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  First reserve forces training begins amid heightened global tensions SEOUL, March 03 (AJP) - Amid growing global uncertainty, this year’s first reserve forces training began on Tuesday in South Korea. As military clashes between Iran and the United States and Israel continue for a fourth consecutive day, reserve troops conducted urban combat drills and video-based simulated live-fire training at the Pyeongtaek–Osan Advanced Reserve Training Center under the Republic of Korea Army 51st Infantry Division in Pyeongtaek, Gyeonggi Province. March 3, 2026
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  S. Korea's benchmark KOSPI drops due to war in Middle East SEOUL, March 03 (AJP) - The benchmark KOSPI plunged on Tuesday as geopolitical tensions escalated following the outbreak of war between the United States and Iran. The KOSPI closed at 5,791.91, down 452.22 points, or 7.24 percent, from the previous session. The tech-heavy KOSDAQ also fell 55.08 points, or 4.62 percent, to finish at 1,137.70. An electronic board at the dealing room of Hana Bank in central Seoul displayed the sharp decline in the benchmark index. March 3, 2026
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  Middle East crisis: Korea pulled into war axis with 70% oil exposure SEOUL, March 03 (AJP) - South Korea sources roughly 70 percent of its crude oil from the Middle East — and about 95 percent of that volume passes through the narrow Strait of Hormuz off Iran’s coast. Tankers bound for Korea and other Asian destinations must transit the strategic waterway, navigating under the shadow of Iran’s Islamic Revolutionary Guard Corps (IRGC), which has threatened to “set fire” to vessels and “not let a single drop of oil l March 3, 2026
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  Middle East Crisis: Chipmakers unworried, investors disagree SEOUL, March 03 (AJP) - South Korean memory producers do not expect the flare-up in the Middle East to disrupt their unprecedented upcycle, with DRAM prices projected to nearly double in the first quarter from the prior three-month period that already delivered record chip profits. Market tracker TrendForce recently forecast a 90–95 percent quarter-over-quarter surge in conventional DRAM contract prices for the first quarter, driven by sustained artificial intelligence (AI) March 3, 2026
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  Iranian embassy in South Korea condemns military strikes by US and Israel SEOUL, March 03 (AJP) - The Embassy of Iran in South Korea issued a formal statement on Tuesday strongly denouncing recent military operations by the United States and Israel against Iranian territory. The embassy characterized the air strikes as a criminal act of aggression and a violation of national sovereignty, asserting that Tehran had pursued every available diplomatic avenue to prevent the outbreak of hostilities. The statement follows a large-scale military campaign launch March 3, 2026
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  WAIFF D-3: WAIFF Seoul 2026 seeks to put Korea at the crossroads of AI and cinema SEOUL, March 03 (AJP) - The upcoming World AI Film Festival Seoul 2026 aims to position itself as more than a standard cinematic competition, signaling that artificial intelligence-driven content creation has moved into a formal industrial phase. Organizers intend for the event to serve as a declaration that AI technology is no longer just an experimental tool but a cornerstone of modern media production. While the two-day event on March 6 and 7 will feature awards March 3, 2026
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  South Korean researchers develop world's most efficient stretchable OLED SEOUL, March 03 (AJP) - A joint research team has developed a new stretchable organic light-emitting diode (OLED) that maintains its brightness even when stretched, overcoming a major technical barrier in the development of flexible electronics. The technology achieved world-record performance levels for brightness and efficiency, significantly improving the prospects for commercializing wearable displays and electronic skin. The Korea Advanced Institute of Science and Technology March 3, 2026
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  Uzbekistan joins international peace council for Gaza during Washington visit SEOUL, March 03 (AJP) - President Shavkat Mirziyoyev visited Washington from February 17 to February 19 at the invitation of United States President Donald Trump to participate in the inaugural meeting of the Peace Council. The working visit combined high-level political discussions with an extensive economic program, resulting in several agreements designed to strengthen the strategic partnership between Uzbekistan and the United States. The Peace Council is an intergovernmental March 3, 2026
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  Middle East Crisis: Korean industries grapple with renewed oil shock SEOUL, March 03 (AJP) - The widening Middle East crisis, triggered by U.S.-Israeli attacks on Iran and Tehran's closure of the Strait of Hormuz, is poised to ripple across South Korea's industrial landscape — compounding pressure on the struggling petrochemical sector while opening fresh prospects for defense exporters. The joint U.S.-Israeli airstrikes on Iran, launched on Feb. 28, killed Supreme Leader Ayatollah Ali Khamenei and triggered retaliatory Iranian missile March 3, 2026
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  South Korean President Lee arrives in Manila for summit with President Marcos SEOUL, March 03 (AJP) - South Korean President Lee Jae Myung arrived in Manila on Tuesday afternoon for a state visit to the Philippines. The trip coincides with the 77th anniversary of the establishment of diplomatic relations between the two countries. President Lee is scheduled to hold a summit with President Ferdinand Romualdez Marcos Jr., followed by a joint press announcement and a state dinner. This is the second meeting between the two leaders since they met approximately March 3, 2026