEOUL, October 15 (AJP) - The head of South Korea's parliamentary defense committee warned Thursday that relocating a major military air base to make way for a massive semiconductor manufacturing complex must not compromise national security or military readiness.

AJP Briefing>

• KOSPI plunges over 7% as chip rout triggers trading halts SEOUL, October 15 (AJP) - South Korean stocks plunged more than 7 percent on Thursday, triggering circuit breakers in both the KOSPI and KOSDAQ. The benchmark KOSPI tumbled 7.57 percent to close at 5,554.22, marking its steepest decline since July 28. The index extended its losing streak to seven consecutive sessions, shedding 21 percent over the period. The selloff came as U.S. inflation concerns and renewed doubts about the profitability of artificial intelligence (AI)-led investment battere
• KOSPI retreats to April levels under 5,600 SEOUL, October 15 (AJP) -The rout in Seoul deepened Thursday as the KOSPI and smaller KOSDAQ both lost more than 7 percent intraday, sliding back to April levels amid relentless foreign selling. The mood was grim, with declining stocks overwhelming gainers 840 to 64 on the main board. As of 11:20 a.m., the KOSPI had clawed back to 5,605.10, down 6.75 percent after retreating to 5,534.24 earlier in the session. Chip bellwethers buckled under the selling pressure. SK hynix tumbled about 10 perce

AJP ScaleUP

• NH-Amundi points to security ETFs as AI agents spread SEOUL, October 14 (AJP) - Investor appetite for exchange-traded funds tied to AI infrastructure and cybersecurity is growing as agentic AI, which makes decisions and carries out tasks on its own, gains ground, NH-Amundi Asset Management said Wednesday. Frontier models arrived in quick succession last month, the South Korean asset manager said in its HANARO ETF Monthly Report. It cited OpenAI's GPT-6 Astra, Anthropic's Claude Opus 5.5 and Google DeepMind's Gemini 4 Argon, which brou
• Hot Stock: Hanmi shares reverse sharply after obesity drug approval SEOUL, October 08 (AJP) - Shares of Hanmi Pharm and its holding company Hanmi Science fell sharply in late-morning trading Thursday, reversing gains sparked by regulatory approval of Korea's first domestically developed GLP-1 obesity drug. Hanmi Science dropped 7.23 percent to 53,900 won after climbing as high as 68,200 won earlier in the session. The stock had surged 13.94 percent in after-hours trading Wednesday to 66,200 won following news of the approval. Hanmi Pharm fell 9.7 percent t

ASIA Insight

• South Korea can help close AI divide: World Bank VP SEOUL, October 15 (AJP) - South Korea’s digital expertise, manufacturing strength and rapid modernization make it well placed to help narrow a global wealth divide that artificial intelligence could deepen, a senior World Bank executive said. “What we call Big AI is an ecosystem dominated by just a handful of advanced countries — not even all advanced countries — and a small number of global corporations,” said Kim Sangbu, the World Bank Group’s vice presiden by Lee Jung-woo
• Ukraine war poses different stakes for South Korea, Japan SEOUL, October 14 (AJP) - The Russia-Ukraine war is nearing the five-year mark with little sign of an exit, with both sides expanding attacks on energy infrastructure and extending the war’s repercussions to draw East Asian countries closer to the epicenter. Japan has entered a defense deal with war-engaged Ukraine to purchase battlefield-tested Ukrainian interceptor drones. South Korea is equally engaged with Kyiv but in the opposite direction — a diplomatic spat triggered by Ukrai by Lee Jung-woo

AJP Watch

• Miss Gee Collection brings a vintage glow to timeless elegance SEOUL, October 15 (AJP) — The Seoul Arts Center added color offstage as Miss Gee Collection brought a softly faded vision of spring to its autumn grounds, reaffirming the enduring appeal of one of South Korea’s longest-running designer labels. For spring/summer 2027, founder Gee Chun-hee stayed close to the classical, feminine grace that has defined her work. The freshness came through color, texture and movement — familiar silhouettes seen in a gentler light. Pastels carried
• AI in the room poses new headache ahead of Korea's CSAT SEOUL, October 15 (AJP) - Artificial intelligence can now outperform humans on some academic tests, making it a dream stand-in for test-takers. A few have begun taking the risk — only to be caught because their high-tech helpers were too easy to spot. A proctor at the University of Seoul flagged an applicant's thick, oddly shaped frames during an Oct. 3 essay exam for early admission. They were smart glasses. The student was removed from the exam room, failed the test and was barred

AJP Focus

• Korean bonds join global safe-haven rally on equity rout SEOUL, October 15 (AJP) — An equity rout driven by concerns over AI overspending is steering investors toward government bonds in Seoul and other major markets despite stronger-than-expected U.S. inflation and the prospect of a prolonged monetary tightening cycle. The three-year Korean government bond yield closed Thursday 1.6 basis points lower at 3.867 percent, while the 10-year yield fell 6.8 basis points to 4.193 percent, its lowest since Aug. 5. The 20-year and 30-year yields droppe
• Will Sejong make the FSC a backseat driver in Korean finance? SEOUL, October 14 (AJP) - The Financial Services Commission (FSC) got its orders to move to Sejong on Tuesday. On Wednesday, it was running command in central Seoul against a hacking spree that has hit 16 financial companies, the kind of crisis that relocation will soon test. After second emergency response meeting held Wednesday at Government Complex Seoul, the FSC said intrusions had been confirmed across banks, savings banks, mutual finance, card and capital firms, peer-to-peer lenders and c