[ASIA BIZ] China in No Rush, Japan Stands Firm: Will APEC in Shenzhen Provide a Breakthrough? Earlier this month, Yasutoshi Nishimura, head of the ruling Liberal Democratic Party's election strategy, visited Beijing. This marked the first trip to China by a senior member of the ruling party since the Takaiichi administration took office, but he did not meet with any high-ranking Chinese officials. Despite traveling to Beijing, Japan was unable to find any clues for dialogue. While Japan seeks a way out, China sees no reason to rush, reflecting the current state of Japan-China relat May 12, 2026

[ASIA BIZ] Tensions Rise Between China and Japan Amid Diplomatic Strain On May 3, during China's Labor Day holiday, state-run Xinhua News Agency broadcast a statement from the Chinese Foreign Ministry marking the 80th anniversary of the Tokyo Trials. While China commemorates this day as the start of the Allied prosecution of Japanese war criminals after World War II, it is unusual for the Foreign Ministry to issue a statement on the occasion. The key theme of the statement was 'new militarism,' accusing Japan's right-wing factions of using the guise of a 'pea May 12, 2026

Global Automakers Intensify Localization Efforts in China As Chinese automotive companies expand into overseas markets, global automakers are intensifying their efforts to penetrate the Chinese market. With China emerging as the world's largest automotive market and a key testing ground for the global auto industry, international companies are focusing on models tailored specifically for Chinese consumers and applying local technologies. Notably, the average age of new car buyers in China is decreasing, leading to a growing preference for vehicl May 12, 2026

Top Five Banks Increase Self-Rescue Efforts by 3.5 Times Amid Praise from President Lee President Lee praises financial commission's inclusive finance achievements President Lee Jae-myung publicly commended the financial commission's achievements in inclusive finance as "remarkable" during a cabinet meeting. This praise follows a shift in how banks manage delinquent loans, moving away from selling them to external collection agencies and instead focusing on internal debt restructuring and loan forgiveness to support borrowers' recovery. According to documents obtained by May 12, 2026

Kakao Shareholders Upset Over Union Bonus Demands Amid Stock Struggles Kakao's union is set to demand bonuses as it prepares for collective action, following Samsung Electronics' union's call for a 10% bonus based on operating profit. This has intensified labor-management tensions in the industry. Unlike Samsung, which has seen its stock price reach record highs, Kakao's shares have plummeted to near yearly lows, raising concerns that the company is prioritizing bonus demands over enhancing corporate value. On May 11, the KOSPI index surpassed 7,800, approac May 12, 2026

Russia and Ukraine Accuse Each Other of Ceasefire Violations, Peace Talks Stalled Russia and Ukraine are engaged in a heated exchange of accusations over ceasefire violations during a truce brokered by U.S. President Donald Trump. According to Yonhap News Agency, the Russian Defense Ministry reported on May 11 that since the ceasefire began at midnight on May 9, there have been a total of 23,802 recorded violations by Ukrainian forces within the designated "special military operation" zone. In just one day, the Ukrainian military allegedly fired 767 rounds using mu May 12, 2026

Coupang Files Lawsuit Against Fair Trade Commission Over Designation of Founder Kim Beom-seok Coupang has filed a lawsuit against the Fair Trade Commission (FTC) seeking to overturn its decision to designate founder Kim Beom-seok as the company's individual representative. According to Yonhap News on May 11, Coupang submitted the lawsuit to the Seoul High Court on May 8, contesting the FTC's designation. The company also filed for a suspension of the enforcement of this designation on May 9. On April 29, the FTC changed the designation of Coupang's representative from the co May 12, 2026

Prosecutor Park Sang-yong Appears Before Disciplinary Committee Over Salmon Party Allegations Prosecutor Park Sang-yong of the Incheon District Prosecutors' Office appeared before the Supreme Prosecutors' Office's disciplinary committee to address allegations of testimony coercion related to the 'salmon party' incident. He stated, "I provided a thorough explanation regarding the inaccuracies." The disciplinary committee convened on the afternoon of May 11 to deliberate on potential disciplinary actions against Park. The allegations under review include: the importation of alcoho May 12, 2026

Search Continues for Missing 11-Year-Old in Juwangsan National Park Search authorities are continuing their nighttime efforts to locate an 11-year-old boy, A, who went missing in Juwangsan National Park in Cheongsong County, North Gyeongsang Province. On May 11, officials from the North Gyeongsang Provincial Police Agency, the North Gyeongsang Fire Department, and the Korea National Park Service reported that they would deploy equipment and personnel for nighttime searches. Considering the weather conditions, the search will involve 80 personnel, incl May 12, 2026

NHN to Buy Back 430,000 Shares and Burn Them to Enhance Shareholder Returns NHN announced it will buy back 430,000 shares and subsequently burn them, aiming to strengthen its commitment to shareholder returns. The company stated on May 11 that it will acquire 431,525 shares from May 12 to August 11. The total value of the buyback is approximately 16.7 billion won, and NHN plans to burn all acquired shares. KB Securities will manage the buyback. By burning the shares instead of holding them, NHN aims to reduce the number of shares in circulation and increase t May 12, 2026