Hanshin Engineering Breaks Ground on Ulsan Tram Project Following Wirae Tram Success Hanshin Engineering is expanding its presence in the future transportation infrastructure market by launching the Ulsan hydrogen electric tram project, following the successful Wirae Tram initiative, which is Korea's first tram project. On May 14, Hanshin Engineering announced that it has signed a contract with the city of Ulsan for the Ulsan Urban Railway Line 1 hydrogen electric tram project and has begun construction on the initial phase. The Ulsan Urban Railway Line 1 will connect Taehwa River Station to Sinbok Intersection, covering a total length of 10.85 kilometers with 15 stations. The project has a total budget of approximately 381.4 billion won, with a target completion date set for the end of 2029. This project will utilize Korea's first 'wireless hydrogen electric tram' system. By employing hydrogen fuel cells for operation without overhead wires, the environmentally friendly system aims to reduce carbon dioxide and fine dust emissions while minimizing urban landscape disruption. The hydrogen electric tram can travel over 200 kilometers on a single charge. With its low noise and high-efficiency system, it is gaining attention as a model for future urban railways. The hydrogen fuel cells produce almost no pollutants during electricity generation, contributing significantly to the transition to eco-friendly, low-carbon cities. Previously, Hanshin Engineering demonstrated its construction capabilities by breaking ground on the Wirae Tram project in April 2023, which is the first urban tram demonstration project in Korea. This urban railway project spans 6.1 kilometers, connecting the Machon and Bokjeong stations in Seoul's Songpa District. According to the Seoul Construction Notification, the Wirae Line urban railway is currently 94.81% complete, with most of the track and station construction finished. The project is expected to undergo signal system installation and trial operations, with phased openings scheduled for the second half of 2026. Major municipalities are actively pursuing tram projects, including Daejeon's Urban Railway Line 2, Busan's Port Line tram, Jeju's hydrogen tram, and Yangsan's urban railway. Notably, the Daejeon Urban Railway Line 2 construction project recently received a budget increase of 10 billion won after passing a review in the National Assembly last year, raising expectations for market contracts. Hanshin Engineering is recognized for its competitive edge, having direct experience in Korea's first tram demonstration project. The company has accumulated practical urban construction experience, project management expertise, and knowledge in traffic control and citizen safety management. A representative from Hanshin Engineering stated, "Based on our experience in executing Korea's first tram project, we aim to set a new standard for tram and light rail projects nationwide, including in Ulsan."* This article has been translated by AI. 2026-05-14 14:57:16

Xi Jinping Warns Trump on Taiwan Issue Amid U.S.-China Talks Xi Jinping, the President of China, directly warned U.S. President Donald Trump that the Taiwan issue could lead to a U.S.-China conflict. While tariffs and trade were the main agenda items for their summit, China emphasized that the Taiwan issue is a core matter it cannot compromise on. According to state-run Xinhua News Agency, during their meeting at the Great Hall of the People in Beijing, Xi stated, "The Taiwan issue is the most important issue in U.S.-China relations." He added, "If handled well, the relationship between the two countries can maintain overall stability, but if mishandled, the two countries could clash or even come into conflict, pushing U.S.-China relations into a very dangerous situation." Xi also strongly addressed the issue of Taiwan independence, asserting, "'Taiwan independence' and 'peace in the Taiwan Strait' cannot coexist like water and fire," and emphasized that maintaining peace and stability in the Taiwan Strait is in the common interest of both nations. China views Taiwan as part of its territory and has not renounced the goal of reunification. In contrast, Taiwan is a democratic self-governing region that has never been ruled by the Chinese Communist Party. Xi's remarks are seen as a significant escalation from China's previous stance on Taiwan. While China has long defined the Taiwan issue as its most vital interest, it is unusual for Xi to mention the possibility of 'conflict' directly in front of Trump. This is interpreted as a message aimed at preemptively countering U.S. arms sales to Taiwan. Before his visit to China, Trump indicated that he would discuss U.S. arms sales to Taiwan during the summit. According to CNN, the Trump administration has been considering a weapons sale package to Taiwan worth approximately $14 billion, but no official announcement or congressional notification has been made yet. China has consistently opposed U.S. arms sales to Taiwan. The U.S. policy toward Taiwan is complex. While the U.S. does not maintain official diplomatic relations with Taiwan, it continues to engage with the island. Additionally, the Taiwan Relations Act provides a legal basis for supplying arms to Taiwan to defend itself. However, it remains unclear whether the U.S. would militarily intervene if China were to attack Taiwan. CNN reported that concerns have grown about potential disruptions to arms sales following Trump's announcement of discussions with Xi regarding the Taiwan issue. Taiwan is also a crucial region for the semiconductor supply chain. The national security strategy released by the Trump administration last year highlighted Taiwan's role in semiconductor production and its military and economic significance. However, the language regarding Taiwan's defense was not clear, leading experts to assess that the Trump administration's Taiwan policy lacks clarity. Trump's response has not yet been specifically disclosed. Early in the meeting, he referred to Xi as a 'great leader' and emphasized the potential for improving bilateral relations. While Xi acknowledged the need for cooperation, he made it clear that he would not back down on the Taiwan issue.* This article has been translated by AI. 2026-05-14 14:55:18

Public Procurement Agency Aims to Elevate Private Sector Innovations to Global Unicorns The Procurement Agency is ramping up support for procurement policies to help innovative private companies become global unicorns. On May 14, the agency visited robotics and biotechnology innovation companies in Incheon to explore ways to support private innovation through public procurement. Procurement Agency Commissioner Baek Seung-bo visited the company Sheko, which participates in the agency's export-leading pilot purchase program, to observe a product demonstration and discuss regulatory improvements and market expansion strategies. Sheko's "AI-based Water Purification Robot" is capable of recovering and filtering pollutants floating on the surface of oceans and rivers. The product was recognized for its performance through domestic trials with organizations like the Korea Marine Environment Corporation and Saudi Arabia's ARAMCO as part of the agency's pilot purchase program for innovative products in 2023. This year, the company is negotiating export contracts with several countries, including the United States and Singapore. "The core of innovative procurement is to validate creative products from private companies in the public market and grow them into global unicorns, with Sheko being a prime example," Baek said. He added, "We will strive to ensure that K-procurement products become the standard in the global market by utilizing overseas verification support and the innovative product pilot purchase system." Before the site visit, the agency held a "Public Procurement Guide Performance Sharing Conference" at the Incheon Regional Procurement Agency auditorium. The event shared success stories from three novice companies that faced challenges entering the public procurement market and facilitated discussions with seven promising companies currently receiving consulting support. The Procurement Agency plans to expand its public procurement consulting services based on this conference. It aims to assist companies in entering the procurement market and achieving results through tailored support. The agency previously introduced the Public Procurement Guide Consulting System in 2024 and designated 34 consulting specialists to operate the program. Additionally, a meeting with MZ generation employees was held that day. Baek stated, "We will make the voices and ideas of employees from the field and the MZ generation a core driving force of our policies."* This article has been translated by AI. 2026-05-14 14:52:56

BTS to Perform at 2026 World Cup Halftime Show with Madonna and Shakira BTS will take the stage at the halftime show of the 2026 FIFA North America World Cup final. This marks the first time a halftime show will be held during a FIFA World Cup final, with BTS co-headlining alongside Madonna and Shakira.According to Global Citizen and FIFA on May 14, BTS will perform at the halftime show on July 19 at the New York New Jersey Stadium.FIFA and Global Citizen aim to expand their reach to global audiences through a performance that combines sports, music, and culture. The event will also promote the FIFA Global Citizen Education Fund, which seeks to enhance access to quality education and sports for children in underserved communities worldwide.BTS expressed their excitement through their agency, Big Hit Music, stating, "It is a great honor to perform on such a meaningful stage that brings the world together. We believe music is a universal language that conveys hope and unity. It is even more significant to share this message with global audiences through the World Cup and contribute to expanding educational opportunities for children."The halftime show will be produced by Global Citizen and broadcast live worldwide, featuring Chris Martin of Coldplay as the curator. Characters from 'Sesame Street' and 'The Muppets' will also be part of the lineup, promising a performance enjoyable for all generations.BTS has a history of collaboration with Global Citizen. The group performed at Global Citizen LIVE in 2021, and Jungkook took the stage at the Global Citizen Festival in 2023. He also contributed to the official soundtrack 'Dreamers' for the 2022 Qatar World Cup and performed at the opening ceremony.BTS is currently on a world tour, having recently held concerts in Mexico City at Estadio GNP Seguros on May 7 and 9-10, where they met with approximately 150,000 fans. This marked their first full group concert in Mexico in nearly 10 years, with all three shows sold out.Following their Mexico performances, BTS will continue their world tour with shows at Stanford Stadium on May 17-18 and 20.* This article has been translated by AI. 2026-05-14 14:50:32

Krafton Reports Success of Parental Support Program, Births Nearly Double Krafton has revealed the results of its parental support program after one year, reporting that the number of births among employees has nearly doubled, and employee satisfaction has increased. The creation of a family-friendly work environment has been linked to changes in perceptions about childbirth and improved employee morale. On May 14, Krafton announced that from January to April, 46 babies were born to employees, a nearly twofold increase compared to the same period last year. Since January 1 of last year, Krafton has provided up to 100 million won (approximately $85,000) per child to employees who give birth. This includes a birth incentive of 60 million won and annual childcare support of 5 million won until the child turns eight, totaling 40 million won. As of April, Krafton has distributed birth incentives to about 150 employees. Last year, approximately 400 employees received childcare support. The company has also focused on enhancing non-cash benefits. Initiatives include remote work for child care, extending parental leave to a maximum of two years, providing leave for prenatal checkups for spouses, and automating the hiring of substitute staff during parental leave, all aimed at creating a better work-life balance. Krafton is currently conducting joint research with the Population Policy Research Center at Seoul National University to analyze the practical effects of its programs. The study indicates that cash incentives, such as birth bonuses, serve more to convey the company's sincerity in addressing low birth rates rather than being direct factors in the decision to have children. About 83.4% of survey participants felt the company's family-friendly message was genuine. In contrast, non-cash support measures, such as remote work for child care and expanded parental leave, have been found to reduce psychological burdens related to childbirth and parenting while enhancing work engagement. Choi Jae-geun, Krafton's General Executive Officer, stated, "This research confirms that when companies actively participate in solving social issues, they can create tangible changes. We will continue to foster an organizational culture that supports both work and family through our parental support programs." Krafton plans to further enhance its parental support initiatives and actively engage in addressing the low birth rate issue while strengthening its commitment to corporate social responsibility. 2026-05-14 14:48:21

Samsung Life Reports Q1 Net Profit of 1.2 Trillion Won, Up 89.5% Year-on-Year Samsung Life announced on May 14 that it recorded consolidated revenue of 14.72 trillion won and a net profit of 1.20 trillion won for the first quarter of this year. These figures represent increases of 75% and 89.5%, respectively, compared to the same period last year. The improvement in performance was driven by increased investment income, which rose to 1.27 trillion won, a 125.5% increase year-on-year. This growth was attributed to higher dividend income and increased profits from subsidiaries. Notably, separate investment service income surged by 289% to 774 billion won. However, insurance service income decreased by 7.7% to 256.5 billion won compared to the previous year. While the profit margins from insurance contracts (CSM) and risk adjustments remained stable, losses related to insurance payouts and business expenses widened. The discrepancy in insurance payouts increased from a loss of 46 billion won in the first quarter of last year to a loss of 56 billion won this year. The new contract CSM continued its upward trend, reaching 848.6 billion won, an 11% increase from the previous quarter, with a CSM multiplier of 11.4 times. This growth reflects the expansion of health insurance sales and the effectiveness of both exclusive and non-exclusive channels, with health insurance accounting for 66% of total sales. The number of exclusive agents rose by approximately 1,500 to 44,373 since the beginning of the year. Samsung Life has been recognized for achieving a leading level of channel competitiveness in the industry. In the asset management sector, the company stated it is maintaining a comprehensive asset-liability management (ALM) strategy while diversifying its assets. The total assets under management in the general account amounted to 265 trillion won. The increase in stock assets was influenced by rising stock prices, and the duration gap was managed at approximately 0.8 years. The solvency ratio (K-ICS) improved to 210%, up 12 percentage points from the end of last year, reflecting an increase in available capital due to rising interest rates and stock prices, as well as the impact of new contracts. The basic capital K-ICS ratio also rose to 170%.* This article has been translated by AI. 2026-05-14 14:39:28

Gangnam District Sees Price Increase After 12 Weeks of Decline, Seoul Prices Up 0.28% Gangnam District, a key area in the Gangnam region, has reversed its 11-week decline and is now experiencing an increase in apartment prices, significantly boosting the overall sales prices in Seoul.According to the Korea Real Estate Agency's weekly apartment price trends released on May 14, the average apartment sales price in Seoul rose by 0.28% compared to the previous week, nearly doubling last week's increase of 0.15% and indicating a strong rebound.After three weeks of stagnation with price fluctuations around 0.15%, the demand for purchases surged this week across Seoul, including the Gangnam area. Notably, Gangnam District saw a shift from a decline of -0.04% to an increase of 0.19%, joining Seocho District (0.17%) and Songpa District (0.35%) in the upward trend.A representative from the Real Estate Agency stated, "While some areas continue to show a wait-and-see attitude, the increase in inquiries for well-located complexes and those undergoing reconstruction has led to rising contracts, contributing to an overall increase in Seoul's prices."In the northern regions, Seongbuk District (0.54%) recorded the highest increase, particularly in large complexes in the Gileum and Donam-dong areas, followed by Seodaemun District (0.45%) and Jongno District (0.36%). In the Gangnam area, Gangseo District (0.39%), influenced by reconstruction projects, topped the increase, with Songpa District (0.35%) and Guro District (0.33%) also showing notable rises.In Gyeonggi Province, prices rose by 0.11%, led by Anyang's Dongan District (0.69%) and Gwangmyeong City (0.67%), which saw significant increases due to reconstruction and major complexes. In Incheon, prices remained stable at 0.00%, with rises in Bupyeong District offset by declines in Namdong District. Overall, the metropolitan area saw a 0.14% increase.In contrast, non-metropolitan areas experienced a slight decline of -0.02%, particularly in the five major cities (-0.04%), although Sejong (0.01%) saw a minor increase in newly built complexes. Nationwide, the average sales price rose by 0.06%.Meanwhile, nationwide apartment rental prices increased by 0.11% compared to the previous week.In Seoul (0.28%), demand for rentals remained steady, particularly in large complexes and preferred school districts, leading to an increase from last week's 0.23%. Seongbuk District (0.51%) showed a significant rise, especially in the Gileum and Jongam-dong areas, while Songpa District (0.50%), Seongdong District (0.40%), and Gangbuk District (0.40%) also continued to see strong rental prices.Gyeonggi Province (0.18%) and Incheon (0.09%) maintained their upward trends, with the metropolitan area overall rising by 0.20%. Non-metropolitan areas (0.03%) saw slight increases in Ulsan (0.12%) and Sejong (0.09%), with growth slightly expanding from the previous week.Nam Hyuk-woo, a researcher at Woori Bank's Real Estate Institute, noted, "The active trading of high-priced reconstruction complexes during the 'bargain sale' period for multiple homeowners has led to a reduction in available listings and an increase in asking prices, driving the turnaround in Gangnam District. The trend of depleting urgent sales that began in Songpa District is now spreading to Seocho and Gangdong, reaching key areas in Gyeonggi Province such as Gwacheon, Bundang, and Gwangmyeong." He added, "Demand for upgrading in mid- to low-tier areas of Seoul is also continuing, resulting in a price adjustment phenomenon."* This article has been translated by AI. 2026-05-14 14:37:21

Government Inspects Rainwater Management Facilities Ahead of Summer Flood Season Government officials conducted an on-site inspection of urban flood response facilities in the Sinwol-dong area of Yangcheon District, Seoul, ahead of the summer natural disaster response period. The inspection aimed to assess the management of drainage infrastructure, including the deep underground rainwater tunnel, drainage inlets, and manhole fall prevention systems, in preparation for heavy rainfall and urban flooding.On May 14, the Ministry of Climate, Energy and Environment announced that First Vice Minister Kim Han-seung visited Sinwol-dong to review the operational status of the Sinwol deep underground rainwater tunnel, the cleaning of drainage inlets, and the installation of manhole fall prevention systems. This inspection was organized in anticipation of the summer natural disaster response period, which runs from May 15 to October 15.The Sinwol deep underground rainwater tunnel, located 40 meters underground, is the first of its kind in South Korea. It can store up to 320,000 cubic meters of rainwater, equivalent to the volume of about 150 Olympic-sized swimming pools. Since the facility began operations in 2020, the area, which was previously prone to flooding, has not experienced any flood damage.During the visit, Vice Minister Kim inspected the operational status of the rainwater tunnel and pumping stations. He emphasized the need for enhanced cleaning and maintenance of drainage inlets and the early installation of manhole fall prevention systems to prevent flood damage due to drainage issues. He also urged for strict safety management at flood response sites.The ministry plans to monitor local governments' cleaning and inspection records of drainage inlets on a weekly basis during the summer disaster response period. It will also continue to check the management status of flood response drainage facilities, including the installation of manhole fall prevention systems. The ministry aims to ensure the implementation of preventive measures through ongoing inspections.Additionally, the ministry will promote three key public initiatives to maintain clear drainage inlets: not littering in drainage inlets, not placing covers on them, and reporting blocked drainage inlets.Vice Minister Kim stated, "The damage from flooding due to heavy rainfall can be prevented by how well we prepare and respond on-site. We will do our utmost to ensure there are no shortcomings in urban flood response ahead of the summer natural disaster response period."* This article has been translated by AI. 2026-05-14 14:36:05

Air Force Chief Son Seok-rak Announces Early Retirement for F-5 Fighters Air Force Chief Son Seok-rak announced plans to accelerate the retirement of the long-serving F-5 fighter jets from 2030 to 2027. During a meeting with defense reporters in Seongnam, Gyeonggi Province, on May 13, Son stated, "We are preparing for the F-5 fighters to retire honorably before the end of next year." He added, "We will push for the introduction of low-cost unmanned systems like LUCAS, which can be deployed in large numbers at the beginning of a conflict by the early 2030s," and mentioned plans to develop AI pilots aimed for the 2040s, further transitioning to unmanned combat squadrons. Son emphasized that relying solely on the KF-21 would be insufficient, stating, "We must expedite the development of unmanned attack and combat aircraft, completing a combined manned and unmanned system to transition to a sixth-generation fighter system in the 2040s to 2050s." He clarified that unmanned systems are not meant to replace humans but to enhance combat capabilities, asserting that the judgment and expertise of pilots will become increasingly important. The Air Force is actively working on establishing an AI-based command and operational system. Son noted, "The Air Force is currently operating its own generative AI platform, 'AirWars.' We have established the military's first AI-based reporting management system," and added that the Air Force is leading in military AI initiatives, participating in the design of generative AI platforms for the Ministry of National Defense and defense projects. He further stated, "We are now accelerating the introduction of AI into military operations, following its application in administrative tasks," explaining the use of AI for geographic information collection and target processing systems.* This article has been translated by AI. 2026-05-14 14:34:09

Jung Won-oh Apologizes for Past Assault Incident Jung Won-oh, the Democratic Party's candidate for Seoul mayor, apologized on May 14 for a past assault incident, stating he would express his regrets again if necessary. After attending a forum hosted by the Korea Newspaper and Broadcasting Editors Association in Jung-gu, Seoul, Jung addressed claims from the victim's side that they had never received an apology. "It seems that due to the long passage of time, they may not have a clear memory of the event," he said. "I did apologize at the time, but I want to reiterate my feelings of regret and sorrow at any time." In response to assertions from the People Power Party that the background of the assault was not due to political differences, based on records from the Yangcheon District Council, Jung stated, "I do not believe that statements from council members in the records hold more weight than a ruling from an official court in South Korea. Even if we check the five journalists who reported on the incident at the time, the reasons for the dispute are clear." He added, "Once again, I deeply apologize for the past, regardless of the reasons, and I feel sorry for the distress caused." On May 13, Kim Jae-seop, a member of the People Power Party, claimed that the 1995 assault incident involving Jung occurred after he demanded that a cafe owner allow a female employee to stay overnight, which was denied. This contradicts Jung's explanation that the altercation stemmed from political differences. On the same day, fellow party member Joo Jin-woo released audio recordings purportedly from the assault victim, who stated, "I have no memory of any arguments related to the May 18 incident or of receiving an apology afterward."* This article has been translated by AI. 2026-05-14 14:32:26