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The addition of Miles&Smiles marks an important milestone in ASMALLWORLD’s strategic effort to strengthen its global reach and broaden the geographic diversity of its airline partnerships. With Turkish Airlines’ connectivity across Europe, Asia, the Middle East, and Africa, ASMALLWORLD members can now enjoy even greater access to new destinations and cultural experiences. This collaboration underscores ASMALLWORLD’s commitment to building partnerships that combine meaningful travel rewards with exceptional service and global accessibility.

“As the airline with the most global destinations, Turkish Airlines represents excellence in connectivity and service, making them an ideal partner for our members,” said Zain Richardson, CEO of ASMALLWORLD. “This collaboration with Miles&Smiles expands our airline portfolio with a programme that shares our commitment to quality and to discovery, while also offering our members greater flexibility and access to an extensive international network.”

A Global Partnership with Turkish Airlines

Founded in 1933 and headquartered in Istanbul, Turkish Airlines is renowned for its award-winning service and one of the most extensive route networks in the world, flying to more countries than any other airline. As a member of the Star Alliance, Turkish Airlines provides seamless connections across six continents, covering over 350 destinations.

ASMALLWORLD members who select Turkish Airlines as their preferred airline partner will receive generous Miles&Smiles miles packages as part of their ASMALLWORLD membership:

• Advantage: 35,000 Miles&Smiles miles
• Prestige: 250,000 Miles&Smiles miles
• Signature: 500,000 Miles&Smiles miles

These miles can be redeemed for award flights, upgrades, and other exclusive rewards within the Miles&Smiles programme, offering members a premium travel experience from start to finish.

“We are delighted to collaborate with ASMALLWORLD and extend our Miles&Smiles privileges to its distinguished members,” said Nuran Erdağ Haberdar, Vice President, Loyalty Management at Turkish Airlines. “This partnership reflects our commitment to excellence, and we look forward to welcoming ASMALLWORLD guests on board to experience the renowned hospitality of our flag carrier and our extensive global flight network.”

Expanding Premium Travel Benefits

This new partnership reinforces ASMALLWORLD’s commitment to offering its members a choice of leading global airlines and travel partners across multiple regions. By integrating Turkish Airlines into its membership portfolio, ASMALLWORLD continues to strengthen its position as an unparalleled luxury travel ecosystem, combining community, benefits, and exclusive experiences under one brand.

In addition to air miles, ASMALLWORLD members enjoy a curated suite of privileges that include VIP hotel benefits such as room upgrades and hotel credit for spa and food and beverage, elite hotel status, airport lounge access via Priority Pass, elite rental car status with SIXT, and invitations to exclusive global events.

Hashtag: #ASMALLWORLD

The issuer is solely responsible for the content of this announcement.

About Turkish Airlines

Established in 1933 with a fleet of just five aircraft, Star Alliance member Turkish Airlines has grown into a global carrier operating 523 passenger and cargo aircraft. The airline serves 356 destinations worldwide, including 303 international and 53 domestic routes, across 132 countries. More information about Turkish Airlines can be found on its official website www.turkishairlines.com or its social media accounts on Facebook, X, YouTube, LinkedIn and Instagram.

The ASMALLWORLD Group

Centred around the ASMALLWORLD social network, the company operates a luxury travel ecosystem that serves discerning travellers and industry partners.

At its core, the ASMALLWORLD social network is the trusted community for modern luxury travellers, offering a platform to connect, share experiences and enjoy a wealth of travel privileges.

ASMALLWORLD members can engage through its app and website, receive travel inspiration, and meet in person at over 800 global ASMALLWORLD events every year, ranging from casual get-togethers, access to exclusive launches, galas, major global sporting events, and larger flagship weekend experiences hosted in iconic destinations such as Saint-Tropez and St. Moritz.

Beyond the social network, the ASMALLWORLD Group extends into bespoke travel planning, luxury hospitality, and strategic B2B collaborations. Through its diverse portfolio, the Group fosters a like-minded global community, curated access to the best luxury travel benefits and lifestyle experiences.

Other businesses in the ASMALLWORLD travel ecosystem include:

ASMALLWORLD Collection, a high-end online hotel booking engine focused on the world’s most admired hotels, offering the unique “ASMALLWORLD VIP Rate,” which allows customers to enjoy exclusive travel benefits at no extra cost.

ASMALLWORLD Bespoke Travel, operates as a high-end travel agency offering personalised travel

curation services, serving as a B2B partner to independent travel advisors while providing direct B2C

experiences to its individual members.

ASMALLWORLD DISCOVERY, part of Global Hotel Alliance alongside 45 leading hotel brands, services independent hotels in providing access to the GHA DISCOVERY loyalty network

ASMALLWORLD Hospitality, a hospitality and management consultancy that supports owners and developers of hospitality assets throughout the different lifecycle stages of their assets, including acquisition, development, operations and exit.

First Class & More, a subscription-based smart luxury travel service that allows members to enjoy luxury travel at insider prices.

The World’s Finest Clubs, the world’s leading nightlife concierge offers its members VIP access to the most exclusive nightlife venues around the world.

Jetbeds, a premier booking platform specialising in affordable Business and First-Class flights, offering exclusive deals, expert advice and personalised service.

For more information, please visit:

www.asmallworldag.com

www.asmallworld.com

www.asmallworldcollection.com

www.asmallworldbespoke.com

www.asmallworlddiscovery.com

www.asmallworldhospitality.com

www.first-class-and-more.de

www.first-class-and-more.com

www.finestclubs.com

www.jetbeds.com

Producer prices in the Republic of Korea rose for a fifth straight month in January, driven by firmer semiconductor prices and higher agricultural costs, according to central bank data that point to lingering pipeline inflation pressures in Asia’s fourth-largest economy.

Figures released by the Bank of Korea showed the producer price index increased on both a monthly and annual basis, extending a run of gains that began in early autumn. Officials attributed the latest rise largely to a rebound in memory chip prices and elevated food-related costs, reflecting supply constraints and weather-related disruptions.

Semiconductors, a cornerstone of the country’s export-led economy, played a decisive role. Prices for key memory products, including DRAM and NAND flash, strengthened as global demand for data centres and artificial intelligence applications continued to absorb inventories. After a prolonged downturn that weighed on manufacturing output through 2023, chipmakers have benefited from tighter supply and renewed investment in high-performance computing, pushing upstream prices higher.

Industry analysts say the upturn in chip prices has filtered through supply chains, lifting overall producer prices even as energy costs have remained comparatively stable. Manufacturing accounts for a substantial share of Korea’s producer basket, meaning swings in technology components can exert an outsized influence on headline figures.

Agricultural products also recorded notable gains. Unfavourable weather conditions and higher input costs contributed to increases in fruit, vegetable and livestock prices. Food-related producer costs are closely watched because they can pass through to consumer prices with a lag, particularly in a country where household spending on fresh produce forms a visible part of the inflation basket.

The latest data suggest cost pressures remain uneven across sectors. While energy prices have moderated from peaks seen after geopolitical disruptions in global oil and gas markets, certain industrial materials and processed foods have shown persistent firmness. Service-sector producer prices, including transport and logistics, have also edged higher, reflecting wage adjustments and operating expenses.

Economists note that sustained increases in producer prices can eventually feed into consumer inflation, although the transmission is neither automatic nor immediate. Consumer price growth has eased from multi-year highs reached in 2022, but remains sensitive to food and housing costs. The central bank has kept its benchmark interest rate at a restrictive level since early 2023 in a bid to anchor inflation expectations and support financial stability.

Policy deliberations in Seoul have balanced the need to contain price pressures against concerns over slowing domestic demand and household debt. Export performance has improved alongside the semiconductor recovery, yet construction activity and private consumption have shown mixed signals. A continued rise in producer prices may complicate the timing of any monetary easing, particularly if global commodity prices remain volatile.

The global context adds another layer of uncertainty. Demand for advanced chips linked to artificial intelligence has bolstered Korea’s trade outlook, but cyclical risks persist in other manufacturing segments, including petrochemicals and steel. At the same time, agricultural markets remain exposed to climate variability, which can amplify price swings and affect food security.

Market participants are closely monitoring whether the current producer price trend represents a stabilisation after last year’s weakness or the beginning of a more entrenched cost cycle. Some analysts argue that the semiconductor rebound is structural, underpinned by sustained capital expenditure in cloud infrastructure and next-generation devices. Others caution that technology demand can be volatile, and that inventory adjustments may re-emerge later in the year.

For policymakers, the composition of producer price growth is as important as the headline number. Increases concentrated in export-oriented sectors may bolster corporate earnings and investment, whereas broad-based gains across consumer-linked industries could signal renewed inflationary momentum. The central bank has indicated it will continue to assess data on prices, wages and growth before making any shift in its policy stance.

Businesses, meanwhile, face decisions on whether to absorb higher input costs or pass them on to customers. Large technology firms may have greater pricing power in global markets, but small and medium-sized enterprises, particularly in food processing and retail supply chains, operate on thinner margins.

Battery swapping allows drivers to exchange a depleted battery for a fully charged one in a matter of minutes at automated stations. Proponents argue that the process reduces waiting times, eases pressure on charging grids and addresses consumer concerns over driving range. The single-day tally reflects the rapid build-out of swapping infrastructure, particularly in urban clusters where electric vehicle adoption has surged.

Nio, one of the most prominent advocates of the model, has invested heavily in automated swap stations capable of completing a battery exchange in roughly three to five minutes. The company has deployed thousands of such stations nationwide, positioning the service as a core part of its premium brand offering. CATL, the world’s largest electric vehicle battery manufacturer, has also entered the segment, unveiling standardised battery packs and modular swap solutions aimed at broader industry adoption.

The record comes as authorities continue to encourage innovation in electric mobility as part of wider decarbonisation efforts. China remains the world’s largest market for electric vehicles, accounting for more than half of global sales. According to industry data, new energy vehicles — which include battery-electric and plug-in hybrid models — have steadily expanded their share of total car sales, supported by policy incentives, local government backing and a dense manufacturing ecosystem.

Supporters of battery swapping argue that the model can complement fast-charging networks rather than replace them. While high-powered chargers have improved, recharging times can still extend beyond 20 minutes depending on capacity and grid availability. Swapping offers a predictable and shorter turnaround, which fleet operators such as ride-hailing and logistics companies view as critical to maintaining vehicle utilisation rates.

Industry analysts note that standardisation has historically been a barrier to wider adoption. Different vehicle platforms often require unique battery configurations, complicating interoperability. CATL has sought to address this by promoting unified battery specifications that could be shared across brands. If widely adopted, such standardisation could lower infrastructure costs and accelerate rollout beyond premium segments.

Nio has expanded partnerships with other manufacturers to open its swapping network to additional vehicle models. The company has also integrated digital systems to allow drivers to locate stations, reserve slots and monitor battery health. Executives argue that separating vehicle ownership from battery ownership — through subscription-style battery leasing — reduces upfront purchase prices and mitigates concerns over long-term battery degradation.

However, sceptics question whether the economics can be sustained at scale. Building and maintaining automated swap stations requires substantial capital expenditure. Each site houses multiple battery packs, robotic handling systems and grid connections capable of recharging stored units. Critics argue that fast-charging networks, which rely on increasingly powerful chargers, may offer a more straightforward path to expansion without the need for physical battery inventories.

Grid management is another factor shaping the debate. Swapping stations can recharge batteries during off-peak hours and potentially provide energy storage services to the grid. By smoothing demand, operators may reduce strain during peak periods. Analysts suggest that such integration could become more valuable as renewable energy capacity grows and grid balancing becomes more complex.

Beyond domestic deployment, Chinese firms have signalled ambitions to export swapping technology. Pilot projects have been announced in parts of Europe and Asia, though regulatory frameworks and consumer preferences vary widely. In markets where home charging is common and long-distance travel patterns differ, adoption may face distinct challenges. Even so, global interest in reducing charging bottlenecks has prompted automakers and policymakers to monitor developments closely.

Competition within China’s electric vehicle market remains intense. Dozens of manufacturers are vying for market share amid price competition and rapid technological upgrades. Infrastructure innovation has become a key differentiator. Companies capable of offering integrated ecosystems — spanning vehicle, battery, software and energy services — are viewed as better positioned to secure customer loyalty in a crowded field.

The 146,000-swap benchmark illustrates how quickly usage volumes can scale once infrastructure density reaches critical mass. Urban corridors linking major economic centres have seen particularly high utilisation rates, with drivers opting for swaps during peak commuting hours. Fleet operators report that predictable turnaround times improve route planning and asset productivity.