More workers to get day off as Labor Day set to become public holiday SEOUL, March 26 (AJP) - A bill to designate Labor Day as a statutory public holiday passed a committee in the National Assembly on Thursday. If it clears the remaining legislative steps including Cabinet approval, May 1 will be observed as a public holiday, taking effect this year. Labor Day was made a paid holiday in 1994, but public officials, teachers, and platform workers such as deliverymen have not been able to take the day off because they are not classified as employees u March 26, 2026

South Korean ships can pass through Strait of Hormuz only with prior consultation, Iranian envoy says SEOUL, March 26 (AJP) - South Korean ships can pass through the Strait of Hormuz, but "only with prior consultation" with Tehran, Iran's top envoy said on Thursday. At a press conference at the Iranian Embassy in Yongsan, Seoul, Iranian Ambassador to South Korea Saeed Koozechi said there have been no safety concerns so far involving South Korean vessels or crew members, adding that the foreign ministers and embassies of both countries are "communicating smoothly&q March 26, 2026

Korean game publishers play it safe as AI reshapes industry fault lines SEOUL, March 26 (AJP) - South Korea's major game publishers are sticking to safer bets — stable leadership and proven revenue drivers — as they navigate the uncharted waters of artificial intelligence. A wave of executive reappointments during this year's shareholder season reflects that caution. Krafton renewed the terms of Chairman Chang Byung-gyu and CEO Kim Chang-han for a third consecutive term, while Nexon retained CEO Lee Jung-hun after posting a record 4. March 26, 2026

Uzbekistan's business climate signals decoupling from historical stagnation as demand surges SEOUL, March 26 (AJP) - The Center for Economic Research and Reforms in Uzbekistan reported Wednesday that the national business climate reached 65 points in February 2026, an 11-point increase over the previous year. This shift signals a significant decoupling from historical stagnation, marking a fundamental transition in how the private sector navigates the regional economy. The acceleration aligns with a broader macroeconomic surge shown by data from the Statistics Agency of U March 26, 2026

Seoul deploys "wartime" policy arsenal to fight Gulf shockwaves SEOUL, March 26 (AJP) -South Korea is deploying “all possible” fiscal and policy tools — including a supplementary budget of around 25 trillion won ($18.7 billion), expanded fuel tax cuts and market stabilization measures — as it moves into what the government described as a “wartime” economic response to the prolonged Middle East conflict. “In the face of a grave wartime situation, we will mobilize all policy means and the optimal mix to e March 26, 2026

Naver's counterfeit crackdown lifts seller revenues by 34%, study finds SEOUL, March 26 (AJP) - Naver's anti-counterfeit measures have driven a 34 percent rise in seller revenues and a 20 percent increase in sales volume on its e-commerce platform, according to research released by the company's user protection and self-regulation committee. The findings, led by Kim Ji-young, a professor at Sungkyunkwan University, drew on transaction data from sellers who cooperated with Naver's counterfeit prevention program. Brands participating in the in March 26, 2026

South Korea to buy back $3bn bonds to bolster market SEOUL, March 26 (AJP) -South Korea will buy back 5 trillion won ($3.3 billion) of sovereign bonds in a rare market intervention to cap a surge in yields that have overshot the policy rate by more than 100 basis points amid the prolonged Middle East conflict. The Ministry of Economy and Finance (MOEF) said Thursday it will conduct the buyback on Friday, targeting Korea Treasury Bonds (KTBs) with maturities ranging from two to 10 years — one of the largest liquidity injections March 26, 2026

Many teenagers still addicted to smartphones despite overall decline SEOUL, March 26 (AJP) - About a quarter of South Koreans were at risk of overdependence on smartphones last year, according to a survey released Thursday. The risk was similarly high among young children but decreased among adults and those in their 60s compared with the previous year. The Ministry of Science and ICT conducted one-on-one interviews with about 10,000 households nationwide to survey patterns of smartphone usage. Some 22.7 percent of smartphone users were classifi March 26, 2026

From "mind the gap" to driver's seat, hands-on experience SEOUL, March 26 (AJP) -From “mind the gap” practice to a glimpse inside the driver’s cabin, elementary students stepped into the world of urban rail operations during a hands-on safety program in Incheon. Students from Gyulhyeon Elementary School explored an electric train during a safety experience program at the Gyulhyeon Depot in Gyeyang-gu, Incheon, on March 25. Hosted by Incheon Transit Corporation, the program gave 23 students hands-on exposure to urban March 26, 2026

Rising subprime borrowers face delinquency risk amid fast rate rises in Korea SEOUL, March 26 (AJP) - A growing pool of overleveraged, subprime borrowers is emerging as a key financial risk in South Korea, with war-driven surge in market and dollar rates amplifying repayment stress. Data released Thursday by the Bank of Korea (BOK) showed the share of “subprime borrowers” — defined by the BOK as individuals with loans from three or more financial institutions, belonging to the bottom 30 percent income bracket and holding low credit rating March 26, 2026