South Korea announced a \'Global AI Hub\' vision with nine major international organisations and released a joint statement on May 21. The initiative aims to use artificial intelligence to address shared global challenges including climate crisis, health, food and refugees. The government held a launch event in Seoul with the organisations and five multilateral development banks. Participants plan working groups, phased implementation plans and ongoing communication channels.

Yoo Sang-dae (유상대), deputy governor of the Bank of Korea, publicly raised the possibility of a rate hike, saying it is time to consider stopping cuts and increasing rates. Speaking in Samarkand on May 3, he said growth has fallen less than feared since the Middle East war, while inflation has risen more than expected. He said inflation faces significant upward pressure and the possibility of a signal at the May 28 meeting remains open.