Jollibee Appoints Former Samsung Executive Myung-Joo Song as CEO of Shabu All Day A former Samsung Electronics executive has been appointed as the new CEO of Shabu All Day, a shabu-shabu brand. This marks the first executive appointment since the global restaurant company Jollibee Foods Group acquired All Day Fresh. All Day Fresh announced on May 13 that it has appointed Myung-Joo Song, a former vice president at Samsung Electronics, as its new CEO. Song joined Samsung Electronics as part of its first female graduate recruitment program and worked there for over May 13, 2026

KOSPI Rebounds Dramatically, Closing at Record High of 7,844 The KOSPI index rebounded dramatically, closing at a record high after initially dropping below 7,400. The index finished above 7,800, buoyed by buying from individual and institutional investors. On May 13, the Korea Exchange reported that the KOSPI closed at 7,844.01, up 200.86 points (2.63%) from the previous trading day. The index opened at 7,513.65, down 129.50 points (1.69%), and fell to the 7,400 level shortly after the market opened but quickly reversed its losses. Lee Kyung-mi May 13, 2026

National Security Chief: No Evidence to Confirm Drone Attack on Namwoo Wiesungrak, head of the National Security Office, stated on May 13 that there is no evidence to confirm that the aircraft involved in the incident with the Namwoo in the Strait of Hormuz was a drone. Speaking at a meeting with the Korean Newspaper and Broadcasting Editors Association in Seoul, Wiesungrak emphasized the need for further investigation, saying, "We do not have grounds to conclude that this is a drone. We need to consider the results of the investigation so far and conduct May 13, 2026

Ministry of Interior and Safety Prepares for Second Round of High Oil Price Relief Payments The Ministry of Interior and Safety held a meeting on May 13 with planning and coordination heads from 17 cities and provinces to review preparations for the second round of high oil price relief payments, set to begin on May 18. During the meeting, officials addressed inconveniences experienced by residents during the first round of payments and requested local governments to ensure a smoother process for the upcoming distribution. Since the second round aims to cover 70% of the populati May 13, 2026

MBC News Desk Remarks Spark Controversy Over Samsung's Role in Semiconductor Industry Recent remarks made during the closing segment of MBC's "News Desk" have ignited controversy, seemingly targeting Samsung Electronics amid the ongoing SK Hynix bonus dispute. The contentious comments were made by the anchor during a recent broadcast, stating, "While many employees' hard work contributed to Samsung Electronics' rise as a leading global semiconductor company, it is important to recognize the extensive support from the government, including tax benefits and infrastructure d May 13, 2026

Chinese Workers Demand Bonus Increases from Samsung and SK Hynix Samsung Electronics and SK Hynix are facing demands for bonus increases from their local employees in China, prompting reactions from South Korean netizens. On May 6, New Daily reported that employees at Samsung's semiconductor plant in Xi'an and SK Hynix's facility in Wuxi are advocating for higher bonuses. An industry insider noted, "Local hires at overseas subsidiaries are aware of how much headquarters employees earn, which is why they are clamoring for more bonuses. News about Samsun May 13, 2026

When Will the 2026 Rainy Season Begin in Korea? The 2026 rainy season in South Korea is expected to start around the same time as in previous years and last for about a month. According to weather observations from 1991 to 2020, the typical pattern of the monsoon begins in Jeju Island, followed by the southern and central regions of the country. Based on this pattern, the anticipated start dates for the 2026 rainy season are as follows: Jeju Island is expected to see the onset between June 19 and 21, the southern region around June 23 May 13, 2026

LS Cable Expands Eco-Friendly Copper Material Business with New Factory in Gunsan LS Cable is making a significant move into the eco-friendly copper material sector by establishing a resource recycling supply chain. With the demand for copper surging due to the expansion of AI data centers and power grids, the company aims to secure competitiveness from the material stage onward. On May 12, LS Cable announced that its subsidiary, Korea Future Materials, has inaugurated a factory in Gunsan, South Korea, and commenced mass production of eco-friendly advanced materials, i May 12, 2026

High-Level Strategic Coordination Needed Amid U.S.-South Korea Tensions As a summit between U.S. President Donald Trump and Chinese President Xi Jinping approaches, tensions in Northeast Asia and global supply chains are rising. The U.S. and China continue to clash over tariffs, rare earth elements, semiconductors, and security issues, while also accelerating efforts to manage their conflicts. Amid this shifting global order, concerns are growing that South Korea is failing to assert clear leadership in coordinating key issues with the United States. Currently, sens May 12, 2026

South Korea Records Highest GDP Growth Among Major Economies in Q1 South Korea achieved the highest GDP growth rate among major economies in the first quarter of this year. According to the Bank of Korea's economic statistics system, the country's real GDP growth rate for the first quarter was 1.694% compared to the previous quarter, the highest among major nations that have released preliminary figures so far. Considering that the economy had contracted in the fourth quarter of last year, this rebound was unexpected. The surge in exports, particularly in semic May 12, 2026