Journalist

Lee Hugh
  • Drone exhibiition DSK 2026 kicks off in Busan
    Drone exhibiition "DSK 2026" kicks off in Busan Busan, February 25 (AJP) - Asia’s leading drone exhibition and conference, DSK 2026 (Drone Show Korea), kicked off Wednesday at BEXCO in Busan, running through Feb. 27. Co-hosted by Busan Metropolitan City, the Ministry of Trade, Industry and Energy, the Ministry of Land, Infrastructure and Transport, the Ministry of National Defense and the Korea AeroSpace Administration, the event marks its largest edition to date. This year’s exhibition features 318 companies from 23 countries across 1,200 booths, covering 26,508 square meters. An international conference will bring together 48 speakers from 13 countries to discuss emerging technologies including artificial intelligence, defense, future mobility and the New Space industry. Organizers said the event aims to serve as a global platform for industry networking and business opportunities, alongside interactive programs for visitors. 2026-02-25 17:18:31
  • GC Pharma Anthrax Vaccine Wins Korea New Drug Grand Prize; Dongkook, Daewoong, SK Biopharm Updates
    GC Pharma Anthrax Vaccine Wins Korea New Drug Grand Prize; Dongkook, Daewoong, SK Biopharm Updates GC Pharma’s Baritrax Injection wins top prize at Korea New Drug Awards GC Pharma said Feb. 25 that Baritrax Injection, the world’s first recombinant anthrax vaccine co-developed with the Korea Disease Control and Prevention Agency, will receive the grand prize at the 27th Korea New Drug Awards on Feb. 27. Lee Jae-woo, head of development at GC Pharma, and Kang Ji-eun, product manager for Baritrax Injection, will also be honored for their contributions, receiving commendations from the minister of science and ICT and the president of the Korea Health Industry Development Institute, respectively. The Korea New Drug Awards are hosted by the Korea Drug Development Research Association and supported by the ministries of science and ICT, health and welfare, and trade, industry and energy. The awards were established in 1999 to recognize drug and technology achievements that contribute to the growth of South Korea’s bio and health industries. Baritrax Injection received marketing approval in April last year as South Korea’s 39th domestically developed new drug and its third domestically developed new-drug vaccine. Unlike conventional methods that use nonpathogenic anthrax bacteria, it produces and purifies only the protective antigen protein — a key component of anthrax toxin — using recombinant technology, a feature the company said significantly improves safety. Clinical trials confirmed strong safety and robust immunogenicity. GC Pharma said few companies globally supply anthrax vaccines, calling Baritrax Injection a symbolic achievement in localizing production of strategic vaccines. The company said its safety profile is a key differentiator and supports competitiveness for future entry into global markets. Dongkook Pharmaceutical’s Centellian24 steps up North America push Dongkook Pharmaceutical said Feb. 25 it held a “private breakfast” event in New York on Feb. 2 for beauty editors and major influencers to promote its Centellian24 brand. The event introduced the brand story and key products and offered hands-on experiences with items including Madeca Cream Time Reverse, the PDRN line, the matcha line and the new Madeca Prime Max device. A networking session included a Q&A on the products. The company said social media posts after the event generated more than 3.3 million exposures. Dongkook Pharmaceutical also participated under the Centellian24 brand in “2026 Cosmoprof Miami,” North America’s largest B2B beauty trade show, held from Feb. 2 to 29. The company said the show drew about 19,000 industry professionals and distributors from 115 countries and about 900 brands. Dongkook Pharmaceutical said it introduced the brand, core skin-care technologies and new product lines and held consultations with about 100 buyers. Daewoong Pharmaceutical targets global obesity market with painless microneedles Daewoong Pharmaceutical said Feb. 25 it signed a global exclusive license agreement with Daewoong Therapeutics for products based on microneedle technology. Under the deal, Daewoong Pharmaceutical will take charge of areas requiring investment, including global marketing and commercialization, while Daewoong Therapeutics will pursue its own business using the technology and expand its applications. Daewoong Pharmaceutical said it is developing an obesity treatment that applies GLP-1 drugs, including semaglutide, to a microneedle patch. It is conducting a Phase 1 trial of a “semaglutide patch” and plans to expand indications to include maintenance therapy after weight loss, building a pipeline covering the full course of obesity treatment. The company said the patch uses a process that does not apply heat to preserve key ingredients and delivers high-dose drugs precisely through about 100 microneedles in a coin-sized area. It said aseptic manufacturing supports stability and a once-weekly application improves convenience. SK Biopharmaceuticals named a “2026 Great Place to Work” in South Korea SK Biopharmaceuticals said Feb. 25 it was selected as a “2026 Great Place to Work” in South Korea by the Great Place to Work Institute, earning certification for a fourth straight year. The company ranked 23rd in the core “100 Best Companies to Work For in South Korea” list. It also received recognition in two additional categories: “Best Workplace for Parents in South Korea” and “Global ESG Human Rights Management Certification,” for a total of three awards. In an individual category, President Lee Dong-hoon was named “Most Respected CEO in Korea” for a second consecutive year, the company said, citing evaluations of his open communication and trust-based leadership. Since taking office, Lee has held one-on-one meetings with all employees, meetings by organization and monthly town hall meetings to build a flexible workplace culture. Lee Dong-hoon, president of SK Biopharmaceuticals, said, “We will continue to accelerate our leap into a global big biotech by fostering a culture of growth with our employees, and we will be a company that fulfills its social responsibilities.”* This article has been translated by AI. 2026-02-25 17:16:44
  • Arts Council Korea, 10 Partners Form Network to Expand Children’s and Youth Theater
    Arts Council Korea, 10 Partners Form Network to Expand Children’s and Youth Theater Arts Council Korea, known as ARKO, signed a multilateral memorandum of understanding with 10 organizations on the 24th at the ARKO KkumBat Theater to promote children’s and youth arts and expand awareness of its value. Participating organizations include the Gwangjin Cultural Foundation, the National Children and Youth Theater Company, the International Association of Theatre for Children and Young People (Korea), the Geumcheon Cultural Foundation, the Nowon Cultural Foundation, the Bucheon Cultural Foundation, the Seoul Foundation for Arts and Culture, the Yongin Cultural Foundation and the Jongno Cultural Foundation. Under the agreement, the organizations will cooperate on developing works and co-producing projects for children and teens; jointly planning and operating programs at performance venues for young audiences; and exchanging human, material and other resources to broaden access to cultural and arts experiences for children and youth. ARKO said the partnership is expected to connect areas that had been run separately — creation support, venue operations and festival management — into a more integrated system. In particular, works selected for the 2026 Arts Support Program for Children and Youth will be presented in coordination with children’s theaters, ARKO said. ARKO also plans to pursue practical, field-focused cooperation through creation and production projects led by the National Children and Youth Theater Company and the International Association of Theatre for Children and Young People (Korea), along with joint efforts tied to programming at children’s performance venues. ARKO Chairperson Jeong Byeong-guk said the agreement is “a starting point” for more closely linking creation, distribution and audience access through cooperation among children’s and youth arts organizations. He added that ARKO will continue working toward a sustainable cooperation model so children and teens can experience art in everyday life, reflecting voices from the field. * This article has been translated by AI. 2026-02-25 17:12:16
  • Korea’s Petrochemical Industry Welcomes 2 Trillion Won Support, Seeks Tailored Aid by Complex
    Korea’s Petrochemical Industry Welcomes 2 Trillion Won Support, Seeks Tailored Aid by Complex The petrochemical industry welcomed the government’s approval of its first sector restructuring plan and a 2 trillion won package of financial and tax support, saying it could ease pressure after a prolonged downturn and China-driven oversupply that has sharply hurt profitability. Industry officials said Wednesday the package is a positive step, but its scope and effectiveness will depend on how it is carried out. They pointed in particular to the inclusion of financing, calling it the biggest change. Companies have pursued self-help measures and cost cuts as conditions worsened, but new government funding had been virtually absent. A petrochemical industry official said it was encouraging that relevant ministries worked together on a comprehensive package, adding that the support could speed up facility integration that had been delayed by funding burdens. The official said it will be important whether tailored support continues during the restructuring process based on each company’s circumstances. Cho Nam-su, CEO of HD Hyundai Chemical, who attended a meeting hosted by the Ministry of Trade, Industry and Energy at KOTRA in Seoul, said, “I think the government has done its best,” and added, “Based on this support package, we will do our utmost to become a model case that does not disappoint the government.” The industry also expects the approved consolidation of HD Hyundai and Lotte Chemical’s naphtha cracking center, or NCC, facilities in the Daesan complex to accelerate restructuring talks in Yeosu and Ulsan. Companies see the Daesan project’s conditions and support level as a potential benchmark for future negotiations. Yeosu and Ulsan have not yet submitted final restructuring plans to the ministry. With more companies clustered there than in Daesan, coordinating interests over measures such as NCC output cuts has been difficult. In Yeosu, options including shutting down the third plant of Yeocheon NCC, a joint venture between Hanwha Solutions and DL Chemical, and a shutdown at Lotte Chemical have been reviewed, but no conclusion has been reached. LG Chem and GS Caltex have agreed only to close aging facilities, while clashing over issues including the equity structure of their joint venture. In Ulsan, SK Geo Centric, Daehan Oil & Chemical and S-OIL are discussing a restructuring plan, but have not narrowed differences over whether to include S-OIL’s Shaheen Project among targets for cuts. By contrast, the industry voiced disappointment over electricity-cost relief. The government proposed using a “distributed special zone” system to apply power rates 4% to 5% cheaper than those of Korea Electric Power Corp., but critics said generation capacity and the scope of application are limited. The Korea Chemical Industry Association said it “sincerely welcomes and appreciates,” on behalf of the industry, the swift approval of the first petrochemical restructuring project with active cooperation from government ministries and related agencies. But it said measures to ease the burden of industrial electricity rates were not sufficiently reflected in the Daesan package. It added that, from the standpoint of industrial competitiveness, a broader review of the overall industrial electricity-rate system is needed.* This article has been translated by AI. 2026-02-25 17:06:28
  • Samsung TV Veteran Lee Seung-hyeon Announces Bid for Seoul Mayor
    Samsung TV Veteran Lee Seung-hyeon Announces Bid for Seoul Mayor “ I will make Seoul’s heart beat strongly.” Lee Seung-hyeon, chairman of Infac Korea and a businessman often described as a “Samsung man,” made the pledge on the 25th as he formally announced his bid for Seoul mayor. He spoke at a book concert in Seoul’s Jongno district marking the publication of his book, “Make Seoul’s Heart Beat Again,” held at the Korea Buddhist History and Culture Memorial Hall. Lee said Samsung Chairman Lee Kun-hee told people in Seoul 34 years ago not to be intimidated, including in front of Japanese people, and that the message shaped him. Calling himself a CEO who can do business with anyone, Lee said he would “report” his ideas as the CEO of “Seoul Inc.” Born in 1958 on Eoryongdo, a small island in Wando County, South Jeolla Province, Lee worked as a Samsung Electronics representative in Japan and later served as the first PM group head for Samsung Electronics LCD TVs. He is credited with helping lift Samsung TVs to No. 1 in global market share. He now leads Infac Korea and also serves as senior vice chairman of the Korea-U.S. Alliance Foundation, a non-standing vice chairman of the Korea International Trade Association, and head of the lay association at Jogyesa Temple. Lee repeatedly argued that Seoul needs change. “Just as a heart must move to beat, Seoul must change,” he said, stressing innovation. He said what he learned from Samsung founders Lee Byung-chul and Lee Kun-hee was change and innovation, adding that a leader’s foresight and vision can determine the fate of a country and a company. He said that in the late 1990s, Samsung TVs were stacked in a corner of U.S. retail stores and sold to international students with limited means, but that he helped make Samsung TVs the world’s top brand. He also described himself as a key figure who laid the foundation for “electronics powerhouse” South Korea. Lee said Seoul has “lost its engine,” arguing that young people in their 20s and 30s are leaving for jobs in Gyeonggi Province and overseas. “Seoul has no middle,” he said, citing a lack of vision and good jobs, and warning that the city could “grow old and die” if nothing changes. He presented a plan to build a “world No. 1 Seoul,” listing seven major pledges: hosting the 2036 Summer Olympics in Seoul; creating “20-minute living zones,” including an underground bus terminal in Itaewon; joint public-private use of Seongnam Airport; attracting global corporate headquarters; establishing public boarding schools in northern Seoul; sharply easing regulations on ultra-high-rise mixed-use buildings; and building an AI trade center. Lee said an AI trade center would help small business owners use AI to do business worldwide without language barriers, and that self-employed people should be able to export anywhere around the clock. Attendees at the book concert included Ven. Wonmyeong, chief monk of Jogyesa Temple; Lee Ki-nam, a former justice minister; Yang Hyang-ja, a Supreme Council member of the People Power Party; Choi Jae-hyung, a former Board of Audit and Inspection chairman; and Kim Yong, a chair professor at Paichai University. In congratulatory remarks, Yang said Lee was at the center when Samsung TVs “conquered” the global market, calling it history not only for Samsung but for the world. She described him as someone who steps forward even when the path is difficult and supports others even when it is painful. 2026-02-25 17:04:25
  • KDB to Pick Mega-Project Investments No. 2 and 3 This Month, Expanding Regional Funding
    KDB to Pick Mega-Project Investments No. 2 and 3 This Month, Expanding Regional Funding Korea Development Bank said it will broaden the National Growth Fund’s investment focus beyond advanced strategic industries to include small and midsize companies outside the Seoul metropolitan area, stepping up efforts to support more balanced regional growth. The state-run lender plans to complete selection of follow-on “mega-project” investments under the 150 trillion won fund within this month, aiming to ease a capital-centered growth structure and build multiple growth hubs. KDB Chairman Park Sang-jin said at a news briefing Tuesday at the bank’s headquarters in Seoul’s Yeouido district that, after naming the Sinan Ui offshore wind power project as the fund’s first investment, the bank will select the second and third investments later this month. “We plan to approve all investments in the seven mega-projects within the first half of the year,” Park said. KDB is the operator of the 150 trillion won National Growth Fund and is responsible for identifying mega-projects and overseeing overall fund management. Park said early candidates were reviewed mainly in advanced strategic industries with broad spillover effects, such as semiconductors and artificial intelligence, but future projects are being considered with a greater focus on regions and smaller companies. To widen participation by regional firms with limited access to information, KDB plans to hold briefings by region in March and April. Park said the bank will take a proactive approach so local companies are not left out because of information gaps, including seeking out firms that need support. Park said KDB will also expand regional financial support. He said the bank will increase its preferential regional special products to 15 trillion won this year from 10 trillion won last year and plans to supply a total of 30 trillion won to non-capital regions this year. Beyond the National Growth Fund, he said KDB will create additional regional growth funds, including a regional revitalization investment fund, to tailor financing to local demand. Park also addressed the planned relocation of HMM, in which KDB holds a stake, to Busan and the bank’s future divestment plans. He said the Ministry of Oceans and Fisheries and the Korea Ocean Business Corp. have presented a schedule to complete the move in March and April, adding that KDB will actively support the relocation once it is confirmed. On a potential sale of HMM, Park said the overarching principle of divestment remains in place, but it is not at a stage to be pursued immediately. He said the bank will review whether to proceed after the Busan relocation is completed. KDB and the Korea Ocean Business Corp. are HMM’s largest shareholders, holding 35.42% and 35.08%, respectively. The two institutions have maintained a phased sale policy after providing a total of 6.9 trillion won in support since 2016.* This article has been translated by AI. 2026-02-25 17:03:00
  • Welcome to the Coffee Republic of Korea
    Welcome to the Coffee Republic of Korea SEOUL, February 25 (AJP) -South Korea’s passion for coffee was on full display this week as the 2026 Seoul Cafe & Bakery Fair Season 1 opened at SETEC in southern Seoul. The four-day exhibition runs from Feb. 25 to 28. The fair brings together the full spectrum of the cafe and bakery industry — from specialty coffee and artisanal bread to desserts, beverages and franchise services. Visitors can also attend consulting programs on startup planning and store operations. The venue is organized into themed halls, including “Roastery B” for specialty coffee and roasting brands, “Tea Village” for traditional and blended teas, “Zero Planet” for eco-friendly food and beverage products, and “Korea Spirit Festa” for alcoholic beverage brands. Korea’s deepening coffee culture is reflected in trade data. According to Korea Agro-Fisheries & Food Trade Corp., citing figures from the Korea Customs Service, coffee imports reached about 2.65 trillion won in 2025 — a record high and more than 40 percent higher than a year earlier. Import volume totaled roughly 215,000 tons. Adding to the atmosphere, the Korea Latte Art Championship is being held alongside the fair, drawing skilled baristas and enthusiastic crowds. The exhibition continues through Feb. 28 at SETEC in Seoul’s Gangnam District — a fitting stage for a country that has firmly established itself as one of the world’s most devoted coffee cultures. 2026-02-25 16:54:10
  • South Korea targets $740 billion in exports this year
    South Korea targets $740 billion in exports this year SEOUL, February 25 (AJP) - South Korea is aiming to boost exports by diversifying markets, extending its growth streak into a second consecutive year. At a meeting in Seoul on Wednesday, Minister of Trade, Industry and Energy Kim Jeong-gwan unveiled plans to reach an export target of $740 billion this year. The goal follows last year's record $709.7 billion, which was driven by a historic surge in semiconductor exports. Citing growing uncertainty in the global trade environment following a U.S. Supreme Court ruling that found the International Emergency Economic Powers Act (IEEPA) unlawful, the ministry said it will respond by aggressively diversifying exports as it aims to become one of the world's five largest exporting countries. The ministry aims to nurture eight key export sectors such as consumer goods, power equipment, bio health, defense, nuclear power, automobiles, ships, and steel by hosting expos and other activities. The ministry will also expand cooperation among relevant agencies to secure Canada's submarine project, while pursuing new orders for nuclear power plants. Among a range of measures, a record 275 trillion won will be allocated to help exporters secure liquidity and to support roughly 500 firms with overseas shipments exceeding $10 million, along with additional support for those in strategic and advanced industries including artificial intelligence (AI)-related technologies. Kim said, "Amid unprecedented global uncertainty, we will turn this crisis into an opportunity through a proactive strategy to diversify our export markets." 2026-02-25 16:44:26
  • Min Hee-jin offers to forgo 25.6 billion won to end all legal disputes with HYBE
    Min Hee-jin offers to forgo 25.6 billion won to end all legal disputes with HYBE Min Hee-jin, former CEO of HYBE sublabel ADOR and now CEO of OK Records, said she is willing to give up the 25.6 billion won she would receive after winning a first trial in a stock-sale payment lawsuit against HYBE, if the company agrees to halt all civil and criminal legal disputes. At a news conference on Tuesday afternoon, Min said, “If I put down the 25.6 billion won, I ask HYBE to stop all ongoing civil and criminal lawsuits and disputes.” She said her proposal would also cover ending all complaints and accusations involving not only her but also NewJeans members, outside partner companies and ADOR employees. Min said the main reason was “because of the NewJeans members,” adding, “It is painful that someone has to be on stage while someone else has to be in court.” She added, “You can’t create good culture with a heart torn to pieces.” On Feb. 12, the Seoul Central District Court’s Civil Division 31 ruled for Min in her lawsuit seeking payment for a stock sale. The court said HYBE must pay her about 25.5 billion won in put option proceeds. However, it accepted HYBE’s request to suspend enforcement, meaning forced collection is on hold until an appeals court ruling. Min’s remarks about NewJeans were seen as referring to issues including ADOR’s termination of its contract with member Danielle and a damages lawsuit. “HYBE and I belong not in court but on the creative stage,” Min said. She said she regretted not being able to complete the creative vision she had when launching NewJeans, and added she hoped HYBE’s promise to treat the group well if it returns would become reality. She also called for an environment where “all five” can pursue their dreams freely, saying the 25.6 billion won “is not bigger than a healthy K-pop ecosystem and artists’ peaceful daily lives.” Min appeared at the news conference in a black jacket and looked calmer than at her previous appearance. Referring to the recent ruling, she said the court found allegations such as an attempted management takeover and tampering were not true. Min recently launched the new label OK Records and announced plans to develop a rookie boy group. OK Records also plans to hold auditions. “I will take a new path as CEO of OK Records, leaving behind the label of former ADOR CEO,” Min said. “I hope there will be no more wasteful news conferences after today.” 2026-02-25 16:30:21
  • GM Korea Union Appeals Court Rejection of Bid to Block Service Center Closures
    GM Korea Union Appeals Court Rejection of Bid to Block Service Center Closures GM Korea’s labor union said Tuesday it will appeal a court decision rejecting its request for an injunction to block the shutdown of the automaker’s company-run service centers. The GM Korea branch of the Korean Metal Workers’ Union said it submitted an appeal to the Incheon District Court. The Incheon court on Feb. 13 dismissed the union’s injunction request seeking to prohibit the closure of the direct-run service operations. The court said matters related to organizational restructuring generally fall within management rights and are afforded broad discretion. It also found that ending service center operations was conditioned on labor-management “consultation,” not “agreement.” The union argued that management itself formed bodies such as a task force to revitalize direct-run service centers and a special committee on job security on the premise that closures would require agreement between labor and management or, at minimum, substantial discussions. It said the court misread the collective bargaining agreement by focusing on wording while overlooking how the agreement was reached. The union also said a full shutdown would raise concerns about vehicle safety, consumer rights and damage to brand trust, and that the business need was unclear given GM Korea’s solid financial structure. It said the court broadly accepted management discretion while effectively avoiding a judgment on the legality of what it called an expected large-scale forced reassignment of service workers. A union official said that after the first meeting of a special labor-management consultative body last month to seek withdrawal of the closure plan, the union delivered a proposal following internal discussions. The official said management has repeated for more than a month that it is still reviewing the proposal, calling it closer to delaying a decision than holding talks to resolve the issue.* This article has been translated by AI. 2026-02-25 15:51:16