• Oil jumps to nearly 6-month high, reviving Korea's inflation risks SEOUL, October 24 (AJP) — Global oil prices surged to nearly six-month highs Friday as attacks on Saudi Arabia and mounting shipping risks around the Gulf deepened supply fears, adding fresh pressure to South Korea's inflation outlook. Brent crude futures settled at $116.72 a barrel, up $3.55, or 3.14 percent, their highest close since April 29.
• KEPCO bond cap revives Korea's electricity rate dilemma SEOUL, October 24 (AJP) — South Korea's long-running electricity rate debate is resurfacing as state utility Korea Electric Power Corp. (KEPCO) faces a looming borrowing limit that could constrain investment in the country's rapidly expanding power grid.
• Korea cuts red tape to speed chip fab construction SEOUL, October 24 (AJP) — South Korea plans to cut semiconductor industrial complex development times to within five years by fast-tracking permits, compensation and design, the government said Friday.
• Waiting becomes second nature for young 'pali pali' Koreans SEOUL, October 23 (AJP) - South Koreans are famously impatient, with a national ethos summed up by "pali pali," or "hurry, hurry."
• Apple's first foldable rekindles iPhone fever in South Korea SEOUL, October 23 (AJP) - Apple’s first foldable has finally arrived in South Korea, rekindling iPhone fans’ fading affection and drawing hundreds to stores to get their hands on the real thing — despite a price tag of more than 3 million won.
• Seoul mayor's acquittal puts presidential ambitions back in play SEOUL, October 23 (AJP) - Seoul Mayor Oh Se-hoon’s presidential ambitions gained fresh momentum Friday as an appeals court overturned a political funding conviction that had threatened to cut short his tenure and remove a potential standard-bearer for South Korea’s conservative opposition.

AJP Briefing>

• KOSPI edges up as SK hynix scraps Solidigm IPO plans SEOUL, October 23 (AJP) - South Korea's benchmark Korea Composite Stock Price Index (KOSPI) recovered from an opening loss of 4.1 percent to close at its session high on Friday, after SK hynix shelved plans for a U.S. listing of its Solidigm unit. The main index in Seoul added 16.53 points or 0.3 percent to close at 5,550.30 points. SK hynix jumped 4.4 percent to 1,277,000 won (US$964), far ahead of Samsung Electronics, which edged up 0.5 percent to 215,500 won. Foreign investors sold a ne
• KOSPI sinks below 5,400 as Meta's AI spending fuels tech selloff SEOUL, October 23 (AJP) — South Korean stocks fell sharply at Friday's open, sending the benchmark KOSPI below 5,400 as concerns over the mounting costs of artificial intelligence (AI) investments triggered another selloff in semiconductor shares. The KOSPI stood at 5,353.48 as of 9:40 a.m., down 3.26 percent from previous close of 5,533.77. The index opened 2.36 percent lower at 5,403.17 before extending its decline. The junior KOSDAQ dropped 3.45 percent to 737.76, extending losse

AJP ScaleUP

• Regenerative medicine firm soars above IPO price on KOSDAQ debut SEOUL, October 22 (AJP) - Regenerative medicine firm MS Bio more than doubled from its initial public offering (IPO) price on its KOSDAQ debut Thursday before paring gains later in the day. The stock climbed as high as 19,650 won (US$14.81), about 2.5 times its IPO price of 7,800 won. It was trading at 12,920 won as of around 5 p.m. in after-hours trading, up 65.64 percent from the offering price. The firm priced its shares at the top of its proposed range of 6,800 won to 7,800 won after insti
• LS ELECTRIC shares fall despite major deal for US data center project SEOUL, October 19 (AJP) - Shares of South Korean power equipment maker LS ELECTRIC fell more than 4 percent in early trading on Monday amid broader concerns over a potential artificial intelligence (AI)-related investment bust, despite securing a 168.9 billion won (US$125.2 million) contract to supply electrical equipment for a U.S. data center project in 2027. The stock fell as low as 150,000 won before recovering to 158,800 won as of around 9:50 a.m. LS ELECTRIC will supply switchgear to its

ASIA Insight

• AI halo may warm South Korean economy longer than expected SEOUL, October 23 (AJP) — The extraordinary AI windfall may be strong enough to lift South Korea’s long-term growth potential, suggesting the AI halo over Asia’s fourth-largest economy could be broader and longer-lasting than previously expected. Bank of Korea Governor Shin Hyun-song on Friday suggested the economy could be at an inflection point as the central bank prepares to reassess its underlying growth capacity. “I think this is a very important turning point,&rdq by Kim Yeon-jae
• Korean chip bonuses spill over to competition SEOUL, October 22 (AJP) - Chipmakers in South Korea and Taiwan keep a civil distance despite cutthroat competition to advance chip technology and recruit talent. But the extraordinary AI chip windfall has turned heads in Taiwan’s cleanrooms as workers watch their Korean counterparts collect lavish rewards from the industry’s newfound riches. Union officials at U.S. memory chipmaker Micron Technology’s Taoyuan operation began a 24-hour warning strike Thursday, pressing for a p by Candice Kim

AJP Watch

• Can a president consult an AI oracle? SEOUL, October 23 (AJP) - ChatGPT and Claude vie for headlines and users with faster and smarter upgrades, but in South Korea Gemini suddenly came into focus as an AI sage after President Lee Jae Myung disclosed he had consulted the Google chatbot on a matter of state. Lee, an avid social media user, wrote earlier this week that he had asked Gemini whether the heads of new prosecutorial and investigative agencies should attend weekly Cabinet meetings. He shared what he described as Gemini&rsqu
• Call of Duty's fictional Korean war hits close to home SEOUL, October 22 (AJP) - North Korea’s preparations to resume propaganda broadcasts and its recent missile tests have renewed tensions on the Korean Peninsula, alongside accusations that it planted a border mine that wounded three South Korean soldiers. For South Koreans watching the destruction in Ukraine and the Middle East, the prospect of similar devastation reaching their own streets carries a particular dread. For those who survived the 1950–53 Korean War, it also carries mem

AJP Focus

• Korean stocks look cheap, but are they a good buy? SEOUL, October 23 (AJP) — South Korean stocks have moved back to the bargain corner after dominating the top shelf in the first half, but investors remain unconvinced they offer good value. The October crash has prompted the president to complain that Korean equities are too undervalued Korean equities. Investors, however, remain wary of how much the country’s chip earnings will be worth if global AI spending subsides. South Korea’s 12-month forward price-to-earnings ratio (P
• BOK chief's inflation outlook hints rates unlikely to come down before '28 SEOUL, October 22 (AJP) - Bank of Korea Governor Shin Hyun-song on Thursday credited the board’s two successive summer rate hikes with helping cool inflation and steady currency and debt markets while signaling that rates won't likely come down before 2028. Speaking after the monetary policy board unanimously held the base rate at 3.00 percent, Shin described the pause as the payoff from acting early. The BOK raised rates by a quarter percentage point in both July and August after ho