Submarine deal looms large over Canada's high-profile trade mission to Korea SEOUL, March 31 (AJP) - Canada’s trade delegation to South Korea this week has been heavily layered with the hot-button deal — Canada’s largest-ever defense procurement to replace its aging submarines, worth an estimated $40 billion, now being weighed between Korean and European bidders. The visit by the Team Canada Trade Mission, led by International Trade Minister Maninder Sidhu, comes as Ottawa moves to diversify trade and deepen ties with trusted partners, with March 31, 2026

South Korea launches oil swap program for refiners amid Middle East supply disruptions SEOUL, March 31 (AJP) - South Korea is implementing an "oil swap" program that lends government-owned stockpiles to refiners to help them secure alternative oil supplies, the Ministry of Trade, Industry and Resources said Tuesday. At a daily briefing at the government complex in the administrative city of Sejong, Yang Gi-uk, a ministry official, said the government is "releasing stockpiles" for refiners. Yang said Middle Eastern crude makes up the largest shar March 31, 2026

Korean Economy/Business Calendar SEOUL, March 31 (AJP) - Apr. 2 (Thu) Mar. 2026 Consumer Price Index (Preliminary) - Ministry of Data and Statistics Apr. 8 (Wed) Feb. 2026 Balance of Payments (Preliminary) - Bank of Korea Apr. 9 (Thu) 2025 Flow of Funds (Preliminary) - Bank of Korea Apr. 15 (Wed) Feb. 2026 Money and Liquidity - Bank of Korea Mar. 2026 Export/Import Price & Trade Indexes - Bank of Korea Mar. 2026 Employment Trends - Ministry of Data and Statistics Apr. 22 (Wed) Mar. 2026 March 31, 2026

Lee weighs bold economic measures as Middle East conflict deepens SEOUL, March 31 (AJP) - President Lee Jae Myung on Tuesday hinted at drastic measures to stabilize the economy amid the prolonged conflict in the Middle East. During a Cabinet meeting at Cheong Wa Dae in central Seoul, Lee said the government may take bold action including an emergency fiscal order if necessary, as the conflict that began with U.S.-led airstrikes on Iran late last month has escalated with no end in sight, setting off "warning signals" for the global ec March 31, 2026

EDITORIAL: A breach of trust at the heart of the platform economy Woowa Brothers, operator of South Korea’s leading food delivery app Baemin, has issued a public apology after customer data was misused by criminals who infiltrated an outsourced customer service contractor under false pretenses. Coming on the heels of a recent data-related controversy at Coupang, the episode has further shaken confidence in platform operators entrusted with vast amounts of personal information. More than a lapse in security, it exposes a structural vulnera March 31, 2026

Pulmuone vows AI-driven growth push at annual shareholder meeting SEOUL, March 31 (AJP) - South Korean food company Pulmuone held its annual general meeting, pledging to accelerate its artificial intelligence transformation strategy and expand into new business segments as it eyes a deeper footprint in global markets. The meeting, held at the Korea Science and Technology Convention Center in Seoul's Gangnam district on Tuesday, drew shareholders and company executives under the theme "ONE" — a reference to the firm's corpor March 31, 2026

UN Human Rights Council adopts resolution condemning North Korea SEOUL, March 31 (AJP) - The United Nations Human Rights Council (UNHRC) has adopted a resolution condemning human rights violations in North Korea, calling for the country to be held accountable. According to the Ministry of Foreign Affairs here on Tuesday, the resolution was passed unanimously by consensus at the council's 61st session in Geneva last Sunday, with South Korea among the 50 co-sponsoring countries. Such resolutions have been adopted annually since 2003, March 31, 2026

KOSPI slides as Korean won hits 17-year low amid deepening Middle East conflict SEOUL, March 31 (AJP) - With Asian markets mostly opening mixed on Tuesday, South Korean stocks took the brunt of losses as the won weakened to around 1,520 for the first time since the 2008 global financial crisis. The escalating conflict in the Middle East, along with fading hopes for ceasefire talks, further weighed on market sentiment. The possible deployment of U.S. ground forces further heightened fears of the conflict turning into a massive regional war. With Asian markets March 31, 2026

Korean won at crisis lows, but no crisis, says BOK chief nominee SEOUL, March 31 (AJP) -The South Korean won weakening past the 1,520-per-dollar mark — its lowest level since the global financial crisis in March 2009 — should not be overstated as a sign of crisis, as the country's financial system is far more resilient than in the past, Bank of Korea governor nominee Shin Hyun-song said Tuesday. “What matters more than the level itself is whether the financial system can accommodate it,” Shin told reporters as he arriv March 31, 2026

AWS to invest additional 7 trillion won in AI in South Korea by 2031 SEOUL, March 31 (AJP) - Amazon Web Services (AWS) will make a massive investment in South Korea over the next seven years to expand its infrastructure for artificial intelligence (AI)-related facilities and cloud services. According to industry data disclosed by the Korea Internet & Security Agency (KISA) on Tuesday, AWS plans to invest an additional 7 trillion (or US$4.6 billion) won by 2031. Combined with the 5.6 trillion won already invested, the total through 2031 would r March 31, 2026