Former mimiirose member Hyori releases duet single 'Neutron Star' SEOUL, May 21 (AJP) - Hyori, former member of K-pop girl group mimiirose, has released a new duet single, "Neutron Star," with rookie vocalist Yuni, her agency Pocket7 Entertainment said Thursday. The digital single was released on major streaming platforms on May 16. Neutron Star is a ballad that uses images of the night sky and outer space to describe longing for someone who has grown distant but still exerts an emotional pull. The track pairs Hyori’s delicate vocals with Yuni’s deeper tone, focusing on the contrast between the two female vocalists. The single marks Hyori’s first major release as a solo artist since mimiirose disbanded in April, signaling a shift in musical direction from her girl group era. Pocket7 Entertainment said Hyori is currently working on a solo album targeted for release in June. Neutron Star is available on major music streaming platforms. 2026-05-21 17:50:35

Director Lee Sang-yeob and Kim Jae-won Discuss 'Yumi's Cells' and Shin Sun-rok Every work contains numerous perspectives. Although the director and actors share the same space and time, their experiences may differ. 'Choi Song-hee's B-Cut' focuses on the vivid behind-the-scenes moments that go beyond the 'A-Cut' captured on screen. It reconstructs the 'B-Cut' moments that were even more intense than the completed frames through interviews with the director and actors. <Editor's Note> TVING's original series 'Yumi's Cells 3' (written by Song Jae-jung and Kim Kyung-ran, directed by Lee Sang-yeob) depicts the romance between Yumi (played by Kim Go-eun), now a star writer, and Sun-rok (played by Kim Jae-won), who unexpectedly enters her mundane life. Based on the webtoon of the same name, 'Yumi's Cells' has captured Yumi's life, love, and growth from its first season in 2022 to its third season in 2026.Director Lee Sang-yeob, known for his work on dramas such as 'Mr. Baek,' 'Shopping King Louie,' 'Revenge of Others,' 'A Wife Knows,' 'My Solo Love,' 'Half and Half,' and 'My Youth,' has guided 'Yumi's Cells' through all three seasons. The third season serves as the final chapter of Yumi's growth and love story, with Shin Sun-rok at its center. Kim Jae-won portrays Shin Sun-rok, Yumi's last love and the culmination of her long journey."It would be a lie to say I felt no pressure. It felt like being introduced as 'my boyfriend' by a precious daughter during a holiday gathering. Sun-rok is like a unicorn, a younger man without flaws. So, there was some pressure. But thinking back, it's an opportunity to play a fantasy-like role. I've always given my best in every project, but this time, I feel like I poured in 200% instead of 100%." (Kim Jae-won)Director Lee Sang-yeob noted that he saw Kim Jae-won's effort to manage that pressure. Rather than focusing on achieving perfect synchronization, he recognized Sun-rok's potential in Kim's attempt to maintain composure despite the tension."When Jae-won walked in, I thought, 'Oh? It's Sun-rok.' Being a rookie actor, he couldn't help but feel nervous. His efforts to hide that nervousness reminded me of Sun-rok. When I saw him sitting neatly, I thought, 'That's how Sun-rok would be,' and I found that endearing. I thought, 'If it's Jae-won, he can do it.'" (Director Lee Sang-yeob)The tone of the romance was crucial. Sun-rok needed to be youthful but not frivolous, affectionate but not overly sentimental. Kim Jae-won carefully calibrated Sun-rok's excitement while being mindful of this delicate balance."I thought it shouldn't be overly sentimental. As a younger man, he needs to convey love, but he must still appear masculine and evoke excitement without crossing into sentimentality. I determined that there's a fine line between sentimentality and excitement." (Kim Jae-won)What did Director Lee and Kim Jae-won find appealing about Sun-rok? Director Lee identified the character's core as 'twists,' while Kim Jae-won highlighted 'straightforwardness' as a key aspect of the character."I think the fundamental aspect is 'twists.' Even when there are twists, if there's no charm, it falls flat, but Sun-rok is genuinely honest and healthy. He has no prejudices. He is a wonderful young man who loves someone steadfastly and runs toward them, making him admirable as a man." (Director Lee Sang-yeob)"Sun-rok's greatest charm is his straightforwardness. Like the 'one-track general' cell in the series, once he decides, 'I love this woman,' and 'I will protect her for life,' he charges ahead without calculation. That's why he ends up marrying Yumi, right?" (Kim Jae-won)When did Sun-rok first develop feelings for Yumi? Kim Jae-won believes the answer lies in the second confession scene in the series. Despite trying to suppress his feelings due to the principle of maintaining a professional relationship, Yumi had already become an integral part of Sun-rok's life."In my interpretation, Sun-rok's journey is revealed when he says during the second confession, 'I think I liked the writer from the beginning.' That seems accurate. His feelings for Yumi grew, but due to the principle of not dating someone related to work, he forced himself to cut off his feelings. Perhaps he had a crush from the start and gradually became fond of Yumi through Kim Joo-ho. What began as curiosity turned into affection, and he may not have even realized how deep his feelings for Yumi had grown." (Kim Jae-won)Thoughts on the age difference between Yumi and Sun-rok were also discussed. Director Lee believes that the age gap enhances the dynamics of their relationship and adds to the drama's appeal, while Kim Jae-won noted that he focused on the romance without worrying about the age difference."Through seasons one and two, Yumi has matured, and in the original work, there aren't many conflicts in her relationship with Sun-rok. A drama needs conflict, but since there isn't any, we ultimately decided to introduce the keyword 'age gap.' The age difference was intended to add fun when Yumi has a crush on Sun-rok." (Director Lee Sang-yeob)"I didn't pay any attention to the age difference. Although I'm younger than Go-eun noona, she's such a lovely person that I approached the role with a mindset of loving her in reality. I was able to immerse myself in that feeling." (Kim Jae-won)'Yumi's Cells 3' consists of eight episodes, shorter than the previous seasons, which had 14 episodes each. While this brevity may be disappointing, the production team opted for a more concise conclusion to Yumi's growth, life, and love story."Seasons one and two had 14 episodes each, and I thought, 'Wow, that was long.' Haha. When we decided to conclude Yumi's story about growth and life, it raised many questions. We debated how many episodes to have. The final conclusion from the production team was, 'Even if it's disappointing, let's go with eight episodes.' We aimed to wrap up Yumi's story in an enjoyable way." (Director Lee Sang-yeob)"I can't control the number of episodes in the project. Haha. I also wondered why it was shorter than the previous series, but I think it's because Sun-rok, unlike previous characters, charges ahead once he is certain. Of course, a longer format would be great, but even in a shorter format, I believe I must give my best performance as Sun-rok." (Kim Jae-won)'Yumi's Cells' has been a series that follows not just a love story but also Yumi's journey to becoming the protagonist of her own life. For Director Lee, season three represents the conclusion of a work and a farewell to the viewers who have supported Yumi for so long."I am truly grateful. 'Yumi's Cells 3' would not have been possible without the love and support of the fans. The fans raised Yumi. Thank you for supporting, cheering, and applauding until the end. Every time I read comments saying, 'I was moved by the last scene,' I felt, 'The viewers share my feelings.' Thank you for being with us until now." (Director Lee Sang-yeob)"I believe 'Yumi's Cells' has taken a long journey from seasons one to three. I feel proud to have been part of it until the end. As a viewer who followed Yumi's perspective, I hope she lives happily." (Kim Jae-won)* This article has been translated by AI. 2026-05-21 17:49:07

The Strategic Importance of South Korea-Japan Cooperation Amid Global Tensions "If you don’t have teeth, you have to rely on your gums." This saying aptly describes the current situation for South Korea and Japan in light of international dynamics. While the North Korea-China-Russia coalition is solidifying, the once-stable U.S.-led alliance is showing signs of strain. Chinese President Xi Jinping and Russian President Vladimir Putin reaffirmed their commitment to strengthening strategic cooperation against the U.S. during a summit in Beijing this week. The two countries have already been closely aligned in military, economic, and diplomatic matters, and recent developments suggest an even deeper bond. Speculation about Xi's potential visit to North Korea further indicates that the North Korea-China-Russia alliance is gaining strength. The challenge lies in the fact that the trilateral cooperation among South Korea, the U.S., and Japan does not appear as stable as before. The most significant variable is undoubtedly the United States. Since taking office, the Trump administration has prioritized "America First," adopting a harsh diplomatic stance that has affected both allies and adversaries alike. Pressures for increased defense spending, tariff threats, and unpredictable foreign policy have created unease not only for South Korea and Japan but also for European allies. Furthermore, as the U.S. becomes embroiled in conflicts in the Middle East, concerns about its diminishing power are being raised. Amidst joint criticism of the U.S. and Japan by Xi and Putin, South Korea cannot afford to feel complacent. Of course, the U.S. power is not going to vanish overnight. Its military strength, dollar dominance, and advanced technological capabilities remain formidable. However, the core issue is trust. The essence of an alliance is not merely military might but the ability to rely on each other. With President Trump frequently calling for U.S. troop withdrawals, allies are finding it increasingly difficult to place their trust in the United States. In this context, the strategic importance of South Korea-Japan cooperation has never been greater. This week’s visit by Japanese Prime Minister Sanae Takaichi to South Korea underscores this significance. It represents a foundation for both countries to create a safety net for their survival, independent of reliance on the U.S. However, deep historical wounds and emotional rifts still exist in South Korea-Japan relations. Issues such as forced labor and comfort women cannot be easily dismissed. Yet, the international landscape is unforgiving. If South Korea and Japan remain mired in past grievances while North Korea, China, and Russia rapidly align under shared strategic interests, they risk suffering the consequences. Moreover, cooperation between South Korea and Japan is essential for future industrial competition. In key sectors like semiconductors, batteries, artificial intelligence, supply chains, and energy security, the two nations are both competitors and collaborators. As China seeks to expand its dominance over global supply chains through technological advancements, South Korea and Japan must work together to effectively respond. History repeatedly shows that nations that unite in times of crisis survive. The world is moving toward a new era of bloc formation. As North Korea, China, and Russia strengthen their alliances, a time is emerging when the U.S. can no longer be taken for granted. Consequently, South Korea and Japan can no longer afford to dwell solely on emotions and the past. As uncertainties surrounding the U.S. grow, cooperation between South Korea and Japan is evolving from an option to a survival strategy.* This article has been translated by AI. 2026-05-21 17:46:06

Wellmade Strengthens Summer Collection Amid Strong May Sales Sejong Group's fashion retail brand Wellmade is set to continue its strong sales momentum in the first half of the year by promoting the summer collection of its women's brand Daily List. According to Sejong Group on May 21, Wellmade has recorded a 34% increase in sales compared to the same period last year. The company's promotional events and online and offline campaigns during May, which is Family Month in Korea, have garnered positive consumer responses. Daily List also contributed to this sales growth, with its sales rising 27% year-over-year this month. Cumulatively, sales for the year have increased by 17%, driving strong performance in the first half. In response, Daily List is launching its '2026 Summer Collection.' This collection, themed 'Light Moves,' focuses on lightweight and comfortable wear for the summer season. It features premium materials to enhance practicality and seasonal appeal. Key items include a tape-point jumper and a hooded string jumper, both made from sheer materials and reflecting the mint core style. These products offer UV protection, making them suitable for everyday wear and outdoor activities. Additionally, the collection includes printed long-sleeve shirts, patterned collar dresses, string vests, and elastic half pants. Some items can be styled as coordinated sets. A Wellmade representative stated, "We aim to maintain the strong performance of the first half into the second half with this summer collection." Meanwhile, Wellmade's online sales surged by 65% last year. During the winter season, sales increased by 10% due to strong outerwear sales. Sejong attributes the improved performance to product planning tailored to the customer bases of its key brands, including Indian, Bruno Baffi, and Daily List.* This article has been translated by AI. 2026-05-21 17:43:45

America-first policy to outlast Trump, says his former chief of staff SEOUL, May 21 (AJP) - Former White House chief of staff Mick Mulvaney said the “America First” brand of economic nationalism and a more restrained U.S. approach to overseas engagement are likely to remain defining features of Washington’s policy landscape long after Donald Trump leaves office. Speaking at a luncheon hosted by the American Chamber of Commerce in Korea at the Grand Hyatt Seoul, Mulvaney said protectionism and economic nationalism reflect broader structural shifts that will shape U.S. policy for years to come. Mulvaney, who briefly served as acting White House chief of staff during Trump’s first term, offered a wide-ranging assessment of the second Trump administration, U.S. foreign policy, trade tensions and the future of the U.S.-Korea economic partnership before more than 120 executives and business leaders. The fireside chat was moderated by AMCHAM Chairman and CEO James Kim. Drawing on his experience in the first Trump administration, Mulvaney said he sees four long-term trends emerging from Washington that are likely to outlast Trump himself: entrenched protectionism and economic nationalism, growing reluctance among Americans to support prolonged overseas engagement, persistently elevated inflationary pressures and a greater willingness by Washington to intervene in strategic industries and private-sector markets. “These are not temporary developments,” Mulvaney said. The discussion also focused on the future of the U.S.-Korea economic partnership amid record bilateral investment and expanding cooperation in semiconductors, shipbuilding, energy, artificial intelligence and advanced manufacturing. Mulvaney highlighted Korea’s growing role as a strategic economic partner and regional innovation hub within the evolving U.S. policy landscape. Asked how Trump views Korea, Mulvaney joked that Trump “doesn't really trust anybody,” adding that the president tends to see even close allies as benefiting from U.S. security commitments. Mulvaney said Trump evaluates foreign countries largely through two lenses: defense spending as a share of gross domestic product and trade deficits with the United States. In that context, he said Korea was “not in the really really bad club,” noting that Trump had been more frustrated during his first term with some European countries that he believed spent too little on defense. At the same time, Mulvaney said Trump understands the geopolitical importance of countries such as Korea, Japan and Australia. Describing the U.S. presidency as “the most isolated job” in the world apart from perhaps the pope, Mulvaney said the version of Trump portrayed on NBC’s “The Apprentice” closely resembles the real person. Unlike many politicians, he added, Trump is not particularly pretentious. Asked how business leaders and foreign officials should deal with Trump, Mulvaney advised them to be direct and straightforward. “His bullshit-meter is really really sensitive,” he said after briefly apologizing to the audience for swearing. Mulvaney also said Trump prefers doing business with people he personally enjoys being around. He cited Shinzo Abe as one of the foreign leaders who managed Trump most effectively during his first term, saying Abe understood the importance of personal rapport and even played golf with Trump despite being “one of the worst golfers in my lifetime.” Mulvaney added that Trump had been “really upset” by Abe’s assassination. He contrasted Trump’s first and second presidential transitions, saying Trump did little preparation before his unexpected 2016 victory but spent four years planning personnel and Cabinet appointments ahead of his 2024 return. Looking ahead to the Nov. 3 midterm elections, Mulvaney said he does not expect the administration’s policy direction to shift significantly even if Democrats regain control of the House or Senate. He also warned that ongoing wars and geopolitical instability are unlikely to ease anytime soon, factors he said will continue shaping the global business environment. Mulvaney also dismissed claims that Trump’s tendency to leave sentences unfinished reflects mental decline, saying the president has “always spoken that way.” 2026-05-21 17:42:12

Energy Legislation Advances, Including Coal Phase-Out Support Legislation supporting the energy transition agenda of the Lee Jae-myung administration is advancing in the National Assembly. Key measures include a special law to support regions affected by coal plant closures, reforms to the Renewable Portfolio Standards (RPS), and amendments to three laws aimed at timely power grid construction. On May 21, Lee Ho-hyun, the Deputy Minister of the Ministry of Climate, Energy and Environment, held a briefing at the government complex in Sejong, stating, "Laws have been passed that will facilitate a just transition while enhancing local acceptance as we move toward a carbon-neutral energy mix. This is significant in establishing a regulatory framework to achieve our energy transition goals." The National Assembly's Climate, Energy, and Environment Committee approved 46 bills during a plenary session on May 19, including the 'Special Law on Support for Workers and Regions Affected by Coal Power Plant Closures' and amendments to the Renewable Energy Act. The coal plant closure support law addresses potential large-scale unemployment and economic downturns in regions affected by the closure of coal power plants. It focuses on institutional support for worker job transitions, employment assistance, and the development of alternative industries in these areas. The special law allows the national and local governments to prioritize the development of zero-carbon energy industries using the infrastructure of decommissioned coal power plants. It also mandates the establishment of local transition councils that include representatives of workers and residents to ensure their participation in the planning process for regional support. Notably, the law provides a basis for designating certain coal power plants as security power generation facilities instead of approving closure plans if deemed necessary for the reliability and stability of the power supply. The government has expressed concerns about job insecurity for workers, the impact on partner companies, and regional economic downturns as the closure of coal power plants accelerates in the transition to carbon neutrality. Several coal plants, including the Taean Unit 2 this year and the Hadong Units 1-3, Boryeong Units 5-6, and Samcheok Units 3-4 next year, are scheduled for closure. As a result, the government aims to minimize regional shocks during the closure process while maintaining the stability of the power supply. Deputy Minister Lee stated, "The principle is to phase out coal power by 2040, but we are considering a concept of security power that can be temporarily utilized in emergency situations, taking into account the power supply situation and regional conditions." He added, "A detailed roadmap for closure and compensation will be discussed in conjunction with the 12th Basic Plan for Power Supply and Demand." Additionally, the amendment to the Renewable Energy Act, which reforms the RPS system, has been passed. This amendment aims to gradually phase out the RPS system, which has been in operation since 2015, and transition to a long-term fixed-price contract market. Going forward, new renewable energy projects will be operated through a long-term fixed-price contract market based on capacity units. The existing 29 RPS obligated entities will be managed separately as eight public sector entities and 21 private sector entities. Moreover, amendments to three laws related to timely power grid construction (the Special Law on Power Grids, the Electricity Business Act, and the Act on Promotion of Power Generation Development) were also approved in this committee session. The amendments include provisions for private companies to construct certain sections of the national power grid and then transfer ownership to Korea Electric Power Corporation (KEPCO) under a Build-Transfer (BT) model. The government sees the need to leverage private capabilities as demand for the power grid surges due to the expansion of renewable energy and the growth of the artificial intelligence (AI) industry.* This article has been translated by AI. 2026-05-21 17:42:00

Kim Byung-man Apologizes for Arriving Late to Press Conference 코미디언 김병만이 TV조선 '생존왕2' 기자간담회에 지각한 것에 대해 사과했다. On May 21, comedian Kim Byung-man issued an apology for arriving late to the press conference for TV Chosun's "Survivor King 2." He posted a lengthy message on his social media, stating, "I am writing this to apologize for my tardiness at the production announcement due to my oversight." He explained, "I traveled from Jeju on May 19 to attend the press conference on May 20. I was preparing for the event and had scheduled morning activities, but I failed to consider the sudden weather changes and traffic conditions due to rain." Kim acknowledged, "I made the journalists wait, and as a result, my mistake caused a delay in the event schedule. I sincerely apologize for this and will be more careful in adjusting my schedule in the future." He added, "I apologize once again to everyone who experienced inconvenience and difficulties because of me. The entire staff and cast worked passionately on location in a remote area of Taiwan. I hope my oversight does not diminish expectations for the program. I appreciate your continued interest and support." On May 20, Kim Byung-man arrived over 20 minutes late to the press conference held at TV Chosun's Gasan studio in Geumcheon-gu, Seoul, sparking controversy.* This article has been translated by AI. 2026-05-21 17:39:19

High-End Apartment Transactions in Seoul Slow Down The high-end apartment market in Seoul has seen a decline in transaction values compared to a year ago. While transactions in key areas like Gangnam and Yongsan continue in the 10 billion won range, the trend of large transactions in the 20 billion to 30 billion won range has noticeably slowed down. An analysis of real transaction data from the Ministry of Land, Infrastructure and Transport revealed that the highest apartment transaction this year was for a 231.2798 square meter unit at 'Aeterno Cheongdam' in Gangnam, which sold for 2.18 billion won. In contrast, the highest transaction recorded in the past year was a 273.928 square meter unit at 'Acro Seoul Forest' in Seongdong-gu, which sold for 2.9 billion won last June. The average price of the top 10 transactions has also decreased. This year, the average price for the top 10 apartment transactions in Seoul was 1.2129 billion won, down from 1.6632 billion won from May to December last year. This represents a decrease of 450.3 million won, or 27.1%. The frequency of transactions exceeding 10 billion won has also declined. From May 22 to the end of last year, there were 22 transactions over 10 billion won, but only five have occurred by May 21 this year. The proportion of transactions over 10 billion won has dropped from 0.046% to 0.019% during the same period. However, some analysts suggest that the high-end market is not experiencing a complete downturn. Transactions in the 10 billion won range continue in core areas of Gangnam and Yongsan. Notable transactions this year include 'Nine One Hannam' in Yongsan, selling for between 14 billion and 15.7 billion won, 'Shinhyundai 11th' in Gangnam at 11 billion won, and 'Raemian One Pentas' in Seocho at 10 billion won. Regionally, Gangnam has shown a significant concentration of high-value transactions. Of the 27 transactions over 10 billion won in the past year, 17 occurred in Gangnam, followed by six in Yongsan, three in Seongdong, and one in Seocho. Expanding the scope to transactions over 5 billion won, Gangnam accounted for 253 transactions, while Seocho had 150, with Yongsan and Seongdong recording 30 and 29 transactions, respectively. In terms of specific complexes, 'Nine One Hannam' and 'Shinhyundai 11th' each had the highest number of transactions at five. 'Acro Seoul Forest' and 'Apgujeong Hyundai 6th and 2nd' each recorded three transactions. This indicates that the high-end market is primarily driven by emerging luxury complexes in the Hannam and Seongsu areas, as well as redevelopment projects in Apgujeong. Additionally, the expiration of the temporary suspension on capital gains tax for multiple homeowners is seen as a variable affecting the market. With increased tax burdens and land transaction regulations, buyers are becoming more selective in their pricing within the high-end market. A real estate industry official stated, "The high-end apartment market is experiencing a slowdown in transaction values rather than a complete halt. While high-value transactions continue in prime locations, the atmosphere of consecutive large transactions around 20 billion won, as seen last year, has weakened somewhat."* This article has been translated by AI. 2026-05-21 17:36:14

AJP Focus: Samsung strike on hold, but shareholders see a new battle beginning SEOUL, May 21 (AJP) - The chip lines at Samsung Electronics ran uninterrupted Thursday morning. What had been dreaded as the opening day of an unprecedented 18-day walkout instead turned into relief rally on the market after labor and management reached a last-minute settlement shortly before midnight. Samsung shares surged as much as 7 percent during trading and closed at a fresh record high as markets priced out the immediate risk of production disruption at the world’s largest memory-chip maker. But not all existing shareholders were pleased. Two separate shareholder advocacy groups staged demonstrations in Seoul on Thursday, arguing that the tentative wage agreement could severely undermine future shareholder returns and destabilize Samsung’s long-term financial structure if institutionalized. At the center of the controversy is the newly agreed compensation framework for semiconductor employees. Under the tentative deal, the union secured a structure that effectively allocates bonuses equivalent to 12 percent of operating profit — consisting of a 1.5 percent Overall Performance Incentive (OPI) and a 10.5 percent special management bonus for chipmaking divisions. According to consensus estimates compiled by FnGuide, Samsung Electronics is projected to post operating profit of around 348 trillion won ($252 billion) in 2026 amid the continuing global AI semiconductor boom. If the company executes the agreed formula in full, more than 41 trillion won could be recognized as labor compensation in a single year. For shareholders, the issue is not simply the size of the payout but its collision with Samsung’s existing capital return framework. Samsung previously pledged to return 50 percent of free cash flow generated between 2024 and 2026 to shareholders through dividends and share buybacks. But if tens of trillions of won are absorbed into operating expenses before profits flow into free cash generation, shareholder distributions could shrink sharply. Activist groups estimate the reduction in shareholder return capacity could exceed 15 trillion won. Industry experts note that while such a payout structuralizes financial risks, management faced an unavoidable dilemma regarding human capital. "From a financial perspective, 41 trillion won is an astronomical sum, equivalent to the capital required to build a massive, state-of-the-art semiconductor fabrication line," said Lee Jong-hwan, a professor of system semiconductor engineering at Sangmyung University. "However, Samsung's biggest fear right now is a 'domino-effect' drain of its core talent to SK Hynix or foreign competitors. From management's perspective, securing talent retention was likely deemed a safer, more urgent path for long-term survival than immediate infrastructure expansion." A small delegation from the “Korea Shareholder Movement Headquarters” gathered near the residence of Lee Jae-yong on Thursday, condemning what they described as an excessive inward transfer of corporate profits. Min Kyung-kwon, head of the organization, argued that the structure may violate Article 462 of South Korea’s Commercial Act governing dividend calculations. The group contends that distributing large-scale bonuses directly tied to pre-tax operating profit without shareholder approval amounts to what it called a “disguised illegal dividend.” The activists also questioned the sustainability of the formula during the semiconductor industry’s notoriously volatile downcycles. “Semiconductors are not a permanently booming industry,” one protester said during the rally. “If operating profit collapses during the next downturn, how can the company survive while structurally locked into massive payouts?” The group further criticized what it described as a widening disconnect between management, labor and shareholders, arguing that top executives themselves could indirectly benefit from profit-linked compensation structures while ordinary shareholders absorb the dilution in corporate value. Using ACT, an online minority shareholder platform reportedly containing around 13,000 verified Samsung shareholders, the activists are now preparing a potential nationwide class-action campaign. If Samsung’s board formally approves the tentative agreement, they say they plan to pursue breach-of-trust complaints against consenting directors and seek legal action to invalidate the board resolution. Elsewhere in Seoul, another shareholder organization calling itself the “Samsung Electronics Shareholder Action Practice Headquarters” held a parallel rally near Hangangjin Station in Yongsan District. That group framed the dispute less as a legal issue than a broader social and economic imbalance. Its members argued that highly paid workers in the semiconductor sector were demanding disproportionate rewards while many ordinary workers across South Korea continue to earn annual salaries below 30 million to 40 million won. The organization also renewed calls for the government to invoke emergency adjustment powers — a rarely used legal mechanism allowing authorities to suspend strikes temporarily in industries deemed vital to the national economy. The group argued that semiconductors should effectively be treated as strategic national infrastructure similar to police, electricity or transportation systems because of their central role in exports, employment and supply chains. Some members called for permanent legal restrictions on strikes within the semiconductor industry altogether, warning that prolonged labor instability could damage South Korea’s global competitiveness during a critical phase of the AI race. Furthermore, observers warn that the settlement could set a precedent that fundamentally alters the labor landscape across South Korean industries. "This deal could open the floodgates," Professor Lee warned. "Not only will non-memory units and other Samsung affiliates demand identical transparent, profit-linked bonus structures, but major automotive giants and their supply chain networks will face immense pressure from unions to replicate this formula. It triggers a nationwide structural shift in corporate profit distribution." For now, the immediate crisis has passed. Production remains stable. Markets have calmed. The feared supply-chain disruption that had alarmed investors, policymakers and global technology customers alike has been avoided. Yet the settlement appears to have exposed a deeper structural fault line inside corporate South Korea. The conflict is no longer confined to labor versus management. It is increasingly evolving into a three-way confrontation between labor, capital and shareholders over who ultimately owns the gains generated by the AI-era semiconductor boom. 2026-05-21 17:33:10

Seoul Mayoral Candidates Launch Campaigns Ahead of June 3 Election Jung Won-o of the Democratic Party and Oh Se-hoon of the People Power Party officially launched their campaigns for the Seoul mayoral election on May 21. The two candidates began a 13-day campaign across the city, engaging in a fierce contest for votes. On the first day of the official campaign, both candidates visited key locations at midnight. Jung went to the Dongseoul Postal Center in Gwangjin-gu, while Oh visited the Garak Agricultural and Marine Products Wholesale Market in Songpa-gu. Jung encouraged workers on the night shift and personally moved packages in the sorting area, while Oh greeted wholesalers and assisted with the auction of cabbage and radishes. Later, they traveled throughout Seoul to appeal for voter support. Jung held his official launch event at Wangsimni Station in Seongdong-gu, which he considers his political hometown, having served as the district's mayor for three terms. He emphasized that this election is about changing the capabilities of local government, urging citizens to vote for a revitalized local economy and a safer Seongdong. Following the launch, Jung continued campaigning near Konkuk University, at a bus terminal, and around Gangnam Station. He criticized Oh's safety awareness regarding the construction site of the GTX-A line at Samsung Station, where missing rebar was discovered. Jung claimed it was a clear case of poor construction, stating, "If Oh had been concerned about safety, this issue would have been reported to the mayor." Oh, after the sun rose, expressed his aspirations for the election in Samyang-dong, where he spent his childhood. He stated, "This election should call for a shift in the government's livelihood policies and serve as a warning to the Blue House against the path of dictatorship." Former lawmaker Yoo Seung-min, known for his centrist stance, joined Oh to lend support. Yoo remarked, "The candidate who prioritizes housing welfare for Seoul citizens should become the mayor, and I will actively assist Oh, who shares this vision." Oh then visited several districts, including Seodaemun, Yeongdeungpo, Guro, Seongbuk, and Dongdaemun, highlighting the government's failures in real estate policy that have led to a shortage of rental properties and skyrocketing rents. He urged voters to hold the government accountable for its real estate missteps. Oh concluded the first day of campaigning with a rally in Cheonggye Plaza during rush hour, before moving to Gangnam Station to wrap up the day's events. The official campaign period for the 9th nationwide simultaneous local elections, scheduled for June 3, lasts for 13 days until the day before voting on June 2. Early voting will take place over two days, on May 29 and 30. 2026-05-21 17:27:42