• U.S.-Iran war nears formal end with June 19 signing SEOUL, June 15 (AJP) - The United States and Iran reached an agreement on Sunday to sign a peace deal on Friday aimed at ending a monthslong war that has killed thousands and rattled the global economy.
• US declares a peace deal with Iran "complete", reopening of Hormuz SEOUL, June 15 (AJP)-The United States and Iran have agreed to end their war and reopen the Strait of Hormuz, Pakistani Prime Minister Shehbaz Sharif and U.S. President Donald Trump announced Sunday, a breakthrough that would close a conflict running since late February and restore a waterway critical to global oil supply. An official signing is set for Friday in Switzerland. The precise terms were not immediately con
• Labor groups demand 12,000 won for next year's minimum wage SEOUL, June 15 (AJP) - Labor groups on Monday demanded that next year's minimum wage be raised to 12,000 won (about US$8), up 13.3 percent or 1,680 won from this year's 10,320 won per hour.
• SK's Chey, ex-wife Roh fail to reach settlement in billion-dollar divorce battle SEOUL, June 15 (AJP) - SK Group Chairman Chey Tae-won and his estranged wife Roh Soh-yeong failed to reach a settlement Monday in their closely watched billion-dollar divorce dispute, facing each other in court for the first time in more than two years. The Seoul High Court's family division held a second court-led mediation session at 2 p.m. as part of the remand trial ordered by the Supreme Court. Des
• Starbucks Korea staff to undergo history training after 'Tank Day' controversy SEOUL, June 15 (AJP) - All employees of Starbucks Korea including its operator Shinsegae Group as well as other staff at its affiliates will undergo training to raise awareness of history and enhance social responsibility, the retail giant said Monday. The training is scheduled for Wednesday at its facility Shinsegae Namsan in central Seoul, where all Starbucks staff are expected to attend. It will include lect
• Mirae Asset faces investor fury and probe after SpaceX IPO allocation failure SEOUL, June 15 (AJP) — South Korea's second-largest brokerage house Mirae Asset Securities is under fire after failing to secure any shares in the blockbuster initial public offering of SpaceX.

AJP Briefing

• Korean won, bonds rally on U.S.-Iran framework SEOUL, June 15 (AJP) - The South Korean won and government bonds strengthened Monday on signs of foreign return after a de facto resolution to the monthslong Iran crisis. The won closed at 1,511.1 per dollar in the Seoul foreign exchange market, down 8.7 won from the previous session. South Korean government bonds extended last week's rally. The yield on the three-year government bond fell 6.4 basis points to 3.744 percent, while the 10-year yield dropped 7.7 basis points to 4.118 percent
• KOSPI, Nikkei jump on US-Iran war deal; China lags SEOUL, June 15 (AJP) -South Korean and Japanese markets surged around 5 percent in early Monday session as uncertainties over energy shocks from the prolonged blockade of the Strait of Hormuz were lifted upon the news of a peace deal between the United States and Iran. The KOSPI rose 415.20 points to 8,538.82, up 5.1 percent, by mid-morning. Tokyo's Nikkei 225 jumped 5.3 percent to a year-to-date high, while Chinese markets lagged, the Shanghai Composite gaining 0.6 percent; in Seoul the
• Korea's main stock index jumps 5%, won sharply eases on Iran peace deal SEOUL, June 15 (AJP) -South Korean stocks roared at Monday's opening bell after the United States and Iran agreed to a ceasefire framework and announced plans to sign a permanent agreement later this week to guarantee toll-free passage through the Strait of Hormuz, reigniting a rally in the country's memory chip giants. The benchmark KOSPI surged 5.46 percent to 8,567.05 in early trading, comfortably outpacing the roughly 3 percent gain in Japan's Nikkei 225. Large-cap stocks did m
• South Korean president offers olive branch in Vatican despite Pyongyang's snub SEOUL, June 14 (AJP) -South Korean President Lee Jae Myung used a Vatican peace gathering on Sunday to renew his offer of dialogue and reconciliation with North Korea, insisting that the "ember of hope" for inter-Korean cooperation remains alive despite Pyongyang's continued refusal to engage with Seoul. Speaking at a special Mass for peace and solidarity at the Basilica of Saint Paul Outside the Walls in Rome, Lee framed his administration's North Korea policy as one rooted

ASIA Insight

• ASIA INSIGHT: End of 106-day war and beginning of new Middle East How US-Iran End of War Changes World Order June 15, 2026 is highly likely to be recorded as a turning point in modern Middle Eastern history. On this day, US President Donald Trump announced that negotiations to end the war between the United States and Iran had reached a final settlement, which was officially confirmed by the Iranian government and the mediating nation, Pakistan. Both sides are scheduled to sign a memorandum of understanding on the end of the war in Switzerland on the 19th. Th by Abe Kwak
• The four tigers are back, and AI is their new factory SEOUL, June 14 (AJP) -For two decades, Asia's economic hierarchy appeared settled. China was the factory of the world. Silicon Valley owned innovation. Europe consumed. Japan aged. And the original Four Asian Tigers — South Korea, Taiwan, Hong Kong and Singapore — were widely regarded as mature economies whose most consequential chapters were behind them. Then came artificial intelligence, and the entire map shifted. The greatest beneficiaries of the AI era are not, as many as by Seo Hye Seung

AJP Watch

• World Cup 26: Asia stays unbeaten, Africa makes early mark SEOUL, June 15 (AJP) - The opening week of the 2026 FIFA World Cup has delivered an early message: the gap between traditional soccer powers and emerging nations is narrowing. Teams from the Asia-Pacific region remain unbeaten, while several African sides have shown they can challenge higher-ranked opponents, suggesting the tournament may no longer be dominated exclusively by Europe and South America. Japan produced the biggest statement so far, fighting back twice to secure a 2-2 draw against
• Huang's Taiwan and Korea tour highlights supply chain at the heart of AI era SEOUL, June 14 (AJP) -Every great technological pivot has its symbolic journey. Columbus crossing the Atlantic opened the age of exploration. Deng Xiaoping's Southern Tour set the course of China's economic reform. Steve Jobs unveiling the iPhone launched the smartphone era. Nvidia's chief Jensen Huang's late-May to early-June 2026 sweep through Taiwan and South Korea may well be remembered as a similarly defining moment in the history of the AI industry. Much of the media co

AJP Focus

• After Hormuz relief, KOSPI's next target is developed-market status SEOUL, June 15 (AJP)-With the Gulf crisis moving toward resolution, South Korea's stock market faces next test: whether a chip-led rally can carry the KOSPI from one of the world's best-performing markets to a developed-market benchmark. Semiconductors can lift the index. They cannot, by themselves, make Korea a developed market. The KOSPI has surged 92.8 percent since end-2025, far outpacing Taiwan's 52.5 percent gain, Japan's 31.1 percent rise and the Dow's 6.5 percen
• SpaceX IPO fever meets Starlink's reality check in Asia SEOUL, June 12 (AJP) - SpaceX's record-shattering market debut is drawing fresh attention to Starlink, its satellite internet business, as investors look beyond rockets and Mars ambitions to identify the company's most important source of revenue. While SpaceX is best known for reusable rockets and the Starship program, analysts increasingly view Starlink as the company's financial engine. The low-Earth orbit satellite internet network has become SpaceX's largest business segmen