Journalist

Lee Hugh
  • Rate inaction likely in upcoming BOK meeting amid growing uncertainties
    Rate inaction likely in upcoming BOK meeting amid growing uncertainties SEOUL, Feb 23 (AJP) - The Bank of Korea is widely expected to keep its benchmark interest rate unchanged on Thursday, hemmed in by political uncertainty abroad, domestic financial imbalances and a governorship nearing the end of its term. Since cutting rates to 2.5 percent in May last year, the BOK has remained on hold. That pause reflects a series of overlapping constraints: political turbulence triggered by impeachment fallout, renewed U.S. trade pressure, inflation risks from a weak won, and asset inflation driven by overheated housing and equity markets. Each factor alone would complicate policymaking. Together, they have produced near paralysis. The signal was formalized in January. At its Jan. 15 meeting, the BOK removed all references to possible “rate cuts” from its policy statement, shifting to explicitly neutral language. The move effectively closed the door on near-term easing and signaled that the policy cycle had entered a holding phase. Governor Rhee Chang-yong’s four-year term ends on April 20. While an extension is possible, markets remain cautious about any major shift during the transition period. For now, investors are pricing in upside risk rather than easing. The 10-year government bond yield, which peaked at 3.754 percent on Feb. 9, has retreated to around 3.58 percent, but remains nearly 100 basis points above the policy rate — a gap that continues to strain highly leveraged households. External pressures are adding to the bind. South Korea is grappling with persistent capital outflows and a structurally weak currency. As of December 2025, outbound investment by residents reached $14.37 billion, almost triple foreign inflows of $5.68 billion. Although the won briefly strengthened this week on a weaker dollar and renewed uncertainty over U.S. trade policy, it remains anchored near the 1,440-per-dollar level — a reflection of underlying vulnerability. That weakness limits the BOK’s ability to cut rates without risking further capital flight. The appointment of Kevin Warsh as the next Federal Reserve chair has added another layer of complexity. Known for advocating both monetary tightening and selective easing, Warsh embodies a policy mix that could destabilize global rate expectations. For Seoul, this creates an uncomfortable scenario in which both tightening and easing pressures coexist — making abrupt policy moves increasingly risky. Regional dynamics are also shifting. The Bank of Japan has steadily raised rates since exiting its zero-rate era in 2023, lifting its benchmark to 0.75 percent by last December. Although Tokyo paused in January pending wage data, major institutions expect further hikes. “We can expect as many as three rate increases this year,” said Kenya Koshimizu of Mizuho Financial Group, in comments to Reuters. As Japan normalizes policy, Korea’s interest-rate differential is narrowing — reducing Seoul’s flexibility to cut without undermining currency stability. At home, household debt remains the central obstacle. According to BOK data, total household credit reached 1,852.7 trillion won ($1.28 trillion) at the end of 2025, rising 11.1 trillion won from the previous quarter despite tighter lending rules and mortgage caps. More troubling is the shift in borrowing patterns. Lending by non-bank financial institutions jumped to 4.1 trillion won in the fourth quarter, more than double the previous quarter’s level. As borrowers migrate toward higher-cost credit, financial fragility is increasing. In this environment, even a modest rate cut could be interpreted as an invitation to re-leverage — precisely the signal policymakers want to avoid. Analysts view the January statement as decisive. “The BOK effectively signaled the end of the easing cycle,” said Cho Yong-gu of Shinyoung Securities. “With overheated asset markets and rising debt, a rate cut is highly unlikely.” 2026-02-23 17:53:55
  • KOSPI briefly tops 5,900 as individuals offset foreign selloff
    KOSPI briefly tops 5,900 as individuals offset foreign selloff SEOUL, February 23 (AJP) - Korean stocks closed higher Monday after briefly touching the 5,900 mark for the first time, although heavy foreign selling erased much of the early advance. The benchmark KOSPI rose 0.7 percent to finish at 5,846.1, after surging 2.1 percent in early trade to hit an all-time high of 5,931.9. The index later slipped down to 5,846.1 before the trading session ended. The KOSPI 200 gained 0.7 percent to 865.5. Volatility intensified as foreign investors dumped 1.10 trillion won, ($763.6 million) while institutions also sold 144.0 billion won. Individuals stepped in aggressively, purchasing 1.08 trillion won and effectively defending the 5,800 level. The rally was initially fueled by relief after the U.S. Supreme Court ruled that President Donald Trump’s reciprocal tariff policy was unlawful, easing trade uncertainty. However, renewed geopolitical tension in the Middle East — after Trump reportedly set a deadline for Iran’s nuclear rollback — tempered risk appetite during the session. Among large-cap stocks, Samsung Electronics rose 1.5 percent to 193,000 won, extending its momentum above the 190,000 threshold. SK hynix edged up 0.2 percent to 951,000 won after earlier approaching the symbolic 1 million-won level. Software stocks outperformed sharply, with the sector climbing more than 8 percent, as artificial intelligence–related investment momentum broadened across technology names. MLCC maker Samwha Capacitor surged 30 percent on expectations of price hikes in AI server components following similar signals from Japan’s Murata Manufacturing. Automakers also drew strong interest. Hyundai Motor gained 2.8 percent to 523,000 won after reports that the group plans to invest roughly 10 trillion won in Saemangeum to build AI, hydrogen and robotics industrial clusters. Defense and aerospace names advanced amid rising geopolitical risk. Hanwha Aerospace climbed 8.1 percent, while Korean Air rose 5.2 percent ahead of the upcoming Drone Show Korea exhibition in Busan. In contrast, shipbuilding shares were mixed. Hanwha Ocean fell 1.8 percent despite expectations of potential LNG dual-fuel container ship orders from Japan’s ONE shipping group. The tech-heavy KOSDAQ slipped 0.2 percent to 1,152.0. Foreign investors bought 180.5 billion won, while institutions sold 362.3 billion won. Individuals added 218.8 billion won. Korean won strengthened 0.5 percent to 1,440.8 per dollar. Precious metals rallied, with gold rising to $5,080.9 per ounce and silver climbing to $82.3. Hong Kong’s Hang Seng Index rose than 2.4 percent, led by financial and technology shares. The Tokyo exchange was closed for the Emperor's birthday and the Shanghai market is set to resume trading on Tuesday after a holiday closure. 2026-02-23 17:47:22
  • Faith in the feed: virtual pastors and monks court young Koreans
    Faith in the feed: virtual pastors and monks court young Koreans SEOUL, February 23 (AJP) — “I have to go prepare for Sunday service now, so we’ll wrap up today’s stream here. Thank you for watching.” With that, a 2D avatar known as “Pastor Kim” waves goodbye. The chat window erupts in emojis, hearts and rapid-fire comments. Viewers type “Amen,” “LOL” and “See you next time” in the same breath. Welcome to South Korea’s newest religious frontier: virtual YouTube. Far from pulpits and pews, young clergy members are turning to avatars, livestreams and gaming culture to reach a generation that has largely drifted away from organized religion. “Praise Jesus. Please take good care of us. Namu Amitabha, Avalokiteshvara,” Pastor Kim says in a closing line, blending Christian and Buddhist expressions in a playful sign-off. The message is clear: faith, rebranded for the algorithm age. Over the past year, virtual religious creators have quietly built online followings. One of the earliest was “Illegal Monk,” who began streaming in July last year on Naver’s CHZZK and YouTube. Presenting himself as a monk born in 1994 from the fictional “Uimon Temple of Chizik Mountain,” he mixes Buddhist teachings with internet humor. His debut broadcast drew attention when he performed Cheondojae — a traditional Buddhist ritual for the dead — for the fictional “Saja Boys,” characters inspired by Korea’s grim reapers in the Netflix animated film K-Pop Demon Hunters. His channel now has about 65,000 subscribers. In November 2025 came “Pastor Kim,” followed in January this year by “Father Leon,” a Catholic VTuber. They represent different faiths, but share a common mission: speaking to young people in the language of K-pop, webtoons, games and livestream culture. “I keep saying I should go to church but never do — so it’s a miracle that Father shows up in my algorithm,” one follower wrote. Their digital outreach reflects a deeper problem. According to Hankook Research, 51 percent of respondents in its January–November 2025 survey said they had no religion. Only 20 percent identified as Protestant, 16 percent as Buddhist and 11 percent as Catholic. Among those aged 18 to 29, nearly 69 percent said they had no religion. Long-term data from Gallup Korea shows the shift clearly. In 2004, about 45 percent of Koreans in their 20s said they were religious. Today, that figure has fallen to the low 20 percent range. Religion, once a major social anchor, is losing ground among younger generations. “Korea is becoming polarized in belief,” said Jung Jong-hyun, a sociology professor at Sungkyunkwan University. “Those who are religious tend to be very active, while those without religion are largely indifferent. This divide is growing.” At stake, he added, is institutional survival. Behind the animated characters are real religious figures. Illegal Monk is an ordained monk of the Jogye Order of Korean Buddhism. Father Leon belongs to the Catholic virtual creator group “Holy Live.” Pastor Kim is an ordained minister of the Korea Nazarene Church. All keep their personal identities private, but operate within their respective institutions. They also share a surprising degree of collaboration. When Father Leon introduced his new character design, he joked, “Some of you might recognize the illustration style. The same artist worked on Illegal Monk. I guess that makes us brothers. VTubers are bringing religious unity.” Indeed, Illegal Monk and Father Leon share an illustrator and have appeared together in joint livestreams. Different traditions, same digital universe. Their content follows familiar online formulas. They read chat messages in real time. They joke with viewers. They reference memes and games. They react to trending videos. In between, they insert short sermons, prayers or reflections. Religion is no longer delivered in long lectures. It comes in clips, comments and casual conversation. Illegal Monk says he wants to make Buddhism feel less intimidating. Father Leon aims to lower psychological barriers to church. Pastor Kim believes the Gospel must go where young people already gather — including online subcultures. Instead of asking youth to return to institutions, they are meeting them on their phones. 2026-02-23 17:41:27
  • BOK governor sees economic recovery despite last years stagnation
    BOK governor sees economic recovery despite last year's stagnation SEOUL, Feb 23 (AJP) - South Korea’s central bank expects economic growth in 2026 to rise significantly compared to the previous year, despite last year’s performance falling short of initial market expectations. "Despite uncertainties surrounding US tariff policies, domestic demand is recovering on the back of favorable consumer sentiment, while exports continue their upward trend led by the robust semiconductor sector," BOK Governor Rhee Chang-yong stated during a parliamentary report to the Strategy and Finance Committee on Monday. Regarding inflation, Rhee projected that consumer price growth would maintain a stable trajectory near the 2 percent target. He, however, left the door open for possible fluctuations in international oil prices and exchange rates - which could serve as potential risk factors. The volatility of the won-dollar exchange rate and stock prices was also identified as a significant concern. "While the rise in the exchange rate has been tempered by year-end measures to stabilize foreign exchange supply and demand, the market remains highly volatile, still influenced by external variables such as the movements of the US dollar and the Japanese yen," Rhee noted. On the equity market, he explained that while stock prices rose sharply driven by the boom in key sectors like semiconductors, volatility is now increasing due to concerns over overinvestment in Artificial Intelligence (AI) and the potential displacement of traditional industries. Governor Rhee further emphasized the need for vigilance regarding financial stability. "Credit risks remain prevalent in vulnerable sectors, such as the self-employed, while concerns persist over accumulating financial imbalances caused by rising housing prices in the Seoul metropolitan area," he said. The BOK plans to calibrate its future monetary policy by comprehensively evaluating economic growth, inflation, and financial stability, as global and domestic uncertainties remain elevated. Following Governor Rhee's remarks, yields in the Seoul bond market saw a broad uptick on Monday. The benchmark three-year government bond yield closed at 3.154 percent per annum, rising 1.1 basis points from the previous trading day. The 10-year Treasury yield rose by 3.8 basis points to finish at 3.578 percent. The South Korean economy contracted by 0.3 percent in the fourth quarter of 2025 compared to the previous quarter, according to data released by the BOK on Jan. 22. On an annual basis, the economy recorded a growth of 1.0 percent, significantly missing the central bank's original consensus of 1.8 percent. 2026-02-23 17:40:09
  • Genesis Wraps Up 2026 Genesis Invitational at Riviera
    Genesis Wraps Up 2026 Genesis Invitational at Riviera Genesis said Sunday it successfully concluded the 2026 Genesis Invitational, held Feb. 19-22 local time at Riviera Country Club in California. Marking the tournament’s 100th anniversary, the event is one of the PGA Tour’s top “signature events,” drawing leading players including world No. 1 Scottie Scheffler, No. 2 Rory McIlroy and No. 3 Justin Rose to compete for prize money and FedExCup points. Jacob Bridgeman won at 18-under-par 266. McIlroy and Kurt Kitayama finished one stroke back in a tie for second. Genesis awarded Bridgeman $4 million and a GV80 Coupe Black. Max Greyserman made a hole-in-one on the 14th hole in the final round. During the tournament, Genesis displayed 18 vehicles, including the GV60 Magma model, the electrified GV70 and the GV80 Coupe, to spectators and to TV audiences across the United States. Genesis also set up a “Genesis 14th Hole Lounge,” featuring Genesis Golf Collection sales, a golf swing simulator experience and a display of Boston Dynamics’ four-legged robot, Spot. Genesis said it ran its “California Rises” campaign for a second straight year, launched last year with the PGA Tour and TGR Live to support recovery from California wildfires. As part of the campaign, Genesis held a “Birdies for Good” event, pledging $1,000 for each birdie or eagle on five holes — Nos. 10, 14, 16, 17 and 18 — and $25,000 for each hole-in-one. The effort raised about $320,000 in relief funds during the tournament. Genesis said it plans to donate a total of $1 million, including those funds, to local charities including the American Red Cross, the California Fire Foundation and the Genesis Inspiration Foundation. Genesis, the title sponsor for the 10th year, previously extended its sponsorship agreement for the Genesis Invitational through 2030 with the PGA Tour and the Tiger Woods Foundation ahead of this year’s tournament. * This article has been translated by AI. 2026-02-23 17:39:20
  • IVE’s Leeseo Says All Members Are Adults This Year as Group Returns With ‘REVIVE+’
    IVE’s Leeseo Says All Members Are Adults This Year as Group Returns With ‘REVIVE+’ IVE’s youngest member, Leeseo, shared her thoughts on turning 20. On the afternoon of the 23rd, IVE held a comeback showcase for its second full-length album, “REVIVE+,” at YES24 Live Hall in Seoul’s Gwangjin District. “The biggest change is that, starting this year, all IVE members are adults,” Leeseo said, adding that fans can expect a wider range of sides from the group. Leeseo, born Feb. 21, 2007, said returning with a second full-length album after becoming an adult makes “each day feel like a dream.” “But honestly, I don’t think much has changed,” she said. “I want to stay happy as the youngest in IVE forever. Since this is my first comeback as an adult, I really want to do well.” Member Rei said she noticed a shift during the group’s second world tour last year. “It was the same songs, but compared with debut, Leeseo’s vibe, expressions and gestures naturally changed,” Rei said. “As an older member, it felt amazing to see.” IVE’s second full-length album, “REVIVE+,” is set for release at 6 p.m. on the 23rd. * This article has been translated by AI. 2026-02-23 17:33:16
  • Daewon, Yuhan, Kolon and Samsung Medical Center roll out supplements, gene therapy and AI tools
    Daewon, Yuhan, Kolon and Samsung Medical Center roll out supplements, gene therapy and AI tools Daewon Pharmaceutical teams with E-Land’s Kim’s Club to launch 14 health supplements Daewon Health said Feb. 23 it will launch 14 premium health functional foods in collaboration with Kim’s Club, a supermarket brand operated by E-Land Retail. The lineup includes a multivitamin, milk thistle, lutein, calcium and coenzyme Q10. The products are designed by age, gender and health goal, and the packaging includes suggested uses tied to common health concerns to help shoppers choose. Daewon Health said all products are formulated to meet at least 100% of Korean nutrient intake standards. It said it combined key ingredients with complementary ingredients to improve nutritional balance and priced the products at 5,000 won or less for a one-month supply to reduce the burden on consumers. Yuhan launches ‘Becompl’ daily vitamin shots in three versions Yuhan said Feb. 23 it launched three products under its premium daily care brand Becompl, designed to help manage daily condition by time of day. The company said the products use a dual format that combines a tablet and liquid in one bottle, allowing consumers to take them without water and improving portability and convenience. Becompl Morning Shot is aimed at liver health. Yuhan said the 30 mL portable product contains milk thistle and Rhodiola rosea extract for easy use on the way to work. Becompl All Day Shot is a premium multivitamin that includes 20 functional ingredients in one bottle. Centered on high-dose B vitamins needed for energy metabolism, it also combines vitamins C and E with minerals and may help with antioxidant support, the company said. Becompl Good Night is designed to improve sleep quality and is intended for nighttime use. Yuhan said it contains lime peel extract, a citrus-derived ingredient that may help support sleep health. Kolon Life Science to broaden indications for next-generation gene therapy candidates Kolon Life Science said Feb. 23 it plans to add new indications for drug candidates KLS-3021 and KLS-2031 and strengthen the foundation for global commercialization. KLS-3021 is a next-generation anticancer gene therapy candidate that loads therapeutic genes (PH-20, IL-12 and sPD1-Fc) onto a recombinant vaccinia virus engineered for greater selectivity toward cancer cells. The company said it is designed to combine the virus’ direct tumor-killing mechanism with breakdown of tumor stroma to help immune cells penetrate cancer tissue, while also inducing an anticancer immune response. To diversify indications for KLS-3021, Kolon Life Science said it is expanding research to include head and neck squamous cell carcinoma and triple-negative breast cancer. Another pipeline candidate, KLS-2031, is a recombinant adeno-associated virus (rAAV)-based gene therapy designed to express the genes GAD65, GDNF and IL-10, which are involved in suppressing neuroinflammation and regulating overexcited pain signaling pathways. The company said it is continuing to submit papers on preclinical results related to diabetic peripheral neuropathy and is also pursuing additional indications. AI may enable earlier detection of Parkinson’s disease, Samsung Medical Center says Samsung Medical Center’s AI Research Center said Feb. 23 it has confirmed the potential for earlier diagnosis of neurodegenerative diseases, including Parkinson’s disease and Parkinson-plus syndromes, using multimodal AI that analyzes clinical data such as gait, voice and brain imaging together. Parkinson’s disease is often diagnosed late because early symptoms are not clear. By the time tremors or gait problems appear, the disease may already be significantly advanced. A research team led by neurologist Cho Jin-hwan and radiologist Jeong Myeong-jin collected and standardized clinical information — including gait, voice and brain imaging — from about 500 patients over four years: 363 with Parkinson’s disease, 67 with progressive supranuclear palsy and 61 with multiple system atrophy. The team built an integrated database and developed a gait-based fall-risk prediction model, a voice-test-based Parkinson’s classification system, and an MRI-based automated brain-structure analysis model. In clinical evaluations, the hospital said the voice-based severity classification model, the MRI-based disease differentiation model, and a fall prediction model that analyzes gait and brain imaging together all showed high accuracy. Samsung Medical Center added that the models can also present the basis for their decisions. Cho said, “The earlier Parkinson’s disease is detected, the better the effect of drug treatment, and rehabilitation can slow progression,” adding that AI will help early diagnosis by quickly integrating results from multiple tests.* This article has been translated by AI. 2026-02-23 17:15:00
  • KBO Suspends Four Lotte Giants Players Over Gambling During Taiwan Training Trip
    KBO Suspends Four Lotte Giants Players Over Gambling During Taiwan Training Trip Four Lotte Giants players embroiled in a gambling controversy have been handed heavy discipline by the Korea Baseball Organization (KBO). The KBO said it held a disciplinary committee meeting on Feb. 23 in its conference room for Kim Dong-hyeok, Ko Seung-min, Na Seung-yeop and Kim Se-min. The league confirmed that on Feb. 12, the players visited a gambling-style arcade near their hotel in Tainan, Taiwan, where Lotte was holding its first spring training camp, and used electronic betting games. Lotte reported the matter to the Clean Baseball Center on Feb. 14 after learning of it. Citing Article 151 of its rules on conduct unbecoming, the committee suspended Kim for 50 games and suspended the other three players for 30 games each. Kim was punished more severely because he was reported to have visited the venue three times, while the others visited once, according to the report. The KBO said a police investigation is underway, but it imposed sanctions in advance given the seriousness of the incident, the public backlash and damage to the league’s image. It said additional discipline could follow depending on the outcome of the police investigation. * This article has been translated by AI. 2026-02-23 17:06:00
  • BTS to Open Ticketing for Free Gwanghwamun Square Comeback Live at 8 p.m.
    BTS to Open Ticketing for Free Gwanghwamun Square Comeback Live at 8 p.m. 그룹 방탄소년단(BTS)이 오는 3월 21일 서울 광화문 광장에서 여는 무료 공연 ‘BTS 컴백 라이브: 아리랑(BTS THE COMEBACK LIVE: ARIRANG)’의 예매가 23일 시작된다. 소속사 빅히트뮤직은 예매가 23일 오후 8시부터 온라인 예매처 ‘놀(NOL) 티켓’에서 진행된다고 밝혔다. 약 1시간 동안 열리는 이번 공연은 방탄소년단이 3년 9개월 만에 선보이는 새 앨범 무대다. 예매 대상은 메인 무대 오른쪽 스탠딩석과 이순신 장군 동상 앞까지 배치된 지정석이다. 돌출 무대 주변의 핵심 스탠딩석은 정규 5집 ‘아리랑’ 예약 구매자 중 이벤트 응모로 선정된 2000명에게 우선 배정된다. 티켓은 1인 1매로 제한되며, 예매 수수료는 관객이 부담한다. 주최 측은 일부 지정석은 무대 연출과 안전 구조물로 시야가 제한될 수 있지만, 현장 대형 스크린으로 관람할 수 있다고 밝혔다. 이번 공연은 온라인동영상서비스(OTT) 넷플릭스를 통해 전 세계에 생중계될 예정이다. 주최 측은 “매크로 등 자동 프로그램을 이용한 부정 예매는 관련 법령에 따라 엄격히 처벌될 수 있다”며 주의를 당부했다.* This article has been translated by AI. 2026-02-23 17:03:44
  • South Korea ends 17-day campaign across ice and snow as Winter Olympics close
    South Korea ends 17-day campaign across ice and snow as Winter Olympics close SEOUL, February 23 (AJP) - The 2026 Milan-Cortina d’Ampezzo Winter Olympics concluded Sunday (KST), bringing down the curtain on a 17-day celebration of winter sports across northern Italy. The Games officially ended with a closing ceremony held at the Verona Arena early Sunday morning Korea time. South Korea, which sent a 130-member delegation including 71 athletes, collected a total of 10 medals — three gold, four silver and three bronze — to finish 13th overall. The team achieved its target of winning at least three gold medals, one more than at the 2022 Beijing Games, but fell short of its other goal of breaking into the top 10 in the medal standings. Short track speed skating once again proved to be the backbone of Korea’s medal haul. Two-time gold medalist Kim Gil-li led the charge, helping the team secure two golds, three silvers and two bronzes in the sport. Snowboarding, long considered a weak point for Korea, delivered one of the Games' most notable breakthroughs. Choi Ga-on captured gold in the women’s halfpipe, marking a milestone for the country’s snow events. In men’s snowboard competitions, Yoo Seung-eun earned a medal in big air, while Kim Sang-gyeom added another in parallel giant slalom, underscoring Korea’s growing competitiveness on snow. Overall, snowboarders claimed one gold, one silver and one bronze, exceeding expectations. Built on the traditional strength of ice events and bolstered by emerging success on snow, the Milan-Cortina Games signaled an expanding horizon for Korean winter sports. The next Winter Olympics will be held in the French Alps in 2030. 2026-02-23 16:51:04