Journalist
Lee Hugh
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South Korea to Subsidize Up to 2 Percentage Points of Loan Interest for Steel, Aluminum and Copper Firms South Korea’s Ministry of Trade, Industry and Energy said Tuesday it will subsidize up to 2 percentage points of loan interest through the end of next year for companies in steel, aluminum and copper, as well as related derivative products, to ease management burdens amid shifts in the global trade environment. The ministry said export conditions have worsened and financing costs have risen as major countries strengthen protectionist measures. On April 21 (local time), aluminum and copper futures on the London Metal Exchange closed at $3,532 per ton and $6.04 per ton, up 49.5% and 26.2% from a year earlier, the ministry said. To reduce financial costs and support business stability, the ministry said it signed agreements with five financial institutions, including Woori Bank, KB Kookmin Bank and Shinhan Bank, to create new loan products eligible for interest subsidies. The program targets small and midsize companies with export performance in steel, aluminum, copper and related derivatives. It will cover part of the interest on loans used for facility investment, mergers and acquisitions, research and development, or working capital. The loan limit is up to 10 billion won per company. Small businesses can receive support equal to 2 percentage points of interest, while midsize firms can receive 1.5 percentage points, through the end of next year. Applications will be accepted from Tuesday through May 21. The ministry said it will select recommended companies after evaluating submissions, followed by reviews by participating lenders before final loans are issued.* This article has been translated by AI. 2026-04-22 11:03:45 -
South Korea Industry Ministry Conducts Joint Safety Inspections at Mines South Korea’s Ministry of Trade, Industry and Energy said Tuesday it carried out intensive safety inspections of vulnerable facilities at mines with a joint public-private inspection team. The team, made up of private-sector mining experts and officials from the ministry and the Korea Mine Rehabilitation and Mineral Resources Corp., checked underground work sites considered vulnerable and aging mining facilities. Inspectors also reviewed drainage systems and other potential hazards, the ministry said. The annual inspections are intended to identify and remove risks in advance at facilities seen as prone to disasters or accidents. The ministry said it plans to conduct two months of joint inspections through June 19, focusing on resource facilities including national critical infrastructure with significant potential social impact. Kim Jong-cheol, the ministry’s director general for resource industry policy, said domestic mineral resources have become more important than ever as a key foundation for ensuring continuity in core national industries. He urged site managers to strengthen checks of vulnerable facilities and to communicate closely with related agencies, including mine safety offices and the Korea Mine Rehabilitation and Mineral Resources Corp., for a swift response in emergencies.* This article has been translated by AI. 2026-04-22 11:03:15 -
Holt Gangdong Welfare Center Holds 8th Balral Festival in Gangil-dong A hands-on community festival bringing together people with developmental disabilities and local residents was held at a plaza in Gangil-dong, Seoul’s Gangdong District. Holt Gangdong Welfare Center, operated by Holt Children’s Services, said it held the eighth Balral Festival at the Gangil-dong plaza on April 18. The event was organized to mark Disability Day, observed annually on April 20 and established in 1972 to promote understanding of people with disabilities and advance their rights. People with developmental disabilities, their families and neighborhood residents took part in programs focused on disability awareness and community inclusion. On-site activities included augmentative and alternative communication, or AAC, demonstrations; a visual-impairment experience; and a disability-awareness quiz. Visitors also joined hands-on booths such as ball-toss games and other participatory activities. AAC refers to communication methods that use picture boards, symbols or electronic devices for people who have difficulty expressing themselves through speech or writing. The center said its use is expanding in South Korea’s support services for people with developmental disabilities. Other activities included decorating pens, making keychains, a portrait-drawing talent donation by an artist with a developmental disability, and a samulnori percussion performance. The center said a notable feature of this year’s festival was that some programs were planned and run with direct participation from people with developmental disabilities, reflecting a broader push in welfare services to expand participant-led roles beyond attendance. Local organizations including the Seoul Metropolitan Gangdong Youth Center and the Korea Welfare Center for the Blind joined the event. The Gangil-dong Community Service Center and police supported on-site safety management, and private sponsors including retailers and restaurant businesses helped with operations. Participants said the disability-experience programs and activities helped deepen their understanding of disability, the center said. A center official said, “We have continued to hold events in which the local community participates together to mark Disability Day,” adding, “We plan to keep expanding programs that bring people with developmental disabilities and those without disabilities together.” Holt Gangdong Welfare Center provides day care, family support and community-integration programs for people with developmental disabilities and regularly runs community-based disability awareness efforts. 2026-04-22 11:01:03 -
LS-VINA to Supply Extra-High-Voltage Cables for Vingroup’s Hai Phong New City Project LS Eco Energy said Tuesday that its Vietnam manufacturing unit, LS-VINA, has supplied extra-high-voltage cables for Vingroup’s new city development project in Hai Phong. LS-VINA is the top player in Vietnam’s extra-high-voltage cable market, with about an 80% share, the company said. It said the order strengthens LS-VINA’s position as a key supplier for local power infrastructure. Vingroup, Vietnam’s largest private company with businesses spanning real estate, retail, automobiles and energy, is developing a mixed-use new city in Hai Phong that combines residential, commercial and tourism functions under the Vinhomes Vu Yen project. The company said Vietnam’s accelerating urbanization is supporting demand. The government aims to raise the urbanization rate to 50% by 2030 and, under the national power development plan known as PDP8, is pursuing about 200 trillion won in generation and transmission investment. LS-VINA is the only company producing extra-high-voltage cables in Vietnam, LS Eco Energy said, positioning it to benefit directly from the investment cycle and to sustain mid- to long-term revenue growth. LS Eco Energy said the trend is reflected in results: first-quarter revenue and operating profit rose about 30% from a year earlier, and revenue hit a quarterly record. Extra-high-voltage cable sales jumped 177%, driven by grid investment and rising demand tied to AI data centers. “Urbanization and expanding power investment are combining to rapidly broaden LS-VINA’s mid- to long-term growth base,” a company official said. The official added that LS-VINA recently obtained quality certification for 230-kilovolt extra-high-voltage cables from a global certification body, laying groundwork to enter the North American market. LS-VINA entered Vietnam’s domestic market in 1994 as LG-VINA and has since grown into ASEAN’s largest wire and cable company, with annual revenue of about 1 trillion won, and Vietnam’s top cable exporter, LS Eco Energy said. 2026-04-22 10:57:47 -
PM Kim Min-seok: Oil Price Cap Shows Benefits; Decision on Fourth Round Soon Prime Minister Kim Min-seok said April 22 that the government will decide soon whether to launch a fourth round of the oil price cap after weighing its benefits and differing views. In opening remarks at an Emergency Economic Headquarters meeting at the Government Complex Seoul, Kim said the third round of the cap ends Tuesday, and a decision on a fourth round will follow. While some have questioned the policy’s effectiveness, Kim said the cap has shown clear positive effects, including preventing sharp inflation, easing a pullback in consumption and softening the impact on groups sensitive to fuel prices, such as freight drivers. Kim said small and midsize businesses and working households are the first to feel the biggest effects from a prolonged war in the Middle East. He said the government will actively communicate and seek ways to ensure the supplementary budget it has prepared provides practical help to small firms and ordinary people. Kim also said the COVID-19 crisis prompted improvements to the public health system and a stronger push to foster the biopharmaceutical industry. He urged ministries to manage immediate challenges while also identifying tasks needed to move toward change and innovation with an eye on the future. * This article has been translated by AI. 2026-04-22 10:57:14 -
Special Counsel to Question Lee Si-won on Alleged Pressure in Marine Death Probe Kwon Chang-young’s second comprehensive special counsel team, which is investigating unresolved allegations following three earlier special counsel probes (insurrection, Kim Keon Hee and the fallen Marine), will summon Lee Si-won in connection with claims of outside pressure on the Marine death investigation. The special counsel said Lee will be questioned as a witness on the 23rd. The team said the questioning concerns matters tied to the earlier special counsel cases and is unrelated to the North Korea remittance case transferred from the Seoul High Prosecutors Office human rights inspection task force to the Suwon District Prosecutors Office. The inquiry centers on allegations of interference surrounding the death of a Marine Corps 1st Division private in July 2023. At the time, Marine investigator Park Jeong-hun, then head of the Marine Corps investigative unit, transferred the case to police after applying negligent homicide charges to Lim Seong-geun, then commander of the 1st Division, and others. After the transfer, the records were retrieved, prompting suspicions that the presidential office and the Defense Ministry intervened in the investigation. The episode also fueled the so-called “VIP anger” claim — that Yoon Suk Yeol, described in the case as a former president, strongly reprimanded officials after being briefed on the findings and that the direction of the investigation then changed. The special counsel views whether there was improper pressure in the record-retrieval process as a key issue. Investigators plan to examine whether Lee was involved in the retrieval of the records. He is suspected of taking part in checking the transfer process, including speaking in August 2023 with Yoo Jae-eun, then the Defense Ministry’s legal affairs chief, and contacting police after receiving instructions from Cho Tae-yong, described as a former national security adviser, the report said. The earlier special counsel team on the Marine case, led by Lee Myung-hyun, indicted 12 key figures, including Yoon, without detention. It granted Lee discretionary immunity and issued a suspension of indictment, citing his cooperation. The special counsel said it will use the new questioning to recheck the decision-making process at the time and how instructions were conveyed. Separately, Lee is on trial in a case involving allegations that Lee Jong-sup, described as a former defense minister, fled overseas. That case concerns whether the presidential office intervened in the process of appointing him as ambassador to Australia, amid claims he was a central figure in the pressure allegations. The comprehensive special counsel is also separately reviewing whether the presidential office intervened in the investigation into Ssangbangwool’s alleged remittances to North Korea. The special counsel recently received related materials from the Seoul High Prosecutors Office task force, formed a dedicated team and is examining whether Lee and others influenced the direction of that investigation. The special counsel said it will analyze the secured materials and conduct witness interviews to determine, step by step, whether there was organized intervention by the presidential office. * This article has been translated by AI. 2026-04-22 10:54:20 -
Samchundang Pharm Shares Slide More Than 14% After Exchange Flags Disclosure Lapse Samchundang Pharm shares fell more than 14% after the Korea Exchange designated the company as an “unfaithful disclosure” firm over a disclosure lapse. According to the Korea Exchange on April 22, as of 10:38 a.m., the stock was trading at 407,500 won, down 14.30% from the previous session. Early in the session, it briefly dropped more than 28% to 342,000 won. The Korea Exchange’s KOSDAQ Market Division said the company was designated for failing to meet disclosure obligations and was assessed five penalty points, according to a filing released the previous day. Samchundang Pharm said it “humbly accepts” the exchange’s designation. The company said the issue stemmed from some information in a specific press release that could be interpreted differently from disclosure standards, adding that it is not directly related to the company’s business structure or performance. The exchange had previously issued a notice on March 31 that it planned to designate the company for failing to make a fair disclosure of outlooks or forecasts related to operating performance. With the latest action, the company’s cumulative penalty points over the past year total five. Under exchange rules, a single case resulting in eight or more penalty points can trigger a one-day trading suspension. If cumulative penalty points over the past year exceed 15, the company may be subject to a substantive review of listing eligibility.* This article has been translated by AI. 2026-04-22 10:51:15 -
Kookmin University team demonstrates quantum-secured satellite communication system SEOUL, April 22 (AJP) - A research team led by Professor Lee Ok-yeon at Kookmin University in South Korea has successfully implemented and verified a next-generation security system that combines low Earth orbit satellite communication with quantum-resistant cryptography. Working alongside Arion Communication, the team developed a hybrid structure designed to protect data across both wired and wireless connections. The technology integrates Quantum Key Distribution (QKD) for ground-based networks and Post-Quantum Cryptography (PQC) for wireless satellite links. This hybrid approach is designed to counter security threats posed by future quantum computers. It specifically addresses the risk of hackers collecting encrypted data today to unlock it later, a threat known as harvest-now-decrypt-later. During the demonstration, Kookmin University (KMU) researchers verified end-to-end encryption across a satellite link using the Iridium constellation. The team successfully ensured that KMU cryptographic modules were fully compatible with the TYTO series equipment from Arion. This verification moves the technology beyond a basic proof of concept and into a pilot stage for broader use. Beyond technical validation, the demonstration shows the potential for creating a sovereign security infrastructure that remains stable during disasters or military conflicts. KMU plans to expand the use of these systems to national defense networks, satellite-based battlefield communications, and unmanned vehicle operations. The university is now focusing on building a cooperation hub to bridge the gap between research and commercial markets. This initiative will provide a platform for private companies to test and certify their security technologies while helping to build a domestic industrial ecosystem. "Quantum security technology is not just about individual functions or performance; the core lies in demonstration and ensuring interoperability based on hybrid implementation technology," Professor Lee Ok-yeon said, adding: "I will accelerate the establishment of a Quantum Campus that covers water, land, air, and space by converging quantum security technologies such as PQC, QKD, and QRNG with satellite communications." 2026-04-22 10:50:15 -
STX Green Logistics Shares Slide 13% on Guarantee Dispute, Late Disclosure Warning STX Green Logistics shares fell more than 13% in early trading as investor sentiment weakened on a legal dispute tied to an STX affiliate guarantee and a Korea Exchange warning over a delayed disclosure. According to the Korea Exchange, STX Green Logistics was trading at 5,180 won as of 10:29 a.m. on the 22nd, down 810 won, or 13.52%, from the previous session. The stock extended losses from the opening. The biggest drag appeared to be legal risk surrounding the group structure, raising concerns that contingent liabilities across the broader STX group could materialize. The company disclosed that it provided 185.7 billion won in debt guarantees for borrowings by STX, a related party of its largest shareholder, from Nov. 29, 2023, to Nov. 30, 2024. It said STX Green Logistics was created through a spin-off from STX on Sept. 1, 2023, and that under the Commercial Act it shares joint and several repayment responsibility with STX, the surviving company, for debts incurred before the split. At the same time, STX Green Logistics filed a lawsuit at the Seoul Southern District Court against the Korea Development Bank seeking confirmation of nonexistence of debt. The suit asks the court to rule that no guarantee obligation exists in connection with an STX-related joint and several guarantee agreement signed on Nov. 28, 2024. Disclosure risk added to the pressure. The Korea Exchange notified STX Green Logistics of a preliminary designation as an unfaithful disclosure company, citing that it disclosed a Nov. 20, 2023, decision on providing a debt guarantee to another party only on April 20 this year, about two years late. Under KOSPI market disclosure rules, the exchange said the delay amounts to a failure to disclose. * This article has been translated by AI. 2026-04-22 10:45:44 -
Seoul Sauce 1991 Launches Official Store on Amazon to Expand Overseas Sales 소스코가 운영하는 K-푸드 기반 소스 브랜드 ‘서울소스 1991’이 글로벌 이커머스 플랫폼 Amazon에 공식 입점했다. 회사는 이를 계기로 북미를 포함한 해외 소비자 대상 직접 판매(D2C) 채널을 확대할 계획이라고 밝혔다. 서울소스 1991은 한국 전통 장류인 고추장을 기반으로 트러플, 까르보나라, 마라 등 해외 식문화를 접목한 퓨전 소스를 선보이고 있다. K-푸드 확산과 함께 간편식 트렌드가 커지면서 ‘소스’ 형태의 가공식품이 글로벌 시장에서 빠르게 성장하는 점을 반영한 전략으로 풀이된다. 농림축산식품부와 한국농수산식품유통공사(aT)에 따르면 최근 몇 년간 고추장을 포함한 장류 수출은 꾸준히 증가했다. 특히 소스 형태로 가공된 제품은 현지 요리에 쉽게 활용할 수 있어 해외 소비자 접근성이 높은 품목으로 꼽힌다. K-푸드 수출도 김치, 라면 등 완제품 중심에서 소스·조미료 등 ‘재료형 식품’으로 확장되는 흐름이 나타나고 있다. 서울소스 1991은 초기 개발 단계부터 글로벌 식품 규격을 반영한 단일 레시피를 적용했다고 설명했다. 국가별 규제와 금지원료 기준 차이로 내수용과 수출용 제품의 맛이 달라지는 문제를 줄이기 위한 방식으로, 지역별 레시피를 따로 운영하는 것과 달리 하나의 기준으로 맛을 통일하는 전략을 택했다. 유통 측면에서는 아마존 입점이 물류·배송을 지원하는 풀필먼트 서비스(FBA) 활용과 맞물리는 경우가 많다고 업계는 보고 있다. 이는 중소 식품 브랜드의 해외 진출이 오프라인 수출 중심에서 온라인 직판으로 이동하는 흐름을 보여주며, 초기 유통망 구축 부담을 낮추고 소비자 반응을 빠르게 확인할 수 있다는 장점이 있다. 서울소스 1991은 국내에서 외국인 관광객이 많이 찾는 리테일 채널을 중심으로 판매 데이터를 확보해 왔으며, 이를 바탕으로 해외 시장에서도 제품 확장 가능성을 검증해 왔다고 밝혔다. K-푸드는 한류 콘텐츠 확산과 함께 집에서 한국식 맛을 간편하게 구현하려는 수요가 늘면서 소스류 소비가 증가하는 경향을 보이고 있다고 회사는 설명했다. 회사 측은 미국을 시작으로 말레이시아, 일본, 홍콩, 대만 등 아시아 주요 시장으로 유통망을 넓혀갈 계획이라고 밝혔다. 업계에서는 고추장 기반 소스가 매운맛 트렌드와 맞물려 성장 가능성이 큰 분야로 평가하고 있으며, 간편식과 홈쿡 수요 증가로 소스 시장도 확대되는 추세라고 보고 있다. 소스코 관계자는 “아마존 입점은 글로벌 소비자와 직접 연결되는 계기가 될 것”이라며 “국내외에서 동일한 맛을 유지하는 제품 경쟁력을 기반으로 시장을 확대해 나갈 계획”이라고 말했다. 제목* This article has been translated by AI. 2026-04-22 10:43:19