SK Group chairman attends GTC Taipei to solidify Nvidia partnership, discuss customized AI memory SEOUL, June 1 (AJP) - SK Group Chairman Chey Tae-won attended the GTC Taipei 2026 keynote on Monday, reinforcing the South Korean conglomerate's ongoing artificial intelligence (AI) infrastructure partnership with Nvidia. Accompanied by SK hynix CEO Kwak Noh-jung, Chey observed Nvidia CEO Jensen Huang's presentation, which outlined the U.S. chipmaker's "Vera Rubin" mass production roadmap and future AI platforms. This marks the third major engagement between the two executives this year, following meetings in Silicon Valley in February and at GTC San Jose in March. During his visit to Taiwan, Chey is scheduled to meet with industry partners to discuss SK hynix's strategy for next-generation AI memory. SK hynix, a primary supplier of High Bandwidth Memory (HBM) chips, is shifting its focus from supplying standard products to co-developing customized HBM (cHBM) solutions tailored to specific client architectures. To address the growing processing demands of advanced AI systems, SK hynix also plans to introduce new memory technologies in the future, including High Bandwidth Flash (HBF) and 3D Stacked DRAM on Logic. 2026-06-01 17:35:53

South Korean bond yields surge on hawkish BOK remarks amid lingering Middle East conflict SEOUL, June 1 (AJP) - South Korean government bond yields surged following a double blow of U.S. President Donald Trump's rejection of a draft peace memorandum of understanding with Iran and hawkish remarks from the Bank of Korea (BOK) governor. The local currency, in contrast, erased early losses to close slightly higher as a clearer path toward interest rate hikes cushioned the market. The three-year government bond yield rose 5.9 basis points to 3.790 percent, its highest level since November 2023, while the 10-year yield jumped 10.6 basis points to 4.174 percent, returning to levels last seen in late May. Earlier in the morning, BOK Governor Shin Hyun-song emphasized during a policy dialogue at the BOK International Conference that South Korea's economic growth momentum remains robust, expanding the central bank's room to respond to inflation. The comments triggered a massive sell-off in the fixed-income market as investors interpreted the remarks as a clear signal for upcoming rate hikes. "The growth is very strong here in Korea," Shin said. "First-quarter growth is super strong, especially when measured in terms of gross domestic income rather than gross domestic product." "It poses fewer impediments to adjusting monetary policy in light of inflation," Shin said, adding that it gives the central bank a lot more leeway to conduct monetary policy. The upward trajectory of bond yields was already anticipated, as optimism for peace dimmed after President Trump announced on Sunday that he would not sign the draft peace memorandum with Iran. South Korea, which relies on the Strait of Hormuz for nearly 70 percent of its total crude oil imports, suffered a heavier blow than other major economies; this geopolitical friction, compounded by the BOK governor's hawkish rhetoric, sent bond prices tumbling. Conversely, the local currency showed resilient strength, defying expectations of a synchronized drop. The won opened down 0.8 won at 1,508.8 won per dollar and breached the 1,510 mark intraday, but steadily recovered after the conclusion of the conference's morning session to close up 3.6 won at 1,504.3 won per dollar. Rate hike expectations following Shin's remarks were fully priced into the market, effectively offsetting the headwinds stemming from the uncertainties in the Strait of Hormuz. "The central bank's tightening stance appears to be supporting the local currency," a foreign exchange market official said on the condition of anonymity. 2026-06-01 17:34:47

Vietnam to Participate in Seoul Food 2026 to Expand Exports to South Korea Vietnam's major food and beverage companies, including Vinamilk, the country's largest dairy firm, will participate in the Seoul International Food Industry Exhibition (SEOUL FOOD 2026) from June 9 to 12 at KINTEX in Goyang, South Korea. This event comes as both countries aim to expand economic cooperation, targeting a trade volume of $150 billion by 2030. The exhibition is expected to serve as a platform for collaboration in the food and beverage sector between Vietnam and South Korea. On June 1, the Vietnam Trade Promotion Agency (VIETRADE) announced that it would send a delegation of Vietnamese companies to the SEOUL FOOD 2026 as part of its 2026 National Trade Promotion Program. The Seoul International Food Industry Exhibition, organized by the Korea Trade-Investment Promotion Agency (KOTRA), is one of Asia's leading food exhibitions and has been held annually since 1983. Last year, Vietnam showcased its culinary offerings under the theme "Food of VIỆTNAM" at the exhibition, introducing various Vietnamese dishes to South Korean consumers. This year, 28 Vietnamese food and beverage companies will participate, with a dedicated pavilion covering over 180 square meters. This initiative is part of Vietnam's key trade promotion efforts with South Korea, aimed at enhancing brand visibility, expanding export opportunities, and strengthening business collaborations with international buyers and global distribution networks. The pavilion will highlight the diversity and competitiveness of Vietnam's food and beverage industry while showcasing the achievements in high-value food development and processed food sectors to international buyers. Additionally, the Vietnamese delegation will include various agricultural and food processing export companies, such as Vinamilk, Westfood, Napuz, Big C Food, DH Food, WANA, and DACE. These companies will showcase a range of products, including dairy, processed fruits, health foods, spices, beverages, and agricultural products. They plan to highlight their product competitiveness in line with global trends in ESG (Environmental, Social, and Governance) management and sustainable consumption through eco-friendly production processes, sustainable raw material usage, and environmentally friendly packaging. A representative from VIETRADE stated, "We expect that participation in SEOUL FOOD 2026 will actively promote the excellence of Vietnam's food industry and create new business opportunities in the South Korean and global markets." The exhibition is anticipated to provide Vietnamese companies with opportunities to expand their distribution networks in South Korea and discover new trading partners, thereby strengthening their presence in the South Korean and global markets. It is also expected to play a positive role in expanding food trade between the two countries, leveraging the Korea-Vietnam Free Trade Agreement (VKFTA). Meanwhile, economic exchanges between South Korea and Vietnam have become closer following President Lee Jae-myung's visit to Vietnam in April, with both countries aiming to achieve a trade volume of $150 billion by 2030. As a result, the significant participation of major Vietnamese food and beverage companies in this exhibition is expected to further enhance economic cooperation in the food and beverage sector between the two countries. 2026-06-01 17:30:00

Food retailers launch BTS-themed products SEOUL, June 1 (AJP) - South Korean food companies Paldo and hy have launched 28 products under ARIH, a food and beverage brand themed with K-pop group BTS, the companies said Monday. Paldo is a South Korean instant noodle maker, while hy is a food and beverage company known for its probiotic products. The companies said BTS took part in the brand from the planning stage. ARIH is built around the concept of balance and health in everyday life. The brand name comes from a Korean word meaning "beautiful" or "graceful," with the final "H" standing for harmony, happiness and health. The lineup consists of three product categories: Modern Noodle, a stir-fried noodle product combining elements of pasta and ramen; Postbiotic Energy Drink; and Dual Biotic Soda, a low-sugar, low-calorie take on soda. The products were released in South Korea on Monday through hy's online mall hyFredit and Naver Smart Store. The companies plan to expand sales to other online marketplaces, convenience stores and major retail chains. ARIH first entered the overseas market through Walmart in the U.S. on April 24. The companies said the brand received a bestseller badge on Walmart's online store within three days of its launch, with some areas seeing temporary shortages due to strong demand. Paldo and hy plan to expand ARIH to additional markets, including Japan, Mexico and Canada. 2026-06-01 17:27:43

Calls for Transfer of North Korean Provinces Committee to Unification Ministry There is a growing call within the political sphere to transfer the North Korean Provinces Committee, currently under the Ministry of Interior and Safety, to the Ministry of Unification, aiming to consolidate operations and completely overhaul its functions. This discussion comes as North Korea rapidly shifts its approach to inter-Korean relations, emphasizing a 'state-to-state' framework, which has raised concerns about the committee's unclear identity and lack of real authority, leading to perceived budget waste. In a report published on May 27, the investigative team at Aju Economy examined the operational status of the North Korean Provinces Committee, highlighting issues such as late arrivals and allowances being paid near members' homes, reigniting debates about the committee's viability. Following this report, lawmakers have repeatedly argued that the committee's functions should be transferred to the Ministry of Unification to enhance effectiveness in light of changing inter-Korean relations. Notably, independent lawmaker Choi Hyuk-jin has been a strong advocate for this transfer. In an interview with the investigative team on June 1, Choi elaborated on the necessity of transferring the North Korean Provinces Committee to the Ministry of Unification. He previously pointed out during a National Assembly audit in December that restructuring such organizations could save over 10 billion won annually, suggesting that it would be more prudent to abolish the committee and transfer its responsibilities to the Ministry of Unification. Choi emphasized that the North Korean Provinces Committee has become largely ineffective. He noted, "The President recently called for restructuring budgetary allocations that are maintained without results, as well as formal and symbolic institutions. By that standard, the North Korean Provinces Committee should be the first to undergo serious review. Initially, there were governors for Hwanghae Province, South and North Pyongan Provinces, and South and North Hamgyeong Provinces, but these no longer align with the current administrative divisions in North Korea (Pyongyang Directly Governed City, three special cities, nine provinces), and the Ministry of Unification is already handling support for defectors and research in preparation for unification." He continued, "Given that access to North Korean regions is impossible, the committee lacks any real administrative authority. Therefore, I believe it is reasonable to abolish the North Korean Provinces Committee and transfer its duties to the Ministry of Unification." Some have argued that the North Korean Provinces Committee and the Ministry of Unification cannot merge due to their respective constitutional bases in Articles 3 (territorial clause) and 4 (peaceful unification clause). Choi countered this by stating, "These two clauses are complementary principles that together form South Korea's North Korea policy and unification policy." He added, "The North Korean Provinces Committee and the Ministry of Unification can be seen as addressing different aspects of this constitutional spirit. While some administrative adjustments may be necessary during the transfer of organizations or functions, I do not believe that the philosophies of the two institutions are fundamentally incompatible." Choi emphasized that this could serve as an opportunity to more organically connect and clarify the 'principle of legitimacy' and 'principle of peaceful unification' enshrined in the South Korean Constitution." To understand the backdrop of the strong calls for reform of the North Korean Provinces Committee, it is essential to consider its historical context. Established shortly after the government was formed in 1949, the committee originated from the concept of 'unrecovered territories' that emerged during the division at the 38th parallel and the Korean War. At that time, the Syngman Rhee administration recognized the entire Korean Peninsula as territory of the Republic of Korea and viewed the North Korean region as something that must be recovered eventually. The North Korean Provinces Committee was an administrative mechanism to implement this territorial awareness and unification orientation. Since then, it has officially undertaken tasks such as research and investigation of North Korean regions, promoting harmony and communication among North Korean residents, supporting the settlement of defectors, preserving intangible cultural heritage, and nurturing the next generation of leadership. To facilitate these efforts, it operates a large honorary position structure, including five vice-governors and honorary mayors, county heads, and township heads. However, as the division has persisted for over 70 years and inter-Korean relations have evolved, questions have been raised about whether the committee is fulfilling its original purpose. While there are calls for both abolition and transfer of the North Korean Provinces Committee in the political arena, some scholars express a more cautious perspective on the matter. Jeon Gap-saeng, director of the Cold War Peace Center at Sungkonghoe University, expressed in an interview with the investigative team on June 1 that the North Korean Provinces Committee, with its unique historical background, has become somewhat ineffective after enduring a long period of systemic competition. He noted that the general public finds it difficult to perceive the committee's actual activities, and it tends to operate as a formal position, akin to a 'reward appointment' following elections, depending on the administration in power. However, Jeon took a reserved stance regarding the proposal to transfer the North Korean Provinces Committee under the Ministry of Unification. He stated, "The basic unit of the North Korean Provinces is the 'province,' which is an administrative district. Moving it to the Ministry of Unification, without considering the inter-Korean exchange aspect, is challenging." He highlighted the limitations of approaching the issue without considering the historical context of an organization founded on territorial recognition. Jeon also pointed out the ambiguity in the current government's perception of North Korea. He noted the coexistence of views within the government that regard North Korea as 'two states' while officially not recognizing it as a state, suggesting that this may have political implications and considerations related to elections. Nevertheless, he remarked, "North Korea is showing a trend of thoroughly restructuring its relations with the South as a 'state-to-state' relationship while reorganizing its constitution and related organizations." He emphasized the need for South Korea to reassess its systems in light of these changes in North Korea. He concluded by stating, "It is essential to consider the constitutional amendment issue, the long-standing perception of division, and the sentiments of those whose hometowns are in the North. Abolishing the North Korean Provinces Committee in the short term may not be easy, but there is a need to gradually adjust the committee's role to align with the changed reality of inter-Korean relations."* This article has been translated by AI. 2026-06-01 17:27:00

Han Dong-hoon: 'I Will Rebuild Conservatism to Stop Lee's Administration' Han Dong-hoon, an independent candidate for the Busan North Gap parliamentary by-election, called the upcoming election a crucial and historic opportunity for the reconstruction of conservatism while appealing for last-minute support on June 1. During a press conference at his campaign office in Deokcheon-dong, Busan, Han stated, "We cannot continue to watch the regression of the Jang Dong-hyuk faction within the party." He emphasized, "Opportunities to rebuild conservatism do not come often, and not everyone can raise the banner of conservatism. The public sentiment will be confirmed through the June 3 election, and if I win and provide direction for the reconstruction of conservatism, no one will be able to reject that wind of change." Han also targeted his opponents, Ha Jung-woo of the Democratic Party and Park Min-sik of the People Power Party, saying, "President Lee Jae-myung has sent his avatar into this contest, and the regressive Jang Dong-hyuk faction is presenting Park as their avatar. We must overcome both Ha Jung-woo, Lee Jae-myung's avatar, and Park Min-sik, Jang Dong-hyuk's avatar, to secure the future of South Korea." He warned, "If the Democratic Party candidate wins, the Lee Jae-myung administration will certainly eliminate its own trials. Voting for Park is not just a wasted vote; it effectively means voting for Ha Jung-woo." Han urged, "Who else can prevent the reckless actions of the Lee Jae-myung administration, such as the cancellation of charges? I ask for your votes to help me shatter the reckless policies of the Lee administration." He concluded, "I will ensure that the priorities of Buk-gu become the top priority in Busan and in South Korea. No matter what happens, I will not leave Buk-gu. I will either win and survive here or lose and perish."* This article has been translated by AI. 2026-06-01 17:27:00

BTS to celebrates 13th anniversary with special event and concert in Busan SEOUL, June 1 (AJP) - K-pop super group BTS will host an event to mark the 13th anniversary of their debut, the group's agency BigHit Music said on Monday. The event named "BTS FESTA" is the group's annual celebration held around June 13, the date the septet debuted in 2013. This year's edition will run for about two weeks and coincide with the Busan leg of the group's "ARIRANG" world tour, scheduled for June 12 and 13 at Busan Asiad Main Stadium. The theme for this year's FESTA is "13(B)TS." BigHit Music said the title reflects the idea of adding a new "one" shared by BTS and its fandom ARMY to the group's 12-year journey, marking the start of a new chapter. The schedule begins Thursday with the release of a group photo shot under a family concept. On Friday, BTS will release a performance video for "Hooligan," a track from its fifth full-length album "ARIRANG." New episodes of the group's original variety content "Run BTS 2.0" will follow on June 10 and 11. On June 12, "Come Over," a new song previously available only on the deluxe vinyl edition of ARIRANG, will be released on major streaming platforms. Additional FESTA content will be released during the anniversary period, according to BigHit Music. 2026-06-01 17:23:17

KakaoBank Surpasses 50,000 Accounts for National Living Expense Account in 10 Days KakaoBank announced on June 1 that the number of accounts opened for its 'National Living Expense Account' has surpassed 50,000 just ten days after its launch.According to KakaoBank, six out of ten customers using the living expense account have linked it to the Friends Check Card. Customers who use the KakaoBank Friends Check Card can enjoy cashback benefits and free ATM withdrawal fees.The National Living Expense Account is available to anyone aged 14 and older and can only be opened at one financial institution. It is designed to allow deposits up to 2.5 million won per month, providing a secure way to protect essential living expenses. A base interest rate of 2% will be offered until the end of the year.The account also includes differentiated features for customer convenience. Each month on the first day, a new deposit limit is assigned, and customers are notified when the total limit of 2.5 million won is reached. Users can easily access transaction statements and balance certificates through the 'Certificate Issuance' menu in the app. 2026-06-01 17:21:00

Lee Jae-Yong Attends Samsung Ho-Am Prize Ceremony for Fifth Consecutive Year Lee Jae-Yong, Chairman of Samsung Electronics, attended the Samsung Ho-Am Prize ceremony for the fifth consecutive year, encouraging this year's awardees.The Ho-Am Foundation held the 36th Samsung Ho-Am Prize ceremony on June 1 at the Dynasty Hall of the Shilla Hotel in Jung-gu, Seoul. Approximately 270 attendees included this year's winners, their families, friends, and Samsung executives.Dressed in a black suit, Lee entered the venue quietly without making any remarks. This marks his fourth consecutive attendance since becoming chairman, reflecting his commitment to the 'people first' philosophy emphasized by his late father.A significant number of Samsung executives were present at the ceremony, including Jeon Young-Hyun, Vice Chairman of Samsung Electronics' Device Solutions (DS) division; Noh Tae-Moon, President of the Device Experience (DX) division; and Park Seung-Hee, President of Samsung Electronics, along with over 50 other executives from Samsung and its affiliates.The event began with remarks from Kim Hwang-Sik, Chairman of the Ho-Am Foundation, followed by a report from the judging chair, award presentations, acceptance speeches, and congratulatory remarks from Yoo Hong-Rim, President of Seoul National University. This year, Sven Lidin, President of the Royal Swedish Academy of Sciences, also attended the ceremony.This year's awardees include: △ Science Prize in Physics and Mathematics: Oh Sung-Jin (37), Professor at UC Berkeley; △ Science Prize in Chemistry and Life Sciences: Yoon Tae-Sik (51), Professor at the University of Wisconsin-Madison; △ Engineering Prize: Kim Bum-Man (79), Emeritus Professor at POSTECH; △ Medical Prize: Eva Hoffman (51), Professor at the University of Copenhagen; △ Arts Prize: Jo Su-Mi (63), Soprano; and △ Community Service Prize: Oh Dong-Chan (58), Head of the Medical Department at the National Sorokdo Hospital.Each awardee received a certificate, a medal, and a cash prize of 300 million won, totaling 1.8 billion won.In his remarks, Kim Hwang-Sik expressed, "It is a great joy and pride to welcome the awardees who have achieved the honor of the Ho-Am Prize through their outstanding contributions. We celebrate the meaningful achievements of the awardees who have contributed to the advancement of science, technology, and culture, and who strive to create a warmer world through their creative wisdom, academic passion, and strong spirit of service."The Samsung Ho-Am Prize was established in 1990 by the late Lee Kun-Hee, former chairman of Samsung, to honor the 'people first' and social contribution spirit of Samsung's founder, Lee Byung-Chul. It is awarded annually to individuals who have made significant contributions to academia, the arts, and social development for the betterment of humanity. With this year's 36th ceremony, a total of 188 awardees have received 37.9 billion won in prize money.* This article has been translated by AI. 2026-06-01 17:18:00

Daesang Participates in Thailand Food Expo, Aiming for 1 Trillion Won in Southeast Asia Sales Daesang has launched an integrated brand booth at THAIFEX-Anuga 2026, Asia's largest food trade fair, held in Bangkok, Thailand, to expand its presence in the Southeast Asian market.From May 26 to 30, Daesang showcased its Kimchi brand Jongga, global food brand Ofood, and Indonesian local brand Mama Suka at the event.THAIFEX-Anuga is the largest food trade fair in Asia, featuring over 3,300 companies from 60 countries this year.At the fair, Daesang operated a unified brand booth for Jongga, Ofood, and Mama Suka. More than 13,000 visitors attended Daesang's booth, where the company engaged in export consultations with global buyers, exploring opportunities to expand its local distribution network.The company noted that major Southeast Asian buyers, including CP Extra's Macro and Lotus, as well as Big C and Tops, visited the booth to discuss entry and distribution strategies.Daesang also conducted tasting programs reflecting local food culture. The company presented a 'Seafood Salad with Jongga Flavored Kimchi' produced at its factory in Vietnam. Additionally, it introduced 'Hot Lava Chicken Stir-fry' using 'Ofood Cup Tteokbokki,' which is popular among the MZ generation in Southeast Asia, and 'Mama Suka Hot Lava Sauce,' certified halal in Indonesia.Building on the network established at the fair, Daesang plans to expand its business in Southeast Asia. The company aims for a combined revenue of 1 trillion won from its Southeast Asian subsidiaries by 2030.Im Jeong-bae, CEO of Daesang, stated, "We will lead the way in enhancing the status of K-food by presenting products that harmonize with global food culture based on Daesang's localization strategy."In the first quarter of this year, Daesang reported an operating profit of 57 billion won, a 0.4% increase from the same period last year, while sales fell by 1.8% to 1.11 trillion won.* This article has been translated by AI. 2026-06-01 17:18:00