KOSPI jumps as Iran strike fears ease, oil prices tumble SEOUL, March 24 (AJP) — South Korea’s benchmark KOSPI opened sharply higher on Tuesday upon expectation of a potential truce. Seoul’s main index rose 4.39 percent to 5,643.00 at the open, while the KOSDAQ gained 3.47 percent to 1,135.00. Gains later pared to around 2 percent as conflicting remarks from Washington and Tehran over a possible truce tempered early optimism. U.S. President Donald Trump delayed a potential strike on Iran by five days and signaled openness to negotiations, raising hopes for early de-escalation. The rally was further supported by a sharp drop in oil prices and easing bond yields. West Texas Intermediate crude plunged 10.3 percent to the high-$80 range per barrel, while the U.S. 10-year Treasury yield slipped to around 4.34 percent. The decline in oil prices reflected expectations of diplomatic progress and a normalization of supply, though volatility driven by geopolitical headlines is likely to persist. Major KOSPI heavyweights moved broadly higher. Samsung Electronics rose 3.92 percent to 193,600 won, while SK hynix jumped 5.47 percent to 984,000 won. Hyundai Motor advanced 3.30 percent to 501,000 won, and LG Energy Solution gained 4.92 percent to 373,500 won. Among other large caps, Samsung Biologics added 2.10 percent to 1,555,000 won. Hanwha Aerospace edged up 1.41 percent to 1,296,000 won, and Doosan Enerbility climbed 3.18 percent to 103,900 won. Financials and industrials also traded higher. KB Financial Group gained 2.41 percent to 148,800 won, HD Hyundai Heavy Industries rose 2.99 percent to 517,000 won, and Samsung C&T climbed 3.10 percent to 283,000 won. Celltrion advanced 2.97 percent to 193,900 won, while Samsung Life Insurance added 2.76 percent to 223,500 won. Shinhan Financial Group rose 1.22 percent to 91,000 won, Hanwha Ocean gained 3.11 percent to 122,600 won, and Mirae Asset Securities advanced 3.07 percent to 63,800 won. Hyundai Mobis increased 2.10 percent to 389,000 won, while HD Hyundai Electric jumped 3.83 percent to 948,000 won. Kia was the only major decliner, falling 2.04 percent to 158,400 won. 2026-03-24 10:44:01

NH NongHyup Bank Launches Principal-Protected ELD With Up to 10.1% Annual Return NH NongHyup Bank said March 24 it will launch its “Equity-Linked Deposit (ELD) 26-1,” a principal-protected product that guarantees principal and a minimum contracted interest rate if held to maturity, while offering potential additional returns. The one-year deposit is linked to the KOSPI 200 index, with returns determined by index movements. It comes in three types: Stable I, Return I and Return II. The KOSPI 200 Stable I type offers annual returns from 2.6% to 3.10% (2.45% to 2.95% for corporate customers), depending on the underlying asset’s gain. The KOSPI 200 Return I type offers 2.4% to 5.4% (2.25% to 5.25% for corporate customers). The KOSPI 200 Return II type offers up to 10.1% annually (9.95% for corporate customers). Subscriptions will be accepted from March 25 to April 3 through branches nationwide, as well as NH All One Bank and NH Smart Banking. “ELDs are products that protect principal at maturity while allowing customers to seek additional returns,” said Park Hyun-ju, executive vice president for personal finance at NongHyup Bank. “We will continue to support customers in building stable assets through a range of products.”* This article has been translated by AI. 2026-03-24 10:13:20

KB Financial to Launch 20 Trillion Won Productive Finance Plan, Create Corporate Investment Fund KB Financial Group will push a 20 trillion won "KB Kookmin Happiness Growth Project" in 2026 to foster advanced strategic industries and support small business owners. KB Financial said on the 24th it held its third group productive finance council meeting at KB Kookmin Bank's new building in Seoul's Yeouido district and finalized a detailed execution plan. The project will run on two pillars: "growth" to back companies and industries, and "hope" to expand inclusive finance. The 20 trillion won plan for this year consists of 2 trillion won for the Kookmin Growth Fund, 3 trillion won in group in-house investment, 12 trillion won in corporate loans and 3 trillion won in inclusive finance. To expand venture investment and support promising companies, the group plans to create a corporate investment master fund of 200 billion won a year and invest a total of 1 trillion won over five years in advanced industries and other areas. The fund is a mid- to long-term project financed solely with capital from affiliates including KB Kookmin Bank, KB Securities and KB Insurance. KB Financial said it will invest in a matching-fund structure linked to policy funds, aiming for a multiplier effect that could supply up to 10 trillion won in investment resources to the market over the next five years. It added that links to policy finance have been strengthened after KB Asset Management was selected as a manager for the government's "public participation fund." KB Financial also said it will reorganize and refine evaluation systems to improve execution. It created dedicated working groups for investment banking and corporate lending. KB Kookmin Bank introduced a separate productive finance indicator into its 2026 key performance indicators, and said it will reflect preferential standards across branch profitability and growth assessments to speed a shift toward corporate finance. To strengthen screening capabilities, the group set up an "advanced strategic industry screening unit" and hired outside specialists, including patent attorneys. Working with related institutions such as the Korea SMEs and Startups Agency, KB Financial said it plans to build a comprehensive financial support system spanning the discovery of promising small and venture firms through the development of unicorn companies. Kim Seong-hyeon, head of KB Financial's corporate and investment banking market division, said shifting to productive finance is "an essential task for the group's sustainable growth" beyond its social role, and said all affiliates must embed it into routine financial activities. * This article has been translated by AI. 2026-03-24 10:12:52

Celltrion to Invest 1.2265 Trillion Won to Expand Songdo Drug-Substance Plants Celltrion said Tuesday it will move to secure new production capacity, including a major expansion at its headquarters campus in Songdo, Incheon, with investment topping 1 trillion won. The company said the plan is aimed at meeting rising global demand for biopharmaceuticals and strengthening manufacturing competitiveness. The expansion will be carried out in phases from this year through 2030 and will cover infrastructure at its Songdo campus, U.S. production base and other domestic sites. At the Songdo campus, Celltrion will invest 1.2265 trillion won to expand Plants 4 and 5 at the same time, bringing total capacity to 180,000 liters. The new facilities will apply automation and smart-factory technology, the company said, enabling production ranging from small batches of multiple products to large-scale manufacturing. Celltrion said this should also speed preparations to produce future biosimilars and new drugs. To bolster competitiveness in the U.S. market, Celltrion said it has finalized the scale of an expansion at its Branchburg, New Jersey, facility. It plans to increase capacity there from 66,000 liters to 75,000 liters, securing total drug-substance (DS) capacity of 141,000 liters. The Branchburg site is expected to play an important role in local supply for the Celltrion Group and in expanding its contract manufacturing (CMO) business, the company said. Celltrion is also pushing to strengthen drug-product (DP) manufacturing. A new DP facility being expanded at the Songdo campus is nearing completion within the year and, once operating, will be able to produce 6.5 million liquid vials annually. Combined with the maximum output of the DP line at Plant 2, total DP capacity in Songdo would reach 10.5 million vials, the company said. A new DP plant planned for an industrial complex in Yesan, South Chungcheong province, has already had its site finalized, with design work scheduled to begin within the year. Celltrion said that once the Yesan DP plant is completed and a planned expansion of Celltrion Pharm’s prefilled syringe (PFS) production facilities is finished, the group would be able to internalize about 90% of its global DP needs. The company said it expects significant manufacturing cost savings compared with overseas DP CMO production. Celltrion said it is closely reviewing safety management systems for all ongoing construction projects. All expansion projects across the group, including Plants 4 and 5, will proceed with safety as the top priority, it said. A Celltrion official said the investment decision was made to respond to surging global demand for biopharmaceuticals while strengthening cost competitiveness and supply stability. “We will build manufacturing infrastructure that covers the CMO business as well, centered on the growth engines of new drugs and biosimilars,” the official said.* This article has been translated by AI. 2026-03-24 10:12:00

Celltrion to invest 1.2 trillion won in new Songdo plant, expanding drug substance capacity to 571,000 liters SEOUL, March 24 (AJP) - Celltrion announced plans to invest about 1.23 trillion won ($821 million) to build two new drug substance manufacturing plants at its Songdo campus in Incheon, as it moves to meet rising global demand for its biosimilar and novel drug products. The new Plants 4 and 5 will add 180,000 liters of drug substance (DS) production capacity to Celltrion's existing network, the company said Tuesday. Combined with a separately announced expansion at its Branchburg, New Jersey facility — where planned capacity has been increased to 75,000 liters from 66,000 liters — the company's total DS capacity is expected to reach 571,000 liters, up from the current 316,000 liters. The phased investment will run from this year through 2030 and encompasses facilities in South Korea and the United States. Celltrion said the new Songdo plants will be equipped with advanced automation and smart factory technology to enable both small-batch and large-scale production. "This investment decision will serve as an opportunity to significantly improve profitability, backed by overwhelming cost competitiveness and supply stability," a company spokesperson said, adding that Celltrion aims to become a global top-tier company spanning biosimilars, novel drugs and contract manufacturing. On the drug product (DP) side, Celltrion said a new DP facility at Songdo — already more than 70 percent complete — is on track to begin commercial production next year, with annual capacity of 6.5 million liquid vials. A second DP plant is planned for the Yesan industrial complex in South Chungcheong Province, with design work set to begin this year. Once all domestic and overseas expansions are complete, Celltrion said it expects to internalize 100 percent of its DS production needs and about 90 percent of global DP requirements, significantly reducing reliance on external contract manufacturers. The company added that it would actively consider securing additional production facilities if market conditions or pipeline progress warrant further expansion. 2026-03-24 10:03:12

Survey: 7 in 10 South Korean fintech firms operate without e-finance registration South Korea’s payment gateway (PG) industry is expanding rapidly, but about seven in 10 fintech companies are operating without registering as an electronic financial business, a new survey found. Despite tighter oversight of PG operators, many firms still take part in payment functions outside the regulatory system, raising concerns about blind spots in supervision. According to the Korea Fintech Industry Association’s “2025 Fintech Industry Survey,” released Monday, only 32% of 322 surveyed fintech companies were registered as electronic financial businesses. Another 64.3% were operating without registration, and 3.7% said they were considering registering. The association said this was the first time results of a full survey on fintech firms’ registration status had been made public. The survey covered a wide range of fintech fields — including payments, wealth management, insurtech and IT and solution providers — so the unregistered share does not necessarily equal the unregistered share among firms that are required to register. Under the Electronic Financial Transactions Act, businesses that provide services such as simple payments, prepaid top-ups and settlement must register with financial authorities. Operating without registration can be punished by up to three years in prison or a fine of up to 20 million won. Critics have said the law’s narrow definition of PG business leaves gaps, including for “dual-business” PG operators that run their main business — such as online marketplace brokerage — while also handling settlements as a side activity. Industry officials also argue that registration requirements — including capital, staffing and security systems — can be a high barrier for early-stage startups. Some companies say they only provide technology and do not directly control the flow of funds, and therefore interpret themselves as not subject to registration. Registration rates varied sharply by industry. Financial-sector firms, which have traditionally provided financial functions, showed a 59.2% registration rate. By contrast, information and communications firms and software/IT firms posted rates of 13.9% and 20.5%, respectively. The report attributed this in part to IT-based companies defining their services as “technology services” while in practice performing PG-like functions such as accepting payments or handling settlements without registering. The report warned that as platform-based payment ecosystems expand, more businesses are becoming involved in payment and settlement processes while remaining outside the scope of electronic financial business registration, increasing the risk of consumer harm. On some online platforms, consumers may feel they are paying through the platform itself, but settlements are often handled by a separate PG firm or financial institution. When payment delays or refund disputes arise, users may struggle to identify who is responsible, delaying relief, the report said. The report also found growth in “PG-like” firms that remain outside regulation, particularly among electronic financial support providers — which assist financial institutions with IT systems, data processing, security and authentication — and among “third-tier PG firms.” It defined third-tier PG firms as reseller or agency-type businesses that re-sell services based on contracts with second-tier PG firms. A fintech industry official said that when businesses in the regulatory gray zone cause incidents, the fallout can spread across the entire industry. The official called for steps to improve transparency, including tightening rules to bring gray-zone operators into the system or blocking unqualified firms from entering the market. 2026-03-24 10:03:07

North Korea calls South Korea 'most hostile' SEOUL, March 24 (AJP) - North Korea called South Korea the "most hostile” country, vowing to maintain the country's status as a nuclear weapons state, state media reported on Tuesday. During a speech outlining policy priorities at the country's Supreme People's Assembly in Pyongyang the previous day, its leader Kim Jong-un said the country's nuclear status is irreversible and warned that any attempt by what he called "hostile forces" to infringe on its sovereignty would be met "with merciless consequence," according to the state-run Korean Central News Agency. Kim accused the U.S. and its allies of acts of terrorism and aggression around the world, which appears to refer to the ouster of Venezuelan President Nicolás Maduro in January and the ongoing war in Iran, though he did not directly criticize U.S. President Donald Trump. He added that whether adversaries choose confrontation or peaceful coexistence is "their choice," and that North Korea is ready to respond to either option. Meanwhile, it remains uncertain whether the North has amended its constitution to define the South as an officially "hostile" state, as Kim Jong-un declared in late 2023, when he said he no longer considered the South a partner for reconciliation and officially abandoned the long-standing goal of reunification between the two Koreas. Lim Eul-chul, a professor at Kyungnam University, said North Korea did not disclose specific details even if it revised the constitution, adding that the move is meant to "keep its strategic ambiguity" and maintain flexibility to change its stance or approaches if necessary. Lim added, "Kim's latest comments reflect that North Korea would never give up its nuclear weapons, even if the U.S. offers 'economic support' or 'security guarantees.'" 2026-03-24 10:00:27

Korea Creative Content Agency holds K-documentary screenings in New York The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency’s New York Business Center said March 24 they have wrapped up a two-day documentary screening event in New York aimed at helping KOCCA-backed projects expand overseas. The event, titled “KOCCA Spotlight,” was held in the screening room on the basement level of the New York Korea Center. Two documentaries produced with KOCCA support — “Goddess Era” and “The Philosopher’s Cuisine” — were shown. The free screenings were offered by advance reservation and drew about 300 attendees, including local content industry professionals and members of the public. “KOCCA Spotlight” is a New York Business Center program that selects KOCCA-supported works considered to have strong potential for the North American market and introduces them in New York. On March 19, the program screened “Goddess Era,” produced by Jenny Film. The documentary was selected for KOCCA’s 2023 documentary production support and was planned and directed by Moon Seung-wook and Yoo Ye-jin. It won a Silver Award in the feature-length documentary category at the 57th WorldFest-Houston International Film Festival in 2024. The film follows a journey to trace goddess myths passed down through Korea’s nature and traditions, highlighting independent, self-directed women’s leadership and community values. On March 20, the program screened “The Philosopher’s Cuisine,” produced by ELTV. The documentary was selected for KOCCA’s 2024 documentary production support and portrays the daily life and philosophy of Buddhist temple cuisine master Jeong Kwan, who has drawn global attention. The film explores philosophical imagination about cooking and the meaning of practice, while examining the cultural value and depth of Korean temple food. In post-screening audience surveys, attendees said it was a rare chance to see Korea’s goddess culture on screen and described the program as time to appreciate Korean Buddhist culture alongside Jeong Kwan’s food. They also expressed hope that screenings of Korean video content would continue. Lee Yang-hwan, head of KOCCA’s New York Business Center, said, “We will work to ensure that Korean documentary producers and works — which continue the tradition of making strong documentaries under difficult conditions — can draw interest in the United States and find business opportunities.”* This article has been translated by AI. 2026-03-24 09:06:19

Hana Bank Launches AI Pension Investment Service in Mobile App Hana Bank is rolling out a service that uses artificial intelligence to help manage pension assets from contributions through withdrawals. The bank said Tuesday it will offer an integrated “AI Pension Investment Solution” service through its mobile app, New Hana 1Q. The service uses AI to assess a customer’s investment profile and existing assets and recommend an optimal portfolio. It was developed through joint research with Hana Financial Group’s dedicated AI organization, the Hana Financial Convergence Technology Institute. For defined-contribution (DC) and individual retirement pension (IRP) customers in the accumulation phase, the tool proposes a portfolio centered on five asset classes — including stocks, bonds and alternative assets — based on the customer’s retirement timing and target assets. For IRP customers age 55 and older in the withdrawal phase, it analyzes the pension payout cycle and amount and supports an operating strategy built around six asset classes, including funds, exchange-traded funds (ETFs) and deposits. The withdrawal tool can generate more than 1,000 portfolio combinations and provides a daily list of candidate investment products reflecting changes in market conditions. “Pension assets have been expanded into an investment solution that reflects life stages and management goals,” said Cho Young-sun, deputy head of Hana Bank’s retirement pension group. “We will continue to introduce innovative services by proactively identifying customers’ pension management needs.”* This article has been translated by AI. 2026-03-24 08:58:27

BTS’ Netflix Live “Arirang” Tops Charts in 77 Countries, FlixPatrol Says BTS’ comeback concert broadcast live on Netflix has surged to the top of the platform’s rankings worldwide, according to FlixPatrol. FlixPatrol, a site that tracks streaming rankings, said on March 23 that “BTS THE COMEBACK LIVE | ARIRANG” ranked No. 1 globally in Netflix’s movie category based on the previous day’s results. The performance ranked No. 1 in 77 countries, including South Korea, the United States, Japan and the United Kingdom. It placed No. 2 in 14 countries including the Bahamas, the Czech Republic and Ireland, and No. 3 in New Zealand, landing in the top three in every country tracked. FlixPatrol calculates rankings by converting Netflix’s country-by-country “Top 10” lists into scores. BTS held “BTS THE COMEBACK LIVE | ARIRANG” on March 21 at Gwanghwamun Square in Seoul. The group debuted new songs onstage, including “Swim,” the title track from its fifth full-length album, “ARIRANG.” The concert also drew attention as Netflix’s first live event presented in South Korea. The livestream was carried in real time to more than 190 countries. BTS is expected to continue promotions for its fifth full-length album.* This article has been translated by AI. 2026-03-24 08:57:14