S.Korea's diversified LNG supply chain mitigates risks amid Australia's potential export limits SEOUL, April 04 (AJP) - South Korea is facing potential supply chain disruptions for liquefied natural gas (LNG) as Australia, its largest LNG supplier, considers prioritizing domestic demand amid growing global uncertainties driven by the Middle East conflict. While the government expects limited near-term impacts, broader concerns over global energy supply stability remain. In response, proactive measures by South Korean private energy firms, such as SK Innovation E&S and POSCO International, to diversify their supply chains are highlighting the country's crisis resilience. Earlier this year, SK Innovation E&S began directly importing LNG from Australia's Barossa gas field, establishing a long-term supply base. Following a 1.6 trillion won equity investment, the company secured an annual supply of 1.3 million tons for the next 20 years, which accounts for about 3 percent of South Korea's total annual LNG imports. This marks the first instance of a South Korean private firm independently managing the entire LNG value chain, from exploration to import. POSCO International is also expanding its long-term supply base, primarily focusing on North America. In 2024, the company secured a combined 1.1 million tons annually through 20-year contracts signed with Mexico Pacific (700,000 tons) and Cheniere Energy (400,000 tons). Deliveries from Cheniere, utilizing POSCO's dedicated LNG carrier, will begin in the second half of this year. Furthermore, POSCO is strengthening its global LNG value chain. The firm invested 926 billion won in 2024 for the phase 4 development of a Myanmar gas field, which allocates 80 percent of its output to China. In Australia, Senex Energy—acquired by POSCO in 2022 for about 400 billion won—recently increased its annual output to 1.2 million tons. This shift toward diversified private procurement is restructuring South Korea's LNG market. Currently, private companies handle about 30 percent of the country's 45 million tons of annual LNG imports, mostly for their own power generation, while the state-run Korea Gas Corp. handles the remaining 70 percent. Industry officials note that compared to past structures reliant solely on state-run enterprises, this diversification shields South Korea from policy shifts in major supplier countries like Australia and Qatar. An industry official emphasized that for heavily import-dependent countries like South Korea, "early investments and expanded direct imports by private companies are becoming increasingly crucial in times of crisis." * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-04-04 10:25:22

Macron Visits Pompidou Center Hanwha in Seoul, Calls It a Bridge Between France and Korea Hanwha Foundation said Friday that French President Emmanuel Macron visited Pompidou Center Hanwha in Seoul’s Yeouido district on Thursday during his state visit to South Korea. The visit was arranged to highlight cultural cooperation between the two countries ahead of the museum’s planned opening in June, marking the 140th anniversary of diplomatic ties between South Korea and France. Macron and his wife, Brigitte Macron, toured major areas of the museum with Catherine Pégard, France’s minister of culture; Philippe Bertoux, France’s ambassador to South Korea; and Laurent Le Bon, president of the Pompidou Center, along with other French government and cultural figures. They were joined by Lee Seong-su, chairman of the Hanwha Foundation, and Kim Dong-won, CEO of Hanwha Life. Pompidou Center Hanwha was created by remodeling an annex of the 63 Building in Yeouido. It was designed by French architect Jean-Michel Wilmotte and built as a four-story museum with a total area of 11,000 square meters. Macron also met with South Korean artists, including internationally recognized figures Kimsooja and Lee Bae, as well as emerging artists such as Kim Heecheon and Yoo Jun-young. “Pompidou Center Hanwha will serve as a bridge between France and Korea and become a platform that leads dialogue between the art communities of both countries,” Macron said. He added that he hoped the two sides would expand artist exchanges and residency programs to build a closer creative partnership. Lee said the visit “once again confirms the meaning of cooperation the two countries have built through culture and the arts” as they mark 140 years of diplomatic ties. He said Pompidou Center Hanwha will work as a cultural platform linking South Korea and France and will broaden international cultural exchanges through a range of programs.* This article has been translated by AI. 2026-04-04 09:54:17

Mortgage Rates Hit 7% in South Korea, Raising Repayment Pressure for Borrowers After moving in step with expectations of U.S. rate cuts, the broader downtrend in interest rates has been jolted by the unexpected shock of the Iran war. With hopes fading for policy-rate cuts by central banks at home and abroad, and market rates — a key benchmark for lending — rising quickly, borrowers are facing tougher choices. As of Thursday, five-year fixed-rate mortgage loans at South Korea’s five major commercial banks — KB Kookmin, Shinhan, Hana, Woori and NH NongHyup — were quoted at annual rates of 4.42% to 7.02%, according to the financial industry on April 3. The top end of the fixed-rate range rising above 7% marks the first time since October 2022, about three years and five months ago. Compared with mid-January (4.13% to 6.29%), the upper bound is up 0.72 percentage points and the lower bound up 0.29 points. Experts say the upswing is unlikely to reverse sharply in the near term and advise consumers to adjust their financial plans accordingly. With interest burdens rising, managing debt to reduce repayment pressure is emerging as the immediate priority. Borrowers who bought homes in 2020 and 2021 by maximizing loans in a low-rate environment — and who are now renewing five-year fixed-rate mortgages — are entering a period of full rate resets starting this year. In many cases, monthly interest payments are expected to rise by hundreds of thousands of won or more. Borrowers should consider using the right to request a rate cut when their circumstances qualify. Those whose loans are more than three years old may also want to use rules that waive early repayment fees, allowing them to respond more quickly as market rates move. When choosing between fixed and variable rates, borrowers should factor in the possibility that rates may stay elevated rather than fall. For customers with heavy principal-and-interest payments or high debt relative to income, a fixed rate may be more stable by reducing exposure to rate swings. By contrast, higher-income borrowers with smaller loans and a strong likelihood of early repayment may find a variable rate — with a lower initial burden — more practical. “If the war drags on and oil prices stay above $100, the Fed could raise its policy rate, and the Bank of Korea could respond with hikes,” said Choi Ji-hoon, a gold private banker team leader at Hana Bank’s Club1 Hannam PB Center. “If the policy rate rises, loan rates have no choice but to rise as well.”* This article has been translated by AI. 2026-04-04 07:03:40

Review: Kim Young-ha’s ‘What Happened to the Man Stuck in the Elevator?’ ‘Even now, I still wonder. What on earth happened to him.’ Twenty-seven years after it was published, no one knows what became of him — the man who, in 1999, got stuck in an apartment elevator in Kim Young-ha’s short story, ‘What Happened to the Man Stuck in the Elevator?’ Though I read it more than 20 years ago, several scenes remain vivid, like a film: the man wedged at the fifth floor with his upper body caught between the doors, his feet dangling outside. The narrator, a resident of the same building, sees the man on the way to work and decides to report it rather than pull him free — worried about being late. But he has no cellphone. The security guard is out on patrol, and no one will lend a phone. The day only gets stranger: the commuter bus crashes, the narrator is mistaken for a sex offender, and at work he ends up trapped in an elevator. He is rescued much later, but his suit is ruined, he is late, and an important meeting ends in disappointment. By the time he gets off work, he still has not been able to report what he saw. Back home, he asks the building manager and neighbors what happened to the man — but no one knows. More than that, no one even seems to know such an incident occurred. The shock I felt then came from how chillingly real the story made “indifference” feel. The lingering anger came, too, from the author’s refusal to provide an ending. Kim, even now, has never offered an epilogue about the man’s fate. When I first read the story, I resented the neighbors, bus passengers and co-workers who piled hardship onto the narrator. A scene in which employees debate how many squares of toilet paper to allow for bodily waste, to save supplies, felt absurd. The narrator’s helplessness also seemed pathetic. Looking back now, I see the narrator differently: timid, perhaps, but in his own way admirable — the kind of worker who keeps showing up, enduring the long years, no matter what derails the day. Over time, my irritation at the bystanders has faded, replaced by a renewed respect for the many office workers who quietly withstand routine and then absorb sudden crises, solve them and move on. Kim, who was just over 30 when he wrote the story, may have been driven by irritation at people who pride themselves on being expressionless, detached and narrowly focused on their own tasks. Whether he still thinks that way is unclear. Now nearing 60, Kim met audiences on the 1st at a matinee concert that paired music and storytelling. The program placed the author’s commentary between performances of opera arias and film music. There, Kim reflected on ‘Cinema Paradiso,’ screened at a commemorative film festival marking the 30th anniversary of his literary debut. “I used to see it as a story about having to leave,” he said, “but watching it again, I realized it was about understanding the past and the community that made you.” He also said that in spring, more people wander without a destination, and “in that process, love shows on their faces.” The sharp edges in the author’s aura seem to have softened. So have mine. With time and experience, I have come to understand more of people’s smallness — and to value compassion more. I also find myself hoping that the story’s narrator, now surely older, would do something, anything, for a stranger in danger. * Leftover Review: A review of the impressions that remain after the main takeaways from cultural content are set aside.* This article has been translated by AI. 2026-04-03 18:45:18

Shinhan Bank Sells $600 Million in Global Bonds After Drawing $7 Billion in Orders Shinhan Bank said it issued $600 million (about 9.05 trillion won) in global senior foreign-currency bonds on April 1. The deal marked the first overseas foreign-currency bond sale by a major South Korean commercial bank since tensions in the Middle East rose following the war between the United States and Iran. Investor demand totaled about $7 billion (about 10.563 trillion won), the bank said. The bonds were issued as development finance notes, aimed at creating social and economic value by supporting climate-change response, expanding financial inclusion and backing small and midsize businesses. The offering was split evenly between a $300 million, three-year floating-rate note and a $300 million, five-year fixed-rate note. The spread on the three-year FRN was set at 0.58 percentage points over SOFR, a U.S. risk-free benchmark rate. The five-year fixed-rate note was priced at 0.43 percentage points over the yield on a U.S. Treasury of the same maturity. A Shinhan Bank official said the bank achieved a stable result by broadening its investor base and maintaining communication despite continued volatility in global markets. The official said the bank will pursue sustainable growth based on trust with global investors.* This article has been translated by AI. 2026-04-03 17:36:00

Korean stocks rebound as Hormuz risks recede, foreign inflows return SEOUL, April 03 (AJP) - Asian markets swung mostly higher Friday as governments from the Middle East to Europe scramble to reopen the Strait of Hormuz. The benchmark KOSPI led gains, closing up 2.7 percent at 5,377.3, as foreign and institutional investors returned to net buying. The won strengthened to 1,507.9 per dollar. The move followed reports that Iran is working with Oman on a maritime protocol to manage transit through the Strait of Hormuz, a route that handles roughly 20 million barrels of oil per day. The development eased immediate concerns over prolonged supply disruptions, though tensions remain elevated. Foreign investors bought a net 808.5 billion won ($536 million) of stocks, while institutions added 723.8 billion won. Retail investors sold 2.09 trillion won, indicating profit-taking into the rebound. Energy-linked sectors led the rally. Equipment and services firms surged 12.35 percent, shipbuilders rose 6.6 percent and trading companies gained 6.7 percent, reflecting continued positioning around energy security and logistics risks. Semiconductors also drove gains. Samsung Electronics climbed 4.4 percent to 186,200 won, while SK hynix advanced 5.5 percent to 876,000 won, tracking steady U.S. tech performance. By contrast, rate-sensitive heavyweights lagged. LG Energy Solution fell 1.5 percent to 398,500 won and Samsung Biologics declined 2.0 percent to 1,554,000 won, pointing to lingering caution. The KOSDAQ rose 0.7 percent to 1,063.8, giving up part of its earlier gains after hitting an intraday high of 1,083.24. Foreign and institutional investors sold a combined 413.8 billion won, while retail investors bought 406.0 billion won, signaling weaker conviction in smaller, growth-oriented stocks. In currency markets, the won gained 0.34 percent against the dollar, while the dollar index edged down 0.07 percent to 99.95. The VIX fell 2.7 percent to 23.9, indicating easing near-term volatility. Still, oil prices held above $110 per barrel, suggesting that risks tied to Hormuz are not fully priced out. Japan’s Nikkei 225 rose 1.3 percent, while China’s Shanghai Composite fell 1.0 percent and Hong Kong’s Hang Seng slipped 0.7 percent. 2026-04-03 17:31:54

BTS '2.0' MV channels Oldboy noir as cinematic callbacks spark global buzz SEOUL, April 03 (AJP) - A few Korean films have left a deeper imprint on global cinema than Oldboy (2003), the brutal, operatic noir that propelled director Park Chan-wook onto the world stage — with a Cannes Grand Prix and admiration from filmmakers including Quentin Tarantino. Its side-scrolling corridor fight, shot in a single take, has since become one of the most imitated sequences in modern cinema. Now, that visual language has found an unlikely new interpreter: BTS. The music video for “2.0,” from the group’s comeback album Arirang, has surged across global platforms, drawing immediate attention for its striking parallels to Park’s signature style. Released Tuesday via Hybe Labels’ YouTube channel, the video surpassed 16 million views within 24 hours and topped YouTube’s trending music chart. The album’s title track “Swim” posted around 30 million views on its first day. The video opens with RM, Jin, Suga, J-Hope, Jimin, Jungkook and V stepping into a stylized past — retro hair, vintage tailoring, mustaches and beards — before moving into a dimly lit corridor staged for confrontation. What follows is a clear visual homage. In Oldboy, Choi Min-sik’s protagonist battles waves of attackers in a claustrophobic hallway, captured in a lateral tracking shot that has since become iconic. BTS mirrors the composition: the members advance in formation as the camera glides sideways, flanked by opponents, blending choreography with cinematic tension. The sequence adopts a one-take structure, placing multiple figures within a compressed horizontal frame. Everyday objects — from newspapers to back scratchers — are used as props, injecting a note of absurdity into an otherwise controlled, high-stakes setting, a tonal contrast long associated with Park’s direction. The references extend further. Later scenes unfold in an office setting closely resembling a key location from the film, while visible newspaper headlines — including “Brand New 2.0 Launch” and “Hidden Code Discovered” — fold the narrative back into the track’s thematic frame. Released in 2003, Oldboy drew more than 3 million viewers in South Korea and went on to win the Grand Prix at the 2004 Cannes Film Festival. Its corridor sequence, staged in a confined space and executed in a lateral one-take composition, remains one of the most recognizable images in Korean noir. Online, the parallels have not gone unnoticed. Social media users have circulated side-by-side comparisons, with one post on X reading, “This is literally the Oldboy hallway scene but BTS version,” while another described it as “not an ‘Old’ boy — brand new Oldboy,” underscoring how viewers are decoding the visual references in real time. The track itself debuted at No. 50 on the Billboard Hot 100, adding commercial weight to the artistic conversation. More broadly, the video reflects a shift in K-pop production, where music videos increasingly draw on established cinematic language — particularly from Korean film — to construct globally legible narratives beyond performance-driven formats. In a separate development, BTS also announced a new single, “Come Over,” set for release as part of a deluxe vinyl edition of Arirang, extending the group’s promotional cycle following their return after nearly four years. 2026-04-03 17:31:44

Korea's credit market shows crunch signs as demand dries up SEOUL, April 3 (AJP) — Spring has arrived, but South Korea’s debt market remains stuck in a winter chill, especially for sub-investment-grade issuers, as surging bond yields, weak demand and a cheapened won erode the appeal of Korean assets. Government bond yields have climbed back to levels last seen in November 2023, when the benchmark rate stood at 3.50 percent during the post-pandemic tightening cycle — even as the current policy rate has been held at 2.50 percent for nearly a year. The three-year government bond yield on Friday approached 3.5 percent, up more than 50 basis points this year, while the 10-year yield rose to around 3.8 percent, gaining over 60 basis points. The increase is roughly twice that of Japanese government bonds and more than triple the rise in U.S. 10-year Treasury yields, which have climbed about 15 basis points. Some relief came as South Korean sovereign bonds began their inclusion in the World Government Bond Index (WGBI) on April 1, but yields quickly resumed their upward march as initial optimism faded. The strain is more acute further down the credit curve. Corporate bond issuance totaled 21 trillion won ($14.2 billion) in the first quarter, down 30 percent from a year earlier, according to the Korea Financial Investment Association. Yields on lower-rated debt have risen even faster. The three-year AA- yield has jumped more than 70 basis points to above 4 percent, while BBB- yields are nearing 10 percent. Demand has narrowed sharply to top-tier borrowers. The share of demand for AA-rated corporate bonds rose to 93 percent in January 2026 from 81 percent a year earlier, underscoring an increasingly selective market. Hanwha Aerospace, rated AA, drew 3.23 trillion won in bids for its Jan. 14 offering — nearly 13 times its initial 250 billion won target — prompting the company to double issuance to 500 billion won. Similarly, AA- rated E-Mart attracted 1.94 trillion won in orders against a 300 billion won target. The retailer’s improved earnings outlook, including a 585 percent surge in operating profit in 2025, helped offset concerns over intensifying competition with Coupang. The flight to quality is deepening refinancing pressure for lower-rated firms. Lotte Engineering & Construction (A) and CJ CGV (A-) have repeatedly withdrawn bond sales due to weak demand. Geopolitical risks are compounding the stress. The ongoing disruption of the Strait of Hormuz — a critical artery for global energy flows — has driven up oil prices and dampened investor appetite for riskier credit. At the same time, financial institutions are ramping up issuance to shore up balance sheets against rising delinquencies. Financial bond issuance surged 17.5 percent on-year to 76.4 trillion won in the first quarter. Liquidity remains ample but is adding to market distortions. Broad money (M2) reached 4,560.6 trillion won as of January, up 8.5 percent from a year earlier. Even under a narrower classification, it rose 5.8 percent to 4,108.9 trillion won — still outpacing major economies. With excess liquidity weighing on the won and energy-driven inflation risks mounting, the Bank of Korea has already shifted its stance. It removed references to rate cuts from its January policy statement, even before the Middle East conflict escalated. “As uncertainty grows, demand concentrates in top-rated bonds, including financial debt,” said Daeil Ahn, head of Korea debt capital markets at Citi. Ultimately, both the surge in financial issuance and the concentration of demand reflect deepening market anxiety. “The strengthening preference for safe assets is pushing flows into high-grade bonds,” said Kim Ki-myung, an analyst at Korea Investment & Securities, noting that the tilt toward AA-rated paper reflects heightened risk aversion. Lee Jae-hyung, a researcher at Yuanta Securities, added: “The widening of credit spreads is a direct reflection of investors’ increasing risk-avoidance.” 2026-04-03 17:24:35

National Dance Company Premieres 'Gwi-hyang,' a Dance Drama on a Mother's Love Mother, I’m back/After passing dark, damp cliffs/I ran through the long night/As wind returns to the wind’s home to rest/I ran with only one heart. (From Kim Seong-ok’s poem “Gwi-hyang”) The National Dance Company of Korea will present “Gwi-hyang” as its first new production of the year. The dance drama blends the lyricism of Korean dance with a theatrical narrative, drawing on Kim Seong-ok’s poem “Gwi-hyang” to stage the inner memories and emotions between a mother and her son. Artistic Director and company head Kim Jong-deok said at a news conference on April 3 at the National Theater of Korea in Seoul that “Gwi-hyang” is a work he created to connect and communicate with audiences, built from a story he felt most deeply. He said he drew inspiration from his mother and his hometown. Kim has often addressed social phenomena and broad themes, but said he came to feel limits in working that way. For this piece, he chose what remained most vivid in his heart: parents, family and home. Centered on family and longing that many can relate to, the production adds modern stage design to the restrained aesthetics of Korean dance. Company member Jang Hyun-su, who plays the mother, portrays a devoted love for her child with small, detailed gestures. She hums the song “Spring Days Pass,” and speaks into empty air as if her son were beside her, expressing a mother living with dementia. During the news conference, Jang Hyun-su became emotional while speaking about her mother. “I like the song lyric, ‘A pale pink skirt fluttered in the spring breeze.’ When I sing that song thinking of my mother, it makes my heart ache,” she said. “I think, my mother must have suffered so much. A mother is also a woman.” Company member Jang Yoon-na, who plays the mother in her younger years, said she also immersed herself in the role. “I play the mother as she moves from her brilliant 20s and 30s through her 40s and 50s,” she said. “I’m also a mother in my mid-40s with two children, and I’m trying to express the sorrow by imagining what it would feel like to lose the son who was my whole world.” The work has three chapters: the mother’s present at the end of her life; the story of mother and son; and a process of looking back on the mother’s life. The stage traces passing years, love and separation, memory and reconciliation, wounds and longing, and a journey toward recovery and comfort. For Kim, a mother’s love is like a gardenia. “Gardenias are simple, but their fragrance is strong,” he said. “When I think of my mother, I think of a gardenia — not flashy, but with a gentle scent that carries far. It’s a kind of medium for expressing the memories and love in my heart.” “Gwi-hyang” runs April 23-26 at the Haeoreum Grand Theater at the National Theater of Korea. * This article has been translated by AI. 2026-04-03 17:24:15

Learning to plant green on Arbor Day SEOUL, April 03 (AJP) -Arbor Day may have faded from public attention, but in pockets of Seoul it still lives on — especially for children discovering the simple joy of planting a tree. In Gangnam, that spirit took root along Yangjaecheon on Friday. To mark the 81st Arbor Day on April 5, Gangnam-gu hosted the “Our Neighborhood Green Donation Challenge – Garden Forest of Participation” at Gaepo-dong Neighborhood Park, drawing some 500 participants — from local residents and donors to children, Saemaul members and volunteer gardeners. Together, they transformed a stretch of parkland into a shared green space. Participants planted 94 trees, including kousa dogwoods and maples, alongside some 1,000 shrubs such as azaleas and euonymus. Flower beds were laid out and benches installed, turning the site into a community-built garden. More than a one-day event, the initiative reflects a shift toward participatory urban greening — where residents do not just use public spaces, but help create and care for them. For many of the children, it was also a rare, hands-on reminder of a holiday that once held a firm place in the national calendar — now quietly kept alive, one sapling at a time. 2026-04-03 17:11:13