U.S.-South Korea Deputy Foreign Ministers Meet to Launch Joint Fact Sheet Group Park Yoon-joo, First Deputy Minister of Foreign Affairs, met with Christopher Landau, U.S. Deputy Secretary of State, in Washington on May 20 to discuss specific measures for implementing the Joint Fact Sheet (JFS) from the recent summit between the two nations. According to the Ministry of Foreign Affairs on May 21, the two deputy ministers emphasized that the South Korea-U.S. alliance is a cornerstone for peace, security, and prosperity in the Indo-Pacific region. They agreed that the announcement of the JFS is one of the most significant diplomatic achievements in the past year since the current government took office and serves as a vital tool for addressing shared challenges amid international security and economic uncertainties. The deputy ministers also noted that discussions on U.S. investment in South Korea are progressing smoothly and committed to ensuring the success of the upcoming kickoff meeting scheduled for later this month. During a meeting with South Korean correspondents at the South Korean Embassy in Washington, Park highlighted the agreement to hold a launch meeting for the implementation of the Joint Fact Sheet as the most important outcome of his visit to the U.S. Landau reaffirmed the United States' strong defense commitment to South Korea and the unwavering readiness of the South Korea-U.S. alliance, stating that South Korea is the best economic, trade, and investment partner for both nations and that efforts will continue to support this partnership. Park expressed gratitude for Landau's keen interest and commitment to resolving visa issues, which are essential for advancing investment cooperation between the two countries, and expressed hope for continued progress. Landau acknowledged the significant contributions of South Korean companies to the U.S. economy and manufacturing revival, pledging ongoing support for their investment activities. The two deputy ministers also exchanged in-depth views on global issues and situations, including the Middle East, the recent U.S.-China summit, and critical mineral supply chains. Park particularly praised President Trump's proactive leadership in addressing Middle East issues and agreed on the importance of safe and free navigation in the Strait of Hormuz. They agreed to maintain immediate communication on various issues arising between the two countries and to coordinate high-level communications over the next 2-3 months through various opportunities. * This article has been translated by AI. 2026-05-21 08:32:14

Candidates Launch Campaigns for Seoul Mayor Election Jung Won-o, the Democratic Party candidate for Seoul Mayor, and Oh Se-hoon, the People Power Party candidate, will officially launch their campaigns on May 21. According to political sources on May 20, Jung will visit the Dongseoul Postal Distribution Center in Gwangjin-gu at midnight to meet with workers on the night shift. Joining him will be Democratic Party officials, including Representative Jung Cheong-rae and former lawmakers Park Joo-min and Jeon Hyun-hee, who are part of the 'Ottu Campaign Team' following their defeat in the mayoral primary. Later that morning at 10:30 a.m., Jung will hold an official launch event at Wangsimni Station Plaza in his political hometown of Seongdong-gu. The event is expected to attract numerous Democratic Party officials from 25 districts and 48 local committees. In the afternoon, Jung will focus on campaigning in the Gangnam area. At 3 p.m., he will greet voters at the Seocho-gu Express Bus Terminal, followed by a major rally at Gangnam Square at 6 p.m. targeting commuters. Oh Se-hoon will announce the start of his campaign at midnight at the Garak Agricultural and Fishery Wholesale Market in Songpa-gu. He plans to engage with voters by personally transporting vegetables like cabbage and radishes at the auction site. His first rally with former lawmaker Yoo Seung-min will take place at 9:30 a.m., with an official launch event scheduled for the afternoon. Gyeonggi governor candidates will also kick off their campaigns. Democratic Party candidate Choo Mi-ae will hold her first rally at 10 a.m. at Seohyeon Station in Bundang-gu, accompanied by Representative Jung and lawmakers Kim Tae-nyeon, Lee Soo-jin, and Seongnam mayoral candidate Kim Byeong-wook to rally support. Reform Party candidate Jo Eung-cheon will hold a joint launch event for the Central and Gyeonggi Election Campaign Committees at his campaign office in Hwaseong at 9 a.m. He will then move to Suwon Station's underground shopping area for his first street rally at noon. Yang Hyang-ja, a candidate from the People Power Party who is on a hunger strike to prevent a total strike at Samsung Electronics, will hold her launch event at 3 p.m. at the Yeongdong Market in Suwon. However, if negotiations between Samsung Electronics and labor representatives break down that day, she plans to cancel the event and continue her protest.* This article has been translated by AI. 2026-05-21 08:30:38

Bitcoin Recovers to $77,400 as Investor Sentiment Improves Bitcoin and other major cryptocurrencies saw a significant rise in prices. This increase is attributed to a recovery in global risk asset investor sentiment, which has led to increased buying activity in the cryptocurrency market. According to CoinMarketCap, as of 8 a.m. on May 21, Bitcoin was trading at $77,424, up 0.92% from the previous day. Ethereum also rose by 0.92%, reaching $2,126. Binance Coin (BNB), Solana, and Ripple (XRP) recorded increases of 1.51%, 2.25%, and 0.62%, trading at $648, $85, and $1.36, respectively. Market analysts believe that the strong performance of the U.S. stock market and a renewed preference for risk assets have positively influenced the cryptocurrency market. Recent reductions in volatility in global financial markets have contributed to an improvement in investor sentiment. As Bitcoin's upward trend continues, buying interest is spreading to major altcoins. Analysts note that there is growing optimism for short-term rebounds, particularly among certain altcoins like Solana. As of 8 a.m. on the same day, Bitcoin was trading at approximately 114.95 million won ($77,425) on the domestic exchange Bithumb, reflecting a slight decrease of 0.04% from the previous day. The 'Kimchi Premium' was recorded at -0.860%, indicating that the price of Bitcoin in South Korea is lower than that in international markets. 2026-05-21 08:24:50

KT HCN to Broadcast Ulleung County Mayor Candidate Debate KT HCN announced it will broadcast a debate featuring candidates for the Ulleung County mayoral election on May 26 at 8 p.m. on its local channel. The debate will allow candidates to express their positions on local issues, key pledges, and governance direction. The company aims to provide Ulleung County voters with an opportunity to evaluate the candidates ahead of the June 3 local elections. Due to the island's geographical isolation, travel conditions can vary based on weather and ferry operations, making it difficult for national election broadcasts to adequately cover local issues and candidates. KT HCN plans to deliver the debate live from Ulleung Island, ensuring that residents receive timely information relevant to their daily lives. The company emphasized that this broadcast reflects its commitment to fulfilling its public service obligations as a cable TV provider, continuing to deliver essential information to the community despite challenging business conditions. Choi Kwang-cheol, CEO of KT HCN, stated, "Since 2018, KT HCN has been broadcasting Ulleung County mayoral candidate debates live to enhance election information accessibility for island voters. We are preparing this broadcast to allow Ulleung voters to directly compare the candidates' policies and visions in this local election." He added, "We will continue to ensure that necessary election information is delivered equitably to island communities, fulfilling our public role as a cable TV provider." Candidates for the Ulleung County mayor include Jeong Seong-hwan from the Democratic Party, Kim Byeong-su from the People Power Party, independent candidates Nam Han-gwon and Nam Jin-bok.* This article has been translated by AI. 2026-05-21 08:22:28

Foreign Investors Sell 38 Trillion Won While Retail Investors Buy 41 Trillion Won Amid Ongoing Market Struggle ◆Ajou Economic Major News ▷Foreign investors have sold 38 trillion won in the KOSPI over 10 consecutive trading days, while retail investors have responded with 11 consecutive days of net buying. - Foreign investors have engaged in net selling for 10 straight trading days in May, offloading approximately 38 trillion won. In contrast, individual investors have been net buyers for 11 consecutive days, absorbing the sell-off. - Analysts suggest that the surge in U.S. interest rates and concerns over overheating in the KOSPI are driving the foreign selling trend. - However, the proportion of foreign ownership reached a record high of 39.58% on May 13, indicating that despite the selling, foreign ownership has actually increased. - This is interpreted as the value of foreign-held stocks rising significantly due to the stock price increases, outpacing the volume of net selling. - Market analysts view the current foreign investor behavior as a 'weight adjustment' rather than a complete exit from the Korean stock market, indicating profit-taking and portfolio rebalancing. ◆Key Reports ▷Will AI Kill Bonds? - Meritz Securities analyzes that the spread of AI is creating a more favorable environment for the stock market over bonds by improving productivity and growth rates. - While AI's labor replacement and resource allocation efficiency could contribute to long-term price stability, short-term large-scale infrastructure investments are causing inflation and rising procurement costs, putting pressure on the bond market. - Concerns are raised that the bond market may remain weak until the investment competition among global hyperscalers in AI infrastructure stabilizes. - Recent global interest rate hikes are attributed to a combination of factors, including supply-driven inflation from soaring oil prices in the Middle East, deteriorating fiscal health, and demographic changes. - Meritz Securities diagnoses that declining savings and increasing social security costs in major countries like the U.S., U.K., and Japan are structurally increasing pressure for rising interest rates. ◆Major Announcements After Market Close (May 20) ▷Daewoong Pharmaceutical has transferred ERA technology rights to Hanol Bio instead of Turn Bio in the U.S. ▷The exchange has decided to delist Geumyang due to 'refusal of audit opinion.' ▷Waivers has decided on a 5-for-1 stock consolidation. ▷Fantagio has changed its largest shareholder from 'Mirae I & G and two others' to 'X and one other.' ▷JTC has decided to retire 15 billion won worth of treasury stock. ▷Remed has decided to enter into a trust agreement for the acquisition of 2 billion won worth of its own shares. ◆Fund Trends (As of May 19, excluding ETFs) ▷Domestic equity: +79 billion won ▷Overseas equity: -3.2 billion won ◆Key Schedule for Today (May 21) ▷South Korea: Producer Price Index (April) ▷Eurozone: Manufacturing and Services PMI (May) ▷United States: Housing starts and permits (April), Manufacturing and Services PMI (May)* This article has been translated by AI. 2026-05-21 08:20:41

Brooks Koepka Returns to CJ Cup After Five Years, Remembers Memorable Journey Brooks Koepka, known as a "major hunter," is aiming for victory at the CJ Cup Byron Nelson, returning to the PGA Tour after five years. The tournament, which features a total prize purse of $10.3 million, will take place at TPC Craig Ranch in McKinney, Texas. On May 21, during a press conference at the tournament's media center, Koepka stated, "This is my third consecutive week on tour. I like to create momentum and find my rhythm by playing several weeks in a row. It's been a while since I've played this golf course, and I'm looking forward to it. I hope the weather holds up." The CJ Cup holds fond memories for Koepka. In 2018, while competing at the event in Jeju, he caught a massive 50-centimeter fish off the coast before the tournament. At the press conference, he smiled and said, "I hope the fish brings me good luck," before ultimately lifting the championship trophy. Reflecting on that experience, Koepka remarked, "I had a great time in Jeju. I won, and it was a really fun journey. I think I enjoyed it from the moment I boarded the plane to Korea. Jeju is a fantastic, beautiful place. I struggled a lot while fishing, only managing to catch one fish, but just being out on the water was a lot of fun." Koepka also fondly remembers the Korean barbecue he enjoyed after fishing. "About 30 minutes after fishing, I had Korean barbecue, which was really delicious," he said. "Tour life can become repetitive, but experiencing the culture of different countries is always interesting and enjoyable." Having won five major championships, Koepka transitioned to LIV Golf in 2022 but returned to the PGA Tour this year. However, his ranking dropped to 111th due to his LIV Golf activities, and he currently lacks sufficient points for various PGA Tour events. To secure spots in signature tournaments reserved for top-ranked players, he must accumulate points diligently at each event. This situation has fueled Koepka's passion. "Every week feels like a new beginning for me. If I get the chance to compete, I want to take it," he said. "More than anything, I’ve really fallen back in love with golf. Competing fiercely on tour and working to improve my game is genuinely enjoyable for me." Despite being outside the top 100 in the world rankings, Koepka is still considered a strong contender for this tournament. He is ranked fifth in the power rankings released by the PGA Tour, which noted that he has finished in the top 20 in five of his last six tournaments. In this tournament, Koepka will play the first two rounds alongside world No. 1 Scottie Scheffler and Kim Si-woo. He commented, "Scheffler is undoubtedly the best player in the world right now. Many fans will come to support him, and the atmosphere will be very exciting. It will be a great gauge of where my game and my standing are at. I expect it to be a fantastic competition." The tournament will take place from May 22 to 25. The winner will receive 500 FedEx Cup points, a two-year tour exemption, and eligibility for signature events that year, as well as entry into the next season's Players Championship and major tournaments.* This article has been translated by AI. 2026-05-21 08:18:48

Lotte World Offers Unique Experiences with 'Star Wars' and Baby Penguins Lotte World is focusing on attracting visitors by offering a variety of attractions, from global intellectual property experiences to the birth of endangered species, in celebration of Family Month. Lotte World Tower's Seoul Sky will host the 'STAR WARS: ABOVE THE GALAXY' exhibition in collaboration with Walt Disney Company Korea, running until June 28, ahead of the film release of 'The Mandalorian and Grogu' on May 27. This themed space is designed to take visitors on a journey into the Star Wars universe right in the heart of Seoul. The entrance on the basement level features photo zones themed around the upcoming film, while a special store on the first basement level offers a variety of themed merchandise, including figures. During the May holiday period, Lotte World hosted a parade featuring the official Star Wars fan club and a marching band, which received positive feedback. Lotte World reported that foreign visitor numbers increased by approximately 41% compared to the same period last year, attributing this rise to the successful use of global IP in their space planning. At Lotte World Aquarium, visitors can witness the wonders of new life. The aquarium will debut a baby Humboldt penguin, hatched in February, on May 22 in honor of Biodiversity Day. Humboldt penguins, native to the coasts of South America, are classified as an endangered species. The aquarium operates a breeding system that scientifically regulates temperature and water conditions based on an analysis of their natural habitat in Peru, resulting in a steady birth rate since 2018. The newly hatched penguin has completed swimming adaptation and socialization training under the care of veterinarians and aquarists. Educational sessions on penguin ecology are held twice daily (at noon and 4 p.m.) in the polar zone on the first basement level. Additionally, the aquarium will host a special exhibition in collaboration with the popular game IP 'Cookie Run' until June 7.* This article has been translated by AI. 2026-05-21 08:15:00

Google I/O 2026 Sparks Major Changes in AI Landscape with New Products and Partnerships As Google's annual developer conference concluded, significant shifts in the AI industry became evident. Changes are unfolding simultaneously across hardware, software, and partnerships. According to the IT industry on May 21, Google announced several key developments during the Google I/O 2026 event held on May 19-20 at the Shoreline Amphitheatre in Mountain View, California. These included the unveiling of AI smart glasses, enhancements to its agent coding platform, and a reduction in subscription fees. Google and Samsung Unveil AI Glasses Designed by Gentle Monster and Warby Parker The highlight in hardware was the first public reveal of the AI glasses, 'Intelligent Eyewear,' co-developed by Google and Samsung. This marks the first time the product's design has been shown since the collaboration was announced in December. The glasses were designed by the South Korean eyewear brand Gentle Monster and the American company Warby Parker. They feature built-in speakers, cameras, and microphones, allowing users to execute functions through voice commands, positioning them as a 'companion' device to support key features of the Galaxy AI phone. During a stage demonstration, the glasses successfully performed a series of tasks, including navigation, ordering drinks, summarizing texts, and adding calendar events, all through voice commands. The audio glasses are set to launch this fall, while the display glasses, which will show information directly in the user's field of vision, will be released in subsequent phases. This move marks Google's and Samsung's entry into the AI glasses market, previously dominated by Meta's Ray-Ban. Antigravity 2.0 Launches to Challenge Anthropic's Dominance in AI Coding On the software front, regaining leadership in the AI coding market was a primary focus. Google introduced 'Antigravity 2.0,' an agent-based development platform, as a standalone desktop app, simultaneously unveiling CLI, API, and SDK, signaling a shift from a single coding tool to an agent ecosystem platform. Google claims that multiple agents can now work in parallel, achieving processing speeds 12 times faster than before. This urgency stems from the competitive landscape, where Anthropic's market share in enterprise AI chatbots surged from 10% in February 2025 to over 60% in February 2026, while OpenAI's share plummeted from 90% to 35% during the same period. Currently, Google ranks third in this competition. The company has also reduced the price of its AI Ultra Plan from $250 to $200 per month and introduced a new entry-level tier at $100 per month. However, on the day of the announcement, Google's stock rose only 0.66% in pre-market trading, indicating a lukewarm market reaction. Meanwhile, xAI also launched its Grok build, intensifying the competition for the enterprise AI coding market, which Anthropic had previously dominated. End of OpenAI-Microsoft Exclusivity as Anthropic Claude Integrates with Copilot The landscape of partnerships is also shifting. The six-year exclusivity agreement between OpenAI and Microsoft is effectively coming to an end. Under the new agreement, OpenAI has gained the right to freely engage with cloud providers such as Oracle, Google, and AWS, in addition to Microsoft Azure. Microsoft is accelerating the integration of Anthropic Claude into its Office 365 and Copilot services. Currently, Copilot is transitioning to a multi-model architecture, where Anthropic Claude will handle enterprise reasoning tasks while OpenAI's GPT model will manage consumer-facing functions. This unusual situation sees Microsoft, which helped elevate OpenAI, now acting as both an investor in Anthropic and a partner for model integration. The common thread among these developments is clear: the AI market is shifting its focus from chatbot competition to alliances in agents, hardware, and infrastructure. Aside from Samsung and Gentle Monster's involvement in the Google-Samsung AI glasses ecosystem, domestic companies have yet to establish themselves as key players in this reconfiguration.* This article has been translated by AI. 2026-05-21 08:07:46

Government Introduces Fines for Price Stability Violations, Extends Fuel Tax Cuts The government has announced measures to enhance the effectiveness of price stability initiatives. To address the limitations of existing legal sanctions against violations such as hoarding, the Price Stability Act will be amended to introduce monetary penalties. Additionally, the government will extend fuel tax cuts for gasoline by 15% and diesel by 25% for two more months, until the end of July, in response to rising international oil prices. Koo Yoon-cheol, Deputy Prime Minister and Minister of Economy and Finance, convened a task force on special management of living costs and the 268th External Economic Ministers' Meeting on May 21 to unveil these measures. Previously, the government had implemented maximum price controls on petroleum products, emergency supply adjustments, and a ban on hoarding to address supply shortages. However, there were no legal means to compel sales in cases of hoarding violations, and significant time was required to supply goods to the market. To rectify this, the government is establishing measures to deprive illegal profits through monetary sanctions. A Ministry of Economy and Finance official stated, "We will impose administrative penalties such as compliance fines and surcharges for violations of price stability measures, and we will introduce special provisions for sales to improve the distribution speed of goods in short supply and recover illegal profits." The amendment to the Price Stability Act will impose monetary penalties exceeding unjust gains. Surcharges will be levied for violations of emergency supply adjustments and the hoarding prohibition to recover economic benefits. A reward system for reporting violations will also be introduced to encourage whistleblowing. To quickly resolve supply shortages, rapid distribution enforcement measures will be implemented. If violations of government measures are detected, a disposal order will be issued, and failure to comply will result in compliance fines. New regulations will also allow for the sale of confiscated goods when urgent supply is needed. With the amendment of the enforcement decree of the Price Stability Act, the authority to crack down on hoarding violations at the import and customs stages will be delegated from the relevant minister to the Commissioner of the Korea Customs Service. In cases of disposal of violating goods, the police will actively utilize pre-indictment confiscation to recover the value during the investigation stage. A Ministry of Economy and Finance official noted, "We will apply the revised enforcement decree of the Price Stability Act starting this month and will push for amendments to the Price Stability Act in August." As international oil prices continue to soar, the government will extend the fuel tax cuts until July 31, maintaining a reduction of 15% for gasoline and 25% for diesel, particularly benefiting essential diesel used in industries and logistics. However, the specific end date for the fuel tax cuts has not yet been determined. The government plans to implement the revised enforcement decree of the Transportation, Energy, and Environment Tax Act following approval at the Cabinet meeting. The Ministry of Economy and Finance anticipates that the inflation rate for May will remain around 2%. A ministry official commented, "There have been no significant fluctuations in petroleum product prices, and no unusual factors have been identified in agricultural and marine products. It seems likely that prices will rise less than in April."* This article has been translated by AI. 2026-05-21 08:04:13

Samsung Electronics DS Division Bonuses Projected to Reach Up to 600 Million Won Per Employee According to industry sources, employees in certain sectors of Samsung Electronics' semiconductor division may receive bonuses of up to 600 million won each, based on a tentative agreement reached just before a planned general strike. On May 21, reports indicated that Samsung Electronics and its labor union established a new special management bonus system for the DS division in their recent tentative agreement. This system combines the existing OPI of 1.5% with an additional special management bonus of 10.5%, resulting in a total bonus pool of 12%. The special management bonuses will be calculated based on performance metrics agreed upon by both parties, with no upper limit on the amount. The distribution of these bonuses will vary within the DS division. Sixty percent of the total bonus pool will be allocated to profitable sectors, while the remaining 40% will be distributed across the entire DS division. As a result, employees in profitable sectors, such as memory, are expected to benefit the most. Industry analysts estimate that if Samsung's DS division sees a significant improvement in operating profit, employees in the memory sector could receive bonuses of around 600 million won, combining the common pool and sector-specific allocations. This estimate is based on a salary of 100 million won and is calculated before taxes. Loss-making sectors may also receive a certain level of bonuses in the short term. The tentative agreement reportedly includes a provision to apply differential treatment to loss-making sectors starting in 2027, effectively postponing penalties for this year. However, the agreement has sparked controversy, as it is seen as unprecedented. The bonus pool is set to be maintained for ten years, and the lack of a cap could lead to substantial rewards during periods of strong performance. Conversely, there may be growing feelings of deprivation and fairness concerns among non-semiconductor sectors and shareholders due to the DS-centric bonus distribution. An industry insider noted, "While the general strike has been averted, internal equity issues surrounding the bonuses are likely to intensify from here on out. Especially if the figure of 600 million won gains prominence, the gap between DS and non-DS sectors could widen further."* This article has been translated by AI. 2026-05-21 07:55:05