Vance Pakistan Trip Put on Hold, Casting Doubt on Second U.S.-Iran Talks U.S. Vice President JD Vance’s planned trip to Pakistan has been put on hold, clouding prospects for a second round of U.S.-Iran talks that had been expected to take place there. With Iran not responding to Washington’s latest proposal, analysts say a diplomatic solution could slip further out of reach. CNBC reported that Vance had been expected to travel to Pakistan for the second round of peace talks with Iran, but the schedule was delayed. The New York Times, citing a U.S. official familiar with the matter, said the departure was postponed because Iran has not replied to the U.S. negotiating position. The uncertainty quickly rippled through markets. U.S. stocks fell and international oil prices rose on renewed concern that potential U.S. and Israeli military action against Iran may not be contained through diplomacy. Reuters quoted a senior Iranian official as saying Pakistan has not yet resolved what he described as a U.S. naval blockade of Iranian ports near the Strait of Hormuz. “Iran cannot accept negotiations under pressure or talks premised on surrender,” he said, while leaving open the possibility of meeting U.S. officials in Pakistan if Washington drops what he called its pressure-and-threat approach. The reports came as a two-week cease-fire, brokered on the night of the 7th, was nearing its end. The timing of the U.S. negotiating team’s departure for Islamabad also remained unclear. President Donald Trump said the U.S. delegation “is going now,” but CNBC later cited a source saying the team was “getting ready to leave soon.” In an interview with CNBC, Trump said he believed the United States would ultimately reach “a good deal” with Iran, but added that the chances of extending the cease-fire further were low. After the cease-fire took effect, Vance previously traveled to Islamabad with Steve Witkoff and Jared Kushner for talks with Iranian representatives. That meeting ended without an agreement after 21 hours. The White House said Vance was attending an additional policy meeting on Monday. CNN reported that Vance’s motorcade was seen arriving at the White House later that afternoon. 2026-04-22 08:22:39

Hana Securities Cuts CJ Logistics Target Price on Forwarding Weakness, Keeps Buy Hana Securities said Tuesday it lowered its target price for CJ Logistics to 165,000 won, citing clearer signs of a downturn in its forwarding business. The brokerage maintained its “buy” rating, saying the company’s mid- to long-term growth outlook remains intact. In a report, Hana Securities analyst Ahn Do-hyeon said the firm had previously projected CJ Logistics’ full-year profit growth at 10% on rising parcel volumes and expansion in its warehousing and distribution (W&D) business, but cut its estimate to 2%. Ahn said the parcel unit is seeing operating leverage from volume growth, but profitability improvement in the global division is likely to be slower than expected. He added that higher oil prices since the war are expected to raise costs in the contract logistics (CL) unit and could also weigh on port cargo volumes. He said the W&D unit acquired logistics assets from major commerce companies such as E-Mart in 2025, but profitability gains are being delayed as the company works to stabilize the centers. Ahn forecast first-quarter revenue of 3.097 trillion won, up 4% from a year earlier, and operating profit of 99.1 billion won, up 16%, for an operating margin of 3.2%. He said parcel volume is expected to rise 14% from a year earlier, far outpacing market growth of 6%, and that CJ Logistics’ parcel market share continues to increase. However, he said that despite W&D growth, overall CL revenue is expected to rise 5% year over year due to weaker port volumes. Global revenue is estimated to fall 6%, he said, adding that while the U.S. and India units are performing well, a postwar contraction in the forwarding business is becoming more visible. Still, Ahn said CJ Logistics’ growth trajectory “remains valid” in broad terms. He said the parcel business is expected to grow by gaining market share on the back of the company’s seven-day delivery service, and that CJ Logistics’ W&D business should improve profitability as outsourcing expands in the domestic W&D market.* This article has been translated by AI. 2026-04-22 08:21:50

SK On Moves to Open Tokyo Office to Expand Japan Auto and ESS Business SK On is moving to set up a local office in Japan as it steps up its push into the market. Industry sources said SK On is completing administrative procedures with the aim of opening a Tokyo office by the end of this month. The Japan office would serve as a base to expand cooperation with local automakers, including Nissan, while also exploring opportunities in energy storage systems, or ESS. The company plans to broaden its portfolio beyond EV batteries into ESS and speed up new project orders. It is also known to be discussing EV battery and ESS cooperation plans with multiple Japanese companies. The move comes as the EV market slowdown drags on, with SK On seeking a two-track approach: entering Japan’s conservative auto market while expanding its ESS business. “Using our Japan office as a hub, we will strengthen a faster, closer response system to customer needs and continue profitability-focused growth, including securing new orders,” an SK On official said.* This article has been translated by AI. 2026-04-22 08:21:18

Korea Credit Union Federation Moves to Launch Asset Management Firm in October The Korea Credit Union Federation said April 22 it is moving ahead with plans to establish an asset management company to strengthen oversight of credit unions’ financial soundness. The federation has reviewed the plan as a way to speed up the disposal of nonperforming loans and to provide more systematic support for loss prevention and management improvement. With revisions to the Credit Union Act completed after a National Assembly plenary vote on March 31 and promulgation on April 21, the federation said it will begin related procedures with the goal of starting operations in October this year. The new credit union asset management company will work alongside KCU NPL Loan, which has handled bad-loan resolution, to help stabilize delinquency rates and strengthen soundness management. Unlike KCU NPL Loan, which has faced limits on NPL purchases due to regulations such as caps on total assets, the new company will be able to buy nonperforming loans more flexibly without requiring additional capital contributions. It may also borrow from the deposit protection fund if needed, which the federation expects will improve the speed and flexibility of funding. The company will also be able to carry out 12 types of work, including credit checks on debt-related parties and debt collection. The federation said this should allow it to manage the full process more integrally, from purchasing nonperforming loans to recovery, improving efficiency. Go Yeong-cheol, chairman of the Korea Credit Union Federation, said the company “will provide practical help in managing the soundness of member credit unions by increasing the speed and efficiency of nonperforming-loan resolution.” He added that the federation “will actively support” efforts to ensure the system operates stably in the field.* This article has been translated by AI. 2026-04-22 08:19:04

Singer Yook Joong-wan Says He Gave Up Scooters After Wife’s Warning Singer Yook Joong-wan said he quit riding scooters, a hobby he once called his “happiness,” after his wife urged him to stop following the birth of their child. Yook appeared on the SBS variety show “Same Bed, Different Dreams Season 2: You Are My Destiny,” which aired on April 21. “Scooters were happiness for me, but it felt like my arms and legs were cut off,” Yook said. He said his wife told him to give it up because their baby had been born, and the couple argued. “Then she said, ‘If something happens to you, are you going to take care of the baby?’ After hearing that, I wrapped it up,” he said. Asked by Kim Sook whether he could ride in secret, Yook said he had in fact bought a scooter without telling his wife, but suspected she kept getting tips. He said he covered up with a helmet and face covering, leaving only his eyes visible, but was recognized outside his home by his 3-year-old daughter, who called out “Dad,” drawing laughter.* This article has been translated by AI. 2026-04-22 08:18:17

DS Investment & Securities Raises SGC Energy Target on Data Center, Power Outlook DS Investment & Securities on Tuesday maintained its “buy” rating on SGC Energy and raised its target price to 83,000 won, citing expectations for a normalization in power-generation earnings and expansion of its data center business. Ahn Ju-won, a researcher at DS Investment & Securities, said SGC Energy posted first-quarter revenue of 612.0 billion won and operating profit of 35.6 billion won, down 1.0% and up 102.7% from a year earlier, respectively. He said higher winter electricity demand lifted the system marginal price, or SMP, slightly boosting generation revenue, while the generation operating margin recovered to 6.7%, helping overall profitability return to normal levels. The generation margin was about 2.2% in the first quarter of last year. The construction segment delivered steady results as plant project progress improved, with an operating margin of 5.9%. The glass business, however, saw both revenue and profit slow due to weaker consumption of alcoholic beverages and drinks, he said. Looking ahead, Ahn said rising oil prices tied to tensions in the Middle East could push SMP higher and accelerate gains in the generation business. He noted the average SMP was 107 won in the first quarter but had risen to 119 won as of April. He added that while WTI has fallen from its peak, it remains in the $80 range, suggesting SMP could stay elevated. DS Investment & Securities forecast this year’s operating profit in the generation segment at 146.2 billion won, a sharp increase from a year earlier, with an operating margin of about 14.8%. The construction business is expected to sustain stable growth as orders expand, led by semiconductor and pharmaceutical-bio projects. Ahn also pointed to the data center business as a mid- to long-term growth driver. He said annual profit of about 100.0 billion won is expected from data center leasing income starting in 2028. The plan calls for a total capacity of 300 megawatts, and the operating timeline for the first 40 megawatts has been confirmed. He said demand is rising quickly as global companies expand AI investment in South Korea, and the second phase is expected to take shape between late this year and early next year. * This article has been translated by AI. 2026-04-22 08:15:18

Wall Street closes lower as U.S.-Iran talks uncertainty lifts oil prices U.S. stocks ended lower as uncertainty over follow-up U.S.-Iran talks outweighed better-than-expected earnings. Major indexes opened higher on corporate results, but sentiment cooled quickly as signs mounted that momentum for negotiations was weakening ahead of a cease-fire’s expiration. On April 21 (local time), the Dow Jones Industrial Average fell 293.18 points, or 0.59%, to 49,149.38. The S&P 500 dropped 45.13 points, or 0.63%, to 7,064.01, and the Nasdaq slid 144.43 points, or 0.59%, to 24,259.96. Energy shares held up relatively well on rising crude prices, but the broader market was pressured by Middle East risks. The main driver was concern that talks could be delayed. Reuters reported that Iran said it could discuss matters with the United States in Pakistan only if Washington drops what Tehran described as pressure and threats, and that negotiations would be difficult if those conditions are not met. Reports that the Pakistan meeting schedule was in doubt and that U.S. Vice President JD Vance’s trip was uncertain added to worries that tensions could rise again after the cease-fire ends. Oil prices jumped. Brent crude rose 3.14% to $98.48 a barrel, and U.S. benchmark West Texas Intermediate gained 2.81% to $92.13 a barrel, on renewed concerns about supply disruptions in the Middle East. Gold fell more than 2% as a stronger dollar and rising Treasury yields outweighed safe-haven demand. Investors also watched a Senate hearing for Kevin Warsh, a candidate to lead the Federal Reserve. Warsh said he would protect the Fed’s independence while also pointing to the need to overhaul the policy framework and communications. Treasury yields rose, and uncertainty over monetary policy returned to focus. After the close, another development emerged. President Donald Trump said he would extend the cease-fire until Iran’s leadership presents a unified proposal. The statement came from the U.S. side, and Iran did not immediately respond, limiting any immediate easing of market anxiety.* This article has been translated by AI. 2026-04-22 08:07:11

Seoul Tourism Foundation Partners With LAFC to Boost Global Marketing Seoul Tourism Foundation has partnered with Los Angeles FC, a leading club in Major League Soccer, as it steps up global marketing tied to sports content. The foundation said the effort is aimed at accelerating its push toward an era of 30 million inbound visitors to Seoul. The Seoul Tourism Foundation, led by CEO Gil Ki-yeon, said it signed an official partnership with LAFC on April 20 local time and has begun a full-scale campaign to strengthen the Seoul tourism brand. The collaboration was designed to use sports events with global fan bases to raise Seoul’s profile worldwide. ◆ “U.S. soccer fans hooked on jegichagi” ... ‘Seoul buzz’ at BMO Stadium Ahead of the signing, about 2,000 local fans attended LAFC’s Fan Fest on April 19 at BMO Stadium, the club’s home venue, the foundation said. It ran hands-on challenge events meant to showcase Seoul’s energy. Activities included a “Seoul Heading Challenge” featuring step-by-step height targets modeled on Seoul landmarks such as Gyeongbokgung Palace and the Dongdaemun Design Plaza, and a “Seoul Jegichagi Challenge” that blended soccer juggling skills with the traditional Korean kicking game. The jegichagi zone drew long lines as fans repeatedly tried again after finding it harder than expected. The foundation also offered hanbok try-ons and operated a photo zone featuring Haechi, a signature Seoul character, to highlight a range of Korean cultural attractions. ◆ Apple TV broadcasts, Son Heung-min promo video ... Seoul to reach 100-plus countries The foundation said the partnership will expand marketing across digital and in-person channels. With LAFC matches carried via Apple TV to more than 100 countries, the “VISIT SEOUL” brand is being displayed to global soccer audiences through stadium outdoor boards and broadcast shots. In June, short Seoul tourism promotional videos featuring Son Heung-min and key LAFC players are set to be released on official social media channels. Starting on the 27th, the foundation will also give away limited-edition “Seoul X LAFC” posters at 20 locations, including tourist information centers and goods shops across Seoul, to strengthen online-offline synergy. “Hard-core sports fans are attractive potential tourists who are willing to invest time and money for the teams and players they support,” Gil said. “Building on this partnership, we will strengthen marketing cooperation so sports fans around the world recognize Seoul as a global tourism city they must visit.” 2026-04-22 08:06:19

Yongsan’s Hyochang Park Station redevelopment advances on floor-area incentives amid ‘cage apartment’ debate Debate over so-called “cage apartments” — criticism of high-density projects dominated by small units — is spreading to redevelopment plans around Hyochang Park Station in Seoul’s Yongsan district. Even so, projects in the area are moving ahead on the back of floor-area ratio incentives. According to the redevelopment industry on April 21, the promotion committee for a station-area, long-term jeonse housing (Shift) urban renewal-type redevelopment project near 82-1 Wonhyo-ro 1-ga will hold an on-site briefing on April 23 to select a design firm. The plan was finalized last month after passing the Seoul Metropolitan Government’s City Planning Commission. It expands the project to 2,743 homes, including 553 long-term jeonse units and 210 redevelopment rental units. The area applied for a public redevelopment program in 2020 but failed to meet the aging-building criteria. It was selected in 2021 for Seoul’s “Shift Season 2” program. In exchange for supplying some homes as long-term jeonse units priced at about 80% of market levels, the project can receive a floor-area ratio close to 500%. Some residents say high-density construction could worsen living conditions and have raised the “cage apartment” issue. In the neighborhood, several villa households displayed placards claiming the rental share would exceed 40%. A nearby real estate agent said owners with larger land shares and existing rental income are more likely to oppose the plan out of concern that profits could fall after redevelopment. The promotion committee rejected that claim, saying the rental share is “about 29%.” It said rentals currently account for 23% by area and could drop to the low 20% range if eased base floor-area ratio benefits are applied. The committee added that support already exceeded 70% when it received approval as a promotion committee and said the project faces no obstacles. It aims to obtain approval to establish the association in September and select a builder by the end of the year. Disputes over rental ratios and project profitability are spreading more broadly. Around Hyochang Park Station, multiple redevelopment models — including Moa Town, station-area Shift and the urban public housing complex project — are being pursued at the same time, fueling conflicts of interest depending on the approach. The Hyochang-dong 5-307 area has also adopted the station-area long-term jeonse housing urban renewal-type redevelopment model. With the designation of the redevelopment zone and public notice of the plan issued on April 16, the project is moving forward. It calls for 2,993 homes, including 450 redevelopment rental units and 743 long-term jeonse units. Of the total, 1,941 units would be in the 40 to 60 square meter range, reflecting a high-density approach. Near Exit 5 of Hyochang Park Station on Subway Line 6, the Yongmun-dong 1-126 area is facing internal conflict over whether to proceed under a public-led model or switch to a private approach. Amid the dispute, some have claimed opposition stands at 37%. The area was selected in 2022 as an eighth-round candidate site for the urban complex project. To be designated as a main project zone, it must secure consent from at least two-thirds, or 66.7%, of landowners. Under the urban complex project, the Korea Land and Housing Corp., or LH, becomes the project operator. Incentives include higher floor-area ratios and reduced burdens for public contributions, while 20% to 30% of the homes are used as public housing. That differs from the privately proposed station-area Shift program. Elsewhere, in the Hyochang-dong 5-291 area, organizers are collecting consent forms to participate in the urban public housing complex project. A preparatory committee said that under Season 2, rules for the station-area type were revised — including allowing floor-area ratios up to 1.4 times the legal cap — so the economics are not weaker than private redevelopment. 2026-04-22 07:55:44

Paradise Credit Rating Raised to A+ on Strong Results and Hotel Expansion Plans Paradise has been building stronger credibility in capital markets on steady earnings and early investment, industry officials said. According to the industry on the 22nd, Korea Investors Service upgraded Paradise’s corporate bond rating at its eighth review to A+ (stable) from A (positive). NICE Investors Service also reaffirmed the A+ (stable) rating it assigned in October last year, again citing the company’s solid financial health. ◆ Casino demand, hotel deals seen supporting stronger results The upgrade was attributed to improved performance from rising casino customer demand, expectations for revenue growth through hotel acquisitions and new hotel construction, and expanded investment supported by financial stability. Paradise posted 1.1499 trillion won in revenue last year, up 7.3% from a year earlier. The company’s growth was driven by higher drop amounts from Japanese VIP and mass-market customers, the evaluators said. They also pointed to the acquisition of the Grand Hyatt Incheon West Tower, a 501-room property, as a key investment expected to help sustain revenue growth. ◆ Debt ratio at 84.4% despite investment push Despite large-scale investment, Paradise has maintained strong financial indicators. Borrowing is expected to rise due to new projects, including development of a flagship hotel in Jangchung-dong, Seoul, but annual operating cash flow of about 200 billion won is supporting the funding needs. As of 2025, net debt fell 61 billion won from the end of the previous year to 377.3 billion won. The debt ratio stood at 84.4%, and the borrowing dependency ratio was 29.5%, levels the agencies described as reflecting a very stable financial structure. NICE Investors Service cited continued performance centered on the integrated resort Paradise City and stronger customer-attraction capacity from new hotel acquisitions. It said capital expenditures and working-capital burdens were manageable relative to cash generation. A Paradise official said the market had given the company a high assessment of its business performance and future value. The official said Paradise would use the higher credit standing to strengthen its financing competitiveness and contribute to the development of South Korea’s tourism industry. 2026-04-22 07:52:20