S.Korea says U.S. cleared sanctions risk on Russian naphtha imports amid Middle East supply crunch SEOUL, March 25 (AJP) - South Korea said it had secured confirmation from the U.S. Treasury Department that domestic companies face no secondary sanctions risk when purchasing Russian crude oil and petroleum products using non-dollar currencies, clearing a major hurdle to alternative supplies as the Strait of Hormuz blockade tightens its grip on energy flows. Yang Ki-wook, the Ministry of Trade, Industry and Resources director-general of industrial resource security, said at a government briefing that Washington had confirmed payments in Chinese yuan, Russian rubles and UAE dirhams would not trigger secondary sanctions on South Korean buyers. The ministry said it had relayed the confirmation to domestic firms and would continue to coordinate with companies on any further difficulties. "Naphtha appears to have a relatively higher likelihood of being imported compared to crude oil," Yang said, noting that crude purchases face additional hurdles including quality verification and the need to complete transactions within tight deadlines. The announcement comes as Asia's fourth-largest economy scrambles to shore up energy supplies after Iran's blockade of the Strait of Hormuz — through which about 99 percent of South Korea's Middle Eastern crude imports pass — severely disrupted global oil flows. Yang also addressed QatarEnergy's force majeure declaration on long-term liquefied natural gas supply contracts with South Korea, China, Italy and Belgium, triggered by Iranian missile strikes that damaged two of Qatar's 14 LNG production trains at the Ras Laffan industrial complex. He said Seoul had not yet received formal notification from QatarEnergy but noted the government had already excluded Qatari volumes from this year's supply calculations in anticipation of such a move. Yang said further consultations between Korea Gas Corporation and QatarEnergy would be needed to assess the long-term contractual impact, but emphasized that supplies through year-end had already been secured through alternative sources. The ripple effects of the prolonged conflict are now reaching everyday consumer goods, with paint prices surging more than 40 percent and supply chain disruptions hitting items ranging from engine oil to garbage bags. Yang said the government was monitoring the situation down to what he described as the "capillary level," prioritizing items by urgency and prepared to impose export curbs or supply adjustment orders if necessary to stabilize the domestic market. Gas prices, meanwhile, are expected to face upward pressure in the second half of the year as the market shifts from a buyer-driven to a seller-driven environment, the ministry said, adding it was consulting with the Ministry of Climate, Energy and Environment and related agencies to minimize the burden on households. 2026-03-25 14:31:15

Hana Bank, Knight Frank Korea to Expand Advisory Services for Ultra-High-Net-Worth Clients Hana Bank said Tuesday it signed a business agreement with global real estate consultancy Knight Frank Korea to expand financial advisory services for family office clients. Knight Frank is a real estate consulting firm with more than 125 years of experience and publishes an annual “Wealth Report” analyzing investment trends among wealthy individuals. At a signing ceremony at Knight Frank Korea’s headquarters in Seoul’s Euljiro area, the two sides agreed to provide an integrated wealth management solution spanning real estate, finance, legal and tax services, and investment banking, as demand from ultra-high-net-worth clients becomes more complex. The partners said they will cooperate on financial care through Hana Bank’s specialized branches, including Club1; family office services such as inheritance and gifting, real estate investment advice and business succession; and nonfinancial offerings tied to culture, art and health. They also plan to develop differentiated wealth management services with other Hana Financial Group affiliates, including investment strategy lectures led by analysts at Hana Securities and issuance of premium membership cards linked with Hana Card. “Through cooperation with Knight Frank, an authoritative name in the global real estate market, we will be able to provide higher-level financial consulting, including real estate investment advice,” Kim Mi-sook, executive vice president of Hana Bank’s Central Sales Group, said. She added that the bank will continue expanding specialized financial and nonfinancial services to “maximize customer value.”* This article has been translated by AI. 2026-03-25 14:27:00

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