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AI summaryAs BTS prepares for two concerts in Busan, South Korean officials have pledged stern measures against price gouging and other illicit practices targeting tourists. President Lee Jae Myung warned that overcharging could tarnish the city's image, while the government plans inspections and alternative accommodations.
AI summaryDividend payouts by South Korean listed firms rose about 17 percent in 2025 to 37.7 trillion won, data showed. Separately, the government received a record 2.79 trillion won in dividends from state-invested companies.
AI summarySouth Korea's central bank has lifted its 2026 economic growth forecast to 2.6 percent, up 0.6 percentage points, citing robust semiconductor exports. The bank also raised its inflation outlook to 2.7 percent, while highlighting uncertainties from Middle East tensions and a weak won.
AI summarySouth Korean Foreign Minister Cho Hyun and National Security Adviser Wi Sung-lac met with Singaporean Foreign Minister Vivian Balakrishnan in Seoul, asking for Singapore's support in creating conditions for dialogue with North Korea. Balakrishnan's visit followed stops in China and North Korea, where he met with North Korean Foreign Minister Choe Son-hui. Officials expressed hope for gradual engagement despite current frosty inter-Korean relations.
AI summaryOil prices rose on Thursday while Asian stocks mostly fell as fresh US strikes on Iran tested a shaky ceasefire. Brent crude climbed to $95.95 a barrel, while Iran's state media reported it fired at ships in the Strait of Hormuz and Kuwait said its air defenses responded to attacks.
AI summaryThe 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.
AI summaryIndia’s $10 billion plan to develop Great Nicobar Island into a military and logistics hub near the Strait of Malacca has gained momentum amid global energy tensions. But the project faces criticism from environmental groups and opposition leaders over its impact on indigenous tribes and forests.
AI summaryA 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.
AI summaryThe 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%.
AI summarySouth 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.
AI summaryThe 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.
AI summaryKakao 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.
AI summarySouth 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.
AI summaryKakao 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.
AI summaryDong 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.
AI summaryGhana have included midfielder Thomas Partey in their provisional 28-man squad for the 2026 World Cup despite him facing criminal charges in the UK. Partey has pleaded not guilty to seven counts of rape and one count of sexual assault and is due to stand trial next year. The squad announcement also confirmed that Mohammed Kudus will miss the tournament through injury.
AI summarySouth 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.
AI summarySouth 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.
AI summarySouth 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.
AI summaryUnionized 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.