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  Kbank draws $7.3 bn in pre-IPO deposits ahead of planned KOSPI debut SEOUL, February 24 (AJP) - Kbank, South Korea’s first internet-only lender, has attracted more than $7 billion in pre-initial public offering deposits as it prepares to become the first major IPO of 2026 on the KOSPI, the world’s best-performing equity market this year. The bank wrapped up a three-day pre-IPO offering to retail investors on Monday, posting a subscription competition ratio of 136 to 1. About 9.85 trillion won ($7.3 billion) in deposits were raised, wi February 24, 2026
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  Brazilian president pitches supply chain ties to S. Korean conglomerate heads SEOUL, February 24 (AJP) - Anchoring his first state visit to South Korea in two decades, Brazilian President Luiz Inacio Lula da Silva met with the leaders of the country's largest conglomerates on Monday to secure supply chain partnerships in advanced industries like artificial intelligence and clean energy. The private gathering in Seoul followed a summit earlier in the day between Lula and South Korean President Lee Jae Myung at the presidential Blue House. During the morn February 24, 2026
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  OPINION: With US tariff ruling, trade war enters new phase SEOUL, February 24 (AJP) - Two months into the new year, uncertainty continues to mount, unsettling businesses and consumers alike. What matters as much as what changes is what holds steady — yet unexpected shocks keep emerging and how governments and companies respond will determine what lies ahead. A new variable has hit global trade. The U.S. Supreme Court ruled that U.S. President Donald Trump's reciprocal tariffs and fentanyl-related tariffs imposed under the Intern February 24, 2026
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  Celltrion unveils dual-track obesity drug strategy with quad-action injectable and oral pill SEOUL, February 24 (AJP) - Celltrion announced it is pursuing a two-pronged approach to the fast-growing obesity treatment market, developing both a first-in-class quadruple-action injectable and a multi-target oral drug designed to challenge dominant players in the space. The injectable candidate reported Tuesday, CT-G32, targets four biological pathways simultaneously, moving beyond the dual- and triple-action GLP-1-based therapies that currently dominate the market. Celltrion February 24, 2026
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  1 dead, 3 injured due to fire at aging apartment complex in southern Seoul SEOUL, February 24 (AJP) - A fire broke out in an apartment unit in southern Seoul on Tuesday, leaving one person dead and three others injured. About 70 residents were evacuated after the fire began at around 6:20 a.m. at the Eunma apartment complex in Daechi-dong, an affluent neighborhood in Seoul's Gangnam district, according to district officials. Fire authorities said they contained the fire in about an hour and were working to extinguish the remaining flames. The agi February 24, 2026
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  Korea's producer prices on mild increase in Jan on brisk chip demand SEOUL, February 24 (AJP) -South Korea’s producer prices posted mild gains in January despite a softer U.S. dollar against the won and falling fuel prices, supported by brisk chipmaking activity. According to data released by the Bank of Korea on Tuesday, the producer price index (PPI) for January stood at 122.50 (2020=100), up 0.6 percent from the previous month and 1.9 percent from a year earlier. The PPI has recorded monthly increases since September. By category, prices February 24, 2026
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  South Korea wins UK court bid to void Elliott ISDS award SEOUL, February 24 (AJP) -South Korea has won a decisive legal battle in a UK court to overturn an international arbitration ruling that had ordered the government to pay roughly 160 billion won ($110 million) to U.S. hedge fund Elliott Management, the Justice Ministry said in a release issued late Monday. The British High Court set aside the 2023 investor-state dispute settlement (ISDS) award, meaning the arbitration decision can no longer stand. The case will now return to arbitra February 24, 2026
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  BTS Comeback D-26: Racing the clock: scramble for Gwanghwamun tickets SEOUL, February 23 (AJP)-By the time the newsroom clock hit 7:59 p.m. on Feb. 23, conversation had faded to a whisper. Laptop screens were lined up like starting blocks. Smartphones lay face-up beside keyboards, refresh buttons ready. Some reporters counted under their breath. Others stared silently, afraid even to blink. At exactly 8 p.m., everyone clicked. For half a second, nothing happened. Then the screen flickered. 45,908 ahead of you.” “98,991 waiting.& February 23, 2026
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  AI reckoning: when Chinese algorithms start making movies SEOUL, February 23 (AJP) - When clips of Spider-Man crouching on a rain-soaked Shanghai skyline and Deadpool delivering punchlines in fluent Mandarin began circulating on Chinese social media last month, Hollywood C-suite were impressed. Then they panicked. The videos were generated by Seedance 2.0, an artificial intelligence tool developed by ByteDance, the parent company of TikTok. With a short line of text, users could summon short films complete with soundtracks, camera mov February 23, 2026
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  Rate inaction likely in upcoming BOK meeting amid growing uncertainties SEOUL, Feb 23 (AJP) - The Bank of Korea is widely expected to keep its benchmark interest rate unchanged on Thursday, hemmed in by political uncertainty abroad, domestic financial imbalances and a governorship nearing the end of its term. Since cutting rates to 2.5 percent in May last year, the BOK has remained on hold. That pause reflects a series of overlapping constraints: political turbulence triggered by impeachment fallout, renewed U.S. trade pressure, inflation risks from a February 23, 2026