KOSPI tumbles 3.3% as chip-cycle peak fears trigger foreign selloff SEOUL, May 19 (AJP) - South Korean benchmark KOSPI tumbled 3.3 percent Tuesday as foreign investors offloaded shares amid growing concerns that the global memory-chip cycle is nearing its peak. Foreign investors drove the decline on the main bourse, selling 5.34 trillion won ($3.55 billion) worth of shares to outweigh combined purchases by retail and institutional investors. The selloff heavily impacted semiconductor and artificial intelligence-related stocks following an overnight slump in U.S. tech shares. The index ended at 7,271.70, dropping from an intraday high of 7,446.57 to a low of 7,141.91. Large-cap semiconductor stocks dragged the market lower, with industry leader Samsung Electronics falling 2.0 percent to 275,500 won and SK hynix dropping 5.2 percent to 1,745,000 won. Automakers and technology-related shares suffered steep losses alongside chipmakers. Hyundai Motor plunged 8.9 percent to 604,000 won, LG Electronics tumbled 11.7 percent to 191,700 won, and Hanmi Semiconductor lost 9.2 percent to 288,000 won. Mirae Asset Securities also declined 5.8 percent to 66,400 won. Moving against the broader market trend, Korea Electric Power Corp. rose 4.0 percent to 39,150 won. The gain followed expectations that the government will accelerate a high-voltage direct current transmission project on the west coast to expand renewable-energy capacity and strengthen grid stability. LG Innotek climbed 4.3 percent to 793,000 won after NH Investment & Securities raised its target price from 700,000 won to 1 million won. The brokerage cited spillover effects from package substrate shortages and stronger-than-expected benefits from camera specification upgrades for major clients. The tech-heavy KOSDAQ index fell 2.4 percent to close at 1,084.10, pressured by a selloff in growth stocks. Retail investors bought 107.1 billion won on the junior board, while foreign and institutional investors sold 12.3 billion won and 55.8 billion won, respectively. KOSDAQ-listed Doosan Robotics sank 15.1 percent to 100,100 won, and Taihan Fiber Optics fell 6.7 percent to 21,550 won. Conversely, I-ROBOTICS jumped 7.4 percent to 4,295 won after reporting a return to profitability with a first-quarter net profit of 450 million won, driven by stronger overseas orders and a 20.1 percent rise in sales. The decline in Seoul followed a mixed session on Wall Street, where the Dow Jones Industrial Average rose 0.3 percent to 49,686.12, while the Nasdaq Composite fell 0.5 percent to 26,090.73. Across Asia, Japan's Nikkei 225 fell 0.6 percent, while China's Shanghai Composite rose 0.5 percent and Hong Kong's Hang Seng Index gained 0.4 percent. Oil prices retreated from recent highs as West Texas Intermediate crude fell 1.3 percent to $103 a barrel and Brent crude declined 2.1 percent to $109.80. The pullback occurred after U.S. President Donald Trump said he had paused a planned military strike on Iran at the request of Gulf allies, prompting hopes for renewed negotiations. The South Korean won weakened against the U.S. dollar. The local currency closed at 1,506.10 won per dollar, down 1.0 percent from the previous session. 2026-05-19 16:09:44

Hancom Transitions to Sovereign Agentic OS, Phasing Out Legacy Brand Hancom, a pioneering software company, has announced the retirement of its 36-year-old brand "Hangul and Computer" and its identity as a traditional office software provider. The company is transitioning to become a Sovereign Agentic Operating System (OS) firm based on artificial intelligence (AI). On May 19, Hancom held a strategy presentation titled "Hancom: The Shift" at the Fairmont Hotel in Yeouido, Seoul, where it unveiled its AI business achievements and new corporate vision. Kim Yeon-soo, CEO of Hancom, stated, "As of today, Hancom is officially transitioning to a Sovereign Agentic OS company. We have demonstrated our shift to an AI company through our results, and now we will take it a step further." The company has changed its name from "Hangul and Computer" to "Hancom" to reflect its expanded business scope, which now includes data, AI agents, and global markets. The previous name no longer encapsulates the current vision. Hancom will cease the release of traditional software packages with the launch of "Hancom Office 2024." Instead, it plans to shift to a platform structure that updates AI features in real time. Kim emphasized, "We cannot keep pace with the speed of AI evolution through annual product releases. Hancom's core business is not document tool manufacturing but AI technology development." The Sovereign Agentic OS is an AI operating platform that integrates and controls internal company data, external AI models, and existing work systems within a single environment. This approach aims to respond to market changes that emphasize the evolution of AI agents capable of performing tasks autonomously and the importance of data sovereignty and security. For the first time, Hancom also disclosed its AI business performance. Last year, its standalone revenue reached 175.3 billion won, a 10.2% increase from the previous year, marking its highest performance to date. Of the total revenue increase of 16.2 billion won, approximately 8.9 billion won, or 54.6%, came from the AI package business. This year, the share of AI business is expanding even more rapidly. In the first quarter, AI revenue reached 5.2 billion won, accounting for 11.2% of total revenue. Hancom stated, "We are already a company generating profits from AI." Hancom has established a customer base of approximately 200,000 organizations, including 14,000 public and government agencies, 40,000 educational institutions, and 140,000 private companies, which it views as a key asset for expanding its AI business. Among its B2B customers, the adoption rate of AI packages was 4.2% in the first quarter of this year. The company believes this customer base will also serve as a strength in the emerging Agentic OS market. Since existing customers have already entrusted sensitive document data and work environments to Hancom's platform, the new AI agent services are expected to be quickly adopted. Hancom is also targeting the European market, focusing on data sovereignty regulations such as the General Data Protection Regulation (GDPR) and the EU AI Act. The company plans to expand collaborations with local IT and public sector firms in Europe.* This article has been translated by AI. 2026-05-19 16:06:56

National Growth Fund to Launch on May 22, No Principal Guarantee and Five-Year Lock-In The National Participation Growth Fund will be launched on May 22, with a total size of 6 trillion won. Sales may close early if the funds are exhausted. On May 19, the Financial Services Commission provided key information regarding the National Participation Growth Fund. The fund aims to raise 6 trillion won from the general public and will be available for purchase on a first-come, first-served basis through major banks and securities firms from May 22 to June 11. However, this is not a savings product where money is deposited monthly; instead, investors must pay the entire investment amount upfront and cannot redeem it for five years. As it does not guarantee the principal, potential investors should thoroughly understand the product's structure and risks before subscribing. Here are some key questions and answers regarding the National Participation Growth Fund: - When will it be available for purchase? "Sales will begin on May 22 and continue until June 11 for a total of three weeks. The total sales amount is 6 trillion won, and since it is first-come, first-served, sales may close early if the funds are exhausted." - Is there a separate allocation for low-income individuals? "Yes, 1.2 trillion won, or 20% of the total sales, is reserved for low-income individuals. This allocation will be available during the first two weeks, from May 22 to June 4. Any remaining low-income allocation not sold during this period will be available to the general public in the third week." - Can only low-income individuals subscribe during the first two weeks? "No, the entire allocation, including the low-income portion, will be available for purchase from the start. However, the 1.2 trillion won for low-income individuals will be managed separately." - What is the income threshold for low-income status? "The threshold is an annual earned income of 50 million won or less. If there are other sources of income, the total income must be 38 million won or less. This is consistent with the requirements for the low-income personal comprehensive asset management account, or ISA." - Where can individuals subscribe? "Subscriptions can be made at 10 banks and 15 securities firms. The banks include Kookmin, KB, Nonghyup, Shinhan, IM Bank, Woori, Hana, Gyeongnam, Gwangju, and Busan banks. The securities firms include KB, NH, Daishin, Meritz, Mirae Asset, Samsung, Shin Young, Shinhan Investment, IM, Woori Investment, Yuanta, Hana, Korea Investment, Hanwha Investment, and Kiwoom Securities, which offers online-only subscriptions." - What is the subscription limit? "The annual subscription limit per person is 100 million won. Under the Tax Benefits Restriction Act, a dedicated account can hold up to 200 million won over five years. For a general account, the limit is 30 million won per person. The minimum subscription amount varies by sales firm, ranging from 100,000 won to 1 million won." - What documents are needed to subscribe? "To receive tax benefits, a certificate of income verification for ISA subscription is required. This document can be obtained from the National Tax Service's Hometax, Government24, or local tax offices. The Financial Services Commission advises obtaining this document in advance for quick subscription after the product launch. If subscribing through a general account without tax benefits, no income verification certificate is needed." - Is it possible to invest a fixed amount monthly? "No, the National Participation Growth Fund is not a savings-type product. Investors must pay the entire investment amount in one lump sum at the time of subscription. Additionally, redemption is not possible for five years." - Is the principal guaranteed? "No, it is not guaranteed. The Financial Services Commission describes this product as a high-risk investment that does not guarantee the principal, classified as a first-grade product. Investors must be assessed as having a suitable investment profile to subscribe." - Does the government compensate for 20% of individual investment losses? "No, the government does not directly compensate for 20% of individual investments. The 6 trillion won in public investment will be managed across 10 sub-funds, with an additional 1.2 trillion won from the government and seed investments from fund managers. In the event of losses, the government and fund managers will absorb losses before the public investment. However, this does not mean that individual investors are guaranteed a 20% loss coverage." - What should investors be most cautious about before subscribing? "Since sales are on a first-come, first-served basis, early closure is possible. To receive tax benefits, income verification documents must be prepared. Most importantly, investors should be aware that the product is a high-risk investment with no redemption for five years and the potential for principal loss."* This article has been translated by AI. 2026-05-19 16:04:40

Samsung C&T Expands Home Platform Services to Pre-Move-In Stage Samsung C&T's construction division is expanding the services of its home platform, HomeNick, to include the pre-move-in stage for apartments. On May 19, Samsung C&T announced a collaboration with interior design firm Hanssem to introduce the "HomeStyle" service for prospective residents. Those moving into new developments where HomeNick is implemented will be able to view 3D interior concepts tailored to their apartment size and can book consultations at showrooms, leading to purchase options. The HomeStyle service will first be applied at the "Banpo Raemian Trinion," which is set to welcome residents in August. Prospective residents can check interior concepts through HomeNick and schedule consultations at Hanssem's flagship store in Nonhyeon or at the Hanssem I-Park Mall in Yongsan. A discount of up to 8% will be offered upon signing a purchase contract. Additionally, Samsung C&T is collaborating with the move-in service platform "Hello Move-In." This partnership allows users to compare and apply for essential services, such as move-in cleaning and partial construction, directly through HomeNick. Hello Move-In boasts 13 million construction experiences and will continue to provide home care services through HomeNick after residents move in. In April, Samsung C&T partnered with AI tax solution company TaxEye to add features to HomeNick, including simulations for acquisition and property taxes, as well as calculations for capital gains and inheritance taxes. The company plans to gradually expand financial asset management services in the future. TaxEye, operated by NewEye, is recognized for its achievements, including winning the Minister of Land, Infrastructure and Transport Award at a real estate startup competition and being selected by various organizations such as the Ministry of SMEs and Startups TIPS program and KDB Industrial Bank. Meanwhile, Samsung C&T aims to develop HomeNick into a comprehensive apartment life care solution that encompasses the contract, move-in, and residency stages.* This article has been translated by AI. 2026-05-19 15:59:44

South Korean elementary school violence rate hits 12.5 percent SEOUL, May 19 (AJP) - One in eight South Korean elementary school students experienced school violence last year, driven by a surge in physical altercations and a collapse in bystander intervention, a survey showed Tuesday. The findings highlight persistent challenges in youth protection just a year after the government overhauled its disciplinary review system. A survey of 8,476 students conducted late last year by the Blue Tree Foundation found 12.5 percent of elementary students reported abuse. This significantly outpaced older groups, with 3.4 percent of middle school students and 1.6 percent of high school students reporting similar harm. The foundation attributed the elementary school spike to younger children struggling to separate rough play from actual harm. While verbal abuse remained the most common form of violence across all grades at 23.8 percent, physical violence jumped from 10.6 percent in 2023 to 17.9 percent, marking its highest share since the current survey series began in 2019. "Elementary students can feel the boundary between physical play, rough-housing, and violence as ambiguous," Kim Mi-jung, head of the foundation's counseling division, said at a press conference. "A child may think it was fine while playing together, but a day later decides it was harmful and reports it." Cyberbullying, which made up 14.5 percent of overall cases, showed a decisive shift toward online gaming. Roughly 40 percent of cyber-violence victims cited gaming platforms as the source, with 95.7 percent of that group stating the abuse crossed back and forth between online and offline environments. Witness intervention deteriorated sharply alongside the rising violence rates. The proportion of students who saw an incident but took no action reached 54.6 percent, more than doubling from 21.5 percent in 2021. Institutional responses also showed strain following the March 2024 launch of a new district-level disciplinary system by the Ministry of Education. The share of victims who reported abuse but saw no resulting action tripled to 33 percent from 2021, even as 70.8 percent of victims stated they primarily wanted an apology from the perpetrator. The foundation called on local election candidates to adopt stronger administrative responses and expanded mental health infrastructure ahead of the June 3 vote. "School violence policy is an important benchmark for student safety and trust in the school system," Lee Jong-ik, the foundation's chief executive, said. 2026-05-19 15:55:56

Uniqlo Returns to Myeongdong, Recovering Sales After Boycott Uniqlo, which left Myeongdong due to the No Japan movement and the impact of COVID-19, is returning to the area after five years. With an increase in foreign tourists and improving Japan-South Korea relations, the company is set to target Myeongdong with its largest store in the country.The "Uniqlo Myeongdong" store will officially open on May 22 in the Myeongdong area of Seoul. The store spans three floors and covers a total area of 3,254.8 square meters, making it the largest in South Korea. It will feature a wide range of products for women, men, kids, and babies. Previously, the Uniqlo store at the Lotte Department Store in the same area closed at the end of last month, making the Myeongdong store the flagship location in Seoul's central business district.On the first floor, a dedicated area for graphic T-shirts, known as the UT (Uniqlo T-shirt) zone, will showcase limited-edition shirts created in collaboration with local businesses like BAF (HBAF) and Eulji Dabang. The store will also feature a pickup locker zone for customers to collect online purchases. A Uniqlo representative explained, "The pickup locker zone allows customers to collect their online orders at the designated store one hour after purchase, enhancing the integration of online and offline shopping." There will be a total of 54 fitting rooms across the first to third floors, with a separate women's fitting room located near the women's innerwear section on the second floor.On the third floor, the store will house the third "ReUniqlo Studio" in the country. This area will include a recycling bin for customers to drop off used clothing, as well as a customization service featuring about 100 embroidery patterns and clothing alteration services. Currently, ReUniqlo Studios are also operating at the Lotte World Mall in Songpa-gu, Seoul, and in Daegu's Dongseongro. Uniqlo's renewed focus on Myeongdong aligns with the area's recovery. The brand experienced a significant drop in sales following the No Japan movement, which emerged during the Japan-South Korea trade dispute in 2019, compounded by the COVID-19 pandemic. Sales plummeted from 1.37 trillion won in 2019 to 629.8 billion won in 2020 and 582.4 billion won in 2021. Consequently, Uniqlo closed its store located near Exit 6 of Myeongdong Station in 2021.However, recent trends indicate a shift. The number of foreign visitors to South Korea is increasing, revitalizing the Myeongdong area, and consumer resistance to Japanese brands has reportedly eased. Uniqlo's sales are also on the rise. FRL Korea, which operates Uniqlo in South Korea, reported sales of 1.35 trillion won last year, a 27.5% increase from the previous year's 1.06 trillion won.In response, Uniqlo plans to leverage the Myeongdong store, which attracts foreign tourists, to continue its growth in the domestic market. Takao Kuwahara, co-CEO of FRL Korea, stated, "We expect to provide all product lines of Uniqlo LifeWear and a differentiated brand experience and customer service to both Korean customers and global visitors, making Myeongdong a new landmark."* This article has been translated by AI. 2026-05-19 15:51:47

MC Mong's TikTok Account Suspended After Celebrity Allegations 가수 MC몽이 소셜미디어(SNS) 계정을 정지당했다고 밝혔다. On May 19, MC Mong announced that his TikTok account was suspended for a week due to "specific expressions" he used. Previously, on May 18, during a live broadcast on his social media, MC Mong claimed that there exists an illegal gambling ring involving celebrities, mentioning Kim Min-jong as one of its members. In response, Kim Min-jong stated through his legal representative, the law firm Okims, that he firmly denies the allegations being discussed. He added, "We will thoroughly verify and clarify the facts regarding this matter, and we will pursue legal action if necessary. I will act cautiously to avoid disappointing those who have supported me for a long time." Kim Min-jong further expressed concern over the unfounded rumors and malicious suspicions surrounding him, stating, "The reputation of an artist who has received great love from the public is being seriously damaged." He concluded, "All claims regarding Kim Min-jong are clearly false. He will confront these issues head-on without any compromise to prove his integrity." Meanwhile, MC Mong co-founded One Hundred with Cha Ga-won, chairman of the Piak Group, in 2023 but left the company in July of the previous year. Since then, allegations have emerged that MC Mong used company funds for illegal gambling.* This article has been translated by AI. 2026-05-19 15:48:55

Jung Won-oh: It's Unwise for the Seoul Mayor to Engage in Political Conflicts Jung Won-oh, the Democratic Party's candidate for Seoul mayor, stated that it is unwise for the mayor, as the head of local government, to be embroiled in political conflicts. Speaking at a discussion hosted by the Broadcasting Journalists Club in Mok-dong, Yangcheon-gu, on May 19, Jung emphasized, "The place for the mayor to stand is not in the midst of political disputes but in the midst of people's livelihoods." He added, "If discussions are heading in a direction that is very different from citizens' opinions or does not align with judicial justice, then it is necessary to voice those opinions on behalf of the citizens." He noted that while discussions are currently stalled, he intends to actively represent citizens' views when they resume. When asked to evaluate the real estate policies of the Lee Jae-myung administration, Jung responded, "I believe we need to reach at least a turning point to make a judgment. It is difficult to assign scores at this time." Jung pointed out that since President Yoon Suk-yeol took office, the housing market has seen a sharp rise in prices due to the reversal of the land transaction permit system by Oh Se-hoon, the candidate from the People Power Party. He noted that while the Lee administration's policies, such as those implemented on June 27 and November 5, had somewhat stabilized housing prices, there has been a recent uptick in market activity. He stressed that the key issue is how consistently the Seoul mayor, the city government, the Ministry of Land, Infrastructure and Transport, and the national government send signals. "If we do not speak with one voice, the market could become unstable, leading to uncontrollable housing price increases," he warned. Regarding his pledge to provide property tax relief for single homeowners without income, Jung stated, "Since it is a relief on the increase, there should not be significant issues in securing funding," explaining that the burden would be shared between the districts and the city of Seoul. On the matter of reducing the long-term holding special deduction and increasing property taxes, he asserted, "It is clear that the current rights of single homeowners must be protected," emphasizing that actions should be taken from the perspective of citizens and within the bounds of common sense. In response to criticisms labeling his urban development plans as 'Park Won-soon’s Urban Regeneration Season 2,' Jung countered, "My approach to urban regeneration balances development and preservation, focusing on creative and citizen-led initiatives." He expressed opposition to superficial urban regeneration efforts that merely involve painting murals, arguing that areas needing new construction should be developed, while those suitable for remodeling should be remodeled. Additionally, Jung identified 'administrative direction and philosophy' as issues under Oh Se-hoon's administration. He stated, "The citizens should be the owners, and we must do what they want, but the current administration operates as if the mayor is the owner." He concluded by praising the swift designation of maintenance zones through rapid integrated planning and the small-scale housing maintenance project ideas through the 'Moa Town' initiative.* This article has been translated by AI. 2026-05-19 15:46:26

87% of This Year's African Swine Fever Cases Linked to Foreign Sources This year, 87% of the confirmed cases of African swine fever (ASF) in South Korean farms have been traced back to foreign sources. The primary routes of transmission are believed to be through feed ingredients and the compounded feed made from them. The Animal and Plant Quarantine Agency released the findings of its epidemiological investigation into the causes of ASF on May 19. Between January 16 and March 16, 24 cases of ASF were reported across seven provinces nationwide. Notably, the disease spread to regions beyond the previously affected areas of Gyeonggi, Gangwon, and North Gyeongsang, including South Chungcheong, North Jeolla, South Jeolla, and South Gyeongsang. Of the 24 cases, three were of a type previously identified in South Korea, while 21 were linked to strains originating from abroad. Key factors contributing to the outbreak include infection through feed ingredients, illegal distribution of livestock products, and contamination from wild boars. The Central Disaster Management Headquarters noted that ASF genes from foreign strains were detected in feed ingredients and compounded feed supplied to the affected farms, confirming a link between the farms and the contaminated feed. Additionally, ASF genes were found in six unreported products seized during crackdowns on illegal livestock products, raising concerns about the potential for virus entry through border inspection networks. Authorities also believe that contamination from wild boar carcasses may have transmitted the virus to domesticated pigs on farms. The Central Disaster Management Headquarters is enhancing its biosecurity measures. A testing system for ASF has been established, requiring inspections of all pigs being shipped from slaughterhouses nationwide. To prevent ASF entry through illegal livestock products, the agency is expanding X-ray inspections of travelers' luggage. Park Jeong-hoon, head of the Food Policy Office at the Ministry of Agriculture, Food and Rural Affairs, stated, "We are implementing proactive biosecurity measures starting from the entry of foreign workers to slaughterhouses and wild boars to prevent a recurrence of ASF. We urge farms to actively cooperate with biosecurity management, including restricting access for people and vehicles and prohibiting the entry of illegal livestock products into farms."* This article has been translated by AI. 2026-05-19 15:43:35

President Lee Welcomes Japanese Prime Minister Takaichi in Andong President Lee Jae-myung personally welcomed Japanese Prime Minister Sanae Takaichi on May 19 in Andong, where they were set to hold a Korea-Japan summit.President Lee stood at the entrance of a hotel in downtown Andong around 1:40 p.m. waiting for the arrival of Prime Minister Takaichi's vehicle.As the black car arrived, President Lee greeted Takaichi with a bright smile, clapping his hands and shaking her hand.The two leaders, meeting for the third time in an official capacity, displayed their camaraderie by holding hands and patting each other on the shoulder."I appreciate you coming all the way to our small rural city. I have been waiting since last night," President Lee said in welcoming Takaichi.Takaichi praised the traditional music band and honor guard that preceded her vehicle, saying, "Wonderful," and smiled broadly at President Lee, expressing her gratitude.Before entering the meeting venue, Takaichi bowed to the band and the press, following President Lee's lead.On this day, President Lee wore a sky-blue tie that matched the tone of Takaichi's suit jacket.A Blue House official explained, "The tie was chosen to convey a friendly feeling with a special meaning of shuttle diplomacy, symbolizing respect and trust."* This article has been translated by AI. 2026-05-19 15:42:00