South Korea Aims for $1.8 Billion in Seaweed Exports by 2030 The South Korean government is taking steps to expand the export of seaweed, often referred to as "black semiconductor" due to its rising popularity. To meet surging global demand, the government plans to increase production and enhance efficiency by integrating artificial intelligence (AI) into the production, distribution, and supply processes. On June 4, the Ministry of Oceans and Fisheries unveiled its "Seaweed Export Supply Chain Innovation Plan" during a meeting of the Task Force on June 4, 2026

Lotte Biologics Highlights CDMO Capabilities at Bio International Convention 2026 Lotte Biologics announced on June 4 that it will participate in the 2026 Bio International Convention (BioUSA) in San Diego, California. BioUSA, organized by the Biotechnology Innovation Organization, is the largest global exhibition for the pharmaceutical and biotechnology industries, bringing together major pharmaceutical companies, investors, and research institutions to explore collaboration opportunities. Lotte Biologics has participated for five consecutive years since 2022. The c June 4, 2026

Government Considers Lifting Oil Price Cap if Global Prices Stabilize The South Korean government is considering lifting the oil price cap if global oil prices stabilize structurally. However, with the recent consumer price inflation rate soaring to 3.1%, officials plan to maintain the price cap to ensure stability in essential goods and services. On June 4, Deputy Prime Minister and Minister of Economy and Finance Ku Yun-cheol chaired a task force meeting at the Government Seoul Office to discuss recent consumer price trends and response measures. The gov June 4, 2026

Housing Prices Rise in Dongtan Amid Semiconductor Industry Boom Apartment prices in Seoul have maintained a steady increase of 0.25% for six consecutive weeks, reflecting a strong trend in the metropolitan area. In Dongtan, Hwaseong, expectations surrounding the semiconductor industry have led to a significant surge of 0.60%, marking the highest increase nationwide, while other regions remained stable. According to the Korea Real Estate Agency's report on nationwide apartment price trends for the first week of June, the average apartment sale price acro June 4, 2026

Baemin Launches Campaign with Veterans Affairs Ministry for June 'Month of National Defense' Baemin has organized a meaningful event to honor veterans. The company, operated by Woowa Brothers, announced on June 4 that it will collaborate with the Ministry of Veterans Affairs for a campaign in recognition of the 'Month of National Defense.' This campaign utilizes ideas selected from a public idea contest held by the Ministry of Veterans Affairs in March and April. Baemin aims to promote a culture of gratitude and respect for veterans through this event using its app. Until Jun June 4, 2026

Celltrion Burns 100 Billion Won in Shares to Enhance Corporate Value Celltrion is stabilizing its stock price and increasing shareholder returns through share buybacks and cancellations. On June 4, Celltrion announced that the procedure for canceling shares worth approximately 100 billion won has been finalized through a listing change. A total of 489,977 shares have been canceled, reducing the total number of shares issued by Celltrion to about 221.63 million. This share cancellation is part of the company's plan to buy back and cancel shares worth around 100 bi June 4, 2026

Economic Bureaucrats Fail to Secure Local Leadership in Recent Elections In the recent local elections, candidates for regional leadership positions with backgrounds in the Ministry of Economy and Finance faced significant defeats, effectively diminishing the influence of economic bureaucrats in local governance. Analysts suggest that these candidates, who promoted their abilities in budget acquisition and central government networking, could not overcome the prevailing political winds favoring established parties. In the Jeju gubernatorial race, Moon Sung-yu o June 4, 2026

Hyundai Home Shopping Introduces Automation Technology at Logistics Center Hyundai Home Shopping is enhancing its logistics capabilities by expanding automation at its centers. On June 4, the company announced the introduction of automated logistics equipment, including robotic arms and a singulator, at its logistics center in Hwaseong, Gyeonggi Province. Robotic arms are designed to pick up multiple products at once and transfer them to unloading conveyor belts. The singulator automatically arranges products on the conveyor belt to ensure they are shipped June 4, 2026

Netflix Enhances AI Features to Reduce Content Selection Fatigue Netflix is enhancing its use of artificial intelligence (AI) to help users more easily choose content to watch. As the volume of available content increases, the challenge of deciding what to watch has grown, prompting the company to refine its recommendation features using AI. Elizabeth Stone, Netflix's Chief Product and Technology Officer, outlined the company's AI-driven content recommendation strategy on June 3 during the Bloomberg Tech Conference in San Francisco. "Generative AI can June 4, 2026

Taxpayers with Overseas Accounts Over 500 Million Won Must Report by End of Month Taxpayers holding overseas financial accounts with balances exceeding 500 million won must report this information to the National Tax Service (NTS) by the end of June. Starting this year, overseas trusts are also included in the reporting requirements. On June 4, the NTS announced that it will accept reports on overseas financial accounts and trusts from residents and domestic corporations that held such accounts or established and maintained overseas trusts last year until June 30. As th June 4, 2026