Middle East Crisis: BOK to maintain 24/7 monitoring SEOUL, March 3 (AJP) - The Bank of Korea said on Tuesday it will maintain around‑the‑clock monitoring with its overseas offices and discuss potential fallout from the U.S. and Israeli airstrikes on Iran dubbed "Operation Epic Fury." In a meeting chaired by its chief Rhee Chang‑yong, officials discussed global developments since last Saturday's airstrikes, as well as potential volatility in financial markets. With the country's financial and foreign exchange markets resuming trading after a makeup holiday for March 1 Independence Movement Day, the central bank said it will closely monitor the situation and prepare for any possible scenarios including the potential spillover of the conflict into South Korean stock and foreign exchange markets, even though the country is not directly involved in the crisis. It plans to keep a task force in place for the time being to respond promptly as needed. 2026-03-03 10:45:13

Middle East Crisis: Seoul enters emergency mode, readies contingency plan SEOUL, March 03 (AJP) -South Korea postured itself to an emergency mode Tuesday, launching round-the-clock surveillance and readying financial support for exporters as it braces for protracted conflicts in the Middle East and disruption in the fuel flow that could unsettle the economy heavily dependent on external demand and energy imports. Authorities moved swiftly as geopolitical tensions following U.S.-Israeli strikes on Iran rippled across global energy and financial markets, raising concerns over oil supply stability and capital-market volatility. Vice Finance Minister Lee Hyoung-il chaired an inter-agency emergency response meeting, reviewing developments in the Middle East and assessing spillover risks to domestic and overseas financial markets, energy logistics and the real economy. “Given the high uncertainty surrounding developments in the Middle East, all agencies must keep every possibility open and closely monitor changes,” Lee said, adding that the joint emergency response team will convene daily until tensions stabilize. The Bank of Korea (BOK) installed “Middle East Situation Monitoring Task Force” under Governor Rhee Chang-yong to assess the impact on financial and foreign-exchange markets as domestic trading resumed for the first time since the escalation. The central bank said it will maintain the task force and operate a 24-hour monitoring system in coordination with its overseas offices. “We will closely monitor market developments and respond in a timely manner if necessary,” a BOK official said. The BOK had already held an emergency videoconference on Feb. 28 — the day the strikes began — followed by additional briefings on March 2 based on reports from its overseas branches covering Asian and European markets. Global markets reflected heightened geopolitical stress. West Texas Intermediate crude rose 6.3 percent, gold gained 1.2 percent and the dollar index climbed 0.9 percent. The offshore non-deliverable forward (NDF) won rate jumped 26 won to 1,466 per dollar. Authorities warned that volatility in stock and currency markets could intensify depending on how tensions unfold. If abnormal signals emerge, officials stand ready to deploy the government’s “100 trillion won plus alpha” market stabilization program to support corporate bond and commercial paper markets and ensure a soft landing for real estate project financing (PF). Regulators also pledged a strict zero-tolerance policy against fake news, market manipulation and other unfair trading practices. The Financial Supervisory Service and the Korea Exchange will jointly monitor suspicious transactions. To cushion potential spillovers to the real economy, authorities will provide up to 20.3 trillion won in financial support for companies exposed to Middle Eastern trade. Earlier outlined as a 13.3 trillion won package, the framework was expanded to reflect growing uncertainty. Measures include liquidity support, interest rate reductions and dedicated consultation channels for affected firms. While South Korea’s overall export exposure to the Middle East is limited, officials acknowledged that certain small and mid-sized enterprises remain heavily dependent on the region. Rising tensions around the Strait of Hormuz — a critical global oil chokepoint — have prompted intensified monitoring of maritime logistics. Authorities said no abnormal safety developments involving Korean vessels in the region have been identified. Seoul on Tuesday claimed it held oil and natural gas reverses that could last at least 208 days of consumption. Including private-sector stockpiles, total reserves amount to roughly seven months — well above the International Energy Agency’s 90-day recommendation. For now, officials assess the near-term economic impact as manageable unless oil prices surge above $100 per barrel on a sustained basis. Brent crude has risen to around $77–80 per barrel in offshore trading. According to a National Assembly Budget Office estimate, oil at $100 per barrel would widen Korea’s trade deficit by $40.8 billion and lift consumer inflation by 1.3 percentage points. A 5 percent supply disruption could shave 0.6 percentage point off real GDP growth. The government and the BOK currently project 2026 growth at around 2.0 percent, while the Korea Development Institute forecasts 1.9 percent. Sustained oil above $100 could push growth into the low-1 percent range. 2026-03-03 10:27:32

Korea Auto Journalists Association Names Ryu Jong-eun of SamproTV as New President The Korea Auto Journalists Association said Tuesday that Ryu Jong-eun, a reporter at SamproTV elected as its 12th president, has begun his term this month. The association said Ryu was the sole candidate during its nomination period, held from Dec. 29 to Jan. 5. He was elected at the association’s annual general meeting on Feb. 5 at the Korea Transportation Safety Authority’s Automobile Safety Research Institute in Hwaseong, Gyeonggi Province. His three-year term runs from March 1, 2026. Ryu began his journalism career in 2011 at News1 and later worked at ETNews and The Korea Herald, covering social affairs, business and industry. Since 2023, he has covered autos, mobility, batteries, robotics and AI at SamproTV. Within the association, he has served as chair of the ethics committee, chair of the Car of the Year selection committee and chair of the academic committee. “In a rapidly changing media and mobility environment, I will work to make the association a practical hub of knowledge that keeps pace with change,” Ryu said. He pledged to strengthen training for new and early-career reporters, expand cooperation with the National Assembly, government and academia, and increase opportunities for global field visits to deliver results members can feel. At the Feb. 5 general meeting, the association also appointed new officers. Kim Ki-beom, editor-in-chief of Roadtest, and Lee Seung-yong, editor-in-chief of Motor Magazine, were named directors. Bae Dong-jin, head of the Seoul bureau of the Busan Ilbo, and Choi Ki-sung, deputy editor at MaeKyung AX, were elected auditors. The executive team was also reshuffled: Lee Yong-sang of the Kukmin Ilbo was named senior vice president; Yang Seong-un of Metro Newspaper, vice president; Won Seon-woong, editor-in-chief of Global Auto News, chair of the Car of the Year committee; Kim Yeon-ji of MediaPen and Choi Jeong-pil, editor-in-chief of Car Magazine, vice chairs of that committee; Cho A-reum of The Korea Herald, ethics committee chair; Chu Dong-hoon of Maeil Business Newspaper, external cooperation committee chair; Park Ki-beom of News1, academic committee chair; Kim Jae-seong of ZDNet Korea and Pyeon Eun-ji of Dailian, vice chairs of the academic committee; and Choi Yu-bin of Donghaeng Media Sidae, secretary. Founded in 2010, the Korea Auto Journalists Association aims to promote responsible automotive journalism, encourage a sound car culture, improve reporters’ professional skills and expand exchanges among members. It has 60 member outlets, including major newspapers, broadcasters, wire services, online media and automotive publications, with about 200 reporters active.* This article has been translated by AI. 2026-03-03 10:25:15

TV Host Choi Eun-kyung Says She Gave Up on Becoming an English Teacher TV personality Choi Eun-kyung, who began her career as an announcer, has explained why she abandoned her plan to become an English teacher. Choi appeared on the Tuesday guest segment of KBS 1TV’s current affairs and culture program “Morning Forum” on Tuesday. She said she studied English education at Ewha Womans University but ultimately chose a different path, first joining a foreign company and later switching to broadcasting. “I didn’t go to a teachers college because I wanted to be a teacher,” Choi said, adding that she majored in English education at her mother’s suggestion because she needed to find a job. She said her student-teaching assignment at a boys’ middle school made her realize she was not suited to the classroom. “I really couldn’t teach,” she said, recalling that instead of stopping students from fooling around, she would go along with them. She said students asked to dance and sing, and she let them, praising them for doing well. Choi said a principal later reprimanded her, telling her she could not run a class that way. She said the experience made her feel she was not good at teaching and that she even caught herself thinking some students might be fine without studying, leading her to give up on becoming a teacher. Choi said she turned to a foreign company because hiring conditions were better at the time. “Back then it was different from now, and it was easier to get a job,” she said. She said she graduated in 1994 and was hired right away after taking an exam. Although the job offered a favorable five-day workweek, she said she found it boring and quit to prepare for announcer auditions. Choi said she had never imagined appearing on TV, believing only “doll-like” people were on screen. She said she began to consider broadcasting as training academies started to open and she realized that announcers delivered the news. She said she enrolled and began to pursue the goal of becoming an announcer. * This article has been translated by AI. 2026-03-03 10:24:21

South Korea to offer support program for exporters hit by Middle East conflict SEOUL, March 3 (AJP) - The government will come up with support for small and mid‑sized exporters hit by the Middle East conflict following the U.S.‑led military action against Tehran dubbed "Operation Epic Fury" last week. According to the Financial Services Commission (FSC), a financial support program worth approximately 13.3 trillion won (around US$9.2 billion) will be provided to exporters affected by the conflict. The decision was made at a meeting chaired by FSC Chief Lee Eok‑won on Tuesday at the government complex in Seoul, held to discuss support measures with other financial authorities and agencies including the Ministry of Economy and Finance, the Bank of Korea, the Financial Supervisory Service, Korea Development Bank, and Industrial Bank of Korea. Under the program run by the Korea Development Bank (8 trillion won), Industrial Bank of Korea (2.3 trillion won), and the Korea Credit Guarantee Fund (3 trillion won), financial authorities plan to quickly provide funding and interest-rate reductions to affected firms, while also operating a counseling center to support them. The FSS said South Korea's overall exports to the region are not large, but some vulnerable SMEs that rely heavily on the Middle Eastern market will require tailored assistance. Participants forecast that volatility in stock and foreign exchange markets could increase depending on how the situation develops, with possible spillovers to the real economy. They agreed to closely coordinate across agencies to monitor markets and respond as needed. Lee said South Korea's economy and financial markets have solid fundamentals and sufficient capacity to weather the situation, but he urged the implementation of pre-arranged measures to shore up stability if necessary. He also said authorities will strictly punish unfair trading that takes advantage of market uncertainty, including the spread of fake news and price manipulation, and vowed to inspect suspicious activities. Global markets on the previous day reflected the heightened risk from the Middle East, with international oil prices jumping early before giving back some gains. Major stock markets mostly fell or remained flat, while gold prices and the U.S. dollar rose. West Texas Intermediate (WTI) crude increased 6.3 percent from the prior session. The FSS said a joint financial market task force will maintain a 24-hour monitoring system until markets stabilize and will closely share developments with relevant agencies. 2026-03-03 10:19:18

Hyundai Motor Group releases video showcasing unmanned firefighting robot Hyundai Motor Group said it released a video on its YouTube channel on Tuesday introducing unmanned firefighting robot technology it developed with the National Fire Agency. Titled “A Safer Way Home,” the video presents the robot as a next-generation firefighting solution designed to be deployed first at high-risk disaster sites where people may struggle to enter because of collapse risks, extreme heat, explosions, smoke and toxic gases. Hyundai and Kia built the robot in collaboration with Hyundai Rotem, Hyundai Mobis and the National Fire Agency. The video shows the robot responding to a large fire to help reduce casualties and protect firefighters. It features working firefighters from the National 119 Rescue Headquarters, including rescue team leader Lim Pal-sun, who also took part in the narration. In the video, the robot carries out missions using what the company described as physical AI technologies, including an advanced autonomous driving assist system, an AI vision-enhancement camera, a high-pressure photoluminescent reel hose and a 6x6 in-wheel motor system. It also includes footage of the robot’s first on-site deployment, at a factory fire in Eumseong, North Chungcheong Province, on Feb. 30. The autonomous driving assist system detects terrain and obstacles to reduce collision risks and help the robot move steadily in uneven or narrow, obstacle-dense areas, the company said. It has a top speed of 50 kph (31 mph), about twice a running person’s speed, and can climb slopes such as underground parking garage or logistics warehouse ramps. It can also clear vertical obstacles up to 300 millimeters. The AI vision-enhancement camera is intended to help operators identify hazards in advance through remote-control monitoring. Using cameras based on short- and long-wavelength thermal imaging sensors, the system sends detailed site information in real time, the company said, including in conditions where smoke and high heat limit visibility. The high-pressure photoluminescent reel hose is designed to glow in the dark. Firefighters typically follow a hose to find an entry direction and an exit route in low-visibility disaster scenes; the company said the hose can emit or reflect light to guide evacuation routes and support safer movement for entry teams. Hyundai Mobis’ 6x6 in-wheel motor-based electrified system powers the robot, the company said. With motors mounted on each wheel, it can rotate 360 degrees in place to maneuver in tight spaces and complex access routes. Hyundai said it plans to use machine learning to train on-site data such as smoke levels, fire scale and temperature. Hyundai Motor Group said it plans, together with the National Fire Agency and the National Fire Research Institute, to advance the system into a fully unmanned firefighting robot that can assess conditions on its own, analyze the fire’s origin point and suppression priorities, calculate the most efficient suppression method and extinguish the fire. “An unmanned firefighting robot is technology that enters dangerous scenes before people to protect firefighters’ lives and safety,” a Hyundai Motor Group official said. “We will continue technology development and support so it can be a reliable assistant for the uniformed heroes who protect members of our society and public safety.”* This article has been translated by AI. 2026-03-03 10:06:33

Comedian Kim Young-hee Says Husband Turned Down College Coaching Job, Took Secret Loan Comedian Kim Young-hee has spoken publicly about her married life. A March 2 episode of KBS2’s “Malja Show,” a special focused on family breadwinners, featured guests sharing concerns carried by those who have long supported their families. Kim introduced what the program described as a common worry among breadwinners: “As a child, I was a devoted son to my parents, and after marriage, a father to my children. I’ve carried burdens my whole life. When will I be able to put them down and rest?” She said the idea of a breadwinner has changed. “These days, times have changed, so there’s no gender for the head of the household,” she said. She added that her husband, a baseball player who was released, met her while preparing for a career change. Kim said her husband later received an offer to become a university coach but turned it down. “If it were me, I would have learned on the job,” she said, adding that he refused, saying, “It’s not my place,” and that she felt devastated at the time. She also described a dispute tied to a move shortly after giving birth, saying they had to move three days after delivery and nearly lost the contract deposit. Kim said she completed preparations and then went to a postpartum care center. The remaining balance was to be covered by a loan in her husband’s name because his credit was better, she said, but he secretly borrowed 3 million won as a gift for her after the birth of their first child, lowering his credit score. Kim said there is no need to divide who is the breadwinner. “These days, anyone can be the head of the household,” she said, advising breadwinners to ease some of their burden by taking pride in the fact that the money they earn helps feed their families.* This article has been translated by AI. 2026-03-03 09:45:19

Middle East Crisis: Seoul stocks and currency open 2% lower on fuel jitters SEOUL, March 3 (AJP) — South Korean markets, returning from a long weekend, opened sharply lower Tuesday as investors moved to price in rapidly escalating tensions in the Middle East following U.S.-Israeli strikes on Iran and the growing risk of prolonged disruption to energy supplies. The benchmark KOSPI fell 2.60 percent at the open to 6,081.92, while the tech-heavy KOSDAQ dropped 2.57 percent to 1,162.17. The disruption of the Strait of Hormuz — which handles roughly 20 percent of global seaborne oil shipments — has reignited supply concerns across global energy markets. For Asia’s import-dependent economies, the chokepoint represents a critical vulnerability. Although OPEC+ — including Saudi Arabia, the United Arab Emirates and Russia — agreed to increase output by 206,000 barrels per day starting next month, the planned hike amounts to just 0.2 percent of the roughly 100 million barrels produced globally each day, limiting its capacity to offset potential supply losses should the conflict widen. Oil prices remained volatile. Brent crude for May delivery traded at $77.74 per barrel as of 12:55 a.m. BST, little changed from the previous session. U.S. West Texas Intermediate for April delivery stood at $70.82 per barrel as of 6:56 p.m. EST, down $0.40, or 0.56 percent. Still, traders are increasingly pricing in geopolitical risk premiums. Escalating uncertainty surrounding Iran has fueled speculation that crude could surge above $100 per barrel — a level that would amplify inflationary pressure and weigh on global growth. Seoul sought to calm markets. The government said Sunday that South Korea holds sufficient crude oil and LNG stockpiles to last 208 days, pledging close monitoring of financial and energy markets. U.S. President Donald Trump said the war could last “four weeks,” as Iran launched retaliatory strikes across the region in what analysts describe as the most serious security challenge in the Persian Gulf in decades. The Korean won weakened sharply, falling about 2.5 percent from its Feb. 26 high, reflecting a broader risk-off shift across emerging Asian currencies. 2026-03-03 09:28:19

Hyundai Glovis to Showcase Physical AI Logistics Automation at AW 2026 Hyundai Glovis said Tuesday it will take part in the 2026 Smart Factory and Automation Industry Expo (AW 2026) to showcase its logistics automation capabilities based on physical artificial intelligence. AW 2026, which opens Wednesday at COEX in Seoul’s Gangnam district, is the country’s largest smart factory and automation industry exhibition. Hyundai Glovis will set up a booth in the event’s smart logistics pavilion and present an automated logistics environment that links the full process from inbound receiving and storage to sorting and picking, and outbound shipping. The company will also unveil a pallet shuttle system, equipment in which pallets fitted with transport robots move along fixed rails to manage inbound and outbound handling. The pallet shuttle is controlled through “Orca,” a warehouse control system (WCS) platform co-developed with its subsidiary Altiol. Hyundai Glovis will demonstrate item transfers using autonomous mobile robots (AMRs) and robot picking at the show. The booth will also display, for the first time to the general public in South Korea, a non-operational model of Boston Dynamics’ humanoid robot Atlas. Atlas has been undergoing a proof-of-concept project for parts sequencing at a Hyundai Glovis site within Meta Plant America (HMGMA) since last year. Starting in 2028, Hyundai Glovis plans to deploy it first in processes at HMGMA where safety and quality benefits have been clearly verified, including sequencing work for parts classification. Hyundai Glovis said it plans to pursue business expansion by highlighting the physical AI-based logistics automation capabilities presented at the exhibition. A Hyundai Glovis official said the company will focus on early-stage research and strengthening its logistics automation competitiveness to respond quickly to rapid changes in the logistics environment driven by advanced technologies such as physical AI.* This article has been translated by AI. 2026-03-03 09:25:44

Audi Korea Names Lee Gyu-hee as Head of Marketing Communications Audi Korea said Tuesday it has appointed Lee Gyu-hee, an executive director, as its new head of marketing communications. Starting Tuesday, Lee will oversee the company’s overall marketing, including brand strategy, marketing communications, digital and content strategy, and customer experience, Audi Korea said. Audi Korea described Lee as a brand strategy specialist with broad experience across global automotive and performance brands. At Volkswagen Group China, he held key leadership roles including brand management director, marketing director and head of the Brand Innovation Project House, leading initiatives such as brand innovation, market repositioning and building a data-driven marketing system. He also served as marketing and communications director for Asia-Pacific and the Middle East at French high-performance sports car brand Alpine, overseeing marketing strategy in key markets. Lee has also worked in global creative agencies and strategic consulting, and is credited with leading large-scale innovation projects across sectors including automotive, luxury goods and electronics, the company said. Audi Korea is seeking to strengthen its position in the domestic market this year by expanding new model launches and refreshing the brand. The appointment reflects its push to reinforce its premium positioning, upgrade digital marketing capabilities and deliver more customer-centered brand experiences, it said. Audi Korea President Steve Clotty said Lee’s global perspective and strategic expertise will play an important role in taking the Audi brand “to the next level.” He said the company will strengthen touchpoints with customers in South Korea and further solidify Audi’s premium value.* This article has been translated by AI. 2026-03-03 09:18:19