Seoul Mayoral Candidates Share Messages on Buddha's Birthday Seoul mayoral candidates Jung Won-o of the Democratic Party and Oh Se-hoon of the People Power Party met on May 24 to celebrate Buddha's Birthday. Jung stated, "I will become a mayor who takes care of the lives of vulnerable groups," while Oh expressed his commitment to "embracing the socially disadvantaged and creating a community in Seoul where the quality of life improves." The two candidates attended the Buddha's Birthday ceremony at Jogyesa Temple and later shared their celebratory messages on Facebook. Jung remarked, "The Buddha left teachings of compassion for those who are suffering and in need," adding, "I will become a mayor who alleviates the sighs of citizens amid high oil and food prices." He emphasized his intention to strengthen support for vulnerable groups and solidify the roots of people's livelihoods. He also stated, "I will not overlook even the smallest gaps that threaten citizens' safety, and I will create a special safety city in Seoul where everyone can feel secure in their daily lives," stressing that he will focus solely on the lives of citizens and the future of Seoul, undeterred by the political advantages or momentary emotions of the election. Oh noted, "The Buddha's teachings on the sanctity of life and harmonious coexistence serve as a warm beacon of hope for humanity suffering from conflict and strife," reflecting on the deep lesson of achieving harmony. He reaffirmed his commitment to focusing solely on the citizens of Seoul, stating, "I will work tirelessly to embrace the socially disadvantaged more warmly based on the spirit of the Buddha's compassion and to bridge the gaps between regions in Seoul, enhancing the quality of life for all ten million citizens."* This article has been translated by AI. 2026-05-24 15:07:05

Lee calls for national unity on Buddha's Birthday SEOUL, May 24 (AJP) - President Lee Jae Myung pledged to build a government that "saves people's lives" in remarks at a Buddha's Birthday ceremony at Jogyesa Temple in central Seoul on Sunday. Lee said he would "do my utmost to build a government that saves people's lives" and put into practice Buddha's teaching that "everyone is noble and equal." "The government will take Buddha's precious words as a lamp," he added, vowing to pay closer attention to each person's life and to build a country that listens to "voices from the lowest places." Lee also highlighted Buddhism's enduring presence in South Korean society, saying temple lights never went out even in the darkest times such as war, poverty and disaster, offering people a place to pause and find solace. He also pledged to carry forward the religion's spirit of harmonizing differences into one and to overcome crises facing the country and its people through unity. Earlier in the day, Lee also wrote on Facebook a similar message on Buddha's teachings, calling for national unity. 2026-05-24 15:01:38

Rain Expected Nationwide on Monday with Temperature Variations On Monday, May 25, which is a substitute holiday, rain is expected across the country. The Korea Meteorological Administration announced on May 24 that rain will begin in Jeju Island in the afternoon and will spread to the Jeolla region and western South Gyeongsang Province by night. By May 26, cumulative rainfall is forecasted to reach 30 to 80 mm in Seoul, Incheon, Gyeonggi Province, Gangwon Province, and Chungcheong Province, while areas along the southern coast of Jeolla and near Jirisan Mountain, as well as the southern coast of Gyeongnam and Jirisan, could see 80 to 150 mm. The temperature difference is expected to be around 15 degrees Celsius, so residents should take care of their health. Morning lows are predicted to be between 12 and 18 degrees, while daytime highs will range from 22 to 30 degrees. Forecasted high temperatures in major cities include 30 degrees in Seoul, 29 degrees in Incheon and Suwon, 30 degrees in Chuncheon, 27 degrees in Gangneung, 29 degrees in Cheongju, Daejeon, and Jeonju, 27 degrees in Gwangju, 28 degrees in Daegu, 25 degrees in Busan, and 26 degrees in Jeju. Forecasted low temperatures are 18 degrees in Seoul and Incheon, 17 degrees in Suwon, 15 degrees in Chuncheon, 16 degrees in Gangneung, 18 degrees in Cheongju, 16 degrees in Daejeon, 17 degrees in Jeonju, 18 degrees in Gwangju, 15 degrees in Daegu, 17 degrees in Busan, and 19 degrees in Jeju. Waves in the inner seas (about 200 km from the coastline) are expected to reach 0.5 to 2.0 meters in the West and South Seas, and 0.5 to 1.5 meters in the East Sea.* This article has been translated by AI. 2026-05-24 14:27:45

President Lee Jae-myung Promises a Government That Saves Lives On Buddha's Birthday, President Lee Jae-myung stated at a ceremony at Jogyesa Temple in Seoul that he aims to create a government that "saves the lives of the people." He emphasized, "I will pay closer attention to the lives of each citizen and listen to the voices from the lowest levels of society." Highlighting the Buddhist principle of 'harmonious unity,' he stressed the need to overcome the nation's crises with collective strength. In a time of deepening political polarization and social conflict, the president's call for unity and coexistence carries significant weight. The concept of harmonious unity does not mean erasing differing opinions. It advocates recognizing differences without resorting to extremes and finding a path forward for the community. This aligns with the essence of democracy, which is not about eliminating opponents but about reconciling diverse opinions within a system. The challenge lies in the current political landscape, which seems to stray from this direction. Political parties react swiftly to each other's mistakes and inflammatory remarks but are reluctant to cooperate for the sake of people's livelihoods and the economy. Even in the context of local elections, emotional rhetoric and partisan rivalry often overshadow policy competition. While political criticism is necessary, repeated demonization of opponents can lead society to become accustomed to a politics of hostility. Buddhism emphasizes the Middle Way, which encourages finding balance without leaning towards extremes. The same applies to politics. While majority rule is a fundamental principle of democracy, a democracy that does not respect minority opinions is unlikely to endure. The president and the ruling party should not dominate simply because they hold power, and the opposition cannot gain public trust through unconditional opposition alone. Politics should focus on persuading the public rather than subduing opponents. Currently, South Korea faces significant economic challenges, including low growth, high inflation, an aging population, regional decline, youth anxiety, and industrial restructuring. The strategic competition between the U.S. and China, along with supply chain shifts and the AI revolution, has further increased national uncertainty. If politics becomes mired in division and confrontation during such times, the country's overall capacity to respond will inevitably weaken. Historically, moments when nations overcame crises were marked by the strength of unity over conflict. The gold-collecting campaign during the financial crisis symbolized national solidarity. During the COVID-19 crisis, the cooperation between healthcare workers and citizens sustained society. Conversely, when politics becomes extremely polarized, economic and social instability tends to increase. Politics should not create anxiety among the public but rather provide reassurance. The president's vision of a "government that saves the lives of the people" must start from this premise. Protecting citizens' lives encompasses more than just disaster response; it includes ensuring safe workplaces and streets, safeguarding the vulnerable through welfare, reducing conflicts through effective systems, and fostering a political culture that prevents hatred and violence. Politics that sustains the lives of the people must be proven through policies and actions, not just words. The spirit of harmonious unity is required from both the ruling and opposition parties. Politicians must break free from the habit of defining opponents as enemies during elections and solely focusing on rallying their support bases. They should cooperate on national issues, openly discuss policy differences, and use restrained language in front of the public. This is fundamental and common sense. The message of Buddha's Birthday should not end as a mere congratulatory remark at a religious event. Unity and coexistence must be a public commitment that the entire political sphere practices. The public desires a politics that solves problems rather than one that thrives on conflict. Harmonious unity is not a complex Buddhist term but a common sense that today's South Korean politics urgently needs to learn.* This article has been translated by AI. 2026-05-24 14:25:00

Samsung faces pressure from shareholders amid union vote on tentative deal SEOUL, May 24 (AJP) - Samsung Electronics has allowed access to its register of shareholders. It comes amid growing opposition from some retail investors over a last-minute, tentative deal between management and its labor union last week that averted an 18-day strike but sparked fresh controversy over how the electronics giant distributes its unprecedented profits, fueled by an artificial intelligence-driven chip supercycle. ACT, a platform for retail shareholders, said Samsung accepted its request to review and copy the register just two days after it was filed. The group is expected to carry out the review at Samsung Electronics' headquarters in southern Seoul later this week. The unusually swift approval gives ACT access to the register, which contains ownership details as well as voting rights and dividend eligibility, allowing the group to pursue coordinated shareholders' action at South Korea's largest listed company by market capitalization. Under South Korean law, shareholders have the right to request access to such records, a step often used as a starting point for collective action. The request was made after the company's tentative wage and bonus-related arrangements raised questions about whether shareholders were receiving a fair share of the company's profits. Once access to the register is completed, the group plans to contact institutional and retail investors, even those holding a minimum number of shares, to seek support for collective action. ACT plans to contact domestic and foreign investors holding over 6,735 Samsung shares, aiming to collectively reach the 1.5-percent threshold required under South Korean law to call an extraordinary shareholders' meeting. To qualify, shareholders must have held their shares for at least six months. The core concern centers on a bonus structure that allocates a fixed share of operating profit to bonus payments, which critics say could come at the expense of dividends and broader shareholder returns, infringing on their interests. ACT argues that while management can hand out one-off bonuses at its discretion, a permanent profit-sharing arrangement of this kind is significant enough that shareholders should have a say. ACT's push comes as Samsung union members are in the middle of a weeklong vote on whether to accept the tentative deal, putting the company under simultaneous pressure from both labor and shareholders. With voting set to close on Wednesday, more than 80 percent of the 57,290 eligible voters out of about 70,505 union members had already voted, raising the likelihood that the deal would pass, with members of the memory division accounting for the largest share at around 24,000, followed by roughly 17,000 from the non-memory business and about 22,000 from other divisions. For the deal to pass, more than half of eligible voters must participate and a majority must vote in favor. 2026-05-24 14:22:06

Justice Innovation Party Calls for Kim Yong-nam to Consider His Position Amid Loan Shark Allegations The Justice Innovation Party criticized Kim Yong-nam, the Democratic Party's candidate for Gyeonggi Pyeongtaek, on May 24, calling him a "three-time disqualified candidate" due to allegations of being involved in loan sharking. They urged him to "seriously consider his position." Shin Jang-sik, a member of the Justice Innovation Party, held a press conference at the National Assembly, stating, "Kim has betrayed the trust of Pyeongtaek citizens and abandoned the minimum moral integrity required of a public office candidate with his false explanations and evasions. Most importantly, his qualifications as a candidate from the democratic reform camp have been compromised." Shin pointed out that while Kim denies owning the loan shark business, he admitted to it in a 2021 recording, where he stated, "I own 100% of the shares and earn 300 to 400 million won a year, and all dividends are mine." Regarding Kim's claim that there were no illegal dividends or profits, Shin questioned, "Is it acceptable for someone aspiring to public office to justify their actions by saying they received 'legal' profits from a loan shark business? The mere fact that he engaged in usury makes him unfit for public office." Shin also refuted Kim's recent explanation that he had ceased operations and was in the process of closing the business. He stated, "Last year, 'Mansamusa Lending' increased its capital from 300 million to 500 million won to continue its operations and completed a business renewal on May 18 to operate for another three years. His sudden closure announcement after media scrutiny is merely a legal technicality." Shin urged Kim not to burden the democratic reform camp and to seriously contemplate his position, adding that the Democratic Party should conduct an ethical investigation. The Democratic Party responded cautiously. Spokesperson Kang Jun-hyun stated after the press conference, "The candidate himself claims that the facts are different, and the party is monitoring the situation closely." Meanwhile, on the same day, Kim Yong-nam, along with Yoo I-dong of the People Power Party, Jo Guk of the Justice Innovation Party, and Kim Jae-yeon of the Progressive Party, attended a ceremony at Simboksa Temple to celebrate Buddha's birthday.* This article has been translated by AI. 2026-05-24 14:18:55

U.S. and Iran Near Agreement on 60-Day Ceasefire and Hormuz Strait Access The possibility of a renewed ceasefire in the Middle East has increased as the United States and Iran edge closer to an agreement. According to U.S. online media Axios and Yonhap News, the two nations are nearing a deal that includes a 60-day extension of the ceasefire and the opening of the Strait of Hormuz without tolls.Axios reported, citing a draft agreement obtained from U.S. government officials, that both sides are expected to sign a memorandum of understanding (MOU) that will be valid for 60 days and can be extended by mutual consent.This report follows a visit by a Pakistani mediation team to Tehran for high-level talks and a series of calls made by President Donald Trump with the mediating country, announcing that a peace agreement with Iran is imminent.Iran's Foreign Ministry is also working to finalize the MOU, proposing a three-step plan for an official end to hostilities and resolution of the crisis in the Strait of Hormuz, according to Iranian media.The draft MOU reported by Axios states that during the 60-day ceasefire, the Strait of Hormuz will be open without tolls, and Iran has agreed to remove mines to ensure freedom of navigation. In return, the U.S. will lift sanctions to allow Iran to sell oil freely.The draft also includes a commitment from Iran not to engage in nuclear weapons development and to participate in negotiations to halt uranium enrichment and dispose of high-enriched uranium.Iran has verbally communicated its position to the U.S. through the mediating country regarding how far it is willing to concede on issues such as halting uranium enrichment and relinquishing nuclear materials.The draft also indicates that U.S. troops stationed near Iran will remain in place during the 60-day ceasefire and will only withdraw once a final agreement is reached.* This article has been translated by AI. 2026-05-24 13:51:46

President Yoon Pledges to Create a Government That Saves Lives President Lee Jae-myung vowed to create a government dedicated to saving lives. In a speech at the Buddha's Birthday celebration held at Jogyesa Temple in Seoul on May 24, the president stated, "Above all, I will do my utmost to create a government that saves lives, practicing the teaching that all people are precious and equal." He added, "A government of the people will take the Buddha's precious words as a guiding light, ensuring that we pay closer attention to the lives of each citizen and listen to the voices from the most marginalized." President Lee remarked, "The teachings of the Buddha have accompanied us through joy and sorrow over the years, healing pain and embracing the marginalized during times of national crisis and grief." He noted that despite wars, poverty, disasters, and social conflicts, the light of the temples has never gone out, allowing citizens to pause and find peace in their lives. He also committed to overcoming national crises with the united strength inspired by the spirit of 'Won-yung Hwa-tong' (harmonizing different arguments into one). Earlier in the day, President Lee emphasized the teachings of the Buddha, which were born on the road, and the spirit of harmony in a post on Facebook, reiterating the importance of unity and understanding.* This article has been translated by AI. 2026-05-24 13:42:43

Kim Sang-wook Halts Unification Polls Amid Allegations of Interference As the Democratic Party and the Progressive Party conduct unification polls for the Ulsan mayoral race starting May 23, Kim Sang-wook, the Democratic Party's candidate, announced that he would halt the polls due to suspicions of organized interference by certain factions. The Progressive Party responded by expressing strong regret over what they termed a unilateral declaration. In a statement on May 24, Kim said, "I received information this morning that the polling agency discovered unusual circumstances, leading to the decision to suspend the polls. The trends observed during the polling were highly irregular and beyond what could be typically anticipated, raising suspicions of organized interference by certain factions." He continued, "We believe that proceeding with the unification primary under the current circumstances could infringe upon the democratic rights of Ulsan citizens, so we deemed it impossible to continue. An emergency meeting of the general election headquarters was convened, resulting in the decision to halt the polls." Kim clarified, "I want to make it clear that I am not abandoning or rejecting unification. I am not violating any agreements. We will quickly discuss alternative methods for unification and continue to work towards a beautiful unification without pause." However, the Progressive Party expressed their discontent. In a statement, they said, "We have not identified any unusual aspects regarding the mayoral candidate polling. While Kim's camp claims to suspect interference by certain factions, we have not received any concrete evidence to support this assertion." They added, "This unilateral declaration contradicts the spirit of our agreement and does not align with the citizens' demand for unity to resolve the ongoing turmoil. We call for a sincere attitude and position from Kim's camp." * This article has been translated by AI. 2026-05-24 13:09:51

AJP DEEP INSIGHT: The AI Semiconductor age and new strategic heart of global economy SEOUL, May 24 (AJP) - In 2026, the global economy increasingly revolves around three semiconductor giants: Samsung Electronics, SK hynix, and TSMC. In the 20th century, oil, automobiles, steel, and finance defined the architecture of global power. In the 21st century, however, the center of gravity is shifting decisively toward artificial intelligence and semiconductors. AI is no longer merely a technology sector. It is rapidly becoming the operating infrastructure of modern civilization itself — reshaping defense, finance, medicine, education, logistics, communications, manufacturing, and governance. At the core of this transformation lie GPUs, high-bandwidth memory, advanced foundries, and sub-nanometer process technologies. American technology companies may dominate the AI platforms and software ecosystems, but the physical engines powering the AI revolution are increasingly built in South Korea and Taiwan. If the United States controls much of AI's operating system and cloud architecture, then South Korea and Taiwan control the memory systems and production arteries of the AI age. This is why semiconductors are no longer viewed merely as industrial products. They have become strategic national assets — inseparable from economic security, geopolitical influence, and technological sovereignty. South Korea's economy today rests heavily upon semiconductors, particularly Samsung Electronics and SK hynix. Together, the two companies account for nearly half of the total market capitalization of the South Korean stock market. Their influence extends far beyond corporate earnings. Their performance directly affects the national pension system, retirement funds, exchange-traded funds, household wealth, tax revenues, exports, employment, currency stability, and overall economic growth. Samsung Electronics alone has approximately five million retail shareholders, making it one of the largest "national stocks" in modern financial history. When family exposure through pensions and indirect investment vehicles is included, a substantial portion of the South Korean population is tied — directly or indirectly — to Samsung's fortunes. SK hynix, meanwhile, has undergone a remarkable transformation. Once viewed primarily as a conventional DRAM manufacturer, it has emerged as one of the most strategically important companies in the AI era through its dominance in HBM, or High-Bandwidth Memory. HBM has become essential to advanced AI systems because modern AI servers require memory architectures capable of processing enormous volumes of data at extraordinary speed. If GPUs are the "brains" of AI, then HBM functions as the high-speed neural network enabling those brains to think. This has elevated both Samsung and SK hynix into indispensable pillars of the global AI supply chain. Taiwan's TSMC has risen through a different path, but with equally profound consequences. Unlike Samsung and SK hynix, TSMC is not primarily a memory producer. It is the world’s dominant advanced semiconductor foundry. Virtually every major AI and high-performance computing company — including NVIDIA, Apple, AMD, Broadcom, and Qualcomm — depends heavily on TSMC's manufacturing capabilities. TSMC is therefore far more than a contract manufacturer. It is arguably the most important industrial production platform in the modern world. Its strategic importance has transformed Taiwan itself. TSMC now represents roughly 35 to 40 percent of Taiwan's stock market capitalization, and its performance profoundly affects the island's exports, currency, fiscal revenues, employment, investment flows, and national security calculations. This is one reason why the Taiwan Strait issue has become inseparable from global technological stability. Behind the geopolitical tensions lies what analysts often call the "Silicon Shield" — the reality that any disruption to TSMC could destabilize the entire global AI ecosystem. Yet the defining challenge of the AI semiconductor era is not simply technological leadership. It is also the question of how nations allocate profits, sustain investment, reward talent, and preserve long-term competitiveness. This debate has now surfaced sharply inside South Korea. Recent labor agreements at Samsung Electronics and SK hynix have intensified discussion over performance-based compensation systems tied directly to operating profits. Samsung's tentative labor agreement reportedly allocates special performance bonuses equal to 10.5 percent of operating profit, while SK hynix has agreed to dedicate approximately 10 percent of operating profit to employee incentives. From the perspective of employees, the logic is understandable. Semiconductor manufacturing is one of the most demanding industries in the world. Engineers, researchers, and production workers operate under relentless pressure in an environment where technological precision determines global competitiveness. But semiconductors are also among the most capital-intensive industries ever created. Unlike many service industries, semiconductor leadership cannot be sustained through short-term profitability alone. It requires massive reinvestment during boom cycles in order to survive inevitable downturns and finance the next generation of process technologies. A single advanced semiconductor fabrication plant can cost tens of billions of dollars. Missing one technological cycle can result in years of strategic disadvantage. This is why many industry observers are increasingly concerned that rigid profit-sharing structures tied mechanically to operating income could weaken long-term investment capacity. The contrast with global competitors is striking. Micron Technology is dramatically expanding capital expenditures and investing heavily in large-scale fabrication facilities in the United States and Singapore. TSMC has announced plans to spend as much as $56 billion this year alone on capital investment while expanding production bases in Taiwan, the United States, Europe, and Japan. In semiconductors, capital expenditure is not optional. It is survival. This does not mean employee compensation should be minimized. On the contrary, sustainable innovation requires world-class talent and fair rewards. The real issue is balance. Global technology leaders rarely rely on operating profit alone when determining compensation. Companies such as TSMC, Apple, and NVIDIA typically combine multiple indicators: revenue growth, operating margin improvement, shareholder returns, long-term strategic contribution, stock-based incentives, and individual performance assessments. Most importantly, many global firms use restricted stock units and long-term equity compensation to align employee incentives with the company's future value creation. Samsung's recent decision to incorporate stock-linked compensation therefore represents an important shift toward a more globally aligned model. Yet further refinement may still be necessary. Sustainable compensation systems must balance employee rewards, shareholder interests, reinvestment needs, research funding, and long-term competitiveness. This debate is ultimately larger than labor negotiations. It raises a fundamental national question: how should a country distribute the enormous wealth generated by strategic technologies while preserving future competitiveness? Semiconductors today are not merely commercial products. They are strategic infrastructure. The United States clearly understands this reality. Through the CHIPS Act and broader industrial policy initiatives, Washington is attempting to bring advanced semiconductor production within its own national security perimeter. China, meanwhile, is accelerating efforts toward semiconductor self-sufficiency through companies such as Huawei, despite export restrictions and technology controls. Japan, once the world's semiconductor superpower, is also attempting a resurgence through Rapidus while leveraging its enduring strengths in semiconductor materials, chemicals, and precision equipment. The strategic contest now unfolding is therefore not simply economic. It is civilizational. The 19th century belonged to Britain. The 20th century belonged largely to the United States. The defining question of the mid-21st century may become this: Where is the industrial heart of the AI civilization being built? Increasingly, the answer points toward Northeast Asia. Military power may still be dominated by the United States. Global finance may still revolve around the dollar. But the critical production infrastructure of the AI era — memory, foundries, advanced packaging, semiconductor manufacturing ecosystems — is increasingly concentrated across South Korea, Taiwan, Japan, and parts of China. Samsung Electronics and SK hynix supply the memory systems of the AI age. TSMC manufactures many of its cognitive engines. Together, these companies are no longer ordinary corporations. They have become strategic pillars supporting the architecture of the global digital economy. Oil powered the 20th century. Semiconductors are powering the 21st. And today, the heartbeat of that semiconductor civilization can increasingly be heard in Northeast Asia. 2026-05-24 12:59:34