Cheong Wa Dae to form emergency task force to monitor Middle East fallout SEOUL, March 25 (AJP) - An emergency task force will be set up within Cheong Wa Dae to respond to potential economic shocks as the conflict in the Middle East drags on with no clear end in sight. During a press briefing at Cheong Wa Dae in central Seoul on Wednesday, Hong Ik-pyo, senior presidential secretary for political affairs, said the emergency situation room, led by presidential chief of staff Kang Hoon-sik, will be created, separately from the existing government-wide emergency unit headed by Prime Minister Kim Min-seok. Hong said the new body is intended for crisis management in response to domestic and international developments related to the prolonged conflict in the Middle East, which began with U.S.-led airstrikes on Iran late last month. It will be divided into five working-level groups to preemptively respond to potential economic emergencies, with senior presidential secretaries responsible for each group. Each group will be assigned to specific areas including macroeconomics, energy supply, financial stability, public welfare and overseas emergencies, and will be required to submit daily monitoring reports. Their findings will also be regularly disclosed to the public. Meanwhile, Hong said details of a supplementary budget to support those affected by energy supply disruptions and others will be finalized at a regular Cabinet meeting next week, though they remain subject to change depending on preparations by fiscal authorities. 2026-03-25 14:20:59

Woori Bank Launches AI System to Detect Suspicious Transactions Woori Bank said on the 25th it has launched an artificial intelligence-based fraud detection system (FDS) inspection platform to help prevent financial incidents and automate work. The system is designed to let AI learn transaction patterns on its own and flag new types of financial wrongdoing. Using the bank’s full set of financial transaction data, it screens for unusual signs and uses AI to automatically generate inspection data and preliminary scenarios. After the scenarios are checked for accuracy, they are applied to actual inspections, which the bank said can strengthen prevention through daily monitoring. The platform also analyzes unstructured data such as scanned images and applies retrieval-augmented generation (RAG) to make large volumes of inspection materials easier to use, improving the efficiency of internal controls. RAG is an AI method that automatically finds and organizes needed information, reducing the time staff spend reviewing documents and enabling faster checks. A Woori Bank official said the upgraded AI-based FDS inspection system will expand the scope of daily monitoring and allow the bank to respond proactively to hard-to-predict financial incidents. The official said the bank will actively introduce AI into internal controls as part of its shift to an AI transformation-based management system to help prevent financial incidents.* This article has been translated by AI. 2026-03-25 14:15:00

KBO preseason sets attendance record with 440,247 fans in 60 games The KBO League drew a record number of fans to its preseason schedule this year. The Korea Baseball Organization said Tuesday that 440,247 fans attended 60 games in the 2025 Shinhan SOL KBO League preseason through Monday, the highest single-season total in preseason history. The previous record was 321,763 set last year. With the regular season a week away, attendance topped 80,000 on consecutive days March 21-22, for a combined 163,626. On March 22, the KBO set a single-day preseason record with 83,584 fans. Cumulative attendance rose 36.8% from a year earlier. Average attendance per game was 7,337, down about 4.2% from last year’s record 7,661 over 42 games, affected by eight games scheduled at Futures League parks such as Icheon and Masan. Games averaged 2 hours, 52 minutes, up 7 minutes from last year. Strikeouts per game fell 4.4% to 14.45, while walks rose 0.3% to 7.88. The leaguewide ERA increased 35.0% to 5.25 from 3.89. Hits per game climbed 12.7% to 18.23 from 16.17. Home runs rose 57.1% to 1.98 per game from 1.26, and batting average increased 9.0% to .267 from .245.* This article has been translated by AI. 2026-03-25 14:00:35

APFF 2026 probes why Korean finance sector fails to move beyond home turf SEOUL, March 25 (AJP) -South Korea’s manufacturers and pop culture have gone global, but its financial industry still struggles to move beyond home turf — a gap that took center stage at the 2026 Asia-Pacific Financial Forum in Seoul on Wednesday. Hosted by Aju Business Daily and ABC, this year's forum held at The Plaza Hotel asked “In the AI era, why has Korean finance yet to cross borders?” The event sought to diagnose the structural limitations holding back Korea’s financial industry and to explore how its role and competitiveness should be redefined in the age of artificial intelligence. Now in its 19th year, the APFF has established itself as a platform for discussing strategies to help Korean finance grow beyond its home market. The forum brought together leading experts from South Korea and abroad for a series of high-level lectures and discussions. Agustín Carstens, former general manager of the Bank for International Settlements (BIS), delivered the keynote speech titled, “Why K-industry is global, but K-finance remains local,” focusing on the challenges facing Korea’s financial sector and its future potential. 2026-03-25 13:37:14

Asian markets open higher on US peace plan for Iran; KOSPI lifted by SK hynix's IPO filing SEOUL, March 25 (AJP) - Asian markets opened higher on Wednesday after reports that the U.S. had sent a proposal to Iran to end the conflict in the Middle East, while Israel had reportedly proposed a one-month ceasefire. But amid continuing conflicting signals from Washington and Tehran, U.S. stocks closed lower the previous day, with the Dow Jones Industrial Average down 0.18 percent, while the S&P 500 and Nasdaq fell 0.37 percent and 0.84 percent, respectively, as earlier optimism for a possible end to the conflict faded. Among megacap tech stocks, Nvidia fell 0.25 percent and Amazon dropped 1.38 percent, while Tesla rose 0.57 percent and Apple edged up 0.06 percent. The Philadelphia Semiconductor Index rose 1.28 percent. In Japan, Nikkei 225 rose 2.54 percent to 53,581.99 in morning trade. The stock gains are supported by improving economic fundamentals as the island country emerges from decades of deflation. Corporate earnings have also been strong, with major listed firms expected to post record profits for a fifth consecutive year, supported by broad growth across semiconductors, services, and tourism. Hong Kong's Hang Seng Index also gained 0.87 percent to 25,280.52, China's Shanghai Composite rose 1.78 percent to 3,881.28 and Taiwan's TAIEX rose 3.22 percent to 33,661.02. In Seoul, the benchmark KOSPI rose 2.19 percent at the open, and the junior KOSDAQ gained 0.94 percent, before extending gains to trade up 3.18 percent to 5,730.30 and 3.23 percent at 1,157.49, respectively. SK hynix shares rose after the chipmaker said it had filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) the previous day, seeking a U.S. listing via American Depositary Receipts (ADRs), with plans to complete the listing within this year. ADRs allow foreign companies to trade their shares on U.S. exchanges, providing broader access to global investors. SK hynix shares were up 3.85 percent at 1,024,000 won in early morning trade. Major KOSPI heavyweights traded broadly higher, led by chipmakers and autos. Samsung Electronics rose 2.74 percent to 194,900 won, Hyundai Motor advanced 2.85 percent to 506,000 won, and Kia rose 2.28 percent to 161,500 won. LG Energy Solution edged up 0.38 percent to 394,000 won. SK Inc. rose 3.87 percent to 618,000 won, Samsung Biologics gained 3.10 percent to 1,595,000 won, and Hanwha Aerospace added 1.05 percent to 1,349,000 won. Doosan Enerbility climbed 1.35 percent to 101,450 won. KB Financial Group advanced 2.65 percent to 150,800 won, Shinhan Financial Group rose 3.67 percent to 93,300 won, Mirae Asset Securities jumped 5.56 percent to 64,500 won, and Samsung Life Insurance climbed 3.38 percent to 229,500 won. But HD Hyundai Heavy Industries fell 1.55 percent to 508,000 won, and Hanwha Ocean edged down 0.08 percent to 122,200 won. In the KOSDAQ, Samchundang Pharm surged 11.22 percent to 1,041,000 won, leading gains. The rebound followed a brief pullback in the previous session on profit-taking after a five-day winning streak last week. The won strengthened slightly to 1,493.70 per dollar from a previous close of 1,495.2. 2026-03-25 11:29:54

Korea's consumer confidence at 10-mo low March, sharpest drop since martial law shock SEOUL, March 25 (AJP) -South Korea’s consumer confidence fell to a near one-year low in March, posting its steepest monthly decline since the brief martial law episode in late 2024, as prolonged disruptions in the Strait of Hormuz fuel concerns over a stagflationary shock in the import-dependent economy, central bank data showed Wednesday. The composite consumer sentiment index (CCSI) stood at 107.0 in March, down 5.1 points from the previous month, according to the Bank of Korea. The reading marked the lowest level since 101 recorded in May 2025 and the sharpest drop since December 2024, when a short-lived martial law declaration rattled markets and public sentiment. The CCSI is a composite gauge of consumer perceptions, combining six sub-indices that track current living standards, household income and spending outlook, and broader economic conditions. A reading above 100 indicates optimism relative to the long-term average from 2003 to 2024, while a reading below 100 signals pessimism. The latest decline reflects mounting anxiety over energy supply disruptions stemming from the ongoing conflict in the Middle East. Since late February, joint U.S.-Israel strikes on Iran have disrupted the Strait of Hormuz — a critical chokepoint through which roughly one-fifth of global energy shipments pass — while also forcing a suspension of some Qatari gas flows. The shock is particularly acute for South Korea, which relies heavily on the region for energy imports. According to the Korea International Trade Association, 68.8 percent of Korea’s crude oil imports and 19.7 percent of its natural gas imports came from the Middle East in 2025. Sub-indices showed a broad-based deterioration in sentiment. The index measuring current economic conditions plunged 9 points to 86, while the outlook for the economy over the next six months dropped a steeper 14 points to 89, underscoring growing concerns over the war’s spillover effects. Income-related indicators also weakened. The index for current household income fell 3 points to 97, slipping into pessimistic territory, while the outlook for future income edged down 2 points to 101. Inflation expectations ticked higher. The perceived current inflation rate was at 2.9 percent, while expected inflation for the next 12 months increased by 0.1 percentage point to 2.7 percent, marking the first uptick in five months. The housing price outlook index dropped 12 points to 96, falling below the neutral 100 mark for the first time in 13 months since February 2025, extending a sharp 16-point decline in the previous month amid tightening property regulations. The index suggests that more respondents now expect home prices to decline over the next year than to rise, adding to signs of a broader cooling in domestic demand expectations. 2026-03-25 11:13:35

Natural scenery lures over 2 million foreigners to South Korea's national parks SEOUL, March 25 (AJP) - Over 2 million foreigners visited national parks in South Korea last year, with Mt. Hallasan on the southern resort island of Jeju attracting the most visitors, according to an analysis released by the Korea National Park Service (KNPS) on Wednesday. Among them, an estimated 1.13 million were overseas tourists and 920,000 were foreign residents living in here. The ballpark figures were based on mobile roaming data from foreign visitors, which the KNPS analyzed to track their itineraries in national parks across the country. Mt. Hallasan drew the most foreign visitors with 270,000, followed by Dadohaehaesang National Park, a sprawling park along the southwestern coast with 140,000, and Taeanhaean National Park in South Chungcheong Province and Hallyeohaesang National Park in southern coastal areas with 130,000 each. The NPS attributed the parks' popularity to their scenic beauty, with picturesque beaches and rock formations. By nationality, Chinese visitors made up the largest group with 250,000 or 21.9 percent, followed by Taiwanese with 130,000, Filipinos with 90,000, Indonesians with 80,000 and Americans with 60,000. To respond to a growing number of foreign visitors to national parks, the KNPA said it plans to provide more promotional videos, English-language programs, and other services tailored to foreigners, including rentals of backpacks, hiking shoes, and other safety gear. "The influx of foreign visitors to national parks reflects that natural scenery is a key draw for travelers, which would also enhance South Korea's competitiveness in tourism," KNPS chairman Joo Dae-young said. 2026-03-25 10:39:51

Kang Daniel Shares New Photos in Army Uniform After Enlistment Singer Kang Daniel has shared an update since enlisting in the military. Kang posted a photo to his account on March 24. The image showed a military uniform bearing the Taegeuk emblem and his name. Two photos were also posted the same day on Kang's official account. In one photo, Kang smiled while holding a paper-flower bouquet with messages reading, "Congrats on completing training, Private Second Class Kang Daniel," "Our Daniel, you worked so hard," and "Let's stay healthy until discharge day." Another photo showed him saluting in uniform. Kang enlisted as an active-duty soldier in the Army on Feb. 9. At the time, he wrote in a handwritten letter, "I kept thinking about the timing (of enlistment), but I didn't expect it to be delayed this much," adding, "In a way, I also feel relieved. It's an honor to be able to carry out my duty to national defense in good health." * This article has been translated by AI. 2026-03-25 10:39:19

BOK chief nominee's hawkish instincts to face Gulf-driven inflation test SEOUL, March 24 (AJP) —The choice of former Bank for International Settlements (BIS) economist Shin Hyun-song as the new central bank chief reflects a “firefighting” role against the Gulf War-driven perfect storm South Korea faces, and according to a former BIS colleague, he is best suited for the job. How far and how fast the Bank of Korea governor nominee will translate his hawkish academic stance into policy is now the market’s central question, as Shin is set to take the helm amid growing inflationary pressure from the Gulf war fallout. President Lee Jae Myung on Sunday has tapped Shin, a former BIS head of research, as the next BOK governor. Shin, according to Agustín Carstens - former general manager of the Bank for International Settlements (BIS) in Seoul to speak at the Asia-Pacific Financial Forum hosted by Aju Media Corp. on Wednesday - “has a mixture of characteristics that is very unique.” He "knows the Korean economy and financial system very well, and is an expert in macroeconomics and finance, including the connections between Korea and the rest of the world", Carstens said, adding that makes him the ideal monetary chief to “assess the shocks that the world and financial system is experiencing and to assess how it would affect the Korean economy very well.” Given his academic track record, Shin is widely viewed as more responsive to shocks than incumbent Rhee Chang-yong, whose policy stance has often been seen as cautious. Critics, including Democratic Party lawmaker An Do-geol, argue that the BOK’s passive signaling under Rhee contributed to a surge in household lending. “With the won hovering near 1,500 and 10-year yields pushing above 3.8 percent, the president appears to have seen a ‘firefighter’ in Shin,” an anonymous finance ministry official said. Markets have already begun pricing in a more hawkish turn. The three-year bond yield spiked to above 3.6 percent and the 10-year yield climbed to 3.8 percent upon the announcement, sharply above the 2.50 percent base rate. Shin’s reputation as a policy hawk dates back to his early work during the global financial crisis. In a Federal Reserve Bank of New York paper, he warned that loose monetary policy fuels balance sheet expansion and asset bubbles, underscoring the need for preemptive tightening. He reinforced that stance in a 2022 interview, arguing that “it is better to overreact with rate hikes than to be timid” when tackling inflation. His framework extends beyond rate policy. In a 2012 NBER paper, Shin highlighted “non-core liabilities” such as certificates of deposit and financial bonds as key sources of systemic risk, calling for tighter monitoring during credit booms. Yet Shin is not a one-dimensional hawk. At the BIS, he has also emphasized policy calibration. In a March 16 briefing on a potential Strait of Hormuz disruption, he suggested central banks may “look through” temporary supply shocks rather than react mechanically with rate hikes. This places Shin at the center of a clear policy tension: a hawk in principle, but pragmatic in execution. His communication philosophy also signals a shift. In a 2017 BIS speech titled “Can central banks talk too much?”, Shin warned that excessive signaling risks trapping policymakers in an “echo chamber,” diminishing the effectiveness of forward guidance. This contrasts with Rhee’s tenure, which featured frequent communication on structural factors such as demographics, supply chains and social dynamics. Despite these nuances, few dispute that Shin will respond proactively to inflation risks. “We expect Shin to favor tightening once excess liquidity and easing financial conditions become evident,” said Kim Jin-wook of Citi, who forecasts two 25-basis-point hikes this year. KB Securities’ Lim Jae-kyun did not fully agree, saying that if the Gulf-driven shock proves temporary and inflation expectations remain anchored near 3 percent, the BOK may refrain from immediate tightening. Beyond traditional monetary policy, the BOK under Shin's watch is expected to accelerate digital agenda. Carstens, described him as a "world-leading expert" in the impact of technological change, including tokenization and artificial Intelligence and was confident Shin would bring "a lot of dynamics, or continue the dynamics, of what the Bank of Korea has started to do in terms of digitizing the financial system and the role of the central bank.” 2026-03-25 10:04:02

Park Jihoon to Return as Singer With 'RE:FLECT' Single Album on April 29 Singer and actor Park Jihoon is returning with a new release for the first time in three years. YY Entertainment said it posted a coming-soon image for Park’s first single album, ‘RE:FLECT,’ on its social media accounts at midnight on the 25th. The album is set for release at 6 p.m. April 29. The poster features a white envelope and white feathers. The word ‘RE:FLECT’ and an angel illustration on the envelope create a mysterious, dreamlike mood. ‘RE:FLECT’ will be Park’s first new music since his seventh mini album, ‘Blank or Black,’ released in April 2023. The agency said the album reflects on time that has passed and the emotions left behind, as Park looks at himself in the present. Park recently appeared in the film ‘The Man Who Lives With the King.’ He will meet fans again as a singer with the new release. Ahead of the album, Park will hold a fan meeting titled ‘Same Place’ on April 25 and 26 at YES24 Live Hall in Seoul’s Gwangjin District. ‘RE:FLECT’ will be available at 6 p.m. April 29 on major online music platforms.* This article has been translated by AI. 2026-03-25 10:00:39