Korea's Fair Trade Commission Discovers $15 Billion Price-Fixing Scheme The Fair Trade Commission (FTC) highlighted its detection of a $15 billion price-fixing scheme as a key achievement in the first year of President Lee Jae-myung's administration.During a cabinet meeting on May 20, FTC Chairman Joo Byeong-ki presented the administration's major accomplishments over the past year.The fines imposed for significant price-fixing cases include: 396 billion won for sugar, 3.16 billion won for pork, 338.3 billion won for printing paper, and 590 million won for eggs. Jo May 31, 2026

Supreme Court Recognizes Illegal Data Acquirers as Data Processors The Supreme Court has ruled that individuals who illegally acquire personal data for their own business purposes can still be classified as data processors under the data protection law, even if the acquisition process was unlawful. This decision aims to prevent gaps in victim protection that could arise if illegal acquirers were excluded from liability. According to legal sources on May 31, the Supreme Court's first division, led by Justice Seo Kyung-hwan, upheld a lower court's one-yea May 31, 2026

South Korea Approaches $1 Trillion in Exports, Must Prepare for Post-Semiconductor Era South Korea's exports are on the brink of a historic milestone. Projections indicate that this year's exports will exceed $900 billion for the first time. The Korea Institute for Industrial Economics and Trade recently forecast that exports will reach $924.4 billion in 2026, a 30.3% increase from the previous year. The trade balance is also expected to show a record surplus of around $220 billion. Some analysts predict that the country could soon enter the "trillion-dollar export era."This achie May 31, 2026

Hana Financial Group Successfully Hosts First Money Show Hana Financial Group's inaugural asset management event, the 'Hana Financial Money Show,' was a resounding success. Pre-registration closed within a day, and seats for the event were quickly filled, confirming the strong demand for asset management services.The first 'Hana Financial Money Show' took place on May 28 at the group's headquarters in Myeongdong, Seoul, and was reported to be a success on May 31.Registration for the event was conducted through Hana Financial's main mobile application, May 31, 2026

Seoul's Palace Walking Event Promotes Global Tourism, Says Tourism Chief Jo Tae-sook, the head of the Seoul Tourism Association, emphasized the importance of experiential tourism content utilizing Seoul's palaces while pledging to enhance the global competitiveness of the city's tourism industry on May 31. Speaking at the '2026 Seoul Foreign Palace Walking Event' held in Gwanghwamun Square, Jo stated, "Seoul's palaces are not just cultural heritage; they are valuable tourism resources that embody South Korea's history, tradition, and the unique charm of Seoul." May 31, 2026

Netmarble's 'Soul: Enchant' Character Name Reservation Closes in 15 Minutes, Second Round Announced Netmarble's new massively multiplayer online role-playing game (MMORPG) "Soul: Enchant" saw its character name reservation event close just 15 minutes after it began, demonstrating significant user interest. On May 29 at 8 p.m., the first round of character name reservations ended early, prompting Netmarble to expand server capacity and announce a second round on May 31. The second round of character name reservations will run until June 5 at 8 p.m. It will cover the same six worlds and May 31, 2026

LG Uplus Transitions Corporate Network to Wi-Fi 7, Enhancing Smart Office Capabilities LG Uplus announced on May 31 that it will fully transition its corporate wireless network to the next-generation communication standard, Wi-Fi 7 (802.11be), while also restructuring its authentication methods and network architecture. Wi-Fi 7 offers theoretical speeds up to 4.8 times faster than its predecessor, Wi-Fi 6/6E, along with ultra-low latency. To enhance the wireless environment at its main office, which experiences high traffic, LG Uplus has adopted key technologies from Wi-Fi May 31, 2026

Transforming South Korea: The AI Semiconductor Revolution History does not offer the same opportunities to every nation. Some countries remain peripheral for centuries, while others decline after missing a single chance. However, there are rare instances where nations seize new opportunities at pivotal moments in history. South Korea is currently in such a situation. In the 1960s and 1970s, South Korea laid the foundation for economic growth through steel and shipbuilding. In the 1980s and 1990s, it entered the global market with its electronics and au May 31, 2026

Test Drive: The New Grandeur, a Symbol of Success Hyundai's Grandeur, long regarded as a symbol of success, has returned with a facelift model after approximately three years and five months. This update marks a significant shift towards a software-defined vehicle (SDV). On May 28, I took a round trip of about 140 kilometers from the Godeok Business Valley in Gangdong-gu, Seoul, to Floating Flow in Chuncheon, Gangwon Province, with a passenger in the New Grandeur. The most striking feature from the driver's seat was the 17-inch display t May 31, 2026

Lithuania Welcomes German Troops Amid Russian Threats Lithuania, a Baltic nation with a history of suffering under Nazi occupation in the 1940s, is now welcoming German troops, according to a report by The New York Times on May 30. As Russia poses a threat to Eastern European countries, Lithuania is embracing the presence of German and U.S. forces as a means of defense. In Vilnius, a local chef, Liutauras Ceprackas, expressed his support for the German troops stationed in the country. He noted that his Lithuanian customers are concerned abou May 31, 2026