OPINION: Paradox of the second shock - Why protectionism cannot solve productivity problem KARACHI, April 23 (AJP) - The global economic order is currently grappling with a phenomenon that many have termed China Shock 2.0. Unlike the first iteration at the turn of the millennium, which saw a surge of low c April 23, 2026

Harim to rescue Homeplus Express, completing farm-to-fork empire SEOUL, April 23 (AJP) - South Korea's poultry giant Harim Group has been named preferred bidder for Homeplus Express, the supermarket arm of the country's No. 2 retailer Homeplus, in a deal that could throw a lifeline to the creditor-protected hypermarket chain and complete Harim's long-pursued vertical integration from chicken farm to checkout counter. Homeplus said on Tuesday that Harim Group affiliate NS Shopping was selected as the preferred bidder for its smaller-fo April 23, 2026

After rare catch, Han River survey sets sights on new discovery SEOUL, April 23 (AJP) - Expectations are rising for new discoveries in this year’s regular catch season along the Han River, following last year’s rare find of a protected species that underscored improving ecological conditions in the capital’s main waterway. The Seoul Metropolitan Government on Thursday conducted a fish species survey near Bamseom Island beneath Seogang Bridge in Yeongdeungpo-gu, western Seoul, as part of its semiannual monitoring progr April 23, 2026

Matchmaking firm Duo slapped with fines for massive data breach SEOUL, April 23 (AJP) - Matchmaking firm Duo was slapped with heavy fines over a massive data leak affecting nearly 430,000 users, a state-run privacy watchdog said on Thursday. The Personal Information Protection Commission imposed about 1.2 billion won (US$810,000) in penalties and fines on the company after a Duo employee's computer was hacked in January last year, exposing sensitive personal information of some 427,464 paid members. The leaked information included names April 23, 2026

Hyundai Motor profit falls sharply on cost surge, misses expectation SEOUL, April 23 (AJP) - Hyundai Motor, South Korea's largest automaker, posted a sharp drop in first-quarter earnings amid rising cost pressures from U.S. tariff barriers and Gulf-related shocks. Operating profit for the first quarter of 2026 came in at 2.51 trillion won, down 30.8 percent on year and in line with the market consensus of 2.4 trillion to 2.6 trillion won compiled by FnGuide. The underperformance reflects multiple headwinds for carmakers – sharp rise in o April 23, 2026

President Lee pitches S. Korean growth model as Viet Nam pursues infrastructure surge SEOUL, April 23 (AJP) - South Korean President Lee Jae Myung committed to deepening strategic cooperation in nuclear energy, transportation, and finance during a meeting with Vietnamese Prime Minister Le Minh Hung in Hanoi on Thursday. Lee framed the partnership as a catalyst for a new "Red River Miracle," drawing direct parallels between South Korea's rapid post-war industrialization and the current development trajectory of Viet Nam. The diplomatic push comes as Se April 23, 2026

More tax incentives for butane to support small businesses amid surging global prices SEOUL, April 23 (AJP) - Tax cuts on liquefied petroleum gas (LPG) butane products will be raised to 25 percent from around 10 percent to ease fuel costs for small trucks and other commercial vehicles, the Ministry of Finance and Economy said on Thursday. According to the ministry, the cut will take effect on May 1 and run through the end of June, lowering butane prices by about 51 won per liter from previous levels. Butane is widely used by freight and commercial vehicles, meanin April 23, 2026

SK hynix redefines chip profit with 72% margin on HBM supremacy SEOUL, April 23 (AJP) -Regardless of the headline figures, SK hynix reigns as the most profitable chipmaker in the world and will likely stay so through the year as it consolidates leadership in high-bandwidth memory (HBM) critical to the AI transition through aggressive spending from its enhanced firepower. The Korean pure-play memory maker will test upgraded HBM4E prototypes in the second half for potential rollout next year depending on client demand, according to executives du April 23, 2026

KOSPI extends record rally past 6,500, driven by semiconductor momentum SEOUL, April 23 (AJP) - Seoul benchmark KOSPI set new milestone Thursday, decoupled from the broad sidelined sentiment across Asia amid Gulf uncertainties, as stronger-than-expected first-quarter GDP and SK hynix earnings underscored the depth of South Korea's chip power. The main index rose 2.1 percent to a new intraday high of 6,551.3 in morning trade after opening at 6,488.83, with advances led by large-cap chipmakers following robust earnings from SK hynix. The undeter April 23, 2026

Pyongyang labels Japanese drone units a threat as military tensions rise SEOUL, April 23 (AJP) - Pyongyang slammed on Thursday Japan’s move to establish dedicated drone units within its Ground Self-Defense Force, calling the restructuring a "reckless" step toward reviving the country’s past imperial ambitions. State media reported that the modernization of Tokyo’s unmanned capabilities, paired with its recent acquisition of long-range strike weapons, has pushed the region into a dangerous new phase of military escalation. Th April 23, 2026