Mirae Asset Securities Raises Target Price for Shinsegae International Amid Luxury Growth Mirae Asset Securities announced on May 21 that it has raised its target price for Shinsegae International to 19,000 won, citing expected benefits from the expansion of luxury consumption. The firm maintained its investment recommendation of "buy." Analyst Bae Seung-hoon stated in a report that the company’s main channel, department stores, has entered a phase of structural growth, and he anticipates that the company’s investment points will align with this trend. Bae noted that the high-end fashion segment, which has a significant share in the company's business, saw a 35% increase in growth in the first quarter compared to the same period last year, while imported cosmetics grew by 20%. He highlighted that these categories are contributing significantly to overall sales, with overseas fashion accounting for 37% and imported cosmetics for 30% of total revenue, suggesting even higher contributions in terms of profit. He added that the current economic environment is particularly favorable for luxury goods, and he expects continued performance improvements driven by this sector. Furthermore, Bae projected a significant increase in foreign demand, noting that foreign purchases at department stores are primarily focused on luxury goods and fashion, which overlap substantially with the company's business areas. He anticipates that the trend of benefiting directly from inbound foreign customers will continue alongside department store growth.* This article has been translated by AI. 2026-05-21 09:36:30

Hana Bank Supports K-Robot Development with HD Hyundai Robotics and Credit Guarantee Fund Hana Bank is set to provide 9 billion won ($7 million) in financial support to enhance the global competitiveness of South Korea's robot industry. The initiative aims to support not only the technological development of robotics companies but also their overseas exports.On May 21, Hana Bank announced that it has signed a memorandum of understanding (MOU) with HD Hyundai Robotics and the Credit Guarantee Fund to promote the development of next-generation robotic solutions and facilitate entry into international markets.This MOU is part of Hana Financial Group's 'Hana All Growth Project,' which aims to inject a total of 100 trillion won ($75 billion) over five years, including 84 trillion won ($63 billion) in productive finance, by 2030.HD Hyundai Robotics, a leader in the domestic industrial robot market, is accelerating the development and mass production of physical artificial intelligence (AI)-based collaborative robot technology.Under the agreement, Hana Bank and HD Hyundai Robotics will each contribute 4.8 billion won ($3.6 million) and 12 billion won ($9 million) to the Credit Guarantee Fund. The fund will use these resources to provide a total of 9 billion won in guarantee support.The beneficiaries will be outstanding partner companies participating in joint projects with HD Hyundai Robotics. Hana Bank and the Credit Guarantee Fund plan to provide these companies with working capital (short-term liquidity funds).Additionally, the Credit Guarantee Fund will offer preferential benefits for five years after the initial guarantee, including a 100% guarantee rate and fixed guarantee fee rates.A Hana Bank representative stated, "We will continue to provide comprehensive support as a reliable global partner for small and medium-sized enterprises."* This article has been translated by AI. 2026-05-21 09:33:59

U.S. Aircraft Carrier Group Deploys Near Cuba Amid Military Intervention Speculation As speculation grows regarding the possibility of U.S. military intervention in Cuba, a U.S. aircraft carrier group has been deployed to the Caribbean Sea near the island. The U.S. Southern Command announced on May 20 via X (formerly Twitter) that the Nimitz aircraft carrier, along with the destroyer USS Gridley (DDG 101) and the supply ship USNS Patuxent (T-AO 201), has been positioned in the region. The Southern Command described the Nimitz strike group as a "model of readiness, presence, unmatched operational range and lethality, and strategic advantage," noting that the Nimitz has demonstrated combat capabilities worldwide, contributing to regional stability and the defense of democracy from the Taiwan Strait to the Arabian Gulf. Commissioned in 1975, the Nimitz is the longest-serving active aircraft carrier in the U.S. Navy. Initially scheduled for retirement this year due to aging, its decommissioning has been postponed amid increased operational demands on U.S. forces, particularly due to the conflict with Iran. This deployment coincides with the announcement of charges against former Cuban President Raúl Castro, a key figure in the Cuban Revolution. On the same day, the U.S. Department of Justice charged Castro with involvement in the 1996 incident where two aircraft operated by the Miami-based Cuban exile group Brothers to the Rescue were shot down by Cuban military forces, resulting in the deaths of four individuals. Earlier this year, the U.S. captured former Venezuelan President Nicolás Maduro on drug terrorism charges, also deploying an aircraft carrier group to the Caribbean at that time. The deployment of the carrier group follows reports that President Donald Trump is seriously considering military intervention in Cuba. Politico reported on May 18 that Trump believes energy supply chain disruptions and economic sanctions alone will not lead to regime change in Cuba, prompting a review of military options. U.S. military leadership is reportedly exploring various military scenarios beyond just capture and extradition operations. Since taking office, Trump has labeled Cuba a failed communist state, applying pressure through sanctions and energy supply chain disruptions. He has also indicated that Cuba could be the next target for military action following Venezuela, warning that Cuba could become a military target after the conflict with Iran.* This article has been translated by AI. 2026-05-21 09:31:26

KB Securities Sets Target Price of 440,000 Won for NC Following Successful Game Launches KB Securities announced on May 21 that it has initiated coverage of NC with a target price of 440,000 won, citing expectations for continued success of new game launches, improved profitability, and momentum for global market expansion. Lee Ji-eun, a researcher at KB Securities, stated, "We present NC as our top pick in the gaming sector, highlighting key investment points such as performance growth driven by consecutive successful game launches, profitability improvements through cost efficiency, global market expansion momentum, and attractive valuation compared to competitors." KB Securities forecasts NC's operating profit for this year to reach 500.6 billion won, a staggering 3,012% increase from the previous year. The firm believes that the sustained success of 'Aion 2' and 'Lineage Classic' indicates that NC is entering a significant phase of performance improvement. Both games are expected to maintain stable traffic and revenue streams, suggesting strong results for the second quarter following a solid first quarter. Particularly, 'Aion 2' is noted not only for its commercial success but also for significant changes in user perception. The development team's ongoing communication broadcasts have successfully restored user trust, fostering a positive community atmosphere. The increase in the proportion of in-game purchases for mobile games is also seen as contributing to profitability improvements. KB Securities estimates that the in-game purchase ratio for 'Aion 2' is about 80%, while the three 'Lineage' mobile games are around 30%. Notably, the in-game purchase ratios for the 'Lineage' mobile games are gradually rising. Additionally, the upcoming global launch of 'Aion 2' in September is identified as a key momentum factor. Given that the current publishing regions are primarily South Korea and Taiwan, a successful global launch could lead to a reevaluation of NC's valuation. The researcher concluded, "Despite possessing both performance and new game momentum, NC is undervalued compared to competitors lacking such momentum. We strongly recommend buying and maintain our top pick status."* This article has been translated by AI. 2026-05-21 09:30:00

Candidates Launch Campaigns for Seoul Mayor Election Jung Won-o of the Democratic Party and Oh Se-hoon of the People Power Party officially launched their campaigns for the Seoul mayoral election on May 21. Jung is focusing on his political hometown of Seongdong, while Oh is reaching out to citizens in Gangbuk, where his elementary school is located. On the first day of the campaign, Jung visited the Dong Seoul Postal Center in Gwangjin-gu at midnight to encourage workers and personally moved packages in the sorting area. He was accompanied by Jung Cheong-rae, the Democratic Party leader, who also participated in the postal work. After completing his initial campaign schedule, Jung shared on Facebook, "I wanted to deliver the future of Seoul to the citizens and our descendants through this local election while experiencing their lives. I will do my best to ensure that Seoul stands on a safe foundation." Later that morning at 10:30 a.m., Jung held an official campaign launch at Wangsimni Station in Seongdong-gu, which is considered his political hometown. Jung previously served three terms as the district chief there. The launch event is expected to showcase the strength of the Democratic Party, with Jung and numerous officials from 25 autonomous districts and 48 regional committees in attendance. Meanwhile, Oh began his campaign at midnight by visiting the Garak Agricultural and Fishery Wholesale Market in Songpa-gu, greeting merchants and assisting with loading cabbages onto trucks. He stated, "Thanks to the self-employed individuals who quietly work in difficult circumstances, the economy of Seoul continues to thrive. I will work hard alongside those who are building a bright future for Seoul." At 9:30 a.m., Oh delivered his campaign message in the alley near his elementary school in Gangbuk, where he grew up in a makeshift village. Oh then plans to meet voters in the districts of Seodaemun, Yeongdeungpo, Guro, and Seongbuk before holding his official campaign launch at Cheonggye Plaza at 7 p.m. Both candidates will conclude their first official campaign schedules in Gangnam. Jung will revisit the construction site of the GTX-A line at Samsung Station, where issues with missing rebar have arisen, at 2:50 p.m. He will then engage in a focused campaign and greet citizens during rush hour at Gangnam Square at 6 p.m. Oh will also wrap up his day in Gangnam, greeting citizens near Gangnam Station at 8 p.m. to solicit their support. 2026-05-21 09:27:00

KT Establishes Privacy Protection Advisory Committee with External Experts KT announced on May 21 that it will establish a "Privacy Protection Advisory Committee" to address changes in the privacy management landscape resulting from advancements in artificial intelligence (AI) technology and the expansion of data-driven services. The committee aims to strengthen governance focused on proactive privacy management. It seeks to establish privacy protection standards and measures that align with customer expectations, ensuring objectivity and reliability. To achieve this, KT has invited privacy protection experts from various fields, including policy and law, technology and security, industry and services, and ethics and user protection, to serve as advisory committee members. The company plans to continue expanding the committee in the future. Committee members include Yeom Heung-yeol (Professor Emeritus, Soonchunhyang University), Lee Hee-jung (Professor, Korea University Law School), Ryu Jae-cheol (Professor, Chungnam National University Department of Computer Convergence), Son Ki-wook (Professor, Seoul National University of Science and Technology Department of Computer Engineering), Shim Sang-hyun (Secretary General, Korea CPO Forum), and Kim Kyung-ha (CEO, J&Security). The committee will provide advice on enhancing compliance and accountability as data processors, ensuring the safety of personal information and the appropriateness of data usage, and improving systems to prevent and mitigate personal data breaches. KT plans to launch the committee within this month and begin full operations. KT CEO Park Yoon-young will attend the launch ceremony to present certificates to the advisory members and discuss the direction for enhancing the privacy protection system. Kim Chang-o, KT's Chief Privacy Officer, stated, "In the AI era, securing customer trust in privacy protection is as crucial as the innovation in data utilization. We will work closely with external experts to establish a global-level privacy protection system and create a trustworthy data environment for our customers." Meanwhile, LG Uplus established an "Information Security Advisory Committee" composed of external experts in the cybersecurity field in 2023. SK Telecom is receiving advice from the Information Security Innovation Special Committee established by the SK Group last year.* This article has been translated by AI. 2026-05-21 09:24:55

HD Hyundai Robotics Launches $9 Million Cooperative Support Program HD Hyundai Robotics, a subsidiary of HD Hyundai's robotics division, is establishing a cooperative financial support program to assist its partners. On May 21, the company announced that it signed a memorandum of understanding (MOU) with Hana Bank and the Korea Credit Guarantee Fund on May 20 at its headquarters in Daegu. The agreement aims to secure new growth engines for the domestic robotics industry and enhance competitiveness in the global market through collaboration between businesses and financial and public institutions. Under the agreement, HD Hyundai Robotics and Hana Bank will jointly contribute 600 million won (approximately $450,000), while the Korea Credit Guarantee Fund will provide guarantees worth 9 billion won (about $6.75 million) to partner companies in need of loans. The support will be available to domestic mid-sized and small partners engaged in joint production, research and development, and procurement with HD Hyundai Robotics. These companies will benefit from a 100% guarantee rate and fixed guarantee fee rates, significantly easing their financial burden for future business initiatives. A representative from HD Hyundai Robotics stated, "This agreement lays the foundation for financial support, enabling our partners to operate more stably and encouraging research and development (R&D) and investment expansion. We will continue to promote mutual growth with our partners through various support programs." Additionally, HD Hyundai Robotics is accelerating the development of humanoid robots based on physical artificial intelligence (AI) to leverage synergies with HD Hyundai Group's shipbuilding business. The company is collaborating with AI specialists to develop bipedal humanoid robots for shipyard welding and is pushing for the commercialization of automation technologies tailored to shipyard environments. This initiative aims to accelerate the establishment of 'smart shipyards' where robots can replace hazardous and precise tasks.* This article has been translated by AI. 2026-05-21 09:22:20

HD Hyundai Partners with TerraPower to Target Next-Generation Nuclear Market Jung Ki-sun, chairman of HD Hyundai, is accelerating efforts to target the global market for next-generation small modular reactors (SMRs) as a key growth area. The company is expanding its business portfolio, traditionally focused on shipbuilding and marine industries, into the nuclear equipment sector to strengthen its energy value chain. On May 21, HD Hyundai announced that its shipbuilding subsidiary, HD Hyundai Heavy Industries, has signed a basic agreement with TerraPower for the supply of sodium reactors in the United States. The signing ceremony was attended by Won Kwang-sik, head of HD Hyundai Heavy Industries' Marine Energy Division, and Chris Levesque, CEO of TerraPower, among other officials. Under the agreement, HD Hyundai Heavy Industries has become the preferred negotiation partner for manufacturing and supplying key equipment for TerraPower's sodium reactor systems (RES), leveraging its strong manufacturing capabilities and extensive track record. This collaboration is seen as a strategic move for HD Hyundai to establish itself as a key player in the global SMR supply chain, going beyond mere equipment supply. The two companies have been jointly researching manufacturing feasibility, cost competitiveness, and supply schedules since signing a strategic agreement in March 2025 to expand the manufacturing supply chain for sodium reactors. Notably, Chairman Jung previously met with Bill Gates, founder of TerraPower, in the U.S. last year to discuss expanding cooperation on SMRs, marking a significant push for the nuclear power business. At that time, HD Hyundai also participated in supplying key equipment for TerraPower's next-generation sodium reactor, gaining recognition for its technological capabilities. Won Kwang-sik stated, "The signing of this agreement will strengthen our strategic partnership with TerraPower and serve as a crucial foundation for entering the global SMR market. We will strive to ensure timely supply of sodium reactor equipment and establish a continuous production base through our joint research, enhancing our global competitiveness." Additionally, on the same day, HD Hyundai signed a tripartite memorandum of understanding with TerraPower and Hyundai Engineering & Construction to collaborate on the next-generation sodium reactor business. This agreement will enable HD Hyundai and Hyundai Engineering & Construction to establish a foundation for design, procurement, and construction execution, as well as major equipment supply, to actively respond to the next-generation nuclear power market in the U.S. and globally.* This article has been translated by AI. 2026-05-21 09:20:22

Government to Revise Apartment Management Fees to Combat Corruption The South Korean government is set to revise its apartment management system to reduce corruption and opaque contracting practices in the execution of management fees. The Ministry of Land, Infrastructure and Transport announced that it will eliminate the exception that allowed properties to forgo external accounting audits with resident consent and will also limit the use of direct contracts. According to a report presented to the Special Task Force on Living Costs on May 21, the average management fee for apartments in March was 224,728 won per household, a 2.1% increase from 220,111 won in the same month last year. However, this figure represents a 7.26% decrease from the previous month’s average of 242,316 won. The ministry noted that the rise in labor costs had already been accounted for in January, and seasonal factors contributed to the drop in fees from the previous month. However, the ministry warned that management fees could rise again after May due to increased use of air conditioning and higher electricity and water consumption as temperatures rise. As of March, the breakdown of management fees included general management costs of 40,903 won, security costs of 27,181 won, cleaning fees of 18,657 won, and electricity charges of 49,001 won. The long-term maintenance fund was set at 22,079 won. From March 25 to April 9, the government conducted inspections of management fee assessments and executions across 19 apartment complexes in 16 cities and provinces. The inspections targeted properties that failed to comply with management fee disclosure regulations or did not release the results of their 2024 accounting audits, as well as those that exhibited multiple anomalies in the early warning system. The inspections resulted in 38 instances of on-site guidance and corrective measures, along with 19 pre-notices for fines. Major violations included failing to disclose management fee details or construction and service contracts for extended periods, not maintaining management fee records and supporting documents, improperly executing management fees, and engaging in direct contracts despite being subject to competitive bidding. Under current law, violations of disclosure obligations, failure to maintain accounting documents, and inappropriate direct contracts can result in fines of up to 5 million won. Improper calculation, assessment, or execution of management fees can lead to fines of up to 10 million won. To prevent misconduct by resident representative councils and management entities, the government plans to eliminate the exception for accounting audits. Currently, mandatory managed apartments must undergo annual audits, but those with fewer than 300 units can skip the audit if more than half of residents agree in writing, while those with more than 300 units require two-thirds approval. The government aims to abolish this provision to prevent the evasion of audits. Discussions on similar measures to eliminate exemptions from external audits have also been raised in the National Assembly. Sanctions against housing managers involved in management fee corruption will also be strengthened. The government is proposing to apply stronger penalties, including revocation of qualifications, for those who cause financial harm to residents through intentional or gross negligence or who receive improper benefits. Criminal penalties will also be increased. Currently, failing to maintain or falsifying records can result in up to one year in prison or fines of up to 10 million won, but this will be raised to a maximum of two years in prison or fines of up to 20 million won. Refusing to allow access to records or provide them will see penalties increase from a maximum fine of 5 million won to up to one year in prison or fines of up to 10 million won. Additionally, fines for failing to provide management fee details will be raised from a maximum of 5 million won to up to 10 million won. The contracting process for construction and services will also be revised. The government plans to limit direct contracts to urgent situations such as natural disasters or safety incidents, or when specific expertise is required. Insurance and general goods will be excluded from direct contracting. Existing contracts for cleaning and security services will also be subject to restrictions based on performance evaluations. Requirements for limited competitive bidding will be tightened. The Ministry of Land, Infrastructure and Transport has noted that excessive restrictions on participation qualifications undermine the principles of competitive bidding and contribute to rising management fees. In cases where limited competitive bidding is justified by technical capabilities, prior consent from residents will be required for patents or new technologies necessary for construction and services. The ministry cited a case from January 2023 in which a painting and waterproofing contract worth 2.1 billion won was awarded through collusion among companies due to restrictions on capital and technical capabilities. Next month, the ministry plans to revise guidelines for selecting housing managers and contractors and will propose amendments to the Apartment Management Act. If necessary, additional investigations and audits regarding management fee assessments and executions will be conducted, and administrative procedures for imposing fines will be initiated through local governments.* This article has been translated by AI. 2026-05-21 09:12:59

Eastar Jet Partners with Silla University to Train Aviation Maintenance Personnel Eastar Jet is taking the lead in training talent for aviation maintenance, repair, and overhaul (MRO).On May 21, Eastar Jet announced that it has signed a strategic memorandum of understanding (MOU) with the Aviation Maintenance Department at Silla University to foster talent in aviation MRO.The agreement aims to systematically develop aviation maintenance personnel and establish a foundation for early and stable workforce recruitment.The two parties will collaborate in various areas, including the joint development of aviation maintenance training programs, sharing educational infrastructure such as training facilities and equipment, exchanging information on aviation maintenance technology and regulations, and providing guest lectures and mentoring from industry professionals.Notably, during the summer and winter breaks, Silla University will offer an internship program for fourth-year students at Eastar Jet's maintenance center at Gimhae Airport.During the internship, Eastar Jet will provide high-quality curriculum support, including tours of B737-8 aircraft maintenance sites, hands-on training in the use of the maintenance history computerized system (ERP), and practical education on the maintenance quality management system (SMS), helping students grow into aviation maintenance experts.An Eastar Jet official stated, "We plan to expand opportunities for hands-on aviation maintenance education to support the development of skilled personnel. We will continue to nurture aviation maintenance talent across various regions, contributing to the competitiveness of the domestic aviation maintenance industry."Meanwhile, Eastar Jet has been expanding its foundation for training maintenance personnel through industry-academia cooperation since establishing a consolidated maintenance center at Gimpo Airport last October.* This article has been translated by AI. 2026-05-21 09:09:33