ソウル経済新聞 - 韓国ビジネスニュース、株式市場、金融・経済 --- Seoul Economic Daily - Korea Business News, Stock Market, Finance & Economy

Army Commissions 788 NCOs in Year's First Ceremony, Most in Five Years

The Republic of Korea Army held the commissioning ceremony for its 26-1st class of noncommissioned officers (NCOs) at the Army NCO Academy in Iksan, North Jeolla Province, on Monday, presided over by Army Chief of Staff Gen. Kim Gyu-ha. A total of 788 elite NCOs were commissioned at the ceremony. The class comprised 579 from the civilian track — including 232 female soldiers — and 209 from the active-duty enlisted track. The cohort is the largest in the past five years. The Army attributed the increase to higher application rates driven by proactive recruitment policies, including improved service conditions. "NCOs are the strength, pride, and future of the Army," Gen. Kim said in his congratulatory address. "We will continue to pursue policies that strengthen NCO capabilities and impro

Lawmaker Yoon Jong-gun Says He Is Now Single-Home Owner, Vows to Challenge Speculators

Rep. Yoon Jong-gun of the Democratic Party of Korea said his previous home has been sold and he is "no longer a two-home owner." Yoon, a member of the National Assembly's Land, Infrastructure and Transport Committee, had been listed as a two-home owner in recently released asset disclosures. The disclosure drew attention because President Lee Jae-myung has said multi-home owners would be excluded from housing policy discussions, raising questions about a Land Committee lawmaker owning multiple properties. Yoon wrote on social media Monday that "my name appeared in several media reports as a multi-home owner lawmaker." He explained the background, saying, "I had purchased a new apartment in my constituency of Anseong and completed registration, while still owning the apartment where I had

Busan Unifies Five Nakdong River Estuary Parks Into Eco-Tourism Hub

The Busan Metropolitan Government is reorganizing the Nakdong River estuary area into an integrated ecological, tourism and cultural space. The plan marks a strategic shift for western Busan's development direction from conventional development to ecology-based advancement. Busan Mayor Park Hyung-jun held a policy briefing at the Busan Library on Monday and unveiled the "Nakdong Owon" (洛東五園, Five Gardens of Nakdong) vision to unify five ecological parks along the Nakdong River estuary. The plan outlines a mid-to-long-term strategy to develop the Nakdong River area into a global eco-tourism hub. The city started from the recognition that spatial identity had been fragmented by development projects carried out separately by different agencies and districts. It consolidated the ecological p

Admiral Yi Sun-sin Revived Through Media Art in Tongyeong, Namhae

The cities of Tongyeong and Namhae in South Gyeongsang Province announced Monday that they have been selected as final winners of the "2026 Regional Digital Content Competition" organized by the Ministry of Culture, Sports and Tourism. The selection is expected to accelerate the development of digital content based on the story of Admiral Yi Sun-sin. The ministry launched the competition to mark the 480th anniversary of the birth of Admiral Yi Sun-sin, aiming to support the production of digital content related to the admiral and revitalize regional cultural content. Private-sector experts evaluated entries based on digital content excellence, environmental suitability and participation of local creators. Under the selected projects, Tongyeong will present indoor and outdoor media art in

Korea Slaps Up to 19.85% Anti-Dumping Duties on Japanese, Chinese Industrial Robots

The South Korean government has decided to impose anti-dumping duties of up to 19.85% on industrial robots from Japan and China. The Korea Trade Commission (KTC) under the Ministry of Trade, Industry and Energy (MOTIE) held its 471st plenary session on Monday and voted to recommend anti-dumping duties of 17.45% to 19.85% on the imported products after reviewing the case on "dumping practices and domestic industry injury from Japanese and Chinese industrial robots." The commission made a final determination that low-price offensives by Japanese and Chinese industrial robot manufacturers have caused injury to the domestic industry. The anti-dumping duties apply to vertical articulated industrial robots with four or more axes and a payload capacity ranging from 6 kg to 600 kg. These robots

Joint Task Force Raids Shincheonji's 12 Tribes Over Tax Evasion, Embezzlement

The joint prosecution-police task force investigating allegations of collusion between religious organizations and politics has launched a compulsory investigation into Shincheonji's suspected tax evasion and embezzlement. The task force on Monday conducted search and seizure operations at more than 10 churches under Shincheonji's 12 tribes nationwide, including the Shincheonji General Assembly headquarters in Gwacheon, Gyeonggi Province, and the John Tribe's Gwacheon Church. The search warrants reportedly specified charges against Shincheonji General Assembly Chairman Lee Man-hee, including tax evasion under the Act on the Aggravated Punishment of Specific Crimes and occupational embezzlement. The raids are an extension of the task force's reinvestigation into Shincheonji's tax evasion

Korea Expands Fuel Tax Cuts, Raising Gasoline Relief to 15% and Diesel to 25%

The South Korean government has decided to expand fuel tax cuts and move up the implementation date, while also temporarily raising the oil price-linked subsidy ratio. The measures aim to stabilize consumer prices amid heightened international oil price volatility caused by the prolonged war in the Middle East. At a joint briefing by relevant ministries following an emergency economic review meeting on the 26th, the government announced it would raise fuel tax cut rates on gasoline and diesel from the current 7% and 10% to 15% and 25%, respectively. A revised enforcement decree of the Transportation, Energy and Environment Tax Act containing these measures is scheduled to pass a Cabinet meeting on the 31st of this month and be promulgated on April 1. However, the additional fuel tax cuts will be retroactively applied to shipments and import declarations filed between the 27th and 31st of this month, with refunds and deductions provided accordingly. As a result, the fuel tax on gasoline will decrease by 65 won per liter from 763 won to 698 won, and the fuel tax on diesel will drop by 87 won per liter from 523 won to 436 won. The expanded fuel tax cut measures will remain in effect through May. The government also decided to raise the oil price-linked subsidy ratio for freight trucks and buses from the current 50% to 70% through April, with an extension to be reviewed if necessary. In addition, the government plans to establish legal grounds, including amendments to the Trucking Transport Business Act, to prepare for cases where diesel prices exceed 1,961 won per liter and the subsidy payment cap is reached. Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-cheol said, "There is still room to cut fuel taxes further." He added, "We plan to pursue additional fuel tax cuts depending on international oil prices and the war situation." Under current law, fuel taxes can be reduced by up to 37%, meaning the government has left open the possibility of further cuts....

finance | Published 2026.03.26. 14:00:05 | By Kim Byung-hun

Google's 'TurboQuant' Sparks Memory Stock Selloff; Industry Calls Demand Concerns Overblown

finance

Shares of global memory chipmakers fell in unison after Google unveiled "TurboQuant," a new technology that dramatically reduces the memory usage of artificial intelligence models. Korea's semiconductor industry maintains that market concerns are overblown given the explosive growth in overall AI memory demand. According to industry sources and foreign media reports on Monday, Google Research recently published a paper on TurboQuant, a new AI compression algorithm. The technology compresses the "KV cache," a temporary memory buffer for large language models (LLMs), to a 3-bit level, reducing memory usage by at least six times without loss of accuracy. The market reacted immediately as TurboQuant was assessed as a potential solution to the memory bottleneck triggered by the scaling up of models such as agentic AI. Concerns over reduced memory consumption sent shares of major Korean memory companies lower on Monday alongside U.S.-listed Micron. In contrast, shares of CPU makers including Intel and AMD rose, highlighting the divergence. Korea's semiconductor industry views the market reaction as an overinterpretation. The technology remains at the pre-commercialization paper stage, making it premature to predict an overall slowdown in memory demand, the industry argues. "Global AI memory demand itself is growing exponentially right now," an industry official said. "Even if a technology that compresses memory usage to one-sixth is commercialized, it remains unclear how much it can offset the expanding absolute memory demand, so the actual market impact would be limited." Industry officials also drew a line on the technology's universality. "Not all Big Tech hyperscalers will adopt Google's specific technology, so the market ripple effect may be confined to a portion of the industry," another industry official said. "In the current environment of high semiconductor market volatility, this largely served as a short-term downward momentum trigger." The industry's position is that TurboQuant should not be taken at face value and that empirical data should be awaited. More detailed materials on TurboQuant are expected to emerge at a Google event in Brazil next month....

Published 2026.03.26. 11:39:24

KRX, Hong Kong Exchange to Co-Develop Joint Index

finance

Korea Exchange (KRX) and Hong Kong Exchanges and Clearing (HKEX) are launching development of a joint index combining representative companies from both markets, expanding capital market linkages across Asia. Analysts say a cross-market investment benchmark spanning Korea and Hong Kong would strengthen both exchanges' standing in the global competition for capital. According to financial investment industry sources on Wednesday, KRX and HKEX are pursuing development of a joint index that combines key stocks from both markets. The index could be unveiled as early as next month and is expected to be built around large-cap stocks representative of Korea and Hong Kong. On the Korean side, top market-capitalization names in export-driven industries such as semiconductors, automobiles, defense and nuclear power are being discussed as core constituents. On the Hong Kong side, Chinese big tech and financial stocks are cited as key candidates. A senior official at an asset management firm said, "This is more likely a cooperation discussion at the exchange level rather than something proposed by asset managers first." The official added, "Hong Kong likely had a need to include Korean stocks, considering demand from mainland Chinese investors for exchange-traded fund (ETF) investments." Analysts note that the interests of both sides aligned, as KRX also has an incentive to expand its index business. The partnership is also interpreted as a strategic move to attract global capital. Hong Kong's market is notably regaining momentum on the initial public offering (IPO) front. Hong Kong reclaimed the top spot in global IPO markets by proceeds raised last year, reaffirming its position as a fundraising hub centered on large deals. A financial industry official based in Hong Kong said, "There are growing cases of major Southeast Asian companies in Singapore, Indonesia, Thailand and elsewhere actively considering Hong Kong listings to attract global investor capital." Hong Kong's market also holds strong appeal as a fundraising channel for companies because it has a structure that can simultaneously attract both international investors and mainland Chinese capital. The Stock Connect program, which allows cross-border trading between mainland Chinese and Hong Kong stock markets, is also cited as a key competitive advantage, enabling mainland Chinese investors to invest directly in Hong Kong-listed stocks. KRX has previously co-developed indices with overseas exchanges and global index providers. In 2009, KRX jointly developed the "S&P/KRX Asia 100 Index" and the "S&P/KRX Listed Exchange Index" with S&P Dow Jones. It subsequently launched the "Korea-Taiwan IT Premier Index" with the Taiwan Stock Exchange and the "KRX-CSI Korea-China Joint Index" series in collaboration with China's CSI. Among three Korea-China joint indices developed in 2021, the most recent collaboration, the semiconductor and electric vehicle themes are still used as underlying indices for ETFs in Korea. From Hong Kong's perspective, the growing investment appeal of the Korean stock market is cited as a key driver behind the partnership. KOSPI, Korea's benchmark index, surged approximately 75% last year, recording the highest return among major global stock markets, and has continued its strong rally this year with gains exceeding 30%. A securities industry official said, "If a Korea-related index is listed on the Hong Kong exchange, it is highly likely to lead to the launch of investment products tracking it." The official added, "In that case, channels for global capital to flow into the Korean stock market would expand, further improving overseas investment accessibility."...

Published 2026.03.25. 17:57:06

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Korea Expands Fuel Tax Cuts, Raising Gasoline Relief to 15% and Diesel to 25%

finance | Published 2026.03.26. 14:00:05 | By Kim Byung-hun

Google's 'TurboQuant' Sparks Memory Stock Selloff; Industry Calls Demand Concerns Overblown

finance

Published 2026.03.26. 11:39:24

KRX, Hong Kong Exchange to Co-Develop Joint Index

finance

Published 2026.03.25. 17:57:06

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Front Page Summary March 26, 2026 (Thu) [ON AIR | Seoul Economics]

Start your day with essential insights on South Korea's economy. Our expert analysts break down the latest market movements, corporate earnings, policy changes, and industry developments that shape Asia's fourth-largest economy.

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IL Unveils Multipurpose Humanoid Robot 'ILBot Y1'

IL (307180.KQ), a Korean robotics company, said Thursday it has unveiled the physical prototype of its humanoid robot "ILBot Y1." The ILBot Y1 has been optimized for use across a wide range of industries, including entertainment and retail distribution services. The humanoid robot is designed to operate in diverse environments and can be deployed for tasks such as guidance, patrol and repetitive operations. Notably, the robot features a structure that enables artificial intelligence (AI) learning and operational optimization simultaneously based on data generated during its operation. The company is advancing its robot control and operating systems based on physical AI data accumulated from manufacturing sites. Through this, IL is expanding its business beyond simple robot supply to a ro

Published 2026.03.26. 15:54:12

Regulators Order Banks to Open, Expand LCs for Naphtha Imports by Petrochemical Firms

Financial regulators have ordered banks to open and expand letters of credit (LCs) for petrochemical companies' naphtha imports. The preemptive measure comes as the won-dollar exchange rate fluctuates around 1,500 won per dollar and sales and profits at petrochemical firms are expected to plunge in the wake of the U.S.-Iran war. The Financial Services Commission (FSC) convened a meeting with officials from commercial banks on Friday and issued the directive, according to financial industry sources on Saturday. "The FSC communicated that any disruption in the supply of naphtha, a raw material for ethylene, would have a significant ripple effect across the national economy," an industry official said. The FSC held a separate meeting to address LC management for petrochemical companies beca

Published 2026.03.26. 15:51:55

Korea's Big Four Banks Shed 1,000 Staff in One Year Despite Record Profits

Staff numbers at South Korea's four major commercial banks dropped by roughly 1,000 in a single year, even as the lenders posted record-breaking earnings year after year, ushering in an era of average annual pay exceeding 100 million won for bankers. The pace of workforce reduction is accelerating amid the industry's digital transformation. According to 2025 business reports filed with the Financial Supervisory Service (FSS) and published on June 26, KB Kookmin, Shinhan, Hana, and Woori banks employed a combined 54,210 executives and staff at the end of last year, down 1,021 from 55,231 a year earlier. By bank, KB Kookmin Bank saw the steepest decline with 538 fewer employees, followed by Shinhan Bank (302), Woori Bank (126), and Hana Bank (55). Such workforce restructuring has long bee

Published 2026.03.26. 15:38:40

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Ildong Holdings Appoints Choi Kyu-hwan as New CEO

Ildong Holdings (000230.KS), the holding company of Ildong Group, announced that its board of directors appointed President Choi Kyu-hwan as the new CEO on Monday. Choi joined Ildong Pharmaceutical in 1987 and built an extensive career in sales and marketing, serving in roles spanning over-the-counter (OTC) and prescription (ETC) drug operations, product management, branch management, clinic sales and hospital sales. He was promoted to managing director in 2014 and headed the global business division and the management support division. In 2016, he moved to Ildong Holdings, the group's holding company, where he took charge of the management support division. He is credited with overseeing the group's human resources and labor management and building a labor-management relationship based

Published 2026.03.26. 15:53:07

Daiso Expands Into Fashion With $3.50 Windbreakers, Sees Sales Surge

Daiso, Korea's largest dollar-store chain that shook up the beauty market with budget cosmetics, is now accelerating its push into fashion. Its ultra-low-price clothing strategy, combining affordability with functional features, is rapidly gaining traction amid persistent inflation. According to Asung Daiso on the 26th, the number of clothing items at Daiso surged from around 270 at the end of 2023 to approximately 300 by the end of 2024, and reached roughly 700 by the end of 2025. As of late February this year, the lineup remains at around 700 items — more than doubling over the past two years. Daiso plans to continue launching new clothing items through the remaining seasons this year. Given the steady expansion of product categories over recent years, analysts say the company's push i

Published 2026.03.26. 15:40:06

Property

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Korea to Discover 5,000 Innovative Entrepreneurs Through 'Startup for All' Project

The Korean government announced the "Startup for All Project" as a joint initiative of related ministries at the National Startup Era Strategy Meeting chaired by Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol on Sunday. The announcement is a follow-up to the National Startup Era policy direction released on January 30, containing detailed implementation plans for the Startup for All Project. The project was conceived to find alternatives to overcome the "K-shaped growth structure" polarized between large and small-to-medium enterprises and between regions. The goal is to transition to a National Startup Era where "startups" that create new industries and markets take center stage. The project introduces a new approach in which the state invests in entrepreneuria

Published 2026.03.26. 16:02:04

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Hyundai AutoEver CEO Plans Robotics SI Business Beyond Group

Ryu Seok-mun, CEO of Hyundai AutoEver (307950.KQ), a software and IT services affiliate of Hyundai Motor Group, signaled plans to expand the company's robotics system integration (SI) business beyond Hyundai Motor (005380.KS) Group operations. "We are currently discussing with all Hyundai Motor Group affiliates how to define Hyundai AutoEver's role as a robotics SI company," Ryu said in an interview with the Seoul Economic Daily at the company's research and development center in Gangnam, Seoul, on Wednesday. "Since there are areas outside Hyundai Motor Group's business as well, we are planning for both group business and external business." Ryu explained that the rationale behind exploring external business was "to enhance shareholder value." Asked whether Hyundai AutoEver's robotics b

Published 2026.03.26. 15:31:36

Kakao Confirms CEO Jung's Reappointment, Vows to Accelerate AI Push

Noh Hyun-sub

Lotte Innovate Upgrades AI Platform Language Model

Kim Ji-young

Korea Launches Nationwide AI Competition for All Ages

Seo Ji-hye

Youth Smartphone Over-Dependence Risk Group Hits Record 43% in 2024

Jang Hyung-im

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Army Commissions 788 NCOs in Year's First Ceremony, Most in Five Years

Published 2026.03.26. 16:09:36

Society

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Busan Unifies Five Nakdong River Estuary Parks Into Eco-Tourism Hub

Published 2026.03.26. 16:08:02

Admiral Yi Sun-sin Revived Through Media Art in Tongyeong, Namhae

Published 2026.03.26. 16:05:10

Sports

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HL Anyang Eyes 10th Asian Ice Hockey Title Against Hokkaido in Finals

HL Anyang, the defending champions of the Asia League Ice Hockey, are set to pursue their fifth consecutive and 10th overall title. The team, led by head coach Baek Ji-sun, will face the Red Eagles Hokkaido at 4 p.m. on June 28 at the HL Anyang Ice Rink in Game 1 of the 2025-2026 Asia League Ice Hockey Playoff Finals, a best-of-five series. HL Anyang finished second in the regular season standings with 82 points. In the semifinal playoffs, a best-of-three series, the team edged past the Nikko IceBucks 2-1, with all three games going to overtime. HL Anyang will now challenge for their 10th championship against the Red Eagles Hokkaido, who defeated the Tohoku Free Blades 2-1 in their semifinal series. The two teams have met in the finals for three consecutive seasons, with HL Anyang winni

Yang Jun-ho

Park Jeong-hun Wins KPGA Challenge Tour Opener Ahead of Main Tour Debut

Kim Se-young

NBA Considers Expansion to 32 Teams With Las Vegas, Seattle as Top Candidates

Jung Moon-young

Golfzon Simulators to Be Installed at Pebble Beach Resort

Yang Jun-ho

Lee Jung-hoo Starts as 5th Batter in Giants' MLB Opening Day Game Against Yankees

Lee Jong-ho

Woori Card Sweep KB Insurance 3-0 in Semi-Playoff, Advance to Face Hyundai Capital

Yang Jun-ho

Culture

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Lotte ON, Gmarket Offer Up to 40% Off Domestic Travel Deals

Lotte ON and Gmarket are offering discounts of up to 40% on domestic travel products through the end of May. The promotions are tied to the "Travel Month" campaign run by the Ministry of Culture, Sports and Tourism (MCST) and the Korea Tourism Organization (KTO) to boost regional tourism. Combined with each platform's own benefits, consumers can purchase travel packages to popular destinations such as Ulleungdo, Yeongwol and Jeju at reduced prices. Lotte ON, the e-commerce platform of Lotte Shopping, is running a "Spring Travel Discount Special" from April 26 through May 29. Under the slogan "Domestic Travel with Lotte ON, Excitement ON Across the Country," the event offers discounted travel products covering regions nationwide, including Gyeonggi Province, Incheon, Gangwon Province, Chun

Published 2026.03.26. 15:01:25

International

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US Expands Visa Bond Requirement to 50 Countries Ahead of World Cup

The US State Department recently announced that the number of countries subject to a $15,000 (approximately 22.5 million won) bond requirement for business and tourist visa applications will expand to 50. The US had already drastically increased the number of countries covered by the visa bond program from 13 to 38 in January. The latest addition of 12 more countries comes just three months later. Some analysts note that the move raises the entry threshold at a time when the 2026 FIFA World Cup in North America is approaching. The 12 countries newly subject to the visa bond requirement starting April 2 are Cambodia, Ethiopia, Georgia, Grenada, Lesotho, Mauritius, Mongolia, Mozambique, Nicaragua, Papua New Guinea, Seychelles and Tunisia. South Korea is not included. Thirty-eight countrie

Published 2026.03.26. 15:45:09

Iran Lays Mines, Adds Missiles Despite U.S. "Hell Will Be Unleashed" Warning

U.S. President Donald Trump has repeatedly signaled the possibility of negotiations with Iran, yet the White House has escalated military pressure, warning that "hell will be unleashed." Iran has refused direct talks and is strengthening its defensive posture, pushing the front lines into a stalemate. At a Republican Congressional Committee dinner in Washington on Monday, Trump suggested progress toward negotiations was possible, saying, "Iran wants a deal but doesn't dare say so for fear of being killed by its own people." He also said, "Iran with nuclear weapons was a cancer, and we removed it." He dismissed the impact on energy prices and stock markets as "just short-term." White House Press Secretary Karoline Leavitt said at a briefing the same day, "If Iran does not acknowledge its

Published 2026.03.26. 15:10:24