Trade Chief Yeo Calls for Stronger South Korea-Japan Supply Chain Cooperation As the second Trump administration in the United States strengthens trade policy centered on economic security, a call is growing for South Korea and Japan to respond jointly to the reshaping of supply chains for critical minerals and advanced industries. The proposal urges the two countries to identify joint projects using overseas resource development and multilateral cooperation platforms to secure industrial competitiveness amid global supply chain shifts. The Korea Economic Research Institute, affiliated with the Federation of Korean Industries, said the message was shared at the “Korea-Japan New Economic Cooperation Seminar in an Era of Compound Crises,” held on 22 at the Keidanren Kaikan international conference hall with the Keidanren Institute of Policy and Management. Organizers said the seminar was convened to seek new directions for bilateral economic cooperation amid a rapidly changing global economy. Yeo Han-koo, South Korea’s trade minister, said in a keynote speech on “Directions for Korea-Japan Economic and Trade Cooperation” that the two countries face “shared challenges and uncertainty.” With instability in the Middle East continuing and U.S.-China strategic competition intensifying, he said, flexible solidarity is needed among countries that share values and interests. Yeo said supply chain cooperation should be built on the Korea-Japan Supply Chain Partnership Arrangement, including responses to disruptions and joint exploration and investment in critical minerals. He also emphasized cooperation through multilateral platforms such as the Forum for Geo-strategic Resource Cooperation and the International Energy Agency. South Korea and Japan have focused on strengthening cooperation in advanced industries such as semiconductors and stabilizing supply chains for rare earths and other materials. South Korea is pursuing three supply chain laws and a comprehensive rare earths plan, while Japan is conducting domestic rare earth exploration and development under its economic security law. Yeo said the two countries should strengthen mutual stockpiling and swap cooperation for oil and gas to enable rapid joint responses if a supply crisis occurs. He said South Korea has the world’s largest storage infrastructure, while Japan operates surplus volumes beyond domestic demand, creating potential synergies. In March, on the sidelines of the Indo-Pacific Energy Security Ministerial Meeting, Korea Gas Corp. and Japan’s largest LNG company, JERA, signed an agreement on LNG supply and demand cooperation and pledged to pursue measures including LNG swaps. Ahn Sung-bae, vice president of the Korea Institute for International Economic Policy, said the two countries should expand joint projects in third countries, including mining development and infrastructure investment. He said South Korea and Japan already have experience cooperating on resource development projects involving nickel, copper and iron ore. Ahn added that coordination is important because the multilateral Agreement on Critical Minerals could influence future price mechanisms, investment standards and supply chain rules. Ahn said it is urgent for South Korea and Japan to reduce dependence on specific countries for key minerals such as lithium, graphite and rare earths. He said both are exposed to supply chain risks because dependence is high at the refining and processing stages, and called for diversification centered on strategic industries including critical minerals, semiconductors and energy. Kuno Arata, a professor at Asia University, said the top priority is reducing reliance on specific countries in strategic industries such as semiconductors, batteries and critical minerals, and building a system that allows joint responses in a crisis. He called for more practical cooperation mechanisms, including information sharing, joint procurement and production cooperation. Lee Hyuk, South Korea’s ambassador to Japan, said in congratulatory remarks that the establishment of shuttle diplomacy between the two countries’ leaders is driving deeper cooperation across a wide range of areas, including trade and investment, economic security, advanced technology, supply chain stability and the shaping of international rules. He said the key is ensuring those diplomatic gains translate into economic results felt on the ground. * This article has been translated by AI. 2026-04-22 10:10:00

Korea Highlights FX and Capital Market Reforms at OECD, Aiming to Build 'Korea Premium' The Ministry of Finance and Economy told an OECD meeting it has strengthened access to Korea’s financial markets by improving foreign exchange and capital market rules, highlighting steps it said support market modernization. The ministry said on April 22 it attended the OECD Advisory Task Force on the Codes of Liberalisation, held April 20-21 at the OECD headquarters in Paris, and presented updates on Korea’s FX market operations and efforts to overhaul capital market systems. The OECD advisory meeting is a forum that shares trends related to the codes on capital movement liberalization and, through peer reviews among member countries, discusses the degree of capital market opening and access to financial markets. At the meeting, the ministry outlined recent changes in FX and capital market conditions and the results of institutional reforms. In the FX market, it said it expanded the FX forward position limit for foreign bank subsidiaries to 200% from 75% and rationalized regulations on FX lending, steps aimed at improving market access for foreign investors. In capital markets, it cited reforms including allowing integrated foreign accounts to make it easier for foreign investors to trade domestic stocks, and a temporary suspension of FX stability-related levies. The government also shared plans to advance FX and capital markets with the goal of inclusion in MSCI’s developed market index. It said it aims to improve conditions for foreign participation through measures such as 24-hour FX market operations, better infrastructure for offshore won settlement, streamlined investment procedures and greater regulatory consistency. The ministry said it also shared its experience responding to market stability challenges amid increased exchange-rate volatility tied to a prolonged Middle East situation and growing uncertainty in the global trade environment. It said it found common ground with OECD members on approaches to stabilizing FX and financial markets and agreed on the need for policy coordination. A ministry official said the steps are expected to help ease the “Korea discount” linked to constraints on FX market access and to strengthen the foundation for a “Korea premium” by boosting the structural appeal of Korea’s capital markets.* This article has been translated by AI. 2026-04-22 10:08:53

Samsung Showcases Next-Gen Displays and AI at World IT Show 2026 Samsung Electronics is showcasing a wide range of products using next-generation display, mobile and AI technologies, highlighting its future AI competitiveness. Samsung said it is taking part in the 2026 World IT Show, running April 22-24 at COEX in Seoul, to present innovations spanning displays and mobile devices. At the entrance, Samsung placed its glasses-free 3D display “Spatial Signage” to guide visitors. An “AI Fan Curator” explains each experience zone, with the display delivering a 3D effect without additional equipment. The company said its proprietary “3D Plate” technology adds depth that makes the screen appear to contain another space. Also featured prominently is “Micro RGB,” a next-generation display technology that individually controls ultra-fine RGB elements to render color and contrast more precisely, delivering improved picture quality compared with conventional displays. In mobile, Samsung built camera and AI experience zones around the Galaxy S26 series. Visitors can try the Galaxy S26 Ultra’s 200-megapixel camera and 10x zoom, and test the “Horizon Lock Super Steady” feature for shake-free video. AI demonstrations were expanded. Using “Photo Assist,” visitors can generate images with natural-language prompts and view results on an LED wall in the exhibit area. The “Galaxy AI Live Show” demonstrates key features including photo editing, call screening and privacy tools. Wearables and next-generation platforms were also on display, including a listening zone for the Galaxy Buds4 series and a hands-on area for “Galaxy XR” based on Android XR, offering immersive content experiences. In entertainment, Samsung is running a “cross-platform zone” designed to blur device boundaries. The company set it up so the same game can be played across smartphones, tablets, PCs, TVs and gaming monitors, underscoring its ecosystem strategy. Samsung also introduced the AI portable projector “The Freestyle+” and the TV AI platform “Vision AI Companion.” The Freestyle+ includes automatic screen correction and obstacle-avoidance features to support flexible installation, while Vision AI Companion provides real-time information during viewing. 2026-04-22 10:08:06

LG Showcases Connected AI Home at 2026 World IT Show in Seoul LG Electronics has built an “AI home” as a real-life living space, aiming to show a concrete vision of future housing. The company said the focus goes beyond a technology display, letting visitors experience an AI-based environment designed to operate in everyday life. LG Electronics said it is taking part in the “2026 World IT Show,” running April 22-24 at COEX in Seoul, with an 870-square-meter exhibition hall under the theme “Dear Home.” The space centers on an AI home concept and also highlights subscription services and core component technologies in an integrated layout. At the center is the AI home hub “ThinQ On,” which connects appliances and IoT devices. LG set up three zones — a home office, smart kitchen and OLED theater — to demonstrate how AI responds to different situations. In the home office, LG said the system can recognize a user through a door lock and automatically activate a “return home mode,” adjusting lighting and running an air conditioner and air purifier to optimize temperature, humidity and air quality based on the user’s patterns and settings. In the smart kitchen, LG said AI analyzes ingredients in the refrigerator to recommend menus and automatically controls heat and timing during cooking. The induction cooktop can detect when soup is boiling to help prevent overflow, the company said. In the OLED theater area, LG combined an OLED TV with “LG Sound Suite,” which it said recognizes a user’s position to provide optimized audio. LG also presented a strategy to extend the AI home experience through subscriptions. At a central “subscription plaza,” it introduced services for major appliances such as refrigerators, washing machines and air conditioners, including consumable replacement and internal cleaning by experts. LG described it as a model that goes beyond product sales to ongoing care. The company also highlighted technology it says underpins the AI home. In a “tech lounge,” LG showcased “AI Core Tech,” applying AI to key components including an AI DD motor, a dual inverter heat pump and an inverter compressor. LG said the system analyzes usage patterns and the environment to optimize performance and energy efficiency. LG also displayed technologies including AI air care, ultra-low-power displays and high-performance TV processors, describing them as part of the foundation for its AI home concept. LG said the exhibition is meant to show the AI home as a “connected living environment,” not a single product, and that it plans to expand the business by integrating appliances, services and space-based experiences to manage daily life more broadly. 2026-04-22 10:06:34

Korea FTC Warns of Rising Wedding Service Disputes as Spring Peak Season Begins South Korea’s Fair Trade Commission said on 22 it issued a consumer alert for wedding services as demand peaks during the spring wedding season. The FTC, citing data from the Korea Consumer Agency and others, said consumer dispute-relief requests tied to wedding services totaled 1,076 last year, up 171 cases, or 18.9%, from 905 a year earlier. In April and May last year, the number of cases rose 56.0% from the same period the previous year. Of the complaints received, 88.1% involved disputes over contract cancellations, penalty fees and withdrawal rights. The FTC urged couples to prioritize companies that use the standard contract terms for wedding planning agencies. It said firms using the standard terms clearly disclose base prices by service and the criteria for penalty fees. The commission also recommended comparing prices in advance through the Consumer Agency’s “Cham Price” service, which publishes regional price information for major wedding items such as meal costs, venue rental fees and studio-dress-makeup packages, along with price data for as many as 67 optional items. Looking ahead, the FTC said it will intensively inspect whether wedding service providers are properly implementing detailed service descriptions and price displays at points of sale. Providers that fail to comply with required key information disclosures may face administrative fines of up to 100 million won. The government said it will continue to monitor unfair practices in the wedding services market to prevent consumer harm in advance and support informed choices by providing information on wedding services.* This article has been translated by AI. 2026-04-22 10:05:26

LG AI Research, Nvidia deepen alliance to expand EXAONE ecosystem LG AI Research and Nvidia are strengthening a technology alliance to expand the “K-EXAONE” ecosystem. LG AI Research said executives including Woo-hyung Lim, co-head of LG AI Research, and Jin-sik Lee, head of the EXAONE Lab, met Monday afternoon at the institute’s headquarters in Seoul’s Magok district with Bryan Catanzaro, Nvidia vice president of applied deep learning research, and So-young Jung, head of Nvidia Korea, to discuss cooperation on developing next-generation AI models. The two companies said they will broaden collaboration by combining LG’s AI model, EXAONE, with Nvidia’s Nemotron open ecosystem to jointly develop specialized models for professional fields. LG AI Research said it used Nemotron open datasets during EXAONE’s development to help ensure training data quality. Nvidia supported optimization of model training and improvements in inference performance and efficiency by providing its latest Blackwell graphics processing units, the NeMo Framework AI development platform and TensorRT-LLM software designed to boost inference performance. “As a key partner of LG AI Research, Nvidia has worked together to make EXAONE Korea’s top AI model,” Catanzaro said. “By combining LG’s EXAONE and Nvidia’s Nemotron, we will lead sovereign AI and contribute to expanding the ecosystem,” he said. Lim said Nvidia has been a core technology partner in developing EXAONE. “We will take LG and Nvidia’s cooperation a step further by expanding the research-and-development ecosystem and deliver sovereign AI results that can be felt in industrial settings,” he said. * This article has been translated by AI. 2026-04-22 10:05:17

22 South Korean Public Agencies Rated Below Satisfactory in Customer Satisfaction Survey Korea Electric Power Corp. and SR were among 22 public agencies rated “insufficient” or worse in a customer satisfaction survey for last year. The government said it will require the agencies to analyze the causes of weak service and draw up specific improvement plans. The Finance and Economy Ministry on Tuesday released results of its “2025 public-agency customer satisfaction survey” covering 186 public institutions. The overall composite score was 89.2, up 1.3 points from 87.9 a year earlier. By type, quasi-government agencies scored highest at 91.4, followed by state-run enterprises at 89.2 and other public institutions at 88.1. The government said broader customer-tailored service channels and more active efforts to address complaints helped lift satisfaction overall. The survey also replaced the previous three-tier system (excellent, average, insufficient) with five grades: very excellent, excellent, average, insufficient and very insufficient. Under the new scale, 77 agencies — 41.4% of the total — were rated “excellent” or higher. Twenty-two agencies, or 11.8%, were rated “insufficient” or below, down 12.9 percentage points from the previous year. Among state-run enterprises, Korea Electric Power was rated “insufficient,” while SR was rated “very insufficient.” In the quasi-government category, the Health Insurance Review and Assessment Service, the Korea Sports Promotion Foundation, the Small Enterprise and Market Service, and the Korea Internet & Security Agency were rated “insufficient.” In the other public-institution category, Public Home Shopping, the Korea Legal Aid Corp., the Independence Hall of Korea, the Korea Creative Content Agency, and the Korea Health Personnel Licensing Examination Institute were rated “insufficient” or below. Twelve agencies were rated “very excellent.” In the state-run enterprise group, the Jeju Free International City Development Center, Korea Gas Corp., the Korea Broadcast Advertising Corp., and Korea Water Resources Corp. made the list. In the quasi-government group, the Korea Trade-Investment Promotion Agency, the Korea Institute for Animal Products Quality Evaluation, and the Korea Environment Corp. were included. Forty agencies, including the Korea Land and Geospatial Informatix Corp. (LX), maintained an “excellent” or higher rating for at least two consecutive years. The Korea Trade-Investment Promotion Agency and the Korea Institute for Animal Products Quality Evaluation were selected as excellent agencies for a seventh straight year. The ministry said it also tightened rules to improve fairness and credibility. To better reflect differences in agency operations, it introduced target scores across 13 detailed categories linked to management evaluation standards. For agencies found to have engaged in misconduct during the survey, it said they must adopt measures to prevent recurrence and will be barred for two years from participating in the survey as contractors, among other steps. The results will be reflected in the 2025 management performance evaluation of public agencies and will be disclosed through the public agency management information system, ALIO. Starting next year, the government plans to fully apply a next-generation evaluation index, the “PCSI 3.0 model,” designed for a digital administrative environment.* This article has been translated by AI. 2026-04-22 10:04:52

KDI: Oil Price Cap Cut March Inflation Up to 0.8 Points, Keeping Rise Below 3% The government’s cap on petroleum product prices lowered consumer inflation last month by as much as 0.8 percentage points, helping keep the rate from topping 3%, according to a study by a state-run research institute. The Korea Development Institute also found that fuel-tax cuts contributed to lower prices, but warned that low-income households could feel the impact of high oil prices more acutely and may need stronger support. In an emergency brief released Tuesday by KDI’s Middle East war response task force, the institute estimated the first round of the price cap reduced March consumer inflation by 0.4 to 0.8 percentage points. KDI said the timing of the cap’s impact varied depending on how quickly international crude prices feed into retail gas station prices. Under longer assumed lags, the initial effect was smaller and then grew over time. In its analysis of the fuel-tax cut, KDI said most of the reduction was passed through to lower gasoline prices, reflecting a structural feature in which the gasoline supply curve is close to flat. Based on the fourth week of March, the final week the first cap was applied, KDI estimated the price-cut effect at about 460 won per liter for regular gasoline, 916 won for automotive diesel and 552 won for indoor kerosene. It projected that the fuel-tax cut, expected to be reflected more fully starting in April, would lower inflation by about 0.2 percentage points. KDI said disruptions in the global energy supply chain drove the oil-price surge and could add downside pressure to the broader economy. Given South Korea’s high trade openness and heavy reliance on energy imports, an oil shock can quickly raise firms’ production costs and constrain households’ real income and consumption, potentially slowing growth. Still, KDI said its review of consumption trends in March after the outbreak of the Middle East war found no statistically significant slowdown. Comparing credit card spending in January through March with the same period over the past three years, total card spending remained broadly in line with past levels even after the war began. KDI also detected a slight decline in overall mobility as high oil prices persisted. The total number of mobile movers, a proxy tied to broad economic activity including consumption and production, gradually edged down after the war’s outbreak, showing a modest decrease. As support measures expand to address high oil prices, KDI said policymakers should closely examine energy spending patterns by household type. Using the National Data Policy Committee’s analysis of the past three years of household trend surveys, KDI said the share of energy spending relative to current income for the lowest income quintile (bottom 20%) was more than three times that of the highest quintile, suggesting low-income households may feel oil shocks more strongly. In a summer-only analysis of the relationship between Dubai crude prices and energy spending shares, KDI said the share of housing and utility costs rose significantly more in the first quintile than in the fifth, while the share of transportation fuel costs increased significantly more in the second and third quintiles than in the fifth. The results suggest low-income households are more exposed through cooling and cooking energy, while the second and third quintiles, with higher shares of working households, are more exposed through vehicle fuel costs. KDI said if high oil prices persist, the summer burden of housing and utility costs could rise disproportionately for low-income households, underscoring the need for tailored energy support by household characteristics. Senior Research Fellow Lee Young-wook said, “We need to close blind spots in support for damage from high oil prices and establish an energy support system tailored to household characteristics.” He added that, considering the heavier summer housing and utility burden for low-income households, authorities should review measures such as distributing heat-wave necessities through the Just Dream Center and providing emergency energy support linked to heat-wave alerts.* This article has been translated by AI. 2026-04-22 10:04:25

Lee Jae-myung’s Vietnam trip puts South Korea’s economic diplomacy to the test After completing a trip to India, President Lee Jae-myung moved directly to Vietnam for a state visit, a sequence that underscores a shift in diplomatic focus from security to economic strategy. Competition over emerging markets and supply chains has become central to national planning, and Vietnam is already one of South Korea’s key trading partners and among its largest investment destinations. That is why the visit is being watched as a test of “economic diplomacy.” The question, as always, is how to measure results. Without clear standards, overseas trips risk ending as photo opportunities and announcements. During the Vietnam visit, officials are discussing large-scale projects including nuclear power, infrastructure, bio-related industries, new airports and new-city development. Energy security and cooperation on critical-mineral supply chains are also on the agenda. These issues are closely tied to South Korea’s economic future, but their value diminishes if they do not lead to concrete contracts and investment. At the same time, judging success only by short-term deal counts is also risky. Supply-chain diversification and energy security are structural tasks that are not easily reduced to immediate figures. The trip should be assessed by two measures: in the short term, how quickly memorandums of understanding are converted into actual contracts and investment; and over the medium to long term, how steadily a Vietnam-centered production and supply-chain structure is built. The near-term focus should be on execution, while the longer-term test is whether the underlying structure changes. The article argues that South Korean diplomacy has too often remained “MOU-centered,” with many agreements signed but limited systematic tracking and disclosure of how many became contracts and how fast investment was carried out. It says the government should build a cross-government implementation monitoring system to track the full process after MOUs, with sector-by-sector teams regularly checking project progress and disclosing results transparently. Diplomatic outcomes, it says, are completed through follow-through, not announcements. It also draws a line between the roles of government and business. Measuring sales diplomacy solely by corporate order totals, it says, is a logical leap. The government’s role is to open markets and reduce political and institutional risk, while companies are responsible for turning opportunities into contracts and profits. If those roles are blurred, diplomacy can face excessive pressure for quick wins and companies can become bound by political expectations. Vietnam’s political structure is another variable. The first meeting with the new leadership centered on General Secretary To Lam is described as an important diplomatic moment, but the article cautions against relying on personal ties. In systems with high power concentration, it says, predictability and institutional stability matter. That is why stronger investment guarantees, clearer dispute-resolution procedures and more institutionalized government-to-government cooperation should accompany any push for closer ties. Long-term results, it argues, require cooperation built on systems rather than individuals. The article says South Korea is at a turning point and must prepare for a “post-China” era, with Vietnam and India emerging as key alternatives. It describes India as a place that shows market potential, while Vietnam serves as a hub for production and supply-chain realities. Linking the two, it says, could open a new growth path for the South Korean economy, and that is the strategic meaning of the trip. In the end, it concludes, sales diplomacy is not completed by declarations. In the short term it must be proven in contracts and investment, and in the long term it must lead to changes in supply chains and industrial structure. The government should support that through institutions, and companies should deliver results through execution. The direction, it says, is right; what remains is speed and outcomes.* This article has been translated by AI. 2026-04-22 10:01:15

Harvard Graduate Student Workers Strike for First Time in 4 1/2 Years A union representing Harvard University graduate students who work as teaching fellows, student mentors and research assistants has gone on strike, the Boston Globe reported April 21. The union began the strike at 12 a.m., halting work that includes teaching, grading, mentoring and research, the report said. Members held pickets across campus later in the morning. The union said it has negotiated with the university for 14 months over a new contract without progress. It is seeking a minimum annual salary of $55,000, but the university has offered a 2.5% annual increase, the union said. The union said some members earn about $26,000 a year. It also wants the minimum hourly wage for part-time workers raised to $25 from $21. Some students have argued that doctoral students are paid less than those at the nearby Massachusetts Institute of Technology. Provost John Manning disputed the union’s claims, saying doctoral students receive $425,000 in support over five years, including tuition and insurance, and that the living-stipend portion amounts to more than $50,000 a year. The union is also seeking paid leave for international students to attend immigration-related government appointments and stronger legal support for noncitizens facing risks of detention and deportation. Will Golay, an astronomy doctoral student who attended the protest, said only one of the union’s 23 demands has been settled and the rest remain in dispute. “We are striking not only over the bargaining agenda, but to urge Harvard (administrators) to come to the table and negotiate in good faith,” he said. Union chair Sarah Speller and vice chair Sudipa Saha wrote in an email to the campus April 17 that the decision to strike was not made lightly. “We love teaching and research and that’s why we’re here, but we can’t deliver the world’s best classes when we can’t pay rent or child care, or when we face harassment at work or the risk of detention,” they wrote. About 60% of union members are doctoral students, many of whom receive living stipends because they teach. The union estimates its membership at 4,000, while the university counts 1,300 graduate students who pay union dues. The two sides are also disputing the status of 800 graduate students who receive stipends while doing research instead of teaching. The university argues that research done for one’s degree is not employment. The strike is expected to last at least eight days. The Harvard Crimson reported the next bargaining session is scheduled for April 28. Separately, Boston 25 reported that Harvard’s non-tenure-track faculty union, after 18 months of stalled talks, plans to hold a strike authorization vote. WGBH reported that since forming in 2018, Harvard’s graduate student union has struck twice, in 2019 and 2021. The current walkout is the first in about 4 1/2 years, since October 2021. The union struck for three days in 2021, then returned to work and prepared for a second strike before approving a labor agreement in November 2021, the Harvard Crimson reported.* This article has been translated by AI. 2026-04-22 09:52:32