Goldman Sachs: U.S. Big Tech AI Spending to Exceed Japan's GDP by 2030 Goldman Sachs has projected that capital expenditures related to artificial intelligence (AI) by the four major U.S. tech companies—Meta, Microsoft, Amazon, and Alphabet—will surpass Japan's gross domestic product (GDP) by 2030. According to Business Insider on June 3, Goldman Sachs recently updated its forecasts for capital expenditures by AI hyperscalers, estimating that the cumulative spending by these four companies will reach $5.3 trillion (approximately 8,100 trillion won) from 2025 to 2030. Citing data from the International Monetary Fund (IMF), Business Insider reported that this amount exceeds Japan's GDP of $4.38 trillion and surpasses the economic sizes of over 200 countries, including the United Kingdom, India, and France. If viewed as a single national economy, the scale of AI investment could rank as the world's fourth-largest economy. Goldman Sachs anticipates that funding for AI infrastructure will be sourced through various means, with the private market expected to play a larger role in the future. Overall, the industry is projected to spend a total of $7.6 trillion on data centers, power, and computing over the next five years. Goldman Sachs noted that "private construction of data centers has accelerated significantly in recent years," predicting that data center development will become a "multi-year investment cycle." Investors are increasingly concerned about the massive funds that tech companies are pouring into AI infrastructure, given the uncertainty about whether these investments will yield sufficient returns in the long term. However, the major tech companies show no signs of slowing down their AI spending in the near term. According to Goldman Sachs, the four companies plan to invest up to $725 billion in capital expenditures this year, more than double the $360 billion they spent in 2025.* This article has been translated by AI. 2026-06-04 14:36:00

Strengthening Local Resilience Requires More Than Just Corporate Relocation To effectively address regional extinction, experts recommend focusing on developing new industries tailored to local characteristics and strategies to attract population influx, rather than simply relocating companies from the capital region. On June 4, the Ministry of Planning and Budget and the Long-term Strategy Committee held the sixth meeting of the Future Society Strategy Group, where they discussed strategies to enhance local resilience and long-term policies on climate and energy. Participants, including public and private researchers, suggested restructuring industrial frameworks around strategic hubs and creating population influx strategies that align with regional characteristics. Kwon Oh-hyun, chair of the Long-term Strategy Committee, stated, "Relocating companies from the capital region is not realistically feasible. We need an industrial policy framework that includes legal and institutional incentives to attract new industries to the regions." Inso Young, a professor in the Department of Civil and Environmental Engineering at KAIST, emphasized that "the demographic groups needed in each region vary," advocating for tailored incentives and living conditions that cater to specific groups, such as retirees and foreign workers. Kye Bong-oh, a sociology professor at Kookmin University, noted, "Relying solely on corporate relocations is insufficient for fostering self-sustaining growth in the regions. We need to empower local governments at the metropolitan level to create their own growth drivers through attracting businesses and developing industrial ecosystems." The Ministry of Planning and Budget and the Long-term Strategy Committee plan to continue discussions based on the meeting's outcomes to establish a long-term national development strategy.* This article has been translated by AI. 2026-06-04 14:33:00

Hong Kong ELS Penalties Reduced to 600 Billion Won, Easing Bank Burden The Financial Supervisory Service (FSS) has reduced the penalties for banks related to the improper sale of Hong Kong H-index linked securities (ELS) to approximately 600 billion won. Initially, penalties were discussed at a maximum of 4 trillion won, but after several discussions, the amount has been significantly lowered, easing the burden on the banking sector. On June 4, the FSS held a temporary disciplinary committee meeting and decided to impose a total penalty of 600 billion won on five banks involved in the sale of Hong Kong ELS, including KB Kookmin, Shinhan, Hana, NH Nonghyup, and SC First Bank. The initial penalty estimated by the FSS for the improper sale of Hong Kong ELS was around 4 trillion won. This amount was subsequently reduced to the 2 trillion won range during discussions, and in February, a penalty proposal of 1.4 trillion won was submitted to the Financial Services Commission (FSC). However, the FSC requested additional clarification on certain facts and applicable laws, returning the proposal to the FSS, which led to a re-evaluation about three weeks later. The reduction in penalties was largely influenced by a reassessment of the violations. Under the Financial Consumer Protection Act, penalties are calculated based on the revenue obtained from violations, with different rates applied depending on factors such as the motivation and method of the violation, the scale of damage, and market impact. During this disciplinary meeting, the FSS reportedly lowered the assessment of the motivation and method of violations from 'medium' to 'low.' Consequently, the applicable penalty rate was also reduced, leading to a decrease in the total penalty amount. Additionally, the exclusion of sales made during the grace period at the beginning of the Financial Consumer Protection Act from the penalty calculation likely contributed to the reduction. The FSC had previously decided to issue a non-action letter, indicating that it would generally provide guidance on violations of new and strengthened regulations from March to September 2021, six months after the law's implementation. The fact that the compensation process for affected customers is nearly complete was also taken into account. There are 143,316 accounts with confirmed losses from Hong Kong ELS, and compensation procedures have been completed for over 99% of these cases. This was achieved as banks conducted voluntary compensation based on the dispute resolution guidelines announced by the FSS in March of last year. As this disciplinary decision is a procedural matter within the FSS, the final penalty amount will be confirmed following a decision by the FSC. The final judgment process by the FSC is expected to raise subsequent issues regarding the penalty amounts for each bank and the possibility of further reductions. 2026-06-04 14:33:00

HanDoc's Partner Resolute Announces Interim Results of Phase 3 Clinical Trial for Tumor-Induced Hyperinsulinemia Treatment HanDoc announced on June 4 that its partner, Resolute, presented interim results from the Phase 3 clinical trial of ErsoDetug (RZ358) for patients with tumor-induced hyperinsulinemia (HI) on June 2 (U.S. time). ErsoDetug is a fully human monoclonal antibody that binds to the insulin receptor in an allosteric manner, reducing receptor hyperactivity caused by insulin and related substances, thereby improving hypoglycemia in HI conditions. The upLIFT study is a single-arm, open-label Phase 3 trial targeting patients with hypoglycemia due to insulinomas and non-beta cell tumors. So far, 8 out of the planned 16 participants have been enrolled. Among the 8 enrolled patients, 6 met the primary endpoint of a 50% or greater reduction in the glucose infusion rate (GIR) compared to baseline. Some patients were able to discontinue intravenous glucose administration after treatment. One patient withdrew consent before completing the core treatment period and stopped ErsoDetug and other non-curative treatments. The remaining patient is still receiving treatment. Those who completed the 8-week treatment period are participating in a long-term extension study, with cumulative treatment ongoing for up to 6 months. ErsoDetug demonstrated overall good tolerability throughout both the core treatment and extension study phases. No drug-related adverse events or other safety concerns have been reported to date. Resolute is a late-stage rare disease biotech company focused on treating various forms of hyperinsulinemia that cause hypoglycemia. HanDoc holds the rights for the domestic commercialization of ErsoDetug and continues its development collaboration with Resolute. Resolute plans to complete patient enrollment for the Phase 3 upLIFT study for tumor-induced hyperinsulinemia and announce topline results in the second half of this year.* This article has been translated by AI. 2026-06-04 14:30:00

TSMC Chairman Hints at Potential Semiconductor Price Increases Amid AI Demand The chairman and CEO of TSMC, the world's largest semiconductor foundry, expressed confidence in future growth driven by increasing demand for artificial intelligence (AI) and hinted at the possibility of raising semiconductor prices. During TSMC's annual shareholder meeting held at its headquarters in Hsinchu, Taiwan, on June 4, Chairman Wei Zhejia noted that customers remain optimistic about AI prospects, stating, "I am confident in our growth over the next few years." He highlighted the rising adoption rates of AI models across consumer, enterprise, and sovereign applications, saying, "This trend is driving demand for stronger computing capabilities and supporting robust demand for advanced semiconductor chips." Wei projected that AI will expand beyond data centers into personal computers, smartphones, automobiles, and Internet of Things (IoT) devices. He emphasized that TSMC's leading technology and exceptional manufacturing capabilities will continue to grow in value as a result. Regarding the potential for price increases, Wei responded to a question about whether TSMC would ask customers for higher prices, saying, "I really want to do that; we also need to make a profit in the end." However, he drew a line at abrupt price hikes, stating, "We do not want to raise prices suddenly like memory companies; that is not sustainable. TSMC focuses on long-term and sustainable operations. We are not that kind of company." Wei indicated that significant capital investments to meet rising AI demand would continue for the foreseeable future. When asked during the Q&A session about when TSMC's capital expenditures might peak and when they could be reduced, he candidly replied, "Honestly, I don't know." He added that he does not currently see any signals indicating a need to cut capital expenditures. TSMC expects its capital expenditures for the year to range between $52 billion and $56 billion, which he explained reflects the company's strong confidence in future growth. The company is also accelerating its production expansion in the United States. Wei stated that while TSMC is doing everything possible to meet customer demand, it will take a "considerably long time" to fully satisfy U.S. customer needs solely through domestic production, without providing a specific timeline. Wei expressed gratitude for shareholder support, noting that TSMC's stock price has risen from NT$950 (approximately $31) at last year's shareholder meeting to NT$2,425 (approximately $80) as of the previous day, marking an impressive increase of over 150% in the past year. He shared that the company plans to increase this year's dividend to at least NT$24, a rise of over 30% compared to the previous year, asserting, "I am confident that TSMC's performance will continue to outperform the industry." Additionally, he projected that TSMC's revenue for 2025 would reach NT$3.8 trillion, a 31.8% increase from the previous year, and that the company expects to maintain over 30% revenue growth in dollar terms this year. Wei also expressed a commitment to enhancing employee compensation. In response to a shareholder's request for increased performance bonuses, he stated, "TSMC will definitely strive to improve employee welfare," noting that the average annual increase in employee bonuses over the past three years has exceeded 30% and expressing hope that this trend will continue. He concluded by stating, "We are continuously expanding our production capacity to support customer growth while ensuring that shareholders receive stable and sustainable investment returns," and emphasized the company's commitment to sustainable corporate responsibility and sound governance.* This article has been translated by AI. 2026-06-04 14:21:00

Bukwang Pharmaceutical Receives IND Approval for Lurasidone in Major Depressive Disorder Bukwang Pharmaceutical announced on June 4 that it has received approval from the Ministry of Food and Drug Safety for a Phase 3 clinical trial plan (IND) to expand the treatment indications for its schizophrenia and bipolar disorder medication, Lurasidone, to include major depressive disorder (MDD). The clinical trial will focus on adult patients with MDD who have not shown sufficient response to existing antidepressant monotherapy. A total of 364 participants will be involved in the study. The primary objective of the trial is to compare the change in scores on the Montgomery-Åsberg Depression Rating Scale after administering Lurasidone (20, 40, 60 mg/day) as an adjunct therapy for eight weeks against a placebo. The secondary objective will assess the safety and tolerability of the treatment in the same patient group. Bukwang Pharmaceutical believes this trial will expand treatment options for patients with limited responses to current therapies. The company continues to expand its central nervous system (CNS) product line, focusing on Lurasidone and Aripiprazole. According to the Financial Supervisory Service's electronic disclosure system, Lurasidone surpassed 10 billion won in sales last year. Sales increased significantly from 200 million won in 2024 to 10.9 billion won last year, with 3.3 billion won recorded in the first quarter of this year. A representative from Bukwang Pharmaceutical stated, "After the completion of the clinical trial, we plan to seek approval to add efficacy and effectiveness indications, which we expect will benefit patients with limited treatment options."* This article has been translated by AI. 2026-06-04 14:21:00

Defense Ministry Focuses on Restoring Wartime Operational Control and Building a 'People's Army' The Defense Ministry announced that it has consistently pursued the restoration of wartime operational control to establish a defense system led by the South Korean military, coinciding with the one-year anniversary of the Yoon Suk-yeol administration. The ministry emphasized its commitment to implementing a democratic and institutional control system to realize a 'people's army.' On June 4, the Defense Ministry provided a report detailing the government's achievements over the past year, stating, "We are working to visualize the prompt restoration of wartime operational control by verifying the Full Operational Capability (FOC) of the Future Combined Forces Command this year." Additionally, the ministry introduced a roadmap for accelerating the transition of wartime operational control, which is being developed this year. The government is working to finalize a roadmap that will serve as the 'standard' for the transition preparations before the upcoming South Korea-U.S. Security Consultative Meeting (SCM) this fall. Furthermore, the Defense Ministry has completed revisions to the Martial Law Act to strengthen the legislative oversight function to prevent a recurrence of the illegal martial law imposed on December 3. It has also institutionalized education on upholding constitutional values for all service members to enhance democratic awareness within the military. In a significant move, the ministry appointed a civilian as the Minister of Defense for the first time in 64 years since 1961 and expanded the appointment of civil servants to key positions, thereby achieving substantial civilian control. The Defense Ministry explained, "The Military Counterintelligence Command is also undergoing a major organizational restructuring to separate counterintelligence, security, and investigative functions, thereby dispersing concentrated authority and establishing a system of checks and balances." * This article has been translated by AI. 2026-06-04 14:21:00

Korea Technology Guarantee Fund Partners with IBK to Support SMEs with 750 Billion Won The Korea Technology Guarantee Fund (TGIF) has initiated financial support for small and medium-sized enterprises (SMEs) in future strategic industries and those facing policy financing gaps. On June 4, TGIF announced that it has signed two memorandums of understanding (MOUs) with the Industrial Bank of Korea (IBK): one for productive financial support for future strategic industries and another for financial support for companies in policy gaps. These agreements aim to facilitate funding for SMEs in future strategic industries, enhancing their financial accessibility and supporting their growth and advancement. Under the productive financial support agreement, TGIF will provide a total of 492.5 billion won in guarantee agreements, based on a special contribution of 9 billion won from IBK and a guarantee fee support of 5 billion won. Eligible companies include new technology businesses that meet TGIF's technology guarantee criteria and operate in six advanced strategic industries: artificial intelligence (AI), biotechnology, cultural content, defense, energy, and advanced manufacturing. Additionally, under the policy gap financial support agreement, TGIF will supply a total of 250 billion won in guarantee agreements, based on a special contribution of 5 billion won from IBK and a guarantee fee support of 2.55 billion won. Eligible companies for this support include new technology businesses in the materials, parts, and equipment sectors, root industries, small enterprises, startup graduates (those in business for more than 7 years but less than 12), companies undergoing restructuring or transitioning to new industries, and other firms recommended by IBK. Both agreements will provide benefits such as an increase in the guarantee ratio (from 85% to 100% for three years) and a reduction in guarantee fees (by 0.2% to 0.3% for three years). IBK will also offer guarantee fee support (from 0.5% to 1.5% for two years). Previously, TGIF signed an MOU with the National Federation of Fisheries Cooperatives to provide a total of 84 billion won in guarantee agreements to support SMEs in future strategic industries. Kim Jong-ho, the chairman of TGIF, stated, "This agreement strengthens the growth foundation for SMEs that will lead future industries and represents meaningful cooperation to address the gaps in policy financing. TGIF will continue to expand collaboration with financial institutions to enhance productive and inclusive finance, actively supporting the leap of innovative companies."* This article has been translated by AI. 2026-06-04 14:18:00

Hong Myung-bo's Team Secures 1-0 Victory Over El Salvador in Final World Cup Tune-Up Hong Myung-bo's team achieved a victory in their final warm-up match ahead of the 2026 FIFA North Central America World Cup. Under the guidance of head coach Hong Myung-bo, the South Korean national football team defeated El Salvador 1-0 in a friendly match held on June 4 (Korean time) at Brigham Young University's South Field in Provo, Utah. The decisive goal came from Lee Dong-kyung (Ulsan) via a free kick in the 57th minute. Following a 5-0 win against Trinidad and Tobago at the same venue on May 31, Hong's team concluded their final two warm-up matches before the World Cup with clean-sheet victories. Ranked 25th by FIFA, South Korea selected the 100th-ranked El Salvador as a sparring partner to adapt to the high-altitude conditions of their upcoming matches. This encounter took place at an elevation of 1,460 meters above sea level. Coach Hong made changes to the starting lineup, leaving Son Heung-min (LAFC) and Oh Hyun-kyu (Beşiktaş) on the bench. The attack was led by Hwang Hee-chan (Wolverhampton Wanderers), Cho Gue-sung (Midtjylland), and Lee Dong-kyung. The midfield featured Hwang In-beom (Feyenoord) and Lee Jae-sung (Mainz), while the wing-backs were Lee Tae-seok (Austria Wien) and Seol Young-woo (Crvena Zvezda). The three-man defense consisted of Lee Gi-hyeok (Gangwon FC), Kim Min-jae (Bayern Munich), and Lee Han-beom (Midtjylland), with Kim Seung-kyu (FC Tokyo) in goal. South Korea struggled against El Salvador's pressure in the first half, creating several attacking opportunities but failing to convert. At the start of the second half, Coach Hong utilized his first substitutions, bringing on Jo Wi-je (Jeonbuk Hyundai) for Lee Han-beom and Song Bum-keun (Jeonbuk) for goalkeeper Kim Seung-kyu. The breakthrough came in the 57th minute when Lee Dong-kyung drew a foul in the penalty area and took the free kick himself, striking the ball with his left foot into the near side of the net. After the opening goal, Coach Hong made eight substitutions in the 63rd minute, introducing Baek Seung-ho (Birmingham City), Kim Jin-kyu (Jeonbuk), Park Jin-seob (Zhejiang), Jens Castrop (Borussia Mönchengladbach), Lee Kang-in (Paris Saint-Germain), Oh Hyun-kyu, Son Heung-min, and Yang Hyun-jun (Celtic), while bringing Lee Jae-sung, Hwang In-beom, Kim Min-jae, Lee Gi-hyeok, Lee Dong-kyung, Cho Gue-sung, Hwang Hee-chan, and Seol Young-woo to the bench. Despite continued pressure from South Korea, the match ended with a score of 1-0. Having completed their pre-camp training schedule, Hong Myung-bo's team will travel to Guadalajara, Mexico, on June 6 for their group stage matches and base camp.* This article has been translated by AI. 2026-06-04 14:18:00

Meta Delays Launch of 'Muse Spark' API, Impacting AI Monetization Meta has reportedly postponed the launch of its latest artificial intelligence (AI) model's API multiple times. As the company continues to invest heavily in AI infrastructure, the delays are increasing pressure on its monetization efforts. According to the Wall Street Journal on June 3, Meta has repeatedly delayed the release of the API for its latest AI model, 'Muse Spark.' Alexandre Wang, Meta's Chief AI Officer, had indicated to developers in April that the launch was imminent, but no confirmed release date has been established. The API serves as a gateway for developers to integrate Meta's AI model into their applications or services. Companies like OpenAI and Anthropic have generated revenue by selling access to their APIs. For Meta, launching the developer API is crucial to recouping its investments in its AI model. Meta initially planned to release the API in April alongside the unveiling of Muse Spark. However, the schedule was pushed to May due to identified bugs during testing and the need for additional infrastructure. The release date has since been further delayed to June. In response to inquiries from the Wall Street Journal, Meta stated, "We are testing the API with partners and plan to launch it within this month." A company spokesperson added, "We know that people want the API, and we look forward to providing it." This delay is intertwined with Meta's financial burden from its AI investments. The company plans to invest up to $145 billion in AI infrastructure this year. CEO Mark Zuckerberg has outlined a goal to create AI agents for both individuals and businesses. Meta is also seeking ways to generate revenue from its investments. The company has announced plans to test a Meta AI subscription service and is considering a cloud computing business utilizing its surplus AI infrastructure capacity. However, the delayed API release means that a key monetization pathway remains unopened. Muse Spark is the model that powers Meta's AI chatbot and related features. Previous AI models released by Meta were available for developers to download and use as open-source. In contrast, Muse Spark is the first model for which the design and software files have not been made publicly available. Internal evaluations at Meta indicate that Muse Spark performs comparably to models from OpenAI and Anthropic. However, with the API release delayed, general developers still have limited access to utilize the model in their services.* This article has been translated by AI. 2026-06-04 14:18:00