Journalist
Lee Hugh
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Hyundai Unveils New Staria Electric and Limousine Models for Premium MPV Push Hyundai Motor’s Staria is moving further upmarket with an electric version and a top-end limousine trim, as the automaker signals a new push in the multipurpose vehicle market. Hyundai on April 21 unveiled the electrified “The New Staria Electric” and the flagship “The New Staria Limousine” at a media gallery event at Hyundai Motorstudio Seoul. The updated Staria keeps a rounded profile with sharper lines. Hyundai said it applied a “seamless” design, adding gold garnish and a black emblem to strengthen a premium look. A long, horizontal front lamp design is integrated into the body for a cleaner face. Offered with hybrid and EV powertrains, the limousine model focuses on what Hyundai called a “premium space,” centered on second-row comfort. The second-row executive seats use semi-aniline leather and include features such as massage and multi-angle adjustments. A 17.3-inch rear display is fitted for passengers to watch content while on the move. Yoo Byung-joo, a senior researcher in charge of product at Hyundai, said the limousine “focused on improving convenience centered on second-row VIP passengers,” adding that the company used top-grade leather and a neck-support headrest to improve seating comfort. The new EV model features charging ports at both the front and rear. It carries an 84.0-kWh fourth-generation battery, with a maximum range of 387 kilometers on a single charge. Hyundai said the EV delivers 160 kW of maximum power and 350 Nm of maximum torque. Using an 800-volt ultra-fast charging system, it can charge from 10% to 80% in about 20 minutes. The model also supports vehicle-to-load, both inside and outside the cabin, to power electronic devices. The hybrid model is based on a 1.6-liter turbo hybrid engine and is rated at 180 horsepower, with maximum torque of 27.0 kgf·m and fuel economy of 12.3 kilometers per liter. Hyundai said it also worked to improve ride comfort and cabin quiet expected of a premium multi-passenger vehicle. Aluminum components were applied to the front and rear suspension. The second-row door glass uses double-laminated sound-insulating glass, and the body thickness around the rear shock absorber mounting was reinforced to better reduce road vibration. Lee Cheol-min, a managing director in Hyundai’s domestic marketing division, said the New Staria is “not simply a model that added an electrified powertrain,” but one that shows the “possibilities of premium” in the MPV market. He said Hyundai aimed to make each moment of travel for work “a comfortable and meaningful space.”* This article has been translated by AI. 2026-04-23 08:35:13 -
Hyundai Motor to Shift China Strategy to NEVs, Launch Ioniq Brand "In China, For China, To Global." (Jose Munoz, president of Hyundai Motor) Hyundai Motor Group is launching what it calls a second push in China, 24 years after entering the market, aiming to move beyond its image for value-priced gasoline cars and reposition itself around electric vehicles and other eco-friendly models. The group set a goal of building a China-tailored lineup of six new EV models by 2030 and reaching annual sales of 500,000 vehicles in the country. Hyundai Motor Group said Thursday it will formally declare a shift to a new-energy vehicle (NEV) brand at the 2026 Beijing International Motor Show, known as Auto China 2026, which opens April 24 local time. It will also unveil the first China mass-production model under its Ioniq brand. The move marks the group’s biggest local change since Hyundai Motor and Beijing Automotive established the 50-50 joint venture Beijing Hyundai in October 2002. The group is seeking to regain ground after its China business shrank sharply following the THAAD dispute. Up to 2016, Hyundai brands posted double-digit combined market share, with Beijing Hyundai at 6.5% and Dongfeng Yueda Kia at 3.7%, and were considered part of the market’s “big three” alongside Volkswagen and General Motors. The downturn was compounded by a boycott of South Korean products and by Hyundai’s slower response to rapid advances in China’s EV and autonomous-driving sectors. Over the past decade, China’s auto market has shifted from internal-combustion vehicles to NEVs. EV makers such as BYD and Geely have moved into the leading group, and technology companies including Huawei and Xiaomi have entered the auto industry through electronics and semiconductors. According to a survey by the China Automotive Research Institute, NEVs account for 54% of new-vehicle sales in China. Hyundai said localization is its top priority, beyond simply introducing new EVs. It has applied autonomous-driving technology developed by Chinese IT company Momenta to new models and plans to build an “Ioniq ecosystem” combining services reflecting local preferences and charging infrastructure. Hyundai also plans to launch an extended-range electric vehicle, or EREV, in 2027, citing China’s vast geography and charging conditions. The company described the EREV as running on battery power in normal use, while using fuel to generate electricity for the motor on long-distance drives. The group also sees opportunity in China’s oversupply and shifting government policies. Under China’s 15th five-year plan for 2026-2030, the government narrowed support by classifying only “intelligent connected NEVs” as an emerging industry. A subsidy program that pays consumers to replace older vehicles with NEVs, known as “yigu huanxin,” was also changed from a fixed-amount payment to a percentage-based system, raising the likelihood that buyers will shift toward AI-enabled smart NEVs or premium brands. With local brands strong in mass-market EVs, Hyundai said it aims to build an image as a premium AI smart-car brand. Kia is also accelerating its electrification push in China. Kia is mass-producing the EV5 at its Yancheng plant and exporting it not only within China but also to Central and South America and Australia, after unveiling the model at the Chengdu Motor Show in August 2023. Hyundai Motor Group is also expanding cooperation with Chinese companies in future industries. In January, group executives discussed broad cooperation with major firms in batteries, energy and autos, including CATL, Sinopec and Yueda Group, to review technology trends in China and refine mid- to long-term strategy. With CATL, the group exchanged views on next-generation battery technologies such as cell-to-pack (CTP) and ways to build a stable supply chain. With Sinopec, it agreed to cooperate on building a hydrogen ecosystem centered on its hydrogen fuel-cell system unit in Guangzhou, HTWO Guangzhou. With Kia’s local joint-venture partner Yueda Group, it agreed to pursue a sustainable business structure spanning batteries, hydrogen and future mobility beyond finished-vehicle sales. 2026-04-23 08:33:59 -
KOTRA Offers Real-Time Logistics Updates, Expands Support as Middle East War Disrupts Shipping As global logistics disruptions from the Middle East war drag on, the Korea Trade-Investment Promotion Agency, known as KOTRA, said it is stepping up real-time information sharing and cost support for exporters. The agency said it is focusing on easing sharply higher shipping costs driven by port disruptions and longer detours, while helping companies restore blocked routes quickly. KOTRA said it is continuously monitoring logistics conditions through its 13 offices in the Middle East and providing companies with real-time updates on alternative ports and rerouted shipping options. With more cases of existing routes being cut off due to constraints in the Strait of Hormuz, KOTRA said it is working with local logistics firms to propose alternatives and is also handling urgent needs such as re-shipping cargo halted in transit and returning pharmaceuticals. Logistics-related difficulties are rising quickly. Of 502 consultations tied to the Middle East war received from early March through April 20, 156 — 31% — involved logistics issues. KOTRA cited port waiting times, higher costs from detours and cargo returns as key factors. KOTRA said it has expanded financial support, raising the cap for assistance through overseas joint logistics centers to as much as 24 million won and increasing the limit for international shipping vouchers to 75 million won. It also added eligible items including war-related surcharges, return costs and detour shipping expenses, and said it is coordinating transport support with EMS, DHL, Samsung SDS and Taewoong Logistics, among others. A KOTRA official said freight-rate management is critical because costs can vary widely when using alternative ports, adding that companies should work with major logistics providers to minimize delays.* This article has been translated by AI. 2026-04-23 08:27:58 -
WIRobotics launches WIM Premium subscription to update WIM S wearable walking robot #At a WIM walking exercise center in Songpa-gu, Seoul, a reporter strapped on a waist belt connected to leg supports and headed toward Olympic Park outside the facility. After pressing “Air Mode” and taking a few slow steps, the device felt as if it gently nudged the body forward. Within several steps, walking became easier, and when the pace increased slightly, the stride rhythm stayed steady. On an uphill section, switching to “Hiking Mode” made climbing feel more comfortable. Rather than a heavy machine, it was a 1.6-kilogram wearable that moved with the user’s gait. The reporter took part on April 13 in a hands-on event marking WIRobotics’ launch of “WIM Premium,” a subscription service based on its WIM S wearable walking-assist robot. Instead of a one-time purchase, the company said it will keep updating functions to match a user’s walking data and condition, similar to smartphone operating system updates. WIM Premium offers three subscription modes: △Balance (left-right) △Soft △Slow Jogging. The most notable feature was “Balance Mode,” which analyzes differences between left and right steps and applies different levels of assistance. With stronger support on one leg, the effect was clear. The company expects it to help users who put more weight on one side during long walks or whose gait balance has deteriorated. In “Soft Mode,” the focus shifts to reducing impact when the foot hits the ground. Even with a longer stride, the burden on knees and ankles felt lower. The company said the mode is suited for long walks, light trekking and middle-aged users who feel joint strain. “Slow Jogging Mode” is designed to help users keep a steady rhythm without running fast. In the demonstration, a natural tempo between walking and running was maintained. It may appeal to office workers and older adults who want more exercise but find running hard on the knees and joints. While earlier wearable robots were centered on rehabilitation therapy or industrial sites, WIRobotics is aiming this service at everyday consumers. Existing users can access new functions through software updates by paying a monthly subscription fee, without replacing the device. The company is positioning the robot less as something to buy and more as functions to use. The company is also betting on demand as South Korea ages rapidly and interest grows in extending healthy life expectancy and home training. With rising attention to senior health care such as maintaining walking ability and supporting muscle strength, the market for daily-use wearable robots could expand. Potential settings include rehabilitation centers, senior living communities and fitness centers. Barriers remain. Wearable robots are still unfamiliar to many consumers, and purchase prices can run into several million won. Wearing a device to walk may also feel unnatural. Still, based on the hands-on test, WIM Premium appeared likely to find demand among seniors who need walking assistance, evolving toward a personalized mobility aid that adapts to walking habits and physical condition. WIRobotics said it will continue upgrading functions using user walking data and plans to expand applications beyond daily walking assistance to rehabilitation exercise, outdoor activity and support for workers in industrial settings. Lee Yeon-baek, WIRobotics’ co-CEO, said everyday movement such as walking varies widely by individual, making it difficult for a single piece of hardware to meet every user’s needs. “WIM Premium is the starting point of a robotics-as-a-service (RaaS) model that continuously improves assistance methods based on user data,” he said. He added that wearable robots will develop into integrated services that include devices and software, updates and maintenance. * This article has been translated by AI. 2026-04-23 08:24:40 -
Crypto Prices Rise After Trump Extends Iran Ceasefire; Bitcoin Nears $79,000 Donald Trump, the U.S. president, extended the ceasefire deadline with Iran, lifting global markets and pushing cryptocurrencies higher. Bitcoin was trading at $78,553 as of 8 a.m. Thursday, up 4.18% from a day earlier, according to CoinMarketCap. Major altcoins also gained. Solana rose 2.66% to $87.43, ether climbed 3.88% to $2,396.88, and XRP added 1.27% to $1.43. Investor sentiment improved after Trump said Wednesday that he had received a “unified negotiating proposal” from the Iranian government and would extend the ceasefire until talks conclude in either direction, easing geopolitical tensions. The rally also appeared to draw support from Strategy, the publicly traded company with the world’s largest bitcoin holdings, which said it bought an additional $2.54 billion worth of bitcoin from April 12 to 19 local time. The purchase was its third-largest single buy on record. Some in the market say a move above $79,000 and a break past $80,000 could trigger a short squeeze — a surge driven by short sellers buying to cut losses — and set off a broader rally. In South Korea, bitcoin was trading at about 116.32 million won ($78,621) on Bithumb as of 8 a.m., down 0.4% from the previous day. The so-called kimchi premium, which reflects higher domestic prices than overseas markets, stood at about 0.15%. 2026-04-23 08:24:15 -
Finance Minister Koo, Bank of Korea Gov. Shin pledge closer policy coordination Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol and Bank of Korea Gov. Shin Hyun-song met for the first time on the 23rd and reaffirmed their commitment to coordinate monetary and fiscal policy. Before their breakfast meeting at the Korea Federation of Banks building in central Seoul, Koo said it was important for the Ministry of Economy and Finance and the central bank to “combine policies organically” and communicate closely. He said they would meet and consult as needed. The meeting came two days after Shin took office, the earliest such meeting on record between a deputy prime minister and a Bank of Korea governor. It was arranged to congratulate Shin and exchange greetings. Koo said the economy has faced difficulties since the second half of last year and that Shin’s arrival would be a major help. He said volatility remains high and that close consultations through coordination with monetary policy are essential. With financial and foreign-exchange markets volatile, Koo said the exchange rate is an issue the ministry and the central bank must address more closely. He also asked the central bank to share ideas on structural reform and boosting growth potential, noting its research capacity. Shin said uncertainty remains high as the situation in the Middle East continues, and that the Bank of Korea would respond actively on market stability and foreign-exchange issues. He said it was important to balance trade-offs between growth and inflation. He added that he would stay in frequent contact not only on immediate issues but also on long-term structural challenges and institutional improvements. 2026-04-23 08:19:46 -
Hana Securities Keeps PharmaResearch Target, Sees Strong Cosmetics Growth at Home and Abroad Hana Securities said Wednesday it expects PharmaResearch’s medical-device exports to rebound after bottoming out in the first quarter, while both domestic and overseas cosmetics sales post strong growth. The brokerage maintained its 480,000-won target price and “buy” rating. In a report, analyst Kim Da-hye said the first quarter likely marked the low point for the year due to softer demand in China and Japan and shipping disruptions in the Middle East. She added that demand adjustments tied to tighter Chinese regulations were already reflected in the company’s business plan, and that Middle East growth targets were conservative and should not affect whether guidance is met. Kim said additional shipments to European distributor VIVACY were proceeding as planned, reaching a cumulative 6 billion won in April and projected to total about 12 billion won for the year. She estimated cosmetics domestic sales at 12.4 billion won, up 17% from a year earlier, and exports at 25.5 billion won, up 48%. She said Rejuran Cosmetics entered about 400 Sephora offline stores in the United States and China in March and signed a distribution agreement with Silicon2. She cited participation in a Coachella booth in April and a European pop-up event in May as factors supporting expectations for strong cosmetics export growth this year through increased consumer exposure. Kim said competition from ECM skin boosters is likely to split demand among domestic consumers, but argued Rejuran could recover its valuation multiple because it is the only product among polynucleotide, or PN, injectables. She said ECM skin boosters face intensifying competition, while Rejuran holds a dominant position in PN injectables. She said that, as PharmaResearch recovered its multiple during the high-growth period of Juvelook, differences in efficacy stemming from a different mechanism than ECM skin boosters could support Rejuran regaining ground. She forecast this year’s revenue at 666.5 billion won, up 24% from a year earlier, and operating profit at 274.3 billion won, up 27%.* This article has been translated by AI. 2026-04-23 08:18:59 -
South Korea’s Q1 GDP Grows 1.7% as Semiconductor-Led Exports Jump South Korea’s economy grew 1.7% in the first quarter from the previous quarter, helped by a surge in exports led by semiconductors. The Bank of Korea said on the 23rd that real gross domestic product rose 1.7% in the January-March period from the prior quarter, based on a preliminary estimate. The figure exceeded the central bank’s February forecast of 0.9%. Exports climbed 5.1%, driven by IT products including semiconductors. Imports rose 3.0% as purchases of machinery and equipment and automobiles increased. Private consumption edged up 0.% on higher spending on goods such as clothing, while government consumption rose 0.1% on higher operating expenditures. Construction investment increased 2.8% as both building and civil engineering work expanded, though it was down 1.4% from a year earlier. Facility investment rose 4.8% as both machinery and transport equipment increased. Exports led growth. Domestic demand, including consumption and investment, contributed 0.6 percentage points to first-quarter growth, while net exports contributed 1.1 percentage points. By industry, electricity, gas and water utilities rose 4.5%, led by water supply and raw-material recycling. Agriculture, forestry and fisheries gained 4.1%, led by crop cultivation. Manufacturing rose 3.9%, driven by computers, electronic and optical products. Services increased 0.4%, led by finance and insurance as well as culture and other sectors. Real gross domestic income, a measure of households’ real purchasing power, rose 7.5%, outpacing the 1.7% increase in real GDP.* This article has been translated by AI. 2026-04-23 08:18:15 -
Wall Street Rallies on Extended Iran Ceasefire, Earnings Optimism; S&P 500 and Nasdaq Hit Records President Donald Trump’s extension of a ceasefire with Iran, combined with optimism about corporate earnings, helped lift U.S. stocks to a strong finish on April 22. While Middle East tensions have not fully eased, investors focused more on the ceasefire holding and signs of improving profits than on the immediate risk of a wider war. The Dow Jones Industrial Average rose 340.65 points, or 0.69%, to 49,490.03. The S&P 500 gained 73.89 points, or 1.05%, to 7,137.90, and the Nasdaq climbed 397.60 points, or 1.64%, to 24,657.57. The S&P 500 and Nasdaq both closed at record highs. One driver was the ceasefire extension. Reuters reported that after Pakistan-mediated talks, Trump extended the ceasefire until Iran’s proposal is submitted and consultations are completed. The move did not mean a peace deal was imminent. With the U.S. blockade on Iran continuing and Iran maintaining a hard-line response, markets priced in some chance of de-escalation but did not fully dismiss regional risks. Earnings expectations also supported sentiment. LSEG estimates U.S. companies’ first-quarter profit growth at about 14%. Technology and semiconductor shares led the advance. Micron Technology jumped 8.48%, and the S&P 500 technology sector index rose 2.31%. The Philadelphia Semiconductor Index extended its winning streak to 16 sessions. GE Vernova gained after raising its annual revenue outlook, and Boeing rose after reporting a smaller-than-expected loss. United Airlines fell 5.58% on concerns tied to its earnings outlook. Middle East uncertainty remained. The AP reported that Iran fired on three vessels in the Strait of Hormuz and seized two. With the U.S. maintaining its blockade and maritime clashes adding to tensions, uncertainty around negotiations increased again. Oil prices, trading around $100 a barrel, also remained a potential source of stock-market volatility. Stephen Massocca, a senior vice president at Wedbush Securities, told Reuters that “corporate earnings have been good so far,” adding that “if the war drags on, that trend could weaken, but there are still many undervalued stocks in the market.”* This article has been translated by AI. 2026-04-23 08:15:19 -
UPDATE: Korea's Q1 GDP strongest in more than five years on hot chip demand *Updated with additional information and market response SEOUL, April 23 (AJP) — South Korea’s economy grew at the fastest pace in more than five years in the first quarter, rebounding sharply from a contraction in the previous three-month period, as feverish demand for semiconductors powering the artificial intelligence boom fueled exports and investment. According to the Bank of Korea, gross domestic product expanded 1.7 percent on quarter in the January–March period, marking the strongest growth since a 2.2 percent gain in the third quarter of 2020. The rebound follows a 0.3 percent contraction in the fourth quarter of last year, when a slump in construction investment weighed on overall activity. The KOSPI heavily led by chip stocks hit new heights, climbing above 6,500 mark by gaining 1.7 percent upon opening thanks to stronger-than-expected growth data and SK hynix earnings report. The Korean won also strengthened, with the dollar at 1,478.20, down 1.3 from overnight. Exports surged 5.1 percent on quarter, led by semiconductors and IT products, as global demand for high-performance memory chips used in AI servers and data centers remained robust. Semiconductor exports have been soaring at triple-digit rates in recent months amid the AI investment boom, underscoring their role as the economy’s main growth engine. Facility investment rose 4.8 percent as companies ramped up spending on machinery and transportation equipment to expand production capacity, particularly in chipmaking and related industries. Construction investment, long a drag on growth, also showed signs of recovery, rising 2.8 percent on quarter, supported by base effects and a modest pickup in both building construction and civil engineering projects. A broad upward trend was also observed across various sectors. Manufacturing GDP, the backbone of the Korean economy, climbed 3.9 percent, on brisk activity on the assembly lines for computers, electronics, and optical instruments. This marks the first time the manufacturing sector has surpassed the 3 percent growth threshold since the first quarter of 2022, aided by the semiconductor boom and a base effect following a 1.5 percent decline in the previous quarter. Construction GDP also rose 3.9 percent, ending a period of stagnation or decline. It is the first time since the first quarter of 2024 that the construction sector has recorded a growth rate above 1 percent. The agriculture, forestry, and fisheries sector increased 4.1 percent, led by crop production, marking two consecutive quarters of growth. The domestic demand, however, remained fragile. The services sector added 0.4 percent and private consumption 0.5 percent. Real gross domestic income (GDI), which reflects actual purchasing power by factoring in terms of trade, recorded a steep 7.5 percent jump - the largest increase in 38 years, since the 8 percent rise seen in the first quarter of 1988. The surge is attributed to a significant improvement in the terms of trade, as export prices and volumes spiked by 28.7 percent and 23 percent in March - also driven by chips. 2026-04-23 08:09:19