Lee Dong-cheol Nominated as Next President of Credit Finance Association Lee Dong-cheol, the former CEO of KB Kookmin Card, has been nominated as the sole candidate for the presidency of the Credit Finance Association. He is expected to be officially appointed as the next president if he secures a majority vote from member companies at the general meeting scheduled for June 16. The industry is optimistic about having a leader with extensive experience in card, insurance, and digital businesses.On June 4, the Credit Finance Association held its second candidate recomm June 4, 2026

Yen Exchange Rate Hits 160 Yen per Dollar as Japan's Intervention Effects Fade The Japanese yen has risen to around 160 yen per dollar, indicating a decline in its value, as the effects of the Japanese government's large-scale yen-buying intervention at the end of April have faded within a month. Amid ongoing tensions in the Middle East, rising oil prices, and expectations of interest rate hikes in the U.S., the market is now focused on the possibility of further intervention by Japanese authorities and the pace of additional tightening by the Bank of Japan (BOJ). T June 4, 2026

Civil Construction Costs Surge 42% in Four Years, Deepening Contracting Crisis Civil construction costs have risen sharply this year, with the construction cost index surpassing 140 for the first time since records began. After three years of stability, costs have surged again, creating a widening gap between the estimated prices set during budget planning and actual market costs. Concerns are growing that a 'contracting cliff' will deepen, as construction firms are reluctant to bid despite record SOC budgets. According to the construction industry on June 4, the civil con June 4, 2026

June Mock Exam for 2027 College Entrance Test Shows Easier Difficulty Compared to Last Year The June mock exam for the 2027 College Scholastic Ability Test was conducted nationwide on June 4. Education experts noted that while the Korean and math sections were somewhat easier compared to last year's exam, which was deemed exceptionally difficult, the questions aimed at differentiating top students remained challenging. The Korean section was formatted similarly to last year's exam, with questions that were either comparable or slightly easier. The reading materials included a v June 4, 2026

Defense and Industry Ministries Accelerate Cooperation for Defense Exports The South Korean government is consolidating its efforts across multiple ministries to enhance the development and export of advanced defense technologies. On June 4, the Ministry of National Defense and the Ministry of Trade, Industry and Energy convened the 12th Defense Industry Development Council in the National Defense Ministry's conference room in Yongsan, Seoul. The meeting addressed eight key agenda items, including stable procurement cooperation for dual-use drones and plans June 4, 2026

Calls for Leadership Change in People Power Party After Local Election Loss Calls for the resignation of Jang Dong-hyuk's leadership in the People Power Party are growing among lawmakers aligned with the Pro-Han Dong-hoon faction following the party's defeat in the June 3 local elections.Ahn Sang-hoon, a member of the faction, stated on Facebook on June 4, "Jang Dong-hyuk's leadership has absurdly expelled former leader Han Dong-hoon, while Oh Se-hoon, who distanced himself from Jang's leadership, managed to retain Seoul. This is a signal for the rational reconstruction June 4, 2026

Toss Bank Enhances 'Easy Employment Contract' Service Toss Bank has added document issuance capabilities to its 'Easy Employment Contract' service, allowing users to handle everything from contract signing to document preparation in one go. On June 4, Toss Bank announced that it has integrated the ability to issue health examination certificates, resident registration documents, and bank account copies into its 'Easy Employment Contract' service. This initiative aims to facilitate the contract signing process for both employees and employ June 4, 2026

Independent Lawmaker Kang Sun-woo Requests Bail Amid Corruption Charges Independent lawmaker Kang Sun-woo, who has been charged with receiving 100 million won in campaign contributions, has recently filed a request for bail in court. According to legal sources on June 4, Kang submitted his bail request to Judge Lee Chun-geun of the Seoul Central District Court on June 2. Bail is a legal procedure that allows for the release of a defendant from custody under certain conditions, such as the payment of a security deposit. Once a bail request is filed, the cou June 4, 2026

Kim Kwan-young: The Democratic Party is Not Jeong Cheong-rae's Property In the recent local elections, Kim Kwan-young, who ran as an independent after opposing the internal primary process for the Jeonbuk governor candidacy, lost to Lee Won-taek of the Democratic Party. Kim stated that "the Democratic Party is not Jeong Cheong-rae's property" and called for a judgment of Jeong's leadership at the party convention in August. On June 4, Kim expressed on his Facebook page, "I humbly accept the results of this election," but added, "I am not here to report my def June 4, 2026

Real Estate Agents Face Decline as Closures Outpace New Openings The national real estate agency sector is entering a phase of decline, with closures outpacing new openings for the third consecutive year, marking the end of the era of 110,000 licensed real estate agents. As the stagnation in real estate transactions continues, the number of new entrants is also sharply decreasing, leading to a significant structural contraction in the industry. According to the Korea Association of Licensed Real Estate Agents, the number of active real estate agents p June 4, 2026