People Power Party Criticizes Lee Over Ship Attack Response People Power Party officials criticized the Lee Jae-myung administration on May 11 for its lack of commitment to protecting citizens' safety and property in light of the recent attack on the HMM Namuho vessel in the Strait of Hormuz.During a Supreme Council meeting at the National Assembly, Jang Dong-hyuk, the party leader, stated, "Lee Jae-myung brought up fake news to attack Israel, yet remains silent after our ship was hit." He emphasized that Iran, which should have been included in the government's initial investigation report on the attack, was notably absent. Jang pointed out that while former President Donald Trump acknowledged the attack, the South Korean government insisted the likelihood of an attack was low. Now that the attack has been confirmed, he criticized the government for refusing to speculate on the assailants.Jang also noted that Iranian state television had reported that a South Korean vessel was targeted. He remarked, "The perpetrator has confessed, yet the victim is being denied." He accused the current administration of having financially supported Iran, suggesting that the funds may have been used to launch the drone that attacked the Namuho.He expressed concern for the safety of the 160 crew members aboard the Namuho, stating, "In this critical situation, the president is posting about real estate on social media at midnight." He questioned, "What exactly is Lee Jae-myung doing?"Regarding the reintroduction of heavy taxation on multiple homeowners, Jang criticized the administration's handling of the real estate crisis, saying, "With no available jeonse (long-term lease) options and soaring monthly rent prices, the president finds one line about allowing gap investment in a sea of articles and posts it on social media at night. There are no answers to the hundreds of articles pointing out the lack of available properties, the disappearance of jeonse, and the skyrocketing rent prices."He added, "The same goes for Jeong Won-o, the candidate for Seoul mayor. No matter how many times I ask about the abolition of heavy taxation, the increase in property taxes, or the elimination of long-term holding tax exemptions, they cannot provide an answer."Jang warned that if Lee and Jeong were to form a coalition, it would mark the peak of the real estate crisis in Seoul, declaring, "This local election is about ending Lee Jae-myung's real estate tyranny in the region."Song Eon-seok, the party's floor leader, commented on the Namuho attack, stating, "The government's response to this critical security issue has been too slow and dismissive." He accused the government and ruling party of focusing more on clearing Lee's name through special investigations than on protecting citizens.Regarding the government's real estate policies, Song noted that aside from a few ultra-luxury apartments in Gangnam, the balloon effect is spreading throughout most of Seoul and surrounding areas like Seongnam, Gwangmyeong, Hanam, and Gwacheon. He pointed out that the supply of jeonse has drastically decreased, while the proportion of monthly rent has reached an all-time high. He warned that if additional property tax increases are pushed through, ordinary citizens will fall into a real estate hell.He added, "Homebuyers without properties are completely blocked from purchasing homes due to loan regulations, and tenants are being pushed into a crisis of jeonse shortages and soaring monthly rents. Those who own homes face tax burdens, while those without homes must endure the collapse of jeonse and the burden of rising monthly rents."* This article has been translated by AI. 2026-05-11 11:00:04

Investing Semiconductor Surplus into AI for Future Growth Kim Yong-beom, head of the Presidential Policy Office, highlighted the potential for unprecedented surplus tax revenue over the next two years, driven by the semiconductor boom. The expansion of industrial profits, particularly from Samsung Electronics and SK Hynix, is expected to lead to increased corporate taxes, higher income taxes from high-income workers, and a rise in trade surpluses, significantly enhancing financial capacity. He also pointed out the structural limitations of existing revenue forecasting methods, which fail to keep pace with industrial cycles, and called for more flexible fiscal management. The core issue here is not merely the increase in tax revenue but the choice of how to allocate the potential surplus. Surplus tax revenues often come with political temptations, leading to competing demands for short-term economic stimulus, cash support, and local business expansion. However, the financial capacity created by the semiconductor boom is characterized more by its volatility as a 'temporary income' rather than a structurally sustainable resource. This necessitates a change in approach. Past experiences illustrate this well. During the semiconductor boom of 2021-2022, surplus tax revenues were generated, but the fiscal response was inadequate, leading to a tax shortfall when the market declined. The structural issue of revenue and budget lagging behind actual industrial cycles has been confirmed. If the same approach is taken this time, the outcomes are likely to repeat. Therefore, this financial capacity should not merely serve as a basis for increased spending but as an opportunity to transform the economic structure. Given that the semiconductor boom is closely linked to the growing demand for artificial intelligence (AI), it is reasonable to reinvest these gains into future industries. Squandering this opportunity on consumer spending would be a significant misstep. The global economy is rapidly shifting toward AI. Data centers, cloud computing, autonomous driving, and robotics all rely on high-performance semiconductors. This semiconductor boom should be viewed not just as a market rebound but as a structural change resulting from the proliferation of AI. This perspective leads to a clear direction. The benefits of the semiconductor boom driven by AI demand should be reinvested into AI and future industries. First, urgent investments in data centers and power infrastructure are needed. The AI industry requires vast amounts of power and computational resources. Global competition is already shifting toward the ability to build data centers and supply power. Without comprehensive infrastructure investments, including transmission networks, power stability, and cooling technologies, the country risks falling behind in competition. Second, continuous investment in talent and research and development (R&D) is essential. Both semiconductors and AI are fields where technological gaps directly translate into national competitiveness. Given the difficulty of catching up in the short term, long-term and stable funding is required. Allocating temporarily secured financial capacity toward future technology accumulation is the most efficient choice. Third, expanding the industrial ecosystem is crucial. The current structure is heavily focused on large corporations. However, the AI era necessitates an ecosystem that connects software, design, equipment, and data industries. Financial resources should be used as a catalyst to encourage private investment. Building a foundation is more effective than direct intervention. Of course, the need for expansionary fiscal policy itself should not be dismissed. The role of fiscal policy in responding to economic fluctuations remains important. However, the direction is key. Expansionary fiscal policies that stimulate short-term consumption are likely to yield only temporary effects. In contrast, a fiscal approach centered on investment in future industries enhances growth potential and strengthens national competitiveness. Another critical point not to overlook is volatility. The semiconductor industry is inherently cyclical. Assuming that the current boom will last indefinitely is risky. Mistaking surplus tax revenue for a structural resource and increasing fixed expenditures could heighten fiscal risks. A balance is needed, where some funds are allocated for future investment while others remain as a buffer for fiscal stability. Kim Yong-beom's emphasis on 'flexible fiscal policy' should be understood in this context. Flexibility means not just increasing expenditures but redesigning the direction and structure of fiscal policy to align with changes in industrial structure. It requires a shift away from mechanically budgeting based on past averages to a strategic fiscal approach that reflects technological changes and industrial trends. Ultimately, it is a matter of choice. Will the potential increase in financial capacity be used for current consumption, or will it be transformed into future competitiveness? It is a judgment call between short-term satisfaction and long-term growth. The semiconductor boom presents a rare opportunity for the South Korean economy. Squandering this opportunity on temporary consumption could make it difficult to seize again. What is needed now is clear. Investing the financial capacity created by the semiconductor boom into AI and future industries is the most realistic and responsible choice.* This article has been translated by AI. 2026-05-11 10:57:54

Lunit and Vuno Face Critical Year Amid Rapid Growth in Medical AI The medical artificial intelligence (AI) market is experiencing explosive growth, with industry leaders Lunit and Vuno facing a pivotal year to prove their performance. While the number of related approvals in the market has surged, concerns remain about the financial stability and international commercialization success of these frontrunners.According to data from the Ministry of Food and Drug Safety, the number of approvals, certifications, and notifications for AI-based software medical devices increased from 62 in 2023 to 108 in 2024 and 157 in 2025, marking a 2.5-fold rise over three years. This growth is significant compared to just four approvals in 2018, 13 in 2019, and 50 in 2020, indicating a substantial application of these technologies in clinical settings. In the first quarter of this year alone, an additional 55 approvals were recorded, continuing the upward trend.Amid this rapid market expansion, Lunit and Vuno are grappling with financial risks and challenges related to overseas approvals, which have become their primary obstacles this year.Lunit reported record annual sales of 83.1 billion won last year and has set a target of over 80 billion won in sales for this year. The company aims to achieve profitability by 2027 and is working to create a revenue structure through expanding global partnerships and offering high-margin subscription-based (SaaS) products that charge monthly fees based on usage.Despite recent financial risk concerns, Lunit alleviated some anxiety by successfully completing a capital increase. The company achieved a subscription rate of 104.7% from existing shareholders in a capital increase worth 211.5 billion won, effectively securing capital and boosting expectations for financial stability. Lunit believes it has laid the groundwork to reduce the debt burden that increased due to the acquisition of Bolpara. Market attention is now focused on Lunit's potential for profitability this year.In contrast, Vuno reported sales of 34.8 billion won last year, with an operating loss of 4.9 billion won. While its revenue has grown and losses have decreased, the company faced a setback when its key product, VunoMed DeepCARS, received a Not Substantially Equivalent (NSE) determination from the FDA for its 510(k) application, presenting a significant challenge. Vuno plans to reinforce its clinical and performance data for a resubmission, but this has delayed its initial timeline.The recent FDA decision has particularly painful implications, as it effectively means missing the entry point for the 2027 fiscal year NTAP. Given the structure requiring FDA approval and entry into U.S. public insurance, any delays in reimbursement schedules could slow the pace of business expansion, according to market observers. Vuno is preparing for resubmission while diversifying into Europe and the Middle East, but this year's performance of DeepCARS is expected to be a critical turning point for the company's valuation.Vuno CEO Lee Ye-ha stated on the company's website on May 4, "This FDA decision does not negate the core technology or clinical value of DeepCARS." He added, "It should be interpreted as a request for additional evidence of equivalence with existing products," emphasizing that the process has clarified the clinical standards and expectations in the U.S. market, and the company plans to quickly reorganize its clinical data for resubmission.Despite Lee's reassurances, Vuno's stock has plummeted following the FDA's decision, dropping more than 20% immediately after the announcement on May 4. As of 10:15 a.m. on May 11, the stock price had fallen to 12,240 won, a decline of about 30% in just one week.Industry insiders noted, "Lunit must prove its profitability based on capital expansion, while Vuno faces the challenge of reapplying for U.S. approval and redesigning its NTAP strategy to rebuild its growth narrative."* This article has been translated by AI. 2026-05-11 10:52:25

Jeong Cheong-rae: Gangwon Province Will Become a Leader in South Korea's New Era The Democratic Party emphasized on May 11 that "Gangwon Province will no longer be a periphery but will become a leading player in a new era for South Korea." At a field meeting of the Central Election Committee held in Chuncheon, Jeong Cheong-rae, the head of the committee, expressed confidence that voters would respond positively to the efforts of the Democratic Party and the Lee Jae-myung administration. He added, "We must establish local governments that work as effectively as President Lee Jae-myung to pave the way for a national leap forward." Jeong noted that President Lee promised to ensure that living in Gangwon Province would not be a disadvantage, stating that Woo Sang-ho, the Democratic Party candidate, is the right person for the province. Woo remarked, "This election is a historic opportunity for South Korea to transition to a local era," asserting that only if Democratic Party candidates are elected can successful nationwide balanced development be achieved. He also pledged to attract advanced corporations to Gangwon Province and create quality jobs to prevent young people from leaving. Meanwhile, the Democratic Party transitioned to a campaign committee structure after launching the 'National Normalization Election Committee' in the National Assembly the previous day. Jeong leads the committee, which includes Han Byeong-do, the floor leader, former Chungbuk Governor Lee Si-jong, WHO advisor Ahn Seon-ha, Daegu citizen and surgeon Geum Hee-jeong, and naturalized Korean citizen from Myanmar, Yvonne Ahn, who serves as a committee advisor. On this day, Yoo Chung-won was also appointed as a co-chair of the committee. Jeong introduced Yoo as a citizen who stood against armored vehicles during the emergency martial law on December 3.* This article has been translated by AI. 2026-05-11 10:51:10

Small Business Agency Receives Prime Minister's Award for Policy Communication The Small Business Market Promotion Agency was recognized with a Prime Minister's Award for Policy Communication at the 2025 Policy Communication Awards hosted by the Ministry of Culture, Sports and Tourism. According to the agency on May 11, it has completely overhauled its policy communication system to successfully implement key national tasks, including enhancing public communication, promoting inclusive finance, and revitalizing small businesses and local markets. The agency has focused on improving customer understanding through simplified language in its promotions and strengthened on-site communication. It has also established outreach policy briefings and regional cooperation systems to enhance accessibility to its policies. Additionally, it has disseminated major initiatives such as special support for electricity bills, win-win paybacks, and improvements to policy funding through public-private partnerships and multi-channel promotions. Furthermore, the agency has initiated a digital transformation in policy communication by establishing digital platforms like 'Small Business 24' and 'Small Business 365,' which integrate policy information and application procedures while providing data-driven, customized services. The agency is also committed to enhancing transparency and the effectiveness of policy execution. In February, it held a workshop for over 110 regional heads, center directors, and mid-level managers to share execution strategies and current issues related to key projects such as traditional markets, small business support, policy research, and financial stability, thereby strengthening collaborative efforts across the organization. Kim Tae-yeon, the agency's director, stated, "We will continue to strengthen communication at the grassroots level with small businesses and do our utmost to ensure that the public can feel the results of our policies."* This article has been translated by AI. 2026-05-11 10:49:45

K-AI Integrates into Daily Life with Practical Services Domestic artificial intelligence (AI) companies are accelerating the integration of proprietary AI models into practical services across various sectors, including communication, translation, education, and finance. This shift goes beyond mere technological development, contributing to the establishment of a 'K-AI ecosystem' that citizens can experience firsthand. The Ministry of Science and ICT unveiled K-AI case studies centered around companies participating in the Independent AI Foundation (독파모) on May 11. LG AI Research and LG Uplus have applied the AI model 'EXAONE' to the lifestyle-oriented AI agent 'ixi-O.' ixi-O offers features such as context-based call summaries and real-time detection of potential voice phishing risks. Lee Min-hyung, a senior official at LG Uplus, stated, "ixi-O has evolved beyond simple transcription to understand conversation context and suggest subsequent actions. We aim to contribute to social safety by addressing the increasingly sophisticated methods of voice phishing." Kim Yoo-cheol, head of strategy at LG AI Research, emphasized the significance of EXAONE becoming closer to the daily lives of citizens through ixi-O, stating, "The moment technology seamlessly integrates into people's lives is when the most refined AI emerges." Upstage and Flitto have implemented their proprietary AI model 'Solar Open' in real-time AI translation services. The two companies plan to enhance translation quality and processing speed while expanding real-world applications of domestic AI technology. SK Telecom (SKT) is targeting the future mobility market with its vehicle AI agent 'A.X Auto,' based on its proprietary AI model 'A.X.' A.X Auto supports voice-only navigation, music playback, vehicle control, and information searches. SKT intends to broaden the application of AI agents across various industries in the future. Motif Technologies and Mathpresso are working to apply their proprietary AI model to the math learning service 'QANDA.' The focus is on supporting self-directed learning by analyzing and explaining students' problem-solving processes step by step. Lee Sung-min, head of the AI group at Motif Technologies, explained, "We are focused on implementing human thought processes rather than just simple calculations, and we expect it to serve as an AI learning mentor that fosters students' critical thinking skills." Naver Cloud has supplied the Bank of Korea with a finance and economics-specialized generative AI platform called 'BOKI (Bank of Korea Intelligence).' This platform supports data retrieval, summarization, Q&A, and economic issue analysis, marking it as the first instance of a generative AI platform being implemented among central banks worldwide. The Ministry of Science and ICT plans to conduct a second-stage evaluation of the Independent AI Foundation in August, focusing on global benchmark performance and enhancing the scoring for technological independence. 2026-05-11 10:48:20

Democratic Party Launches Election Committee Ahead of Local Elections The Democratic Party of Korea has officially launched its election campaign committee in preparation for the June 3 local elections. Jeong Cheong-rae, the chair of the committee, emphasized the message of "high goals, low posture." While this call for humility is common in political rhetoric before elections, its significance is particularly weighty this time. Voter expectations are higher than ever, with a clear shift towards valuing results over rhetoric. The Democratic Party views this local election as a crucial turning point for the administration of Lee Jae-myung. The party believes that the efficiency of national governance can be maximized when central and local governments are policy-wise interconnected. The '5 Extremes and 3 Specialties' strategy, proposed as part of the national balanced development plan, will also be difficult to realize without cooperation from local authorities. Thus, this local election transcends mere regional power restructuring and plays a pivotal role in driving national policy. The Democratic Party's decision to streamline its central organization while strengthening regional structures reflects this understanding. It signals a commitment to shift the focus of the election from central politics to local realities. In fact, local elections are heavily characterized by competition over how to improve regional economies and living conditions. Voters tend to prioritize tangible changes over grand narratives. The challenge lies not in the strategic direction but in its substance. More important than how the organization is structured is what policies and candidates will be put forward. Local governments are not merely auxiliary bodies of the central government; they are independent administrative entities. Remaining solely in a supportive role for the ruling party will not garner voter support. Tailored policies that consider the diverse economic situations, population structures, and industrial bases of each region must be presented. The framing of the election is another critical factor. The Democratic Party interprets this election as a battle for the defense of democracy and political accountability. While this perspective holds some significance, it diverges from the essence of local elections. The issues that local voters face are related to jobs, housing, transportation, and education—practical matters of daily life. Political slogans alone cannot substitute for these demands. The message should be simple, but the content must be specific. Ultimately, the core of the election is about practical politics. Key issues include how to revitalize the local economy, improve the lives of young people and small business owners, and address structural challenges such as population decline and industrial transition. While cooperation with the central government is necessary, failing to explain how it will bring about changes in the lives of local residents will diminish its persuasiveness. Candidate competitiveness is also a significant variable. The Democratic Party has included individuals from diverse backgrounds in its committee, emphasizing "diversity and innovation." However, what is evaluated in elections is not symbolism but the ability to execute. Without verification of administrative experience, policy understanding, and moral integrity, the message will lose its impact. Voters no longer choose based solely on party affiliation. The political environment also plays a role. In a context of heightened confrontation between the ruling and opposition parties, elections can easily devolve into partisan battles. However, approaching local elections in the same manner is not advisable. Local administration requires cooperation and coordination. If excessive confrontation is established during the election process, it may lead to burdens in administrative operations afterward. What is required in this election is balance. There must be equilibrium between central and local, politics and administration, message and policy. Leaning too far in one direction can obscure the essence of the election. Particularly for the ruling party, it is essential to recognize that the weight of responsibility increases with the size of authority. Jeong Cheong-rae's emphasis on "humility" ultimately connects to the attitude toward power. Humility must be proven through actions, not just words. A structure that accommodates diverse opinions in the policy-making process and genuinely reflects local voices must be created. Only then can trust in politics be enhanced. While time is short, there is still enough to set a direction. What matters is not speed but substance. Elections are not just temporary events; they are processes that determine the future of regions. When the messages put forth by the Democratic Party translate into actual policies and actions, voter evaluations may change. Ultimately, this local election will be judged not by slogans but by capabilities.* This article has been translated by AI. 2026-05-11 10:42:55

Lotte Shopping Reports 70% Surge in Q1 Operating Profit Driven by Foreign Tourists Lotte Shopping reported a significant increase in its first-quarter performance, driven by growth in its department store segment. The surge in spending by foreign tourists, particularly in Myeongdong, along with high-margin fashion sales, contributed to a more than 70% rise in operating profit. The company also noted improvements in its profitability efforts and strong performance in overseas markets, including Vietnam. On May 11, Lotte Shopping announced that its consolidated operating profit for the first quarter reached 252.9 billion won, marking a 70.6% increase compared to the same period last year. Revenue rose by 3.6% to 3.5816 trillion won, while net profit skyrocketed by 694.1% to 143.9 billion won, exceeding market expectations. The department store division was the standout performer, with first-quarter sales of 872.3 billion won and operating profit of 191.2 billion won, representing growth of 8.2% and 47.1%, respectively, from the previous year. Domestic sales from major stores, including the flagship store, Jamsil, and Busan, increased by 19%, while sales to foreign tourists surged by 92%, contributing to a 13% increase in same-store sales. Notably, sales from the flagship store to foreign customers more than doubled, increasing by 103% year-on-year, and accounted for 23% of total sales, driving overall performance improvements. Additionally, strong sales of high-margin fashion products led to a 43.5% increase in operating profit compared to the same period last year. The overseas department store segment also showed positive trends, with total sales rising across all locations, including a 28% increase in Vietnam and a 7% increase in Indonesia. The Lotte Mall Westlake Hanoi achieved a record operating profit of 4.9 billion won in the first quarter. Consequently, overseas sales reached 35.5 billion won, up 14.7% from the previous year, with operating profit soaring by 268.7% to 7.6 billion won. Looking ahead to the second quarter, the department store division plans to continue attracting foreign customers by specializing in K-content-based product planning and marketing, particularly at the flagship and Jamsil locations. The supermarket division, which operates Lotte Mart, reported first-quarter sales of 1.5256 trillion won, a 2.6% increase from the previous year, with operating profit rising by 20.2% to 33.8 billion won, reflecting a focus on profitability. Domestic supermarkets benefited from efficient promotions and a reduction in operating expenses, achieving a 30.9% increase in operating profit to 8.8 billion won compared to the same period last year. The overseas business also performed well, particularly in Vietnam, with total sales reaching 485 billion won and operating profit of 25 billion won, representing increases of 3.4% and 16.8%, respectively, from the previous year. The Vietnamese market showed an impressive growth rate of 18%, driving overall improvements in overseas performance. The supermarket division aims to enhance brand competitiveness and customer attraction through innovations in fresh food quality, strengthening private brand offerings, and regular promotions like 'Big Day.' In the online sector, the launch of the 'Zeta Smart Center Busan' utilizing Ocado's Smart Platform (OSP) aims to bolster competitiveness in the grocery market. The company also plans to continue expanding in the Vietnamese market with new store openings and renovations of existing locations. Among its subsidiaries, Lotte Home Shopping reported a 2.1% increase in sales to 232.4 billion won, with operating profit rising by 118.6% to 26.4 billion won, driven by a portfolio focused on high-margin products like health and beauty items, and an expansion of content commerce through social media. Culture Works, responsible for the film business, saw a 49.2% increase in cinema attendance due to the success of the film 'The King and the Clown,' which became the second-highest-grossing film in South Korea's history. This resulted in an operating profit of 7.9 billion won and a 44.4% increase in revenue to 124.6 billion won. In contrast, the electronics retail division, Lotte Hi-Mart, faced challenges due to a downturn in the electronics market and a sluggish real estate sector, reporting an operating loss of 14.7 billion won in the first quarter, widening its losses compared to the previous year. The e-commerce division also reduced its losses by 2.7 billion won compared to the previous year, but still recorded an operating loss of 5.8 billion won in the first quarter. Im Jae-cheol, head of Lotte Shopping's finance division, stated, "In the first quarter of this year, we achieved remarkable results based on the solid performance of our department stores and the profitability improvements of our subsidiaries. We will continue to strengthen the fundamental competitiveness of our domestic business and solidify sustainable growth through overseas expansion."* This article has been translated by AI. 2026-05-11 10:39:40

US treasury secretary to visit Seoul ahead of Trump's Beijing summit with Xi SEOUL, May 11 (AJP) - U.S. Treasury Secretary Scott Bessent will visit Seoul later this week, just ahead of U.S. President Donald Trump's visit to Beijing for a summit with Chinese President Xi Jinping. "I will depart on Monday for a quick series of meetings in both Japan and South Korea," Bessent said in a post on X, formerly Twitter. He added, "I will stop in Seoul" on Wednesday before heading to Beijing for Trump's summit with Xi Jinping scheduled for Thursday and Friday. During his three-nation trip, Bessent is expected to discuss a wide range of economic issues in meetings with financial officials including his South Korean counterpart Koo Yun-cheol and others. He said, "Economic security is national security, and I look forward to a productive series of engagements as we work to advance America First Economic Agenda." Before arriving in Seoul, he will meet Japanese Prime Minister Sanae Takaichi in Tokyo on Tuesday, along with other government officials as well as "private sector representatives for discussions on the U.S.-Japan economic relationship." 2026-05-11 10:35:00

Trump Rejects Iran's Response to US Peace Proposal President Donald Trump has stated that he cannot accept Iran's response to the U.S. proposal for ending hostilities, while Iran has pushed back, asserting that its proposal was not intended to please the U.S. leader. On May 10, Trump expressed his dissatisfaction via social media platform Truth Social, saying, "I just read the response from Iran's so-called 'representatives.' I do not like it. It is completely unacceptable." However, he did not specify which aspects of the Iranian response he found unacceptable. Last week, the U.S. sent a proposal to Iran aimed at ending the conflict. Trump mentioned on May 8 that he expected to receive a letter that night, but Iranian state news agency IRNA reported on May 10 that Iran had communicated its response to the U.S. through the mediator, Pakistan. Details of the Iranian response have been reported differently by various sources. The Wall Street Journal (WSJ), citing informed sources, reported that Iran proposed a ceasefire and a gradual resumption of commercial navigation in the Strait of Hormuz, while demanding the lifting of U.S. sanctions on Iranian vessels and ports. In contrast, the Iranian semi-official Tasnim news agency disputed the WSJ's account, claiming that Iran's response emphasized an immediate end to the war, a guarantee against further U.S. attacks, the lifting of sanctions, and a cessation of hostilities across all fronts. The source also stated that the U.S. maritime blockade against Iran should end immediately following the initial agreement, and sanctions related to the sale of Iranian oil should be lifted within 30 days. Additionally, Tasnim reported that Iran's response included demands for the release of frozen Iranian assets abroad and the implementation of certain U.S. measures within 30 days. Iran: Proposal Not Written to Please Trump Iran has reacted to Trump's rejection of its proposal. According to Tasnim, another informed source stated, "No one in Iran writes proposals to please Trump," asserting that the Iranian negotiating team bases its plans solely on the rights of the Iranian people. The source added that if Trump is not satisfied with Iran's proposal, "then that is certainly a good thing." The source also claimed that Trump is refusing to accept reality, which is why he continues to face defeats in Iran. Meanwhile, media outlets linked to the Islamic Revolutionary Guard Corps (IRGC) have suggested that the Strait of Hormuz should be utilized not only as an energy and shipping chokepoint but also as a digital leverage tool. Tasnim reported that over $10 trillion in financial transactions occur daily through undersea fiber optic cables in the Strait, asserting that Iran must secure economic and sovereign benefits from this infrastructure. They proposed imposing licensing fees and annual renewal fees on foreign companies and insisted that major tech firms operate in accordance with Iranian law. Another IRGC-affiliated outlet, Fars News, echoed similar sentiments, stating that over 99% of international internet communications occur via undersea cables and that Iranian companies should manage the maintenance and repair of cables passing through the Strait. Fars noted that Iran could require permits and tolls for vessels passing through the Strait, thereby transforming it into a tool of digital power for Iran. This indicates Iran's intention to impose tolls on vessels traversing the Strait of Hormuz while seeking additional revenue generation from this strategic waterway. 2026-05-11 10:34:46