Journalist

Lee Hugh
  • Ahn So-hee Says She Misses the Stage but Will Focus on Acting
    Ahn So-hee Says She Misses the Stage but Will Focus on Acting Wonder Girls member Ahn So-hee has shared her plans for future work. A video titled “Actor Ahn So-hee” was posted on March 26 to the YouTube channel “Insaeng84.” Ahn said she recently appeared in the play “Geuttaedo Oneul 2,” which ended last month. She said the two-person production was physically demanding, and that she played four roles, calling it a work that required significant energy both physically and emotionally. When Kian84 asked whether she would sing again, Ahn said she has shifted her focus to acting only. She said she does not regret the decision or feel disappointed, but added that she misses it. She said she used to enjoy being onstage for concerts. Ahn said the energy she receives as a singer is different from what she gets in theater, describing theater as quieter and more intensely focused. She said she misses the stage, but that theater has filled much of that, adding that she started doing plays the year before last and has continued without a break.* This article has been translated by AI. 2026-03-27 09:36:15
  • South Korea to Cut Generic Drug Pricing to 45% of Brand-Name Level, Industry Warns of R&D Hit
    South Korea to Cut Generic Drug Pricing to 45% of Brand-Name Level, Industry Warns of R&D Hit The government will lower the benchmark used to set prices for generic drugs to about 45% of the price of original medicines, down from 53.55%. The pharmaceutical industry says the cut, combined with supply uncertainty tied to the Middle East conflict, could curb research and development spending and worsen job insecurity. According to the industry on the 27th, the Health Insurance Policy Deliberation Committee approved the drug-pricing overhaul at a meeting the previous day. It is the first broad revamp since a across-the-board cut in 2012, and the new pricing system is set to take effect in the second half of this year. The Health Ministry said it will phase in the adjustments over 10 years through 2036 to limit the impact on the industry. For drugs already listed, the rollout will be staged based on the listing year, with the first phase covering medicines listed in 2012 and the second phase covering those listed from 2013 onward. The so-called stepwise price cut, previously applied starting with the 20th generic, will be tightened to begin with the 13th generic. The industry has pushed back since the government announced a plan in November to lower generic prices into the 40% range of original drugs. Drugmakers said they could accept a reduction to 48.2%, about 10% lower, but the government proposed lowering the level to “43% or 45%,” leaving the sides at odds. A pharmaceutical company official said concerns have grown because the decision did not settle at 48.2%, adding that the change would begin to weigh on operating profit in earnest starting next year. The official said companies could move beyond cutting costs and selling and administrative expenses to reducing labor costs, raising job insecurity. A small and midsize drugmaker official said an immediate drop in operating profit is unavoidable and that smaller firms, which have limited ability to develop new drugs in the near term, would be hit harder. With raw-material supply instability linked to the Middle East war spreading to the domestic industry, some warned that investment decisions for new-drug development could be halted. A major drugmaker official said operating profit already fell last year and that, considering the coming price cuts, decisions on investment in new-drug development would be “all stop.” The official added that companies’ moves to cut labor costs would also become reality. 2026-03-27 09:09:00
  • Foreign investors dumped nearly 20 trillion in South Korean stocks last month
    Foreign investors dumped nearly 20 trillion in South Korean stocks last month SEOUL, March 27 (AJP) - Foreign investors offloaded nearly 20 trillion Korean won (US$12.98 billion) worth of South Korean shares last month, extending their selling streak to a second consecutive month, according to data released by the Financial Supervisory Service on Friday. Foreign investors net sold 19.56 trillion won worth of shares - including 19.31 trillion won on the benchmark KOSPI and 239 billion won on the junior KOSDAQ - resulting in a net outflow of 12.13 trillion won in February. They instead shifted toward bonds, snapping up 7.43 trillion won worth for a fourth consecutive month. As of the end of February, foreign investors held 2,026 trillion won worth of listed stocks here, accounting for about 32.6 percent of the market. By country, the U.S. led with 838.19 trillion or 41.4 percent of total foreign holdings, followed by Europe at 31.8 percent, Asia at 13.8 percent and the Middle East at 1.8 percent. Foreign holdings of local bonds, meanwhile, continued to grow, rising 6.8 trillion won from the previous month to 337.3 trillion won, accounting for 12 percent of the total. 2026-03-27 09:01:51
  • Singer Lee Ji-hye Says Daughter Moved to Public Kindergarten After English Preschool Closed
    Singer Lee Ji-hye Says Daughter Moved to Public Kindergarten After English Preschool Closed Singer and TV personality Lee Ji-hye said her younger daughter transferred from an English-language preschool to a public kindergarten after the preschool announced it was shutting down. A video titled “Why Lee Ji-hye’s daughter transferred to a public kindergarten after giving up English preschool? (Early English education)” was posted on March 26 to her YouTube channel, “밉지않은 관종언니.” Lee said she received a notice from the English preschool attended by her second daughter, Ellie, saying the school would close. “Tae-ri (my first daughter) graduated from there, and Ellie naturally went there too, so when I heard it was going away, I panicked,” she said. Lee said the English preschool assigned homework such as reading vocabulary words. She said Tae-ri followed instructions without much difficulty, but Ellie “absolutely didn’t want to do it.” Lee added that she decided it was not the right age to force her to do things she disliked, and began looking into public kindergartens. After Ellie moved to a public kindergarten, Lee said she was pleased with the change. “After switching kindergartens, Ellie started washing her hands on her own, eating on her own, and even learned to greet people,” she said.* This article has been translated by AI. 2026-03-27 08:57:22
  • INTERVIEW: AI may turn Koreas inward finance into strategic edge: Carstens
    INTERVIEW: AI may turn Korea's inward finance into strategic edge: Carstens SEOUL, March 27 (AJP) - Unlike globally recognized industrial giants such as Samsung, LG and Hyundai, South Korea’s financial sector remains relatively underexposed overseas — yet its domestic orientation could become a strategic advantage in the era of artificial intelligence, a former top central banker said. Artificial intelligence is set to fundamentally reshape financial intermediation, from payments to supervision, according to Agustín Carstens, former general manager of the Bank for International Settlements. “AI will facilitate what we call ‘agentic payments,’ but, more importantly, it will significantly enhance the efficiency of transaction settlement,” Carstens said in an interview with AJP. He added that AI-enabled transparency could materially lower compliance costs by allowing regulators to monitor financial institutions in real time. “If regulators have continuous access to banks’ balance sheets and can assess them rapidly using AI, the need for heavy and costly reporting frameworks diminishes considerably,” he said. Carstens also pointed to growing momentum behind South Korea’s digital currency initiatives, particularly the Bank of Korea’s won-based stablecoin project, under incoming governor Shin Hyun-song — a former BIS colleague. Shin’s appointment comes at a critical juncture for financial innovation. Carstens underscored his expertise in tokenization, central bank digital currencies and AI-driven financial systems. “Through the BIS, we have undertaken extensive work on tokenization, central bank digital currencies and the broader impact of AI on the economy,” he said. “He is a leading expert in these areas and is well positioned to sustain the Bank of Korea’s momentum in advancing the digitalization of the financial system.” Carstens was in Seoul to speak at the 19th Asia-Pacific Financial Forum (APFF) 2026, hosted by Aju Business Daily, which this year examined why Korea’s financial sector has lagged its industrial base in global reach. However, longer-term digital ambitions remain contingent on near-term macro risks. South Korea’s energy-dependent economy is highly exposed to disruptions in the Middle East, particularly via the Strait of Hormuz, a critical artery for global oil and gas flows. “Korea depends significantly on energy supplies that transit the Strait of Hormuz,” Carstens cautioned. “Any disruption there could have immediate and material consequences for key sectors of the economy.” Such geopolitical shocks, he added, could weigh on the manufacturing and digital backbone of the economy — even as AI opens a pathway for structural upgrading in finance. 2026-03-27 08:53:57
  • Samsung SDI to acquire stake in precursor maker Fino to secure battery supply chain
    Samsung SDI to acquire stake in precursor maker Fino to secure battery supply chain SEOUL, March 27 (AJP) - Samsung SDI is set to invest about 30 billion won ($19.8 million) in Fino, a South Korea-listed subsidiary of China's CNGR Advanced Material, as part of efforts to strengthen its battery materials supply chain. Fino released regulatory filing Thursday it had approved a rights issue of about 14.29 million new shares through a board resolution. Samsung SDI will subscribe to about 6.13 million shares, or about 40 percent of the offering, at an issue price of 4,897 won per share to secure an estimated 7.5 percent stake in the company. The investment is aimed at securing supply chain stability from the precursor stage of battery production, a critical upstream material used in manufacturing cathodes. Precursors account for 70 to 80 percent of cathode production costs. Fino is building domestic production facilities through CNP New Material Technology, a joint venture with POSCO Future M, with production lines for both nickel-cobalt-manganese and lithium iron phosphate cathode materials. Samsung SDI is ramping up its energy storage system business in the United States through StarPlus Energy, a joint venture with Stellantis in Indiana. The company has secured more than 3.5 trillion won in ESS battery supply contracts with U.S. energy firms since late last year. The move comes as Washington tightens restrictions on Chinese-origin materials in ESS batteries, pushing Korean battery makers to reduce their reliance on Chinese suppliers to meet subsidy requirements under U.S. energy legislation. 2026-03-27 08:48:03
  • Seoul enforces ban on naphtha exports for 5 months amid supply crunch
    Seoul enforces ban on naphtha exports for 5 months amid supply crunch SEOUL, March 27 (AJP) -South Korea will keep domestic naphtha at home after its shortage from the widened conflicts in the Middle East has crippled a cracking facility, sending downstream ripples across factory floors to plastic delivery bags and cartons. The Ministry of Trade, Industry and Energy on midnight Friday issued a gazette enforcing ban on naphtha exports immediately for five months as a part of a package of "wartime" measures that included deeper and longer cuts to fuel tax and supplementary budget. Naphtha is an essential feedstock for producing petrochemical materials used by industries including semiconductors and autos. South Korea relies on imports for 45 percent of domestic demand, and supplies from the Middle East — which account for 77 percent of imports — have been disrupted by the war, the ministry said. The government previously supported efforts to secure alternative import sources, including those from Russia after Washington lifted some sanctions, and designated naphtha as an economic security item, making it eligible for low-interest financing through a supply chain fund. As the situation dragged on, it moved to stronger steps, including shifting restricted export volumes to the domestic market and banning hoarding. Under the notice, exports of all naphtha are restricted in principle, with exceptions allowed only with approval from the industry minister. Naphtha businesses (refiners) and users (petrochemical companies) must report daily to the ministry on production, imports, use, sales and inventories. Hoarding is prohibited. If a naphtha business’ weekly shipment ratio drops by more than 20 percent from 2025 without a reasonable explanation, the minister can order steps such as adjusting sales and inventories. The government can also order refiners to produce naphtha and take supply-adjustment measures to ensure naphtha produced domestically or brought in from overseas is supplied to specific petrochemical companies. According to industry minister Kim Jung-kwan, “Because naphtha is a basic raw material that supports South Korea’s industry, the government will secure as much volume as possible through support for overseas procurement.” He urged cooperation so that naphtha and related petrochemical products are distributed and managed in line with the purpose of the new notice. “The government will supply naphtha as a top priority so there is no impact on health care, key industries and the production of essential goods,” Kim added. The emergency step comes as supply disruptions have already begun to hit production lines. One of the country’s largest naphtha cracking centers has been forced to halt operations due to feedstock shortages, according to industry sources, amplifying concerns over a broader shutdown across the petrochemical chain. The shock is cascading into everyday goods. Plastic processors and packaging firms are reporting delays in securing raw materials, while distributors warn of tightening supplies of garbage bags and industrial films, echoing early signs of hoarding in retail channels. Seoul is also weighing more controversial options to plug the supply gap. Officials said the government is in talks with industry players over the possibility of resuming imports of Russian crude oil and naphtha, a move that would require easing sanctions imposed after Moscow’s invasion of Ukraine. South Korea halted Russian crude imports in December 2022, though the country previously relied on Russia for about 5.6 percent of its crude supply. Since then, dependence on the Middle East has deepened, leaving the economy more exposed to disruptions around the Strait of Hormuz — a chokepoint through which roughly 70 percent of the country’s crude and about half of its naphtha imports pass. Finance Minister Koo Yun-cheol earlier signaled the shift toward more interventionist policy, describing the export curb and stockpiling controls as necessary to stabilize supply chains under what the government views as wartime conditions. Whether the measures can fully contain the fallout remains uncertain. Without a de-escalation in the Middle East, industry officials warn that shortages could persist, raising the risk of prolonged disruptions not only in petrochemicals but across manufacturing sectors that rely on plastic and synthetic materials as foundational inputs. 2026-03-27 07:29:30
  • Korea Golf Course Managers Association Holds Annual Meeting on Tax, Labor Changes
    Korea Golf Course Managers Association Holds Annual Meeting on Tax, Labor Changes The Korea Golf Course Managers Association said Thursday it held its 2026 annual general meeting over two days, March 25-26, at Maison Glad Jeju and Golfzon County Ora CC. Advisers, an honorary chair, auditors and CEOs from member companies attended. The group reviewed last year’s projects and approved its financial statements, while discussing responses to fast-changing conditions in the golf course industry. The association shared the outcome of an appeals court ruling in a lawsuit over an agreement fee involving law firm Cheonjiiin, in which the plaintiff’s claims were dismissed and the defendant golf course prevailed. It said the decision is expected to serve as a key precedent for the same case involving more than 90 member companies, and it plans to respond actively if the case goes to the Supreme Court. Members also discussed tax changes aimed at easing management burdens. The association reported it is forming a consultative body on property tax and the individual consumption tax, and said it will pursue petitions and other government outreach to seek an end to higher property tax rates and the abolition of the individual consumption tax. Labor issues were another main agenda item. The association said it analyzed the impact of the “Yellow Envelope Act,” a revision to the Trade Union and Labor Relations Adjustment Act that took effect March 10, including expanded bargaining rights for caddie unions. It said it will hold briefings for members and distribute response guidelines. It also released a simulation estimating that adopting a “worker presumption system,” which shifts the burden of proof to employers, would add about 16.2 billion won in annual costs for an 18-hole course. It said it has set five response strategies, including policy recommendations. The association also discussed switching its membership fee calculation from a system based on the number of visitors to a flat fee based on the number of holes, citing fairness among members and administrative efficiency. Choi Dong-ho, the association’s chairman, said the meeting brought the association and its members together to seek proactive responses to issues that could “shake the foundation” of the golf industry, including the Yellow Envelope Act and the proposed worker presumption system. He said the association will continue to work to protect members’ interests and support the industry’s sustainable development.* This article has been translated by AI. 2026-03-26 18:21:00
  • Asian stocks fall on oil surge; Korea slides as wartime response fails to convince
    Asian stocks fall on oil surge; Korea slides as "wartime" response fails to convince SEOUL, March 26 (AJP) — Asian equities fell across the board Thursday as oil prices hovered near the $100-per-barrel threshold and geopolitical tensions deepened, with Seoul markets brushing off the government’s so-called “wartime” response. Despite tentative talk of an endgame to the Middle East conflict, markets showed little conviction. Risk aversion held firm across the region. Japan’s Nikkei 225 slipped 0.3 percent to 53,603.7, China’s Shanghai Composite fell 1.1 percent to 3,889.1, Hong Kong’s Hang Seng dropped 2.1 percent to 24,804.8 and Taiwan’s TAIEX edged down 0.3 percent to 33,337.6. But the heaviest selling pressure landed in Seoul — a clear vote of no confidence in the government’s emergency package. The benchmark KOSPI plunged 3.2 percent to close at 5,460.5, after swinging between an intraday high of 5,598.4 and a low of 5,448.1, reflecting a familiar pattern of institutional and foreign selling met by retail dip-buying. Foreign investors dumped 3.09 trillion won ($2.10 billion), with institutions offloading an additional 339 billion won. Retail investors stepped in as the sole net buyers, purchasing 3.05 trillion won. The tech-heavy KOSDAQ fell 2.0 percent to 1,136.64, with foreigners selling 301.6 billion won and institutions shedding 134.1 billion won, while retail investors bought 484.9 billion won. Heavyweight tech names led the decline. Samsung Electronics dropped 4.7 percent to 180,100 won and SK hynix slid 6.2 percent to 933,000 won, as concerns mount over a slowdown in AI-driven investment. Hyundai Motor fell 2.2 percent and LG Energy Solution lost 2.4 percent. The government said it had deployed “all possible policy means and mix,” ranging from deeper fuel tax cuts to supplementary budgeting and bond market stabilization measures. Markets, however, were unconvinced — reading the package less as decisive intervention than as a sign policymakers are running short on options beyond short-term fixes. That skepticism was most visible in the bond market. The buyback offered only a modest lift to short-dated debt while triggering a selloff at the long end, effectively flipping the policy signal on its head. The two-year government bond yield fell 2.2 basis points to 3.489 percent, with the three-year largely unchanged at 3.552 percent. Further out the curve, yields surged: the 20-year rose 3.9 basis points to 3.880 percent and the 30-year climbed 4.6 basis points to 3.762 percent — a steepening move that signals investors are demanding higher long-term risk premiums despite near-term liquidity support. In effect, the market is pricing in persistent inflation and supply-side risks tied to the oil shock, even as authorities attempt to contain immediate volatility. The Korean won weakened to 1,507 per dollar, reinforcing the broader risk-off mood. 2026-03-26 18:14:36
  • BTS comeback detonates across screens, streets and systems within a week
    BTS comeback detonates across screens, streets and systems within a week SEOUL, March 26 (AJP) — It has been barely a week since BTS dropped its first full-member studio album in six years and staged a comeback performance in downtown Seoul livestreamed to nearly 20 million viewers on Netflix — and the aftershock is already everywhere. The group has not paused for breath. Fans across the world are flooding platforms with dance challenges to the title track “SWIM,” its hypnotic hook now echoing from smartphones to city streets. What would normally take weeks to build has unfolded in days. Within that span, BTS cycled through a tightly orchestrated global rollout — a fan event in New York, real-time engagement on YouTube and a late-night television appearance — compressing what used to be a promotional arc into a continuous surge. Following their appearance on The Tonight Show Starring Jimmy Fallon, clips spread at viral velocity. The interview alone drew a combined 750,000 views within two hours, while performance videos surpassed 320,000 views and 90,000 likes in the same narrow window. The March 21 performance at Gwanghwamun Square entered Netflix’s weekly Top 10 in 80 countries, ranking No. 1 in 24, while generating 2.62 billion impressions across social media — a scale that underscores not just reach, but saturation. The numbers reveal something more structural beneath the frenzy. On music platforms, the album Arirang surpassed 4.06 million in sales within days. Streaming patterns show the lead track “SWIM” topping 68 million plays, while multiple B-sides followed closely, each pulling between roughly 29 million and 38 million streams — a distribution that suggests engagement is spreading across the album rather than concentrating on a single hit. Video platforms show a parallel dynamic. The official “SWIM” music video crossed 68 million views within six days, while a performance clip uploaded midweek added another 7 million in rapid succession. Together, the data points to a dual-track ecosystem — one driven by passive viewing, the other by active participation. That shift is already visible on the ground. “The choreography is everywhere right now. As soon as the performance video dropped, people started copying it,” said Kang Na-eun, a 29-year-old elementary school teacher in Seoul’s Mapo district. “I’ve never seen it spread this fast.” “Usually it takes time for something like this to circulate, but this time it feels instant. It’s not just something you watch — it’s something you feel pulled into,” she added. Even machines have joined the wave. AI-generated dance clips — from animated dogs to stylized avatars — are circulating alongside fan covers, some drawing over 1.5 million views within days. What began as imitation has quickly morphed into reinterpretation, with algorithms now reproducing and remixing choreography at a speed comparable to human fandom. The boundary between audience and creator is dissolving in real time. Geographically, the comeback has expanded just as rapidly. Less than 24 hours after the Gwanghwamun performance, BTS was airborne to the United States — moving from a public square in Seoul to a Spotify-hosted event in New York, and then to American late-night television. The sequence reads less like a tour and more like a synchronized relay across platforms and continents. Taken together, the rollout illustrates how K-pop releases are no longer singular events but engineered continuums — designed to sustain momentum across formats, time zones and modes of engagement. But the scale has also invited scrutiny. “From the moment the album took the name ‘Arirang,’ it carried expectations beyond music,” said critic Jang Jun-hwan. “Attention was focused as much on what it represents as on what it sounds like.” He added that while the production is expansive, cohesion is less certain. “The album is highly refined, but many tracks feel individually polished rather than fully integrated.” Music critic Kim Do-heon framed the shift more bluntly. “What this comeback shows is that the phenomenon surrounding the music — performance, scale, context — is becoming as important as the music itself,” he said. That phenomenon has spilled into the physical city. In central Seoul, the Gwanghwamun performance triggered traffic controls, safety installations and large-scale crowd management — temporarily reshaping how the capital functions. “When a cultural event begins to alter the operation of a city, it raises questions about public space itself,” Kim noted. In the span of a single week, BTS’s comeback has moved across screens, systems and streets — unfolding not as a moment, but as a rolling event that continues to expand even after the stage lights dim. 2026-03-26 18:14:28