Pyongyang tests banned cluster missiles as Kim Jong-un asserts saturation capability SEOUL, April 20 (AJP) - In a bid to assert its ground-to-ground wide-area suppression capability, Pyongyang test-fired tactical ballistic missiles carrying cluster warheads on Sunday. The drill, reported by the Korean Central News Agency on Monday, involved weaponry banned by most of the international community due to its indiscriminate nature and lasting humanitarian risk. According to Pyongyang's state media, the Missile Administration of the Democratic People's Republic of Korea (DPRK) conducted the test to evaluate the lethality of the Hwasongpho-11 Ra, a surface-to-surface projectile designed to saturate targets with submunitions rather than a single explosion. North Korean leader Kim Jong-un oversaw the launches alongside senior officials. During the exercise, five missiles were fired toward an island target 136 kilometers (84.5 miles) away. The projectiles struck an area measuring between 12.5 to 13 hectares with high density, a footprint roughly equivalent to 18 soccer fields. The focus on cluster munitions follows recent developments in the Middle East, where Iranian cluster ballistic missiles successfully penetrated Israel's layered air defense network. According to reports from human rights groups and defense analysts, these missiles challenge even sophisticated systems like the Arrow-3 by releasing their payloads at altitudes between 7 and 10 kilometers. The timing of this disclosure suggests a deliberate effort to demonstrate tactical parity with modern battlefield trends. This transparency likely reflects a growing confidence in the weapon's ability to bypass regional defenses, mirroring recent tactical successes seen in the Middle East. By publicizing the results of a five-year development cycle, Pyongyang could be notifying South Korea that its existing interceptor systems may no longer guarantee protection against a saturated missile volley. This development marks a shift toward operational, battlefield-ready tactics, signaling that the regime has moved beyond strategic posturing to focus on high-density suppression of specific target areas. These munitions have been largely outlawed by international consensus because they disperse hundreds of small bomblets over vast areas, frequently failing to detonate upon impact. These unexploded submunitions effectively become landmines that kill and maim civilians, even decades after a conflict has concluded. This persistent threat led a majority of the world's nations to renounce their use under an international treaty established in 2007, though several major military powers such as the United States, Russia, China, South Korea, and North Korea remain outside the agreement. Despite the international outcry over such weaponry, the Korean Peninsula remains one of the world's primary hubs for cluster munition production and storage. South Korea is a major manufacturer of these weapons and maintains a stockpile that ranks among the largest in the world, trailing only the U.S., China, and Russia, according to data from the Landmine and Cluster Munition Monitor. South Korea has consistently declined to join international bans, maintaining that the munitions are a critical defensive necessity to counter the massive conventional forces and artillery that the North has concentrated along the border. A cluster bomb functions as a parent munition that opens in mid-air to scatter dozens or hundreds of smaller submunitions over a target zone. This mechanism is designed to destroy multiple targets simultaneously, such as infantry formations, unarmored vehicle convoys, or aircraft on a runway. Chang Do-young, the spokesperson for the South Korean Joint Chiefs of Staff, stated during a briefing that "related content was being closely monitored and detailed specifications are being analyzed in depth" and added that "North Korea's ballistic missile launch is a clear violation of UN Security Council resolutions, and it must immediately stop the continuous missile provocation acts that heighten tensions on the Korean Peninsula and actively participate in our government's efforts to establish peace." 2026-04-20 16:15:53

South Korean names missing from Forbes' AI 50 list SEOUL, April 20 (AJP) - No South Korean company made Forbes' list of the world's "most promising privately held" companies in the field of artificial intelligence (AI). According to the magazine's "AI 50" list, released last week, U.S. startups dominated the list, with only two from Sweden and one each from Canada and the U.K. No Asian companies were included with none from South Korea. The annual list of top AI companies, now in its eighth year, was compiled following an initial review of thousands of eligible startups. A panel of experts, scholars, and researchers evaluated each firm based on its "technical rigor, technical potential, and market competitiveness." "Juggernauts like OpenAI and Anthropic continue to be the largest companies on the list, attracting unprecedented sums of cash from marquee Silicon Valley venture capitalists and tech behemoths alike as they reportedly head towards blockbuster IPOs," the magazine said. "The two AI giants have accumulated a combined $242.6 billion in venture funding, about 80 percent of the total $305.6 billion that the companies on this year's AI 50 list have raised," it added. A long road lies ahead for South Korea, as the country remains absent from the list, despite the government's goal of becoming one of the world's top three AI powerhouses through a project to develop an independent AI foundation model. Industry insiders argue that South Korean startups must develop revenue models that extend beyond the domestic market and secure overseas investment to compete on the global stage, as the AI 50 list prioritizes business performance and fundraising as key indicators. 2026-04-20 15:29:08

K-pop identity and global expansion take center stage at Kookmin University special lecture SEOUL, April 20 (AJP) - Professor Lee Gyu-tag from George Mason University Korea examined the cultural evolution and future trajectory of K-pop during a guest lecture at Kookmin University on April 16. Speaking as the featured guest for the 663rd Thursday Special Lecture, Lee explored how the genre's identity has shifted from a local South Korean product to a global phenomenon, the prominent university said Monday. The lecture defined K-pop not merely as a broad term for all South Korean popular music, but as a specific cultural genre built upon a distinct production method and industrial structure. Professor Lee identified the "total management system"—integrating planning, production, and distribution alongside music, performance, and digital content—as a core element that evolved independently while being influenced by the division of labor models found in overseas music industries. The meaning of the "K" in K-pop is undergoing a transformation as the genre expands globally. While early efforts emphasized South Korean identity, Professor Lee analyzed how recent strategies have shifted toward the global market, citing the release of English-language songs and the inclusion of members from diverse nationalities, such as the trajectory seen with BTS. Professor Lee also noted that the term "K-pop" was first adopted abroad before being reintroduced to South Korea, helping to shape its current identity. He explained that the genre is unique because it is defined not only by its producers but also by the perceptions and evaluations of its international audience. The competitive strength of the genre lies in its business model, the way it builds relationships with fans, and the "maximalist" characteristics found in its performance and style. While citing experimental cases where the "K" is removed or groups consist of various nationalities, Professor Lee maintained that the South Korean production system and cultural context remain the central foundation. The lecture concluded with an assessment that the inherent ambiguity of K-pop could serve as a bridge for further expansion. Professor Lee emphasized the importance of understanding cultural context and pursuing balanced development for the industry moving forward. KMU has operated its Thursday Special Lecture as a regular course featuring external speakers for 30 years, marking the first and longest-running program of its kind among South Korean universities. Approximately 670 speakers from various fields have participated, including former President Roh Moo-hyun, Cardinal Stephen Kim Sou-hwan, author Rhyu Si-min, and film director Park Chan-wook. 2026-04-20 15:03:35

Samsung SDI strikes first battery supply deal with Mercedes-Benz SEOUL, April 20 (AJP) - Samsung SDI announced it has signed a multi-year contract to supply electric vehicle batteries to Mercedes-Benz, marking the Korean battery maker's first supply agreement with the German premium automaker. The deal, signed at the Andaz Seoul Gangnam hotel on Monday, will see Samsung SDI provide high-performance cells built with high-nickel NCM (nickel, cobalt, and manganese) cathode chemistry for Mercedes-Benz's next-generation electric vehicles. Samsung SDI CEO Choi Joo-sun and Mercedes-Benz Chairman Ola Kallenius were among senior executives from both companies who attended the signing ceremony. Under the agreement, the batteries will be fitted in upcoming compact and mid-size electric SUVs and coupe models as Mercedes-Benz seeks to sharpen its electrification lineup. The cells are designed to maximize driving range through high energy density while delivering long cycle life, high power output and Samsung SDI's proprietary safety solutions. "This partnership represents the union of the innovative DNA that both companies possess," a Samsung SDI spokesperson said said, adding that the contract was significant in securing battery orders aimed at leading the global EV market. The Mercedes-Benz deal marks Samsung SDI's return to the EV contract table after a string of energy storage deals, including a 1.5 trillion won ($1 billion) agreement in March to supply prismatic ESS batteries to a U.S. energy firm. The company has been pivoting aggressively toward the fast-growing North American storage market amid sluggish global EV demand, but the latest contract signals it is pursuing both fronts simultaneously. Samsung and Mercedes-Benz said they also plan to deepen strategic cooperation in next-generation battery development and future mobility technologies. Shares of Samsung SDI was trading at 540,000 won on 3:21 p.m., 5.26 percent higher than the day before. 2026-04-20 15:00:07

Horror film emerges as surprise box-office draw SEOUL, April 20 (AJP) - Horror film "Salmokji: Whispering Water" held onto the top spot at the domestic box office for a second consecutive week, driven by strong word of mouth among younger moviegoers. According to the Korean Film Council on Monday, Lee Sang-min's directorial debut feature attracted 472,109 moviegoers over the weekend, bringing its cumulative total to 1.46 million since its release earlier this month. It already surpassed its break-even point of 1 million moviegoers in just about ten days after its release on April 8, extending its unexpected box-office run. The 95-minute film revolves around a film crew that visits a reservoir where an unidentified figure has been spotted, only to encounter something hidden in the dark waters below. Word of mouth has spread online, with viewers taking to social media to share their views, fueling curiosity about the film. In particular, its open-ended conclusion has sparked heated debate over interpretations, prompting many to watch it again. 2026-04-20 14:14:02

Dongkook Life Science Wins EU CEP for Iopamidol API, Expands Contrast-Agent Supply Chain Dongkook Life Science said April 20 it has obtained a Certificate of Suitability, or CEP, for its iopamidol active pharmaceutical ingredient. A CEP is a quality certification for APIs issued by the European Directorate for the Quality of Medicines & HealthCare, or EDQM, and is a key requirement for entering the European pharmaceutical market. Iopamidol is a nonionic iodine-based contrast agent used in CT scans. The company said demand for diagnostic imaging is rising, and that securing quality at the API stage is closely tied to the competitiveness of finished drugs. Dongkook Life Science previously obtained approval from China’s National Medical Products Administration, or NMPA, for its gadobutrol API, an MRI contrast agent. In Japan, a manufacturer of a finished drug using the company’s gadobutrol API has cleared the Pharmaceuticals and Medical Devices Agency, or PMDA, approval process, securing a supply base. The company said this links Europe, China and Japan into a global supply chain for contrast agents. “We plan to increase the share of overseas sales by advancing quality and strengthening production capabilities,” a company official said. * This article has been translated by AI. 2026-04-20 14:00:46

HK inno.N, NextGen Bioscience to Co-Develop Idiopathic Pulmonary Fibrosis Drug Candidate NXC680 HK inno.N said on the 20th that it has signed a joint research and development agreement with NextGen Bioscience to co-develop NXC680, a drug candidate for idiopathic pulmonary fibrosis, or IPF. The companies said the deal is aimed at combining HK inno.N’s R&D capabilities with NextGen’s work on the candidate to move it into clinical development and explore global commercialization potential. Under the agreement, HK inno.N will handle optimization of the finished-drug formulation and run clinical trials, while NextGen will supply the active pharmaceutical ingredient and provide research data. The two companies plan to jointly conduct a Phase 1 clinical trial. NXC680 has shown potential to treat pulmonary fibrosis in nonclinical studies and has received orphan drug designation from the U.S. Food and Drug Administration. In South Korea, it has obtained approval for a Phase 1 investigational new drug application. Song Geun-seok, a vice president at HK inno.N, said the company will work to increase the value of competitive candidates in areas with high unmet medical needs and, over the mid to long term, strengthen its new-drug portfolio for the global market.* This article has been translated by AI. 2026-04-20 13:57:25

SK hynix rolls out new memory for Nvidia's Rubin SEOUL, April 20 (AJP) -South Korean chipmaker SK hynix announced Monday that it has begun mass production of its SOCAMM2 192GB memory module, a product specifically optimized for Nvidia's next-generation "Vera Rubin" AI platform. Based on 10-nanometer-class sixth-generation (1c) LPDDR5X DRAM, the new AI server module aims to resolve memory bottlenecks in massive AI models and maximize GPU processing speeds. The product reconfigures low-power mobile memory for server environments, offering a combination of high bandwidth, low power consumption, and easy module replacement. According to SK hynix, SOCAMM2 delivers more than twice the bandwidth and over a 75 percent improvement in energy efficiency compared to conventional server RDIMMs. The module acts as a "middle memory" layer between High Bandwidth Memory (HBM) and DDR5 system memory. By adopting an LPDDR-based structure, the product significantly lowers power and cooling costs for data centers. "Through close cooperation with Nvidia, we will resolve bottlenecks in AI infrastructure and provide optimal performance," said Kim Ju-seon, President of AI Infra at SK hynix. "With the supply of SOCAMM2 192GB, we have set a new standard for AI memory performance." The module features a press-fit connector structure, ensuring high signal integrity and making replacement and expansion easier compared to traditional onboard LPDDR setups. The deepened partnership comes as the U.S. tech giant accounts for a significant portion of the chipmaker's business. According to its recent business report, sales to Nvidia reached 23.26 trillion won last year, making up 24 percent of SK hynix's total revenue. Reflecting strong investor sentiment toward its AI-driven momentum, shares of SK hynix were trading at 1,170,000 won as of 11:35 a.m. on Monday, up 3.72 percent from the previous session. 2026-04-20 11:55:16

BOK's Rhee swan song: central bank must act as think tank beyond rate tools SEOUL, April 20 (AJP) — Bank of Korea Governor (BOK) Rhee Chang-yong emphasized the central bank’s dual role as a think tank in his swan-song remarks before retiring Monday, even as critics argued the Bank of Korea strayed into non-monetary areas such as housing and education under his watch. In his final speech before stepping down, Rhee reflected on the limits of traditional policy tools after navigating multiple crises over the past four years. “Managing various crises over the past four years, I have realized once again that it is becoming increasingly difficult to achieve stability and growth through monetary and fiscal policies alone,” he said, stressing that deeper socioeconomic reforms are essential for policy effectiveness. He pointed in particular to changes in the foreign exchange market, warning that its structure has shifted in ways that constrain conventional responses. Rhee said the market, once dominated by foreign capital flows, is now increasingly driven by domestic actors such as corporations, individuals and the National Pension Service. “We have entered an era where domestic overseas investment fluctuates based on various factors, including the labor market, tax policies, pension systems and geopolitical risks, rather than just interest rate differentials,” he said. Under such conditions, relying solely on market intervention or interest rate adjustments to manage exchange rates could produce unintended side effects, he warned. Rhee also addressed structural challenges including low birth rates and sluggish growth, making clear that short-term policy measures would be insufficient. Labor and education reforms, he said, remain the only viable medium- to long-term solutions. He reiterated his long-held view that the central bank should expand its role beyond traditional monetary policy. “My belief that we should look beyond the boundaries of monetary and financial policy to become the nation’s top think tank remains the same,” Rhee said, urging continued research into structural issues such as housing, youth employment and elderly poverty. Reflecting on his tenure, Rhee described it as a period of “constantly having to exceed expected boundaries,” shaped by successive global and domestic shocks. Following the inflation surge triggered by the Russia-Ukraine War shortly after he took office, the central bank raised its benchmark rate to 3.5 percent, including two “big step” hikes. Those tightening measures were followed by a series of disruptions, including instability in real estate finance, the collapse of Silicon Valley Bank, rising household debt, surging housing prices in the Seoul metropolitan area and exchange rate volatility driven by Middle East tensions. Rhee cited inflation control as a key achievement. Consumer prices, which peaked at 6.3 percent in July 2022, eased to the high-2 percent range in late 2023 and have remained in the low-to-mid 2 percent range since 2024. He also pointed to the first decline in the household debt-to-GDP ratio in two decades as a meaningful milestone. The ratio, which peaked at 99.2 percent in the third quarter of 2021, has since fallen to the high-80 percent range. Additional achievements included the introduction of Korean-style forward guidance and the publication of more than 20 structural reform reports aimed at improving policy communication. Since 2022, the central bank has regularly issued “BOK Issue Notes” addressing non-monetary topics such as demographic shifts and changes in the global trade order. Internationally, Rhee was appointed as the first head of a non-reserve currency central bank to chair the Committee on the Global Financial System at the Bank for International Settlements. Despite these gains, Rhee acknowledged that financial and foreign exchange markets remain unsettled. The Korean won weakened about 9 percent from 1,367 per dollar in June 2025 to around 1,490 in April 2026, a sharper decline than other major Asian currencies such as the Japanese yen and Chinese yuan, which fell by only 1 to 2 percent over the same period. “It weighs heavily on my heart to leave while the foreign exchange and financial markets have not sufficiently stabilized due to the ongoing conflict in the Middle East,” Rhee said, expressing hope that stability would eventually return based on South Korea’s experience in managing past crises. Since taking office on April 21, 2022, Rhee has been credited with managing crises through timely interest rate adjustments in the early stage of his tenure, and expanding the central bank’s scope through the publication of issue notes. However, he also faces criticism for failing to take bolder monetary action against household debt, - holding benchmark rate still at 2.5 percent for 7 consecutive sessions - which surpassed 1,800 trillion won ($1.21 trillion), and the weakening won toward the end of his term. Shin Hyun-song, former head of the monetary and economic department at the BIS, is expected to succeed Rhee from Tuesday. Shin is clearly distinguished from Rhee by his track record of hawkish stances including preemptive interest rate hikes and balance sheet reductions during past crises such as the U.S. financial crisis and the Russia-Ukraine war, as well as his consistent emphasis on the intrinsic role of central banks. The National Assembly has yet to adopt a confirmation report due to ongoing controversies surrounding Shin’s foreign assets and alleged "paper residence." Whether President Lee Jae Myung will move forward with the appointment later today remains a key focus of attention. The won opened at 1,479.5 per dollar in the Seoul foreign exchange market, up 4 won from the previous session. 2026-04-20 11:53:31

Asian markets open the week on positive note despite Hormuz uncertainties SEOUL, April 20 (AJP) - Most Asian markets opened the week higher Monday despite conflicting developments in the Middle East ahead of the Tuesday expiration of the truce between the United States and Iran. Hopes had risen last week that the conflict might ease and that the Strait of Hormuz would reopen, but Iran said over the weekend that the strait remained closed. Reports that two Indian-flagged vessels were forced to turn back added to concerns over the security of shipping through the critical waterway. U.S. President Donald Trump said on Truth Social that Iran’s actions in the strait amounted to a “total violation” of the ceasefire and warned that Washington could take further action if Tehran rejected what he described as a “fair and reasonable deal.” A new round of negotiations is expected this week in Pakistan, led by Vice President JD Vance, in a renewed push to end the conflict. However, significant gaps remain, and Iran has signaled it may not attend the talks, calling U.S. demands excessive. Pakistan previously brokered the two-week ceasefire, which is set to expire Tuesday. Despite the geopolitical overhang, regional equities advanced. Japan’s Nikkei 225 rose 1 percent to 59,075.49, holding above the 59,000 level after reaching a record high last week. China’s Shanghai Composite Index edged up 0.45 percent to 4,052.13, while Hong Kong’s Hang Seng Index gained 0.34 percent to 26,228.18. China kept its benchmark lending rates unchanged for an 11th straight month, as policymakers weighed the economic impact of the Middle East conflict against resilient domestic growth and easing deflationary pressures. The People’s Bank of China held the one-year loan prime rate at 3.0 percent and the five-year rate at 3.5 percent. South Korean equities also traded higher, with the KOSPI rising 1.21 percent to 6,266.65 and the KOSDAQ gaining 0.86 percent. Among gainers, Doosan Enerbility climbed more than 5 percent, supported by expectations that heightened geopolitical risks could accelerate nuclear energy projects, particularly in the United States. Chipmakers were also firm. Samsung Electronics reversed early losses to rise 0.69 percent, while SK hynix gained 3.06 percent. Battery stocks rallied, with LG Energy Solution advancing 3.95 percent, while SK Square climbed 3.96 percent to a record high, supported by improving earnings expectations for SK hynix. In contrast, automakers were under pressure, with Hyundai Motor falling 0.74 percent and Kia edging down 0.03 percent. Financial stocks were largely steady, with KB Financial Group rising slightly, while Samsung Life Insurance slipped marginally. On the secondary board, battery materials and biotech shares led gains. EcoPro and EcoPro BM moved higher, while Alteogen and HLB also advanced. In the currency market, the Korean won strengthened modestly, with the dollar trading at 1,474.30 won, compared with the previous close of 1,483.5 won. 2026-04-20 11:32:11