KOSPI unfazed in record-setting solo rally despite U.S. tariff flip-flop SEOUL, February 23 (AJP) — Korean stocks extended their record-setting rally on Monday, showing little sign of disruption from renewed U.S. tariff uncertainty as the benchmark index moved closer to the 5,900 mark while several major Asian markets remained closed. The main KOSPI briefly tested 5,900, extending its roughly 40 percent advance in the first two months of the year. As of 10:54 a.m., the index was up 1.17 percent at 5,875.12. The tech-heavy KOSDAQ rose 1.16 percent to 1,167.41. The Korean won strengthened amid a broad retreat of the U.S. dollar, reflecting growing uncertainty over Washington’s trade policy. The dollar was down 4.40 won at 1,143.60. Investor sentiment remained resilient despite renewed tariff pressure from Washington. President Donald Trump said he would raise a blanket U.S. import tariff to 15 percent after the Supreme Court of the United States struck down much of his second-term tariff regime last week. The administration has since relied on Section 122 of the Trade Act of 1974, which allows temporary tariffs of up to 15 percent for balance-of-payments purposes. For Korea, which runs persistent trade surpluses with the United States, the move suggests that Washington’s tariff policy is entering a new legal phase rather than winding down, keeping external uncertainty elevated. Investor flows were mixed. Individual investors bought a net 423.9 billion won ($320 million), while foreign and institutional investors sold a net 382.1 billion won and 69.9 billion won, respectively. Among heavyweight stocks, Samsung Electronics and SK hynix rose 2.68 percent and 2.42 percent to 195,200 won and 972,000 won, respectively. LG Energy Solution fell 0.87 percent to 398,000 won. Samsung Electronics gained after reports that it reclaimed the No. 1 position in the global DRAM market in the fourth quarter. Optimism over artificial intelligence investment also supported chipmakers. Chey Tae-won, chairman of SK Group, recently warned that while AI demand could push SK hynix’s operating profit beyond $100 billion, the sector also faces unprecedented volatility. Speaking at the Trans-Pacific Dialogue 2026 in Washington last week, Chey said AI is reshaping global industrial structures, creating extraordinary opportunities alongside rising uncertainty. Elsewhere, nuclear and defense shares were mixed. Doosan Enerbility climbed 0.68 percent, while Hanwha Aerospace fell 0.97 percent. Financial stocks led gains after a third amendment to the Commercial Act passed the National Assembly’s Legislation and Judiciary Committee. Samsung Life Insurance rose 4.34 percent, while DB Insurance, Heungkuk Fire & Marine Insurance and Lotte Insurance posted strong gains. In biotech, Samsung Biologics advanced 0.46 percent. Automakers also outperformed. Hyundai Motor rose about 3.93 percent to around 529,000 won on reports of a multi-trillion-won investment plan in Saemangeum, with Kia gaining 1.28 percent. Shipbuilders showed mixed performance, with HD Hyundai Heavy Industries edging up and Hanwha Ocean declining. Construction shares drew attention as Hyundai Engineering & Construction jumped 6.08 percent on expectations of U.S. nuclear reactor investment decisions between 2026 and 2029. In the region, Japanese equity markets were closed for the Emperor’s Birthday holiday. Hong Kong’s Hang Seng Index rose 1.46 percent, while China’s Shanghai market is set to resume trading on Tuesday. 2026-02-23 11:24:50

Exports in February soar to record high on AI chip demand SEOUL, February 23 (AJP) - Exports in February have hit a record high, fueled by strong demand for semiconductor chips. According to preliminary data released by the Korea Customs Service on Monday, outbound shipments for the first 20 days of this month stood at US$43.52 billion, up 23.5 percent from a year earlier, the highest for the period. The previous record was $43 billion, set during the same period in December last year. Semiconductors led the increase as artificial intelligence (AI)-related demand continued to grow. Chip exports surged 134.1 percent to $15.12 billion, accounting for 34.7 percent of total exports, up 16.4 percentage points from a year earlier. Exports rose for petroleum products, computer peripherals, ships, and wireless communications equipment, but fell for passenger cars, auto parts, and precision instruments. By destination, shipments rose to China (up 30.8 percent), the U.S. (up 21.9 percent), Viet Nam (up 17.6 percent), the EU (up 11.4 percent) and Taiwan (up 76.4 percent). Imports during the period totaled $38.57 billion, up 11.7 percent, led by semiconductors, crude oil, semiconductor manufacturing equipment and gas. Imports rose from China, the EU, Taiwan and Viet Nam, but declined from Japan and the U.S. With exports surpassing imports, South Korea posted a trade surplus of $4.95 billion for the period. 2026-02-23 11:17:49

Firefighters struggle to contain wildfire in small town of Hamyang SEOUL, February 23 (AJP) - Firefighters are still struggling to contain a wildfire in the small town of Hamyang, South Gyeongsang Province. According to the Korea Forest Service, the fire has burned some 190 hectares of land and forest as of early Monday morning since the fire broke out around 9 p.m. last Saturday. More than 100 fire trucks and 600 personnel have been deployed to prevent the blaze from spreading to nearby residential areas, but strong winds and rugged terrain have hampered efforts to contain it. No casualties have been reported. 2026-02-23 10:46:36

Seoul assesses impact and uncertainty after US tariff ruling SEOUL, February 23 (AJP) - South Korea will continue discussions with the U.S. on tariff-related issues "in an amicable manner," Trade, Industry and Energy Minister Kim Jeong-gwan said on Monday. The trade chief said the government will ensure that the terms of a tariff deal finalized late last year are not undermined, after U.S. President Donald Trump threatened a new temporary global tariff of 15 percent following the U.S. Supreme Court's nullification of reciprocal tariffs. Kim's remarks came during an emergency meeting at the Korea Chamber of Commerce and Industry in Seoul, attended by relevant government ministries and agencies, as well as business groups. The meeting was convened after the U.S. Supreme Court struck down the use of the International Emergency Economic Powers Act (IEEPA) for tariffs, prompting Trump to announce follow-up measures including global tariffs under Section 122 of the Trade Act and a Section 301 investigation. Participants assessed the potential impact on South Korea's industries and exports and discussed possible response measures. Kim added that the government will work with relevant agencies and industry groups to keep companies informed amid global trade uncertainty. "We will unwaveringly pursue policies to strengthen the competitiveness of companies and diversify export channels in response to potential changes in trade conditions," he said. 2026-02-23 10:24:43

Korea Creative Content Agency Opens Applications for 2026 Korea Indie Game Dev Camp The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency said they will accept applications for the 2026 “Korea Indie Game Dev Camp” from Feb. 23 to March 23. The program will be run on a 6 billion won scale this year, with two tracks: companies and individuals. Projects selected in the final stage will receive development incentive grants of up to 140 million won per project for companies and up to 85 million won per project for individuals. In the first-stage planning track, the organizers plan to support 130 projects: 70 in the company track and 60 in the individual track. The initiative uses a step-by-step competition format: Stage 1 for strong planning, Stage 2 for an early build, Stage 3 for a prototype, and Stage 4 for an enhanced “vertical slice” focusing on core gameplay. Seven companies will participate as partners: Neowiz, Discord, Smilegate, Com2uS Holdings, Krafton, Toss (Viva Republica) and Pearl Abyss. The partners plan to provide stage-by-stage advice, invitations to company events and networking opportunities, support for participation in major exhibitions in and outside South Korea, and investment reviews. The organizers said the public-private effort is intended to help indie developers overcome technical and management constraints and move toward commercialization and global expansion. A “2026 Game Content Production Support” briefing will be held Feb. 24 starting at 2 p.m. in the conference room on the 16th floor of the CKL Corporate Support Center in Gwanghwamun. Details on how to apply and required documents are available in the notice posted on the agency’s website. * This article has been translated by AI. 2026-02-23 09:48:21

Jeju Air to Launch Incheon-Yichang and Daegu-Guilin Flights Twice Weekly Jeju Air said Sunday it will begin twice-weekly service in April on the Incheon-Yichang route and the Daegu-Guilin route. The Incheon-Yichang route will operate twice a week, on Tuesdays and Saturdays, from April 4 to May 30. The Daegu-Guilin route will run as a twice-weekly charter service, on Thursdays and Sundays, from April 30 to May 28. Yichang, a city associated with the historical novel "Romance of the Three Kingdoms," is known for major temples and the Three Gorges Dam, and is a popular gateway for Yangtze River Three Gorges cruises. Guilin, a major tourist destination in southern China, is known for its scenery, including the Li River, as well as attractions such as Guanyan, where visitors explore caves by monorail, and the Longji rice terraces. Jeju Air also said it will resume service during the summer schedule period starting next month on the Incheon-Shijiazhuang route (twice weekly, Mondays and Fridays), the Busan-Shijiazhuang route (twice weekly, Tuesdays and Saturdays) and the Jeju-Beijing Capital route (three times weekly, Mondays, Wednesdays and Fridays). It will double Incheon-Weihai service to 14 flights a week from seven. The airline plans to start Busan-Zhangjiajie flights twice weekly, on Tuesdays and Saturdays, from next month 3, and to resume Incheon-Guilin service four times weekly, on Wednesdays, Thursdays, Saturdays and Sundays, from March 11. Incheon-Yanji service was increased last month to six flights a week, on Mondays, Wednesdays, Thursdays, Fridays, Saturdays and Sundays, as the carrier continues to expand its China network. Jeju Air’s China-route passenger numbers have continued to rise, from about 305,000 in 2023 to about 493,000 in 2024 and about 573,000 last year. A Jeju Air official said travel demand is expected to keep growing as travel becomes more convenient, including through visa-waiver policies by the South Korean and Chinese governments. The official said the airline will work to expand China routes to improve travel options for passengers in both countries. * This article has been translated by AI. 2026-02-23 09:46:10

Soprano Jung Chan-hee Says She Won’t Perform at Jeon Han-gil Concert Soprano Jung Chan-hee said she will not appear at a concert hosted by Jeon Han-gil, a hard-line conservative YouTuber who previously worked as a Korean history instructor. Jung wrote on social media on the 22nd, “I had decided not to appear in this performance and hadn’t said anything separately, but I’m posting this because so many people have contacted me. I will not appear in this performance.” She said she had verbally been asked to perform at a March 1 music concert and agreed, but learned about the poster only after an acquaintance sent it to her two days earlier. “I contacted them and decided not to appear,” she added. Jung said she initially thought no explanation was needed because she had already decided not to participate, but chose to clarify after hearing from many supporters. Earlier, Tae Jin-ah’s agency, Jina Entertainment, also issued a statement the same day saying he would not perform. The agency said it had only received an inquiry describing it as a general event, not a political one. It said an event official visited days earlier and asked whether Tae could appear at an event at 2 p.m. March 2 at KINTEX, and the agency replied that his schedule was available. The agency said it asked whether it was related to politics given the upcoming local elections, but was told it was “just a general event at KINTEX.” The agency added, “Tae Jin-ah has never accepted countless invitations from the political world, and he has absolutely no intention of appearing at political events in the future.” * This article has been translated by AI. 2026-02-23 09:42:15

Brazilian president receives warm welcome from Lee on first state visit in 21 years SEOUL, February 23 (AJP) -Brazilian President Luiz Inacio Lula da Silva was welcomed with a warm embrace by President Lee Jae Myung on Monday, marking his return to South Korea for a state visit — his first in 21 years and the first by a foreign leader since the presidential office returned to Cheong Wa Dae. Lee greeted Lula in the main garden of the presidential compound with open arms as the Brazilian leader stepped out of his vehicle, before the two shared a brief embrace and proceeded to an official welcome ceremony featuring traditional honor guards and a children’s welcoming group. The visit includes bilateral talks, a memorandum of understanding signing ceremony, a joint press announcement, and a state dinner at the Yeongbingwan guest house, with discussions set to focus on deepening cooperation in high-value and emerging industries. The summit agenda covers trade, investment, climate change, energy, defense, science and technology, agriculture and cultural exchanges. Instead of focusing solely on traditional commerce, the talks will prioritize what Brazilian Ambassador to South Korea Marcia Donner Abreu recently described as "productive integration" during an interview with AJP on Feb. 19. The approach is designed to move bilateral ties beyond simple buying and selling, focusing instead on joint value creation through linked supply chains and investments. he two countries plan to collaborate on local downstream processing and refining, moving beyond trade beyond raw materials. The governments also aim to build joint production lines for the C-390 transport aircraft and deepen partnerships in high-growth industries such as biopharmaceuticals, digital technologies and K-beauty. The talks are supported by a personal rapport between the two leaders, who both experienced poverty and sustained work-related injuries as young factory workers. Lee and Lula previously bonded over their shared backgrounds during the Group of Seven summit in Canada last June and the G20 meeting in South Africa in November. Lula will conclude his state visit to South Korea on Feb. 24. 2026-02-23 09:37:20

Survey: New-Car Shoppers Rely on YouTube, Then Verify in Showrooms Before Buying New-car buying is increasingly following a “hybrid” path: shoppers research digitally, then confirm key details offline before deciding. Chabot Mobility said on the 23rd that it analyzed each stage of the car-buying journey for 450 people planning to purchase a new vehicle this year. More than half of respondents, 58.1%, said they got new-car information from YouTube auto reviews. Manufacturer websites followed at 42.2%, then automotive news outlets at 34.3% and online communities and cafes at 30.3%. Traditional channels lagged, with dealer consultations at 18.4% and visits to offline showrooms at 14%. The results suggest shoppers are narrowing candidates through digital channels first, then using consultations to make a final choice. By gender, men reported higher use of YouTube (59.9%) and online communities (32.6%). Women more often cited recommendations from acquaintances (30%), social media (22%) and dealer consultations (22%). By age, YouTube use was most active among people in their 30s to 50s, at about 57% to 62%. For comparing vehicles and checking quotes, the most common method was visiting manufacturer websites directly (48.7%). But asking dealers directly (40.1%) and using integrated comparison platforms (37.2%) were close behind. Next were online community information (35.0%), YouTube comparison videos (29.6%) and automotive media (23.1%). On the importance of seeing a vehicle in person, 61.4% said it is “absolutely necessary,” and 25.6% said they would “check if possible,” meaning 87% viewed an in-person look as a core step. Only 2.2% said online information is enough, and 0.4% said it is not important at all. The share calling it “absolutely necessary” rose with age: 68.6% among people in their 50s and 71.0% among those 60 and older. Offline channels dominated how shoppers check vehicles. Visits to traditional dealership showrooms ranked first at 79.4%, while visits to premium showrooms and brand experience centers were also high at 34.7%. On test drives, 41.2% said they are “absolutely necessary,” and 40.8% said they would “like to if possible,” for a combined 82% treating a test drive as essential or near-essential. Among respondents with monthly income of 10 million won or more, the “absolutely necessary” share was 48.7%, above the overall average. For final purchase decisions, 49.1% said they decide jointly with a spouse, the largest share. Another 35.7% said they decide alone, and 13.4% said they decide jointly with other family members. A Chabot Mobility official said the survey clearly shows a hybrid buying journey in which consumers gather information through digital channels and then make a final decision after offline verification such as test drives.* This article has been translated by AI. 2026-02-23 09:33:18

South Korea to Give 3,000 Young K-Art Creators 9 Million Won a Year To strengthen the foundations of “K-culture,” South Korea will expand investment in foundational arts.  The Ministry of Culture, Sports and Tourism said on the 23rd it will accept applications from March 3 through March 31 for a pilot program, “K-Art Youth Creator Support,” aimed at young artists in foundational arts.  The program will provide annual creation grants of 9 million won to 3,000 creators in foundational arts (age 39 or younger; born on or after Jan. 1, 1986). It will select 1,500 recipients from the Seoul metropolitan area and 1,500 from outside the capital region. The ministry said the grants are intended to help young creators whose low and unstable income makes it difficult to focus on their work. Unless there are special circumstances, those selected this year are expected to receive support again the following year.  Eligible fields include literature, visual arts, performing arts (theater, musical theater, dance, classical and traditional arts), multidisciplinary arts, and convergence and hybrid arts. Popular arts such as pop music and film are excluded.  Applicants can find details in notices posted on the Arts Council Korea website and the websites of 17 provincial and metropolitan cultural foundations. Applications must be submitted through the Arts Council’s National Culture and Arts Support System. Performers may also apply if they have creation credits and submit a creation plan. Regional cultural foundations will first review applicants’ track records and the suitability of their plans. The Korea Culture and Tourism Institute will then allocate slots by region and field and select the final 3,000 recipients. Results will be posted on the websites of the 17 regional cultural foundations.  Recipients must carry out their projects based on their submitted plans and file an interim report and a final report that includes the completed work. Grants will be paid in two installments — 4 million won in the first half of the year and 5 million won in the second half. Failure to submit an interim or final report will limit further payments. The pilot program will run from 2026 to 2027. The Korea Culture and Tourism Institute will lead an evidence-based performance evaluation (a joint study under the National Research Council for Economics, Humanities and Social Sciences) to objectively assess the program’s effects. The evaluation will examine changes in time spent on creative work, increases in creative activity, shifts in income and spending, and how the grants affect young artists’ employment and income. * This article has been translated by AI. 2026-02-23 09:30:25