New voting culture takes shape among younger voters SEOUL, June 4 (AJP) - Voters turned out in record numbers for Wednesday's local elections, with final turnout reaching 61 percent, up 9.8 percentage points from 50.9 percent in the 2022 local elections. Early voting also hit a record high at 23.51 percent, up 2.89 percentage points from the previous local elections. But that tells only part of the story. At polling stations across the country, people did not just show up alone, as friends, couples, and families came together. After voting, many held up their ink-stamped fingers for photos. Throughout the day, social media filled with such images showing proof of voting. For younger voters, this shift has been building for years. What started as a simple fun among a generation who had largely ignored politics gradually turned into real engagement. By election day, that engagement had become more personal, with voters bringing their own values into the voting booth. The local elections, held every four years to choose city mayors, provincial governors, education superintendents, and other local officials, are now over. But for many voters, the habit of showing up may be taking root in a new form. 2026-06-04 18:56:04

Turkish foreign minister urges S. Korea partnership to stabilize global governance SEOUL, June 04 (AJP) - South Korea and Türkiye must leverage their diplomatic influence to address a deepening crisis in global governance and stabilize a fragmented international order, Turkish Foreign Minister Hakan Fidan said Thursday. Speaking at the 143rd International Policy Forum at Korea University in Seoul, Hakan Fidan warned that the current international system is unsustainable and requires coordinated intervention by capable middle powers. The diplomat highlighted a profound paradox in modern global cooperation. He noted that while the international community has established an unprecedented number of institutions and treaties over the past 80 years, the sense of shared global purpose has never been more severely fractured. He cautioned against viewing contemporary instability purely as a security crisis. Relying on familiar tactics like military deployments, deterrence, and containment fails to address the root issue, which he described as a fundamental breakdown requiring a visionary response. The escalating conflict involving Iran in the Gulf serves as a prime example of this instability, carrying severe consequences for global economic and strategic stability. Ankara is currently utilizing its diplomatic channels to halt the active conflict and prevent secondary regional spillover. Working alongside Indonesia, the Turkish government is closely coordinating with Pakistan, which is performing the primary mediating role in ongoing negotiations between the United States and Iran. A similar systemic failure is evident in Ukraine, now a grinding war of attrition in its fifth year where a ceasefire remains elusive due to incompatible territorial claims. The threat of the conflict expanding into a broader war between Russia and Europe remains high following a recent intermediate-range missile strike near the borders of the European Union and NATO, an act described as an unacceptable escalation. Ukrainian forces have maintained a mid-range strike campaign against Russian ground lines of communication, successfully disrupting logistics across the theater. As the war continues indefinitely, European leaders face immense pressure to provide Kyiv with a credible and speedy path to European Union membership to help secure a future peace deal. The situation in Gaza represents the absolute peak of this systemic breakdown, with the top Turkish envoy characterizing the international community's failure to intervene in the ongoing genocide as an acute crisis of legitimacy. He warned that a system unable to prevent atrocities or uphold its founding principles is bound to fail. Nations that long benefited from the current framework are now facing crises at their own borders, he added. As power shifts fluidly across a growing number of theaters, no single actor can manage these global challenges alone. This dynamic elevates the role of capable middle powers like South Korea and Türkiye. Their distinct societies and backgrounds allow them to construct a resilient consensus beyond the narrow interests of singular power blocs. Achieving concrete diplomatic outcomes relies on regional ownership and global institutional reform. Regions must manage their own risks to prevent exporting instability to the rest of the world, as peace cannot be imposed from the outside. The minister also criticized the United Nations Security Council, arguing its veto architecture reflects a long-receded distribution of power that fails to represent current realities. Reaffirming the statement that the world is bigger than five, he demanded structural changes to establish fairness, inclusiveness, and shared responsibility. The foreign minister assumed his current Cabinet position in 2023 following a 13-year tenure as director of Türkiye's National Intelligence Organization. His extensive administrative and academic background includes serving on the Board of Governors of the International Atomic Energy Agency and holding a doctorate in international relations from Bilkent University. Addressing the historical ties between Seoul and Ankara, he grounded his call for reform in the military cooperation seen during the war. He noted that when the concept of collective security was put to the ultimate test on the Korean Peninsula, South Korea and Türkiye stood shoulder to shoulder. 2026-06-04 18:51:33

NVIDIA's Jensen Huang Strengthens Alliances in South Korea for Physical AI Jensen Huang, CEO of NVIDIA, is set to explore business opportunities across South Korea's artificial intelligence (AI) ecosystem. His strategy involves diversifying alliances in the 'Physical AI' sector by meeting with major corporate leaders, as well as representatives from the gaming industry and AI and robotics startups. According to industry sources, Huang will begin a four-day official visit to South Korea on June 5. This marks his return to the country approximately seven months after visiting Gyeongju during the Asia-Pacific Economic Cooperation (APEC) summit last October. This visit has a different focus compared to last year. In 2025, Huang's trip centered on strengthening partnerships with Samsung Electronics and SK to ensure the supply chain for high-bandwidth memory (HBM). He also collaborated with Hyundai Motor Company to secure graphics processing units (GPUs) essential for next-generation autonomous driving, emphasizing hardware partnerships. This year, the focus shifts to identifying new partners for Physical AI in the South Korean market and expanding the AI infrastructure ecosystem. Discussions with Koo Kwang-mo, chairman of LG Group, are expected to center on integrating NVIDIA's AI chip solutions into home appliances, robotics, and manufacturing processes. Collaboration in the robotics sector is also set to become more concrete. Huang and Park Jung-won, chairman of Doosan Group, will participate in a ceremonial first pitch and at-bat during a Doosan Bears baseball game on June 7. NVIDIA is currently engaged in various collaborations with Doosan's key subsidiaries, particularly aiming to launch intelligent robotic solutions next year and an industrial humanoid by 2028. Additionally, Huang will meet with Kim Taek-jin, CEO of NCSoft, and Jang Byung-kyu, chairman of Krafton, to discuss collaborations on AI PC chipsets and capturing the next-generation gaming market with digital humans. While NVIDIA leads the global market in AI computation within servers, it lacks competitiveness in the Physical AI sector, which interacts with real-world environments. Although NVIDIA produces advanced GPUs, it currently faces a shortage of 'real-world data' necessary for training and operating these systems. South Korean companies, which have accumulated world-class practical data and hardware capabilities in manufacturing and robotics, are viewed as optimal partners to fill this gap for NVIDIA. Jang Byung-tak, a professor at Seoul National University’s Department of Computer Science, stated, "Huang's visit signifies that South Korea, possessing both large-scale manufacturing infrastructure and high-quality industrial data, is the best testing ground and strategic partner for completing the Physical AI ecosystem. When NVIDIA's powerful computing capabilities combine with the precise manufacturing technologies and robotic data of South Korean companies, the true era of Physical AI will begin to unfold."* This article has been translated by AI. 2026-06-04 18:30:00

Concerns Rise Over Budget Cuts for K-On-Device AI Semiconductor Project The South Korean government's K-On-Device AI semiconductor technology development project is facing increased concerns as its budget has been reduced by approximately 200 billion won from the initial plan, and the project timeline has been delayed by about three months.The government has stated that it will actively support this technology development, which involves an investment of several hundred billion won, to ensure it leads to semiconductor mass production and integration into finished products.According to the semiconductor industry on June 4, the K-On-Device AI semiconductor technology development project is set to be announced in June, with full-scale operations expected to begin in July. This is about three months later than initially planned, as the government aimed to start the project in March.The project's budget has also been scaled back. The Ministry of Trade, Industry and Energy confirmed on June 2 that the total budget for the K-On-Device AI semiconductor technology development project has been finalized at 800.23 billion won. The government will contribute 511 billion won, while the remaining budget will come from private sector investments. This represents a reduction of about 20% from the original budget proposal of 1 trillion won.The K-On-Device AI semiconductor technology development project will involve domestic fabless companies designing AI semiconductors based on industry needs, with production carried out by local foundries. This initiative aims to connect semiconductor demand companies with fabless firms and foundries. The project will focus on developing customized AI semiconductors for four key industries: automotive, Internet of Things (IoT) and home appliances, machinery and robotics, and defense.Concerns have been raised that the budget cuts may undermine the project's effectiveness. On-device AI semiconductors require significant investment from design to validation and mass production, leading to fears that budget reductions could result in a scaled-back project scope and diminished support. Notably, about 30% of the total project budget is expected to be funded by demand companies. With the overall budget shrinking, there are worries that the financial burden on these companies will increase, potentially reducing their willingness to participate in the project.Experts emphasize the necessity of follow-up support that extends beyond research and development to actual mass production and product integration. They argue that the Ministry of Trade, Industry and Energy, which is leading the project, must understand the unique characteristics of the AI semiconductor industry and reflect these in project execution. One industry representative stated, "Even if domestic fabless companies secure technological capabilities, without the adoption and mass production support from demand companies, it will be difficult to enhance industrial competitiveness. The government needs to establish specific follow-up policies that support validation, market access, and connections with demand companies after development."In this context, Minister of Trade, Industry and Energy Kim Jeong-kwan has stated, "We will spare no effort in providing comprehensive support, including R&D, validation, mass production, financial assistance, and regulatory improvements, to ensure that the developed chips can be integrated into finished products in key industries such as automotive."* This article has been translated by AI. 2026-06-04 18:30:00

Kolon Mobility Group Acquires AutoHub Selca to Enter Auto Auction Business Kolon Mobility Group, a domestic importer of vehicles, is entering the auto auction business. On June 4, Kolon Mobility Group announced that it has acquired a 100% stake in AutoHub Selca, a company specializing in auto auctions. AutoHub Selca operates a large auction house in Anseong, Gyeonggi Province. With this acquisition, Kolon Mobility Group aims to complete an integrated value chain covering the entire lifecycle of vehicles, from new car purchases to resale. The company will also strengthen its procurement channels for its used car platform, '702 Certified Used Cars.' Industry experts believe that this value chain development will serve as a significant opportunity to enhance various business areas, including rental cars, vehicle repairs, and warranty extensions. Kolon Mobility Group has declared its goal to achieve a corporate value of 1 trillion won by next year through business model diversification. Choi Hyun-seok, CEO of Kolon Mobility Group, stated, "The acquisition of AutoHub Selca is a strategic decision to fundamentally enhance the competitiveness of the 702 Certified Used Cars business and to set a new standard in South Korea's used car market." According to the Ministry of Land, Infrastructure and Transport, the domestic used car market is expected to reach approximately 2.42 million units annually by the end of 2024, surpassing the new car market, which stands at around 1.67 million units. 2026-06-04 18:24:00

Kim Hye-kyung: Korea and France as Close Partners Through Culture "The mutual understanding built on trust and friendship between our two countries is deepening and expanding every day. Now, we have become close partners who understand each other through cultural and artistic exchanges in our daily lives," said Kim Hye-kyung on June 4 at the 140th anniversary celebration of Korea-France diplomatic relations held at Deoksugung Palace in Seoul. Kim noted, "140 years ago, we opened our hearts to each other despite the distance and differences in language and culture." She expressed gratitude for France's support during the Korean War, stating, "France was a significant force in protecting our freedom and peace as a member of the UN forces. The noble sacrifices and dedication of French youth during that time remain in the hearts of our people. I would like to take this opportunity to express my deep gratitude once again." She added, "The French people love Korean cultural content and K-pop, while we highly appreciate French literature and art through the works of Victor Hugo, Monet, and Rodin. I hope this event becomes a precious time for our hearts to connect and unite." The event was attended by approximately 80 guests, including Philippe Bertoux, the French Ambassador to South Korea; Choi Hwi-young, Minister of Culture, Sports and Tourism; actress Jeon Ji-hyun; and Felix from the K-pop group Stray Kids. Ambassador Bertoux remarked, "The signing of the Korea-France Treaty of Commerce and Navigation in 1886 was a historic treaty that marked the beginning of our diplomatic relations." He continued, "With President Emmanuel Macron's state visit to Korea in April, our relationship has been elevated to a global strategic partnership. Through this, our soft power will be strengthened through mutual exchanges." The celebration featured a performance by soprano Jo Sumi and French pianist David Kadouch.* This article has been translated by AI. 2026-06-04 18:18:00

Kioxia Surpasses Toyota, Nvidia Outpaces Apple as Semiconductor Sector Reshapes Market Caps in Korea, U.S., and Japan Artificial intelligence (AI) is transforming the market capitalization landscape of stock exchanges in the U.S., South Korea, and Japan. Previously dominated by smartphone, internet platform, and automotive companies, the market is now led by AI semiconductor and memory firms. In the U.S., Nvidia has overtaken Apple to become the world's largest company, while in South Korea, Samsung Electronics and SK Hynix are driving stock market gains. In Japan, memory manufacturer Kioxia Holdings is challenging Toyota Motor Corporation, climbing to the upper echelons of market capitalization. According to the Korea Exchange, the KOSPI index reached 8,801.49 as of June 2, marking a 226.1% increase from a year earlier when it stood at 2,698.97. The surge in demand for AI semiconductors has propelled Samsung Electronics and SK Hynix, with their stock prices soaring by 534.7% and 1,037.3%, respectively, significantly outpacing the KOSPI's overall growth. As of June 2, these two companies accounted for approximately 52% of the KOSPI's market capitalization. With the focus on AI benefiting the semiconductor sector, the status of these companies in the South Korean stock market has risen significantly. Once regarded primarily as a smartphone-centric IT company, Samsung Electronics has emerged as a key beneficiary of the expanding demand for memory semiconductors in the AI era. Recently, it has entered the top 10 global market capitalization rankings, competing with major tech giants. SK Hynix's transformation is even more dramatic. As a key supplier of high-bandwidth memory (HBM) to Nvidia, it is now considered one of the biggest beneficiaries of the AI era. Analysts note that the company has shifted from being heavily influenced by the DRAM market to becoming a central player in AI infrastructure expansion. Just two years ago, SK Hynix was far outside the top 100 in global market capitalization but has recently climbed to 12th place, joining the ranks of leading global technology firms. The positive outlook for the semiconductor sector is also boosting expectations for the South Korean stock market. Global investment bank Goldman Sachs recently raised its 12-month target for the KOSPI from 9,000 to 12,000, citing a longer-than-expected favorable semiconductor environment and improved corporate profit forecasts. This adjustment comes less than a month after the target was increased from 8,000 to 9,000. While Samsung Electronics and SK Hynix lead the South Korean market, Nvidia is effectively dominating the U.S. market. Nvidia's market capitalization recently surpassed $5.2 trillion, making it the world's largest company. In 2017, Nvidia's market cap was approximately $117 billion, accounting for just 3.4% of the total market cap of the seven major U.S. tech companies (M7). However, by virtually monopolizing the market for AI training graphics processing units (GPUs), Nvidia's value has skyrocketed. It now represents 22.5% of the total M7 market capitalization, a significant increase of about 6.6 times over nine years. This shift underscores how AI has completely altered the power dynamics of the U.S. stock market. In Japan, AI is also shaking up the stock market landscape. The spotlight is on Kioxia Holdings, a NAND flash memory company. For a long time, Japan's stock market has been dominated by automotive and industrial firms, with Toyota Motor Corporation symbolizing Japanese manufacturing and holding the top market cap. However, Kioxia's recent stock surge has disrupted this status quo. The company's shares recently rose by over 7%, pushing its market cap past 45 trillion yen at one point, allowing it to surpass Toyota and become the second-largest publicly traded company in Japan. Just a year ago, Kioxia was ranked 169th in market capitalization. Market analysts believe that the changes brought about by AI in the stock market are unlikely to be temporary. Kim Young-geun, a researcher at Mirae Asset Securities, stated, "Kioxia is reducing its sensitivity to economic fluctuations by increasing its revenue share from data centers and establishing a stable profit structure through a disciplined supply strategy. This change will positively impact the entire memory sector." He maintained target prices for Samsung Electronics and SK Hynix at 550,000 won and 3,800,000 won, respectively. 2026-06-04 18:15:00

Gentle Monster Launches Veggie Collection at Pop-Up Store in Seoul On June 4, the pop-up store located in Seoul's Seongsu-dong, known as House Nowhere, drew attention with a unique display. A giant broccoli character, 'Vegimon,' was seen peacefully resting with a small onion on its head, creating a whimsical atmosphere reminiscent of a farm. Moving past Vegimon, visitors encountered the true stars of the event: ten new eyewear styles from Gentle Monster's Veggie collection. This collection reinterprets the 'Farm Girl Core' trend, which has recently taken the global fashion and lifestyle market by storm. The Farm Girl Core aesthetic emphasizes a natural and rustic vibe, contrasting with urban sophistication. The Veggie collection features organic shapes inspired by vegetables like tomatoes and bell peppers, with all products designed to be foldable. Notably, many attendees were drawn to the 'Radi 02' model with round metal frames, worn by K-pop star Karina in a campaign video, and the 'Topi 02' model, which boasts curves reminiscent of a bell pepper. The pop-up store was filled with characters that enhanced the atmosphere, featuring various vegetable characters placed throughout the space, creating an illusion of walking through a farm. The interactive photo booth was a popular spot, allowing visitors to create their own Vegimon character and receive a photo card. This area was bustling with young visitors eager to take pictures with the Vegimon plush toy. Gentle Monster's latest project aims to reach beyond the domestic market and target a global audience. On June 5, the Veggie collection will simultaneously launch in six major cities worldwide, including Shanghai, Beijing, Tokyo, Bangkok, and New York, welcoming fans around the globe. Customers purchasing Veggie collection products at the pop-up store will receive a limited-edition 'Vegimon keychain' as a gift, while the collection will also be available on the official website and in physical stores. * This article has been translated by AI. 2026-06-04 18:15:00

Shin Young Securities Plans to Retire 32% of Shares and Increase Cash Dividends Shin Young Securities plans to retire 32.01% of its outstanding shares and increase cash dividends to enhance shareholder returns. According to a filing with the Financial Supervisory Service on June 4, the company will present its plan for the retirement and utilization of its treasury stock at the annual general meeting scheduled for June 19. Shin Young Securities holds a total of 8,422,754 shares of treasury stock, which accounts for 51.23% of its issued shares. Of this, the company plans to retire 5,262,283 shares (32.01%) within the statutory deadline. Based on the closing price of 188,400 won on that day, this amounts to approximately 999 billion won. The shares to be retired are from the existing preferred stock. Shin Young Securities acquired these shares during the process of converting preferred stock into common stock in April 2024 to protect the rights of preferred stock investors. This decision follows a recently enacted amendment to the Commercial Act, which mandates that treasury stock acquired after the law's implementation must be retired within one year. Treasury stock acquired before the law's implementation must be retired or managed according to a plan approved by the shareholders' meeting by September 2027. Shin Young Securities has proposed its treasury stock retirement plan to shareholders more than a year ahead of the legal deadline. The company stated that this move aims to address market concerns regarding the high proportion of treasury stock and to clarify uncertainties about future utilization plans. After the retirement, the remaining treasury stock of 3,160,471 shares (19.22%) will be used for shareholder returns and employee performance compensation. The specific timing and method of disposal will be finalized with shareholder approval before September of next year. The company is also increasing its dividends. Shin Young Securities has decided to raise the cash dividend for common stock by 2,500 won (50%) from the previous year, bringing it to 7,500 won per share. As a result, the total dividend amount will increase by approximately 20 billion won compared to the previous year. A representative from Shin Young Securities stated, "We plan to retire a significant portion of our treasury stock within the legal deadline and actively utilize the remaining shares as a means of returning value to shareholders. We will proactively respond to the capital market's demand for enhancing corporate value and the intent of the Commercial Act amendment."* This article has been translated by AI. 2026-06-04 18:12:00

Starbucks Faces Backlash Over Controversial Marketing Campaign "We have terminated the employee involved as of today. We had no way to prevent this. We would appreciate your understanding and will manage our staff better in the future." This apology was issued by an individual claiming to be a manager after a controversy erupted when a restaurant employee mocked customers online. This four-sentence statement has since become a reference point for corporate apologies, often cited in online communities as a model for acknowledging mistakes, taking responsibility, and promising to prevent recurrence. An effective apology demonstrates an understanding of the wrongdoing and shows corrective actions taken.By this standard, Starbucks Korea's response to the 'Tank Day' marketing controversy last month was swift. Shinsegae Group Chairman Jeong Yong-jin dismissed Starbucks Korea CEO Son Jeong-hyun and the responsible executives on the day of the incident. The following day, he issued a public apology stating, "I acknowledge that I have taken lightly the pain and sacrifices of all those who have dedicated themselves to democracy, and I take full responsibility for this mistake." He also promised to provide education on historical awareness and ethical standards to all employees. The apology included all the essential elements: accountability, acknowledgment of wrongdoing, and a commitment to prevent future issues.However, unlike previous cases, the phrase "we had no way to prevent this" does not apply to the 'Tank Day' marketing incident. The event was planned by Starbucks Korea's commerce team and went through approvals from the team leader, responsible staff, department head, and CEO. No one raised concerns about terms like 'Tank Day' or 'bang on the desk' during this process. It has been confirmed that there were instances where approvals were granted without reviewing attached files. There were clearly multiple opportunities to prevent damage to the company's image and boycotts, but internal mechanisms failed to function each time. This cannot be simply attributed to a minor mistake or lack of sensitivity from the staff.Moreover, while there used to be a legal review process for such marketing phrases, this time that step was skipped. Jeong Sang-jin, Shinsegae Group's Chief Management Officer, acknowledged, "Due to the prioritization of marketing immediacy, the legal review process that was previously in place was not followed, revealing a lack of social and historical sensitivity within Starbucks Korea." In prioritizing rapid execution, they bypassed basic verification procedures. Despite holding the title of the 'undisputed number one' coffee franchise, the internal processes were evidently lax.Risk management is not about writing an apology after a crisis occurs; it is about preventing issues from arising internally before they escalate. Starbucks, in particular, is a brand known for frequent marketing campaigns. Seasonal events, merchandise, and promotions often involve phrases that directly connect with consumers. Even minor expressions can clash with social contexts. If phrases that could trivialize historical events or be interpreted as hate speech are not filtered out, a 'second Tank Day' controversy could arise at any time.On May 26, Chairman Jeong bowed his head and promised two things: to make today’s apology a starting point rather than an end, and to regain public trust through actions rather than words. For Jeong's promises to resonate with consumers, the first step must be a thorough review of internal systems. This does not mean simply adding more approval layers. It means establishing procedures to identify and halt problems, fostering an environment where dissent can be voiced, and implementing a verification system that reflects social sensitivity.As Jeong stated, consumer trust cannot be restored through apologies alone; it must be accompanied by action. Brand trust is rebuilt when consumers are assured that similar incidents will not happen again. For Starbucks to be seen as a space for enjoying coffee rather than a battleground for ideological conflicts, it must first demonstrate what changes have been made following the apology. 2026-06-04 18:12:00