Labor Minister Facilitates Dialogue, Mediator Helps Resolve Samsung Wage Negotiations Samsung Electronics and its labor union reached a dramatic agreement just a day before a planned strike, with the involvement of labor authorities playing a significant role. Minister of Employment and Labor Kim Young-hwan facilitated dialogue between the two sides, while Park Soo-geun, chair of the Central Labor Relations Commission, focused on bridging their differences. Observers noted that the situation could have escalated into a crisis if emergency mediation powers had been activated, but the worst was averted. On May 21, relevant departments reported that Minister Kim began mediating the negotiations between Samsung Electronics and its labor union at 4 p.m. the previous day. Following the failure of the second post-adjustment meeting earlier that morning, the likelihood of an unprecedented strike at Samsung Electronics increased, prompting Kim to lead both parties back to the negotiation table, ultimately resulting in a tentative agreement. During the first post-adjustment meeting, which took place from May 11 to 13, the union declared a breakdown in negotiations. However, Kim persuaded both sides to resume talks during meetings on May 15 and 16, where he reportedly shared his past experiences in labor movements to build rapport with the union. Throughout the two rounds of post-adjustment meetings, Kim remained at the government complex in Sejong, engaging in behind-the-scenes discussions with both parties. After the second post-adjustment meeting failed, Park Soo-geun remarked, "There were many opposing views, but Minister Kim helped us, and many people contributed to making progress." After the breakdown of the post-adjustment talks, Kim facilitated further negotiations. While en route to the Gyeonggi Employment and Labor Office, he posted on social media, "Hope blooms in despair. It’s not over until it’s over." Following six hours of negotiations, he successfully mediated a tentative agreement, preventing a potential 0.5 percentage point drop in the country's GDP due to a strike. While Kim supported the negotiations behind the scenes, Park took an active role as a mediator, working to narrow the gap between the two sides during marathon meetings that lasted three days and included various proposals. This collaborative effort allowed both parties to find common ground, leading to the creation of a tentative agreement. After the agreement was reached, Minister Kim stated, "Chairman Park played a significant role in narrowing the gaps, and I believe he contributed greatly to resolving the remaining issues." The mediation by labor authorities is seen as having prevented a deterioration in labor-management relations. The business community expressed concerns that, given Samsung Electronics' significant role in the economy, a strike could have necessitated the activation of emergency mediation powers. Conversely, labor representatives maintained that discussions about activating emergency mediation powers, which limit fundamental rights, were inappropriate. As the government hinted at the possibility of invoking these powers, the labor-management relationship was on the brink of crisis, but mediation successfully averted this outcome.* This article has been translated by AI. 2026-05-21 17:21:00

Jang Dong-hyuk Meets Jeong Cheong-rae in Gongju, Urges Clean Candidates Jang Dong-hyuk, the leader of the People Power Party, visited Gongju in South Chungcheong Province on May 21, following a stop in Daejeon, where he criticized President Lee Jae-myung and called for accountability from the Democratic Party. At the same time, Jeong Cheong-rae, the leader of the Democratic Party, was also campaigning in Gongju, heightening the political atmosphere. As the head of the party's election campaign committee, Jang urged support for Yoon Yong-geun, the candidate for the National Assembly by-election in Gongju, Buyeo, and Cheongyang, and for Choi Won-cheol, the candidate for Gongju mayor, during his visit to Gongju Sanseong Market. "Lee Jae-myung has become president but is trying to dismiss his own trial while ignoring the public," Jang said. He emphasized the need for Yoon, who could help bring Lee back to trial, to be elected to the National Assembly. At the same time, Jeong passed by Jang's rally at the market, further intensifying the atmosphere. Jang, seemingly aware of Jeong's presence, called out the names of gubernatorial candidate Kim Tae-heum, Choi, and Yoon with increasing fervor. He appealed to voters, saying, "Please choose clean and competent candidates to create a better Gongju." Some supporters of the People Power Party shouted, "Oppose the dismissal of the indictment" at Jeong, who maintained a smile as he walked by. After his speech, Jang urged the crowd to unite for an overwhelming victory for the People Power Party in South Chungcheong Province, which he believes will lead to national success. Yoon also called for support, stating, "Please create a crucial seat in the National Assembly to revive the People Power Party and conservatism in Gongju," while Choi asked for the opportunity to correct the imbalanced political landscape. Following the rally, Jang, along with the two candidates, bowed deeply to their supporters and then engaged with local merchants to connect with the community.* This article has been translated by AI. 2026-05-21 17:13:34

HD Korea Shipbuilding wins $1.2 bln order for 6 ammonia carriers SEOUL, May 21 (AJP) - HD Korea Shipbuilding & Offshore Engineering said Thursday it has signed a contract with a European shipowner to build six very large ammonia carriers. The deal is worth 1.08 trillion won ($1.2 billion), the intermediate shipbuilding holding company of HD Hyundai said in a regulatory filing. The vessels will be built by HD Hyundai Samho and delivered by the second half of 2029. With the latest order, HD Korea Shipbuilding has secured orders for 104 vessels worth $12.54 billion so far this year, achieving 53.8 percent of its annual target of $23.31 billion. By vessel type, the company has won orders for 16 liquefied natural gas carriers, 26 container ships, 26 liquefied petroleum gas and ammonia carriers, seven crude oil carriers, 26 product carriers, two pure car and truck carriers and one other vessel. The order comes as HD Hyundai is also expanding its presence in next-generation energy sectors beyond shipbuilding. The company and Hyundai Engineering & Construction said Thursday they were selected as preferred bidders to manufacture and supply key equipment for TerraPower’s fourth-generation Natrium reactor, a sodium-cooled fast reactor being developed by the U.S. SMR company founded by Bill Gates. HD Hyundai Heavy Industries signed a basic agreement with TerraPower on the reactor supply, while Hyundai E&C plans to discuss participation in engineering, procurement and construction work for follow-up commercial units. 2026-05-21 17:12:13

President Lee Advocates for Open Criticism and Advice in Government Advisory Meetings President Lee Jae-myung emphasized the importance of open criticism and advice during a meeting with the presidential advisory council on May 21. He stated, "I believe that while you should feel free to criticize and advise, it is essential to understand that the principles of an organized government must also function."The meeting, held at the Blue House, focused on the slogan "Envisioning the Future of Korea Together" and included reports on the status, achievements, and future plans of three advisory councils and 16 presidential committees tasked with national priorities.President Lee noted, "In two weeks, it will be the one-year anniversary of our government. While the past year was primarily focused on normalizing a disordered domestic system, it is now time to achieve tangible improvements in the lives of our citizens with a new vision."He urged the committees to actively gather opinions, create policy alternatives, and provide advice to the president, stating, "Each committee has its essential functions. Please ensure that your activities are smooth and vigorous."Lee also encouraged direct communication, saying, "If you have something to say to me directly, please feel free to share your thoughts through the chat room."He remarked on the changing landscape of understanding public sentiment, saying, "In the past, those in power would visit neighborhoods to gauge the situation, but nowadays, simply engaging with various communities and social media can provide a clear picture of public opinion."Regarding the treatment of advisory council members, he expressed concern, stating, "I sometimes feel that the treatment of chairs and members is inadequate. These individuals bring valuable expertise and dedicate their time, yet the practical compensation is insufficient."During the subsequent closed-door discussion, committee chairs reported on their work and shared opinions. They requested enhanced feedback from the presidential office and increased administrative support and budget allocations.Kim Seong-sik, vice chair of the National Economic Advisory Council, noted that the budget execution rate during the previous administration was low, leading to automatic reductions, and requested that the budget allocation criteria be updated to reflect 2022 standards.Kim Won-jung, chair of the Asian Cultural Center Establishment Committee, stated, "Due to regional limitations in Gwangju, we have not yet achieved the status of a competitive Asian cultural center. We aim to build a new city that embodies the spirit of Gwangju, committing to this mission with the resolve of independence fighters."President Lee addressed the Future Defense Strategy Committee, highlighting the differing military responses during the Gwangju Uprising and the December 2021 insurrection, attributing these differences to the democratic awareness of soldiers and citizens. He stressed the importance of democratization and culture within the military.To Baek Jong-woo, chair of the National Life Safety Committee, he stated, "One of our government's key tasks is to reduce our alarmingly high suicide rate. Please conduct thorough research on this issue and prepare effective measures, particularly regarding depression."He also expressed disappointment over the lack of traditional architectural designs in the recent presidential office design competition, urging the National Architecture Policy Committee, led by Kim Jin-ae, to propose freely without being constrained by regulations and procedures.Additionally, Lee Seok-yeon, chair of the National Integration Committee, who raised concerns about misconduct within the Blue House the previous day, attended the meeting. The Blue House responded to his allegations by stating that an internal review and investigation would take place.In his remarks, Lee emphasized that true national unity begins with those in power reaching out and creating pathways for collaboration, pledging to play a role in fostering unity and making it a celebration for all citizens. 2026-05-21 17:07:37

Trump and Netanyahu Clash Over Iran Peace Proposal President Donald Trump and Israeli Prime Minister Benjamin Netanyahu have expressed differing views on a proposed peace plan regarding Iran. As the U.S. and Middle Eastern mediators seek a diplomatic resolution, Netanyahu is reportedly advocating for the resumption of military operations against Iran. On May 20, Axios reported that Trump and Netanyahu engaged in a lengthy phone call the previous day regarding the Iran peace agreement. Sources indicated that the conversation was tense, with one U.S. source stating, "Netanyahu was visibly agitated after the call." The disagreement stems from a new proposal aimed at ending the war with Iran. Trump appears open to the possibility of a diplomatic resolution, while Netanyahu insists on the necessity of further weakening Iran's military capabilities and key facilities through military action. The peace proposal was developed under the leadership of Qatar and Pakistan. Axios noted that these countries sought to bridge the gap between the U.S. and Iran by incorporating the views of other mediators, including Saudi Arabia, Turkey, and Egypt. Mediators are reportedly preparing a document outlining principles for negotiations that both the U.S. and Iran could sign. This document is said to include a declaration to end the war and a 30-day negotiation period addressing Iran's nuclear program and the opening of the Strait of Hormuz. Trump has publicly indicated a dual approach of negotiation and pressure. During an event at the U.S. Coast Guard Academy, he suggested that if Iran does not sign the document, the U.S. could take direct action to resolve the issue, implying potential military action if Iran does not comply. Iran has stated it is reviewing the new proposal, although there has been no clear indication of a change in its position. Iran demands the cessation of U.S. seizures of Iranian vessels and the release of frozen funds as conditions for a negotiated settlement. Additionally, it has called for an end to the conflict in Lebanon concerning Israel. The possibility of Netanyahu visiting Washington is also a factor. Israeli sources reported that Netanyahu wishes to meet directly with Trump in Washington within the next few weeks.* This article has been translated by AI. 2026-05-21 17:04:40

Two South Koreans released after Israeli seizure of Gaza-bound vessels SEOUL, May 21 (AJP) - Two South Koreans detained after Israeli forces seized vessels bound for the Gaza Strip have been released, Cheong Wa Dae said on Thursday. Their release comes after the Gaza-bound ship Kyriakos X, carrying humanitarian aid, was seized by the Israeli navy in international waters in the Mediterranean Sea near Cyprus last Thursday, and another vessel, Rina al Nabulsi, was seized by Israeli forces in waters near the Gaza Strip two days later, both carrying South Korean nationals. Welcoming their release, presidential spokesperson Kang Yu-jung said in a press briefing that the government "strongly regretted" Israel's seizure of the vessels and the detention of South Korean nationals, but "highly valued" Israel's decision to release them promptly. She added that their release followed President Lee Jae Myung raising serious concerns at a Cabinet meeting the previous day over the safety and rights of the detained citizens, prompting Israel to deport them soon afterward. At the meeting, Lee accused Israel of violating international law, citing an arrest warrant issued by the International Criminal Court for Israeli Prime Minister Benjamin Netanyahu, in a rare public criticism of a foreign head of state. Revealing that Israel had expressed hope that bilateral relations would not be affected, Kang said the government would act "with principle and responsibility" to ensure the safety of South Korean nationals and maintain close diplomatic communication with relevant countries. 2026-05-21 17:03:53

IBK Industrial Bank Donates 1 Billion Won to Support Multicultural Families IBK Industrial Bank announced on May 21 that it has donated 1 billion won to the Green Umbrella Child Fund for the 'Dida Project.'The Dida Project is a program aimed at supporting children from multicultural families of employees in small and medium-sized enterprises. Since 2024, the bank has contributed a total of 3.2 billion won to provide educational expenses and career development programs for these children, helping them continue their education and prepare for their futures.An IBK official stated, "Sustainable growth for small and medium-sized enterprises cannot be achieved solely through financial support. We are committed to ensuring that workers and their families can work, learn, and grow in a stable environment, fulfilling our social responsibility through warm finance."Additionally, IBK Industrial Bank supported social contribution activities with a total of 267.2 billion won in 2025 and plans to continue providing meaningful assistance to those in need.* This article has been translated by AI. 2026-05-21 17:03:00

Nvidia Confirms Strong Demand for AI Semiconductors Amid Market Concerns Nvidia has demonstrated robust demand for artificial intelligence (AI) semiconductors, reporting results that exceeded market expectations. However, regulatory challenges in China and the development of in-house chips by major tech companies pose potential risks for the future. According to reports from Reuters and the Associated Press on May 20, Nvidia's revenue for the first quarter of fiscal year 2027 (February to April 2026) reached $81.62 billion (approximately 122.2 trillion won), marking an 85% increase compared to the same period last year and surpassing market expectations of around $78.9 billion. The data center segment was the primary driver of this growth, with revenue soaring 92% to $75.2 billion year-over-year. The demand for graphics processing units (GPUs), networking equipment, and server systems necessary for AI development and service operations significantly boosted sales. Nvidia's outlook for the next quarter also exceeded market expectations. The company projected second-quarter revenue (May to July) at $91 billion, surpassing Wall Street's forecast of $86.84 billion, as reported by Reuters. Nvidia also announced a plan to buy back $80 billion of its shares. Jensen Huang, Nvidia's CEO, emphasized the expanding demand for AI semiconductors, stating, "Building AI factories is the largest infrastructure expansion in human history, and it is progressing at an incredible pace." AI factories refer to large data centers that support AI services. He noted that the demand for GPUs and servers continues to rise as AI services evolve beyond chatbots to include more complex business applications. Media outlets echoed this sentiment. The Associated Press noted that "demand for AI semiconductors drove Nvidia's performance improvement," while Reuters viewed Nvidia's results and outlook as key indicators of global investment trends in AI data centers. The Guardian highlighted the surge in data center revenue, pointing out that the expansion of AI infrastructure is ongoing. However, the stock market reaction was muted. Nvidia's shares rose 1.3% during regular trading but fell 1.26% in after-hours trading following the earnings announcement. Analysts suggest that the already high growth expectations may have been priced into the stock. Reuters reported that "investor interest is shifting from short-term results to the sustainability of AI investments." The key variables will be whether AI investments continue over the next one to two years and how much competition will grow in the inference semiconductor market necessary for AI service operations. China also remains a significant variable. With U.S. export restrictions and China's import bans intersecting, the timeline for revenue recovery remains uncertain. Nvidia did not factor in a recovery of data center sales in China for its next quarter outlook. Huang stated regarding the Chinese market, "I believe the market will open over time," but the H200 chips intended for sale in China have yet to receive approval from Chinese authorities. In a CNBC interview, he expressed, "I have no expectations regarding H200 sales," adding, "We have effectively ceded that market to them (Huawei)." From a long-term perspective, the development of in-house chips by major tech companies poses another variable. Companies like Alphabet, Amazon, and Microsoft are developing their own AI chips while still relying on Nvidia's semiconductors. AMD and Intel are also targeting the inference semiconductor market, indicating ongoing challenges to Nvidia's long-term dominance.* This article has been translated by AI. 2026-05-21 17:00:20

Hanwha Qcells to supply modules for South Korea's largest solar project SEOUL, May 21 (AJP) - Hanwha Solutions' Qcells division announced it will supply high-efficiency solar cells and modules for a 400-megawatt solar power project being developed by Korea South-East Power (KOSEP), the largest solar installation ever built on a single site in South Korea. The plant, set to rise across about 4.63 square kilometers of land in Haenam County, South Jeolla Province, is scheduled for completion in June 2028. KOSEP selected a preferred EPC (engineering, procurement and construction) contractor for the project on Tuesday, one day before the announcement. The chosen EPC firm will install about 640,000 solar modules incorporating cells manufactured exclusively at Hanwha Qcells' production facility in Jincheon, North Chungcheong Province — the company's largest domestic manufacturing base. "This project offered an opportunity to demonstrate the competitiveness of Korean-made solar technology on a large scale," said Yu Jae-yeol, head of Hanwha Qcells' Korea business division, adding that sustained policy support for domestic renewable energy and locally produced components could help restore the country's solar supply chain and drive further investment. The project arrives as South Korea pushes to expand its renewable energy capacity, with domestic manufacturers seeking to reclaim ground in a market long pressured by low-cost overseas competition. 2026-05-21 16:58:15

Funding Controversy Surrounds '21st Century Great Lady' Amid Historical Accuracy Concerns "Sending emails to the members of the Culture, Sports and Tourism Committee will speed things up. They will raise a fuss during the National Assembly audit. The Minister of Culture, Sports and Tourism will have to face their wrath. Let's send emails regardless of party affiliation." (From a community post) Amid controversy over historical inaccuracies in the drama "21st Century Great Lady," it has come to light that the show received production support from the Korea Creative Content Agency (KOCCA), a government agency, prompting calls for the repayment of funds. On May 21, various online communities in South Korea are mobilizing to share the email addresses of committee members to protest the issue. "21st Century Great Lady" was selected as a final project for KOCCA's 2025 'OTT-Specialized Content Production Support (IP Acquisition Type)' program. While the exact amount of funding allocated to the project has not been disclosed, long-form dramas can receive up to 2 billion won. The show has received the full amount of its funding in two installments. A KOCCA official stated, "After being selected for the project, 70% of the advance payment was disbursed, and the remaining 30% was released following a mid-term evaluation. We have received all the funding." However, there is a possibility that the funds could be reclaimed. KOCCA is set to conduct a performance evaluation this month to determine the success of the project. According to Article 55 of KOCCA's Content Support Project Management Regulations, if the evaluation is deemed unsatisfactory, the full amount of the funding and any accrued interest must be returned within 30 days. In this regard, a KOCCA official mentioned, "The evaluation schedule is still undecided," but added, "We are comprehensively reviewing overall measures, including potential fund recovery." Some critics argue that it is problematic for government funds to be allocated to a drama that has already sparked controversy over historical distortion. Some community users are filing requests for information disclosure with KOCCA. One user stated, "KOCCA should disclose the evaluation criteria and the evaluation details for 'Great Lady.' They need to explain why historical accuracy was not addressed in the evaluation of historical content and whether there are regulations regarding compensation or fund recovery if issues arise in future productions." In response, a KOCCA official noted, "Currently, historical accuracy is not mandatory at the project selection stage," but added that they are considering strengthening compliance checks, such as requiring plans for consultation or historical verification from the production support application or selection stages. They also stated, "We will work to prevent similar cases in the future." Meanwhile, in the drama's coronation scene in episode 11, subjects shouted 'cheonsae' instead of 'manse,' and the king wore a nine-crown instead of the twelve-crown typically used for emperors. Viewers have criticized this portrayal as inappropriate, even considering the fictional context, as it depicts Joseon royal ceremonies in a manner befitting a vassal state.* This article has been translated by AI. 2026-05-21 16:55:41