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  Oil shock and shipping risks loom over Korea's 2% growth and bullish stock outlook SEOUL, March 01 (AJP) -Escalating geopolitical tensions in the Middle East following U.S. and Israeli strikes on Iran are threatening to splash cold water on Korea’s stock market rally and fragile economic recovery, underpinned by stable fuel prices and exchange rates. Given the country’s heavy dependence on imported energy and maritime trade routes, even a limited disruption in the Gulf region could ripple quickly through oil markets, shipping costs and industrial produ March 1, 2026
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  S. Korea enters era of 1 million foreign patients, moves to regulate medical fees SEOUL, March 01 (AJP) - South Korea's medical tourism boom shows no signs of slowing, with the number of foreign patients having surpassed the 1 million mark for the first time in 2024 and no meaningful reversal in sight — prompting the government to tighten oversight of fees charged to overseas visitors. The Ministry of Health and Welfare recently announced proposed amendments to the enforcement decree and rules of the Act on Supporting Overseas Expansion of Medical Servi March 1, 2026
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  ANALYSIS: Seoul on alert in fear of Iran crisis shockwaves reaching Northeast Asia SEOUL, March 01 (AJP) -South Korea convened an emergency National Security Council working-level meeting Saturday evening as the Iran crisis escalated, underscoring how quickly a Middle East conflict can translate into strategic and economic risk in Northeast Asia. The National Security Office reviewed the situation on the ground, assessed impacts on national security and the economy, and prioritized the safety of Korean nationals in the region. President March 1, 2026
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  Trump calls for rehearing on tariff ruling as South Korean firms seek massive refunds SEOUL, February 28 (AJP) - U.S. President Donald Trump on Friday (local time) questioned whether the Supreme Court could revisit its decision to strike down his administration's tariff authority, a move that comes as South Korean exporters and other global firms prepare to seek billions of dollars in refunds. Writing on his social media platform Truth Social, Trump expressed frustration with the February 20 ruling, which invalidated reciprocal tariffs he had imposed under the February 28, 2026
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  President Lee Jae Myung urges patience in building trust with North Korea SEOUL, February 26 (AJP) - South Korean President Lee Jae Myung stated Thursday that long-standing hostility between the two Koreas cannot be erased with a single measure, responding to North Korean leader Kim Jong-un's speech from a day ago, which characterized Seoul's outreach as a "deception." During a meeting with senior secretaries at the presidential office, President Lee addressed Kim's report at the 9th Congress of the Workers' Party, in which t February 26, 2026
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  South Korea, US to stage annual joint drill with scaled-down field training SEOUL, February 25 (AJP) - South Korean and U.S. troops will stage their annual joint military exercise next month to strengthen their combined defense posture, the Joint Chiefs of Staff here said on Wednesday. The exercise, dubbed Freedom Shield (FS), is scheduled to be held from March 9 to 19 under a scenario simulating a full-scale war to prepare for contingencies on the Korean Peninsula. The exercise aims to strengthen combined combat readiness while preparing for the tra February 25, 2026
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  Presidential chief of staff leaves for UAE to discuss AI and defense cooperation SEOUL, February 24 (AJP) - Presidential chief of staff Kang Hoon-sik left for the United Arab Emirates (UAE) on Tuesday to discuss cooperation in economic and defense sectors, artificial intelligence (AI) and other areas with the Middle Eastern country. In a Facebook post, Kang said he was embarking on a three-day trip for working-level consultations to discuss follow-up measures after President Lee Jae Myung's state visit to the UAE in November last year. Kang also said 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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  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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  South Korea and Brazil upgrade ties to strategic partnership SEOUL, February 23 (AJP) - South Korean President Lee Jae Myung and Brazilian President Luiz Inacio Lula da Silva agreed to elevate bilateral relations to a strategic partnership following a summit at the presidential Blue House on Monday. During a joint press briefing in the afternoon, Lee announced the adoption of a four-year action plan designed to foster a new leap forward in the bilateral relationship. The leaders oversaw the signing of 10 memorandums of understanding coverin February 23, 2026