KFA President Chung Mong-kyu Announces Bonus for National Team at World Cup Chung Mong-kyu, president of the Korea Football Association (KFA), has pledged additional bonuses for the national team ahead of the 2026 FIFA World Cup in North and Central America. On June 1, Chung announced through the KFA that he would provide extra rewards as the team progresses through the tournament, stating, "I will donate 1 billion won for reaching the Round of 32, 2 billion won for the Round of 16, and 3 billion won for the quarterfinals." Previously, on May 25, the KFA outlined the bonus structure for the World Cup team. Each player will receive a base payment of 50 million won, with an additional 100 million won for reaching the Round of 32 and 100 million won for each subsequent round they advance. Victory bonuses will also be awarded, with 30 million won for group stage wins (10 million won for draws), 50 million won for the Round of 32, 80 million won for the Round of 16, and 140 million won for the quarterfinals. In addition to the KFA's official rewards, Chung decided to provide these extra bonuses through donations. Chung recently informed head coach Hong Myung-bo and team captain Son Heung-min (LAFC) about the additional donations during a video call. He expressed his hopes for the players, saying, "I wish for the players to unite the nation through their determination to surpass their limits." Meanwhile, Chung announced on May 29 that he plans to step down from his position as KFA president after this World Cup, stating, "I believe supporting the national team to achieve results in the finals is my last duty as president, and I will do my best." Since taking office as the 52nd president of the KFA in 2013, Chung was re-elected for a fourth term last February with a support rate of 85.6%. He intends to submit his resignation after the World Cup concludes on July 19.* This article has been translated by AI. 2026-06-01 14:39:00

Prime Minister Kim Min-seok to Host Dinner with Cabinet Members Amid Resignation Speculations Speculation is growing that Prime Minister Kim Min-seok may resign shortly after the local elections, prompting various interpretations of his upcoming actions. According to political sources on June 1, Kim is scheduled to hold an informal dinner with cabinet members on the evening of June 2 at the Prime Minister's residence in Samcheong-dong, Seoul. Most key figures from the cabinet, including ministers from major departments, are expected to attend. A ruling party official explained, "This dinner is being held to mark the first anniversary of the Yoon Suk-yeol administration." However, some speculate that this gathering could be a 'farewell dinner' in light of Kim's potential resignation. Recent discussions in political circles suggest that Kim may step down from his position to run in the upcoming leadership election of the Democratic Party in August, following the local elections. After casting his vote during early voting at a community center in Yeouido, Seoul, on May 29, Kim responded to inquiries about the resignation rumors by stating, "Today is the day for early voting," and refrained from further comments.* This article has been translated by AI. 2026-06-01 14:36:00

Huhons Group Merger Controversy Escalates to Shareholder Vote The merger controversy between Huhons and Huhons Lab has escalated to a shareholder vote at Huhons Global. This situation exemplifies how the merger strategy employed by companies during a period of declining bio investments can become a sensitive issue regarding shareholder value. Attention is now focused on the extraordinary general meeting scheduled for July. According to industry sources, Huhons Global will hold an extraordinary general meeting on July 3 to gather shareholder opinions on the proposed merger between its listed subsidiary Huhons and the unlisted Huhons Lab. The company is also considering measures to limit voting rights for major shareholders and related parties, indicating that the conflict surrounding the merger is evolving beyond mere stock price concerns to issues of governance and shareholder value. The merger involves Huhons absorbing Huhons Lab, a subsidiary of Huhons Global. The company describes this as a strategic decision aimed at enhancing its research and development (R&D) competitiveness and securing future growth drivers. Huhons Group has recently denied any connection to succession purposes and clarified that there are currently no plans for major shareholder equity transfers. Huhons argues that for Huhons Lab, which is responsible for developing biopharmaceuticals, stable funding is necessary to expedite R&D up to the technology transfer stage. The merger is presented as a way to improve both R&D efficiency and financial stability. Additionally, the company cites the need to increase R&D investments in line with government reforms in drug pricing and the trend toward certification for innovative pharmaceutical companies as justification for the merger. However, market sentiment is lukewarm. There is significant backlash as stakeholders express concerns that the core value of Huhons Lab may shift from Huhons Global, the holding company, to Huhons, the operating company, potentially harming the interests of common shareholders of Huhons Global. In fact, minority shareholders have voiced their opposition to the merger, claiming it represents a "value transfer favorable to the owner." Shareholder platforms Act and Shareholder Alliance have submitted petitions to the Financial Supervisory Service and the Korea Exchange demanding a thorough review. As the controversy grows, Huhons Global has decided to directly seek shareholder judgment. The company has accepted a proposal from a special committee to review the appropriateness of the merger and will collect opinions for and against during the extraordinary general meeting on July 3. The possibility of applying the so-called "3% rule," which limits voting rights for major shareholders and related parties during the appointment and dismissal of audit committee members, is also being considered. This shift indicates that the balance of power in the vote may tilt toward minority shareholders. An industry insider noted, "If shareholder opposition translates into actual voting outcomes, it could halt the group's merger strategy, making the July extraordinary general meeting a turning point. Conversely, if the company successfully persuades shareholders, it could set a precedent for the internalization of R&D assets in the bio industry."* This article has been translated by AI. 2026-06-01 14:33:00

Future Industry Signs $10.26 Million Semiconductor Equipment Supply Deal with Chinese Firm Future Industry has signed a semiconductor inspection equipment supply contract worth 10.26 million dollars with a Chinese company. This year alone, the company has secured 11 contracts, totaling 50 billion won. According to a filing with the Financial Supervisory Service's electronic disclosure system on June 1, Future Industry announced the contract with Chinese firm YILING TRADING, which amounts to approximately 154.2 billion won based on the day's exchange rate. The contract value represents 30.37% of the company's consolidated revenue of 507.8 billion won from the previous year. The contract is set to run until December 15, with payment terms stipulating 70% to be paid before shipment and the remaining 30% upon final approval. As a specialist in semiconductor back-end equipment, Future Industry has been steadily increasing its order intake in the global market. The company has actively pursued sales, announcing 11 single sales and supply contracts this year alone. Notably, on May 27, the company disclosed a contract with Chinese memory semiconductor firm Yangtze Memory Technologies Co. (YMTC) for semiconductor inspection equipment valued at 2.36 million dollars, further expanding its collaboration with clients. Industry experts note that as expectations for a recovery in the global semiconductor market grow, demand for back-end equipment is also gradually increasing. A company representative stated, "This contract exceeds 30% of last year's revenue, and we expect it to positively impact our sales recognition and performance in the second half of the year. We plan to focus on diversifying our overseas clients and enhancing our technological competitiveness to expand our market share globally."* This article has been translated by AI. 2026-06-01 14:33:00

Paris Baguette Opens First Airport Store in the U.S., Surpassing 300 Locations Paris Baguette, a bakery brand under Samidang Holdings, has opened its first airport store in the United States, marking the milestone of surpassing 300 locations in the country. Samidang Holdings announced on June 1 that Paris Baguette has launched a new store at Philadelphia International Airport. This location is the brand's first airport outlet in the U.S. and operates in a grab-and-go format. The store is situated near Gate 8 in Terminal C. Philadelphia International Airport is known as a key hub for North America and Europe, serving over 30 million passengers annually. Paris Baguette has built its expertise by establishing stores in major global airports, including Singapore's Changi Airport, Kuala Lumpur International Airport in Malaysia, Ninoy Aquino International Airport in the Philippines, and Phnom Penh International Airport in Cambodia. Since entering the U.S. market in 2005, Paris Baguette has expanded its operations to 30 states. In 2025, the company's local sales grew by approximately 30% compared to the previous year, achieving profitability. Paris Baguette plans to accelerate its supply chain development across North America by completing a bakery factory in Texas, covering about 28,000 square meters, by 2029. Jin-Soo Heo, Vice Chairman of Paris Baguette, stated, "By opening in an international airport, we can showcase our products and experiences to more customers in the U.S. market. We will continue to accelerate our growth in the U.S. and North American markets and strengthen our position as a global bakery brand." Additionally, Paris Baguette operates over 730 global stores across 15 countries, including the U.S., Canada, France, the U.K., China, Singapore, Vietnam, Indonesia, Malaysia, the Philippines, and Mongolia. Recently, the brand also received official halal certification from Indonesia's Halal Product Assurance Agency (BPJPH) for all 23 of its local stores.* This article has been translated by AI. 2026-06-01 14:27:00

Nvidia CEO Jensen Huang to Visit Naver's Headquarters Amid AI Collaboration Talks Jensen Huang, CEO of Nvidia, is expected to visit Naver's second headquarters, known as '1784', on June 8 during his trip to South Korea this week. According to the IT industry on June 1, Huang plans to visit South Korea after attending the 'GTC Taiwan 2026' event. He is currently in discussions with Naver about visiting the 1784 building in Bundang, Seongnam, which houses advanced technologies such as robotics, cloud computing, digital twins, and 5G networks. Before his visit to Naver, Huang is set to meet with Lee Hae-jin, Chairman of Naver's board, on June 5. If the meeting occurs, it is expected that they will discuss collaboration on physical AI and Sovereign AI initiatives. Industry sources indicate that the two companies have been exploring collaboration opportunities centered around Sovereign AI. Additionally, as Naver has established a dedicated defense AI organization starting today to target the security market, there is keen interest in how far the two companies can expand and solidify their AI infrastructure partnership. In March, Lisa Su, CEO of AMD, visited Naver's 1784 headquarters to discuss AI infrastructure collaboration with Naver's CEO Choi Soo-young. At that time, Naver and AMD signed a memorandum of understanding (MOU) to expand the AI ecosystem and collaborate on next-generation infrastructure. Naver stated that it is currently difficult to confirm the specifics of Huang's visit and the potential meetings. Meanwhile, if Huang visits South Korea, there is speculation about possible meetings with prominent business leaders, including Chey Tae-won, Chairman of SK Group, Chung Eui-sun, Chairman of Hyundai Motor Group, and Koo Kwang-mo, Chairman of LG Group.* This article has been translated by AI. 2026-06-01 14:27:00

Samsung Electronics' market cap surpasses 2 quadrillion won SEOUL, June 1 (AJP) - Samsung Electronics on Monday became the first South Korean company to top 2 quadrillion won in market capitalization, driven by surging investor enthusiasm over the ongoing AI-driven chip boom. Shares of the tech giant surged 10.25 percent to 349,500 won as of 1:40 p.m. on the benchmark KOSPI, hitting an intraday high and pushing its market capitalization to 2,041.8 trillion won (US$1.51 trillion). Samsung first crossed the 2 quadrillion won mark at around 11:40 a.m., when shares were up 9.31 percent at 346,500 won. The rally then gathered pace through the afternoon, adding more than 16 trillion won to its valuation in just two hours. The surge widened Samsung's lead over closest rival SK Hynix, whose shares rose 1.67 percent to 2,372,000 won, valuing the company at 1,693.38 trillion won (US$1.25 trillion) and leaving it roughly 348 trillion won (US$258 billion) behind Samsung. 2026-06-01 14:25:46

NVIDIA CEO Jensen Huang Expected to Visit South Korea on June 5 NVIDIA CEO Jensen Huang is expected to visit South Korea this week, drawing attention to the possibility of a second "Kangbu" meeting with major business leaders. This would be the first engagement with the South Korean business community since a gathering last year that included Samsung Electronics Chairman Lee Jae-yong and Hyundai Motor Group Chairman Chung Eui-sun, approximately seven months ago. According to industry sources on June 1, Huang is likely to arrive in South Korea on June 5 after completing his schedule at Computex 2026 and GTC Taipei. His visit is expected to include meetings with Naver Chairman Lee Hae-jin, LG Group Chairman Koo Kwang-mo, Hyundai Motor Group Chairman Chung Eui-sun, and Doosan Group Chairman Park Jeong-won. Industry insiders believe that the focus of these meetings may shift from discussions on AI semiconductor supply chains to broader topics such as physical AI, robotics, sovereign AI, and AI data center collaborations. Potential discussions with Naver could center on AI infrastructure and sovereign AI cooperation, while talks with Hyundai may involve autonomous driving and robotics, discussions with LG could focus on AI home appliances and automotive electronics, and meetings with Doosan might cover robotics and power infrastructure. The shared schedule indicates Huang's visit on June 5, along with meetings with Naver's Lee Hae-jin, LG, Hyundai, and Doosan Group. Additionally, he is expected to throw the first pitch for the Doosan Bears on June 7 and visit Naver's 1784 office on June 8, suggesting a busy agenda with South Korean companies. However, details of the schedule remain fluid. Notably, Lee Jae-yong's participation in the meetings may be uncertain due to overseas travel commitments. Huang's swift travel to South Korea following his Taiwan schedule underscores NVIDIA's need for close collaboration with the South Korean AI ecosystem. An industry source remarked, "While last year's Kangbu meeting was symbolic, this visit could serve as a platform to expand actual cooperation. For NVIDIA, it will be an opportunity to assess the capabilities of South Korean companies in memory, automotive electronics, robotics, and AI services all at once."* This article has been translated by AI. 2026-06-01 14:21:00

Support for Small Businesses Essential for Large Corporations, Woori Bank Launches 'Productive Business Succession' Woori Bank is launching a 'productive business succession' initiative that goes beyond simple succession support to preserve employment, technological capabilities, and supply chains. With the increasing importance of financing for small and medium-sized enterprises (SMEs) under the government's productive finance policy, the bank aims to accelerate consulting and merger and acquisition (M&A) financing for these businesses.Jung Jin-wan, CEO of Woori Bank, stated at a press conference on productive business succession on June 1 that, "In South Korea, where manufacturing plays a significant role, if the succession issues of SMEs are not resolved smoothly, large corporations will inevitably be affected. We plan to view business succession as a long-term project, managing it for at least the next 10 years, which aligns with the expansion of productive finance."Jung predicted that stable business succession would contribute to preserving technological capabilities, maintaining employment, and stabilizing industrial supply chains. Woori Bank plans to invest a total of 3 trillion won in support of productive business succession over the next five years.The focus on business succession comes as many SMEs approaching the retirement of their founders face challenges in this area. Among the 740 companies that Woori Bank's Business Succession Support Center has signed memorandums of understanding (MOUs) with, over 80% have annual revenues of less than 50 billion won. More than half of these companies are considering second-generation succession but lack information on related systems, such as the business inheritance tax exemption. As a result, it is estimated that 17% of companies with over 10 years of operation fail to succeed and end up closing down.Woori Bank plans to expand its support beyond simple business succession consulting to include M&A, employee buyouts (EBO), and management buyouts (MBO). With an increasing number of cases where founders' children do not wish to take over, demand for EBOs and MBOs is expected to rise.To achieve this, the bank's Business Succession Support Center will collaborate with Kim & Chang law firm, Samil PwC, and the Korea Technology Finance Corporation to provide tailored succession consulting to over 2,500 companies in the next five years, aiming for 500 consultations annually.According to the Woori Financial Management Research Institute, if Woori Bank successfully supports 100 companies each year for the next five years, it could lead to significant economic impacts, including maintaining 10,000 jobs, preserving 10.7 trillion won in sales, generating 469.9 billion won in production effects, and creating 193.4 billion won in value-added effects.Woori Bank also expects to secure new sources of commission revenue through participation in acquisition financing. The domestic M&A market currently sees about 40 trillion won in transactions annually, with around 400 deals, of which SMEs account for 80% of the number of transactions and approximately 12 trillion won in value.Hong Seung-hwan, a partner at Samil PwC, noted, "There are over 5,000 companies that can act as strategic investors, indicating a sufficient market for acquirers. With 60% of SMEs lacking succession plans, the business succession market is expected to continue growing." 2026-06-01 14:21:00

Fubon Hyundai Life Partners with Leaders Asset for Strategic Investment Amid a shift towards corporate insurance agencies (GA) as the primary sales channel, Fubon Hyundai Life has formed a strategic partnership with mid-sized GA Leaders Asset Advisor. On June 1, Fubon Hyundai Life announced that it has signed a strategic investment agreement with Leaders Asset Advisor. The two companies aim to diversify their product portfolio and enhance customer service competitiveness through this partnership. They will also work together to improve consumer protection systems. Leaders Asset Advisor, established in 2002, is recognized as a mid-sized GA with significant market influence, leveraging its expertise in insurance sales, organizational strength, and sales management systems. Fubon Hyundai Life plans to strengthen strategic partnerships within the GA market and continuously seek collaborative opportunities as a result of this agreement. Lee Jae-won, President of Fubon Hyundai Life, stated, "In response to changes in insurance sales channels, we will enhance customer-centric values and explore various collaboration opportunities to meet customer demands." 2026-06-01 14:21:00