Jung Cheong-rae Calls for Apology from Shinsegae Chairman and Lawmaker Over Starbucks Controversy Jung Cheong-rae, the chairman of the Democratic Party, has called on Shinsegae Group Chairman Shin Yong-jin and People Power Party floor leader Song Eon-seok to "kneel and apologize" regarding the ongoing controversy surrounding Starbucks Korea's "Tank Day." He also announced plans to propose a strengthened version of the 5·18 special law. During a meeting of the election campaign committee in Cheongju on May 22, Jung stated, "There must never be a denial of history or an insult and mocke May 23, 2026

Chinese State Media Calls President Lee Jae-myung a Formidable Leader Chinese state media has recently focused on President Lee Jae-myung's approach to China and his practical diplomatic efforts. They noted his public pushback against rising anti-China sentiment in South Korea and his emphasis on the necessity of trilateral cooperation among South Korea, China, and Japan during Korea-Japan diplomatic discussions, labeling him as "a formidable leader." The Newtanqin account, affiliated with the Chinese state-run Xinhua News Agency, highlighted President Lee' May 23, 2026

Labor Minister: Emergency Mediation Authority Unthinkable Amid Samsung Electronics Struggles Kim Young-hwan, the Minister of Employment and Labor, stated on May 22, "The thought of using emergency mediation authority is something I could never imagine." He firmly disagreed with claims that the recent strike by the Samsung Electronics union could be attributed to the revised labor union law, known as the Yellow Envelope Law. In an appearance on MBC Radio's "Kim Jong-bae's Focus," Kim commented on the negotiations between Samsung Electronics and its labor union, saying, "Our society May 23, 2026

Farm Income Rebounds in 2025, While Fisheries Income Declines After a decline, farm income successfully rebounded last year, while fisheries income decreased, reflecting mixed trends. Despite a record high seafood export of $3.33 billion last year, it did not significantly impact fisheries income. The National Data Agency released the "2025 Farm and Fisheries Economic Survey Results" on May 22. The average annual income for farms was reported at 54.67 million won, an 8.0% increase from the previous year. While agricultural income, transfer income, and May 23, 2026

Household Loans Increase in Q1, Driven by Housing and Jeonse Loans for 30s and 40s In the first quarter of this year, household loans for individual borrowers increased, primarily driven by mortgage and jeonse loans. According to preliminary statistics on household debt by the Bank of Korea released on May 22, the average new household loan amount per borrower was 35.42 million won, an increase of 990,000 won from the previous quarter. This marks a reversal from a decrease of 4.09 million won in the prior quarter. The increase was particularly notable among borrowers May 23, 2026

Democratic Party Forms Task Force to Investigate Allegations of Missing Rebar in GTX-A Project The Democratic Party has established a task force to thoroughly investigate recent allegations regarding missing rebar in the GTX-A line, holding its first meeting on May 22. The party has indicated that there are signs suggesting Oh Se-hoon, the candidate from the People Power Party, attempted to cover up the issue. Led by Cheon Jun-ho, the task force includes members such as Han Jeong-ae, Lee Joo-hee, Choi Gi-sang, Jeon Yong-gi, Lee Hae-sik, and Park Min-kyu. During a press conference a May 23, 2026

Korea Gas Corporation Signs Long-Term LNG Import Deal with BP Korea Gas Corporation (KOGAS) has signed a long-term agreement with global energy company BP to import an additional 700,000 tons of liquefied natural gas (LNG) annually for ten years starting in 2028. KOGAS announced on May 22 that the contract was finalized on May 21. This follows a previous agreement made in August of last year to import 3.3 million tons of U.S. LNG annually. The new contract is expected to enhance the stability of South Korea's natural gas supply. The agreement aims t May 23, 2026

Samsung TV Plus Expands FAST Territory with Free NCT Wish Concert Samsung Electronics' ad-supported free streaming service, Samsung TV Plus, is collaborating with SM Entertainment to launch a "Monthly SM Concert" series. According to Samsung Electronics on May 22, Samsung TV Plus will unveil new live performances by SM Entertainment artists each month. Last year, it attracted global K-pop fans with an exclusive live broadcast of "SMTOWN LIVE 2025 in L.A." The Monthly SM Concert will be exclusively available on Samsung TV's dedicated channel, STN, and May 23, 2026

Korean Privacy Commission to Implement Risk-Based Inspections in Second Half of 2026 The Personal Information Protection Commission (PIPC) will begin implementing a risk-based inspection system in the second half of 2026, focusing on the risk levels associated with personal data breaches. This initiative aims to transition from a reactive enforcement approach to a preventive management system, responding to the increasing complexity of data processing due to the rise of artificial intelligence (AI) and cloud services. On May 22, the PIPC announced its "Preventive Personal May 23, 2026

POSCO International to Build Rare Earth Processing Facility in the U.S. POSCO International is making a significant entry into the rare earth separation and permanent magnet production business in the United States. On May 21, POSCO International signed an agreement in Washington, D.C., with U.S. rare earth separation company ReElement to establish a joint venture for rare earth separation production in the U.S. This agreement marks the official launch of the "Boilermaker Project," which has been in development since September of last year. POSCO Internatio May 23, 2026