National Assembly Passes 115 Bills Including AI Data Center and Defense Semiconductor Laws The legal framework to support the activation of artificial intelligence (AI) data centers has been established. Additionally, a law to support the development of defense semiconductors has been enacted. On May 7, the National Assembly passed 115 bills, including the 'Special Act on the Promotion of the AI Data Center Industry' and the 'Law on the Development and Support of Defense Semiconductors.' A proposed constitutional amendment was not voted on due to a lack of quorum. The AI Dat May 7, 2026

Hoshino Resort Redefines Travel Standards in Guam with 'Regeneration Philosophy' Hoshino Resort is setting new travel standards in Guam, focusing on 'experience' over 'relaxation' and 'value' over 'price.' With over a century of history, the Hoshino Resort Group is applying its unique 'regeneration philosophy' to the global stage, starting with the transformation of 'Rizonare Guam.' On May 7, Hoshino Resort held a press conference in Seoul to unveil its brand vision and the Guam resort regeneration project. Founded in 1914, Hoshino Resort operates 74 facilities worldwi May 7, 2026

Winning Attitude Leads to Lottery Success: 314th Pension Lottery Results "I always think positively, and when I buy a lottery ticket, I believe, 'This time, something good will happen!'" On May 7, attention is focused on the results of the 314th Pension Lottery 720+, while stories of winners from the 291st round are trending. Recently, a winner shared their experience on the Donghaeng Lottery winners' board, stating, "I buy lottery tickets weekly as a hobby. I always think positively, and when I buy a ticket, I believe, 'This time, something good will happen!' May 7, 2026

People Power Party Nominates Cho Yang-deok for Jeonju Mayor The People Power Party's nomination committee announced on May 7 that it has recommended Cho Yang-deok as the sole candidate for the mayor of Jeonju. Park Deok-heum, the head of the committee, stated that Cho possesses extensive experience across academia, media, and the arts, making him a well-suited candidate for the position. In Gyeongnam, the planned primary for the Uiryeong, Ham-an, and Geochang county mayoral races has been canceled due to disagreements among candidates. The committee May 7, 2026

South Korea and Japan Hold First Deputy-Level Security Talks South Korea and Japan's senior officials discussed security cooperation on May 7 in Seoul. The meeting, the 14th Korea-Japan Security Policy Council, was attended by South Korea's First Deputy Foreign Minister Park Yoon-joo and Deputy Minister of National Defense Lee Doo-hee, along with Japan's Deputy Foreign Minister Takehiro Funakoshi and Defense Policy Director Koji Kano. This meeting marked a shift from previous director-level discussions to deputy-level talks.According to the Foreign Minist May 7, 2026

New Agricultural Land Law Mandates Leasing for Non-Operating Owners Owners of inherited or abandoned farmland must now lease their land to the Korea Rural Community Corporation under a new agricultural land law that has passed the National Assembly. Additionally, local governments are required to issue disposal orders for any violations of the Agricultural Land Law. According to the Ministry of Agriculture, Food and Rural Affairs, the revised law aims to support comprehensive land surveys and promote efficient land use. The amendment eliminates the m May 7, 2026

South Korea Establishes Arctic Route Committee to Boost Development The South Korean government is set to accelerate its Arctic route development initiative with the establishment of a new Arctic Route Committee under the Prime Minister's office, which will also focus on training professionals in related fields. On May 7, the Ministry of Oceans and Fisheries announced that three key bills—"Sustainable Coastal Fisheries Development Act," "Special Act on Promoting the Use of the Arctic Route and Supporting Related Industries," and amendments to the "Shipping May 7, 2026

Woori Bank Selected to Manage $886 Billion National Pension Fund's Foreign Assets Woori Bank has been selected as the preferred negotiator to manage the National Pension Service's (NPS) $886 billion in foreign assets. This decision, announced on May 7, reinforces Woori Bank's status as a leader in foreign exchange management after successfully holding the custody since August 2021. The NPS plans to finalize the contract with Woori Bank in June. If negotiations fail, they will engage with the next preferred candidate. The initial contract period is three years, with the possib May 7, 2026

Police Reapply for Arrest Warrant for Bang Si-hyuk After Prosecutor Rejection Police have refiled an arrest warrant for Bang Si-hyuk, chairman of HYBE, who is accused of deceiving investors into selling shares ahead of the company's IPO. This comes just six days after prosecutors rejected the initial warrant, citing insufficient justification for detention. According to reports on May 7, the Seoul Metropolitan Police's Financial Crime Investigation Unit submitted the warrant application on April 30, targeting Bang for fraudulent trading under the Capital Markets Ac May 7, 2026

Nikkei Hits Record High with 3,320-Point Surge Japan's stock market recorded its largest single-day gain on the first trading day after the Golden Week holiday. The Nikkei 225 index closed on May 7 at 62,833.84, up 3,320.72 points (5.58%), setting a new record. During trading, it briefly surpassed 63,000 for the first time. This increase exceeded the previous record gain of 3,217 points following the 'Black Monday' crash in August 2024. However, the percentage increase did not rank among the top 20 in history due to the high index leve May 7, 2026