Woori Bank Expands AI Banker, Turns Unstructured Data Into Usable Assets Woori Financial Group is accelerating its push to embed artificial intelligence across management and operations as part of its AI transformation, known as AX. Woori Bank said it is the first in South Korea’s financial sector to pursue “assetization” of unstructured data. The bank holds large volumes of unstructured information — including financial product materials, work rules, official notices and reports — that has been difficult to use systematically. By collecting, refining and structuring that data into formats AI can learn from, employees can now search for and use needed information more quickly. Building on that data, Woori Financial developed a generative AI customer service tool called “AI Banker.” The group is applying generative AI to tasks such as knowledge search, checking internal rules, drafting corporate analysis reports and supporting customer consultations to improve efficiency. The group has also introduced a “deep research” function that automatically generates reports using internal data. It has advanced to the point of gathering and analyzing relevant data on an employee-requested topic and delivering it in report form. Woori Financial is also upgrading customer-facing services, expanding generative AI consultations from deposit and savings products to loans, subscriptions and other financial products. For loan consultations, it said the service has evolved to support the broader decision-making process by building a consultation flow that reflects a customer’s goals and conditions. * This article has been translated by AI. 2026-03-18 18:05:25

Hana Bank Automates Marketing and FX Reviews to Boost Efficiency Hana Bank said it is expanding the use of artificial intelligence across operations, from branch sales to customer service. To raise marketing productivity for branch staff, the bank introduced an AutoML (Auto Machine Learning)-based service that recommends marketing targets. It goes beyond product suggestions by analyzing each customer’s preferences and financial usage patterns to propose the most effective marketing approach. The bank is also applying AI to foreign exchange work. It said it can automatically draft initial opinions for spot FX limit applications, aiming to improve both processing speed and accuracy. An AI asset-diagnosis service linked to its MyData platform is designed to help branch employees provide more precise wealth-management consulting. Customer-facing AI services are also being upgraded. The bank’s AI service that predicts overseas remittance processing times is intended to reduce uncertainty over how long transfers will take by calculating multiple variables and providing an estimated time in advance. With foreigners accounting for more than 5% of South Korea’s population, Hana Bank said it is strengthening related services. One example is a real-time multilingual chat counseling service within the HanaEZ app, which uses multilingual AI to help foreign customers receive financial consultations and improve satisfaction among new users.* This article has been translated by AI. 2026-03-18 18:04:57

IBK Industrial Bank Expands AI Use, Automates Guaranteed-Loan Reviews IBK Industrial Bank of Korea is expanding its use of artificial intelligence by rolling out an in-house system across frontline operations. The bank said it built an AI model called ‘IBK GenAI’ to boost efficiency and productivity across the organization and is applying it broadly to day-to-day work. IBK GenAI is an internal large language model trained on the bank’s own data. It provides tailored AI environments by department and can instantly search and answer from 120,000 items of key business knowledge. It also offers 17 specialized services, including a letter-of-credit assistant. Head office and branch employees have used IBK GenAI to develop and deploy 249 customized services, the bank said, supporting more personalized workflow improvements. The bank is also applying AI to core lending operations, including guaranteed loans. In the guaranteed-loan process, it has automated AI reviews and approval work that had been handled manually, reducing repetitive tasks for staff. When issuing AI-based guarantees, the system automatically recommends internal products that match special contract terms, improving branch efficiency. An IBK official said the bank plans to pursue internal and external innovation so that, through a broad AI transformation, AI becomes embedded across operations — including work processes, decision-making systems and risk management — beyond being used as a simple tool.* This article has been translated by AI. 2026-03-18 18:04:16

NH NongHyup Bank Launches AI Service to Automatically Request Loan Rate Cuts NH NongHyup Bank said it has launched and is operating an artificial intelligence-based service that automatically applies for loan rate reductions on behalf of customers, allowing financial consumers to exercise their right to request a lower rate without a separate application process. The bank said its "AI Loan Rate Care" service uses AI to submit requests to cut interest rates for customers who hold loans. The right to request a rate cut allows borrowers to ask for a lower loan rate when their credit conditions improve, such as through higher income or better creditworthiness. The system has been criticized for low usage because many consumers are unaware of it and the application process can be cumbersome. In December last year, the Financial Services Commission designated a MyData-based proxy service for rate-cut requests as an "innovative financial service" as part of efforts to expand inclusive finance. MyData is a system that lets individuals transmit their personal data to a destination of their choice and manage and use it based on their own decisions. NongHyup Bank said the core of its service is that AI analyzes customers' asset and debt information using MyData and, when conditions for a rate cut are met, exercises the right on the customer's behalf. NH MyData users can access the service after giving one-time consent for proxy applications through NH All One Bank or NH Smart Banking. After that, if the AI determines there is a possibility of a rate cut, it automatically submits rate-cut requests for loan accounts at each financial institution without any additional application, the bank said. * This article has been translated by AI. 2026-03-18 18:03:47

Hyundai Motor Group Chairman Chung Euisun’s 2025 Pay Totaled 17.46 Billion Won, Up 51.6% Hyundai Motor Group Chairman Chung Euisun received total compensation of 17.461 billion won last year, the company disclosed.  According to Hyundai Motor’s annual business report filed on Tuesday, Chung received 9.001 billion won from Hyundai Motor, including 4.5 billion won in salary and 4.501 billion won in bonuses and other income. That was up 1.914 billion won, or 27.0%, from 7.087 billion won a year earlier. Chung also received 5.4 billion won from affiliate Kia and 3.06 billion won from Hyundai Mobis. It was the first time he received compensation from Kia, the filing said. With Kia’s pay included, Chung’s total rose 5.943 billion won, or 51.6%, from 11.518 billion won the previous year. Hyundai Motor said the compensation reflected its executive pay table and factors including duties and rank, tenure, leadership, expertise and contribution to the company. Hyundai Motor Vice Chairman Jang Jaehoon received 5.416 billion won in total compensation last year, up 59.3% from the year before. Jose Munoz, who has served as Hyundai Motor’s first foreign CEO since last year, received 9.729 billion won, up 242.7% from 2.839 billion won in 2024. Based on Hyundai Motor compensation alone, Munoz received more than Chung.  2026-03-18 17:57:30

Korea Zinc Expands Ultra-Pure Sulfuric Acid Output for Semiconductors, Eyes U.S. Hub Korea Zinc said March 18 it is producing ultra-high-purity, semiconductor-grade sulfuric acid by refining sulfur dioxide (SO₂) generated in its zinc and lead smelting process, and plans to expand annual capacity to 320,000 tons starting in the second half of this year. The company also said it will build a production line in the United States. After Chairman Choi Yun-beom took office, the company has pursued efficiency improvements and investment to expand production lines. It now operates 19 lines at its Onsan smelter with annual sulfuric acid capacity of 280,000 tons. Korea Zinc said it has been expanding since late 2024 and plans further additions to raise annual capacity to 500,000 tons. “As the largest supplier of semiconductor sulfuric acid in Korea, we are supporting the semiconductor industry,” the company said. It added that after building an integrated smelter in the United States in 2029, it plans to help stabilize supplies for Korean chipmakers operating there and strengthen its role as a global supply hub. Korea Zinc also pointed to growing concerns about sulfuric acid supply amid the impact of the U.S.-Iran war. It said its semiconductor-grade sulfuric acid is produced through an integrated smelting process rather than oil refining, allowing it to supply the product more steadily outside the effects of the war and potential disruptions such as a closure of the Strait of Hormuz. Semiconductor-grade sulfuric acid is a key material used in wafer cleaning to remove impurities. The company said this step accounts for one-third of the overall cleaning process. As circuits become more miniaturized, it said, impurity tolerances have tightened and the need for stable purity and quality has increased because wafer contamination directly affects yield and reliability. Korea Zinc said it covers more than about 60% of domestic demand for semiconductor-grade sulfuric acid and supplies about 95% of its output to major chipmakers in South Korea. It also supplies global semiconductor manufacturers in Japan and Singapore. The company said it plans to build a semiconductor-grade sulfuric acid production line at its U.S. integrated smelter, reviewing annual capacity of about 100,000 tons. It plans to start production with the smelter’s trial operation in 2029, aiming to supply production bases of global semiconductor companies in the United States. A Korea Zinc official said demand is expected to keep rising as competition in AI intensifies and fabs expand globally. The official said the company will use its accumulated ultra-high-purity sulfuric acid technology to support supply-chain stability while expanding those capabilities into global markets and strengthening its position in semiconductor materials supply chains.* This article has been translated by AI. 2026-03-18 17:56:09

BTS Live D-3: Stage is shaping up fast SEOUL, March 18 (AJP) - The mega stage for BTS comeback show at Gwanghwamun Square is quickly taking shape, even under rain on Wednesday. Roads around Gwanghwamun will be closed on the day of the performance, and access to nearby subway stations will also be limited. Boarding and alighting will be suspended at City Hall Station on Lines 1 and 2, Gyeongbokgung Station on Line 3, and Gwanghwamun Station on Line 5. Major cultural facilities near Gwanghwamun, including Gyeongbokgung Palace and the National Palace Museum of Korea, will be temporarily closed. Meanwhile, about 20 major landmarks across Seoul are set to be illuminated in purple to mark the performance. 2026-03-18 17:55:21

CDMO Market Heats Up as Drugmakers Compete on Development Know-How, Not Just Capacity Contract development and manufacturing organizations, or CDMOs, are expanding rapidly beyond contract manufacturing into research and development, but industry officials say adding facilities alone is unlikely to secure an edge. They note that competition for orders is shifting from simple production pricing to development capabilities, and that as the market grows, specialization is increasingly determining winners and losers. Industry officials said March 18 that CDMOs provide a high-barrier service model, handling biopharmaceutical R&D, clinical production and commercial manufacturing for clients that lack sufficient production capacity. The business requires advanced process technology, skilled workers and the ability to meet strict regulatory requirements. Lee Seung-gyu, vice chairman of the Korea Bio Association, said companies must realistically assess whether they can endure the early years after building a CDMO plant. “After building a CDMO factory, you have to keep it going for three to five years,” Lee said. “CMO is about manufacturing capability, but CDMO also requires development capability. You need a clear strategy on what area to focus on.” The sector also tends to generate follow-on deals once a relationship is established, prompting analysis that CDMOs must move beyond simple outsourced production and become strategic partners across the full drug development process to survive. Jeong Yun-taek, head of the Korea Pharmaceutical Industry Strategy Institute, urged companies to strengthen expertise in specific high value-added technologies rather than broad, general-purpose offerings. He said the ability to provide end-to-end services — from process development and analytical method development to clinical and commercial production — will be a key differentiator. Traditional drugmakers are also entering CDMO businesses by leaning on their strengths. Boryung, citing production and quality capabilities built in oncology drugs, signed a CDMO contract last year with Zuellig Pharma tied to supplying the cytotoxic anticancer drug Alimta (pemetrexed) to seven Southeast Asian countries. The company plans to begin supplying the product to seven countries, including the Philippines, Thailand and Malaysia, starting in 2027. ST Pharm, an affiliate of the Dong-A Socio Group, is focusing on an oligonucleotide CDMO business, a key raw material for ribonucleic acid, or RNA, medicines. It completed construction of a “second oligo building” at its Banwol campus in Ansan, Gyeonggi Province, as it seeks to expand global orders. Kyongbo Pharmaceutical, a subsidiary of Chong Kun Dang, is building an antibody-drug conjugate, or ADC, plant in Asan, South Chungcheong Province.* This article has been translated by AI. 2026-03-18 17:54:53

Korean Biopharma CDMOs Race to Expand Capacity to Lock In Long-Term Clients The contract development and manufacturing organization (CDMO) market is heating up again as biopharma companies move to expand production capacity to secure long-term clients. Because biologic drug development takes years and customers typically commit volumes for extended periods once a partner is chosen, capacity has become a key battleground. According to the Korea Health Industry Development Institute, the global pharmaceutical CDMO market is projected to grow 9.7% annually, to $310.5 billion (465.4395 trillion won) in 2029 from $195.9 billion (293.65 trillion won) in 2024. The institute cited rising R&D costs and increasing complexity in new-drug development, which are pushing drugmakers to outsource more work. CDMO projects are widely seen as long-cycle businesses, often spanning about a decade from early research and development to commercialization. Many programs stay with the same partner from candidate discovery through nonclinical and clinical stages and into commercial production, making it possible to win long-term, repeat business once a contract is secured. Industry expectations are also being shaped by a reshuffling of global biopharmaceutical supply chains. With the U.S. Biosecure Act aimed at curbing reliance on Chinese CDMOs and global drugmakers expanding outsourcing, demand is increasingly turning to Korean companies. The industry says supply-chain diversification by U.S. and European big pharma is structurally expanding order opportunities for Korean CDMOs. Longer-term growth drivers remain clear. The Korea Bio Association estimates that about $400 billion (592 trillion won) worth of drug patents will expire over the next decade. With biologic patent expirations expected to accelerate around 2030, the industry expects continued moves to secure manufacturing facilities and partners in advance. Korean CDMOs are already accelerating expansion. Samsung Biologics is pushing ahead with plans to build a sixth plant at its second Bio Campus in Songdo, Incheon, pending final board approval. After completing its fifth plant, the company secured 785,000 liters of capacity; with the sixth plant, total capacity is projected to reach about 965,000 liters by 2027. The company is also expected to pursue global orders through its Rockville, Maryland, plant with 60,000 liters of capacity. Celltrion has moved aggressively to expand global capacity after acquiring a manufacturing facility in Branchburg, New Jersey, last year. It plans to raise that site’s capacity to 132,000 liters through phased expansion, with the industry expecting synergies with its existing biosimilar lineup. Celltrion also has 250,000 liters of capacity across its Songdo plants 1, 2 and 3, and its cumulative CMO order backlog for the first quarter has already topped 1 trillion won. Lotte Biologics is also speeding construction of the first plant at its Songdo Bio Campus. The facility, designed to produce antibody drugs, is targeted for completion within the year, with commercial production slated to begin in the first half of next year. Once operations ramp up, the company says total capacity, including its Syracuse, New York, plant, is expected to reach about 160,000 liters. A company official said the CDMO business is structured so that once a customer is secured, orders tend to continue over the long term. The current expansion race, the official said, is a “race against time” to lock in growth for the next decade, adding that the key test for Korean CDMOs will be whether they can draw momentum from the U.S. Biosecure Act and the broader supply-chain realignment.* This article has been translated by AI. 2026-03-18 17:54:00

NK launches development plan to turn Pyongyang into a "world-class" city SEOUL, March 18 (AJP) - North Korea has launched a new phase of its ambitious housing construction and urban redevelopment plan to transform its capital of Pyongyang into a “world-class city,” state media reported. Top officials, including the newly-appointed ruling Workers' Party of Korea construction chief Kim Jong-gwan, held a launch ceremony and exhibition of equipment Tuesday to mark the start of the fifth phase of the Hwasong district development in the capital. The event showcased machinery, repair tools, and spare parts prepared by construction units, the state-run Korean Central News Agency reported. The Hwasong district has been a centerpiece of the state’s housing drive. From 2022 to 2025, some 40,000 new housing units were reportedly built in four development phases. Supreme Leader Kim Jong-un last month attended a groundbreaking ceremony for the fifth phase, signaling a shift in focus from meeting basic housing demand to reshaping the capital’s overall urban landscape. At the 9th party congress in February, Kim called for sustained efforts to transform Pyongyang into a city with the “dignity and character of a world-class metropolis.” Hwasong should become a model administrative district with fully integrated political, economic, and cultural functions over the next two years, he said. Residents have begun moving into 10,000 newly completed apartments, according to state media. The party told the congress it aims to build “hundreds of thousands” of housing units over the next five years, a substantial increase from the 50,000-unit target announced at the previous congress in 2021. That earlier goal was allegedly surpassed, with state media reporting that about 60,000 homes were completed in Pyongyang. The latest plans also include rural construction, with the party saying more than 110,000 farm households have already been provided with new housing. The emphasis on construction has also been reflected in personnel changes. Kim Jong-gwan, a former vice premier responsible for construction, was elevated to his current post as the top party construction official during the congress. In addition, a new sector-specific consultation body for construction was established. 2026-03-18 17:51:18