Journalist
Lee Hugh
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Trump Says Iran Ceasefire Extended Until Talks End; Tehran Rejects Move Donald Trump, the U.S. president, unilaterally declared another extension of the ceasefire with Iran, but Tehran said it would not recognize the move, keeping uncertainty over whether the truce will hold and whether talks will resume. Trump said on April 21 (local time) on Truth Social that he had been asked to halt attacks on Iran “until Iran’s leadership and negotiating team can come up with a unified proposal,” citing what he called serious divisions within the Iranian government and requests from Pakistan’s Army Chief Gen. Asim Munir and Prime Minister Shehbaz Sharif. He added that he would extend the ceasefire “until the proposal is submitted and the discussion (bilateral negotiations) is concluded one way or the other.” He also said the maritime blockade and military readiness posture would remain in place. The announcement came as the original “two-week ceasefire” was nearing its end. Trump had first pushed back the deadline, originally set to end on April 21, by one day to “Wednesday (April 22) evening, Washington time,” and then extended it again. The latest move follows a series of pauses. After issuing an ultimatum on March 21 that Iran’s power plants would be devastated unless the Strait of Hormuz was opened within 48 hours, Trump delayed attacks for five days, citing ongoing negotiations. That was followed by an additional 10-day delay and then the two-week ceasefire. Including the latest extension, the U.S. has now postponed attacks four times, the report said. Because Trump tied the extension to talks ending, without a fixed deadline, the measure was widely seen as close to an open-ended ceasefire, with the possibility of a longer truce if negotiations continue. Iran, however, said it would not accept the U.S. announcement. Iran’s state broadcaster reported that Iran would not recognize the U.S. extension and would act according to its national interests. It said the ceasefire period with the United States ends at 3:30 a.m. local time on April 22 (midnight GMT on April 22; 9 a.m. April 22 in South Korea). The semiofficial Tasnim news agency reported that as long as the U.S. maritime blockade continues, Iran will at minimum not open the Strait of Hormuz, and that Iran’s military said it could lift the blockade by force if necessary. Ebrahim Zolfaghari, a spokesman for the Khatam al-Anbiya Central Headquarters, which commands Iran’s armed forces, warned via Tasnim that the military has long maintained “100% combat readiness.” He said that if there is any attack or action against Iran, it would immediately strike preselected targets with force and “once again show a clear response” to the United States and Israel. The United States and Iran held a first round of ceasefire talks in Islamabad, Pakistan, on April 11-12, but ended without results, the report said. A second round was scheduled for April 22, but it collapsed after the Iranian delegation, led by Parliament Speaker Mohammad Bagher Ghalibaf, decided at the last minute not to attend. The decision was conveyed to the U.S. side through mediator Pakistan, the report said. As a result, a planned visit to Pakistan by Vice President JD Vance, who was to lead the U.S. delegation, was canceled.* This article has been translated by AI. 2026-04-22 08:25:28 -
Crypto Slips as U.S.-Iran Ceasefire Talks Cloud Outlook; Bitcoin Holds Near $75,000 Cryptocurrencies, including bitcoin, edged lower as uncertainty grew over ceasefire negotiations between the United States and Iran. According to CoinMarketCap, bitcoin was trading at $75,642 as of 8 a.m. on the 22nd, down 0.47% from a day earlier. It remained well above the roughly $70,000 level seen a week ago. Major altcoins were also slightly weaker. Tether slipped 0.01% to $1, Solana fell 0.38% to $85.36, and Ethereum declined 0.36% to $2,311.83. Ripple (XRP) was down 0.32% at $1.42. Market uncertainty persisted after the U.S.-Iran talks failed to reach a concrete agreement. Iran’s negotiating team said on the 21st it would not attend the second round of ceasefire talks. President Donald Trump declared an extension of the ceasefire, helping avert an immediate clash, but a maritime blockade continued, appearing to spur some risk-off sentiment. In South Korea at the same time, bitcoin on the won-based exchange Bithumb was up 0.20% from a day earlier at about 112.32 million won ($75,789). The so-called “kimchi premium,” which refers to domestic prices trading above overseas levels, instead stood at minus 0.112%. * This article has been translated by AI. 2026-04-22 08:24:46 -
Hana Securities Raises LS Electric Target to 220,000 Won After Record Quarterly Results Hana Securities said April 22 that LS ELECTRIC posted its best-ever quarterly results and raised its target price to 220,000 won from 124,000 won. It maintained its “buy” rating. LS Electric reported first-quarter revenue of 1.3766 trillion won and operating profit of 126.6 billion won. Revenue and operating profit rose 33.4% and 45%, respectively, from a year earlier. Operating profit was roughly in line with the consensus estimate compiled just before the earnings release. Yu Jaeseon, an analyst at Hana Securities, said demand tied to data centers and renewable energy in Korea and overseas is driving continued expansion led by the company’s power business. He added that recurring profit margins would likely have exceeded 10% excluding labor costs booked as one-time expenses. Hana Securities said new orders in the first quarter totaled about 1.1 trillion won, up 27.4% from a year earlier, mostly for extra-high-voltage transformers and switchgear. It expects order growth to be led by extra-high-voltage products in the first half and by switchgear in the second half. Yu said rising investment by big tech companies in data centers is fueling structural growth in the switchgear business. He said the company is expanding products that can support areas such as on-site power generation and energy storage systems, and expects meaningful revenue and orders within the year.* This article has been translated by AI. 2026-04-22 08:24:16 -
NHN Cloud, NC AI Partner on Cloud Infrastructure for Physical AI and Industry AI Shifts NHN Cloud and NC AI are joining forces to expand AI infrastructure-based business. NHN Cloud said April 22 that it signed a strategic memorandum of understanding with NC AI to jointly pursue business based on AI solutions and cloud infrastructure. The agreement is designed to combine the companies’ core technologies and business capabilities to support AI adoption across industries and strengthen their presence in South Korea’s cloud market. Under the partnership, the two companies will cooperate broadly on AI infrastructure operations and technology upgrades, joint sales and market expansion, and collaboration on government-funded projects and the public sector. They plan to provide AI infrastructure optimized for public and financial-sector customers, where security and stability are essential, and to bolster competitiveness through technical synergies. The companies also plan to work together so NC AI’s “world model” technology — which simulates real-world physical laws — and its “physical AI” technology, which interacts with real environments, can be deployed across industrial sites. NHN Cloud said it will provide a stable high-performance computing environment by optimizing computing resources based on its experience operating large-scale GPU infrastructure. “Ultimately, the foundation of AI competitiveness lies in stable, advanced infrastructure,” NHN Cloud CEO Kim Dong-hoon said. He said the partnership will support the deployment of physical AI and other AI services in industrial settings, build an AI transition environment that companies can adopt with confidence through industry-tailored services, and expand successful “AX” cases. NC AI CEO Lee Yeon-su said the core of the partnership is building an optimal infrastructure environment so the company’s physical AI and world model technologies can be applied immediately at industrial sites. He said the companies will use their combined strengths to drive successful “AX” for public and private-sector organizations. * This article has been translated by AI. 2026-04-22 08:23:23 -
Vance Pakistan Trip Put on Hold, Casting Doubt on Second U.S.-Iran Talks U.S. Vice President JD Vance’s planned trip to Pakistan has been put on hold, clouding prospects for a second round of U.S.-Iran talks that had been expected to take place there. With Iran not responding to Washington’s latest proposal, analysts say a diplomatic solution could slip further out of reach. CNBC reported that Vance had been expected to travel to Pakistan for the second round of peace talks with Iran, but the schedule was delayed. The New York Times, citing a U.S. official familiar with the matter, said the departure was postponed because Iran has not replied to the U.S. negotiating position. The uncertainty quickly rippled through markets. U.S. stocks fell and international oil prices rose on renewed concern that potential U.S. and Israeli military action against Iran may not be contained through diplomacy. Reuters quoted a senior Iranian official as saying Pakistan has not yet resolved what he described as a U.S. naval blockade of Iranian ports near the Strait of Hormuz. “Iran cannot accept negotiations under pressure or talks premised on surrender,” he said, while leaving open the possibility of meeting U.S. officials in Pakistan if Washington drops what he called its pressure-and-threat approach. The reports came as a two-week cease-fire, brokered on the night of the 7th, was nearing its end. The timing of the U.S. negotiating team’s departure for Islamabad also remained unclear. President Donald Trump said the U.S. delegation “is going now,” but CNBC later cited a source saying the team was “getting ready to leave soon.” In an interview with CNBC, Trump said he believed the United States would ultimately reach “a good deal” with Iran, but added that the chances of extending the cease-fire further were low. After the cease-fire took effect, Vance previously traveled to Islamabad with Steve Witkoff and Jared Kushner for talks with Iranian representatives. That meeting ended without an agreement after 21 hours. The White House said Vance was attending an additional policy meeting on Monday. CNN reported that Vance’s motorcade was seen arriving at the White House later that afternoon. 2026-04-22 08:22:39 -
Hana Securities Cuts CJ Logistics Target Price on Forwarding Weakness, Keeps Buy Hana Securities said Tuesday it lowered its target price for CJ Logistics to 165,000 won, citing clearer signs of a downturn in its forwarding business. The brokerage maintained its “buy” rating, saying the company’s mid- to long-term growth outlook remains intact. In a report, Hana Securities analyst Ahn Do-hyeon said the firm had previously projected CJ Logistics’ full-year profit growth at 10% on rising parcel volumes and expansion in its warehousing and distribution (W&D) business, but cut its estimate to 2%. Ahn said the parcel unit is seeing operating leverage from volume growth, but profitability improvement in the global division is likely to be slower than expected. He added that higher oil prices since the war are expected to raise costs in the contract logistics (CL) unit and could also weigh on port cargo volumes. He said the W&D unit acquired logistics assets from major commerce companies such as E-Mart in 2025, but profitability gains are being delayed as the company works to stabilize the centers. Ahn forecast first-quarter revenue of 3.097 trillion won, up 4% from a year earlier, and operating profit of 99.1 billion won, up 16%, for an operating margin of 3.2%. He said parcel volume is expected to rise 14% from a year earlier, far outpacing market growth of 6%, and that CJ Logistics’ parcel market share continues to increase. However, he said that despite W&D growth, overall CL revenue is expected to rise 5% year over year due to weaker port volumes. Global revenue is estimated to fall 6%, he said, adding that while the U.S. and India units are performing well, a postwar contraction in the forwarding business is becoming more visible. Still, Ahn said CJ Logistics’ growth trajectory “remains valid” in broad terms. He said the parcel business is expected to grow by gaining market share on the back of the company’s seven-day delivery service, and that CJ Logistics’ W&D business should improve profitability as outsourcing expands in the domestic W&D market.* This article has been translated by AI. 2026-04-22 08:21:50 -
SK On Moves to Open Tokyo Office to Expand Japan Auto and ESS Business SK On is moving to set up a local office in Japan as it steps up its push into the market. Industry sources said SK On is completing administrative procedures with the aim of opening a Tokyo office by the end of this month. The Japan office would serve as a base to expand cooperation with local automakers, including Nissan, while also exploring opportunities in energy storage systems, or ESS. The company plans to broaden its portfolio beyond EV batteries into ESS and speed up new project orders. It is also known to be discussing EV battery and ESS cooperation plans with multiple Japanese companies. The move comes as the EV market slowdown drags on, with SK On seeking a two-track approach: entering Japan’s conservative auto market while expanding its ESS business. “Using our Japan office as a hub, we will strengthen a faster, closer response system to customer needs and continue profitability-focused growth, including securing new orders,” an SK On official said.* This article has been translated by AI. 2026-04-22 08:21:18 -
Korea Credit Union Federation Moves to Launch Asset Management Firm in October The Korea Credit Union Federation said April 22 it is moving ahead with plans to establish an asset management company to strengthen oversight of credit unions’ financial soundness. The federation has reviewed the plan as a way to speed up the disposal of nonperforming loans and to provide more systematic support for loss prevention and management improvement. With revisions to the Credit Union Act completed after a National Assembly plenary vote on March 31 and promulgation on April 21, the federation said it will begin related procedures with the goal of starting operations in October this year. The new credit union asset management company will work alongside KCU NPL Loan, which has handled bad-loan resolution, to help stabilize delinquency rates and strengthen soundness management. Unlike KCU NPL Loan, which has faced limits on NPL purchases due to regulations such as caps on total assets, the new company will be able to buy nonperforming loans more flexibly without requiring additional capital contributions. It may also borrow from the deposit protection fund if needed, which the federation expects will improve the speed and flexibility of funding. The company will also be able to carry out 12 types of work, including credit checks on debt-related parties and debt collection. The federation said this should allow it to manage the full process more integrally, from purchasing nonperforming loans to recovery, improving efficiency. Go Yeong-cheol, chairman of the Korea Credit Union Federation, said the company “will provide practical help in managing the soundness of member credit unions by increasing the speed and efficiency of nonperforming-loan resolution.” He added that the federation “will actively support” efforts to ensure the system operates stably in the field.* This article has been translated by AI. 2026-04-22 08:19:04 -
Singer Yook Joong-wan Says He Gave Up Scooters After Wife’s Warning Singer Yook Joong-wan said he quit riding scooters, a hobby he once called his “happiness,” after his wife urged him to stop following the birth of their child. Yook appeared on the SBS variety show “Same Bed, Different Dreams Season 2: You Are My Destiny,” which aired on April 21. “Scooters were happiness for me, but it felt like my arms and legs were cut off,” Yook said. He said his wife told him to give it up because their baby had been born, and the couple argued. “Then she said, ‘If something happens to you, are you going to take care of the baby?’ After hearing that, I wrapped it up,” he said. Asked by Kim Sook whether he could ride in secret, Yook said he had in fact bought a scooter without telling his wife, but suspected she kept getting tips. He said he covered up with a helmet and face covering, leaving only his eyes visible, but was recognized outside his home by his 3-year-old daughter, who called out “Dad,” drawing laughter.* This article has been translated by AI. 2026-04-22 08:18:17 -
DS Investment & Securities Raises SGC Energy Target on Data Center, Power Outlook DS Investment & Securities on Tuesday maintained its “buy” rating on SGC Energy and raised its target price to 83,000 won, citing expectations for a normalization in power-generation earnings and expansion of its data center business. Ahn Ju-won, a researcher at DS Investment & Securities, said SGC Energy posted first-quarter revenue of 612.0 billion won and operating profit of 35.6 billion won, down 1.0% and up 102.7% from a year earlier, respectively. He said higher winter electricity demand lifted the system marginal price, or SMP, slightly boosting generation revenue, while the generation operating margin recovered to 6.7%, helping overall profitability return to normal levels. The generation margin was about 2.2% in the first quarter of last year. The construction segment delivered steady results as plant project progress improved, with an operating margin of 5.9%. The glass business, however, saw both revenue and profit slow due to weaker consumption of alcoholic beverages and drinks, he said. Looking ahead, Ahn said rising oil prices tied to tensions in the Middle East could push SMP higher and accelerate gains in the generation business. He noted the average SMP was 107 won in the first quarter but had risen to 119 won as of April. He added that while WTI has fallen from its peak, it remains in the $80 range, suggesting SMP could stay elevated. DS Investment & Securities forecast this year’s operating profit in the generation segment at 146.2 billion won, a sharp increase from a year earlier, with an operating margin of about 14.8%. The construction business is expected to sustain stable growth as orders expand, led by semiconductor and pharmaceutical-bio projects. Ahn also pointed to the data center business as a mid- to long-term growth driver. He said annual profit of about 100.0 billion won is expected from data center leasing income starting in 2028. The plan calls for a total capacity of 300 megawatts, and the operating timeline for the first 40 megawatts has been confirmed. He said demand is rising quickly as global companies expand AI investment in South Korea, and the second phase is expected to take shape between late this year and early next year. * This article has been translated by AI. 2026-04-22 08:15:18