Syangyong Construction Wins 123 Billion Won Contract for Mapo Redevelopment Project Syangyong Construction is expanding its contracts for housing redevelopment projects in Seoul and the surrounding metropolitan area. On June 2, the company announced that it was selected as the construction firm during a general assembly of the Changjeon-dong housing redevelopment association held on May 31. The project involves constructing six apartment buildings named 'The Platinum,' consisting of 292 units, along with community facilities, on the site located at 46-1 Changjeon-dong. T June 2, 2026

July Marks Critical Month for KOSDAQ as Delisting Risks Rise for 200 Companies The critical month of July is approaching, bringing with it a strengthened delisting system for KOSDAQ companies. Starting July 1, the new regulations will intensify efforts to weed out underperforming firms. Currently, over 200 companies are at risk of delisting due to factors such as insufficient market capitalization, penny stock status, and repeated disclosure violations. According to financial authorities, the enhanced delisting criteria will take effect on July 1. Companies with a market June 2, 2026

Samsung Electronics Surges Past Meta to Join Global Top 10 by Market Cap The KOSPI index experienced significant fluctuations, swinging over 400 points before closing higher. Amid this volatility, Samsung Electronics saw its stock rise by more than 3%, securing a spot among the top 10 global companies by market capitalization. On June 2, according to data from the global market capitalization tracking site CompaniesMarketCap, Samsung Electronics' market cap reached $1.526 trillion, surpassing Meta to rank 10th globally. At one point during the trading session June 2, 2026

NVIDIA CEO Jensen Huang's Visit Sparks Excitement in South Korea Jensen Huang, CEO of NVIDIA, is generating excitement in South Korea with his visit this week. News of his arrival or even a ceremonial first pitch at a baseball game has led to a surge in stock prices for companies associated with him over the past two days. Huang's previous visit to South Korea last year demonstrated his significant influence. Following what was dubbed the "gangbu meeting," shares of companies like Samsung Electronics and Hyundai Motor soared. Notably, Samsung Electron June 2, 2026

Greenhouse Heat Pumps and Solar Panels Now Eligible for Carbon Credits Installing heat pumps in agricultural greenhouses or solar panels in buildings and public facilities will now qualify for carbon credits. The Ministry of Climate, Energy, and Environment announced on June 2 that it held the 69th Carbon Emission Certification Committee meeting, where it reviewed and approved projects related to heat pumps, solar energy systems, and fuel conversion. External projects refer to initiatives that reduce, absorb, or eliminate greenhouse gases from emission facilit June 2, 2026

Tourism Elevated to National Strategic Industry Under Lee Jae-myung Administration As the Lee Jae-myung administration marks its first year, South Korea's tourism policy is undergoing a significant transformation. Once viewed as a sub-sector of the cultural industry or merely a leisure activity, tourism has been elevated to a key "national strategic industry" that is expected to drive domestic economic growth and regional development. The government is intensifying efforts to achieve its goal of attracting 30 million foreign tourists by 2030 through the establishment of June 2, 2026

S&P 500 Hits Record High, But Only 20 Stocks Reach New Peaks Amid AI Rally The U.S. stock market reached an all-time high, but the gains were largely concentrated in a few artificial intelligence (AI) stocks. The number of stocks in the S&P 500 hitting new highs was only 20, a level reminiscent of the dot-com bubble peak in 2000, raising concerns about market overheating. On June 1, CNBC reported that the S&P 500 closed at a record high on the last trading day of May. However, only 20 of the S&P 500 constituents recorded individual new highs, with just seven of t June 2, 2026

KB Insurance Launches Drone Insurance for Hobbyists, Offering Coverage Up to 500 Million Won As the number of hobbyist and recreational drone users increases, the market for personal drone insurance is expanding. On June 2, KB Insurance announced the launch of its "KB Drone Liability Insurance (Personal Use)," developed with input from members of the country's largest drone community, DronePlay.This new product is aimed at individual users, distinguishing it from existing drone insurance options that primarily cater to commercial and corporate users.In the product development process, K June 2, 2026

2026 Craft Week to Kick Off on June 19 in South Korea The largest craft festival in South Korea, "2026 Craft Week," will take place nationwide from June 19 to 28, the Korea Craft and Design Promotion Agency announced on June 2. Craft Week focuses on discovering and planning unique craft cultural content through collaboration with local craft institutions. This year's central city for "2026 Craft Week" is Buyeo, selected for its theme "Buyeo, Where Crafts Stay," proposed by the Baekje Cultural Foundation. The event will kick off with an open June 2, 2026

President Lee Calls for Expansion of Voting Rights for Overseas Koreans President Lee Jae-myung emphasized on June 2 that discussions in the National Assembly regarding the expansion of voting rights for overseas Koreans should not be neglected, even in challenging circumstances. During a Cabinet meeting and emergency economic assessment session at the Blue House, President Lee addressed Kim Kyung-hyup, the head of the Overseas Koreans Agency, stating that this issue is the most significant grievance for overseas Koreans and a fundamental right as citizens, not mere June 2, 2026