Journalist
Lee Hugh
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KakaoBank to Lead App Development for Thailand’s BankX Virtual Bank, Set Up New Base in Mongolia KakaoBank will lead overall development of the mobile app for Thailand’s virtual bank BankX, which is set to begin operations in the first half of next year. The company is also accelerating its overseas push by choosing Mongolia as a new base in Southeast Asia. It also plans to flesh out an “AI-native bank” strategy built around hyper-personalized AI services. KakaoBank CEO Yun Ho-young outlined the plan at a news conference Tuesday at a hotel in Seoul’s Yeouido district. “Using AI technology, we will provide a financial secretary optimized for everyone, and expand our stage worldwide to write the history of financial innovation,” Yun said. KakaoBank is currently working with Indonesia’s Superbank to apply its digital banking operating know-how locally. Superbank listed on the Indonesia Stock Exchange late last year and has become the country’s top digital bank by market capitalization. In Thailand, KakaoBank is preparing to launch virtual bank operations in the first half of next year through BankX, a joint venture set up with the SCBX Group. KakaoBank plans to bring to Thailand signature products that have succeeded at home, including its “26-week savings” and “group account” offerings. It said it will directly lead mobile app development, aiming to export its capability to build a digital banking platform rather than provide advice alone. KakaoBank also selected Mongolia as a new overseas base. Working with local financial institutions, it plans to share know-how behind its credit scoring system, “KakaoBank Score,” which uses nonfinancial data to assess creditworthiness. The company also presented an AI-based roadmap for its app. In the second quarter, it plans to add an in-app “investment” tab to help customers compare and invest in a range of financial products using AI. In the third quarter, it plans to apply AI to its “payments home” feature and roll out a “personalized spending management service” that proactively suggests ways to manage expenses based on customers’ payment data. KakaoBank said it also plans to enter the retirement pension market and expand into a “lifetime asset management” service spanning customers from their 20s and 30s to seniors. The goal is to evolve into a “financial secretary” platform that recommends needed services first, rather than simply offering more functions. “As a financial app adds more functions, customers face the ‘paradox of expansion,’ where it becomes harder to find what they need,” Yun said. “The future KakaoBank is pursuing is one where AI identifies and solves complex financial problems first.”* This article has been translated by AI. 2026-04-08 10:03:29 -
Toss Bank Issues 130,000 K-Pass Debit Cards in First Month Toss Bank said April 8 it has issued about 130,000 K-Pass debit cards in the month since the product launched. That works out to about three cards a minute, or roughly 4,100 a day. The K-Pass debit card was introduced to help ease public transit costs. In addition to standard refund benefits, it offers an extra 2,000 won in cash back when monthly public transit spending reaches at least 40,000 won. Customers can receive the benefit regardless of the prior month’s spending, as long as they meet the transit-spending threshold. Toss Bank attributed the early demand to the card’s benefit structure and a simplified user experience. The bank said K-Pass sign-up and card linking can be completed in the Toss app in one process, reducing steps for users. Among customers who received the debit card and linked it to K-Pass, about 94% registered through the Toss app, the bank said. By age group, people in their 20s accounted for the largest share at 42.6%. They were followed by those in their 30s and 40s at 14.2% each, people in their 50s at 12.2%, teens at 11.7% and those 60 and older at 5.1%. “The K-Pass debit card is designed so everyday travel turns into benefits,” a Toss Bank official said. The official said the bank believes customers responded positively to the straightforward benefits, the ease of use and a structure that also connects to the community.* This article has been translated by AI. 2026-04-08 09:45:00 -
KOSPI surges over 6%, USD-KRW falls under 1,500 on Hormuz reopening news SEOUL, April 8 (AJP) — South Korea’s benchmark KOSPI zoomed above 5,800 by flying 6 percent upon the opening bell Wednesday on expectations of the reopening of the Strait of Hormuz as a part of the ceasefire terms of the United States that Tehran reportedly accepted. The main index opened sharply higher, jumping 6.56 percent to 5,855.29, while the tech-heavy KOSDAQ rose 4.13 percent to 1,079.58. Japan’s Nikkei 225 also climbed more than 4 percent. A buy-side sidecar was triggered on the KOSPI 200 after the index surged past the 5 percent threshold. U.S. President Donald Trump said Tuesday (local time) he would suspend military operations against Iran for two weeks, writing on Truth Social: “I agree to suspend the bombing and attack of Iran for a period of two weeks. This will be a double-sided CEASEFIRE!” The decision, announced about 90 minutes before the deadline, is conditional on Iran ensuring the full and safe reopening of the Strait of Hormuz. The proposal — reportedly mediated by Pakistan — has been accepted by both sides, raising expectations for a broader agreement and easing concerns over oil supply disruptions. Improved risk sentiment lifted Asian markets, with Seoul leading gains on expectations of stabilizing energy prices and reduced geopolitical risk. Large-cap stocks rallied broadly. Samsung Electronics jumped 7.12 percent to 210,500 won, while SK hynix surged 8.95 percent to 998,000 won. Automakers and battery makers also advanced. Hyundai Motor rose 5.39 percent to 498,500 won, Kia gained 5.57 percent to 159,200 won, and LG Energy Solution added 2.57 percent to 419,000 won. Bio and industrial shares were higher, with Samsung Biologics up 4.35 percent to 1,655,000 won, Doosan Enerbility rising 5.06 percent to 99,700 won, and HD Hyundai Heavy Industries gaining 5.32 percent to 495,000 won. Financials led the rally. KB Financial Group jumped 7.91 percent to 158,300 won, Samsung Life Insurance rose 8.11 percent to 240,000 won, Shinhan Financial Group added 6.35 percent to 97,200 won, and Mirae Asset Securities climbed 8.13 percent to 66,500 won. Other major gainers included Samsung C&T, up 9.49 percent to 300,000 won; Celltrion, rising 5.32 percent to 204,000 won; Hanwha Ocean, advancing 6.20 percent to 128,400 won; Samsung SDI, up 3.07 percent to 470,500 won; and Hyundai Mobis, gaining 4.87 percent to 409,000 won. Hanwha Systems was the only major decliner, falling 2.34 percent to 1,501,000 won. The U.S dollar dropped nearly 20 won to 1,477.5, breaking below the 1,500 level. 2026-04-08 09:40:47 -
Singer Kim Jang-hoon Says In-Flight Smoking Incident Was 'Not Normal,' Admits Fault Singer Kim Jang-hoon has spoken about a past incident in which he smoked on an airplane. Kim appeared on the YouTube channel "Song Seung-hwan's Wonderful Life" on Monday. He said he was scheduled to perform in Paris, but his instrument did not arrive because of a delivery problem. He said he "made a scene" and threatened to sue, but the instrument still had not arrived by the next morning. Kim said he then suffered a panic attack, stayed up all night and took medication before passing out, and that the performance ended while he was unconscious, costing him credibility. He said he kept taking medication for panic disorder on the flight but could not calm down, and in anger took 30 sleeping pills at once. "I wasn't in a normal state," he said, adding that he became curious whether a real alarm would sound. Kim said he then smoked on the plane and an alarm went off. He said police were waiting when he got off the aircraft, and that when he asked whether he would be handcuffed, they told him it was not necessary and questioned him immediately. "No matter the reason, I said it was my fault," Kim said. "I decided I wouldn't make excuses." 2026-04-08 09:36:15 -
POSCO to directly hire 7,000 subcontractor workers in major labor overhaul SEOUL, April 08 (AJP) - POSCO has announced a sweeping plan to directly hire around 7,000 subcontractor workers at its steel mills, marking a significant move to address longstanding issues surrounding subcontracting structures in industrial workplaces. The steelmaker said Tuesday it has established a roadmap to directly employ subcontractor workers who support production operations at its Pohang and Gwangyang steel plants. The hiring will be carried out in phases. POSCO has traditionally operated under a subcontracting system as steel production requires 24-hour facility operation and involves significant variations in job functions. Under this structure, in-house employees and subcontractor workers have worked side by side on-site. However, the company has now decided to directly hire subcontractor workers engaged in support tasks closely related to production, representing a major shift in its labor structure. The move is also expected to resolve long-standing legal disputes over employment status that have persisted since 2011, as subcontracted workers filed lawsuits seeking recognition as POSCO employees. The company said the decision effectively brings an end to nearly 15 years of conflict. POSCO plans to conduct formal recruitment procedures for subcontractor workers who wish to join the company. The decision reflects the company’s intention to eliminate what is often referred to as the “outsourcing of risk” and fundamentally strengthen workplace safety management. A POSCO official said the direct hiring initiative would help innovate safety systems at industrial sites and strengthen future competitiveness in the steel industry based on a cooperative labor-management model. Industry sources said the decision was strongly driven by POSCO Group Chairman Jang In-hwa, who indicated the company would clarify its direction to avoid prolonged legal disputes. Representatives of subcontractor workers welcomed the decision, saying it would help ease internal conflicts caused by long-running lawsuits. They added that they would contribute to building a safer workplace as part of POSCO. The large-scale integration between POSCO and its subcontractors is being viewed as a new model for labor-management cooperation in the industrial sector, as well as an attempt to overcome challenges facing the steel industry through mutual growth. 2026-04-08 09:22:46 -
Lee congratulates Thai PM on reelection SEOUL, April 8 (AJP) - President Lee Jae Myung spoke by phone with Thai Prime Minister Anutin Charnvirakul on Wednesday to congratulate him on his reelection, Cheong Wa Dae said on Wednesday. The call, which was made the previous day, came after Anutin, who led the conservative Bhumjaithai Party to a landslide victory in Thailand's general election last February, was reelected as the country's prime minister on March 19. He became the first Thai prime minister to win a second term in 20 years, since former Prime Minister Thaksin Shinawatra. Anutin first took the post in September 2025. During their conversation, Lee said he expects that the two countries will work closely while expanding cooperation as uncertainty persists in global energy supply chains. He also pledged South Korea would remain a reliable partner for Thailand to pursue shared prosperity. In a post on X, formerly Twitter, Lee also said he hoped Thailand would remain stable and achieve its economic goals under Anutin's "outstanding leadership." Earlier in the day, presidential spokesperson Kang Yu-jung said in a written briefing that Lee and Anutin agreed to work together to reach an early agreement on a Comprehensive Economic Partnership Agreement (CEPA), a broad free trade pact that seeks to address trade issues beyond conventional tariff cuts. 2026-04-08 09:20:27 -
Korea Disability Arts Foundation to Open Exhibitions, Concert for Disability Day The Korea Disability Arts & Culture Center said Tuesday it will mark April 20, the Day of Persons with Disabilities, with a slate of exhibitions and a performance at three venues in Seoul: the I-eum Center in Daehangno, Modu Art Space and Modu Arts Theater. The programs are designed to present a broad look at disability arts across history and contemporary practice. At the I-eum Center, the special exhibition “History of Korean Disabled Artists — People Who Became a Path” will run from April 20 to May 10. The center said it is the country’s first archive-style exhibition to trace the lives and work of disabled artists from the Joseon Dynasty through the modern era and into the first generation. Built around 38 figures, it follows the historical development of disability arts using records and source materials. At Modu Art Space, the planned exhibition “The Art of Relationship: Willingly, Relentlessly, Leaning On” will open April 16. It approaches disability arts through relationships and collaboration, exploring creative possibilities that expand through close solidarity. Six artists and teams, including Kim Jin-woo, Dungji and Raumcon, will present works in formats such as painting, installation, performance and participatory programs. On April 20 at 7:30 p.m., Modu Arts Theater will host the commemorative performance “Modu’s Concert: Together, Spring.” The concert is a crossover stage rooted in Korean traditional music, featuring disabled artists and other performers in a program blending traditional and contemporary elements. Performers include gayageum player Seon Yeong-suk, piano byeongchang performer Choi Jun, pansori singer Heo Jeong, the samulnori group Ttamdtti, the Dream On dance company, Gyeonggi folk singer Lee Ji-won and the fusion gugak band Akdan Gwangchil. Gugak musician Oh Jeong-hae will serve as host. Chairwoman Bang Gwi-hee said the Day of Persons with Disabilities should be more than a commemoration and should serve as a chance to view disability arts anew within today’s culture. She said she hopes the events will connect disability arts with more audiences and provide a place to share its value.* This article has been translated by AI. 2026-04-08 09:18:18 -
BTS Places 10 Songs on Billboard Hot 100 for Second Straight Week With 'Arirang' BTS continued its global run with 10 songs on Billboard’s main singles chart, the Hot 100. According to Billboard’s latest charts released April 7, the title track “SWIM” from the group’s fifth full-length album, “ARIRANG,” ranked No. 2 on the April 11 Hot 100. Other album tracks also charted: “Body to Body” at No. 42, “Hooligan” at No. 64, “NORMAL” at No. 73, “FYA” at No. 74, “2.0” at No. 75, “Aliens” at No. 84, “Like Animals” at No. 90, “they don’t know bout us” at No. 94 and “Merry Go Round” at No. 96. The group also held strong on Billboard’s global charts. “SWIM” stayed No. 1 for a second straight week on both the Global 200 and Global Excl. U.S. charts. “Body to Body” ranked No. 2 on both charts, and all 13 vocal tracks from “ARIRANG” placed within the top 30 on Global Excl. U.S. and within the top 40 on the Global 200. BTS also led several major Billboard rankings this week, topping the Artist 100, Digital Song Sales, Top Album Sales and Billboard 200 charts. Its second consecutive week at No. 1 on the Billboard 200 was described as a first for a Korean artist. The group also ranked No. 1 on World Digital Song Sales, No. 2 on Streaming Songs, and No. 3 on Top Streaming Albums and Vinyl Albums. In Japan, “ARIRANG” remained popular on Oricon. In the latest Oricon chart released April 8, the album ranked No. 1 for a second straight week on the Weekly Streaming Ranking with about 8.55 million weekly plays. Oricon said it was the first time since November 2024’s “APT.” that an overseas artist had led the chart for two consecutive weeks. “ARIRANG” is BTS’ first new release in three years and nine months. The album is described as capturing universal emotions, while “SWIM” expresses a determination to keep moving forward through life’s hardships. RM took part broadly in writing the lyrics, reflecting what the group wants to say now.* This article has been translated by AI. 2026-04-08 08:27:50 -
UPDATE: Korea's C/A at record high, foreign invest dip steepest in Feb *Updated with additional information SEOUL, April 8 (AJP) — South Korea's current account surplus reached a historic monthly high in February, crossing the $20 billion mark for the first time since records began and will stay largely insulated from the Middle East-driven oil and dollar spike at least through March, the central bank said Wednesday. Bank of Korea (BOK) data showed the February current account posted a record $23.19 billion surplus, surpassing the previous high of $18.7 billion in December and extending the surplus streak to 34 consecutive months — the second-longest on record. Chip-led goods account drove the outperformance, logging a $23.36 billion surplus, up more than $8 billion from a month earlier and marking another record. The streak in goods surplus extended to 35 months. Exports remained the core engine. February outbound shipments reached $70.37 billion on a balance-of-payments basis, up 29.9 percent on year — an all-time high for the month. Semiconductor exports surged 157.9 percent to $25.26 billion, accounting for 37 percent of total exports, while IT devices including mobile phones jumped 67.8 percent. Shipbuilding exports also rebounded, rising 45.5 percent and snapping a four-month contraction streak. By contrast, autos and machinery remained soft. Passenger car exports fell 22.9 percent and auto parts dropped 24.4 percent, while machinery and precision instruments declined for another month. The BOK downplayed the weakness, citing fewer working days due to the Lunar New Year, noting that daily average exports still rose at a double-digit pace. "The fact that the Lunar New Year holiday fell in February this year reduced the number of working days," said Yoo Seong-wook, head of the BOK's financial statistics department. "On a daily average basis, exports actually increased by 14.6% year-on-year and 15.2% month-on-month." The services account remained in deficit for a 45th straight month, though the gap narrowed to $1.86 billion. Imports rose 7.5 percent on year to $51.93 billion, with energy demand firm. Gas imports increased 15.6 percent, coal 20.5 percent, and mineral imports 26.7 percent, reflecting both higher volumes and steady industrial demand. Despite the trade strength, the financial account showed clear strain. Foreign investment liabilities – foreign investment in Korea - fell by $11.94 billion, the steepest drop on record, with equity outflows hitting $132.7 billion — exceeding even the COVID-era selloff. The “Sell Korea” trend reflects a mix of factors, including concerns over an AI-driven semiconductor bubble and mounting geopolitical risks tied to the Middle East conflict. While debt securities, including bonds, saw an increase of $1.33 billion, the pace of growth slowed significantly from the $4.47 billion recorded in the previous month. Meanwhile, Korean residents’ overseas investment (portfolio assets) continued to rise, increasing by $8.64 billion, though this was a sharp decline from January’s $13.46 billion. The central bank expects the current account to remain resilient through March, as oil price increases have yet to fully feed into import costs and refined product exports provide a partial offset. Still, risks are building. With roughly 70 percent of Korea’s crude imports passing through the Strait of Hormuz, prolonged disruption could sharply raise energy import costs and weigh on the trade balance. The "Sell Korea" sentiment is expected to have worsened in March as the average exchange rate weakened from 1451 to 1,493 won per dollar - the fourth-weakest on record. Foreign investors sold 32 trillion won ($21.3 billion) on the benchmark KOSPI in March alone. The bond market also reflected this weakness, with 3-year and 10-year Treasury yields rising to 3.552 percent and 3.879 percent, respectively, - up 16.8 percentage points and 12.6 percentage points from the end of February. 2026-04-08 08:19:51 -
Actress Han Chae-a Shares Video Featuring Daughter and Recovering Dog Actress Han Chae-a has shown her daughter in a new YouTube video. A video titled 'Soonshim (our pet dog) we've been with for 14 years. We're still learning about her' was posted April 6 on Han's YouTube channel. In the video, Han said Soonsim has recently been unable to eat. She said a hospital visit found the dog's teeth were badly decayed and would need to be removed. "She used to get up at the slightest rustling sound, but now she can't even get up when I call her name right in front of her," Han added. Han said Soonsim gradually recovered after surgery and was shown looking energetic and enjoying a walk. The video also revealed Han's daughter, Cha Bom, who drew attention for her resemblance to her mother. Han married Cha Se-ssi, the youngest son of Cha Bum-kun, a former South Korea national soccer team head coach, in 2018. 2026-04-08 07:51:15