Japanese Prime Minister Kono to Visit South Korea for Shuttle Diplomacy South Korea's Blue House announced on May 15 that Japanese Prime Minister Sanae Takaichi will visit Andong, South Korea, from May 19 to 20 at the invitation of President Lee Jae-myung.In a written briefing, Chief Spokesperson Kang Yoo-cheong explained that Takaichi's visit comes about four months after President Lee's trip to Japan in January, marking the first reciprocal hometown visit between the leaders of the two nations.On the first day of the visit, May 19, the two leaders will hold both s May 15, 2026

Middle East Risk Eases as Foreign Capital Outflow Declines in April Last month, improved investor sentiment significantly reduced the outflow of foreign capital from the stock market. Bond funds transitioned to net inflows following their inclusion in the World Government Bond Index (WGBI). According to the Bank of Korea's report on international finance and foreign exchange trends released on May 15, foreign securities (stocks and bonds) saw a net outflow of $2.13 billion in April. This indicates that the amount of foreign investment leaving the South Ko May 15, 2026

Jung Won-oh Promises Additional 2.5 Trillion Won in Local Love Gift Certificates Jung Won-oh, the Democratic Party's candidate for Seoul mayor, has pledged to issue an additional 2.5 trillion won in local love gift certificates. He also intensified his criticism of Oh Se-hoon, the candidate from the People Power Party, regarding his debate stance and the 'Garden of Gratitude'. At a press conference held on the morning of May 15 at the National Assembly in Yeouido, Jung stated, "Local love gift certificates are the most effective livelihood policy to alleviate citizens May 15, 2026

First Case of Apple Fire Blight Detected in Chungju; Alert Level Raised On May 15, the Rural Development Administration (RDA) raised the alert level to caution after the first case of fire blight was detected this year in an apple orchard in Chungju, North Chungcheong Province.According to the RDA, the disease was discovered during a routine inspection period this month, following a report from a local farm. Officials from the Chungju Agricultural Technology Center conducted a preliminary test on May 14, which returned a positive result. Subsequent detailed testing May 15, 2026

Seoul Housing Prices Rise After End of Capital Gains Tax Exemption Seoul's housing prices have resumed their upward trend following the end of the capital gains tax exemption. Even Gangnam has turned positive, while areas like Seongbuk and Jongno have recorded their highest growth rates since statistics began, reflecting a significant increase in mid-priced apartment areas. According to the Korea Real Estate Agency's April national housing price trend survey released on May 15, the comprehensive housing price index in Seoul rose by 0.55%. The increa May 15, 2026

Wonju DB Basketball Team Appoints Lee Gyu-seob as New Head Coach Wonju DB has appointed Lee Gyu-seob, the former head coach of Busan KCC, as its new head coach. The DB team announced on May 15 that it has signed a three-year contract with Lee, who will lead the team until May 2029. Lee, a graduate of Korea University, was selected first overall in the 2000 rookie draft and played for Seoul Samsung. He won the Rookie of the Year award in his debut season and significantly contributed to the team's championships in the 2000-2001 and 2005-2006 seasons. Ad May 15, 2026

Han Byeong-do Criticizes Jang Dong-hyuk for Disrespectful Remarks Towards President Lee Han Byeong-do, the floor leader of the Democratic Party, criticized Jang Dong-hyuk, the leader of the People Power Party, for his disrespectful comments directed at President Lee Jae-myung. He urged Jang to maintain the dignity expected of the leader of the main opposition party. During a Central Election Campaign Committee meeting held in Jeju on May 15, Han stated, "Jang has been using informal language towards President Lee, the head of state, and engaging in slander and defamation." May 15, 2026

SM Vexel Returns to Profitability in Q1 with 500 Million Won Operating Income SM Vexel, a manufacturing affiliate of the SM Group, has successfully returned to profitability in the first quarter. According to a disclosure on May 15, SM Vexel reported consolidated sales of 36.6 billion won and an operating income of 500 million won for the first quarter of this year. While these figures show a slight decline compared to the same period last year (sales of 42.2 billion won and operating income of 800 million won), they represent an improvement over the previous quart May 15, 2026

AI Boom and Hormuz Crisis Create Diverging Economic Trends in Asia The booming artificial intelligence (AI) sector and the blockade of the Hormuz Strait are sharply dividing the economic landscape in Asia. While semiconductor powerhouses South Korea and Taiwan are experiencing unprecedented growth, manufacturing-heavy countries like India, Thailand, and the Philippines are suffering from a historic oil price shock. Economists describe this phenomenon as an "Asian K-shaped recovery," where the benefits of the AI boom and the pains of fuel shortages are movi May 15, 2026

Man Arrested for Allegedly Kidnapping Woman in Nowon District A man in his 50s has been arrested by police in Seoul's Nowon District on suspicion of kidnapping a woman and holding her in a vehicle. The arrest followed a report from the victim's family, prompting police to track the vehicle and apprehend the suspect within approximately 25 minutes. According to Yonhap News, the Nowon Police Station arrested the suspect, identified as Mr. A, at around 10:10 p.m. on May 14, on charges of kidnapping and detention. Police received a call from the victim' May 15, 2026