OPINION:  Seoul navigates strategic reckoning as West Asia conflict rewrites energy calculus SEOUL, April 17 (AJP) -The West Asia conflict is forcing South Korea to confront a fundamental shift: energy security is no longer about efficiency, but resilience. For decades, Seoul optimized its energy system for cost and scale — routing roughly 70 percent of its crude imports through the Strait of Hormuz, refining heavier Middle Eastern oil into high-value fuels, and exporting them across global markets. It was a model built on efficiency. That model is now under strain. With the Hormuz corridor constrained and maritime risks spilling into the Red Sea, shipping costs are no longer just a function of distance. They now reflect geopolitical risk. Routes once considered optimal are vulnerable, while alternatives once dismissed as uneconomical are being reassessed through a different lens: safety. The recent transit of a South Korea-linked crude carrier through the Red Sea — the first confirmed Hormuz bypass shipment — captures this shift. It is not simply a logistical workaround, but a signal that Seoul is recalibrating priorities under pressure. Yet the challenge runs deeper than import diversification. South Korea is not just a major crude importer. It is also a critical exporter in the global energy system — a dual role that amplifies the stakes of disruption. Petrochemicals and refined oil products ranked as the country’s third- and fourth-largest export items last year, generating a combined $88.5 billion and accounting for 14 percent of total shipments. The country’s four major refiners — SK Energy, GS Caltex, S-Oil and HD Hyundai Oilbank — exported 86 million barrels of jet fuel in 2025, representing roughly 4 percent of global supply, the largest share worldwide. Despite being the world’s largest crude producer, the United States remains structurally dependent on Korean refining output. Korean shipments accounted for 71 percent of U.S. jet fuel imports last year — equivalent to about 7 percent of total supply. In western regions such as Washington and California, dependence rises to as high as 85 percent of imports. This reflects a structural imbalance. The U.S., buoyed by the shale revolution, produces predominantly light crude, which yields lower refining margins and is less suited for certain high-value fuels. South Korea, by contrast, has built its system around heavier Middle Eastern crude, particularly from Saudi Arabia, enabling it to produce premium products at scale. Washington has urged Seoul to pivot toward U.S. crude, framing it as both a commercial and strategic adjustment. But such a shift is not straightforward. It would require reconfiguring refining systems and could erode Korea’s competitiveness in high-value exports — a sector that has become a pillar of its trade balance. And here lies the contradiction. South Korea’s energy model is built on global integration — importing crude, refining it, and exporting higher-value products. But geopolitical fragmentation is beginning to challenge that model. Supply chains are no longer neutral. They are increasingly shaped by strategic alignments and conflict zones. The immediate risks are already visible. Some 26 South Korea-linked vessels remain stranded or delayed near the Persian Gulf. Shipping through Hormuz has dropped sharply, while insurance costs and security risks are rising. These pressures are feeding directly into domestic fuel prices and industrial margins. The government has responded with short-term stabilizers — emergency crude purchases and fiscal support — but these are stopgaps. The more consequential shift is strategic. Seoul is moving beyond simple diversification toward a broader rethinking of its energy architecture. This includes exploring new sourcing corridors and strengthening ties with alternative partners such as India, whose refining capacity and geographic position offer a potential buffer against Middle Eastern volatility. President Lee Jae Myung’s state visit to New Delhi, accompanied by a large business delegation, reflects this recalibration. Even if tensions ease, the old equilibrium is unlikely to return. U.S.-Iran negotiations may reopen parts of the Hormuz corridor, but under tighter controls and new conditions. The waterway may function again, but it will no longer be a frictionless artery of global trade. For South Korea, that changes the equation. Energy security can no longer be measured solely in cost per barrel. It must now account for route stability, geopolitical exposure and systemic resilience. In that sense, higher shipping costs are not an anomaly — they are the new premium for security. The shift from efficiency to safety will not be painless. It implies higher costs, more complex logistics and potential trade-offs in competitiveness. But the alternative — continued dependence on a single, volatile chokepoint — carries far greater risk. The West Asia conflict is not just disrupting supply. It is rewriting the logic of energy strategy. For Seoul, the task now is to adapt — not incrementally, but structurally — to a world where the cheapest route is no longer the safest one. *The author is the assistant editor of AJP 2026-04-17 15:29:05

Samsung Elec seeks court injunction to block union strike SEOUL, April 17 (AJP) - Samsung Electronics has moved to legally block a planned general strike by its labor unions, warning that disruptions to its semiconductor cleanrooms could trigger losses exceeding $20 billion and damage key client relationships. The South Korean tech giant filed for a provisional injunction with the Suwon District Court on Thursday to prevent what it described as “illegal” protest activities by a joint strike body formed by its three largest labor groups, including the National Samsung Electronics Union (NSEU). The legal action comes as tensions escalate ahead of an 18-day nationwide strike scheduled from May 21 to June 7, following a partial walkout next week amid impasse over performance-based bonuses. Samsung has offered to allocate 10 percent of operating profit to employee bonuses, while unions are demanding 15 percent, emboldened by the company’s record earnings. The company reported stunning first-quarter operating profit of around 57 trillion won. Union leaders dismissed the company’s concerns over potential damage to cleanroom facilities, arguing the strike would remain within legal boundaries. “We will proceed with a lawful strike based on legal review,” said Choi Seung-ho, head of the Samsung Electronics chapter of the Super-enterprise Union in a press briefing Friday, adding that 30,000 to 40,000 members are expected to join a mass rally on April 23. The chipmaker and industry watchers however warn even limited disruptions could have outsized consequences given the nature of semiconductor manufacturing. Chip production relies on uninterrupted, highly sensitive processes and any halt could render in-process wafers unusable, forcing large-scale scrapping and delaying deliveries. “If production lines stop, everything currently in the process must be scrapped,” said Lee Jong-hwan, a professor of system semiconductor engineering at Sangmyung University. “The damage could far exceed initial estimates.” Beyond immediate losses, analysts point to longer-term risks. Delays in supplying high-bandwidth memory (HBM) chips or foundry orders could prompt major clients such as Nvidia to shift orders to rivals including SK hynix or TSMC. “Once trust is broken, it takes years to recover,” Lee said, warning the disruption could widen Samsung’s gap in the fast-moving AI chip market. Union officials estimate that an 18-day strike could result in direct production losses of at least 12 trillion won, with total damages potentially reaching 20 trillion to 30 trillion won when factoring in recovery time. Stopping the strike however won't be easy, experts say. "Courts tend to prioritize constitutional labor rights unless the industry is deemed essential, such as healthcare or railways,” said Lee Byung-hoon, a professor emeritus of sociology at Chung-Ang University. The dispute also reflects deeper tensions rooted in Samsung’s long-standing non-union management culture, which has only recently begun to shift. Underscoring the conflict between the management and union, Samsung has filed a criminal complaint against an employee accused of illegally collecting personal data of around 20,000 workers, allegedly to pressure non-union members. With global tech clients closely watching, the court’s decision could prove pivotal—not only for Samsung’s labor relations but also for its ability to sustain momentum in the ongoing AI-driven semiconductor boom. 2026-04-17 15:16:26

Hanmi Launches Task Force to Commercialize Obesity Drug Efpeglenatide; Other Pharma-Bio Updates Hanmi launches companywide task force to commercialize obesity drug efpeglenatide this year "The development of Efe reflects Hanmi’s spirit of not being discouraged by failure and turning it into a bigger opportunity." Lim Ju-hyeon, vice chair of Hanmi Group, made the remarks April 13 at Hanmi C&C Square in Seoul as the company launched a cross-company consultative body, dubbed the “Efe Project–Seosa,” aimed at commercializing the obesity drug candidate efpeglenatide, known as Efe, within the year. The event included Lim and Hwang Sang-yeon, Hanmi Pharmaceutical’s new CEO and the company’s first chief executive hired from outside since its founding, along with key executives from new product development, marketing and R&D, the company said. The group plans to hold formal meetings monthly to align execution strategies across development, clinical work, marketing, production and distribution. Lim said Efe’s Phase 3 cardiovascular outcomes trial showed results indicating a reduced risk of major adverse cardiovascular events. She said the drug has strong protective effects for cardiovascular and kidney disease compared with other drugs in the same class currently on the market. Hwang said the company must now shift to detailed commercial preparation. “It feels like a torchbearer has just entered the main Olympic stadium,” he said, adding that Hanmi should create results “beyond sales.” He said he is confident the drug can be developed into a “premium, Korea-style obesity treatment” and pledged to grow Efe into a new engine of innovation-led growth. Daewoong Pharmaceutical wins Indonesian approval for GERD drug Fexuclu Daewoong Pharmaceutical said its self-developed gastroesophageal reflux disease treatment Fexuclu has received marketing authorization in Indonesia, as the company expands its push into Southeast Asia. The drug has now been approved in 16 countries, including South Korea, Indonesia, China, Mexico and India, and has been launched in six countries, the company said. Daewoong said April 17 that Fexuclu 40 mg, whose active ingredient is fexuprazan, was approved in Indonesia for the treatment of erosive GERD. The company also said it applied to South Korea’s Ministry of Food and Drug Safety on April 10 for an investigational new drug plan for a multinational Phase 3 trial jointly conducted in South Korea and Indonesia, seeking to expand the drug’s indication to treat gastric ulcers. Indonesia, with a population of 280 million, is the world’s fourth-most populous country and Southeast Asia’s largest economy, the company noted. A company official said a China launch is also approaching and that the Indonesian approval is expected to accelerate Fexuclu’s global expansion. Daewoong CEO Park Sung-soo said the approval in Indonesia, a key market in Southeast Asia, would be an important turning point for the company’s global push. GC Biopharma USA to present IVIG quality and safety data at U.S. conference GC Green Cross said its U.S. subsidiary, GC Biopharma USA, will present research evaluating the quality and safety of intravenous immunoglobulin products at an international conference in Denver, Colorado, running April 18-22 local time. The company said the study compared protein size and particle forms in commercially available IVIG products to assess the degree of aggregation. IVIG is widely used to treat immune disorders, and as use has increased, the importance of quality and safety has grown, it said. Protein aggregation can affect drug safety and adverse reactions during administration, making control of aggregation during manufacturing a key quality factor, the company said. The study compared five products, including GC Green Cross’ ALYGLO. The analysis found ALYGLO had lower levels of excessively aggregated proteins (multimers) and damaged protein fragments than competing products, while maintaining relatively higher levels of monomers and dimers, which are considered normal functional structures, the company said. A GC Green Cross official said the company will continue working to provide safer, more reliable treatment options for patients. Lunit to supply integrated breast cancer AI diagnostics to Lexington Clinic in the U.S. Medical AI company Lunit said it has supplied an integrated breast cancer AI diagnostic solution to Lexington Clinic in the United States, as it accelerates expansion in the Americas and aims to broaden its presence in the global breast screening market. Lunit said April 17 that Lexington Clinic adopted its mammography AI image analysis software, Lunit INSIGHT MMG, and its 3D mammography AI solution, Lunit INSIGHT DBT, to build an AI-based breast cancer diagnostic system. The clinic also introduced solutions from Lunit International, formerly Volpara, covering image quality optimization, breast density assessment and patient follow-up management. That will allow the full breast cancer diagnostic workflow to be operated on Lunit’s platform, the company said. Lunit said the deal means that about a year after integrating Lunit and Lunit International products, it has supplied the combined solution to more than 330 medical institutions across the Americas, supporting about 1 million mammography screenings annually. CEO Seo Beom-seok said supplying an end-to-end integrated solution to a large U.S. medical group and expanding to more than 330 sites reflects the combination of Lunit’s AI technology and Lunit International’s market capabilities. He said the company will continue to expand its influence beyond the Americas into the global breast cancer screening market.* This article has been translated by AI. 2026-04-17 14:51:00

Ferry service along Han River tops 100,000 riders since full resumption last month SEOUL, April 17 (AJP) - More than 100,000 people have taken ferries along the Han River in less than two months since the service resumed full operations early last month, the Seoul Metropolitan Government said on Friday. The water ferry service had been halted on some routes shortly after its bombastic launch in September last year due to a series of technical glitches and other problems, and then fully resumed on March 1 after being partially suspended for about 100 days. The number of riders is growing far faster than in the service's early days, when it took about six months to reach 100,000, bringing the cumulative total to more than 200,000. In a recent survey of passengers, which allowed multiple answers, about 96 percent said they were satisfied, according to the city government. About 94 percent said they would recommend the service to others, and 89 percent said they would ride again. "The quick rise in the number of passengers shows the possibility that the service can be used as one of the transportation options," said Park Jin-young, a city official. "We will keep improving the service and offer more connected services so that both residents and tourists can use it more conveniently," he added. 2026-04-17 14:41:05

Seoul flags rising downside risks as Middle East war drags on SEOUL, April 17 (AJP) -South Korea’s government on Friday highlighted increased "downside risks" for the economy as the prolonged Middle East conflict fuels inflationary expectation and dampens domestic sentiment. In its monthly “Green Book” report for April, the Ministry of Economy and Finance said “downside risks to the economy are increasing” due to heightened geopolitical uncertainty stemming from the war — toned up from last month’s milder phrasing of “concerns over rising downside risks.” The shift reflects growing concern that the impact of the conflict is beginning to filter through the broader economy. “Exports, led by semiconductors, have remained strong and domestic demand had been on a recovery trend, but the Middle East war is weighing on consumer and business sentiment, while higher global oil prices are adding to inflation and the burden on livelihoods,” the ministry said. Recent data points show early signs of strain. Consumer prices rose 2.2 percent in March from a year earlier, accelerating from 2.0 percent the previous month, driven largely by a sharp rebound in energy costs. Petroleum prices surged 9.9 percent on-year, reversing a decline in February as global oil prices spiked amid the conflict. Sentiment indicators also weakened. The consumer sentiment index fell 5.1 points to 107.0 in March, while business sentiment readings edged lower, pointing to growing caution among households and firms. Consumption data painted a mixed picture. Card spending at discount stores dropped sharply, while growth in department store sales slowed, suggesting softening discretionary demand. Still, overall card spending rose at the fastest pace since September, and domestic car sales rebounded, indicating that a broader consumption downturn has yet to take hold. “We see pockets of weakness across sectors, but it is difficult to conclude that overall consumption has turned down,” a ministry official said. External demand continues to provide a key buffer. Exports jumped 49.2 percent in March from a year earlier, with semiconductors and computers leading gains, underscoring the resilience of Korea’s tech-driven trade sector despite external shocks. The labor market also remained relatively stable, with employment rising by 206,000 in March, marking a second consecutive month of gains above 200,000. Looking ahead, the ministry warned that global conditions remain fragile. “Volatility in international financial markets and energy prices has increased due to the Middle East conflict and tariff measures by major economies, raising concerns over slower trade and growth,” it said. The government said it will maintain an emergency economic response system, closely monitor developments and push for swift execution of supplementary budget measures to cushion the fallout. 2026-04-17 14:05:35

Five Years On, 45RPM’s Lee Hyun-bae Remembered After 2021 Death Hip-hop group 45RPM member Lee Hyun-bae, the younger brother of DJ DOC’s Lee Ha-neul, has been dead for five years. Lee was found dead April 17, 2021, at his home in Seogwipo on Jeju Island. An internet installation worker discovered him collapsed in the living room and reported it, but Lee was pronounced dead. An autopsy was conducted to determine the cause of death, and a specialist’s opinion said it was believed to be related to a heart abnormality. After news of Lee’s death, a dispute also emerged between DJ DOC members Lee Ha-neul and Kim Chang-ryeol. When Kim posted a tribute on social media, Lee Ha-neul responded sharply, saying, “You killed him.” He claimed they had planned to run a pension business together, but that Kim refused to pay interior construction costs, leaving Lee Hyun-bae in financial hardship. Lee Ha-neul also said his brother was injured in an accident while working a delivery part-time job but could not afford medical tests and later died. Kim said, “As this is a confusing and heartbreaking time after the sudden news, I respectfully ask that people refrain from speculation.” He added, “It is true there were difficult circumstances, but with the grief of sending him off still fresh, it is a delicate situation to bring up matters from long ago.” In 2024, Lee Ha-neul shared an update saying he had reconciled with Kim, and the conflict appeared to have eased. Lee Hyun-bae debuted in 2005 as part of 45RPM. He finished runner-up on Mnet’s “Show Me the Money Season 1” in 2012 and was known for songs including “Joyful Life” from the “No Manners” original soundtrack and “Rigi-dong.” * This article has been translated by AI. 2026-04-17 14:03:17

K-pop girl group KATSEYE to release new album this summer SEOUL, April 17 (AJP) - Los Angeles-based K-pop girl group KATSEYE will release their new album this summer. According to their agencies HYBE and Geffen Records, their third EP "Wild" is slated for release on Aug. 14, more than a year after their previous mini album "Beautiful Chaos" was released in June last year. KATSEYE, consisting of multinational members, have recently gained traction through appearances at major music festivals like the Coachella Festival in California and other activities to promote their songs. The sextet also topped global music platform Spotify's rankings for most listeners, calculated on a 28-day basis, with 31.3 million as of Friday, followed by another K-pop act BLACKPINK's 24.78 million. That appeared to be attributed to their latest single, "Pinky Up," which has ranked highly on major music charts overseas including Amazon Music, Apple Music and Spotify, within just a few days after its release last Thursday. Formed through the 2023 reality singing competition show "Dream Academy" in collaboration with HYBE and Geffen Records, the six members - Daniela, Lara, Manon, Megan, Sophia and Yoonchae - have been groomed as a K-pop girl group targeting global audiences. 2026-04-17 14:00:47

Korean tanker safely clears Red Sea in first Hormuz workaround SEOUL, April 17 (AJP) -A South Korea-linked crude carrier has safely exited the Red Sea after loading oil in Saudi Arabia despite Iranian military's threat of attacks on the corridor along the Saudi coast in protest to U.S. naval blockade of Tehran ports. The Korean sea flag carrier makes the first confirmed shipment to reach Korean-bound routes via a Hormuz bypass since the Gulf conflict disrupted one of the world’s most critical energy corridors, according to the government. The Ministry of Oceans and Fisheries on Friday said the vessel departed from Yanbu on Saudi Arabia’s Red Sea coast and navigated the high-risk waterway without incident amid ceasefire between the U.S. and Iran and separately between Israel and Lebanon. Iran has threatened to block the Red Sea trade route in retaliation to the U.S. naval blockade of the Strait of Hormuz. According to Iranian state media, the commander of Iran’s joint military command said Iran would “act with strength to defend its national sovereignty and its interests”, warning it would completely block exports and imports across the Persian Gulf region, the Sea of Oman and the Red Sea. The Red Sea — increasingly volatile since the 2023 Israel–Hamas war — has seen at least 79 reported vessel attacks linked to Yemen’s Iran-backed Houthi forces, making it a route long discouraged for commercial shipping. Yet with Hormuz partially shut and roughly a fifth of global oil flows disrupted, Seoul has been forced to test options once deemed too dangerous. The ministry said it maintained 24-hour real-time monitoring of the vessel, providing navigation intelligence and running constant communication channels with the ship and operator throughout the transit. The operation follows high-level policy coordination. At an emergency economic review meeting on April 6, the government formally discussed using the Red Sea corridor as a contingency route, pairing supply diversification with enhanced maritime safety oversight. Some 26 South Korea-linked vessels — including crude tankers, LNG carriers and bulk ships — remain stranded or delayed around the Persian Gulf, reflecting the bottleneck created by the prolonged standoff. For an economy that routes around 70 percent of its crude imports through Hormuz, the stakes remain acute. Saudi Arabia accounted for 33.6 percent of Korea’s crude imports in 2025, followed by the United States (17 percent), the United Arab Emirates (11.4 percent), Iraq (10.4 percent) and Kuwait (8.5 percent), underscoring the country’s structural dependence on Middle Eastern supply lines. “The government will continue to prioritize the safety of our vessels and crews while working with relevant agencies and industry to ensure stable crude transport from the Middle East,” Oceans Minister Hwang Jong-woo said. Tensions have showed sign of easing with U.S. President Donald Trump saying the war was "very close to over" with the second round of talks being readied to take place over the weekend in Pakistan. Separately, Washington is arranging the first high-level direct peace talks between Israel and Lebanon for the first time in decades. 2026-04-17 13:42:19

Samsung Electronics unveils AI-driven 'Home Companion' appliances for North American market SEOUL, April 17 (AJP) - Samsung Electronics showcased its latest vision for an artificial intelligence-integrated lifestyle during its "The Brief New York" technical seminar held from Thursday to Friday. The South Korean tech giant introduced its "Home Companion" scenario, a suite of appliance-based solutions designed to reduce household labor and enhance quality of life through advanced AI recognition technologies tailored specifically for North American consumer habits. Central to this new ecosystem is the 2026 Bespoke AI Family Hub refrigerator, which utilizes "AI Vision" technology. The system employs internal cameras to identify food items and even recognize container labels in real time, automatically updating a digital "Food List" to streamline inventory management and prevent unnecessary duplicate purchases. This seamless connectivity extends to the Bespoke AI Oven, where "AI Pro Cooking" monitors the color and condition of ingredients to suggest optimal settings and alert users via mobile notifications to prevent food from burning. The company also highlighted advancements in floor care with the Bespoke AI Steam Ultra robot vacuum, which integrates RGB cameras and infrared LEDs to distinguish between different types of household messes, including transparent liquid spills. Alongside these AI capabilities, Samsung introduced region-specific hardware enhancements such as "Space Max" for expanded internal storage and "Zero Clearance" hinges for flush, built-in installations. "We aim to aggressively target the North American market by evolving our AI appliances into 'home companions' that truly understand and assist our customers' lifestyles," said Moon Jong-seung, Vice President of Samsung’s DA Business. "Our goal is to provide practical convenience in everyday life through advanced recognition technologies that seamlessly connect shopping, cooking, and cleaning." 2026-04-17 13:38:50

Hormuz crisis fuels air and sea charges, adding to input pressure in Korea SEOUL, April 17 (AJP) - South Korean shipping lines are introducing emergency bunker surcharges as the prolonged conflict between Iran and the U.S.-Israeli coalition drives up fuel costs, adding to input pressures and, ultimately, consumer prices. Sinokor Merchant Marine, one of Korea's largest container operators, said it will impose an emergency bunker surcharge of $100 per 20-foot equivalent unit (TEU) on export cargo bound for Southeast Asia, effective this month. Industry officials said other major container carriers are preparing similar measures, with surcharges ranging from $150 to $200 per TEU. The moves come as global shipping lines including Maersk and OOCL roll out their own emergency surcharges in response to the Middle East crisis. The latest fees mark another layer of cost escalation stemming from the 2026 Strait of Hormuz crisis, which began on Feb. 28 when the United States and Israel launched coordinated airstrikes on Iran under Operation Epic Fury. Iran retaliated by restricting passage through the strait, through which about 20 percent of global oil and a similar share of liquefied natural gas shipments normally pass. The disruption has hit marine fuel markets with particular force. Bunker C fuel oil, the heavy fuel that powers most commercial vessels, is typically produced from the residue of heavier crude grades. Middle Eastern crudes, generally heavier and higher in sulfur content than most benchmark grades, have long been a key feedstock for such fuels. With Hormuz shipments curtailed, bunker prices have climbed sharply, eroding the margin cushion carriers had relied on through the first quarter. Vessels stranded inside the strait are compounding the strain on ocean freight. A total of 26 Korean-flagged ships remain stuck in the Strait of Hormuz, 10 of them belonging to eight small and mid-sized carriers, according to data from the Korea Shipowners' Association. Those carriers are estimated to be losing about 580 million won ($392,086) a day from halted operations, higher fuel costs, war-risk insurance premiums and crew hazard pay. The pressure is spreading into air logistics, where jet fuel costs are tracking the same Middle East supply disruption through the Singapore benchmark widely used across Asia. Singapore Mean of Platts jet fuel averaged 511.21 cents per gallon for May, placing it in the top tier of Korea's 33-step fuel surcharge system, according to the aviation industry. It is the highest reading since the surcharge framework was introduced. Korean Air set its May international fuel surcharge at up to 150,000 won ($101.40) per round trip, depending on distance. The top-end charge is roughly five times the January level. With both sea and air freight costs rising in tandem, Korean exporters face the prospect of higher logistics bills feeding into consumer prices if the Hormuz disruption stretches further into the second quarter, industry officials said. According to preliminary export and import price data for March released by the Bank of Korea on Wednesday, import prices in won terms jumped 16.1 percent from the previous month, the steepest increase since a 17.8 percent surge in January 1998. From a year earlier, they rose 18.4 percent. Jet fuel import prices soared 67.1 percent quarter on quarter and 81.8 percent year on year. Import prices for raw materials jumped 40.2 percent from the previous month and 40.0 percent from a year earlier. Coal and petroleum product import prices rose 37.4 percent month on month and 31.3 percent year on year. Consumer prices rose 2.2 percent in March from a year earlier, still within the target range, but the Bank of Korea has warned that annual inflation could approach 3 percent if the war drags on. 2026-04-17 12:08:07