Lee Appoints Han Seong-sook as New Prime Minister to Tackle Economic Crisis President Lee Jae-myung appointed Han Seong-sook, the Minister of SMEs and Startups, as the new Prime Minister on June 7. If confirmed through a parliamentary hearing, Han will become the second female Prime Minister in South Korea, following Han Myung-sook, who served nearly 19 years ago. Additionally, she will make history as the first Prime Minister with a background as a CEO of a major corporation, having previously led Naver, the country's largest IT company. Kang Hoon-sik, the Chief of June 7, 2026

President Lee Names Han Seung-sook as New Prime Minister President Lee Jae-myung has nominated Han Seung-sook, the current Minister of Small and Medium Enterprises and Startups, as the new Prime Minister. Han's appointment comes after she was previously recognized as a surprising choice for the role when she was first appointed as the Minister last June.Initial expectations suggested that the next Prime Minister would likely be a politician with strong leadership skills. However, President Lee's decision to select a private sector leader indicates a s June 7, 2026

Deputy Prime Minister Koo Yoon-cheol Addresses Currency Volatility Concerns Koo Yoon-cheol, Deputy Prime Minister and Minister of Finance, stated on June 7 that "excessive exchange rate volatility is undesirable for our economy, and we will not tolerate excessive fluctuations or one-sided trends." Koo made these remarks during an emergency market situation assessment meeting held at the Korea Federation of Banks. The meeting included Bank of Korea Governor Shin Hyun-song, Financial Services Commission Chairman Lee Ok-won, and Financial Supervisory Service Chairman June 7, 2026

Countdown to Interest Rate Hike: Savings Rates Rise Near 4% Savings rates at savings banks, mutual finance institutions, and internet-only banks are on the rise. Special deposit products offering rates in the 4% range have emerged in the mutual finance sector. As the Bank of Korea signals a potential interest rate hike in the second half of the year, competition for deposits is heating up.According to the Korea Federation of Savings Banks on June 7, the average interest rate for one-year time deposits at 79 savings banks nationwide is 3.35%, up from 2.92 June 7, 2026

Will Real Estate Tax Reform Shift Focus to Long-Term Homeowners? Discussions on reforming the real estate tax system are expected to intensify following the June 3 local elections. The government is considering changes to the long-term ownership special deduction and property taxes, suggesting a shift in focus from the concept of a "single, valuable home" to one that emphasizes "long-term residency." According to the real estate industry on June 7, ahead of the Ministry of Economy and Finance's tax reform proposal set for July, discussions are underway June 7, 2026

Countdown to Interest Rate Hike: Credit Loans Surge by 1 Trillion Won in Three Days Amid Debt Investment Boom As the KOSPI index surpasses 8,000, individual investors are increasingly engaging in debt-fueled investments. Last month, credit loans across the financial sector reversed a six-month decline, and in just three business days this month, nearly 1 trillion won was added. While financial authorities are closely monitoring the market's overheating, they face a dilemma due to existing high-interest burdens and current lending regulations. According to the financial sector on June 7, the total June 7, 2026

Countdown to Interest Rate Hike: Housing Loan Rates May Exceed 8% As the Bank of Korea signals the possibility of consecutive interest rate hikes, projections indicate that mortgage rates could surpass 8% in the second half of the year. This situation is expected to increase the financial burden on borrowers who have invested in stocks or real estate using loans, commonly referred to as the "debt investment group" and "all-in group." According to financial sector data released on June 7, the mixed-rate mortgage rates from the five major banks—KB Kookmin June 7, 2026

The Future of Inclusive Finance: Designing Technology and Systems Together The South Korean stock market is drawing global attention. The KOSPI index has surged sharply since the beginning of the year, surpassing the 8,000 mark for the first time in history, with daily fluctuations reaching double the levels of previous years. While rising corporate values and increased stock investments by citizens are certainly positive developments, they also bring discomfort and anxiety. There is a sense of alienation, as if one is falling behind in a celebration that ever June 7, 2026

Seo Kyo-rim Wins First Title at KLPGA Tour's Celltrion Queens Masters Seo Kyo-rim, the KLPGA Tour Rookie of the Year last season, achieved her first career victory at the Celltrion Queens Masters, which has a total prize pool of 1.5 billion won. On June 7, Seo shot a 4-under-par 68 in the final round of the 2026 KLPGA Tour event held at Seongmunan Country Club in Wonju, Gangwon Province, with five birdies and one bogey. With a total score of 15-under 201, Seo edged out second-place Kim Min-sun, who finished at 14-under 202, by one stroke to secure her first June 7, 2026

Korean National Tax Service Partners with Liberia to Combat Offshore Tax Evasion Strengthening ties with Liberia, a prominent ship registration nation, will enhance the ability to combat illegal activities such as offshore tax evasion. The partnership also aims to alleviate challenges faced by the Korean shipping industry regarding ship registration. The National Tax Service announced that Im Kwang-hyun, its commissioner, hosted James Dover Jallah, the head of the Liberia National Tax Service, for the first Korea-Liberia Tax Commissioner meeting in Seoul on June 5. Lib June 7, 2026