Semiconductor Demand Drives Record $87.7 Billion in May Exports, Surplus Reaches $101.9 Billion South Korea's exports surged over 50% year-on-year in May, reaching a record high. Despite uncertainties stemming from the Middle East conflict, semiconductor exports more than doubled, significantly contributing to the overall increase. The average daily export value also surpassed $4 billion for the first time, with the surplus from January to May exceeding annual records. According to the Ministry of Trade, Industry and Energy and the Korea Customs Service, May's export value totaled $ June 1, 2026

Korbit Launches Contact-Based Cryptocurrency Transfer Service Korbit, a leading cryptocurrency exchange in South Korea, has introduced a new service that allows users to send virtual assets using only a phone number and real name. This service eliminates the need for complex wallet address entries, enhancing the convenience of cryptocurrency transfers to resemble traditional bank transfers. On June 1, Korbit announced the launch of its "Send via Contact" service, which enables users to transfer virtual assets without entering the recipient's wall June 1, 2026

Bank of Korea Governor Shin Hyun-sung Emphasizes Trust as the Essence of Currency Bank of Korea Governor Shin Hyun-sung emphasized that the essence of currency lies in trust, not technology. He explained that the central bank's role is to provide a public framework that allows society to trust and use currency. In his opening remarks at the '2026 BOK International Conference' held on June 1 at the Bank of Korea headquarters in Seoul, Shin stated, "The origin of the central bank is fundamentally related to its public nature, which is a very compelling argument." Shi June 1, 2026

Companies Honor Fallen Heroes with Memorial Activities As Memorial Day and the Month of National Defense approach, various companies are engaging in social contribution activities to honor veterans. Executives and employees are participating directly to commemorate the sacrifices of fallen heroes and fulfill their social responsibilities. According to industry sources, SKC conducted a grave site cleaning activity at the National Seoul Memorial Cemetery to honor fallen heroes ahead of the 71st Memorial Day. The event included participation from June 1, 2026

Won-Dollar Exchange Rate Rises Amid Diminished U.S.-Iran Peace Hopes The won-dollar exchange rate opened higher as hopes for a U.S.-Iran peace agreement faded. In the Seoul foreign exchange market on June 1, the exchange rate for the Korean won against the U.S. dollar was 1508.1 won. The rate opened at 1508.8 won, up 0.9 won from the previous session. The renewed preference for safe assets appears to be linked to difficulties in the U.S.-Iran peace negotiations. At the same time, the dollar index, which measures the value of the U.S. dollar against six m June 1, 2026

Defender Jo Yu-min Injured, Out of World Cup; Jo Wi-je Replaces Him Jo Yu-min, a central defender for the South Korean national team, will miss the 2026 FIFA North Central America World Cup due to injury. On June 1, the team, led by coach Hong Myung-bo, announced that Jo Yu-min has been released from the squad due to his injury. According to the team, Jo was diagnosed with a partial tear of the plantar fascia in his right foot, requiring an estimated eight weeks for recovery following a medical examination. Jo sustained the injury while playing as a c June 1, 2026

Kakao Union to Strike for Job Security and Compensation Reform The Kakao Union plans to initiate a partial strike on June 10. The union argues that ongoing sales, spin-offs, and restructuring have created job insecurity and demands improvements to the management-centered compensation system. In a statement on June 1, the Kakao branch of the Korean Confederation of Trade Unions said, "Our core demand is to stop the sales, spin-offs, and restructuring resulting from continuous management failures and to secure job stability. We also seek to reform the June 1, 2026

LG Group Stocks Surge Amid Anticipation of Jensen Huang and Koo Kwang-mo Meeting LG Group stocks experienced a significant surge on June 1, driven by expectations surrounding the visit of NVIDIA CEO Jensen Huang and his meeting with LG Group Chairman Koo Kwang-mo. This rise is also attributed to a reassessment of the value of artificial intelligence (AI) and robotics businesses. According to the Korea Exchange, as of 9:32 a.m., LG Electronics shares rose by 81,000 won (27.65%) to 374,000 won compared to the previous trading day. LG CNS saw an increase of 29,600 won ( June 1, 2026

Kang Hoon-sik Travels to Canada to Support Submarine Bid and Energy Cooperation Kang Hoon-sik, Chief of Staff to President Lee Jae-myung, is visiting Canada as a special envoy for strategic economic cooperation. His trip is expected to focus on expanding energy and supply chain collaboration, as well as supporting a major submarine project involving South Korean companies. On May 31, Kang departed for Canada with officials from the Ministry of Trade, Industry and Energy and the Ministry of Foreign Affairs, along with representatives from businesses and organizations June 1, 2026

Efforts to Boost Regional Tourism in South Korea Target Foreign Visitors The South Korean tourism industry is actively working to redirect foreign visitors from the metropolitan area to regional destinations. Moving beyond the previous approach of encouraging simple visits to tourist attractions, the industry is focusing on creating direct flight demand from high-income target groups, discovering local content, and improving on-site infrastructure. This strategy aims to enhance the quality and diversity of K-tourism beyond mere quantitative recovery. ◆ Target June 1, 2026