Kevin Warsh to be Sworn in as Next Fed Chair on May 22 Amid Inflation Concerns Kevin Warsh will be sworn in as the next chair of the U.S. Federal Reserve this week, beginning a four-year term. Reuters reported on May 18, citing White House officials, that Warsh is scheduled to take the oath of office on May 22, presided over by President Donald Trump. Warsh's confirmation passed the Senate on May 13 with a vote of 53 in favor and 45 against. He will chair his first Federal Open Market Committee (FOMC) meeting on June 16-17. A lawyer and financial expert, Warsh p May 19, 2026

Experts Discuss the Future of Constitutional Justice in Asia at AACC Conference in Seoul Experts in constitutional law from across Asia gathered in Seoul to strengthen the values of human rights, democracy, and the rule of law in the region. On May 19, the Asian Constitutional Courts Consortium (AACC), led by Chief Justice Kim Sang-hwan, held the opening ceremony of its 5th International Conference at the Westin Chosun Seoul, marking the beginning of a two-day official agenda. The conference featured over 50 experts, including Chief Justice Kim, Justice Kim Hyung-doo, and AA May 19, 2026

Special Prosecutors Target Military Leadership in Second Martial Law Investigation The second comprehensive special investigation team, led by Special Prosecutor Kwon Chang-young, is intensifying its probe into allegations surrounding the second martial law, targeting both the Joint Chiefs of Staff leadership and field commanders. Notably, the special prosecutors are applying charges of 'rebellion' under military law to field commanders, indicating a focus on the mobilization of armed forces rather than merely executing unlawful orders.As of the morning of May 19, the special May 19, 2026

Seoul Mayor Candidate Oh Se-hoon Promises Expanded Support for Vulnerable Groups Oh Se-hoon, the candidate for Seoul Mayor from the People Power Party, expressed his commitment to enhancing support for vulnerable populations as he met with individuals with disabilities and residents of goshiwons on May 19. On that morning, Oh worked as a daily manager at the Warm Storage, a community resource center he established during his previous term as mayor, where residents can select essential goods within a designated credit limit. Wearing a manager's vest, Oh participated May 19, 2026

Over 8 Million Apply for High Oil Price Relief Payments, Totaling 2.37 Trillion Won The South Korean government's high oil price relief payments have seen over 8 million applicants, with total disbursements exceeding 2.37 trillion won. As of midnight on May 18, the Ministry of Interior and Safety reported that a total of 8,044,281 applications have been submitted for the first and second rounds of relief payments. This represents 22.4% of the total eligible recipients, with cumulative payments amounting to 2.3743 trillion won. In the first round, 2,976,000 individuals May 19, 2026

Yoo Jae-suk Launches 'Yoo Jae-suk Camp' with Lee Kwang-soo, Byun Woo-seok, and Ji Yeo-eun Yoo Jae-suk is set to meet viewers through a new variety show named after him. Unlike typical lodging shows, this program will feature a three-day, two-night camp experience filled with morning missions, quizzes, campfires, and talent shows. Attention is focused on the laughter that will emerge from this large-scale Netflix camp variety show, which includes Yoo Jae-suk, Lee Kwang-soo, Byun Woo-seok, and Ji Yeo-eun as staff members.On the morning of May 19, a production presentation for the new N May 19, 2026

Oh Se-hoon Denies Cover-Up in Missing Rebar Incident Related to GTX-A Line Oh Se-hoon, the People Power Party candidate for Seoul mayor, reiterated on May 19 that he has not concealed any information regarding the missing rebar issue in the Samsung Station section of the GTX-A line. Speaking to reporters after a policy meeting with disability organizations at the Daewang Building in Gwancheol-dong, Oh stated, "I learned about this issue from the news three or four days ago, and there was no prior report to me," dismissing allegations of concealment raised by h May 19, 2026

South Korea Allocates $10 Million to Support Jobs Amid Middle East Conflict The South Korean government is stepping up job support in regions expected to be affected by the ongoing conflict in the Middle East. On May 19, the Ministry of Employment and Labor announced plans to expand the Regional Industry Customized Job Project, also known as the “Buttress Project,” targeting eight cities and provinces where industries are concentrated and likely to suffer from the conflict's impact. Concerns have arisen over rising oil prices and a slowdown in domestic demand d May 19, 2026

Household Debt Reaches Record High of 1,993 Trillion Won Amid Rising Non-Bank Loans Household debt in South Korea has reached a new all-time high, despite stringent government lending regulations. The increase in non-bank mortgage loans and a significant rise in investment borrowing, driven by a booming stock market, have contributed to this trend. According to the Bank of Korea's preliminary statistics on household credit for the first quarter of 2026, the total household credit balance stood at 1,993.1 trillion won at the end of March. This marks an increase of 14 tril May 19, 2026

Korea's Fair Trade Commission Targets 'False Discounts' by Major Online Retailers South Korea's Fair Trade Commission (FTC) has urged major online shopping platforms to clearly differentiate between regular prices, sale prices, and maximum discounts that apply under specific conditions to eliminate so-called "false discounts."On May 19, the FTC announced its findings after investigating 1,335 products from four major online retailers—Coupang, Naver, Gmarket, and 11st—during the recent Lunar New Year holiday. The investigation revealed instances where retailers inflated price May 19, 2026