Journalist

Lee Hugh
  • South Korea to Inspect 1,000 High-Risk Factories for Caught-in Machinery Hazards
    South Korea to Inspect 1,000 High-Risk Factories for Caught-in Machinery Hazards The government will launch intensive inspections of 1,000 ultra-high-risk manufacturing workplaces to curb a string of caught-in machinery accidents.  The Ministry of Employment and Labor said on 27일 it will inspect whether key safety rules are being followed at 1,000 manufacturing sites considered at high risk for caught-in accidents from May 11 to 15. The move follows a recent series of accidents during maintenance work involving industrial robots, compressors and conveyor belts. On the 8th of last month, a worker inspecting equipment at an auto parts plant was caught in an industrial robot. On the 9th, a worker at a waste company was caught in a compressor while removing foreign material. On the 10th, a worker at a food company was caught in a conveyor belt during maintenance. The inspections are being carried out under an order from Labor Minister Kim Young-hoon to “mobilize all efforts” to prevent caught-in accidents at manufacturing sites. The ministry said the 1,000 workplaces were selected based on factors including the presence of hazardous machinery and equipment and their history of industrial accidents. Kim also instructed the heads of 48 regional labor offices to conduct unannounced on-site inspections. Inspectors plan to focus on vulnerable time windows when accidents frequently occur — 9 a.m. to 11 a.m. and 1 p.m. to 3 p.m. — and to conduct checks without prior notice to raise awareness and improve effectiveness. Ahead of the inspections, the ministry will run a self-check period from 이날 through next month 8, urging workplaces to review and improve compliance using a “manufacturing safety rules self-inspection checklist.” Violations found during inspections will be met with immediate fines and corrective orders, and workplaces that fail to carry out corrective measures will face strict action, including possible criminal proceedings. “Cutting power when maintaining or cleaning hazardous machinery and equipment is a core safety rule for protecting lives from caught-in accidents,” Kim said. He urged labor and management to work together so compliance with caught-in accident prevention rules becomes routine.* This article has been translated by AI. 2026-04-27 09:04:24
  • Samsung Electronics Labor-Shareholder Dispute Escalates Toward Street Protests
    Samsung Electronics Labor-Shareholder Dispute Escalates Toward Street Protests Tensions surrounding Samsung Electronics are escalating in a way that is raising concern. A labor dispute that began with wage and bonus talks has moved to a threatened general strike, and the union has now said it will hold a rally outside the home of Executive Chairman Lee Jae-yong. Some shareholder groups have responded by filing for counterprotests. What was an internal effort to balance competing interests is increasingly spilling into street demonstrations and confrontation. According to reports, the Samsung Electronics union has warned it will begin an 18-day general strike starting on the 21st of next month. Its key demands include changes to the performance-bonus system, removal of a bonus cap and greater transparency in compensation. Workers have a legitimate right to press their claims, and pay and rewards should be settled through negotiation. But the approach matters. Targeting a private residence and seeking to pressure an executive personally crosses into different territory. A home is not a bargaining venue, and drawing a family’s living space into a labor fight can undermine the dispute’s legitimacy. Shareholder actions are also drawing scrutiny. Some shareholder groups have said they will stage protests across from union rallies and have also signaled counterdemonstrations near Lee’s home. Shareholders have rights as owners, but trying to overpower a union through street protests is not a constructive way to exercise those rights. Scenes of unions and shareholders facing off with loudspeakers are far from the norms of mature capital markets. The timing adds to the stakes. Samsung Electronics is facing major tests, including efforts to regain its lead in semiconductors, competition in AI memory and a reshaping of global supply chains. With U.S.-China technology rivalry intensifying, investment speed and research-and-development capacity are critical to corporate survival. If labor and shareholders become locked in an internal battle, the damage is likely to show up as weaker competitiveness. Any instability at Samsung can ripple beyond one company, affecting suppliers, local economies and the broader domestic stock market. Samsung is not free of responsibility. The dispute has reached this point in part because it failed to build a communication structure that employees trust. The company should examine whether bonus calculations were persuasive and whether management recognized employee frustration in time. It needs the capacity to treat the union as a negotiating partner while maintaining principled talks. For global companies, the ability to manage internal conflict through institutions is part of competitiveness. The union, too, faces choices. Escalation does not automatically produce better negotiations, and damage to corporate value can weaken the foundation for jobs and compensation. Shareholders should also avoid emotional responses focused only on short-term share prices. When labor, capital and management treat one another as enemies, all sides lose. With the dispute now extending to a planned rally outside Lee’s home, the conflict has moved beyond acceptable bounds. What is needed is not louder sound systems but a return to the negotiating table. Samsung should restore an orderly process for dialogue so that a dispute at a flagship Korean company does not end in street confrontation. 2026-04-27 09:01:06
  • Iran Offers Three-Stage Negotiation Plan, Says Talks Could Resume if U.S. Accepts
    Iran Offers Three-Stage Negotiation Plan, Says Talks Could Resume if U.S. Accepts Iran has presented mediators with a three-stage framework for negotiations and has indicated it could return to talks if the United States accepts the structure, according to a report. Lebanon-based pro-Hezbollah outlet Al Mayadeen reported on April 26 (local time) that Iran conveyed a phased proposal that begins with guarantees of a cease-fire, moves to maritime cooperation in the Strait of Hormuz, and then addresses Iran’s nuclear program. The report said Iran has signaled it would rejoin negotiations if Washington accepts the framework. The proposal divides issues by stage. In the first stage, Iran would seek a halt to U.S. and Israeli military actions and guarantees against renewed attacks on Iran and Lebanon, and it would not discuss other topics at that stage. If an agreement is reached in the first stage, talks would move to a second stage focused on management of the Strait of Hormuz. Iran is said to be considering a new legal regime to govern the strait in cooperation with Oman. In the third stage, Iran’s nuclear program would be placed on the agenda, but only if agreements are reached in the first two stages. Separately, Iranian Foreign Minister Abbas Araghchi returned to Islamabad on the same day and met with Pakistan’s army chief, Asim Munir, among others. Iran’s semi-official Tasnim news agency said the visit was intended to deliver Iran’s demands for ending the war through mediator Pakistan. Araghchi was reported to have presented Pakistan with key issues including a new legal regime for the Strait of Hormuz, compensation for war damage, guarantees against renewed aggression, and lifting a maritime blockade on Iran.* This article has been translated by AI. 2026-04-27 09:00:09
  • Audi Korea Reopens Renovated Gangbuk Showroom in Seoul
    Audi Korea Reopens Renovated Gangbuk Showroom in Seoul Audi Korea said Sunday that its official dealer, Gojin Motors, has reopened the Audi Gangbuk showroom after renovations. The showroom in Mia-dong, Gangbuk-gu, Seoul, is a revamped version of the former Mia showroom. It offers 1,472 square meters (15,844 square feet) of display and consultation space, with customer flow designed to make it easier for visitors to experience Audi vehicles. The site is about a three-minute walk from Exit 1 of Mia Sageori Station on Seoul Subway Line 4. It sits along Dobong-ro, a major arterial road in northern Seoul, providing access from areas including Uijeongbu and Jongno. The Gangbuk showroom also includes a dedicated area for the recently launched The New Audi A6, the company’s flagship premium sedan. Through May 31, visitors who register via QR code after visiting the showroom will receive Audi lifestyle goods, and those who request a price quote will be offered additional benefits on a first-come, first-served basis.* This article has been translated by AI. 2026-04-27 08:57:14
  • iM Securities Raises Hyundai Steel Target to 50,000 Won on Expected Q2 Rebound
    iM Securities Raises Hyundai Steel Target to 50,000 Won on Expected Q2 Rebound iM Securities said Hyundai Steel's first-quarter results missed market expectations, but forecast a rebound in the second quarter with solid momentum likely to extend into the third quarter. The brokerage raised its target price to 50,000 won from 46,000 won and maintained its "buy" rating. Kim Yun-sang, an analyst at iM Securities, said first-quarter consolidated operating profit came to 15.7 billion won, down 63.7% from the previous quarter and below the market consensus of 44.3 billion won. Kim said the company’s headquarters operations swung to an operating loss of 72.5 billion won, citing lower prices for automotive steel sheet, higher raw material costs and rising scrap prices. Those factors narrowed roll margins in both the blast furnace and long steel businesses, he said. He added that subsidiaries performed steadily, supporting expectations for improved results in the second quarter. Kim said subsidiaries benefited from recognition of unrealized gains at overseas coil centers, improved business conditions and tariff refunds at Hyundai Steel Pipe, and the impact of stronger nickel prices at BNG Steel. He forecast second-quarter consolidated operating profit of 127.0 billion won, up 706.3% from the previous quarter. Kim attributed the improvement to higher hot-rolled steel prices and rising rebar distribution prices, which he said should widen roll margins in the blast furnace and long steel units and return headquarters operations to a profit of 80.0 billion won. Kim said macro factors such as energy costs and interest rates remain unfavorable for steel prices, but global steel prices have recently been firm. He said gains in rebar and hot-rolled prices are continuing, and an increase in automotive steel sheet prices is expected during the third quarter. He projected that these price increases would support solid performance at least through the third quarter. However, he said the recent price rise appears driven by supply factors and may not apply evenly across all products given differing demand conditions by end-use industry. * This article has been translated by AI. 2026-04-27 08:53:35
  • Shinhan raises Hyosung TNC target price 42% on spandex market recovery
    Shinhan raises Hyosung TNC target price 42% on spandex market recovery Shinhan Investment Corp. on Sunday raised its target price for Hyosung TNC from 600,000 won to 850,000 won, a 42% increase, citing expectations for improving industry conditions. It kept its “buy” rating. Analyst Lee Jin-myeong said the higher target reflects an upward revision to 2026 earnings estimates, up 46%, as the upcycle gains momentum. He said the stock has surged 147% since the start of the year but remains undervalued compared with Huafon, the world’s No. 2 spandex maker. Shinhan said the spandex market has entered a clear upswing. As of April, China’s spandex operating rate rose to 86% from 80% at the end of last year, while inventory days fell to 22 from 39. Prices climbed to 29,000 yuan per ton from 23,000 yuan, which Shinhan said confirms improving supply-demand conditions. Hyosung TNC, the world’s top spandex producer, is expected to see the strongest profit leverage as conditions improve, supported by pricing power and cost competitiveness, Shinhan said. It estimated 2026 operating profit at 596.3 billion won, up 137% from a year earlier. First-quarter results also beat market expectations. Operating profit came to 86.2 billion won, up 93% from the previous quarter and above the consensus estimate of 80.7 billion won. The spandex/PTMG segment posted 77.3 billion won in operating profit, up 60%, leading the gain. Sales volume rose 2% despite the Lunar New Year holiday, helped by steady demand and inventory building, while profitability improved as spandex prices rose more than raw material costs. Shinhan said the improvement is likely to continue in the second quarter, forecasting operating profit of 138.7 billion won, up 61%, with room for another upside surprise. It cited entry into the peak season, expanding inventory demand and a widening increase in spandex prices. * This article has been translated by AI. 2026-04-27 08:52:52
  • Trump Describes Shooting Near White House Correspondents’ Dinner, Says He Wasn’t Worried
    Trump Describes Shooting Near White House Correspondents’ Dinner, Says He Wasn’t Worried President Donald Trump described what he said happened during a shooting in a security zone near the White House Correspondents’ Association dinner, saying he was not worried even as Secret Service agents moved him and first lady Melania Trump to safety. He said the event should be held again and should not be derailed by “one crazy person.” In an interview with CBS on Saturday, Trump discussed the shooting linked to the dinner held the previous night at the Washington Hilton hotel. “I wasn’t worried,” he said, adding, “We live in a crazy world.” More than 2,500 people attended, including Trump, the first lady, Vice President JD Vance, Cabinet members and journalists. After gunfire was heard, Trump was surrounded by Secret Service agents and evacuated. Trump said the evacuation was delayed in part because he wanted to understand what was happening. “I wanted to see what was going on,” he said, adding that he told agents to wait and assess the situation. “I didn’t make it easy for the security guys to move,” he said. He said agents ordered him to get on the floor. “I was almost walking out standing up,” Trump said. “But the security guys said, ‘Get down on the floor,’ so the first lady and I got down on the floor.” He said that instruction signaled the situation was serious. “I’m the president, and I did what they told me,” he said. Trump said the first lady “was very strong,” but looked shaken in video he later reviewed. “Why wouldn’t she be?” he said. Trump said he had been through similar incidents before, but she had not to the same extent. He said she understood what was happening and followed instructions. Trump said he did not know whether the suspect had targeted him. He referred to what he described as a statement-like writing the suspect reportedly sent to family, saying it suggested the suspect had fallen into extremist thinking. In an interview with Fox News, Trump called the suspect “a very troubled person.” He rejected claims of a security failure. Trump said the suspect broke through the security zone at high speed, but said agents responded professionally and subdued the person immediately. “You can find flaws in any security situation,” he said, adding that agents “did a good job” that night. Asked whether the shooting could change his relationship with the media, Trump kept his distance. He said that after the incident, a White House briefing “looked like the room was completely united,” calling it “beautiful in a way.” But he said, “We disagree on many topics.” Trump repeated his criticism of the press, saying the media and Democrats are “almost one and the same.” He added that there are “great people” in the media, including fair reporters and others who are friendly to him. Trump again said the correspondents’ dinner should be held again. “One crazy person shouldn’t be allowed to cancel an event like this,” he said, adding that it should be held again within 30 days. He said it would be fine with more security and a wider perimeter.* This article has been translated by AI. 2026-04-27 08:52:06
  • NH Investment Raises Hyosung Heavy Industries Target on North America Growth
    NH Investment Raises Hyosung Heavy Industries Target on North America Growth NH Investment & Securities kept its “buy” rating on Hyosung Heavy Industries and raised its target price 25% to 4.5 million won from 3.6 million won, citing expanding North America orders, a medium- to long-term supply shortage and clearer earnings visibility from capacity expansion. Analyst Lee Min-jae said Hyosung Heavy Industries posted 4.2 trillion won in new orders in its heavy industries division in the first quarter, showing it has entered a business environment comparable to global peers. He added that a 2028 price-to-earnings ratio of about 26 times remains attractive given expected EPS growth. NH said the higher target reflects the value of the Changwon HVDC business and a third plant in Memphis scheduled to begin operations in 2028, as well as a higher EV/EBITDA multiple of 25 times, up from 24 times, following gains in global peers’ share prices. First-quarter results fell short of expectations due to temporary factors. On a consolidated basis, revenue rose 26% from a year earlier to 1.4 trillion won, and operating profit increased 48% to 152.3 billion won, but both missed the consensus forecast. NH attributed the shortfall to about 40 billion won in deferred profit after late-quarter shipments to North America were recorded as in-transit inventory. The shipments are expected to be reflected in second-quarter results. Order momentum remained solid. New orders in the heavy industries division totaled 4.2 trillion won in the first quarter, and the order backlog expanded to 15.1 trillion won. North America accounted for 77% of new orders and 53% of the backlog, rising quickly as the company benefits from increased investment in power infrastructure, NH said. Lee said delivery dates for projects in North America and Norway have been confirmed for 2031 and 2032, respectively, indicating a prolonged supply shortage. He said Hyosung Heavy Industries has also demonstrated it can command a high valuation within the global power infrastructure sector. * This article has been translated by AI. 2026-04-27 08:48:49
  • NH NongHyup Bank Launches No-Branch Loans for Successor Farmer Development Funds
    NH NongHyup Bank Launches No-Branch Loans for Successor Farmer Development Funds NH NongHyup Bank said Sunday it has been fully rolling out a no-branch loan service for its Successor Farmer Development Fund since April 24, allowing customers to complete the process without visiting a branch. The fund is a government policy loan designed to foster future agricultural workers and help farmers settle stably. Loans are offered at an annual interest rate of 1.5% for up to 25 years, the bank said. Under the new service, applicants can use the bank’s All One Bank mobile app to handle the entire process from application to disbursement. Document submission and contract signing are also completed electronically. The bank said the move is aimed at improving access to financial services for farmers during the busy farming season. It said it was the first in the financial industry to introduce a non-face-to-face online registration system for farmland collateral and to apply a feature that exempts purchases of National Housing Bonds when taking out farming-related loans. The bank expects up to 20,000 farmers a year to benefit. “The Successor Farmer Development Fund is a key policy loan that supports young farmers’ settlement and growth,” NH NongHyup Bank CEO Kang Tae-young said. “We will expand non-face-to-face lending to improve convenience for farmers.” 2026-04-27 08:48:19
  • Nexen Tire to Supply OE Tires for 2026 Jeep Cherokee in North America
    Nexen Tire to Supply OE Tires for 2026 Jeep Cherokee in North America Nexen Tire said Sunday it will supply original equipment tires for the North American launch of the 2026 Jeep Cherokee SUV, a Stellantis brand. The 2026 Cherokee is the brand’s first vehicle to feature a full hybrid system and can travel more than 500 miles (about 800 kilometers) on a single tank of fuel, the company said. The model will be fitted with Nexen’s Roadian GTX, which the company said is designed to balance braking, snow traction and wear performance with low noise and ride comfort. Nexen said the tire maintains stable braking in both summer heat and winter cold, and uses an optimized zigzag tread pattern to spread road pressure and reduce sudden pull for steadier driving. Nexen said the Roadian GTX has also been selected as an OE tire for vehicles including Kia’s EV5 and EV6 and Renault’s Filante, citing those fitments as evidence of its quality and performance for electric and hybrid models. The company said it has expanded cooperation with Stellantis, including Jeep, based on ongoing research and development and quality competitiveness. A Nexen Tire official said supplying OE tires for Jeep’s first hybrid SUV in North America “once again proves our competitiveness in the future mobility market.”* This article has been translated by AI. 2026-04-27 08:47:05