Former KB Securities CEO Park Jung-rim: 'Finance is a People Industry' Park Jung-rim, the first female CEO in South Korea's securities industry, is more than just a record-holder. With extensive experience across banking, insurance, and securities, she is a rare leader who has driven both organizational culture innovation and capital market expansion.Park defines finance not as an industry of numbers but as one of people. She emphasizes that without trust among customers, employees, and market participants, no financial institution can sustain itself. During her tenure as CEO, she focused on restructuring communication within the organization and fostering a horizontal culture. She likened the essence of the securities industry to a 'hunting society,' constantly seeking opportunities.Her leadership is particularly marked by her approach to decision-making. She describes the CEO role as the 'final stop for decision-making,' asserting that procrastination is the worst form of leadership. She believes that correcting a wrong decision quickly is more important than avoiding mistakes altogether, and she led her organization with a focus on positive energy and resilience.Although Park has stepped back from frontline management, her messages about the financial industry and organizational leadership remain relevant. In an era of crisis and change, she poses a simple question: 'Are you making decisions now?' Having worked across banking, insurance, and securities, how has this experience influenced your decision-making as a CEO?'Having experience in multiple fields allows for a much more nuanced judgment. While the financial sectors may seem distinct, they are actually closely interconnected. Understanding cash flow from banking, risk structures from insurance, and market perspectives from securities has enabled me to make more comprehensive decisions.'You made history as the first female CEO in South Korea's securities industry. What was your driving force?'Personally, I believe a willingness to embrace new challenges was crucial. I had the determination to take risks and a tendency not to give up easily. However, more importantly, I had leaders who provided opportunities. No matter how capable one is, without being given a chance, one cannot reach that position. Chairman Yoon Jong-kyu's decision to appoint me without bias was a pivotal moment. Ultimately, I believe that individual effort and organizational opportunity must align to create a leader.'You referred to the securities industry as a 'hunting society.' Can you elaborate?'In banking, customers come to you. It operates more like an 'agricultural society' based on stable foundations. In contrast, securities require actively seeking out customers. One must read the market and discover opportunities, which is why I described it as a 'hunting society.' While there have been some changes, the essence remains the same: the securities industry must be proactive.'What is your secret to maintaining both approachability and strictness in leadership?'Maintaining strictness is relatively easy; you set standards and demand adherence. However, approachability requires intentional effort. I believed that creating a horizontal organizational culture was the CEO's most important role. For an organization to be healthy, employees must feel free to express their opinions. Therefore, I prioritized small group discussions over town hall meetings, meeting with lower-ranking employees to uncover hidden issues within the organization.'What do you consider the core competency of a CEO?'People are everything. Ultimately, organizations are driven by people. The ability to place talent in the right positions is crucial. It’s important not only to select experienced individuals but also to identify those who have the potential to excel in new roles. Organizations grow when new energy is introduced.'What principle do you prioritize in decision-making?'I focus on separating emotion from judgment. I avoided making decisions when I was angry. I also steered clear of making decisions at night, as emotions can be exaggerated. Taking a day to reflect allows for much more objective decisions.'You mentioned that the CEO is the 'final stop for decision-making.''The CEO is responsible for making the final decisions, which comes with significant accountability. However, the worst kind of leader is one who fails to make decisions. If a leader only contemplates without taking action, the organization stagnates. It’s crucial to make decisions and quickly correct any mistakes to minimize organizational losses.'You emphasized the importance of positive energy.'Organizations look to their leaders. In times of crisis, if a leader wavers, the entire organization is affected. Positive energy is not just an attitude; it’s a strategy. Creating an atmosphere of 'let's try' is essential for organizational movement. It’s also important to give employees who have failed another chance. If people fear failure, no one will take risks.'How do you view the role of securities in the financial market?'The center of the capital market is increasingly shifting toward securities. Companies no longer rely solely on bank loans. They are raising funds through various means, including bond issuance, stock markets, and direct investments. Securities firms play a key role in connecting these processes, and their importance will only grow.'What do you see as the risks in the financial sector?'While the market may appear favorable on the surface, there can be underlying credit risks. Risks may arise, particularly in areas like leveraged investments or private loans. It’s always important to manage the unseen risks.'You have emphasized the importance of female leadership and diversity.'Organizations must have diversity to be healthy. A group with only one perspective is dangerous. Conflicting opinions can lead to better outcomes. It’s essential to have a certain level of female executives to voice opinions. I believe at least 30% is necessary.'What advice would you give to aspiring female leaders?'When opportunities arise, you must take the challenge. Just because you haven't done something before doesn't mean you can't do it. I also hope you won't only choose the easy path. Someone has to pave the way for the next person to follow.'* This article has been translated by AI. 2026-05-10 07:57:33

The Future of Jeollabuk-do Begins with Connecting Jeonju and Gimje Jeollabuk-do is currently facing a demand for new growth strategies. Issues such as population decline, youth outflow, and weakening industrial foundations are not confined to specific cities or counties. These are structural challenges that cannot be resolved by any single city alone. The development strategy for Jeollabuk-do should focus on inter-city connectivity and functional distribution rather than individual city competition. In particular, the strategy of linking Jeonju and Gimje into a single living and industrial zone, while connecting it to the Saemangeum economic zone, represents the most realistic growth path for the region. Jeonju serves as a central city with concentrated administrative, educational, research and development, medical, and cultural functions, but it faces limitations in industrial space and expansion. Conversely, Gimje has a vast industrial and logistics hinterland but relatively weak population and residential foundations. Therefore, the integration of Jeonju and Gimje should be viewed as a strategic partnership that goes beyond mere administrative adjustments, aiming to complement each city's functional limitations and establish a competitive metropolitan living economy. As of April 2026, the combined population of Jeonju and Gimje is approximately 704,000. This demographic foundation indicates that Jeollabuk-do can be restructured into a single living economic zone with shared labor markets, consumer markets, residential bases, and administrative capabilities, moving beyond fragmented competition among individual municipalities. However, regional growth will not occur automatically through administrative integration. The key lies in organically connecting Jeonju's research, education, medical, and service functions with Gimje's industrial land and agricultural bio-foundations, as well as the logistics, energy, and advanced industry functions of Saemangeum, to operate effectively within a single urban area. To attract businesses, a comprehensive strategy that integrates industrial sites, logistics, workforce, and residential environments is necessary. Hyundai Motor Group's investment agreement of 9 trillion won in Saemangeum serves as a pivotal moment for reconsidering Jeollabuk-do's development strategy. Plans for an AI data center, a robotics manufacturing and parts cluster, an electrolyzer plant, solar power generation, and an AI hydrogen city are not merely about attracting factories; they aim to create a future industrial ecosystem that combines artificial intelligence, robotics, hydrogen, and energy. For this investment to translate into local economic benefits, the industrial demands of Saemangeum must be linked to the spatial resources of Gimje and the workforce, education, research and development, and living services of Jeonju. Focusing solely on the investment amount will not lead to growth that residents can feel. Thus, for sustainable growth in Jeollabuk-do, it is essential to adopt an endogenous development strategy that does not solely rely on central government support or attracting large corporations. This strategy should focus on attracting external investments while transforming local resources and capabilities into growth drivers. It is crucial to connect the agricultural bio-food industry, universities and research institutions, businesses, and the supporting functions of Saemangeum, while also transitioning agriculture into a high-value-added industry through smart agriculture, food tech, and biotechnology. The goals of policies should not be limited to attracting investments. Performance should be evaluated based on indicators that connect to residents' lives, such as local employment rates, procurement rates for local businesses, youth settlement rates, women's reemployment rates, and increases in local tax revenues. Industrial complexes should also include housing for youth and newlyweds, commuting transport, vocational training centers, and shared childcare facilities. Middle-aged individuals should receive job transition training, families with children should have access to extended childcare and after-school care, and the elderly should have comprehensive access to medical services and transportation. Ultimately, the purpose of connecting Jeonju and Gimje is not merely to enlarge administrative boundaries. It is about ensuring that people stay, businesses grow, and the benefits translate into jobs, housing, care, and welfare for the residents of Jeollabuk-do. The integrated region of Jeonju and Gimje, encompassing Saemangeum, should function as an economic center that generates industrial profits and transforms those profits into improved living conditions for the people of Jeollabuk-do. The future of Jeollabuk-do depends more on intricate connections than grand slogans. Linking Jeonju and Gimje and extending that strength to the western coastal region of Jeollabuk-do, including Saemangeum, will serve as a practical starting point for renewed growth in the province.* This article has been translated by AI. 2026-05-10 07:09:29

Increased Capital Gains Tax Rates for Multi-Homeowners Begin Today The South Korean government has ended a temporary exemption on capital gains tax for multi-homeowners, effective today. Starting now, multi-homeowners selling properties in regulated areas will face increased tax rates. According to relevant authorities, the exemption on the capital gains tax ended on May 9, and from today, those selling homes in regulated areas will be subject to the new, higher tax rates, as reported by Yonhap News. The capital gains tax system imposes an additional tax on multi-homeowners selling properties in regulated areas, applying a basic tax rate of 6% to 45% plus an additional rate. Homeowners with two properties will see a 20 percentage point increase in their tax rate, while those with three or more properties will face a 30 percentage point increase. Including local income tax, the effective tax rate for those with three or more homes can reach as high as 82.5%. The actual tax burden is expected to rise significantly. A simulation conducted by Yonhap News showed that if a homeowner sells a property in a regulated area that was purchased six years ago for 1.5 billion won and sold for 2.5 billion won, resulting in a capital gain of 1 billion won, a single-homeowner would pay approximately 333 million won in capital gains tax after applying the long-term holding exemption. In contrast, a multi-homeowner with two properties would not qualify for the long-term holding exemption, resulting in a capital gains tax of about 574 million won, which is approximately 241 million won (72.4%) more than a single-homeowner. For those with three properties, the tax burden would increase to around 687 million won, more than double (106%) that of a single-homeowner. The government had temporarily suspended the capital gains tax for multi-homeowners since May 2022 to alleviate a slowdown in real estate transactions and a decrease in available listings. However, measures have been put in place to avoid the increased tax under certain conditions. In principle, homeowners must complete the sale process by May 9 to benefit from the exemption, but those who have applied for land transaction approval can avoid the increased tax if they complete the transaction within the designated timeframe. Finance Minister Koo Yun-cheol stated at an economic and real estate ministerial meeting on May 8, "There are concerns about a slowdown in listings after May 9, but with loan regulations and land transaction approvals in place, speculative buying is being curtailed. We will create an environment where transactions focused on actual residence can proceed smoothly."* This article has been translated by AI. 2026-05-10 06:42:22

President Lee: Judicial, Knife, and Honor Killings are Major Threats to Citizens President Lee: Judicial, Knife, and Honor Killings are Major Threats to Citizens President Lee Jae-myung stated on May 9, "Judicial murder through manipulated prosecutions, knife killings orchestrated by terrorists, and honor killings driven by manipulated media are the three major threats to our citizens. I believe that heaven has spared my life from these grave dangers, and now my life belongs entirely to the people." President Lee shared this statement on his X (formerly Twitter) account, referencing a report that concluded there was inappropriate involvement by Jeong Seung-yoon, the former vice chairman and secretary general of the Anti-Corruption and Civil Rights Commission, in handling the helicopter emergency landing incident during his tenure as leader of the Democratic Party in 2024. KOSPI Surpasses 7500 Amid Semiconductor Surge; US-China Talks and Inflation Data Loom The South Korean stock market has reached a historic milestone, with the KOSPI index surpassing 7500 for the first time, driven by a strong performance in the semiconductor sector. However, concerns are growing over the rapid increase, with upcoming events such as the U.S. Consumer Price Index (CPI) and U.S.-China summit expected to influence market volatility and sector rotation next week. According to the Korea Exchange, the KOSPI index rose by 7.95 points (0.11%) to close at 7498.00 on the previous trading day. Over the week from May 4 to May 8, the KOSPI and KOSDAQ increased by 13.90% and 1.29%, respectively. This week, the domestic market continued its upward trend, fueled by a global semiconductor rally. Major semiconductor stocks like Samsung Electronics and SK Hynix attracted significant buying interest, pushing the KOSPI above 7500 during trading hours, with the market capitalization exceeding 600 trillion won. Positive earnings reports from major U.S. tech companies and expectations for increased investment in artificial intelligence (AI) have bolstered investor sentiment in the domestic semiconductor sector. Notably, the earnings reports from U.S. hyperscalers reaffirmed the growing demand for AI, serving as a catalyst for market gains. Amazon, Microsoft, and Google reported results that exceeded market expectations, with notable increases in cloud revenue related to AI. This has strengthened expectations for expanded global semiconductor investments, leading to strong performances in sectors related to AI infrastructure, including semiconductors and power equipment. Candidates Clash Over Seoul's Redevelopment Plans: 'Neglect' vs. 'Revival' Seoul mayoral candidates Jeong Won-o and Oh Se-hoon have clashed over the direction of real estate development in the city. Jeong's camp criticized Oh for neglecting the Yongsan development for an extended period, while Oh's camp accused Jeong of reverting to the urban regeneration policies of former Mayor Park Won-soon. On May 9, Jeong posted on Facebook, questioning, "Why has Oh Se-hoon allowed this land to remain neglected during his four terms as mayor?" He attributed the delay in Yongsan development to a lack of clarity about who was responsible for the project until the end, stating, "We cannot proceed with Oh Se-hoon's approach. I will develop it differently." Oh's camp responded by raising concerns about Jeong's housing supply plans. Oh Yong-chan, spokesperson for Oh's campaign, commented that Jeong's remarks about 'villas' raise suspicions that he aims to revive the urban regeneration projects from the Park Won-soon administration. Trump: 'Expect Letter from Iran Tonight' Amid Tensions in Hormuz President Donald Trump stated that he expects to receive a letter from Iran regarding peace negotiations soon. Amid rising military tensions in the Strait of Hormuz, the U.S. appears to be favoring diplomatic solutions over escalation. According to Yonhap News, Trump made the remarks on May 8 during a press briefing at the White House when asked if he had received a response from Iran regarding U.S. demands. He said, "I will probably receive a letter from Iran tonight," adding, "We will see what happens." This suggests that Iran may provide its position within hours. Trump's comments came shortly after clashes occurred in the Strait of Hormuz between the two nations. The U.S. and Iran have maintained a ceasefire since April 7, but recent maritime blockades and attempts to breach them have led to confrontations. However, Iranian media reported that the clashes were 'limited' and indicated a desire to maintain the ceasefire.* This article has been translated by AI. 2026-05-09 21:24:31

16 Winners Share 1st Prize in Lotto 1223, Each Receiving 1.8 Billion Won Donghaeng Lottery announced that the winning numbers for Lotto 1223, drawn on May 9, are 16, 18, 20, 32, 33, and 39. The bonus number is 26. A total of 16 winners matched all six numbers, each receiving 1.857 billion won. The jackpot amount varies with each drawing based on total sales and the number of winners, and this round's prize is in the upper 100 million won range. In addition, 103 players matched five numbers plus the bonus number, earning 48.1 million won each. There were 3,481 third-place winners who matched five numbers, each receiving 1.423 million won. Many players also won fixed prizes in the fourth and fifth tiers. The fourth-place winners, who matched four numbers, totaled 161,967, each receiving 50,000 won. The fifth-place winners, who matched three numbers, numbered 2,716,882, with a prize of 5,000 won each. The payout structure for Lotto prizes varies by tier. While fourth and fifth prizes are fixed amounts, the first through third prizes depend on the total prize pool and the number of winners, meaning the payout can differ even among winners of the same tier in different drawings. Winners must claim their prizes within one year from the payout start date. If the last day to claim falls on a Saturday, holiday, or other non-business day, winners can collect their prizes on the next business day. Unclaimed prizes will be allocated to the lottery fund.* This article has been translated by AI. 2026-05-09 21:18:18

New Variety Show 'Bonjour Bakery' Welcomes Seniors Over 65 An elderly patron orders a tart and an Americano, sipping the coffee while leaving the tart untouched for a long time. After a moment of contemplation, the senior finally takes a bite of the unfamiliar tart. The camera quietly captures the senior enjoying the dessert until it's completely gone, allowing viewers to reflect on the experience of a senior savoring a treat. The new variety show 'Bonjour Bakery' is part of a growing trend of healing programs centered around actors. The concept of this show is a 'senior café.' Writer Kim Ran-joo revealed that the idea came from watching her father enjoy cakes at a coffee shop, leading to the creation of a café exclusively for patrons aged 65 and older. 'Bonjour Bakery' is the first senior café in South Korea, located in a remodeled supermarket in Gochang, Jeollabuk-do. Only seniors over 65 and their companions are allowed entry. The desserts offered at this café boast visuals and flavors that rival popular items on social media. The unique desserts at 'Bonjour Bakery' are crafted by actor Cha Seung-won, who takes on the role of a pastry chef. Assisting him as a junior pastry chef is newcomer Lee Gi-taek. The café is managed by beloved actress Kim Hee-ae, while actor Kim Sun-ho serves as the barista. Viewers got a glimpse of how the four actors interact with the seniors from Gochang and the 'senior' customers who visit the café in the first episode, which aired on May 8. The episode features Cha Seung-won focused on dessert preparation, Lee Gi-taek obsessed with breakfast, Kim Sun-ho arriving early to clean the café, and Kim Hee-ae engaging in conversations with the seniors nearby. Amid the actors' calm preparations for service, the serene daily lives of the Gochang seniors are interspersed. When the seniors finally visit the bakery, they experience a rare moment of relaxation, which resonates with viewers. The show is expected to become more lively as 'Bonjour Bakery' officially opens for business next week. Although it may be a bit late, viewers look forward to seeing the seniors embark on this new experience. 'Bonjour Bakery' is exclusively available on Coupang Play every Friday at 4 PM.* This article has been translated by AI. 2026-05-09 21:12:24

Lucky Numbers Lead to Lotto Win: Results of Draw 1223 "My spouse and I buy the pension lottery every week, and I have favorite numbers, so I asked the lottery shop for a set that included those numbers." On May 9, interest is focused on the results of the 1223rd Lotto draw, while a story about a winner of the 304th Pension Lottery 720+ (1st place: 1 ticket, 2nd place: 4 tickets) is making headlines. In a recent post on the Donghaeng Lottery winners' bulletin board, the winner of the 304th Pension Lottery 720+ shared, "My spouse and I buy the pension lottery every week, and I have favorite numbers, so I asked the lottery shop for a set that included those numbers." The winner continued, "After buying the lottery, I put it in my pocket without checking it. One day, while returning home with my spouse, we checked the ticket in the apartment parking lot and discovered that we had unexpectedly won the 2nd prize in the pension lottery. We were so happy and excited as we went upstairs, and when we checked the remaining tickets from the set, we found out we had also won the 1st prize." He expressed, "I was already grateful for the 2nd prize, but I was shocked to win the 1st prize as well. My spouse and I celebrated and shared our joy. I believe this will help us with our loan and housing issues, and I am very thankful." The winner, who purchased the tickets at a lottery shop in Yangji-myeon, Cheoin-gu, Yongin, responded to a question about which lotteries he frequently buys by saying, "I buy Lotto and the pension lottery every week." Regarding plans for the winnings, he stated, "I have some loan payments, so I will use part of it to pay that off and save for a house." Meanwhile, the results of the 1223rd Lotto draw will be available for viewing after 8:35 PM today (May 9).* This article has been translated by AI. 2026-05-09 20:27:21

Han Dong-hoon Declares Candidacy for Busan North District by-election Han Dong-hoon, a former leader of the People Power Party, officially announced his candidacy for the Busan North District by-election on May 9, stating, "If President Lee Jae-myung actually cancels the indictment, he should be impeached." According to reports, Han made this statement during a press conference held in the afternoon at Gupo Market in Busan. He emphasized his commitment to winning the election to enter the National Assembly and prevent what he described as the reckless governance of the Lee Jae-myung administration. He also criticized the Democratic Party's proposed special investigation into alleged fabricated charges, asserting, "If the president truly pushes this forward, I will take to the streets to persuade citizens and advocate for impeachment." Han intensified his criticism of the internal factions within the People Power Party, stating, "Some party members are trying hard to defeat me instead of the Democratic Party," and vowed to stop both the reckless governance of the Lee Jae-myung administration and the regression of the party's leadership under Jang Dong-hyuk. Regarding his independent candidacy, Han remarked, "I have never resigned from the party; I was unjustly expelled," and expressed his intention to return to the party. He also clarified his stance on potential unification with People Power Party candidate Park Min-sik, saying, "Political engineering is a subordinate variable," indicating he is not inclined toward such an alliance. Han reflected on his participation in the vote to lift the martial law during the December 3 emergency declaration, stating, "I chose the people over Yoon Seok-yeol." He expressed his determination to revitalize the conservative movement in the North District. As part of his local campaign promises, Han proposed the development of a multi-purpose arena along the Nakdong River and improvements to transportation networks. He stated, "I will create a representative stage for performances, exhibitions, and sports that will thrive year-round in the Yeongnam region, making North District a vibrant area."* This article has been translated by AI. 2026-05-09 20:21:20

People Power Party Criticizes Anti-Corruption Agency's Handling of Lee's Helicopter Controversy The People Power Party criticized the Anti-Corruption and Civil Rights Commission on May 9 for its handling of the "emergency helicopter transport privilege controversy" that arose during President Lee Jae-myung's tenure as leader of the Democratic Party. The party described the commission's actions as a "cleaning operation" aimed at erasing past misdeeds using state resources. Park Seong-hoon, the party's chief spokesperson, stated in a commentary that the commission's findings were ultimately tailored to fit the government's preferences. He questioned whether the commission's actions, which undermine trust in local healthcare and disrupt the medical delivery system, could be considered normalization. Previously, the commission announced on May 8 that its task force had determined that the judgment regarding the violation of medical personnel's code of conduct in 2024 was inappropriate, citing improper intervention by the then-secretary general. Following the commission's announcement, President Lee took to social media to express his views, stating, "I have been saved from the three major threats of judicial murder through manipulated prosecutions, knife murders orchestrated by terrorists, and defamation through manipulated media." He emphasized that he believes he has been spared by a higher power. In response, Song Eon-seok, the floor leader of the People Power Party, criticized Lee for using his own experience of being attacked as a narrative to seek self-exoneration. Lawmaker Na Kyung-won also condemned Lee's framing of legitimate legal judgments as judicial murder, urging him to stop the self-serving narrative and face the ongoing trial. Within the party, there were also concerns about the religious and fatalistic rhetoric in political discourse. Lawmaker Han Ji-a, associated with the pro-Han Dong-hoon faction, targeted Jang Dong-hyuk's remarks during a recent foreign press briefing, where he stated, "I believe God was watching over South Korea at that moment." Another lawmaker criticized this attitude as an attempt to cloak political actions in a transcendent legitimacy beyond the people's choice.* This article has been translated by AI. 2026-05-09 19:24:22

LVMH chief Bernard Arnault to visit Seoul for first time in three years SEOUL, May 09 (AJP) - Bernard Arnault, chairman and CEO of French luxury giant LVMH, is set to arrive in Seoul on Monday for his first visit to South Korea in three years, according to industry sources on Saturday. The visit comes as South Korea continues to solidify its position as a "key strategic market" for global luxury houses. While luxury sales in Europe and Japan have softened amid a global cooling of high-end demand—and Middle Eastern markets have seen a downturn due to regional conflicts—the South Korean market has remained exceptionally resilient. Industry insiders noted that Hermès, Louis Vuitton, and Chanel—all reported record-breaking performance in Korea last year despite the global economic slowdown. During his stay, Arnault is scheduled to visit the Shinsegae Department Store’s flagship outlet in central Seoul on May 11 to inspect "Louis Vuitton Visionary Journeys Seoul". The sprawling six-story experiential space stands as the brand's largest retail location in the world. Arnault is also expected to tour major luxury hubs at Lotte Department Store and Shinsegae Gangnam to review local operations. The LVMH chief’s return follows a 2023 trip where he met with top South Korean business leaders, including Lotte Group Chairman Shin Dong-bin. The timing is particularly notable as Arnault is expected to tour the Shinsegae flagship on a day the store is closed to the public, allowing for an uninterrupted inspection of the site's high-end dining and cultural facilities. 2026-05-09 18:15:10