IBK Industrial Bank, Korea Credit Guarantee Fund to Provide 500 Billion Won for Startup Financing IBK Industrial Bank of Korea said Thursday it signed a business agreement with the Korea Credit Guarantee Fund to provide 500 billion won in financial support aimed at helping innovative startups grow and expanding productive finance. The program targets early-stage startups that have strong technology but struggle to raise funds. Under the agreement, IBK said companies that receive KODIT guarantee certificates will be eligible for benefits including interest-rate cuts of up to 1.5 percentage points and a 0.5-point discount on guarantee fees. An IBK official said the support was designed for innovative companies facing financing difficulties despite solid technology, adding the bank will continue to back small and midsize companies through each stage of growth and work to invigorate the startup ecosystem.* This article has been translated by AI. 2026-04-24 10:52:08

NH NongHyup Bank, Vietnam’s Agribank sign MOU on digital agricultural finance NH NongHyup Bank said Thursday it signed a memorandum of understanding with Vietnam’s Agribank in Hanoi on a “strategic partnership for digital agricultural finance.” Agribank is Vietnam’s top agricultural commercial bank. NH NongHyup Bank said the agreement deepens existing cooperation in areas including digital finance and investment. The MOU calls for cooperation on building an integrated farming and finance platform, launching a card-based overseas remittance service, developing card products tied to K-content, and working together on Agribank’s privatization. NH NongHyup Bank said it will support Agribank’s agricultural finance platform using its experience with the NH All One Bank platform. It also cited NH Oneul Nongsa, an agriculture-focused platform launched by the National Agricultural Cooperative Federation in 2021, which offers rural labor matching, real-time local food sales and settlement inquiries, and real-time wholesale crop price checks. The two banks, which the lender described as leading agricultural finance institutions in South Korea and Vietnam, have expanded cooperation in areas such as staff exchanges since signing their first MOU in 2013. “This has strong symbolic meaning as cooperation between the leading agricultural finance institutions representing our two countries,” Kang said. “We will expand overseas the agricultural and digital finance achievements built in Korea and, through cooperation with Agribank, strengthen our global competitiveness by contributing to the development of agriculture and rural communities.”* This article has been translated by AI. 2026-04-24 10:51:19

Lee Jae-myung says capital gains tax cuts for nonresidents encourage housing speculation President Lee Jae-myung said April 24 that cutting capital gains taxes simply because someone bought a home for investment and held it for a long time, without living in it, is not a housing protection policy but “a policy that encourages housing speculation.” He also criticized attacks over a bill introduced in the National Assembly to limit the special deduction for long-term holding, saying it is unrelated to the government but is being “manipulated” to look like a presidential proposal. Lee, on a state visit to Vietnam, posted on X, formerly Twitter, alongside an article saying markets were confused by controversy over “abolishing” the long-term holding deduction. His post was titled, “Where there is income, there are taxes. People pay earned income tax on wages, so it is natural to pay capital gains tax on housing sales income.” Lee said he agrees there is a need for capital gains tax relief tied to how long a person actually lives in a home. But he said it is wrong to cut taxes for those who do not live there and bought it as an investment simply because they held it for a long time. “Who are the people who spread ‘buy one prime home’ speculation centered on Seoul’s Gangnam, driving a chain reaction of surging home prices — and who are the people shielding them?” Lee wrote. “Is it a ‘tax bomb’ to normalize the abnormal practice of cutting taxes because someone speculated for a long time on a home they don’t live in?” He also criticized opposition to scaling back long-term capital gains tax benefits, saying, “It seemed quiet for a while, but it looks like forces that encourage real estate speculation are starting to move again.” Lee said a bill proposed by some opposition lawmakers to limit the long-term holding deduction is being portrayed as his initiative. “To properly protect housing for single-home owners, it would be right to reduce tax relief for nonresidency holding periods and increase relief for residency holding periods by that amount,” he wrote. Calling “normalizing the abnormal” and escaping real estate speculation “this country’s final survival strategy,” Lee added, “Home prices must stabilize so people can build a home, get married, and have and raise children.” He asked readers to share their views in comments. Separately, Lee’s approval rating, which had dipped slightly, rebounded in a week to a new high, the report said, citing the KOSPI index hovering around 6,500 and first-quarter economic growth of 1.7%. Gallup Korea said April 24 that in a survey of 1,001 voters nationwide aged 18 and older conducted April 21-23, Lee’s approval rating rose 1 percentage point from the previous week to 67%. The poll was conducted through computer-assisted telephone interviews. At a 95% confidence level, the margin of error was plus or minus 3.1 percentage points. More details are available on the website of the National Election Survey Deliberation Commission.* This article has been translated by AI. 2026-04-24 10:48:57

White House Accuses China-Based Groups of Trying to Steal U.S. AI Technology The White House publicly accused China of attempting to steal U.S. artificial intelligence technology, saying China-based entities tried to extract the performance of American AI models on an industrial scale. The dispute has again highlighted U.S.-China tensions over AI and semiconductors ahead of President Donald Trump’s planned visit to China. Michael Kratsios, director of the White House Office of Science and Technology Policy, wrote on X on April 23 that the United States has evidence that foreign entities, mainly based in China, are running “industrial-scale distillation campaigns” to steal U.S. AI and that Washington will take steps to protect American innovation. Distillation refers to training on large volumes of outputs from a high-performing AI model to boost another model’s performance. A memo released the same day by the Office of Science and Technology Policy echoed that assessment, saying there is information that foreign entities primarily based in China are involved in deliberate, industrial-scale campaigns to distill America’s most advanced AI systems. The White House said the entities used tens of thousands of fake or routed accounts to evade detection and used “jailbreaking” techniques to expose proprietary information, aiming to mimic core capabilities of U.S. AI models at low cost. The administration signaled follow-up steps, saying it will share relevant information with U.S. AI companies and support coordinated private-sector responses. It also said it plans to develop best practices to identify, mitigate and recover from industrial-scale AI distillation activity and will consider ways to hold foreign actors accountable. China pushed back. The Chinese Embassy in Washington told Reuters it opposes “groundless accusations” and said China values intellectual property protection. The announcement came ahead of a planned summit between Trump and Chinese President Xi Jinping. Reuters reported the issue could also affect whether Nvidia will be allowed to export AI semiconductors to China.* This article has been translated by AI. 2026-04-24 10:46:18

Gwanghallu Pavilion, setting of Korea's Romeo and Juliet tale, eyes national treasure status SEOUL, April 24 (AJP) — Gwanghallu Pavilion in Namwon, a southwestern city immortalized as the backdrop to Korea’s Romeo-and-Juliet-like love story, has been preliminarily designated as a national treasure, the Korea Heritage Service said Friday. The move marks an upgrade from its designation as a state treasure in 1963, reflecting its elevated historical, architectural and cultural significance. Widely regarded as the finest pavilion in the Honam region, Gwanghallu is among the largest government-built wooden structures from the late Joseon Dynasty. The pavilion was first established in 1419 by Hwang Hui during his exile in Namwon. It later evolved into a broader cultural complex as officials, including Jeong Cheol, reshaped the surrounding landscape by adding a pond, three symbolic islands and the Ojak Bridge. The original structure was destroyed during the Japanese invasions of Korea (1592–1598) and rebuilt in 1626, preserving much of its original form for nearly four centuries. Beyond its architectural value, Gwanghallu is widely celebrated as the setting of The Tale of Chunhyang, one of Korea’s most beloved classical novels, where the lovers Chunhyang and Lee Mong-ryong are said to have first met. Final designation will follow a 30-day public review period and deliberation by the Cultural Heritage Committee. 2026-04-24 10:45:34

Oticon Unveils 2026 Government-Subsidy Hearing Aid Lineup With More Options Denmark-based hearing solutions company Oticon has unveiled a lineup of hearing aids designed to meet South Korea’s 2026 government subsidy standards. The lineup includes open-fit, in-the-ear and behind-the-ear styles and expands the range of rechargeable models, the company said, giving users more choices. South Korea’s hearing aid support program provides a set subsidy to people registered with hearing disabilities, reflecting both price and performance standards. Industry officials view the program as a key factor in improving access, as the number of people with hearing loss continues to rise amid rapid population aging. Oticon said the lineup is built around its premium B500 model and includes the E, F and PG series. The products are segmented so users can choose based on the degree of hearing loss and daily listening environments. The B500 combines real-time motion sensors with artificial intelligence-based sound processing, Oticon said. The system analyzes a user’s movement and surrounding sound conditions to emphasize speech while reducing noise as needed. The company said the market is shifting from simple amplification to environment-aware sound processing. The B500 also supports Bluetooth LE Audio to improve connection stability with smartphones and TVs, and it includes Auracast for audio sharing in multi-device settings. Its rechargeable design is intended to reduce the burden of battery replacement. The E series focuses on noise control for everyday settings, including places such as cafes and streets. The F series emphasizes core functions to lower costs, targeting first-time users and demand for entry-level models. For users with severe and profound hearing loss, the PG series is a high-power line designed for stronger output and durability, Oticon said. The lineup also includes recommended models for infants and children, reflecting hearing development during growth. The company noted that personalized fitting and after-sales care are also critical in the hearing aid market, because hearing tests, adjustments and environment-based settings can determine real-world satisfaction. Demant Group, which operates Oticon, said it has more than 100 years of research in hearing technology and continues to do business globally. In South Korea, its subsidiary Demant Korea handles product supply and services, and it has built a cooperation system with Diatec Korea in hearing diagnostic equipment. “Beyond simple feature comparisons, it is important to improve the listening experience people actually feel in daily life,” Demant Korea CEO Park Jin-gyun said. “We will support choices that fit users’ hearing conditions and living environments.” Industry officials expect hearing aid technology to advance around AI-based personalization and expanded wireless connectivity, with demand likely to keep rising as the older population grows.* This article has been translated by AI. 2026-04-24 10:45:20

Justice Ministry Releases Official Stats on Foreign Residents’ Moves and Inflows The Justice Ministry on Thursday released new official statistics that track where foreign residents in South Korea move and how many newly enter or leave the country. The ministry said two datasets — “foreign residents’ domestic movement statistics” and “foreign residents’ new inflow and outflow statistics” — were newly designated as nationally approved statistics after review by the National Data Policy Committee. Nationally approved statistics are government-certified data intended to ensure credibility and to serve as basic material for policy planning, the ministry said. The domestic movement statistics compile quarterly figures on interregional moves, such as move-ins and move-outs, using address-change reports filed by foreign residents, including ethnic Koreans. The inflow and outflow statistics compile monthly totals of new foreign registrations and departures after registration cancellations, allowing officials to track changes in the foreign resident population and the scale of inflows. “The new statistics were prepared to reflect the growing number of foreign residents in South Korea and rising interest in immigration policy,” the ministry said. As of last year, about 2.78 million foreign residents lived in South Korea, accounting for 5.4% of the total population. The ministry said the data will be used as baseline material to estimate an appropriate level of foreign inflows, advance region-based immigration and border policies, and help local governments analyze demand related to foreign residents. Justice Minister Jeong Seong-ho said, “To make immigration administration more transparent, we will actively develop and open new statistics and continue to pursue immigration policy based on data.”* This article has been translated by AI. 2026-04-24 10:36:18

Jung Cheong-rae Calls KOSPI’s 6,500 Breakthrough ‘Remarkable,’ Sees Room for 8,000 Jung Cheong-rae, leader of the Democratic Party of Korea, called the KOSPI’s move above the 6,500 mark “remarkable” and said the benchmark could keep climbing. Speaking at an on-site Supreme Council meeting in Yeonsu-gu, Incheon, on April 24, Jung said South Korea is entering an era in which “Korea risk” has been removed and the country can enjoy a “Korea premium.” The KOSPI on the previous day broke above 6,500 intraday for the first time. Citing price-to-book ratio levels that he said still trail the OECD average, Jung predicted the KOSPI could break 7,000 and 8,000. He said the rise is a symbolic indicator that South Korea is “returning to normal.” Jung also noted that former presidents Lee Myung-bak and Park Geun-hye had made KOSPI-related pledges that were not kept, adding that the Lee Jae-myung government would be different. He said the Democratic Party would support the president’s governing philosophy with the party, government and presidential office acting as “one team” and speaking with “one voice.”* This article has been translated by AI. 2026-04-24 10:33:18

Korean Air delivers 5,000th wingtip device for Airbus' A320 SEOUL, April 24 (AJP) - Korean Air has delivered its 5,000th "Sharklet," a wingtip device fitted to Airbus' A320 aircraft, the South Korean flagship carrier said on Friday. The upward-curving Sharklet is attached to the tip of the narrow-body airliner, helping improve aerodynamic efficiency and reduce fuel consumption. After winning a bid from Airbus in 2010 to manufacture Sharklets, Korean Air produced its first unit in July 2012 and has since built an automated assembly line capable of producing more than 50 units per month. "Reaching 5,000 units is more than a figure. It is a proud symbol of our capabilities as a key partner in the global aerospace industry," said Yoo Jong-seok, a Korean Air executive, at a ceremony marking the milestone in the southern port city of Busan the previous day. 2026-04-24 10:26:31

Hyundai Mobis posts steady Q1 gains amid global demand slump SEOUL, April 24 (AJP) - Hyundai Mobis reported resilient first-quarter earnings, logging revenue of 15.56 trillion won ($10.5 billion) and operating profit of 802.6 billion won as expanded supply of high-value electrification components and robust aftermarket demand offset a broader cooling in global vehicle sales. Revenue rose 5.5 percent from a year earlier while operating profit climbed 3.3 percent, the company said in a regulatory filing on Friday. Net profit came in at 883.1 billion won. The company attributed its growth to increase in shipments to overseas automakers and a favorable exchange rate bolstered the top line, with the aftermarket parts division riding sustained global demand. The module and core-parts manufacturing segment, however, remained in the red despite a modest 4.9 percent revenue increase. Hyundai Mobis said the shortfall came with ramp-up costs at new European plants — a powertrain-electrification facility in Slovakia that began mass production this quarter and a battery-system assembly plant in Spain set to come online later this year — compounded by softer worldwide vehicle demand. "Despite a challenging business environment, we plan to invest more than 2 trillion won in R&D this year for the first time, strengthening core competitiveness for the future mobility market," said a Hyundai Mobis spokesperson. "With our customers set to launch a range of new models this year, we expect earnings to improve gradually alongside company-wide profitability initiatives." Shares of Hyundai Mobis traded at 426,000 won per stock on 10:24 a.m., 3.73 percent lower than the day before. 2026-04-24 10:24:49