LIV Golf Begins Preparations for Bankruptcy Amid Financial Crisis LIV Golf has reportedly begun preparations for a bankruptcy filing in the United States following Saudi Arabia's decision to withdraw its financial support. On May 20, major international news outlets including Bloomberg and Reuters reported that "LIV Golf is exploring various options, including seeking new investors, but is preparing for the possibility of the tour collapsing by the end of the season in August." Bloomberg also noted that LIV Golf is considering relocating its headquarter May 21, 2026

Election Campaigns Kick Off for Local Elections in South Korea The Democratic Party and the People Power Party launched their official election campaigns on May 21, kicking off active canvassing efforts. Jung Cheong-rae, the Democratic Party leader, focused on supporting Jeong Won-oh, the party's candidate for the Seoul mayoral election, while Jang Dong-hyuk targeted Yang Hyang-ja, who is vying to reclaim the Gyeonggi governor's office. Jung began his support for Jeong at the Dong Seoul Postal Center, where he emphasized delivering a new vision for S May 21, 2026

Blue House Thanks Samsung Electronics for Labor Agreement Decision On May 20, the Blue House expressed gratitude for the labor-management agreement reached just before a planned strike at Samsung Electronics, stating, "We appreciate the labor and management's grand decision for the nation and the people."In a press release that evening, the Blue House commented on the Samsung labor union's decision to postpone the strike.The statement added, "This is the result of the efforts of government officials, including Minister of Labor Kim Young-hoon, who worked tirele May 20, 2026

Korean Business Group Welcomes Samsung Electronics Labor Agreement The Korean Employers Federation (KEF) expressed relief on May 20 after Samsung Electronics and its labor union reached a tentative agreement on performance bonuses. The KEF stated, "It is fortunate that an agreement was reached, avoiding the worst-case scenario of a strike." In a statement released around 11 p.m., the KEF noted that the agreement is significant as it reflects both parties stepping back to find common ground amid a challenging business environment characterized by intensif May 20, 2026

Samsung Electronics Avoids Major Strike as Union Votes on Tentative Agreement Samsung Electronics and its labor union reached a tentative agreement just hours before a planned strike. Labor Minister Kim Young-hoon intervened in the negotiations, which lasted six hours at the Gyeonggi Employment and Labor Agency, leading to the agreement. On May 20, the union's joint action headquarters announced that the planned strike from May 21 to June 7 would be postponed until further notice. All members are expected to participate in a vote on the tentative wage agreement from May 20, 2026

Samsung and Labor Union Agree on 10-Year Bonus System Tied to Stock Samsung Electronics and its labor union have confirmed that their tentative wage and collective bargaining agreement, reached just before a general strike, includes a 10-year validity period for the bonus system. This agreement not only establishes the method for calculating bonuses but also formalizes the payment method and duration, setting the framework for Samsung's performance compensation system for the next decade. According to industry sources on May 20, Samsung and the union sign May 20, 2026

Samsung Electronics Reaches Tentative Agreement Amid Strike Threat Samsung Electronics and its labor union have reached a tentative agreement on wages and collective bargaining. This development comes amid discussions of a potential first-ever total strike, alleviating concerns over semiconductor production disruptions and uncertainty in the industry. On May 20, Samsung Electronics issued a statement confirming the tentative agreement, stating, "The agreement was reached thanks to the support of the public, shareholders, and customers, as well as the ded May 20, 2026

Samsung Avoids Major Strike, Easing Semiconductor Production Concerns Samsung Electronics' labor union has postponed a planned strike just over an hour before it was set to begin. The potential for the company's first-ever total strike has been averted for now, easing concerns in the industry about disruptions to semiconductor production and the global supply chain. According to industry sources on May 20, the Samsung Electronics union's joint action committee announced in a directive to members that "the total strike scheduled for May 21 to June 7 is postp May 20, 2026

Special Prosecutor to Investigate Yoon Suk Yeol for Military Coup Charges on June 6 Special Prosecutor to Summon Yoon Suk Yeol for Military Coup Investigation The second special prosecutor team, led by Kwon Chang-young, will investigate former President Yoon Suk Yeol for charges related to a military coup. On May 20, the special prosecutor's office announced that it plans to summon Yoon on June 6 as a suspect in the coup investigation. Yoon has expressed his willingness to cooperate with the investigation. Yoon is accused of conspiring with former Defense Minister K May 20, 2026

Government Launches $340 Million Financial Support for R&D Commercialization A large-scale financial support program aimed at assisting public research institutions and small and medium enterprises (SMEs) in commercializing technology is set to be implemented. The Ministry of SMEs and Startups announced that an amendment to the Small and Medium Enterprises Technology Innovation Act was approved by the Cabinet on May 20 and will take effect immediately. Historically, SMEs have faced challenges in securing funding to commercialize results from R&D or promising te May 20, 2026