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

Court Upholds Ruling Against Regulatory Sanction on MBC The Seoul High Court has upheld a lower court's ruling that deemed the Korea Communications Commission's (KCC) sanctions against MBC for citing a News Tapa interview as unjust. On May 7, the court ruled in favor of MBC in its lawsuit against the KCC, mirroring the earlier decision. This case stems from a 2021 interview where Kim Man-bae, a major shareholder of Hwacheon Daeyu Asset Management, claimed that Yoon Seok-yeol, then head of the Supreme Prosecutors' Office, had intervened in the May 7, 2026

Samsung Leads ETF Market with 93% Returns, LG and Hyundai Lag Behind In the ongoing rally toward the "dream 7000-point" mark, Samsung Group has solidified its dominance in the domestic exchange-traded fund (ETF) market, achieving over 93% returns since the beginning of the year. In contrast, major companies like Hyundai and LG have underperformed, contributing to a growing disparity in returns. According to the Korea Exchange, as of May 7, ETFs tracking major conglomerates (excluding bonds) have shown that Samsung-related products dominate the top returns. May 7, 2026

Indian Ambassador Calls South Korea a Key Partner for India's 2047 Vision Indian Ambassador Goranglal Das described President Lee Jae-myung's recent state visit to India as a pivotal moment for the two nations, reflecting the deep interest both leaders have in strengthening bilateral relations. During a press briefing on May 7 at the Indian Embassy in Yongsan, Das stated, "This visit is the result of the special attention that Prime Minister Narendra Modi and President Lee have given to our relationship." He emphasized Modi's longstanding respect for South Kor May 7, 2026

Increase in Noncompliance Cases Among KOSPI Companies Amid Market Boom As the stock market continues to thrive, cases of noncompliance among listed companies have risen this year. While the total number of designations remains similar to last year, the number of KOSPI companies identified has surged by 30%. This increase is attributed to a series of corporate events leading to disclosure reversals and failures during the market's rapid ascent. According to the Korea Exchange, as of June 6, there have been 110 cases of companies designated or warned for nonco May 7, 2026

South Korea's Stock Market Surpasses Canada, Ranks Seventh Globally South Korea's stock market has risen to the seventh largest in the world by market capitalization, surpassing Canada. Just ten days after overtaking the UK for eighth place, the KOSPI index has climbed significantly, driven by gains from semiconductor giants Samsung Electronics and SK Hynix. According to Bloomberg, as of June 6, South Korea's market capitalization reached approximately $4.59 trillion, edging past Canada's $4.5 trillion. On April 27, the market capitalization was record May 7, 2026

Commission Resumes Investigation of Pro-Japanese Assets After 16 Years The Pro-Japanese Asset Investigation Committee has been reestablished to review and decide on matters related to pro-Japanese assets. The new law provides a legal basis for recovering proceeds from the sale of these assets and for rewarding whistleblowers who report pro-Japanese properties.On May 7, the Justice Ministry announced that the Pro-Japanese Asset Confiscation Law passed the National Assembly. This law will take effect six months after its promulgation.The committee will resume its act May 7, 2026

Samsung Electronics Faces Challenges in Home Appliances and Mobile Business Samsung Electronics' Device Experience (DX) division is seeking ways to overcome poor performance in its non-semiconductor businesses. While focusing on strengthening its mobile sector, the company is also beginning to streamline underperforming areas like home appliances.On May 7, industry sources reported that Samsung has decided to halt sales of TVs, monitors, washing machines, vacuum cleaners, and refrigerators in China. The company officially notified employees at a meeting the previous aft May 7, 2026