UAE and Israel Strengthen Ties Amid Iran Conflict, Netanyahu's Secret Visit Reported The United Arab Emirates (UAE) and Israel are deepening their ties amid the ongoing conflict with Iran. Reports have emerged that Israeli Prime Minister Benjamin Netanyahu made a secret visit to the UAE during the war, signaling a new phase in the relationship between the two nations. On May 14, the Israeli Prime Minister's Office announced via social media platform X (formerly Twitter) that "Prime Minister Netanyahu secretly visited the UAE during Operation Lion's Roar and met with UAE Pr May 14, 2026

Experts Say Shortening Approval Process Alone Won't Solve Housing Supply Issues Seoul mayoral candidates from both major parties are competing to present promises for redevelopment projects, but experts agree that simply shortening the approval process will not resolve the housing supply crisis. They point out that the proposals lack specific alternatives to address the core issues of regulatory conflicts and rising construction costs. Additionally, both candidates have failed to present short-term measures for non-apartment housing to alleviate the immediate supply shortag May 14, 2026

Nexon Reports Record Q1 Revenue of 1.42 Trillion Won, Eyes 5 Trillion Won Annual Milestone Nexon achieved a record revenue of 1.42 trillion won in the first quarter of 2026, marking its highest quarterly performance to date. The company is now poised to become the first in the domestic gaming industry to surpass 5 trillion won in annual revenue. Nexon previously exceeded 4 trillion won in annual revenue in 2024, a first for a South Korean game company. On May 14, Nexon reported first-quarter revenue of 1.42 trillion won, operating profit of 542.6 billion won, and net profit of May 14, 2026

Candidates Clash Over Housing Supply Plans Ahead of Seoul Mayor Election The race for the Seoul mayoral election is narrowing down to a competition between Democratic Party candidate Jeong Won-o and People Power Party candidate Oh Se-hoon over housing supply promises. Both candidates emphasize accelerating the housing supply by streamlining administrative procedures, but doubts remain about the feasibility of their funding plans and timelines. Concerns are growing about potential physical limitations and procurement challenges, highlighting the need for a concrete ex May 14, 2026

POSCO Holdings Partners with Korea Development Bank to Support Non-Metropolitan Startups POSCO Holdings has partnered with the Korea Development Bank (KDB) to attract investment and support the growth of startups outside the metropolitan areas. POSCO Holdings announced on May 14 that it signed a memorandum of understanding with KDB at Ground Gwangyang to collaborate on revitalizing the venture ecosystem and promoting balanced regional development. The agreement aims to combine POSCO Group's venture development capabilities with KDB's financial support infrastructure to disc May 14, 2026

US-China Summit Complicates South Korea's Strategic Calculations U.S. President Donald Trump and Chinese President Xi Jinping held a summit in Beijing on May 14. The meeting addressed key issues affecting the global economy and security, including tariffs, semiconductors, rare earth elements, artificial intelligence, Taiwan, and the Middle East. While the summit appeared to focus on stabilizing relations and managing conflicts, the reality is more complex. The U.S. and China have already entered a so-called 'tariff truce' by temporarily easing mutual tariffs. May 14, 2026

LH Conducts Special Inspection at Incheon Gyeyang, First Site for Third New Town Residents The Korea Land and Housing Corporation (LH) announced on May 14 that it conducted a special inspection at the Incheon Gyeyang Techno Valley public housing site, where the first residents of the third new town are expected to move in by the end of this year.On this day, Acting President Jo Kyung-sook visited the A2 block (747 public sale units) and A3 block (538 newlywed hope town units), where housing finishing works are underway. Jo listened to concerns from site officials and discussed solutio May 14, 2026

Korea Investment & Securities to Compensate Belgian Fund Investors 50.2% Korea Investment & Securities has reportedly compensated investors in the "Belgian real estate fund" approximately 50.2% of their losses. Initially, the firm offered limited voluntary compensation to some investors, but it has since expanded the scope to include all investors. This decision is said to reflect a significant commitment to consumer protection by President Kim Seong-hwan.According to the Financial Supervisory Service and the financial investment industry on May 14, Korea Investment May 14, 2026

KCC Achieves Historic '0% Miracle' in Korean Basketball Busan KCC has made history by becoming the first sixth-place team to win the championship in the history of professional basketball in South Korea, capping off the 2025-2026 season with an unprecedented achievement. The team also set significant milestones for both its players and coaching staff, marking a notable chapter in Korean basketball. KCC triumphed over Goyang Sono, winning 76-68 in the fifth game of the 2025-2026 KBL Championship Finals held at Goyang Sono Arena on May 13. With th May 14, 2026

Trump and Xi Meet: Implications of Their Summit U.S. President Donald Trump and Chinese President Xi Jinping met again in Beijing on May 14. The summit between the world's top superpower and the second-largest economy is always a significant event that can influence global order, but this meeting carries particular weight and symbolism. The backdrop includes the ongoing war in Ukraine, conflicts in the Middle East, competition for dominance in artificial intelligence (AI), the semiconductor race, issues surrounding Taiwan, control of r May 14, 2026