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  UAE pledges priority oil supply to Korea amid global supply concerns SEOUL, March 18 (AJP) - The United Arab Emirates (UAE) has pledged to prioritize crude oil supply to South Korea amid global supply uncertainties, Seoul’s presidential office said Wednesday. Presidential Chief of Staff Kang Hoon-sik, who returned earlier in the day from a visit to the UAE as a special envoy of President Lee Jae Myung, told a briefing that Abu Dhabi had assured Seoul it would be given top priority in crude shipments. “The UAE made it clear that no coun March 18, 2026
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  Light drizzles wash away fine dust SEOUL, March 18 (AJP) - Scattered showers fell over Seoul and nearby metropolitan areas on Wednesday. According to the Korea Meteorological Administration (KMA), about 5–10 millimeters of rain fell in the morning and tapered off in the afternoon, helping wash away fine dust that had lingered earlier in the week. Morning temperatures in Seoul hovered around 7.1 degrees Celsius, above the seasonal average, but the wet weather kept them from rising further. Clear skies wi March 18, 2026
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  Asian markets edge up as Strait of Hormuz fears ease SEOUL, March 18 (AJP) - Asian stock markets opened higher Wednesday as concerns over supply chain disruptions involving the Strait of Hormuz eased slightly amid the prolonged Middle East conflict. South Korea's benchmark KOSPI extended its gains from the previous session as improving sentiment toward chipmakers outweighed concerns over volatile oil prices. Market sentiment remained fragile overnight amid rising crude oil prices and the ongoing U.S. Federal Open Market Commi March 18, 2026
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  South Korea to inject over 1 billion in supplementary budget SEOUL, March 18 (AJP) - The government is coming up with a set of measures including a 1.5 trillion won (US$1.01 billion) in supplementary budget to buttress an economy hit by the escalating conflict in the Middle East, which began with U.S.‑led airstrikes on Iran late last month. In an emergency meeting chaired by Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol in Seoul on Wednesday, he pledged the swift implementation of the supplementary budget and o March 18, 2026
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  S. Korean researchers find cellular waste clearing process capable of lifespan expansion SEOUL, March 18 (AJP) - South Korean scientists have discovered that clearing molecular debris from cells can significantly slow the aging process and extend lifespan. Researchers at the Korea Advanced Institute of Science and Technology (KAIST) announced on March 18, 2026, that they identified a specific protein responsible for removing genetic waste that typically builds up as organisms get older. The study focuses on circular RNA, a type of molecule that essentially acts as cel March 18, 2026
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  LG Energy Solution to start producing ESS batteries at Tennessee plant SEOUL, March 18 (AJP) - LG Energy Solution (LGES) will begin producing lithium iron phosphate (LFP) battery cells for energy storage systems at its plant in Spring Hill, Tennessee, the battery maker said on Wednesday. Production will be carried out through LGES' joint venture with General Motors, Ultium Cells, with an investment of about US$70 million to convert part of its existing electric-vehicle battery line for ESS production. Mass production is scheduled to start in the March 18, 2026
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  Korea's Feb job growth led by elderly and service, AI substitution hits entry jobs SEOUL, Mar. 18 (AJP) — South Korea’s labour market showed a deceptive resilience in February, with headline employment rising for the second consecutive month, but the underlying data reveals a deteriorating quality of jobs and a deepening structural crisis, as high-value industries shed workers and youth unemployment surged to its highest level in years. The number of employed people rose by 234,000 (0.8 percent) from a year earlier to 28.41 million, according to da March 18, 2026
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  Kookmin University professor develops AI framework for public R&D evaluation SEOUL, March 18 (AJP) - A research team led by Professor Kim Do-hyung of the KMU International Business School (KIBS) at Kookmin University (KMU) has developed a generative artificial intelligence framework to enhance decision-making in public research and development (R&D) evaluations, the university said Tuesday. The study introduces a systematic approach to bridging the gap between technical capabilities and stakeholder expectations. The research paper, titled "Bridgin March 18, 2026
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  US no longer needs help from allies including South Korea, Trump blasts SEOUL, March 18 (AJP) - U.S. President Donald Trump said Tuesday that his country no longer needs naval assistance from North Atlantic Treaty Organization (NATO) member countries, as well as Australia, Japan, and South Korea, to keep the Strait of Hormuz open and secure. "Because of the fact that we have had such Military Success, we no longer 'need,' or desire, the NATO Countries' assistance - WE NEVER DID! Likewise, Japan, Australia, or South Korea," Trump wr March 18, 2026
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  SK hynix owed 70% to US and 25% to Nvidia for record 2025 sales SEOUL, March 17 (AJP) - SK hynix has effectively pivoted into an American-centric powerhouse, with nearly 70 percent of its record-breaking 2025 revenue originating from U.S. customers, with NVIDIA alone accounting for a quarter, according to its annual business report released Tuesday. The fiscal transformation, fueled by an insatiable appetite for High Bandwidth Memory (HBM) among Silicon Valley giants, pushed the company into a "net cash" position for the first time March 17, 2026