Democratic Party Launches Candidate Selection Events in Gangwon and Seoul The Democratic Party of Korea declared its transition to a local election system on May 11 by launching its Central Election Committee and holding candidate selection events in Gangwon and Seoul, reinforcing its commitment to resolving the rebellion and securing voter support. During a meeting of the Central Election Committee in Chuncheon, Gangwon Province, and subsequent candidate selection events in both regions, the party reaffirmed its determination to achieve victory in the June 3 local elections, focusing on resolving the rebellion and ensuring the success of the Lee Jae-myung administration. Jung Cheong-rae, the party's representative, called for support for Woo Sang-ho, the candidate for Gangwon governor, during the committee meeting, emphasizing the importance of overcoming the rebellion and normalizing the country to support the success of the Lee administration. "The citizens' efforts allowed us to lift the state of emergency, and we are on the path to overcoming the rebellion and normalizing the country," Jung stated. "This election is a golden opportunity for the success of the Lee Jae-myung administration. Woo will be a strong partner in realizing the government's philosophy in the region." At the Gangwon candidate selection event held in Chuncheon, Jung reiterated the need to rally support for Woo's election and solidify the party's commitment to resolving the rebellion through local election victories. He remarked, "This local election is about overcoming the abnormal state characterized by political oppression and attempts to undermine Lee Jae-myung, as well as the state of emergency and rebellion, and striving for national normalization." While mentioning Woo, he added, "Woo will follow the path and direction set by the citizens, ensuring he does not go alone but walks alongside the people of Gangwon. He understands the president's thoughts and governance philosophy better than anyone and will be the key to unlocking a great leap for Gangwon." Woo also emphasized the importance of the upcoming local elections, stating, "Through this election, we must fulfill President Lee's governance philosophy of transitioning to a local era." He urged the nominated candidates, saying, "Your victory is the victory of the Democratic Party. If you lose, both the Democratic Party and the president will lose." In the afternoon, the Democratic Party held a candidate selection event in Seoul, where Jung again stressed the necessity of winning local elections, including reclaiming Seoul. He noted, "The spirit of the times in 2026 is national normalization. Overcoming the state of emergency and rebellion and restoring normalcy under the Yoon Seok-yeol administration's prosecutorial dictatorship is the spirit of the times." He urged candidates to wear their blue jackets with pride and carry the mission of supporting local election victories and the success of the Lee administration. Jung Won-o, the candidate for Seoul mayor, asserted, "The spirit of the times for this Seoul election is to replace the local government with capable leadership. We must change the ineffective current mayoral system and create an efficient Seoul administration." He warned that if Oh Se-hoon, the candidate from the People Power Party, were to win, it would lead to ongoing political conflict with President Lee for four years. "Only by electing Jung Won-o, who stands at the center of life, can Seoul's citizens be happy and the city develop. We will ensure that we replace the administrative power of Seoul to create a city where residents feel the effectiveness of governance."* This article has been translated by AI. 2026-05-11 16:37:54

Middle East Risks Cause Volatile Exchange Rates Ahead of Ceasefire Agreement The won-dollar exchange rate has been experiencing significant fluctuations as negotiations for a ceasefire between the U.S. and Iran continue to stall and resume. Analysts predict that volatility will persist until a final agreement is reached. On May 11, the exchange rate in the Seoul foreign exchange market closed at 1,472.4 won per dollar, up 0.7 won from the previous trading day. The rate opened at 1,466.0 won, down 5.7 won from the prior day, but surged to over 1,476 won at one point during the day. Recently, the foreign exchange market has been reacting sharply to news related to U.S.-Iran negotiations. Until early last month, the exchange rate was threatening the 1,500 won mark, but it quickly declined as negotiations began. However, every time the possibility of a breakdown in talks and renewed geopolitical tensions arises, the rate has spiked again, indicating high volatility. On May 6, the won-dollar exchange rate dipped below 1,440 won during the day due to significant foreign buying of domestic stocks and optimism surrounding U.S.-Iran ceasefire expectations. Conversely, on May 8, as geopolitical tensions escalated, the rate rebounded nearly 20 won in a single day, reflecting market anxiety. The potential for an all-out war in the Middle East remains limited. The U.S. and Iran are maintaining negotiation channels, and with a U.S.-China summit scheduled for May 14, analysts believe the U.S. will seek to avoid escalating Middle East risks. A prolonged conflict could weaken U.S. negotiating power with China, as China may leverage the Iran issue in negotiations. Additionally, the recent strengthening of the yen is seen as a factor that alleviates some downward pressure on the won. The yen has been gaining strength amid concerns over potential market interventions by the Japanese government and expectations of changes in monetary policy. Market observers note that the yen's strength is encouraging a broader appreciation of Asian currencies, positively impacting the won. External supply conditions are also favorable for the won. According to the Bank of Korea, the current account surplus reached a record $37.33 billion in March, marking the largest surplus ever recorded for two consecutive months, following February's $23.19 billion. The expansion of the current account surplus increases domestic dollar supply, helping to buffer upward pressure on the exchange rate. However, the market does not rule out the possibility that the exchange rate could threaten the 1,500 won mark again if Middle East risks escalate. Given the history of repeated negotiations and ceasefire discussions, high volatility is expected to continue until a final agreement is reached. Analysts also warn that a sharp rise in international oil prices could lead to increased import costs and heightened risk-averse sentiment, further exerting downward pressure on the won. Park Sang-hyun, a researcher at iM Securities, stated, "It is essential to monitor the potential for further appreciation of the yuan and yen around the U.S.-China summit. The high oil prices and volatility stemming from the stalled ceasefire negotiations between the U.S. and Iran are the most significant variables in the global foreign exchange market, but if the situation does not change rapidly, the impact of the dollar may be limited." * This article has been translated by AI. 2026-05-11 16:35:44

Korean AI Safety Institute Partners with Anthropic on AI Security Initiative The Korea Artificial Intelligence Safety Institute (AISI) is emerging as a global partner for AI safety and security with the American AI company Anthropic. The Ministry of Science and ICT has proposed establishing a security cooperation framework centered on AISI, suggesting that South Korea's AI safety policies and cybersecurity responses may soon align with global AI safety governance. According to the Ministry of Science and ICT on May 11, the government has suggested a plan to build an AI safety and cybersecurity cooperation system centered on AISI to Anthropic. AISI, which was launched in November 2024 as an organization under the Korea Electronics and Telecommunications Research Institute (ETRI), is South Korea's sixth dedicated AI safety agency established after the AI Seoul Summit held in May of the same year. It is responsible for AI risk assessment, policy research, and building global cooperation systems, and is currently working towards gradual independence from ETRI. This proposal is gaining attention as it aligns with Anthropic's global security partnership initiative, Project Glasswing. Project Glasswing is a collaborative security initiative in the industry that uses AI to detect and patch software security vulnerabilities worldwide. Led by Anthropic, the initiative reportedly includes participation from major global tech companies such as Amazon Web Services (AWS), Google, Microsoft, Apple, and NVIDIA. Among foreign public institutions, the UK AI Safety Institute is the only one involved. Additionally, companies in security, infrastructure, and finance, including Cisco, CrowdStrike, Broadcom, Palo Alto Networks, Cloudflare, and JPMorgan Chase, are also listed as partners. At the core of the project is Anthropic's proprietary AI model, Claude Mythos. Anthropic has stated that this model outperforms most humans, except for top security experts, in vulnerability detection. Mythos has reportedly identified vulnerabilities in OpenBSD that had gone undetected for 27 years and in the open-source video processing software FFmpeg that had persisted for 16 years. Notably, the FFmpeg vulnerability was not discovered despite over 5 million automated security tests. Experts believe that South Korea's participation in Project Glasswing could enhance its integration into the global AI security cooperation framework, thereby accelerating its response to vulnerabilities. Eom Heung-yeol, a professor in the Department of Information Security at Soonchunhyang University, stated, "The key to AI-based security is ultimately a race against time in detecting and patching vulnerabilities. By participating in Glasswing, we can receive advance information on vulnerabilities and patches from global tech giants, significantly shortening our domestic response time." He added, "Given the likelihood that North Korea and others will develop AI-based security and attack models, the nation that discovers vulnerabilities first and establishes a defense system will gain an advantage. It is crucial to reduce the current vulnerability sharing and patch response time from months to a matter of days or weeks."* This article has been translated by AI. 2026-05-11 16:33:23

North Korean march in Russia's Victory Day parade sends message on new alliance SEOUL, May 11 (AJP) - Missing were the regular VIPs from China and Iran at this year's Victory Day in Russia, while the military hardware usually showcased along Red Square was notably scaled back amid the ongoing wars in Ukraine and the Middle East. What stood out instead during the 45-minute spectacle was the march of North Korean servicemen fighting alongside Russian troops in Ukraine. The message came across clear. The spectacle was intended to “show off the military alliance relationship between North Korea and Russia at home and abroad,” said Yoon Min Ho, spokesman for Seoul’s Unification Ministry. The parade, commemorating the Soviet Union’s victory over Nazi Germany in World War II, was held under heavy security amid concerns over possible Ukrainian attacks. Russian President Vladimir Putin used the occasion to draw parallels between the sacrifices of the 1940s and Russia’s current war in Ukraine. The legacy of the wartime generation inspired Russian soldiers in the “special military operation,” he said. “They stand against an aggressive force armed and supported by the entire NATO bloc,” Putin said. “And despite this, our heroes move forward. Victory has always been and will always be ours.” This year’s event was notably more restrained than previous years. Instead of the customary display of missiles and armored vehicles, spectators were shown video presentations highlighting Russia’s drone capabilities and nuclear arsenal. A column of North Korean soldiers marched across Red Square as Pyongyang and Moscow deepen military cooperation. North Korean troops have reportedly been deployed alongside Russian forces, particularly in Russia’s Kursk region. The ceremony lasted about 45 minutes, roughly half the length of past Victory Day events. Russian authorities acknowledged tightened security measures were intended to protect Putin amid fears of possible Ukrainian strikes on Moscow. In a congratulatory message to Putin, North Korean leader Kim Jong-un emphasized the countries’ “comprehensive strategic partnership.” An estimated 14,000 North Koreans have been dispatched to the frontlines of Russia since October 2024, with 2,251 presumed to be killed. North Korea’s state-run Rodong Sinmun prominently featured the parade on its front pages. According to the newspaper, a combined column of the Korean People’s Army’s ground, naval and air forces was led by Army Col. Choe Yong-hun. “It was a display to the world of the closeness of North Korea-Russia relations at a time when North Korean troops are participating in the Ukraine war and fighting Ukrainian forces in Kursk,” said Kim Yong-hyun, professor of North Korean studies at Dongguk University. Kim said deepening ties between Pyongyang and Moscow could also encourage China to move closer to North Korea. He added that relations between Pyongyang and Moscow were likely to remain close for a considerable period because a quick end to the war appeared unlikely. 2026-05-11 16:31:08

Government Sells NXC Shares for 1 Trillion Won to Stabilize Currency and Bond Markets The South Korean government has sold part of its NXC shares, which it had held for three years, at a price higher than the book value to stabilize the currency and secure non-tax revenue. Koo Yun-cheol, Deputy Prime Minister and Minister of Economy and Finance, announced this during a press conference at the Government Sejong Center on May 11. The shares were sold at 555,800 won each, exceeding the book value of 553,400 won per share, reducing the government's stake from 30.6% to 25.7%. Previously, the government attempted to sell the shares through public bidding and the selection of a sale manager after receiving them from NXC in 2023, but repeated failures occurred due to the large scale of 4.7 trillion won. NXC has initiated a stock buyback based on investment returns from domestic and international corporations. This sale marks the first instance of asset disposal exceeding 30 billion won since the government improved its asset sale system last December, completing the necessary procedures including meetings of the National Property Policy Review Committee, cabinet approval, and reporting to the National Assembly. Koo stated, "Although the government had tried to sell the shares until last year without success, this time, Nexon purchased the shares with foreign currency. We view this positively as the sale price exceeds the book value we received." The Ministry of Economy and Finance expects this sale to have several benefits, including an influx of foreign currency and securing non-tax revenue. By utilizing some of the foreign currency funds for the buyback, the government aims to contribute to currency stability. Additionally, the successful sale of previously stagnant shares is expected to contribute to fiscal management. The government plans to include the 1 trillion won from the NXC share sale in this year's non-tax revenue budget. Meanwhile, due to recent amendments to the Commercial Act mandating the retirement of treasury shares, NXC is expected to retire the shares it has purchased. Koo also mentioned that the government is working on legislation related to the 'Korean version of the sovereign wealth fund,' which would address the transfer of the NXC shares to the fund. Under current law, proceeds from the sale of Nexon shares cannot be transferred to the sovereign wealth fund. He added, "If a sovereign wealth fund is established, we could place the shares received into the fund, allowing it to determine the timing and method of sale to maximize profits. I believe that if the fund is established quickly, it could greatly benefit the nation." The government has assessed that the inclusion in the World Government Bond Index (WGBI) has positively impacted the foreign exchange market, leading to a significant influx of foreign capital, primarily from Japanese investors, into the domestic bond market. From March 30 to May 8, foreign investors purchased a total of 14.6 trillion won in government bonds based on transaction standards, with net purchases amounting to approximately 10 trillion won. The government analyzed that the WGBI inclusion is expanding the investor base in the medium to long term, improving the supply and demand conditions in the bond market. It also expects that the stability of the South Korean economy, policy reliability, and the level of financial market development will enhance the country's credibility internationally. In particular, the influx of new foreign capital is anticipated to lower government bond yields and reduce corporate financing costs, positively affecting the real economy and encouraging investment. The government also noted that the WGBI inclusion, along with the new framework for the National Pension Service and the introduction of domestic stock return accounts (RIA), is contributing to the stability of foreign exchange supply and demand. Following the announcement of the National Pension Service's new framework on April 14, expectations for expanded currency hedging have alleviated speculative dollar buying in the offshore market. Amid a favorable domestic capital market, the number of RIA accounts and the amount deposited are rapidly increasing. As of May 8, the number of RIA accounts reached 212,000, with deposits exceeding 1.6 trillion won. The government anticipates continued capital inflows, as investors can receive a 100% tax exemption on capital gains from the sale of overseas stocks until the end of this month. 2026-05-11 16:30:33

AI Hacking Era Triggered by Anthropic's Mythos: Security Industry Focuses on Encryption and Zero Trust Anthropic's next-generation artificial intelligence (AI) model, Mythos, has revealed its potential for detecting software vulnerabilities and automating attacks, prompting the domestic security industry to enhance its response strategies. Industry experts note that while AI is not creating new hacking methods, it is significantly accelerating the speed of vulnerability exploration and attack execution. As a result, there is a shift from a preemptive security framework to one that emphasizes automated detection and response, data encryption, and zero trust-based security. On May 11, Ryu Je-myung, the Second Vice Minister of Science and ICT, met with Michael Selitto, Global Policy Lead at Anthropic, to discuss collaboration in the AI and cybersecurity sectors. The government is reportedly exploring the possibility of securing access to Mythos and participating in Project Glasswing. Mythos is a high-performance AI model capable of understanding and analyzing complex software to identify vulnerabilities. Its ability to detect vulnerabilities has raised global concerns about AI security, especially as the potential for exploitation becomes apparent. The government is considering applying Mythos to real systems and infrastructure to identify vulnerabilities and validate defense mechanisms as part of its interest in Project Glasswing. The domestic security industry views the concerns surrounding AI security as a foreseeable issue. They have been preparing for hacking scenarios resulting from AI advancements, and the recent Mythos shock has heightened awareness of AI security threats. Experts analyze that new attack techniques have not emerged due to Mythos; rather, the speed and level of automation in exploring and attacking vulnerabilities have significantly increased through AI. The methods of exploiting vulnerabilities, executing malware, and carrying out commands remain largely unchanged from traditional hacking techniques. However, the speed, repetitiveness, and sophistication of attackers' explorations have risen, necessitating a shift in corporate response strategies. Consequently, security strategies are evolving from a focus on preemptive blocking to prioritizing rapid detection, analysis, response, data encryption, and zero trust principles. AhnLab views the Mythos shock as a pivotal moment for the security industry to transition to new defense systems. The ability to quickly identify and analyze emerging threats for swift response has become crucial, rather than attempting to block all attacks in advance. The industry believes that AI should be recognized not just as a tool but as an active agent, and that AI security must expand to encompass the identification and control of AI actions in the future. Fasoo AI emphasizes minimizing damage after data breaches. As AI-based attacks become more sophisticated, it is increasingly unrealistic to prevent all breaches. Therefore, encryption is vital to ensure that even if data is leaked, attackers cannot access or exploit its contents. A Fasoo AI representative stated, "We protect data itself through our enterprise document and data encryption solution, FED (Fasoo Enterprise DRM), and our data identification and classification solution, FDR (Fasoo Data Radar)." SGA Solutions explains that AI-based attacks often target data theft, making database access management and control, as well as preventing lateral movement between servers, essential. An SGA Solutions representative noted, "To achieve this, it is important to strengthen micro-segmentation in server security and expand security frameworks based on zero trust architecture." However, there are concerns that the domestic security industry faces limitations in verifying actual threat levels and enhancing response systems. This is due to the difficulty in gaining direct access to restricted AI security research projects like Mythos. Consequently, domestic security companies must focus on strengthening their own AI security capabilities and automation systems.* This article has been translated by AI. 2026-05-11 16:27:26

Bibi releases special single Bumpa on May 20 SEOUL, May 11 (AJP) - South Korean singer-songwriter Kim Hyung-seo, known professionally as Bibi, will release a special single titled Bumpa on May 20. The upcoming track serves as her first musical release in exactly one year since her second studio album debuted in May 2025. Kim Hyung-seo is a prominent soloist in South Korea recognized for her distinct vocal style and narrative-driven songwriting. Since her debut, she has maintained a high degree of creative autonomy, frequently overseeing the production, lyrics, and composition of her entire discography. According to her agency Feel Ghood Music, the artist personally handled the writing and production for the new single. The song was first performed during her solo concert in March 2023, where the live version generated immediate demand for an official digital release. The agency stated that the studio version has been reimagined as a summer track with a new band arrangement. While the original performance featured Afrobeats elements, the new version emphasizes a more vibrant and energetic sound through live instrumentation. This release follows the commercial success of her 2025 album Eve: Romance and previous hits such as Bam Yang Gang and BIBI Vengeance. The singer-songwriter first gained international attention for her ability to blend R&B, hip-hop, and pop elements with unconventional storytelling. Bumpa will be available on all major music streaming platforms starting at 6:00 p.m. (0900 GMT) on May 20. 2026-05-11 16:25:44

Financial Commission Investigates EMR Firms' Refusal to Join Insurance Claim System The Financial Commission is investigating the collective refusal of certain electronic medical record (EMR) companies to participate in the digitalization of insurance claims, in collaboration with the Fair Trade Commission. This low participation from EMR firms, which play a crucial role in connecting hospitals and the Insured24 system, is seen as a delay in the system's expansion. At a meeting on May 11 in Jongno, Seoul, Kwon Dae-young, Vice Chairman of the Financial Commission, stated, "It is abnormal that, six months after the implementation of a system created after 14 years of discussion, the connection rate with hospitals remains at 29%, and some companies are collectively refusing to participate. The government will normalize this situation." The digitalization of insurance claims allows patients to submit invoices, receipts, detailed billing statements, and prescriptions to insurance companies through the Insured24 app without needing paper documents from hospitals. For this to work, the EMR systems used by medical institutions must be linked with Insured24. As of May 6, a total of 30,614 medical institutions were participating in the digital insurance claim system, including 827 hospitals, 3,573 public health centers, 12,875 clinics, and 13,339 pharmacies. The connection rate for Insured24, based on the total number of targeted medical institutions, stood at 29.0%. Approximately 3.77 million people are enrolled in the Insured24 service, with 2.41 million claims completed. The Financial Commission plans to monitor the progress of Insured24 monthly and aims to increase the connection rate to 80-90% in the second half of the year. Initially, they will examine whether the collective refusal of some EMR companies constitutes unfair practices in collaboration with the Fair Trade Commission. To encourage direct participation from medical institutions, the Financial Commission will introduce features such as displaying the number of claims per hospital on Insured24, allowing institutions to see the benefits of using the service. They will also launch a public campaign in collaboration with Naver and Toss, urging insurance policyholders to request connections with medical institutions. However, the Financial Commission anticipates that the connection rate will rise to 52% next month, following a recent decision by a major EMR company to join Insured24. Vice Chairman Kwon emphasized, "For the public to fully enjoy the benefits of digital insurance claims, the connection rate must approach 100%."* This article has been translated by AI. 2026-05-11 16:25:18

Godrej Industries Aims for $6 Billion Market Capitalization by 2031 Godrej Industries Group, a diversified Indian conglomerate, announced on May 7 its goal to achieve a market capitalization of 5 trillion rupees (approximately $6 billion) by 2031 through new strategies and brand identity initiatives. This target represents nearly a threefold increase from its market capitalization of $20 billion (about 3.13 trillion yen) as of the end of March this year. The group plans to list two of its subsidiaries over the next five years. Godrej Industries has recorded an annual growth rate of over 20% in revenue and net profit over the past five years. For the next five years, the group aims for an annual revenue growth rate of more than 15% and a 20% increase in earnings per share (EPS). Each business segment is expected to achieve a return on equity (ROE) of over 18%. The group also plans to increase its listed companies from the current three to five. Currently, its publicly traded subsidiaries include Godrej Consumer Products (FMCG), Godrej Properties (real estate development), and Godrej Agrovet (agriculture). Through these efforts, the group anticipates reaching a market capitalization of 5 trillion rupees within the next five years.* This article has been translated by AI. 2026-05-11 16:24:26

Finance Minister Gu Yoon-cheol Projects Over 2% Economic Growth This Year Finance Minister Gu Yoon-cheol projected that South Korea's economic growth rate will exceed 2% this year, driven by a semiconductor boom and increased exports. He expressed hope for a smooth resolution to the ongoing strike at Samsung Electronics, emphasizing the importance of not missing opportunities during this favorable period for the semiconductor industry. During a press briefing on May 11 at the Ministry of Economy and Finance in Sejong, Gu stated, "I expect this year's economic growth rate to surpass 2%. The exact extent will depend on the semiconductor boom and the impact of the conflict in the Middle East." He added that a specific growth rate forecast will be announced in the upcoming 'Second Half Economic Growth Strategy' report at the end of June. Gu provided a positive assessment of recent macroeconomic indicators, noting that the first quarter GDP grew by 1.7%, significantly exceeding market expectations. He also mentioned that South Korea's exports have risen from seventh to fifth in the world, surpassing Japan and Italy. Additionally, he highlighted a current account surplus of $73.3 billion in the first quarter, showcasing the growth potential of the South Korean economy compared to the previous record of $39.2 billion in the fourth quarter of 2025. However, he cautioned against overly optimistic views on economic recovery, stressing the importance of managing inflation and external risks. Gu acknowledged the uncertainties posed by the semiconductor market and the Middle East conflict, stating, "While the economic indicators are positive, the government will not become complacent. We will respond more meticulously to these challenges." He identified inflation as a pressing risk, assuring that the government will closely monitor living costs through special management and task forces. In light of high international oil prices due to the Middle East conflict, Gu mentioned price caps and fuel tax reductions as measures to combat inflation. He indicated that the price cap would remain in place until stability is restored in the region, and he is initiating revisions to the price stabilization law to implement effective sanctions against hoarding and profiteering, including rewards for reporting and penalties for unjust gains. He noted that the sustainability of these policies will depend on future oil price trends and the geopolitical situation in the Middle East. Gu reaffirmed the government's commitment to balancing supply expansion and demand management in real estate policy. Following the expiration of the temporary suspension of capital gains tax for multiple homeowners on May 9, concerns about a potential housing market freeze have arisen. He stated, "The government is coordinating with relevant agencies to expand supply and will manage demand until adequate housing supply is available." He emphasized that the government's demand management strategy focuses on helping first-time homebuyers acquire housing, shifting the perspective from profit-making to ensuring housing stability. Regarding the Samsung Electronics strike, Gu urged both labor and management to reach a peaceful agreement. He noted that the semiconductor sector is a key driver of export and growth forecasts, and labor disputes could hinder the industry's recovery. Gu expressed hope that the parties involved are working towards a resolution through the Central Labor Relations Commission, stating, "It would be unfortunate to miss opportunities during this critical time when the world is seeking semiconductor chips from Korea due to labor discord." On the stock market, Gu emphasized the need to address undervaluation rather than focusing on short-term overheating. He remarked, "Based on the price-to-book ratio, South Korean stocks are still undervalued compared to developed countries. Given the pre-orders made until next year, this reflects the perspectives of both global and domestic investors on the potential of our stock market." Gu maintained a cautious stance on inheritance tax reform, stating, "We are listening to various opinions regarding tax reform, but no decisions have been made at this time." He also commented on the government's sale of some NXC shares received as payment, noting that the shares were acquired at 5,534,000 won each and will be sold at 5,558,000 won, describing it as a successful transaction. The government expects to secure over 1 trillion won in non-tax revenue from this sale, contributing to foreign exchange market stability as NXC brings in foreign capital. Gu addressed concerns regarding the missed meeting with U.S. Treasury Secretary Scott Bansen, who is visiting South Korea on May 13 ahead of the U.S.-China summit. He disagreed with claims of 'Korea passing,' stating, "We are in constant communication with the U.S. Treasury. Unlike in the past, meetings do not have to be face-to-face, and we are regularly updated through communications between deputy ministers. Minister Kim Jeong-kwan recently visited the U.S., ensuring good cooperation with them on investment matters."* This article has been translated by AI. 2026-05-11 16:22:13