Trump and Netanyahu Clash Over Iran Peace Proposal President Donald Trump and Israeli Prime Minister Benjamin Netanyahu have expressed differing views on a proposed peace plan regarding Iran. As the U.S. and Middle Eastern mediators seek a diplomatic resolution, Netanyahu is reportedly advocating for the resumption of military operations against Iran. On May 20, Axios reported that Trump and Netanyahu engaged in a lengthy phone call the previous day regarding the Iran peace agreement. Sources indicated that the conversation was tense, with one U.S. source stating, "Netanyahu was visibly agitated after the call." The disagreement stems from a new proposal aimed at ending the war with Iran. Trump appears open to the possibility of a diplomatic resolution, while Netanyahu insists on the necessity of further weakening Iran's military capabilities and key facilities through military action. The peace proposal was developed under the leadership of Qatar and Pakistan. Axios noted that these countries sought to bridge the gap between the U.S. and Iran by incorporating the views of other mediators, including Saudi Arabia, Turkey, and Egypt. Mediators are reportedly preparing a document outlining principles for negotiations that both the U.S. and Iran could sign. This document is said to include a declaration to end the war and a 30-day negotiation period addressing Iran's nuclear program and the opening of the Strait of Hormuz. Trump has publicly indicated a dual approach of negotiation and pressure. During an event at the U.S. Coast Guard Academy, he suggested that if Iran does not sign the document, the U.S. could take direct action to resolve the issue, implying potential military action if Iran does not comply. Iran has stated it is reviewing the new proposal, although there has been no clear indication of a change in its position. Iran demands the cessation of U.S. seizures of Iranian vessels and the release of frozen funds as conditions for a negotiated settlement. Additionally, it has called for an end to the conflict in Lebanon concerning Israel. The possibility of Netanyahu visiting Washington is also a factor. Israeli sources reported that Netanyahu wishes to meet directly with Trump in Washington within the next few weeks.* This article has been translated by AI. 2026-05-21 17:04:40

Two South Koreans released after Israeli seizure of Gaza-bound vessels SEOUL, May 21 (AJP) - Two South Koreans detained after Israeli forces seized vessels bound for the Gaza Strip have been released, Cheong Wa Dae said on Thursday. Their release comes after the Gaza-bound ship Kyriakos X, carrying humanitarian aid, was seized by the Israeli navy in international waters in the Mediterranean Sea near Cyprus last Thursday, and another vessel, Rina al Nabulsi, was seized by Israeli forces in waters near the Gaza Strip two days later, both carrying South Korean nationals. Welcoming their release, presidential spokesperson Kang Yu-jung said in a press briefing that the government "strongly regretted" Israel's seizure of the vessels and the detention of South Korean nationals, but "highly valued" Israel's decision to release them promptly. She added that their release followed President Lee Jae Myung raising serious concerns at a Cabinet meeting the previous day over the safety and rights of the detained citizens, prompting Israel to deport them soon afterward. At the meeting, Lee accused Israel of violating international law, citing an arrest warrant issued by the International Criminal Court for Israeli Prime Minister Benjamin Netanyahu, in a rare public criticism of a foreign head of state. Revealing that Israel had expressed hope that bilateral relations would not be affected, Kang said the government would act "with principle and responsibility" to ensure the safety of South Korean nationals and maintain close diplomatic communication with relevant countries. 2026-05-21 17:03:53

IBK Industrial Bank Donates 1 Billion Won to Support Multicultural Families IBK Industrial Bank announced on May 21 that it has donated 1 billion won to the Green Umbrella Child Fund for the 'Dida Project.'The Dida Project is a program aimed at supporting children from multicultural families of employees in small and medium-sized enterprises. Since 2024, the bank has contributed a total of 3.2 billion won to provide educational expenses and career development programs for these children, helping them continue their education and prepare for their futures.An IBK official stated, "Sustainable growth for small and medium-sized enterprises cannot be achieved solely through financial support. We are committed to ensuring that workers and their families can work, learn, and grow in a stable environment, fulfilling our social responsibility through warm finance."Additionally, IBK Industrial Bank supported social contribution activities with a total of 267.2 billion won in 2025 and plans to continue providing meaningful assistance to those in need.* This article has been translated by AI. 2026-05-21 17:03:00

Nvidia Confirms Strong Demand for AI Semiconductors Amid Market Concerns Nvidia has demonstrated robust demand for artificial intelligence (AI) semiconductors, reporting results that exceeded market expectations. However, regulatory challenges in China and the development of in-house chips by major tech companies pose potential risks for the future. According to reports from Reuters and the Associated Press on May 20, Nvidia's revenue for the first quarter of fiscal year 2027 (February to April 2026) reached $81.62 billion (approximately 122.2 trillion won), marking an 85% increase compared to the same period last year and surpassing market expectations of around $78.9 billion. The data center segment was the primary driver of this growth, with revenue soaring 92% to $75.2 billion year-over-year. The demand for graphics processing units (GPUs), networking equipment, and server systems necessary for AI development and service operations significantly boosted sales. Nvidia's outlook for the next quarter also exceeded market expectations. The company projected second-quarter revenue (May to July) at $91 billion, surpassing Wall Street's forecast of $86.84 billion, as reported by Reuters. Nvidia also announced a plan to buy back $80 billion of its shares. Jensen Huang, Nvidia's CEO, emphasized the expanding demand for AI semiconductors, stating, "Building AI factories is the largest infrastructure expansion in human history, and it is progressing at an incredible pace." AI factories refer to large data centers that support AI services. He noted that the demand for GPUs and servers continues to rise as AI services evolve beyond chatbots to include more complex business applications. Media outlets echoed this sentiment. The Associated Press noted that "demand for AI semiconductors drove Nvidia's performance improvement," while Reuters viewed Nvidia's results and outlook as key indicators of global investment trends in AI data centers. The Guardian highlighted the surge in data center revenue, pointing out that the expansion of AI infrastructure is ongoing. However, the stock market reaction was muted. Nvidia's shares rose 1.3% during regular trading but fell 1.26% in after-hours trading following the earnings announcement. Analysts suggest that the already high growth expectations may have been priced into the stock. Reuters reported that "investor interest is shifting from short-term results to the sustainability of AI investments." The key variables will be whether AI investments continue over the next one to two years and how much competition will grow in the inference semiconductor market necessary for AI service operations. China also remains a significant variable. With U.S. export restrictions and China's import bans intersecting, the timeline for revenue recovery remains uncertain. Nvidia did not factor in a recovery of data center sales in China for its next quarter outlook. Huang stated regarding the Chinese market, "I believe the market will open over time," but the H200 chips intended for sale in China have yet to receive approval from Chinese authorities. In a CNBC interview, he expressed, "I have no expectations regarding H200 sales," adding, "We have effectively ceded that market to them (Huawei)." From a long-term perspective, the development of in-house chips by major tech companies poses another variable. Companies like Alphabet, Amazon, and Microsoft are developing their own AI chips while still relying on Nvidia's semiconductors. AMD and Intel are also targeting the inference semiconductor market, indicating ongoing challenges to Nvidia's long-term dominance.* This article has been translated by AI. 2026-05-21 17:00:20

Hanwha Qcells to supply modules for South Korea's largest solar project SEOUL, May 21 (AJP) - Hanwha Solutions' Qcells division announced it will supply high-efficiency solar cells and modules for a 400-megawatt solar power project being developed by Korea South-East Power (KOSEP), the largest solar installation ever built on a single site in South Korea. The plant, set to rise across about 4.63 square kilometers of land in Haenam County, South Jeolla Province, is scheduled for completion in June 2028. KOSEP selected a preferred EPC (engineering, procurement and construction) contractor for the project on Tuesday, one day before the announcement. The chosen EPC firm will install about 640,000 solar modules incorporating cells manufactured exclusively at Hanwha Qcells' production facility in Jincheon, North Chungcheong Province — the company's largest domestic manufacturing base. "This project offered an opportunity to demonstrate the competitiveness of Korean-made solar technology on a large scale," said Yu Jae-yeol, head of Hanwha Qcells' Korea business division, adding that sustained policy support for domestic renewable energy and locally produced components could help restore the country's solar supply chain and drive further investment. The project arrives as South Korea pushes to expand its renewable energy capacity, with domestic manufacturers seeking to reclaim ground in a market long pressured by low-cost overseas competition. 2026-05-21 16:58:15

Funding Controversy Surrounds '21st Century Great Lady' Amid Historical Accuracy Concerns "Sending emails to the members of the Culture, Sports and Tourism Committee will speed things up. They will raise a fuss during the National Assembly audit. The Minister of Culture, Sports and Tourism will have to face their wrath. Let's send emails regardless of party affiliation." (From a community post) Amid controversy over historical inaccuracies in the drama "21st Century Great Lady," it has come to light that the show received production support from the Korea Creative Content Agency (KOCCA), a government agency, prompting calls for the repayment of funds. On May 21, various online communities in South Korea are mobilizing to share the email addresses of committee members to protest the issue. "21st Century Great Lady" was selected as a final project for KOCCA's 2025 'OTT-Specialized Content Production Support (IP Acquisition Type)' program. While the exact amount of funding allocated to the project has not been disclosed, long-form dramas can receive up to 2 billion won. The show has received the full amount of its funding in two installments. A KOCCA official stated, "After being selected for the project, 70% of the advance payment was disbursed, and the remaining 30% was released following a mid-term evaluation. We have received all the funding." However, there is a possibility that the funds could be reclaimed. KOCCA is set to conduct a performance evaluation this month to determine the success of the project. According to Article 55 of KOCCA's Content Support Project Management Regulations, if the evaluation is deemed unsatisfactory, the full amount of the funding and any accrued interest must be returned within 30 days. In this regard, a KOCCA official mentioned, "The evaluation schedule is still undecided," but added, "We are comprehensively reviewing overall measures, including potential fund recovery." Some critics argue that it is problematic for government funds to be allocated to a drama that has already sparked controversy over historical distortion. Some community users are filing requests for information disclosure with KOCCA. One user stated, "KOCCA should disclose the evaluation criteria and the evaluation details for 'Great Lady.' They need to explain why historical accuracy was not addressed in the evaluation of historical content and whether there are regulations regarding compensation or fund recovery if issues arise in future productions." In response, a KOCCA official noted, "Currently, historical accuracy is not mandatory at the project selection stage," but added that they are considering strengthening compliance checks, such as requiring plans for consultation or historical verification from the production support application or selection stages. They also stated, "We will work to prevent similar cases in the future." Meanwhile, in the drama's coronation scene in episode 11, subjects shouted 'cheonsae' instead of 'manse,' and the king wore a nine-crown instead of the twelve-crown typically used for emperors. Viewers have criticized this portrayal as inappropriate, even considering the fictional context, as it depicts Joseon royal ceremonies in a manner befitting a vassal state.* This article has been translated by AI. 2026-05-21 16:55:41

World No. 1 Scottie Scheffler: Focus on Your Own Path, Not Comparisons "What has always been important to me is working hard to become the 'best player' I believe I can be," Scottie Scheffler said during a press conference on May 21 at the TPC Craig Ranch in McKinney, Texas, ahead of the PGA Tour's CJ Cup Byron Nelson, which has a total prize purse of $10.3 million. As the top-ranked player in men's golf, Scheffler is widely recognized as the best player in the game today. He has achieved 20 wins on the PGA Tour and four major championships, and he won a gold medal at the 2024 Paris Olympics. He has also made history with 100 consecutive weeks at No. 1 in the world rankings and 10 consecutive wins when leading after 54 holes. On this occasion, Scheffler emphasized the importance of focusing on the journey toward his dreams rather than being tied down by specific goals. "I wasn't the type to write down my goals or set specific tournaments to win when I was younger. My dream was simply to play golf on the PGA Tour," he reflected. He added, "That doesn't mean I viewed the PGA Tour as an absolute goal I had to achieve. I was more interested in seeing where that journey would take me." Scheffler particularly cautioned against comparing oneself to others, urging a focus on personal growth. "I believe there is so much to learn from those around you. However, comparing yourself to others can sometimes be dangerous," he said. "Ultimately, what matters is progressing in your own way." He also offered warm encouragement to Kim Joo-hyung, who has been experiencing a slump. "Golf is a really tough sport. I think it's one of the hardest games out there. Everyone goes through ups and downs," he reassured. "Tom (Kim Joo-hyung) is still a young player. People often forget that he is only 23 years old," Scheffler noted. "Every time I see him, he has great energy and a bright expression. That’s one of Tom's biggest strengths. He always has a positive attitude and approach to everything. I’m confident we will see him competing for wins again soon." Scheffler showcased his exceptional skills at last year's CJ Cup, winning in a wire-to-wire fashion and tying the PGA Tour record for the lowest score over 72 holes at 31 under par (253). This year, all eyes will be on whether he can defend his title. If he succeeds, he will achieve back-to-back victories at the event, a feat not accomplished since Lee Kyung-hoon in 2022. Aiming for a second consecutive win in his hometown, Scheffler said, "I think a trophy with my name engraved in Hangul is really cool. I will do my best to win again. Competing on tour is always enjoyable, especially being able to play in my hometown. The fact that this tournament is named after Byron Nelson makes it even more meaningful to me." Scheffler's love for Korean cuisine has also drawn attention. He previously remarked, "It was a tough day with rain, but Korean food helped me power through," creating a buzz. This year, he expressed excitement about the Korean food provided during the tournament. "I’m looking forward to having Korean food in the players' dining area for lunch. The food has always been excellent. In terms of player dining, this is one of my favorite tournaments," he said with a smile. "If there’s spicy chicken, I might eat several servings. I really love spicy chicken dishes."* This article has been translated by AI. 2026-05-21 16:53:14

The Fall of Kumyang: A Cautionary Tale of Delisting in the Battery Sector Kumyang, once a leading player in the battery sector with a market capitalization nearing 10 trillion won, has faced a delisting decision. Analysts attribute this downfall to aggressive business expansion, a surge in speculative trading, and repeated controversies over disclosures that eroded market trust, culminating in a rejection of audit opinions. On May 21, the Korea Exchange reported that Kumyang filed for a suspension of the delisting decision at the Seoul Southern District Court. The exchange had announced the delisting decision the previous day during a meeting of the Securities Listing Committee. The court's ruling will determine the next steps in the delisting process. From Fine Chemicals to Battery Leader Founded in 1978, Kumyang initially produced fine chemical products, including foaming agents. In the 2020s, the company ventured into the battery business, gaining significant attention. At that time, Park Soon-hyuk, then the company's PR director, actively promoted the growth potential of the battery industry, earning the nickname "Battery Uncle" among individual investors. As the electric vehicle market expanded and optimism grew around the battery sector, Kumyang's stock price surged. On July 26, 2023, it reached an all-time high of 194,000 won, bringing its market capitalization close to 10 trillion won. At that point, some market observers referred to Kumyang as the "second EcoPro." However, the company's actual performance and profitability failed to meet market expectations, leading to a subsequent sharp decline in stock price. Trust Eroded Amid Controversies and Investments The issues began to surface during Kumyang's aggressive expansion efforts. The company undertook large-scale investments in mining operations in Mongolia and the Congo, as well as the construction of a battery plant in Busan. However, concerns grew over funding burdens and the reliability of disclosures. Particularly troubling was the drastic downward revision of projected revenues and operating profits from the Mongolian mine, initially estimated at 40 billion and 160 billion won, respectively, to just 6.6 billion and 1.3 billion won within a year. This sparked allegations of inflated performance projections, leading to criticism of what investors termed "exaggerated disclosures." In September 2024, amid a slowdown in the battery sector due to a temporary demand stagnation in electric vehicles, Kumyang announced a plan for a 450 billion won capital increase. However, the market reacted coldly to the large-scale fundraising effort, prompting the company to withdraw the plan in February of the following year. Audit Firm's Rejection Signals Delisting Risk Kumyang was designated as a non-compliant company by the exchange in October 2024 and again in March of the following year due to issues related to disclosures about the Mongolian mine and the capital increase. As penalties accumulated, the company was classified as a management issue. The final blow came when an external audit firm rejected its audit opinion, raising doubts about the company's ability to continue as a going concern. A rejection of an audit opinion is considered a significant warning sign of potential delisting for publicly traded companies. Following this, Kumyang entered a trading suspension. Just before the suspension on March 21 of last year, the stock closed at 9,900 won, marking a nearly 94.9% drop from its peak in July 2023. The market capitalization also plummeted to around 600 billion won. In March of this year, Kumyang received a second consecutive rejection of its audit opinion from an external auditor. Concerns Raised Over Regulatory Oversight While Kumyang has filed for a suspension of the exchange's delisting decision, industry insiders are skeptical about the likelihood of a favorable ruling. One industry source noted, "Given that much of the process has already progressed according to exchange regulations, it will be difficult to reverse the outcome." However, some are questioning the responsibility of financial authorities. Another industry source pointed out, "The delisting of a KOSPI-listed company is a significant event that can have considerable market impact." With nearly 240,000 small investors affected, there are concerns about potential oversights in the financial authorities' monitoring of exaggerated disclosures. In response to recent cases like that of Samchundang Pharm, financial authorities have proposed improvements to disclosure practices for pharmaceutical and biotech companies. However, there are ongoing evaluations that similar disclosure controversies continue to arise, with some proposed reforms remaining at a mere recommendation level, limiting their effectiveness.* This article has been translated by AI. 2026-05-21 16:51:00

Mick Mulvaney Discusses Protectionism as Key U.S. Policy at AMCHAM Event SEOUL, May 21 (AJP) - Mick Mulvaney, the former acting White House Chief of Staff, stated that many of the changes occurring in Washington today are not limited to President Trump but represent structural trends that will shape the U.S. political and economic order in the long term. He also noted that protectionism and a domestic-focused economic policy are likely to remain central to U.S. policy regardless of which party is in power. The American Chamber of Commerce in Korea (AMCHAM) hosted a special luncheon on May 21 at the Grand Hyatt Hotel in Yongsan, Seoul, featuring Mulvaney as a guest speaker. The event, titled 'The Return of America First: Global Business and Geopolitics in the Trump 2.0 Era,' included a one-on-one discussion between AMCHAM Chairman and CEO James Kim and Mulvaney, attended by over 120 members and representatives from major domestic and international companies. Participants discussed the policy direction of a potential second Trump administration, changes in U.S. trade and industrial policy, tariff policies, reshoring strategies, geopolitical risks concerning the Middle East and North Korea, and the restructuring of global supply chains focused on economic security. They also explored ways to enhance U.S.-Korea cooperation in strategic industries such as semiconductors, shipbuilding, energy, artificial intelligence (AI), and advanced manufacturing. Mulvaney served in various roles during the Trump administration, including acting White House Chief of Staff, Director of the Office of Management and Budget (OMB), and acting Director of the Consumer Financial Protection Bureau (CFPB). He elaborated on the decision-making processes and leadership style of the Trump administration, as well as the impact of the 'America First' policy on U.S. domestic politics, foreign policy, and the global economic order. He remarked that there is a growing fatigue regarding long-term foreign interventions in American society, and inflationary pressures are expected to persist for some time. He added that government intervention in strategic industries and the private market is likely to increase, emphasizing that these trends represent structural changes that will affect U.S. economic, industrial, and trade policies for years to come. Having reported daily to President Trump and met with him nearly 20 times a day, he described Trump as someone who “trusts no one.” He explained that Trump perceives allies as taking advantage of the United States. When asked by James Kim about Trump’s leadership style, Mulvaney referenced the TV show 'The Apprentice,' stating, “That’s President Trump.” Mulvaney also noted that Trump enjoyed watching intelligent people debate and preferred negotiating with those he liked. He identified two key criteria that Trump considers when evaluating foreign countries: defense spending relative to GDP and trade balances with the U.S. He stated, “By this standard, South Korea is not a bad country.” He further mentioned that Trump understands the geopolitics concerning South Korea, Japan, and Australia. James Kim remarked, “Mulvaney is one of the few individuals who has experienced the Trump administration up close in Washington. It is meaningful to have this timely and candid discussion here in Seoul.” Kim added that the conversation provided important insights into the changes in the America First policy, U.S. policy direction, and the implications of these changes for Korea, the U.S.-Korea alliance, and the global business community. * This article has been translated by AI. 2026-05-21 16:43:26

Han Yu-won Launches Second Recruitment for Online Sales Support Program Targeting 300 SMEs The Korea Small and Medium Enterprises and Startups Agency (Han Yu-won) is recruiting small and medium enterprises (SMEs) for the second phase of its "Comprehensive Online Sales Support" program, aimed at helping businesses expand their market reach. According to Han Yu-won, the program aims to support a total of 300 companies this year, aligning with the growing trend of online consumerism. The initiative seeks to enhance online distribution channels for SME products by connecting them with private retail channels and establishing a foundation for comprehensive support in e-commerce marketing and distribution. The second recruitment phase will run for 16 days, from May 21 to June 5, following the closure of the first phase on May 8. Selected SMEs will receive support for expanding online sales, including e-commerce advertising (such as time deals and exclusive promotions), specialized marketing and sales for vertical commerce, and tailored promotional and advertising initiatives for different platforms. Additionally, SMEs with outstanding sales performance will be offered comprehensive support programs, including opportunities to enter TV and data home shopping channels, launch offline pop-up stores, and enhance their marketing capabilities. Earlier, on May 20, Han Yu-won hosted the "2026 SME Purchase Consultation Fair," aiming to support 200 SMEs in their market development efforts. During the event, participating SMEs engaged in one-on-one consultations with product planners from distribution platforms tailored to their product categories. Lee Tae-sik, CEO of Han Yu-won, stated, "We will support SMEs in discovering the most suitable sales channels based on the experiences gained from the 'Comprehensive Online Sales Support' program to foster their growth."* This article has been translated by AI. 2026-05-21 16:40:41