Shinhan Card Issues $400 Million Formosa Bond, First by Non-Bank Institution Shinhan Card has successfully issued a Formosa bond structured as a floating-rate note (FRN), becoming the first non-bank financial institution in South Korea to do so. Despite increased global interest rate volatility, the company attracted strong investor demand, achieving a record-low funding rate. On June 10, Shinhan Card announced the public issuance of a $400 million (approximately 613.2 billion won) Formosa bond. A Formosa bond is a debt security issued in Taiwan by foreign fina June 10, 2026

11st Opens Specialty Store on JD.com to Target China's Cross-Border Market 11st is partnering with China's major online platform JD.com to enter the Chinese cross-border shopping market.On June 10, 11st announced the launch of its specialty store on JD.com's cross-border e-commerce platform, JD Worldwide.The 11st specialty store will be featured on the main page of JD Worldwide alongside global e-commerce giants like Amazon, Walmart, and Rakuten. It will also be accessible through searches on the JD.com app, which has around 100 million daily active users.With this new June 10, 2026

Seragem Donates Healthcare Products to Namyangju Social Welfare Center Seragem announced that it has donated healthcare products, including the Master V7 spinal care medical device, to the Dongbu Hope Care Center in Namyangju on June 10. The Hope Care Center is a social welfare facility that integrates care, living, and health services by connecting public and private organizations to overcome the limitations of public welfare. Established in 2007, the center offers various welfare programs, including safe housing support, community engagement initiatives, June 10, 2026

Korean Beef Promotion Targets International Luxury Tourism Buyers The Korean Beef Promotion Organization has launched an initiative to promote Korean beef to international luxury tourism buyers. From June 7 to 10, the organization participated in the "Explore Seoul with Connections" global B2B (business-to-business) event hosted by the city of Seoul, showcasing the excellence of Korean beef and the value of Korean culinary culture. This event aimed to introduce premium tourism content in Seoul to international luxury tourism professionals. Twenty-nine June 10, 2026

President Lee Calls for New Mechanism to Distribute AI Excess Profits President Lee Jae-myung stated on June 10 that a new mechanism, similar to basic income, is necessary to distribute some excess profits from the development of artificial intelligence and other new industries to the public.During a recent interview with The Economist while on a tour of Europe, President Lee discussed the implications of AI investments on the stock market. The publication noted that while he benefits from rising stock prices, a market downturn could increase political pressure on June 10, 2026

KOSPI Plummets 4%, Shedding 355 Trillion Won as Investors Seek Bargains The KOSPI index dropped more than 4% in a single day, erasing 355 trillion won in market capitalization. The KOSPI 200 Volatility Index (VKOSPI), known as a fear gauge, remained at historically high levels, indicating a decline in investor sentiment. However, individual investors are seizing the opportunity to buy at lower prices. On June 10, the Korea Exchange reported that the KOSPI closed at 7,730.82, down 366.11 points (4.52%) from the previous trading day. After surging 8.18% the day June 10, 2026

Rural Special Tax Revenue Expected to Exceed 10 Trillion Won Amid Stock Market Boom As the stock market experiences a boom this year, revenue from the Rural Special Tax (RST) is projected to surpass 10 trillion won for the first time. However, there are growing calls to reassess how these funds are utilized, as the current allocation methods do not adequately address the rapidly changing agricultural environment.According to relevant authorities, RST revenue collected by April reached 57 trillion won, an increase of 34 trillion won compared to the previous year. The revenue col June 10, 2026

Jeonse Loan Rates Exceed 6% Amid Rising Market Rates As mortgage rates approach 8%, jeonse loan rates have also surpassed 6%. With rising loan rates, the interest burden on vulnerable borrowers is increasing. Concerns about further rate hikes have grown, particularly after President Lee Jae-myung recently identified jeonse loans as a key factor in rising housing prices. According to the financial sector on June 10, the jeonse loan rates from the five major banks—KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup—ranged from 4.11% to 6.71% for June 10, 2026

LX Pantos Wins Grand Prize at Korean Labor-Management Cooperation Awards LX Pantos has been awarded the Grand Prize in the large enterprise category at the Korean Labor-Management Cooperation Awards for its achievements in fostering a collaborative labor-management culture.The company announced that it received this prestigious honor during the 38th Korean Labor-Management Cooperation Awards ceremony held at the Four Seasons Hotel in Jongno-gu, Seoul, on June 14.Key figures in attendance included Minister of Employment and Labor Kim Young-hoon, Chairman of the Econom June 10, 2026

Debate Over Surplus Tax Revenue: Stability vs. Profitability With a booming semiconductor market contributing to a rise in stock prices, experts predict a significant surplus in tax revenue this year. This has sparked a debate on whether to allocate the surplus to a future response fund to prepare for long-term fiscal needs or to operate it as a sovereign wealth fund investing in strategic industries. According to the Ministry of Economy and Finance on June 10, discussions are ongoing among experts and government officials regarding how to utilize th June 10, 2026