FX intervention joins as the truce in Middle East provides relief in Korean market SEOUL, April 08 (AJP) - The relief over bombardment in the Gulf brought long-awaited relief to the South Korean won and bonds, and the truce amplified Seoul’s intervention campaign, according to traders. The won closed at 1,470.6 per dollar, returning below the 1,500 level for the first time in 12 trading days. The 33.6 won gain marked the steepest daily move in about three months, since a 33.8 won jump on Dec. 24 last year amid heavy intervention. The conditional ceasefire triggered a sell-off in the safe-haven dollar while boosting demand for the won and Korean equities. As of 4 p.m. Wednesday, the U.S. Dollar Index (DXY) fell nearly one point to 98.7, nearing its lowest level in 12 sessions. Foreign investors abruptly reversed course after offloading 36 trillion won in KOSPI shares in March alone. They net bought 2.4 trillion won ($1.63 billion) worth of stocks on Wednesday, far surpassing the previous daily record of 800 billion won set on April 3. The figure marks the second-largest daily net purchase of the year, following 2.9 trillion won on Feb. 12. The bond market also staged a sharp rally. The yield on the benchmark three-year government bond fell 13.6 basis points to 3.315 percent, while the 10-year yield dropped 12.6 basis points to 3.628 percent. Both yields fell below the 3.4 percent and 3.7 percent levels for the first time in a week, echoing the rally seen on April 1 when South Korea’s inclusion in the World Government Bond Index (WGBI) began in earnest. Analysts say the “WGBI effect,” which had been diluted by the war, is now resurfacing. “The inclusion in the WGBI is estimated to bring in about $60 billion, or up to 90 trillion won, in capital inflows,” said Yoon Yeo-sam, a researcher at Meritz Securities. “We are seeing increased international trading not only in three- and 10-year treasuries but also in long-term bonds with maturities of 20 years or more, as well as corporate bonds.” Authorities are also maintaining efforts to curb volatility. According to the Bank of Korea, the nation’s foreign exchange reserves fell by $4.4 billion from December to March as authorities deployed dollars to support the won. South Korea’s reserve ranking slipped from ninth to 12th in February and is expected to fall further in March. The Ministry of Economy and Finance held talks with major global investment banks on Tuesday to assess the impact of the Hormuz blockade and pledged continued intervention if volatility persists. Meanwhile, financial authorities are focused on maintaining confidence in the credit market. At an emergency task force meeting Wednesday, officials said South Korea’s credit spreads remain stable. The spread on AA- rated corporate bonds widened by just 6 basis points, from 59.6 at end-February to 65.6 as of April 7 — a limited increase compared with the 28 basis-point spike within a month during the 2022 “Legoland” municipal bond crisis. 2026-04-08 17:30:56

Masters tees off April 9 as Rory McIlroy seeks rare repeat at Augusta The Masters Tournament, the first men’s major of the season, opens April 9 (local time), bringing the world’s top players to Augusta National to chase the green jacket. The 90th edition will be played over four days at Augusta National Golf Club in Augusta, Georgia, a par-72 course. Started in 1934, the Masters is the only one of golf’s four majors held at the same venue every year. The field is smaller than other majors because it is invitation-only rather than qualifying-based. This year’s field includes 91 players. The main storyline is whether defending champion McIlroy of Northern Ireland can repeat. He won last year to become the sixth man in golf history to complete the career Grand Slam by capturing all four majors. If he wins again, he would become the first back-to-back Masters champion since Tiger Woods won in 2001 and 2002, 24 years ago. McIlroy’s recent form has been uneven. After tying for second at the PGA Tour’s Genesis Invitational in February, he withdrew from the Arnold Palmer Invitational with back pain and tied for 46th at The Players Championship. In the PGA Tour’s Masters power rankings released April 7 (Korean time), he was seventh. World No. 1 Scottie Scheffler is widely viewed as the strongest threat to McIlroy’s title defense. The 2022 and 2024 champion is chasing a third Masters title, extending his run of winning in even-numbered years. But his recent results have been modest. He won the American Express in January for his 20th career victory, then finished outside the top 20 in his last two starts. He is 12th in the power rankings. With both leading contenders showing some uncertainty, other players are being discussed as potential winners. Matt Fitzpatrick, who rose to No. 1 in the power rankings after winning the Valspar Championship and finishing runner-up at The Players Championship, is among them, along with Ludvig Aberg of Sweden and Xander Schauffele. Jon Rahm of Spain and Bryson DeChambeau of the United States, who play on LIV Golf, are also seen as capable of reshaping the tournament. The PGA Tour said on its website, “Two favorites arrive at the Masters with big question marks — McIlroy about health, Scheffler about form,” adding that as doubts grow, “a deep group of challengers” has made this year’s Masters “more unpredictable than ever.” South Korea will be represented by Si Woo Kim and Im Sung-jae. Kim, playing his ninth Masters, is ranked 28th in the world, the highest among South Koreans. His best Masters finish is a tie for 12th in 2021. “Over the past two or three years, I’ve played steady golf,” he said. “I think my game has improved, and I have more confidence and enjoyment now.” Im is in the field for a seventh straight year. He finished second at the Masters in 2020. “The Masters is a tournament I’ve dreamed of since I was young,” he said. “Finishing second in 2020, my first time playing, had a big impact on my confidence.” This year’s total purse will be announced during the third round. Last year’s purse was a record $21 million (about 31.7 billion won). As in past years, the stretch known as Amen Corner — holes 11 through 13 — is expected to be a key turning point in deciding the champion. 2026-04-08 17:30:00

Hormuz reopening hinges on Iran control as Korean tankers await passage SEOUL, April 08 (AJP) - The United States and Iran have agreed to a dramatic two-week ceasefire centered on reopening the Strait of Hormuz, but when, how — and more importantly, at what cost — stranded South Korean vessels can pass safely remains uncertain. The presidential office in Seoul on Wednesday said the ceasefire had created conditions for resuming transit through the strait, adding that the government would step up coordination with shipping companies and communication with relevant countries to facilitate the passage of Korean vessels. “As Iran has indicated that transit will resume under coordination with its military and technical constraints, we are closely monitoring the situation and working with relevant countries to clarify specific transit methods and conditions,” an official said. Presidential Chief of Staff Kang Hoon-sik, who left Tuesday as special envoy leading a Korean delegation on an energy mission to Kazakhstan, Oman and Saudi Arabia, is expected to spearhead negotiations. The temporary truce, reached hours before a U.S. strike deadline, includes Iran allowing ship passage through the strategic waterway, a critical route for global oil shipments. President Donald Trump said he agreed “to suspend the bombing and attack of Iran for a period of two weeks” as long as Iran ensures “the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz.” But Tehran has signaled it retains control over who gets through. Iran has attacked at least 19 vessels near the Strait — which links the Persian Gulf to the Gulf of Oman — since the start of the war. The nearly six-week disruption has choked global crude supply and rattled markets. On Wednesday morning, Iran’s foreign minister said, “safe passage through the Strait of Hormuz will be possible via coordination with Iran’s Armed Forces.” Iran and Oman are expected to charge ships for transit during the ceasefire period, according to Iran’s semi-official Tasnim news agency. Iran said vessels would be allowed to pass during the two-week pause, but only under coordination with its armed forces and subject to operational restrictions — effectively maintaining control over the waterway. Iran’s Supreme National Security Council also emphasized “regulated transit” as part of its proposed peace framework, signaling that Tehran intends to retain leverage over the chokepoint even during the ceasefire. Shipping industry reports suggest restrictions may go further. According to Lloyd’s List, vessels transiting the strait are increasingly required to follow procedures linked to Iran’s Islamic Revolutionary Guard Corps (IRGC), including what industry sources describe as a de facto “toll-booth” system controlling maritime traffic. If sustained, such an arrangement would allow Iran to exert economic leverage without formally closing the strait. Seven Korean oil tankers are awaiting safe passage, with authorities closely watching whether they can transit within the ceasefire window. More broadly, 26 South Korea-linked vessels — including crude oil tankers, bulk carriers and gas carriers — remain stranded near the Persian Gulf, underscoring the stakes for the country’s energy security. Around 70 percent of South Korea’s crude oil imports pass through the Strait of Hormuz, making safe passage particularly critical. Iran’s ambassador to South Korea, Saeed Koozechi, signaled that control of the waterway remains central to Tehran’s strategy. In a radio interview on Wednesday, he criticized U.S. policy and suggested restrictions could persist as long as hostilities continue. “The responsibility for the current situation and the economic damage to other countries lies with the United States and the Trump administration,” he said. “Rather than blaming Iran, the world should criticize U.S. actions driven by Israel’s demands in a region that serves as a vital global energy corridor.” He added that restrictions could remain in place while conflict conditions persist. “The most important issue is who controls the Strait of Hormuz. Our objective is to manage and block all military and economic elements that could benefit the enemy,” he said. However, the ambassador said he had no specific information indicating that vessels were being required to pay tolls for transit through Iranian waters, appearing to downplay reports of such arrangements. His deputy told AJP separately, “We did not mention the name of any vessels or any country. It is a general regulation. Our minister also said in a statement this morning that passage through the Strait of Hormuz is possible, but only through coordination with Iran’s armed forces.” “I do not know about the technical limitations or the details,” he added. “This is not the end of the war — only a two-week ceasefire.” While the ceasefire has eased immediate fears of escalation, Iran has also proposed measures such as transit fees and continued coordination requirements, suggesting that passage may remain controlled rather than fully restored. The temporary nature of the truce adds further uncertainty. Officials say the two-week window is intended to allow negotiations, but it could collapse if hostilities resume. For South Korea, the coming days may prove decisive. If the seven oil tankers successfully transit the strait, the country could secure an estimated 14 million barrels of crude, offering relief to energy markets strained by the conflict. However, with Iran maintaining operational control and the ceasefire limited to two weeks, shipping companies and insurers remain cautious — leaving the safe passage of Korean vessels far from assured. Contribution by Joonha Yoo 2026-04-08 17:29:28

Motorists required to leave their cars once a week as part of energy-saving efforts SEOUL, April 8 (AJP) - Starting from Wednesday, motorists are required to leave their cars at home once a week, depending on the last digit of their license plates, as they are unable to use public parking on certain days. The measure is part of energy-saving efforts amid the prolonged conflict in the Middle East, which has caused global energy supply disruptions as well as soaring fuel prices. Civil servants and staff at public institutions, who have been subject to a similar measure since March 25, are now required to commute by public transportation every other day. But to minimize disruption to daily life, exemptions will be granted in about 30 areas near open-air farmers' markets, major commercial districts, and residential zones. 2026-04-08 17:28:47

KickFlip’s ‘My First Kick’ Tops Hanteo and Circle Daily Album Charts JYP Entertainment boy band KickFlip posted strong results with its new release. The group returned on April 6 at 6 p.m. with its fourth mini album, ‘My First Kick,’ and the title track, ‘I Want to Stand Out.’ The album centers on youth facing first-time challenges and an ongoing first-love story. ‘My First Kick’ ranked No. 1 on Hanteo Chart’s daily album chart and Circle Chart’s daily retail album chart for April 6. It also appeared on iTunes K-pop album charts in several overseas markets, including Denmark, Canada, Singapore, Malaysia and the United States. The title track, ‘I Want to Stand Out,’ includes lyrics and composition credits for leader Gyehun. The song’s lyrics portray an unhesitating rush toward a first love, matching the group’s upbeat energy. On release day, it rose to No. 1 on Bugs’ real-time chart, and all tracks from the album entered the rankings. On the day of its comeback, KickFlip performed on Mnet M2’s ‘Annoying Comeback Show From Start to Finish’ at 7 p.m., staging the pre-release song ‘Twenty,’ B-side tracks ‘Reverse’ and ‘My Direction,’ and the title track. At 8 p.m., the group held an in-person fan showcase at YES24 Live Hall in Seoul’s Gwangjin District. The mini album ‘My First Kick’ and the title track are available on major music streaming platforms. A pop-up store marking the release will run through April 13 at LCDC SEOUL in Seoul’s Seongdong District.* This article has been translated by AI. 2026-04-08 17:24:17

Spy film 'Humint' rebounds on Netflix after box-office flop SEOUL, April 8 (AJP) - Director Ryoo Seung-wan's latest film "Humint" claimed the top spot on Netflix's chart for non-English movies, just a week after becoming available on the global platform, following its theatrical flop in February. According to Netflix's ranking site Tudum, the spy film garnered 11 million cumulative views in about a week after it began streaming last Wednesday, securing the top spot among non-English films. The 119-minute film also took the top spot in more than a dozen countries and ranked in the top 10 in 67 countries worldwide. "Humint" starring Park Hae-joon, Park Jung-min, Shin Se-kyung, and Zo In-sung revolves around a South Korean intelligence agent who hunts a drug ring in Russia and becomes entangled with a North Korean spy, pulling both into danger and hidden secrets. First released in theaters on Feb. 11, the film attracted a mere 1.98 million moviegoers, well below the estimated 4 million needed to break even. 2026-04-08 16:58:15

Africa's moment, however fragile, opens opportunities for Korea SEOUL, April 08 (AJP) - Asia has long dominated as the global economy’s growth engine, but Africa may be emerging as a formidable contender. Sub-Saharan Africa is projected to outpace Asia this year. According to the International Monetary Fund, the region’s real GDP is expected to grow 4.5 percent in 2026, compared with Asia’s 4.1 percent. Some economies are expanding rapidly: Guinea is forecast to grow 10.5 percent, Uganda 7.6 percent and Ethiopia 7.1 percent. Capital is also taking notice. Flows jumped 75 percent in 2024 to a record $97 billion, with North African economies drawing particularly strong inflows. By contrast, foreign direct investment into Asia has stagnated, falling from $662 billion in 2022 to $605 billion in 2024. The overall picture points to a continent on the rise — increasingly central to the global economy amid shifting geopolitics and supply chains. Yet beneath the headline growth lies a more complex and uncertain reality. Africa’s recent momentum cannot be explained by a single factor. It reflects a mix of demographic change, policy experimentation, commodity cycles and technological adaptation. “Current fast growth in several African economies reflects a combination of structural and cyclical factors rather than a single model,” said Anthony Butler, a professor at the University of Cape Town. At a basic level, many African economies are benefiting from “catch-up growth,” starting from a low base and achieving rapid gains through capital accumulation, labor shifts and the adoption of existing technologies. Urbanization is also playing a key role. Rapidly expanding cities are driving demand for housing, transport, finance and retail, with growth increasingly supported by domestic consumption rather than exports alone. At the same time, technological “leapfrogging” is reshaping development. Mobile money, digital platforms and off-grid solar systems have expanded access to finance and electricity, often more efficiently than traditional infrastructure. These gains, however, are uneven. While some countries have diversified their growth engines, others remain heavily dependent on natural resources. In Guinea, bauxite exports are driving expansion. In Uganda, oil development is attracting investment. In Ethiopia, a state-led, infrastructure-focused model has delivered strong short- to medium-term growth. Historically, Butler noted, African growth has been tied to “oil, gas and mineral resources, together with agricultural commodities” — a pattern that remains volatile. Shifting external finance One of the most notable recent changes is in the composition of external finance. Foreign aid to sub-Saharan Africa has declined sharply, following sharp cuts by the United States. According to the OECD, assistance from advanced economies fell by as much as a quarter last year. China — once a major lender — has shifted from issuing new loans to recovering existing ones. Private investment has stepped into the gap. The surge in foreign direct investment reflects growing confidence in Africa’s long-term prospects, particularly in energy, infrastructure and manufacturing. North African economies such as Morocco and Tunisia have attracted significant inflows tied to industrial development and export-oriented production. Africa has also emerged as a “tariff refuge” in global manufacturing. Some Chinese firms have relocated production to African countries to benefit from trade preferences when exporting to the United States and Europe. But that advantage is already under pressure. Recent U.S. tariff policies, including a broad 10 percent baseline tariff, are eroding the competitiveness of such arrangements. The result is a shifting external environment where opportunities are expanding — but so are uncertainties. Structural constraints persist Despite visible dynamism, the underlying structure of many African economies has changed less than growth figures suggest. More than 90 percent of exports from sub-Saharan Africa remain unprocessed raw materials, according to Howard Stein, a professor at the University of Michigan. This reflects a deeply entrenched position at the lower end of the global value chain. “The continent…has found itself as the exporter of raw materials at the bottom of the international value chain,” Stein said. But commodity-driven growth generates limited employment and is highly sensitive to global price swings. When prices rise, economies expand; when they fall, growth slows or reverses, often triggering fiscal stress. These cycles are compounded by Africa’s position in the global financial system. African economies typically operate with “weak” or “junk” currencies, in Stein’s words, and must rely on hard currencies such as the U.S. dollar to finance imports and stabilize their economies. This creates structural dependence on external capital and limits policy autonomy. “The key characteristic of the global financial architecture is the hierarchy of currencies,” Stein said, noting that the dollar’s dominance confers advantages on the United States while constraining others. When external shocks hit, countries often face balance-of-payments crises, forcing them to seek IMF support — often tied to austerity measures that can undermine long-term growth. The result is a “vicious cycle” in which commodity dependence reinforces itself. Growth amid global uncertainty Even current growth projections come with caveats. Stein noted that IMF forecasts were made before escalating geopolitical tensions in the Middle East, including conflict involving Iran — developments that could disrupt oil markets and global stability. “Forecasts are even more problematic when you are in the middle of a war…with unknown implications,” he said. At the same time, shifting U.S. trade policy and broader geopolitical fragmentation are introducing new uncertainties that disproportionately affect regions like Africa, which remain closely tied to external markets and financial systems. In this context, short-term growth figures may obscure deeper vulnerabilities. Demographics: opportunity and risk If Africa’s present is shaped by structural constraints, its future may be defined by demographics. The continent’s population — currently about 20 percent of the global total — is expected to reach nearly 28 percent by 2050. “A young and rapidly growing population is expanding both the labor force and consumer markets,” said Edwin Muchapondwa, an economics professor at the University of Cape Town. In theory, this “demographic dividend” could support sustained growth. In practice, it depends on job creation — which has often lagged population growth. Urbanization is already transforming economies, fueling demand for services such as retail, transport and telecommunications. But without sufficient industrialization and employment, rapid population growth risks deepening inequality and social tension. Africa is set to become the world’s fastest-urbanizing region. According to the Economist Intelligence Unit, six cities — Cairo, Kinshasa, Lagos, Greater Johannesburg, Luanda and Dar es Salaam — are projected to exceed 10 million people by 2035. These urban centers are hubs of innovation, but also flashpoints for protests linked to corruption, taxation, unemployment and dissatisfaction with political leadership. By 2035, more than half of Africa’s population will live in cities, with the urban population approaching 1 billion, up from around 650 million in 2023. The continent is also expected to have 17 cities with populations above 5 million and around 100 exceeding 1 million. Addis Ababa is projected to grow fastest, followed by Kampala, Dar es Salaam and Abidjan. The EIU also highlights emerging “megalopolises,” including a 600km corridor along the West African coast from Abidjan to Lagos that could house more than 50 million people by 2035, alongside clusters in Egypt, South Africa, East Africa and North Africa. At the core of Africa’s economic debate is a central question: how to move from extraction to value creation. Governments are increasingly seeking to develop downstream industries — processing raw materials domestically rather than exporting them unrefined, and this is where Korea can define its role in the continent, according to experts. Africa holds significant reserves of minerals essential for electric vehicles, renewable energy and digital technologies – all crucial to power Korean Inc. Tanzania’s Kabanga nickel deposit, for example, is among the world’s largest undeveloped reserves. Experts advise South Korea to capitalize on this momentum, leveraging its experience in industrial transformation. The challenge is not simply extraction, but capturing value. “A major drive on the continent is to move beyond extraction,” Butler said, warning that without such efforts, Africa risks repeating patterns where external actors capture disproportionate gains. Achieving this shift will require improvements in infrastructure, governance and institutional capacity — areas where progress remains uneven. Unlike China, South Korea is often seen as a more adaptable model. Its rapid development was driven by export-led industrialization, strong state capacity, investment in education and close government-industry coordination. “The key lessons may be to build capable institutions, focus on exports, invest in skills, and pursue gradual industrial upgrading,” Butler said. However, he cautioned that African countries often lack the political cohesion and institutional depth that underpinned Korea’s experience. Simply replicating its model without adaptation could be counterproductive. “The most effective approach would be one that supports local capacity-building…engages African states as strategic partners,” said Bulelani Jili of Georgetown University. Geopolitical tensions are also opening space for new alliances. “There is the possibility for independently minded nations to generate new alliances,” Stein said, pointing to opportunities for cooperation that could help diversify and strengthen Africa’s industrial base. Africa’s growth story has long been cyclical — marked by optimism followed by setbacks driven by external shocks or internal constraints. Whether this time is different depends on whether growth can translate into structural transformation: moving up the value chain, building resilient institutions and creating inclusive systems. As Jili put it, the key question is not whether Africa will grow — but “what kind of growth is being produced, and who benefits from it.” 2026-04-08 16:48:20

Hormuz reopening hopes spark 7% KOSPI surge as oil plunges SEOUL, April 08 (AJP) - The prospect of the Strait of Hormuz reopening under a two-week ceasefire ignited Asian markets on Wednesday, sending South Korea’s benchmark KOSPI soaring nearly 7 percent. The index, after jumping as high as 5,919.60, closed up 6.9 percent at 5,872.3. A buy-side sidecar was triggered shortly after the open as the KOSPI 200 surged more than 5 percent at the opening bell. The rally was driven by a sharp reversal in global energy markets. Brent crude plunged more than 15 percent to $92.89 a barrel, while U.S. West Texas Intermediate fell 16.1 percent to $94.6, after U.S. President Donald Trump said he would delay military action against Iran for two weeks under a conditional ceasefire tied to the reopening of the Strait of Hormuz. The de-escalation, reportedly accepted by Tehran and involving coordinated maritime access, eased fears of supply disruptions along a route that carries roughly 20 percent of global oil flows. The drop in crude prices tempered inflation concerns and triggered a broad risk-on move across global markets. Investor positioning reflected the shift. Foreign investors bought 2.43 trillion won ($1.65 billion) worth of local equities, while institutions added 2.71 trillion won. Retail investors moved in the opposite direction, selling a combined 5.42 trillion won, indicating profit-taking into the rally. Large-cap stocks led gains, particularly in semiconductors and cyclicals. Samsung Electronics rose 7.1 percent to 210,500 won, while SK hynix surged 12.8 percent to 1,033,000 won, supported by expectations of record first-quarter earnings and upward revisions in target prices. Automakers also advanced, with Hyundai Motor gaining 7.4 percent to 508,000 won and Kia rising 5.6 percent to 159,200 won. LG Electronics jumped 9 percent to 116,700 won after reporting record quarterly revenue, as analysts raised target prices on expectations of a structural shift toward robotics and AI-driven infrastructure. In contrast, select defense stocks retreated, with Hanwha Aerospace falling 3.5 percent to 1,484,000 won, reflecting a decline in geopolitical risk premiums. The tech-heavy KOSDAQ gained 5.1 percent to 1,089.9, trading between 1,071.35 and 1,090.04. Foreign investors bought 240.5 billion won, while institutions added 371.1 billion won. Retail investors sold 583.6 billion won, suggesting gains were driven by institutional and offshore inflows. The Korean won strengthened sharply, with the dollar falling 26 won to 1,471.0 — the steepest drop since March 24 — as the dollar index slipped 1 percent to 98.7. Despite the rally, volatility remained elevated, with the VIX rising 6.7 percent to 25.78, underscoring lingering uncertainty. Across the region, Japan’s Nikkei 225 climbed 5.5 percent to 56,360.2, while China’s Shanghai Composite rose 2.4 percent to 3,984.6 and Hong Kong’s Hang Seng gained 3.1 percent to 25,897.1, led by energy-sensitive and export-oriented sectors. 2026-04-08 16:34:42

CRAVITY to Return April 29 With Eighth Mini Album 'ReDeFINE' CRAVITY has announced its return with a story-film video. Starship Entertainment said it posted the video on the group’s official social media accounts on April 7 and confirmed that CRAVITY’s eighth mini album, “ReDeFINE,” will be released April 29 at 6 p.m. The video opens like a strange, dreamlike fairy tale. It centers on a circular shape that appears in the sky, with witnesses insisting it looks different to each of them, adding to the mystery. The narrative then shifts to a cycle of disappearance and rebirth and a longing for permanence, teasing the album’s concept. Rendered in a surreal, storybook painting style, the clip pairs mythlike imagery with heavy, enigmatic music. Near the end, a close-up shot inside a snake’s mouth appears, followed by the album title and release schedule. CRAVITY last year released its second full-length album, “Dare to Crave,” and an epilogue album, expanding its musical range and storyline. All members took part in writing and composing, and the title track “SET NET G0?!” earned two music show wins. The group also held a solo concert at the Handball Gymnasium for the first time since debut, marking its fifth year. The group’s momentum carried into awards, including the performance male group category at the 2024 Super Sound Festival, the Best Performance Award at the 34th Seoul Music Awards, the K World Dream Best Performance Award at the 2025 K World Dream Awards, and the AAA Icon Singer honor at the 10th anniversary Asia Artist Awards. More recently, CRAVITY wrapped its “2026 CRAVITY FAN CONCERT VITY FESTA” and continued overseas activity with the release of its third Japanese single, “BLAST OUT.” CRAVITY will release “ReDeFINE” on April 29 and begin full-scale promotions. Additional content will be rolled out through the group’s official social media channels. * This article has been translated by AI. 2026-04-08 16:27:16

KakaoBank Eyes Mongolia Expansion, Prepares Stablecoin Plan KakaoBank said it is pushing to enter Mongolia after expanding into Indonesia and Thailand, as it looks to diversify revenue through overseas business. The company also said it plans to secure a license to issue stablecoins after the enactment of the Digital Asset Basic Act, aiming to take an early lead in that market. At a news conference on April 8 at the Fairmont Ambassador Seoul in Yeouido, KakaoBank CEO Yoon Ho-young said the company plans to export its credit-scoring system, called “KakaoBank Score,” to Mongolian financial institutions. The model uses nonfinancial data, he said. “Mongolia is a market where the credit evaluation system has not yet been sufficiently advanced,” Yoon said. “It is meaningful to apply KakaoBank’s inclusive finance capabilities accumulated in Korea to overseas markets.” Mongolia would be KakaoBank’s third overseas business after Indonesia and Thailand. KakaoBank is also preparing to start operations in the first quarter of next year for “BankX,” an internet bank set up as a joint venture with Thailand’s SCBX Group. KakaoBank said it plans to introduce key products locally, including its “26-week savings” and “group account,” and to lead development of the mobile app to deliver a user experience similar to its service in Korea. KakaoBank said its competitiveness in “easy finance” is driving broader cooperation with overseas financial firms, saying its services can be effective in Southeast Asian markets where informal lending is high or financial infrastructure is limited. Yoon said local interest was strong in its overdraft loan product, adding that working with local partners, rather than entering directly, can reduce risk. KakaoBank also said it plans to obtain a stablecoin issuance license after the Digital Asset Basic Act is enacted and to participate across issuance and distribution. If needed, it will consider mergers and acquisitions across payments and investment, the company said. “The goal is to make a won-denominated stablecoin as convenient to use as withdrawing funds from an account,” Yoon said. “If there is a suitable company, we will actively look for M&A opportunities.” 2026-04-08 15:57:17