Journalist

Lee Hugh
  • 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
  • South Korea Closes Regulatory Gap by Classifying Liquid E-Cigarettes as Tobacco
    South Korea Closes Regulatory Gap by Classifying Liquid E-Cigarettes as Tobacco Liquid-type e-cigarettes have been formally brought under the legal definition of “tobacco.” A revised Tobacco Business Act that took effect on the 24th expanded the definition from products centered on “tobacco leaves” to include nicotine products. Until now, synthetic-nicotine liquid e-cigarettes were distributed largely like ordinary consumer goods, avoiding taxes and regulation. The move is late but necessary to bring an off-the-books market into the system. The regulatory gap has lasted years. The National Assembly and the government have discussed the issue since 2016 but failed to reach a conclusion amid industry pushback and disagreements among ministries. In the meantime, the market grew while oversight lagged. Synthetic-nicotine liquids were excluded from levies such as the tobacco consumption tax and the National Health Promotion charge, giving them a price advantage. Lost revenue mattered, but a bigger problem was the unfairness of applying different standards to products with the same nature. More serious was the risk of youth exposure. With online sales, distribution through unmanned shops and disguised products resembling everyday items, barriers to access fell sharply. Regardless of form, tobacco products should be managed under the basic social principle of protecting minors. Under the revision, health warnings, advertising limits and smoke-free area rules will apply. Still, changing the law does not resolve everything. In the field, concerns are emerging about price increases, stockpiling and confusion among small retailers. Policy cannot end as a declaration. Authorities should quickly tighten the details of enforcement, including tax standards, distribution controls, procedures for business conversion and consumer guidance. A larger task is blocking new ways to evade oversight. Similar products could reappear in blind spots by altering nicotine structures or claiming to be nicotine-free. A legal framework that merely lists specific ingredients cannot keep pace with new products. Markets change quickly, and administration has often moved late; that pattern should not be repeated. The purpose of tobacco regulation is not simply to collect more tax. It is to protect public health, prevent youth access and restore order to the market. Bringing liquid e-cigarettes into the tobacco category is a late but necessary first step. The government and the National Assembly now face a clear task: close the next loophole before it opens. A decade-long regulatory vacuum must not be allowed again. 2026-04-26 13:42:00
  • Hoban Construction Wins $110 Million Seoul Housing Redevelopment Contract
    Hoban Construction Wins $110 Million Seoul Housing Redevelopment Contract Hoban Construction said April 26 it has won the contract for the “Myeonmok Station 6-5 district street housing redevelopment project” in the area around 113-1 Myeonmok-dong, Jungnang-gu, Seoul. The project calls for six apartment buildings, from three basement levels to 29 stories above ground, with 449 units and related community and welfare facilities. Total construction costs are estimated at about 150 billion won. The site is within walking distance of Myeonmok Station and Sagajeong Station on Seoul Subway Line 7, and is near green spaces including Yongmasan, Sagajeong Park and Kkachi Children’s Park. Within a 1-kilometer radius are schools including Myeondong Elementary School, Junghwa Middle School, and Myeonmok Middle and High School. Hoban Construction said it plans to actively review additional bids linked to nearby areas around the Myeonmok Station 6-5 district to advance a “Moa Town” project. Moa Town is a Seoul city small-scale redevelopment program that groups multiple zones of aging low-rise residential neighborhoods for development. The company has said it is expanding orders for urban redevelopment projects in Seoul and other major cities in the greater capital area since opening its Seoul office at the Korea Press Center in Jung-gu, Seoul, in October last year. * This article has been translated by AI. 2026-04-26 13:40:08
  • Denso Withdraws ROHM Buyout Bid as ROHM Moves Toward Toshiba-Mitsubishi Electric Alliance
    Denso Withdraws ROHM Buyout Bid as ROHM Moves Toward Toshiba-Mitsubishi Electric Alliance Denso’s bid to acquire ROHM, seen as a potential turning point in Japan’s reshaping of the power semiconductor sector, has fallen through. With ROHM opting to pursue a three-company alliance with Toshiba and Mitsubishi Electric, the center of gravity in the industry’s reorganization appears to be shifting away from being folded into an automaker group and toward consolidation among manufacturers. The Nikkei newspaper reported in its April 26 edition that Denso had sought to buy ROHM to prepare for the spread of electric vehicles but decided to withdraw after failing to win ROHM’s consent. Denso in February proposed buying all ROHM shares through a tender offer valued at about 1.3 trillion yen (about 12.1 trillion won). Denso had already secured about a 5% stake in ROHM and pursued cooperation in semiconductors, but it did not obtain control. ROHM, meanwhile, had been holding separate integration talks with Toshiba and Mitsubishi Electric. The three companies began discussions in March on combining their power semiconductor businesses, and ROHM’s decision increases the likelihood that the plan will move forward in earnest. A central issue is business balance and independence. ROHM has strengths in silicon carbide-based power semiconductors, a next-generation material, and Denso aimed to absorb that capability to quickly boost competitiveness. ROHM appears to have judged that becoming part of Denso could tilt its business toward automotive semiconductors and unsettle ties with other auto-parts makers that are existing customers. By contrast, a three-company alliance could serve a broader range of demand, including industrial, infrastructure and consumer electronics markets, enabling a more balanced growth strategy. The global competitive landscape also looms large. Europe’s Infineon Technologies and U.S.-based onsemi rank among market leaders, while Chinese companies are intensifying low-price competition. Most major Japanese players have market shares below 5%, underscoring limits to scale as standalone firms. Automakers are also accelerating in-house semiconductor efforts: Tesla and BYD are strengthening their own chip design, and Volkswagen is working with a Chinese company on vehicle system-on-chip development. Against mounting pressure on multiple fronts, the three-company plan reflects a push to gain strength through scale. Still, significant hurdles remain before any alliance becomes reality. One is persuading shareholders. ROHM shares rose into the 3,200-yen range on expectations of a Denso deal and have recently climbed into the 3,700-yen range. With the tender offer off the table, shareholders will focus on whether a three-way integration can deliver greater corporate value. With ROHM’s annual shareholders meeting set for June, confidence in management could also become an issue. ROHM executives voiced confidence. ROHM President Katsumi Azuma said the three-company alliance “can maximize shareholder value and surpass Denso’s proposal.” If ROHM’s SiC technology is combined with Toshiba’s broad customer base and Mitsubishi Electric’s strengths in high-voltage infrastructure, some have suggested the integrated power semiconductor business could be discussed as reaching the world’s No. 2 tier by revenue. Execution is another challenge. Integrating multiple companies can complicate decision-making and slow agreement on leadership. Toshiba and ROHM previously held cooperation talks that failed to take concrete shape, raising concerns that the latest effort could face similar setbacks. The collapse of Denso’s bid is being read as a signal that Japan’s power semiconductor industry is choosing horizontal consolidation among manufacturers over automaker-led vertical integration. Whether that choice translates into stronger competitiveness will depend on execution.* This article has been translated by AI. 2026-04-26 13:39:17
  • Column: A Campaign Visit to Seoul City Hall Raises Questions About Power and Humility
    Column: A Campaign Visit to Seoul City Hall Raises Questions About Power and Humility The pressroom at Seoul City Hall is usually quiet. That does not make it a light place. It is not where power is proclaimed, but where it is tested. Policies pass through here before they become public debate, and those who seek authority must pass through here before they can stand before citizens. That steady atmosphere is part of the order that holds the city together. A small ripple crossed that order a few days ago, on a Friday afternoon. Several people connected to the Democratic Party’s Jung Won-oh campaign suddenly came into the pressroom. Reporters were not there at the time. There was a leader, and some appeared focused on looking over the space. A brief, formal greeting was exchanged with one person, but what stood out more was the direction of their steps. They seemed to treat the room less as a place for conversation than as a space they would soon be passing through. The difference may look subtle, but it is decisive. Power often shows its face first in such details. Politics moves on assumptions about the future. Anyone can imagine victory and prepare to govern. But there is a difference between preparing for the future and acting as if the future is already secured. The first is tension; the second is another name for arrogance. That arrogance tends to surface first in small scenes — how someone knocks on a door, how they treat a space, how they look at people. It reveals how they understand power. The scene brought back an old memory from the Seoul mayoral race between Oh Se-hoon and Han Myeong-sook. It was the atmosphere among Han’s supporters on the night they were confident of victory even before the vote count ended. In central Seoul, at Seoul Plaza, they beat drums and sang. As the caption “certain to win” ran, they chanted, “Oh Se-hoon, move out — move out now.” The cheering seemed to go beyond the results themselves. The heat of that night was intense, but it did not last. The count was still underway, and the result flipped at the last moment. Seoul made its choice — not the side intoxicated with certainty, but the side that kept its tension to the end. Seoul is often like that. It can look as if it is swayed by emotion, but at decisive moments it steps back and judges. It is not a city driven only by factional logic. It watches not who shouts louder, but who keeps balance. Parties, too, must stand on that balance — especially those that dream of governing. Winning power may be possible with the passion of supporters, but holding it is shaped by one’s attitude toward all voters. Elections can create power, but its dignity is visible even before Election Day. What language is used, what posture is taken, what is treated as “obvious” — all of it signals the level of power. The same questions apply to Jung Won-oh and his campaign. What is needed now is not stronger certainty of victory, but humility in attitude. Seoul is not a city to be “taken over.” Interests are tightly intertwined, many ways of life coexist, and even a single policy can set countless interests against one another. Seoul cannot be anyone’s possession. Administration is a public system that works on behalf of citizens. The moment anyone steps onto that system, they should become more modest. That is a basic order of democracy. 2026-04-26 13:30:19
  • Korean Drugmakers Rush Into Clinical Trials for Next-Generation ADC Cancer Drugs
    Korean Drugmakers Rush Into Clinical Trials for Next-Generation ADC Cancer Drugs South Korea’s pharmaceutical and biotech companies are moving aggressively into clinical development of antibody-drug conjugates, or ADCs, as global drugmakers pour massive investment into the fast-heating field. Several Korean firms have now advanced candidates to the patient-dosing stage, intensifying competition to develop next-generation cancer therapies. Industry officials said ADCs combine an antibody’s ability to target tumors with the cancer-killing effect of a cytotoxic drug. By linking the drug to an antibody, the therapy is designed to deliver treatment selectively to cancer cells, potentially reducing toxicity compared with conventional chemotherapy while improving effectiveness. Celltrion is accelerating development with multiple programs. After securing Finobio’s platform technology, PINOT-ADC, in 2022, it advanced three ADC cancer candidates to patient dosing. The three pipelines — CT-P70, CT-P71 and CT-P73 — received U.S. Food and Drug Administration approval for Phase 1 investigational new drug applications last year. CT-P73 began dosing patients in the first quarter of this year, while CT-P70 and CT-P71 started dosing in the second half of last year. CT-P70 and CT-P71 also received FDA fast-track designation, the company said. Samsung Bioepis, long focused on biosimilars, has entered new-drug development and moved into ADCs. After signing a joint research and technology licensing deal with Intocell in December 2023, it launched a global Phase 1 trial of its first new-drug pipeline, SBE303. Preclinical results disclosed at the American Association for Cancer Research meeting, AACR 2026, showed SBE303 improved tumor-cell binding specificity and intracellular drug-delivery efficiency compared with existing nectin-4 targeted therapies, the company said. It also reported no observed safety signals such as interstitial lung disease, or ILD. Chong Kun Dang, known for a strong oncology portfolio, is also expanding into biologic drugs through ADC development. After licensing platform technology from Dutch company Synaffix in 2023, it has been developing CKD-703, a c-Met-targeting ADC. In a global Phase 1/2a trial, the company has begun enrolling its first patient in the United States. The study targets patients with solid tumors including non-small cell lung cancer, or NSCLC, and is being conducted at about 12 sites in South Korea and the United States. The company said it has also received clinical approval in South Korea and expects patient enrollment there in the first half of the year, with plans to expand to Europe and other countries. According to market research firm Mordor Intelligence, the ADC market is projected to grow from about $20 billion this year to $70 billion by 2031. Expectations are rising that if ADCs expand into first-line treatment for major cancers, the number of patients and duration of dosing could increase sharply. To date, 15 ADC therapies have received FDA approval. One industry official said ADCs are being valued highly because of their potential expansion into first-line treatment. “ADCs are emerging as a mainstream approach in the oncology market, so the market is likely to grow even larger,” the official said.* This article has been translated by AI. 2026-04-26 13:27:18
  • Korean Food Makers Split on R&D Spending as Profits and Overseas Sales Diverge
    Korean Food Makers Split on R&D Spending as Profits and Overseas Sales Diverge R&D spending by South Korean food companies is increasingly split between firms cutting back to protect profits and those expanding investment on the strength of overseas growth. Companies facing weaker results and higher input costs have tended to trim research budgets and lean on proven products rather than fund new launches. Meanwhile, firms with solid overseas performance have widened the gap by boosting R&D as a longer-term growth engine. An analysis of filings with the Financial Supervisory Service showed that R&D outlays among major food makers varied sharply depending on earnings and the share of sales generated abroad. Industry leader CJ CheilJedang spent 194.5 billion won on R&D last year, down 16.6 billion won, or 7.8%, from 211.1 billion won a year earlier. Its operating profit margin fell from the 5% range to the 4% range, increasing pressure to cut costs, the analysis said. Lotte Chilsung Beverage, Ottogi and Nongshim also reduced spending. Lotte Chilsung cut R&D to 26.8 billion won from 29.6 billion won, down 9.5%. Ottogi lowered it to 19.3 billion won from 20.4 billion won, down 5.4%. Nongshim reduced it to 28.3 billion won from 29.5 billion won, down 4.1%. The pullback was most evident among companies more dependent on the domestic market or slower to recover from rising raw-material costs. By contrast, companies sustaining growth overseas increased investment. Daesang raised R&D spending to 56.9 billion won in 2025 from 46.5 billion won in 2024, up 22.4%, or 10.4 billion won, the largest increase in absolute terms among major food companies. R&D as a share of sales rose to 1.29% from 1.09%, reaching the industry’s top level. The company’s push to expand global businesses centered on ingredients and bio-related operations helped drive the increase. Samyang Foods, which has posted record results with overseas sales accounting for more than 80% of revenue, increased R&D spending to 12.7 billion won from 7.8 billion won, up 62.8%. Backed by an operating profit margin in the 20% range, it has focused funding on locally tailored products and strengthening brand competitiveness. Orion, with overseas sales making up more than 60% of revenue, increased R&D to 6.1 billion won from 5.7 billion won, up 7.0%. As overall R&D investment cools, product strategies are also shifting toward lower-risk moves. Instead of costly new launches, companies are increasingly reviving past hits with updated concepts. Nongshim restored its 1975 “Nongshim Ramyun” to mark its 60th anniversary and sold 10 million packs in three months, riding a retro trend. Lotte Wellfood also brought back discontinued nostalgic products such as “Daerong Daerong,” drawing strong consumer response. “Moves to use proven assets for more efficient management are becoming more pronounced,” a food industry official said. “But if this conservative stance lasts, basic investment to secure new technologies could shrink, and the gap in product competitiveness between companies could widen.” 2026-04-26 13:09:19