Korean Drug, Biotech Groups Form ‘One Team’ to Streamline Global Expansion Support A “K-Pharma Bio One Team” initiative aimed at strengthening the global competitiveness of South Korea’s pharmaceutical and biotech industry has officially launched. The Korea Pharmaceutical and Bio-Pharma Manufacturers Association said Tuesday it signed a memorandum of understanding at COEX in Seoul with the Korea Health Industry Development Institute, the Korea Bio Association and the Korea Trade-Investment Promotion Agency to cooperate on global marketing. The goal is to consolidate ove April 29, 2026

Chinese Hot Pot, Malatang and Milk Tea Chains Rush Into South Korea Chinese-language food and beverage franchises are rapidly expanding their presence in South Korea’s dining market, with once-budget Chinese fare increasingly repositioned as trendy, premium spending through malatang, hot pot and milk tea. According to industry officials on April 29, Chinese milk tea brand Chagee plans to open stores simultaneously on April 30 in Gangnam, Sinchon and Yongsan. Chagee, which reinterprets traditional tea in a modern style, opened its first store in China’s Yu April 29, 2026

Nexen Tire Q1 Operating Profit Rises 33.1% to 54.2 Billion Won on Record Sales Nexen Tire said it posted record quarterly revenue despite slowing global demand, helped by stronger sales in Europe and the United States and a higher share of higher-margin products. In an earnings filing on April 29, the company said first-quarter operating profit rose 33.1% from a year earlier to 54.2 billion won. Revenue increased 8.7% to 838.3 billion won, the highest quarterly figure on record, it said. Net profit was estimated at 61.9 billion won, up 55.3% from a year ear April 29, 2026

Experts urge balanced renewables-nuclear energy mix as supply chain risks grow Global geopolitical shifts and rising supply-chain risks are reshaping energy supply lines, prompting experts to call for a clear energy-mix strategy to secure South Korea’s stable power supply. Ajou Economy held the “2026 Ajou Economy Energy Forum” at the Press Center on the 29th and hosted a panel discussion on “Energy Mix Strategy for South Korea in the Era of Energy Security.” The session was moderated by Kim Hyeong-jun, a professor at KAIST’s Moon Soul Graduate School of Future Str April 29, 2026

KEPCO official urges proactive grid buildout as AI power demand surges "To support the spread of artificial intelligence and the expansion of renewable energy, we need a paradigm shift so that a proactively built power grid leads demand and generation," Kwak Eun-seop, head of system planning at Korea Electric Power Corp., said Tuesday. Kwak made the remarks at the “2026 Ajunews Second Energy Forum,” held at the Korea Press Center in central Seoul and hosted by Ajunews. He said surging electricity demand from data centers is turning the grid from April 29, 2026

KAIST’s Kim Hyeongjun says energy sector is central driver of climate change “Because humanity has produced energy while developing society and the economy — and inevitably emitted greenhouse gases — the core cause of climate change lies in the energy sector. To solve it, we have to break one of the links in the chain somewhere along the way.” Kim Hyeongjun, a chair professor at KAIST’s Moon Soul Graduate School of Future Strategy and Department of AI Futures Studies, made the remarks Tuesday while delivering a lecture titled “The Climate Crisis, Energy Security an April 29, 2026

LG Electronics warns of further PC price hikes if memory prices keep surging Park Sang-ho, an executive director in charge of management planning at LG Electronics’ MS division, said on April 29 during an earnings conference call that a shortage of memory semiconductors and rising prices are pushing up costs across the PC industry. “For PC products, which have a high share of memory components, the entire industry is facing a heavy burden from sharply higher costs,” Park said. “We have already applied price increases of about 15% to 20%, but if memory prices con April 29, 2026

US Targets Iran’s ‘Shadow Banking’ Network With Sanctions on 35 People, Firms The United States is stepping up economic pressure on Iran by expanding sanctions aimed at what it calls a “shadow banking” network that Washington says serves as a funding lifeline for Iran’s military, as talks on ending the war remain stalled. Reuters reported that the Treasury Department’s Office of Foreign Assets Control said Monday it had designated 35 individuals and companies for their alleged involvement in sanctions evasion and terrorism financing. OFAC said the targets helped April 29, 2026

South Korea Trains 10 UAE Presidential Guard Officers in Four-Week Protection Course The Presidential Security Service said it provided four weeks of commissioned training for 10 protection officers from the UAE Presidential Guard Command, running from late last month through April 24. The service said on April 29 the program was held at its Security and Safety Training Institute in Seoul’s Gangseo District and other sites. It said the curriculum was tailored to UAE requests while incorporating the agency’s protection capabilities. Weeks 1 and 2 covered protection theory April 29, 2026

FKI Chairman Ryu Jin Says Two-Thirds of Top 10 Groups’ New Hires Will Be Entry-Level Ryu Jin, chairman of the Federation of Korean Industries, said on the 29th that he would help address youth employment as young people struggle to find jobs. Speaking at the 2026 Korea Shared Growth Job Fair, Ryu said the country’s 10 largest business groups plan to hire a total of 52,000 people this year, up 2,500 from last year. He said about two-thirds of those hires will be entry-level young workers. In congratulatory remarks, Ryu said it is time for the government and companies to ac April 29, 2026