Celanese Closes Ulsan Plant Amid Middle East Conflict U.S. specialty materials and chemical company Celanese has decided to close its Ulsan plant due to the impact of the ongoing conflict in the Middle East. According to reports from the Financial Times and other outlets on June 4, Celanese announced that it would immediately halt all production and operations at the Ulsan facility. The company plans to transfer production to its plants in Nanjing and Shenzhen, China, as well as to its facility in Silvassa, India. This move is part of Celanese's 'Grow & Fortify' strategy aimed at increasing production flexibility. The decision follows a surge in crude oil prices, which are essential raw materials for chemical products, due to the recent Middle East conflict. Celanese's first-quarter results, released last month, fell short of expectations, contributing to a more than 20% drop in its stock price to date. In response, Celanese announced price increases for key products in April and May. Last month, the company also revealed plans to operate its Singapore plant only until the end of July before closing it. Celanese, which produces key products such as PET (polyethylene terephthalate), PA (polyamide), PBT (polybutylene terephthalate), HTN (high-heat nylon), and polymers, is one of the world's leading chemical manufacturers, employing approximately 11,000 people globally. The company reported revenues of about $9.5 billion in 2025.* This article has been translated by AI. 2026-06-05 10:42:00

Michelle Steel's nomination as US ambassador to S. Korea clears Senate panel SEOUL, June 05 (AJP) - Michelle Steel, U.S. President Donald Trump’s nominee for ambassador to South Korea, has cleared a key Senate committee, leaving only a final confirmation vote before the full Senate. The Senate Committee on Foreign Relations voted 14-8 on Thursday to advance Steel’s nomination, moving her one step closer to taking up the post in Seoul. If confirmed by the Senate, Steel will receive her formal appointment from Trump before assuming the ambassadorial post. Steel was nominated on April 13, and her Senate confirmation hearing was held on May 20. The process has moved relatively quickly, compared with cases in which nominees have waited months for confirmation hearings after being tapped by the president. At her confirmation hearing, Steel emphasized the need for a strong trilateral alliance among South Korea, the U.S. and Japan. Her use of the word “alliance” drew attention, as relations among the three countries are more commonly described as cooperation or coordination, unlike the formal alliances between Seoul and Washington and between Washington and Tokyo. If confirmed, Steel would become the second Korean American to serve as U.S. ambassador to South Korea, following Sung Kim, who served in Seoul from 2011 to 2014. Steel, a Republican, served in the U.S. House of Representatives for four years from 2021 before narrowly losing her reelection bid in November 2024. The ambassadorial post in Seoul has remained vacant since Philip Goldberg, who was appointed under the Biden administration, left the post in January last year. 2026-06-05 10:27:17

ITCEN Group to Showcase AI Solutions at Smart Tech Korea 2026 ITCEN Group announced on June 5 that it will participate in Smart Tech Korea 2026 (STK 2026), the country's largest technology exhibition, held from June 10 to 12 at COEX in Seoul. The group will introduce advanced AI governance and infrastructure resilience architecture that breaks down technical barriers among its subsidiaries. The group will showcase its "Enterprise AI Full-Stack Solution," which consolidates the IT architecture and software engineering capabilities of its subsidiaries. This initiative aims to provide strategies for companies considering the implementation of generative AI to address the challenges of soaring costs and infrastructure dependency. During the event, ITCEN Group will present a practical integrated architecture that industry professionals can assess firsthand. The presentation will move away from mere technological optimism or scenario-based demonstrations, instead highlighting the core technological capabilities of its key subsidiaries, including ITCEN CTS, ITCEN Cloud, and CPlatform. The group plans to propose methods for controlling the indiscriminate adoption of agents and rising costs. Many companies currently face financial risks due to the use of "shadow AI," where departments independently call external APIs, and the operational costs of multi-agent systems that exceed control limits. ITCEN Cloud will introduce its enterprise multi-AI agent management platform, "AgentGo 2026," as a practical solution. This platform will demonstrate its ability to prevent resource waste and control data leakage risks through a robust governance dashboard. Additionally, the group will assess whether companies have secured infrastructure sovereignty without dependency on specific global vendors. Changes in exclusive licensing policies from major tech companies and rising total cost of ownership (TCO) for GPU infrastructure pose threats to corporate sustainability. Many companies are considering a shift to open-source solutions, but technical debt and operational overhead remain significant obstacles. CPlatform will highlight its open-source-based enterprise data platform, "EDB Postgres AI." This platform implements a high-performance hybrid architecture that processes real-time transactions (OLTP) and AI analytics (OLAP) through a single engine, enabling companies to secure data sovereignty without vendor dependency and build a safe, cost-effective on-premises sovereign AI environment. The group will also address whether AI services can maintain continuity in complex microservices architecture (MSA) and virtualization environments. As generative AI services become more widespread, the complexity of backend MSA and Kubernetes distributed infrastructure increases, leading to heightened risks of data bottlenecks and service interruptions. ITCEN CTS aims to resolve these issues as an AI infrastructure orchestrator. From designing architectures optimized for high-performance AI workloads to establishing high-speed computing environments for large-scale data processing, the group will coordinate all aspects of AI infrastructure. This includes integrating on-premises, multi-cloud, and high-performance computing (HPC) resources while minimizing operational overhead, allowing companies to focus on creating AI business value. ITCEN Group will avoid simple scenario-based demonstrations at the exhibition, instead proving how its practical architecture can defend against and recover from complex edge cases and system overloads that may arise in real enterprise business settings. An ITCEN Group representative stated, "The current AI market has entered an 'engineering-centric era' where companies must secure verified infrastructure control and financial sustainability. This event will showcase how the technological capabilities of ITCEN Group's subsidiaries can address corporate technical debt while providing the safest and most efficient AI execution pathways." In preparation for the launch of its full-stack solution, ITCEN Group has restructured its business model over the past year. It has established a "Team ITCEN" system where each subsidiary operates as a single entity. To eliminate technical and sales barriers among subsidiaries, ITCEN Group has implemented a "group integrated sales" system, allowing it to propose the unique expertise of each entity—cloud (ITCEN Cloud), data platform (CPlatform), and infrastructure architecture (ITCEN CTS)—through a single point of contact.* This article has been translated by AI. 2026-06-05 10:27:00

Iljin Electric Signs $621 Million High-Voltage Cable Supply Contract in Malaysia Iljin Electric announced that it has signed a contract to supply approximately $621 million worth of 275kV high-voltage cables for data centers in Malaysia, covering a total length of 54 kilometers. This marks Iljin Electric's fifth contract to supply high-voltage cables to data centers in Malaysia and is the largest order since the company entered the Malaysian cable market. An official from Iljin Electric stated, "We are continuously increasing our overseas orders for high-voltage cables and are working hard to secure more international contracts based on projects in the Southeast Asian market. We can supply both high-voltage transformers and circuit breakers, as well as high-voltage cables, which will contribute to our growth." As Malaysia is actively promoting the attraction of data centers as a national policy, significant long-term demand is expected. The Iljin Electric official added, "We plan to use this large order as a stepping stone to pursue ongoing high-voltage cable contracts for data centers." Additionally, Iljin Electric recently signed a contract worth approximately $1.086 billion with the Singapore Power Authority for high-voltage cable supply in May. The company recorded its highest-ever performance last year, and it is anticipated that the momentum will continue this year due to orders for data center-related products.* This article has been translated by AI. 2026-06-05 10:24:00

Police disperse protesters, secure ballot boxes after election day disruption in Seoul SEOUL, June 5 (AJP) - Police on Friday dispersed protesters from a polling station in southern Seoul after a days-long standoff over the removal of ballot boxes following shortages in ballot papers that disrupted voting during Wednesday's local elections. More than 1,000 police officers were mobilized to the polling station in Jamsil, Seoul's Songpa district, from around 7:30 a.m. to secure two ballot boxes that had remained inside the polling station for more than 35 hours after voting ended, leaving roughly 2,000 ballots uncounted. The standoff stemmed from a shortage of ballot papers at several polling stations in southern Seoul on election day, which extended voting beyond closing time and left some voters unable to cast their ballots. The ballot boxes could not be transferred to a counting center after protesters gathered outside the polling station, demanding an investigation into the ballot shortage and accountability from election officials. Some demonstrators also raised allegations of election fraud. These protesters initially consisted largely of affected voters and local residents seeking an explanation for the disruption, but the crowd swelled as politicians and YouTubers raising allegations of election fraud joined in. Police estimated that as many as 1,300 people had gathered at the site by Thursday night. As protesters ignored repeated orders to disperse and blocked the removal of ballot boxes, police forcefully entered the polling station and secured the boxes. Minor clashes were reported during the operation, and authorities warned that interfering with election officials or police could lead to criminal punishment. Minor clashes were reported between the two sides, while authorities warned that interfering with election officials or police could result in criminal charges. The NEC said the secured ballot boxes would be moved to a counting location to finalize results in the affected districts. 2026-06-05 10:22:29

Won-Dollar Exchange Rate Surges to 1540 Won Amid Foreign Stock Sell-Off The won-dollar exchange rate continues to show strength in the 1500 won range. As of 10:08 a.m. on June 5, the exchange rate in the Seoul foreign exchange market stood at 1543.8 won per dollar, down 0.7 won from the previous session's close of 1529.0 won. This marks the first time the rate has exceeded 1540 won during trading since March 10, 2009, when it reached 1561.0 won. The rate hit the 1540 won mark during overnight trading, reaching its highest level since the global financial crisis. Although it opened lower today, ongoing foreign net selling in the domestic stock market appears to be exerting upward pressure on the exchange rate. At the same time, foreign investors sold a net 15.21 trillion won in the securities market, contributing to a decline in the index. In the previous night’s trading, U.S. stocks showed mixed results. The Dow Jones Industrial Average closed up 874.86 points, or 1.73%, at 51,561.93. The S&P 500 index rose by 30.63 points, or 0.41%, to close at 7,584.31, while the Nasdaq Composite Index fell by 23.02 points, or 0.09%, ending at 26,830.96. International oil prices declined after Israel and Lebanon agreed to implement a ceasefire. August futures for Brent crude settled at $95.03 per barrel, down 2.8%, while July futures for West Texas Intermediate (WTI) crude closed at $93.04 per barrel, a decrease of 3.1%. Min Kyung-won, an economist at Woori Bank, stated, "Today, the won-dollar exchange rate is expected to attempt to stabilize in the 1530 won range, driven by foreign net selling triggered by profit-taking in semiconductor stocks. The semiconductor rally has shown signs of slowing following Broadcom's earnings report, which could lead to continued outflows of foreign capital from the domestic market known as memory trades." He added, "This selling is more than just profit-taking; it has a strong rebalancing nature, which is increasing demand for foreign remittances in the foreign exchange market, causing ongoing upward pressure on the exchange rate. If the symbolic level of 1530 won is breached, speculative buying could further contribute to a weakening of the won."* This article has been translated by AI. 2026-06-05 10:15:00

Shin Young Securities Shares Surge Over 9% Following Buyback Announcement Shin Young Securities has seen its shares rise by over 9% in early trading following the announcement of a significant share buyback plan. According to the Korea Exchange, as of 9:58 a.m., Shin Young Securities shares were trading at 206,500 won, up 18,100 won (9.61%) from the previous trading day. Investor sentiment has been buoyed by expectations that the large-scale buyback will enhance earnings per share (EPS) and shareholder value. The company announced on June 4 that it will hold its 72nd annual general meeting on June 19, where it will discuss plans for the buyback and utilization of 8.42 million shares currently held. Of these, 5,262,283 shares will be retired within the timeframe stipulated by corporate law. This represents 32.01% of the total issued shares and 62.48% of the treasury shares. Based on the previous day's closing price, the buyback is valued at approximately 999 billion won. The remaining 3.16 million shares will be retained for future shareholder returns and employee performance compensation. Additionally, the company plans to increase its dividend. For the current fiscal year, Shin Young Securities has set the dividend for common stock at 7,500 won per share, an increase of 2,500 won from the previous year. The total dividend payout will exceed 20 billion won, meeting the criteria for high-dividend companies, allowing shareholders to benefit from separate taxation on dividend income. 2026-06-05 10:15:00

Hanwha Aerospace Opens Memorial for Victims of Daejeon Explosion Hanwha Aerospace announced on June 5 that it has established a memorial service for the five victims of the Daejeon explosion at ten locations nationwide. The memorials will be open from 9 a.m. to 6 p.m. daily until June 25. Locations include the Hanwha Building in Janggyo-dong, Seoul, as well as facilities in Changwon (Sites 1, 2, and 3), Asan, Daejeon, the Daejeon R&D Center, Boeun, Yeosu, and the Pangyo R&D Center. A Hanwha Aerospace representative expressed condolences, stating, "We extend our deepest sympathies to the families of the victims and have created this memorial space for all employees to pray for the souls of the deceased." In the wake of the incident, Hanwha Aerospace has suspended production lines, excluding essential processes, and has initiated special safety inspections and training. Following the explosion, Hanwha Group and Hanwha Aerospace released a statement expressing their sorrow, saying, "We are heartbroken and saddened by the loss of our five valued employees. We offer our deepest condolences and heartfelt sympathies to the families of the deceased."* This article has been translated by AI. 2026-06-05 10:12:00

Krafton's Subnautica 2 unveils update roadmap shaped by player feedback SEOUL, June 05 (AJP) - Krafton's creative studio Unknown Worlds released its eighth developer vlog for "Subnautica 2," outlining short- and long-term update plans drawn from global player feedback after the underwater survival sequel's early-access launch on May 14. In the video, lead designer Anthony Gallegos detailed recent hotfix results and a roadmap that promises richer resource deposits and rebalanced predator attacks, changes aimed at sharpening the game's exploration and survival experience in response to community input. The studio said upcoming smaller updates will expand the Biomods adaptation system with additional passive slots and new early-game survival options, while proximity voice chat, emotes and character customization are in development for multiplayer. A larger content drop will open a new region inhabited by the towering Collector Leviathan and introduce fresh vehicles. "Player feedback and voices are the most important signpost showing the direction Subnautica 2 should take," said Fernando Melo, executive producer, adding that the studio would continue an open-development approach that places user opinion first. Developed by Unknown Worlds, founded by Charlie Cleveland and Max McGuire, "Subnautica 2" is the direct successor to the genre-defining "Subnautica" series, built on Unreal Engine 5 and offering up to four-player co-op for the first time across Steam, the Epic Games Store and Xbox Series X|S. 2026-06-05 10:09:20

June Mock Exam Concludes, College Admissions Golden Time Begins The June mock exam, a precursor to the 2027 College Scholastic Ability Test (CSAT), has concluded, marking the beginning of serious college admissions strategy planning for students. This mock exam, organized by the Korea Institute for Curriculum and Evaluation, serves as a benchmark for assessing the difficulty and trends of the actual CSAT, drawing significant attention from students as it influences their approach to both early and regular admissions. According to reports from the education sector on June 5, a total of 488,343 students registered for this June mock exam, with 96,931 repeat students, accounting for 19.8% of the total. Their presence is expected to have a considerable impact on the results. This year's exam is particularly significant as it represents the last opportunity for current students to take the CSAT under the existing elective subject system before the 2028 admissions reform. As a result, the dynamics of subject selection and the phenomenon of students gravitating towards social studies are likely to be more pronounced than in previous years. With the strong presence of repeat students, current students may face tighter cutoff scores, necessitating a focus on objective analysis rather than getting overly concerned with immediate raw scores. Consequently, students should conduct a thorough review of their exam performance immediately after receiving their scores, categorizing mistakes into three clear areas: lack of knowledge, simple errors, and misunderstandings. Additionally, even before receiving their score reports on July 1, students should analyze their cumulative scores since March to assess their competitiveness for the CSAT and proactively identify potential universities for regular admissions. Students focusing on early admissions should also use the results of this mock exam to critically evaluate their chances of meeting the minimum CSAT score requirements for their target universities and should aim to identify at least ten potential candidates for early admissions early on. Moving forward, students must choose tailored study strategies that align with their current performance levels. For those in the top 1-2 grade range, the focus should be on understanding the rationale behind incorrect answers and establishing connections between concepts, rather than merely increasing the volume of practice problems. For students in the 3-4 grade range, it is essential to secure a solid grasp of medium-difficulty questions to avoid losing points on easier ones, while also revisiting key concepts. For those scoring below 5, mastering fundamental terms and basic concepts from textbooks is the quickest route to improving scores. Admissions experts advise that the results of the June mock exam should not be viewed as final scores but rather as a valuable diagnostic tool for addressing weaknesses during the summer break. Kim Byeong-jin, head of the Education Evaluation Research Institute at Etoos, emphasized that early admissions do not guarantee acceptance, and maintaining a study routine that includes CSAT preparation during the early admissions period is crucial. He noted that the remaining five months provide ample time to improve scores, urging students to stop comparing themselves to others and to give their best effort until the end. Jin Hwan-cheol, head of the Admissions Strategy Research Institute at Jinhaksa, stated, "The June mock exam is not a predictor of CSAT scores but a means to assess one's current standing." He advised that for students considering universities with minimum score requirements, it is advisable to prioritize CSAT study after final exams. Lee Man-ki, head of the Education Evaluation Research Institute at Yuhak, echoed this sentiment, stressing that the true purpose of the June mock exam is to confirm one’s national standing and to determine what to prioritize during the summer break.* This article has been translated by AI. 2026-06-05 10:09:00