Namyang Dairy Reports 10% Increase in Formula Sales in Q1, Accelerates Southeast Asia Expansion Namyang Dairy is achieving success with its premium formula strategy, focusing on ingredient competitiveness. The company reported a 10% increase in formula sales in the first quarter of this year, with exports soaring by 54%, indicating a rapid expansion of its global business. On May 22, Namyang Dairy announced that its formula sales in Q1 rose by 10% compared to the same period last year. Domestic sales increased by 4%, while exports experienced a remarkable 54% surge. The company explained that the growing consumer trend in the infant food market is shifting from brand recognition to prioritizing product competitiveness, such as ingredients and nutritional design, which has contributed to the success of its premium product strategy. Namyang Dairy currently exports formula to major Asian countries, including China, Vietnam, Cambodia, Taiwan, and Mongolia. In Cambodia, the company holds about 90% market share in the Korean formula segment, while in Vietnam, it is expanding local distribution partnerships. Recently, at the Korea-Vietnam Business Forum, Namyang Dairy signed a memorandum of understanding (MOU) worth 70 billion won with Vietnam's largest distribution company, Phu Thai Holdings, for a three-year collaboration. A Namyang Dairy representative stated, "The competitive landscape in the formula market is rapidly shifting from price-based to ingredient-based. We plan to continue expanding our market presence in Asia, including Southeast Asia, based on our quality competitiveness from domestic raw milk and premium nutritional design." Meanwhile, Namyang Dairy has been recovering from poor performance during a legal dispute between former chairman Hong Won-sik, the second-generation founder, and private equity firm Hahn & Company. The company's profitability has improved since last year. In Q1 of this year, operating profit reached 500 million won, a 572% increase compared to the same period last year. Revenue for the same period was 225.2 billion won, up 4.4%.* This article has been translated by AI. 2026-05-23 15:03:24

Kakao Pay Waives Transaction Fees for New Small Business Merchants Kakao Pay announced on May 22 that it will fully waive transaction fees for Kakao Pay Money payments made by newly registered small and micro merchants until the end of this year. From May 18 to June 30, small businesses with annual sales of 500 million won or less can apply for this benefit. The fee waiver applies to Kakao Pay Money barcode and QR code payment transactions. Merchants who record their first payment will receive a "Success Kit for Business Owners," which includes fee reductions, promotional materials, discount coupons, and advertising support through the Kakao Pay app and Kakao Map. A free payment kit that does not require complex, high-cost systems like terminals or barcode scanners will also be provided. Foreign tourists can make payments using their home payment services without needing to exchange currency. Kakao Pay stated, "Our goal is to alleviate the management burden on small business owners facing high prices and fuel costs while connecting them with regular customers without additional costs or complicated procedures. We aim to create and grow a payment ecosystem that benefits both users and merchants." As of now, Kakao Pay has surpassed 6 million monthly offline payment users, with a cumulative transaction count reaching 500 million.* This article has been translated by AI. 2026-05-23 15:00:34

Yoon Bo-mi Exits 'Nasol Saga,' Thanks Viewers for Support Yoon Bo-mi of the girl group Apink has exited the reality show 'Nasol Saga.' During the May 21 broadcast of SBS Plus and ENA's entertainment program 'I Am SOLO, Love Continues' (also known as 'Nasol Saga'), the final selection of solo participants was featured in a special episode. At the end of the episode, host Defconn announced, "I have some disappointing news to share. Today is Yoon Bo-mi's last recording day." In response, Yoon Bo-mi expressed her gratitude, saying, "I feel I have not done enough over the past year and a half, but I appreciate the viewers for their kind support. I was so happy to be part of a program I really wanted to join. I will return as a viewer and cheer for 'Nasol Saga' with enthusiasm." On May 18, the production team of 'Nasol Saga' announced that actress Jung Hye-seung would be joining as Yoon Bo-mi's replacement. Meanwhile, Yoon Bo-mi married composer Rado (real name Song Joo-young) on May 16 in a hotel in Seoul, surrounded by family and fellow entertainers. According to the music industry, the ceremony was hosted by broadcaster Kim Gi-ri, and members of Apink performed a congratulatory song. The girl group STAYC and the duo Unchild, both under Rado's agency High Up Entertainment, also performed to celebrate the couple's future together. Rado is the main producer for STAYC and is a well-known composer who has created hit songs for groups like TWICE and Chungha.* This article has been translated by AI. 2026-05-23 14:58:04

Bodyfriend Unveils New Color 'Daiadenim' for Healthcare Robot 'New Falcon' Bodyfriend has expanded its color lineup for the compact healthcare robot 'New Falcon' with the introduction of a new color, 'Daiadenim.' According to Bodyfriend, the 'New Falcon' is the flagship model of the company's Falcon series of compact healthcare robots, which has sold a total of 100,000 units and generated 300 billion won in revenue. The series includes popular models such as 'Falcon S,' 'Falcon i,' and 'Falcon N.' The new 'Daiadenim' color is the second addition to the lineup, following the initial beige option. This color features a denim material combined with a diamond quilting pattern, appealing to luxury brands. The bright sky-blue denim used on the front of the product lightens the typical weightiness associated with healthcare appliances and enhances its appeal as an interior design object. The 'New Falcon' is designed specifically for sleep and relaxation-focused massages. It features a 'Flexible SL Frame' that can be adjusted up to 155 degrees and an XD Air massage module that provides a close massage tailored to the body's contours. It supports 28 massage modes, including 'Deep Sleep,' 'Mini Nap,' and 'Quiet Night.' Additionally, it includes a heating function adjustable in three levels up to 60 degrees and 14 anti-pinch sensors. A Bodyfriend representative stated, "The New Falcon is a steady seller, loved for its compact size and healthcare robot technology. We will continue to expand the product experience by considering not only functionality but also design elements as an interior focal point."* This article has been translated by AI. 2026-05-23 14:55:17

Iran Resumes Drone Production During Ceasefire, U.S. Intelligence Reports Faster Recovery Iran has reportedly resumed some drone production during the ceasefire with the United States and Israel. U.S. intelligence agencies assess that Iran's recovery of its military production capabilities is occurring faster than initially expected. According to CNN on May 21, two sources familiar with U.S. intelligence assessments stated that Iran began resuming some drone production during the six-week ceasefire that started in early April. Four additional sources indicated that the Iranian military is restoring its military capabilities much more quickly than anticipated. Some intelligence evaluations suggest that Iran could restore its drone attack capabilities to pre-war levels within six months. Drones are considered a key supplementary force for Iran. Even with significant damage to its missile production capabilities, increasing drone numbers allows Iran to maintain pressure on Israel and Gulf states. CNN reported that both Israel and Gulf nations fall within the range of Iran's drones and missiles. During the conflict, U.S. and Israeli airstrikes targeted missile bases, launch sites, and major weapon production facilities in Iran. However, recent intelligence assessments indicate that Iran still possesses ballistic missiles, drones, and air defense capabilities. CNN previously reported that approximately half of Iran's missile launchers survived U.S. airstrikes, with recent estimates suggesting that this figure has risen to two-thirds. Factors contributing to the accelerated recovery include external support and less extensive damage from airstrikes than expected. CNN noted that assistance from Russia and China, along with the limited impact of U.S. and Israeli airstrikes, has influenced Iran's rapid reconstruction. U.S. intelligence assessments also indicate that China has continued to supply components that could be used for missile production during the conflict. However, the Chinese Foreign Ministry denied these allegations, stating they are "not based on facts." U.S. intelligence assessments differ from public statements made by military officials. On May 20, U.S. Central Command Commander Brad Cooper testified before the House Armed Services Committee that U.S. operations had significantly weakened Iran's ballistic missile and drone capabilities, claiming that 90% of Iran's defense industrial base had been destroyed, preventing recovery for years. However, sources cited by CNN indicated that recent intelligence assessments do not align with this explanation. One source stated, "The damage to Iran's defense industrial base may have delayed recovery by months rather than years." CNN analyzed that while the conflict has indeed harmed Iran's military capabilities, it has not completely destroyed them. With some production capabilities still intact, the pace of recovery for specific military capabilities could be even faster.* This article has been translated by AI. 2026-05-23 14:54:00

Deputy Prime Minister Koo Yoon-cheol Announces Expansion of Entrepreneurship Support Koo Yoon-cheol, Deputy Prime Minister and Minister of Economy and Finance, stated on May 22 that the government will continue to implement measures to alleviate the burden on citizens in preparation for the post-war period. He announced plans to double the scale of the second phase of the "Everyone's Entrepreneurship" project. Koo made these remarks during a meeting at the Government Seoul Complex that combined the Emergency Economic Headquarters, the Economic Ministers' Meeting, and the National Entrepreneurship Strategy Meeting. From May 1 to 20, exports increased by 64.8% compared to the same period last year, indicating a positive trend. Additionally, the consumer sentiment index for May has shown an upward turn for the first time in three months. However, due to ongoing economic uncertainties stemming from the prolonged conflict in the Middle East, the government plans to continue monitoring supply chain impacts and extend fuel tax reductions to ease the burden on citizens. Koo emphasized the need for structural reforms to boost potential growth rates and address polarization, stating, "We will accelerate various policies that citizens can feel in their daily lives." The meeting also focused on the "Everyone's Entrepreneurship" project, which is led by the Ministry of SMEs and Startups. This initiative supports anyone with an idea to start a business by providing funding and resources. Previously, the government held a competition for the first phase of the Everyone's Entrepreneurship project, attracting 63,000 applicants. In the coming month, about 5,000 successful candidates will be selected for close mentoring, startup funding, and support for utilizing artificial intelligence (AI) solutions, with 2 million won allocated for each. Among these, 1,100 individuals will receive preferential guarantees of up to 500 million won and business funding of up to 20 million won. The final winner will be determined through regional and national auditions. Koo announced that the second phase of the Everyone's Entrepreneurship project will expand to 10,000 participants, starting in July, and will introduce new categories for universities, youth, and global leagues to foster broader competition. The meeting also included discussions on transitioning to a preventive personal data management system and plans for the early expansion of public incineration facilities. The management system for high-risk personal data will be closely monitored, with recommendations for improvements based on risk levels. Personal data processors will be categorized into high, medium, and low-risk groups based on industry, data processing scale, and characteristics. Companies that actively invest in personal data protection will be offered incentives, such as reduced fines. Small businesses will receive subscription-based consulting services, and efforts will be made to enhance the personal data protection ecosystem through professional training. Additionally, the government plans to reduce the typical 12-year timeline for public incineration facility projects to a maximum of 3.5 years. Instead of forming a separate site selection committee for expansions on the same site, approvals will be granted through local resident support committees. Koo stated, "We will simplify administrative procedures, including exemptions from local government investment reviews, and conduct environmental impact assessments and various permits concurrently with facility design to shorten construction periods."* This article has been translated by AI. 2026-05-23 14:48:51

Samsung Electronics and Labor Union Withdraw Complaints Amid Ongoing Police Investigation Samsung Electronics and its labor union have agreed to withdraw various civil and criminal complaints ahead of a union vote on a tentative agreement. This decision aims to resolve ongoing conflicts and foster a healthier labor-management relationship.According to industry sources on May 22, Samsung Electronics and the labor union recently held a meeting to discuss performance bonuses, during which they decided to withdraw complaints related to allegations of creating a 'blacklist' of non-union members and the unauthorized disclosure of employee information.Both parties stated, "We are committed to improving organizational culture for the development of healthy labor relations, which includes providing office space for the union at Samsung Electronics' Pyeongtaek facility and withdrawing various civil and criminal complaints."Previously, on April 9, Samsung Electronics filed a complaint against an employee for allegedly using personal information of other employees to create and distribute a so-called 'blacklist' regarding union membership.The employee reportedly accessed employee information over 20,000 times through two internal systems within about an hour.On April 16, the company also identified and filed an additional complaint against an employee for unlawfully collecting and transmitting personal information in bulk.The police, upon receiving the reports, initiated a forced investigation, including a search of Samsung Electronics' computer servers this month.Despite the company's withdrawal of complaints, the police investigation is expected to continue, as violations of the Personal Information Protection Act are not subject to complaint withdrawal or private prosecution.However, since the company has expressed its unwillingness to pursue punishment, this may positively influence the prosecution stage or the court's final judgment in the future. 2026-05-23 14:46:15

K-Culture Showcases Food, Beauty, and Content at K-EXPO USA 2026 in LA A K-Culture expo showcasing content, food, beauty, and tourism will take place in Los Angeles, the heart of the global entertainment industry. The Ministry of Culture, Sports and Tourism announced on May 22 that it will host the "K-EXPO USA 2026" from May 23 to 27 in collaboration with the Ministry of Agriculture, Food and Rural Affairs, the Ministry of Oceans and Fisheries, the Ministry of Health and Welfare, the Ministry of SMEs and Startups, and the Korea Creative Content Agency. The K-Expo aims to support the overseas expansion of companies in the K-Culture sector, including content, food, beauty, and tourism. It will feature a range of activities, from consumer-focused events to export consultations and presentations for businesses. This year's expo is particularly significant as it coincides with the global interest in the North America World Cup, which will be co-hosted by the United States, Canada, and Mexico from June 11 to July 19. Los Angeles, as a key location in the entertainment industry, adds to the event's importance. The expo will feature major K-Culture companies and AI content firms showcasing cutting-edge technology and trends. Netflix will present Korean creative content and images of Korean pop culture, along with a space introducing food products utilizing its intellectual property. The Korea Football Association will operate an exhibition focused on the South Korean national soccer team. Naver Webtoon will create a combined exhibition space featuring webtoon content centered on food and beauty. Innovative content will also be on display, including a food brand pavilion from Nongshim, a beauty experience area from Jeong Saem Mool, AI-generated video screenings, and a K-pop dance challenge using AI technology. Attendees can experience K-food through food trucks operated by popular franchises like BBQ, as well as cooking demonstrations by renowned chefs, including Song Hoon, a judge from MasterChef Korea, and actor Ryu Soo-young, who will showcase dishes like flounder kimbap and flounder tacos, which are popular in the U.S. On May 24, K-pop performances will be held featuring singer Jay Park, the multinational K-pop group P1Harmony, and the rookie group LNGSHOT. Additionally, export consultations involving 63 content and beauty companies will take place on May 26 and 27. Kim Young-soo, the Vice Minister of Culture, stated, "This expo is significant as it aligns with the global event of the North America World Cup in the center of the world's entertainment industry, the U.S. We will continue to provide multifaceted support for K-Culture companies to expand into the North American market."* This article has been translated by AI. 2026-05-23 14:43:29

NS Home Shopping Launches 'Harmonious 39 Day' Special with Fixed Prices NS Home Shopping is targeting consumers with a special fixed-price broadcast aimed at alleviating price concerns amid a downturn in consumer sentiment. The company announced on May 22 that it will hold a special broadcast titled 'Harmonious 39 Day' on May 26 and 28 through its NS Shop Plus channel. This promotional event will feature designated products all priced at 39,900 won, designed to reduce decision fatigue and offer practical products at reasonable prices. The lineup will focus on popular food items. The broadcast on Tuesday, May 26, will showcase products such as 'Juwonsan Smoked Duck & Duck Slices,' 'Jeju Fresh Fern,' 'Im Seong-geun Special Beef Bone Soup,' and 'Im Seong-geun Internal Organ Soup.' On Thursday, May 28, the broadcast will feature 'Juwonsan Duck Slices for Eating,' 'Domestic Processed Flatfish (50 pieces),' and 'Im Seong-geun Beef Soup,' all of which have received positive consumer feedback on NS Shop Plus. Jeon Jeong-jin, head of the TC Food Team at NS Home Shopping, stated, "We are presenting various pricing benefits and product configurations to allow consumers to access practical products more easily. Since this 'Harmonious 39 Day' features popular items that have received good responses from consumers, we hope for a lot of interest." Additionally, NS Home Shopping recently introduced an artificial intelligence (AI) host during its May 20 broadcast of 'Practical Mackerel.' The 10-minute segment featured the AI host presenting product introductions and purchase points.* This article has been translated by AI. 2026-05-23 14:42:00

Kwangjang Law Firm Hosts 'Transfer Pricing Practical Forum' with Korean International Tax Association The Korean International Tax Association, recognized as the leading academic organization in international taxation, announced on May 22 that it will hold a monthly international tax forum on May 28 at 2 p.m. at Kwangjang Law Firm in Jung-gu, Seoul, focusing on the topic of "Recent Issues in Transfer Pricing Practice." This forum, organized by Kwangjang, aims to address international tax and transfer pricing issues faced by multinational corporations both domestically and internationally. Experts from academia, law firms, and accounting firms will discuss critical issues and provide practical advice for multinational companies. The opening remarks will be delivered by Professor Park Hoon, the chairman of the Korean International Tax Association and a faculty member in the Department of Taxation at the University of Seoul. The closing remarks will be given by Kim Jeong-hong, a foreign attorney and the next chairman of the association. The forum will consist of an urgent diagnosis session and two main sessions. In the urgent diagnosis session, Kwangjang foreign attorney Kang Kyu-bin will present on "California Corporate Tax Reform and Korean Companies." The first main session will take the form of a panel discussion on "Practical Trends in MAP and APA Related to Transfer Pricing." Kwangjang foreign attorney Kim Min-ho will moderate, with panelists including Jeon Hye-jin, a partner at Samil Accounting Corporation; Park Joo-won, an executive at Anjin Accounting Corporation; Park Jae-seok, an accountant at Kim & Chang Law Office; and Kim Sang-hoon, an executive at Samjeong Accounting Corporation. The second main session will focus on case studies related to the increasingly applied "DEMPE Regulations," with Kwangjang attorney Jo Pil-je presenting. Panelists will include Ha Dong-hoon, an executive at Han Young Accounting Corporation; Kim Tae-hyung, a foreign accountant at Yulchon Law Firm; and Heo Si-won, an attorney at Hwawoo Law Firm. The forum will conclude with closing remarks from Kim Jeong-hong, the next chairman of the Korean International Tax Association.* This article has been translated by AI. 2026-05-23 14:39:21