Busan Mayor Candidate Jeong Yi-han Begins Indefinite Hunger Strike Jeong Yi-han, the Reform Party's candidate for Busan mayor, has begun an indefinite hunger strike to protest his exclusion from a televised debate. In a statement released on May 8, Jeong said, "Despite meeting the legal requirements to participate in the TV debate, my legitimate rights have been completely blocked due to the unilateral exclusion by the broadcasting company. I want to express my protest by putting my body on the line." He criticized the situation, stating, "In the 2018 and 2022 Busan mayoral elections, candidates from the third and fourth parties participated in both official and broadcaster-invited debates. This time, that door has been firmly shut. Silencing candidates ultimately obstructs the citizens of Busan's right to know and deprives voters of their choice." Jeong began his hunger strike at 6 p.m. in front of Busan City Hall in Yeonje District after issuing his statement. The Reform Party plans to file a request for an injunction against the broadcasting companies that excluded Jeong and intends to pursue constitutional complaints regarding the matter. A Reform Party official emphasized, "This issue goes beyond mere participation; it concerns the fairness of the public forum and the fundamental principles of democracy. We will rectify this situation through Jeong's hunger strike and legal action." Meanwhile, Lee Jun-seok, the leader of the Reform Party, plans to visit Busan on May 9 to rally support for Jeong from the citizens of Busan and to visit Jeong's hunger strike site.* This article has been translated by AI. 2026-05-08 20:18:24

Jeju Air Accepts Unpaid Leave Applications Amid Rising Fuel Prices The airline industry is facing challenges due to soaring fuel prices, a consequence of the ongoing conflict in the Middle East, leading to a wave of unpaid leave measures. Following T'way Air, Jeju Air, the largest low-cost carrier (LCC) in South Korea by passenger numbers, has announced it will accept applications for unpaid leave. On May 8, Jeju Air stated it will accept unpaid leave applications from cabin crew members for one month. This decision is seen as a response to the reduction in flight operations due to high fuel costs. Previously, Jeju Air announced a 4% cut in international flight operations for this month and next, attributed to the impact of rising fuel prices from the Middle East conflict. Other domestic airlines are also reducing their flight schedules. The airline industry is considering or implementing unpaid leave to address the issue of surplus staff resulting from these operational cuts. T'way Air is also accepting unpaid leave applications from cabin crew for May and June. Coincidentally, Jeju Air reported strong first-quarter results on the same day. The airline recorded 498.2 billion won in revenue for the first quarter of this year. During this period, it also achieved an operating profit of 64.4 billion won, marking consecutive profits following the fourth quarter of last year. However, industry analysts predict that the impact of high fuel prices will significantly affect performance starting in the second quarter, suggesting that the airline industry is proactively implementing unpaid leave measures in anticipation of declining profitability. A Jeju Air official explained, "The surplus staff is a result of the temporary reduction in flight operations due to high fuel prices. We plan to accept unpaid leave applications freely from those who wish to take time off for childcare, family care, or personal rest during the month of June." * This article has been translated by AI. 2026-05-08 20:03:27

Clear Weekend Weather Expected Nationwide with Significant Temperature Variations On Saturday, May 9, clear weather is expected across the country. However, significant temperature variations are forecasted, particularly in inland areas, with morning lows around 13 degrees Celsius in Seoul. According to the Korea Meteorological Administration on May 8, morning low temperatures nationwide are expected to range from 4 to 11 degrees Celsius, while daytime highs will be between 19 and 25 degrees Celsius. The forecasted morning lows for major regions are as follows: △Seoul 10 degrees △Incheon 10 degrees △Suwon 9 degrees △Chuncheon 6 degrees △Gangneung 11 degrees △Cheongju 8 degrees △Daejeon 8 degrees △Jeonju 7 degrees △Gwangju 6 degrees △Daegu 9 degrees △Busan 11 degrees △Jeju 11 degrees. The expected daytime highs are: △Seoul 23 degrees △Incheon 21 degrees △Suwon 22 degrees △Chuncheon 23 degrees △Gangneung 23 degrees △Cheongju 24 degrees △Daejeon 24 degrees △Jeonju 23 degrees △Gwangju 24 degrees △Daegu 24 degrees △Busan 23 degrees △Jeju 20 degrees. Due to the influence of high pressure, clear skies are anticipated nationwide, with significant temperature differences expected, especially in inland areas. The atmosphere in the Seoul metropolitan area, Chungbuk, and Gyeongnam regions will be dry, and strong winds may increase the risk of fires. Fine dust levels are forecasted to be at a 'good' level across all regions. While there may be some accumulation of fine dust from domestic sources in the morning, improved air circulation in the afternoon is expected to reduce concentrations.* This article has been translated by AI. 2026-05-08 18:27:06

Dongkuk Steel Launches 'Luxteel Playlist' to Engage Younger Generations Dongkuk Steel is launching a brand content project called 'Luxteel Playlist,' which combines music with the industrial landscape, based on its premium color steel brand, Luxteel. According to the steel industry on May 8, Dongkuk Steel will unveil the first content of Luxteel Playlist at 6 PM on its YouTube channel, Luxteel TV. This content features a playlist format that blends the actual sounds of steel production from factories and offices with K-pop music. The project, developed in collaboration with Broadplay, aims to provide consumers with a new brand experience by narrating Dongkuk Steel's story in the steel industry through music, appealing to the MZ generation (Millennials and Generation Z). The inaugural video was filmed at Dongkuk Steel's Busan plant. The approximately 1 hour and 10-minute playlist video showcases the color-coated steel products produced at the Busan plant along with scenes from the production site. Dongkuk Steel plans to release a total of four episodes in the Luxteel Playlist series this year. Future content will be filmed at locations such as the Dosung Center and the Ferum Tower headquarters, with plans for content featuring architectural structures utilizing Luxteel to be considered in 2027. Dongkuk Steel stated, "We wanted to present a bright and lively image of the workplace, rather than the heavy and dangerous steel production environment, through Luxteel Playlist. This video reflects Dongkuk Steel's identity of creating new value by adding diverse colors to steel."* This article has been translated by AI. 2026-05-08 18:24:34

New Committee Launched to Support Integrated Special City in Jeonnam-Gwangju The Ministry of Interior and Safety announced on May 8 that it will hold the inaugural ceremony and first meeting of the "Jeonnam-Gwangju Integrated Special City Preparation Committee" on July 1, aimed at ensuring the successful launch of the integrated special city. The committee has signed a memorandum of understanding with Jeollanam-do and Gwangju Metropolitan City. The preparation committee officially commenced its activities with the inaugural ceremony and a full meeting on the same day. This committee serves as a public-private partnership body that will provide direction for the integration process. It is tasked with discussing and mediating issues that cannot be resolved through the existing "City-Province Policy Council" between Jeollanam-do and Gwangju Metropolitan City. The committee comprises 17 members, including 14 private sector experts in local administration, urban development, and economic industry, recommended by Jeollanam-do, Gwangju Metropolitan City, and the Ministry of Interior and Safety, along with three ex-officio government members. Regular meetings will be held in Jeollanam-do and Gwangju Metropolitan City until June. The preparation committee will engage in various discussions regarding key policies related to the launch of the integrated special city. The three entities have agreed to actively cooperate to ensure that the committee's deliberations are faithfully reflected in future policies concerning the integrated special city. During the inaugural ceremony, certificates of appointment were presented to the private members, and the first meeting was held. The meeting included reports on the progress of the integrated special city initiative, the current state of preparations, an overview of the committee, and operational plans. The committee's purpose and functions were also discussed, along with the election of a chairperson and the establishment of operational rules. Following the ceremony, a memorandum of understanding was signed by Kim Young-rok, Governor of Jeollanam-do; Kang Ki-jeong, Mayor of Gwangju Metropolitan City; Kim Tae-kyun, Chair of the Jeollanam-do Council; Seo Yong-kyu, Acting Chair of the Gwangju Metropolitan City Council; and Kim Min-jae, Vice Minister of the Ministry of Interior and Safety. The parties committed to respecting the committee's discussions based on mutual respect and trust, and to diligently work together to ensure the smooth launch of the integrated special city, which aims to become a central axis for balanced national development. Minister of Interior and Safety Yoon Ho-jung stated, "The integrated special city, the first of its kind in history, will serve as a focal point for balanced regional development, overcoming the concentration of power in the metropolitan area and the crisis of regional extinction. The central and local governments will work as one team to ensure thorough preparations for the launch." Additionally, the Ministry of Interior and Safety plans to announce legislative proposals related to the integrated special city from May 8 to June 5 to facilitate its successful establishment. This includes the need to grant a status equivalent to that of Seoul and to revise standards for administrative positions and personnel numbers.* This article has been translated by AI. 2026-05-08 18:22:41

Shinbo Opens First AI Startup Hub in Northeast Seoul, Promoting Future Growth The Financial Services Commission, in collaboration with the Credit Guarantee Fund, has launched the first startup incubation space for policy finance institutions in Northeast Seoul, aimed at bolstering support for artificial intelligence (AI) startups. The initiative goes beyond merely providing office space; it plans to offer long-term support, technology commercialization, and assistance with international expansion.On May 8, Chairman Lee Eok-won attended the opening ceremony of Shinbo's 'Nest AI Lab Gwangjin' and a youth startup meeting.Nest is a platform that selects promising startups each year and provides comprehensive incubation services, including office space, mentoring, consulting, and networking.Since its launch in 2020, Nest has operated five locations across the country, including in Seoul (Mapo and Gangnam), Gangwon (Chuncheon), and Busan. By last year, it had supported a total of 1,500 startups across 18 cohorts.The Gwangjin location, the sixth Nest facility, has been transformed from a former women's basketball team facility into the first startup incubation center in Northeast Seoul.The Gwangjin site will extend the residency period from a maximum of one year to two years, providing long-term support. It also plans to offer tailored programs that connect research institutions and large corporations for technology validation, in response to the demand from AI-related companies.During the opening ceremony, Lee emphasized, "As the global economic and trade environment undergoes rapid changes and industrial restructuring accelerates, it has become crucial to discover and nurture new growth engines. We will create an environment where anyone with an idea can take on challenges and support entrepreneurs' growth journeys in collaboration with policy finance institutions."* This article has been translated by AI. 2026-05-08 18:20:41

KT Alpha Reports 10.5% Increase in Q1 Operating Profit KT Alpha has opted for profitability over expansion, achieving a double-digit growth rate in operating profit for the first quarter of this year. The company has reduced its reliance on low-margin direct purchases, which carry significant inventory burdens, and has focused on developing its business-to-business (B2B) mobile gift certificate operations. This strategy has been deemed successful. According to the Financial Supervisory Service's electronic disclosure system on May 8, KT Alpha reported a consolidated operating profit of 13.5 billion won for the first quarter, a 10.5% increase compared to the same period last year. Net profit for the period was 11.4 billion won, while total sales decreased by 0.4% to 96.2 billion won. A representative from KT Alpha stated, "Sales slightly decreased due to adjustments in our product portfolio focused on consignment operations, but overall stability has improved." In its core T-commerce sector, the effects of the profitability-focused restructuring are becoming evident. First-quarter sales fell by 4.0% year-on-year to 63.8 billion won due to reduced direct purchase operations, yet operating profit increased by 4.8%. The introduction of exclusive products tailored to active seniors and lifestyle trends, along with enhanced programming, has contributed to this improvement in profitability. The T-commerce market, which sells products via television, has faced challenges recently as viewership declines and mobile shopping surges. In response, KT Alpha plans to strengthen its mobile channels and enhance broadcast quality through artificial intelligence (AI) technology to boost competitiveness. The mobile gift certificate business has shown even more pronounced growth. First-quarter sales of mobile gift certificates rose by 7.5% year-on-year to 32.4 billion won, with operating profit increasing by 8.4%. Notably, a targeted sales approach aimed at B2B clients and proactive partnerships with major platforms led to a 43.3% surge in overall transaction volume. KT Alpha's mobile gift certificate brand, 'Giftishow,' maintains the top market share in the domestic B2B mobile gift certificate sector, surpassing 180,000 corporate clients by the end of last year. KT Alpha is also enhancing its shareholder return policy. The company achieved a record annual operating profit of 44.2 billion won last year and initiated its first cash dividend of 280 won per common share, marking the beginning of its shareholder return strategy. A KT Alpha representative remarked, "This year, we will focus on AI-driven efficiency and customer experience innovation under the theme of 'innovation amid stability.' Additionally, we plan to achieve sustainable growth and enhance shareholder value through expanded partnerships and group synergies."* This article has been translated by AI. 2026-05-08 18:18:29

Hana Pharm CEO Hwang Sang-yeon Announces Organizational Restructuring "This is to establish a 'One Team' system that can respond immediately and flexibly to any crisis or change," said Hwang Sang-yeon, the first external CEO of Hana Pharm since its founding in 1973, as he initiated a major restructuring. This decision aims to effectively achieve business goals in response to the rapidly changing global pharmaceutical and biotech market by integrating existing divisions based on work relevance into a new 'departmental system.'According to Hana Pharm, the company was reorganized on May 1 into four core integrated areas: innovation growth, sustainable growth, future growth, and growth support.A key aspect of this restructuring is the establishment of the 'Innovation Growth Division.' To ensure the successful domestic and international launch of its obesity treatment, Hana Pharm plans to maximize synergy by consolidating its new product development center, marketing center, Pyeongtaek manufacturing center, pharmaceutical innovation center, and overseas sales team.The existing R&D center has been restructured into the 'Future Growth Division,' which will house three centers: the Obesity Metabolism Center, the Oncology Center, and the Convergence Center, ensuring research and development independence while continuously discovering innovative early-stage pipelines.Additionally, the domestic sales headquarters has been elevated to the 'Sustainable Growth Division' to enhance its external standing, while the 'Growth Support Division' will include the Paltan manufacturing center and business management center to support the efficient operation of each growth area.The 'Portfolio Committee' has been restructured to include the clinical center, serving as a control tower to make final decisions on the company's overall portfolio, including new projects and product adjustments.On May 6, Hwang held a town hall meeting at Hana Pharm's headquarters in Songpa-gu, Seoul, to explain the purpose and details of the restructuring to employees.He emphasized that this restructuring is not merely a "game of musical chairs" with department names, but rather a move to create a 'One Team' system that can respond immediately and flexibly to any crisis or change, akin to a snake shedding its skin.Hwang further stated, "We focused on breaking down barriers between departments and concentrating the company's capabilities solely on achieving business objectives. We aim to establish an integrated system where each division is organically connected, transforming into a global pharmaceutical and biotech company that simultaneously realizes innovative drug development and sustainable growth."* This article has been translated by AI. 2026-05-08 18:16:20

JIHYO joins Genevieve on new R&B single 'Hvnly' SEOUL, May 08 (AJP) - JIHYO of K-pop girl band TWICE joined forces with rising U.S. R&B singer Genevieve on the newly released track "Hvnly (feat. JIHYO of TWICE)," expanding the singer’s global collaborative portfolio as TWICE continues its record-setting world tour. The song was officially released Friday as part of Genevieve’s deluxe album "CRYSALIS (CODA)." The track is a remix version of Genevieve’s earlier song "Hvn High," reinterpreted as an alternative R&B-pop track layered with soulful vocals from both artists. Genevieve, known among Korean listeners for songs such as "Love Quotes" and "Baby Powder," has been gaining attention in the U.S. R&B scene for her atmospheric vocal style and genre-blending sound. The collaboration with JIHYO drew attention from both K-pop and international R&B listeners ahead of the release. JIHYO, the leader and main vocalist of TWICE, debuted as a solo artist in August 2023 with her first mini album ZONE. TWICE, a nine-member girl group formed by JYP Entertainment, debuted in 2015 and rose to global fame with hit songs such as Cheer Up, TT and Feel Special, becoming one of the most commercially successful K-pop acts of their generation. The album showcased her stronger R&B and pop influences while highlighting her vocal versatility beyond the group’s signature sound. She has also participated in several soundtrack projects, including Stardust love song for the tvN drama "Twenty-Five Twenty-One" and "TAKEDOWN" for Netflix’s "KPop Demon Hunters OST" lineup. The latest collaboration comes as TWICE continues its sixth world tour, "THIS IS FOR," the group’s largest global tour to date. The nine-member act recently became the first K-pop group and the first overseas artist to headline solo concerts at Japan’s National Stadium in Tokyo, drawing around 240,000 fans across three shows in April. The group also wrapped up a major North American leg earlier this year, attracting roughly 550,000 attendees across 35 concerts in 20 cities, according to JYP Entertainment. The company described the tour as the largest North American turnout ever achieved by a K-pop girl group. TWICE is set to continue the European leg of the tour beginning Friday in Lisbon. 2026-05-08 18:07:00

Demand Shifts to Non-Regulated Areas in Seoul's Housing Market The apartment market in the Seoul metropolitan area is showing stark contrasts based on regulatory status. While transactions in key regulated areas of Seoul and Gwacheon have sharply declined, non-regulated regions like Guri, Hanam, and Anyang’s Manan district are experiencing a surge in purchases from outside buyers, leading to a series of record-high sales. Analysts attribute this trend to relatively lenient loan conditions and the absence of mandatory residency requirements, attracting both genuine buyers and investors. Gyeonggi Province Apartment Prices Rise 0.08%...Regional Disparities Widen According to KB Real Estate's weekly statistics released on May 8, apartment prices in Gyeonggi Province rose by 0.08% in the first week of May, maintaining the same growth rate as the previous week. The growth rate, which peaked at 0.12% in mid-March, showed slight moderation in April but rebounded to 0.11% in the third week of April, followed by two consecutive weeks at 0.08%. Regionally, Seongnam's Jungwon district (0.51%), Gwangmyeong (0.39%), Guri (0.36%), Anyang’s Manan district (0.28%), Seongnam's Bundang district (0.27%), and Hanam (0.25%) led the price increases. In contrast, Icheon (-0.13%), Gwacheon (-0.08%), and Hwaseong's Manseong district (-0.06%) experienced declines. The disparity between rising and falling regions has reached as much as 0.64 percentage points, indicating a growing divide within the market. In Seongnam's Jungwon district, which recorded the highest growth rate, the depletion of affordable listings has led to a decrease in buyer inquiries, causing transactions to slow down somewhat. This week's price increases were concentrated around large complexes in Geumgwang-dong. In Incheon, apartment prices fell by 0.01%, marking a downturn this week. Only Bupyeong (0.02%) saw an increase, while Yeonsu, Seo, Michuhol, and Namdong districts remained stable, with Jung-gu (-0.15%), Gyeyang (-0.03%), and Dong-gu (-0.01%) experiencing greater declines. Guri's Transaction Volume Surges 314% vs. Gwacheon's 85% Decline The disparity in transaction volumes based on regulatory status is becoming increasingly pronounced. According to an analysis by real estate research firm RealToday of actual transaction data from the Ministry of Land, Infrastructure and Transport, the volume of apartment transactions in Guri, Gyeonggi Province, surged by 314% in the first quarter of this year compared to the same period last year. In stark contrast, the regulated area of Gwacheon saw an 85% decline during the same timeframe. The concentration of demand in non-regulated areas can be attributed to differences in loan and resale conditions. Regulated areas face lower loan-to-value (LTV) limits and are subject to mandatory residency requirements and land transaction permit regulations, effectively blocking investment entry. In contrast, non-regulated areas offer relatively flexible loan limits and conditions, with looser resale restrictions, allowing both genuine buyers and investors to enter the market. This trend is also evident in the new housing market. In February, the 'Syangyong The Platinum Onsu Station' project in Bucheon, Gyeonggi Province, attracted 1,317 applicants for 109 units, resulting in an average competition ratio of 12.08 to 1. Similarly, the 'Anyang Station Central I-Park Sujin' project in Anyang’s Manan district recorded an average competition ratio of 11.93 to 1. Both developments are located in non-regulated areas and are priced below 1.5 billion won. Guri and Hanam See Continuous Record-High Prices Driven by Transportation Benefits According to the Ministry of Land, Infrastructure and Transport's actual transaction disclosure system, Guri and Hanam, adjacent to Seoul, are witnessing a continuous influx of outside buyers, leading to a series of record-high prices. Guri is particularly notable. The 'e-Pyeonhansesang Inchang Urban Forest' apartment, with a dedicated area of 84 square meters, was sold for 1.315 billion won in March, setting a new record. The opening of the extension of Line 8 (Byeollae Line) has improved accessibility to Gangnam, rapidly attracting demand from northern and southeastern Seoul. A real estate agent in Inchang-dong, Guri, stated, "While Seoul is constrained by residency requirements and land transaction permits, Guri allows entry with 200 to 300 million won in cash alongside a jeonse. With the opening of Line 8, the demand for jeonse has solidified, reducing investment risks, prompting investors to quickly acquire lower-priced listings from Gangnam." Hanam's Misa River City is also experiencing steep price increases. The 'Lunarrium' apartment, with a dedicated area of 84 square meters, was sold for 1.295 billion won last month, while the Misa River City Complex 8 Star Hills, with a dedicated area of 51 square meters, also set a record at 900 million won. The trend of record-high prices continues in the Gwangmyeong and Anyang areas as well. Anyang's 'Raemian Anyang Mega Tria' apartment, with a dedicated area of 59 square meters, sold for 930 million won, and the 'Lotte Castle Signature' apartment near Gimpo's Pungmu Station, with a dedicated area of 75 square meters, changed hands for 738.5 million won, also reaching a new high. In contrast, key areas in Seoul are facing challenges due to land transaction permits and high prices, making it difficult to leverage jeonse. Meanwhile, regions like Guri, Hanam, and Anyang's Manan district still have relatively high jeonse rates and lower upper price limits, allowing for ownership transfer with smaller capital investments. In fact, some non-regulated areas like Anyang's Manan district have dominated transaction volumes in Gyeonggi Province this year, emerging as key investment destinations in the metropolitan area. The concentration of demand for properties priced below 1.5 billion won aligns with the high-end apartment loan regulations (prohibiting mortgage loans for properties over 1.5 billion won). Ultimately, the influx of investment demand exploiting regulatory gaps is driving price increases in non-regulated areas. However, market participants are cautious about the sustainability of this trend in the long term. A representative from a real estate agency in Guri noted, "Demand for gap investments is sensitive to interest rates and the stability of the jeonse market. If adjustments in jeonse prices become evident, the risk of reverse jeonse could materialize, necessitating careful consideration when investing funds."* This article has been translated by AI. 2026-05-08 18:06:00