Journalist

Lee Hugh
  • i-dle becomes first K-pop girl band to host solo concert at Taipei Dome
    i-dle becomes first K-pop girl band to host solo concert at Taipei Dome SEOUL, March 09 (AJP) - Five-member K-pop girl band i-dle successfully drew more than 36,000 fans on March 7, at a concert held at Taipei Dome as part of its fourth world tour, its agency Cube Entertainment said Monday. The band, comprised of five members -- Miyeon, Minnie, Soyeon, Yuqi and Shuhua -- had their concert tickets sold out immediately after general ticket sales opened on Feb. 1. The upcoming Taipei concert follows the group's three-day concert performance at Taipei Arena during its 2024 world tour. Due to strong demand, limited-view seats for the March concert were also sold out, resulting in four consecutive sold-out shows. Cube Entertainment said the performance marked the first time a K-pop girl act had performed at Taipei Dome. The dome stadium is Taiwan's iconic indoor facility with a maximum capacity of 40,000 seats. Previously, K-pop boy band Super Junior and solo female artist Taeyeon held concerts at Taipei Dome last year. The group kick-started the concert with their latest release "Mono (Feat. skaiwater)." Throughout the concert, i-dle performed songs "Nxde," "LION," "Good Thing," "I Hate Being Sick," and the unreleased track "Crow," along with solo stages for individual members alongside a live band session. For the Taipei audiences, the band also performed "Girlfriend," which had not been included in Seoul concerts, and presented a special cover of "Wu Mian," a song by Taiwanese band Sodagreen. i-dle debuted in 2018 under Cube Entertainment and is known for hit songs such as "Tomboy," "Nxde" and "Queencard." Following the Taipei concert, the band will continue on with its tour at Impact Arena in Bangkok on March 21. 2026-03-09 15:30:29
  • Banks Vie for Seoul’s 55 Trillion Won Treasury Account as Shinhan Defends Lead
    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 account plus other special accounts) is 49.3579 trillion won, and its funds total 3.7715 trillion won, bringing the annual amount managed to 55.2493 trillion won — the largest among local governments nationwide. Shinhan Bank currently manages both Seoul’s primary and secondary treasury accounts. Woori Bank handled the Seoul treasury exclusively for 104 years, from the days of the Gyeongseong-bu treasury in 1915 through 2018, before losing the role to Shinhan. The designated bank can secure large volumes of low-cost deposits and related business opportunities, drawing interest from Shinhan, Woori and KB Kookmin Bank. Shinhan is expected to fight to retain the mandate, even if it requires offering a higher contribution, after making substantial investments during its eight years running the city treasury. The bank has promoted initiatives for Seoul residents, starting with support for small merchants through the “Ttaenggyeoyo” Seoul Delivery Plus program, and continuing with the opening of the Donghaeng Store “Jeongdam,” support for alleyway shopping-district merchant groups, and backing for the Seoul Plaza ice rink. Woori, long considered strong in institutional banking, is also expected to push hard to regain the Seoul treasury role. The bank is likely to argue it can create synergies because it holds 56% of district-level treasury accounts across Seoul’s 25 districts. KB Kookmin is seen as a potential dark horse. In Seoul’s evaluation criteria, citizen convenience — including branches and automated teller machines — accounts for 18 points out of 100. By number of branches in Seoul, KB Kookmin leads with 291, ahead of Woori’s 265 and Shinhan’s 250. Shinhan, however, has the most ATMs, with 1,552, topping KB Kookmin’s 1,439. With the weighting for deposit interest rates increased this year, KB Kookmin is also expected to be able to offer the highest rates, backed by its capital strength. Separately, a close contest is also expected in July for Incheon’s treasury mandate, which totals about 15 trillion won. Shinhan manages Incheon’s primary treasury account and NH NongHyup Bank manages the secondary account. Hana Bank, which is moving its holding company headquarters to Cheongna, is also expected to enter the race. The bank has built a record of community initiatives, including support for foreign residents, backing for Inha University Hospital and Asan Cheongna Hospital, and care programs for vulnerable groups. By number of branches in Incheon, Shinhan leads with 49, followed by KB Kookmin with 45, NongHyup with 39, Woori with 35 and Hana with 31. 2026-03-09 15:30:21
  • NH NongHyup Bank CEO Kang Tae-young visits AgTech firm Davio to discuss growth
    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 operates a “life-cycle value-up support system” for companies in the agri-food and AgTech sectors, providing assistance from the investment stage through growth and maturity. During a meeting with Davio CEO Park Ju-heum and other executives, Kang discussed the company’s progress since the investment, support through management consulting and network connections, plans to expand financial support such as loans and guarantees, and future growth strategies including an initial public offering. “Venture capital investment in K-food and AgTech is a key task to strengthen the future competitiveness of South Korean agriculture,” Kang said. “NongHyup Bank will be a reliable financial partner that supports the growth of innovative companies and helps drive industry development.” 2026-03-09 15:27:00
  • Arts Council Korea Wins Top Prize at U.S. LACP Vision Awards for Sustainability Report
    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 and overseas for two consecutive years. ARKO’s 2025 report won the grand prize in the nonprofit integrated report category at the LACP “2024/25 Vision Awards.” In the evaluation, which drew participation from more than 1,000 organizations worldwide, ARKO scored 99 out of 100. It received perfect scores in seven of eight categories, including first impression, cover design and message clarity. ARKO also won the Technical Achievement Award for report-writing quality. ARKO said its 2024 report won the grand prize in the sustainability management report category at the 23rd GSMA awards hosted by the Korea Management Certification Institute (KMR), marking the first such achievement in the culture and arts sector. It said the LACP win shows its ESG strategy and results meet global standards. The “2025 Sustainability Management Report” describes ARKO’s efforts on carbon neutrality practices, inclusive arts support and stronger transparent management, the organization said. ARKO Chairman Jeong Byeong-guk said, “Achieving results for two consecutive years, from our first published report to this global award, is a meaningful outcome that shows ARKO’s ESG management efforts have been recognized worldwide.” He added that ARKO will continue to make ESG management a core value in its operations in line with the government’s push to strengthen ESG management at public institutions. The full sustainability management report is available on the ARKO website. * This article has been translated by AI. 2026-03-09 15:21:15
  • Go grandmaster urges shift to AI collaboration decade after AlphaGo match
    Go grandmaster urges shift to AI collaboration decade after AlphaGo match SEOUL, March 9 (AJP) - Former South Korean Go grandmaster Lee Se-dol returned to the site of his historic 2016 match against AlphaGo on Monday to advocate for a new era of cooperation between humans and artificial intelligence. Speaking during a press conference held at the Four Seasons Hotel in Seoul, the same location where he faced the Google DeepMind program 10 years ago, Lee reflected on how the perception of AI has evolved from a competitive threat to a collaborative tool. The event was hosted by Enhans, a South Korean AI startup, as part of a campaign for the commercialization of agentic AI. According to the event organizers, the global showcase was also broadcast live in major international hubs including New York and Tokyo. Lee, who appeared in a suit similar to the one he wore during the 2016 matches, said that while many programs can now outperform humans at the game of Go, there is a distinct lack of AI specifically designed for educational purposes. He suggested that utilizing AI for instruction could significantly lower the barrier to entry for the complex strategy game. "Go is the only perfect abstract strategy game created by humanity, but its difficulty is both its strength and its weakness," Lee said. "Go is now in the realm of education, and it is no longer necessary to play as well as a professional." In March 2016, Lee faced AlphaGo in a five-game series that ended in a 4-1 victory for the machine. Despite the loss, Lee's victory in the fourth game remains the only time a human has defeated that version of the AlphaGo system in a formal setting. He famously retired from professional play in 2019, stating that AI had become an entity that could not be overcome. Information regarding the match history and his retirement was sourced from public news archives. Lee noted that the global situation has changed since he first sat across from the machine. He said that while the world previously viewed AI as an opponent, the current focus should be on working together to solve unsolvable problems and create new value. Addressing concerns about job security, Lee said he believes AI will transform the nature of work rather than lead to its disappearance. He described the current period as an early stage where technology will eventually present and create new opportunities for people. During the event, Lee participated in a demonstration using voice commands to direct an AI agent in building a Go game model. The demonstration was intended to show how human intent can guide AI to perform technical tasks. Lee, who currently serves as a professor at the Ulsan National Institute of Science and Technology, continues to explore the integration of technology in traditional sports and culture. His current academic role was confirmed through university appointment records. 2026-03-09 15:17:10
  • Why South Korean Banks Aren’t Raising Deposit Rates as Money Moves Into Stocks
    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 preferential terms were around 2.05%, pushing the lower end down further. Installment savings rates were also in the 2.60% to 3.40% range at their maximum levels. Banks typically respond to rapid fund outflows by raising rates on deposits and savings products. But with policy pressure to curb growth in household lending and external risks including the Middle East situation, increases in deposit and savings rates have remained limited. Raising deposit rates would increase banks’ funding costs and could add pressure for higher loan rates. With financial authorities trying to restrain household lending, banks are wary that greater volatility in loan rates could clash with that policy direction. Some banks are marketing products with high “maximum rates,” but the base rates are low or the top rates require meeting specific conditions. The approach is seen as a way to maintain competitiveness in attracting deposits without broadly lifting rates. Woori Bank’s “Dugeun Dugeun Haengun Savings,” launched last year, advertises a maximum annual rate of 12.50%, but its base rate is only 2.50%. The remaining interest is paid only if customers win a monthly drawing for a “luck card.” Shinhan Bank’s “One Month Savings (Weekly) X Hyundai Motor” offers a base annual rate of 1.80% and a maximum of 8.80% including partnership preferential rates, but customers must meet conditions such as confirming a Hyundai Motor purchase contract, designating a card payment account, or reaching required payment rounds. The same pattern applies to deposits. NH NongHyup Bank recently raised the one-year maximum rate on key time-deposit products — “NH All One e-Deposit” and “NH Waltz Rotating Deposit II” — into the 3% range. Other large banks are still keeping rates in the 2% range. Woori Bank raised the rate on its “WON Plus Deposit (12-month maturity)” last month, and KB Kookmin Bank and Hana Bank also made small increases, prompting expectations of broader competition. But aside from NH NongHyup Bank, no bank is offering a 3% rate. As banks’ rate moves remain muted, money has continued to flow into stocks. Even as volatility has increased due to the Middle East situation, some investors have treated the swings as a buying opportunity. As of the previous day, time deposits at the five major banks totaled 944.1025 trillion won, down 2.7872 trillion won from the end of last month. Demand deposits, often viewed as funds waiting to be invested, fell to 676.2610 trillion won from 684.8604 trillion won over the same period, a drop of 8.5993 trillion won. Market participants say deposit outflows could persist if the stock rally continues. Still, the financial sector also expects that if external uncertainty grows — including tensions in the Middle East — investors could shift back to bank deposits as a safer asset. A commercial bank official said, “With external volatility so high, including Middle East risks, the top priority is to manage funding costs in a stable way,” adding, “Rather than forcing deposit rates higher to chase market moves, banks are likely to proceed cautiously, considering overall soundness and profitability.”* This article has been translated by AI. 2026-03-09 15:06:00
  • South Korea Faces Must-Win vs Australia, Needs Big Margin to Reach WBC Quarterfinals
    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 fell 5-4 to Taiwan in the bottom of the 10th inning on March 8. South Korea is fourth in the group behind Japan (3-0), Australia (2-1) and Taiwan (2-2). To reach the quarterfinals in Miami, teams must finish in the top two. That leaves South Korea needing a win over Australia to have any chance. If South Korea beats Australia, South Korea, Australia and Taiwan would all finish 2-2. The tournament’s tiebreakers are head-to-head results, fewest runs allowed, fewest earned runs allowed, batting average and, if needed, a drawing of lots. In a three-way tie, head-to-head does not break the deadlock, so runs allowed becomes decisive. Only games among the tied teams count; results against Japan and the Czech Republic are excluded. South Korea allowed five runs in 10 innings against Taiwan. Taiwan has allowed seven runs in 18 innings against South Korea and Australia, while Australia posted a nine-inning shutout against Taiwan. For South Korea to finish ahead of both Australia and Taiwan, it needs to win a nine-inning game against Australia by at least five runs. Runs allowed also matter: If South Korea gives up three or more, it would trail Taiwan on runs allowed rate. That means South Korea must beat Australia by at least five runs while allowing two or fewer in a nine-inning game to advance to the quarterfinals. South Korea will start left-hander Son Ju-young of the LG Twins, with the team needing to keep runs to a minimum. Son pitched one scoreless inning in relief against Japan on March 7, allowing one hit. Son has performed well in big games, posting a 2.45 ERA in five career KBO postseason appearances. Australia will start left-hander Lachlan Wells of LG. He pitched in South Korea last season as a replacement foreign player for the Kiwoom Heroes and joined LG this season under the league’s Asia quota.* This article has been translated by AI. 2026-03-09 15:00:43
  • K-pop girl band ITZYs Yuna to roll out solo debut album Ice Cream
    K-pop girl band ITZY's Yuna to roll out solo debut album 'Ice Cream' SEOUL, March 09 (AJP) - Yuna, the youngest member of the five-member K-pop girl band ITZY, will make her solo debut with album "Ice Cream," her agency JYP Entertainment said Monday. Ice Cream will consist of four tracks, including the title track of the same name. The album will be released at 6 p.m. (0900 GMT) on March 23 across major music streaming platforms. According to the tracklist released through the official social media accounts, the album will contain four songs: the title track Ice Cream, along with "B-Boy," "Blue Maze" and "Hyper Dream." The 22-year-old will be the second member of ITZY to launch a solo project following leader Yeji. She is the youngest member, widely known for her stage presence and performance skills since the group’s debut in 2019. A trailer for Yuna's upcoming album is ranked No. 2 on YouTube’s "worldwide music video trending chart," reflecting strong anticipation from fans ahead of the release. ITZY debuted in 2019 under JYP Entertainment with hit songs such as "Dalla Dalla," "Wannabe" and "Not Shy." The group drew attention early in its career after earning the nickname super rookies upon debut. The release of Ice Cream will mark Yuna’s first official solo project since her debut with the group. 2026-03-09 14:46:13
  • South Korea, Switzerland extend currency swap deal by another five years
    South Korea, Switzerland extend currency swap deal by another five years SEOUL, March 9 (AJP) - South Korea has agreed with Switzerland to extend their currency swap deal by five years, financial authorities here said on Monday. According to the Bank of Korea (BOK), the bilateral currency swap deal will now run until March 1, 2031, allowing the two countries to swap up to 10 billion Swiss francs or about 18.5 trillion won (US$12.4 billion). A currency swap allows one country to deposit its own currency in another country's reserves in return for the other country's currency in case of a liquidity shortage. South Korea and Switzerland first signed the deal in 2018 and extended it in 2021, with the latest renewal expected to further strengthen financial cooperation and support market stability. South Korea has similar deals with about 10 countries including Australia, Canada, China, Indonesia, Japan and Malaysia. "The renewal will bolster South Korea's foreign exchange reserves, given Switzerland's status as a key reserve-currency country, providing an additional safety net against potential financial crises," a BOK official said. 2026-03-09 14:36:54
  • HD Hyundai, ABS to Develop Nuclear-Linked Electric Propulsion for Zero-Carbon Ships
    HD Hyundai, ABS to Develop Nuclear-Linked Electric Propulsion for Zero-Carbon Ships HD Hyundai said Monday it has signed a joint development agreement with the American Bureau of Shipping, or ABS, to begin concept design of a nuclear-linked electric propulsion system, as it moves to secure next-generation zero-carbon ship technology. The signing ceremony was held at HD Hyundai Global R&D Center in Bundang, Gyeonggi Province, with Kwon Byeong-hun, head of the Electrification Center at HD Korea Shipbuilding & Offshore Engineering; Sim Hak-mu, head of the design division at HD Hyundai Samho; and ABS Far East Asia sales representative Matthew Muller in attendance. Under the agreement, the two sides will jointly work on a 16,000-TEU container ship, cooperating on basic design of the nuclear-linked electric propulsion system, selection of electrical equipment specifications, and layout design for power equipment. They plan to apply the characteristics of a small modular reactor, or SMR, capable of stably supplying up to 100 megawatts, and to assess the feasibility of using an SMR as a new ship power source. HD Hyundai said it will build a power management system tailored to large container ships that require long voyages and high-speed operation. It also plans to apply a twin-screw propeller system to improve propulsion and maneuverability. The company said it will adopt a direct-drive propulsion method that connects the motor directly to the propeller to minimize energy losses in power transmission and improve operating efficiency. It also said it will step up efforts to ensure safety related to nuclear power generation. Muller said the collaboration is “a very important project” to verify whether nuclear-based electric propulsion can be applied to large container ships, adding that the partners will combine HD Hyundai’s shipbuilding capabilities with ABS engineering expertise in maritime safety to comprehensively validate the safety, efficiency and environmental performance of next-generation propulsion solutions. Sim said nuclear-linked electric propulsion ships are “a groundbreaking and advanced technology” for achieving net zero, and could become a strong tool for HD Hyundai amid intense competition to lead the eco-friendly ship market.* This article has been translated by AI. 2026-03-09 14:33:16