Journalist

Lee Hugh
  • Kakao Speeds Global Push With KakaoBank and KakaoPay, Linking AI and Payments
    Kakao Speeds Global Push With KakaoBank and KakaoPay, Linking AI and Payments Kakao Group is accelerating its global push by leaning on its financial affiliates as it moves to execute its next-generation finance strategy. Kakao said Wednesday that KakaoBank and KakaoPay are splitting roles overseas to strengthen the group’s financial competitiveness. The effort follows the “global fandom OS” strategy Jeong outlined earlier this year. The plan aims to expand Kakao’s global user base by combining agent artificial intelligence, entertainment intellectual property and Web3 technology. In finance, Kakao has positioned AI-driven services and the buildout of global payment infrastructure as key pillars. KakaoBank is exporting its digital finance model, focusing on Southeast Asia and Central Asia. In Indonesia, it entered the market by investing in the digital bank Superbank in partnership with Grab. In Thailand, it is working with a local partner to establish a virtual bank. More recently, it has teamed with Mongolia’s MCS Group to invest in the digital bank M Bank and to upgrade credit-scoring models, part of a broader push to spread an inclusive finance model globally. KakaoPay is expanding payment infrastructure overseas to speed its shift into a “global pay” platform. After rolling out QR payments, it introduced NFC payments to enable use at major merchants worldwide, and it is focusing on providing the same user experience abroad as in South Korea. It is also covering payments by foreign visitors in South Korea, strengthening a two-way payments ecosystem. KakaoPay recently joined the x402 Foundation, led by the Linux Foundation, to help build next-generation payment standards. It is also expanding points of contact with Circle, a global stablecoin company, as it explores ways to broaden a digital asset-based financial ecosystem. Kakao said its integrated approach across banking, payments and platforms is accelerating work on a new model that links AI, finance and payments. The company said that if “agentic finance,” in which AI takes part in financial decision-making, is combined with global payment infrastructure, changes to the existing structure of the financial industry could follow. 2026-04-23 10:21:06
  • SK hynix to Use 1c-Nanometer Process for HBM4E, Targets 2027 Mass Production
    SK hynix to Use 1c-Nanometer Process for HBM4E, Targets 2027 Mass Production SK hynix said it will apply its 1c-nanometer process to next-generation high-bandwidth memory, HBM4E, to strengthen performance competitiveness. In a conference call held after its first-quarter earnings release on the 23rd, the company said HBM4E is being developed in close consultation with customers, with sample shipments targeted for the second half of the year and mass production aimed for 2027. It added that it plans to apply the 1c-nanometer process to the core die to meet customer performance requirements. SK hynix also underscored the maturity of the process. The company said the 1c-nanometer node entered mass production in late 2025 and has already proven its performance in the market, with yields and production capability reaching stable levels. It said it will continue its technology leadership by ensuring on-time development, stable mass production and high quality through additional in-house technology work and customer validation.* This article has been translated by AI. 2026-04-23 10:17:49
  • Samsung C&T’s Homeniq Expands Smart-Home Partnership With Seohae General Construction
    Samsung C&T’s Homeniq Expands Smart-Home Partnership With Seohae General Construction Samsung C&T Corp.’s construction unit said its home-platform service, Homeniq, will expand smart-housing technology cooperation with Seohae General Construction. Samsung C&T said it signed a business agreement with Seohae on the 22nd in Seoul’s Seocho District to build “Seohae Granble by Homeniq.” Under the deal, Homeniq services will be offered first to residents of a new Seohae Granble complex in Wangil-dong, Incheon, scheduled to go on sale in June. Residents will be able to use functions including home IoT controls, reservations for community facilities, notices and maintenance-fee inquiries, visitor vehicle reservations, energy management, resident community features and shopping. The companies said they plan to continue technology exchanges across smart-housing solutions, including Homeniq, an AI-based parking service, measures to reduce inter-floor noise and an integrated energy monitoring system. Samsung C&T said it aims to broaden its home-platform ecosystem and strengthen competitiveness in housing services. Seohae General Construction develops housing complexes centered on its apartment brand Seohae Granble and its mixed-use and residential officetel brand Seohae Sky Palace. It also operates Jeju’s Arden Hill Resort and the St. John’s Hotel in Gangneung. Samsung C&T said it is expanding cooperation beyond its Raemian complexes, working with 15 builders including SK ecoplant, Hanwha Construction, Doosan Engineering & Construction, HS Hwasung, Woomi Construction, Hoban Construction and SM Group’s construction unit. The company described the Seohae agreement as part of Homeniq’s broader expansion.* This article has been translated by AI. 2026-04-23 10:17:06
  • NH NongHyup Financial Targets Seniors With 21 New Products and 100 Service Hubs
    NH NongHyup Financial Targets Seniors With 21 New Products and 100 Service Hubs NH NongHyup Financial Group is stepping up a companywide push to win senior customers, who account for more than half of its client base. The group plans to roll out 21 senior-focused products in stages and build about 100 regional senior hubs by using what it calls the country’s largest offline branch network. As major banks shrink their branch footprints, NongHyup Financial aims to use its nationwide network—reaching from city centers to remote mountain areas—to better serve seniors in underserved financial areas. According to the financial industry on the 23rd, NongHyup Financial plans to sequentially launch 21 senior-only products this year built around three themes: “health,” “assets” and “daily life.” The expansion builds on “NH All One Wonderful,” a senior-focused brand introduced in November. The group said it is tailoring solutions to issues it sees among customers preparing for a second chapter of life, including money, health and loneliness. In the second quarter, it plans to release three protection-type products, including the nonlife “Proper Treatment and 365 Caregiver Insurance” and the life “Long-Term Care Peace-of-Mind Caregiver Insurance.” NH NongHyup Bank plans to introduce “Youth Loan,” while NongHyup Capital will offer a “Senior Small Loan.” The group said it is also developing products and services to support stable cash flow after retirement. It is reviewing a reverse mortgage product and plans to add a senior re-employment linkage service to the “NH All One Bank” app. The strategy reflects the group’s customer mix. NongHyup Financial has about 12 million senior customers, more than 55% of its total. It believes its nationwide network—spanning financial affiliates as well as nonfinancial units such as supermarkets, gas stations and parcel delivery—can broaden access for seniors in smaller cities and rural and fishing communities. Local NongHyup cooperatives operate 4,894 main and branch offices, more than KB Kookmin Bank (771), Shinhan Bank (650), Hana Bank (608) and Woori Bank (656). The group views its branch count as a competitive advantage for attracting seniors and improving satisfaction, and said it could also support the government’s push for balanced regional development. NongHyup Financial is also overhauling its sales channels. In June, NH NongHyup Bank plans to set up “NH All One Wonderful Retirement Planning Consultation Desks” at 100 wealth management-focused branches nationwide. The bank plans to create senior-friendly spaces by region that combine financial counseling with links to farm experiences and cultural classes. A premium consultation area for high-net-worth senior clients will also be created inside the bank’s Royal Chamber. Nonbank affiliates are moving to expand in-person touchpoints as well. NongHyup Life Insurance and NongHyup Savings Bank plan to introduce senior-only counters in the second and third quarters, respectively, to improve offline access. A NongHyup Financial official said the group is pursuing 22 strategic tasks under seven pillars for its senior business strategy—covering customers, products and services, channels, organization, innovation, partnerships and brand. “We will go beyond simply selling financial products and present a new service model that combines finance and care,” the official said. 2026-04-23 10:16:15
  • Elysian Gangchon to Hold Children’s Day Festival on May 4
    Elysian Gangchon to Hold Children’s Day Festival on May 4 Gangwon Province’s Elysian Gangchon resort in Chuncheon will host a Children’s Day holiday festival on May 4, offering family-oriented performances, hands-on activities and prize giveaways. Elysian Gangchon said April 23 it will stage a “Children’s Day Kids Festival” across the resort, featuring stage shows, interactive experience programs and a flea market. The main performance lineup will include a magic show, bubble show and balloon art. Shows are scheduled in two sessions: the first runs for one hour starting at 11 a.m., and the second begins at 2:30 p.m. An activity zone will operate continuously from 11 a.m. to 4 p.m., with face painting and craft programs such as making a personal fan, tumbler or eco-bag, along with forest-themed crafts. The resort will also run on-site, customer-participation prize events, offering two room vouchers, three glamping vouchers, 10 swimming pool admission tickets and 10 Arabista iced Americano coupons. “We carefully prepared hands-on content where parents and children can connect and laugh together in nature for Children’s Day,” a resort official said. “We hope a day at Elysian Gangchon will be remembered as a special gift for the whole family.” The festival is open to visitors without advance reservations, though some popular programs may close early depending on on-site conditions. 2026-04-23 10:13:50
  • Trump Envoy Suggests Italy Replace Iran in 2026 World Cup, FT Reports
    Trump Envoy Suggests Italy Replace Iran in 2026 World Cup, FT Reports Donald Trump’s envoy has suggested to FIFA that Italy take Iran’s place at the 2026 World Cup in North America, according to foreign media reports. The proposal appears to be only a suggestion by a U.S. figure, and it is not known whether FIFA has formally considered it. The Financial Times reported Tuesday (local time) that Trump envoy Paolo Zampolli proposed to President Trump and FIFA President Gianni Infantino that “Italy should be put in the World Cup instead of Iran.” Zampolli told the FT, “I’m Italian, and I want to see the Azzurri at a tournament hosted by the United States,” adding that Italy is “a team worthy of four World Cup titles.” The FT said the idea also appeared aimed at repairing ties between Trump and Italian Prime Minister Giorgia Meloni. Reuters, citing the FT, reported the two had fallen out over the Iran war and Trump’s criticism of Pope Leo XIV. The chances of the proposal being adopted remain unclear. Reuters said the White House, FIFA, the Italian Football Federation (FIGC) and the Football Federation Islamic Republic of Iran (FFIRI) did not immediately respond to questions. Iran, meanwhile, reiterated it is ready to participate. The FT reported Iran issued a statement Tuesday reaffirming its intention to play, and Anadolu Agency said an Iranian government spokesperson told state broadcaster IRIB, “We have completed the necessary preparations.” Infantino has also treated Iran’s participation as a given. In a CNBC interview, he said, “Iran must come,” adding that “sport must be outside politics.” Iran is scheduled to play three group-stage matches in the United States. It previously discussed with FIFA moving the venue to Mexico instead of the United States, but that was not accepted. Italy has not qualified. Last month, it lost 4-1 on penalties to Bosnia and Herzegovina in a playoff final, missing the World Cup finals for a third straight time.* This article has been translated by AI. 2026-04-23 10:13:17
  • Construction Policy Institute Cites Gap Between Housing Supply Expectations and Reality
    Construction Policy Institute Cites Gap Between Housing Supply Expectations and Reality “Recent housing supply in South Korea is showing a gap between expectations for expanded supply and the reality, amid domestic and global economic uncertainty and growing management burdens in the construction industry.” The Korea Construction Policy Institute said that in Construction Policy Journal No. 61, published on the 23rd, which addresses structural problems in domestic housing supply and policy response directions. The issue is themed “Diagnosing the Housing Supply Situation and Proposing Construction Policy.” The institute said that while the push to expand supply to stabilize the housing market continues, the market is being shaped by concentrated demand in the Seoul metropolitan area, a heavy tilt toward apartments, rising construction costs, project delays, an increase in aging housing and shifting housing demand tied to population aging. It said those factors are increasing the need to review the overall supply foundation. The journal presents response measures across six areas: tasks to supplement housing policy under the Lee Jae-myung government, the structure of South Korea’s housing supply and implications, changes in the construction environment centered on project duration and costs, promoting modular housing, expanding small-scale housing maintenance projects and boosting senior housing. It also calls for better coordination between policies to expand housing supply and manage demand, and highlights institutional improvements for modular housing, steps to activate small-scale housing maintenance projects, and directions for supplying senior housing to respond to a super-aged society. Ko Ha-hee, a senior researcher at the institute, said in “The Current State of Domestic Housing Supply and Implications” that recent housing supply “shows a gap between expectations for expansion and reality.” Ko said the housing supply problem is a structural challenge that is difficult to solve with short-term measures alone, adding that the domestic housing market has structural features including concentration in the Seoul metropolitan area, an apartment-heavy market and greater supply volatility. Ko said future housing supply policy needs to focus on long-term structural improvements beyond short-term responses to prices. 2026-04-23 10:12:46
  • Cuccon Shares Rise Early on Expectations for New Growth Drivers
    Cuccon Shares Rise Early on Expectations for New Growth Drivers Cuccon shares rose in early trading on April 23 after a brokerage assessment pointed to clearer prospects for new growth drivers. According to the Korea Exchange, Cuccon was trading at 31,900 won as of 9:45 a.m., up 6.33% from the previous session. Earlier in the day, NH Investment & Securities said Cuccon’s stablecoin strategy is focused less on issuing coins directly and more on building a “payment infrastructure hub” that links existing financial networks with the blockchain ecosystem. The firm said Cuccon, which has offline QR payments and an ATM cash-withdrawal network, is building partnership models with digital-asset wallet companies, giving it the ability to execute real business models. NH Investment & Securities added that if stablecoins take hold as an everyday payment method, Cuccon could strengthen its position as an integrated payment platform by adding blockchain payment rails to existing card- and account-based networks. It also said the company is accelerating efforts to secure an early lead in blockchain-based stablecoin payment infrastructure in response to stablecoin legislation expected this year. The brokerage forecast this year’s revenue at 75 billion won, up 8.1% from a year earlier, and operating profit at 21.4 billion won, up 13.4%. It said the data services segment is expected to benefit as the share of lower-margin SI build projects declines, while higher-value services such as a medical “MyData” business and AI MCP products are expected to be commercialized in the second half of the year. NH Investment & Securities did not provide a separate investment rating or target price for Cuccon.* This article has been translated by AI. 2026-04-23 10:08:56
  • Democratic Party’s Cheon Jun-ho vows to pass livelihood bills in plenary session
    Democratic Party’s Cheon Jun-ho vows to pass livelihood bills in plenary session Cheon Jun-ho, acting floor leader of the Democratic Party, said April 23 that the party will convene a plenary session and move to pass pending livelihood-related bills to support the Lee Jae-myung government’s state affairs agenda. He also vowed to pursue the truth behind what he called fabricated indictments by prosecutors during the Yoon Suk Yeol administration. Speaking at a party policy coordination meeting at the National Assembly on Thursday morning, Cheon said, “With the domestic and international situation severe, the Democratic Party will do its utmost to firmly support the Lee Jae-myung government’s governance and respond without disruption to livelihood issues.” He said the plenary session scheduled for Thursday afternoon would handle “state tasks and urgent livelihood bills.” Cheon said more than 240 bills have been placed on the plenary agenda and called on the People Power Party to cooperate. “Delaying passage without any particular reason is a dereliction of duty by the National Assembly,” he said, urging lawmakers to take a broad view in processing bills “for the national interest and people’s livelihoods,” adding there were no specific issues currently driving partisan confrontation. Cheon also said hearings held by a National Assembly special committee investigating allegations of fabricated indictments by what he called the “political prosecution” under the Yoon administration had laid bare the reality of such cases. “The reality of seven major fabricated indictments carried out by Yoon Suk Yeol’s political prosecution has been revealed,” Cheon said. He claimed Yoon’s goal was “only one: removing Lee Jae-myung and erasing the Moon Jae-in administration.” Cheon singled out the Ssangbangwool North Korea remittance case, saying it was “beyond fabrication, at the level of fiction.” He said an audio recording involving Prosecutor Park Sang-yong showed it was a fabricated indictment in which prosecutors “intervened on all fronts.” Cheon alleged that prosecutors “covered it up” despite receiving a report from the Financial Supervisory Service on suspected wrongdoing by the Ssangbangwool Group, and that the result was a “stitched-together” investigation that gave Kim Seong-tae a pass while indicting Lee and people around him. He also described the case involving alleged manipulation of real estate statistics under the Moon government as a “targeted investigation” hastily put together 28 days before a general election. He called the case involving the fatal shooting of a South Korean public official in the West Sea a political retaliation case, saying it took only 43 days to move from the incident to a complaint being filed. Cheon said the special committee would continue tracking the allegations through an on-site inspection Thursday of the Financial Supervisory Service and the Board of Audit and Inspection, and through a comprehensive hearing scheduled for April 28.* This article has been translated by AI. 2026-04-23 10:08:06
  • South Korea watchdog, industry group move to curb misleading investment ads
    South Korea watchdog, industry group move to curb misleading investment ads South Korea’s financial watchdog is moving to tighten oversight of investment advertising as some promotions use misleading phrases such as “steady like monthly rent” — which can be read as guaranteeing profits — or “targeting 15% annual returns,” which highlights unrealized performance. The Financial Supervisory Service said it has begun a broad overhaul of advertising rules with the Korea Financial Investment Association to block false or exaggerated ads by financial investment firms and strengthen investor protection. The FSS and the association said on the 23rd they launched an “advertising system improvement” task force with financial investment companies and held a kickoff meeting. The group includes industry participants such as securities firms and asset managers, as well as the Korea Financial Consumer Protection Foundation, to discuss changes from a consumer-protection perspective. As stock investing by individual and institutional investors has expanded, the capital market has grown quickly and marketing competition among financial investment firms has intensified. Net stock buying by individual investors swung from 19.2 trillion won in net selling last year to 26.5 trillion won in net buying through the first quarter of this year. Regulators said some firms, amid the competition, have omitted essential information such as fees and risks or used exaggerated claims like “guaranteed profits” and “highest returns.” They also pointed to the rise of ads on social media and YouTube, including promotions using so-called “finfluencers,” and said existing rules have limits in managing them. The task force will focus on expanding the scope of ads subject to prior review, improving review procedures and strengthening internal controls at firms. Discussions include reinforcing the association-led pre-screening function and improving oversight of companies’ own advertising channels. The FSS and the association said they plan to gather views broadly from the industry and financial consumers and finalize measures in the third quarter of this year. “Financial investment company advertising should provide accurate information that helps investors make rational decisions,” said Seo Jae-wan, senior deputy governor of the FSS. “False and exaggerated advertising can undermine trust in the capital market,” he said, calling for active industry participation and stronger internal controls. 2026-04-23 10:07:10