President Lee Casts Early Vote Ahead of Local Elections On May 29, President Lee Jae-myung participated in early voting for the local elections and the National Assembly by-elections at a polling station in the Samcheong-dong community center near the Blue House. Wearing a gray tie, President Lee arrived around noon with his wife, Kim Hye-kyung, and Chief of Staff Kang Hoon-sik to cast their votes. A Blue House official stated, "This early voting is targeted at the Incheon Gyeyang-eul district, which is the President's registered reside May 29, 2026

Paris Baguette Strengthens Southeast Asia Strategy with Indonesia Halal Certification Paris Baguette announced on May 29 that it has received official halal certification from the Halal Product Assurance Agency (BPJPH) for all 23 of its stores in Indonesia.The certified locations include stores in Jakarta, Tangerang, Depok, Medan, and Surabaya. Following its halal certification in Singapore, Paris Baguette is expected to accelerate its expansion in the Southeast Asian market.Halal certification indicates compliance with Islamic law regarding the use of ingredients and standards f May 29, 2026

Industrial Activity Declines Amid Middle East Conflict Fallout Last month, overall industrial activity, including production, consumption, and investment, experienced a decline, marking the first instance of a "triple decrease" since August of last year. Concerns have been raised that the fallout from the Middle East conflict, which began in late February, is now taking a toll, although some analysts suggest this may be a temporary adjustment. Oil Refining Plummets, Fuel Sales Drop, Investment Weakens According to the "April 2025 Industrial Activity Tr May 29, 2026

Supreme Court Rules on Compensation for School Violence Case The Supreme Court has upheld a ruling requiring lawyer Kwon Kyung-ae to pay 65 million won to the family of a school violence victim after she failed to appear in court three times during the appeals process. The court also stated that the validity of a 90 million won payment agreement Kwon signed after the fact must be reassessed, potentially increasing her financial liability. On May 29, the Supreme Court's first division, led by Justice Seo Kyung-hwan, overturned part of the lower cour May 29, 2026

KOSPI Touches 8,424 Before Pulling Back, Fluctuates Around 8,300 The KOSPI index touched 8,424 during trading but later reduced its gains, fluctuating around the 8,300 mark. According to the Korea Exchange, as of 11:58 a.m. on May 29, the KOSPI was up 185.32 points (2.26%) at 8,370.61. The index opened at 8,384.31, rising by 199.02 points (2.43%) from the previous session, reaching a high of 8,424.53 before pulling back to the 8,300 level. In terms of trading activity, individuals and foreign investors sold a net 667.5 billion won and 1.4883 trilli May 29, 2026

April Tax Revenue Reaches 55.2 Trillion Won Amid Rising Corporate and Income Taxes Tax revenue in South Korea has shown an upward trend, coinciding with a strong performance in semiconductor exports. According to the Ministry of Finance and Economy, corporate tax revenue has increased due to improved corporate performance, while income tax has also risen due to higher performance bonuses. Additionally, the securities transaction tax has surged due to a booming stock market. In its report released on May 29, the ministry stated that tax revenue for April reached 55.2 tri May 29, 2026

Workplace Childcare Facility Compliance Rate Reaches 94.9% As of 2025, the compliance rate for the mandatory establishment of workplace childcare facilities for businesses with 500 or more employees or 300 or more female employees has reached 94.9%, an increase from the previous year. The government has also released a list of 10 businesses that failed to meet this requirement.On May 29, the Ministry of Employment and Labor and the Ministry of Education announced the results of a survey on compliance with the workplace childcare facility mandate. Out of May 29, 2026

Public Institutions Tighten Hiring Standards for Non-Regular Workers Public institutions are making it more difficult to hire non-regular workers. The government is expanding the pre-screening process for hiring non-regular workers to include subsidiaries and affiliated organizations, as well as assessing the necessity of fixed-term hiring and the allocation of budgets for improving working conditions. This move aims to curb the abuse of non-regular employment in the public sector and reinforce the principles of regular hiring. On May 29, the Ministry of Em May 29, 2026

April Mortgage Rates Drop 0.03% for First Decline in Seven Months Mortgage rates for housing loans fell last month for the first time in seven months. The share of fixed-rate loans dropped below half, reaching its lowest level in four years and nine months. According to the Bank of Korea's "Weighted Average Interest Rate" statistics released on May 29, the weighted average mortgage rate for new loans at deposit banks was 4.31% in April, a decrease of 0.03 percentage points from the previous month. This marks the first decline since October of last year. May 29, 2026

April Foreign Currency Deposits Increase by $8.5 Billion as Investors Expand Deposits Last month, foreign currency deposits held by domestic residents increased by over $8.5 billion, rebounding after a record decline the previous month. According to the Bank of Korea's report on 'Trends in Resident Foreign Currency Deposits' released on May 29, the balance of foreign currency deposits held by residents at foreign exchange banks was recorded at $110.68 billion as of the end of April. Resident foreign currency deposits refer to deposits made by Korean nationals, domestic May 29, 2026