World No. 1 Scottie Scheffler: Focus on Your Own Path, Not Comparisons "What has always been important to me is working hard to become the 'best player' I believe I can be," Scottie Scheffler said during a press conference on May 21 at the TPC Craig Ranch in McKinney, Texas, ahead of the PGA Tour's CJ Cup Byron Nelson, which has a total prize purse of $10.3 million. As the top-ranked player in men's golf, Scheffler is widely recognized as the best player in the game today. He has achieved 20 wins on the PGA Tour and four major championships, and he won a gold medal at the 2024 Paris Olympics. He has also made history with 100 consecutive weeks at No. 1 in the world rankings and 10 consecutive wins when leading after 54 holes. On this occasion, Scheffler emphasized the importance of focusing on the journey toward his dreams rather than being tied down by specific goals. "I wasn't the type to write down my goals or set specific tournaments to win when I was younger. My dream was simply to play golf on the PGA Tour," he reflected. He added, "That doesn't mean I viewed the PGA Tour as an absolute goal I had to achieve. I was more interested in seeing where that journey would take me." Scheffler particularly cautioned against comparing oneself to others, urging a focus on personal growth. "I believe there is so much to learn from those around you. However, comparing yourself to others can sometimes be dangerous," he said. "Ultimately, what matters is progressing in your own way." He also offered warm encouragement to Kim Joo-hyung, who has been experiencing a slump. "Golf is a really tough sport. I think it's one of the hardest games out there. Everyone goes through ups and downs," he reassured. "Tom (Kim Joo-hyung) is still a young player. People often forget that he is only 23 years old," Scheffler noted. "Every time I see him, he has great energy and a bright expression. That’s one of Tom's biggest strengths. He always has a positive attitude and approach to everything. I’m confident we will see him competing for wins again soon." Scheffler showcased his exceptional skills at last year's CJ Cup, winning in a wire-to-wire fashion and tying the PGA Tour record for the lowest score over 72 holes at 31 under par (253). This year, all eyes will be on whether he can defend his title. If he succeeds, he will achieve back-to-back victories at the event, a feat not accomplished since Lee Kyung-hoon in 2022. Aiming for a second consecutive win in his hometown, Scheffler said, "I think a trophy with my name engraved in Hangul is really cool. I will do my best to win again. Competing on tour is always enjoyable, especially being able to play in my hometown. The fact that this tournament is named after Byron Nelson makes it even more meaningful to me." Scheffler's love for Korean cuisine has also drawn attention. He previously remarked, "It was a tough day with rain, but Korean food helped me power through," creating a buzz. This year, he expressed excitement about the Korean food provided during the tournament. "I’m looking forward to having Korean food in the players' dining area for lunch. The food has always been excellent. In terms of player dining, this is one of my favorite tournaments," he said with a smile. "If there’s spicy chicken, I might eat several servings. I really love spicy chicken dishes."* This article has been translated by AI. 2026-05-21 16:53:14

The Fall of Kumyang: A Cautionary Tale of Delisting in the Battery Sector Kumyang, once a leading player in the battery sector with a market capitalization nearing 10 trillion won, has faced a delisting decision. Analysts attribute this downfall to aggressive business expansion, a surge in speculative trading, and repeated controversies over disclosures that eroded market trust, culminating in a rejection of audit opinions. On May 21, the Korea Exchange reported that Kumyang filed for a suspension of the delisting decision at the Seoul Southern District Court. The exchange had announced the delisting decision the previous day during a meeting of the Securities Listing Committee. The court's ruling will determine the next steps in the delisting process. From Fine Chemicals to Battery Leader Founded in 1978, Kumyang initially produced fine chemical products, including foaming agents. In the 2020s, the company ventured into the battery business, gaining significant attention. At that time, Park Soon-hyuk, then the company's PR director, actively promoted the growth potential of the battery industry, earning the nickname "Battery Uncle" among individual investors. As the electric vehicle market expanded and optimism grew around the battery sector, Kumyang's stock price surged. On July 26, 2023, it reached an all-time high of 194,000 won, bringing its market capitalization close to 10 trillion won. At that point, some market observers referred to Kumyang as the "second EcoPro." However, the company's actual performance and profitability failed to meet market expectations, leading to a subsequent sharp decline in stock price. Trust Eroded Amid Controversies and Investments The issues began to surface during Kumyang's aggressive expansion efforts. The company undertook large-scale investments in mining operations in Mongolia and the Congo, as well as the construction of a battery plant in Busan. However, concerns grew over funding burdens and the reliability of disclosures. Particularly troubling was the drastic downward revision of projected revenues and operating profits from the Mongolian mine, initially estimated at 40 billion and 160 billion won, respectively, to just 6.6 billion and 1.3 billion won within a year. This sparked allegations of inflated performance projections, leading to criticism of what investors termed "exaggerated disclosures." In September 2024, amid a slowdown in the battery sector due to a temporary demand stagnation in electric vehicles, Kumyang announced a plan for a 450 billion won capital increase. However, the market reacted coldly to the large-scale fundraising effort, prompting the company to withdraw the plan in February of the following year. Audit Firm's Rejection Signals Delisting Risk Kumyang was designated as a non-compliant company by the exchange in October 2024 and again in March of the following year due to issues related to disclosures about the Mongolian mine and the capital increase. As penalties accumulated, the company was classified as a management issue. The final blow came when an external audit firm rejected its audit opinion, raising doubts about the company's ability to continue as a going concern. A rejection of an audit opinion is considered a significant warning sign of potential delisting for publicly traded companies. Following this, Kumyang entered a trading suspension. Just before the suspension on March 21 of last year, the stock closed at 9,900 won, marking a nearly 94.9% drop from its peak in July 2023. The market capitalization also plummeted to around 600 billion won. In March of this year, Kumyang received a second consecutive rejection of its audit opinion from an external auditor. Concerns Raised Over Regulatory Oversight While Kumyang has filed for a suspension of the exchange's delisting decision, industry insiders are skeptical about the likelihood of a favorable ruling. One industry source noted, "Given that much of the process has already progressed according to exchange regulations, it will be difficult to reverse the outcome." However, some are questioning the responsibility of financial authorities. Another industry source pointed out, "The delisting of a KOSPI-listed company is a significant event that can have considerable market impact." With nearly 240,000 small investors affected, there are concerns about potential oversights in the financial authorities' monitoring of exaggerated disclosures. In response to recent cases like that of Samchundang Pharm, financial authorities have proposed improvements to disclosure practices for pharmaceutical and biotech companies. However, there are ongoing evaluations that similar disclosure controversies continue to arise, with some proposed reforms remaining at a mere recommendation level, limiting their effectiveness.* This article has been translated by AI. 2026-05-21 16:51:00

Mick Mulvaney Discusses Protectionism as Key U.S. Policy at AMCHAM Event SEOUL, May 21 (AJP) - Mick Mulvaney, the former acting White House Chief of Staff, stated that many of the changes occurring in Washington today are not limited to President Trump but represent structural trends that will shape the U.S. political and economic order in the long term. He also noted that protectionism and a domestic-focused economic policy are likely to remain central to U.S. policy regardless of which party is in power. The American Chamber of Commerce in Korea (AMCHAM) hosted a special luncheon on May 21 at the Grand Hyatt Hotel in Yongsan, Seoul, featuring Mulvaney as a guest speaker. The event, titled 'The Return of America First: Global Business and Geopolitics in the Trump 2.0 Era,' included a one-on-one discussion between AMCHAM Chairman and CEO James Kim and Mulvaney, attended by over 120 members and representatives from major domestic and international companies. Participants discussed the policy direction of a potential second Trump administration, changes in U.S. trade and industrial policy, tariff policies, reshoring strategies, geopolitical risks concerning the Middle East and North Korea, and the restructuring of global supply chains focused on economic security. They also explored ways to enhance U.S.-Korea cooperation in strategic industries such as semiconductors, shipbuilding, energy, artificial intelligence (AI), and advanced manufacturing. Mulvaney served in various roles during the Trump administration, including acting White House Chief of Staff, Director of the Office of Management and Budget (OMB), and acting Director of the Consumer Financial Protection Bureau (CFPB). He elaborated on the decision-making processes and leadership style of the Trump administration, as well as the impact of the 'America First' policy on U.S. domestic politics, foreign policy, and the global economic order. He remarked that there is a growing fatigue regarding long-term foreign interventions in American society, and inflationary pressures are expected to persist for some time. He added that government intervention in strategic industries and the private market is likely to increase, emphasizing that these trends represent structural changes that will affect U.S. economic, industrial, and trade policies for years to come. Having reported daily to President Trump and met with him nearly 20 times a day, he described Trump as someone who “trusts no one.” He explained that Trump perceives allies as taking advantage of the United States. When asked by James Kim about Trump’s leadership style, Mulvaney referenced the TV show 'The Apprentice,' stating, “That’s President Trump.” Mulvaney also noted that Trump enjoyed watching intelligent people debate and preferred negotiating with those he liked. He identified two key criteria that Trump considers when evaluating foreign countries: defense spending relative to GDP and trade balances with the U.S. He stated, “By this standard, South Korea is not a bad country.” He further mentioned that Trump understands the geopolitics concerning South Korea, Japan, and Australia. James Kim remarked, “Mulvaney is one of the few individuals who has experienced the Trump administration up close in Washington. It is meaningful to have this timely and candid discussion here in Seoul.” Kim added that the conversation provided important insights into the changes in the America First policy, U.S. policy direction, and the implications of these changes for Korea, the U.S.-Korea alliance, and the global business community. * This article has been translated by AI. 2026-05-21 16:43:26

Han Yu-won Launches Second Recruitment for Online Sales Support Program Targeting 300 SMEs The Korea Small and Medium Enterprises and Startups Agency (Han Yu-won) is recruiting small and medium enterprises (SMEs) for the second phase of its "Comprehensive Online Sales Support" program, aimed at helping businesses expand their market reach. According to Han Yu-won, the program aims to support a total of 300 companies this year, aligning with the growing trend of online consumerism. The initiative seeks to enhance online distribution channels for SME products by connecting them with private retail channels and establishing a foundation for comprehensive support in e-commerce marketing and distribution. The second recruitment phase will run for 16 days, from May 21 to June 5, following the closure of the first phase on May 8. Selected SMEs will receive support for expanding online sales, including e-commerce advertising (such as time deals and exclusive promotions), specialized marketing and sales for vertical commerce, and tailored promotional and advertising initiatives for different platforms. Additionally, SMEs with outstanding sales performance will be offered comprehensive support programs, including opportunities to enter TV and data home shopping channels, launch offline pop-up stores, and enhance their marketing capabilities. Earlier, on May 20, Han Yu-won hosted the "2026 SME Purchase Consultation Fair," aiming to support 200 SMEs in their market development efforts. During the event, participating SMEs engaged in one-on-one consultations with product planners from distribution platforms tailored to their product categories. Lee Tae-sik, CEO of Han Yu-won, stated, "We will support SMEs in discovering the most suitable sales channels based on the experiences gained from the 'Comprehensive Online Sales Support' program to foster their growth."* This article has been translated by AI. 2026-05-21 16:40:41

Lotte Hi-Mart's PLUX Brand Achieves Success in First Year, Aiming for 200 Billion Won in Sales Lotte Hi-Mart's private brand (PB) PLUX is experiencing growth, particularly among one- to two-person households and younger consumers. The company reported on May 21 that its overall PB sales increased by 15% year-on-year from April of last year to March of this year. In the first quarter of this year, sales rose by 26% compared to the same period last year. PLUX was designed to cater to the needs of one- to two-person households, which tend to prefer smaller appliances due to limited living space and prioritize price and energy efficiency. The company stated, "PLUX differentiates its key products based on these characteristics." The flagship product, the PLUX 245L refrigerator, sold over 40,000 units in one year, making it the best-selling refrigerator in Lotte Hi-Mart's lineup. The company attributed its success to the refrigerator's 200L capacity, top energy efficiency rating, and a five-year extended warranty, which align with customer demands. Additionally, the proportion of customers in their 20s has increased since the launch of PLUX. Lotte Hi-Mart is also expanding the PLUX product line into subscription services. In March, it introduced the "PLUX Subscription Service" for popular categories such as washing machines, air conditioners, and rice cookers, with plans to include water purifiers in June. In July, Lotte Hi-Mart will launch a dedicated PLUX store where customers can explore all PLUX appliances in one location. The company aims to boost PLUX sales from 130 billion won last year to over 200 billion won this year. Park Byeong-yong, head of Lotte Hi-Mart's PB overseas sourcing division, stated, "PLUX has achieved sales growth and changes in the purchasing demographic within just one year of its launch. We will continue to develop it as a daily appliance brand." Lotte Hi-Mart introduced PLUX after approximately a year of consulting, consumer research, and product planning that began in April of last year. The concept of PLUX is based on the idea of "changing daily life with small differences."* This article has been translated by AI. 2026-05-21 16:39:00

Trump Says Iran Negotiations Are in Final Stages as Iran Demands Sanction Relief Amid a prolonged conflict in the Middle East, President Donald Trump announced that negotiations with Iran are in the final stages, suggesting a potential end to hostilities. Meanwhile, Iran confirmed it is reviewing U.S. proposals but insists that the release of frozen assets and the cessation of maritime blockades must be prerequisites for any dialogue. On May 20, during a visit to the Coast Guard Academy in New London, Connecticut, Trump told reporters, "We are in the final stages regarding Iran," adding, "Let’s see what happens." He continued, "We will either reach an agreement or face some rough situations, but I hope that doesn’t happen." When asked if he was rushing to resolve the Iran conflict ahead of the November midterm elections, Trump replied, "Everyone talks about the midterms, but I am not rushing at all." Earlier that day, Punchbowl News reported that Republican Congressman Tom Cole, chairman of the House Appropriations Committee, indicated that the Pentagon's funding for operations related to Iran could run out by August, highlighting growing concerns within the GOP about the war. Cole expressed worry that Congress may not have enough time to address additional funding for Iran. In the same vein, Trump did not shy away from applying pressure on Iran. During his commencement address at the Coast Guard Academy, he stated, "We will be watching what happens. We have hit them very hard. We may have to hit them even harder, but maybe not." He emphasized, "We will not allow Iran to have nuclear weapons. It’s very simple." Trump also claimed that Iran's military capabilities have significantly weakened. He stated, "Everything has disappeared. Their navy is gone. Their air force is gone. Almost everything is gone," adding, "The only question is whether we will go in and finish it or whether they will sign a document." Iran Demands Economic Sanctions Relief First As Trump mentioned both the possibility of an agreement and further pressure, Iran confirmed it is reviewing the U.S. proposals. Iranian Foreign Ministry spokesman Esmail Baghaei stated in an interview with state television, "We have received the U.S. perspective and are currently reviewing it closely," explaining that the visit of Pakistan's Interior Minister to Tehran is aimed at facilitating message exchanges between the two countries. Earlier, Iranian state news agency IRNA reported that Pakistani Interior Minister Mohsin Naqvi visited Iran again on May 20 following a previous visit on May 16. Baghaei outlined the prerequisites for dialogue to end the war, emphasizing the need for the release of frozen assets and the cessation of U.S. maritime blockades. He stated, "At this stage, we are focused on ending the war on all fronts, including Lebanon. Our demands are clear: the release of Iran's frozen assets, issues related to piracy, and actions targeting Iranian shipping have all been clearly stated from the beginning." He added, "If this process is based on Iran's legitimate demands, we can say diplomacy has succeeded; otherwise, if unreasonable demands persist, we will obviously not succeed." Meanwhile, Israel has reportedly expressed strong opposition to the ongoing negotiations between the U.S. and Iran. Axios reported that Prime Minister Benjamin Netanyahu criticized the negotiation process during a phone call with Trump, advocating for a resumption of hostilities against Iran. Sources indicated that Trump informed Netanyahu that mediators are preparing a 'letter of intent' to secure signatures from both the U.S. and Iran. This letter is said to outline a 30-day negotiation period to officially end the war and discuss Iran's nuclear program and the reopening of the Strait of Hormuz. Netanyahu remains skeptical about the negotiations with Iran, asserting that military action should be resumed to weaken the Iranian regime and its military capabilities. A U.S. source noted, "Netanyahu was very angry after the call with Trump."* This article has been translated by AI. 2026-05-21 16:36:31

KG Mobility Hires Former Hyundai Executive to Boost Exports KG Mobility has taken a significant step in its global market strategy by hiring a former Hyundai Motor executive. On May 21, industry sources reported that KG Mobility appointed Han Chung-seop as the head of its Overseas Business Division. The company disclosed the new executive in its first-quarter audit report. Han has extensive experience in overseas sales, having previously managed operations in Latin America and the Middle East at Hyundai Motor. His expertise is expected to support KG Mobility's strategy for expanding its international sales. Recently, KG Mobility has restructured its overseas business organization to enhance its responsiveness to the global market. KG Group Chairman Kwak Jae-sun visited Vietnam in March to assess the progress of local assembly production (KD). In April, the company held a global launch event for its Musso pickup truck in Turkey, its largest export market. The company's export share is also increasing. In the first quarter, out of 27,077 vehicles sold by KG Mobility, 15,608 were exported, accounting for 57.6% of total sales. A KG Mobility representative stated, "The hiring of Han Chung-seop appears to be a strategic move to expand into overseas markets."* This article has been translated by AI. 2026-05-21 16:33:54

CJ Olive Young Launches First U.S. Store in Pasadena, California CJ Olive Young is set to make a significant entry into the U.S. beauty market by opening its first standalone store and launching a dedicated online shop simultaneously. Positioned in the heart of Pasadena, California, an area dominated by major beauty retailers like Sephora and Ulta Beauty, the store aims to serve as a showcase for K-beauty and a launchpad for domestic indie brands entering the U.S. market. The Pasadena location, named "Olive Young Pasadena," will open on May 29 (local time) on Colorado Boulevard, a prime shopping district in California. This area is known for its concentration of global premium brands, including Apple, Lululemon, and Tiffany & Co. The store will span approximately 803 square meters (about 243 pyeong), comparable in size to Olive Young's major outlets in South Korea. The Pasadena store will focus exclusively on K-beauty, featuring over 400 brands and more than 5,000 products, with more than 80% of the offerings being K-beauty and K-wellness items. The store will adapt quickly to trends, updating its product curation every two weeks. Inside the store, "The Beauty Lab" will offer free skincare lessons that include self-diagnosis using skin scan devices, followed by personalized consultations. Olive Young's unique "half-service" model, which allows customers to explore freely while still having access to professional beauty advice, will be implemented in the U.S. market. Alongside the Pasadena store, Olive Young will launch a dedicated online shopping platform for U.S. customers. The company recently established a 3,600-square-meter (about 1,100 pyeong) automated logistics center in Bloomington, California, which has reduced delivery times from 5-7 days to 3-5 days. Additionally, the minimum purchase for free shipping has been lowered from $60 to $35 for the local online store, making it more accessible for customers. Olive Young will also introduce the "OY Members" program, an integrated online and offline membership system that offers differentiated benefits based on membership levels. The company plans to support local marketing for smaller brands through its own promotions, such as "Brand of the Week." Lee Sun-jung, CEO of Olive Young, stated, "Just as we have helped numerous small and medium brands grow in a market once dominated by a few large international brands, we aim to contribute to the deeper establishment of K-beauty and K-lifestyle in overseas markets." Kwon Ga-eun, head of Olive Young's U.S. operations, added, "The Pasadena store will serve as a forward base for introducing various domestic brands to the global market, leveraging Olive Young's insights and brand incubating capabilities developed in Korea." * This article has been translated by AI. 2026-05-21 16:31:45

Construction Oversight Lapses at Samsung Station GTX-A Project At the Samsung Station construction site for the GTX-A line, it has been confirmed that the oversight team marked inspection results as 'satisfactory' for two consecutive months despite being aware of the missing 178 tons of rebar. Additionally, it has come to light that Seoul City submitted the oversight team's construction management report to the Korea Railroad Corporation without independent verification, raising concerns about the overall construction, oversight, and supervision system.According to the 'Construction Management Report for the Underground Complex Development Section 3' obtained by Park Yong-gap, a member of the National Assembly's Land, Infrastructure and Transport Committee, the oversight company, Saman, continued to give passing grades on inspection checklists even after acknowledging the missing rebar.Hyundai Construction, the contractor, first identified the missing 178 tons of rebar in 80 columns on October 23, 2025, through its own quality checks. The company informed the head of the oversight team on October 30 and subsequently emailed the details to Seoul City on November 10.However, the oversight team, despite knowing about the missing rebar, marked all key items on the inspection checklists dated November 11 and 14 as 'pass,' including questions about the accuracy of rebar spacing and the condition of the rebar's size, shape, and assembly. Inspection requests submitted later, such as on December 23, also recorded the rebar placement as 'satisfactory and passing.'Seoul City was aware of the structural deficiencies reported in November but accepted the oversight team's report without question. The city then submitted the construction management report to the Korea Railroad Corporation, the project client.The issue is expected to lead to disputes over liability under the Construction Technology Promotion Act. Seoul City maintains that the matter was addressed through internal checks during construction and does not constitute a 'construction accident' since there were no fatalities or property damage. However, critics argue that immediate site inspections and reports to the Ministry of Land, Infrastructure and Transport should have been conducted as soon as concerns about construction quality arose.The Ministry has already begun audits of both Seoul City and the Korea Railroad Corporation. A special inspection team has also been formed to review overall construction, safety, and quality management.Cost burdens due to project delays are another concern. If reinforcement work and external verifications continue, it could disrupt the schedule for non-stop service at Samsung Station and its official opening. This raises the possibility of increased financial liabilities for operational loss compensation to private contractors.In the political arena, there are calls for financial accountability. During a recent inquiry by the National Assembly's Land, Infrastructure and Transport Committee, Democratic Party lawmaker Han Jun-ho stated, "We cannot pass the costs of construction failures and delayed responses onto taxpayers," suggesting the need for a review of claims against Seoul City, Hyundai Construction, and the oversight company Saman. In response, Minister of Land, Infrastructure and Transport Kim Yoon-deok agreed, stating, "That is only natural."* This article has been translated by AI. 2026-05-21 16:29:03

Im Soo-jung Chooses 'DCLASSY CaHA' to Target Collagen Booster Market DNC Aesthetics is making strides in the collagen booster market with its premium medical aesthetics brand, 'DCLASSY.' As demand for natural skin improvement and long-term skin health grows, the company is accelerating its market expansion with 'DCLASSY CaHA,' which emphasizes safe ingredients and natural volume formation. According to industry sources, DCLASSY CaHA is a collagen booster based on calcium hydroxyapatite (CaHA). CaHA is known for its high biocompatibility and is a mineral component that makes up human bones and teeth. Unlike hyaluronic acid (HA) fillers that directly fill the injection site, DCLASSY CaHA creates volume immediately after the procedure and gradually breaks down in the body, inducing natural collagen production. It stimulates fibroblasts in the skin to improve skin elasticity and texture, enhancing the overall skin environment. A research team led by Professor Park Gwi-young at Chung-Ang University found that after 24 weeks of treatment with the CaHA collagen booster, improvements in mid-facial volume, skin hydration, barrier function, and elasticity were observed. Notably, a pilot study involving ten adults aged 19 to 70 showed significant improvements in skin barrier, hydration, elasticity, and wrinkle reduction. Additionally, a separate clinical study involving 32 adults aged 35 to 59 confirmed an average 51% increase in dermal and epidermal thickness based on ultrasound evaluations. The study also indicated that patient satisfaction remained high for over a year. DCLASSY has recently appointed actress Im Soo-jung as its brand model and is expanding its brand campaign across various channels, including TV advertisements, digital photo shoots, OTT platforms, YouTube, and digital signage. This strategy aims to broaden consumer engagement in the premium medical aesthetics market. An industry insider noted, "There is a clear trend in the medical aesthetics market favoring natural changes, such as improved skin elasticity and texture. The CaHA-based collagen booster aligns with recent market demands for enhancing the skin's internal environment and promoting healthy changes." 2026-05-21 16:27:23