Government Inspects Rainwater Management Facilities Ahead of Summer Flood Season Government officials conducted an on-site inspection of urban flood response facilities in the Sinwol-dong area of Yangcheon District, Seoul, ahead of the summer natural disaster response period. The inspection aimed to assess the management of drainage infrastructure, including the deep underground rainwater tunnel, drainage inlets, and manhole fall prevention systems, in preparation for heavy rainfall and urban flooding.On May 14, the Ministry of Climate, Energy and Environment announced that May 14, 2026

Air Force Chief Son Seok-rak Announces Early Retirement for F-5 Fighters Air Force Chief Son Seok-rak announced plans to accelerate the retirement of the long-serving F-5 fighter jets from 2030 to 2027. During a meeting with defense reporters in Seongnam, Gyeonggi Province, on May 13, Son stated, "We are preparing for the F-5 fighters to retire honorably before the end of next year." He added, "We will push for the introduction of low-cost unmanned systems like LUCAS, which can be deployed in large numbers at the beginning of a conflict by the early 20 May 14, 2026

Jung Won-oh Apologizes for Past Assault Incident Jung Won-oh, the Democratic Party's candidate for Seoul mayor, apologized on May 14 for a past assault incident, stating he would express his regrets again if necessary. After attending a forum hosted by the Korea Newspaper and Broadcasting Editors Association in Jung-gu, Seoul, Jung addressed claims from the victim's side that they had never received an apology. "It seems that due to the long passage of time, they may not have a clear memory of the event," he said. "I did apologize at May 14, 2026

Japanese Prime Minister Takaiichi to Visit South Korea for Summit with President Lee Japanese Prime Minister Sanae Takaiichi is scheduled to visit South Korea on May 19-20 for a summit with President Lee Jae-myung, the Japanese government reported to its parliament on May 14. According to Japanese media, including TBS News, Chief Cabinet Secretary Masanao Ozaki conveyed the details of Takaiichi's visit during a meeting of the House of Representatives' Committee on Rules and Administration. The upcoming summit is part of a "shuttle diplomacy" initiative, where the leaders May 14, 2026

Naver Shares Rise on Acquisition Hopes for Woowa Brothers Naver's stock price has shown strong gains amid speculation about its potential acquisition of Woowa Brothers, the operator of the popular food delivery service Baedal Minjok (Baemin). According to the Korea Exchange, as of 1:33 PM on May 14, Naver shares were trading at 211,500 won, up 4.96% from the previous trading day. The stock opened at 204,000 won, a 1.24% increase from the last close, and quickly gained momentum, reaching a peak of 216,000 won during the session. However, some pr May 14, 2026

Law Firm Gwangjang to Discuss Stock Price Control Prevention Law Strategies Law Firm Gwangjang announced on May 14 that it will conduct a lecture on May 22 for KOSDAQ members, focusing on key legal issues affecting corporate management and capital markets, including the mandatory cancellation of treasury stocks and the so-called "stock price control prevention law." The lecture aims to assess corporate management risks arising from recent changes in commercial law and capital market regulations and to share response strategies. It will consist of three sessions: May 14, 2026

Samsung Union Declares No Reason to Negotiate with Government or Company, Moves Toward Strike As Samsung Electronics and the Central Labor Relations Commission proposed additional talks to avert a total strike, the union has effectively rejected the offer, signaling an escalation in tensions. On May 14, Samsung Electronics sent a formal letter to the National Samsung Electronics Union and the Samsung Group's inter-company union, stating, "We propose additional discussions between labor and management." The company noted that while both sides had shared their views during recent m May 14, 2026

Wall Street Turns Its Attention to South Korean Stocks Beyond Semiconductors The South Korean stock market is emerging as a new investment destination for Wall Street, fueled by the surge in artificial intelligence (AI) and semiconductors. Beyond the soaring stock prices of SK Hynix and Samsung Electronics, companies like SK Square and Samsung Life, which hold stakes in these firms, are also attracting global investors' attention. Two years ago, foreign capital was primarily focused on reevaluating the Japanese stock market, but that gaze is now shifting toward Ko May 14, 2026

Labor Commission Requests Resumption of Samsung Negotiations Ahead of Strike Samsung Electronics' labor union is preparing for a general strike in seven days, as the Central Labor Commission has requested a resumption of mediation talks. On May 14, the commission stated, "We have requested that the labor and management of Samsung Electronics resume mediation talks on May 16, encouraging both sides to engage in sincere dialogue and substantial negotiations to resolve their differences autonomously." Previously, labor and management engaged in mediation procedures May 14, 2026

South Korea to Conduct Simultaneous Tax Investigations with European Countries The National Tax Service (NTS) of South Korea is set to conduct simultaneous tax investigations with local tax authorities in Europe targeting high-value tax delinquents who have hidden assets abroad. This initiative marks a significant step in international cooperation aimed at recovering unpaid taxes through tracking overseas hidden assets. On May 14, the NTS announced that Im Kwang-hyun, the head of the agency, visited Hungary, Belgium, and the United Kingdom to sign memorandums of und May 14, 2026