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

BTS’ ‘ARIRANG’ Tops 4 Million Sales in Three Days, Hanteo Says BTS’ new release “ARIRANG” is extending its strong run in the market. Hanteo Chart said on the 25th that the album sold more than 4 million copies in three days, taking the No. 1 spot on its weekly chart. On the first day alone, it sold 3.98 million copies to top the daily chart. The sales figure is being read as more than a measure of popularity. If the group’s comeback performance in Gwanghwamun created a widely shared “return” moment, the 4 million mark shows how strongly that moment translated into purchases. Fans are not only buying music, but also a narrative that combines reunion and return, a symbolic venue and global broadcasting. For BTS, the new album functions both as a collection of new songs and as a tangible marker of a story reconnected after a long break. The result also underscores that physical albums remain a powerful industry indicator in K-pop, even as streaming dominates listening. While fewer people use physical albums to play music, South Korea’s physical album sales hit a peak of 116 million copies in 2023. The market has been driven by collectible consumption, including photo cards, multiple package versions and fan-meeting entry promotions. Against that backdrop, “ARIRANG” stands out, the article said, because it shows BTS can move both a global fan base and the domestic album market at the same time. The first-day total of 3.98 million and the three-day milestone of more than 4 million indicate that comeback attention was converted into purchases, as performance symbolism, fan emotion and K-pop’s collectible model aligned once again. * This article has been translated by AI. 2026-03-25 09:45:20

South Korean drug kingpin extradited from Philippines to face probe in Seoul SEOUL, March 25 (AJP) - A South Korean detained in the Philippines was extradited to South Korea on Wednesday to face an investigation into alleged drug trafficking. In a written press briefing, presidential spokesperson Kang Yu-jung said Park Wang-yeol, a notorious drug kingpin known by his alias "Jeonsegye" in Korean, which literally means "worldwide," was extradited from the Philippines early Wednesday morning after nearly a decade of efforts to bring him back to face criminal charges. She added that it demonstrates the government's "strong will that even criminals hiding overseas will pay the price." His extradition comes after President Lee Jae Myung's visit to Manila earlier this month, during which he asked Philippine President Ferdinand Marcos Jr. to cooperate in combating transnational crimes. Park was extradited under a bilateral treaty as part of a temporary handover, which allows a suspect to be provisionally transferred for criminal proceedings in South Korea while trial or sentence enforcement in the Philippines is suspended. The 48-year-old was a key figure in an infamous case involving serial killers who used plantations to conceal victims, in which three South Koreans were killed. He was arrested by Philippine authorities in October 2022, sentenced to 60 years in prison, and had been held there. Even while in prison, he continued his crimes, drawing scrutiny after being caught distributing large quantities of drugs into South Korea via Telegram and other social media platforms. Kang said the government will "uncover his every criminal act to the end" while tracking down accomplices and punishing them strictly. She added that the government would respond to transnational crime with "zero tolerance" and strengthen international cooperation to ensure that criminals have nowhere to hide. 2026-03-25 09:33:55

Comedian Park Mi-seon Says She’s Studying for Insurance License Exam South Korean entertainer Park Mi-seon said she is preparing for a certification exam. On March 24, Park posted a photo on social media with a message urging students to study early. “There’s a time for studying, too. If any students are seeing this, study while you’re even a year younger,” she wrote. She added, “Does the brain age, too? I can’t memorize anything. This is driving me crazy.” Asked by a fan what test she was taking, Park replied, “An insurance exam.” When another fan asked whether she was getting the license to film life and property insurance commercials, she responded, “Correct.” Under current rules, an advertising model must hold an insurance planner’s qualification to directly explain detailed information about insurance products in a video. In November last year, Park appeared on the tvN variety show “You Quiz on the Block” and said breast cancer was found during a comprehensive health screening. She said that when doctors opened her up for surgery, they found it had spread to the lymph nodes. “If it spreads, chemotherapy is essential, so I had radiation treatment 16 times, and I’m currently on medication,” she said.* This article has been translated by AI. 2026-03-25 09:30:05

CJ CheilJedang builds food industry's first automated frozen kimbap line to chase global demand SEOUL, March 25 (AJP) - CJ CheilJedang has constructed the food industry's first automated frozen gimbap production facility at its CJ Blossom Campus in Jincheon, North Chungcheong Province, as the South Korean food giant moves to scale up its global kimbap business. The fully automated line handles every stage of production — from filling and rolling to cutting and tray packaging — and took about 18 months to develop, according to CJ on Wednesday. The company said the system reduces weight variation between products, raises output speed, and meets stringent international hygiene standards through a redesigned process layout. Quality improvements were also built into the line. CJ CheilJedang applied its frozen-rice cooking expertise to optimize the texture and sheen of each product's rice, while ingredient-specific heat treatment settings were calibrated to preserve the color and bite of individual fillings. Flash-freezing technology ensures quality holds through distribution and storage. The investment backs the company's Bibigo frozen gimbap line, which launched in 2023 as part of its broader K-food export push. The products have logged cumulative global sales of over 8 million units, with annual revenue growing at about 130 percent on average. CJ CheilJedang said it plans to use the Jincheon facility as a springboard for further export growth, with a focus on the U.S., Europe, and Australia. The company also intends to expand its U.S. grocery store presence in the second half of this year. "This goes beyond simply securing capacity — it is a strategic investment to accelerate the expansion of K-food's global footprint," a spokesperson said, adding that the firm aims to build Bibigo gimbap into a defining brand of Korean cuisine worldwide. 2026-03-25 09:15:48

Public Golf Course Visits in South Korea Fell 4.2% in 2025; Green Fees Also Down The Korea Public Golf Course Association said average visits to public golf courses in 2025 fell 4.2% from 2024. In data released March 25, the association said the average number of visitors per 18-hole course was 85,642 in 2025, down from 89,376 in 2024. It said attendance has declined each year since 2022. Green fees also fell. In the Seoul metropolitan area, the average weekday fee was 146,000 won, down 8.2% from 159,000 won in 2024. The average weekend fee was 188,000 won, down 8.7% from a year earlier. Outside the metropolitan area, average fees were estimated to have dropped about 1% to 2%. The association said it held its 2026 regular board meeting and general assembly March 24 at Olympic Parktel in Songpa-gu, Seoul. It reviewed and approved its 2025 business results and financial statements and a proposed 2026 budget totaling about 1.696 billion won. At the general assembly, the association also reported its efforts to seek changes to laws and systems affecting the golf industry. It cited proposals to revise what it called unreasonable rules in standard contract terms related to deposits and cancellation fees; to exclude self-employed caddies from coverage under the national pension and health insurance; and to introduce systems reflecting industry conditions in connection with the “Basic Act for Working People” bill and the “worker presumption system.” The association said it supports member companies by providing statistical analysis and publishing a professional bulletin, “Public Golf Course Management Brief.” It said key initiatives this year include regularizing personnel and information exchanges with the Japan Golf Course Managers Association; supporting course management in response to abnormal weather through on-site diagnostics and soil and water-quality analysis; and expanding issuance of official certificates for special achievements such as holes-in-one. At the meeting, Hong Jae-won, CEO of Bellastone CC, and Kim Nam-il, president of the Gyeongsangbuk-do Culture and Tourism Organization, which operates Bomun GC and Andong Lake GC, received top awards for management innovation. Excellence awards went to Hwang Yong-hae, deputy general manager at Diamond CC; Son Hyun-kyung, deputy general manager at Solago CC; Lee Ji-min, assistant manager at Seven Valley CC; and Kang Min-su, an employee at West Ocean CC. Association Chairman Woo Jeong-seok said the golf industry’s business environment is changing faster than ever amid domestic and global economic conditions, shifting consumer trends, and new systems and regulations. He said the association will “push forward more strongly” its roles and responsibilities across various areas to improve conditions for public golf courses facing many challenges. * This article has been translated by AI. 2026-03-25 09:15:00

BTS live return takes world by storm, album tests "creative mettle"  SEOUL, March 25 (AJP) - The livestreamed BTS open-air stage performed before more than 100,000 people in Gwanghwamun for a comeback after a four-year hiatus drew 18.4 million viewers, according to Netflix, marking one of the largest synchronized global concert events to date as the group returned with its first studio album in six years Arirang,” described by The New York Times as “a raucous test of its creative mettle amid rapidly changing genre norms." The performance entered Netflix’s weekly Top 10 in 80 countries and ranked No. 1 in 24, with viewers across time zones tuning in simultaneously, turning the Seoul stage into a shared global broadcast. RM, Jin, SUGA, j-hope, Jimin, V and Jung Kook took the stage at “BTS THE COMEBACK LIVE | ARIRANG” in central Seoul before extending the momentum overseas and two days later headlined a second event at Pier 17 in New York. Held atop a rooftop venue overlooking the East River, the Pier 17 showcase gathered around 1,000 invited fans selected through Spotify streaming data — many already chanting lyrics and replicating choreography to songs released only days earlier. Online response scaled in parallel. The campaign generated more than 2.62 billion impressions across Netflix-owned channels, with related hashtags trending across the United States, South Korea and major markets in Asia, Europe and Latin America. The rollout highlights a shift in K-pop’s delivery model, combining large-scale physical concerts with streaming platforms and data-driven fan targeting to extend reach beyond geography. The music itself is drawing scrutiny alongside the scale. In a Critic’s Pick review, The New York Times described the album “Arirang” as “a raucous test of its creative mettle amid rapidly changing genre norms,” positioning the release as both a commercial milestone and an artistic checkpoint. The review notes the album’s maximalist structure and genre shifts, framing it as a project balancing experimentation with the demands of global success and the expectations surrounding BTS and its agency Hybe. Netflix is set to release a documentary, “BTS: THE RETURN,” offering a behind-the-scenes look at the reunion, album production and stage preparation, extending the narrative beyond the live performances. Ultimately, the comeback reflects both scale and uncertainty. As the New York Times review concludes, beneath the group’s vast commercial machinery may still lie “a work of odd and satisfying art” — suggesting BTS’ return is not only a global event, but also an open question about how far it can stretch creatively within its own success. 2026-03-25 09:11:47

South Korea Changes Korean Spelling of Mongolia’s Capital to ‘Ulaanbaatar’ The Ministry of Culture, Sports and Tourism and the National Institute of Korean Language said on the 25th they reviewed the Foreign Ministry’s request to change the Korean spelling of Mongolia’s capital and decided to revise it from “Ulaanbaatar” written as “Ulan Bator” in Korean to “Ulaanbaatar.” The capital’s name has long been written in Korean by convention as “Ulan Bator (Ulan Bator).” Officials said that form reflects a Russian-language spelling and differs from local Mongolian spelling and pronunciation, creating administrative inconvenience. To address confusion in the field, the ministry and the institute convened the “2026 First National Institute of Korean Language Committee on Foreign Proper Names” and decided the standard Korean rendering should follow “Ulaanbaatar (Ulaanbaatar).” A Foreign Ministry official said Mongolia had asked South Korea to change the spelling “in consideration of the close relationship between the two countries,” adding that public inquiries had continued because of the confusion. The official said the ministry welcomed the decision and expected it to contribute to “future-oriented” ties and to expanding friendly perceptions between the two peoples.* This article has been translated by AI. 2026-03-25 08:54:38

SK hynix files for US IPO listing SEOUL, March 25 (AJP) - SK hynix has begun taking steps for a U.S. stock-market listing, the chipmaker said on Wednesday. It filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) the previous day, seeking a listing on a U.S. stock market via American Depositary Receipts (ADRs). ADRs allow non-U.S. companies to trade their shares on U.S. stock exchanges through depositary banks rather than by listing shares directly, making it easier for investors to purchase foreign stocks. Its global rivals such as Taiwan's TSMC, use ADRs to trade on the New York Stock Exchange and attract international investors. SK hynix said it aims to be listed within the year, pending the SEC's review, though details such as the size, structure and timing of the IPO have yet to be finalized. 2026-03-25 08:43:05