US Military Seeks to Triple Drone and Air Defense Spending in FY2027 Budget After Iran War The U.S. military is pushing a fiscal 2027 defense budget that would sharply increase investment in drones, air defenses and missile capabilities, citing lessons from the Iran war. The Pentagon plans to raise spending on drones and related technologies to more than $74 billion — about triple previous levels — and to put more than $30 billion into securing key munitions such as missile-intercept systems, The Associated Press reported on April 21. The proposal would significantly expand fun April 22, 2026

South Korea Justice Ministry, Seoul National University Hold Forum on 2030 Immigration Strategy South Korea’s Justice Ministry said it is shifting immigration policy away from a focus on low-skilled, low-wage labor and toward a national strategy to attract talent, as the country confronts a low birthrate and an aging population. The ministry said it held a joint forum with Seoul National University on Tuesday at the university’s Graduate School of Public Administration to discuss a “2030 immigration policy future strategy.” The event was designed to map out practical steps to carry April 22, 2026

Park Hong-geun says government's 'Vision 2045' plan will differ from past strategies Minister Park Hong-geun of the Ministry of Planning and Budget said April 22 that the government’s mid- to long-term national development strategy, “Vision 2045,” being prepared for release by year’s end, will “clearly differentiate itself from existing mid- and long-term plans.” Park made the remarks at a full meeting of the 7th Mid- to Long-Term Strategy Committee at the Korea Press Center in Jung-gu, Seoul. It was his first time attending the committee since taking office. He said S April 22, 2026

South Korea’s Kospi Closes Above 6,400, Sets Fresh Record a Day After New High South Korea’s Kospi broke above the 6,400 mark on expectations of improving semiconductor conditions and continued foreign inflows, setting a fresh record just one day after reaching an all-time high for the first time in about two months. The benchmark closed April 22 at 6,417.93, up 29.46 points, or 0.46%, from the previous session, according to the Korea Exchange. The index opened lower at 6,387.57, quickly turned higher and rose as far as 6,400.11 before finishing with gains a April 22, 2026

OCI posts 28.9 billion won Q1 operating profit, up 171.4% on year OCI said in a regulatory filing on Tuesday that it posted first-quarter consolidated revenue of 506.6 billion won ($?) and operating profit of 28.9 billion won. Revenue fell 6% from a year earlier, while operating profit jumped 171.4%. OCI attributed the profit gain to higher selling prices for key carbon chemicals products and restructuring effects, including the merger with P&O Chemical and the liquidation of OJCB, its carbon black production unit in China. By segment, the basic che April 22, 2026

Prosecutors Indict Park Wang-yeol, Alleged Philippines-Based Drug Kingpin, on Meth Smuggling Charges Prosecutors have indicted Park Wang-yeol, who is accused of smuggling and distributing drugs worth about 13 billion won ($13 billion won) into South Korea from a Philippine prison. The Suwon District Prosecutors Office’s government joint investigation unit on drug crimes said Tuesday it indicted Park in custody on charges including violating the Act on the Aggravated Punishment of Specific Crimes (psychotropic drugs). Investigators said Park imported 317 grams of methamphetamine in four April 22, 2026

43rd Weifang International Kite Festival Opens in Shandong, Expands as Culture-Tourism Event The 43rd Weifang International Kite Flying Competition and the 2026 Weifang Kite Festival opened April 18 in Weifang, a city in China’s Shandong Province. Organizers described the event as a key program in the city’s tourism-themed year. Tourists and other participants from around the world attended the spring festival. First held in 1984, the Weifang competition has expanded beyond a traditional event into a global platform that includes cultural exchange and friendship cooperation, as April 22, 2026

Taiwan’s Delta Briefly Tops NT$5 Trillion Market Cap as Shares Hit Record Taiwan power supply unit maker Delta (Taidah Electronics Inc.) saw its shares rise to NT$1,980 on the Taiwan stock market on April 20, briefly pushing its market capitalization above NT$5 trillion, the Economic Daily reported April 21. The report said buying spread after moves by institutional investors. Delta is the second company in Taiwan to exceed a NT$5 trillion market cap, after Taiwan Semiconductor Manufacturing Co., the world’s largest foundry chipmaker. Delta reported consolidat April 22, 2026

Why South Korea Sees the Global South as a Supply-Chain Lifeline, Not an ‘Alternative Market’ “Alternative market” is the label often attached to the Global South. But it no longer fits. India and Vietnam are no longer just low-cost production bases meant to replace China. With U.S.-China tensions, war in the Middle East and U.S. tariff pressure colliding, the Global South is increasingly where South Korea must operate to keep its economy resilient. In India, the shift is already visible in the numbers. POSCO’s planned 10 trillion won steel mill with JSW is hard to view as a routine inv April 22, 2026

PPP Floor Leader Song Eon-seok Calls for Major Shift in Housing Policy, Urges Unification Minister’s Dismissal Song Eon-seok, floor leader of the People Power Party, on the 22nd took aim at what he called risks tied to the Lee Jae-myung government’s real estate policy and Unification Minister Jeong Dong-young. He urged a fundamental shift in housing policy and called for Jeong’s immediate dismissal. At a news conference at the National Assembly, Song said the government’s efforts to curb housing demand have reduced listings and transactions and produced “various side effects.” He pointed to the April 22, 2026