Journalist
Lee Hugh
=
-
Gasoline, Diesel Prices Top 1,800 Won Nationwide; Seoul Nears 1,900 Geopolitical tensions in the Middle East have increased volatility in global oil prices, and rising demand at the pump has pushed average gasoline and diesel prices at South Korean stations above 1,800 won per liter. According to the Korea National Oil Corp.’s Opinet price information system, the nationwide average gasoline price stood at 1,840.5 won per liter as of 7 p.m. on the 5th, up 63.0 won from the previous day. It was the first time the national average topped 1,800 won since Aug. 12, 2022, when it reached 1,805.9 won. Diesel rose more sharply. The nationwide average diesel price climbed 111.0 won in a day to 1,839.8 won per liter. Diesel last exceeded 1,800 won on Dec. 12, 2022, when it was 1,807.4 won. The recent rise in domestic fuel prices is widely attributed to heightened geopolitical tensions in the Middle East that have amplified swings in global crude prices. With concerns growing over potential supply disruptions, international crude prices have been trending higher, adding upward pressure to domestic petroleum product prices.* This article has been translated by AI. 2026-03-05 20:12:16 -
Toss Operator Viva Republica Weighs Korea Listing Alongside U.S. IPO Plans Viva Republica, the operator of the Toss financial platform, is reviewing a potential listing on South Korea’s stock market, industry sources said. According to the industry on the 5th, the company recently asked the Financial Supervisory Service for guidelines on preparing for a domestic listing, including how to apply for and be assigned a designated external auditor. Applying for a designated auditor refers to the process by which a company preparing to list undergoes a pre-IPO audit by an accounting firm appointed by financial authorities. A Viva Republica official said the company is "reviewing various scenarios for a successful listing." Viva Republica is also known to be preparing for a U.S. stock market listing. The company has begun preliminary consultations with the U.S. Securities and Exchange Commission for a local listing, and some observers say it could complete an initial public offering as early as this year.* This article has been translated by AI. 2026-03-05 18:03:00 -
KOSPI stages sharp rebound to lead Asian recovery SEOUL, March 05 (AJP) - Korean stocks led Asia’s rebound Thursday, with the benchmark KOSPI surging nearly 10 percent in a sharp reversal from the previous session’s record plunge, as bargain hunting and program buying drove a broad-based rally in heavyweight shares. The KOSPI closed at 5,583.9, up 490.4 points, or 9.6 percent, after swinging between an intraday low of 5,248.13 and a high of 5,715.3. Turnover reached 44.81 trillion won. The tech-heavy KOSDAQ outperformed, jumping 14.1 percent to 1,116.4. After a stunning flop on the previous two sessions, Korea marched far ahead of regional peers, with the KOSPI’s 9.6 percent gain dwarfing Japan’s Nikkei 225 rise of 1.9 percent and China’s Shanghai Composite advance of 0.6 percent. Buying was driven largely by retail investors on the main board, who snapped up 1.7964 trillion won ($1.23 billion) worth of shares on a net basis. Foreign investors, by contrast, sold 144.5 billion won, while institutions offloaded 1.7187 trillion won. On the KOSDAQ, the pattern flipped, with foreigners and institutions emerging as heavy buyers — purchasing 831.8 billion won and 741.5 billion won, respectively — as retail investors turned net sellers of 1.5528 trillion won. Large-cap leaders anchored the rebound. Samsung Electronics rose 11.3 percent to 191,600 won, while SK hynix gained 11 percent to 941,000 won, keeping semiconductors at the center of the rally. Hyundai Motor climbed 9.4 percent to 548,000 won, while LG Energy Solution added 6.9 percent to 371,500 won. Samsung Biologics jumped 8.6 percent to 1,647,000 won, and Hanwha Aerospace rose 4.4 percent to 1,381,000 won. Despite the strong finish, it was a roller-coaster ride. A buy-side sidecar was triggered shortly after the opening bell on both the KOSPI and KOSDAQ as program buying accelerated. Sidecars temporarily halt program-trading orders when index moves breach preset thresholds, a mechanism aimed at cooling abrupt swings. Elsewhere in the region, investors weighed policy signals out of China after Premier Li Qiang unveiled a 2026 growth target range of 4.5 to 5 percent at the opening of the National People’s Congress, stepping down from the “around 5 percent” goal maintained in recent years. China’s Shanghai Composite ended 0.6 percent higher, while Hong Kong’s Hang Seng rose 0.5 percent. Japan also joined the rebound. The Nikkei 225 gained 1.9 percent, with the index bouncing sharply in early trade as bargain hunting followed three sessions of losses tied to Middle East tensions. The Nikkei briefly climbed into the 56,600 range, recouping much of the previous day’s decline, while roughly 90 percent of stocks on the TSE Prime market traded higher. Semiconductor-linked and financial shares rebounded as well, with Advantest jumping about 7 percent at one point and Mitsubishi UFJ Financial Group rising around 5 percent. The Korean won which hovered near 1,480 came down to 1,460 range amid broad easing in the greenback and oil prices. The dollar was 1,469.40. 2026-03-05 17:54:12 -
Eugene Corp. launches AI training for executives to speed digital shift Eugene Corp. said Thursday it is strengthening employees’ ability to use artificial intelligence, aiming to accelerate digital transformation and “smart” management by training senior leaders. The company recently opened an “AI Intensive” course for executives and headquarters team leaders to build practical AI skills. The program runs in four sessions from Feb. 13 to March 13, focusing on helping leaders on the front lines of management use AI confidently as a strategic tool. Eugene Corp. said the course was designed to put into practice this year’s management direction of “strengthening AI capabilities,” highlighted in its New Year’s message. The company said it believes AI must move beyond a passing trend to become a core management tool, and that requires a shift in leaders’ mindset and stronger on-the-job skills. Earlier, Eugene Group Chairman Yu Kyung-sun said in the New Year’s address, “Our competitors are not companies in the same industry, but global firms changing the world with AI,” adding, “AI is the last and best opportunity that can instantly surpass all of our past achievements.” Eugene Corp. said it plans to use the training as a starting point to build a data-based decision-making system and to actively introduce AI from strategy development through execution, with the goal of boosting competitiveness across the organization. The curriculum is practice-oriented rather than theory-heavy. Participants worked on AI-based management strategy analysis, ways to build decision-making data, how to use AI simulations, and process automation techniques aimed at improving work efficiency. A company official said the program was designed to go beyond understanding AI principles and enable real workplace use. The official said Eugene Corp. will gradually expand AI courses companywide, starting with executive training, to embed an AI culture and spread data-driven decision-making. * This article has been translated by AI. 2026-03-05 17:36:19 -
Value-up index hit record highs in pre-war rally in Seoul SEOUL, Mar 05 (AJP) - The South Korean "Value-up Index", a specialized stock market benchmark launched by the Korea Exchange (KRX) as a centerpiece of the government-led corporate value-up program, reached an all-time high last month. The index was buoyed by a wave of share buybacks, cancellations, and enhanced shareholder return policies, alongside improving earnings across sectors including semiconductors, industrials, and finance. According to the "Monthly Corporate Value Enhancement Status" report released by the Korea Exchange (KRX) on Thursday, five new companies filed value-up disclosures in February. They were SeAH Steel Holdings from the KOSPI, and four Kosdaq-listed firms; Gold & S, Seoul Electronics & Telecom, JYP Entertainment, and i-SENS. While the initiative was initially led by large-cap KOSPI stocks, the trend is increasingly spreading to the Kosdaq market. To date, a total of 181 companies have filed value-up plans, comprising 132 from the KOSPI and 49 from the Kosdaq. On Feb. 26, the Value-up Index peaked at 2,836.31 points, representing a 185.9 percent surge since its inception on Sept. 30, 2024 (992.13 points). During the same period, the index’s performance outpaced the KOSPI—which also hit a record high of 6,307.27 points—by a margin of 42.7 percentage points. Capital has been flooding into Value-up related Exchange Traded Funds (ETFs). As of late February, the net assets of 13 listed Value-up ETFs reached 2.7 trillion won, a staggering 446.3 percent increase since their initial launch on Nov. 4, 2024. Both indices suffered sharp declines recently following the U.S. invasion of Iran and the blockade of the Strait of Hormuz. The KOSPI, which stood at the 6,300 level on Monday, plummeted by nearly 1,200 points (20 percent) over Tuesday and Wednesday, before rebounding 9.6 percent on Thursday to close at 5,583.90. The Value-up Index similarly dropped by over 500 points from Feb. 27 through Wednesday, before gaining 225 points (9.7 percent) on Thursday to finish at 2,532.38. Corporate efforts to enhance valuation are becoming increasingly tangible. Eleven firms, including JB Financial Group, Woori Financial Group, Meritz Financial Group, and INNOX Advanced Materials, have filed progress reports at least once a year since their initial disclosures. Meritz Financial Group, for one, has disclosed its progress eight times, providing quarterly updates since its first filing last July. Shareholder return policies are also expanding. Last month, KB Financial Group decided to buy back and cancel 600 billion won worth of its own shares. DB Insurance and Meritz Financial Group also announced plans to cancel shares worth 800 billion won and 700 billion won, respectively. The number of companies providing English-language disclosures for foreign investors has also been on the rise, increasing steadily from 74 in November last year to 82 last month. Under the revision of the Enforcement Decree of the Restriction of Special Taxation Act, which went into effect this February, high-dividend companies must file corporate value enhancement plans to satisfy tax incentive requirements. "We plan to support these companies through briefing sessions and one-on-one consulting to ensure smooth disclosure filings." the KRX stated. 2026-03-05 17:12:14 -
Fuel prices spike due to war in Middle East SEOUL, March 05 (AJP) - Gasoline and diesel prices at gas stations across South Korea on Thursday have increased sharply following airstrikes on Iran by the United States and Israel late last month. The nationwide average gasoline price has surpassed 1,800 won ($1.2) per liter for the first time in three years and seven months. It is the first time the national average has exceeded the 1,800-won mark since Aug. 12, 2022, when it reached 1,805.9 won. Diesel prices have also crossed the 1,800-won threshold. The nationwide average diesel price rose to 1,811.03 won per liter, up 82.26 won from the previous day. It marks the first time in about three years and three months that diesel prices have exceeded 1,800 won, since Dec. 12, 2022, when they stood at 1,807.38 won. 2026-03-05 17:10:50 -
CRAVITY’s Hyeongjun to Star in Interactive Short-Form Drama ‘Kill the Romeo,’ Due in March CRAVITY member Hyeongjun will make his acting debut as the lead in Kitts’ first interactive short-form drama, “Kill the Romeo,” set for release in March. The interactive, multi-ending romantic comedy begins when the narrator — a professional killer whose alter ego is a devoted fan — is assigned a new target: the narrator’s favorite idol. The story opens with an A-list assassin receiving a new mission, only to learn the target is the idol “Hyeongjun,” the person the assassin loves most. Shot in a first-person, interactive FMV (full motion video) format, the drama changes the character’s fate and ending depending on viewers’ choices. Hyeongjun appears as an idol character who shares his name, taking his first step into acting. In the drama, “Hyeongjun” is the center of a popular group and the assassin’s top idol — known for a warm, upbeat personality and a considerate, attentive side. At a fan-sign event, he learns he is the assassin’s target and is left in shock, with outcomes that vary based on the viewer’s decisions. Kitts is expanding its lineup with “Kill the Romeo,” following “Wind Up,” starring NCT’s Jeno and Jaemin, and “Jumpboy LIVE,” starring VERIVERY’s Kangmin. The company said it plans to strengthen competitiveness with premium short-form dramas and FMV content. The drama uses a first-person viewpoint to heighten immersion and builds multiple branching points tailored to the interactive format. Viewers step into the role of a killer torn between protecting or killing a favorite idol, with each decision directly affecting the story’s direction and ending. Production on “Kill the Romeo” has wrapped, and the project is now in postproduction, the company said.* This article has been translated by AI. 2026-03-05 17:09:09 -
War in Middle East echoes through Seoul SEOUL, March 05 (AJP) - The war unfolding across the Middle East may be thousands of miles away from Seoul, but its shockwaves are being felt sharply in the capital of South Korea. Rockets are flying across borders in the region with no sign of the conflict abating. On the far eastern edge of the globe, the repercussions are unfolding in diplomatic halls, financial markets and even gas stations across the South Korean capital. A Tale of Two Embassies At 10 a.m. Thursday, Iran’s ambassador stepped to the microphone inside the Iranian Embassy in Itaewon. “The attack is a clear violation of international law,” the ambassador said, unleashing a sharp denunciation of Israel and the United States. The briefing ran long. What had been scheduled as a short press conference stretched well past noon as journalists pressed for answers on Iran’s next move and the risk of a wider war. Yet even before the Iranian envoy finished speaking, another diplomatic confrontation was already unfolding across the city. At 11 a.m., Israel’s ambassador faced reporters at the HJ Business Center near Gwanghwamun. “We could no longer tolerate Iran’s nuclear threat,” he said, defending the strikes and accusing Tehran of destabilizing the region. Two ambassadors. Two narratives. On the same day, in the same city, each laying out opposing justifications for a war that shows little sign of diplomatic resolution. Markets Reeling, Government Scrambling While diplomats traded accusations, South Korean authorities were scrambling to contain financial turmoil triggered by the Middle East conflict. Emergency meetings stretched across government agencies after Seoul’s stock market suffered one of its steepest sell-offs in decades. President Lee Jae Myung ordered the immediate deployment of a 100 trillion won ($68 billion) market stabilization program, while instructing regulators to crack down on oil hoarding and price manipulation. The measures helped trigger a dramatic rebound. On Thursday, the KOSPI surged 9.63 percent, recovering much of the previous session’s historic drop of more than 12 percent. The tech-heavy KOSDAQ jumped about 14 percent, reversing an equally steep fall. The Korean won also stabilized slightly, with the dollar trading around 1,466 won after briefly approaching 1,480 the previous day. Oil Shock Reaches the Streets The ripple effects were not confined to financial markets. As global oil prices surged — with Brent crude rising above $81 a barrel — gas stations across Seoul began raising prices through the afternoon. South Korea imports more than 70 percent of its crude oil from the Middle East, making the country particularly vulnerable to disruptions in the Strait of Hormuz, the strategic shipping lane through which much of that oil passes. The spike in energy prices, combined with a weaker currency, threatens to push up import costs across the economy. A War 3,700 Miles Away — Felt at Home Analysts warn that if the conflict expands or disrupts energy flows through the Gulf, the economic impact could deepen quickly for Asia’s fourth-largest economy. For many Seoul residents, the geopolitical crisis came into focus not through diplomatic statements or market charts, but through everyday costs — the price displayed on a gas pump or the volatility flashing on a smartphone trading app. At the very moment the two ambassadors traded sharp accusations in Gwanghwamun and Itaewon, motorists across the city were watching fuel prices climb. A war more than 3,700 miles away had suddenly become impossible to ignore. 2026-03-05 17:06:02 -
Dozens of South Korean tourists return home after being stranded in Middle East SEOUL, March 5 (AJP) - Some 36 South Korean tourists returned home on Thursday after being stranded amid escalating tensions in the Middle East. The tourists, who were traveling on a package tour arranged by the country's largest travel agency Hana Tour, arrived at Incheon International Airport via Taipei at around 3:40 p.m. after being stuck in Dubai due to the United Arab Emirates (UAE)' closure of its airports following last week's U.S.-led airstrikes against Iran under the military operation of "Operation Epic Fury." Another 39 tourists are also expected to return home later in the day after boarding an alternative flight arranged by their travel agency Mode Tour. Some 330 South Korean tourists and visitors remain in Dubai, while those in other Middle Eastern cities, such as Cairo in Egypt and Amman in Jordan have reportedly returned without major disruptions. Meanwhile, government authorities here are continuing to assist South Korean nationals in the Middle East after about 140 nationals and embassy staff who had been staying in Iran and Israel were safely evacuated to neighboring countries like Egypt and Turkmenistan earlier this week. According to the Ministry of Foreign Affairs, about 20,000 South Korean nationals including some 4,000 short-term visitors, are currently in around a dozen Middle Eastern countries. 2026-03-05 17:05:43 -
BTS Comeback D-16: South Korea to launch anti-scalping system ahead of BTS comeback concert SEOUL, March 05 (AJP) - South Korean authorities are rolling out a dedicated counter-scalping system to protect fans ahead of the upcoming BTS comeback concert at Gwanghwamun Square on March 21. The Ministry of Culture, Sports and Tourism confirmed the plan following a surge in illegal ticket trading for the high-profile event. Choi Hwi-young, the Minister of Culture, Sports and Tourism, called ticket scalping a "chronic disease" during a press briefing on February 12. The minister said that the government is monitoring the situation with extra care because free events, like the "BTS The Comeback Live: ARIRANG" show, often see even more aggressive resale activity than paid concerts. The ministry is coordinating its response through a specialized subcommittee of the Popular Culture Exchange Committee. This group includes officials from the ministry and HYBE, the management agency for BTS. The culture minister noted that while the government has developed specific countermeasures, it will not reveal the technical details to prevent scalpers from finding ways to bypass the new safeguards. The concert is expected to draw a crowd of about 15,000 to the landmark civic square in Seoul. Although the tickets are free, concerns are high that prices on the black market could skyrocket. During the group’s 2022 concert held in the southern port city of Busan, tickets for the free show reportedly reached prices as high as 4 million won ($2,731). According to data from the Korea Creative Content Agency, suspected online scalping cases have skyrocketed from 6,237 in 2020 to more than 259,000 as of August 2025. Approximately 75 percent of the cases reported in 2024 involved music performances, with many scalpers using automated "macro" software to snatch up tickets the moment they are released. To combat this, the South Korean government passed amendments to the Public Performance Act on January 29. The new rules ban the use of macro programs for ticket purchases and allow the state to confiscate profits from illegal sales. Violators could face fines up to 50 times the amount of the original resale price, though the law will not be fully enforced until later this year. The crackdown also involves tax authorities, who recently identified 17 high-volume professional scalpers. These individuals, who included public-sector employees and business owners, allegedly moved more than 20 billion won worth of tickets through illegal channels. Minister Choi said the government will lead a public campaign to discourage ticket hoarding and illegal sales before the new legal penalties take full effect. He stated that the goal is to see a significant reduction in scalping during the busy autumn performance season. 2026-03-05 16:59:00