Journalist

Lee Hugh
  • Choreographer Sharon Eyal on ‘Jakie’: ‘Come with an open mind and feel it’
    Choreographer Sharon Eyal on ‘Jakie’: ‘Come with an open mind and feel it’ “Come with an open mind and feel it.” Choreographer Sharon Eyal said at a March 10 talk at the Sejong Center for the Performing Arts that dance is about “freedom, connection and emotion.” “Movement makes us better people and brings better things,” she said, adding, “Everyone needs dance.” The Sejong Center will present the Seoul Metropolitan Ballet’s first program of its 2026 season as a double bill: Johan Inger’s “Bliss” and “Jakie” by Eyal and Gai Behar, staged at the Sejong M Theater. “Jakie,” which premiered in 2023 at Netherlands Dance Theater (NDT), will be performed for the first time for audiences in South Korea through the Seoul company. It is Eyal’s first time working with Korean dancers, though she said nationality is not central to her process. “My work is with people. It’s about working with new people — nationality doesn’t matter much,” she said. Still, she said she appreciates that Korean dancers “respect rigor,” and added that drawing out emotion “could be a challenge.” Eyal said she has made small adjustments for this production. “I tailor it little by little to each individual,” she said. “Rather than keeping the Korean audience in mind, I look for what can bring out the dancers’ sincerity in this moment. I believe that’s how communication happens.” Calling herself a “dreamer,” Eyal repeatedly pointed to “life” when asked what inspired “Jakie” and whether the title refers to a specific person. “I don’t make works for the sake of making works. I drew inspiration from life. (‘Jakie’) is an extension of life,” she said. She said the answer to what “Jakie” is meant to be remains open. “You can think of Jakie as a bear. You can think it’s not a person,” she said. “Rather than explaining it, I want you to feel it directly. I don’t like reading a plot summary before going to the movies — I want to experience it. I hope audiences do, too.” The program runs March 14-22 at the Sejong M Theater for seven performances. There are no performances on March 16, 17 and 21.* This article has been translated by AI. 2026-03-10 15:51:21
  • Hormuz halt deepens crisis for Koreas petrochemical makers
    Hormuz halt deepens crisis for Korea's petrochemical makers SEOUL, March 10 (AJP) - South Korea's petroleum refining and petrochemical industries are bracing for a deepening "compound crisis" as the Middle East war sends crude oil, naphtha and liquefied natural gas prices surging while new labor regulations threaten to complicate urgently needed restructuring. The prolonged conflict between the United States, Israel and Iran has sharply disrupted energy supply chains across Asia, with tanker traffic through the Strait of Hormuz grinding to a halt after Iran shut down the strategic waterway following joint U.S.–Israeli strikes on Feb. 28. For South Korea — one of the world's largest importers of energy and petrochemical feedstock — the shock is hitting an industry already weakened by Chinese overcapacity and falling margins. About 54 percent of the country's naphtha imports and roughly 70 percent of its crude oil typically pass through the strait, leaving domestic refiners and petrochemical producers acutely exposed to a prolonged blockade. Naphtha prices have surged about 55 percent since the conflict escalated, jumping to $883.4 per metric ton on March 9 from $568.55 on Feb. 23, according to the Naphtha FOB Fujairah Cargo Assessment compiled by S&P Global Platts. Oil markets have also experienced extreme volatility. U.S. benchmark West Texas Intermediate traded around $89.96 per barrel after swinging within a roughly $28 range, while global benchmark Brent crude stood at $88.87, sharply below an intraday peak of $119.50 reached earlier in the conflict. The disruption has pushed the East-West naphtha spread above $50 per ton for April contracts, more than $30 higher since the start of the year, reflecting mounting concerns over reduced Middle Eastern supply into Asia, which normally receives roughly 40 percent of global naphtha exports from the Gulf region. Forward structures have tightened sharply as well, with April–May timespreads widening by about $20 per ton in both Asian and European benchmarks, approaching levels last seen at the start of the Russia-Ukraine war in 2022. The market is increasingly pricing in shortages as buyers scramble to secure replacement cargoes from Europe and the United States. The supply shock is already forcing petrochemical producers to cut operating rates. Lotte Chemical plans to reduce utilization at its Daesan naphtha cracking center from about 80 percent to 70 percent, while also moving forward scheduled maintenance at its Yeosu plant by two weeks. LG Chem is lowering operating rates at its Daesan facility from 69 percent to about 54 percent and trimming output at its Yeosu complex. Korea Petrochemical is reviewing a reduction from 80 percent to roughly 75 percent at its Onsan plant. Yeochun NCC — a joint venture between Hanwha Solutions and DL Chemical and one of South Korea's largest ethylene producers — declared force majeure on March 4, warning customers that naphtha deliveries for March would be significantly delayed. Industry executives warn that the next month could prove decisive. Petrochemical companies typically maintain around one month of naphtha reserves, meaning prolonged disruptions could force deeper production cuts or temporary plant shutdowns. The squeeze is intensified by a structural pricing trap: surging feedstock costs cannot easily be passed on to buyers because persistent Chinese oversupply continues to depress prices for ethylene and downstream petrochemical products. Analysts say the pattern echoes the early phase of the Russia-Ukraine war, but the impact could prove more severe given Asia's heavier reliance on Middle Eastern feedstock. "If the war is not resolved within the next week, further price spikes are inevitable as inventories deplete and panic buying intensifies," said Yoon Jae-sung, an analyst at Hana Securities. "Should the disruption extend beyond two weeks, we could see a wave of plant shutdowns globally. Companies with lower dependence on Middle Eastern feedstock will be in a stronger position." LNG shock adds further energy pressure Energy costs are rising across the broader industrial system. Qatar, which accounts for about 20 percent of global LNG supply, halted production at its Ras Laffan facility after Iranian drone and missile strikes on March 2 and declared force majeure on exports two days later. Spot LNG prices surged 46 percent following the disruption. South Korea imports roughly 20 percent of its LNG from the Middle East, largely under long-term contracts, but replacement volumes on the spot market are now significantly more expensive. "It is the global supply-demand balance that determines LNG prices," said Roh Nam-jin, senior researcher at the Korea Energy Economics Institute. "Even though South Korea relies relatively less on Middle Eastern LNG compared with oil, a broad increase in LNG prices will inevitably affect the domestic energy market." About half of South Korea's imported LNG is used for electricity generation, which accounts for roughly 30 percent of national power output, meaning higher LNG costs could eventually push up industrial electricity prices. Restructuring gains momentum but faces new obstacles The crisis comes as the petrochemical sector is already undergoing a painful restructuring. Hanwha Solutions and DL Chemical recently agreed to shut down two of Yeochun NCC's three plants, reducing ethylene capacity from 2.3 million tons annually to about 900,000 tons. The remaining operations will later merge with Lotte Chemical's Yeosu complex, which has annual capacity of 1.23 million tons, to form a new joint venture expected this year. Hanwha Solutions, DL Chemical and Lotte Chemical are negotiating an equal 33 percent ownership structure, while Hanwha and DL have pledged 500 billion won to cover Yeochun NCC's outstanding borrowings. The restructuring follows the government-backed "Daesan No.1 Project," which merged operations between Lotte Chemical and HD Hyundai Chemical with a 2.1 trillion won ($1.42 billion) support package. Yeochun NCC's financial position had deteriorated rapidly even before the war. Its operating losses widened from 150.3 billion won in 2024 to 198.9 billion won in the first nine months of 2025, leaving the company close to default last year. The government approved financial support for the Daesan restructuring on Feb. 25 and is expected to extend similar backing for the Yeosu plan. Labor law adds uncertainty to industry overhaul But the restructuring process now faces a new complication. South Korea's revised labor union law — widely known as the Yellow Envelope Law — takes effect Tuesday, expanding the scope of legally permissible labor disputes to include corporate restructuring and business reorganization. The law also allows subcontractor unions to demand collective bargaining directly with parent companies, a provision that could complicate plant closures or workforce reductions at petrochemical complexes that rely heavily on subcontracted labor. Industry officials warn that the convergence of war-driven feedstock shocks, structural overcapacity and regulatory uncertainty leaves the sector with limited room to maneuver. If the Hormuz blockade persists and feedstock inventories run out, utilization rates at domestic naphtha cracking centers could fall below 60 percent, with ripple effects spreading across downstream industries including electronics, automotive manufacturing, construction materials and consumer goods. 2026-03-10 15:46:15
  • Samsung Heavy secures new order for three crude oil tankers
    Samsung Heavy secures new order for three crude oil tankers SEOUL, March 10 (AJP) - Samsung Heavy Industries has won an order for three crude oil tankers from a Bermuda-based shipowner, the shipbuilder said on Tuesday. The order, worth 400.1 billion Korean won (about US$290 million), is scheduled for delivery by February 2029. The deal brings the shipbuilder's cumulative orders for this year to 11 vessels worth $2.1 billion, reaching 15 percent of its annual target of $13.9 billion. By ship type, the orders consist of three liquefied natural gas carriers, two ethane carriers, two container ships, and four crude oil tankers. "With an order backlog of 137 ships worth $29.5 billion, we will continue to focus on profitability in securing new projects," a company spokesman said. 2026-03-10 15:05:07
  • BYD Korea Unveils City Pop-Inspired Digital Film Campaign for Dolphin EV
    BYD Korea Unveils City Pop-Inspired Digital Film Campaign for Dolphin EV BYD Korea said Tuesday it is releasing a digital film campaign with a City Pop feel to mark the launch of its compact electric hatchback, the BYD Dolphin. The campaign departs from conventional car ads, presenting a content-driven digital film series that blends animation and music. BYD Korea plans three videos themed around driving range, a surround-view system and interior space, aiming to convey the Dolphin’s mood and lifestyle appeal and make the brand and model feel more approachable. The series uses City Pop music and an animation style associated with 1980s and 1990s urban sensibilities, designed to resonate with people in their 20s and 30s. Rather than emphasizing performance directly, it focuses on storytelling centered on everyday city life, music and emotion. The Dolphin is the first model in BYD’s “Ocean Series,” inspired by marine life, and is positioned as a small hatchback aimed at broadening EV adoption. It starts at 24.5 million won, and with subsidies the purchase price can fall to the 21 million won range. Built on the dedicated EV e-Platform 3.0, the Dolphin has a 2,700mm wheelbase to secure roomy interior space. Standard features include a panoramic glass roof and a 360-degree surround-view system, among other convenience and safety specifications. It also earned five-star top ratings in Euro NCAP and Green NCAP assessments, BYD Korea said. “This digital film was produced so it can be enjoyed as content rather than as a car advertisement,” a BYD Korea official said. “We wanted to expand touchpoints with younger generations by expressing the Dolphin’s light and free image through City Pop sensibilities and animation.” The videos are available on BYD Korea’s official YouTube and Instagram channels and will be released sequentially across other media platforms, including Megabox theater advertising, the company said. * This article has been translated by AI. 2026-03-10 14:57:18
  • Kencoa Aerospace Signs Deal to Supply Embraer C-390 Sheet-Metal Parts to European Defense Firm
    Kencoa Aerospace Signs Deal to Supply Embraer C-390 Sheet-Metal Parts to European Defense Firm Kencoa Aerospace said Tuesday it has signed a large contract with a European aerospace defense manufacturer to supply major sheet-metal parts for Embraer’s C-390 program. The company said it secured the order after completing capital spending last year to expand its sheet-metal production facilities. Under the agreement, Kencoa will supply key sheet-metal components for the C-390. It did not disclose the customer, contract value or other terms, citing a confidentiality clause. Kencoa said it aims to complete development and deliver initial parts for the project this year. It said technical talks are underway under a detailed schedule and preparations are being made to build prototypes, while a mass-production system is being put in place. The company said additional requests for quotes from global firms have followed the contract, raising expectations for more orders. Kencoa said it has made major equipment investments to strengthen high-precision, high-quality aircraft sheet-metal production, including automated equipment and quality-control systems to meet stringent international certification requirements in aerospace and defense. It called the Czech order its first visible result. The C-390 is a next-generation tactical transport aircraft seeing rising demand globally, including in Europe. The aircraft has also been selected as a model for the South Korean Air Force’s second large transport aircraft program, the company said. Chief Executive Officer Lee Min-gyu said the deal goes beyond parts supply and reflects renewed recognition of Kencoa’s process technology and quality competitiveness in the international defense market. He said the company will strengthen cooperation with overseas partners through continued investment in technology and quality innovation. * This article has been translated by AI. 2026-03-10 14:51:16
  • South Korea fines Mercedes-Benz for allegedly hiding EV battery supplier information
    South Korea fines Mercedes-Benz for allegedly hiding EV battery supplier information South Korea’s Fair Trade Commission ordered Mercedes-Benz to take corrective steps and pay a penalty surcharge of 11.339 billion won, accusing the automaker of deliberately omitting and concealing information about electric-vehicle battery cells. Mercedes-Benz Korea denied wrongdoing and said it is considering an administrative lawsuit to contest the decision. On the 10th, the commission said Mercedes-Benz installed Farasis battery cells in many EV models, including the EQE and EQS, but failed to disclose that fact. Instead, it allegedly created “vehicle sales guidelines” that dealers used in marketing, making it appear that all of its EVs used cells from CATL, described as the world’s No. 1 battery cell maker. The FTC said that amounted to deceiving consumers and imposed the corrective order and the 11.339 billion won penalty surcharge. Separately, the FTC said it found grounds to believe Mercedes-Benz Korea and the German headquarters were directly or indirectly involved in the violations and decided further investigation was needed. It referred the case to prosecutors. Under current law, penalty surcharges for unfair trade practices can reach up to 4% of related sales. The FTC said its order against Mercedes-Benz applied the maximum 4% rate. According to the FTC, Mercedes-Benz instructed dealers to promote sales by highlighting CATL’s strengths without mentioning Farasis. But the FTC said that, contrary to the guidance, Farasis cells were installed in four of six EQE models and one of seven EQS models that Mercedes-Benz released. Information on the battery cell manufacturer is a key factor for consumers choosing an EV, the FTC said. It said dealers, relying on the company’s sales guidance, marketed and sold vehicles as equipped with CATL batteries. The FTC said about 3,000 EVs with Farasis cells were sold from June 8, 2023, when Mercedes-Benz notified dealers of the sales guidance, until Aug. 12, 2024, when disclosure of battery cell makers began after an apartment underground parking garage fire in Incheon’s Cheongna district on Aug. 1, 2024. The FTC put sales at about 281 billion won. Mercedes-Benz Korea said it did not violate the law and called the FTC’s conclusion unfair. In a statement, the company said it respects the FTC’s decision but disagrees with its judgment and will present its position through legal procedures, including an administrative lawsuit. “We operate our business with a high level of corporate ethics and responsibility and in compliance with laws and regulations,” the company said, adding that it has cooperated faithfully with authorities since the early stages of the investigation and that compliance is a core part of its corporate culture. It also said it has always provided correct and accurate information to the media and customers and will continue to state its position through legal procedures, including filing an administrative lawsuit. * This article has been translated by AI. 2026-03-10 14:45:20
  • PM to head to New York this week to bid for UN AI hub
    PM to head to New York this week to bid for UN AI hub SEOUL, March 10 (AJP) - Prime Minister Kim Min-seok is reportedly arranging to visit New York later this week, according to multiple government sources on Tuesday. Kim is expected to visit U.N. headquarters as early as Thursday to propose that South Korea host a U.N. artificial intelligence (AI) hub, which would be linked to several AI projects currently being pursued by the organization. He is likely to meet with senior U.S. officials including Vice President JD Vance, whom he met during his last visit in January. They are expected to discuss a range of pending issues including tariff-related negotiations. Separately, Kim is scheduled to attend the annual Boao Forum for Asia slated to be held from March 24 to 27 on China's Hainan Island, where he will deliver a keynote speech. Established in 2001, the forum is often called Asia's Davos Forum. 2026-03-10 14:44:59
  • Korean Drugmakers Warn Price Cuts and Middle East Turmoil Could Cripple Industry, Seek Joint Study
    Korean Drugmakers Warn Price Cuts and Middle East Turmoil Could Cripple Industry, Seek Joint Study "Steep drug price cuts will bring down the pharmaceutical industry." The emergency committee for reforming the drug pricing system, formed to promote industry development, issued that warning at an emergency news conference March 10 at the Korea Pharmaceutical and Bio-Pharma Manufacturers Association. The group said signs of strain are already emerging across the sector as the government pushes price cuts and as a newly erupted Middle East situation drives up costs. It urged the government to immediately launch joint studies with industry on three areas: analyzing the impact of price cuts, restoring order in drug distribution, and developing plans to modernize the pharmaceutical industry in a sustainable way. The Ministry of Health and Welfare is set to hold a subcommittee meeting of the Health Insurance Policy Deliberation Committee on March 11 to discuss drug pricing reforms. The government has said it would lower the pricing benchmark for generics from 53.55% of the original drug price to a level in the 40% range. After strong industry opposition, the agenda item was put on hold at the committee in February. With the government and industry at odds over the proposed "40% range" benchmark, the subcommittee discussion is expected to shape a more detailed outline at the committee’s full meeting later this month. The industry says that given listed companies’ operating profit margins of around 5%, it can tolerate a cut only to 48.2%, about 10% lower than the current level. Noh Yeon-hong, a co-chair of the committee, said fears of a "fourth oil shock" are spreading due to the Middle East situation. He said surging international oil prices and exchange rates are sharply increasing cost burdens. He added that companies are already considering cutting research and development and facility investment, halting new hiring and reducing production. Noh said the burden is likely to grow given South Korea’s heavy reliance on imported active pharmaceutical ingredients. He said companies have moved into emergency management, shelving new investment plans. Firms are scaling back or reconsidering R&D and capital spending, he said, while others are giving up on new hiring, voluntarily canceling approvals for low-profit products, or reviewing production-line reductions. The committee formally proposed government-industry joint research on the ripple effects of price cuts, measures to restore distribution order, and a sustainable modernization strategy. The proposed studies would cover: the impact on public health and the industry structure if the government’s reform plan is implemented as drafted; the current state of distribution practices and possible reforms amid a surge in pharmaceutical sales promotion agents, known as CSOs, and commission payments; and broader measures for sustainable advancement. "The pharmaceutical industry is a national strategic industry directly tied to public health," Noh said. He urged the government to accept the request for joint research, produce results within a year, and develop implementation plans to improve transparency and predictability in policymaking and increase acceptance in the field.* This article has been translated by AI. 2026-03-10 14:24:42
  • Volleyball Star Kim Yeon-koung Wins IOC GEDI Champions Award for Asia
    Volleyball Star Kim Yeon-koung Wins IOC GEDI Champions Award for Asia The Korean Sport & Olympic Committee said March 10 that volleyball star Kim Yeon-koung has been named the Asia regional winner of the International Olympic Committee’s Gender Equality, Diversity and Inclusion Champions Awards, known as the IOC GEDI Champions Awards. The award recognizes individuals who help spread the values of gender equality, diversity and inclusion through sport. Winners are selected to represent the world and each continent. The committee said Kim was honored for continuing efforts after retiring as a player to expand women’s participation in sport, strengthen leadership and promote a safe and fair sports environment. During her playing career, Kim helped raise South Korea’s international competitiveness in women’s volleyball and broaden public interest in women’s sports. She was named most valuable player at the 2012 London Olympics and competed in three Olympics — London in 2012, Rio de Janeiro in 2016 and Tokyo in 2020 — with sustained results on the global stage. After retiring, Kim founded the KYK Foundation in 2024 to more systematically support youth athletes and expand sports participation, the committee said. The foundation runs scholarship and training-support programs for young athletes who struggle to continue due to financial constraints, with a focus on reducing barriers faced by girls and helping them stay in sport. It also works to widen opportunities for young athletes and support local sports by hosting a nationwide middle school volleyball tournament, providing equipment to school volleyball teams and operating youth clinics, the committee said. Kim has also taken part in efforts to help women athletes continue their careers and move into leadership roles. Through the broadcast program “Rookie Coach Kim Yeon-koung,” she has provided coaching and mentoring to women athletes who retired or left their teams and supported transitions into coaching and other sports-related fields, the committee said. She has also participated in international sports activities, including serving as an ambassador for the International Volleyball Federation and as a promotional ambassador for the World Anti-Doping Agency’s general assembly, emphasizing athlete education, fair competition and safe sports environments, the committee said. Korean Sport & Olympic Committee President Yoo Seung-min said, “This award to Chairwoman Kim Yeon-koung is a meaningful achievement that shows international recognition of her work to put the values of gender equality and inclusion into practice through sport.” He added, “We plan to continue various efforts so that sport can function as a platform to spread social values.” 2026-03-10 14:24:00
  • OPINION: Investors remain jittery as mixed signals rattle markets
    OPINION: Investors remain jittery as mixed signals rattle markets SEOUL, March 10 (AJP) - The ongoing conflict in the Middle East is rattling global financial markets. Yet the main driver of daily volatility has been the mixed signals about it, rather than the conflict itself. Even a single remark from U.S. President Donald Trump has triggered rapid market swings, sending oil prices and stock indexes soaring or tumbling. In just a few days, crude prices have taken a roller-coaster ride. Brent crude surged to as high as $119 a barrel in Asian trading before sliding back to around $80. The intraday swing approached 30 percent — a level of volatility rarely seen in recent years. Global markets moved just as sharply. South Korean stocks swung from a steep selloff to a rebound in a single day. The country's benchmark KOSPI, after plunging the day before, surged more than 5 percent on Tuesday, while the junior KOSDAQ rose nearly 4 percent. The South Korean won also shifted rapidly against the U.S. dollar, moving from the 1,490-won range to around 1,470 won. Market swings have not been driven by economic fundamentals, as global oil demand has not suddenly collapsed, nor has supply instantly recovered. Instead, markets reacted sharply after Trump's comments that the Middle East conflict is "going to be ended soon." But he also warned, "If it starts up again, they'll be hit even harder." Trump said the war in Iran is "very complete, pretty much," while also saying later in the day, "We could go further. And we're going to go further." With these flip-flops, markets have struggled to stay steady. Iranian religious leaders chose him despite advance warnings from the United States and Israel, a decision seen as a political message that Iran will not yield to outside pressure. The complex nature of the Middle East conflict also suggests longer-term uncertainty. In Iran, Mojtaba Khamenei, widely regarded as a hard-liner, has been elected the country's new supreme leader following the death of his father Ali Khamenei, who ruled Iran with an iron fist for decades. Iranian clerics chose him despite prior warnings from the U.S. and Israel, a decision widely seen as a political message that Iran will not yield to outside pressure. Russia and China have both recognized Mojtaba's leadership and expressed support for Iran, making the situation far more complicated than a regional dispute. With major world powers aligned on opposing sides, the war is unlikely to be resolved quickly. Energy markets are also at risk. Analysts warn that if the Strait of Hormuz, which handles about one-fifth of global oil supply, were blocked, the world could face a shortfall of more than 14 million barrels a day. Some Wall Street analysts warn that oil prices could surge to as high as $150 a barrel. The Group of Seven (G7)'s consideration of releasing strategic petroleum reserves reflects these concerns. The Paris-based International Energy Agency says its member countries hold about 1.8 billion barrels in reserves, which could, in theory, cover Middle East supply disruptions for roughly four months. However, reserves are intended to cushion short-term shocks, not provide a lasting solution if the war drags on. The bigger problem for markets isn't just rising prices - it's the lack of confidence. When a leader's words spark panic rather than provide clarity, investors are left with no reliable ground. Markets thrive on stability, and restoring it will require consistent policy, careful diplomacy, and a coordinated global response to the crisis. After the 1973 oil shock, major powers established strategic petroleum reserves for exactly that reason. The same holds true today, as markets need clear and trustworthy policy direction and a strategy built on international coordination, not mixed political signals. The global economy is already grappling with high interest rates and geopolitical tensions. If leaders' remarks add another source of uncertainty, the burden ultimately falls on markets and the public. What the world needs now is steady, reliable leadership that markets can rely on. * This article, published by Business Daily, was translated by AI and edited by AJP. 2026-03-10 14:17:21