boom

TONOPAH, Nev. — Some years ago, Harry Chahal and his wife were on a trip to Las Vegas when, like countless motorists before and since, they passed through this high desert speck of a town.

Tonopah, built by the mining industry around 1900 and depleted as the gold, silver, lead and mercury waned, is a remote way station about halfway between Reno and Las Vegas. Signs on either side warn — ominously, given the unforgiving expanse ahead — that once you’ve left, the nearest gas station is not for another 100 miles or so.

Harry Chahal opened hometown pizza in 2015 after driving through town and seeing there was no pizza place.

(Mark Z. Barabak / Los Angeles Times)

As he passed through town, Chahal noticed something missing: a pizza parlor.

Pizza is not generally associated with Punjab, India, where Chahal — given name Harvarinderjit — is originally from. But he learned how to make pizza, and how much customers loved gobbling it up, while working at different gas station mini-marts around rural Nevada.

In that absence, Chahal saw opportunity.

He and his wife, Ravinder, moved to Tonopah and in 2015 opened Hometown Pizza in a vacant building on U.S. Route 95, which runs through the heart of town. Ten years later, they bought the Dream Inn Motel, a 39-room operation just up the road.

Views of the 47th president, from the ground up

Lately, Chahal has been sprucing up the motor inn: new cabinets, new furniture, fresh paint every few months. The reason is President Trump.

Tonopah and the surrounding desert, stretching farther than the eye can reckon, is verging on a boom, owing to vast reserves of lithium, boron and other sought-after materials and a Trump administration promise to turn the U.S., in the words of Interior Secretary Doug Burgum, into “a mineral powerhouse once again.”

Chahal, 40, is a repeat Trump voter and even though he has issues with some of what the president has done — he’s not happy about the war with Iran and inflation has taken a decent-sized bite out of his pizza business — he feels his faith in Republicans in general and Trump in particular have paid off.

A registered nonpartisan, Chahal is fairly apolitical. “I vote for Republicans because they’re better for business,” he said as a lunch-time crowd of locals and folks passing through tucked into the $11.99 pizza-and-salad buffet. Here’s proof: In the last year, Chahal said, he’s seen motel occupancy increase significantly, from around 15 rooms rented each night to 25 or more.

Those fresh touches to the Dream Inn are Chahal’s investment in the future and a belief that, with Trump in office, even better times lie ahead.

Tonopah was built as a mining town around 1900. It’s fortunes have waxed and mostly waned.

(Mel Melcon / Los Angeles Times)

::

For much of its being, Tonopah relied on metal, minerals and other valuables scooped from the earth. Today, government is the largest employer.

But mining continues to hold fast to the town’s imagination.

A headframe — that’s the tower built directly over an underground mine shaft — is part of Tonopah’s logo. Mining-related sculptures, including statues of Jim and Belle Butler, who staked the first claim in the 20th century silver rush, dot the main thoroughfare. The high school’s athletes are called the “Muckers,” after those who shovel ore into underground rail cars.

The Tonopah Historic Mining Park is a big tourist attraction, along with the Clown Motel and other lodging establishments supposedly haunted by the ghosts of dead miners and other paranormal phenomena. (Chahal says there are no apparitions at the Dream Inn.)

The Clown Motel, which draws visitors from around the world, is said to be haunted by the ghosts of dead miners.

(Christopher Reynolds / Los Angeles Times)

Lately, however, mining is becoming more than just a part of nostalgic lore. It’s poised to again be a major boon to the local economy and the town’s 3,000 residents.

Plans are underway for a new lithium and boron mine at Rhyolite Ridge, approximately 30 miles southwest of Tonopah, in Nevada’s Silver Peak Range. (Lithium, most of which is now imported, is a vital ingredient in the batteries that store solar energy and power electric vehicles; boron is used, among other things, for bulletproof armor and vests.)

About 27 miles to the south of Tonopah, near the town of Goldfield, a new gold mine is set to open in 2028.

Joe Westerlund, Tonopah’s town manager, said fresh development and the prospect of hundreds of new, good-paying jobs are much welcomed. The median income here is about $37,000 annually, less than half the state average. The hospital in town closed in 2015. Venture off U.S. 95 and the rolling hills are flecked with weathered miner’s cottages and tumbledown homes no longer fit for habitation.

(A three-bedroom, two-bath home in a comfy subdivision on the north end of town can be had for around $250,000, but don’t hurry over to buy; inventory is low and could grow even leaner if demand for housing increases.)

The Tonopah Historic Mining Park is a big local tourist attraction.

(Mark Z. Barabak / Los Angeles Times)

While some of the groundwork for the mining resurgence was laid during the Biden administration, Trump is credited with fostering a much friendlier regulatory environment, which promises even more opportunities for extraction.

“As soon as he got into office, things started loosening up. We had 15 drill rigs,” said Westerlund, who has lived in Tonopah since 1972. “I had never seen that before in my life.”

There are, of course, environmental concerns — about pollution, water supply, native habitat — but those worries haven’t gained much of a toehold. Nye County, which is home to Tonopah, isn’t exactly tree-hugger country — and not just because most of the land is scrub-filled desert. Trump carried Nye County all three times he ran, with landslide support ranging from 68% to 70%.

“This is a pro-Trump town,” Westerlund said, “and I feel like his policies are doing good for the town.”

Chahal stands ready to cash in, knowing firsthand what economic good times feel like.

The Mizpah hotel, opened in 1908, offers the plushest accommodations in town.

(Chris Erskine / Los Angeles Times)

When he moved here in 2014, he and his wife were forced to stay in a motel for six months because workers finishing up a $1 billion solar energy project were taking up most of the living space. That’s the kind of extended-stay guest he’s after, not the tourists bedding at the Mizpah Hotel, the plushest resort in town, with its cut-glass chandeliers, Victorian furnishings and photo gallery of celebrities who’ve stayed the night.

“If I can rent 25 rooms a night, maybe 15 can be for the long term” of several weeks at a time, Chahal said. He’s done the math — $82 a night for a queen bed, single occupancy; $89 for a king — and likes how it pencils out.

::

Chahal came to the U.S. in 2006, after marrying Ravinder, who grew up in the Sacramento area. She had family in Punjab and was a regular visitor to India. The two met when they were 10 years old. Chahal became an American citizen in 2020.

Politically, Indian Americans lean heavily toward the Democratic Party. But in the tiny Nevada communities where the couple lived — Lovelock, Battle Mountain and Ely before Tonopah — there was little or no Indian American presence. So Chahal wasn’t acculturated into the party the way many others have been. Rather, he embraced the GOP gospel of lower taxes and less regulation.

Working seven days a week, Chahal has little time these days for politics, beyond voting. He isn’t particularly ideological or, for that matter, worshipful of Trump.

“Every coin has a head and a tail,” he said, flipping his wrist as though tossing a quarter in the air. He sees two sides to the president. “Maybe you’re angry for some things,” Chahal said. “Maybe you agree with some things.”

He supports the notion of tariffs as a way of bringing manufacturing jobs back to the U.S. He also laments that the pizza boxes he uses, which are made in China, once cost him 30 cents and now run almost 67 cents apiece.

He backs Trump’s promise to round up and deport violent criminals who are in the country illegally. But he’s also mindful of the important role immigrants play, especially in areas like farming and construction, in sustaining the U.S. economy.

Chahal criticized the heavy-handed enforcement that resulted in the killing of two protesters in Minnesota. But he blamed their deaths on overzealous ICE agents, not Trump.

Living in a town greatly shaped by outside forces — the fluctuation of commodity prices, the changing of presidential administrations, the shifting priorities emanating from Washington — Chahal is familiar with vicissitudes and the business cycles of boom and bust.

Not everything Trump has done has helped the mining industry.

His tariffs and inflation have greatly increased construction costs. Cuts to the federal workforce have slowed the oversight and approval processes. His hostility toward green energy has dampened the market for electric vehicles and made solar energy considerably less attractive.

But based on the talk around town, Chahal believes a more prosperous future is in the offing. He certainly hopes so, and he’s counting on the president to deliver.

If the Constitution allowed for a third term, Chahal said, he wouldn’t hesitate voting for Trump again.

THE release of Rivals series two has thrust the Cotswolds into the spotlight once more.

Brits are seeking out the pretty scenery of Rutshire with its stone cottages, rolling countryside and delightful pubs in beautiful villages like Kemble.

Data from Trainline revealed that since Rivals returned on May 18, passengers to Cotswolds ‘gateway stations’ have risen by an average of 22 per cent.

That includes the tiny town of Kemble which is a 12-minute drive away from Cirencester.

Kemble is considered a ‘rail gateway’ for the southern Cotswolds as it’s one of the smaller spots that actually has a train station and a direct link to London.

With Great Western Railway, visitors can get from London Paddington to Kemble in just over an hour.

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The small train station was built in 1882 and is now a listed building.

It’s considered one of the prettiest in the country thanks to retaining its original Victorian features.

It even has its old water tower which was once used to fill steam trains that called by the station.

Outside of the train station and visitors can easily explore Kemble, as it’s pretty tiny.

Kemble has a school, village hall, village shop, Cotswold-stone clad cottages and a pub called The Tavern Inn.

The Tavern Inn is a mere 10-minute walk from the train station and is ideal for a pint pit stop or hearty pub grub.

One visitor to the pub said: “Fantastic Spot. What a lovely place. From the moment you step inside you know you have found a gem.”

Another added: “Food and staff fantastic home from home feel – a lovely beautiful spot.”

A third said it serves up the ‘best’ Sunday roast.

The village is popular with hikers too, many take on the River Thames walk.

From Kemble, this walk takes you to Thames Head which is the official source of the River Thames.

Heading south, the path heads to the Cotswold Country Park & Beach which has the UK’s largest inland beach.

Along with the beach, it has swimming lagoons, snack huts and visitors can get on the water with paddleboards, pedalo swans or rowing boats.

During the summer it also has a huge aqua inflatable.

Right next door to the village is Cotswold Airport which is mostly used for private jets and charters.

But it is open to the public on certain weekend for events.

This year, Cotswold Airport Open Weekend is between July 4-5 with an aircraft, vintage aircraft displays, classic cars, live music and tours.

For those who want a great view of the runway, the airport has its own restaurant called AV8 where visitors sit on the terrace and look out over the airfield.

Other villages in the Cotswolds that have seen an increase in visitors since the release of series two of Rivals are Moreton-in-Marsh and Charlbury.

Benchmark Nikkei 225 tops 68,000 for first time as AI-driven buying frenzy shows no signs of slowing down.

Japan’s stock market has hit an all-time high as a global buying frenzy driven by AI shows no signs of slowing down.

The Nikkei 225 rose nearly 3 percent on Wednesday, lifting the benchmark index above 68,000 for the first time.

The latest surge continues a banner year for Japan’s stock market, which is up nearly 33 percent so far in 2026.

“Investor enthusiasm over the AI boom is helping drive Asian equity markets higher,” Khoon Goh, head of Asia research at ANZ, told Al Jazeera.

“While strong demand for high-end chips has seen the top semiconductor companies in Taiwan and South Korea rally strongly, this is also benefiting Japanese markets, which are also getting some tailwind from a weak yen.”

Japanese firms involved in the semiconductor business led the gains.

Tokyo Electron, Japan’s largest manufacturer of semiconductor equipment, soared as much as 14 percent in morning trading.

Advantest, which supplies testing equipment to the semiconductor industry, rose more than 5.5 percent.

Shin-Etsu Chemical, a supplier of silicon wafers used in integrated circuits, gained about 4 percent.

Softbank, which is heavily invested in AI models, chips and data centers, fell about 3 percent, after overtaking auto giant Toyota on Monday to become Japan’s biggest company by market capitalisation.

Ferocious demand for AI chips has been driving record-breaking rallies in stock markets across the globe, taking key indexes in the US, Japan, South Korea, Taiwan to record highs.

During the past month, three memory chip makers – South Korea’s SK Hynix and Samsung Electronics, and US-based Micron – entered the elite club of firms with a market capitalistion of at least $1 trillion.

Only 17 companies have hit the milestone, all but five of which are based in the United States.

Despite concerns about the sustainability of the sky-high valuations in the sector among some investors, tech companies are continuing to commit huge sums to AI-related infrastructure.

US tech giants are expected to spend about $800bn on AI-related capital investment in 2026, according to Goldman Sachs.

Google parent company Alphabet on Monday became the latest Silicon Valley giant to outline its AI-related investment plans, announcing that it would sell $80bn worth of shares to help fund expected capital expenditures of $180-190bn in 2026.

More than 1,000 workers, union members and retirees marching toward downtown Caracas were blocked by riot police during a May Day demonstration. Chanting, “A bonus is not a salary,” they took to the streets in Caracas to protest the only-modest increase in the so-called comprehensive minimum wage, from the equivalent of $190 per month to $240. A short distance away, a small group of workers — convened by the Bolivarian Socialist Workers Federation of Venezuela — celebrated the raise. For the first time in over 20 years, the government had not organized a large rally. Instead, it provided a concert — a Festival for Peace — featuring dozens of international performers.

“People are really happy. They are dancing in the streets because there is a lot of money coming in through the big oil companies,” U.S. President Donald Trump said a few days later. His administration is still managing a political transition process following U.S. military attacks and the abduction of Venezuelan President Nicolás Maduro earlier this year.

But even ultraright-wing polling firms such as Meganálisis suggest Trump is wrong about the mood in Venezuela. According to the firm, the proportion of Venezuelans who are “grateful” to the U.S. for its intervention has dropped from 92% in January to just 47% in April. Trump’s attempt to cast himself as the savior of Venezuela’s economy isn’t working — especially as Venezuelans say they haven’t seen any improvements since January, nor since the U.S. imposed economically devastating sanctions in 2015.

Wages are too low

Rafael Venegas, Jacques Derose and Yrma Rivero have different work situations. Venegas works in the public sector, Derose is in the private sector and Rivero is self-employed. But all three have something in common: Their income is not enough to live on.

Venegas is 70 years old and has spent 14 years teaching undergraduate and graduate courses at the Central University of Venezuela, the country’s oldest and largest higher education institution. However, his latest proof-of-employment document, seen by Truthdig, shows his salary is the equivalent of $1.37 a month. Any benefits like severance pay, end-of-year bonus and holiday pay are calculated based on that amount.

At the same time, Venegas, who survived a stroke and who is looking after his 93-year-old mother, receives — as all public sector workers do — a monthly food bonus of $40, and what is called an “economic war bonus” worth $150. The explanation is as simple as it is complex: Venezuela’s legal minimum wage has been frozen at 130 bolivars (about 27 cents) a month for four years. To bring actual take-home income closer to a living wage, workers get monthly bonuses paid in bolivars at the official exchange rate. Together, these amounts are known as the “comprehensive wage” and are only for formal workers.

Thirty kilometers away, Derose, a 27-year-old who dropped out of the university to work at a hardware store in La Guaira, receives a comprehensive wage of $200 a month, which may sometimes go up to $230 or $260 if he takes on extra work loading or moving merchandise.

Derose, who does not have children, tells Truthdig that his income goes to food, transit and paying rent for a single room. The room costs $120, while an apartment in Caracas costs at least $250 a month.

“That’s why my other two brothers, though they’re older, are still living with our parents,” he says.

Meanwhile, Rivero travels around the city cleaning apartments to support herself, as well as her son’s university studies. 

“He got into a public university, but we spend a lot on transportation and food, not to mention medical expenses. Right now, my son has severe sinusitis, and an MRI of his sinuses costs $300,” she says.

She charges $30 to $40 for each deep clean, depending on the size of the property. She tries to have at least four clients a week in order to earn around $400 a month. As the highest earner of the three, Rivero’s situation illustrates why many young people are choosing not to study but to work informally or in trades instead.

All three workers tell Truthdig they use the same strategy to get by: working multiple jobs. Venegas earns intermittent extra income by proofreading books or giving workshops, Derose works as a bricklayer some weekends and Rivero sometimes irons or cooks. They all say that no one can get by on less than $400 a month, and a family of five requires at least $1,500.

According to the Caracas-based, union-run research center Center for Documentation and Social Analysis, the basic food basket for a family of five, which includes 61 essential products, reached $703.11 in March, a 7.2% increase from February. Venezuelans must also pay for transportation or gasoline, utilities, rent or condominium fees, medicine, clothing and much more.

Thousands of workers, especially in sectors like education, healthcare and public services, share this sentiment and have been protesting in the streets of Caracas for weeks, demanding a living wage. But how would that be achieved?

“It would be difficult to have a salary — not bonuses, but a legal minimum wage — that covers basic needs. But there are no ethical or economic reasons to keep it at 27 cents,” Hermes Pérez, economist and former head of the Exchange Desk at the Central Bank of Venezuela, tells Truthdig.

He says the legal minimum wage should be at least $300, but that’s not feasible for either the public or private sector. “The resources simply aren’t there, and since wages are practically zero, raising them to that level would be very expensive. But at least $70 or $100 would be possible. Furthermore, it’s estimated that Venezuelan revenues will grow significantly in 2026 compared to last year. We received $18 billion in oil revenues alone in 2025, and that amount could rise to $33 billion,” Pérez says. Despite attempts at diversification, oil remains Venezuela’s primary source of foreign currency, and the country is dependent on oil revenue to finance public spending.

Pérez stresses that a key indicator must be addressed regardless of how much salaries increase: inflation. “According to the Central Bank, Venezuela ended 2025 with an annual inflation rate of 465%, and by March 2026 it was already at 650%. That’s enormous. In Colombia, for example, inflation is around 5%, and in Latin America, in general, it’s in the single digits,” he says.

“It’s not just the isolated [price] increase of one or two things; it’s the generalized increase across the board. Given this context, it’s very difficult for the average worker to actually perceive any economic improvement.”

Economist Asdrúbal Oliveros agrees. He believes the country will enter a phase of recovery in purchasing power this year, but a “notably slow” one, as Venezuela must first increase incomes, sustainably reduce inflation and stabilize the exchange rate.

Venezuelan government response

On April 8, acting President Delcy Rodríguez took a stance for the first time on low wages and precarious working conditions in the country. She acknowledged some of the problems and noted that there are more pensioners (5.7 million) than formally employed workers (5.3 million), a figure that reveals the extremely high rate of informality that now prevails in Venezuela.

On May 1, Rodríguez then announced a 26% income increase through the country’s bonus system. This raised the comprehensive minimum wage — which includes the official minimum wage and bonuses — from $190 to $240 per month by increasing the economic war bonus by $50. For pensioners, the war bonus increased from $58 to $70. She also announced a one-off “professional recognition” bonus for the education, health and security sectors of around $195, with the exact amount varying by job.

Organizations such as the Professors Association of the Central University of Venezuela rejected “the policy of replacing salaries with bonuses,” which they argued do not affect workers’ social security contributions and “ignore merit, experience and seniority.” The workers also demanded respect for salary scales and collective bargaining agreements. 

The acting president acknowledged that the $240 increase is “insufficient” but said it is “a responsible increase” to improve purchasing power “without generating an excessive inflationary impact.” According to the Central Bank, annual inflation in Venezuela reached 130,000% in 2018, the peak of a four-year hyperinflationary period that ended in 2021. It was then that the government decided to freeze wages and implement a bonus policy to avoid a relapse.

However, some economists also attribute the high inflation rates to the uncontrolled issuance of money by the Central Bank to finance the fiscal deficit. Unions argue that the economy will not collapse from paying off labor liabilities like wages and benefits.

“For the past four years, salaries have been frozen and increases through bonuses have been meager. So, clearly, workers’ salaries or benefits haven’t contributed to causing the current inflation rates,” Venegas says. “There are millions of us in the public sector, but benefits are only received by those who retire, resign or are dismissed — a small amount per year.” 

Venegas believes the government and business leaders are currently colluding to try to reform the Organic Law of Labor and Workers (LOTTT) in order to eliminate the country’s social benefits system. 

The LOTTT, passed by then-President Hugo Chávez in 2012, is considered a bastion of workers’ rights. Among its provisions, it prohibits unjustified dismissal and subcontracting, provides 26 weeks of maternity leave, guarantees the right to work for women and people with disabilities and extends retirement pensions to all workers, including full-time mothers and the self-employed.

Now, businesspeople have argued at the Council of the International Labour Organization for reform of the LOTTT, especially Article 104, which defines what constitutes a salary, and Article 122, which establishes the basis for calculating social benefits and severance pay. They say the current model of accumulating social benefits would be structurally unsustainable if the legal minimum wage is increased.

The U.S. decides

Amid these debates, the acting Venezuelan president has said that the economic situation of workers will improve “progressively” thanks to restored relations with the U.S. and the recovery of oil production, which — after some relaxing of sanctions — has exceeded 1.2 million barrels per day.

“In 2025, Venezuela produced a similar average number of barrels, but they were sold at a 30% to 35% discount to get around the sanctions,” sociologist and political analyst Franco Vielma said on X. These discounts acted as a key economic incentive for private buyers and intermediaries to assume the high legal and financial risk of violating the sanctions imposed by the U.S. Furthermore, the price per barrel exceeded $126 at the end of April 2026, reaching its highest level in four years due to the conflict between the United States and Iran.

Rodríguez has said the latest salary increase is backed by oil and fuel oil income. But Venezuelans still do not know how much oil revenue they are receiving, where it is deposited, what percentage the U.S. is getting or what the new agreements mean.

In January, Trump stated that the U.S. would control Venezuelan oil sales, saying Venezuela would submit monthly budgets to the White House, which would then be reviewed by auditors. Rodríguez said at the time that citizens could track every oil dollar through a new website. However, this website has not materialized. 

The United States, after attacking Venezuela four months ago and, according to the Venezuelan Anti-Blockade Observatory, having imposed 1,081 sanctions on the country since 2015, has argued that increased oil income will benefit Venezuelans. Trump asserted in January that Venezuela would experience “an unprecedented economic upswing … It will earn more money in six months than in the last 20 years.”

In this regard, the U.S. Office of Foreign Assets Control issued 14 licenses in April that allow for the development of the Venezuelan oil sector and the possibility of conducting banking transactions with Venezuela, although each transaction requires OFAC approval. Payments in gold or cryptocurrencies are prohibited; Venezuela cannot trade with China, Russia, Iran, North Korea or Cuba; and the country’s frozen assets will not be released. Crucially, all revenues from oil and mineral exports must be deposited into accounts controlled by the U.S. Treasury Department, which then decides when and how much to return to Venezuela from its own resources.

Although the international media has framed this as a “lifting of sanctions,” the licenses granted by the U.S. are only conditional and temporary permits that allow some oil and banking operations in Venezuela. Executive orders blocking state assets and controlling and supervising the operations of the state oil company PDVSA remain in place, limiting the legal certainty that is necessary for long-term investments.

Many Venezuelans did believe the economic situation would improve after Jan. 3. In fact, some pollsters claimed that 70% to 80% of the population then had “hope for the future.” Now, in April, according to an AtlasIntel poll, 77% of Venezuelans rate the current economic situation as “bad,” and 76% hold a negative opinion about the state of the labor market. 

According to Datanálisis, economic despair also prevails, with 55% of those surveyed identifying inflation and low wages as their main problems. These worries are followed by devaluation and failures in the electrical system.

Datanálisis also found in April that 65% of the population agrees that Venezuela’s priority should be resolving the economic crisis above any political transformation or electoral process. However, Trump hinted on May 12 that beyond the current intervention, he’s also “seriously considering” making Venezuela the 51st U.S. state, posting a map of the country with a U.S. flag. Joke, threat or a reflection of how Trump already sees Venezuela, Venezuelans have much to worry about.

The views expressed in this article are the author’s own and do not necessarily reflect those of the Venezuelanalysis editorial staff.

Source: Truthdig

The presidential chief of staff for policy on Tuesday proposed introducing public dividends to distribute the “fruits” from an artificial intelligence (AI)-driven economic boom.

Kim Yong-beom made the suggestion in a Facebook post, as the benchmark Korea Composite Stock Price Index (KOSPI), the country’s main stock index, was heading toward the record-high 8,000-point mark, driven by gains in chipmakers, including Samsung Electronics Co. and SK hynix Inc.

The companies posted record-high profits in the first quarter, highlighting their leadership in the global chip market amid the AI boom.

“The fruits of the AI infrastructure era are not the results generated by certain companies alone … they were produced on a foundation that all the people have built together over half a century,” the presidential policy chief wrote.

He argued that deliberating on how to use the proceeds would “not be optional but necessary if (the companies’) strategic advantage in the distribution network for AI infrastructure creates a structural upcycle and that, in turn, leads to record-breaking tax revenues.”

“Part of these fruits should be structurally returned to the people,” he said.

Kim referred to cases of foreign countries “socially institutionalizing structural excess profits,” such as Norway’s oil-generated profits in the 1990s, and suggested “public dividends” as the name for the program should South Korea introduce such a system.

The policy chief also listed a fund for young entrepreneurs launching startups, a pension program for the elderly and a fund for retraining in the AI era as possible areas that could benefit from the initiative, while stressing the need for social consensus in making such a decision.

“There’s a possibility that South Korea could become the first country to return excess profits from the AI era into people’s lives,” he noted.

Cheong Wa Dae later clarified that Kim’s proposal has nothing to do with any internal discussion or review at the presidential office, describing it as a “personal opinion.”

Copyright (c) Yonhap News Agency prohibits its content from being redistributed or reprinted without consent, and forbids the content from being learned and used by artificial intelligence systems.

April 26 (Asia Today) — Thousands of young job seekers took part in Samsung’s flagship hiring exam over the weekend, highlighting continued demand for positions at South Korea’s largest conglomerate despite broader labor market challenges.

The test, known as the GSAT, was conducted Saturday and Sunday for applicants across 18 affiliates, including Samsung Electronics, Samsung SDI and Samsung Electro-Mechanics.

Often referred to as the “Samsung exam,” the GSAT is a standardized aptitude test used in the company’s large-scale recruitment system, which has been maintained for 70 years – the longest among major South Korean firms.

Samsung said the exam has been conducted online since 2020 following the COVID-19 pandemic, allowing candidates to take the test remotely using personal computers. The company conducted system checks in advance to ensure stable network and device conditions for all applicants.

While the exact number of test-takers was not disclosed, analysts said strong participation reflects the company’s global leadership and profitability, particularly amid a boom in the semiconductor sector.

Samsung began accepting applications in March and will proceed with interviews in May, followed by medical screenings before finalizing hires.

The conglomerate’s open recruitment system, introduced in 1957, remains unique among South Korea’s largest business groups. While many companies have shifted toward experienced hires, Samsung continues to offer regular entry-level recruitment twice a year, providing more predictable opportunities for graduates.

According to a 2025 survey by the Federation of Korean Industries, university students cited reduced entry-level hiring as the biggest challenge in job searches. Samsung’s continued use of open recruitment has helped sustain its reputation as one of the most desirable employers in the country.

Lee Jae-yong has repeatedly emphasized job creation and talent development, saying earlier this year that the company has capacity to expand hiring. He has also pledged continued investment in high-value industries alongside overseas expansion.

Samsung plans to continue recruiting talent in semiconductors, as well as emerging sectors such as artificial intelligence and biotechnology, as it seeks to strengthen its global competitiveness.

The GSAT was first introduced in 1995 under former chairman Lee Kun-hee, who called for an objective and globally competitive hiring system. Since then, other major South Korean companies have developed similar aptitude tests for recruitment.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260426010008138

Martin Dugard is a prolific author and writer. He’s also an assistant cross-country coach at Santa Margarita after being head coach at JSerra for 15 years.

His newest book is “The Long Run,” which discusses the 1970s running boom and is a narrative history of four who sparked the marathon boom: Steve Prefontaine, Frank Shorter, Joan Benoit Samuelson and Grete Waitz.

He’s going to have a book signing on Saturday at 1 p.m. at Barnes & Noble, 26751 Aliso Creek Rd., Aliso Viejo.

Don’t be surprised if he tries to run from Rancho Santa Margarita to his book signing.

This is a daily look at the positive happenings in high school sports. To submit any news, please email eric.sondheimer@latimes.com.