U.S. Treasury chief touts Iran sanctions, says tens of billions in revenue blocked U.S. Treasury Secretary Scott Bessent highlighted what he called the results of sanctions targeting Iran’s finance, energy and logistics networks, reaffirming a policy of “maximum pressure.” With U.S.-Iran ceasefire talks stalled, Bessent has repeatedly pointed to economic sanctions in a public push. In a post Monday on X, Bessent said the Treasury Department, through an operation he called “Economic Fury,” targeted Iran’s international shadow financial infrastructure, access routes to cryptocurrency, the so-called “shadow fleet,” weapons procurement networks, funding channels for regional proxy forces, and independent Chinese “teapot” refineries that support Iran’s oil trade. He said the measures blocked “tens of billions of dollars” in revenue that could be used to finance terrorism. Bessent added that under the president’s “maximum pressure” policy, prices in Tehran have doubled and the currency has sharply weakened. Bessent also said Iran’s main crude export terminal, Kharg Island, is expected to near its storage limits, forcing the Iranian government to cut oil production. He said that could mean additional revenue losses of about $170 million a day and could cause permanent damage to Iran’s oil infrastructure. He said Treasury will continue the maximum-pressure campaign and warned that individuals, ships and institutions that help illegal flows of money to Tehran risk U.S. sanctions. A day earlier, Bessent warned that individuals or companies doing business with sanctioned Iranian airlines could also face sanctions. “Transactions with sanctioned Iranian airlines carry the risk of U.S. sanctions,” he wrote, urging governments to take steps to ensure their companies do not provide services — including jet fuel, catering, landing fees or maintenance. He said Treasury will maintain maximum pressure and would act against third parties that help or carry out Iran-related transactions, adding that individuals, ships and institutions supporting illegal funding flows to Tehran could be sanctioned. With ceasefire talks between the United States and Iran at an impasse, the United States appears to be increasing economic pressure on Iran in an effort to gain leverage in any future negotiations.* This article has been translated by AI. 2026-04-29 10:07:06

Samsung Display, LG Display win SID Display of the Year awards Samsung Display and LG Display said Tuesday they have each won the Society for Information Display’s “Display of the Year” award. SID is a leading global display industry conference that draws about 7,000 experts, researchers and professors. “Display of the Year” is the top honor among SID’s annual Display Industry Awards. Samsung Display was recognized for its tri-fold smartphone display, first unveiled last year, which the company said demonstrated both high performance and improved portability. SID announced the award Monday (local time), praising the tri-fold’s “immersive 10-inch large screen,” saying it opened new possibilities for productivity, creativity and entertainment. SID also said advanced materials helped maintain thickness while strengthening durability in the dual-folding structure. Samsung Display said the tri-fold module is 0.44 millimeters thick, the thinnest among its foldable panels, while offering strong durability. In internal folding tests, the company said the panel showed no screen issues after 500,000 folds at room temperature. The company also cited work to address “sliding,” a persistent issue in foldable panels that is known to worsen by up to 1.6 times in a tri-fold structure. Samsung Display said it developed a next-generation adhesive and applied an optimized stress-distribution design to improve durability. Lee Ho-jung, vice president and head of product planning for the small and medium display business, said the award again recognized Samsung Display’s technology leadership in the foldable market. He said the company was the first in the world to commercialize a multi in-folding display that folds inward twice, reaffirming the potential to expand the foldable market through new form factors. LG Display’s gaming OLED panel was also honored, with SID citing it as a shift in the gaming display paradigm, the company said. LG Display said its 27-inch 540/720Hz (DFR) OLED gaming monitor applies its proprietary “DFR” technology, allowing users to choose modes as needed. The high-refresh-rate mode is aimed at genres that require rapid screen changes, such as first-person shooters and racing games. LG Display said it delivers QHD resolution and a 540Hz refresh rate at the same time, providing a viewing experience optimized for graphics-intensive games. The panel also received VESA’s top-tier “ClearMR 21000” certification, LG Display said. Choi Young-seok, LG Display’s chief technology officer, said the company will continue to research and develop innovative OLED technology for gaming displays, building on its differentiated technical capabilities. The awards ceremony is scheduled to be held at Display Week 2026, the world’s largest display-focused exhibition, which opens May 3 in Los Angeles.* This article has been translated by AI. 2026-04-29 10:04:09

South Korea FTC to Revise Consumer-Centered Management Designation Rules South Korea’s Fair Trade Commission will revise terminology and procedures in its Consumer-Centered Management (CCM) business designation system, including renaming the certification review body as a designation review body and replacing “certificate” with “designation confirmation.” The FTC said April 29 it will accept public comments through June 8 on a proposed revision to the enforcement decree of the Framework Act on Consumers. The proposal follows amendments to the law promulgated in March. Under the plan, related terms will be aligned with the revised law: “certification review institution” will become “designation review institution,” “certificate” will be replaced by “designation confirmation,” and “certification work” will be changed to “designation review work.” The FTC will also elevate to the enforcement decree an existing notice requiring businesses to pay review fees directly to the Korea Consumer Agency. The designation review institution would be required to submit to the FTC each year a plan for how the fees will be used and a report on actual spending. The proposal also changes how members of the Consumer Policy Committee’s expert panel are selected. The current enforcement decree provides that government members must be senior officials or equivalent, and that private-sector members are appointed by the prime minister. The FTC said the process has been criticized as too rigid, making it difficult to run the panel quickly and flexibly. Under the revision, the requirement for nominating government members would be removed, and private-sector members would be appointed by the FTC chair rather than the prime minister. * This article has been translated by AI. 2026-04-29 10:03:19

Autopsy: 3-year-old in Yangju died from head injury caused by external force A 3-year-old child who died in a suspected abuse case in Yangju, south of Seoul, was killed by a head injury caused by an external impact, police said. Police said April 29 that the National Forensic Service concluded the boy, identified only as A, died of head trauma and that the injury appeared to have been caused by nonaccidental external force. The agency had earlier said in an initial verbal assessment that it was difficult to definitively determine whether the head injury was caused by abuse. The autopsy findings later clarified that the death resulted from an external impact. Investigators also found signs of bleeding in the child’s abdomen that appeared to have occurred in the past. Police said they will continue investigating the possibility the child was abused over an extended period. The child suffered a severe head injury at a home in Okjeong-dong, Yangju, at about 6:44 p.m. on April 9 and was taken to a nearby hospital. He underwent surgery for a brain hemorrhage but died five days later at about 11:33 p.m. on April 14. Gyeonggi Bukbu Provincial Police Agency said it arrested and forwarded the case on April 17, sending the child’s father, identified only as B, to prosecutors on suspicion of child abuse resulting in death. Police also searched the couple’s home and vehicle. During the investigation, police found messages exchanged by the couple over the past two years that they believe describe abuse of their son under the pretext of “discipline,” and are treating them as evidence of long-term abuse. B’s wife is being investigated without detention, with police citing that the family has multiple children. 2026-04-29 10:01:26

Choo Kyung-ho Resigns as Lawmaker to Run for Daegu Mayor, Vows to Rebuild Conservatives Choo Kyung-ho, the People Power Party’s candidate for Daegu mayor, said April 29 he submitted his resignation as a National Assembly member to run in the local election, pledging to restore political balance starting in Daegu. In a statement, Choo, a three-term lawmaker from Dalseong County in Daegu, said, “Korea needs a counterweight to protect the country. I will try to reestablish that balance starting from Daegu.” He called the local election “an important turning point for Korea’s democracy,” adding that “with power tilted to one side,” the country needs a counterweight. “I will try to reestablish that balance starting from Daegu,” he said, adding that he wants to prove “the conservative camp’s economic competence” through results and to “be the start of rebuilding conservatism.” Choo also reflected on his decade in parliament, citing “fierce committee meetings” and late nights in the lawmakers’ office building. He said his party and Dalseong County were always “side by side” before his name and that it was a source of pride. He said that while the lawmaker’s badge weighed “only 6 grams,” the responsibility was hard to measure, and that “even today, 10 years later, that weight has not become any lighter.” He thanked fellow lawmakers for sharing the burden. Choo said he felt heavy and apologetic about stepping away, recalling efforts to protect livelihoods and plan for the future under what he described as a difficult National Assembly in which the Democratic Party holds a majority. “Even if I’m physically farther away, I believe the path we walk is ultimately one,” he said, adding he would keep working to improve people’s lives “in the National Assembly and in the field.” The deadline for lawmakers running in the local election to resign is May 4. If an incumbent resigns by April 30, a by-election in the district will be held alongside the June 3 local elections. If the resignation comes May 1 or later, the by-election will be held in April next year.* This article has been translated by AI. 2026-04-29 10:00:38

Hyundai Rotem Shares Jump 8% on Poland K2 Tank Local Production Deal Hyundai Rotem shares surged more than 8% for a second straight session after the company said it signed a cooperation agreement tied to local production of K2 tanks in Poland. As of 9:43 a.m., Hyundai Rotem was trading at 265,500 won, up 21,000 won (8.59%) from the previous session, according to the Korea Exchange. The stock rose 5.84% a day earlier. Hyundai Rotem said Tuesday it signed a local production and maintenance cooperation agreement with Bumar-Labedy, a defense company under Poland’s state-run defense group PGZ, covering the Polish-version K2 tank (K2PL) and an armored recovery vehicle. The company said the agreement sets out specific execution measures for a core project under the second implementation contract for Poland’s K2 tanks signed in August last year, and is expected to support efforts to expand defense orders in Europe by building a local production base. With major European countries increasingly seeking local production in defense procurement, Hyundai Rotem plans to use Poland as a production hub for K2 tanks to pursue additional orders. The company said local production of related equipment, including a combat engineering vehicle and an armored bridge-layer, will be discussed in stages. Lee Jaekwang, an analyst at LS Securities, said he expects the stock to rise on increased new defense-export orders rather than further gains in profitability. He said the company appears to be aiming to boost K2 exports by using production hubs in Europe-Poland, Latin America-Peru and the Middle East-Iraq. * This article has been translated by AI. 2026-04-29 09:57:07

South Korea to Revamp Fintech Support, Add Incentives and One-Stop Help Desk The Financial Services Commission said it will overhaul its fintech support programs, naming the sector a key growth priority as the financial industry undergoes major change. The FSC said it held an event titled “Fintech, a Place for Connection” on Tuesday, chaired by FSC Chairman Lee Eok-won. The gathering brought together fintech firms and aspiring founders, financial companies, investors and policy finance institutions to share examples of successful cooperation. “Over the past decade, fintech companies have brought innovation to our financial industry,” Lee said. He added that advances in artificial intelligence are not only accelerating change but also “fundamentally reshaping how finance works,” putting the industry at another turning point. To spur growth, the FSC said it will revamp its support projects and designate regional and youth entrepreneurship, along with AI transformation (AX), as priority areas. It plans to offer incentives such as extra points in selecting recipients, dedicated budget allocations and additional support for companies with strong results. The FSC also said it will form public-private consultative groups by region, centered on existing local financial infrastructure such as financial firms, local governments and startup support organizations. The goal is to develop fintech models linked to key local industries and to back the launch and growth of differentiated fintech startups. In addition, the FSC said it will set up a fintech support help desk. It is expected to connect FSC programs, partner searches through financial firms’ fintech labs, funding support from policy finance institutions and startup assistance offered by local governments. “Innovation often begins by connecting different ideas and people,” Lee said, pledging continued support so financial companies and investors can help sustain fintech firms’ ongoing challenges. * This article has been translated by AI. 2026-04-29 09:56:19

South Korean Won Rises Early as UAE OPEC Exit Stirs Oil Volatility The won weakened early against the U.S. dollar but soon turned lower, as traders weighed easing Middle East-related concerns and shifting oil-price expectations. In Seoul’s foreign exchange market, the won was trading at 1,473.5 per dollar as of 9:30 a.m. on the 29th. The exchange rate opened at 1,474.0, up 0.4 won from the previous session, then reversed direction shortly after trading began. Markets are watching the United Arab Emirates’ decision to withdraw from the Organization of the Petroleum Exporting Countries, which has fueled expectations of increased crude supply in the near term. Traders said the prospect of independent production increases after the exit could curb the recent run-up in oil prices. International crude prices remain elevated, but volatility has increased. On the New York Mercantile Exchange, June West Texas Intermediate briefly rose above $100 a barrel before paring gains to settle up 3.7% at $99.93. The dollar was slightly weaker. The dollar index, which measures the greenback against six major currencies, fell 0.02% to 98.593. Min Kyeong-won, an economist at Woori Bank, said position adjustments ahead of the U.S. Federal Open Market Committee meeting were likely to drive a pullback. He added that importers’ demand for dollars to settle payments has remained “consistently active,” contributing to an intraday backdrop in which upward pressure can dominate. * This article has been translated by AI. 2026-04-29 09:55:35

King Charles III Highlights U.S.-U.K. Alliance in Address to Congress Britain’s King Charles III, on a state visit to the United States, used a joint meeting of Congress on April 28 (local time) to underscore the alliance and friendship between the two countries, citing shared history and democratic values. According to The New York Times and other foreign media, Charles described the relationship as a “partnership born in conflict.” He noted that Britain and the United States once had a fundamental disagreement over the principle of “no taxation without representation,” but said the idea reflects democratic values the United States inherited from Britain. Foreign outlets said the remarks amounted to a reminder that, despite recent friction over issues including the Iran war, the relationship remains rooted in a close alliance. Charles did not directly mention tensions between British Prime Minister Keir Starmer and President Donald Trump. Instead, he pointed to Britain’s support after the Sept. 11 attacks and its participation in the Afghanistan war. He said that when NATO invoked Article 5 for the first time after 9/11 — treating an attack on one member as an attack on all and obligating support — “we answered (America’s) call,” as Britain has done for more than a century. Politico interpreted the passage as a carefully aimed rebuff to Trump and pro-Trump forces in Congress. Trump has criticized European allies, including Britain, for not joining the Iran war, saying the United States spent trillions of dollars and did not receive adequate help. Charles also appealed for support for Ukraine in its fight against Russia. On trade, Charles struck a reciprocal tone. He said annual bilateral trade worth $430 billion continues to grow, and he praised $1.7 trillion in mutual investment that he said drives innovation and has created millions of jobs on both sides of the Atlantic. He called it a strong foundation that can be expanded. Charles also quoted a line Trump used during a state visit to Britain last year: “The bonds of kinship and identity between America and the United Kingdom are priceless and everlasting. They are irreplaceable and unbreakable.” Charles noted that the trip was his 20th visit to the United States and his first as king, and he expressed affection for Americans. The speech drew praise from some observers. James Lyons, a former communications chief at Starmer’s office, told Politico that the royal family is like “the Heineken of British diplomacy,” saying it can reach places diplomats cannot. Sen. Lindsey Graham, R-S.C., wrote on social media platform X that it was a “perfect speech” blending wit, humor and history, adding that it felt unusual but welcome to sense a divided Congress coming together. Charles has been viewed as a monarch who reigns but does not rule, while playing a behind-the-scenes role in advancing the national interests of Britain and Commonwealth countries. The NYT reported that in January, after Trump said NATO personnel including Britons stayed only in the rear during the Afghanistan war, Britain reacted with unease, noting it lost 457 service members. The report said the palace conveyed Charles’ concerns to the White House, which later issued a clarifying statement. The NYT also said that after Trump remarked in March last year that the United States should absorb Canada, Charles visited Canada in May that year and signaled support.* This article has been translated by AI. 2026-04-29 09:49:32

Kakao Pay Says 10-Year Transfers Totaled 447 Trillion Won, Saving 1.5 Trillion Won in Fees Kakao Pay said Tuesday that since it launched its money transfer service in April 2016, users have sent a cumulative total of about 447 trillion won over the past 10 years. The company said that is equivalent to people nationwide exchanging 120 billion won a day, or 5 billion won an hour, through Kakao Pay. Over the same period, cumulative transfer transactions topped 4.8 billion, it said. Annual transfers rose from about 2.65 million in 2016 to about 843.1 million last year, a 320-fold jump over a decade. This year, as of last month, average daily transfers exceeded 2.3 million, with about 240 billion won moving each day. That works out to roughly 1,600 transfers per minute, the company said. Kakao Pay said the service has expanded beyond a simple way to send money. In 2016, users sent money to an average of five acquaintances each; by 2025, that figure had grown to an average of nine. The company also said the service helped lower barriers to financial services, estimating users saved about 1.5 trillion won in fees over the past decade. A Kakao Pay official said the past 10 years have focused on reducing the hassle of transfers and improving users’ daily lives, adding the company will continue upgrading the service so users can feel that finance is “closer” and keep sharing “feelings and value.” * This article has been translated by AI. 2026-04-29 09:45:17