Journalist
Lee Hugh
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South Korea’s Lee Seung-hoon reaches Olympic men’s halfpipe final, a first for the country South Korea set a new Olympic milestone in freestyle skiing as Lee Seung-hoon (Korea National Sport University) advanced to the men’s halfpipe final, the first Korean to do so. Lee qualified on Feb. 20 (Korean time) at Livigno Snow Park in Italy at the 2026 Milan-Cortina d’Ampezzo Winter Olympics. He scored 76.00 points and finished 10th, earning one of 12 final berths. Halfpipe is judged on aerial tricks performed while riding up and down a semicylindrical course. In qualifying, athletes take two runs, with the higher score counting. Lee posted his 76.00 on his first run, linking five tricks smoothly as the 13th skier to start. On his second run, he increased the difficulty but lost balance on the landing of his third jump, leaving his score unchanged. Lee has shown promise internationally. He was runner-up at the 2021 junior world championships and won bronze at a World Cup event in Calgary, Canada, in February 2024 — South Korea’s first freestyle skiing World Cup medal. He also won halfpipe gold at last year’s Harbin Asian Winter Games. The Olympic final is scheduled for 3:30 a.m. Feb. 21 at the same venue.* This article has been translated by AI. 2026-02-20 21:06:00 -
South Korea Speedskating Faces Medal Drought at Milan-Cortina Olympics South Korean speedskating is facing a crisis on the Olympic stage. Long one of the country’s most successful Winter Olympic sports after short track, speedskating has yet to win a medal at the 2026 Milan-Cortina d’Ampezzo Games, raising the possibility of finishing empty-handed. South Korea’s Olympic speedskating medal history began at the 1992 Albertville Games, when Kim Yoon-man won silver in the men’s 500 meters. Over the next six Olympics, the team added five gold, 10 silver and five bronze medals. As of the 20th, short track remains South Korea’s top Winter Olympic medal sport (27 gold, 17 silver, 13 bronze), with speedskating traditionally next. At the 2010 Vancouver Games, speedskating won three gold and two silver medals, earning more gold than short track at the same Olympics. But with three days left before the closing ceremony, South Korea still has no speedskating medals in Milan. In the women’s 500 meters, Lee Na-hyeon of Korea National Sport University placed 10th and Kim Min-sun of Uijeongbu City Hall finished 14th. In the men’s 500, prospect Kim Jun-ho of Gangwon Provincial Office placed 12th. Among the remaining events, the most realistic medal hope is Jeong Jae-won of Gangwon Provincial Office in the men’s mass start. He is scheduled to race at 11 p.m. on the 21st at the Milan speedskating stadium. Jeong is a leading national team skater who won silver in team pursuit at the 2018 Pyeongchang Games and silver in the mass start at the 2022 Beijing Games. In his third Olympics, he is trying to win a medal for a third straight Games. Jeong has shown steady form this season, winning two silver medals in mass start across ISU World Cup stops 1 through 4 in 2025-2026. Cho Seung-min, who is set to enter Korea National Sport University, will also compete in the men’s mass start, along with Park Ji-woo of Gangwon Provincial Office and Lim Ri-won, also set to enter Korea National Sport University, in the women’s mass start. Their medal chances are viewed as relatively lower. If South Korea fails to add a medal, it would mark the team’s first Olympic speedskating medal drought since the 2002 Salt Lake City Games — a span of 24 years. South Korean speedskating won medals at five straight Olympics from the 2006 Turin Games through the 2022 Beijing Games. This year’s results are expected to determine whether that run continues.* This article has been translated by AI. 2026-02-20 20:06:00 -
Entertainer Park Na-rae Questioned by Police as Suspect in Special Injury Case Entertainer Park Na-rae, who has faced allegations of mistreating her managers, appeared at a police station as a suspect. Police said Feb. 20 that Seoul’s Gangnam Police Station began questioning Park at 3 p.m. on allegations including special injury and violations of the Medical Service Act. Park had been scheduled to appear for questioning on Feb. 12 on the same allegations but postponed the date. It was reported to be her first time being questioned by police as a suspect. Earlier, Park’s former managers filed a complaint with Gangnam Police Station accusing her of special injury, defamation by alleging false facts, and violations of the Information and Communications Network Act. Park has temporarily halted her activities after the manager-abuse allegations and controversy over claims she received illegal medical procedures from a so-called “injection aunt.”* This article has been translated by AI. 2026-02-20 19:42:16 -
Choi Min-jeong Eyes Historic Third Straight Olympic 1,500m Title in Milan South Korean short track star Choi Min-jeong (Seongnam City Hall) will chase another milestone at the 2026 Milan-Cortina d’Ampezzo Winter Olympics. Choi is scheduled to race in the women’s 1,500 meters at 4:15 a.m. Friday (Korea time) at the Milan Ice Skating Arena in Italy. The event will run from the quarterfinals through the semifinals and final on the same day. The medal-deciding final is set for 6:07 a.m. After helping South Korea win gold in the women’s 3,000-meter relay, Choi has yet to take gold in an individual event at these Games. The 1,500 meters offers her a chance to finish short track’s final day with a title. The 1,500 is Choi’s signature event. She won it at the 2018 PyeongChang and 2022 Beijing Olympics and enters as the defending champion. No short track skater, male or female, has won the same Olympic individual event three straight times. If Choi wins again, she would be the first. Even including relays, the only three-peat in a single short track event remains South Korea’s women’s 3,000-meter relay, which won four straight from Lillehammer 1994 through Turin 2006. Choi has won four Olympic gold medals and two silvers. She is already tied for South Korea’s most Winter Olympic golds and tied for the most Olympic medals by a South Korean athlete across both the Summer and Winter Games. If she wins the 1,500 again, she would move into sole possession of the South Korean record with seven career Olympic medals. She would also set a new national mark with five Winter Olympic golds, while completing the first three-peat in an Olympic short track individual event. South Korea will also have Kim Gil-li (Seongnam City Hall) and Noh Do-hee (Hwaseong City Hall), both members of the relay gold team, in the women’s 1,500. The men’s team will go for gold in the 5,000-meter relay final at 5:30 a.m. Friday, led by Lim Jong-eon (Goyang City Hall) and Hwang Dae-heon (Gangwon Provincial Government), aiming to reclaim the title for the first time in 20 years.* This article has been translated by AI. 2026-02-20 18:45:00 -
Upside-Down South Korean Flag Used Repeatedly at Milan 2026 Short Track Medal Ceremonies It was disclosed after the fact that an incorrect South Korean flag was raised during short track speed skating medal ceremonies at the 2026 Milan-Cortina d’Ampezzo Winter Olympics. The organizing committee used a flag with the taegeuk symbol tilted counterclockwise — a design that differs from the official standard — during the women’s 3,000-meter relay medal ceremony held at the Milan Ice Skating Arena in Milan, it said on Feb. 19 (Korea time). South Korea won gold in the event after finishing first in the final. Choi Min-jeong, Kim Gil-li (both Seongnam City Hall), Noh Do-hee (Hwaseong City Hall), Shim Suk-hee (Seoul City Hall) and Lee So-yeon (Sport Toto) stood on the podium. The same incorrect design was also used at three other medal ceremonies: the men’s 1,000 meters on Feb. 13 (Lim Jong-eon, bronze), the men’s 1,500 meters on Feb. 15 (Hwang Dae-heon, silver) and the women’s 1,000 meters on Feb. 16 (Kim Gil-li, bronze). A Korean Sport and Olympic Committee official said Feb. 20 that for each Olympics, the government provides the organizing committee with the official flag file and the national anthem audio, adding, “This was not our mistake.” The official said the committee will decide whether to respond after an internal review.* This article has been translated by AI. 2026-02-20 18:21:00 -
Korea’s Top Business Groups Head Into Annual Meetings With Focus on Stability Major South Korean business groups will hold annual general meetings late this month to set business plans and discuss key issues. Attention is on whether Sohn Kyung-shik, chairman of the Korea Employers Federation (KEF), will win a fifth term, and whether the heads of the country’s four largest conglomerates will return to the leadership council of the Federation of Korean Industries (FKI). Also in focus is whether the Korea Chamber of Commerce and Industry (KCCI) will reshuffle executives after a controversy over what it called false information about inheritance tax. According to the business community on Thursday, FKI, KEF, KCCI and the Korea International Trade Association (KITA) will hold annual meetings from Feb. 24 to 27 to approve business plans and budgets and review last year’s results. KEF will meet Feb. 24 to decide whether Sohn will serve a fifth term. Sohn, who took office in 2018, has led the group for eight years through four renewals. If approved again, he would lead KEF for 10 years and become its longest-serving chairman. KEF has no separate rule limiting renewals, meaning another term is possible if Sohn agrees. Sohn, born in 1939, is said to have decided after lengthy deliberation given his age. With major business issues pending — including a revised labor union law set to take effect in March and proposed revisions to the Commercial Act — business leaders have argued he is best positioned to convey management’s views to the government. He has been credited with actively delivering the business community’s positions and concerns about what the article describes as anti-business legislation since the Lee Jae-myung government took office. A business community official said Sohn has built extensive networks over about 65 years of work and is widely seen as having elevated KEF from a labor-management specialist group to a broader economic organization. The official said Sohn is among the few who can communicate candidly with the government on difficult issues such as labor regulation and Commercial Act revisions, adding that many inside and outside the business community view his working relationship with the Lee government, launched last year, as solid. FKI will hold a board meeting and annual general meeting Feb. 27. With Chairman Ryu Jin having won another term last year, the meeting is expected to focus on last year’s performance, this year’s plans, and budget and settlement items. Interest has centered on whether the owners of the four largest conglomerates — Samsung, SK, Hyundai Motor and LG — will return to FKI’s leadership council, though that is seen as unlikely. The four groups rejoined FKI as member companies in 2024, but their owners have not returned to the council. The leadership council is FKI’s top decision-making body, where major business leaders discuss economic issues and policy direction. Under FKI’s predecessor, the Federation of Korean Industries, about 20 conglomerate chiefs — including Samsung’s Lee Kun-hee, SK’s Chey Tae-won, Hyundai Motor’s Chung Mong-koo and LG’s Koo Bon-moo — met regularly, but the council was dismantled after the 2017 political scandal involving state affairs. A business community official said Ryu was reported to have tried to persuade the four group owners, but they declined. The official cited heavy corporate agendas and lingering public skepticism about such a top decision-making body as reasons for their reluctance. KITA will hold its annual meeting Feb. 25 at COEX in Seoul’s Samseong-dong to report 2025 results and approve its 2026 plan and budget, as well as vote on additional appointments of non-standing vice chairmen and directors. Chairman Yoon Jin-sik, who took the post in 2024 under the Yoon Suk Yeol administration, is serving a term through February next year, and there is little discussion of selecting a new chairman. KCCI will also hold its regular general meeting late this month to report major plans and strategy and last year’s results. After the meeting, discussions are expected to begin in earnest on an executive reshuffle that Chairman Chey Tae-won has signaled. Chey previously announced five reform steps tied to the inheritance-tax false-information controversy, including a review of whether to reappoint executives and a halt to events hosted by the chamber. A business community official said leaders of major business groups were often replaced when administrations changed, drawing criticism as “parachute appointments,” but this year there are few signs of leadership changes even as terms near expiration. The official said the government and business community appear aligned in wanting practical, working-level leaders amid high uncertainty at home and abroad. * This article has been translated by AI. 2026-02-20 18:04:15 -
Korean Pharma, Biotech Firms Adjust Treasury Stock Plans Ahead of Commercial Code Revision As a third revision to South Korea’s Commercial Code nears passage, pharmaceutical and biotech companies are moving faster to reorganize their treasury stock holdings. The proposal centers on making treasury stock cancellations mandatory, prompting companies to adjust plans for cancellations or share swaps. Industry officials said the government is pushing a bill that would require newly acquired treasury shares to be canceled within one year, and existing holdings to be canceled after a six-month grace period. Pharma and biotech firms are preparing responses. Celltrion said it plans to cancel 6.11 million shares, excluding about 3 million shares set aside for compensation such as stock options, from its 12.34 million treasury shares. It also said it aims to reach an average shareholder return rate of 40% by 2027. Yuhan Corp. last month disclosed a decision to cancel treasury shares worth 36.2 billion won, following a 25.3 billion won cancellation in May last year. Under its “Value-up” program, the company has said it will cancel 1% of its outstanding common shares by 2027 and raise dividends per share by more than 30% in total compared with 2023. Some companies have opted for swaps instead of cancellations. Treasury shares held by a company carry no voting rights, but swapping them can create friendly stakes. Many listed pharma and biotech companies have friendly stakes for their largest shareholders of around 30%. Daewoong, the holding company of Daewoong Pharmaceutical, in December swapped treasury shares worth 13.8 billion won with Kwangdong Pharmaceutical, citing cancer-drug co-promotion and joint development of new drugs. Daewoong then transferred 564,745 treasury shares to U2Bio through an in-kind contribution. Kwangdong Pharmaceutical, in addition to the swap with Daewoong, sold 3.82% of its treasury shares to business partner Dongwon Systems. Samjin Pharmaceutical carried out a treasury-share swap with Ilsung IS, and Whanin Pharmaceutical conducted swaps with Dongkook Pharmaceutical, Jinyang Pharmaceutical and Kyungdong Pharmaceutical. As such transactions have increased, some in capital markets have raised concerns. Swaps between companies with overlapping interests could be used to defend management control or avoid regulation, critics say. The industry has pushed back, saying the moves are strategic rather than an end run. An industry official said, “It’s true treasury stock transactions have increased compared with before, but it’s a strategic move for co-promotion.” Jung Yoon-taek, head of the Korea Pharmaceutical Industry Strategy Institute, said the sector is more sensitive to changes in treasury stock policy. “Pharmaceutical companies have lower controlling shareholder stakes than other manufacturers, making them more vulnerable to changes in treasury stock policy,” he said, adding that “a certain level of ownership stability is needed in an industry that must sustain long-term R&D investment and tolerate high volatility.” Kim Dae-jong, a professor of business administration at Sejong University, said canceling treasury shares can lift stock prices by reducing the number of shares, but could also threaten management control because South Korea does not have a dual-class share system. “Companies have no choice but to consider all of these structural pros and cons,” he said.* This article has been translated by AI. 2026-02-20 18:03:00 -
Kakao Pay board approves CEO Shin Won-geun for reappointment, pending March vote Kakao Pay’s board on Thursday approved an agenda item to reappoint CEO Shin Won-geun, the company said. His reappointment will be finalized at the company’s annual shareholders meeting scheduled for late March. The board said Shin improved the company’s fundamentals through responsible management and a strategic expansion of its platform business, delivering both top-line growth and stronger profitability and completing a turnaround. Kakao Pay posted its first annual profit last year on a consolidated basis. Subsidiaries also showed clearer results: Kakao Pay Securities recorded its first annual profit since its launch, and Kakao Pay Insurance has continued to grow as revenue rises rapidly. Shin joined Kakao Pay in February 2018 as executive vice president and chief strategy officer, where he set growth strategies for its consumer finance platform. He was appointed CEO in March 2022 and won one reappointment in March 2024. With Thursday’s board vote, he will proceed with the process for another term.* This article has been translated by AI. 2026-02-20 18:00:00 -
Trot Singers Eun Ga-eun and Park Hyun-ho Welcome Baby Girl 10 Months After Wedding Trot singers Eun Ga-eun and Park Hyun-ho have welcomed a daughter. An official at MOM Entertainment said Feb. 20 that Eun gave birth at about 3 p.m. and that she is in stable condition and resting. Her agency previously announced in October last year that she was 22 weeks pregnant. Eun, born in 1987, is five years older than Park, who was born in 1992. The couple held their wedding ceremony in April last year.* This article has been translated by AI. 2026-02-20 17:48:15 -
Laila Edwards, First Black Player on U.S. Women’s Hockey Team, Wins Olympic Gold Laila Edwards, the first Black player on the U.S. women’s national hockey team, won an Olympic gold medal with her family in the stands. The United States beat rival Canada 2-1 in the women’s ice hockey final at the 2026 Milan-Cortina Winter Olympics at Santa Giulia Arena in Milan on Feb. 20 (Korea time), returning to the top of the podium for the first time in eight years. Edwards played a key role throughout the tournament and helped drive the attack in the final. With the U.S. trailing 1-0 late in the third period, she assisted Hilary Knight’s tying goal. The Americans then scored the winner in overtime. After the game, Edwards raised her hand toward her family in the crowd. Her 91-year-old grandmother, Ernestine Gray, was among those watching in person. According to The Associated Press, cost initially made the trip difficult. Bringing 10 family members from Cleveland Heights, Ohio, required significant expenses, and the family could afford to send only some of them. Local residents and fans then organized fundraising, and a GoFundMe started by her father raised $61,000. NFL players Travis Kelce and Jason Kelce, both from Cleveland, donated $10,000 and initially did so anonymously. In the end, 10 family members and four friends made it to the arena, and Edwards clinched the title with them watching. “Having my family here means everything to me,” Edwards said after the game. “It’s hard to put into words what it means to show the people who helped me get here my dream coming true.”* This article has been translated by AI. 2026-02-20 17:39:41