Intense Final Campaign Battle Between Candidates for Seoul Mayor As the June 3 Seoul mayoral election approaches, a fierce exchange of negative campaigning is intensifying between Jung Won-oh of the Democratic Party and Oh Se-hoon of the People Power Party. With polls showing a tight race, both candidates and their parties are ramping up efforts to sway voters in the final days of the campaign. Lee In-young, the head of Jung's campaign committee, held a press conference on May 31 and asserted, "Oh is not free from severe criticism regarding negligence in safety over the past decade, including the Itaewon tragedy and the Seosomun overpass collapse." Kang Jun-hyun, the Democratic Party's chief spokesperson, pointed out Oh's recent remark during a televised debate, where he questioned, "What good does it do for me to go to Samseong Station right now?" Kang interpreted this as an admission of failure in managing safety for Seoul citizens and a blatant declaration of evading responsibility. In response, the opposition has focused on Jung's moral integrity. Jang Dong-hyuk, the People Power Party leader, held a press conference that day, accusing Jung of being a candidate unfit for office due to his association with President Lee Jae-myung and the passage of harmful legislation. Jang further criticized the president for hosting a fish party at Jagalchi Market on the day of the Seosomun overpass collapse, claiming that the president later directed a raid on Seoul City Hall. He also stated, "Jung failed to explain any policies during the TV debate, showing his lack of competence." The level of criticism between the candidates has escalated. Oh Se-hoon labeled Jung as a "puppet of the president" during a press conference at his campaign office, arguing that Jung would not challenge any misguided policies from the president. He emphasized, "What Seoul needs now is not a puppet but a guardian of citizens' rights." In turn, Jung accused Oh of being silent during President Yoon Suk-yeol's oppressive governance, stating, "Claiming he will express his opinions in front of President Lee is nothing short of a declaration of political conflict." The number of legal complaints related to the mayoral election has also surged into double digits. As of May 30, there have been 13 reported cases of complaints and legal actions. Of these, 10 were filed by Jung's campaign and the Democratic Party. Jung's team accused Oh's campaign of manipulating public opinion and filed complaints for obstruction of business and violations of election laws. Oh's camp has denied these allegations. Mutual accusations regarding past violence allegations against Jung have also emerged. The Democratic Party filed complaints against People Power Party lawmakers Joo Jin-woo and Kim Jae-seop for violations of election laws, while the People Power Party countered with accusations of false reporting against Democratic lawmakers Seo Young-kyo and Lee Joo-hee. The escalating conflict in the Seoul mayoral race is attributed to the close competition between the two candidates, with recent polls indicating they are neck-and-neck or tied within the margin of error. 2026-05-31 15:33:00

Shift from Bags to Jewelry: Department Stores Focus on Luxury Demand Luxury consumption is rapidly shifting from handbags to high-end jewelry and watches. In the first quarter of this year, sales of jewelry and watches at Lotte, Shinsegae, and Hyundai department stores surged by nearly 50% compared to the same period last year, outpacing overall luxury sales growth. This trend is attributed to rising marriage rates, stock market gains, and substantial bonuses from semiconductor companies. According to the department store industry, Shinsegae's overall luxury sales increased by 29.8% in the first quarter compared to the previous year. Jewelry sales rose by 55.6%, and watch sales increased by 36.9%, significantly exceeding the overall luxury growth rate. Similarly, Lotte Department Store reported a 30% increase in total luxury sales, with luxury jewelry and watches soaring by 55%. Hyundai Department Store also saw a 30% growth in overall luxury sales, with jewelry and watch sales up by 50.2%. In contrast, the overall sales growth for the three department stores ranged from 7% to 12%, highlighting the remarkable performance of jewelry and watches. A key factor behind this surge is the increase in marriage rates. According to the National Data Agency, there were 62,309 marriages in the first quarter, an increase of 3,609 (6.1%) from the previous year. This marks the highest number of marriages for the first quarter since 2018. An industry insider noted, "Recently, there has been a clear trend of couples investing more in jewelry and watches while cutting back on wedding expenses. The increase in marriages and this trend have contributed to the rising demand for engagement gifts." Additionally, record bonuses from semiconductor companies like Samsung Electronics and SK Hynix have also played a role. The impact has been particularly pronounced in department stores located in the southern Gyeonggi province, where these companies are based. For instance, Shinsegae's South City (Yongin) saw jewelry sales soar by 146.3% and watch sales by 85.3% from January 1 to 20 compared to the previous year. Hyundai Department Store's Pangyo branch also reported a 43% increase in luxury sales during the same period, with jewelry and watches up by 68.8% and premium clothing by 37.5%. In response to this trend, department stores are actively curating distinctive brands to capture demand. Shinsegae is showcasing the British high jewelry brand Jessica McCormack in a pop-up store on the first floor of its Cheongdam location until June 26, marking the brand's first appearance in Asia. This pop-up follows its debut at Harrods in the UK, making it the second location worldwide. Lotte Department Store has opened a store featuring 'Chloisoo,' established by renowned Korean cloisonné artist Lee Soo-kyung, on the third floor of its Avenue L branch. The artist's work includes a traditional ornament gifted by President Yoon Suk Yeol and First Lady Kim Hye-kyung to Chinese President Xi Jinping and his wife during the Korea-China summit in January. The store showcases over 30 art pieces and cloisonné jewelry, including the representative work 'Fantasia,' valued at 300 million won.* This article has been translated by AI. 2026-05-31 15:24:00

LG Household & Health Care Launches Dr. Groot Hair Tower in Key U.S. Sephora Stores LG Household & Health Care announced on May 31 that it will launch its scalp care brand, Dr. Groot, in major offline stores of the global beauty retailer Sephora in North America. Dr. Groot has recently installed special displays called 'Hair Towers' in over 90 key Sephora locations across the U.S., showcasing its flagship SRS product line. With an official launch planned for August in more than 400 stores nationwide, Dr. Groot aims to assess market reactions and sales data to establish a solid foundation for its offline debut. The brand plans to enhance customer engagement by introducing scalp care routines using its flagship products. Notably, Dr. Groot will feature eight key products, including SRS line shampoos, conditioners, and roll-on serums, in stores located in major urban areas, allowing customers to experience the scents and textures firsthand. In conjunction with its offline expansion, the brand is accelerating its marketing efforts. It is increasing collaborations with local creators on major North American social media platforms like TikTok and Instagram, and is also implementing training programs for Sephora staff to educate them about K-beauty trends and product benefits. An LG Household & Health Care representative stated, "We aim to successfully lead up to the official launch in August and solidify our position as a K-hair care brand." Meanwhile, according to the Korea Customs Service's trade statistics, the export value of domestic hair care products reached $135.72 million (approximately 204.5 billion won) in the first quarter of this year, marking the highest quarterly figure to date. This represents a 34.2% increase compared to the same period last year, which saw exports of $101.17 million. The export volume for the first quarter was 17,252 tons, up 45.2% from 11,881 tons in the previous year. * This article has been translated by AI. 2026-05-31 15:24:00

Election Fallout: Song Young-gil's Comments Spark Debate Among Candidates Song Young-gil's assertion that independent candidate Kim Kwan-young is "also a person chosen by President Lee Jae-myung" has ignited controversy, leading to a heated exchange between Lee Won-taek, the Democratic Party's candidate for Jeonbuk governor, and Kim. On May 31, Lee's campaign team criticized Song, stating, "By praising Kim, who was permanently expelled from the party over allegations of illegal cash distribution, as 'a Democratic Party person' and 'a person chosen by the president,' he is undermining the party's official decision and deceiving voters." They further claimed, "Kim's campaign is immediately exploiting Song's comments for election promotion, spreading the narrative that he is 'also a Democratic Party person.' It is a clear distortion of facts and an attempt to obscure the truth that a candidate expelled from the party is masquerading as a Democratic Party member." In response, Kim's camp defended Song's statement, asserting, "It is a clear truth that Kim is a person chosen by the president." They emphasized that President Lee Jae-myung had welcomed Kim into the party on December 10, 2021, stating, "I believe he is a great asset, and it seems the first step toward a grand unification is opening up." Additionally, they criticized the Lee camp for attacking a former party leader who has represented the people's sentiments, urging, "Show proper respect to Song, who is campaigning in a competitive district in Incheon." Meanwhile, in a recent interview with the YouTube channel 'Speaks,' Song stated, "It is contradictory for the Democratic Party to exclude Kim while concentrating its efforts in Jeonbuk. Since Kim is also a person chosen by the president, we should leave it to the people's judgment."* This article has been translated by AI. 2026-05-31 15:24:00

Yoon Suk Yeol Faces Eight Trials Simultaneously; Life Sentence for Rebellion, Acquitted of Perjury Yoon Suk Yeol, who is currently serving a life sentence for leading a rebellion following the declaration of martial law on December 3, was recently acquitted of perjury charges in a separate trial. He is facing a total of eight trials, with a verdict expected next month in a case involving the receipt of polling data without charge. According to legal sources on May 31, the Seoul Central District Court's Criminal Division 32, presided over by Judge Ryu Kyung-jin, acquitted Yoon of perjury on May 28. This marks the third first-instance verdict among the eight trials he is currently undergoing, and it is the first acquittal. Previously, the special prosecutor's team for the rebellion case had sought a two-year prison sentence for Yoon. Yoon was charged with providing false testimony during a trial involving former Prime Minister Han Duck-soo, where he appeared as a witness. He was accused of falsely claiming that he had planned a Cabinet meeting before Han's recommendation on the day martial law was declared. At the time, Yoon stated, "Cabinet members are not puppets just to maintain appearances; isn’t this question too reflective of a subjective opinion?" The special prosecutor's team deemed this statement to be perjury. However, the court ruled that Yoon's testimony about attempting to convene a legally constituted Cabinet meeting was merely a subjective evaluation and did not contradict the facts. Currently, there are four cases related to the rebellion, including the perjury charge. The main rebellion trial resulted in a life sentence in February, and an appeal is currently underway at the Seoul High Court's Criminal Division 12-1, led by Judge Lee Seung-cheol. However, this trial has been suspended due to a request from Yoon's legal team to disqualify the judges. Following the rejection of this request, Yoon's team has filed a further appeal. It appears that the trial will not resume until the Supreme Court issues a final decision. In a separate case involving the obstruction of an arrest warrant execution, the sentence has been increased from five to seven years. On April 29, the Seoul High Court's Criminal Division 1, presided over by Judge Yoon Seong-sik, imposed a heavier sentence than the initial five-year term. This case has been assigned to the Supreme Court's Division 3, and a definitive ruling is expected by July 29, which is the deadline for sentencing under the rebellion special prosecution law. Yoon has also been indicted in a separate investigation led by the Kim Geon-hee special prosecutor's team for allegedly receiving polling data without charge from political broker Myung-tae Kyun. The first-instance verdict for this case is set for June 23, with the special prosecutor seeking a four-year prison sentence. Additionally, a case involving violations of the Public Official Election Act for disseminating false information during the 20th presidential election is scheduled for a verdict on July 10. If a fine of over 1 million won is imposed, the People Power Party will be required to return approximately 40 billion won in election expenses, which could have significant political repercussions. The trial concerning allegations of investigative pressure and aiding a fugitive, initiated by the Marine Corps special prosecutor's team, is also progressing. During a hearing on May 27, key witness Lim Gi-hoon, former presidential secretary for defense, testified that the so-called 'VIP anger' indeed existed, suggesting a potentially unfavorable outcome for Yoon in future proceedings. The trial regarding allegations of instructing the deployment of drones to Pyongyang to justify the declaration of martial law is set for a first-instance verdict on June 12, with the special prosecutor seeking a severe sentence of 30 years. Another case involves the alleged aiding of a fugitive by appointing former Defense Minister Lee Jong-seop as ambassador to Australia to evade investigation, which is currently being heard in the Seoul Central District Court's Criminal Division 22, presided over by Judge Jo Hyung-woo. 2026-05-31 15:21:00

South Korea Expands Top-Tier Visa Program to Attract Global Science Talent The South Korean government is set to expand its Top-Tier visa program, offering significant incentives to attract world-class science and technology talent. The program will now include professors and researchers in the science and technology fields, aiming to secure 2,000 outstanding foreign professionals by 2030. On May 31, the Ministry of Justice and the Ministry of Science and ICT announced that the new "science and technology Top-Tier visa" system will be implemented starting in June. This improvement is designed to streamline the process by closely linking talent recommendations from the Ministry of Science and ICT with visa evaluations by the Ministry of Justice, significantly lowering barriers for skilled professionals to enter the country. The Ministry of Science and ICT is pursuing a "Brain to Korea" strategy, which aims to attract a total of 2,000 foreign scientists, including 350 top-tier scholars, by 2030. To facilitate this, a "one-stop electronic system" will be launched to ensure that visa issuance can be completed within two weeks when universities, research institutes, or corporate labs seek to recruit foreign experts. The criteria for obtaining a Top-Tier visa focus on demonstrating global research excellence. Applicants must meet at least one of the following requirements: be a recipient of an internationally recognized award such as the Nobel Prize or Fields Medal, be an author of papers in the top 1% of citations, hold triadic patents (registered simultaneously in the U.S., Japan, and Europe), or have experience as an assistant professor at a top 100 global university or as a lead researcher at one of the world's top 500 companies. Even if applicants do not fully meet the quantitative criteria, promising researchers with significant potential can still be recommended through a qualitative assessment by a joint review committee from both ministries. Selected Top-Tier visa holders will receive exceptional benefits for themselves and their families. Upon application, they will be granted a residency visa (F-2) that allows for immediate employment and settlement, along with a preferential entry card. Notably, the residency period required for obtaining permanent residency (F-5) will be significantly reduced from five years to three years. Accompanying family members, including parents and domestic helpers, will also be allowed to stay, enhancing stability for their settlement. The program will not only provide visas but also comprehensive support services from entry to daily life. Upon arrival at the airport, new arrivals will receive protocol services, and dedicated consultants will assist with foreign registration, communication service setup, real estate contracts, and psychological counseling to minimize initial settlement challenges. Justice Minister Jeong Seung-ho expressed optimism, stating, "This system improvement will strengthen the foundation for the swift influx of outstanding foreign science and technology talent into domestic research environments." Deputy Minister of Science and ICT Bae Kyung-ho also emphasized the importance of inter-ministerial cooperation, noting that not only research opportunities but also living conditions and visa support systems must work seamlessly to encourage individuals to choose Korea. This initiative is expected to enhance the global research capabilities of domestic institutions and lay the groundwork for South Korea to become a leading nation in attracting scientific and technological talent.* This article has been translated by AI. 2026-05-31 15:18:00

Police Investigate Decision-Making Before Seoul Overpass Collapse Police investigating the Seosomun overpass collapse in Seoul are examining the decision-making processes of construction officials before and after the incident. According to Yonhap News on May 31, the Seoul Metropolitan Police Agency's dedicated investigation team is analyzing evidence collected from the construction firm Heung-Hwa Construction and the city's Urban Infrastructure Headquarters. The police conducted searches at seven locations, including the Urban Infrastructure Headquarters, the construction company, and the supervising firm on May 29. The investigation team is reviewing safety management plans, structural designs, and work directives to determine how the demolition was originally planned. They are also assessing whether safety management plans were properly established during the design and construction phases and if the demolition work was executed as planned. Police are also looking into the communication that occurred among personnel on-site, the construction company, the city government, and the Ministry of Land, Infrastructure and Transport before and after the collapse. Notably, about 12 hours before the incident, signs of potential collapse were observed, including a step difference in the structure. Investigators are focusing on who made decisions at that time and whether necessary actions were taken. Concerns about safety had been raised prior to the incident. The Korea Safety Management Agency had advised the city in June 2024 to establish reinforcement plans, including temporary supports, and to review safety based on the demolition sequence, but these recommendations were not reflected in the safety plan, according to Yonhap News. Similar issues were raised again in October of the previous year, but the construction firm did not implement adequate measures, and the demolition proceeded with the city's approval. Additionally, it has been claimed that Heung-Hwa Construction and the city failed to notify the Korea Rail Network Authority or Korea Railroad Corporation about the discovered step difference, and train operations continued until one minute before the collapse. In fact, 59 trains carrying passengers passed through the tracks below the collapse site before the incident. The Ministry of Land, Infrastructure and Transport has also begun investigating the cause of the accident. The ministry announced it would form a construction accident investigation committee to examine the cause and develop measures to enhance safety management for demolition and dismantling work. This incident has evolved beyond a simple workplace accident, intertwining issues of design, safety management, on-site judgment, and inter-agency reporting systems. Police plan to summon officials from the construction company and the city for questioning once the analysis of the evidence is complete.* This article has been translated by AI. 2026-05-31 15:03:00

Foreign Investors Shift Funds from Semiconductors to AI and Bio, Achieving Record Net Purchases in KOSDAQ Foreign investors have engaged in significant net selling in the KOSPI while achieving record net buying in the KOSDAQ. They have shifted their funds from large-cap semiconductor stocks to growth sectors such as AI and biotechnology. According to the Korea Exchange on May 31, foreign investors sold a net 44.46 trillion won ($39.5 billion) in the KOSPI market in May, marking the largest monthly outflow on record, surpassing the previous high of 35.75 trillion won set in March. The selling trend persisted throughout the month, with foreign investors recording net sales for 16 consecutive trading days from May 7 to 29, the longest streak since the global financial crisis in 2009. The sell-off was concentrated in large-cap semiconductor stocks. Foreign investors sold a net 20.72 trillion won in SK Hynix and 16.07 trillion won in Samsung Electronics. Other notable sell-offs included Hyundai Mobis at 2.59 trillion won and SK Square at 1.42 trillion won. The combined net selling of SK Hynix and Samsung Electronics reached 36.74 trillion won, accounting for approximately 82% of the total net selling in the KOSPI. The funds withdrawn from semiconductor stocks were redirected to the KOSDAQ market, where foreign investors recorded a net purchase of 2.84 trillion won, the highest on record. This trend contrasts sharply with the KOSPI, highlighting a strong buying interest in growth stocks. In the KOSDAQ, investments flowed into companies involved in AI infrastructure, semiconductor value chains, biotechnology, and secondary batteries. Analysts suggest that foreign buying is particularly focused on companies expected to benefit from the expansion of the AI industry. Among the top net purchases, Pado led with 437.4 billion won, followed by EcoPro BM at 155.3 billion won, ABL Bio at 125.3 billion won, IOTech at 121.5 billion won, and Hana Micron at 120.6 billion won. These companies span various sectors, including storage devices for AI data centers, semiconductor equipment and post-processing, biotechnology, and secondary batteries, but they share the commonality of being in growth industries. Market analysts indicate that the recent changes in foreign investment reflect a shift in investment portfolios beyond mere profit-taking, suggesting a broader strategy that includes equipment, components, and biotechnology as beneficiaries of the AI industry's expansion. 2026-05-31 15:03:00

Vietnam's Parung Shipyard Expands High-Value Ship Production with South Korea Vietnam's Parung Shipyard has delivered a 13,000 DWT (deadweight tonnage) tanker and chemical ship while simultaneously commencing construction on a new vessel, continuing its trend of securing high-value ship orders. The shipyard's collaboration with South Korean owner Yentec is also expanding, strengthening its position in the international market. On May 29, local time, Vietnamese media reported that Parung delivered the 13,000 DWT tanker and chemical ship BS NGHI SON (series number 13K-YN04) to Yentec and held a steel cutting ceremony for the new vessel 13K-YN08 at the same event. This occasion highlighted Parung's consistent production system for the 13,000 DWT series. The delivered BS NGHI SON is a 13,000 DWT tanker and chemical ship designed by South Korea's Far East Ship Design (FESDEC) and certified by Korean Register (KR). The vessel measures 128.6 meters in length, 20.4 meters in width, and 11.5 meters in depth, with a design draft of 8.7 meters. This Handysize-class vessel is widely used for transporting oil and chemical products on international routes. The company stated that after completing construction, sea trials, and technical inspections, the ship met all contractual quality, safety, and technical standards before delivery to the owner. The steel cutting for the 13K-YN08 marks the first step in the new construction project, transitioning into the production phase. The simultaneous delivery of BS NGHI SON and the commencement of 13K-YN08 clearly demonstrate the uninterrupted production of the 13,000 DWT series. The vessel was received by South Korean company Yentec, which has been a key partner for Parung in various collaborations. Earlier, on April 22, Parung signed a construction contract and a memorandum of understanding (MOU) with Yentec for ten 6,500 DWT tanker and chemical ships. These vessels will feature a double-hull structure and are planned to be approximately 109.45 meters long, 18.2 meters wide, with a design draft of 6.8 meters and a cruising speed of 13.5 knots. The project will adhere to Korean Register (KR) standards and will be implemented over several years. Parung is a subsidiary of Vietnam's state-owned shipbuilding group SBIC. The company began its operations as a marine vessel repair facility, with its first new construction product being a 4,200-ton floating dock, followed by a 6,300 DWT cargo ship. It has since expanded its range to include bulk carriers from 6,500 to 20,000 DWT and 34,000 DWT vessels. With nearly 50 years of operation, the company has built a workforce of around 950 and has accumulated thousands of repair records while broadening its collaboration with foreign owners from countries such as Russia, Germany, South Korea, and Greece. Tanker and chemical ships must meet stringent standards for hazardous material transport, fire prevention, environmental protection, and operational safety. A company representative explained that the delivery of BS NGHI SON and the start of 13K-YN08 construction are results of close collaboration among the owner, partners, and in-house technical teams. Looking ahead, Parung plans to focus on new construction and repair projects, enhancing production management, process control, and quality and safety management to actively respond to the needs of domestic and international customers. The delivery of the 13,000 DWT vessel and multiple construction contracts for 6,500 DWT ships exemplify Parung's solidifying foundation in the tanker and chemical ship sector.* This article has been translated by AI. 2026-05-31 14:39:00

CJ Group Chairman Lee Jae-hyun Reviews North American Strategy, Promotes K-Lifestyle CJ Group Chairman Lee Jae-hyun has been actively overseeing the company’s North American K-lifestyle strategy by visiting key business locations in the United States. This management initiative, which began at the CJ Cup in Texas, has extended to Minnesota and California, signaling a commitment to intensify efforts in the U.S. market through a synergy of food, beauty, and content sectors. On May 31, CJ Group announced that Chairman Lee inspected the first CJ Olive Young store in Pasadena, Los Angeles, on May 29, where he discussed plans for expanding North American operations. He was accompanied by key executives, including Kim Hong-ki, CEO of CJ Corporation; Lee Sun-jung, CEO of CJ Olive Young; and Lee Sun-ho, head of the Future Planning Group at CJ Group. Lee stated, "The opening of the first Olive Young store in the U.S. is not just about launching a single store; it marks our first step into the world's largest market and a great beginning for our global expansion. We must spread a healthy and stylish lifestyle culture among American consumers." He particularly urged on-site employees to take pride in their role as a bridge to discover capable small K-brands and help them grow into global mega brands, thereby establishing a sustainable K-beauty ecosystem. The Pasadena store features products from 400 brands, with a majority being from small and medium-sized enterprises. CJ plans to establish a core market for Olive Young in California before gradually expanding into the eastern and midwestern regions. The company is also exploring ways to create synergies with its food and entertainment businesses, including Bibigo, Tous Les Jours, and KCON. ◆ Lee: "We will be the fastest-growing food company in the U.S. this year" Earlier, Lee visited CJ CheilJedang's North American subsidiary in Minneapolis, Minnesota, for the first time since acquiring the frozen food company Schwans in 2019. During this visit, he emphasized the importance of synergy across the company’s diverse sectors, stating, "CJ is a 'life company' with numerous characteristics, including food, beauty, style, and convenience. It is crucial that we work as one team to create synergy. We must aim to be the number one company in the food market based on our Only One spirit, which focuses on being the first, the best, and differentiated." After tasting the new 'Crunch Time' pizza, which cooks in just five minutes in a microwave, he remarked, "I want to offer customers a product that is cheaper, more convenient, and of better quality than delivery pizza, allowing them to save real money. This is the direction we need to pursue." He expressed confidence, stating, "By the end of this year, I am certain that we will be the fastest-growing company among U.S. food businesses." Lee also drew attention with gifts he presented at both locations. He gave Olive Young face masks and sunscreen to employees in Minnesota and a Tous Les Jours cake to staff at the LA Olive Young store. He emphasized, "CJ is not just a cosmetics company; we also sell food. We are a lifestyle company that showcases trendy lifestyles to our customers." Additionally, Lee reviewed expansion plans for CJ Foodville, CJ ENM, and CJ Logistics in North America. He is expected to remain in the U.S. until early next month to assess the competitiveness of future content businesses, such as ScreenX and 4DX, and to discuss global collaboration opportunities with industry stakeholders in the content and media sectors. * This article has been translated by AI. 2026-05-31 14:33:00