Journalist

Lee Hugh
  • President Lee Jae-myung Vows Steady Push for Korean Peninsula Peaceful Coexistence Policy
    President Lee Jae-myung Vows Steady Push for Korean Peninsula Peaceful Coexistence Policy President Lee Jae-myung said Monday his government will "steadily push ahead" with its "peaceful coexistence policy on the Korean Peninsula." In a written congratulatory message read by Hong Ik-pyo, the presidential senior secretary for political affairs, at an event at the National Assembly Members' Office Building in Seoul marking the eighth anniversary of the April 27 Panmunjom Declaration, Lee said the government will "take the steps we can take first" to restore inter-Korean trust and advance peace. He added that he hopes North Korea will "trust the sincerity" of the government and respond. Lee said ending the war, establishing a permanent peace regime, and achieving coexistence and shared prosperity between the two Koreas are the declaration's core spirit and "the future we must pursue." He urged efforts to ensure uncertainty and anxiety in the international situation, driven by the war in the Middle East, do not spill over to the peninsula, and to build a path where all people on the peninsula can live without fear of war. He said the "people-sovereignty government" has made peaceful coexistence its top policy goal since taking office and has taken preemptive steps to rebuild trust. He said it has also made clear its principles of respecting the North's system, not pursuing unification by absorption, and refraining from any hostile acts. Hong said the government's peaceful coexistence policy presented in early February was based on those principles. "No matter how long the winter lasts, spring will come," Lee said, adding that if efforts toward peaceful coexistence and shared growth are built up "step by step," he firmly believes spring will return to the Korean Peninsula. * This article has been translated by AI. 2026-04-27 14:42:16
  • Industry Minister Kim Jeong-gwan Visits Kolmar Korea, Pledges Support for Reshoring and Regional Investment
    Industry Minister Kim Jeong-gwan Visits Kolmar Korea, Pledges Support for Reshoring and Regional Investment Industry Minister Kim Jeong-gwan visited Kolmar Korea, which has been named the first “reshoring” company of the year, and pledged expanded support as the government encourages firms operating overseas to bring production back to South Korea. Kolmar Korea said Kim visited its Sejong plant in Jeonui-myeon, Sejong City, on the 27th, delivered the official designation certificate in person and held a meeting with company officials. KOTRA President Kang Kyung-sung and Korea Industrial Complex Corp. Chairman Lee Sang-hoon joined the tour and reviewed the company’s cosmetics manufacturing capabilities. The Sejong plant is a key facility that serves as headquarters for Kolmar’s global production network. Built in 2014, it was the largest single plant in Asia at the time. It produces 890 million units of basic skincare products a year for about 4,500 customers in South Korea and abroad. Kolmar’s sunscreen products, which have helped drive the global K-beauty boom, are also made entirely at the site. At a reshoring roundtable held after the tour, Kolmar Group Vice Chairman Yoon Sang-hyeon and representatives from eight reshoring-designated companies, including Simtech, Nepes, Daehan Electric Wire and Sungwoo Hitech, discussed ways to boost domestic investment and improve government support programs. “Now, the competitiveness of companies and countries is determined by how stably they can secure supply chains,” Kim said. “The government will actively support companies so that returning home and investing in regional areas becomes the most reasonable and attractive choice.” Yoon said Kolmar plans to strengthen production capacity with Sejong City as its base to meet rising global demand as K-beauty’s profile grows. He said the company will work in step with government support for reshoring firms to enhance K-beauty manufacturing competitiveness and serve as a bridge for broader industry growth. Earlier, Kolmar said it consolidated its China production at its Wuxi plant and notified the industry ministry of its intention to expand its domestic production base. It was selected in January as the first reshoring company of the year.* This article has been translated by AI. 2026-04-27 14:40:02
  • Deputy PM Koo Yun-cheol Pledges Broad Support for Korea’s Bio, Beauty Industries
    Deputy PM Koo Yun-cheol Pledges Broad Support for Korea’s Bio, Beauty Industries Koo Yun-cheol, deputy prime minister and minister of finance and economy, said on 27일 that the government is focusing on the bio and beauty industries as key growth engines for the South Korean economy and will support them through measures including research and development funding and regulatory streamlining. Koo made the remarks during a visit to Inist ST, a manufacturer of raw materials for chemically synthesized pharmaceuticals, where he inspected operations and held a meeting with representatives of small and midsize companies in the bio and beauty sectors, including firms based in the central region. He urged companies not to settle for the status quo, saying they should expand the economy by developing world-leading products and services. Sustainable growth, he said, requires a “win-win ecosystem” in which large companies lead global markets while small businesses and startups provide support. He also called for closer cooperation to drive shared growth as industries undergo paradigm shifts, including the rise of artificial intelligence. Koo said the public-private consultative body for supporting corporate innovation serves as a platform for ongoing communication among the government, companies and business groups to back investment and innovation. He said the government has prepared measures to foster a startup boom under a plan dubbed “National Startup Era,” reflecting requests raised at the group’s first meeting, including steps to simplify startup procedures for professors and students. In a subsequent meeting on the bio and beauty industries, Koo again stressed the need for continued investment in R&D and ongoing upgrades to quality and safety, rather than relying on existing products and brands. He asked participants to speak candidly about problems they face in the field and possible solutions. Company representatives described their businesses and requested government support in areas they said were needed. Participants said innovation and growth require policies tailored to conditions on the ground, thanked the government for creating a forum for dialogue, and urged officials to reflect the day’s proposals in government measures. The government said it will closely review the views raised at the meeting, provide prompt feedback to those who submitted proposals, and actively incorporate them into future policy and institutional improvements.* This article has been translated by AI. 2026-04-27 14:34:02
  • Dongkuk Systems Named Nvidia Elite Partner in Compute Category
    Dongkuk Systems Named Nvidia Elite Partner in Compute Category Dongkuk Systems, the ICT affiliate of Dongkuk Steel Group, has been selected as a top-tier partner of Nvidia. The company said Monday it earned the Elite grade, the highest level, in the "Compute" category within the Nvidia Partner Network. Nvidia assigns partner grades based on technical capabilities and business performance. Dongkuk Systems said the Compute category is among the network’s most core competencies. Elite status is granted only to a small, vetted group of Nvidia partners worldwide. Dongkuk Systems joined the network in 2024 and was promoted to Elite from Preferred in about two years. The certification recognizes the company’s capabilities as an AI infrastructure specialist, including designing Nvidia’s latest graphics processing unit technology for enterprise use and building high-performance server infrastructure from large-scale data centers to manufacturing sites. The company said its ability to provide GPU-based accelerated computing platforms in on-premises and cloud environments was viewed favorably. With domestic demand for corporate AI transformation rising, Dongkuk Systems said it plans to expand support for AI infrastructure projects across major industries, including steel manufacturing as well as finance, manufacturing and the public sector. "This promotion is the result of Nvidia’s official recognition of our GPU technical capabilities and business performance," CEO Kim O-ryeon said. "We will strengthen our role as a partner that provides practical support for customers building AI infrastructure." * This article has been translated by AI. 2026-04-27 14:31:35
  • Daekyo to Provide Eye-Level Learning Program for Low-Income Single-Parent Families
    Daekyo to Provide Eye-Level Learning Program for Low-Income Single-Parent Families Daekyo said on 27 it will take part in an education support project led by the Lotte Scholarship Foundation, providing its Eye-Level Learning program to children from low-income single-parent families nationwide. The program will serve 223 children, from infants and toddlers through elementary, middle and high school students, and will run for nine months through December. The project aims to narrow education gaps for children whose learning opportunities are limited by financial and environmental constraints, while strengthening basic academic skills and supporting self-directed learning. Daekyo will offer Eye-Level Learning in core subjects including Korean, math, English, social studies and science, along with digital learning to improve results. It will also provide pre-program counseling and step-by-step, tailored learning plans to help build key competencies and independent study habits. To improve access, Daekyo will use its nationwide offline learning network, allowing families to choose between home-visit instruction and classes at nearby Eye-Level Learning Centers. The company said the approach is intended to support sustained participation and help reduce regional education disparities. A Daekyo official said it was meaningful to join an effort that helps children with limited educational opportunities grow in a stable environment, adding that the company will continue expanding support for underserved groups so more children can access learning opportunities.* This article has been translated by AI. 2026-04-27 14:31:05
  • Delivery App Fee Talks Stall as Second Meeting Collapses
    Delivery App Fee Talks Stall as Second Meeting Collapses A social dialogue body launched under the leadership of the Democratic Party’s Euljiro Committee to discuss overhauling delivery platform commission structures is faltering from the outset, with talks on shared-growth measures such as fee cuts repeatedly stalling. Industry officials said the second meeting of the delivery app coexistence consultative body, scheduled for the 27th, was called off after merchant groups that list on the platforms did not attend. The first meeting on April 10 ended with the two sides confirming their differences, and plans for follow-up discussions have now also broken down. The consultative body includes delivery platforms such as Baedal Minjok and Coupang Eats, along with major merchant groups including the Owners’ Association for a Fair Platform, the National Franchisee Council, the Korea Foodservice Industry Association, the Korea Franchise Industry Association and the Korea Federation of Micro Enterprises. Delivery platforms are currently applying a tiered commission system introduced in November 2024. They charge brokerage fees of 7.8% to the top 35% of merchants by sales, 6.8% to those in the 35% to 80% bracket, and 2.0% to the bottom 20%. At the first meeting, platforms were reported to have proposed expanding the 2.0% tier from the bottom 20% to the bottom 30%, while applying 7.8% to the remaining 70%. They also proposed creating a new category for deliveries within 1 kilometer, applying commissions in the 5% range and delivery fees in the high 2,000-won range. The Euljiro Committee argued that the revision could increase the fee burden for some merchants and called for an overall reduction in commissions, but platforms maintained that further cuts would be difficult. Merchant groups responded coolly, saying small business owners are already at their limit due to cost pressures from inflation linked to the war in the Middle East. They said the talks should include not only lower commission rates but also practical support such as help with packaging materials and food ingredients. Complicating matters are differing interests within the merchant groups themselves. With groups varying in size and business type, their demands differ, making it structurally difficult to reach a unified position. No follow-up schedule has been set since the second meeting collapsed. “Each group’s interests are so sharply divided that coordination does not look easy,” an industry official said, adding that the effort is “losing momentum to the point that they cannot even set the next meeting.” The official said the government should first prepare support measures for the most urgent micro and small business owners, then guide the process toward step-by-step alternatives for the merchant groups. 2026-04-27 14:25:01
  • LG Chem Wins Top 10 Technology Excellence Award at Chinaplas 2026
    LG Chem Wins Top 10 Technology Excellence Award at Chinaplas 2026 LG Chem said April 27 it won a “Top 10 Technology Excellence Award” at Chinaplas 2026, a global plastics and rubber exhibition, for its specialty polyvinyl chloride material HRTP, a heat-resistant and recyclable thermoplastic. LG Chem was the only South Korean company among participants to receive the award. The company said the recognition reflects its push to move beyond commodity products and focus on higher-value, higher-performance materials, with results now being validated on the global stage. HRTP was also named “Innovation of the Year” at Chinaplas last year, giving the material two consecutive years of recognition at the exhibition. Judges cited the ultra-high polymerization HRTP’s strong flexibility, flame resistance and abrasion resistance, and said it has a solid base for applications including electric-vehicle charging cables. Based on PVC, which is often viewed as a general-purpose material, HRTP is designed to deliver heat resistance, flexibility and durability demanded by next-generation industries such as EVs and robotics. LG Chem said it can be used in EV charging cables and heat-resistant wiring for vehicles and robots, offering about 30% better flexibility than existing materials and stable performance in high-voltage, high-temperature conditions. The company said HRTP is also seeing growing use as an alternative to expensive materials in markets such as synthetic leather and seats for automobiles, due to its soft feel and abrasion resistance. It said HRTP achieves high performance without a crosslinking process that chemically locks the structure, and remains recyclable, meeting requirements for functionality, safety and sustainability. At the exhibition, LG Chem also won an excellence award for UNIQABLE™, an eco-friendly packaging material. Judges pointed to its clear effect in reducing plastic use and cited leading results in environmental protection and commercialization, the company said. LG Chem said it will continue shifting its petrochemical business from commodity products to high-value materials and strengthen customer-value-based materials competitiveness in growth industries including EVs, robots, mobility, electrical and electronics, and industrial materials. * This article has been translated by AI. 2026-04-27 14:24:16
  • Korea Zincs Tennessee smelter gains a rare fast-track federal greenlight
    Korea Zinc's Tennessee smelter gains a rare fast-track federal greenlight SEOUL, April 27 (AJP) - Korea Zinc's $7.4 billion Tennessee smelter - largely funded by Washington - has been fast-tracked to expedite the first zinc refinery project in the United States since the 1970s. The company said Project Crucible, its planned non-ferrous metals complex in Clarksville, has been designated a covered project under FAST-41, a Washington program run by the Federal Permitting Improvement Steering Council (Permitting Council) that consolidates federal permitting reviews for major infrastructure and resource developments. "I am proud to welcome Project Crucible to FAST-41 coverage," said Emily Domenech, Permitting Council Executive Director on April 24. "As we continue to prioritize domestic mining, expanding domestic processing capacity is just as important for economic and national security." FAST-41 consolidates multi-agency reviews under a single schedule, typically shortening the path to a final decision by about 18 months. The designation follows a memorandum of understanding signed in February between the U.S. Department of the Interior and Tennessee to streamline permitting. Korea Zinc said the federal and state review tracks will now proceed in parallel. Only a handful of critical mineral projects have received such status, including South32’s Hermosa project in Arizona and Resolution Minerals’ Antimony Ridge in Alaska. Project Crucible stands out for its scale and scope. The planned complex in Clarksville will produce 13 non-ferrous metals — including 11 designated as critical by the U.S. — along with semiconductor-grade sulfuric acid. “This designation marks a key milestone in building a resilient critical minerals supply chain,” said Chairman Choi Yun-birm, adding the company will work closely with federal and state authorities. Korea Zinc recently acquired Nyrstar USA’s smelting assets to establish its local operating arm, Crucible Zinc. Construction is slated to begin in 2027, with operations targeted for 2029 and annual capacity of about 1.1 million tonnes. The project directly addresses a long-standing gap in U.S. metals processing capacity, which has eroded over decades amid refinery closures and a lack of new investment, leaving the country reliant on overseas — particularly Chinese — processing. Once completed, the roughly 7 million-square-foot facility will produce key inputs such as antimony, copper, gallium, germanium, indium, lead and zinc, alongside gold and high-purity sulfuric acid. The inclusion of gallium, germanium and indium positions the project at the core of semiconductor and advanced electronics supply chains, where processing remains heavily concentrated abroad. It also targets vulnerabilities exposed by recent disruptions in the Strait of Hormuz, a chokepoint for roughly half of global sulfur supply. By integrating sulfuric acid production domestically, the project aims to reduce exposure to geopolitical risks tied to Middle East-dependent supply chains. Shares of Korea Zinc on Monday edged up 0.43 percent to 1,649,000 ($1,121) won as of 2:20 p.m. Seoul. 2026-04-27 14:23:09
  • Iran floats phased ceasefire plan via mediators as Trump urges direct talks
    Iran floats phased ceasefire plan via mediators as Trump urges direct talks With U.S.-Iran talks on ending the war stalled, Iran has put forward both a phased framework and a separate compromise proposal through mediators in an effort to break the impasse. But sharp differences over the nuclear issue — and reported divisions inside Iran — have left the prospects for renewed negotiations uncertain. Lebanon-based pro-Hezbollah outlet Al Mayadeen reported that Iran delivered a three-step proposal to mediating countries on April 26 (local time), calling first for a guaranteed ceasefire, then maritime cooperation in the Strait of Hormuz, and only afterward talks on Iran’s nuclear program. The report said Iran indicated it could return to negotiations if the United States accepted the framework. The plan separates issues by stage. In the first phase, Iran would discuss only a halt to U.S. and Israeli military action and demands guarantees against renewed attacks on Iran and Lebanon. If that is agreed, the second phase would address management of the Strait of Hormuz, including plans to work with Oman on a new legal framework. The third phase would take up the nuclear program, but only after agreements in the earlier phases, the report said. Separately, Iran has also floated a compromise, Axios reported, citing a U.S. administration official and two sources familiar with the matter. Iran proposed, through mediators including Pakistan, opening the Strait of Hormuz and declaring an end to the war first, then continuing nuclear talks later, Axios said. The idea is to resolve Iran’s control of the strait and the U.S. maritime blockade up front, seek a long-term ceasefire or end-of-war agreement, and then move to nuclear negotiations. Axios said the approach could create negotiating space while sidestepping domestic pushback in Iran over putting the nuclear issue on the table. Iranian leaders are divided between hard-liners and moderates on how to proceed, and hard-liners are strongly opposed to making the nuclear program a negotiating agenda item, the report said. A source said Iranian Foreign Minister Abbas Araghchi told mediators there is no agreement within Iran’s leadership on how to handle U.S. demands related to uranium enrichment. It remains unclear whether Washington would accept Iran’s proposals. The maritime blockade is seen as a key tool to pressure Iran in any future nuclear talks, and lifting it early could reduce U.S. leverage. The United States is currently demanding at least a 10-year halt to uranium enrichment and the removal of existing enriched uranium from Iran, the report said. As pressure continues, President Donald Trump said he wants direct talks with Iran. In a phone interview with Fox News, Trump said he would not have U.S. negotiators travel for 18 hours and that he would handle it by phone. “So if they want, they can call us,” he said. Trump added that Iran knows what must be in an agreement and insisted it cannot have nuclear weapons. “Otherwise, there’s no reason to meet,” he said. Araghchi returned to Islamabad on April 27 and met with Pakistan’s army chief, Asim Munir, among others. Iran’s semi-official Tasnim news agency said the visit aimed to convey Iran’s demands for ending the war through mediator Pakistan. Araghchi was reported to have presented key issues including a new legal framework for the Strait of Hormuz, compensation for war damage, guarantees against renewed attacks, and lifting the maritime blockade on Iran. An Iranian official said the ongoing discussions focus on conditions to end the recent military conflict and are “not related at all” to the nuclear issue raised by some. Araghchi also arrived in Russia and plans to meet President Vladimir Putin as part of Iran’s diplomatic efforts related to the war. Trump, meanwhile, is expected to hold a Situation Room meeting at the White House on April 27 with national security and foreign policy advisers to discuss the stalled talks and next steps, U.S. administration officials told Axios. 2026-04-27 14:16:00
  • POSCO Steelion Hits Daily Limit After Stock Split, Australia Data Center Supply News
    POSCO Steelion Hits Daily Limit After Stock Split, Australia Data Center Supply News POSCO Steelion shares surged to the daily limit as buying picked up after its stock split and investors reacted to expectations tied to supplies for an Australian data center project. As of 2 p.m. on the 27th, POSCO Steelion was trading at 7,030 won, up 1,620 won, or 29.94%, from the previous session, according to the Korea Exchange. The stock rose to the exchange’s price limit during the session, setting a new 52-week high. The stock has extended gains for three straight sessions since trading resumed after the split, rising 6.04% on the 23rd and 6.29% on the 24th. At its regular shareholders meeting on March 26, the company approved a 10-for-1 stock split. The par value per share was reduced to 500 won from 5,000 won, and the number of common shares outstanding increased to 60 million from 6 million. A stock split does not change a company’s value, but a lower per-share price can sometimes draw additional demand. Investor sentiment also appeared to be supported by news on the 24th that POSCO Steelion’s hot-dip aluminum-coated steel sheet, branded “ALCOSTA,” was selected as a key material for an Australian hyperscale data center construction project being pursued by a global information technology company. Some market participants speculated the project involves Nvidia, but that has not been confirmed. The company said it does not disclose details such as the counterparty, volume or contract value, depending on consultations with customers. * This article has been translated by AI. 2026-04-27 14:15:17