Journalist
Lee Hugh
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Korean Air Chosen to Lead SkyTeam Safety, Security and Quality Advisory Group Korean Air will help steer safety policy for SkyTeam, the global airline alliance. Korean Air said Tuesday it was elected chair airline of SkyTeam’s Safety, Security and Quality advisory group, known as SSQ. Bennett Allen Walsh, head of Korean Air’s Aviation Safety and Security Office, will serve a two-year term as an SSQ committee chair. The SSQ chair airline advises SkyTeam member carriers on safety, security and quality policies, as members work to raise industry standards worldwide. Korean Air said it will work with the SkyTeam board to advance key safety agenda items and share best practices among member airlines to strengthen cooperation. It plans to focus on reinforcing international standards for the in-flight use of portable battery packs, an issue that has drawn global attention, and on standardizing the SkyTeam emergency response plan, which defines airlines’ procedures, organization and roles during emergencies. A Korean Air official said the role will help solidify the carrier’s standing within SkyTeam and broaden cooperation among member airlines, strengthening its global competitiveness.* This article has been translated by AI. 2026-04-29 08:49:57 -
Korea Investment & Securities: Hantech Leads Heat Exchanger Makers in North America Sales Share Korea Investment & Securities said Tuesday that Hantech has the highest share of North American sales among South Korean heat exchanger makers. It did not provide a target price or investment rating. Kim Geon-woo, an analyst at Korea Investment & Securities, said Hantech is a maker of chemical-process equipment, with heat exchangers as its main product, and noted that liquefied natural gas, or LNG, infrastructure expansion is accelerating in the United States and Canada. He said the company is expected to benefit from a growing number of LNG terminals, which require liquefaction facilities, adding that North America accounts for 48% of Hantech’s revenue — the highest contribution among peers. Kim also forecast gains from increased investment by semiconductor companies. He said Hantech supplies ultra-low-temperature gas storage tanks installed at domestic semiconductor fabrication plants, and that major fab investment by customers this year is expected to drive orders. He cited expected large-scale investment including SK hynix’s Yongin semiconductor cluster Y1 and Samsung Electronics’ Pyeongtaek P5, and said construction of Pyeongtaek P4 Phase 2 will resume. He projected both revenue and orders will grow as downstream companies expand investment. Kim said new orders have topped 70 billion won, including a 28 billion won supply contract signed in January with Shintech Louisiana and an order for a U.S. ammonia project. He noted the figure does not yet include additional orders tied to U.S. LNG projects and South Korea’s semiconductor sector.* This article has been translated by AI. 2026-04-29 08:49:15 -
Hyundai Glovis Adds ‘Glovis Leader,’ World’s Largest Car Carrier, to Fleet Hyundai Glovis has introduced what it called the world’s largest pure car and truck carrier, aiming to strengthen its position in the global finished-vehicle ocean transport market. The company said 29일 it will deploy the 10,800-vehicle PCTC, the Glovis Leader, for finished-vehicle shipping. A naming ceremony was held 28일 at the GSI shipyard in Guangzhou, China, attended by Hyundai Glovis CEO Lee Kyoo-bok and other officials. The vessel is 230 meters long and 40 meters wide, with a weight of 102,590 tons. It has 14 cargo decks, with total loading space roughly equivalent to 28 soccer fields. Based on compact cars, it can carry up to 10,800 vehicles. Hyundai Glovis said it is the first global car carrier operator to introduce a PCTC with capacity exceeding 10,000 vehicles, and that the ship is currently the largest PCTC in the world. The ship is equipped with a liquefied natural gas dual-fuel propulsion engine and can use shore power facilities, known as AMP, which the company said will help it respond to tightening environmental rules such as the European Union’s carbon emissions trading system. AMP supplies electricity from land to a ship while it is docked. Without it, vessels typically run onboard generators using bunker C fuel to power equipment such as refrigeration, emitting sulfur oxides, nitrogen oxides and fine dust. Using shore power can sharply reduce those emissions. Hyundai Glovis said the PCTC will be rotated across global routes. Hyundai Glovis said it plans to expand its operating PCTC fleet to 128 vessels by 2030, including the newly introduced ship. It also aims to increase the number of finished vehicles it transports by sea to 5 million a year by 2030, from 3.4 million, and to handle more than about 20% of global finished-vehicle ocean cargo volume. The company has also stepped up efforts to secure cargo from non-affiliated customers. Last year, it signed ocean transport contracts with multiple automakers in Europe, North America and China. With China’s vehicle exports rising, non-affiliate revenue has increased to about 53%, surpassing affiliate revenue, it said. Industry officials said Hyundai Glovis’ continued addition of PCTCs could help ease a global shortage of car-carrier capacity. In recent years, a surge in vehicle export volumes from the Far East has prolonged the capacity shortage. Geopolitical risks around the Middle East and the Red Sea have also pushed many PCTCs onto longer detours, extending transit times and worsening the shortage. A Hyundai Glovis official said the company will continue to strengthen its competitiveness in finished-vehicle ocean transport and provide stable supply-chain services to global shippers.* This article has been translated by AI. 2026-04-29 08:48:28 -
Veterans Affairs Minister Kwon Oeul Meets Heads of Six Veterans Hospitals to Review Medical Supplies Kwon Oeul, South Korea’s minister of Patriots and Veterans Affairs, will meet with the heads of six veterans hospitals to review operations and share improvement cases, the ministry said. The ministry said the meeting will be held Tuesday afternoon at the Government Complex Sejong, with Kwon; Yoon Jong-jin, chairman of the Korea Veterans Welfare and Healthcare Corp.; and the directors of the veterans hospitals in Seoul, Busan, Gwangju, Daegu, Daejeon and Incheon. Officials plan to recognize hospital leaders for maintaining services in a difficult medical environment and to review changes and results from operational improvements each hospital has pursued since an agency work report in January. Topics will include expanding high-quality medical staff, reducing outpatient waiting times, and improving treatment and payment processes. Kwon also plans to urge hospitals to continue securing appropriate inventory and managing supplies systematically, in line with government policy, amid recent instability in supplies of medical items such as syringes linked to the war in the Middle East. “Even under difficult conditions, I thank the medical staff and officials who have protected the veterans medical front line,” Kwon said. “Based on changes and experience built in the field, we will strengthen cooperation among veterans hospitals and continue to improve the quality of veterans medical services.” * This article has been translated by AI. 2026-04-29 08:47:51 -
BTS Concerts Spur Surge in Foreign Visitors and Spending Near Venues, Data Show K-pop’s reach is extending beyond arenas and into nearby neighborhoods, with government-backed analysis showing sharp increases in foreign visitors and card spending around BTS concert sites. Foreign arrivals near a Goyang venue rose 35-fold and card spending climbed 38-fold, underscoring what officials described as spillover benefits for local businesses. Surveys also found that overseas fans stayed longer and spent more than typical visitors to South Korea, drawing attention to Hallyu-linked tourism as a potential boost to domestic demand. ◆ ‘BTS effect’ hits local streets: about 300 million won spent in three days According to a big-data analysis by the Ministry of Culture, Sports and Tourism and the Korea Tourism Organization, the number of foreign visitors in Daehwa-dong, an administrative neighborhood in Ilsanseo-gu, during the three days of BTS concerts in Goyang totaled 48,581. That was up 3,377% from 1,397 a year earlier, or about 35 times higher. Spending rose even faster. Foreign card spending in the area jumped 3,699% over the same period, to 337.8 million won from 8.9 million won, adding momentum to small local businesses. ◆ Longer stays, higher spending: survey points to high-value visitors A field survey by the Korea Culture & Tourism Institute found that foreign visitors who came to South Korea to attend the Gwanghwamun performance on March 21 stayed an average of 8.7 days and spent 3.53 million won per person. In the first quarter, average foreign tourists stayed 6.1 days and spent 2.45 million won, making the concertgoers’ figures about 1.4 times higher on both measures. Attendees of the Goyang Sports Complex concerts stayed an average of 7.4 days and spent 2.91 million won, the survey found. The visitors did more than attend concerts, expanding their itineraries to sites tied to the “BTS THE CITY Seoul” program, including Yongsan, Myeongdong, Dongdaemun Design Plaza (DDP) and the National Museum of Modern and Contemporary Art. ◆ Building K-culture travel routes to expand regional tourism The government said it aims to spread the economic impact of major Hallyu events beyond the Seoul metropolitan area by linking concerts to regional tourism. It plans to run a “welcome week” from June 1 to 15 in connection with BTS concerts in Busan scheduled for June 12-13, seeking to draw foreign tourists to the region. Officials also said they will continue developing signature Hallyu tourism routes that bundle regional K-pop concerts with hands-on exhibitions and drama filming locations. Kang Jeong-won, director-general for tourism policy at the Ministry of Culture, Sports and Tourism, said the key is connecting K-culture with local tourism content so large Hallyu concerts lead to regional visits. He said the ministry will actively support efforts so regional trips by overseas visitors develop into longer, stay-based tourism. 2026-04-29 08:46:43 -
Doosan Tesna Expands Semiconductor Test Capacity, Restarts Pyeongtaek Plant 2 Project Doosan Tesna is making a large investment to expand its semiconductor testing infrastructure. According to industry sources on the 29th, the company disclosed that it decided to acquire about 190.9 billion won worth of tangible assets, including semiconductor test equipment, from Teradyne (TERADYNE (ASIA) Pte.,LTD) and SEMES, among others. Doosan Tesna said it will bring in the equipment in stages through the end of this year and continue expanding its semiconductor testing capacity. The company also increased a previously disclosed equipment investment plan of about 171.4 billion won, announced in October last year. Citing rising product demand, it raised the planned amount to about 205.3 billion won. Counterparties include Advantest Corporation and SEMES, among others. In addition, Doosan Tesna disclosed it will fully resume investment in a new facility for its second plant in Pyeongtaek, after adjusting the start date in line with market conditions. The investment totals about 230.3 billion won, with completion targeted for November 2027. A Doosan Tesna official said the asset purchases and plant construction are “proactive steps to secure a foundation for future growth,” adding they are expected to play an important role in boosting revenue and operating profit over the mid to long term.* This article has been translated by AI. 2026-04-29 08:42:04 -
Singer Shin Jung-hwan Promotes ‘Excel Broadcast’ Cyber Hostess Show, Recruiting Crew Singer Shin Jung-hwan, known as a member of Country Kko Kko, has been confirmed as taking a lead role as a representative for a so-called “Excel broadcast,” described as a cyber room salon-style livestream. According to reporting on the 29th, Shin posted a notice on an entertainment company’s official social media account seeking applicants for an “Excel broadcast, first crew recruitment.” He wrote that he would “open a new paradigm for Excel broadcasts” and publicly recruited participants for the project. In the post, Shin said he was looking for fixed members for the first lineup of the “Shin Jung-hwan Excel broadcast” project, describing it as a chance to break past the limits of broadcasting and build a crew that can “laugh, grow and create a huge fandom” together. He also promoted support including skin care and makeup services, a dedicated studio with interior design, and professional equipment for streaming. The notice said participants would receive close assistance such as one-on-one directing, management, video editing and web design for branding. The post also promised a “transparent and fair profit structure,” saying it would offer top-level treatment in the industry, reasonable and transparent revenue sharing, and weekly settlements if needed. It added that any adult man or woman age 20 or older could apply. A promotional video released with the notice introduced him as “One Label CEO Shin Jung-hwan” and showed women described as “Maxim models” and “former racing girls” being interviewed or dancing to music. Shin drew controversy in 2010 over allegations of gambling in the Philippines and later halted activities amid criticism over false explanations related to dengue fever. 2026-04-29 08:41:16 -
NH NongHyup Bank to Provide 500 Billion Won in Financial Support to OCI NH NongHyup Bank said it is moving to provide 500 billion won ($500 million) in financial support to OCI as part of efforts to foster future strategic industries. The bank said April 29 that it signed a financial cooperation agreement with OCI aimed at expanding “productive finance” and supporting future strategic industries. Under the agreement, NH NongHyup Bank plans to provide a total of 500 billion won in productive financing over the next three years. The bank said the support will go beyond simple funding to meet company needs, including technology development, facility investment and overseas exports. “We will do our best to serve as a reliable financial partner for OCI’s growth,” bank President Kang Tae-young said. “We will continue to contribute to national economic growth through productive financial support.” OCI is a chemical materials company that produces basic chemicals and advanced semiconductor materials, including polysilicon for semiconductors and hydrogen peroxide.* This article has been translated by AI. 2026-04-29 08:40:42 -
Chaebi, Hyundai Motor launch EV charging subscription with 299 won-per-kWh discount Chaebi, a South Korean operator of fast EV charging infrastructure, said April 29 it has partnered with Hyundai Motor to roll out a Hyundai-only EV charging subscription plan. The plan, aimed at buyers of new Hyundai vehicles, offers a discounted rate of 299 won per kWh at Chaebi chargers and partner roaming stations. It also includes a 10% discount on Chaebi credit purchases of 10,000 won or more and discount coupons for “Chaebi Wash,” a premium hand car-wash service at Chaebi Stay. Customers can sign up through the subscription menu in the My Page section of the Chaebi app. The company said the benefits are designed to apply to all new-car buyers this year, regardless of delivery timing. With monthly fees of 19,900 won or 9,900 won, subscribers can use Chaebi’s ultra-fast and fast charging network nationwide at reduced rates for the remainder of 26. At Chaebi Stay, charging discounts, credit discounts and premium hand-wash benefits are offered as a package. “This cooperation is a starting point for Hyundai Motor and Chaebi to write a new standard for the EV charging experience together,” Chaebi CEO Choi Young-hoon said.* This article has been translated by AI. 2026-04-29 08:39:59 -
Korea Investment & Securities raises HPSP target price 20% on AI-driven chip spending Korea Investment & Securities on Tuesday raised its target price for HPSP by 20% to 65,000 won from 54,000 won, citing expected benefits from expanding artificial intelligence demand that is driving investment in foundry and memory chips. It maintained its “buy” rating. Researcher Chae Min-sook said TSMC’s shortage of 3-nanometer production capacity is expected to create spillover gains for Intel and Samsung Foundry, and that HPSP should benefit because it supplies equipment to all three leading-edge foundries. She added that rising AI demand is expected to lift utilization not only at 12-inch legacy foundries but also at 8-inch foundries, increasing the likelihood of revenue growth for HPSP, which has a broad base of foundry customers. HPSP has grown mainly with foundries on the back of its high-pressure hydrogen annealing equipment, and the brokerage expects its expansion into memory semiconductors to accelerate. As AI systems increase the share of NAND used, demand is rising to convert related processes, and equipment demand is expected to grow in tandem, it said. Major chipmakers are also speeding up investment as competition intensifies to stack more NAND layers. SK hynix plans to convert about half of its NAND production bits to 321-layer technology in 2026, while Samsung Electronics is accelerating process conversions at its Xi’an and Pyeongtaek plants. Kioxia and YMTC are also pursuing capacity expansion and process upgrades at the same time. The brokerage said this trend is likely to translate directly into growth in HPSP’s NAND-related revenue. Momentum is also expected in DRAM. The report said pilot-line investment in the 1d nanometer process is set to begin from late 2026, and from that stage the use of high-pressure hydrogen annealing is expected to expand. That would allow HPSP to extend growth proven in foundries into memory and strengthen its medium- to long-term earnings base, it said. The brokerage added that the global foundry market remains supportive. With AI inference demand rising, utilization is increasing not only at leading-edge foundries but also at legacy foundries that produce power management ICs, and the possibility of expanded capital spending by major players is being discussed. In a broader investment upcycle, it said, HPSP is expected to benefit given that it counts most foundry companies among its customers. * This article has been translated by AI. 2026-04-29 08:39:10