One-Third of Rail Promises Not Included in National Plan, Misleading GTX and CTX Pledges As local elections approach, candidates for regional leadership positions are unveiling numerous rail-related promises. Many of these proposed new routes are not reflected in the current national railway network plan. On May 28, a review of 108 pledges from 21 candidates that included rail-related items found that 33 of these (34.4%) are new promises not included in the fourth national railway network construction plan. This analysis excluded 12 items that were not clearly defined, such as transfer centers and simple stop requests. The fourth national railway network plan is the highest legal framework for rail projects, and only projects included in this plan can proceed to preliminary feasibility studies and basic plan development. Routes not currently in the plan must first pass through the fifth plan approval process. A prominent example of misleading promises is the expansion of the GTX (Great Train Express). While Line A has been opened and Lines B and C are under construction, only the western section of Line D has been included as a new project in the fourth plan and has passed the preliminary feasibility study. Lines E, F, G, and H are not part of the fourth plan, making their inclusion in the fifth plan a prerequisite. Candidates like Choo Mi-ae from the Democratic Party and Yang Hyang-ja from the People Power Party have promised Lines E and F, with Choo also including G and H in her pledges. Several candidates have also proposed extensions to existing routes. Yoo Jeong-bok, the People Power Party candidate for Incheon mayor, suggested extending the newly included Daechang-Hongdae line towards Cheongna and Gyeyang. Unlike the main line, these extensions lack planning justification and require separate feasibility studies and funding. In the Chungcheong region, the CTX (Chungcheong Regional Express Railway) promises also represent another form of misleading pledges. The fourth plan includes a new project for the Daejeon-Sejong-Chungbuk line. Kim Tae-heum, the People Power Party candidate for Chungnam governor, has promised to establish new lines from Sejong to Cheonan-Asan and Sejong to Gongju. However, experts in the rail industry warn that differing routes, project methods, and funding structures could necessitate re-evaluation, making these separate projects. The situation is similar outside the capital region. The People Power Party's Kim Du-gyeom, a candidate for Ulsan mayor, has proposed the Ulsan-Yangsan-Busan metropolitan railway and the southeastern circular metropolitan railway, both of which are included as new projects in the fourth plan. In contrast, the TRX proposed by Jeon Jae-soo, the Democratic Party candidate for Busan mayor, and the Gyeongnam governor candidate Kim Kyung-soo's Nahae-gwon metropolitan express railway (GTX-G, Busan-Jinju) are not part of the fourth plan, requiring fifth plan approval before construction can begin. Even routes included in the fourth plan vary significantly in feasibility. Some newly included projects are still awaiting preliminary feasibility studies, while others require further business viability assessments. Industry experts emphasize that the effectiveness of rail pledges should be judged not by route names but by their inclusion in the fourth and fifth national railway network plans, as well as their success in passing feasibility studies and private investment eligibility assessments. Go Jun-ho, a professor of urban engineering at Hanyang University, noted that rail projects directly impact citizens' lives and property rights, making them a recurring issue during elections. However, he stressed that local governments cannot fund these projects alone and must rely on central government plans, highlighting the need for alignment with national strategies. He added that there is a significant difference in feasibility between projects already included in national plans and entirely new promises, urging candidates to transparently explain the current status and administrative limitations of their proposed projects. 2026-05-28 16:18:00

Conflict Escalates Between Kim Kwan-young and Democratic Party Over Election Issues In response to the results of the Democratic Party's primary for the Jeonbuk governor race, independent candidate Kim Kwan-young's camp criticized the leadership of Jeong Cheong-rae on May 28, stating that their negative tactics resemble a low-quality drama. The Democratic Party has retaliated by labeling Kim as someone who was expelled for allegations of cash distribution, intensifying the conflict between the two sides. Kim's election campaign committee released a statement claiming, "The negative tactics of Jeong Cheong-rae's leadership, in an attempt to counter the Kim Kwan-young surge, evoke images of a low-quality drama that cannot be tolerated. It is not too late to reflect on why the public sentiment in Jeonbuk is shifting against the ruling party." They further asserted, "The slander and distortion tactics employed by Jeong Cheong-rae's leadership have reached an intolerable level. The individuals responsible for turning this election into a mudslinging contest are the candidates like Lee Won-taek, who were accused of colluding with insurrectionists, along with Jeong Cheong-rae's leadership." Regarding recent speculation about prior communication between Kim and President Lee Jae-myung, the committee stated, "Kim has never claimed to have spoken with the president. We question who is manipulating the situation by dragging the president into the election." In response, the Democratic Party issued sharp remarks through spokesperson Han Min-soo and Secretary-General Jo Seung-rae. Spokesperson Han stated, "The act of cash distribution committed by Kim is a serious violation that cannot simply disappear. It is time to stop gambling the future of Jeonbuk on Kim's political maneuvers. Apologizing and resigning today would be the right thing to do for the people of Jeonbuk." Secretary-General Jo also addressed reporters in the National Assembly, asserting, "Kim is a person who was expelled by the Democratic Party for distributing cash. He continues to act as if he is a political victim while rationalizing his independent candidacy by leveraging President Lee."* This article has been translated by AI. 2026-05-28 16:16:00

Democratic Party Claims Lee Won-taek Surpasses Kim Kwan-young in Polls The Democratic Party stated on May 28 that a recent poll showing Lee Won-taek with higher support than independent candidate Kim Kwan-young reveals the latter's ongoing portrayal as a political victim. The party also criticized former Presidents Lee Myung-bak and Park Geun-hye, asserting that the public would likely view them unfavorably due to their legal troubles and impeachment. During a press conference at the National Assembly, Cho Seung-rae, the party's secretary-general, introduced a poll conducted over two days starting May 26, which indicated that Lee Won-taek was leading Kim Kwan-young. "It is clear that Kim Kwan-young is someone who was expelled from the Democratic Party for distributing cash," Cho said. "He has been pretending to be a political victim, and this essence has now been revealed." Cho further noted that Kim even attempted to justify his candidacy by invoking President Lee Jae-myung, despite an official denial from the Blue House. He expressed concern that anger among residents of Jeolla Province might be growing over the situation, suggesting that support for Lee Won-taek would increase as voters prioritize regional development. Additionally, Cho addressed the recent campaign activities of former Presidents Lee Myung-bak and Park Geun-hye, stating, "The majority of the public will likely evaluate them very harshly." He pointed out their past legal issues and the disappointment they caused during their presidencies, implying that their involvement in the campaign may not be well-received. Cho also expressed skepticism about the possibility of unifying with the Justice Innovation Party in the Pyeongtaek constituency, stating that discussions had concluded with the realization that unification was not feasible at this time.* This article has been translated by AI. 2026-05-28 16:16:00

K-Bio Gains Global Attention at Major Conferences with Cancer, Obesity, and Diabetes Advances The global pharmaceutical and biotechnology industry is entering a peak season as major conferences commence. K-Bio aims to share clinical results on the world stage and pursue significant deals with global pharmaceutical companies.According to industry sources, the European Association for the Study of the Liver (EASL) kicked off in Barcelona, Spain, on May 27, followed by the American Society of Clinical Oncology (ASCO) in Chicago on May 29, and the American Diabetes Association (ADA) conference set for June 5.Numerous K-Bio companies are participating in these conferences to showcase their clinical data and enhance their global presence. There is growing optimism in the industry, particularly in the fields of cancer treatment and therapies for obesity and diabetes.At ASCO 2026, the world's largest cancer conference, companies presenting clinical results orally are gaining attention. Oral presentations are prestigious sessions where only top research is selected from global submissions.GI Innovation plans to present abstracts on its next-generation immuno-oncology candidate, GI-101A, both as a monotherapy and in combination with Keytruda. The company reported encouraging anti-cancer activity and tolerability in Phase 1 and 2 trials for both treatment approaches, noting that anti-cancer activity tends to increase with higher doses of GI-101A.VigenCell will formally present the results of its Phase 2 clinical trial for the immune cell therapy VT-EBV-N. This marks the first instance of a domestic company having its cell therapy clinical data accepted for a formal oral presentation at ASCO. Additionally, the medical AI firm Lunit will unveil five research results utilizing its AI biomarker platform, Lunit Scope, at ASCO 2026.D&D Pharmatech is set to present the results of its Phase 2 study on the GLP-1 and glucagon dual-action MASH treatment, DD01, at EASL 2026. This study has been selected for a late-breaking abstract (LBA) presentation, which is reserved for the most significant recent research deemed academically important after the regular abstract submission period. The company plans to reveal top-line data, including liver tissue biopsy results after 48 weeks of treatment, which has led to a surge in D&D Pharmatech's stock price, closing at its upper limit on May 27.At ADA 2026, new candidates for obesity treatments are expected to be unveiled. Hanmi Pharmaceutical will present eight research results on two obesity drug candidates from June 5 to 8 in New Orleans, USA.The candidates to be disclosed include the innovative obesity treatment LA-UCN2 and the next-generation muscle-enhancing treatment LA-MSTN. Notably, the peptide-based myostatin inhibitor HM500197 will be introduced for the first time. Additionally, Inventis Labs will present non-clinical research results on its long-acting injectable (LAI) formulation, IVL3021, based on semaglutide.A pharmaceutical industry representative stated, "The participation of companies in key presentation slots at consecutive global conferences demonstrates that K-Bio's clinical capabilities have reached a world-class level. Particularly, cancer, obesity, and diabetes treatments represent massive markets worth hundreds of trillions of won, raising expectations for future technology licensing fees and royalty revenues for companies."* This article has been translated by AI. 2026-05-28 16:16:00

Kookmin University student racing team KORA unveils EV ahead of international competition SEOUL, May 28 (AJP) - Kookmin University student racing team Kookmin Racing (KORA) unveiled its new electric formula vehicle, F-26, during a launch ceremony on campus in Seoul, South Korea, ahead of an international engineering competition, Kookmin University said Thursday. KORA will participate in the 2026 Formula SAE Electric, an international student vehicle design competition hosted by SAE International (SAE). The event will take place from June 16 to June 20, 2026, at the Michigan International Speedway in the United States. KORA previously achieved a global fourth-place and Asia first-place finish at the 2015 event. During the ceremony held on May 27, 2026, the team conducted a test drive of the F-26, demonstrating its cornering performance and overall engineering to attending university officials, faculty and students. "The F-26 vehicle is an electric formula car developed with the goal of optimal stability and consistent performance based on our past experience participating in the competition," Cho Hyun-sung, project manager for KORA, said. "We will prove our preparation and efforts on the world stage with results." "KORA is a team with sufficient skills, so if they succeed in finishing the race based on the vehicle's stability, we can expect top-tier results," Shin Sung-hwan, dean of the College of Automobile and Mobility, said. "I hope the vehicle the students created with their best efforts completes the race stably on the international stage and leads to good results," Na Chang-soon, vice president of academic affairs, said. "Above all, I hope the entire process of participating in the competition concludes safely." 2026-05-28 16:15:01

Social Welfare in the AI Era Must Uphold Human Dignity The Asan Social Welfare Foundation hosted an academic symposium to discuss key social welfare issues in the age of artificial intelligence (AI). Experts predict that as the use of AI in social welfare expands, the importance of empathy, relationship building, and ethical judgment among people will increase.Celebrating its 49th anniversary this year, the Asan Social Welfare Foundation held the symposium on May 28 at the Asan Policy Institute in Jongno, Seoul, inviting academic experts to discuss "Innovation in Social Welfare in the AI Era."In his opening remarks, Jung Mong-joon, chairman of the Asan Foundation, emphasized, "As the use of AI in social welfare expands, empathy, relationship building, and ethical judgment will become increasingly important. We must not lose sight of 'human dignity' in the process of utilizing advanced AI."During the symposium, three researchers, selected from ten recipients of the foundation's academic research support program last year, presented their findings.Hwang Kwang-seon, a professor at Gachon University, discussed the ethical issues and limitations of AI in social welfare, highlighting the need for effective guidelines that emphasize human responsibility and professional oversight.Kim Hyun-jung, a professor at Dong-A University, presented on the introduction of AI in welfare administration and policy outcomes, comparing the integration of welfare data in Estonia and the UK, and proposed strategic models for a Korean AI welfare system.Oh Young-sam, a professor at Pukyong National University, addressed the question, "How far can AI replace social welfare?" He focused on preserving the uniquely human domains of ethical judgment and emotional connection, presenting effective social welfare practice models.As the world accelerates digital transformation across various industries, including manufacturing, healthcare, transportation, finance, and marketing, the symposium participants agreed that while AI can be partially integrated into social welfare, the areas requiring ethical judgment and emotional connection must be preserved.* This article has been translated by AI. 2026-05-28 16:14:00

Coupang Fulfillment Expands Program for Specialized High School Graduates Coupang Fulfillment Service (CFS) is expanding its work-study program, allowing recent high school graduates to pursue careers as logistics experts while continuing their education.On May 27, CFS announced it hosted an information session at Yeungnam University in Daegu for local specialized high school teachers and students.The program offers a hiring process where participants can start working after graduating high school, transition to full-time positions after about a year, and earn an associate degree. This pathway allows them to become automation engineers or team captains (site managers) up to two years faster than the traditional route of attending college before entering the workforce.To alleviate financial burdens, the work-study program at Yeungnam University is conducted entirely online. It provides a 50% tuition subsidy for the first semester and a 30% scholarship from the second semester until graduation.Students from vulnerable backgrounds, such as low-income families and single-parent households, can receive full tuition support through national scholarships.CFS has also introduced measures to ease the military service burden for job-seeking youth. If participants enlist after transitioning to full-time positions, their service will be classified as a 'military leave' without termination, and their service time will be recognized as work experience upon returning.During the information session, three current employees shared their experiences, highlighting cases where they were promoted to full-time positions and became the youngest team captains just three months after joining the company.Jung Sol-hee, a 2026 Yeungnam University electrical automation major, stated, "I appreciate being able to achieve financial independence right after high school while studying online for my degree."Lee Min-gun, a 2026 major in smart convergence machinery at the same university, expressed pride in working for a company that offers management opportunities based solely on ability, regardless of age.Yoon Tae-hyun, also a 2026 electrical automation major, noted, "I plan to enlist in two years, and it reassures me that I can continue to grow at Coupang without worrying about my career after my service."Park Soo-hyun, CFS Chief Human Resources Officer (CHRO), emphasized, "The work-study program is a win-win model that allows young talents who have graduated high school to enter the workforce early and build their careers while achieving their academic dreams. We will actively expand this recruitment to help local youth grow into global logistics experts within Coupang's advanced logistics system."In addition to talent development, CFS is also focusing on enhancing workplace safety. On April 23, the company conducted tailored safety training for about 20 employees from its Jeolla Gwangju Centers 1 and 3 at the Damyang Safety Experience Education Center.Key personnel, including center managers, automation team members, team captains, and forklift operators, participated in theoretical training followed by immersive virtual reality (VR) experiences. They practiced scenarios involving forklift and pedestrian collisions, conveyor belt entrapments, ladder falls, electrical shocks, and truck collisions.* This article has been translated by AI. 2026-05-28 16:14:00

DAXA Implements Standards to Prevent Misuse of API Keys The Digital Asset Exchange Association (DAXA) has developed standards to prevent the improper lending of API keys by users of virtual asset exchanges. This initiative comes in response to reports of API keys being misused for unfair trading practices, such as market manipulation, highlighting the need for user protection and market order.According to DAXA, the new standards were created in collaboration with its member companies and following discussions with the Financial Supervisory Service.An API key allows users to connect external programs to access exchange features such as price and balance inquiries, order placements, and fund transfers. Recently, there have been instances where some users lent or shared their API keys, leading to unfair trading activities.The standards outline a tiered response to suspected improper lending of API keys, based on the level of risk identified. Member companies can implement measures such as enhanced monitoring, warning notifications, re-verification of user identity, and forced expiration of API keys.The plan also includes strengthening security measures. Member companies will adopt a whitelist IP system, allowing API key access only from pre-registered IP addresses.Kim Jae-jin, DAXA's Executive Vice President, stated, "The establishment of these standards is part of our member companies' efforts to fundamentally eliminate unfair trading. We will take necessary actions to swiftly address various emerging threats and prioritize user protection."* This article has been translated by AI. 2026-05-28 16:14:00

Korea Technology Guarantee Fund Hosts Event in Silicon Valley to Expand Startup Ecosystem The Korea Technology Guarantee Fund announced that it hosted the 'Global K-Venture Finance Mixer' at the Startup Venture Campus (SVC) in Silicon Valley, California, to provide financial support for domestic ventures and startups in the U.S. on May 28. This event was a follow-up to a memorandum of understanding signed in January between the Korea Technology Guarantee Fund and Hanmi Bank. It aimed to address challenges faced by domestic startups entering the U.S. market, including funding, investment attraction, and establishing local financial infrastructure. The event also aimed to expand connections with the local startup ecosystem through collaboration with the Stanford Consumer Accelerator Program (SCAP). Lee Jang-hoon, the Deputy Director of the Small and Medium Business Administration at the Korean Consulate in San Francisco, stated in his opening remarks, "This year, the consulate has been designated as a hub for export contracts, science and technology, and K-beauty. We will work with relevant agencies to effectively improve the support system for deep-tech startups and promote K-initiatives." During the event, Hanmi Bank shared practical know-how on establishing accounts, using credit cards and checks, and other financial foundations necessary for startups facing difficulties in their initial U.S. market entry. In line with the government's global venture policy, the Korea Technology Guarantee Fund introduced global technology finance support systems tailored to the Silicon Valley investment and financial environment, including overseas expansion guarantees linked to local direct loans, venture capital investment guarantees, and a recommendation system for tech credit loans in collaboration with Hanmi Bank. Professor Kim So-hyung from Stanford University emphasized, "We will strengthen our cooperation with the Korea Technology Guarantee Fund to support the growth of excellent startups in the K-beauty and K-food sectors and enhance technology commercialization." Earlier, the Korea Technology Guarantee Fund announced the opening of its 'Silicon Valley branch' in January, aiming to provide close support for domestic startups and ventures entering this challenging market. The Silicon Valley branch is the second overseas branch, following the opening of its Singapore branch in June of the previous year. Lee Jong-hyuk, head of the Korea Technology Guarantee Fund's Silicon Valley branch, stated, "We will continue to gradually expand our collaboration with Hanmi Bank and Stanford University to strengthen an effective global technology finance support system for startups." 2026-05-28 16:12:00

Hyundai Card's Blue Walnut Struggles Despite Ambitious Payment Platform Goals Hyundai Card's subsidiary Blue Walnut, established to build a future mobility payment platform, has been reporting losses for several years. The in-car payment business, which relies on Hyundai Motor Group's volume, has not expanded as quickly as anticipated, leading to ongoing challenges in achieving profitability. Industry analysts suggest that the company's plans for the future mobility market may have outpaced actual market growth. According to the Financial Supervisory Service's electronic disclosure system, Blue Walnut recorded a net loss of 2.9 billion won last year, more than double the 1.2 billion won loss from the previous year. The company has now posted losses for nine consecutive years, accumulating a total deficit of 23.8 billion won since its inception. Blue Walnut was founded in late 2016 under the leadership of Vice Chairman Jung Tae-young and other Hyundai Card executives as an electronic payment gateway (PG) subsidiary. Fully owned by Hyundai Card, it aims to establish a payment infrastructure for connected cars, focusing on services such as fuel, charging, and toll payments. From the outset, Blue Walnut differentiated itself by collaborating with Hyundai Mobis to develop a service that allows payments via vehicle navigation systems without a physical card, targeting the connected car era. The company has steadily expanded its offerings, including payment services for rental cars and certified used cars. Last year, Blue Walnut generated 165.8 billion won in revenue from Hyundai Motor Group affiliates, a 16.2% increase from 142.6 billion won the previous year. This accounted for approximately 89% of its total revenue of 186.3 billion won, with payment processing fees related to Kia reaching 143.3 billion won. However, the long-awaited in-car payment service, 'In-Car Payment,' from Hyundai and Kia was only officially launched in 2022, indicating that the company remains in the early stages of development. Renault Korea, which began its in-car payment service in 2021, discontinued it after about two years due to low usage rates. The slow progress in expanding the in-car payment market, initially seen as a promising new business, has hindered Blue Walnut's ability to improve profitability. Industry insiders cite the low-margin structure typical of PG businesses and high initial investment costs as reasons for Blue Walnut's struggles. While the costs of building and operating connected car payment systems are significant, revenues are primarily limited to transaction fees. Additionally, the company's business model, which focuses more on transactions within the group rather than expanding to external customers, limits its revenue diversification. With the domestic PG market already dominated by large players, new entrants find it challenging to secure stable revenue streams. For instance, Samsung Card sold its PG subsidiary Allat to KG Inicis in 2016. An industry source noted, "The in-car payment business was approached more as a new business concept by Hyundai Card rather than being led by Hyundai Motor Group. Although Blue Walnut has conducted extensive research and development since its inception, it will require a long-term perspective for widespread adoption."* This article has been translated by AI. 2026-05-28 16:10:00