President Lee Jae-myung says price stability is top priority, urges steady supply of key goods President Lee Jae-myung said May 7 that stabilizing prices must be the government’s top priority, calling for full use of available measures to secure supplies of crude oil and other key raw materials and to keep supply and demand steady for major goods. Chairing a meeting with senior aides at Cheong Wa Dae, Lee warned that prolonged inflation would deepen the hit to livelihoods, weaken consumer sentiment and weigh on the economic recovery. He said price pressures were ris May 7, 2026

South Korea Stock Market Cap Rises to No. 7 Globally, Passing Canada South Korea’s stock market has climbed to seventh in the world by market capitalization, moving up another notch after passing the U.K. about 10 days earlier, Bloomberg data showed. As of the previous trading day, May 6, South Korea’s total market capitalization stood at about $4.59 trillion, topping Canada’s roughly $4.50 trillion, according to Bloomberg’s tally. South Korea now ranks behind the United States ($77.08 trillion), China ($15.27 trillion), Japan ($8.33 trillion), Hong Ko May 7, 2026

Trump Aides Worry Jet Fuel Spike From Middle East War Could Hurt GOP in Midterms President Donald Trump’s aides have begun voicing concern about a sharp rise in jet fuel prices tied to the Middle East war, The Wall Street Journal reported Tuesday, citing sources. The spike could become a political liability for Republicans ahead of the midterm elections in early November, the report said. Chris Sununu, a Republican who leads Airlines for America, has warned Trump administration officials in recent weeks — including White House National Economic Council Director Kevin May 7, 2026

LH Signs Deal to Seek Second Special Redevelopment Zone for Gunpo Sanbon Rebuild Korea Land and Housing Corp., known as LH, said Wednesday it signed a business agreement with residents’ representatives from Zones 12 and 13 in Gunpo’s Sanbon area to pursue designation as a “second special redevelopment zone.” The aging planned-city redevelopment program targets sites developed more than 20 years ago, including the first-generation new town of Gunpo Sanbon. It aims to improve living conditions through integrated upgrades that include infrastructure such as parks and sc May 7, 2026

Seoul Apartment Jeonse Listings Plunge, With Sharpest Drop in Outer Districts Jeonse listings for Seoul apartments have fallen by nearly 40% over the past year, with outer districts seeing the steepest declines, according to market data. Analysts said further tightening of rules targeting nonresident owners of a single home could prompt more landlords to move in or pull rentals from the market, worsening housing insecurity for lower-income tenants. As of May 7, the real estate big-data platform Asil counted 16,052 jeonse listings in Seoul, down 38.9% from 26,247 o May 7, 2026

South Korea’s Democratic Party Vows June 3 Local Election Win to Back Lee Jae-myung Government The Democratic Party on May 7 reaffirmed its determination to win the June 3 local elections, saying victory is needed to “end the insurrection” and ensure the success of the Lee Jae-myung government. The party also urged its candidates for Incheon mayor, Gyeonggi governor and Jeju governor — Park Chan-dae, Choo Mi-ae and Wi Seong-gon — to give their all. At a nomination rally for Incheon, Gyeonggi and Jeju held at KINTEX in Goyang, the party said voters should deliver a stern judgment a May 7, 2026

About 50,000 BTS Fans Crowd Mexico’s National Palace After Presidential Invite BTS, which is scheduled to hold comeback concerts at Mexico City’s GNP Stadium on the 7th, 9th and 10th, met with Mexico President Claudia Sheinbaum. News that BTS had been invited to the National Palace to pay a courtesy call drew an estimated 50,000 fans to the Zocalo plaza outside the palace. According to Yonhap, Sheinbaum appeared with BTS on a palace balcony and greeted the crowd, which erupted in cheers. The BTS members waved back and filmed the packed plaza on their phones, th May 7, 2026

Korea Technology Finance Corp. Named First Public-Sector AI Ethics Compliance Body Korea Technology Finance Corp. said it signed an agreement with the National Information Society Agency, or NIA, to promote a trusted public-sector shift to artificial intelligence. The agency said it was also designated the first public institution to be recognized as an “AI ethics compliance organization,” a status that acknowledges its AI use. 7일 기보에 따르면 the agreement was pursued under the “Framework Act on Artificial Intelligence,” which took effect in January, as KOTEC moved May 7, 2026

ADOR Says Talks on NewJeans’ Minji Returning Are ‘Moving in a Positive Direction’ Speculation has grown that NewJeans member Minji could resume activities, and her agency, ADOR, said discussions are continuing “in a positive direction.” ADOR told this outlet on the 7th that it is “continuing internal discussions” regarding Minji’s future activities. The company said it cannot share details at this time, adding, “Please understand that talks are generally continuing in a positive direction.” Online, attention increased after reports said Minji made a surprise visit t May 7, 2026

Comedian-Actor Im Ha-ryong’s Cheongdam-dong Property Grows From $500,000 Home to 10 Billion-Won Building Comedian and actor Im Ha-ryong’s real estate story has drawn wide attention online. A video posted April 30 on the YouTube channel 'Sunpung Sunwoo Yong-yeo' titled “First reveal of Sunwoo Yong-yeo’s 40-year friend Im Ha-ryong’s 10 billion-won Cheongdam-dong building” sparked strong reactions. In the video, Im said he bought a two-story detached home in Seoul’s Cheongdam-dong in 1991 for about 500 million won, including taxes. He said that in the 2000s he sold an apartment in Mok-dong and May 7, 2026