Journalist

Kwon Gi-won
  • OPINION: The essence of the Iran war — beyond the wounds of religion and ethnicity, toward an order of coexistence
    OPINION: The essence of the Iran war — beyond the wounds of religion and ethnicity, toward an order of coexistence SEOUL, March 29 (AJP) - When examining the war in the Middle East, the first instinct to resist is oversimplification. The ongoing Iran conflict may appear on the surface as a clash between Israel and Iran, but in reality it is a multi-layered war entangling U.S. military and diplomatic intervention, the strategic interests of Gulf states, the involvement of pro-Iranian proxies such as the Houthis and Hezbollah, and the mounting pressure surrounding the Strait of Hormuz and the global energy order. Recent developments alone paint a vivid picture. Gulf states have conveyed to Washington that a ceasefire is insufficient, demanding instead the degradation of Iran's military capabilities. Yemen's Houthis have formalized their offensive against Israel within the broader war effort. This is no longer a bilateral conflict. It is a simultaneous eruption of fissures that have long fractured the Middle East. Yet to view this war solely through the prism of missiles, airstrikes, crude oil and exchange rates is to see only half the picture. Beneath the surface lie deep geological strata of history and religion, ethnicity and collective memory. Iran, which claims the mantle of Shia leadership, has long competed with the Sunni-dominated regional order. Israel's security doctrine clashes with the broader Islamic world's grievances. Western historical intervention and the lingering memory of empire have together fueled today's volatility. The Sunni-Shia divide transcends doctrinal differences. It functions as a political axis along which Iran and Saudi Arabia contest leadership of the Muslim world. Religion serves as a banner, but what moves that banner is power, fear, memory, and mobilization. The medieval Crusades cast a historical shadow that persists to this day. They were military expeditions launched by Western Christendom under the banner of reclaiming the Holy Land and containing Islamic power. It would be reductive to frame today's Middle Eastern conflict as a mere repetition of the Crusades — nation-states have since emerged, oil and nuclear weapons have entered the equation, and international law and global finance now shape the landscape. Yet the ancient template of "politics waged in God's name" remains very much alive. Faith does not inherently breed violence. But when political power absolutizes faith, religion becomes the most potent language of mobilization. The tragedy of the Middle East has been repeated at precisely that juncture. To understand this war, one must confront a fundamental truth: Judaism, Christianity, and Islam all revere Abraham as a common ancestor of faith. They are Abrahamic religions. In other words, the faiths now training their weapons on one another are, at their core, siblings born from a single root. That they share the same origin yet exclude and deny one another represents, from the standpoint of universal human values, a painful paradox. The moment belief ceases to be a path for saving human lives and becomes an instrument of division, faith loses its original meaning and degenerates into the language of power. This paradox manifests with particular intensity in the Middle East, and nowhere more acutely than in Iran. Today's Iran is known as a Shia Islamic state, but its historical roots run far deeper. The ancient land of Persia was the heartland of Zoroastrianism — a faith widely assessed as having influenced the later development of Judaism, Christianity, and Islam. Moreover, Iran is a nation uniquely situated within the Middle East, using Persian rather than Arabic as its official language. Within this complex entanglement of religion, ethnicity, and language, conflict transcends territorial disputes and resource competition, escalating into a collision of identities. The Iran war is simultaneously a contest of "who is stronger" and a clash over "who we are." The Sunni-Shia rift is not, at its core, merely a theological matter. The schism that began with the seventh-century succession dispute within the Islamic community has solidified over the centuries into a foundation for state alliances, military networks, and identity politics. Iran has expanded its influence through Shia networks stretching across Lebanon, Iraq, and Yemen. Sunni-majority states have perceived this as a challenge to their own security and regional hegemony. This is why Gulf nations, even while not fully aligning with Israel, quietly hope for the diminishment of Iran's capabilities — revealing an ambivalence that lays bare a critical truth: though this war wears the garb of religion, its actual operating mechanism is the politics of the balance of power. Yet religion should not be dismissed lightly. The ambitions and prejudices of political leaders invariably exploit a people's collective memory and wounds. Religion ought to restrain the human impulse, but when fused with power, it readily becomes a tool of absolutism. Phrases such as "God's will," "the mission of a chosen people," and "the revenge of history" are among the most potent rallying cries for mobilizing the masses. In that moment, the adversary ceases to be a negotiating partner and becomes a target for elimination. War is no longer a border dispute but an existential struggle. This is precisely why the Middle East stands at such a dangerous precipice today. When one side defines the other not as an agent of flawed policy but as the very embodiment of evil, peace is no longer a strategic question — it becomes an act of betrayal. Ending the Iran war, therefore, cannot be achieved through military ceasefire alone. A ceasefire silences the guns but does not silence the narrative of enmity. Genuine resolution requires a simultaneous approach across three dimensions. The first is national security. Tangible safeguards must be established to halt strait blockades, missile strikes, and the deployment of proxy forces. The second is politics. The multilateral negotiating framework — entangling Iran, the Gulf states, Israel, its neighbors, the United States, and Europe — must be restructured. The third is the dimension of civilization and religion. Unless the mentality that views the adversary as a target for annihilation is dismantled, war will return in altered form. The Middle East's true affliction is that memories outlast weapons. Thus, the philosophical and religious language that addresses memory must re-enter the discourse. It is here that South Korea's experience offers food for thought. The Republic of Korea is among the rare nations where Buddhism, Protestantism, Catholicism, Won Buddhism, Confucian traditions, and folk beliefs have coexisted within a single society. The Korean Constitution guarantees freedom of religion and prohibits discrimination on religious grounds. Relevant studies have noted that Korean society exhibits comparatively high support for religious freedom and interfaith coexistence. This is not to suggest an absence of conflict. But the fact that the state has not absolutized any single religion, and that multiple faiths have accumulated an experience of competing yet coexisting within institutional frameworks, constitutes a tangible asset. At the deeper root of this Korean asset, the spirit of Hongik Ingan — "to broadly benefit humanity" — and the ideal of Jaesaei-hwa — "to harmoniously govern the world" — are frequently invoked. These ancient principles do not proclaim the supremacy of any single religion. They are closer to ethical maxims for sustaining both the individual and the community. To revere the heavens without harming nature, to value the community without abandoning human dignity — this is the soil in which religious coexistence can take root. Translated into today's language, it amounts to this: no one may trample another in the name of God, and neither state nor civilization may stand above human dignity. This is not a technique of interfaith compromise. It is the final principle that civilization must uphold. In this context, the thought of Daseok Ryu Young-mo also merits renewed attention. Rather than insisting on the absolutism of any single religion, Daseok sought conscience, life, and the will of heaven within the diverse traditions of human spirituality. What the Middle East has lost today is precisely this: the recognition that though beliefs may differ, human suffering is the same; that though the names of God may differ, the lives that must be saved are the same. The force that ends conflict does not lie in making the other entirely the same. It lies in recovering a shared humanity while acknowledging difference. Finally, it is worth recalling the words of the Bible, the Quran, and the Jewish scriptures together. The Bible says, "Blessed are the peacemakers" — that the practice of peace is the true mark of faith. The Quran says God created diverse peoples "so that you may know one another" — that difference is not a pretext for domination and extermination but a starting point for mutual recognition and respect. The Psalms sing, "How good and pleasant it is when brothers dwell in unity." These brief passages from different scriptures converge upon a single truth: God did not command humanity to sanctify hatred. He asked us to know one another, to live together, and to build peace. The essence of the Iran war can therefore be distilled into a single proposition. This is a war of guns and missiles, and simultaneously a war of memory and faith, ethnicity and power. That is why it is harder, and why it endures longer. But precisely because of this, the solution must also be multi-layered. Military deterrence and diplomatic compromise, economic interests and religious reflection, national security and human dignity — all must advance in concert. Elevating any single dimension collapses the rest. The Middle East's history has for too long attempted "the peace of the victor." The time has come to pivot toward "the peace of those who must live together." The question South Korea must ask itself while witnessing this tragedy is clear. Do we truly possess the wisdom befitting a nation where religions coexist? Are we prepared to present Hongik Ingan not as a textbook phrase but as a universal ethic for the world? Do we possess the spiritual depth to find a single truth within different faiths, as Daseok once sought? And can we look upon the world anew through the ancient intuition that heaven, earth, and humanity must walk together — Injungcheonji-il, the recognition that the will of heaven and nature dwells within the human being? The conclusion is at once simple and difficult. To end the era in which Abraham's descendants train their weapons upon one another, humanity must now move beyond "the politics of difference" and recover "the ethics of sameness." Ethnicities differ, but suffering is the same. Religions differ, but life is the same. Nations differ, yet human dignity cannot be divided. When we believe that the will of heaven and nature lives within the human being — when we awaken to the truth that humanity is not a separate master standing over nature but an existence bridging heaven and earth — only then do restraint, coexistence, and peace become possible. War is not ultimately won by those who seize the land, but ended by those who sever the inheritance of hatred. Truth, justice, and freedom are not the banner of any single camp. They are the last fence that keeps human beings human. Our gaze upon the Iran war must begin there. To ensure that politics which discards humanity — under the pretext of religion, ethnicity, or the state — can no longer prevail: that is the task of 21st-century civilization, and the path that the Republic of Korea can quietly yet decisively present to the world. *The author is a columnist of AJP. 2026-03-29 10:36:00
  • U.S. Iran oil waiver offers limited relief for Korea, little help for petrochemicals
    U.S. Iran oil waiver offers limited relief for Korea, little help for petrochemicals SEOUL, March 23 (AJP) - A temporary U.S. decision to allow the sale of Iranian oil already at sea is expected to ease near-term supply pressures, but offers limited relief for South Korea’s petrochemical sector struggling with naphtha naphtha shortages from Strait of Hormuz disruption. The U.S. Treasury Department has authorized a 30-day waiver covering Iranian crude loaded before March 20, a move aimed at injecting additional supply into global markets and stabilizing prices. Treasury Secretary Scott Bessent on Sunday defended the decision, arguing that it would not materially strengthen Tehran while benefiting U.S. allies. “Iran already gets a huge amount of the money, because Iran is the largest sponsor of state terrorism, and China has been funding them,” Bessent said. “This sale…would help the United States’ Asian allies, like Japan, Korea, Indonesia and Malaysia.” For South Korea, the additional supply—estimated at around 140 million barrels globally—could help ease price volatility and improve access to crude suited for domestic refineries. Iranian crude, typically medium-sour, aligns well with Korea’s refining system, allowing efficient processing without major adjustments. The government has yet to issue an official response. The measure is unlikely to significantly ease pressure on Korea’s petrochemical industry, which depends heavily on condensate, a key feedstock for naphtha production. Before U.S.-led sanctions, Iran was a critical supplier. According to the Korea Petroleum Association, Iranian crude accounted for 14 percent of Korea’s total imports in March 2018 before dropping sharply as sanctions tightened. More importantly, Iran supplied about half of Korea’s condensate imports in 2017. Iranian condensate is prized for its high naphtha yield—the base material for petrochemical products—and is typically sold at a discount compared with alternatives, making it both efficient and cost-competitive. The current waiver does not restore direct imports from Iran, nor does it signal a broader shift in sanctions policy. It is restricted to stranded oil—much of it already purchased, often by China—to re-enter the market. 2026-03-23 09:38:31
  • Shin nomination signals BOK shift toward financial stability, external shock shield
    Shin nomination signals BOK shift toward financial stability, external shock shield SEOUL, March 22 (AJP) - President Lee Jae Myung on Sunday nominated Shin Hyun-song, economic adviser and head of the Monetary and Economic Department at the Bank for International Settlements (BIS), as the next governor of the Bank of Korea, tasked with navigating monetary policy amid the economic fallout from the Gulf war crisis. The presidential office said Shin’s combination of academic depth and policy experience makes him well suited to manage rising uncertainty linked to geopolitical tensions and inflation risks, while balancing price stability and growth. Shin, a former Princeton University professor and senior adviser to former conservative President Lee Myung-bak in 2010, has spent the past decade at the Bank for International Settlements, where his work has centered on global liquidity, financial cycles and systemic risk. Shin’s research indicates a policy approach that places financial stability at the core of monetary decision-making. In “Global Banking Glut and Loan Risk Premium” (IMF Working Paper, 2011), Shin argues that financial conditions are driven by the balance sheet expansion of global banks and leverage cycles, rather than policy rates alone. In a related line of work, “Global Liquidity and Procyclicality” (BIS/NBER), he elaborates that credit supply expands and contracts with global banking conditions, amplifying boom-bust cycles across economies. These findings suggest that central banks need to monitor credit growth, leverage and asset prices alongside inflation. His arguments point to the need for close attention to household debt management and macroprudential policy tools. A central theme in Shin’s work is the dominant role of the U.S. dollar in the global financial system. In BIS Quarterly Review articles, including “The Dollar, Bank Leverage and the Deviation from Covered Interest Parity” (BIS, 2018), Shin documents how dollar-denominated credit outside the United States exposes borrowers to funding risks when the dollar strengthens. His research shows that tighter global dollar liquidity can lead to capital outflows, currency depreciation and tighter financial conditions, regardless of domestic policy settings. Shin’s appointment comes as the won is at its weakest level against the U.S. dollar since the global financial crisis, ending last week at around 1,500 per dollar. Shin has also emphasized that inflation dynamics are increasingly influenced by external forces. In a BIS speech, “Inflation: Drivers and Dynamics” (2022), he highlights the role of commodity prices, exchange rates and global financial conditions in shaping inflation, especially in open economies. This suggests that monetary policy decisions will need to account for imported inflation and exchange rate pass-through, particularly as oil prices and energy supply disruptions weigh on import-dependent Korea. Under his watch, the Bank of Korea may prioritize financial stability and systemic risk monitoring, global liquidity and capital flow conditions, and exercise caution on rate cuts amid U.S. dollar strength. Following a parliamentary confirmation hearing, Shin is expected to succeed current Bank of Korea Governor Rhee Chang-yong, whose four-year term ends on April 20. 2026-03-22 17:27:40
  • SONGZIO X BTS turns comeback stage into a living archive of Korean history
    SONGZIO X BTS turns comeback stage into a living archive of Korean history SEOUL, March 22 (AJP) -SEOUL, March 22 (AJP) — BTS’s comeback stage at Gwanghwamun was not only a musical return but a carefully constructed visual manifesto, where fashion became the medium through which history, identity and future ambition converged. At the center of that statement was “Lyrical Armor,” a collaborative collection with Korean designer Songzio, which transformed the seven members into embodiments of Korea’s evolving cultural narrative. Rather than treating costume as embellishment, the collection functioned as narrative architecture — a wearable interpretation of Korea’s past reframed for a global present. The conceptual foundation drew from early Joseon-era armor, juxtaposed with the fluidity of hanbok and the expressive tradition of poets, painters and sorigun (traditional vocal performers). Armor plates became fragmented panels. Hanbok lines were stretched, tilted and reassembled. Seams were deliberately left raw, exposing what appeared to be the “wounds” of history — not concealed, but integrated into the design language. Within this framework, each BTS member occupied a symbolic role, turning the stage into a tableau of archetypes. RM, positioned as the “Hero,” wore a long, hanbok-inspired coat structured with armor-like plating. The piece balanced weight and flow, authority and restraint — a visual articulation of leadership grounded in cultural lineage. Jin’s “Artist” translated traditional elegance into modern tailoring, with layered structures referencing armor yet softened through draped movement, suggesting the transformation of emotion into form. SUGA, cast as the “Architect,” embodied construction itself. His look emphasized structure and tension — rigid elements offset by fluid lines — mirroring the duality of composition and introspection that defines his musical identity. J-Hope’s “Sorigun” brought rhythm into fabric. A reinterpretation of the dopo through a streetwear lens, his silhouette moved with kinetic asymmetry, reflecting both performance and improvisation. Jimin’s “Poet” leaned into fragility and lightness. His layered armor dissolved into air-like textures, with delicate embellishments that captured motion as if writing verse through movement. V’s “Doryeong” distilled restraint. Drawing from the scholar class, his look combined controlled tailoring with layered drapery, projecting quiet authority rather than overt spectacle. Jungkook, as the “Vanguard,” pushed forward. His deconstructed, military-inflected silhouette conveyed propulsion — a figure not rooted in history but moving through it, carrying its fragments into the future. Across all seven, a common language emerged: asymmetry, layering, and tension between structure and flow. It was a language that spoke to rupture — and to rebuilding. In doing so, “Lyrical Armor” aligned seamlessly with the broader arc of BTS’s comeback project, “Arirang,” which seeks to reconnect with Korean identity at a moment of global saturation. The conceptual core of “Lyrical Armor”, explained designer Jay Songzio in his homepage, lies in the fusion of strength and lyricism — combining the rigid armor worn by early Joseon warriors with the flowing hanbok of poets and sorigun who distilled collective grief and aspiration into verse and song. The result is a vision of “new-era heroes” who carry history not as burden, but as momentum toward the future. Songzio described the collection as an act of resistance against conventional boundaries of time, form and dress. Traditional structures were dismantled and reassembled into abstract fragments, creating avant-garde silhouettes that oscillate between expansion and restraint. Volumes swell and recede, while non-structural patterns and fluid draping move like kinetic sculpture, blurring the line between reality and imagination. As BTS stood before a crowd of more than 100,000 and millions more watching worldwide, they were not only performing songs. They were wearing a narrative — one that suggested that the future of K-fashion, like K-pop itself, based on hanbok identity. 2026-03-22 15:36:48
  • BTS comeback draws 104,000 to Seoul, lifts retail sales as event concludes safely
    BTS comeback draws 104,000 to Seoul, lifts retail sales as event concludes safely SEOUL, March 22 (AJP) -The BTS’s comeback concert in central Seoul on Saturday drew more than 100,000 people and ended without a single major incident, delivering both a powerful display of K-culture’s global reach and a sharp boost to retail sales around the event zone. According to the Seoul Metropolitan Government on Sunday, an estimated 104,000 spectators gathered around Gwanghwamun Plaza on Saturday, as global fans — known as ARMY — joined Seoul residents in a rare citywide celebration. The event doubled as an economic catalyst, with convenience store sales in the area surging dramatically on the day of the concert. CU, operated by BGF Retail, said sales at 10 stores near Gwanghwamun jumped 270.9 percent from a week earlier, while three stores closest to the venue saw sales soar 547.8 percent. Sales of albums and newspapers, including BTS releases, surged 214.3 times, while demand for concert essentials spiked. Batteries rose 50.7 times, hot packs 12.8 times, portable chargers 11.9 times, cosmetics 11.4 times, and tissues 10.2 times, driven largely by fans preparing for long hours outdoors. Food and beverage sales also climbed sharply, with gimbap up 1,380.4 percent, sandwiches 1,146.7 percent, triangle kimbap 884.3 percent, bottled water 831.4 percent, and iced drinks 813.4 percent. GS25 reported similar trends, with sales at five nearby stores rising 233.1 percent, and the busiest location posting gains of up to 378.4 percent. Hot packs surged 5,698.8 percent, portable chargers 2,016.9 percent, and batteries 3,530.8 percent, while transportation card sales rose 647.5 percent amid heavy foot traffic and increased purchases by foreign visitors. Seven-Eleven said sales at 40 stores in the Gwanghwamun and Myeong-dong areas increased 117.0 percent from a month earlier, with some stores near the venue seeing sales jump as much as sevenfold. Emart24 also reported steady increases, including a 400 percent rise in battery sales and 260 percent in wet tissues compared with the previous week. Apart from law enforcement forces, city authorities mounted a large-scale safety operation to manage the crowds. A total of 3,400 personnel from city agencies were deployed, rising to about 8,200 when combined with staff from event organizer HYBE. A joint command post was activated at the Sejong Center for the Performing Arts from 10 a.m., 10 hours before the concert, coordinating efforts among city officials, police, fire authorities and organizers to monitor crowd conditions in real time. The Seoul Fire and Disaster Headquarters deployed 102 fire vehicles and 803 personnel, while police implemented a “stadium-style” crowd control system to disperse foot traffic and prevent congestion. Despite dense crowds, no safety incidents were reported. Preventive measures included the installation of safety barriers at 82 key locations, such as subway ventilation shafts and station entrances. Cleanup operations were completed swiftly, with 274 personnel and 53 vehicles deployed and about 40 tons of waste collected over two days. Major roads, including Sejong-daero, were reopened early Sunday morning after overnight restoration. Extensive multilingual support was also provided for international visitors. More than 600 interpreters and volunteers were deployed, and transport systems offered guidance in multiple languages across subway stations and bus stops. Seoul Mayor Oh Se-hoon said the event demonstrated the city’s global competitiveness. “This was more than a comeback stage — it was an opportunity to showcase Seoul’s cultural capacity and global standing,” he said. The city plans to extend the festive atmosphere through HYBE’s “The City Arirang Seoul” program, running through April 19 across key landmarks including the Han River and Dongdaemun Design Plaza. 2026-03-22 13:24:26
  • Daejeon factory fire kills 14; company chief apologizes amid probe into cause
    Daejeon factory fire kills 14; company chief apologizes amid probe into cause SEOUL, March 22 (AJP) - The head of a South Korean auto parts manufacturer publicly apologized on Sunday after a devastating factory fire in Daejeon left at least 14 workers dead and dozens injured, as authorities launched a full-scale investigation into the cause of the blaze. Sohn Ju-hwan, CEO of Anjeon Industry, visited a joint memorial altar set up at Daejeon City Hall, where he bowed deeply and expressed remorse before the victims. Holding a white chrysanthemum, Sohn stood in silence before the memorial tablets of the 14 deceased workers. After a prolonged pause, he broke down in tears, repeatedly saying, “I am truly sorry.” About 30 company employees accompanied him, some visibly emotional as they echoed his apology toward the victims. In a statement posted a day earlier on the company’s website, Sohn pledged full cooperation with authorities and promised support for victims and their families. “We extend our deepest condolences and sincere apologies to all those who lost their lives or were injured, as well as to their families,” he said. “We will take full responsibility by providing necessary support and ensuring recovery efforts.” The fire broke out at around 1:17 p.m. on Friday at the Anjeon Industry plant in Daedeok District, Daejeon, where about 170 workers were on site. The blaze, which took more than 10 hours to fully extinguish, left 14 people dead and at least 60 others injured, including two firefighters. Rescue teams recovered the final three missing victims from the charred second floor late Saturday afternoon, bringing the death toll to 14. Authorities said the fire spread rapidly, fueled by oil residue and accumulated dust inside the facility, while some 200 kilograms of sodium stored on site raised the risk of explosions and complicated firefighting efforts. At the time of the incident, many workers were resting near upper floors during lunch break, when thick smoke quickly blocked evacuation routes. Some reportedly jumped from windows to escape. The exact cause of the fire remains under investigation, though witnesses reported hearing an explosion shortly after the blaze began. Police have deployed a 131-member task force to determine the cause and assess potential negligence. A joint forensic inspection involving police, fire authorities and other agencies is expected once structural safety at the site is secured. Identification of the victims is ongoing, with DNA analysis being conducted by the National Forensic Service. As of Sunday, only one victim — a man in his 40s — had been formally identified. Authorities expect the identification process to be completed as early as Monday, after which families will be officially notified. President Lee Jae Myung visited the site on Saturday, calling for a thorough investigation and measures to prevent similar tragedies. “We will make every effort to determine the cause and ensure such incidents do not happen again,” said Kim Seung-ryong, commissioner general of the National Fire Agency. The Daejeon Metropolitan Government has established a joint memorial altar at City Hall, where citizens continue to pay their respects. 2026-03-22 13:06:00
  • Retail inflows sustain KOSPI with bubble warning triggered
    Retail inflows sustain KOSPI with bubble warning triggered SEOUL, March 22 (AJP) - South Korea’s stock market remains one of the world’s top performers over the past year, backed by heavy retail influx despite rapid foreign pullback due to the economy's heavy exposure to the crippled Strait of Hormuz, causing warnings of bubbly risks. The benchmark KOSPI hovers around 5,800 despite escalating oil prices and tensions in the Gulf after rising more than 150 percent in less than a year amid heavy swings since the war. It held tough versus other major markets in the war wake, with the S&P 500 down nearly 4 percent from end-February levels, while Europe’s Stoxx 600 and Germany’s DAX have fallen around 8 percent to 10 percent. Japan’s Nikkei 225 has also retreated more than 9 percent. By comparison, the KOSPI remains up more than 37 percent from end-2025 levels. Bank of America (BofA) found the market’s behavior as a “textbook bubble,” pointing to extreme reversals — including a double-digit plunge followed by a near double-digit rebound — that resemble patterns seen during past crises such as 1997 and 2008. Its proprietary Bubble Risk Indicator, which combines returns, volatility, momentum and fragility, places Korea at near-extreme levels of bubble risk, underscoring the intensity of recent price action. Valuation metrics add to the caution. The Buffett Indicator has risen above 200 percent, a level widely viewed as significantly overvalued, while the VKOSPI volatility index remains elevated after briefly hitting record highs earlier this month. The primary force is retail capital returning at scale. According to Korea Exchange and Koscom data, individual investors have purchased more than 21.8 trillion won ($16 billion) worth of KOSPI shares so far this month, already approaching the record monthly inflows seen during the 2021 pandemic-era rally. Since January, cumulative net buying by retail investors has reached 34.7 trillion won, and rises to as much as 50 trillion won when exchange-traded funds are included. During the same period, foreign investors sold nearly 50 trillion won worth of Korean equities. The inflows reflect a broader “money move” across asset classes. Funds are rotating out of bank deposits, overseas equities and cryptocurrencies, as domestic investors reposition toward Korean equities amid a combination of strong returns and shifting global conditions. Deposits have declined despite rising interest rates, while trading volumes in the crypto market have dropped sharply, signaling waning momentum in alternative assets. The return of retail investors is not limited to small accounts. High-net-worth individuals are also rotating back into domestic large-cap stocks, while margin borrowing has surged — particularly among younger investors seeking to catch up with the rally. Data from major brokerages show that margin investors posted average losses of around 19 percent during recent declines, more than double the losses of unleveraged investors. The gap is even wider among younger and smaller investors, where concentrated positions have magnified losses. Still, many analysts argue the market’s fundamentals remain intact. On a forward basis, the KOSPI trades at around 9.5 times earnings, below its 10-year average, suggesting that valuations remain relatively attractive after recent corrections. The rally continues to be anchored by the semiconductor supercycle, with strong earnings momentum in Samsung Electronics and SK hynix supporting broader index gains. At the same time, external uncertainties — including geopolitical tensions in the Middle East and rising energy prices — continue to inject volatility, with markets reacting sharply to headlines and policy signals. The result is a market increasingly defined by a tension between liquidity and risk. 2026-03-22 10:30:05
  • BTS comeback album and show ARIRANG make a splash on Spotfiy and Netflix
    BTS' comeback album and show 'ARIRANG' make a splash on Spotfiy and Netflix SEOUL, March 22 (AJP) -BTS’ first studio album in six years, “Arirang,” has opened with a blockbuster showing on Spotify, underlining the group’s enduring global pull and setting the pace for music releases in 2026. The album recorded 110 million streams worldwide on its first day, according to figures cited in the report, making it the biggest Spotify debut of the year so far and the largest opening day ever for a K-pop release on the platform. It also ranked as the 12th biggest first-day album debut in Spotify history, placing BTS in rare company among the platform’s top global performers. The opening figure comfortably surpassed the previous 2026 leader, Harry Styles’ “Kiss All the Time. Disco, Occasionally,” which reportedly drew 63 million first-day streams. Other major releases this year, including albums by J. Cole, A$AP Rock, Bruno Mars and Blackpink, trailed well behind BTS’ opening tally. The strong start suggests “Arirang” is well positioned to become the year’s biggest music release so far once broader weekly industry data, including sales and airplay, are compiled. While full Billboard and Luminate figures are still pending, Spotify’s early results point to a commercial performance that few 2026 releases are likely to match. The album’s dominance was also visible across Spotify’s track rankings. On the Global Top 50, songs from “Arirang” occupied all 14 of the top positions in uninterrupted order. In the United States, BTS held the top two spots with “Swim” and “Body to Body,” while all 14 album tracks landed within the chart’s top 26. Spotify had signaled the scale of anticipation even before release, saying “Arirang” became one of the most pre-saved Countdown Page albums in the platform’s history, with more than 5 million presaves. The service has since expanded promotional partnerships tied to the album, including fan events and interactive experiences. For BTS, the explosive debut marks more than a successful comeback. It confirms that after years of solo activities and military service, the seven-member group remains one of the few acts in the world capable of turning a new album into an immediate global event. “안녕 Seoul, we’re back,” leader RM declared, stepping onto the stage at Gwanghwamun Square on Saturday night, a day after the album release, as the group returned before a global audience streaming live on Netflix. The choice of venue — a 600-year-old civic and historical landmark — turned the comeback into something larger than a concert: a statement of identity. After nearly four years apart due to military service, the seven members stood together again, anchoring their return in the symbolic heart of Korea. They opened with “Body to Body,” the first track of Arirang, a declaration set to a pulsating beat — “Born in Korea, playing for the world.” The performance seamlessly wove in traditional “Arirang” motifs, delivered by musicians in hanbok, linking the group’s global rise to Korean cultural roots. From there, the show moved between reinvention and legacy. “Hooligan” showcased sharp, theatrical choreography with masked dancers, while “2.0” leaned into a stripped-down, confident hip-hop groove. Even with RM seated at times due to an ankle injury, the group’s stage command remained intact — a reminder that absence had not dulled their edge. Mid-set, BTS emphasized the album’s direction. “We wanted to show the most honest side of the seven of us,” SUGA said, describing Arirang as a “more mature and evolved” BTS. Jungkook acknowledged the pressure of returning, but added, “Being here in front of you all, it feels great.” That evolution played out sonically. Tracks like “SWIM” introduced fluid, expressive choreography, while “Like Animals” and “Normal” shifted into a more introspective, soft-rock tone, addressing the emotional toll of global fame. BTS did not abandon their past. Hits such as “Butter,” “MIC Drop,” and “Dynamite” brought a surge of collective memory, bridging eras and reaffirming their global reach. The night closed with “Mikrokosmos,” a tribute to fans — a fitting finale for a comeback defined as much by reunion as reinvention. Netflix has yet to reveal the global viewership of the livestream. 2026-03-22 09:51:08
  • OPINION: A century show, carried with care
    OPINION: A century show, carried with care SEOUL, March 22 (AJP) -It was billed as a comeback. It became something larger: a test of scale, identity and control — and, ultimately, a quiet assertion of how far K-pop, and Korea, have come. BTS returned to Gwanghwamun Plaza not just as artists resuming a career, but as men who had completed a national duty and reassembled a global phenomenon. Thirteen years into their journey, the performance was less about proving relevance than about defining legacy. The numbers alone strained belief. Roughly 40,000 filled the tightly managed square, while tens of thousands more watched from surrounding streets and screens. Beyond Seoul, audiences in 190 countries tuned in via Netflix, turning a historic civic space into a synchronized global venue. Yet scale was not the defining feature. Control was. Nearly 15,000 personnel — an extraordinary deployment — managed the crowd with strict routing, metal detectors and enforced movement through narrow corridors. The experience, at times, felt excessive, even rigid. Fans waited, shuffled, and surrendered spontaneity to structure. And still, not a single major incident. In an era where mass gatherings often carry an undertone of risk, the absence of chaos became its own statement. Order was not incidental; it was engineered — and, notably, accepted. Fans from across continents complied with patience, even humor, some carrying trash bags and leaving the site as clean as they had found it. That discipline, as much as the music, defined the night. On stage, the narrative was deliberately balanced. New tracks from the fifth album ARIRANG — including “Body to Body” and “SWIM” — were interwoven with global hits like “Dynamite” and “Butter.” The message was continuity, not reinvention. RM, seated with an injured ankle, declared simply: “We’re back.” Jimin, voice wavering, offered the album’s thesis in a single line: “Keep swimming.” It was less spectacle than reassurance — a reaffirmation of presence after absence, of identity after uncertainty. The setting amplified that message. Framed by Gyeongbokgung Palace, and watched over by statues of King Sejong the Great and Admiral Yi Sun-sin, the performance fused heritage with hyper-modern production. This was not accidental staging. It was narrative architecture: a global act returning to a national axis. Even the broadcast carried symbolic weight. The live stream held steady under immense global traffic, marking a technical milestone for Netflix’s expansion into large-scale live music. The platform proved it could handle not just content, but simultaneity — a crucial distinction in the evolving competition for live audiences. There were imperfections. Safety protocols thinned out visible crowd density on screen, muting some of the visceral energy that defines concerts. Subtitles lagged, and the user interface occasionally fell short of the production’s visual ambition. But these were, in essence, second-order problems — the kind that emerge only after first-order challenges have been solved. And that is the point. What unfolded at Gwanghwamun was not merely a concert. It was a demonstration: that a dense urban core can host a massive live event without disorder; that a global fandom can self-regulate; that a cultural product can integrate tradition, technology and scale without losing coherence. K-pop has long excelled at spectacle. What it showed here was something subtler — governance. The century-defining aspect of the show was not its size, nor even its global reach. It was the way it was carried out: with restraint, coordination and a collective awareness that the moment was bigger than any individual. In the end, the loudest message was delivered quietly. Not just that BTS is back. But that the system around them has matured. 2026-03-22 09:25:15
  • BTS Live: Packed, pushed, imperfect, yet orderly for BTS moment
    BTS Live: Packed, pushed, imperfect, yet orderly for BTS moment SEOUL, March 21 (AJP) -Two hours before BTS’s comeback concert, hundreds of fans without tickets for the free reserved seats had already formed tightly packed lines, hoping they would lead as close to the stage as possible beyond the police fence. The official seating at Gwanghwamun Plaza totaled 22,000, divided into Zone A for standing, Zone B for reserved seating and Zone C for additional seats. The rest were left to watch from around the plaza. Of those, 15,000 seats vanished almost instantly when online booking opened on Feb. 23, followed a week later by another 7,000 standing tickets. Police estimated that as many as 260,000 people could gather from the stage area to Sungnyemun, making it the largest crowd in central Seoul since the 2002 World Cup street cheering, when 200,000 to 250,000 people filled the area. Officers repeatedly urged pedestrians to keep moving whenever foot traffic slowed. “You cannot stand here. Please move,” they said in Korean, while foreign visitors were met with a constant refrain of “Move, move!” Access to Gwanghwamun Plaza was restricted to 31 gates equipped with metal detectors to block hazardous items, with police special forces also deployed inside. As crowds swelled, some gates were temporarily closed. When frustrated citizens protested, officers redirected them, warning that certain entry points were already overcrowded. Fans who failed to secure tickets adopted their own strategies to claim the best possible viewing spots. Some brought newspapers to sit on, others folding fishing stools. Even benches became contested territory. One concertgoer let out a sigh after losing a hard-won seat during a brief trip to the restroom. In front of the Kyobo Life building, some spectators sat on the pavement and stretched out their legs, prompting police to ask them to move for safety reasons. Near the KT building, there was not even room to sit, leaving fans standing for hours. The lines stretched endlessly, and many were not even sure where they were heading. After nearly an hour, the flow of people spilled into City Hall Plaza — a walk that would normally take 15 minutes. Hundreds, who thought they were heading toward Gwanghwamun, settled instead in front of giant outdoor screens. Those inside the perimeter faced their own constraints. Entry required arrival by 5 p.m., three hours before the concert, and all food except a bottle of water was confiscated. Those in standing zones hesitated to leave even for the restroom, fearing they would lose their hard-earned spots. An AJP reporter inside also reported intermittent internet outages as networks became overloaded. Still, for many, the experience was worth it. Paula, 27, from Chile, who had attended BTS’s last concert before the members began their military service, said the decision was simple. “I could watch it on Netflix, but I wanted to hear their voices in person.” Nearby cafés were already filled with fans waiting with BTS content playing on their screens. She and a Spanish friend she had met just 15 minutes earlier were simply hoping to catch even a partial view. “I just want to be part of this historic moment in a historic place,” she said. Drifting farther away from the venue with each police-guided step, Lil Reinhart, 21, from Germany, found herself pushed toward the outer edges of the crowd. Yet she had come anyway. “At least you can hear their real voice,” she said, her breath visible in the cold after six hours of waiting on the street. It was her first time traveling abroad alone. She booked her flight two months earlier, paying around 800 euros — well above the usual 500 — for what she called a “once-in-a-lifetime event.” “This kind of comeback won’t happen again,” she said. “Not with this many people, live in front of you.” Her determination was shaped by disappointment. She had failed to secure tickets for BTS’s Germany tour, an experience she described as “strong disappointment.” This time, she was not willing to miss it entirely. “I really wanted to see them at least once in my life.” Even as access to the venue became effectively impossible and the crowd was steadily pushed farther away, she stayed. The plan, if there was one, was simple: wait and hope. “Somewhere,” she said, “where I can at least hear their voices.” “I think as soon as I see them,” she said, “I’ll just be like — oh my gosh.” 2026-03-21 19:32:06