Han Byeong-do Appeals for Support for Democratic Party Candidates in Local Elections Han Byeong-do, the floor leader of the Democratic Party, called on May 14 for support of the party's candidates in the upcoming June 3 local elections, stating that they are the best choice to revitalize local areas and normalize South Korea alongside the Lee Jae-myung administration. He also criticized Jang Dong-hyuk, the leader of the People Power Party, for his continuous negative remarks about government policies. During a policy coordination meeting held at the National Assembly, Han May 14, 2026

Democratic Party Urges Ulsan Mayoral Candidate Unification by May 15 The Democratic Party announced on May 14 that it is preferable to finalize the unification of candidates for the Ulsan mayoral election by the registration deadline of May 15. Kang Jun-hyun, the party's chief spokesperson, told reporters at the National Assembly that having the names of withdrawn candidates on the ballot could confuse voters. He added that discussions about unification are ongoing, with regular communication occurring at the provincial party level, including meetings w May 14, 2026

Jang Dong-hyuk Criticizes National Dividend Proposal as Gangster Mentality Jang Dong-hyuk, leader of the People Power Party, criticized the national dividend proposal mentioned by Kim Yong-beom, head of the Presidential Policy Office, stating, "The idea of taking money as if it were theirs while constantly obstructing is a typical gangster mentality." During a Supreme Council meeting at the National Assembly, Jang remarked, "Kim's national dividend is the true intention of Lee Jae-myung," adding, "Whether it’s excess profits or excess tax revenue, it’s not money earned May 14, 2026

'Michael' Tops Box Office on Opening Day with 100,000 Viewers On its opening day, the film 'Michael' secured the top spot at the box office.According to the Korean Film Council's integrated ticketing system, 'Michael,' which premiered the previous day, attracted 99,903 viewers, making it the number one film. The cumulative audience count stands at 118,493.'Michael' depicts the journey of Michael Jackson, who astonished the world with his innate musical talent and rose to become the King of Pop. The film, featuring legendary music and performances, drew aud May 14, 2026

Daehan Electric Wire Acquires 10,000-Ton Cable Laying Vessel to Enhance Undersea Cable Operations Daehan Electric Wire has strengthened its competitiveness in the undersea cable sector by acquiring a 10,000-ton dedicated cable laying vessel (CLV). As investments in offshore wind and international power grids expand, securing vessels has become crucial for winning contracts. The company aims to accelerate its entry into the global undersea cable market with a fleet of large CLVs. On May 14, Daehan Electric Wire announced that it has signed a purchase agreement for the Skandi Connector, May 14, 2026

Ministry of Culture to Boost Local Tourism through Traditional Market Innovations and Train Trails Amid promising signs of a significant leap in local tourism in the first quarter of this year, the Ministry of Culture, Sports and Tourism is accelerating this growth through innovations in traditional market services and the revitalization of rail tourism in the southern regions. According to data released by the ministry on April 14, 2026, indicators for regional visits and spending by South Koreans are on the rise. Domestic travel to local areas increased by 6.9% year-on-year to 39.31 m May 14, 2026

Microsoft Seeks to Reduce Dependence on OpenAI by Targeting AI Startups Microsoft is exploring acquisition and investment opportunities in artificial intelligence (AI) startups to reduce its dependence on OpenAI. The company aims to maintain its collaboration with OpenAI while simultaneously expanding its own AI models and talent pool to broaden its technological options. According to Reuters, on May 13, Microsoft is preparing a strategy to lessen its reliance on long-term partner OpenAI by considering potential acquisitions and investments in AI startups. So May 14, 2026

HD Hyundai to Support Partners Amid Ongoing Middle East Crisis HD Hyundai is stepping up to support its partners facing difficulties due to the prolonged conflict in the Middle East by expediting payments for materials. On May 14, HD Hyundai announced it would advance a total of 740 billion won in material payments by up to nine days. This decision comes in response to the increased financial burden on partners caused by global supply chain instability and rising raw material costs. In the shipbuilding and marine sectors, HD Hyundai Heavy Industries May 14, 2026

Alteogen Shares Surge 8% After Patent Ruling, Reclaims Top Spot in KOSDAQ Market Alteogen's shares jumped over 8% in early trading after news broke that the U.S. Patent Trial and Appeal Board (PTAB) eased the company's litigation burden. This surge has propelled Alteogen to reclaim the top position in market capitalization on the KOSDAQ. As of 9:58 a.m. on May 14, the Korea Exchange reported that Alteogen's stock was trading at 383,500 won, up 29,500 won (8.33%) from the previous trading day. The company's market capitalization now stands at 20.53 trillion won, surpa May 14, 2026

Cisco to Cut 4,000 Jobs as It Shifts Focus to AI Investments Networking equipment manufacturer Cisco announced plans to reduce its workforce by fewer than 4,000 employees, representing less than 5% of its total staff, as part of a strategy to increase investments in artificial intelligence (AI). Following the announcement, Cisco's stock surged nearly 20% in after-hours trading. On May 13, during its quarterly earnings report, Cisco revealed its intention to cut the workforce in the fourth quarter of fiscal year 2026 (May to July). This decision ali May 14, 2026