Time Reports Xi Jinping May Visit North Korea Next Week Amid Rising Japanese Militarism Chinese President Xi Jinping is expected to make a state visit to North Korea as early as next week. U.S. news magazine Time reported on May 20, citing anonymous sources, that "China and North Korea will cooperate more closely against Japan's new militarism," adding that plans for Xi's visit are underway. Time interpreted Xi's potential visit as a response to Japan's shift from its long-standing pacifist stance to a more proactive geopolitical posture. Recently, Japan has significan May 20, 2026

South Korean Oil Tanker Passes Through Strait of Hormuz Amid Tensions One of the 26 South Korean vessels stranded in the Strait of Hormuz due to the U.S.-Iran conflict has successfully navigated through the strait for the first time. The Ministry of Foreign Affairs announced on May 20 that "one of our oil tankers has passed through the Strait of Hormuz today and is continuing its voyage," adding that approximately 10 South Korean crew members are aboard the vessel.Since the outbreak of the conflict, the South Korean government has made repeated requests for the sa May 20, 2026

AI Insights: Redbrick's Yang Young-mo on the Importance of Operations in AI Implementation "The competitive standard for corporate AI is no longer which model to use, but how safely and consistently it can be operated in actual work environments," said Yang Young-mo, CEO of Redbrick. He explained that the early phase of generative AI focused on the performance of large language models (LLMs), but the emphasis has now shifted to the operational structure, which includes internal data, permissions, and security systems as key components of AI competitiveness. Yang noted, "Initial May 20, 2026

Fixed Mortgage Rates Surpass 7% Again, Raising Concerns for Borrowers Fixed mortgage rates have once again surpassed 7%, raising concerns among borrowers as expectations grow for continued increases in bank loan rates. As of May 19, the fixed mortgage rates at five major banks—KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup—are reported to range from 4.47% to 7.07%. The upper limit of mortgage rates reached 7% just a month after the outbreak of conflict between the U.S. and Iran, but fell to between 4.15% and 6.75% by mid-April as tensions eased. However, persis May 19, 2026

Lotte Celebrates 10th Anniversary of 'Mom-Friendly' Festival, Donates 500 Million Won to Combat Low Birth Rates Lotte Group is taking steps to address the low birth rate issue and improve child care environments.The company announced that it is hosting the 'Lotte Mom-Friendly Festival' from May 19 to 21 at Seoul City Hall's lawn in collaboration with the Green Umbrella Children's Foundation and the Community Chest of Korea.This event marks the 10th anniversary of Lotte Group's flagship social contribution initiative, 'Mom-Friendly.' It is designed as a festival where citizens can actively participate and May 19, 2026

Trump Administration Considers Military Options Against Cuba The Trump administration is escalating pressure on Cuba to include military options. With the Cuban government remaining defiant despite sanctions and fuel restrictions, the U.S. is considering everything from airstrikes to ground invasions. On May 18, Politico reported that U.S. officials and sources familiar with administration discussions indicated that President Trump and his advisors are feeling limited by their current strategy against Cuba. The Cuban leadership has not accepted the e May 19, 2026

KOSPI Plummets Over 3% as Foreign Investors Sell Off 6 Trillion Won The KOSPI index fell more than 3%, dropping below the 7,300 mark due to a massive sell-off by foreign investors. The KOSDAQ also declined by over 2%. This downturn is attributed to concerns over prolonged high interest rates in the U.S. and uncertainties in the semiconductor market, coupled with profit-taking following recent gains. On May 19, the Korea Exchange reported that the KOSPI closed at 7,271.66, down 244.38 points (3.25%) from the previous trading day. The index opened at 7,425. May 19, 2026

Woori Bank Cuts Mortgage Rates by Up to 0.8% Amid Rising Interest Rates As mortgage rates continue to rise, with the upper limit surpassing 7% annually, Woori Bank has announced additional rate cuts. According to the financial sector on May 19, Woori Bank has reduced the interest rates on its five-year fixed-rate mortgage and variable-rate products by 0.8 percentage points and 0.3 percentage points, respectively, starting today. The bank is increasing preferential rates to lower the final loan rates. As a result, from today, the five-year fixed-rate mortgage will of May 19, 2026

Han Dong-hoon Discusses Possibility of Unification in Election Campaign Han Dong-hoon, an independent candidate in the Busan North Gap by-election, stated on May 19 that public sentiment is guiding the potential for unification with Park Min-sik, the candidate from the People Power Party. He also claimed that if the Democratic Party candidate wins, President Lee Jae-myung will push for the cancellation of his indictment.During a press conference at his campaign office in the Hanjin Building in Busan, Han said, "Public sentiment is already showing how votes should be May 19, 2026

Dispute Over Missing Rebar at Samsung Station Spurs Audit by Ministry of Land The Ministry of Land, Infrastructure and Transport has launched an audit of Seoul City and the Korea Railroad Corporation (KRC) following a significant incident of missing rebar in the GTX-A line at Samsung Station. The situation escalated into a dispute over accountability after it was revealed that there was a lack of official communication among relevant agencies for about six months after the rebar deficiency was confirmed, raising concerns about the overall project management system b May 19, 2026