Supreme Court Chief Justice Accepts Resignation of Election Commission Chair Supreme Court Chief Justice Cho Hee-dae has accepted the resignation of Noh Tae-ak, the Chair of the Election Commission, following the ballot shortage incident during the June 3 local elections. According to legal sources on June 8, Chief Justice Cho has revoked Noh's nomination to the Election Commission and notified the commission of this decision. Noh announced his resignation on June 5, just two days after the ballot shortage, stating, "I feel a deep sense of responsibility for the June 8, 2026

South Korea Explores Collaboration with NVIDIA on AI Factory and GPU Supply The Ministry of Science and ICT has indicated the potential for further collaboration with NVIDIA beyond the acquisition of 260,000 graphics processing units (GPUs). On June 8, Deputy Prime Minister and Minister of Science and ICT Baek Kyung-hun stated before a private meeting with NVIDIA at the Shilla Hotel in Seoul, "We plan to discuss the establishment of physical AI and AI factory solutions with NVIDIA, and we may explore collaboration options that go beyond the previously announced June 8, 2026

Government Restructures Hydrogen Power Bidding Market to Promote Clean Hydrogen The government is set to overhaul the hydrogen power bidding market by discontinuing support for coal and ammonia co-firing power generation, aiming to expand domestic clean hydrogen production. This move is seen as a step towards creating a clean hydrogen ecosystem based on electrolysis and enhancing greenhouse gas reduction efforts. The Ministry of Climate, Energy and Environment announced on June 8 that it will publicly announce a revision to the 'Notice on Annual Purchase Volume Calculation June 8, 2026

South Korea Allocates 11.5 Billion Won for Fertilizer Price Subsidies As the Middle East conflict continues, fertilizer prices have risen, prompting the South Korean government to announce on June 8 that it will provide 11.5 billion won in price subsidies to alleviate the financial burden on farmers. The supply of mineral fertilizers is predominantly managed through the National Agricultural Cooperative Federation (Nonghyup), which determines prices through bidding and negotiations with producers. Due to the ongoing conflict, the price of urea, a key ingredient i June 8, 2026

Nexspace Hosts 'MapleStory Vibe Camp' to Enable Game Development Without Coding Nexspace, a blockchain subsidiary of Nexon, is hosting the 'MapleStory Vibe Camp' until June 29, allowing anyone to create games. As AI technology lowers the barriers to game development, the initiative aims to blur the lines between players and creators while fostering the Vibe Camp and MSU Space ecosystem. Participants will utilize official resources from the MapleStory universe and AI development tools. The Vibe Camp is conducted in collaboration with Verse8, an AI-based game developm June 8, 2026

Jensen Huang: AI Factory Demand Surges as SK, Hyundai, LG, Doosan Form Alliances "We need to build more AI factories," Jensen Huang, CEO of NVIDIA, succinctly summarized his visit to South Korea, which lasted four days. On the final day, June 8, during a visit to SK's headquarters in Seoul, he emphasized, "There is tremendous demand for more AI factories globally, and business is booming." Huang met with major South Korean companies, including SK, LG, Hyundai Motor, and Doosan, to discuss AI collaboration strategies. In the morning, he met with Chey Tae-won, Chairman o June 8, 2026

High Exchange Rates Boost Exports but Increase Cost Pressures The won-dollar exchange rate has surged past 1,500 won, creating mixed outcomes across various sectors. Companies with a high export ratio are anticipating improved profitability from the rising exchange rate, while those heavily reliant on imported raw materials and energy are concerned about increasing cost pressures. Consumers are also expected to face higher living expenses due to rising import prices. According to the Bank of Korea, the average won-dollar exchange rate from June 1 t June 8, 2026

Lee Jong-eun, President of the Korean International Finance Association, Calls for Cautious Central Bank Communication Monetary policy is significantly influenced not only by its content but also by how central banks communicate. Recently, there has been a divergence of opinions regarding forward guidance, a method used by central banks to signal future interest rate paths and manage market expectations. Particularly, views on forward guidance, an unconventional monetary policy tool, are mixed. While it aims to reduce uncertainty in the market and enhance the effectiveness of monetary policy, critics argu June 8, 2026

Lee Jong-eun, President of the Korean International Finance Association, Says High Exchange Rate Reflects Declining Economic Appeal Amid rising global long-term interest rates and a soaring won-dollar exchange rate, the Korean economy faces significant uncertainty. Lee Jong-eun, President of the Korean International Finance Association and a professor at Sejong University, stated that the current issues in the Korean economy cannot be resolved through monetary policy alone, emphasizing the need for fiscal reform and recovery of potential growth rates as top priorities. The Korean economy is experiencing high inflation June 8, 2026

NVIDIA and SK hynix Elevate Partnership to Develop AI Roadmap NVIDIA CEO Jensen Huang announced plans to expand the company's collaboration with SK hynix beyond high-bandwidth memory (HBM) supply to include AI supercomputers, central processing units (CPUs), personal computers (PCs), and robotics platforms. This marks a shift from a simple memory procurement relationship to a strategic partnership focused on a multi-year technology roadmap between NVIDIA and SK Group. On June 8, Huang held a press conference with SK Group Chairman Choi Tae-won in th June 8, 2026