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Samsung Heavy Industries has secured a contract to build a floating LNG facility, with reports differing on the deal's value and timeline. One report cites a 3.65 trillion-won deal with an African client, while another mentions a 4.33 trillion-won agreement with a North American client. A third report links the project to Louisiana, with government investment support.
A special counsel team has requested a two-year prison sentence for former South Korean President Yoon Suk Yeol over alleged violations of the Public Officials Election Act during his 2022 campaign. Separately, police have referred Yoon to prosecutors for allegedly failing to report a luxury bag received by his wife, who is also on trial. Yoon was earlier sentenced to life imprisonment for his role in a martial law attempt.
South Korean stocks crashed more than 8% on Monday, triggering a circuit breaker, as investors fled tech shares amid U.S. inflation fears and AI profitability concerns. The won initially hit a 17-year low before rebounding after financial authorities' verbal intervention.
South Korea's financial authorities issued a joint statement warning of strict action against excessive volatility and one-sided movements in the foreign exchange market, citing speculative transactions such as non-deliverable forwards. The won has fallen sharply against the U.S. dollar, prompting an emergency meeting of top economic officials.
Chinese President Xi Jinping arrived in Pyongyang for a two-day state visit, his first in nearly seven years, and was personally welcomed by North Korean leader Kim Jong-un at the airport. The visit underscores China's efforts to reinforce ties with its traditional ally amid growing intimacy with Russia, while the US and Japan reaffirmed their commitment to North Korea's complete denuclearization.
Trade officials from South Korea and Kazakhstan met to explore expanding cooperation in energy, supply chains, and other areas, discussing a potential comprehensive economic partnership agreement. The talks also covered Korean firms' participation in Kazakhstan's urban development projects and cooperation in digital and eco-friendly industries.
Chun In-gee finished fourth and Kim Sei-young fifth at the 81st U.S. Women's Open, as Nelly Korda won her latest major. Both Koreans reflected on near misses, while rankings shifts followed the tournament.
Chinese President Xi Jinping published an op-ed in North Korea's Rodong Sinmun calling for deeper strategic communication and unwavering bilateral ties ahead of his first state visit to Pyongyang in nearly seven years. Xi emphasized a multipolar world, inclusive economic globalization, and upholding the UN-centered international system.
President Lee Jae Myung will hold a press conference on June 8 at Cheong Wa Dae to mark the first anniversary of his inauguration, where he will review his first year and outline policy goals for the second year. The event, his fourth since taking office, will cover economic, political, and social issues.
President Lee Jae Myung of South Korea has expressed deep regret over ballot shortages that disrupted local elections, ordered a joint investigation by prosecutors and police, and proposed fundamental reform of the National Election Commission, possibly through a constitutional amendment. Thousands of protesters have demanded a rerun, while the president has rejected claims of election fraud.
South Korea's top financial policymakers have vowed to take stern action against speculative trading amid the won's sharp decline to its weakest level since 2009. The government is launching inspections into possible illegal foreign exchange activities, while the customs agency has uncovered hundreds of billions of won in illegal trading this year.
South Korean President Lee Jae Myung has nominated Han Seong-sook, the minister for SMEs and Startups, as the next prime minister. If confirmed by the National Assembly, she would become the first female prime minister of the Lee administration and the second in the country's history. Han, a former Naver CEO, is expected to lead an AI transformation, and a confirmation hearing is scheduled for next week.
South Korean protesters rallied for a ninth day over ballot shortages that disrupted local elections, demanding a new vote. The demonstrations have drawn thousands, with President Lee Jae Myung urging restraint and ordering an investigation into the incident.
South Korea's cosmetics exports reached $5.6 billion in the January-May period, making beauty products the country's top consumer export item for the first time. Driven by growing demand in the U.S. and Europe, the industry has also seen its trade surplus exceed $10 billion, with the government vowing to foster it as a new export engine.
Kim Yo-jong, sister of North Korean leader Kim Jong-un, declared the country's nuclear weapons status 'absolutely irreversible' and rejected international calls for denuclearization as an 'anachronistic dream,' responding to G7 statements and US-China summit discussions.
During his four-day visit to South Korea, Nvidia CEO Jensen Huang met with the heads of Krafton and NCSoft, discussing collaboration beyond gaming, including AI. He also appeared on a popular Korean talk show and engaged with local gaming communities.
South Korea's former President Yoon Suk Yeol was questioned by a special counsel team over allegations he directed officials to send messages to allies justifying his martial law declaration. Yoon denied the main allegations, according to his lawyer. The questioning lasted about two hours, with Yoon at the office for roughly six and a half hours.
President Lee Jae Myung marked Memorial Day by emphasizing the nation's duty to honor those who died in service, while Prime Minister Kim Min-seok highlighted government support for patriots and their families. Lee also spoke at a repatriation ceremony underscoring the South Korea-U.S. alliance.
North Korean leader Kim Jong Un observed sea trials of the 5,000-tonne destroyer Kang Kon, pledging to accelerate efforts to build a nuclear-armed navy. The event comes ahead of a scheduled visit by Chinese leader Xi Jinping, highlighting deepening ties between the two countries.
Chef Austin Kang has partnered with Major League Baseball on the MLB Breakfast Club, a campaign inviting South Korean fans to watch morning games at his Seoul restaurant Mukjung. Former players Eric Thames, Kim Byung-hyun and Dustin Nippert joined the launch, highlighting food and shared baseball culture. The initiative aims to weave MLB viewing into fans’ daily routines through themed dishes and watch parties.