KOSPI opens lower as end-of-chip-rally fears hammer tech shares SEOUL, May 19 (AJP) - South Korean stocks opened lower Tuesday as growing concerns of a peak in the global memory-chip cycle triggered an overnight selloff in U.S. technology shares, dragging down semiconductor and artificial intelligence (AI)-related stocks. The benchmark KOSPI fell 2.47 percent to 7,330.44 about an hour into trading, while the junior KOSDAQ dropped 1.69 percent to 1,092.34. The South Korean won was largely unchanged at 1,500.10 per dollar, from 1,500.30 in the prior session. Technology heavyweights led the decline, with Samsung Electronics falling 2.49 percent to 274,000 won and SK hynix slipping 1.85 percent to 1.81 million won. Automakers and industrial shares also weakened sharply. Hyundai Motor plunged 6.64 percent to 619,000 won, Kia fell 3.75 percent to 156,400 won and Samsung C&T dropped 5.76 percent to 376,500 won. Samsung Electro-Mechanics declined 3.78 percent and Doosan Enerbility fell 3.21 percent. Defense and financial shares, however, outperformed the broader market. Hanwha Aerospace surged 7.74 percent to 1,322,000 won, HD Hyundai Heavy Industries rose 0.81 percent and Samsung Life Insurance gained 1.44 percent. KB Financial Group edged up 0.46 percent. The losses followed a volatile overnight session on Wall Street, where early gains faded and stocks finished mixed as geopolitical uncertainty and weakness in semiconductor shares weighed on investor sentiment. Stocks initially rose on indications that the U.S. could temporarily ease sanctions on Iranian oil exports and extend exemptions for Russian crude, raising hopes of improved global energy supply and lower oil prices. However, sentiment later reversed after the White House dismissed Iran's latest ceasefire proposal as largely symbolic and lacking meaningful concessions, while U.S. President Donald Trump delayed a planned military strike on Iran but warned that military action could still come at any time, reviving concerns over prolonged tensions in the Middle East. Semiconductor stocks came under additional pressure after Seagate Technology’s chief executive warned about capacity constraints in the memory-chip industry and the risk of overinvestment across the sector, fueling renewed concerns that the chip cycle may be nearing a peak. The Philadelphia Semiconductor Index fell 2.47 percent, with Micron plunging 5.95 percent and Nvidia and Sandisk also ending sharply lower. The Dow Jones Industrial Average rose 0.32 percent, while the S&P 500 and Nasdaq Composite fell 0.07 percent and 0.51 percent, respectively. Oil prices remained elevated amid persistent supply concerns. West Texas Intermediate crude traded above $106 a barrel, while Brent crude hovered near $109. The U.S. dollar index stayed in the upper 98 range. U.S. Treasury yields fluctuated during the session before ending lower, though they remained elevated as investors reassessed the outlook for inflation and interest rates. The two-year Treasury yield stood at 4.05 percent, while the benchmark 10-year yield traded at 4.58 percent. The 30-year yield remained above 5 percent at 5.13 percent. Elsewhere in Asia, Japan's Nikkei 225 fell 0.21 percent to 60,689.71, while Hong Kong's Hang Seng Index rose 0.53 percent to 25,811.11 and China's Shanghai Composite Index gained 0.13 percent to 4,136.76. 2026-05-19 10:46:43

Samsung E&A and K-water Sign MOU to Expand Water Business Samsung E&A is accelerating its expansion into the water business in collaboration with K-water. On May 18, Samsung E&A announced that it signed a memorandum of understanding (MOU) with K-water to expand their water business. The signing ceremony took place at K-water's Han River Headquarters in Gwacheon, attended by top executives from both companies, including Hong Nam-goo, President of Samsung E&A, and Yoon Seok-dae, President of K-water. This agreement aims to combine the core competencies of both companies to seize substantial business opportunities in the domestic and international water markets. The two firms plan to develop optimal business models that integrate Samsung E&A's technology with K-water's operational expertise, marking the beginning of joint development on previously discussed water-related projects. Following the MOU, the companies plan to pursue several initiatives, including: leveraging each company's technological capabilities and networks for water-related project development and information sharing; developing and jointly operating domestic water treatment and reuse projects; and identifying opportunities for overseas water business development, commercialization, and joint operations. They will also establish a 'regular consultation body' to coordinate the direction of ongoing domestic and international water business initiatives and to strengthen their efforts in discovering new global projects. Hong Nam-goo, President of Samsung E&A, stated, "Collaboration with K-water, which possesses world-class operational management expertise, will be the most ideal model for entering the water business. We will successfully complete the upcoming joint projects and fully engage in the global water market." Meanwhile, Samsung E&A is expanding its water-related business as part of its environmentally friendly future growth strategy, accelerating its entry into the global water treatment market. The company has been involved in advanced water treatment projects for semiconductor and chemical plants, focusing on industrial water purification and zero-discharge system implementation. Recently, it has actively participated in large-scale seawater desalination projects and water treatment plant bids in the Middle East, including the United Arab Emirates. Additionally, it is broadening its business scope into areas such as wastewater reuse and environmentally friendly water treatment utilizing biogas, enhancing its high-value environmental projects in line with the carbon-neutral era.* This article has been translated by AI. 2026-05-19 10:45:00

President Yoon Gifts Traditional Korean Artifacts to Japanese Prime Minister On May 19, President Yoon Suk Yeol prepared a selection of gifts reflecting the local culture for Japanese Prime Minister Sanae Takaichi, who is visiting his hometown of Andong, North Gyeongsang Province.President Yoon is scheduled to hold a summit with Prime Minister Takaichi in Andong later in the afternoon.According to the presidential office, the gifts include a wooden frame featuring nine types of Hahoe masks, which symbolize harmony and express hopes for the development of friendly relations between Korea and Japan.Also included in the gift list are a leather bag made from hanji (traditional Korean paper) and red ginseng, inspired by items that were significant during the Joseon Tongsinsa (Korean envoys to Japan).Additionally, a moon jar frame, representing a symbol of hope in both countries, conveys wishes for friendship and cooperation between Korea and Japan.For the Prime Minister's spouse, a set of traditional Joseon Tongsinsa items will be presented along with a 'snowflake pottery' set. The snowflake pottery features patterns created using zinc glaze and silver, capturing the winter scenery of Fukui Prefecture, the hometown of the Prime Minister's spouse.Furthermore, the Andong Poji Village Preservation Association prepared a single blanket made from Andong po, historically presented to the royal family, wishing for the health and peace of Prime Minister Takaichi.The Andong Hahoe Village clan association also prepared a mini guardian totem set, symbolizing protection from evil spirits and disease, reflecting the roles of the leaders of both countries.* This article has been translated by AI. 2026-05-19 10:42:28

MC Mong Accuses Kim Ho-jung's Former Agency Head of Gambling While Artist Serves Time Singer and producer MC Mong has raised allegations of gambling against the former head of Kim Ho-jung's agency. On May 18, MC Mong conducted a live broadcast on his personal social media account, where he addressed illegal gambling allegations surrounding himself. During the broadcast, he claimed that MBC's 'PD Notebook' had requested his stance on the alleged illegal use of company funds for gambling and the destination of advance payments, which he denied. MC Mong asserted that those accusing him of being a 'gambler' were themselves involved in gambling. He mentioned the existence of a gambling group, naming figures such as Kim Min-jong and the former head of Kim Ho-jung's agency. He specifically claimed, "While his artist is in prison, the former agency head went to Vegas last December and reportedly visits Macau monthly to gamble 5 billion won and plays $500,000 in the U.S." In response, Kim Min-jong's legal representative, the law firm Oh Kim's, stated, "The information circulating online regarding Kim Min-jong is clearly false. He is determined to confront these allegations head-on without any compromises to prove his integrity," indicating potential legal action. The attention surrounding these allegations is heightened due to Kim Ho-jung's current situation. He was arrested and indicted for a DUI hit-and-run incident that occurred in May 2024, where he crashed into a taxi after drinking and fled the scene, instructing his manager to falsely confess. Both the first and second trials found him guilty, sentencing him to 2 years and 6 months in prison. He is expected to be released in November. Following the Kim Ho-jung incident, his agency, Think Entertainment, suffered significant damage. The company announced it would cease its management operations and has since rebranded as Art MNC, diversifying its business activities.* This article has been translated by AI. 2026-05-19 10:39:54

ChatGPT Ranked as Most Used AI App in South Korea in April, with Higher Female User Base Last month, ChatGPT emerged as the most widely used generative AI app among South Koreans, followed by Gemini and Claude. According to data from WiseApp and Retail, a market and competitor analysis solution based on real-time app and payment data, ChatGPT recorded 23.45 million monthly active users (MAU) in April. Gemini had 8.45 million users, while Claude reached 2.41 million. Among these, Claude experienced the most significant growth compared to the same month last year, with a user growth rate of 1148%. Gemini followed with a 1034% increase, and ChatGPT saw a 34% rise. A comparison of the gender distribution among the three apps revealed that ChatGPT had a higher proportion of female users. In contrast, Gemini and Claude had a higher percentage of male users, with Claude having the highest male user ratio at 62.1%. In terms of age demographics, ChatGPT was most popular among users in their 40s, while Gemini and Claude attracted a larger share of users in their 20s. ChatGPT is a generative AI chatbot service developed by OpenAI, launched on November 30, 2022. Claude is a large language model (LLM) developed by Anthropic, and Gemini is Google's LLM, both of which were released in March 2023.* This article has been translated by AI. 2026-05-19 10:37:29

Jang Dong-hyuk Visits Yang Hyang-ja During Hunger Strike, Criticizes Democratic Party Jang Dong-hyuk, the representative of the People Power Party, criticized the Democratic Party on May 19, stating, "It is always the Democratic Party that passes bad laws and creates problems, and when issues arise, the People Power Party is left to resolve them." Jang made these remarks while visiting Yang Hyang-ja, a candidate for Gyeonggi governor, who has been on a hunger strike since the previous evening in front of Samsung Electronics' Pyeongtaek campus, urging for a major agreement between the company and its labor union. After speaking with Yang for about ten minutes, Jang emphasized, "Semiconductors are the future of South Korea. The Democratic Party irresponsibly passed the Yellow Envelope Law and is now doing nothing but standing by with their arms crossed." He also pointed out that "the president is only making general statements without taking any action." Jang urged President Lee Jae-myung and the Democratic Party to quickly address the problems arising from the Yellow Envelope Law they enacted. The Yellow Envelope Law, which refers to Articles 2 and 3 of the amended Trade Union Act, limits companies' ability to claim damages for union activities and guarantees the negotiation rights of subcontracted workers. The People Power Party believes that the law has influenced the Samsung Electronics union's decision to proceed with a strike that could result in economic losses of up to 100 trillion won. In response, Yang began her hunger strike the previous evening, emphasizing the urgency of the situation, as a strike by the Samsung Electronics union could impact not only semiconductor production but also the entire supply chain, including partner companies. Yang told Jang during his visit, "If the production line is disrupted, it could shake global trust and South Korea's semiconductor competitiveness. I am on this hunger strike with a desperate resolve to prevent this situation from occurring." Meanwhile, the Samsung Electronics union has announced plans to strike starting May 21, citing issues with performance bonus criteria, while the company and the union are currently undergoing post-adjustment procedures with the Central Labor Relations Commission. 2026-05-19 10:35:03

Hanwha Solutions and KAIST Develop Bio-Plastic Technology to Replace Naphtha Hanwha Solutions announced that it has partnered with KAIST to develop bio-technology capable of mass-producing eco-friendly raw materials for plastics and textiles using waste resources. The need for alternative raw materials has increased due to soaring naphtha prices and supply instability in the petrochemical industry. This achievement is being recognized as a next-generation key technology that ensures both resource supply stability and environmental sustainability. The technology developed by the Hanwha Solutions-KAIST Future Technology Research Institute utilizes glycerol, a byproduct of biodiesel production, as a raw material. The research team has developed high-efficiency microorganisms for producing 1,3-propanediol (1,3-PDO), a substance used in plastics and cosmetics, and has advanced the fermentation process to convert waste resources into high-value materials. The research has progressed to the stage of practical industrial application. The team successfully demonstrated high productivity in a 300-liter pilot process, which is a precursor to large-scale production facilities. This success indicates that results achieved in the laboratory can be replicated in real-world processing environments. Additionally, the research team applied a 'non-antibiotic process' that allows for stable raw material production without antibiotics, utilizing computer simulation-based 'digital design technology' to pre-design microbial metabolic processes. This approach has led to reduced production costs, mitigated environmental regulatory risks, and enhanced eco-friendliness. This achievement is the result of collaboration that began in November 2015, exemplifying a successful industry-academia partnership that combines KAIST's research capabilities with Hanwha Solutions' commercialization expertise. The teams have filed six patents and published 13 papers through this eco-friendly bio-platform research. Kim Jeong-dae, head of Hanwha Solutions' research institute, stated, "This research is significant as it confirms the potential to replace existing petrochemical processes using bio-based raw materials. We expect it to serve as an important foundation for sustainable chemical material production and industrial application in the future." Lee Sang-yeop, a distinguished professor in the Department of Bio-Chemical Engineering at KAIST, remarked, "This research demonstrates that microbial-based chemical production can be scaled up from the laboratory to actual industrial levels, contributing to the more eco-friendly production of various chemical materials." Meanwhile, Hanwha Solutions is collaborating with the Korea Energy Technology Institute and KAIST on key catalyst and process development as part of a national project led by the Ministry of Trade, Industry and Energy. Together with its affiliate Hanwha TotalEnergies, the company is also advancing commercialization validation and designing a commercial process with an annual capacity of 30,000 tons. In addition, it is concurrently developing bio-plastics and biodegradable materials to establish a plastic resource recycling ecosystem.* This article has been translated by AI. 2026-05-19 10:30:00

Samsung's Bespoke AI Refrigerator Impresses Tech Media in the U.S. and Europe Samsung Electronics' 2026 'Bespoke AI Family Hub' refrigerator is receiving praise from tech media in the U.S. and Europe. Analysts suggest that its advanced artificial intelligence (AI)-based ingredient management features are reducing household labor and attracting global consumer interest. According to reports on May 19, U.S. tech outlet Tom's Guide selected the refrigerator as a standout AI product in its 'AI Awards 2026,' which evaluates various products across categories such as PCs, mobile devices, wearables, and home appliances for practicality and completeness. The Samsung 'Bespoke AI Family Hub' was recognized in the smart home, appliance, and security sectors. The publication noted, "By combining Samsung's 'Vision AI' technology with Google's generative AI, Gemini, the refrigerator can recognize ingredients more accurately," adding that it distinguishes between avocados and zucchinis, as well as regular and diet cola. It also suggests personalized meal plans and shopping lists based on the ingredients stored. British tech outlet T3 also highlighted nine kitchen products that help reduce food waste, stating, "This year's Family Hub refrigerator has been upgraded to utilize AI and camera technology to minimize food waste." The internal camera recognizes the entry and exit of ingredients and manages expiration dates, providing timely notifications. U.S. business media outlet Business Insider praised the refrigerator for its ability to serve as a personalized shopping assistant through 'AI Vision' technology, stating, "It automatically manages ingredients and connects to purchasing missing items, creating a smart kitchen experience in daily life." The Family Hub series from Samsung Electronics, first introduced in 2016, has won a total of 10 innovation awards at the Consumer Electronics Show (CES), the world's largest IT and home appliance exhibition, affirming its competitive edge in the global market. This year's model significantly expands the range of ingredient recognition through its internal camera. It can identify fresh and processed foods, as well as packaged items and handwritten labels on containers, automatically registering them in a food list. The 'AI Food Manager' analyzes users' refrigerator usage patterns to inform them of necessary purchases and recommends recipes for questions like 'What should I eat today?' It also offers a 'Food Note' feature that analyzes ingredient usage over the week and provides reports for healthier eating habits.* This article has been translated by AI. 2026-05-19 10:28:06

Samsung Live: Another last-ditch round of talks underway as strike deadline looms SEOUL, May 19 (AJP) - Samsung Electronics and its largest labor union returned to the negotiating table on Tuesday for a second day of government-mediated talks, with a planned full-scale strike just two days away. Negotiators from both sides are working to reach a deal over disputes involving wages and performance bonuses following massive profits fueled by an unprecedented artificial intelligence (AI)-driven semiconductor supercycle. According to Samsung insiders, the closed-door session is underway at the National Labor Relations Commission (NLRC) in the administrative city of Sejong, in a last-ditch effort to avert the union's planned 18-day walkout scheduled to begin Thursday unless a deal is reached in time. The main focus of Tuesday's talks is whether the NLRC can put forward a final proposal acceptable to both sides. If accepted by management and union leaders, the mediated proposal will carry the same legal binding force as a collective bargaining agreement. Both sides reportedly tried to narrow their differences over profit-sharing for employees as well as caps on salary increases in their talks the previous day. Park Jung-bum, an NLRC official, was cautiously optimistic, saying both sides engaged constructively and are "finding common ground." Although talks are scheduled to end by 7 p.m., industry watchers expect the tug-of-war bargaining to continue late into the night or even into the next day, given the urgency of averting a strike that could have widespread economic repercussions across the country. Government authorities are also on high alert, having previously warned they could step in to halt the walkout if it poses a serious threat to the national economy. 2026-05-19 10:25:15

Booking.com Targets 30 Million Tourists with Hyper-Personalization in K-Small Cities "Without generative artificial intelligence (AI), we would never have discovered hidden gems in Korea, allowing seamless payments in local currency. The combination of AI search and local fintech will break down barriers for foreign tourists and drive them to small cities," said Nuno Guerreiro, Booking.com's Director for North Asia-Pacific. As the global travel platform celebrates its 30th anniversary, Booking.com is leveraging its 'Hyper-Personalization' technology to globalize local tourism in Korea. The goal is to disperse foreign tourists, currently concentrated in major cities like Myeongdong in Seoul, to boost local economies. This initiative aligns with the South Korean government's push for balanced regional development, aiming for an early achievement of 30 million inbound tourists. During a press briefing in central Seoul on May 18, Guerreiro highlighted the paradigm shift in the global travel industry and the potential of the Korean market. Having joined Booking.com in 2007 and spent 18 years in various global roles, he has focused on the Asian market for the past seven years. "We aim to expand the appeal of Korean tourism, which is currently concentrated in major cities, to a national level through hyper-personalization technology," he stated. The global travel industry has experienced unprecedented growth following the pandemic. According to Booking Holdings' first-quarter results, the number of nights booked increased by 6% year-over-year to 338 million. The total booking value rose by 15% to $53.8 billion, while quarterly revenue grew by 16% to $5.5 billion, demonstrating strong growth momentum. With support for over 40 languages and nearly 29 million accommodations, Booking.com's infrastructure has been a solid foundation for its growth. ◆ Hyper-Personalization as a Ticket to K-Small Cities: "Avoiding Crowds with AI" The Korean market boasts explosive inbound demand, ranking third in Asia for traveler searches from May to August this year. Booking.com is betting on the activation of 'local small city tourism' to distribute this demand nationwide. The dominance of individual travelers (82.9%) chasing K-culture has shifted the focus of the inbound tourism market. Additionally, 67% of all travelers want to discover new 'alternative destinations' using AI to avoid crowds at popular tourist spots. Hyper-personalization technology is key to overcoming the physical and psychological barriers that travelers face when heading to small cities. Its natural language-based AI search network identifies attractions in these areas, while a seamless payment infrastructure allows global travelers to pay in their local currency using platforms like Naver Pay and Kakao Pay. For instance, travelers from Brazil or the U.S. can book a small hanok accommodation in Gyeongju without facing any inconveniences related to currency exchange or payment refusals. In the first quarter of this year, the growth rate of Booking Holdings' payment platform surged by 24% year-over-year, with 72% of total booking transactions processed on the platform. In fact, customer data revealed that Gyeongju ranked first as the 'most hospitable city in Korea for 2026,' followed by Jeonju, Seogwipo, and Sokcho, showcasing a boom in regional tourism. The recent increase in long-term stays of over seven days, particularly among active seniors and multi-generational travelers, is also a positive sign for the activation of small city tourism. ◆ High Level of Technology Adoption: The Dominance of 'Connected Trip' Guerreiro identified 'high-value tourism' and 'hyper-personalized experiences' as key trends for 2026, driven by the remarkable technology adoption in the Korean market. According to Booking.com, 69% of Korean travelers used AI during their trips, 19 percentage points higher than the global average. In the Asia-Pacific region, 95% of consumers expressed optimism about AI usage, and 93% wanted AI features in future travel. Notably, the success of Booking.com's 'Connected Trip,' a one-stop service established over 20 years ago, is particularly evident in Korea. The usage rate for booking three or more elements, such as flights, accommodations, and activities, is 26% in Korea, significantly higher than the global average of 17%, demonstrating market sophistication. Guerreiro emphasized, "Our mission goes beyond simply attracting foreign tourists; we aim to lay the groundwork for sustainable growth for local communities. We will actively engage with the Korean government and relevant agencies to turn this vision into reality."* This article has been translated by AI. 2026-05-19 10:23:03