Shinsegae signs deal with US AI startup to build huge data center in South Korea SEOUL, March 17 (AJP) - Shinsegae said Tuesday it has agreed to build a mega data center for artificial intelligence (AI) in South Korea in partnership with a U.S. AI company. The retail giant's chairman Chung Yong-jin met Reflection AI CEO Misha Laskin in San Francisco last Sunday and signed a memorandum of understanding (MOU) to form a strategic partnership to build the 250-megawatt data center. The AI startup's co-founder Laskin, along with Ioannis Antonoglou - a March 17, 2026

Asian stocks diverge, KOSPI ends positive despite jittery won SEOUL, March 16 (AJP) -Asian stock markets diverged Monday as oil prices climbed above $100 in response to tensions around the Strait of Hormuz. With investors weighing energy risks and global demand signals, Japan and China edged lower, while Korea bucked the regional trend on strong semiconductor gains. Brent crude rose 1.6 percent to $104.83 a barrel and West Texas Intermediate crude gained 0.6 percent to $99.30, keeping energy security concerns at the center of regional tra March 16, 2026

Korea's default risk premiums rise faster than others, yet below 5-year average SEOUL, Mar. 16 (AJP) - South Korea’s sovereign risk indicators are rapidly rising in line with the volatility in capital markets and exposure to oil supply disruptions, potentially further undermining foreign investor confidence in Korean securities. South Korea’s five-year credit default swap (CDS) premium surged 23.83 percent in the past month, exceeding the gain of around 10 percent in China’s CDS and Japan’s remaining largely flat at around 1 percent March 16, 2026

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

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

Korean bond yields soar as if in tightening cycle amid widening Gulf war SEOUL, Mar. 13 (AJP) — South Korean government bond yields are climbing sharply as investors demand higher risk premiums amid intensifying conflict in the Middle East and a renewed rise in global interest rates. Yields on sovereign debt have followed a steep upward trajectory since the beginning of the year, reflecting both external shocks and shifting global capital flows. According to the Korea Financial Investment Association (KOFIA) on Friday, the three-year governm March 13, 2026

Asian stocks fall as oil nears $100 and tensions loom large in the second war week SEOUL, March 13 (AJP) — Asian stock markets ended lower Friday as oil prices climbed back toward the $100 mark and tensions in the Middle East continued to unsettle investors across the region with little sign of easing in the second week. The Strait of Hormuz remained severely disrupted, raising alarms about Asian economies relying heavily on crude imports from the Gulf. U.S. benchmark West Texas Intermediate crude traded around $95 per barrel, while global benchmark Bre March 13, 2026

Coupang's interim chief volunteers for overnight delivery SEOUL, March 13 (AJP) - Harold Rogers, Coupang's interim chief in South Korea, volunteered to participate in a dawn delivery at its logistics center on the outskirts of Seoul early Friday. Rogers visited the center near Seongnam in Gyeonggi Province, where he helped load goods and deliver orders alongside workers. His visit became known after photos were posted on social media by a person believed to be a staffer, and the e-commerce giant confirmed that Rogers visited March 13, 2026

Korea's M2 rise picks up in Jan as stock invest and dollar savings pile up SEOUL, Mar 13 (AJP) —South Korea’s M2 money supply grew at a faster pace in January than previous months on strong stock market and U.S.-dollar-denominated savings on expectations of continued greenback strength. According to a Bank of Korea (BOK) release on Friday, the M2 money supply grew 0.7 percent month-on-month in January to reach 4,108.9 trillion won ($2.83 trillion). Under the previous M2 standard (used prior to November statistics), the figure rose 1.2 perc March 13, 2026

Asian stocks fall as oil tops $100 on Hormuz tensions SEOUL, March 13 (AJP) — Asian stock markets opened lower Friday after oil prices surged above $100 a barrel amid escalating tensions around the Strait of Hormuz, raising concerns about prolonged disruptions to global energy supplies. Investor anxiety intensified after Iran’s Supreme Leader Mojtaba Khamenei vowed to maintain pressure on shipping through the strategic waterway and warned Tehran could open another front in the conflict, stoking fears that the war could dr March 13, 2026