Kolon Industries Reports 1st Quarter Operating Profit of 98.8 Billion Won, Up 158.3% Year-on-Year ㈜코오롱 announced on May 15 that it recorded sales of 1.5188 trillion won, an operating profit of 98.8 billion won, and a net loss of 44.7 billion won for the first quarter of 2026. Compared to the same period last year, sales increased by 7.7% and operating profit rose by 158.3%, although the net loss persists. Its subsidiary, Kolon Industries, saw both sales and operating profit rise year-on-year, driven by the success of its operational efficiency (OE) projects and strong sales growth in the industrial materials and chemicals sectors. Kolon Global, another subsidiary, experienced a slight decline in sales compared to the previous year, but significantly increased its operating profit due to enhanced site management and improved cost ratios. Kolon Mobility Group also reported growth in both sales and operating profit, benefiting from strong sales of premium imported vehicles. The net loss was attributed to increased valuation losses related to convertible bonds due to the rise in Kolon TissueGene's stock price. Kolon Industries' manufacturing division is expected to continue its profitability-focused growth, supported by ongoing operational efficiency efforts and an increased share of high-value products. Kolon Global recorded new orders worth 404.4 billion won in the first quarter, marking a 19% increase from the same period last year. Meanwhile, Kolon Industries is concentrating on strengthening its competitiveness through initiatives centered around its research and development (R&D) hub, the Kolon One&Only Tower. These initiatives include reorganizing the R&D team, expanding AI-based R&D processes, and enhancing its intellectual property portfolio.* This article has been translated by AI. 2026-05-16 00:15:32

Kim Geon-hee Faces 7 Years and 6 Months in Prison for Corruption Charges The special prosecutor's team, led by Min Jung-ki, has requested a prison sentence of 7 years and 6 months for Kim Geon-hee, who is accused of receiving expensive gifts in exchange for favors related to personnel and business dealings. The special prosecutor characterized Kim's actions as a form of corruption exploiting her status as the spouse of the president, emphasizing the need for severe punishment. During a hearing on May 15 at the Seoul Central District Court, the special prosecutor's team requested the court impose a sentence of 7 years and 6 months along with a fine of 56.36 million won. They also sought the confiscation of luxury items, including a painting by Lee U-hwan, a gold turtle, a Van Cleef & Arpels necklace, and a Dior bag, which were reportedly received by Kim. The special prosecutor stated, "The spouse of the president is expected to maintain the highest standards of integrity and restraint. Kim has repeatedly exploited her influence as the president's spouse to engage in private transactions for personal gain." They further asserted that she effectively reduced the state's public authority and influence to mere commodities, committing acts of corruption rarely seen in constitutional history, yet she continues to deny the allegations, claiming they were merely gifts from acquaintances. They stressed that "severe punishment is unavoidable." Kim, dressed in a black suit, appeared in court with a stern expression, keeping her head down throughout the proceedings. When asked by the special prosecutor about her wearing jewelry received from Lee Bong-kwan, the chairman of Seohui Construction, she largely declined to answer. Kim stated, "I have been taking psychiatric medication for a long time, and there are many parts I do not remember due to my health issues. I will exercise my right to refuse to testify, as I might provide incorrect information." She has been indicted for allegedly receiving luxury items worth approximately 100 million won, including a Van Cleef & Arpels necklace and a Tiffany & Co. brooch, from Lee Bong-kwan between March and May 2022 in exchange for personnel favors for her son-in-law, Park Seong-geun, who was the former chief of staff to the prime minister. The special prosecutor also reported that Kim received a gold turtle worth 2.65 million won from Lee Bae-yong, the former chair of the National Education Commission, in April 2022 in exchange for a request for an appointment. In September of the same year, she allegedly received a Vacheron Constantin wristwatch valued at 39.9 million won from robot dog entrepreneur Seo Seong-bin in return for business support. Additionally, between June and September 2022, she is accused of receiving gifts worth 5.4 million won, including a Dior bag, from Pastor Choi Jae-young in connection with public service duties, and in February 2023, she allegedly received a painting by Lee U-hwan valued at 140 million won in exchange for a request for nomination from former chief prosecutor Kim Sang-min. In contrast, Kim's defense team maintains that most of the gifts were simple presents without any expectation of return or were merely for purchasing on her behalf. They argued that the Van Cleef & Arpels necklace was a congratulatory gift for her election and inauguration, the gold turtle was a token of gratitude, and the wristwatch was simply a purchase on her behalf. They also claimed that there was no evidence that Kim received the painting by Lee U-hwan. Previously, the special prosecutor sought prison sentences of 1 year for Lee Bong-kwan, 1 year for Lee Bae-yong, 1 year and 6 months for Seo Seong-bin, and 4 months for Pastor Choi Jae-young, who were also indicted in the case. The court is scheduled to hold a sentencing hearing for Kim on June 26.* This article has been translated by AI. 2026-05-16 00:10:43

Counterterrorism Center to be Reformed into National Counterterrorism Headquarters The government is reforming the Counterterrorism Center, currently under the Prime Minister's office, into the National Counterterrorism Headquarters. On May 15, a final report meeting of the public-private counterterrorism task force was held at the Government Seoul Building, chaired by Prime Minister Kim Min-seok, where the reform was confirmed. The National Counterterrorism Headquarters will serve as a central control tower overseeing and coordinating government-wide counterterrorism activities. Plans include expanding the recruitment of private experts, implementing a long-term employment system, and enhancing preventive and response systems using technologies such as artificial intelligence (AI), data analysis, and drones. In the event of a terrorist incident, a unified command system led by the police will ensure efficient responses. Additionally, new threats such as drone and unmanned aerial vehicle risks will be explicitly categorized as types of terrorism, and the criteria for defining terrorism will be clarified. The National Counterterrorism Committee will be granted the authority and procedures to directly designate and declassify domestic terrorist organizations. The training and education system will also be improved. Furthermore, plans will be pursued for regional joint national training, central-local cooperation bodies, reflecting field demands for counterterrorism equipment, establishing budget coordination systems, and building strategic cooperation with key overseas institutions. Prime Minister Kim stated, "New types of risks continue to increase, including traditional terrorist threats, the spread of extremism in online spaces, crimes motivated against unspecified individuals, and risks utilizing new technologies such as drones. We will create a national response system that proactively addresses the changing terrorism environment so that citizens can feel safe in their daily lives."* This article has been translated by AI. 2026-05-16 00:09:00

Kyobo Life Reports 60.7% Increase in Q1 Net Profit to 458.7 Billion Won Kyobo Life Insurance continued to improve its performance in the first quarter of this year, driven by increased sales of health and protection insurance and rising investment profits. On May 15, Kyobo Life announced that its consolidated net profit for the first quarter was 458.7 billion won, up 173.3 billion won, or 60.7%, from 285.4 billion won in the same period last year. The standalone net profit was 330.1 billion won, a 4.7% increase from 315.3 billion won a year earlier. Both insurance and investment profits contributed to this performance improvement. The insurance profit for the first quarter was 184.8 billion won, a 13.3% increase from 163.1 billion won in the same period last year. The steady growth in sales of protection products, including health insurance, and the introduction of new products tailored to customer demand, such as health insurance for seniors and chronic patients, enhanced product competitiveness. Investment profits also showed improvement. The investment profit for the first quarter was 259.4 billion won, up 7.1% from 242.3 billion won a year earlier. The company responded to interest rate volatility by actively trading long- and short-term bonds and preemptively incorporating high-quality assets. A rebalancing strategy that adjusted the stock and alternative investment portfolio according to market conditions also contributed to the increase in investment profits. The foundation for future profits has also expanded. The standalone new contract CSM (Contractual Service Margin) for the first quarter reached 415.9 billion won, a 61.6% increase from 257.3 billion won in the same period last year. This growth was influenced by the increase in sales of protection insurance, leading to a rise in profitable new contracts. Cumulative CSM also showed an upward trend. By the end of the first quarter, the cumulative CSM was 6.6869 trillion won, up 2.7% from 6.5110 trillion won at the end of last year. This increase reflects the rise in new contract CSM as well as the effects of stock price increases related to variable insurance.* This article has been translated by AI. 2026-05-16 00:06:21

Orion Reports 26% Increase in Q1 Operating Profit Driven by Overseas Growth Orion has reported a double-digit improvement in performance for the first quarter of this year, driven by growth in its overseas subsidiaries.The company announced on May 15 that its consolidated operating profit for the first quarter reached 165.5 billion won, a 26% increase compared to the same period last year. Revenue rose 16% to 930.4 billion won.The growth was primarily attributed to overseas subsidiaries in China, Vietnam, and Russia. The Chinese subsidiary reported sales of 409.7 billion won, a 24.8% increase, benefiting from the peak season of the Lunar New Year and increased sales of key products such as potato snacks, pies, and jelly. Operating profit in China surged 42.7% to 79.9 billion won.In Vietnam, the subsidiary continued its growth trend, driven by seasonal demand during the Tet holiday and the impact of new products. First-quarter sales reached 151.3 billion won, with operating profit increasing by 25.2% to 26.6 billion won.The Russian subsidiary saw a 34.7% increase in sales to 90.5 billion won, with operating profit rising 66.2% to 14.2 billion won, thanks to expanded production capacity for products like Choco Pie and Fresh Pie and enhanced dedicated products for various distribution channels. The Indian subsidiary, now in its fifth year of local sales, recorded a 67% increase in revenue, reaching 9.8 billion won.Despite sluggish domestic demand, a decrease in sales partners, and rising prices of key raw materials, the Korean subsidiary achieved slight growth. First-quarter sales were 283.4 billion won, up 0.4%, while operating profit increased by 4.6% to 48.5 billion won.Orion plans to continue its growth trajectory in the second half of the year by expanding production facilities both domestically and internationally. The Korean subsidiary will enhance production lines for Poca Chips and nachos to meet summer snack demand. In China, the company aims to accelerate its efforts in key growth markets in the central and southern regions, including Guangzhou.In Vietnam, a newly established snack and candy production line at the Hanoi Yen Phong factory will begin full operations to increase product supply. In Russia, the company plans to double the production capacity of its rapidly growing Choco Pie line. India will also see additional production lines for Choco Pie and custard.An Orion official stated, "With investments in domestic and international production and logistics facilities, we expect to accelerate our growth in the second half as supply volumes increase."Additionally, due to the increase in overseas sales of confectionery, Orion's total assets reached 5.143 trillion won last year, marking its first inclusion in the Fair Trade Commission's designated large business group this year.* This article has been translated by AI. 2026-05-16 00:03:26

Citibank Reports Record Q1 Profit of 132.8 Billion Won Citibank Korea announced on May 15 that it achieved a net profit of 132.8 billion won in the first quarter of this year. This marks a 61% increase compared to the same period last year, reaching the highest level in eight years.Total revenue for the first quarter was 330.5 billion won, a 23% increase year-over-year. This growth was largely driven by a 77% rise in non-interest income from corporate finance, including foreign exchange, derivatives, and securities-related earnings.Interest income fell to 104.2 billion won, a 26% decrease from the previous year. The net interest margin (NIM) dropped to 2.01%, down 0.36 percentage points from 2.37% in the same quarter last year.Total loans decreased by 5% to 9.7741 trillion won due to the gradual phase-out of the consumer finance sector. However, total deposits rose by 16% to 21 trillion won, driven by growth in the corporate finance sector.Citibank plans to continue expanding corporate loans and securities this year to sustain the upward trend in both interest and non-interest income.Yoo Myung-soon, CEO of Citibank Korea, stated, "Despite the challenging market environment characterized by geopolitical conflicts and increased volatility in interest and exchange rates, we achieved our best quarterly performance since 2018. This success is a result of significantly enhancing non-interest income in our core business areas, including foreign exchange, capital markets, and securities services."* This article has been translated by AI. 2026-05-16 00:00:40

Power Ultimately Tests Humanity History is often said to repeat itself, but more accurately, it is human nature that recurs. Across different eras, human nature remains remarkably consistent. The desires, pride, face-saving, and emotions surrounding power are strikingly similar to those we see today. The story of Yi Seong-gye, the founder of the Joseon Dynasty, and the Lee An-sa family, a powerful local elite in Jeonju during the late Goryeo period, illustrates this point. Regardless of its factual accuracy, the enduring nature of this tale is not solely due to its mythic origins. It encapsulates the age-old political dynamics of power, humanity, jealousy, fear, and survival. According to this narrative, the Lee An-sa family was a significant local force in Jeonju. One day, a conflict arose between this local power and the central authority. At the heart of the dispute was a beautiful courtesan, which sparked issues of pride and emotion. While the story is anecdotal and its veracity cannot be confirmed, its underlying structure is intriguing. It represents not merely a love affair but a struggle for dominance in the region. Central power always claims legitimacy, asserting that it upholds order by royal decree. However, local elites have long held the trust of the people, land, economic resources, and networks. If the power from the center is merely paper authority, then the local elite represents power on the ground. The clash between the two was perhaps inevitable—a confrontation between local elites and central authority. Power, despite the passage of time, remains astonishingly similar. History often moves not by grand ideologies but by human emotions. Pride provokes power, and face-saving escalates conflicts. In the Goryeo period, a rumor that “royal energy flows from the ancestral graves” could lead to the downfall of a family, illustrating this dynamic. While such beliefs may seem absurd today, in an era lacking scientific advancement, geomancy was not merely superstition; it was a framework for understanding the world and a quasi-science explaining political realities. When deciding on a capital or constructing royal tombs, people sought to interpret the will of heaven and the energies of the earth. In such times, the phrase “the king is in my grave” was not just a rumor; it was a political attack and sometimes a weapon threatening survival. When human jealousy and the fear of power intertwine, personal emotions can quickly transform into public violence. Thus, the story of the Lee An-sa family’s grave desecration and their flight becomes even more symbolic. Whether the tale is true or not, it reflects the desperation of a family forced to uproot itself for survival. Relocating ancestral graves is not merely a move; it involves shifting the very foundation of life, memory, and family history. Ultimately, this family, once pushed to the periphery, would find itself at the center of a new dynasty. The oppressed become the powerful, and the periphery becomes the center—a historical irony. What is fascinating is how history tests humanity in this manner. Power often conceals individuals, only to reveal their true nature at critical moments. Desires, character, restraint, and limits that were invisible during ordinary times become starkly apparent at the threshold of power. Today's politics are not much different. During election seasons, politicians' pasts are scrutinized. Long-forgotten remarks, youthful mistakes, and personal conflicts resurface for public judgment. Some claim injustice, while others argue that these are old matters. Both perspectives hold some truth. Everyone has immature phases and makes mistakes. The issue is not the mistakes themselves but what kind of person emerges after those experiences. Power is a test of humanity before it is a test of ability. People do not only read campaign platforms; they observe how candidates respond in crises, how they treat others in conflicts, whether they evade or accept responsibility, and if they can exercise restraint in the face of emotions. A leader's qualities are often revealed more in uncomfortable moments than in grand speeches. Reflecting on this, the criteria by which communities choose their leaders have not changed significantly over time. People in the Goryeo period likely asked, “Can we trust this person with power?” Today’s voters pose a similar question. The reason the Lee An-sa tale endures to this day is rooted in this very conflict of pride and emotion that unfolded in a tavern in Jeonju during the late Goryeo period. * This article has been translated by AI. 2026-05-15 23:58:16

BC Card Reports 65% Increase in Q1 Net Profit to 58.1 Billion Won BC Card significantly increased its net profit in the first quarter of this year. Although revenue from card-related services declined, a reduction in provisions and growth in proprietary card and interest income contributed to the rise. On May 15, BC Card announced that its consolidated net profit for the first quarter reached 58.1 billion won, a 65.2% increase from 35.2 billion won in the same period last year. Operating profit also rose by 19.0% to 42.5 billion won during the same timeframe. However, revenue from the core card acquisition business decreased. BC Card's revenue from card acquisition operations fell to 654.4 billion won, down from 676.6 billion won a year earlier. Income from member service fees and ancillary business fees also declined. In contrast, revenue from proprietary card fees increased to 16.8 billion won, up from 13.6 billion won in the previous year, while interest income expanded to 32.3 billion won. The reduction in expense burdens also positively impacted performance. The provision for credit losses in the first quarter was 3.6 billion won, a significant decrease from 12.8 billion won in the same period last year. As a result, despite the limited growth in operating revenue, both operating profit and net profit improved. Financial stability remained at a solid level. At the end of the first quarter, the adjusted equity capital ratio was 29.44%, slightly up from 29.28% at the end of the previous year. The ratio of delinquent loans increased to 1.17% from 1.11% at the end of last year, but still maintained a level in the low 1% range. The liquidity ratio in Korean won stood at 131.04%.* This article has been translated by AI. 2026-05-15 23:55:30

Tensions Rise Over Seoul Mayoral Debate as Candidates Clash Tensions are escalating between Oh Se-hoon, the People Power Party's candidate for Seoul mayor, and Jung Won-o, the Democratic Party's candidate, over a proposed debate. Oh stated on May 15 in Gangdong-gu, "I suggested a debate to discuss how to address citizens' inconveniences, but I received no response from Jung. He is refusing all debates and only willing to engage in press conference-style discussions." He criticized Jung as an "irresponsible candidate who does not consider the public's right to know." Following a meeting with former President Lee Myung-bak, Oh reiterated his stance, saying, "It is contradictory for Jung to advocate for a policy election while avoiding debates." He expressed agreement with Jung's call for a policy-focused campaign but emphasized that debates are essential for such discussions. In response, Jung urged Oh to reflect on his own statements, asserting that he will only participate in legally mandated debates as defined by election law, which requires at least one debate. Jung also pointed out that Oh's shifting positions are more concerning than the debates themselves. After a press conference at the National Assembly, he remarked, "A month ago, Oh claimed that 'TV debates are not everything' and refused to debate his opponents in the primary. Framing the situation differently now is not trustworthy." Meanwhile, Oh continues to propose additional debates. The day before, at a forum hosted by the Korea Chamber of Commerce and Industry, he stated, "I would be willing to participate in a debate moderated by Democratic Party leader Jung Cheong-rae on Kim Eo-jun's program. I hope at least one or two debates can be held, regardless of the time, place, or topic."* This article has been translated by AI. 2026-05-15 23:52:04

Bithumb Reports $869 Million Loss in First Quarter Amid Market Challenges In the first quarter of this year, Bithumb reported a transition to a loss, attributed to external factors such as global economic uncertainty and a downturn in the virtual asset market. On May 15, Bithumb announced that its net loss for the first quarter reached 86.9 billion won (approximately $69 million). The decline in performance is largely due to prolonged investor sentiment dampened by geopolitical instability in the Middle East and rising interest rate pressures, leading to a significant drop in trading volume. Bithumb's average daily trading volume for the first quarter was $647.31 million, a 55% decrease compared to the same period last year. Additionally, losses from asset valuations and costs associated with regulatory actions contributed to the shift to a net loss. Domestic virtual asset exchanges rely heavily on transaction fee revenue, which accounts for 99% of their income, making reduced trading volumes directly correlate with deteriorating financial results. Bithumb plans to focus on optimizing its cost structure and enhancing platform competitiveness to adapt swiftly to market conditions. A Bithumb representative stated, "We will strengthen our internal capabilities while enhancing service competitiveness to establish a foundation for sustainable growth in anticipation of a market rebound."* This article has been translated by AI. 2026-05-15 23:49:52