Kuwait's Air Defense System Responds to Missile and Drone Threats Kuwait's air defense system is actively responding to threats from missiles and drones, according to reports. This announcement comes amid claims of additional U.S. airstrikes on Iran and assertions of retaliation from Iran, although the identity of those behind the threats and any potential damage remain unconfirmed. It is also unclear if these events are directly related to Iran's retaliation. On May 28, the Kuwait military stated that its air defense system is intercepting missiles and May 28, 2026

Naver to Invest 1 Trillion Won in AI Content and Creator Ecosystem Over Five Years Naver is accelerating its efforts to enhance its artificial intelligence (AI) search competitiveness by expanding its content and creator ecosystem. The company believes that the strength of its AI platform lies in content based on service experience. Naver plans to invest 1 trillion won over the next five years to secure quality content and strengthen its creator compensation system. Having grown as a search portal in the 2000s while creating a creator ecosystem, Naver sees this ecosyste May 28, 2026

Bank Contributions Exceed 2 Trillion Won, Focus on Community and Financial Support As the government emphasizes inclusive finance to support vulnerable groups, the banking sector's social contributions surpassed 2 trillion won last year. This increase is attributed to expanded spending on community public projects and financial support for low-income individuals. According to the "2025 Bank Social Contribution Activity Report" published by the Korea Banking Association on May 28, the total amount of social contributions by banks reached 2.156 trillion won, an increase o May 28, 2026

Tax Agency Targets Supercar Tax Evasion Among Corporations The National Tax Service (NTS) has launched investigations into individuals suspected of tax evasion by using corporate funds for personal luxury, including the private use of supercars registered under corporate names. Following the introduction of green license plates, there has been a resurgence in the purchase of high-value corporate vehicles, prompting the NTS to target these irregular tax practices involving 'corporate supercars.' On May 28, the NTS announced that it has selected 19 May 28, 2026

Labor Minister Kim Young-hoon Addresses Controversy Over Excess Profit Distribution Kim Young-hoon, the Minister of Employment and Labor, stated on May 28 that there are misconceptions suggesting the government intends to seize and redistribute profits from large corporations. He emphasized, "The government has neither the authority nor the intention to forcibly intervene in legitimate corporate profits." In a post on his social media, Minister Kim addressed the ongoing debate regarding the distribution of excess profits by large companies, asserting that it misinterprets May 28, 2026

Bank of Korea Governor Shin Hyun-sung: Semiconductor Boom to Benefit All Citizens Bank of Korea Governor Shin Hyun-sung stated on May 28 that the ongoing semiconductor boom will lead to increased benefits for all citizens through fiscal measures. During a press conference following the Monetary Policy Committee meeting, Shin noted that the bonuses distributed due to the semiconductor boom will be subject to income tax, contributing to a trickle-down effect. He anticipates that these benefits will materialize through government spending next year. He added, "While the May 28, 2026

People Power Party Reports Competitive Races Ahead of Local Elections People Power Party officials classified Daegu and Gyeongbuk as strongholds and identified Seoul, Daejeon, Chungcheong, Busan, Ulsan, and Gyeongnam as competitive regions on May 28, one day before early voting for the June 3 local elections and National Assembly by-elections. For the by-elections, they deemed Daegu's Dalseong County a stronghold, while Ulsan's Nam-gu and Chungnam's Gongju, Buyeo, and Cheongyang were seen as competitive areas.Jung Hee-yong, the party's secretary-general, held a pr May 28, 2026

Bank of Korea Governor Shin Hyun-song Vows Firm Action Against Currency Volatility Bank of Korea Governor Shin Hyun-song stated on May 28 that he will take decisive action against the recent volatility in the won-dollar exchange rate. Following a monetary policy committee meeting where the base rate was held steady at 2.50%, Shin emphasized, "We will not tolerate exchange rate volatility, and we have the means and will to address it through various methods." He identified the ongoing conflict in the Middle East as the primary factor contributing to the weakening of May 28, 2026

Climate Ministry Reveals 158 Violations of Construction Waste Law, Including Major Firms Hyosung Heavy Industries, Daebang Construction, and the Korea Land and Housing Corporation (LH) are among the 158 entities publicly identified for violating the construction waste law last year. The Ministry of Climate, Energy and Environment announced that it will disclose the names of the corporations, project names, violations, and penalties for these infractions from January to December 2025 on its website for one year starting from May 28. This disclosure represents approximately 13.1% of t May 28, 2026

34 Businesses Caught Engaging in Unpaid Labor, Owing 448 Million Won 34 businesses have been caught by labor authorities for engaging in what is termed "unpaid labor" by misusing comprehensive wage systems, including fixed overtime pay. The Ministry of Employment and Labor announced on May 28 that it identified these businesses during a two-month oversight initiative aimed at eradicating the misuse of comprehensive wage systems, which began on February 26. The total amount of unpaid wages owed by these businesses is 448 million won. Comprehensive wage syste May 28, 2026