Journalist

John Na
  • KOSDAQ Closes Above 1,200 for First Time Since 2000 on Chip Materials, Biotech Rally
    KOSDAQ Closes Above 1,200 for First Time Since 2000 on Chip Materials, Biotech Rally The KOSDAQ index closed above 1,200 on Thursday, its highest level since 2000, lifted by gains in semiconductor materials, parts and equipment shares and biotech stocks. The KOSPI, after setting record highs in recent sessions, traded in a narrow range. According to the Korea Exchange, the KOSDAQ rose 29.53 points, or 2.51%, to finish at 1203.84. It was the first time the index has closed above 1,200 since Aug. 4, 2000, about 25 years and eight months ago. The rally was led by chip-related suppliers and biotech names. As large semiconductor stocks paused on profit-taking, buying shifted toward KOSDAQ growth shares, widening the index’s gains. The KOSPI slipped 0.18 point to 6475.63. It rose as high as 6516.54 early in the session but gave up gains to end near flat. Profit-taking after three straight record closes through Wednesday and geopolitical risks in the Middle East limited the advance. Analysts said further gains in the KOSDAQ will depend on whether expectations for a recovery in the semiconductor cycle and strength in biotech shares continue.* This article has been translated by AI. 2026-04-24 20:48:17
  • Iran Central Bank Says Strait of Hormuz Transit Fees Paid in Cash-Like Currency, Not Crypto
    Iran Central Bank Says Strait of Hormuz Transit Fees Paid in Cash-Like Currency, Not Crypto Iran’s central bank said it collected ship transit fees for the Strait of Hormuz in a cash-like currency, not cryptocurrency, pushing back against speculation that payments were being demanded in digital assets. Iran’s state-run Press TV and Iran International reported on the 24th that the central bank confirmed the revenue was deposited into a central bank account. It said the payment was made in “cash-like currency,” not cryptocurrency. Iran International said the information was carried by Fars News Agency, which is close to Iran’s Islamic Revolutionary Guard Corps. Press TV also cited Fars in reporting the deposit. Iranian authorities did not disclose the size of the fees, how many ships paid them, or what specific currency was used. The Wall Street Journal reported the previous day that Iran had earned its first revenue from the fees. Hamidreza Hajibabaei, a deputy speaker of Iran’s parliament, said the proceeds were deposited into the central bank account. The Journal said Iran did not reveal the amount and that the move could conflict with international norms governing maritime passage. Iran is not a party to the U.N. Convention on the Law of the Sea. The central bank’s statement was seen as aimed at calming controversy over how the fees are paid. Foreign media and maritime security firms had reported that messages were circulating demanding cryptocurrency in the name of Hormuz passage. Reuters, citing Greek maritime security firm Marisks, reported that scam messages were identified seeking bitcoin or tether by offering “safe passage.” It was not confirmed whether the central bank’s phrase “cash-like currency” meant physical cash. Authorities did not disclose what foreign currency was used or how the money was transferred. Iran is using control of the Strait of Hormuz and the fee policy as leverage in talks with the United States. In shipping markets, analysts say the larger question is whether the fee system becomes entrenched, rather than the payment method.* This article has been translated by AI. 2026-04-24 20:24:22
  • PM Kim Min-seok calls for whole-of-government approach to AI education
    PM Kim Min-seok calls for whole-of-government approach to AI education Prime Minister Kim Min-seok said artificial intelligence education should be treated as a whole-of-government task, not the sole responsibility of the Education Ministry. Yonhap News Agency reported that Kim chaired a meeting of relevant ministers on AI education on Thursday afternoon at the Government Complex Seoul. “AI has a major impact across all areas, including how government operates and education, as well as our society,” he said. Kim said AI education cannot remain confined to one ministry. “In the process of developing, applying and using AI, matters related to education are difficult to define as only the Education Ministry’s task and role,” he said. He called on all related ministries to comprehensively review issues tied to AI learning and education and then begin an overall plan. He also urged steps to expand opportunities for people to experience AI and to improve AI-use skills nationwide. Kim asked officials to also examine ways to strengthen AI development capabilities and to build related infrastructure effectively. The meeting discussed strengthening AI capabilities for elementary, middle and high school students, training AI talent through higher education, and expanding lifelong learning to boost AI skills for everyone. Attendees included Education Minister Choi Kyo-jin, Climate, Energy and Environment Minister Kim Sung-hwan, Science and ICT Vice Minister Ryu Je-myeong, Unification Vice Minister Kim Nam-joong, and Lim Moon-young, standing vice chair of the National AI Strategy Committee.* This article has been translated by AI. 2026-04-24 20:04:49
  • Samsung Electronics union reports rally outside Chairman Lee Jae-yong’s home on first strike day
    Samsung Electronics union reports rally outside Chairman Lee Jae-yong’s home on first strike day Samsung Electronics’ labor union has reported plans to hold a rally outside the home of Chairman Lee Jae-yong on the first day of a planned general strike, escalating a dispute over the company’s performance-bonus system beyond the workplace. The Samsung Electronics National Union said Thursday it filed a report with the Yongsan Police Station in Seoul for a gathering at 1 p.m. on May 21 in Hannam-dong, Yongsan-gu, outside Lee’s residence. The reported turnout is about 50 people. The union has announced an 18-day strike from May 21 through June 7. The event is expected to be conducted more as a news conference to publicize the strike plan than as a large-scale demonstration, according to the union. The union is demanding the removal of the cap on performance bonuses and payment of bonuses equal to 15% of operating profit. The Samsung Electronics Labor Union Joint Struggle Headquarters held a rally Wednesday outside the company’s Pyeongtaek campus in Gyeonggi province, urging management to accept its demands. The union has been negotiating with management since December over changes to the bonus system and other issues but has not reached an agreement. It has argued that the criteria for calculating bonuses are unclear and that one-time compensation will not resolve the problem. 2026-04-24 19:57:17
  • Democratic Party leader Jeong Cheong-rae makes private hospital visit to fasting lawmaker Ahn Ho-young
    Democratic Party leader Jeong Cheong-rae makes private hospital visit to fasting lawmaker Ahn Ho-young Jeong Cheong-rae, leader of South Korea's Democratic Party, paid a private hospital visit to Rep. Ahn Ho-young, who was hospitalized after his health worsened during a hunger strike, Yonhap News Agency reported. According to Yonhap, Jeong visited Ahn at Green Hospital in Seoul's Jungnang district at about 4:50 p.m. on Thursday. Jeong and Rep. Kim Young-hwan met with Ahn for about 15 minutes, the report said. Ahn began the hunger strike after losing the Democratic Party's primary for North Jeolla Province governor to Lee Won-taek on April 11. Ahn has demanded a renewed party inspection into allegations involving a third party paying meal expenses linked to Lee. On the 12th day of the fast, April 22, Ahn was taken to the hospital as his condition deteriorated. During the visit, Jeong told Ahn, "You fasted for 12 days, so you should be hospitalized for 12 days to receive treatment. I hope you recover soon," according to the report. Jeong also reportedly suggested having a meal together after Ahn is discharged. Yonhap said there was no mention of a renewed inspection into Lee or of local elections. Jeong had faced criticism within the party for not visiting Ahn's hunger strike site set up at the National Assembly. Supreme Council member Lee Eon-ju said April 22 that she felt "deeply ashamed" that the party leader had not come even once to "hold his hand." Supreme Council member Kang Deuk-gu also said he did not agree with a party leader "turning away" while a party lawmaker had been on a hunger strike for more than 10 days. * This article has been translated by AI. 2026-04-24 19:48:22
  • Macron Says He Won’t Stay in Politics After Leaving Office, Rejects 2032 Return Talk
    Macron Says He Won’t Stay in Politics After Leaving Office, Rejects 2032 Return Talk French President Emmanuel Macron said he plans to step away from politics after leaving office next year. According to TF1 and other French media on April 24, Macron was asked about his political future a day earlier while meeting students at the French-Cypriot School in Nicosia, Cyprus. “I don’t have a career plan,” he said, adding, “I wasn’t in politics before I became president, and I won’t be afterward.” Macron cannot run in the 2027 presidential election. France’s constitution sets the presidential term at five years and bars the same person from serving more than two consecutive terms. Macron was first elected in 2017 and won reelection in 2022. In French political circles, speculation has persisted that Macron would try to maintain influence after leaving office, including by shaping the centrist camp and succession plans. Some observers have also suggested he could keep open the option of returning for the 2032 election. Le Monde reported in July last year that Macron had made remarks that appeared to hint at a possible 2032 comeback. His latest comments appeared to distance him from that idea. Macron also spoke about priorities for the remainder of his term. “After nine years, the hardest thing is to protect what you did well and keep moving forward, while also revisiting what you didn’t do well or didn’t explain well,” he said. “If you don’t take it up again and carry it through to the end, you’ll regret it too much.” Before entering politics, Macron worked at Rothschild as an investment banker. Under President Francois Hollande, he served as deputy secretary-general at the Elysee Palace and as economy minister, and in 2016 he launched the centrist political movement En Marche. The political environment late in Macron’s term remains difficult. Since the 2024 snap parliamentary election, France has lacked a clear majority in the National Assembly. The far-right National Rally (RN) and the left are expanding their bases ahead of the next presidential race, while competition over succession has intensified within Macron’s camp. Some local political figures see Macron’s remarks as a signal he may retire from politics. Others note that former presidents have often retained influence without holding office, leaving Macron’s actions after 2027 an open question. * This article has been translated by AI. 2026-04-24 19:33:18
  • Court to Livestream Kim Keon Hee Appeal Verdict on April 28
    Court to Livestream Kim Keon Hee Appeal Verdict on April 28 Kim Keon Hee’s appeal verdict will be broadcast live on April 28 after the court approved real-time public access, citing the public interest and strong social attention. The Seoul High Court said April 24 that its Criminal Division 15-2 (Judges Shin Jong-oh, Sung Eon-ju and Won Ik-seon) will livestream the sentencing hearing at 3 p.m. on April 28 in Kim’s case. The broadcast is expected to show Kim seated in the defendant’s chair and the courtroom interior in real time. Kim was indicted over allegations tied to Deutsche Motors stock price manipulation, the free provision of opinion polls, and receiving money and valuables linked to the Unification Church. In the first trial, the court found her not guilty on the Deutsche Motors stock manipulation and opinion-poll allegations. It convicted her on part of the Unification Church-related allegations and sentenced her to 1 year and 8 months in prison. On appeal, the special counsel sought 11 years in prison, a 2 billion won fine and forfeiture of 832.3 million won over the Deutsche Motors and Unification Church-related charges. For the alleged violation of the Political Funds Act, the special counsel requested four years in prison and forfeiture of 137.2 million won. A central question in the appeal is whether the first court’s not-guilty and partial-guilty findings will stand, along with any change in sentence. Separately, the Seoul High Court said it will also livestream the appeal verdict in former President Yoon Suk Yeol’s case over allegations of obstructing an arrest by the Corruption Investigation Office for High-ranking Officials. That verdict is scheduled for 3 p.m. on April 29.* This article has been translated by AI. 2026-04-24 19:18:20
  • Poland’s Tusk Questions Whether U.S. Would Honor NATO Defense Pledge if Russia Attacks
    Poland’s Tusk Questions Whether U.S. Would Honor NATO Defense Pledge if Russia Attacks Polish Prime Minister Donald Tusk has publicly questioned the United States’ commitment to NATO’s collective defense pledge, saying Europe’s security hinges on whether Washington would act if Russia attacked a member state. Reuters reported on 24일(현지시간), citing a Financial Times interview, that Tusk said, “Europe’s biggest and most important question is whether, if Russia attacks a NATO member, the United States is ready to act as a loyal ally, as the treaty states.” His remarks reflect concerns that U.S. policy toward Europe and pressure on allies under President Donald Trump have shaken confidence in Washington’s security guarantees. Tusk described the risk of a Russian attack as a near-term threat. “The key question for the entire eastern front and for my neighboring countries is whether NATO is ready — politically and also militarily and logistically — to respond to a situation like a Russian attack,” he said. Calling it “a really serious issue,” he added that he was speaking in “months, not years.” He said other NATO members should treat collective defense obligations as seriously as Poland does, and that allies need confidence they attach the same weight to those duties. Poland is a key NATO country on the alliance’s eastern flank, bordering Russia and Belarus. Tusk also urged a stronger role for the European Union. He said the EU must become a “real ally” in protecting the continent and called for clearer implementation of Article 42(7) of the EU treaty, the mutual defense clause requiring member states to assist a country that comes under armed attack. He said defense pledges must be backed by real capabilities. “To be a real alliance, not just one on paper, you need real tools and strength, including the ability to move defense assets and troops across countries,” Tusk said. He called it “a very practical issue today,” adding that his “obsession and mission” is to reunite Europe through “a joint effort for common defense and protection of the eastern border.”* This article has been translated by AI. 2026-04-24 19:09:18
  • South Korea Forecast: Clear Skies, Highs Up to 31C With Wide Day-Night Swings
    South Korea Forecast: Clear Skies, Highs Up to 31C With Wide Day-Night Swings Saturday the 25th is expected to be mostly clear nationwide, with inland areas heating up to around 30C, bringing early-summer-like warmth. Morning temperatures, however, will drop to around 10C in many places, creating sharp day-to-night swings. Forecast morning lows include 8C in Seoul, 7C in Chuncheon, 8C in Gangneung, 6C in Daejeon, 7C in Jeonju, 7C in Gwangju, 4C in Daegu, 10C in Busan and 11C on Jeju Island. Afternoon highs are expected to reach 27C in Seoul, 29C in Chuncheon, 25C in Gangneung, 30C in Daejeon, 30C in Jeonju, 31C in Gwangju, 27C in Daegu, 21C in Busan and 19C on Jeju. Seoul is forecast to rise from 8C in the morning to 27C in the afternoon, a 19C swing. Daejeon is expected to climb from 6C to 30C, and Gwangju from 7C to 31C, with inland areas seeing especially large gaps. Conditions will also be dry. A dry weather advisory has been issued for northwestern Seoul and for Chuncheon, Gangneung, Daejeon, Jeonju and Daegu, and authorities urged caution to prevent wildfires and other fires. The Korea Meteorological Administration said that even if temperatures rise sharply during the day, it may feel cool in the morning and at night, advising people to bring a light outer layer when going out.* This article has been translated by AI. 2026-04-24 18:03:26
  • Meta to Cut About 8,000 Jobs; Microsoft Offers Voluntary Exits as AI Costs Rise
    Meta to Cut About 8,000 Jobs; Microsoft Offers Voluntary Exits as AI Costs Rise U.S. Big Tech companies are again moving to shrink their workforces as spending surges for artificial intelligence data centers and high-priced talent. The push to streamline existing organizations and shift staffing toward AI is accelerating. Meta plans to cut about 8,000 employees, roughly 10% of its workforce, according to AP and The Guardian. The company also will not fill 6,000 roles that were in the hiring pipeline. The layoffs are set to begin May 20. Microsoft has prepared a voluntary departure program for about 8,750 U.S. employees. AP, citing sources, reported the company plans to make the offer in early May to about 7% of its U.S. workforce. The Guardian said a voluntary program of that size in the United States is unusual for Microsoft. The staffing moves come as both companies expand AI investment. Meta has warned investors that total costs this year could rise to $162 billion to $169 billion as spending increases for AI infrastructure and recruiting highly paid AI specialists. AP reported that Meta is cutting jobs in the name of efficiency while ramping up AI infrastructure investment and AI hiring. In an internal memo, Meta did not cite AI as a direct reason for the layoffs, but the goal of easing cost pressure was clear. The Guardian reported that Meta Chief People Officer Janelle Gale said the move is intended to offset other investment costs. Meta CEO Mark Zuckerberg previously said some projects no longer require large teams because outstanding individuals can use AI to handle the work. Microsoft faces similar pressure as it pours money into cloud and AI data centers and AI services such as Copilot. The Guardian reported Microsoft is expected to spend $100 billion on AI infrastructure in the next fiscal year, while analysts estimate actual spending could reach $110 billion to $120 billion. Workforce reductions are spreading across the tech sector. Reuters reported Amazon has been preparing additional cuts as it targets reducing about 30,000 office jobs. Block said it will cut more than 4,000 employees, about 40% of its workforce, as part of a restructuring to embed AI tools across company operations. The AI investment race is reshaping Big Tech’s fixed costs. Where labor and server operations once dominated, companies now face rising costs for AI chips, data centers, power and compensation for AI research staff. If revenue growth does not keep pace, pressure increases to offset costs through job cuts. The impact is extending to office and software development roles. Microsoft CEO Satya Nadella has said 20% to 30% of the company’s internal code was being written by AI last year. The Guardian reported growing concern among Big Tech employees that AI could replace jobs. Restructuring tied to the AI shift is likely to continue for now, though the reasons cannot be reduced to AI-driven replacement alone. Gartner Senior Director Analyst Kathy Ross said, “AI-driven layoffs are getting attention, but the reality is more complex,” adding that as companies confront AI’s limits and higher customer expectations, they may need to invest in staffing again to maintain service quality and growth.* This article has been translated by AI. 2026-04-24 17:24:18