Korea's Fair Trade Commission Eliminates Cap on Whistleblower Rewards for Reporting Unfair Trade Practices The Fair Trade Commission (FTC) of South Korea has announced the elimination of the cap on rewards for whistleblowers who report unfair trade practices, including collusion. Whistleblowers will now receive up to 10% of the total fines imposed for violations.On May 21, the FTC stated that it will conduct a 20-day public notice period until June 10 for a proposed amendment to the regulations governing rewards for whistleblowers reporting violations of the Fair Trade Act.The amendment aims to encou May 21, 2026

Kakao Faces First Joint Strike Threat Amid Prolonged Labor Dispute Kakao is facing a potential strike as prolonged labor negotiations over bonuses and job security continue. The Kakao Union, part of the Korean Chemical Fiber and Food Industry Workers' Union, escalated pressure by approving a strike vote on May 20, while Kakao aims to reach a consensus during the mediation period. According to the IT industry on May 21, a total of five Kakao entities, including Kakao Corp, Kakao Pay, Kakao Entertainment, DK Tech, and XL Games, held a rally on May 20 to su May 21, 2026

Korea's Fair Trade Commission to Investigate AI Service Market On May 21, the Fair Trade Commission (FTC) announced it will conduct a survey of major domestic and international companies participating in South Korea's artificial intelligence (AI) service market. The aim is to analyze and assess the current trading practices and competitive conditions within the domestic AI service sector.The FTC noted that while the integration of AI services is driving innovation and competition in related products and services, it is also contributing to increased market May 21, 2026

GTX Samsung Station Rebar Omission Controversy: Safety or Political Attack? The controversy surrounding the omission of rebar in the GTX-A complex transfer center near Samsung Station in Gangnam, Seoul, has emerged as a critical safety issue in the lead-up to the June 3 mayoral election. Jung Won-o, the Democratic Party's candidate for mayor of Seoul, criticized the administration of Oh Se-hoon, stating it symbolizes poor construction practices and a lack of safety awareness in the city. In response, Oh Se-hoon, the People Power Party's candidate, and the Seoul May 21, 2026

Samsung Electronics and Union Reach Tentative Agreement to Avert Strike Samsung Electronics and its labor union have reached a tentative agreement after four rounds of marathon negotiations, successfully averting a strike. According to industry sources on May 21, the two sides finalized the "2026 Wage and Performance Bonus Tentative Agreement" at 10:30 p.m. the previous day, deciding to postpone the union's planned strike. The core of this agreement addresses the contentious issue of institutionalizing performance bonuses through a strategy of "stock paymen May 21, 2026

Samsung Avoids Strike Crisis, But Vote Looms as Deadline Approaches Samsung Electronics has temporarily averted a major crisis as a strike loomed. Just over an hour before a planned strike on May 21, the company and its labor union reached a tentative agreement. However, concerns remain as a final vote by union members is still pending.The Samsung Electronics union's joint action committee announced around 10:30 p.m. on May 20 that the planned strike from May 21 to June 7 would be postponed until further notice.With the strike averted at the last moment, the uni May 21, 2026

NVIDIA Sales Fund Samsung Electronics as RIA Sees 1.9 Trillion Won Inflow The trend of overseas investment funds returning to the domestic stock market is gaining momentum. Since the introduction of the Domestic Market Return Account (RIA) on March 23, approximately 2 trillion won has flowed in within less than two months. Notably, funds have shifted towards domestic semiconductor stocks like Samsung Electronics and SK Hynix, as well as domestic exchange-traded funds (ETFs). On May 21, the Financial Investment Association reported that as of May 19, the cumulat May 21, 2026

Increased Consumer Spending at Large Supermarkets on Weekends Calls for Policies Linking Traditional Markets A recent study by the Korea Development Institute (KDI) indicates that the controversial shift of mandatory closing days for large supermarkets to weekdays has positively influenced consumer sentiment and has not adversely affected sales at traditional markets. On May 21, KDI released a report titled "The Direction of Retail Policy Suggested by the Transition of Mandatory Closing Days to Weekdays." The institute compiled data on the adjustment of mandatory closing days across local governm May 21, 2026

Implementation of AI Basic Law to Facilitate Public AI Adoption and Research The Ministry of Science and ICT (MSIT) is preparing to implement the revised "Basic Law on the Advancement of Artificial Intelligence and the Establishment of Trust" (AI Basic Law) in July, focusing on refining subordinate regulations. The aim is to strengthen the institutional foundation for fostering the AI industry by expanding the adoption of AI in the public sector, supporting vulnerable groups, and establishing AI research institutes. On May 21, the MSIT announced that it has prepa May 21, 2026

Surge in Semiconductor Exports Leads to Increased Concentration Among Top Companies The ongoing boom in semiconductor exports is intensifying the concentration of exports among a few large companies in South Korea. In the first quarter of this year, the trade concentration of the top 10 exporting companies surpassed 50% for the first time, reaching a record high. According to the "Q1 2026 and Annual Company Characteristics Trade Statistics" released on May 10 by the National Data Agency and the Korea Customs Service, the trade concentration of the top 10 exporting comp May 21, 2026