HJ Heavy Industries Reports 347% Increase in Q1 Operating Profit HJ Heavy Industries is accelerating its profitable management, driven by strong orders for high-value ships and defense contracts. The company's operating profit in the first quarter surged over 300% compared to the same period last year. On May 18, HJ Heavy Industries announced that it recorded consolidated sales of 541.4 billion won, an operating profit of 24.6 billion won, and a net income of 25.5 billion won for the first quarter. Sales increased by 32.0% from 410 billion won in the sa May 18, 2026

Government Seeks Public Ideas to Reduce Living Costs, Invites AI Policy Proposals The government is launching an initiative to gather public ideas aimed at reducing living costs. Focusing on areas with significant household expenses, such as housing, transportation, and communication, the initiative will also explore policies that utilize artificial intelligence (AI) technology. On May 18, the Ministry of Finance and Economy announced the "2026 Cost of Living Reduction Policy Idea Contest," which will run until July 27. The contest aims to alleviate the financial bur May 18, 2026

Gaon Cable Signs $3 Billion Supply Deal for Busducts with U.S. Tech Firms Gaon Cable, a subsidiary of LS Cable, has secured a supply contract worth approximately 4 trillion won ($3 billion) for busducts to be used in artificial intelligence (AI) data centers in the United States. This marks the largest supply agreement in the domestic cable and electrical equipment industry to date. On May 18, Gaon Cable announced that its U.S. subsidiary, LSCUS, has entered into a long-term supply contract with a major American company for high-capacity power systems, specifi May 18, 2026

Hyundai Motor Group to Establish Hydrogen Ecosystem in Hong Kong, Expanding to Asia-Pacific Market Hyundai Motor Group is set to establish a comprehensive hydrogen value chain in Hong Kong, encompassing hydrogen production, refueling, and utilization. On May 18, the company announced the signing of a multilateral memorandum of understanding (MOU) at the Hong Kong Convention Center during the 'International Hydrogen Development Symposium 2026' to create a hydrogen ecosystem in the region. The MOU aims to build a 'resource-circulating hydrogen production model (W2H)' facility utilizing landfill May 18, 2026

Amorepacific CEO: K-Beauty is a New Standard, Not Just a Trend Kim Seung-hwan, CEO of Amorepacific, stated that "K-Beauty is no longer a temporary trend but has established itself as a new standard in the global skincare market." According to Amorepacific, Kim made this remark while presenting strategies for the competitiveness and sustainable growth of the Korean beauty industry at the '2026 WWD Beauty CEO Summit' held in Palm Beach, Florida, from May 11 to 13. WWD, a fashion and beauty media outlet founded in 1910, hosts this prestigious CEO forum May 18, 2026

Asian Constitutional Experts Gather in Seoul to Discuss Future of Constitutional Jurisprudence Constitutional experts from across Asia are convening in Seoul to share insights on constitutional values and judicial experiences in response to rapidly changing societal dynamics. On May 18, the Asian Constitutional Court Union (AACC) announced that it is hosting the "5th International Conference of Researchers" from today until May 21. The conference, themed "Recent Trends and Issues in Constitutional Law," aims to reflect on the constitutional journeys of various countries amid the May 18, 2026

Kolmar Group Reaffirms Commitment to Compliance Management on 36th Anniversary Starting with just four employees, Kolmar Group has reached the status of a large business group after 36 years, reaffirming its commitment to compliance management on its anniversary. The event served as a reminder for all employees of the increased social responsibilities that come with the company's growth. According to Kolmar Group, Kolmar Holdings and Korea Kolmar held their '4th Compliance Day' events on May 14 at the Korea Kolmar Comprehensive Technology Center in Seocho-gu, Se May 18, 2026

Lotte Home Shopping Launches First Dedicated App for ChatGPT Shopping Lotte Home Shopping has launched the first dedicated shopping application within the generative AI platform ChatGPT, allowing users to search and purchase products in one seamless experience. The company has accelerated its transition to AI commerce by introducing a virtual human host named 'Lucy' and an in-house AI chatbot called 'Belly Gunggeumi.' This new app leverages the convenience of conversational AI. On May 18, Lotte Home Shopping announced the release of its dedicated app th May 18, 2026

Netanyahu: Mission to Eliminate Key Hamas Planners Nearly Complete Israeli Prime Minister Benjamin Netanyahu announced that the mission to eliminate the key planners behind Hamas's surprise attack on October 7, 2023, which resulted in over 1,200 deaths, is nearing completion. His remarks followed an Israeli military announcement that a Hamas military commander had been killed in airstrikes in the Gaza Strip. On May 17, during a weekly cabinet meeting, Netanyahu stated, "I promise to eliminate those who designed the massacre and hostage-taking, and we are May 18, 2026

Woori Financial Launches Loan Program for Low-Credit Borrowers with Maximum Rate of 7% Woori Financial Group announced on May 18 that it will launch a dedicated refinancing loan product for low-credit customers by the end of this month, allowing them to switch to loans with lower interest rates.The announcement came during the 'May Advanced Strategic Industry Finance Council' held on May 15 at the group's headquarters in Jung-gu, Seoul, chaired by Chairman Im Jong-ryong. The council discussed the implementation tasks and achievements of inclusive finance.Since establishing product May 18, 2026