SK ecoplant to buy back 6.5 trillion won in shares to redeem convertible preferred stock SK ecoplant said April 28 it held a board meeting at its headquarters in Susong-dong, Jongno-gu, Seoul, and approved calling an extraordinary shareholders meeting to proceed with a share buyback. The buyback will cover about 1.33 million shares of convertible preferred stock, or CPS, issued in 2022. Of that, SK will purchase part of the CPS held by financial investors, valued at 200 billion won. SK ecoplant will acquire the remaining portion, valued at 650 billion won. The company said it is pursuing redemption of the CPS after weighing factors including easing future financial burdens such as dividends and protecting shareholder interests. It said the redemption will be funded with its own cash and other internal resources, without separate external financing. SK ecoplant has been accelerating a rebalancing effort to reshape its business around semiconductor and artificial intelligence infrastructure. The company said it is building semiconductor fabrication facilities and AI data centers while securing a value chain spanning key semiconductor materials, industrial gases, semiconductor module products and recycling. It said AI infrastructure-related businesses accounted for 67% of its revenue last year. An SK ecoplant official said the company will continue to raise corporate value by strengthening profitability and financial soundness based on its differentiated competitiveness in semiconductors and AI infrastructure. * This article has been translated by AI. 2026-04-28 17:53:04

KOSPI extends rally, hitting new milestone SEOUL, April 28 (AJP) - South Korea's benchmark KOSPI closed Tuesday at a new high after testing a new milestone as the sole winner in Asia. The main bourse added 0.4 percent to finish at 6,641.02 points after climbing as high as 6,712.73, extending its winning streak to a seventh consecutive session. Institutional investors purchased 351.1 billion Korean won (US$270 million) worth of shares, while foreign and retail investors sold 184.5 billion won and 130.3 billion won, respectively, indicating that the rally was increasingly driven by domestic institutional flows as other investors took profits. The rally has been underpinned by sustained global inflows into artificial intelligence (AI)-linked semiconductor stocks, with the country's market capitalization surging more than 45 percent this year to around $4.04 trillion, overtaking the United Kingdom and highlighting its growing prominence in the global AI investment cycle. The gains reflect South Korea's outsized exposure to AI-linked sectors, amplifying its outperformance relative to regional peers. Among major stocks, SK hynix rose 0.6 percent to 1,300,000 won, while Hyundai Motor jumped 5.9 percent to 555,000 won, reflecting a broadening of the AI-driven rally beyond semiconductors as investor interest extended to automakers amid growing expectations for partnerships in autonomous driving and robotics. Samsung Electronics, however, fell 1.1 percent to 222,000 won, signaling profit-taking in index heavyweights following recent gains. In contrast, the junior KOSDAQ fell 0.9 percent to close at 1,215.6, reversing earlier strength as foreign and institutional investors offloaded a combined 786.8 billion won worth of shares. Retail investors bought a net 796.0 billion won, helping to limit losses. The divergence between the two major indexes highlights a shift toward large-cap, AI-linked stocks at the expense of higher-risk stocks. Biotech and high-growth stocks led declines, reflecting continued pressure on high-valuation segments, even as some battery-related shares showed resilience. The South Korean won edged down to 1,474.0 per dollar amid lingering global uncertainty. Elsewhere in Asia, Japan's Nikkei 225 fell 1.1 percent to 59,917.5 after the Bank of Japan held its policy rate at 0.75 percent while signaling the possibility of further tightening. China's Shanghai Composite slipped 0.2 percent and Hong Kong's Hang Seng Index dropped 0.9 percent, as elevated energy prices and geopolitical risks weighed on regional sentiment. Meanwhile, oil prices extended gains, with Brent crude hovering above $110 per barrel amid prolonged disruptions in the Strait of Hormuz. 2026-04-28 17:52:56

Retailers, Travel Firms Target May Holiday Surge as Japan, China Vacations Overlap From late April through early May, South Korea’s retail and travel industries are gearing up for a three-nation holiday rush as extended breaks in Korea, China and Japan overlap. Japan’s Golden Week (April 29-May 6) and the Labor Day holidays in China and Taiwan (May 1-5) begin at the same time this week, prompting companies to step up efforts to attract visitors to Korea. The Ministry of Culture, Sports and Tourism and the Korea Tourism Organization said April 28 they expect 80,000 to 90,000 Japanese tourists and 100,000 to 110,000 Chinese tourists to visit Korea during the holiday period. In the first quarter, arrivals from Japan and China totaled 940,000 and 1.45 million, respectively, the highest levels on record. Korea is also expected to see stronger domestic travel and shopping demand, with a string of holidays running from Labor Day on May 1 — designated a statutory holiday for the first time this year — through Children’s Day on May 5. The influx of Japanese and Chinese visitors is also being watched for its potential to lift second-quarter retail conditions. The Korea Chamber of Commerce and Industry previously forecast a subdued outlook, with its 2026 second-quarter Retail Business Survey Index at 80, little changed from 79 in the prior quarter, citing Middle East-driven geopolitical risks and prolonged high inflation, a weak won and high interest rates as constraints on domestic demand. Industry expectations have picked up, however, as the Korea-China-Japan holiday overlap coincides with the phased rollout of the government’s “high oil price damage relief payments,” which could add to consumer spending power. Department stores and duty-free shops are rolling out promotions aimed at foreign shoppers, including discount coupons and point rewards. Big-box retailers are expanding K-food promotions — a staple on many visitors’ shopping lists — and adding more convenient payment benefits to encourage spending. Restaurants, convenience stores and other offline retailers are also preparing broad discount events and securing inventory, betting that relief-payment spending will translate into stronger purchasing power in neighborhood commercial districts. “By capturing both foreign tourist demand and domestic demand boosted by the oil-price relief payments, the industry could move beyond simply protecting second-quarter results and deliver a meaningful rebound,” an industry official said.* This article has been translated by AI. 2026-04-28 17:52:16

K-pop girl band Le Sserafim releases world tour schedule as group targets European debut SEOUL, April 28 (AJP) - K-pop girl band Le Sserafim will perform 32 shows across 23 cities starting this July, including the first solo European concerts for the K-pop group, the five-member group's agency Source Music said Tuesday. The tour begins in the western port city of Incheon on July 11 and travels through Japan and the United States before reaching five cities in Europe this October. The expansion into Europe follows a year of commercial growth where the group was ranked among the top 10 highest-grossing K-pop tours. By booking shows in London, Paris, and Berlin, members Kim Chae-won, Sakura, Huh Yun-jin, Kazuha, and Hong Eun-chae are moving into new markets to build a larger international audience. The tour is named after the group’s second studio album, "PUREFLOW" pt.1, which is set for release on May 22. The band's agency said the name is an anagram for "POWERFUL." The group released a lead single titled "CELEBRATION" on April 24 to begin the new album cycle. The North American leg includes nine cities, such as Los Angeles, Chicago, and Newark. These dates follow a 2025 tour where the group became the first K-pop girl group to appear on the NBC program "America's Got Talent." That tour included 31 shows and a performance at the Tokyo Dome. Industry data from last year showed the group earned more from ticket sales than any other K-pop girl group during the 12 months ending in September 2025. The new schedule maintains dates in traditional markets like Taipei and Singapore while adding the European leg. Full details on venues and ticket sales are being posted to the group’s official fan platform. The tour is scheduled to conclude in November with a series of performances across Southeast Asia. 2026-04-28 17:51:46

Korean Food and Dining Brands Target May Holiday Demand With Value Deals and Takeout With an early May stretch of holidays approaching and the timing of government payments to offset high fuel prices, South Korean food and dining companies are stepping up spring promotions in hopes of a pickup in spending. Companies expect more outings during the holidays and are emphasizing convenient, portable options for outdoor activities. Value-focused offers tied to May’s Family Month are also expected to influence consumer demand. Industry officials said April 28 that as applications opened for the high-fuel-price relief payments, franchise restaurants began posting signs at entrances saying the payments can be used there, aiming to draw customers. Headquarters are also promoting the option through company apps, websites and distributed marketing materials, reflecting expectations that the funds, like last year’s consumer coupons, will flow quickly into restaurants where spending is immediate. Brands are also pushing to capture customers outside stores as spring and the holiday period bring more travelers. Outback Steakhouse rolled out three “Lunch Box” sets nationwide, targeting group meals for corporate events and picnics. It also added an app-based advance reservation service so customers can pick up orders at a preferred time and location. Delivery-heavy brands, including chicken chains, are moving to lock in demand with discount promotions. KFC is running a value-menu “KFC Snack” campaign to attract grab-and-go snack purchases. Hyundai Green Food introduced “Greeting” ready-to-cook items designed for use at camping sites, positioning them for outdoor dining. Competition is also expected to intensify in the cake market, as May includes multiple gift-giving occasions. Paris Baguette introduced a “Blue Rose Cake,” symbolizing “miracles” and “hope,” along with an object-style gift item designed not to wither, and is offering a 10,000-won set discount for app preorders. Tous les Jours is selling flower-themed cakes such as “Flower Montmartre” and character cakes, while offering up to 30% off for app reservations and running a 100% payback event to boost digital orders. Twosome Place launched a “Flower Yogurt Cake” shaped like a red rose and is providing discount coupons to customers who preorder through its app. Discount campaigns aimed at gift demand are also heating up. Jung Kwan Jang is offering up to 15% off popular red ginseng products through May 16 and providing point rewards based on purchase amounts as part of a Family Month promotion. hy is running a health-food promotion that offers up to 43% off, reward points and free shipping when customers use its gifting function. The Hanwoo Self-Sufficiency Fund Management Committee is holding an “online hanwoo market” through the 30th, selling Grade 1 sirloin at a special price of 7,120 won per 100 grams and offering discounted prices on other cuts. “With holidays and the relief payments expected to help restore consumer sentiment, we will raise customer satisfaction with differentiated products and services that reflect trends,” a distribution industry official said.* This article has been translated by AI. 2026-04-28 17:51:24

Hanmi Pharmaceutical Unveils Next-Generation Cancer Drug Pipeline at AACR 2026 Hanmi Pharmaceutical said it has unveiled a cancer drug pipeline built on a range of next-generation modalities, underscoring its growing body of oncology research. The company said on April 28 that it presented nine research findings covering eight new drug candidates at the American Association for Cancer Research meeting, AACR 2026, held April 17-22 (local time) in San Diego. Hanmi noted that recent technology-licensing deals by global drugmakers show antibody-drug conjugates and bispecific antibodies emerging as key investment targets. Hanmi said its AACR presentations were organized around three areas: targeted therapies that selectively modulate proteins highly expressed in cancer cells; targeted therapies based on next-generation modalities; and immuno-oncology candidates designed to activate immune cells and trigger antitumor responses. In targeted oncology, the company disclosed an EZH1/2 dual inhibitor (HM97662), a selective HER2 inhibitor (HM100714) and an inhibitor of SOS1-KRAS interaction (HM101207). Hanmi also highlighted an EP300 selective degrader developed using its targeted protein degradation platform. The company said the candidate showed lower toxicity and stronger anticancer efficacy than existing inhibitors, suggesting a potential new treatment approach. In immuno-oncology, Hanmi presented research on STING mRNA and p53 mRNA cancer drug candidates, as well as multispecific antibody-based programs led by Beijing Hanmi Pharmaceutical: a 4-1BB x PD-L1 bispecific antibody (BH3120) and a B7H3 x PD-L1 bispecific antibody-drug conjugate (BH4601). Hanmi said animal models showed tumor-growth suppression after intravenous and intramuscular administration. It also reported increased immune cells and anticancer activity in so-called “immune-cold” tumors that do not respond to existing immunotherapies. The company said it confirmed a dual mechanism that both activates immunity and suppresses cancer-cell proliferation while maintaining survival of normal cells. Hanmi said BH3120 uses its “Pentambody” bispecific antibody platform, enabling one antibody to bind two different targets and combine targeted anticancer treatment with immune-cell activation. The company said BH4601 is a bispecific antibody-drug conjugate that targets B7H3 and PD-L1 at the same time, and it presented a mechanism aimed at reducing resistance and activating immunity across a range of solid tumors. Choi In-young, head of Hanmi Pharmaceutical’s R&D Center, said the company’s next-generation modality-focused oncology pipeline demonstrated its research and development competitiveness. “We will continue to expand future growth engines through technology convergence and R&D,” Choi said.* This article has been translated by AI. 2026-04-28 17:46:44

Appeals court sentences Kim Keon Hee to 4 years in prison in stock manipulation, graft case Kim Keon Hee, who was indicted over alleged Deutsche Motors stock manipulation and receiving valuables tied to the Unification Church, was sentenced on appeal to four years in prison. The Seoul High Court’s Criminal Division 15-2 on Monday sentenced Kim, who was indicted in custody, to four years in prison and a 50 million won fine for violations of the Capital Markets Act and the Political Funds Act, and for bribery for influence-peddling under the Act on the Aggravated Punishment of Specific Crimes. The court also ordered the forfeiture of one Graff necklace and about 20.94 million won in additional collection. The panel said the crimes were serious, citing damage to “fairness in the stock market and investor trust.” Unlike the first trial, the court found part of the Deutsche Motors stock manipulation charge proven. It said Kim provided a securities account containing 2 billion won and entrusted trading, and that she sold 180,000 shares at a specific time and price, recognizing her participation in price manipulation. On the Unification Church-related allegations, the court found the influence-peddling charge fully proven, going beyond the first trial’s partial guilty finding. It said Kim accepted money and valuables while recognizing an implicit request. However, as in the first trial, the court acquitted Kim of allegations tied to Myung Tae-kyun involving free polling services. The panel said the polls were provided to multiple people, making it difficult to view them as a property benefit. Kim’s lawyers said after the ruling that they intend to appeal to the Supreme Court. * This article has been translated by AI. 2026-04-28 17:45:58

Majesty Golf Signs Veteran Kim Young, Expands Customer Events in May Majesty Golf has signed veteran Kim Young to its Team Majesty roster and plans to step up customer outreach in May, which is widely observed in South Korea as Family Month. Kim has one win on the LPGA Tour, five on the KLPGA Tour and one on the JLPGA Tour, the company said. Majesty Golf said the partnership was built in part on Kim’s prior use of Majesty clubs when she won on the Japanese tour. With Kim’s addition, Majesty Golf said it will strengthen marketing around its recently released Prestigio 14 line. The company said it will move beyond product promotion by expanding opportunities for customers to experience the brand through club demo sessions and lesson events in which Kim will participate directly. Customer-participation programs are also planned throughout May across major channels including Shinsegae, Hyundai and Lotte department stores, as well as Golfzon Market and AK Golf, the company said. A Majesty Golf official said the company has continued activities to broaden customer contact since the launch of Prestigio 14 and will expand chances in May for customers to experience both a professional golfer and the brand. The official added that Majesty Golf will continue brand activities with Kim to communicate more closely with customers.* This article has been translated by AI. 2026-04-28 17:45:15

South Korean Lawmakers Weigh Token Securities as Tool to Share Real Estate Gains, Curb Jeonse Fraud Tokenized securities, known as STOs, could become a new financial tool to share profits from real estate development with the public and help reduce damage from jeonse rental fraud, speakers said at a National Assembly-linked forum as South Korea prepares to bring STOs into the regulated system. The Democratic Party’s Digital Assets Task Force held a discussion on April 28 at the Korea Financial Investment Association’s training center in Seoul’s Yeouido district, focusing on real estate finance models using STOs and possible responses to jeonse fraud. Participants included In Ho, a professor at Korea University’s Blockchain Research Institute (KDAA); Hong Seung-pil, a professor at Hanshin University; Ahn Chang-won, a program manager at the Institute of Information & Communications Technology Planning & Evaluation; Kim Jin-hoe, an official at the Ministry of Science and ICT’s Digital Society Planning Division; Kim Dong-wook, a managing director at Hana Securities; Chu Hyo-hyun, vice president at Apanda Partners; and Park Sang-wook, a unit head at Bankware Global. In, the first presenter, proposed using STOs to return a share of real estate development gains to the public. “Global tokenized assets are expected to grow to about $16 trillion by 2030,” he said, adding, “We no longer have time to stay at the starting line.” He said STOs had been limited by a lack of legal basis and the absence of a secondary market, but that revisions to laws have now created an institutional foundation. “It’s time to move to the execution stage,” he said. In outlined three real estate STO models: a national housing welfare fund model, a presale-linked model and a national dividend model. Under the concept, the public could participate in development projects and share profits in the form of dividends. “Traditional real estate development has been a zero-sum structure among stakeholders, but applying STOs shifts it to a structure where everyone shares gains,” he said. He described it as providing “basic assets,” not basic income, to the public. Hong presented a “jeonse deposit STO” model, saying tokenizing the deposit structure could help ease problems. He said blockchain could transparently record property rights information, while smart contracts could automate contract performance and compensation procedures. “Smart contracts are difficult to manipulate and execute automatically, which can lower the risk of jeonse fraud,” Hong said. “Tenants can reduce deposit risk, and landlords can secure asset liquidity.” He added that combining artificial intelligence for abnormal-transaction detection and risk forecasting could enable a more sophisticated real estate finance system. The National Assembly passed amendments in January to the Electronic Securities Act and the Capital Markets Act to introduce STOs. With the system set to take effect on Feb. 4 next year, detailed rules are being designed. The Financial Services Commission last month held the first meeting of a public-private “token securities consultative body” to discuss operating plans and policy direction. The group is to run on an ongoing basis through four working divisions covering technology and infrastructure, issuance, distribution and settlement.* This article has been translated by AI. 2026-04-28 17:37:05

Survey: 75% of South Korea visitors cite K-culture as key reason for trip K-culture is emerging as a major driver of South Korea’s tourism growth, with foreign visitors drawn by Korean music, TV and other cultural content staying longer and spending more than other travelers, according to an Airbnb global survey report. Airbnb released the findings at a media briefing on April 28 in Seongsu-dong, Seoul. The survey covered 4,500 travelers in the Asia-Pacific region and the United States who have visited South Korea or plan to visit. In the survey, 94% said K-culture influenced their interest in traveling to South Korea, and 75% cited it as a core reason for visiting. Those travelers spent an average of $435 more per person than travelers visiting for other reasons. In addition, 88% said they stayed, or plan to stay, at least three nights, and 68% said they tend to travel with friends or family. Sharon Chan, Airbnb’s head of communications for Asia-Pacific, said K-culture has become “a powerful magnet and engine” drawing travelers to South Korea. She said K-culture fans are not just consuming content but want to immerse themselves in everyday life and experience local culture firsthand. Airbnb said it is expanding hands-on offerings to turn that interest into real travel experiences. It will run a large pop-up in Seongsu-dong from May 1 to 7 in collaboration with the group Cortis. The “Airbnb Originals” experience is designed to reflect the artists’ personalities in the space and enable deeper interaction with fans. The company has pursued similar K-pop-linked stays and experiences in recent years, including accommodations tied to 2022’s “In the SOOP BTS ver. Season 2,” a 2024 stay recreating a space from Seventeen’s music video, and a 2025 experience marking a 10th debut anniversary. It has also offered immersive content by turning well-known landmarks into places to stay, including “Sky Suite, Hangang Bridge, Seoul,” and an overnight event at Dongdaemun Design Plaza (DDP). Still, industry concerns remain that K-culture’s tourism spillover beyond Seoul will require addressing chronic lodging shortages in regional areas. In the survey, 83% of potential travelers said the availability of suitable accommodations outside major cities was an important factor in booking decisions. Among potential MZ-generation travelers who are driving K-culture trips, 53% said lodging availability, including shared accommodations, was a key factor in whether they would visit South Korea. Another 34% said they would delay or reconsider a trip if they could not find suitable lodging. Seo Ga-yeon, Airbnb Korea country manager, said the company’s goal is to help ensure strong interest in K-culture spreads nationwide and leads to “a complete trip” with deeper cultural engagement. She said Airbnb would actively cooperate on expanding lodging infrastructure and improving systems, including reforms to the foreign tourist city homestay business framework, and contribute in practical terms to achieving an era of 30 million foreign visitors. 2026-04-28 17:36:09