Report: Middle East war could boost China’s renewable energy edge despite oil shock Energy supply shocks triggered by the Middle East war are rattling the global economy, but China could emerge as a medium- to long-term beneficiary in renewables despite near-term pain, a report said. According to the International Finance Center’s report, titled “China’s windfall gains from the Middle East war,” the conflict has exposed vulnerabilities in global energy supply chains, prompting governments and businesses to accelerate adoption and conversion to renewable energy. With instability in the Strait of Hormuz — a route for 20% to 30% of global crude oil shipments — becoming a reality, international oil prices have jumped more than 50% from prewar levels, rapidly increasing the burden on countries heavily dependent on energy imports. China is also expected to face a short-term hit. As the world’s largest crude importer, accounting for 19.3% of global oil imports, higher oil prices could quickly raise manufacturing costs and add pressure for slower growth. The report also warned that rising raw material prices could lift production costs and weaken export competitiveness. Still, the crisis may speed up the shift in energy systems. The more supply-chain instability repeats, the more countries are likely to reduce reliance on fossil fuels and expand investment in renewables. The report said China’s advanced renewable energy industry is likely to benefit. In recent years, production of electric vehicles, solar power equipment and batteries has surged. As of last year, output was up from 2019 by 1,080% for EVs, 340% for solar and 240% for batteries. China’s global dominance in these markets is also strong. As of 2024, China’s share of global production of solar, wind and batteries was about 80%, reinforcing its role as a central hub in renewable energy supply chains, the report said. Renewables have already become a growth driver for China’s economy. One analysis cited in the report said that without the sector, China’s economic growth rate last year would have been about 3.5%, making it difficult to reach the 5% target. The report concluded that while China is bearing the burden of high oil prices in the short term, the war is creating an “asymmetric benefit structure” in which China can absorb rising demand for energy transition over the medium to long term. It also cautioned that if the United States and Europe intensify supply-chain restructuring and efforts to reduce dependence on China, China’s renewable energy lead could face trade restrictions. Kim Woo-jin, a senior researcher at the International Finance Center, said rising global demand for renewables is expected to help ease oversupply problems as well as boost China’s exports. But he added that policymakers in major countries including the U.S. and Europe are wary of growing reliance on China, citing concerns that Chinese-made solar panels and EVs with wireless connectivity could be remotely disabled.* This article has been translated by AI. 2026-05-04 10:28:13

Yang Hyang-ja says Gyeonggi needs a tech expert, not a legal specialist, as governor Yang Hyang-ja, a People Power Party candidate for Gyeonggi governor, criticized Democratic Party candidate Chu Mi-ae on Monday, saying the province needs “a capable governor who can revive the economy, not a legal technician.” Speaking on KBS radio’s “Jeongyeok Sisa,” Yang said Chu is “South Korean politics’ representative brawler,” and claimed Chu was involved in the impeachments of three presidents, including President Roh Moo-hyun. Yang said Gyeonggi’s 14 million residents need “a worker, not a fighter,” and want “a new person” to build “a new Gyeonggi.” She added that for Gyeonggi to become “the heart of South Korea’s advanced industries,” she believes residents will see her as the right choice. Yang pledged to develop the province around semiconductors. “Gyeonggi’s per-capita gross regional domestic product needs to reach 100 million won,” she said. “To do that, we must bring in semiconductor-based advanced AI industries tailored to each of the province’s 31 cities and counties.” Calling herself the only expert in semiconductor management strategy, she said she would work energetically with civil servants and promised residents she would build “a happy Gyeonggi.” On development strategies for northern and southern Gyeonggi, Yang said semiconductors are centered in the south, but the north has an opportunity in logistics, defense industries, mobility and bio. She said she would make Goyang and Paju “a forward base for future industries,” not “a land of regulation and sacrifice.” Asked about the possibility of unifying candidacies with Cho Eung-cheon, the Reform Party’s candidate for Gyeonggi governor, Yang said she was not considering it. “If the People Power Party can’t beat the Democratic Party, any kind of unification won’t be easy,” she said. * This article has been translated by AI. 2026-05-04 10:27:16

An Se-young’s 20 Wins Show Routine, Not Luck, Behind Her Dominance The scoreline was simple: 21-10, 21-13. But it reflected more than a routine win. Against the world No. 2, An Se-young did not allow a single tie, extending a run that has produced 20 victories. An holds a career record of 20 wins and five losses against China’s Wang Zhiyi. The margin is large enough to invite talk of a difficult matchup for Wang. Still, dominance over one opponent does not automatically mean control of an entire sport. Matchups and styles can shift outcomes. Even so, the record matters because it is repeated. Opponents prepare, study and adjust, yet the results have not swung much. That consistency is a key measure of a top player. An’s edge has looked less like a one-off advantage and more like stability that holds across situations. Her game is not built on raw power alone. She mixes half smashes, drops and tight net shots to disrupt rhythm. Rather than ending points with one big shot, she controls rallies through repeated choices. For opponents, attacks do not open space and defense offers no clear escape, and errors follow. That pattern helped explain why Wang looked unsettled early. Such control is often described as “designing” a match: reading patterns, breaking momentum and rebuilding it. The question is where it comes from. Many point to talent. At this level, talent is necessary, but it does not fully explain An’s most notable trait: small fluctuations. The gap between her best and worst days is not large, and that kind of steadiness is not built on talent alone. The explanation returns to basics: training, fitness management, match analysis and mental discipline. The difference is the intensity and persistence of repetition. Many athletes waver once they reach a certain level, but An continues to push the fundamentals. Over time, that repetition turns ability from a matter of “form” into something closer to a durable structure — the result of keeping a routine. In that sense, An’s wins are less about luck than accumulation. Her ability to shape matches is presented as the product of countless repeated decisions and experiences. Her results at this tournament underscored the point. From the group stage through the final, she did not drop a single game. In the team event, she repeatedly went out first, taking responsibility for the opening match. In team competition, the first point can set the tone and widen strategic options. That does not mean one player guarantees a team victory. Badminton team events are decided by multiple matches, and relying too heavily on one star can mask weaknesses elsewhere. Still, An’s presence clearly affects a team. Confidence in securing the first match can ease pressure on teammates and expand tactical choices. It does not change anyone’s skill, but it can tilt probabilities and momentum in a favorable direction. The next test is whether that stability holds as opponents evolve and new challengers emerge. The label of “best” is not secured by one proof, but maintained through repeated proof. For now, An is portrayed as the player closest to that standard, largely because she rarely looks shaken. That is why 20 wins stands out: not just as a number, but as evidence of repetition and accumulation — the ability to produce the same result again and again.* This article has been translated by AI. 2026-05-04 10:24:41

Krafton shares jump nearly 14% on plan to form autonomous driving venture with Socar Krafton shares rose more than 13% in early trading on news it will work with Socar to commercialize autonomous driving services. According to the Korea Exchange, Krafton was trading at 302,000 won as of 10:01 a.m. on the 4th, up 37,000 won, or 13.96%, from the previous session. Krafton said on April 30 that it will participate in Socar’s plan to establish a 150 billion won autonomous driving company, Apex Mobility. The new entity is expected to be set up this month. Krafton will first invest 65 billion won by joining Socar’s paid-in capital increase. Once the offering is completed, Krafton will become a major shareholder of Socar. Krafton also plans a separate investment in the new company. Socar is accumulating vehicle-related data through a fleet management system, or FMS, installed in its shared cars, and is described as holding the largest volume of driving data in South Korea. Separately, Krafton’s first-quarter results, previously announced by the company, were tallied as showing a sharp improvement. On the 4th, Korea Investment & Securities, NH Investment & Securities, Hanwha Investment & Securities and Eugene Investment & Securities raised their target price for Krafton to 400,000 won, while Hana Securities set its target at 460,000 won.* This article has been translated by AI. 2026-05-04 10:12:15

Choo Mi-ae Questions Jang Dong-hyuk’s Conduct as a Former Judge Choo Mi-ae, the Democratic Party candidate for Gyeonggi governor, criticized Jang Dong-hyuk, the leader of the People Power Party, on the 4th, saying it was “puzzling” that he is a former judge. Choo made the remarks during a morning appearance on the radio program “Kim Eo-jun’s Humility Is Hard, News Factory,” responding to a host’s question about how she views Jang. “Judges are used to hearing both sides. They don’t speak after making quick assumptions,” she said. Choo, who said she is also a former judge, recalled that when she first joined her party as a deputy spokesperson, she was told she was slow. “They told me, ‘Say our argument quickly,’ but shouldn’t you first listen to see whether our argument is right or not?” she said. She also accused Jang of “pouring out nonsense on his own,” adding that he “creates confusion both in the United States and here.” Asked about the possibility of a unified candidacy between her rivals — People Power Party candidate Yang Hyang-ja and Reform New Party candidate Cho Eung-cheon — Choo said it did not appear likely. She said that with a general election two years away, they would not “easily” unify if they are considering their political standing. Choo cited “a major transformation for Gyeonggi” as a key theme of the race. She said the Democratic Party should win in all 31 cities and counties in the province, calling it “a rare chance to change Gyeonggi dramatically.” * This article has been translated by AI. 2026-05-04 10:04:20

Bank of Korea Deputy Governor Says Rate-Cut Cycle Is Over, Hints at Possible Hikes Bank of Korea Deputy Governor Yoo Sang-dae said it may be time to consider shifting monetary policy toward an interest-rate hiking cycle. Yoo, in Samarkand, Uzbekistan, for the Asian Development Bank’s annual meeting, made the remarks during a May 3 (local time) briefing with a traveling press pool. He said the economy has been stronger than expected and inflation is likely to run higher than forecast. “Monetary policy moves in cycles,” Yoo said. He described the rate trend as having been in a downward cycle since October 2024, adding that through the end of last year many on the Monetary Policy Board believed one more cut could end the easing cycle, followed by a shift to hikes at an appropriate time. The central bank cut rates twice last year, in February and May, and has since kept them on hold. Yoo said the war in the Middle East this year changed the outlook. He said an oil shock from the conflict pushed up prices while hurting growth, creating a “stagflation-like” situation. But he said growth later improved as a semiconductor upcycle strengthened exports and government stimulus helped revive consumer sentiment. As a result, he said, growth appears resilient while upward pressure on inflation has intensified. “The economy doesn’t seem as weak as we initially thought, and in my personal view monetary policy may shift from cuts to a hiking cycle,” Yoo said. He added that data since April suggest growth will not fall below the forecast of 2.0%, while inflation is likely to exceed the 2.2% projection. “Now is the time to stop cutting and consider hikes,” he said. Yoo also signaled changes to the central bank’s dot plot, which shows the projected rate path. He said the war broke out between February and April and conditions have changed significantly, so there is no need to cling to the previous dot plot. If growth and inflation conditions are confirmed by the May policy meeting, he said, there is “plenty of room” for the dot plot to move higher than in February. He said views may differ on whether to focus on the highest point in the distribution or the most frequently marked points such as the average or median, but the overall probability distribution could rise. With uncertainty high and changing daily, he said, the bank needs to watch developments over the next two weeks, but the policy statement would show a different distribution. On the exchange rate, Yoo said the market’s decisions should be respected but the won’s level appears out of line with fundamentals. He said foreigners often ask why the exchange rate is high when South Korea has relatively strong growth, a current account surplus and solid exports. “It is clearly true that the exchange rate level is high compared with the past,” he said. Still, he said the market does not appear to see major problems with the won trading in the 1,470 to 1,480 per dollar range, and he understands there are no concerns about worsening foreign-currency liquidity or capital outflows. Yoo also maintained an optimistic view on concerns that export strength is overly concentrated in semiconductors. He said he worries less about the sector’s large share than about what happens when the semiconductor cycle turns down. With expectations growing that the current semiconductor cycle could last considerably longer than in the past, he said, those concerns have eased. Comparing growth with Taiwan, he said South Korea, unlike an economy concentrated in semiconductors, has a broader industrial base including autos, shipbuilding and steel, expressing confidence in the economy’s scale.* This article has been translated by AI. 2026-05-04 10:03:24

Daewoo E&C Unveils ‘SUMMIT Silo’ Garden at 2026 Seoul International Garden Show Daewoo Engineering & Construction has unveiled its corporate companion garden, “SUMMIT Silo,” at the 2026 Seoul International Garden Show at Seoul Forest, showcasing the philosophy of its high-end housing brand, SUMMIT. The company said May 4 that it joined the show, which opened May 1, and built the “SUMMIT Silo” garden at a point in Seoul Forest where major pedestrian routes intersect. The name combines “Silence,” meaning calm, and “Silo,” meaning a storage facility. This year’s fair is being held under the theme “Seoul, Green Culture: A garden city where nature and urban culture coexist,” linking Seoul Forest with the Seongsu-dong area. The event spans 710,000 square meters and aims to attract 15 million visitors from Korea and abroad. According to the show’s official introduction, “SUMMIT Silo” sits at the end of Seoul Forest’s main axis and is intended as a space that holds time, nature and experience. Designed around a circular structure inspired by the flow of paths in Seoul Forest, the garden reflects SUMMIT’s brand message of “a moment of achievement enjoyed at the peak of life.” It is arranged so visitors feel a calmer atmosphere as they move inward, away from outside noise. Global landscape architecture firm Grant Associates participated in the project. The firm is known for projects including the Supertree Grove at Gardens by the Bay in Singapore. Daewoo E&C said it used the firm’s design experience to create a space where structures blend with Seoul Forest’s natural scenery. The garden features lighting effects linked to SUMMIT brand audio, and a floating deck structure intended to improve accessibility. Inside the tree- and plant-lined space, a lounge area and shaded shelters were installed so visitors can linger as if in an urban lounge. Daewoo E&C also took part in the Seoul International Garden Show last year, when it presented a Prugio garden reflecting the brand philosophy of “the inherent nobility of what is natural.” A Daewoo E&C official said the garden was created as “a high-quality resting space where any citizen can stay comfortably,” while preserving Seoul Forest’s existing woodland landscape and ecological value. The official added, “We hope citizens will have time for relaxation and reflection in a space set one step apart from outside noise,” and said the company would continue to seek and introduce a range of brand promotion activities that can be shared with the public.* This article has been translated by AI. 2026-05-04 10:00:16

BTS album Arirang maintains top five presence on Billboard 200 for sixth week SEOUL, May 04 (AJP) - K-pop band BTS extended its run on the United States music charts as its fifth studio album, Arirang, remained in the top five of Billboard 200 for its sixth consecutive week. The release continues to draw engagement from physical sales and digital streaming. Most high-profile albums typically see sharp consumption declines after initial debut weeks. The album moved 56,000 equivalent album units for the week ending May 3, according to Billboard. Data represents a one-spot decline from the previous week, and places a record at number 5. Billboard 200 measures overall consumption by combining traditional retail sales with units generated from digital track downloads and audio streaming. Arirang has set several benchmarks for South Korean music since its March release. It became the first K-pop album to spend three consecutive weeks at number 1. Full chart rankings are scheduled for update on the official Billboard website on Tuesday. 2026-05-04 09:59:04

SK Hynix Hits Record High as Chip Stocks Rally; Samsung Electronics Gains SK Hynix shares hit a record high on the 4th, as buying interest grew on strong results from global big tech companies including Apple and expanded investment in AI production facilities. According to the Korea Exchange, SK Hynix was trading at 1,353,000 won as of 9:47 a.m., up 67,000 won (5.21%) from the previous session. The stock rose as high as 1,364,000 won during the session, setting an all-time high. Samsung Electronics was up 4,000 won (1.81%) at 224,500 won at the same time. The gains appeared to reflect, all at once, a tech-led rally in New York that continued while South Korea’s market was closed for the Labor Day holiday. The Philadelphia Semiconductor Index rose 2.26% on the 30th of last month and 0.87% on the 1st of this month. Apple posted net profit on the 30th (local time) that beat market expectations. Five of the so-called Magnificent Seven companies reported earnings, and all topped forecasts. Big tech companies also raised their annual AI production-facility investment plans. That helped lift expectations for a memory upcycle, spreading optimism across the sector.* This article has been translated by AI. 2026-05-04 09:58:59

Samsung Electronics Replaces TV Business Chief, Names Marketing Veteran Lee Won-jin Samsung Electronics has abruptly replaced the head of its TV business. Samsung said May 4 that Lee Won-jin, president and head of global marketing for the Device eXperience (DX) division, was appointed head of the DX division’s Visual Display (VD) Business and will also lead the Service Business Team. Yong Seok-woo, who had led the Visual Display Business, will move to a role as an adviser to the head of the DX division. Samsung described Lee as an expert in content, services and marketing, crediting him with helping build key foundations for Samsung’s TV and mobile services businesses and strengthening global competitiveness. “Based on the business experience and market understanding he has built up, we expect Lee to work to strengthen the competitiveness of the TV business,” Samsung said. Lee is also expected to help lead a turnaround in TV business performance and identify new future growth engines. As adviser to the DX division head, Yong will provide guidance on future technologies across the home appliance business. Samsung said he is expected to play a role in key technology areas such as AI and robotics, drawing on his research and development expertise and business experience. 2026-05-04 09:58:10