Culture minister vows crackdown on BTS concert scalping; says Netflix stream was agency’s call Culture, Sports and Tourism Minister Choi Hwi-young said March 4 that the government would step up efforts to prevent ticket scalping and price gouging tied to BTS’ planned “Gwanghwamun comeback” concert. Speaking at a full meeting of the National Assembly’s Culture, Sports and Tourism Committee, Choi responded to questions from Rep. Lee Gi-heon of the Democratic Party. Lee said hotel rooms near Gwanghwamun that had cost 250,000 won were being raised to 800,000 won, and that some operators were canceling existing reservations and reselling rooms at sharply higher prices. “Scalping is also an emergency,” he said. The BTS Gwanghwamun comeback concert is free, but scalpers have been selling access through practices such as transferring IDs and wristbands. Choi said authorities were “actively monitoring and cracking down,” but acknowledged limits. “We will work aggressively during the remaining period so there are no unfortunate incidents,” he said. Lawmakers also criticized Netflix’s exclusive live broadcast of the concert. Rep. Lim Oh-kyeong of the Democratic Party said it was contradictory to stress fostering domestic streaming platforms while a major national event’s rights went to a foreign company. Choi said the decision was made by the group’s agency after weighing various factors, and that it was difficult for the government to intervene. He added that domestic platforms appeared to face limitations in carrying the broadcast, and said he was concerned the ministry’s views were not more fully reflected. Separately, lawmakers urged stronger action against so-called “one-click publishing,” in which generative AI is used to produce thousands of e-books in a short time. Under the current legal deposit system, there are no standards to identify AI publications, no labeling requirement and no separate management framework. The ministry established a “Culture AI Policy Division” last March to oversee AI-related work. Rep. Kim Jae-won of the Rebuilding Korea Future Party said the government should define the institutional status of AI-generated works and create a comprehensive plan covering eligibility for public support programs and measures to address market distortion and overproduction. Choi said books “churned out by AI” should be excluded from legal deposit, and said the ministry was strengthening monitoring and pursuing institutional changes to create a legal basis. He said a comprehensive plan was needed so AI could be used to support growth in culture and the arts, and that the new dedicated unit would lead the work. In another exchange, lawmakers called on government officials to join efforts after President Lee Jae-myung put up for sale a home he had lived in for 29 years as part of a push to normalize the real estate market. Rep. Min Hyung-bae of the Democratic Party said Choi and his spouse owned an apartment in Anyang and a multi-family home in Pyeongchang, and that Choi’s mother and children held commercial and single-family properties. Min also said nine of the heads of 16 agencies under the ministry owned two or more properties, and urged a ministry-level review. Choi said all of the properties he owns are primary residences, adding that the ministry was reviewing the issue and that he agreed with the intent.* This article has been translated by AI. 2026-03-04 11:51:18

BOK issues verbal intervention amid near-4% slide in won since war outbreak SEOUL, Mar 04 (AJP) - The Bank of Korea (BOK) issued a verbal intervention Wednesday, pledging a “timely” response after the Korean won briefly touched crisis-era levels around 1,500 per U.S. dollar amid escalating tensions in the Middle East and rising oil concerns. The warning came after the dollar in the offshore market climbed above the 1,500-won mark overnight — the first time since March 2007 in the aftermath of the global financial crisis. BOK Governor Rhee Chang-yong postponed his departure for Thailand, where he was scheduled to attend an International Monetary Fund conference, and instead presided over an emergency meeting at the central bank. “Volatility in financial markets — including foreign exchange, interest rates and equities — may be inevitable depending on developments in the Middle East,” the bank said in a statement after the meeting. The BOK warned it would respond to “excessive movements” that diverge from economic fundamentals and work with the government to correct any “one-sided” market bias. Seeking to calm investors, the central bank said Korea’s financial system remains liquid and that key external risk indicators — including sovereign borrowing spreads and credit default swap (CDS) premiums — remain stable. As of Tuesday, the CDS premium stood at 25.555 basis points, up 0.53 percent from the previous day. Although the premium had declined for seven consecutive trading days since Feb. 23, it remained near the psychological stability threshold of 25 basis points. By comparison, during the global financial crisis CDS spreads fluctuated around 600 basis points. As of 11:11 a.m., the Korean won traded at 1,480.30 per dollar, marking a decline of nearly 3.9 percent from its Feb. 26 close before the weekend attacks on Iran. 2026-03-04 11:32:25

Asian markets tank; Seoul plunges more than 8% as won hovers near crisis-era levels SEOUL, March 04 (AJP) - Asian markets tumbled Wednesday as escalating tensions in the Middle East rattled investors, with Seoul stocks plunging more than 8 percent and the Korean won sliding to near crisis-era levels. A pledge by the United States to provide security escorts and insurance guarantees for tankers navigating the Strait of Hormuz did little to reassure investors. Markets across the region remain highly sensitive to the waterway, through which a large share of Middle Eastern oil exports must pass. South Korea’s benchmark KOSPI and the tech-heavy KOSDAQ both plunged more than 8 percent. In just two sessions since the outbreak of war, the KOSPI has lost more than 15 percent, triggering the sidecar trading curb for two consecutive days. Overnight, U.S. equities also closed lower as geopolitical risks in the Middle East continued to weigh on sentiment. The Dow Jones Industrial Average fell 0.83 percent, while the S&P 500 and Nasdaq Composite declined 0.94 percent and 1.02 percent, respectively. Investor anxiety intensified after Iran moved to block the Strait of Hormuz, sending oil prices sharply higher for a second straight day and raising fresh concerns over global inflation. On the Seoul bourse, individual and institutional investors were net buyers of 539.6 billion won ($364.6 million) and 403.3 billion won, respectively, while foreigners offloaded a net 996.1 billion won worth of shares. Major sectors — including chips, autos, batteries and biopharmaceuticals — fell sharply. Refinery stocks, which had surged a day earlier on expectations of higher refining margins, also retreated. SK Innovation dropped 9.55 percent to 118,400 won, while GS Holdings fell 4.40 percent to 67,400 won. Defense stocks showed mixed performance amid lingering geopolitical demand. Hanwha Aerospace slid 9.15 percent to 1,301,000 won and Hyundai Rotem fell more than 10 percent to 222,000 won. LIG Nex1 bucked the trend, rising 10.89 percent to 733,000 won on expectations of stronger demand for its Cheongung-II air defense system, while Hanwha Systems gained 3.41 percent to 151,700 won. Among heavyweight stocks, Samsung Electronics fell 2.56 percent to 190,100 won and SK Hynix declined 2.88 percent to 912,000 won. Hyundai Motor dropped 4.12 percent to 570,500 won, while affiliate Kia slid 4.99 percent to 173,200 won. LG Energy Solution declined 3.94 percent to 377,500 won and Samsung Biologics retreated 3.93 percent to 1,615,000 won. Financial stocks also moved lower. KB Financial Group fell 4.63 percent to 146,400 won, Shinhan Financial Group slipped 4.65 percent and Mirae Asset Securities declined 5.56 percent to 62,900 won. Entertainment stocks traded mixed, with HYBE down 4.73 percent and JYP Entertainment falling 5.22 percent, while YG Entertainment edged up 1.18 percent. The Korean won opened 12.9 won weaker at 1,479.0 per dollar and briefly climbed to 1,482.20 before easing to 1,471.0 after the Bank of Korea said it would closely monitor excessive volatility and respond if necessary in coordination with the government. The currency later weakened again to around 1,481.90 as of 10:43 a.m. 2026-03-04 11:32:17

Trump assures US Navy will step in to protect tankers in Strait of Hormuz SEOUL, March 4 (AJP) - The U.S. Navy will escort tankers through the Strait of Hormuz "if necessary," U.S. President Donald Trump said on Tuesday, amid growing concerns that the ongoing Middle East conflict could disrupt oil shipments through the strategically vital waterway. "If necessary, the United States Navy will begin escorting tankers through the Strait of Hormuz, as soon as possible," Trump wrote on his own social media platform Truth Social. "No matter what, the United States will ensure the FREE FLOW of ENERGY to the WORLD." The remarks come as last Saturday's U.S.‑led airstrikes against Iran under the military operation dubbed "Operation Epic Fury" entered their fourth day, intensifying fears of major disruptions to oil shipments through the Strait of Hormuz, a critical chokepoint for roughly one‑fifth of the world's oil supply. He also wrote, "Effective IMMEDIATELY, I have ordered the United States Development Finance Corporation (DFC) to provide, at a very reasonable price, political risk insurance and guarantees for the Financial Security of ALL Maritime Trade, especially Energy, traveling through the Gulf. This will be available to all Shipping Lines." Trump also said at the White House earlier in the day that he expects oil prices to fall once the military operation against Iran ends, reassuring reporters who were concerned about current market volatility. "If we have a little high oil prices for a little while, but as soon as this ends, those prices are going to drop, I believe, lower than even before," he said. Meanwhile, Iran International, a Persian‑language outlet based in London, reported that Iran's late supreme leader Ali Khamenei's second-eldest son Mojtaba Khamenei has been tapped as his successor. 2026-03-04 11:08:06

SBS Leads Ratings for Two WBC Tune-Up Broadcasts SBS’ broadcasts of World Baseball Classic tune-up games topped ratings again, reinforcing the network’s long-running reputation for baseball coverage. The broadcast of the March 3 game against Orix drew a peak household rating of 1.3% despite airing in a weekday daytime slot. SBS also ranked No. 1 in the advertiser-coveted 20-49 demographic rating and in total viewers, leading rival networks by nearly twofold (Nielsen Korea, Seoul metropolitan area). Much of the attention centered on analyst Lee Dae-ho’s candid, detailed commentary. “I will meet Noh Si-hwan in person. If I can help the team even a little,” Lee said on air. From the booth, Lee addressed Noh’s recent hitting struggles with advice that went beyond mechanics. As Noh appeared to have trouble with timing during the game, the broadcast revisited Noh’s earlier remark that he had “found the feel.” Lee responded by reflecting on his own career. “Baseball is really hard. In fact, I played 22 years as a pro, and until I retired I never once said, ‘I found the feel,’” Lee said. The comment framed even elite performance as a constant challenge and sought to ease the pressure on the younger hitter. After fellow analyst Lee Soon-cheol asked him to encourage Noh, Lee said he would speak with him directly, offering support ahead of the tournament proper. While Noh was quiet at the plate, Kim Do-young powered the lineup with home runs on consecutive days. After Kim hit a three-run homer in the top of the second inning, Lee said, “It looks like he hits better than I did in my prime. It’s impressive he can drive a mistake pitch like that.” Lee also shared his own experience while offering encouragement during home runs by Ahn Hyun-min and Shea Whitcomb. When discussion turned to pitching decisions and the strike zone, Lee drew on his experience as a high school pitcher. “Pitchers are stubborn, but umpires are stubborn, too. You have to learn to use that quickly,” he said, offering a practical point for younger players preparing for the main event. South Korea’s national team is set to open the tournament against the Czech Republic on March 5. SBS said it will cover the WBC from Japan starting tomorrow, with analysts Lee Dae-ho and Lee Soon-cheol and play-by-play announcer Jung Woo-young.* This article has been translated by AI. 2026-03-04 11:06:00

Culture Minister Choi Hwi-young says talks underway to protect Olympic viewing rights Culture, Sports and Tourism Minister Choi Hwi-young said Tuesday that his ministry is discussing institutional measures with the Korea Communications and Media Commission amid controversy over the public being deprived of access to watch the 2026 Milan-Cortina Winter Olympics. Choi made the remarks during a briefing to the National Assembly’s Culture, Sports and Tourism Committee, responding to questions from Democratic Party lawmaker Cho Kye-won. Cho warned that disputes over Olympic broadcast rights could restrict the public’s ability to watch. He said the Milan Olympics opening ceremony drew just a 1.8% rating, calling it a bleak result and attributing it to the absence of terrestrial broadcasting. Cho added that JTBC has secured exclusive rights to broadcast the Olympics from 2026 to 2032 and the World Cup through 2030. With a single channel holding the rights, he said, the public lost chances to cheer, citing cases in which athlete Choi Ga-on’s effort was reduced to a single line of on-screen text. Some countries, including the United Kingdom and Australia, regulate major international sports events such as the Olympics to prevent pay-TV broadcasters from monopolizing rights and to protect public access. Choi said JTBC’s coverage falls under the commission’s rules on universal access, but acknowledged there were limits to nationwide viewing. “This has made us keenly aware of the seriousness,” he said, adding that discussions are underway with the Korea Communications and Media Commission on institutional safeguards. Lawmakers also raised concerns that Hallyu-related tourism is concentrated in the Seoul metropolitan area. Of the top 10 concerts by ticket sales in 2024, nine were held in the capital region, with the exception of Psy’s “Summer Swag” show in Busan. The imbalance has fueled calls to develop mid- to large-scale multipurpose arenas outside the capital region. Choi said the ministry is preparing to launch feasibility studies for such arenas outside the Seoul area to speed up the expansion of regional performance infrastructure. * This article has been translated by AI. 2026-03-04 10:54:17

Korea Music Performers Association Sees More Actors Join as OST Rights Gain Focus K-content is expanding its global reach, and the definition of a “music performer” is widening with it. What was long seen as the domain of singers now increasingly includes actors who sing on screen in dramas and films, especially as original soundtracks and film music are consumed worldwide through OTT services and streaming platforms. As songs from dramas and movies travel across borders, the work and rights of actors who perform those songs are drawing new attention. What was once treated as a directing device or fan service is increasingly viewed as standalone music content, and more actors are recognizing themselves as performers as well as actors. The shift is reflected in new members joining the Korea Music Performers Association, led by Chairman Lee Jung-hyun. Actor Shin Hyun-joon recently joined after releasing the album with Jung Joon-ho. He also drew attention last year when he sang the OST with fans at a fan meeting in Peru. Actor Byun Woo-seok, who played top star Ryu Sun-jae in tvN’s 2024 hit drama and sang the OST himself, has also become a member. Since last year, actors including Choo Young-woo, Lee Sun-bin, Jung Hae-in, Kim Min-seok and Cynthia have joined after performing songs in dramas and films. Industry officials say the trend reflects an evolving K-content business structure in which “performance” released through official recordings is increasingly treated as a specialized field and a right that deserves protection, regardless of how central music is to an actor’s career. “K-dramas and films’ global success is also raising the value and impact of OSTs,” said Kim Seung-min, the association’s executive director. “An actor’s song is no longer a simple add-on. It is independent content and an area of rights that must be protected. The recent expansion of our membership spectrum clearly shows this change.” Actors who join can receive neighboring-rights royalties and broadcast compensation for OSTs, insert songs and theme music they performed. Tracking and claiming usage across broadcasters, streaming services, IPTV and overseas platforms is, in practice, nearly impossible for individuals. The association manages domestic and international usage on performers’ behalf and handles rights administration. The association also pursues retroactive payments for past uses that occurred before membership, through negotiations with businesses, providing tangible benefits even to actors who participated in OSTs for works aired long ago. It also cites as a strength its 36 years of negotiating experience at home and abroad, which it uses to collect additional neighboring-rights royalties that individual performers may struggle to claim. Music-use revenue generated on YouTube, global OTT services and overseas streaming platforms is managed through reciprocal agreements with foreign performers’ organizations, the association said.* This article has been translated by AI. 2026-03-04 10:27:24

South Korea, Philippines agree to expand cooperation in emerging sectors SEOUL, March 4 (AJP) - South Korea has agreed to expand bilateral cooperation with the Philippines in emerging sectors for future growth, such as artificial intelligence (AI), shipbuilding, and nuclear energy, as part of the two countries' strategic partnership. During a summit between South Korean President Lee Jae Myung and Philippine President Ferdinand Romualdez Marcos Jr. in Manila on Tuesday, the two countries signed about a dozen memorandums of understanding (MOUs) to strengthen cooperation. In a joint statement after the summit, Lee stressed that the partnership would build on existing cooperation in trade, defense, and infrastructure, while expanding into new growth sectors. "We agreed to further strengthen cooperation based on the strategic partnership between the two countries," Lee said. Defense was a key area of cooperation, with South Korea's Defense Acquisition Program Administration signing a revised agreement with the Philippines on defense-related procurement. The agreement covers a broader range of areas, expanding the number of South Korean firms eligible for contracts to modernize the Philippines' military and strengthening financial support. The two leaders also discussed cooperation in nuclear energy, with Lee pointing out that South Korea is reviewing whether the Philippines' decades-long idled power plant in Bataan can be restarted. Lee also emphasized cooperation in shipbuilding, as South Korea and the Philippines rank second and fourth globally in terms of shipbuilding capacity, saying it "holds immense potential." Marcos welcomed Lee's initiative for bilateral cooperation, saying that the two nations continue to strengthen their partnership based on mutual trust, as the Philippines was South Korea's first Southeast Asian country to establish diplomatic relations, marking the 77th anniversary of bilateral ties this year. The two leaders also discussed regional security issues and expressed hope for swift stability in the Middle East after last Saturday's U.S.-led airstrikes on Iran. On Wednesday, Lee is scheduled to visit a Korean War memorial cemetery in Manila, where he will pay tribute to Filipino veterans, before attending other events with South Korean nationals residing there. He then returns home later in the day. 2026-03-04 10:26:46

Jeju Air Sees Spring Surge in Active Senior Travelers, With Demand Peaking in Q2 Jeju Air said Tuesday that demand among its travelers in their 60s and 70s — so-called “active seniors” — is concentrated in the second quarter. Based on an analysis of the past three years of data (2023-2025), the airline said the average number of passengers in their 60s and 70s in the second quarter was about 420,000, 21.3% higher than the third-quarter average of about 346,000. In March, when temperatures begin to rise, the average monthly passenger count was about 155,000, showing that travel demand picks up from early spring. The airline expects that spring travel demand among active seniors will remain steady this year. As of Tuesday, Jeju Air’s bookings for April and May stood at about 164,000 and 145,000, respectively, exceeding the past three-year monthly average for the second quarter. For overseas travel in the second quarter this year, the most popular route among active seniors was Incheon-Weihai, with about 24,000 passengers. It was followed by Busan-Taipei/Kaohsiung and Incheon-Qingdao, each with about 14,000 passengers, indicating strong demand for travel to Greater China. A Jeju Air official said demand appears to be driven by relatively reasonable second-quarter airfares and the ability to travel on a more relaxed schedule because crowds are typically lighter. 2026-03-04 10:18:38

Hansung Motor Launches Mercedes-Benz 'Last Golden Bell' March Promotion Hansung Motor, an official Mercedes-Benz dealer, said Tuesday it will run its March “Last Golden Bell” promotion marking the 140th anniversary of Carl Benz’s 1886 invention and patent application for the first automobile. For the first 140 buyers this month of key models including the Mercedes-Benz GLE 450, E 450 and A 220, the company will extend the standard three-year warranty by one year, for a total of four years. The offer is aimed at reducing maintenance and ownership costs and will end once the allotment is filled. Hansung Motor is also offering a weekend-only benefit for customers who sign contracts at showrooms on March 7-8 and March 14-15. Those buyers will receive a Mercedes-Benz mini travel bag. Customers who take delivery within March will be entered into a lucky-draw event, with 140 winners to receive prizes including Rimowa luggage, an LG air purifier and items from the official Mercedes-Benz collection. In addition, existing Hansung Motor customers who repurchase a vehicle will receive an extra 1% discount on all models during March, capped at 1 million won. “We prepared this promotion to provide customers with practical benefits and satisfaction in celebration of the 140th anniversary,” CEO Kim Marco said. “Since it is limited to March, we hope it will be a special opportunity.”* This article has been translated by AI. 2026-03-04 10:12:16