Journalist

Lee Hugh
  • LG Chem swings to Q1 operating loss amid EV slowdown, chemical headwinds
    LG Chem swings to Q1 operating loss amid EV slowdown, chemical headwinds SEOUL, April 30 (AJP) - LG Chem, South Korea's largest chemical maker, reported a first-quarter operating loss of 49.7 billion won ($33.4 million), swinging from a profit a year earlier, as weakening demand across its core businesses and raw material cost volatility eroded margins. The company posted consolidated revenue of 12.25 trillion won for the January-March period, down 2.6 percent from a year ago, but up 6.2 percent from the preceding quarter, according to a regulatory filing on Thursday. "Despite uncertainties stemming from raw material supply instability, profitability improved quarter-on-quarter thanks to positive inventory lagging effects from rising feedstock prices and one-off revenue recognition in the petrochemical segment," CFO Cha Dong-seok said. Cha added that LG Chem would accelerate its pivot toward high-value, high-margin businesses to build a more resilient structure against volatile economic cycles. The petrochemical division, long the company's cash cow, recorded revenue of 4.47 trillion won and operating profit of 164.8 billion won, with the European tariff refund and naphtha lagging effects bolstering an otherwise tepid quarter. The advanced materials segment posted revenue of 843.1 billion won and an operating loss of 43.3 billion won, though the deficit narrowed as cathode material shipments grew and new semiconductor materials began contributing to sales. The life sciences division brought in revenue of 312.6 billion won and operating profit of 33.7 billion won, with lower research and marketing expenses offsetting a dip in export shipment timing. Its subsidiary LG Energy Solution, the nation's largest battery maker, logged revenue of 6.56 trillion won but posted an operating loss of 207.8 billion won, dragged down by ramp-up costs at new ESS production facilities and a weaker product mix from declining North American EV pouch cell volumes. Shares of LG Chem traded at 397,000 won per stock at 1:49 p.m., 2.58 percent lower than the day before. 2026-04-30 14:08:43
  • Lee Jae-myung calls for tough punishment for fake news, abusive comments
    Lee Jae-myung calls for tough punishment for fake news, abusive comments President Lee Jae-myung said on the 30th that “fake news that shows a complete lack of humanity, and insulting comments, deserve severe punishment.” Lee wrote the message on X (formerly Twitter) after linking a news report that police had arrested a man in his 50s accused of repeatedly posting online content that disparaged the Sewol ferry disaster, the Itaewon crowd crush and the victims’ families. He warned that “police task forces will respond strictly in the future as well to fake news and comments that amount to secondary harm.” The National Office of Investigation at the National Police Agency said it arrested the man for repeatedly posting, over a long period, about 70 online items that spread false information and defamed victims and bereaved families of the Sewol and Itaewon disasters. The man is accused of continuously posting false claims and disparaging content about the Sewol and Itaewon disasters from 2021 to 2024 using platforms in and outside South Korea, police said. Police said he circulated photos of bereaved families while repeatedly mocking them with claims such as, “Sewol bereaved families were recycled as Itaewon bereaved families.” The case is the second arrest since the National Police Agency launched its unit to investigate crimes involving secondary harm in July last year.* This article has been translated by AI. 2026-04-30 14:07:41
  • Apartment Fire in Uiwang Kills Couple, Injures 6
    Apartment Fire in Uiwang Kills Couple, Injures 6 A fire broke out at an apartment building in Naeson-dong, Uiwang, south of Seoul, killing a couple in their 60s and injuring six other residents, Yonhap News Agency reported Thursday. The fire started about 10:30 a.m. on the 14th floor of a 20-story building, officials said. A man in his 60s who lived in the unit where the fire began died after falling, and his wife, in her 50s, was found dead inside the apartment. Six residents suffered minor injuries, including smoke inhalation, and were taken to hospitals for treatment. The man was initially believed to have fallen while evacuating. However, the first 119 emergency call included a report that “there was a fire on an upper floor of the apartment and someone fell,” suggesting he fell early in the fire or just before it started. Fire authorities issued a Level 1 response at 10:45 a.m., deploying about 30 pieces of equipment, including pump trucks, and about 110 firefighters. They brought the main flames under control at 11:21 a.m., lifted the emergency order after a situation assessment meeting at 12:26 p.m., and fully extinguished the fire at 12:35 p.m., about two hours after it began. Police and fire officials plan to conduct an on-site inspection to determine the extent of the damage and the cause of the fire. The building has 20 floors above ground and one basement level, with a total floor area of about 8,800 square meters and 78 households.* This article has been translated by AI. 2026-04-30 14:06:28
  • Divorce Becomes Variety-TV Material in South Korea, Drawing Mixed Reactions
    Divorce Becomes Variety-TV Material in South Korea, Drawing Mixed Reactions Celebrity divorces have become a staple of variety shows and YouTube content, turning what was once treated cautiously as private life into material for jokes and talk. Public reaction, however, remains divided. The debate resurfaced after comments by actor Ahn Jae-hyun. On April 28, a video titled “Crossing the line Son Byung-ho game. Kang So-ra shares her 15-day proposal story. Alddalcham Season 2 EP.5” was posted on the YouTube channel ‘Alttalttalhan Chamgyeon.’ The cast played the “Son Byung-ho game,” folding down fingers if a prompt applied. Comedian Heo Kyung-hwan said, “I’ve never had a wedding,” and Ahn immediately folded a finger. When others looked briefly startled, Ahn explained, “I didn’t have a wedding.” Ahn married actor Ku Hye-sun in 2016 but did not hold a separate wedding ceremony and donated the cost. The two later divorced in 2020. Since returning to TV after his divorce, Ahn has repeatedly faced on-air situations that evoke his marriage and divorce across variety shows and YouTube. Ku said on social media last year that she was uncomfortable with the divorce process being repeatedly revived through entertainment programs and headlines. “Continual and indirect references are a cowardly thing,” she wrote, warning that repeated consumption of a divorce can hurt those involved. A similar dispute has followed talk about baseball player Hwang Jae-gyun remarrying. In an episode of MBN and Channel S’ “Jun Hyun-moo Plan 3” airing May 1, Jun Hyun-moo, KwakTube and Hwang are shown on a food trip to Mungyeong. In footage released ahead of the broadcast, Jun tells Hwang, “You have to meet another woman,” raising the topic of remarriage, and Hwang appears flustered. Hwang married Jiyeon, formerly of the group T-ara, in December 2022, but their divorce mediation was finalized at the Seoul Family Court on Nov. 20, 2024. Hwang has expanded his public profile through entertainment shows after announcing he would retire as an active player at the end of the 2025 season. But as dating and remarriage are repeatedly raised whenever he appears after the divorce, some viewers have criticized what they see as a lack of consideration for the other party. Divorce may be one person’s present and past, they argue, but it is also another person’s private life. The trend extends beyond any one celebrity. In recent years, broadcasters have increasingly used divorce as a variety-show hook. SBS’ “Shoes Off, Dolsing Fourmen” centered talk by divorced male cast members including Tak Jae-hoon, Im Won-hee, Lee Sang-min and Kim Jun-ho. Premiering in July 2021, it made “dolsing” — a Korean term for divorced people — its core concept and ran for more than four years until ending with Episode 213 in December 2025. TV Chosun’s “We Got Divorced,” first aired in 2020, is also cited as a landmark in popularizing divorce-themed entertainment. It drew attention by reuniting divorced couples and having them spend time together, posting strong ratings from its debut and turning post-divorce relationships into observational TV. MBN’s “Divorced Singles” has continued for multiple seasons, focusing on dating and cohabitation among divorced men and women. Programs observing life after divorce have also emerged. TV Chosun’s “Now I’m Alone” follows the daily lives of people who have experienced divorce or are going through the process, including Jeon No-min, Jo Yoon-hee, Choi Dong-seok and Lee Yoon-jin. Producers said the aim was to focus not on the reasons or process, but on life after becoming single again and starting over. More recently, TV Chosun launched “X’s Private Life.” First aired March 17, it is a reality observation show in which one divorced spouse watches the other’s current daily life and new relationships. While the program says it aims to look at life after divorce and the process of moving on, the format — observing an ex-spouse’s private life — has raised questions about how far divorce entertainment can go without becoming exploitative. A shifting social climate has also helped divorce become a broader TV theme. According to the National Data Center’s “2025 Marriage and Divorce Statistics,” South Korea recorded 88,130 divorces in 2025, down 3.3% from the previous year. Divorce is no longer viewed as an extremely rare event, and patterns have diversified, including the highest share coming from couples married 30 years or more. That context helps explain the split in public response. Some say divorce is part of a person’s life experience and not something that must be hidden, and that more candid conversations are now possible. Others argue divorce is being consumed too casually, especially when an ex-spouse works in the same industry or the breakup involved public conflict, because a single remark can quickly revive the other person’s name and past events. The issue is not whether divorce can be discussed, but how — and how far. Turning one’s experience into humor is different from repeatedly exposing private life in a way that pulls in the other party. Broadcasters may be moving away from treating divorce as taboo, but if that shift works mainly by reopening someone’s wounds, discomfort is likely to persist.* This article has been translated by AI. 2026-04-30 14:04:52
  • China Expects 1.52 Billion Trips Over May Day Holiday, Boosting Hopes for Consumption
    China Expects 1.52 Billion Trips Over May Day Holiday, Boosting Hopes for Consumption China is bracing for a surge in travel during the five-day May Day holiday from May 1 to May 5, with expectations that the rush will help revive domestic demand. The Ministry of Transport said at a recent briefing it expects total passenger movement during the holiday to reach a record 1.52 billion trips. Average daily travel is projected at 304 million trips, up 4% from a year earlier and a new high. On May 1, the first day of the break, travel is expected to hit 344 million trips. Road travel is expected to dominate. An average of 64 million vehicles a day are forecast to be on the roads, and more than 90% of travelers are expected to use highways. Rail and air travel are estimated at more than 107 million and more than 219 million trips, respectively. The travel rush could exceed forecasts as schools in many areas begin spring break from late April to early May, effectively extending the holiday for some families. A shift from overseas trips to domestic travel is also emerging. China Daily, a state-run English-language newspaper, said the outbreak of war in Iran has pushed up jet fuel prices and increased uncertainty for international flights, strengthening preferences for domestic travel. Online travel agency Qunar said bookings for domestic long-distance trips of more than 800 kilometers rose more than 30% from a year earlier, while Spring Tour said reservations for domestic travel products increased about 20%. Wang Feng, a researcher at the Chinese Academy of Social Sciences, told the Global Times that with a longer break, both passenger transport and tourist numbers are expected to exceed last year’s levels. He said the holiday could produce broad-based gains across dining, lodging, transportation and retail. The government is also moving to spur spending. The Ministry of Culture and Tourism said it will hold about 13,700 cultural and tourism events during a “May Day cultural and tourism consumption week” and distribute consumption coupons and subsidies totaling 284 million yuan (about 61.6 billion won). Last year’s May Day holiday saw domestic tourist trips rise 6.4% from a year earlier to 314 million, while tourism spending increased 8% to 180.269 billion yuan. China’s economy grew 5% in the first quarter, but the recovery in domestic demand has been slower, with retail sales growth in March remaining in the 1% range. Expectations are high that this year’s May Day holiday will help lift consumer sentiment and add momentum to spending. At a Chinese Communist Party Politburo meeting on the 28th, Chinese President Xi Jinping stressed the need to make full use of domestic demand potential. * This article has been translated by AI. 2026-04-30 14:03:22
  • SK Square Hits 52-Week High on SK Hynix Rally
    SK Square Hits 52-Week High on SK Hynix Rally SK Square rose to an intraday 52-week high on Wednesday, lifted by strength in shares of chipmaker SK Hynix. According to the Korea Exchange, SK Square was trading at 845,000 won as of 1:39 p.m., up 15,000 won, or 1.81%, from the previous session. The stock climbed as high as 877,000 won during the session, setting a new 52-week high. The move was widely seen as reflecting expectations that SK Square’s stake value will rise as SK Hynix shares advance. SK Square is SK Hynix’s largest shareholder with a 20.5% stake and is a holding company focused on investments in information and communications technology, artificial intelligence and semiconductors. Brokerage optimism also continued. NH Investment & Securities said in a report Wednesday that it raised its target price for SK Square to 1.10 million won from 740,000 won, citing a strong semiconductor cycle and what it described as a virtuous cycle of shareholder returns. It maintained a “buy” rating. Ahn Jaemin, an analyst at NH Investment & Securities, said SK Hynix — which accounts for an “absolute” share of SK Square’s net asset value — has continued a steep rise on the back of favorable semiconductor conditions, adding that SK Square’s corporate value has been rising in tandem. Ahn said the stock’s high sensitivity reflects expectations that business expansion, including additional mergers and acquisitions within the semiconductor value chain, could emerge around SK Square. He also cited an active shareholder-return policy, including annual share buybacks and cancellations. He added that the company plans a 200 billion won cash dividend this year and said SK Square’s relatively smaller market-cap weight than SK Hynix offers a supply-and-demand advantage for benchmark-tracking institutional investors seeking to increase exposure. Ahn also said the semiconductor industry is undergoing structural change as diversified memory is adopted in line with a trend he called “layering of computation,” arguing that demand is unlikely to fade quickly. He said that supports expectations for further gains in SK Hynix shares and, in turn, SK Square’s corporate value.* This article has been translated by AI. 2026-04-30 13:56:03
  • CJ ENM Unveils AI-Assisted Feature Film, Says Costs and Time Cut Up to Sevenfold
    CJ ENM Unveils AI-Assisted Feature Film, Says Costs and Time Cut Up to Sevenfold “Watching a shot that wouldn’t come together for days get solved at once with AI made me realize how important technology is in content production.” Jung Chang-ik, head of CJ ENM’s AI Studio team, made the remarks April 30 at the “CJ ENM 2026 AI Culture Talk” event at CGV Yongsan I’Park Mall in Seoul. CJ ENM used the event to debut “Apartment (The House),” a hybrid feature film combining AI and live-action footage, and said it signals a shift in how films are made. The film was completed on a total budget of about 500 million won. CJ ENM estimated that producing it through conventional methods would have cost at least five times more. Filming was completed in just four days. The company said the project was an “efficiency experiment” aimed at cutting both cost and time while maintaining quality. CJ ENM said the key approach was to use AI to create all backgrounds and visual effects, while keeping the actors’ performances live. Actors were filmed against a green screen, then combined with AI tools for image generation, retouching and video generation. Google’s generative AI solutions, including Imagen, Nano Banana and Veo, were applied across the production pipeline. Jung said the team maximized efficiency by shooting indoors without moving to locations. He said backgrounds were simulated in detail during preproduction so actors could perform as if they were seeing the real environment on set. CJ ENM also discussed technical limits. Jung said combining different AI solutions can produce uneven color and detail, making digital color grading in postproduction more important. “Each AI output has different color characteristics, so standardizing them is essential,” he said. “The technology has advanced, but the production process still needs refinement.” CJ ENM said it does not see AI as a replacement for actors. The company said authentic acting is difficult for AI to substitute, and that a hybrid model — preserving performance while using AI for backgrounds and effects — is the most practical approach for now. Actor Kim Shin-yong said being able to see AI backgrounds and effects on set helped him stay immersed. He said it was easier to act than in traditional chroma-key shoots. Kim added that AI should be a tool that creates more opportunities to produce content, rather than replacing actors. Baek Hyun-jung, head of content innovation at CJ ENM, said efficiency gains vary by genre and directing style, but that films could see five- to sevenfold cost efficiency. She said the challenge is to use AI not simply to lower budgets, but to raise quality. Baek also highlighted a strategic partnership with Google, saying the company has foundation models strong in realistic depiction. She said CJ ENM is expanding cooperation to move beyond basic generative AI toward “narrative AI,” where storytelling and direction are central. Ahn Sung-min, director of customer engineering at Google Cloud, said AI is a tool to realize creators’ intent, not to replace creativity. He said production quality was improved by precisely analyzing video elements and generating results with consistency. Looking ahead, CJ ENM said the distinction between AI films and conventional films will gradually fade. As computer graphics once expanded the industry, the company said AI will broaden production scale and expressive range. CJ ENM said it expects AI use in film production to expand in earnest starting in the second half of the year. A CJ ENM official said the goal is to apply AI across planning, production, distribution and marketing to strengthen global competitiveness, while advancing the technology and building an industry ecosystem in parallel. 2026-04-30 13:45:21
  • OneStore Unveils All-in-One Platform Plan, Targets 2 Trillion Won in Transactions by 2030
    OneStore Unveils 'All-in-One' Platform Plan, Targets 2 Trillion Won in Transactions by 2030 South Korean app marketplace OneStore on April 30 laid out an “All in ONE Store” vision that combines downloading, payments and play on a single platform, as it moves to expand beyond a traditional app store. The company said it aims to reach 2 trillion won in transaction volume by 2030. OneStore unveiled its growth strategy for the next decade at a 10th anniversary press briefing at SKT’s T Tower in Seoul. CEO Park Tae-young said the past decade was about becoming a leading domestic app marketplace by cutting commissions, and the next phase will be about expanding the app store’s role. “We will open an era where downloading, payment and play happen on one platform,” he said. The company also introduced OneWebShop, a web-based direct-to-consumer (D2C) payment platform, and OnePlay Games, a service that lets users launch games instantly without installing them. OneStore said the additions are meant to offer developers and users more options and strengthen platform competitiveness. OneWebShop is a web-based D2C payment infrastructure offered directly by an app marketplace operator, reflecting OneStore’s experience in payments, settlement and customer support. OneStore said developers can adopt it without separate build development by using existing in-app payment integration standards. Fees, including payment gateway costs, are about 8%. About 40 products are preparing to join, and the service is scheduled for an official launch in late May. OnePlay Games allows users to run games immediately within the OneStore app without installing them. OneStore said it is working with Tencent to provide mini-game content, linking gameplay and item purchases through its login and payment infrastructure. The service is set for an official launch in May after a pilot period. OneStore said it will pursue a mid- to long-term growth strategy built around three pillars: its existing app marketplace, OneWebShop and OnePlay Games. The company said it aims to expand transaction volume and increase time spent on the platform while diversifying its growth model. It also set goals of reaching 2 trillion won in transaction volume by 2030 and providing developers with cumulative benefits of more than 1 trillion won. Park declined to commit to a renewed push for an initial public offering. “More important than when we do an IPO is how we are evaluated as a company,” he said. “An IPO is not the goal but one step in the growth process. For now, we will focus on growing the business based on OneWebShop and OnePlay.” * This article has been translated by AI. 2026-04-30 13:33:17
  • Hana Bank to Provide Up to 85 Billion Won in Support for HD Construction Equipment Suppliers
    Hana Bank to Provide Up to 85 Billion Won in Support for HD Construction Equipment Suppliers Hana Bank said April 30 it signed a business agreement with HD Construction Equipment and the Korea Credit Guarantee Fund to support shared growth in the construction equipment industry. The agreement aims to help promising small and midsize companies in the sector grow, while building a public-private cooperation framework to support next-generation technology development and expand exports. Under the deal, Hana Bank and HD Construction Equipment will set up a special contribution fund of up to 5 billion won — 4 billion won from Hana Bank and 1 billion won from HD Construction Equipment — and use it to pursue financial support totaling up to 85 billion won. The partners plan to contribute 1 billion won first and then increase the amount in stages depending on how quickly the fund is used. Support will be offered to partner companies recommended by HD Construction Equipment. Benefits include preferential guarantee coverage from the Korea Credit Guarantee Fund of up to 100%, reduced guarantee fees, and lower financial costs through loan-rate cuts and preferential exchange rates. Lee Ho-seong, president of Hana Bank, said the agreement was designed to provide practical financial benefits to small and midsize construction equipment companies struggling with high oil prices and rising raw material costs. He said the bank will continue expanding support to strengthen the stability and competitiveness of export-oriented small and midsize firms. * This article has been translated by AI. 2026-04-30 13:18:45
  • Korean Economy/Business Calendar
    Korean Economy/Business Calendar SEOUL, April 30 (AJP) - May 6 (Wed) Apr. 2026 Consumer Price Index (Preliminary) - Ministry of Data and Statistics May 8 (Fri) Mar. 2026 Balance of Payments (Preliminary) - Bank of Korea May 13 (Wed) Apr. 2026 Employment Trends - Ministry of Data and Statistics Mar. 2026 Money and Liquidity - Bank of Korea May 15 (Fri) Apr. 2026 Export/Import Prices + Trade Indices (Preliminary) - Bank of Korea May 19 (Tue) Q1 2026 Household Credit (Preliminary) - Bank of Korea May 21 (Thu) Apr. 2026 Producer Price Index (PPI) (Preliminary) - Bank of Korea May 22 (Fri) May 2026 Consumer Survey Index (CCSI) - Bank of Korea May 27 (Wed) Q1 2026 International Investment Position (Preliminary) - Bank of Korea May 2026 Business Survey Index (BSI) & Economic Sentiment Index (ESI) - Bank of Korea May 29 (Fri) Apr. 2026 Industrial Activity Trends - Ministry of Data and Statistics *1Q 2026 Tentative Earnings Release Schedule May 7 (Thu) Kakao LG Uplus Hyundai Department Store May 8 (Fri) Korean Air KT May 11 (Mon) Lotte Shopping May 12 (Tue) CJ CheilJedang SK Telecom May 13 (Wed) NCSoft 2026-04-30 13:13:31