LG Unveils Europe-Only Built-In Appliance Package to Target 40% Share of Global Market LG Electronics is rolling out a built-in appliance package designed specifically for Europe as it steps up efforts to compete in the world’s largest built-in market. LG said Thursday it unveiled the “LG Built-in Package” for the first time at EuroCucina, the kitchen appliances and furniture exhibition held as part of Milan Design Week 2026 in Milan, Italy, running from local time April 20-26. Europe has been a hub for built-in kitchens since the concept spread from Frankfurt, Germany, in the 1920s. Market researcher Euromonitor estimates the global built-in appliance market at about $64.5 billion last year, with Europe accounting for roughly 40%. The new package combines an oven, induction cooktop, refrigerator and dishwasher into an integrated kitchen solution. LG said customers can maintain a consistent look tailored to their kitchen layout and preferences, and can also replace units in stages when moving or remodeling. The lineup was designed for European housing conditions. LG said it expanded its range of products in the 20-inch class for smaller kitchens and strengthened hinge and heat-dissipation technologies. It also applied a “seamless design” that minimizes gaps between appliances and cabinetry and reduces protruding parts. LG also highlighted energy efficiency and smart features. The dishwasher includes an “AI SenseClean” function that analyzes soil levels and adjusts wash settings. The refrigerator uses “AI Fresh” to adjust temperature based on usage patterns. LG said the dishwasher and refrigerator deliver energy efficiency 30% and 10% higher, respectively, than Europe’s top A rating. LG said it will pursue a “dual-track” strategy in Europe by offering both its ultra-premium built-in brand SKS and the new package. The company plans to expand its 30-inch-and-larger SKS lineup in Europe to broaden premium options. LG also said it will strengthen its business-to-business push targeting luxury home builders and multi-family housing developers. During the exhibition, it plans cooking shows and wine-tasting programs and will also take part in Fuorisalone events across Milan to raise brand awareness. “By offering built-in solutions optimized for European living spaces and lifestyles, we will further strengthen our position in the premium market,” said Baek Seung-tae, vice president and head of LG’s HS Business Division.* This article has been translated by AI. 2026-04-23 10:28:28

Korea Fines Six Paper Makers 338.3 Billion Won for Alleged Price-Fixing, Orders Price Reset Joo Byung-ki, chair of the Fair Trade Commission, said Wednesday the agency decided to impose a combined 338.3 billion won in administrative fines on six paper makers for collusion, file corporate complaints and order the companies to reset prices. Speaking at a meeting of ministers on special management of consumer prices at the Government Complex Seoul, Joo said leading domestic paper companies including Hansol Paper and Moorim secretly agreed on prices for printing paper used widely in education, publishing and other everyday areas. He said the conduct lasted 3 years and 10 months starting in 2021. Joo called it an unfair practice that sought to respond to industry headwinds — including a shrinking printing-paper market and low profitability — not through productive competition but by shifting harm to consumers and other market participants. He said the FTC will continue monitoring and guidance until prices distorted by collusion return to normal levels, including through the price-reset order. Joo also signaled tougher steps against repeat offenders, including sanctions severe enough to push companies out of the market. He said the government plans to revise relevant laws to strengthen penalties by expanding surcharge increases for repeat cartels and reducing leniency for voluntary reporting. He added the FTC is considering a system to order the dismissal or suspension of executives who led collusion. He said the agency is also reviewing strong structural remedies — including corporate breakups, share sales and business divestitures — to eradicate serious unfair practices such as cartels. Joo said the government will pursue legal and institutional changes, in consultation with relevant ministries, to meaningfully restrict repeat cartel participants from market activity. He added the FTC is considering expanding to other industries a system used in construction and real estate that cancels registrations or permits for repeat collusion participants.* This article has been translated by AI. 2026-04-23 10:23:47

Lotte Hotel & Resort Joins Earth Day Lights-Out Campaign Across 24 Sites in South Korea Lotte Hotel & Resort said Wednesday it completed a nationwide lights-out campaign Tuesday to mark Earth Day, with its chain properties taking part at the same time. Earth Day is a global environmental observance established in 1970 to highlight the seriousness of pollution. In South Korea, major public agencies and facilities hold annual events that switch off lights for 10 minutes. The company ran the campaign under the slogan “Magical 10 Minutes.” It said 24 domestic chain hotels, resorts and golf courses participated, including Signiel Seoul and Signiel Busan. From 8 p.m., each site turned off exterior landscape lighting for 10 minutes and reduced lighting levels in shared areas such as lobbies and restaurants to save energy. The company said guests also voluntarily switched off room lights, joining what it described as value-based consumption and environmental protection efforts. An online promotion will continue through Wednesday on the company’s official Instagram account, featuring a photo-verification event for participation in the lights-out campaign or a quiz entry. Winners will be selected by drawing to receive an Emissary.73 Enriching Travel Kit or goods featuring the company’s character, “LUA.” Winners will be notified individually on April 30. Lotte Hotel & Resort also cited recognition for its environmental, social and governance, or ESG, performance. It said that in November last year, it ranked No. 1 for a sixth straight year in the hotel category at the “2025 Korea Sustainability Conference” hosted by the Korean Standards Association. 2026-04-23 10:23:05

Justice Ministry Rejects Reports Challenging Lee Jae-myung’s Remarks on Criminal Records South Korea’s Justice Ministry on Wednesday rejected what it called “fake news” reports disputing President Lee Jae-myung’s recent remarks about criminal records, saying the figures cited in the coverage were being misread. The National Assembly Research Service also said it is not possible to calculate a single, official total of people with criminal records or make reliable cross-country comparisons. The ministry said some outlets reported that Lee’s comments were untrue, citing a reply from the research service that referenced U.N. Office on Drugs and Crime data. The coverage said the number of people convicted in South Korea in 2022 was about 384 per 100,000 residents. The Justice Ministry countered with different figures from the Supreme Court’s “2023 Judicial Yearbook,” saying about 750,000 people were convicted in 2022 — about 1,460 per 100,000 residents. The ministry stressed that the number reflects annual convictions and “is not appropriate” to interpret as the total number of people with criminal records. It said “people convicted in a given year” and “people with criminal records” are different concepts, because a yearly conviction count does not represent the accumulated number of people with prior criminal punishment histories. In a separate clarification released the same day, the National Assembly Research Service said it did not provide any reply stating South Korea’s total number or share of people with criminal records, or data comparing such figures across countries. It said definitions and scope vary by country, making comparisons difficult, and that it is hard to find official domestic statistics showing a cumulative total. The research service added that UNODC statistics also count newly convicted people each year and have limits for direct comparisons because legal systems and punishment standards differ. It said its reply was not intended to judge whether the president’s remarks were true or false. The dispute stems from Lee’s comments at a Cabinet meeting on April 14, when he said, “Most people have a criminal record,” while criticizing what he described as overuse of criminal punishment. He said the principle of legality had “effectively collapsed.” The government has since been pursuing an “economic penalties rationalization plan” to overhaul more than 1,000 laws that include criminal penalties. The plan would shift simple administrative violations or minor legal breaches to financial sanctions such as fines and penalty surcharges, and limit criminal punishment to cases where it is necessary. As examples, the government is raising the cap on penalty surcharges for telecommunications operators that restrict contract cancellations from 1 billion won to 5 billion won, and reviewing a plan to impose penalty surcharges directly on parties involved in illegal loans by major bank shareholders. At the same time, it is moving to ease some criminal punishment provisions or convert them to administrative sanctions. Political sparring has continued. The People Power Party condemned Lee’s remarks as “outrageous,” saying he smeared the public as criminals. The government says Lee was raising concerns to improve a sanctions system centered on criminal punishment. The Justice Ministry and the National Assembly Research Service both emphasized that producing a single figure for the number of people with criminal records — or comparing such totals across countries — is not realistically possible. * This article has been translated by AI. 2026-04-23 10:21:56

Kakao Speeds Global Push With KakaoBank and KakaoPay, Linking AI and Payments Kakao Group is accelerating its global push by leaning on its financial affiliates as it moves to execute its next-generation finance strategy. Kakao said Wednesday that KakaoBank and KakaoPay are splitting roles overseas to strengthen the group’s financial competitiveness. The effort follows the “global fandom OS” strategy Jeong outlined earlier this year. The plan aims to expand Kakao’s global user base by combining agent artificial intelligence, entertainment intellectual property and Web3 technology. In finance, Kakao has positioned AI-driven services and the buildout of global payment infrastructure as key pillars. KakaoBank is exporting its digital finance model, focusing on Southeast Asia and Central Asia. In Indonesia, it entered the market by investing in the digital bank Superbank in partnership with Grab. In Thailand, it is working with a local partner to establish a virtual bank. More recently, it has teamed with Mongolia’s MCS Group to invest in the digital bank M Bank and to upgrade credit-scoring models, part of a broader push to spread an inclusive finance model globally. KakaoPay is expanding payment infrastructure overseas to speed its shift into a “global pay” platform. After rolling out QR payments, it introduced NFC payments to enable use at major merchants worldwide, and it is focusing on providing the same user experience abroad as in South Korea. It is also covering payments by foreign visitors in South Korea, strengthening a two-way payments ecosystem. KakaoPay recently joined the x402 Foundation, led by the Linux Foundation, to help build next-generation payment standards. It is also expanding points of contact with Circle, a global stablecoin company, as it explores ways to broaden a digital asset-based financial ecosystem. Kakao said its integrated approach across banking, payments and platforms is accelerating work on a new model that links AI, finance and payments. The company said that if “agentic finance,” in which AI takes part in financial decision-making, is combined with global payment infrastructure, changes to the existing structure of the financial industry could follow. 2026-04-23 10:21:06

SK hynix to Use 1c-Nanometer Process for HBM4E, Targets 2027 Mass Production SK hynix said it will apply its 1c-nanometer process to next-generation high-bandwidth memory, HBM4E, to strengthen performance competitiveness. In a conference call held after its first-quarter earnings release on the 23rd, the company said HBM4E is being developed in close consultation with customers, with sample shipments targeted for the second half of the year and mass production aimed for 2027. It added that it plans to apply the 1c-nanometer process to the core die to meet customer performance requirements. SK hynix also underscored the maturity of the process. The company said the 1c-nanometer node entered mass production in late 2025 and has already proven its performance in the market, with yields and production capability reaching stable levels. It said it will continue its technology leadership by ensuring on-time development, stable mass production and high quality through additional in-house technology work and customer validation.* This article has been translated by AI. 2026-04-23 10:17:49

Samsung C&T’s Homeniq Expands Smart-Home Partnership With Seohae General Construction Samsung C&T Corp.’s construction unit said its home-platform service, Homeniq, will expand smart-housing technology cooperation with Seohae General Construction. Samsung C&T said it signed a business agreement with Seohae on the 22nd in Seoul’s Seocho District to build “Seohae Granble by Homeniq.” Under the deal, Homeniq services will be offered first to residents of a new Seohae Granble complex in Wangil-dong, Incheon, scheduled to go on sale in June. Residents will be able to use functions including home IoT controls, reservations for community facilities, notices and maintenance-fee inquiries, visitor vehicle reservations, energy management, resident community features and shopping. The companies said they plan to continue technology exchanges across smart-housing solutions, including Homeniq, an AI-based parking service, measures to reduce inter-floor noise and an integrated energy monitoring system. Samsung C&T said it aims to broaden its home-platform ecosystem and strengthen competitiveness in housing services. Seohae General Construction develops housing complexes centered on its apartment brand Seohae Granble and its mixed-use and residential officetel brand Seohae Sky Palace. It also operates Jeju’s Arden Hill Resort and the St. John’s Hotel in Gangneung. Samsung C&T said it is expanding cooperation beyond its Raemian complexes, working with 15 builders including SK ecoplant, Hanwha Construction, Doosan Engineering & Construction, HS Hwasung, Woomi Construction, Hoban Construction and SM Group’s construction unit. The company described the Seohae agreement as part of Homeniq’s broader expansion.* This article has been translated by AI. 2026-04-23 10:17:06

NH NongHyup Financial Targets Seniors With 21 New Products and 100 Service Hubs NH NongHyup Financial Group is stepping up a companywide push to win senior customers, who account for more than half of its client base. The group plans to roll out 21 senior-focused products in stages and build about 100 regional senior hubs by using what it calls the country’s largest offline branch network. As major banks shrink their branch footprints, NongHyup Financial aims to use its nationwide network—reaching from city centers to remote mountain areas—to better serve seniors in underserved financial areas. According to the financial industry on the 23rd, NongHyup Financial plans to sequentially launch 21 senior-only products this year built around three themes: “health,” “assets” and “daily life.” The expansion builds on “NH All One Wonderful,” a senior-focused brand introduced in November. The group said it is tailoring solutions to issues it sees among customers preparing for a second chapter of life, including money, health and loneliness. In the second quarter, it plans to release three protection-type products, including the nonlife “Proper Treatment and 365 Caregiver Insurance” and the life “Long-Term Care Peace-of-Mind Caregiver Insurance.” NH NongHyup Bank plans to introduce “Youth Loan,” while NongHyup Capital will offer a “Senior Small Loan.” The group said it is also developing products and services to support stable cash flow after retirement. It is reviewing a reverse mortgage product and plans to add a senior re-employment linkage service to the “NH All One Bank” app. The strategy reflects the group’s customer mix. NongHyup Financial has about 12 million senior customers, more than 55% of its total. It believes its nationwide network—spanning financial affiliates as well as nonfinancial units such as supermarkets, gas stations and parcel delivery—can broaden access for seniors in smaller cities and rural and fishing communities. Local NongHyup cooperatives operate 4,894 main and branch offices, more than KB Kookmin Bank (771), Shinhan Bank (650), Hana Bank (608) and Woori Bank (656). The group views its branch count as a competitive advantage for attracting seniors and improving satisfaction, and said it could also support the government’s push for balanced regional development. NongHyup Financial is also overhauling its sales channels. In June, NH NongHyup Bank plans to set up “NH All One Wonderful Retirement Planning Consultation Desks” at 100 wealth management-focused branches nationwide. The bank plans to create senior-friendly spaces by region that combine financial counseling with links to farm experiences and cultural classes. A premium consultation area for high-net-worth senior clients will also be created inside the bank’s Royal Chamber. Nonbank affiliates are moving to expand in-person touchpoints as well. NongHyup Life Insurance and NongHyup Savings Bank plan to introduce senior-only counters in the second and third quarters, respectively, to improve offline access. A NongHyup Financial official said the group is pursuing 22 strategic tasks under seven pillars for its senior business strategy—covering customers, products and services, channels, organization, innovation, partnerships and brand. “We will go beyond simply selling financial products and present a new service model that combines finance and care,” the official said. 2026-04-23 10:16:15

Elysian Gangchon to Hold Children’s Day Festival on May 4 Gangwon Province’s Elysian Gangchon resort in Chuncheon will host a Children’s Day holiday festival on May 4, offering family-oriented performances, hands-on activities and prize giveaways. Elysian Gangchon said April 23 it will stage a “Children’s Day Kids Festival” across the resort, featuring stage shows, interactive experience programs and a flea market. The main performance lineup will include a magic show, bubble show and balloon art. Shows are scheduled in two sessions: the first runs for one hour starting at 11 a.m., and the second begins at 2:30 p.m. An activity zone will operate continuously from 11 a.m. to 4 p.m., with face painting and craft programs such as making a personal fan, tumbler or eco-bag, along with forest-themed crafts. The resort will also run on-site, customer-participation prize events, offering two room vouchers, three glamping vouchers, 10 swimming pool admission tickets and 10 Arabista iced Americano coupons. “We carefully prepared hands-on content where parents and children can connect and laugh together in nature for Children’s Day,” a resort official said. “We hope a day at Elysian Gangchon will be remembered as a special gift for the whole family.” The festival is open to visitors without advance reservations, though some popular programs may close early depending on on-site conditions. 2026-04-23 10:13:50

Trump Envoy Suggests Italy Replace Iran in 2026 World Cup, FT Reports Donald Trump’s envoy has suggested to FIFA that Italy take Iran’s place at the 2026 World Cup in North America, according to foreign media reports. The proposal appears to be only a suggestion by a U.S. figure, and it is not known whether FIFA has formally considered it. The Financial Times reported Tuesday (local time) that Trump envoy Paolo Zampolli proposed to President Trump and FIFA President Gianni Infantino that “Italy should be put in the World Cup instead of Iran.” Zampolli told the FT, “I’m Italian, and I want to see the Azzurri at a tournament hosted by the United States,” adding that Italy is “a team worthy of four World Cup titles.” The FT said the idea also appeared aimed at repairing ties between Trump and Italian Prime Minister Giorgia Meloni. Reuters, citing the FT, reported the two had fallen out over the Iran war and Trump’s criticism of Pope Leo XIV. The chances of the proposal being adopted remain unclear. Reuters said the White House, FIFA, the Italian Football Federation (FIGC) and the Football Federation Islamic Republic of Iran (FFIRI) did not immediately respond to questions. Iran, meanwhile, reiterated it is ready to participate. The FT reported Iran issued a statement Tuesday reaffirming its intention to play, and Anadolu Agency said an Iranian government spokesperson told state broadcaster IRIB, “We have completed the necessary preparations.” Infantino has also treated Iran’s participation as a given. In a CNBC interview, he said, “Iran must come,” adding that “sport must be outside politics.” Iran is scheduled to play three group-stage matches in the United States. It previously discussed with FIFA moving the venue to Mexico instead of the United States, but that was not accepted. Italy has not qualified. Last month, it lost 4-1 on penalties to Bosnia and Herzegovina in a playoff final, missing the World Cup finals for a third straight time.* This article has been translated by AI. 2026-04-23 10:13:17