South Korea and EU Hold Supply Chain Policy Dialogue Amid Global Instability The South Korean government is resuming supply chain policy discussions with the European Union (EU) for the first time in over two years. This initiative comes as geopolitical tensions in the Middle East have heightened supply chain vulnerabilities. On May 21, the Ministry of Trade, Industry and Energy held the "2nd Korea-EU Supply Chain Policy Dialogue" in Seoul with the EU's Directorate-General for Growth. South Korea was represented by Deputy Minister Moon Shin-hak, while the EU delegat May 21, 2026

Hana Financial Group Launches Consumer Protection Committee Hana Financial Group has established a Consumer Protection Committee, marking the launch of a comprehensive consumer protection system at the group level. All major affiliates, including Hana Bank, will participate in the initiative to proactively address consumer inconveniences and risks associated with financial product sales.On May 21, Hana Financial announced that it is the first financial holding company in South Korea to convene a Consumer Protection Committee within its board of directors May 21, 2026

Trump Envoy Says U.S. Needs to Expand Influence in Greenland Donald Trump’s envoy to Greenland, Jeff Landry, the governor of Louisiana, emphasized the need for the United States to expand its influence in Greenland during a recent visit. In an interview with AFP on May 20, Landry stated, "Greenland needs the United States," adding, "I believe it is time for the U.S. to leave its footprint in Greenland again." He noted that he is aware the president has mentioned expanding national security operations in Greenland and redeploying personnel to cer May 21, 2026

Alibaba Unveils In-House AI Chip 'Zhenwu M890' to Reduce Dependence on Nvidia Alibaba has unveiled its in-house artificial intelligence (AI) chip, the 'Zhenwu (젠우) M890,' as part of a strategy to reduce reliance on foreign high-performance AI semiconductors like those from Nvidia amid ongoing U.S. export restrictions on advanced semiconductors to China. On May 20, during the Alibaba Cloud Summit held in Hangzhou, the company showcased the next-generation AI chip, which was developed by its semiconductor design subsidiary, T-Head. According to the company, the perfo May 21, 2026

Toss Introduces FacePay at Major Rest Areas in Partnership with Pulmuone Food & Culture Toss announced on May 21 that it will introduce its facial recognition payment service, FacePay, at over 20 major rest areas across the country in partnership with Pulmuone Food & Culture. This marks the first implementation of FacePay at rest areas in South Korea. The two companies signed a memorandum of understanding (MOU) on May 20 at Toss headquarters in Yeoksam-dong, Gangnam, Seoul. Key executives from both companies, including Toss Vice President Oh Gyu-in and Pulmuone Food & Cul May 21, 2026

Samsung Electronics Shares Surge After Labor Agreement Samsung Electronics' stock has risen more than 6%. This surge follows a tentative wage agreement reached between management and labor unions, alleviating fears of a total strike and boosting investor sentiment. According to the Korea Exchange, as of 10:29 a.m. on May 20, Samsung's shares were trading at 293,000 won, up 6.16% from the previous day. During pre-market trading, the stock even touched 300,000 won. The sharp increase in Samsung's stock price is attributed to the tentative wage May 21, 2026

North Korea's 'My Hometown Women's Football Team' Advances to Finals North Korean state media reported that the 'My Hometown Women's Football Team' has advanced to the finals after a match held in South Korea. The Korean Central News Agency announced on May 21 that the team won 2-1 against Suwon FC Women in the semifinals of the 2025-26 Asian Football Confederation (AFC) Women's Champions League (AWCL) held the previous day. This marks the first time in nearly eight years that North Korean athletes have participated in a sports event in South Korea, with May 21, 2026

Cultural Sensitivity Lacking in Recent Controversies from Starbucks to Dramas While the public is sensitive to historical issues, the business sector often remains indifferent. A recent series of incidents in the cultural and retail industries highlighted a significant lack of historical sensitivity. The backlash from exploiting painful modern history and tradition for profit has been severe. The most egregious misstep occurred in the retail sector. On May 18, marking the 46th anniversary of the Gwangju Democracy Movement, Starbucks Korea named a tumbler discount e May 21, 2026

2026 Local Elections: AI and Deepfakes Transforming Democracy The 2026 local elections indicate that South Korean politics is on the brink of an "AI election" era. In the past, campaigns were conducted through rallies, market visits, TV debates, and newspaper editorials. Candidates appealed for support in person, while voters made judgments based on print and broadcast media. Democracy moved slowly, but at least it operated within a shared reality where it was generally possible to verify who said what, which scenes were real, and what constituted the trut May 21, 2026

MakinaRax Continues Strong Performance with Upper Limit Gains on Second Day of Trading MakinaRax has maintained its upward momentum, recording upper limit gains on its second day of trading on the KOSDAQ. According to the Korea Exchange, as of 10:13 a.m. on May 21, MakinaRax shares were trading at 78,000 won, up 18,000 won (30.00%) from the previous trading day. The stock opened at 78,000 won, briefly dipped to 77,700 won during the session, but quickly recovered to the upper limit level. On its debut day, MakinaRax entered the KOSDAQ market at a closing price of 60,000 May 21, 2026