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Oh Se-hoon calls for centrist-focused campaign team in Seoul race

Oh Se-hoon, right, sits with other prospective candidates during a Seoul mayoral nomination interview at the People Power Party headquarters in Seoul on Sunday. Photo by Asia Today

March 22 (Asia Today) — Seoul Mayor Oh Se-hoon on Sunday renewed his call for the formation of a campaign committee aimed at broadening the party’s appeal to centrist voters, as he completed an interview for the ruling party’s Seoul mayoral nomination.

Oh, who entered the People Power Party primary late, urged party leaders to quickly launch what he described as an “innovation campaign committee” led by figures capable of attracting moderate voters.

Speaking to reporters after the interview at the party’s headquarters in Yeouido, Oh said recent opinion polls show a significant gap in party approval ratings, underscoring the need for a strategy that resonates with centrist voters in the Seoul metropolitan area.

“Without a campaign structure that can expand toward the center, winning the election will be difficult,” he said.

Oh dismissed suggestions that his proposal amounts to sidelining the party leadership under Jang Dong-hyuk, saying his goal is to balance the party’s confrontational stance against the opposition with broader electoral appeal.

“At this point, it would not make sense to ask the leadership to weaken its political stance,” he said.

He also pushed back against media reports portraying his proposal as an attempt to take control of the party or position himself for the next party convention, calling such interpretations “unintended.”

Tensions between Oh and the party leadership are expected to continue. Jang has previously rejected calls for an early launch of the campaign committee, saying it should be formed after the nomination process is completed.

While both sides agree on the need for a campaign body with wider appeal, they remain divided over the timing of its formation.

The interview marked the confirmation of a six-way race for the party’s Seoul mayoral nomination. Other candidates include Rep. Park Soo-min, former Gangdong District Mayor Kim Chung-hwan, former lawmaker Yoon Hee-sook, party official Lee Sang-kyu and business executive Lee Seung-hyun.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260323010006563

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South Korean banks tighten corporate guarantees amid risks

An illustration shows slowing growth in South Korean banks’ payment guarantees alongside a rising won-dollar exchange rate. Graphic by Asia Today and translated by UPI

March 22 (Asia Today) — South Korea’s four largest banks are tightening corporate payment guarantees as exporters face mounting pressure from U.S. tariffs and a prolonged period of high exchange rates.

The combined value of guarantees issued by KB Kookmin Bank, Shinhan Bank, Hana Bank and Woori Bank reached 79.2 trillion won (about $59 billion) at the end of last year, up 3.9% from a year earlier, according to financial industry data.

The increase marks a sharp slowdown compared with double-digit growth in previous years, reflecting a more cautious approach by banks amid rising economic uncertainty.

Banks have scaled back new guarantees as U.S. tariff policies weigh on export profitability and a weaker won raises costs for companies. The won-dollar exchange rate has hovered around 1,500 won, adding further pressure on corporate balance sheets.

Payment guarantees, commonly used by exporters, allow companies to secure financing or complete trade transactions by relying on a bank’s credit backing. If a company defaults, the bank assumes the repayment obligation.

Industry data show that firm guarantees – where the amount is fixed and the bank assumes the debt – rose 8.5% to 60.9 trillion won (about $45 billion), while contingent guarantees fell 8.8% to 18.3 trillion won (about $13.7 billion).

Analysts said banks are favoring lower-risk transactions and reducing exposure to more complex contingent guarantees, which are harder to manage.

The slowdown also reflects weaker demand. Large exporters, which drove much of last year’s trade growth, often do not require bank guarantees, while rising delinquency risks have prompted lenders to focus on balance sheet stability.

Looking ahead, growth in guarantees is expected to remain subdued as geopolitical tensions in the Middle East and global logistics disruptions continue to weigh on trade.

A prolonged period of high exchange rates could further increase risks, as most guarantees are denominated in foreign currencies, meaning their value rises in won terms even without new issuance.

Experts say stabilizing the foreign exchange market and expanding trade finance support will be key to preventing broader financial strain on companies.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260323010006560

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Experts urge ‘strategic ambiguity’ in South Korea’s response

President Donald Trump (R) makes remarks as he stands with Prime Minster Sanae Takaichi of Japan during a dinner in the State Dining Room of the White House in Washington, DC, on Thursday, March 19, 2026. Earlier in the day, the President and Takeuchi exchanged views on Iran, energy, and issues in the Indo-Pacific region. Photo by Aaron Schwartz/UPI | License Photo

March 22 (Asia Today) — South Korea should maintain “strategic ambiguity” in responding to U.S. pressure over the Middle East crisis, experts said, as tensions surrounding Iran and the Strait of Hormuz intensify.

The call comes after Donald Trump urged allies including South Korea, Japan and European partners to play a greater role following U.S. and Israeli strikes on Iran, raising concerns in Seoul about balancing its alliance with Washington and broader diplomatic interests.

South Korean officials said they are taking a cautious approach and have not received formal requests from the United States regarding potential military deployment to the Strait of Hormuz.

The government is focusing on assessing the intent behind Trump’s remarks while weighing the risks of deeper involvement in the region.

The Strait of Hormuz, a critical global energy shipping route, has long been vulnerable to disruption. Analysts say any effort to secure maritime traffic would likely require multinational coordination rather than unilateral action.

Foreign ministers from the Group of Seven nations recently condemned Iran’s attacks on civilian infrastructure and said they are prepared to take steps to support global energy supplies, though the timing of any direct action remains unclear.

A Foreign Ministry official said stability in Middle Eastern shipping lanes is vital for South Korea and other major economies, noting that ensuring safe passage is a challenge that cannot be addressed by a single country.

Experts pointed to Japan’s approach under Sanae Takaichi as a potential model. Tokyo has prioritized its alliance with the United States while limiting direct military involvement, balancing energy security, international law and domestic public opinion.

Lee Ki-tae, a senior researcher at the Sejong Institute, said South Korea should similarly avoid automatic military intervention and instead preserve flexibility.

“Maintaining strategic ambiguity allows South Korea to uphold its alliance while avoiding immediate alignment with any one side,” he said.

Park Won-gon, a professor at Ewha Womans University, said logistical and political constraints also support a cautious stance. He noted that deploying naval forces would require parliamentary approval, a process that could take about two months.

He added that evolving and sometimes inconsistent messaging from Washington further underscores the need for careful deliberation.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260323010006558

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Jim Michaelian, Long Beach Grand Prix founder and president, dies at 83

Jim Michaelian, the race car driver who helped launch the annual Acura Grand Prix of Long Beach, has died. He was 83.

The Grand Prix Assn. of Long Beach confirmed his death on Saturday, just weeks before this year’s race, which is scheduled for April 17-19.

Michaelian joined the Grand Prix Assn. of Long Beach in 1975, a then-fledgling competitive race, and grew it into one of the most popular street racing events in the world. The annual three-day event draws thousands of race car enthusiasts and brings tens of millions of dollars into the city of Long Beach.

“Jim was a leader of a small, passionate group who believed in the concept of bringing elite open-wheel competition to Long Beach in the 1970s,” said Roger Penske, Penske Corporation chairman, in a statement. “His vision and energy surrounding this great event remained boundless for 50 years.”

Penske Entertainment acquired the Grand Prix Assn. of Long Beach in 2024.

Michaelian was a competitive sports car racer for more than 25 years, competing in endurance events at tracks including Le Mans, Daytona Beach, Nürburgring, Dubai and Sebring in Florida. He told The Times in 2019 that he was still racing sports cars at 76.

“As long as I can achieve some level of success, I’m going to continue doing it until they tell me I can’t anymore,” he said then.

A native of Monterey Park, Michaelian (pronounced meh-KAY-lee-un) graduated from UCLA with a bachelor’s degree in physics. But he turned his attention to business and went on to earn an MBA there. Driven by a love of motor racing, Michaelian eventually talked his way onto the staff of the Long Beach Grand Prix.

He served as the association’s controller and chief operating officer before being appointed president and chief executive in 2001. During his 51-year tenure, Michaelian transformed Long Beach into an iconic stop in the world of motor racing.

A variety of races are run during the three days on the city’s seaside streets, culminating with a big-league IndyCar Series race Sunday. The races feature different types of cars, and one is for trucks, to appeal to a broad audience.

But the Long Beach Grand Prix is more of a festival that’s been built up around the racing. There are concerts, a lifestyle expo, a kids’ zone with go-karts and other activities, along with an array of food and drink spots, all centered on the Long Beach Convention Center and Shoreline Drive.

Michaelian said he kept the pulse of the crowd by constantly walking the track to monitor how the grand prix’s fans were enjoying the activities. He would survey for problems that might need fixing or whether changes needed to be made for the following year.

“Many young people don’t want to sit in the seats now,” he told The Times in 2019. “They’re out taking selfies, they’re chronicling their experience at Long Beach, and the only way to do that is for them to get around.

“So, if they’re moving around, I’m moving around” by creating more places where they can gather, listen to music and having food options nearby, he said then.

Last year, Michaelian was inducted into the Long Beach Motorsports Walk of Fame.

“Jim was a racer’s racer and a dear friend to IMSA and the motorsports community at large,” John Doonan, president of International Motor Sports Assn., said in a statement. “We will sorely miss his presence at Long Beach and racetracks everywhere.”

The Grand Prix Assn. of Long Beach did not release his cause of death.

Michaelian is survived by his wife, Mary, and his sons, Bob and Mike.

Former Times staff writer James F. Peltz contributed to this report.

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World Athletics Indoor Championships 2026: Keely Hodgkinson wins 800m gold

After executing a seismic record-breaking run to smash Jolanda Ceplak’s near 24-year women’s indoor 800m mark last month, Hodgkinson’s attention was fixed firmly on gold in Torun.

This was the final international podium missing from Hodgkinson’s extensive list of honours, after various injuries prevented her from competing at each of the past three editions.

The 24-year-old has also been denied in her three attempts to win world gold outdoors, achieving two silvers and one bronze.

The Briton said that she hoped it would be “fourth time lucky” indoors in 2026 – but she had to overcome misfortune even before beginning her gold medal bid, after the airline which she had travelled with lost her kit.

With her belongings delayed, Hodgkinson was forced to complete her preparations in somebody else’s spikes, which ended up giving her a blister.

But that did not affect Hodgkinson as she dominated Friday’s heat, before cruising to victory in Saturday’s semi-final in a time faster than all but one of her fellow finalist’s personal bests.

Switzerland’s Audrey Werro was the only contender with an indoor best time within three seconds of Hodgkinson’s world record mark, and the Briton’s superiority was evident as she comfortably strode clear inside the venue where she achieved her first international medal five years ago.

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U.S. President Donald Trump vows to ‘obliterate’ Iran’s power plants

March 22 (UPI) — U.S. President Donald Trump is threatening to obliterate Iran’s power plants if it doesn’t re-open the Strait of Hormuz and allow oil tankers through.

“If Iran doesn’t FULLY OPEN, WITHOUT THREAT, the Strait of Hormuz, within 48 HOURS from this exact point in time, the United States of America will hit and obliterate their various POWER PLANTS, STARTING WITH THE BIGGEST ONE FIRST!” Trump posted on Truth Social Saturday night.

CNN quoted Iran’s Parliament Speaker Mohammad ⁠Baqer Qalibaf as saying that if Trump carries out this plan, Iran will retaliate by attacking infrastructure and energy facilities throughout the Middle East, driving up the prices for oil even further than they have been for the past three weeks.

The New York Times said about 175 people were injured Sunday morning in Iranian missile attacks on Arad and Dimona, residential neighborhoods in southern Israel.

The locations are near Israel’s biggest nuclear research and reactor center.

Last week, Trump asked members of NATO, whose countries depend on the oil transported through the Strait of Hormuz, to help re-open and police the essential trade route between Iran and Oman.

Britain, Canada, France, Germany, Italy, the Netherlands and Japan responded with a statement of support that said, “We express our readiness to contribute to appropriate efforts to ensure safe passage through the Strait.”

Iran closed the waterway Feb. 28 after the United States and Israel tried to destroy Iran’s nuclear program and long-range missile manufacturing facilities.

An Iranian flag stands amid the destruction in Enghelab Square following the attacks carried out by the United States and Israel on Tehran, Iran, on March 4, 2026. Photo by Nahal Farzaneh/UPI | License Photo

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World Athletics Indoor Championships 2026: GB make history with three golds in 28 minutes

Great Britain claimed three gold medals in a sensational 28 minutes to make history and achieve the team’s best haul at a World Athletics Indoor Championships.

Georgia Hunter Bell began Sunday night’s medal rush when she stormed to her first global 1500m title, before pole vaulter Molly Caudery secured her return to the top of the podium in Poland.

A third triumph never looked in doubt as Olympic champion and world record holder Keely Hodgkinson dominated the women’s 800m final to win her first World Indoors gold.

Following Josh Kerr’s 3,000m triumph on Saturday, it guaranteed the British team’s most successful World Indoor Championships of all time, surpassing the three gold medals achieved in 1999.

Returning to the championships at which she represented Great Britain for the first time just two years ago, Olympic bronze medallist Hunter Bell reeled in Ethiopia’s Birke Haylom before bursting clear of her rivals on the final lap to win in three minutes 58.53 seconds.

Caudery, already guaranteed silver by the time her team-mate crossed the line, reclaimed the title which represented her breakthrough success two years ago with a second-time clearance over 4.85 metres.

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‘Ready or Not 2: Here I Come’: Samara Weaving is a scream

Scream queen Samara Weaving has an extraordinary yell: shrill, feral and ferocious, like a mongoose before it goes on the attack. Its vibrato fury bursts out only when she’s fighting for her life. Otherwise, her newly wed (and newly widowed) Grace MacCaullay stays quiet when being hunted, hence surviving a killer game of hide-and-go-seek in Matt Bettinelli-Olpin and Tyler Gillett’s 2019 hit “Ready or Not,” only to be forced to play again in their echoey sequel “Ready or Not 2: Here I Come.”

In the tradition of “Halloween II,” this one picks up the very second the last one ended. Grace, her white lace dress blackened with blood, is smoking a cigarette outside of an incinerated mansion that belongs to her in-laws, the Le Domas, who are all dead. On this bride’s wedding night, her groom permitted his relatives to sacrifice her to a demon, believing the lore that a wicked spirit named Le Bail gave the family its staggering fortune. They failed; she triumphed.

The first film teased the idea that the family might be superstitious crackpots only to merrily reveal at the climax that the devil is actually real — and that, when disappointed, he makes his minions explode like a shaken bottle of Dom Pérignon. That gag no longer comes as a total shock, but returning screenwriters Guy Busick and R. Christopher Murphy find that the suspense of who is going to pop, and when and why, works just as well. “It’s always surprising,” Grace says with grim humor. (Between this and “Sirāt,” human combustion is the morbid punchline of the year.)

This very silly slasher doesn’t take much seriously, although I appreciated that once Grace exhales her tobacco, passes out and comes to in a hospital bed, she’s been handcuffed to the railing by a detective (Grant Nickalls) who wants to arrest her on suspicion of arson and murder. One real-world rule holds true: Someone’s gotta take the fall when this many rich people die, even if it’s their victim.

Now, four more posh families want to get in good with Le Bail by competing to see who can kill Grace first. Did the screenwriters toss around a dozen other playground games — killer dodgeball, killer cornhole, killer freeze tag — before sticking with the same hide-and-seek set-up? The only change is that there’s more of everything, including more prey as Grace’s estranged sister Faith (Kathryn Newton) gets yoked into the action, grousing that her sibling’s “negative” energy has once again upended her life.

The host of the massacre is the powerful tycoon Chester Danforth (filmmaker David Cronenberg), a hotel and casino impresario, who entrusts the actual event planning to his adult children, twins Ursula and Titus (Sarah Michelle Gellar and Shawn Hatosy). The director of “The Fly” and “Videodrome” isn’t in the film long, but he bequeaths prestige upon these splat-hijinks that they don’t quite deserve. The paterfamilias of gut-wrenchingly emotional body horror would never make a movie like this himself, although I do think he’d be impressed when the visual-effects team makes a human face dissolve like a bath bomb.

The rest of the ensemble represents titans of some vague industry or another from around the globe: the Rajans of London, the El Caídos of Madrid and the Wans of Shanghai, each arriving with multiple family members as backup. A mobbed-up type, Wilkinson (Kevin Durand) of Atlantic City, also pursues Grace as a solo renegade. There’s not much comic zing in the idea that a handful of selfish families rule the world. Still, it’s amusing to watch these soulless ghouls refer to Grace and Faith as “things” and shrug off each other’s deaths, too. Generation by generation, this greedy lot appears to be getting lazier, intoning “Hail Satan” as offhandedly as ordering their butler to fetch them a martini.

Individual characters don’t pop (except, of course, when they quite literally do). The movie would be a bit more interesting if we knew something about each family’s backstory. The one teasing bit of historical intrigue comes when Le Bail’s lawyer (Elijah Wood) insists that the rules state each clan must attack Grace and Faith using weapons from the era in which their ancestors made their satanic pact. It never gets mentioned again, but I spun restless fictions seeing the Danforths stab the girls with railroad spikes while Olivia Cheng’s more modern Chinese heiress chased them with a drone.

There’s still an awful lot of random gunfire and not much enticement to hang onto, nor any sort of a story in this dashed-off, deadly spin on “Succession.” I’ll note that the demon is a more honest and fair negotiator than his vassals, who occasionally cheat and are punished in exactly the way you’re hoping to see.

Hatosy’s Titus is the Danforths’ disappointing fail son and the actor keeps his face in a delightfully foolish little pout. But Titus’ fever to prove that he’s his own man makes him unpredictable and dangerous — and makes him the only villain with more layers than one. Still, my favorite of the ensemble is Maia Jae’s Francesca El Caído, the jilted former lover of Grace’s late husband, who struts into the film like a hellcat, fighting for her own ego as much as Le Bail’s tempting offer of world domination. Her sloppy showdown with Grace is the action highlight.

None of this is scary. The directors, who have also dabbled in the “Scream” franchise, would rather get a laugh than a gasp. Their favorite move is a gasp-laugh, as when they flash a gruesome image on screen that’s so disgusting you can’t help but giggle.

Yet, the prankish tone keeps Grace from having much of a personality, other than a rebellious screw this. Whenever a scene gives her a chance to catch her breath, it squanders it on a go-nowhere running joke about her desperate search for a cigarette.

At least Weaving has her scream and Newton, her impressive ability to take punishment. While new to this particular series, Newton is a skilled cartographer of comedy-horror terrain as the star of “Freaky,” “Lisa Frankenstein,” and the directors’ previous film, “Abigail.” Her kooky chipmunk moxie lets her get through any script relatively unscathed, including this one. And she has one of the best laugh lines in the movie when she bats her eyes at the baddies and tries to placate them with, “You guys seem like good people.”

The sisters’ mutual antagonism has a few clever beats, like when they bicker over who had the superior working-class restaurant job, Grace waiting tables or Faith as a hostess. But the few times they’re forced to play their hurt feelings sincerely are as forced as the moment when Grace zips her gory wedding gown back on before it’s even been washed.

Nevertheless, kudos to the costume team for a different outfit that Grace wears in the second half of the film that’s an absolute jaw-dropper of goth couture with black netting and a tiara. It pairs majestically with Weaving’s defiant chin and gleaming eyes. Despite this sequel’s thin and rote stretches, it once again closes strong with a few images that will stick in your head for at least a week or two. No spoilers, but it’s no coincidence that “Here I Come” finally gets more interesting once it tires of hide and seek. Finding a fresh plot twist is the only way it ekes out a draw.

‘Ready or Not 2: Here I Come’

Rated: R, for strong bloody violence, gore, pervasive language and brief drug use

Running time: 1 hour, 48 minutes

Playing: Opens Friday, March 20 in wide release

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World Open: Thepchaiya Un-Nooh scores 147 in final win over Ronnie O’Sullivan

Thailand’s Thepchaiya Un-Nooh produced the snooker of his life, firing in a maximum 147 break and finishing with three consecutive centuries to beat Ronnie O’Sullivan 10-7 in the final of the World Open in Yushan.

The 41st seed toppled world number one Judd Trump in the semi-finals and came back from 4-0 down to beat arguably the sport’s greatest ever player in the final.

O’Sullivan hit the sport’s highest ever break of 153 on his run to a 66th ranking final and the 50-year-old Englishman had looked back to something approaching his best as he hunted down a 42nd ranking title – and first since January 2024.

“I just wanted to try my best because I didn’t know when I might be in another final again,” said 40-year-old Un-Nooh, whose only previous title came in the 2019 Shoot Out.

Seven-time world champion O’Sullivan had started the final quickly, reeling off the opening four frames in a run that included a 124 break, but the Thai world number 39 rattled off six consecutive frames thanks to some heavy scoring that included five breaks over 50.

O’Sullivan countered with three consecutive century breaks – 114, 116 and 136 – to regain the lead in a match of the highest quality, only for his opponent to level with a break of 77 then score three centuries of his own to clinch victory.

Un-Nooh’s unbelievable burst of scoring included breaks of 132 and 131, either side of his nerveless 147 in the penultimate frame, to provide a fitting climax.

The performance earned Un-Nooh a £175,000 purse in a season when he had failed to make it past the last 16 in any other tournament, while O’Sullivan had to be content with a £75,000 prize for the highest break.

“I just want to say well done to Thepchaiya who played unbelievable snooker,” O’Sullivan told the Yushan crowd.

“I watched him play against Judd Trump last night and he made the number one player in the world look second best. I was hoping he wouldn’t play like that today but he did – he gave me a good hiding, really.”

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Simultaneous megaproject filings signal Chile mining shift

Analysts say these investments in planned Chilean copper mines respond to sustained growth in global demand, driven by electrification, power grids and the energy transition File Phot by Pedro Tapia/EPA

SANTIAGO, Chile, March 20 (UPI) — Mining companies BHP and U.S.-based Freeport-McMoRan submitted two copper projects worth more than $12.5 billion combined to Chile’s Environmental Impact Assessment System, marking one of the clearest signs of a revival in mining investment in the country.

BHP, through Minera Escondida, the world’s largest copper producer, submitted the “Nueva Concentradora Escondida” project valued at $5 billion, which would allow it to continue operations by replacing the Los Colorados plant. That plant is at the end of its useful life.

The project includes an ore processing capacity of 460 thousands of tons per day in the Antofagasta region. If approved, it would begin operations between 2031 and 2032.

Minera El Abra, the Chilean subsidiary of Freeport-McMoRan, is seeking to invest $7.5 billion to extend its operations by 40 years and increase its production by more than 300,000 metric tons of copper annually starting in 2033, once it becomes operational.

The initiative includes the construction of a concentrator plant, a desalination facility, among other projects.

Analysts say these investments respond to sustained growth in global copper demand, driven by electrification, power grids and the energy transition, although they also note that they are being accelerated by a shift in the local political environment after the arrival of a government led by José Antonio Kast.

As one of its first measures, the administration introduced the National Reconstruction Bill, which includes initiatives to reduce bureaucracy and streamline permitting.

The proposal includes lowering the corporate tax rate from to 23% from 27% to align it with countries in the Organization for Economic Cooperation and Development.

Finance Minister Jorge Quiroz told local media this week that the government aims to offer clear rules, legal certainty and an agile, non-discriminatory process that respects the environment.

“This investment will move forward smoothly,” he said, referring to the Escondida project.

The president of the Chilean Mining Chamber, Manuel Viera, said about $18 billion in projects are stalled due to bureaucratic hurdles in the permitting process.

“And in just one week, the president of the republic has indicated that they should be unlocked. That is a sign that signal has been well received by investors, and we expect news like those of Escondida and El Abra to continue in the coming months because Chile also needs more and better mining,” he said.

Cristian Cifuentes, senior leader of studies and content at the Center for Copper and Mining Studies, or Cesco, told UPI that the announcements represent a clear indication of a revival in mining investment, although the trend already had been emerging without such concrete evidence.

“It is a validation of Chile as a competitive jurisdiction in a highly capital-intensive global context,” he said.

He added that while investment decisions respond to global copper demand, their execution depends “critically on local conditions: permitting, institutional stability and political signals.”

“Any improvement in regulatory certainty or pro-investment narrative accelerates decisions that, in many cases, were already in the pipeline. At the same time, these filings show that, despite recent regulatory tensions, the country maintains baseline conditions that allow investment decisions to move forward,” he said.

Víctor Frangi, managing director of Delivery & Transformation at KPMG Chile, said the country is creating more favorable conditions to activate projects, in an environment in which copper demand is projected to increase by about 40% by 2040.

“Chile approved the Framework Law on Sectoral Authorizations, which seeks to reduce permitting times by between 30% and 70%, along with the modernization of the Environmental Impact Assessment System regulations to focus evaluations on projects with significant impact,” he said.

Frangi said that Chile now offers greater business certainty and a more limited level of risk, which facilitates large-scale investment decisions.

Analysts warn, though that growing regional competition to attract mining investment exists.

“Countries such as Argentina have improved their macroeconomic environment and promoted initiatives such as the Incentive Regime for Large Investments, positioning themselves to attract large-scale projects, such as Vicuña, a joint venture between Lundin Mining and BHP, with an estimated investment of $18 billion,” Frangi said.

He added that Peru and even the Democratic Republic of Congo also show dynamism.

“Chile faces the challenge of remaining competitive against other destinations that are also capturing investment. There are replacement and efficiency projects, such as the new Escondida concentrator, and changes in the operating model, such as the advance of desalination as a standard in water use,” Frangi said.

Viera said mining companies are seeking more copper deposits amid growing global demand.

He added that armed conflicts between the United States and Iran, as well as between Russia and Ukraine, have disrupted the balance between supply and demand.

“They have broken the balance of supply and demand. As armed conflicts increase, demand rises for critical minerals used in weapons manufacturing. These are factors driving the search for copper, iron and other minerals, in addition to demand linked to the development of technologies associated with climate change,” he said.

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Hundreds of thousands protest Czech government in Prague

More than 200,000 p protested on Saturday in the in Prague, Czech Republic, to defend democratic values and civic engagement while pushing back against media pressure, defense cuts and the erosion of state institutions there. Photo by Martin Divisek/EPA

March 21 (UPI) — More than 200,000 people protested the Czech government on Saturday over their government’s alliances and policies amid concerns about democratic backsliding.

Organizers of Saturday’s rally in Prague said they were protesting Prime Minister Andrej Babis’ government as it has aligned itself with Hungarian Prime Minister Viktor Orban and Slovakian Prime Minister Robert Fico as it looks to erode press freedom and charge down an illiberal path of governing, Bloomberg and Newsweek reported.

The protest is the second since February against the government run by Babis and President Petr Pavel since they took office because of what some activists there have said are Russian-style policies that will restrict the country, Deutsche Welle reported.

“The erosion of democracy in the Czech Republic is advancing faster than we thought,” A Million Moments for Democracy, the group that organized Saturday’s protest, said in a press release.

“We will not stand by silently while oligarchs and extremists threaten the future of our country,” the organization said.

In addition to changes to public funding for media organizations, a proposal for a “foreign agent” law in the Czech Republic has raised concerns that diminish international cooperation with organizations there and give the government the ability to gain a greater level of control over humanitarian, development and human rights programs.

The media funding proposal would eliminate monthly license fees and move toward direct government funding that has raised concerns about influence from politicians.

President Donald Trump presents the Commander in Chief’s Trophy to the Navy Midshipmen football team during a ceremony in the East Room of the White House on Friday. The award is presented annually to the winner of the football competition between the Navy, Air Force and Army. Navy has won the trophy back to back years and 13 times over the last 23 years. Photo by Bonnie Cash/UPI | License Photo

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Danny Welbeck – should in-form Brighton forward go to World Cup with England?

Bayern Munich striker Harry Kane is enjoying an incredible season, having scored 47 goals in all competitions for the German side, and will lead the line for England in North America.

The question is who acts as his deputy?

Dominic Calvert-Lewin was the joint top-scoring English player alongside Danny Welbeck on 10 goals before the latter got his double and he has been called up to Tuchel’s squad.

The Leeds striker had an impressive run of form with seven goals in six games towards the end of 2025 but went into Saturday’s game against Brentford on the back of one goal in his previous eight games.

Tottenham striker Dominic Solanke was also called up but he has just three Premier League goals this season and is working his way back from a long injury lay-off.

Both have the profile to replace Kane but don’t have the form that Welbeck finds himself in.

“Welbeck is very unfortunate not to get the call-up,” Rooney added. “He’s 35 years of age but is showing no signs of slowing down.

“I think it was probably between him and [Dominic] Calvert-Lewin so he’s just missed out – but he’s having a fantastic season.”

Match of the day pundit Alan Shearer added: “He can count himself really unlucky he’s not in the squad considering the form he is in and the number of goals.

“Solanke has got three goals, Calvert-Lewin has got two in the last 12. I think he’s really unlucky not to be in that 35-man squad.”

Despite his omission, Hurzeler believes Tuchel will make the right call when it comes to naming his England World Cup squad.

“England have a really good German coach and he will make the right decisions,” he said.

He said it is vital to judge Welbeck on his importance “beside the pitch” and in creating “group togetherness”, adding: “That can be crucial for a World Cup.”

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South Korean game firms expand hit IPs into offline experiences

Visitors explore themed zones at the “Cookie Run in Lotte World Aquarium: Ocean Adventure” exhibition in Seoul. Photo by Asia Today

March 19 (Asia Today) — South Korean game companies are increasingly taking popular intellectual property beyond screens, launching immersive offline experiences to deepen engagement and diversify revenue.

The shift reflects efforts to reduce the industry’s reliance on new game releases, which can drive sharp swings in earnings. By combining well-known titles with venues such as aquariums and theme parks, companies aim to boost profitability while strengthening brand loyalty.

Experiential offerings typically include photo zones, merchandise sales and live events, creating both direct revenue and indirect benefits by encouraging players to return to games. Industry officials say the approach also opens the door to expansion into animation, performances and theme parks.

Devsisters will host “Cookie Run in Lotte World Aquarium: Ocean Adventure” from Thursday through June 7, transforming multiple floors of the aquarium into nine themed zones. The event blends eight signature Cookie Run characters with marine life, offering visitors an interactive storyline.

The exhibition also introduces an augmented reality stamp tour, allowing visitors to play mini-games on their smartphones and receive rewards such as character voice messages. Merchandise tied to the franchise will be sold on-site.

The company plans additional tie-ins, including a collaborative program at the “Sky Run,” a 123-floor vertical marathon at Lotte World Tower on April 19.

Nexon is pursuing a similar strategy with “MapleStory in Lotte World,” running through June 14 in Seoul’s Songpa district. The event features a themed “Maple Island” zone, along with recreations of in-game locations such as Henesys and Arcana.

Visitors can import or customize their in-game characters at dedicated experience zones. The event also includes retro gaming areas and themed products such as a “Red Potion” drink inspired by in-game items.

Other major firms are following suit. Krafton has operated pop-up stores based on “PUBG: Battlegrounds,” while Netmarble has hosted events featuring its “Kungya Restaurants” franchise.

“As pop-up stores, exhibitions and collaborations expand, game-based cultural content will become more diverse,” an industry official said.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260319010005893

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Fire at Korean car parts factory kills 14, injures nearly 60

1 of 2 | Firefighters search for missing people at a car parts plant after a large fire engulfed the building in Daejeon, South Korea, Friday. Photo by Yonhap/EPA

March 21 (UPI) — A fire at a Daejeon, South Korea, car parts factory Friday has killed at least 14 people and injured dozens more.

There were nearly 60 injured in the fire in a three-floor plant. The Ministry of the Interior and Safety said that some of the injured had inhaled smoke, and some were injured when they jumped from the building. It said 25 were seriously injured, but it didn’t say if any were in life-threatening condition. There were 170 people inside when the fire erupted.

Nam Deuk-woo, fire chief of the city’s Daedeok district, said almost all of the bodies were found inside a third-floor space that had been used as a gym locker room, The New York Times reported. Some bodies were so badly burned it will take DNA testing to identify them.

Nam said workers recovered more than 220 pounds of highly reactive chemicals from the site before firefighters could spray water on the fire, and some witnesses have reported that there was an explosion when the fire began.

All of those missing have now been found, The Guardian reported.

Officials said they are still investigating the cause of the fire.

Firefighters said they couldn’t enter the structure earlier for fear of collapse.

They used unmanned robots Friday to cool the structure and do a safety inspection before they were able to go in and search for missing workers.

Daejeon is in central South Korea.

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Tax hikes risk pushing up rents in Seoul housing market

A woman passes by property prices displayed at a realtor’s office in Seoul, South Korea. Photo by YONHAP / EPA

March 20 (Asia Today) — This commentary is the Asia Today Editor’s Op-Ed.

With Seoul apartment values posting their biggest increase in five years, concerns are growing that a heavier property tax burden will spill into the Jeonse and monthly rental markets. Jeonse is a unique Korean housing lease system where tenants pay a large lump-sum deposit instead of monthly rent, and get it back at the end of the lease.

Landlords are already showing signs of passing higher holding costs on to tenants through steeper rents and larger Jeonse deposits. If the government now moves to raise taxes further, including on single-home owners whose properties are deemed non-residential, it risks worsening instability in the rental market.

According to the Korea Real Estate Board, Seoul apartment Jeonse prices rose for a 57th straight week as of the second week of March, with the cumulative increase reaching 4.79%. Monthly rents climbed even faster. In February, the average monthly rent for an apartment in Seoul stood at 1.515 million won, or about $1,010, up 12.5% from a year earlier.

The sales market, by contrast, has cooled. Apartment prices in Seoul’s three Gangnam districts and Yongsan-gu have fallen for four consecutive weeks. But the Jeonse and monthly rental markets are becoming more unstable as new apartment supply shrinks and listings for existing units tighten. The shortage has been aggravated by the reinstatement in May of a capital gains tax surcharge on owners of multiple homes.

Against that backdrop, higher officially assessed home values are likely to add even more upward pressure on rents. The Ministry of Land, Infrastructure and Transport said this year’s official values for multifamily housing in Seoul rose 18.67% from a year earlier. That was the third-largest increase on record, behind only 2007 and 2021, both periods of sharp home-price gains.

In the three Gangnam districts and the Mapo-Yongsan-Seongdong area, where assessed values climbed more than 20%, many homeowners could see property tax bills rise by more than 50%. Even without a revision to tax law, the annual burden can increase by as much as 50%. Once local education taxes and the rural special tax are included, the actual increase can be even greater.

The number of single-home owners subject to the comprehensive real estate tax also rose sharply. Homes assessed above 1.2 billion won, or about $800,000, now total 487,362, up 170,000 from a year earlier.

For many elderly homeowners living on national pension payments, interest income or dividends, annual property taxes running from several million won to tens of millions of won can be difficult to absorb. Assessed values are also used to calculate regional health insurance premiums and can affect existing pension burdens, making the overall impact even heavier.

South Korea has already seen what happens when landlords shift tax costs onto tenants. During the previous progressive administration, rising tax burdens contributed to sharp increases in monthly rents and Jeonse deposits. Past data show that when the property tax rate rises by 1 percentage point, about 30% of the additional burden is passed on through Jeonse deposits and roughly 40% to 50% through monthly rent.

Even so, the government is considering higher property taxes or smaller long-term holding deductions to curb what it calls high-value single-home investments used for non-residential purposes. But real estate taxation can have broad collateral effects. If efforts to suppress housing prices go too far, tenants may once again end up paying the price.

The government should scrap any reckless plan to raise property tax rates on single-home owners.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260319010005978

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Lin Yu-ting cleared to compete again by World Boxing after sex test

World Boxing said that an appeal process initiated by the Chinese Taipei Boxing Association (CTBA) on behalf of Lin, and conducted in line with its mandatory sex testing, had been completed.

The test is used to detect a specific gene which World Boxing said “reveals the presence of the Y chromosome that is an indicator of male biological sex”.

World Boxing’s policy includes an appeal process so boxers that screen positive for the SRY gene can lodge an appeal and provide supporting evidence.

The body said following an initial test in 2025, the CTBA began the appeal process and submitted a series of medical documents.

“The World Boxing Medical Committee considered and evaluated the medical documentation presented and determined that the boxer was deemed to be female and eligible to compete in the female category,” it said.

Tom Dielen, secretary general of World Boxing, added: “We recognise that this has been a difficult period for the boxer and the CTBA, and appreciate the way they have approached the appeal process and their acknowledgement of World Boxing’s requirement to ensure that its eligibility policy, which is designed to deliver safety and sporting integrity, has been correctly implemented and followed.”

The CTBA said in a statement: “This is a tremendous relief for Lin Yu-ting.

“We are pleased that World Boxing’s independent medical experts thoroughly reviewed all evidence and confirmed that she has been female since birth, meeting the requirements, with no competitive advantage, and ensuring her rightful place in the women’s category.

“We recognise World Boxing’s responsibility to uphold safety and fairness in competition, and we appreciate the professional and rigorous manner in which this matter was handled.”

Algeria’s Khelif said earlier this year she would also be willing to take World Boxing’s new sex test, if it would allow her to defend her title at the 2028 Olympic Games in Los Angeles.

The CTBA added: “Lin Yu-ting’s return marks a significant moment for both her career and the broader sporting community, reinforcing the principles of fairness, transparency and athlete welfare in international boxing.”

Lin has now been registered to take part in the upcoming Asian Boxing Championships, which take place in Mongolia from 29 March to 10 April.

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Seoul mayor hopeful Kim pledges rent freeze, 100,000 homes

1 of 3 | Kim Hyung-nam, a preliminary Seoul mayoral candidate from the Democratic Party, speaks during an interview with Asia Today in Seoul. Photo by Asia Today

March 20 (Asia Today) — Kim Hyung-nam, a Seoul mayoral hopeful from the ruling Democratic Party, said Friday he would freeze rent increases and expand public rental housing if elected, framing housing insecurity as the city’s most urgent problem.

Kim, a former secretary-general of the Military Human Rights Center, told Asia Today he would seek to separate the sales market from the rental market to help stabilize housing costs in Seoul. He said he would pursue a temporary 0% cap on rent increases during his term.

Born in 1989, Kim described himself as a younger candidate but said he does not support a separate youth platform. He said problems facing younger residents should be treated as issues affecting all generations, arguing that unresolved housing and economic pressures on people in their 20s and 30s will eventually weigh on broader society.

At the center of his housing agenda is a proposal for the Seoul city government to buy villas and multifamily homes and secure 100,000 public rental units. Kim said public authorities must take the lead in the rental market to reduce housing instability and curb rent burdens.

He also criticized redevelopment policies around university districts, saying they failed to reflect steady demand for small rental units and helped drive up monthly rents by reducing supply.

On broader regional policy, Kim said Seoul’s high housing costs are worsening overcrowding in the capital region. He said people should move to other regions because of opportunity, not because they are priced out of Seoul. For that reason, he called proposals to absorb parts of Gyeonggi Province into Seoul a step backward rather than a fundamental solution.

Kim also pointed to his decade of activism on military human rights issues as evidence of his administrative ability, saying his experience in budget oversight and policy advocacy prepared him to move from criticism and proposals to planning and execution.

He said his broader political goal is to make Seoul a city where people can live without being pushed to the edge by housing and living costs, and pledged to protect what he called “citizens’ tomorrow.”

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260319010005894

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Coupang interim CEO joins overnight to dawn delivery shift

Coupang interim CEO Harold Rogers takes part in an overnight to dawn delivery shift in Seongnam, South Korea. Courtesy of Coupang

March 20 (Asia Today) — Coupang interim CEO Harold Rogers joined an overnight to dawn delivery shift in Seongnam, south of Seoul, after accepting a lawmaker’s request at a National Assembly hearing to experience the job firsthand. Rogers worked from 8:30 p.m. Wednesday to 6:30 a.m. Thursday, taking part in the full process from loading to delivery, according to Coupang and local media reports.

The overnight shift followed a proposal made by Democratic Party lawmaker Yeom Tae-young during a parliamentary hearing in December, which Rogers agreed to at the time. Coupang said the experience was intended to deepen management’s understanding of field operations and strengthen trust by following through on that commitment.

Rogers and Yeom began at Coupang Logistics’ delivery camp in Yatap, where they completed safety training and helped load packages. They then rode with a directly employed Coupang delivery driver, known as a “Coupang Friend,” and delivered orders to apartments, villas and detached homes across Jungwon-gu.

Coupang said it would use the experience to accelerate workplace improvements and strengthen safety management by reflecting feedback from the field. Rogers said he was proud of all Coupang workers, including delivery staff, and pledged to continue building what he described as safe and advanced working conditions.

Separately, Coupang Fulfillment Services said it will begin holding job fairs Monday in Suwon, Daegu and other locations to recruit logistics workers as Rocket Fresh expands. The company said the events will use a one-stop hiring format covering consultation through interviews.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260320010006133

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South Korea defense agency vows overhaul to become top exporter

South Korea’s Defense Minister Lee Jong-sup (2-L) attends a ceremony to unveil the signboard of the Defense Acquisition Program Administration (DAPA) at the agency’s new home in Daejeon, some 164km south of Seoul, South Korea. File Photo by YONHAP / EPA

March 20 (Asia Today) — South Korea’s arms procurement agency has pledged a sweeping overhaul of its systems and export strategy as it pushes toward the government’s goal of becoming one of the world’s top four defense exporters. The Defense Acquisition Program Administration, or DAPA, is South Korea’s defense procurement agency, and it is now led by Administrator Lee Yong-cheol.

Speaking at a briefing with defense reporters in Seoul on Wednesday, Lee said the agency would press ahead with faster decision-making, stronger export execution and greater technological self-reliance. He said the current moment amounted to a last chance to reform an organization long criticized for inefficiency and delay.

Lee said DAPA’s export drive must go beyond ceremonial overseas trips and focus instead on securing contracts and building practical business outcomes. But he also acknowledged that export growth alone is not enough if the underlying system remains slow and structurally weak.

One of the clearest examples, he said, was the long-delayed KDDX next-generation destroyer program. The project drifted for more than two years as authorities failed to make a policy choice between direct contracting and open bidding, exposing what Lee described as a deeper decision-making problem rather than a regulatory one.

Lee said South Korea also remains behind in drone warfare capabilities. While drones have become central to modern combat, the country’s military systems are still focused largely on reconnaissance, with limited strike and interception capacity and continued dependence on imported core components. He said DAPA plans to rely more heavily on rapid acquisition and early deployment of prototypes to speed fielding.

Defense semiconductors remain another major vulnerability. South Korea depends heavily on foreign technology for key components used in radars, guided weapons and communications systems, a weakness Lee described as an urgent national task. He said the answer lies in building stronger links between the civilian semiconductor sector and military demand while sustaining long-term investment.

Lee also pointed to Canada’s submarine procurement program as a major test of South Korea’s export competitiveness. He said the outlook was not unfavorable but remained uncertain, describing the bid as a national effort involving diplomacy, industry and military capabilities. Yonhap reported Friday that Lee sees the contest as essentially even, with South Korea competing against Germany for a contract covering 12 submarines.

DAPA said it will also seek structural reforms to prevent repeated delays, including penalties for intentional slowdowns and changes to procurement procedures that can trap projects in repeated failed bidding cycles. Lee has instructed staff to move from planning-based administration to execution-based management, with clear deadlines and accountability.

The agency’s challenge now is whether it can turn reform rhetoric into durable institutional change. For South Korea to become a top-tier defense exporter, industry officials say, speed, structure, technology and political resolve will all need to advance together.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260320010006140

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Seoul mayor hopeful Kim Young-bae pledges practical fixes

1 of 3 | Kim Young-bae, a preliminary Seoul mayoral candidate from the Democratic Party, speaks during an interview with Asia Today in Seoul. Photo by Asia Today

March 20 (Asia Today) — Kim Young-bae, a lawmaker and preliminary candidate for Seoul mayor from the ruling Democratic Party, said Thursday he would focus on practical policies to improve daily life for residents, promising to “give back one hour a day” by reducing commuting, caregiving and administrative waiting times.

Kim, a former Seongbuk district mayor and former presidential secretary, described himself as the most prepared candidate in the June 3 local election, citing experience in local administration, national politics and foreign affairs.

“What citizens really want is for someone to change even a small part of their lives,” Kim said in an interview with Asia Today. “The times call for practical politics and bread-and-butter politics focused on people’s lives, not ideology or division.”

Kim said his central campaign theme is “time inequality,” arguing that long commutes, caregiving burdens and inefficient public services leave residents with less time to plan their lives or pursue new opportunities.

As part of that agenda, he proposed high-density mixed-use development in four central Seoul areas – Yeongdeungpo, Sinchon, Cheongnyangni and the Dongdaemun Stadium area – to expand affordable housing near jobs. He also called for a better-linked public transit system connecting electric bikes, neighborhood buses, subways and city buses to create what he described as a more comfortable “10-minute station area.”

Kim said his strength over primary rivals lies in what he called a combination of administrative ability, political skill and global perspective. A two-term lawmaker, he currently serves as the ruling party’s senior member on the National Assembly Foreign Affairs and Unification Committee and as secretary-general of the Korea-U.S. Parliamentary Alliance.

He also criticized incumbent Seoul Mayor Oh Se-hoon, saying Oh should not seek another term after serving a combined 10 years in office. Kim pointed to a recent audit involving the Han River Bus project and argued that Seoul needs new leadership.

Among his other campaign proposals, Kim pledged to turn Seoul into a K-culture hub city and promote multi-core growth zones around gateway areas bordering Gyeonggi Province to reduce long commutes and ease congestion.

Kim said he wants to work with President Lee Jae-myung to usher in an era of practical politics that delivers tangible results for citizens.

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260320010006220

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South Korea audits oil agency over 900,000-barrel overseas sale

An official at the Korea National Oil Corp. (KNOC) briefs reporters at the KNOC main office in Anyang, south of Seoul, South Korea. Photo by YONHAP / EPA

March 20 (Asia Today) — South Korea’s Industry Ministry has launched an audit of the Korea National Oil Corp. after about 900,000 barrels of crude stored under the country’s international joint stockpiling program were sold overseas without the state oil company exercising its priority purchase right, according to Asia Today and the ministry.

The oil had been owned by a foreign company and stored at a reserve facility in Ulsan under a program that allows overseas suppliers, including oil-producing countries and foreign firms, to use South Korea’s spare storage capacity. In an emergency, South Korea is supposed to have the first option to buy that oil.

The ministry said the Korea National Oil Corp. did not immediately exercise that right before the crude was sold abroad. It added that the audit would determine whether the company violated internal rules or procedures.

The international joint stockpiling program began in 1999 as part of efforts to stabilize domestic oil supply and demand.

The ministry said any confirmed violations would result in strict disciplinary action.

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260320010006239

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