Lunit and Vuno Face Critical Year Amid Rapid Growth in Medical AI The medical artificial intelligence (AI) market is experiencing explosive growth, with industry leaders Lunit and Vuno facing a pivotal year to prove their performance. While the number of related approvals in the market has surged, concerns remain about the financial stability and international commercialization success of these frontrunners.According to data from the Ministry of Food and Drug Safety, the number of approvals, certifications, and notifications for AI-based software medical devices increased from 62 in 2023 to 108 in 2024 and 157 in 2025, marking a 2.5-fold rise over three years. This growth is significant compared to just four approvals in 2018, 13 in 2019, and 50 in 2020, indicating a substantial application of these technologies in clinical settings. In the first quarter of this year alone, an additional 55 approvals were recorded, continuing the upward trend.Amid this rapid market expansion, Lunit and Vuno are grappling with financial risks and challenges related to overseas approvals, which have become their primary obstacles this year.Lunit reported record annual sales of 83.1 billion won last year and has set a target of over 80 billion won in sales for this year. The company aims to achieve profitability by 2027 and is working to create a revenue structure through expanding global partnerships and offering high-margin subscription-based (SaaS) products that charge monthly fees based on usage.Despite recent financial risk concerns, Lunit alleviated some anxiety by successfully completing a capital increase. The company achieved a subscription rate of 104.7% from existing shareholders in a capital increase worth 211.5 billion won, effectively securing capital and boosting expectations for financial stability. Lunit believes it has laid the groundwork to reduce the debt burden that increased due to the acquisition of Bolpara. Market attention is now focused on Lunit's potential for profitability this year.In contrast, Vuno reported sales of 34.8 billion won last year, with an operating loss of 4.9 billion won. While its revenue has grown and losses have decreased, the company faced a setback when its key product, VunoMed DeepCARS, received a Not Substantially Equivalent (NSE) determination from the FDA for its 510(k) application, presenting a significant challenge. Vuno plans to reinforce its clinical and performance data for a resubmission, but this has delayed its initial timeline.The recent FDA decision has particularly painful implications, as it effectively means missing the entry point for the 2027 fiscal year NTAP. Given the structure requiring FDA approval and entry into U.S. public insurance, any delays in reimbursement schedules could slow the pace of business expansion, according to market observers. Vuno is preparing for resubmission while diversifying into Europe and the Middle East, but this year's performance of DeepCARS is expected to be a critical turning point for the company's valuation.Vuno CEO Lee Ye-ha stated on the company's website on May 4, "This FDA decision does not negate the core technology or clinical value of DeepCARS." He added, "It should be interpreted as a request for additional evidence of equivalence with existing products," emphasizing that the process has clarified the clinical standards and expectations in the U.S. market, and the company plans to quickly reorganize its clinical data for resubmission.Despite Lee's reassurances, Vuno's stock has plummeted following the FDA's decision, dropping more than 20% immediately after the announcement on May 4. As of 10:15 a.m. on May 11, the stock price had fallen to 12,240 won, a decline of about 30% in just one week.Industry insiders noted, "Lunit must prove its profitability based on capital expansion, while Vuno faces the challenge of reapplying for U.S. approval and redesigning its NTAP strategy to rebuild its growth narrative."* This article has been translated by AI. 2026-05-11 10:52:25

Jeong Cheong-rae: Gangwon Province Will Become a Leader in South Korea's New Era The Democratic Party emphasized on May 11 that "Gangwon Province will no longer be a periphery but will become a leading player in a new era for South Korea." At a field meeting of the Central Election Committee held in Chuncheon, Jeong Cheong-rae, the head of the committee, expressed confidence that voters would respond positively to the efforts of the Democratic Party and the Lee Jae-myung administration. He added, "We must establish local governments that work as effectively as President Lee Jae-myung to pave the way for a national leap forward." Jeong noted that President Lee promised to ensure that living in Gangwon Province would not be a disadvantage, stating that Woo Sang-ho, the Democratic Party candidate, is the right person for the province. Woo remarked, "This election is a historic opportunity for South Korea to transition to a local era," asserting that only if Democratic Party candidates are elected can successful nationwide balanced development be achieved. He also pledged to attract advanced corporations to Gangwon Province and create quality jobs to prevent young people from leaving. Meanwhile, the Democratic Party transitioned to a campaign committee structure after launching the 'National Normalization Election Committee' in the National Assembly the previous day. Jeong leads the committee, which includes Han Byeong-do, the floor leader, former Chungbuk Governor Lee Si-jong, WHO advisor Ahn Seon-ha, Daegu citizen and surgeon Geum Hee-jeong, and naturalized Korean citizen from Myanmar, Yvonne Ahn, who serves as a committee advisor. On this day, Yoo Chung-won was also appointed as a co-chair of the committee. Jeong introduced Yoo as a citizen who stood against armored vehicles during the emergency martial law on December 3.* This article has been translated by AI. 2026-05-11 10:51:10

Small Business Agency Receives Prime Minister's Award for Policy Communication The Small Business Market Promotion Agency was recognized with a Prime Minister's Award for Policy Communication at the 2025 Policy Communication Awards hosted by the Ministry of Culture, Sports and Tourism. According to the agency on May 11, it has completely overhauled its policy communication system to successfully implement key national tasks, including enhancing public communication, promoting inclusive finance, and revitalizing small businesses and local markets. The agency has focused on improving customer understanding through simplified language in its promotions and strengthened on-site communication. It has also established outreach policy briefings and regional cooperation systems to enhance accessibility to its policies. Additionally, it has disseminated major initiatives such as special support for electricity bills, win-win paybacks, and improvements to policy funding through public-private partnerships and multi-channel promotions. Furthermore, the agency has initiated a digital transformation in policy communication by establishing digital platforms like 'Small Business 24' and 'Small Business 365,' which integrate policy information and application procedures while providing data-driven, customized services. The agency is also committed to enhancing transparency and the effectiveness of policy execution. In February, it held a workshop for over 110 regional heads, center directors, and mid-level managers to share execution strategies and current issues related to key projects such as traditional markets, small business support, policy research, and financial stability, thereby strengthening collaborative efforts across the organization. Kim Tae-yeon, the agency's director, stated, "We will continue to strengthen communication at the grassroots level with small businesses and do our utmost to ensure that the public can feel the results of our policies."* This article has been translated by AI. 2026-05-11 10:49:45

K-AI Integrates into Daily Life with Practical Services Domestic artificial intelligence (AI) companies are accelerating the integration of proprietary AI models into practical services across various sectors, including communication, translation, education, and finance. This shift goes beyond mere technological development, contributing to the establishment of a 'K-AI ecosystem' that citizens can experience firsthand. The Ministry of Science and ICT unveiled K-AI case studies centered around companies participating in the Independent AI Foundation (독파모) on May 11. LG AI Research and LG Uplus have applied the AI model 'EXAONE' to the lifestyle-oriented AI agent 'ixi-O.' ixi-O offers features such as context-based call summaries and real-time detection of potential voice phishing risks. Lee Min-hyung, a senior official at LG Uplus, stated, "ixi-O has evolved beyond simple transcription to understand conversation context and suggest subsequent actions. We aim to contribute to social safety by addressing the increasingly sophisticated methods of voice phishing." Kim Yoo-cheol, head of strategy at LG AI Research, emphasized the significance of EXAONE becoming closer to the daily lives of citizens through ixi-O, stating, "The moment technology seamlessly integrates into people's lives is when the most refined AI emerges." Upstage and Flitto have implemented their proprietary AI model 'Solar Open' in real-time AI translation services. The two companies plan to enhance translation quality and processing speed while expanding real-world applications of domestic AI technology. SK Telecom (SKT) is targeting the future mobility market with its vehicle AI agent 'A.X Auto,' based on its proprietary AI model 'A.X.' A.X Auto supports voice-only navigation, music playback, vehicle control, and information searches. SKT intends to broaden the application of AI agents across various industries in the future. Motif Technologies and Mathpresso are working to apply their proprietary AI model to the math learning service 'QANDA.' The focus is on supporting self-directed learning by analyzing and explaining students' problem-solving processes step by step. Lee Sung-min, head of the AI group at Motif Technologies, explained, "We are focused on implementing human thought processes rather than just simple calculations, and we expect it to serve as an AI learning mentor that fosters students' critical thinking skills." Naver Cloud has supplied the Bank of Korea with a finance and economics-specialized generative AI platform called 'BOKI (Bank of Korea Intelligence).' This platform supports data retrieval, summarization, Q&A, and economic issue analysis, marking it as the first instance of a generative AI platform being implemented among central banks worldwide. The Ministry of Science and ICT plans to conduct a second-stage evaluation of the Independent AI Foundation in August, focusing on global benchmark performance and enhancing the scoring for technological independence. 2026-05-11 10:48:20

Democratic Party Launches Election Committee Ahead of Local Elections The Democratic Party of Korea has officially launched its election campaign committee in preparation for the June 3 local elections. Jeong Cheong-rae, the chair of the committee, emphasized the message of "high goals, low posture." While this call for humility is common in political rhetoric before elections, its significance is particularly weighty this time. Voter expectations are higher than ever, with a clear shift towards valuing results over rhetoric. The Democratic Party views this local election as a crucial turning point for the administration of Lee Jae-myung. The party believes that the efficiency of national governance can be maximized when central and local governments are policy-wise interconnected. The '5 Extremes and 3 Specialties' strategy, proposed as part of the national balanced development plan, will also be difficult to realize without cooperation from local authorities. Thus, this local election transcends mere regional power restructuring and plays a pivotal role in driving national policy. The Democratic Party's decision to streamline its central organization while strengthening regional structures reflects this understanding. It signals a commitment to shift the focus of the election from central politics to local realities. In fact, local elections are heavily characterized by competition over how to improve regional economies and living conditions. Voters tend to prioritize tangible changes over grand narratives. The challenge lies not in the strategic direction but in its substance. More important than how the organization is structured is what policies and candidates will be put forward. Local governments are not merely auxiliary bodies of the central government; they are independent administrative entities. Remaining solely in a supportive role for the ruling party will not garner voter support. Tailored policies that consider the diverse economic situations, population structures, and industrial bases of each region must be presented. The framing of the election is another critical factor. The Democratic Party interprets this election as a battle for the defense of democracy and political accountability. While this perspective holds some significance, it diverges from the essence of local elections. The issues that local voters face are related to jobs, housing, transportation, and education—practical matters of daily life. Political slogans alone cannot substitute for these demands. The message should be simple, but the content must be specific. Ultimately, the core of the election is about practical politics. Key issues include how to revitalize the local economy, improve the lives of young people and small business owners, and address structural challenges such as population decline and industrial transition. While cooperation with the central government is necessary, failing to explain how it will bring about changes in the lives of local residents will diminish its persuasiveness. Candidate competitiveness is also a significant variable. The Democratic Party has included individuals from diverse backgrounds in its committee, emphasizing "diversity and innovation." However, what is evaluated in elections is not symbolism but the ability to execute. Without verification of administrative experience, policy understanding, and moral integrity, the message will lose its impact. Voters no longer choose based solely on party affiliation. The political environment also plays a role. In a context of heightened confrontation between the ruling and opposition parties, elections can easily devolve into partisan battles. However, approaching local elections in the same manner is not advisable. Local administration requires cooperation and coordination. If excessive confrontation is established during the election process, it may lead to burdens in administrative operations afterward. What is required in this election is balance. There must be equilibrium between central and local, politics and administration, message and policy. Leaning too far in one direction can obscure the essence of the election. Particularly for the ruling party, it is essential to recognize that the weight of responsibility increases with the size of authority. Jeong Cheong-rae's emphasis on "humility" ultimately connects to the attitude toward power. Humility must be proven through actions, not just words. A structure that accommodates diverse opinions in the policy-making process and genuinely reflects local voices must be created. Only then can trust in politics be enhanced. While time is short, there is still enough to set a direction. What matters is not speed but substance. Elections are not just temporary events; they are processes that determine the future of regions. When the messages put forth by the Democratic Party translate into actual policies and actions, voter evaluations may change. Ultimately, this local election will be judged not by slogans but by capabilities.* This article has been translated by AI. 2026-05-11 10:42:55

Lotte Shopping Reports 70% Surge in Q1 Operating Profit Driven by Foreign Tourists Lotte Shopping reported a significant increase in its first-quarter performance, driven by growth in its department store segment. The surge in spending by foreign tourists, particularly in Myeongdong, along with high-margin fashion sales, contributed to a more than 70% rise in operating profit. The company also noted improvements in its profitability efforts and strong performance in overseas markets, including Vietnam. On May 11, Lotte Shopping announced that its consolidated operating profit for the first quarter reached 252.9 billion won, marking a 70.6% increase compared to the same period last year. Revenue rose by 3.6% to 3.5816 trillion won, while net profit skyrocketed by 694.1% to 143.9 billion won, exceeding market expectations. The department store division was the standout performer, with first-quarter sales of 872.3 billion won and operating profit of 191.2 billion won, representing growth of 8.2% and 47.1%, respectively, from the previous year. Domestic sales from major stores, including the flagship store, Jamsil, and Busan, increased by 19%, while sales to foreign tourists surged by 92%, contributing to a 13% increase in same-store sales. Notably, sales from the flagship store to foreign customers more than doubled, increasing by 103% year-on-year, and accounted for 23% of total sales, driving overall performance improvements. Additionally, strong sales of high-margin fashion products led to a 43.5% increase in operating profit compared to the same period last year. The overseas department store segment also showed positive trends, with total sales rising across all locations, including a 28% increase in Vietnam and a 7% increase in Indonesia. The Lotte Mall Westlake Hanoi achieved a record operating profit of 4.9 billion won in the first quarter. Consequently, overseas sales reached 35.5 billion won, up 14.7% from the previous year, with operating profit soaring by 268.7% to 7.6 billion won. Looking ahead to the second quarter, the department store division plans to continue attracting foreign customers by specializing in K-content-based product planning and marketing, particularly at the flagship and Jamsil locations. The supermarket division, which operates Lotte Mart, reported first-quarter sales of 1.5256 trillion won, a 2.6% increase from the previous year, with operating profit rising by 20.2% to 33.8 billion won, reflecting a focus on profitability. Domestic supermarkets benefited from efficient promotions and a reduction in operating expenses, achieving a 30.9% increase in operating profit to 8.8 billion won compared to the same period last year. The overseas business also performed well, particularly in Vietnam, with total sales reaching 485 billion won and operating profit of 25 billion won, representing increases of 3.4% and 16.8%, respectively, from the previous year. The Vietnamese market showed an impressive growth rate of 18%, driving overall improvements in overseas performance. The supermarket division aims to enhance brand competitiveness and customer attraction through innovations in fresh food quality, strengthening private brand offerings, and regular promotions like 'Big Day.' In the online sector, the launch of the 'Zeta Smart Center Busan' utilizing Ocado's Smart Platform (OSP) aims to bolster competitiveness in the grocery market. The company also plans to continue expanding in the Vietnamese market with new store openings and renovations of existing locations. Among its subsidiaries, Lotte Home Shopping reported a 2.1% increase in sales to 232.4 billion won, with operating profit rising by 118.6% to 26.4 billion won, driven by a portfolio focused on high-margin products like health and beauty items, and an expansion of content commerce through social media. Culture Works, responsible for the film business, saw a 49.2% increase in cinema attendance due to the success of the film 'The King and the Clown,' which became the second-highest-grossing film in South Korea's history. This resulted in an operating profit of 7.9 billion won and a 44.4% increase in revenue to 124.6 billion won. In contrast, the electronics retail division, Lotte Hi-Mart, faced challenges due to a downturn in the electronics market and a sluggish real estate sector, reporting an operating loss of 14.7 billion won in the first quarter, widening its losses compared to the previous year. The e-commerce division also reduced its losses by 2.7 billion won compared to the previous year, but still recorded an operating loss of 5.8 billion won in the first quarter. Im Jae-cheol, head of Lotte Shopping's finance division, stated, "In the first quarter of this year, we achieved remarkable results based on the solid performance of our department stores and the profitability improvements of our subsidiaries. We will continue to strengthen the fundamental competitiveness of our domestic business and solidify sustainable growth through overseas expansion."* This article has been translated by AI. 2026-05-11 10:39:40

US treasury secretary to visit Seoul ahead of Trump's Beijing summit with Xi SEOUL, May 11 (AJP) - U.S. Treasury Secretary Scott Bessent will visit Seoul later this week, just ahead of U.S. President Donald Trump's visit to Beijing for a summit with Chinese President Xi Jinping. "I will depart on Monday for a quick series of meetings in both Japan and South Korea," Bessent said in a post on X, formerly Twitter. He added, "I will stop in Seoul" on Wednesday before heading to Beijing for Trump's summit with Xi Jinping scheduled for Thursday and Friday. During his three-nation trip, Bessent is expected to discuss a wide range of economic issues in meetings with financial officials including his South Korean counterpart Koo Yun-cheol and others. He said, "Economic security is national security, and I look forward to a productive series of engagements as we work to advance America First Economic Agenda." Before arriving in Seoul, he will meet Japanese Prime Minister Sanae Takaichi in Tokyo on Tuesday, along with other government officials as well as "private sector representatives for discussions on the U.S.-Japan economic relationship." 2026-05-11 10:35:00

Trump Rejects Iran's Response to US Peace Proposal President Donald Trump has stated that he cannot accept Iran's response to the U.S. proposal for ending hostilities, while Iran has pushed back, asserting that its proposal was not intended to please the U.S. leader. On May 10, Trump expressed his dissatisfaction via social media platform Truth Social, saying, "I just read the response from Iran's so-called 'representatives.' I do not like it. It is completely unacceptable." However, he did not specify which aspects of the Iranian response he found unacceptable. Last week, the U.S. sent a proposal to Iran aimed at ending the conflict. Trump mentioned on May 8 that he expected to receive a letter that night, but Iranian state news agency IRNA reported on May 10 that Iran had communicated its response to the U.S. through the mediator, Pakistan. Details of the Iranian response have been reported differently by various sources. The Wall Street Journal (WSJ), citing informed sources, reported that Iran proposed a ceasefire and a gradual resumption of commercial navigation in the Strait of Hormuz, while demanding the lifting of U.S. sanctions on Iranian vessels and ports. In contrast, the Iranian semi-official Tasnim news agency disputed the WSJ's account, claiming that Iran's response emphasized an immediate end to the war, a guarantee against further U.S. attacks, the lifting of sanctions, and a cessation of hostilities across all fronts. The source also stated that the U.S. maritime blockade against Iran should end immediately following the initial agreement, and sanctions related to the sale of Iranian oil should be lifted within 30 days. Additionally, Tasnim reported that Iran's response included demands for the release of frozen Iranian assets abroad and the implementation of certain U.S. measures within 30 days. Iran: Proposal Not Written to Please Trump Iran has reacted to Trump's rejection of its proposal. According to Tasnim, another informed source stated, "No one in Iran writes proposals to please Trump," asserting that the Iranian negotiating team bases its plans solely on the rights of the Iranian people. The source added that if Trump is not satisfied with Iran's proposal, "then that is certainly a good thing." The source also claimed that Trump is refusing to accept reality, which is why he continues to face defeats in Iran. Meanwhile, media outlets linked to the Islamic Revolutionary Guard Corps (IRGC) have suggested that the Strait of Hormuz should be utilized not only as an energy and shipping chokepoint but also as a digital leverage tool. Tasnim reported that over $10 trillion in financial transactions occur daily through undersea fiber optic cables in the Strait, asserting that Iran must secure economic and sovereign benefits from this infrastructure. They proposed imposing licensing fees and annual renewal fees on foreign companies and insisted that major tech firms operate in accordance with Iranian law. Another IRGC-affiliated outlet, Fars News, echoed similar sentiments, stating that over 99% of international internet communications occur via undersea cables and that Iranian companies should manage the maintenance and repair of cables passing through the Strait. Fars noted that Iran could require permits and tolls for vessels passing through the Strait, thereby transforming it into a tool of digital power for Iran. This indicates Iran's intention to impose tolls on vessels traversing the Strait of Hormuz while seeking additional revenue generation from this strategic waterway. 2026-05-11 10:34:46

Young Investor Turns 26 Million Won from Samsung Stock, While Another Regrets Selling As semiconductor stocks continue to rise, a 1992-born office worker has gained attention for turning her investments into assets worth over 2.6 billion won (approximately $2 million) in just six years. In a recent post on the anonymous workplace community "Blind," a woman identified as A shared her experience as a "six-year stock investor," expressing her astonishment at surpassing 2 billion won in assets. A reported her total investment assets at approximately 2.6455 billion won, with domestic stocks valued at 1.996 billion won and a return of 153.14%. Her overseas stock assets amounted to 570.9 million won, yielding a return of 70.84%. She stated, "I kept two separate ledgers to grow my seed capital. The significant boost came when I started buying Samsung Electronics' HBM (High Bandwidth Memory) and foundry stocks after their prices plummeted in 2024." A added, "I never sold a single share of the semiconductor stocks I bought. Over six years, my realized gains included an initial investment of about 500 million won. Coming from a 'dirt spoon' background, I don't have wealthy friends to share my success with, so I posted in this community to find others who understand my journey." In contrast, another story emerged from a worker at an accounting firm, identified as B, who regretted selling all his Samsung Electronics shares last October to purchase a newlywed home. He sold his stocks to buy a house priced at 1.8 billion won but now feels remorseful. B explained that he liquidated his Samsung shares, worth about 500 million won, to afford the apartment in Mapo, Seoul. He stated, "To buy the house, I borrowed 900 million won, including a negative bank account and help from my parents. Although the house price has increased by about 100 million won since then, if I had held onto my Samsung shares, their current value would be around 2 billion won." B lamented, "If I had just held on, I would have had 2 billion won without any debt." He also mentioned that excluding the money borrowed from his parents, he is paying about 3.8 million won monthly for a loan of 700 million won. B expressed his frustration, saying, "Even with a monthly net salary of 6.5 million won, I am left with only 2.7 million won after loan repayments, which is a miserable and infuriating situation." Reactions from netizens to these contrasting stories included comments like, "I believe there are about 100,000 people in Korea who missed out on similar opportunities as B," and "If stocks hadn't risen, people would have been happy about rising house prices." Meanwhile, as of 9:30 a.m. on May 11, Samsung Electronics and SK Hynix both reached record highs in early trading. Samsung Electronics traded at 286,000 won, up 6.52%, and briefly hit a record high of 286,500 won. SK Hynix surged 9.91% to 1,853,000 won, reaching an intraday high of 1,859,000 won. According to the Korea Exchange, Samsung Electronics received the highest number of individual orders last month, totaling 204,025, while SK Hynix had 142,668 orders, reflecting expectations for a prolonged boom in the memory sector.* This article has been translated by AI. 2026-05-11 10:30:13

Trump to Visit China from May 13 to 15 at Xi Jinping's Invitation President Donald Trump will make a state visit to China from May 13 to 15 at the invitation of Chinese President Xi Jinping, the Chinese Foreign Ministry announced on May 11. The White House also confirmed on May 10 that Trump will visit China during this period. According to the announcement, Trump is scheduled to arrive in Beijing on the evening of May 13, hold a bilateral summit with President Xi on May 14, and tour the Temple of Heaven in Beijing before attending a state dinner. On the final day of his visit, May 15, Trump plans to have a private tea time and a working lunch with Xi, the White House stated. Ahead of the US-China summit, senior trade representatives from both countries are expected to meet in South Korea on May 13. U.S. Treasury Secretary Scott Vezent announced on his X (formerly Twitter) account that he will visit Japan and South Korea for a series of meetings ahead of Trump's historic summit with Xi in Beijing. Vezent is scheduled to visit Japan on May 12 and South Korea on May 13, where he will meet with Chinese Vice Premier He Lifeng. 2026-05-11 10:24:16