Neowiz Reports 1st Quarter Operating Profit of 7 Billion Won, Down 32% Year-on-Year Neowiz reported growth in revenue due to the performance of its live intellectual property (IP) games, but its operating profit fell 32% compared to the same period last year. Increased revenue from mobile games led to higher platform fees and revenue sharing costs. On May 11, Neowiz announced that its consolidated revenue for the first quarter of 2026 reached 101.4 billion won, a 14% increase year-on-year. However, operating profit dropped to 7 billion won, a decrease of 32% from the prev May 11, 2026

Jung Cheong-rae Reaffirms Commitment to Victory in Gangwon Ahead of Local Elections Jung Cheong-rae, leader of the Democratic Party, reaffirmed his commitment to winning the local elections on May 11, emphasizing the need for unity among candidates for Gangwon governor and local council members. He urged that they must work together for the future of both South Korea and Gangwon Province. At a candidate selection meeting in Chuncheon, Jung stated, "Our slogan and banner for the June 3 local elections is 'Normalization of the Nation and Efficient Local Government.'" He e May 11, 2026

Special Prosecutors Investigate Prosecutors Over Allegations of Covering Up Deutsche Motors Case The second special prosecution team, led by Special Prosecutor Kwon Chang-young, is investigating prosecutors from the Seoul Central District Prosecutor's Office over allegations of covering up the stock manipulation case involving Kim Geon-hee and Deutsche Motors. The special prosecutors are focusing on whether there was any interference from the prosecution leadership or the presidential office during the decision not to prosecute Kim. On the morning of May 11, the special prosecutors May 11, 2026

First Comprehensive Review of 'Blue Seed' Retirement Pension for SMEs The government has initiated its first review of the 'Blue Seed' retirement pension system designed for workers in small and medium enterprises (SMEs). This assessment aims to ensure the stability of fund management and internal controls ahead of an expansion of eligible participants. On May 11, the Ministry of Employment and Labor announced that it, along with the Financial Supervisory Service, will conduct a comprehensive review of the Blue Seed fund over the next two weeks. This marks May 11, 2026

Increase in Choking Incidents Among Infants and Seniors Prompts Consumer Safety Alert As incidents of choking due to foreign object ingestion among infants and seniors continue to rise, the government has issued a consumer safety alert.On May 11, the Fair Trade Commission reported that last year, the Korea Consumer Agency's Consumer Hazard Monitoring System (CISS) recorded 809 cases of foreign object ingestion. Over the past five years, the trend has shown fluctuations: 728 cases in 2021, 949 in 2022, 972 in 2023, and a temporary decrease to 655 in 2024, followed by a rise again May 11, 2026

Government Launches Pilot Project for Comprehensive Management of Refrigerants The government is set to launch a pilot project aimed at managing the entire lifecycle of hydrofluorocarbon (HFC) refrigerants, from usage to recovery, regeneration, and disposal. This initiative seeks to reduce greenhouse gas emissions resulting from refrigerant leaks and to lay the groundwork for future legislation on refrigerant management. The Ministry of Climate, Energy, and Environment and the Korea Environment Corporation announced that they will hold a kickoff meeting for the 'Refrigera May 11, 2026

Government Implements Dispute Resolution System for Chemical Registration Delays As disputes over costs between companies have led to delays in chemical substance registrations, the government is taking formal steps to mediate these conflicts. The aim is to maintain the principle of shared use of testing data for the same substances while reducing registration delays and the burdens of production and export.The Ministry of Environment and Energy announced on May 10 that a system to resolve disputes arising during the chemical registration process will be officially implement May 11, 2026

KDI: Rising International Oil Prices Could Increase Inflation by 1.6% Rising international oil prices, triggered by the conflict in the Middle East, could increase South Korea's consumer price inflation rate by as much as 1.6 percentage points this year, according to a report from a national research institute. The report also suggests that core inflation, which has been less affected by oil price fluctuations, may rise by 0.1 percentage points. The Korea Development Institute (KDI) released its report on May 11, analyzing the effects of recent increases in i May 11, 2026

Employment Insurance Enrollment Rises by Nearly 200,000 for Four Consecutive Months The number of regular enrollees in employment insurance has increased by nearly 200,000 for four consecutive months, driven by growth in the service sector. However, the manufacturing and construction industries continue to see declines, and the employment situation for those under 29 remains challenging. According to the Ministry of Labor's "Labor Market Trends Based on April Employment Statistics" released on May 11, the total number of regular enrollees in employment insurance reached 1 May 11, 2026

Jung Kyung-tae Announces Candidacy for National Assembly Vice Speaker Jung Kyung-tae, a member of the People Power Party, has declared his candidacy for the position of Vice Speaker of the National Assembly, describing himself as the only six-term lawmaker who has experienced both progressive and conservative politics in South Korea.At a press conference held on May 11 in the National Assembly's communication hall, Jung stated, "I will become a Vice Speaker who listens to the rational and sensible voices of the people, opening a new chapter of cooperation and chec May 11, 2026