KB Kookmin Bank Nominates Yeon Tae-hoon as New Outside Director KB Kookmin Bank said Thursday its outside director nomination committee recommended one new outside director and three outside directors for reappointment. The committee nominated Yeon Tae-hoon, a senior research fellow at the Korea Institute of Finance, as the new outside director candidate. Yeon graduated from Seoul National University with a degree in economics and earned master’s and doctoral degrees in economics at the University of Michigan. He previously worked at the Korea Institute of Public Finance and the Korea Development Institute, and now researches capital markets and financial consumer protection, among other topics, at the Korea Institute of Finance. Yeon has also served as an outside director at IBK Investment & Securities, Sh Suhyup Bank, Hyundai Card and Korea Growth Investment Corp. He has held roles including a deliberation member at the Credit Recovery Committee and chair of the Financial Services Commission’s conflict management review committee. The bank said he is regarded as having both on-the-ground financial experience and expertise in consumer protection. The committee said it made the final recommendation after six meetings and three rounds of screening and qualification reviews. Outside directors Moon Soo-bok, Kim Sung-jin and Lee Jung-sook were recommended for reappointment for one-year terms. The nominees are to be formally appointed after a vote at the annual shareholders meeting on March 25. Outside director Seo Tae-jong will step down after the shareholders meeting as his maximum term ends.* This article has been translated by AI. 2026-03-06 16:24:20

Celltrion, Yuhan, Dongkook Pharma and Kolon TissueGene Report New Study, Awards and Deals Celltrion: 52-week Stekima results show long-term treatment competitiveness Celltrion said Thursday that 52-week results from a global Phase 3 trial of its autoimmune disease treatment Stekima (ustekinumab) were published in the international dermatology journal Dermatologic Therapy. The study analyzed 52-week long-term data from a global Phase 3 trial involving 509 patients with moderate to severe plaque psoriasis. It assessed Stekima versus the originator drug across efficacy, safety, immunogenicity and pharmacokinetics. Patients were initially assigned to Stekima or the originator. From week 16, those on the originator were randomized either to continue the originator or to switch to Stekima and were followed through week 52. Results showed similar efficacy between the Stekima and originator groups. Among patients who switched from the originator to Stekima, efficacy remained stable compared with those who stayed on the originator. Safety findings were also comparable, with no meaningful differences in adverse events across groups. Yuhan named a 2025 top disclosure company Yuhan Corp. said Thursday it was selected as an “excellent disclosure company” on the Korea Exchange’s main board at the 2025 securities market disclosure awards ceremony held Wednesday at the exchange’s Seoul office in Yeouido. The designation is awarded to listed companies based on the accuracy, timeliness and completeness of disclosures, as well as efforts to communicate with investors. Yuhan said it was recognized for strengthening trust in capital markets through faithful and transparent disclosures and for providing useful information to investors in a timely manner. The company said it has continued to manage disclosure quality and strengthen internal processes to improve reliability while maintaining communication with investors, efforts it said contributed to greater market transparency. Dongkook Pharmaceutical signs Korea distribution rights deal for Inhilo Plus skin booster Dongkook Pharmaceutical said Thursday it signed a distribution rights agreement to expand domestic distribution of Inhilo Plus, a dual hyaluronic acid (HA)-based skin booster. Inhilo is an injectable HA-based product approved as a Class 4 medical device categorized as a biomaterial for tissue repair. It is designed to provide immediate hydration through HA while stimulating fibroblasts to improve the skin’s structural environment via the extracellular matrix, the company said. Dongkook said Inhilo’s dual-HA design combines low- and high-molecular-weight hyaluronic acid in one syringe (2 mL), which it said can support skin improvement effects. Through the Korea rights agreement with BS Pharm Korea, Dongkook said it plans to secure a stable distribution network for Inhilo and strengthen its position in the domestic aesthetic medical market. Kolon TissueGene presents knee osteoarthritis therapy at U.S. orthopedics meeting Kolon TissueGene said Thursday that co-CEOs Jeon Seung-ho and Noh Moon-jong attended the 2026 American Academy of Orthopaedic Surgeons meeting, held March 2-6 local time in New Orleans, Louisiana. The company described AAOS as the world’s largest orthopedics conference, drawing about 16,000 specialists and global biotech industry participants to share the latest research. Kolon TissueGene said it presented existing clinical data and research progress for TG-C, which it is developing to treat knee osteoarthritis. The company said TG-C could offer an alternative for patients whose current options focus on pain relief or for whom total knee arthroplasty is the only fundamental treatment. It also said it held discussions with potential partners on TG-C commercialization, including talks with medical affairs staff and advisory groups at global pharmaceutical companies on the therapy’s medical value and commercialization strategy. 2026-03-06 16:21:00

South Korea secures 6 million barrels of crude oil from UAE to curb soaring fuel prices SEOUL, March 6 (AJP) - South Korea has secured over 6 million barrels of crude oil from the United Arab Emirates (UAE), Cheong Wa Dae said on Friday. "We have consulted with the UAE to secure crude oil, and the good news is that we were able to secure more than 6 million barrels," presidential chief of staff Kang Hoon-sik said during a press briefing on Friday, adding that it will help stabilize oil prices. Fuel prices in South Korea have been rapidly rising amid the escalating conflict in the Middle East shortly after U.S.-led airstrikes on Iran last week, sparking fears of an energy crisis and prompting the government to vow a crackdown on price collusion and other unfair practices. Kang also said that an additional passenger flight carrying South Korean nationals and other travelers stranded in Dubai is set to arrive at Incheon International Airport later in the day, following discussions with the UAE to ensure their safe return. He pledged to continue talks with the UAE to dispatch a chartered flight to bring back those unable to return due to the closure of airports in Dubai. 2026-03-06 16:13:03

LIG Nex1 Named KRX’s 2025 Award Winner for English-Language Disclosures LIG Nex1 said March 5 it was selected as a “2025 Excellent English-Language Disclosure Company” at an awards ceremony hosted by the Korea Exchange (KRX). The KRX honor recognizes companies that provide high-quality English disclosures quickly and accurately, helping improve capital-market transparency and strengthen trust among global investors. Award recipients receive benefits including a five-year grace period from designation as an unfaithful disclosure company, exemption from annual training and exemption from listing fees. LIG Nex1 said it began issuing English disclosures in 2021, ahead of the phased introduction of mandatory English disclosures, to reduce information gaps between domestic and overseas investors by providing timely and accurate filings. The company said the latest recognition follows its selection as a “2022 Excellent Disclosure Company” for corporate governance report filings and as a “2024 KOSPI Market Excellent Disclosure Company.” “This achievement reflects the results of 10 years of efforts to faithfully meet disclosure obligations since listing on the KOSPI market,” a company official said. “We will continue to prioritize transparent communication with investors at home and abroad to enhance our corporate value in the capital market.”* This article has been translated by AI. 2026-03-06 16:09:20

Day 7 Middle East War: Why shockwaves hit Seoul markets hardest  As the war triggered by U.S.–Israeli strikes on Iran enters its first week, AJP examines how the conflict began and evolved, the emerging power vacuum in Tehran and its implications for Iran and the Gulf states, and the broader impact on global energy routes, financial markets and the international order. SEOUL, March 06 (AJP) - South Korea’s stock market entered 2026 in a euphoric rally. The benchmark KOSPI surged nearly 50 percent in the first two months of the year, pushing past the 6,300 level after an extraordinary 76 percent gain in 2025, making it one of the world’s strongest equity markets. The mood reversed abruptly when investors returned from a long holiday weekend to the shocking news of U.S.–Israeli strikes on Iran that killed the country’s supreme leader and senior military officials. Within days, the Korean equity market experienced one of the most dramatic swings in its history. The first week of the Middle East war triggered a historic whipsaw in Seoul, sending the KOSPI plunging 12 percent in a single session — the worst crash on record — before rebounding nearly 10 percent the next day as oil prices, the Korean won and foreign investor positioning repriced simultaneously. By the end of the first week of March, the market was still roughly 10 percent lower than before the war began. On Wednesday — the second trading day after the weekend strikes — the KOSPI collapsed 12 percent. The index then surged back the following day in a near mirror-image rebound. The tug-of-war continued through Friday as retail investors and foreign funds battled for control of the market, producing one of the most volatile trading weeks in decades. “This market is not for the faint of heart,” veteran investor Jim Bianco wrote on X. Part of the turbulence reflected timing. Korea’s market had been closed for a three-day holiday from Feb. 28 to March 2, compressing the geopolitical shock into the first two trading sessions of March. But the magnitude of the swings also revealed how quickly risk premiums can be repriced in Korea — a market where oil prices, the currency and foreign investor flows often move together. Hormuz shock ripples across Asia The war’s financial shock spread quickly across Asia, a region heavily dependent on Middle Eastern energy shipments passing through the Strait of Hormuz. Although the strait was not formally closed, Iranian threats against vessels and heightened military tensions effectively slowed shipping traffic and increased the perceived risk of disruption. For global markets, the mere possibility of disruption was enough. Even without a full blockade, the risk feeds into energy costs through multiple channels: higher war-risk insurance premiums, tanker rerouting, delivery delays and rising freight rates. Those costs ultimately raise the landed price of oil and industrial inputs. For Korea, those risks translate directly into market volatility. The country imports about 70.7 percent of its crude oil and roughly 20.4 percent of its liquefied natural gas from the Middle East, leaving it unusually exposed to geopolitical disruptions in the Gulf. When global investors move into risk-off mode, those structural vulnerabilities quickly become an equity story. Energy is priced in dollars. When oil rises while the Korean won weakens, the import bill increases twice — lifting inflation risks and squeezing corporate margins. That dynamic was visible throughout the week. The dollar-won exchange rate climbed from 1,439.8 before the war to 1,480.6 by Thursday, briefly touching 1,506.7, a level widely seen by investors as a psychological stress threshold. Meanwhile Brent crude jumped from $72.48 to $84.31, reaching an intraday high of $86.27. For Korea, oil and foreign exchange tend to reinforce each other. When both move at once, the market typically reprices risk more aggressively than peers with lower energy exposure or weaker FX sensitivity. Foreign selling amplifies the drop Foreign investor flows amplified the volatility. Korea’s equity market has one of the highest foreign participation rates among major markets, meaning global portfolio shifts can move the index rapidly. Foreign investors had already been trimming positions after Korea’s extraordinary rally. Data from the Korea Exchange show foreign investors sold 26.1 trillion won worth of shares in the benchmark market this year as of March 3. The selling was concentrated in the large-cap stocks that had led the rally — particularly Samsung Electronics and SK Hynix, the backbone of the KOSPI. Foreign investors sold 22 trillion won worth of Samsung Electronics shares and 10.5 trillion won of SK Hynix, while also trimming positions in Hyundai Motor and Hyundai Mobis. Retail investors moved aggressively in the opposite direction. Individuals bought 12.8 trillion won of Samsung Electronics and 6.7 trillion won of SK Hynix, absorbing much of the foreign selling pressure. According to Noh Dong-gil, a researcher at Shinhan Securities, foreign investors were not abandoning Korea entirely but were rebalancing their portfolios. “They reduced exposure to semiconductors — the key driver of KOSPI volatility — while adding defensive or policy-related stocks,” he said. “The problem was the scale and speed of the selling, which amplified the market’s decline.” Base case vs. Stress case For strategists, the week’s violent swings reflected a rapid shift between base-case and stress-case geopolitical scenarios. Kim Do-un, a senior analyst at Hana Securities, described the whipsaw as a market briefly pricing in an extreme energy shock. Historically, he said, Middle East crises often create buying opportunities — provided the conflict does not escalate into a prolonged oil shock. “If the conflict doesn’t escalate into an all-out regional war and oil does not move into the $100 to $120 range, then the pullback at these levels can be interpreted as a healthy correction,” Kim said. “What we saw was the market’s center of gravity shifting — at least temporarily — from the base scenario toward the worst-case scenario.” Kim mapped those scenarios into index levels. “If the conflict remains contained within roughly two months and the currency stabilizes, the KOSPI’s lower bound would likely be around 5,600,” he said. “But if Hormuz disruption intensifies, the won breaks above 1,500 again and oil approaches $120, then a move toward 5,000 becomes plausible.” 2026-03-06 16:02:53

Day 7 Middle East War: Hormuz chokepoint jolts Korean macroeconomy SEOUL, Mar 06 (AJP) - The war in the Middle East is reverberating far beyond the battlefield. For South Korea — one of the world’s most energy-dependent industrial economies — the shock is moving rapidly through the core channels of the macroeconomy: the currency, bond yields, financial markets and ultimately consumer prices. The immediate trigger is the Strait of Hormuz, the narrow maritime corridor off Iran’s coast through which a large share of the world’s seaborne oil passes. Even without a formal closure, the risk of disruption has been enough to push energy prices, freight costs and financial volatility sharply higher. For Seoul, the result has been a swift repricing of risk across markets. The Korean won has been the first pressure point. As of 2 p.m. Friday, the currency was trading around 1,471 per dollar, nearly 3 percent weaker than the Feb. 25 pre-war level of 1,426.69. During Wednesday’s overnight trading, the won briefly slipped past the 1,500 mark, its sharpest intraday drop since the Asian financial crisis. Verbal intervention from the Bank of Korea (BOK) helped stabilize the currency near 1,462, though it weakened again toward 1,480 the following day. Between the New York close on Feb. 26 and March 3, the won fell 3.15 percent, the steepest decline among major currencies. Over the same period, the New Taiwan dollar dropped 1.39 percent, the Japanese yen 1.01 percent and the euro 1.54 percent. Bond markets reacted just as sharply. On March 3, the yield on Korea’s three-year government bond rose 13.9 basis points to 3.18 percent, while the 10-year yield climbed 14.8 basis points to 3.594 percent — a steeper increase than the rise in U.S. Treasury yields that day. The pressure on the currency reflects Korea’s structural exposure to energy shocks and global capital flows. South Korea imports roughly 70 percent of its crude oil from five Middle Eastern suppliers — Saudi Arabia, the UAE, Kuwait, Iraq and Qatar. More critically, around 95 percent of those shipments must pass through the Strait of Hormuz, one of the world’s most important energy chokepoints. Shipping data suggests traffic through the waterway has slowed dramatically since hostilities began. On Monday only two vessels reportedly transited the strait, far below the usual daily average of 50 to 80 tankers. Freight costs have surged as well. The Baltic Dirty Tanker Index, a benchmark for crude transport rates, jumped 54 percent in a week, rising from 1,991 on Feb. 27 to 3,083 on March 5. In global currency markets the won is often treated as a risk-sensitive proxy for trade and energy exposure, meaning geopolitical shocks that push oil prices higher tend to trigger outsized moves in Korea’s exchange rate. The currency shock has been amplified by extreme volatility in equity markets. Over the two sessions from March 3 to March 4, the KOSPI plunged nearly 20 percent, including a 12.06 percent single-day crash — a drop steeper than the declines following the September 11 attacks in 2001 or the dot-com crash in 2000. Foreign investors drove much of the selling. More than 5.17 trillion won ($3.5 billion) in foreign capital exited Korean equities on March 3 alone, accelerating the pressure on the currency. The selling was concentrated in large-cap exporters — particularly semiconductor and automobile stocks that had led the market rally over the past year. Analysts say the move reflects rapid portfolio rebalancing rather than a deterioration in corporate fundamentals. Oil shock threatens inflation and growth The larger concern now lies in the real economy. Energy costs feed directly into inflation, and the recent surge in oil prices could quickly reverse Korea’s disinflation trend. South Korea’s consumer price index rose 2 percent in February, while core inflation excluding food and energy stood at 2.5 percent. At that time, oil prices were relatively stable. That situation has changed quickly. Dubai crude futures have climbed to around $81 per barrel, Brent crude trades near $84, and U.S. WTI remains close to $79, with markets increasingly focused on the possibility of prices exceeding $100 if Hormuz disruptions intensify. Retail fuel prices are already rising. In Seoul, the average gasoline price increased about 8 percent in a week, from 1,749 won per liter on Feb. 28 to roughly 1,889 won. According to estimates from the Hyundai Research Institute, oil prices above $100 per barrel could reduce South Korea’s annual GDP growth by 0.3 percentage points while raising consumer inflation by around 1.1 percentage points. “A 10 percent rise in international oil prices is estimated to lift South Korea’s CPI growth by about 0.22 percentage points,” said Kwon Hee-jin, a researcher at KB Securities. The Bank of Korea has warned that prolonged conflict could amplify those pressures. “If the Middle East conflict is prolonged, international oil and energy prices are likely to rise,” said Yoo Seong-wook, head of the financial statistics department at the central bank. He added that the shock could weaken global economic conditions and indirectly affect Korea’s trade balance by slowing exports, underscoring the close link between oil prices and growth. For now, the central macro variable is the duration of the conflict. Analysts broadly believe a prolonged war is unlikely, as few global powers have an appetite for sustained escalation. “The crux of the matter is that no one wants a protracted war,” said Patrick Han, head of global business at SK Securities. Still, the conflict has already reshaped financial expectations. Han noted that market hopes for an early U.S. interest-rate cut have temporarily evaporated, as rising energy prices risk reigniting inflation pressures. China’s role could also become decisive. “If the Strait of Hormuz remains closed for an extended period, pressure from China — one of Iran’s key economic partners — will intensify,” said Lee Seung-hoon, a researcher at Meritz Securities. Roughly 40 percent of China’s crude imports pass through Hormuz, while Iranian oil accounts for about 13 percent of its total supply. Some analysts also point to the practical limits of military escalation. The Bank of Korea’s London office has estimated that high-intensity combat could last one to two weeks, shorter than earlier projections, due to constraints on ammunition reserves on both sides. U.S. military officials said Iranian missile launches had already fallen sharply by Thursday. Still, significant uncertainty remains. “For the war to end, negotiations must begin, but it is unclear whether such dialogue can even start,” Han said, noting that Iran’s trust in Washington and Jerusalem may have been shattered by the strikes. “The speed with which negotiations begin will ultimately determine how quickly the conflict can end.” Until shipping flows through Hormuz normalize, South Korea’s macro outlook will remain closely tied to developments thousands of kilometers away in the Persian Gulf. 2026-03-06 15:55:36

Speculation grows as US military assets gather at Osan Air Base SEOUL, March 6 (AJP) - Patriot missile batteries and heavy transport aircraft have been quietly amassing at a U.S. military base in Pyeongtaek, Gyeonggi Province, in what appears to be a consolidation of U.S. air defense assets. According to multiple government sources, Patriot missiles and large U.S. military transport aircraft including C-5s and C-17s have recently been spotted at U.S. Forces Korea (USFK)'s Osan Air Base. Some of the Patriot missiles were reportedly transferred from other U.S. bases. C-17s regularly fly into Osan to transport U.S. equipment and troops, but the presence of the larger C-5 was seen as unusual, the sources said. With concerns growing that the Middle East conflict could become prolonged following U.S.-led airstrikes on Iran last week, the recent movements have fueled speculation that USFK may prepare to deploy some of its military assets overseas in case of contingencies in the region. The Patriot is capable of intercepting incoming missiles at low to medium altitudes, roughly 20 to 40 kilometers above the surface. Together with a Terminal High Altitude Area Defense (THAAD) battery, it forms a core part of USFK's missile defense. Two Patriot batteries were previously deployed to the Middle East during the U.S.' surprise strike on Iranian nuclear facilities last June, under a military operation dubbed "Midnight Hammer," and returned several months later. But some suggest that the recent movements of U.S. military assets may be in preparation for the annual joint exercise between South Korea and the U.S., set to begin next week, rather than a sign of an imminent deployment to the Middle East. For now, both remain uncertain. "It is not appropriate to comment on USFK's operations," said a spokesperson from the Ministry of Defense during a regular press briefing on Friday. He added that USFK's mission is to maintain a strong combined defense posture with South Korea's military to support peace and stability on the Korean Peninsula and in the region, and that the allies will continue to coordinate closely. 2026-03-06 15:38:48

 Sookmyung Women's University researchers identify protein key to maintaining healthy muscle SEOUL, March 06 (AJP) - Professor Yang Young and Dr. Han So-ra from the Department of Biological Sciences and the Research Institute of Women's Health at Sookmyung Women's University have identified that CTRP1, a myokine produced in muscles, plays a critical role in maintaining healthy skeletal muscle. The research team found that CTRP1 regulates mitochondrial homeostasis in immature muscle cells to support normal muscle differentiation. This process induces the formation of muscle fibers favorable for mitochondrial respiration, thereby contributing to the maintenance of healthy muscle tissue. In cases where CTRP1 was absent, the researchers observed muscle damage and reduced muscle strength. These findings align with observations in tissues from patients with muscular diseases, where CTRP1 expression was notably decreased. The study further demonstrated that restoring CTRP1 in deficient cells normalized mitochondrial function and muscle differentiation. The study identifies CTRP1 as a core factor in regulating muscle homeostasis and suggests it as a potential target for gene therapy in muscular diseases. Professor Yang Young stated that the research confirms the possibility of using CTRP1 as a new strategy for regeneration and recovery in the treatment of muscle disorders. The findings were published online in January in Molecular Therapy, the official journal of the American Society of Gene and Cell Therapy and a member of the Cell Press family. (Paper information) Journal: Molecular Therapy (impact factor 12.0, JCR top 2.6 percent) Title: CTRP1 regulates skeletal muscle differentiation through quality control of mitochondrial dynamics and function DOI: https://doi.org/10.1016/j.ymthe.2025.12.063 2026-03-06 15:28:55

South Koreans return home from Middle East SEOUL, March 06 (AJP) - Korean travelers who departed for the Middle East are returning home one by one as many air routes have been disrupted in the aftermath of Middle East tensions. Additionally, the Dubai-Incheon route, which had been suspended due to the aftermath of Iran's airstrikes, resumed on March 6. The flight took off three hours and ten minutes later than scheduled due to local airport conditions. Korean Air has suspended flights to the Middle East until March 8. Meanwhile, the government is reviewing plans to deploy chartered planes and military transport aircraft to the UAE and other locations as early as this weekend, and is in discussions with UAE authorities for this purpose. According to the Ministry of Foreign Affairs, Foreign Minister Cho Hyun held a phone call with UAE Foreign Minister Abdullah bin Zayed Al Nahyan on the night of March 5 to discuss plans for chartered plane takeoffs and landings to support the return of Korean nationals staying in the region. 2026-03-06 15:01:55

Winter Paralympics: Intense Strategy in Wheelchair Curling Mixed Doubles SEOUL, March 06 (AJP) - South Korea’s wheelchair curling mixed doubles team of Lee Yong-seok and Baek Hye-jin defeated Britain and Japan in succession to improve to 2–1 in the preliminary round at the 2026 Milan–Cortina Winter Paralympics. After narrowly losing to host Italy in their opening match, Lee and Baek bounced back with a 14–3 victory over Britain in the morning session before overpowering Japan later in the day. Eight teams are competing in the wheelchair curling mixed doubles event. The preliminary round is played in a round-robin format, with the top four teams advancing to the semifinals. The 2026 Milan–Cortina Winter Paralympics opened on Thursday at the Arena di Verona in Italy and will run through March 15. 2026-03-06 15:00:58