IMF to factor Middle East shock into world economic outlook in April SEOUL, March 20 (AJP) - The International Monetary Fund perceives rising downside risks in the global economy from volatility in energy prices and financial market stemming from Middle East conflict and will factor the negative impact on growth and inflation into its updated economic outlook in April, according to a senior official. Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol met visiting Dan Katz, First Deputy Managing Director of the International Mo March 20, 2026

Seoul readies contingency as Qatar LNG force majeure looms SEOUL, March 20 (AJP) - South Korea has prepared a contingency plan for a worst-case scenario in which liquefied natural gas (LNG) imports from Qatar are completely halted as missile strikes on the Gulf state’s key energy infrastructure raise the risk of prolonged supply disruption, according to government officials in Seoul Friday. The move underscores how the escalating Iran war is beginning to hit global energy supply chains directly, with retaliatory attacks now extending March 20, 2026

South Korea braces for supply disruptions after Iran's attack on Qatari energy complex SEOUL, March 20 (AJP) - The government is reviewing additional measures to cope with supply chain disruptions as the prolonged conflict in the Middle East affects supplies of naphtha and other petrochemical products, Cheong Wa Dae said on Friday. The remarks came after Iran's attack on Qatar's Ras Laffan Industrial City, the world's largest liquefied natural gas (LNG) complex, which accounts for about 20 percent of global supply. According to a senior Cheong Wa Da March 20, 2026

AI war jolts Seoul into bipartisan push for defense chips SEOUL, March 19 (AJP) - The U.S.-Israel war on Iran — increasingly described as the world’s first “AI war” — is forcing South Korea to confront a critical vulnerability: its heavy reliance on foreign semiconductors in defense systems. Both Washington and Tel Aviv have confirmed deploying a “variety” of artificial intelligence tools in combat, from targeting systems to leadership strikes. The conflict has underscored how modern warfare is rap March 19, 2026

Kookmin University study explores shifts in Chinese monetary policy amid global uncertainty SEOUL, March 19 (AJP) - A research team led by Kookmin University Professor Oh Eun-young has published a study analyzing the evolution of China's monetary policy regimes, the university said Wednesday. The research specifically examines how the country has adapted its financial strategies in response to increasing global policy uncertainty. The paper, titled "Dynamics of monetary policy regimes in China under rising global uncertainty: A time-varying approach," was f March 19, 2026

Seoul raises crude alert to Level 2 as Hormuz blockade bites SEOUL, March 18 (AJP) — As the Middle East conflict continues to disrupt global energy supplies, the South Korean government Wednesday raised its crude oil security alert one notch to Level 2 ("Caution"), opening the way to direct intervention, including the possible release of strategic oil reserves. The Ministry of Trade, Industry and Energy (MOTIE) announced the upgrade from Level 1 ("Interest") to Level 2 effective as of 3 p.m. local time (6am UTC) We March 18, 2026

South Korea launches committee tasked with implementing US investment pledges SEOUL, March 18 (AJP) - A committee tasked with setting up a fund to implement massive investment pledges to the U.S. was launched with its first meeting in Seoul, the Ministry of Finance and Economy said on Wednesday. The committee, consisting of seven officials from government agencies and financial institutions, was formed as a follow-up step just a day after a special bill outlining bilateral agreements with the U.S. including investment pledges of US$350 billion under a broad March 18, 2026

Lee thanks Japan, Qatar, and Saudi Arabia for helping evacuate South Koreans from Middle East SEOUL, March 18 (AJP) - President Lee Jae Myung has sent letters to the leaders of Japan, Qatar, and Saudi Arabia to thank them for their cooperation in evacuating South Korean nationals from the Middle East, Cheong Wa Dae said on Wednesday. In a written press briefing, presidential spokesperson Kang Yu-jung said that Lee sent the letters the previous day to Japanese Prime Minister Sanae Takaichi, Qatar's Tamim bin Hamad Al Thani Al and Saudi Arabia's Crown Prince Mohammed b March 18, 2026

South Korea to inject over 1 billion in supplementary budget SEOUL, March 18 (AJP) - The government is coming up with a set of measures including a 1.5 trillion won (US$1.01 billion) in supplementary budget to buttress an economy hit by the escalating conflict in the Middle East, which began with U.S.‑led airstrikes on Iran late last month. In an emergency meeting chaired by Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol in Seoul on Wednesday, he pledged the swift implementation of the supplementary budget and o March 18, 2026

Korea's Feb job growth led by elderly and service, AI substitution hits entry jobs SEOUL, Mar. 18 (AJP) — South Korea’s labour market showed a deceptive resilience in February, with headline employment rising for the second consecutive month, but the underlying data reveals a deteriorating quality of jobs and a deepening structural crisis, as high-value industries shed workers and youth unemployment surged to its highest level in years. The number of employed people rose by 234,000 (0.8 percent) from a year earlier to 28.41 million, according to da March 18, 2026