Journalist

Lee Hugh
  • Strike could deal heavy blow to Samsung, academic warns
    Strike could deal heavy blow to Samsung, academic warns SEOUL, April 26 (AJP) - A looming large-scale strike by unionized Samsung Electronics workers, amid an ongoing compensation dispute, could lead to significant economic losses, disrupting global supply chains if it goes ahead next month, according to an academic analysis. The chip giant's labor union has threatened to stage a three-week strike from May 21 to June 7 if negotiations fail. Speaking at a forum in southern Seoul last week hosted by think tank Ahnmin Institute for Public Policy, Song Heon-jae, a professor at the University of Seoul, warned that a possible walkout at Samsung Electronics' semiconductor operations could "disrupt production on a massive scale." Song estimated that even a brief halt in chip production could result in losses of billions per minute, rising to roughly 1 trillion won (about US$676 million) per day. He also warned that if the strike becomes prolonged, operating profit in the semiconductor division alone could fall by as much as 10 trillion won. "Not to mention immediate financial losses, the even bigger risk would be long-term damage to business relationships," Song also pointed out, adding that global tech giants such as Nvidia and AMD could turn to alternative suppliers like TSMC to ensure supply stability. "Once customers shift their supply chains, it could take years and significant costs to win them back," Song said, cautioning that the strike could undermine trust, weaken competitiveness in the fast-growing artificial intelligence-driven semiconductor market, and lead to a loss of momentum. The potential fallout could also spread across South Korea's broader industrial ecosystem, as Samsung Electronics has some 1,760 subcontractors and equipment suppliers, and any production halt could affect their operations. Many experts say resolving the dispute will require greater transparency in how performance bonuses are calculated, along with clearer guidelines for compensation, warning that prolonged internal conflict could deal a heavy blow to Samsung Electronics at a critical moment when global competition in advanced semiconductors intensifies. The warning comes as tensions rise between Samsung Electronics and its labor union over bonus structures. The union has threatened a large-scale strike, demanding that 15 percent of operating profit be distributed as performance bonuses. With Samsung's annual operating profit projected to reach as much as 300 trillion won, payouts could climb to around 45 trillion won or hundreds of millions of won per chip division employee if the demand is met. The dispute follows a recent agreement at rival SK hynix, which shifted to allocating 10 percent of operating profit to employees after removing a cap on bonuses. The move has raised expectations among workers across the semiconductor industry. 2026-04-26 14:44:34
  • KB: Seoul Apartment Price Gains Slow; Gangnam Falls for Second Month
    KB: Seoul Apartment Price Gains Slow; Gangnam Falls for Second Month Seoul apartment prices rose at a slower pace this month, while Gangnam-gu posted a second straight monthly decline, according to a KB Kookmin Bank survey. KB Real Estate said in its April nationwide housing price report released Saturday that, as of a survey conducted April 13, Seoul apartment sale prices rose 1.00% this month, easing from a 1.43% gain in March. Outer districts led the increase. Dongdaemun-gu recorded the biggest rise at 1.99%, followed by Gangseo-gu at 1.88%, Gangbuk-gu at 1.75% and Seongbuk-gu at 1.69%. Gangnam-gu, however, fell 0.29%, extending its drop from -0.16% in March and marking its second consecutive monthly decline. The "KB Leading Apartment 50" index slipped to 99.3 this month from 99.8 in March, staying below the baseline for a second month. KB calculates the index by tracking changes in the market capitalization of the top 50 apartment complexes, based on the number of households multiplied by price. KB Real Estate said the shift reflected transactions centered on bargain listings in areas with large clusters of high-priced complexes as the May 9 end date nears for a temporary suspension of heavier capital gains taxes on multi-homeowners. A polarization gauge known as the "quintile ratio" fell for a second month, to 6.7 this month from 6.8 in March and 6.9 in February. The ratio compares the average price of the top 20% of homes with the bottom 20%; a higher figure indicates wider disparity. Outside Seoul, apartment prices in the greater Seoul area rose 0.43% in Gyeonggi province and 0.04% in Incheon. In Gyeonggi, Yongin’s Suji district jumped 2.08%, the highest increase, followed by Seongnam’s Jungwon district at 1.89%, Gwangmyeong at 1.87%, Guri at 1.70%, Anyang’s Dongan district at 1.56%, Hanam at 1.53% and Seongnam’s Sujeong district at 1.23%. Across the capital region, apartment prices rose 0.55%. The five major metropolitan cities — Gwangju, Daejeon, Daegu, Ulsan and Busan — rose 0.04%, while other regions gained 0.14%. Nationwide, apartment prices increased 0.32%. Jeonse deposit prices for apartments rose 0.44% nationwide, including 0.65% in the capital region, 0.31% in the five major cities and 0.17% in other regions. In the capital region, jeonse prices rose 0.86% in Seoul, 0.60% in Gyeonggi and 0.37% in Incheon. In Seoul, Gangbuk-gu’s jeonse prices surged 3.86%, setting a record-high increase, KB said. Seongbuk-gu rose 1.86%, Seongdong-gu 1.32%, Gwanak-gu 1.31%, Dobong-gu 1.15%, Gangseo-gu 1.12% and Dongdaemun-gu 1.00%. Seoul’s median apartment jeonse deposit reached 600 million won this month, topping 600 million won for the first time in 3 years and 7 months since September 2022, when it stood at 600.658 million won. Including apartments as well as detached homes and multi-family and row houses, nationwide home sale prices rose 0.22% this month and jeonse prices increased 0.31%. This month’s nationwide outlook indexes rose from the previous month, with the home sale price outlook index at 102.0, up 2.1 points, and the jeonse price outlook index at 117.5, up 1.6 points. In Seoul, the sale price outlook index climbed 11.2 points to 112.0 and the jeonse outlook index rose 7.0 points to 132.4. Both remained above the 100 baseline, indicating more respondents expect prices to rise.* This article has been translated by AI. 2026-04-26 14:33:16
  • Anthropic’s Claude Mythos preview accessed without authorization on launch day
    Anthropic’s Claude Mythos preview accessed without authorization on launch day Anthropic’s newest AI cybersecurity model, released under tight controls, was accessed without authorization the same day it was made available to a select group, according to the IT industry. Industry officials said April 26 that Anthropic has opened an investigation after detecting unauthorized access to a preview of its latest model, “Claude Mythos,” through a third-party vendor environment. The access is believed to have occurred on the 7th, when Anthropic announced “Project Glasswing” and began providing the Mythos preview to selected companies. Mythos is described as capable of finding software vulnerabilities on its own and autonomously generating attack code based on them. Anthropic has said the model can detect and exploit vulnerabilities “to a degree that could surpass top-tier human hackers.” Citing dual-use risks — it could be used for attacks as well as defense — the company chose an invitation-only, limited research release rather than a broad public launch. The suspected route was a classic insider-risk scenario. A partner-company employee used their authorized access to enter the Mythos environment and, using information about Anthropic’s file system exposed in a hack of the AI evaluation startup Mercer, inferred where the model was hosted online. The employee then shared access with a small Discord group. The group reportedly avoided cybersecurity-related prompts to evade detection, using the model only for simple tasks such as building websites. The group also claimed it accessed other unreleased models, but that claim has not been confirmed. Anthropic said there is “no evidence the intrusion spread beyond the vendor environment,” and no damage to Anthropic systems has been confirmed. Still, security experts said the incident highlights broader structural weaknesses. Gabriel Hempel, a security operations strategist at security firm Exabeam, said the preview was intentionally limited because of dual-use risks, yet it “leaked almost immediately through a partner environment.” Some analysts said Project Glasswing’s design carries an inherent contradiction. Anthropic limited the Mythos preview to companies including Amazon, Apple, Google, Microsoft, Nvidia, Cisco, CrowdStrike and JPMorgan Chase. U.S. Treasury Secretary Scott Bessent recently convened the heads of major investment banks — including Goldman Sachs, Citigroup, Bank of America and Morgan Stanley — to discuss ways to use Mythos, the report said. The strategy was framed as a nationally designed “controlled release,” but as more institutions participate, the number of people with access inevitably grows, exposing the weakest link. The incident also underscored limits of even advanced code-focused defenses: a model may detect vulnerabilities in software, but it cannot by itself prevent weaknesses in unvetted third-party tools or social-engineering attacks. The use of Mercer breach information to enable access to Mythos was cited as a real-world example of “AI supply chain chain risk,” in which one breach fuels another. The case is also raising questions about whether “only a few get access” remains a workable control strategy in the AI era. Unlike export-control models used in semiconductors and defense, the access itself can become the leak path. South Korea is also watching the debate. Ryu Je-myeong, second vice minister of science and ICT, told reporters at the World IT Show on the 22nd that the government is exploring official participation in security discussions involving Anthropic’s Glasswing and OpenAI, adding that direct information-sharing is needed “in some form.” The Ministry of Science and ICT has been holding a series of emergency issue-review meetings with domestic IT and security industry officials, including SK Telecom, KT, LG Uplus, Naver and Kakao, to assess cybersecurity readiness as AI capabilities advance. 2026-04-26 14:19:48
  • White House Correspondents’ Dinner Shooting Highlights U.S. Democratic Strains
    White House Correspondents’ Dinner Shooting Highlights U.S. Democratic Strains A symbolic Washington gathering was again shaken by gunfire. At the White House Correspondents’ Association dinner attended by U.S. President Donald Trump, an armed suspect carrying a shotgun opened fire on April 25 (local time) while trying to breach a security screening area, prompting an emergency evacuation of Trump and other key guests. The suspect was arrested at the scene, and the president and attendees were not hurt. The episode, however, cannot be dismissed as a routine security lapse. The correspondents’ dinner has long been a high-profile venue where U.S. politics and the press share the same room, a public display of the relationship between an administration that wields power and journalists tasked with scrutinizing it. A shooting at such an event underscores how social division and violence have reached even the country’s institutional and symbolic center, putting a democratic stage under physical threat. Investigators must determine whether Trump was targeted, whether the suspect acted alone, and whether there was a political motive. Whatever the motive, the effect is the same: when guns enter political space, debate gives way to fear. A society that shifts conflicts meant for elections, legislatures, the press and public assembly into the realm of weapons has moved into dangerous territory. The United States has repeatedly argued over gun regulation for years. After major tragedies, calls to tighten rules have grown, but political leaders have repeatedly failed to reach conclusions amid partisan confrontation. Constitutional debates and arguments over individual liberty deserve respect, but they cannot justify neglecting the state’s basic duty to protect public safety. If even a top-tier, heavily secured event with the president present is not fully safe, ordinary citizens’ anxiety is likely to be greater. Another concern is the normalization of political hostility. U.S. politics has grown accustomed to language that treats opponents not as rivals but as targets to be eliminated. Conspiracy theories, hatred and inflammatory rhetoric have spread between online spaces and real life. In such an atmosphere, violence by an extremist is less an accident than a foreseeable outcome. The incident is not only an American problem. Democracies broadly face shared challenges, including political polarization, disinformation, hate-driven agitation and leader worship. Cracks can begin when people assume institutions are unshakable. South Korea is not necessarily an exception; as political distrust and factional confrontation deepen, society can overheat quickly. The arrest of one gunman does not end the matter. The central task is to answer why such incidents keep recurring. Democracy is protected not by bullets, but by words, and the United States now faces that basic principle again. * This article has been translated by AI. 2026-04-26 14:15:16
  • Foreign and Institutional Investors Turn Net Buyers as Retail Investors Post Record Selling
    Foreign and Institutional Investors Turn Net Buyers as Retail Investors Post Record Selling Foreign and institutional investors reversed course within a month, shifting from heavy selling to net buying, while retail investors moved in the opposite direction with record-scale net sales. As foreigners and institutions bet on further gains led by large semiconductor stocks, retail investors appeared to lock in profits and take a more defensive stance. According to the Korea Exchange on the 26th, the KOSPI has risen 28.1% this month, staging a sharp rebound and reaching record levels, including an intraday move above 6,500. Large-cap stocks led the advance: market heavyweight Samsung Electronics gained 31.2%, and No. 2 SK hynix rose 51.4%. Buying by foreigners and institutions stood out. After posting a record monthly net sale of 35.88 trillion won in the KOSPI market last month, foreign investors turned net buyers this month, purchasing more than 2.5 trillion won worth of shares through the 24th. Institutions, which sold about 1 trillion won last month, bought more than 6.9 trillion won this month. By stock, foreigners were net buyers of Doosan Enerbility (1.133 trillion won), Samsung Electronics (867 billion won) and SK hynix (710.5 billion won). Institutions bought SK hynix (1.5587 trillion won), Samsung SDI (575.1 billion won) and Samsung Electronics (554.1 billion won). Retail investors showed the opposite pattern. This month, individuals have sold a net 14.7 trillion won, putting them on track to set a new monthly record for net selling. The total has already surpassed the previous record set in September last year. Still, retail buying has continued over the past three trading sessions, leaving open whether the record will ultimately be extended. Profit-taking in major semiconductor names was particularly pronounced. Individuals sold a net 6.5814 trillion won of Samsung Electronics and 2.498 trillion won of SK hynix this month. That contrasts with last month, when retail investors bought on weakness, purchasing a net 16.8172 trillion won of Samsung Electronics and 7.0705 trillion won of SK hynix during a steep market drop. The KOSPI fell 19.08% last month as tensions between the United States and Iran escalated, and retail investors then moved quickly to realize gains during the rebound, the report said. The market is focusing on rapidly rising earnings expectations for semiconductors. With memory prices climbing and supply remaining tight, some expect the industry upturn to persist for the time being. Brokerages said the KOSPI is also rewriting record highs, lifting the uptrend to a higher level. Kim Jong-min, a researcher at Samsung Securities, said, “The current uptrend is unlikely to break easily and is expected to move to a higher stage.” He added, “As supply is absorbed, the continued record-high flow creates strong upward momentum, so rather than leaving the market based on premature peak calls, this is the time to use the energy of the rise.” 2026-04-26 14:09:18
  • Korean Fish Market Vendors Grow Into 10 Billion-Won Businesses Through Coupang
    Korean Fish Market Vendors Grow Into 10 Billion-Won Businesses Through Coupang More vendors from traditional seafood markets in South Korea are using Coupang as a springboard to grow into small and midsize companies with annual sales in the 10 billion-won range, the e-commerce company said. The shift is credited to moving beyond complex distribution chains and face-to-face sales by using Coupang’s direct-from-source shipping and dawn-delivery system. Coupang said the number of small businesses based in major seafood markets and ports — including Busan’s Jagalchi Market, Yeosu, and areas such as Jeju, Noryangjin and Jindo — selling through Rocket Fresh has recently risen to 10. Their transactions now account for about 17% of Coupang’s overall seafood dawn-delivery sales, the company said. Coupang attributed the growth to direct deals that bypass the typical multi-step route from fishing grounds to wholesalers, sub-wholesalers and retailers, improving margins while expanding sales nationwide. The gains are reflected in company results. Dried-seafood seller Haemalgeun Food, which started from a street stall at Garak Market in 2012, reported sales of 40 million won when it joined Coupang in 2015. Ten years later, last year, sales topped 16 billion won — more than 400 times higher. The company has since built a modern production plant spanning 1,600 pyeong and increased its workforce by more than 10 times. Juil Co., which began as a seafood street stall at Seoul’s Jungbu Market in 1976, said it shifted after joining Coupang in 2018 from bulk raw-product sales to small packages and brand-focused offerings aimed at one-person households. Sales rose from 20 million won in its first month on Coupang to about 1 billion won a month, turning it into a midsize business. Good Morning Seafood, a newer seller from Noryangjin, said customized consulting from Coupang helped boost its sashimi sales volume by more than fivefold from early levels, and it is preparing additional hiring. Coupang said it expanded its direct-from-source seafood purchases from about 1,500 tons in 2024 to about 1,870 tons last year, and is continuing to add new sourcing areas nationwide, including Namhae in South Gyeongsang Province and Sinan and Wando in South Jeolla Province. A Coupang official said the company will prioritize finding more small merchants in traditional markets and, through Rocket Delivery and Rocket Fresh, focus on expanding sales channels, shared growth and digital transformation.* This article has been translated by AI. 2026-04-26 13:55:53
  • Trump Says Suspect Likely Acted Alone in WHCA Dinner Shooting, Downplays Iran Link
    Trump Says Suspect Likely Acted Alone in WHCA Dinner Shooting, Downplays Iran Link President Donald Trump said Friday that the suspect arrested in a shooting at the White House Correspondents’ Association dinner venue likely acted alone and that a link to Iran, which the United States is at war with, appeared unlikely. According to The Associated Press and other outlets, Trump told a White House news conference that when he first heard the shots, “I thought it was a tray dropping,” adding that it was “pretty loud” and sounded “pretty far away.” He said the suspect rushed from about 50 yards (about 45 meters) away, but Secret Service agents responded immediately. Trump said one agent was hit but survived because he was wearing “a very good bulletproof vest.” Trump said he had been attending the WHCA dinner Friday evening at the Washington Hilton in Washington when the shots were heard and he was evacuated. He said no attendees were wounded and the suspect was arrested at the scene. Trump identified the suspect as Cole Thomas Allen, 31, from Torrance, California. “They seem to think it’s a lone wolf. I think so, too,” he said. He said investigators searched Allen’s apartment and described him as someone with “very serious mental problems.” Asked about a possible Iran-related motive, Trump said, “I don’t think so,” but added, “You don’t know. We’re going to learn a lot” through the investigation. Referring to the incident, Trump urged Americans “to recommit, with all their hearts, to resolving conflicts peacefully.” He also cited two previous assassination attempts against him and said political disputes should be settled without violence. Trump was shot during an outdoor campaign rally in Butler, Pennsylvania, on July 13, 2024, suffering a wound that pierced the upper part of his right ear. He faced a second assassination attempt on Sept. 15 that year at a golf course in Florida. At the news conference, Trump said assassination attempts are carried out against “the most influential people,” adding, “I’ve done a lot. This country, which was mocked for years, has become the hottest country in the world.” He said, “We changed this country, and it seems there are many people who don’t like that,” and stressed the incident “will not stop me from winning the war with Iran.” Acting Attorney General Todd Blanche, who appeared with Trump, said the suspect would soon be charged, including on firearms-related allegations. FBI Director Kash Patel said investigators were working to determine the suspect’s background and whether there were any accomplices.* This article has been translated by AI. 2026-04-26 13:55:08
  • CNN: Suspect in Trump Shooting at White House Correspondents’ Dinner Identified as 31-Year-Old California Instructor
    CNN: Suspect in Trump Shooting at White House Correspondents’ Dinner Identified as 31-Year-Old California Instructor CNN, citing two sources, reported on 25 (local time) that the suspect in the shooting at the White House Correspondents’ Dinner venue has been identified as a 31-year-old man named Cole Tomas Allen. According to the report, Allen is an instructor and game developer who lives in Torrance, outside Los Angeles. A LinkedIn profile lists him as a part-time instructor at the private tutoring company C2 Education, and shows he received the company’s “Instructor of the Month” award in December 2024. CNN also reported, citing Federal Election Commission records, that Allen donated $25 to Kamala Harris, the Democratic presidential candidate in the 2024 election. The report said he studied mechanical engineering at the California Institute of Technology and earned a master’s degree in computer science last year from California State University, Dominguez Hills. After the shooting, the Secret Service said the suspect was arrested and is being held. In a statement, Secret Service spokesman Anthony Guglielmi said all protectees, including the president and first lady, were safe and that the suspect was in custody. Two sources said the gunman fired from outside the venue, injuring one Secret Service agent. The agent was hit but was wearing a bulletproof vest and is not expected to have life-threatening injuries. The shooting is believed to have occurred outside the banquet hall near a rear staircase on the side opposite the stage. President Trump and first lady Melania Trump quickly left the stage under Secret Service escort. 2026-04-26 13:52:09
  • Seoul Apartment Lease Demand Hits Highest Level Since June 2021, Data Show
    Seoul Apartment Lease Demand Hits Highest Level Since June 2021, Data Show Seoul’s apartment lease supply-demand index, a gauge of the balance between demand and supply for jeonse deposits, has climbed to its highest level since June 2021, signaling demand is outpacing available listings. According to the Korea Real Estate Board on the 26th, the index for the third week of April (as of April 20) came to 108.4, up 3.2 points from the previous week’s 105.2. The increase was larger than the prior week’s 0.7-point rise. It was the highest reading in about five years, since 110.6 in the fourth week of June 2021 (as of June 28). Readings above 100 indicate more tenants seeking jeonse than landlords offering it; the closer to 200, the stronger the demand relative to supply. The index rose as high as 109.1 in September 2021, a period widely described as a jeonse crunch. After the 2020 enactment of two rental laws — the right to request a contract renewal and a cap on rent increases — jeonse listings in the Seoul metropolitan area tightened, pushing prices higher. The annual apartment jeonse increase rate in the metropolitan area reached 10.65%. In Seoul, the index moved above 100 starting in the third week of May last year (100.2) and has continued to rise since March as the spring moving season began. By region, the index was highest in the northeast area (Seongdong, Gwangjin, Dongdaemun, Jungnang, Seongbuk, Gangbuk, Dobong and Nowon) at 111.3. It was followed by the northwest (Eunpyeong, Seodaemun and Mapo) at 108.6, the southwest (Yangcheon, Gangseo, Guro, Geumcheon, Yeongdeungpo, Dongjak and Gwanak) at 108.2, the southeast (Seocho, Gangnam, Songpa and Gangdong) at 105.3, and the central area (Jongno, Jung and Yongsan) at 105.3. The rise is being attributed to a mix of factors, including tighter rules affecting rental businesses and lending, and fewer listings from owners of multiple homes. The government’s Oct. 15 measures designated all of Seoul and 12 areas in Gyeonggi Province as land transaction permit zones, requiring owner occupancy and blocking so-called gap investment — buying homes with a jeonse tenant in place — which contributed to the listing squeeze. Tax rules aimed at encouraging multi-home owners to sell also had an impact as some existing rental homes shifted to owner occupancy. Lee Chang-moo, a professor of urban engineering at Hanyang University, said rental supply needs to keep pace with newly formed households, but “the path for rental businesses or multi-home owners to expand supply is blocked, and if they sell, the homes shift to owner-occupied.” He added, “It’s not just that one rental unit disappears — the chain of housing moves gets clogged.” The shift from jeonse to monthly rent is also accelerating. According to housing statistics from the Ministry of Land, Infrastructure and Transport, monthly rent accounted for 68.3% of the national rental market in February, the highest in five years. In Seoul, the share was 70.3%, above the national average and a key driver of the rise. With jeonse supply tight, prices are also rising quickly. Seoul apartment jeonse prices rose 0.22% in the third week of April from the previous week, the biggest weekly increase since December 2019. The average jeonse price, as of last month, was 600.149 million won, topping 600 million won for the first time in three years and five months. Jin Chang-ha, a professor of economics at Hanyang University, said in the Seoul metropolitan area, where homeownership is relatively low, tighter lending rules that make leveraged investment harder can lead investor-held homes to shift into the sales market or to arrangements with smaller deposits and higher monthly payments. “As a result, existing jeonse supply will convert to monthly rent, and existing jeonse tenants will shift into end-user demand in outlying areas — a major change,” he said. 2026-04-26 13:48:19
  • Korea Trade Insurance Corp. to Boost Liquidity Support for Small Defense Exporters
    Korea Trade Insurance Corp. to Boost Liquidity Support for Small Defense Exporters Korea Trade Insurance Corp. is stepping up support for small defense firms seeking overseas orders, aiming to broaden the export base of South Korea’s defense industry beyond large prime contractors. The agency said on the 26th it will provide liquidity support to help Dasan Machining expand globally. Under the program, K-SURE will guarantee losses tied to bank guarantees that importers often require when export contracts are signed. The arrangement is intended to raise the likelihood of closing export deals while freeing up funds that had been tied up as collateral at banks. It is the first case of K-SURE directly supporting an export transaction by a small defense company since it set up a dedicated team last year to foster the defense industry. K-SURE President Jang Young-jin said the support directly backs exports of finished defense products by small firms and promotes more balanced growth for K-defense exports. He said the agency will continue to provide support so Korean companies can play a leading role in the country’s push to become one of the world’s top four defense powers. * This article has been translated by AI. 2026-04-26 13:42:52