UAE Naphtha Shipment Arrives at Yeosu Port, Boosting Petrochemical Production "Ships carrying naphtha from around the world are arriving one after another. It's a sight we haven't seen in nearly a decade," said a worker at the Yeosu-Gwangyang port. On May 11, the petrochemical and shipping industries reported that major domestic petrochemical companies, which had reduced their operating rates to around 50% in March and April due to a shortage of Middle Eastern naphtha, are now ramping up production after securing alternative supplies from the U.S., Algeria, and Oma May 12, 2026

Trump Says Iran Ceasefire is Fragile, Considers Resuming Project Freedom On May 11, Donald Trump, President of the United States, stated that the ceasefire with Iran is tenuous and indicated he is considering the resumption of the halted "Project Freedom." During a press briefing at the White House, Trump described the ceasefire as "incredibly weak, in the weakest state." He elaborated, saying, "The ceasefire is heavily reliant on life support, and the doctor says there’s about a 1% chance of survival." Trump emphasized that he finds Iran's proposals unacc May 12, 2026

U.S. and South Korea Defense Ministers Discuss Strengthening Cooperation On May 11, South Korean Defense Minister An Gyu-baek met with U.S. Secretary of Defense Pete Hegseth in the United States. According to Yonhap News, the two ministers held talks at the Pentagon near Washington, D.C. This meeting marked the first time the defense ministers have convened since their discussions during the 57th Korea-U.S. Security Consultative Meeting (SCM) in Seoul on November 4 of the previous year. In his opening remarks, Hegseth referenced the U.S. military operation agai May 12, 2026

Korea-Vietnam Copyright Forum Addresses Content Protection in the AI Era The Vietnamese government has launched a crackdown on intellectual property violations, targeting online piracy and counterfeit goods. This initiative stems from the belief that issues related to intellectual property infringement directly impact Vietnam's investment climate and national credibility. In conjunction with this effort, the Korea-Vietnam Copyright Forum was held to discuss protective measures suitable for the digital and artificial intelligence (AI) era. According to vario May 12, 2026

To Avoid Increasing Debt, Inclusive Finance Must Evolve While walking through my hometown recently, I counted the "For Rent" signs on buildings that had housed businesses for decades. The closure of these shops starkly illustrates the challenges faced by self-employed individuals.The difficulties in the field are reflected in the numbers. As of the end of last year, six out of ten self-employed individuals who borrowed from financial institutions were found to be multiple debtors, having taken loans from three or more sources. This indicates a relian May 12, 2026

Vietnam Launches Crackdown on Illegal Streaming Platforms The popular Vietnamese free streaming site DoraWatch has announced its closure. This decision comes as the Vietnamese government has intensified its nationwide crackdown on intellectual property infringement starting in May, casting a shadow over illegal content distribution within online communities. Despite this, illegal movie sites continue to reappear under different domains, testing the response capabilities of authorities and the industry. According to various Vietnamese media o May 12, 2026

Hyundai Vice Chairman Jang Jae-hoon Receives Gold Tower Industrial Medal Jang Jae-hoon, Vice Chairman of Hyundai Motor, has been awarded the Gold Tower Industrial Medal for his leadership in transitioning to future vehicles through significant domestic investments and securing key technologies. The Ministry of Trade, Industry and Energy presented the awards during the 23rd annual Automotive Day ceremony held at the JW Marriott Hotel in Seoul on May 12. The event was attended by over 300 industry representatives, including Deputy Minister Moon Shin-hak, Korea Au May 12, 2026

What’s Next for Seoul Housing Prices After May 9? On May 4, the head of the Presidential Policy Office held a briefing on the real estate market, stating that there would be no surge in housing prices after May 9, but rather a gradual increase. While this was meant to emphasize that a price spike was unlikely, some critics argued that the use of the term "increase" was premature. President Yoon Suk Yeol expressed a strong commitment to normalizing housing prices in Seoul through social media, hinting at a reversal in housing price foreca May 12, 2026

Customs Chief Lee Myung-goo: Strengthening Drug Prevention Efforts Lee Myung-goo has become the fourth internal appointee to serve as the head of the Korea Customs Service since its establishment. Born in 1969 in Miryang, South Gyeongsang Province, he graduated from Seoul National University with a degree in business administration and earned a Ph.D. in economics from the University of Birmingham. He entered public service after passing the 36th National Civil Service Examination and has held various key positions within the Customs Service. Lee has serv May 12, 2026

Korea's Customs Chief Discusses Tariff Changes for Canadian Oil Imports As uncertainty surrounding oil supplies through the Strait of Hormuz increases due to ongoing conflicts in the Middle East, the need for diversifying energy sources has become more pressing. Given South Korea's heavy reliance on Middle Eastern oil, there are concerns that escalating geopolitical crises could disrupt not only prices but also the overall industrial supply chain. In this context, Customs Commissioner Lee Myung-koo spoke with Aju Economy, stating, "We recently issued a joint s May 12, 2026