Hanmi Science Launches Dermacosmetic Brand 'ADESII' to Expand Beauty Business Hanmi Science, the holding company of Hanmi Group, announced on May 21 that it has launched the dermacosmetic brand 'ADESII' as part of its strategy to penetrate the beauty market. As the dermatological science-based dermacosmetic sector becomes a key pillar of K-beauty, the company is well-positioned to enter the market, leveraging its existing pharmaceutical raw material technology and the trust associated with its pharmaceutical background. ADESII is a premium dermacosmetic brand that May 21, 2026

Celltrion Implements Comprehensive Measures to Enhance Shareholder Value Celltrion announced on May 21 that it will implement a series of measures, including a stock split, share buybacks, and the acquisition of shares by its largest shareholder, to enhance shareholder value and reassess corporate value. This comprehensive response plan follows the company's review of strategies to improve shareholder value in light of recent market changes, as disclosed on its website on May 19. The measures aim to bolster both corporate and shareholder value. For the secon May 21, 2026

Economic Growth Forecast Rises to 2.8% Amid Semiconductor Boom Thanks to strong semiconductor exports and the government's expansionary fiscal policy, market experts have raised their economic growth forecast for this year to as high as 2.8%. However, the ongoing war in the Middle East, high oil prices, and market interest rate instability have been identified as significant variables affecting the South Korean economy. A survey conducted by Aju Economy on May 21 among eight leading bond and macroeconomic experts revealed that three of the seven r May 21, 2026

Trade Commission Proposes Up to 31.55% Anti-Dumping Duties on European PVC Paste Resin The Trade Commission of the Ministry of Trade, Industry and Energy has determined that domestic industries have suffered due to low-priced dumping exports of European polyvinyl chloride (PVC) paste resin (PSR) and has decided to recommend the imposition of anti-dumping duties of up to 31.55% to the government. During its 473rd plenary session on May 21, the Trade Commission concluded that the dumping exports of PVC paste resin from Germany, France, Norway, and Sweden have caused signifi May 21, 2026

Bank of Korea Expected to Hold Interest Rate Steady Amid Inflation Pressures As inflationary pressures rise due to the ongoing conflict in the Middle East, the Bank of Korea's Monetary Policy Committee is expected to maintain the current interest rate. Market experts predict that while the Bank will choose to hold rates steady during its monetary policy direction meeting on May 28, it will signal a shift towards rate hikes in the second half of the year to address robust growth and high inflation. A survey conducted by Aju Economy on May 21 among eight leading bon May 21, 2026

Confusion Surrounds Vehicle 5-Day Discount Program Amid Regulatory Dispute The government’s initiative for a vehicle 5-day discount program has sparked a dispute between financial authorities and the insurance industry over legal responsibilities. While the Financial Services Commission (FSC) believes there are no violations of insurance law, insurers argue that they need an official confirmation stating the program is not illegal to avoid future regulatory risks. On May 21, the FSC communicated to insurers that the vehicle 5-day discount program does not requir May 21, 2026

Park Jong-jun Acquitted in First Trial Over Deletion of Secret Phone Data Park Jong-jun, the former head of the Presidential Security Service, was acquitted in a first trial on charges of deleting information from secret phones used by key figures during the martial law period, including former President Yoon Suk Yeol. On May 21, the Seoul Central District Court's Criminal Division 32, presided over by Judge Ryu Kyung-jin, ruled in favor of Park, stating that the evidence for the charges of evidence destruction was insufficient. The court explained that the pr May 21, 2026

President Lee Advocates for Open Criticism and Advice in Government Advisory Meetings President Lee Jae-myung emphasized the importance of open criticism and advice during a meeting with the presidential advisory council on May 21. He stated, "I believe that while you should feel free to criticize and advise, it is essential to understand that the principles of an organized government must also function."The meeting, held at the Blue House, focused on the slogan "Envisioning the Future of Korea Together" and included reports on the status, achievements, and future plans of three May 21, 2026

Ministry of SMEs to Develop Five Global Startup Cities by 2030 The Ministry of SMEs and Startups is launching a project to cultivate five cities that rank among the top 100 global startup hubs by 2030. On May 21, the ministry held a "Startup City Development Project Strategy Presentation" at the Daegu Gyeongbuk Institute of Science and Technology (DGIST) Convention Hall, in collaboration with local governments, four major science and technology institutes, and regional startup support organizations. This event followed the "National Startup Era Strat May 21, 2026

Supreme Court Rules HD Hyundai Heavy Industries Not Obligated to Bargain with Subcontractor Union HD Hyundai Heavy Industries has been confirmed by the Supreme Court to have no obligation to engage in collective bargaining with a subcontractor union. The court upheld existing legal principles under the labor union law prior to its amendment, which expanded the definition of employers.On May 21, the Supreme Court's full bench, led by Justice Oh Kyung-mi, upheld the lower court's ruling that dismissed a lawsuit filed by the subcontractor union of the Hyundai Heavy Industries branch of the Kore May 21, 2026