Journalist
Lee Hugh
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SK Bioscience Sales Jump 143% on Strong Results From German Unit IDT SK Bioscience said strong results from its German subsidiary, acquired two years ago, helped more than double its annual revenue last year. In a regulatory filing on Monday, the company said 2025 revenue on a consolidated basis rose 143.5% from a year earlier to 651.4 billion won. Its operating loss narrowed to 123.5 billion won from 138.4 billion won in 2024. The improvement was driven largely by IDT, a Germany-based contract development and manufacturing organization acquired in 2024. IDT posted 465.7 billion won in 2025 revenue, up about 17% year over year, and recorded an operating profit of 9.9 billion won, marking a turnaround. The company attributed the gains to stronger partnerships with existing customers and higher productivity from process-efficiency efforts. SK Bioscience said growth in its core vaccine lineup also supported results. Influenza vaccine SkyCellflu maintained steady growth as export volumes to Central and South America and Southeast Asia increased, despite a price decline tied to a switch to a trivalent formulation. Chickenpox vaccine SkyVaricella increased its share of global exports on the back of stable supply through the Pan American Health Organization. Shingles vaccine SkyZoster raised its market share as more South Korean local governments expanded vaccination programs. Sales of Sanofi products distributed in South Korea also more than tripled from a year earlier, the company said. Beyfortus, an RSV preventive antibody injection launched last year, posted near sellout-level performance during the fall and winter RSV season. Hexaxim, the country’s first six-in-one vaccine covering diphtheria, tetanus, pertussis, polio, Hib and hepatitis B, and Tdap vaccine Adacel also supported higher sales on steady demand. SK Bioscience said it plans to sustain growth centered on its subsidiaries and its Songdo R&PD center. The company completed the relocation of its headquarters and research institute to Songdo, Incheon, last month and said it is accelerating efforts to secure key pipelines under an integrated system spanning R&D through commercialization preparation. A 21-valent pneumococcal protein conjugate vaccine being co-developed with Sanofi is in global Phase 3 trials in the United States, Europe and South Korea, the company said. Its L House production facility in Andong, North Gyeongsang Province, is being expanded while it pursues global approvals and prepares for commercial production. The company also highlighted RSM01, an RSV monoclonal antibody brought in from Gates MRI under the Gates Foundation, and an Ebola vaccine being developed with MSD. It said RSM01, backed by exclusive global supply rights, is expected to be a new growth driver targeting a related market valued at 6 trillion won. The Ebola vaccine is expected to move faster with support from the Coalition for Epidemic Preparedness Innovations. The company said it also expects clinical trials this year for a universal COVID-19 vaccine, a next-generation pneumococcal vaccine and an avian influenza vaccine. A company official said, “This year, we will further advance global CDMO growth centered on IDT, while accelerating development of core pipelines with the Songdo R&PD center as a hub to secure mid- to long-term growth engines.”* This article has been translated by AI. 2026-02-03 17:51:00 -
Celltrion, SK Chemicals, HLB Pharma and Myung In Pharma report Europe share, sales deal, revenue and governance moves Celltrion: Remsima autoimmune drugs held 68% share in Europe last year Celltrion said Monday that its treatments for autoimmune diseases and cancer continue to hold strong market share in Europe. Citing IQVIA, the company said its Remsima product family for autoimmune diseases (IV and SC) posted a combined market share of about 68% in Europe as of the third quarter of last year. Both the intravenous and subcutaneous formulations showed steady prescribing trends. Shares were 81% in France, 84% in the U.K. and 74% in Germany, among other European markets including the five major countries known as the EU5, the company said. Celltrion said its autoimmune drug Yuflyma recorded a 24% share in Europe over the same period, keeping the top spot in prescriptions. In oncology, it said Vegzelma, used to treat metastatic colorectal cancer and breast cancer, ranked No. 1 in prescriptions with a 26% share in Europe over the same period. SK Chemicals signs co-marketing deal with Kyungnam Pharm for allergic rhinitis drug SK Chemicals said Monday it signed a joint sales agreement with Kyungnam Pharm for Nozeal soft capsules, an over-the-counter treatment for allergic rhinitis. Under the deal, Kyungnam Pharm will handle sales and marketing to pharmacies for Nozeal, which SK Chemicals had been distributing through its pharmaceutical ordering platform. The product’s active ingredient is fexofenadine and is used to relieve allergic rhinitis symptoms caused by pollen and house dust, the company said. Kyungnam Pharm said it has an 11-branch nationwide sales organization and a broad pharmacy distribution network. Park Hyun Sun, head of SK Chemicals’ pharma business, said, “Building on the strengths of both companies, we will improve accessibility at pharmacies and expand our presence in the rhinitis treatment market.” HLB Pharma says annual revenue tops 200 billion won for first time HLB Pharma said Monday that, for the first time since its founding, its consolidated annual revenue exceeded 200 billion won. In a regulatory filing on a change of 30% or more in revenue or profit structure (15% for large companies), HLB Pharma reported consolidated revenue of 205.6 billion won last year, up 50% from a year earlier. On a separate basis, revenue rose 12.7% to 154.5 billion won. The company said the result doubles its 2022 revenue, when it first surpassed 100 billion won, in just three years. It added that it achieved double-digit growth even as contract manufacturing revenue was temporarily halted after it demolished its Hyangnam plant to build a new factory. HLB Pharma said the performance was driven by the consolidation of results from Shinhwa Advance, which it acquired in April last year. It also cited a turnaround in both revenue and profit at its consumer health care division within two years of its launch. Myung In Pharm approves 1,500 won cash dividend per share, pushes professional management structure Myung In Pharm said Monday it is pursuing a shift from founder-led management to a co-CEO structure led by professional managers. The company said it held a board meeting and disclosed that it decided to nominate Lee Kwan Soon, a vice chairman at Hanmi Pharmaceutical, and Cha Bong Kwon, president in charge of sales management at Myung In Pharm, as inside director candidates. The nominations will be submitted to the company’s 38th annual general meeting of shareholders on March 26, it said. Under the plan, founder and chairman Lee Haeng Myung will step down as CEO and focus on advising the board, while professional managers take charge of operations, the company said. The company said Lee Kwan Soon earned a bachelor’s degree in chemical education from Seoul National University and completed master’s and doctoral coursework in chemistry at KAIST. He has served as vice chairman, CEO and head of the research center at Hanmi Pharmaceutical, and later led the Korea Pharmaceutical and Bio-Pharma Manufacturers Association before becoming CEO of GID Partners. Cha Bong Kwon graduated from Kyonggi University with a degree in German language and literature and rose through the company as head of the sales management division before taking his current role, the company said. * This article has been translated by AI. 2026-02-03 17:42:00 -
Canada’s defense procurement minister visits Hanwha Aerospace plant, cites potential for deeper cooperation Canadian Minister of State for Defense Procurement Stephen Fuhr visited Hanwha Aerospace’s Changwon site, a day after touring facilities run by Hanwha Ocean and Hyundai Rotem to review major South Korean defense systems. Hanwha Aerospace said Fuhr, a delegation of Canadian company representatives and others — about 30 people — visited its Plants 2 and 3 in Changwon, South Gyeongsang province, on Feb. 3. The group toured production lines for the K9 self-propelled howitzer, the K10 ammunition resupply vehicle and the Chunmoo multiple rocket launcher system. They also watched mobility demonstrations of the K9, the Redback infantry fighting vehicle and the K21 armored vehicle, and rode in key equipment to experience performance firsthand. Hanwha said the visit was aimed at assessing South Korea’s defense capabilities ahead of Canada’s large-scale military modernization effort, the Indirect Fire Modernization (IFM) program. Canada plans to introduce about 250 infantry fighting vehicles into its army by 2030, six years earlier than scheduled. Hanwha Aerospace said it proposed an integrated “firepower-and-mobility solution” linking the K9, Chunmoo and Redback — systems it said are operated in more than 10 countries, including six NATO members. The company also proposed a partnership to help build a local defense industrial ecosystem in Canada, beyond simply supplying equipment. The company said the approach is intended to meet Canada’s priorities for local production and supply-chain security, while expanding cooperation in North America and NATO markets with Canada as a hub. “We will be the best partner for Canada’s military modernization, based on Hanwha’s decades of accumulated technology and our ability to meet delivery schedules,” Hanwha Aerospace CEO Son Jae-il said. Fuhr said Hanwha’s modern production facilities and high level of technology were “very impressive and surprising,” adding that the visit would be an important opportunity to make bilateral defense cooperation more concrete. Fuhr visited Hanwha Ocean the previous day, where he looked at a model of the Jang Yeong-sil ship and requested cooperation in the automotive sector. At Hyundai Rotem, he reviewed production processes for major defense systems including the K2 tank.* This article has been translated by AI. 2026-02-03 17:27:00 -
Constitution Day to be national holiday again SEOUL, February 3 (AJP) - Constitution Day on July 17 will become a national holiday again this year, Cheong Wa Dae said on Tuesday. The Cabinet meeting chaired by President Lee Jae Myung decided to restore Constitution Day as a national holiday to raise public awareness of the spirit of the Constitution. The day, which commemorates July 17, 1948, when the Constitution was promulgated, had been observed as one of major national holidays along with March 1 Independence Movement Day, Liberation Day, and National Foundation Day, until it was struck from the list in 2008. Likewise, Hanguel Day was also reinstated in 2012 after being eliminated in 1991. 2026-02-03 17:23:07 -
Genesis AI Healthcare VP Kang Si Cheol Named AI Technology Adviser to Seoul Medical Center Genesis AI Healthcare said Tuesday that its vice chairman, Kang Si Cheol, was appointed an artificial intelligence technology adviser to Seoul Medical Center on Monday. The company said the move is aimed at accelerating AI-driven medical innovation and helping the public hospital lead digital transformation. Kang, an AI medicine scholar and practitioner, has written books spanning theory and practice, including "AI Big History: 10 Wins Out of 22," "Artificial Intelligence Networks and Super Business," "Disruption," "An Era Comes When Even Aging Is Designed," "Hippocrates Meets Turing: The Age of AI Medicine" and "AI MBA." His recent titles, "Universal Concierge Medicine for a National Primary Doctor," "AI Translates the Human Body" and "AI Medical Management," have been described as essential reading on the present and future of AI medicine. During his two-year term, Kang is expected to provide strategic advice on digital innovation projects, including adopting Seoul Medical Center’s AI medical management solutions, building a medical AI platform, and advancing AI-based diagnosis and treatment systems. Seoul Medical Center said it plans to use the appointment to develop a model case for AI innovation in public health care and to explore ways to improve service quality and operational efficiency. Kang said, "I will do my best so that AI technology can create real value in the public health care field together with Seoul Medical Center," adding that he will "build a virtuous cycle that strengthens medical staff capabilities and improves citizens’ health."* This article has been translated by AI. 2026-02-03 17:12:00 -
KOSPI, Nikkei rebound from 'Warsh Shock,' hit fresh record highs SEOUL, Feb 03 (AJP) - Asian equity markets staged a decisive rebound Tuesday, shaking off jitters dubbed the “Warsh Shock,” as South Korea’s benchmark KOSPI surged nearly 7 percent to a fresh all-time high and fueling a regionwide rally. The sharp recovery followed gains on Wall Street after U.S. purchasing managers’ index data returned to expansion for the first time in a year, easing concerns about an economic slowdown. Market sentiment also improved as investors reassessed initial fears that Federal Reserve chair nominee Kevin Warsh would take an aggressively hawkish stance, increasingly viewing them as overblown. The Korean won strengthened alongside equities, with the dollar falling as much as 10.5 won to 1,443 won from the previous close. Meanwhile, a rapid rotation into risk assets pushed the yield on the 10-year Korean government bond up 5.8 basis points to 3.661 percent. The KOSPI soared 6.84 percent to close at 5,228.08, recouping the previous session’s losses and setting a new intraday and closing record. Hopes that Warsh could emerge as a “hawkish dove” rather than a hardliner helped reignite appetite for equities. Institutional investors led the rally with a net purchase of 2.17 trillion won ($1.5 billion), while foreign investors added 705 billion won. Retail investors, who had fueled buying the previous day, took profits, unloading 2.94 trillion won. Chip behemoths roared on. Samsung Electronics jumped 11.37 percent to a record 167,500 won, while SK hynix climbed 9.28 percent to 907,000 won, both marking fresh 52-week highs. Hyundai Motor, the third-largest company by market capitalization, rose 2.82 percent to 491,500 won. LG Energy Solution, which has struggled with sluggish earnings, gained 2.9 percent to close at 391,000 won. Naver, however, lagged the broader rally, edging up just 0.37 percent to 269,000 won as investors stayed on the sidelines ahead of its earnings release expected around Feb. 5. The tech-heavy KOSDAQ advanced 4.19 percent to 1,144.33, erasing the previous session’s sharp losses, though it fell short of a new record. Mirae Asset Venture Investment was the day’s standout performer, hitting the daily 30 percent upper limit to close at 22,100 won. The surge followed news that Elon Musk’s SpaceX had acquired xAI, benefiting Mirae Asset Venture, a major investor in SpaceX. In Japan, the Nikkei 225 snapped its losing streak, jumping 3.92 percent to close at 54,720.66, also a new all-time high. A rebound in U.S. technology stocks lifted Japanese semiconductor shares. Advantest rose 7.1 percent, Disco gained 7.4 percent, Tokyo Electron climbed 4.8 percent, and Ibiden surged 8.6 percent, capping a strong day for the chip sector. Toyota Motor advanced a more modest 1.67 percent to 3,594 yen, as much of its strength as the world’s top auto seller in 2025 was already priced in. Elsewhere in the region, Taiwan’s TAIEX rose 1.81 percent to 32,195.36. MediaTek surged 5.28 percent after reporting better-than-expected earnings, while TSMC gained 2.0 percent. Chinese markets also rebounded broadly, with the Shanghai Composite up 1.3 percent and the Shenzhen Composite climbing 2.2 percent. Hong Kong’s Hang Seng Index, however, lagged peers, inching up just 0.13 percent to close at 26,810, weighed down by dollar strength and turbulence in cryptocurrency markets. 2026-02-03 17:07:55 -
Presidential SNS politics: excess or essential? SEOUL, February 03 (AJP) - U.S. President Donald Trump is notorious for overnight social-media barrages — posting more than 160 times in a single day as recently as Dec. 1 — and for spending hours on Truth Social. South Korean President Lee Jae Myung is a relative newcomer to such digital excess, but he appears to be embracing the medium with equal enthusiasm. On Sunday, Lee posted a reflective yet firm message on X, formerly Twitter, calling for a national debate on a proposed “sugar levy” aimed at curbing excessive consumption of sweetened beverages. “The more difficult the issue, the more we must discuss it,” he wrote, citing a World Health Organization recommendation for steep global price hikes on sugary drinks and alcohol by 2035. Social-media politicking itself is hardly new in Seoul. Korean politicians have long used online platforms as unfiltered arenas for attack and mobilization. What is new is the scale and centrality of presidential participation. Over just two months, Lee’s use of X surged from a handful of posts in December to nearly four dozen by early February, spanning issues from real estate and fiscal reform to local government efficiency. Cheong Wa Dae stresses that these posts are not off-the-cuff remarks. “They emphasize policy consistency, leadership resolve and a call for responsible journalism,” a presidential aide said. To critics, however, the shift signals something broader: a deliberate attempt to set the national agenda through direct public address, bypassing cabinet deliberation, legislative review and media scrutiny. Lee’s recent posts on the sugar levy, housing policy and administrative restructuring have drawn both praise and backlash. His messages — often lengthy, impassioned and sharply worded — share a consistent theme: impatience with intermediaries, whether political or journalistic. Responding to criticism that the sugar levy amounted to a disguised tax hike, Lee argued that “a tax and a burden charge are fundamentally different,” warning against debate shaped by “distortion and framing.” Elsewhere, he rebuked outlets questioning the end of a real-estate tax exemption, accusing them of “defending ruinous speculation.” When the opposition People Power Party labeled his remarks “provocative populism,” Lee replied on X: “Enough with ruinous real-estate speculation and outdated red-baiting. It’s time to move on.” The tone is unmistakably combative, the pace relentless. On some mornings, Lee posts three separate messages — all drafted, aides say, by the president himself. To detractors, this amounts to governing by post: impulsive, emotional and dismissive of institutional checks. To supporters, it is communicative leadership — a president visibly accountable in real time. Lee’s assertiveness fits a broader global shift. Leaders worldwide have increasingly turned to social media as tools of direct, performative governance. Few exemplify this more starkly than Trump, who, according to The Washington Post, posted more than 2,200 times on Truth Social during the first four months of his second term — roughly 17 posts a day, triple his rate during his first presidency. While Trump’s outbursts often rattle allies and alarm opponents, the logic is similar: direct-to-public communication with minimal mediation and maximal emotional charge. Alex Tahk, a political scientist at the University of Wisconsin, describes this as a modern extension of presidents “going public” — appealing directly to voters to shape agendas and pressure institutions. “Social media makes that process faster and more personalized,” he said, “with far fewer journalistic gatekeepers.” But the power cuts both ways. “By making positions public and emotionally charged, leaders reduce room for compromise,” Tahk warned. “It can undermine negotiation more than it facilitates it.” That risk is acute in South Korea’s polarized political climate. Lee’s forthright tone mirrors a global move from closed-door policymaking toward performative governance, where visibility and conviction often rival coalition-building in importance. “Highly confrontational communication,” Tahk noted, “raises the political cost of bipartisan bargaining.” Media psychologists point to deeper cultural dynamics. Hang Lu of the University of Michigan says social media offers leaders speed, visibility and message control — while blurring the line between governance and performance. “Immediacy and emotional framing can oversimplify complex policy debates,” she said. Lee’s posts often compress intricate fiscal or housing policies into moralized soundbites, tapping what Lu calls the “participatory psychology” of social media — a space where citizens become active, emotionally engaged participants rather than passive audiences. In such an environment, even serious policy proposals can take on the pulse of campaign rhetoric. Tahk calls this “agenda politics through emotional framing.” “Leaders signal direction and energy,” he said, “but the cost is that complex issues become simplified into moral binaries—fair versus unjust, patriotic versus corrupt.” Agenda-setting through social media can privilege attention-grabbing topics over long-term governance,” Lu notes. “It blurs the line between informing the public and performing for them.” That blurring extends beyond content to tempo. Lee’s posting frequency — sometimes several times a day — reflects a presidency operating at the rhythm of the digital news cycle rather than the slower cadence of policy deliberation. Communication becomes continuous, but comprehension more fleeting. Each post triggers immediate responses: ministries scrambling to clarify, pundits to interpret, supporters and critics to mobilize. The presidency becomes a hub of perpetual mediation. Unlike Franklin Roosevelt’s carefully timed fireside chats or Ronald Reagan’s choreographed television addresses, today’s digital presidency operates in an algorithmic, fragmented and perpetual environment. There is no single national audience, only segmented feeds optimized for engagement. In Seoul, the effect is immediate. Presidential posts are instantly reframed by supporters and opponents alike, creating an always-on feedback loop that amplifies both authority and division. Lee’s embrace of this landscape is deliberate. Since his days as mayor of Seongnam and governor of Gyeonggi Province, he cultivated a reputation for online accessibility. As president, that instinct has evolved into a daily rhythm of agenda-setting posts, often paired with news articles he critiques or reframes. Cheong Wa Dae insists this is transparency, not theatrics. Critics see spectacle. The tension between the two may define Korea’s emerging media presidency — one where policy debate unfolds in public view, but where deliberation grows harder the louder the conversation becomes. 2026-02-03 17:07:47 -
BTS Comeback D-46: world tour map affirming global reach SEOUL, February 03 (AJP) - Nearly four years after stepping away as a full group for mandatory military service, BTS is returning with a touring footprint that underlines just how much ground it covered — and how much leverage it still holds — in the global live music economy. A yearlong world tour spanning 80-plus stadium shows in roughly 30 cities across five continents is taking shape, positioning BTS’s comeback as one of the largest live music undertakings in recent years. The opening statement will be characteristically symbolic: a kickoff performance in central Seoul’s Gwanghwamun area on March 31, set to stream live on Netflix — the platform’s first livestreamed concert originating from South Korea. The scale reinforces a long-standing narrative around BTS: that the group functions less as a touring act than as a global cultural asset. When CNN recently revisited “BTS in Numbers,” it highlighted how rare it is for artists to sustain tours of this magnitude. Historically, only a handful of legacy names — Elton John, Bruce Springsteen and the Rolling Stones — have pushed tours into triple-digit show counts over multiple years. BTS’s own benchmarks already place it in that company. Since debuting in 2013, the group has logged six No. 1 singles on the Billboard Hot 100, while its four-night stadium run in Los Angeles in 2021 generated $33.3 million from more than 200,000 tickets, then the highest-grossing Boxscore ever recorded by a non-English-language artist. At home, government estimates have pegged BTS’s economic contribution at $4.9 billion in 2019, cementing its status as a national soft-power asset. That demand was forged on the road. The “Love Yourself” World Tour (2018–2019) set an early global benchmark for non-English-language acts, grossing about $196.4 million across 42 shows and drawing an estimated 1.6 million fans worldwide, according to Billboard Boxscore. Sold-out stadium dates at venues such as London’s Wembley Stadium and Seoul’s Olympic Stadium signaled that BTS had crossed decisively into the top tier of global touring. The follow-up, “Permission to Dance On Stage” in 2022, was intentionally limited after pandemic disruptions but no less telling. A four-night run at Los Angeles’ SoFi Stadium attracted roughly 214,000 attendees, underscoring sustained demand even as the group prepared for enlistment. The upcoming 2026–2027 “Arirang” World Tour raises the bar again. Official schedules point to 82 shows across 34 cities in 23 countries, making it BTS’s most expansive itinerary to date. Early ticketing signals have been striking. In Mexico, local reports said as many as one million fans attempted to secure roughly 150,000 available seats, while rapid sellouts have been reported across parts of North America and Europe. Some industry reports have cited 41 major stadium dates selling out globally, with total ticket sales estimated at around 2.4 million, though final figures remain under review. HYBE said it is still in the process of aggregating ticket sales data and reviewing venue-level details, noting that assessments are ongoing to determine whether additional seats can be released at certain locations. The company added that it is still reviewing potential dates for stops in Japan and the Middle East, which have yet to be officially announced. Financial markets are watching closely. Analysts increasingly frame the tour not simply as entertainment, but as a large-scale global content business. Im Do-young of Daol Investment & Securities estimates that ticket revenue alone could reach 1.1 trillion to 1.2 trillion won, rising toward 1.5 trillion won when official merchandise sales are included, assuming the full schedule is completed. At that level, the tour would rank among the largest ever mounted by a single artist. At home, pricing will offer an early test of elasticity. BTS’s South Korea leg begins in April at Goyang Stadium, with tickets priced at 264,000 won for sound check, 220,000 won for General R, and 198,000 won for General S, according to Interpark. Positioned at the upper end of the stadium touring range, the shows will serve as a bellwether for how far premium pricing can stretch in a post-pandemic, post-inflation concert market. For the global live music industry, BTS’s return is more than a reunion tour. It is a stress test — of demand, pricing power and scale — unfolding in real time, with few modern precedents. 2026-02-03 17:06:59 -
Winter Olympics to kick off in Milan this week SEOUL, February 3 (AJP) - This year's Winter Olympics will kick off in Cortina d'Ampezzo and Milan later this week, bringing together around 3,500 athletes from over 90 countries to compete for 116 medals across 16 disciplines. The opening ceremony of the quadrennial sporting event is slated for Friday in Milan, marking a return to the European country for the first time in about two decades since the 2006 Turin Games. Italy has opted to use existing venues rather than build new ones, aiming to reduce both environmental impact and construction costs. However athletes may face some inconvenience as they will need to travel between multiple sites during the two-week-long Olympics, which run until Feb. 22. South Korea will field 71 athletes in snowboarding, bobsleigh, speed skating, short-track skating, and figure skating. 2026-02-03 17:01:34 -
Asiana Airlines posts 342.5 billion won operating loss in 2025, first annual loss in five years Asiana Airlines said in a regulatory filing on Monday that it posted standalone revenue of 6.1969 trillion won last year and an operating loss of 342.5 billion won. Revenue fell 12.2% from a year earlier, and the company swung to an operating loss. It was Asiana’s first annual loss in five years, since 2020, when it reported a 63.1 billion won loss amid the COVID-19 pandemic. Passenger revenue fell by 76.8 billion won to 4.5696 trillion won. Asiana said tighter U.S. entry restrictions weighed on its Americas routes, but it sought to improve profitability by strengthening China routes, where demand has risen under a visa-free policy, and Japan routes, which showed steady demand. Cargo revenue dropped by 761.1 billion won to 958.4 billion won, reflecting the sale of its cargo aircraft business unit effective Aug. 1 to meet conditions tied to a corporate combination. The airline said it focused on generating revenue by using belly cargo space on passenger aircraft. Asiana said it swung to an operating loss due to one-time costs tied to integration preparations — including higher mileage liabilities and investments in IT and aircraft — as well as costs related to the cargo aircraft business sale. It also cited higher labor costs linked to ordinary wage issues and increased operating and maintenance expenses amid a persistently weak won. For this year, Asiana said it expects a solid passenger market to continue, citing the prospect of international passenger traffic surpassing 100 million for the first time. It plans to bolster profitability by entering new European markets such as Milan and Budapest in the first half, improving schedule efficiency and adjusting unprofitable routes, expanding belly cargo demand for time-sensitive shipments such as semiconductor parts and bio-health products, increasing fixed-demand contracts with major global forwarders, and pursuing cost cuts through efficiency gains. 2026-02-03 17:00:00