Hanwha Ocean Shares Rise Over 3% Following Major Shipbuilding Contracts Hanwha Ocean's stock has surged by more than 3% as the company continues to secure large shipbuilding contracts from shipowners in Africa and Europe, reflecting positive investor sentiment. As of 1:46 PM on May 11, Hanwha Ocean shares were trading at 130,100 won, up 3.17% (4,000 won) from the previous trading day, according to the Korea Exchange. The company announced that it has secured a contract for one LNG carrier (LNGC) from a European shipowner, valued at approximately 363.2 billion won, which represents 2.8% of its consolidated revenue from last year. This contract is an additional order from a shipowner who had previously ordered seven LNG carriers last year, with delivery scheduled by June 15, 2029. A Hanwha Ocean official stated, "The continuous construction of vessels with the same specifications is expected to enhance efficiency in design, procurement, and production, contributing to stable profitability." On May 4, the company also signed a contract with an African shipowner for three Very Large Ammonia Carriers (VLAC), valued at approximately 507.4 billion won, which accounts for 4.0% of its revenue. The completion date for this contract is set for January 15, 2030, with payments made according to construction progress.* This article has been translated by AI. 2026-05-11 13:55:59

Search Continues for Missing Elementary Student in Juwangsan National Park An 11-year-old elementary student has gone missing while hiking with his family in Juwangsan National Park in Cheongsong County, North Gyeongsang Province, prompting authorities to continue search efforts for a second day. According to Yonhap News on May 11, the boy, identified as A, was hiking with his family when he separated from them after visiting a temple in the park on the afternoon of May 10. He was last seen heading toward the summit. Concerned after A did not return for an extended period, his parents reported him missing to the fire department at 5:53 PM on May 10. A was reportedly hiking without a mobile phone. Upon receiving the report, police and fire officials immediately deployed personnel and equipment to search for the boy, but as of now, his whereabouts remain unknown. Reviewing closed-circuit television footage within the national park, authorities have found no indications of foul play. On the second day of the search, authorities have mobilized 96 personnel, one helicopter, and various search equipment to conduct a focused search in the Juwangsan area. A is described as approximately 145 cm tall with a slender build and was wearing a Samsung Lions uniform at the time of his disappearance. During police questioning, A's family mentioned that they had visited the area a year prior but had to turn back because he was struggling. They stated that on the day of his disappearance, he told them he would "just go a little further up" before heading off alone. Authorities confirmed, "We are conducting a joint search following the report of the boy's disappearance during his hike, and so far, no unusual circumstances have been identified."* This article has been translated by AI. 2026-05-11 13:54:25

CRAVITY: A Journey of Growth Through Change Every day, dozens of songs and works are created. Music, drama, and films are introduced through countless media, but what reaches the public is often less than half. The artists who sing and act face similar challenges. Despite their exceptional talents, they are frequently undervalued or go unnoticed. Artist Spotlight is a segment dedicated to introducing artists from various fields and exploring their growth. It is also a heartfelt tribute to these artists. Editor’s Note"Where is the flower that blooms without shaking?"Every record of growth is completed through moments of instability. This has been true for the group CRAVITY as well. The nine boys who debuted in 2020 as 'super rookies' have now entered a phase of redefining themselves rather than following a path laid out by others. Their rebranding with 'Dare to Crave' signifies that change is not merely about adopting a new facade. It involves acknowledging their own 'cravings' and cautiously stepping toward their desires. After a period of running forward, CRAVITY finally looks back at 'themselves.' Instead of erasing their instability, they embrace it as part of their identity. 'ReDeFINE' represents the most honest present CRAVITY has reached.CRAVITY is a nine-member boy group under Starship Entertainment. The group's name combines 'Creativity' and 'Gravity,' symbolizing the synergy of diverse members coming together to draw fans into their unique world. They also express their ambition to become the 'Center of Gravity' in the K-pop scene. Following their second studio album 'Dare to Crave,' interpretations of the name have evolved to include 'Crave' and 'Gravity,' reflecting a deeper meaning that now encompasses their inner drive. CRAVITY's narrative has gradually expanded within their albums. Their debut series 'HIDEOUT' depicted boys stepping into an unfamiliar world, discovering each other, and uniting through empathy. Their first full album, 'The Awakening,' spoke of subsequent enlightenment and breakthroughs. Their determination to not be halted by external pressures was expressed in the energetic track 'Gas Pedal,' while 'LIBERTY: IN OUR COSMOS' expanded the story to one of reclaiming freedom and hope through darkness. Following this, 'NEW WAVE' and 'SUN SEEKER' further highlighted the energy of youth and the quest for individual paths. The boys who once sought freedom and hope in an unfamiliar world have now grown closer to a more realistic portrayal of youth.This narrative has also translated into their performances and achievements. Despite debuting during the pandemic, CRAVITY swept several rookie awards and expanded their fandom through their self-produced reality show 'CRAVITY Park,' showcasing their dynamics and relationships. Their victory in 'Road to Kingdom: Ace of Ace,' their entry into a handball stadium five years after debut, and various performance awards demonstrate that they are not just a team that has endured but one that has proven itself through results. For CRAVITY, growth has been about enduring time and proving themselves on stage.The changes became particularly evident with their second studio album, 'Dare to Crave.' While previous works showcased the energy of boys racing toward an unfamiliar world, this album delves into the emotions that drive that energy. It centers on the cravings faced between escape and confrontation, capturing the desire to move forward even when one is unsure of what they want. All members participated in songwriting, and the introduction of unit formations marks a significant shift.This momentum continues through 'Dare to Crave: Epilogue' and into their eighth mini-album, 'ReDeFINE.' 'ReDeFINE' represents the most crucial present CRAVITY faces after rebranding. It tells the story of youth that acknowledges instability yet rises again. Rather than focusing on how to avoid falling, it illustrates how to rise after a fall, revealing where CRAVITY stands now and the mindset they carry toward the future.CRAVITY will continue to experience fluctuations in their journey. Nevertheless, they will not stop. Their ability to confront anxiety and find their place amid instability has shaped the CRAVITY we see today. 'ReDeFINE' is the album that best showcases this attitude. It reflects a present where they strive to maintain their identity even while navigating through uncertainty. Having traversed this journey, CRAVITY's current state has become even more complete. There is no flower that blooms without shaking. CRAVITY will ultimately embrace the next season.* This article has been translated by AI. 2026-05-11 13:48:34

UK and France to Host Multinational Defense Meeting on Hormuz Strait The United Kingdom and France are set to hold a multinational defense meeting aimed at restoring trade flows through the Hormuz Strait. According to a statement from the UK Ministry of Defence on May 10, UK Defence Secretary John Healy and French Minister of Armed Forces Sébastien Lecornu will co-chair the first defense ministers' meeting of a multinational mission involving over 40 countries on May 12. The meeting will be conducted via video conference and is expected to discuss military plans to protect navigation in the Hormuz Strait following a sustainable ceasefire. This follows a two-day military working group meeting led by the UK and France in London last month, which included participation from South Korea. Healy stated, "We are converting diplomatic agreements into actionable military plans to restore confidence in shipping through the Hormuz Strait." These discussions come as the UK and France deploy naval vessels to the region. Last weekend, France sent its nuclear-powered aircraft carrier Charles de Gaulle to the area, while the UK announced it would dispatch the destroyer HMS Dragon. Both nations described this deployment as a pre-positioning for an international mission to support maritime security. A spokesperson for the UK Ministry of Defence noted that the deployment of HMS Dragon is part of a careful plan to ensure the UK is prepared to assist in securing safety in the Hormuz Strait, should conditions allow. Meanwhile, Iran has reacted strongly to these plans. Iranian Deputy Foreign Minister Kazem Gharibabadi warned that any naval presence from the UK, France, or any other country in the region would face a decisive and immediate response. He asserted, "Only the Islamic Republic of Iran can establish security in this strait." However, President Emmanuel Macron of France clarified that France has no plans to deploy naval forces to the Hormuz Strait. He emphasized that France is considering a security mission coordinated with Iran and opposes any blockade from either side, rejecting any tolls on shipping traffic to ensure safe passage. The Hormuz Strait is a critical corridor for global energy transport. Before the onset of the US-Israel war against Iran on February 28, approximately one-fifth of the world's crude oil was transported through this strait. However, since the war began, Iran has effectively closed the strait, significantly disrupting oil shipments and leading to global market instability and soaring prices. In response, the US has initiated its own blockade of Iranian ports.* This article has been translated by AI. 2026-05-11 13:45:13

Customs Agency Intensifies Efforts to Secure Petrochemical Raw Materials Amid Middle East Tensions The Customs Agency has launched on-site inspections to address the instability in the supply of petrochemical raw materials resulting from prolonged tensions in the Middle East.On May 11, Lee Jin-hee, Director of the Customs Agency, visited the SK Geo Centric plant located in the petrochemical complex in Ulsan to evaluate the supply situation of key petrochemical raw materials such as naphtha and toluene, and to listen to the industry's concerns. This visit was organized to verify the effective implementation of the Customs Agency's customs and tax support programs in light of the increasing volatility in raw material supply due to the ongoing situation in the Middle East.The petrochemical industry is particularly sensitive to supply chain disruptions in the Middle East, given its high dependence on crude oil and naphtha imports. During the visit, a representative from SK Geo Centric explained that the blockade of the Strait of Hormuz has led to increased shipping costs due to the use of alternate routes, and that managing certificates of origin has become more burdensome during the diversification of supply chains.In response, Director Lee stated, "We can alleviate cost burdens by actively utilizing tax relief measures, such as excluding increased shipping costs from taxable prices, post-application for FTA tariff rates, and extending customs payment deadlines." He also focused on ensuring that recently implemented customs support policies, including 24-hour customs assistance for urgent demand items and pre-import customs clearance, are being appropriately utilized in the field.The Customs Agency plans to expand on-site inspections, particularly for items with unstable domestic supply, and to strengthen communication with the industry to enhance supply chain response capabilities. Director Lee emphasized, "In the current supply chain environment, it is crucial not only to secure quantities but also to ensure a swift connection to production. We will operate the system flexibly around businesses to prevent delays in the customs process and will listen to feedback from the field to make immediate improvements where necessary."He added, "The stable supply of petrochemical raw materials is directly linked to the maintenance of national industries, so we will strengthen cooperation with relevant ministries to minimize factors contributing to supply instability."* This article has been translated by AI. 2026-05-11 13:42:23

Judge Ji Gwi-yeon Questioned by Anti-Corruption Agency Over Room Salon Allegations Yoon Suk Yeol's former chief judge in the insurrection case, Ji Gwi-yeon of the Seoul Northern District Court, has been summoned for questioning by the Anti-Corruption and Civil Rights Commission (ACRC) over allegations related to a room salon. According to legal sources on May 11, the ACRC questioned Judge Ji as a suspect on May 7 regarding charges of bribery and violations of anti-corruption laws. This marks the first time Judge Ji has faced questioning since the ACRC initiated a forced investigation six months ago in November of last year. Judge Ji made headlines in March 2023 when he ruled that the detention period for former President Yoon Suk Yeol, who was arrested on charges of insurrection and abuse of authority, should be calculated based on time rather than date, leading to significant criticism from opposition parties. In May of the same year, the Democratic Party released a photo allegedly showing Judge Ji seated with two companions at a bar in Gangnam, which was said to be a room salon where female employees provide entertainment. This revelation sparked controversy. During the trial of former President Yoon for insurrection, Judge Ji denied all allegations, stating, "The claims made are not true, and I have never considered being entertained. Above all, that era is over. No one even buys you pork belly and soju anymore." However, civic groups, including Candlelight Action, filed complaints against Judge Ji for bribery and violations of anti-corruption laws. The ACRC assigned the case to its investigation division, led by Chief Prosecutor Lee Dae-hwan, and obtained a search warrant from the court in November to seize Judge Ji's taxi app usage records, initiating a forced investigation. The Supreme Court's Ethics Office also began an investigation into the allegations but concluded in September that "it is difficult to recognize a connection to his duties." Judge Ji, who presided over the first trial of former President Yoon's insurrection case and sentenced him to life imprisonment in February, has since been reassigned to the civil division at the Seoul Northern District Court.* This article has been translated by AI. 2026-05-11 13:39:23

Labor Minister Kim Young-hoon Welcomes Samsung Labor Adjustment Process Kim Young-hoon, the Minister of Employment and Labor, expressed his support on May 11 for the initiation of post-adjustment procedures by the Central Labor Relations Commission, following an agreement between Samsung Electronics and its labor union. He urged both parties to approach the adjustments with a sense of social responsibility, in line with Samsung's motto of being "Another Family, Samsung." During a policy review meeting at the Government Sejong Center, Minister Kim stated, "Just as Samsung Electronics has become a world-class company through technology, it should also set a new standard in labor relations." Previously, the Samsung Electronics labor union had been negotiating with management since December of last year, demanding the elimination of the cap on performance bonuses. However, after failing to reach an agreement, the union declared a breakdown in negotiations and announced plans for a general strike starting on May 21. In this context, the Samsung Electronics mega union will participate in the post-adjustment procedures at the Central Labor Relations Commission on May 11 and 12, following mediation by labor authorities. Minister Kim also noted on his social media platform X earlier that morning, "Today marks the start of the hard-won post-adjustment process for Samsung Electronics. I thank both labor and management for their decisions. While this adjustment may not be easy, the solution may already be closer than we think." The Ministry of Labor plans to support Samsung Electronics and its labor union in finding common ground through dialogue and compromise. Minister Kim emphasized, "We must build a labor relationship that transcends individual interests and fosters mutual growth. I hope this situation sparks active social discussions on the appropriate sharing and distribution of corporate performance, and the government will provide support for this."* This article has been translated by AI. 2026-05-11 13:20:03

Neowiz Reports 1st Quarter Operating Profit of 7 Billion Won, Down 32% Year-on-Year Neowiz reported growth in revenue due to the performance of its live intellectual property (IP) games, but its operating profit fell 32% compared to the same period last year. Increased revenue from mobile games led to higher platform fees and revenue sharing costs. On May 11, Neowiz announced that its consolidated revenue for the first quarter of 2026 reached 101.4 billion won, a 14% increase year-on-year. However, operating profit dropped to 7 billion won, a decrease of 32% from the previous year. The net profit for the period was 15.5 billion won. The first quarter saw stable revenue growth driven by the success of key live IPs. Revenue from the PC and console gaming segment was 39.5 billion won, up 9% year-on-year. However, it fell 14% compared to the previous quarter due to a decline in initial sales effects from 'Shape of Dreams' and 'P's Lie: Prelude.' 'P's Lie' maintained sales momentum following a global discount event in March, while 'Shape of Dreams' continued to perform well after surpassing cumulative sales of 1 million copies. Mobile game revenue reached 51.4 billion won, a 13% increase from the previous year. 'Brown Dust 2' saw some revenue from its 2.5th anniversary event in the previous quarter carried over into the first quarter. Additionally, a successful live event and special skin promotion held in March helped maintain traffic. The web board game segment benefited from regulatory easing in February, leading to a rebound in average revenue per paying user (ARPPU). Other revenue totaled 10.5 billion won, marking a 45% increase year-on-year. Despite the increase in revenue across Neowiz's PC, console, and mobile gaming segments, operating profit decreased by 32% year-on-year and 48% compared to the previous quarter. The decline in operating profit was attributed to increased variable costs associated with higher mobile game revenue. Neowiz explained that the growth in revenue from mobile games like 'Brown Dust 2' and web board games resulted in higher platform fees and revenue sharing costs. Looking ahead to the second quarter, Neowiz plans to continue its growth trajectory with global events and fan activities centered around key IPs such as 'Brown Dust 2' and 'DJ Max Respect V.' The official sequel to 'Cat and Soup,' which has surpassed 80 million global downloads, was launched globally on April 28. New projects have also entered full development stages. According to Neowiz, the next installment of 'P's Lie' is currently focused on enhancing the overall gameplay experience and quality. Development is ongoing for 'Project CF,' 'Project Rubicon,' and 'Project Windy.' The mobile game 'Kingdom 2' is in its final stages of development, aiming for an early release in the second half of the year. Additionally, the publishing lineup includes the upcoming release of 'Hello Seoul: Itaewon Edition' in the second half of the year, along with new titles from overseas developers Wolf Eye Studio and Zakazane. Meanwhile, in accordance with its mid-to-long-term shareholder return policy announced in January, Neowiz executed a shareholder return of approximately 12 billion won, equivalent to 20% of last year's consolidated operating profit of 60 billion won. This included cash dividends of about 6 billion won and the buyback and cancellation of treasury shares worth approximately 6 billion won.* This article has been translated by AI. 2026-05-11 13:18:24

Jung Cheong-rae Reaffirms Commitment to Victory in Gangwon Ahead of Local Elections Jung Cheong-rae, leader of the Democratic Party, reaffirmed his commitment to winning the local elections on May 11, emphasizing the need for unity among candidates for Gangwon governor and local council members. He urged that they must work together for the future of both South Korea and Gangwon Province. At a candidate selection meeting in Chuncheon, Jung stated, "Our slogan and banner for the June 3 local elections is 'Normalization of the Nation and Efficient Local Government.'" He expressed the need to move away from the "abnormal" conditions experienced under the previous administration, which he described as a period marked by oppression of the opposition and attacks on Lee Jae-myung. Jung highlighted the importance of effective governance, saying, "Just as President Lee has demonstrated remarkable administrative capabilities and exceptional diplomatic skills, our promise is to create a local government that works as effectively as the President's administration." He stressed that all levels of government, from the President to local governors and council members, must unite to shape the future of South Korea and Gangwon Province. Specifically addressing Woo Sang-ho, the Democratic candidate for Gangwon governor, Jung remarked, "He is the man sent by the President, who understands the President's thoughts and governance philosophy better than anyone else." He expressed confidence that Woo would be the key to unlocking a significant leap forward for Gangwon Province. Jung concluded by expressing his gratitude for Woo's candidacy, stating, "I am truly fortunate and happy to have Woo as our candidate. Let us move forward together on the path to prosperity for South Korea and a resurgence for Gangwon Province."* This article has been translated by AI. 2026-05-11 12:17:35

Special Prosecutors Investigate Prosecutors Over Allegations of Covering Up Deutsche Motors Case The second special prosecution team, led by Special Prosecutor Kwon Chang-young, is investigating prosecutors from the Seoul Central District Prosecutor's Office over allegations of covering up the stock manipulation case involving Kim Geon-hee and Deutsche Motors. The special prosecutors are focusing on whether there was any interference from the prosecution leadership or the presidential office during the decision not to prosecute Kim. On the morning of May 11, the special prosecutors summoned Choi Jae-hoon, head of the Daejeon District Prosecutor's Office's Major Economic Crimes Investigation Unit, and Kim Min-goo, head of the Financial Investigation Division at the Seoul Southern District Prosecutor's Office, as witnesses. Both are key prosecutors who handled the Deutsche Motors stock manipulation investigation at the Seoul Central District Prosecutor's Office's Anti-Corruption Investigation Division 2. Choi Jae-hoon stated upon his arrival at the special prosecutors' office at around 9:40 a.m., "As the sixth lead prosecutor handling this case, I have never received any improper instructions or external pressure during the investigation. I conducted the investigation rigorously based on evidence and legal principles, leading to the final decision." He added, "The investigation has been ongoing for about ten months, from the special prosecution into Kim Geon-hee last year to the current comprehensive special prosecution. Being left as a subject of investigation constitutes a significant violation of human rights, so I urge for a swift conclusion to the investigation." In contrast, Kim Min-goo did not respond to reporters' questions about why the non-prosecution document was prepared in advance as he headed into the interrogation room. The special prosecutors are investigating whether there was undue pressure during the decision not to prosecute Kim Geon-hee regarding the allegations of stock manipulation involving Deutsche Motors. The Anti-Corruption Investigation Division 2 of the Seoul Central District Prosecutor's Office concluded that Kim Geon-hee had merely entrusted her account to former Deutsche Motors chairman Kwon Oh-soo and was unaware of any market manipulation activities, leading to a non-prosecution decision for violations of the Capital Markets Act. Notably, during a search and seizure operation in March at the Supreme Prosecutors' Office, the Seoul Central District Prosecutor's Office, and Gongju District Prosecutor's Office, the special prosecutors reportedly secured the non-prosecution document believed to have been drafted by Kim Min-goo. They suspect that the conclusion not to prosecute may have been internally decided before Kim Geon-hee was questioned in a closed session at the presidential security office in July of the same year, with the document's revision date pinpointed to May 2024. Additionally, the special prosecutors are investigating whether the presidential office or the prosecution leadership influenced the investigation team based on evidence that Kim Geon-hee inquired about her investigation status via a Telegram message to former Justice Minister Park Sung-jae in May 2024. There are also ongoing inquiries into allegations that Lee Chang-soo, the former head of the Seoul Central District Prosecutor's Office, sent a message to the investigation team suggesting they consider a not guilty verdict, to determine whether there was any involvement from the leadership at that time. The investigation team maintains that they made the non-prosecution decision based on sufficient evidence and testimonies, asserting that there was no external pressure. They claim that the disputed non-prosecution document was merely an internal document to review potential arguments and was saved during the handover process in personnel changes.* This article has been translated by AI. 2026-05-11 12:15:29