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  South Korea hit hard by rising costs as Middle East conflict drags on, think tank warns SEOUL, March 16 (AJP) - A prolonged conflict between the U.S. and Iran could drive up energy and logistics costs for South Korea, with a 10-percent rise in global oil prices projected to push domestic manufacturing production costs up by an average of 0.71 percent, a report released by a state-run think tank on Monday suggests. The Korea Institute for Industrial Economics and Trade (KIET) warned that ongoing tensions around the Strait of Hormuz, a critical chokepoint for roughly o March 16, 2026
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  GULF CRISIS: Trump's coalition push puts Korea's Cheonghae Unit in spotlight SEOUL, March 16 (AJP) - U.S. President Donald Trump’s call for other countries to help escort commercial shipping through the Strait of Hormuz has drawn cautious and broadly noncommittal responses from allies, with South Korea’s Cheonghae Unit emerging as the most likely naval asset should Seoul decide to participate. South Korea and other countries asked by Washington to help protect merchant vessels from Iranian attacks in the strategic waterway are quietly weighing t March 16, 2026
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  BTS Live D-5 : Seoul turns into citywide festival as BTS makes comeback SEOUL, March 16 (AJP) - Seoul is poised to burst into light and sound this weekend as a quarter million fans descend on the Korean capital for a comeback performance by the mega-group BTS. The concert in Gwanghwamun Square will be the first in four years, following the completion of mandatory military service by the group members. The performance will follow the release Friday of ARIRANG, BTS’ fifth studio album. All 22,000 concert seats sold out rapidly, undersco March 16, 2026
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  Airlines set to hike fuel surcharges amid rising oil prices SEOUL, March 16 (AJP) - Airlines are raising their fuel surcharges due to soaring oil prices amid the escalating conflict in the Middle East. Fuel surcharges are applied on both international and domestic flight routes based on changes in the average price of fuel traded on Singapore's spot market. According to aviation industry data released on Monday, the average price of Singapore jet fuel, known as MOPS, is projected to reach at least 300 cents per gallon for the peri March 16, 2026
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  Asian markets open the third Gulf war week lower  SEOUL, March 16 (AJP) — Asian stock markets traded lower Monday as investor sentiment remained fragile with the Iran war entering a third week and the Strait of Hormuz still effectively cut off, keeping energy and security risks at the center of regional trading. Reports that President Donald Trump is pressing U.S. allies and major Asian importers to help reopen the waterway added to the sense of unease. South Korea’s KOSPI swung from early gains into negative ter March 16, 2026
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  SK hynix now most favorite workplace among jobseekers, overtaking Samsung SEOUL, March 16 (AJP) - SK hynix has surpassed Samsung Electronics as the most preferred employer among job seekers in South Korea. Online job-search site Saramin said on Monday that it conducted a survey of over 2,000 job seekers and found that about 20 percent of them named SK hynix as their most sought-after employer. It marks the first time Samsung Electronics has lost the top spot since similar surveys began in 2009. The electronics giant, which had long held a dominant le March 16, 2026
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  Trump hints at possible delay of upcoming Beijing trip, presses allies to send warships SEOUL, March 16 (AJP) - U.S. President Donald Trump Sunday hinted that his upcoming trip to China later this month might be delayed, while repeating his call for allies to send warships to the Strait of Hormuz to help keep it open and safe amid the escalating conflict in the Middle East. In an interview with the Financial Times, just a day after he urged five countries including China, France, Japan, South Korea and the U.K., which are "affected" by the closure of the stra March 16, 2026
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  GULF CRISIS: South Korea to release 22.46 million barrels from strategic reserve SEOUL, March 16 (AJP) -South Korea will release 22.46 million barrels of crude oil from its strategic reserves over the next three months as part of coordinated international efforts to stabilize global energy markets following supply disruptions caused by Iran’s blockade of the Strait of Hormuz. The decision was announced Monday after a meeting between the government and the ruling party, which agreed to gradually release the oil stockpile in line with a collective action pla March 16, 2026
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  Egg, meat prices keep rising as avian flu and livestock diseases persist SEOUL, March 16 (AJP) - Prices of livestock products are surging in South Korea as highly pathogenic avian influenza and African swine fever spread. According to the Korea Institute for Animal Products Quality Evaluation, the average retail price for 10 extra-large eggs stood at 3,893 won as of the second week of this month, up more than 20 percent from a year earlier, putting the price of a single egg at nearly 400 won. About 56 avian influenza cases have been reported so fa March 16, 2026
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  Samsung SDI wins $1 bln U.S. ESS battery deal to offset EV setbacks SEOUL, March 16 (AJP) - Samsung SDI said Monday it has secured another large battery supply contract in the United States, underscoring the South Korean battery maker’s accelerating push into the rapidly expanding global energy storage system (ESS) market to offset the slowing demand for EV batteries in North America. The company said its Michigan-based subsidiary, Samsung SDI America, has signed a deal worth about 1.5 trillion won ($1 billion) to supply ESS batteries to a ma March 16, 2026