Emerging Contenders for the Presidency After Local Elections With the results of the June 3 local elections and by-elections confirmed on June 4, potential presidential candidates are emerging. From the ruling party, Jung Cheong-rae, leader of the Democratic Party, and Choo Mi-ae, the newly elected governor of Gyeonggi Province, are being mentioned as contenders. From the opposition, Oh Se-hoon, the newly elected mayor of Seoul, and Han Dong-hoon, the newly elected representative for Busan's Buk-gu, are also in the mix. Jung demonstrated his leader June 4, 2026

KOSPI Drops Over 2% Amid Foreign Sell-Off, KOSDAQ Rises More Than 3% The KOSPI index has fallen over 2% due to a significant sell-off by foreign investors. In contrast, the KOSDAQ index has risen more than 3%, showing a starkly different trend. As of 11:15 a.m. on June 4, the KOSPI was down 224.19 points (-2.55%) at 8,577.30, according to the Korea Exchange. While individual investors purchased a net 3.72 trillion won and institutions bought a net 320.3 billion won, foreign investors led the decline with a net sell-off of 4.15 trillion won. Most of the to June 4, 2026

Oh Se-hoon Wins Fifth Term as Seoul Mayor in Close Election 6·3 local elections saw Oh Se-hoon of the People Power Party narrowly defeat Jung Won-o of the Democratic Party in a closely contested race for Seoul Mayor. Oh becomes the first mayor in Seoul's history to serve five terms, solidifying his position as a potential presidential candidate.According to the National Election Commission, as of 10:30 a.m. on June 4, with 98.16% of votes counted, Oh secured 49% of the vote, while Jung received 48.28%. The margin between the two candidates was just 37,17 June 4, 2026

Korean Privacy Commission Launches Investigation into TVING Data Breach The Personal Information Protection Commission (PIPC) has initiated an investigation into a data breach involving the online video service TVING. On June 4, the PIPC announced that it had received a report of the data breach from TVING and has begun examining the circumstances surrounding the incident and the extent of the damage. TVING reported the breach after discovering unauthorized access to its database, which led to the potential exposure of personal information. The compromis June 4, 2026

IBK Industrial Bank to Provide 1.5 Trillion Won in Financial Support for SMEs IBK Industrial Bank is set to provide 1.5 trillion won in financial support aimed at small and medium-sized enterprises (SMEs). The initiative seeks to assist small businesses that are often overlooked by policy measures while also promoting growth in future strategic industries.The bank has signed a memorandum of understanding with the Korea Credit Guarantee Fund and the Korea Technology Finance Corporation to expand inclusive and productive finance.Under this agreement, IBK will allocate 500 b June 4, 2026

Seoul Mayor Oh Se-hoon Aims to Transform City into Global AI Capital The nation chose the Democratic Party, but Seoul opted for Oh Se-hoon. This local election marked the first nationwide political assessment since the inauguration of the Lee Jae-myung administration. While the Democratic Party triumphed in most regions, Seoul took a different path. The citizens of Seoul prioritized the city over party affiliation and competitiveness over politics. This choice reflects both the evaluation and expectations surrounding Mayor Oh, who has been managing the city for s June 4, 2026

Court Denies Exit Ban Suspension for Professor Moss Tan Amid Criminal Investigation A South Korean court has rejected a request to suspend an exit ban on Moss Tan, a professor at Liberty University in the United States, who is under investigation for allegedly claiming that President Lee Jae-myung was involved in past criminal activities, including election fraud. According to legal sources on June 4, the Seoul Administrative Court, presided over by Judge Wi Ji-hyun, dismissed Tan's application to suspend the exit ban imposed by police. The court acknowledged the urgent June 4, 2026

Prime Minister Kim Calls for Collaboration Between Central and Local Governments On June 4, Prime Minister Kim Min-seok emphasized the need for collaboration between the central and local governments to achieve tangible results for the public. During his opening remarks at a meeting of the Emergency Economic Headquarters held at the Government Seoul Building, Kim noted, "Yesterday, the nationwide local elections were held, and new local leaders have been elected to guide local governments for the next four years." He urged the heads of various ministries to enha June 4, 2026

Daehan Cable Wins $65 Million Contract for High-Voltage Power Network in Scotland Daehan Cable has secured an additional contract for a high-voltage power network project in the United Kingdom. The company is capitalizing on the growing demand for renewable energy and the need to replace aging power infrastructure in the European market. According to industry sources, Daehan Cable will supply a 132kV high-voltage cable system for a power network construction project in Scotland. The contract is valued at approximately 65 billion won (about $65 million). This project i June 4, 2026

Record Number of Graduates and N-Students Take June Mock Exam The first mock exam for the 2027 College Scholastic Ability Test has begun, signaling significant changes in the college admissions landscape due to a record influx of graduates and a trend of science students focusing on social studies, known as "social studies rush." The Ministry of Education and the Korea Institute for Curriculum and Evaluation announced that the June mock exam was conducted nationwide at 2,124 high schools and 564 designated academies starting at 8:40 a.m. on June 4. T June 4, 2026