Middle East Crisis: Is Seoul's market binge over — or will it survive? SEOUL, March 03 (AJP) — Is the two-year bull run in Seoul finally running out of steam, or will the market once again absorb an oil shock and move on? Tuesday’s verdict was brutal. The KOSPI plunged 7.24 percent to 5,791.91, while the tech-heavy KOSDAQ fell 4.62 percent to 1,137.70 — one of the sharpest single-day routs in recent memory. History offers some comfort. In six major Middle East military crises since 2000, the KOSPI was positive one month after each event. The initial reaction varied — often violent — but the pattern was consistent: unless energy supply was materially disrupted, the shock faded. This time, however, investors are not entirely convinced. Hur Joon-young, professor of economics at Sogang University, warned that markets may be underestimating the political dynamics inside Iran. “In previous confrontations, tensions rose but stopped short of prolonged direct war,” Hur said. “If internal pressures within Iran intensify, the conflict could extend beyond the two- to four-week window currently assumed.” He also noted a recurring military lesson: air power alone rarely delivers decisive outcomes. If limited strikes evolve into broader engagement, uncertainty — particularly around energy flows — could persist longer than markets expect. Political calculations in Washington and Jerusalem add another layer of unpredictability. Domestic pressures on leadership could increase escalation risk rather than contain it. In short: the question is not whether there is conflict, but how long it lasts. Markets do not price war; they price oil. The U.S. Energy Information Administration estimates roughly 20.9 million barrels per day transit the Strait of Hormuz — about one-fifth of global petroleum liquids consumption and nearly one-third of seaborne oil trade. History reinforces the point. During the 1990–1991 Gulf War, Brent crude surged toward $40 before easing as supply fears receded. The market reaction depended less on combat itself and more on the durability of supply disruption. If Hormuz flows remain intact, volatility may prove temporary. If they do not, inflation expectations could quickly reprice. The equity response is already bifurcated. Refiners and energy names have rallied on margin expectations. Over the past three months, S-Oil has surged 41.57 percent and SK Innovation 9.71 percent. Defense stocks are in full repricing mode. Hanwha Aerospace jumped nearly 20 percent Tuesday alone, with LIG Nex1 and Hanwha Systems up roughly 30 percent. Brokers cite potential replenishment demand for missile systems in the Gulf, including the Cheongung interceptor and Chunmoo rocket platform. The structural defense bid predates this crisis. Over three months, Hanwha Systems is up 145 percent, Korea Aerospace Industries 75 percent, and Hanwha Aerospace 38 percent. Airlines and travel stocks, by contrast, now face the familiar double hit of fuel costs and demand risk. This is not indiscriminate panic. It is rotation. The counterargument to the selloff is simple: earnings momentum remains intact. Daishin Securities recently lifted its year-end KOSPI target to 7,500 from 5,800, applying forward EPS of 728 and a 12-month PER of 10.32 — broadly in line with post-2021 averages. Forward EPS estimates have already climbed from 555 at end-January to around 610, a 10 percent upward revision. Further sector upgrades could add nearly 14 percent to profits, with semiconductors accounting for the bulk. Kiwoom Securities notes the KOSPI trades just above 10 times forward earnings, with February exports up 29 percent year-on-year, led by chips. If earnings continue to rise, geopolitics may prove noise rather than regime change. The real macro risk lies in second-round effects. If oil prices stay elevated long enough to reignite inflation, expectations for global rate cuts will recede. That would pressure valuation multiples just as earnings optimism peaks. Bond markets are already flashing caution. Short-term yields have risen faster than long-term rates, reflecting inflation sensitivity and diminishing expectations for Bank of Korea easing. A sustained move higher in U.S. Treasury yields would tighten global liquidity — the one variable equities struggle to ignore. Kiwoom’s base case assumes stabilization within a week, even with partial oil disruptions. But sensitivity rises sharply if Hormuz flows are impaired for any sustained period. Markets have historically absorbed geopolitical crises. The S&P 500, for instance, often fell on the first day of Middle East conflicts but recovered within weeks if energy supply remained stable. 2026-03-03 17:31:41

KOSPI rolls back seven days along with sliding Asian markets SEOUL, March 03 (AJP) - Asian markets extended losses while Korean market took the biggest fall Tuesday as rising tensions between the United States, Israel and Iran pushed oil prices higher and kept regional risk sentiment fragile. Brent crude climbed to $80.35 per barrel, up from $77.7 a day ago, as concerns grew over potential disruptions through the Strait of Hormuz, a vital corridor for global energy shipments. The waterway accounts for roughly one-fifth of global seaborne crude flows, much of which is bound for Asia. Korea Leads Regional Declines Korea bore the brunt of the selloff after reopening from a holiday. The benchmark KOSPI fell 7.24 percent to 5,791.9, swinging between a high of 6,180.5 and a low of 5,791.7 before closing near session lows. The drop marked the first decline of more than 7 percent since Aug. 5, 2024. When the index plunged 8.77 percent on Tuesday, it was pushed back toward levels last seen on Feb. 19, when it closed at 5,677.25. Trading turnover reached 52.5 trillion won ($35.7 billion). Losses were broad-based, with decliners far outnumbering advancers. Foreign investors sold 5.15 trillion won worth of shares, while institutions offloaded 886.3 billion won. Retail investors stepped in with purchases of 5.8 trillion won, partially absorbing the pressure. The tech-heavy KOSDAQ dropped 4.6 percent to 1,137.7, though foreign and institutional buying provided relative support compared with the main board. Heavyweight exporters retreated sharply. Samsung Electronics fell 9.9 percent to 195,100 won, and SK hynix declined 11.5 percent to 939,000 won, reversing part of their recent rally. Automakers were among the steepest decliners, with Hyundai Motor sliding 11.7 percent and Kia losing 11.3 percent. LG Energy Solution fell 8 percent, tracking weakness across growth-oriented names. Industrial and biopharma shares also softened, with Samsung Biologics down 5.5 percent and Doosan Enerbility retreating 8.8 percent. In contrast, defense and shipping names stood out as clear gainers. Hanwha Aerospace surged 19.8 percent, while the broader aerospace and defense sector advanced 17 percent. Shipping shares climbed 15.7 percent, reflecting expectations of tighter freight conditions amid geopolitical uncertainty. The Korean won weakened to 1,469.3 per dollar, underscoring external pressure as energy import costs rise. Japan, China Follow Lower Japan’s Nikkei 225 fell 3.1 percent to 56,279.1, while the broader TOPIX declined 3.24 percent, as export-oriented sectors tracked global risk aversion. Losses were more moderate in Greater China. Hong Kong’s Hang Seng Index slipped 1.1 percent, and the Shanghai Composite eased 1.5 percent, as policy expectations helped temper the broader downturn. Safe-Haven Assets Gain Ground Gold rose 1.2 percent to $5,311.6 per troy ounce, extending gains as investors shifted toward defensive assets. Bitcoin traded around $68,220 after volatile swings earlier in the session. With oil prices holding above $80 and currencies under pressure, markets across Asia remained sensitive to developments in the Middle East, leaving volatility elevated heading into upcoming U.S. economic data releases. 2026-03-03 17:28:31

Kookmin University to host international design award in Milan SEOUL, March 03 (AJP) - Kookmin University and the Association for Industrial Design (ADI) will co-host the Design Beyond East and West (DBEW) Award 2026, an international competition aimed at redefining the universal values of contemporary design. The university appointed Paola Antonelli, the senior curator of architecture and design at the Museum of Modern Art (MoMA), to serve as the jury chair for the event. The award seeks to move beyond geographical and cultural divisions to explore how design can integrate human interaction with technology in daily life. The competition marks a significant collaboration between South Korean academia and the Italian design industry to lead global discourse on design education. It is specifically structured to recognize the symbiotic relationship between educators and students, shifting the focus from final products to the creative pedagogical process itself. By honoring both the student's work and the instructor's guidance, the organizers intend to set a new direction for international design leadership and sustainable social impact. The award accepts entries across three main categories: space and architecture; product and fashion; and visual, communication, and service design, which includes artificial intelligence and digital media. To participate, undergraduate or graduate students, or recent graduates within two years of completion, must submit works created within the last two years alongside a faculty mentor. The judging panel includes international experts such as sustainable design theorist John Thackara, industrial designer Stefano Giovannoni, architect Cho Byoung-soo, and Lou Yongqi, president of Shanghai Tech University. "The structure in which professors and students collaborate and submit entries together is a differentiated and meaningful attempt not seen in existing awards," Paola Antonelli said. She noted that the mutual process of teaching and learning between teachers and students maximizes educational achievement. Antonelli further described design as an "act of building bridges," rooted in specific cultural contexts yet connected through abstract principles. Jeong Seung-ryul, president of Kookmin University, stated that the DBEW Award emphasizes the importance of human thinking and collaboration in the era of artificial intelligence. He noted that universities should function as spaces for questioning and debating the creative process rather than just teaching technical skills. President Jeong expressed his hope that the event would serve as a platform for educators and students worldwide to share common problem-solving approaches, reflecting the university's philosophy of building an educational ecosystem without boundaries. The competition has already received hundreds of entries from more than 30 countries since January. Submissions remain open until March 15, 2026, with the final winners to be announced on March 25, 2026. A total prize pool of 25,000 dollars will be awarded during a ceremony and forum scheduled for April 21, 2026, at the ADI Design Museum during Milan Design Week. 2026-03-03 17:14:19

Kim Do-yeong, Ahn Hyeon-min and Shea Whitcomb homer as South Korea wins final WBC tune-up South Korea’s national baseball team closed its pre-tournament schedule with a win ahead of the 2026 World Baseball Classic. The team managed by Ryu Ji-hyeon beat Japan’s Nippon Professional Baseball club Orix Buffaloes 8-5 on March 3 at Kyocera Dome in Osaka in an official WBC exhibition game. South Korea finished its two-game exhibition series against Japanese clubs at 1-0-1 after a 3-3 tie with the Hanshin Tigers a day earlier. The team previously went 4-1 in five warmup games in Okinawa against KBO clubs including the Samsung Lions, Hanwha Eagles and KIA Tigers. South Korea will now travel to Tokyo. It opens group play on March 5 at Tokyo Dome against the Czech Republic. The offense showed power, scoring eight runs on 10 hits, including three home runs, as the team sharpened its bats ahead of the opener. Ahn Hyeon-min had three hits, including a homer. Leadoff hitter Kim Do-yeong of the KIA Tigers homered for the second straight day. Korean American slugger Shea Whitcomb of the Houston Astros hit his first exhibition hit as a home run. Starter Dane Dunning, a Korean American pitcher with the Seattle Mariners, worked three scoreless innings, allowing three hits and striking out one. Wearing the national team uniform for the first time ahead of the tournament, he delivered a strong debut. Relievers Ko Woo-suk of the Detroit Tigers, Kim Young-gyu of the NC Dinos and Cho Byung-hyun of the SSG Landers each threw a scoreless inning from the fifth through the seventh.* This article has been translated by AI. 2026-03-03 17:12:00

First reserve forces training begins amid heightened global tensions SEOUL, March 03 (AJP) - Amid growing global uncertainty, this year’s first reserve forces training began on Tuesday in South Korea. As military clashes between Iran and the United States and Israel continue for a fourth consecutive day, reserve troops conducted urban combat drills and video-based simulated live-fire training at the Pyeongtaek–Osan Advanced Reserve Training Center under the Republic of Korea Army 51st Infantry Division in Pyeongtaek, Gyeonggi Province. Amid ongoing international security instability, this year’s reserve training exercises will be carried out nationwide in phases. 2026-03-03 17:10:09

KG Mobility February Sales Fall 2.6% to 8,237 on Export Slump KG Mobility (KGM) said Tuesday it sold 8,237 vehicles in February, down 2.6% from a year earlier. Domestic sales rose 38.3% to 3,701 units, while overseas sales fell 21% to 4,536. KGM said its domestic performance improved on higher deliveries of the Musso, launched in January. February marked the company’s strongest monthly domestic sales in five months, since September last year (4,100 units). Musso sales increased 24% from the previous month to 1,393 units, following 1,123 in January. Exports of the Torres EVX rose 22% from the prior month to 1,445 units, but total exports edged lower overall. KGM said it plans to boost sales by strengthening customer engagement and brand communication at home, rolling out new models such as the Musso, and stepping up efforts in export markets.* This article has been translated by AI. 2026-03-03 17:09:06

S. Korea's benchmark KOSPI drops due to war in Middle East SEOUL, March 03 (AJP) - The benchmark KOSPI plunged on Tuesday as geopolitical tensions escalated following the outbreak of war between the United States and Iran. The KOSPI closed at 5,791.91, down 452.22 points, or 7.24 percent, from the previous session. The tech-heavy KOSDAQ also fell 55.08 points, or 4.62 percent, to finish at 1,137.70. An electronic board at the dealing room of Hana Bank in central Seoul displayed the sharp decline in the benchmark index. 2026-03-03 17:08:45

Travel YouTuber Pani Bottle Draws Profile Image for Kim Seon-tae’s New Channel Kim Seon-tae, known as “Chungju Man” during his time as a public official, has launched a new YouTube channel, and the person behind its profile illustration has been revealed as travel YouTuber Pani Bottle, who has about 2.54 million subscribers. Pani Bottle wrote on social media on the 3rd, “I tried making the profile drawing for ‘ex-Chungju Man’ Kim Seon-tae’s new channel.” He added, “I support Kim Seon-tae, now a private citizen, as he makes a fresh start.” Kim opened his YouTube channel, titled “Kim Seon-tae,” on the 2nd. The channel description says, “Promoting everything in the world.” It has already surpassed about 10,000 subscribers. After Kim signaled his intention to resign, speculation circulated about a possible offer from Cheong Wa Dae, a move into politics, or recruitment by a major company or an entertainment agency. Kim instead chose to pursue YouTube. Kim joined the civil service in 2016 as a ninth-grade official and oversaw the city of Chungju’s official YouTube channel, “ChungTV,” which drew attention after surpassing 900,000 subscribers. 2026-03-03 16:58:16

Kia’s February Global Sales Fall 2.8% to 247,401 Vehicles Kia said Tuesday it sold 247,401 vehicles worldwide in February, down 2.8% from a year earlier. Domestic sales fell 8.7% to 42,002 units, while overseas sales slipped 1.5% to 205,005. Special-purpose vehicle sales totaled 394 units. The Sportage was Kia’s best-selling model globally, with 47,081 units sold. It was followed by the Seltos with 24,305 and the K4 with 18,434. In South Korea, the Sorento led sales with 7,693 units. In the domestic passenger-car segment, Kia sold 9,896 units, led by the Ray (3,241), K5 (2,175) and K8 (1,384). Domestic RV sales totaled 25,447 units, including the Sorento, Sportage (3,800), Carnival (3,712) and EV3 (3,469). In commercial vehicles, Kia sold 6,659 units, including the PV5 (3,967) and Bongo III (2,607). Electric vehicle sales reached 14,488 units, topping 10,000 in a month for the first time and marking a record monthly total. The PV5 led with 3,967 units, followed by the EV3 with 3,469 and the EV5 with 2,524. Overseas, the Sportage was the top seller with 43,281 units, followed by the Seltos with 22,875 and the K4 with 18,434. Special-purpose vehicles totaled 394 units, including 64 sold domestically and 330 overseas. A Kia official said domestic sales temporarily declined because the Lunar New Year holiday reduced the number of business days from a year earlier. The official said the company will work to improve sales with new models and eco-friendly vehicles, including the Seltos hybrid, PV5 and EV5.* This article has been translated by AI. 2026-03-03 16:57:30

GM Korea February Sales Fall 7.6% to 36,630 Vehicles GM Korea said Tuesday it sold 36,630 vehicles in February, down 7.6% from a year earlier. Domestic sales stayed below 1,000 units for a second straight month, following January. Overseas sales totaled 35,703 vehicles, about 97.5% of the company’s February volume. Exports of the Chevrolet Trailblazer, including derivative models, rose 7.8% from a year earlier to 13,004 units. In South Korea, GM Korea sold 927 vehicles, a 37.4% drop from a year earlier. The Chevrolet Trax Crossover led domestic results with 771 units. Gustavo Colossi, vice president for sales, service and marketing at GM Korea, said the company has prepared special promotions for March as the spring season begins, aiming to expand opportunities for customers to experience the competitiveness of Chevrolet products.* This article has been translated by AI. 2026-03-03 16:54:08