U.S. PCE Prices Rise 3.8% in April, Highest in Nearly Three Years The U.S. Personal Consumption Expenditures (PCE) price index rose 3.8% in April compared to the same month last year, marking the highest increase in nearly three years, driven by high oil prices amid the ongoing U.S.-Iran conflict. According to a report by Yonhap News on May 28, the U.S. Department of Commerce announced that the PCE price index increased by 0.4% from March. This is the largest rise since May 2023, when it reached 4.0%. Excluding food and energy, the core PCE price index May 29, 2026

Surge in Jeonse Prices in Dongtan Reaches 0.7%, Causing Distress for Homebuyers in Southern Gyeonggi As the housing market in the metropolitan area remains stagnant, homebuyers are increasingly turning to the rental market, exacerbating the jeonse crisis in key areas of Southern Gyeonggi. Regions such as Dongtan in Hwaseong, Seongnam, and Gwangmyeong, which are experiencing significant job growth and improvements in transportation infrastructure, are showing signs of overheating, with weekly jeonse prices rising by as much as 0.7%. According to KB Real Estate's weekly housing market tre May 29, 2026

CEO of Major U.S. Oil Company Predicts Rising Oil Prices in June and July Mike Worth, CEO of the U.S. oil company Sevrun, has forecasted increased pressure on international oil prices in June and July. Although oil prices recently fell amid hopes for a U.S.-Iran agreement, Worth noted that diminishing market buffers, such as inventories and strategic petroleum reserves, could lead to supply disruptions affecting prices. In an interview with the Financial Times on May 28, Worth stated at a conference hosted by investment bank Bernstein, "The market's ability to a May 29, 2026

Hyundai AutoEver Shares Surge 23% on Robotics and SDV Strategy Hopes Hyundai AutoEver's shares soared more than 23% during trading on expectations of benefiting from Hyundai Motor Group's robotics and software-defined vehicle (SDV) strategy, reaching a new 52-week high. According to the Korea Exchange, as of 2:14 PM, Hyundai AutoEver's stock was trading at 919,000 won, up 173,000 won (23.19%) from the previous day. The stock peaked at 953,000 won during the session, setting a new 52-week record. Analysts have identified Hyundai AutoEver as a key benefic May 29, 2026

KOSPI Touches 8458 Points Before Stabilizing Above 8400 The KOSPI index reached a new intraday high, buoyed by strong institutional buying. As of 2:04 PM on May 29, the KOSPI was up 255.05 points (3.12%) at 8440.45, according to the Korea Exchange. The index opened at 8384.31, rising 199.02 points (2.43%) from the previous trading day, and despite some fluctuations, it maintained an upward trend. The index surged to 8458.25, surpassing the previous intraday high of 8457.09. Although it has since given back some gains, it remains solidly abo May 29, 2026

SpaceX Lowers IPO Valuation to $180 Billion, Retreats from $200 Billion Goal Elon Musk's SpaceX has reduced its target valuation for its initial public offering (IPO) to over $180 billion (approximately 2,705 trillion won), down from the previously reported goal of over $200 billion (about 3,006 trillion won). According to Bloomberg on May 29, the company's valuation expectations were adjusted following consultations with advisory firms and investors. SpaceX aims to raise up to $75 billion (around 113 trillion won) in this IPO, which would set a record for the lar May 29, 2026

Police Charge 13 in Alleged Undersea Cable Technology Theft Case Police investigating allegations of technology theft involving LS Cable have determined that Daehan Electric improperly acquired trade secrets. The Southern Gyeonggi Police Agency announced on May 28 that they have referred 13 individuals, including an executive from Daehan Electric and four employees, along with seven representatives from Gaun Architectural Firm and two from an equipment company, to the Suwon District Prosecutors' Office on charges of violating laws related to unfair c May 29, 2026

Dong-A Pharmaceutical's ILO Brand Enters U.S. Market with Olive Young Dong-A Pharmaceutical's inner beauty brand, ILO, has officially entered the U.S. offline market. Traditionally, pharmaceutical companies have relied on distribution networks centered around pharmacies and hospitals, but there is a growing trend to expand distribution channels to domestic and international offline stores targeting consumers in their 20s and 30s. On May 29, Dong-A Pharmaceutical announced that ILO has officially launched at the Olive Young store in Pasadena, California. Th May 29, 2026

SK Bioscience Selected for National Growth Fund, Secures 300 Billion Won SK Bioscience announced on May 29 that it has finalized a funding plan based on the National Growth Fund during its regular board meeting. This decision follows the company's selection as a recipient of fund support by the Fund Management Review Committee under the Financial Services Commission the previous day. This marks the first time a domestic drug and vaccine developer has received support from the National Growth Fund. The funding, totaling 300 billion won, will be provided in the May 29, 2026

AI Agents Drive Token Costs Up 1,000%, Sparking Corporate Concerns The widespread adoption of AI agents in the corporate sector is leading to unexpected repercussions. The unique token consumption structure of these agents is driving up AI implementation costs, while employees are engaging in a phenomenon known as "token maxing," where they repeatedly perform meaningless tasks to inflate internal AI usage metrics, deepening corporate concerns. A paper released on May 29 by Microsoft Research and Stanford University reveals that agent-based coding tasks May 29, 2026