Middle East Crisis: Seoul stocks and currency open 2% lower on fuel jitters SEOUL, March 3 (AJP) — South Korean markets, returning from a long weekend, opened sharply lower Tuesday as investors moved to price in rapidly escalating tensions in the Middle East following U.S.-Israeli strikes on Iran and the growing risk of prolonged disruption to energy supplies. The benchmark KOSPI fell 2.60 percent at the open to 6,081.92, while the tech-heavy KOSDAQ dropped 2.57 percent to 1,162.17. The disruption of the Strait of Hormuz — which handles roughly 20 percent of global seaborne oil shipments — has reignited supply concerns across global energy markets. For Asia’s import-dependent economies, the chokepoint represents a critical vulnerability. Although OPEC+ — including Saudi Arabia, the United Arab Emirates and Russia — agreed to increase output by 206,000 barrels per day starting next month, the planned hike amounts to just 0.2 percent of the roughly 100 million barrels produced globally each day, limiting its capacity to offset potential supply losses should the conflict widen. Oil prices remained volatile. Brent crude for May delivery traded at $77.74 per barrel as of 12:55 a.m. BST, little changed from the previous session. U.S. West Texas Intermediate for April delivery stood at $70.82 per barrel as of 6:56 p.m. EST, down $0.40, or 0.56 percent. Still, traders are increasingly pricing in geopolitical risk premiums. Escalating uncertainty surrounding Iran has fueled speculation that crude could surge above $100 per barrel — a level that would amplify inflationary pressure and weigh on global growth. Seoul sought to calm markets. The government said Sunday that South Korea holds sufficient crude oil and LNG stockpiles to last 208 days, pledging close monitoring of financial and energy markets. U.S. President Donald Trump said the war could last “four weeks,” as Iran launched retaliatory strikes across the region in what analysts describe as the most serious security challenge in the Persian Gulf in decades. The Korean won weakened sharply, falling about 2.5 percent from its Feb. 26 high, reflecting a broader risk-off shift across emerging Asian currencies. 2026-03-03 09:28:19

Hyundai Glovis to Showcase Physical AI Logistics Automation at AW 2026 Hyundai Glovis said Tuesday it will take part in the 2026 Smart Factory and Automation Industry Expo (AW 2026) to showcase its logistics automation capabilities based on physical artificial intelligence. AW 2026, which opens Wednesday at COEX in Seoul’s Gangnam district, is the country’s largest smart factory and automation industry exhibition. Hyundai Glovis will set up a booth in the event’s smart logistics pavilion and present an automated logistics environment that links the full process from inbound receiving and storage to sorting and picking, and outbound shipping. The company will also unveil a pallet shuttle system, equipment in which pallets fitted with transport robots move along fixed rails to manage inbound and outbound handling. The pallet shuttle is controlled through “Orca,” a warehouse control system (WCS) platform co-developed with its subsidiary Altiol. Hyundai Glovis will demonstrate item transfers using autonomous mobile robots (AMRs) and robot picking at the show. The booth will also display, for the first time to the general public in South Korea, a non-operational model of Boston Dynamics’ humanoid robot Atlas. Atlas has been undergoing a proof-of-concept project for parts sequencing at a Hyundai Glovis site within Meta Plant America (HMGMA) since last year. Starting in 2028, Hyundai Glovis plans to deploy it first in processes at HMGMA where safety and quality benefits have been clearly verified, including sequencing work for parts classification. Hyundai Glovis said it plans to pursue business expansion by highlighting the physical AI-based logistics automation capabilities presented at the exhibition. A Hyundai Glovis official said the company will focus on early-stage research and strengthening its logistics automation competitiveness to respond quickly to rapid changes in the logistics environment driven by advanced technologies such as physical AI.* This article has been translated by AI. 2026-03-03 09:25:44

Audi Korea Names Lee Gyu-hee as Head of Marketing Communications Audi Korea said Tuesday it has appointed Lee Gyu-hee, an executive director, as its new head of marketing communications. Starting Tuesday, Lee will oversee the company’s overall marketing, including brand strategy, marketing communications, digital and content strategy, and customer experience, Audi Korea said. Audi Korea described Lee as a brand strategy specialist with broad experience across global automotive and performance brands. At Volkswagen Group China, he held key leadership roles including brand management director, marketing director and head of the Brand Innovation Project House, leading initiatives such as brand innovation, market repositioning and building a data-driven marketing system. He also served as marketing and communications director for Asia-Pacific and the Middle East at French high-performance sports car brand Alpine, overseeing marketing strategy in key markets. Lee has also worked in global creative agencies and strategic consulting, and is credited with leading large-scale innovation projects across sectors including automotive, luxury goods and electronics, the company said. Audi Korea is seeking to strengthen its position in the domestic market this year by expanding new model launches and refreshing the brand. The appointment reflects its push to reinforce its premium positioning, upgrade digital marketing capabilities and deliver more customer-centered brand experiences, it said. Audi Korea President Steve Clotty said Lee’s global perspective and strategic expertise will play an important role in taking the Audi brand “to the next level.” He said the company will strengthen touchpoints with customers in South Korea and further solidify Audi’s premium value.* This article has been translated by AI. 2026-03-03 09:18:19

Trump 'won't rule out deploying US ground troops to Iran' SEOUL, March 3 (AJP) - The U.S. would not rule out sending ground troops into Iran "if they were necessary," U.S. President Donald Trump hinted amid an escalation of hostilities across the Middle East. In an interview with the New York Post on Monday, a day after the U.S.-led military action against Tehran dubbed "Operation Epic Fury," Trump said, "I don't have the yips with respect to boots on the ground — like every president says, 'There will be no boots on the ground.' I don't say it." He added, "I say 'probably don't need them,' ensures our enemies understand we'll go as far as we need to go to advance American interests. But we're not dumb about it," Hegseth told reporters. "You don't have to roll 200,000 people in there and stay for 20 years." "We expect to take additional losses, and as always, we will work to minimize U.S. losses," he added. The confrontations, which began with a surprise joint airstrike by the U.S. and Israel last Saturday that killed Iran's Supreme Leader Ayatollah Ali Khamenei, have expanded into a broader conflict involving countries across the Gulf region. Now in its third day, intense violence continues as Iranian forces retaliate with drone and missile attacks on targets across Israel, U.S. bases and Gulf states. Many analysts assess that the operation could last four to five weeks or longer, depending on developments on the ground. But Trump said, "Right from the beginning, we projected four to five weeks, but we have capability to go far longer than that," adding, "So we're ahead of schedule there by a lot." Meanwhile, six U.S. service members have been killed since the operation against Iran began, according to U.S. Central Command (CENTCOM). "As of , six U.S. service members have been killed in action. U.S. forces recently recovered the remains of two previously unaccounted for service members from a facility that was struck during Iran's initial attacks in the region. Major combat operations continue. The identities of the fallen are being withheld until 24 hours after next of kin notification," CENTCOM said. 2026-03-03 09:16:17

Actress Ji So-yeon Apologizes for Posting Japan Trip Video Ahead of March 1 Holiday Actress Ji So-yeon has apologized after drawing criticism for uploading a Japan travel video to her personal YouTube channel a day before the March 1 holiday. On March 2, Ji wrote on social media that she was taking “the many opinions” about the Japan trip video posted in late February “very seriously.” She said the video documented a trip taken on Feb. 11, but added, “It was entirely my fault that I did not think deeply enough about the meaning of the timing of the post.” Ji also said she felt heavy-hearted that criticism had extended to Yang Mira, who traveled with her, stressing that the upload schedule and the decision to make it public were “entirely my decision.” She added that the incident made her realize she must act with greater caution and responsibility, and said she would more carefully consider social context and timing in planning and releasing future content. Ji uploaded the video on Feb. 28 under the title, “Starting today, I’m a free woman!! (Japan trip with Yang Mira).” It shows the two traveling in Takamatsu, Japan. Some online commenters criticized the post as inappropriate ahead of the March 1 holiday.* This article has been translated by AI. 2026-03-03 09:15:15

Seoul claims fuel stock enough to last more than 6 months SEOUL, March 03 (AJP) -South Korea moved to calm markets, saying it holds enough crude oil and petroleum products to last at least 208 days, as spiraling fighting in the Middle East escalated into a direct threat to global energy flows and tanker traffic through the Strait of Hormuz, a chokepoint responsible for around 70 percent of fuel imports for Asia's fourth-largest economy. With Iran declaring restrictions in the strategic waterway following U.S.-Israeli strikes and retaliatory drone and missile attacks across the Gulf, Seoul said it is maintaining an emergency posture across energy, finance and security — but stressed there is “no need for excessive concern.” The government said crude oil and petroleum product reserves stand at levels sufficient for more than six months, even if supply disruptions are prolonged. “Oil and petroleum products are stockpiled for 208 days. We are fully prepared even for a long-term disruption,” Vice Industry Minister Moon Shin-hak told reporters after a ministerial meeting on Middle East developments on Sunday. Liquefied natural gas (LNG) exposure is also seen as manageable. Qatar accounts for a portion of Korea’s LNG imports, but the Middle East share in Korea’s total LNG mix has fallen to around 20 percent. With spring approaching and seasonal gas demand easing, authorities said supply risks remain contained even if the situation drags on. The reassurance comes as shipping through the Strait of Hormuz — a chokepoint that handles roughly a fifth of global oil consumption and about 70 percent of Korea’s crude imports — has slowed sharply amid Iranian warnings to commercial vessels. Data providers reported hundreds of tankers anchored outside the strait, unable to transit. Brent crude surged more than 6 percent in Monday trading, briefly approaching $80 a barrel, while European gas prices spiked nearly 40 percent after Qatar halted LNG output at a major facility following intercepted drone threats. Analysts warn that a sustained disruption to Hormuz traffic could push oil above $100 a barrel, reigniting global inflation pressures. Wi Sung-rak, head of the presidential National Security Office, said the government remains in full emergency-response mode following the reported death of Iran’s Supreme Leader Ayatollah Seyyed Ali Khamenei and the widening regional strikes. “As the president has said, there is no need for excessive concern,” Wi told reporters in Singapore, where the president stopped for a state visit. “We are thoroughly prepared in the real economy, financial markets and military security.” The presidential office said it is operating an emergency system, with daily reviews chaired by the prime minister and cross-ministerial monitoring of energy supply, logistics and financial markets. All senior staff reported to work during the alternative holiday to assess developments, prioritizing the safety of South Korean nationals in the region. Officials declined to predict oil-price trajectories or the conflict’s duration, saying contingency measures would be adjusted after “sufficient observation.” Vice Finance Minister Lee Hyeong-il said Asian currencies weakened amid a broader flight to safety, while stock markets showed mixed performance. Safe-haven currencies such as the U.S. dollar and Swiss franc strengthened. Japan’s Nikkei index fell, Australia’s market was little changed and China’s Shanghai Composite edged higher, reflecting uneven investor sentiment. In the United States, equities initially fell but later pared losses, while Treasury yields rose on concerns that higher oil prices could rekindle inflation. The 10-year yield climbed above 4 percent. Lee said a joint emergency task force will monitor domestic financial markets and the real economy around the clock. “If abnormal signs emerge, we will respond swiftly in close coordination with relevant agencies,” he said, adding that the scale of impact will hinge on how long the conflict persists. The government has advised domestic carriers to avoid Middle Eastern waters and urged vessels entering the Strait of Hormuz to wait and take enhanced safety measures. As of Monday, no South Korean-flagged vessels were transiting the strait, officials said. One tanker that had been inside the waterway exited safely a day earlier. HMM, South Korea’s largest container carrier, said its 16,000-TEU vessel HMM Daon is currently docked at Jebel Ali Port in Dubai — the Middle East’s largest port and a key logistics hub linking Asia, Africa and Europe. The company said the vessel is not in a designated high-risk zone and is conducting routine port operations. It is monitoring the situation and will decide whether to relocate to a safer area depending on further developments. Of roughly 20 HMM container ships and tankers operating on Middle East routes, industry officials expect possible rerouting or schedule adjustments if instability persists. The conflict’s expansion to energy infrastructure — including reported drone strikes near Saudi Arabia’s Ras Tanura oil complex and threats to Qatari LNG facilities — has raised the stakes for global supply chains. Saudi Arabia, which exports more than 6 million barrels a day from Ras Tanura alone, is central to global market stability. Any sustained damage to its export capacity would weaken a critical buffer against price spikes. For South Korea, which recently saw the KOSPI break above the 6,000 milestone on strong semiconductor-driven gains, a prolonged oil shock could cloud the outlook. Economists warn that every sustained $10 rise in oil prices can shave 0.1 to 0.2 percentage point off global growth over 12 months. A move toward $100 oil could complicate monetary easing plans worldwide and strengthen the dollar further, adding pressure to emerging-market currencies. 2026-03-03 08:36:19

BTS’ Jung Kook’s ‘Please Don’t Change’ Tops Worldwide iTunes Song Chart BTS member Jung Kook’s solo track “Please Don’t Change” is gaining traction on global music charts. The song, from his solo album “GOLDEN,” ranked No. 1 on the Worldwide iTunes Song Chart dated Feb. 28. Released in November 2023, it has climbed back up the charts about two years later, holding the top spot for three straight days through the 27th and 28th. On the European iTunes Song Chart, it was No. 1 on the 26th and 27th and No. 2 on the 28th. On Spotify, the track has surpassed 219 million streams. Jung Kook’s cumulative streams stand at 6.79 billion, nearing 6.8 billion. 2026-03-03 08:33:16

Lee Sang-min Recalls Past Plagiarism Uproar Over R.ef’s Song Broadcaster Lee Sang-min, a member of the co-ed group R.ef, has recounted an incident tied to a past uproar over alleged song plagiarism. In a video posted March 2 on the YouTube channel “Jjanhanhyeong Shin Dong-yup,” titled “Can this even air? Tak Jae-hoon, Lee Sang-min, Kim Jun-ho,” Lee addressed reports that he caused a commotion after R.ef’s third-album title track “Cheonsang Yuae” was accused of plagiarism. “I got angry and hit glass, and I was slightly hurt,” Lee said, adding that he learned then that “everything has to be fact-checked.” The song, released in 1995, was previously swept up in controversy over claims it plagiarized “Omasuri Ninja” by the Japanese six-member group Ninja. Lee has also said in the past that there were separate composers for “Cheonsang Yuae,” but that he still felt guilty for singing it. Tak Jae-hoon, reacting to Lee’s account, said he “ran to the hospital crying” and told him, “Even I’m living with just 1,000 won, so why would you die?” He added that when the bandage came off, “a scab had already formed,” suggesting the injury was not serious. Lee said he had pushed the members to practice and finished recording because he liked the song so much, but the plagiarism dispute erupted before promotions even began. “I was shocked, too,” he said. “There was a singer who sang the exact same song I sang. If it had been a remake, nothing would have happened, but it really hurt my pride.” Lee again stressed that he was not suicidal at the time, saying, “I didn’t want to die.” 2026-03-03 08:24:28

Hwang Bo-ra Says She Often Sees Cha Jeong-won, Suggests Ha Jung-woo Made the First Move Hwang Bo-ra said she often meets with Cha Jeong-won. On the March 2 broadcast of TV Chosun's "Joseon's Lovebirds," actor Kim Yong-geon was shown visiting Hwang's home. When host Kim Guk-jin asked whether she had met Cha, Hwang replied, "We've known each other for a long time, so we see each other often." Hwang said the two appeared to have met by chance. She added that Cha greeted her with, "Hello, senior," and that it seemed they met again in a private setting. Asked who felt the attraction first, Hwang said, "In the end, doesn't it work only when the man likes her more?"* This article has been translated by AI. 2026-03-03 08:12:23

Drugmakers in South Korea Expand Into Senior Care, Eye Long-Term Growth but Face Profit Hurdles Pharmaceutical and biotech companies are accelerating expansion into senior health care, positioning it as a new growth engine as South Korea enters a super-aged society. With medical and caregiving demand expected to rise structurally, companies are moving into the “silver market,” where they can apply core capabilities while seeking long-term revenue with relatively lighter regulatory burdens. According to the Korea Insurance Research Institute on the 2nd, the number of older people needing care — including those with dementia and seniors living alone — is steadily increasing. By 2030, it projects that 16.5% to 26.3% of older adults will need elder-care services. Companies are responding by combining real estate development capacity with differentiated models such as health functional foods and digital technology. Among early movers is Chong Kun Dang. Chong Kun Dang Industry, a property asset management company under Chong Kun Dang Holdings, has expanded its footprint by acquiring nursing-care facilities. It operates “Bellforest” and “Heritage Nursing Home,” offering premium services. Heritage Nursing Home has a system designed to respond immediately in emergencies by linking with major hospitals. “Pharmaceutical companies already have networks among older adults and chronic-disease data, so combining that with the care industry creates strong synergy,” an industry source said. Still, concerns remain that care businesses may not deliver the profitability companies expect, largely because labor costs dominate spending. Nursing facilities must use 62.5% of government reimbursement payments for labor, and when indirect labor costs are included, staffing can account for about 70% to 80% of total expenditures. The burden can grow as facilities scale and it becomes harder to meet required ratios. “Separating the business into a separate corporation may limit financial risk, but operating nursing facilities requires distinct capabilities because it involves managing the overall brand image,” another industry official said. Kim Dae-jong, a professor in the School of Business at Sejong University, said, “Korea has the second-largest elderly population after Japan, and the silver industry is structurally bound to grow over the long term,” adding, “Any company will face limits to growth with its core business alone.” Overseas, pharmaceutical companies’ expansion into senior care is already seen as a proven model as aging becomes a business opportunity. Recently, Asian companies have focused on mental health and elder nursing. Japan’s Eisai, judging that “medicine alone cannot solve the dementia problem,” launched its subsidiary Theoria Technologies in 2023 and entered the dementia management platform business. China’s major drugmaker Sinopharm operates an integrated senior-care system built around combined medical and nursing-care hubs, expanding services on a “whole life-cycle” basis. The offering includes rehabilitation care, chronic-disease management and professional nursing services, in addition to supplying medicines. In South Korea, drugmakers are pursuing strategies aligned with their strengths. Daewoong Pharmaceutical formed a dedicated digital health care organization and unveiled its integrated artificial intelligence platform, “All New Think.” With more older adults needing ongoing management and more than 90% of domestic hospital beds lacking real-time monitoring systems, analysts see room for growth. However, as the market is still in an early stage, issues such as integrating AI technology and the contribution to sales remain to be assessed. Senior nutrition is also emerging as a new expansion track. Hanmi Science introduced “Hanmi Care Me,” a premium complete balanced nutrition product aimed at addressing nutritional imbalance among older adults. For seniors who struggle to consume adequate nutrients due to reduced activity and smaller meals, the message that it is “nutrition designed by a pharmaceutical company” can boost trust in purchasing. “Because the senior market is driven by trust-based consumption, pharmaceutical brands have an advantage,” an industry source said, while noting that the food industry already holds high market share and companies must also weigh the cost of building distribution and marketing infrastructure. Some also see longer-term benefits in understanding seniors’ needs and data. Sung Hye-jin, deputy director at the Pharmaceutical Industry Strategy Institute, said, “The senior market has a trust-based consumption tendency that fits well with pharmaceutical companies,” adding, “With the market still in its early stage, now is the time to enter, and there will be opportunities to lead across diverse fields.”* This article has been translated by AI. 2026-03-03 06:05:26