Samsung and LG Challenge Netflix with Free Streaming Services Global TV manufacturers Samsung Electronics and LG Electronics are pivoting to ad-supported free streaming services (FAST) as hardware sales face limitations amid a prolonged downturn in the global TV market. The K-TV sector, once a leader in electronics, is evolving into a platform-driven industry.On May 14, industry sources reported that Samsung has made a bold move by replacing its TV business head, signaling an official commitment to expanding its FAST service, 'Samsung TV Plus.' The focus i May 14, 2026

KOSPI Hits Record High, Just 19 Points Away from 8000 The KOSPI continued its upward trend throughout the trading session, closing at a record high. Although it fell short of breaking the 8000 mark, it ended just 19 points shy of that milestone. On May 14, the Korea Exchange reported that the KOSPI rose by 137.40 points, or 1.75%, to close at 7981.41. The index opened at 7873.91, up 29.90 points, and steadily increased throughout the day. In terms of trading volume, both individual and institutional investors contributed to the index's ris May 14, 2026

Legal Risks for Companies Expanding Abroad: Solutions Sought at Joint Seminar As uncertainties in the global trade order deepen, a joint legal seminar was held to assist South Korean companies expanding abroad and to enhance their legal risk management capabilities. On May 14, the Ministry of Justice, in collaboration with the Korea Chamber of Commerce and Industry and the World Bank, hosted a seminar aimed at presenting the latest international regulatory trends and practical strategies for companies venturing overseas. This seminar was organized to explore effect May 14, 2026

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