Rising Interest in Temples Reflects 'Hip Buddhism' Trend The demand for visiting temples has been confirmed through actual travel data amid the rising trend of 'Hip Buddhism.' Tmap Mobility reported on May 22 that an analysis of Tmap driving data from 2023 to 2025 showed a continuous increase in temple visitation over the past three years. Notably, the number of temple destination settings last year increased by 26.9% compared to the previous year. This reflects the trend of consuming traditional Buddhism not just as a religion but as an everyday experience and cultural content. Last year, the most visited temple was Bulguksa, followed by Naksansa, Tongdosa, Haedong Yonggungsa, and Bomunsa. Interest in temple experience programs is also growing. According to the Korean Buddhist Cultural Business Corporation, a total of 349,219 participants took part in temple stay programs across 158 temples nationwide last year. The popularity of Buddhist cultural content continues to rise. The '2025 Seoul International Buddhist Expo,' held in April, attracted over 200,000 visitors over four days, setting a record for the event. During the expo, the number of destination settings for COEX increased by 4.1% compared to the previous week, and was 77% higher than the week following the event. Tmap Mobility stated, "We plan to analyze changing lifestyles and social trends from various perspectives based on driving data."* This article has been translated by AI. 2026-05-23 10:54:21

Government to Increase Waste Incineration Fee for Out-of-Region Waste 정부가 폐기물 소각시설이 있는 지방자치단체가 다른 지자체 폐기물을 처리할 때 추가로 받는 수수료의 가산금이 10%에서 20%로 올리는 방안을 추진한다. 공공 소각시설 설치 사업의 재정 지원은 확대한다. 기후에너지환경부는 22일 경제관계장관회의에서 이런 내용의 공공 소각시설 조기 확충 방안을 보고했다. 올해부터 수도권에서 생활폐기물 직매립이 금지되면서 수도권 쓰레기가 충청 등 타 지자체로 옮겨져 처리되는 문제가 발생하고 있다. 생활폐기물을 그대로 묻지 못하고 소각하거나 재활용품을 골라내는 작업을 거친 뒤 잔재물만 묻을 수 있는 조치가 시행됐지만 수도권 지자체들이 공공 소각시설을 제때 확보하지 못했기 때문이다. 특히 생활폐기물 직매립 금지가 2030년 전국으로 확대 시행되는 만큼 정부는 공공 소각시설 확충에 속도를 낼 예정이다. 우선 폐기물 처리수수료 가산금을 현행 폐기물 처리 수수료의 10%에서 20%로 늘린다. 가산금은 지자체가 공공 소각시설에서 다른 지자체 생활폐기물을 처리해줄 때 폐기물 처리 수수료에 더해 추가로 받는 금액이다. 이를 통해 주민 지원 기금을 더 확보하고 소각시설 주민 수용성을 높인다. 공공 소각시설 설치 사업 지방재정투자심사는 기후부가 행정안전부와 협의해 면제한다. 올해 5월 기준 사업 계획이 구체화한 20개 공공 소각시설 설치 사업이 1차 연도 지방재정투자심사 면제된다. 수도권에서는 부천시·의정부시·김포시·구리시·과천시, 충청권에서는 세종시·충주시·영동군·아산시, 호남권에서는 전주시·담양군·고흥군·영암군·장성군·완도군, 영남·강원권에서는 대구시·김천시·고령군·창녕군·철원군 등의 지방재정투자심사가 면제된다. 국고 지원 대상은 확대된다. 소각시설 설치비뿐 아니라 기존 시설을 철거하는 비용과 부지 매입비도 국고를 지원한다. 공공 소각시설 설치 사업 관련 설계 적정성 검토는 계획설계 단계에선 검토받지 않도록 절차를 간소화한다. 사업방식과 관련해서는 턴키 방식과 정액 지원 사업 등 행정절차에 드는 시간이 짧은 사업방식을 우선해서 지원한다. 국고 지원액을 최초 산정액으로 고정해 총사업비 관리 대상에서 제외되는 정액 지원 사업의 경우 국고 보조율을 확대한다. 기후부는 '공공 소각시설 확충 지원단'을 통해 사업 추진 상황을 지속해서 점검한다. 또 환경영향평가 관련 사항을 사전에 검토해 환경영향평가 협의가 장기화하는 것을 막겠다는 계획이다. 김성환 기후에너지환경부 장관은 "생활폐기물 발생지 처리 원칙이 현장에서 제대로 작동하기 위해서는 공공 처리기반을 제때 갖추는 것이 핵심"이라며 "직매립 금지 제도의 전국 시행에 차질없도록 현장의 문제를 지속적으로 해결해 나갈 것"이라고 말했다.* This article has been translated by AI. 2026-05-23 10:52:18

North Korean football club's South visit unlikely to thaw inter-Korean ties: report SEOUL, May 23 (AJP) - North Korean women’s football club Naegohyang FC’s recent visit to South Korea is unlikely to lead to a broader thaw in inter-Korean relations, a South Korean state-run think tank said Friday. A recent report by the Institute for National Security Strategy said the visit should be viewed not as a signal of reconciliation but as “a limited form of contact between two states through an international sporting event,” according to researcher Kim Bo-mi. Naegohyang FC arrived in South Korea on May 17 to participate in the Asian Football Confederation Women’s Champions League. The North Korean side defeated Suwon FC Women 2-1 in the semifinals on May 20 and is set to face Japan’s Tokyo Verdy in the final at 2 p.m. Saturday in Suwon. The visit marked the first trip by a North Korean sports team to South Korea since 2018, drawing attention amid prolonged tensions between the two Koreas. But Kim said the behavior of the North Korean delegation and Pyongyang’s state media coverage suggested the North was intentionally avoiding any narrative of inter-Korean reconciliation or ethnic unity. “North Korea made clear that it views South Korea not as a partner for exchange and cooperation, but as a separate state encountered in an international competition,” Kim wrote. During the tournament, North Korean players and officials also appeared cautious about attaching political meaning to the visit, repeatedly emphasizing that they were focused “only on football.” Kim said it remains unlikely that the visit will trigger rapid improvements in inter-Korean ties or revive large-scale sports exchanges such as unified Korean teams, which were pursued during periods of relatively friendly relations in the past. “For the time being, inter-Korean relations are likely to show a complex pattern in which military tensions and limited exchanges coexist,” she said. Kim urged Seoul to recognize North Korea’s participation in limited exchanges under international norms and develop policies that reflect the changing nature of inter-Korean relations. 2026-05-23 10:50:51

SpaceX IPO Highlights Shift in Capitalism as South Korea Lags Behind SpaceX's initial public offering (IPO) is not just a major stock listing; it signifies a shift in the direction of capitalism. Just as the Industrial Revolution transformed society through railroads, oil, automobiles, and the internet, space is now emerging as the next economic frontier. Notably, SpaceX's investment prospectus states, "We will build cities on the Moon and other planets." What once might have seemed like science fiction is now a business plan valued in the trillions by global financial markets. Historically, new civilizations have always begun with the "expansion of mobility." During the Age of Exploration, Europe dominated the seas and reshaped global order, while the United States established economic supremacy through railroads, aviation, and the internet. Today, the U.S. is attempting to pioneer an economic realm beyond Earth through private space enterprises. This is not merely about space exploration; it is a long-term project aimed at redesigning humanity's systems for production, habitation, communication, and logistics. In this context, SpaceX's IPO represents a convergence of economics, philosophy, and national strategy. Investors are not merely betting on a rocket company; they are wagering on who will seize the infrastructure of future civilization. While oil companies were once the lifeblood of industrial society, companies with space transportation networks and satellite systems are likely to become the arteries of future civilization. The challenge lies in South Korea's response to this monumental change. The SpaceX investment prospectus indicates that due to registration issues under South Korean capital market laws, it will be difficult for domestic retail investors to participate directly in the IPO. Despite Mirae Asset Securities being part of the underwriting group, the likelihood of a simultaneous domestic offering has diminished. While global capital markets operate transnationally, South Korea remains mired in complex reporting procedures and rigid regulatory frameworks. This scenario is not unfamiliar. Similar issues have arisen in AI, biotechnology, and platform industries. While the world competes at speed, South Korea spends time on reviews, approvals, and regulatory assessments. The perspective on innovative industries differs significantly; the U.S. asks, "How do we nurture growth?" while South Korea focuses on "How do we control it?" As a result, private space companies have emerged in the U.S., while South Korea has seen an increase in regulatory documentation. A more fundamental issue is the difference in national imagination. The U.S. allows private companies to dream of building cities on the Moon, and the capital markets fund that dream. In contrast, South Korean society still expends energy on real estate prices, short-term performance, and political strife. Management and control take precedence over bold visions for future industries. For the economy to grow, it requires not just technology but also a culture that believes in the future. Both the Industrial Revolution and Silicon Valley ultimately stemmed from national imagination. Of course, regulation is necessary, and protecting investors is important. However, the issue lies in finding balance. Excessive preemptive regulation increases the risk of lacking innovation more than it mitigates the risks of innovation itself. Currently, global capital markets are being reshaped around future industries such as AI, space, and quantum computing. If South Korea's capital markets remain shackled by the regulatory frameworks of the past manufacturing era, it will inevitably fall behind in global competition. National strategy must also evolve. The space industry should be approached not merely as a science and technology policy but as an issue of economic security and industrial hegemony. NASA does not do everything directly; the government sets direction and initial demand, while private companies handle speed and innovation. This is the American model of technological hegemony. South Korea must move away from a government-led approach and cultivate a private sector-centered ecosystem. Regulatory agencies should also shift from a focus on approvals to supporting innovation. Companies must adapt as well. Future industries are becoming a competition not just in manufacturing but in "designing civilization." Semiconductors, batteries, AI, and aerospace should not be viewed separately but as part of an interconnected ecosystem. Today, corporate competitiveness arises from platforms, networks, data, and imagination rather than factory size. The strength demonstrated by SpaceX ultimately lies in its narrative of designing future order rather than just the rockets themselves. The South Korean economy stands at a critical crossroads. In the face of low growth, declining population, and sluggish manufacturing, repeating past methods will hinder new leaps forward. What is needed is not just a few regulatory relaxations but a fundamental shift in national governance philosophy. The country must become one that increases challenges rather than reduces failures. It must transition from a managed economy to an innovative economy. Five hundred years ago, the nation that dominated the seas ruled the world. A century ago, the country that claimed the skies became a great power. Now, those who seize space and AI will likely lead the future order. SpaceX's IPO is not just a stock listing; it is a signal that "the future has already begun." South Korea must now decide whether to remain in the safety zone of regulation or participate in the race to pioneer a new civilization.* This article has been translated by AI. 2026-05-23 10:48:57

Teacher Who Reported School Misconduct Found Dead After Fall A teacher in his 50s was found dead after falling from an apartment in Gi-echeon City. According to police, the incident occurred around 2 a.m. on May 21. The teacher, identified only as Mr. A, had reported misconduct related to embezzlement and drunk driving by school officials in 2023. Following his whistleblowing, he was reportedly sued for defamation by individuals associated with the school. No suicide note was found at the scene, and police are investigating the circumstances surrounding the fall using CCTV footage and other evidence.* This article has been translated by AI. 2026-05-23 10:46:22

Launch of National Participation Growth Fund Offers Up to 40% Tax Deduction The National Participation Growth Fund, designed to invest in advanced strategic industries such as artificial intelligence, semiconductors, and secondary batteries, was launched on May 22. According to the financial sector, the Financial Services Commission has begun a three-week subscription period for the fund, which will be available on a first-come, first-served basis. This year, the total fundraising target is set at 600 billion won, with subscriptions available through 10 major banks and 15 securities firms, either in-person or online.Due to the first-come, first-served nature of the offering, it may close early if the allocation is exhausted. The government has allocated 20% (120 billion won) of the total sales for the first two weeks (until June 4) specifically for low-income individuals, targeting those with an annual earned income of 50 million won or less, or a total income of 38 million won or less. Additionally, during the first week, online subscriptions will be limited to 50% of the total.The investment limit is set at 100 million won per person annually, with a maximum of 200 million won over five years. The minimum subscription amount varies by sales firm, ranging from 100,000 won to 1 million won.Tax benefits are available for those who maintain their investment in a dedicated account for three years. A tax deduction of 40% applies to amounts up to 30 million won, 20% for amounts between 30 million and 50 million won, and 10% for amounts between 50 million and 70 million won, with a maximum deduction of 18 million won.Investors who hold their investment for over five years will benefit from a separate taxation rate of 9.9% on dividend income, which can help reduce health insurance premiums and the burden of comprehensive taxation on financial income. However, to receive these tax benefits, individuals must obtain and submit an income verification certificate for the Individual Savings Account (ISA) from the National Tax Service or the Government 24 website.Moreover, individuals who were subject to comprehensive taxation on financial income at any point between 2023 and 2025 can only subscribe through a general account, which has an annual limit of 30 million won. Comprehensive taxation on financial income applies when the total interest and dividend income exceeds 20 million won in a year.The National Growth Fund is a policy fund co-created by the government and the private sector. It will pool public funds to create a master fund, which will then be invested in 10 sub-funds related to advanced strategic industries, combining government finances and private investment. The government plans to raise 3 trillion won (600 billion won annually) from the public over five years out of a total of 150 trillion won. In the event of losses in the sub-funds, the government will cover up to 20% of the public investment using its subordinate financial contributions.However, it is important to note that the loss coverage applies to the public investment amount, not the total losses of the fund. For instance, if a sub-fund consists of 1 billion won in public investment, 200 million won in government finances, and 120 million won in private investment, and losses occur, the government will only cover losses up to 200 million won, which is 20% of the public investment. Therefore, the proportion of government loss coverage relative to the total size of the individual sub-fund may be lower than 20%.Additionally, investors will not be able to redeem their investments for five years, and the fund is classified as a high-risk investment product with no principal guarantee. As a result, individuals must undergo a suitability assessment to determine if their investment profile aligns with this product.* This article has been translated by AI. 2026-05-23 10:45:00

NH Investment & Securities Raises LG Innotek Target Price by 20% Amid Expansion in Autonomous Driving and Semiconductor Business NH Investment & Securities announced on May 22 that it has raised its target price for LG Innotek from 1 million won to 1.2 million won, a 20% increase, citing the company's expansion in autonomous driving-related businesses beyond vehicle camera modules to include application processor (AP) modules and FC-BGA substrates. The firm maintained its "buy" rating on the stock. Hwang Ji-hyun, a researcher at NH Investment & Securities, noted, "The expansion of the autonomous driving business beyond vehicle camera modules to include automotive AP modules and autonomous driving FC-BGA substrates is a positive development." According to NH Investment & Securities, the automotive AP module business involves modularizing APs sourced from global companies. The company is currently expanding its production capacity, with mass production expected to begin in the fourth quarter of 2026. Quality testing is also underway for the autonomous driving FC-BGA substrates aimed at North American automotive clients, with mass production anticipated in early 2027 upon approval. The analysis indicates that LG Innotek is diversifying its risk by expanding its business from a focus on IT sets to the automotive and semiconductor sectors. LG Innotek has set a target of 5 trillion won in sales from automotive components by 2030. The company expects its automotive component business, which includes communications, lighting, cameras, and battery management systems (BMS), to grow at an average annual rate of 20% over the next five years, surpassing the overall revenue growth rate. The company's efforts to expand its position within the autonomous driving value chain through partnerships with external firms have also been positively received. Last year, LG Innotek invested in the U.S. lidar company Aeva and is currently collaborating on a multi-sensing module project. Aeva is a company selected for NVIDIA's "Hyperion 10" reference platform. Additionally, LG Innotek has established a strategic partnership this year with the U.S. autonomous driving software company Applied Intuition. Hwang stated, "Given that the company has secured numerous global top-tier automotive manufacturers as clients, we expect synergies in terms of sales and customer engagement moving forward."* This article has been translated by AI. 2026-05-23 10:42:20

Actor Kim Kyuri Victimized in Home Invasion; Suspect Arrested Actor Kim Kyuri was the latest victim of a home invasion, following fellow actress Nana, as a man in his 40s was arrested for assault and robbery at her residence. According to Yonhap News, the Jongno Police Station in Seoul reported that the suspect, identified as A, was apprehended on charges of robbery and assault. A is accused of entering Kim's home around 9 p.m. the previous day, demanding valuables and assaulting the residents. At the time of the incident, Kim was at home with another woman. The two managed to escape when A's attention waned and sought help from nearby citizens. Reports indicate that both women sustained injuries, including fractures and bruises, due to A's assault. Police arrested A around midnight after he turned himself in approximately three hours after the crime. Authorities are investigating whether the crime was premeditated and are considering applying for an arrest warrant for A. This incident follows a series of similar robberies targeting celebrities' homes. In November of last year, a man in his 30s broke into Nana's residence armed with a weapon, threatening her and her mother. Additionally, in April of last year, a robbery occurred at comedian Park Na-rae's home, where valuables worth millions were stolen, drawing significant public attention.* This article has been translated by AI. 2026-05-23 10:39:46

Korea's Financial Chief Announces Inclusive Finance Initiative Lee Ok-won, the Chairman of the Financial Services Commission, announced plans to launch an 'Inclusive Finance Strategy Promotion Team' next month. The discussions will include appointing a 'Chief Officer for Inclusive Finance' within financial institutions, improving credit evaluation methods, rationalizing soundness regulations, and strengthening management of delinquent debts. This initiative aims to directly address issues related to long-term delinquent debt collection and financial exclusion, particularly in light of the recent Sangnok-su incident. The direction is correct, but the key lies in execution rather than mere declaration. Finance is not just an industry that lends money and collects interest. It is the lifeblood of capitalism, a ladder for individuals to rise again, and fuel for corporate growth. When finance operates correctly, capital flows to productive areas. Conversely, when finance is distorted, money concentrates in real estate and short-term profits, leaving those who have failed without a chance to recover. Historically, finance has evolved alongside the growth of civilization. The banking industry in medieval Italy fostered the growth of commercial cities, and the Industrial Revolution was impossible without long-term capital supply. The United States' position at the center of the global economy is rooted in the dollar system and deep capital markets. Finance has always been an institution that invests in trust and future possibilities. However, South Korean finance has long been overly focused on stability and soundness. While the stability of the financial system is important, an excessive emphasis on stability can turn finance into an organization that avoids risks rather than one that creates new opportunities. A history of delinquency makes it difficult to recover, and without collateral, obtaining startup funds becomes challenging. When finance only considers past failures rather than a person's potential, inclusivity disappears. The issues raised by the Sangnok-su incident highlight this problem. Long-term delinquent debts are traded at rock-bottom prices, and debtors face prolonged collection pressures. While this may make sense from the perspective of financial companies seeking to recover debts, it ultimately reduces the potential for consumption and recovery across society. If finance is perceived as a system that pushes people to the brink rather than one that saves them, trust in the market economy erodes. Globally, financial inclusion is also a significant policy challenge. The Community Reinvestment Act (CRA) in the United States encourages banks to meet the credit needs of low- and moderate-income communities in their service areas. In the UK, Big Society Capital was established as a wholesale investment institution to grow the social investment market. These examples underscore the view of finance as a social infrastructure rather than merely a profit-driven industry. However, inclusive finance must not devolve into welfare finance. The foundation of finance is credit and responsibility. Ignoring risks in support ultimately leads to insolvency and moral hazard. The real challenge is to reduce financial exclusion while maintaining market principles. This requires a change in credit evaluation. The structure that brands a single failure as a lifelong stigma must be corrected. Various data, such as telecommunications payment history, income flow, business sustainability, and platform transaction history, should be utilized to assess a person's recovery potential. The plan to reflect inclusive finance in the governance of financial companies is also significant. Banks and financial holding companies are not merely private enterprises; they operate based on public trust and national deposits. Therefore, they bear a higher social responsibility. However, responsibility alone should not be imposed. To sustain inclusive finance, financial institutions need an incentive structure that balances profitability and soundness. At the national level, inclusive finance should not be confined to support policies for the underprivileged. It must be a growth strategy. Funding should flow into youth entrepreneurship, local economies, second-chance businesses, and new industries. The strength of Silicon Valley emerged from a financial ecosystem that tolerates failure. For the South Korean economy to overcome low growth and population decline, finance must shift from a collateral-centric approach to one focused on potential. From an industrial perspective, the flow of money must change. Finance that remains focused on real estate and stable interest margins cannot nurture future industries. Long-term capital and venture capital are needed in fields such as AI, biotechnology, aerospace, and energy transition. Inclusive finance is not only about helping vulnerable groups but also about broadening the foundation for new growth. At the corporate level, financial companies should view customers not merely as risk subjects but as long-term partners. Inclusive finance is an investment in creating future customers, not a cost. Only financial institutions that earn social trust will survive in the long run. The conclusion is clear. Finance should be a cycle, not a predation. It should be about recovery, not exclusion. It must invest in future possibilities, not just short-term profits. This new promotion team must not become a mere showpiece. The nation, industry, and corporations must all reaffirm the purpose of finance. When money flows towards people, businesses, and the future rather than chasing only profit, South Korean finance can finally restore trust.* This article has been translated by AI. 2026-05-23 10:37:20

Market Preview: Dow Hits Record High as KOSPI Faces Profit-Taking U.S. stocks rose across the board as optimism about progress in negotiations between the U.S. and Iran led to declines in international oil prices and U.S. Treasury yields. The Dow Jones Industrial Average reached a new all-time high, although NVIDIA saw a drop due to profit-taking. Meanwhile, the domestic market is expected to experience a pause following its recent surge. 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 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. The New York market saw increased volatility early in the session due to news related to the Iran negotiations, but later rebounded as expectations for a diplomatic resolution between the U.S. and Iran grew stronger. President Donald Trump mentioned the negotiations were in the 'final stage,' and the U.S. Secretary of State hinted at the possibility of progress, boosting investor sentiment. International oil prices and U.S. Treasury yields also fell. July Brent crude futures dropped 2.32% to $102.58 per barrel, while July West Texas Intermediate (WTI) crude futures fell 1.94% to $96.35. The yield on the U.S. 10-year Treasury note decreased to around 4.57%. In individual stocks, NVIDIA, which reported strong earnings the previous day, fell 1.8%. Despite exceeding market expectations, the decline was attributed to profit-taking following its recent surge. Conversely, IBM surged 12.4% on expectations of subsidies related to quantum computing, with other related stocks like Rigetti Computing also performing well. Walmart, however, fell 7.27% due to a conservative earnings outlook and concerns over fuel costs. The domestic market is expected to digest profit-taking pressures following KOSPI's 8.42% surge the previous day. However, the stability of U.S. interest rates and ongoing optimism regarding U.S.-Iran negotiations are seen as supporting factors. As of 8:35 a.m. on the NXT pre-market, Samsung Electronics was up 0.6%. Hyundai Motor showed slight gains, while SK Telecom rose over 10%, and LG Electronics and Doosan Enerbility recorded gains of around 5%. Analysts suggest that high volatility may continue in the near term, but the trend of leading stocks centered around the AI value chain is expected to remain intact. Han Ji-young, a researcher at Kiwoom Securities, stated, "Recent markets have been heavily influenced by inflation, interest rates, and geopolitical factors, but ultimately, the key will be the progress of U.S.-Iran negotiations. Sectors with strong earnings potential in the AI value chain, such as semiconductors and IT hardware, are likely to maintain relatively stable performance even in a volatile environment."* This article has been translated by AI. 2026-05-23 10:34:43