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  • POSCO Labor Negotiations Fail, 120-Hour Partial Strike Set to Begin
    POSCO Labor Negotiations Fail, 120-Hour Partial Strike Set to Begin POSCO and its labor union resumed wage negotiations on September 15 but failed to narrow their differences, leading to a halt in talks. The union plans to initiate a 120-hour partial strike starting September 16 due to the breakdown in negotiations. According to both parties, negotiations took place for about two hours starting at 2 p.m. at the company's headquarters in Pohang, but they could not reach an agreement on wage increases. Neither side presented a revised proposal from their previous demands. In the last round of talks on September 3, the union requested a 7.1% increase in base salary, a 600% incentive bonus, 50 shares of employee stock ownership, and a 200% holiday bonus. In contrast, the company offered a 2.0% increase in base salary, a 3.5 million won incentive bonus, a 500,000 won local love gift certificate, and an expansion of the range for longevity celebration bonuses. As a result of the failed negotiations, the union will begin the 120-hour partial strike at 7 a.m. on September 16. This will be the second strike action following the first partial strike that took place from September 9 to 11. The union has not disclosed the specific processes or the number of participating members for the second partial strike but plans to increase participation compared to the first strike. The targeted facilities for the strike include the No. 2 Hot Strip Mill at the Pohang Steelworks and the No. 4 Hot Strip Mill at the Gwangyang Steelworks. A union official stated, "We will wait until midnight to continue discussions between the negotiating teams. If we cannot reach an agreement, we will proceed with the second partial strike as scheduled at 7 a.m. on the 16th." A POSCO representative said, "The company will listen to the union's demands and communicate transparently while striving for mutual growth and a prompt resolution of the wage negotiations," but added that they would respond strictly to any violations of laws or regulations. 2026-09-15 17:32:00
  • Jung Se-hyun: Trump Would Meet Kim Jong-un in Pyongyang
    Jung Se-hyun: Trump Would Meet Kim Jong-un in Pyongyang Jung Se-hyun, a former Minister of Unification, stated that President Lee Jae-myung should present a phased negotiation plan during the upcoming UN General Assembly to facilitate the resumption of dialogue with North Korea. He emphasized the need for specific exchange conditions linking North Korea's nuclear freeze, the establishment of a liaison office, and partial sanctions relief.In a keynote speech at a conference titled 'Prospects for the 2026 North Korea-U.S. Summit and the Journey Towards Peace on the Korean Peninsula' held at the Korea Institute for National Unification in Seocho-gu, Seoul, Jung said, "President Lee must create a concrete plan to implement the agreements made during the 2018 Singapore North Korea-U.S. summit."He suggested that the establishment of a North Korea-U.S. liaison office could be contingent upon a nuclear freeze, or that some UN sanctions could be eased in conjunction with the initiation of a nuclear freeze. Jung urged that President Lee should present such negotiation proposals to U.S. President Donald Trump at the UN General Assembly in New York later this month.Jung also proposed the formation of a multilateral consultative body to discuss a peace regime on the Korean Peninsula. He recommended a four-party meeting involving South Korea, North Korea, the U.S., and China at the UN General Assembly, which could later expand to a six-party meeting including Russia and Japan to address issues related to nuclear deterrence and nuclear freeze and reduction.As for the location of the North Korea-U.S. summit, Jung mentioned Pyongyang. He noted that in the past three meetings, North Korean leader Kim Jong-un traveled abroad, suggesting that this time, it would be necessary for President Trump to visit North Korea.Jung stated, "If President Trump goes to Pyongyang, Kim would be willing to meet even with weaker concessions," and raised the possibility of a meeting in Pyongyang around mid-October, before the U.S. midterm elections. He did not rule out the possibility of President Trump visiting the Wonsan Kalma tourist area.* This article has been translated by AI. 2026-09-15 17:32:00
  • Over 5,000 minors hold stocks worth more than 100 million won
    Over 5,000 minors hold stocks worth more than 100 million won SEOUL, September 15 (AJP) - The number of minors in South Korea holding at least 100 million won (US$73,600) worth of listed stocks nearly doubled last year, even as the overall number of underage shareholders edged down. According to data from the Korea Securities Depository obtained by Rep. Park Sung-hoon of the ruling People Power Party (PPP), 5,400 minors held stocks worth 100 million won or more as of the end of last year, up 92.9 percent from 2,800 a year earlier. The number of those holding stocks worth between 50 million won and 100 million won also jumped 127.3 percent to 10,000 from 4,400 over the same period. Despite the total number of minors holding stocks falling slightly to 769,600 from 773,400, the estimated value of their stock holdings surged 57.2 percent to 7.31 trillion won from 4.65 trillion won in 2024. Among children under 10, the number of stockholders dropped by more than 20,000 to 232,100, while the value of their holdings increased 47 percent to 1.84 trillion won from 1.25 trillion won. The figures are based on stock prices at the close of the final trading day of each year, so the sharp rise in the value of their holdings can be largely attributed to the country's stock market bull run last year. They bought Samsung Electronics' stocks the most, with purchases totaling 51.5 billion won, followed by SK hynix at 34.9 billion won and Hyundai Motor at 10.9 billion won, according to a separate report released by a major brokerage last week. AJP Takeaways - Some 5,400 South Korean minors held stocks worth at least 100 million won ($73,600) at the end of last year, up 92.9 percent from 2,800 a year earlier. - The value of stocks held by minors rose 57.2 percent to 7.31 trillion won, despite the overall number of underage shareholders falling slightly to 769,600. - Samsung Electronics was the most-purchased stock among minors, with purchases totaling 51.5 billion won, followed by SK hynix at 34.9 billion won and Hyundai Motor at 10.9 billion won. 2026-09-15 17:31:26
  • Final Decision on 68 Questions from September Mock Exam for 2027 College Entrance Exam
    Final Decision on 68 Questions from September Mock Exam for 2027 College Entrance Exam In the September mock exam for the 2027 College Scholastic Ability Test (CSAT), all 68 questions that were challenged have been deemed free of issues regarding the questions and answers. Consequently, the preliminary answers remain unchanged and have been finalized.The Korea Institute for Curriculum and Evaluation announced the results of the review of the mock exam questions on September 15, confirming the final answers.After releasing the preliminary answers on September 2, the institute accepted challenges through a dedicated online board until 6 p.m. on September 5. A total of 154 challenges were submitted during this period.Excluding opinions unrelated to the questions and answers, as well as cancellations and duplicate submissions, the actual review focused on 68 questions, totaling 130 cases.By subject area, the largest number of challenges came from social studies, with 20 questions. This was followed by English with 17 questions, Korean with 14, vocational studies with 6, science with 5, and a total of 4 from the second foreign language and classical Chinese, and 2 from mathematics. In English, questions 19 to 23 were among the 17 under review, while in Korean, 7 common subject questions, 1 from speech and writing, and 6 from language and media were included.In social studies, the review included 5 questions from social and cultural studies, 4 each from ethics, philosophy, and political and legal studies, 2 from East Asian history, and 1 from Korean geography.The institute concluded that all 68 questions were free of issues after a review by an external expert committee that did not participate in the question formulation, followed by a final review by the challenge committee. The results of the review and the responses for each question have been made public on the institute's website.Meanwhile, the 2027 CSAT is scheduled to take place on November 19.* This article has been translated by AI. 2026-09-15 17:28:00
  • Lee Hyung-il Plans Flexible Application of Housing Residency Rules
    Lee Hyung-il Plans Flexible Application of Housing Residency Rules Lee Hyung-il, the nominee for Deputy Prime Minister and Minister of Finance, stated that he plans to consider the opinions of the National Assembly and specific cases regarding the scope of 'unavoidable reasons' for recognizing periods when individuals did not actually reside in their homes as part of the residency period.During a confirmation hearing at the National Assembly's Finance and Economy Committee on September 15, Lee expressed his intention to discuss this matter in depth alongside the proposed tax law revisions.While the scope of recognized reasons can be adjusted through amendments to enforcement decrees without a National Assembly vote, Lee's comments suggest a willingness to gather diverse opinions through legislative discussions and reflect them in the system.Last month, the government announced a tax law revision that would recognize periods of non-residence due to unavoidable circumstances as part of the residency period. The reasons provided included schooling, job changes or relocations, illness, transferring schools, overseas stays, and caring for parents. However, there have been criticisms that these listed reasons do not adequately capture the variety of real-life situations.Lee identified the goals of the real estate tax reform as establishing a residency-centered housing market, ensuring fair and equitable taxation, and creating a sustainable tax system. In response to a question about whether the government's reform intentions were effectively communicated to the public and the market, he acknowledged that the explanations were somewhat lacking.Regarding the expected increase in tax revenue from this reform, Lee indicated that he anticipates it to be approximately 3.4 trillion won over the next five years.* This article has been translated by AI. 2026-09-15 17:28:00
  • K-fashion next big K-thing in Japan after K-pop
    K-fashion next big K-thing in Japan after K-pop SEOUL, September 15 (AJP) - Takuya Enomoto, a 32-year-old pharmacist in Tokyo, watched his girlfriend's infatuation with South Korea move from SEVENTEEN on her playlist to her clothing collection. She first became a fan of the K-pop group, particularly member Hoshi, before branching out to other Korean acts and then Korean dramas, he said. Following K-pop artists on Instagram brought still more Korean content into her feed. "I think the algorithm exposed her to more and more Korean content, and from there she started wanting to actually visit Korea, experience the atmosphere, try Korean food and go shopping," Enomoto told AJP. Her love for K-things has now extended to what she wears. Enomoto said his girlfriend regularly shops through Korean fashion platforms Musinsa and Amood alongside Amazon, Rakuten and Japanese fashion platform ZOZOTOWN. "She often uses the Musinsa app and an app called Amood," he said. "She says Amood is a little easier to use, and she loves the clothing options provided by the platform." Amood is a Japan-focused fashion shopping platform operated by Korean style-commerce company Ably. Enomoto said his girlfriend particularly likes the fit and look of clothes she buys through Amood. She and several friends are planning a trip to Seoul this winter. "I think Korean culture has reached pretty deeply into everyday life in Japan," he said. A 2026 survey by Rakuten Rakuma found South Korea was the foreign country Japanese women in their teens through their 40s most often named as their biggest fashion reference. Korea was chosen by 61.5 percent of teenage women, 64.7 percent of women in their 20s, 45.2 percent of those in their 30s and 35.2 percent of those in their 40s. Among women in their teens and 20s, Korea has ranked first in all 10 editions of the survey since it began in 2016. The survey was not conducted in 2025. The nationwide online poll, conducted from July 2 to 6, surveyed 1,200 Japanese respondents aged 15 to 86. Among women in their 50s, France ranked first at 24.7 percent, narrowly ahead of Korea and the United States at 23.5 percent each. France also ranked first among women aged 60 and older at 35.2 percent. Japanese men chose the United States as their top foreign fashion reference across every age group. The divide suggests Korea now occupies among younger Japanese women some of the aspirational fashion ground that France continues to hold among older generations. The appeal is not simply K-pop. Among respondents who chose Korea, 50 percent said Korean fashion was affordable and easy to buy. Another 27.7 percent cited an interest in Korean artists, celebrities or other public figures. How they discover Korean fashion also sets it apart. Among the 260 respondents who selected Korea, 51.5 percent said they obtained fashion information from Instagram, followed by YouTube at 26.5 percent and TikTok at 23.5 percent. For respondents who chose France, Instagram also ranked first at 28.9 percent, but magazines remained second at 24.6 percent. The contrast points to how Korean fashion is spreading through social-media feeds and video platforms rather than primarily through traditional fashion media. Academic research points in the same direction. A 2024 study by researchers at Dankook University surveyed Japanese Millennial and Gen Z women who had been exposed to Korean cultural content. The researchers found that K-pop, K-beauty and Korean influencers were all significantly associated with stronger preferences for K-fashion. When they examined actual purchase intention, however, only K-beauty and Korean influencers showed a significant effect, while K-pop did not. The findings suggest K-pop may open the door to Korean fashion without necessarily being what ultimately persuades consumers to buy. Another study published this year examined an even broader shift in how young Japanese women perceive Korean style. Ayumi Inouchi, a researcher at Arizona State University, analyzed the Japanese term kankokuppo, roughly translated as "Koreaish," in a study published in Signs and Society. The term describes an aesthetic associated not only with clothing but also makeup, hairstyles, cafes, interiors, selfies and the way photos are styled for social media. Inouchi's fieldwork found young Japanese women repeatedly describing Korea as stylish, trendy and sophisticated. Korea, in that sense, can function as an aesthetic reference even when consumers are not following a particular Korean brand or celebrity. The same demographic showing the strongest interest in Korean fashion also makes up a major part of Japan's travel market to South Korea. About 3.65 million Japanese visited South Korea in 2025, up 13.3 percent from the previous year and the highest annual total on record. Women in their 20s accounted for about 878,000 visitors, or roughly one in four Japanese arrivals, making them the largest age-and-gender group. Fashion cannot be isolated as the reason for those trips. Food, K-pop, dramas, beauty and South Korea's proximity to Japan all play a role. Shopping, however, is clearly part of the experience. According to South Korea's 2024 Foreign Tourist Survey, 71.6 percent of Japanese visitors cited shopping among the activities they considered when planning their trip. Half said they purchased clothing in Korea, while 71.9 percent bought perfume or cosmetics and 76.4 percent bought food products. Kwon Soo-hyun, a 31-year-old office worker in Seoul, said the increase in Japanese visitors has become noticeable around major shopping districts. "You definitely see a lot of Japanese visitors these days," Kwon told AJP. "People first encounter Korea through dramas and music, and that can lead them to actually visit." Japan's fashion industry is responding to the same demand. ZOZO, operator of ZOZOTOWN, opened a dedicated K-FASHION section in November 2025, creating a separate shopping space for Korean labels. The company said it planned to offer more than 1,500 Korean brands and around 300,000 products by the end of the year. Musinsa has also reported rapid growth in Japan. The Korean fashion platform said annual transaction value through its Global Store in Japan rose about 2.4 times in 2025 from a year earlier. Monthly transaction value surpassed 1.1 billion yen in October, when a 24-day Musinsa pop-up in Tokyo's Shibuya district drew more than 82,000 visitors. The figures are company-provided and do not represent the broader Japanese fashion market. But they show retailers building distribution and shopping infrastructure around demand that increasingly extends beyond K-pop merchandise or celebrity-driven purchases. For years, the Korean Wave in Japan was most visible in what consumers watched and listened to. For a younger generation, it is increasingly showing up in what they wear — and where they shop. AJP Takeaways - South Korea is the top fashion reference for Japanese women in their teens through 40s, with support strongest among women in their 20s at 64.7 percent, according to Rakuten Rakuma. - K-fashion's appeal goes beyond K-pop: 50 percent of respondents cited affordability and ease of purchase, while 27.7 percent pointed to Korean celebrities and artists. - Social media is the main discovery channel, led by Instagram at 51.5 percent, helping turn Korean culture exposure into fashion interest and app-based shopping. 2026-09-15 17:27:22
  • Shinhan and Hana Banks Compete for Incheon City Treasury
    Shinhan and Hana Banks Compete for Incheon City Treasury The competition between Shinhan Bank and Hana Bank for the Incheon City Treasury, valued at 15 trillion won, is reaching its climax. Shinhan, which has held the treasury for nearly 20 years, is leveraging its extensive operational experience to maintain its position. Meanwhile, Hana Bank is expected to strengthen its local ties following the relocation of Hana Financial Group's headquarters to Cheongna, aiming to reclaim the treasury. According to Incheon City, Shinhan and Hana will conduct presentations and a Q&A session on September 17 to determine the new treasury holder. Each bank will have approximately 20 minutes for their presentations and questions. While Incheon City will not announce the results immediately, the final scores will be communicated to each bank after deliberation, making the winner apparent on the day. As of the day before the presentations, it was still unclear who would represent each bank. Some in the financial sector speculate that Shinhan Bank CEO Jeong Sang-hyeok and Hana Bank CEO Lee Ho-sung may take the stage themselves, indicating the significance both banks place on this competition. However, a financial industry source noted, "Incheon City has limited the number of attendees for the treasury selection presentations, so it seems likely that the practical staff responsible for local institutional sales will lead the presentations and Q&A sessions." The reason banks are investing effort in this treasury competition is the opportunity to secure substantial public funds reliably. Additionally, they can expand their business through financial transactions related to local government employee salary transfers and dealings with public institutions and affiliated agencies. Shinhan Bank, which has managed the Incheon City Treasury since 2007, plans to emphasize its long-standing operational expertise and stability. Notably, during the administrative restructuring of Incheon City in July, which saw the establishment of four new district offices, Shinhan successfully transitioned its treasury services without service interruptions or payment errors by deploying IT specialists. A Shinhan Bank representative stated, "We will highlight our public finance capabilities and practical experience." As the challenger, Hana Bank is expected to showcase its strengthened local connections due to the relocation of Hana Financial Group's headquarters. The evaluation criteria include contributions to the community and collaborative projects with the city, which may favor Hana following its move to Cheongna. Last month, Hana Bank also signed a financial agreement with Incheon City worth 350 billion won, which includes providing 150 billion won in guarantees for outstanding technology companies in AI, bio, cultural content, and energy sectors, as well as establishing a 200 billion won 'Incheon Unicorn Fund.' However, questions have arisen regarding the appropriateness of Incheon City entering into a large-scale agreement with a specific financial group just before the treasury selection. In response, an Incheon City official clarified, "Community contributions will be evaluated based on actual donations or support provided to the Incheon area up to June of this year, not on future commitments," adding that the recent agreement is unrelated to the treasury evaluation.* This article has been translated by AI. 2026-09-15 17:24:10
  • Japan Prepares for Extreme Weather Ahead of Asian Games
    Japan Prepares for Extreme Weather Ahead of Asian Games As the Aichi and Nagoya Asian Games approach, set to begin on September 19, Japan has entered a state of emergency preparedness for heavy rain, extreme heat, typhoons, and even major earthquakes and tsunamis. Just ten days before the opening, record rainfall led to the evacuation of approximately 400 international athletes and staff who had already arrived. The organizing committee has activated a 24-hour weather monitoring system, deploying observation equipment and experts at each venue.According to the Nihon Keizai Shimbun (Nikkei) on September 15, the event will take place from September 19 to October 4, primarily in Aichi Prefecture. This marks the first time Japan has hosted the Asian Games since the 1994 Hiroshima Games, with over 15,000 athletes and officials from 45 countries and regions competing in 43 sports, including athletics, swimming, soccer, baseball, and esports.A notable feature of this event is the distribution of venues and accommodations. Competitions will be held across five regions, including Aichi, Tokyo, and Shizuoka, with events taking place in five districts within Aichi Prefecture, such as Nagoya and Chita. Instead of a large athlete village, accommodations are spread across container facilities, cruise ships, and hotels. This structure allows for rapid response in case of heavy rain or earthquakes in any one area.The risks became apparent even before the event began. On September 8, Nagoya experienced a line of rain clouds that caused record rainfall, prompting evacuation orders around the Nagoya Port Garden Pier, where some athletes were staying in container accommodations. The organizing committee moved the 400 international athletes and staff to safety, with no reported injuries.During the evacuation, the weather information center established by the organizing committee was activated. This center, set up last month, consists of staff from the Japan Meteorological Agency and personnel from private weather companies, collecting weather data for each venue around the clock. At nine venues, including the surfing site in Tahara and the triathlon venue in Gamagori, weather observation equipment approximately three meters high has been installed. This equipment collects real-time data on wind direction, wind speed, rainfall every ten minutes, and temperature, while also calculating the Wet Bulb Globe Temperature (WBGT) to assess heat-related illness risks in areas with high heat concerns.Weather experts will be stationed at seven venues, including surfing, triathlon, yachting, and golf, starting the day before events to help determine whether to postpone or adjust start times based on observation data.Japan's focus on weather preparedness stems from recent international sporting events where typhoons and extreme heat led to cancellations and athlete withdrawals. During the 2019 Rugby World Cup held in Japan, three matches were canceled due to a typhoon. Last September, the World Athletics Championships in Tokyo moved the start time for the marathon and race walking events to 7:30 a.m. to avoid the heat, but many athletes still withdrew mid-race.The situation remains concerning this year. According to the Japan Meteorological Agency, 17 typhoons occurred from June to August, significantly exceeding the average of 11 and marking the third-highest number on record. There is a possibility that a typhoon could approach the Japanese archipelago during the event. Current forecasts indicate that Typhoon Dujuan, the 25th of the season, is expected to pass through Japan next week. Additionally, temperatures in the Tokai region during September and October are expected to be above average, with days exceeding 30 degrees Celsius and potentially reaching over 35 degrees.Earthquakes and tsunamis also pose significant risks. According to predictions for the Nankai Trough earthquake in Nagoya, a tsunami of up to 3.6 meters could reach the Garden Pier, where athletes are housed, in the event of an underwater quake. The organizing committee has plans to evacuate athletes to nearby high-rise buildings and then transport them inland by bus. Designated evacuation sites are separate from those for local residents. To prepare foreign athletes who have never experienced an earthquake, training vehicles will simulate actual tremors.South Korea is sending over 1,000 athletes across 41 sports. The South Korean government established a joint preparation team led by the Ministry of Culture, Sports and Tourism in July to coordinate support and response systems for the distributed hosting. Ensuring the safety of the event amid unpredictable weather has become a major challenge as the opening approaches.* This article has been translated by AI. 2026-09-15 17:24:00
  • U.S. 10-Year Treasury Yield Surges Past 5%, Highest Since 2007
    U.S. 10-Year Treasury Yield Surges Past 5%, Highest Since 2007 The yield on the U.S. 10-year Treasury note has surged past 5%, reaching its highest level since 2007. However, rates exceeding this mark were not uncommon 45 years ago.On September 15, the yield on the 10-year Treasury note rose to 5.03% during trading. Concerns over inflation due to a recent spike in international oil prices, expectations of further interest rate hikes by the Federal Reserve, and the burden of U.S. fiscal and Treasury supply are driving long-term rates higher.Historically, a 5% yield is not considered extreme. According to the Federal Reserve Bank of St. Louis (FRED), the average annual yield on the 10-year Treasury note jumped from 11.43% in 1980 to 13.92% in 1981. Although it began to decline afterward, it remained high, recording 13.01% in 1982.This period coincided with aggressive tightening measures by then-Federal Reserve Chairman Paul Volcker, aimed at combating high inflation that had persisted since the 1970s. During this time, the federal funds rate approached 20% by late 1980 and mid-1981, while the average monthly yield on the 10-year note exceeded 15% in the fall of 1981. As inflation pressures eased, long-term rates began to decline.Over the long term, interest rates have shown a downward trend. The average yield on the 10-year note fell to 8.55% in 1990 and 6.03% in 2000. Following the 2008 financial crisis, the Federal Reserve's zero-interest-rate policy and large-scale asset purchases drove the yield down to 1.80% by 2012. The average yield dropped to 0.89% in 2020 amid the COVID-19 pandemic, with some analysts suggesting that the Fed's long-term bond purchases contributed to this decline.Since the pandemic, the landscape has changed. Supply chain disruptions, soaring prices, and the Fed's tightening measures have led to an increase in the average yield on the 10-year note, which rose to 2.95% in 2022, 3.96% in 2023, and is projected to reach 4.21% in 2024, with last year's average at 4.29%. Recently, high oil prices have reignited concerns over inflation and interest rate hikes, pushing the yield above 5%.Comparing the interest rates of the 1980s to those of today is complex. Over decades of declining rates and a prolonged period of low interest, the U.S. debt situation has changed significantly.According to FRED, public debt held by the federal government was 24.76% of GDP in the first quarter of 1981, but it has risen to 98.71% in the first quarter of this year. The longer high rates persist, the greater the burden of refinancing maturing Treasury bonds at higher rates.The Congressional Budget Office (CBO) projects that the federal government's net interest payments will reach approximately $1 trillion this year, accounting for 3.3% of GDP, and could rise to $2.1 trillion, or 4.6% of GDP, by 2036. The 10-year yield also impacts borrowing costs across the U.S. economy, including mortgages, auto loans, and corporate bonds.While a 5% yield is not historically unusual, the significant increase in federal debt and the financial market's long-standing familiarity with low rates mean that the implications of this rate today differ markedly from those in the past. 2026-09-15 17:24:00
  • Won falls, Korean bond yields hit multi-year highs as oil surges
    Won falls, Korean bond yields hit multi-year highs as oil surges SEOUL, Sept. 15 (AJP) — The South Korean won weakened and government bond yields climbed to multi-year highs Tuesday as surging oil prices and U.S. Treasury yields fanned inflation and interest-rate concerns. The three-year government bond yield rose 6.6 basis points to 4.091 percent, its highest close since Oct. 26, 2023. The benchmark 10-year yield gained 6.4 basis points to 4.600 percent, the highest since Oct. 21, 2022. The won closed at 1,359.4 won per dollar in Seoul, weakening 12.1 won from Monday's 1,347.3. The dollar index stood around 99.6 at 3:30 p.m. “A renewed move higher in oil would complicate the inflation backdrop, keep yields supported and weigh on risk sentiment,” OCBC strategist Christopher Wong said. Oil prices jumped after Saudi Arabia shut its East-West Pipeline following a drone attack that damaged the route connecting its eastern oil fields with the Red Sea port of Yanbu. The pipeline had been carrying about 4 million barrels of crude a day and has served as a key route bypassing the Strait of Hormuz. Its shutdown threatens flows equivalent to roughly 4 percent of global oil supply. Shipping through Hormuz has already fallen sharply during the Middle East conflict, while renewed instability around the Red Sea and Bab el-Mandeb has added to concerns over oil flows. Brent crude rose to $107.55 a barrel Tuesday, while West Texas Intermediate climbed to $103.27. Eugene Investment & Securities estimated repairs to the Saudi pipeline could take two to six weeks. It said a one-month disruption could add about $10 a barrel to international crude prices and push WTI above $110. The brokerage also said strong spot premiums, backwardation and high refining margins could keep oil above $100 for the time being. TD Securities strategists Ryan McKay and Bart Melek also saw further upside risk to crude, saying longer repairs, reduced pipeline flows or further attacks could tighten the market. Higher U.S. yields added to pressure on Korean financial markets. The benchmark 10-year U.S. Treasury yield reached 5.0266 percent Tuesday, its highest level since 2007, while markets priced in a 93 percent chance of a quarter-point Federal Reserve rate increase this week. South Korea has secured most of its near-term crude needs despite the disruption. Domestic refiners have secured more than 90 percent of the crude needed for September and October based on year-earlier volumes, limiting the immediate risk of a physical shortage. With near-term supplies largely secured, oil prices and global interest rates remain the main risks for Korean government bonds and the won. AJP Takeaways - South Korea's three-year government bond yield rose to 4.091 percent Tuesday, its highest close since October 2023, while the 10-year yield reached 4.600 percent, the highest since October 2022. - The South Korean won weakened 12.1 won to 1,359.4 per dollar as oil prices and U.S. Treasury yields rose, with Brent crude climbing above $107 a barrel. - Eugene Investment & Securities, OCBC and TD Securities saw further upside risk to oil prices, with Eugene estimating that a one-month disruption to Saudi pipeline flows could push WTI above $110. 2026-09-15 17:23:53