news highlight

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  FX intervention joins as the truce in Middle East provides relief in Korean market SEOUL, April 08 (AJP) - The relief over bombardment in the Gulf brought long-awaited relief to the South Korean won and bonds, and the truce amplified Seoul’s intervention campaign, according to traders. The won closed at 1,470.6 per dollar, returning below the 1,500 level for the first time in 12 trading days. The 33.6 won gain marked the steepest daily move in about three months, since a 33.8 won jump on Dec. 24 last year amid heavy intervention. The conditional cease April 8, 2026
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  Hormuz reopening hinges on Iran control as Korean tankers await passage SEOUL, April 08 (AJP) - The United States and Iran have agreed to a dramatic two-week ceasefire centered on reopening the Strait of Hormuz, but when, how — and more importantly, at what cost — stranded South Korean vessels can pass safely remains uncertain. The presidential office in Seoul on Wednesday said the ceasefire had created conditions for resuming transit through the strait, adding that the government would step up coordination with shipping companies and commun April 8, 2026
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  Motorists required to leave their cars once a week as part of energy-saving efforts SEOUL, April 8 (AJP) - Starting from Wednesday, motorists are required to leave their cars at home once a week, depending on the last digit of their license plates, as they are unable to use public parking on certain days. The measure is part of energy-saving efforts amid the prolonged conflict in the Middle East, which has caused global energy supply disruptions as well as soaring fuel prices. Civil servants and staff at public institutions, who have been subject to a similar me April 8, 2026
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  Spy film 'Humint' rebounds on Netflix after box-office flop SEOUL, April 8 (AJP) - Director Ryoo Seung-wan's latest film "Humint" claimed the top spot on Netflix's chart for non-English movies, just a week after becoming available on the global platform, following its theatrical flop in February. According to Netflix's ranking site Tudum, the spy film garnered 11 million cumulative views in about a week after it began streaming last Wednesday, securing the top spot among non-English films. The 119-minute film als April 8, 2026
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  Africa's moment, however fragile, opens opportunities for Korea SEOUL, April 08 (AJP) - Asia has long dominated as the global economy’s growth engine, but Africa may be emerging as a formidable contender. Sub-Saharan Africa is projected to outpace Asia this year. According to the International Monetary Fund, the region’s real GDP is expected to grow 4.5 percent in 2026, compared with Asia’s 4.1 percent. Some economies are expanding rapidly: Guinea is forecast to grow 10.5 percent, Uganda 7.6 percent and Ethiopia 7.1 percent. April 8, 2026
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  Hormuz reopening hopes spark 7% KOSPI surge as oil plunges SEOUL, April 08 (AJP) - The prospect of the Strait of Hormuz reopening under a two-week ceasefire ignited Asian markets on Wednesday, sending South Korea’s benchmark KOSPI soaring nearly 7 percent. The index, after jumping as high as 5,919.60, closed up 6.9 percent at 5,872.3. A buy-side sidecar was triggered shortly after the open as the KOSPI 200 surged more than 5 percent at the opening bell. The rally was driven by a sharp reversal in global energy markets. Brent crud April 8, 2026
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  Prosecutors seek 15-year prison term for ex-first lady in appeals trial SEOUL, April 8 (AJP) - Prosecutors requested a 15-year prison term for Kim Keon Hee, the wife of disgraced former President Yoon Suk Yeol over multiple charges during an appeals trial in Seoul on Wednesday. The 15-year sentence requested by prosecutors at the Seoul High Court is the same as what they sought in the first trial. In the first ruling, delivered in January, the former first lady was sentenced to just 20 months in prison for accepting bribes including a luxury handbag April 8, 2026
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  Lawyers in Korea clash over bar pass rates amid glut and AI threat SEOUL, April 08 (AJP) - Lawyers usually fight for others, but in South Korea these days, they are fighting for themselves. The Korean Law School Student Association on Wednesday issued a statement signed by 1,024 students from 25 law schools, calling on the government to ease entry barriers by raising the bar exam pass rate to 75 percent from the current median of around 50 percent. Just days earlier, on Monday, an unseasonably chilly spring drizzle did not deter about 200 lawy April 8, 2026
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  Viet Nam readies financial hub pivot as Hanoi targets high-income status SEOUL, April 08 (AJP) - Viet Nam has secured 10 billion dollars in initial investment commitments as it formally launched a dual-hub international finance center, marking a decisive shift from its decades-long reliance on low-cost manufacturing. The project, which anchors operations in Ho Chi Minh City and Da Nang, signals the most significant economic restructuring since the Doi Moi reforms of the 1980s. This pivot toward the Viet Nam International Finance Center (VIFC) represent April 8, 2026