SK On Transitions Tennessee Battery Plant to Independent Operation SK On has completed the restructuring of its battery joint venture, BlueOval SK, with Ford and has transitioned its Tennessee plant to an independent operation. On May 21, SK On announced that it has rebranded the former BlueOval SK Tennessee plant as SK On Tennessee and has entered a phase of sole operation. As a result of this restructuring, SK On will fully own and operate the Tennessee plant, while the two Kentucky plants under BlueOval SK will remain owned and operated by Ford. SK On anticipates that the conclusion of the joint venture will reduce its debt burden by approximately 54 trillion won. Given the current high-interest environment, the company expects to save about $18 million (approximately 27 billion won) annually in interest costs. Additionally, the annual depreciation costs associated with the Kentucky plants, estimated at around 33 billion won, are also expected to decrease. A representative from SK On stated, "This restructuring of the joint venture will strengthen our financial structure and enhance the efficiency of our production operations in the U.S. We aim to actively respond to changes in the North American market based on our newly secured independent production base." In the first quarter of this year, SK On reported revenues of 1.7912 trillion won and an operating loss of 349.2 billion won. However, with the recent acquisition of 284 megawatts (MW) out of a total of 565 MW in the bidding for the second ESS (Energy Storage System) central contract market, combined with the end of the joint venture, the company expects to see improvements in its performance both domestically and internationally.* This article has been translated by AI. 2026-05-21 19:48:24

Yang Hyang-ja Launches Campaign for Gyeonggi Province Governor, Promises 100,000 Jobs Yang Hyang-ja, the People Power Party candidate for Gyeonggi Province governor, held a campaign launch event in Suwon on May 21, officially kicking off her campaign for the June 3 local elections. At the event near Paldalmun, Yang expressed her determination, stating, "We are beginning our journey to find our three dreams," which include the dream of Gyeonggi Province, the dreams of youth and children, and the aspirations of the People Power Party. To achieve the dream of making Gyeonggi Province a 'world-class economic city,' she promised to reach a per capita Gross Regional Domestic Product (GRDP) of 100 million won. Her plan involves transforming the region into a hub for semiconductors, artificial intelligence, materials, components, equipment, biotechnology, information technology, cultural tourism, and advanced industries. Yang also unveiled her vision to create 100,000 jobs with an annual salary of 100 million won, aiming to attract young people to Gyeonggi Province to pursue their dreams. Additionally, she expressed her commitment to restoring the glory of the People Power Party, which she believes is loved by all. After the event, she visited Nammun Market, appealing to merchants by saying, "I will create a Gyeonggi Province that generates wealth." Meanwhile, on May 18, Yang began a hunger strike in front of the Samsung Electronics Pyeongtaek Campus, urging a labor-management agreement. Samsung Electronics reached a tentative agreement late on May 20 after failing to reconcile differences over performance bonus criteria. Following this development, Yang ended her hunger strike and shifted her focus to active campaigning.* This article has been translated by AI. 2026-05-21 19:45:57

Combatting Fake News: Platforms with 1 Million Users and 100,000 YouTubers Targeted The Broadcasting and Media Commission (BMC) has unveiled a revised enforcement decree of the Information and Communications Network Act aimed at curbing the illegal distribution of false information. The key points of the revision include targeting platforms with an average daily user count (DAU) of over 1 million and specifying criteria for increased damages applicable to creators with over 100,000 subscribers. On May 21, the BMC held a discussion on the revised enforcement decree at the Broadcasting Hall in Mokdong, Seoul, focusing on systematic responses to false information. A major point of contention is the definition of a "large-scale information service provider." The BMC has set the threshold for regulation at platforms with a DAU of over 1 million in the past three months. Shin Young-kyu, head of the BMC's Broadcasting and Telecommunications User Policy Bureau, explained, "We chose DAU over monthly active users (MAU) due to its social impact and existing legislative precedents." The regulation will apply to social networking services (SNS), online communities, video-sharing platforms, and open markets that facilitate information exchange among users. Shin noted, "Private conversations, such as KakaoTalk group chats, are not included, but open chat rooms are subject to regulation." The criteria for increased damages will also be limited to revenue-generating information publishers with a certain level of influence. The enforcement decree defines those who earn income from delivering facts and opinions through advertisements or sponsorships and have posted information at least three times in the last three months. For SNS creators, including those on YouTube and Instagram, the threshold is set at 100,000 subscribers and a minimum of 100,000 views in the previous three months based on content virality standards. Additionally, the role of the "Transparency Center," which is being promoted as a key support organization for responding to false information, was also a significant topic of discussion. The BMC plans to operate the Transparency Center as a hub connecting the government, platforms, and fact-checking organizations. In line with the revised Information and Communications Network Act, the government will not directly assess the authenticity of posts or decide on their removal. Instead, the focus will be on supporting private fact-checking and platform self-regulation both technically and administratively. The Transparency Center will also analyze "transparency reports." The BMC intends to review the number of reports and processing cases published by platforms, as well as the outcomes of appeals, to evaluate the effectiveness of responses to false information. The BMC plans to gather public feedback on the legislative proposal until May 27, followed by regulatory review and committee approval in early to mid-June, with a goal of obtaining Cabinet approval by the end of June.* This article has been translated by AI. 2026-05-21 19:43:23

Huh Tae-jung Criticizes Lee Jang-woo's Campaign Promises Ahead of Local Elections Huh Tae-jung, the Democratic Party's candidate for Daejeon mayor, criticized Lee Jang-woo, his opponent from the People Power Party, on May 21, stating that he only has "absurd campaign promises and no achievements." He urged voters to judge the remnants of past turmoil in the upcoming local elections on June 3. Speaking at a campaign launch event in Daejeon's Eunjeong Cultural Street, Huh declared, "I will restore the collapsed citizens' rights and focus on people's livelihoods," adding, "I will be a mayor who serves the citizens, not one who rules over them." He called on supporters to make June 3 a day of victory for himself, district mayors, and council members. Jung Cheong-rae, the Democratic Party's campaign chair, praised Huh, saying, "Those who have experienced leadership do it well," referring to Huh's previous roles as a district mayor and his work in the Blue House. He emphasized that if voters entrust the position to Huh, he would perform even better than during his past tenure. Additionally, Jung expressed his affection for Huh by creating a short poem, stating, "Huh Tae-jung loves Daejeon like a mountain. He will work hard. Please vote for him." 2026-05-21 19:40:20

eBay Japan Launches K-Beauty Corner at Seven-Eleven Japan eBay Japan's online marketplace Qoo10 Japan is partnering with Seven-Eleven Japan to expand the offline sales of K-Beauty products. On May 21, eBay Japan announced that it will introduce a K-Beauty curation corner called 'Qoo10 Pick' in Seven-Eleven stores across Japan starting in September, with some locations excluded. Since September of last year, Qoo10 Japan has been testing the sale of K-Beauty products in select Seven-Eleven stores. During this trial, eight brands and 24 products were showcased, and based on the results over the past year, Qoo10 Pick will officially launch in late September. Qoo10 Pick will feature a selection of popular K-Beauty brands that have gained traction on the Qoo10 platform, allowing Japanese consumers to purchase trending K-Beauty products conveniently at their local convenience stores. An eBay Japan representative stated, "As demand for K-Beauty in Japan has surged, consumers are increasingly looking for easy and convenient ways to experience these products." The Qoo10 Pick section will offer limited mini-sized products and exclusive color items. Initially, brands such as Skin&Lab, Growers, and 23 Years Old will be featured, with plans to gradually expand the brand and product lineup based on consumer feedback and sales data. Dedicated display stands will also be installed in the stores. Kim Soo-ah, head of eBay Japan's Korean Sales Division, expressed optimism about the collaboration, stating, "We expect that this partnership will allow Japanese consumers to experience K-Beauty in their daily lives. We will support the growth of K-Beauty brands through various online and offline initiatives." Currently, Qoo10 Japan is a platform utilized by approximately 25 to 28 million Japanese consumers. It holds over 30% market share in the Japanese online beauty market and has maintained double-digit growth for eight consecutive years, particularly among women aged 10 to 30.* This article has been translated by AI. 2026-05-21 19:37:56

Ostem Pharma Expands CMO Business with Focus on Data Integrity Ostem Pharma is accelerating the expansion of its contract manufacturing organization (CMO) business while proactively ensuring data integrity. The company leverages its experience in producing and supplying its own pharmaceutical products, along with advanced manufacturing infrastructure, to embed the regulatory requirement of quality integrity into its digital systems. On May 21, Ostem Pharma announced that it is strengthening its production infrastructure and quality management systems at its pharmaceutical manufacturing facility in Osong, North Chungcheong Province. The company has developed and produced dental anesthetics, antibiotics, and anti-inflammatory drugs, accumulating quality management expertise, and has proactively secured data integrity (DI), which has become increasingly important in the pharmaceutical industry. Data integrity refers to the preservation of original data generated during the pharmaceutical manufacturing process, ensuring that it remains unaltered and free from manipulation or omissions. In the pharmaceutical sector, DI is considered a critical indicator of drug safety and efficacy, as well as a key measure of customer trust. Ostem Pharma has connected all processes from raw material receipt to finished product shipment through a digital quality management system, applying designs that prevent data manipulation and omissions to enhance the reliability of the manufacturing process. The company is also refining its quality assurance (QA) and quality control (QC) systems to improve both production efficiency and quality, focusing on minimizing regulatory and supply risks for its clients. Additionally, Ostem Pharma plans to pursue approval for essential medicines that are often subject to supply instability, particularly pain relievers. If successful, the company anticipates securing approval for pain relief ingredients by next year, contributing to the pharmaceutical supply chain. As certain ingredients, such as pain relievers, are linked to supply instability, it is crucial for domestic pharmaceutical companies to establish backup production capabilities. This not only ensures continuity in healthcare delivery but also aligns with the government's policies on stable pharmaceutical supply. Concerns have grown in the market as commonly used prescription medications, including pain relievers, cold medicines, and laxatives, have repeatedly faced shortages. According to data from the Ministry of Food and Drug Safety, there were 147 reports of supply interruptions for designated essential medicines from 2020 to August of last year. A total of 473 items have been identified as essential medicines. An Ostem Pharma representative stated, "Our manufacturing competitiveness is based on rigorous quality management capabilities. We aim to position ourselves as a business partner that can enhance both cost competitiveness and quality for our clients."* This article has been translated by AI. 2026-05-21 19:36:00

CKD Pharm Golden Ticket Event Held in Boston to Expand Global Open Innovation CKD announced on May 21 that it held the "2026 CKD Pharm Golden Ticket" event at the LabCentral Center in Boston on May 20, awarding the "Golden Ticket" to the biotech company Arpelos Biosciences. The "CKD Pharm Golden Ticket" is a sponsorship program hosted by CKD and operated in collaboration with LabCentral, a key institution in the Boston-Cambridge biotech cluster. The program provides promising biotech startups with opportunities to join LabCentral and access a global network, evolving into a global open innovation platform that proactively identifies early-stage innovative technologies. Open innovation is recognized as a strategy that reduces the risks of drug development and secures promising biotech technologies in advance. The event was attended by CKD Vice President Kim Jae-soon, CKD USA Corporate Director Kim Ho-won, Consul General of Boston Kim Jae-hwi, and Kim Hyun-cheol, Director of the Korea Health Industry Development Institute's U.S. branch. Arpelos Biosciences, selected for this year's award, is an early-stage biotech company founded in 2024. It is focused on developing next-generation treatments for autoimmune diseases based on artificial intelligence (AI)-driven protein engineering, T-cell biology, and multi-therapeutic development technologies. This year, approximately 50 biotech startups from various fields, including immunology, neuroscience, tumor and cancer immunotherapy, ophthalmic diseases, and AI-based research platforms, applied for the program, with three finalists competing for the award. LabCentral is a nonprofit organization managed by the Massachusetts state government and serves as a global incubator for biotech startups. It has supported over 344 early-stage companies to date, resulting in 1,846 patents and 171 clinical trial outcomes as of 2025. A CKD representative stated, "The Golden Ticket is an important gateway for proactively discovering promising biotech companies, and we aim to create tangible collaborative results through the expansion of our global network and joint research and development."* This article has been translated by AI. 2026-05-21 19:33:24

Kang Jae-seon of CHA Biotech Receives Ministerial Award on World Clinical Trials Day CHA Biotech announced on May 21 that Kang Jae-seon, Executive Director of Clinical Operations, received a ministerial award from the Ministry of Health and Welfare during the '2026 World Clinical Trials Day' ceremony held on May 20. World Clinical Trials Day commemorates the comparative clinical study conducted by British physician James Lind in 1747 to treat scurvy, highlighting the importance of clinical trials and honoring the contributions of researchers. This year's ceremony, organized by the Ministry of Health and Welfare and the National Clinical Trial Support Foundation, took place at the Dongdaemun Design Plaza (DDP) in Seoul under the theme 'Collaborative Innovation for Global Clinical Trials for Better Treatments.' Kang Jae-seon is responsible for clinical development operations at CHA Biotech, driving global commercialization efforts. He has led various domestic and international clinical trials for multiple indications at the Mokam Biotech Research Institute and GC Green Cross, guiding them through approval and product launch. Kang stated, "Cell and gene therapies (CGT) present new possibilities for treating cancer and rare, intractable diseases. We will continue to achieve development results in areas with significant unmet medical needs, such as recurrent glioblastoma and premature ovarian failure." Meanwhile, CHA Biotech is building its cell therapy technology and production infrastructure based on a cell library applicable to various diseases. The company currently holds over 80 related patents and is advancing the development of cell therapies targeting intractable diseases. Recently, CHA Biotech has accelerated its collaboration for global market entry by signing a memorandum of understanding (MOU) with Yonsei University's Biohealth Technology Holding Company to foster startups in the biohealth sector.* This article has been translated by AI. 2026-05-21 19:31:00

Hanmi Science Launches Dermacosmetic Brand 'ADESII' to Expand Beauty Business Hanmi Science, the holding company of Hanmi Group, announced on May 21 that it has launched the dermacosmetic brand 'ADESII' as part of its strategy to penetrate the beauty market. As the dermatological science-based dermacosmetic sector becomes a key pillar of K-beauty, the company is well-positioned to enter the market, leveraging its existing pharmaceutical raw material technology and the trust associated with its pharmaceutical background. ADESII is a premium dermacosmetic brand that emphasizes skin science and efficacy-driven design, built on Hanmi Group's pharmaceutical research and development capabilities. The brand highlights advanced technology, dermatological science, and efficacy clinical trials as its core concepts, focusing on ingredient formulations tailored to skin structure to demonstrate skin improvement effects. Notably, it emphasizes the ability to feel results within two weeks, which is half the skin turnover cycle. The first product launched is the 'Black Pearl PDRN Neo Serum.' According to the company, this product has been shown to improve skin elasticity and density, and its safety has been confirmed through low-irritation testing. The key ingredient is the patented 'H-EGTI,' a complex material that combines the natural amino acid 'EGT,' known for its antioxidant properties, with the plant-derived flavonoid 'Resistress.' This formulation is designed to maximize the skin's resistance to external stimuli and oxidative stress. Following this launch, the company plans to sequentially expand its product line to include offerings for whitening, wrinkle reduction, and lifting. A Hanmi Science representative stated, "We designed the formula based on pharmaceutical processes to ensure that consumers can directly experience skin changes. We aim to strengthen our brand presence in the dermacosmetic market."* This article has been translated by AI. 2026-05-21 19:28:31

Celltrion Implements Comprehensive Measures to Enhance Shareholder Value Celltrion announced on May 21 that it will implement a series of measures, including a stock split, share buybacks, and the acquisition of shares by its largest shareholder, to enhance shareholder value and reassess corporate value. This comprehensive response plan follows the company's review of strategies to improve shareholder value in light of recent market changes, as disclosed on its website on May 19. The measures aim to bolster both corporate and shareholder value. For the second consecutive year, Celltrion will conduct a stock split, allocating 0.05 new shares for every common share held, totaling approximately 10.92 million shares. The new shares are expected to be listed on June 30. Additionally, the company plans to buy back shares worth 100 billion won (approximately 55,000 shares). This follows a previous share buyback and cancellation of about 1.8 trillion won (approximately 9.11 million shares). By combining share buybacks with cancellations, Celltrion aims to address short-term market volatility while increasing shareholder returns in the long term. If the current buyback is completed by the end of the year, the total cancellation for 2026 is projected to reach around 2 trillion won. The company has already canceled approximately 3.43 million shares in 2024 and about 4.97 million shares in 2025, bringing the cumulative cancellation over three years to approximately 18.56 million shares, or about 8.4% of the total issued shares. Celltrion Holdings, the largest shareholder, and Celltrion employees will also participate in enhancing shareholder value. Celltrion Holdings plans to acquire additional shares worth about 100 billion won, and the employee stock ownership association will conduct its 12th stock subscription. Celltrion believes that its export-focused business structure and treatment-centered portfolio will limit the impact of external environmental changes. The company stated that its sensitivity to exchange rate and economic fluctuations is low, reducing the risk of fundamental deterioration. The comprehensive market response policy reflects the company's confidence in future growth. Celltrion has established a stable revenue base with 11 biosimilar products currently sold in the global market, and sales of high-revenue new products have increased by 67% compared to the same period last year, achieving the highest first-quarter performance to date. The company is focused on strengthening its business competitiveness and securing a sustainable growth foundation, with plans to quickly disclose its second-quarter results. Celltrion Group's shareholder return policy continues to be robust. The company announced record-high dividends last year, stating, "We will continue to pursue a balanced approach to our mid- to long-term growth strategy and shareholder return policy, becoming a representative company that achieves sustainable growth." Moving forward, it plans to enhance shareholder value through tax-exempt dividends and cash dividends. A Celltrion representative stated, "Despite macroeconomic uncertainties, we will maintain stable growth based on solid fundamentals and will continue to expand our shareholder-friendly policies to enhance corporate value."* This article has been translated by AI. 2026-05-21 19:23:47