Emart Plans 500 Billion Won Capital Increase for Shinsegae Construction Emart is moving forward with a capital increase of 500 billion won for its subsidiary, Shinsegae Construction. According to a filing with the Financial Supervisory Service on May 14, Emart will participate in the capital increase through cash and asset contributions. The cash contribution will amount to 240 billion won (48%), while the asset contribution will be 260 billion won (52%). The assets being contributed include land and buildings owned by Emart at the Myungil branch. Emart will provide these assets in exchange for newly issued shares from Shinsegae Construction. Shinsegae Construction plans to issue 10 million common shares at a price of 50,000 won per share. Emart, as the major shareholder, will fully subscribe to the new shares. The payment deadline for the new shares is set for June 25. An Emart representative stated, "This decision aims to enhance financial structure and secure management stability through increased construction capital, thereby boosting market confidence and enabling stable business operations in the future." In related news, Emart reported a consolidated operating profit of 178.3 billion won for the first quarter, an 11.9% increase compared to the same period last year. Although net sales decreased by 1.3% to 7.1234 trillion won, profitability showed significant improvement. This marks the highest first-quarter operating profit since 2012. On a standalone basis, operating profit also rose by 9.7% to 146.3 billion won, achieving the highest first-quarter figure in eight years since 2018. Standalone total sales increased by 1.9% to 4.7152 trillion won.* This article has been translated by AI. 2026-05-14 20:13:58

Supreme Court Rules Semiconductor Purification System Technology is Industrial Technology The Supreme Court has determined that the technology for an eco-friendly ultra-pure water system used in semiconductor manufacturing qualifies as industrial technology. Therefore, leaking related materials constitutes a violation of the Industrial Technology Protection Act.On May 14, the Supreme Court's second division, led by Justice Kwon Young-jun, overturned a lower court's three-year prison sentence for an individual identified as A, who was charged with violating the Industrial Technology Protection Act and the Unfair Competition Prevention Act, as well as breach of trust.A, who was responsible for managing the construction of the ultra-pure water system at Samsung Engineering (now Samsung E&A), was accused of leaking files containing design templates that automatically calculate optimal parameters for the ultra-pure water system, control logic for automation, operational conditions, and interlock information. This was done in preparation for his move to a Chinese semiconductor consulting firm.Despite submitting a confidentiality agreement regarding the specifications and design documents of the ultra-pure water system, A allegedly retained these documents instead of returning or destroying them, leading to charges of violating the Unfair Competition Prevention Act. He was also accused of causing financial damage to Samsung Engineering by leaking these documents for personal gain.Both the first and second trials found A guilty of all charges except for the violation of the Industrial Technology Protection Act, sentencing him to three years in prison.The court stated regarding the Industrial Technology Protection Act violation, "The evidence submitted by the prosecution does not sufficiently establish that the design and construction technology for the ultra-pure water system used by the victim company falls within the scope of advanced technology as defined by the Ministry of Trade, Industry and Energy at the time of the incident."The Ministry's guidelines categorize advanced technologies and products, and the technology in question was claimed to be part of the 'plant engineering sector' under 'water resources (major category)/desalination (middle category)/membrane separation (sub-category)/optimal design technology for high-efficiency RO systems.' The key issue in the appeal was the interpretation of the middle category 'desalination.'The second trial explained, "The meaning of 'desalination' in the middle category refers to freshwater produced from seawater desalination, thus interpreting the 'optimal design technology for high-efficiency RO systems' as detailed technology related to seawater desalination. However, the technology in this case pertains to producing ultra-pure water for semiconductors from industrial water, which is unrelated to 'optimal design technology for high-efficiency RO systems' concerning seawater desalination."However, the Supreme Court found that the lower court erred in its judgment of not guilty regarding the Industrial Technology Protection Act, stating, "The lower court misunderstood the legal principles regarding the scope of 'technologies that fall under advanced technology' as defined by the old Industrial Technology Protection Act and the Industrial Development Act."The court further elaborated, "Considering the legislative purposes of the Industrial Development Act and the old Industrial Technology Protection Act, the general meanings and usages of 'freshwater' and 'desalination,' and the potential impact of this technology on the development, production, distribution, or use of products or services related to 'optimal design technology for high-efficiency RO systems,' the meaning of 'freshwater' in the middle category includes not only cases where the treated water's purpose is 'freshwater' but also cases where the source water is freshwater."* This article has been translated by AI. 2026-05-14 20:12:16

AI and Big Data Essential for Drug Development, Says Jeong Yoon-taek "High-quality data is essential for successful drug development," Jeong Yoon-taek, head of the Pharmaceutical Industry Strategy Research Institute, stated on May 14 at the 16th Global Healthcare Forum (2026 GHF) held at the Korea Press Center in Seoul. He emphasized the need for a transition to an AI-driven pharmaceutical industry. During his presentation, Jeong noted that the pharmaceutical and biotech sectors are entering the 'Pharma 5.0' era. He explained that the industry is facing challenges such as declining productivity in drug development and the expansion of next-generation modalities, making it difficult to maintain competitiveness with traditional development methods. "Without vast amounts of high-quality data, AI models cannot learn or predict effectively," he said, adding that the principle of 'capturing data to capture new drugs' is a key challenge in the era of AI drug development. Jeong highlighted the rapid changes in the drug development paradigm. In the past, candidate substances were identified primarily through researchers' experience and repetitive experiments. Now, the industry is shifting towards using extensive big data, including genomic, clinical, and literature data, with AI playing a crucial role in identifying candidate substances and optimizing clinical strategies. He also discussed the evolution of AI technology, which has progressed from rule-based systems to deep learning and generative AI, and is now advancing into autonomous AI and quantum technology integration. Previously, drug candidates were designed through computer-based virtual experiments, but now, laboratories are expanding to include robotic automation for actual substance synthesis and validation. Jeong stated that the increased use of AI is improving the efficiency of drug development. The introduction of AI-based predictive models and automation technologies is expected to shorten clinical trial durations, reduce development costs, and accelerate commercialization. "AI is not just speeding up research; it is transforming the entire drug development value chain," he said, noting that the use of AI is expanding from candidate discovery to preclinical, clinical, production, and distribution stages. He also pointed out the strategic shifts among global pharmaceutical giants. These companies are accelerating collaborations and mergers with AI-based platform firms, competing to build open ecosystems centered around data and platforms. He observed a shift from traditional vertically integrated structures to expertise-based network models in the industry. In contrast, Jeong criticized the limitations of the domestic AI drug development ecosystem. He noted that investments in South Korea are still heavily focused on early-stage candidate discovery, exacerbating the 'death valley' issue where foundational AI technologies fail to transition into medical practice. Many companies are struggling at the commercialization stage due to a lack of organic connections between funding, data, and validation systems. Jeong emphasized that the key to competing in AI drug development is ultimately data competitiveness. He stressed the importance of alleviating data monopolies among companies and establishing collaborative utilization systems. He cited the 'MELODI' case and collaborative learning models, stating, "We need to cultivate specialized talent, introduce standardized contract systems, and foster global partnerships. The government must also establish continuous support systems."* This article has been translated by AI. 2026-05-14 20:08:59

Special Prosecutor Summons Kwak Jong-geun as First Suspect in Military Coup Investigation The second Comprehensive Special Investigation Team, led by Special Prosecutor Kwon Chang-young, summoned former Special Warfare Commander Kwak Jong-geun on May 14 as a suspect in connection with the state of emergency declared on December 3. This marks the first time the special prosecutor has summoned Kwak as a suspect.The special prosecutor's team is currently investigating Kwak regarding charges of rebellion under the Military Criminal Act, having called him in for questioning at 2 p.m. On March 3, Kwak appeared before the Comprehensive Special Investigation as a witness.Kwak is accused of sending subordinate soldiers to the National Assembly and the National Election Commission to incite riots during the declaration of the state of emergency.The special prosecutor has also implicated former President Yoon Suk Yeol, former Defense Minister Kim Yong-hyun, and former Director of the Defense Intelligence Command Noh Sang-won in rebellion charges. This is interpreted as the special prosecutor's view that deploying military personnel to state institutions such as the National Assembly constitutes rebellion against the state.However, it remains uncertain whether the special prosecutor can bring these charges to trial.Previously, the Prosecutor's Special Investigation Unit had considered applying rebellion charges against former President Yoon but ultimately decided against it, citing difficulties in prosecution. It was reported that the rationale was that 'it is difficult to apply rebellion charges since the incident involved Yoon, the military commander, as the leader of the insurrection.'Both Yoon and Kim have refused to comply with the special prosecutor's summons, arguing that it constitutes a double investigation of the same case for which they are already facing insurrection charges.* This article has been translated by AI. 2026-05-14 20:07:33

Pharos AI Bio CEO Nam Ki-yeob: AI Era in Drug Development Enhances K-New Drug Success Rates Artificial intelligence (AI) is transforming drug development from a race for speed to a competition for success rates. The technology has evolved to not only identify candidate substances more quickly but also to filter out toxic risks in advance and derive optimal drug candidates. South Korea's AI drug development company, Pharos AI Bio, is accelerating the development of treatments for rare and intractable diseases and expanding into next-generation modalities with its proprietary platform.Nam Ki-yeob, CEO of Pharos AI Bio, explained at the 16th Global Healthcare Forum (2026 GHF) held on May 14 at the Korea Press Center in Seoul, that "AI drug development has entered the era of 'agent AI,' where it can now formulate hypotheses and make decisions after going through computer-based drug design, machine learning, and deep learning stages."Major domestic bio companies are actively responding to this global change based on their own platforms in the AI era. Pharos AI Bio's core competitive advantage lies in its self-developed AI platform, Chemiverse.Chemiverse is a platform that supports the entire drug development cycle by combining proteomics AI with generative model-based candidate substance design technology, based on multi-omics big data. It addresses the inefficiencies and high costs associated with drug development, covering everything from target discovery to candidate substance design, lead optimization, and the establishment of preclinical and clinical strategies.Nam stated, "The success rate of our pipeline using the AI platform from Phase 1 to Phase 2 clinical trials reaches 87.5%." This reflects a reduction in the high failure rate, a fundamental challenge in drug development, through data and predictive technology. He added, "By combining a strategy focused on rare and intractable diseases with biomarker-based patient selection and open innovation, we are enhancing the likelihood of success in drug development."A notable example of the company's AI application is the acute myeloid leukemia (AML) treatment, Rasmotinib (PHI-101). This candidate substance is a FLT3 inhibitor developed for patients who do not respond to or are resistant to existing treatments. Nam remarked, "Rasmotinib has achieved a 50% complete response rate in global Phase 1 clinical trials, emerging as a new hope for patients resistant to standard therapies." He added that they are pushing for early commercialization through entry into Phase 2 trials, conditional sales approval, and technology transfers.Additionally, the company plans to expand into next-generation modalities such as antibody-drug conjugates (ADCs) and targeted protein degraders (TPDs) based on Chemiverse. They aim to broaden the scope of drug development by combining structure-based chemical design capabilities with specialized experience in rare and intractable targets and core structural big data.Nam emphasized the importance of building competitiveness through in-house drug development, stating, "AI has evolved from a simple tool to an intelligent partner that supports decision-making throughout the entire drug development process." He further stressed that in the AI era, K-bio's success will depend not just on identifying good drug candidates but also on how well data is accumulated and interpreted to connect with the global value chain. A full value chain strategy that supports technology validation, capital acquisition, and global expansion is essential for the competitiveness of K-new drugs to become a reality.Finally, Nam reiterated, "Pharos AI Bio will continue to strengthen its research and development competitiveness in innovative drugs for rare and intractable diseases and in various modality areas such as ADCs and TPDs based on Chemiverse."* This article has been translated by AI. 2026-05-14 20:05:28

K-Bio's Global Value Chain Strategy: Harnessing AI and Big Data The use of artificial intelligence (AI) in drug development is rapidly expanding, enhancing research and development (R&D) efficiency while reducing risks of failure. This shift is also reshaping the industry structure, with global pharmaceutical giants increasingly engaging in licensing and mergers and acquisitions (M&A). K-Bio is at a pivotal moment, needing to establish a full value chain that connects technology validation, capital acquisition, and global expansion. The ability to secure and utilize AI-driven big data has emerged as a critical factor for global competitiveness. Experts suggest that companies need to integrate data across the entire cycle, from candidate substance discovery to clinical design, patient data analysis, and production optimization. Aju Economy held the 16th Global Healthcare Forum on May 14 at the Korea Press Center in Jung-gu, Seoul. The forum focused on the theme of "AI Revolution: K-Bio's Global Value Chain Strategy," discussing the structural changes AI has brought to the pharmaceutical and bio industries and the necessary responses moving forward. Attendees included lawmakers such as Han Ji-a from the People Power Party and Park Hee-seung from the Democratic Party, as well as Ahn Young-jin, Director of the Bio and Pharmaceutical Safety Bureau, and Lee Jae-guk, Vice President of the Korea Pharmaceutical and Bio Association, who participated in person or via written messages to celebrate the event. During the expert presentations, Nam Gi-yeop, CEO of Pharos I-Bio; Jeong Yoon-taek, Director of the Pharmaceutical Industry Strategy Research Institute; and Park Hyun-jung, Head of the Bio Pharmaceutical Approval Division at the Ministry of Food and Drug Safety, spoke on topics including "AI Drug Development Platform Chemiverse: Present and Future," "Securing Big Data to Capture New Drugs: AI 'Pharma 5.0'," and "Policies to Support Globalization of K-Bio." Nam noted, "AI drug development has entered an era of 'AI agents' that can formulate hypotheses and make decisions autonomously, evolving into intelligent partners that support decision-making throughout the entire drug development process." Jeong emphasized, "The pharmaceutical and bio industries are entering the 'Pharma 5.0' era. Without high-quality, vast data, AI models cannot learn or predict effectively, so capturing data is essential to capture new drugs." As companies actively pursue drug development using AI, the government is also focusing on reducing the time required for drug development and approval. Park stated, "Shortening the drug development and approval process will alleviate the burden on companies and bolster the global market entry and export expansion of domestic firms."* This article has been translated by AI. 2026-05-14 20:03:10

Ministry of SMEs Introduces Disclosure System for Fund Transparency South Korea's Ministry of SMEs and Startups has announced the introduction of a new disclosure system aimed at enhancing transparency in the management of its fund of funds. This initiative is designed to boost confidence in the venture investment market and attract private capital that has been hesitant to enter.On May 14, the ministry, in collaboration with Korea Venture Investment Corp., discussed the "2027 Fund of Funds Investment Strategy and Disclosure System Implementation Plan," presenting a detailed roadmap.The key to this innovation is "information transparency." The ministry plans to publicly disclose major operational indicators of the fund of funds to enhance trust in its policy fund management.Previously, metrics such as liquidation returns and success stories of invested companies were shared only within the industry. Now, these will be visualized and made accessible to the public in an easily understandable format. This aims to demonstrate to private investors that the fund of funds is generating substantial returns and achievements beyond mere financial support, thereby encouraging private capital inflow into venture funds.Since its inception in 2005, the fund of funds has invested 17 trillion won (approximately $15 billion), creating a total of 50 trillion won (about $38 billion) in sub-funds and investing in over 110,700 innovative startups. As of last year, the funds that have completed liquidation recorded an average annual return of 8%. According to the ministry, about 87% of domestic unicorn companies have received investments from the fund of funds, and in the past five years, 82% of companies listed on the KOSDAQ through technology special listings were funded by it.The size of the fund of funds has been steadily increasing. Last year, Korea Venture Investment Corp. contributed 2.22 trillion won, leading to the establishment of 4.47 trillion won in venture funds, which resulted in a total investment of 3.99 trillion won. This year, the ministry plans to invest a record 2.6 trillion won to support the growth of next-generation unicorns, regional businesses, cultural and tourism ventures, intellectual property, and biotechnology startups.Additionally, the ministry has taken the lead in expanding the regional venture investment ecosystem. It has established a dedicated regional investment fund worth 1.8 trillion won and invested in over 600 regional innovative companies. Funds that have been liquidated in the past five years have shown a respectable return of over 11%.Moving forward, the ministry aims to accelerate the establishment of the newly created "LP Growth Fund" to encourage participation from institutional investors, including pension funds, financial institutions, and industry players. Together with around 25 institutions, it plans to create a total of 850 billion won in sub-funds.Han Seong-sook, Minister of SMEs and Startups, stated, "Over the past 20 years, the fund of funds has played a crucial role in discovering promising startups and nurturing them into unicorn companies, significantly contributing to the growth and development of the venture investment market. We will strengthen our role as a catalyst for venture investment by promoting collaborations with relevant ministries to create big tech companies, expand the regional investment ecosystem, and attract private investment."* This article has been translated by AI. 2026-05-14 20:01:03

Insurance Payments Required for Driver's Liability Even Without Prosecution Financial authorities have determined that if a traffic accident victim suffers serious injuries, the driver's insurance must cover the criminal settlement amount, even if the perpetrator is not prosecuted. This decision aims to ensure that insurance companies provide coverage when settlements are made to reduce the likelihood of criminal charges. On May 14, the Financial Supervisory Service reported that its Financial Dispute Resolution Committee ruled in favor of three cases related to driver’s insurance claims, stating that insurance companies must pay out amounts equivalent to the criminal settlement. This insurance product covers criminal settlement amounts when the insured causes serious injuries classified as injury grades 1 to 3 under the Automobile Damage Compensation Act. The victims in these cases sustained significant injuries classified as grades 1 to 2 from a typical traffic accident. After reaching a criminal settlement with the perpetrator, they filed claims for traffic accident support payments with their insurance company. However, the insurer denied the claims, arguing that since the perpetrator was not prosecuted due to a lack of grounds for prosecution, “this was not a case requiring a criminal settlement.” The committee disagreed with this assessment, stating that the terms of the insurance policy clearly indicate that injury grades 1 to 3 are sufficient grounds for compensation. The ruling emphasized that the determination of whether the victim ultimately received a serious injury classification or whether the prosecution was initiated is irrelevant; what matters is the severity of the injuries. Furthermore, the committee concluded that a criminal settlement is not only necessary after a criminal conviction. The potential for criminal liability can change based on the victim's recovery status or the possibility of long-term injuries immediately following the accident. Therefore, if the perpetrator reached a settlement to mitigate the risk of criminal charges, the insurance company must recognize this as a valid criminal settlement. The Financial Supervisory Service explained that this decision holds significance for both drivers and victims of traffic accidents. It allows perpetrators to lessen their financial burden from settlements and return to their daily lives, while victims can receive timely and meaningful compensation. The agency plans to continue promoting reasonable insurance payouts in driver’s insurance and other essential insurance products.* This article has been translated by AI. 2026-05-14 19:59:19

Demand for Premium Family Dining Surges During Family Month As Family Month unfolds, the dining industry is witnessing a notable increase in demand for premium family dining experiences. Consumers are increasingly seeking special outings with parents or family members, leading to significant growth in high-end Korean beef dining and family restaurant performance. According to data from Naver Data Lab on May 14, the search volume for the keyword "dining" peaked at 100 on Children's Day, May 5, and recorded 94 on Parents' Day, May 8. This metric reflects the highest search volume during the observation period, normalized to a scale of 100. In fact, Dining Brands Group's premium Korean beef dining brand, Warehouse 43, reported a 152% increase in sales during the Parents' Day holiday from May 8 to 10 compared to the same period last year. The number of customers also rose by 139%. Notably, locations in residential areas with a high proportion of family households, such as Mokdong, Pangyo, and Jamsil, showed remarkable growth. Among the popular menu items were the "Warehouse Special," featuring tenderloin and sirloin, the rare cut "Special Tenderloin," and the "Korean Beef Masterpiece Set" aimed at family customers. The sales share of course menus, including the five-course "Midam" and the seven-course "Four Seasons," also expanded compared to last year. This trend is attributed to the growing demand for premium dining experiences as a way to treat parents. Family restaurants have shown a similar trend. Outback Steakhouse reported approximately a 20% increase in sales during the Golden Holiday period from May 1 to 5 compared to the same time last year. The highest number of visitors was recorded on Children's Day, May 5. The boost in performance is attributed to menu items that enhance the dining experience. The signature "Black Label Sizzling Edition" features steaks served on a 230-degree hot plate, emphasizing sound, aroma, and visual effects. Outback Steakhouse explained that this approach not only focuses on taste but also creates an engaging dining experience that resonates with family customers. The semi-course structure, which includes salad, main dishes, and desserts, is also cited as a factor in its popularity. Industry experts note that dining consumption is shifting from a focus on food alone to an emphasis on the overall experience, making ambiance, presentation, and experiential elements increasingly important. An industry insider stated, "During Family Month, even if there is a price burden, consumers are definitely looking to gift special experiences to their parents or families. The demand for premium dining that includes ambiance, service, and menu composition is continuing to grow."* This article has been translated by AI. 2026-05-14 19:57:14

Song Eon-seok: Jung Won-oh Unfit for Seoul Mayor Due to Assault Allegations On May 14, Song Eon-seok, the floor leader of the People Power Party, criticized Jung Won-oh, the Democratic Party's candidate for Seoul mayor, for failing to directly address allegations of assault. He urged the Democratic Party to replace Jung, stating, "A candidate with such allegations is unfit for the position of Seoul mayor." In a Facebook post, Song, who also serves as a co-chair of the party's election committee, remarked, "While Busan mayoral candidate Jeon Jae-soo could not deny receiving a Cartier watch, Jung also fails to clearly state that he did not coerce a female employee into an overnight stay or threaten a cafe owner." He emphasized the seriousness of the allegations, describing them as involving violence, coercion, intimidation, and deceit. "Without a clear explanation from Jung, we will consider this an admission of guilt regarding the criminal allegations," he stated. Song accused Jung of exploiting the May 18 Democratic Movement to glamorize violence. He questioned, "Did Jung assault police officers and civilians unrelated to the May 18 movement? Using the May 18 movement to embellish his crimes is an affront to its legacy." He further pointed out that Democratic Party candidates Woo Sang-ho and Song Young-gil had previously engaged in inappropriate behavior during the May 18 commemorative events, with Woo allegedly grabbing former lawmaker Im Soo-kyung and hurling insults at her. "From Woo to Jung, violence and assault seem to be part of the Democratic Party's DNA," he concluded. * This article has been translated by AI. 2026-05-14 19:55:16