Mirae Asset Life Reports 534 Billion Won in Q1 Profit, Driven by Growth in Protection Insurance Mirae Asset Life has more than doubled its net profit in the first quarter of this year, thanks to an expansion in protection insurance sales. The company reported improvements in its health insurance product portfolio and continued growth in commission-based businesses such as variable insurance and retirement pensions. On May 15, Mirae Asset Life announced that its consolidated net profit for the first quarter reached 534 billion won, marking an increase of approximately 115% compared to the same period last year. This growth is attributed to a focus on profitability-driven sales strategies and risk management amid uncertain domestic and international conditions. Notably, the growth in new contracts for protection insurance was significant. The annualized premium equivalent (APE) for new protection insurance contracts in the first quarter was 1.01 trillion won, a 34.6% increase from the previous year. The company also saw an increase in its insurance contract margin (CSM), a key indicator of future profitability. The CSM for new contracts in the first quarter was 1.507 trillion won, up 6.8% year-on-year, while the CSM for existing contracts rose to 21.506 trillion won, a 4.5% increase from the end of last year. The CSM for protection insurance increased by 9.7%, and the CSM for health and injury insurance grew by 10.9%. The revenue structure remained stable, with insurance profit recorded at 7.7 billion won and investment profit at 586 billion won. Total assets were reported at 32.3 trillion won, with equity capital amounting to 24 trillion won. Commission-based businesses, including variable insurance and retirement pensions, continued to show growth. The reserve for variable insurance in the first quarter reached 13.3 trillion won, a 15.0% increase from the same period last year, while commission income from variable insurance rose by 15.7% to 14.3 billion won. Overall fee-based business performance expanded to 191.7 billion won compared to the previous year. A representative from Mirae Asset Life stated, "Despite the uncertain domestic and international environment, we focused on improving our product portfolio and risk management to achieve sustainable profit generation. We have achieved stable earnings based on solid fundamentals."* This article has been translated by AI. 2026-05-15 22:04:05

Prague Spring Festival Celebrates Classical Music and Culture Prague, the romantic city of Europe, is immersed in classical melodies as the Prague Spring International Music Festival kicked off on May 12. This year, the festival is particularly special for Korean travelers, as it coincides with the news of a young Korean pianist winning a prestigious competition. The 81st Prague Spring International Music Festival, running until June 4, is a premier cultural event in the Czech Republic. This year, renowned musicians such as conductor Simon Rattle and resident artist Barbara Hannigan are performing, attracting global music enthusiasts to Prague. Prague has recently gained recognition as a cultural destination where visitors can enjoy classical music, performing arts, gastronomy, design, and lifestyle. The entire city transforms into a vast artistic stage during the festival, with performances held at historic venues like the grand Rudolfinum and the Art Nouveau-style Municipal House. In spring and early summer, outdoor cafes along the Vltava River and various cultural events enhance the city's romantic atmosphere. Opening performance of the Prague Spring Festival. The festival is particularly exciting this year due to the remarkable achievements of Korean musicians. Eighteen-year-old pianist Son Se-hyuk won first place in the piano category of the 77th Prague Spring International Music Competition. This prestigious competition is known for showcasing young talent from around the world. According to the Kumho Cultural Foundation, Son performed Brahms' Piano Concerto No. 1 with the Prague Symphony Orchestra during the finals held on May 14 (local time), securing the top prize. He received a cash award of 250,000 koruna (approximately $1,790) and a special prize that includes an invitation to perform at the 2027 Prague Spring International Music Festival. Additionally, renowned composer Jin Eun-suk is participating as a resident composer in the festival's contemporary music platform, 'Prague Offspring,' showcasing the uniqueness of Korean contemporary music. On May 13, the Prague Radio Symphony Orchestra, conducted by Petr Popelka, performed Smetana's symphonic poem 'My Country,' which was streamed live on social media by the Czech Cultural Center in Korea, evoking nostalgia for European travel among domestic tourists. Mikael Prochazka, head of the Czech Tourism Office in Korea, stated, "The Prague Spring International Music Festival vividly showcases the history and artistry of Prague through classical music. This year, the achievements of Korean musicians are particularly prominent, deepening the cultural exchange between Korea and the Czech Republic."* This article has been translated by AI. 2026-05-15 22:01:13

Thinkware Reports 1st Quarter Revenue of 119.7 Billion Won Amid Operating Loss Thinkware announced on May 15 that it recorded consolidated revenue of 119.7 billion won and an operating loss of 4.6 billion won for the first quarter of this year. Revenue decreased by 16% compared to the same period last year, and the company shifted from an operating profit of 400 million won in the first quarter of 2025 to a loss this year. A company representative explained, "The results were impacted by delays in the supply schedule of some products, rising prices of raw materials including semiconductor memory due to geopolitical risks, and the appreciation of the yuan." To overcome external uncertainties, Thinkware is securing long-term growth drivers through initiatives such as supplying black boxes exclusively for Mercedes-Benz Korea, launching ultra-compact black boxes for two-wheeled mobility, expanding online distribution of Xiaomi products, operating an AI-based taxi-hailing platform, and developing overseas digital twin projects. Recently, the company signed a supply contract worth approximately 40 billion won with BMW Global and is expanding its product lineup to include camcorders, smart audio devices, and switch controllers, aiming to become a global automotive electronics company. Notably, Thinkware has filed 2,765 intellectual property (IP) applications with the five major patent offices worldwide, holding over 1,580 registered patents. According to global patent analysis firm LexisNexis® PatentSight+™, Thinkware has been recognized as the only mid-sized company in South Korea to be listed among the top 10 applicants in the autonomous driving sector from 2019 to 2025. The company representative stated, "We will strengthen our technological and product competitiveness in the global market based on our IP portfolio. We are currently pursuing multiple IP monetization projects in IT, wearables, autonomous driving, connected cars, mobility, and drones, in partnership with specialized law firms and IP investment institutions to protect our rights and commercialize these projects, which we believe will grow into a core high-profit business in the long term." * This article has been translated by AI. 2026-05-15 21:58:14

South Korea Welcomes US-China Summit; Deputy Foreign Minister to Visit Washington South Korea's Blue House expressed a welcoming stance on May 15 regarding the US-China summit held in Beijing between President Donald Trump and Chinese President Xi Jinping. Hong Kyoo-yeon, the Chief of Public Relations, stated during a briefing at the Chunchugwan that the South Korean government welcomes the meeting as it fosters a framework for cooperation between the US and China. He added, "We expect that this will strengthen the relationships between South Korea and China, as well as between South Korea and the United States." In related news, Deputy Foreign Minister Park Yoon-joo is set to visit the United States to meet with Deputy Secretary of State Christopher Landau and Assistant Secretary of State for East Asian and Pacific Affairs Allison Hooker. Park will be in Washington from May 18 for three days to discuss a wide range of topics, including follow-up actions on the joint fact sheet from the South Korea-US summit and various regional and global issues. She is also expected to request a briefing on the outcomes of the US-China summit. Reports indicate that while President Trump and President Xi reaffirmed a truce on tariffs, they did not reach a clear agreement on issues related to semiconductors, rare earths, and advanced technology controls.* This article has been translated by AI. 2026-05-15 21:57:00

Krafton's Subnautica 2 Surpasses 2 Million Sales in 12 Hours Krafton's creative studio Unknown Worlds has launched its new title, 'Subnautica 2,' which is experiencing global success. Krafton announced on May 15 that 'Subnautica 2' surpassed 2 million in cumulative sales just 12 hours after its early access release. The game recorded a peak concurrent player count of 651,000 across Steam, Epic Games Store, and Xbox platforms. Of this, Steam alone accounted for a peak of 467,000 concurrent players. Initial player feedback has been positive, with Steam user reviews rated as 'very positive.' The game also met high expectations, having accumulated 5 million wishlists prior to its launch. Previously, 'Subnautica 2' achieved 1 million sales on its early access launch day and reached the top of the global revenue rankings on Steam. User reviews highlight several key features, including realistic underwater visuals powered by Unreal Engine 5, the series' first four-player co-op multiplayer, a survival and crafting system, and immersive storytelling. 'Subnautica 2' is the official sequel to the acclaimed 'Subnautica' series, known for its marine survival genre. Set on an alien planet, it utilizes Unreal Engine 5 graphics to vividly portray an unknown marine ecosystem. Additionally, for the first time in the series, it supports up to four players in cooperative gameplay, allowing users to strategize survival and share exploration achievements. Jin-hyung Lee, CEO of Krafton, stated, "The early access release is the first step in responding to our players' support. We will continue to listen to user feedback and work together to complete the game."* This article has been translated by AI. 2026-05-15 21:54:25

Cosmax Showcases PDRN and Sun Care Technologies at Shanghai Beauty Expo Cosmax, a cosmetic ODM (research, development, and manufacturing) company, announced on May 15 that it showcased local customized formulation technologies and inner beauty solutions at a B2B beauty expo in China.Cosmax revealed that its Chinese subsidiary, Cosmax China, completed its exhibition at the 30th China Shanghai Beauty Expo (CBE) held from December 12-14 at the Shanghai New International Expo Center. The CBE is an annual B2B beauty expo that attracts over 500,000 visitors from more than 120 countries.The exhibition featured three themed zones: Innovation, Global, and Value Plus, focusing on local consumer demand and showcasing global research and development (R&D) capabilities. The company noted that its locally customized sun care product line garnered significant interest from buyers. A company representative stated, "The sun care line, which improves whitening and clumping based on proprietary emulsification technology, was introduced as a product line that boosted Cosmax China's related sales by approximately 120% compared to the previous year."Cosmax also presented bio-technology-based skincare materials, including successfully commercialized bio-synthetic recombinant PDRN, enhanced absorption PDRN nanoparticle technology, and antioxidant enzyme (SOD) application technology derived from extremophile microorganisms.Additionally, the company showcased its R&D achievements, including the award-winning '1000 Trillion Moisturizer' formulation technology, which received the CosmoPack Award this year, and over 40 bestsellers and premium research outcomes, including studies on the mechanisms of gray hair development based on organoids.Cosmax's health supplement subsidiary, Cosmax Bio, also introduced inner beauty products. The company presented liquid health supplements utilizing collagen and sodium hyaluronate, as well as snack-form products featuring glutathione and vitamins, proposing solutions that encompass both cosmetics and inner beauty. A Cosmax representative stated, "We will provide differentiated integrated solutions to global clients by combining next-generation bio-formulation technology and inner beauty capabilities."Meanwhile, Cosmax reported that its consolidated revenue for the first quarter of this year reached 682 billion won, a 16% increase compared to the same period last year, marking the highest quarterly revenue to date. Operating profit for the same period rose by 3% to 53 billion won.* This article has been translated by AI. 2026-05-15 21:51:54

JVEM Opens New Production Facility in Suzhou, Strengthening Supply Chain and Price Competitiveness JVEM, a subsidiary of Hanmi Science, announced on May 15 that it has established a new factory in the Suzhou Industrial Park, a joint development zone in China and Singapore, dedicated to the production of automated pharmaceutical dispensing equipment. The opening ceremony was held last month. This new production facility is part of a strategy to expand global manufacturing bases, aimed at enhancing supply chain competitiveness and production efficiency through local production in China. China is experiencing a rapid increase in demand for pharmacy automation due to its aging population and advanced healthcare infrastructure. JVEM plans to leverage this facility to improve its responsiveness to the local market and intensify its efforts in the automated dispensing sector. The facility will produce Automated Pharmaceutical Sorting and Packaging System (APS) equipment, including models 300NS, 360NS, 420NS, and 480NS. APS is a key device that supports the automation of dispensing in hospitals and pharmacies, and demand for it continues to grow alongside the expansion of the global medical automation market. Notably, the Suzhou Industrial Park is a leading high-tech industrial zone in China, concentrated with foreign-invested enterprises, providing a stable business environment and robust manufacturing infrastructure. The company is also continuing its expansion in North America and Europe. In North America, it has launched the robot-based automated dispensing equipment 'CountMate,' while in Europe, it is expanding its sales and supply chain based on local networks. JVEM aims to enhance accessibility to the Chinese market, increase local supply and technical support, and strengthen its responsiveness to delivery and price competitiveness. As a specialist in pharmacy dispensing automation, JVEM holds over 90% market share in the domestic pouch-type dispensing automation equipment sector. Hanmi Group supplies JVEM equipment through 35 global partners in 60 countries. Hanmi Pharmaceutical and Online Farm are responsible for JVEM's overseas and domestic operations, respectively, while JVEM focuses on research and development (R&D) and production for next-generation product development.* This article has been translated by AI. 2026-05-15 21:49:17

Jung Saem Mool Beauty Selected for K-Export Star 500 Amid Global Expansion Efforts Jung Saem Mool Beauty announced on May 15 that it has been selected for the "2026 K-Export Star 500" program organized by the Ministry of Trade, Industry and Energy. According to Jung Saem Mool Beauty, the K-Export Star 500 meeting for representative companies was held on May 12 in Seongsu-dong, Seoul, with attendance from the Minister of Trade, Industry and Energy, the President of the Korea Trade-Investment Promotion Agency, and Vice President Yoo Jae-woong of Jung Saem Mool Beauty. They discussed global export strategies and shared on-site feedback from companies. The K-Export Star 500 initiative aims to identify domestic small and medium-sized enterprises with export potential and support their overseas expansion. The meeting included representatives from consumer goods, advanced technology, and key industries, with Jung Saem Mool Beauty recognized as a leading company in the cosmetics sector. With this selection, Jung Saem Mool Beauty plans to expand its exports, focusing on markets in the United States, China, Japan, Thailand, and Vietnam. This year, the company aims to accelerate its entry into the Chinese market through participation in the China Beauty Expo (CBE) and local influencer marketing. The company is also pursuing expansion in the North American market. From May 28 to June 2, Jung Saem Mool Beauty will open a pop-up store in Union Square, New York, providing local consumers with opportunities to experience the brand. A representative from Jung Saem Mool Beauty stated, "Being selected for the K-Export Star 500 is a recognition of our global growth potential and brand competitiveness. We will broaden our connections with overseas consumers and strengthen our brand influence in the global market." Meanwhile, according to the Korea Health Industry Development Institute, cosmetic exports reached $3.13 billion in the first quarter of this year, marking a 21.5% increase compared to the same period last year, the highest quarterly figure recorded. Exports of skincare products amounted to $2.43 billion, up 26.5%, while exports to the United States reached $470 million, a 49.1% increase.* This article has been translated by AI. 2026-05-15 21:46:09

Considering Monastic Life? Join Us on May 17 in Jongno If you are contemplating a monastic life, head to Jongno, Seoul, on May 17. The Jogye Order of Korean Buddhism's General Affairs Department announced that it will operate a "2026 Lantern Festival Traditional Culture Booth for Monastic Consultation" from 11 a.m. to 7 p.m. on May 17 at the Traditional Culture Plaza on Ujeongguk-ro in Jongno. This promotional booth invites anyone curious about the life of a practitioner and Buddhist culture to participate comfortably. The department plans to convey the significance of monastic life and the community of monks through interactive programs, including on-site consultations, distribution of monastic promotional materials, video screenings related to monastic life, Buddhist sentiment sticker experiences, stone meditation, and photo zones. At the booth, monk Hyewon will provide consultations on the process of ordination and life as a monk, while also distributing informational materials and screening videos to help participants better understand monastic life. On May 16, in celebration of Buddha's Birthday, the Jogye Order will host various events. A lantern parade will commence at 7 p.m. in front of Heunginjimun, where 50,000 participants will march with 100,000 colorful lanterns they have created, proceeding through Jongno to Jogyesa Temple. The Traditional Culture Festival is a street festival where attendees can enjoy experiences and performances related to Korean traditional and Buddhist culture, featuring 129 booths and performances from 19 organizations. A representative from the Jogye Order's General Affairs Department stated, "We will continue to operate monastic consultations and cultural experience programs at various events, including the Lantern Festival, Buddhist Exposition, and youth and university student events, to reduce the psychological distance regarding ordination and enhance understanding of the monastic community."* This article has been translated by AI. 2026-05-15 21:42:54

Korea Expressway Corporation Conducts Safety Inspections Ahead of Rainy Season The Korea Expressway Corporation is ramping up its safety management efforts for key highway facilities ahead of the upcoming rainy season.On May 15, Lee Sang-jae, acting president of the corporation, visited the Yul-am Bridge on the Seohaean Expressway in Hwaseong, Gyeonggi Province, to personally inspect bridge structures and the preparedness for severe weather, while encouraging on-site personnel. This inspection is part of the Ministry of the Interior and Safety's '2026 Focused Safety Inspection' initiative.During the focused safety inspection period from April 20 to June 19, the Korea Expressway Corporation has identified a total of 124 disaster-vulnerable facilities with high levels of aging and risk for concentrated management. The inspection targets include 33 bridges, 22 slopes, 7 retaining walls, 13 culverts, and 49 disaster prevention facilities.To enhance objectivity and expertise, the corporation has formed inspection teams in collaboration with private experts from maintenance organizations and relevant academic societies, thoroughly examining risk factors across the highway network.A notable feature of this inspection is the active use of advanced technology in areas that are difficult to assess visually. Drones are deployed to inspect sections that are hazardous for human access, while Ground Penetrating Radar (GPR) equipment is utilized for examining bridge deck conditions.GPR emits electromagnetic waves to assess the thickness and deterioration of pavement layers, effectively detecting corrosion or cracks within structures that are not visible externally. The corporation aims to significantly enhance the precision of safety inspections through this technology.Lee emphasized on-site that, "The importance of highway safety management has never been greater, given the combination of extreme rainfall due to climate change and the aging of facilities."He added, "Through this focused safety inspection, we will proactively identify even minor risk factors and take immediate action. We aim to create a highway environment where the public can travel safely at any time and place through thorough maintenance."Meanwhile, in response to prolonged instability in the Middle East leading to high oil prices and construction material supply issues, the Korea Expressway Corporation has entered an emergency management system. The corporation has activated a management task force led by executives to stabilize fuel prices at highway gas stations and implement toll exemptions for buses and freight trucks, while monitoring material supply to minimize construction delays. Additionally, regional responsibility has been assigned to headquarters executives, and a practical 'on-site inspection team' is being operated continuously to enhance management of customer-facing facilities such as rest areas and gas stations.* This article has been translated by AI. 2026-05-15 21:39:50