Journalist
Lee Hugh
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Korea Zinc’s Tennessee Smelter Project Added to U.S. FAST-41 Permitting Fast Track Korea Zinc said its integrated smelter project in Tennessee, dubbed “Project Crucible,” has been added to the U.S. federal government’s FAST-41 permitting fast track for major infrastructure and resource developments. The company said Monday the project was designated for FAST-41, a program under Title 41 of the Fixing America’s Surface Transportation Act that coordinates federal reviews to shorten permitting timelines. FAST-41 is designed to streamline approvals for projects considered strategically important by consolidating oversight across agencies. The U.S. Department of the Interior signed a memorandum of understanding in February with the Tennessee state government and others to simplify permitting procedures, and Korea Zinc described the FAST-41 designation as a follow-up step. Under FAST-41, the federal government coordinates and manages permitting schedules to reduce timing and cost risks. The U.S. Permitting Council says FAST-41 projects, on average, receive a final record of decision 18 months faster than non-designated projects. Korea Zinc said the federal-state MOU would allow related procedures to move forward in parallel, accelerating progress. Korea Zinc said the designation is significant because Project Crucible has been viewed as part of the U.S. national security strategy. The company said the only other FAST-41 projects tied to critical minerals are South32’s Hermosa zinc and manganese development in Arizona and Resolution Minerals’ Antimony Ridge exploration and development project in Alaska. Korea Zinc said Project Crucible is the first FAST-41 project led by a South Korean company and expects it to strengthen U.S.-South Korea economic security cooperation over the medium to long term through a critical minerals supply chain. Chairman Choi Yun-beom said, “The FAST-41 designation for Project Crucible will be an important milestone in building a safe and resilient critical minerals supply chain,” adding that the company will continue close consultations with the U.S. federal government, Tennessee and other stakeholders to ensure the project’s success. He said the company will carry out the project’s roadmap “without disruption,” calling for groundbreaking in 2027 and completion in 2029, and said it aims to build a world-class critical minerals processing facility. Project Crucible calls for a total investment of $7.4 billion (about 11 trillion won) through 2029 to build an integrated smelter capable of processing about 1.1 million tons of feedstock annually. Once completed, the facility is expected to produce semiconductor-grade sulfuric acid and 13 nonferrous products, including 11 types of critical minerals such as zinc and lead, as well as rare metals including germanium and gallium. 2026-04-27 11:38:36 -
South Korea, Australia to Hold Foreign Ministers’ Talks on Energy Security, Defense Cooperation South Korean Foreign Minister Cho Hyun and Australian Foreign Minister Penny Wong will meet in Seoul on April 30 to discuss cooperation in areas including energy and defense, the Foreign Ministry said Monday. According to the ministry, the two will hold South Korea-Australia foreign ministers’ talks on Wednesday afternoon, covering high-level exchanges, economic security, defense and the arms industry, and regional developments. The meeting will come about a month after the ministers spoke by phone on March 16. The ministry said the two sides will reaffirm their commitment to work together on shared challenges, including the situation in the Middle East and the energy security crisis, and will broadly discuss ways to deepen cooperation in other areas such as defense and the arms industry. Wong also visited South Korea during the APEC summit in Gyeongju last October and met with Cho. * This article has been translated by AI. 2026-04-27 11:38:01 -
SCMP: South Koreans’ trips to China surge as visa rules ease and ties improve South Koreans are traveling to China in rapidly growing numbers, driven largely by looser visa rules and improving bilateral relations, a Hong Kong newspaper reported. The South China Morning Post reported on the 27th that the rise in visits by South Korean tourists and content creators has coincided with China’s eased visa policies and a steadier trend in South Korea-China ties. China has allowed South Koreans to stay visa-free for up to 30 days for tourism, business and family visits since 2024, the report said. The measure was extended in November last year, reducing what had been a major barrier for short trips. Geographic proximity and a calmer diplomatic climate have also supported more people-to-people exchanges. About 3.16 million South Koreans visited China last year, up 36.9% from the previous year. In January this year, more than 300,000 visited, a 48% increase from a year earlier. Destinations are also broadening beyond traditional choices, with Shanghai, Shenzhen in Guangdong province, Chengdu in Sichuan province and Zhangjiajie in Hunan province drawing attention, the report said. The increase has been especially notable among online content creators. They have highlighted China’s mobile payment systems, high-speed rail and relatively low prices, presenting scenes that differ from some existing perceptions. SCMP said creators have documented street food, advanced technology and large-scale infrastructure, while also comparing similarities and differences with South Korea. A YouTuber based in China was quoted as saying, “Since the visa waiver, visits to China by Korean creators have noticeably increased,” adding that China-related content is drawing strong interest on South Korean platforms. SCMP said the trend has also aligned with a period of more stable ties. It cited continued high-level exchanges, including President Lee Jae-myung’s visit to China in January, as helping create momentum for expanded economic and cultural cooperation. China has expanded visa-free entry policies since the COVID-19 pandemic to attract more foreign visitors. Seventy-nine countries are currently eligible for visa-free entry, including 50 granted the benefit unilaterally by China. According to China’s National Immigration Administration, 30.08 million people entered visa-free last year, accounting for 73.1% of all foreign arrivals. SCMP said the policy is not only boosting tourism but also producing a “soft power” effect by improving perceptions of China.* This article has been translated by AI. 2026-04-27 11:37:13 -
Jakarta’s Plaza Senayan Marks 30th Anniversary With Ceremony Plaza Senayan, a shopping mall in South Jakarta, has marked its 30th anniversary. SENAYAN TRIKARYA SEMPANA (STS), the mall operator and a unit of Kajima Development, Kajima Construction’s Southeast Asia development arm, held a ceremony on April 24. Plaza Senayan opened on April 26, 1996. The mall has one basement level and three floors above ground, with net leasable area of about 70,000 square meters. It has about 200 tenants and an occupancy rate of about 90%. It draws about 30,000 visitors on weekdays and about 40,000 to 50,000 on weekends. Japanese brands have been increasing in recent years. Kurasu, a coffee shop that started in Kyoto, opened on April 25. Kooma, which bills itself as a Japanese artisan bakery, opened its second Indonesia location in mid-April, and stretching studio Dr.stretch opened its first Indonesia location in December. Balcony by 6th, a restaurant from Azabudai Hills, is also scheduled to open in the mall within the year. A banquet hall is also planned for the fifth floor near the parking area, with an opening targeted for August. Capacity is 1,600 in theater style and 900 in dining style. Kajima Construction signed a 40-year build-operate-transfer contract in 1989 with the Indonesian government for the Senayan Square district, covering about 19 hectares. In addition to Plaza Senayan, STS has developed the five-star Fairmont Jakarta, four apartment towers and three office buildings. Under the agreement, Plaza Senayan will be operated for 40 years from its opening through 2036, after which ownership will be transferred to the Indonesian government at no cost. Ten years remain until that deadline.* This article has been translated by AI. 2026-04-27 11:36:41 -
Labor Ministry Official: Migrant Workers Must Not Face Discrimination or Safety Gaps Ryu Hyeon-cheol , head of the Occupational Safety and Health Headquarters at the Ministry of Employment and Labor, said on the 27th that migrant workers play key roles across shipbuilding, manufacturing, construction, and farming and livestock, but cases of human rights abuses and discrimination continue to recur. “No one should be discriminated against at work or face gaps in safety and health simply because of a different nationality,” Ryu said. Ryu made the remarks in Ulsan during a “Respect for Migrant Workers” campaign held with four labor rights foundations: the Public Mutual Growth Solidarity Fund, the Financial Industry Public Interest Foundation, the Office Finance Ubuntu Foundation, and the Jeon Tae-il Foundation. He said everyone should be recognized as a member of the workplace and be able to work safely and return home in good health. At the event, the ministry and the four foundations gave about 100 migrant workers at Ulsan-area workplaces safety helmets engraved with their names. It was the first campaign since the ministry and the foundations signed a memorandum of understanding on the 17th to improve migrant workers’ labor rights. Organizers said the effort is meant to encourage everyday practice of calling workers by their names instead of customary terms such as “hey” or “you,” and to stress the importance of wearing helmets to raise awareness of preventing industrial accidents. The ministry and the foundations plan to take the campaign nationwide, starting with Ulsan. Ryu called it meaningful to launch the campaign around Labor Day, which he said regained its name after 63 years, and said he hopes the practice spreads across industrial sites nationwide and helps build a society that respects labor.* This article has been translated by AI. 2026-04-27 11:36:00 -
Korea Financial Investment Association Launches Forum to Map Next Decade for Capital Markets The Korea Financial Investment Association has formed the K-Capital Markets Forum and begun talks on a mid- to long-term strategy to design the next decade for South Korea’s capital markets, looking beyond efforts to address the so-called Korea discount. The group said it aims to produce a roadmap that goes beyond policy suggestions and can lead to institutional reforms and legislation. The association held a launch ceremony for the forum on the 27th in Seoul’s Yeouido district and started full-scale discussions to draw up a 10-year blueprint. The forum’s stated goals are to craft a long-term growth strategy and derive a step-by-step implementation roadmap. Beginning in May, the forum will meet monthly to discuss key agendas including innovation-led growth and job creation; expanding access based on digital finance; retirement income security and long-term asset building; modernization of market infrastructure; stronger global competitiveness; and investor protection and market trust. The association said the framework targets both household wealth building and national economic growth. The forum has eight members: Hwang Seong-yeop, chairman of the Korea Financial Investment Association, who will serve as chair; Kim Se-wan, president of the Korea Capital Market Institute; Shin Je-yoon, chair of Samsung Electronics’ board of directors; Yoo Sang-ho, senior vice chairman of Korea Investment & Securities; Jeong Sang-gi, former vice chairman of Mirae Asset Global Investments; Jeong Sun-seop, a professor at Seoul National University School of Law; Choi Un-yeol, chairman of the Korean Institute of Certified Public Accountants; and Hong Seong-guk, former president of Daewoo Securities. The Korea Capital Market Institute will support the forum’s work. The association said a working-level consultative body, expert working groups and advisers — about 100 experts in total — will participate to reflect views from the field. The results will be compiled into a policy report after a year of intensive review and are to be submitted to the government and the National Assembly in the first half of 2027. Also attending the launch ceremony were forum members and representatives of the expert group, including Lee In-hyung, vice president of the Korea Capital Market Institute; Lee Hyo-seop, head of the financial industry office; Moon Seong-hoon, a professor at Hallym University; Seo Jeong-ho, managing attorney at The Wiz; Song Chang-young, managing attorney at Sehan; Oh Young-pyo, managing director at Shinyoung Securities; Yoon Seon-jung, a professor at Dongguk University; and Lee Jong-seop, a professor at Seoul National University. Hwang said, “In a rapidly changing economic environment, now that we have lifted the shadow of the Korea discount and shifted to a premium, this is the right time to prepare for a quantum jump.” He added, “Through the K-Capital Markets Forum, we plan to move forward step by step, with humility, toward the next 10 years for K-capital markets.” Kim said, “This forum will play an important role in raising trust in Korea’s capital markets and presenting a future strategy that benefits both investors and market participants.” * This article has been translated by AI. 2026-04-27 11:30:17 -
Cathay Pacific Issues HK$2.08 Billion in First Hong Kong Dollar Public Bond Sale Hong Kong's largest airline, Cathay Pacific, said on the 24th it will issue its first Hong Kong dollar-denominated public bond, raising HK$2.08 billion (about 42.3 billion yen). The three-year bond will carry a coupon rate of 3.78%. The company said it is the largest Hong Kong dollar public bond ever issued by a Hong Kong private-sector company, adding that demand was strong from a broad range of investors, including asset managers, banks and private banks. Cathay Pacific said the offering is a good opportunity to further diversify its funding sources. Proceeds will be used for working capital and general corporate purposes. Chief Financial Officer Rebecca Sharpe said it was "evidence of our continued commitment to our home in Hong Kong."* This article has been translated by AI. 2026-04-27 11:22:36 -
GS E&C Joins Korea National Arboretum, WWF for Hands-On Environmental Volunteer Event GS E&C said Sunday it held a hands-on environmental volunteer program with the Korea National Arboretum and the World Wide Fund for Nature at the arboretum in Pocheon, Gyeonggi province. About 80 people, including CEO Heo Yun-hong and employees and their families, took part. Participants attended a lecture by the arboretum’s director on forest ecosystems and the importance of protecting biodiversity. They also joined interactive programs including forest activities, creating a biotope and visiting the Forest Museum, the company said. The program followed the arboretum’s ESG initiative, aiming to help companies and employees’ families learn about and spread the value of ecological conservation. It was also designed to move beyond donation-centered efforts and put into practice a “donate-participate-spread” approach through direct employee involvement. GS E&C said it also delivered a donation to WWF Korea late last year. A GS E&C official said the event was organized to deepen understanding of biodiversity conservation and expand environmental ESG values within the organization. The official said the company will continue to carry out its social responsibility through ESG volunteer activities built around a “donate-participate-spread” cycle.* This article has been translated by AI. 2026-04-27 11:22:06 -
RSquare’s RA Real Estate Data Platform Expands Across Finance, Adds Decision Tools Commercial real estate data platform RSquare said its data solution, RA (RSquare Analytics), is spreading across the financial sector and moving beyond basic information to support investment decisions and risk management. RSquare said RA has added new customers including Hyundai Capital, a specialty finance company, as adoption broadens across finance. RA is now used by about 60 institutions, RSquare said, including major South Korean financial firms such as Samsung Securities, IGIS Asset Management, Koramco Asset Management and Hyundai Commercial, as well as global investors including GIC, DWS and PAG. RSquare said its cumulative customer base has surpassed 150 companies. RSquare said its annual revenue topped 200 billion won last year and cumulative transaction volume reached 17 trillion won. The company said it strengthened its data edge by collecting building information through on-the-ground surveys, covering 300,000 buildings in South Korea and 100,000 in Southeast Asia, including Vietnam, for a total of 400,000 properties. The company said it views the expansion as a signal of a shift toward a decision-making platform, noting that financial institutions are typically cautious about adopting new tools. RSquare said RA is being used in core workflows including investment review, asset management and risk management. RSquare said RA’s strength is field-verified data. Dedicated staff visit buildings to gather information such as rents, vacancies and tenant details, then cross-check it with public data and in-house research and update it continuously, the company said. The platform provides time-series data on key indicators including rents, vacancy rates, transaction prices, tenant mix, lease expirations and comparable deals. It also offers map-based location analysis, district comparisons and market-trend visualizations to support investment decisions. In March, RSquare added a corporate analysis function that combines financial, corporate registry and disclosure information for 2.5 million companies. RSquare said the feature allows users to review corporate distribution by area, industry composition, revenue growth, employment changes and headquarters relocation trends, enabling more detailed analysis of office demand and shifts in industry. RSquare said it is also expanding ESG data. RA plans to launch a green-building information service in the first half of the year that integrates building data for G-SEED and LEED certifications. RSquare said investors will be able to check global-standard sustainability data including projects by country, certification level and certification timing. “As green certification becomes a key benchmark for global capital’s investment decisions, we are expanding into infrastructure that supports sustainability decision-making,” the company said. RSquare said commercial real estate data platforms are evolving beyond price information to cover urban economies, capital flows and ESG standards, shifting from building-only analysis to data-driven investing that also considers the companies inside buildings and future value. Park Dae-gwang, head of RA planning, said corporate growth and relocation are key variables directly tied to office demand. “RA is evolving into a platform that combines corporate and real estate data, covering everything from market analysis to investment decision-making,” he said. RSquare said it also plans to roll out a retail sales-based trade-area analysis service and an AI-based automated valuation model, or AVM, in the second half of the year.* This article has been translated by AI. 2026-04-27 11:21:17 -
Duo Launches 1-Year Unlimited Matchmaking Plan Matchmaking company Duo has introduced a “time-based plan” that lets clients use its matching service without limits for a set period, adding a new option to its traditional meeting-count products. Duo, led by CEO Park Su-gyeong, said it began selling the plan on the 24th. Under the structure, clients start with three meetings, then can sign a separate agreement to use the matching service without a limit on the number of matches for one year. The plan applies mainly to major programs such as Noblesse, Proud and Oblige, while some specialized programs are excluded for operational efficiency. The move comes as the ways people use matchmaking services become more varied. Such services have typically been sold as packages offering a fixed number of meetings. Recently, however, demand has grown among clients who want to search more intensively within a set period, broadening the criteria for choosing services. Duo said the added option is intended to give clients who want to pursue meetings more actively over a short period a clearer choice, while allowing service use to vary by lifestyle and the pace of marriage preparation. The matchmaking services market has been growing, with industry observers saying demand continues among unmarried men and women who want to marry, even as trends toward remaining single or marrying later persist. As a result, competition increasingly centers on membership size, matching methods, counseling and management systems, and more flexible product structures. Duo posted record sales last year of about 48.3 billion won. The company said it sees a rising need to expand service options in line with market growth and more segmented customer demand. Duo said it expects the time-based plan to broaden the customer base seeking more active meetings and to provide an environment for exploring a range of potential partners within a set period. It cited reduced pressure from meeting limits and greater flexibility in using the matching service as key advantages. “As customers’ lifestyles and expectations become more diverse, services also need to shift to a more flexible structure,” a Duo official said. “Through the time-based plan, we will support people in continuing meetings in ways that fit their individual circumstances.” Duo, founded in 1995, operates its matching service based on its in-house DMS (Duo Matching System) and strict identity verification. The company provides tailored introductions through consultations with couple managers and analysis of member preferences and conditions.* This article has been translated by AI. 2026-04-27 11:19:25