Journalist
Lee Hugh
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Haitai’s Palazo Launches P.FREDDO Gelato Line for Convenience Stores Italian gelato brand Palazo is moving into convenience-store distribution, aiming to make premium gelato easier to buy. Haitai Confectionery said on the 29th it is launching P.FREDDO, a Palazo brand made exclusively for retail distribution channels. Sales begin at GS25 on the same day, with a buy-one-get-one-free promotion running through May. The company said this is the first case of gelato, rather than ice cream, being sold at a convenience store. Haitai Confectionery plans to expand placements to additional distribution channels within the year. P.FREDDO reflects the premium identity of Palazo’s parent brand, “Palazzo del Freddo.” The company said it emphasizes originality based on the tradition and know-how of the FASSI family, a Rome gelato maker whose craft has been passed down for five generations since 1880. Palazo previously relied on handmade production methods, making large-scale distribution difficult. Haitai Confectionery said upgraded facilities and accumulated manufacturing expertise now allow mass production while maintaining gelato’s distinctive texture, enabling sales beyond specialty shops and into everyday retail outlets such as convenience stores. The initial lineup includes two flavors: “Fresh Chocolate” and “Fresh Yogurt Strawberry.” The company said both were among the top-selling menu items at its stores and are designed to appeal to a broad range of consumers. It said the products reduce air content to preserve gelato’s chewy texture and highlight the natural flavors of ingredients such as fresh chocolate and fresh yogurt. A Palazo official said consumers can enjoy the original gelato’s chewy texture and flavor by leaving it at room temperature for about three minutes. The official added that the company will broaden distribution beyond GS25 and expand the product lineup to lead South Korea’s premium gelato market.* This article has been translated by AI. 2026-04-29 13:54:29 -
Shinjo Logitec CEO Kwon Soon-wook Eyes Global Growth in Specialized Logistics "I’m confident we can take full responsibility for logistics transport that others can’t do — and that everyone will be satisfied with," Kwon Soon-wook said. Kwon made the remarks April 24 at Shinjo Logitec’s headquarters in Busan. Founded in 1998, the company has built 27 years of expertise in specialized cargo logistics and is combining ultra-heavy transport capability with digital technology to expand in global markets. Its track record includes work on the International Thermonuclear Experimental Reactor, or ITER. After being selected in 2015 as an official logistics provider for the ITER construction project, Shinjo Logitec transported ultra-precision fusion equipment — with a tolerance of 0.001 millimeter and weighing up to 600 tons — to the site in France, the company said. It said a government agency awarded it a letter of appreciation last year in recognition of that work. More recently, Shinjo Logitec said it successfully transported 478 metric tons of oversized equipment for a major South Korean company. It reported revenue of 44.2 billion won as of 2025 and said it has set a revenue target of 70 billion won for this year. Kwon said the company’s next push centers on digital transformation and advanced technology. He pointed to “1BOX.Click,” a container loading optimization program that systematizes Shinjo Logitec’s container loading plan, or CLP, know-how using AI algorithms. The program automatically calculates site constraints and route-by-route freight rate ratios to produce an optimal loading plan, the company said. It said it plans to expand the tool into a smart logistics platform with real-time recalculation on tablets and links to augmented reality. Shinjo Logitec said the system can cut logistics costs by at least 5 million won per shipment. A company official said the approach goes beyond filling space, adjusting placement by precisely calculating a cargo’s center of gravity. The official said that know-how helps maximize transport safety. The company said it will begin a demonstration test of a dehumidifying container by the end of May to address corrosion issues. It also said it plans to break ground on a specialized logistics plant in Gwangyang in the second half of 2026. Kwon said Shinjo Logitec’s core strength is a “one-stop turnkey solution” that covers everything from route-optimization simulations to unloading and final placement. He said the company will continue investing in research and development and upgrading digital technology to become an innovation-driven leader in global logistics.* This article has been translated by AI. 2026-04-29 13:48:39 -
Barrel Signs China Distribution Deal With Tianma Sports to Expand Sales Watersports brand Barrel Co. said it is accelerating its push into China through a partnership with Chinese sports distributor Tianma Sports. Barrel, led by CEO Park Young-jun, said it signed an exclusive distribution and export agreement with Tianma Sports on the 24th. The deal reflects a minimum purchase target agreed by both sides and is valued at about 26 billion won based on export prices. Actual shipment volumes and timing will be set sequentially through individual orders, and the companies plan to expand transaction volumes in stages over the contract period based on initial annual supply quantities. Tianma Sports is a major Chinese sports distributor that handles more than 60 global sports brands, including Nike, Adidas and Under Armour, Barrel said. It has experience operating brand stores on major e-commerce platforms such as Tmall and JD.com, and it runs a 300,000-square-meter smart logistics center that supports nationwide distribution in China. Barrel said Tianma Sports also has strong marketing capabilities on major Chinese digital platforms including TikTok, Xiaohongshu and WeChat. Barrel plans to use Tianma Sports’ online distribution and local marketing infrastructure to raise brand awareness in China. Barrel said the agreement is also significant because it marks a shift in how it operates in China. The company plans to move away from a China-subsidiary-led model to a local-partner distribution structure, aiming to reduce fixed costs and inventory risk while improving profitability and scalability. Barrel said it will prioritize a “Digital First” strategy in China, expanding distribution mainly through key e-commerce platforms such as Tmall and JD.com, then adding offline stores in a phased retail approach. Under the plan, Barrel said it will broaden placements on major online platforms this year. Starting in 2027, it plans to open standalone stores sequentially in prime commercial districts in major Chinese cities including Shanghai and Beijing. Barrel said the deal also supports its strategy to expand beyond a swimwear-focused business into athleisure and lifestyle categories. It plans to strengthen product lineups tailored to Chinese consumers, drawing on its product development experience and brand competitiveness in watersports. The company said it will also pursue localization aimed at key consumer groups in China — those born in the 1990s and 2000s. It plans to expand athleisure and lifestyle products suitable for everyday wear, alongside watersports items, and to strengthen its SMU lineup reflecting local tastes and lifestyle patterns. A Barrel official said the partnership is “an opportunity to reorganize our China business structure around profitability and scalability,” adding that the company will secure mid- to long-term growth drivers through a phased strategy spanning digital and offline channels and Barrel’s watersports identity. Separately, Barrel said it has set a mid- to long-term strategy of transforming into a global watersports platform and is diversifying its business portfolio. It said it recently made an indirect investment in global space company SpaceX as it moves to strengthen its foundation for future growth.* This article has been translated by AI. 2026-04-29 13:47:06 -
UAE’s ADNOC Plans Multibillion-Dollar Push Into U.S. Natural Gas The United Arab Emirates’ state oil company ADNOC plans to invest tens of billions of dollars to expand its U.S. natural gas business, seeking to diversify its commodities portfolio and build a global gas operation centered on liquefied natural gas (LNG) as energy-market volatility rises amid the Iran war. According to the Financial Times, ADNOC’s overseas investment platform, XRG, is reviewing 29 potential deals. The aim is to build a vertically integrated gas business spanning production, pipelines, processing plants, liquefaction facilities, regasification terminals and networks linking to end users. XRG Chief Investment Officer Namir Siddiqui, who took office in January, told the FT that “diversifying the commodities portfolio is the goal,” adding that XRG’s business “will be built across the entire gas value chain.” He said the plan to invest tens of billions of dollars across the U.S. gas sector “remains unchanged.” XRG is targeting two sources of demand in the U.S. market: rising global LNG demand and growing domestic gas demand driven by electricity needs from data centers. It is considering a range of approaches, including control acquisitions, drilling joint ventures and minority-stake investments. ADNOC has already taken a stake in the Rio Grande LNG project in Texas and increased its holding in a follow-on phase, positioning that investment as a base for broader expansion. But entry will not be easy. Major players are already established in the U.S. LNG market, and lenders have been cautious about new investments amid concerns about oversupply. Martin Houston, chairman of Omega Oil and Gas, told the FT that XRG has the financial capacity and determination to pursue big goals, but said a fully integrated gas business is highly complex and would take years.* This article has been translated by AI. 2026-04-29 13:46:17 -
Kolon Spaceworks Expands North America Defense Push With Canada Submarine Teaming Deal Kolon Spaceworks said it is stepping up its push into the North American defense market through cooperation with Hanwha Ocean and Canadian firm Spartec. The company said it signed a teaming agreement, or TA, with Hanwha Ocean and Spartec at ‘CPSP Partners Day’ held April 28 (local time) in Montreal to strengthen competitiveness for Canada’s next-generation submarine program, known as CPSP. Kolon Spaceworks said the agreement establishes a cooperation framework with a local partner that has manufacturing capabilities and helps secure localization capacity needed to carry out the project. Under the CPSP effort, Kolon Spaceworks said it will work with Spartec, a Canadian composites company, to expand in North America based on its own technology. Spartec is headquartered in Erin, Ontario, and has more than 40 years of experience producing composite parts for the automotive, industrial and defense sectors, the company said. Kolon Spaceworks said it plans to use the agreement to find additional local partners and broaden cooperation with institutions, strengthening its mid- to long-term business base in the North American defense market. CEO Ahn Sang-hyun said the deal will reinforce the company’s cooperation network with Canadian partners and contribute to improving competitiveness across Canada’s defense industry. He said Kolon Spaceworks aims to have its core technologies, proven through domestic submarine projects, recognized in global markets and to expand cooperation into aviation and space.* This article has been translated by AI. 2026-04-29 13:39:21 -
CertiK report says 2026 digital-asset rules tighten AML and expand security-audit mandates Global Web3 security firm CertiK has released its “2026 Digital Asset Regulation Landscape” report, outlining regulatory trends and compliance challenges across major markets. The report said that as of April 2026, regulatory frameworks for digital assets are becoming more defined in key jurisdictions including the United States, the European Union, Hong Kong and Singapore. It said the industry is moving beyond early-stage self-regulation and reactive enforcement toward comprehensive compliance covering licensing, anti-money laundering (AML), security audits and reserve management. CertiK listed four major shifts: tougher AML enforcement; smart-contract security audits moving into formal regulatory requirements; convergence in stablecoin standards; and changes in institutional participation as bank prudential rules are introduced. Enforcement focus shifts from securities status to AML The report said global enforcement is increasingly centered on controlling fund flows rather than debating whether tokens are securities. From 2024 to 2025, the U.S. Securities and Exchange Commission’s crypto-specific enforcement actions and penalty totals declined, while the U.S. Department of Justice and the Financial Crimes Enforcement Network stepped up AML-related actions, it said. In the first half of 2025 alone, more than $900 million in fines and settlements were imposed in AML-related matters. It cited sanctions involving OKX and KuCoin. OKX reached a $504 million settlement over allegations tied to operating an unlicensed money services business and violating the Bank Secrecy Act. KuCoin agreed to a $297.4 million settlement over similar violations. CertiK said the cases show that exchanges’ transaction monitoring, customer due diligence and sanctions screening have become core regulatory risks, not just internal controls. The report also noted regional differences. Europe has tended to respond by raising the level of AML fines and sanctions, while Asia-Pacific regulators more often rely on license revocations, business restrictions and corrective orders rather than monetary penalties. “The logic of digital-asset regulation is shifting from disputes over an asset’s legal character to controlling fund flows and market access,” the report said, adding that transaction monitoring, suspicious-activity reporting and sanctions screening will be key capabilities for exchanges and custodians. Smart-contract audits become a market-entry requirement CertiK said security regulation is also tightening. Smart-contract audits, once closer to an industry best practice, are increasingly being treated in major jurisdictions as a de facto requirement for licensing, token listings and asset-approval processes. Hong Kong, the United Arab Emirates, Singapore and Brazil are incorporating independent security assessments into licensing reviews or asset approvals, the report said. Hong Kong applies smart-contract audit requirements in its stablecoin issuer authorization process, and Dubai’s Virtual Assets Regulatory Authority requires regular smart-contract audits for licensed entities. The EU’s Digital Operational Resilience Act, or DORA, strengthens obligations for operational resilience, information and communications technology risk management and security testing for financial institutions and related service providers, it said. VARA requires annual smart-contract audits and can order threat-based penetration testing when needed. Brazil’s central bank requires independent technical certification in the licensing process for virtual asset service providers, including cybersecurity, segregated custody and key-management systems. CertiK’s internal analysis found that about 80% of projects that later suffered hacking losses had not undergone an official security audit before the incident, and those projects accounted for more than 89% of total losses. Attack patterns are also changing, the report said. In 2025, about 76% of total losses were attributed to infrastructure-layer issues such as private-key leaks and failures in access-permission management. That indicates operational security, key management and access controls are driving larger losses than traditional code vulnerabilities. CertiK said regulators’ security expectations are expanding beyond code reviews to broader assessments that include key management, operational security, penetration testing and internal controls. Stablecoin rules converge around reserves and licensing The report said stablecoins are the area where global standards are converging fastest. It cited the U.S. GENIUS Act, the EU’s Markets in Crypto-Assets regulation, or MiCA, Hong Kong’s stablecoin rules and Singapore’s payment services licensing framework. While details differ, the report said these regimes generally share core principles: reserves backed by fiat currency or highly liquid assets; limits on algorithmic stablecoins; independent reserve audits; licensing of issuers; and guaranteed redemption rights. However, the report said reserve composition rules, audit frequency, capital requirements and how foreign issuers are recognized are not yet fully aligned. As a result, stablecoin issuers face the challenge of meeting multiple, differing regulatory systems at the same time, not merely securing legal status in one market. For global operators, the report pointed to burdens including conflicting reserve rules across regions, the lack of mutual recognition for licenses and rising compliance costs. It said oversight by central banks and financial regulators is likely to intensify as stablecoins become more connected to payment infrastructure. Basel standards expected to reshape banks’ crypto exposure The report said the structure of institutional and banking participation in digital assets is also changing. It forecast that the Basel Committee on Banking Supervision’s prudential standards for cryptoassets will be incorporated into national regulatory systems in stages. The framework classifies digital assets by risk characteristics and applies differentiated capital requirements depending on what banks hold. Stablecoins and tokenized traditional financial assets that meet regulatory requirements may receive relatively lower risk weights, while unsecured digital assets such as bitcoin would face higher capital charges, it said. CertiK said this is likely to influence banks’ and large financial institutions’ strategies, with institutional capital more likely to concentrate in digital assets that demonstrate regulatory compliance, reserve transparency, securities-like structures and robust custody. “Compliance is no longer optional” CertiK said that while major regulatory systems are gradually converging, the compliance barriers companies must clear continue to rise. It said AML, security audits, reserve management and license maintenance are becoming ongoing costs for digital-asset firms expanding globally. Stefan Muehlbauer, CertiK’s head of U.S. government policy, said, “The era of ambiguous digital asset regulation is already over,” adding that enforceable regulatory systems are spreading quickly across major markets worldwide. “The key question for institutional investors and companies is no longer ‘Do we need compliance?’ but ‘How quickly can we build compliance infrastructure that meets regulatory requirements and can actually be enforced?’” he said. The report said Web3 firms and institutions operating across multiple jurisdictions should incorporate licensing, upgraded AML systems, ongoing security audits and key-management programs into long-term capital planning. It said security and compliance are becoming decisive conditions for market entry as the digital-asset industry moves into formal regulation.* This article has been translated by AI. 2026-04-29 13:37:41 -
South Korea Labor Ministry Holds Forum With Industrial Accident Victims, Pledges to Close Coverage Gaps The government held a meeting to hear directly from workers injured in industrial accidents and their families during a memorial week for the Day of Workers Killed or Injured in Industrial Accidents. The Ministry of Employment and Labor said Ryu Hyeon-cheol, head of its Occupational Safety and Health Headquarters, hosted a discussion forum on Tuesday afternoon with the Korea Workers’ Compensation and Welfare Service under the theme “Listening to Injured Workers.” The event was organized for the memorial week, held from April 28 to May 4, to remember those killed in industrial accidents and to comfort bereaved families. It was also the first memorial-week event since Ryu took office. About 60 people attended, including members of the bereaved families’ network “Dasisneun,” representatives of industrial accident groups and injured workers. Participants shared difficulties they faced while seeking workers’ compensation, problems in treatment, recuperation and rehabilitation, and areas where they said the system needs improvement. They also held an open discussion on the overall industrial accident insurance system. They called for expanded support to help injured workers return to their jobs and daily lives after treatment, sustained welfare support for families, and greater assistance for related organizations. Ryu said the government would work to “expand the scope of protection by eliminating blind spots in industrial accident insurance, build a fast and accurate compensation system, and support a return to work through early treatment and tailored assistance,” with the goal of making the country safer and healthier for workers. He added that it was meaningful to communicate directly with injured workers and said the ministry would actively review the difficulties and proposals raised at the forum so they can be linked to policy.* This article has been translated by AI. 2026-04-29 13:33:37 -
LX International Q1 Operating Profit Falls 6.8% to 108.9 Billion Won LX International said in a regulatory filing Tuesday that its first-quarter operating profit on a consolidated basis totaled 108.9 billion won, down 6.8% from a year earlier. The company cited factors including a decline in the Shanghai Containerized Freight Index (SCFI). First-quarter revenue rose 4% from a year earlier to 4.2113 trillion won, helped by higher output and sales at key assets including the AKP nickel mine in Indonesia and palm plantations. Operating profit, however, jumped 96.2% from the previous quarter, nearly doubling as profitability rebounded. The company pointed to stronger resource-market conditions, supported by supply-control policies in major resource-producing countries including Indonesia and by the closure of the Strait of Hormuz. It said improved results in its resources and trading businesses led the companywide gain in profitability. With selling prices rising on stronger commodity markets, it expanded production and sales at major assets such as the AKP nickel mine and palm plantations. Sales volumes also increased for key trading items, including methanol, contributing to quarter-on-quarter improvement. In logistics, the company said it continued to generate steady profit, led by its contract logistics (CL) business that manages overall logistics operations for corporate clients. A company official said, "On the back of a recovery in global resource markets and improved profitability in the trading division, we saw a sharp improvement in profitability from the previous quarter," adding, "Even in an uncertain business environment marked by greater volatility in resource and logistics markets, we are focusing on improving operating efficiency at core assets and generating stable cash flow." The official said the company will accelerate diversification and a shift in its business portfolio by investing in future-oriented minerals such as nickel, bauxite and copper; developing new markets and expanding new businesses; and entering new growth areas including energy infrastructure and power solutions, with a focus on producing visible results. * This article has been translated by AI. 2026-04-29 13:30:09 -
Seoul’s Han River Bus Tops 70,000 Riders in April as Policy Debate Intensifies The Han River bus has been drawing heavier crowds as the spring outing season gets underway. Data released by the Seoul Metropolitan Government on Tuesday showed April ridership totaled 70,552 from April 1-27, a monthly record. The city projected the figure will exceed 75,000 by the end of the month. Weekend traffic also rose. Ridership over the final weekend of April (April 25-26) reached 10,247, up 15.2% from the first weekend (April 4-5). Seoul said the increase is not only seasonal. In line with the International Garden Expo opening May 1, the city will open a temporary dock at Seoul Forest and add a direct Yeouido-to-Seoul Forest route. The plan is to open to the public a dock previously used only by official vessels and capture more destination-based trips, combining transportation and tourism. The ridership surge has sharpened differences in how politicians assess the program. Jung Won-oh, the Democratic Party’s Seoul mayoral candidate, has taken a negative stance on the Han River bus, saying that if elected he would consider halting operations or, at minimum, scaling it back and shifting it to a tourism-focused service. His comments have raised questions about profitability and efficiency. Mayor Oh Se-hoon, by contrast, has promoted the Han River bus as a platform aimed at both everyday commuting and tourism demand. After skepticism early on, ridership climbed from 62,491 in March to more than 70,000 in April, with cumulative riders surpassing 230,000, the city said. Seoul is also reviewing ways to improve revenue beyond fares, including expanding dockside facilities such as cafes, a chicken pub and convenience stores, along with advertising and events. The city has described the approach as a platform-style transit model intended to attract private demand and reduce the fiscal burden. Park Jin-young, head of Seoul’s Future Han River Headquarters, said the Han River bus “is setting a monthly ridership record and is taking root as a water transit option that meets both everyday transportation and tourism demand.” He added, “Starting in May, we will also open a temporary dock so residents can visit the International Garden Expo at Seoul Forest by taking the Han River bus, improving convenience for citizens.” 2026-04-29 13:06:23 -
Salady App Membership Tops 510,000 as Pickup and Delivery Features Expand Salady, a leading salad franchise brand in South Korea, said sign-ups for its official app have surpassed 510,000. That is about a 27% increase from the first quarter of last year, the company said, extending steady growth. The rise is being read as more than a jump in registrations, reflecting that app-based ordering, payment and benefits are becoming established. As contactless ordering and mobile-first dining habits expand, company-run apps are increasingly used to strengthen customer engagement and manage repeat visits and loyalty. Salady has continued updates since a September 2022 app overhaul that combined its membership and ordering functions. The app offers advance ordering for pickup at a chosen time, which the company said can reduce wait times and ease in-store congestion. With delivery added in August 2025, users can place both pickup and delivery orders on the same platform. The company has also focused on convenience features, including simplified payments and a “one-click order” function that allows quick reorders based on recent purchases. Users can save favorite stores and preferred menu items, providing a more personalized experience that can increase time spent in the app and repeat purchases. Its membership program has also expanded. Customers earn stamps for buying main menu items at stores nationwide and through the app, and a 3,000-won discount coupon is automatically issued after 12 stamps. New members receive a 2,000-won discount coupon, and additional benefits such as birthday coupons by membership tier and topping and beverage coupons are offered on an ongoing basis. Promotions are also designed to drive app use. On the 22nd of each month, “Salady Day” offers first-come, first-served pickup and delivery coupons, and the company issues discount coupons when new menu items are launched. Industry observers view the trend as part of the restaurant franchise sector’s digital shift, with brands using their own apps to build order data and offer more tailored benefits and services. Salady is positioning its app as a core platform, rather than only an ordering tool, to manage the customer experience in one place.* This article has been translated by AI. 2026-04-29 13:03:21