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  Banks Vie for Seoul’s 55 Trillion Won Treasury Account as Shinhan Defends Lead Seoul’s selection of a bank to manage its treasury — a pool of funds totaling 55.2493 trillion won a year — is expected to trigger intensified competition among major commercial banks. According to the financial sector on Monday, the Seoul Metropolitan Government plans to post a bid notice for the city treasury as early as next month. With the review process expected to take about a week, the final operator is likely to be chosen within April. Seoul’s total budget this year (general acc March 9, 2026
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  Korea Drugmakers Warn Proposed Price Cuts Could Hit R&D; Rate Set to Be Key South Korea’s push to cut drug prices to reduce national health insurance spending is sharpening anxiety across the pharmaceutical industry. Companies say a government-driven cut could weaken incentives to invest in research and development for new medicines, and leave smaller firms weighing survival options. With the government and industry still far apart on how deep the cuts should be, attention is turning to upcoming talks at the Health Insurance Policy Deliberation Committee, kn March 9, 2026
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  South Korea watchdog to tighten checks on banks’ sales of high-risk products The Financial Supervisory Service said it will strengthen oversight of banks’ sales of complex, high-risk financial products and will deploy a separate financial consumer protection inspection team during regular examinations. The move is aimed at tightening controls on the sale of high-risk products at bank counters after a mis-selling scandal involving equity-linked securities tied to Hong Kong’s H Index. The FSS announced the plan on 9 at its “2026 banking sector financial supervisio March 9, 2026
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  Korean Film 'The Owner of the World' Invited to Beijing International Film Festival The film 'The Owner of the World' has been officially invited to the Panorama section of the 16th Beijing International Film Festival. According to the film’s representatives, it was selected for the Panorama lineup of the festival, which runs from April 16 to 25. Launched in 2011, the Beijing International Film Festival is one of China’s leading international film events, along with the Shanghai International Film Festival. The festival praised the film, saying it “densely portrays gir March 9, 2026
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  South Korea’s Cheongung-II Air Defense Missile Gains Combat Credibility in UAE Modern warfare is shifting toward unmanned systems such as drones and missiles, increasing the importance of missile-based air defenses. As conflicts increasingly begin with missile launches — a so-called “button war” — competition is intensifying to counter missiles with missiles. ◆Cheongung-II said to have intercepted Iranian missiles, proving capability in the Middle East Industry officials said Monday that South Korea’s Cheongung-II, a medium-range surface-to-air missile deployed in March 9, 2026
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  NH NongHyup Bank CEO Kang Tae-young visits AgTech firm Davio to discuss growth NH NongHyup Bank said on the 9th that CEO Kang Tae-young visited the headquarters of Davio, a spatial data and agricultural technology company, to review the growth of a firm backed by the bank’s agri-food fund and discuss ways to support it. Davio, founded in 2012, runs a smart agriculture monitoring business based on spatial data and artificial intelligence technology. The company is expanding its business areas with investment from NongHyup Bank’s agri-food fund. NongHyup Bank said it March 9, 2026
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  New Books: 'Venturenomics' Urges Shift From Real Estate to Startups in South Korea Venturenomics=By Kim Gi-yeong, Jium Media. The author says South Korea’s economy is confronting a “trilemma” of real estate dependence, a low birthrate and U.S.-China tensions, and argues the country must break through with innovation. He writes that “the Republic of Korea’s runway is rapidly getting shorter.” In startup terms, “runway” means how long cash reserves can sustain survival. Without innovation, he warns, the national “aircraft” could fail to take off. As what he calls the only March 9, 2026
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  Arts Council Korea Wins Top Prize at U.S. LACP Vision Awards for Sustainability Report Arts Council Korea (ARKO) said its sustainability reports have received top ratings from recognized evaluators at home and abroad, underscoring its ESG management capabilities. ARKO said Monday it won a domestic Global Standard Management Award (GSMA) for its first-ever “2024 Sustainability Management Report,” and then took the top prize for its “2025 Sustainability Management Report” at the U.S.-based LACP Vision Awards. The organization said it has now won major awards in Korea March 9, 2026
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  Why South Korean Banks Aren’t Raising Deposit Rates as Money Moves Into Stocks South Korean banks are facing a growing dilemma. As a strong stock market pulls money out of bank accounts, lenders are still reluctant to raise deposit rates, constrained by the government’s household-loan management stance and heightened uncertainty tied to the Middle East. According to the Korea Federation of Banks on March 9, deposit rates at the five major commercial banks — KB Kookmin, Shinhan, Hana, Woori and NH NongHyup — stood at about 2.60% to 3.05%. Base rates excluding pref March 9, 2026
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  South Korea Faces Must-Win vs Australia, Needs Big Margin to Reach WBC Quarterfinals South Korea’s national baseball team is on the brink of a fourth straight World Baseball Classic group-stage exit and must win its finale against Australia before turning to tiebreaker math. Even a victory may not be enough. Manager Ryu Ji-hyun’s team plays Australia at 7 p.m. on March 9 at the Tokyo Dome in Tokyo in its fourth Pool C game of the 2026 WBC. South Korea is 1-2 in pool play. It opened with an 11-4 win over the Czech Republic on March 5, then lost 8-6 to Japan on March 7 and March 9, 2026