Budget Mobile Providers Lose Subscribers for Second Consecutive Month The budget mobile provider (MVNO) market has recorded subscriber losses for the second consecutive month. After experiencing growth through the first quarter of the year, MVNOs shifted to a decline in April, which worsened in May. According to data from the Korea Telecommunications Operators Association (KTOA) released on June 2, the net loss of MVNO subscribers in May totaled 11,211. This marks an increase of 3,858 from the 7,353 subscribers lost in April. This is the first time MVN June 2, 2026

Special Prosecutors Summon Former Seoul Central District Prosecutor Lee Chang-soo Over Allegations The second Special Prosecutor Team, led by Kwon Chang-young, has decided to summon Lee Chang-soo, the former Seoul Central District Prosecutor, for questioning in connection with allegations of covering up the Deutsche Motors investigation. According to a report by Yonhap News on June 2, Lee and Choi Jae-hoon, the former head of the Anti-Corruption Division at the Seoul Central District Prosecutor's Office, have been notified of their summons regarding charges of falsifying official docum June 2, 2026

Chairman Jin Young-seung Inspects Military Readiness Ahead of Local Elections Chairman Jin Young-seung conducted a readiness inspection of key military units in the capital region one day before the local elections. According to a report by Yonhap News on June 2, Jin visited the Army Capital Corps and the Marine Corps’ 2nd Division to assess their operational readiness for coastal and river defense operations and to encourage the troops. He first visited the Army Capital Corps headquarters in Anyang, Gyeonggi Province, where he reviewed their operational readine June 2, 2026

Hanwha Aerospace Explosion Investigation Concludes; Police Begin Safety Probe A joint investigation into the explosion at Hanwha Aerospace's Daejeon facility has concluded, with police now focusing on determining the cause of the incident that resulted in seven casualties, including five fatalities. According to Yonhap News, the Daejeon Police Agency conducted a joint investigation with fire officials, the National Forensic Service, the Ministry of Employment and Labor, and the Korea Occupational Safety and Health Agency starting at around 10 a.m. on June 2. The in June 2, 2026

Global Protectionism Challenges K-Defense Exports Amid Local Production Demands As countries accelerate their defense self-sufficiency, the export formula for K-Defense is facing significant challenges. The environment has become increasingly difficult, where quick delivery and price competitiveness alone may not guarantee large contracts. Experts suggest that securing new competitive advantages, such as local production and technology transfer, is essential. Price and Localization Leave K-Defense Vulnerable to 'Buy European' Policies According to industry sources, H June 2, 2026

Final Campaign Push Ahead of June 3 Local Elections in South Korea On June 2, one day before the June 3 local elections and National Assembly by-elections, Jung Cheong-rae, leader of the Democratic Party, and Jang Dong-hyuk, leader of the People Power Party, visited Gangwon Province and South Chungcheong Province, respectively, to rally support. The two leaders then returned to Seoul, a key battleground, to encourage voter turnout. Jung campaigned vigorously in Jeongseon and Yeongwol, aiming to reclaim the governorship of Gangwon Province with candidat June 2, 2026

Small Asset Managers Target ETF Market Beyond Samsung and Mirae Asset Domestic exchange-traded funds (ETFs) have entered a 500 trillion won era, prompting small and mid-sized asset management firms to actively pursue opportunities in the ETF market. While Samsung Asset Management and Mirae Asset Management dominate with over 70% market share, these smaller firms are seeking new growth avenues, particularly through active ETFs. According to the financial investment industry on June 2, firms such as DS Asset Management, Life Asset Management, Daol Asset Manage June 2, 2026

Wi Sung-lak Meets U.S. Deputy Secretary of State, Emphasizes Importance of U.S.-South Korea Alliance Wi Sung-lak, Director of the National Security Office, met with U.S. Deputy Secretary of State Alison Hooker on June 2 during her visit to South Korea.The Blue House issued a press release stating, "Both sides welcomed the upcoming discussions on the security sector of the U.S.-South Korea Joint Fact Sheet and expressed hope for productive consultations over the next two days to accelerate related discussions."Additionally, the two reaffirmed that the U.S.-South Korea alliance is a cornerstone f June 2, 2026

Korean Golfers Aim for US Women's Open Title After Six-Year Hiatus Korean golfers are set to reclaim the US Women's Open title, the most prestigious major in women's golf, after a six-year gap. The 81st US Women's Open will take place from June 5 to 8 at the Riviera Country Club in Pacific Palisades, California. Known for its long history, the tournament boasts a total prize purse of $12 million, with the winner receiving $2.4 million, making it one of the highest-paying events in women's golf. The Riviera Country Club, which is celebrating its 100th anniv June 2, 2026

Art Center Nabi Relocates to Sagandong with New Exhibition Art Center Nabi, led by director Noh So-young following her divorce from SK Group Chairman Chey Tae-won, is set to reopen in a new location in Sagandong, leaving its previous site in the SK Group headquarters in Seoul's Jongno district. The center announced on June 2 that it will kick off its reopening with Han Jin-soo's solo exhibition, 'A Pregnant Pause,' starting on June 11. This exhibition marks the conclusion of 26 years of Art Center Nabi's journey and serves as the first project June 2, 2026