127 Individuals Under Investigation for Real Estate Tax Evasion in South Korea The National Tax Service (NTS) has launched an investigation into 127 individuals suspected of real estate tax evasion, including those who purchased high-priced apartments with cash to circumvent loan regulations or utilized parental funds in what is referred to as "parental advantage" transactions. The scope of the investigation has expanded beyond the Gangnam area to include regions in Gyeonggi Province that have recently experienced significant price increases, aiming to curb disruption May 19, 2026

Buhyung Group Conducts Safety Inspections at 17 Sites Nationwide Buhyung Group has initiated comprehensive safety inspections across its operations to prepare for natural disasters during the summer and to prevent serious accidents. The company announced on May 19 that from May 14 to May 21, it will assess compliance with safety and health obligations at 17 sites nationwide. This initiative aims to proactively prevent safety incidents related to summer heat and heavy rainfall. The inspections will cover Buhyung Group's buildings and leisure facilities across May 19, 2026

Huons Merges with Huons Lab to Enhance Bio R&D and Seek Price Benefits Huons is significantly enhancing its research and development capabilities in biopharmaceuticals by merging with its subsidiary, Huons Lab. This strategic move is seen as a way to secure benefits from government pricing incentives for innovative pharmaceutical companies. Market analysts suggest that this merger may also lay the groundwork for future succession planning.On May 18, Huons held a board meeting where it approved the merger agreement to absorb Huons Lab, which operates under Huons Gl May 19, 2026

Kim Yong-nam Apologizes for Assault and Verbal Abuse Controversy Kim Yong-nam, the Democratic Party candidate for the Pyeongtaek re-election, issued an apology on May 19 in response to allegations of assault against his aides. He expressed deep regret, stating, "I sincerely reflect on my past immaturity and mistakes." He emphasized that the situation was entirely his fault and pledged to approach the citizens of Pyeongtaek with humility as he continues his campaign. In a statement, Kim said, "Regardless of the circumstances, I bow my head in sincere ap May 19, 2026

People Power Party to Oppose Special Prosecutor Law on Election Manipulation People Power Party officials announced on May 19 that they will work to block the ruling party's proposed special prosecutor law aimed at canceling the indictment of President Lee Jae-myung, which they claim was temporarily halted ahead of local elections but will be pursued immediately afterward. They also criticized the Supreme Prosecutors' Office for seeking severe disciplinary action against Prosecutor Park Sang-yong.Joo Jin-woo, chairman of the special committee to oppose the indictment can May 19, 2026

Ruling Party Condemns Starbucks' 'Tank Day' Marketing as a Social Crime Against Human Rights The Democratic Party of Korea has condemned Starbucks Korea's 'Tank Day' marketing campaign, launched on the 46th anniversary of the May 18 Gwangju Democratization Movement, calling it a "social crime that tramples on human rights and democracy."During a party meeting on May 19, Han Byeong-do, the party's floor leader, stated, "Yesterday, Starbucks unveiled a truly bizarre event," adding, "Before the atmosphere of mourning could settle, they drove another nail into the hearts of Gwangju citizens May 19, 2026

Deputy Minister Heo Jang Calls for Strengthening Corporate Cooperation through Supply Chain Financing Program 허장 재정경제부 2차관은 19일 "공급망안정화기금의 상생금융 프로그램으로 기업 간 안정적 협력관계를 다져 위기 대응 능력을 강화해야 한다"고 말했다. Heo Jang, Deputy Minister of the Ministry of Economy and Finance, stated on May 19 that the Supply Chain Stabilization Fund's cooperative financing program should be utilized to strengthen stable partnerships among companies and enhance their crisis response capabilities. During a signing ceremony for the Supply Chain Stabilization Fund's cooperat May 19, 2026

Why China Invited Lei Jun to Trump's State Dinner "It is extremely rare for a single company to receive such intense attention," stated Chinese state media on May 19, highlighting Xiaomi's technological innovation, international openness, and entrepreneurial spirit. The New Tanqin account, part of the state-run Xinhua News Agency, noted that this year, several foreign leaders, including Spanish Prime Minister Pedro Sánchez, Abu Dhabi Crown Prince Khalid bin Mohammed Al Nahyan, German Chancellor Friedrich Merz, Singapore's Senior Ministe May 19, 2026

Korea's Ministry of Food and Drug Safety Hosts First Annual GMP Seminar The Ministry of Food and Drug Safety (MFDS) is set to host the first annual seminar on Good Manufacturing Practices (GMP) in collaboration with the Korea Pharmaceutical and Bio-Pharma Manufacturers Association. The MFDS believes this seminar will enhance the understanding and implementation capabilities of GMP policies among manufacturing companies. On May 19, the MFDS announced that the seminar will take place at the ST Center in Gangnam, Seoul, targeting representatives from pharmaceut May 19, 2026

Samsung Electronics and Labor Union Resume Final Negotiations Ahead of Strike Samsung Electronics and its labor union began their final round of negotiations on May 19, ahead of a planned general strike on May 21.The two sides met at the Central Labor Relations Commission in Sejong at 10 a.m. to resume wage negotiations for the year.Park Soo-geun, chairman of the commission, stated as he entered the meeting room, "We will see if both sides can reach an agreement. If not, we will present a mediation proposal. There is still a possibility of an agreement, so we will assess May 19, 2026