Journalist

Ryu Yuna
  • AI beginning to crowd out young Koreans from elite professions
    AI beginning to crowd out young Koreans from elite professions SEOUL, March 27 (AJP) – Jenny Kim, 23, a senior at Yonsei University, had thought finding a job would be secure once she entered a top Seoul university majoring in engineering, but many of her peers are now despondent. “There may not be much left to do in computer engineering,” she said, as artificial intelligence has already replaced much of the entry-level back-office corporate work. Sophomore Kim S.H., studying structural engineering, also said he and his peers are increasingly exploring career paths unrelated to their majors as the field is rapidly being reshaped by AI. College graduates in Korea now vie against AI in an already tight job market, with the average time to land a first job stretching to nearly nine months — the longest in 20 years, according to a recent survey as of May 2025. Even degrees from top universities or STEM majors no longer guarantee employment. “Many returning from military service delay graduation as long as possible to buy time to apply for jobs,” said J.W. Park, 29, a Yonsei graduate who landed a job 18 months after submitting nearly 100 applications. The employment ratio of Yonsei University graduates fell to 46.6 percent last year from 51 percent in 2024. AI is now cutting into hiring across South Korea’s traditionally secure professions, with entry-level roles shrinking in law, accounting and technology — forcing young graduates to compete not only with each other, but increasingly with machines. The strain is already visible in the labor market. Employment among those aged 25 to 29 fell to 2.346 million in February, the lowest for the month since 2017, while the employment rate slipped to 70.4 percent. Youth unemployment rose to 7.1 percent, with underemployment reaching 17.4 percent, the highest February level in three years. Losses have been concentrated in white-collar sectors. Employment in information and communications fell by 52,000 — the steepest drop since 2014 — while professional, scientific and technical services, including legal and accounting, declined by 29,000. Studies point to AI as a key driver. The Korea Employment Information Service found white-collar jobs more exposed to AI-driven displacement, identifying lawyers, accountants and journalists among the most at risk. A Bank of Korea report showed that of 211,000 youth jobs lost between July 2022 and July 2025, about 208,000 were in highly AI-exposed sectors such as programming. “AI can relatively easily replace routine tasks typically performed by less-experienced workers,” the central bank said. That shift is most visible at the bottom of the hiring ladder. “We received around 120 applications for just two positions,” said Rhee Jay Jun, managing director at Young & Jin Tax Consulting Corp. “Whether they stay depends on how well they can filter out AI errors,” he added, noting that junior roles are shifting from execution to verification. The pressure is compounded by a bottleneck in certification. Of 12,263 candidates who sat for this year’s CPA preliminary exam, only around 1,200 are expected to pass, and even fewer will secure the mandatory training positions required to qualify fully. Yet even as AI displaces routine work, its limits remain clear. In one tax appeal involving hundreds of billions of won, an AI system cited a non-existent Supreme Court ruling — a so-called “hallucination” — nearly leading to a flawed argument. “We have to fact-check everything again,” Rhee said. A similar tension is playing out in the legal sector, where AI is lowering barriers while intensifying competition. Nearly 90 percent of civil first-instance cases in 2024 involved at least one self-represented party, according to the Supreme Court of Korea, with generative AI increasingly used to draft complaints and briefs. At the same time, the number of registered lawyers has surged to 38,123, up 76 percent from 2016. “Giving the same materials to a junior associate and to Gemini, Gemini often does a better job,” said Kim Woong, managing partner at Namdang Law Firm. But within the legal profession, views diverge on how far AI will reshape hiring. Ko Eunyoung, a lawyer at Barun Law, said AI cannot replicate “practical experience” and “judgment,” stressing that strategic decision-making in complex cases remains firmly within the domain of human lawyers. She noted that large firms are better positioned to continue hiring. “Hiring a few junior lawyers is less financially burdensome for bigger firms,” she said, allowing them to maintain recruitment even as smaller firms scale back. Ko emphasized that legal work requires judgment at every stage of a case. While AI can assist with document review and analyzing opposing arguments, overall case management still depends on human experience, strategy and real-time decision-making. She also warned of longer-term risks. Reduced hiring at the junior level could weaken the profession’s pipeline, leaving fewer lawyers able to develop into mid-level practitioners. Academic experts share a similar view. “Because law is as much about persuasion and judgment as it is about raw information review and analysis, I am confident that it will survive this technological change,” said Brendan Ballou-Kelley of Stanford Law School, a former U.S. federal prosecutor. He cautioned, however, that AI remains less reliable in drafting briefs and should not replace judicial reasoning. Mark A. Lemley of Stanford Law School said AI adoption in U.S. legal practice has already expanded rapidly, with litigators using it to draft briefs and corporate lawyers to prepare contracts. But he warned of growing risks tied to AI errors. “We have seen over 800 cases in which lawyers have been caught filing briefs that use hallucinated citations,” he said. Experts say the broader question is no longer whether AI will reshape jobs — but how far it will go. Some warn that rapid AI adoption could deepen inequality and trigger economic disruption, as gains concentrate among those who control capital and technology, while others point to risks of overinvestment and asset bubbles. For young professionals in Korea, however, the disruption is already here and for jobseekers, the real task would be not just beating other candidates, but avoiding areas machines can do better. Business-major 21-year-old Gonhee says she would settle for any big-company job that won't be affected by AI. 2026-03-27 11:00:20
  • KOSPI slips on chip concerns as hopes for Middle East ceasefire lift Asian markets
    KOSPI slips on chip concerns as hopes for Middle East ceasefire lift Asian markets SEOUL, March 26 (AJP) - Asian markets mostly opened higher on Thursday amid growing hopes for a possible ceasefire in the Middle East. In contrast, South Korean stocks fell as semiconductor shares dropped over concerns that Google's "TurboQuant" could reduce demand for memory chips. Earlier investor sentiment improved as signs of possible talks between the U.S. and Iran lifted Wall Street overnight. The Dow Jones Industrial Average rose 0.66 percent to 46,429.49, the S&P 500 gained 0.54 percent to 6,591.90, and the tech-heavy Nasdaq Composite advanced 0.77 percent to 21,929.83. In Japan, the Nikkei 225 rose 0.66 percent to 54,114.46 in morning trading, reflecting gains on Wall Street. China's Shanghai Composite also gained 1.3 percent to 3,931.84 and Taiwan's TAIEX climbed 0.83 percent to 33,707.60. In Seoul, the benchmark KOSPI fell 1.41 percent to 5,562.60, while the junior KOSDAQ rose 0.58 percent to 1,166.28 shortly after the day's trading began. The decline was mainly driven by weakness in semiconductor stocks, as Google's TurboQuant algorithm sparked concerns that improved data efficiency could reduce demand for memory chips. Most major stocks traded lower, with Samsung Electronics falling 2.38 percent to 184,500 won, and SK Hynix dropping 2.91 percent to 966,000 won. Hyundai Motor declined 0.7 percent to 497,500 won, and LG Energy Solution slipped 1.02 percent to 390,000 won. But Samsung Biologics rose 0.76 percent to 1,597,000 won, and Hanwha Aerospace and Doosan Enerbility both gained 0.29 percent, to 1,404,000 won and 102,900 won, respectively. In the KOSDAQ, Samchundang Pharm rose 3.32 percent to 1,152,000 won, while Alteogen surged 11.16 percent to 398,500 won after a technology-licensing deal with global pharmaceutical company Biogen the previous day. Kolon TissueGene jumped 13.29 percent to 115,900 won, backed by optimism ahead of its final-stage, large-sale clinical trial for a knee osteoarthritis treatment. The won weakened to 1,504.60 per dollar from 1,499.70 in the prior session. 2026-03-26 11:10:44
  • South Koreas fertility nears 1.0 as births, marriages post double-digit gains
    South Korea's fertility nears 1.0 as births, marriages post double-digit gains SEOUL, March 25 (AJP) — South Korea’s notoriously low fertility rate gained a meaningful boost to 0.99 in January — the highest since monthly tracking began in 2024 — but questions remain over whether it can continue to hold near 1. According to the Ministry of Data and Statistics on Wednesday, the number of births in January reached 26,916, up 2,817, or 11.7 percent from a year earlier, marking the highest January figure in seven years. Marriages also continued to post similar-pace double-digit growth. The baby increase follows a 12.5 percent year-on-year rise recorded in January 2025, extending the upward trend in births into early 2026. The rebound also pushed up the total fertility rate — the average number of children a woman is expected to have over her lifetime — to near 1.0, a sharp jump from 0.74 in December. The figure compares with an annual average of 0.80 in 2025, 0.75 in 2024 and 0.72 in 2023. South Korea became the only OECD country with a fertility rate below 1 in 2022, when the figure first fell into the 0.7 range. Annual births also showed signs of recovery, rising to 254,500 last year from around 230,000 in the previous two years. Still, the sustainability of the rebound remains uncertain. The increase is partly attributed to the so-called “second echo boom,” as those born between 1991 and 1995 — the children of the second baby boom generation (1964–1974) — enter their prime marriage and childbearing years. This cohort, which recorded more than 700,000 births annually, has helped lift marriages, alongside the continued impact of government policies aimed at encouraging childbirth. Despite the uptick, the country still recorded a natural population decline of 5,539 in January, as deaths continued to outnumber births. Jeon Young-soo, a professor of international studies at Hanyang University, urged caution in interpreting the rebound, noting that demographic effects have played a major role. “The rise in fertility is not necessarily a sign that the overall birth environment has fundamentally improved,” Jeon said. “Because fertility is a ratio, changes in both the numerator and denominator matter — while births have increased by tens of thousands, the population base has declined more sharply.” He also pointed to a backlog of delayed marriages following the COVID-19 pandemic as a factor behind the recent increase in births. Jeon said the trend could continue for the next two to three years but warned against overinterpreting short-term gains. “This could be a temporary phase driven by demographic factors,” he said. “Rather than reacting to short-term fluctuations, policymakers should focus on long-term, structural strategies to improve the conditions surrounding marriage and childbirth.” A breakdown by age shows birth rates rose across all groups, led by women in their 30s — the core childbearing cohort. The birth rate for women aged 30–34 climbed to 90.9, up 8.7 from a year earlier, marking the largest increase. The rate for those aged 35–39 also rose sharply to 65.8, up 8.0. Among younger women, the rate for those aged 25–29 rose to 25.6, up 1.5, while rates for those aged 24 and under and 40 and above edged up to 2.4 and 5.1, respectively. On a monthly basis, births increased from 24,099 in January 2025, extending the early-year upward trend. Births rose across all regions except Sejong, indicating a broad-based rebound nationwide. By birth order, the share of first-born children increased by 1.4 percentage points from a year earlier, while the proportions of second-born and third-or-higher births each declined by 0.7 percentage points. Marriages, a leading indicator of births, also increased to 22,640 in January, up 2,489, or 12.4 percent from a year earlier, suggesting continued near-term momentum — though uncertainties remain over its durability. 2026-03-25 15:49:49
  • Asian markets open higher on US peace plan for Iran; KOSPI lifted by SK hynixs IPO filing
    Asian markets open higher on US peace plan for Iran; KOSPI lifted by SK hynix's IPO filing SEOUL, March 25 (AJP) - Asian markets opened higher on Wednesday after reports that the U.S. had sent a proposal to Iran to end the conflict in the Middle East, while Israel had reportedly proposed a one-month ceasefire. But amid continuing conflicting signals from Washington and Tehran, U.S. stocks closed lower the previous day, with the Dow Jones Industrial Average down 0.18 percent, while the S&P 500 and Nasdaq fell 0.37 percent and 0.84 percent, respectively, as earlier optimism for a possible end to the conflict faded. Among megacap tech stocks, Nvidia fell 0.25 percent and Amazon dropped 1.38 percent, while Tesla rose 0.57 percent and Apple edged up 0.06 percent. The Philadelphia Semiconductor Index rose 1.28 percent. In Japan, Nikkei 225 rose 2.54 percent to 53,581.99 in morning trade. The stock gains are supported by improving economic fundamentals as the island country emerges from decades of deflation. Corporate earnings have also been strong, with major listed firms expected to post record profits for a fifth consecutive year, supported by broad growth across semiconductors, services, and tourism. Hong Kong's Hang Seng Index also gained 0.87 percent to 25,280.52, China's Shanghai Composite rose 1.78 percent to 3,881.28 and Taiwan's TAIEX rose 3.22 percent to 33,661.02. In Seoul, the benchmark KOSPI rose 2.19 percent at the open, and the junior KOSDAQ gained 0.94 percent, before extending gains to trade up 3.18 percent to 5,730.30 and 3.23 percent at 1,157.49, respectively. SK hynix shares rose after the chipmaker said it had filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) the previous day, seeking a U.S. listing via American Depositary Receipts (ADRs), with plans to complete the listing within this year. ADRs allow foreign companies to trade their shares on U.S. exchanges, providing broader access to global investors. SK hynix shares were up 3.85 percent at 1,024,000 won in early morning trade. Major KOSPI heavyweights traded broadly higher, led by chipmakers and autos. Samsung Electronics rose 2.74 percent to 194,900 won, Hyundai Motor advanced 2.85 percent to 506,000 won, and Kia rose 2.28 percent to 161,500 won. LG Energy Solution edged up 0.38 percent to 394,000 won. SK Inc. rose 3.87 percent to 618,000 won, Samsung Biologics gained 3.10 percent to 1,595,000 won, and Hanwha Aerospace added 1.05 percent to 1,349,000 won. Doosan Enerbility climbed 1.35 percent to 101,450 won. KB Financial Group advanced 2.65 percent to 150,800 won, Shinhan Financial Group rose 3.67 percent to 93,300 won, Mirae Asset Securities jumped 5.56 percent to 64,500 won, and Samsung Life Insurance climbed 3.38 percent to 229,500 won. But HD Hyundai Heavy Industries fell 1.55 percent to 508,000 won, and Hanwha Ocean edged down 0.08 percent to 122,200 won. In the KOSDAQ, Samchundang Pharm surged 11.22 percent to 1,041,000 won, leading gains. The rebound followed a brief pullback in the previous session on profit-taking after a five-day winning streak last week. The won strengthened slightly to 1,493.70 per dollar from a previous close of 1,495.2. 2026-03-25 11:29:54
  • Asia advances on easing Middle East tensions and oil price drop
    Asia advances on easing Middle East tensions and oil price drop SEOUL, March 24 (AJP) — Asian markets found modest relief Tuesday on signals of a potential truce after U.S. President Donald Trump suspended his ultimatum over attacks on Iran’s power infrastructure, though gains were pared amid mixed signals from Tehran and Gulf states. Japanese stocks rose at the open on expectations of early de-escalation in the Middle East, with the Nikkei 225 rebounding after plunging more than 5 percent in the previous session on fears of prolonged oil supply disruptions. The index was up 1.42 percent at 52,249.45 in morning trade. Hong Kong’s Hang Seng Index gained 1.55 percent to 24,761.14, China’s Shanghai Composite rose 0.68 percent to 3,839.05, and Taiwan’s TAIEX added 0.58 percent to 32,913.26. Overnight on Wall Street, all three major indexes closed higher after Trump signaled a pause in potential military action against Iran and a resumption of negotiations, boosting hopes for near-term de-escalation. The Dow Jones Industrial Average rose 1.38 percent, while the S&P 500 and Nasdaq gained 1.15 percent and 1.38 percent, respectively. Oil prices also fell more than 10 percent, easing inflation concerns. In Seoul, the benchmark KOSPI rebounded sharply after the previous session’s steep decline. It rose 4.30 percent at the open before trimming gains to trade up 0.32 percent at 5,423.18 as of 10:53 a.m. The KOSDAQ added 0.34 percent to 1,100.63. Major KOSPI heavyweights traded mostly higher. Samsung Electronics rose 1.50 percent to 189,100 won, while SK hynix gained 2.79 percent to 959,000 won. Hyundai Motor advanced 1.55 percent to 492,500 won, and LG Energy Solution jumped 6.60 percent to 379,500 won. Samsung Biologics added 0.46 percent to 1,530,000 won, Hanwha Aerospace rose 3.29 percent to 1,320,000 won, and HD Hyundai Heavy Industries gained 1.79 percent to 511,000 won. Celltrion climbed 2.66 percent to 193,300 won, Hanwha Ocean gained 2.27 percent to 121,600 won, and Hyundai Mobis rose 2.76 percent to 391,500 won. Naver advanced 1.56 percent to 212,250 won, while Mirae Asset Securities edged up 0.48 percent to 62,200 won. KB Financial Group and Samsung C&T posted modest gains, and HD Hyundai Electric rose 0.11 percent to 914,000 won. Samsung Life Insurance was unchanged at 217,500 won. On the downside, Kia fell 2.72 percent to 157,300 won, marking the steepest decline among major stocks. Doosan Enerbility slipped 0.35 percent to 100,350 won, while Shinhan Financial Group edged down 0.67 percent to 89,300 won. On the KOSDAQ, market leadership has been shifting rapidly, with the top spot by market capitalization changing five times so far this year. Biotech stocks have recently emerged as a key driver. Samchundang Pharm rose 4.57 percent to 984,000 won, briefly becoming the largest KOSDAQ stock by market cap. Its share price has surged more than 300 percent so far this year. Leadership has rotated among battery and biotech names, including EcoPro BM, EcoPro, Alteogen and now Samchundang. Despite net foreign selling of 5.8 trillion won in Korean equities over the past week, investors continued to buy biotech stocks, with four biotech firms among the top 10 net purchases. Strong inflows into newly listed active ETFs on the KOSDAQ, heavily weighted toward biotech, have also supported the sector. Analysts say biotech could replace secondary batteries as the next market leader, though high volatility tied to clinical outcomes remains a key risk. The won strengthened slightly to 1,500.60 per dollar from the previous close of 1,517.6, reflecting a temporary easing of Middle East tensions. 2026-03-24 11:24:06
  • KOSPI jumps as Iran strike fears ease, oil prices tumble
    KOSPI jumps as Iran strike fears ease, oil prices tumble SEOUL, March 24 (AJP) — South Korea’s benchmark KOSPI opened sharply higher on Tuesday upon expectation of a potential truce. Seoul’s main index rose 4.39 percent to 5,643.00 at the open, while the KOSDAQ gained 3.47 percent to 1,135.00. Gains later pared to around 2 percent as conflicting remarks from Washington and Tehran over a possible truce tempered early optimism. U.S. President Donald Trump delayed a potential strike on Iran by five days and signaled openness to negotiations, raising hopes for early de-escalation. The rally was further supported by a sharp drop in oil prices and easing bond yields. West Texas Intermediate crude plunged 10.3 percent to the high-$80 range per barrel, while the U.S. 10-year Treasury yield slipped to around 4.34 percent. The decline in oil prices reflected expectations of diplomatic progress and a normalization of supply, though volatility driven by geopolitical headlines is likely to persist. Major KOSPI heavyweights moved broadly higher. Samsung Electronics rose 3.92 percent to 193,600 won, while SK hynix jumped 5.47 percent to 984,000 won. Hyundai Motor advanced 3.30 percent to 501,000 won, and LG Energy Solution gained 4.92 percent to 373,500 won. Among other large caps, Samsung Biologics added 2.10 percent to 1,555,000 won. Hanwha Aerospace edged up 1.41 percent to 1,296,000 won, and Doosan Enerbility climbed 3.18 percent to 103,900 won. Financials and industrials also traded higher. KB Financial Group gained 2.41 percent to 148,800 won, HD Hyundai Heavy Industries rose 2.99 percent to 517,000 won, and Samsung C&T climbed 3.10 percent to 283,000 won. Celltrion advanced 2.97 percent to 193,900 won, while Samsung Life Insurance added 2.76 percent to 223,500 won. Shinhan Financial Group rose 1.22 percent to 91,000 won, Hanwha Ocean gained 3.11 percent to 122,600 won, and Mirae Asset Securities advanced 3.07 percent to 63,800 won. Hyundai Mobis increased 2.10 percent to 389,000 won, while HD Hyundai Electric jumped 3.83 percent to 948,000 won. Kia was the only major decliner, falling 2.04 percent to 158,400 won. 2026-03-24 10:44:01
  • Vietnam emerges as new frontier for Korean movies
    Vietnam emerges as new frontier for Korean movies SEOUL, March 23 (AJP) - With The King’s Warden the latest South Korean movie set for release in Vietnam, the Southeast Asian country is emerging as a strategic growth market for Korean cinema. The film, which drew over 14 million viewers at home, is set in Yeongwol county in Korea’s Gangwon province, and depicts the relationship between a young dethroned king and a village chief. It is set to open on April 10 across more than 200 screens, including CGV, Lotte Cinema, and major local chains, according to CJ HK Entertainment, the Vietnamese unit of CJ ENM, Vietnam’s film market has been expanding rapidly in recent years, since returning in 2022 to pre-pandemic levels, according to the Korea Creative Content Agency. Korean companies, particularly CJ ENM’s Vietnamese unit, have played a major role in this growth. Since entering the market in 2014, CJ HK has participated in the production, investment and distribution of more than 20 movies. It led the production of Mai (2024) and Nha Ba Nu (2023), which ranked first and second in Vietnam’s all-time box office, and in 2025 placed The Ancestral Home among the country’s top 10 hits, ranking seventh overall. Industry observers say the relationship is evolving beyond content exports to co-production, with Korean firms shifting from external suppliers to local partners. Released in Vietnam on Aug. 1 last year, Leaving Mom was a co-invested project between Korean and Vietnamese production companies. Directed and written by a Korean filmmaker, the film was shot in both countries with a joint cast and crew. It surpassed its break-even point within three days with 840,000 admissions and went on to top the box office for 15 consecutive days, exceeding 2 million viewers. According to distributor Showbox, Exhuma drew more than 2.23 million viewers in Vietnam within 17 days of its release in March 2024, surpassing previous records. It also posted the highest opening-day and opening-weekend revenues for a Korean film in the market. Vietnam has emerged as a key partner for Korean film collaboration, offering a more open production environment compared with China and Japan. CJ CGV and Lotte Entertainment together hold about 54 percent of the multiplex market, providing strong distribution infrastructure for Korean content. At the same time, Vietnam’s domestic film industry share of box office revenue rose from 29 percent in 2019 to about 70 percent in 2025. Total box office revenue reached a record 5.59 trillion dong ($312 million) in 2025, up 24 percent from 2024 and more than 35 percent from 2019, with annual ticket sales exceeding 70 million. This contrasts with South Korea’s film market, which remains in a prolonged slowdown. Theater admissions fell 32.5% year-on-year to about 42.5 million in the first half of 2025, while revenue dropped 33.2%. Film production has also declined significantly, and the expansion of streaming platforms continues to weigh on both theatrical and secondary markets. 2026-03-23 17:52:55
  • Korean pet food firms push into Vietnams booming market
    Korean pet food firms push into Vietnam's booming market SEOUL, March 23 (AJP) — South Korean pet food companies are increasingly targeting Vietnam as a key growth market, capitalizing on the Southeast Asian country’s rapidly expanding pet economy and rising demand for premium pet care. Vietnam has quickly emerged as a strategic destination for Korean exporters. Korean-made pet food already accounts for an estimated 30-40 percent of purchases in some segments, underscoring strong brand recognition and consumer trust. South Korea’s animal feed exports to Vietnam have reached $27.2 million, highlighting the country’s growing importance as an overseas market for Korean firms seeking new revenue streams beyond a maturing domestic industry. The push into Vietnam comes as the country’s pet economy undergoes rapid expansion. Pet population in Vietnam estimated at 31.4 million in 2024 is expected to exceed 33 million this year, according to Euromonitor International. The market itself is projected to grow from around $500 million in 2023 to more than $700 million by 2027, representing an annual growth rate of about 11 percent. This growth is being driven not only by rising pet ownership but also by a shift toward higher-value spending. In cities such as Hanoi, demand for pet services is surging. Dog training centers charge roughly 3 million VND (about $170) per month and report dozens of monthly inquiries, with steady enrollment. Pet hotels and daycare centers are frequently fully booked during peak travel seasons, reflecting a broader willingness among owners to spend on convenience and quality care. Spending is also diversifying beyond basic pet food into services such as grooming, veterinary care and training, areas where Korean companies see opportunities to introduce higher-end products and specialized offerings. For Korean firms, Vietnam’s growth contrasts with more mature conditions at home. Data from the KB Financial Group Research Institute shows that 5.91 million households in Korea — 26.7 percent of the total — owned pets as of 2024, with the overall pet population estimated at 15.5 million. The domestic pet food market is likewise sizable, reaching around 2.2 trillion won ($1.7 billion) in 2025, but growth is gradually stabilizing. While consumer spending continues to rise — with KB Kookmin Card data showing a roughly 30 percent increase in pet-related spending between 2021 and 2024 — companies are increasingly looking abroad to sustain momentum. Major food companies have been expanding their pet food portfolios as part of this outward push. Pulmuone recorded a 35 percent year-on-year increase in pet food sales, with some products posting explosive growth. HY reported a 34.6 percent rise, while Dongwon F&B achieved double-digit growth and expanded exports to more than 10 countries, including Vietnam. Daesang PetLife also posted a 25 percent increase in revenue. 2026-03-23 16:54:33
  • Asia markets slide as foreign flows unwind amid U.S. ultimatum on Iran
    Asia markets slide as foreign flows unwind amid U.S. ultimatum on Iran SEOUL, March 23 (AJP) — A sharp pullback in foreign positioning rippled across Asian markets Monday after Washington issued a 48-hour ultimatum for Iran to reopen the Strait of Hormuz, prompting investors to cut exposure to risk-sensitive assets. Chip-heavy markets led regional losses. Japan’s Nikkei 225 slipped below the 51,000 mark for the first time since Jan. 5, according to Kyodo News, dragged down by semiconductor stocks. Advantest plunged 6.76 percent, while Tokyo Electron fell 4.35 percent. Oil-sensitive chemical and manufacturing shares, along with retail heavyweight Fast Retailing, also declined. Hong Kong’s Hang Seng Index dropped 2.40 percent to 24,670.29, China’s Shanghai Composite fell 1.88 percent to 3,882.67, and Taiwan’s Taiex Index declined 2.04 percent to 32,860.10. The KOSPI slid sharply at the open, triggering a sell-side sidecar at 9:18 a.m. after KOSPI200 futures dropped more than 5 percent for over one minute — the 10th such activation this year. Foreign investors accelerated outflows, dumping more than 1.16 trillion won worth of shares shortly after the opening bell. The Korean won also came under pressure. The dollar-won exchange rate opened at 1,504.9 won and rose to as high as 1,511.8 won in early trade — its highest level since March 2009 during the global financial crisis. The market reaction followed U.S. President Donald Trump’s warning that Iran must reopen the Strait of Hormuz within 48 hours or face further military action, intensifying fears of a prolonged disruption to a critical global energy route. As of 11:01 a.m., the KOSPI had fallen 4.88 percent, or 281.93 points, to 5,499.27, while the KOSDAQ dropped 3.65 percent to 1,119.08. Losses were broad-based across sectors. In semiconductors, Samsung Electronics declined 4.96 percent and SK hynix dropped 6.26 percent. Automakers also weakened, with Hyundai Motor down 4.84 percent, Kia falling 4.57 percent and Hyundai Mobis losing 5.37 percent. Energy, industrial and shipbuilding stocks were also under pressure. LG Energy Solution fell 3.60 percent, SK Square plunged 8.22 percent and Doosan Enerbility declined 5.75 percent. Hanwha Aerospace, HD Hyundai Heavy Industries, Hanwha Ocean and HD Hyundai Electric all posted losses of around 4 to 7 percent. In bio and healthcare, Samsung Biologics fell 3.81 percent and Celltrion declined 5.79 percent. Financials tracked the broader downturn, with KB Financial Group falling 4.83 percent, Shinhan Financial Group down 5.62 percent, Mirae Asset Securities dropping 6.50 percent and Samsung Life Insurance losing 4.32 percent. Among other large caps, Samsung C&T declined 5.38 percent and NAVER slipped 4.51 percent. On the KOSDAQ, Samchundang Pharm stood out among the few gainers, rising 3.97 percent on continued optimism over its oral insulin pipeline. Analysts said market direction this week will hinge on geopolitical developments and U.S. rate expectations, while warning of potential peak-out concerns in the memory cycle following Micron’s earnings. Investors were advised to monitor semiconductor earnings revisions and foreign fund flows closely. 2026-03-23 11:40:35
  • KOSPI sinks more than 6%, Korean won hits fresh 17-year low
    KOSPI sinks more than 6%, Korean won hits fresh 17-year low SEOUL, March 23 (AJP) - South Korea’s benchmark KOSPI tumbled at the open on Monday, triggering a sell-side sidecar as investor sentiment soured sharply on energy crisis after an U.S. ultimatum on Iran to reopen the Strait of Hormuz. As of 9:54 a.m., Seoul's main index sank 6 percent 5,430.24, and the KOSDAQ nearly 5 percent to 1,105.33. Losers overwhelmed gainers by 859 to 57. The dollar hit 1,510.40, the first time above 1,510 since March of 2009 amid the global financial crisis. Fears of a broader conflict between the United States, Israel and Iran — coupled with surging oil prices and a global market sell-off — drove a broad risk-off sentiment, sending equities sharply lower. The escalation intensified after U.S. President Donald Trump warned Iran to reopen the Strait of Hormuz within 48 hours or face destruction on its energy infrastructure, as Tehran launched its most destructive attack yet on Israel. Index-heavy Samsung Electronics and SK hynix plunged more than 6 percent. Automobile and mobility stocks also moved down, Hyundai Motor fell 4.06 percent to 496,000 won, Kia declined 3.62 percent to 162,400 won, and Hyundai Mobis dropped 5.12 percent to 380,000 won. In energy, chemicals and industrials, LG Energy Solution slipped 3.60 percent to 362,000 won, SK Square plunged 8.72 percent to 555,000 won, Doosan Enerbility fell 5.29 percent to 103,800 won, Hanwha Aerospace declined 4.24 percent to 1,264,000 won, HD Hyundai Heavy Industries dropped 6.80 percent to 521,000 won, and Hanwha Ocean fell 5.58 percent to 121,900 won. In bio and healthcare, Samsung Biologics edged down 3.31 percent to 1,548,000 won, while Celltrion declined 4.80 percent to 192,300 won. Financial shares followed the downward trend, with KB Financial Group falling 3.80 percent to 149,300 won, Mirae Asset Securities dropping 5.91 percent to 63,700 won, Samsung Life Insurance declining 4.32 percent to 221,500 won, and Shinhan Financial Group falling 4.29 percent to 93,700 won. 2026-03-23 10:05:09