SEOUL DAILY — 24 MARCH 2026
Lee Launches Energy Conservation Campaign as Won Falls to Seventeen-Year Low; Kim Jong Un Declares Nuclear Status Irreversible, Cites Iran War; SK Hynix Orders Eight Billion Dollars in ASML Equipment
President Lee Launches National Energy Conservation Campaign Amid Iran War Crisis
President Lee Jae Myung called for nationwide energy saving measures on March 24 including shorter showers and vehicle curbs according to Reuters. Campaign responds to sustained oil crisis from Iran war Strait of Hormuz blockade.
SK Hynix Orders $8 Billion in ASML Chipmaking Equipment in Record Deal
SK Hynix placed $8 billion order for ASML chipmaking tools on March 23, largest disclosed equipment purchase in industry history. Order signals major capacity expansion amid global semiconductor competition.
Foreign Minister Cho Requests Iran Ensure Safety of Vessels in Hormuz Strait
South Korean Foreign Minister Cho directly requested Iran ensure safety of vessels inside Strait of Hormuz on March 23. Diplomatic engagement reflects Seoul concern over energy supply disruptions.
SK Hynix May Raise $10 Billion in U.S. Listing According to Korean Media
SK Hynix may pursue up to $10 billion U.S. listing according to Korea Economic Daily March 24 reporting. Potential secondary listing would strengthen U.S. capital markets access.
DRIVING THE DAY
SUMMARY: President LEE Jae Myung announced a national energy conservation campaign on 24 March calling for shorter showers and automobile usage restrictions as South Korea responds to sustained energy supply disruptions from the Iran war, Reuters reported. The won fell to 1,500 per dollar on 23 March — a seventeen-year low — before recovering as Trump announced postponement of some Iran strikes and described talks as productive. North Korean leader Kim Jong Un declared the DPRK's nuclear status irreversible in a lengthy Supreme People's Assembly speech on 22-23 March, explicitly citing the Iran conflict as justification for maintaining and expanding Pyongyang's nuclear arsenal. Kim Yo Jong rejected summit prospects with Japan on 23 March unless Tokyo abandons anachronistic ways. SK Hynix placed an eight billion dollar order for ASML chipmaking equipment on 23 March, the largest disclosed equipment purchase in industry history. Foreign Minister CHO Hyun directly requested Iran ensure safety of South Korean vessels transiting the Strait of Hormuz on 23 March. END SUMMARY.
