Samsung C&T Construction Q1 Operating Profit Falls 30% to 111 Billion Won Samsung C&T Corp.’s construction division said April 29 that its first-quarter operating profit fell 30.1% from a year earlier to 111 billion won. Revenue for the quarter slipped 5.7% to 3.413 trillion won, it said. A company official cited one-time costs and the completion of major projects as reasons revenue and operating profit declined from a year earlier. The official said results are expected to improve gradually as key businesses continue to move forward steadily. For Samsung C&T overall, the company reported revenue of 10.466 trillion won and operating profit of 720 billion won. Another company official said the firm maintained solid results despite an uncertain business environment, including geopolitical risks, and the impact of one-time costs, citing a diversified business portfolio and competitiveness.* This article has been translated by AI. 2026-04-29 16:34:00

Ador seeks property seizure as Danielle and Min Hee-jin face deepening legal rift SEOUL, April 29 (AJP) - Ador has secured a provisional attachment on the real estate assets of former NewJeans member Danielle, her mother, and former chief executive Min Hee-jin as the legal fallout from the K-pop industry’s most high-profile corporate schism intensifies. According to Legal sources, the court filing was confirmed on Wednesday, ahead of a full-scale trial scheduled for May, and would represent a tactical shift by the Hybe-owned label to freeze the financial resources of its former star artist and executive leadership. The move underscores the volatile transition of NewJeans from a unified global chart-topper to a fractured group caught in a precedent-setting battle over corporate control and creative independence. At its core, the dispute tests the durability of the multi-label model pioneered by Hybe, demonstrating how the intense loyalty between artists and their creative directors can destabilize the financial foundations of billion-dollar entertainment conglomerates. The conflict traces back to April 2024, when Hybe launched an unexpected audit of Ador, its subsidiary label founded by Min. Hybe accused the former executive of orchestrating a plan to seize independent control of the label and its primary asset, NewJeans, by seeking outside investment and leaking confidential business data. Min denied the allegations, characterizing the audit as a retaliatory strike after she raised concerns that another Hybe-managed group had plagiarized the artistic concept of NewJeans. The ensuing months were marked by a series of public press conferences and court injunctions that divided the K-pop industry and its global fanbase. While a Seoul court initially blocked Hybe’s attempt to fire Min as chief executive, citing a lack of evidence for actual implementation of a takeover, the corporate relationship remained untenable. By late 2024, Min was replaced as chief executive, leading to a direct confrontation between the members of NewJeans and the new Ador management. The members of the group, known for their distinct Y2K-inspired aesthetic and massive streaming success, took the unprecedented step of airing their grievances in a live broadcast, demanding the reinstatement of their former Ador chief. This internal friction eventually led to the departure of Danielle, also known as Mo Ji-hye, who has since aligned herself with Min’s newly established venture, OK Records. The upcoming May proceedings are expected to address the broader financial claims leveled by Ador, which has sought damages for what it describes as catastrophic disruption to the group’s activities. The real estate attachment serves as a legal guarantee to ensure that any potential financial penalties can be collected if the court rules in favor of the label. Lawyers representing Min and Danielle have not issued a formal statement regarding the specific property filings. The Seoul Central District Court is expected to begin hearing oral arguments on the merit of the underlying damages claim within the next month. 2026-04-29 16:33:49

LG Electronics Cites Uncertainty, Plans B2B, Subscription and Online Push LG Electronics said on April 29 that external uncertainty, including the war in the Middle East and concerns about U.S. inflation, has delayed a recovery in consumer sentiment and weighed on revenue. The company said operating profit faced pressure from some higher raw material prices and the impact of tariffs that intensified in the second half of last year, but it is maintaining solid profitability by expanding higher-margin businesses. LG Electronics said uncertainty will remain high in the second quarter, citing volatility in U.S. tariff policy and the possibility that interest-rate cuts could be delayed. It added that the war in the Middle East and rising prices make it difficult to expect a demand rebound. As a response, the company said it will strengthen its product lineup and expand its B2B, subscription and online businesses. LG Electronics said it will continue revenue growth by stepping up its push into Global South markets, focusing on the fast-growing B2B, subscription and online segments. On its vehicle components business, LG Electronics said a clear recovery in global automaker demand is likely to remain limited for the time being. It said it will respond to market volatility by expanding mass production for new projects and reshaping its portfolio toward higher value-added products. The company added that it plans to sustain profit-based growth by focusing on strategic customer collaboration and cost efficiency.* This article has been translated by AI. 2026-04-29 16:33:15

LG Electronics pivots to subscriptions, auto as profit engine strengthens SEOUL, April 29 (AJP) - LG Electronics is weathering a global spending slowdown by rapidly expanding subscription-based rentals for premium home appliances and scaling its vehicle solutions business, as demand grows for smarter mobility and recurring revenue models, its quarterly breakdown showed Wednesday. The first-quarter results underscored a structural shift in earnings quality, with high-margin recurring income from appliance subscriptions and a solid order backlog in the vehicle component solutions (VS) unit helping buffer the company against macro headwinds and rising raw material costs. Headline figures were unchanged from earlier guidance, with record quarterly revenue of 23.73 trillion won and operating profit of 1.67 trillion won. Beneath the surface, however, the VS division emerged as a key driver, with operating margin climbing above 6 percent — reinforcing its role as a core profit pillar alongside the home appliance business. The shift, analysts say, reduces LG’s traditional exposure to cyclical swings in consumer electronics. Business-to-business operations are gaining weight, now accounting for 36 percent of total revenue. B2B sales rose 19 percent on-quarter to 6.5 trillion won, supported by expansion into industrial cooling systems for AI data centers and electric vehicle components. The Home Appliance & Air Solution (HS) unit also showed resilience, maintaining an 8.2 percent operating margin despite U.S. tariff pressure and a weaker Korean won. Growth was driven by subscription-based sales, which rose 15 percent on-year and 8 percent on-quarter, as LG accelerates the model across emerging markets to secure steadier cash flow. Looking ahead, the company is positioning for the AI infrastructure cycle by expanding its Eco Solution (ES) portfolio, particularly advanced liquid cooling systems for global data centers. “The first-quarter results have effectively confirmed a recovery in profitability across core businesses,” said Jeong Min-gyu, an analyst at Sangsangin Investment & Securities. “Expectations are rising as commercialization of robot actuators and chiller orders for AI data centers gains visibility.” 2026-04-29 16:31:33

Iran War Nears 60-Day War Powers Deadline as Congress Weighs Role The U.S.-Israeli war against Iran is nearing a 60-day deadline, raising uncertainty over whether Congress will step in and how President Donald Trump may proceed. CNN and Al Jazeera reported that the conflict will reach its 60th day on May 1, counted from when Trump formally notified the start of the war. Under the 1973 War Powers Act, a president must obtain congressional approval to continue military operations beyond 60 days. How Congress responds is expected to be pivotal. Analysts have also pointed to past cases — including the Clinton administration’s Kosovo air campaign and the Obama administration’s Libya strikes — in which administrations continued operations without approval by narrowly interpreting what qualifies as “hostilities.” So far, Congress has shown little momentum. Republicans, who hold narrow control of both chambers, have repeatedly blocked resolutions aimed at limiting Trump’s military authority, and open opposition to the war has remained limited. Political risks are growing ahead of November’s midterm elections, with concerns that the war and its economic costs could hurt Republicans. U.S. public opinion has also soured. In a Reuters-Ipsos poll, 26% said the operation was worth its cost, and 25% said it made the United States safer. Some observers say a Republican-led Congress may avoid forcing the issue and allow the war to drag on. Henry Olsen, a senior fellow at the Ethics and Public Policy Center in Washington, told Al Jazeera, “They (Republican lawmakers) will want to avoid this vote by any means possible.” White House spokesperson Anna Kelly rejected that criticism, telling Military.com that Trump had briefed Congress transparently even before “Operation Epic Fury” began and that administration officials have provided more than 30 bipartisan briefings for lawmakers. Trump’s next steps remain unclear. Reuters, citing U.S. government officials, reported that intelligence agencies are analyzing how Iran might respond if Trump unilaterally declares victory after about two months of war. The report said the work is meant to gauge the fallout if Trump pulls back, as some officials and advisers worry the conflict could lead to a major Republican defeat in the midterms. No specific decision has been announced, but Trump could still resume or expand military operations if he deems it necessary. A rapid easing of tensions could reduce political pressure, while critics warn it could allow Iran to rebuild nuclear and missile capabilities and expand regional influence. Maintaining a maritime blockade is also being discussed as a pressure tool. The Wall Street Journal, citing sources, reported that Trump has instructed aides to prepare to extend the blockade, describing it as a lower-risk option than restarting airstrikes or declaring an early end to the war. The prolonged conflict is also battering Iran’s economy. The U.N. Development Programme projected that up to 4.1 million more people could fall into poverty. Hadi Kahalzadeh of the Quincy Institute said “50% of all jobs in Iran are at risk,” and that an additional 5% of the population could fall into poverty. Trump wrote on his social media platform Truth Social that Iran had just told the United States it was in a “State of Collapse,” adding that Iran wanted the Strait of Hormuz opened “as soon as possible” as it tried to resolve leadership issues. As U.S.-Iran talks on ending the war struggle to gain traction, CNN reported that Pakistani mediators expect to receive Iran’s revised negotiating proposal within days. 2026-04-29 16:28:29

Doosan to Invest 180 Billion Won to Build CCL Production Base in Thailand for AI Demand Doosan Corp. is setting up a new production base in Thailand to get ahead of rising demand for copper-clad laminate, or CCL, driven by the expansion of artificial intelligence data centers. The company said Tuesday it will establish a new local entity and build a CCL plant at the Araya Industrial Park in the Bang Bo area of Samut Prakan province. Total investment will be about 180 billion won. The site will cover about 73,000 square meters. Doosan plans to break ground within this year and aims to begin mass production in the second half of 2028. It said it will consider phased capacity expansions in line with demand to improve investment efficiency. The Thailand plant will mainly produce high-performance CCL for AI infrastructure and network equipment, the company said, adding it expects strong growth as global demand expands. Doosan cited logistics and operational stability as key reasons for choosing the site. The industrial park is about a 30-minute drive from Suvarnabhumi International Airport and about an hour from Laem Chabang port. The company also said the newer complex has operating infrastructure and disaster-response systems that support stable production. CCL is a sheet made by laminating copper foil onto both sides of an insulating material and is a core base material for printed circuit boards, or PCBs. Doosan said AI accelerators, which must process massive amounts of data at very high speeds, require high-performance CCL that minimizes signal loss and resists deformation in high-temperature operating environments. As investment in AI data centers grows worldwide, demand for high-performance CCL is rising rapidly, it said. Doosan said it has built competitiveness in CCL on materials technology accumulated over the past 50 years, including an edge in designing the “optimal composition ratio” among materials that determines CCL quality. “We decided to expand production capacity to respond in a timely way to growing CCL demand,” a Doosan official said. “We will monitor market conditions and flexibly review whether additional investment is needed.”* This article has been translated by AI. 2026-04-29 16:23:20

Finance Ministry Holds 4th Strategic Economy Advisory Panel Meeting on AI Shift The Ministry of Finance and Economy said it held the fourth meeting of the Strategic Economy Advisory Panel’s steering committee on the 28th at the Government Complex Seoul, chaired by Park Young-sun, head of the panel. Launched on the 13th, the panel has been identifying field-focused policy tasks tied to strategic industries. Over about two weeks, it convened both the steering committee and subcommittees to continue work on selecting key assignments. At the meeting, members discussed priority projects to respond to what the ministry called a major shift driven by artificial intelligence. Advisers said that amid changes in the external environment and a technology paradigm shift, the government should expand cross-ministry coordination and broaden private-sector participation to strengthen the competitiveness of domestic industries. Earlier, the panel added a new “AI agent commerce” subcommittee to its existing six, citing the growing importance of commerce applications using AI agents. Min Kyung-seol, head of the Office for Innovative Growth, asked advisers to “propose specific tasks so that strategic industries can grow into industries that will drive growth for the next 50 years.” The ministry said it will consult with relevant ministries on projects proposed by the panel and continue holding meetings to identify policy tasks.* This article has been translated by AI. 2026-04-29 16:22:39

South Korea launches new homegrown frigate with delivery slated for next year SEOUL, April 29 (AJP) - A launch ceremony for a new homegrown frigate with enhanced anti-air and anti-submarine capabilities was held in Goseong, South Gyeongsang Province on Wednesday. The ceremony for the Jeju, named after the country's southern resort island, was held at SK Oceanplant's shipyard, about a year ahead of its planned delivery to the Navy slated for June next year, according to the Defense Acquisition Program Administration (DAPA). The 3,600-ton frigate is intended to replace aging frigates and patrol combat corvettes (PCC) currently in service and will be deployed combat-ready after completing trial operations. Measuring about 129 meters in length, 14.8 meters in width, and 38.9 meters in height, the Jeju is equipped with a 5-inch gun, anti-ship and missile defense guided missiles, ship-to-ship guided missiles, tactical ship-to-surface guided missiles, and long-range anti-submarine torpedoes. The frigate's integrated sensor mast is fitted with infrared search-and-track systems and a locally developed multifunction phased-array radar. The radar provides 360-degree coverage, enabling it to detect and track both air and surface targets while responding to multiple threats simultaneously. "This is a decisive moment to strengthen our resolve to self-reliant defense and military readiness," said Joint Chiefs of Staff chairman Jin Young-seung, who attended the event. He added that the military is pushing to modernize its capabilities by embracing new technologies such as artificial intelligence (AI), drones and unmanned vessels. He also vowed to protect lives and property and preserve peace on the Korean Peninsula by building a "military trusted by the people." Wednesday's event was attended by about 150 high-ranking military officials and other guests including Navy Chief of Staff Kim Kyung-ryul and SK Oceanplant CEO Kang Young-gyu. 2026-04-29 16:22:01

China Halts New Level 4 Self-Driving Permits After Baidu Robotaxi Disruption China has reportedly suspended new permits for Level 4 (highly automated) self-driving vehicles, including robotaxis, after a major service disruption involving Baidu’s Apollo Go in Wuhan. The move is expected to slow the rollout of new vehicles, new pilot programs and expansion into additional cities. Bloomberg reported on the 29th that three government agencies, including the Ministry of Industry and Information Technology, held a meeting earlier this month with local officials running robotaxi or autonomous-driving pilot programs. The agencies called for comprehensive self-inspections and stronger safety monitoring, the report said, in an effort to prevent similar incidents after the Wuhan disruption. Reuters previously reported on the 14th that Chinese authorities ordered self-inspections and tighter supervision of road tests and pilot operations for intelligent connected vehicles. The measures restrict autonomous-driving companies from adding new robotaxis to their fleets, launching new pilot programs or expanding services to other cities. It is not yet clear how long the suspension will last. The immediate trigger was a disruption on March 31 in Wuhan involving Apollo Go. Citing Chinese media, Bloomberg said more than 100 Apollo Go robotaxis stopped on city roads. Reuters reported that local police attributed the incident to a system malfunction. Baidu has not publicly disclosed the exact cause. Apollo Go is China’s largest robotaxi operator, running hundreds of vehicles in more than 12 cities. Bloomberg said this is at least the second time Chinese authorities have paused new permits tied to a Baidu-related issue. In late 2024, approvals were frozen for several months after Wuhan residents pushed back against the spread of robotaxis, and the process resumed only in early 2025, the report said. Concerns about taxi-driver job losses were cited as a factor behind the opposition. Bloomberg also reported that Baidu’s robotaxi operations in Wuhan were halted during the authorities’ investigation. MIIT, the Ministry of Public Security and the Ministry of Transport did not respond to requests for comment, and Baidu did not immediately respond, Bloomberg said. Separately from the permit suspension, existing services are continuing. Pony.ai said its services in Beijing, Shanghai, Guangzhou and Shenzhen are operating normally, and preparations to enter Changsha and Hangzhou are proceeding as planned. WeRide said it supports efforts to strengthen safety standards and that its services in China are operating normally.* This article has been translated by AI. 2026-04-29 16:21:20

Budget Office Seeks Strategic Fiscal Investment to Boost Key Industries South Korea’s Planning and Budget Office said it will prepare fiscal investment measures to strengthen the competitiveness of key industries. The office made the announcement at a meeting held on the 29th at the Seoul Regional Procurement Service to discuss “strategic fiscal investment measures to strengthen industrial competitiveness.” The meeting was convened as global technology competition intensifies around advanced industries such as semiconductors and artificial intelligence, and as supply-chain instability grows amid the war in the Middle East. The government said it plans to reflect views from industry as it specifies future budget planning and fiscal support priorities. Participants agreed that, with global competition escalating, the government needs to make proactive and active fiscal investments to help companies maintain competitiveness. Hong Seong-uk, head of the Industrial Data Analysis Office at the Korea Institute for Industrial Economics and Trade, said growth has continued on the back of strong exports in semiconductors and defense. But he warned that risks remain, citing stronger protectionism, external uncertainty including the Middle East war, and expanded investment in advanced industries centered on the G2. He said it is “a time when a cooperative response between the government and companies is needed.” Industry representatives also called for tailored responses by sector. Kim Kyung-hee, a vice president at Samsung Heavy Industries, said shipbuilding faces both crisis factors from China’s catch-up and opportunities such as South Korea-U.S. cooperation in shipbuilding. She emphasized that active government support is needed to secure future technology competitiveness, including in eco-friendly ships. Cho Yong-beom, director general of the Budget Office at the Planning and Budget Office, said the world is at a turning point where countries are being asked to play a more active role as investors. He said the office will use feedback from the field to address corporate difficulties in advance and prepare fiscal investment measures to strengthen key industries’ competitiveness. The Planning and Budget Office said it will consult with relevant ministries, based on the meeting’s results, to draw up specific fiscal support measures.* This article has been translated by AI. 2026-04-29 16:19:12