Employment Insurance Subscribers Increase for Fifth Consecutive Month, Manufacturing and Construction Sectors Decline Last month, the number of regular subscribers to employment insurance increased by 268,000, marking the fifth consecutive month of growth in the 200,000 range. However, the number of subscribers in the manufacturing and construction sectors continues to decline, and the employment crisis among young people persists. According to the Ministry of Employment and Labor's report on labor market trends based on May 2026 employment administrative statistics, the number of regular employment insur June 9, 2026

South Korea Designates First Water Circulation Promotion Zones The South Korean government has designated the cities of Gunsan, Jecheon, and Jeungpyeong in North Chungcheong Province, as well as Cheonan in South Chungcheong Province, as the nation’s first water circulation promotion zones. This initiative aims to address complex water issues exacerbated by climate change, including droughts and floods. The Ministry of Climate Energy and Environment announced on June 9 that it will officially designate these four local governments as water circulation promo June 9, 2026

KOREATECH Launches First Joint Master's Program with ILO for Digital TVET KOREATECH has announced a new master's program in Technical and Vocational Education and Training (TVET) in collaboration with the International Training Centre of the International Labour Organization (ITCILO) to train professionals in response to the digital economy.The program, titled "Master's in Digital Economy TVET," will commence in January 2027. This marks the first formal degree program established by ITCILO in partnership with overseas higher education institutions, aiming to share the June 9, 2026

Credit Card Complaints Surge 88% in Three Years Amid International Refund Delays A consumer, identified as A, purchased items from an overseas shopping site that subsequently closed, leaving A without the ordered products. After requesting a cancellation and refund from the credit card company, A was informed that the process could take several months. This delay is due to the requirement for disputes involving international transactions to be reviewed by global brands like Visa and MasterCard, rather than being solely determined by domestic card issuers. Complaints r June 9, 2026

30th International Consortium on Longevity Kicks Off in Gochang, South Korea The 30th International Consortium on Longevity (ICC) annual conference opens today in Gochang, South Korea. The event will run until June 12 at the Well Park City Hotel, bringing together longevity experts from around the world to discuss strategies for extending healthspan and addressing the challenges of an aging society. The ICC is a global academic network focused on research related to centenarians, aging, longevity, and healthspan. This year’s conference features over 50 scholars fr June 9, 2026

Capital Group Increases Stake in KT&G from 5.6% to 7.2% The American asset management firm Capital Group has significantly increased its stake in KT&G. The surge in the overseas cigarette business and the anticipated strong shareholder return policy in the second half of the year are believed to have attracted the interest of global investors. According to a disclosure on June 9 from the Financial Supervisory Service, Capital Group now holds over 7.49 million shares of KT&G, raising its ownership stake to 7.21% of the total issued shares June 9, 2026

Fines for Repeat Offenders in Consumer Law Violations Doubled Businesses that repeatedly violate laws related to door-to-door sales, false and exaggerated advertising, and installment sales will face significantly increased fines. The reduction of fines previously granted for consumer compensation and cooperation during investigations will also be minimized.The Fair Trade Commission announced on June 9 that the revised enforcement decree for the so-called 'Consumer Protection Laws'—which include the Door-to-Door Sales Law, Advertising Law, and Installment June 9, 2026

Choi Jong-sik Discusses Voting Paper Shortage and Cooperation with Kang Hoon-sik Choi Jong-sik, elected as the Speaker of the 22nd National Assembly, met with Kang Hoon-sik, Chief of Staff, and Hong Ik-pyo, Senior Secretary for Political Affairs, on June 9 to discuss recent issues, including the shortage of voting papers and the confirmation hearing for the Prime Minister. Given Choi's affiliation with the pro-Lee Jae-myung faction and his previous role as a political advisor to the president, legislative activities for the Lee administration's agenda are expected to g June 9, 2026

Government Supports Steel Industry's Green Transition and Restructuring The South Korean government is establishing a "Special Committee for Strengthening the Competitiveness of the Steel Industry," chaired by the Prime Minister, to support restructuring and the transition to eco-friendly, high-value-added steel production. The committee will set certification standards for low-carbon steel and facilitate business restructuring through exemptions under the Fair Trade Act. On June 9, the Ministry of Trade, Industry and Energy announced that the enforcement decre June 9, 2026

Korea and U.S. Approve Special Law for Strategic Investment Cooperation The South Korean government is establishing a regulatory framework to facilitate strategic investment cooperation with the United States, aiming to promote a $200 billion investment project. On June 9, the Ministry of Finance announced that the Cabinet approved the enforcement decree for the Special Act on Strategic Investment between South Korea and the United States. This decree outlines the operational guidelines for the law, which will take effect on June 18, and details the procedur June 9, 2026