Financial Sector Expands Bug Bounty Program, Offering Up to 10 Million Won for Reports 금융감독원과 금융보안원이 금융권 보안취약점 신고포상제, 이른바 ‘버그바운티’를 올해 대폭 확대한다. 가상자산사업자와 법인보험대리점(GA)까지 참여 대상을 넓히면서 점검 대상 금융회사는 지난해 32개사에서 올해 70개사로 두 배 이상 늘었다. On May 18, the Financial Supervisory Service and the Financial Security Agency announced a significant expansion of their bug bounty program aimed at identifying security vulnerabilities in the financial sector. The program will now include virtual asset providers and corporate insurance agencies (GA), increasing the number of participating financial institutions from 32 last year to 70 this year. The joint initiative, titled the “2026 Financial Sector Security Vulnerability Reporting Reward Program,” aims to proactively identify and address security weaknesses in digital financial services operated by financial companies. Under the bug bounty program, external participants, including white-hat hackers, can report newly discovered security vulnerabilities on financial company websites, mobile apps, and home trading systems (HTS) to receive rewards after evaluation. This year, the scope of participation has expanded to include not only traditional financial institutions such as banks, investment firms, and insurance companies but also virtual asset providers and GAs. As a result, the number of services eligible for vulnerability detection has increased to 306 across 70 companies, representing a 119% increase from the previous year. Eligible participants must be South Korean citizens and can apply through the Financial Security Agency’s “Financial Sector Software Supply Chain Security Platform” until August 31. The vulnerability reporting period runs from June 1 to August 31, and rewards of up to 10 million won will be given for each reported vulnerability after evaluation. Additional incentives will be provided to outstanding reporters. Financial authorities have noted that the need for security assessments is growing due to the increased use of artificial intelligence (AI), cloud transitions, and the spread of open-source software development in the financial sector. The initiative aims to enable financial companies to proactively respond to cyber threats by identifying unknown vulnerabilities early through the involvement of external experts.* This article has been translated by AI. 2026-05-18 14:12:27

Court Limits Samsung Electronics Union's General Strike, Mandates Wafer Management A court has imposed restrictions on the general strike planned by the Samsung Electronics Union. The Suwon District Court ruled that, considering the nature of semiconductor processes, wafer management and safety-related tasks must be maintained at normal levels even during strike actions. This decision comes as the union has announced a general strike starting on May 21, and it is expected to impact ongoing labor negotiations. On May 18, the court's Civil Division 31, led by Chief Judge Shin Woo-jung, partially granted an injunction filed by Samsung Electronics against the Samsung Electronics branch of the Samsung Group Corporate Labor Union and the National Samsung Electronics Labor Union, prohibiting illegal strike actions. The court stated that the union is obligated to maintain staffing levels, operating hours, and operational scale equivalent to normal weekdays or weekends during the strike period. It also recognized the disaster prevention and drainage facilities claimed by Samsung as safety protection facilities under labor law, noting that failure to maintain these facilities could pose significant risks of explosion or toxic gas leaks. The court classified wafer management tasks as essential security operations that cannot be halted during a strike. These security operations include managing internal piping, handling cleaning agents for mask cleaning equipment, monitoring wafer discharge and congestion, overseeing process defects, and managing AI center systems. The court explained that due to the continuous operation of the semiconductor process and the characteristics of wafers, any delay in subsequent processes could lead to significant risks of wafer degradation. It warned that even temporary shutdowns could result in substantial losses, including yield declines and reactivation costs. The court pointed out that even if wafer-related tasks are based on active production activities, a halt in these tasks could lead to the degradation or spoilage of raw materials and products, which the labor law aims to prevent. In response to the union's demand to halt the input of new wafers, the court noted that this implied a stance of "If we strike, reduce our workload, and then there will be no issues," which directly infringes on the employer's freedom to operate and business rights. Considering Samsung's significant role in the global semiconductor supply chain, the court stated that damage to facilities or degradation of raw materials and products could lead to production delays in related industries such as automotive, home appliances, and information technology. This could result in significant harm or imminent risks that cannot be remedied through monetary compensation. The court also prohibited the Samsung Electronics branch of the corporate union and its head, Choi Seung-ho, from occupying or locking down facilities or obstructing worker access. However, it did not accept a separate injunction request against the National Samsung Electronics Labor Union and its acting chair, Woo Ha-kyung. Samsung's requests to prohibit member intimidation, calls to participate in the strike, and to prevent interference with employees were denied. The court ordered indirect coercion in case of violations of its decision. If the union violates the obligations to maintain safety protection facilities and security operations or the prohibition against occupation, it will be required to pay 100 million won per day for violations, while Choi and Woo will each owe 10 million won. This ruling is seen as imposing some restrictions on the union's general strike methods. However, as the strike itself is not limited for members outside of key process personnel, the potential for production disruptions remains. Meanwhile, Samsung Electronics and the union are engaged in last-minute negotiations under the mediation of the Central Labor Relations Commission on the same day. The union has announced its intention to begin the general strike on May 21.* This article has been translated by AI. 2026-05-18 14:09:56

Kookmin University undergraduate's AI paper accepted at ICML 2026 SEOUL, May 18 (AJP) - An undergraduate student in South Korea has authored a research paper on artificial intelligence that has been accepted for presentation at the 43rd International Conference on Machine Learning, Kookmin University said Monday. Kim Min-woo, a senior in the university's software program, is the first author of the paper titled "Memory as Dynamics: Learning Reliability-Guided Predictive Models for Online Video Perception." The research introduces a framework for online video perception that interprets memory as a dynamic system rather than a static storage unit. By applying a reliability-guided predictive model, the system processes temporal information within video sequences to improve accuracy and efficiency. The model dynamically estimates the reliability of each video frame and incorporates this assessment into its memory updates and predictions. This process allows the system to maintain stable recognition performance even when the video feed contains noise or visual obstructions. The method demonstrated improved performance across various online video benchmarks when compared to existing techniques. The framework has potential applications in fields that rely on real-time visual recognition, including autonomous driving, robotics and intelligent video understanding. Kim's research was supported by the National Research Foundation of South Korea (NRF) and the Institute of Information and Communications Technology Planning and Evaluation (IITP). "I wanted to untangle the relationship between memory and prediction from a new perspective," Kim said. "It is very meaningful that the research I conducted during my undergraduate studies has been recognized for its achievements at a world-class academic conference. I want to continue practical AI research that can contribute to solving real-world problems." 2026-05-18 14:08:56

HD Hyundai Marine Solutions to Maintain Power Engines at U.S. Data Centers HD Hyundai Marine Solutions, a comprehensive solutions provider in the marine industry, is entering the North American data center power solutions market. The company announced on May 18 that it has signed a memorandum of understanding (MOU) with Aperion Energy Group (AEG) for the maintenance of power engines at data centers. Under this agreement, the two companies will establish a cooperative system for the long-term maintenance and operation of 33 power engines at a data center being built by AEG in Texas. Earlier, in April, HD Hyundai Heavy Industries signed a supply contract with AEG for a 684-megawatt (MW) power generation facility based on the 20 MW HiMSEN engine. With the rapid advancement of artificial intelligence (AI) technology, the power consumption of data centers has surged, making the reliability of backup and commercial power supply systems a key factor in the efficient operation of these facilities. HD Hyundai Marine Solutions aims to leverage its collaboration with AEG to showcase the proven performance of the HiMSEN engine and its superior engine maintenance technology, thereby expanding its market share in North America. Notably, the cooperation between the two companies is expected to go beyond simple engine supply to include long-term service agreements (LTSA) and operation and maintenance contracts (O&M), allowing HD Hyundai Marine Solutions to establish a robust high-value service revenue model that generates continuous income. Industry observers note that HD Hyundai is expanding its business scope into the land-based data center power infrastructure market, building on its existing shipbuilding and marine engine technology. The company is accelerating its efforts to strengthen a stable recurring revenue base by securing long-term contracts that include maintenance and operational services. A representative from HD Hyundai Marine Solutions stated, "With the explosive growth of the AI industry, the demand for power is surging, highlighting the importance of meticulous maintenance services for data center power engines more than ever. Through this collaboration, we will demonstrate our AM Solutions capabilities and seize new demand related to data centers in the North American market."* This article has been translated by AI. 2026-05-18 14:02:18

China's Economy Faces Triple Slowdown Amid Middle East Crisis China's economy has shown signs of significant deterioration in consumption, production, and investment due to a surge in energy prices and raw materials stemming from the crisis in the Middle East. April retail sales growth hits lowest level since zero-COVID policy ended Retail sales, a key indicator of domestic economic activity, recorded a mere 0.2% increase in April, reaching 3.7247 trillion yuan. This figure is the lowest since the end of China's strict zero-COVID policy in December 2022, when retail sales fell by 1.8%. The growth rate fell short of March's 1.7% increase and the market expectation of 2%. After a decline that began in May of last year, retail sales growth had shown signs of recovery earlier this year but has now slowed again due to the Middle East crisis. Production and investment indicators also showed a uniform decline. Industrial production increased by 4.1% year-on-year, significantly lower than March's 5.7% growth and below the 5.5% forecast by Trading Economics. Fixed asset investment, another key driver of China's growth alongside exports and consumption, fell by 1.6% year-on-year for the January to April period, marking a return to negative growth for the first time in four months since December. Notably, investment in real estate development dropped by 13.7% compared to the same period last year, worsening from an 11.2% decline in the first quarter. However, the urban unemployment rate improved slightly to 5.2% in April, down from 5.4% in March. The National Bureau of Statistics of China stated, "The external environment remains complex and volatile, while domestic supply is relatively strong but demand is weak, causing operational difficulties for some businesses. We must further solidify a stable and positive foundation for economic recovery." Middle East energy shock tests domestic stimulus strategy Following the release of the April economic indicators, Bloomberg reported that none of the economists surveyed had anticipated such pessimistic data on consumption, production, and investment. Zhang Zhiwei, chief economist at Pinpoint Asset Management, noted, "Economic activity in April was weaker than market expectations. While strong performance from exporters somewhat mitigated domestic weakness, it was not enough to fully offset it." The shadow of the Middle East crisis was also evident in April's inflation data. The producer price index (PPI) rose to its highest level in 45 months due to energy price shocks, raising concerns about increased cost burdens for businesses that could lead to declining profitability in manufacturing and further contraction in domestic demand. Conversely, China's exports in April significantly exceeded market expectations despite the Middle East crisis. A surge in global demand for artificial intelligence-related products and stockpiling orders in response to rising costs due to the war contributed to this rebound. Furthermore, with U.S. President Donald Trump's upcoming visit to China this month, stable trade relations between the two countries are anticipated, suggesting that China's exports may continue to perform well this year. While China's strong export performance has partially offset the direct impact of the war in Iran, the pressure on manufacturing costs due to rising oil prices is becoming increasingly significant. As a result, the Chinese leadership's strategy to shift from an export-driven growth model to one focused on domestic consumption is now being tested in light of these Middle Eastern developments.* This article has been translated by AI. 2026-05-18 14:00:06

Half of Regional Production Concentrated in Capital Area as Semiconductor Ties Strengthen The capital area accounts for 48.6% of the total supply and use of goods and services in South Korea, highlighting its central role in the national economy. A recent study found that Seoul, which is service-oriented, and Gyeonggi Province, which focuses on manufacturing, form a closely complementary industrial structure. Additionally, Chungcheongnam-do and Gyeonggi-do are increasingly interconnected through the semiconductor industry. On May 18, the National Data Office unveiled the "2023 Regional Supply and Use Table," which details the goods and services supplied and consumed in the regional economy over a specific period. This table illustrates the flow of supply chains, showing where products produced in specific regions are primarily consumed. As of 2023, the total output of regional production was 5,646.6 trillion won, with the capital area contributing the highest share at 48.6%. Gyeonggi Province led in exports at 25.8% and imports at 23.7%, while Seoul, Gyeonggi, and Chungcheongnam-do were the top regions for inter-regional exports. During the survey period, the southeastern region accounted for 16.7% of total supply and use, emerging as an export-oriented area centered around Ulsan and Gyeongsangnam-do, exporting machinery, transportation equipment, and petrochemical products. The central region, excluding the capital area, ranked third in total supply and use, identified as a key manufacturing hub. It recorded the highest volume of goods entering and leaving the region, with electrical, electronic, and precision instruments, as well as petrochemical products from Chungcheongnam-do and Chungcheongbuk-do, moving throughout the domestic supply chain. Lim Kyung-eun, head of the Economic Statistics Planning Division at the Data Office, stated, "The flow of goods is actively occurring between regions with a high manufacturing share centered around Gyeonggi Province. In terms of services, the flow is concentrated in Seoul and Gyeonggi, while in non-capital areas, exports are made from regional hubs to surrounding areas." The share of regional production compared to total supply was highest in Seoul at 68.4%, followed by Jeju at 65.3% and Gyeonggi at 64.4%. Ulsan, Jeollanam-do, and Chungcheongnam-do ranked highest in imports, particularly for raw materials like crude oil. Analysis of regional specialization revealed that Gangwon Province excels in mining, Jeju in agriculture and fisheries, and Sejong in public administration. By region, the capital area leads in information and communication technology, while the southeastern region excels in machinery, transportation equipment, and other sectors. Trade patterns indicate that Seoul has a high volume of exports to other regions, while Ulsan's exports drive a net outflow, resulting in a trade surplus of 106.3 trillion won for the capital area and 12.1 trillion won for the southeastern region.* This article has been translated by AI. 2026-05-18 13:57:24

Domestic Ultra-Pure Water Supply Begins for Semiconductor Manufacturing The South Korean government is accelerating the domestic production of ultra-pure water, a critical component in semiconductor manufacturing processes. The domestically developed ultra-pure water production technology is now being applied in actual semiconductor manufacturing sites, raising expectations for stabilizing the advanced industry supply chain and enhancing the competitiveness of the domestic water industry.The Ministry of Climate Energy and Environment announced on May 19 that it will hold a performance utilization agreement ceremony for the "High-Purity Industrial Water (Ultra-Pure Water) Production Localization Technology Development Project" at SK Siltron's Gumi facility in North Gyeongsang Province.Ultra-pure water is industrial water with impurities removed to extremely low levels, essential for cleaning contaminants from semiconductor surfaces. This requires advanced technology to manage ion concentrations in water below 1 ppt (parts per trillion) and gas concentrations, such as dissolved oxygen, below 1 ppb (parts per billion).Until now, foreign companies from Japan and the United States have dominated the production technology, leaving South Korea's semiconductor, display, secondary battery, and bio industries heavily reliant on overseas technology.In response, the Ministry has been promoting the localization of ultra-pure water production technology since 2021 to reduce this dependency and strengthen the competitiveness of the domestic water industry.The demonstration facility features domestic technology applied throughout the entire process, from design to construction and operation. It has been installed at SK Siltron's Gumi facility, where it has successfully undergone performance verification in an actual manufacturing environment.Notably, key devices and materials developed by domestic companies for ultra-pure water production, including organic matter removal (UV oxidation equipment), dissolved oxygen removal (degasification membrane), ion removal, and water quality enhancement (ion exchange resin), have been utilized. The Ministry reports that long-term operational results have also been secured.The ultra-pure water produced through this technology transfer will supply SK Siltron's semiconductor wafer production process in Gumi. This marks the first time ultra-pure water produced using domestic design technology will be supplied to an actual semiconductor manufacturing process.Industry experts view this development as significant for establishing a foundation for domestic companies to enter the ultra-pure water market, as semiconductor wafers are highly sensitive to even trace amounts of impurities, making a stable supply of ultra-pure water essential.The government expects that this achievement will enhance the stability of the supply chain in the ultra-pure water sector, which has long relied on foreign technology, and contribute to the technological competitiveness and industrial ecosystem expansion of domestic water companies.Additionally, to proactively address the shortage of industrial water due to climate change and establish a stable ultra-pure water supply system, the government plans to promote the localization of the entire ultra-pure water production process and develop technology for diversifying raw water sources through wastewater reuse.Kim Ji-young, Director of Water Utilization Policy at the Ministry, stated, "This technology transfer is an important achievement that goes beyond the localization of ultra-pure water technology to actual industrial application. Large-scale investments in advanced industries, such as semiconductors, will lead to the development of the domestic water industry, including ultra-pure water."* This article has been translated by AI. 2026-05-18 13:55:30

Increase in Banner Installation Ahead of Local Elections; Labor Ministry Urges Safety Compliance As the nationwide local elections approach in two weeks, labor authorities are urging candidates to take precautions against accidents that may occur during the installation and removal of campaign banners. According to the Ministry of Employment and Labor on May 18, a surge in banner work is expected ahead of the June 3 local elections, the ninth of its kind. Each candidate is allowed to post banners up to twice the number of administrative districts they represent. In cases where electoral districts overlap, the total number of banners must be allocated according to the established regulations for each election. This means that with 7,829 candidates registered for this election, there could be a significant number of banners displayed. Particularly, the installation and removal of banners often involve working from rooftops, ladders, or aerial work platforms, which increases the risk of falls. Given that these activities are concentrated and competitive during the election campaign period, thorough preparations are essential. In fact, following the eighth nationwide local elections in 2022, there were a total of 350 industrial accidents related to banner work, with fall-related incidents accounting for 49.4% (173 cases) of the total. In response, the Labor Ministry has urged candidates to pay special attention to preventing accidents during banner installation and removal. They have posted key accident cases and a safety checklist on their website and sent guidance text messages to registered candidates. The ministry emphasized the importance of adhering to basic safety measures, including: wearing protective gear such as helmets during work, conducting pre-checks on equipment like ladders and aerial work platforms, securely stabilizing ladders to prevent falls, prohibiting movement while on elevated platforms, and deploying traffic controllers during road work. Oh Young-min, Director of the Safety and Health Supervision Bureau at the Labor Ministry, stated, "The installation and removal of banners carry a high risk of falls, and a moment of negligence can lead to serious accidents. It is crucial that basic safety rules are followed during the election campaign to prevent accidents."* This article has been translated by AI. 2026-05-18 13:52:00

South Korea to Revamp Battery Recycling Certification System Ahead of 2027 Launch The South Korean government is set to improve its battery recycling standards and regulations ahead of the introduction of a certification system for recycled battery materials in 2027. This initiative will include not only waste batteries but also byproducts and defective products from manufacturing processes as eligible for certification. The aim is to enhance the competitiveness of the critical mineral supply chain by updating the recycling standards for black mass. The Climate Energy Environment Ministry announced that it will hold a briefing on May 19 at the LW Convention Center in Jung-gu, Seoul, to explain the operational plan for the 'Battery Recycled Material Production Certification System' and the proposed improvements to recycling standards. In April, the National Assembly passed the 'Act on the Management and Industrial Promotion of Used Batteries,' paving the way for the certification system to be fully implemented starting in May 2027. Under this system, the Climate Ministry will certify the production of recycled materials, while the Ministry of Trade, Industry and Energy will verify the use of recycled materials in batteries. To expand the scope of recyclable resources, the Climate Ministry plans to include not only waste batteries but also byproducts and defective products from manufacturing processes in the certification criteria. The ministry also aims to ensure the objectivity and credibility of the certification process through document reviews and on-site inspections. A pilot project will begin in June to refine the certification methodology, with operational guidelines expected to be established by December to facilitate the early implementation of the system. A key focus of the improvements will be strengthening the management system for black mass, an intermediate product made from crushing waste batteries and manufacturing scraps. Black mass contains high concentrations of valuable metals such as nickel, cobalt, and manganese. Currently, black mass is recognized as a metal raw material rather than waste if it meets certain recycling standards. However, the growing demand for various raw materials due to the increased use of batteries in small electronic devices like laptops and smartphones has led to calls for system improvements. The National Institute of Environmental Research has analyzed various black mass samples used by domestic recycling companies to assess the content of valuable metals and impurities, as well as quality control practices, and has developed improvement proposals based on these findings. The proposals include changing the existing 'nickel content-focused' standard to a 'combined nickel and cobalt standard.' This change is expected to broaden the economic value recognition of various waste battery resources, including those from small electronic devices. Additionally, a new 'fluoride item' will be introduced to indirectly verify the removal of unnecessary byproducts, such as binders and electrolytes, enhancing administrative transparency in the import and distribution processes of raw materials. The Climate Ministry also plans to encourage the domestic priority use of black mass and allow essential processing steps such as sintering and drying to support stable raw material procurement and operational flexibility for recycling companies. Industry experts anticipate that the certification system will play a positive role in enhancing the international competitiveness of domestic recycling companies, especially as the European Union's battery regulations come into effect. With the stability of the battery raw material supply chain emerging as a key factor in global industrial competitiveness, the expanded use of recycled materials is expected to contribute to the sustainability of South Korea's battery industry. Kim Go-eung, Director of the Resource Circulation Bureau at the Climate Ministry, stated, "The recycled material certification system and the rationalization of recycling standards will help strengthen the critical mineral supply chain and promote the development of the recycling industry. We will continue to improve the system by reflecting the voices of companies engaged in the recycling of waste batteries."* This article has been translated by AI. 2026-05-18 13:48:05

Korea's Fair Trade Commission Fines Top 5 Delivery Companies $30.8 Million for Unfair Practices The top five delivery companies in South Korea have been penalized by the Fair Trade Commission (FTC) for repeatedly abusing their power over subcontractors. With these companies controlling over 90% of the domestic delivery market, the sanctions are seen as a significant step toward addressing unfair practices across the industry. On May 18, the FTC announced that it would impose a total fine of 3.08 billion won (approximately $30.8 million) on five delivery firms—Coupang Logistics Service, CJ Logistics, Lotte Global Logistics, Hanjin, and Logen—for establishing unfair contract terms and failing to issue written contracts when outsourcing services. The FTC, in collaboration with the Ministry of Employment and Labor and the Ministry of Land, Infrastructure and Transport, conducted surprise inspections last August due to concerns that unfair subcontracting practices in the delivery sector were contributing to safety incidents, including heat-related illnesses among workers. The current investigation is based on findings from those inspections. According to the FTC, the five delivery companies hold a combined market share of 90.5%. They leveraged their dominant position to impose unfair subcontracting conditions, including clauses that shifted liability for safety incidents to subcontractors, retained interest earnings during cash collateral periods, and required subcontractors to compensate for damages resulting from disputes. The number of identified unfair contract clauses included 1,155 cases for Coupang, 2,306 for CJ, 3,609 for Lotte, 1,664 for Hanjin, and 452 for Logen. The fines related to these unfair clauses were 567 million won for Coupang, 540 million won for CJ, 483 million won for Lotte, 546 million won for Hanjin, and 378 million won for Logen. Kim Dong-myung, head of the FTC's New Business Subcontracting Investigation Division, noted that Coupang's failure to adequately amend contracts after being flagged contributed to its penalty. In contrast, Lotte cooperated during the investigation and made necessary corrections, resulting in a reduction of its fine. The investigation also revealed that the five delivery companies failed to comply with the requirement to issue written contracts. The FTC explained that issuing written contracts detailing subcontracting terms is essential to prevent unnecessary disputes between contracting parties. These companies did not issue written contracts for a total of 2,055 agreements related to collection, delivery, and logistics terminal operations until the start of service. In some cases, such as Lotte, contracts were issued only after 761 days. As a result, the FTC decided to impose a fine of 600 million won for violations related to the failure to issue written contracts, excluding Logen. The fines for non-issuance of contracts were 192 million won for Coupang, 108 million won for CJ, 150 million won for Lotte, and 150 million won for Hanjin. Kim stated, "Subcontractors had no choice but to comply with unreasonable clauses to meet performance targets. This decision is expected to improve the unfair practices faced by subcontractors and alleviate their workload." 2026-05-18 13:42:28