Kim Bo-mi Undergoes Surgery for Kidney Stones Actress Kim Bo-mi has revealed that she underwent surgery for kidney stones. On May 21, Kim shared a lengthy post on her social media account, describing her challenging hospital experience. She recounted, "The pain in my abdomen started on my birthday. I thought it would get better, but after attending my birthday party, I had to rush home. When I woke up the next morning, I felt fine, but by around 2 p.m., the pain returned, and I felt like I was going to lose consciousness, so I called an ambulance." Kim mentioned that she experienced pain even during the ambulance ride, stating, "Once I arrived at the emergency room, I received three bags of painkillers and finally managed to sleep. The diagnosis was kidney stones. However, due to it being the weekend, I had to find a facility that could perform shockwave treatment, but the stones did not break, leading me to return to the emergency room." She continued, "Ultimately, I was hospitalized, and it turned out that I had kidney stones not only in my abdomen but also in my kidneys, which shocked everyone. Anyway, the surgery went well, and I was discharged today. I need to rest at home for a while." Kim added, "They inserted something like a hose into my body, which I will have to remove in a month. I am still in a lot of pain, and there is significant bleeding when I urinate. Kidney stones are terrifying. Everyone, please be careful." Kim Bo-mi married ballet dancer Yoon Jeon-il in 2020 and has one son and one daughter with him. 2026-05-21 16:07:31

Concerns Grow Over Iran War Budget Depletion Within Three Months Concerns have emerged within the U.S. Republican Party that funding for the Iran war could run out in three months. As the conflict approaches its third month and shows signs of prolongation, worries are growing among Republicans ahead of the midterm elections scheduled for early November. On May 20, Tom Cole, the Republican chair of the House Appropriations Committee, warned that the Department of Defense's funding for the Iran-related war could be depleted by August. Cole expressed his concerns, stating, "We are running out of time to process additional budget proposals," adding that he is "very worried" about the situation. The House Appropriations Chair plays a crucial role in the federal budget process. Cole's comments indicate that the financial burden of the Iran war is becoming a significant issue within the Republican Party. This concern arises amid declining public support for the Iran war. A recent poll conducted by The New York Times and Siena College, released on May 18, revealed that 64% of respondents viewed the Iran war as a "bad decision," while only 30% considered it a "good decision." Congressional pushback is also intensifying. The U.S. Senate recently voted to advance a resolution limiting President Trump's war powers regarding Iran, passing the procedural motion with 50 votes in favor and 47 against. In this vote, Republican Senators Susan Collins (Maine), Lisa Murkowski (Alaska), Rand Paul (Kentucky), and Bill Cassidy (Louisiana) supported the measure. Only Senator John Fetterman (Pennsylvania) from the Democratic Party voted against it. Since the onset of the Iran war, the Strait of Hormuz, through which about one-fifth of the world's oil maritime transport passes, has effectively been closed. Consequently, international energy prices have surged, increasing the economic burden associated with the prolonged conflict.* This article has been translated by AI. 2026-05-21 16:03:47

Tesla Korea Transitions to Two-CEO Structure Following Executive Departure Tesla Korea has shifted from a three-CEO structure to a two-CEO model. According to industry sources on May 21, Kenneth Ernest Moore, who served as CEO of Tesla Korea, resigned on May 1. Moore took on the role on March 9, 2023, and has now stepped down after nearly three years. With his departure, the remaining CEOs are David John Feinstein and Seo Young-deuk. Moore is expected to take on a role in accounting and financial management at Tesla's headquarters in the United States. He did not have a significant presence in the Korean operations. However, there remains a possibility that Tesla Korea will appoint a new CEO, so it is uncertain whether the company will fully transition to a two-CEO structure.* This article has been translated by AI. 2026-05-21 16:03:00

Decision on Transfer of Wartime Operational Control Expected This Year South Korean military authorities believe that the evaluation and verification of the Full Mission Capability (FMC), the final stage in the transfer of wartime operational control, can be completed in about a year. The government is also considering a plan to finalize the verification of full operational capability this year and present a target year for the transfer of operational control. A Defense Ministry official stated on May 20 that if the target year for the transfer is determined during this year's verification of full operational capability, the evaluation and verification of FMC will begin immediately, leading into the final stage of the transfer process. Once the verification of the future combined command, which will oversee joint U.S.-South Korean operations during wartime, is completed, the defense ministers of both countries will propose a specific date for the transfer to their respective presidents. The government believes that the FMC evaluation and verification can be completed within a year since both processes can be conducted simultaneously. The Defense Ministry official added that during the U.S.-South Korea Integrated Defense Dialogue (KIDD) held on May 12 and 13, the goal was to finalize the roadmap for the transfer of operational control, but the process has been delayed due to the extensive content that needs to be addressed. He emphasized that the transfer is a matter decided at the policy and political level. Discussions are ongoing between the U.S. and South Korea regarding how to assess modern warfare, which has evolved with new weapon systems and changes in combat methods. Additionally, the management of the Northern Limit Line was officially discussed as an agenda item during the KIDD meeting. The Defense Ministry official noted that the Northern Limit Line is not a perfectly straight line and that since 2011, there has been a need to change the requirement for U.S. permission to cross certain areas. He stated that significant progress was made during this discussion. * This article has been translated by AI. 2026-05-21 16:00:12

Jung Cheong-rae Supports Park Soo-hyun and Kim Young-bin in Chungnam Elections Jung Cheong-rae, the chief election officer of the Democratic Party, visited Chungnam on May 21, the first day of the official campaign for the June 3 local elections and National Assembly by-elections. He urged voters to choose candidates who can lead legislation and budget management, specifically supporting Park Soo-hyun for Chungnam governor and Kim Young-bin for the Gongju, Buyeo, and Cheongyang National Assembly seat. At a joint campaign rally held in Gongju, Jung stated, "For Chungnam to prosper, the government and local leaders must work in harmony." He praised Park, saying, "Among the lawmakers I have met, he is the most capable and attentive. He always carries a notebook, as if he has a tape recorder running, and he will consider everything the residents of Chungnam need." Jung also encouraged support for Kim, stating, "Help Kim continue Park's legacy in his district. If supporters of President Lee Jae-myung turn out to vote, both Park and Kim will win overwhelmingly." He added, "A harmonious household leads to effective management, so please assist in fostering cooperation between the governor and the National Assembly member for the development of Chungnam." Furthermore, he highlighted the progress made since overcoming the December 3 emergency martial law, asserting that South Korea is becoming increasingly normalized. He noted that during the Yoon Suk-yeol administration, the KOSPI index did not even reach 3,000, but it has more than doubled in the year since Lee Jae-myung's government took office. Jung remarked, "This indicates that the world recognizes South Korea, and it is evidence of restored national trust and democracy."* This article has been translated by AI. 2026-05-21 15:57:36

China and Russia Formalize Joint Front Against U.S. with Enhanced Military and Economic Cooperation China and Russia have agreed to expand their joint front against the U.S.-led international order across military, economic, and technological sectors. The two nations extended their existing friendship treaty and criticized U.S. missile defense plans and sanctions against Russia. They also aligned their positions on issues concerning Taiwan, the Ukraine war, and Iran, while agreeing to enhance joint military exercises and naval and air patrols. On May 20, Chinese President Xi Jinping and Russian President Vladimir Putin held a summit in Beijing, where they signed a joint statement on strengthening comprehensive strategic cooperation and deepening friendly ties. Putin visited China for two days starting May 19, and both leaders attended the opening ceremony of the 2026-2027 'China-Russia Year of Education.' Security Cooperation Aimed at the U.S. The core focus of the China-Russia partnership is its long-term sustainability. Both countries emphasized that this year marks the 30th anniversary of their strategic partnership and the 25th anniversary of the 'China-Russia Treaty of Good-Neighborliness and Friendly Cooperation.' They agreed to extend the treaty, stating that their relationship is characterized by non-alignment, non-confrontation, and not targeting third countries. However, the statement included language that appeared directed at the U.S. and the West regarding security, economic, and regional issues. The language targeting the U.S. was particularly strong. The statement declared opposition to “hegemonism and unilateralism,” as well as to unilateral and secondary sanctions, discriminatory tariffs, and restrictive measures. It also criticized actions that freeze, seize, or divert the national assets of other countries, interpreted as a reference to Western moves to use frozen Russian assets for aid to Ukraine and the U.S.-led sanctions regime. In the security domain, the statement directly criticized the U.S. 'Golden Dome' missile defense initiative. China and Russia argued that this plan, which combines ground and space-based defense systems, undermines strategic balance and increases the risk of an arms race in space. They effectively defined the U.S.-led next-generation missile defense system as a common security threat to both nations. Military cooperation was also specifically outlined. The two countries agreed to enhance mutual trust in military affairs and improve their cooperation framework. They committed to expanding joint exercises and naval and air patrols, as well as strengthening security coordination within bilateral and multilateral frameworks. Unified Stance on Taiwan, Ukraine, and Middle East Issues On the Taiwan issue, Russia fully supported China's position, reaffirming its commitment to the One China principle and stating that “Taiwan is an inseparable part of Chinese territory.” Russia opposed any form of “Taiwan independence” and expressed support for China's national unification efforts. China, in turn, affirmed its support for Russia's national security, sovereignty, and territorial integrity. Regarding the Ukraine war, the statement echoed Russian claims, asserting that the “root causes of the Ukraine crisis must be addressed” and emphasizing the need for “long-term and sustainable peace.” Russia praised China for taking an “objective and fair stance” on the Ukraine issue. The joint statement also addressed Northeast Asian issues, criticizing NATO's expansion into the Asia-Pacific and the AUKUS security pact involving the U.S., the U.K., and Australia. On the Korean Peninsula, they opposed diplomatic isolation, economic sanctions, and military pressure on North Korea, calling for a political and diplomatic resolution. In the Middle East, the statement directly criticized the U.S. and Israel, stating that “the military attacks by the U.S. and Israel against Iran violate international law and fundamental principles of international relations, undermining stability in the Middle East.” They called for a sustainable ceasefire and humanitarian access in Gaza and emphasized that the Palestinian issue should be resolved based on a two-state solution. Expanding Economic Cooperation in Response to Sanctions; Gas Pipeline Agreement Fails In the economic sphere, the focus was on responding to sanctions and stabilizing supply chains. The two nations agreed to expand cooperation in sectors such as automotive, shipping, civil aviation, digital economy, artificial intelligence, e-commerce, and mineral development. They also committed to increasing transactions in their national currencies and enhancing cooperation in banking and capital markets. Energy cooperation was also a major agenda item. Both countries agreed to strengthen collaboration in oil, gas, coal, civilian nuclear power, and renewable energy, ensuring stable operation of energy transport networks. However, the anticipated major gas pipeline project, 'Power of Siberia 2,' did not reach a final agreement. The Kremlin stated that there was a broad consensus, but key conditions such as pricing and timelines remain unresolved. Norms for AI and space cooperation were also included in their strategic partnership. They stated their opposition to using AI as a geopolitical tool for maintaining hegemony. Russia welcomed China's proposal to establish a global AI cooperation organization. In the space sector, they agreed to promote international lunar research bases and deep space exploration cooperation, as well as enhance the integration of the BeiDou and GLONASS satellite navigation systems.* This article has been translated by AI. 2026-05-21 15:55:46

Korean capital return to home stock market a trickle versus Wall Street rush SEOUL, May 21 (AJP) - A South Korean government account designed to lure retail capital home from overseas markets has drawn nearly 2 trillion won ($1.33 billion) in its first two months, with investors cashing out of Nvidia and Tesla to buy Samsung Electronics and SK hynix, according to the Korea Financial Investment Association Thursday. Impressive in isolation, the return however is paltry against the roughly 300 trillion won Koreans now hold in Wall Street, a record set this month despite migration to Seoul. The Reshoring Investment Account, or RIA, held a cumulative 1.94 trillion won across 242,856 accounts as of Tuesday, up about 1.02 trillion won a month earlier, the association said. The account was introduced on March 23 as part of a package of currency-stabilization measures, offering investors who sell foreign stocks and reinvest at home a temporary exemption from the 22 percent capital gains tax on overseas equities, capped at 50 million won in sale proceeds per person. The U.S. dollar hovering above 1,500 won suggests the account scheme has helped little to bolster the local currency. The flows show a clear rotation out of U.S. big tech and into Korean semiconductors. From the program's launch through May 8, RIA users sold the most Nvidia, at 180.1 billion won, and Tesla, at 50.4 billion won, along with leveraged products such as the Direxion Daily Semiconductor Bull 3X fund. Their favorites were Samsung Electronics at 78 billion won and SK hynix at 66.7 billion won, with index funds such as the KODEX 200 also among the top buys. Of the total balance, 1.21 trillion won has moved into domestic assets. The scale relative to overseas holdings underscores how early the shift remains. When the account held about 1.02 trillion won in late April, that represented roughly 0.38 percent of the 260 trillion won Koreans then held in U.S. stocks, and the average account balance of 6.36 million won was just 12.7 percent of the per-person cap. By mid-May, total Korean holdings of U.S. stocks had climbed to a record $200.3 billion, or about 300 trillion won, as AI and chip strength drew fresh money back to Wall Street even as RIA channeled some of it home. Older investors have led the inflows, reflecting larger accumulated overseas portfolios and bigger tax bills to shelter. As of May 8, Koreans in their 40s made up 31 percent of RIA holders and those in their 50s 26 percent, together a majority, followed by investors in their 30s at 21 percent and those 60 and older at 12 percent. By balance, investors in their 50s held 32 percent and those in their 40s 27 percent, nearly 60 percent of the total between them. The benchmark KOSPI has shot up nearly 80 percent this year, while the U.S. dollar rose nearly 5 percent to 1,506.8 won as of Wednesday from December-end. Korean retail net purchases of U.S. stocks had fallen to about $400 million in the first 20 days of March, roughly one-tenth of January's $5 billion, before reversing again in May. The incentive however loses appeal from next month. The capital gains deduction is 100 percent through the end of May, but they fall to to 80 percent from June through July and 50 percent from August through year-end, after which the program is set to expire. Because overseas trades carry a gap between execution and settlement, investors seeking the full exemption must complete settlement by the end of May. Only stocks held as of December 23, 2025 qualify, and proceeds must remain in domestic stocks, equity funds or deposits within the account for one year after settlement to avoid a clawback of the benefit. "The Reshoring Investment Account is significant in that it created an occasion for liquidity that had stayed in overseas markets to flow into the domestic capital market," said Han Jae-young, a department head at the association. He said the body would continue working with the industry to develop attractive domestic products so the account can serve as a channel for currency stability and productive finance. 2026-05-21 15:55:33

Kakao Union Votes for Strike Amid Ongoing Labor Dispute As labor disputes over bonuses and job security escalate, Kakao faces its first potential strike at its headquarters since its founding. The Kakao branch of the National Chemical Fiber Food Industry Workers' Union has approved a strike vote, increasing pressure on the company. The outcome of the second mediation session with the Gyeonggi Provincial Labor Relations Commission on May 27 is expected to be a critical turning point. On May 21, the information technology (IT) industry reported that five Kakao subsidiaries, including Kakao Pay, Kakao Entertainment, DK Tech, and XL Games, held a "2026 Collective Bargaining Victory Rally" at Pangyo Station in Seongnam, Gyeonggi Province, where union members voted in favor of a strike. The company and union extended the mediation period until May 27 after failing to reach an agreement during the first mediation meeting on May 18. If the second mediation also fails, the Kakao headquarters union will secure the right to strike. Some subsidiary unions have already obtained this right due to a decision to halt mediation. The two sides remain divided over the performance compensation system and job security. The union argues that employees have significantly contributed to Kakao's profitability and therefore deserve fair performance distribution. The company, however, is cautious about increasing compensation due to uncertainties surrounding its investments in artificial intelligence (AI) and business restructuring. During the rally, the Kakao union presented joint demands including: management reform and accountability, job security and community safety nets, fair performance compensation and profit distribution, and the establishment of universal labor conditions and welfare systems. Industry observers note that the current actions of the Kakao union carry more weight than last year's events. The Kakao Mobility union had previously announced a phased strike following a breakdown in wage negotiations, conducting partial strikes of two and four hours. However, no further strikes occurred during the negotiation process. In contrast, the current mobilization involves Kakao's headquarters and major subsidiaries, indicating a larger scale and potential impact. The Kakao headquarters oversees key operations related to KakaoTalk, advertising, commerce, and AI strategies, drawing significant industry attention. If a strike materializes, it could affect the stability of major services like KakaoTalk and the timeline for AI project development. Unlike manufacturing, a strike at an IT company like Kakao is less likely to lead to immediate service disruptions. The platform operates on automated server systems and a continuous response organization, making it improbable that a short-term strike would paralyze services like KakaoTalk. However, prolonged labor disputes could hinder the development of new services and project timelines. Kakao is currently transitioning KakaoTalk from a simple messaging app to an AI agent platform that integrates conversation, search, recommendations, and payments. A prolonged gap in development personnel could delay the rollout of new AI features and service enhancements. Kakao Pay is also expected to maintain its payment and remittance services despite the strike. However, analysts suggest that operational stability and external trust could be affected. Kakao Enterprise and DK Tech, which handle cloud and AI-based business-to-business operations and internal development and support, may experience some impact on technical support, maintenance, and new project implementations if the strike continues. Kakao has stated that it is focused on labor negotiations. A company representative said, "Since both sides agreed to extend the mediation period on May 18, we will continue to strive for a smooth agreement during the remaining time." 2026-05-21 15:53:02

U.S. Treasury Secretary Bessent Supports BOJ's June Rate Hike Scott Bessent, the U.S. Treasury Secretary, expressed support for the Bank of Japan's (BOJ) policy decisions following a meeting with BOJ Governor Kazuo Ueda, drawing attention to the possibility of an additional rate hike in June. As the yen weakens and Japanese long-term interest rates rise, analysts suggest that U.S. remarks may exert indirect pressure on the cautious Japanese government regarding rate increases. The Nihon Keizai Shimbun reported that Ueda met with Bessent in Paris on May 19, marking a rare direct meeting between the BOJ governor and the U.S. Treasury Secretary. The discussions reportedly included financial policy, adding significance to the encounter. Ueda described the meeting as an opportunity that arose, without disclosing specific details of their conversation. He noted that he has known Bessent for a long time and has met him whenever possible. In an interview with Reuters on the day of their meeting, Bessent stated, "I am confident that if given the necessary conditions, he will implement excellent monetary policy." The Nihon Keizai Shimbun interpreted this statement as backing the BOJ's independent decision-making regarding interest rate hikes, considering the political pressures from the cautious Takaichi administration. After the meeting, Bessent posted on social media platform X, expressing that the fundamentals of the Japanese economy are solid and that excessive currency fluctuations are undesirable. The U.S. Treasury has previously indicated in its foreign exchange policy reports that ongoing rate hikes by the BOJ could help alleviate yen depreciation. This has led to speculation within the Japanese government that the U.S. may be indirectly urging the BOJ to raise rates again, according to the Nihon Keizai Shimbun. The Trump administration had pursued a weaker dollar, and an expanding yen depreciation could lead to a stronger dollar, potentially hindering that goal. The market also sees a high likelihood of a BOJ rate hike in June. As of May 20, the probability of a rate increase at the BOJ's monetary policy meeting was reported to be 80%. Mari Iwashita, chief interest rate strategist at Nomura Securities, noted, "We can confirm that Bessent continues to support the BOJ's rate hike stance." The yield on Japan's 10-year government bonds, a key indicator of long-term rates, reached 2.8% on May 18, marking its highest level in nearly 29 years. Concerns are growing in the market that the BOJ may fall behind the curve in responding to inflation and interest rate trends due to Japan's fiscal expansion and potential delays in rate hikes. Within the BOJ, support for rate hikes is gaining momentum. At the previous monetary policy meeting in April, three out of nine policy board members opposed keeping rates unchanged. Kazuyuki Masu, a board member who supported the freeze, expressed a positive attitude toward early rate hikes in a speech on May 14. If he supports a rate increase, the pro-hike faction within the BOJ could approach a majority. Bessent had previously visited Japan from May 11 to 13, meeting with Prime Minister Takaichi and Finance Minister Satsuki Katayama, but did not meet with Ueda at that time. The recent meeting in Paris has positioned the BOJ's June rate decision as a key variable in addressing yen depreciation.* This article has been translated by AI. 2026-05-21 15:49:32

Act Calls for Strict Review of Huons Lab Merger as New Form of Backdoor Listing Act, a platform for minority shareholders, has urged financial authorities to conduct a strict review of the merger between Huons Global and its unlisted subsidiary, Huons Lab, calling it a new form of backdoor listing. On May 21, Act announced the launch of a petition drive to gather signatures for a letter to the Financial Supervisory Service and the Korea Exchange. The merger involves Huons Global, which holds a 64.1% stake in the unlisted Huons Lab, absorbing the listed company Huons. Minority shareholders argue that Huons Lab, which possesses the key growth asset of the subcutaneous injection platform technology 'High Diffuse,' is being merged in a manner that avoids scrutiny typically applied to backdoor listings. They point out that while unlisted subsidiaries are usually subject to regulations regarding 'splitting listings,' merging with an already listed affiliate may exempt the transaction from backdoor listing reviews due to the lack of a change in the largest shareholder.Minority shareholders also contend that the estimated corporate value of Huons Lab at 129 billion won, as assessed by an external agency, does not reflect its future growth potential and is undervalued. Act's representative, Lee Sang-mok, stated, "This structure effectively resembles a subsidiary listing, and the exchange should conduct a qualitative review equivalent to that of a backdoor listing." He added, "If this method is allowed, it could set a precedent for holding companies to circumvent regulations on dual listings." The absence of shareholder protection measures has also been raised as a concern. Minority shareholders of Huons Global are unable to exercise their rights, such as the right to demand stock buybacks, because the merger does not require a vote at the holding company's general meeting. Investors reacted swiftly; from May 11, when rumors of the merger began circulating, to May 18, just before the announcement, Huons Global's stock price fell by 50%, while Huons' stock rose by 18.3%. Lee Sang-mok emphasized, "The method of merging an unlisted affiliate into a listed one exploits a loophole in the system, and we will do our utmost to ensure this matter does not set a bad precedent in the capital market." Meanwhile, Huons has stated that the merger aims to expand its pipeline of biopharmaceuticals being developed by Huons Lab, in addition to its existing synthetic drug candidates, thereby securing high-value future growth drivers. * This article has been translated by AI. 2026-05-21 15:48:22