Journalist

Lee Hugh
  • Brazilian president pitches supply chain ties to S. Korean conglomerate heads
    Brazilian president pitches supply chain ties to S. Korean conglomerate heads SEOUL, February 24 (AJP) - Anchoring his first state visit to South Korea in two decades, Brazilian President Luiz Inacio Lula da Silva met with the leaders of the country's largest conglomerates on Monday to secure supply chain partnerships in advanced industries like artificial intelligence and clean energy. The private gathering in Seoul followed a summit earlier in the day between Lula and South Korean President Lee Jae Myung at the presidential Blue House. During the morning summit, the two leaders agreed to elevate bilateral ties to a strategic partnership, signing 10 memorandums of understanding (MoUs) and adopting a four-year action plan. The diplomatic agreements are designed to move the countries beyond simple import-export transactions toward "productive integration," focusing on joint value creation and linked supply chains. To put that broader diplomatic strategy into practice, Lula sat down with Samsung Electronics Chairman Jay Y. Lee, Hyundai Motor Group Chairman Chung Eui-sun, LG Group Chairman Koo Kwang-mo and HD Hyundai Chairman Chung Ki-sun. The meeting was requested by the Brazilian Trade and Investment Promotion Agency, or ApexBrasil, as the Latin American nation seeks to leverage its massive consumer market and mineral wealth to attract high-tech manufacturing. All four South Korean conglomerates already operate major production bases in Brazil. Hyundai Motor Group is investing $1.1 billion to expand the capacity of its Sao Paulo plant by 2032. Samsung Electronics produces smartphones and home appliances in Sao Paulo and Manaus, while LG Electronics is building new facilities in Parana to complement its existing Manaus plant. HD Hyundai Construction Equipment runs a manufacturing facility in Rio de Janeiro. Following the closed-door talks, Lula delivered a keynote address to some 400 government and corporate officials at a bilateral business forum. The Brazilian leader arrived for his trip with a 300-member economic delegation, which is double the size of the group from his previous state visit in 2005. The delegation included top executives from aerospace manufacturer Embraer and state energy firm Petrobras. "South Korea, with its strong competitiveness in advanced technology and manufacturing, and Brazil, the largest economy in South America and home to 23 percent of the world's rare earth reserves, can have a complementary relationship," ApexBrasil President Jorge Viana said at the forum. "We can also contribute to building global value chains." Federation of Korean Industries Chairman Ryu Jin echoed the call for deeper integration. "Brazil is a resource powerhouse with competitiveness in food, energy and aviation, and a country of great strategic importance in the global supply chain," Ryu said. "The two countries must move beyond trade-centric cooperation and advance toward an era of co-prosperity centered on investment and industrial collaboration." Brazil represents Latin America's largest market, with a population exceeding 200 million. South Korean companies exported $5.3 billion in goods to Brazil last year, primarily electronics, automotive parts and pharmaceuticals. In return, South Korea imported $5.47 billion in Brazilian oil, iron ore, meat and coffee beans. Following the business forum, the corporate leaders joined a state dinner hosted by Lee at the Cheong Wa Dae guest house. The banquet drew a wide range of attendees, including government officials, conglomerate heads and prominent cultural figures such as Theborn Korea Chief Executive Officer Paik Jong-won. During the event, the two heads of state highlighted their shared working-class roots. Both leaders experienced poverty and sustained injuries as young factory workers before entering politics. Lee referred to his counterpart as an "amigo," while Lula noted their similar life trajectories made them feel like brothers. The two presidents also exchanged toasts using the Korean word "geonbae" and the Portuguese word "saude." The dinner featured cultural exchanges, with South Korean First Lady Kim Hye-kyung and Brazilian First Lady Rosangela da Silva wearing matching traditional hanbok garments. The dresses were crafted from fabric that the two first ladies purchased together at Seoul's Gwangjang Market earlier in the week. Lula is scheduled to conclude his three-day state visit to South Korea on Feb. 24. 2026-02-24 09:57:20
  • Hanwha’s Noh Si-hwan Signs 11-Year, 30.7 Billion Won Deal, Tops SSG’s Choi Jeong Total
    Hanwha’s Noh Si-hwan Signs 11-Year, 30.7 Billion Won Deal, Tops SSG’s Choi Jeong Total Hanwha Eagles infielder Noh Si-hwan has landed a record-setting payday. The question now is whether he can deliver the kind of long-term value associated with SSG Landers star Choi Jeong. Hanwha announced on the 23rd that it signed Noh to a multiyear contract before he reaches free agency. The deal runs 11 years and is worth 30.7 billion won ($30.7 billion won) including incentives, the longest and largest contract in KBO League history across both free-agent and non-free-agent agreements. The contract also includes a clause allowing Noh to move to Major League Baseball via posting after this season. The size and length of the agreement surprised many. A long-term deal had been widely discussed, but the 11-year term and a total in the 30 billion won range exceeded expectations. Noh’s single contract also surpasses the combined value of Choi’s three free-agent deals, which totaled 30.2 billion won (4 years, 8.6 billion won; 6 years, 10.6 billion won; 4 years, 11.0 billion won). A Hanwha official said the total carried symbolic meaning, reflecting the club’s hope that Noh will become a player who surpasses Choi. Noh’s average annual value is also higher: 2.79 billion won compared with Choi’s roughly 2.16 billion won. The two players share several traits: both are third basemen, right-handed power hitters, and players who reached the first-team roster quickly after receiving military-service benefits and later earned free-agent eligibility. One difference is age. Noh will be 26 for the 2027 season, while Choi was 28 in 2015, his first season after his initial free-agent deal. With age heavily weighed in the market and the value of money declining over time, Noh’s larger figure is easier to explain. Still, unlike Choi, who signed three separate free-agent contracts, Noh’s ultra-long deal could be more sensitive to injury risk. That is why Hanwha fans may measure the contract against Choi’s track record. Choi’s first free-agent deal was widely viewed as team-friendly, and he later signed his second and third deals with the same club. According to the statistics site STATIZ, Choi posted a combined WAR of 53.99 from the 2015 season through the 2025 season, an average of 4.91 per year. That works out to about 560 million won spent per 1 WAR. Noh recorded a WAR of 4.88 this season, and in his career-best 2023 season he posted a WAR of 6.74. Noh has effectively committed his prime years to Hanwha. The key question is whether, from the 2027 season through the 2037 season when the non-free-agent multiyear deal applies, he can exceed Choi’s level of production. If Noh produces consistently at a similar level, criticism that the deal is an overpay could shift to praise as one of the league’s best-value contracts. 2026-02-24 09:57:00
  • Parata Air to Hire Experienced Cabin Crew in First Half of 2026
    Parata Air to Hire Experienced Cabin Crew in First Half of 2026 Parata Air said Monday it will hold an open recruitment drive in the first half of 2026 to hire experienced cabin crew. Applicants must have at least two years of cabin crew experience at a domestic or overseas airline. The process includes document screening and a competency test, followed by a first-round practical and English interview, a second-round executive interview and a medical checkup before final selection. Foreign-language skills are preferred, and applications are due by 5 p.m. March 1. Parata Air operates domestic routes and key international routes including Japan and Vietnam. The airline said it is also working to build a stable operational foundation through ongoing hiring and structured training. “Cabin crew are on the front line of aviation safety and a core role that delivers our brand value closest to customers,” a Parata Air official said. “We will strengthen Parata Air’s differentiated service competitiveness with experienced professionals.” * This article has been translated by AI. 2026-02-24 09:54:42
  • Korea to Invest 19.8 Billion Won in 2026 AI Content Production Support
    Korea to Invest 19.8 Billion Won in 2026 AI Content Production Support The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency said Tuesday they will invest a total of 19.8 billion won in the 2026 “AI Content Production Support” program. The initiative will be offered in three tracks based on a company’s growth stage: entry, advanced and partnership. The entry track will help small and midsize companies with AI-based production capabilities enter the market and grow. It will select about 24 projects, with up to 200 million won per project. The advanced track aims to produce globally competitive content using more sophisticated AI technology, supporting about 10 projects with up to 700 million won each. The partnership track will back collaboration between large or mid-sized companies and small and midsize firms to boost commercialization and shared growth, selecting about 16 projects with up to 400 million won each. The entry track includes “genre convergence” to upgrade production processes in existing genres; “new-technology convergence” to create new consumer experiences through technology-driven formats such as extended reality (XR), interactive and immersive content; and development and pilot testing of AI-based solutions and platforms that can be used in production. The agency said it aims to expand services tailored to content production beyond general-purpose technology use. The partnership track will expand sharply from four projects last year to 16. It will also encourage cooperation not only between large and small companies but also between the content sector and other related industries to develop new commercialization models. The agency plans to hold a public briefing in March for small and midsize companies interested in joining the partnership track. More details are available on the agency’s website. * This article has been translated by AI. 2026-02-24 09:51:16
  • Volkswagen Group Names Andreas Mindt as Head of Group Design
    Volkswagen Group Names Andreas Mindt as Head of Group Design Andreas Mindt, head of design for the Volkswagen brand, will also take on the role of head of group design, succeeding Michael Mauer, who left the post as part of a generational change. Volkswagen Group said Monday that Mindt will oversee design across the group starting March 1. Mindt graduated from Pforzheim University of Design and began his career at Volkswagen Group in 1996. Through 2014, he worked at the Volkswagen brand, contributing to exterior design including the first-generation Tiguan and the Golf 7. Until 2021, he led a revamp of Audi exterior design, working on models ranging from the Audi A1 to the e-tron GT and from the Q3 to the Q8. Since February 2023, he has served as head of design for the Volkswagen passenger-car brand. Volkswagen Group CEO Oliver Blume said he looks forward to working even more closely with Mindt, adding that Mindt “made a significant impact in a short time” based on his achievements and expertise at the Volkswagen brand. Blume said Mindt played a key role in ensuring Volkswagen vehicles are once again clearly recognized as “true Volkswagens.” 2026-02-24 09:45:24
  • OPINION: With US tariff ruling, trade war enters new phase
    OPINION: With US tariff ruling, trade war enters new phase SEOUL, February 24 (AJP) - Two months into the new year, uncertainty continues to mount, unsettling businesses and consumers alike. What matters as much as what changes is what holds steady — yet unexpected shocks keep emerging and how governments and companies respond will determine what lies ahead. A new variable has hit global trade. The U.S. Supreme Court ruled that U.S. President Donald Trump's reciprocal tariffs and fentanyl-related tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were illegal. The court said that while IEEPA grants a president the authority to "regulate" imports during a national emergency, it does not explicitly authorize "tariffs." The Trump administration wasted no time finding alternatives. Citing Section 122 of the Trade Act, it announced a global tariff of 15 percent for up to 150 days. It has also begun weighing "Super 301" as a tool to target specific countries with retaliatory tariffs. Attention is now turning to what comes next. With 64 percent of Americans opposing Trump's tariff policy, U.S. industry has welcomed the ruling as a positive sign for the economy. Financial markets, however, remain unsettled: the dollar fell 0.2 percent against major currencies, while U.S. stocks rose. Trump is expected to quickly work to keep tariff measures going. The tariff battle could also become a political setback for him in November's midterm elections, yet aggressive efforts to regain momentum are likely to continue, as voter sentiment may do little to constrain him. The next stage is how other countries respond and how carefully they tread. Rash moves could backfire, as Trump still has powerful options at his disposal. A sudden action could trigger Super 301 measures that even the Supreme Court might not be able to block. China appears quietly pleased, judging that Trump's bargaining power has weakened and that Beijing can hold out longer. The EU is observing cautiously, even as it maintains that conditions may not worsen. Canada remains broadly optimistic, while Mexico is wary that the U.S.-Mexico-Canada Agreement could face new fallout. Japan has avoided issuing a formal statement, reaffirming its commitment to promised U.S. investments and emphasizing that sector-specific tariffs such as those on autos or steel and aluminum are not affected by the ruling. South Korea has taken a stance similar to Japan's, signaling a cooperative approach toward Washington. Anxiety persists after Trump recently warned he could raise South Korea's reciprocal tariff from 15 percent to 25 percent over delays in fulfilling investment pledges. Concerns are heightened because Trump often relies on brinkmanship when cornered. Overall, the current mood in South Korea–U.S. relations leaves little room for complacency. The calculus is complicated by Japan's new government under Prime Minister Sanae Takaichi, which has moved closer to Washington while sharpening its confrontation with China. Given Northeast Asia's security environment, South Korea cannot easily ignore U.S. economic pressure amid China's growing influence, North Korea's nuclear threat and its deepening military ties with Russia. There have been signals that the role and function of U.S. forces stationed in the region could change. Japan is accelerating its efforts to become a country capable of waging war, while scenarios of a Chinese invasion of Taiwan persist, drawing Taiwan closer to the U.S. South Korea's stance remains uncertain. Within the government, a debate is growing between those who prioritize the U.S. alliance and those who favor greater strategic independence including closer ties with China. There is disagreement over South Korea's investment pledges to the U.S., following the ruling, but the two are separate issues. To protect its national interests, South Korea should first create conditions for profitable investment in the U.S. market, diversifying supply chains, shifting energy import sources, and helping South Korean companies capture new opportunities there. In areas Washington is rushing to rebuild, such as semiconductors and shipbuilding, South Korean firms are not the only capable players, with Taiwan and Japan possessing nearly comparable technology. Even if South Korea is excluded, U.S. rebuilding would not face major problems. If South Korea hesitates to cooperate with the U.S. or Japan due to concerns about North Korea or China, the fallout could spill over into the economic sphere as well. South Korea–U.S. relations remain on thin ice. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-02-24 09:41:01
  • Retired Speedskater Kim Bo-reum Says She’s Weighing Her Next Chapter
    Retired Speedskater Kim Bo-reum Says She’s Weighing Her Next Chapter Retired South Korean speedskater Kim Bo-reum has shared an update on her life after leaving the sport. Kim appeared on the KBS Joy program “Ask Anything” that aired on the 23rd. Asked how she has been doing, Kim said, “I’m not doing anything.” When Seo Jang-hoon asked, “Unemployed?” she nodded. She said she is thinking about “how to live” her second chapter, adding that she retired about three weeks before the filming date. Explaining her decision, Kim said she considers her peak as an athlete to have been the 2018 Pyeongchang Olympics. “My original dream was to win a gold medal at the Olympics and retire in that moment, but there was a bit of a setback when I won silver,” she said. She added that she did not compete in the latest trials and that she has considered retiring every year since Pyeongchang. After Seo said she must have struggled when something she did not want happened at a young age, Kim said the experience made her feel she could handle whatever comes next. “I’ve become tougher than other people, and I’m confident I won’t break easily, so I want to try many different things,” she said.* This article has been translated by AI. 2026-02-24 09:34:42
  • Cadillac Launches 2026 Escalade in South Korea With Super Cruise Hands-Free Driving
    Cadillac Launches 2026 Escalade in South Korea With Super Cruise Hands-Free Driving Cadillac said Monday it has launched its flagship SUV, the 2026 The New Escalade, and begun official sales in South Korea. The updated model keeps the Escalade’s performance while adding GM’s hands-free driver-assistance system Super Cruise, along with T Map connected services and a traffic sign recognition feature. Super Cruise, newly applied to the 2026 The New Escalade, supports hands-free driving and automatic lane changes on about 23,000 kilometers (about 14,300 miles) of highways in South Korea. Using high-precision road data and sensor fusion from cameras and radar, the system is designed to help control the vehicle safely even in complex conditions such as curves and construction zones. T Map connected services are also new. Drivers can check real-time traffic and suggested routes on the infotainment center screen and instrument cluster without connecting a smartphone. The newly added traffic sign recognition system, or TRS, is designed to help drivers identify the speed limit on the road they are traveling. It displays the limit on the cluster using camera and navigation data. The 2026 The New Escalade is powered by a 6.2-liter V8 gasoline engine producing 426 horsepower and 63.6 kg·m of torque, paired with a 10-speed automatic transmission. Cadillac said Magnetic Ride Control 4.0, which analyzes the road surface 1,000 times per second, works with an adaptive air-ride suspension to improve ride comfort. The vehicle is offered in two versions: a standard model and the extended-wheelbase ESV. Prices in South Korea, based on a 3.5% individual consumption tax rate, are 168.07 million won for the standard model and 190.07 million won for the ESV. “The 2026 The New Escalade is a model that takes the standard for a luxury flagship to a new level by adding cutting-edge intelligent technologies such as Super Cruise and T Map connected services,” said Yoon Myung-ok, GM Korea’s chief marketing officer and head of communications.* This article has been translated by AI. 2026-02-24 09:27:19
  • Celltrion unveils dual-track obesity drug strategy with quad-action injectable and oral pill
    Celltrion unveils dual-track obesity drug strategy with quad-action injectable and oral pill SEOUL, February 24 (AJP) - Celltrion announced it is pursuing a two-pronged approach to the fast-growing obesity treatment market, developing both a first-in-class quadruple-action injectable and a multi-target oral drug designed to challenge dominant players in the space. The injectable candidate reported Tuesday, CT-G32, targets four biological pathways simultaneously, moving beyond the dual- and triple-action GLP-1-based therapies that currently dominate the market. Celltrion said the drug aims to minimize side effects such as muscle loss and efficacy variation among patients while enhancing appetite suppression and weight reduction. The company plans to file an investigational new drug application in the first half of 2027. The oral candidate, meanwhile, acts on multiple targets including GLP-1 receptors, distinguishing it from rival oral treatments that rely on a single mechanism. Celltrion said the pill is expected to broaden patient access by offering easier storage and administration compared to injectables, with an IND filing targeted for the second half of 2028. The push for obesity drug follows a worldwide demand for the market, soon to grow to $173.5 billion by 2031, according to GlobalData, as the worldwide adult overweight rate has surged past 40 percent from about 25 percent in the 1990s. The South Korean drugmaker said the two treatments are designed to complement each other across different stages of obesity care — the injectable for patients requiring aggressive early weight loss, and the oral drug for those seeking long-term maintenance or alternatives to injections. "We plan to enter the obesity drug market with differentiated competitiveness, building on our established dominance in autoimmune diseases and oncology," a Celltrion spokesperson said. "We will do our utmost to maximize corporate value and evolve into a global pharma giant." 2026-02-24 09:17:51
  • Toyota Korea to Sponsor O-NE Superrace Championship for 2026 Season
    Toyota Korea to Sponsor O-NE Superrace Championship for 2026 Season Toyota Korea said Monday it has signed an official sponsorship agreement for the 2026 season of the O-NE Superrace Championship, the country’s largest motorsports series. The company has served as an official Superrace sponsor for seven straight years since 2020, it said, as part of efforts to expand motorsports culture in South Korea. Manabu Koyama, CEO of Toyota Korea, and Seokho Ma, the newly appointed CEO of Superrace, attended the signing ceremony along with officials from both sides. Superrace renamed its top-tier category in the 2025 season, changing the official title from the “Super 6000 Class” to the “TOYOTA GAZOO Racing 6000 Class.” Toyota Korea has participated since 2020 as a “cowl sponsor,” applying the exterior design of the GR Supra to Super 6000 race cars. Beginning in the 2025 season, it expanded its role to become the category’s naming sponsor, the company said. Toyota Korea said it is pursuing a range of motorsports initiatives based on its global philosophy of building better cars through racing. Along with backing the top professional series, it said it created the “Prius PHEV Class,” described as South Korea’s only plug-in hybrid one-make race, to broaden participation across professional and amateur racing. The company also sponsors the Boryeong-AMC International Motor Festival run by Ajou Motor College, and operates programs including the “GR Racing Class” and the “GR Kids Superrace School.” Starting in the 2026 season, the TOYOTA GAZOO Racing 6000 Class will shorten its final-race distance from 170 kilometers to about 100 kilometers, Superrace said, aiming for its fastest races yet. The series will also abolish the “success weight” handicap system to emphasize head-to-head competition. The rule had added up to 50 kilograms based on results; its removal is expected to allow drivers to draw out maximum vehicle performance. “As a brand with genuine commitment to motorsports, we are pleased to participate as a sponsor of the O-NE Superrace Championship for the seventh consecutive year,” Koyama said. He added that he hopes this season will vividly convey Toyota Gazoo Racing’s pursuit of “extreme challenge” and “driving fun” to customers in South Korea. The 2026 Superrace Championship season is set to open April 18-19 with a double round at Yongin Everland Speedway. Organizers said they will try new combinations of culture and events to broaden motorsports’ appeal. The third round will be held alongside the “Asia Motorsports Carnival” and the Park Music Festival, a major domestic music event. * This article has been translated by AI. 2026-02-24 09:04:11