Government to Establish Joint Connection System to Expand Offshore Wind Power The South Korean government is set to address the grid connection issues that have hindered the expansion of offshore wind power by establishing a joint connection system. On May 15, the Ministry of Climate, Energy, and Environment held a signing ceremony and meeting for the promotion of joint offshore wind connections at the Korea Electric Power Corporation's Gyeongin Construction Headquarters. This initiative follows the announcement last December of plans to expand and promote offshore May 15, 2026

KOBA 2026: The Era of High-Quality Video Production The KOBA 2026 exhibition, South Korea's largest broadcasting and video equipment showcase, is no longer just a platform for broadcasters and film production companies. With the rapid growth of short-form content on platforms like YouTube, TikTok, and Instagram Reels, everyday consumers and individual creators have emerged as key players in the professional video production market.Held from May 12 to 15 at COEX in Samseong-dong, Seoul, KOBA 2026 featured numerous booths from global camera manufac May 15, 2026

COFIX Rises After a Month, April Rate Up 0.08% Banking sector variable mortgage rates, determined by the COFIX (Cost of Funds Index), have risen after a month. The Korea Federation of Banks reported on May 15 that the new COFIX for April was 2.89%, an increase of 0.08 percentage points from March's rate of 2.81%.The balance-based COFIX also rose from 2.85% to 2.87%, an increase of 0.02 percentage points. COFIX represents the weighted average interest rate of funds raised by eight domestic banks. An increase in COFIX indicates that banks are May 15, 2026

Oh Se-hoon Visits Cheonggyecheon with Lee Myung-bak on Teacher's Day Oh Se-hoon, the People Power Party candidate for Seoul mayor, expressed his happiness on May 15 while walking along Cheonggyecheon with former President Lee Myung-bak, whom he referred to as his "mentor in my heart." The two walked along Cheonggyecheon from Cheonggye Plaza to Gwangtonggyo Bridge, sharing their thoughts during the stroll. While walking, Lee stated, "This is no longer just our Seoul; it is a Seoul for the world," emphasizing the need to create works that reflect this globa May 15, 2026

Moon Seong-yo Appointed Head of Saemangeum Development Agency Moon Seong-yo was appointed as the head of the Saemangeum Development Agency on May 15. Moon, who hails from Jeju and graduated from Jeju High School and Korea University with a degree in English literature, also holds a master's degree in economics from the University of Illinois in the United States. He entered public service in 1994 after passing the 37th National Civil Service Examination and has held various positions, including Director of Housing Welfare Planning at the Ministry of Land May 15, 2026

Mirae Asset Life Reports 534 Billion Won in Q1 Profit, Driven by Growth in Protection Insurance Mirae Asset Life has more than doubled its net profit in the first quarter of this year, thanks to an expansion in protection insurance sales. The company reported improvements in its health insurance product portfolio and continued growth in commission-based businesses such as variable insurance and retirement pensions. On May 15, Mirae Asset Life announced that its consolidated net profit for the first quarter reached 534 billion won, marking an increase of approximately 115% compared t May 15, 2026

Prague Spring Festival Celebrates Classical Music and Culture Prague, the romantic city of Europe, is immersed in classical melodies as the Prague Spring International Music Festival kicked off on May 12. This year, the festival is particularly special for Korean travelers, as it coincides with the news of a young Korean pianist winning a prestigious competition. The 81st Prague Spring International Music Festival, running until June 4, is a premier cultural event in the Czech Republic. This year, renowned musicians such as conductor Simon Ratt May 15, 2026

Thinkware Reports 1st Quarter Revenue of 119.7 Billion Won Amid Operating Loss Thinkware announced on May 15 that it recorded consolidated revenue of 119.7 billion won and an operating loss of 4.6 billion won for the first quarter of this year. Revenue decreased by 16% compared to the same period last year, and the company shifted from an operating profit of 400 million won in the first quarter of 2025 to a loss this year. A company representative explained, "The results were impacted by delays in the supply schedule of some products, rising prices of raw material May 15, 2026

South Korea Welcomes US-China Summit; Deputy Foreign Minister to Visit Washington South Korea's Blue House expressed a welcoming stance on May 15 regarding the US-China summit held in Beijing between President Donald Trump and Chinese President Xi Jinping. Hong Kyoo-yeon, the Chief of Public Relations, stated during a briefing at the Chunchugwan that the South Korean government welcomes the meeting as it fosters a framework for cooperation between the US and China. He added, "We expect that this will strengthen the relationships between South Korea and China, as well as betwe May 15, 2026

Krafton's Subnautica 2 Surpasses 2 Million Sales in 12 Hours Krafton's creative studio Unknown Worlds has launched its new title, 'Subnautica 2,' which is experiencing global success. Krafton announced on May 15 that 'Subnautica 2' surpassed 2 million in cumulative sales just 12 hours after its early access release. The game recorded a peak concurrent player count of 651,000 across Steam, Epic Games Store, and Xbox platforms. Of this, Steam alone accounted for a peak of 467,000 concurrent players. Initial player feedback has been positive, wit May 15, 2026