Journalist

Lee Hugh
  • Police Stop Man in His 50s From Attempted Self-Immolation Outside Democratic Party HQ
    Police Stop Man in His 50s From Attempted Self-Immolation Outside Democratic Party HQ A man who tried to set himself on fire outside the Democratic Party’s headquarters in Seoul was stopped by police and taken to a hospital. Yonhap reported that at about 4:22 p.m. on the 27th, the man, identified only as A and in his 50s, poured oil on himself in front of the Democratic Party’s central headquarters in Yeouido and attempted self-immolation. Police intervened, and authorities confirmed his body did not catch fire. A told police he went to the party office to appeal for help resolving a grudge with an acquaintance, and officials said he appeared to have no particular political motive. He was transported to a hospital under procedures for reports involving suicide attempts. * This article has been translated by AI. 2026-04-27 21:00:06
  • Nikkei: Samsung Electronics to Exit China Home Appliance and TV Sales This Year
    Nikkei: Samsung Electronics to Exit China Home Appliance and TV Sales This Year Samsung Electronics plans to withdraw from its home appliance and TV sales business in China within this year, Japan’s Nikkei reported Sunday. Citing Yonhap News Agency, the report said Samsung could make a final decision as early as this month, then brief business partners and local employees and gradually sell off inventory, with the aim of ending sales completely by year’s end. The company plans to keep its local production system for appliances such as refrigerators, washing machines and air conditioners, and use it as a supply hub for nearby countries, the report said. Samsung was quoted by the newspaper as saying, “Nothing has been decided.” On April 15, Yong Seok-woo, head of Samsung Electronics’ Visual Display business, addressed reports in Chinese media that the company was considering scaling back its appliance and TV business there. He said it was true the China business was difficult and that the company was reviewing options and the process was ongoing. * This article has been translated by AI. 2026-04-27 20:42:16
  • Prosecutors Drop Case Alleging Preferential Treatment in Korea Gas Corp. Site Development Tied to President Lee
    Prosecutors Drop Case Alleging Preferential Treatment in Korea Gas Corp. Site Development Tied to President Lee President Lee Jae-myung’s case stemming from allegations of preferential treatment in the development of a Korea Gas Corp. site in Seongnam, Gyeonggi Province, has been closed without indictment after three years. Yonhap News reported Monday that the Seoul Central District Prosecutors Office’s Anti-Corruption Investigation Division 3 dismissed the complaint on April 17. The case alleged abuse of authority, obstruction of others’ exercise of rights and dereliction of duty. The allegations surfaced during the 20th presidential election campaign alongside claims of preferential treatment in the Daejang-dong and Baekhyeon-dong development projects. The Korea Gas Corp. project involved redeveloping the company’s former site at 215 Jeongja-dong in Bundang-gu into a residential complex. The site covers 16,725 square meters. After the company’s headquarters moved to Daegu in September 2014, the property went through a sales process. But it failed to sell six times because regulations for business and commercial use limited the floor area ratio to 400% or less and the building coverage ratio to 80% or less. In June 2015, Company A won the site through a competitive bid. The complaint alleged that Lee, then Seongnam mayor, allowed housing development on the site and raised the floor area ratio to 560% in exchange for conditions such as donating buildings to the city. Prosecutors concluded the complaint was speculative and lacked sufficient specific grounds or circumstances to open a formal investigation, and dismissed the case.* This article has been translated by AI. 2026-04-27 20:21:16
  • Appeal Opens in Yoon Suk Yeol Insurrection Ringleader Case; Defense Challenges Special Court Law
    Appeal Opens in Yoon Suk Yeol Insurrection Ringleader Case; Defense Challenges Special Court Law Yoon Suk Yeol’s appeal trial on charges of being the ringleader of an insurrection tied to the Dec. 3 emergency martial law began on the 27th. The Seoul High Court’s Criminal Division 12-1 held the first pretrial hearing in Yoon’s case that day. Proceedings also began for seven senior military and police officials indicted with him, including former Defense Minister Kim Yong-hyun and former National Police Agency Commissioner Cho Ji-ho. Defendants are not required to attend pretrial hearings. Yoon did not appear in court. Among the defendants, only former National Police Agency National Investigation Headquarters planning and coordination director Yoon Seung-young and former Seoul Metropolitan Police Agency National Assembly Security Unit chief Mok Hyun-tae attended. Before moving forward, the panel referred to requests by Yoon and others for a constitutional review of the law applied to the proceedings. On the 21st, the defense asked the court to seek a constitutional ruling on the Special Act on Criminal Procedure for insurrection, foreign aggression and rebellion cases, arguing that the special division set up under the act is unconstitutional. The court said it will continue the pretrial process on May 7, when it plans to detail the order and method for examining evidence. In the first trial, Yoon was sentenced to life in prison. Kim was sentenced to 30 years in prison; former Defense Intelligence Command chief Noh Sang-won to 18 years; Cho to 12 years; former Seoul police chief Kim Bong-sik to 10 years; and Mok to three years. Former Third Field Army Command military police chief Kim Yong-gun and Yoon Seung-young were acquitted.* This article has been translated by AI. 2026-04-27 20:12:19
  • Prosecutors Seek 20-Year Prison Term for Park Sung-jae in Martial Law Insurrection Case
    Prosecutors Seek 20-Year Prison Term for Park Sung-jae in Martial Law Insurrection Case Park Sung-jae, a former justice minister indicted on charges of participating in insurrection-related crimes tied to the Dec. 3 martial law declaration and acting on an alleged request involving first lady Kim Keon Hee, was asked to be sentenced to 20 years in prison. At a closing hearing Monday before the Seoul Central District Court’s Criminal Division 33, the special counsel team led by Cho Eun-seok requested the sentence for Park on charges including playing a key role in an insurrection and abuse of authority. The team urged the court to impose a severe judgment “to sound the alarm for a ‘legal technician’ who destroys the law in the name of the law.” On the insurrection allegation, the special counsel said Park “actively went along” so that “Yoon Suk Yeol’s crime using martial law as a means could succeed,” and that he took the lead in justifying and procedurally supporting it. On the allegation involving Kim, the team said Park accepted and carried out “an improper request” from the president’s wife, adding that his actions should be seen not as communication but as “active collusion tied to power.” Park is accused of sequentially joining Yoon’s alleged insurrection after the Dec. 3, 2024, martial law declaration by convening a Justice Ministry executives’ meeting and ordering reviews of dispatching prosecutors to a joint investigation headquarters, checking correctional facilities’ capacity, and having staff responsible for travel bans report to work. He is also accused of giving improper instructions to subordinates after receiving a request from Kim in May last year to determine how a dedicated investigative team at the Seoul Central District Prosecutors’ Office was formed for a case involving the receipt of a luxury bag. The court is scheduled to deliver its first-trial verdict on June 9.* This article has been translated by AI. 2026-04-27 19:48:19
  • Special counsel seeks 20 years for Park Sung-jae over martial law role, alleged Kim Keon-hee favor
    Special counsel seeks 20 years for Park Sung-jae over martial law role, alleged Kim Keon-hee favor Special counsel prosecutors on Sunday sought a 20-year prison term for Park Sung-jae, a former justice minister on trial for allegedly taking part in the Dec. 3 martial law episode and acting on a request tied to an investigation involving first lady Kim Keon-hee. The team led by special counsel Cho Eun-seok asked the Seoul Central District Court’s Criminal Division 33, presided over by Judge Lee Jin-kwan, to sentence Park to 20 years in prison on charges including playing a key role in an insurrection and abuse of power. In closing arguments, the special counsel team described Park as a “legal technician who destroys the law,” arguing that he knew the emergency martial law declared by Yoon Suk Yeol lacked constitutional requirements but still offered ideas to give it the appearance of legality and mislead the public. Prosecutors said Park’s actions immediately after the declaration — moving to the Justice Ministry complex in Gwacheon and ordering an emergency standby for the travel-ban team, reviewing the dispatch of prosecutors to a joint investigation headquarters, and checking prison capacity — amounted to concrete steps to carry out the alleged insurrection. They said the measures were meant to isolate resisting opponents and process them through the justice system, adding that Park “turned the Justice Ministry overnight into an instrument for executing an insurrection.” On the allegation of collusion involving the first lady, prosecutors said Park accepted what they called a directive-like request from the president’s spouse, a private citizen, and exercised law-enforcement authority arbitrarily. “This was not communication but active collusion,” they said. They urged the court to impose a severe sentence, saying it must “send a warning to those who destroy the law in the name of the law.” Park has denied the charges, saying he carried out normal duties under relevant laws. The first-trial verdict has drawn public attention because the case involves what prosecutors described as an unprecedented justice minister accused of joining an insurrection. According to the special counsel’s investigation, Park is accused of sequentially joining Yoon’s alleged insurrection after Yoon declared emergency martial law on Dec. 3, 2024. Prosecutors say Park convened a meeting of senior officials at the Justice Ministry, ordered staff responsible for travel bans to report to work, and directed reviews of sending prosecutors to a joint investigation headquarters and checking prison capacity. He is also accused of having the ministry’s prosecution bureau draft an “abuse of authority document” containing arguments to justify martial law shortly after it was lifted. Park is also accused of ordering staff to confirm details after receiving a Telegram message from Kim last May asking him to determine the progress of an investigation. The allegation arose after then-Prosecutor General Lee Won-seok instructed the formation of an investigative team over suspicions that Kim received a luxury bag. Separately, the special counsel team sought a three-year prison term for Lee Wan-kyu, a former head of the Korea Legislation Research Institute, who was indicted for perjury before the National Assembly under the Act on Testimony, Appraisal, etc. at the National Assembly. Lee is accused of falsely testifying that there was no discussion of martial law at a post-lifting “safe house meeting.” Lee told the court the gathering was merely social, but prosecutors argued that, amid a grave political situation in which a presidential impeachment bill had been introduced, key aides meeting while carrying stacks of documents amounted to a countermeasure session to develop arguments to justify martial law. They also said Lee deliberately committed perjury by reducing the number of attendees in his testimony from five to four.* This article has been translated by AI. 2026-04-27 19:33:20
  • South Korea Unveils Slogan for Kim Gu’s 150th Birth Anniversary UNESCO Commemoration
    South Korea Unveils Slogan for Kim Gu’s 150th Birth Anniversary UNESCO Commemoration “My Wish, Culture of Peace.” Prime Minister Kim Min-seok on Monday convened the Lee Jae-myung government’s first National Patriots and Veterans Committee meeting at the Government Complex Seoul. The committee finalized a plan to carry out commemorative projects for the UNESCO commemoration year marking the 150th anniversary of Kim Gu’s birth and announced the official slogan. The government chose “My Wish, Culture of Peace” to underscore what it called the universal value of Baekbeom’s ideas. The government said it will continue to refine and develop the plan through communication and cooperation with the Baekbeom Kim Gu Memorial Museum, the Korean National Commission for UNESCO, the Liberation Association, the cultural sector and young people. It set three main directions for the projects: “reexamining values,” “unity and solidarity,” and “remembrance and succession,” and said it will pursue commemorative programs under subthemes aligned with those goals. Planned flagship events include an international academic conference in July and August, a joint academic conference by the Baekbeom Kim Gu Memorial Museum and the National Museum of Korean Contemporary History in October, Gwanghwamun Culture Week in August, and the Baekbeom Award ceremony in August. * This article has been translated by AI. 2026-04-27 19:06:17
  • Mirae Asset Securities Seen Leading Q1 Operating Profit on SpaceX Valuation Gain
    Mirae Asset Securities Seen Leading Q1 Operating Profit on SpaceX Valuation Gain A shift may be underway in the race for the top spot between Korea Investment & Securities and Mirae Asset Securities. After trailing for three straight years, Mirae Asset is increasingly seen as likely to reclaim the lead in first-quarter operating profit, helped by gains tied to its SpaceX investment. Attention is also turning to whether the annual ranking could flip as well. Financial data provider FnGuide said Monday that Mirae Asset’s consolidated first-quarter operating profit consensus stands at 1.3572 trillion won. If realized, it would mark the first time a Korean securities firm posts more than 1 trillion won in quarterly operating profit. Rival Korea Investment & Securities is estimated at about 822 billion won for the quarter. Mirae Asset’s strong quarter reflects a large valuation gain related to its SpaceX stake. The firm invested more than 400 billion won in SpaceX through vehicles including Mirae Asset AI Investment Association No. 1 and Space Investment Association No. 1. The company’s valuation is said to have surged ahead of a planned initial public offering. SpaceX, a U.S. private aerospace company founded by Elon Musk, is pursuing an IPO with June as its target. The outlook has fueled talk of a reversal in the full-year standings. The market expects Mirae Asset to post 3.1240 trillion won in operating profit for the year, topping the 2.8116 trillion won forecast for Korea Investment & Securities. Last year, Korea Investment & Securities ranked No. 1 with 2.3427 trillion won, ahead of Mirae Asset’s 1.9150 trillion won. The two firms’ rivalry has swung in recent years. In 2022, Mirae Asset led with 835.5 billion won in operating profit versus Korea Investment & Securities’ 400.1 billion won, but the positions later reversed. In 2023, Korea Investment & Securities posted 664.0 billion won, beating Mirae Asset’s 521.0 billion won, and in 2024 it stayed ahead with 1.2837 trillion won versus 1.1590 trillion won. Last year, Korea Investment & Securities widened the gap by becoming the industry’s first to surpass 2 trillion won in operating profit. The swings reflect differences in business structure. Mirae Asset has strengthened fee income from wealth management and brokerage while expanding overseas investing, a mix that can produce stable fees but also sharper earnings moves depending on global investment results. Korea Investment & Securities, by contrast, is stronger in investment banking and trading, using large-scale funding such as short-term notes to generate returns even during volatile markets. Analysts cite the global investment environment and whether the firms can establish their IMA businesses as key variables in the fight for the top spot. “Korea Investment & Securities has held the No. 1 position in recent years, but its IB- and trading-centered structure can lead to earnings swings with market volatility,” a financial investment industry official said. “With a strong market, Mirae Asset’s brokerage and WM-based income is relatively stable, and if investment returns support it, it can regain the lead at any time.” * This article has been translated by AI. 2026-04-27 19:03:12
  • Democratic Party Picks Lee Kwang-jae, Kim Yong-nam and Kim Nam-kuk for Gyeonggi By-elections
    Democratic Party Picks Lee Kwang-jae, Kim Yong-nam and Kim Nam-kuk for Gyeonggi By-elections The Democratic Party said it has decided to make strategic nominations for upcoming by-elections in Gyeonggi province, naming Lee Kwang-jae, a former Gangwon governor, for Hanam Gap; Kim Yong-nam, a former lawmaker, for Pyeongtaek Eul; and Kim Nam-kuk, a former lawmaker, for Ansan Gap. Kang Jun-hyeon, the party’s chief spokesperson, told reporters after a meeting of the Strategic Nomination Management Committee at the National Assembly on the afternoon of the 27th that the committee approved the three nominations. Kang said Lee was chosen in part because he has put the party ahead of personal interests when it faced difficulties. He described Lee as a heavyweight candidate who has served three terms in the National Assembly and led a provincial government, and said he is suited to push forward national projects such as the GTX rail plan. Kang also highlighted Lee’s past election win in conservative-leaning Gangwon and said Lee has a strong grasp of issues affecting the Seoul metropolitan area. Explaining Kim Yong-nam’s nomination, Kang said the party aimed to field a “reasonable and reform-minded” conservative figure in Pyeongtaek Eul, an area with strong conservative tendencies. He said Kim contributed significantly to broadening support and winning the last presidential election, and that the party believes Kim can draw backing across political lines and remain competitive even in a difficult district. Kang said Kim Nam-kuk was nominated because he has, until recently, shared President Lee Jae-myung’s governing philosophy and previously served as a lawmaker representing the Ansan area. “Former lawmaker Kim Nam-kuk understands President Lee Jae-myung’s governing philosophy most deeply,” Kang said, adding that Kim’s understanding of local issues, built during his time representing Ansan, would help lead the party to victory. The party, however, ruled out nominating Kim Yong, a former deputy head of the Democratic Research Institute, who had consistently expressed interest in running in the Gyeonggi area. Secretary-General Cho Seung-rae said some inside and outside the party argued Kim deserved an opportunity, describing him as a victim of what he called a “prosecutorial fabricated indictment” and someone who contributed to the party and President Lee. But Cho said the party decided not to nominate him because it could affect the by-elections. Cho added that it would also be difficult to consider Kim for nomination in another district and said he explained the circumstances to Kim on the 27th. Cho also said the party would continue its recruitment process for Ha Jung-woo, the presidential office’s senior secretary for artificial intelligence, who is widely expected to run in Busan’s Buk-gu Gap district. Cho said he met Ha personally on the 6th, and that party leader Jung Cheong-rae also spoke with Ha on the 26th about a potential run. Cho said Ha had expressed his intention to resign, and that if it is approved soon, the party plans to proceed with steps to bring him in as a candidate.* This article has been translated by AI. 2026-04-27 18:38:24
  • LG Innotek, Samsung Electro-Mechanics defy seasonal slump on AI-driven demand
    LG Innotek, Samsung Electro-Mechanics defy seasonal slump on AI-driven demand LG Innotek and Samsung Electro-Mechanics are posting unusually strong results despite what is typically a seasonal lull for electronics parts makers, helped by an artificial intelligence-driven boost in demand. Steady smartphone camera-module sales and rising shipments of high-value semiconductor substrates used in AI data centers and servers are supporting growth. LG Innotek said in a regulatory filing on 27 that its first-quarter consolidated revenue rose 11.1% from a year earlier to 5.5348 trillion won, the highest ever for a first quarter. Operating profit jumped 136% to 295.3 billion won, beating market expectations. The first quarter is usually considered an off-season because the impact of new smartphone launches fades. This year, the company said demand stayed firm as popularity of the iPhone 17 series, released in September, carried into early 2026, lifting its core camera-module business. The optical solutions division, which accounts for about 80% of revenue, posted 4.6106 trillion won in sales, up 11.4% and a first-quarter record. Growth was not limited to cameras. The package solutions division, which handles semiconductor substrates, reported revenue of 437.1 billion won, up 16% from a year earlier. The company cited surging demand for high-performance substrates such as flip chip ball grid array, or FC-BGA, as global big tech companies expanded AI investment. It said higher-value communications substrates, including RF-SiP, performed strongly, and profitability improved as supplies of advanced substrates used in AI servers and accelerators increased. Samsung Electro-Mechanics, which is set to report earnings on 30, is also expected to benefit from AI-related demand. According to a securities-industry consensus, the company’s first-quarter revenue is estimated at 3.2027 trillion won and operating profit at 295.0 billion won, up 16.7% and 47.1%, respectively, from a year earlier. A key driver is multilayer ceramic capacitors, or MLCCs. The article said an AI server uses 10 to 15 times more MLCCs than a general-purpose server, and unit prices are several times higher, pushing MLCC production lines close to full utilization. FC-BGA, which Samsung Electro-Mechanics has identified as a future growth area, is also expected to contribute more meaningfully as the AI accelerator market expands, accelerating a shift toward higher-value products. Industry watchers said the company could be on track to return to the “1 trillion won club” in annual operating profit starting from this first quarter. An industry official said, “As the AI era takes hold, the seasonal swings in the electronic components industry are being offset,” adding that Korean parts makers, having secured mass-production capacity through early investment, are likely to maintain solid growth for the time being as key partners in the global AI supply chain.* This article has been translated by AI. 2026-04-27 18:37:30