More Big Brokerages Adopt Co-CEO Structures as Businesses Diversify More securities firms in South Korea are adopting a co-CEO structure, particularly among large brokerages, as their scale and business lines expand. The shift reflects broader diversification into areas such as comprehensive investment services and investment banking, with companies splitting accountability by division. As of April 30, three firms have adopted co-CEO structures: Mirae Asset Securities, KB Securities and Meritz Securities, according to the financial investment industry. Mirae Asset Securities has operated under a co-CEO system since 2023, with CEO Kim Miseop overseeing global and IB operations and CEO Heo Seonho leading wealth management and retail. The company has since posted broadly balanced growth across major businesses including WM, global, IB and trading. KB Securities, operating with separate CEOs for IB and WM, has produced results strong enough to enter the annual operating profit “1 trillion won club.” Meritz Securities, after adopting a two-top structure led by Jang Wonjae and Kim Jongmin in 2024, increased its contribution to parent Meritz Financial Group from 19% to 28%. More recently, NH Investment & Securities has moved to switch to a co-CEO structure, citing a larger organization and a more complex business structure following its entry into the IMA (comprehensive investment account) business. NH Investment & Securities in March became the third brokerage to receive approval for the IMA business. After the approval, it launched its first product and has been expanding its asset management business in earnest. The company said the co-CEO structure will run key business units under a system of accountable management and strengthen its mid- to long-term growth base by linking growth in client assets with investment finance capabilities. “As the scope of business widens and the scale of assets under management grows, the weight and complexity of management decisions also increase,” a company official said, calling the shift “a strategic choice to raise the company’s competitiveness and accountable management system by another level” as capital markets grow. Industry officials say the spread of co-CEO structures is being driven by the sharp expansion in brokerages’ size and business scope. The securities business has become too complex to manage under a single standard. Investment banking depends on speed in sourcing deals and executing investments, while wealth management focuses on maintaining a client base and managing stable returns. Under a single-CEO structure, managing businesses with different characteristics can lead to delayed decisions or concentrated risk, the industry says. By contrast, a co-CEO structure separates decision-making authority by division to increase speed, while each CEO bears individual responsibility for the area in charge. Officials say the approach can also improve risk controls and management transparency. * This article has been translated by AI. 2026-04-30 08:00:18

Singer Seo In-young Says First-Marriage Sofa Cost 25 Million Won Singer Seo In-young reflected on her marriage in a recent YouTube video. A video titled “Seo In-young’s first reveal: cooking doenjang stew all day at home and rolling kimbap (-10kg diet kimbap)” was posted April 29 on her YouTube channel, “Gaegwacheonseon Seo In-young.” After the production team told her a home-tour video drew 20,000 comments, Seo said, “I cried. I was so grateful that I read them all night.” Asked by a subscriber about her sofa, Seo said she bought it at a furniture discount store in Gonjiam. “It was 5 million won, but I paid 3 million won. It’s not dirt cheap,” she said. She added that the one she bought during her first marriage “was almost 25 million won.” The production team responded, “So you spent all your money on that,” and Seo nodded, saying, “That’s right,” drawing laughter. Seo held a wedding ceremony in 2023 with a non-celebrity businessman but divorced in 2024. Seo debuted in 2002 as a member of the girl group Jewelry and later released hit songs through group and solo work, including “One More Time” and “Cinderella.” She also gained popularity for her candid personality on MBC’s 2008 variety show “We Got Married.”* This article has been translated by AI. 2026-04-30 07:57:21

KOSPI Closes at Record 6,690.90 for Third Straight Session Despite OpenAI Jitters ◆Aju Economy Top Stories ▷KOSPI closes at record 6,690.90 for third straight session despite OpenAI concerns -According to the financial investment industry on the 29th, the KOSPI ended at 6,690.90, rewriting its all-time closing high. In the main board market, retail investors bought a net 167.4 billion won, and institutions purchased a net 477.7 billion won. Foreign investors sold a net 613.6 billion won, taking profits. -Overnight, U.S. stocks finished lower, led by declines in technology shares as uncertainty tied to OpenAI weighed on sentiment. Reports said OpenAI, which is preparing for an initial public offering, failed to meet internal targets, dampening risk appetite. -AI-related shares were hit. Nvidia fell 1.6%, while Oracle and CoreWeave, described as key cloud partners of OpenAI, slid 4.1% and 5.8%, respectively. The Philadelphia Semiconductor Index dropped 3.58%. -South Korean stocks also opened under pressure. Samsung Electronics and SK hynix fell 1.13% and 1.23% at the open, and the KOSPI started down 0.33% at 6,619.00. Buying demand strengthened later in the session, pushing the index back into positive territory. ◆Key report ▷Late-session rebound: KOSPI extends record run to three sessions (Yuanta Securities) -On the 29th, the KOSPI rose 0.8% and the Kosdaq gained 0.4%. Both opened slightly lower as concerns about OpenAI’s performance were reflected early. -From mid-session, foreign buying in Samsung Electronics, which ended up 1.8%, helped lift the market. Shares tied to the AI and semiconductor value chain, including power infrastructure and energy storage systems, also posted solid gains, driving the turnaround and another record close for a third straight session. -Strength in defense and refining and chemical shares also supported the broader market. The report said increased oil-price volatility after the UAE announced it would leave OPEC did not appear to have a major impact on equities. -Investors were shifting attention to the Federal Open Market Committee’s policy rate decision due the next day and earnings releases from major U.S. tech companies. ◆Major filings after the close (29th) ▷OrganoidScience: 6 billion won capital increase via third-party allotment ▷DearU: Additional 14.7 billion won purchase of shares in U.S. unit; stake to 100% ▷DA Technology: 2.7 billion won capital increase via third-party allotment ▷SK IE Technology: 86.3 billion won investment in China separator subsidiary ▷HS Hyosung: Q1 operating profit 12.5 billion won, up 3.8% from a year earlier ▷HYBE: Q1 operating loss 196.6 billion won, turning to a loss ◆Fund flows (as of the 28th, excluding ETFs) ▷Domestic equity funds: +4.3 billion won ▷Overseas equity funds: -5.1 billion won ◆Key events today (30th) ▷South Korea: Retail sales (March), industrial production (March) ▷Japan: Industrial production (March) ▷China: Manufacturing PMI (April), services PMI (April), Caixin manufacturing PMI (April) ▷Germany: Retail sales (March) ▷Eurozone: Consumer price index (April), GDP growth (Q1) ▷United States: GDP growth (Q1), personal consumption expenditures and income (March), PCE price index (March)* This article has been translated by AI. 2026-04-30 07:45:22

Fed Holds Key Rate Steady for Third Straight Meeting, Citing Still-High Inflation The Federal Reserve on April 29 (local time) held its benchmark interest rate steady at 3.50% to 3.75%, marking its third consecutive decision to keep rates unchanged. According to Yonhap News Agency, the decision was made on the second day of the Federal Open Market Committee’s regular meeting. The Fed cut rates three times in a row last year — in September, October and December — but has kept them on hold three straight times this year, following decisions in January and March. With the latest move, the interest-rate gap between South Korea (2.50%) and the United States remained 1.25 percentage points at the upper end. Explaining the decision, the Fed said, “Inflation remains elevated, which partly reflects recent increases in global energy prices,” and added that shifts in the Middle East situation are creating “high uncertainty” for the economic outlook. It said recent indicators suggest economic activity is expanding at a solid pace. “Job gains have moderated on average,” it said, adding that the unemployment rate has been little changed in recent months. The Fed said the committee aims over the longer run to achieve maximum employment and 2% inflation, and that it will closely assess economic data, changes in the outlook and risk factors in future rate decisions. It also said it is prepared to adjust the stance of monetary policy as appropriate if risks emerge that could hinder its goals — a remark some interpreted as signaling the possibility of future rate cuts.* This article has been translated by AI. 2026-04-30 06:07:24

GM Korea Runs Changwon Plant at 95% Capacity, Expands Role as Export Hub GM Korea is running its Changwon plant near full capacity as it strengthens its role as a global export base. After facing recurring speculation about a possible exit from the Korean market, the company has sought to counter that narrative with large-scale investment and by repositioning Changwon as a key hub for small sport utility vehicles. Strong exports, it says, are helping demonstrate its competitiveness within GM and support the sustainability of its Korea operations. Asif Khatri, GM vice president of manufacturing for international operations, said at an April 28 media briefing at the Changwon plant that it is “our benchmark facility.” He said combined cumulative production of the Chevrolet Trax Crossover and Trailblazer has surpassed 2 million units. The Trax Crossover and Trailblazer are small SUVs developed and produced in Korea, from planning and design to performance development and manufacturing, the company said. The Trax Crossover has been produced at the Changwon plant since 2023, while the Trailblazer has been produced in earnest at the Bupyeong plant since 2020. Asked about persistent rumors that GM could withdraw from Korea, Khatri said the company aims to dispel the claims through actions rather than words. “The rumors related to withdrawal are not true,” he said, adding that Korean plants are operating at maximum levels and “we need to build more.” He said the focus is on keeping plants running and working with the union to maximize output. GM Korea operates three production plants. It also has domestic facilities that produce engines and a six-speed automatic transmission (GF6), and the company said its bases are running near maximum capacity. The Changwon plant’s utilization rate is 95%, and it can produce up to 280,000 vehicles a year. Lee Dong-woo, vice president of manufacturing at GM Korea, said the company believes the small SUV segment could be among the last internal-combustion categories to remain viable and that customers continue to demand it. “We are in a situation where we are concerned because we cannot meet demand,” he said. Bang Seon-il, vice president of purchasing at GM Korea, said the vehicles are popular enough that they are exported worldwide in less than two to three days after production. On the fact that Korean plants currently produce only internal-combustion vehicles, the company said it is prioritizing output of small SUVs already proven in global markets rather than rushing electrification. Khatri said demand for vehicles produced in Korea is strong enough that the company cannot meet it, and that a dedicated team for new-energy vehicles — including hybrids (HEV), plug-in hybrids (PHEV) and electric vehicles (EV) — is reviewing potential opportunities. * This article has been translated by AI. 2026-04-30 06:06:15

Who Owns Samsung Electronics? A Debate Rekindled by a Union Strike Threat A corporation is often described as one of capitalism’s most consequential inventions. The first modern joint-stock company emerged in 1602: the Dutch East India Co., a spearhead of the colonial era. Two pillars defined the model — limited liability, which caps responsibility at the amount invested, and dividends, a mechanism for sharing profits. With the rise of stock exchanges, corporations flourished. Today, companies such as Nvidia and Apple have market values that exceed the GDP of many countries. In South Korea’s less-than-century-long history of capitalism, corporations have also been central to modernization and industrialization. Many entrepreneurs raised seed money through corporate structures and built companies that way. Samsung Electronics stands as the best-known example, growing in about 50 years into the country’s largest company, with a market capitalization of about 1,300 trillion won. As corporations and shareholder capitalism developed, one question kept resurfacing: Who owns the company? In the United States, the answer was settled long ago — shareholders are the owners. Under that model, a company’s goal is to maximize shareholder value, and executives, including the CEO, act as agents for shareholders. Economist Milton Friedman’s line that “the social responsibility of business is to increase its profits” became a key intellectual foundation. In South Korea, however, ownership has often been treated as shared. For years, the “owner” of a company was widely equated with the founding family. Small shareholders were often treated as owners only during the annual shareholders meeting season in March. At times, labor unions have stepped forward as if they were owners. The government has also tried to play that role. A prominent example was the “excess profit-sharing” proposal raised in 2011 by Chung Un-chan, head of the Commission for Shared Growth and a former Seoul National University president. The idea was to have large conglomerates that earned big profits share some of them with partner firms. Then-Samsung Chairman Lee Kun-hee pushed back sharply, calling it “something you don’t even learn in economics,” fueling a broader debate. Recent friction surrounding Samsung Electronics has revived the same argument. The company’s union has warned it will launch a general strike in May. If it happens, it would be the first strike in Samsung Electronics’ history. The union says employees should receive a larger share of the company’s performance gains. Some minority shareholders have begun organizing in response. A group of Samsung Electronics shareholders held a rally opposing a strike, arguing that large performance bonuses could reduce shareholder returns such as dividends. The government has also weighed in. Industry and Trade Minister Kim Jung-kwan said, “It is worth thinking about whether Samsung Electronics’ performance is truly the result only of management and workers.” While framed as concern about a strike, the remark could also be read as suggesting the company’s success includes contributions from the state, society and partner firms. With multiple groups seeking to assert a claim over the company, Samsung’s management faces competing demands. The semiconductor business posted losses as recently as two years ago. Samsung has since climbed onto an AI-driven semiconductor “super cycle,” but conditions can change quickly. The company needs a strategy that pours large sums into facilities and research and development while also building reserves. Yet minority shareholders are pressing for bigger dividends, the union is demanding a larger share of gains, and there is also quiet pressure from the government to expand social responsibilities such as jobs and corporate giving. So who owns Samsung Electronics? Is it Samsung Life Insurance, the company’s largest shareholder, or Chairman Lee Jae-yong? Is it the workforce of 128,200 employees? Or the 4.2 million individual shareholders recognized under the law? What about a government that changes every five years? One point is clear: the “true owner” should be whoever bears responsibility for Samsung’s future and sustainable growth. A union focused only on immediate distribution, or short-term investors chasing capital gains, cannot reasonably be called the owner. * This article has been translated by AI. 2026-04-30 06:05:09

Report: GM Korea-Built Chevrolet Trax Crossovers Ship From Changwon to North America Masan Gapo New Port on April 29 was packed with finished vehicles lined up for export, with a large car carrier preparing to load. The cars had been built at a domestic plant and were awaiting shipment overseas. Most of the vehicles carried the Chevrolet badge. They were largely the Chevrolet Trax Crossover, a small SUV produced at GM Korea’s Changwon plant. Since its 2023 launch, the model has sold about 1 million units cumulatively and ranked No. 1 in South Korea’s passenger-car exports for three consecutive years from 2023 through last year, filling the port’s staging area. Standing near a Hyundai Glovis vessel, Kim Hyeon-uk, deputy head of the logistics team at GM Korea, said he takes pride in “vehicles made in Changwon meeting global customers.” He described the loading as “the final step” in a long value chain linking the Changwon plant, Masan Gapo New Port and overseas markets. At the port, the ship GLOVIS CAPTAIN was preparing to depart with 350 Trax Crossovers bound for the port of Benicia near San Francisco. The vessel can carry up to 4,700 passenger vehicles, and the day’s loading took about two hours. The cars are expected to reach the west coast of North America after a 15-day voyage. Son Yong-jun, North America team leader for Hyundai Glovis’ car-carrier business, said GLOVIS CAPTAIN was deployed on short notice after delays to a scheduled vessel. He added that a significant portion of passenger vehicles loaded are exclusively GM vehicles, contributing to South Korea’s auto exports. Cho Heung-je, head of operations at Masan Gapo New Port, said the port expects a record 300,000 vehicles shipped this year, with GM Korea accounting for about 55% of total cargo volume. Nearby, GM Korea’s Changwon plant was running at a brisk pace, with workers and robots producing finished vehicles. The facility includes stamping, body, assembly and paint shops. A banner at the assembly shop entrance read, “We will achieve our business plan,” underscoring the company’s focus on exports. Inside, a height-adjustment system moved vehicle bodies up and down to fit workers’ average height. In the body shop, welding is fully automated, with large arm-like robots moving continuously as sparks flew. The body shop has 627 industrial robots. Bok Im-seong, who oversees the assembly shop at GM Korea, said robots identify and follow four types of tires — including alloy and steel wheels — and install them on vehicles. He said GM is reviewing the approach for possible benchmarking globally after seeing GM Korea’s application. 2026-04-30 06:03:18

Battery Industry Veteran Lee Mi-yeon Pushes Hands-On Training for Technicians Lee Mi-yeon, chair of the Korea Battery Technicians Association, has spent more than 30 years in battery manufacturing and is known as a leader shaped by the factory floor. Since 2010, she has led Yujin Technology, building a reputation as a veteran with hands-on experience and a deep understanding of the industry’s structure. Born in 1976, Lee graduated from Chungcheong University with a degree in mechanical design. She later studied in the Department of Convergence Mechanical Engineering at Jungwon University and completed a bachelor’s degree in business administration at Kyung Hee University, followed by a master’s program at its graduate school of business. In 2010, she founded Yujin Technology in Cheongju, North Chungcheong Province. She has designed and operated precision presses, molds and battery process equipment, while also accumulating on-the-job experience as CEO. Yujin Technology specializes in batteries, producing parts and equipment for the notching process — the first step in battery assembly — as well as lead tabs used as materials in assembly. Its notching molds are supplied exclusively to some affiliates of South Korea’s three major battery makers, the company said, and it holds a 60% share of the domestic market. As association chair, Lee has focused on training technical workers and strengthening the industrial base for the battery and electric vehicle sectors. The association trains field-oriented specialists through education in battery performance evaluation, diagnostics, repair and fire safety. It has produced more than 1,200 battery professionals and built a cooperation network with about 50 organizations. It has also worked beyond training to develop a battery terminology dictionary and standards related to used batteries and fires, the article said. Lee, a female engineer and CEO with broad experience across the battery production floor, said securing “field-ready” talent is urgent for the industry’s continued growth. While battery technology and equipment are advancing quickly, she said, skilled workers who can understand and operate them remain in short supply. “Industrial competitiveness ultimately depends not on technology, but on people who understand the field,” Lee said. “More important than equipment are technicians who can handle it properly.” Reflecting that view, the association is focusing on developing practical technicians who can understand batteries accurately, handle them safely and make data-based judgments, the article said. “Going forward, securing talent with core capabilities such as battery safety and fire response will determine market competitiveness,” Lee said. “The association will work to build an ecosystem where technicians are properly evaluated and can play a central role in the industry.”* This article has been translated by AI. 2026-04-30 05:04:53

Battery Association Chief Warns Talent Shortage Threatens Korea’s Edge Despite a demand slowdown for electric vehicles, South Korea’s battery industry is looking for a rebound. On the factory floor, however, a shortage of job-ready workers is emerging as a new risk. Lee Mi-yeon, chair of the Korea Battery Technicians Association, said maintaining Korea’s “super-gap” advantage will depend on building a field-centered talent ecosystem. “What will determine competitiveness is how many practical technicians we can secure who can be deployed immediately, not theory-focused talent,” she said. In an interview Tuesday with Ajou Economy, Lee pointed to a workforce mismatch as the industry’s biggest problem. “The industry is growing fast, but the people needed on site are still in short supply,” she said, adding that companies repeatedly face inefficiency by hiring new workers and then retraining them because of a gap between education and workplace needs. She said the profile of in-demand workers is changing. Where the focus once was on employees who could follow fixed processes precisely, plants now need “judgment-based technicians” who can diagnose and solve problems using data. “The current education structure remains at ‘70% theory, 30% practice,’ but the field demands the opposite,” Lee said. “Without a shift to practice-centered training, the labor problem will continue.” South Korean battery companies are already facing severe shortages. The Ministry of Trade, Industry and Energy and the Korea Battery Industry Association project domestic workforce demand in the secondary battery sector will rise rapidly and exceed 110,000 by 2032, implying that about 54,000 additional specialized workers will need to enter the industry. But the number of battery-related graduates and job-ready workers produced each year remains only in the thousands, she said. Shortages extend beyond research and development to production staff who run processes and manage yield. Global conditions are similar. The International Energy Agency said global energy-sector employment totaled 76 million in 2024, up more than 5 million from 2019. Jobs tied to electric vehicles and batteries led growth, increasing by about 800,000 in a single year. Companies, however, are struggling to secure workers with practical skills. In an IEA survey of more than 400 global energy companies, more than half cited labor shortages as their biggest management risk. Firms said their biggest hiring challenges were a lack of candidates with needed technical skills and intensifying competition for talent from rivals and other industries. Lee said overseas production bases are expanding quickly, but core engineers who can set up sites and manage quality are “absolutely” in short supply. To run global production lines reliably, she said, Korean engineers who can train local workers and lead technical work are becoming more important. She said plants are no longer looking for people who simply do what they are told. “The field wants technicians who make their own judgments and take responsibility,” Lee said, calling the ability to analyze battery conditions, interpret abnormal data and connect it to process improvements a key capability. Lee said talent development is directly tied to global competitiveness. She said China is ahead in scale and growth speed, but Korea has strengths in precision processes, quality and safety standards. Korea should respond with a strategy centered on advanced engineers, not just production labor, she said. The association focuses on training “immediately deployable” practical workers in batteries and electric-vehicle charging, including programs for specialized roles such as battery performance evaluators. It has recently expanded and reorganized as the incorporated Korea Battery Technicians Association, moving to strengthen the credibility of its certification system and to build a technician career-history management system. Lee said a key goal during her term is “standardizing technicians” by integrating differing company criteria and building a national standard curriculum and qualification system focused on diagnostics, evaluation and safety. She said the association cannot solve the problem alone. “Battery diagnostic equipment and safety training facilities are too costly for the private sector to build on its own,” Lee said, calling for national-level infrastructure support. She added that qualifications such as battery performance evaluator should be institutionally linked and recognized so they can be used in actual hiring standards. Lee also cited staffing shortages at regional manufacturing sites, saying the gap between the Seoul metropolitan area and other regions is widening and making it harder to secure skilled technicians. She called for a workplace-linked education model involving regional universities, companies and the association to create a virtuous cycle from “education → employment → settlement,” alongside better treatment of technicians and a stronger career-management system. “Ultimately, trust in an industry comes from people,” Lee said. “When trained technicians are sufficiently present on site, competitiveness can be maintained.” She said this year should be a starting point for building national education standards and hands-on training infrastructure, adding that the association will take the lead in building a field-centered talent ecosystem to help sustain Korea’s battery advantage.* This article has been translated by AI. 2026-04-30 05:03:43

YouTube launches AI-powered search feature for Premium users in the U.S. YouTube is rolling out a generative artificial intelligence search feature, accelerating its shift toward becoming a broader search platform and reshaping how users find information on the service. According to industry sources on the 29th, YouTube introduced an AI search tool called “Ask YouTube” for Premium subscribers ages 18 and older in the United States. The feature combines text and video in its results. When users type detailed questions — such as about travel itineraries or recipes — the AI first summarizes key points in text, then presents related videos and specific segments as clips in a step-by-step format. Unlike the previous approach of listing videos that match keywords, the tool puts an answer first and uses video to support it. That allows users to find needed information without scanning long videos. The move comes as information-seeking habits shift. According to CJ MezzoMedia’s “2026 Target Report,” released the same day, social media accounted for the largest share of information channels among people in their 20s. Among women, social media usage reached 62%. The share of information exposure through video channels was 44% for men and 41% for women, similar to or higher than portal-site search at 33% for men and 42% for women. YouTube’s influence is also evident in search behavior. Among people in their 20s, the share using YouTube to look up information was 47% for men and 39% for women. For men, YouTube ranked as a major channel after Naver at 52% and Google at 51%. Online video has become a central way people consume information. In internet activities among those in their 20s, “watching online video” was the top category at 67% for women and 52% for men. Average daily viewing time was about 1 hour and 50 minutes. Short-form video use reached 98%, and YouTube Shorts use was in the 80% range, the report said. Experts said the strategy reflects Google’s push to strengthen its position in search while maximizing the value of video content. Choi Byeong-ho, a research professor at Korea University’s Artificial Intelligence Research Institute, said the impact could be significant as learning, hobbies and even political activity increasingly center on YouTube. He said the shift could go beyond text-based search to enable video-driven connections such as extracting specific scenes, searching by people or style, and analyzing time-and-place context. He added that combining search AI with generative AI features could further increase users’ dependence on the platform.* This article has been translated by AI. 2026-04-30 00:04:39