Journalist

Lee Hugh
  • SEVENTEEN Renews Contract With Pledis Entertainment for Second Time
    SEVENTEEN Renews Contract With Pledis Entertainment for Second Time SEVENTEEN has announced a second contract renewal with its agency, Pledis Entertainment. The group delivered the news on the final night of its encore concerts April 4-5 at Incheon Asiad Main Stadium, which wrapped its world tour that began at the same venue in September. Including the encore shows, SEVENTEEN performed 31 times in 14 cities worldwide, drawing more than 900,000 fans. Leader S.Coups told the crowd the members plan to stay together with Pledis. “We will keep rowing forward together in the same boat,” he said, adding that the group is preparing for its second renewal with the company. The members cited their fandom, CARAT, as a key reason for renewing. They said they wanted to tell everyone they love them and asked fans to “wait a little longer,” saying they would “return as 13 soon.” They also said they would continue unit and solo work while staying close to fans. Jeonghan and Wonwoo, who are fulfilling mandatory military service, attended from the audience in support. SEVENTEEN will continue both unit and group activities. DK and Seungkwan will hold “DXS ‘Soya-gok’ On Stage” from April 17-19 at Inspire Arena in Incheon. S.Coups and Mingyu will stage “CXM ‘Double Up’ Live Party” from April 24-26 at Kaohsiung Arena. The group is also set to hold its “2026 SEVENTEEN 10TH Fan Meeting ‘SEVENTEEN in CARAT LAND’” on June 20-21 at Incheon Asiad Main Stadium.* This article has been translated by AI. 2026-04-06 11:21:16
  • South Korea closes gap with China in global shipbuilding orders
    South Korea closes gap with China in global shipbuilding orders SEOUL, April 6 (AJP) - Despite an overall decline in global ship orders, South Korea increased its share last month, narrowing the gap with China, according to data released by London-based Clarkson Research Services on Monday. In March, South Korea won orders totaling 1.59 million compensated gross tons (CGT) for 38 ships, accounting for about 39 percent of the global market, while China secured 2.15 million CGT for 84 ships, taking a 53 percent share. In February, South Korea's share was just 11 percent, compared with China's 80 percent. Global ship orders reached 4.06 million CGT for 135 vessels, down 36 percent from February's 6.38 million CGT, but up 31 percent from a year earlier. Clarkson's index measuring the cost of building new ships stood at 182.07 in March, down 0.07 percentage points from the previous month, but it is considered very high. By type of vessels, prices were $248.5 million for a liquefied natural gas (LNG) carrier, $129.5 million for a very large crude carrier, and $260 million for an ultra-large container ship. 2026-04-06 11:18:52
  • Korean and Japanese stocks higher on tech optimism
    Korean and Japanese stocks higher on tech optimism SEOUL, April 06 (AJP) - Asian equities rose modestly Monday as investors weighed conflicting signals from the Middle East, with U.S. President Donald Trump setting an April 7 deadline ahead of potential strikes on Iranian power grids while OPEC+ pledged a limited output increase, as tech-heavy Korea and Japan outperformed ahead of strong semiconductor earnings. Japan’s Nikkei 225 gained 1.15 percent to 53,733.44, while Korea’s KOSPI advanced 1.4 percent to 5,452.80. Chinese markets were closed for the Qingming Festival holiday, and Hong Kong’s Hang Seng Index was shut for Easter. The secondary KOSDAQ initially rose 0.71 percent but later reversed course, slipping 0.29 percent to 1,060.71. Oil market concerns eased slightly after OPEC+ agreed to raise output by 206,000 barrels per day from May. The increase, however, represents less than 2 percent of the estimated disruption linked to the Strait of Hormuz, where more than 12 million barrels per day have been affected, according to the International Energy Agency. While the scale suggests limited immediate relief, the move signaled producers’ willingness to stabilize markets, lending modest support to risk sentiment. Semiconductor stocks led gains in Seoul. Samsung Electronics rose 3.49 percent to 192,700 won ahead of its preliminary first-quarter earnings release on Tuesday, with expectations that quarterly operating profit could approach or exceed last year’s full-year level of 43.6 trillion won amid the ongoing memory chip boom. Consensus estimates compiled by FnGuide put operating profit at around 38 trillion won. SK hynix also climbed 2.05 percent to 894,000 won, with Shinhan Securities forecasting first-quarter revenue at 50.4 trillion won, up 53.5 percent from the previous quarter, and operating profit at 35.5 trillion won, up 85.1 percent. Othe large-cap stocks were mixed. Hyundai Motor fell 0.32 percent, while Kia rose 1.00 percent and Hyundai Mobis edged down 0.26 percent. Defense and shipbuilding shares showed limited direction. Hanwha Aerospace slipped 0.55 percent, Hanwha Ocean fell 1.33 percent, and Hyundai Heavy Industries edged up 0.10 percent. Biopharmaceutical shares posted modest gains despite emerging trade risks. Samsung Biologics rose 0.39 percent and Celltrion gained 0.31 percent after the United States announced new tariff measures targeting patented pharmaceuticals under Section 232 of the Trade Expansion Act. The measures include tariffs of up to 100 percent on certain patented drugs and ingredients, with implementation scheduled from late July through September. However, products from countries with trade agreements — including Korea — will face a reduced tariff of around 15 percent. Generic drugs and biosimilars, along with related materials, are exempt from tariffs for one year, limiting the near-term impact. Financial stocks also edged higher. KB Financial Group rose 0.21 percent, Shinhan Financial Group gained 0.87 percent, and Samsung Life Insurance advanced 1.36 percent. On the KOSDAQ, Samchundang Pharm surged 5.40 percent after its largest shareholder withdrew a planned block deal, easing concerns over a potential large share sale and addressing doubts over the scale of its U.S. supply contract. The won remained relatively stable, with the dollar trading at 1,508.80 won, compared with 1,505.2 won at Friday’s close. 2026-04-06 11:04:26
  • BTS becomes first K-pop act with multiweek No. 1 on Billboard 200
    BTS becomes first K-pop act with multiweek No. 1 on Billboard 200 SEOUL, April 06 (AJP) -BTS’ fifth studio album "ARIRANG" remained at No. 1 on the Billboard 200 for a second consecutive week, which is the first time a K-pop act defended No. 1 beyond one week. According to a chart preview released Saturday (local time), the album held off new releases including "BULLY" by Kanye West, which debuted at No. 2, and "HADES" by Melanie Martinez at No. 3. The Billboard 200 ranks albums based on a composite metric of album units. It combines physical and digital sales, streaming equivalent albums (SEA), and track equivalent albums (TEA). The chart performance followed the release of the group’s "2.0" music video. The video, released four days ago, has drawn 27.74 million views on YouTube as of April 6. A behind-the-scenes clip uploaded 14 hours ago has reached 1.74 million views. On the Spotify Daily Global Chart, BTS placed four tracks within the top 20. "SWIM" remained at No. 1 with 7,716,554 streams. "Body to Body" ranked No. 7 with 3,754,874 streams. "2.0" followed at No. 13 with 3,360,525 streams, while "Hooligan" placed No. 16 with 3,133,948 streams. 2026-04-06 11:02:54
  • GM Korea signals full turnaround as it pays out first regular dividend
    GM Korea signals full turnaround as it pays out first regular dividend SEOUL, April 06 (AJP) - General Motors Korea said it will pay its first regular dividend to shareholders, marking the clearest sign yet that the once-ailing Korean unit of the U.S. automaker has completed a turnaround eight years after its Gunsan plant was shuttered and billions of dollars in public and private capital were mobilized to prevent its collapse. The automaker's board approved an interim dividend on April 3, though the company did not disclose the payout's size in its public filing on Sunday. Industry observers estimate the distribution could run into trillions of won, given that GM Korea's unappropriated retained earnings exceeded 4 trillion won ($2.64 billion) after the company converted capital surplus reserves into distributable earnings. The dividend caps a rescue that began in 2018 when General Motors' Korean unit was on the brink of bankruptcy, weighed down by complete capital erosion and mounting losses. The closure of its Gunsan factory in North Jeolla Province sent shockwaves through the domestic auto supply chain and raised fears that the Detroit parent would abandon the Korean market altogether. Under a bailout agreement finalized that year, GM converted about $2.8 billion in loans to equity and committed fresh capital, while the state-run Korea Development Bank injected $750 million in preferred shares. In return, GM pledged to maintain its stake and allocate two new vehicle models to its remaining plants in Bupyeong, west of Seoul, and Changwon in the southeast. Those models — the Trailblazer and the Trax Crossover — proved pivotal. By concentrating production on compact SUVs aimed at North American buyers, GM Korea swung to a profit in 2022 and posted operating income exceeding 1 trillion won in both 2023 and 2024, according to the company's press release. The Korean unit sold about 462,000 finished vehicles last year, with 96.8 percent shipped overseas. Ahead of the dividend, GM moved to preempt any revival of speculation that it might be laying the groundwork for an exit. The company announced in March that it would invest $600 million in its Korean plants to upgrade press machinery and modernize production lines, building on an earlier commitment made in late 2025. GM Korea President and CEO Hector Villarreal said the investment reflects the company's confidence in its local workforce and operations. "We have a strong foundation, and this investment is a sign of confidence in our operations," he said. The capital restructuring that paved the way for the dividend — shifting reserves from a capital surplus account to retained earnings — is a well-established practice under Korea's Commercial Act and has been employed by other major Korean firms to expand shareholder returns. The move is not legally contentious, as the law permits companies to reduce capital reserves through a shareholder resolution and redirect the funds toward dividends. The government and KDB are unlikely to publicly oppose the payout as restricting a foreign-invested company from distributing profits could invite accusations of discriminatory treatment a 2026-04-06 11:02:45
  • Two low-budget South Korean films invited to compete at Moscow Intl Film Festival
    Two low-budget South Korean films invited to compete at Moscow Int'l Film Festival SEOUL, April 6 (AJP) - Two low-budget South Korean films have been invited to compete at this year's Moscow International Film Festival, which opens in Russia next week. According to festival organizers at a press conference last week, "Journey There" and "Winter Light" will vie for the top prize in the main competition along with about a dozen other films at the 48th Moscow International Film Festival, which is scheduled to take place in the Russian capital from April 16 to 23. "Journey There" directed by Kim Jin-yu, tells the story of a woman who, after her husband's sudden death, faces her own illness and tries to carry out the assisted suicide the two had planned together. Director Cho Hyun-suh's "Winter Light" revolves around a boy who cares for his deaf sister and hopes for one last trip with his girlfriend, but unexpected things get in the way. In addition, two other films – documentary "In the Sea of Strange Thoughts" and short film "Nowhere, Somewhere" have also been invited to compete in their respective competition sections. Meanwhile, the prestigious annual festival will feature about 200 films this year including 19 international premieres and 96 Russian premieres. 2026-04-06 10:45:36
  • OPINION: Koreas Hanwha Group investment in time
    OPINION: Korea's Hanwha Group investment in time The strength of a company is not captured by numbers alone. Revenue, profit, assets and market capitalization reflect performance in a given moment. But how a company chooses to engage with the world — the philosophy it lives by — emerges outside those figures. This is why building schools and nurturing people carries a different weight. It is not merely an act of corporate social responsibility. It is a statement about how a company understands the future — and where it chooses to invest time. That is what made Hanwha Group Chairman Kim Seung-youn’s visit to Bugil Academy last week more than ceremonial. Marking the 50th anniversary of Bugil Academy, Kim wrote in the guestbook: “Let us build the next 100 years of Bugil, filled with passion for learning and growth.” In his remarks, he urged students to “stand on the shoulders of those who came before and grow into leaders who will shape the future.” More than 1,300 students, faculty and alumni attended the event. The message resonates because of how Bugil began. The school was founded in 1976 by Hanwha’s late founder, Kim Chong-hee, who donated scholarships without limit under the belief that “education is the fundamental cornerstone of a nation’s century-long future.” Even today, the statement feels unusually weighty. Building a business to generate wealth is expected of an entrepreneur. Choosing to redirect that wealth into education — into people — is a different kind of decision. A factory and a school may both be built structures, but their purposes diverge. A factory produces output. A school produces time. One delivers for today. The other prepares what comes next. It is in this distinction that Kim Seung-youn’s brand of entrepreneurship becomes clearer. His presence at the anniversary was not simply about honoring a founder’s legacy. It was about reaffirming that legacy as a living corporate philosophy. Kim served as chairman of the Bugil Foundation for more than three decades, from 1981 to 2014, helping shape Bugil High School into a leading private institution. Many companies speak of legacy. Few institutionalize it. Words fade. Systems endure. Schools remain. Alumni remain. The values and capabilities cultivated through education diffuse into society over time. What Kim has sustained is not just a school, but the institutionalization of a philosophy. Entrepreneurship is often described through expansion — risk-taking, decisive investment, scaling into new industries. These are real attributes. But they are not sufficient. Companies that endure ultimately depend on their ability to recognize, develop and retain people. Without that, scale becomes superficial. Growth expands outward but lacks depth. This is what gives Kim’s visit its broader significance. His emphasis on learning, growth and future leadership signals how Hanwha defines continuity. Business portfolios change. At different points, chemicals, defense, energy or finance take center stage. But beneath those shifts lies a constant: people. Technology can be acquired. Talent cannot be manufactured overnight. Yet this is precisely where many Korean companies struggle. They speak of talent, but operate on immediacy. Hiring is framed as long-term investment, but in practice favors immediate productivity. Training is emphasized, but often among the first costs to be cut. The result is a system adept at using people, but less patient in developing them. Against this backdrop, Bugil’s 50 years carry a different message. Education is slow. But it is the most reliable form of investment. Sustaining a school over five decades is not an outcome that appears in quarterly earnings. It reflects a longer horizon — one that values possibility over efficiency, continuity over immediacy. That kind of time horizon is rare in corporate decision-making. In that sense, Kim’s entrepreneurship is less about expansion than accumulation. Acquisitions and global market growth matter. But building a foundation of people — steadily, deliberately — matters more. Commemorating 50 years of Bugil while speaking of the next 100 is a reminder that a company’s future cannot be separated from the pace at which its people grow. The anniversary, then, is not only about Bugil. It poses a broader question to corporate Korea: What does your company leave behind? Numbers on a balance sheet, or a foundation others can stand on? Companies that generate profit may succeed. Companies that cultivate people endure. Education, scholarships, training — these are not peripheral activities. They define the level at which a company operates, not just how it is perceived. Fifty years of Bugil is a record of time invested in people. One hundred years of Hanwha remains unfinished. What will determine that future is unlikely to be different. Not how quickly people are used, but how long they are developed. That is where the true measure of a company is drawn. *The author is a columnist of AJP. 2026-04-06 10:30:28
  • Woori Bank Names 15 Branches as ‘100-Year’ Locations in Heritage Push
    Woori Bank Names 15 Branches as ‘100-Year’ Locations in Heritage Push Woori Bank said Monday it will designate 15 branches that have operated for more than a century as “100-year branches” as it marks its 127th anniversary. The list includes the Jongno Financial Center, Seoul City Hall Financial Center, Incheon Branch, Jeonju Financial Center and Dongnae Financial Center, among others. The bank said it will install plaques and monuments reflecting each branch’s history and tradition, highlighting their role as local financial hubs and expressing gratitude to customers. Woori Bank also said it has developed a new “heritage” design to strengthen its brand identity and will apply it across customer touchpoints. The design will be introduced first on everyday items such as shopping bags and business cards so customers can more readily recognize the bank’s history and brand value while using its services. “Woori Bank’s 127-year history was possible thanks to the trust of customers and local communities,” a bank official said. “By spotlighting our 100-year branches, we will reaffirm that value and continue strengthening our role as a financial partner.” 2026-04-06 10:09:01
  • South Korea, France Sign Deal to Cooperate on Preserving Jongmyo Shrine and Saint-Denis Basilica
    South Korea, France Sign Deal to Cooperate on Preserving Jongmyo Shrine and Saint-Denis Basilica South Korea and France have agreed to cooperate on the preservation and management of Jongmyo Shrine and the Basilica of Saint-Denis.  The Korea Heritage Service said it held a high-level heritage meeting with France’s Ministry of Culture on April 2 at the Fairmont Ambassador Seoul in Yeongdeungpo-gu, Seoul, and that its Royal Palaces and Tombs Center and the ministry-affiliated Centre des Monuments Nationaux signed a memorandum of understanding.  In December 2022, the Korea Heritage Service — then known as the Cultural Heritage Administration — and the Centre des Monuments Nationaux signed a letter of intent to promote exchanges in cultural heritage. The new MOU, pursued as part of outcomes from a South Korea-France summit, builds on that document and calls for cooperation on systematic preservation and management of the two sites, reflecting shared historical and cultural characteristics.    The Basilica of Saint-Denis, a Gothic church in Saint-Denis north of Paris, was built around the fifth century as a monastic church. From the seventh century, it served as a royal burial site, housing the remains of 43 kings, 32 queens, and 60 princes and princesses across multiple dynasties.  At the high-level meeting held alongside the signing, Korea Heritage Service Administrator Heo Min and French Culture Minister Catherine Pégard agreed to expand exchanges in the heritage field, including site visits linking representative cultural assets, expert exchanges and mutual promotional efforts. They also discussed events planned for June to mark the 140th anniversary of diplomatic ties.  The Korea Heritage Service said it will continue working with France and other countries to broaden cooperation in the heritage sector and expand opportunities to promote Korea’s national heritage and its capacity to preserve and use it worldwide. * This article has been translated by AI. 2026-04-06 09:45:17
  • Samhchundang Pharm CEO Withdraws $1.9 Billion Share Block Sale Plan
    Samhchundang Pharm CEO Withdraws $1.9 Billion Share Block Sale Plan Samhchundang Pharm said Monday that CEO Jeon In-seok has withdrawn a 250 billion won ($1.9 billion) plan to sell shares in a block deal that was disclosed March 24. The company said the sale, originally intended to raise funds to pay taxes, had been misunderstood in the market and was weighing on the company’s value. Jeon said he decided to pull the deal amid growing distrust and concerns it could damage shareholder value. The planned sale was meant to cover taxes including gift tax, but some in the market raised suspicions that the size of a U.S. supply contract had been exaggerated. “There were no falsehoods in the contract details,” Jeon said, adding that he could not “leave the situation as it is” when negative allegations could harm shareholders. He said protecting the company’s underlying value took priority over meeting his personal financial obligations. Samhchundang Pharm said it will hold an afternoon news briefing to explain the withdrawal, allegations related to S-PASS and details of the U.S. contract. The company is said to be considering alternatives such as stock-backed loans instead of selling shares to pay the taxes. It said the approach is aimed at stabilizing the share price and reinforcing its commitment to responsible management. Samhchundang Pharm said it will proceed with its business plans without disruption, with key milestones ahead including additional global supply contracts in the second half of this year and clinical trials for oral insulin.* This article has been translated by AI. 2026-04-06 09:42:52