• Korean Air says no change to domestic flights despite oil price surge SEOUL, July 20 (AJP) - Korean Air said Monday it has made no changes to its domestic flight operations, even as oil prices surged on renewed concerns over disruptions to Middle East energy shipments.
• Gov't to provide additional disaster relief for flood-hit regions SEOUL, July 20 (AJP) - An additional 1.6 billion won (US$1.07 million) in emergency disaster relief funds will be provided to regions hit by last weekend's torrential rains, the Ministry of the Interior and Safety said on Monday.
• Samsung Biologics to buy PolyPeptide in record $2 billion deal SEOUL, July 20 (AJP) - Samsung Biologics announced it has agreed to acquire Switzerland's PolyPeptide Group, a specialist maker of peptide drugs, for about 2.7 trillion won ($1.81 billion), the biggest merger-and-acquisition deal in South Korea's pharmaceutical and biotech industry.
• Prolonged US-Iran war may boost Korean missile defense exports: report SEOUL, July 20 (AJP) - A prolonged war between the United States and Iran could create fresh export opportunities for South Korea’s missile defense systems, as Gulf countries face shrinking interceptor stockpiles and sustained Iranian missile attacks, a South Korean brokerage said Monday.
• Samchundang Pharm shares surge on hopes for diabetes generic SEOUL, July 20 (AJP) - KOSDAQ-listed drugmaker Samchundang Pharm saw its shares soar on Monday amid expectations that its diabetes drug would move a step closer to entering the U.S. pharmaceutical market.
• Korean films reach Ivory Coast cinemas in rare west African expansion SEOUL, July 20 (AJP) - Two South Korean films have entered commercial release in Ivory Coast, marking the first time Korean historical and horror films have received regular theatrical releases in the West African country, the South Korean Embassy in Abidjan said Monday.

AJP Briefing

• Won holds at 1,478 as strong dollar offsets BOK hike; bond yields climb SEOUL, July 20 (AJP) - The South Korean won ended nearly unchanged Monday as a strong dollar and renewed U.S.-Iran tensions offset support from the Bank of Korea’s interest-rate increase last week. Government bond yields rose as investors continued to price in the possibility of further monetary tightening. The won closed the daytime trading session at 1,478.4 per dollar, up 0.1 won from the previous session. The currency showed little reaction to the BOK’s decision Thursday to ra
• Blackstone buys Busan-based actuator maker Futronic SEOUL, July 20 (AJP) -Blackstone has bought a majority stake in South Korean actuator and motion-control technology company Futronic in a deal that values the Busan-based company at about 1 trillion won ($720 million), according to multiple local media outlets. The two companies are yet to announce the deal or disclose the financial terms. The investment is being made in partnership with Futronic founder and Chairman Ko Jin-ho, who will remain chairman and chief executive officer to lead the
• BOK to expand CBDC-linked deposit-token trial in Sept SEOUL, July 20 (AJP) - The Bank of Korea is preparing to begin the second phase of its deposit-token trial as early as September, expanding the experiment to peer-to-peer transfers, biometric authentication and government-fund disbursement. The central bank, the Financial Services Commission and the Financial Supervisory Service are building the required systems and completing regulatory procedures for the next phase of Project Hangang, according to financial industry sources. Under the projec
• Four in 10 Korean listed firms face weaker Q2 SEOUL, July 20 (AJP) —Nearly four out of 10 South Korean listed companies are expected to post weaker second-quarter earnings than previously anticipated as the economic fallout from the prolonged Middle East conflict spread across much of corporate Korea, with the windfall from the semiconductor and stock market rally largely confined to a handful of industries. According to financial data provider FnGuide, operating profit forecasts for the April-June quarter were revised lower for 94

ASIA Insight

• Reality check for Korea's Lee and Japan's Takaichi as their honeymoons end SEOUL, July 20 (AJP) - The chemistry between South Korean President Lee Jae Myung and Japanese Prime Minister Sanae Takaichi appeared immediate, culminating in an impromptu drumming performance during their January summit in Nara. They also had much in common. Both took office as agents of change after periods of political turmoil. Both entered government with approval ratings that would be enviable in almost any mature democracy. Both benefited from weakened opposition camps and presented the by Lee Jung-woo
• Türkiye's coup resisters carry wounds, no regrets SEOUL, July 20 (AJP) - Ten years after a faction of the Turkish military tried to seize power on the night of July 15, 2016, the civilians who poured into the streets to stop it still carry the marks of that night, in bone, in memory, and in the quiet routines of family life. Mehmet Emin Ertaş, a 47-year-old businessman, is missing the metatarsal bone in his right foot, taken by a bullet as he ran toward soldiers firing on the crowd. Elvan Alkılıç, a 36-year-old housewife, spent the nigh by Park Sae-jin

AJP Watch

• Bio, fashion IPOs seek to inject life into subdued KOSDAQ SEOUL, July 20 (AJP) — South Korea's KOSDAQ, which turned 30 this month but has fallen 14 percent this year while the KOSPI has surged more than 60 percent, will look to a handful of biotechnology and fashion IPOs this week to revive its subdued listing market. The listings come as the KOSDAQ's fundraising market remains sluggish. Only 25 companies debuted on the exchange in the first half, down from 37 a year earlier, while total IPO proceeds fell to 740 billion won ($534 million
• Rate gap with US narrows to lowest level as BOK signals more hikes SEOUL, July 16 (AJP) - The gap between South Korea and U.S. interest rates narrowed to 1 percentage point, the smallest since February 2023, after the Bank of Korea (BOK) on Thursday raised its benchmark rate by 0.25 percentage point to 2.75 percent. The central bank also indicated that further rate hikes may be needed to control inflation and manage financial risks. The rate gap could narrow further if the BOK continues tightening while the Federal Reserve holds rates steady, although its gove

AJP Focus

• Korea's Q2 GDP to slow from Q1 but on track for around 3% annual growth SEOUL, July 20 (AJP) - South Korea's economy is expected to have expanded at a slower pace in the second quarter after a surprisingly strong start to the year, but growth is still likely to remain robust enough to keep the economy on track for around 3 percent expansion in 2026. The Bank of Korea will release its preliminary second-quarter gross domestic product data on Thursday, providing the first official gauge of whether the country's semiconductor-led export boom has continued to o
• Former K-pop idols face tough job market once spotlight fades SEOUL, July 16 (AJP) - K-pop's global rise has drawn a steady stream of young people hoping to become idols. But rising to stardom is only part of the story. When groups disband or contracts expire, many former performers must enter a job market where years of training and stage experience do not fit neatly into a conventional resume. They also face a difficult employment climate. As of February 2026, South Korea's employment rate for people aged 15 to 29 stood at 43.3 percent, down for