Iran's Internet Shutdown Hits Economy, Leaving Over 1 Million Jobless The ongoing internet shutdown in Iran, now in its third month, is exacerbating the country's already strained economy, which has been affected by war and sanctions. More than 1 million people have lost their jobs as online sales, international transactions, and remote work have come to a standstill. According to the Wall Street Journal on May 20, Iran's internet connectivity has remained at just 1-2% of its total capacity in recent weeks, a stark decline from 90-100% before anti-government May 21, 2026

Kim Boo-kyum Aims to Transform Daegu into Southern Korea's Tech Hub Kim Boo-kyum, the Democratic Party's candidate for mayor of Daegu, stated that to revive the city's economy, a fundamental change in its industrial structure is necessary. He plans to integrate artificial intelligence (AI) into Daegu's traditional manufacturing sectors, including machinery, metals, automotive parts, and textiles, while positioning AI robotics, future mobility, healthcare, and quantum technology as new growth engines. In an interview with Aju Economy, Kim described his top campai May 21, 2026

Foreign Shoppers Boost South Korea's Duty-Free Sales in Q1 After a prolonged slump, South Korea's duty-free industry is showing signs of recovery this year. The shift away from the costly daigong (Chinese personal shoppers) model to a focus on foreign high-spenders through K-content and experiential strategies is credited for this turnaround. The second quarter is expected to see continued growth, bolstered by the influx of foreign visitors during China's Labor Day and Japan's Golden Week holidays. According to the Korea Duty Free Associa May 21, 2026

LG Electronics Shares Surge Amid Optimism for AI and Robotics LG Electronics saw its shares hit the daily limit increase as investor optimism grew around its new robotics and artificial intelligence (AI) ventures. The company’s shift away from a traditional home appliance focus has renewed expectations for growth, significantly improving investor sentiment. On May 21, the Korea Exchange reported that LG Electronics' stock closed at 235,000 won, up 54,000 won (29.83%) from the previous trading day. The surge in buying interest is attributed to expec May 21, 2026

Labor Minister Discusses People-Centered AI Transition with ILO Chief Labor Minister Kim Young-hoon stated on May 21 that as the world faces significant changes due to artificial intelligence (AI) and digital transformation, a "people-centered AI transition" is more important than ever. He emphasized the need to create a model that harmonizes technological innovation with labor rights protection in collaboration with the International Labor Organization (ILO). During a meeting with ILO Director-General Gilbert Houngbo, who is visiting South Korea, the two d May 21, 2026

Jin Air Introduces Simulator for Aircraft Fire Response Training Jin Air has completed the introduction of a simulator aimed at enhancing flight safety in preparation for the Airbus aircraft. The A320neo simulator is a training device that allows pilots to conduct simulated flights in an environment identical to the aircraft cockpit. It provides a realistic training environment through precise movements and high-resolution 4K projectors. The simulator can replicate extreme situations where visibility is compromised, including takeoffs, adverse weather c May 21, 2026

CJ CheilJedang Promotes K-Food at PGA's The CJ Cup CJ CheilJedang is set to promote K-Food and Korean culinary culture at the PGA Tour's The CJ Cup Byron Nelson, taking place from May 20 to 24 at TPC Craig Ranch in McKinney, Texas. The company announced on May 21 that it will operate a Bibigo brand experience space and food booths at the event. This year’s event features an expanded scale and enhanced interactive content. Attendees will find the "House of CJ" and two Bibigo concessions throughout the course. The "House of CJ" will be a l May 21, 2026

Japan Faces Supply Chain Concerns Amid Rising Naphta Procurement Issues Concerns over naphta procurement, triggered by escalating tensions in the Middle East, are spreading beyond Japan's industrial sectors into the political arena. While the Japanese government asserts that "overall supplies are sufficient" to mitigate these concerns, industries are preparing for potential disruptions and price increases in packaging materials, printing inks, paints, and housing equipment. On May 20, a parliamentary debate took place where Prime Minister Sanae Takaiichi clas May 21, 2026

Labor Minister Kim Young-hoon: Negotiations Require Compromise "Negotiations are harder than strikes. Both sides made concessions." On May 21, Labor Minister Kim Young-hoon appeared on the YouTube program "Choi Wook's Maebul Show" and stated, "I believed that making public moves could create resistance, so I continued to persuade and coordinate behind the scenes." Minister Kim personally mediated the final negotiations between Samsung Electronics and its labor union the previous day at the Gyeonggi Regional Employment and Labor Office. The two sides May 21, 2026

Pakistani Officials Continue Visits to Tehran as Prime Minister Sharif Heads to China Pakistani officials are making a series of visits to Tehran. Prime Minister Shehbaz Sharif is scheduled to visit China from May 23 to 26. As U.S.-Iran ceasefire negotiations remain stalled, Pakistan's diplomatic efforts are expanding towards Tehran and Beijing. According to the Pakistani daily Dawn on May 21, Interior Minister Mohsin Naqvi traveled to Tehran to deliver an 'important message' to Iranian leaders. This marks Naqvi's second visit to Tehran in less than a week. Dawn reported th May 21, 2026