Journalist

Lee Hugh
  • Samsung Electronics Jumps More Than 4%, Sets Record High
    Samsung Electronics Jumps More Than 4%, Sets Record High Samsung Electronics hit a record high on the 23rd. According to the Korea Exchange, shares were trading at 224,000 won as of 9:18 a.m., up 7,000 won (3.22%) from the previous session. The stock rose to an intraday record of 227,000 won shortly after the open, then pared gains to hover near 220,000 won. At the same time, SK hynix was up 20,000 won (1.64%) at 1,243,000 won. Overnight, all three major U.S. indexes closed higher. On the New York Stock Exchange, the Dow Jones Industrial Average ended up 340.65 points (0.69%) at 49,490.03. The S&P 500 gained 73.89 points (1.05%) to 7,137.90, and the Nasdaq rose 397.603 points (1.64%) to 24,657.567. Markets were buoyed after U.S. President Donald Trump said he would extend a ceasefire, citing divisions inside Iran. Optimism also grew after the New York Post reported that Trump said there could be “good news” as early as the 24th regarding a second round of talks on ending the war with Iran.* This article has been translated by AI. 2026-04-23 09:27:15
  • SK hynix says memory profitability remains strong, plans more HBM supply
    SK hynix says memory profitability remains strong, plans more HBM supply SK hynix said on a first-quarter earnings conference call on Wednesday that demand is showing signs of softening in the PC and mobile markets as higher memory prices raise cost burdens and prompt product portfolio adjustments. Even so, the company said strong server-memory demand is driving the overall market. The company highlighted structural shifts tied to the spread of artificial intelligence. “As AI expands, the importance of memory is rising and demand for high-performance memory is increasing rapidly,” SK hynix said, adding that a trend is becoming clearer in which customers prioritize securing supply over price. SK hynix also detailed its next-generation product strategy. “For HBM4, we are working closely with customers from the early stages and plan to expand volumes on an agreed schedule with products that meet the performance customers require,” it said. The company added that it is continuing to develop and supply new products across DRAM and NAND to meet increasingly diverse memory needs as AI technology evolves. 2026-04-23 09:24:04
  • SK hynix posts record 72% Q1 operating margin, widening lead over TSMC
    SK hynix posts record 72% Q1 operating margin, widening lead over TSMC SK hynix set a quarterly record with a 72% operating profit margin, far surpassing Taiwan Semiconductor Manufacturing Co., a key profitability benchmark in the chip industry, which posted a 58.1% margin. The company attributed the surge to expanded sales of high-bandwidth memory, or HBM, and a sharp rise in prices for commodity memory chips. SK hynix said in a regulatory filing on the 23rd that it posted first-quarter revenue of 52.5763 trillion won, operating profit of 37.6103 trillion won and net profit of 40.3459 trillion won. The operating margin of 72% topped the previous record of 58% in the fourth quarter of last year. The company said the figure means it earned more than 7,000 won in operating profit for every 10,000 won of products sold, a level rarely seen in manufacturing. The margin gap with foundry leader TSMC widened sharply. In the fourth quarter of last year, SK hynix led TSMC, which had a 54% operating margin, by 4 percentage points. In the first quarter, the gap expanded to 14 percentage points, the company said. Samsung Electronics, which released preliminary results earlier this month, reported a first-quarter operating margin of 43%. Its memory business is estimated to have posted margins in the 60% to 70% range, according to the report. SK hynix has climbed steadily since hitting a low of minus 67% in operating margin in the first quarter of 2023. It turned positive at 3% in the fourth quarter of that year and has risen each quarter since, it said. Quarterly revenue also topped 50 trillion won for the first time. Operating profit roughly doubled from the previous quarter, underscoring a sharp improvement in profitability. The company said demand remained strong despite the seasonal off-peak period, as AI infrastructure investment expanded. It said it boosted sales of high-value products including HBM, high-capacity server DRAM modules and enterprise SSDs, or eSSDs. Analysts cited a steep jump in commodity DRAM prices as a major driver: first-quarter contract prices for commodity DRAM rose more than 90% from the previous quarter. HBM accounts for about 30% of SK hynix’s total DRAM shipments, with the remainder largely commodity products, the report said. The earnings surge also strengthened the balance sheet. Cash and cash equivalents at the end of the first quarter rose 19.4 trillion won from the end of the previous quarter to 54.3 trillion won. Borrowings fell 2.9 trillion won to 19.3 trillion won, resulting in net cash of 35 trillion won, it said. CEO Kwak Noh-jung said at last month’s shareholders meeting that “financial soundness that enables stable investment is essential” to respond to structural demand growth and maintain competitiveness, and he set a goal of securing more than 100 trillion won in net cash. SK hynix said the uptrend could continue as memory demand broadens across DRAM and NAND with the evolution toward agentic AI, and as memory-efficiency technologies spread, improving AI service competitiveness and expanding overall service scale. On that basis, it expects favorable pricing conditions to persist for both DRAM and NAND. The company said it will keep investing to strengthen future competitiveness. For HBM, it plans to enhance execution capabilities spanning performance, yield, quality and supply stability. In DRAM, it will expand supply of LPDDR6 using the world’s first 10-nanometer-class sixth-generation (1c) process, and ramp shipments of the 192-gigabyte SOCAMM2, which began mass production this month on the same process. In NAND, it said it has begun supplying the consumer SSD, or cSSD, “PQC21,” which applies CTF-based 321-layer quad-level cell technology. It plans to respond flexibly to AI demand across the enterprise SSD market with a lineup spanning high-performance triple-level cell products and high-capacity QLC products. It also said it will strengthen competitiveness in AI data center and AI PC storage markets by leveraging synergies with Solidigm, where it has strengths in high-capacity QLC eSSDs. SK hynix expects this year’s investment to rise significantly, with spending on infrastructure preparation such as the M15X ramp-up and the Yongin cluster, as well as securing key equipment including EUV tools. “We will strategically expand our production base to proactively respond to mid- to long-term demand growth,” the company said, adding it will “secure both supply stability and financial soundness through investment that considers demand visibility.”* This article has been translated by AI. 2026-04-23 09:21:22
  • Koreas Haegung naval missile secures first export deal with Malaysia
    Korea's 'Haegung' naval missile secures first export deal with Malaysia SEOUL, April 23 (AJP) - South Korea’s domestically developed naval missile “Haegung” has been exported for the first time, with a supply contract signed with Malaysia worth about $94 million. LIG D&A said Wednesday it had signed the deal with Malaysia’s defense ministry on the sidelines of the DSA 2026 defense exhibition in Kuala Lumpur, as Malaysia’s navy moves forward with modernization efforts, opening new opportunities in the Southeast Asian market. Haegung is a ship-to-air guided missile designed to intercept incoming threats such as anti-ship missiles and aircraft. Development of the missile began in 2011 under the supervision of the Agency for Defense Development and was completed in 2018. Mass production began in 2019, with deployment on South Korean naval vessels starting in 2021. The export marks a significant milestone for South Korea’s defense industry, expanding its export footprint beyond land-based air defense systems such as the Cheongung-II, which has secured major deals in the Middle East, into the naval missile sector. Unlike Cheongung, which is designed to intercept high-altitude targets, Haegung is optimized to counter low-altitude threats approaching naval vessels. It is equipped with advanced technologies, including a radio frequency radar seeker capable of detecting distant targets and a dual-mode seeker that enables precise tracking by detecting heat signatures. Under the deal, the missiles will be installed on three offshore patrol vessels operated by the Malaysian navy. The vessels are being built by Turkish defense firm STM. Separately, LIG D&A is also seeking to expand into the U.S. market, showcasing its guided rocket system “Bigung” at a maritime defense exhibition in Maryland. The system drew attention from U.S. military officials after achieving a perfect hit rate in a live-fire test conducted near Hawaii in July 2024. A company official said, “We will continue to expand our exports, building on the success of Cheongung-II in the Middle East and the latest Haegung deal in Southeast Asia, while also pursuing opportunities in the U.S. market.” 2026-04-23 09:19:40
  • Airbnb Extends CORTIS ‘Green vs. Red’ Pop-Up in Seoul for ‘REDRED’ Release
    Airbnb Extends CORTIS ‘Green vs. Red’ Pop-Up in Seoul for ‘REDRED’ Release Airbnb said Wednesday it will extend operations of its “Airbnb & CORTIS Green vs. Red Secret Space Pop-Up,” marking the release of “REDRED,” the title track from the group CORTIS’ second mini album. The pop-up will run May 1-7 in Seoul. Reservations open at noon Wednesday. ◆ Two contrasting rooms built around CORTIS’ identity Airbnb said the event was designed to bring the message of “REDRED” into a physical space so fans can experience the group’s musical world firsthand. The venue is split into two opposing concepts reflecting CORTIS’ creative process. The “Red” room features neon lighting and red walls for an intense, high-energy feel. The “Green” room uses green-toned walls, an arched photo wall and softer lighting for a more emotional mood. Objects and details inspired by the members’ actual studio were placed throughout, Airbnb said. Interactive programs include collecting customized card keys and keycaps, a mailroom with a preference-based bingo game, and a CORTIS crossword puzzle solved with UV light. CORTIS members will not appear at the site, and some programs, including a paint zone, will not operate. ◆ Limited giveaway of unreleased photos for up to 1,000 people Airbnb said it will offer a special benefit for pop-up visitors and Airbnb guests: a “Square Pic” souvenir set featuring six unreleased CORTIS photos. Eligible recipients are pop-up participants or guests who book an Airbnb stay in South Korea between April 23 and May 7. The “Square Pic” can be picked up only at the pop-up site. Detailed pickup instructions will be posted April 30 on Airbnb’s official social media channels, the company said. CORTIS said, “We put our honest selves into the title track ‘REDRED,’” adding that the partnership with Airbnb made it possible to create a space where fans can experience the group’s music in person. Seo Ga-yeon, Airbnb Korea’s country manager, said K-pop is “one of the biggest factors” in travel decisions, but “what keeps travelers staying is the appeal of the city itself.” She said the collaboration aims to introduce South Korea’s “lively and dynamic culture” to the world. Reservations are available through Airbnb’s official website starting at noon Wednesday, Korea time. Airbnb said the pop-up can accommodate more than 1,000 participants but may close early. 2026-04-23 09:17:41
  • Hyundai Casper Electric Tops Auto Bild’s Small EV Comparison in Germany
    Hyundai Casper Electric Tops Auto Bild’s Small EV Comparison in Germany Hyundai Motor said on 23 that its Casper Electric (Inster) won a small electric vehicle comparison test by Germany’s automotive magazine Auto Bild, finishing first in every category. Auto Bild scored the vehicles on a 800-point system across seven areas: body, convenience, powertrain, driving performance, connectivity, environmental impact and cost efficiency. The Casper Electric led all seven categories and scored 558 points, well ahead of the BYD Dolphin Surf (503) and the Citroen e-C3 (501). Auto Bild cited the Casper Electric’s strong power-consumption efficiency as a key advantage in the powertrain category. In Auto Bild’s real-world driving test, the Casper Electric posted an average measured efficiency of 6.71 kilometers per kilowatt-hour, about 20% to 30% higher than the e-C3 (5.49 km/kWh) and Dolphin Surf (5.10 km/kWh). Based on that measured consumption, its calculated real-world range was 308 kilometers, compared with 241 kilometers for the e-C3 and 253 kilometers for the Dolphin Surf. Hyundai also pointed to space use as a differentiator. In the body category’s versatility assessment, the Casper Electric scored 8 points, while the two rivals each scored 2. Auto Bild credited features including a sliding second-row seat and a fully folding front passenger seat, which allow the cabin to be reconfigured for passengers or cargo. The Casper Electric’s braking distance from 100 kph to a stop was 35.8 meters, up to about 3 meters shorter than competing models, Hyundai said. Combined with precise steering, it earned the top score in the driving-performance category. Hyundai said the Casper Electric sold 9,447 units in Europe’s A-segment EV market in the first quarter, up 66% from a year earlier, keeping it among the segment’s leaders. “It is meaningful that the model not only ranked first overall, but also placed first in every category,” a Hyundai Motor official said. The Casper Electric has also won several awards, including the 2026 U.K. TopGear Awards city car of the year, the 2025 World Car Awards world electric vehicle of the year, the 2025 Germany Golden Steering Wheel award for best car under 25,000 euros, and the 2025 U.K. What Car? Awards best small electric city car.* This article has been translated by AI. 2026-04-23 09:16:56
  • Barun Law Firm, KMAC sign MOU on energy and infrastructure advisory work
    Barun Law Firm, KMAC sign MOU on energy and infrastructure advisory work Barun Law LLC said it signed a memorandum of understanding with Korea Management Association Consulting, or KMAC, on April 22 to cooperate on advisory work in the energy and infrastructure sector. Barun is led by managing partners Lee Dong-hoon, Lee Young-hee and Kim Do-hyeong. KMAC is led by CEO Han Su-hee. The agreement comes as major tasks in the sector — including functional restructuring of the five power generation companies, rail-sector restructuring, responses to rules affecting nuclear power and renewable energy, and overseas expansion of energy and infrastructure projects — increasingly require combined legal and institutional reviews alongside management strategy, organizational operations and financial feasibility assessments. The two organizations said they aim to combine Barun’s legal expertise in energy and infrastructure with KMAC’s management consulting capabilities to provide integrated solutions for complex assignments that are difficult for a single institution to handle alone. KMAC said it participates in designing energy policy, including carbon neutrality, hydrogen energy, power generation and nuclear power, and provides consulting across national infrastructure such as transportation, aviation, ports and smart cities. Barun said it has advised across the sector, from conventional generation such as gas combined-cycle, cogeneration, nuclear and hydropower to renewables including solar, wind, BESS (battery energy storage systems) and clean hydrogen. It also cited experience in public-private partnership projects involving roads, railways and airports, as well as overseas energy and infrastructure investment and development projects (IPP). The firm said its work spans the full project life cycle, from contract structuring at procurement and bidding to regulatory responses during execution and litigation or arbitration when disputes arise. Under the MOU, the two sides plan cooperation in four areas: jointly identifying new business opportunities and joining consortia; building a business model for integrated strategy, organizational and legal advisory services; cross-selling to existing clients; and holding joint seminars and forums on energy and infrastructure issues and publishing policy reports. Lee said regulatory compliance and the predictability of legal risks are key factors that can determine success or failure in energy and infrastructure projects. He said Barun will combine its advisory experience in renewables, PPPs and overseas projects with KMAC’s strategic consulting to help clients manage complex risks in advance and support new business opportunities. Han said clients in a rapidly changing energy industry want comprehensive solutions that integrate management strategy with legal risk management, rather than fragmented advice. He said KMAC’s industry expertise and Barun’s legal capabilities will be combined to set a new business standard for the energy and infrastructure market. Barun said it plans to further strengthen its integrated advisory system through close cooperation with KMAC and provide more specialized, practical services to a range of clients, including public and private project owners as well as investors and project developers. * This article has been translated by AI. 2026-04-23 09:16:08
  • China Piracy Hits MBC Drama The Grand Prince’s Wife in the 21st Century, Starring IU and Byeon Woo-seok
    China Piracy Hits MBC Drama 'The Grand Prince’s Wife in the 21st Century,' Starring IU and Byeon Woo-seok Illegal distribution of South Korean content continues in China. A page for MBC’s Friday-Saturday drama ‘The Grand Prince’s Wife in the 21st Century’ was recently created on Douban, China’s largest review site. As of April 23, about 10,000 users had already taken part in star ratings, and roughly 4,000 reviews had been posted. Disney+ is not officially available in China, suggesting viewers watched the series through illegal streams before leaving reviews. Seo Kyoung-duk, a professor at Sungshin Women’s University, said free streaming sites are easy to find by searching for the drama on Baidu, China’s largest portal. “Illegal viewing has become routine in China,” Seo said, adding that what is “even more shocking” is that people “don’t feel any shame.” Seo said Chinese authorities should step in and “actively inform” the public about the problem of illegal viewing and take steps to prevent a repeat. The drama, starring IU and Byeon Woo-seok, is set in a 21st-century South Korea under a constitutional monarchy. It follows a romance between a wealthy conglomerate heiress frustrated by her commoner status and a king’s son saddened by having nothing, as they try to break through social barriers. * This article has been translated by AI. 2026-04-23 09:15:16
  • U.S. Navy Secretary John Phelan resigns amid Iran war; Pentagon says effective immediately
    U.S. Navy Secretary John Phelan resigns amid Iran war; Pentagon says effective immediately U.S. Navy Secretary John Phelan resigned on April 22, the Pentagon said. Sean Parnell, the Pentagon’s chief spokesperson, wrote on X that Phelan is leaving the administration and that the resignation is effective immediately. Parnell, speaking on behalf of the secretary and deputy secretary of defense, thanked Phelan for his service to the department and the Navy and wished him well. He did not give a reason for the resignation. Navy Undersecretary Hung Cao will serve as acting secretary. Cao is a retired service member who spent more than 20 years in the Navy, including deployments to combat zones. The Navy secretary is the civilian head responsible for the training, equipping and administration of the Navy and Marine Corps. The post is filled through a presidential nomination and Senate confirmation and reports directly to the defense secretary. Phelan is not a military commander, but he is a key member of the Pentagon’s leadership. His departure drew attention because it comes while the war is underway and as the Navy he led is spearheading a maritime blockade of Iran under orders from President Donald Trump. The Associated Press called the resignation sudden, saying it came a day after Phelan delivered a speech at the Navy’s annual conference. Some observers have suggested the move could be part of a broader leadership shake-up at the Pentagon, coming about 20 days after Defense Secretary Pete Hegseth fired Army Chief of Staff Randy George on April 2. There has also been speculation that Phelan had clashed with Hegseth. The Wall Street Journal reported that last fall Phelan bypassed Hegseth to propose a modern warship concept directly to President Trump, which the defense secretary reportedly disliked.* This article has been translated by AI. 2026-04-23 09:12:29
  • Tesla Q1 Revenue Misses Estimates; Profit, Free Cash Flow Beat as AI Spending Rises
    Tesla Q1 Revenue Misses Estimates; Profit, Free Cash Flow Beat as AI Spending Rises Tesla said first-quarter revenue fell short of market expectations, while operating profit and free cash flow came in stronger than forecast. With its core electric-vehicle business still slowing, the company said it plans to expand investment in artificial intelligence, self-driving technology, robots and semiconductors. In its first-quarter report released Tuesday local time, Tesla posted revenue of $22.39 billion, below the market estimate of $22.6 billion. Operating profit was $941 million, with an operating margin of 4.2%. Free cash flow totaled $1.44 billion, remaining positive. Earlier sales results had disappointed. Tesla delivered 358,023 vehicles in the first quarter, up 6.3% from a year earlier but below Wall Street expectations. Reuters reported that the end of tax incentives and intensifying competition in lower-priced EVs have weighed on demand. After the earnings release, attention shifted to Tesla’s spending plans. The company raised its 2026 capital-expenditure outlook to more than $25 billion and said initial production of its self-driving taxi, the “Cybercab,” will begin this year. As the EV business slows, Tesla pointed to energy storage as a growth driver. Tesla also warned that as large-scale investment centered on AI and robotics accelerates, free cash flow could turn negative again over the remainder of the year. The company is also moving to expand its robotaxi business. It said the service, launched last year in Austin, Texas, has recently been extended to Dallas and Houston, and that it is preparing to expand to five additional cities in Arizona, Florida and Nevada.* This article has been translated by AI. 2026-04-23 09:11:59