Korean Shipbuilders Warn Ethylene Shortage Could Disrupt Production if It Lasts Past March The war in the Middle East and the closure of the Strait of Hormuz are jolting South Korea’s shipbuilding industry, which has been running at near full capacity on a recent boom in orders. The immediate concern is an unstable supply of ethylene, an essential gas used in ship construction, raising the risk of production disruptions if the shortage persists. Multiple shipbuilding industry officials told Aju Business on the 16th that yards are holding out on inventories for now, but prolonged supply problems could first hit steel-cutting operations. “This month is the deadline,” they said. Officials pointed to the biggest pressure point: most shipyards are in a “full capacity” situation with docks filled by increased orders. With schedules tightly packed, any disruption in raw materials could delay processes and ripple through overall build timelines. At shipyards, ethylene is used to cut steel plates. Because shipbuilding steel is typically thick and difficult to process with standard cutting methods, builders use ethylene to raise flame temperatures from about 1,000 degrees to as high as 1,500 degrees before cutting plates to drawings. Since cutting steel to specification is a basic step in ship construction, ethylene is considered indispensable. The supply instability stems from the Middle East conflict, which has shaken feedstock flows. South Korea relies heavily on imports for ethylene, and more than half of those imports pass through the Strait of Hormuz. The industry also warns that if the situation drags on, it could affect “Masga,” a South Korea-U.S. shipbuilding cooperation project that includes ship construction and maintenance, repair and overhaul work. One industry official said most yards are already operating at full tilt, so a prolonged raw-materials problem could weigh on major project schedules. “How long the supply instability lasts is the key,” the official said. The government is monitoring the situation and has begun responding. The Ministry of Trade, Industry and Energy is checking supply conditions after receiving a request from the Korea Offshore & Shipbuilding Association to urgently secure ethylene volumes needed for shipbuilding cutting work. Baek Jeom-gi, a professor of naval architecture and ocean engineering at Pusan National University, said stockpiles are helping for now, but there is little cushion. With shipbuilding increasingly viewed as a strategic cooperation industry with the United States, he said, raw-material supply issues also require a national-level response. Industry officials also say a prolonged ethylene shortage could spread beyond shipbuilding to other manufacturing. Ethylene is a key basic feedstock used to produce plastics and synthetic resins and is widely used in products ranging from automobiles and construction materials to home appliances, smartphones, food, detergents and cosmetics.* This article has been translated by AI. 2026-03-16 18:03:18

Over 200 South Koreans return home on military aircraft from Middle East SEOUL, March 16 (AJP) - Some 204 South Korean nationals residing in Saudi Arabia and other Middle Eastern countries returned home on a military transport aircraft on Sunday. Amid the prolonged Middle East conflict, which began with U.S.-led airstrikes on Iran late last month, the South Korean government launched an evacuation mission, dubbed "Operation Desert Shine," to ensure the safe return of its nationals. A multipurpose transport aircraft flew to Saudi Arabia to evacuate citizens from the region, 142 from Saudi Arabia, 24 from Bahrain, 14 from Kuwait, and 28 from Lebanon. The plane took off from Riyadh, the Saudi capital, the previous day carrying a total of 211 people, including 204 South Korean nationals, five of their foreign family members, and two Japanese nationals. They arrived at a military air base in Seongnam, Gyeonggi Province, around 6 p.m. 2026-03-16 18:01:22

Son Heung-min, Lee Kang-in and Kim Min-jae named to South Korea squad for March friendlies South Korea will take a full-strength squad on a European trip for two March A-match friendlies, its final tune-up ahead of the 2026 FIFA World Cup in North and Central America. Coach Hong Myung-bo announced the call-ups on March 16 at Korea Football Park in Cheonan, South Chungcheong Province. No. 22 South Korea will play No. 37 Ivory Coast at 11 p.m. March 28 (Korea time) at Stadium MK in Milton Keynes, England. It will then face No. 24 Austria at 3:45 a.m. April 1 at Ernst Happel Stadium in Vienna. Ivory Coast was selected as preparation for South Africa, South Korea’s third group-stage opponent in Group A. Austria is positioned as a stand-in for the winner of UEFA playoff Group D, which includes Denmark, North Macedonia, the Czech Republic and Ireland. The team that will join Group A will be decided through the European playoffs later this month. With the trip serving as the last rehearsal before the World Cup begins in June, Hong called in his key overseas-based players, including captain Son Heung-min (Los Angeles FC), Lee Kang-in (Paris Saint-Germain), Kim Min-jae (Bayern Munich), Lee Jae-sung (Mainz) and Hwang Hee-chan (Wolverhampton Wanderers). Hong also selected striker Oh Hyeon-gyu (Besiktas), winger Yang Hyeon-jun (Celtic) and central defender Lee Han-beom (Midtjylland), citing their steady club minutes and form. Midfielder Hwang In-beom (Feyenoord), who was injured in a club match earlier March 16, was included for now. The national team said it will assess his condition before making a final decision on his call-up.* This article has been translated by AI. 2026-03-16 18:00:00

Rice, beans, eggs among items under price control watch SEOUL, March 16 (AJP) -Rice, beans and eggs are among 13 fresh food and grocery items authorities will keep a close eye on amid signs of price increases linked to a prolonged cold spell. In total, 23 items were selected during a government meeting on consumer prices. Of these, 13 items — including rice, beans, garlic, imported fruits, eggs, pork, frozen meat, flour, starch sugar, cooking oil, mackerel, dried seaweed and processed foods — were classified as essential consumer food items. Officials said rice and beans will receive particular attention, with the government ready to release stockpiles to stabilize supply and prices if needed. Authorities will also monitor market conditions and sales when the reserves are supplied. 2026-03-16 17:48:56

Hanwha Group Buys Additional 4.99% Stake in Korea Aerospace Industries Hanwha Group has increased its stake in rival Korea Aerospace Industries (KAI). Hanwha Aerospace said in an audit report on the 16th that it bought 4,864,000 KAI common shares, equal to 4.99%. The company purchased 3,236,635 shares last year and added 1,627,365 shares in the first quarter this year. Hanwha Systems previously said in a business report filed on the 13th that it bought 566,635 KAI common shares — 0.58% of the company’s total shares — for 59.9 billion won in November last year. Hanwha framed the additional purchase as aimed at potential synergy between the companies. Hanwha and KAI work together on programs including South Korea’s KF-21 fighter project: KAI builds the aircraft and Hanwha Aerospace produces the engines used in the jets. The companies also compete in bidding for a space project involving a small-satellite system. A Hanwha Aerospace official said the company expects to expand “mutual synergy” tied to defense exports and said it also expects the move to contribute to cooperation with partner firms and job creation in South Gyeongsang Province, where both companies have bases.* This article has been translated by AI. 2026-03-16 17:48:05

South Korea finishes Winter Paralympics with best-ever medal haul SEOUL, March 16 (AJP) - This year's Winter Paralympics concluded their 10-day competitions in Milan and Cortina d'Ampezzo, Italy, with a closing ceremony held last Sunday. With two gold, four silver, and one bronze medals, South Korea ranked 13th overall in the gold-medal count, the country's best-ever performance in Winter Paralympics history, surpassing its previous record set at the Pyeongchang Games in 2018 when the country secured one gold and two bronze medals. 2026-03-16 17:47:56

Asian stocks diverge, KOSPI ends positive despite jittery won SEOUL, March 16 (AJP) -Asian stock markets diverged Monday as oil prices climbed above $100 in response to tensions around the Strait of Hormuz. With investors weighing energy risks and global demand signals, Japan and China edged lower, while Korea bucked the regional trend on strong semiconductor gains. Brent crude rose 1.6 percent to $104.83 a barrel and West Texas Intermediate crude gained 0.6 percent to $99.30, keeping energy security concerns at the center of regional trading as the Iran conflict entered its third week. Despite the uncertainty, broader risk sentiment showed some stability. S&P 500 futures and Nasdaq 100 futures both rose about 0.7 percent, while the U.S. 10-year Treasury yield slipped to 4.265 percent and the dollar index edged down 0.1 percent to 100.31. Japan’s Nikkei 225 closed down 0.13 percent at 53,751.15 as investors remained cautious following recent volatility tied to energy markets. China’s Shanghai Composite slipped 0.4 percent to 4,079.43, while Hong Kong’s Hang Seng Index traded about 1.4 percent higher in late dealings. In Seoul, the KOSPI rose 1.14 percent to close at 5,549.85, reversing early volatility as gains in Samsung Electronics and SK hynix offset weakness in other sectors. The index had opened 0.43 percent higher at 5,510.82 and swung between a high of 5,561.42 and a low of 5,448.75 during the session. Foreign investors remained heavy sellers, offloading 848.1 billion won ($567 million) worth of shares, while individuals purchased 717.5 billion won and institutions added 89.7 billion won. Technology stocks led the advance. SK hynix surged 7 percent to 974,000 won, while Samsung Electronics gained 2.83 percent to close at 188,700 won as investors continued positioning for strong demand tied to artificial intelligence infrastructure. Elsewhere in the market, automakers weakened, with Hyundai Motor falling 2.1 percent to 506,000 won. Platform and biotech shares also declined, with NAVER dropping 2.3 percent to 218,000 won, Samsung Biologics losing 1.5 percent to 1,568,000 won and Celltrion sliding 2.7 percent to 200,000 won. Defense stocks were slightly softer despite persistent geopolitical tensions, with Hanwha Aerospace edging down 0.8 percent to 1,476,000 won. The tech-heavy KOSDAQ index underperformed, falling 1.27 percent to 1,138.29 as foreign and institutional investors turned net sellers. Individuals bought 712.5 billion won worth of shares on the KOSDAQ. Foreign investors, meanwhile, sold 499.4 billion won and institutions offloaded 171.8 billion won. Currency markets showed some stabilization after earlier volatility. The Korean won remained close to crisis levels, trading at 1,496.7 per dollar on suspected intervention after it tumbled below 1,500 won for the first time in daytime session. 2026-03-16 17:38:28

Cameron Young Wins PGA Tour Players Championship Cameron Young of the United States won the PGA Tour Players Championship, often called the “fifth major,” with a total purse of $25 million. Young shot a 4-under 68 in the final round Monday (Korean time) at TPC Sawgrass’ Stadium Course (par 72) in Ponte Vedra Beach, Florida, making five birdies and one bogey. He finished at 13-under 275, edging Matt Fitzpatrick of England by one stroke. Young, the 2021-2022 PGA Tour Rookie of the Year, earned his second tour title seven months after his first victory at the Wyndham Championship in August last year. He took home $4.5 million (about 6.74 billion won). Before winning at Wyndham, Young had seven runner-up finishes in 93 PGA Tour starts. That total was the most since 1983 among players without a win. He had shown strong form in recent weeks, tying for seventh at the Genesis Invitational and tying for third at the Arnold Palmer Invitational before closing out the win at Sawgrass. Defending champion Rory McIlroy of Northern Ireland finished tied for 46th at even-par 288. Si Woo Kim, the only South Korean player to make the cut, ended tied for 50th at 1-over 289.* This article has been translated by AI. 2026-03-16 17:24:00

BTS LIVE D-5: 'BTS effect' in force as fans swarm into Seoul SEOUL, March 16 (AJP) - Lotus Buzon bought herself a map of downtown Seoul and, on a trek around the city’s Gwanghwamun area, marked all the public restrooms on it. This, she admits, is not normal for a tourist. But then Buzon, a 42-year-old Filipina, is a BTS fan and she is in South Korea for the group’s comeback concert this Saturday. She is not taking any chances with massive crowds expected. Organizers estimate that as many as 300,000 fans could pack into Gwanghwamun Square, an area of roughly 18,900 square meters — about the size of three soccer fields. “Honestly, my biggest worry is whether I will be able to find a restroom,” she says. Before leaving Manila, Buzon found hotel prices already surging and had to settle for accommodation in Seoul’s Gwanak District, which is a 40-minute drive from the concert venue. “Hotel prices were five times higher than usual, but I booked early so I was able to get a reasonable rate,” she said. “Going to restaurants or cafes that day is out of the question,” she said. “My plan is to go straight from my hotel to the concert and try to leave as early as possible before the crowds.” But she is not complaining. A diehard BTS fan, Buzon pulled out plush toys and keyrings from the BT21 merchandise she had just bought at the LINE Store. “I just bought all of these, so I’m really happy right now,” she said. The Korean retail is enjoying an unexpected BTS-driven tourist boon as fans like Buzon turn their enthusiasm into shopping for Korean goods upon arriving early for the concert. The event is expected to generate significant economic impact. The Korea Culture & Tourism Institute (KCTI) estimates that a BTS concert in South Korea could create up to 1.2 trillion won ($900 million) per event, including indirect effects such as intellectual property (IP) revenue and the global promotion of K-pop. Demand is particularly strong for BT21 merchandise, a character brand created with direct participation from BTS members. Developed by LINE FRIENDS, the character brand was created with direct input from all seven members of the group. LINE FRIENDS has expanded the BT21 brand globally, launching various products and content in markets including South Korea, the United States, Japan, Taiwan, Hong Kong, and Thailand. Ahead of the concert, fans have been visiting LINE FRIENDS Square across Seoul to buy BT21 plush dolls, keyrings, and figurines. “BT21 is a globally popular character IP with new products released regularly each season,” an official at IPX, the digital IP platform company behind LINE FRIENDS and BT21 said. “Recently we launched the BT21 World Voyage collection, featuring travel-themed items such as luggage belts, short-sleeve T-shirts, luggage tags and passport cases.” “Visitor numbers at the LINE Friends Square stores in Myeongdong and Insadong rose more than 30 percent last weekend compared with the previous week, and we expect further increases from Thursday through Sunday,” she said. “We are preparing about 20 percent more stock than usual,” she added. “This includes new items like the BT21 World Voyage collection as well as popular staples such as the Seoul Edition and K Edition, which are especially popular among international tourists.” The central Myeongdong retail district is also expanding related products and promotions to capture the “BTS effect.” Shinsegae Duty Free is operating a “K-Wave Zone” at its Myeongdong branch, offering BTS magazines, puzzles, plush toys and BT21 merchandise. The company said sales of BTS-related goods tend to rise whenever major BTS-related news emerges. Shinsegae Department Store is also joining the push. In collaboration with BTS agency HYBE, it will open a pop-up store at its flagship “The Heritage” building in Myeongdong to mark the release of the group’s new studio album. The space will sell the new album and related merchandise from Friday to April 12. Lotte Department Store will launch a “Welcome Lights” project, illuminating Lotte Town Myeongdong in BTS’s signature color, purple. From Thursday to Sunday, the exterior walls of its main store and the adjacent Avenuel building will be lit in purple from 6 p.m. to 10 p.m. each evening. Lotte Department Store will also hold a “K-Wave Shopping Week” for foreign tourists from Thursday to March 29 at its Myeongdong flagship store, Jamsil branch, and Lotte Outlet Seoul Station branch. Convenience store chains are also preparing for the expected surge in visitors. 7-Eleven Korea plans to increase inventories of ready-to-eat meals, instant noodles, mobile accessories, and batteries by up to tenfold at stores near Gwanghwamun and Jongno, while assigning staff capable of assisting customers in foreign languages. GS25 will display IGIN, a liquor product for which BTS member Jin serves as global ambassador. The chain also plans to stock large quantities of items for fans waiting outdoors, including picnic mats, disposable smartphone chargers, and hand warmers. 2026-03-16 17:23:28

South Korean Biotechs to Showcase Alzheimer’s Advances at AD/PD 2026 South Korean biotech companies are heading to a major global meeting with updates on an oral Alzheimer’s drug candidate and artificial intelligence-based brain imaging tools. They aim to accelerate talks with big pharmaceutical companies as they target an Alzheimer’s drug market expected to grow to about 26 trillion won. According to the industry on March 17, the Alzheimer’s and Parkinson’s Diseases International Conference (AD/PD 2026) will be held March 17-21 (local time) in Copenhagen, Denmark. The meeting is a leading conference in the Alzheimer’s and Parkinson’s fields, drawing more than 5,000 attendees, with next-generation treatment strategies set as a key session theme. Global drugmakers including Novo Nordisk and Eisai are also expected to participate, sharing next-generation pipelines and biomarker strategies and seeking to expand partnerships. Aribio will present progress and data from the global Phase 3 trial (Polaris-AD) of its oral Alzheimer’s candidate AR1001. Polaris-AD is a large study enrolling 1,535 patients with mild to mild-to-moderate Alzheimer’s disease at about 230 clinical sites in 13 countries. The trial design includes 52 weeks of double-blind dosing followed by a 52-week extension period. The company said that of about 500 patients who completed 52 weeks of dosing, more than 95% voluntarily joined the additional one-year extension study, raising expectations for efficacy and safety. The trial is in its final stage, Aribio said. The company plans to announce key topline results in the first half of next year and pursue a New Drug Application with the U.S. Food and Drug Administration in the second half. Aribio said AR1001 is designed as a once-daily oral drug, offering greater convenience than injections, and that no ARIA-E/H (brain swelling and brain hemorrhage) side effects commonly seen with antibody therapies have been observed so far in the Phase 3 trial. Neurofit, an AI company focused on brain disease diagnosis and treatment, will showcase a brain imaging analysis portfolio spanning the full lifecycle of Alzheimer’s therapies. At its booth, Neurofit will display its prescription support solution Neurofit AQUA AD Plus, neurodegeneration analysis software Neurofit AQUA, and PET quantitative analysis software Neurofit SCALE PET. Neurofit AQUA AD Plus quantitatively analyzes MRI and PET images to support, in one workflow, patient suitability assessments, side-effect monitoring during treatment, and post-treatment effectiveness analysis. Neurofit will also present two abstracts on Alzheimer’s brain imaging, including deep learning-based segmentation research on ARIA and hemorrhagic lesions in cerebral amyloid angiopathy, and a comparative study of Centiloid analysis. “Interest is growing in imaging analysis for prescribing Alzheimer’s treatments, including Neurofit AQUA AD Plus,” co-CEO Bin Jun-gil said. “We will use this conference to expand strategic partnerships with big pharma and deliver tangible business results.” The Alzheimer’s drug market is seen as a key battleground for next-generation biopharmaceuticals, including antibody therapies, genome-based drugs and brain delivery platforms. In the United States, amyloid beta-targeting antibody treatments such as Eisai and Biogen’s Leqembi (lecanemab) and Eli Lilly’s Kisunla (donanemab) have received approvals, expanding the market. Market growth is also drawing attention. Market Insights forecasts the global Alzheimer’s therapeutics market will grow from about 8.9 trillion won last year to about 26.7 trillion won by 2034.* This article has been translated by AI. 2026-03-16 17:21:00