Five Major Banks Increase Self-Rescue Efforts by 3.5 Times Amid Debt Management Changes President Lee Jae-myung praised the Financial Services Commission's achievements in inclusive finance as "remarkable" during a Cabinet meeting, highlighting a shift in how banks manage delinquent loans. Instead of selling off delinquent accounts to external collection agencies, banks are now focusing on internal debt adjustments and loan forgiveness to help borrowers recover. Documents obtained from the Cabinet meeting on May 11 reveal that the five major commercial banks—KB Kookmin, Shinh May 12, 2026

Samsung SDS Consortium Selected as Private Partner for National AI Computing Center The Ministry of Science and ICT announced on May 11 that the Samsung SDS Consortium has been selected as the private partner for the establishment of the National Artificial Intelligence (AI) Computing Center. The ministry plans to invest a total of 2.5 trillion won (approximately $2 billion) through a public-private partnership special purpose company (SPC) to build a national AI infrastructure capable of supporting 15,000 advanced AI semiconductors by 2028. The consortium includes Sam May 12, 2026

Vietnamese Parents Express Concerns Over Youth Exposure to Online Content In Vietnam, where online learning has become commonplace, a growing social debate surrounds the exposure of youth to harmful content. Parents and schools are at odds over their responsibilities, struggling to find effective solutions. According to a report by the Vietnamese media outlet Tuoi Tre on May 11, 87% of adolescents aged 12 to 17 use the internet daily, with many spending 5 to 7 hours online. Additionally, 74% of these youths access the internet during school hours. This trend s May 12, 2026

Refinery Sector Anticipates Earnings Surprise Amid High Oil Prices Domestic refiners are expected to report an earnings surprise for the first quarter of 2026 due to high oil prices stemming from the ongoing conflict in the Middle East. However, the increase in profits is attributed to low-cost crude oil inventories, raising concerns about deteriorating performance in the second quarter without compensation for losses incurred under the price cap policy. On May 11, S-Oil announced an operating profit of 1.2311 trillion won for the first quarter. According May 12, 2026

Apple Faces Ongoing Controversy Over False Advertising Claims Apple has strongly refuted allegations of false advertising regarding its artificial intelligence (AI) system, Apple Intelligence, as a domestic civic group has officially urged the Fair Trade Commission (FTC) to disclose investigation materials.On May 11, the Seoul YMCA's Civic Mediation Office criticized Apple’s official statement released on May 8, interpreting it as a denial of violations of the Fair Labeling and Advertising Act. They stated, "It is absurd for Apple to discuss negotiations w May 12, 2026

T'way Air Returns to Profit After Two Years, Boosted by Winter Travel and Cargo Business T'way Air has successfully returned to profitability for the first time in two years, driven by increased passenger numbers and a robust cargo transport business. On May 11, T'way Air announced that its operating profit for the first quarter reached 19.9 billion won, marking a return to the black after eight quarters. Revenue totaled 612.2 billion won, a 37% increase compared to the same period last year. The airline's improved performance is attributed to a surge in travel demand during May 12, 2026

KOSPI Approaches 8000 Mark Amid Strong Buying from Retail Investors On May 11, the KOSPI index surged close to the 8000 mark, buoyed by strong buying from both retail and institutional investors. The index rose more than 4%, surpassing the 7800 level. According to the Korea Exchange, the KOSPI closed at 7822.24, up 324.24 points (4.32%) from the previous trading day. It opened at 7775.31, gaining 277.31 points (3.70%) as retail buying momentum increased. Lee Kyung-min, a researcher at Daishin Securities, noted, "The KOSPI continues its upward trend, driv May 12, 2026

Court Fines Yoon Woo-jin 3 Million Won for Failing to Appear as Witness in Yoon Suk Yeol Case In a trial concerning allegations of disseminating false information during the 20th presidential election, former President Yoon Suk Yeol's witness, former tax office chief Yoon Woo-jin, failed to appear. As a result, the court imposed a fine on Yoon Woo-jin and issued an arrest warrant. On May 11, the Seoul Central District Court's Criminal Division 21, presided over by Judge Cho Soon-pyo, fined Yoon Woo-jin 3 million won for his absence from the trial related to the violation of the Pu May 12, 2026

Culley Reports Record Quarterly Earnings with 1,277% Surge in Operating Profit Retail tech company Culley reported its highest quarterly performance since its founding in the first quarter of this year. Culley announced on May 11 that its consolidated operating profit for the first quarter reached 24.2 billion won, a staggering 1,277% increase compared to the same period last year. During the same period, revenue grew by 28.4% to 745.7 billion won. The company also reported a net profit of 20.3 billion won, marking a return to profitability. The total gross me May 12, 2026

South Korea Condemns Attack on HMM Namoo in Hormuz Strait The Blue House stated on May 11 that the fire on the South Korean vessel HMM Namoo in the Hormuz Strait was confirmed to be caused by an external attack. The government emphasized that attacks on civilian vessels, including the Namoo, cannot be justified or tolerated. However, officials refrained from speculating on the identity of the attackers, maintaining a cautious stance. Wi Sung-lak, Chief of the National Security Office, expressed strong condemnation of the attack during a briefi May 12, 2026