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As 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.
Dividend 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.
South Korea's Financial Services Commission announced plans to set up an AI-based insurance fraud prevention system this year, citing 1.15 trillion won in detected fraud last year but warning the true figure could reach 9 trillion won. The regulator also outlined measures to strengthen cooperation against online phishing, including upgrading fraud detection systems, swiftly freezing suspect accounts, and launching voice phishing insurance products, while noting that an existing AI platform has already prevented billions in losses.
South 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.
South 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.
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.
US President Donald Trump says Iran is 'very much intent' on a deal but his administration is 'not satisfied' with current terms. Trump vowed the Strait of Hormuz will remain open to all, as the White House dismissed Iranian reports of a provisional agreement as a 'complete fabrication.'
President Donald Trump told a cabinet meeting that the US is 'not satisfied' yet with the terms of a deal being negotiated with Iran, though Tehran is 'very much intent' on reaching an agreement. Secretary of State Marco Rubio cited 'some progress' in talks, while the White House has branded a reported draft agreement a 'complete fabrication'.
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.
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 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.