Journalist
Lee Hugh
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South Korea Orders Recalls of 532,144 Vehicles Including Hyundai Santa Fe, Kia Ray South Korea’s Ministry of Land, Infrastructure and Transport said Tuesday it will carry out voluntary corrective actions covering 532,144 vehicles across 17 models made or imported and sold by Hyundai Motor, Kia, KG Mobility and Toyota Motor Korea after manufacturing defects were confirmed. Hyundai will begin repairs June 4 for 239,683 vehicles across four models, including the Santa Fe Hybrid, Ioniq 6 and Genesis G90. The ministry said the front-seat seat belt anchorage design may be insufficient, raising the possibility it may not properly protect occupants in a crash. The issue matches a global recall in the United States covering 294,000 vehicles of the same four models. The ministry said Hyundai plans to start the recall after quickly producing reinforcement parts. Separately, 202 Hyundai Elec City double-decker buses are being repaired starting April 20 after a body design issue raised the possibility of cracks forming in the upper structure above the center door, which could affect safety. Kia will begin repairs April 28 for 220,059 Ray vehicles after shortcomings were found in the engine control unit software design, which could cause the engine to stall while driving. KG Mobility began corrective actions April 20 for 51,535 vehicles across six models, including the Torres, after a memory overload was found that could cause the instrument cluster display to freeze or shut off. Another 18,533 vehicles across two models, including the Torres EVX, also began repairs the same day after an investigation found the rear-collision warning light’s flashing cycle did not meet standards due to software design shortcomings. Toyota Motor Korea will begin repairs April 23 for 2,132 vehicles across three models, including the Prius two-wheel-drive version, after the rear-door outside handle circuit design was found to be insufficient, creating a risk the rear door could open while driving. Drivers can check whether their vehicles are affected and review specific defect details by entering a vehicle registration number or vehicle identification number on the Auto Recall Center website.* This article has been translated by AI. 2026-04-22 09:47:24 -
Kospi Briefly Tops 6,400 After Record High, Then Turns Choppy The Kospi swung between gains and losses early April 22 after touching the 6,400 level, as expectations for an improving semiconductor cycle and foreign inflows helped the benchmark set a fresh record high for the first time in about two months. According to the Korea Exchange, the Kospi was down 6.93 points, or 0.10%, at 6,382.80 as of 9:23 a.m. It opened lower at 6,387.57, then turned higher and climbed to 6,400.11 around 9:01 a.m. before turning choppy again. Overnight, U.S. stocks closed lower as uncertainty grew over a second round of talks between the United States and Iran. The Dow Jones Industrial Average fell 0.59%, while the S&P 500 and Nasdaq dropped 0.63% and 0.59%, respectively. Major tech shares were mixed, with Microsoft up 1.46% and Amazon up 0.66%, while Nvidia fell 1.08% and Tesla slid 1.55%. The Philadelphia Semiconductor Index rose 0.50%. The moves came as skepticism spread over renewed U.S.-Iran negotiations, weakening expectations for an end to the war, the report said. Investor sentiment also appeared to cool after comments by Kevin Warsh, a candidate for chair of the Federal Reserve, were interpreted as hawkish. Warsh said he would maintain the independence of monetary policy regardless of the president’s preference for rate cuts. “After Warsh’s remarks, U.S. stocks turned lower as selling emerged,” said Seo Sang-young, a researcher at Mirae Asset Securities. He said uncertainty increased after Warsh signaled a sweeping overhaul of the existing inflation framework and the adoption of new data standards. In Seoul, retail investors were net buyers of 991.9 billion won, while foreigners and institutions sold a net 314.0 billion won and 669.5 billion won, respectively, as they took profits. Among large-cap shares, Samsung Electronics rose 0.46%, LG Energy Solution gained 1.67% and Hanwha Aerospace added 1.87%. SK hynix fell 0.41%, Hyundai Motor dropped 1.10%, SK Square slid 1.81%, Doosan Enerbility lost 0.86%, Samsung Biologics dipped 0.25% and Kia fell 0.63%. By sector, electronics rose 0.17%, chemicals gained 0.52% and metals climbed 1.22%. Decliners included finance, down 1.20%, along with pharmaceuticals, machinery and equipment, IT services, retail, securities and insurance. The Kosdaq also opened lower. It started down 2.20 points, or 0.19%, at 1,176.83 and was trading down 6.20 points, or 0.53%, at 1,172.83. Retail investors were net buyers of 139.8 billion won on the Kosdaq, while foreigners and institutions were net sellers of 18.0 billion won and 60.5 billion won, respectively. Kosdaq heavyweights were mixed. EcoPro rose 0.92%, EcoPro BM gained 0.23% and LigaChem Bio added 1.03%. Alteogen fell 1.36%, Rainbow Robotics slipped 0.67%, Samchundang Pharm plunged 14.93%, Lino Industrial dropped 0.76%, ABL Bio fell 1.60%, Kolon TissueGene lost 2.06% and HLB slid 3.53%.* This article has been translated by AI. 2026-04-22 09:46:08 -
Travel Firms Counter Rising Fuel Surcharges With Reimbursements and Discounts Rising geopolitical risk in the Middle East has sent international oil prices swinging, pushing up airline fuel surcharges on tickets. With May fuel surcharges expected to climb as high as Level 33, travelers planning overseas trips face higher costs. Travel companies are responding with full reimbursements of surcharge increases and broad discount campaigns to keep demand from cooling. ◆ “We’ll pay back the increase”: Modetour launches April-only fuel reimbursement Modetour said it will fully cover May fuel-surcharge increases for customers who finalize reservations in April under a “fuel reimbursement” program. The move is aimed at easing additional costs that can rise after booking amid a strong-dollar, high-oil environment. The program applies to the first 1,000 customers who book eligible products for Japan, China and Southeast Asia. No separate application is required. The company will automatically pay the difference between the fuel surcharge at the time of reservation confirmation and at ticketing as tour mileage in the month after departure. The mileage is valid for five years. Modetour also expanded short-haul options, citing demand shifting to nearby destinations with lower overall costs. It created specialized categories for Southeast Asia; Japan; China/Hong Kong/Mongolia; and departures from Busan, Daegu and Cheongju. In April, reservation rates for China and Japan rose 16% and 2%, respectively, from a year earlier, the company said. ◆ NOL Universe ramps up “across-the-board price support” with daily coupons NOL Universe is also rolling out promotions to prevent customer drop-off as fuel surcharges rise, offering discounts across airfare and overseas lodging. Through Thursday the company will issue first-come, first-served 5% discount coupons each day at 10 a.m. for flights to Japan, China, Vietnam and Thailand. It is also offering an additional 10,000 won instant discount on all Japan and China routes, plus a 7% discount on overseas lodging reservations. The company will also run limited-time deals through its live commerce channel, “NOL Live.” At 11 a.m. on Monday, it plans a one-hour Asiana Airlines special, offering viewers additional discount coupons of up to 30,000 won. NOL Interpark Tour will issue first-come, first-served 10,000 won coupons for all international routes twice daily, at 10 a.m. and 2 p.m. Additional discounts of up to 10% will be available by route for payments made with major credit card companies, it said. ◆ High oil, strong dollar squeeze: Industry bets on direct savings With signs that geopolitical tensions in the Middle East could persist, travel companies face a tougher outlook. Fuel-surcharge increases combined with a strong exchange rate have sharply raised travelers’ perceived costs. In response, agencies are concentrating promotions on short-haul routes, where airfare burdens are typically lower than long-haul travel, and emphasizing simple, direct financial benefits to attract customers. Jeong Hui-yong, a department head in Modetour’s marketing business division, said the reimbursement program was designed as a “practical, benefits-focused promotion” to help customers choose products more confidently despite higher fuel surcharges. Park Jeong-hyeon, head of NOL Universe’s aviation business division, said the company would “reduce customers’ travel burden and support reasonable choices” through its broad price-support measures. 2026-04-22 09:43:20 -
Vietnamese Media Spotlight South Korean President Lee Jae-myung’s State Visit South Korean President Lee Jae-myung arrived in Hanoi on the evening of the 21st to begin his visit to Vietnam, drawing prominent play across major Vietnamese news sites. Vietnam News Agency (TTXVN), Thanh Niên, Tuổi Trẻ, Vietnam+ and VnEconomy all led their homepages with Lee’s arrival, reflecting strong local interest. Thanh Niên highlighted that the trip is Lee’s first state visit to Vietnam since taking office, and said he is the first foreign head of state to visit since Vietnam’s 16th National Assembly completed a leadership reshuffle. State-run TTXVN posted six photos of Lee and first lady Kim Hye-kyung arriving at Noi Bai airport and reported in detail on the welcoming officials, including Nguyen Minh Vu, first vice minister of foreign affairs; Vu Dai Thang, chairman of the Hanoi People’s Committee; and Vu Ho, Vietnam’s ambassador to South Korea. Vietnam+ detailed the makeup of Lee’s delegation, listing senior officials including Deputy Prime Minister Bae Kyung-hoon, who also serves as minister of science and ICT; Foreign Minister Cho Hyun; Industry Minister Kim Jung-kwan; and Land Minister Kim Yoon-deok, as well as Ha Jung-woo, senior secretary for AI future planning. The outlet also carried a biographical profile of Lee, saying he earned a law degree from Chung-Ang University, passed the bar exam in 1986, and later served as mayor of Seongnam, governor of Gyeonggi Province, a lawmaker and leader of the Democratic Party before becoming president. Tuổi Trẻ focused on the visit’s diplomatic significance. Citing an exclusive interview the previous day with Foreign Minister Cho Hyun, the outlet reported that “this meeting will be a historic milestone that strengthens the close relationship and trust between the two countries’ top leaders.” It also highlighted that Lee is accompanied by leading South Korean business chiefs, including SK Group Chairman Chey Tae-won, who also heads the Korea Chamber of Commerce and Industry; Samsung Electronics Chairman Lee Jae-yong; Hyundai Motor Group Chairman Chung Euisun; LG Group Chairman Koo Kwang-mo; HD Hyundai Vice Chairman Chung Ki-sun; and Hyosung Group Chairman Cho Hyun-joon. Business outlet VnEconomy gave the most extensive treatment to the visit’s economic implications, quoting Ambassador Vu Ho as calling it “a strategic anchor” for a new stage of bilateral ties. The outlet said South Korea is Vietnam’s largest foreign investor, with cumulative registered investment of about $85 billion to $90 billion, and estimated two-way trade last year at $90 billion to $95 billion. VnEconomy said a key agenda item is shifting cooperation from capital- and labor-dependent ties toward technology and innovation centered on semiconductors, artificial intelligence and advanced industries. Vu Ho was quoted as saying that if the two countries move “from economic cooperation to structured economic integration,” the goal of $150 billion in bilateral trade by 2030 is achievable. The outlet added that, with Vietnam set to host the Asia-Pacific Economic Cooperation summit next year on Phu Quoc, discussions are expected on strengthening cooperation with South Korea—which it said successfully hosted the APEC summit in Gyeongju last year—in the digital economy, green growth and sustainable supply chains.* This article has been translated by AI. 2026-04-22 09:42:21 -
Fresh uncertainty arises as Trump extends ceasefire with Iran indefinitely SEOUL, April 22 (AJP) - U.S. President Donald Trump on Tuesday extended a ceasefire with Iran indefinitely until Tehran submits a "unified proposal" to end the conflict in the Middle East, reversing a statement he made only hours earlier that there would be no extension. "We have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal," Trump wrote on his own platform Truth Social. "I have therefore directed our Military to continue the Blockade and, in all other respects, remain ready and able, and will therefore extend the Ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other," he added. The extension came at the last minute, as the two-week ceasefire was set to expire on Wednesday, just ahead of a planned trip by Vice President JD Vance to Islamabad, Pakistan, for another round of talks that was put on hold after Iranian negotiators said they would not attend. Uncertainty now further surrounds whether and when a new round of talks between Washington and Tehran will resume, though Trump who may want to quickly pull out of the conflict while saving face, remained optimistic that Washington would "end up with a great deal" with Iran. "I think they have no choice. We've taken out their navy, we've taken out their air force, we’ve taken out their leaders, frankly, which does complicate things in one way. But these leaders are much more rational," he said. 2026-04-22 09:40:45 -
Kakao Pay Insurance Revamps Policy for Elementary and Middle School Students Kakao Pay Insurance has revamped an insurance product for elementary and middle school students, strengthening coverage for risks tied to school life. The company said Tuesday it revised its “non-dividend elementary and middle school student insurance,” simplifying benefits and improving practicality. It reorganized the plan from seven basic coverages and five packages into six core coverages and two packages to make enrollment easier. The revision adds expanded protection related to school violence and legal disputes. It provides up to 1 million won in treatment costs for victims of school violence and up to 20 million won in civil lawsuit legal fees, broadening coverage from medical care to dispute response. The six core coverages are emergency room visit costs, school violence victim coverage, civil lawsuit legal fees, fracture diagnosis benefits, treatment costs for injuries from car accidents, and hospitalization benefits for traffic injuries. The product also offers 23 disease- and injury-related riders, covering illnesses such as influenza and pneumonia and accidents such as fractures and burns. The plan comes in a basic option and a more comprehensive option, and customers can also tailor coverage by selecting only the riders they need. A company official said the changes reflect risks that occur in school life and strengthen practical protection.* This article has been translated by AI. 2026-04-22 09:37:45 -
KB Kookmin Bank launches homecoming service for overseas Koreans returning to South Korea KB Kookmin Bank said on the 22nd it has launched the “KB Prime Donghaeng Homecoming Service” to help overseas Koreans settle stably after returning to South Korea. The bank said the service was created to meet demand for relocation and asset restructuring as global asset-market conditions shift and interest grows in South Korea’s education and living infrastructure. Reflecting the complex needs of return-migration customers — including moving assets as well as residence — the bank plans to provide an integrated package covering administrative, tax, real estate, legal and wealth-management services. The KB Prime Donghaeng Homecoming Service is the first offering in the bank’s “Donghaeng” series for WM (wealth management) clients. It provides tailored support across the return process, including help with administrative steps such as restoring nationality, transferring overseas assets and rebuilding financial portfolios, and tax-saving and gift-tax consulting. With the launch, KB Kookmin Bank opened a dedicated return-migration counter, the “KB Homecoming Desk,” at its Myeong-dong Asset Management Advisory Center. In South Korea, customers can request consultations through nearby branches. In the United States, consultations are available through partner firm Koriny. The bank said it plans to expand eligible customers and the scope of services by linking the program with its KB WM Star Advisory Group and family office services for managing wealth at the family level. A KB Kookmin Bank official said, “We hope this service will provide practical help to customers,” adding, “We will continue to expand customer-focused comprehensive financial services based on differentiated WM capabilities.”* This article has been translated by AI. 2026-04-22 09:37:10 -
LIG D&A, South Africa’s Milkor to Co-Develop Unmanned Aircraft Platform LIG Defense&Aerospace, or LIG D&A, is partnering with South African defense company Milkor to pursue the global market for next-generation unmanned aerial systems, the company said. LIG D&A said it signed a memorandum of understanding with Milkor on Monday (local time) at DSA 2026 in Kuala Lumpur, Malaysia, covering cooperation on future unmanned aircraft platforms and integrated mission systems technology. The agreement aims at joint development of unmanned reconnaissance aircraft platforms and advanced mission equipment carried on them, which the companies described as increasingly essential on modern battlefields. LIG D&A and Milkor said they plan to deepen the partnership beyond technical exchanges, including jointly planning weapons-system development. Under the MOU, the companies plan to pursue system-integration options that would combine LIG D&A’s in-house active electronically scanned array, or AESA, radar and advanced electronic warfare equipment with Milkor’s next-generation unmanned aircraft platform. The goal is a turnkey integrated unmanned system that can carry out missions ranging from surveillance and reconnaissance to precision strikes on a single platform. A LIG D&A official said the combination of the company’s mission-system technology and Milkor’s proven unmanned platform would help secure a competitive product for the global market. The official said LIG D&A will continue efforts to develop unmanned-system solutions optimized for future battlefields and to strengthen the standing of South Korea’s defense industry.* This article has been translated by AI. 2026-04-22 09:36:18 -
Kumho Tire wins 2026 German Design Award for Ecsta Sport tire Kumho Tire said April 22 that it won a main prize at the 2026 German Design Award, citing the honor as recognition of its global design competitiveness. The GDA is an international design competition hosted by the German Design Council, founded in 1953. Kumho Tire received the main prize in the Excellent Product Design category, automotive parts segment, for its ultra-high-performance Ecsta Sport tire. Ecsta Sport is designed to maximize driving performance for high-performance, high-output vehicles. Its tread uses a zigzag layout intended to improve stability at high speeds. The GDA jury said the tire’s distinctive tread design, highlighted by a dynamic checkered-flag motif, gives Ecsta Sport a strong identity, adding that the combination of functional precision and design clarity was particularly impressive. Kim Young-jin, executive vice president and head of Kumho Tire’s R&D division, said it was meaningful for the company to post strong results in major design awards at home and abroad, including the GDA as well as the U.S. IDEA Design Award and Japan’s Good Design Award.* This article has been translated by AI. 2026-04-22 09:34:15 -
Dalba Global shares rise more than 6% on expectations of strong Q1 earnings Dalba Global shares climbed more than 6% in early trading on expectations of strong first-quarter earnings. According to the Korea Exchange, Dalba Global was trading at 211,000 won as of 9:17 a.m. on Tuesday, up 12,300 won, or 6.19%, from the previous session. The gain came as brokerages issued upbeat forecasts for the company’s first-quarter performance. In a report released Tuesday, Shinyoung Securities projected first-quarter revenue of 166.4 billion won and operating profit of 38.8 billion won, up 46% and 29%, respectively, from a year earlier. It estimated an operating margin of 23.3%. Lee Gyoseok, an analyst at Shinyoung Securities, said growth in Western markets is expected to remain strong, supported by an expansion of offline operations in the United States and solid Amazon sales in Europe. He added that sales trends in the company’s core markets — Japan, Russia and South Korea — also remain steady. Lee said improved profitability in Western markets, driven by category diversification and a larger business-to-business share, underpins the firm’s forecast for a 20.7% operating margin in 2026. * This article has been translated by AI. 2026-04-22 09:33:29