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The Bank of Korea kept its benchmark interest rate at 2.5 percent for an eighth consecutive meeting, citing Middle East uncertainty, while raising its 2026 growth forecast to 2.6 percent and its inflation projection to 2.7 percent. The central bank signaled it may hike rates if inflationary pressures continue to build.
A South Korean court on Thursday rejected a request to formally arrest Chinese dissident Dong Guangping, who fled China in a rubber boat and was detained after arriving in South Korean waters. The court cited insufficient grounds for detention, while authorities consider temporary placement options.
The Bank of Korea kept its benchmark interest rate unchanged at 2.5% for the eighth straight meeting, as lingering Middle East uncertainty and rising inflation prompt a cautious stance. The central bank hinted at a possible hawkish shift while raising its 2026 growth outlook to 2.6%.
South Korea's customs agency has reported a significant increase in drug seizures, including 1.1 kilograms of illegal drugs through a new international mail surveillance program and 3,233 kilograms overall since June last year. The agency plans to expand technology investments, including AI, to further combat smuggling.
The U.S.-South Korea alliance remains committed to a 'conditions-based' transfer of wartime operational control, according to officials, even as reports surface of growing differences over the timeline and conditions for the handover.
Two men were stabbed at an LG Electronics office in western Seoul on May 27, with the suspect, an employee of a partner company, later apprehended. The suspect claims he acted out of sudden anger after being notified of dismissal, alleging harassment, while the victims deny the claims. A Seoul court granted an arrest warrant for the suspect on May 29.
Kakao Corp. CEO Chung Shin-a apologized after labor and management failed to reach an agreement in the second round of mediation over wages. Unionized workers at five units have approved a strike, and a demonstration is planned near headquarters in June.
The LG Twins overcame a five-run deficit to beat the Lotte Giants 8-6, thanks to a pinch-hit triple by Moon Jeong-bin. The win made the Twins the first KBO team to reach 30 victories this season.
South Korea's foreign ministry said anti-ship missiles developed and used by Iran were likely used in an attack on a South Korean-operated vessel in the Strait of Hormuz on May 4. The ministry did not determine who fired the missiles or whether the attack was intentional. Iran's ambassador denied involvement.
Kakao Corp.'s labor union and management are undergoing a second round of mediation with the Gyeonggi Regional Labor Relations Commission as the union threatens a partial walkout. The dispute centers on performance-based incentives and compensation structure, with broader implications for South Korea's tech industry.
Dong Guangping, a Chinese dissident and former police officer, was detained by South Korean authorities after fleeing China in a rubber boat, spending 30 hours at sea. He has a history of attempted escapes and imprisonment for his activism, and his lawyer says the case is likely to be a political asylum request.
South Korean authorities arrested YouTuber Kim Se-ui for allegedly using AI-generated audio and manipulated messages to defame actor Kim Soo-hyun, falsely claiming he dated a minor. A Seoul court issued an arrest warrant citing flight risk and evidence destruction concerns. Kim Soo-hyun's agency says the truth has been proven, and the actor is preparing to resume work.
South Korea's foreign ministry is set to reveal the results of its investigation into the May 4 attack on the HMM Namu in the Strait of Hormuz. Initial reports suggest Iranian-made anti-ship missiles may have been used, and Seoul plans to summon Iran's ambassador.
South Korea's KOSPI closed at a record 8,288.7 on Wednesday, marking a fourth consecutive session of gains, driven by a strong rally in Samsung Electronics and SK hynix. The country's benchmark index also saw record daily average trading volumes surpassing 40 trillion won in May. Analysts attribute the surge to concentrated investment in AI-related industries despite economic slowdown concerns.
Unionized workers at Samsung Electronics voted to approve a wage agreement, with 73.7% of the two largest unions' 62,616 members backing the deal. The agreement includes a special semiconductor performance bonus of 10.5% of business performance earnings, paid in company stock over at least 10 years. A minority union is continuing a legal challenge against the deal.
President Lee Jae Myung has pledged government support to foster shipping and port industries as national strategic sectors, unveiling plans for a global maritime hub in Busan and a new Arctic shipping route. His regional commitments, however, have sparked debate over election-season motivations.
South Korea has formally announced plans to build its first nuclear-powered attack submarine by the mid-2030s, with US endorsement but lingering disputes over construction location, nuclear fuel supplies, and trade commitments. Analysts note the program is part of a broader regional undersea arms race involving China, North Korea, and Japan.
South Korea's industry ministry announced a comprehensive initiative to bolster the country's shipbuilding sector, focusing on AI transformation, financial support for smaller firms, and expanding global partnerships. The plan includes significant investments and collaboration with major shipbuilders and banks.
North Korea announced Wednesday that it tested a newly developed lightweight multi-purpose missile launching system and tactical cruise missiles, with leader Kim Jong Un overseeing the exercise. State media said the tests evaluated a special mission warhead for tactical ballistic missiles and demonstrated progress in modernizing the country's artillery and missile forces.
South Korea’s KOSPI closed above 8,000 points for the first time on May 26, 2026, rising 2.55 percent as foreign investors returned to net buying on optimism over a possible U.S.-Iran peace framework. The rally, driven largely by AI-linked semiconductor shares, has lifted Korean equity market capitalization well past earlier milestones and above the estimated value of the greater Seoul housing market.