Seoul sends envoy to Kazakhstan, Oman, and Saudi on energy mission SEOUL, April 07 (AJP) - South Korea is dispatching a government delegation led by a senior presidential envoy to key energy partners in Central Asia and the Middle East to secure crude oil and naphtha supplies as the country braces for fallout from prolonged disruptions of the Strait of Hormuz. Kang Hoon-sik, chief of staff to President Lee Jae Myung, will depart Tuesday for Kazakhstan, Oman and Saudi Arabia in his capacity as special envoy for strategic economic cooperation, the presidential office said. Speaking at a briefing, Kang said the delegation — which includes officials from the Ministry of Trade, Industry and Energy and representatives from domestic energy firms — will focus on securing additional supplies of crude and feedstock. “The most urgent priority at this point is to ensure stable supply of essential goods for daily life,” Kang said, noting Korea’s heavy reliance on Middle Eastern energy imports. The trip follows a recent agreement with the United Arab Emirates to prioritize shipments of 24 million barrels of crude, with cargoes already arriving at Korean ports. However, Kang stressed that further diversification is needed until the regional conflict stabilizes. “To ensure that high-level talks do not end as empty words, we will work closely with companies and provide all necessary support until shipments safely reach Korean ports,” he said. Seoul is also working to secure safe passage for 26 Korean-flagged vessels currently in or near the Strait of Hormuz, prioritizing crew safety while coordinating with shipping firms and international partners. 2026-04-07 11:58:02

LG Electronics Q1 OP beats expectations, sales hit quarterly high SEOUL, April 07 (AJP) - LG Electronics on Tuesday estimated stronger-than-expected operating profit and record three-month sales in the quarter ended March thanks to its premium lineup and steady growth in business-to-business segments despite tariff pressure in the U.S. and weak Korean won. In its preliminary earnings guidance, the company reported an operating profit at 1.67 trillion won ($1.24 billion) for the January–March period, up 32.9 percent from a year earlier and well above the 1.38 trillion won market consensus compiled by FnGuide. Revenue rose 4.4 percent on year to a quarterly record of 23.73 trillion won. The performance contrasts with the volatility seen in the broader tech components sector, as LG’s earnings were underpinned by resilient demand in its home appliance division. The unit benefited from expanded subscription-based services and stronger online sales, reinforcing stable cash flow generation. Its vehicle component solutions (VS) division also sustained growth, supported by a solid order backlog, while ongoing cost structure improvements helped cushion the impact of higher raw material prices and currency pressure from a sharply weakened won. Shares of LG Electronics were up 0.5 percent at 109,900 won as of 11:40 a.m. The company is scheduled to release its full earnings report toward the end of this month. 2026-04-07 11:51:46

Royal Culture Festival to Run 9 Days at Seoul’s Five Grand Palaces, Jongmyo Shrine The 2026 Royal Culture Festival will be held for nine days from April 25 to May 3 at Seoul’s five major palaces — Gyeongbokgung, Changdeokgung, Deoksugung, Changgyeonggung and Gyeonghuigung — as well as Jongmyo Shrine. The National Heritage Administration’s Royal Palaces and Tombs Center and the agency-affiliated Korea Heritage Service Foundation said Tuesday that the theme for the spring 2026 festival is “Palace, Awakening Art.” An opening ceremony will be held April 24 at Heungnyemun Square at Gyeongbokgung. Director Yang Jeong-ung, who served as artistic director for cultural events tied to the “2025 APEC summit,” will stage a performance titled “Palace, Awakening Art — Hyper Palace,” combining K-content sensibilities with palace aesthetics. The program will begin with the National Dance Company’s “Mongyudowonmu,” followed by rapper Woo Won-jae and the foundation’s arts troupe performing “Ganggangsullae,” a hanbok fashion show blending Korean traditional music with EDM, and joint stages featuring Choi Ho-jong and Heo Yun-jeong, an accredited performer of the national intangible heritage geomungo sanjo. Performances will also include singer Choi Ye-rim with the Noah Children’s Choir and a reinterpretation of Bongsan mask dance by dancer AIKI with HOOK. The finale will feature a media-facade mapping show and the National Gugak Center’s “Hyangamurak,” showcasing court dance traditions. At Gyeongbokgung, programs include “Gyeongbokgung, Time Travel (4.25.~4.29.),” “Recreating Daily Life at Court (4.25.~4.29.),” “Newcomers to the Royal Court (4.25.~4.29.)” and the “Children’s Royal Culture Festival (5.1.~5.3.).” For socially vulnerable groups, including single-parent families, “A Gyeonghoeru Outing With Jangakwon Musicians (4.25.~5.3.)” offers hands-on experiences with traditional wind instruments and family photos with the palace as a backdrop. A “K-Heritage Market (4.25.~5.3.)” will run throughout the nine days, selling souvenirs. At Changdeokgung, the festival will present “Awakening the Palace in the Morning (4.28.~5.3.)” and “Crown Prince Hyomyeong and the Dance of the Moon (4.28.~4.30.).” The latter program lets visitors follow the process of preparing a banquet in 1828 to mark Queen Sunwon’s 40th birthday, touring key buildings and the rear garden. At Injeongjeon Hall, a traditional arts performance titled “Palace Concert — Taepyeongjiak by 100 Performers (太平之樂)(5.1.~5.3.)” will feature 100 performers presenting Korean traditional pieces including Sujecheon, Taepyeongga and Arirang. At Deoksugung, “Imperial Hobby Club (4.25.~5.3.)” at Jeonggwanheon will offer experiences such as tasting yangtang-guk (coffee) enjoyed by King Gojong and trying sports and other pastimes, along with special music performances. For foreign visitors, “The Emperor’s Table (5.1.~5.3.)” at Jungmyeongjeon will offer a chance to taste banquet dishes from the Korean Empire’s imperial court and hear about the history of royal cuisine. At Changgyeonggung, “Yeongchunheon, Spring Library (4.27.~5.1.)” and “The Queen’s Taste (4.30.~5.3.)” will be offered. At Gyeonghuigung, the foundation’s arts troupe will lead a street parade, “Royal Culture Festival Gilnori (5.1.),” from Heunghwamun Gate to Sungjeongmun Gate, featuring traditional performances including lion dance, Jindo drum dance and pangut. At Jongmyo Shrine, “Jongmyo Jeryeak Night Performances (4.28.~4.30.)” will present the royal ancestral ritual music in the evening. Programs requiring advance reservations will open sequentially starting at noon April 8, with tickets available through Ticketlink. Programs for foreign visitors can be booked through Creatrip. * This article has been translated by AI. 2026-04-07 11:42:25

Samsung earnings surprise boosts KOSPI as markets remain cautious over Trump's ultimatum to Iran SEOUL, April 7 (AJP) - South Korea's benchmark KOSPI got off to a good start on Tuesday as a strong earnings surprise from Samsung Electronics supported sentiment, although gains were limited as Asian and other markets braced for U.S. President Donald Trump's final ultimatum to Iran. The KOSPI pared earlier gains, rising 0.64 percent to 5,485.43. Gains were supported by Samsung Electronics rising 1.81 percent to 196,600 won after posting record-breaking quarterly earnings. The electronic giant reported preliminary first-quarter revenue of 133 trillion won ($89 billion) and operating profit of 57.2 trillion won ($42.3 billion), both record highs that far exceeded market expectations. Over 90 percent of operating profit is estimated to have come from the memory chip segment, supported by rising prices for high-bandwidth memory (HBM), DRAM, and NAND products. Its detailed earnings report will come out later this month. Another major chipmaker, SK hynix rose 2.93 percent to 912,000 won. Among large-cap industrials, LG Energy Solution climbed 1.03 percent to 416,750 won, Hyundai Motor rose 0.53 percent to 471,500 won, and Hanwha Aerospace added 1.03 percent to 1,465,000 won. SK Square jumped 3.49 percent to 504,000 won, and Doosan Enerbility edged up 0.31 percent to 96,000 won. Financial shares were also higher, with KB Financial Group gaining 1.76 percent to 150,500 won and Shinhan Financial Group rising 0.75 percent to 93,600 won. Samsung C&T advanced 2.04 percent to 275,000 won. On the downside, Kia slipped 0.20 percent to 151,300 won, Celltrion edged down 0.05 percent to 195,700 won, Samsung Life Insurance fell 0.22 percent to 225,500 won, Mirae Asset Securities declined 0.16 percent to 63,100 won, and Hyundai Mobis dropped 0.64 percent to 386,000 won. The junior KOSDAQ, meanwhile, reversed course to trade 0.07 percent lower at 1,046.60 shortly after the day's trading began. Shares of Samchundang Pharm plunged 9.71 percent in the morning. The pharmaceutical company failed to ease investor concerns despite holding a press briefing to address controversies surrounding whether its oral semaglutide is a generic drug and the substance of its underlying technology. Elsewhere in Asia, Japan's Nikkei 225 extended gains, rising 0.22 percent to 53,530.05 in the morning trade. According to Kazuaki Shimada, chief strategist at IwaiCosmo Securities, the index has remained relatively resilient to rising oil prices as market focus shifts toward growth in artificial intelligence-related stocks. Chip-related shares led gains, with Advantest rising 1.41 percent to 22,130 yen and Tokyo Electron adding 0.86 percent to 38,700 yen. China's Shanghai Composite Index rose 0.10 percent to 3,884.15, while Hong Kong's stock market remained closed for the extended Easter holiday. In the currency market, the won remained relatively stable, with the dollar trading at 1,509.70 won, compared with 1,506.3 won at the previous day's close. Overnight on Wall Street, all three major indexes closed higher. The Dow Jones Industrial Average rose 165.21 points, or 0.36 percent, to 46,669.88, the S&P 500 gained 0.44 percent to 6,611.83, and the Nasdaq Composite advanced 0.54 percent to 21,996.34. Trump has warned Iran that it must reopen the Strait of Hormuz by Tuesday or face large‑scale strikes on its energy infrastructure and power plants, even as some diplomatic channels and cease‑fire proposals remain under discussion. With the deadline set for 8 p.m. Eastern Time, investors are turning cautious, as a potential strike on Iran's energy infrastructure could trigger broader disruptions in global energy markets. 2026-04-07 11:30:13

South Korea to transfer KF-21 prototype to Indonesia SEOUL, April 7 (AJP) - South Korea has agreed to transfer one of its fighter jet prototypes to Indonesia as part of the two countries' joint development project. According to a report submitted on Tuesday by the Defense Acquisition Program Administration (DAPA) to Kang Dae-sik of the main opposition People Power Party (PPP), who leads the National Assembly's defense committee, the two countries reached an agreement in their working-level talks in February to transfer one of the six KF-21 prototypes, multi-role fighter jets dubbed "Boramae." The value of the transfer is reportedly estimated at about 600 billion won (about U$400 million), almost equal to Indonesia's contribution to the development. The package includes a KF-21 prototype worth 350 billion won, 174.2 billion won for technology transfer and wages for Indonesian researchers, and 75.8 billion won for other costs. Indonesia had initially agreed to cover about 20 percent of the total development costs, roughly 1.6 trillion won, but delayed payments citing economic difficulties, forcing South Korea to reduce the Southeast Asian country's contribution to 600 billion won last year. Jakarta has so far paid 536 billion won of the total 600 billion won and plans to pay the remaining amount by June. DAPA plans to decide when to hand over the prototype once full payment is made. Separately, South Korea is also in talks with Indonesia to export 16 homegrown KF-21 aircraft. 2026-04-07 10:58:03

Lee set to meet ruling, opposition party leaders over lunch SEOUL, April 7 (AJP) - President Lee Jae Myung is set to meet with leaders of both the ruling Democratic Party (DP) and the main opposition People Power Party (PPP) at Cheong Wa Dae in central Seoul on Tuesday to discuss measures to cope with the deepening Middle East crisis. Lee is scheduled to hold a luncheon meeting with DP leader Jung Chung-rae and PPP leader Jang Dong-hyeok. The meeting comes roughly seven months after the last one held in September last year and about two months after a similar gathering fell through in February, when Jang declined to attend at the last minute. Also expected to attend are the two main parties' floor leaders Han Byung-do and Song Eon-seog, as well as Prime Minister Kim Min-seok, presidential chief of staff Kang Hoon-sik, and senior presidential secretary for political affairs Hong Ik-pyo. With no specific agenda set for the meeting, talks are likely to cover various issues, with Lee expected to seek cooperation on the passage of a supplementary budget proposal worth 26 trillion won (US$17 billion) including cash handouts, in the National Assembly. The DP says the supplementary budget is necessary to support people's livelihoods, while the PPP is criticizing it as a populist move to woo voters ahead of local elections scheduled for June 3. 2026-04-07 10:06:37

Comedian Heo Kyung-hwan Says Elementary Students Now Recognize Him Comedian Heo Kyung-hwan said elementary school students are starting to recognize him. A video titled “I’m being funny, but I’m nervous… Legendary KBS 22nd class comedians | Jjanhanhyeong Shin Dong-yup, Jung Ho-cheol” was posted Sunday on the YouTube channel “Jjanhanhyeong Shin Dong-yup.” In the video, host Shin Dong-yup said Heo’s catchphrase has been gaining popularity. Heo replied that until recently, elementary students “didn’t know me at all.” Heo described riding an elevator with parents and two children in first or second grade. “When I got on, the parents said, ‘Hello, Mr. Heo Kyung-hwan. We enjoy watching you,’” he said. He said the children asked who he was, and the parents told them, “There’s just a famous uncle.” Then, Heo said, one child looked at him and said, “Heo Kyung-hwan?” “The kids know Heo Kyung-hwan from reels, but they didn’t know me from doing comedy,” he said, adding that the moment was “the best” he has felt this year. Comedian Park Young-jin responded, “Now it’s the era of Heo Kyung-hwan.” Heo replied, “You’re a broadcaster.”* This article has been translated by AI. 2026-04-07 09:36:23

More companies voluntarily join efforts to save energy amid skyrocketing oil prices SEOUL, April 7 (AJP) - More companies are voluntarily joining energy-saving efforts including alternating vehicle use as part of measures to cope with energy shortages amid the prolonged conflict in the Middle East, the Ministry of Climate, Energy and Environment said on Tuesday. Major conglomerates such as CJ, GS, Hanwha, HD Hyundai, Hyundai Motor, Lotte, Samsung, SK, and POSCO are requiring employees to leave their cars at home once a week depending on the last digit of their license plates. The country's five major banks - Hana, KB Kookmin, NH NongHyup, Shinhan, and Woori - are also implementing similar measures. Business lobbies such as the Korea Chamber of Commerce and Industry, the Korea Employers Federation, and the Korea International Trade Association have also followed suit. According to the ministry, about 50 large and mid-sized companies including universities and other private institutions are taking part in these energy-saving efforts, just about a week after state-run agencies and public institutions took the lead late last month. Civil servants and staff at public institutions, previously mandated to leave their cars at home one day per week since March 25, are now required to commute by public transportation every other day starting from Wednesday. About 50 refiners, petrochemical companies, and others heavily reliant on petroleum have also pledged to reduce energy consumption, with plans to cut usage this year by 3.3 percent or 130,000 tons of oil equivalent from last year's 3.93 million toe. The 130,000 toe is equivalent to about 610 gigawatt-hours of energy, roughly the amount of electricity generated by a nuclear power plant operating for about a month. The ministry also plans to support companies that meet their reduction targets by subsidizing the installation of energy-saving facilities. Many workers are also participating by turning off lights during lunch breaks, using stairs instead of elevators, carpooling, or riding bicycles. "It is encouraging to see many companies and organizations voluntarily join despite difficulties caused by high oil prices," said Park Deok-yeol, a ministry official, vowing to further expand energy-saving efforts. 2026-04-07 09:14:00

Celltrion's Truxima becomes first South Korean biosimilar to claim top U.S. prescription share SEOUL, April 07 (AJP) - Celltrion's blood cancer treatment Truxima has become the first South Korean biosimilar to capture the largest prescription share in the United States, marking a milestone for the country's biopharmaceutical industry at a time when Washington is actively championing lower-cost alternatives to branded drugs. Truxima, a biosimilar of Roche's blockbuster Rituxan, secured a 35.8 percent share of U.S. prescriptions by volume in February, according to data from market research firm IQVIA. The achievement comes about six years and three months after the drug's U.S. launch in November 2019, overtaking both the original medicine and rival products to become the most-prescribed rituximab treatment in the country. The milestone lands in a favorable policy climate. President Donald Trump signed an executive order in April 2025 calling on the FDA to recommend ways to accelerate approval of biosimilars, and his administration's Section 232 pharmaceutical tariffs announced on April 2 this year explicitly exempted biosimilar products and their ingredients, while imposing levies of up to 100 percent on patented drugs. South Korea is among the countries whose patented drug exports face a reduced 15 percent tariff under existing trade deals, but the full exemption for biosimilars gives companies like Celltrion a distinct competitive edge. The prescription gains have translated directly into revenue. Truxima generated more than 300 billion won ($198.8 million) in sales across North America last year, a year-on-year increase exceeding 40 percent. Celltrion's flagship autoimmune treatment Inflectra, the U.S. brand name for infliximab biosimilar Remsima, also held the highest biosimilar prescription share in its category at 30.5 percent, while prescriptions for subcutaneous formulation Zymfentra more than tripled in January from a year earlier. Newer high-margin products are also gaining traction. Steqeyma, a biosimilar of Stelara launched in March last year, has already captured 10.2 percent of prescriptions after securing preferred formulary status with major pharmacy benefit managers. Avtozma (tocilizumab) and Stoboclo-Osenvelt (denosumab), both launched in the second half of last year, are steadily expanding their reimbursement coverage through PBM contracts. "As both our legacy and newly launched products continue to deliver strong results across global markets, including the United States, we are confident of meeting our full-year earnings targets," said a Celltrion spokesperson. 2026-04-07 09:03:49

Trump sets Hormuz deadline, singles out South Korea over Iran war support SEOUL, April 07 (AJP)-U.S. President Donald Trump on Monday reiterated a deadline for Iran to reopen the Strait of Hormuz by 8 p.m. Tuesday, warning of military action while again singling out South Korea, saying Washington had received little help from its allies. “The entire country can be taken out in one night, and that night might be tomorrow night,” Trump said at a White House press briefing, as he pressed Tehran to accept a deal to restore oil transit. Iran, however, rejected a temporary cease-fire proposal tied to reopening the Strait of Hormuz, with state media saying Tehran would not trade access to the waterway for a short-term truce and instead demanded a permanent end to the war and broader concessions. At the same briefing, he broadened his criticism beyond Iran to U.S. allies. “It’s not just NATO… Do you know who else didn’t help us? South Korea,” he said. Trump tied the complaint directly to U.S. troop deployments on the Korean Peninsula. “We have 45,000 soldiers in South Korea… right next to Kim Jong Un, who has a lot of nuclear weapons,” he said, again overstating the American presence. U.S. Forces Korea stands at roughly 28,500 personnel. The remarks come as Seoul has yet to respond to Washington’s earlier request to dispatch naval assets to help secure the Strait of Hormuz, a key global energy chokepoint. Trump reiterated that reopening the strait is central to any agreement. “We have to have a deal that’s acceptable to me… and part of the deal’s going to be we want free traffic of oil, and everything else,” he said. He warned that failure to meet the deadline would trigger strikes on Iran’s infrastructure. “We have a plan… where every bridge in Iran will be decimated… where every power plant in Iran will be out of business,” he said. Trump extended similar criticism to Japan and Australia, while reiterating his dissatisfaction with NATO, which he described as ineffective, adding that Russian President Vladimir Putin “is not afraid of NATO, but he is afraid of the United States.” In contrast, he praised Gulf partners including Saudi Arabia, Qatar, the United Arab Emirates, Bahrain and Kuwait, calling their stance “excellent.” Trump also reiterated his personal rapport with North Korean leader Kim Jong Un, saying the two “get along very well” and that Kim “likes me.” 2026-04-07 09:02:17