This is apparently a common problem. I left my drill in an area that was humid for a while, and the chuck froze.
I'm sure this problem is due to use of tool / carbon steel, instead of stainless steel. And I honestly don't think there's a reason to change it. Tool / carbon steels are more durable, in ways that seem likely to be necessary in a drill chuck. And it turns out the problem is entirely fixable.
- Turn chuck as hard as you can (by hand) in the "open" direction.
- Fill tip, and both ends of chuck with PB Blaster.
- Lightly tap tip in a little with hammer.
- Repeat until you get jaws most of the way in.
- Work jaws open and closed, tapping with hammer when necessary, and occasionally adding PB Blaster. This is the long and important part.
I'm sure this problem is due to use of tool / carbon steel, instead of stainless steel. And I honestly don't think there's a reason to change it. Tool / carbon steels are more durable, in ways that seem likely to be necessary in a drill chuck. And it turns out the problem is entirely fixable.