IBK Industrial Bank of Korea to Provide 2 Trillion Won Package for Regional SMEs IBK Industrial Bank of Korea said March 24 it will launch a 2 trillion won ($) “regional balanced growth” financing package to strengthen the competitiveness of small and midsize companies outside the capital area. The package consists of three programs: liquidity support (1 trillion won), financing-cost relief (1 trillion won) and business restructuring support. The liquidity program targets companies in regional strategic industries and firms relocating to provincial areas. It offers a 0.6 percentage point cut in guarantee fees and up to a 1.3 percentage point reduction in loan rates for three years. To fund the program, the bank will make a special 42 billion won contribution to the Korea Credit Guarantee Fund and the Korea Technology Finance Corp. The financing-cost relief program will be linked to interest-subsidy loans backed by local governments and public institutions, under which they cover the gap between commercial bank rates and a policy target rate. IBK said it will add up to a 1.0 percentage point rate cut on top of local-government benefits to ease interest burdens for regional companies. Under the business restructuring program, the bank will provide investment and financing to strong regional companies that need to shift their business lines, aiming to help provincial SMEs improve their fundamentals and pursue sustainable growth. IBK CEO Jang Min-young said the bank will “take the lead in balanced regional development” by offering “meaningful rate benefits that regional SMEs can feel” and supporting local industrial ecosystems.* This article has been translated by AI. 2026-03-24 14:03:40

KB Financial to Launch Consumer Protection Quality Index to Flag Investment, Fraud Risks KB Financial Group is launching a Consumer Protection Quality Index, or CPQI, to spot risks early, including mismatches between customers’ investment profiles and product risk, as well as financial fraud. The group said the move is aimed at strengthening trust in its financial services.  KB Financial said on 24 it is pushing the consumer-rights measures to mark the fifth anniversary of the Financial Consumer Protection Act.  Major affiliates, including KB Kookmin Bank and KB Life Insurance, will set up consumer protection committees within their boards. The group will also introduce CPQI to respond quickly to warning signs such as sales concentration in certain products or a sudden rise in customer complaints.  The CPQI consolidates consumer-protection check indicators that had been spread across departments involved in risk management, compliance and product operations, covering the full process from product planning and sales to post-sale management. If indicators fall outside the standard, an early-warning system will be triggered. CPQI is divided into four categories: before sales, during sales, after sales and other management indicators. Risk levels will be shown in a three-tier system — normal, watch and high-risk — to support early action and decision-making.  Before-sales indicators include the appropriateness of matching product risk to customers’ investment profiles, the suitability of product mix by risk grade, and monitoring concentration risk in specific funds. During- and after-sales indicators track investor profit-and-loss status and complaint intake.  A KB Financial official said the group aims to build a practical consumer-protection system that customers can feel, rather than a formal one, marking five years since the law took effect. The official said KB Financial will do its best to create a trustworthy financial environment through the new CPQI. * This article has been translated by AI. 2026-03-24 14:03:00

Seoul gains traction as fine-dining destination SEOUL, March 24 (AJP) - Seoul is rapidly emerging as a destination for global gourmets, with interest in the city's fine dining rising sharply recently. According to an analysis by Singapore-based online travel agency Trip.com, searches for fine dining restaurants in Seoul are on the rise. The biggest increase came from Singapore at 22.2 percent from a year ago, followed by Japan at 21.7 percent, Thailand at 17.9 percent and Hong Kong at 15.7 percent. Among South Korean users, the increase was 16.8 percent. The agency attributed the increase to the popularity of South Korean dramas and cooking-themed reality shows. Restaurants run by chefs who appeared on the latest season of Netflix's hit cooking competition show "Culinary Class Wars" such as Eatanic Garden, Mosu Seoul and Swaaniye, all Michelin-starred fine dining restaurants, have placed highly on Trip.com's rankings, with booking inquiries surging. The agency said nearly half of its users cited tasting authentic local food as one of the key factors in choosing a travel destination, and food-related bookings rose 43 percent from a year earlier. "Trips where restaurants themselves become the destination will shape Seoul's tourism competitiveness," said Hong Jong-min, head of Trip.com's Seoul office. Seoul's reputation as a fine-dining destination has been growing, as Trip.com's latest list released last year featured 17 South Korean restaurants among top venues across 68 countries. 2026-03-24 13:56:36

NH NongHyup Bank Offers Free Anti-Voice Phishing Insurance for Seniors NH NongHyup Bank said March 24 it will provide free enrollment in a “voice phishing compensation insurance” program for 1 million South Koreans age 60 and older, a group it described as especially vulnerable to financial fraud. Customers can apply at NH NongHyup Bank branches or through the NH All One Bank app. The policy covers up to 70% of direct remittance losses caused by voice phishing or messenger phishing, with a maximum payout of 10 million won. Bank President Kang Tae-young visited a senior welfare center in Namyangju, Gyeonggi Province, on March 24 and held an on-site enrollment event using a mobile branch. The bank also provided fraud-prevention education for center users. The bank said the initiative was designed to support financially vulnerable groups in line with the government’s inclusive finance policy direction. It is being jointly promoted by NH NongHyup Bank and the NH Urban-Rural Co-Prosperity National Movement Headquarters to build a practical compensation system. NH NongHyup Bank said it has strengthened consumer protection, including creating a dedicated financial fraud response unit within its consumer protection division last year and elevating the division’s standing in its internal organization chart from 15th to second, raising the profile of its chief consumer officer. The bank also operates 24-hour monitoring of suspicious accounts to detect and block transactions believed to be linked to voice phishing, and it said branch staff may halt suspicious transactions during in-person consultations. The amount of losses prevented through these efforts rose from 27.2 billion won at the end of 2023 to 101.0 billion won at the end of 2025, more than tripling. “As financial fraud damage continues to rise, we hope this compensation insurance will provide real help to victims,” Kang said. “We will continue to expand support to underserved areas by using our nationwide branch network.” 2026-03-24 13:39:00

KITA launches Korea-India Exchange Committee to boost business cooperation SEOUL, March 24 (AJP) - The Korea International Trade Association (KITA) announced Tuesday that it has launched the Korea-India Exchange Committee in Seoul to strengthen bilateral economic cooperation. The committee will operate through two groups: an India committee within KITA comprising 28 Korean companies either operating in or seeking entry into India, and a Korea committee under the Confederation of Indian Industry (CII), made up of Indian companies interested in expanding into South Korea. Founded in 1895, CII is India’s largest private-sector business organization, representing more than 360,000 member companies. Around 30 representatives attended the launch ceremony, including KITA Chairman Yoon Jin-sik, Indian Ambassador to South Korea Gourangalal Das, and officials from participating firms such as Meta Biomed, Shinhan Bank, LG Electronics, YG-1, Jusung Engineering, Hana Bank, Hyundai Motor, and Hyosung Heavy Industries. In his opening remarks, Yoon described India as a rapidly growing global manufacturing hub. “India is the world’s fourth-largest economy and is expected to enter the top three within the next three years,” he said. “We hope the Korea-India Exchange Committee will serve as a practical communication channel at the private-sector level and play a key role in elevating bilateral economic cooperation.” Ambassador Das also emphasized the potential for stronger bilateral ties, noting that South Korea is an important strategic partner for India, particularly in manufacturing and advanced technology sectors such as semiconductors, shipbuilding and defense. During an expert session, Korea Institute for International Economic Policy (KIEP) researcher Kim Kyung-hoon presented on recent trends in Korea-India economic cooperation. Kim highlighted India’s role as a key production base for automobiles, smartphones and home appliances, while noting that South Korea’s exports and investment in India remain at about 30 percent and 20 percent, respectively, compared with Vietnam. “This paradoxically suggests significant potential for expanding economic cooperation between the two countries,” he said. The committee plans to co-host the 9th Korea-India Business Forum with CII in the second half of this year to strengthen business partnerships and discuss trade and investment cooperation. KITA also said it will enhance support for Korean companies operating in India through its New Delhi office, which serves as the secretariat for the Korean Chamber of Commerce in India. The office will share information on local regulations and help relay business difficulties — including customs, certification and incentive delays — to the government. 2026-03-24 13:14:23

Asia advances on easing Middle East tensions and oil price drop SEOUL, March 24 (AJP) — Asian markets found modest relief Tuesday on signals of a potential truce after U.S. President Donald Trump suspended his ultimatum over attacks on Iran’s power infrastructure, though gains were pared amid mixed signals from Tehran and Gulf states. Japanese stocks rose at the open on expectations of early de-escalation in the Middle East, with the Nikkei 225 rebounding after plunging more than 5 percent in the previous session on fears of prolonged oil supply disruptions. The index was up 1.42 percent at 52,249.45 in morning trade. Hong Kong’s Hang Seng Index gained 1.55 percent to 24,761.14, China’s Shanghai Composite rose 0.68 percent to 3,839.05, and Taiwan’s TAIEX added 0.58 percent to 32,913.26. Overnight on Wall Street, all three major indexes closed higher after Trump signaled a pause in potential military action against Iran and a resumption of negotiations, boosting hopes for near-term de-escalation. The Dow Jones Industrial Average rose 1.38 percent, while the S&P 500 and Nasdaq gained 1.15 percent and 1.38 percent, respectively. Oil prices also fell more than 10 percent, easing inflation concerns. In Seoul, the benchmark KOSPI rebounded sharply after the previous session’s steep decline. It rose 4.30 percent at the open before trimming gains to trade up 0.32 percent at 5,423.18 as of 10:53 a.m. The KOSDAQ added 0.34 percent to 1,100.63. Major KOSPI heavyweights traded mostly higher. Samsung Electronics rose 1.50 percent to 189,100 won, while SK hynix gained 2.79 percent to 959,000 won. Hyundai Motor advanced 1.55 percent to 492,500 won, and LG Energy Solution jumped 6.60 percent to 379,500 won. Samsung Biologics added 0.46 percent to 1,530,000 won, Hanwha Aerospace rose 3.29 percent to 1,320,000 won, and HD Hyundai Heavy Industries gained 1.79 percent to 511,000 won. Celltrion climbed 2.66 percent to 193,300 won, Hanwha Ocean gained 2.27 percent to 121,600 won, and Hyundai Mobis rose 2.76 percent to 391,500 won. Naver advanced 1.56 percent to 212,250 won, while Mirae Asset Securities edged up 0.48 percent to 62,200 won. KB Financial Group and Samsung C&T posted modest gains, and HD Hyundai Electric rose 0.11 percent to 914,000 won. Samsung Life Insurance was unchanged at 217,500 won. On the downside, Kia fell 2.72 percent to 157,300 won, marking the steepest decline among major stocks. Doosan Enerbility slipped 0.35 percent to 100,350 won, while Shinhan Financial Group edged down 0.67 percent to 89,300 won. On the KOSDAQ, market leadership has been shifting rapidly, with the top spot by market capitalization changing five times so far this year. Biotech stocks have recently emerged as a key driver. Samchundang Pharm rose 4.57 percent to 984,000 won, briefly becoming the largest KOSDAQ stock by market cap. Its share price has surged more than 300 percent so far this year. Leadership has rotated among battery and biotech names, including EcoPro BM, EcoPro, Alteogen and now Samchundang. Despite net foreign selling of 5.8 trillion won in Korean equities over the past week, investors continued to buy biotech stocks, with four biotech firms among the top 10 net purchases. Strong inflows into newly listed active ETFs on the KOSDAQ, heavily weighted toward biotech, have also supported the sector. Analysts say biotech could replace secondary batteries as the next market leader, though high volatility tied to clinical outcomes remains a key risk. The won strengthened slightly to 1,500.60 per dollar from the previous close of 1,517.6, reflecting a temporary easing of Middle East tensions. 2026-03-24 11:24:06

Review: 'Project Hail Mary' Puts Friendship Ahead of Space Spectacle Ryland Grace (Ryan Gosling) wakes up in deep space with no memory and first confronts a blunt reality: He is completely alone. He denies what is happening, mourns dead crewmates and wavers under the strain. But he has a mission he cannot abandon — to save humanity from an extinction-level threat. Even so, 'Project Hail Mary' is not easily described as a straightforward space survival story. What it holds onto is less the grandeur of the assignment than the way one man changes as he connects with someone else. At the start, Grace is no conventional hero. He fears death and never fully warms to the idea of sacrificing himself for the greater good. He has no one on Earth he is desperate to protect. He has become an academic outsider for refusing to bend on an unpopular view, but he is not driven by a sweeping sense of destiny. He is, instead, a stubborn scientist focused on research and teaching. That begins to shift when he encounters an alien being, Rocky. At first, the bond looks like survival instinct: another life form in an unfamiliar void, and a situation that makes reaching out feel necessary. The film pushes the relationship beyond mere cooperation. As they learn each other’s language systems and come to understand culture and habits, Grace’s demeanor changes in visible ways. What may begin as the thrill of first contact grows into something deeper. As they grasp each other’s worlds and circumstances and share the burden of survival and return, their connection strengthens. Grace learns what it means to endure with someone — a sense of solidarity he did not have before. The film’s point becomes clear: A man who could not choose death for all humanity is willing to step into danger for one being — Rocky. A vast cause could not move him to the end, but a relationship could. With nothing to protect, he could not risk his life for anyone. Once he is genuinely connected to another, he becomes someone who can finally give himself up. For that reason, 'Project Hail Mary' uses space as its setting but plays more like a story about forming a bond. For some viewers, that will be both strength and weakness. Those expecting a spectacle-driven adventure or fast pacing may find it loose and subdued, because the film favors emotional movement and accumulated connection over strict scientific rigor. Some stretches clearly drag. Still, it does not easily lose momentum, largely because of the sensory rhythm built by Phil Lord and Christopher Miller. Storybook color, detailed production design and an OST arranged with theme-park variety help keep the narrative from becoming suffocating. Even with cosmic isolation as the backdrop, the film avoids sinking too far into gloom because of that directorial touch. Most striking is the way the film uses a futuristic setting to return to one of the oldest values: solidarity, community and the will to hold on together. Feelings that can sound dated are given specific warmth through Grace and Rocky’s relationship. In the end, what 'Project Hail Mary' offers is not a grand slogan about love for humanity. It is the quieter shift of coming to understand someone — and realizing you do not want to lose them. The film argues that what moves a person to the end is not always a mission to save the world, but sometimes a single being. * This article has been translated by AI. 2026-03-24 11:18:19

Samsung SDI signs mid-to-long-term LFP cathode supply deal with L&F SEOUL, March 24 (AJP) - Samsung SDI said it has signed a mid-to-long-term supply agreement with domestic battery materials maker L&F to secure lithium iron phosphate (LFP) cathode materials outside of China, as it accelerates its push into the North American energy storage system (ESS) market. Under the agreement announced Tuesday, Samsung SDI will procure about 1.6 trillion won ($1.06 billlion) worth of LFP cathode materials from L&F over three years beginning next year for use in ESS battery production. The deal also includes an option to extend supply for an additional three years. Samsung SDI plans to use the cathode materials at StarPlus Energy (SPE), its joint venture with Stellantis in Indiana, United States. SPE has been gradually converting some of its production lines from electric vehicles to ESS since the fourth quarter of last year, and is scheduled to begin mass-producing LFP batteries alongside its existing high-nickel NCA cells from the fourth quarter of this year. "We have proactively signed a supply agreement with a domestic partner in response to growing demand for China-free sourcing," a Samsung SDI spokesperson said. "Through this deal, we will further strengthen our competitiveness in the North American market and create more business opportunities." 2026-03-24 11:14:22

Three workers killed in wind turbine fire in Yeongdeok SEOUL, March 24 (AJP) - Three workers in their 40s and 50s died in a fire at a wind turbine in the eastern coastal county of Yeongdeok on Monday while conducting repairs and inspections. A fire broke out during the staged demolition process. According to Yeongdeok County authorities, all 24 wind turbines installed at the Changpo Wind Farm and nearby areas were installed in 2005 and have exceeded their 20-year design life. The workers who died in the fire were inspecting the bending condition and cracks of the No. 19 wind turbine blade when the accident occurred. All wind turbines at the Changpo Wind Farm have stopped operating since the fire. Fire authorities said access was difficult because the fire occurred 80 meters high on the turbine with a broken blade hanging. Two of three blades fell to the ground. 2026-03-24 11:04:45

HMM marks 50th anniversary with new vision, growth strategy SEOUL, March 24 (AJP) - South Korean container shipping giant HMM unveiled a new corporate vision and growth strategy as it marked the eve of its 50th founding anniversary, signaling fresh ambitions to expand beyond its core shipping business. At a ceremony held at the company's headquarters Tuesday in Yeouido, Seoul, Chief Executive Choi Won-hyok and about 100 employees gathered to formally launch the vision statement "Move Beyond Maritime," which the company described as a commitment to becoming a world-class integrated shipping and logistics group. To anchor the new direction, HMM introduced a four-pillar strategy dubbed "W.A.V.E." — covering workforce development, AI-driven innovation, value-based growth, and environmental transformation. The framework reflects HMM's push to secure long-term competitiveness through talent, technology, and green transition. "Over the past half-century, we have weathered countless choices, challenges, hardships, and successes," Choi said. "All of our achievements stem from the dedicated efforts of those who have worked at sea and on the ground, at home and abroad." He added that HMM must now set sail on another voyage toward becoming a centennial company, and called on employees to work together toward joining the ranks of global top-tier carriers. Founded in 1976 with three tankers, HMM expanded into full containerization by 1986 and launched South Korea's first LNG carrier in 1994. The company posted a record operating profit of about 9.9 trillion won in 2022 after clawing back from a prolonged industry downturn in the 2010s, a revival driven in part by its 2020 delivery of the then-world's largest 24,000 TEU container vessels. HMM said it has since pressed ahead with decarbonization and digitalization efforts, becoming the first domestic carrier to secure methanol- and LNG-fueled container ships, while building a big-data analytics system through a centralized ship operations center. 2026-03-24 11:04:41