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How Korea Week helped in firming Korea-Sri Lanka bonds via fascinated hearts

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Some of the glowing talent at the Korea Week festivities.

“K-pop is more than just Korean music. It is a phenomenon that transcends borders, languages, and generations, connecting people together, said Miyon Lee, ambassador of the Republic of Korea to Sri Lanka, addressing an enthusiastic crowd at the K-Pop World Festival 2025 in Colombo.

Speaking at the grand finale held at the Bandaranaike Memorial International Conference Hall (BMICH) last Saturday, the ambassador described the event as a celebration of rhythm, creativity and cultural unity.

“I am so excited to share this evening with our fellow Sri Lankans—the vibrant rhythm and beat, creativity and the energy of K-pop—and enjoy together the talent and passion of each performer on stage, she told the packed auditorium of fans, families, diplomats and officials.

The festival, part of Korea Week 2025, drew widespread attention, featuring 14 Sri Lankan finalists selected from over 100 applicants. “This year, we received over 100 applications from passionate and talented performers across the country and it was really difficult to select 14 finalists for today, ambassador Lee noted. “My best wishes go to all the artists performing on stage.”

The Colombo event marks the beginning of the journey to the Changwon K-Pop World Festival in Korea—one of the largest global K-pop competitions. “And right here, in Colombo, we begin that journey—with your voices, your moves and your dreams, she added.

The ambassador also acknowledged the eminent panel of judges—Kevin Nugara, Ms. Mudrika Swarnathilake and Dushyanth Weeraman—who were tasked with the challenging job of evaluating the finalists. “Given the intense competition and the dynamic talents on stage, I believe the toughest job falls upon the panel of judges. Thank you for accepting our invitation and for taking up this challenging task.”

Deputy Minister of Foreign Affairs, Foreign Employment and Tourism Arun Hemachandra who attended the event as chief guest, echoed the ambassador’s sentiments and praised the performers for their exceptional energy and creativity.

“Our young Sri Lankan performers lit up the stage with their passion, bringing Korean music and dance to life in a way that truly impressed, Hemachandra said. “This is more than just a competition—it’s a stage where dreams meet opportunity.”

He added, “A heartfelt thank you to all the participants, the dedicated panel of judges and the organizers—including Miyon Lee, the Korean embassy, KBS Changwon and the Korean Cultural Center—for making this event a memorable success.”

Highlighting the broader importance of the event, Hemachandra said, “Cultural events like this bring our countries closer and give our youth the opportunity to shine on international platforms.”

The K-Pop World Festival was part of a double cultural feature hosted by the Korean embassy, which also included the Korean Ambassador’s Cup Taekwondo Championship earlier that day—both held at the BMICH.

The Taekwondo Championship, jointly organized with the Sri Lanka Taekwondo Federation, provided a competitive platform for martial artists across the country to demonstrate their mastery of Korea’s traditional martial art.

Ambassador Lee said the tournament helped deepen bilateral cooperation in sports while promoting Korean culture in Sri Lanka. “Korea Week 2025 is about fostering people-to-people ties—through music, dance, and sport. The enthusiasm from Sri Lankan youth has been overwhelming, she said.

The K-pop competition, meanwhile, unfolded to thunderous applause. Each act showcased intricate choreography, stunning costumes and heartfelt performances. Audience members—many in K-pop-inspired fashion and waving glowing lightsticks—cheered and danced along with the finalists.

By Ifham Nizam



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SriLankan Airlines Resumes Flights to Riyadh and Dubai

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09 March 2026; Colombo – SriLankan Airlines would like to inform passengers that it is resuming daily services to Riyadh tonight and Dubai tomorrow, while continuing to closely monitor the situation in the Middle East and prioritising the safety and wellbeing of its passengers and crew.

The following flights are scheduled to operate:

For more information please contact: 1979 (within Sri Lanka); +94 11 777 1979 (international); WhatsApp +94 74 444 1979 (chat only); your travel agent; visit www.srilankan.com; or follow us on social media.

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Oil prices jump above $100 for first time in four years

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Oil facilities in Tehran were hit by airstrikes at the weekend

Global oil prices have jumped above $100 (£75.11) a barrel for the first time since 2022 as the escalating US-Israeli war with Iran has fuelled fears of prolonged disruption to shipments through the Strait of Hormuz.

Iran on Sunday named Mojtaba Khamenei to succeed his father Ali Khamenei as Supreme Leader, signalling that a week into the conflict hardliners remain in charge of the country.

The US and Israel launched fresh waves of airstrikes across Iran over the weekend, hitting multiple targets including oil depots.

Major disruption to energy supplies from the region threatens to push up prices for consumers and businesses around the world.

Early on Monday in Asia, Brent crude was around 15.5% higher at $107.16, while Nymex light sweet was up by more than 17% at $106.77.

Stock markets in the Asia-Pacific region fell sharply in early trading on Monday, with Japan’s Nikkei 225 index down by more than 5% and the ASX 200 in Australia more than 3.5% lower.

Many in the markets predicted that oil would hit the $100 a barrel mark this week.

In the event it took about a minute to jump 10%, and then another 15 minutes to rise a further 10% in early Asian trading.

Last week the markets had been relatively relaxed about the seeming nightmare scenario for millions of barrels of crude and liquefied natural gas trapped in the Gulf, unable or unwilling to transit the Strait of Hormuz.

But the escalations over the weekend, alongside scenes of destruction of energy infrastructure both in Iran and across the Gulf, saw the markets take rapid fright.

The question now is where does this go? Some analysts argue that if the shutdown in the strait lasts until the end of March, we could see record oil prices above $150 a barrel.

The existing rise is likely to further increase petrol prices, and those of important derivative products such as jet fuel and vital precursors for fertilisers.

The physical supplies from the Gulf are mainly consumed in Asia.

Already however there are signs that Asian consumers are bidding up prices for US gas, with some tankers originally heading for Europe turning around in the mid-Atlantic.

US President Donald Trump responded to the jump in prices by saying that short term rises were a “small price to pay” for removing Iran’s nuclear threat.

His energy secretary told US broadcasters on Sunday that Israel, not the US, was targeting Iran’s energy infrastructure, amid some concern about rising domestic pump prices caused by the war.

(BBC)

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CMTA warns buyers of long-term costs hidden in reconditioned vehicle imports

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The Ceylon Motor Traders’ Association (CMTA) has issued a stark cautionary note to prospective vehicle buyers, warning that the initial price advantage of reconditioned imports often masks significant long-term financial risks.

By highlighting a “structural imbalance” in the current duty valuation system – which allows near-identical vehicles to be imported under a 15% automatic depreciation bracket – the CMTA argues that the lack of manufacturer-backed warranties and tropicalised specifications in the grey market could lead to a “reconditioned trap” for unsuspecting consumers. For the savvy buyer, the association suggests that the true cost of ownership is increasingly tilting the scales in favour of brand-new vehicles from authorised agents.

If two identical 2026 models are sitting on different lots, and one is significantly cheaper because it was technically “registered and de-registered” abroad, the frugal buyer’s instinct is to take the discount. But the CMTA argues that this 15% depreciation benefit – intended for genuine used cars – is being leveraged as a loophole for zero-mileage vehicles.

For the savvy buyer, this raises a fundamental question of transparency. If the entry price of a vehicle is built on a “procedural” technicality rather than actual wear and tear, where else is the transparency lacking? Does the lower price reflect a genuine saving passed to the consumer, or does it mask a lack of manufacturer-backed after-sales support?

When a buyer chooses an authorised agent, they are essentially purchasing an insurance policy against the unknown. With a five-year manufacturer warranty, the financial burden of a faulty transmission or a software glitch stays with the global giant that built the car, not the local owner. In an era where vehicles are increasingly “computers on wheels,” the technical specialised tools and genuine parts held by authorised agents are no longer a luxury – they are a necessity for longevity.

The CMTA’s perspective also invites the buyer to look at the “Big Picture.” Every time a vehicle is imported under an under-declared value or an artificial depreciation bracket, it isn’t just a loss for the Treasury; it is a blow to the country’s foreign exchange discipline.

“A savvy buyer today is more informed than ever. They realize that a “cheap” import with no service history and no tropicalised specifications may eventually become a “minus” on the balance sheet. Frequent repairs and lower resale value can quickly evaporate the initial few lakhs saved at the point of purchase. Ultimately, the choice between brand new and used is a choice between certainty and speculation,” the Association says.

The CMTA is advocating for a level playing field where duty is based on true transaction value. Until that day comes, the burden of due diligence rests on the consumer. To be a “savvy buyer” in 2026 means looking past the showroom shine and asking: Who stands behind this car if something goes wrong tomorrow?

In conclusion, CMTA says,” For those seeking long-term peace of mind, the “brand new” path – supported by a transparent duty structure and a solid warranty – remains the gold standard for steering Sri Lanka’s complex automotive landscape.”

Before signing the papers on a reconditioned vehicle, the CMTA suggests buyers evaluate the four “minus” factors against a “brand new” purchase:

By Sanath Nanayakkare

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