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Lee Kyung-min

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Companies

Huons Global moves to calm investors over controversial merger

Huons Global moved Friday to contain growing shareholder concerns over a planned merger between two of its affiliates, saying the deal is critical to securing the prescription drug and health supplement conglomerate’s long-term growth engine and stabilizing funding for its unprofitable biotech unit. The holding company said it will hold a shareholder meeting to explain the rationale behind the merger of Huons and Huonslab, while also gathering investor feedback on the transaction and its potential impact on minority shareholders. The announcement comes days after Huons, a subsidiary of Huons Global, approved a merger agreement to absorb Huonslab during a board meeting held Sunday. Huonslab, a biotechnology affiliate focused on innovative biopharmaceutical development, currently operates without a revenue base and has been posting widening losses as it accelerates research and development efforts. The company recorded an operating loss of 10.2 billion won ($6.7 million) last year, with the deficit widening 20.8 percent from a year earlier, according to Huons Global. Huons Global said the

May 22, 2026By Lee Kyung-min
Huons Global moves to calm investors over controversial merger
K-pop

ATEEZ signals moodier, introspective turn for its next album

For a K-pop group that has built its reputation on cinematic scale and relentless touring, the next step isn't just about maintaining momentum — it is about challenging the audience. ATEEZ, the eight-member powerhouse known for explosive choreography, will release its 14th mini-album, "GOLDEN HOUR : Part.5," on June 26, its agency, KQ Entertainment, said Friday. The release comes a mere four months after its previous record, signaling an aggressive release strategy designed to capitalize on a rapidly expanding Western footprint. The announcement arrived via a cryptic midnight video on the group’s official YouTube channel. Featuring fragmented, rapid-fire imagery and an ominous voiceover repeating the phrase “Question yourself,” the teaser culminates with the word “BAD” flashing across the screen. The gothic tone hints at a stark thematic pivot for a group whose narrative universe has long blended pirate mythology with dystopian sci-fi. The stakes for the new release are notably high. In February, ATEEZ’s 13th mini-album, "GOLDEN HOUR : Part.4," debuted at No. 3 on the Billbo

May 22, 2026By Lee Kyung-min
ATEEZ signals moodier, introspective turn for its next album
South Korea

Joseon-era envoy ship returns to sea as Korea turns heritage into living history

A 34.5-meter wooden vessel once used to carry Korean envoys to Japan has returned to Korea’s waters as a floating museum, offering the public a rare chance to step inside a reconstructed piece of 18th-century diplomacy. The National Research Institute of Maritime Heritage said Thursday that the Joseon Tongsinsa ship is taking part in the 16th Hwaseong Sea Leisure Festival in Hwaseong, Gyeonggi Province, running through May 29. The ship is a full-scale reconstruction of a Joseon Dynasty diplomatic vessel built in 2018 and used in modern reenactment voyages along historic Korea-Japan maritime routes since 2023. In 2025, the vessel entered Osaka Port for the first time in 261 years since the last official Joseon envoy mission, according to the institute, highlighting what officials describe as Korea’s traditional shipbuilding and navigation expertise. The institute said a safety blessing ceremony for the voyage was held last Friday at its dock in Mokpo, attended by about 50 officials, including local government representatives and cultural tourism interpreters. The ship departed Mokpo on

May 21, 2026By Lee Kyung-min
Joseon-era envoy ship returns to sea as Korea turns heritage into living history
Economy

Korea’s K-food exports keep rising, defying global shipping strains

Korea’s food exports are climbing steadily even as war-driven disruptions in the Middle East force exporters to reroute shipments, absorb higher logistics costs and rebuild supply chains in real time. The Ministry of Agriculture, Food and Rural Affairs said Thursday that cumulative K-food exports reached 5.38 trillion won ($3.58 billion) through April, up 4.7 percent from $3.42 billion a year earlier. Instant noodles remained the dominant export category at $616.6 million, followed by confectionery at $265 million, beverages at $236.7 million and processed rice products at $101.2 million. Fresh fruit exports also rose, led by strawberries at $57.4 million, grapes at $17.5 million and pears at $7.7 million. Officials said exports to the Gulf region surged 37.6 percent to $159.7 million despite the ongoing regional conflict and higher shipping and insurance costs tied to instability in Middle Eastern waters. Exports to the United States rose 8.9 percent, while shipments to China increased 15.5 percent. The European Union posted an 8.7 percent gain and Latin America rose 13.6 percent. The m

May 21, 2026By Lee Kyung-min
Korea’s K-food exports keep rising, defying global shipping strains
South Korea

Seoul tightens fire rules for small lodging facilities

Seoul is moving to tighten oversight of capsule hotels and other small lodging facilities, unveiling a sweeping fire safety plan Thursday aimed at closing regulatory gaps that officials say could cost lives in a fast-moving blaze. The city government said it will conduct a full inspection of 7,958 lodging facilities across Seoul, while expanding sprinkler coverage, strengthening emergency equipment requirements and building an integrated safety management system that links construction, tourism and firefighting authorities. City officials said more than 90 percent of lodging facilities in Korea’s capital currently lack sprinklers, including many properties under 300 square meters that are not legally required to install them. Capsule hotels and dormitory-style accommodations, which often feature tightly packed sleeping units and narrow corridors, will be designated as “priority management targets” under the new plan. The city said it is also pushing for national legal changes that would classify such facilities as multi-use establishments, which would trigger mandatory sprinkler in

May 21, 2026By Lee Kyung-min
Seoul tightens fire rules for small lodging facilities
Economy

Harvesting diplomacy: Korea’s Africa rice initiative hits 10,000-ton milestone

A Korean-backed rice initiative in Africa has crossed a symbolic milestone, producing more than 10,000 tons of rice seed in just three years as Seoul deepens its push to position agricultural aid as a pillar of global food security. The Ministry of Agriculture, Food and Rural Affairs and the Rural Development Administration said Thursday that the K-Rice Belt project produced 6,365 tons of high-yield rice seed across seven African countries in 2025. The total exceeded this year’s target of 4,752 tons by 34 percent and marked a 79 percent increase from last year’s output of 3,562 tons. With this year’s harvest included, cumulative production under the program reached 12,248 tons since its launch in 2023, surpassing the 10,000-ton mark for the first time. The K-Rice Belt project is Korea’s flagship agricultural development assistance program aimed at strengthening food security in African countries with weak rice production infrastructure. Participating countries currently include Senegal, Gambia, Guinea, Ghana, Cameroon, Uganda and Kenya, with Sierra Leone newly added this year. Ugan

May 21, 2026By Lee Kyung-min
Harvesting diplomacy: Korea’s Africa rice initiative hits 10,000-ton milestone
Travel & Food

Korea’s tourism boom shatters records as foreign arrivals top 2 mil. again

Korea’s tourism rebound is turning into something bigger. Fueled by the global spread of K-culture and surging demand from across Asia and beyond, the country drew more than 2 million foreign visitors in April, crossing that milestone for the second month in a row and setting a new record pace for inbound tourism. The Ministry of Culture, Sports and Tourism said Thursday that 2.03 million foreign travelers visited Korea in April, up 19 percent from 1.71 million a year earlier. The figure follows March, when monthly inbound tourism surpassed 2 million for the first time. From January through April, Korea welcomed 6.77 million foreign visitors, a 21 percent increase from 5.58 million during the same period last year and the highest four-month total on record. Chinese travelers accounted for the largest share in April, with 574,283 arrivals, followed by Japanese visitors at 304,053. Tourist arrivals from Taiwan reached 192,854, while visitors from Hong Kong totaled 70,802. The ministry also reported continued growth from long-haul markets, including the Americas and Europe, which together ac

May 21, 2026By Lee Kyung-min
Korea’s tourism boom shatters records as foreign arrivals top 2 mil. again
South Korea

Korea turns to Global South for answers on saving regional tourism

As foreign tourists crowd major cities and rural regions struggle to attract visitors, tourism officials from across the developing world gathered in Korea Thursday to search for a solution that has eluded governments worldwide: how to spread tourism wealth beyond capital cities. The Ministry of Culture, Sports and Tourism said it hosted the 2026 KOPIST High-Level Tourism Policy Forum in Sejong under the theme of “strategic approaches to revitalizing regional tourism.” The event brought together senior tourism officials from 10 countries, including Indonesia, Ghana, Mongolia, Peru and Egypt, to discuss policies aimed at expanding tourism benefits across entire countries rather than concentrating them in major urban centers. KOPIST, short for the Korea Partnership Initiative on Sustainable Tourism, is the ministry’s flagship official development assistance program focused on tourism cooperation with developing countries. Launched in 2014, the initiative has served as a platform for sharing Korea’s tourism development policies with partner nations. Among the keynote speakers was Jul

May 21, 2026By Lee Kyung-min
Korea turns to Global South for answers on saving regional tourism
Companies

Hyundai bets on hydrogen as energy security fears reshape global market

Hydrogen is no longer being pitched merely as a clean-energy alternative. At one of the world’s largest hydrogen industry gatherings this week in the Netherlands, Hyundai Motor Group argued that the fuel is emerging as a strategic answer to growing instability in global energy supply chains. The Korean automaker said Thursday it participated in the World Hydrogen Summit 2026, held from Monday to Thursday at the Rotterdam Ahoy Convention Centre in Rotterdam, where government officials and business leaders gathered to discuss the future of the hydrogen economy. Hyundai Motor Group hosted an exhibition booth centered on HTWO, the company’s hydrogen brand and business platform, displaying a mockup hydrogen fuel cell system and the all-new NEXO hydrogen-powered sport utility vehicle. The company said the next-generation NEXO is equipped with a 150-kilowatt motor capable of accelerating from zero to 100 kilometers per hour in 7.8 seconds. The vehicle can travel up to 720 kilometers on a single charge under Korea’s certification standards and began sales in Europe this year, Hyundai said. T

May 21, 2026By Lee Kyung-min
Hyundai bets on hydrogen as energy security fears reshape global market
Companies

Lotteria raises burger prices as costs squeeze franchise operators

Burgers at Lotteria will soon cost more. The fast-food chain said Thursday it will raise prices on 22 burger menu items and other products beginning May 28, marking the company’s latest effort to cope with mounting pressure from rising costs and currency volatility. Lotteria, operated by Lotte GRS under Chief Executive Lee Won-taek, said the overall increase would average 2.9 percent. Its signature Ria Bulgogi Burger and Ria Shrimp Burger will each increase by 100 won ($0.07), bringing the standalone prices of both menu items to 5,100 won. Lotteria said the move reflected growing financial strain tied to exchange rate fluctuations, prolonged global supply imbalances and rising logistics expenses. The company also pointed to broader cost pressures, including higher labor expenses and delivery platform fees, though it said the latest adjustments were kept below those increases to limit the burden on customers. Food and restaurant chains across Korea have faced mounting challenges in recent years as inflation, weak consumer spending and volatile import costs weigh on profitability. Lotteria

May 21, 2026By Lee Kyung-min
Lotteria raises burger prices as costs squeeze franchise operators
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