LG CNS Q1 operating profit surges 19 pct on AI, cloud growth SEOUL, April 30 (AJP) - South Korean IT services firm LG CNS posted first-quarter operating profit of 94.2 billion won ($63.4 million), up 19.4 percent from a year earlier, as surging demand for artificial intelligence and cloud services fueled growth across its business lines. According to regulatory filing released Thursday, revenue for the January to March period climbed 8.6 percent on-year to 1.315 trillion won, with the company's AI and cloud division accounting for about 58 percent of the total at 765.4 billion won. The segment grew 6.7 percent year-on-year, buoyed by the expansion of agentic AI-based multi-agent services into defense, finance, manufacturing and biopharmaceuticals. Net profit jumped 41.2 percent to 80.9 billion won, while the operating margin widened 0.7 percentage points to 7.2 percent. "Despite heightened global uncertainty stemming from U.S.-Iran geopolitical risks, energy price volatility and swings in interest rates and exchange rates, LG CNS expanded its external business on the back of solid technology and execution capabilities," said CFO Song Kwang-ryun said during an earnings call. Its digital business services division recorded revenue of 321.9 billion won, a 11.9 percent year-on-year rise driven by next-generation IT system buildouts for major financial institutions including NH NongHyup Bank and Shinhan Investment. The smart engineering segment also gained 10.4 percent to 227.8 billion won on the back of factory automation and logistics projects. The company is also betting on physical AI, investing in U.S. robotics firm Dexmate to build a lineup spanning bipedal humanoids, quadrupeds and wheeled robots, and plans to publicly launch a proprietary robot training platform next month. Its first overseas AI data center in Indonesia is slated for completion by year-end. LG CNS has moved to ride the broader AI boom by forging partnerships with global heavyweights such as OpenAI and Palantir, supplying ChatGPT Enterprise to about 10 corporate clients since February while co-developing high-value AI projects through a joint engineering team with the U.S. data analytics firm. Shares of LG CNS traded at 66,000 per stock at 10:00 a.m., 1.05 percent lower than the day before. 2026-04-30 10:03:23

Welcome, KB Savings Bank Receivables Loan Fraud Exposes Oversight Gaps The accounts receivable-backed loan fraud tied to auto parts transactions at Welcome Savings Bank and KB Savings Bank is difficult to dismiss as a routine financial incident. The cumulative volume handled reached 300 billion won, and estimated losses are around 100 billion won. More troubling, the case exposed weak links in the financial system, showing what can happen when regulatory loopholes and on-the-ground control failures collide. The causes should be stated clearly. The first responsibility lies in how the system was designed. Treating auto repair estimates as accounts receivable and issuing loans on that basis was intended to ease cash shortages for small and midsize firms. But once such claims were accepted as “paper-based receivables” without sufficiently verifying the underlying transactions, the door to fraud was already open. Assuming a transaction is genuine simply because a system exists was a structural vulnerability. A second problem was layered on top: weak screening and oversight by financial companies. Receivables financing is not a simple collateral loan. It requires verifying both whether the transaction is real and whether repayment is likely. Even so, some lenders relied too heavily on system data and failed to closely examine individual deals. Responsibility also lies in not filtering out warning signs during efforts to expand business. The door was open, and controls were loose. The core tactic in the case — using special purpose companies to evade lending limits — also cannot be brushed aside. Splitting entities to avoid rules on loans to the same borrower is a long-used technique. The problem was the failure to screen out in advance that this “formal dispersion” often points to the same underlying party. Paper checks alone cannot block such structures. Any remedy must be designed on two tracks. First, a verification system to determine whether transactions are real. The article calls for linked data that can cross-check the full chain — Insurance Development Institute estimates, actual repairs and insurance payouts. Second, a management system that tracks the true borrower. Loans should be consolidated and managed based on the ultimate controlling party, not just corporate names. Only when transaction verification and borrower tracing work together can structural fraud be prevented. The case also raises questions about what “trust” means in finance. The industry has long operated on trust built on systems and documents. This episode shows how easily trust collapses without verification. What is needed, the article argues, is trust grounded in checks — built through data and cross-verification. At the same time, presenting tougher regulation as the only answer carries risks. Receivables-backed lending was created to support small and midsize firms that struggle to raise funds. If screening standards and procedures are tightened across the board, companies that genuinely need financing could be pushed out. The goals of blocking crime and maintaining access to credit can conflict. The article calls for more precise, differentiated rules. Procedures could be simplified for strong firms with established transaction histories, while new deals or cases showing risk signals would face stricter review. Linking public and private data could also reduce verification costs while improving accuracy. The goal should be a system that targets risk, not one that shuts every door. Regulators also have a key role. The Financial Supervisory Service should go beyond inspections of individual firms and overhaul standards for receivables financing more broadly, the article says. It urges adoption of new supervisory tools, including data linkage, consolidated borrower management and systems to detect unusual transactions. As the financial environment changes, oversight methods must change as well. Ultimately, the case is a reminder of financial fundamentals: Finance runs on trust, but that trust holds only when backed by rigorous verification. Closing loopholes, strengthening accountability in the field and balancing regulation with access are necessary to prevent a repeat. More important than immediate losses, the article concludes, is restoring damaged trust. It calls for a fundamental review of the foundations of receivables financing in the wake of the case.* This article has been translated by AI. 2026-04-30 10:00:33

Queen Camilla Meets Sarah Jessica Parker at New York Public Library Event After two days in Washington, King Charles III and Queen Camilla traveled to New York, drawing a lineup of public figures including New York City Mayor Zoran Mamdani. Local media including The New York Times reported that on April 29 (local time), Charles visited the 9·11 Memorial in Lower Manhattan. At the memorial pools, the king and queen paid tribute to the victims and laid flowers. Michael Bloomberg, chairman of the memorial, stood with Charles during the wreath-laying. Charles’ appearance also highlighted the 67 Britons who died in the Sept. 11 attacks, now at the 25th anniversary. The New York Post reported that Mamdani attended and greeted the king. Before the event, Mamdani had told reporters he would ask Charles to return the Koh-i-Noor diamond, which he said Britain took from India. The ceremony ended without incident, and Mamdani stayed about an hour before leaving, the reports said. Camilla held a separate event at the New York Public Library to promote literacy. The New York Times said the library’s holdings include a copy of the Declaration of Independence, a 1775 map of New York City, and a letter written in 1812 by Jane Austen (1775-1817), whose 250th birth anniversary was marked last year. Camilla read “Winnie-the-Pooh” to children at the event. Sarah Jessica Parker, the star of the U.S. television series “Sex and the City,” accompanied Camilla during the library visit. People magazine reported that Camilla, a longtime supporter of reading who has founded a charity to promote books, and Parker, who has focused on literacy efforts, share common interests. Vogue editor Anna Wintour and Jenna Bush Hager, a news anchor and daughter of former U.S. President George W. Bush, also attended. Page Six, an entertainment outlet, described the gathering of Camilla, Parker and Wintour as looking like “a scene from ‘Sex and the City.’” The New York Times reported, however, that Charles and Camilla were not expected to meet Prince Harry and his wife, Meghan Markle, during the U.S. trip, saying the king’s schedule included no separate plan to see Harry. Buckingham Palace declined to comment. Harry said in a statement that a state visit is a tightly scheduled working trip funded by British taxpayers, adding that it would be neither expected nor possible to add personal engagements. 2026-04-30 09:58:53

Star Alliance Opens New Lounge at Guangzhou Baiyun Airport Terminal 3 Asiana Airlines said Thursday that Star Alliance, the airline group it belongs to, officially opened a dedicated lounge on April 28 at the new Terminal 3 of Guangzhou Baiyun International Airport in China. The new facility is Star Alliance’s second lounge in Guangzhou, following its first location opened in 2024. The lounge covers about 1,400 square meters (about 15,070 square feet) and has 245 seats. It also includes a 700-square-meter (about 7,535-square-foot) outdoor garden, designed to let passengers relax in a natural setting before boarding. The lounge operates 24 hours a day and includes dedicated rest areas, sleeping capsules, private rooms and a work zone, the airline said. An opening ceremony at Terminal 3 was attended by Ambar Franco, Star Alliance vice president for customer experience, and Chi Yaoming, deputy general manager of Guangzhou Baiyun International Airport, along with representatives from member airlines and the airport. “Lounges are a key element in delivering a smooth and comfortable journey for our member airlines’ customers,” Franco said. “In line with Guangzhou’s growing role as an international hub, this lounge offers more space and upgraded facilities to provide a distinct level of comfort.” Star Alliance said the design reinterprets Guangzhou’s Lingnan culture and natural scenery in a modern style, with a centerpiece inspired by the city flower, the kapok. The lounge also offers a tea experience area run by a professional tea artist. Food options were developed in collaboration with Pullman Hotel and include Chinese and Western dishes, the airline said. The lounge is available to first- and business-class passengers on Star Alliance member airlines departing from Terminal 3, as well as Star Alliance Gold members. A total of 10 Star Alliance member airlines, including Asiana Airlines, Air China and ANA, currently serve Guangzhou Airport. The alliance operates more than 1,500 flights a week from Guangzhou, connecting 52 cities in 10 countries, Asiana said.* This article has been translated by AI. 2026-04-30 09:53:51

HDC Labs Presents AI-Driven Golf Course Management Platform GDX at 2026 AI Service Trends Conference Space AIoT platform company HDC Labs, led by CEO Lee Jun-hyeong, presented a case study on AI-based service innovation. At the '2026 AI Service Trends Conference' held on April 29, HDC Labs introduced its GDX platform, describing how it has shifted golf course operations from experience-based decisions to a data-driven management system. The conference, themed "Digital transformation and innovation completed by AI services," was organized to share real-world operating cases and key AI technology trends, centered on winners of the 2025 AI Service Awards. Working-level leaders from award-winning projects and industry executives presented service results and operating strategies. Sessions covered AI-based golf course management, high-performance AX strategies and AI security, along with practical know-how for deploying AI services in the field. Special lectures also addressed changes in an era of AI collaboration, as well as AI service startups and success cases. HDC Labs said GDX won the grand prize in the AI service category at i-AWARDS KOREA 2025, a domestic digital and AI awards program. The company said the platform was recognized for its innovation and completeness, including drone-based remote course inspection technology that supports digitalized course management. The company said GDX is built around AI-based turf data inference. Using more than three years of drone and multispectral data, HDC Labs developed algorithms to quantify turf conditions and signs of disease and to forecast future conditions through time-series analysis. HDC Labs said the approach enables proactive management rather than after-the-fact responses, helping improve turf quality and reduce operational risk. The company said GDX is being used at operating golf courses. It has deployed the platform at major golf courses at I'Park Resort, which has 90 holes in South Korea, and is integrating and managing large-scale turf data at Seongmunan CC and Oak Valley CC to help maintain premium course quality. "We will continue to expand the commercialization of GDX and keep setting a new standard for data-driven course management," said Park Jong-min, a managing director at HDC Labs' AIoT & Platform Lab.* This article has been translated by AI. 2026-04-30 09:52:56

Samsung Electronics Hits Intraday 230,000 Won, Sets 52-Week High on Strong Q1 Results Samsung Electronics climbed to a new 52-week high in intraday trading on strong semiconductor-driven earnings, while SK hynix also rose. According to the Korea Exchange, Samsung Electronics was trading at 229,000 won as of 9:33 a.m., up 3,000 won, or 1.33%, from the previous session. It briefly touched 230,000 won early in the session, setting a fresh 52-week high. The move followed the company’s earnings announcement, which lifted investor sentiment. At the same time, SK hynix was up 24,000 won, or 1.78%, at 1,317,000 won. Samsung Electronics said preliminary consolidated operating profit for the first quarter totaled 57.2328 trillion won, up 756.1% from a year earlier. Revenue rose 69.2% to 133.8734 trillion won, and net profit increased 474.3% to 47.2253 trillion won. The company said both revenue and operating profit were record highs on a quarterly basis, surpassing the previous peaks by a wide margin. By division, the Device Solutions (DS) semiconductor business posted revenue of 81.7 trillion won and operating profit of 53.7 trillion won, leading the gains. The Device Experience (DX) business, which covers finished products, reported revenue of 52.7 trillion won and operating profit of 3 trillion won.* This article has been translated by AI. 2026-04-30 09:51:50

Korean won opens weaker near 1,480 per dollar on prolonged Middle East supply fears The South Korean won opened weaker against the U.S. dollar on worries that energy supply disruptions tied to the Middle East could last longer than expected. As of 9:31 a.m. on April 30, the won was trading at 1,484.6 per dollar. It opened at 1,486.5, up 7.5 won from the previous session’s close. The move was attributed to rising demand for safe-haven assets as ceasefire talks between the United States and Iran remained stalled, fueling concerns over prolonged supply turmoil. Overnight, ICE Futures Europe said June Brent crude settled at $118.03 a barrel, up 6.1% from the prior session. Brent climbed as high as $119.76 intraday, its highest level since June 2022, about four years ago. On the New York Mercantile Exchange, June West Texas Intermediate crude settled at $106.88 a barrel, up 6.95%. U.S. stocks finished mixed as expectations for big tech earnings offset supply concerns. The Dow Jones Industrial Average fell 280.12 points, or 0.57%, to 48,861.81. The S&P 500 slipped 2.85 points, or 0.04%, to 7,135.95, while the Nasdaq composite rose 9.44 points, or 0.04%, to 24,673.24. Min Kyung-won, an economist at Woori Bank, said the won-dollar rate was likely to rise around 1,490 as higher oil prices and weaker risk appetite follow difficulties in U.S.-Iran negotiations. With WTI above $100 a barrel, he said, oil prices are a direct burden on the won.* This article has been translated by AI. 2026-04-30 09:50:28

KB Kookmin Bank, SSG.com Launch ‘Ssg KB Bank’ Financial Services in Shopping App KB Kookmin Bank and SSG.com are expanding cooperation by rolling out a “bank in platform” service that lets users access banking within the shopping app. KB Kookmin Bank said on the 30th it launched “Ssg KB Bank,” a comprehensive financial service designed for everyday use. In April last year, the Financial Services Commission designated SSG.com as an innovative financial service, allowing the nonfinancial platform to advertise and broker financial products. With the launch, customers can use KB Kookmin Bank services through SSG.com’s “Bank in Platform” financial section without switching to a separate app. The partners also introduced products tailored to shoppers. The “Ssg Money KB Account” offers an interest rate of up to 4.0% a year on balances up to 2 million won. When registered with SSGPAY, it automatically links as a “Ssg KB Money” payment method. Users can pay without separate top-ups and receive an additional 2% SSG Money accrual benefit. The “Ssg KB Shopping Savings” plan applies preferential rates based on shopping performance, offering rates from 2.0% to 5.0% a year before tax. Separate services were prepared for merchants on the platform. In a “merchant-only financial section,” the bank offers the “KB Boss Parking Account,” a demand deposit product, and a savings product. The parking account applies an interest rate of up to 2.5% a year before tax on balances up to 10 million won, while the savings product offers up to 6.0% a year before tax. Consulting services for small business owners are also provided. A KB Kookmin Bank official said the service was designed so customers can use shopping and financial services conveniently on a single platform, adding that the bank will continue expanding financial services that fit naturally into customers’ daily lives.* This article has been translated by AI. 2026-04-30 09:44:57

South Korea Foreign Ministry Replaces Senior Embassy Posts in Washington The Foreign Ministry on the 29th announced personnel changes affecting its North America line, including the head of its North American Affairs Bureau. In the reshuffle of some mission chiefs and director-general-level posts, the ministry appointed Lee Won-woo, currently a senior official in the North American Affairs Bureau, as the new director-general. Officials said the embassy in Washington is also expected to replace its minister-level economic and public diplomacy posts in the near future. Kim Sun-young, director-general for Bilateral Economic Diplomacy, is expected to take over as minister for economic affairs, and Yoon Ju-seok, director-general for Consular Affairs and Safety, as minister for public diplomacy. Both are expected to assume their posts next month, according to officials. The current officeholders, Ahn Se-ryeong and Kim Hak-jo, are expected to return to Seoul to work at ministry headquarters. The changes drew attention as sensitive issues between South Korea and the United States continue, including limits on sharing information related to North Korea and a dispute involving Coupang. A ministry official said the reshuffle included people who had served for a considerable period and reflected a routine personnel cycle. Some of those affected were appointed under the previous government and, due to fallout from martial law and other factors, had served well beyond typical terms, officials said. Observers said delayed personnel moves were carried out belatedly in this round. * This article has been translated by AI. 2026-04-30 09:44:07

Survey: More South Korean men say men are socially disadvantaged than say women are A new survey shows South Koreans sharply divided over how gender affects social standing. According to the “2026 Gender Perception Survey” released on the 29th by Korea Research, based on 1,000 adults nationwide ages 18 and older, 23% of men said women are socially disadvantaged — less than one in four. By contrast, 33% of men said men are socially disadvantaged. That was about three times the share of women who agreed with the same statement (11%). Views on whether society favors one gender also shifted. Overall, 34% said South Korea is a good place for women to live, compared with 29% who said it is more favorable to men. The survey said this was the first time perceptions of a women-friendly society exceeded perceptions of a men-friendly one. The gender gap in responses remained wide, especially among younger people, where gender conflict is more visible. Among women ages 18 to 29, 68% described South Korean society as “male-friendly.” Among men in their 40s and younger, more than 40% said society is “female-friendly,” more than 20 percentage points higher than women in the same age groups. Across all respondents, 37% said there is no difference between genders. Korea Research said the results make it difficult to conclude that one gender is overwhelmingly advantaged in society. Overall, the survey suggests that men and women experience and interpret gender realities differently in South Korea, with the divide most pronounced among younger generations.* This article has been translated by AI. 2026-04-30 09:43:15