Jung Won-oh Promises 87,000 Housing Units by Next Year Amid Housing Crisis Jung Won-oh, the Democratic Party's candidate for Seoul mayor, unveiled a comprehensive housing stability plan targeting youth and newlyweds on May 18, directly addressing the city's housing challenges. The key components of the plan include expanding rent support for young people, providing tailored public housing for newlyweds, increasing the supply of rental housing for youth, and committing to the early construction of 87,000 housing units by 2027. At a press conference in front o May 18, 2026

President Lee Promises Constitutional Inclusion of May 18 Spirit and New Registration System President Lee Jae-myung pledged on May 18 to include the spirit of the May 18 Democratic Movement in the Constitution and to establish a new registration system to address the gaps for democratic heroes. He reiterated the government's unwavering responsibility towards victims of state violence.President Lee made these key policy announcements during the 46th anniversary commemoration of the May 18 Democratic Movement held at the May 18 Democracy Square in front of the former Jeonnam Provincial O May 18, 2026

Seonggeumwon Eases Debt Repayment Burden for Sunshine Loan Borrowers 서민금융진흥원이 햇살론 구상채무자의 재기를 돕기 위해 분할상환 조건을 한시적으로 완화한다. Seonggeumwon announced on May 18 that it will temporarily ease the repayment conditions for borrowers of the Sunshine Loan to assist them in their recovery. The "Sunshine Loan Debtor Support Special Campaign" will run until June 26. The program targets borrowers who have been unable to repay their principal and interest on the Sunshine Loan, for whom Seonggeumwon has made payments to banks and other May 18, 2026

Differences Between Memorial Day and Constitution Day Holidays Interest is growing regarding the application of holidays surrounding Memorial Day in June and Constitution Day in July. This year, Memorial Day falls on a Saturday, but a substitute holiday will not be observed. In contrast, Constitution Day has been designated as a public holiday for the first time in 18 years, allowing for a three-day weekend from Friday, July 17, through Sunday. It is important to examine the legal nature of these two days and the applicability of substitute holidays. May 18, 2026

AstraZeneca's New Hypertension Drug Approved in the U.S., Expected to Generate $7 Billion in Annual Revenue AstraZeneca's new hypertension treatment has been approved in the United States. This combination therapy is intended for patients whose blood pressure remains uncontrolled despite taking multiple medications. It is considered a new treatment option as it targets a hormone that raises blood pressure. On May 18, The Wall Street Journal reported that AstraZeneca received approval from the U.S. Food and Drug Administration (FDA) for its hypertension drug, Baxfendy, which was previously known May 18, 2026

Daebang Construction Wins $682 Million Contract for Gwacheon Public Housing Project Daebang Construction has secured a contract for the "Gwacheon Public Housing District Development Project, Section 1."According to the construction industry on May 18, Daebang Construction submitted a bid of 68.26 billion won (approximately $682 million), which is 91.10% of the estimated price, and was selected as the top bidder in a recent comprehensive bidding process. A total of 10 construction companies participated in the bidding.The project involves land development over an area of approxi May 18, 2026

Oh Se-hoon Calls for Supply-Centric Real Estate Policy Amid Criticism Oh Se-hoon, the candidate for mayor of Seoul from the People Power Party, criticized the real estate policies of the Lee Jae-myung administration, emphasizing the need for a supply-centered approach. He dismissed allegations regarding construction errors in the GTX (Great Train Express) A line as politically motivated attacks. Speaking at a seminar on the evaluation of the Lee Jae-myung government's real estate policy and future tasks, held at the National Assembly, Oh stated, "The soluti May 18, 2026

First Unification White Paper Released by Lee Jae-myung Administration, Emphasizing Peaceful Coexistence The Lee Jae-myung administration has released its first "Unification White Paper," reflecting its commitment to peaceful coexistence on the Korean Peninsula.On May 18, the Ministry of Unification published the "2026 Unification White Paper: Records of Peaceful Coexistence on the Korean Peninsula in 2025" to help the public understand the government's overall policy efforts during the year 2025.This white paper is the first issued by the Lee Jae-myung administration and includes the subtitle "Rec May 18, 2026

Rising Jeonse Prices in Seoul's Northeast Region Amid Regulatory Challenges The jeonse market in Seoul's northeast region is becoming increasingly inaccessible. With loan regulations and the designation of land transaction permission zones closing off gap investment opportunities, the reintroduction of heavy capital gains taxes has further restricted landlords from converting to monthly rentals. This has exacerbated the shortage of jeonse listings in the area.According to the real estate big data platform 'Asil,' the total number of jeonse listings for apartments in Seo May 18, 2026

Special Prosecutors Investigate Former NIS Officials for Insurrection Charges The Special Prosecutors' Office, led by Kwon Chang-young, is investigating former National Intelligence Service (NIS) Director Cho Tae-yong and former Deputy Director Hong Jang-won, along with four other former NIS officials, on charges related to insurrection. The investigation focuses on allegations that former President Yoon Suk-yeol attempted to justify the declaration of emergency martial law through diplomatic and security channels shortly after it was imposed on December 3. During May 18, 2026