Candidates Honor Victims of May 18 Democratic Uprising in Gwangju Choo Mi-ae, the Democratic Party candidate for Gyeonggi governor, and Yang Hyang-ja, the People Power Party candidate, visited Gwangju on May 18 to honor the victims of the May 18 Democratic Uprising and pledged to uphold the spirit of May. Jo Eung-cheon, the Reform Party candidate for Gyeonggi governor, also expressed his commitment to reflecting the May spirit in governance. Choo and Yang paid their respects at the National May 18th Democratic Cemetery in northern Gwangju before attending the 46th anniversary ceremony at May 18th Democracy Square in eastern Gwangju. At the ceremony, Choo stated, "We were able to properly honor the spirit of May 18 for the first time after achieving a change in government and overcoming the insurrection." She added, "Because we were given the strength to overcome the insurrection, I feel that all citizens of South Korea are survivors of May 18. I am grateful." Choo also emphasized her commitment to upholding the spirit of May, stating on Facebook before the ceremony, "The May spirit of Gwangju has protected today's South Korea. I will engrave that spirit in our constitution and carry it forward with the people of Gyeonggi Province." Yang, who attended high school in Gwangju, paid tribute to the victims and stated, "No one should ever again bring the military into politics." She emphasized the importance of remembering the tears of Gwangju, asserting, "We must never forget that today's South Korea stands on the pain and sacrifices of our democracy." Yang also pledged to serve as a bridge between the People Power Party and the Honam region, stating, "Without support from Honam, there is no future for conservatism. We must confront and overcome the significant divide between the sentiments of the Honam people and the People Power Party that I felt in Gwangju." After completing his schedule in Gyeonggi, Jo issued a statement expressing his dismay at the political arena's continued use of the May 18 incident as a tool for political attacks or as a means of absolution. He stated, "To create the nation that the spirits of May dreamed of, I will seek the path forward with the urgent hearts of those who yearned for democracy half a century ago, navigating through every alley. I promise to listen to the voices of the people and reflect the urgency of May in our policies and governance."* This article has been translated by AI. 2026-05-18 23:15:00

Drunken Marine Found with Live Ammunition During Leave A Marine on leave has been placed under military investigation after being found intoxicated and in possession of live ammunition. Authorities suspect the Marine may have smuggled the ammunition during training. According to the Marine Corps, on May 16, police received a report of a man passed out from intoxication near Yongsan Station in Seoul. Upon arrival, officers identified the man as Marine A, who was on leave. During a search of A's belongings, police discovered multiple rounds of live ammunition. Recognizing the seriousness of the situation, they promptly transferred A's custody to military police. Investigations revealed that A had participated in combat training at the Korea Combat Training Center (KCTC) in Inje, Gangwon Province, prior to his leave. During questioning, A reportedly admitted to taking some unused live ammunition from the training without returning it. The KCTC training is known for its realistic combat scenarios, which involve the use of significant amounts of live ammunition. Military authorities are now exploring the possibility that A intentionally concealed the ammunition by exploiting weaknesses in the ammunition handling and return process following the training. Under current military law, unauthorized removal of military property, including firearms and ammunition, is strictly prohibited. As a result, A is likely to face legal consequences. Additionally, the Marine Corps plans to conduct a comprehensive review of ammunition management practices at frontline units to prevent similar incidents in the future.* This article has been translated by AI. 2026-05-18 23:12:59

Court Limits Samsung Electronics Union Strike, Emphasizes Semiconductor Process Obligations Samsung Electronics' labor union received a significant setback just three days before its planned general strike, as a court largely upheld the company's request to prohibit strike actions. On May 18, the Suwon District Court's Civil Division 31, led by Judge Shin Woo-jung, granted most of Samsung's injunction against the union's planned strike activities. The court cited Article 38, Section 2 of the Labor Union Act, which mandates that operations to prevent damage to work facilities or deterioration of materials and products must continue normally even during disputes. The court defined "normal" operations as maintaining the same conditions as during regular times, without any significant changes or disruptions. Consequently, the court ordered the union to maintain staffing levels and operational capacity for safety measures, damage prevention, and wafer preservation at the same levels as on regular weekdays and weekends. Any actions to halt or obstruct these operations, as well as any coercion of union members to do so, were also prohibited. To ensure compliance with this decision, the court imposed substantial financial penalties. If the union violates the ruling, it will be required to pay Samsung between 200 million and 300 million won per day, while individual union leaders face penalties of 20 million to 30 million won daily for any breaches. The court emphasized the global significance of the semiconductor industry, noting that damage to precision semiconductor facilities could incur enormous costs and time for recovery. It stated that production disruptions could lead to significant losses across various sectors, including automotive, home appliances, and information technology, which cannot be compensated through monetary damages. However, the court did acknowledge some basic rights of the union, rejecting certain claims from Samsung, such as prohibiting the use of threats during efforts to persuade members to join the strike and requests to ban the occupation of certain facilities. In response to the court's ruling, the union decided not to file an immediate appeal. It stated that it would prepare for a lawful strike within the boundaries permitted by the law. The union had previously announced plans for a large-scale strike involving about 50,000 participants, set to begin on May 21 and last for 18 days. Currently, Samsung Electronics and the union are engaged in final negotiations at the Central Labor Relations Commission regarding improvements to the performance bonus system. The union is demanding the elimination of the performance bonus cap and a formalization of calculations based on operating profits, while the company has promised top-tier compensation but has shown reluctance to institutionalize these changes. The government is closely monitoring the negotiations to facilitate a smooth resolution. Prime Minister Kim Min-seok indicated in a recent public address that all possible measures, including urgent mediation, would be considered to protect the national economy.* This article has been translated by AI. 2026-05-18 23:11:18

Starbucks Korea CEO Apologizes for Inappropriate Reference to May 18 Movement Starbucks Korea issued an additional apology after facing backlash for using language associated with the May 18 Democratic Movement in an online event. On May 18, CEO Son Jeong-hyeon released a statement saying, "We deeply apologize to the spirits of the May 18 Movement, the May organizations, the citizens of Gwangju, and the families of the late Park Jong-cheol, as well as all those who have contributed to Korea's democratization, for the inappropriate expression used in our marketing related to the May 18 Democratic Movement." Earlier that day, Starbucks faced criticism for using language that evoked the May 18 Movement during an online tumbler sales event. As the controversy grew, the company halted the event and issued an initial apology, followed by a second apology from the CEO. In his statement, Son acknowledged, "I recognized that content related to the May 18 Gwangju Democratic Movement was used inappropriately, and I immediately halted the event." He added, "I sincerely apologize again for causing this issue on a day that honors the noble spirit of the May 18 Movement and the sacrifices of those who lost their lives." Starbucks plans to investigate the circumstances surrounding the incident and identify accountability, while also improving internal processes to prevent a recurrence. Son expressed, "I feel a heavy sense of responsibility and the seriousness of this matter," and stated that the company will conduct education on historical awareness and ethical standards for all employees, as well as implement more thorough review procedures in all event preparations, including marketing.* This article has been translated by AI. 2026-05-18 23:08:08

Yang Hyang-ja Calls for Samsung Labor Agreement, Begins Indefinite Hunger Strike Yang Hyang-ja, the People Power Party's candidate for Gyeonggi Province governor, announced on May 18 that she would begin an indefinite hunger strike to urge a labor agreement at Samsung Electronics. She stated that her protest aims to prevent a crisis in the country's key semiconductor industry. According to Yang's campaign, she will start her hunger strike in front of Samsung's Pyeongtaek campus in Gyeonggi Province starting that evening. Her team expressed hope that "this small struggle will serve as a catalyst for dialogue and problem-solving between labor and management." As a result, Yang's campaign activities are expected to be temporarily halted, reflecting her urgent concern over semiconductor issues. Earlier that day, Yang met with former President Lee Myung-bak in Seoul. She urged him, saying, "Just as you navigated the global financial crisis with bold pragmatism centered on national interest, we must also confront the current technological hegemony war with a practical perspective. I ask for your advice on the pressing issues facing Gyeonggi Province, which supports South Korea's future economy." Yang, a former Samsung executive, has recently expressed concerns about the government's push for a semiconductor special law that excludes the metropolitan area and the prolonged labor dispute at Samsung Electronics.* This article has been translated by AI. 2026-05-18 23:05:19

Candidates Clash Over Allegations in Busan Mayoral Debate In a heated debate on May 18, Busan mayoral candidates Jeon Jae-soo of the Democratic Party and Park Hyung-jun of the People Power Party exchanged accusations over various allegations, including the promotion of Busan as a maritime capital. The candidates participated in a debate hosted by the International Newspaper at Pukyong National University’s Daeyeon Campus, where they raised suspicions against each other. During his opening remarks, Park brought up allegations of Jeon receiving money from the Unification Church, stating, "He should answer honestly whether he received 'Cartier' or 'did not receive anything' instead of saying 'I did not receive anything.'" He also questioned, "Four of his aides were indicted for evidence destruction; does he claim he was completely unaware of this?" In response, Jeon countered, "The results came from a four-month intensive investigation. We must wait for the trial results regarding the aides' evidence destruction." He then pointed out, "Park promised to sell LCT but did not, and the capital gains from it, amounting to roughly 10 billion won, are under his wife and children's names. Many believe he could not keep his promise to sell LCT due to these capital gains." Park replied, "Are you combining separate items to claim a capital gain of 10 billion won? How can you know about capital gains when it hasn’t even been sold?" Regarding the increase in sales at the gallery operated by his wife during his tenure as mayor, which rose from 5 billion won to 20 billion won, Park stated, "Most of the sales from the gallery came from overseas, contributing to Busan's economy. If there is even a hint of corruption related to the gallery, I will not run for mayor of Busan again." The candidates also clashed over the agenda of elevating Busan to a maritime capital. Jeon emphasized, "As the first Minister of Oceans and Fisheries under the Lee Jae-myung government, I included the maritime capital of Busan in the national agenda. The labor-management agreement for HMM's relocation to Busan has also been finalized. The one who started this will finish it." Conversely, Park criticized Jeon regarding the Busan Global Hub Special Law, which is pending in the National Assembly, stating, "Jeon proposed this law and claimed it would pass this session, but after a comment from the president, the narrative changed as if there were issues with the law. To claim we can create a maritime capital without passing this law is contradictory."* This article has been translated by AI. 2026-05-18 23:04:07

Ingenia Therapeutics Set to Reveal KOSDAQ Listing Review Results Amid IPO Market Revival The sluggish initial public offering (IPO) market is expected to see a resurgence with the entry of major companies. Ingenia Therapeutics, a U.S. biotech firm, is set to reveal the results of its KOSDAQ listing review as early as this week, paving the way for several companies with market capitalizations ranging from hundreds of billions to trillions of won to join the listing race. According to investment banking sources on May 18, the Korea Exchange is expected to finalize its review results for Ingenia's KOSDAQ listing this week and notify the lead underwriter. An IB industry insider noted, "If the practical review results from the exchange's examiners are finalized this week, a listing committee meeting will be held at the end of this month to determine final approval." Ingenia submitted its preliminary listing application on January 30, selecting Samsung Securities as its lead underwriter. Under exchange regulations, the review period for foreign companies is limited to 65 business days, longer than the 45 business days for domestic firms. If the review results are favorable, Ingenia is expected to be a key player in revitalizing the bio IPO market in the second half of the year. As Ingenia's review results approach, the timeline for other promising companies aiming to lead the IPO market in the second half is also becoming clearer. Notably, major firms in advanced technology sectors such as biotechnology and artificial intelligence (AI) are preparing for their listings. Adel, a company developing treatments for Alzheimer's disease, is also considered a major player for the second half. Although Adel previously failed to qualify for a KOSDAQ technology special listing due to insufficient business viability, it reversed its fortunes by signing a significant technology transfer agreement worth 1.53 trillion won with global pharmaceutical company Sanofi in December. Additionally, last month, Adel secured 49 billion won in pre-IPO investments, raising its estimated corporate value to around 400 billion won. The company is currently undergoing a re-evaluation of its technology through a specialized evaluation agency in preparation for its formal review application. Meanwhile, Rablup, a company specializing in AI infrastructure and large language model (LLM) management software, has also begun its journey toward KOSDAQ listing. Rablup plans to submit its preliminary listing application to the exchange this week, with NH Investment & Securities as its lead underwriter. Market experts believe the entry of these companies will reshape the IPO landscape in the second half of the year. A financial investment industry source stated, "The IPO market has been stagnant due to a lack of large deals since the beginning of the year, but the participation of companies with proven technology and visible performance is expected to restore a positive cycle of capital inflow." The source added, "If Ingenia's practical review results, Adel's technology evaluation progress, and Rablup's application submission all occur in succession, it will create an opportunity for liquidity in the capital market to flow back into the IPO market."* This article has been translated by AI. 2026-05-18 23:01:13

Doosan Expands Semiconductor Territory with Support from KDB and Woori Banks KDB Industrial Bank and Woori Bank will jointly arrange financing for Doosan Group's acquisition of SK Siltron. The funding is aimed at strengthening the national semiconductor supply chain, with the final amount currently under negotiation. According to financial sources on May 18, Doosan Group plans to sign a stock purchase agreement (SPA) with SK Group for the acquisition of SK Siltron by the end of this month. The company's valuation is estimated to be around 5 trillion won. To secure the acquisition funds, Doosan Group has selected KDB and Woori as joint arrangers and is discussing financial terms. The financing will be pursued through a syndicated loan involving multiple financial institutions, with market estimates suggesting a total amount of approximately 2.5 trillion won. A KDB official stated, "We are in discussions for a joint arrangement, but we are also working on a structure that involves multiple financial companies, and the final amount may vary." Doosan Group currently produces core semiconductor materials, such as copper-clad laminates (CCL), through its Doosan Electronics BG and also owns Doosan Test, a semiconductor backend testing company. If the acquisition of SK Siltron is successful, Doosan will secure wafer manufacturing capabilities, completing the value chain from materials to backend processes. This move is also expected to boost the local economies in regions where SK Siltron operates, such as Gumi in North Gyeongsang Province and Cheongju in North Chungcheong Province, while attracting additional investments. Notably, Doosan Group, which previously faced a liquidity crisis, has made a remarkable recovery with the support of KDB. Doosan Enerbility (formerly Doosan Heavy Industries) received 3 trillion won in emergency funding from KDB and the Export-Import Bank in 2020, followed by a rigorous restructuring process that allowed it to exit creditor management in 2022. However, as national policy banks provide financial support for large mergers and acquisitions by conglomerates, discussions about the appropriateness of such interventions are expected to continue. Despite the overarching goal of fostering national strategic industries, there may be differing opinions on how far policy financing should go in supporting the expansion of specific conglomerates.* This article has been translated by AI. 2026-05-18 22:57:59

Seoul Mayoral Candidates Clash Over Safety Concerns and Transparency Jung Won-o, the Democratic Party candidate for Seoul mayor, called on his opponent, Oh Se-hoon of the People Power Party, to clarify when he first became aware of the omission of rebar in the construction of the GTX-A line at Samsung Station. Oh countered by asserting that he has never concealed reports from construction companies and demanded that Jung disclose details of his trip to Cancun, Mexico. After announcing youth housing measures in front of Seoul City Hall, Jung told reporters that "important matters should be reported either individually or in person," adding, "I asked Oh when he first received the report and what actions he took afterward, but I have yet to receive a response." He urged Oh to clarify the timeline and subsequent actions regarding the rebar omission, stating, "If what he said about confirming it yesterday is true, it cannot be a trivial matter." In response to accusations from the People Power Party that he is spreading a so-called 'rebar myth,' Jung criticized the party for its 'safety complacency.' He stated, "Avoiding and hiding safety issues is a sign of safety complacency. The reasons for accidents later stem from this. Safety issues must be transparently disclosed." Oh refuted Jung's claims, asserting that the Democratic Party is making unfounded allegations during the election campaign. After visiting the Youth Employment Academy in Yeongdeungpo, he told reporters, "It has been confirmed that the omission report from Hyundai Engineering & Construction was promptly communicated to the Korea Railroad Corporation by the Seoul City government." He added, "As the election atmosphere shifts, they are politicizing the issue. This is a cowardly and unjust attempt," and emphasized that creating unfounded rumors is not something the ruling party should engage in. Oh also raised concerns about Jung's trip to Cancun during his tenure as the head of Seongdong District. He explained on Channel A's YouTube broadcast that, "From the perspective of Seoul City, it is quite rare for overseas trips to last more than ten days." He further criticized, "If a three-day vacation was included in the middle of the trip, it is advisable to disclose the details to avoid misunderstandings as a public figure, as it is the duty of a public servant."* This article has been translated by AI. 2026-05-18 22:55:14

Airfare Prices Drop Ahead of Vacation Season as Fuel Surcharge Decreases As fuel surcharges decrease, international airfare prices are expected to drop slightly next month. According to industry sources on May 18, tickets issued for June will apply a fuel surcharge of 27 stages (ranging from 410 to 419 cents per gallon). This marks a reduction from the 33 stages (over 470 cents per gallon) applied this month. The fuel surcharge is an additional fee airlines impose to offset losses incurred from rising oil prices. The reduction in surcharge stages is due to the average price of Singapore jet fuel (MOPS) falling to 410.02 cents per gallon, based on data from April 16 to May 15. Domestic airlines plan to sequentially adjust fuel surcharges by route in accordance with this change. Korean Air, for instance, charged a minimum of 75,000 won to a maximum of 564,000 won for one-way flights this month, but will reduce these charges to a minimum of 61,500 won and a maximum of 451,500 won in June, resulting in a potential decrease of up to 112,500 won. Asiana Airlines will set its international fuel surcharge for next month at a minimum of 68,000 won and a maximum of 382,800 won for one-way flights, reflecting a decrease of up to 93,400 won compared to May's rates of 85,400 won to 476,200 won. * This article has been translated by AI. 2026-05-18 22:52:59