AJP Market Watch: AI boom runs into debt and FX markets in Korea, Japan SEOUL, May 22 (AJP) -Artificial intelligence is starting to look like a mixed blessing — at least for the currency and debt markets of Northeast Asia. Equity markets in both countries are on fire. The KOSPI is up more than 85 percent this year, the Nikkei 225 more than 22 percent. Both economies have outperformed expectations, with Japan's GDP expanding 2.1 percent on an annualized basis in the first quarter and Korea's 1.7 percent, as tech-heavy manufacturers ride the AI boom. But the robust headline numbers mask a colder reality the AI froth is hiding — dangerously high leverage, asset inflation, depopulation, energy shocks tied to heavy dependence on Gulf fuel sources, and stubbornly weak currencies. Overlooked by euphoric equity investors, debt yields are rising sharply across major economies as inflation fears, oil shocks and mounting public debt collide with overheated asset prices. Nowhere is that tension clearer than in South Korea and Japan — two export powers riding the AI wave while simultaneously confronting the return of inflation, currency weakness and bond-market stress. The warning signs are already visible. Korea's producer price index surged 2.5 percent month-on-month and 6.9 percent year-on-year in April, the sharpest pace since the aftermath of the 1998 Asian financial crisis. Petroleum and coal prices jumped 31.9 percent, while financial and insurance services rose 26.2 percent — the largest increase on record — as stock trading exploded during the AI frenzy. Brokerage commissions alone surged 119 percent as retail investors rushed into the market on fear of missing out. The KOSPI soared more than 85 percent between the end of 2025 and May 21, while consumer sentiment returned to optimistic territory despite accelerating inflation pressures. Japan is experiencing a parallel dynamic. The Nikkei 225 has climbed more than 22 percent this year alone, powered by AI-linked manufacturing, semiconductors and global capital flows seeking alternatives to slowing Western growth. At the same time, Japanese government bond yields have surged to levels unseen in decades as investors price in a more sustained exit from ultra-loose monetary policy. Japan's 10-year government bond yield climbed above 2.8 percent this week — its highest since 1996 — after stronger-than-expected economic growth reinforced expectations that the Bank of Japan may continue tightening. Thirty-year Japanese yields touched record highs dating back to 1999. Korea's 10-year yield simultaneously climbed above 4.1 percent, while five-year yields approached 4 percent. What links the two countries is not merely the AI rally itself, but the structural vulnerability hidden beneath it. Both Korea and Japan remain deeply dependent on imported energy, external demand and globally mobile capital. Both have allowed years of ultra-cheap liquidity to inflate financial assets. And both are now discovering that AI-driven wealth can quickly spill into inflation psychology, speculative behavior and currency instability. The shift is already feeding through markets. Foreign investors dumped a net 44.6 trillion won worth of KOSPI shares in May through May 21, after modest buying in April, according to Financial Supervisory Service data. Daily foreign selling reached nearly 2.94 trillion won on May 20 alone. The exodus has intensified pressure on the Korean won. The dollar-won exchange rate climbed from 1,483.3 won at the end of April to above 1,506 this week, before surging further intraday Friday toward 1,518 amid broad foreign selling and dollar strength. One-month forward rates also jumped, signaling expectations for further depreciation. That matters because neither Korea nor Japan imports inflation gently. Both economies rely heavily on imported oil, gas and raw materials. Brent crude remains more than 72 percent above end-2025 levels, while Dubai crude is still up more than 56 percent despite recent pullbacks. A weaker won and weaker yen therefore magnify energy costs directly into domestic producer prices, transportation costs and household inflation. And the AI boom itself is beginning to amplify those pressures. In Korea, semiconductor profits and stock gains are reshaping wage expectations across industries. Samsung Electronics and SK hynix bonuses are becoming reference points far beyond the chip sector, fueling broader compensation demands during an already inflationary period. Retail participation in equities has surged as households increasingly treat asset inflation as a substitute for income growth. Japan faces a different historical context but an increasingly similar outcome. After decades of wage stagnation, rising corporate profits and labor shortages are finally pushing salaries higher. But stronger wages combined with rising import costs are also complicating the Bank of Japan's long-awaited normalization process. The central banks now face a dilemma with no painless solution. If they keep policy loose, currencies may weaken further, feeding imported inflation and asset bubbles. If they tighten aggressively, they risk puncturing equity rallies and destabilizing heavily indebted governments and households accustomed to abundant liquidity. This is why the recent bond-market moves matter far beyond technical finance. Global investors are beginning to question whether the AI era can coexist indefinitely with the monetary assumptions of the post-2008 world — ultra-low rates, permanently suppressed bond yields and endless liquidity support. That skepticism is appearing simultaneously across markets. U.S. Treasury yields have climbed sharply amid inflation and debt concerns. German bund yields are approaching levels last seen during the eurozone sovereign debt crisis. British gilt yields are hovering near financial-crisis highs. Japan's long-dormant bond market is finally awakening. Korea's curve is steepening rapidly. Bond vigilantes — long absent during the era of quantitative easing — are returning globally. For Korea and Japan, the danger is particularly acute because both economies sit at the intersection of technology euphoria and external vulnerability. Their markets have grown increasingly dependent on foreign inflows, semiconductor optimism and weak currencies that support exports. But those same weak currencies now threaten to import inflation at precisely the moment asset markets appear most overheated. History shows these phases can persist longer than expected. Asset rallies often intensify even as financial conditions deteriorate underneath. The Asian financial crisis began not with recession, but with confidence and capital inflows. So did many liquidity booms before it. That does not mean a crisis is imminent. But it does mean the era of consequence-free liquidity is ending. The AI revolution may indeed reshape the global economy. But it will not abolish the basic laws of finance. Rising wages, weaker currencies, higher oil prices and surging asset values eventually collide with the bond market's demand for discipline. And that collision is beginning to unfold across Northeast Asia now. 2026-05-22 16:05:40

Korean farm income hits record on livestock rebound SEOUL, May 22 (AJP) - South Korean farm households earned an average of 54.67 million won ($36,017) in 2025, a record high driven by a sharp recovery in livestock and crop prices, while fishery households saw their incomes slide on weaker seaweed and abalone markets. According data of last year's farm and fishery household economy released by the Ministry of Data and Statistics on Friday, average annual farm income climbed 8.0 percent from a year earlier to 54.67 million won — the highest level since the ministry began compiling the data. Agricultural income alone surged 22.3 percent to 11.71 million won, powered by an 8.3 percent jump in gross farm receipts that outpaced a 3.4 percent rise in operating costs. Livestock revenue soared 28.5 percent, while crop revenue edged up 1.1 percent. "Farm receipts had temporarily contracted in 2024 due to falling rice and livestock prices, but prices rebounded last year and pushed receipts back into growth," said the Ministry of Agriculture, Food and Rural Affairs, adding that firmer prices for certain fruit crops also lifted the headline figure. Transfer income, which includes government subsidies, rose 9.1 percent to a record 19.89 million won on the back of higher direct payments to farmers and an increase in the maximum monthly basic pension to 342,510 won. By farming type, livestock households led the gains with income jumping 64.0 percent to 88.39 million won, followed by fruit growers and rice farmers, while vegetable producers saw a 3.2 percent decline. Fishery households, by contrast, posted average income of 58.98 million won, down 7.3 percent from a year earlier as what the ministry explained as base effect from 2024's record seaweed prices unwound and abalone prices weakened. Fishery income tumbled 31.6 percent to 19.06 million won, with aquaculture revenue plunging 26.3 percent even as catch-based revenue rose 9.0 percent. Average farm household assets reached 662.85 million won at the end of 2025, up 7.6 percent, while debt rose 6.0 percent to 47.71 million won, reflecting increased borrowing tied to smart farm investments and policy-loan deferrals for disaster-hit producers. 2026-05-22 15:54:16

Samsung tops US customer satisfaction index for mobile phones SEOUL, May 22 (AJP) - Samsung Electronics secured the top position in a major U.S. consumer satisfaction survey for mobile phones, slightly ahead of rival Apple Inc.. The South Korean tech firm scored 81 out of 100 in the overall mobile phone category of the 2026 American Customer Satisfaction Index (ACSI) study, which was released on Tuesday. Apple, which shared the top position last year, slipped one point to 80, while Google and Motorola tied for third with 77 points each. The survey polled approximately 30,000 U.S. consumers between April 2025 and March 2026. Among specific device features, basic communication functions such as calling and text messaging received the highest satisfaction score of 86. A newly added "mobile AI" category tied for second at 85, indicating that consumers weigh artificial intelligence performance as heavily as standard communication capabilities. In the flagship device segment, Samsung scored 84, leading Apple at 82. The two companies tied for first place in the smartwatch category, both earning 80 points. Separately, U.S. consumer advocacy publication Consumer Reports ranked Samsung's Galaxy S26 Ultra as its top smartphone with an overall score of 88 in April. 2026-05-22 15:51:02

State-backed investment fund sparks frenzy as retail investors flood in SEOUL, May 22 (AJP) - A government-backed fund to invest in key strategic industries sparked a buying frenzy, with its online allocations selling out within minutes as soon as it became available on Friday. The fund, designed to invest in advanced industries such as artificial intelligence (AI) and semiconductors as part of President Lee Jae Myung's push to shift household assets away from heavy reliance on real estate and into the stock market, attracted strong demand from retail investors, who were drawn by tax incentives and a government-backed loss-sharing structure. Online offerings at some brokerages sold out within several minutes after sales began at 8 a.m., with banks and securities firms also seeing heavy demand both on mobile apps and in person. "We opened nearly 10,000 accounts for the fund in a single day," a staffer at a major brokerage in central Seoul said. "This morning alone, all online offerings were sold out within just 10 minutes." The staffer added that crowds had begun gathering early in the morning to open accounts for the fund, forming long waiting lines. Another brokerage also saw more than one-fifth of its 20 billion won ($14.5 million) allocation sold online within minutes after sales began at 8 a.m. Major banks including Shinhan and Woori said their mobile allocations sold out in the morning, while some branches saw customers lining up even before opening hours to sign up for the fund. "It feels more reliable because the government is involved," said a woman surnamed Bae in her 50s who visited a Korea Investment & Securities branch in Seoul's financial district of Yeouido to sign up for the fund. She said the product appealed to her because it was easier to manage alongside her daily job than short-term stock trading. "It feels more secure because the government is involved," said a woman in her 50s surnamed Bae, who visited a Korea Investment & Securities branch in Seoul's Yeouido financial district to sign up for the fund. She said the product also appealed to her because it was easier to manage alongside her daily job than short-term stock trading. The fund will be sold on a first-come, first-served basis over the next three weeks until June 11. To qualify for tax benefits, investors must be at least 19 years old and open a dedicated account used exclusively for the fund. Those who have been subject to South Korea's comprehensive income tax at least once in the past three years are not eligible to open such accounts. The fund aims to raise 600 billion won (US$435 million) from retail investors, along with 120 billion won in government funding. The combined assets will be allocated across 10 separate funds investing in strategic industries, with the government covering up to 20 percent of losses, though investors can still lose money. Financial regulators warned that the fund is a high-risk investment product, requiring investors to pass suitability assessments before investing. Despite the risks involved, demand appeared to surge as the fund offers tax benefits such as dividend income and income tax deductions. 2026-05-22 15:50:34

AJP Focus: Divided Samsung faces critical capex test in the AI era SEOUL, May 22 (AJP) - Samsung Electronics by March has reclaimed the top position in the global memory oligopoly after falling behind local rival SK hynix in the early race for artificial intelligence infrastructure chips, particularly high bandwidth memory (HBM). But whether the Korean tech giant can maintain that lead during the rest of AI supercycle is becoming increasingly uncertain as the company sinks deeper into internal wage conflict and spiraling compensation costs. At a moment when the global semiconductor war demands unprecedented unity and investment discipline, Samsung instead finds itself pulled apart by a widening internal divide between winners and losers of the AI boom. The contrast with its global rivals is becoming difficult to ignore. Taiwan Semiconductor Manufacturing Company and Micron Technology are aggressively channeling resources into massive capital expenditure plans aimed at dominating the next generation of AI chips, advanced packaging and memory production. Samsung, by comparison, is increasingly consumed by operational expenditure disputes, labor unrest and a rare collapse of solidarity inside one of Asia’s most tightly managed corporate empires. At the center of the tension lies an extraordinary compensation gap emerging inside the company itself. Industry estimates suggest employees in Samsung’s semiconductor Device Solutions (DS) division — now the company’s profit engine amid the AI boom — could receive as much as 600 million won ($438,000) this year in combined bonuses and incentives. Meanwhile, workers in the Device eXperience (DX) division, which oversees smartphones and home appliances, are expected to receive roughly 6 million won. A 100-fold disparity inside the same corporation has triggered deep resentment across the company. The fallout is already reshaping Samsung’s labor landscape. More than 4,000 employees from the DX division reportedly left the National Samsung Electronics Union over the past month, with many joining the rival Donghaeng union, whose membership has surged from around 2,600 to over 12,000 as non-memory workers seek more aggressive representation. “I don’t understand why there is such an extreme divide and discrimination within the same company,” a DX division official familiar with the matter told AJP on condition of anonymity. “We have to do whatever we can on our end to protect our interests.” What once functioned as a unified corporate system is beginning to fracture under the pressures of the AI economy. For decades, Samsung operated under a model where stronger divisions effectively subsidized weaker ones, allowing the conglomerate to incubate new businesses, preserve employment stability and maintain cohesion across sprawling operations. That model worked during the industrial manufacturing era when long investment cycles and centralized management rewarded internal discipline. But artificial intelligence is changing the economics of the semiconductor business. The AI boom disproportionately rewards a narrow set of high-margin technologies — especially HBM memory, advanced foundry processes and AI packaging — while leaving slower-growing consumer electronics divisions struggling to justify equal compensation structures. Silicon Valley-style winner-takes-all capitalism is colliding head-on with Samsung’s traditional top-down manufacturing culture. And the financial consequences could become severe. Foreign investors and analysts increasingly warn that Samsung’s internal fragmentation is becoming a strategic vulnerability rather than simply a labor-management dispute. According to a recent J.P. Morgan analysis, fully accommodating union demands could add as much as 39 trillion won in labor costs. Analysts estimate that such surging operational expenditures could reduce Samsung’s operating profit by up to 12 percent, potentially cannibalizing the capital expenditures needed to maintain technological leadership in extreme ultraviolet lithography, HBM production and advanced packaging. That tradeoff — between rewarding labor and funding future technology — may become one of the defining corporate dilemmas of the AI era. Unlike previous semiconductor cycles, the current AI arms race requires relentless investment speed. Delays in securing advanced equipment, expanding clean-room capacity or building next-generation packaging infrastructure can quickly translate into lost market share. Samsung’s rivals are moving aggressively precisely because they recognize the narrowness of the window. TSMC recently sold an 8.1 percent stake in Vanguard International Semiconductor to secure approximately 1.2 trillion won ($870 million) in additional funding for advanced AI packaging facilities. Micron Technology, meanwhile, is pushing ahead with a $20 billion capital expenditure plan this year largely free from labor friction or internal political constraints. The contrast is stark: although Samsung outpaced its rivals with massive first-quarter capital expenditures to reclaim its memory lead, the company increasingly finds itself debating wealth allocation while competitors remain focused on capital allocation. That distinction matters because investors ultimately reward technological dominance, not internal compromise. The danger for Samsung is not merely higher wage costs themselves. It is the possibility that internal distrust begins eroding the organizational cohesion required to compete in a capital-intensive industry where speed, secrecy and long-term strategic coordination are critical. Semiconductor leadership has historically depended not only on engineering excellence, but also on corporate unity during periods of enormous financial stress. Taiwan’s semiconductor ecosystem operates with near-national strategic alignment. U.S. chipmakers benefit from deep capital markets and shareholder tolerance for aggressive reinvestment. Samsung now risks becoming trapped between both systems — pressured simultaneously by shareholders demanding profitability and employees demanding redistribution of AI windfalls. Experts say the company may ultimately be forced to rethink its entire structure. “There appears to be significant internal dissatisfaction, but resolving it is difficult since the company cannot distribute bonuses to everyone,” said Kim Duk-ki, a professor at Sejong University. “This is a structural characteristic of Samsung. In the past, cross-subsidizing loss-making divisions helped the company continuously incubate new businesses, but looking ahead, they might have to consider spinning off divisions.” Such discussions would once have been almost unthinkable inside Samsung. But the AI era is beginning to challenge assumptions that defined the conglomerate for decades: centralized hierarchy, lifetime-style loyalty and broad internal redistribution. The more profits become concentrated in a handful of AI-related businesses, the harder it becomes to preserve cohesion across divisions moving at vastly different speeds. In many ways, Samsung’s internal conflict mirrors a broader transformation now unfolding across the global economy. Artificial intelligence is generating extraordinary wealth — but unevenly. Companies, sectors and workers directly tied to AI infrastructure are capturing disproportionate rewards, while others struggle to keep pace. That imbalance is beginning to reshape labor expectations, compensation systems and even corporate identity itself. For Samsung, the stakes are particularly high because the company sits at the center of South Korea’s economic model. Its ability to sustain investment leadership in semiconductors affects not only shareholders and employees, but also the country’s exports, currency stability and technological competitiveness. The question is no longer whether Samsung can generate profits from AI. It is whether the company can remain institutionally unified long enough to deploy those profits effectively in the global chip war. 2026-05-22 15:48:45

French-South Korea chamber unveils anniversary book at National Assembly SEOUL, May 22 (AJP) - The French-South Korea Chamber of Commerce and Industry launched its 40th anniversary commemorative book at the National Assembly in Seoul, signaling a deepening of economic ties as the two nations mark 140 years of diplomatic relations. The exclusive reception gathered approximately 80 diplomats, lawmakers, and business leaders to celebrate the historical evolution of the bilateral partnership. The event, organized with the support of the South Korea-France Parliamentary Friendship Association, comes ahead of a major operational expansion for the business group. The chamber announced it will open its own standalone building, the French South Korea EcoMaison, in the Gangnam district of Seoul this September. The new multifunctional facility will be fully dedicated to supporting the corporate community. During the ceremony, South Korean officials and French representatives emphasized the importance of continued cross-border cooperation in innovation, culture, and commerce. Na Kyung-won, the chair of the parliamentary friendship association, delivered opening remarks alongside French Ambassador Philippe Bertoux and chamber Chairman David-Pierre Jalicon. Park Young-sun, the former minister of small and medium enterprises and startups, followed the speeches with a celebratory toast. The commemorative publication retraces the history of bilateral relations, tracing the timeline from the 1886 Treaty of Friendship and Commerce to modern strategic partnerships. It highlights collaboration across several key sectors, including artificial intelligence, biotechnology, mobility, and green energy. Jalicon praised the contributors at the event, noting that the volume reflects the long-term dedication of the local business community. "This year should not only be an achievement, but the renewal of our ambition," Jalicon said regarding the upcoming Gangnam hub. He added that the new facility will serve as a dynamic space for future collaborative projects between the two countries. Ambassador Bertoux also stressed the global potential of the partnership, stating that the shared economic dynamism of both nations will position them to play an increasingly important role on the international stage. The diplomatic event concluded with a special celebration performance by the Orchestre national Auvergne-Rhone-Alpes. 2026-05-22 15:33:20

K-pop band BTS performs for 152,000 fans at Stanford Stadium SEOUL, May 22 (AJP) - K-pop legend BTS has performed for about 152,000 fans over three days at Stanford Stadium in the United States, drawing large crowds that waved South Korean flags and sang in Korean. The performances on May 16, 17, and 19 were part of the "BTS WORLD TOUR 'ARIRANG' IN STANFORD". The concerts highlighted the group's presence in the global music scene, as they became the second musical act to headline the venue since it opened in 1921, following Coldplay. During the performance of "Body to Body" from the "ARIRANG" release, the melody of the traditional folk song "Arirang" played through the stadium. The audience responded by simultaneously raising South Korean flags they had prepared in advance and singing the Korean lyrics in unison. The group addressed the crowd to acknowledge the coordinated display. "We are having the best moment of our lives right now," BTS said. "We were truly moved by the event you showed us. We will remember every single moment. We want to say thank you and promise to meet again." BTS will continue their tour with four concerts at Allegiant Stadium in Las Vegas on the 23rd, 24th, 27th, and 28th. The group is also scheduled to attend the American Music Awards at the MGM Grand Garden Arena at 5 p.m. on the 25th. 2026-05-22 15:02:06

South Korea bans travel to more parts of Congo as Ebola outbreak spreads SEOUL, May 22 (AJP) - A highest-level travel warning has been expanded to more parts of the Democratic Republic of the Congo (DRC) as Ebola infections continue to spread, the Ministry of Foreign Affairs said Friday. Taking effect from 2 p.m., travel to Ituri Province has been banned under the highest level of the four-tier overseas travel advisories amid a recent rise in Ebola-related deaths there, expanding the no-travel zone to three provinces including North Kivu and South Kivu in the African country. According to the ministry, hundreds of Ebola cases and suspected infections have been reported in Ituri and North Kivu provinces, with more than 100 deaths already confirmed. South Koreans who visit or remain in these areas without special permission could face penalties. The ministry also issued a lower, second-highest warning for several areas near the border including Bas-Uélé and Haut-Uélé, urging those staying there to leave. The latest outbreak of the deadly virus involves the Bundibugyo strain, which has no approved vaccine or treatment, and the World Health Organization (WHO) has declared it a public health emergency of international concern. According to estimates by the U.K.-based Medical Research Council (MRC), the number of infections may already exceed 1,000 including cases still in the incubation period. 2026-05-22 15:00:43

Samsung Biologics wins court penalty against union strike SEOUL, May 22 (AJP) - A South Korean court has ordered Samsung Biologics' labor union to pay 20 million won ($13,196) every time it violates an injunction restricting strike action at sensitive bioreactor lines, escalating a legal standoff at the world's largest contract drugmaker. Reports on Friday said the Incheon District Court granted Samsung Biologics' application for indirect compulsion against the union. The ruling reinforces an earlier injunction that bars union leaders from directing members on certain essential production lines to stop work or from circulating related instructions. The court had initially declined to attach financial penalties to the March injunction after the union pledged to abide by it. That pledge unraveled on April 27, when union leadership distributed a "strike guidance procedure" to members and roughly 300 employees assigned to court-restricted processes joined the subsequent walkout, prompting the company to refile. Samsung Biologics had sought 100 million won per violation, but the court awarded a fifth of that amount. "The union must not, during the period of industrial action based on the March 29, 2026 strike vote, instruct members to halt court-designated processes or distribute related guidelines," the bench said in its order. Industry observers said the decision underscores the unique vulnerability of biologic drug manufacturing, where even brief stoppages at fermentation or purification stages can spoil raw materials and finished products worth hundreds of millions of dollars. The company is separately appealing to expand the injunction's scope to cover its entire production footprint. The Samsung Biologics dispute stands apart from the wage standoff at affiliate Samsung Electronics, where its union on Wednesday suspended an 18-day general strike that had been scheduled to begin Thursday and run through June 7. Union members at Samsung Electronics will vote on the tentative wage agreement from Friday through May 27, while Samsung Biologics remains locked in litigation over the scope and enforcement of its own injunction. 2026-05-22 14:17:07

South Korean researchers discover limits of carbon conversion catalyst models SEOUL, May 22 (AJP) - Researchers from Korea Advanced Institute of Science and Technology and Korea University have identified limitations in theoretical models used to design catalysts that convert carbon dioxide into high-value chemicals. The joint research team found that current evaluation methods do not fully explain how complex compounds are formed, the prominent institute based in the central city of Daejeon said Thursday. The scientists tested the accepted theory that matching the electronic properties of a catalyst to those of copper would allow it to produce multi-carbon compounds such as ethylene and ethanol. Copper is currently the only metal known to efficiently drive this specific carbon conversion process. To test the theory, the team created a three-metal alloy using gold, silver and palladium that mimicked the key electronic indicators of copper. Despite sharing these electronic traits with copper, the new alloy failed to produce complex multi-carbon compounds and generated only simpler substances like carbon monoxide. This result demonstrates that the electronic properties of a catalyst alone do not determine its performance in complex chemical reactions. The researchers concluded that the physical arrangement of atoms on the surface of the catalyst plays an equally critical role. Converting captured carbon dioxide into usable fuels and plastic feedstocks using electricity is a central technology for achieving carbon neutrality. While existing metrics are sufficient for predicting simple chemical reactions, this study indicates that finding highly efficient alternatives to copper will require a more comprehensive design approach. The findings were published in the May 2026 issue of Nature Catalysis. "This research shows that existing catalyst theories alone cannot sufficiently explain complex multi-step carbon conversion reactions," Professor Oh Ji-hoon said. "In the future, a new catalyst design strategy that considers both electron properties and local atomic arrangement is needed." (Reference Information) Journal/Source: Nature Catalysis Title: Peaks and pitfalls of electrocatalytic CO2 reduction descriptor models Link/DOI: https://bit.ly/3Px7o90 2026-05-22 14:00:59