Korean Shipbuilders Poised to Extend LNG Boom as China’s Delivery Slots Fill Up Korean shipbuilders are expected to keep their “supercycle” going this year as major Chinese yards run out of building capacity through 2029, pushing owners seeking deliveries in that window toward Korea. Demand expectations are also rising as large LNG projects in the United States and Qatar move into full swing. Industry officials said Qatar plans to double its LNG production capacity by 2030. The International Energy Agency also forecast that global LNG supply will rise this year at the fastest pace since 2019, led by the United States. To meet the increase in supply, the industry expects additional orders for about 70 LNG carriers. Chinese shipyards are winning LNG carrier orders at prices about $30 million lower than Korean rivals. Still, owners have continued to choose Korean yards, citing confidence in technology and on-time delivery. With Chinese yards’ 2029-2030 delivery slots effectively sold out, analysts said owners wanting ships delivered in that period will have fewer options, narrowing choices to Korea and strengthening Korean builders’ pricing power. “In 2025, shipowners were watching geopolitical developments, so orders leaned more toward container ships than LNG carriers,” an industry official said. “This year, LNG development projects in various countries are expected to move forward in earnest, so expectations for more LNG carrier orders are high.” Clarksons Research data showed global ship orders in January totaled 5.61 million CGT, or 158 vessels, up 27% from 4.43 million CGT a year earlier. LNG carrier prices were about $248 million, and Korean shipbuilders’ market share was about 40%. Hanwha Ocean said in a conference call this month that it expects to achieve revenue on par with last year and that overall market conditions should improve as U.S. LNG export projects accelerate. Samsung Heavy Industries said in a conference call last month that Chinese yards have allocated Qatar-related work through 2031 deliveries, consuming available slots, and stressed that Korea could benefit from upcoming U.S. orders. HD Korea Shipbuilding & Offshore Engineering also projected Korean builders would maintain market share, saying Chinese-built LNG carriers still lag Korea in quality and technology. Hanwha Ocean posted 12.6884 trillion won in revenue last year, up 18% from a year earlier, with balanced performance in its commercial and special-purpose ship businesses. HD Korea Shipbuilding & Offshore Engineering said revenue rose 17.2% to 29.9332 trillion won, citing a higher share of high-priced ships, improved productivity and increased output. Samsung Heavy Industries also exceeded its revenue guidance and returned to the “10 trillion won club” with 10.65 trillion won in revenue.* This article has been translated by AI. 2026-02-20 17:03:27

KAIST confers honorary doctorate on Formosa Group Chair Sandy Wang SEOUL, February 20 (AJP) - The Korea Advanced Institute of Science and Technology (KAIST) announced on February 20 that it has awarded an honorary doctorate in business administration to Sandy Wang, Standing Member of the Formosa Group Executive Management Committee and Chair of Formosa Bio. The ceremony took place during the university's 2026 commencement exercises. Wang was recognized for her role in leading the strategic growth of Formosa Group by prioritizing sustainability and corporate social responsibility. Following the business philosophy of the late founder Wang Yung-ching, she has steered the conglomerate beyond its traditional petrochemical manufacturing roots into sectors such as biotechnology, clean energy, energy storage systems, and resource circulation. According to KAIST, Wang has successfully implemented a corporate model where industrial growth, scientific advancement, and talent development are closely linked. The university highlighted her efforts in building a long-term biomedical research partnership with KAIST, which included expanding research infrastructure and creating a platform for international joint projects. A key result of this partnership was the establishment of the KAIST-Formosa Biomedical Research Center. This center serves as a hub for multidisciplinary research between Formosa Group's medical and academic institutions and the KAIST College of Life Science and Bioengineering. Wang has also been credited with institutionalizing a system that reinvests corporate earnings back into society through consistent funding for research and education. University officials noted that these initiatives have helped create a cycle where scientific breakthroughs are effectively funneled into industrial and social applications. In her remarks, Wang stated that she was honored to receive the degree and felt a strong connection to the university’s mission of contributing to a sustainable future through research. She expressed her hope that the students at KAIST would use their scientific training to lead global development and pledged to continue her support for long-term investments in talent and technology. KAIST President Lee Kwang-hyung described Wang as a leader who has put scientific strategy at the center of responsible management. He added that the university valued her practical support for international cooperation and research infrastructure. 2026-02-20 16:59:09

Actress Jo Bo-ah Gives Birth to a Son, Agency Says Actress Jo Bo-ah has given birth to a son. Her agency, Billions, said Jo gave birth on the 20th. "Both Jo Bo-ah and the baby are healthy and are resting in the love and congratulations of their family," the agency said. It added, "We sincerely thank everyone who has always shown warm interest and congratulations, and we ask for your continued congratulations and support for Jo Bo-ah as she welcomes this precious new life." Jo married a non-celebrity man in October 2024. * This article has been translated by AI. 2026-02-20 16:45:15

Nordic Combined Faces Possible Olympic Exit After 2026 Milan-Cortina Games Nordic combined, the only Olympic sport across both the Summer and Winter Games that still does not allow women to compete, is at risk of disappearing from the Olympics after this edition of the Games. On 20 (Korea time), the Nordic combined schedule at the 2026 Milan-Cortina d’Ampezzo Winter Olympics concluded, raising the possibility that this could be the sport’s last Olympic appearance. Nordic combined determines standings first through ski jumping, then decides the winners in a cross-country race. It is considered one of the most demanding winter sports, requiring speed, endurance, technique and strategy. The event has been part of the Olympics since the inaugural 1924 Games, but unlike the world championships or World Cup circuit, women are still not permitted to compete at the Olympics. According to The Associated Press, the International Olympic Committee is reviewing whether to drop Nordic combined, citing limited popularity and a medal distribution concentrated in a few countries. That imbalance was again evident at these Games, where Norway won all three gold medals. The result added momentum to calls for change. Athletes voiced concern as talk of removal grew. Jens Luraas Oftebro of Norway, who helped his country sweep the three golds, said, “I hope the competition at these Games brought enjoyment,” adding, “I hope the IOC will recognize the value of the sport.” Czech athlete Jan Vytrval said, “Nordic combined deserves far more popularity considering how entertaining it is to watch and the athletes’ incredible skills,” and called it “far too valuable to be deleted from the Olympics.” The IOC is also reported to be discussing whether to keep snowboard parallel giant slalom, the event in which Kim Sang-gyeom won South Korea’s first medal of these Games. If one of the two sports is removed, its slot could be filled by a new event such as polo or croquet.* This article has been translated by AI. 2026-02-20 16:33:00

Porsche Korea Marks 10th Year of Do Dream Campaign, Donates 11.24 Billion Won Porsche Korea said Thursday it will strengthen its social contribution efforts as its “Porsche Do Dream” campaign enters its 10th year, aiming to spread the brand’s values more broadly across local communities. Launched in 2017, “Porsche Do Dream” is built around the brand identity of “dreams” and has introduced new programs each year. To date, Porsche Korea has donated a total of 11.24 billion won, supporting the dreams of 37,919 people, 139 organizations and 39 schools. This year, the company said it will reorganize its programs in line with its “Partner to Society” direction, focusing on creating social value and moving beyond one-time donations through more systematic management and support. Total donations this year will be 1.8 billion won. Porsche Korea also plans to deepen its work in education, culture and the environment while launching new programs designed to strengthen community connections. With ChildFund Korea, it will expand its indoor gym construction project, “Dream Playground,” which has run for about a decade, into “Dream Circuit,” an eco-friendly sports ground intended for broader public use. Set to debut in May, “Dream Circuit” will be created as a Porsche concept garden using upcycled materials and other eco-friendly elements, offering children a space to play and be physically active in nature. In culture, Porsche Korea will begin a new partnership with the Korea Heritage Service Foundation to present a special exhibition in September at Changdeokgung Palace, a UNESCO World Heritage site, highlighting Korea’s intangible heritage and aesthetics where tradition and modernity meet. Its garden program aimed at ecological conservation and carbon reduction will also expand nationwide. “Believe in Dream - Park,” run with Seoul Green Trust, will broaden from Seoul to the greater capital region. This year, it will build a garden at Yeongheung Forest Park in Yeongtong-dong, Suwon, Gyeonggi Province, designed to strengthen habitat functions for key protected species. The company said it will build a database on species in parks and green spaces through ecological monitoring involving citizens and experts, while running public-private cooperation and online and offline campaigns to develop a citizen-participation green infrastructure model. It will continue supporting an urban beekeeping project. Porsche Korea said it will also expand support in arts, sports and job training to help talented children from vulnerable backgrounds and young people pursue their dreams and become self-reliant. “Dream Up,” run with ChildFund Korea since 2018, supports children with talent in arts and sports and will be strengthened this year with education infrastructure to deepen their expertise. With the Seoul Foundation for Arts and Culture, Porsche Korea will continue its “Porsche Frontier” program, supporting the discovery and performance of outstanding works through the Seoul Arts Awards, a prize program for fine arts. To help young people entering society, it will work with the social cooperative Dream Sharing to provide professional training for golf caddies and connect graduates to jobs to support practical career planning. Matthias Busse, CEO of Porsche Korea, said, “As ‘Porsche Do Dream’ marks its 10th anniversary next year, it has steadily laid the groundwork to support dreams across Korean society and expand them into social value,” adding, “We will continue to build a sustainable ecosystem that spreads the brand’s core value of ‘dreams.’”* This article has been translated by AI. 2026-02-20 16:30:18

New firefighters ready to serve communities in Incheon SEOUL, February 20 (AJP) - Some 116 new firefighters graduated from the Incheon Fire Academy in Ganghwa, Incheon on Friday. The new graduates, the academy's 27th class, pledged to protect the lives and property of citizens. Over 24 weeks since enrolling in September last year, the graduates completed rigorous training as part of the academy's mission to nurture elite firefighting personnel ready for the field. They will be assigned to about a dozen fire stations across Incheon, taking on firefighting, rescue and emergency duties for citizens' safety. 2026-02-20 16:11:53

Antitrust watchdog moves to penalize seven flour millers over price-fixing cartel SEOUL, Feb 20 (AJP) - South Korea’s competition authority has initiated formal sanctioning procedures against seven major flour producers and distributors, including industry giants CJ CheilJedang and Daehan Flour Mills, for alleged price-fixing. The Korea Fair Trade Commission (KFTC) announced Friday that it has dispatched examination reports—equivalent to a criminal indictment—to seven companies: CJ CheilJedang, Daeseon Flour Mills, Daehan Flour Mills, Sajo Dongawone, Samyang Corp., Samhwa Flour Mills, and Hantop. The move marks the start of a formal deliberation process by the antitrust watchdog to determine the illegality of their actions and subsequent penalties. Under South Korea’s legal framework, the KFTC serves as a quasi-judicial body, with its final decisions functioning as a first-instance court ruling. The latest move is part of a broader government crackdown on cartels that threaten consumer price stability. Since launching its investigation last October, the regulator has concluded that these seven firms, which command an 88 percent share of the domestic business-to-business (B2B) flour market, colluded to fix prices and allocate sales volumes over a period of six years. The commission estimates the relevant revenue affected by the cartel to reach approximately 5.8 trillion won ($4.1 billion). Consequently, the watchdog has proposed corrective orders and significant administrative fines for violating the Fair Trade Act. "Under relevant laws, the commission can impose fines of up to 20 percent of the revenue affected by the collusion," said Yoo Seong-wook, Director General for Investigation Coordination at the KFTC. Yoo stressed that the agency will "strive to substantially block any incentive for cartels through aggressive law enforcement against practices that threaten the people's livelihood." This follows a 2006 case where the authority penalized millers for similar charges. Notably, the current report includes a recommendation for a "price reset order," forcing companies to re-evaluate and lower their prices to competitive levels. "While most cartel cases end with a cease-and-desist order and fines, we determined that an effective restoration of competition is necessary for items so closely tied to daily life," Yoo explained, noting that the price reset order was included as a measure to proactively restore market competition. The KFTC’s decision to publicly announce the dispatch of the report is considered unusual. Historically, the antitrust regulator has maintained a "Neither Confirm Nor Deny" (NCND) stance before final deliberations are concluded. "We considered the need to strengthen the public's right to know and enhance procedural transparency," Yoo said. While the agency plans to disclose information within a scope that does not infringe on the defendants' right to defense, it will follow global trends, such as those in the European Union, where reports are made public before final decisions. The seven firms have eight weeks to submit written opinions or request access to evidence. Given the direct impact on consumer prices, the competition watchdog plans to hold its final plenary session as soon as the defense procedures are completed. The crackdown comes as the government intensifies its focus on essential goods. On Feb. 13, a "Special Task Force for Consumer Price Management" was launched to monitor collusion in markets for flour, sugar, and other necessities. During a meeting on Thursday, President Lee Jae Myung specifically highlighted sugar, flour, meat, and school uniforms as key items requiring scrutiny. 2026-02-20 16:09:37

Parata Air Adopts AMOS Maintenance and Engineering Management System Parata Air has adopted AMOS (Aircraft Maintenance and Operational Support), a maintenance and engineering management system, to strengthen its maintenance and safety operations. The airline said Thursday it selected AMOS, developed by Swiss aviation software company Swiss-AS, as the core platform for its aircraft maintenance and engineering system. The system supports maintenance planning and execution as well as airworthiness and regulatory compliance management, integrating key functions across maintenance operations. It is widely used by major airlines worldwide. Parata Air said adopting the system from the outset improved transparency in maintenance records and helped establish standardized maintenance processes aligned with international standards. The airline said it was able to stabilize the rollout in a relatively short period because many staff in its maintenance organization already had experience operating AMOS, allowing it to focus the initial setup on core functions needed for flight operations. Parata Air plans to expand its use of AMOS in phases. After initially focusing on routine maintenance operations and regulatory requirements, it aims to link the system to maintenance financial management to build a more advanced, integrated aviation IT environment. “An airline’s safety and trust start with its maintenance system,” a Parata Air official said. “By adopting a digital maintenance system proven by global airlines, we have laid the foundation for stable operations and sustainable growth.”* This article has been translated by AI. 2026-02-20 15:49:06

LG Chem, GC Biopharma, Cho-A Pharma and Severance Hospital report trial, webinar, product and surgery milestones LG Chem: IDMC recommends continuing Phase 3 trial of head and neck cancer drug LG Chem said Feb. 20 that an independent data monitoring committee (IDMC) recommended continuing the Phase 3 clinical trial of ficlatuzumab, a head and neck cancer drug being developed by its U.S. subsidiary, AVEO. Based on interim results, the IDMC recommended selecting the higher of two tested doses — 20 mg/kg — as the final dose and proceeding with the study. Ficlatuzumab is a monoclonal antibody targeted cancer therapy designed to inhibit the action of hepatocyte growth factor (HGF), which is involved in tumor growth and metastasis. The trial enrolls patients with HPV-negative head and neck cancer who previously received platinum-based chemotherapy and immune checkpoint inhibitors either sequentially as monotherapy or in combination. It compares ficlatuzumab plus cetuximab with placebo plus cetuximab. LG Chem plans to recruit 410 to 500 patients and assess overall survival (OS), defined as the time from treatment start to death. GC Biopharma to hold relay webinar series for clinicians GC Biopharma said Feb. 20 it will run a relay webinar series from Feb. 25 through April 29 on its drug information site, GC Connect, under the theme “Practical clinical solutions and the latest insights on five key endocrine diseases.” The company will invite 10 endocrinologists in private practice to deliver lectures tailored to primary care settings. The first session will cover the latest diabetes updates based on the 2025 Korean Diabetes Association (KDA) clinical practice guidelines and the American Diabetes Association (ADA) guidance. Subsequent webinars will address thyroid disease management, obesity drug treatment strategies, bone metabolism (osteoporosis) and metabolic syndrome (CKM syndrome), summarizing academic information on five major endocrine conditions. GC Biopharma said the series is designed to offer practical clinical approaches to real-world challenges clinicians face in patient care by featuring speakers familiar with day-to-day practice settings. Cho-A Pharma launches Hepatos Syrup using patented Sepiji ampoule Cho-A Pharma said Feb. 20 it launched Hepatos Syrup, packaged with its patented Cho-A Sepiji ampoule container. Hepatos Syrup is an over-the-counter medicine that the company said helps protect liver cells and improve liver function through the combined effects of three ingredients: arginine, betaine and citric acid. As a liquid, it is designed for rapid absorption and quick effects related to liver energy synthesis and detoxification, the company said. The main ingredient, arginine, is a precursor of urea and is essential for neutralizing toxic ammonia. Betaine, an oxidized derivative of choline, lowers cholesterol and increases bile secretion during choline metabolism, supporting fat metabolism and digestion, the company said. Citric acid is involved in amino acid and carbohydrate and lipid metabolism and promotes energy (ATP) production, which the company said can help relieve fatigue and improve endurance. Cho-A said the Sepiji ampoule uses a material certified by the U.S. Pharmacopeia as the highest safety grade, USP Plastic Class VI. The company said it has registered patents in 30 countries including South Korea, the United States, Europe, Japan and Vietnam, and received certification from the nationally accredited testing institution KOTITI that no endocrine-disrupting chemicals were detected. Severance Hospital reaches 500 robot-assisted brain surgeries Severance Hospital said Feb. 20 it recently reached 500 cases of robot-assisted precision brain surgery, 5 years and 3 months after its first procedure in 2020. The technique is used for precision procedures such as inserting electrodes into specific brain locations, collecting tissue samples and placing catheters. After a target is set on preoperative imaging, a robotic arm automatically guides the coordinates so surgeons can follow the planned path. The hospital said it uses robot-assisted brain surgery to treat a range of brain disorders. One example is inserting stereoelectroencephalography electrodes in patients with drug-resistant epilepsy to pinpoint where seizures begin. Placing one electrode typically takes 15 to 20 minutes by hand, but can be reduced to 4 to 5 minutes with a robot, the hospital said. With an average of about 15 electrodes inserted per patient, the time savings can be substantial. Severance Hospital said its 500 cases include 327 brain tissue biopsies, 107 stereoelectroencephalography electrode insertions, 57 deep brain stimulation procedures and nine catheter insertions.* This article has been translated by AI. 2026-02-20 15:48:00

Rosé and Bruno Mars win IFPI Global Single Award for APT. SEOUL, February 20 (AJP) - A collaborative track between South Korean singer Rosé and American artist Bruno Mars has become the first K-pop song to top the International Federation of the Phonographic Industry Global Single Chart. The rock-pop single "APT." led the worldwide sales and streaming rankings for 2025. According to the International Federation of the Phonographic Industry (IFPI) on February 19, "APT." secured the top position on the annual chart, which calculates global performance by converting consumption data from streaming and download platforms into unit totals. The IFPI stated that the track secured the number one spot during a year defined by global hits with significant longevity. The organization noted that the achievement marked several milestones, as it is the first time an artist from outside North America or Europe has topped the chart. It also represents the first time a winning single has featured non-English lyrics. South Korean artists have previously appeared on the ranking, beginning with Psy for "Gangnam Style" in 2012. Members of BTS also reached the chart in 2020 and 2021, while Jungkook appeared on the list in 2024. Rosé is the first South Korean artist to reach the number one position. Bruno Mars returned to the top of the IFPI chart 14 years after his 2011 win for "Just The Way You Are." The singer also held the fourth position on the 2025 chart for "Die With A Smile," a duet with Lady Gaga. Other notable entries on the 2025 list included two songs from the Netflix animated film "K-Pop Demon Hunters." The original soundtrack "Golden" placed second, while "Soda Pop" ranked 13th. The chart success comes as BLACKPINK prepares to release a third mini album titled "DEADLINE" on February 27. The project is the first group release in approximately four years since the second full-length album "BORN PINK" debuted in 2022. The upcoming five-track album features the title track "GO" and the pre-released single "JUMP." The remaining tracks are titled "Me and My," "Champion," and "Fxxxboy." 2026-02-20 15:40:43