SH to Partially Relocate Headquarters in Jungnang-gu, Construction Planned for 2027 The Seoul Housing and Communities Corporation (SH) is reviving its long-stalled plan to relocate its headquarters in Jungnang-gu, Shinnae-dong, through a "partial relocation" approach. Instead of moving all employees and departments, the plan now involves retaining some functions at the current headquarters in Gangnam's Gaepo-dong. This shift is attributed to concerns over project viability and financial burdens. Internally, SH is reportedly aiming to begin construction in the second half of 2027, marking a renewed momentum for a project that has been stagnant for nearly eight years. As of May 20, SH has requested a feasibility review from the Korea Local Administration Research Institute's Local Investment Project Management Center, with completion expected by the end of this month. Following the review, the project will undergo a series of approvals, including internal investment committee assessments, board resolutions, and city council agreements, to finalize whether to proceed. The timeline is currently being evaluated with a goal of starting construction in the latter half of 2027. Discussions about relocating SH's headquarters began during the tenure of former Seoul Mayor Park Won-soon from 2018 to 2019 as part of a balanced development policy between Gangnam and northern Seoul. The project was seen as a key symbol of this initiative, aimed at urban development in Jungnang-gu and balanced growth in the northeastern region. In 2020, a tripartite agreement was signed among the Seoul Metropolitan Government, Jungnang-gu, and SH, which advanced the project, and a feasibility study was conducted by the Korea Local Public Enterprises Evaluation Institute in 2021. However, the project faced delays due to issues related to its financial viability and funding challenges. Industry experts attribute these setbacks to the competitive location of the Gaepo-dong headquarters, the high costs of a large-scale relocation, and concerns regarding the public benefits of the new headquarters. An SH official stated, "The full relocation approach did not yield sufficient viability, leading us to explore various options, ultimately settling on a partial relocation plan. If the feasibility review results are positive, we plan to proceed as planned." Initially, the plan called for the complete relocation of all employees and departments to Jungnang-gu, but opposition from labor unions and financial concerns prompted a change in direction. The current proposal involves maintaining some functions at the Gaepo-dong headquarters while relocating key departments and personnel to the new headquarters in Jungnang-gu. The specific distribution of departments and the scale of personnel movement will be determined after consulting with internal stakeholders. The funding approach has also changed. The project structure has shifted from SH's own business model to a REIT (Real Estate Investment Trust) investment model. The new headquarters will be developed as a mixed-use project, incorporating office facilities, a performance venue (public contribution), as well as residential and commercial spaces. This change was made because relocating only public offices did not provide sufficient viability, prompting a shift to a mixed-use development model that combines housing and commercial facilities. This decision was reportedly made after consultations among the Seoul Metropolitan Government, Jungnang-gu, local lawmakers, and SH. The SH labor union continues to oppose the headquarters relocation, citing concerns over financial stability, changes in working conditions for affected employees, and accessibility issues for citizens. There are ongoing internal objections regarding public transportation access and reduced work efficiency compared to the Gaepo-dong location. SH stated, "The issue of relocating the headquarters involves changes in employment relationships and working conditions, so we will continue to consult with the union."* This article has been translated by AI. 2026-05-21 12:39:37

Ruling Party Targets Oh Se-hoon on First Day of Official Campaign The Democratic Party launched a concentrated attack on Oh Se-hoon, the People Power Party candidate for Seoul mayor, on the first day of the official campaign period, demanding he "apologize to citizens" and asserting he is unfit for the position. The party also announced plans to investigate allegations regarding the omission of rebar in the GTX-A line, which has recently sparked controversy. Chun Jun-ho, the party's deputy floor leader, stated during a policy coordination meeting at the National Assembly, "Today, on the first day of the campaign, Oh must first apologize to citizens. Until he does, he has no right to campaign." He added, "The more he tries to explain the rebar omission, the clearer the signs of organized cover-up become." Chun criticized Oh for saying, "It wasn't an accident," claiming this statement has outraged citizens. He urged, "I appeal to the respected citizens of Seoul: please judge Oh, who disregards the lives and safety of the public." Ko Min-jeong, co-head of the Oh Se-hoon 10-Year Judgment Headquarters within the campaign committee, condemned Oh's perception that there is no issue since no accidents have occurred. She likened it to President Yoon Suk-yeol's assertion that deploying military forces to the National Assembly did not constitute a coup because nothing happened. Ko emphasized that Oh is gambling with the lives and safety of citizens for his election bid, stating, "He must kneel and apologize for deceiving the public about serious safety issues. A candidate who does not repent is unfit to run for mayor of Seoul." Additionally, Lee Joo-hee, the party's floor spokesperson, announced plans for a parliamentary inquiry into the allegations. After the policy coordination meeting, she told reporters, "On the 26th, there will be an urgent inquiry regarding the ongoing controversy in the Administrative Safety Committee. This is a matter directly related to the lives and safety of citizens. Although it is the campaign period, the leadership in the National Assembly will continue to investigate safety issues."* This article has been translated by AI. 2026-05-21 12:36:21

Oh Se-hoon Calls for Voter Warning to the Blue House in Local Elections Oh Se-hoon, the People Power Party candidate for Seoul mayor, emphasized on May 21 that "this election should serve as a warning to the Blue House, urging a shift in government policies affecting people's livelihoods and preventing a drift towards dictatorship." Speaking in Samyang-dong, where he spent his childhood, Oh remarked, "It seems that President Lee Jae-myung has already relaxed his vigilance less than a year into his term, ignoring the cries of ordinary citizens." Samyang-dong is where Oh lived during his elementary school years. He expressed, "The time I spent in Samyang-dong during my formative years was the most challenging period of my life. I have not forgotten those feelings. The change that resolves Seoul's housing issues must begin here in Gangbuk-gu, which is why I chose to deliver my first message to the citizens here as I launch my official campaign." Oh highlighted that since returning as mayor five years ago, he has made progress on redevelopment and reconstruction policies in 35 locations within Gangbuk-gu, including lifting height restrictions near Bukhansan and recognizing current floor area ratios. He stated, "Those without homes are struggling due to the disappearance of jeonse (long-term rental) and skyrocketing monthly rents, while homeowners are burdened by concerns over capital gains tax and property tax. I believe this election is a referendum on the government's real estate failures." He appealed for support, saying, "I ask the wise citizens of Seoul to help me protect our city. Safeguarding Seoul is the quickest way to restore our nation and resolve your housing and living difficulties." Former lawmaker Yoo Seung-min, who joined Oh on the campaign trail, warned, "After this election, the government and ruling party will push for the cancellation of prosecutions and increase real estate taxes. I believe the candidate who prioritizes housing welfare for Seoul citizens should become the mayor. I will actively support Oh, as we share the same vision." Earlier that day, Oh began his official campaign at midnight at the Garak Agricultural and Fishery Wholesale Market in Songpa-gu. After participating in cabbage and radish auctions and loading agricultural products onto trucks, he stated, "I will create a Seoul where those who work hard are respected, and I will work alongside those who contribute to Seoul's economy to build a brighter future for the city." Following his activities in Gangbuk-gu, Oh plans to visit Seocho-gu, Yeongdeungpo-gu, Guro-gu, Seongbuk-gu, Dongdaemun-gu, Jongno-gu, and Gangnam-gu in a whirlwind tour across Seoul on the first day of his campaign. The campaign launch event is scheduled for 7 p.m. at Cheonggye Plaza in Jongno-gu. 2026-05-21 12:33:42

Han Byeong-do Appeals for Support in Local Elections, Urges Voters to Choose Government Aligned with Lee Jae-myung Han Byeong-do, the floor leader of the Democratic Party, called for public support on May 21, the official start of the election campaign, urging voters to choose local governments that will work in tandem with the Lee Jae-myung administration. He also warned of severe consequences for actions that mock democracy, referencing recent controversies involving Starbucks and Musinsa. During a policy coordination meeting at the National Assembly, Han stated, "This local election will determine whether we will move towards national normalization with the capable Lee Jae-myung government or allow insurrectionist forces to gain ground." He recalled the events of December 3, 2024, when President Yoon Suk-yeol declared an illegal state of emergency, nearly undermining the remarkable achievements of South Korea. He emphasized that the Lee Jae-myung government was born from the sacrifices and dedication of citizens who voluntarily gathered in the National Assembly, proving its worth through results and capabilities that meet public expectations and trust. Han criticized the local governments formed by the People Power Party during Yoon's administration, describing them as epitomes of incompetence and irresponsibility. He asserted, "We must end the regression of the past four years in this election. A victory in the local elections is the path to national normalization and a great leap forward for South Korea." He also pointed out provocations from far-right groups, including Starbucks Korea's 'Tank Day' and performances mocking the late former President Roh Moo-hyun, as well as past insults to martyr Park Jong-cheol by Musinsa. Han remarked, "What distinguishes these actions from the insurrectionist forces of Yoon Suk-yeol, which committed crimes against the state and attempted to overthrow our democratic republic?" He concluded by announcing that the Democratic Party would swiftly establish relevant laws and systems to punish acts that mock and undermine the values of the Gwangju Democratization Movement and the democratic republic.* This article has been translated by AI. 2026-05-21 12:31:03

Jang Dong-hyuk Calls for Victory to Prevent Lee Jae-myung's Rule Jang Dong-hyuk, the leader of the People Power Party, urged supporters on May 21, the first day of the official campaign for the June 3 local elections and parliamentary by-elections, to secure victory to prevent Lee Jae-myung and the Democratic Party from gaining unchecked power.In a post on Facebook, Jang stated, "This election is about protecting the freedom and democratic order of South Korea."He expressed concern that President Lee would seek to erase his trial through a special investigation and amend the constitution to pave the way for long-term rule. Jang warned that after the local elections, policies such as raising property taxes and eliminating special deductions for long-term holdings could lead to a housing crisis where citizens are forced out of their homes.Jang also criticized potential tax increases on sugar, tobacco, and alcohol, asserting that the People Power Party would protect citizens from what he termed Lee's plundering of the public's resources and property.He emphasized that this election is also about ensuring national security, claiming that Lee is inciting the public under the guise of "self-reliance" and "sovereignty," with the ultimate goal of withdrawing U.S. troops from South Korea and dismantling the U.S.-South Korea alliance.Jang pointed out that while remaining silent on drone attacks from Iran, an ally of North Korea, Lee has directed fake news and criticism towards Israel, a U.S. ally. He affirmed that the People Power Party would work alongside the public to ensure the survival of South Korea."This is a challenging election. However, more citizens are awakening," Jang remarked. He noted that the reality of Lee and the Democratic Party's threats to citizens' freedoms, livelihoods, and national security is becoming clearer. He encouraged supporters to run tirelessly and speak out, believing that more citizens would recognize the truth and support the People Power Party.He concluded, "We will win if we run together. June 3 will be the day we rebuild South Korea."* This article has been translated by AI. 2026-05-21 12:28:21

South Korea and EU Hold Supply Chain Policy Dialogue Amid Global Instability The South Korean government is resuming supply chain policy discussions with the European Union (EU) for the first time in over two years. This initiative comes as geopolitical tensions in the Middle East have heightened supply chain vulnerabilities. On May 21, the Ministry of Trade, Industry and Energy held the "2nd Korea-EU Supply Chain Policy Dialogue" in Seoul with the EU's Directorate-General for Growth. South Korea was represented by Deputy Minister Moon Shin-hak, while the EU delegation was led by Director-General Kirsten Jorna. The Korea-EU supply chain policy dialogue was established to expand existing industrial policy discussions to include supply chains, launching its first meeting in December 2023 following a summit between the two sides. This meeting, which resumed after two years and five months, aimed to assess the current state of cooperation in supply chain and industrial policy and discuss subsequent measures. Global supply chains have been significantly impacted by geopolitical risks, including the prolonged Russia-Ukraine conflict, rising tensions in the Middle East, and intensified U.S.-China strategic competition, leading to increased uncertainty in the supply of raw materials, energy, and critical components. Particularly concerning is the recent blockage of the Strait of Hormuz, a strategic chokepoint through which a significant portion of the world's oil maritime traffic passes, contributing to volatility in the international energy market. In response, both sides shared their policies for stabilizing supply chains amid ongoing disruptions caused by geopolitical conflicts and the closure of the Strait of Hormuz. The South Korean delegation introduced a supply chain bill aimed at establishing a multi-agency support system and an early warning system to quickly detect signs of supply crises for critical items such as materials, components, and equipment. They also exchanged views on the EU's current status and plans for building a supply chain monitoring system. Discussions also covered trends in industrial policy and key legislative directions. The South Korean side emphasized the need for the EU's industrial acceleration law and other major policies to be designed and implemented in a way that strengthens the close linkage of supply chains between the two regions. Cooperation in strategic industries, including critical minerals and batteries, as well as investment collaboration between companies, were also key agenda items. The Ministry of Trade, Industry and Energy plans to continue expanding cooperation in supply chains for strategic industries such as critical minerals and batteries, while strengthening economic security and industrial policy collaboration with the EU. Deputy Minister Moon stated, "Korea and the EU are strategic partners that share universal values of freedom, human rights, and the rule of law, and we have significant potential for complementary cooperation in advanced industries and supply chains. I hope this dialogue leads to tangible outcomes and becomes a key channel for solidifying supply chain stabilization and industrial cooperation between Korea and the EU."* This article has been translated by AI. 2026-05-21 12:27:00

Hana Financial Group Launches Consumer Protection Committee Hana Financial Group has established a Consumer Protection Committee, marking the launch of a comprehensive consumer protection system at the group level. All major affiliates, including Hana Bank, will participate in the initiative to proactively address consumer inconveniences and risks associated with financial product sales.On May 21, Hana Financial announced that it is the first financial holding company in South Korea to convene a Consumer Protection Committee within its board of directors.Earlier, in March, Hana Financial amended its articles of incorporation during the regular shareholders' meeting, transforming the existing Consumer Risk Management Committee into the Consumer Protection Committee. Subsequently, it appointed Professor Choi Hyun-ja as an outside director and consumer protection committee member, and elevated the rank of the executive responsible for consumer protection from managing director to vice president.During the meeting, Yoon Shim was elected as the inaugural chairperson of the committee. The committee also focused on discussing the group's consumer protection activities planned for the second half of last year and the implementation status of the 'Best Practices for Financial Consumer Protection Governance' announced by the Financial Supervisory Service in September.Hana Financial aims to activate a unified consumer management system involving key affiliates such as Hana Bank, Hana Securities, Hana Card, and Hana Capital through this committee. Future core tasks will include establishing group consumer protection policies, defining the roles and authority of the Chief Consumer Protection Officer (CCO), and reviewing and supporting internal controls for consumer protection at subsidiaries. A group consumer protection council will also be established to share best practices for consumer protection activities and complaint prevention among affiliates.Hana Financial Chairman Ham Young-joo stated, "This is a proactive measure to establish a consumer protection system focused on prevention. We will continue to concentrate our efforts on enhancing the integrated consumer protection governance at the group level."* This article has been translated by AI. 2026-05-21 12:24:18

Trump Envoy Says U.S. Needs to Expand Influence in Greenland Donald Trump’s envoy to Greenland, Jeff Landry, the governor of Louisiana, emphasized the need for the United States to expand its influence in Greenland during a recent visit. In an interview with AFP on May 20, Landry stated, "Greenland needs the United States," adding, "I believe it is time for the U.S. to leave its footprint in Greenland again." He noted that he is aware the president has mentioned expanding national security operations in Greenland and redeploying personnel to certain bases. Landry visited Nuuk to attend an economic forum held on May 19-20. However, his unilateral visit, without an official invitation from the event's organizer, Business Greenland, sparked controversy locally. Appointed as the U.S. envoy to Greenland in December 2025, this was Landry's first visit to the territory. He had previously attempted to attend a dog sled race in Greenland in March but had to cancel due to opposition from the Greenland Dog Sled Association (KNQK). During his visit, Landry met with Greenland's Prime Minister Jens Frederik Nielsen and Foreign Minister Múte Egede, conveying that there has been no change in President Trump’s stance on the desire to annex Greenland. Trump has argued for the necessity of securing Greenland for national security reasons. However, in January, he stepped back from the idea of using force and has since engaged in diplomatic discussions with Greenland. Regarding the national security concerns raised by Trump, both sides are reportedly discussing the expansion of U.S. military presence. Recently, the BBC reported that the U.S. is considering establishing three new military bases in southern Greenland and designating these facilities as U.S. territory. Currently, the only U.S. military base in Greenland is the Pituffik Space Base in the northwest.* This article has been translated by AI. 2026-05-21 12:21:21

Alibaba Unveils In-House AI Chip 'Zhenwu M890' to Reduce Dependence on Nvidia Alibaba has unveiled its in-house artificial intelligence (AI) chip, the 'Zhenwu (젠우) M890,' as part of a strategy to reduce reliance on foreign high-performance AI semiconductors like those from Nvidia amid ongoing U.S. export restrictions on advanced semiconductors to China. On May 20, during the Alibaba Cloud Summit held in Hangzhou, the company showcased the next-generation AI chip, which was developed by its semiconductor design subsidiary, T-Head. According to the company, the performance of the Zhenwu M890 is three times greater than that of its predecessor, the Zhenwu 810E. The Wall Street Journal reported that this chip features 144GB of GPU memory and supports both AI training and inference tasks, unlike previous models. Alibaba stated, "The new chip is suitable for agent-type AI tasks that require processing multiple stages and utilizing various AI models simultaneously." Alongside the chip, Alibaba also introduced a new server and a large language model (LLM). The 'Panjiu (판지우) AL128' server is a high-performance system that combines 128 Zhenwu M890 chips. Reuters reported that this system will be offered to corporate clients through Alibaba Cloud's AI model platform in China. The next-generation LLM, 'Qwen3.7-Max,' was also launched. This model is designed for complex coding, intricate reasoning, and multi-stage tasks that require extended processing time. The company noted that the Qwen3.7-Max and the infrastructure based on the Zhenwu M890 can handle complex AI tasks for up to 35 hours without performance degradation. Alibaba also presented its AI chip roadmap, planning to release a follow-up product, the V900, in the third quarter of 2027, and the J900 in the third quarter of 2028. The V900 is expected to achieve approximately three times the performance of the Zhenwu M890. T-Head has reportedly shipped over 560,000 units of the Zhenwu product line, with more than 400 clients across 20 industries, including automotive and finance, adopting the technology. This announcement aligns with the trend of China's big tech companies striving for semiconductor independence. As the U.S. continues to limit exports of high-performance AI chips to China, companies like Alibaba and Huawei are accelerating their in-house chip development. Previously, Alibaba announced plans to invest 380 billion yuan (approximately $53 billion) over three years in cloud and AI infrastructure.* This article has been translated by AI. 2026-05-21 12:18:52

Toss Introduces FacePay at Major Rest Areas in Partnership with Pulmuone Food & Culture Toss announced on May 21 that it will introduce its facial recognition payment service, FacePay, at over 20 major rest areas across the country in partnership with Pulmuone Food & Culture. This marks the first implementation of FacePay at rest areas in South Korea. The two companies signed a memorandum of understanding (MOU) on May 20 at Toss headquarters in Yeoksam-dong, Gangnam, Seoul. Key executives from both companies, including Toss Vice President Oh Gyu-in and Pulmuone Food & Culture Vice President Kim Kyung-soon, attended the ceremony. Under the agreement, FacePay will first be implemented at the Gyeonggi Gwangju Rest Area (toward Gwangju) before expanding to more than 20 additional locations. Toss will install its payment terminals, known as Toss Front, at open stores in the rest areas, while existing kiosks will be equipped with the Toss Front Cam, which enables facial recognition. Users will be able to make payments using only facial recognition, without the need for a card or mobile phone. A Toss representative stated, "FacePay is expanding its application in various offline environments where quick payments are needed. We will continue to collaborate to provide a more natural and convenient payment experience in high-traffic areas like rest stops."* This article has been translated by AI. 2026-05-21 12:16:19