South Korea’s Kospi Closes Above 6,400, Sets Fresh Record a Day After New High South Korea’s Kospi broke above the 6,400 mark on expectations of improving semiconductor conditions and continued foreign inflows, setting a fresh record just one day after reaching an all-time high for the first time in about two months. The benchmark closed April 22 at 6,417.93, up 29.46 points, or 0.46%, from the previous session, according to the Korea Exchange. The index opened lower at 6,387.57, quickly turned higher and rose as far as 6,400.11 before finishing with gains after choppy trading. Retail investors bought a net 1.7821 trillion won, while foreigners and institutions sold a net 750.7 billion won and 923.8 billion won, respectively, as they took profits. Large-cap shares were mixed. SK hynix rose 0.25%, LG Energy Solution gained 1.26%, Doosan Enerbility added 0.09% and Hanwha Aerospace climbed 1.80%. Samsung Electronics fell 0.46%, Hyundai Motor slipped 0.92% and Samsung Biologics dropped 1.39%. By sector, moves were also mixed. Electronics rose 0.27%, transportation equipment and parts jumped 2.71%, chemicals gained 1.56%, machinery and equipment added 0.56%, IT services rose 0.66%, metals climbed 3.00% and distribution gained 0.27%. Financials fell 0.32%, pharmaceuticals dropped 0.95%, insurance slid 1.76% and brokerages fell 0.21%. The Kosdaq also ended higher. It opened down 2.20 points, or 0.19%, at 1,176.83, then rebounded to close up 2.09 points, or 0.18%, at 1,181.12. On the Kosdaq, individuals and foreigners were net buyers of 405.4 billion won and 97.6 billion won, while institutions sold a net 374.3 billion won. Most Kosdaq heavyweights fell, with the exceptions of EcoPro, up 0.06%, and Lino Industrial, up 1.43%. EcoPro BM fell 1.13%, Alteogen dropped 2.44%, Rainbow Robotics slipped 0.67%, Samchundang Pharm plunged 15.88%, Kolon TissueGene fell 2.16%, ABL Bio dropped 3.66%, HLB fell 2.72% and LigaChem Bio slid 2.89%. Analysts said the market’s downside has held up despite external uncertainties. Lee Kyung-min, a researcher at Daishin Securities, said the Kospi stayed in a narrow range despite uncertainty over Iran talks and fading expectations for rate cuts. “External factors are stirring risk-off sentiment, but earnings and order momentum are supporting the market’s lower bound,” Lee said, adding that early losses widened before the index rebounded and moved sideways near flat levels. Overnight, U.S. stocks fell as uncertainty grew over a second round of talks between the United States and Iran. The Dow Jones Industrial Average closed down 0.59%, while the S&P 500 and Nasdaq fell 0.63% and 0.59%, respectively. Microsoft rose 1.46% and Amazon gained 0.66%, while Nvidia fell 1.08% and Tesla dropped 1.55%, leaving major tech shares mixed. The Philadelphia Semiconductor Index rose 0.50%, as skepticism spread over the resumption of U.S.-Iran negotiations, weakening expectations for an end to the conflict.* This article has been translated by AI. 2026-04-22 16:14:03

OCI posts 28.9 billion won Q1 operating profit, up 171.4% on year OCI said in a regulatory filing on Tuesday that it posted first-quarter consolidated revenue of 506.6 billion won ($?) and operating profit of 28.9 billion won. Revenue fell 6% from a year earlier, while operating profit jumped 171.4%. OCI attributed the profit gain to higher selling prices for key carbon chemicals products and restructuring effects, including the merger with P&O Chemical and the liquidation of OJCB, its carbon black production unit in China. By segment, the basic chemicals division, which includes semiconductor materials, reported revenue of 184.7 billion won and operating profit of 1.4 billion won. Results fell from the previous quarter due to lower sales volume of polysilicon for semiconductors tied to customer delivery schedules, as well as scheduled maintenance for products including caustic soda (CA) and TDI. The carbon chemicals division posted revenue of 336.1 billion won and operating profit of 31.7 billion won. OCI said higher product prices amid stronger oil prices, along with increased pitch sales volume, drove sharp gains in both revenue and profit. It said it expects solid profitability to continue in the second quarter, supported by firm oil prices and stable supply and demand based on the use of steelmaking raw materials. OCI said it aims to make this year a turning point for improving profitability and strengthening its mid- to long-term growth base. In semiconductor materials, it plans to pursue earnings growth by expanding sales of key products including polysilicon, hydrogen peroxide and phosphoric acid, supported by capacity expansion. The company said a 5,000-ton expansion of phosphoric acid capacity is scheduled to be completed in the third quarter of 2026, and it is also reviewing additional expansion to prepare for longer-term demand growth. OCI also plans to ramp up mass production in the second half for specialty materials used in silicon anode materials for secondary batteries, based on a long-term supply contract with Nexeon. Vice Chairman Kim Yushin said external uncertainty remains high due to geopolitical risks such as the recent war in the Middle East, but the company will sustain its recovery by responding flexibly to markets and diversifying raw material sourcing. “Based on stable profits from basic materials and carbon chemicals, we will generate results in new businesses such as semiconductor materials,” Kim said.* This article has been translated by AI. 2026-04-22 16:13:11

Prosecutors Indict Park Wang-yeol, Alleged Philippines-Based Drug Kingpin, on Meth Smuggling Charges Prosecutors have indicted Park Wang-yeol, who is accused of smuggling and distributing drugs worth about 13 billion won ($13 billion won) into South Korea from a Philippine prison. The Suwon District Prosecutors Office’s government joint investigation unit on drug crimes said Tuesday it indicted Park in custody on charges including violating the Act on the Aggravated Punishment of Specific Crimes (psychotropic drugs). Investigators said Park imported 317 grams of methamphetamine in four shipments from the Philippines and Mexico in 2020. They said that in June 2024 he conspired with his nephew, identified only as A and nicknamed “white-bearded whale,” to smuggle about 1,482.7 grams of methamphetamine from the Philippines into South Korea. The unit also said it found evidence Park smuggled 3,079 grams of methamphetamine from South Africa. Prosecutors said Park used so-called “drop” deliveries in South Korea, hiding drugs at set locations and sending buyers coordinates to avoid detection. They said he maintained bases in major cities including Seoul, Busan and Daegu to manage the drugs. They also said they identified allegations that he received, through intermediaries, 1,575 ecstasy pills and quantities of cocaine and synthetic cannabis that had been hidden in areas including Incheon. The joint unit said an on-site investigation in the Philippines found indications Park’s group used mobile phones freely inside a detention facility and directed associates in South Korea. It said it secured five mobile phones used by the group and confirmed indications they generated tens of billions of won in criminal proceeds while operating from the facility. Prosecutors said they plan additional indictments, in consultation with the Philippine government, over remaining allegations including suspected stockpiles prepared for smuggling. They also said they will work with a special task force on transnational crime to bring A and three alleged distribution ringleaders back to South Korea, and will launch an asset recovery team led by a senior police officer to track down and seize hidden proceeds.* This article has been translated by AI. 2026-04-22 16:12:18

Battery maker CEO gets far reduced sentence in appeals court over deadly factory fire SEOUL, April 22 (AJP) - Lithium battery maker Aricell's CEO was sentenced to four years in prison over a deadly fire in an appeals court in Suwon, Gyeonggi Province on Wednesday. It was a far lower sentence than the 15 years handed down in the first trial over the fire at the company's plant last year, which claimed about two dozen lives. The Suwon High Court delivered the far more lenient sentence to Aricell CEO Park Soon-kwan, who was indicted on several charges including violations of occupational safety and health-related laws and work-related negligence resulting in death or injury among others. His initial 15-year sentence was the heaviest since the enactment of relevant laws in 2022, which allow for the punishment of company owners or CEOs with at least one year in prison or fines of up to 1 billion won (about US$7000,000) for fatal industrial accidents. The reduced ruling at the appellate court comes about two years after the fire at the plant killed 23 workers, including 18 foreigners and injured eight others in June 2024. Separately, the court sentenced Park's son, who served as the de facto head of the company, to seven years in prison and a 1 million won fine, which was also lower than the 15-year prison sentence handed down in the first trial. Prosecutors had earlier sought 20 years and 15 years in prison against Park and his son, arguing that the accident was a disaster waiting to happen as the company failed to provide proper evacuation routes, making it difficult for its workers to escape the blaze. 2026-04-22 16:11:01

43rd Weifang International Kite Festival Opens in Shandong, Expands as Culture-Tourism Event The 43rd Weifang International Kite Flying Competition and the 2026 Weifang Kite Festival opened April 18 in Weifang, a city in China’s Shandong Province. Organizers described the event as a key program in the city’s tourism-themed year. Tourists and other participants from around the world attended the spring festival. First held in 1984, the Weifang competition has expanded beyond a traditional event into a global platform that includes cultural exchange and friendship cooperation, as well as economic exchange. This year’s festival is themed, “Leaping beyond mountains and seas, moving toward a trillion-yuan city.” It features 56 programs that combine kite culture with tourism, sports, the economy and consumer activity, aiming to promote a new consumption model that integrates culture, tourism, sports and commerce. Weifang officials said the event is intended to boost the local economy and advance the city’s goal of becoming a “trillion-yuan city,” while strengthening its standing as a regional hub.* This article has been translated by AI. 2026-04-22 16:08:52

Taiwan’s Delta Briefly Tops NT$5 Trillion Market Cap as Shares Hit Record Taiwan power supply unit maker Delta (Taidah Electronics Inc.) saw its shares rise to NT$1,980 on the Taiwan stock market on April 20, briefly pushing its market capitalization above NT$5 trillion, the Economic Daily reported April 21. The report said buying spread after moves by institutional investors. Delta is the second company in Taiwan to exceed a NT$5 trillion market cap, after Taiwan Semiconductor Manufacturing Co., the world’s largest foundry chipmaker. Delta reported consolidated March revenue of NT$59.77999 billion, up 37.6% from a year earlier. A securities industry official said Delta’s results are benefiting from surging demand for high-voltage direct current power equipment for cloud solution providers, lifting both average selling prices and gross margin.* This article has been translated by AI. 2026-04-22 16:08:22

Why South Korea Sees the Global South as a Supply-Chain Lifeline, Not an ‘Alternative Market’ “Alternative market” is the label often attached to the Global South. But it no longer fits. India and Vietnam are no longer just low-cost production bases meant to replace China. With U.S.-China tensions, war in the Middle East and U.S. tariff pressure colliding, the Global South is increasingly where South Korea must operate to keep its economy resilient. In India, the shift is already visible in the numbers. POSCO’s planned 10 trillion won steel mill with JSW is hard to view as a routine investment. With China shaking markets through pricing, the move reflects a choice to absorb demand through local production and change the structure of competition. HD Hyundai’s push for shipyard cooperation, and Samsung and Hyundai Motor’s expansion in manufacturing and mobility, point in the same direction. With AI and digital technology added to the mix, India is becoming less a destination for entry and more a place to co-design industry — where India’s scale meets South Korea’s speed. Vietnam matters in a different way. President Lee Jae-myung, in Hanoi, stressed that “the relationship between the two countries is truly special,” a message rooted in years of accumulated ties beyond headline figures. South Korea is Vietnam’s largest investor and is already deeply embedded as a production base. The question is what comes next. The message of building supply chains together through nuclear power, infrastructure and science and technology cooperation is directionally sound, but it remains closer to “potential.” For Vietnam to move beyond assembly into a supply-chain pillar combining energy and technology, South Korea will also need to change how it approaches the partnership. That is where the limits of South Korea’s strategy show. The country has not fully moved beyond the model of “make well and export.” But the world no longer works that way. The United States is using tariffs to restrict market access, China is disrupting order through pricing, and the Middle East remains a variable that can halt supplies at any time. In that structure, South Korea cannot endure on its own. The core of a Global South strategy, then, is not market expansion but shared risk management. Cooperation with India on naphtha and LNG, and talks with Vietnam on a nuclear-power supply chain, can be starting points. But if they remain one-off efforts, their value diminishes. What is needed is a framework that links energy, industry and finance. Japan built pathways long ago through official development assistance and policy finance, and China has combined infrastructure and resources to shape the playing field. South Korea is still at a stage of relying on the capabilities of individual companies. The Global South should be treated not as a place to “enter,” but as a partner for joint design. Beyond a simple exchange — South Korea providing technology and speed, and local partners providing markets and resources — the goal should be a structure in which both sides produce together and consume together. That is how they can better withstand U.S. tariff risks and Middle East supply instability. The Global South is no longer an option. From where South Korea stands now, it is already a direction that cannot be reversed. The question is not how fast South Korea gets there, but what kind of relationship it builds once it does. * This article has been translated by AI. 2026-04-22 16:07:29

PPP Floor Leader Song Eon-seok Calls for Major Shift in Housing Policy, Urges Unification Minister’s Dismissal Song Eon-seok, floor leader of the People Power Party, on the 22nd took aim at what he called risks tied to the Lee Jae-myung government’s real estate policy and Unification Minister Jeong Dong-young. He urged a fundamental shift in housing policy and called for Jeong’s immediate dismissal. At a news conference at the National Assembly, Song said the government’s efforts to curb housing demand have reduced listings and transactions and produced “various side effects.” He pointed to the period after the government tightened household lending rules in the so-called June 27 measures last year. Over the following nine months, Seoul’s apartment sales price index rose 11.1%, more than double the 4.9% increase in the nine months before the rules were tightened, he said. Over the same period, Seoul’s jeonse supply-demand index and monthly rent price index rose 18.1% and 5.8%, respectively, which he said signaled a sharp deterioration in rental-market indicators. “In a market structure of demand suppression, delayed supply and weakened transactions, we are only seeing adverse effects: higher prices, fewer jeonse leases and heavier monthly rent burdens,” Song said. He added that “balloon effects” were spreading beyond Gangnam to areas such as Dongjak, Seodaemun and Gangseo, and into nearby cities including Gwangmyeong, Seongnam and Hanam. Song called for a major easing of loan restrictions for would-be homeowners without a house, and for withdrawing what he described as signals that fuel instability, including abolishing long-term holding tax deductions and strengthening property holding taxes. He also urged supply measures such as speeding up redevelopment of multi-family homes in central areas and easing regulations in height-restricted zones. The People Power Party said it plans to pursue an expanded supply policy in Seoul if Oh Se-hoon, its candidate for Seoul mayor in the June 3 local elections, wins, aiming to enable groundbreaking for 310,000 housing units in the city by 2031. Song also demanded personnel action against Jeong over remarks about “North Korea’s constituent nuclear facilities.” “A minister should not make uncertain statements based on claims raised in the private sector,” Song said, adding that only officially recognized information should be cited. He said Jeong had ended up acting “not as the Republic of Korea’s unification minister, but like North Korea’s United Front Department minister.” Song called on the government to disclose in detail whether the commander of U.S. Forces Korea and a U.S. assistant secretary of state visited South Korea’s defense and foreign ministries, respectively, to protest Jeong’s remarks. “This issue will not be resolved by blindly defending Minister Jeong,” Song said. “He should be dismissed immediately.” Lawmakers from the People Power Party on the National Assembly’s Foreign Affairs and Unification Committee also held a separate news conference, calling for an emergency committee inquiry, Jeong’s immediate removal, and efforts to restore the South Korea-U.S. alliance and normalize diplomacy and security policy. Rep. Kim Geon, a former diplomat, told reporters afterward that when citing private-sector claims, a minister must be clear, but Jeong spoke as if it were an objective fact. He said imprecision in discussing intelligence was a serious problem. Separately, asked about calls in some quarters for an early floor leader election, Song said the party should focus its strength on key tasks such as nominating candidates for National Assembly by-elections held alongside the local elections. He said he would serve out his term and devote his remaining time to winning the elections.* This article has been translated by AI. 2026-04-22 16:06:25

South Korean Ruling Party Candidates Sideline Jang Dong-hyeok as Local Election Tensions Grow People Power Party candidates running in the June 3 local elections are increasingly keeping their distance from party leader Jang Dong-hyeok, as internal disputes over nominations continue and his recent U.S. trip draws criticism. In key battlegrounds including Seoul, Gyeonggi Province and the Daegu-North Gyeongsang region, candidates and lawmakers are moving to set up their own campaign committees, effectively sidelining the central leadership. Jang on the 22nd began his first regional outreach since returning from the United States. He traveled to Yangyang in Gangwon Province to support Gov. Kim Jin-tae, who is running for another term, but faced blunt criticism in person. Meeting Jang at a fishing village community center in Yangyang County’s Susan-ri, Kim said he initially believed he could win by working hard on his own, but added that the party needed to provide support. He said that after spending all day on the campaign trail, he often felt alarmed whenever news from the central party surfaced. Kim said about 300 party candidates are running in Gangwon Province and likely feel the same way. He added that some candidates urged him to speak even more forcefully when meeting Jang. Kim said he hoped Jang would “return to the great Jang Dong-hyeok of the past” and called on him to “take responsibility and resolve” the situation. As Kim’s remarks were interpreted by some as a call for Jang to step back or resign, Jang dismissed that reading, saying he did not know what Kim meant by “take responsibility and resolve it.” Jang said he was working to achieve the best possible result in the local elections and that this was his responsibility. He said he took Kim’s comments as words of concern for the party and would consider what the central party should do to win. It was Jang’s second local-election visit after Incheon. On April 6, he held an on-site meeting of the party’s top leadership in Incheon but was rebuked by Rep. Yoon Sang-hyun, who said Jang was becoming “a burden to the public.” Jang had planned to hold another on-site leadership meeting in Gangwon on the 22nd, but it was replaced with a campaign pledge event. The party leadership plans to launch a central election committee once nominations are finalized. But with regional groups pressing ahead with separate campaign organizations, Jang’s standing is narrowing. Lawmakers in Gyeonggi Province have said they will launch a province-level campaign committee. At a news conference at the National Assembly the previous day, they said the Democratic Party had already finalized its candidates and was campaigning across Gyeonggi, while the People Power Party had not even decided on its candidates. They said they would immediately form a Gyeonggi campaign committee and that the province would move first in a crisis to serve as a forward base for winning the greater Seoul area. Seoul mayoral candidate Oh Se-hoon, Busan mayoral candidate Park Hyung-joon and North Gyeongsang Gov. Lee Cheol-woo also signaled plans to form separate campaign committees.* This article has been translated by AI. 2026-04-22 16:05:27

Seoul mayoral candidate Jung Won-oh proposes 700,000 won 'first independence' grant for young adults Jung Won-oh, the Democratic Party’s candidate for Seoul mayor, met with young office workers on April 22 as he stepped up his street-level campaign focused on livelihoods. He said he understood their concerns about living costs, noting that “in reality, real income is declining in some ways.” Jung made the remarks during his third “Seoul In(people)terview” lunchtime session for office workers, held in Jung-gu, central Seoul. A participant identified only by the surname Kim said lunch in busy areas such as Gwanghwamun and Gangnam Station typically costs 12,000 to 15,000 won, calling it a burden. Jung responded that eating two meals at 15,000 won each would total 30,000 won a day, adding up to about 1 million won a month for food. He also cited monthly rent for one-room units near university districts at 600,000 to 700,000 won, and said rent can reach 1 million won, putting combined food and housing costs at about 2 million won. Targeting young adults, Jung pledged a “first independence” grant for those moving out on their own for the first time. The plan would provide 700,000 won in total: 400,000 won for real estate brokerage fees and 300,000 won for living expenses. He also said he would create a mayoral office-level organization and 추진 a “Youth Cheer Start Home” five-part package, including steps to prevent jeonse fraud and strengthen tenant protections. The proposal follows programs Jung promoted in Seongdong-gu, including a “coming-of-age start grant” for 19-year-olds and support for essential purchases for young people who moved into the district and formed one-person households. Jung said that when he was in Seongdong-gu, the district provided a 200,000 won coming-of-age gift at age 20. “It’s small, but it feels good,” he said, adding that it helps young people feel society is paying attention and making an effort for them. Jung has been running the “Seoul In(people)terview” series since April 15. The campaign selects stories from text messages sent to a direct number for the candidate, and Jung visits people in person to hear their concerns and suggest policy responses. He said he plans to develop pledges based on what he hears and present a vision of “Seoul where citizens are the owners.”* This article has been translated by AI. 2026-04-22 15:57:42