K-Culture Showcases Food, Beauty, and Content at K-EXPO USA 2026 in LA A K-Culture expo showcasing content, food, beauty, and tourism will take place in Los Angeles, the heart of the global entertainment industry. The Ministry of Culture, Sports and Tourism announced on May 22 that it will host the "K-EXPO USA 2026" from May 23 to 27 in collaboration with the Ministry of Agriculture, Food and Rural Affairs, the Ministry of Oceans and Fisheries, the Ministry of Health and Welfare, the Ministry of SMEs and Startups, and the Korea Creative Content Agency. The K-Expo aims to support the overseas expansion of companies in the K-Culture sector, including content, food, beauty, and tourism. It will feature a range of activities, from consumer-focused events to export consultations and presentations for businesses. This year's expo is particularly significant as it coincides with the global interest in the North America World Cup, which will be co-hosted by the United States, Canada, and Mexico from June 11 to July 19. Los Angeles, as a key location in the entertainment industry, adds to the event's importance. The expo will feature major K-Culture companies and AI content firms showcasing cutting-edge technology and trends. Netflix will present Korean creative content and images of Korean pop culture, along with a space introducing food products utilizing its intellectual property. The Korea Football Association will operate an exhibition focused on the South Korean national soccer team. Naver Webtoon will create a combined exhibition space featuring webtoon content centered on food and beauty. Innovative content will also be on display, including a food brand pavilion from Nongshim, a beauty experience area from Jeong Saem Mool, AI-generated video screenings, and a K-pop dance challenge using AI technology. Attendees can experience K-food through food trucks operated by popular franchises like BBQ, as well as cooking demonstrations by renowned chefs, including Song Hoon, a judge from MasterChef Korea, and actor Ryu Soo-young, who will showcase dishes like flounder kimbap and flounder tacos, which are popular in the U.S. On May 24, K-pop performances will be held featuring singer Jay Park, the multinational K-pop group P1Harmony, and the rookie group LNGSHOT. Additionally, export consultations involving 63 content and beauty companies will take place on May 26 and 27. Kim Young-soo, the Vice Minister of Culture, stated, "This expo is significant as it aligns with the global event of the North America World Cup in the center of the world's entertainment industry, the U.S. We will continue to provide multifaceted support for K-Culture companies to expand into the North American market."* This article has been translated by AI. 2026-05-23 14:43:29

NS Home Shopping Launches 'Harmonious 39 Day' Special with Fixed Prices NS Home Shopping is targeting consumers with a special fixed-price broadcast aimed at alleviating price concerns amid a downturn in consumer sentiment. The company announced on May 22 that it will hold a special broadcast titled 'Harmonious 39 Day' on May 26 and 28 through its NS Shop Plus channel. This promotional event will feature designated products all priced at 39,900 won, designed to reduce decision fatigue and offer practical products at reasonable prices. The lineup will focus on popular food items. The broadcast on Tuesday, May 26, will showcase products such as 'Juwonsan Smoked Duck & Duck Slices,' 'Jeju Fresh Fern,' 'Im Seong-geun Special Beef Bone Soup,' and 'Im Seong-geun Internal Organ Soup.' On Thursday, May 28, the broadcast will feature 'Juwonsan Duck Slices for Eating,' 'Domestic Processed Flatfish (50 pieces),' and 'Im Seong-geun Beef Soup,' all of which have received positive consumer feedback on NS Shop Plus. Jeon Jeong-jin, head of the TC Food Team at NS Home Shopping, stated, "We are presenting various pricing benefits and product configurations to allow consumers to access practical products more easily. Since this 'Harmonious 39 Day' features popular items that have received good responses from consumers, we hope for a lot of interest." Additionally, NS Home Shopping recently introduced an artificial intelligence (AI) host during its May 20 broadcast of 'Practical Mackerel.' The 10-minute segment featured the AI host presenting product introductions and purchase points.* This article has been translated by AI. 2026-05-23 14:42:00

Kwangjang Law Firm Hosts 'Transfer Pricing Practical Forum' with Korean International Tax Association The Korean International Tax Association, recognized as the leading academic organization in international taxation, announced on May 22 that it will hold a monthly international tax forum on May 28 at 2 p.m. at Kwangjang Law Firm in Jung-gu, Seoul, focusing on the topic of "Recent Issues in Transfer Pricing Practice." This forum, organized by Kwangjang, aims to address international tax and transfer pricing issues faced by multinational corporations both domestically and internationally. Experts from academia, law firms, and accounting firms will discuss critical issues and provide practical advice for multinational companies. The opening remarks will be delivered by Professor Park Hoon, the chairman of the Korean International Tax Association and a faculty member in the Department of Taxation at the University of Seoul. The closing remarks will be given by Kim Jeong-hong, a foreign attorney and the next chairman of the association. The forum will consist of an urgent diagnosis session and two main sessions. In the urgent diagnosis session, Kwangjang foreign attorney Kang Kyu-bin will present on "California Corporate Tax Reform and Korean Companies." The first main session will take the form of a panel discussion on "Practical Trends in MAP and APA Related to Transfer Pricing." Kwangjang foreign attorney Kim Min-ho will moderate, with panelists including Jeon Hye-jin, a partner at Samil Accounting Corporation; Park Joo-won, an executive at Anjin Accounting Corporation; Park Jae-seok, an accountant at Kim & Chang Law Office; and Kim Sang-hoon, an executive at Samjeong Accounting Corporation. The second main session will focus on case studies related to the increasingly applied "DEMPE Regulations," with Kwangjang attorney Jo Pil-je presenting. Panelists will include Ha Dong-hoon, an executive at Han Young Accounting Corporation; Kim Tae-hyung, a foreign accountant at Yulchon Law Firm; and Heo Si-won, an attorney at Hwawoo Law Firm. The forum will conclude with closing remarks from Kim Jeong-hong, the next chairman of the Korean International Tax Association.* This article has been translated by AI. 2026-05-23 14:39:21

Hancom Partners with LG AI Research to Supply AI Agents for Chat Exa One Hancom is set to supply its self-developed artificial intelligence (AI) agents to LG AI Research's generative AI platform, Chat Exa One, as it aims to penetrate the public AI market. On May 22, Hancom announced that it has signed a strategic business alliance agreement with LG AI Research, covering AI technology, service platforms, and both public and private market sectors. The two companies plan to explore new business opportunities based on long-term cooperation. The core of this partnership involves integrating Hancom's AI agent technology with LG AI Research's enterprise generative AI platform, Chat Exa One. This platform is developed on LG AI Research's proprietary large language model, Exa One 3.0. Through this collaboration, the companies will work on developing an integrated solution that combines Hancom's document AI technology with LG AI Research's AI service infrastructure. For instance, when a user requests a project proposal in the Chat Exa One chat window, Hancom's AI agent will analyze the document structure and automatically apply the format to generate a draft. Users will then be able to preview or save the results directly in a web-based Hangul viewer. This partnership marks a significant step for Hancom as it intensifies its entry into the public AI market. The two companies plan to jointly respond to the entire process from business development to bidding and delivery for public institutions, government agencies, and public enterprises. They also aim to expand collaboration in areas such as on-device AI, AI-based document automation, business-to-business (B2B) AI solutions, and global market entry. Hancom intends to strengthen the competitiveness of the domestic AI ecosystem and expand its AI business focused on enterprises and the public sector through this partnership with LG AI Research.* This article has been translated by AI. 2026-05-23 14:36:46

KOSPI Rises on U.S. Market Records and Easing War Concerns The South Korean stock market opened higher, buoyed by record highs in the U.S. markets and expectations of reduced geopolitical risks in the Middle East. As of 9:07 a.m. on May 22, the KOSPI index rose by 46.32 points (0.59%) to 7,861.91. The index started the day at 7,873.12, up 57.53 points (0.74%) from the previous trading session. In the securities market, individual and institutional investors purchased a net 877.4 billion won and 194.4 billion won, respectively, while foreign investors sold a net 1.049 trillion won. Han Ji-young, a researcher at Kiwoom Securities, stated, "Expectations for progress in negotiations between the U.S. and Iran are easing concerns over oil prices and interest rates, which had been sources of market instability. However, the recent surge in prices may lead to profit-taking, and volatility could continue due to changing news flows related to the U.S.-Iran situation." On May 21, the Dow Jones Industrial Average closed up 276.31 points (0.55%) at 50,285.66, surpassing its previous record of 50,115.67 set on February 6. The S&P 500 index rose by 12.75 points (0.17%) to close at 7,445.72, while the tech-heavy Nasdaq composite gained 22.74 points (0.09%) to finish at 26,293.10. Early trading in New York was marked by volatility due to news regarding Iran negotiations, but optimism about a diplomatic resolution between the U.S. and Iran helped the market rebound. President Donald Trump mentioned the negotiations with Iran were in their "final stages," and the U.S. Secretary of State indicated the possibility of progress, boosting investor sentiment. Among the top market-cap stocks, SK Hynix (0.26%), SK Square (1.27%), LG Energy Solution (2.12%), Samsung Electro-Mechanics (4.32%), Doosan Enerbility (5.35%), and HD Hyundai Heavy Industries (1.49%) saw gains, while Samsung Electronics (-0.17%) and Hyundai Motor (-1.35%) experienced declines. At the same time, the KOSDAQ index rose by 36.80 points (3.33%) to 1,142.77, starting the day at 1,119.43, up 13.46 points (1.22%). In the KOSDAQ market, individuals sold a net 108.6 billion won, while foreign and institutional investors bought a net 106.0 billion won and 16.8 billion won, respectively. Among the top KOSDAQ stocks, EcoPro BM (5.38%), Alteogen (3.27%), EcoPro (4.78%), Rainbow Robotics (0.54%), JUSUNG Engineering (9.88%), Kolon TissueGene (3.11%), and Samchundang Pharm (3.94%) were on the rise, while Iot Technics (-0.36%) faced a decline.* This article has been translated by AI. 2026-05-23 14:34:09

Kwangdong Pharmaceutical Secures Domestic Approval for Fabry Disease Treatment Kwangdong Pharmaceutical is accelerating its expansion into the rare disease treatment market following the domestic approval of its Fabry disease treatment. As the supply of high-cost rare drugs stabilizes, competition for the introduction of rare disease treatments in South Korea is expected to intensify.On May 22, Kwangdong Pharmaceutical announced that it received product approval from the Ministry of Food and Drug Safety for its Fabry disease treatment, Elprazole (active ingredient: pegunigalsidase alfa). This medication is used to treat Fabry disease, a rare genetic lysosomal storage disorder caused by a deficiency of the enzyme alpha-galactosidase A. Symptoms can include angiokeratomas, abdominal pain, proteinuria, peripheral pain, abnormal sweating, and hearing and vision impairments.This approval marks a significant step for Kwangdong Pharmaceutical in broadening its portfolio of rare disease treatments. Elprazole is the first Fabry disease treatment in South Korea to utilize plant cell-derived recombinant proteins and is intended for long-term enzyme replacement therapy in adult patients.Additionally, the recent recommendation for approval of a once-every-four-weeks dosing regimen by the European Medicines Agency (EMA) is seen as a strong advantage. This regimen reduces the burden on patients and healthcare providers compared to the previous biweekly administration.The rare disease treatment market, while serving a small patient population, attracts significant interest from global pharmaceutical companies due to the high need for treatment and pricing. Particularly for enzyme replacement therapies like that for Fabry disease, there is a consistent demand, making the introduction of such treatments in South Korea directly linked to patient accessibility.A Kwangdong Pharmaceutical representative stated, "Earlier in 2023, we signed an exclusive sales and distribution agreement for three rare drugs, including Elprazole, with Italy's Chiesi and have been progressing through the approval process. We will continue to enhance treatment accessibility by expanding the introduction of rare disease treatments."* This article has been translated by AI. 2026-05-23 14:31:24

Samsung Electronics Union Begins Voting on 2026 Wage Negotiation Agreement The Samsung Electronics union began voting on the '2026 Wage Negotiation Agreement' on May 22. As concerns about compensation disparities and equity among different business divisions arise, there is a growing sentiment among non-memory sectors within the semiconductor (DS) division and the finished products (DX) division to reject the tentative agreement.The union's joint action committee is conducting electronic voting for all members from 2 p.m. on May 22 until 10 a.m. on May 27. The agreement will be legally binding if more than half of the eligible voting members participate and approve it.The voting population includes over 90,000 union members, which is more than half of Samsung Electronics' total workforce of approximately 130,000. If the agreement fails to secure majority support, it will be rejected, and both parties will need to return to the negotiation table.Union leaders anticipate that the agreement will likely pass, as over 70% of union members belong to the semiconductor (DS) division. According to the tentative agreement, if Samsung Electronics achieves an operating profit of 300 trillion won this year, employees in the memory division could receive performance bonuses of up to 60 million won each.However, significant internal opposition exists. Particularly, members from the foundry and system LSI sectors within the DS division have expressed feelings of neglect and dissatisfaction, stating, "The disparities within the same sector are too extreme." They are expected to receive performance bonuses of around 160 million won based on a common resource distribution rate of 40%, but this is several hundred million won less than what employees in the memory division will receive.Ahead of the voting, an anonymous open chat room titled 'DS Division Tentative Agreement Must Be Rejected' was created, attracting over 1,000 participants within an hour, primarily from the non-memory sectors.There is a strong movement against the tentative agreement among employees in the DX (Device Experience) division, which includes mobile and home appliance sectors. As of May 20, the number of DX division union members was around 3,000, but by 2 p.m. on May 21, it surpassed 10,000, with approximately 9,000 employees joining the union in just one day. This surge is seen as a collective effort to express strong opposition to the agreement, which many feel neglects the DX division.Choi Seung-ho, chair of the joint action committee, stated the day before, "There may be aspects of this agreement that do not meet the expectations of our members," adding, "We will treat the voting results as a report card from the members to the super-large union."If the agreement fails to achieve majority support, it is expected to trigger significant repercussions. The previously suspended strike could reignite, leading to a new turmoil between Samsung Electronics and its union.* This article has been translated by AI. 2026-05-23 14:30:00

Korea to Supply 90,000 Rental Homes in Greater Seoul Amid Rising Prices Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol announced plans to supply 90,000 rental homes in the Greater Seoul area over the next two years in response to rising housing prices. Of these, 66,000 units will be concentrated in regulated areas. The government will also significantly strengthen crackdowns on market disruptions, including real estate tax evasion and price manipulation. During a meeting on real estate policy held at the Government Seoul Building on May 22, Koo noted that "the increase in apartment sale prices in Seoul has expanded for two consecutive weeks," and assured that the government will closely monitor price fluctuations and inventory flow to actively stabilize the market. The government plans to focus on increasing the supply of non-apartment housing, such as officetels, as these can be delivered more quickly than apartments, potentially yielding visible results within one to two years. This initiative is also expected to help alleviate housing difficulties for young people. To lead this effort, the public sector will expand the supply of non-apartment rental housing. By 2027, a total of 90,000 units will be supplied in the Greater Seoul area, with 66,000 units allocated to regulated areas. Measures to accelerate the supply will also be implemented. The government plans to shorten construction periods through modular construction methods and reduce the financial burden on contractors to encourage early project commencement. It will closely manage projects that have received permits but have not yet started construction. Koo stated, "We will ensure that financially viable projects do not face funding difficulties." The crackdown on market disruptions will be intensified. The National Tax Service has recently launched tax investigations into 127 individuals suspected of real estate tax evasion and is verifying the private use of over 2,630 high-value homes owned by corporations, valued at over 900 million won. The National Police Agency is also conducting special crackdowns on real estate crimes, including price manipulation and reconstruction corruption. As of May 19, over 2,200 individuals have been apprehended, with 861 cases forwarded for prosecution. Koo emphasized, "We will not tolerate any actions that disrupt market order," and reaffirmed that the government is committed to ensuring housing stability for the public through swift and effective measures.* This article has been translated by AI. 2026-05-23 14:27:21

Stray Kids to headline new music festival 'STRAYCITY' in Latin America SEOUL, May 23 (AJP) - K-pop boy band Stray Kids will headline "STRAYCITY," a new music festival set to debut in Latin America this September, Live Nation and JYP Entertainment said Saturday. The festival will be held in three cities: Bogota, Colombia, on Sept. 9; Buenos Aires, Argentina, on Sept. 14; and Mexico City on Sept. 25. Stray Kids will headline all three editions. The lineup also includes JYP Entertainment’s seven-member rookie boy group NEXZ and local artists Andrés Obregón, RENEE, BAD MILK, Kei Linch, K4OS and Cocho, with supporting acts to vary by city. The festival name draws from "Stray," part of the group’s name, and is planned as a recurring international event anchored by Stray Kids’ global fanbase. Stray Kids officially debuted in March 2018 following a 2017 JYP Entertainment reality program. The eight-member group is known for producing much of its own music through 3RACHA, an in-house production unit consisting of Bang Chan, Changbin and Han. The festival follows Stray Kids’ recent world tour "dominATE," which spanned 56 shows across 35 regions. As part of the tour, the group held eight stadium concerts across five Latin American cities in 2025, with stops in Santiago, Rio de Janeiro, São Paulo, Lima and Mexico City. Stray Kids has also expanded its presence on the global festival circuit, with headline performances at Lollapalooza Paris, I-Days in Italy, British Summer Time Hyde Park in London and Lollapalooza Chicago. The group is set to headline The Governors Ball Music Festival in New York on June 6, followed by Rock in Rio in Brazil on Sept. 11. 2026-05-23 14:25:39

Fire at Jinju Junkyard Extinguished After Nine Hours, No Injuries Reported A significant fire broke out at a junkyard in Jinju, South Gyeongsang Province, on the night of May 21, damaging the facility and several vehicles. According to Yonhap News Agency, the blaze started around 10:15 PM at a junkyard located in Danmok-ri, Daegok-myeon. The fire consumed a building measuring approximately 600 pyeong (about 1,983 square meters) and destroyed around 20 junked vehicles, resulting in an estimated property loss of about 229.4 million won. Fortunately, no injuries were reported as there were no people inside the junkyard at the time of the fire. Fire authorities responded to reports from nearby residents and arrived on the scene promptly to combat the flames. As the fire proved difficult to control, they declared a 'Level 1 Response' at 10:54 PM, mobilizing all personnel from the local fire station. A total of 41 fire trucks and 105 personnel were deployed to the scene. After an overnight effort, the fire was fully extinguished at 7:43 AM on May 22, nearly nine and a half hours after it began. The Level 1 Response was lifted at 3:04 AM on May 22. However, due to the nature of the junkyard, where multiple vehicles were stacked, residual heat remained in the burned vehicles and debris, prolonging the complete extinguishment of the fire. Police and fire officials plan to conduct an investigation to determine the exact cause of the fire and the point of origin.* This article has been translated by AI. 2026-05-23 14:25:18