Why South Korea’s Internet Banks Sat Out Bank of Korea’s ‘Project Hangang’ CBDC Test As the Bank of Korea moves ahead with the second phase of its central bank digital currency experiment, known as “Project Hangang,” attention is turning to why South Korea’s internet-only banks are not taking part. Industry officials cite weak profitability, high upfront costs and limited interoperability as key factors that reduced incentives to join. According to the financial sector on Thursday, the country’s three internet banks did not express an intention to participate in the seco March 19, 2026

POSCO, Hyundai Steel unions urge relief on power and carbon costs, warn of industry crisis "South Korea’s steel industry is standing on the edge of a cliff. This is not a simple downturn. It is a national industrial security emergency." Labor unions at POSCO and Hyundai Steel held a joint news conference March 19 at the National Assembly press center, urging the government to ease the burden of industrial electricity rates and carbon-related costs. The unions called for measures including relief on industrial power bills, improvements to the carbon emissions-permit sy March 19, 2026

Shinhan Leads Overseas Profit as KB Improves; Woori, Hana Slide Shinhan Bank and KB Kookmin Bank posted solid results across most overseas units, while Hana Bank and Woori Bank saw weaker performance as losses widened at key subsidiaries, the financial industry said. Results diverged sharply by market — including China, Europe and Southeast Asia — shaping winners and losers among the major lenders. According to the financial sector on the 19th, Shinhan’s 10 overseas subsidiaries posted a combined net profit of 586.9 billion won last year, the highes March 19, 2026

KAI Names Defense Expert Kim Jong-chul CEO, Pledges 'One Team' Push Korea Aerospace Industries, or KAI, said it held an inauguration ceremony Thursday at its headquarters in Sacheon, South Gyeongsang province, formally appointing Kim Jong-chul as its ninth CEO. His official term is three years. KAI described Kim, a 31st class graduate of the Air Force Academy, as a defense industry expert who has held key posts in the Air Force and the Defense Acquisition Program Administration. While working at the Defense Ministry, Kim conducted cost analyses for the KT March 19, 2026

Woori Bank to Offer 200 Billion Won in Online Credit Lines for Seoul Small Businesses Woori Bank said on March 19 it signed an agreement with the Seoul Metropolitan Government and the Seoul Credit Guarantee Foundation to support 200 billion won in guaranteed overdraft loans under the “Seoul-style Small Business Relief Account No. 3” program. The program is part of Seoul’s “Small Business Support Project.” It aims to quickly provide online overdraft credit lines of up to 10 million won to small business owners facing heavier operating burdens amid high interest rates and a March 19, 2026

Open Innovation Becomes Key Model Behind South Korea’s Homegrown Drug Development Open innovation is taking hold as a strategy to improve the efficiency of new drug development, as companies seek to share risk and speed commercialization in an industry that requires heavy spending and long timelines. Industry officials said March 19 that partnerships between pharmaceutical companies and biotech firms are expanding. Drugmakers can reduce research burdens by bringing in outside technology, while biotech startups gain funding and clinical development support. A leading e March 19, 2026

Study: Poor Gum Health May Raise Risk of Esophageal, Colorectal Cancer Periodontal disease is among South Korea’s most common conditions. National Health Insurance Service data show that, as of 2024, more than 19.5 million people received treatment for periodontal disease, with covered costs totaling about 2.3 trillion won. Against that backdrop, researchers presented findings suggesting that poorer gum health may be linked to a higher risk of certain cancers. Experts note that because the mouth is directly connected to the digestive tract, inflammation fro March 19, 2026

Val Kilmer to Appear in New Film Using AI a Year After His Death Actor Val Kilmer is set to return to the screen in a new film, recreated through artificial intelligence technology. On March 18 (local time), The Associated Press reported that Kilmer will appear via AI in the independent film “As Deep as the Grave,” due for release this year. The report said it comes a year after his death. According to AP, the film’s producers said Kilmer had signed on before he died, but health problems prevented him from taking part. After his death, his family appr March 19, 2026

Kim Yong-hwan Warns Current Turmoil Resembles 2008 Crisis as Uncertainty Grows Kim Yong-hwan, who has spent more than four decades on the front lines of South Korea’s financial sector, warned that today’s conditions resemble the 2008 global financial crisis. Kim, who served as senior deputy governor of the Financial Supervisory Service in 2008, was involved in the country’s response at the time. In a telephone interview with Aju Economy on the 19th, Kim said the collapse of subprime mortgages in 2008 has “only changed form,” now appearing as troubled private lending March 19, 2026

CRAVITY’s Hyeongjun Stars in ‘Kill the Romeo’ Interactive Short-Form Drama Trailer CRAVITY member Hyeongjun will star in Kitts’ first interactive short-form drama, “Kill the Romeo,” set to be released on the platform on the 27th. The series from global K-pop short-form platform Kitts is an interactive, multi-ending romantic comedy told in first person. It follows “me,” a top-tier assassin whose alter ego is a devoted fan, after a new target is assigned: the viewer’s favorite idol, “Hyeongjun.” The story begins when the A-list killer receives an order to eliminate him March 19, 2026