Oh Se-hoon Campaign Criticizes Jung Won-o's Housing Policy Record As the Seoul mayoral election approaches, the debate over housing supply intensifies. Oh Se-hoon's campaign responded to Jung Won-o's criticism of the current housing policy by stating, "During Jung's 12 years as Seongdong District Mayor, the completion rate for redevelopment projects was effectively '0%.'" Lee Chang-moo, head of Oh Se-hoon's election campaign's Special Committee on Real Estate Normalization, issued a statement on May 22, asserting that Jung's attacks on Oh's housing May 23, 2026

Shinhan and Woori Banks Compete for 16 Trillion Won District Treasury Contracts Woori Bank and Shinhan Bank, which competed for the 51 trillion won Seoul city treasury bid, are set to face off again in the bidding for district treasuries in Seoul. Following Shinhan Bank's successful retention of the city treasury, attention is focused on whether Woori Bank, which currently operates the most district treasuries at 14, can maintain or regain its position. According to financial industry sources and the Ministry of the Interior and Safety on May 22, the contracts for di May 23, 2026

KOSPI Closes Slightly Higher Amid Foreign Profit-Taking; KOSDAQ Surges Nearly 5% The KOSPI index closed slightly higher, supported by net buying from institutions and individuals despite significant profit-taking by foreign investors. As large-cap semiconductor stocks took a breather, a rotation into growth sectors like pharmaceuticals, biotechnology, and secondary batteries propelled the KOSDAQ index to a nearly 5% surge. According to the Korea Exchange, the KOSPI finished at 7,847.71, up 32.12 points (0.41%) from the previous trading day. The index opened at 7,873.1 May 23, 2026

K-Bio Achieves $6.5 Billion in Technology Transfers in First Half of 2026 The South Korean biotechnology sector, which achieved record technology exports last year, is showing resilience in the first half of 2026 with a series of significant contracts. As major conferences and partnering events are set to commence in the latter half of the year, attention is focused on whether additional large deals will follow on the global stage. As of mid-May, the scale of technology transfers in the domestic biotech industry reached $6.5 billion, about half of last year's t May 23, 2026

Lawyers Group Condemns Supreme Court Ruling on Hyundai Heavy Industries Union Negotiations The Lawyers for a Democratic Society (Minbyeon) has strongly condemned the Supreme Court's ruling that dismissed a collective bargaining request by the subcontracted workers' union at Hyundai Heavy Industries, calling it unconstitutional and outdated. On May 22, Minbyeon stated in a commentary that "the three rights of labor are specific rights that directly take effect under constitutional provisions, with the right to collective bargaining being the most fundamental." They emphasized th May 23, 2026

President Lee Meets ILO Chief, Emphasizes Balance in Labor Rights and Innovation in AI Era President Lee Jae-myung met with Gilbert Houngbo, the Secretary-General of the International Labor Organization (ILO), to discuss labor policies in the age of artificial intelligence (AI). In a written briefing on the afternoon of May 22, Chief Spokesperson Kang Yu-jeong stated, "President Lee and Secretary-General Houngbo acknowledged that balancing the protection of labor rights and technological innovation is a critical challenge for the international community amid significant cha May 23, 2026

Kim Si-woo Ties for Fourth on First Day of The CJ Cup Kim Si-woo made a strong start at The CJ Cup Byron Nelson, part of the PGA Tour, with a solid performance on the first day of the tournament, which has a total prize purse of $10.3 million. On May 22, in McKinney, Texas, at TPC Craig Ranch (par 71), Kim recorded eight birdies and one bogey, finishing with a score of 7-under 64. He is tied for fourth place with Keith Mitchell, Michael Thorbjornsen (both from the U.S.), Emiliano Grillo (Argentina), Stephan Jaeger (Germany), and Hirata Gensei May 23, 2026

Elon Musk's Starship V3 Test Flight Canceled 40 Seconds Before Launch Elon Musk's SpaceX canceled the first test flight of its next-generation spacecraft, Starship V3, just before launch. The countdown was halted less than a minute before liftoff due to a problem with the launch pad equipment. According to Reuters and other sources on May 21, SpaceX called off the 12th test flight of the Starship at its Starbase facility in Texas. The launch was stopped approximately 30 to 40 seconds before takeoff. Reports indicate that the issue was caused by a hydraulic p May 23, 2026

Jo Eung-cheon Calls for Yang Hyang-ja to Clarify Stance on GTX Suspension Jo Eung-cheon, the Gyeonggi governor candidate from the Reform Party, urged Yang Hyang-ja, the People Power Party candidate, to clarify her position regarding the suspension of the GTX-A construction at Samsung Station, which was recently mentioned by Jung Won-o, the Democratic Party's candidate for Seoul mayor.During an emergency press conference at the National Assembly on May 22, Jo asked, "Do you agree with Jung's statement about halting the GTX-A construction at Samsung Station?"He emphasiz May 23, 2026

Second Round of High Oil Price Relief Fund Applications Exceeds 60% The government reported that the application rate for the second round of the high oil price relief fund surpassed 60% within four days. The total number of applicants for both rounds approached 23 million. According to the Ministry of Interior and Safety, as of midnight on May 22, the cumulative number of applicants for the first and second rounds of the relief fund reached 22,914,804, accounting for 63.8% of the total eligible recipients, which stands at 35,929,596. The total amount disb May 23, 2026