NVIDIA CEO Jensen Huang Faces Controversy Over Taiwan Night Market Incident NVIDIA CEO Jensen Huang has sparked debate after a video surfaced showing him suggesting he would pay for everyone’s food at a night market in Taiwan to skip the line. The video, which circulated on social media and online communities, features Huang at the Raohe Night Market in Taipei, where he was surrounded by fans and tourists eager to see him. In the footage, Huang, upon seeing the long queue, proposed, "I buy everybody's, can I get the first one?" Many online users viewed this as a lighthearted moment, interpreting it as a humorous gesture from a prominent CEO buying corn at a night market. The video shows onlookers laughing and cheering in response. However, Indian media outlet NDTV reported criticism of Huang's actions, describing them as an example of "wealth privilege." Critics argued that attempting to change the order of the queue with money disregards the cultural norm of waiting in line. Some social media users likened the incident to a "pay-to-win" scenario, highlighting issues of privilege. This has led to a lively online debate, with some arguing that Huang's offer to pay for everyone’s food was harmless, while others contended that trying to bypass social rules with money was inappropriate. Meanwhile, Huang's recent visits to night markets and restaurants in Taiwan have garnered attention. He referred to Taiwan as the "epicenter of the AI revolution" and announced that NVIDIA plans to invest $150 billion in the country annually.* This article has been translated by AI. 2026-05-31 14:18:00

Life and Non-Life Insurance Associations Select 22,305 Certified Advisors The Life Insurance Association and the Non-Life Insurance Association announced on May 31 that they have selected a total of 22,305 certified advisors for this year. The certification period will begin on June 1 and last for one year. The certified advisor program has been in operation since 2008, aimed at enhancing the professionalism of insurance advisors and establishing a culture of consumer protection. To qualify as a certified advisor, individuals must have worked for the same insurance company for at least three years and have no cases of incomplete sales. They must also meet criteria such as a contract retention rate of over 90% for the 13th month and over 80% for the 25th month. Additionally, there should be no history of sanctions related to violations of insurance laws in the past three years. This year, the certified advisors include 11,460 from life insurance and 10,845 from non-life insurance, representing 9.5% of the total candidates and 6.9% of non-life insurance agents. The average tenure for life insurance certified advisors is 17.7 years, with a retention rate of 97.4% for the 13th month and 91.0% for the 25th month. Their average annual income is 142.63 million won. For non-life insurance certified advisors, the average tenure is 19.3 years, with retention rates of 95.8% for the 13th month and 88.2% for the 25th month, and an average annual income of 120.05 million won. The associations explained that the total number of selected advisors has decreased compared to last year (30,778) due to stricter certification criteria implemented this year. Starting this year, the retention rates from the 'e-Clean Insurance Service,' which allows consumers to directly check advisors' incomplete sales rates and contract retention rates, have been applied. A representative from both associations stated, "We plan to continuously enhance the fairness and reliability of the program so that the certified advisor system can become a symbol of trust in the insurance industry."* This article has been translated by AI. 2026-05-31 14:06:00

US says Iran blockade holds firm as warship disables Iran-bound vessel SEOUL, May 31 (AJP) - U.S. Defense Secretary Pete Hegseth said that the U.S. naval blockade of Iran remains firmly in place and that American forces stand ready to resume combat operations should ceasefire negotiations collapse. Speaking to reporters in Singapore on the sidelines of the Shangri-La Dialogue security summit Saturday (local time), Hegseth said the matter of the Strait of Hormuz had surfaced repeatedly in his bilateral talks. "The blockade is very much still in place," he said, adding that the waterway would become "a toll-free strait that the entire world can use, which is the way it should be." Hours earlier, U.S. Central Command said its forces had fired a missile at the Gambian-flagged merchant vessel M/V Lian Star, which was steaming through international waters in the Gulf of Oman toward an Iranian port. The command said the crew was warned more than 20 times before the strike disabled the ship. The vessel was knocked out of action and is no longer bound for Iran, military officials said. They did not disclose whether anyone aboard was hurt. It was the fifth commercial ship CENTCOM has disabled since the blockade began about mid-April. Asked whether Washington might permanently pull troops from Middle Eastern bases struck by Iran, Hegseth deferred to the White House, saying such calls rested with President Donald Trump and would hinge on the outcome of the talks. For now, he said, the focus was on staying postured to strike again if needed. On Taiwan, Hegseth said U.S. policy was unchanged even as he acknowledged China's military buildup, reiterating Trump's line that Washington stood in its strongest position yet across the Pacific. Trump has said he discussed arms sales to the island with Chinese leader Xi Jinping but has not approved further transfers. Pressed on whether the United States would deliver Virginia-class submarines to Australia on schedule under the AUKUS pact, due to begin in 2032, Hegseth said he believed it would, despite domestic doubts over whether the boats would meaningfully deter China's navy. 2026-05-31 14:05:37

Trump Delays Approval of Iran Ceasefire MOU, Sends Revised Proposal President Donald Trump has reportedly withheld approval for a draft memorandum of understanding (MOU) aimed at ending hostilities between the United States and Iran. According to a report by The New York Times on May 30, citing three officials, Trump did not approve the draft MOU intended to formalize the cessation of war between the two nations. The report indicates that Trump has strengthened the terms of the ceasefire agreement and sent a revised document back to Iran. The specific changes made to the proposal have not yet been disclosed. However, officials noted that Trump has expressed concerns regarding the inclusion of measures to release Iran's frozen assets in the preliminary agreement. Additionally, he has voiced frustration over Iran's slow response to the U.S. proposals. One official suggested that Trump's issuance of a tougher new proposal might be aimed at pressuring Iran's Supreme Leader Ayatollah Seyyed Ali Khamenei to swiftly accept the existing offer. Earlier, Trump discussed the approval of the ceasefire MOU during a meeting in the White House Situation Room on May 29, but the meeting concluded without any announcement. The draft MOU reportedly includes provisions to extend the ceasefire between the U.S. and Iran for an additional 60 days, fully open the Strait of Hormuz, and reach agreements on Iran's denuclearization during the extended ceasefire period.* This article has been translated by AI. 2026-05-31 14:00:00

Thousands explore South Korean palaces during central Seoul walking event SEOUL, May 31 (AJP) - More than 2,000 people walked through the historic royal palaces of central Seoul on Sunday to experience South Korean traditional culture. The event aimed to showcase the harmony between the capital city's modern landscape and its historical sites. The 2026 Seoul Foreigner Palace Walking Contest, hosted by Aju News Corporation, brought together about 1,200 foreign nationals and 800 local citizens. The seven-kilometer circular route started at Gwanghwamun Plaza and guided participants through Gyeongbokgung, Changdeokgung and Changgyeonggung palaces before passing Jogyesa temple. Organizers expanded the event this year to include K-culture photo zones and cultural performances. Participants tried on traditional royal garments and interacted with setups replicating a royal clinic and historical palace guards. Lim Kwu-jin, president of Aju News Corporation, said the event serves as a meaningful time for people from various countries to naturally mingle with the history and culture of Seoul. "The palaces are Seoul's most precious cultural heritage and symbolic spaces that show the history and dignity of South Korea," Lim said. The event drew attendees from countries including China, Japan, the United States, France, India, Vietnam and Mexico. Several foreign diplomats participated in the trek and noted the visual impact of the preserved architecture. Jacques Flies, the Ambassador of Luxembourg to South Korea, said the curated walk gave him a deeper connection to the country's history. "I especially liked seeing the old palaces surrounded by the modern city," Flies said. "It creates a very nice bridge between the past and the present, and actually between the history of South Korea and the current state and future of South Korea." Wray Mulendema Hamweene, minister counsellor at the Embassy of Zambia in South Korea, highlighted the structural longevity of the traditional buildings. "Today, I had the opportunity to appreciate South Korea's rich culture," Hamweene said. "The many people wearing hanbok in the palace were very impressive." "Where else in the world can you find palaces like these? They are truly unique," Hamweene said. "Although these palaces were built hundreds of years ago, they look as if they were built only yesterday. The architectural technology of the past is truly astonishing." 2026-05-31 13:57:43

Naver Labs and Lotte Innovate Expand Physical AI Business As the market for Physical AI, which enables artificial intelligence to perceive and interact with the real world, continues to grow, Naver Labs and Lotte Innovate are enhancing their related businesses. Naver Labs is focusing on building infrastructure that allows robots to navigate spaces, while Lotte Innovate is accelerating the commercialization of service robots and humanoids based on its retail and logistics operations. Naver Labs is concentrating on creating a robot-friendly environment using spatial data technologies such as digital twins, autonomous robots, and high-precision indoor mapping. This infrastructure-based Physical AI strategy supports AI in understanding and moving through real spaces. The key lies in accurately replicating real-world spaces in digital form. Naver Labs is advancing technology that allows robots to autonomously navigate buildings and recognize their surroundings, relying on high-precision indoor maps and location recognition technologies. This foundation enables AI and robots to understand and move through spaces without human intervention. At Naver's second office, known as '1784', autonomous robots are already handling in-house deliveries and logistics tasks. The integration of robots, cloud technology, and digital twin technology has successfully created an environment where AI operates smoothly in real spaces. Lotte Innovate is focusing on the commercialization of AI robots in retail and logistics. Its unique strength lies in the ability to immediately apply AI robots in real-world settings by leveraging the vast infrastructure of its group affiliates. With diverse business sectors including retail, logistics, hotels, and entertainment, the company can quickly validate tailored Physical AI services across industries. Lotte Innovate is expanding its Physical AI business around its integrated AI platform, 'iMember'. This platform combines generative AI, vision AI, and voice AI with group service data to provide customized services. Recently, the company has enhanced the AI agent functionality, further extending its business into the realm of Physical AI that recognizes and interacts with real spaces. A notable example is the humanoid robot 'Roy', which is linked to convenience stores. Utilizing vision AI, Roy can autonomously recognize products on shelves and guide customers with information about product locations and details. It can learn new location information even when product arrangements change. Currently, a proof of concept (PoC) is being conducted in the first-floor store of the Seoul headquarters. At the recent World IT Show (WIS), Roy demonstrated its ability to accurately recognize snacks and beverages in a simulated convenience store environment and respond to customer inquiries. For instance, when a user requests, "Recommend a snack I can buy for 6,000 won," the robot analyzes the shelf with vision AI and provides recommendations based on price and product information, including their locations. It can also assist in finding specific product locations or checking for promotional items at a practical level. Lotte Innovate recently showcased Roy at the Lotte World Tower Sky Run event, demonstrating its humanoid technology. The company plans to expand its application to actual group locations, such as Lotte Mart and logistics centers, to enhance roles in inventory management, product recommendations, and logistics automation. The company is also accelerating efforts to secure global-level AI technology competitiveness. In February, it obtained the international standard certification for AI system quality, 'ISO/IEC 25058', and recently followed up with the certification for the international standard for AI management systems, 'ISO/IEC 42001'. Industry insiders note, "The Physical AI market has transcended simple robot development. Various technological domains, including spatial data, autonomous driving, vision AI, and logistics automation, are organically combining, leading to rapid market expansion." 2026-05-31 13:54:00

UN Faces Bankruptcy Risk Due to Unpaid Contributions from US and China The United Nations is facing a severe financial crisis due to unpaid contributions and delayed payments from the United States and China. According to the Wall Street Journal on May 30, the US and China, which together account for 42% of the UN's core budget, have delayed billions of dollars in payments, putting the organization at risk of bankruptcy. UN Secretary-General António Guterres warned that the UN is "heading toward bankruptcy" and stated that the likelihood of a financial collapse is very high. If current trends continue, the UN is projected to run out of cash by mid-August, coinciding with the process of selecting Guterres's successor. The US currently owes $4.284 billion, which includes $2.037 billion in regular budget arrears and $2.247 billion in peacekeeping budget arrears. The administration of President Donald Trump has characterized the UN as a bloated and inefficient organization, insisting that it will only pay its dues after significant restructuring. The US has called for further staff reductions, cuts to business-class travel, and increased use of machine translation. According to UN regulations, if a member state's arrears exceed the contributions for the previous two years, it loses its voting rights in the General Assembly. There are concerns that the US could lose its voting rights as early as 2027 if the arrears continue. China, the second-largest contributor to the UN, is also exacerbating the financial crisis. Recently, during Foreign Minister Wang Yi's visit to the UN, China paid $844 million for peacekeeping costs but still owes $455 million. The Wall Street Journal noted that while China presents itself as "effectively the largest financial contributor to the UN," it has delayed payments, worsening the UN's financial situation. Historically, China paid its dues within months at the beginning of each year, but since 2022, it has postponed payments until the end of the fiscal year. Some experts interpret the unpaid dues and delayed payments from both the US and China as a means to pressure the UN to meet their political demands. Jodi Herman, a senior director at the UN Foundation, stated, "The US is not paying its fair share of dues, and China has been exploiting the payment system for years." The Wall Street Journal reported that China is leveraging its alliance with the Group of 77, a coalition of developing countries, to exert influence during UN budget discussions. It also pointed out that China provides minimal funding for UN humanitarian programs. The UN's unique accounting rules are also contributing to the financial crisis. The UN refunds unspent funds based on member states' dues assessments by the end of the year. However, unpaid dues can also be treated as unspent budgets on the books, making them eligible for refunds. This year alone, $299 million in non-existent cash has been recorded as refundable credits, with projections suggesting this could rise to $400 million next year. Earlier this year, Guterres urged member states in a letter to reform these regulations, stating, "We are trapped in a Kafkaesque cycle of being asked to refund non-existent cash." In response to the financial crisis, the UN has initiated significant austerity measures. It plans to cut 3,000 staff positions, reduce interpretation hours, and postpone maintenance of its New York headquarters. Additionally, the UN is accelerating the withdrawal of peacekeeping forces from conflict zones in Africa, such as the Democratic Republic of the Congo, and is cutting peacekeeping budgets. Reimbursements to developing countries like Nepal and Bangladesh that have deployed troops for peacekeeping are also being delayed. There are growing concerns within the UN that if cash shortages materialize, staff salaries could be halted, and food and security programs could be paralyzed.* This article has been translated by AI. 2026-05-31 13:39:00

One Year of Lee Jae-myung's Government: Focus on Curbing Speculative Demand As of June 4, the Lee Jae-myung administration marks its first year with a focus on establishing a market order centered on actual residents and curbing speculative demand. The government has implemented a series of financial, tax, and administrative regulations aimed at putting pressure on multiple homeowners and gap investors since its inception. The stringent regulations have sent warning signals to the overheated high-end housing market, effectively dampening speculative buying. However, there are concerns that the emphasis on demand suppression has limited actual supply expansion and rental stability. Shortly after taking office, the government introduced measures such as the June 27 financial regulations, the October 15 housing market stabilization plan, and the resumption of increased capital gains tax for multiple homeowners, tightening loans, transactions, and tax systems simultaneously. Following these regulations, there were short-term effects, including a slowdown in price increases and a surge in urgent sales in parts of the Gangnam area and the Han River belt. However, as time has passed, a phenomenon of inventory lockup has emerged. According to real estate big data firm Asil, as of May 29, the number of apartment listings in Seoul stood at 61,767, down 9.8% from 68,495 on May 9, just before the end of the capital gains tax exemption. Analysts suggest that multiple homeowners are withdrawing listings or opting for gifts, reducing the available supply in the market. Price trends are also becoming unstable again. According to the Korea Real Estate Agency, the increase in apartment sale prices in Seoul during the third week of May was 0.31%, the highest rate in seven months. While the price rise in the Gangnam area has slowed, demand is shifting to the relatively less regulated northern regions and outskirts of Seoul. The instability in the rental market is another key variable in evaluating the government's policies. The administration believed that if homes owned by multiple homeowners were transferred to actual residents, the impact on the rental market would be limited. However, concerns are growing about a decrease in rental listings and rising prices. Lee Chang-moo, a professor at Hanyang University, noted at a recent seminar on the evaluation of the Lee Jae-myung government's real estate policies that the average rental price in Seoul has increased by 8.66% over the past 11 months. In the four northern districts of Gangbuk, Nowon, Dobong, and Seongbuk, rental prices rose by 12.63%, while monthly rents increased by 13.14%. The government is also pursuing supply measures. Through the September 7 plan, it set a goal to supply 1.35 million housing units in the metropolitan area during its term, and in early January, it announced plans to supply 10,000 units in the Yongsan International Business District. Recently, it has also unveiled plans to expand non-apartment supply, public rental purchases, and utilize idle urban spaces. However, there are still criticisms regarding the lack of specificity about the timing, location, and quality of the supply that the market desires. While construction goals and permit numbers have been presented, the actual move-in dates, competitive locations, and quality standards that could replace apartment preferences remain unclear. Choi Hwang-soo, a professor at Konkuk University, commented, "The government's justification for curbing speculative demand was clear, but the details needed to create an exit for the market's self-correction were insufficient." Go Jun-seok, a professor at Yonsei University's Sangnam Business School, added, "If new supply is difficult to come by immediately, there should have been consideration for opening a pathway for existing properties owned by multiple homeowners to enter the market." 2026-05-31 13:39:00

Construction Firms Target Southern Gyeonggi Semiconductor Belt Amid Market Recovery Construction companies are accelerating their efforts to tap into the housing market in the semiconductor belt of southern Gyeonggi Province, including Yongin and Pyeongtaek. As the housing market remains sluggish and the construction industry faces challenges, the anticipation of long-term residential demand is growing due to the establishment of additional production and research fabs in the Yongin, Pyeongtaek, Hwaseong, and Suwon areas. According to the real estate industry on May 31, construction firms are highlighting the accessibility to semiconductor industrial complexes and proximity to workplaces as key marketing points for their projects in southern Gyeonggi. The government has announced plans to attract a total of 622 trillion won in private investment to create the world's largest semiconductor mega-cluster, drawing attention to the so-called 'Yong-Pyeong-Hwa-Su' semiconductor belt in the housing market. Yongin is the area where construction companies are most actively promoting the benefits of the semiconductor industry. Hyundai Engineering & Construction is offering the 'Hillstate Yongin Mark Valley' project in the Agok-ri area of Nam-sa-eup, emphasizing its proximity to the national industrial complex for advanced system semiconductors and the Yongin semiconductor cluster. This development will consist of 660 units. Daewoo Engineering & Construction is also targeting demand from the semiconductor belt in Yongin. The company is currently marketing the 'Yongin Prugio One Cluster Park,' highlighting the benefits of the Yongin advanced system semiconductor cluster and the convenience of commuting to industrial complexes. This project will feature six buildings with a total of 710 units, ranging from 80 to 134 square meters, across 29 floors. In Pyeongtaek, supply is continuing around the Godeok International Planning District, which is considered a residential area supporting Samsung Electronics' Pyeongtaek campus. A consortium led by Woomee Construction is offering the 'Pyeongtaek Godeok Woomeelin Prestige,' targeting demand from the Samsung campus. Kumho Construction is also presenting 'Godeok New Town Atera,' a public housing project with 630 units in Block A-63 of the Godeok International Planning District. For construction firms, the semiconductor belt provides a clear marketing advantage in a sluggish housing market. Developments near industrial complexes are expected to attract workers during the establishment of large production facilities, and demand for housing is likely to increase once operations begin, as more employees and research personnel move into the area. Supply conditions are also noteworthy. The cumulative number of housing units available in Gyeonggi Province this year has reached 26,030, a 53.9% increase compared to the previous year, while unsold units have decreased by 8.3% to 12,205. During the same period, the number of completed units has dropped by 38.9% to 21,209. This suggests that while new supply is increasing, the reduction in unsold units and the decline in completed units indicate a steady demand for new apartments. In Yongin's Cheoin District, the focus is shifting towards land, compensation, and infrastructure ahead of apartment developments. According to the Ministry of Land, Infrastructure and Transport, the national industrial complex in Icheon and Nam-sa-eup is set to receive project approval by December 2024, with compensation negotiations expected to begin by the end of 2025, and construction slated to start in the second half of 2026. The Korea Land and Housing Corporation (LH) is also planning to initiate construction of the industrial complex after finalizing land sales in the second half of this year. In contrast to Yongin, Pyeongtaek has already demonstrated the effectiveness of its production base. Demand for housing near the Samsung Electronics Pyeongtaek campus has formed around the Godeok International Planning District, with further supply continuing. However, the pace of recovery in the sales market is relatively slow as the area absorbs large-scale developments like Godeok New Town and Brain City. A representative from a construction firm noted, "Not all projects in the semiconductor belt will succeed just because of the name. The absorption of demand will vary based on the distance to the industrial complexes, the timing of transportation network openings, pricing, and the volume of units available for occupancy." He added, "Factors such as the commencement of national industrial complexes, compensation, subsequent supply in the Godeok International Planning District, the impact of the GTX-A line opening, and demand from Samsung Electronics' headquarters and research and development will be key elements in marketing these developments." 2026-05-31 13:27:00

South Korea's Economy Poised for 10% Nominal Growth for the First Time in 24 Years South Korea's economy is showing promising signs, with projections indicating that this year's nominal Gross Domestic Product (GDP) growth rate could reach the 10% range for the first time since 2002. This surge is attributed to rising semiconductor export prices and strong export performance, significantly boosting the nominal size of the South Korean economy. The Bank of Korea has recently revised its real growth forecast for this year from 2.0% to 2.6%. The current account surplus forecast has also been significantly raised to around $250 billion. As nominal GDP increases, the ratios of household debt and national debt to GDP are expected to decrease. If nominal GDP grows by 10%, estimates suggest that the household debt ratio could fall to the low 80% range. A growth of 12-13% could bring the government closer to its target of an 80% debt ratio by 2030. This is undoubtedly a positive signal. The two burdens that have weighed on the South Korean economy have been household debt and national debt. Household debt dampens consumption and heightens financial instability, while national debt becomes a burden for future generations. Improvements in these indicators would positively impact the economy's resilience. However, one must critically assess whether this nominal growth is a result of structural improvements in the South Korean economy or merely a temporary illusion created by the semiconductor boom. Nominal GDP reflects both real growth and price factors. Even if the same quantity is sold, an increase in export prices will lead to a larger nominal GDP. A significant portion of the expected double-digit nominal growth stems from rising semiconductor prices and strong exports. While semiconductors are indeed a backbone of the South Korean economy, the semiconductor cycle has historically alternated between booms and busts. Thus, a decrease in the household debt ratio does not signify the end of the household debt problem. The effect of a larger GDP lowering the ratio is substantial. The actual scale of debt, repayment burdens, real estate prices, and interest rate conditions must continue to be managed. The same applies to the national debt ratio. While nominal GDP growth may improve the ratio, without reforming the expenditure structure, fiscal burdens could increase again. Just because a health check shows an increase in height and a lower body mass index does not mean weight loss has occurred. The same principle applies to the economy. The focus should not only be on improving ratios but also on enhancing the underlying structure. South Korea's structural challenges remain significant. Issues such as low birth rates, an aging population, a declining working-age population, an oversupply of self-employed individuals, a lack of competitiveness in the service sector, and youth unemployment persist. The semiconductor boom will not automatically resolve these problems. In fact, the more prosperous the period, the more urgent the need for reform. If tax revenues increase and fiscal capacity improves, it is crucial to invest in future industries and talent development, such as AI, semiconductors, biotechnology, robotics, and aerospace, rather than diverting funds to short-term expenditures. While today's semiconductors have revitalized the South Korean economy, tomorrow's growth drivers must emerge from AI and new industries. Achieving a nominal growth rate in the 10% range for the first time in 24 years is undoubtedly an opportunity. However, this opportunity will not become a blessing on its own. It is essential to decide whether to squander the time gained from semiconductors or to invest it in preparing for the future. A positive signal has been lit. However, we must not let go of the steering wheel. Reforming during prosperous times, investing during booms, and preparing for the future are the fundamentals, principles, and common sense of economics.* This article has been translated by AI. 2026-05-31 13:21:00