Youth Future Savings Accounts Offered by 15 Institutions with Interest Rates Up to 8% The 'Youth Future Savings Account,' designed to support asset formation for young people, will be available next month through 15 financial institutions. The maximum interest rate is expected to range from 7% to 8% depending on the institution. On May 14, the Financial Services Commission held an event titled 'The First Step to Filling the Future: Unboxing Talk Concert for Youth Future Savings' at the Small Business Market Promotion Corporation's dedicated training center in Seoul, where it announced the participating institutions and interest rates for the Youth Future Savings Account. This policy financial product combines government contributions with tax-exempt interest income to assist young people in building their initial assets. The participating institutions include major banks such as KB, Shinhan, Woori, Hana, and NH Bank, along with iM Bank and regional banks like Busan, Gyeongnam, Gwangju, and Jeonbuk. New entrants to the program include Suhyup Bank, KakaoBank, Toss Bank, and Korea Post, bringing the total to 15 institutions. The account features a fixed interest rate for three years, starting with a base rate of 5%, plus an additional preferential rate of 2% to 3% depending on the institution. Consequently, the maximum interest rate is projected to be between 7% and 8%. All participating institutions will offer a common preferential rate of 0.5 percentage points for young people with an annual income of 36 million won or less, and an additional 0.2 percentage points for those who complete the 'Financial Counseling for All Youth' program. Considering the government contributions and tax benefits, the effective yield is expected to be even higher. The Financial Services Commission explained that if a participant contributes 500,000 won monthly for three years, they could receive between 21.1 million and 21.38 million won for the standard account, and between 22.27 million and 22.55 million won for the preferential account. This is comparable to the effects of joining a standard savings account with an annual simple interest rate of 13.2% to 14.4%, or a preferential account with rates of 18.2% to 19.4%. The commission also announced improvements to the program. To ensure that young couples who are married are not excluded due to household income criteria, the income requirements will be relaxed for two-person households consisting of the account holder and their spouse. The threshold for the standard account will increase from 200% to 250% of the median income, while the preferential account will rise from 150% to 200%. Additionally, a credit score incentive will be implemented. Young people who maintain their Youth Future Savings Account for more than two years and contribute over 8 million won will receive a credit score boost of 5 to 10 points. If they switch from the Youth Leap Account, the duration and contributions from the previous account will also be considered.* This article has been translated by AI. 2026-05-14 19:18:58

Aribio Signs $4.7 Billion Deal with China's Puxing for Alzheimer's Drug Aribio has successfully secured a global licensing agreement worth approximately 7 trillion won ($4.7 billion) for its oral Alzheimer's treatment, AR1001, with China's Puxing Pharmaceuticals. This marks the largest technology transfer deal in South Korea's dementia treatment sector, with expectations for domestic companies to thrive in a market projected to exceed 70 trillion won by 2030.On May 14, Aribio announced its exclusive licensing agreement with Puxing Pharmaceuticals, which encompasses the development, approval, production, and commercialization of AR1001. The deal covers global market rights excluding South Korea, the Middle East, and Latin America.Upon signing the agreement, Aribio received an upfront payment of $60 million (approximately 90 billion won). Additionally, the company will receive $80 million upon the announcement of top-line results from Phase 3 clinical trials, totaling $140 million (about 210 billion won) in upfront payments. Further milestone payments will be available during the approval and commercialization phases, along with royalties of up to 20%.AR1001 is an oral Alzheimer's treatment classified as a PDE-5 inhibitor, characterized by its multi-target mechanism rather than a single target. It aims to inhibit amyloid and tau pathology while also reducing neuroinflammation, improving cerebral blood flow, and protecting nerve cells.Currently, a global Phase 3 clinical trial involving approximately 1,500 participants is nearing completion in the U.S., Europe, China, and South Korea, with top-line results expected to be released in the second half of this year.An Aribio representative stated, "So far, clinical trials have confirmed safety, blood-brain barrier penetration capability, and potential cognitive function improvement in early patient groups."This agreement is noteworthy in light of the rapidly growing Alzheimer's treatment market. The global market has entered a commercialization phase following the introduction of anti-amyloid antibody treatments such as Eisai and Biogen's Leqembi and Eli Lilly's Donanemab. However, these drugs have faced criticism due to their intravenous administration, safety controversies, and limited efficacy.As a result, there is increasing anticipation for new oral medications with convenient dosing and complex mechanisms. Market research firms project that the global Alzheimer's treatment market, currently valued at around 20 trillion won, will expand to over 70 trillion won by 2030.Jung Jae-jun, co-CEO of Aribio, remarked, "This agreement is a testament to the competitiveness of Korean biotech in the global new drug market, going beyond mere technology transfer."* This article has been translated by AI. 2026-05-14 19:17:46

Rep. Park Hee-seung: AI Marks Turning Point for Pharma and Bio Industries Rep. Park Hee-seung of the Democratic Party of Korea, a member of the National Assembly's Health and Welfare Committee, stated that the global pharmaceutical and biotechnology industries are at a significant turning point driven by artificial intelligence (AI). He explained that AI is enhancing research and development (R&D) efficiency throughout the entire drug development process and is leading to structural changes in the industry. In a written address at the 16th Global Healthcare Forum held on May 14 at the Korea Press Center in Jung-gu, Seoul, hosted by Aju Economy, Park said, "Technological advancements are a key driver facilitating licensing out and mergers and acquisitions (M&A) with global big pharma companies." He emphasized that the K-bio industry must move beyond mere technology validation to establish a comprehensive value chain that attracts capital and enables global expansion. "To secure competitiveness in the rapidly changing global market, strategic policy support and close collaboration among industry, academia, and research institutions are more crucial than ever," he added. As a member of the Health and Welfare Committee, Park pledged to listen to voices from the field, stating, "I will work to create effective policy foundations that allow companies to shorten drug development timelines based on AI technology and successfully enter the global market." He concluded, "I hope today's event serves as an opportunity to seek concrete strategies to enhance the global competitiveness of the K-pharmaceutical and bio industries and for the public and private sectors to pool their wisdom."* This article has been translated by AI. 2026-05-14 19:16:15

Samsung Epise Holdings Accelerates Value Growth with AA ESG Rating and Profit Turnaround Samsung Epise Holdings has received an AA rating from Morgan Stanley Capital International (MSCI) in its first participation in the ESG (Environmental, Social, and Governance) assessment. The holding company also achieved a profit turnaround in the first quarter, bolstered by strong sales of its subsidiary Samsung Bioepis's biosimilars, marking a successful combination of business performance and ESG values.On May 14, Samsung Epise Holdings announced that it earned an AA rating, placing it in the leader group of the MSCI ESG evaluation. This high rating comes after the company publicly shared its management achievements and the ESG activities of its subsidiary, Samsung Bioepis, following its split listing in November of last year.MSCI evaluates publicly traded companies worldwide on environmental (E), social (S), and governance (G) criteria, assigning ratings from AAA to CCC across seven levels. Samsung Epise Holdings received particularly high marks in the social category for its talent management and product safety and quality control.Kim Kyung-ah, CEO of Samsung Epise Holdings, stated, "Achieving a leader rating in our first global ESG assessment is the result of systematically preparing ESG management as a core value since our establishment. We will strengthen our ESG-based sustainable management system alongside the development of patient-centered biopharmaceuticals."Meanwhile, Samsung Bioepis reported first-quarter sales of 454.9 billion won and an operating profit of 144 billion won, reflecting a year-on-year increase of 14% and 13%, respectively. This double-digit growth was driven by solid sales of existing products, such as the biosimilar SB4, which marked its 10th anniversary in Europe, and the impact of new product launches in the United States.The holding company, Samsung Epise Holdings, recorded consolidated first-quarter sales of 453.9 billion won and an operating profit of 90.5 billion won, successfully turning a profit. Following its establishment from the spin-off of Samsung Biologics in November, the holding company had reported sales of 251.7 billion won and an operating loss of 63.6 billion won in its first two months but quickly transitioned to profitability due to the strong performance of its subsidiaries.* This article has been translated by AI. 2026-05-14 19:14:54

SKT and Defense Ministry Collaborate on Defense AI Initiatives The Defense Ministry and SK Telecom (SKT) have joined forces to promote defense artificial intelligence (AI). On May 14, the Defense Ministry, SKT, and the Ministry of Science and ICT signed a memorandum of understanding (MOU) at SKT's headquarters in Euljiro, Seoul, to utilize the ministry's independent AI foundation model in the defense sector. The event was attended by Kim Myung-guk, head of SKT's Industrial AI Division, and Jeon Jun-beom, director of the Defense AI Planning Bureau. The agreement aims to foster collaboration in several areas, including the development and demonstration of defense-specific AI models based on the independent AI foundation model, the collection and provision of open data in the defense sector, and support for GPU utilization linked to national AI projects. This MOU is part of the Ministry of Science and ICT's ongoing independent AI foundation model project, which seeks to accelerate digital transformation in the defense sector. This marks the first time the independent AI foundation model will be applied in defense. Earlier in January, SKT's elite team advanced to the second phase of the independent AI foundation model project with the launch of 'A.X K1,' a super-large AI model exceeding 50 billion parameters. SKT plans to lead the development of defense-specific AI models leveraging its capabilities in large language model (LLM) development and GPU-as-a-Service (GPUaaS) infrastructure. To efficiently operate large AI models, SKT will apply lightweight technology to A.X K1 and K2 and further train them with defense data to create AI models optimized for defense environments. The Defense Ministry will provide SKT with GPU resources secured through the Ministry of Science and ICT's 'National AI Project' in the second quarter of this year. SKT will utilize these resources to develop and demonstrate high-performance AI models and strengthen collaborative frameworks based on national research and development (R&D) infrastructure. Director Jeon stated, "This agreement will enable the rapid development and demonstration of defense-specific AI models based on the independent AI foundation model, marking a significant step forward for defense AI. We will continue to expand collaboration with the private sector." Choi Dong-won, director of AI Infrastructure Policy at the Ministry of Science and ICT, remarked, "This collaboration will be a crucial opportunity for our independent AI technology to be actively utilized in defense. We aim to create a virtuous cycle that revitalizes the domestic AI ecosystem." Kim added, "We will continue to expand AI utilization in sectors where data sovereignty and security are critical, such as finance, manufacturing, healthcare, and public services, to enhance K-AI competitiveness." Meanwhile, the Ministry of Science and ICT plans to conduct the second phase evaluation of the independent AI foundation model project around early August. This evaluation will focus not only on technical capabilities but also on the scalability and applicability of the technology in real-world industrial settings. The elite teams advancing to the second phase include SKT, LG AI Research Institute, Upstage, and Motif Technologies.* This article has been translated by AI. 2026-05-14 19:11:40

Korea Restructures Nuclear Power Export Strategy for Global Competitiveness The South Korean government is consolidating its nuclear power export system into a unified team. Korea Electric Power Corporation (KEPCO) and Korea Hydro & Nuclear Power (KHNP), which previously managed overseas contracts separately, will now collaborate under government leadership to enhance their competitiveness in securing international contracts. On May 14, the Ministry of Trade, Industry and Energy held the first nuclear power export strategy council meeting of 2026 at the Korea Trade Insurance Corporation, where it announced plans to streamline the nuclear power export system. The ministry aims to implement these measures immediately and as ongoing projects throughout the year. As an immediate action, a public-private joint "export planning committee" will be established under the nuclear power export strategy council. The head of the ministry's nuclear strategy planning division will chair the committee, overseeing export negotiations and enhancing economic viability and risk assessment functions. The countries targeted for export, which were previously managed separately by KEPCO and KHNP, will now be integrated into a cooperative management system. While both companies will jointly handle overseas nuclear project development and main contracts, KEPCO will lead external negotiations and equity investments due to its financial strength and recognition, while KHNP will focus on construction and operations. This restructuring aims to reduce overlapping roles and conflicts over leadership. KHNP will take the lead in ongoing projects in the Czech Republic and the Philippines. It will also oversee the export of innovative small modular reactors (i-SMR), which it is currently developing. The ministry also plans to push for the enactment of a proposed "Nuclear Power Export Promotion Act" within the year. This legislation will establish the ministry's supervisory authority over public institutions involved in overseas nuclear projects, provide a legal basis for a central export agency, and create a framework for financial and insurance support. The government's initiative to reorganize the export system is driven by the expanding global nuclear market. Analysts suggest that rising electricity demand and decarbonization policies are renewing the strategic value of nuclear power. The International Energy Agency (IEA) projects that global electricity demand will increase by approximately 40% by 2035 compared to 2024, driven by the growth of artificial intelligence, data centers, semiconductor industries, and the proliferation of electric vehicles. Consequently, the energy mix is also evolving. The IEA forecasts that the combined share of renewable energy and nuclear power in global electricity generation will exceed 50% for the first time by 2030. This indicates a renewed focus on nuclear power as a stable baseload energy source to complement intermittent renewable energy. Major U.S. tech companies like Google, Amazon, and Microsoft are also exploring investments in small modular reactors (SMRs) and power purchase agreements (PPAs) based on nuclear energy to secure carbon-free electricity. Amid these trends, the export competitiveness of South Korean nuclear technology is being reassessed. South Korea has gained recognition in the large nuclear power sector based on its experience in constructing and operating the Barakah Nuclear Power Plant in the United Arab Emirates and its APR1400 technology. Expectations for additional contracts following the recent bidding in the Czech Republic are rising in this context. Minister Kim Jeong-kwan stated, "To effectively respond to nuclear power export issues, we will refine the K-nuclear power team system and strengthen government support through legislation. We will enhance industrial competitiveness and risk management systems under the ministry's leadership to seize opportunities in the global nuclear renaissance." * This article has been translated by AI. 2026-05-14 19:09:59

Firefighters flex for burn victims in Seoul charity bodybuilding contest SEOUL, May 14 (AJP) - Muscles, rescue gear and stage lights filled a Seoul fire academy on Thursday as firefighters stepped briefly away from emergency calls to compete for a place in one of the city’s most unusual charity campaigns. The Seoul Metropolitan Fire and Disaster Headquarters held its 15th annual “Bodybuilder Firefighter Contest” at the Seoul Fire Academy in northwestern Seoul, where 29 firefighters — including 25 men and four women — competed in mandatory posing and freestyle performance rounds. The competition serves a purpose beyond fitness and trophies. Winners are selected as models for the annual “Bodybuilder Firefighter Hope Sharing Calendar,” a charity project that raises funds for severely burned patients struggling with medical expenses. Contestants were judged on muscular balance, conditioning and stage presentation, while freestyle performances incorporated firefighting helmets, hoses and rescue equipment to reflect the realities of emergency work. Lee Sung-woo of the Special Rescue Team won the grand prize and received the Seoul mayor’s award, while Park Sung-hyuk of Jongno Fire Station took the top excellence award. Twelve firefighters in total were selected for this year’s calendar project. The chosen participants will take part in an official photo shoot on May 15, ahead of the calendar’s release on Nov. 9. Proceeds from sales and donations will go toward treatment costs for burn victims. According to Seoul fire authorities, the charity calendar campaign has continued since 2015 and has become one of the department’s signature public outreach projects. Over the past 12 years, it has raised about 1.25 billion won ($900,000) and helped support 302 severely burned patients facing financial hardship. 2026-05-14 19:08:50

Korean Investors Shift Focus from U.S. Stocks Amid Record Domestic Market As the domestic stock market continues to reach all-time highs, South Korean investors, known as "seohakgaemi," who have heavily invested in U.S. stocks, are now shifting to a selling trend. Amid ongoing U.S.-China tensions and geopolitical risks from the Middle East, the U.S. stock market has shown relative weakness this year, while the KOSPI index has gained momentum, raising expectations for the KOSPI to reach 8,000. This has led to a simultaneous movement of funds from U.S. stocks to the domestic market. According to the Korea Securities Depository's Saveuro portal, South Korean investors recorded a net sell of $469 million in U.S. stocks last month. This marks the first time since June of last year that seohakgaemi have turned to net selling on a monthly basis. The selling trend has continued into this month, with net sales of $192 million in U.S. stocks from May 1 to May 13. Previously, individual investors had been purchasing heavily into U.S. tech giants like Tesla and Nvidia, following their upward trends. However, in the past month, profit-taking on these two stocks has shifted the sentiment. During this period, South Korean investors sold a net $432 million in Tesla and $738 million in Nvidia, making these two stocks the top holdings among South Korean investors in the U.S. market. Market analysts suggest that the recent rebound in U.S. tech stocks has prompted domestic investors to realize profits. Despite significant volatility in the U.S. market due to tariff disputes, geopolitical uncertainties, and concerns over prolonged high interest rates, the recovery of certain tech stocks has led investors to cash in on their gains. In the last month, Tesla and Nvidia shares rose by 22.26% and 14.92%, respectively. Additionally, the return of investment accounts (RIA) policy is influencing the flow of funds. To benefit from a 100% exemption on capital gains tax for overseas stocks, investors must complete their sales by May 31, leading to an increase in the movement of overseas investment funds to domestic asset management accounts. There is a growing trend of reinvesting in the domestic stock market after realizing profits from U.S. stocks. Conversely, the domestic market continues its strong upward trend. With increased foreign investment in sectors like artificial intelligence (AI) and semiconductors, the KOSPI has been consistently hitting new highs. Analysts are even discussing the possibility of the KOSPI reaching the 8,000 mark, as individual investor funds rapidly shift towards large-cap domestic stocks and exchange-traded funds (ETFs). A securities industry official noted, "It appears that individual investors who have invested in U.S. tech stocks for an extended period are now realizing profits during this rebound phase. The strong momentum in the domestic market is attracting funds that were relatively undervalued compared to the U.S. market."* This article has been translated by AI. 2026-05-14 19:08:00

Rep. Han Ji-a Calls for Institutional Support to Boost K-Bio's Global Competitiveness Rep. Han Ji-a, a member of the National Assembly's Health and Welfare Committee, emphasized the need for institutional support to enhance the global competitiveness of the K-Bio sector as the pharmaceutical and biotech industries undergo rapid restructuring due to the spread of artificial intelligence (AI) technology. Speaking at the 16th Global Healthcare Forum hosted by Aju Economy at the Korea Press Center in Jung-gu, Seoul, on May 14, Han stated, "AI is bringing revolutionary changes across various industrial structures beyond daily life. The pharmaceutical and biotech industries are also experiencing unprecedented changes in their structures, from research and development (R&D) to clinical trials, production, and distribution, through the integration of AI technology." He noted, "The global pharmaceutical and biotech market is growing at a pace that significantly exceeds that of the global semiconductor market. Following the COVID-19 pandemic, the importance of stabilizing the pharmaceutical supply chain has increased, making technological competitiveness and supply chain leadership critical issues that determine national competitiveness." Han added, "The market is rapidly shifting from simple technological competition to a race to establish stable production capabilities and supply chains. In this context, I find it very meaningful that the forum is being held under the theme 'AI Revolution: Global Value Chain Strategy for K-Bio.'" He particularly highlighted the growth potential of the Contract Development and Manufacturing Organization (CDMO) industry, forecasting that the global CDMO market size will expand from approximately 25 trillion won in 2024 to about 60 trillion won by 2029. He assessed that South Korea possesses sufficient potential based on its world-class manufacturing capabilities and excellent R&D competitiveness. As a member of the Health and Welfare Committee, Han expressed a deep awareness of the importance of the pharmaceutical and biotech industries, stating, "I have introduced a special law to support CDMO to strengthen the competitiveness of domestic biopharmaceutical production, which has successfully passed through the plenary session." In conclusion, he stated, "I will continue to do my best to provide institutional support, such as R&D assistance and regulatory easing, so that our companies can secure competitiveness in a more stable and market-friendly environment amid intensifying global competition."* This article has been translated by AI. 2026-05-14 19:05:54

Trump Warned by Xi on Taiwan Issue During Beijing Meeting Chinese President Xi Jinping issued a strong warning regarding Taiwan during a meeting with U.S. President Donald Trump, stating that mishandling the issue could lead to conflict between the two nations. This meeting marked their first encounter in seven months since the summit in Busan last October. According to China Central Television (CCTV) on May 14, Xi emphasized that the Taiwan issue is the most critical matter in U.S.-China relations during their talks at the Great Hall of the People in Beijing. He noted, "If the Taiwan issue is handled well, U.S.-China relations can maintain overall stability. However, if mishandled, the two countries could collide and even enter a state of conflict, pushing U.S.-China relations into a very dangerous situation." He added, "'Taiwan independence' and peace in the Taiwan Strait cannot coexist like water and fire," underscoring that safeguarding peace and stability in the Taiwan Strait is the greatest common interest of both nations. Xi's remarks on Taiwan were highlighted in a breaking news format by CCTV even before the conclusion of the summit, indicating the importance China places on the Taiwan issue. Analysts suggest that Xi's comments represented a heightened level of concern compared to previous statements. Prior to Trump's visit, China had already defined the Taiwan issue as "the core of China's core interests" and "the first red line in U.S.-China relations," reiterating its sensitivity. An article by Chinese Ambassador to the U.S. Xie Feng, published in the People's Daily, also listed the Taiwan issue first among four red lines, which included democracy, human rights, development paths, and China's right to develop. On the first day of Trump's visit on May 13, the Taiwan Affairs Office of the State Council reiterated its opposition to arms sales between the U.S. and Taiwan, further pressuring the U.S. Shiu Yuren, a senior researcher at the Hudson Institute, interpreted through the Singapore United Daily News that Trump might be testing whether he intends to use the Taiwan issue as a bargaining chip. Trump had previously indicated that he would discuss the Taiwan issue and U.S. arms sales to Taiwan during his meeting with Xi. Given that U.S. arms sales to Taiwan have long been a source of tension in U.S.-China relations, it is expected to be a key agenda item in this summit. Observers are particularly interested in whether Trump will maintain the previous U.S. government's stance of "not supporting" Taiwan independence or adopt the Chinese-preferred phrasing of "opposing it" during his visit. However, after the summit, Trump did not respond to reporters' questions about whether the Taiwan issue was discussed. Experts believe that the likelihood of changes in U.S. policy toward Taiwan, solely based on China's purchases of U.S. soybeans or Boeing aircraft, remains low.* This article has been translated by AI. 2026-05-14 19:03:35