Journalist
Lee Hugh
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KB Financial Chairman Yang Jong-hee Urges New Women Managers to Prioritize Communication in AI Era Yang Jong-hee, chairman of KB Financial Group, told newly appointed women branch managers that communication and empathy matter even more in the age of artificial intelligence, calling for inclusive leadership. KB Financial said Sunday that Yang attended a group conference on March 6 for newly appointed women branch managers. He said women leaders should take pride in being recognized for ability and performance, not gender, and stressed that finance is shifting beyond product sales to a role that supports a customer’s entire life. About 100 people, including Yang and the new managers, attended. The program included a “Talk with Seniors” session in which senior women executives answered questions and shared advice, followed by a “Talk with the Group CEO” session where Yang spoke directly with the new managers and heard feedback from the field. The event was held ahead of International Women’s Day. KB Financial said it is working to build a culture where women can develop their potential under its diversity strategy, “KB Diversity 2027.” A KB Financial official said the group is expanding its pipeline of women leaders and practicing diversity and inclusion across the organization, adding it will continue to support women’s growth and promote gender equality so employees from varied backgrounds can develop together. 2026-03-08 10:18:00 -
Doosan Chairman Park Jeongwon touts AI to lead future of construction equipment Doosan said Sunday that Chairman Park Jeongwon visited CONEXPO 2026, North America’s largest construction equipment exhibition, held in Las Vegas through Friday, continuing his on-site management push. CONEXPO 2026, held March 3-7 (local time) under the theme “Breaking New Ground,” highlighted AI-based automation and autonomy, electrified equipment and connected data solutions as key technologies for smarter job sites. Doosan Bobcat set up an exhibit in the West Hall of the Las Vegas Convention Center, showcasing about 30 advanced products including compact loaders and excavators featuring AI, electrification and autonomous technologies. It also unveiled a branding strategy that splits its core compact loader lineup into an entry-level “Classic” and a premium “Pro.” Park visited the Doosan Bobcat and Doosan Motrol booths and toured displays by global competitors, focusing on the commercialization of AI-driven productivity gains and unmanned technologies. The newly introduced “Pro” models offer higher power and speed than the “Classic” line. AI features include “Jobsite Companion,” which uses voice recognition to control more than 50 functions, and “Jobsite Awareness,” which detects nearby obstacles and people and automatically slows or stops. Doosan said its compact equipment is used for varied tasks on job sites where conditions change frequently, unlike heavy machinery used for repetitive work on large sites. Tailored to that environment, Jobsite Companion is designed to help less-experienced operators improve productivity by providing AI guidance comparable to that of skilled workers. The company said it plans to launch the technology this summer, and noted it was named a finalist for CONEXPO’s Next Level Awards. Park Jeongwon said, “As AI technology applied to construction equipment and job sites advances faster, the landscape of the construction equipment market — which used to place greater weight on hardware capabilities — is changing.” He added, “Based on Doosan Bobcat’s unrivaled data accumulated over many years, let’s deliver differentiated AI technology, present the future of construction equipment and lead the market.”* This article has been translated by AI. 2026-03-08 10:12:18 -
KB Kookmin Bank Cuts Saehuimang Holssi II Loan Rates by 1 Percentage Point KB Kookmin Bank said Sunday it cut the interest rate on new loans under its flagship low-income product, the “KB Saehuimang Holssi II,” by 1 percentage point on March 6 to ease interest burdens for financially vulnerable borrowers. The loan rate for the product fell to an annual 4.47% to 5.47% from 5.47% to 6.47%, based on the bank’s internal credit grade 3 and a loan term of at least five years. Customers who repay the “KB Saehuimang Holssi II” loan on schedule can also receive up to an additional 2.0 percentage points in rate reductions during the loan term. The rate is automatically reduced by 0.2 percentage point every six months if payments are made without delinquency. A bank official said the cut is intended to help reduce the burden on financially vulnerable people facing economic hardship, adding that the bank will continue to expand inclusive finance support so it can grow with the public and help build a better future. 2026-03-08 10:09:00 -
HD Hyundai Electric to Expand Alabama Transformer Plant With $200 Million Investment HD Hyundai Electric is moving ahead with an expansion of its North American manufacturing base. The company said Sunday it held a groundbreaking ceremony March 6 (local time) for a second factory at its North American unit, HD Hyundai Power Transformers USA, in Montgomery, Alabama. The new plant will be built on the existing site and cover 29,000 square meters (about 8,800 pyeong). It is scheduled for completion in April next year. HD Hyundai Electric plans to invest about $200 million to increase extra-high-voltage transformer production capacity by 50% and to install testing and production facilities for 765-kV transformers, as demand rises for U.S. extra-high-voltage transmission grid projects. The North American unit was established in 2011 as the first U.S.-based transformer manufacturing plant set up by a South Korean power equipment company, and it is the largest power transformer production facility in the United States, the company said. A company official said the North American operation has played a key role in strengthening HD Hyundai Electric’s position in the U.S. market. “By successfully completing this second factory and creating synergy with the expansion of our Ulsan plant, which is scheduled to be completed in September this year, we will further strengthen our leadership in the North American extra-high-voltage transformer market,” the official said. Attendees at the event included HD Hyundai Electric President Kim Young-gi; Lee Jun-ho, consul general of the Republic of Korea in Atlanta; Ellen McNair, Alabama secretary of commerce; Cornelius “CC” Calhoun, chairman of the Montgomery City Council; and representatives of key customers and partner companies.* This article has been translated by AI. 2026-03-08 09:51:17 -
Korean markets hardest hit among key markets in first week of Gulf SEOUL, March 08 (AJP) -South Korea’s financial markets absorbed one of the sharpest shocks among major economies during the first week of the Middle East war, with equities, the currency and bond yields swinging more violently than those of global peers as investors rushed to price in the country’s heavy dependence on Gulf energy supplies. Market data compiled by the Financial Supervisory Service show that Korean assets underperformed most major markets across multiple indicators — stocks, foreign capital flows, exchange rates and sovereign yields — highlighting how exposed the export-driven economy remains to disruptions in the Strait of Hormuz, the narrow waterway through which roughly one-fifth of the world’s oil shipments pass. The benchmark KOSPI fell 10.56 percent from the end of February to early March, the steepest decline among major global indices tracked by regulators. The secondary KOSDAQ lost 3.20 percent. Over the same period, Japan’s Nikkei 225 dropped about 5.49 percent, Taiwan’s TAIEX roughly 5.12 percent, while the Euro Stoxx 600 slipped around 4.48 percent. U.S. equities showed far milder reactions, with the S&P 500 down less than 1 percent over the same window. The scale of the decline reflects the structure of the Korean market, which is dominated by cyclical exporters such as semiconductor manufacturers, automakers and shipbuilders — sectors highly sensitive to global trade conditions and energy prices. Foreign investors accelerated their withdrawal from Korean equities as geopolitical risks mounted. Data show that overseas investors have sold a net 8.1 trillion won ($6 billion) in Korean stocks in March. On March 6 alone, foreigners dumped more than 2.4 trillion won of KOSPI shares, highlighting the speed with which global funds exit Korean assets during periods of uncertainty. The Korean won also emerged as one of the weakest and most volatile major currencies in the early phase of the crisis. According to Bank of Korea data, the average daily fluctuation in the won–dollar exchange rate reached 13.2 won in early March, the highest level of volatility since the panic of March 2020 during the COVID-19 pandemic. The currency weakened 2.6 percent against the dollar over the week, compared with a 1.04 percent decline in the Japanese yen, while the dollar index gained 1.75 percent over the same period. At one point in overnight trading, the exchange rate surged to 1,505.8 won per dollar, briefly breaching the psychologically important 1,500 level for the first time since the global financial crisis in 2009. Currency swings were particularly pronounced during overnight trading hours when market liquidity is thinner and official intervention is more limited, allowing relatively small orders to move prices sharply. The divergence with Japan has been notable. While the Japanese yen historically strengthened during global crises as a safe-haven asset, the current war shock has instead pushed the yen weaker to around ¥158 per dollar, its softest level in about six weeks. Analysts attribute the move to Japan’s own heavy dependence on imported oil and expectations of rising dollar demand for energy payments. Still, the won has weakened more sharply than the yen, reinforcing its reputation among global investors as a high-beta currency that tends to amplify swings in global risk sentiment. Bond markets also reflected rising stress. The yield on three-year Korean Treasury bonds climbed to 3.227 percent, while the 10-year yield rose to 3.616 percent, increases of nearly 20 basis points from late February, roughly in line with the rise in U.S. Treasury yields but far exceeding the 5.4 basis-point increase in Japan’s 10-year government bond. Corporate borrowing costs rose even faster, with yields on three-year AA-rated corporate bonds breaching 3.8 percent, indicating a widening risk premium in domestic credit markets. Underlying the turbulence is South Korea’s structural dependence on Middle Eastern energy. The country imports the vast majority of its crude oil from the region, much of it transported through the Strait of Hormuz. Any prolonged disruption to tanker traffic there could quickly feed through to domestic fuel prices, manufacturing costs, inflation and the trade balance. Japan faces a similar reliance on imported energy, but its markets proved more resilient during the initial shock. Analysts attribute the difference partly to the relatively larger role of domestic institutional investors in Japan and the yen’s residual reputation as a defensive asset. Oil prices have surged in tandem with the conflict. WTI crude jumped 20.87 percent from late February and 41 percent from the end of 2025, while Dubai crude gained 7.67 percent over the week and 26.6 percent from late December. Brent crude rose 17.84 percent in a week and 40.3 percent from the end of last year. The instability underscores how deeply South Korea is integrated into global capital flows and commodity markets. Korean assets are often treated as a liquid proxy for investor sentiment toward global growth and emerging markets — making them particularly vulnerable when geopolitical risks spike. For investors and policymakers alike, analysts say the trajectory of markets will ultimately hinge on a single variable: the duration of the conflict and whether oil shipments through the Strait of Hormuz return to normal. If disruptions persist and crude prices push toward $100 per barrel, the financial turbulence seen in the first week of the war could deepen into a broader economic shock — one that would be felt most acutely in energy-importing economies like Korea. 2026-03-08 08:12:15 -
Seoul fiddles with price controls as gasoline price near sensitive threshold SEOUL, March 08 (AJP) -South Korea is approaching a politically sensitive threshold as gasoline prices surge toward 2,000 won ($1.35) per liter, prompting the government to consider emergency price controls for the first time in decades amid a global oil shock triggered by the war involving Iran. President Lee Jae Myung has ordered an aggressive multi-agency response as international crude prices jump to multi-year highs and domestic fuel prices climb rapidly. According to the Korea National Oil Corporation’s Opinet system, the nationwide average gasoline price reached 1,890.87 won per liter late Friday, while prices in Seoul — traditionally the most expensive market — have already climbed to around 1,942 won, placing the psychologically important 2,000-won level within reach. The surge follows a sharp spike in global crude markets after the U.S.–Israeli strikes on Iran and the subsequent disruption to tanker traffic in the Strait of Hormuz, a shipping chokepoint that carries roughly one-fifth of global oil supply. Brent crude and U.S. benchmark West Texas Intermediate (WTI) have surged to around $90 a barrel, with some analysts warning that $100 oil is increasingly possible if the conflict persists. The rapid domestic price response has pushed the government to review a rarely used emergency measure — the designation of a maximum retail price for petroleum products under the Petroleum and Alternative Fuel Business Act. The policy would allow the industry ministry to set a ceiling on gasoline prices if extreme market volatility threatens economic stability. President Lee raised the possibility during an emergency Cabinet meeting on March 5. “There has been no serious disruption to fuel supply, yet prices at gas stations suddenly surged,” Lee said, instructing officials to examine price control measures. He later warned against what he described as “anti-social profiteering” exploiting the crisis. The government has since launched a broad enforcement campaign targeting price collusion, hoarding, illegal fuel distribution and adulterated petroleum products, while the Fair Trade Commission is reviewing possible anti-competitive behavior among gas stations. Facing growing political pressure, industry groups representing refiners, fuel distributors and gas station operators said they would cooperate with the government to slow the pace of price increases. But market forces have so far overwhelmed those efforts. Refining margins and international benchmark prices have climbed sharply as tanker movements out of the Persian Gulf slow and war-risk insurance costs surge. Energy analysts say the speed of domestic price transmission has been unusually fast during the current crisis, amplifying consumer anxiety. Implementing a price ceiling however may not be easy. The measure has not been used in practice since South Korea liberalized petroleum pricing in 1997, and economists warn that artificial price suppression could create unintended consequences. If prices are capped below market levels, refiners and retailers could cut supply or delay shipments, potentially triggering fuel shortages. The law also requires the government to compensate businesses for losses caused by price controls — a clause that could impose a substantial fiscal burden if high oil prices persist. For that reason, policymakers are also reviewing alternative options, including expanding fuel tax cuts and releasing strategic oil reserves, before deciding whether to activate the emergency mechanism. The fuel price surge in South Korea reflects a broader global shock. In the United States, the average gasoline price climbed to $3.41 per gallon, up 14 percent in a week, according to AAA data. The gains hinge on the duration of the conflict and the security of shipping routes through the Strait of Hormuz. For South Korea — which imports nearly all of its crude oil and relies heavily on Middle Eastern supply — the crisis represents one of the most direct economic spillovers from the war. 2026-03-08 07:36:34 -
South Korea Blows Late Lead, Loses 8-6 to Japan at WBC for 11th Straight Defeat South Korea’s baseball team again came up short against Japan. South Korea, managed by Ryu Ji-hyeon, lost 8-6 to Japan on March 7 at Tokyo Dome in its second game in Group C of the 2026 World Baseball Classic. After beating the Czech Republic 11-4 on March 5, South Korea fell to 1-1 and sat third in the group behind Japan and Australia, both 2-0. To reach the quarterfinals in Miami, South Korea must finish in the top two. The loss extended South Korea’s losing streak to Japan in official games to 11. South Korea has not beaten Japan since a 4-3 comeback win in the 2015 WBSC Premier12 semifinals. Pitching proved costly. Starter Ko Young-pyo (KT Wiz) did not complete three innings, allowing three home runs and four runs while striking out four in 2 2/3 innings. Reliever Cho Byung-hyun (SSG Landers) followed and gave up a solo homer, allowing one run in 1 1/3 innings. Control issues decided it. With the score tied 5-5, South Korea issued four walks and hit batters in the seventh inning. Park Young-hyun (KT) and Kim Young-gyu (NC Dinos) each allowed two walks as Japan pulled ahead. South Korea’s offense produced nine hits and scored six runs, its most against Japan since a 10-8 loss in the 2019 Premier12 super round. It also surpassed South Korea’s previous single-game high against Japan at the WBC. Lee Jung-hoo (San Francisco Giants) went 2 for 5 with an RBI and scored twice. Jermaine Jones (Detroit Tigers) went 2 for 5 and scored once. Kim Hye-seong (Los Angeles Dodgers) hit a game-tying two-run homer in the fourth and finished 1 for 4 with two RBIs and a run scored. Japan was led by Shohei Ohtani (Los Angeles Dodgers), who hit a tying home run in the third inning and went 2 for 2 with two walks, an RBI and three runs scored. He was named the game’s MVP. South Korea will play Taiwan at noon March 8 at the same venue in its third group game, needing a win to keep its quarterfinal hopes on track.* This article has been translated by AI. 2026-03-07 22:51:00 -
Jeon Mi-do Reacts as 'The King and the Man Who Lives' Tops 10 Million Moviegoers Actor Jeon Mi-do shared her thoughts after the film 'The King and the Man Who Lives' ("Wangsanam") surpassed 10 million admissions. Jeon wrote on social media on Friday, "I thought there was no happier moment than resting under the eaves with a cool breeze, away from the sun — but 10 million?" She added that she felt "truly happy and fulfilled" that the movie had made so many people feel "refreshed and warm," and said she was "sincerely grateful." The film is set against the Gyeyu Coup, which shook the Joseon Dynasty, and follows the deposed King Danjong, Yi Hong-wi (Park Ji-hoon), and Eom Heung-do (Yoo Hae-jin), the village chief of Gwangcheongol, as they spend time together in exile and form a bond. Jeon plays Maehwa, a court maid serving Danjong. The movie became the 34th Korean film to reach 10 million admissions on Thursday. It is the fourth historical film to do so, following 'The King and the Clown' (2005), 'Masquerade' (2012) and 'The Admiral: Roaring Currents' (2014). 2026-03-07 20:57:15 -
Ko Young-pyo Pulled After Back-to-Back Homers in South Korea-Japan WBC Game South Korea starter Ko Young-pyo was knocked out after surrendering home runs to Japan's Shohei Ohtani and Seiya Suzuki in the third inning. Ko started the 2026 World Baseball Classic Pool C second-round game between South Korea and Japan at Tokyo Dome on March 7. He allowed solo shots to Ohtani and Suzuki in the bottom of the third and was pulled. Ko issued a walk to Ohtani earlier, then gave up a two-run homer to Suzuki on a full count with one out and a runner on first. Ko went 2 2/3 innings with four strikeouts, allowing three hits and one walk for four runs. All three hits he allowed were home runs. Ko, of the KT Wiz, is known as a groundball pitcher. From 2021 to 2023, he won at least 10 games in three straight seasons, and posted ERAs in the 2.00s in 2021 and 2023.* This article has been translated by AI. 2026-03-07 20:54:00 -
Eom Ye-jin, Kim Han-seol Win Women’s Doubles at Korea Soft Tennis National Team Trials Eom Ye-jin of Mungyeong City Hall and Kim Han-seol of iM Bank won the women’s doubles title at the 2026 soft tennis national team trials. In the final on the last day of competition, held on the 7th at Palma Soft Tennis Stadium in Suncheon, South Jeolla Province, Eom and Kim beat Kim Yeon-hwa and Kim Yu-jin, both of Anseong City Hall, 5-3. In men’s doubles, Lee Hyeon-gwon and Park Jae-gyu, both of Eumseong County Hall, defeated Lee Ha-neul and Ryu Tae-woo, both of Suncheon City Hall, 5-3. The top three doubles teams from the trials and the top two finishers in singles will be selected for this year’s national team. Earlier, on the 2nd, Kim Jin-ung of Suwon City Hall and Hwang Jeong-mi of NongHyup Bank won the men’s and women’s singles titles at the 2026 trials. The athletes plan to enter the national training center in Jincheon, North Chungcheong Province, in mid-April. A final roster for this year’s Aichi-Nagoya Asian Games will be set through internal evaluation matches at the center.* This article has been translated by AI. 2026-03-07 20:15:00