HD Hyundai Partners with TerraPower to Target Next-Generation Nuclear Market Jung Ki-sun, chairman of HD Hyundai, is accelerating efforts to target the global market for next-generation small modular reactors (SMRs) as a key growth area. The company is expanding its business portfolio, traditionally focused on shipbuilding and marine industries, into the nuclear equipment sector to strengthen its energy value chain. On May 21, HD Hyundai announced that its shipbuilding subsidiary, HD Hyundai Heavy Industries, has signed a basic agreement with TerraPower for the sup May 21, 2026

U.S. and Israel Planned to Install Ahmadinejad as Iran's Leader The New York Times reported on May 19 that the United States and Israel devised a plan to remove Iran's Supreme Leader Ayatollah Ali Khamenei and install former President Mahmoud Ahmadinejad, who had been under house arrest, as a leader in the early stages of the war. However, attempts to engage with Ahmadinejad, who had previously vowed to erase Israel from the map, ended in failure. According to the newspaper, the U.S. and Israel considered Ahmadinejad a "pragmatist" who could lead Iran May 21, 2026

Government to Revise Apartment Management Fees to Combat Corruption The South Korean government is set to revise its apartment management system to reduce corruption and opaque contracting practices in the execution of management fees. The Ministry of Land, Infrastructure and Transport announced that it will eliminate the exception that allowed properties to forgo external accounting audits with resident consent and will also limit the use of direct contracts. According to a report presented to the Special Task Force on Living Costs on May 21, the average May 21, 2026

Eastar Jet Partners with Silla University to Train Aviation Maintenance Personnel Eastar Jet is taking the lead in training talent for aviation maintenance, repair, and overhaul (MRO).On May 21, Eastar Jet announced that it has signed a strategic memorandum of understanding (MOU) with the Aviation Maintenance Department at Silla University to foster talent in aviation MRO.The agreement aims to systematically develop aviation maintenance personnel and establish a foundation for early and stable workforce recruitment.The two parties will collaborate in various areas, including May 21, 2026

Trump Declares Cuba a 'Rogue State' Amid Increased Pressure On May 20, coinciding with Cuba's Independence Day, President Donald Trump labeled the Havana regime a "rogue state." He issued a warning against allowing hostile foreign military, intelligence, and terrorist activities just 90 miles from U.S. shores. In a message commemorating the holiday, Trump stated, "The United States will not tolerate a rogue state that allows hostile foreign military, intelligence, and terrorist operations just 90 miles from our homeland." He added, "We will not rest May 21, 2026

Nvidia's Strong Performance and Eased Samsung Strike Risks May Boost KOSPI U.S. stock markets rebounded overnight, buoyed by stabilizing Treasury yields and renewed optimism surrounding artificial intelligence (AI). This raises the possibility of a similar recovery in the domestic market. The positive performance of Nvidia and reduced strike risks at Samsung Electronics are also expected to enhance investor sentiment in semiconductor stocks. According to the financial investment industry, on May 20 (local time), the Dow Jones Industrial Average rose by 645.47 po May 21, 2026

Korea to Announce Sixth Oil Price Cap Amid Inflation Concerns Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol announced that the government will reveal the sixth oil price cap at 7 p.m. on May 21, in response to inflation concerns stemming from the prolonged conflict in the Middle East. He also stated that the government will immediately begin revising the enforcement decree of the Price Stabilization Act. During the ninth meeting of the Special Task Force on Price Management held at the Government Seoul Building, Koo noted, May 21, 2026

Korea to Provide $60 Million Financial Aid to Middle Eastern Countries Amid Ongoing Conflict Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol announced plans to provide a total of $60 million in financial aid to Middle Eastern countries facing liquidity challenges due to the prolonged conflict in the region. He stated that the government will respond calmly and consistently to the U.S. Section 301 investigation into trade practices. During the 268th Foreign Economic Ministers' Meeting held at the Government Seoul Building on May 21, Koo noted, "The uncertai May 21, 2026

Iran Establishes 'Controlled Area' in Strait of Hormuz, Requires Pre-Approval for All Vessels The Iranian government has announced the establishment of a 'controlled area' in the Strait of Hormuz, managed by the newly formed Persian Gulf Strait Authority (PGSA). On May 20, the PGSA stated via social media platform X (formerly Twitter) that the eastern boundary of the controlled area will be defined by a straight line connecting Iran's Kuhe Mobarak and Fujairah in the southern United Arab Emirates (UAE). The western boundary will connect the tip of Iran's Qeshm Island to Umm al-Qu May 21, 2026

Samsung Electronics Raises Salary Cap and Agrees to 6.2% Wage Increase Samsung Electronics has reached a tentative agreement on its wage negotiations for 2026, raising the salary cap for managerial positions to 130 million won and increasing the first child birth support payment to 1 million won. According to industry sources on May 21, Samsung's labor and management agreed on a wage increase rate of 6.2% in the previous day's negotiations. This includes a base increase of 4.1% and a performance-based increase of 2.1%. The salary cap for managerial positio May 21, 2026