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  Asian markets stay low, KOSPI down nearly 3% but defense stocks fly SEOUL, March 3 (AJP) — Asian markets remained lower Tuesday as the region is expected to bear the collateral damage from the closure of the Strait of Hormuz responsible for 70 to 90 percent of fuel imports from the Middle East. The Seoul bourse was heavily volatile, with the KOSPI swinging between 6,180 and 6,040.60 amid a tug-of-war between retail buying and foreign selling. As of 11:10 a.m., the benchmark index was down 2.89 percent at 6,063.39. On the secondary bourse, t March 3, 2026
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  Middle East Crisis – NK condemns attack and likely recalibrate to wage own game SEOUL, March 03 (AJP) - If the U.S.-Israeli strikes that killed Ali Khamenei and the capture of Nicolás Maduro were meant to signal American reach, the leader most coldly calculating their implications would be Kim Jong-un. Pyongyang's Foreign Ministry on Tuesday condemned what it called "illegal aggression" and "hegemonic and gangster-like" behavior by Washington, according to the Korean Central News Agency. The rhetoric was familiar. The strategic March 3, 2026
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  Middle East Crisis: BOK to maintain 24/7 monitoring SEOUL, March 3 (AJP) - The Bank of Korea said on Tuesday it will maintain around‑the‑clock monitoring with its overseas offices and discuss potential fallout from the U.S. and Israeli airstrikes on Iran dubbed "Operation Epic Fury." In a meeting chaired by its chief Rhee Chang‑yong, officials discussed global developments since last Saturday's airstrikes, as well as potential volatility in financial markets. With the country's financial and foreign exchang March 3, 2026
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  Middle East Crisis: Seoul enters emergency mode, readies contingency plan SEOUL, March 03 (AJP) -South Korea postured itself to an emergency mode Tuesday, launching round-the-clock surveillance and readying financial support for exporters as it braces for protracted conflicts in the Middle East and disruption in the fuel flow that could unsettle the economy heavily dependent on external demand and energy imports. Authorities moved swiftly as geopolitical tensions following U.S.-Israeli strikes on Iran rippled across global energy and financial markets, ra March 3, 2026
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  South Korea to offer support program for exporters hit by Middle East conflict SEOUL, March 3 (AJP) - The government will come up with support for small and mid‑sized exporters hit by the Middle East conflict following the U.S.‑led military action against Tehran dubbed "Operation Epic Fury" last week. According to the Financial Services Commission (FSC), a financial support program worth approximately 13.3 trillion won (around US$9.2 billion) will be provided to exporters affected by the conflict. The decision was made at a meeting chaired by FSC March 3, 2026
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  Middle East Crisis: Seoul stocks and currency open 2% lower on fuel jitters SEOUL, March 3 (AJP) — South Korean markets, returning from a long weekend, opened sharply lower Tuesday as investors moved to price in rapidly escalating tensions in the Middle East following U.S.-Israeli strikes on Iran and the growing risk of prolonged disruption to energy supplies. The benchmark KOSPI fell 2.60 percent at the open to 6,081.92, while the tech-heavy KOSDAQ dropped 2.57 percent to 1,162.17. The disruption of the Strait of Hormuz — which handles rou March 3, 2026
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  Trump 'won't rule out deploying US ground troops to Iran' SEOUL, March 3 (AJP) - The U.S. would not rule out sending ground troops into Iran "if they were necessary," U.S. President Donald Trump hinted amid an escalation of hostilities across the Middle East. In an interview with the New York Post on Monday, a day after the U.S.-led military action against Tehran dubbed "Operation Epic Fury," Trump said, "I don't have the yips with respect to boots on the ground — like every president says, 'There wil March 3, 2026
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  Seoul claims fuel stock enough to last more than 6 months SEOUL, March 03 (AJP) -South Korea moved to calm markets, saying it holds enough crude oil and petroleum products to last at least 208 days, as spiraling fighting in the Middle East escalated into a direct threat to global energy flows and tanker traffic through the Strait of Hormuz, a chokepoint responsible for around 70 percent of fuel imports for Asia's fourth-largest economy. With Iran declaring restrictions in the strategic waterway following U.S.-Israeli strikes and retali March 3, 2026
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  New nominees tapped to lead Budget and Oceans ministries SEOUL, March 2 - Nominees to fill two vacant ministerial posts were tapped as part of a minor cabinet reshuffle, Cheong Wa Dae said on Monday. In a press briefing in Seoul, Lee Kyu-yeon, the presidential senior secretary for public relations and communications, said that President Lee Jae Myung, currently on a trip to Singapore and the Philippines, has named veteran lawmaker Park Hong-keun and senior official Hwang Jong-woo to head the Ministry of Planning and Budget and the Min March 2, 2026
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  South Korea, Singapore agree to upgrade free trade deal SEOUL, March 2 (AJP) - The leaders of South Korea and Singapore agreed on Monday to begin negotiations to upgrade their free trade agreement, as part of efforts to strengthen cooperation between the two countries. The agreement was reached as South Korean President Lee Jae Myung, who arrived in Singapore the previous day, sat down for talks with Prime Minister Lawrence Wong for the first time in several months since they last met in Seoul in November. In a joint press statement March 2, 2026