Yeo Han-goo: Accelerating Ongoing Trade Negotiations for Swift Results Yeo Han-goo, head of the Trade Negotiation Bureau at the Ministry of Trade, Industry and Energy, stated on May 18 that in light of the ongoing uncertainties in the global trade environment and the expanding protectionist measures by major countries, it is essential to accelerate ongoing trade agreement negotiations to achieve prompt results for South Korean companies' stable market access. Yeo made these remarks during the 56th Trade Promotion Committee meeting held at the Seoul Chamber of Commerce and Industry, attended by relevant government departments. He emphasized the importance of close cooperation between the government and industry to proactively respond to these challenges. The meeting addressed several key topics, including the current trends in World Trade Organization (WTO) discussions and future responses, the status of European Union (EU) steel measures and response plans, updates on recent trade agreement negotiations, and plans for consultations related to Section 301 of the Trade Act with the United States. Participants analyzed the domestic impacts following the failure to reach an agreement on the extension of the e-commerce moratorium and the TRIPS moratorium during the recent 14th WTO Ministerial Conference (MC-14) and General Council meetings. The e-commerce moratorium maintains a duty-free practice for electronic transmissions, while the TRIPS moratorium postpones disputes regarding non-violation situations under intellectual property agreements. Previously, Yeo had discussed the moratorium extension at the WTO MC-14 held in Cameroon from March 26 to 30. However, due to opposition from some member countries, the agreement was not finalized. The Ministry expressed regret over the failure to extend the moratorium during the WTO General Council meeting held in Geneva on June 6-7. The government plans to collaborate with like-minded countries to push for the moratorium extension and actively participate in discussions on WTO reforms. Additionally, the meeting reviewed recent developments regarding the EU's steel measures and discussed cooperation plans. It also assessed the progress of major trade agreements, including the Korea-India Comprehensive Economic Partnership Agreement (CEPA) and the Korea-Mongolia CEPA, aiming to achieve results within the year. Furthermore, updates were shared regarding the ongoing Section 301 investigation by the U.S. Trade Representative (USTR). Yeo stated, "We will actively take on a leadership role that matches our country's status, which has grown through free trade, in the discussions on restoring the WTO and multilateral systems. We will do our utmost to secure a stable trade environment for our companies and maximize national interests by utilizing various channels, including the WTO, trade agreements, and bilateral consultations."* This article has been translated by AI. 2026-05-18 13:07:56

KOSPI Reclaims 7500 Mark Amid Heavy Buying by Individual Investors The KOSPI index has reclaimed the 7500 mark, bolstered by significant buying from individual investors despite a sell-off by foreign investors. In contrast, the KOSDAQ index is experiencing a decline of over 2%, primarily driven by weakness in biotech and robotics stocks. According to the Korea Exchange, as of 10:50 a.m. on May 18, the KOSPI rose by 18.83 points (0.25%) to reach 7512.01. Earlier in the session, it had dipped below 7200 but rebounded thanks to strong buying from individual investors, who recorded a net purchase of 1.6191 trillion won. Meanwhile, foreign investors sold off 1.7513 trillion won, while institutional investors made a net purchase of 85.2 billion won. Among the top stocks by market capitalization on the KOSPI, the performance was mixed. Semiconductor and IT-related stocks like Samsung Electronics (up 4.25%), Samsung Electronics Preferred (up 2.29%), SK Hynix (up 1.76%), and Samsung Electro-Mechanics (up 0.79%) showed strength. Conversely, stocks such as HD Hyundai Heavy Industries (down 4.38%), Hyundai Motor (down 4.14%), LG Energy Solution (down 2.52%), Samsung Biologics (down 2.04%), Doosan Enerbility (down 1.99%), and SK Square (down 1.37%) faced declines. The KOSDAQ index, at the same time, recorded a drop of 23.05 points (-2.04%), settling at 1106.77. In the KOSDAQ market, foreign investors made a net purchase of 39.2 billion won, but individual and institutional investors sold off 10.2 billion won and 48 billion won, respectively, contributing to the index's downward trend. Most of the top stocks by market capitalization on the KOSDAQ are also in decline. Stocks such as Rainbow Robotics (down 6.79%), ABL Bio (down 6.87%), Samchundang Pharm (down 5.93%), Alteogen (down 3.93%), Kolon TissueGene (down 3.23%), and HLB (down 3.08%) are experiencing losses. However, JUSUNG Engineering saw a significant surge of 29.96%, while EcoPro BM (up 1.39%) and Rino Technology (up 1.39%) showed slight gains. 2026-05-18 13:05:38

LS Electric Secures $70 Million Power Equipment Contract for Major U.S. Data Center LS Electric announced on May 18 that it has signed a supply contract worth approximately $70 million (about 105 billion won) for power distribution equipment to be used in a large data center operated by a major tech company in the United States.With this contract, LS Electric will provide essential high-end power equipment, including vacuum circuit breakers (VCB), to the core power network of the data center. The company has garnered strong trust from global tech giants, which is seen as a significant achievement.In the highly competitive U.S. power distribution market, LS Electric has established itself as a major player, recognized for its exceptional technology, quality, and commitment to timely delivery.Recently, the U.S. market has seen a surge in investments in large-scale data centers and power infrastructure, dispelling concerns about an 'AI bubble' and supporting the expansion of practical artificial intelligence (AI) services.Riding this market trend, LS Electric expects to secure additional large contracts based on its overwhelming technological capabilities.The company recently signed a $220 million (about 319 billion won) supply contract for power distribution solutions with Bloom Energy. This agreement will allow LS Electric to participate in the construction of power infrastructure for a major hyperscale data center being developed in New Mexico.Last month, LS Electric also entered into a $114.97 million (about 170.3 billion won) sales and supply contract with Amazon Web Services (AWS) to provide switchgear and distribution transformers for a hyperscale data center being built by AWS.LS Electric plans to actively target the booming North American power infrastructure market by enhancing its localized power solutions and expanding its market share through aggressive sales efforts.An LS Electric official stated, "This contract reflects our strong trust as a major player in the North American market, combining both technological prowess and brand power. Based on our recent large contract successes, we aim to solidify our position as a global leader in the rapidly growing North American power infrastructure market."* This article has been translated by AI. 2026-05-18 13:04:23

Kim Jong Un Orders Strengthening of Frontline Troops Kim Jong Un, Chairman of the Workers' Party of Korea, has directed the strengthening of frontline troops stationed along the southern border. On May 18, the Korean Central News Agency reported that Kim convened a meeting of division and brigade commanders at the Party's Central Committee headquarters the previous day to discuss a series of "important military issues." During the meeting, Kim emphasized the need to reinforce the first-line units guarding the "southern border" and transform the border into an impregnable fortress, in line with the Party's territorial defense policy. He also announced plans to reorganize military structures as a "critical decision" to ensure a more thorough deterrence against war. Additionally, he outlined strategies to enhance the military capabilities of key units, including the first-line troops. Kim stated, "We will establish organizational measures to renew our military in terms of military structure and technology," highlighting the responsibilities and roles of commanders in this effort. Yang Moo-jin, a professor at the University of North Korean Studies, noted that the directive to make the border an impregnable fortress likely reflects pressure on field commanders to strengthen physical barriers and isolation from South Korea, including the deployment of tactical nuclear weapons and new artillery forces. Kim further stressed the need to redefine operational concepts across all domains to match the rapid modernization of military equipment and to expedite plans for practical training. He instructed commanders that training for combat readiness is the military's primary duty, urging them to adjust training systems in line with the evolving nature of modern warfare and the development of the military. Kim asserted, "We are building a powerful military," and stated that the tasks outlined in the upcoming five-year plan will significantly enhance the military's strategic readiness and deterrence capabilities compared to the present. Hong Min, a senior researcher at the Korea Institute for National Unification, noted that this is the first report of a meeting of division and brigade commanders since Kim took power, suggesting it conveys the leader's commitment and plans for implementing modern training and weaponry over the next five years.* This article has been translated by AI. 2026-05-18 13:02:25

NOWZ wins ASEA Hot Trend award for second straight year SEOUL, May 18 (AJP) - K-pop boy band NOWZ won the Hot Trend award for the second consecutive year at the 2026 Asia Star Entertainer Awards (ASEN) held Saturday in Japan, the group's agency Cube Entertainment said Monday. The five-member act — Hyunbin, Yoon, Yeonwoo, Jinhyuk and Siyun — received the award during the ceremony at Belluna Dome in Saitama. Formerly known as NOWADAYS, NOWZ debuted in April 2024 as Cube Entertainment's first new boy group in eight years. The group changed its name to NOWZ last year and has since been expanding its activities in Japan and other Asian markets. Accepting the award, NOWZ thanked its fans, known as DayN, and agency staff, saying the group would continue to connect with audiences through future activities. NOWZ opened the ceremony with a medley of songs by senior Cube Entertainment artists — BEAST's "Fiction," BTOB's "I'll Be Your Man," i-dle's "TOMBOY" and Pentagon's "Shine" before performing "EVERGLOW," the title track from its first mini album "IGNITION" released last year, and "AMMO," a lead track from its first Japanese EP "NOWZ" released in March. NOWZ has recently expanded its activities in Japan through appearances on local platforms and broadcasters, including ABEMA and TV Tokyo. The group also released the digital single "Our Beginning," produced by group's leader Hyunbin. 2026-05-18 12:57:11

aespa to release second full-length album 'LEMONADE' on May 29 SEOUL, May 18 (AJP) - K-pop girl band aespa will release its second full-length album "LEMONADE" on May 29, SM Entertainment said Monday. The 11-track album, which includes the title track "LEMONADE," the prerelease single "WDA (Whole Different Animal) (Feat. G-DRAGON)" and a featured version of "LEMONADE," will be released at 1 p.m. (0400 GMT) through major streaming platforms and as a physical copy. aespa — consisting of Karina, Giselle, Winter and Ningning — debuted in 2020 with "Black Mamba" and is known for its AI avatar and metaverse-themed concept, as well as hits including "Next Level," "Savage," "Spicy” and "Drama." LEMONADE is an electronic dance track built around a heavy synth bass sound. Its lyrics draw on the phrase “If life gives you lemons, make lemonade,” using the metaphor to express turning hardship into opportunity. The group previewed the album through music video and concept photo teasers for “WDA,” emphasizing a darker visual direction and hip-hop-based performance style. SM Entertainment said the title track will show a contrasting side of aespa and mark a new chapter in the group’s fictional universe. 2026-05-18 12:56:56

DAY6 to hold three KSPO Dome concerts for 10th anniversary tour finale SEOUL, May 18 (AJP) - K-pop band DAY6 will hold three concerts at KSPO Dome in July as the finale of its 10th anniversary tour, JYP Entertainment said Monday. The four-member group — Sungjin, Young K, Wonpil and Dowoon — will stage "DAY6 10th Anniversary Tour FINALE in SEOUL" from July 3 to 5 at KSPO Dome in Olympic Park in Seoul's Songpa District. The concerts will close out the group's 10th anniversary tour, which launched at Goyang Stadium in Gyeonggi Province in August 2025 and spanned 27 shows across 16 cities in South Korea and abroad. The domestic leg of the tour, which ran from February through May, included stops in Daegu, Gwangju, Daejeon and Busan. DAY6 debuted under JYP Entertainment in 2015 and has built a strong following with self-written pop-rock songs built around band performance and emotionally direct lyrics. The group has steadily expanded its concert footprint in South Korea, selling out venues including Jamsil Indoor Stadium, Inspire Arena and Gocheok Sky Dome — which the group became the first K-pop band to headline — before drawing 80,000 fans across two sold-out shows at Goyang Stadium last August as part of the current tour. The upcoming finale concerts will mark DAY6's third appearance at KSPO Dome in a little over a year. The band previously performed at the venue in May 2025 for the finale of its third world tour and returned in December for its special concert "The Present." The group is scheduled to continue the tour in Kobe, Japan, on June 20 and 21 before returning to Seoul for the finale. Further details on ticket sales will be announced through the group's official social media channels at a later date. 2026-05-18 12:56:25

Finance chief Koo departs for Paris G7 meeting, London investment relations session SEOUL, May 18 (AJP) - Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol departed on Sunday to attend the Group of Seven Finance Ministers and Central Bank Governors meeting and to host a South Korean economy investment relations session. Amid expanding volatility in international oil prices and exchange rates driven by the stalled dispute between the U.S. and Iran, the government plans to manage national creditworthiness through briefings for foreign investors and consultations with financial authorities of major nations. According to the Ministry of Economy and Finance, Koo will attend the G7 Finance Ministers and Central Bank Governors meeting in Paris, France, on Tuesday. The meeting will be attended by G7 member nations—including the United States, Japan, the United Kingdom, France, Germany, Italy, and Canada—alongside invited countries such as South Korea, India, Brazil, and Kenya, and leaders of major international organizations including the IMF, World Bank, OECD, and Financial Stability Board (FSB). Koo is also scheduled to hold bilateral meetings with British Chancellor of the Exchequer Rachel Reeves, Canadian Minister of Innovation, Science and Industry François-Philippe Champagne, and German Vice Chancellor and Minister of Finance Lars Klingbeil to discuss economic and financial cooperation. While South Korea is not a full member of the G7, it has been repeatedly invited to major multilateral economic meetings due to its supply chain stability and competitiveness in the semiconductor and AI industries. The government is also emphasizing that South Korea can serve as a "middle-power platform" bridging advanced and emerging economies. The upcoming meeting will primarily focus on global imbalances and the establishment of international partnerships. Recently, "global imbalances"—such as excessive surpluses in China and oil-producing nations and foreign exchange instability in emerging markets caused by dollar dominance—have re-emerged as key global economic issues. In his opening remarks, Koo plans to emphasize that the complex crises stemming from the prolonged Middle East conflict cannot be resolved by the efforts of a single country, while sharing South Korea’s emergency economic response plans and policies to boost domestic demand and investment. He will also present perspectives on major global issues from a middle-ground position connecting G7 members and emerging countries. Prior to the G7 schedule, Koo will host an investment presentation on the South Korean economy for major global investment institutions in London on Monday morning, local time. The government plans to explain the global competitiveness of the Korean economy, alongside core policy directions such as capital market advancement and the implementation of a hyper-innovative economy, while calling for active investment expansion in South Korea. The government has recently focused on improving accessibility for global investors through foreign exchange market structural reforms and capital market advancement policies. Representative examples include the extension of foreign exchange market operating hours, the reorganization of the short-selling system, and efforts for inclusion in the World Government Bond Index (WGBI) since April, as well as ongoing bids to join the Morgan Stanley Capital International (MSCI) Developed Markets (DM) Index. London is evaluated as one of Europe's largest financial hubs, where major global bond and foreign exchange investors are concentrated. Amid expanding volatility in global capital flows due to geopolitical risks in the Middle East and a strong dollar, the government appears focused on securing trust in the Korean market through direct contact with overseas investors. On the same day, Koo will hold individual meetings with top executives from major global financial firms, including HSBC and Schroders. The meetings will cover the current state of the global economy and international financial markets, alongside explanations of the South Korean government’s foreign exchange and capital market reform efforts and improvements to the investment environment. Koo will subsequently meet with European Bank for Reconstruction and Development (EBRD) President Odile Renaud-Basso to discuss development cooperation projects integrating artificial intelligence (AI) and support measures for developing nations. 2026-05-18 12:55:51

Putin to Visit China Days After Trump, Highlighting China's Growing Diplomatic Role Russian President Vladimir Putin will make a state visit to China from May 19 to 20, just four days after U.S. President Donald Trump’s visit. The Chinese state media outlet Global Times reported that it is highly unusual for a country to host both the U.S. and Russian leaders within a week, emphasizing China's rise as a center of global diplomacy. It is not just the U.S. and Russia. Following French President Emmanuel Macron's visit last December, British Prime Minister Keir Starmer also traveled to China earlier this year. Leaders of permanent members of the UN Security Council have increasingly visited Beijing in recent months. Global Times anticipates that China's influence in global governance will become more pronounced during the Asia-Pacific Economic Cooperation (APEC) summit scheduled for this fall. Li Haidong, a professor at the China Foreign Affairs University, noted that both the U.S. and Russia, which have been in prolonged conflict over issues like the Ukraine crisis and European security, are treating China as a 'must-visit' destination. He described it as symbolically significant for a single country to emerge as a key diplomatic platform for two major powers. Li added that the simultaneous engagement of leaders from four permanent UN Security Council members with China reflects a shared recognition of China's international standing. He stated that advancing major international agendas on key issues such as economic recovery, climate governance, nuclear non-proliferation, and regional security is challenging without China's involvement. This recognition also indicates that major powers view China as a stabilizing factor amid increasingly unstable global circumstances. In this context, Ray Dalio, founder of Bridgewater Associates, remarked on May 16 through Bloomberg that there is a growing belief among U.S. allies that the U.S. may not fully protect them in times of crisis. He interpreted the increasing number of leaders seeking relations with China as a form of 'tribute system,' acknowledging China's regional influence and power. Ahead of Putin's visit, Chinese state media mobilized to create a positive atmosphere. The People's Daily, the official newspaper of the Communist Party of China, stated on May 18 that "China-Russia relations are at their best in history," highlighting a model of great power relations characterized by enduring friendship, comprehensive strategic cooperation, and mutual benefits. The state-run Xinhua News Agency also emphasized in a commentary that "practical cooperation is the intrinsic driving force behind the stable development of China-Russia relations," noting that both countries have consistently collaborated across various fields despite a complex and rapidly changing international environment. During his two-day state visit, President Putin is expected to hold talks with President Xi Jinping, issue a joint statement, and sign multiple agreements between government departments and enterprises. There are expectations that the two countries will once again showcase their close strategic cooperation, contrasting with the lack of clear agreements reached by President Trump during his recent summit with Xi on key issues such as Iran, Taiwan, and trade disputes. Since taking office, President Putin has visited China more than 20 times and has met with Xi over 40 times, maintaining a close relationship. The last direct meeting between the two leaders occurred during the 80th anniversary military parade in Beijing last September, where they were joined by North Korean leader Kim Jong Un, showcasing their close ties at Tiananmen Square. On May 17, the day before Putin's visit, the 10th China-Russia Expo opened in Harbin, Heilongjiang Province. In a congratulatory message, Xi expressed hope that the deepening and practical cooperation between China and Russia would yield fruitful results, and he encouraged both countries to leverage their geographical proximity and complementary strengths to expand comprehensive practical cooperation. He emphasized the expectation that this would provide new momentum for the long-term development of the comprehensive strategic partnership between China and Russia, enhancing economic and social development and improving the welfare of their peoples.* This article has been translated by AI. 2026-05-18 12:55:33

High Unemployment Rates Persist for U.S. Workers Under 35 with Master's Degrees The employment premium associated with master's degrees in the United States is diminishing. While the number of master's programs has rapidly increased, the quality job opportunities that these degrees were expected to provide have not kept pace. Companies are increasingly prioritizing practical skills over academic qualifications in their hiring processes. According to a report by the Wall Street Journal on May 17, labor market research firm Burning Glass Institute analyzed data from the U.S. Bureau of Labor Statistics (BLS) since 2003 and found that the unemployment rate for master's degree holders under 35 has reached one of its highest levels in the past two decades. In contrast, the unemployment rates for those with doctoral, law, or medical degrees in the same age group remain low. Gad Levanon, chief economist at Burning Glass Institute, attributed the weakening investment return of master's degrees to an oversupply of graduates compared to the available jobs. He noted that while employment trends for advanced degree holders used to move in tandem, a widening gap has emerged between master's and professional degrees. The supply of master's degrees has surged significantly. A report from the Center for Education and the Workforce indicates that the number of master's programs in the U.S. increased by 69% from 2005 to 2021, surpassing 33,500. In the past five years, there has been a rise in programs aimed at retraining for artificial intelligence (AI), including specialized one-year courses in online MBA, data science, and healthcare management. The disparity arises from how degrees function in the job market. Medical and law degrees often lead directly to licensure, while master's degrees serve more as a 'signal' of capability. As the number of master's degree holders increases, the rarity of this signal diminishes. Levanon stated, "A master's degree is no longer a guaranteed pathway to good jobs." In fact, the employment situation for master's degree holders under 35 has worsened compared to the average over the past 20 years. The Wall Street Journal reported that the unemployment rate for this group was only higher during specific periods, such as the COVID-19 pandemic and shortly after the 2008-2009 financial crisis. In the past year, the employment rate for those with associate degrees has been higher than that of master's degree holders. Corporate hiring attitudes are also shifting. A survey from Drexel University's LeBow College of Business found that over 40% of companies reported no plans to hire MBA graduates this year, a significant increase from 26.8% last year. Johnny Taylor Jr., president of the Society for Human Resource Management (SHRM), noted that the rise of AI has led companies to focus more directly on job performance capabilities rather than degrees. However, the utility of a master's degree has not completely vanished. Amir Zelcher, who is enrolled in the MBA program at Texas A&M University, is set to begin a full-time position at Texas Instruments this fall. He credited the school's career preparation program and support for interviews and salary negotiations as beneficial for his job search. The effectiveness of the degree now hinges more on the demand for the major, the school's career support, and actual job skills.* This article has been translated by AI. 2026-05-18 12:53:40