VLCC Tanker Charter Rates Top $400,000 a Day After Iran War, Data Show U.S. and Israeli strikes on Iran have pushed daily charter rates for very large crude carriers above $400,000, as fears grow that Iran could block shipping through the Strait of Hormuz. Rates that had been in the low $200,000s surged to nearly double in a short period as Iran escalated its threats. Some analysts say rates could climb toward $800,000 a day if a blockade takes hold. According to a Middle East-to-East Asia (MEG-China) VLCC route indicator obtained by Ajunews, the Worldscale (WS) tanker index stood at 410.44 as of March 2. That implies a daily time-charter equivalent, or TCE, of $423,736. That is more than double the WS 224.72 and TCE $218,154 recorded on Feb. 27, just before the outbreak of war between the U.S.-Israel side and Iran, the data showed. In January, the WS index was 96.12 and the TCE was $78,793, meaning rates have risen more than fivefold in about a month. Worldscale is a standard benchmark used to settle international tanker freight, with 100 typically treated as the baseline. A reading above 400 is widely seen as an extreme level reflecting war risk rather than ordinary market strength. Iran said through the semiofficial ISNA news agency that “the Strait of Hormuz has been closed,” warning that “any vessel that attempts to pass will be burned by the Revolutionary Guards and the regular navy.” It added that it would ensure “not a single drop of oil” leaves. Market participants fear tanker freight could jump more than tenfold from prewar levels if the Hormuz route is effectively shut, as marine insurance — a major component of shipping costs — continues to rise sharply. About 20% of the world’s seaborne crude oil passes through the Strait of Hormuz, making it a strategic chokepoint. Some in the market say that if tensions persist, the WS index could approach 800 and daily charter rates could near $800,000. The surge in tanker costs is also adding upward pressure on energy prices in South Korea, which relies heavily on Middle Eastern crude. Higher Middle East-to-East Asia transport costs are likely to raise refiners’ import costs, and, together with rising global oil prices, could lift domestic prices for petroleum and petrochemical products and consumer inflation. A shipping industry official said the strait has not been “physically completely blocked,” but the risk of attack means shipping companies “effectively view it as a blockade.” The official added that WS 400 is “an extreme level beyond market common sense,” and that if war-related uncertainty continues, the shock could spread beyond shipowners to global logistics overall. 2026-03-03 12:03:22

BTS Comeback D-17: Show goes on regardless of Middle East tensions SEOUL, March 03 (AJP) - With 17 days to go, BTS is pressing ahead with its long-awaited return, undeterred for now by escalating military tensions across the Middle East. The group is set to release its fifth studio album on March 20, followed by a free concert at Gwanghwamun in central Seoul on March 21 — a symbolic stage meant to herald its first full-group comeback in nearly four years. “The schedules will proceed as announced,” a source close to the matter said, adding that plans to include additional Middle East dates in the world tour calendar “will be put on hold.” BTS will kick off its “ARIRANG” world tour on April 9 in Goyang, South Korea, with 82 performances planned across 23 countries over the next year. While no immediate changes have been made to the announced itinerary, widening conflict in the Middle East has introduced logistical uncertainties. Industry observers note that prolonged airspace closures and maritime disruptions could complicate global tour preparations. Flight tracking service Flightradar24 reported that more than 4,000 flights per day have been cancelled across the Middle East. Aviation analytics firm Cirium said 79 percent of flights to Qatar and 71 percent to the United Arab Emirates were cancelled, with Israel and Bahrain seeing cancellation rates exceeding 80 percent. Several regional carriers have suspended regular commercial operations, maintaining only limited special or repatriation flights as airspace restrictions persist. The suspension of key Middle Eastern routes highlights the broader disruption to international travel in the region. While no BTS tour dates have been announced for Middle Eastern cities, prolonged flight cancellations could potentially affect fans planning cross-border travel for major live events, depending on how the situation evolves. Large-scale stadium tours rely on intricate cross-border coordination, including the transport of stage structures, lighting systems, sound equipment and merchandise. Certain high-spec components are often shipped via air freight, making aviation disruptions a potential bottleneck. For now, organizers say no direct impact on scheduled events has been identified. 2026-03-03 11:50:23

Samsung showcases AI-powered devices at Mobile World Congress in Barcelona SEOUL, March 3 (AJP) - Samsung Electronics has been showcasing artificial intelligence (AI)-based network services and other technologies at this year's Mobile World Congress (MWC) in Barcelona, Spain, which kicked off on Monday. The electronics giant set up a large booth at the Fira Gran Via, the venue of the annual tech expo, featuring its flagship Galaxy phone series and highlighting its aim to offer customers services beyond mobile devices while expanding into a broader ecosystem. Featuring its latest Galaxy S26 series, Samsung created hands-on zones where visitors could experience its various devices and gadgets designed to enhance customers' everyday tasks and convenience. Samsung also highlighted expanded connectivity across its lineup including the Galaxy Buds4 series for immersive audio and the Galaxy Book6 series, designed for high performance and optimized productivity. It also showcased personalized health experiences powered by AI and highlighted future mobile directions with next-generation devices including the Galaxy XR and Galaxy Z Tri-Fold. The annual MWC runs from March 2 to 5. 2026-03-03 11:41:46

Director Jang Hang-jun to Return to SBS Radio as Film Nears 10 Million Viewers The film “The Man Who Lives With the King” is closing in on 10 million moviegoers, drawing attention to whether director Jang Hang-jun will walk back a joking pledge he made earlier this year.  Jang will appear with BA Entertainment CEO Jang Won-seok on a recorded broadcast of SBS PowerFM’s “Bae Seong-jae’s Ten” on March 4. The episode is scheduled to air March 8.  Interest is focused on how Jang will address his so-called “10 million pledge,” made during a January appearance on the program. At the time, he said, “It won’t happen, but if it does, I’ll change my phone number, change my name, get plastic surgery so no one recognizes me. I’m even thinking about changing my nationality. I hope no one looks for me. I’ll have to throw a party on a boat.”  That joke is now closer to becoming reality. According to the Korean Film Council’s integrated box office system on March 3, the movie drew 2,479,933 admissions from Feb. 27 to March 2, a holiday period, bringing its cumulative total to 9,213,368.  Online, users have teased Jang for speaking too soon while cheering the film on toward the 10 million mark.  2026-03-03 11:36:18

Asian markets stay low, KOSPI down nearly 3% but defense stocks fly SEOUL, March 3 (AJP) — Asian markets remained lower Tuesday as the region is expected to bear the collateral damage from the closure of the Strait of Hormuz responsible for 70 to 90 percent of fuel imports from the Middle East. The Seoul bourse was heavily volatile, with the KOSPI swinging between 6,180 and 6,040.60 amid a tug-of-war between retail buying and foreign selling. As of 11:10 a.m., the benchmark index was down 2.89 percent at 6,063.39. On the secondary bourse, the tone diverged. Foreign and institutional investors kept buying while retailers took profits, helping the KOSDAQ edge up 0.31 percent to 1,195.15. Heavyweight chipmakers retreated but remained above the psychological milestones they broke last week. Samsung Electronics fell 2.31 percent to 211,500 won, while SK hynix declined 2.26 percent to 1,037,000 won. Japan’s Nikkei 225 slid 1.27 percent to 57,320.94 in morning trade. Hong Kong’s Hang Seng Index managed a modest 0.45 percent gain, though broader sentiment remained fragile. While losers overwhelmed gainers on the KOSPI by 749 to 160, defense stocks stood out as clear beneficiaries of heightened geopolitical risk. Hanwha Systems surged 23.68 percent to 140,200 won, and Hanwha Aerospace jumped 13 percent to 1,353,000 won. LIG Nex1 soared 28.59 percent, while Hyundai Rotem gained 9.11 percent and Poongsan advanced 10.09 percent, reflecting expectations of widening battles and an accelerating arms race. The Korean won weakened sharply to 1,465.30 per dollar, around 2 percent off from Friday’s close of 1,438.4, highlighting capital outflow pressures. Safe-haven demand lifted gold 1.40 percent to $5,385.91. Bitcoin initially tumbled after the announcement but later rebounded 3.59 percent to $68,934, underscoring volatile risk sentiment. Battery makers came under pressure, with LG Energy Solution down 2.93 percent and Samsung SDI slipping 2.90 percent. Automakers were among the sharpest decliners. Hyundai Motor Company fell 3.71 percent to 649,000 won, while Kia Corporation dropped 5.55 percent to 194,100 won. Financials were mostly lower. KB Financial Group fell 1.95 percent, Shinhan Financial Group edged down 0.10 percent, and Mirae Asset Securities declined 1.94 percent. Industrial and shipbuilding shares were mixed. HD Hyundai Heavy Industries gained 1.66 percent and Hanwha Ocean rose 3.47 percent, while Doosan Enerbility slipped 1.41 percent. Biopharma heavyweights also retreated, with Samsung Biologics down 2.81 percent and Celltrion losing 1.47 percent. Steelmaker POSCO Holdings dropped 3.27 percent. Entertainment stocks were weaker, with HYBE down 3.61 percent, JYP Entertainment falling 1.72 percent and YG Entertainment declining 3.65 percent. 2026-03-03 11:30:17

Korea Otsuka Pharmaceutical Unveils New SOYJOY Ads Featuring Actor Chae Won-bin Korea Otsuka Pharmaceutical has named actor Chae Won-bin as the new face of its health snack brand SOYJOY and released a new ad campaign titled, “A snack you can feel confident about — in your mouth and in your body.” The company said the ads highlight SOYJOY’s brand identity — “enjoy nutritious soy” — and aim to ease the sense of guilt some consumers feel when eating snacks, encouraging them to choose a healthier option in everyday life. A SOYJOY official at Korea Otsuka Pharmaceutical said Chae’s “trustworthy and healthy image” aligns with the brand’s values and is expected to create “good synergy.” The official added that the company plans to expand consumer touchpoints through a range of brand activities with Chae. SOYJOY, first launched in June 2024, has continued to grow as the “healthy pleasure” trend spreads, the company said. It currently comes in eight flavors. Each bar uses about 35 soybeans, is baked without flour, and is positioned as high in protein and dietary fiber. The product is sold through major online shopping sites and nationwide channels including convenience stores, big-box retailers, supermarkets and Olive Young.* This article has been translated by AI. 2026-03-03 11:15:00

Middle East Crisis – NK condemns attack and likely recalibrate to wage own game SEOUL, March 03 (AJP) - If the U.S.-Israeli strikes that killed Ali Khamenei and the capture of Nicolás Maduro were meant to signal American reach, the leader most coldly calculating their implications would be Kim Jong-un. Pyongyang's Foreign Ministry on Tuesday condemned what it called "illegal aggression" and "hegemonic and gangster-like" behavior by Washington, according to the Korean Central News Agency. The rhetoric was familiar. The strategic takeaway is less so. Unlike Iran or Venezuela, North Korea sits in a different deterrence category. It possesses an operational nuclear arsenal and intercontinental ballistic missiles capable of reaching the U.S. mainland. That reality alone, analysts say, sharply reduces the likelihood that Washington would contemplate a leadership-targeted military option on the peninsula. "North Korea is not like Iran," said Lee Sung-yoon, principal fellow at the Sejong Institute. "North Korea has nuclear weapons and ICBMs, and information about North Korea is so insufficient that it is in a much safer position than Maduro or Khamenei." To Pyongyang, the removal of a non-nuclear state's top leadership through external force assures the United States is willing to use decapitation options if it deems them necessary and Regimes without nuclear deterrence remain vulnerable. The second message is the more powerful one in Pyongyang. Kim has repeatedly declared North Korea's nuclear status "permanent" and "completely and absolutely irreversible," pledging expansion of sea-launched and long-range ballistic systems, AI-enabled unmanned platforms and tactical rocket forces aimed at South Korea. According to the Stockholm International Peace Research Institute, the North is estimated to possess roughly 50 warheads, with fissile material for dozens more. Rather than reopening diplomatic space, the latest strikes could harden Pyongyang's conviction that nuclear capability is the ultimate insurance policy. Yet volatility could broaden the diplomatic theater. Lee argues that the shockwaves from Tehran and Caracas — far from foreclosing talks — could embolden President Donald Trump to pursue a dramatic "grand deal." Trump has previously referred to North Korea as a "nuclear power" during APEC remarks in late 2025 and publicly signaled openness to another meeting. A potential inflection point looms in April, when Trump is scheduled to visit Beijing — a trip that could create space for quiet triangular signaling involving Pyongyang. Kim's recent engagements with Vladimir Putin and Xi Jinping have elevated his diplomatic posture, reinforcing his self-image as a peer rather than a supplicant. "Kim's status has been greatly elevated," Lee said. "By meeting with Trump, he may aim for partial troop withdrawal, arms-control style talks instead of denuclearization, and de facto recognition as a nuclear-armed state." Kim's January address framed the choice starkly: "peaceful coexistence or eternal confrontation." He insisted the future of relations depends "entirely on the attitude of the U.S. side," while leaving open the possibility of talks if Washington ends what Pyongyang calls hostile policies — namely joint U.S.-South Korea military drills and sanctions. 2026-03-03 11:13:37

Hyundai Mobis Showcases Braking, Steering Tech at Sweden Winter Test Site Hyundai Mobis is using the deep winter conditions of northern Europe to strengthen its push into the global auto market. The company said Tuesday it is holding a technology demonstration for global customers at its winter test site in Arjeplog, Sweden. The event has been under way in stages since Feb. 27 local time. About 100 representatives from more than 10 customers in Europe and North America are expected to visit. European automakers on site are known to be showing interest in Hyundai Mobis’ next-generation braking system, which the company plans to mass-produce this year. Hyundai Mobis is demonstrating new products it is discussing for orders or plans to supply by installing them on demo vehicles, then showcasing performance through driving evaluations. The Sweden facility spans 1.7 million square meters and includes 14 tracks designed to simulate snow-covered and icy roads. It also has a workshop for specialized calibration and repairs, allowing real-time feedback to be reflected in adjustments. Arjeplog, a small city in northern Sweden about 7,000 kilometers from South Korea, is home to winter test operations run mainly by European automakers. Hyundai Mobis said it has dispatched large research and development teams there each year from January to March since 2006 to validate key components and advanced technologies. This year, it has transported more than 80 vehicles to the site and is carrying out more than 60 projects. The company said it uses the site to determine whether components under development meet evaluation standards in extreme cold, and to verify autonomous-driving sensors, controllers and algorithms. It also said joint early development of key components with customers ahead of new vehicle launches is increasing. “Customers visiting the winter test site are expressing satisfaction after riding in demo vehicles equipped with Hyundai Mobis solutions for key components such as braking and steering,” a Hyundai Mobis official said. The official said the company plans to underscore to global customers that its competitiveness in key components is backed by large-scale R&D investment and a rigorous quality verification system. Hyundai Mobis also operates a winter test site in the Heihe area of Heilongjiang province in northern China to validate key components for China-market models. In summer, it leases a test site in Wanaka in southern New Zealand to conduct year-round validation under assumed extreme cold conditions.* This article has been translated by AI. 2026-03-03 11:03:34

Pirelli Names Dario Marafuschi Head of Motorsport Unit Pirelli has appointed Dario Marafuschi to lead its motorsport business unit, succeeding Mario Isola. Marafuschi began the role on March 1 and will report on business progress to Giovanni Tronchetti Provera, executive vice president in charge of sustainability, new mobility and motorsport, as Isola did. Isola will support the transition through July 1 to ensure a smooth handover, then leave the company for a new professional challenge. Marafuschi joined Pirelli in 2008 and has extensive Formula 1 experience in research and development. In recent years, he has overseen development of the company’s standard road products. Pirelli thanked Isola for his dedication and passion, citing his contribution to the growth of the motorsport unit. * This article has been translated by AI. 2026-03-03 10:51:17

Tiffany Young Sparks Ring Speculation After Registering Marriage to Byun Yo-han Girls' Generation member Tiffany Young, who has registered her marriage to actor Byun Yo-han, has drawn attention after posting photos that appear to show a ring.  Tiffany Young on March 2 uploaded several photos to her social media account with the caption "HMA." She said the post looked back on last month’s Hanteo Music Awards, which she attended.  One image focusing on her hand drew particular notice. A flashy ring is visible on her middle finger. Some online commenters speculated it could be a proposal ring.  Tiffany Young and Byun completed their marriage registration on Feb. 27. In December, reports said the two were dating with marriage in mind. A wedding date has not been set.  2026-03-03 10:45:14