Exchange Rate Starts Lower Before Climbing Back Above 1500 Won as Foreign Selling Continues The won-dollar exchange rate is showing an upward trend. As of 10:39 a.m. in the Seoul foreign exchange market, the exchange rate stands at 1501.3 won per U.S. dollar. The rate opened at 1495.5 won, down 7.3 won from the previous session, before climbing back above 1500 won. Analysts attribute this fluctuation to a recovery in risk appetite overnight, although foreign capital continues to exit the domestic market. On Wall Street, the Dow Jones Industrial Average closed up 24.69 point May 29, 2026

LS Cable and Daehan Cable Dispute Escalates Amid Technology Theft Allegations The conflict between LS Cable and Daehan Cable over alleged technology theft has intensified, reflecting a fierce competition for dominance in the domestic undersea cable market. As global investments in offshore wind and power networks grow, undersea cables have emerged as a key growth area for the wire and cable industry, heightening tensions between the leading LS Cable and the pursuing Daehan Cable. On May 28, the Southern Gyeonggi Police Agency's Security Investigation Division refer May 29, 2026

Shell Korea Appoints Min Ji-sun as New CEO Shell Korea announced on May 29 that it has appointed Min Ji-sun as its new CEO, effective June 1. Min joined Shell in 2014 and has worked in various areas, including stakeholder and risk management, as well as external collaboration in liquefied natural gas (LNG) and renewable energy sectors. In addition to her role as CEO, Min will continue to oversee external collaboration efforts. She aims to strengthen partnerships with various stakeholders in the Korean market and enhance synergie May 29, 2026

Blue House Calls for Public Discussion on Samsung's Excess Profits Distribution The Blue House has expressed support for public discussions regarding the distribution of excess profits by Samsung Electronics, following comments made by Minister of Employment and Labor Kim Young-hoon. On May 28, Kang Yoo-jung, the Blue House spokesperson, stated during a briefing that it would be beneficial to have opportunities for public discourse through future discussions. Kang noted, "The Minister of Labor can mention the necessity of sharing achievements from his perspective, wh May 29, 2026

Jung Won-oh's Campaign Files Complaint Against Oh Se-hoon for Election Law Violations Jung Won-oh's campaign committee for the Democratic Party plans to file a complaint against Oh Se-hoon, the candidate from the People Power Party, for obstruction of business and violations of election law on May 29 at the Seoul Metropolitan Police Agency. During a press conference at the National Assembly, Lee Hae-sik, the head of Jung's campaign, and Chae Hyun-il, the head of the comprehensive situation headquarters, stated, "Evidence has emerged that Oh's campaign internally planned, p May 29, 2026

Candidates Cast Votes, Urge Action Against Lee Government's Overreach 6.3 local elections began early voting on May 29, with Oh Se-hoon, the People Power Party candidate for Seoul mayor, Han Dong-hoon, an independent candidate for the National Assembly in Busan, and Lee Jun-seok, leader of the Reform Party, all voicing the need to prevent the overreach of the Lee Jae-myung government as they cast their ballots. Oh arrived at an early voting site at the Hanam-dong community center in Yongsan-gu, Seoul, around 8 a.m. with his wife, Song Hyun-ok, a professor at May 29, 2026

Chinese AI Startup Minimax Enters Agent Market at Fraction of U.S. Prices A Chinese large language model (LLM) with frontier-level performance is making significant inroads into the domestic AI agent market, offering prices as low as one-twentieth of comparable U.S. models. Following DeepSeek, Minimax has begun targeting the South Korean market, prompting local companies to consider switching to Chinese AI solutions due to cost concerns. According to the IT industry on the 28th, Chinese AI startup Minimax has launched its services in South Korea. The company May 29, 2026

Seoul Mayoral Debate Highlights Clash Between Accountability and Stability The only televised debate for the Seoul mayoral election ultimately showcased a direct confrontation between the themes of accountability and stability. However, what lingered in voters' minds after the debate was less about the accountability of Oh Se-hoon, the candidate from the People Power Party, and more about the scrutiny surrounding Jung Won-o from the Democratic Party. The debate, organized by the National Election Commission, took place from 11 p.m. on May 28 to 1 a.m. on Ma May 29, 2026

Public Housing Crisis in Gangil-dong Sparks Debate on Welfare and Independence A public housing crisis in Gangil-dong, Seoul, has reignited the debate over welfare and self-sufficiency. Recently, an anonymous post on the workplace community platform "Blind" claimed that the Gangil-dong situation was a "massive social experiment." The author, identified as A, stated, "Providing nearly free housing for 20 years raises the question of whether it fosters independence or leads to dependency. The conclusion is that despite 20 years of affordable rent, residents have not May 29, 2026

AMD Appoints Vinay Awasti as Vice President for Asia-Pacific Sales AMD announced on May 29 that it has appointed Vinay Awasti as Senior Vice President of Sales for the Asia-Pacific and Japan region. According to AMD, Awasti will be based in Singapore and will focus on expanding original equipment manufacturer (OEM) and channel partnerships, while enhancing customer collaboration across the Asia-Pacific region. This initiative aims to support ongoing growth in cloud, enterprise, artificial intelligence (AI), commercial, and consumer sectors. Awasti is r May 29, 2026