BTS Comeback D-24: What Is Your Love Song? SEOUL, February 25 (AJP) - “What is your love song?” The question flashes on screens from Seoul to New York’s Times Square. It makes you pause. It sends you back — to a first confession, a quiet heartbreak, a family memory, even a hard-earned sense of self. A song can seal emotion inside three minutes and return it intact years later. Few artists understand that power better than BTS. K-pop amplifies emotion through collective empathy. A message delivered on stage rarely ends there; it is reinterpreted, shared and woven into personal stories. In 2018, BTS’s Love Yourself series shifted the genre’s emotional axis. Instead of centering romance, it foregrounded identity. In “Epiphany,” the line — “I’m the one I should love” — reframed love as self-recognition. That message arrived at a time of relentless comparison. On social media, curated success and filtered perfection have become the standard. For many young people, visibility is confused with worth. In that environment, affirmation carries weight. The question is not whether music heals — but how far its influence reaches. Data from the Health Insurance Review and Assessment Service show that depression among Koreans in their 20s rose sharply in recent years, with the total number of patients surpassing 1.1 million in 2024. Anxiety cases followed a similar trajectory. At the same time, research increasingly shows that lyrics shape emotional states. A 2024 study analyzing streaming histories found that listeners at higher risk of depression gravitated toward low-positivity, low-energy themes. If negative messages reinforce mood, the reverse may also hold true. Lee Hae-woo, a psychiatry professor at Kangwon National University, describes media messages as “contagious.” Just as harmful coverage can trigger the “Werther effect,” repeated exposure to resilience-focused narratives can produce the “Papageno effect,” encouraging coping rather than despair. Positive language, she notes, can support cognitive reframing — a core principle of cognitive behavioral therapy. Music is not medicine. But it can be an emotional buffer. A 2025 meta-analysis published in Psychology of Music reviewed 82 studies and found that song lyrics have measurable psychological effects, strongly influencing emotional responses and moderately shaping attitudes and behavior. Lyrics function as cultural narratives; they influence how listeners interpret themselves and the world. Within BTS’s fandom, ARMY, “Love Yourself” evolved from a slogan into lived language. Fans describe turning to the message during periods of low self-esteem, sometimes alongside professional treatment. Such testimonies are not clinical evidence. But they reveal how music can become part of a recovery narrative — not replacing therapy, but reinforcing self-worth. In a culture saturated with “healing” content, self-love can itself become performative. Yet BTS’s framing remains direct and durable. It does not promise transformation. It invites reflection. So what is your love song? It may not be about romance at all. It may be about the moment you chose to see yourself differently. Music cannot cure. But it can create a pause — a space where recognition replaces comparison. And sometimes, that pause is enough to begin. 2026-02-25 17:37:52

"Up, up, up": KOSPI zooms past 6,000 — and where next? SEOUL, Feb 25 (AJP) - It took the KOSPI three months to climb from 4,000 to 5,000 — and less than a month to zoom past 6,000. On Wednesday, the index closed at a record 6,083.86, capping one of the fastest rallies in its history. The jump is striking for a market that once waited more than a decade to reach each new four-digit milestone: 1,000 in 1989, 2,000 in 2007 and 3,000 in 2021. The index finally broke above the 4,000 on Oct. 17, and then landed above 5,000 on Jan. 27. The next 1,000-point rise was a breeze. How fast the record will be broken will be a riskier and costlier bet. Behind the rally lies an enormous pool of dry powder. As of Tuesday, investor deposits totaled 107.9 trillion won, the third-highest level on record. Money Market Funds stood at an all-time high of 235 trillion won, signaling strong institutional liquidity. But the higher the stakes, the greater the risk. The KOSPI Volatility Index (VKOSPI) rose to 49.48 on Wednesday, up more than 60 percent from the start of the year. Although below this year’s peak, the increase is unusually sharp — especially compared with the modest rise seen throughout 2025. Short-selling activity is also building. According to the Korea Financial Investment Association, outstanding stock lending balances reached about 153 trillion won as of Feb. 24, up nearly 40 trillion won since the start of the year. Such growth is often seen as a precursor to expanded short-selling. Rising lending balances suggest that more investors are positioning for potential declines after the recent surge. Leverage is another source of concern. Outstanding credit loans stood at about 32 trillion won as of Feb. 24. Investors using borrowed funds tend to focus on short-term trading, making markets more vulnerable to sudden sell-offs. If volatility triggers margin calls, forced liquidations could accelerate losses and amplify swings. “Investors’ risk appetite has increased significantly, leading to a surge in credit loan balances,” said Park Seok-hyun, an analyst at Woori Bank. “This could exacerbate market volatility.” Reflecting these risks, several brokerage firms have tightened or suspended stock-backed lending since early February. Valuation is also under scrutiny. The KOSPI’s price-to-book ratio is estimated at around 2 — high by historical standards — while return on equity has only recently reached the 9 to 10 percent range. Critics argue that this gap suggests stretched pricing. “The only other times the PBR approached this level were during the IT bubble and before the global financial crisis,” said Heo Jae-hwan, an analyst at Eugene Securities. The index’s PBR peaked at 1.87 in November 2007, shortly before the subprime mortgage crisis triggered a sharp collapse. Still, Heo downplayed the risk of a crisis-scale downturn. “The domestic market is finally shedding its long-standing undervaluation,” he said. “This is a turning point rather than a bubble.” 2026-02-25 17:34:28

Presbyopia Eye Drops Near Korea Launch as Competition Builds South Korea is moving closer to introducing prescription eye drops for presbyopia, drawing growing attention as a non-surgical alternative to glasses, contact lenses and procedures. With convenience a key selling point, early competition is expected to sharpen as more products near launch. According to market research firm Expert Market Research’s “South Korea Myopia and Presbyopia Treatment Market Report and Forecast,” the country’s myopia and presbyopia treatment market is projected to grow from $631.63 million in 2025 to $1.24251 billion in 2035. The report cited a younger onset age for presbyopia as expanding the potential patient pool. Presbyopia eye drops work by constricting the pupil to create a “pinhole effect,” improving near vision and depth of focus. In the United States, four products have been approved since AbbVie’s Vuity in 2021: Orasis Pharmaceuticals’ Qlosi, Lenz Therapeutics’ Vizz, and Tenpoint Therapeutics’ Uvage. Of those, the three products other than Vuity are effectively within sight of entering the South Korean market. Vuity benefited from a first-mover advantage in the U.S., but headaches and eye redness, along with a short duration of about three to four hours, have been cited as drawbacks. Uvage, Qlosi and Vizz are not new-mechanism drugs; they recombine or refine existing ingredients, focusing on improving duration and side effects. As a result, analysts say commercialization capabilities, more than differences in efficacy, may determine winners. Kwangdong Pharmaceutical holds exclusive rights in South Korea for Uvage, which received U.S. Food and Drug Administration approval this month. The company said it applied for approval with South Korea’s Ministry of Food and Drug Safety in September last year, and expects the domestic review to pick up speed. A Kwangdong Pharmaceutical official said the company is fostering ophthalmology as a next growth engine, citing pediatric myopia drug candidate NVK002, ophthalmic rare-disease treatment Lacson, and retinitis pigmentosa candidate OCU400. The official said it plans to strengthen its position by using a sales network built through its existing eye-care business. Optus Pharmaceutical, a subsidiary of Samchundang Pharmaceutical, signed an exclusive domestic license and supply agreement with U.S.-based Orasis Pharmaceuticals in September 2024 for Qlosi and is preparing to launch Qlosi 0.4% within this year. With single-use eye-drop manufacturing infrastructure and expertise in ophthalmic drugs, the company is seen as well positioned to expand early prescriptions after entering the market. Taiwan’s Lotus Pharmaceutical signed an exclusive license with Lenz Therapeutics for commercialization rights to Vizz in South Korea and parts of Southeast Asia, and applied in December last year for new-drug approval from South Korea’s Ministry of Food and Drug Safety. In South Korea, the pace of market entry is expected to depend on the sales infrastructure of Lotus subsidiary Alvogen Korea, and how quickly it can expand a sales network focused on obesity and women’s health into ophthalmology. In the United States, presbyopia eye drops sell for about 100,000 won for a month’s supply, or 25 doses. In South Korea, the products are likely to launch outside insurance coverage, raising the possibility of price competition, but safety is also expected to be central to early market leadership. Jeong Yoon-taek, head of the Korea Pharmaceutical Industry Strategy Research Institute, said price resistance is likely, but an image of “low side effects” could become important. He added that companies may also need strategies that emphasize the products’ lifestyle-drug nature for temporary needs depending on time, place and situation.* This article has been translated by AI. 2026-02-25 17:27:00

China's Seedance unleashes dispute on how far AI can go in fiction SEOUL, February 25 (AJP) - The release of Seedance 2.0, an AI-powered video generator developed by ByteDance, has triggered a fresh wave of copyright disputes between technology firms and the global entertainment industry amid blurry border in the fictional realm. After users began circulating AI-generated clips featuring characters resembling Spider-Man and Deadpool, major studios including Disney and Paramount Pictures issued cease-and-desist letters, accusing the platform of enabling large-scale copyright infringement. To assess the legal and regulatory implications, AJP spoke with leading legal scholars in Asia, Europe, Australia, and the United States. Their views suggest that the controversy sits at the intersection of unsettled law, rapid technological change, and growing pressure for industry self-regulation. Training Data vs. Copyrighted Expression Park Kyung Sin, a professor of law at Korea University, draws a crucial distinction between learning from copyrighted material and reproducing it. “Whether AI can claim authorship is a separate question from whether it should be allowed to train on copyrighted works,” Park said. “Copyright protects expressions, not ideas.” In his view, most AI training resembles human learning. “AI does not retain books, films, or images as such. It retains statistical relationships between tokens. Just as a human can read a book and absorb its ideas without infringing copyright, a machine should be able to do the same.” However, Park cautions that the technical process itself may pose legal problems. “The tokenization process involves copying copyrighted works. Technically, that can constitute infringement. Courts are now debating whether this copying qualifies as fair use.” U.S. courts have reached mixed conclusions, while some European rulings have taken a more restrictive stance. More troubling, Park argues, is Seedance’s apparent ability to reproduce recognizable characters. “If Seedance retains and reproduces complete images of Spider-Man on demand, that is clearly infringement,” he said. “ByteDance can and should install filters to block outputs that replicate training material.” He added that while parody and satire can sometimes justify reuse, mass automated reproduction does not. Who Owns AI-Created Works? Ilanah Fhima, professor of intellectual property law at University College London, points to deep international uncertainty over authorship. “There is no global consensus on whether copyright should exist in AI-generated works,” she said. “Most copyright laws were written before this technology existed.” Copyright traditionally rests on human originality. That assumption is now under strain. “The U.S. has refused to recognize AI as an author,” Fhima noted. “The UK, however, has long recognized ‘computer-generated works,’ although this has not yet been tested in modern AI cases.” China has issued rulings suggesting limited protection for AI-generated content, while other jurisdictions remain undecided. Another unresolved question concerns users. “There is an ongoing debate about whether the person who designs the prompt should receive copyright, based on their creative input,” Fhima said. These differences mean that cases against platforms like ByteDance could set precedents far beyond any single country. Fair Use and Platform Responsibility David Super, a professor at Georgetown University, sees multiple legal vulnerabilities in AI video tools. “First, training often involves physical copying,” he said. “That likely counts as copying under copyright law.” Whether such copying qualifies as fair use remains unclear. “Fair use usually requires that the copying not undermine the market for the original work,” Super explained. “If AI-generated videos substitute for movies or licensed clips, that argument weakens.” Beyond training data, Super highlighted the issue of secondary liability. “Selling technology that enables illegal copying can itself create liability,” he said, citing landmark U.S. cases involving video recorders and file-sharing software. While earlier rulings protected technologies with legitimate uses, later decisions imposed liability when companies encouraged infringement. “Many AI tools advertise themselves as ‘uncensored,’” Super said. “Courts may see that as encouraging copyright violations.” If so, manufacturers could be held responsible for how users deploy their products. Cultural Change and Platform Regulation Akshaya Kamalnath, professor at the Australian National University College of Law, argues that the debate extends beyond courtroom doctrine. “This is also a cultural shift,” she said. “AI clips often function more like memes than traditional films.” That distinction, she suggests, may push regulators toward platform-based solutions rather than relying solely on copyright lawsuits. Actors and performers, meanwhile, face separate risks. “Individuals can object to the unauthorized use of their likeness,” Kamalnath noted. “This overlaps with deepfake regulation.” In India, platforms must remove deepfakes within hours of receiving notices. Similar rules are emerging elsewhere. She also points to competitive pressures. “Companies are racing to release products first and fix problems later. This reflects competition not only between firms, but between countries.” The Rise of Industry Guardrails James Grimmelmann, professor of digital and information law at Cornell University, observes that many AI firms are now moving toward self-regulation. “There are still no definitive court rulings,” he said. “But most companies are building copyright guardrails into their systems.” These systems aim to block outputs involving identifiable characters, celebrities, or copyrighted scenes. “Seedance launched without strong safeguards,” Grimmelmann said. “ByteDance quickly realized that was risky and began adding them.” He believes such measures are now becoming standard. “Companies understand that without guardrails, they face serious legal exposure.” A Test Case for AI and Entertainment Taken together, experts agree that the most immediate legal danger for platforms like Seedance lies not in training data, but in output. Reproducing recognizable characters, enabling large-scale imitation, and marketing tools in ways that encourage infringement all carry significant risk. ByteDance has promised new safeguards, but has not paused the rollout of Seedance 2.0. At the same time, lawsuits against other AI firms signal that the conflict is far from isolated. The coming years are likely to determine whether courts accept the idea that AI “learns like humans,” or conclude that mass automated generation fundamentally alters creative markets. For now, the Seedance controversy stands as an early test of how law, culture, and technology will negotiate the boundaries of creativity in the age of machines. 2026-02-25 17:25:35

Asian stocks rally ahead of Nvidia earnings; Nikkei hits Record, KOSPI breaks 6,000 SEOUL, February 25 (AJP) - Asian equities advanced broadly on Tuesday ahead of Nvidia’s earnings report due at February 26 at 6 a.m. (Korea time), with Japan and South Korea both closing at record levels as technology shares led gains. Nikkei Closes Above 58,000 for First Time Japan’s Nikkei 225 climbed 2.20 percent, or 1,262.03 points, to close at 58,583.12, decisively surpassing its previous high of 57,650, recorded on Feb. 10 following the lower house election. It marked the first close above the 58,000 level. The broader TOPIX index rose 0.71 percent to 3,843.16. Semiconductor-related shares led gains ahead of Nvidia’s quarterly results. Tokyo Electron rose 4.2 percent to 46,230 yen ($296.73), while Advantest also advanced. Cable manufacturer Fujikura jumped 6.5 percent to 26,825 yen ($172.18) after announcing a stock split, extending recent momentum. The rally gathered further strength around midday after reports that two dovish candidates were nominated to the Bank of Japan’s policy board. Both are viewed as supportive of accommodative monetary policy, dampening expectations for an early rate hike. The Nikkei briefly gained more than 1,500 points throughout the day, approaching the 59,000 level before profit-taking trimmed gains. KOSPI Breaks 6,000 for First Time In Seoul, the benchmark KOSPI rose 1.9 percent, or 114.22 points, to finish at 6,083.86, marking its first-ever close above the 6,000 threshold. The index touched high of 6,144.7 and a low of 5,984.3. The milestone comes less than a month after the KOSPI stood at 5,084.85 on Jan. 27, underscoring the strength of the recent rally. The tech-heavy KOSDAQ edged up 0.02 percent to 1,165.3. Institutions Offset Foreign Selling Institutional investors were big buyers with 880.3 billion won ($616 million), on the KOSPI, as well as individuals adding 232.2 billion won. Foreign investors sold 1.29 trillion won. On the KOSDAQ, individuals purchased 392.8 billion won, while foreigners and institutions sold 236.2 billion won and 130 billion won, respectively. The divergence indicates that the rally is being sustained primarily by domestic liquidity rather than foreign inflows. Chips and Autos Lead Korean Gains Heavyweight chipmakers extended gains ahead of Nvidia’s earnings, widely viewed as a bellwether for global AI demand and semiconductor supply chains. Samsung Electronics rose 1.8 percent to close at 203,500 won, while SK hynix gained 1.3 percent to 1,018,000 won. Automakers also surged. Hyundai Motor jumped 9.2 percent to 572,000 won after announcing plans to invest 10 trillion won over the next five years in the Saemangeum region, focusing on data centers and robotics production facilities. The investment signals a strategic expansion into AI-linked industrial infrastructure and advanced manufacturing, reinforcing optimism in export-oriented sectors. LG Energy Solution climbed 3.3 percent, and Samsung Biologics added 0.3 percent. Trade Uncertainty Remains in Focus Market participants also weighed remarks from U.S. President Donald Trump. His state address offered limited immediate signals for Asian markets but underscored lingering uncertainty surrounding trade policy. Separately, Korea’s Ministry of Trade, Industry and Energy set a 2026 export target of $740 billion at its first public-private export strategy meeting of the year. Exports totaled $709.7 billion last year, placing the country among the six economies globally to surpass the $700 billion mark. The government aims to enter the top five global exporters by diversifying products and markets beyond semiconductors and heavy reliance on the United States and China. Eight strategic sectors were designated, including semiconductors, defense, nuclear power, autos, shipbuilding, steel, power equipment and consumer goods. Expanded trade financing measures were also unveiled. While the initiatives are intended to strengthen medium-term competitiveness, their immediate impact on equities appeared limited. Regional Gains Follow Wall Street Advance Elsewhere in Asia, China’s Shanghai Composite rose 0.7 percent and Hong Kong’s Hang Seng Index gained 0.5 percent. The regional rally followed overnight gains on Wall Street, where the Dow rose 0.8 percent, the Nasdaq climbed 1.1 percent and the S&P 500 advanced 0.8 percent. The Korean won strengthened to 1,430.0 per dollar, gaining 12.5 won, or 0.9 percent, from the previous session. 2026-02-25 17:23:25

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’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, 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 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 “ 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