Shift Up Reports Q1 Operating Profit of 21.5 Billion Won Amid Game Sales Growth Shift Up announced on May 11 that its consolidated revenue for the first quarter of 2026 reached 47.3 billion won, a 12% increase compared to the same period last year. However, operating profit fell to 21.5 billion won, a decrease of 18.1%, while net profit rose by 40.8% to 37.8 billion won. In terms of individual games, 'Stella Blade' saw an 84% increase year-on-year, generating 12.9 billion won, although it was down 24.9% from the previous quarter. 'Goddess of Victory: Nikke' reported r May 12, 2026

Iran Rejects U.S. Demands for Ending Hostilities Iran's government has officially stated that it cannot accept unilateral demands from the United States regarding recent proposals to end hostilities. On May 11, Esmail Baghaei, spokesperson for the Iranian Foreign Ministry, emphasized during a press conference that "our demands are not excessive and are entirely justified." He made it clear that the release of Iranian assets frozen in foreign banks is a prerequisite for any negotiations. Baghaei characterized the U.S. seizure of Irania May 12, 2026

South Korea to Import U.S. Eggs Amid Rising Prices As egg prices continue to soar, the South Korean government has decided to officially import fresh eggs from the United States starting this week. If prices do not stabilize, the government plans to consider additional imports of fresh eggs from the U.S. and Thailand.On May 11, the Ministry of Agriculture, Food and Rural Affairs held its 17th supply and demand situation meeting, chaired by Park Jeong-hoon, head of the Food Policy Office, to discuss response measures.The government is particularl May 12, 2026

President Lee: Preference Voting System Aims to Save Time and Costs in Runoff Elections President Lee Jae-myung stated on May 11 that the preference voting system being implemented by the Democratic Party in the race for the 22nd National Assembly Speaker is designed to save time and costs associated with runoff elections. The preference voting system allows voters to rank their preferred candidates to determine the winner. In a post on X (formerly Twitter), President Lee explained, "The preference voting system was introduced alongside the runoff voting system when I was t May 12, 2026

National Tax Service to Track Cryptocurrency Wallet Addresses with New System The National Tax Service (NTS) has officially begun developing a dedicated computer system for tracking and analyzing cryptocurrency transactions. On May 11, the NTS announced that the Seoul Regional Tax Office's Information Center and Nanal SMI held an inauguration ceremony for the 'Integrated Analysis System for Virtual Assets' on May 8. The project aims to be completed by the end of December this year, with a total budget of 2.99 billion won (including value-added tax, excluding May 12, 2026

What Should Humanity Achieve After AI? Captain Kang Sang-bo Discusses 'Meaning Civilization' As artificial intelligence (AI) rapidly reshapes production methods and social structures, the role and value of humanity face fundamental questions. Captain Kang Sang-bo, author of The Master Key and a civilization designer, stated in a recent interview that "the key transition in the AI era is not the enhancement of technological capabilities, but rather humanity's shift from 'method' to 'meaning.'" He emphasized the need to build a new form of civilization through this transition. Kang has lo May 12, 2026

Han Deok-soo Appeals 15-Year Sentence for Role in Coup-Related Charges Han Deok-soo, sentenced to 15 years in prison for his involvement in the December 3 martial law declaration and related coup duties, has filed an appeal against the ruling. According to legal sources on May 11, Han's legal team submitted the appeal to the Seoul High Court's Criminal Division 12-1, which presided over his case. On May 7, the appellate court sentenced Han to 15 years, reducing his initial 23-year sentence by eight years; however, it maintained guilty verdicts on most of May 12, 2026

Korea Racing Authority Discusses Relocation of Headquarters and LetsRun Park In line with the government's second phase of public institution relocations, the Korea Racing Authority (KRA) is undergoing organizational restructuring, intensifying discussions about relocating its headquarters and LetsRun Park. However, the selection of a new site, funding, and regional conflicts present significant challenges that may delay the actual move. According to the public institution management information disclosure system, Alio, KRA's board of directors approved the May 12, 2026

Kim Jin-il Recommended as New Member of Bank of Korea's Monetary Policy Committee The Bank of Korea announced on May 11 that Kim Jin-il, a professor at Korea University, has been recommended as a new member of the Monetary Policy Committee (MPC). Recommended by the Bankers Association, Kim, born in 1967, graduated from Seoul High School and earned both his bachelor's and master's degrees in economics from Seoul National University. He obtained his Ph.D. in economics from Yale University. Kim has previously worked as an economist at the Federal Reserve Board (FRB), an May 12, 2026

Companies Struggle with AI Transition: Redesigning Operations is Essential Despite ongoing attempts by South Korean companies to transition to artificial intelligence (AI), many are stalling at the implementation stage and failing to achieve tangible results. Most failures stem from treating AI as a mere tool, highlighting the need for a fundamental redesign of work processes around AI. According to the Korea Artificial Intelligence and Software Industry Association (KOSA), the utilization rate of AI in South Korea's manufacturing sector remains at just 17.9%. May 12, 2026