Journalist
Lee Hugh
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South Korea, Poland agree to further deepen ties beyond defense cooperation SEOUL, April 13 (AJP) - South Korea and Poland on Monday agreed to upgrade their bilateral relationship to a "comprehensive strategic partnership" and pledged to expand cooperation in the defense industry and other areas. "South Korea has global competitiveness across a range of industries, while Poland is strong in basic science and technology and has geographic advantages and a skilled workforce. If these strengths are combined in a mutually beneficial way, a new horizon for bilateral cooperation will open," Lee said during a meeting with Polish Prime Minister Donald Tusk at Cheong Wa Dae in Seoul on Monday. Lee then said the two countries' defense ties have deepened enough to sign a massive deal worth US$44.2 billion in 2022. Citing South Korea's homegrown weapons such as K2 battle tanks, K9 self-propelled howitzers, FA-50 light attack aircraft, and Chunmoo multiple rocket launchers, Lee said they are helping protect Poland's territory and people. But he said, "Defense cooperation between the two countries does not mean simple purchase deals of weapons," adding that the two leaders vowed to broaden cooperation beyond defense to include exchanges in various sectors including advanced industries, science and technology, space, energy, and infrastructure. Economic and industrial cooperation is already expanding, with South Korean battery companies operating in Poland now pursuing entry into the energy storage system market as they diversify their businesses there. The two sides also agreed to expand joint research, exchanges and government-level support in areas including hydrogen, nanomaterials and space, as well as major infrastructure projects such as a new airport link and the replacement of Warsaw's tram system. Lee and Tusk also affirmed their resolve to work together for global peace and prosperity, addressing that security on the Korean Peninsula and in Europe is closely linked, and agreed to continue cooperation to cope with supply chain disruptions caused by the prolonged conflict in the Middle East. Monday's meeting marks the first visit by a Polish leader to South Korea in 27 years and Tusk's first trip to a non-European country since taking office in December 2023. Lee said Tusk's visit is a "new milestone" in bilateral ties since South Korea and Poland established diplomatic relations in 1989. After the summit, Lee and Tusk attended a luncheon that also included key business leaders from the defense sector, such as Lee Yong-bae, CEO of Hyundai Rotem; Son Jae-il, CEO of Hanwha Aerospace and Hanwha Systems; and Kim Jong-chul, CEO of Korea Aerospace Industries. 2026-04-13 15:01:49 -
BOK nominee Shin claims he shed foreign assets ahead of hearing SEOUL, April 13 (AJP) — Shin Hyun-song, nominee for governor of the Bank of Korea, defended the central bank’s interventionist stance to curb excessive dollar strength against the won, describing the country’s foreign exchange buffers as “robust” against external shocks. In a written response released Monday ahead of his parliamentary confirmation hearing, Shin warned that a sharp rise in the dollar-won rate fuels inflationary pressure while increasing the burden on non-export firms and households. He pledged to closely monitor currency movements, noting that the won’s postwar depreciation has been steeper than that of peer currencies and remains highly volatile. The Korean won rebounded 1.8 percent to 1,482.5 per dollar last Friday from 1,505.2 a week earlier, but is still down 3.1 percent from end-2025 levels. While foreign exchange reserves have declined by $7.1 billion from since the intervention - from $430.7 billion as of November last year to $423.6 billion in March - Shin said they remain sufficient to serve as a buffer against external shocks. Shin attributed the decline to temporary factors, including measures to mitigate volatility in the spot exchange market, changes in the U.S. dollar-converted value of assets held in other currencies, fluctuations in foreign currency deposits at financial institutions, and the foreign exchange swap with the National Pension Service (NPS). Addressing concerns over his personal finances, Shin said he has already begun reducing his foreign-currency holdings, which previously made up the bulk of his portfolio, in a move aimed at easing conflict-of-interest concerns. “I have already disposed of a significant portion of my foreign-denominated financial assets,” he said in response to a query from Park Soo-young of the People Power Party. According to his asset disclosure, 4.57 billion won ($3.1 million)—or 56 percent of his family’s total wealth of 8.24 billion won—is held in foreign currencies including the U.S. dollar, British pound and Swiss franc. Within his financial assets, nearly 98 percent were denominated in foreign currencies. Critics argue such a portfolio—one that benefits from a weaker won—is inappropriate for a central bank chief expected to act as a “firefighter” in currency markets. Shin said he plans to “sequentially reduce” his foreign asset exposure, while also selling about 300 million won worth of domestic stocks and exchange-traded funds (ETFs) to avoid potential conflicts of interest. Responding to allegations that he purchased a London-listed ETF tracking the Korean market—“Franklin FTSE Korea”—shortly before his nomination, Shin said the investment was made “for portfolio management purposes.” On property-related concerns, Shin said he has put two of his three homes—including properties in Seoul’s Gangnam and Jongno districts—up for sale, as part of efforts to comply with public service standards. The move comes as the government prepares to tighten regulations on multi-homeowners from May, including raising capital gains tax rates by at least 20 percentage points for those owning two or more homes. Shin faces a confirmation hearing at the National Assembly on Wednesday. 2026-04-13 14:57:53 -
Yuhan wins FDA orphan drug tag for Gaucher disease candidate SEOUL, April 13 (AJP) - South Korean drugmaker Yuhan said its experimental Gaucher disease therapy YH35995 has received orphan drug designation from the U.S. Food and Drug Administration (FDA), unlocking a suite of regulatory and commercial incentives as the company pushes into rare disease treatment. The FDA's orphan drug program is designed to spur development of therapies targeting conditions affecting small patient populations with limited treatment options. Designated drugs are eligible for clinical trial tax credits, waived FDA review fees and up to seven years of market exclusivity upon approval. Gaucher disease is a hereditary lysosomal storage disorder caused by a specific enzyme deficiency, triggering abnormal metabolic buildup that can cause enlarged liver and spleen, anaemia, low platelet counts and skeletal complications. Type 3 Gaucher disease, the form Yuhan is targeting, also carries neurological symptoms for which treatment options remain scarce. YH35995 is an oral small-molecule glucosylceramide synthase inhibitor — a substrate reduction therapy that works by lowering the production of glucosylceramide, or GL1. In preclinical studies, the compound showed a tendency to cross the blood-brain barrier and sustain GL1 suppression in the brain, raising hopes it could address the neurological dimension of the disease. Substrate reduction therapy works by limiting the amount of a fatty substance that accumulates in cells when the body lacks the enzyme needed to break it down — an approach that sidesteps the need to replace the defective enzyme directly. Yuhan said the compound has already received approval for a Phase 1 clinical trial in South Korea. 2026-04-13 14:52:53 -
TXT Releases First Album Since All Members Renewed Contracts TOMORROW X TOGETHER shared their thoughts on releasing a new album after all five members renewed their contracts. A showcase for the group’s new release, “7TH YEAR: When the Wind Stopped for a Moment in the Thornbush,” was held on the afternoon of the 13th at Korea University’s Hwajeong Campus in Anam-dong, Seongbuk-gu, Seoul. The title track, “One More Day a Day (Stick With You),” sings of the longing to hold on to a love that is nearing its end. It portrays a heart that cannot let go, unlike a partner preparing for a breakup. Soobin said the album title is “really long,” adding that the group put a range of emotions into the music and prepared hard for the release. “It feels new because it’s our first album after renewing our contracts. We’ll show you a cool side of us,” he said. Hueningkai echoed him, saying, “The album is ‘7TH YEAR: When the Wind Stopped for a Moment in the Thornbush.’ The title is really long. That’s how many different emotions we put into the music. We prepared hard.” Beomgyu said the group, known for telling a coming-of-age story, has returned with a “heartfelt love story.” “It’s already our eighth year, and time feels like it’s gone by fast. Thank you for being with us as we’ve grown,” he said. Yeonjun said that because it is their first comeback since renewing their contracts, they prepared “with the mindset of debuting.” “I’m really curious how you’ll see it. We’ll work hard,” he said. Taehyun added, “As always over the past seven years, we’ll work hard.” The group will meet fans at a comeback showcase at 8 p.m. today at Korea University’s Hwajeong Gymnasium.* This article has been translated by AI. 2026-04-13 14:48:14 -
Online Posts Revive Claims About Comedian Lee Hwi-jae’s Time in Vancouver Online posts about broadcaster Lee Hwi-jae’s time in Canada have resurfaced, drawing renewed attention. On April 12, an online community re-shared a post that had appeared last month on “I Love Vancouver,” a Korean Canadian community site. The post asked whether anyone had actually seen Lee, after hearing he lived in Vancouver. A Korean Canadian commenter, identified as A, replied that Lee was said to have lived in North Vancouver and claimed an acquaintance once ran into him on the street. When the acquaintance asked, “Aren’t you Lee Hwi-jae?” Lee “just ignored him and walked past,” A wrote. A added that the acquaintance remembered the moment because Lee’s look seemed to convey, “Who is this guy acting like he knows me?” and that it left him feeling upset. Another commenter wrote that Lee had “not a single” positive story circulating even after coming to Canada, adding that the accounts they had heard through acquaintances were only of a similar kind. More comments followed, including claims that Lee was seen at times around West Vancouver and that some people had spotted him at shopping malls or grocery stores. Some users also criticized him while referring to past controversies and his return to television. Lee appeared on the March 28 broadcast of KBS2’s “Immortal Songs” for a “2026 Entertainment King of Kings” special. After performing Choi Ho-seop’s “As Time Goes By,” Lee spoke about his recent life. Asked whether his two sons knew he was appearing on TV, Lee said they were now old enough to understand what he does. He said they did not really know when they were younger and thought he was a father who kept going to work out. He said that over four years, as he ended up taking time off because of “my mistake,” they came to understand more clearly. He became tearful, saying they did not say it directly but expressed it in a letter, adding that they wanted him to work. After the episode aired, many online commenters reacted coolly, leaving remarks such as, “Why does it have to be broadcasting — why not do manual labor?” and “He’s not a criminal, but it’s rare to be this disliked.” 2026-04-13 14:45:05 -
Korean LCCs streamline routes and payroll on Gulf war impact SEOUL, April 13 (AJP) - The Gulf war is not yet two months old, but South Korean low-cost carriers are already scaling back long-haul routes and trimming payroll as surging fuel costs and a weakening won curb overseas travel. T’way Air has begun accepting applications for unpaid leave from cabin crew, marking its first such program since August 2024, according to industry sources Monday. The airline said the move is intended to manage crew fatigue and adjust workloads following schedule changes. Industry officials, however, say it reflects mounting financial strain as the U.S.-Iran conflict drives up fuel costs and pressures the currency. T’way Air had already declared emergency management mode on March 16, becoming the first domestic carrier to take such action amid the crisis. The carrier has posted operating losses for two consecutive years, with a 12.3 billion won ($8.3 million) loss in 2024 widening sharply to 265.5 billion won in 2025, as higher fuel costs, exchange rate volatility and weakening demand compound its challenges. The strain is spreading across the low-cost carrier (LCC) sector. Data released by the office of Rep. Park Yong-gap showed that international flights operated by nine domestic LCCs fell from 40,111 to 39,006 in the month following the outbreak of the conflict, while cancellations rose from 479 to 604. Some carriers saw steeper pullbacks. Jin Air cut mid-haul flights by 27.7 percent, while T’way Air reduced operations by 12.6 percent but posted a cancellation rate of 31.2 percent. Cost pressures are being amplified by currency swings. Airlines typically pay for fuel, aircraft leases and maintenance in U.S. dollars, leaving them highly exposed to exchange rate volatility. The dollar has averaged close to 1,500 won in April, the highest since the 2008 global financial crisis. Jet fuel prices have also spiked, with Singapore benchmark aviation fuel rising to around $197 per barrel—more than double pre-conflict levels near $90—making it increasingly difficult to sustain marginal routes. Full-service carriers are not immune. Korean Air saw its long-haul cancellation rate jump from 0.2 percent to 3.9 percent after the conflict, largely due to airspace closures over Dubai and subsequent route adjustments. The government has begun preparing support measures. The Ministry of Land, Infrastructure and Transport issued a “concern” level resource security alert and launched a crisis response task force, while considering administrative support such as temporary relief on financial restructuring requirements. 2026-04-13 14:44:45 -
ST Pharm Secures Japan Patent for Key mRNA-LNP Ionizable Lipid ST Pharm said on the 13th it has completed patent registration in Japan for its ionizable lipid STP1244, a key raw material for its mRNA-LNP (messenger RNA-lipid nanoparticle) platform, STLNP, as well as an LNP formulation applying the lipid (STL1244). The company said the registration is the first granted patent tied to its STLNP platform. It said the patent is significant because it covers not only formulation technology but also a core ingredient that determines LNP performance, adding that the approval formally recognizes the technology’s originality and completeness. LNPs are essential carriers that deliver mRNA into cells, and ionizable lipids play a central role in delivery efficiency and endosomal escape. ST Pharm said STP1244, which it designed and developed in-house, helps improve intracellular delivery efficiency and supports delivery stability. With the patent, ST Pharm said it has built a technology portfolio spanning from key raw materials to finished formulations, strengthening its technical base as a CDMO in the fast-growing mRNA vaccine and therapeutics market. The company said it is pursuing patent examinations for the same technology in nine countries, starting with Japan and including South Korea, the United States, Europe and China, and plans to expand global rights. A company official said that, following last year’s Japanese patent registration for SmartCap, securing STLNP means ST Pharm now holds both core platform technologies for mRNA drug development. The official said the company will play a “pivotal role” in developing mRNA cancer vaccines and in-vivo CAR-T therapies.* This article has been translated by AI. 2026-04-13 14:36:00 -
Kumho Tire to supply tires for Škoda's electric SUVs SEOUL, April 13 (AJP) - Kumho Tire will supply original equipment (OE) tires to Czech automobile manufacturer Škoda Auto, the tiremaker said on Monday. Kumho's flagship Ecsta PS71 tires, designed to optimize handling and braking on both dry and wet roads, will be fitted on Škoda Auto's electric SUVs, the Enyaq and Elroq, both built on Volkswagen's MEB electric vehicle platform. Škoda Auto has been a wholly owned subsidiary of the Volkswagen Group since 2000. The tires, which began with passenger-car radial (PCR) sizes and have since expanded to SUV sizes, now feature a broad lineup capable of supporting major EV models. They incorporate an in-out tread design and hybrid technology to help maintain steering stability at high speeds, regardless of road conditions. "Škoda is one of the most popular brands in the European market, and the latest supply deal reflects recognition of Kumho Tire's product quality and technology," said Kim In-su, an executive at Kumho Tire. 2026-04-13 14:09:56 -
Exo starts world tour as 32,000 global fans fill Seoul arena SEOUL, April 13 (AJP) - K-pop boy band Exo members -- Suho, Chanyeol, D.O., Kai, and Sehun -- opened their sixth concert tour in Seoul last Friday. The group performed for 32,000 fans over three days at the KSPO Dome in southern Seoul, marking the band's first concert series in six years and four months. The three-day concert in Seoul proved that the group remains a major force in the K-pop scene despite a long break from the stage. Their last major tour was held in 2019, and this new series, titled "EXO PLANET #6 - EXhOrizon in SEOUL," is designed to show the group and their fans starting a new chapter together. The group performed a variety of their most famous songs, including 'MAMA' and 'Love Shot'. At the end of the final show, which was also streamed online to fans around the world, the members shared their feelings about returning to live performance. "I had worries since it was a performance after a long time, but seeing you smile gave me strength. EXO-L is like the four seasons of spring, summer, fall, and winter to us. Thank you for loving us without change for 14 years," the members said. "We said if forever exists, it would be our story, and it was possible thanks to all of you who kept that place until now. I want to be on stage with you for the rest of my life." The tour will now move to 14 different regions. The group is scheduled to perform in Ho Chi Minh on April 25. In May, they will visit Nagoya, Taipei, Bangkok, and Macau. The schedule continues in June with stops in Osaka, Jakarta, Hong Kong, and Kuala Lumpur, followed by performances in Manila, Tokyo, Kaohsiung, and Singapore in July. 2026-04-13 14:08:06 -
Korean stock turnover more than triples in Q1 amid heavy volatility SEOUL, April 13 (AJP) -South Korea’s stock market activity more than tripled in the first quarter, as heightened volatility following war-driven shocks disrupted the KOSPI’s red-hot rally and amplified trading momentum. According to the Korea Securities Depository Monday, the daily average value of stocks, bonds and other securities processed reached 35.8 trillion won ($26.5 billion) in the January–March period. The figure rose 31.6 percent from a year earlier and climbed 15.3 percent from the previous quarter, when the market’s record-breaking run gathered pace. Equities posted the sharpest gains. The daily average turnover of stock transactions, spanning both on- and off-exchange activity, came to 6.5 trillion won, jumping 77.9 percent from the prior quarter and more than tripling from a year earlier. On-exchange equity turnover — covering the KOSPI and KOSDAQ — averaged 2.9 trillion won per day, up 78.2 percent quarter-on-quarter. Institutional equity flows, representing transactions between brokerages and large investors, also advanced 77.6 percent to 3.6 trillion won. The increase was fueled by robust retail participation alongside sizable portfolio reshuffling by institutional investors. Bond activity continued to anchor the market, accounting for 81.8 percent of the total value processed. The daily average in the bond segment reached 29.3 trillion won, rising 7.0 percent from the previous quarter and 15.8 percent from a year earlier, sustaining a gradual upward trend. However, activity diverged across venues. On-exchange bond turnover slipped 0.1 percent from the prior quarter to 2.9 trillion won, while over-the-counter institutional bond flows expanded 7.8 percent to 26.5 trillion won, underpinning overall growth. The shift points to increased hedging demand and large-scale capital deployment by institutions amid heightened interest rate volatility. 2026-04-13 13:38:19