Hanwha Investment Securities Raises Korean Re's Target Price Following Record Performance Hanwha Investment Securities announced on May 18 that Korean Re achieved its highest-ever performance due to the absence of major claims and improved investment results. The firm raised its target price from 12,500 won to 19,000 won and upgraded its investment recommendation to "buy." Kim Do-ha, a researcher at Hanwha Investment Securities, stated, "In the first quarter, net profit reached 209.5 billion won, a 131% increase compared to the same period last year, marking the highest level ever recorded." He noted that unlike the previous year, which saw significant incidents such as the earthquake in Myanmar, wildfires in Los Angeles, and fires in the Yeongnam region, this quarter did not have any noteworthy major claims. He added, "The profit from the Premium Allocation Approach (PAA) reached an all-time high, driving an earnings surprise, and both incurred insurance claims and adjustments to claim factors showed positive trends. The effects of the profitability-focused portfolio adjustments that have been ongoing for several years are also becoming evident." Kim further explained, "Investment income also rose by 136% year-on-year due to improved stock management results, with stock returns showing a strong performance nearing annual levels alongside an increase in managed assets." He projected, "With the upgraded credit rating and improved profitability, it will be possible to expand volumes starting in 2027. Considering the complete retirement of treasury shares and the continuation of a high dividend policy, the attractiveness of shareholder returns is expected to increase."* This article has been translated by AI. 2026-05-18 08:21:29

KOSPI Attempts Recovery Amid U.S. Interest Rates and NVIDIA Earnings Concerns Following a sharp decline in U.S. stock markets and a significant drop in the KOSPI, attention turns to whether the domestic market can attempt a rebound this week. External factors such as rising long-term U.S. interest rates, geopolitical risks from the Middle East, and concerns over NVIDIA's earnings are expected to increase market volatility. On May 18, the Korea Exchange reported that the KOSPI closed at 7493.18, down 488.23 points (-6.12%) from the previous trading day. The index briefly surpassed 8000 during the session but experienced significant fluctuations as profit-taking emerged. This week, the KOSPI is expected to continue its high volatility as it reacts to U.S. interest rate trends, comments from Federal Reserve officials, and NVIDIA's earnings report. Kiwoom Securities has projected a weekly KOSPI range of 7150 to 7700. Analysts are also considering the possibility of a technical rebound following the recent sharp decline. The KOSPI's drop of over 6% last Friday has led to perceptions that the recent losses were excessive. The rapid rise of major global stock markets, driven by an AI rally, is also seen as a factor for correction. From the beginning of this month until May 14, the KOSPI surged 21.0%, while the Nasdaq rose 7.0% and Japan's Nikkei 225 increased by 5.7%. The biggest focus this week will be NVIDIA's earnings. The company is set to release its first-quarter results on May 21 at approximately 5 a.m. Korean time. Market participants are keenly watching how NVIDIA's revenue and profitability will compare to expectations. The current market consensus anticipates revenue of $78 billion and a gross profit margin (GPM) of 75.0%. Key variables include demand for the Blackwell (B200) and the production schedule for the next-generation Rubin (R100), as well as the impact of sales to China. These factors are directly linked to the earnings outlook for domestic semiconductor companies like Samsung Electronics and SK Hynix. Analysts believe that if NVIDIA exceeds market expectations with its earnings and guidance, it could reverse the recent negative sentiment in global markets affected by concerns over interest rates and inflation. Additionally, this week will see comments from key Federal Reserve officials, the release of the April FOMC minutes, U.S. May inflation expectations data, and Japan's April Consumer Price Index (CPI), all of which are likely to heighten market sensitivity to macroeconomic events. In South Korea, the planned strike by Samsung Electronics' labor union on May 21 is also seen as a potential variable. If negotiations fail, the possibility of an actual strike and the government's consideration of emergency mediation could impact investor sentiment in the domestic market. Han Ji-young, an analyst at Kiwoom Securities, stated, "While we may see a technical buying trend due to perceptions of excessive short-term losses early this week, macroeconomic uncertainties are likely to persist." Meanwhile, as of 8:09 a.m., major large-cap stocks are showing weakness in pre-market trading. Samsung Electronics is trading down 0.55% at 269,000 won, while SK Hynix (-1.65%), Hyundai Motor (-1.71%), and Kia (-1.31%) are also experiencing declines. Stocks related to shipbuilding and nuclear power, which had recently seen significant gains, are also facing notable declines. HD Hyundai Heavy Industries is down 3.44%, and Doosan Enerbility has dropped 3.34%. SK Square is also down 3.10%. Additionally, most of the top market capitalization stocks, including LG Energy Solution (-1.68%), Samsung Electro-Mechanics (-0.89%), and Samsung Biologics (-0.35%), are showing downward trends.* This article has been translated by AI. 2026-05-18 08:18:33

Google's Developer Conference Set to Unveil New Gemini Model and Agent Platform Google's annual developer conference is set to take place, with the AI industry closely watching for updates on the new Gemini model and agent platform strategy. OpenAI confirmed the mobile expansion of Codex, while Microsoft’s AI chief issued a stark warning about white-collar automation. According to the IT industry, Google I/O 2026 will kick off on May 19-20 (local time) at the Shoreline Amphitheater in Mountain View, California. The two-day event will feature updates on Gemini, Android, Chrome, and Google XR glasses, along with keynote speeches, demonstrations, and developer sessions. New Gemini Model 'Spark' Agent to Be Revealed The biggest focus in the industry is the new Gemini model. This upcoming model aims to reach the level of OpenAI's latest GPT-5.5, although it is expected to be a gradual upgrade that may not match the leading-edge systems in the market. Google's last major model, Gemini 3, was released in November 2025 and briefly topped benchmarks. A new agent platform is also expected to be unveiled. Google is adding advanced agent capabilities to the Gemini app, branding it as 'Gemini Spark.' This feature, previously known as 'Gemini Agent,' allows AI to proactively manage tasks across apps and services without user prompts. Android XR smart glasses are also anticipated to be a key announcement at this year's I/O. Google is developing two types of AI glasses in collaboration with Samsung, Gentle Monster, and Warby Parker: one without a display and another with an in-lens display, both based on the Android XR operating system. OpenAI Integrates Codex into Mobile App with 4 Million Weekly Users OpenAI integrated its coding agent Codex into the ChatGPT mobile app the previous day. Users can now directly coordinate coding tasks from their smartphones, with weekly active users of Codex surpassing 4 million. This move aligns with OpenAI's efforts to consolidate ChatGPT, Codex, and the Atlas browser into a single desktop super app, responding to competition from Anthropic in the enterprise and developer markets. Microsoft AI Chief Warns of White-Collar Automation in 12-18 Months Mustafa Suleyman, Microsoft AI's CEO, issued a strong warning in an interview with the Financial Times. He stated that most white-collar jobs, including those of lawyers, accountants, project managers, and marketers, will be fully automated by AI within the next 12 to 18 months. Suleyman defined Microsoft AI's core goal as achieving 'superintelligence' and emphasized the company's focus on reducing reliance on OpenAI while developing its own foundational models.* This article has been translated by AI. 2026-05-18 08:15:51

India Day Celebrated at Yeouido Hangang Park with Dance and Cuisine On May 16, under a clear blue sky and the bright sun of early summer, the aroma of rich curry, tandoori chicken, and masala wafted through Yeouido Hangang Park. Families gathered under the shade of trees, sharing spiced dishes while enjoying leisurely conversations. The park transformed into a vibrant 'Mini India' for the first India Day festival, with attendees dressed in colorful saris and lively music filling the air. Organized by the Indian Embassy and the Indian Cultural Center in Korea, this large outdoor festival is not just a one-time event. It is a tangible outcome of the agreement made during President Lee Jae-myung's state visit to India last month, aimed at enhancing cultural exchanges between the two nations. The event showcased the ongoing efforts of both countries to strengthen their special strategic partnership through cultural dialogue. The event attracted over 1,500 visitors from diverse backgrounds, showcasing the 'Unity in Diversity' of India's 28 states and 8 union territories. Attendees marveled at marble crafts from Rajasthan, watched artisans weave pashmina shawls from Kashmir, and explored local specialties. The Indian Coffee Board presented five varieties of GI-certified Arabica coffee, while the Marine Products Export Development Authority (MPEDA) showcased a variety of agricultural and seafood products, tantalizing the taste buds of festival-goers. Long lines formed at food trucks as attendees eagerly awaited to sample street foods from different regions. Cultural exchange proved to be a powerful force that transcends borders and language barriers. Park Nam-seok, 40, from Gangseo-gu, attended the festival with his family after being invited by his son’s Indian friend, Swapran. “I didn’t have high expectations for the first year, but it’s larger and more organized than I thought. It’s a great festival for kids,” he said, smiling. “I tried Indian food for the first time, and it’s really delicious.” Naina, 38, originally from Bengaluru and now living in Korea, brought her American friends along. “I wanted them to experience Indian dance and food firsthand,” she said. “I’m proud to showcase India’s rich culture and cuisine, and seeing my foreign friends enjoy it makes this first event a great success.” As the afternoon heat intensified, Indian Ambassador to Korea Gaurang Lal Das delivered a speech that resonated with the attendees. He remarked, “Like the Ganges River, which has witnessed thousands of years of civilization, today, two great stories meet at the Han River, which has seen Korea’s recovery and transformation.” He declared that Yeouido Hangang Park had transformed into 'Han Ganga Park' for the day. He emphasized the power of culture to unite people in ways that politics cannot, clearly articulating the Korean phrase “We understand each other.” Kwak Young-gil, chairman of Aju News Corporation, followed with a forward-looking vision, stating, “India is one of the world’s oldest civilizations and a dynamic nation leading the AI era. Now, our two countries are opening a new era of cooperation beyond culture, into AI, semiconductors, content, and youth exchanges.” The vision of 'youth exchange' was further highlighted during the awards ceremony for the 'Korea-India Cultural Innovation Contest' (essay and video). Ambassador Das personally awarded the grand prize in the AI video category to Kim Dong-hee. The essay category winner, Sonali Ray, who submitted 'One Frame, Two Worlds,' was represented on stage by Deputy Ambassador Nishi Kant Singh, while Im Kyu-jin, president of Aju News Corporation, presented the award with a bright smile. The elegant performances by the Odissi dance troupe, the RAAS Dance Company, and K-pop group Blackswan drew the loudest cheers from the audience as the sun began to set over the Han River. However, the true finale of the festival began just after sunset. As DJ Paresh Mundade's upbeat beats filled the air, over a hundred participants of different nationalities, ages, and languages eagerly left their mats to join a massive dance party under the fading light. Koreans, Indians, and attendees from around the world danced joyfully together. As Ambassador Das noted, music needs no translation, and smiles exchanged between people require no interpretation. The evening of May 16, with the flowing waters of the Han and the exotic aroma of curry, perfectly blended with the lively Bollywood beats, created a world where hearts truly connected.* This article has been translated by AI. 2026-05-18 08:08:38

Trump Associates Warn of Potential Chinese Invasion of Taiwan Within Five Years Donald Trump's recent visit to China has heightened concerns within the U.S. administration regarding the risks associated with Taiwan. While the atmosphere of the summit appeared friendly, some of Trump's associates believe that China may consider invading Taiwan within the next five years. According to Axios on May 17, some of Trump's close aides view the most significant outcome of the U.S.-China summit as an increased risk of a Chinese invasion of Taiwan. They also expressed concerns that such an action could disrupt the semiconductor supply chain critical for the artificial intelligence (AI) industry. During his visit to Beijing, Trump reportedly felt satisfied with the ceremonial treatment he received. However, his associates noted the messages conveyed by China during the trip. One aide told Axios that Xi Jinping's attitude suggested, "China is no longer an emerging power but an equal to the United States, and it is trying to establish a new position that Taiwan belongs to China." The aide assessed that the visit signaled a significantly increased likelihood of the Taiwan issue coming to the forefront within the next five years. He added, "The U.S. economy is not prepared for this, and the semiconductor supply chain is far from self-sufficient." The Taiwan issue is also directly linked to the AI competition. Taiwan is a key hub for advanced semiconductor production. If China were to pressure Taiwan or take military action, U.S. companies could face disruptions in the supply of chips necessary for AI operations. The aide emphasized, "There is no more urgent issue for CEOs and the economy as a whole than the semiconductor supply chain." Taiwan has also expressed its vigilance. President Tsai Ing-wen recently stated, "Taiwan will not be sacrificed or used as a bargaining chip," asserting that the future of Taiwan should be determined by its people. He also emphasized that U.S. arms sales to Taiwan are a commitment under the Taiwan Relations Act.* This article has been translated by AI. 2026-05-18 08:04:41

Top 10 Securities Firms Report Combined Q1 Profit of 4.3 Trillion Won ◆Ajou Economic Major News ▷Top 10 securities firms narrow profit gap with five major banks to just 1.1 trillion won - Riding the wave of a booming stock market, securities firms have seen a surge in profits, closing the gap with banks and aiming for a position as the "absolute financial powerhouse." - The combined net profit of South Korea's top 10 securities firms (based on equity capital) for the first quarter is 4.33 trillion won. - This marks an increase of 2.30 trillion won (113.65%) compared to 2.07 trillion won during the same period last year. - The combined net profit of the five major banks for the first quarter of this year is 4.44 trillion won, leaving a difference of about 1.1 trillion won. - Notably, the top two firms in the securities industry, Mirae Asset Securities and Korea Investment & Securities, outperformed NH Nonghyup Bank (5.577 trillion won) and Woori Bank (5.312 trillion won). - The increase in brokerage revenue due to rising trading volumes and improved investor sentiment has been a key factor in this performance improvement. ◆Major Reports ▷- Even without assuming a re-rating of the price-to-earnings ratio, if current profit estimates materialize, the KOSPI could enter the 10,000-point era. - The projected net profit for the KOSPI in 2026 is 689 trillion won, increasing to 853 trillion won by 2027. - Since 2010, the average price-to-earnings ratio for the KOSPI has been 9.96 times, meaning if the index reflects the 2027 net profit by the end of 2026, the KOSPI market capitalization could reach 8,499 trillion won (853 trillion won * 9.96 times). - This translates to an index value of 10,380 points (previously projected upper limit of 8,470 points). - If the capital expenditure growth rate in the S&P 500 tech sector falls below the WTI price increase rate, or if semiconductor profit estimates for the KOSPI are revised downward, the current index rise based on profit growth may come to an end. - Given the price surge due to war, the current level of oil prices is more likely a short-term overshoot than a long-term upward trend. - The increasing concentration around Samsung Electronics and SK Hynix, which account for 48% of the KOSPI market capitalization, could also be a concern. - However, the end of the tech bubble in 2000 showed that stock price overheating led to changes in the top market capitalization company, regardless of profit size. - On March 27-28, 2000, Cisco Systems, which held the top market cap in the S&P 500, had annual net profits that were only 20% of GE's and 28% of Microsoft's. - Another signal for the end of the current bull market based on profit growth would be if SK Hynix's market capitalization surpasses that of Samsung Electronics. ◆Major Disclosures After Market Close (15th) ▷HS Hynix Advanced Materials decides on a 29.6 billion won debt guarantee for its affiliate. ▷Dong Sung Pharmaceutical receives notice of completion of rehabilitation proceedings as of the 15th. ▷Jeong Ji-hye, Executive Director of Hyundai Mobis, acquires an additional 8,000 shares of Hyundai Elevator common stock. ▷Jahwa Electronics exercises exchange rights for 222,420 shares (worth 7.8 billion won) of exchangeable bonds. ▷Gwangmyeong Electric is sued for a provisional injunction allowing the exercise of voting rights by its largest shareholder. ◆Fund Trends (as of the 14th, excluding ETFs) ▷Domestic equity funds: +48 billion won ▷Overseas equity funds: -53.8 billion won ◆Key Schedule for Today (18th) ▷China: April housing price index, April real economy indicators (consumption, production, investment) ▷United States: May NAHB housing market index* This article has been translated by AI. 2026-05-18 08:01:45

Park Chan-wook Receives France's Highest Cultural Honor, Aims to Film in France Park Chan-wook has been awarded the Commander of the Order of Arts and Letters, the highest cultural honor from the French government.According to reports from Reuters and Yonhap News, French Minister of Culture Rima Abdul Malak presented the award to Park on May 17 in Cannes, where he was serving as the jury president for the 79th Cannes Film Festival.The Order of Arts and Letters is awarded to individuals who have made significant contributions to the arts and literature or have enhanced the international stature of French culture. It has three grades: Chevalier, Officier, and Commander, with Commander being the highest.Park is the fourth South Korean recipient of the Commander honor, following Kim Jong-ok in 2002, conductor Myung-whun Chung in 2011, and soprano Sumi Jo last year.After receiving the award, Park expressed that French cinema and philosophy have greatly influenced his work. He stated, "I felt that all the influences I received from France have come together in me."He reminisced about winning the Jury Prize at the Cannes Film Festival in 2004 for his film 'Oldboy,' calling it a significant turning point that completely changed his life. He noted that his connection with Cannes has continued, leading to his role as jury president this year.Park also shared his desire to film in France, saying, "My last wish is to make a film in France someday, to work with French actors." He expressed gratitude for the honor.Park has a long-standing relationship with the Cannes Film Festival. He won the Jury Prize in 2004 for 'Oldboy,' the Jury Award in 2009 for 'Thirst,' and the Best Director Award in 2022 for 'Decision to Leave.' His film 'The Handmaiden' was invited to compete in 2016, and he served as a jury member in 2017.This year, he became the first South Korean to be appointed as jury president at the Cannes Film Festival. His journey from award winner to jury president, culminating in receiving France's highest cultural honor, highlights the strong ties between Park and the French film industry.* This article has been translated by AI. 2026-05-18 08:00:45

CJ Olive Young Set to Open First U.S. Store in Pasadena CJ Olive Young is on the verge of opening its first U.S. store, with CJ Group Chairman Lee Jae-hyun expected to visit the location. This move underscores the company's emergence as a key subsidiary within the group and highlights Lee's commitment to penetrating the U.S. market. According to industry sources, Lee plans to attend the PGA Tour's "The CJ Cup at Byron Nelson" in Texas on May 21, before visiting the Pasadena store, which is set to open on May 29. The flight from Dallas, where the tournament is held, to the Los Angeles area takes about three hours. This visit coincides with a major group event, allowing Lee to inspect Olive Young's first overseas store personally. The Pasadena store represents more than just a new location for CJ Olive Young. The company plans to open a total of four stores in key Los Angeles areas, including Westfield Century City and Torrance Del Amo Mall, starting with Pasadena. Given that the U.S. is the world's largest beauty market, the initial performance of this store will serve as a critical indicator for the company's expansion in North America. The Pasadena location is situated in a high-traffic area, close to an Apple store and educational institutions like the California Institute of Technology and Pasadena City College. It is also surrounded by global retail and beauty brands such as Abercrombie and Sephora, targeting both local consumers and tourists. Lee's hands-on approach with Olive Young is driven by impressive growth figures. According to CJ's business report, the company's standalone revenue reached 5.8335 trillion won last year, a 21.8% increase from the previous year. Operating profit rose by 22.5% to 744.7 billion won. With annual sales nearing 6 trillion won, Olive Young's contribution to the group's profits has significantly increased. In the first quarter of this year, standalone revenue also grew by 24.5% year-on-year to 1.5372 trillion won, indicating continued expansion. As a result, Lee has been actively managing Olive Young this year. In January, he visited the first wellness store, Olive Better, in Gwanghwamun, Seoul. In March, he inspected the Olive Young Central Myeongdong Town store, reviewing store layout and key products while making personal purchases. CJ Olive Young is also accelerating preparations to establish a foothold in the U.S. market. The company plans to launch a U.S.-exclusive e-commerce platform alongside the opening of its first store, moving away from a solely global mall-based sales model to a structure that integrates local stores and online sales. Additionally, the company has established a logistics base. In March, CJ Olive Young set up a "West Coast Center" in Bloomington, California, covering approximately 3,600 square meters (about 39,000 square feet) to support local distribution for brands entering U.S. stores. The company plans to gradually expand the center in line with increasing shipping volumes and is considering securing additional logistics hubs in the eastern region. A CJ Olive Young representative stated, "With the simultaneous opening of our first U.S. store and the U.S.-exclusive online mall, we can now offer local delivery through the West Coast Center. We aim to enhance shopping convenience for American consumers and contribute to the growth of the K-beauty industry." * This article has been translated by AI. 2026-05-18 07:49:08

Trump Posts AI Video of Striking Iranian Military Aircraft, Intensifying Negotiation Pressure Donald Trump, the President of the United States, has posted an artificial intelligence (AI) generated video depicting the destruction of an Iranian military aircraft. This post comes on the same day he warned Iran that "time is running out," suggesting an escalation in military pressure amid stalled peace negotiations. On May 17, Trump shared a 5-second video on his social media platform, Truth Social. The video shows a U.S. warship firing a high-powered laser at an Iranian military aircraft bearing the Iranian flag. In the video, Trump can be heard saying, "Okay. It's coming our way," followed by, "Fire. Boom." He also posted a larger version of the same video along with similar content. While the video is not based on actual military operations, the fact that a sitting U.S. president has shared a depiction of U.S. forces shooting down an adversary's aircraft makes it more than just an ordinary online post. It visually conveys a warning that military action could be intensified if Iran does not comply with U.S. demands. On the same day, Trump issued a direct warning to Iran on Truth Social, stating, "Time is running out. They need to move quickly. Otherwise, they will have nothing left." He emphasized that "time is of the essence," indicating that Iran could face stronger pressure if it does not respond promptly to U.S. proposals for peace. Trump has publicly rejected a recent peace proposal from Iran. Reports suggest that additional military options against Iran are being considered within the United States. According to Reuters, Trump is scheduled to hold a meeting with national security advisors regarding Iran in the White House Situation Room on May 19.* This article has been translated by AI. 2026-05-18 07:45:48

Trump Joins Effort to Defeat Republican Thomas Massie in Costly Primary The primary election for U.S. Representative Thomas Massie's re-election has become the most expensive in House history. This surge in costs is attributed to significant advertising spending by Donald Trump's camp and pro-Israel organizations aimed at defeating Massie. According to Politico, the total advertising expenditure for the Kentucky Republican primary has exceeded $32 million, marking the highest amount ever recorded for a House primary, according to ad tracking firm AdImpact. Pro-Israel groups, including the American Israel Public Affairs Committee (AIPAC), have invested over $9 million in efforts to unseat Massie. Additionally, a super PAC associated with Trump has spent approximately $7 million. Trump's involvement has been a key factor in escalating the stakes of the primary. He has endorsed former Navy SEAL Ed Gallein as Massie's challenger. Politico reported that Trump's intervention has disrupted the stable re-election landscape for Massie, who had held his seat for over a decade, prompting pro-Israel factions to ramp up their spending. Massie is known for his non-interventionist and libertarian views within the Republican Party. He has repeatedly opposed military support for Israel and pro-Israel resolutions, making him a target for pro-Israel groups. Massie has argued that his opposition to foreign aid is not aimed solely at Israel. Pro-Israel organizations are directly targeting Massie. The Republican Jewish Coalition's Victory Fund has aired six attack ads against him, spending over $4 million. AIPAC's super PAC, the United Democracy Project, has also invested around $5 million to highlight Massie's opposition to pro-Israel resolutions. This primary has transcended a simple district contest, emerging as a litmus test for the political costs of criticizing Israel within the GOP. This comes amid a growing trend among younger Republican supporters to adopt a more critical stance toward Israel following conflicts in Gaza and Iran. In response, Massie has pushed back, asserting that he is neither anti-Semitic nor anti-Israel. He emphasized that criticism of the Netanyahu government's policies should not be equated with anti-Semitism. As the election nears, AIPAC has proposed legislation requiring registration under the Foreign Agents Registration Act (FARA). The race is tight. A Quinteros Insights poll shows Gallein leading Massie by 8 percentage points, while a Big Data Poll indicates Massie ahead by 1 percentage point. Trump's support and external funding have elevated Gallein as a formidable challenger in this federal election. However, Massie remains a well-established incumbent with a solid local base. His libertarian leanings align with the political inclinations of Kentucky's 4th district. Whether Trump's backing and the substantial advertising campaign from pro-Israel groups can actually unseat the incumbent is a critical factor in this primary.* This article has been translated by AI. 2026-05-18 07:33:56