President Lee to Meet Nobel Laureate Peter Howitt on May 15 President Lee Jae-myung will meet with Peter Howitt, the Nobel Prize-winning economist from Brown University, on May 15. Chief Presidential Spokesperson Kang Yu-jung announced on May 13 that President Lee will host Professor Howitt at the Blue House in the morning.Kang described Howitt as a leading scholar who has theoretically established that innovation is a key driver of economic growth. She noted that President Lee is expected to listen to the professor's suggestions regarding strategies for South Korea's economic leap and innovative growth.The meeting will also include Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol, along with Kim Yong-beom, Chief of Policy, Ha Jun-kyung, Chief of Economic Growth, and Moon Jin-young, Chief of Social Affairs from the Blue House.Professor Howitt was also the advisor for Lee's doctoral thesis at Brown University in 2003.* This article has been translated by AI. 2026-05-14 00:27:44

President Yoon Mentions U.S.-Korea Currency Swap in Meeting with Treasury Secretary President Yoon Suk Yeol mentioned the possibility of a U.S.-Korea currency swap during a meeting with U.S. Treasury Secretary Scott Benset on May 13. During a briefing later that day, Chief Presidential Secretary Kang Yoo-jung stated, "President Yoon met with Secretary Benset at the Blue House and noted that despite recent uncertainties, the economies of both countries are showing stability. He emphasized the need for close communication to strengthen economic cooperation between the two nations." Kang added, "The President highlighted the necessity for cooperation in the foreign exchange market, and Secretary Benset agreed with the President's views, stating that both countries need to work closely together moving forward." A currency swap refers to a foreign exchange transaction where two parties exchange different currencies at an agreed-upon exchange rate for a specified period. South Korea has previously entered into currency swaps with the United States during the global financial crisis in 2008 and at the onset of the COVID-19 pandemic in 2020 to stabilize its foreign exchange market amid international financial instability. Last year, the South Korean government also proposed a U.S.-Korea currency swap during tariff negotiations with the United States. However, a Blue House official stated that they could not confirm the specifics of President Yoon's proposal regarding the currency swap.* This article has been translated by AI. 2026-05-14 00:06:48

President Lee Surprises Ulsan Market Visit, Pledges Support for Local Economy President Lee Jae-myung visited the Namok Masung Market in Ulsan's Dong-gu on May 13, engaging with local residents. After presiding over a 'K-Shipbuilding Future Vision' meeting at the Hyundai Hotel, President Lee went to the market to hear from citizens, according to Deputy Spokesperson Ahn Gyu-ryeong in a written briefing. The news of his visit drew a large crowd, with residents welcoming him with cheers and applause. President Lee shook hands with citizens and posed for photos, responding warmly to their enthusiasm. He made a point to connect with children by bending down to greet them and exchanged high-fives with teenagers, prompting laughter and applause from the crowd. During his visit, President Lee purchased various items, including shiitake mushrooms, melons, steamed cod, and spicy soybean paste salad, using cash and Onnuri gift certificates. He also sampled and bought local snacks such as mugwort rice cakes, fried chicken skin, sweet rice drink, and red bean bread. While conversing with shop owners, he promised to work harder to revitalize local economies. As President Lee departed the market, residents continued to send him off with warm wishes, saying, "Stay healthy" and "Keep up the good work," while he waved back until he got into his vehicle.* This article has been translated by AI. 2026-05-13 23:30:52

Trump Arrives in Beijing for Three-Day State Visit Trump begins three-day state visit to Beijing U.S. President Donald Trump arrived in Beijing on May 13, starting a three-day state visit. According to Yonhap News, China's state-run Xinhua News reported that Trump's Air Force One landed at Beijing Capital International Airport at 7:49 PM local time. This marks the first visit by a U.S. president to China in nine years, since Trump's first term in November 2017. Trump's visit comes amid ongoing tensions between the U.S. and China over trade tariffs, the Taiwan issue, and Middle Eastern affairs, drawing significant international attention. On May 14, the second day of his visit, Trump is scheduled to hold a summit with Chinese President Xi Jinping at the Great Hall of the People in Beijing. The two leaders last met in October during the Asia-Pacific Economic Cooperation (APEC) summit in Busan. The discussions are expected to focus on trade and tariff issues, as well as the situations in Taiwan and Iran. 525 billion won invested to secure key shipbuilding technologies As global competition in the shipbuilding industry intensifies, the South Korean government is investing 525 billion won to secure the future of its shipbuilding sector. The initiative aims to develop the world's first 24-hour autonomous AI shipyard project by 2030 and accelerate outcomes based on the MASGA project. On May 13, Minister of Trade, Industry and Energy Kim Jeong-kwan announced the "K-Shipbuilding Future Vision" during a meeting in Ulsan chaired by President Lee Jae-myung. The government will activate the "Shipbuilding and Shipping Win-Win Council" to ensure domestic orders for four essential vessel types: car carriers, energy carriers, bulk carriers, and offshore wind support vessels. This decision comes amid rising concerns over the increasing reliance on foreign vessels for critical security cargo transport. The public sector will prioritize domestic orders for resource and energy-related vessels. Over the next five years, up to 525 billion won will be invested in seven types of vessels crucial for the future of the shipbuilding industry, including liquefied natural gas (LNG) carriers, ammonia carriers, hydrogen carriers, liquefied carbon dioxide carriers, electric propulsion vessels, offshore wind support vessels, and polar icebreakers. The focus will be on securing specialized cargo tank technologies and developing a unique Korean model. The government is also accelerating global projects, aiming to establish a "Shipbuilding Alliance" with countries like India, Vietnam, the Philippines, and Saudi Arabia, which have shown interest in shipbuilding cooperation with South Korea. In these countries, the focus will be on enhancing cooperation in building general-purpose vessels, where South Korea lacks price competitiveness, while exporting key equipment and designs. The MASGA project, which served as a breakthrough in U.S.-Korea tariff negotiations, is now moving toward concrete outcomes. Following a memorandum of understanding signed on May 9 between the Ministry of Trade and the U.S. Department of Commerce, the "Korea-U.S. Shipbuilding Partnership Center" will facilitate close communication. Additionally, efforts will be made to explore ways to ensure that the rebuilding of the U.S. shipbuilding industry translates into domestic work and exports for South Korea. No evidence to confirm drone in Namoo incident, missile possibility remains Wi Seong-lak, head of the National Security Office, stated on May 13 that there is currently no evidence to confirm that the object involved in the incident with the Namoo vessel in the Strait of Hormuz was a drone. Speaking at a meeting with editors in Seoul, Wi explained that further investigation is needed based on the results obtained so far. He added, "If it is not a drone, it could be a missile, and various possibilities remain open." Wi also noted, "Even if it is a drone, it does not necessarily mean that there is a country that would face difficulties due to this incident." In response to President Trump's statement that a South Korean cargo ship was attacked by Iran while acting independently, Wi remarked, "I am not sure what basis President Trump had for saying it was Iran. Discussions are ongoing among the working-level teams in South Korea and the U.S., but we have not received a clear answer regarding the basis for Trump's assertion." KOSPI surge raises concerns for inverse ETFs facing delisting As the KOSPI index soared from around 4,200 at the end of last year to over 8,000 this year, many individual investors who bet on inverse and leveraged ETFs linked to the KOSPI have seen their investments plummet to near worthless levels. Some products are approaching delisting criteria. As of May 13, the Korea Exchange reported that the prices of KOSPI 200 leveraged inverse ETFs, including KODEX 200 Futures Inverse 2X, TIGER 200 Futures Inverse 2X, RISE 200 Futures Inverse 2X, and KIWOOM 200 Futures Inverse 2X, have all fallen to around 100 won. Only PLUS 200 Futures Inverse 2X remains above 200 won. Following the KOSPI's historic breach of the 7,000 mark on May 6, the index surged to nearly 7,999 on May 12, continuing its strong upward trend, which has rapidly increased losses for leveraged inverse ETFs. Over the past month, the returns for these ETFs have been approximately -48%, and around -64% over the last three months. With some analysts projecting further KOSPI gains, concerns surrounding leveraged inverse ETFs are intensifying. Hyundai Motor Securities raised its year-end KOSPI forecast on May 11 to 9,750, suggesting a potential rise to 12,000. Industry experts warn that if the KOSPI continues to rise for an extended period, the prices of leveraged inverse ETFs could effectively approach zero. Due to the nature of inverse leveraged ETFs, negative compounding effects accumulate during periods of index increases. Even if the index returns to its original level, the ETF returns will not recover.* This article has been translated by AI. 2026-05-13 22:08:24

Shinsegae's E-Mart Reports Highest First-Quarter Operating Profit in 14 Years Shinsegae Group Chairman Jeong Yong-jin's declaration of a "year of renewed growth" at the start of the year has been validated by impressive first-quarter results. E-Mart reported an operating profit of 178.3 billion won, marking its highest first-quarter performance in 14 years. Traders also achieved record quarterly sales, and the impact of the Starfield Market renovation is evident in the numbers. E-Mart announced on May 13 that its consolidated operating profit rose 11.9% year-on-year to 178.3 billion won. Although net sales decreased by 1.3% to 7.1234 trillion won, profitability showed significant improvement. This consolidated operating profit is the highest for the first quarter since 2012. The standalone operating profit also increased by 9.7% to 146.3 billion won, the highest for the first quarter in eight years since 2018. Standalone total sales rose by 1.9% to 4.7152 trillion won. In his New Year’s address, Chairman Jeong stated, "The innovative decisions made by Shinsegae Group over the past two to three years have been meticulous preparations for renewed growth, and in 2026, we will soar high." He emphasized the need to restore the "top nature" befitting a leading company and to establish a new market paradigm shift. In the first quarter alone, Jeong visited key locations, including Starfield Market in Jukjeon and Traders in Guwol, four times to assess operational effectiveness. The paradigm shift Jeong announced in his New Year’s address has been demonstrated in the first quarter, serving as a catalyst for E-Mart's transformation. The primary driver behind this performance improvement is the "customer-oriented space innovation." Stores that have been renovated into experience-focused Starfield Markets have achieved remarkable results. For instance, the first-quarter sales at the renovated Ilsan store increased by 75.1% compared to the same period last year, and the number of visitors surged by 104.3%. The Dongtan and Gyeongsan stores also recorded double-digit sales growth of 12.1% and 18.5%, respectively. Notably, the proportion of customers staying for over three hours increased by an average of 87.1% across the three renovated stores. The company explained that the focus on experiential content and the design of stay-oriented spaces have extended customer dwell time and shifted consumption patterns toward experience-driven shopping, enhancing offline competitiveness. Price innovations that pass on cost improvements to customers also contributed to the success. E-Mart's flagship discount event, the "Whale It Festa," saw sales and customer numbers grow by 3.5% and 6.0%, respectively, compared to the previous year. The growth of the warehouse-style discount store Traders also bolstered overall performance. Traders reported total sales of 1.0601 trillion won in the first quarter, a 9.7% increase year-on-year, setting a new quarterly record. Operating profit rose by 12.4% to 47.8 billion won. Sales of the private brand "T-Standard" increased by 40% year-on-year, while the dining corner "T-Cafe" grew by 24%. The company plans to continue product innovation by replacing over 50% of its operating products this year. Key subsidiaries also contributed to the growth. Chosun Hotel & Resort achieved a 116.7% increase in operating profit to 3.9 billion won, driven by improved average spending per guest. SCK Company, which operates Starbucks, maintained stable growth with a 7.3% increase in net sales to 817.9 billion won compared to the previous year. Gmarket rebounded in gross merchandise volume (GMV) growth after four years since launching its joint venture with AliExpress, despite continuing operating losses. The company explained that this planned investment prioritizes market share and customer base expansion. In March, GMV and average spending per customer increased by 12% and 10%, respectively, with similar trends continuing into April. E-Mart stated, "The innovative paradigm shift emphasized by Chairman Jeong in his New Year’s address is already showing visible results in the first quarter, and we will accelerate future new business initiatives, including the construction of an artificial intelligence (AI) data center, based on the growth of our existing operations."* This article has been translated by AI. 2026-05-13 22:04:56

ASIA INSIGHT: President Trump lands at Beijing Capital Airport for U.S.-China Summit The illusion and reality of great-power diplomacy seen through China’s rally and Taiwan’s live-fire drills on May 13 SEOUL, May 13 (AJP) - On the night of May 13, Donald Trump stepped off Air Force One onto the tarmac of Beijing Capital International Airport. American and Chinese flags stood side by side in the reception hall, but beneath the choreography of state ceremony lingered the unmistakable tension of a relationship that has become the central geopolitical fault line of the 21st century. Officially, this was a state visit. In reality, it was something far larger: a negotiation over the architecture of global power itself — semiconductors and artificial intelligence, supply chains and currencies, Taiwan and the Middle East, military deterrence and economic survival. What made the moment especially striking was the sharply contrasting mood displayed on the same day by China and Taiwan. In China, investors celebrated. Shanghai’s stock market surged to its highest level in eleven years. In Taiwan, by contrast, the military conducted live-fire exercises on Kinmen Island, only a few kilometers from the Chinese mainland, using American-made Javelin anti-tank missiles for the first time in combat simulation. One spoke the language of capital. The other spoke the language of gunpowder. One reflected the optimism of markets. The other reflected the enduring reality of war preparation. China, on May 13, projected confidence. The Shanghai Composite Index climbed to its highest closing level since 2015, while Shenzhen’s ChiNext Index reached a historic high. Technology and artificial intelligence shares led the rally. The reported inclusion of Jensen Huang, chief executive of Nvidia, in the American delegation carried symbolic significance well beyond business. Markets interpreted the signal as evidence that Washington and Beijing may still seek some form of managed coexistence in the strategic industries of the future. Even amid fierce rivalry, the world’s two largest economies remain deeply interdependent. America retains technological superiority in advanced semiconductors and AI systems; China remains indispensable in manufacturing scale, industrial logistics, and critical supply chains. Taiwan, however, delivered a very different message. Taiwanese forces staged extensive coastal defense drills on Kinmen Island, rehearsing the repulsion of a simulated amphibious invasion by the People’s Liberation Army. American-made Javelin missiles were fired live for the first time from the island. Taipei was not merely conducting a military exercise. It was signaling simultaneously to Beijing and Washington that Taiwan does not intend to become a passive bargaining chip in any great-power negotiation. Kinmen is no ordinary island. During the Cold War, it stood on the front line of artillery duels between Communist China and the Republic of China. On clear nights, the lights of Xiamen shimmer just across the water. That American-made weapons discharged live rounds there, precisely as President Trump arrived in Beijing, carried unmistakable symbolism. China seeks to pull the United States closer through economics. Taiwan seeks to anchor the United States through security. That contrast reveals the essential truth behind this summit. The United States and China are locked in simultaneous competition and interdependence. They are rivals that cannot fully decouple, adversaries that cannot entirely disengage. The global economy of the AI age is too interconnected for a clean separation between American innovation and Chinese industrial capacity. The summit itself revolves around five principal issues. The first is artificial intelligence and semiconductors. Washington continues to tighten restrictions on advanced chip exports and AI-related technologies to China, seeking to slow Beijing’s progress in high-end computing and military applications. Yet American corporations cannot easily abandon the Chinese market. Companies such as Nvidia, Qualcomm, and Apple remain deeply tied to Chinese demand and manufacturing networks. China, for its part, has accelerated efforts toward semiconductor self-sufficiency. Yet it still depends heavily on foreign lithography systems, software ecosystems, and advanced manufacturing tools. Behind the scenes, both governments may therefore seek limited arrangements aimed at stabilizing supply chains while preserving strategic leverage. The second issue is trade and currency policy. The United States accuses China of industrial overcapacity and unfair export practices. China, meanwhile, argues that prolonged American monetary tightening and the dominance of the dollar have destabilized the global economy. The recent surge in Chinese equities reflects growing investor belief that a controlled easing of trade tensions may be possible, if only because both economies now face slowing growth and rising domestic pressures. The third — and most dangerous — issue is Taiwan. Beijing considers Taiwan an inseparable part of China and refuses to renounce the use of force. The United States continues to maintain its policy of strategic ambiguity while strengthening Taiwan’s defensive capabilities. Yet President Trump’s transactional style of diplomacy introduces additional uncertainty. Security, trade, tariffs, and technology may all become elements within a broader negotiation framework. For that reason, concerns persist in Taipei that Taiwan itself could become part of a larger geopolitical bargain. The fourth issue is the Middle East. Despite the intense focus on Taiwan, the immediate destabilizing force in the global economy today may be the risk of war involving Iran. China depends heavily on Middle Eastern energy imports, while the United States urgently needs stable oil prices to contain inflationary pressures at home. For both Washington and Beijing, maintaining stability in the Strait of Hormuz is therefore a strategic necessity, regardless of broader rivalry. The fifth issue concerns Russia and Ukraine. China continues to balance its strategic partnership with Russia against the economic risks associated with Western sanctions. The United States remains wary of Chinese support for Moscow, yet Washington also understands that a fully consolidated China-Russia axis would fundamentally alter the global balance of power. Quiet strategic understandings, therefore, may emerge even where public confrontation dominates headlines. What follows this summit could reshape the political landscape of Northeast Asia in several different ways. The optimistic scenario is one of limited détente. Should both sides agree to extend their informal trade truce and stabilize technology relations, Asian markets may rally further. Semiconductor industries in South Korea, Taiwan, and Japan would benefit from reduced uncertainty, while energy markets could regain a measure of stability. The middle scenario — perhaps the most likely — is one of carefully managed rivalry. Public gestures of cooperation may coexist with continued strategic competition in semiconductors, batteries, AI infrastructure, and rare-earth supply chains. Tensions in the Taiwan Strait would persist, but remain below the threshold of direct confrontation. The pessimistic scenario is one of renewed escalation. If the summit fails, or if Taiwan becomes a point of irreconcilable conflict, Beijing could intensify military pressure while Washington expands arms support for Taipei. Global markets would almost certainly react violently, with heightened volatility across semiconductors, shipping, energy, and currency markets. For South Korea, this summit cannot be viewed merely as another chapter in U.S.-China tensions. The Korean economy is structurally tied to both the American security system and the Chinese market. Semiconductors, batteries, automobiles, shipbuilding, and artificial intelligence all sit directly within the gravitational pull of this rivalry. At the same time, instability in the Middle East continues to deepen uncertainty. Should tensions involving Iran intensify further and threaten the Strait of Hormuz, the global economy could face a dual shock: geopolitical fragmentation in East Asia combined with energy disruption in the Persian Gulf. In the end, both Washington and Beijing understand a difficult truth. Neither side can fully destroy the other without damaging itself. An ancient line from The Art of War captures the logic of the present moment: “The supreme art of war is to subdue the enemy without fighting.” That is the phase into which the United States and China have now entered. The guns have not fired directly between them, yet they are already engaged in a struggle of immense consequence. They smile for cameras and shake hands beneath chandeliers, while quietly calculating each other’s vulnerabilities. And so, as President Trump descended the staircase onto the Beijing runway on the evening of May 13, the scene carried far more than the rituals of diplomacy. It carried the heavy shadow of a world entering a new age of strategic uncertainty. 2026-05-13 21:55:16

Trump Arrives in Beijing for U.S.-China Summit Amid Tensions On the night of May 13, 2026, U.S. President Donald Trump's plane landed at Beijing's Capital International Airport. The airport's VIP lounge displayed both the American flag and China's five-star red flag, symbolizing the complex tensions and calculations in U.S.-China relations since the Cold War. While the visit appeared to be a state visit on the surface, it was actually a stage for a massive negotiation encompassing AI semiconductors, supply chains, the Taiwan Strait, conflicts in the Middle East, dollar hegemony, and the overall structure of global power in the 21st century. Interestingly, on the same day, China and Taiwan displayed starkly contrasting sentiments. The Shanghai Stock Exchange reached an 11-year high, while Taiwan conducted live-fire drills with U.S.-made Javelin missiles just a few kilometers from mainland China on Kinmen Island. One reflected the language of money, while the other spoke the language of gunpowder—one represented market optimism, and the other the grim reality of potential conflict. On May 13, China celebrated as the Shanghai Composite Index hit its highest level since 2015, and the Shenzhen Stock Exchange's ChiNext Index reached an all-time high. Stocks related to AI and semiconductors surged, particularly following the news of Jensen Huang's visit to China, which signified a potential new compromise between American technological capital and Chinese manufacturing capabilities. The Chinese market began to bet on the possibility of easing U.S.-China tensions. In contrast, Taiwan sent a different message. The Taiwanese military conducted landing defense drills on the Kinmen coast, directly across from mainland China, and for the first time, fired U.S.-made Javelin missiles. By showcasing its military cooperation with the U.S., Taiwan aimed to convey to both China and the U.S. that it is not merely a pawn on the negotiation table. Kinmen is not just an ordinary island; it was the frontline where China and Taiwan exchanged artillery fire during the Cold War. The lights of Xiamen, China, are visible just a few kilometers away. The firing of American weapons from there is a powerful symbol, illustrating how, while China draws the U.S. in economically, Taiwan holds onto the U.S. for security. This scene ultimately reflects the essence of the summit. The U.S. and China are in a relationship where they must cooperate even as they clash. They must fight without collapsing and compete without severing ties, as the global economy in the AI era is intricately intertwined, making complete separation impossible. The key agenda items for the summit are fivefold: AI and Semiconductor Issues: The U.S. is working to curb China's rise in advanced semiconductors, particularly by controlling exports of high-performance GPUs and advanced equipment to slow China's military AI development. However, American companies like NVIDIA, Qualcomm, and Apple find it difficult to completely abandon the Chinese market. While China is pushing for self-sufficiency in advanced chips, it still relies heavily on U.S. technology and equipment. Therefore, discussions may focus on limited technology easing and supply chain stabilization.Trade and Currency Issues: The U.S. is pressuring China over its overproduction and low-cost exports. Conversely, China views the U.S.'s high-interest policies and dollar hegemony as destabilizing the global economy. The recent surge in Chinese stocks indicates that the market is beginning to sense a possibility of a "managed trade truce." Both countries are facing increasing economic slowdown pressures, making some level of compromise inevitable.The Taiwan Issue: This is the most dangerous topic of the summit. China insists it cannot compromise on the "One China" principle, while the U.S. maintains strategic ambiguity while strengthening Taiwan's defense capabilities. The concern lies in President Trump's deal-centric diplomatic style, which tends to treat security and economic issues as a single package. Some fear that the Taiwan issue could become a bargaining chip linked to trade, tariffs, and technology negotiations.The Middle East Issue: Currently, the biggest variable in the world is the Middle East, particularly the risk of war with Iran, which directly impacts global oil prices and supply chains. China is heavily dependent on Middle Eastern oil, and the U.S. urgently needs stable oil prices to curb inflation. Thus, while the U.S. and China compete, they also share interests in stabilizing the Strait of Hormuz.The Ukraine and Russia Issue: China maintains a strategic partnership with Russia while simultaneously bearing the burdens of Western sanctions. The U.S. is wary of China's support for Russia. However, in the long term, the U.S. does not want to see a complete alliance between Russia and China. Therefore, there may be some level of strategic communication that remains undisclosed during the summit. Following the summit, three scenarios could unfold in Northeast Asia: Optimistic Scenario: If both countries agree to extend the trade war truce and pursue limited technological cooperation, Chinese stocks could rise further, and the semiconductor industries in South Korea, Taiwan, and Japan could stabilize. International oil prices may also stabilize, allowing global financial markets to recover their risk appetite.Intermediate Scenario: If the two sides appear to smile but reach only limited agreements, they may avoid conflict while continuing their core hegemonic competition. Currently, this scenario seems most likely. Competition will persist in AI, semiconductors, batteries, and rare earths, and tensions in the Taiwan Strait are likely to remain structurally high.Pessimistic Scenario: If the summit fails or tensions escalate over Taiwan, China may increase the intensity of its military drills, and the U.S. could expand its military support for Taiwan. Global financial markets could be immediately shaken, particularly increasing volatility in the semiconductor, shipping, and energy markets. From South Korea's perspective, the summit should not be viewed merely as a U.S.-China conflict news story. The South Korean economy is deeply intertwined with both the U.S. security system and the Chinese market. Industries such as semiconductors, batteries, automobiles, shipbuilding, AI, and data centers are all influenced by U.S.-China relations. Moreover, the risk in the Middle East adds another layer of complexity. If the conflict in Iran escalates and tensions in the Strait of Hormuz rise, the global economy could face a dual shock if U.S.-China relations do not stabilize to some extent. Ultimately, both the U.S. and China are living in an era where they cannot completely undermine each other. As the ancient Chinese text "The Art of War" states, "The best victory is the one that is achieved without fighting." The U.S. and China are entering that phase, engaging in a war without firing shots, smiling while calculating each other's vulnerabilities. Behind President Trump's expression as he arrived at Beijing airport on the night of May 13 lies a heavy shadow of an era that is more than just a diplomatic visit. 2026-05-13 21:54:00

Seoul Forest Hosts 'K-Construction Zone' at International Garden Expo The Seoul International Garden Expo is currently underway at Seoul Forest in Seongdong-gu, where construction companies are showcasing their brand gardens in the newly established 'K-Construction Zone.' This marks a shift in construction marketing from traditional model homes to gardens, pop-ups, and lifestyle spaces. Upon entering the grassy area of Seoul Forest, visitors are greeted by a red gate, a circular garden, and lush green pathways. Families with strollers strolled through the space, while many young visitors in their 20s and 30s took photos. The 'K-Construction Zone' features contributions from GS Construction, IPARK Hyundai Industrial Development, Gyeryong Construction, Daewoo Construction, and Hoban Construction. Gyeryong Construction attracted attention with its red gate and stone wall garden, while Daewoo Construction presented a 'Silo' garden centered around a circular structure. HDC Hyundai Industrial Development showcased landscaping with hydrangeas and a sign reading, "Imagine Before You Build" hanging from existing trees. Seating and lounge areas were set up throughout the zone, allowing visitors to relax naturally. This strategy aims to expand construction brands beyond simple sales promotions into 'experiential content' to connect with younger consumers. Among the displays, GS Construction's corporate garden 'Garden Xi' stood out. Inspired by Jeju's Gotjawal forest, GS Construction created the 'Elysian Forest' by preserving existing trees in Seoul Forest and densely planting oak and fern species to enhance the forest's depth. A 'UFB Cooling Mist System' was installed in shaded areas, providing a refreshing experience akin to being in a real forest. Staff members were present to curate the space and offer merchandise. Visitors commented, "I stumbled upon this while walking in Seoul Forest, and it doesn't feel like a construction company space," and, "There are many photo spots, and the atmosphere is trendy." Families with strollers and couples in their 20s and 30s filled the area. Ryu Hye-bin, head of the new product strategy team at GS Construction, stated, "We designed this space so that visitors to Seoul Forest can naturally encounter the Xi brand. We focused on creating a space where people can linger without disrupting the existing grassy area." According to GS Construction, approximately 86,000 visitors have visited 'Elysian Forest' from May 1 to 12. After the garden's operation concludes, the space will be donated to the city of Seoul, ensuring that citizens can continue to use it even after the pop-up ends. About a 15-minute walk from Seoul Forest, another 'Xi experience space' is operating in Seongsu-dong. GS Construction has rebranded a space previously used as a promotional center for members of the Seongsu Strategic Redevelopment Zone into a 'House Xi' pop-up store. The interior of the pop-up differs from typical apartment promotional centers. Open from 10 a.m., the space accommodates about 20 to 30 visitors per session, with most pre-reservations already filled. Many visitors arrived after hearing word-of-mouth about the event. Upon entering, visitors first encounter a large model of 'Rivenique Xi,' which is set to be launched in 2031, in the 'Diorama Zone.' The following 'Amenity Zone' is designed like a small movie theater, while the 'Unit Zone' allows visitors to indirectly experience views of the Han River from a height of up to 64 stories. The technology used to create a panoramic view through an open window structure is currently under patent application. Throughout the space, elements that stimulate the senses are incorporated. The interior features curated Xi sound music, and the lighting and diffuser arrangements catch the eye. Collaborative content with Kyobo Bookstore and CGV, as well as high-end community services such as a sky lounge wine bar party, kids' zone, and non-face-to-face medical services from Cha Hospital, are also introduced. Jung Yu-jin, a former member of the GS Construction brand strategy team, expressed, "We hope this space allows people to experience life at Xi in advance. We aim to expand the concept of home from a product to an experiential domain." She added, "Past construction company events felt like they belonged to the previous generation, but now, content that young people want to share on social media has become important. We are seeing many visitors in their 20s and 30s who want to experience Xi, in addition to those in their 40s to 60s with actual purchasing power." A visitor in their 30s remarked, "This is my first time at a construction company pop-up, and it's much more sensory than I expected, with plenty of photo spots for Instagram. It felt like a preview of future living rather than just a sales promotion."* This article has been translated by AI. 2026-05-13 21:25:43

Fashion Designer Choi Bok-ho Reflects on His Journey Ahead of 80th Birthday Choi Bok-ho, a pioneer in South Korea's fashion industry, shares his tumultuous life story and success journey. In an episode airing on May 13, EBS's 'The Millionaire Next Door' features Choi Bok-ho, a fashion designer with cumulative sales of approximately 500 billion won. Debuting in 1973, he is recognized as a living legend in the Korean fashion scene, marking his 53rd year in the industry. The broadcast will showcase Choi's tailor shop nestled deep in the mountains of Cheongdo, Gyeongsangbuk-do, which he has operated for 18 years. He revealed, "We receive an average of 1,000 to 1,500 visitors each month, with monthly sales reaching up to 60 million won," surprising viewers. The program will also highlight his ongoing work in the industry, including an outdoor fashion show and his active lifestyle as he approaches his 80th birthday. Choi was born to a single mother who lost her husband while pregnant with him. Growing up under her care, he was inspired by her always neat appearance and developed an interest in fashion. He nurtured his dream of becoming a designer after seeing Andre Kim, Korea's first male fashion designer, and eventually dropped out of college to pursue his passion. After completing his military service, Choi enrolled in a fashion school that had produced Andre Kim, where he honed his skills. His debut work, known for its bold designs, caught attention, leading to him being scouted by Choi Kyung-ja, a prominent figure in the fashion industry at the time. However, his promising start was met with unexpected challenges. Choi recalled, "I was fired after just one week on the job for earning 800 won. I thought the sky was falling down on me." The story behind his swift departure from the fashion industry, where he was once seen as a rising star, will be revealed in the broadcast. Later, Choi had to return to his hometown of Daegu due to unavoidable circumstances, leaving behind the fame and career he built in Seoul. Starting from scratch, he made a comeback with bold items like 'back pants' and 'fake gadamai,' shaking up the Daegu fashion scene. At a time when tailor shops primarily showcased elegant styles, Choi targeted the younger demographic with his designs, leading to a surge in popularity. He noted, "There were even followers who imitated my style," with reports of many people emulating his looks on the streets. His business expanded rapidly, and by the early 1980s, his monthly sales reached 100 million won, equivalent to the price of an apartment in Seoul, solidifying his status as a star designer. This success paved the way for him to make a name for himself on the global stage. The journey of a boy born to a single mother who grew up to become a leading designer in the Korean fashion industry, along with the secrets behind the 'back pants myth,' will be explored in 'The Millionaire Next Door' airing today at 9:55 PM.* This article has been translated by AI. 2026-05-13 21:21:55

President Trump Arrives in Beijing for Three-Day State Visit Donald Trump, the President of the United States, arrived in Beijing on May 13, beginning a three-day state visit. According to Yonhap News, China’s state-run Xinhua News Agency reported that Trump’s Air Force One landed at Beijing Capital International Airport at 7:49 PM local time. This marks the first visit by a U.S. president to China in nine years, since Trump’s first term in November 2017. The visit comes amid ongoing tensions between the U.S. and China over trade tariffs, the Taiwan issue, and the situation in the Middle East, drawing significant international attention. On May 14, the second day of his visit, Trump is scheduled to hold a summit with Chinese President Xi Jinping at the Great Hall of the People in Beijing. The two leaders last met in October during the Asia-Pacific Economic Cooperation (APEC) summit in Busan. During the upcoming talks, they are expected to discuss trade and tariff issues, as well as matters concerning Taiwan and Iran. Before departing the White House on May 12, Trump told reporters, "There is a lot to discuss with President Xi, and trade will be a primary focus." When asked about his message to Xi regarding the conflict in Iran, he replied, "We will have a long conversation about that. He is my friend, and good things will happen." Following the summit, Trump plans to tour the Temple of Heaven in Beijing with Xi and will attend a state banquet at the Great Hall of the People that evening. On the final day, May 15, the two leaders will continue discussions over a small tea meeting and lunch.* This article has been translated by AI. 2026-05-13 21:18:56