KOSPI surpasses 3,000 for first time since 2021

SEOUL, June 20 (AJP) - South Korea's benchmark stock index, KOSPI, closed above the 3,000-point mark on Friday for the first time in more than three years, signaling renewed investor confidence in the nation's economic outlook. The local currency also strengthe

Korean banks turn to AI to strengthen internal oversight

SEOUL, June 20 (AJP) - South Korean banks are increasingly deploying artificial intelligence to bolster internal control systems, aiming to prevent financial misconduct and tighten compliance oversight by minimizing human error and bias, according to industry officials on Friday. The

Concerns mount over South Korea's defense cost-sharing as US sets 'new standard'

SEOUL, June 20 (AJP) - Many Pundits here have begun to speculate about a possible renegotiation of South Korea's defense cost-sharing deal with Washington, after U.S. Defense Secretary Pete Hegseth said earlier this week that the U.S. has set a "new standard" for defense.