South Korea posts record exports in April as semiconductor shipments soar SEOUL, April 21 (AJP) - South Korea's exports jumped sharply in the first 20 days of this month, driven largely by strong global demand for semiconductors, according to figures released by the Korea Customs Service on Tuesday. Outbound shipments surged to US$50.4 billion between April 1 and 20, up 49.4 percent from a year earlier, the highest level ever recorded for the period and surpassing the previous record of $36.4 billion in 2022. Imports also increased 17.7 percent during the same period to $39.9 billion, resulting in a trade surplus of $10.4 billion. The surge was largely attributed to exports of semiconductor chips, with shipments soaring 182.5 percent to $18.3 billion. Exports of computers and related equipment rose even more sharply, jumping nearly 400 percent to $2.2 billion. Exports of petroleum-related goods also increased 48.4 percent to $3.2 billion. However, not all industries performed well, as exports of automobiles fell 14.1 percent to $3.1 billion and auto parts dropped 8.8 percent to $1.1 billion. Overseas shipments increased overall, with Viet Nam up 79.2 percent, followed by Taiwan (77.1 percent), China (70.9 percent), the U.S. (51.7 percent), and the European Union (10.5 percent). Imports of crude oil rose 13.1 percent to $4.8 billion, marking a third consecutive monthly increase after $4.3 billion in January, $4.4 billion in February, and $4.6 billion in March, reflecting rising global oil prices due to the prolonged conflict in the Middle East. 2026-04-21 11:21:16

Hanwha partners US firm to build unmanned surface vessels for Pentagon SEOUL, April 21 (AJP) - Hanwha Group has partnered with U.S.-based Magnet Defense to jointly develop and produce unmanned surface vessels (USVs) for the U.S. military, the company said. Hanwha Defense USA announced on Monday that it signed a strategic partnership with Magnet Defense at the 2026 Sea-Air-Space exposition held in National Harbor, Maryland. The agreement covers multiple projects, including the joint construction of a 38-meter medium unmanned surface vessel (MUSV) known as the H38. Under the partnership, the H38 will be developed based on Magnet Defense’s flagship M48 model, incorporating Hanwha’s advanced technologies. The M48, the basis for the joint development, has one of the longest operational ranges among USVs in service at 17,000 nautical miles. The vessel has undergone extensive real-world validation, completing a total of 32,000 nautical miles of operations, including a round-trip voyage from Miami to American Samoa in 2024, a transit through the Panama Canal and navigation in extreme weather conditions rated at Sea State 9. Mark Bell, CEO of Magnet Defense, said the combination of Hanwha’s advanced missile systems and Magnet Defense’s USV design and manufacturing capabilities would generate strong synergies. Michael Coulter, CEO of Hanwha Defense USA, said, “Hanwha is committed to deploying highly capable and lethal unmanned surface vessels to support U.S. forces and allies in times of conflict,” adding, “We will integrate Hanwha’s manufacturing capabilities and advanced robotics technologies with Magnet Defense’s proven autonomous navigation systems.” The partnership comes as the U.S. Navy has signaled its intent to acquire unmanned surface vessels to meet evolving operational requirements. The two sides also agreed to cooperate on AI-based robotic shipyards and artificial intelligence software development. 2026-04-21 11:17:25

Yuhan, Huino Begin Commercial Rollout of AI Telemetry System MemoCue Yuhan Corp. said Tuesday it has begun commercializing an artificial intelligence telemetry solution, MemoCue, with digital health care company Huino. The system will be supplied to H Plus Yangji Hospital and applied to about 100 beds in key departments where cardiac monitoring is essential, the company said. MemoCue analyzes hospitalized patients’ electrocardiogram data in real time to detect abnormal signs early and support clinicians’ decisions. It is designed to extend monitoring beyond intensive care units to general wards. Yuhan said the system can use a hospital’s existing communications infrastructure without installing a separate network gateway, reducing the burden of adoption. The solution includes a wearable ECG device, the Memo Patch M, designed with patient convenience and safety in mind. It uses a defibrillation protection circuit that delivers more than 99% of treatment energy to the patient and can resume measurement within five seconds after a shock, the company said. The product received U.S. Food and Drug Administration 510(k) clearance last year and earned the top electrical safety rating under the international medical device safety standard IEC 60601-1, known as “Type CF Defib-proof.” A Yuhan official said the company expects the system to help hospitalized patients recover by enabling accurate alerts and rapid response. 2026-04-21 11:12:19

New Bank of Korea chief stresses "discretion" as oil shock weighs prices and growth SEOUL, April 21 (AJP) —New Bank of Korea Governor Shin Hyun-song underlined “discretion” and “flexibility” in steering monetary policy as Middle East-driven supply disruptions stoke inflation while weighing on growth. “Upward pressure on prices and downward pressure on the economy have simultaneously increased due to rising international oil prices following the Middle East conflict,” Shin said in his inauguration address Tuesday, as he began his four-year term. He pledged to enhance the “efficacy” of monetary policy through a reassessment of policy firepower and closer coordination with the government where needed, while also vowing to strengthen communication with markets. “We are going through a seismic transitional phase, with an AI-driven technological shift compounded by geopolitical conflicts,” he said. Domestically, Shin pointed to structural headwinds including demographic decline, widening income disparities, and growth constrained by housing instability and elevated household debt. “In today’s financial markets, the boundaries between banking and non-banking, as well as domestic and international sectors, are rapidly blurring,” he said. “It has become difficult to fully identify and respond to risks using existing frameworks alone.” He called for stronger early-warning systems by making more active use of market price indicators and improving visibility into the non-banking sector — a move seen as targeting regulatory arbitrage, with card loans approaching 43 trillion won ($29.2 billion). On foreign exchange policy, Shin signaled continuity. “Together with the government, we will promote 24-hour foreign exchange market operations and establish an offshore won settlement system,” he said, echoing plans set out by predecessor Rhee Chang-yong, who had pledged to introduce round-the-clock trading by July. On digital finance, Shin said the central bank would expand the use of a central bank digital currency (CBDC). “We will enhance the utility of CBDCs and deposit tokens through the second phase of ‘Project Hangang,’” he said, adding that international cooperation would be key to raising the won’s status in the evolving digital payments ecosystem. Shin also reaffirmed the importance of structural reform — a core theme under Rhee — calling it “an important part of monetary policy operations.” He takes office with the won still under pressure, as the dollar hovers near levels last seen after the global financial crisis. The currency was trading at 1,472.4 per dollar, retreating from around 1,520 won before the two-week truce between the United States and Iran. 2026-04-21 11:03:46

Hanwha Aerospace Raises Stake in KAI as LIG-LS Consortium Emerges as Dark Horse Korea Aerospace Industries’ long-discussed privatization is drawing renewed attention as potential bidders position themselves for a possible takeover of the country’s only aircraft manufacturer. According to the industry on the 22nd, Hanwha Aerospace said in its business report that it holds 4,864,000 KAI common shares, a 4.41% stake. Including the 0.58% held by affiliate Hanwha Systems, Hanwha Group’s combined stake totals 4.99%, making it KAI’s fourth-largest shareholder. Industry watchers view the share purchase as a preliminary move toward a bid. If Hanwha Aerospace were to acquire KAI, it could build a vertically integrated defense aerospace chain spanning aircraft engines, radar, artificial intelligence-based combat systems and airframe integration, potentially shortening development timelines and cutting costs. LIG Nex1 has also been mentioned as a contender. It was recently reported to have formed a task force to review participation in a KAI acquisition. Analysts say combining LIG Nex1’s strengths in guided weapons such as the Cheongung system, along with radar and communications equipment, with KAI’s systems-integration capabilities could generate significant synergy. If LIG Nex1 enters the race, a joint consortium with LS Group is also being discussed. The two companies, often described as part of the broader LG family, have maintained business ties even after corporate separation. LS Group’s defense affiliate LS Mtron is seen as globally competitive in tracked systems used in tanks, armored vehicles and self-propelled artillery. A combination of LIG Nex1’s precision-strike technology, LS Mtron’s mobility-component expertise and KAI’s systems integration could support integrated weapons systems across ground and air domains. KAI is listed, but the Export-Import Bank of Korea (26.41%) and the National Pension Service (8.20%) are its first- and second-largest shareholders. If a takeover contest accelerates, key variables are expected to include industrial competitiveness, financing capacity and the government’s stance. The industry estimates KAI’s fair value at about 5.8 trillion to 6.2 trillion won, reflecting the value of the top shareholder’s stake and a 20% to 30% control premium on the current share price. As of last year, Hanwha Aerospace’s cash and cash equivalents totaled 12.6692 trillion won, its highest level on record, giving it an advantage in funding, according to the industry. LIG Nex1 is viewed as weaker on liquidity but stronger on technological fit and market diversification. The government is also said to be concerned that if Hanwha adds airframe integration capabilities, it could dominate more than 50% of the defense market. President Lee Jae-myung has said, “It would be problematic if the defense ecosystem becomes monopolized by a specific company.” Hyundai Motor Group and Korean Air have also been cited as possible bidders. Hyundai Motor Group was a founding member of KAI in 1999 and once held a 10% stake, but in 2016 Hyundai Motor Chairman Chung Eui-sun sold the shares, saying the group would focus on its core auto business. With defense affiliate Hyundai Rotem and recent moves into urban air mobility, interest in aerospace has been rising. Korean Air previously pursued KAI acquisitions in 2003 and 2009, but both attempts fell through. Industry officials say privatization should be accelerated to strengthen KAI’s export competitiveness, arguing that modern warfare is shifting toward AI, drones and space operations and that KAI will struggle without stronger software capabilities. “If Hanwha acquires KAI, strong vertical integration and cost reductions could create a Korean version of Lockheed Martin,” one industry official said. “If LIG Nex1 and LS acquire it, they could form a two-pillar structure with Hanwha and foster a healthier market ecosystem.”* This article has been translated by AI. 2026-04-21 10:55:23

Lee urges shift from Seoul-centric tourism as 80% of foreign visitors cluster in capital President Lee Jae-myung said on the 24th that South Korea must move beyond an imbalance in which 80% of foreign tourists concentrate in Seoul, calling for a major shift toward locally led, region-centered tourism. Speaking at a Cabinet meeting he chaired at Cheong Wa Dae, Lee said that, boosted by the global boom in “K-culture,” the number of overseas visitors last year came close to 19 million, setting a new all-time high. He added that foreigner spending at duty-free shops and department stores surged during the Lunar New Year holiday period. Lee said the trend should be used as a springboard for a qualitative leap in the tourism industry. Pointing to the heavy concentration of visitors in the greater Seoul area, he urged officials to focus policy efforts on developing region-tailored tourism products and addressing long-standing inconveniences across transportation, lodging, shopping and payments. He also called for rooting out “anachronistic practices” such as price gouging and excessive street solicitation. Lee asked for active cooperation and communication among the central and local governments, as well as the private and public sectors, to build what he called a “K-tourism powerhouse” created by the entire country.* This article has been translated by AI. 2026-04-21 10:54:27

South Korea to Auction 18 Trillion Won in Treasury Bonds in February; Issue 10 Trillion Won in Fiscal Bills The Ministry of Finance and Economy said on the 29th it will issue about 18 trillion won in Treasury bonds next month through competitive auctions open to primary dealers and other participants. The February auction plan is up 2 trillion won from January’s 16 trillion won. Planned issuance by maturity is: 3.1 trillion won in 2-year notes, 3.1 trillion won in 3-year notes, 3.0 trillion won in 5-year notes, 2.6 trillion won in 10-year notes, 500 billion won in 20-year bonds, 4.7 trillion won in 30-year bonds, 900 billion won in 50-year bonds and 100 billion won in inflation-linked Treasury bonds. Primary dealers and individual investors may purchase set amounts on a noncompetitive basis at the auction’s winning yield for each maturity. To support liquidity in the Treasury market, the ministry will also conduct a swap of about 500 billion won between off-the-run 10-year, 20-year and 30-year issues and the 30-year benchmark issue. The government uses short-term fiscal bills — which must be repaid within the fiscal year — and temporary borrowing from the Bank of Korea to cover brief funding gaps caused by timing mismatches between revenue and spending. In February, it plans to issue 10 trillion won in fiscal bills to support smooth budget execution. Fiscal bills will be sold through competitive auctions to 32 institutions, including Monetary Stabilization Bond auction participants, Treasury primary dealers, preliminary primary dealers and institutions that manage Treasury funds. The ministry also plans to issue 1.2 trillion won in one-year, won-denominated foreign exchange stabilization bonds through competitive auctions involving the same 32 institutions, including primary dealers, preliminary primary dealers and eligible Monetary Stabilization Bond auction participants.* This article has been translated by AI. 2026-04-21 10:54:00

Trump rules out further extension of Iran ceasefire as deadline approaches SEOUL, April 21 (AJP) - The U.S. is unlikely to extend its two-week ceasefire with Iran, which expires this week, U.S. President Donald Trump told Bloomberg on Monday, downplaying the chances of another extension. During a phone interview, Trump said the ceasefire would end "Wednesday evening Washington time" - a deadline extended by a day from an initially expected Tuesday expiry, after he announced the temporary truce on April 7 following threats to strike Iranian facilities. Trump added it is "highly unlikely" the deadline will be extended, as a U.S. negotiating team led by Vice President JD Vance, which also includes U.S. special envoy to the Middle East Steve Witkoff and Jared Kushner, the president's son-in-law, is traveling to Islamabad in Pakistan for talks with Iran. When asked about concerns that he would be "under pressure" to cut a deal with Iran, Trump brushed them off, saying he is "not going to be rushed into making a bad deal." In a post on his own platform Truth Social earlier in the day, Trump also expressed confidence he would secure a "far better" deal than the 2015 agreement reached with Iran under former President Barack Obama. "The DEAL that we are making with Iran will be FAR BETTER than the JCPOA, commonly referred to as 'The Iran Nuclear Deal,' penned by Barack Hussein Obama and Sleepy Joe Biden, one of the Worst Deals ever made having to do with the Security of our Country. It was a guaranteed Road to a Nuclear Weapon, which will not, and cannot, happen with the Deal we're working on," he wrote. But Trump's comments come as uncertainty remains over whether another round of talks between Washington and Tehran will take place, after the first round earlier this month ended without agreement, amid renewed tensions in the Middle East as Iran denied any plans to negotiate with the U.S. and instead vowed to retaliate over the U.S. seizure of an Iranian cargo ship last weekend. With looming talks between Washington and Tehran just hours ahead of Wednesday's deadline, it remains to be seen whether the two sides can make a last-minute breakthrough and reach a peace deal. 2026-04-21 10:32:32

S. Korean scholar pitches trust operating system as algorithms absorb human workflows SEOUL, April 21 (AJP) - Artificial intelligence generated nearly 29 percent of new Python scripts in the United States by early 2025. That metric triggered a silent panic across enterprise software sectors, marking the onset of what industry insiders call the SaaS (software-as-a-service)-pocalypse. Software is no longer just a functional tool waiting for a human click. Machine intelligence is actively moving to absorb complete cognitive workflows, seizing the power of judgment from human operators and fundamentally transferring authority. Park Han-woo, a media and digital business professor at Yeungnam University in South Korea, argues that the global economy is entirely unprepared for this structural disruption. In his latest book, "Digital Assets and Trust Operating Systems in the Era of AI," published on Tuesday, the author outlines how generative algorithms are evolving from passive assistants into autonomous agents capable of making financial and governance decisions on behalf of humans. "Judgment is power," the professor told AJP, noting that delegating these decisions to AI poses severe risks if left unchecked by robust institutional frameworks. "AI can create information, but it cannot take responsibility," the academic added. "The usefulness of a tool is determined by humans. To a thief, a knife can be a weapon to threaten people, but to a chef, a knife is necessary equipment to make delicious food. Delegate, but verify. AI is fast. But it can be wrong." Data as a mirror of social fracture The delegation of authority to machines frequently exposes deep-seated societal flaws. In his book, he highlighted a specific incident where an image-generating algorithm was prompted to draw a street sock seller and a corporate stockbroker. The resulting image depicted the sock vendor as an overweight Black man and the stockbroker as a well-groomed, physically fit White man holding an elegant bag. Algorithms learn from historical data sets inherently laced with human prejudice. An unchecked AI will inevitably reproduce and amplify past inequalities, ultimately reinforcing social disparities rather than eliminating them. "AI is a mirror. It reflects us," the author said. To prevent these biases from manifesting into automated discriminatory actions, the scholar insists that human intervention remains mandatory. He proposes a multi-layered approach: refining data to correct prejudice before training, enforcing transparent judgment processes that explain how a conclusion was reached, and demanding human oversight for critical decisions. "Content is overflowing, and trust is lacking," he noted, referring to the infinite generation of long-tail media. "Content verification comes from structure." The algorithmic challenge to sovereignty To formalize this oversight structure, the Yeungnam University academic advocates for the implementation of an AI-enhanced Decentralized Autonomous Organization, or AIDAO. This theoretical model combines the flexible, probabilistic reasoning of AI with the immutable, cryptographic execution of blockchain technology. "To explain AIDAO in one sentence: An organization operated together by AI and humans, or a decentralized autonomous organization where AI can be the CEO," the professor said. In an AIDAO, an agent might propose a strategy, such as shifting 20 percent of a portfolio during volatile market conditions. That proposal is not executed instantly. Instead, it must pass through smart contracts, specifically Ethereum protocols like ERC-8004 for identity verification and ERC-8001 for execution consensus, and require human approval. "The reason this is important is because it separates judgment, execution, and responsibility," the scholar said. Washington and other Western powers are already grappling with the implications of algorithmic governance. Seoul must also pivot toward shared global architectures rather than relying on isolated corporate platforms. The ultimate safeguard against the SaaS-pocalypse is a Trust Operating System that demands verifiable proof over blind faith. "AI calculates based on rules," he said, emphasizing, "AI generates based on probabilities. AI infers based on data. But humans are incomplete beings accompanied by mistakes. An AI with errors is discarded. However, even if imperfect, humans are chosen. Because humans are noble beings in and of themselves." While algorithms excel at optimizing workflows, the author maintains that humanity will retain its monopoly on meaning and purpose. "AI is good at 'how,' but it cannot do 'why,'" the academic said. "AI gives answers. But humans ask questions." That philosophical boundary forms the foundation of his proposed trust operating system. As algorithms steadily absorb the functional tasks of daily commerce and governance, the defining challenge of the AI era is no longer technological capability, but the architectural design of trust. The authority to build that architecture, the scholar argues, must remain firmly in human hands. While theoretical frameworks like AIDAO are still being debated in academic and financial circles, initial regulatory steps are already materializing. The South Korean government mandated the use of watermarks on AI-generated content starting in January this year. 2026-04-21 10:30:04

Shinhan Bank to Back OCI Holdings Growth Plans With Malaysia Unit Dollar Loan Shinhan Bank said it will provide financial support for OCI Holdings’ future growth businesses, offering not only direct financing but also a range of solutions aimed at strengthening the company’s competitiveness in global markets. The bank said Tuesday it signed a business agreement with OCI Holdings on “productive finance support and joint cooperation for future growth.” Under the agreement, the two sides will expand financing and arrange funding for capital investment and working capital tied to future growth businesses, including semiconductors and advanced materials, as well as facilities linked to building a global solar value chain. They also plan to cooperate on green finance to advance environmental, social and governance management and support carbon-neutral efforts. As a first project, Shinhan Bank will support a $435 million plan by the Malaysia-based joint venture OTSM to build a new polysilicon plant for semiconductors, providing a standby letter of credit and a foreign-currency loan through its Singapore branch. The amount is about 640.2 billion won, the bank said. “This agreement is meaningful in that it supports, through finance, stronger competitiveness in the advanced materials industry and an expanded foundation for future growth,” a Shinhan Bank official said. “We will continue to broaden productive finance that supports corporate production and innovation-driven growth.”* This article has been translated by AI. 2026-04-21 10:27:00