N. Korea, Viet Nam agree to deepen exchanges, strategic communication at foreign ministers' talks SEOUL, May 14 (AJP) - North Korea and Vietnam have agreed to deepen bilateral exchanges and cooperation across various fields during talks between their foreign ministers in Pyongyang, the North's state media reported Thursday. According to the Korean Central News Agency (KCNA), the country's Foreign Minister Choe Son-hui held talks Wednesday at the Mansudae Assembly Hall with Vietnamese Foreign Minister Lê Hoài Trung, who visited Pyongyang as a special envoy of Tô Lâm, general secretary of the Communist Party of Vietnam and the country's president. During the meeting, Choe recalled the summit held in Pyongyang in October last year and reaffirmed Pyongyang's commitment to "developing the traditional -Vietnam friendship and cooperative relations in line with the aspirations and wishes of the peoples of the two countries," KCNA said. Trung responded that Vietnam has consistently attached importance to strengthening friendly and cooperative ties with North Korea and has paid "deep attention" to advancing bilateral relations. The two sides agreed to further expand exchanges and cooperation in multiple sectors and strengthen strategic communication and mutual support between their foreign policy institutions, the report said. They also exchanged views on regional and international issues. Kim Song-nam, director of the international department of the ruling Workers' Party of Korea, also met with Trung the same day to discuss ways to strengthen party-to-party ties. Kim said the Workers' Party would further enhance exchanges and cooperation with the Communist Party of Vietnam, while Trung reaffirmed Hanoi's "steadfast position" to elevate the firmly established Vietnam-North Korea friendship. The two sides discussed strengthening political ties between the two ruling parties and reached a consensus on issues of mutual concern, KCNA said. North Korea's foreign ministry hosted a reception banquet for the Vietnamese delegation later in the evening. The visit by the Vietnamese envoy comes as bilateral relations have gained momentum since Lâm visited Pyongyang in October last year and held talks with North Korean leader Kim Jong-un, marking the first visit to the North by a Vietnamese top leader in 18 years. The trip also comes after South Korean President Lee Jae Myung paid a state visit to Vietnam from April 21-24, raising attention over the possibility that Viet Nam could play a mediating role between the two Koreas. Lâm visited South Korea in August last year as the first state guest of the Lee administration, while Lee became the first foreign leader to make a state visit to Viet Nam following his inauguration in June last year. 2026-05-14 11:32:51

Han Byeong-do Appeals for Support for Democratic Party Candidates in Local Elections Han Byeong-do, the floor leader of the Democratic Party, called on May 14 for support of the party's candidates in the upcoming June 3 local elections, stating that they are the best choice to revitalize local areas and normalize South Korea alongside the Lee Jae-myung administration. He also criticized Jang Dong-hyuk, the leader of the People Power Party, for his continuous negative remarks about government policies. During a policy coordination meeting held at the National Assembly, Han emphasized the need to create effective local governments through the elections, asserting, "All Democratic candidates are capable of performing well. Strong local governments are essential for the well-being of communities and citizens." He further remarked, "Local power backed by Yoon Suk-yeol has been synonymous with incompetence and irresponsibility for the past four years," reiterating that the Democratic Party's capable candidates are the optimal choice for revitalizing local areas and normalizing South Korea. Han also directed his criticism at Jang, who has recently expressed negative views on government policies, including support funds for high oil prices, via Facebook. He stated, "It is hard to believe he is the leader of a political party." "It seems that Jang is feeling rushed these days. He has been making reckless remarks that are hard to believe for someone in his position," Han said, pointing out Jang's claim that the support funds for high oil prices are merely for electoral purposes. "Can he not see the citizens struggling with high prices and the prolonged conflict in the Middle East that has led to soaring oil prices?" Han criticized Jang for belittling Democratic candidates as 'pick of the Gaetdal' and accused him of engaging in irresponsible obstructionism, slander, and smear campaigns against Lee Jae-myung. He concluded, "The Democratic Party will earn the people's choice solely based on our capabilities and vision. I hope the People Power Party can regain its composure."* This article has been translated by AI. 2026-05-14 11:29:44

Democratic Party Urges Ulsan Mayoral Candidate Unification by May 15 The Democratic Party announced on May 14 that it is preferable to finalize the unification of candidates for the Ulsan mayoral election by the registration deadline of May 15. Kang Jun-hyun, the party's chief spokesperson, told reporters at the National Assembly that having the names of withdrawn candidates on the ballot could confuse voters. He added that discussions about unification are ongoing, with regular communication occurring at the provincial party level, including meetings with the Progressive Party. He expressed optimism that a conclusion could be reached today or tomorrow. Currently, the Ulsan mayoral race includes Kim Sang-wook from the Democratic Party, Kim Jong-hoon from the Progressive Party, and Hwang Myung-pil from the Justice Party, who are all working towards a consensus on unification. Negotiations at the party level are also progressing positively. However, Kang was cautious regarding unification efforts for the Pyeongtaek by-election, emphasizing that the willingness of the candidates is the most crucial factor. In the Pyeongtaek by-election, tensions have been rising between Kim Yong-nam from the Democratic Party and Jo Guk, the leader of the Justice Party. With a multi-candidate scenario emerging, including the announcement of candidacy by Kim Jae-yeon, the chair of the Progressive Party, there are concerns that failure to unify could disadvantage progressive candidates. Additionally, when asked about the recent rise of the People Power Party candidates in the Yeongnam region, Kang noted that the distortion of public opinion polls in the area may have contributed, mentioning that some polls have given a 20% weight to landline surveys.* This article has been translated by AI. 2026-05-14 11:28:38

Jang Dong-hyuk Criticizes National Dividend Proposal as Gangster Mentality Jang Dong-hyuk, leader of the People Power Party, criticized the national dividend proposal mentioned by Kim Yong-beom, head of the Presidential Policy Office, stating, "The idea of taking money as if it were theirs while constantly obstructing is a typical gangster mentality." During a Supreme Council meeting at the National Assembly, Jang remarked, "Kim's national dividend is the true intention of Lee Jae-myung," adding, "Whether it’s excess profits or excess tax revenue, it’s not money earned by Lee Jae-myung." He continued, "The reality of a strike at Samsung Electronics, which could lead to losses in the tens of trillions of won, is approaching. Yet, Lee Jae-myung is only interested in collecting money," asserting that "Lee and the Democratic Party have no right to take advantage of this situation. While Samsung and SK Hynix are thriving now, just three to four years ago, they recorded massive losses due to a global semiconductor downturn." Jang further stated, "When our party pushed for the K-Chips Law to save the semiconductor industry, the Democratic Party vehemently opposed it, claiming it was a favor to conglomerates. If our party hadn't worked tirelessly to pass the K-Chips Law, we wouldn't be able to ride the current semiconductor supercycle." He also pointed out, "It’s not just semiconductors. The Democratic Party has always opposed future investments like nuclear power. If the Moon Jae-in administration's nuclear phase-out had succeeded, would we be experiencing the current semiconductor boom? They are still opposing the 52-hour workweek exception for semiconductor R&D." Jang criticized, "The money Lee Jae-myung is distributing to gain support and buy votes will ultimately become debt that future generations will have to repay," noting that "Lee's rapid increase in debt has pushed national liabilities over 1,300 trillion won. It’s not an exaggeration to call it a debt supercycle." He concluded, "If excess tax revenue arises, we must pay off debt first. We should not deceive the public with the absurd argument that fiscal austerity is populism. Instead of wasting time on the national dividend, I hope they focus on preventing the Samsung Electronics strike."* This article has been translated by AI. 2026-05-14 11:26:48

'Michael' Tops Box Office on Opening Day with 100,000 Viewers On its opening day, the film 'Michael' secured the top spot at the box office.According to the Korean Film Council's integrated ticketing system, 'Michael,' which premiered the previous day, attracted 99,903 viewers, making it the number one film. The cumulative audience count stands at 118,493.'Michael' depicts the journey of Michael Jackson, who astonished the world with his innate musical talent and rose to become the King of Pop. The film, featuring legendary music and performances, drew audiences from its first day of release.In second place at the box office is 'The Devil Wears Prada 2,' which was viewed by 29,970 people during the same period, bringing its total audience to 1,299,742.The Korean film 'Salmon' maintained its position in third place with 16,444 viewers, accumulating a total of 3,067,181. Even in its sixth week of release, it continues to perform well at the box office.To celebrate surpassing 3 million viewers, 'Salmon' is hosting a special promotion in collaboration with Lotte Cinema, offering tickets for 300 won. Audiences can download promotional coupons from the Lotte Cinema website and app to purchase tickets for the Culture Day screening on the 13th at this discounted rate. Coupons are available on a first-come, first-served basis.'Salmon' is a horror film that unfolds after a filming crew encounters something dark and deep in a reservoir while attempting to reshoot after capturing an unidentified figure on a road view.* This article has been translated by AI. 2026-05-14 11:24:23

Daehan Electric Wire Acquires 10,000-Ton Cable Laying Vessel to Enhance Undersea Cable Operations Daehan Electric Wire has strengthened its competitiveness in the undersea cable sector by acquiring a 10,000-ton dedicated cable laying vessel (CLV). As investments in offshore wind and international power grids expand, securing vessels has become crucial for winning contracts. The company aims to accelerate its entry into the global undersea cable market with a fleet of large CLVs. On May 14, Daehan Electric Wire announced that it has signed a purchase agreement for the Skandi Connector, a 10,000-ton CLV, with its current owner, DOF. The vessel is expected to be delivered to South Korea in August. The Skandi Connector can carry up to 7,000 tons of undersea cable at once, making it a significant addition to Daehan Electric Wire's fleet, which already includes the Palos, the only offshore wind CLV in South Korea. This marks the second offshore wind CLV introduced in the country. Equipped with a Dynamic Positioning System (DP2), the vessel can maintain precise positioning even in changing weather conditions. It also features specialized installation equipment, including a large carousel and tensioner, enabling it to undertake both long-distance and short-distance HVDC undersea cable installations. In the global undersea cable market, securing cable laying vessels has emerged as a critical bottleneck, as their availability can determine the success of contracts. Large vessels have long construction times and limited operational availability, making timely acquisition essential for meeting project schedules. Daehan Electric Wire's decision to acquire an existing high-spec CLV instead of building a new one is seen as a proactive measure to address this construction bottleneck. With this vessel acquisition, Daehan Electric Wire has further advanced its vertical integration system, allowing it to manage the entire process from design and production to transport and installation. The company plans to enhance its turnkey competitiveness and project responsiveness in collaboration with its specialized subsidiary, Daehan Oceanworks. Daehan Electric Wire stated, "With the additional CLV, we now have a construction system capable of simultaneously executing offshore wind projects and long-distance grid connections. We will reliably carry out various undersea cable projects both domestically and internationally, continuously strengthening our competitiveness in the global market."* This article has been translated by AI. 2026-05-14 11:22:47

Ministry of Culture to Boost Local Tourism through Traditional Market Innovations and Train Trails Amid promising signs of a significant leap in local tourism in the first quarter of this year, the Ministry of Culture, Sports and Tourism is accelerating this growth through innovations in traditional market services and the revitalization of rail tourism in the southern regions. According to data released by the ministry on April 14, 2026, indicators for regional visits and spending by South Koreans are on the rise. Domestic travel to local areas increased by 6.9% year-on-year to 39.31 million trips in January and February, with spending rising by 3.0% to 5.401 trillion won. Notably, the number of visitors from the Seoul metropolitan area grew by 6.81%, indicating a clear nationwide expansion in tourism demand. Foreign tourist arrivals at regional airports also showed significant growth, with 853,905 visitors recorded, a 49.7% increase compared to the previous year. Additionally, the number of foreign travelers using rail services rose by 46.4% to approximately 1.69 million. The regional visit rate for foreigners reached 34.5%, up 3.2% from the previous year, while the average length of stay increased by 36.2% to 5.28 million days, with spending growing by 17.2% to $880 million. In line with this upward trend in local tourism, the ministry announced that it has selected 11 traditional markets, including Mangwon Market in Seoul, as part of the second phase of the 'K-Tourism Market' initiative to develop them into key local tourist attractions. The selected markets include Mangwon Market and Gyeongdong Market in Seoul, Haeundae Market in Busan, Seomun Market in Daegu, Sinpo International Market in Incheon, Nammun Market in Suwon, Sokcho Tourism Fish Market in Gangwon, Danyang Gu-gyeong Market in Chungbuk, Jeonju Nambu Market in Jeonbuk, Andong Gu Market in Gyeongbuk, and Dongmun Traditional Market in Jeju. On the same day, the ministry and the Korea Tourism Organization held the launch ceremony for the 'K-Tourism Market Smile Campaign' at Mangwon Market in Seoul. The heads of the merchants' associations from the 11 markets signed a joint declaration promising to eliminate overcharging and unfriendly service practices by committing to four service innovations: fixed pricing, card payments, cleanliness and hygiene, and friendliness. Kang Dong-jin, the ministry's tourism policy director, stated, "This 'Smile Campaign' will not just be a slogan but a turning point to improve the image of traditional markets through the voluntary participation and actions of merchants. The ministry will actively support traditional markets to become essential tourist destinations where visitors can vividly experience 'K-Culture' and 'K-Food,' contributing to domestic revitalization." Additionally, on the same day, the ministry signed a memorandum of understanding (MOU) in Jinju with five local governments from the southern regions, including Busan, Gwangju, Ulsan, South Jeolla, and South Gyeongsang, along with Korea Railroad Corporation (Korail), to enhance the 'Southern Train Trail.' The ministry will provide expert consultation and coordinate interests, while local governments will develop and promote tourism resources, and Korail will assist with securing seats and fare discounts. Director Kang emphasized, "The signing of this MOU and the operation of the consultative body aim to promote tourism development projects in the southern regions more systematically and cohesively. We plan to continue supporting the connection of railway routes and local tourism resources to disperse tourism demand concentrated in the metropolitan area to regions experiencing population decline."* This article has been translated by AI. 2026-05-14 11:20:35

Microsoft Seeks to Reduce Dependence on OpenAI by Targeting AI Startups Microsoft is exploring acquisition and investment opportunities in artificial intelligence (AI) startups to reduce its dependence on OpenAI. The company aims to maintain its collaboration with OpenAI while simultaneously expanding its own AI models and talent pool to broaden its technological options. According to Reuters, on May 13, Microsoft is preparing a strategy to lessen its reliance on long-term partner OpenAI by considering potential acquisitions and investments in AI startups. Sources familiar with the matter indicated that this move is part of Microsoft's efforts to secure AI talent and develop advanced AI models by 2027. Microsoft had previously considered acquiring Cursor, a startup that provides AI tools for software developers to write and modify code. However, discussions were reportedly halted due to internal concerns that acquiring Cursor could face antitrust scrutiny, especially since Microsoft already owns GitHub Copilot. The company is also in discussions with Inception, an AI startup founded by researchers at Stanford University. Inception is developing language models using a diffusion-based approach, distinct from existing large language models (LLMs). Microsoft's venture capital arm, M12, participated in a $50 million initial investment in Inception at the end of last year. Inception has recently hired an investment bank to explore potential sale options, with reports suggesting it is seeking over $1 billion. However, discussions are ongoing, and it remains uncertain whether a deal will materialize. The push to enhance its own AI capabilities comes amid evolving dynamics in Microsoft's relationship with OpenAI. Microsoft began its partnership with OpenAI in 2019 with a $1 billion investment. Following the success of ChatGPT in late 2022, Microsoft actively integrated OpenAI's technology into its products and Azure cloud services. As the collaboration expanded, the interests of both parties became increasingly complex. Reuters reported that Microsoft faced contractual limitations in developing foundational models that could compete with OpenAI, which in turn believed that the computing resources provided by Microsoft were insufficient. Consequently, both companies have relaxed their agreements multiple times. In a securities filing on April 29, Microsoft disclosed that it had executed $11.8 billion of the $13 billion it promised to OpenAI. Additionally, a Microsoft corporate development executive testified in court that the company has spent over $100 billion on OpenAI investments, infrastructure development, and hosting costs.* This article has been translated by AI. 2026-05-14 11:18:35

HD Hyundai to Support Partners Amid Ongoing Middle East Crisis HD Hyundai is stepping up to support its partners facing difficulties due to the prolonged conflict in the Middle East by expediting payments for materials. On May 14, HD Hyundai announced it would advance a total of 740 billion won in material payments by up to nine days. This decision comes in response to the increased financial burden on partners caused by global supply chain instability and rising raw material costs. In the shipbuilding and marine sectors, HD Hyundai Heavy Industries and HD Hyundai Samho will prepay approximately 568 billion won in material costs. HD Hyundai Marine Engines and HD Hyundai Marine Solutions are also set to expedite payments of 25.7 billion won and 10 billion won, respectively. Additionally, HD Hyundai Electric in the energy sector will advance 133 billion won. In the construction machinery sector, HD Construction Machinery will adjust the payment linkage system to reflect fluctuations in raw material prices for partners struggling with supply issues due to the ongoing crisis. The company will also enhance its response speed to urgent requests from partners, expanding its support. A representative from HD Hyundai stated, "In a situation where external uncertainties persist, these measures are aimed at supporting the stable operation of our partners' businesses. Since our partners are in a community of shared destiny, we will continue to pursue win-win strategies for mutual growth." Meanwhile, HD Hyundai reported the previous day that its consolidated revenue for the first quarter of this year reached 19.6019 trillion won, with an operating profit of 2.8348 trillion won. This marks a 14.7% increase in revenue and a 120.4% increase in operating profit compared to the same period last year.* This article has been translated by AI. 2026-05-14 11:17:48

Alteogen Shares Surge 8% After Patent Ruling, Reclaims Top Spot in KOSDAQ Market Alteogen's shares jumped over 8% in early trading after news broke that the U.S. Patent Trial and Appeal Board (PTAB) eased the company's litigation burden. This surge has propelled Alteogen to reclaim the top position in market capitalization on the KOSDAQ. As of 9:58 a.m. on May 14, the Korea Exchange reported that Alteogen's stock was trading at 383,500 won, up 29,500 won (8.33%) from the previous trading day. The company's market capitalization now stands at 20.53 trillion won, surpassing EcoPro BM's 19.66 trillion won to take the lead in the KOSDAQ rankings. This development follows the PTAB's ruling on May 12 (local time), which invalidated a U.S. patent held by Halozyme. Analysts believe this decision could favor both Alteogen and MSD in ongoing patent infringement lawsuits. Eom Min-yong, a researcher at Shinhan Investment Corp, predicted that the PTAB's ruling would lead to the dismissal of Halozyme's patent infringement lawsuit in U.S. civil court, as the patent in question has been invalidated. He added that with the invalidation of Halozyme's patent, the ALT-B4 patent is now secured until 2043, which is expected to enhance its value. Consequently, he raised his target price for Alteogen from 570,000 won to 620,000 won.* This article has been translated by AI. 2026-05-14 11:15:01