COFIX for New Loans Rises to 2.82% in February, Lifting Variable-Rate Mortgages The COFIX, a key benchmark for banks’ variable-rate mortgage loans, turned higher again after a one-month decline. The Korea Federation of Banks said Sunday that the new-loan COFIX for February came to 2.82%, up 0.05 percentage points from the previous month. The index had climbed for four straight months, from 2.52% in September last year to 2.89% in December, then fell in January by 0.12 percentage points — its first drop in five months — before rising again. Over the same period, the COFIX based on outstanding balances held steady at 2.85%, while the new outstanding-balance COFIX slipped 0.01 percentage points to 2.47%. COFIX is the weighted average interest rate on funds raised by eight South Korean banks. It moves up or down as rates on major funding products such as deposits and bank bonds change. The federation said borrowers considering COFIX-linked loans should fully understand how market rates move and choose loan products carefully. Commercial banks are expected to begin reflecting the newly released COFIX in variable-rate mortgages for new loans as early as March 17. At KB Kookmin Bank, the six-month variable mortgage rate tied to the new-loan COFIX will rise 0.05 percentage points, to 4.15% to 5.55% from 4.1% to 5.5%. Under the same benchmark, the rate on jeonse loans backed by a Korea Housing Finance Corp. guarantee will also increase to 3.85% to 5.25% from 3.8% to 5.2%. Woori Bank’s six-month variable mortgage rate tied to the new-loan COFIX will rise to 4.37% to 5.57% from 4.32% to 5.52%.* This article has been translated by AI. 2026-03-16 15:45:00

Korea Arts and Culture Education Agency Opens Applications for 2026 Online ArtE Academy The Ministry of Culture, Sports and Tourism and the Korea Arts and Culture Education Service said on 16 they have begun recruiting participants for the “2026 Online ArtE Academy,” a program designed to train arts and culture education professionals. Courses for arts educators include legally required training for school arts instructors and arts-and-culture education organizations, along with modules on domestic and international trends, case studies and how to plan education programs. The curriculum is intended to strengthen both fieldwork skills and planning capacity. Training for teachers focuses on examples of arts-and-culture education programs and planning methods that can be used in schools by grade level and art genre. It will be carried out in cooperation with the Ministry of Education’s General Training Institute and the National Institute for Central Education Training. Courses for administrative staff will center on policy trends in arts-and-culture education and core administrative competencies, aiming to improve understanding needed to run projects, support the field and respond in practice. Reflecting changes in the arts environment, the Online ArtE Academy will newly release 16 training courses: four on overseas cases, four collaborative courses with prominent artists and eight practical courses for professionals in after-school care programs. The overseas-case series will offer four video courses covering sound-based arts education and examples of using artificial intelligence, drawing on institutions such as France’s IRCAM and the Netherlands’ Muziekgebouw. For emerging arts educators, the academy will also introduce four “Artist Code” courses sharing the education philosophy and perspectives of well-known artists including Choo Soo, Choi Jeong-hwa, Eom Jeong-soon and choreographer Kim Seong-hoon. All courses are free. Starting in April, the academy will roll out topic-based recommended-course content and run participation programs such as course-registration events. Details are available on the Online ArtE Academy website and the agency’s official social media channels.* This article has been translated by AI. 2026-03-16 15:24:29

Airlines set to hike fuel surcharges amid rising oil prices SEOUL, March 16 (AJP) - Airlines are raising their fuel surcharges due to soaring oil prices amid the escalating conflict in the Middle East. Fuel surcharges are applied on both international and domestic flight routes based on changes in the average price of fuel traded on Singapore's spot market. According to aviation industry data released on Monday, the average price of Singapore jet fuel, known as MOPS, is projected to reach at least 300 cents per gallon for the period from Feb. 16 to March 15, up from 204 cents the previous month. It falls into level 18 on the 33-tier fuel surcharge scale, a jump of 12 levels from the current level of 6, the biggest jump since this scale was first implemented in 2016 and also the highest level since October 2022, when it reached level 17 at the height of Russia's war in Ukraine. Fuel surcharges imposed by airlines are expected to soar by more than threefold. For one-way tickets on Asiana Airlines, surcharges that ranged from 14,600 (US$9.93) to 78,600 Korean won this month, depending on flight routes, are set to jump to between 43,900 and 251,900 won next month. Flagship carrier Korean Air is expected to adjust its fuel surcharges for April next week, with a sharp increase likely unavoidable. 2026-03-16 15:02:22

BTS to Stage Drone Show, Citywide Events in Seoul for 'Arirang' Album Release BTS will turn Seoul into a citywide celebration around the release of its new album, ‘Arirang,’ with media facade displays, a drone light show and hands-on fan programs planned across major sites. The group on Monday posted details on the global fan platform Weverse for ‘BTS THE CITY ARIRANG SEOUL.’ The city project, branded ‘THE CITY SEOUL,’ will run from March 20 to April 19 across central Seoul, aiming to offer experiences available only during the limited period and at specific locations. On March 20, the album’s release day, large-scale events are scheduled back-to-back. Media facade shows will run from 7 p.m. at sites including Sungnyemun and N Seoul Tower. A drone light show is set for the sky over Ttukseom Hangang Park from 8:30 p.m. for about 15 minutes. The area around Gwanghwamun Square, where ‘BTS THE COMEBACK LIVE｜ARIRANG’ will be held, will also be filled with related programming. From 7 p.m. March 20 to midnight March 21, comeback content will be shown on large outdoor screens near the square. Music-themed light shows are also planned at Dongdaemun Design Plaza, or DDP, and at Banpo Bridge’s Moonlight Rainbow Fountain. The DDP program will run March 20 to April 12, and the Banpo Bridge fountain production will continue March 21-22. Interactive events include a ‘stamp rally’ mission at key hubs such as Yeouido, DDP and Shinsegae Square, where visitors collect stamps by checking in at locations around the city. From March 20-22, a ‘Love Song Lounge’ will operate at the event plaza of Yeouido Hangang Park, tied to the album’s global campaign phrase, “WHAT IS YOUR LOVE SONG?” Organizers said the space will feature music-based activities, busking and photo zones. From April 6-12, DDP Exhibition Hall 1 will be set up as ‘DDP ARMY Madang.’ From April 6-19, a ‘Love Quarter’ program will run around Cheonggyecheon and the Yongsan Station area, using light and video to project the album’s message onto settings such as stone walls, stairs and street trees. Organizers also plan tie-ins with mobility, lodging, finance and food-and-beverage partners to improve visitor convenience and extend the project into everyday settings. They said collaborations with new business areas will broaden the experience compared with earlier ‘THE CITY’ projects. Detailed schedules and program information are available on BTS’ Weverse channel and the official website. Some programs will require advance reservations. ‘BTS THE CITY ARIRANG’ is to roll out sequentially in major cities worldwide, starting in Seoul.* This article has been translated by AI. 2026-03-16 14:57:15

South Korea Launches ‘Dream Studio’ Visual Arts Program, Seeks 20 Regional Hubs The Ministry of Culture, Sports and Tourism and the Korea Arts & Culture Education Service said March 16 they will begin full-scale operations of “Dream Studio” as a regular program. To do so, they will accept applications from March 16 to April 15 to select 20 regional hub institutions to run the program nationwide. Dream Studio is a new project under the “Dream Arts Group,” introduced with a focus on visual arts, following the existing Dream Orchestra, dance troupe and theater troupe programs. After a yearlong pilot, it will shift to a regular program this year and expand nationwide. The program is designed to help children grow as creators who interpret and express the world. It will be based in artists’ studios or professional workspaces and support visual arts education across media including painting, sculpture, video and artificial intelligence. Eligible applicants include public institutions and incorporated organizations such as local cultural foundations and cultural facilities that can operate the program over the mid to long term. Applicants must secure a dedicated visual arts space, such as a workshop or studio, though operations may also be linked to private artists’ studios. The 20 selected hubs will receive continuous national funding of 100 million won through the third year, and up to 50 million won in years four and five, to encourage stable local settlement. From the sixth year, the plan calls for systematic growth support so local governments can operate the program independently. Separately, the ministry and the agency will run a pilot “Dream Arts Group Plus” program this year to offer broader arts experiences beyond single-discipline instruction. Centered on the Dream Orchestra, it will add new music fields such as Korean traditional music and choir, and expand participation from children and teens to include infants, toddlers and families, aiming to build a more comprehensive arts education environment for future generations. Applications for 10 operating institutions will be accepted from March 26 to April 23 from public institutions and incorporated organizations nationwide that run children’s and youth orchestras, including Dream Orchestra hubs. Selected institutions will receive about 100 million won each to operate new convergence programs combined with orchestras. More details will be posted March 26 on the agency’s website. Applications for Dream Studio will be submitted online via e-Nara Help Desk starting March 16. An online briefing for interested institutions and organizations will be held at 2 p.m. March 25. Details are available on the agency’s website. * This article has been translated by AI. 2026-03-16 14:42:17

NH NongHyup Financial to Open Marine and Aviation Industry Support Center NH NongHyup Financial Group said on the 16th it will establish a “NongHyup Financial Marine and Aviation Industry Comprehensive Support Center” to strengthen support for the marine and aviation industries in the country’s southeastern region. The move is part of the government’s “5 hubs, 3 special zones” balanced-growth policy. The center is scheduled to open in April in Changwon, South Gyeongsang Province, and is expected to serve as key infrastructure to help boost per-capita gross regional domestic product in the southeastern region. NH NongHyup Financial said it will bring together its affiliates — including banking, nonlife insurance, securities, capital and venture capital — to provide integrated financial services. Under the plan, the bank will handle lending and foreign-exchange services; the nonlife insurer will provide ship and cargo insurance; the securities unit will support corporate bond issuance, IPO underwriting and corporate finance; the capital unit will offer lending and industrial equipment leasing; and the venture capital arm will make equity investments in innovation-driven growth companies. The group plans to invest 5 trillion won over the next five years. NH NongHyup Financial said it will continue developing financial support models tailored to regional characteristics under the “5 hubs, 3 special zones” framework, drawing on its nationwide network of more than 1,200 offices. Chairman Lee Chan-woo said the new center is a proactive and essential step to advance both the balanced-development policy and the integrated goal of fostering advanced industries through “productive finance.” 2026-03-16 14:21:00

BLACKPINK Tops 3.6 Billion Streams on Melon Across Group and Solo Tracks BLACKPINK has logged about 3.6 billion streams on Melon, South Korea’s major music platform, combining group and solo releases. The tally highlights results built over the past decade through both team and individual activities, as the group recently returned as a full lineup after 3 years and 5 months. Kakao Entertainment’s music platform Melon said March 16, citing its Melon Data Lab big-data analysis, that BLACKPINK’s group songs have reached 2,567,050,000 streams, while members’ solo songs have totaled 1,031,690,000. Combined, that is 3,598,680,000 streams. Among group tracks, “As If It’s Your Last” led with 260,900,000 streams. “DDU-DU DDU-DU” and “Playing With Fire” each surpassed 200 million. Other songs with more than 100 million plays were “Lovesick Girls,” “How You Like That,” “Forever Young,” “Whistle,” “Kill This Love,” “Pink Venom,” “Shut Down” and “Boombayah.” Melon noted that the list includes non-title tracks such as “Forever Young.” “BLACKPINK is a leading K-pop act that continues to be loved not only for group releases but also for members’ solo songs,” Melon said, adding that the group has 10 songs that have exceeded 100 million streams on Melon through group activities alone. Album performance was also strong. For releases with at least two tracks, “SQUARE UP” recorded 500,300,000 streams, “THE ALBUM” 336,200,000, “SQUARE TWO” 303,700,000, “BORN PINK” 288,200,000, “SQUARE ONE” 259,200,000 and “Kill This Love” 253,200,000. Melon said every track on the full-length album “BORN PINK” entered Melon’s Top 100 chart. Chart results showed similar momentum. BLACKPINK placed 12 songs in Melon’s daily Top 10, and those songs spent a combined 916 days in the Top 10. “Lovesick Girls” stayed in the Top 10 the longest at 159 days. “JUMP,” released last year, logged 142 days, followed by “How You Like That” with 109 and “DDU-DU DDU-DU” with 108. Those four were the only songs to remain in the daily Top 10 for more than 100 days. Members’ solo streaming totals were led by Jennie with 437,060,000, followed by Rosé with 418,590,000, Jisoo with 119,330,000 and Lisa with 56,720,000, for a combined 1,031,690,000. Among solo tracks, Jennie’s “SOLO” was the most-streamed at 179,590,000. Rosé’s collaboration with Bruno Mars, “APT.,” recorded 133,150,000. Melon said “APT.”, released in October 2024, surpassed 100 million streams quickly despite being a relatively recent release. Solo chart presence was also notable. By days in Melon’s daily Top 10, Rosé’s “APT.” recorded 200 days and Jennie’s “like JENNIE” logged 122. By member, Rosé spent a total of 329 days in the daily Top 10, Jennie 322 and Jisoo 98, for a combined 1,071 days. Catalog listening extended beyond title tracks. Among group B-sides, “Forever Young” recorded 180,510,000 streams and “Pink Venom” 123,760,000, while “Don’t Know What To Do” had 69,360,000 and “Pretty Savage” 53,830,000. Among solo B-sides, Rosé’s “Gone” led with 43,690,000 streams. Lisa’s solo track “MONEY” drew attention for a seasonal listening pattern. Melon said the song is known as a “New Year’s Day money-attracting song,” and that on Jan. 1 this year, streams rose 306% from the previous day while listeners increased 267%. “MONEY” has accumulated 22,440,000 streams, Melon said. BLACKPINK recently returned with its third mini album, “DEADLINE.” Melon said the full Data Lab feature on BLACKPINK is available through the Melon app’s magazine section and Melon’s official social media channels. 2026-03-16 14:00:20

Airline Fuel Surcharges to Jump in April on Middle East Risks, Biggest Rise in a Decade Geopolitical risks tied to the Middle East are set to sharply raise fuel surcharges on international airline tickets issued in April. According to the aviation industry on the 16th, the Singapore jet fuel average price (MOPS) for Feb. 16 to March 15—the benchmark for April surcharges—corresponds to level 18 out of 33. That is a jump of 12 levels from level 6 applied this month, the biggest increase since the current surcharge system was introduced in 2016. It is also the highest level since October 2022 (level 17), when the Russia-Ukraine war was at its peak, marking the highest in three years and six months. Domestic airlines plan to raise April fuel surcharges by as much as more than threefold. Asiana Airlines charged 14,600 won to 78,600 won per one-way ticket this month, but will apply 43,900 won to 251,900 won next month. The shortest routes—including Fukuoka, Yantai, Kumamoto and Qingdao—will be charged 43,900 won, while the longest routes—including Los Angeles, New York, Paris and London—will carry a 251,900 won surcharge. Korean Air is also set to announce its April fuel surcharge later on the 16th. The increase is expected to exceed 100,000 won on the longest routes compared with this month’s 13,500 won to 99,000 won range. International oil prices have climbed sharply since the Middle East situation that began late last month, while the won-dollar exchange rate has remained elevated, topping 1,500 won intraday. Fuel surcharges are added to fares to offset airline losses from higher oil prices. Under the Transport Ministry’s distance-based system, each carrier sets monthly charges after making its own adjustments. * This article has been translated by AI. 2026-03-16 13:45:21

Netflix’s ‘K-Pop Demon Hunters’ wins Oscars for animated feature and original song Netflix’s animated film “K-Pop Demon Hunters” swept two awards at the 98th Academy Awards, winning animated feature and original song. At the ceremony at the Dolby Theatre in Hollywood, Los Angeles, the film was first announced as the winner of the animated feature prize. Director Maggie Kang, who beat out nominees including “Arco,” “Elio” and “Zootopia 2,” said, “I’m sorry it took so long to make a movie with a protagonist who looks like me,” adding, “The next generation won’t have to long for movies like this. This award is for Korea and Koreans around the world.” Co-director Chris Appelhans added, “Music and stories connect us across borders,” offering encouragement to artists. The film’s momentum continued when its soundtrack song “Golden” won the original song Oscar. The song’s creators — Lee Jae, Mark Sonnenblick, Kwak Jung-gyu and Lee Yu-han — became emotional onstage after beating nominees including “Dream of a Train” and “Sinners: Sinners.” Lee Jae, who also sang and wrote lyrics for the track, said, “When I was young, I was teased for liking K-pop, but now everyone is singing along to Korean lyrics,” adding, “This award isn’t about success. It’s about the strength to endure and recover.” The show’s highlight was the celebratory performance of “Golden.” For what the article described as the first K-pop performance in Oscar history, a pansori singer and percussionists opened with traditional Korean dance alongside 24 dancers. Lee Jae, Audrey Nuna and Rei Ami, dressed in white, then took the stage. The article said Hollywood stars waved light sticks and joined in a Korean-language singalong. “K-Pop Demon Hunters” is an action fantasy about girls who are K-pop singers by day and heroes who fight evil spirits by night. Since its release last June, the film surpassed 300 million views on Netflix, and “Golden” reached No. 1 on Billboard’s Hot 100, the article said. Other major awards were also announced. Best picture went to Paul Thomas Anderson’s “One Battle After Another,” and Anderson also won best director. Michael B. Jordan won best actor for “Sinners: Sinners,” and Jessie Buckley won best actress for “Hamnet.” 2026-03-16 13:33:24

Asian markets open the third Gulf war week lower  SEOUL, March 16 (AJP) — Asian stock markets traded lower Monday as investor sentiment remained fragile with the Iran war entering a third week and the Strait of Hormuz still effectively cut off, keeping energy and security risks at the center of regional trading. Reports that President Donald Trump is pressing U.S. allies and major Asian importers to help reopen the waterway added to the sense of unease. South Korea’s KOSPI swung from early gains into negative territory as bargain hunting in semiconductor heavyweights gave way to profit-taking, underscoring how quickly risk appetite can fade in a market dominated by a handful of large-cap names. At the open, Samsung Electronics rose 0.93 percent and SK hynix gained 2.31 percent, helping lift the benchmark. Defense contractor Hanwha Aerospace and nuclear-related Doosan Enerbility also traded higher in early dealings, reflecting continued investor interest in sectors seen as beneficiaries of geopolitical tension and energy security concerns. The Middle East remained the main external driver. In an interview reported Monday, Trump said countries that depend heavily on oil and gas shipments through Hormuz — including South Korea, Japan, China, Britain and France — should contribute to efforts to secure the strait, while also warning that further action against Iran’s Kharg Island export hub remained possible. Reuters and AP both reported that Washington is pushing partners to take a greater role in reopening the passage. China, meanwhile, has called for a ceasefire and renewed diplomacy. U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng began talks in Paris over the weekend, with the broader geopolitical backdrop likely to weigh on those discussions. Japan is also coming under pressure ahead of Prime Minister Sanae Takaichi’s planned Washington trip this week, though Tokyo has said it is not currently planning an escort mission and that no formal U.S. request has yet been made. Takaichi said Japan is still reviewing its options within its legal framework. The uncertainty weighed on regional equities. In Tokyo, the Nikkei 225 traded at 53,777.47, down 0.08 percent. Hong Kong’s Hang Seng Index slipped 0.10 percent to 25,439.22, China’s Shanghai Composite fell 0.21 percent to 4,086.86, and Taiwan’s TAIEX lost 0.22 percent to 33,327.10. As of 10:49 a.m., the KOSPI was down 0.03 percent at 5,485.74, while the tech-heavy KOSDAQ dropped 1.71 percent to 1,133.24. Earlier in the session, the KOSPI had climbed as much as 1.11 percent to 5,548.04, lifted by gains in Samsung Electronics and SK hynix. Their growing dominance has become increasingly evident. Samsung Electronics and SK hynix accounted for 38.3 percent of the KOSPI’s total market capitalization as of March 13, according to Korea Exchange data cited in local reporting, nearing the 40 percent threshold. That compares with 23.7 percent a year earlier, highlighting the benchmark’s growing concentration in semiconductor leaders. The combined weight of the top 10 listed companies also rose to 51.7 percent from 41.1 percent over the same period. Analysts say the trend reflects expectations for a prolonged AI-driven semiconductor upcycle, as well as a defensive preference for large-cap exporters during periods of geopolitical stress. FnGuide data show the three-month consensus target price for Samsung Electronics at around 251,720 won, implying significant upside from recent trading levels. FnGuide’s company guide also shows broker targets clustered well above current market prices. In early trading, SK hynix rose 3.19 percent to 939,000 won and Samsung Electronics advanced 1.53 percent to 186,300 won. The semiconductor sector’s prominence is also being reflected in the labor market. A Saramin survey of 2,304 adults released Monday showed SK hynix ranked as the most desirable large company to work for, overtaking Samsung Electronics for the first time since the survey began. Local reports said respondents cited the AI-led chip boom and strong compensation as key draws. Defense and energy-linked names outperformed, with Hanwha Aerospace up 0.34 percent at 1,493,000 won and Doosan Enerbility rising 2.35 percent to 109,000 won. Financial stocks were mixed. KB Financial added 1.81 percent to 151,600 won and Mirae Asset Securities gained 3.32 percent to 71,500 won, while Shinhan Financial edged down 0.11 percent to 90,700 won. Among automakers, Kia was flat, Hyundai Motor fell 1.35 percent to 510,000 won, and Hyundai Mobis was little changed. Biotech and platform shares were weaker, with Samsung Biologics down 1.19 percent to 1,573,000 won, Celltrion off 1.70 percent at 202,000 won, and NAVER losing 1.35 percent to 220,000 won. Shipbuilding and heavy industry shares were mostly lower, with HD Hyundai Heavy Industries down 3.02 percent at 578,000 won, HD Hyundai Electric falling 1.51 percent to 915,000 won, and Hanwha Ocean retreating 2.19 percent to 133,900 won as core gas for shipbuilding cut off from Strait Hormuz suspension is expected to disrupt production activities. Currency markets also reflected the nervous tone. The won opened at 1,501.0 per dollar, marking the first breach of the 1,500 level in daytime trading since March 12, 2009, during the global financial crisis. It later pared some of those losses and was trading at 1,496.30 per dollar, compared with the previous session’s close of 1,493.40. 2026-03-16 11:57:43