Lotte Celebrates 10th Anniversary of 'Mom-Friendly' Festival, Donates 500 Million Won to Combat Low Birth Rates Lotte Group is taking steps to address the low birth rate issue and improve child care environments.The company announced that it is hosting the 'Lotte Mom-Friendly Festival' from May 19 to 21 at Seoul City Hall's lawn in collaboration with the Green Umbrella Children's Foundation and the Community Chest of Korea.This event marks the 10th anniversary of Lotte Group's flagship social contribution initiative, 'Mom-Friendly.' It is designed as a festival where citizens can actively participate and experience the value of child care.The opening ceremony featured Lotte Holdings Communication Director Im Seong-bok, Community Chest of Korea President Yoon Yeo-jun, Green Umbrella Children's Foundation President Hwang Young-ki, Permanent Committee Member of the Low Birth Rate and Aging Society Committee Park Jin-kyung, and Seoul Deputy Mayor Park Chan-goo.During the event, Lotte announced a donation of 500 million won to the Green Umbrella Children's Foundation and the Community Chest of Korea to help combat the low birth rate crisis and improve conditions in child care facilities.The festival is organized into four thematic zones: school routes, learning, play, and rest. Each area features a variety of programs, including child rights education, safety training, and creative experiences.Since 2017, Lotte has focused on expanding child care infrastructure through initiatives like 'Mom-Friendly Dream Space' (100 locations) to improve after-school child protection facilities and 'Mom-Friendly Playgrounds' (32 locations) to create public indoor and outdoor play areas.Starting this year, Lotte is broadening its efforts beyond facility support to include raising social awareness. On May 26, the company will hold the first 'Lotte Mom-Friendly Family Awards' ceremony, recognizing individuals and organizations that contribute to promoting healthy family culture, with a total prize of 120 million won.Lotte also supports childbirth and parenting. The company has implemented a 'Mandatory Paternity Leave System,' requiring male employees to take at least one month of parental leave within two years of their spouse's childbirth. Last year, the usage rates were 96% at Lotte Hi-Mart, 71% at Lotte Holdings, and 70% at Lotte Shopping.A Lotte official stated, "We will continue to lead efforts to raise social awareness to overcome the low birth rate crisis and strive to create an environment where children can grow up healthy."* This article has been translated by AI. 2026-05-19 17:46:20

Trump Administration Considers Military Options Against Cuba The Trump administration is escalating pressure on Cuba to include military options. With the Cuban government remaining defiant despite sanctions and fuel restrictions, the U.S. is considering everything from airstrikes to ground invasions. On May 18, Politico reported that U.S. officials and sources familiar with administration discussions indicated that President Trump and his advisors are feeling limited by their current strategy against Cuba. The Cuban leadership has not accepted the economic and political reforms demanded by the U.S., prompting a more serious consideration of military action. The existing U.S. strategy has relied on economic and diplomatic pressure. Officials believed that tightening sanctions and restricting fuel supplies to Cuba would force Havana to negotiate. There was also an expectation that U.S. military successes in Venezuela and Iran would increase pressure on Cuba. However, Cuba has not acquiesced to U.S. demands. According to sources cited by Politico, the initial plan was based on the assumption that enhanced sanctions, an effective fuel blockade, and U.S. military victories in Venezuela and Iran would compel Cuba to the negotiating table. The sources noted that Cuba's resilience has made military action a more realistic option than previously considered. Military reviews are reportedly leading to actual planning efforts. The U.S. Southern Command has begun preparations for potential military actions related to Cuba in recent weeks, although no immediate actions are expected. A White House official told Politico, "It is natural for the Department of Defense to prepare to provide the president with maximum options. However, this does not mean the president has made a decision." The options being considered go beyond the arrest of specific individuals. Following reports of efforts to indict former Cuban leader Raul Castro, there has been speculation about arrest operations. However, Politico reported that military planners are examining a broader range of options, from airstrikes to ground invasions aimed at regime change. The administration is also building a rationale to support its military option considerations. Marco Rubio, Secretary of State and National Security Advisor, recently stated in a Fox News interview, "As long as these people are in power, I don’t think we can change the direction of Cuba." Reports have also surfaced that Cuba has acquired hundreds of military drones, further fueling security concerns. Cuba has strongly opposed these developments. Cuban President Miguel Díaz-Canel wrote on X (formerly Twitter) that a U.S. military attack would lead to "bloodshed with unimaginable consequences." A variable in this situation is President Trump’s political calculations. With rising oil prices and increasing pressure on his approval ratings due to the fallout from the Iran war, a military operation in Cuba could present additional risks. Experts warn that the U.S. may underestimate Cuba's resolve. Brian Latell, a former senior CIA official, cautioned, "While small-scale operations may be considered, thinking that way could lead to overestimating what they can achieve."* This article has been translated by AI. 2026-05-19 17:43:47

KOSPI Plummets Over 3% as Foreign Investors Sell Off 6 Trillion Won The KOSPI index fell more than 3%, dropping below the 7,300 mark due to a massive sell-off by foreign investors. The KOSDAQ also declined by over 2%. This downturn is attributed to concerns over prolonged high interest rates in the U.S. and uncertainties in the semiconductor market, coupled with profit-taking following recent gains. On May 19, the Korea Exchange reported that the KOSPI closed at 7,271.66, down 244.38 points (3.25%) from the previous trading day. The index opened at 7,425.66, down 90.38 points (1.20%), and fell further to a low of 7,141.91 during the session. Although it recovered some losses in the latter part of the trading day, it ultimately failed to maintain the 7,300 level. In the securities market, individual investors purchased a net 5.63 trillion won worth of stocks, while foreign and institutional investors sold a net 6.26 trillion won and 527.7 billion won, respectively. Foreign investors have now sold off over 42 trillion won in stocks over nine consecutive trading days. Most of the top market capitalization stocks experienced declines. Samsung Electronics fell by 1.96%, SK Hynix by 5.16%, SK Square by 6.68%, Hyundai Motor by 8.90%, LG Energy Solution by 1.96%, Samsung Electro-Mechanics by 4.27%, Doosan Enerbility by 5.44%, HD Hyundai Heavy Industries by 2.76%, and Samsung Life by 0.48%. In contrast, Hanwha Aerospace rose by 4.81%, benefiting from strong defense sector performance, making it the only stock among the top 10 to close higher. Profit-taking was particularly concentrated among automotive and robotics-related stocks, such as Hyundai Motor and LG Electronics, which had surged recently due to momentum in robotics. Concerns over escalating labor disputes between Hyundai Motor and its labor union have also dampened investor sentiment across the group. The KOSDAQ index closed at 1,084.36, down 26.73 points (2.41%) from the previous day. The index opened slightly higher at 1,111.36 but fell to a low of 1,063.28 as selling pressure from foreign and institutional investors increased. In the KOSDAQ market, individual and foreign investors bought a net 1.03 billion won and 10 million won worth of stocks, while institutions sold a net 658 million won. Among the top KOSDAQ stocks, Alteogen rose by 2.52%, but EcoPro BM fell by 4.20%, EcoPro by 4.10%, Rainbow Robotics by 10.72%, Kolon TissueGene by 1.66%, Samchundang Pharm by 2.14%, JUSUNG Engineering by 2.91%, Rino Technology by 4.85%, HLB by 1.59%, and ABL Bio by 0.18%, all closing lower. Im Jeong-eun, a researcher at KB Securities, noted, "The U.S. stock market showed mixed signals, with concerns over sustained high interest rates and comments from Seagate's CEO regarding semiconductor supply constraints leading to a more than 2% drop in the Philadelphia Semiconductor Index. In the absence of significant market momentum ahead of the Federal Open Market Committee (FOMC) minutes and NVIDIA's earnings report, profit-taking continued to be a theme." She added, "Foreign investors recorded a net sell-off of around 6.2 trillion won in the KOSPI market today, indicating a significant increase in recent market volatility. Moving forward, differentiated market trends are expected depending on the momentum from NVIDIA's AI semiconductor developments and the outcomes of key macro events." Meanwhile, in the Seoul foreign exchange market, the weekly closing exchange rate for the won against the dollar was 1,507.8 won, up 7.5 won from the previous day.* This article has been translated by AI. 2026-05-19 17:40:37

Uniqlo's flagship outlet to return to Seoul's shopping district of Myeong-dong SEOUL, May 19 (AJP) - Japanese fast-fashion brand Uniqlo is returning to Seoul's major shopping district of Myeong-dong later this week. The reopening of its Myeong-dong outlet, slated for Friday, comes after most of its stores gradually exited the market about five years ago except for a few key locations, due to South Koreans' boycott of Japanese products over historical spats between the neighboring countries, compounded by declining sales during the coronavirus pandemic. As tourism has picked up and relations between the two countries have shown signs of improvement, the Japanese retailer appears to be betting on the South Korean market to regain lost ground. With the closure of its previous largest store at Lotte Department Store in Sogong-dong late last month, the new Myeong-dong outlet will serve as its flagship store, spanning three floors and covering 3,254.8 square meters, with women's, men's, and children's sections all in a single space. The store also has pickup booths where customers can collect online orders within an hour of purchase, bridging online and in-store shopping. Some 54 fitting rooms are spread across the three floors, including one dedicated to women on the second floor. On the third floor, a drop-off box for used clothing and garments is also available, along with customization options featuring about 100 embroidery patterns and clothing repair services. Uniqlo's return to Myeong-dong comes as it recovers in South Korea, posting 1.35 trillion won in sales last year, up 27.5 percent from 1.06 trillion won a year earlier, after its revenue fell sharply, with sales dropping from 1.38 trillion won in 2019 to 629.8 billion won in 2020 and 582.4 billion won in 2021, prompting it to close its Myeong-dong store in 2021. It is also attributed to the district's recent recovery, driven by an increase in foreign tourists and fading consumer resistance to Japanese brands. "We hope the store will become a new landmark in Myeong-dong by offering the full lineup for South Korean shoppers and visitors from around the world," said Takao Kuwahara, co-CEO of FRL Korea, the joint venture that operates Uniqlo, during a press tour on Tuesday ahead of the store's grand opening. 2026-05-19 17:40:28

Woori Bank Cuts Mortgage Rates by Up to 0.8% Amid Rising Interest Rates As mortgage rates continue to rise, with the upper limit surpassing 7% annually, Woori Bank has announced additional rate cuts. According to the financial sector on May 19, Woori Bank has reduced the interest rates on its five-year fixed-rate mortgage and variable-rate products by 0.8 percentage points and 0.3 percentage points, respectively, starting today. The bank is increasing preferential rates to lower the final loan rates. As a result, from today, the five-year fixed-rate mortgage will offer preferential rates of up to 1.1% for both the metropolitan and non-metropolitan areas. The variable-rate mortgage will provide preferential rates of up to 0.7%. Woori Bank had previously cut the interest rates on its Woori Apartment Loan five-year fixed-rate mortgage by 0.3 percentage points in the metropolitan area and 0.5 percentage points in non-metropolitan areas in March. Last month, the variable-rate mortgage interest was reduced by 0.4 percentage points. The new preferential rates will be available for loan applications until June 30. Woori Bank has decided to apply higher preferential rates for new loans up to 1.5 trillion won. The same higher preferential rates will apply to variable-rate products for new loans up to 1.5 trillion won. A Woori Bank official stated, "In light of the rapid rise in market interest rates, we are expanding inclusive finance to alleviate the interest burden on actual borrowers." Meanwhile, other banks are also lowering their loan rates in line with the government's inclusive finance policy. On the previous day, Kakao Bank reduced the interest rates on its five-year fixed-rate mortgage and six-month variable-rate products by 0.3 percentage points each. Kakao Bank had also lowered the rates on its mortgage and mortgage refinancing products by 0.2 percentage points and 0.5 percentage points, respectively, last month.* This article has been translated by AI. 2026-05-19 17:39:00

Han Dong-hoon Discusses Possibility of Unification in Election Campaign Han Dong-hoon, an independent candidate in the Busan North Gap by-election, stated on May 19 that public sentiment is guiding the potential for unification with Park Min-sik, the candidate from the People Power Party. He also claimed that if the Democratic Party candidate wins, President Lee Jae-myung will push for the cancellation of his indictment.During a press conference at his campaign office in the Hanjin Building in Busan, Han said, "Public sentiment is already showing how votes should be consolidated to defeat the representative of the Lee Jae-myung administration, which is recklessly pushing for indictment cancellation."He added, "Nothing is absolutely impossible in this world. Those who say otherwise are often harboring fear in their hearts," leaving the door open for a potential unification of the opposition.Han expressed concern about his competitor, Ha Jung-woo of the Democratic Party, saying, "He claims he was sent here on the orders of President Lee. If Ha is elected, it will be as if President Lee received permission here to proceed with the cancellation of the indictment."He continued, "I have been at the forefront of fighting against the cancellation of the indictment, and if it becomes a reality, I will even advocate for impeachment. There is a clear line drawn between President Lee and myself."Han emphasized that rebuilding conservatism involves navigating through the challenges of martial law and impeachment, stating, "If we had regained the right to speak through that process, President Lee would not have been able to go as far as seeking indictment cancellation."He also remarked, "If I, along with ten other lawmakers, had not prevented martial law, would the People Power Party be able to campaign in red uniforms now? I will definitely win and restore the right to speak for conservatism."* This article has been translated by AI. 2026-05-19 17:34:50

Dispute Over Missing Rebar at Samsung Station Spurs Audit by Ministry of Land The Ministry of Land, Infrastructure and Transport has launched an audit of Seoul City and the Korea Railroad Corporation (KRC) following a significant incident of missing rebar in the GTX-A line at Samsung Station. The situation escalated into a dispute over accountability after it was revealed that there was a lack of official communication among relevant agencies for about six months after the rebar deficiency was confirmed, raising concerns about the overall project management system beyond mere construction flaws. According to the Ministry of Land and construction industry sources, the ministry notified Seoul City and KRC on May 18 of an audit regarding allegations of poor construction and delays in reporting related to the underground complex development at the GTX-A Samsung Station section. Investigators will conduct a preliminary investigation by May 21, followed by a formal audit starting May 22. A ministry official stated, "This audit aims to examine whether there were issues in the overall management of this national project," adding that they plan to verify the reasons for the reporting delays by comparing the materials and explanations submitted by Seoul City and KRC. Last November, Hyundai Engineering & Construction, the contractor, discovered the missing main rebar in the underground platform structure during an internal quality inspection and reported it to Seoul City. It was confirmed that some rebar, which should have been installed in two rows according to the design, was only installed in one row, with approximately 2,500 pieces missing, totaling 178 tons. The issue lies in the subsequent response. Seoul City claims it submitted a construction management report, which included the relevant information, to KRC three times between November and January, following the construction management agreement procedures. They explained that time was needed to review and finalize reinforcement methods, sharing the final reinforcement plan with KRC and the Ministry of Land at the end of last month. In contrast, KRC argues that Seoul City treated the significant safety defect as merely internal documentation rather than a formal report. KRC stated, "The monthly construction management reports submitted by Seoul City are extensive, often running into thousands of pages, making it difficult to immediately recognize the missing rebar issue, which was only included in a portion of the construction management log." There are concerns within the industry that a more direct and clear reporting system should have been in place for such a critical defect in national railway infrastructure. Relying solely on the submission of management reports may have hindered relevant agencies from immediately grasping the severity of the issue. Seoul City maintains that there were no procedural issues, with a city official stating, "A review by structural engineers confirmed that there are currently no issues with structural safety," and that they finalized and shared the reinforcement plan after a comprehensive review of safety and construction feasibility. However, voices within KRC and beyond have raised concerns that given the significant defect in a key national railway project, more proactive external communication and separate reporting should have been necessary. The ongoing dispute over accountability suggests that the reporting system at the time was not functioning effectively. The responsibility of Hyundai Engineering & Construction is also under scrutiny. The Citizens' Coalition for Economic Justice issued a statement asserting that both the contractor and the inspection team bear significant responsibility, calling for a review of structural subcontracting practices and the avoidance of direct construction issues in large projects. Hyundai Engineering & Construction has proposed a reinforcement method that involves wrapping the deficient column exteriors with thick steel plates and welding them. Seoul City believes this method will ensure strength beyond design standards, but the Ministry of Land has stated it will not allow the resumption of reinforcement work until verification by an accredited institution is completed.* This article has been translated by AI. 2026-05-19 17:33:00

Cosmax to Source 40% of Domestic Factory Power from Renewable Energy Cosmax, a leading cosmetics manufacturer, has partnered with Hanwha Solutions Q CELLS to secure eco-friendly power in pursuit of its goal of achieving carbon neutrality by 2050. On May 19, Cosmax announced that it signed a Power Purchase Agreement (PPA) with Hanwha Q CELLS on May 18. The direct PPA allows power users to trade electricity directly with renewable energy producers, providing companies with a stable foundation for achieving carbon neutrality and RE100 (100% renewable energy usage) through long-term contracts. Under this agreement, Cosmax will receive approximately 10.4 GWh of renewable energy annually for its four key production sites in Hwaseong and Pyeongtaek starting in July, pending final approval from its Environmental, Social, and Governance (ESG) committee. This initiative will enable Cosmax to meet about 40% of its total electricity consumption at domestic factories with renewable energy, significantly contributing to the production of K-beauty products powered by eco-friendly energy. Cosmax aims to enhance its manufacturing competitiveness through this PPA, transitioning to a more sustainable framework while actively responding to the stringent carbon management and ESG standards of global clients. In addition to external power procurement, the company is also expanding its own generation facilities. Currently, it operates solar power generation systems at 12 sites worldwide, including six in South Korea and six abroad. Recently, with the expansion of its Pyeongtaek Plant No. 1, Cosmax is adding a solar power generation facility with a capacity of 499.2 kW, utilizing rooftop space. This facility is expected to be operational by the fourth quarter of 2026 and will produce approximately 638 MWh of renewable energy annually. Furthermore, Cosmax is accelerating the establishment of a Life Cycle Assessment (LCA) system, which quantifies resource and energy use and emissions throughout the entire product life cycle, from raw material procurement to production, distribution, use, and disposal. This system is a key management foundation supporting compliance with global regulations and the achievement of carbon neutrality goals. Last year, Cosmax completed its Product Carbon Footprint (PCF) calculation process and plans to finalize the LCA system covering the entire product life cycle this year. Through these efforts, Cosmax aims to strengthen its capabilities in renewable energy transition and product-level environmental impact management, enhancing its climate change response system to meet global market demands. Cosmax received an integrated A rating in the ESG evaluation from the Korea ESG Standards Institute last year. The company has established a roadmap for carbon neutrality by 2050, focusing on expanding solar power facilities and enhancing its PCF management system. A Cosmax representative stated, "We will continue to expand renewable energy, innovate energy efficiency, enhance our product environmental impact management system, and strengthen supply chain responsiveness to establish ourselves as a trusted partner in the global market."* This article has been translated by AI. 2026-05-19 17:30:00

IBM Launches Second Quantum Revolution with Hybrid Quantum Computing "We are currently in the era of the 'Second Quantum Revolution.' Quantum computing is already being utilized in various industries, including life sciences and drug development," said Petra Florijune, IBM's Global Quantum Sales Director, during the 'IBM Asia-Pacific Quantum Connect' media briefing held at the Conrad Hotel in Yeouido, Seoul. IBM emphasized that quantum computing has progressed beyond research and experimental stages and is now being applied in real-world industrial settings. The company aims to enhance the applicability for businesses through a hybrid approach that combines traditional central processing units (CPUs), graphics processing units (GPUs), and quantum processing units (QPUs). At the event, IBM presented the latest advancements in global quantum technology and its applications across various industries. Florijune and Dr. Baek Han-hee, IBM's Quantum Director, discussed the current state of quantum computing, industry use cases, and future commercialization roadmaps. Florijune characterized the present as the 'Second Quantum Revolution.' He stated, "Following the first quantum revolution that enabled technologies such as semiconductors, lasers, and MRI, quantum computing has now entered a new phase that innovates areas difficult to solve with classical computing." He added, "Quantum computing is no longer a distant future technology; it is now being utilized to solve real problems. We are moving from an experimental phase to a stage where businesses and research institutions apply 'quantum utility' in their actual workflows." Florijune also highlighted the rapidly increasing economic value of the quantum computing market. According to IBM, the Boston Consulting Group estimates the potential economic value of quantum computing to exceed $850 billion. IBM emphasized the importance of a 'hybrid approach' to enable practical applications of quantum computing. Dr. Baek stated, "It is crucial that quantum computers do not completely replace CPUs or GPUs but rather combine the strengths of each technology." To this end, IBM is conducting research to integrate its quantum systems with Japan's RIKEN supercomputer Fugaku and the University of Tokyo's GPU-based supercomputer Miyabi. The briefing also highlighted industry application cases. In the life sciences sector, a collaboration between the Cleveland Clinic and RIKEN expanded molecular simulations from eight atoms to over 12,000 atoms by 2024. Florijune remarked, "This case is just the beginning and is developing rapidly." In finance, HSBC has implemented quantum computing for bond issuance predictions and trading optimization, achieving a 34% improvement in prediction accuracy. In materials and logistics, Boeing is conducting molecular simulations for new materials to address aircraft corrosion issues. Additionally, they are developing algorithms to optimize delivery routes for thousands of ships and vehicles. IBM reported a cumulative contract amount of approximately $1 billion in its quantum computing business last year. The company outlined its roadmap for the commercialization of quantum computing technology. IBM aims to demonstrate 'quantum advantage' in terms of cost and accuracy compared to classical computers within this year. By 2029, it plans to introduce fault-tolerant quantum computing (FTQC). IBM also emphasized its strategy for expanding the ecosystem. Florijune noted, "Currently, over 300 partners, including large corporations, startups, universities, and research institutions, are participating in the IBM Quantum Network. IBM's open-source development kit, Qiskit, has become a platform widely used by global quantum developers." Dr. Baek stated, "If the quantum ecosystem in the Korean market expands, we will continue to provide ongoing support and collaboration, including additional system implementations." Florijune concluded, "Quantum computing is a technology that requires a long preparation time. We must start practicing now to complete the marathon of the future."* This article has been translated by AI. 2026-05-19 17:27:00

KB Kookmin Bank Launches Trust Service for Senior Residence Deposits KB Kookmin Bank announced on May 19 that it has launched a trust service for managing deposits of customers residing in senior residences. This service was developed in collaboration with KB Life's subsidiary, KB Golden Life Care, to address the concerns of an increasing number of senior residence customers. It is designed to securely protect large entrance deposits while allowing for the stable transfer of assets to designated beneficiaries without the complexities of inheritance procedures.The service is available to customers with entrance deposits at domestic senior residences, and consultations for enrollment can be conducted at KB Kookmin Bank branches.KB Kookmin Bank has lowered the minimum enrollment amount to 10 million won, proactively working to democratize trust services that have traditionally been seen as exclusive to high-net-worth individuals. The bank aims to expand its offerings for senior customers across various sectors and establish a leading position in the market.A representative from KB Kookmin Bank stated, “This service was launched based on the concerns expressed by senior customers we heard directly in the field. In the future, KB Kookmin Bank will continue to introduce proactive and differentiated financial solutions that enhance the quality of life for senior customers in preparation for an aging society.”* This article has been translated by AI. 2026-05-19 17:24:17