Blue House Denies Reports on Reviewing Excess Tax Revenue from Semiconductor Boom On May 14, the Blue House refuted media reports claiming that it had begun reviewing plans to utilize excess tax revenue generated by the semiconductor boom, stating, "This is not true."One outlet reported that Kim Yong-beom, the head of the Blue House Policy Office, had instructed senior officials, including Economic Growth Chief Ha Jun-kyung and Financial Planning Advisor Ryu Deok-hyun, to examine options for using the excess tax revenue.In a press release, the Blue House clarified, "The government continuously discusses economic conditions, tax revenue circumstances, and directions for fiscal investment."A senior official from the Blue House dismissed the reports, stating, "We are not at a stage where we are specifically discussing or reviewing plans for utilizing excess tax revenue from the semiconductor sector, and there are currently no plans for such a review."Previously, on May 11, Kim Yong-beom had mentioned on his Facebook page that if an unprecedented surplus in tax revenue were to arise from the AI infrastructure boom, a portion of that benefit should be returned to the public, referring to it as a 'citizen dividend.'* This article has been translated by AI. 2026-05-14 11:49:44

Trump's Visit to China Marks First Since Nixon, Accompanied by Defense Secretary President Donald Trump's state visit to China has drawn attention due to the unusual presence of Secretary of Defense Pete Hegseth. On May 14, the South China Morning Post reported that this marks the first time a U.S. president has visited China with the defense secretary since former President Richard Nixon's historic trip in 1972, 54 years ago. It has also been nearly eight years since a U.S. defense secretary visited China, with the last instance being former Secretary of Defense James Mattis's trip in June 2018 during Trump's first term. The SCMP noted, "The unusual inclusion of the defense secretary indicates a willingness from both the U.S. and China to enhance military communication for de-escalation and crisis management." The summit is expected to address issues such as nuclear weapons, U.S. arms sales to Taiwan, and the restoration and expansion of military-to-military communication channels. With Hegseth's attendance, it is anticipated that at least Chinese Defense Minister Wei Fenghe will also participate in the summit. During Trump's first visit to China in 2017, the only high-ranking military official present was Li Zuocheng, then the chief of the Joint Staff Department of the Central Military Commission. As U.S.-China competition extends beyond economic realms into technology and national security, analysts suggest that the relationship has entered a phase of "technological security competition." The lines between commercial and military applications in areas such as semiconductors, artificial intelligence (AI), quantum computing, and satellite technology are increasingly blurred, highlighting the need for closer military communication. Jupeng, a professor of international relations at Nanjing University, emphasized in the Singapore-based Lianhe Zaobao, "U.S.-China relations are not limited to trade and economics. It is crucial for both militaries to resume institutionalized high-level communication to stabilize relations and prevent conflicts." He added, "As AI applications expand in military equipment and operations, and with international security norms and governance rules still not adequately established, regular consultations and exchanges between the two militaries could present significant opportunities for both sides." There are also interpretations suggesting that Trump is mindful of domestic political messaging. The Nordic-based Chinese media outlet, Boku Shibo, analyzed that Trump aims to project a tough image to U.S. voters, asserting that he will not back down on security issues. In addition to Hegseth, Trump's delegation includes key figures from diplomacy, security, and economic sectors, such as Secretary of State Marco Rubio, Treasury Secretary Scott Vessen, and USTR Representative Jamieson Greer. Lianhe Zaobao reported that this meeting is designed as a high-level strategic communication session that clearly demands practical cooperation. Wang Dong, a professor at Peking University's School of International Relations, noted, "The U.S. perceives this visit as a comprehensive high-level strategic communication encompassing politics, security, and economics, with economic and trade cooperation, market, and industrial issues expected to be core agenda items, aiming for tangible cooperation outcomes."* This article has been translated by AI. 2026-05-14 11:48:37

Socar Shares Surge for Second Day Amid Krafton's Autonomous Driving Investment Socar's stock has continued to rise for a second consecutive day. After hitting the upper limit the previous trading day, the shares showed a double-digit increase on the 14th, attracting significant market attention. According to the Korea Exchange, as of 10:25 a.m. on this day, Socar's shares were trading at 19,600 won, up 14.35% from the previous day. The stock had closed at 17,140 won, marking a 29.95% increase the day before. The surge in stock price is attributed to news of a strategic investment from Krafton. Krafton announced it would invest 65 billion won in Socar's autonomous driving business. Socar is reportedly planning to establish a new autonomous driving subsidiary, 'Apex Mobility,' with an investment of 150 billion won. Market analysts are noting that this investment could enable Socar to expand beyond a simple vehicle-sharing platform into a mobility company focused on autonomous driving and physical AI. Krafton is also seen as broadening its business scope from game development to include AI and mobility data. Socar has reported a profit for seven consecutive quarters. In its first-quarter report released on this day, the company disclosed a consolidated operating profit of 1.38834 billion won, a 1.8% decrease compared to the same period last year. * This article has been translated by AI. 2026-05-14 11:46:16

Bank of Korea Struggles to Retain Young Employees Despite Salary Increases Despite the Bank of Korea's efforts to improve employee conditions, including salary increases, the trend of voluntary resignations among junior employees remains persistent. While the overall number of retirements has decreased, demand for job changes continues among younger staff. According to data submitted to lawmaker Ogi-hyung of the Democratic Party of Korea, the number of employees with 1-5 years of service who resigned last year totaled 11, marking a 57.1% increase from 2024, which saw 7 resignations. Resignations among employees in their first five years surged from 10 in 2021 to 19 in 2022, then dropped to 15 in 2023 and 7 in 2024. However, the number rose back into double digits last year, and five employees left the bank in just the first four months of this year. If this trend continues, the number of junior resignations this year is likely to exceed last year's figures. In contrast, the total number of resignations at the Bank of Korea fell from 160 in 2022 to 89 last year, nearly halving over three years. This decline is believed to be partially influenced by recent efforts to improve employee conditions. The average salary for non-executive employees rose from 103.3 million won in 2022 to 110.3 million won this year. The starting salary for new hires also increased from 51.8 million won to 58.4 million won during the same period, a rise of approximately 12.7%. Nevertheless, the trend of junior employees leaving the bank has not significantly eased. Many junior resignations are attributed to job changes. Over the past five years, the proportion of resignations among employees with 1-5 years of service due to job changes has been recorded as follows: 80.0% in 2021, 57.9% in 2022, 33.3% in 2023, 57.1% in 2024, 45.5% in 2025, and 40.0% in the first four months of 2026. The reasons behind this trend include differences in personnel structures and treatment across job categories. Employees in comprehensive planning roles (G5) are hired based on various fields such as economics, management, law, statistics, and computer science, but most rotate through different departments after joining. This has led to concerns among some employees about the difficulty of accumulating expertise in specific areas over time. Many are considering career paths in the private financial sector or academia, where they can better utilize their expertise. For general administrative staff (C3), limited opportunities for promotion and conversion to comprehensive roles have contributed to lower job satisfaction. Recently, some C3 employees have reportedly transitioned to national policy banks after passing examinations. The salary gap with the private financial sector remains a significant concern. According to the Financial Supervisory Service's electronic disclosure system, the average annual salary for employees at the four major commercial banks (KB Kookmin, Shinhan, Hana, and Woori) was 122.75 million won last year, exceeding the average salary at the Bank of Korea by about 10 million won. Starting salaries, including various allowances, also reach levels between 60 million and 65 million won. A Bank of Korea official stated, "Some employees feel that they do not accumulate enough expertise after going through several rotations. There are cases where highly qualified individuals with doctoral degrees change careers to the private financial sector or academia due to a strong desire for expertise, which is regrettable from the organization's perspective." The official added, "Given that the work at the Bank of Korea tends to be more academic in nature, it is not uncommon for employees to transition to similar paths in research or academia after joining. As younger generations increasingly demand expertise, it is time to reconsider the rotational job structure."* This article has been translated by AI. 2026-05-14 11:45:07

Royal Blue-and-White Porcelain on Display at Jincheon Museum National treasures will tour various regions in South Korea, providing everyone with the opportunity to appreciate these cultural artifacts close to home. According to the National Museum of Korea on May 14, the "National Treasure Tour: Treasures in Our Neighborhood" will take place from May 19 to August 9 at the Jincheon Museum in Chungbuk, the Yeongam Celadon Museum in Jeonnam, and the Uiryeong Uibyeong Museum in Gyeongnam. The exhibition will kick off on May 19 at the Jincheon Museum with "Dignity and Authority in Blue: Royal Blue-and-White Porcelain." This will be followed by "Baekje Masterpieces: Baekje Patterns" at the Yeongam Celadon Museum on May 21, and "Flowers in Ceramics: Inlaid Celadon" at the Uiryeong Uibyeong Museum on June 10. This exhibition allows visitors to encounter representative cultural heritage that they may have only seen in textbooks. Without needing to travel to Seoul or the metropolitan area, attendees can view significant cultural artifacts such as a white porcelain vase with peony designs (treasure), a dragon-patterned brick (treasure), and an inlaid celadon vase with peony designs (national treasure) at nearby museums. Additionally, promotional content for the National Treasure Tour has gained attention on social media. A video featuring a miniature concept shows the treasures being prepared for their journey, utilizing 3D data of major cultural heritage items held by the National Museum of Korea. The promotional video also depicts treasures arriving by boat or train and landing on the museum grounds or rooftops. Now in its third year, the "National Treasure Tour" has attracted over 460,000 visitors across 20 regions in the past two years, demonstrating significant public interest. Family groups have been frequenting local museums, invigorating not only the museums but also the surrounding communities. This initiative not only reduces cultural disparities between regions but also emphasizes the importance of making national treasures accessible to everyone. The exhibition at Jincheon Museum, "Dignity and Authority in Blue: Royal Blue-and-White Porcelain," will showcase five pieces, including a blue-and-white porcelain vase with peony designs (treasure) that exemplify the elegance and aesthetic of the Joseon royal family. The Yeongam Celadon Museum's "Baekje Masterpieces: Baekje Patterns" will feature eight pieces, including a dragon-patterned brick (treasure), highlighting the artistic form and aesthetics of Baekje patterns. The Uiryeong Uibyeong Museum's "Flowers in Ceramics: Inlaid Celadon" will present six pieces, including an inlaid celadon vase with peony designs (national treasure), showcasing the refined aesthetics and craftsmanship of Goryeo celadon. Notably, three inlaid celadon pieces donated by the late Lee Kun-hee will also be on display. Uiryeong is the hometown of Lee Byung-chul, the founder of Samsung Group, making the exhibition of these donated cultural artifacts particularly significant for the local community. Yoo Hong-jun, director of the National Museum of Korea, stated, "The 'National Treasure Tour' is a project aimed at sharing our cultural heritage with local communities and fostering growth between museums and their regions. We will continue to strive to ensure that more people can encounter our cultural heritage at nearby museums." * This article has been translated by AI. 2026-05-14 11:42:43

Laufenn's S Fit 2 Tires to Equip Volkswagen Golf 8 Hankook Tire's global brand Laufenn will supply tires for Volkswagen's new vehicles.On May 14, Hankook Tire announced that it will provide the Laufenn S Fit 2, a second-generation summer performance tire, as original equipment for the updated Volkswagen hatchback model, the Golf 8.The Golf 8 is the latest facelift of Volkswagen's best-selling model, which has recorded global cumulative sales of over 37 million units and represents the hatchback market.Hankook Tire developed the tire in close technical collaboration with Volkswagen, optimizing it for the vehicle's characteristics and performance requirements. The S Fit 2 will be available in two sizes, 16 and 18 inches, offering stable driving performance and precise handling.The tire also features excellent grip and drainage performance, ensuring reliable handling and braking. Compared to previous models, it has balanced improvements in fuel efficiency and mileage performance, enhancing overall driving performance.Utilizing a high-silica compound and optimized tread block design, the S Fit 2 improves braking performance on wet roads, reducing braking distance by approximately 16% compared to earlier products.Meanwhile, Hankook Tire has recently expanded its supply of original equipment tires to global automotive brands such as Mercedes-Benz, BMW, and Ford. As of the first quarter of this year, it supplies original equipment tires to over 50 global brands and more than 300 vehicle models.* This article has been translated by AI. 2026-05-14 11:39:53

Polled Shares Surge 300% on First Day of KOSDAQ Listing Shares of Polled, a company specializing in baby products and hygiene items, experienced a remarkable 300% increase on their first day of trading on the KOSDAQ. According to the Korea Exchange, as of 10:04 a.m. on May 14, Polled's stock was trading at 20,000 won, up 15,000 won from the initial public offering price of 5,000 won. Polled originated as an internal venture of Hyundai Motor Company and was established as a separate entity in 2019. The company has rapidly grown, focusing on premium baby electronics and living products, including its AIRLUV ventilation and heating sheets, as well as brands like Pixel, Franklin, Yufang, and Baby Brezza. Notably, AIRLUV has gained significant recognition both domestically and internationally, surpassing cumulative sales of 1 million units and establishing itself as a leading export brand in the K-baby product sector. Additionally, Polled's key product lines, including Pixel, Yufang, and Baby Brezza, have seen a steady increase in overseas sales due to growing global demand. Polled recorded a high subscription rate of 3,169.86 to 1 during the public offering for individual investors held from May 4 to 6, attracting approximately 5.2 trillion won in subscription deposits. Institutional investors also showed strong interest, with 2,372 institutions participating and a competition ratio of about 1,486.66 to 1. The offering price was set at 5,000 won, raising a total of 13 billion won, with NH Investment & Securities acting as the listing underwriter. For the previous year, Polled reported consolidated revenues of 79.933 billion won and an operating profit of 10.425 billion won. The company plans to utilize the funds raised from the IPO for research and development (R&D) operations and strategic investments to strengthen its long-term growth foundation, including the establishment of logistics centers.* This article has been translated by AI. 2026-05-14 11:38:15

Jung Won-oh Registers as Candidate for Seoul Mayor, Promises Administrative Efficiency Jung Won-oh, the Democratic Party candidate for the Seoul mayoral election, completed his candidate registration on May 14. He announced that he registered through a representative at the Seoul Election Commission in Jongno District that morning. After the registration, Jung posted on Facebook, stating, "While I wrote 'Jung Won-oh' on the documents, I believe I wrote it on behalf of the 9.3 million citizens of Seoul." He emphasized the need for a change in the mayor of Seoul to align with the Lee Jae-myung administration. Jung said, "To ensure that the capable Lee Jae-myung administration can work effectively with local governments, we must replace the local government's capabilities." Drawing from his achievements as the head of Seongdong District, he expressed his commitment to transforming Seoul. Jung stated, "I will carry forward the achievements of Seongdong, which created a sense of administrative efficiency for citizens, into changes for Seoul. I will judge the incompetence of Oh Se-hoon’s decade-long administration, which ended up being a mere flash in the pan, and alleviate the citizens' fatigue."* This article has been translated by AI. 2026-05-14 11:37:06

Samyang Foods Shares Surge Following Record Q1 Earnings Samyang Foods is experiencing strong gains in early trading after reporting record first-quarter earnings that exceeded market expectations. According to the Korea Exchange, as of 9:47 a.m. on May 14, Samyang Foods shares rose by 104,000 won (8.03%) to 1,399,000 won. At one point shortly after the market opened, the stock surged by as much as 13.75% to reach 1,473,000 won. The surge is attributed to the company’s impressive first-quarter performance, which was announced after the market closed the previous day. Samyang Foods reported consolidated sales of 714.4 billion won and an operating profit of 177.1 billion won for the first quarter of this year. These figures represent increases of 35% and 32%, respectively, compared to the same period last year, marking the highest quarterly results in the company’s history. Analysts are also taking note of the strong performance and growth in international markets, leading to upward revisions of target prices. Hyundai Motor Securities maintained a “buy” rating for Samyang Foods, stating, "With global demand remaining robust, we expect growth from the recovery of U.S. inventories in the second quarter, the expansion of marketing efforts, visible recovery in exports to China, and accelerating growth in Europe." They raised their target price from 1.8 million won to 1.9 million won. Daol Investment & Securities echoed this sentiment, noting, "We have confirmed strong demand, and expectations for increased export volumes have grown," and adjusted their target price upward from 1.7 million won to 1.9 million won.* This article has been translated by AI. 2026-05-14 11:34:54

Ruling Party Criticizes Opposition's Allegations Against Seoul Mayor Candidate The Democratic Party has criticized the People Power Party for raising allegations of assault against Jeong Won-o, the party's candidate for Seoul mayor, calling the claims excessive smear tactics. Kang Jun-hyun, the party's chief spokesperson, spoke to reporters at the National Assembly on May 14, stating, "The People Power Party is making absurd claims regarding an incident from 1995." Kang further noted, "Articles from that time indicate that the dispute arose from differing views on the May 18 Democratic Uprising," emphasizing that there is solid evidence supporting this. He accused the People Power Party of spreading false information and causing confusion among the public through reckless smear campaigns. Regarding the assault allegations made by Kim Jae-seop, a member of the People Power Party, Kang stated that the Democratic Party has filed a complaint and urged, "We must accurately determine whether these claims are true or false before making statements." He added that the party intends to respond strongly to any false information or fake news at the central party level. Meanwhile, Kim held a press conference the previous day, claiming that Jeong's past assault and obstruction of official duties stemmed from an incident where he was denied a night out with a female employee, labeling Jeong as an 'assault suspect.' In response, Jeong's camp released court documents and media reports from that time, arguing that Kim's claims are merely one-sided assertions. However, the controversy continues as Jeong did not directly address the allegations during a press conference held on the same day at the National Assembly.* This article has been translated by AI. 2026-05-14 11:34:02