Toss Bank Hires Strategy Expert Amid Focus on Expanding Loans for Low-Middle Credit Borrowers Amid growing concerns over the practice of "cherry-picking" high-quality customers by internet banks, Toss Bank has taken steps to improve its operations by hiring a strategy expert from Coupang. With the average credit score of its borrowers being higher than that of traditional banks, Toss Bank faces the challenge of expanding loans for low and middle credit borrowers while balancing profitability and soundness.According to the financial sector on May 11, Toss Bank has established a new positi May 12, 2026

Korean Automakers Reach 76 Million Exports After 50 Years in Global Markets Korea's automotive industry has achieved a significant milestone, reaching a cumulative export total of 76 million vehicles after 50 years in international markets. This accomplishment reaffirms the industry's vital role in the nation's economic growth. According to the Korea Automobile Mobility Industry Association (KAMA), as of last month, a total of 76,548,569 vehicles have been exported. This record comes 50 years after Hyundai Motor Company exported its first domestic passenger car, t May 12, 2026

Lee Jae-myung's Inclusive Finance and the Challenges for Financial Leaders President Lee Jae-myung described the achievements of the Financial Services Commission in inclusive finance as "remarkable" during a Cabinet meeting, highlighting a significant shift in approach. Banks are reducing the external sale of delinquent debts, a long-standing practice, and are expanding internal debt restructuring and collection efforts. This change marks a transition from a focus on debt recovery to supporting economic recovery, reflecting a broader change in the perception of financ May 12, 2026

LVMH Chairman Bernard Arnault Visits South Korea After Three Years Bernard Arnault, chairman of Louis Vuitton Moët Hennessy (LVMH), visited South Korea for the first time in three years, touring major domestic retail channels such as Shinsegae and Lotte. His visit underscores the strategic importance of the Korean market as Louis Vuitton has recorded its highest-ever performance in the country amid a slowdown in global luxury market growth.According to the retail industry, Arnault arrived at Shinsegae Department Store's flagship location in Sogong-dong, Seoul, May 12, 2026

U.S. Stocks Rise Amid Middle East Tensions, S&P 500 Surpasses 7400 for First Time Donald Trump, the President of the United States, highlighted the precarious nature of the ceasefire with Iran, bringing renewed attention to tensions in the Middle East. Despite this, U.S. stocks closed slightly higher, buoyed by a rally in artificial intelligence (AI) stocks. On May 11, the Dow Jones Industrial Average finished up 0.19%, or 95.31 points, at 49,704.47. The S&P 500 index, which is heavily weighted toward large-cap stocks, rose 0.19%, or 13.91 points, to close at 7,412. May 12, 2026

Lotte World Enhances Theme Park Experience with Unique Attractions in Seoul and Busan Lotte World is enhancing its competitiveness in the theme park market by introducing tailored content in Seoul and Busan. Lotte World Adventure in Seoul has attracted 100,000 visitors through its collaboration with the game franchise MapleStory, while Busan is expanding its experiential spaces with a series of new media-based attractions. ◆ Seoul's MapleStory Experience Attracts Over 100,000 Visitors According to Lotte World on May 12, the MapleStory collaboration "Create Your Own Char May 12, 2026

Search Continues for Missing Elementary Student in Juwangsan National Park 경북 청송 주왕산국립공원에서 산행에 나섰던 초등학생이 실종돼 수색 당국이 사흘째 수색에 나섰다. On May 12, Yonhap News reported that the Gyeongbuk Provincial Police Agency, Gyeongbuk Fire Department, and the Korea National Park Service are continuing large-scale search efforts in Juwangsan National Park for a missing elementary student, identified as A. On May 11, authorities deployed 80 personnel, including 40 police officers, 28 firefighters, and 12 national park staff, along with five d May 12, 2026

Fake K-ramen Spreads to Nepal with Korean Branding "Feels like a Korean store"... Counterfeit Korean ramen floods Nepali resort On May 8, at a supermarket in Pokhara, Nepal, a popular tourist destination just a 10-minute walk from Phewa Lake, the ramen aisle was the first thing to catch the eye. Most of the products on the shelves featured Korean writing, creating a familiar atmosphere reminiscent of a Korean grocery store. Upon closer inspection, however, a strange sense of unease emerged. While the products appeared to be K May 12, 2026

KOSPI Hits Record High Amid Samsung and SK Hynix Surge, Deepening 'K-Shaped' Market ◆Ajou Economic Major News ▷KOSPI reaches all-time high as semiconductor stocks rally - The KOSPI index has once again set a record high. - A rally in major semiconductor stocks, led by Samsung Electronics and SK Hynix, has pushed the KOSPI index close to the 7,900 mark. - However, the upward trend is concentrated on these two large-cap semiconductor stocks, leading to a pronounced 'K-shaped' divergence in stock performance. - Analysts are expressing optimistic forecasts, with domestic brok May 12, 2026

[ASIA BIZ] Geely and BYD Target Global Aging Car Factories for Acquisition Chinese automaker Geely is reportedly in talks to acquire the third body assembly line at Ford's Valencia plant in Spain, according to local media. This line previously produced models such as the Ford Mondeo and S-Max but has been inactive since those models were discontinued. Geely plans to renovate the line for the production of small electric vehicles (EVs) and hybrids specifically for the European market. Recent reports from Chinese economic media outlet, The Economic Observer, indic May 12, 2026