Pakistan PM Welcomes U.S. Extension of Iran Ceasefire, Hopes for Peace Deal in Second Talks Shehbaz Sharif, Pakistan’s prime minister, welcomed the United States’ announcement extending a ceasefire with Iran and voiced hope for progress in follow-up talks. In a post Monday on X, Sharif thanked U.S. President Donald Trump for accepting Pakistan’s request to extend the ceasefire. He said he hoped both sides would continue to observe the truce and reach a comprehensive peace agreement in a second round of talks planned in Islamabad to permanently end the conflict. Pakistan’s government has taken the same line. In a briefing April 16, the Foreign Ministry said Pakistan’s diplomatic efforts led to the U.S.-Iran ceasefire and the resumption of negotiations. It said it was important for both sides to keep their ceasefire commitments and that Pakistan would continue to support dialogue and talks. Pakistan mediated the first round of talks in Islamabad on April 11-12, hosting delegations led by U.S. Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Ghalibaf. The latest statements did not amount to a confirmed end to the war. While the United States announced an extension of the ceasefire, Iran has maintained that lifting a maritime blockade and ending pressure must come first. Sharif’s message was seen less as a declaration of an end to hostilities than a reaffirmation that Pakistan intends to keep the mediation framework in place, secure a second round of talks and link it to a final agreement.* This article has been translated by AI. 2026-04-22 09:52:00

Korea's Hanwha expands partnership with Alberta for submarine bid in Canada SEOUL, April 22 (AJP) -South Korea's Hanwha Group pitching for a $40 billion submarine program in Canada is widening its support base across the North American country to win favor against its European competition. Hanwha Group is expanding cooperation with the Canadian province of Alberta across key industries including energy, defense and shipbuilding as it seeks to broaden local industrial partnerships and economic cooperation tied to Hanwha Ocean’s bid for Canada’s Canadian Patrol Submarine Project, or CPSP. The group signed a memorandum of understanding with the Alberta government Tuesday (local time) at the provincial government building in Edmonton. Attendees included Alberta Premier Danielle Smith, Economic Development and Trade Minister Joseph Schow, South Korean Ambassador to Canada Lim Ki-mo and Hanwha Energy CEO Lee Jae-kyu. The two sides agreed to pursue mid- to long-term investment and build an industrial ecosystem in Alberta beyond individual projects. Hanwha Energy, Hanwha Ocean, Hanwha Aerospace and Hanwha Power will take part, expanding cooperation in oil, liquefied natural gas, hydrogen, carbon capture and storage, and defense and shipbuilding supply chains. Hanwha said the MOU focuses on a low-carbon energy transition, industrial growth and stronger supply-chain stability. In the near term, the sides plan to expand trade in resources such as natural gas. Over the mid to long term, they aim to broaden cooperation to hydrogen- and ammonia-based clean energy and carbon-management infrastructure. Hanwha also said it will support efforts aligned with Canada’s Defense Industrial Strategy, including strengthening domestic industrial capabilities, maintenance and operations capacity, and building a regional defense ecosystem. Alberta is attracting about $6.5 million in investment from the federal government as it grows into a defense manufacturing hub. Smith said, “Alberta is a global business hub, and this agreement with Hanwha Group shows our competitiveness as a destination for international investment.” Lee said, “This MOU has elevated our cooperative relationship with Alberta by another step,” adding, “We will bring together the group’s capabilities to deliver tangible results across a range of areas.” Hanwha has been mounting a groupwide push to win the Canadian submarine project, expanding its outreach beyond inland industrial bases to key maritime hubs. Earlier, Hanwha Ocean CEO Kim Hee-cheol visited Halifax on April 14 and discussed defense and industrial cooperation with officials from Nova Scotia. Halifax is a strategic center of the country’s naval industry. The talks covered defense readiness, maintenance, repair and overhaul (MRO) capabilities, workforce development and industrial infrastructure, as Hanwha Ocean shared its long-term strategy for the project. The local partnership is part of Hanwha Ocean’s strategy to shorten delivery timelines and strengthen localization as it competes with Germany’s ThyssenKrupp Marine Systems (TKMS) in the final stage of the bid. The company has also partnered with five Canadian firms — OSI Maritime Systems, EMCS Industries, Techsol Marine, Jastram Technologies and Curtiss-Wright — to reinforce its local industrial base. Such localization efforts are seen as critical, as Canada places strong emphasis on domestic industrial and economic contributions in major defense procurement programs. Canada’s CPSP involves the procurement of up to 12 diesel-electric submarines of around 3,000 tons. The contract value alone is estimated at $13.5 billion, with the total project size, including 30 years of MRO, potentially reaching $40 billion. A consortium of Hanwha Ocean and HD Hyundai Heavy Industries is competing against Germany’s ThyssenKrupp Marine Systems, with a final decision expected around June. 2026-04-22 09:51:46

South Korean Won Opens Sharply Lower as U.S.-Iran Talks Stall, Oil Jumps The South Korean won opened sharply weaker against the U.S. dollar on Tuesday as uncertainty over a second round of U.S.-Iran cease-fire talks pushed oil prices higher and boosted demand for safe-haven assets. As of 9:10 a.m. in Seoul, the won was trading at 1,477.4 per dollar. It opened at 1,479.5, up 11.0 won from the previous session’s close. Markets have refocused on the risk of supply disruptions as doubts grow over whether the two sides can even hold a second round of talks, with the cease-fire set to expire in a day, the report said. Overnight, Brent crude futures for June delivery settled at $98.48 a barrel, up 3.14% from the previous session. U.S. West Texas Intermediate for June rose 2.57% to $89.67 a barrel. U.S. stocks also fell. The Dow Jones Industrial Average closed down 293.18 points, or 0.59%, at 49,149.38. The S&P 500 dropped 45.13 points, or 0.63%, to 7,064.01, and the Nasdaq fell 144.43 points, or 0.59%, to 24,259.96. Min Kyeong-won, an economist at Woori Bank, said the exchange rate was likely to rise as investors focus less on a cease-fire extension and more on concerns that failed negotiations could prolong the closure of the Strait of Hormuz. He said President Donald Trump has said the cease-fire would be extended until talks with Iran conclude, but worries about disruptions to global crude supply have resurfaced because a Pakistan meeting was called off and the Strait of Hormuz remains blocked.* This article has been translated by AI. 2026-04-22 09:51:16

BMW Renovates Suncheon Showroom and Service Center BMW Korea said Tuesday that its official dealer, Kolon Motors, has renovated the BMW Suncheon showroom and service center. The facility in Seomyeon, Suncheon, South Jeolla Province, is a three-story building with one basement level and a total floor area of 4,016.9 square meters. Customers can handle vehicle purchases, maintenance and accident repairs in one place. The renovation applies BMW Group’s latest space concept, “Retail Next,” reorganizing customer flow and improving comfort. The second-floor showroom displays six of BMW’s latest models. A new lounge-style handover zone for customers was added on the first floor. The service center also expanded its paint booth to strengthen accident-repair capacity. A Kolon Motors official said the showroom, service center and handover zone are now connected in a single space, allowing customers to experience consistent premium service.* This article has been translated by AI. 2026-04-22 09:48:08

South Korea Orders Recalls of 532,144 Vehicles Including Hyundai Santa Fe, Kia Ray South Korea’s Ministry of Land, Infrastructure and Transport said Tuesday it will carry out voluntary corrective actions covering 532,144 vehicles across 17 models made or imported and sold by Hyundai Motor, Kia, KG Mobility and Toyota Motor Korea after manufacturing defects were confirmed. Hyundai will begin repairs June 4 for 239,683 vehicles across four models, including the Santa Fe Hybrid, Ioniq 6 and Genesis G90. The ministry said the front-seat seat belt anchorage design may be insufficient, raising the possibility it may not properly protect occupants in a crash. The issue matches a global recall in the United States covering 294,000 vehicles of the same four models. The ministry said Hyundai plans to start the recall after quickly producing reinforcement parts. Separately, 202 Hyundai Elec City double-decker buses are being repaired starting April 20 after a body design issue raised the possibility of cracks forming in the upper structure above the center door, which could affect safety. Kia will begin repairs April 28 for 220,059 Ray vehicles after shortcomings were found in the engine control unit software design, which could cause the engine to stall while driving. KG Mobility began corrective actions April 20 for 51,535 vehicles across six models, including the Torres, after a memory overload was found that could cause the instrument cluster display to freeze or shut off. Another 18,533 vehicles across two models, including the Torres EVX, also began repairs the same day after an investigation found the rear-collision warning light’s flashing cycle did not meet standards due to software design shortcomings. Toyota Motor Korea will begin repairs April 23 for 2,132 vehicles across three models, including the Prius two-wheel-drive version, after the rear-door outside handle circuit design was found to be insufficient, creating a risk the rear door could open while driving. Drivers can check whether their vehicles are affected and review specific defect details by entering a vehicle registration number or vehicle identification number on the Auto Recall Center website.* This article has been translated by AI. 2026-04-22 09:47:24

Kospi Briefly Tops 6,400 After Record High, Then Turns Choppy The Kospi swung between gains and losses early April 22 after touching the 6,400 level, as expectations for an improving semiconductor cycle and foreign inflows helped the benchmark set a fresh record high for the first time in about two months. According to the Korea Exchange, the Kospi was down 6.93 points, or 0.10%, at 6,382.80 as of 9:23 a.m. It opened lower at 6,387.57, then turned higher and climbed to 6,400.11 around 9:01 a.m. before turning choppy again. Overnight, U.S. stocks closed lower as uncertainty grew over a second round of talks between the United States and Iran. The Dow Jones Industrial Average fell 0.59%, while the S&P 500 and Nasdaq dropped 0.63% and 0.59%, respectively. Major tech shares were mixed, with Microsoft up 1.46% and Amazon up 0.66%, while Nvidia fell 1.08% and Tesla slid 1.55%. The Philadelphia Semiconductor Index rose 0.50%. The moves came as skepticism spread over renewed U.S.-Iran negotiations, weakening expectations for an end to the war, the report said. Investor sentiment also appeared to cool after comments by Kevin Warsh, a candidate for chair of the Federal Reserve, were interpreted as hawkish. Warsh said he would maintain the independence of monetary policy regardless of the president’s preference for rate cuts. “After Warsh’s remarks, U.S. stocks turned lower as selling emerged,” said Seo Sang-young, a researcher at Mirae Asset Securities. He said uncertainty increased after Warsh signaled a sweeping overhaul of the existing inflation framework and the adoption of new data standards. In Seoul, retail investors were net buyers of 991.9 billion won, while foreigners and institutions sold a net 314.0 billion won and 669.5 billion won, respectively, as they took profits. Among large-cap shares, Samsung Electronics rose 0.46%, LG Energy Solution gained 1.67% and Hanwha Aerospace added 1.87%. SK hynix fell 0.41%, Hyundai Motor dropped 1.10%, SK Square slid 1.81%, Doosan Enerbility lost 0.86%, Samsung Biologics dipped 0.25% and Kia fell 0.63%. By sector, electronics rose 0.17%, chemicals gained 0.52% and metals climbed 1.22%. Decliners included finance, down 1.20%, along with pharmaceuticals, machinery and equipment, IT services, retail, securities and insurance. The Kosdaq also opened lower. It started down 2.20 points, or 0.19%, at 1,176.83 and was trading down 6.20 points, or 0.53%, at 1,172.83. Retail investors were net buyers of 139.8 billion won on the Kosdaq, while foreigners and institutions were net sellers of 18.0 billion won and 60.5 billion won, respectively. Kosdaq heavyweights were mixed. EcoPro rose 0.92%, EcoPro BM gained 0.23% and LigaChem Bio added 1.03%. Alteogen fell 1.36%, Rainbow Robotics slipped 0.67%, Samchundang Pharm plunged 14.93%, Lino Industrial dropped 0.76%, ABL Bio fell 1.60%, Kolon TissueGene lost 2.06% and HLB slid 3.53%.* This article has been translated by AI. 2026-04-22 09:46:08

Travel Firms Counter Rising Fuel Surcharges With Reimbursements and Discounts Rising geopolitical risk in the Middle East has sent international oil prices swinging, pushing up airline fuel surcharges on tickets. With May fuel surcharges expected to climb as high as Level 33, travelers planning overseas trips face higher costs. Travel companies are responding with full reimbursements of surcharge increases and broad discount campaigns to keep demand from cooling. ◆ “We’ll pay back the increase”: Modetour launches April-only fuel reimbursement Modetour said it will fully cover May fuel-surcharge increases for customers who finalize reservations in April under a “fuel reimbursement” program. The move is aimed at easing additional costs that can rise after booking amid a strong-dollar, high-oil environment. The program applies to the first 1,000 customers who book eligible products for Japan, China and Southeast Asia. No separate application is required. The company will automatically pay the difference between the fuel surcharge at the time of reservation confirmation and at ticketing as tour mileage in the month after departure. The mileage is valid for five years. Modetour also expanded short-haul options, citing demand shifting to nearby destinations with lower overall costs. It created specialized categories for Southeast Asia; Japan; China/Hong Kong/Mongolia; and departures from Busan, Daegu and Cheongju. In April, reservation rates for China and Japan rose 16% and 2%, respectively, from a year earlier, the company said. ◆ NOL Universe ramps up “across-the-board price support” with daily coupons NOL Universe is also rolling out promotions to prevent customer drop-off as fuel surcharges rise, offering discounts across airfare and overseas lodging. Through Thursday the company will issue first-come, first-served 5% discount coupons each day at 10 a.m. for flights to Japan, China, Vietnam and Thailand. It is also offering an additional 10,000 won instant discount on all Japan and China routes, plus a 7% discount on overseas lodging reservations. The company will also run limited-time deals through its live commerce channel, “NOL Live.” At 11 a.m. on Monday, it plans a one-hour Asiana Airlines special, offering viewers additional discount coupons of up to 30,000 won. NOL Interpark Tour will issue first-come, first-served 10,000 won coupons for all international routes twice daily, at 10 a.m. and 2 p.m. Additional discounts of up to 10% will be available by route for payments made with major credit card companies, it said. ◆ High oil, strong dollar squeeze: Industry bets on direct savings With signs that geopolitical tensions in the Middle East could persist, travel companies face a tougher outlook. Fuel-surcharge increases combined with a strong exchange rate have sharply raised travelers’ perceived costs. In response, agencies are concentrating promotions on short-haul routes, where airfare burdens are typically lower than long-haul travel, and emphasizing simple, direct financial benefits to attract customers. Jeong Hui-yong, a department head in Modetour’s marketing business division, said the reimbursement program was designed as a “practical, benefits-focused promotion” to help customers choose products more confidently despite higher fuel surcharges. Park Jeong-hyeon, head of NOL Universe’s aviation business division, said the company would “reduce customers’ travel burden and support reasonable choices” through its broad price-support measures. 2026-04-22 09:43:20

Vietnamese Media Spotlight South Korean President Lee Jae-myung’s State Visit South Korean President Lee Jae-myung arrived in Hanoi on the evening of the 21st to begin his visit to Vietnam, drawing prominent play across major Vietnamese news sites. Vietnam News Agency (TTXVN), Thanh Niên, Tuổi Trẻ, Vietnam+ and VnEconomy all led their homepages with Lee’s arrival, reflecting strong local interest. Thanh Niên highlighted that the trip is Lee’s first state visit to Vietnam since taking office, and said he is the first foreign head of state to visit since Vietnam’s 16th National Assembly completed a leadership reshuffle. State-run TTXVN posted six photos of Lee and first lady Kim Hye-kyung arriving at Noi Bai airport and reported in detail on the welcoming officials, including Nguyen Minh Vu, first vice minister of foreign affairs; Vu Dai Thang, chairman of the Hanoi People’s Committee; and Vu Ho, Vietnam’s ambassador to South Korea. Vietnam+ detailed the makeup of Lee’s delegation, listing senior officials including Deputy Prime Minister Bae Kyung-hoon, who also serves as minister of science and ICT; Foreign Minister Cho Hyun; Industry Minister Kim Jung-kwan; and Land Minister Kim Yoon-deok, as well as Ha Jung-woo, senior secretary for AI future planning. The outlet also carried a biographical profile of Lee, saying he earned a law degree from Chung-Ang University, passed the bar exam in 1986, and later served as mayor of Seongnam, governor of Gyeonggi Province, a lawmaker and leader of the Democratic Party before becoming president. Tuổi Trẻ focused on the visit’s diplomatic significance. Citing an exclusive interview the previous day with Foreign Minister Cho Hyun, the outlet reported that “this meeting will be a historic milestone that strengthens the close relationship and trust between the two countries’ top leaders.” It also highlighted that Lee is accompanied by leading South Korean business chiefs, including SK Group Chairman Chey Tae-won, who also heads the Korea Chamber of Commerce and Industry; Samsung Electronics Chairman Lee Jae-yong; Hyundai Motor Group Chairman Chung Euisun; LG Group Chairman Koo Kwang-mo; HD Hyundai Vice Chairman Chung Ki-sun; and Hyosung Group Chairman Cho Hyun-joon. Business outlet VnEconomy gave the most extensive treatment to the visit’s economic implications, quoting Ambassador Vu Ho as calling it “a strategic anchor” for a new stage of bilateral ties. The outlet said South Korea is Vietnam’s largest foreign investor, with cumulative registered investment of about $85 billion to $90 billion, and estimated two-way trade last year at $90 billion to $95 billion. VnEconomy said a key agenda item is shifting cooperation from capital- and labor-dependent ties toward technology and innovation centered on semiconductors, artificial intelligence and advanced industries. Vu Ho was quoted as saying that if the two countries move “from economic cooperation to structured economic integration,” the goal of $150 billion in bilateral trade by 2030 is achievable. The outlet added that, with Vietnam set to host the Asia-Pacific Economic Cooperation summit next year on Phu Quoc, discussions are expected on strengthening cooperation with South Korea—which it said successfully hosted the APEC summit in Gyeongju last year—in the digital economy, green growth and sustainable supply chains.* This article has been translated by AI. 2026-04-22 09:42:21

Fresh uncertainty arises as Trump extends ceasefire with Iran indefinitely SEOUL, April 22 (AJP) - U.S. President Donald Trump on Tuesday extended a ceasefire with Iran indefinitely until Tehran submits a "unified proposal" to end the conflict in the Middle East, reversing a statement he made only hours earlier that there would be no extension. "We have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal," Trump wrote on his own platform Truth Social. "I have therefore directed our Military to continue the Blockade and, in all other respects, remain ready and able, and will therefore extend the Ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other," he added. The extension came at the last minute, as the two-week ceasefire was set to expire on Wednesday, just ahead of a planned trip by Vice President JD Vance to Islamabad, Pakistan, for another round of talks that was put on hold after Iranian negotiators said they would not attend. Uncertainty now further surrounds whether and when a new round of talks between Washington and Tehran will resume, though Trump who may want to quickly pull out of the conflict while saving face, remained optimistic that Washington would "end up with a great deal" with Iran. "I think they have no choice. We've taken out their navy, we've taken out their air force, we’ve taken out their leaders, frankly, which does complicate things in one way. But these leaders are much more rational," he said. 2026-04-22 09:40:45

Kakao Pay Insurance Revamps Policy for Elementary and Middle School Students Kakao Pay Insurance has revamped an insurance product for elementary and middle school students, strengthening coverage for risks tied to school life. The company said Tuesday it revised its “non-dividend elementary and middle school student insurance,” simplifying benefits and improving practicality. It reorganized the plan from seven basic coverages and five packages into six core coverages and two packages to make enrollment easier. The revision adds expanded protection related to school violence and legal disputes. It provides up to 1 million won in treatment costs for victims of school violence and up to 20 million won in civil lawsuit legal fees, broadening coverage from medical care to dispute response. The six core coverages are emergency room visit costs, school violence victim coverage, civil lawsuit legal fees, fracture diagnosis benefits, treatment costs for injuries from car accidents, and hospitalization benefits for traffic injuries. The product also offers 23 disease- and injury-related riders, covering illnesses such as influenza and pneumonia and accidents such as fractures and burns. The plan comes in a basic option and a more comprehensive option, and customers can also tailor coverage by selecting only the riders they need. A company official said the changes reflect risks that occur in school life and strengthen practical protection.* This article has been translated by AI. 2026-04-22 09:37:45