Conflict Erupts Between Jeong Cheong-rae and Jang Dong-hyuk at 5·18 Commemoration Jeong Cheong-rae, leader of the Democratic Party, and Jang Dong-hyuk, leader of the People Power Party, attended the 5·18 Democratic Movement commemoration on May 18, expressing condolences while engaging in a heated exchange. Jeong stated, "We must judge the insurrection nominations," to which Jang retorted, "5·18 has become a tool for power expansion." Jeong arrived at the national cemetery at 8:40 a.m. and paid his respects for about 20 minutes before speaking with reporters. He reiterated the need to resolve the insurrection through victory in the upcoming June 3 local elections. "Seeing the insurrection party's nominations that still advocate insurrection and shout for Yoon Seok-youl, I prayed to the spirits of the Gwangju democracy martyrs to judge them," Jeong said. "If there is a will from heaven, the insurrection nominations will be sternly judged in the name of history, the constitution, and democracy." He emphasized the historical significance of the 5·18 Gwangju Democratic Movement and reiterated plans to include its spirit in the preamble of the constitution. "If it weren't for the 5·18 Democratic Movement, the current constitution, created through the June struggle of 1987, would not exist. The martial law of December 3 would have succeeded, and many citizens would still be suffering in a dark tunnel of dictatorship. I deeply thank the spirits of 5·18," he said. Jeong also expressed regret for failing to include the spirit of 5·18 in the constitution's preamble, stating, "I feel ashamed and sorry to the spirits of Gwangju. However, I will do my best to ensure that the spirit of 5·18 is included in the preamble and that we can never dream of martial law again." Jeong made remarks seemingly directed at Jang, who was also attending the commemoration. During a campaign meeting earlier that morning, he asked, "It seems that officials from the People Power Party will also attend. Even if you are unhappy and angry, please remain silent." Jang, who attended the ceremony, acknowledged the significance of May 1980 in preserving South Korea's liberal democracy but criticized the policies of the Lee Jae-myung administration and the Democratic Party. He stated on Facebook, "The true meaning of the 5·18 spirit is noble sacrifice for freedom and human rights, but to them, it is merely a tool for power expansion," labeling the judicial reform proposals pushed by the Lee administration and the Democratic Party as 'bulletproof' and 'removal of political opponents.' After the ceremony, Jang remarked, "It is truly strange and inappropriate for a president who seeks to eliminate his own trial to read a commemorative speech at the 5·18 site. The spirits were crying out that even the president must face trial if he commits a crime. Lee Jae-myung's speech could not even fill the 5·18 square." He added, "Our citizens will no longer tolerate the destruction of democracy by Lee Jae-myung. The People Power Party will fight alongside the people with our lives on the line," hinting at a struggle against the ruling party. Despite Jeong's request for silence during the ceremony, attendees shouted and criticized Jang upon his arrival.* This article has been translated by AI. 2026-05-18 17:07:32

SK Ecoplant to Implement 'DE'FINE' in Shinbanpo 20 Reconstruction Project SK Ecoplant has secured the reconstruction project for the Shinbanpo 20 apartment complex, one of the prominent redevelopment sites in Gangnam, Seoul.On May 18, SK Ecoplant announced that it has been selected as the construction company for the Shinbanpo 20 reconstruction project. The project will involve the development of four buildings with a total of 190 residential units, spanning four underground levels and 35 above-ground floors, at the site located in Jamwon-dong, Seocho-gu. The total contract amount is approximately 204.8 billion won.The site is situated within the Banpo and Jamwon living area and is just a two-minute walk from Banpo Station on Subway Line 7. It offers easy access to the Olympic Highway and the Gyeongbu Expressway, facilitating convenient vehicle movement throughout Seoul and the surrounding metropolitan area. Jamwon Station on Line 3 is also a seven-minute walk away.Nearby educational institutions include Banwon Elementary School, Wonchon Elementary School, Gyeongwon Middle School, Wonchon Middle School, and Cheongdam High School, providing excellent educational opportunities. Additionally, major shopping and convenience facilities such as Shinsegae Department Store Gangnam, Newcore Outlet, Banpo Shopping Town, and the underground shopping mall at Seoul Express Bus Terminal are in close proximity, enhancing the convenience of daily life.With this contract, SK Ecoplant aims to solidify the position of its high-end premium brand 'DE'FINE' in the Gangnam redevelopment market.Lee Gi-yeol, head of SK Ecoplant's Solution Sales Division, stated, "Based on our extensive experience and superior construction capabilities accumulated in urban redevelopment projects, we will provide the highest residential value to the residents. We plan to use this Shinbanpo 20 contract as a stepping stone to continuously enhance our competitiveness in redevelopment projects through our premium brand DE'FINE."An SK Ecoplant official noted, "This contract marks the second application of the 'DE'FINE' brand in the Jamwon-dong area, which is significant for expanding our brand presence in the high-end market of Gangnam. We will finalize the project name after discussions and general meetings with the association before construction begins, including integrated reviews and project approvals."* This article has been translated by AI. 2026-05-18 17:01:53

Trump Warns of Strong Action Against Iran Without Better Deal Donald Trump has warned of potential military action against Iran unless the country presents a better negotiating proposal. Despite a recent summit with Chinese President Xi Jinping, Trump has not been able to reach a clear resolution regarding Iran, leading to a review of military options as tensions in the Middle East escalate. On May 17, Trump stated on the social media platform Truth Social, "Iran doesn’t have much time," urging the country to act quickly or face severe consequences. In a phone interview with Axios, he reiterated that Iran's regime would face much stronger attacks if it fails to offer a more favorable agreement. "We want a deal. But they are not at the level we want them to be," Trump said. "They need to reach that level, or they will be hit hard, and they don’t want that." These comments reflect the U.S. administration's dual approach of seeking diplomatic solutions while simultaneously increasing military pressure. Axios reported that Trump plans to convene the National Security team in the White House Situation Room on May 19 to discuss military options against Iran. Previously, on May 16, Trump met with Vice President JD Vance, Secretary of State Marco Rubio, CIA Director John Ratcliffe, and Special Envoy Steve Witkoff at his golf course near Washington, D.C., to discuss strategies for responding to Iran. Cooperation with Israel has also been noted. Israeli media, including the Times of Israel, reported that Trump and Israeli Prime Minister Benjamin Netanyahu discussed the possibility of resuming attacks on Iran during a phone call. The New York Times also reported that the Pentagon is preparing for the potential resumption of military operations against Iran, which were halted last month following a ceasefire declaration. Two officials in the Middle East indicated that the U.S. and Israel are enhancing their readiness for possible renewed attacks. Diplomatic mediation efforts continue, however. The Pakistani Interior Minister visited Tehran over the weekend to discuss a ceasefire agreement with Iranian officials. Pakistan serves as an official mediator between the U.S. and Iran, while Qatar is also maintaining contact with both sides to facilitate negotiations. Nevertheless, negotiations have stalled as Iran has not made sufficient concessions regarding its nuclear program and sanctions relief. U.S. officials believe that while Trump still seeks an agreement to end the conflict, military options have resurfaced due to Iran's refusal to comply. Renewed Armed Conflict in the Middle East The situation in the Middle East has become increasingly unstable following a drone attack on facilities near the Barakah nuclear power plant in the United Arab Emirates (UAE). The UAE Ministry of Defense reported that one drone damaged a generator outside the plant's internal boundary, while two others were intercepted. Although the UAE did not directly blame Iran, Anwar Gargash, a senior UAE diplomatic advisor, criticized the attack as a dangerous escalation, whether executed directly or through proxy forces. This attack has raised security concerns across the Gulf region. Following the incident, UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan spoke with his counterparts from Saudi Arabia, Kuwait, Qatar, Morocco, Egypt, and Bahrain to share information about the situation. According to AFP, the Saudi Foreign Ministry issued a statement declaring that the drone attack poses a threat to regional security and stability, expressing support for all measures to protect the UAE's sovereignty and security. On the same day, the Saudi Defense Ministry announced the interception and destruction of three unmanned drones that entered its airspace from Iraq, heightening concerns about drone threats in the Gulf region.* This article has been translated by AI. 2026-05-18 16:52:00

IBK Industrial Bank to Launch $230 Million 'Co-Growth Fund' with Asset Management Firms IBK Industrial Bank is set to provide a significant funding boost of 230 billion won (approximately $230 million) amid ongoing challenges in the venture investment market due to high interest rates and economic slowdown. On May 18, the bank announced its plans to select asset management firms for the '2026 IBK Co-Growth Fund.' Through this initiative, IBK plans to invest a total of 120 billion won across three sectors: impact, bio-healthcare, and culture, aiming to create a fund exceeding 230 billion won. Notably, the investment ratio has been increased to between 50% and 60% to alleviate the initial funding burden typically associated with sector-specific funds. The impact sector refers to businesses and investment areas that generate both financial returns and social or environmental value.Specifically, 20 billion won will be allocated to two asset management firms in the impact sector. In the bio-healthcare and culture sectors, 50 billion won will be invested in each, totaling 100 billion won across four firms. This approach aims to identify and support specialized asset management companies with strong expertise.The proposal submission period runs from today until May 29. IBK plans to select the asset management firms in July, with the chosen firms required to complete fund formation by December of this year.An IBK official stated, "We hope this Co-Growth Fund will contribute to the development of a balanced venture ecosystem and will continue to support productive finance alongside the IBK Innovation Fund aimed at fostering advanced strategic industries."* This article has been translated by AI. 2026-05-18 16:49:18

Jang Dong-hyuk Attends 5·18 Memorial, Criticizes Government's Use of Movement Jang Dong-hyuk, the leader of the People Power Party, attended the 46th anniversary memorial ceremony for the 5·18 Democracy Movement for the first time since taking office. After the event, he left without making any comments, but criticized President Lee Jae-myung and the Democratic Party on his Facebook page, claiming they are undermining the spirit of the 5·18 movement. Jang attended the ceremony held at the 5·18 Democracy Square in Gwangju. While he remained silent during the event, he posted on Facebook before and after, targeting President Lee and the Democratic Party. He stated, "While President Lee and the Democratic Party proclaim the spirit of 5·18, they are actually undermining it," adding, "For them, 5·18 is not a value to uphold but merely a tool for expanding their power." He pointed to issues such as the expansion of Supreme Court justices, the introduction of a four-tier judicial system, dedicated trial courts, and the crime of distorting the law, labeling them as "unconstitutional evils rarely seen in a normal liberal democracy." He criticized the 'special investigation into the dismissal of charges' as a declaration of the end of liberal democracy. After the ceremony, he reiterated on Facebook, "The commemorative speech read by President Lee at the 5·18 Democracy Square felt unfamiliar and inappropriate," stating, "I could not applaud even once." Following the memorial, Jang quickly left the venue in a car. This ceremony was his only public schedule for the day. In contrast, Democratic Party leader Jeong Cheong-rae and other party leaders participated in activities such as paying respects at the 5·18 cemetery and holding a central election committee meeting at the site.* This article has been translated by AI. 2026-05-18 16:46:49

HD Hyundai XiteSolution secures forklift orders in Africa, Middle East SEOUL, May 18 (AJP) - HD Hyundai XiteSolution has secured a series of forklift contracts in Africa and the Middle East, expanding its presence in emerging industrial markets. The company said it recently signed a 37 billion won ($25 million) contract with the Algerian government to supply 316 industrial vehicles. The equipment will be delivered to Algeria in stages by August this year. It said it won the large-scale order by proposing equipment suited to Algeria’s local operating environment and highlighting its stable parts supply and service capabilities. The order includes 10-ton, 25-ton and 30-ton forklifts used for loading and transporting heavy cargo at large construction sites, shipyards and ports. The company said the high share of large and ultra-large models is expected to help improve both sales and profitability. The company has also signed forklift supply contracts worth 4 billion won in the Middle East. HD Hyundai XiteSolution received an order for about 50 small and midsized forklifts from an auto parts company in the United Arab Emirates, as well as an order for about 40 units from a logistics operator in Syria. The company said it is expanding its sales channels by targeting major customers in emerging markets with growing infrastructure needs. “This order reflects not only our product competitiveness but also our ability to carry out projects tailored to customer needs,” said Oh Byung-soo, head of HD Hyundai XiteSolution’s industrial vehicle division. “We will continue to secure additional large-scale order opportunities from key global customers.” 2026-05-18 16:45:23

Boryung Begins Supplying Alimta to Taiwan's Lotus, Expanding CDMO Business Boryung announced that it has started supplying the anticancer drug Alimta (active ingredient: pemetrexed) to Taiwan's Lotus Pharmaceutical, marking the expansion of its global contract development and manufacturing organization (CDMO) business. This supply marks the first instance of Boryung's global CDMO operations becoming fully operational. Following the signing of a CDMO contract with Lotus in 2024, Boryung completed quality verification and regulatory procedures before commencing the first supply from its Yesan campus. Boryung's pharmaceutical production facility at the Yesan campus is a smart factory covering 145,097 square meters dedicated to CDMO production. Since its completion in 2019, it has demonstrated global-level production capabilities by obtaining European Union Good Manufacturing Practice (EU-GMP) certification in 2023. The company plans to accelerate the expansion of its global supply of cytotoxic anticancer drugs and its CDMO business. Recently, a shortage of cytotoxic anticancer drugs has become a pressing issue in the global market. Disruptions at major production sites and instability in the supply of active pharmaceutical ingredients have led to shortages of essential anticancer medications, highlighting the importance of securing stable supply chains. Since acquiring Gemza in 2020, Boryung has expanded its portfolio of original anticancer drugs, including Alimta. Last year, it strengthened its anticancer drug portfolio by acquiring the domestic and global business rights for Taxotere. The company emphasizes its advantage in internalizing the production technology of original products within its own facilities. After acquiring the domestic business for Alimta, Boryung has improved the product's competitiveness and profitability by transitioning from a powder formulation to a liquid formulation. The company plans to apply its experience in internalizing production technology and formulation improvement to enhance its competitiveness in the global CDMO market. Kim Sung-jin, Boryung's Chief Strategy Officer (CSO), stated, "The importance of stability in pharmaceutical supply and quality management capabilities is growing in the global market. Based on our global-level production infrastructure and technology, we aim to establish ourselves as a trusted supply partner."* This article has been translated by AI. 2026-05-18 16:45:00

Court partly sides with Samsung ahead of looming labor strike SEOUL, May 18 (AJP) - A local court on Monday ordered labor unions at Samsung Electronics to maintain normal staffing levels at critical semiconductor facilities even if they go ahead with a planned walkout later this week over wages and performance bonuses. Otherwise, they could face massive fines, dealing a major blow to the unions' plans just days before a deadline for their unprecedented level of strike. The Suwon District Court partially granted an injunction sought by management at Samsung Electronics. While the court did not block the strike itself, it ordered that operations essential to disaster prevention, exhaust and drainage systems, and the prevention of semiconductor wafer damage must continue at normal capacity. To enforce compliance, the court set steep penalties: the two major unions could face fines of 100 million won (US$74,000) per day, while union leaders could be fined 10 million won per day, if they disrupt these essential operations through physical force, threats, or internal directives. Following the ruling, the electronics giant issued an internal notice to employees, warning them not to be misled by the union's efforts to downplay the court's order. It also strongly criticized the union's claim that only minimum weekend-level staffing would be required during the strike, saying the court clearly ordered normal staffing levels at key facilities. "The court's ruling clearly requires regular staffing levels, whether on weekdays, weekends or holidays," the company said. "Safety and security operations must be fully maintained." It added that employees in affected departments would be individually notified of their work requirements during the strike, in accordance with the court's order. Now that it has secured key legal protections to ensure uninterrupted semiconductor production, the company said it still prefers to resolve the wage-related dispute through negotiations. "We will continue our efforts to ensure employees' safety and minimize disruptions at production sites," it said. "Regardless of the court's ruling, we will continue working toward an amicable settlement in wage negotiations." Monday's ruling is likely to give the company the upper hand as both sides remain locked in weeks of stalled talks including government-mediated negotiations, just days before the May 21 strike deadline, and may help avert a full factory shutdown. 2026-05-18 16:42:01

Cryptocurrency Exchanges Strengthen Internal Controls Amid Performance Decline Domestic cryptocurrency exchanges, including Upbit, have increased investments in security and monitoring despite a significant drop in first-quarter performance this year. This trend follows a series of hacking incidents and heightened scrutiny from the Financial Intelligence Unit (FIU), which has underscored the need for stronger anti-money laundering (AML) and internal control systems.According to the cryptocurrency industry on May 18, Dunamu, which operates Upbit, reported its first-quarter consolidated research and development expenses at 9.2487 billion won, representing 3.94% of its operating revenue. While the company's operating profit and net income fell by approximately 78% compared to the same period last year, its R&D spending actually increased.The R&D initiatives include technologies for detecting identity fraud in customer verification (KYC), identifying malicious traffic from crawling bots, tracking unusual transactions, and implementing smart contracts that execute automatically upon meeting conditions.Bithumb is also focusing on enhancing its security and AML systems despite poor performance. Although it did not disclose specific R&D expenditure figures, the company announced plans to research system architecture for key security enhancements, implement measures to prevent wash trading, and upgrade its suspicious transaction reporting (STR) system.Additionally, Bithumb reflected a fine of 36.8 billion won imposed by the FIU as a provision for litigation in its first-quarter results. This highlights the operational burdens stemming from regulatory actions. In April, Bithumb faced sanctions from the FIU for violations related to unreported cryptocurrency transactions and customer verification obligations under the Act on Reporting and Using Specified Financial Transaction Information. Consequently, the amount set aside for litigation provisions surged from 2.67918 billion won last year to 39.54668 billion won in the first quarter of this year.The push for enhanced security and internal controls among cryptocurrency exchanges is driven by ongoing hacking incidents and stricter regulations from financial authorities. Notably, the Financial Services Commission announced in March plans to introduce an automatic reporting system for high-value transactions involving overseas exchanges or personal wallets, which has increased the investment burden in related systems. The expansion of corporate participation in the cryptocurrency market has further necessitated the advancement of these systems.Experts believe that as the cryptocurrency market becomes more integrated into the formal financial system, the investment burden for exchanges in security and internal controls will continue to grow. Professor Hwang Seok-jin from Dongguk University’s Graduate School of International Information Security stated, "As new digital asset products like stablecoins and security token offerings (STOs) expand, the security and risk management burdens for exchanges will inevitably increase. While the immediate costs may be high, these investments should be viewed as long-term strategies to enhance the trustworthiness and soundness of exchanges."* This article has been translated by AI. 2026-05-18 16:39:00

Lotte Biologics Expands Partnership with Otimo Pharma for Antibody Drug Development Lotte Biologics is strengthening its position as a strategic partner by expanding its collaboration scope to include development stages. The company aims to establish a comprehensive partnership that spans from initial development to commercialization. This shift from mere production to development collaboration is expected to enhance the likelihood of future commercialization. On May 18, Lotte Biologics announced that it has signed a contract with the UK-based biotech firm Otimo Pharma for the contract manufacturing of antibody drugs. The company previously entered into a contract with Otimo Pharma in June of last year, and this new order marks an expansion of their partnership. The latest agreement includes not only the production of active pharmaceutical ingredients (API) but also process development. Lotte Biologics will be responsible for producing the API for Otimo Pharma's antibody drug, 'Jankistomig,' at its Syracuse Bio Campus in New York. Based at the Syracuse Bio Campus, Lotte Biologics provides CDMO services ranging from cell line development to large-scale contract manufacturing. Additionally, the company plans to establish a 'dual site' production system connecting North America and Asia through its first factory at the Songdo Bio Campus, which is set to be completed in August this year. In March, Lotte Biologics was recognized as the 'Best New & Relaunch CDMO' at the prestigious 2026 CDMO Leadership Awards. James Park, CEO of Lotte Biologics, stated, "We will actively support new drug development based on our CDMO capabilities that encompass process development to commercial production, and we aim to establish ourselves as a trusted partner in the global market."* This article has been translated by AI. 2026-05-18 16:36:12