U.S.-Iran Ceasefire Offers Temporary Relief, Calls for 'Noah Covenant' for Lasting Peace In May 2026, the Middle East once again demonstrated its volatility as tensions escalated between the United States and Iran, bringing the world economy to a standstill amid fears of conflict in the Hormuz Strait. International oil prices surged, financial markets wobbled, and nations braced for the possibility of a full-scale war in the region. Fortunately, reports indicate that the U.S. and Iran are nearing an agreement to extend a ceasefire and finalize a memorandum of understanding (M May 24, 2026

President Lee Visits Major Buddhist Temples to Promote National Unity President Lee Jae-myung attended ceremonies for Buddha's Birthday on May 24, 2026, visiting the Jogye, Taego, and Cheontae sects to promote national unity and well-being.This marks the first time a sitting president has visited all three major Buddhist sects on Buddha's Birthday. It is also the first instance of a sitting presidential couple attending these ceremonies together.On the morning of the celebration, President Lee and First Lady Kim Hye-kyung participated in the ceremony hosted by the May 24, 2026

Iran Claims MOU with U.S. Could Restore Hormuz Strait Traffic to Pre-War Levels As discussions about a potential Memorandum of Understanding (MOU) between the United States and Iran gain traction, Iran has stated that while traffic through the Hormuz Strait will normalize, it will maintain control over the waterway. According to Yonhap News and other sources, Iranian news outlet Tasnim reported on May 24 that it had obtained a draft of a tentative agreement between the U.S. and Iran. The report indicated that an announcement of the MOU is expected if both sides agr May 24, 2026

Democratic Party Criticizes People Power Party for Focus on Smear Campaigns The Democratic Party criticized the People Power Party on May 24 for focusing solely on malicious smear tactics ahead of the June 3 local elections. They called for an apology from Kim Kwan-young, the candidate for governor of North Jeolla Province, for his claims of prior communication with President Lee Jae-myung regarding his independent candidacy, which they asserted were false. Kang Jun-hyun, the Democratic Party's chief spokesperson, held a press conference at the National Assembly May 24, 2026

Jang Dong-hyuk Calls for Political Exile of Park Chan-dae Over Allegations of Corruption Jang Dong-hyuk, the chairman of the People Power Party, visited Incheon on May 24 to rally support against Democratic Party candidates Park Chan-dae for mayor and Song Young-gil for the Incheon Yeonsu-gap district. During the campaign event at Okryun Market in Yeonsu-gu, Jang criticized the Democratic Party's policies and called for the removal of Park from the political arena. He referred to Park as 'Park Chan-daejang-dong' and claimed, "He wants to turn Incheon into a second Daejang-d May 24, 2026

U.S. and Iran Near 60-Day Ceasefire Agreement, But Nuclear Deal Challenges Remain Speculation is growing that the United States and Iran are nearing a memorandum of understanding (MOU) that would extend a 60-day ceasefire and resume nuclear negotiations. However, experts warn that reaching a final nuclear agreement could take considerable time due to significant differences over key issues such as halting uranium enrichment, handling highly enriched uranium, and lifting sanctions against Iran. According to reports from Yonhap News and Axios, a U.S. political news outlet, May 24, 2026

Kim Si-woo Maintains Lead at CJ Cup, Eyes Fifth PGA Tour Victory Kim Si-woo maintained his lead on the third day of the CJ Cup Byron Nelson, part of the PGA Tour, moving closer to his fifth career victory. On May 24, during the third round held at TPC Craig Ranch in McKinney, Texas, Kim shot a 3-under 68, with six birdies and three bogeys. With a total score of 21-under 192, Kim is two strokes ahead of defending champion Scottie Scheffler and Wyndham Clark, both at 19-under 194, marking his second consecutive day in the lead. Kim started strong, ma May 24, 2026

U.S. and Iran Near Agreement to End Hostilities As the U.S. and Iran appear to be nearing an agreement to end hostilities, Iranian state media reported that discussions have taken place regarding mutual restraint from attacks. Preliminary outlines of a potential agreement include a ceasefire extension and the opening of the Strait of Hormuz. On May 24, local time, Reuters and Yonhap reported that Iran's FARS news agency stated that a draft memorandum of understanding (MOU) between the U.S. and Iran includes a commitment from the U.S. May 24, 2026

Political Tensions Rise Over Starbucks Controversy Linked to President Lee Jae-myung The political landscape has become increasingly contentious following President Lee Jae-myung's criticism of Starbucks over its marketing related to the May 18 Democratic Movement and the release of a 'Siren Mug' to commemorate the 10th anniversary of the Sewol ferry disaster. The opposition, particularly the People Power Party, has accused the president of excessive incitement, while the ruling Democratic Party argues he is voicing the public's justified anger. According to reports from Yo May 24, 2026

Seoul Mayoral Candidates Share Messages on Buddha's Birthday Seoul mayoral candidates Jung Won-o of the Democratic Party and Oh Se-hoon of the People Power Party met on May 24 to celebrate Buddha's Birthday. Jung stated, "I will become a mayor who takes care of the lives of vulnerable groups," while Oh expressed his commitment to "embracing the socially disadvantaged and creating a community in Seoul where the quality of life improves." The two candidates attended the Buddha's Birthday ceremony at Jogyesa Temple and later shared their celebratory May 24, 2026