Journalist

Lee Hugh
  • South Korea Says No Supply Disruptions Yet for Health, High-Tech Materials; Backup Imports Ready
    South Korea Says No Supply Disruptions Yet for Health, High-Tech Materials; Backup Imports Ready The South Korean government said key industries have not yet seen disruptions in supplies of critical raw materials despite growing concerns that a prolonged war in the Middle East could rattle global supply chains for health care, medical and advanced industries. Officials said they will move quickly to secure alternative import sources if problems emerge. The Ministry of Trade, Industry and Energy said it reviewed supply conditions by sector during a “Middle East war response headquarters briefing” held by video at the Government Complex Seoul on Wednesday. Nam Gyeong-mo, a policy adviser to the industry minister, said core materials for semiconductors, autos, batteries and shipbuilding have not faced supply disruptions so far. The ministry said it is continuing to monitor the risk of higher raw material prices and distribution instability if the conflict drags on. International oil prices remained elevated. As of 7 a.m. Wednesday, Brent crude was $101.50 a barrel and U.S. West Texas Intermediate was $92.69. That was up 40.1% and 38.3%, respectively, from March 27, just before the United States and Israel carried out airstrikes on Iran. JKM, a spot price benchmark for liquefied natural gas, rose by nearly 50% over the same period. Domestic price increases for refined petroleum products were more limited, the ministry said. Compared with March 27, gasoline prices rose 18.5% and diesel rose 25.1%. The government said it is accelerating steps to prevent supply-chain instability tied to the war. In health and medical supplies, it said inventories of IV solution packaging, syringes and medical gloves remain at normal levels and raw materials are being supplied steadily. For IV solution packaging, the government said it has taken steps to avoid supply problems through the end of June and has also been pursuing alternative supply options through prototype testing since late last month. For syringes, the Ministry of Food and Drug Safety has enforced a ban on hoarding since April 14 and is conducting on-site inspections with an enforcement team of about 70 people, the industry ministry said. The ministry said it is also monitoring key manufacturing inputs. Hydrogen bromide used in semiconductor processes is being imported normally, mainly from the United States and Japan, it said. Helium supplies are also stable after securing substitute volumes from the United States. Aluminum wheels used in auto parts have alternative supply lines in place, including Malaysia, India and China, the ministry said. Nickel sulfate, a key battery material, is expected to see limited impact because a large share is produced domestically. Ethylene gas used by shipbuilders is continuing to be supplied with government mediation, the ministry said. HD Hyundai is set to receive 2,000 tons from HD Hyundai Chemical next month, including 200 tons to be supplied first to small and midsize shipbuilders. The ministry said it will accept applications from smaller shipbuilders through the Korea Offshore & Shipbuilding Association. Officials said they are also checking supplies of consumer-related items such as paint, packaging materials, agricultural mulching film, syrup bottles and cosmetics containers. With concerns rising over higher packaging costs, the industry ministry, the food and drug safety ministry and the Ministry of SMEs and Startups have formed a separate task force to manage supply conditions for major items including ramen and infant formula. The government has asked the petrochemical industry to prioritize domestic supply. Thirty-three companies in the Korea Chemical Industry Association said they plan to supply key products — including ethylene, propylene, PE and PP — to the domestic market first. Hanwha TotalEnergies said it is working to normalize supplies of paraxylene (PX) by securing additional naphtha volumes. 2026-04-23 16:06:40
  • South Korea to Tax and Regulate Synthetic-Nicotine E-Cigarette Liquids as Tobacco Starting April 24
    South Korea to Tax and Regulate Synthetic-Nicotine E-Cigarette Liquids as Tobacco Starting April 24 Starting on the 24th, liquid e-cigarettes made with synthetic nicotine will be officially recognized as “tobacco,” bringing them under full taxation and distribution and health regulations. The government said it aims to close a legal loophole by bringing the products into the regulatory system to improve tax fairness and strengthen public health protections. The Ministry of Economy and Finance said on the 23rd that, under the revised Tobacco Business Act, the legal definition of tobacco will expand from products made from “tobacco leaves” to products made using “tobacco or nicotine (including natural and synthetic)” as a raw material. As a result, liquid e-cigarettes using synthetic nicotine will be subject to the Tobacco Business Act and related tax laws. Manufacturers and importers will be required to pay tobacco-related taxes and charges — including individual consumption tax, tobacco consumption tax, local education tax and the National Health Promotion Charge — when products leave a factory or when imports are declared. To limit market disruption at the start of the system, those taxes will be cut by 50% for two years on a temporary basis. Manufacturers and importers must obtain approval from the finance minister and register with provincial and metropolitan governments. Packaging must carry mandatory warnings and images and list ingredients such as nicotine content. Products must undergo a harmfulness test every two years, and labeling of flavoring substances will be restricted. Retail sales will require designation as a tobacco retailer by local governments. Online sales and sales to minors will be banned. Reselling products after opening them to add other substances or alter the contents will also be prohibited. User restrictions will match those for conventional cigarettes. Synthetic-nicotine e-cigarettes will be banned in no-smoking areas, as other tobacco products are. To reduce confusion early in the rollout, the government will introduce a product identification system. For products made or imported after the effective date, packaging will be required to print identification wording on the front and at the opening area indicating whether tax obligations have been met, so consumers can more easily confirm legal distribution. Inventory produced before the law takes effect will be managed separately. The government said it will set standards that include requiring harmfulness testing, recommending limits on sales of products kept in circulation for long periods, and notifying consumers. It also said it will conduct harmfulness assessments of “nicotine-like” products with chemical structures similar to nicotine and review future management measures.* This article has been translated by AI. 2026-04-23 16:05:41
  • Seoul Homebuyers Shift to Smaller Units as New-Home Prices Surge
    Seoul Homebuyers Shift to Smaller Units as New-Home Prices Surge With Seoul’s new-apartment presale prices in the mid-50 million won range per 3.3 square meters, the subscription market is shifting quickly. As construction costs jump and loan rules tighten, buyers are increasingly turning away from the standard 84-square-meter unit and concentrating on smaller homes. According to the redevelopment industry on April 23, the winning score cutoff for the 84-square-meter units at “Ra Clache Zide Fine,” recently offered in Seoul’s Dongjak district, was 62 points, below expectations. With presale prices reaching the 2.5 billion won range, demand thinned because entry is difficult without substantial cash on hand. Smaller 59-square-meter units told a different story. They posted an average competition rate of 39.8-to-1, well above the overall average of 26.9-to-1, and the winning cutoff reached as high as 74 points — higher than the 84-square-meter units. High-score applicants and end users crowded into the less expensive sizes, making small units harder to win. The same pattern has appeared across major Seoul offerings. At “Raemian Elavine” in Banghwa-dong, Gangseo district, the 59㎡B type drew 228.8-to-1 competition and required 69 points, the maximum for a four-person household. The 84㎡B type drew 16.1-to-1, and the minimum winning score fell to 50 points, a gap of nearly 20 points. At “The Sharp Priella” in Mullae-dong, Yeongdeungpo district, all 59-square-meter types had a 69-point cutoff, while the 84㎡B type formed a winning range at a low of 62 points. Even at the ultra-high-priced “Otier Banpo” in Seocho district, smaller units led. The 44-square-meter type recorded 622.8-to-1 competition and an average winning score of 76.5 points — more than 6 points higher than mid-to-large types such as the 84㎡A (70.67 points) and 97.6㎡ (69.5 points). Analysts say as prices and loan barriers rise, high-score applicants are giving up space to enter top neighborhoods, deepening the score divide by unit size. Real estate data firm Real Estate R114 said 218,047 people applied last year for units of 60 square meters or less in the Seoul metropolitan area, surpassing for the first time the 217,322 applicants for mid-size units of 60 to 85 square meters. In Seoul, 59.7% of applicants — about six in 10 — chose small units. The shift is widely attributed to steep price increases and strict lending rules. As of early this year, the average presale price in Seoul was about 1.89 billion won for an 84-square-meter unit, compared with about 1.4 billion won for a 59-square-meter unit, a difference of roughly 490 million won. Factoring in acquisition tax and loan interest, the perceived gap exceeds 500 million won. Relief on construction costs also appears distant. The Korea Institute of Civil Engineering and Building Technology said the construction cost index in February rose 2.04% from a year earlier to 133.69, extending a record-high streak to six straight months. Experts say as long as high interest rates and loan restrictions persist, end users will keep lowering expectations to homes they can realistically win. Supply concerns are also growing as unstable materials procurement delays project starts, potentially pushing up the value of smaller units with lower entry barriers. KICT data show the materials supply index last month fell 16.7 points from the previous month to 74.3; readings below 100 indicate more companies view conditions negatively than positively. Baek Sae-rom, a senior researcher at Real Estate R114, said that as one-person households increase and household formation accelerates, rising presale prices are prompting buyers who initially considered 84-square-meter units to “lower their expectations and change their options to match price levels.” With shrinking household size and heavier financing burdens, she said, the preference for smaller units is likely to become even more pronounced.* This article has been translated by AI. 2026-04-23 16:04:30
  • Yuripibu Revamps Bifida Deep Cleansing Oil, Targets Family Month Gift Demand
    Yuripibu Revamps Bifida Deep Cleansing Oil, Targets Family Month Gift Demand Yuripibu, a skincare brand, has released a revamped version of its “Bifida Deep Cleansing Oil,” saying it strengthened the product’s ability to support skin condition after cleansing as well as remove impurities. Cleansing oils are widely used as a first-step wash to dissolve makeup and sebum, but they have often been treated as separate from moisturizing or barrier care. Yuripibu said it updated the formula to focus on protecting and hydrating skin during cleansing. The renewed product applies fermentation-derived ingredients, including bifida ferment lysate. The ingredient is widely used in cosmetics and is known for helping with skin hydration and maintaining the skin barrier. The formula also blends lactococcus ferment and lactobacillus ferment filtrate. Fermented ingredients are used in the cosmetics industry as materials that can help retain moisture while reducing irritation. The product also contains plant-based oils. Ingredients such as soybean oil, rosehip oil, macadamia seed oil, jojoba seed oil and squalane are commonly used in cleansing oils to help soften and moisturize skin. Oil-based formulas are often used for first-step cleansing because they effectively dissolve oil-soluble residue and makeup. Yuripibu said it improved emulsification speed — the process in which cleansing oil meets water and turns milky to rinse away residue. Faster emulsification can shorten cleansing time and reduce friction on the skin. The company said it adjusted the feel of the product after feedback that the previous version could leave a lingering residue. The scent and texture were also changed. The company applied a yuzu fragrance and an essence-type texture to enhance the sensory experience during washing, reflecting a broader market trend that emphasizes user experience as well as function. Within the lineup, the brand maintained functional distinctions. While “Grante Daily Cleansing Oil” focuses on sebum care and a lighter feel, the Bifida Deep Cleansing Oil emphasizes makeup removal and hydration. In general, consumers with dry skin tend to prefer moisture-focused products, while those with oily or combination skin often favor lighter textures. Industry observers have long stressed the need to minimize irritation during cleansing. Excessive cleansing can damage the skin barrier, making the balance between cleansing power and hydration a key competitive factor. As a result, companies have continued developing cleansing products that combine fermented ingredients and plant-based oils. Yuripibu said it will run a “Family Month” promotion on Naver Smart Store from April 30 to May 11, offering set packages that include its cleansing oil products.* This article has been translated by AI. 2026-04-23 16:00:18
  • Philippine Airlines Fuel Surcharge Raised Near Cap for April 16-30
    Philippine Airlines Fuel Surcharge Raised Near Cap for April 16-30 The Philippine Civil Aeronautics Board (CAB) raised the benchmark used for airlines’ passenger fuel surcharges to “Level 19,” near the ceiling, for the April 16-30 period. For passenger flights, the surcharge for international routes will range from 2,070.77 to 15,397.15 pesos depending on the destination, while domestic routes will be charged 627 to 1,834 pesos. That is about 2.5 times higher than the April 1-15 period. The CAB sets fuel-surcharge benchmarks on a Level 0-20 scale. It had stayed at “Level 4” for a long period through March, but raised it to “Level 8” for April 1-15 as fuel prices surged amid conflict in the Middle East. Price monitoring and surcharge-setting had been done on a monthly cycle, but starting in April it was temporarily shifted to a 15-day cycle to respond more quickly to price swings.* This article has been translated by AI. 2026-04-23 15:59:35
  • Seoul Expands Floor-Area Ratio Relief to Station-Area Long-Term Lease Housing Redevelopment
    Seoul Expands Floor-Area Ratio Relief to Station-Area Long-Term Lease Housing Redevelopment Seoul is expanding its policy to ease baseline floor-area ratio limits to include station-area long-term lease housing projects, raising expectations that redevelopment zones with approved plans can improve feasibility by reducing required rental housing shares. The city said April 23 that station-area long-term lease housing sites already designated as redevelopment zones and with plans finalized will apply the eased baseline floor-area ratio at the later integrated review stage. Under Seoul’s plan to promote station-area long-term lease housing, developers can receive up to a 30% increase in the baseline floor-area ratio through two steps. First, supplying at least 20% small homes of 60 square meters or less raises the baseline by 20%. An additional increase of up to 10% can be granted by applying a project profitability adjustment factor. In the first project to apply the policy, the Singil station-area redevelopment in Yeongdeungpo District increased the number of units for sale to the public by 29, to 628 from 599. The area received approval for a revised redevelopment plan in 2024, and the change passed the city’s seventh integrated review committee for redevelopment projects on April 16. The adjustment factor applied was 1.45. The city calculates the figure by dividing Seoul’s average officially assessed land price by the project area’s average assessed price, then adding coefficients for site area and household density. A Seoul official said that if the city eases the baseline floor-area ratio by up to 30%, the 20% portion is fixed, while the remaining 10% can vary depending on the adjustment factor. The official said the factor is intended to provide a boost when a project area’s assessed land price is lower than the city’s average for reconstruction and redevelopment. Districts such as Seodaemun and Dongdaemun, where assessed land prices are below the average, are expected to benefit. A key example is the Hongje station-area long-term lease housing urban renewal-type redevelopment near Hongje Station on Seoul Subway Line 3 in Seodaemun District. The district opened a public review of a redevelopment plan in November to build a complex of 3,026 households. Of those, 392 would be redevelopment rental units and 784 public rental units, leaving 1,850 for general sale. If the baseline floor-area ratio is eased through the adjustment factor, the rental share could fall further. In Dongdaemun District, the city on April 16 completed an official notice designating the redevelopment zone and finalizing the plan for the Sinimun 2 station-area long-term lease housing urban renewal-type redevelopment. The project calls for 1,200 households, including 115 rental units and 247 long-term lease units. The official said that with baseline floor-area ratio easing now applied to station-area long-term lease housing redevelopment, the average proportional rate is expected to rise by about 10%. The profitability adjustment factor, however, will not apply in Seoul’s three Gangnam districts and Yongsan District. In the Wonhyoro 1-ga station-area long-term lease housing urban renewal-type redevelopment, for example, the project can receive only the 20% easing tied to supplying at least 20% small homes of 60 square meters or less. Even with that benefit, the project expects the rental share to shrink to 27% from 29%. 2026-04-23 15:58:42
  • Court Upholds Culture Ministry’s Call for Heavy Sanctions Against KFA Chief Chung Mong-gyu
    Court Upholds Culture Ministry’s Call for Heavy Sanctions Against KFA Chief Chung Mong-gyu A South Korean court ruled that the Ministry of Culture, Sports and Tourism acted lawfully in ordering the Korea Football Association to seek heavy disciplinary action against its president, Chung Mong-gyu. The Seoul Administrative Court’s Administrative Division 5, led by Presiding Judge Lee Jeong-won, ruled Thursday against the association in its lawsuit seeking to overturn the ministry’s notice of special-audit results and related corrective demands. The court said that while some findings may have been inappropriate, that alone did not make the ministry’s corrective demands unjust or illegal. It added that the level of disciplinary action requested fell within the ministry’s discretionary authority. The court also said the association is not unconditionally required under the Public Audit Act to comply with the ministry’s demands. If the association does not comply, the ministry may conduct another audit, but it has no direct means to impose discipline or force implementation, the court said. In November 2024, the ministry announced the results of a special audit of the association and demanded disciplinary action of at least a suspension of qualifications against Chung and other key figures. The audit said it confirmed 27 cases of illegal or improper handling of 업무, including problems in the process of appointing the national team’s coaching staff. The ministry launched the special audit in July that year after controversy over alleged unfairness surrounding the appointment of Hong Myung-bo as head coach of the national team. At the time, the ministry demanded disciplinary action of at least a suspension of qualifications against Chung, then full-time vice president Kim Jeong-bae and Technical Director Lee Im-saeng, citing responsibility for poor institutional management. It also ordered the association to report back within one month. The association sought reconsideration, but the ministry rejected the request. The association then filed suit to cancel the ministry’s action and also sought a suspension of enforcement. An association official said the ministry sought disciplinary action against nearly 20 staff members and executives at the roughly 100-person organization, and that it would be difficult to accept all of the demands. In February last year, the court granted the request to suspend enforcement, allowing Chung to run in the next association presidential election and win. The court said then there was an urgent need to prevent irreparable harm to the association from enforcement of the ministry’s action, and that a suspension was unlikely to significantly harm the public interest. That decision was upheld in September last year by the Supreme Court on a re-appeal. The ministry appealed, but the Seoul High Court reached the same conclusion in May that year, and the Supreme Court later finalized it. With the association losing the main lawsuit, the ministry’s disciplinary-action demand against Chung has regained effect. Chung won a fourth consecutive term in February last year, receiving 156 of 182 valid votes in the election for the 55th KFA president.* This article has been translated by AI. 2026-04-23 15:57:47
  • S. Korean researchers identify protein mechanism to overcome leukemia drug resistance
    S. Korean researchers identify protein mechanism to overcome leukemia drug resistance SEOUL, April 23 (AJP) - A joint research team from the Korea Advanced Institute of Science and Technology, Uijeongbu Eulji University Hospital, and Ulsan National Institute of Science and Technology has identified a new molecular mechanism that controls how chronic myeloid leukemia responds to anticancer drugs, the state-operated research institute located in the central city of Daejeon said Thursday, April 23, 2026. Chronic myeloid leukemia is caused by an abnormal protein called BCR::ABL1 that sends continuous growth signals to cells, causing them to multiply. While targeted drugs are the standard treatment to block this protein, some patients develop resistance or show a low response to the medication. The researchers focused on how these drugs affect the internal "protein factories" of cancer cells, known as ribosomes. They found that the treatment causes these ribosomes to jam and crash into each other, a process called ribosome collision. This creates intense internal stress that leads the cancer cell to destroy itself. A protein named ZAK was identified as the key sensor for these collisions. The study found that ZAK plays two opposing roles depending on the environment. Under normal conditions, it assists cancer growth by connecting with certain signals. However, once drug treatment begins, it switches to a monitoring role that triggers cell death. The team verified this mechanism by analyzing cancer cells from leukemia patients. They found that using additional drugs to increase ribosome collisions significantly improved the effectiveness of the treatment. In contrast, cells with low ZAK function were more likely to resist the anticancer drugs. These findings suggest that a patient's ZAK activity levels could be used to predict how they will respond to treatment. It also opens the door for new combination therapies that could help patients who have built up a resistance to current drugs. "This research shows how important the process of a cell detecting abnormal protein synthesis and converting it into a death signal is for treatment," Professor Lim Jung-hoon said. "Since we have confirmed that ribosome collisions are the key switch that determines the death of cancer cells, we plan to expand our research to various types of cancer," Dr. Park Ju-min said. (Reference Information) Journal/Source: Leukemia Title: BCR::ABL1 tyrosine kinase inhibitors induce ribosome collisions to activate ZAK-dependent ribotoxic stress and apoptosis in chronic myeloid leukemia Link/DOI: https://bit.ly/4vIofWw 2026-04-23 15:56:37
  • Korea, Vietnam deputy prime ministers discuss expanding science and technology cooperation
    Korea, Vietnam deputy prime ministers discuss expanding science and technology cooperation South Korea and Vietnam held deputy prime minister-level talks on the sidelines of President Lee Jae-myung’s state visit to Vietnam, agreeing to develop science and technology cooperation into a new core pillar of bilateral ties. The two sides broadly discussed ways to expand practical cooperation in advanced fields including semiconductors, artificial intelligence and smart cities. According to Vietnam’s government official newspaper, Vietnamese Deputy Prime Minister Ho Quoc Dung met South Korean Deputy Prime Minister and Minister of Science and ICT Bae Kyung-hoon on the morning of the 22nd (local time) at the government headquarters in Vietnam. Vietnam’s Deputy Minister of Science and Technology Le Xuan Dinh, along with officials from the Foreign Ministry and the Prime Minister’s Office, also attended. ◆ "Science and technology is a new pillar showing early results" Ho said the visit was significant for maintaining and advancing the two countries’ comprehensive strategic partnership across all areas. He said cooperation in science and technology has produced positive early results and is emerging as a new pillar of cooperation. He said he hoped the visit would become “new momentum” to deepen ties in a more substantive and effective direction. Ho said Vietnam is focused on implementing national strategic goals for a new stage of development and wants to further strengthen cooperation with South Korea in a spirit of trust, partnership and shared development. He asked South Korea to continue exchanges of delegations at various levels, including senior officials, and to pursue balanced, sustainable and mutually beneficial cooperation. Ho also urged South Korean companies to increase new investment in Vietnam and expand their operations. He highlighted priority areas including infrastructure development, advanced electronics manufacturing, semiconductors, big data, biotechnology and smart cities. He said ministries and agencies should closely coordinate to run cooperation mechanisms efficiently and turn policy agreements into concrete projects that deliver results. ◆ South Korea: "High regard for Vietnam’s talent; focus on AI and semiconductors" Bae said the two countries held a joint science and technology committee meeting earlier this month and discussed drafting a comprehensive cooperation plan in the field. He said the meeting would provide an important foundation for expanding cooperation in a range of areas. He said many major South Korean companies “highly value Vietnam’s development potential and excellent human resources,” adding that cooperation is also expanding in areas such as agriculture, workforce training and official development assistance projects. Bae pointed to the potential of Vietnam’s young workforce and said he hoped to strengthen cooperation in key areas the South Korean government is prioritizing, including AI and the semiconductor industry. He particularly emphasized expanding the role of the Korea-Vietnam Institute of Science and Technology (VKIST). Calling VKIST a model case of bilateral cooperation, he said he hoped it would continue to develop and become a symbol of cooperation between the two countries. South Korea pledged to actively support and coordinate the efficient implementation of VKIST-related projects. The plan is to develop VKIST beyond a research facility into a hub for cooperation between companies in both countries, while also building it into a platform to jointly develop training programs in areas such as software and AI. Bae said the cooperation has already involved multiple exchanges at the ministerial and department levels, adding he was confident more concrete activities would lead to shared goals and tangible results.* This article has been translated by AI. 2026-04-23 15:54:10
  • Vitol CEO Warns Mideast War Could Cost Oil Markets 1 Billion Barrels
    Vitol CEO Warns Mideast War Could Cost Oil Markets 1 Billion Barrels The chief executive of Vitol, the world’s largest independent energy trader, warned that the fallout from the war in the Middle East could leave global crude and refined-product markets short by at least 1 billion barrels in cumulative losses. According to the Financial Times and Vitol disclosures on the 23rd, CEO Russell Hardy said at the FT Global Commodities Summit in Lausanne, Switzerland, that “600 million to 700 million barrels of supply have already disappeared, and losses could reach at least 1 billion barrels before the market recovers.” The FT reported that even if the war ended tomorrow, combined losses in crude and refined products could still reach that level as production, refining and logistics normalize. Hardy said about 12 million barrels a day of hydrocarbon supply is currently off the market, and he estimated refining volumes are down by roughly 6 million barrels a day. He said product inventories of 300 million to 400 million barrels are filling a short-term demand gap, but described them as only a temporary buffer that will ultimately need to be replenished. He also cautioned on demand. Hardy said demand has fallen by 4 million barrels a day so far and could drop further if the situation drags on, as the shock spreads from supply disruptions to slower growth and weaker consumption. A key variable is the Strait of Hormuz. The FT said Hardy believes the market impact could last longer if the blockade near the strait continues. Energy Intelligence also reported that Hardy warned a prolonged blockade would add downward pressure on global demand.* This article has been translated by AI. 2026-04-23 15:53:25