Jensen Huang's Visit to South Korea: Implications for AI Collaboration with Nvidia Jensen Huang, CEO of Nvidia, departed South Korea on June 9 amid ongoing discussions about whether his visit will yield tangible business opportunities for the country's AI ecosystem.Upon his arrival on June 5, Huang sparked interest by stating, "I brought a surprise gift for Korea," and claimed that he had secured the largest business deal in Korean history, which he said would bring hundreds of billions of dollars in revenue to the country. However, he did not disclose specific contract details.During his visit, Huang did not solely focus on securing high-bandwidth memory (HBM). He indicated a strategy to broaden collaboration to include cooling, power, and automation equipment necessary for building AI data centers, as well as future partnerships in the robotics market, aiming to proactively establish a Physical AI infrastructure.His engagements with LG Electronics and Hyundai Motor Group drew particular attention. LG Electronics possesses capabilities in cooling solutions and data center infrastructure, while Hyundai is nurturing robotics and future mobility as key growth drivers. This suggests Nvidia's intention to involve South Korean companies as major partners in building a Physical AI ecosystem.However, it remains to be seen whether this visit will translate into substantial business outcomes worth hundreds of billions of dollars. While Huang confirmed a willingness to collaborate with major domestic firms during a series of meetings, there were no announcements regarding new investments or large supply contracts. Most discussions appeared to focus on strengthening existing partnerships or outlining future collaboration directions.Some view this visit as an effort to encourage domestic companies to expand their AI infrastructure investments. As demand for AI grows, sales of Nvidia products, such as graphics processing units (GPUs), are expected to increase. The call for strengthened partnerships may imply a push for companies to invest more.Nvidia's encouragement for South Korean companies to join the global AI market is generally viewed positively. If collaborations materialize in areas where South Korea has competitive advantages, such as HBM, AI servers, and robotics, significant long-term impacts are anticipated.The significance of Huang's visit should be assessed more in terms of future potential rather than immediate results. Nvidia has clearly signaled its intention to position South Korea as a key partner in AI infrastructure and Physical AI, beyond just a memory supplier. An industry insider noted, "It remains to be seen whether this meeting between Huang and domestic companies will lead to actual investments, contracts, and technological collaborations, which will need to be confirmed through specific business outcomes in the future." 2026-06-09 18:03:00

FSS to launch probe as won volatility deepens SEOUL, June 9 (AJP) - The Financial Supervisory Service (FSS) will launch a joint inspection with the Bank of Korea (BOK) to crack down on speculative currency trading and other market-disrupting activities, as they step up warnings to banks after the won briefly weakened past 1,560 per dollar earlier this week. The South Korean currency later pared losses following repeated verbal intervention by financial authorities, but officials remain on alert as expectations of further U.S. rate hikes and geopolitical uncertainty continue to fuel sharp swings in the foreign exchange market. The FSS held an FX stabilization meeting Tuesday with treasury executives from major commercial banks and foreign bank branches, following a broader interagency meeting on the foreign exchange market a day earlier. The regulator said it will work with the central bank to examine whether recent market volatility and won weakness have been used for speculative transactions or other activities that distort market prices. Foreign bank branches with large positions in non-deliverable forwards (NDFs) are expected to be among the first targets of the inspections. FSS' senior vice governor Kim Sung-uk urged banks to comply with foreign exchange trading rules and strengthen internal controls against market-disrupting behavior. The FSS also told banks to avoid aggressive marketing campaigns or excessive competition to attract dollar deposits at a time of heightened exchange-rate volatility. Banks were also asked to give clearer guidance to consumers on potential foreign exchange losses. The regulator specifically called for stronger cooperation to ensure offshore NDF trading does not add to volatility or one-way bets in the domestic foreign exchange market. The FSS will temporarily tighten oversight of major banks' foreign exchange positions by shortening the review cycle from monthly to weekly or even daily checks. At the same time, the regulator will extend by six months, through the end of this year, a grace period for supervisory measures tied to advanced foreign currency liquidity stress tests. Moon Ji-sung, deputy minister for international affairs at the Ministry of Economy and Finance, also reaffirmed that authorities will respond sternly to speculative trading that undermines market order. The FSS also plans to call in other major financial sectors, including securities firms and insurers, to review risk controls related to overseas investment marketing, dollar-denominated insurance products and foreign exchange volatility. 2026-06-09 18:02:02

Bank of Japan Poised to Raise Interest Rates to 1% for First Time in 31 Years The Bank of Japan is increasingly likely to implement an interest rate hike at its monetary policy meeting this month. Rising oil prices due to instability in the Middle East have raised concerns that inflation could spread more broadly. The central bank is considering raising the current policy interest rate from 0.75% to 1.0%. If approved, this would mark the first time Japan's policy interest rate has reached the 1% level since 1995. On June 9, the Nikkei reported that the Bank of Japan plans to decide on the rate hike during its monetary policy meeting scheduled for June 15-16. Governor Kazuo Ueda and other officials are expected to present the proposal, which is anticipated to receive majority support from the nine-member policy board. The Asahi Shimbun also reported the likelihood of the central bank raising the policy rate to 1.0% during the June meeting. The Bank of Japan's inclination toward raising rates stems from concerns that inflationary pressures may be greater than previously anticipated. The central bank believes that rising oil prices, driven by geopolitical tensions, could lead to increased energy costs and higher prices for consumers. The consumer price index (CPI), excluding temporary factors such as government subsidies for electricity and gas, rose 2.8% in April compared to the same month last year, up from a 2.5% increase in March. Additionally, the corporate goods price index rose 4.9% year-on-year in April, marking the highest increase since May 2023. In a speech on June 3, Governor Ueda remarked on the potential impact of Middle Eastern tensions on the economy and prices, stating, "Overall, the risks of upward pressure on prices are greater, and the likelihood of these pressures appearing sooner is also higher." He indicated that if the risks of inflation outweigh those of economic slowdown, there would be a need for thorough discussions on the possibility of a rate hike. Ueda also suggested that the central bank could proceed with a rate increase despite the ongoing "uncertain situation" in the Middle East. Measures to Stabilize the Bond Market However, the Bank of Japan plans to implement measures to stabilize the government bond market while raising interest rates. Typically, an increase in rates leads to a decline in bond prices, prompting the central bank to take steps to prevent excessive drops in bond prices (and rising bond yields). According to the Nikkei, the Bank of Japan is coordinating to halt its current reduction of bond purchases after April 2027. This plan has garnered majority support from policy board members, and the central bank is in discussions with the government. Under the current plan, bond purchases will be reduced by 200 billion yen each quarter from January to March 2027, but it is being considered to maintain monthly bond purchases at 2.1 trillion yen starting in April of that year. This approach aims to raise interest rates to address inflation while simultaneously mitigating shocks to the bond market by pausing the reduction of bond purchases, thereby adjusting the pace of normalization. An increase in the policy rate generally raises short-term interest rates across the financial sector, while a reduction in bond purchases can exert upward pressure on long-term rates in the bond market. If both measures are aggressively pursued, bond yields could rise more rapidly, exacerbating market instability. Since 2013, the Bank of Japan has engaged in large-scale monetary easing, acquiring significant amounts of long-term government bonds. As a result, the central bank's holdings in the bond market reached around 54% at one point in 2023. The Bank has been gradually reducing its bond purchases since August 2024 to restore market functionality, but recent inflation and fiscal expansion concerns have led to a surge in long-term yields, increasing instability in the bond market. In May, the yield on Japan's 10-year government bonds briefly rose to around 2.8%, the highest level in nearly 29 and a half years. Nevertheless, halting the reduction of bond purchases does not mean the Bank of Japan is abandoning its path toward monetary policy normalization. As previously acquired bonds mature, the central bank's bond holdings will continue to decrease. The Bank aims to respond to inflation through interest rate hikes while managing the pace of normalization to avoid exacerbating instability in the bond market. This upcoming meeting will serve as a significant test for the Bank of Japan as it navigates the challenges of a weak yen, rising prices, and instability in the bond market. The yen has recently fallen below the 160 yen per dollar mark for the first time in a month. While a rate hike could help alleviate pressure from a weaker yen and rising import prices, it also poses a burden by increasing mortgage rates for households and borrowing costs for businesses. Conversely, pausing the reduction of bond purchases may stabilize the bond market but could signal a delay in the normalization of monetary policy. Balancing inflation control with bond market stability is becoming increasingly challenging for the Bank of Japan. Additionally, if the Bank of Japan proceeds with a rate hike, tensions with the government of Sanae Takaichi, which is pursuing an expansionary fiscal policy, are likely to arise.* This article has been translated by AI. 2026-06-09 17:57:00

Shin Ramyeon Celebrates 40 Years of Global Popularity, Reaches Remote Himalayas Travelers leave Pokhara, Nepal's second-largest city and a gem of the Himalayas, and arrive at the last point accessible by jeep. From there, they embark on a challenging week-long trek to Annapurna Base Camp (ABC), located at an altitude of 13,600 feet. The breathtaking scenery, often referred to as the roof of the world, captivates trekkers, but what surprises many Korean hikers is the constant presence of Shin Ramyeon throughout their journey. During the week-long trek, hikers stay in lodges, where they can find a familiar item on every menu: "KOREAN NOODLE SOUP." Curious trekkers who order it are invariably served Shin Ramyeon. At the beginning of the trek, travelers are astonished to find Shin Ramyeon in such a remote area, snapping photos of the packaging and menus. However, as they continue, they come to accept its presence as a norm. While travelers often worry about unfamiliar local cuisine, those hiking in Annapurna can set those concerns aside, knowing they can enjoy a taste of home. The availability of Korean ramen at such high altitudes is due to the efforts of local vendors. All Shin Ramyeon sold along the trekking route is supplied by large supermarkets in Pokhara. Lodge operators and distributors purchase the ramen in bulk, which is then transported up the mountain by donkeys or porters. Interestingly, from the village of Bamboo onwards, all supplies must be carried by hand. This is due to the challenging terrain and restrictions on meat imports influenced by local Hindu temples, which also prohibit animal access. As a result, professional porters must carry boxes of ramen on their backs, step by step. As a consequence of these logistical challenges, the price of ramen increases with altitude. Shin Ramyeon, which sells for about 6,000 won at mid-trek points, can cost as much as 10,000 won at ABC, more than ten times the price at supermarkets below. Given the difficulty of finding gas or firewood to boil water, it becomes a rare and sought-after commodity, often selling out due to high demand from travelers. In the high-altitude environment where luggage weight is severely limited, why do local lodge owners choose to carry Shin Ramyeon? A lodge owner named Gurung from the village of Chomrong explained, "We have limited space for groceries, so we must bring the best-selling products. Shin Ramyeon is the most recognized and sought-after ramen among trekkers." When asked if this was due to the high number of Koreans, he shook his head, stating that even foreign tourists from other countries prefer it more. Upon reaching the final destination at Annapurna Base Camp, I ordered Shin Ramyeon for dinner. It arrived quickly in a worn stainless steel bowl, looking just like what a Korean grandmother would serve, with perfectly cooked noodles and a rustic presentation of a yellow egg. After walking over 30,000 steps in the cold mountain air, the familiar spicy flavor brought comfort. Looking around the restaurant, I noticed foreign trekkers also enjoying Shin Ramyeon. When I asked a Chinese tourist named Jessie why he ordered it, he said, "After a cold and exhausting hike, I instinctively craved something hot and spicy, and Shin Ramyeon is just that. I often eat it back in China, so I'm familiar with it." He even pulled out side dishes he had brought from China to enjoy with his ramen. This year marks the 40th anniversary of Shin Ramyeon, which has penetrated even the remote regions of the Himalayas. The brand recently achieved cumulative sales of 20 trillion won and 42.5 billion units sold, establishing itself as a beloved brand in over 100 countries. Approximately 40% of total sales now come from international markets, solidifying its status as a global brand. Nongshim has adopted the global slogan "Spicy Happiness In Noodles" and is accelerating its efforts to expand in overseas markets. A Nongshim representative stated, "In regions like Nepal, there are no local corporations or staff, so local wholesalers handle distribution after we supply the products. Given the mountainous terrain and tourist nature, we see that hikers frequently seek out ramen."* This article has been translated by AI. 2026-06-09 17:57:00

HY and Paldo Target U.S. Market with BTS-Backed Brand ARIH HY and Paldo, previously focused on the domestic market and Asian expansion, are accelerating their entry into the U.S. market with the backing of BTS. Their newly launched global food and beverage brand, ARIH, has seen early success in the U.S., raising industry speculation about whether this project could mark a turning point for their international business growth. According to the food industry on June 9, ARIH, a global food and beverage brand co-developed by HY and its subsidiary Paldo with BTS, debuted in April through Walmart in the U.S. and has now been officially launched in the domestic market. This bold move reverses the traditional strategy of gaining popularity in the domestic market before venturing abroad, highlighting the urgency for both companies to expand internationally. While HY has established a strong competitive edge in the domestic fermented dairy and probiotic market, its international business performance has been limited. In 2024, the company began exporting food products, focusing on home meal replacements (HMR), snacks, and ready-to-drink coffee, but reported only 3 billion won in overseas sales during its first year, accounting for less than 1% of its total revenue of 1.68 trillion won. Paldo has also faced challenges in penetrating the North American market, which is considered a crucial target. Last year, Paldo recorded approximately 150 billion won in exports, with successful operations in Russia (about 500 billion won) and Vietnam (about 100 billion won), but its presence in North America remains relatively weak compared to competitors like Nongshim and Samyang Foods, which have increased their overseas sales ratios to 40% and 80%, respectively, by leveraging the U.S. market. The collaboration between HY and Paldo through BTS has led to the creation of ARIH, with both companies establishing a local subsidiary, HYH America, at the end of last year. The ownership structure consists of 46% for HY, 35% for HYBE, and 19% for Paldo. BTS has played a significant role beyond just being a promotional model, participating in the initial brand planning, product flavor, concept, and packaging design, thereby enhancing the brand's value. This synergy has resulted in a rare achievement for a new brand, with ARIH being available in Walmart stores across the U.S. from the outset. Within just three days of its U.S. launch, ARIH earned a 'bestseller' badge on Walmart's online platform, and some stores experienced sellouts, indicating early commercial success. The brand's design, aimed at global consumers' lifestyles, has also been well-received. ARIH features a lineup of 28 products, including modern noodles, post-biotic energy drinks, and dual-biotic sodas, presenting a new perspective on food that transcends traditional K-food by promoting a 'modern balanced food' concept. The goal is to encourage a healthier food culture rather than relying on overly stimulating foods. In South Korea, ARIH has begun sales through Fredit and Naver Smart Store, and recently expanded its distribution network by introducing beverage products in Mega MGC Coffee locations nationwide. Lotte Duty-Free will also start selling ARIH products at Gimhae Airport, Busan, and Incheon Airport's second passenger terminal, with plans to include Gimpo Airport starting June 19. Industry experts view the ARIH project as a critical juncture for Paldo and HY's international business expansion. While the initial market entry has been facilitated by BTS's fanbase, the long-term success will depend on the product's ability to encourage repeat purchases from local consumers and maintain competitive distribution. Both companies plan to establish ARIH as an independent global brand and significantly expand its market reach to Japan, Mexico, and Canada. An official from HY and Paldo stated, "ARIH represents a new direction for targeting the global food market, and we will successfully establish the brand through tailored marketing strategies that align with local market conditions."* This article has been translated by AI. 2026-06-09 17:57:00

From chicken to K-pop: why Jensen Huang fell for Korea's soft power SEOUL, June 09 (AJP) — Nvidia CEO Jensen Huang surely knew how to mix business with pleasure. He returned home Tuesday with deals on not just memory chips for Nvidia's next-generation Rubin and Vera platforms, but also bags of HBM chip snacks to munch on and the lingering aftertaste of chicken, soju and Korean hospitality. Since his arrival last Friday, Huang dominated headlines and social media feeds, shuttling between beer and soju gatherings with Korean tech giants, a baseball stadium appearance complete with a ceremonial first pitch, meetings with esports icon Faker and ordinary pedestrians, a brief dance to a K-pop hit and an enthusiastic discussion of singer Hwasa. While his meetings with business leaders focused on the future of artificial intelligence and multibillion-dollar partnerships, many of the moments that resonated most with the public reflected his enthusiasm for Korean culture and soft power. Food topped the list. "I love to eat," Huang told reporters. "I thought my favorite food in Korea was fried chicken, but I was wrong." He had discovered samgyetang, Korea's traditional ginseng chicken soup, and samgyeopsal, the country's ubiquitous pork barbecue. The food tour began almost immediately after his arrival. On his first evening, Huang was joined by SK Group Chairman Chey Tae-won, LG Group Chairman Koo Kwang-mo and Naver founder Lee Hae-jin for a barbecue dinner in Seoul's Hongdae district, with hundreds of fans and reporters closely following and livestreaming what was being served. Reflecting on the meal during his appearance on tvN's popular talk show "You Quiz on the Block," Huang joked, "I ate most of it, because I'm the oldest." Afterward, he greeted citizens outside the restaurant, signing autographs and handing out HBM Chip snacks. The images quickly went viral. Convenience store chain Seven Eleven said sales of the snack jumped 704 percent during June 6-7 compared with a week earlier. The following day, he was photographed enjoying samgyetang with family members at a well-known restaurant in central Seoul. Korean media soon noticed a pattern: wherever Huang went, chicken seemed to follow. During a previous visit to Seoul in October 2025, he attended a chimaek gathering with Samsung Electronics Chairman Lee Jae-yong and Hyundai Motor Group Executive Chair Chung Eui-sun at a chicken restaurant in Gangnam. That theme resurfaced at Jamsil Baseball Stadium, where Huang threw out the ceremonial first pitch before a Korea Baseball Organization game. "Nothing is better than chimaek," he said, using the popular Korean term for fried chicken and beer. Even after a schedule dominated by AI, semiconductors and business meetings, food remained on his mind. Speaking at the Shilla Hotel after a private meeting with Samsung Electronics DS Division Vice Chairman Jun Young-hyun at the Guest House, Huang enthusiastically revisited his first meal in Korea. "A little sesame oil, a little bit of salt. Come on, that's incredible," he said, smacking his lips at the memory. Food, however, was only one part of the story. Later on "You Quiz on the Block," Huang surprised viewers by dancing to "Golden," the hit soundtrack from Netflix's animated film "KPop Demon Hunters." "Who doesn't love Golden?" Huang said with a smile. He also expressed admiration for singer Hwasa. "I do also love Hwasa," Huang said. "She's a very good dancer, a good singer." He even referenced her songs "Good Goodbye" and the newer "So Cute," surprising host Yoo Jae-suk with his familiarity with her music. He was pleased with an observation from fortune teller Park Sung-jun, who interpreted his facial features on the show — saying his high forehead signified extraordinary intelligence and his nose indicated lifelong prosperity. Huang responded with characteristic humor. "Your nose is not big enough," he told the host. "My nose is extraordinary tycoon - "New Korea fashion: Jensen nose," he joked. His up-close show appearance was notable for another reason. Despite being one of the world's most recognizable technology executives, Huang chose a Korean variety show for his first appearance on an entertainment program. His interest in Korean culture extended beyond food and K-pop. Shortly after arriving in Seoul, Huang visited T1 Base Camp and met legendary esports player Lee Sang-hyeok, better known as Faker. Days later, he appeared at Jamsil Stadium wearing a Doosan Bears jersey bearing the number 93, a tribute to Nvidia's founding year. Taken together, the images formed a striking contrast to Huang's public image as the face of the global AI boom. Rather than appearing only in boardrooms and conference halls, he spent much of his visit engaging with the cultural experiences that millions of people around the world increasingly associate with South Korea. For Huang, those experiences were not separate from the country's technology ambitions. He told reporters what he had told Korea's deputy prime minister for science and ICT Bae Kyung-hoon - that Korea's cultural strengths are one reason the country is uniquely positioned for the AI era. "I told the deputy prime minister that this is Korea's moment and that this moment must take advantage of Korea's culture," Huang said. "Korea's culture is very, very adaptable to technology. The culture is very accepting of new technology. In the last 25 years, so much technology came into Korean culture and it was adapted so easily." "The culture is perfect for new technology, artificial intelligence." He also pointed to Korea's geopolitical position and openness to global partnerships. "If there's a country that represents lovers, not fighters, it would be Korea," Huang said. The comment drew laughter, but it also reflected a recurring theme throughout his visit: that Korea's appeal extends beyond manufacturing and technology. For Huang, the country's competitive advantage lies equally in its people. "There's a culture of Korea that is about knowledge and wisdom and dedication and suffering. You have to protect that," he said. As artificial intelligence makes computing power and even intelligence itself increasingly accessible, Huang argued that character becomes the true differentiator. "Intelligence is now a commodity because of artificial intelligence. Running fast is a commodity." "Intelligence plus character is not a commodity." "The character is suffering, the ability to suffer. I have a deep ability to suffer. Nobody can suffer better than I can." Then he turned the observation toward Korea itself. "No country can suffer better than Korea." "The grandparents, your parents created everything that we see today from their suffering, from their resilience, from their incredible desire to create this future for you." "This is the national character of Korea." "If you combine that with AI, incredible things can happen." 2026-06-09 17:52:57

South Korea's Justice Ministry Establishes New Agency to Address Juvenile Crime The South Korean government is restructuring and elevating its agency dedicated to reducing the recidivism rate among juvenile offenders, which is higher than that of adults.On June 9, the Justice Ministry, led by Minister Jeong Seong-ho, announced a new strategy aimed at decreasing recidivism rates among juvenile offenders, including those under protective supervision.The ministry plans to establish a new decision-making body focused on juvenile crime prevention, replacing the temporary Juvenile Crime Prevention Team currently in operation. Additionally, the department responsible for practical implementation will be upgraded to a headquarters-level organization.To eliminate negative effects such as criminal learning that arise from the existing adult-centered probation system, improvements will be made to on-site treatment. The pilot program for the so-called Integrated Juvenile Justice Agency, currently running in Seoul, Gwangju, and Ansan, separates adults and juveniles to provide treatment tailored to the characteristics of youth through community multi-agency collaboration. Based on the results of this pilot, the program is set to expand nationwide next year.To fundamentally address juvenile offenses, which are influenced by personal factors such as mental illness and family environment, as well as social and environmental factors, the Justice Ministry will implement a customized recidivism prevention process known as the K-Youth Crime Prevention Policy. This will include diagnosis, intervention, rehabilitation, and aftercare, with a focus on closely managing chronically delinquent youth through community multi-agency cooperation.Recognizing that delinquent behavior often occurs at night, the ministry is developing a supervisory device in the form of a smartwatch to limit nighttime outings for juveniles. Long-term plans also include the development of a comprehensive analysis system for juvenile crime that utilizes AI-based data analysis to assess risk levels and suggest intervention measures.According to the Justice Ministry, the number of juvenile offenders under probation increased from 703 (5.2%) out of 13,489 in 2020 to 1,535 (10.6%) out of 14,474 in 2024. Similarly, the proportion of juvenile offenders in correctional facilities rose from 51 (3.1%) out of 1,637 in 2020 to 148 (6.1%) out of 2,430 in 2024.As of last year, the recidivism rate for juveniles on probation was 12.3%, nearly three times higher than the 3.9% rate for adults.Minister Jeong Seong-ho stated, "There has been a lack of infrastructure for policy implementation compared to the attention given to juvenile crime. We will establish a professional system capable of effectively preventing juvenile crime and implement the K-Youth Crime Prevention Policy to address the complex factors behind youth offending."* This article has been translated by AI. 2026-06-09 17:51:00

Goldman Sachs and JP Morgan Consider Launching GPU Rental Futures Amid Soaring Prices As the global artificial intelligence (AI) boom drives graphic processing unit (GPU) prices to unprecedented levels, Goldman Sachs and JP Morgan are reportedly exploring the launch of GPU-linked futures products. On June 9, U.S. fintech publication PYMNTS cited The Information, an American IT media outlet, stating that the two banks are considering futures contracts tied to GPU rental prices. According to the report, the banks are examining various ways to trade not only GPU rental costs but also computing expenses. However, discussions are still in the early stages, and there is a possibility that they may not lead to actual product launches or market openings. The competition to develop AI models has intensified recently, making the computing costs associated with high-performance GPUs, such as Nvidia's Blackwell, a significant expense for major tech and AI companies. As a result, interest in financial products that can help manage the volatility of GPU purchase and rental prices is growing. While Nvidia's GPU prices are not officially disclosed, the H100 is estimated to range from $25,000 to $40,000, and the B200 is reported to be between $30,000 and $50,000. Additionally, GPU rental brokerage site VAST.AI indicates that the average rental price per hour for the H100 SXM is $2.33, while the B200 averages $4.22. PYMNTS noted that if an official market based on GPU rental prices is established, companies could manage computing cost volatility more systematically. However, challenges remain regarding how to establish reliable price benchmarks and whether related financial products can pass regulatory scrutiny. This concept is already showing early trading examples. PYMNTS reported that inter-institutional trades have occurred based on the Ornn Compute Price Index, which tracks Nvidia's H100 GPU rental rates. This is seen as an initial attempt to index AI computing costs for actual trading purposes. However, experts point out that for computing power to be traded as a financial product like oil or electricity, a reliable price index and sufficient trading volume must be established. PYMNTS believes that the emergence of additional price indices, participation from exchanges and clearinghouses, and regulatory decisions will be crucial in the future.* This article has been translated by AI. 2026-06-09 17:51:00

South Korea to Support Employment Improvements in Developing Countries with $166 Million The South Korean government has announced plans to enhance cooperation with the International Labour Organization (ILO) to expand quality jobs in developing countries. On June 8, during a reception at the Mandarin Hotel in Geneva, Switzerland, the Ministry of Employment and Labor hosted the "Korea-ILO Partnership Reception" in conjunction with the 114th ILO General Conference. The event aimed to share the achievements of the ministry, the ILO, and beneficiary countries from their collaborative projects. Initiated in 2004, the Korea-ILO partnership focuses on international development cooperation by leveraging South Korea's expertise in employment and labor policy. The initiative supports improvements in labor standards and the capacity to implement international labor standards in developing nations. From 2024 to 2026, a total of $11.95 million (approximately 166 billion won) will be allocated to this effort, placing South Korea as the 13th largest contributor among ILO member countries. The funding will support ten projects, five each in the ILO headquarters and the Asia-Pacific region, targeting countries such as Cambodia, Paraguay, Vietnam, and Mongolia. The projects will focus on integrating older workers into the labor market, enhancing youth employment, improving industrial safety, and fostering social dialogue. South Korea's experience in labor market development is highly regarded internationally. The country has successfully reduced industrial accidents, expanded vocational training, and established a robust employment service system during its industrialization. Recently, it has also developed policies to address digital transformation and an aging population. Many labor market challenges faced by developing countries mirror those that South Korea encountered in the past, including youth unemployment, the expansion of informal labor markets, industrial accidents, and insufficient vocational training systems. As a result, there is growing interest in South Korea's employment services and vocational training models. The Ministry of Employment and Labor plans to strengthen the tripartite partnership among South Korea, the ILO, and beneficiary countries to enhance the effectiveness of the cooperation projects and better reflect the needs of the recipient nations. Laura Thompson, Deputy Director-General of the ILO, stated, "South Korea has been a vital and consistent development cooperation partner through the Korea-ILO partnership over the past 22 years. We have been able to achieve tangible results that respond to policy needs in areas such as youth employment, industrial safety, and skills development." Cambodia's Minister of Labor and Vocational Training, Heng Sour, remarked, "The Korea-ILO partnership has brought meaningful changes to the lives of Cambodian workers and has significantly contributed to strengthening our social protection system, enhancing occupational safety and health, and improving social dialogue and labor administration capabilities." Minister Kim Young-hoon emphasized, "The South Korean government will continue to strengthen practical cooperation in various areas needed by beneficiary countries, including expanding quality youth jobs, creating safe workplaces, and enhancing employment service capabilities, in collaboration with the ILO and recipient nations."* This article has been translated by AI. 2026-06-09 17:48:00

Eunma Apartment Reconstruction Project Seeks Approval for Relocation Next Summer The Eunma Apartment in Daechi-dong, a symbol of reconstruction in Seoul's Gangnam district, has completed its application for project approval and is accelerating plans for relocation next year. The association is considering starting the relocation as early as next summer break, following the approval of the project implementation. According to the construction industry on June 9, the Eunma Apartment reconstruction association recently submitted its project implementation application to the Gangnam District Office. Having passed the integrated review by the Seoul city government in February, the project has now entered the implementation phase, marking a significant step forward. The complex, located in the 316 area of Daechi-dong, consists of 4,424 units and is set to transform into a large-scale development of up to 5,893 units with heights reaching 49 stories. In a phone interview, a representative from the Eunma Apartment association stated, "We have submitted the project implementation application and are currently awaiting approval from the Gangnam District Office." The representative added, "Once we receive the approval, our goal is to obtain the management disposal approval as quickly as possible," noting that delays often occur during this phase of the project. The association aims to facilitate relocation by next year. The association is particularly considering the academic calendar in its relocation plans. The representative explained, "Our tentative goal is to start relocation during the summer break and complete it by the winter break," emphasizing the need to minimize the impact on education in the student-populated Daechi-dong area. The scale of the project is also expected to exceed initial estimates. The association anticipates that the total project cost will surpass the previously discussed range of 4 trillion to 5 trillion won, likely exceeding 5 trillion won. Currently, the possibility of changing the construction company appears low. The representative mentioned, "While there have been discussions about changing the construction company, many association members believe it is better to maintain the existing system to expedite the project." Concerns about potential delays due to additional procedures and lawsuits if a new contractor is selected have been raised. He added, "Given that discussions about reconstruction have been ongoing for nearly 30 years, association members are now more focused on advancing the project quickly rather than creating unnecessary conflicts," noting that members are actively participating in the process, strengthening internal cohesion. The Eunma Apartment, completed in 1979, is a representative aging apartment complex in the Gangnam area. Discussions about its reconstruction began in the late 1990s but have faced delays due to various regulations and changes in project methods. Previously, in 2002, a consortium of Samsung C&T and GS Engineering & Construction was selected as the construction company. Go Jun-seok, a professor at Yonsei University's Sangnam Institute of Management, stated, "Daechi-dong has a high demand for housing and is the most preferred area for educational districts in Gangnam. The Eunma Apartment is considered a key site for reconstruction in Daechi-dong, and its large size and high proportion of medium to large units enhance its project viability." 2026-06-09 17:42:00