Journalist
Lee Hugh
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EV Charging Firm Chaevi Jumps 132% in KOSDAQ Debut Chaevi, an electric-vehicle charging infrastructure company, surged in its KOSDAQ debut as buying poured in after trading opened. Shares were trading at 28,550 won as of 10:21 a.m. on Tuesday, up 132.11% from the IPO price of 12,300 won, according to the Korea Exchange. The exchange approved Chaevi’s KOSDAQ listing on April 27 and began trading on Tuesday. Newly listed shares are not subject to the volatility interruption mechanism, known as VI, on the first day, which can lead to larger price swings. Founded in 2016, Chaevi operates an EV charging infrastructure business based on electric motors and generators and electric conversion, supply and control equipment. It is known as the first domestic EV charging infrastructure company to pursue an initial public offering. In institutional demand forecasting held April 10-16, 751 institutions participated, posting a 55-to-1 competition ratio. In the retail subscription held April 20-21, the competition ratio was 302-to-1. The IPO price was set at 12,300 won, the bottom of the indicated range of 12,300 won to 15,300 won.* This article has been translated by AI. 2026-04-29 10:36:14 -
Hyundai Steel Extends Rally to Five Sessions on Steel Price Rebound, China Output Cut Hopes Hyundai Steel extended its gains for a fifth straight session in early trading, supported by a rebound in steel prices and expectations of higher product prices. As of 10:25 a.m. on April 29, Hyundai Steel shares were trading at 45,950 won, up 1,850 won, or 4.20%, from the previous session. The stock has risen for five consecutive sessions since April 23, gaining more than 10% over that period. The advance was attributed to growing expectations for an industry upturn as China, the world’s largest steel producer, has recently reduced output. According to the World Steel Association, China’s crude steel production last month totaled 87 million tons, down 6.3% from 92.8 million tons a year earlier. China has signaled output cuts, citing carbon-emissions reductions and industrial restructuring. Market participants say that if China-driven supply tightening continues, steel prices could firm further and lift earnings expectations for South Korean steelmakers. Global steel price trends have also been supportive, analysts said, as easing geopolitical risks in the Middle East, expectations for steadier interest rates and a weaker dollar have reduced some pressure on the sector. Brokerages are also focusing on the possibility of near-term earnings improvement. Kim Yun-sang, an analyst at iM Securities, said inflation and high interest rates remain a burden, but recent steel price moves and stabilizing macroeconomic variables are a positive shift. He added that while the price rise is partly tied to supply disruptions, higher prices themselves are supportive for earnings. * This article has been translated by AI. 2026-04-29 10:35:32 -
Climate, Energy and Environment Minister Visits Doosan Enerbility Plant to Check New Reactor Equipment Kim Sung-hwan, minister of climate, energy and environment, visited a major nuclear equipment manufacturing site to help ensure the smooth rollout of new nuclear power plant construction. The ministry said Kim visited Doosan Enerbility’s Changwon plant in Seongsan-gu, Changwon, South Gyeongsang Province, on Tuesday morning to inspect production of key nuclear power plant components. The visit was part of on-site checks aimed at moving forward, without setbacks, with new reactors included in the 11th Basic Plan for Long-term Electricity Supply and Demand. The Changwon plant is considered the country’s only comprehensive manufacturing base with the capability to produce major components for large nuclear power plants. It has supplied key equipment to major domestic plants including Shin Hanul, Shin Kori and Shin Wolseong. Kim’s tour was scheduled to proceed from the main forging shop to the nuclear plant. Site managers briefed him on ultra-large forging production facilities, manufacturing processes for major nuclear components and the quality-control system. Kim was to review the production status and delivery schedules for key equipment designed to withstand high-temperature and high-pressure conditions. Kim told workers, “Korea has world-class competitiveness in nuclear equipment manufacturing,” adding that the foundation of that strength is “the dedication and effort of workers on the ground.” He also urged them to “do your utmost in quality control” so that Korea’s nuclear power plants can remain trusted and their safety assured.* This article has been translated by AI. 2026-04-29 10:34:44 -
South Korea Labor Ministry Honors Top Labor Inspectors, Holds Jeon Tae-il Tribute Event The Ministry of Employment and Labor said it awarded ministerial citations to outstanding labor inspectors and held a Jeon Tae-il biography “continuation writing” event on the 29th at the Jeon Tae-il Memorial Hall. The ministry selected 10 teams and nine individuals as outstanding labor inspectors. In workplace inspection, the honorees were the Jungbu Regional Office’s Metropolitan Labor Standards Inspection Division, the Changwon Branch Office’s Labor Standards Inspection Division, the Daegu Regional Office’s Metropolitan Labor Standards Inspection Division, and inspectors Kim Gi-dae (Busan Eastern), Kim Gwang-hyeon (Incheon Northern), Park Ye-seul (Uijeongbu) and Hyeon So-jin (Yeongju). The ministry said they were recognized for responding quickly to social issues with wide-ranging inspections or for contributing to enforcement of labor laws. In complaint cases and rights relief, the list included the Incheon Northern Branch Office’s Labor Standards Investigation Division 1, the Busan Regional Office’s Labor Standards Investigation Division 1, the Seoul Southern Branch Office’s Labor Standards Investigation Division 1, the Ulsan Branch Office’s Labor Standards Investigation Division 1, and inspectors Kim Min-yeong (Tongyeong), Kim Seok-jin (Yangsan) and Park Eun-jeong (Pohang). The ministry cited their work in proactively uncovering and resolving hidden wage arrears beyond reported cases. In active investigations, including forced investigations, the honorees were the Seongnam Branch Office’s Labor Standards Investigation Division 1, the Seoul Northern Branch Office’s Labor Standards Investigation Division 1, the Pohang Branch Office’s Labor Standards Investigation Division 1, and inspectors Kang A-yeong (Changwon) and Jang Yun-hui (Goyang). The ministry said they were credited with arresting and detaining suspects who went into hiding for years after group wage theft cases, or tracking suspects’ locations through communications warrants until they were arrested. After the awards, cited inspectors and newly appointed labor inspectors attended an event titled “Jeon Tae-il’s Dream, Continued Through Copying,” hosted by Jeon Tae-il Civic Action. The event aims to designate Nov. 13, the day Jeon died, as a national commemorative day. Labor Minister Kim Young-hoon said “new employment arrangements designed to evade labor laws, such as fake ‘3.3,’ are increasing, and intentional and habitual wage arrears still threaten workers’ rights at their workplaces.” He added, “This is a time when tighter, more reliable on-site oversight is needed.” Kim said seasoned inspectors and newly appointed inspectors should “communicate and collaborate actively” to carry on Jeon’s spirit and “build a country where all working people can be happy.”* This article has been translated by AI. 2026-04-29 10:34:06 -
South Korea’s Finance Ministry Holds Talks on Creating a Korean-Style Sovereign Wealth Fund The government, which plans to draw up a plan in the first half of this year to launch a Korean-style sovereign wealth fund, convened a meeting Tuesday to gather views from related organizations. Min Gyeong-seol, director general for innovative growth at the Ministry of Finance and Economy, held a roundtable at the Korea Fiscal Information Service with promising companies in strategic industries and officials from the Financial Services Commission, the Korea Development Bank and other agencies to discuss the direction for establishing the fund. Participating companies shared their experiences and difficulties in raising investment during growth stages, saying large-scale, long-term investment conditions are needed for promising strategic-industry firms to develop into globally competitive companies. Participants said the government has helped build a startup ecosystem through various policy funds and policy financing, but noted that most have been structured as funds premised on liquidation, limiting their role as patient capital. They expressed expectations for a sovereign wealth fund that would not require liquidation. The Financial Services Commission, the Korea Development Bank and other agencies agreed that if existing policy financing and investment tools work in a complementary way with a Korean-style sovereign wealth fund, they could generate synergy in fostering strategic industries, supporting overseas expansion and building stable supply chains. They offered a range of policy suggestions on how to set up the fund. Min said the fund would be “a new investment tool” that would grow as a long-term, stable partner through equity investments in promising strategic-industry companies, and “accumulate the resulting gains as national wealth to share with future generations.” He said the ministry will reflect views raised at the meeting to prepare an establishment plan within the first half of the year and proceed with follow-up steps, including submitting legislation to the National Assembly soon.* This article has been translated by AI. 2026-04-29 10:33:21 -
Patriots and Veterans Affairs Ministry to Hold Public-Private Forum on Future Policy As the number of people eligible for veterans benefits declines and the policy environment shifts rapidly, South Korea’s Ministry of Patriots and Veterans Affairs will hold a forum to discuss the direction of future veterans policy. The ministry, led by Minister Kwon Oeul, said it will host the policy forum, titled “NEXT Patriots and Veterans Affairs: Asking and Answering the Future,” on April 30 afternoon at Park Jeong-mo Hall at the Seoul Regional Office of Patriots and Veterans Affairs. About 30 people are expected to attend, including the ministry’s minister and vice minister, members of its policy advisory committee, private-sector experts, and young participants described as the next generation of leaders in veterans affairs, including the 2030 Advisory Group and Innovation Avengers. The forum will open with a presentation by Kim Jeong-hae of the Korea Institute of Public Administration on “Strategic Measures for Sustainable Veterans Affairs.” Policy proposals will then follow on development plans from five subcommittees of the advisory committee: veterans culture, compensation, medical and welfare, discharged service members, and the future of veterans affairs. After the proposals, a free discussion involving all participants will be held under the moderation of Cho Hyun-jae, chair of the policy advisory committee, on “The Future Direction of Veterans Affairs as the Number of Eligible Recipients Declines.” Kwon said the forum will be “a meaningful time for the public and private sectors to seek policy directions for the future of veterans affairs from a new perspective.” He said the ministry will work to reflect innovative ideas raised at the forum in policy so that “special sacrifice receives special compensation.” * This article has been translated by AI. 2026-04-29 10:31:11 -
Samsung C&T Adds AI Tax Service ‘Tax AI’ to Homeniq Home Platform Samsung C&T Corp.’s construction division is expanding its home platform, Homeniq, beyond basic residential convenience features into professional asset management services. Samsung C&T said Tuesday it has partnered with AI tax solution provider New I to offer its customized tax analysis service, Tax AI, through the Homeniq app. With the partnership, Homeniq users can add tax services to existing functions such as home IoT controls, community facility reservations and vehicle management. Through a dedicated in-app page, users can run refund analyses for taxes including capital gains tax and the comprehensive real estate holding tax. For residents preparing to move into newly built complexes, the service also provides AI simulations for major move-in taxes such as acquisition tax. Samsung C&T said it expects the tool to help prevent overpayment or underpayment and reduce the risk of penalties caused by filing errors. Starting in May, the platform will also provide tax and asset price information linked to South Korea’s real estate transaction price disclosure system, the company said. Samsung C&T said Homeniq users will receive exclusive benefits, including 10 free uses of the tax simulation service, valued at 15,000 won per case. Users who complete an analysis of expected past capital gains tax refunds will receive a coffee coupon. New I said it has a proprietary AI algorithm built on analysis of 9.3 million cases. The company also holds patented technology that determines in real time whether tax reductions apply, based on daily tax law algorithms from 2020 to the present. It won the top prize, a minister’s award, at the Ministry of Land, Infrastructure and Transport’s 2024 real estate service startup competition. “Homeniq, which improves convenience in apartment living, has been upgraded further by adding professional tax services,” said Ji So-young, head of Samsung C&T’s H&B Platform Business Team. “We will continue developing it into a platform that supports customers’ overall residential lives, regardless of when they move in.”* This article has been translated by AI. 2026-04-29 10:30:06 -
Aju IB Investment Shares Slide Nearly 20% After Majority Owner Plans Block Trade Aju IB Investment shares fell nearly 20% in intraday trading after news that its majority owner plans a block trade, raising concerns about a large supply of shares hitting the market and a reduced controlling stake. According to the Korea Exchange, Aju IB Investment was trading at 14,980 won as of 10:02 a.m. on Tuesday, down 3,720 won, or 19.89%, from the previous session. Aju, the company’s largest shareholder, said in a regulatory filing the previous day that it plans to sell 8,480,178 shares of Aju IB Investment, equal to a 7% stake, through an after-hours block trade. Aju’s ownership would fall to 53.37% from 60.54%. The Korea Institute of Science and Technology is the second-largest shareholder with a 7.15% stake, and Aju would remain the largest shareholder after the sale. The sale price was set at 18,700 won per share, with the transaction scheduled to run from May 28 to June 26, about a month. The total deal value is expected to be about 158.6 billion won. Aju said the purpose of the transaction is to “secure strategic investment funds and support Aju IB Investment’s investments.” Aju IB Investment was founded in 1974 as Korea Technology Advancement Co. and changed to its current name in 2008. As South Korea’s first venture capital firm, it began expanding new-technology investments in earnest after 2001 by forming investment funds. As of the end of last year, it had cumulatively formed a total of 55 VC investment funds with 2.1523 trillion won and 11 private equity funds with 1.6889 trillion won, for a combined 3.8412 trillion won. * This article has been translated by AI. 2026-04-29 10:29:19 -
Actor Jin Tae-hyun to Leave JTBC’s ‘Divorce Consideration Camp’ After Reports Surface Early Actor Jin Tae-hyun is leaving JTBC’s “Divorce Consideration Camp.” Cast changes are common in entertainment programming, but the lingering question in this case has been less about why he is departing than about how the exit was handled. Jin said on social media on the 28th that he had planned to say goodbye after his final episode, but wrote earlier because an official article about his departure was published while he still has many episodes left to air. He said he learned of the production team’s explanation and decision through his manager, and that he left the show after his last recording in early April. His message was restrained, without public criticism of the production team. He thanked the program and viewers, saying that in his 25-year career he worked harder and approached the show with more sincerity than any other shoot. Still, his wording — including that he heard the news “through my manager” — suggested disappointment with the process. Receiving such news through a manager is not unusual in the TV industry, where schedules, contracts and casting decisions are often communicated through management. Producers may also see that route as a way to follow formal procedure and avoid misunderstandings, especially during a broader retooling that can involve departures and replacement discussions at the same time. But a process that is procedurally acceptable may still feel insufficient on a personal level. Jin was not a one-time guest; he had been a regular presence on the program as an investigator representing the husband’s side, making him part of the show’s core lineup. For long-running cast members, the way an exit is wrapped up can matter as much as the decision itself. The timing of the reporting also sharpened the reaction. Jin said he was disappointed that news of his departure came out first while he still appears in upcoming episodes. In effect, he remained on screen as a member of the program while being treated off screen as someone who had already left, losing the chance to choose when and how to deliver his own farewell. Producers have the authority to revamp a program, and rotating cast can be part of a show’s strategy. Jin said the decision was explained as being for the program’s changes, a rationale that can be understood. The unease, the article argues, lies in the gap between “official procedure” and the feeling of not being directly informed — a gap that can invite misunderstanding. Jin maintained a polite tone to the end, raising a broader question: When a long-running relationship ends, is following procedure enough, or does the manner of the goodbye also matter?* This article has been translated by AI. 2026-04-29 10:28:25 -
Elysian Gangchon to Host Forest Bakery Market in Chuncheon on May 24 Elysian Gangchon in Chuncheon, Gangwon Province, will hold its large-scale “Forest Bakery Market” on May 24, bringing together well-known bakeries and dessert brands from across South Korea, the resort said Tuesday. ◆ A picnic-style bakery festival in the woods First introduced in October 2024, the Forest Bakery Market has expanded each year and has drawn strong interest, with more than 20,000 visitors attending a single event. This year’s theme is “The moment forest scents meet the aroma of bread — the most atmospheric day for all five senses.” Visitors can enjoy a lawn picnic and walks away from the city while sampling breads and desserts from around the country. With interest in desserts rising amid the popularity of baking competition shows, organizers expect larger crowds than in previous years. The venue will include photo zones and rest areas aimed at younger visitors and families. Beyond food sales, the event will also feature a handicrafts flea market, live busking performances and simple baking experiences. ◆ Easy access by subway, with a push to support local businesses Organizers have credited the festival’s success to its accessibility as a “bakery trip by subway,” with visitors able to reach the site conveniently from the Seoul metropolitan area via the Gyeongchun Line. The wooded setting is also positioned as a contrast to city-based festivals. Elysian Gangchon said it partnered with the bakery-focused platform “Bbangjisullae” to produce a special “bakery pilgrimage map” for the Chuncheon area, aiming to promote local bakeries and boost dessert tourism. The organizers said the event will help expand sales channels for local merchants and small businesses while giving visitors a chance to discover new local brands. “By combining nature, food and relaxation, we plan to present an upgraded program as a lifestyle-style festival,” an Elysian Gangchon official said. “As it has become a signature spring festival, we hope many people will visit Chuncheon again this year.”* This article has been translated by AI. 2026-04-29 10:27:00