Woori Bank to Manage 886 Trillion Won of National Pension Fund's Foreign Assets Woori Bank has been selected as the preferred bidder to manage the National Pension Service's (NPS) foreign assets, totaling 886 trillion won. The announcement was made on May 8, marking the first selection of a foreign currency custodian bank since 2021. The contract will run from August 2026 to July 2031.The foreign currency custodian bank will oversee foreign exchange transactions, the opening and closing of foreign currency accounts, and the management of foreign funds during the NPS's overs May 8, 2026

April Apartment Sales Reach Highest Level in 3.5 Years Last month, the number of private apartment sales in South Korea reached its highest level in three and a half years. While supply surged, many analysts view this as a backlog of delayed projects rather than a true market recovery. However, there are signs of supply normalization as annual sales plans increase. According to an analysis by Realhouse, a property evaluation firm, 24,315 private apartments were supplied nationwide in April, marking a 117.3% increase from March's 11,188 units. May 8, 2026

Hyundai Motor Group Appoints Choi Jun-young as Head of Labor Policy Hyundai Motor Group has appointed Choi Jun-young, president of Kia, as the head of its labor policy division. On May 8, the group announced several executive appointments aimed at strengthening labor and production operations. Choi will oversee the policy development department, which is tasked with responding to the rapidly changing labor environment, including the implementation of the Yellow Envelope Law (amendments to Articles 2 and 3 of the Labor Union Act). Choi is recognized fo May 8, 2026

Tesla Model Y Becomes First to Pass New ADAS Test in the U.S. Tesla's Model Y has become the first vehicle to pass the U.S. government's new Advanced Driver Assistance Systems (ADAS) test. On May 8, Reuters reported that the National Highway Traffic Safety Administration (NHTSA) announced the 2026 Model Y as the first vehicle to successfully complete the new ADAS evaluation. This assessment is part of NHTSA's New Car Assessment Program (NCAP) and was implemented for the 2026 model year. The evaluation applies to Model Y vehicles produced after Nov May 8, 2026

Google Allows AI Tools in Software Engineer Interviews Google is piloting a new approach in its software developer interviews that allows candidates to use artificial intelligence (AI) tools. This initiative aims to assess not only coding skills but also the ability to leverage AI for problem-solving and result verification. On May 8, Business Insider reported that Google is revising its software engineer interview process based on internal documents. The company is testing the use of AI assistance in certain coding interview stages. Initiall May 8, 2026

Jung Cheong-rae Criticizes Opposition for Boycotting Constitutional Vote Jung Cheong-rae, leader of the Democratic Party, criticized the opposition People Power Party on May 8 for its absence during the previous day's constitutional vote, calling it "cowardly." During a Supreme Council meeting in Songpa, he stated, "It is cowardly to claim that the content of the constitutional amendment is not strongly opposed and to call it rushed. They should just say they oppose it." He added that such behavior raises concerns about the party's constitutionality. Han May 8, 2026

South Korea's Current Account Surplus Hits Record $37.3 Billion in March In March, South Korea recorded a historic current account surplus exceeding 54 trillion won, driven by strong semiconductor exports. Despite ongoing conflicts in the Middle East, the surplus trend is expected to continue. According to preliminary statistics released by the Bank of Korea on May 8, the current account surplus for March was $37.33 billion (approximately 54.4 trillion won), marking the second-longest streak of surpluses since 2000 at 35 consecutive months. This figure signifi May 8, 2026

Song Eon-seok: The Democratic Party Should Change Its Name to 'Arrogant Party' Song Eon-seok, floor leader of the People Power Party, criticized the Democratic Party on May 8, suggesting it should change its name to "Arrogant Party" due to recent gaffes. He warned that the party would face public judgment in the upcoming local elections. During a meeting at the National Assembly, Song remarked, "The recent outrageous comments from the Democratic Party reveal its arrogance." He cited a statement from Democratic Party lawmaker Park Seong-jun, who claimed that most c May 8, 2026

Controversy Surrounds Bang Si-hyuk's Arrest Warrant The debate over an arrest warrant for Bang Si-hyuk, chairman of HYBE, continues. Police argue for the necessity of an arrest based on allegations of fraudulent trading under the Capital Markets Act, while prosecutors have rejected the warrant due to incomplete investigations. The process is as crucial as the outcome; what is needed now is careful deliberation based on principles and strict adherence to procedures.It is essential to clarify that actions undermining the capital market cannot be ta May 8, 2026

Naver Launches Special Page for 9th Local Elections with Enhanced Comment Policies Naver is taking steps to ensure accurate election information and combat false comments and automated activities ahead of the 9th Local Elections on June 3. Naver launched its "Special Page for the 9th Local Elections" on May 7, detailing its comment policies for political and election news, as well as a feature for reporting false comments. The special page includes curated election articles from various media outlets, localized election news, public opinion polls, key election dates, and May 8, 2026