Climate Minister Warns of Possible KEPCO Losses Amid Prolonged Middle East Conflict Minister Kim Sung-hwan of the Ministry of Climate, Energy and Environment stated on May 28 that if the conflict in the Middle East continues, there is a possibility that Korea Electric Power Corporation (KEPCO) could return to losses due to rising gas prices.During his appearance on the YouTube program "Jang Yoon-sun's Convenience Store for Reporting," Kim discussed the energy price instability stemming from the prolonged conflict, noting, "We are beginning to see pressure from rising gas prices May 28, 2026

Bank of Korea Holds Interest Rate Steady for Eighth Consecutive Time, Signals Possible Hike The Bank of Korea's Monetary Policy Committee decided on May 28 to keep the benchmark interest rate at 2.50% for the eighth consecutive time. However, for the first time, the committee's policy statement indicated a potential timeline for future rate hikes, suggesting a shift towards tightening monetary policy. In the statement, the committee noted, "Future monetary policy will be determined by assessing the extent of inflationary pressures, the trajectory of economic improvement, and May 28, 2026

NH Nonghyup Life Files Patent for AI Insurance Enrollment System NH Nonghyup Life has applied for a patent for a system that automates insurance enrollment design using artificial intelligence (AI). This initiative aims to enhance operational efficiency in the agricultural and cooperative sales sectors by enabling AI to analyze complex insurance product structures and policy conditions to support customized designs for customers.On May 28, NH Nonghyup Life announced that it has simultaneously filed for both technology and business model patents for its 'AI En May 28, 2026

NH Nonghyup Life Files Patent for AI Insurance Enrollment System NH Nonghyup Life has filed a patent for a system that automates the insurance enrollment design process using artificial intelligence (AI). This initiative aims to enhance operational efficiency in the agricultural and cooperative sales sectors by allowing AI to analyze complex insurance product structures and conditions to support customized designs for customers.On May 28, NH Nonghyup Life announced that it has simultaneously filed for both technology and business model patents for its 'AI Enr May 28, 2026

PFCT Surpasses 10 Billion Won in Refinancing Loans for Low-to-Medium Credit Borrowers Refinancing loans are emerging as a practical tool to significantly reduce the financial burden on low-to-medium credit borrowers, moving beyond simple interest rate switching. PFCT (PFCT Technologies), an online investment-linked financial company, announced on May 28 that the cumulative amount of its personal credit loan refinancing service, offered through its platform 'Kreple', has surpassed 10 billion won (approximately $7.5 million). Since launching the personal credit loan refi May 28, 2026

Lotte Reports 181% Increase in Q1 Operating Profit Amid Business Restructuring Lotte Holdings held an investor relations (IR) meeting to discuss its improved first-quarter performance and portfolio restructuring strategy. The company aims to enhance profitability in its core businesses while strengthening financial stability through the sale of non-core assets and the optimization of low-profit operations.On May 28, Lotte Holdings announced that over 30 analysts and institutional investors attended the IR meeting held on May 27. Key executives from Lotte Holdings, includin May 28, 2026

Samyang Group Holds 35th Sudang Award Ceremony, Honors Professors Hwang Il-doo and Cho Sung-bae Samyang Group's Sudang Foundation held the 35th Sudang Award ceremony on May 27 at the Lotte Hotel in Seoul, honoring Hwang Il-doo, a professor at Pohang University of Science and Technology, and Cho Sung-bae, a professor at Yonsei University, each with a plaque and a cash prize of 200 million won. Hwang, the recipient in the basic science category, was recognized for his research on the signaling pathways of plant development and the evolutionary principles of vascular bundles. He was pa May 28, 2026

Korea's Fair Trade Commission Calls for End to Retention Practices in Construction Industry Joo Byeong-gi, chairman of the Fair Trade Commission, stated on May 28 that the revised subcontracting law focuses on significantly enhancing payment stability for small subcontractors to ensure they receive fair compensation for their work. He expressed hope for a healthier relationship that fosters mutual growth by correcting unfair clauses that shift costs, such as industrial safety expenses, onto subcontractors. Joo made these remarks during a signing ceremony for a cooperation and fai May 28, 2026

Korean Banks Complete Verification of International Payment Project Agora South Korean banks are accelerating the verification of next-generation international payment infrastructure. KB Kookmin, Shinhan, Woori, and NH NongHyup Bank announced on May 28 that they have completed the prototype verification for the 'Project Agora,' led by the Bank for International Settlements (BIS) and the Institute of International Finance (IIF). The Agora Project is a public-private partnership aimed at verifying whether central bank digital currencies (CBDCs) and deposit tokens can fa May 28, 2026

Korean Banks Complete Verification of International Payment Project Agora Domestic banks are accelerating the verification of next-generation international payment infrastructure.KB Kookmin, Shinhan, Woori, and NH NongHyup Bank announced on May 28 that they have completed the prototype verification for the 'Project Agora,' led by the Bank for International Settlements (BIS) and the Institute of International Finance (IIF).The Agora Project is a public-private partnership aimed at verifying the feasibility of efficient cross-border payments using central bank digital c May 28, 2026