Journalist

Lee Hugh
  • GS Caltex beats Korea Expressway Corp. to win fourth V-League women’s title, first in five years
    GS Caltex beats Korea Expressway Corp. to win fourth V-League women’s title, first in five years GS Caltex won its fourth women’s V-League championship title on Saturday, beating Korea Expressway Corp. in the best-of-five finals. GS Caltex defeated Korea Expressway Corp. 3-1 (25-15, 19-25, 25-20, 25-20) in Game 3 of the 2025-2026 V-League women’s championship series at Jangchung Gymnasium in Seoul. After winning Games 1 and 2 at Gimcheon Gymnasium, GS Caltex clinched the title in its first home match of the series, completing a three-game sweep over the regular-season champion. It was GS Caltex’s fourth championship-series crown, following titles in 2007-2008, 2013-2014 and 2020-2021. The club returned to the top for the first time in five years, since the 2020-2021 season. With the win, GS Caltex moved into second place on the league’s all-time championship list. Heungkuk Life has the most titles with five. GS Caltex finished third in the regular season but went unbeaten in the postseason. It first eliminated Heungkuk Life in the league’s first-ever women’s semifinals (junior playoff), then swept Hyundai E&C 2-0 in the playoffs before going 3-0 against Korea Expressway Corp. in the finals. The run gave GS Caltex a 6-0 postseason record and an undefeated championship. A third-place regular-season team has now won the championship series four times: GS Caltex in 2007-2008 (3-1), Heungkuk Life in 2008-2009 (3-1), Korea Expressway Corp. in 2022-2023 (3-2), and GS Caltex again this season. GS Caltex also set several firsts in this postseason: the first third-place team to sweep the championship series 3-0, the first team to win the championship after playing in the junior playoff, and the first third-place team to win the finals without a loss. Silva anchored the title run. She scored 42 points against Heungkuk Life in the junior playoff, then had 40 and 32 points in Games 1 and 2 of the playoffs against Hyundai E&C. In the finals, she posted 33 points in Game 1 and 35 in Game 2, then added 36 points in Game 3 while playing through an injury. She averaged 36.3 points over six postseason matches.* This article has been translated by AI. 2026-04-05 16:12:00
  • Plan to Cut Fintech Fees on Savings Bank Loan Referrals Stalls Amid Dispute
    Plan to Cut Fintech Fees on Savings Bank Loan Referrals Stalls Amid Dispute The government’s push to lower referral fees that fintech platforms charge savings banks for arranging loans is running into resistance. The plan is aimed at easing borrowers’ interest burdens, but fintech firms say higher fee caps are unavoidable given the risk profile of their customers, many of whom have credit scores of 700 or below. As of April 5, the financial sector said the Financial Services Commission had planned to pursue fee cuts in the first half of this year, but has slowed its pace after pushback from the fintech industry. With platforms and savings banks still far apart, the commission plans to gather additional views from both sides. The two sides have clashed since last year over fees for refinancing loans at so-called second-tier financial institutions. Fintech platforms currently charge 0.8% to 1.3% to broker refinancing loans at nonbank lenders, up to about 10 times the 0.08% to 0.18% charged for commercial bank loans. Savings banks argue the fees should be lowered to commercial bank levels. Their annual payments to major loan-comparison platforms are estimated at 220 billion to 230 billion won. The industry has told the commission it would use any savings from lower platform fees entirely to cut loan interest rates. Fintech firms counter that treating the fees as a simple cost is unfair and could shrink inclusive finance. They say borrowers using smaller fintech platforms tend to have lower credit scores, making the customer base riskier than that of commercial banks and pushing up the upper end of fees. Fintech executives also warn that fee caps could threaten the survival of smaller platforms. One industry official said savings banks earn fee income whenever they collect loan interest, while fintech platforms receive a fee only once, when a loan is executed. “The user base is fundamentally different, so it makes no sense to demand a blanket cut to commercial bank levels,” the official said. Another fintech official said bank loan agents take fees as high as 3%, while fintech platforms receive about half that, adding that fairness should be considered because the change could reduce borrowing opportunities for mid- to low-credit customers. As a compromise, officials are discussing first cutting referral fees for policy-backed loans for low-income borrowers, such as Haetsal Loan. The idea is to lower fees on policy products first and test whether borrowers see a meaningful reduction in interest rates. 2026-04-05 16:06:23
  • Oral Obesity Drug Race Intensifies as Efficacy and Convenience Shape Choices
    Oral Obesity Drug Race Intensifies as Efficacy and Convenience Shape Choices Novo Nordisk’s move into oral obesity drugs is now being matched by Eli Lilly, widening competition in a market long dominated by injections. As pills gain ground, analysts expect patients and prescribers to weigh results against ease of use more sharply. Industry officials said the U.S. Food and Drug Administration on April 1 approved Lilly’s oral glucagon-like peptide-1, or GLP-1, obesity drug Foundayo (active ingredient: orforglipron). The agency’s decision came 50 days after the application, an unusually fast timeline that industry watchers said underscores regulators’ priority on obesity treatments. Novo Nordisk entered first with an oral version marketed as “Wegovy pill.” Novo’s product requires dosing on an empty stomach and limits on water intake around the time of use, while Lilly says Foundayo can be taken without restrictions on food or timing. Lilly is promoting it as a GLP-1 tablet that can be taken at any time. Pricing is set at a similar level. Lilly priced Foundayo roughly in line with oral Wegovy: $25 a month for insured patients and $149 for those without insurance. That is far below the monthly cost of existing injectable drugs, which can run into the millions of won in Korea. Weekly injections remain the standard in obesity care, but oral drugs could spread quickly in early-stage treatment because they are easier to take, the industry said. The result, officials said, is likely a clearer split in choices based on effectiveness, convenience and lifestyle. On weight loss, injections still lead. Lilly’s injectable Zepbound showed average weight loss of 15 to 21 kilograms over 72 weeks, and about one-third of patients on the highest dose lost at least 26 kilograms. Lilly’s clinical data showed participants taking the highest dose of Foundayo lost an average of 12 kilograms over the same period. Because it is taken daily, results may vary, but the pill could broaden access among patients who are reluctant to use injections, the company and industry officials said. An industry official called the shift a turning point as obesity drugs move from “specialty therapies” toward “mass-market consumer products,” adding that oral drugs are clearly gaining momentum but choices will differ by effectiveness, convenience and lifestyle. Over time, the market is likely to split into two tracks, the official said. Lilly plans to begin shipping Foundayo on April 6 through its LillyDirect platform, aiming to secure early demand via U.S. retail pharmacies and telehealth providers. The company has submitted Foundayo approval applications in more than 40 countries, starting with the United States. Some countries that have been cautious about reimbursing obesity drugs because of high prices may revisit coverage as relatively cheaper oral options emerge, industry officials said. Another official said the market is expanding alongside growth in chronic-disease management, and that insurance and reimbursement talks are likely to accelerate. 2026-04-05 16:03:00
  • Son Heung-min records 4 assists in one match, leads MLS assist race
    Son Heung-min records 4 assists in one match, leads MLS assist race LAFC's Son Heung-min delivered four assists in the first half to lead his team to a lopsided win in Major League Soccer. Son started and recorded assists Nos. 8 through 11 of the season in LAFC's 6-0 home victory over Orlando City in the sixth round of the 2026 MLS season on April 5 (Korean time) at BMO Stadium in Los Angeles. It was the first time in his career he has had four assists in a single match. With the performance, Son moved into sole possession of the MLS lead in assists this season and raised his total goal contributions to 12 (one goal, 11 assists). He did not score, however. Son has gone nine straight official matches without a goal since his season opener on Feb. 18, when he had one goal and three assists in a 6-1 win over Espana (Honduras) in the CONCACAF Champions Cup. That goal came from the penalty spot, and he still has no non-penalty goal this year. Son started as the lone striker in a 4-2-3-1 and helped force an own goal in the seventh minute, sending in a low cross from the right that deflected off a defender and into the net. From the 20th minute, Son combined repeatedly with Denis Bouanga of Gabon, setting up three goals by the 28th minute. On a counterattack in the 20th, Son slipped a through ball into space behind the defense for Bouanga, who finished with a right-footed chip. Three minutes later, Son played a long pass to Bouanga, who curled a right-footed shot from inside the penalty area to make it 3-0. In the 28th, Son threaded a well-timed pass near the box and Bouanga ran onto it to score again. Son completed his four-assist half by setting up fullback Sergi Palencia of Spain in the 38th minute. Son played until the 57th minute before being substituted. Soccer statistics site FotMob gave Son a match-high rating of 9.8. 2026-04-05 14:51:00
  • Mideast Tensions Stoke Korea’s Strong Dollar, Inflation Fears, Pressuring Banks
    Mideast Tensions Stoke Korea’s Strong Dollar, Inflation Fears, Pressuring Banks Rising geopolitical risk tied to the Middle East is increasingly hitting South Korea’s financial markets with a double shock: a weaker won and higher inflation. With oil prices and the exchange rate climbing at the same time, pressure on consumer prices is building, raising concerns the path of the policy rate could shift and adding to strain across the financial sector. According to the Korea Center for International Finance on Saturday, the average 2026 consumer inflation forecast from eight major global investment banks rose to 2.4% at the end of March from 2.0% at the end of February, an increase of 0.4 percentage points. Such a jump in the average outlook in just one month is unusual. South Korea relies on the Middle East for about 70% of its oil resources, leaving it directly exposed to energy-price shocks. The won-dollar exchange rate moving above 1,500 won has also pushed up import costs. If the Middle East situation drags on, the Bank of Korea is expected to raise its benchmark rate once or twice in the second half of the year, which could increase interest burdens for households and companies and weigh on the real economy. Those risks are also sharpening concerns about the soundness and profitability of financial holding companies and banks. If high rates and high inflation persist together, repayment capacity for households and businesses can weaken, lifting delinquency rates. The industry is watching closely for a buildup of potential bad loans, especially in sectors sensitive to the business cycle. A higher exchange rate can also increase risk-weighted assets, adding pressure to manage common equity Tier 1 (CET1) ratios. The financial industry estimates that every 10-won rise in the won-dollar rate could lower financial groups’ CET1 ratios by about 0.01 to 0.03 percentage points. To offset that, groups are expected to step up loan-loss provisions and tighten risk-weighted asset management. Funding costs are rising as well. While banks’ funding rates are climbing quickly due to higher market rates and intensifying competition for deposits, loan demand is showing signs of slowing as high borrowing costs combine with measures to manage household debt. With net interest income accounting for around 80% of financial groups’ earnings, a narrower net interest margin would translate into weaker profits. Financial groups moved to emergency management systems soon after the Middle East crisis erupted and have stepped up risk responses. They shifted to real-time monitoring of exchange-rate moves and their impact, checked foreign-currency deposit liquidity, and focused on foreign-currency soundness management. They have also continued sending customer alerts to help clients navigate volatility in exchange rates and stock prices. Annual business plans drawn up earlier are now likely to be revised. Plans were based on an expected average won-dollar rate of about 1,410 this year, but the March average was 1,492.5 won, the highest monthly level since the financial crisis. With market conditions deteriorating faster than expected, firms are being forced to review overall business strategies. 2026-04-05 14:48:00
  • The Kings Warden continues successful box-office run, drawing 16 million viewers
    'The King's Warden' continues successful box-office run, drawing 16 million viewers SEOUL, April 5 (AJP) - Director Jang Hang-jun's "The King's Warden" has attracted over 16 million viewers in about two months after its release in early February, the film's distributor said on Sunday. According to Showbox, the period drama drew about 153,000 moviegoers last Saturday alone to surpass 16 million in cumulative theater attendance since its release on Feb. 4, making it the third film to reach the milestone after the 2014 historical epic "The Admiral: Roaring Currents" which drew 17.6 million at the time of its release and the 2019 comedy "Extreme Job" with 16.2 million. Although "The King's Warden" was dethroned last weekend by Hollywood sci-fi blockbuster "Project Hail Mary" after weeks of box-office dominance, many viewers continue to return to theaters to watch the film more than once, and it could surpass "Extreme Job" to become the country's second-biggest box-office hit. The 117-minute film tells the story of Danjong, the sixth king of the Joseon Dynasty, who was exiled to Yeongwol, Gangwon Province. 2026-04-05 14:46:31
  • Oh Soo-min Takes Third at Augusta National Women’s Amateur, Best Finish by a South Korean
    Oh Soo-min Takes Third at Augusta National Women’s Amateur, Best Finish by a South Korean Oh Soo-min of Shinseong High School finished third at the Augusta National Women’s Amateur, the best result by a South Korean player in the event’s history. Oh shot a 4-under 68 with four birdies in the final round on April 5 (Korea time) at Augusta National Golf Club in Augusta, Georgia, a par-72 course. She ended the tournament at 9-under 207 to take sole possession of third place. The previous best finish by a South Korean player was a tie for fifth by Lim Ji-yu in 2023. “I was happy just to make it to the final round. Just playing at Amen Corner made me feel good. I wanted to take in those moments,” Oh said. “I think this experience will help me a lot.” Yang Yun-seo, also in the field, tied for fourth at 8-under 208. Kim Gyu-bin tied for 15th at 4-under 212, and Park Seo-jin tied for 27th at even-par 216. Colombia’s Jose Marin won the title at 14-under 202. The tournament, founded in 2019, began with 72 players who played the first two rounds at Champions Retreat Golf Club in Georgia. After the second round, the top 30 took a day off before playing the final round at Augusta National, home of the Masters. If the winner remains an amateur, she can compete in the event for the next five years and receives invitations to women’s major championships in that season.* This article has been translated by AI. 2026-04-05 14:06:00
  • LGs clothing-care machine surpasses 2 million units in cumulative global sales
    LG's clothing-care machine surpasses 2 million units in cumulative global sales SEOUL, April 5 (AJP) - LG Electronics' clothing-care contraption, called the LG Styler, has sold over 2 million units in cumulative global sales, the home-appliance giant said on Sunday. The milestone comes just five years after over 1 million units were sold in 2021, about a decade after its release in 2011. The machine, which resembles a combination of a wardrobe and a fridge, removes odors, dust, and wrinkles while sterilizing clothes, all without the time-consuming effort of washing. It is now sold in 27 countries worldwide. Sales have surged particularly in Asia and North America, with revenue in China, Taiwan, and the U.S. jumping more than 30 percent last year. LG credited its popularity in Asia to clothing habits involving uniforms and suits that aren't washed often, combined with keen interest in hygiene. LG said the machine, built on advanced technology with more than 200 patents, sanitizes 99.99 percent of harmful bacteria and viruses and removes over 99 percent of 18 types of everyday odors. It added that a moving hanger inside the LG Styler rotates up to 350 times per minute to reduce dust and wrinkles, with the latest version adding a feature that analyzes garment weight and suggests the optimal styling. "We will further strengthen our position in the global market by integrating artificial intelligence (AI) into core components and technologies," said Son Chang-woo, a manager in LG's home appliance division. 2026-04-05 12:31:21
  • Refiners hit by avalanche of woes as crude volatility, supply risks mount
    Refiners hit by avalanche of woes as crude volatility, supply risks mount SEOUL, April 5 (AJP) - A surge in oil prices has given domestic refiners a short-term boost, but industry watchers warn that their gains may quickly evaporate as market volatility and supply constraints are expected to continue amid the prolonged conflict in the Middle East. At least until last month, refiners managed to keep operations steady by relying on existing inventories and alternative supplies, but risks are rising as crude prices swing sharply and securing feedstock becomes increasingly difficult. As of March, exports of petroleum products including gasoline, diesel, and naphtha surged to US$5.11 billion, with an average unit price of $925 per ton, up 33.3 percent from the same period last year. Dubai crude, which accounts for the largest portion of South Korea's crude imports, soared to $128.5 a barrel last month, up from $72.5 a year earlier. Over the same period, international gasoline prices rose to $128.8 from $79.6, while diesel jumped to $192.8 from $86.5. The country's four major refiners - GS Caltex, HD Hyundai Oil Bank, SK Innovation, and S-Oil - which earn over half their revenue from overseas sales, are expected to post stronger first-quarter results thanks to rising exports. Refining margins, which measure the profit from turning crude oil into products like gasoline and diesel, also jumped to $29.3 a barrel in March from $11.8 in February, further boosting their sales, according to Hana Securities. They were able to maintain operations at certain levels as tankers that had left the Persian Gulf before the Middle East crisis arrived. However, after a 2-million-barrel shipment reached South Korea on March 20, supplies under long-term contracts that usually pass through the Strait of Hormuz reportedly stopped. Refiners are now turning to spot purchases of Middle Eastern crude that bypasses the Strait of Hormuz, a critical chokepoint for roughly one-fifth of the world's oil supply, while also seeking alternative supplies from the U.S. and Africa. But intensifying competition among Asian refiners is pushing prices even higher. Some of them are reportedly considering temporary shutdowns, adjusting scheduled maintenance, or cutting operations to minimum levels. "Until March, we were able to manage with our inventories, but crude and petroleum prices are now highly volatile, making it difficult to predict what comes next," said an industry insider. "The uncertainty is so severe that we can't even see a day ahead." 2026-04-05 11:40:42
  • Korea Bio, Health Exports Top $4.16B in Q1 Despite War-Driven Uncertainty
    Korea Bio, Health Exports Top $4.16B in Q1 Despite War-Driven Uncertainty South Korea’s bio and health exports topped 6 trillion won in the first quarter, extending growth despite external uncertainty including war in the Middle East. The Korea Biopharmaceutical Association said Sunday that exports from January through March totaled $4.16 billion (about 6.3 trillion won). March exports rose 6.3% from a year earlier to $1.5 billion (about 2.3 trillion won). February increased 7.1% to $1.31 billion (about 2 trillion won), and January climbed 18.3% to $1.35 billion (about 2.035 trillion won). The association said biosimilars drove the gains, citing expanding demand in major markets including the United States and the European Union. It said exports have risen for five straight months. In the United States, about 90% (106) of biopharmaceuticals scheduled to lose patent protection from 2025 to 2034 have no biosimilar candidates in development, the association said, adding that Europe faces a similar situation. South Korean companies are expanding their presence on the back of those opportunities. Korea was named the country with the most U.S. Food and Drug Administration biosimilar approvals for two consecutive years in 2024 and 2025, the association said. Biosimilar exports rose 50% to $1.47 billion (about 2.2 trillion won) in 2022 from $980 million (about 1.4 trillion won) in 2021. The association forecast bio and health exports will rise 9% this year to $30.4 billion (about 46 trillion won), topping last year’s record $27.87 billion (about 42 trillion won).* This article has been translated by AI. 2026-04-05 11:15:00