Journalist

Lee Hugh
  • Iran Convenes Emergency Security Council Meeting Amid Fears of Renewed Protests
    Iran Convenes Emergency Security Council Meeting Amid Fears of Renewed Protests Iranian authorities have moved to prepare for a possible return of anti-government protests, amid growing assessments that unrest could flare again soon. Iran International, an opposition outlet, reported Monday (local time) that Iran’s Supreme National Security Council, or SNSC, was recently convened on an emergency basis over concerns that the mass protests that swept the country from late last year into early this year could reemerge. The report said the meeting followed an intelligence assessment that conditions for protests are in place, citing rising prices, worsening unemployment and damage to key industries from the war with the United States and Israel. It also cited analysis that war-related losses in the petrochemical and steel sectors could directly trigger renewed unrest. An anonymous source described as familiar with the meeting said the SNSC views renewed protests not as a matter of “possibility” but of timing. Some officials, the outlet said, have also warned that labor groups inside and outside Iran are urging large demonstrations around International Workers’ Day on May 1, raising the prospect that an uprising could begin sooner than expected.* This article has been translated by AI. 2026-04-28 17:59:27
  • Samyang Foundation Names Hwang Il-doo and Cho Sung-bae as 35th Sudang Award Winners
    Samyang Foundation Names Hwang Il-doo and Cho Sung-bae as 35th Sudang Award Winners Sudang Foundation, the scholarship foundation of Samyang Group, said on the 28th it selected Hwang Il-doo, Seokcheon Chair Professor in the Department of Life Sciences at Pohang University of Science and Technology, and Cho Sung-bae, a professor in the Department of Computer Science at Yonsei University, as winners of the 35th Sudang Award. The Sudang Award is an academic prize established in 1973 to honor the late Kim Yeon-su, founder of Samyang Corp., and his commitment to national industrial development and nurturing talent. Each year, two researchers who have contributed to academic advancement in South Korea are chosen to receive a plaque and 200 million won in prize money each. The awards ceremony will be held May 27 at Lotte Hotel Seoul. Hwang, the basic science winner, was recognized for achievements in plant developmental biology. He identified how the plant growth hormone cytokinin transmits signals and was the first in the world to show the hormone plays a key role in vascular development and the regulation of aging, a body of work credited with strengthening the theoretical foundation for understanding plant development. He also demonstrated that proteins derived from phloem, a plant tissue that transports nutrients, play an important role in determining leaf shape, helping establish a new framework for understanding the evolution of vascular plants. Hwang has previously received the Macrogen Science Award, the Cargill Academy Life Science Award and the National Academy of Sciences Award, among others. Cho, the applied science winner, was honored for using hybrid artificial intelligence technologies to help solve problems in industrial settings. He proposed a method that analyzes data patterns and shifting trends at the same time by combining convolutional neural networks with long short-term memory recurrent neural networks. In research on forecasting household energy demand, he succeeded in producing stable predictions based on real electricity-use data even across variables such as time of day, weather and living patterns. The work, cited for its potential to improve energy efficiency and reduce costs, was highly regarded in academia and was selected in 2020 as a top 1% most-cited paper in the journal "Energy." Cho has also advanced applied research including behavior recognition using smartphone sensors, mobile-based landmark detection and models for classifying vehicle noise. He has received the Korea Information Science Society Academic Award and the Order of Service Merit, and has served as chair of the Technology Innovation Subcommittee under the presidential National Artificial Intelligence Committee. The Sudang Award began in 1973 as the "Sudang Science Award" and was renamed after the launch of Sudang Foundation in 2006. It operates by accepting recommendations in basic science, humanities and social sciences, and applied science, then selecting two researchers with outstanding achievements.* This article has been translated by AI. 2026-04-28 17:58:39
  • Bank of Japan Holds Rate at 0.75% but Strengthens Signals of Future Hike
    Bank of Japan Holds Rate at 0.75% but Strengthens Signals of Future Hike The Bank of Japan on April 28 kept its benchmark interest rate unchanged at 0.75%, as rising inflation pressure collides with growing concern about an economic slowdown. Analysts said the BOJ is maintaining its tightening bias while weighing the timing of its next move. At an afternoon news conference, Gov. Kazuo Ueda said upside risks to inflation are larger, leaving room for a rate hike depending on conditions, while signaling caution about moving immediately. According to the Nikkei, the BOJ decided to maintain its target for the uncollateralized overnight call rate at 0.75%, marking a third straight hold since a rate increase last December. The decision reflected uncertainty as instability in the Middle East pushes up oil prices, potentially hitting both inflation and growth, the report said. The focus, Nikkei said, is not the direction of policy but the pace. Quoting a former BOJ policy board member, it described the decision as a “hawkish hold,” citing an upgraded inflation outlook and adjusted policy wording that more clearly points to future hikes. In its statement, the BOJ removed language referring to improvements in “economic and price conditions” and changed it to “depending on economic, price and financial conditions,” a shift that can be read as keeping the door open to hikes even during a slowdown. In its quarterly “Outlook for Economic Activity and Prices,” the BOJ raised its forecast for fiscal 2026 consumer price inflation to 2.8%, a sharp increase. It cut its real growth forecast to 0.5% from 1.0% projected in January, underscoring what the article called a dual squeeze of higher prices and weaker growth. Yomiuri Shimbun highlighted Ueda’s remarks that upside inflation risks are growing, saying the BOJ is placing greater weight on fighting inflation. Ueda also said he would avoid falling “behind the curve,” leaving open the possibility of an earlier hike if needed. Another notable development was a clearer split inside the BOJ. Three of the nine policy board members opposed holding rates and argued for a hike to 1.0%, a sign of shifting sentiment rather than a routine minority view, the article said. Asahi Shimbun called the internal divide a central issue, saying opposition driven by concern about inflation risks is expanding and altering the balance of views. It said calls for higher rates now include board member Nakagawa, described as a centrist, adding to pressure for a policy shift. Asahi also pointed to a structural dilemma: higher oil prices lift inflation but also weigh on growth, complicating the choice between raising rates and maintaining accommodation. It added that inflation may be becoming easier to sustain as price hikes by companies feed into wage gains. While the BOJ chose to hold, it sought to keep expectations of tightening intact. Nikkei said one reason for the hawkish signal was to prevent renewed yen weakness over the holiday period, recalling that after the April 2024 hold, Ueda’s news conference was interpreted as tolerating a weaker yen, followed by a sharp holiday slide and market intervention by currency authorities. Nikkei also said the BOJ is wary of market talk that a June hike would be difficult; if investors conclude that missing June means no July hike either, it could further weaken the yen. Overall, the article said, the decision was less a passive pause than a strategic wait for a coming hiking phase. With a higher inflation forecast, more internal dissent and Ueda’s hawkish comments, attention has shifted from whether the BOJ will hold to when it will raise rates. Middle East developments and oil prices remain the biggest variables, with the next meeting in June seen as the first key test.* This article has been translated by AI. 2026-04-28 17:57:44
  • President Lee Accepts Resignations of Senior Aide Ha Jung-woo, Spokeswoman Jeon Eun-su Ahead of By-Elections
    President Lee Accepts Resignations of Senior Aide Ha Jung-woo, Spokeswoman Jeon Eun-su Ahead of By-Elections President Lee Jae-myung on the 28th approved the resignations submitted by Ha Jung-woo, the presidential office’s senior secretary for AI and future planning, and spokeswoman Jeon Eun-su. In a notice, senior presidential spokesperson Kang Yu-jung said Lee accepted Ha’s resignation, saying he respected the “difficult decision.” According to the presidential office, Lee told Ha he hoped he would continue to serve the country and the public wherever he works. Kang added that Lee also approved the resignations of Jeon and Kim Seong-beom, vice minister of oceans and fisheries. Ha and Jeon are expected to leave the presidential office as of the 28th and begin preparing for National Assembly by-elections to be held alongside the June 3 local elections. Ha, who is widely expected to run in the Busan Buk-gu Gap by-election, told reporters he had received strong support from Lee during more than 10 months as AI senior secretary. “Some may think 10 months is short, but I have never changed my direction of wanting to build a country where there are opportunities to grow,” he said. He said that wherever he goes, he will focus on what matters most at the time to help make South Korea one of the world’s three leading AI powers, adding that Lee “coolly” let him go. Ha said Lee encouraged him by saying, “You made a big decision. Wherever you go, work for the national interest and the people.” Jeon is expected to run in South Chungcheong Province’s Asan, the constituency of presidential chief of staff Kang Hoon-sik. She told reporters she had worked alongside Lee on state affairs and would now communicate with the public “on the front lines,” adding, “I will do politics for the people.” * This article has been translated by AI. 2026-04-28 17:57:05
  • Robots to take over GOPs in Korea but computing power poses setback
    Robots to take over GOPs in Korea but computing power poses setback SEOUL, April 28 (AJP) - Robots will take over general outposts (GOPs) along the heavily fortified border with North Korea as South Korea grapples with shrinking troop numbers due to depopulation. But maintaining a robotic fleet comes with a catch — massive computing power. The Ministry of National Defense said Tuesday it is reviewing a plan to gradually reduce troops stationed at front-line GOPs and transition to an AI-enabled surveillance system. “The ministry is reviewing a plan to transform GOPs into an AI-based border security system combining manned and unmanned operations, and to pursue related force restructuring,” a ministry spokesperson said. Troop levels at GOPs could be reduced from about 22,000 to around 6,000. The ministry emphasized that the move is not simply about cutting troop numbers, but part of a broader restructuring driven by long-term demographic pressures. “GOP guard forces would be shifted to the Forward Edge of the Battle Area (FEBA), allowing troops to focus on training and preparing for combat while maintaining rapid response capabilities in emergencies,” the spokesperson said. The military is refining a roadmap for phased mid- to long-term pilot programs and complementary measures to ensure readiness during the transition. The plan, however, faces a significant infrastructure shortfall. The military estimates it will need about 50,000 graphics processing units (GPUs) to implement AI systems, but currently operates only around 500 across major defense data facilities, including the Defense Integrated Data Center, battlefield data centers and the Agency for Defense Development. The challenge extends beyond equipment shortages. Even if additional GPUs are secured, constraints in power supply, cooling systems and rack space could limit further expansion. The Agency for Defense Development, which holds roughly 480 GPUs, had planned to add another 320 last year but scrapped the plan due to insufficient installation space. Outsourcing GPU management to commercial cloud providers such as Naver Cloud and Kakao is not an option under National Intelligence Service security guidelines, which restrict such use in defense. Without new data centers, additional GPUs would be difficult to deploy, risking delays to broader military AI adoption. Given national security requirements, any new military data center would likely need to be built underground and hardened against chemical, biological and electromagnetic pulse (EMP) threats, with costs expected to exceed 2 trillion won ($1.4 billion). There are growing calls to build a facility capable of housing large volumes of GPUs, similar to one planned by the Ministry of Science and ICT. The ministry aims to invest 2 trillion won by 2028 to establish a National AI Computing Center with 50,000 GPUs. Separately, the ministry signed a memorandum of understanding Monday with Demis Hassabis, co-founder and chief executive of Google DeepMind, to cooperate on joint research in science, technology and AI, as well as talent development and the responsible use of AI. 2026-04-28 17:56:42
  • Appeals court convicts Kim Keon Hee in stock manipulation case, doubles prison term
    Appeals court convicts Kim Keon Hee in stock manipulation case, doubles prison term Kim Keon Hee, who was indicted on charges including manipulating Deutsch Motors stock and receiving valuables tied to the Unification Church, was sentenced on appeal to four years in prison. The term more than doubled from the first trial’s 20 months after the court reversed part of the stock-manipulation finding and expanded the scope of guilt on brokerage bribery charges. The Seoul High Court’s Criminal Division 15-2 (Judges Shin Jong-oh, Seong Eon-ju and Won Ik-seon) on April 28 sentenced Kim, who was detained and indicted, to four years in prison and a 50 million won fine for violations of the Capital Markets Act and the Political Funds Act, and for brokerage bribery under the Act on the Aggravated Punishment of Specific Crimes. The court also ordered the forfeiture of one Graff necklace and about 20.94 million won in additional collection. "She recognized her account could be used to manipulate prices" The appeals court, unlike the trial court, found part of the stock-manipulation charge proved. It cited that in October and November 2010 Kim provided Black Pearl Invest with an account holding 2 billion won and left trading to the firm, and that during that period 180,000 shares were sold at specific times and prices. Calling it a prearranged trade, the court said she "recognized and accepted that her account could be used to manipulate prices," and held her liable as a joint offender. The court also strengthened its ruling on the Unification Church-related brokerage bribery charge. While the trial court found guilt only in part, the appeals court found implied solicitation across the broader set of items, including a Chanel bag, and convicted her on all counts. It said there was a quid pro quo between the church’s requests for government cooperation and the provision of valuables, calling it a crime that "used the status of the president’s spouse." The court, however, upheld an acquittal on allegations involving free polling services linked to Myung Tae-kyun. It said the polls were provided to multiple people, not only Kim and her husband, making it difficult to treat them as a benefit attributable to a specific individual. It also found insufficient evidence to conclude that a nomination was promised in return for the polling. Court cites harm to "market fairness" and investor trust Explaining the heavier sentence, the court cited the seriousness of the crimes and Kim’s attitude. It said she provided large sums and an account and took part in price manipulation while refusing to acknowledge wrongdoing, adding that she "undermined the fairness of the stock market and investor trust." On brokerage bribery, it said her conduct "betrayed the public’s expectations." The court said mitigating factors included that she did not lead the price manipulation, her involvement was not lengthy, and she did not first demand the valuables. The ruling also tracked a shift in the special counsel’s approach on appeal. Prosecutors argued Kim was not a mere investor but a joint participant in the scheme, and emphasized implied quid pro quo rather than an explicit request in the brokerage bribery case. The court accepted those arguments, expanding the convictions and increasing the sentence. Kim’s side said immediately after sentencing that it would appeal to the Supreme Court. The case will now move to a final review, with key issues including whether she conspired in the stock manipulation and how broadly quid pro quo can be recognized in the brokerage bribery charge.* This article has been translated by AI. 2026-04-28 17:54:48
  • Korean Retailers Roll Out Payment Perks, Pop-Ups to Lure Foreign Shoppers for May Holidays
    Korean Retailers Roll Out Payment Perks, Pop-Ups to Lure Foreign Shoppers for May Holidays Korea’s retail industry is mounting an all-out push to attract foreign tourists and spur domestic spending as holiday periods in South Korea, China and Japan overlap into a major early-May shopping peak. With more travelers visiting independently, retailers are emphasizing easier payments and pairing promotions with K-content experiences. According to the industry on April 28, Lotte Department Store will run a “Shopping Week” promotion for foreign customers timed to Japan’s Golden Week (April 29-May 6) and Labor Day holidays in China and Taiwan (May 1-5). Through May 10, foreign customers who spend at least 1,200 yuan via WeChat Pay will receive an immediately usable 50-yuan discount coupon. Customers who pay 200,000 won or more with Line Pay Taiwan at all branches will earn 10% back in Line points. From May 1-6, shoppers paying with UnionPay at the company’s main store and Jamsil store will get an immediate 10% discount and an additional 10% of their tax refund amount. Lotte is also leaning on theme marketing tied to global character intellectual property. From May 1-17, it will hold “Star Wars Day 2026” around the Jamsil Lotte World Tower area, including a large parade. Through May 6, Lotte World Mall will host Bandai Namco’s “Fancy Festa,” described as Japan’s “Disney.” Shinsegae Department Store will run its largest-ever “Global Shopping Festa” through May 10 at its main store, Gangnam, Times Square and Centum City locations, with more than 100 brands participating. It will offer 10% gift certificates by purchase tier and, in cooperation with UnionPay and WeChat Pay, up to 10% instant discounts and cash-back benefits. Working with Global Tax Free (GTF), it will also provide an additional 10% of the refund amount to accelerate visits from greater China. Shinsegae is also expanding its airport outreach. It is taking part in the “Korea Welcome Week” event at Incheon International Airport, distributing vouchers that include discount coupons of up to 10%. At its Busan Centum City store, customers who spend 300,000 won or more will receive a “K-snack package” featuring seven popular ramen varieties. At its Gangnam and main stores, it will roll out a series of K-fashion pop-ups aimed at trend-conscious foreign shoppers. Hyundai Department Store is strengthening digital convenience and fandom marketing. In February, it partnered with UnionPay to introduce a China-only Apple Pay payment service at department stores and outlets nationwide, offering discounts of up to 12% for mobile payments without a physical card. For Japanese customers, it will give mask packs to those who pay with JCB cards at five key stores, including its Apgujeong flagship. The Hyundai Seoul is running an NCT WISH pop-up store through May 3 to capture demand for merchandise. Later in May, it plans to open a foreigner-only space called “Live Seoul” offering K-beauty experiences. Lotte Mart is putting “K-food” front and center. Working with the Japanese platform Konest, it is issuing advance discount coupons, and at key stores such as Zettaplex Seoul Station it will give luggage tags or travel shopping bags to customers who spend 70,000 won or more. It has secured supplies of its exclusive snack “Cheongwoo Chewy Choco Chip Strawberry,” which previously sold out, and is expanding buy-one-get-one promotions on steady sellers such as ramen and mask packs to meet foreign demand. Shinsegae Duty Free has also strengthened tie-in benefits such as mileage accrual by partnering with global airline and hotel chains. “Because holiday periods in Korea, China and Japan overlap, the retail industry has effectively entered a battle to win foreign customers,” an industry official said. “The payment perks and the level of content differentiation each company prepared will determine sales.” * This article has been translated by AI. 2026-04-28 17:53:41
  • SK ecoplant to buy back 6.5 trillion won in shares to redeem convertible preferred stock
    SK ecoplant to buy back 6.5 trillion won in shares to redeem convertible preferred stock SK ecoplant said April 28 it held a board meeting at its headquarters in Susong-dong, Jongno-gu, Seoul, and approved calling an extraordinary shareholders meeting to proceed with a share buyback. The buyback will cover about 1.33 million shares of convertible preferred stock, or CPS, issued in 2022. Of that, SK will purchase part of the CPS held by financial investors, valued at 200 billion won. SK ecoplant will acquire the remaining portion, valued at 650 billion won. The company said it is pursuing redemption of the CPS after weighing factors including easing future financial burdens such as dividends and protecting shareholder interests. It said the redemption will be funded with its own cash and other internal resources, without separate external financing. SK ecoplant has been accelerating a rebalancing effort to reshape its business around semiconductor and artificial intelligence infrastructure. The company said it is building semiconductor fabrication facilities and AI data centers while securing a value chain spanning key semiconductor materials, industrial gases, semiconductor module products and recycling. It said AI infrastructure-related businesses accounted for 67% of its revenue last year. An SK ecoplant official said the company will continue to raise corporate value by strengthening profitability and financial soundness based on its differentiated competitiveness in semiconductors and AI infrastructure. * This article has been translated by AI. 2026-04-28 17:53:04
  • KOSPI extends rally, hitting new milestone
    KOSPI extends rally, hitting new milestone SEOUL, April 28 (AJP) - South Korea's benchmark KOSPI closed Tuesday at a new high after testing a new milestone as the sole winner in Asia. The main bourse added 0.4 percent to finish at 6,641.02 points after climbing as high as 6,712.73, extending its winning streak to a seventh consecutive session. Institutional investors purchased 351.1 billion Korean won (US$270 million) worth of shares, while foreign and retail investors sold 184.5 billion won and 130.3 billion won, respectively, indicating that the rally was increasingly driven by domestic institutional flows as other investors took profits. The rally has been underpinned by sustained global inflows into artificial intelligence (AI)-linked semiconductor stocks, with the country's market capitalization surging more than 45 percent this year to around $4.04 trillion, overtaking the United Kingdom and highlighting its growing prominence in the global AI investment cycle. The gains reflect South Korea's outsized exposure to AI-linked sectors, amplifying its outperformance relative to regional peers. Among major stocks, SK hynix rose 0.6 percent to 1,300,000 won, while Hyundai Motor jumped 5.9 percent to 555,000 won, reflecting a broadening of the AI-driven rally beyond semiconductors as investor interest extended to automakers amid growing expectations for partnerships in autonomous driving and robotics. Samsung Electronics, however, fell 1.1 percent to 222,000 won, signaling profit-taking in index heavyweights following recent gains. In contrast, the junior KOSDAQ fell 0.9 percent to close at 1,215.6, reversing earlier strength as foreign and institutional investors offloaded a combined 786.8 billion won worth of shares. Retail investors bought a net 796.0 billion won, helping to limit losses. The divergence between the two major indexes highlights a shift toward large-cap, AI-linked stocks at the expense of higher-risk stocks. Biotech and high-growth stocks led declines, reflecting continued pressure on high-valuation segments, even as some battery-related shares showed resilience. The South Korean won edged down to 1,474.0 per dollar amid lingering global uncertainty. Elsewhere in Asia, Japan's Nikkei 225 fell 1.1 percent to 59,917.5 after the Bank of Japan held its policy rate at 0.75 percent while signaling the possibility of further tightening. China's Shanghai Composite slipped 0.2 percent and Hong Kong's Hang Seng Index dropped 0.9 percent, as elevated energy prices and geopolitical risks weighed on regional sentiment. Meanwhile, oil prices extended gains, with Brent crude hovering above $110 per barrel amid prolonged disruptions in the Strait of Hormuz. 2026-04-28 17:52:56
  • Retailers, Travel Firms Target May Holiday Surge as Japan, China Vacations Overlap
    Retailers, Travel Firms Target May Holiday Surge as Japan, China Vacations Overlap From late April through early May, South Korea’s retail and travel industries are gearing up for a three-nation holiday rush as extended breaks in Korea, China and Japan overlap. Japan’s Golden Week (April 29-May 6) and the Labor Day holidays in China and Taiwan (May 1-5) begin at the same time this week, prompting companies to step up efforts to attract visitors to Korea. The Ministry of Culture, Sports and Tourism and the Korea Tourism Organization said April 28 they expect 80,000 to 90,000 Japanese tourists and 100,000 to 110,000 Chinese tourists to visit Korea during the holiday period. In the first quarter, arrivals from Japan and China totaled 940,000 and 1.45 million, respectively, the highest levels on record. Korea is also expected to see stronger domestic travel and shopping demand, with a string of holidays running from Labor Day on May 1 — designated a statutory holiday for the first time this year — through Children’s Day on May 5. The influx of Japanese and Chinese visitors is also being watched for its potential to lift second-quarter retail conditions. The Korea Chamber of Commerce and Industry previously forecast a subdued outlook, with its 2026 second-quarter Retail Business Survey Index at 80, little changed from 79 in the prior quarter, citing Middle East-driven geopolitical risks and prolonged high inflation, a weak won and high interest rates as constraints on domestic demand. Industry expectations have picked up, however, as the Korea-China-Japan holiday overlap coincides with the phased rollout of the government’s “high oil price damage relief payments,” which could add to consumer spending power. Department stores and duty-free shops are rolling out promotions aimed at foreign shoppers, including discount coupons and point rewards. Big-box retailers are expanding K-food promotions — a staple on many visitors’ shopping lists — and adding more convenient payment benefits to encourage spending. Restaurants, convenience stores and other offline retailers are also preparing broad discount events and securing inventory, betting that relief-payment spending will translate into stronger purchasing power in neighborhood commercial districts. “By capturing both foreign tourist demand and domestic demand boosted by the oil-price relief payments, the industry could move beyond simply protecting second-quarter results and deliver a meaningful rebound,” an industry official said.* This article has been translated by AI. 2026-04-28 17:52:16