KOSPI Hits Record High as Bond Yields Jump on Surprise GDP Growth South Korea’s stock and bond markets moved in opposite directions Thursday, with the KOSPI extending its record run while government bond yields surged after a stronger-than-expected first-quarter growth report raised concerns about tighter monetary policy. According to the Korea Exchange, the KOSPI closed up 57.88 points, or 0.90%, at 6,475.81. The index climbed as high as 6,557.76 during the session, setting an intraday record. Investor sentiment was supported after the S&P 500 and Nasdaq hit record highs overnight on an extension of a Middle East ceasefire and strong earnings from major companies. Samsung Electronics led gains after rising to 229,500 won, an all-time high. Shares of companies seen as benefiting from strong earnings expectations also advanced, including LS ELECTRIC, up 11.74% after posting its biggest quarterly profit, and Doosan Enerbility, up about 5.78%. Bond markets, however, were jolted by economic data released earlier in the day. At 8 a.m., the Bank of Korea reported real GDP growth of 1.7% in the first quarter, nearly double the market forecast of 0.9%. As strong growth tied to a semiconductor upcycle was confirmed, expectations for interest-rate cuts later this year faded quickly, triggering heavy selling in bonds. Data from Koscom’s Check terminal showed yields rose across the curve. The two-year government bond yield posted the sharpest jump, up 10.1 basis points from the previous day. The three-year yield rose 9.6 basis points and the five-year yield gained 9.2 basis points, both up more than 9 basis points. Yields on longer maturities also climbed: the 10-year rose 9.5 basis points, the 20-year gained 7.9 basis points and the 30-year added 7.5 basis points. Analysts said the larger rise in short-term yields suggests markets are revising the expected path of rate cuts and pricing in tighter conditions sooner. Brokerages said volatility could persist as investors react to data surprises. A securities industry official said first-quarter GDP was strong on the semiconductor upcycle, but growth could slow slightly as Middle East risks are reflected. With geopolitical uncertainty lingering, the official said market rates are likely to swing as investors watch both economic indicators and developments in the region.* This article has been translated by AI. 2026-04-23 17:06:51

Samsung Bioepis Q1 Operating Profit Rises 13% to 144 Billion Won Samsung Bioepis said April 23 that it posted first-quarter revenue of 454.9 billion won and operating profit of 144.0 billion won. Revenue rose 14% from a year earlier and operating profit increased 13%. The company said the results meet its early-year sales guidance calling for growth of more than 10% from the previous year. It cited expanded global biosimilar sales and a broader new-product portfolio as key drivers. Samsung Bioepis said sales were supported by existing products including SB4, an Enbrel biosimilar marking its 10th year on the European market, as well as the impact of new product launches in the United States. In Europe, the company directly sells four products. For SB15, an Eylea biosimilar, it said it has been discussing potential launch timing with the originator developer, targeting Europe this month and the United States in January next year. In the United States, Samsung Bioepis said it signed a private-label supply agreement in October last year with CVS Caremark, one of the country’s three major pharmacy benefit managers, for SB16, a Prolia biosimilar, and launched it on the market. The company is also pursuing new-drug development. It recently began a global Phase 1 clinical trial of an antibody-drug conjugate candidate, and said additional pipelines being co-developed with China’s Frontline are in the preclinical stage. Separately, Samsung Epis Holdings reported consolidated revenue of 453.9 billion won and operating profit of 90.5 billion won. It returned to an operating profit in the first quarter after reporting consolidated revenue of 251.7 billion won and an operating loss of 63.6 billion won in November and December last year. The company said noncash accounting consolidation adjustments, including amortization of purchase price allocation development costs, were reflected in the results.* This article has been translated by AI. 2026-04-23 17:04:52

Korea Financial Regulators Stall Insurance Training Institute’s Token, AI Plans South Korea’s Insurance Training Institute, a nonprofit education body, is seeking to expand into new digital-asset-based businesses beyond its core training mission, but financial regulators have not approved the move, effectively putting the plan on hold. The delay is also fueling debate over whether the expansion fits the purpose of an educational institution. According to reporting by Ajunews on the 23rd, the institute submitted an application to the Financial Services Commission on Feb. 9 seeking approval to amend its charter. The proposed changes center on issuing an “education token” and establishing and investing in an AI subsidiary. More than two months later, approval has not been granted, the report said. The institute separately filed a request on the 2nd asking to be notified of the outcome and urged a prompt decision, but the commission still has not signed off. Through the charter revision, the institute aimed to issue an “education token” for uses such as paying course fees and to lay the groundwork for eventually expanding globally with a digital-asset-based payment infrastructure. Critics say the effort could go beyond the role of a nonprofit training institution. The institute was established to educate insurance industry workers, raising questions about whether issuing tokens or expanding revenue-generating activities through a subsidiary aligns with its founding purpose. Some observers say a business model that includes issuing and operating digital assets could effectively amount to a separate finance or platform business. An FSC official said there were concerns the plan could fall outside an education institution’s role, and that the commission has asked the institute for legal opinions and supplemental materials. There is also criticism that pushing a charter change premised on token issuance is premature because a basic law on digital assets that would include requirements for issuing stablecoins has not been enacted. Under the FSC’s “guidelines on cashing out virtual assets held by nonprofit corporations,” announced in May last year, nonprofit virtual-asset transactions are allowed only on a limited basis for converting donated assets into cash for donation management. Using virtual assets for payments, purchases or operations is not yet permitted. Cho Jeong-hee, an attorney at law firm Decode, said the current guidelines are intended to allow nonprofits to receive donations in virtual assets, adding that it is difficult to interpret and apply them more broadly. The institute, however, said the business is being reviewed within regulatory boundaries and does not pose a problem. An institute official said systems such as paying tuition with tokens or providing scholarships to trainees would be examined going forward, but added that no specific implementation plan has been set. * This article has been translated by AI. 2026-04-23 17:04:00

South Korea to Speed Arctic Shipping Route Plans as Supply Chain Risks Grow As the prolonged Middle East situation adds to global supply chain uncertainty, the South Korean government said it will accelerate key policies including efforts to expand use of Arctic shipping routes. Officials said major tasks such as port infrastructure expansion will be reflected in the 2027 budget, alongside stronger coordination among relevant ministries. The Office of Planning and Budget and the Ministry of Oceans and Fisheries on Wednesday inspected operations at the ministry’s Busan headquarters and visited major policy sites, including the Yeongdo marine cluster and Busan New Port. They discussed investment plans tied to building a “marine capital region” and promoting Arctic routes. In addition to uncertainty stemming from the Middle East situation, heavy reliance on specific passages such as the Red Sea and the Strait of Hormuz has emerged as a core risk for shipping and logistics, officials said. The joint visit was arranged to prepare in advance for policy shifts by promoting the Arctic route as an alternative and by concentrating development of the marine capital region — which has related infrastructure — as a forward base for entering Arctic shipping lanes. Officials said Busan New Port, located at the intersection of three major routes — the Americas, Europe and the Arctic — is expected to play a central role as a global logistics hub. The Yeongdo marine cluster is expected to serve as a key base for the marine capital region by bringing together research, education and industry support functions in the oceans and fisheries sector, including policy development, talent training and technology dissemination. Kim Tae-gon, the Office of Planning and Budget’s director general for economic budget review, said, “Building the marine capital region and promoting Arctic routes will help overcome the capital region’s one-pole system and become a new growth engine for our economy.” He added that the office plans to “listen closely to voices from the oceans and fisheries field and actively reflect them in the policy process.” Lee Sang-ho, the ministry’s director general for policy planning, said the ministry “quickly completed its relocation to Busan in December 2025 and launched the Arctic Route Promotion Headquarters,” adding that it has already built an implementation system to foster the marine capital region. He said the ministry will continue to work closely with the budget office and other agencies to develop the region and promote Arctic routes. The two ministries said they plan to incorporate measures discussed during the visit — including steps to speed development of the marine capital region and key tasks such as port infrastructure expansion to promote Arctic routes — into major policies, including the 2027 budget proposal.* This article has been translated by AI. 2026-04-23 17:03:10

Kookmin University to hold third ceramic craft exhibition and sale SEOUL, April 23 (AJP) - Kookmin University will host the 2026 3rd Ceramic Craft Fair from May 14 to May 17 to showcase the work of emerging artists and facilitate the sale of student and alumni projects, the university said Thursday. The four-day event will take place in the lobby of the Kookmin University (KMU) Administration Hall in Seoul, South Korea. Students and alumni from the Department of Ceramic Craft within the College of Design are set to participate in the exhibition, which functions as an art platform where visitors can view and purchase various ceramic works. The fair is organized to provide students with practical market experience and help identify new talent in the field of ceramic arts. Revenue generated from the sales will be shared between the artists and the university to support a creative environment for local artists. Graduate students and alumni will serve as docents throughout the event to provide explanations of the production processes and the meaning behind specific works. The university will also utilize campus cafe spaces to integrate the exhibition into the daily environment of the campus. A hands-on workshop for children and families is scheduled for May 16 and May 17. Participants can design custom mugs using ceramic transfer techniques in sessions limited to 16 people, held five times per day. The exhibition has increased in size and participation since its launch. During the second annual fair held last year, singer and KMU alumna Lee Hyo-ri visited the campus to view the student projects. KMU President Jeong Seung-ryul said design and content are among the eight core specialized fields the university is prioritizing for its future development. "This fair will provide practical market experience for students and alumni while offering visitors the pleasure of owning art," President Jeong said. "KMU will continue to take the lead in expanding its role as a platform that connects art and industry." 2026-04-23 16:59:37

Hyundai Rotem Enters Vietnam Rail Market With Ho Chi Minh City Metro Line 2 Deal Hyundai Rotem said it signed a contract on April 23 (local time) with Vietnam’s THACO Group for the Ho Chi Minh City Metro Line 2 project, marking its first entry into Vietnam’s rail market. The deal is worth about 491 billion won. Metro Line 2 is a major rail infrastructure project being developed with a target opening in 2030. The line is planned to span 64 kilometers with 36 stations. Construction began in January, and the project is to be built in three phases. THACO Group, one of Vietnam’s leading conglomerates, is overseeing the Line 2 buildout. Hyundai Rotem will supply driverless electric multiple units for the line. Hyundai Rotem also signed a memorandum of understanding with THACO Group to supply the line’s signaling system, its first overseas supply of an unmanned driving signaling system. The company said it has worked to expand into Vietnam’s rail business since signing a localization agreement last year with THACO Group covering urban rail and high-speed rail rolling stock. Hyundai Rotem said the latest order provides a foothold for broader expansion and could support bids for large projects expected to be tendered, including the North-South high-speed rail project. The North-South high-speed rail project is estimated to total about 100 trillion won, making it Vietnam’s largest infrastructure development to date. "Entering Vietnam’s rail market for the first time, we have broadened our business base and built a meaningful foundation for local cooperation," a Hyundai Rotem official said. "We will work to establish ourselves as a partner contributing to the growth of Vietnam’s rail industry, seek new business opportunities, and help create a solid foundation for the development of Korea’s rail industry as well." Hyundai Rotem said it is also working with more than 500 partner companies to develop overseas markets and support joint expansion, including through a shared-growth fund, joint research and development, and other technical assistance.* This article has been translated by AI. 2026-04-23 16:58:16

Seoul High Court cancels 234.9 billion won fine in Samsung Wellstory catering case The Seoul High Court has ruled that the Fair Trade Commission must cancel fines totaling more than 200 billion won imposed on Samsung affiliates over allegations they funneled in-house catering contracts to Samsung Wellstory. According to the legal community on April 23, the court’s Administrative Division 3, led by Presiding Judge Yoon Kang-yeol, ruled for four affiliates — Samsung Electronics, Samsung Display, Samsung Electro-Mechanics and Samsung SDI — and Samsung Wellstory in lawsuits seeking to overturn the FTC’s corrective orders and other measures. The panel said the catering transactions, while sizable, could not be seen as providing Samsung Wellstory with excessive economic benefits. It added that the deals could not be recognized as unfair support likely to significantly undermine fair trade. The ruling lifts the burden of total fines of 234.927 billion won previously imposed by the FTC. The FTC had argued in 2021 that Samsung affiliates, under the direction of Samsung’s Future Strategy Office, steered work to Samsung Wellstory through private contracts to shore up its profits. It imposed fines totaling about 234.9 billion won: 101.22 billion won on Samsung Electronics, 22.86 billion won on Samsung Display, 10.51 billion won on Samsung Electro-Mechanics, 4.37 billion won on Samsung SDI and 95.97 billion won on Samsung Wellstory. The court rejected that reasoning, saying the evidence submitted was insufficient to accept the FTC’s claims about instructions from the Future Strategy Office or the alleged motive for the support. The decision is viewed as close to a final ruling because antitrust administrative cases in South Korea follow a two-tier structure in which the Seoul High Court reviews FTC decisions before any appeal to the Supreme Court. While the FTC may still appeal, the ruling is expected to affect a related criminal trial now underway. In 2021, the FTC also filed a complaint with prosecutors against Samsung Electronics as a corporate entity and Choi Gee-sung, a former head of the Future Strategy Office. Prosecutors indicted Choi and Samsung Electronics in 2022 on charges of violating the fair trade law, and a first trial is in progress.* This article has been translated by AI. 2026-04-23 16:53:37

South Korea flags 746 suspected illegal home deals in capital region probe The South Korean government said it found more than 700 suspected illegal housing transactions, including disguised gifts, in a targeted probe of deals in and around the capital. The Ministry of Land, Infrastructure and Transport said on the 23rd it conducted a planned investigation into home purchase reports filed from July to October last year, identifying 746 suspected illegal transactions involving 867 suspected violations. It said it notified relevant agencies. The ministry said the probe was launched amid concerns that market-disrupting practices would spread after measures such as tighter lending rules and an expansion of land transaction permit zones. An earlier review of reports filed from January to June last year covered Seoul and six areas in Gyeonggi Province — Gwacheon, Suji District in Yongin, Bundang and Sujeong districts in Seongnam, Dongan District in Anyang, and Hwaseong. The latest probe added nine more Gyeonggi areas: Gwangmyeong, Uiwang, Hanam, Namyangju, Guri, Jungwon District in Seongnam, and Jangan, Paldal and Yeongtong districts in Suwon. By type, the suspected violations included: disguised gifts and excessive borrowing from related parties (572 cases); false reporting of prices or contract dates (191); misuse of loan funds (99); violations of the Licensed Real Estate Agents Act (4); and a violation of the Real Name Real Estate Transactions Act (1). In one case, a buyer purchased a Seoul apartment for 11.75 billion won and financed 6.77 billion won by borrowing from a company where the buyer was registered as an inside director. The case was referred to the National Tax Service over suspected excessive related-party borrowing. In another, a buyer purchased a Seoul apartment owned by the buyer’s mother for 2.34 billion won, while signing a jeonse lease deposit contract for 1.7 billion won with the mother as tenant. Authorities said the deal could amount to a gift due to an underpriced transaction and referred it to the tax agency. Separately, the ministry said it reviewed about 250,000 apartment transactions reported nationwide in the first half of last year and found 306 unregistered deals. It said it notified local governments and requested further investigations and administrative action. The ministry said it is also conducting a planned probe into transaction reports filed in November and December last year for Seoul and Gyeonggi Province, and plans to continue investigations into deals reported this year.* This article has been translated by AI. 2026-04-23 16:52:48

Democratic Party’s Jung Won-oh vows Seoul will match Tokyo within five years, criticizes Oh Se-hoon Democratic Party Seoul mayoral candidate Jung Won-oh said Wednesday he aims to put Seoul “shoulder to shoulder” with Tokyo within five years, while accusing Seoul Mayor Oh Se-hoon of failing on “space, the industrial ecosystem and management philosophy.” Jung made the remarks at a policy event at the National Assembly Members’ Office Building in Seoul’s Yeouido district, titled “Jung Won-oh’s G2 Seoul vision declaration, a major transformation for global city Seoul.” He said he would make Seoul “Asia’s No. 1 economic and cultural city” that “outpaces Tokyo,” adding, “Seoul’s counterpart is New York.” He said Seoul has been stagnant, claiming it has “stagnated for 14 years” and that since the COVID-19 pandemic, the city’s growth rate under Oh has “dragged down the overall average.” Jung attributed the slowdown to what he called structural failures in Oh’s administration, saying Oh has tried to solve city issues only within Seoul’s boundaries rather than the broader capital region, failed to foster new industries such as artificial intelligence and finance, and lacked a management philosophy, allowing stagnation to persist. As an alternative, Jung proposed a “1-2-3-4 strategy”: developing Seoul into Asia’s top economic and cultural capital by 2030; creating two additional urban centers; building three youth startup clusters; and establishing a pipeline for four special zones. He said the city would add Sinchon-Hongdae and Cheongnyangni-Wangsimni as new centers beyond the existing three — central Seoul, Yeouido-Yeongdeungpo and Gangnam. He also proposed youth startup innovation clusters in Sinchon (content), Cheongnyangni (bio and innovation) and Gwanak (deep-tech startups). On the four-zone pipeline, he said Hongneung, Yangjae and Yongsan would be designated as special zones, while Guro would be pursued through a Seoul city ordinance.* This article has been translated by AI. 2026-04-23 16:52:02

Xi Calls Yiwu Growth Model a Benchmark for ‘Correct View of Political Achievements’ Chinese President Xi Jinping has urged officials to treat the development model of Yiwu in Zhejiang province — home to what China calls the world’s largest small-commodities wholesale market — as a benchmark for a “correct view of political achievements.” The concept, which Xi has repeatedly stressed in public, calls for evaluating officials by sustainable, practical results rather than short-term gains or showpiece projects. According to China’s state-run Xinhua News Agency on Wednesday, Xi said in recent instructions that Yiwu’s small-commodities sector “opened up a huge market” and grew into a major industry, forming what he called the “Yiwu development experience.” He praised it as a successful example of developing a county-level economy in line with local conditions. Xi said the “Yiwu development experience” should be summarized more systematically and used effectively in connection with study and education programs aimed at establishing and practicing the “correct view of political achievements.” He said regions should build on their own resource advantages, respect grassroots and public creativity, and pursue reform, innovation and concrete implementation. He also called for sustained effort to find high-quality development paths suited to local conditions, and for better alignment with national development strategies. Xi has shown long-standing interest in Yiwu’s economy, visiting the city 12 times while serving as a party chief in Zhejiang and Shanghai. Xinhua said he personally compiled Yiwu’s development experience at the time and directed that it be studied and promoted among officials, and he has repeatedly cited Yiwu in public remarks. Yiwu, described as the world’s largest export base for small commodities, is often called a barometer of China’s foreign trade and the global economy because orders and production there are seen as reflecting broader trends. The Yiwu market covers 6.4 million square meters — about the size of 900 soccer fields — and contains about 1.26 million shops, with trade involving more than 230 countries and regions. The report said many goods tied to the World Cup, U.S. elections and Christmas are produced and exported from Yiwu. It added that the term “Yiwu index” is used because export orders there are sometimes cited to predict outcomes of major international events, such as U.S. election dynamics and World Cup winners. While Yiwu was held up as a model, the cities of Yichun in Jiangxi province and Nanning in the Guangxi Zhuang autonomous region were cited as examples of a “wrong view of political achievements” for wasteful investment, the report said. China Central Television said Tuesday that Hozon New Energy Automobile, the parent company of Chinese electric vehicle maker Neta, posted losses of 18.3 billion yuan over three years and went bankrupt last year. CCTV said Yichun and Nanning poured tens of billions of yuan into attracting a Neta auto plant, including special policies offering subsidies, but the effort ultimately worsened local finances and led to industrial homogenization. CCTV criticized some local governments for fixating on political achievements, ignoring fiscal realities and relying on borrowing and subsidy competition, while focusing on large short-term projects aimed at visible results.* This article has been translated by AI. 2026-04-23 16:51:17