Hugel Accelerates North American Expansion with Olive Young's U.S. Launch Hugel is accelerating its North American strategy by launching its cosmetic brand, Wellage, in Olive Young's U.S. stores. Pharmaceutical companies are diversifying their growth engines by expanding core medical technologies like fillers and Botox into the dermacosmetic market.On June 1, Hugel announced that Wellage completed its entry into the Olive Young store in Pasadena, California, on May 29, marking its first physical presence in the U.S.The Olive Young U.S. locations will feature nine core products from the Wellage brand, which are formulated with high concentrations of active ingredients. The lineup includes the flagship product, the 'Real Hyaluronic Blue 100 Ampoule,' along with six products from the Real Hyaluronic line, two from the Cica Calming line, and one from the PDRN line.Wellage is now present in 12 countries, having established a foothold in U.S. offline retail following its presence on Amazon and in Costco Canada. A Hugel representative stated, "The entry into Olive Young in the U.S. is significant as it expands our offline distribution network to the U.S. mainland, following Costco Canada, thereby increasing our engagement with North American consumers. We aim to rapidly enhance brand recognition and consumer connections in the global market based on Wellage's unique clinical technology."The rapid pace at which pharmaceutical companies are entering the cosmetics sector is driven by the explosive growth of the dermacosmetic market. According to Euromonitor, while the domestic skincare market grew at an average annual rate of 2.1% from 2020 to 2025, the dermacosmetic market expanded at an average annual rate of 15.7%, outpacing general cosmetics by seven times.A similar trend is observed globally. The global dermacosmetic market surpassed $74.14 billion last year and is projected to grow at an average annual rate of over 10.3% until 2035.* This article has been translated by AI. 2026-06-01 15:12:00

SK hynix reports no production disruption after minor spark at Cheongju plant SEOUL, June 01 (AJP) - SK Hynix confirms no production disruption after minor pipe spark at Cheongju plant SK Hynix reported zero disruptions to semiconductor production following a minor spark at its Cheongju plant in South Korea, despite the incident triggering the evacuation of 3,600 employees. The company stated that no major injuries occurred during the maintenance work and manufacturing operations remain fully intact. The incident began at 10:32 a.m. on the 1st in a sixth-floor gas room connecting the M15 and M15X facilities at the Cheongju 4 campus. A slight spark during pipe maintenance caused a fire and a toxic hydrogen fluoride gas leak, which reached a concentration of 5 ppm. Sprinklers immediately activated and extinguished the fire. Ten employees were working at the scene when the incident occurred. Five workers experienced stinging eyes, while two others showed no symptoms. All seven individuals were transported to an affiliated in-house hospital for precautionary medical checkups due to their proximity to the leak. Immediately after the gas was detected, SK Hynix evacuated all personnel from the two factory buildings. "We are operating environmental purification equipment to carry out disaster prevention work," an SK Hynix official said. Employees will return to work once air quality measurements and safety inspections are complete. The company emphasized that the root cause was a minor pipe spark and that all medical evaluations were strictly preventative. "There is no major impact, factory disruption, or production volume issue," the official said. 2026-06-01 15:11:26

Foreign Investors Increase Bets in KOSPI 200 Night Futures as Index Surpasses 8000 As the KOSPI index surpassed the 8000 mark for the first time last month, foreign investors have significantly increased their trading activity in the KOSPI 200 night futures market. The trading volume has expanded, with foreign investors rapidly flipping between net buying and selling, indicating a strengthened short-term directional betting amid the index's upward trend. According to the Korea Exchange, foreign investors engaged in net buying and selling worth hundreds of billions of won daily in the KOSPI 200 night futures market in April. While some trading days saw transactions exceeding 300 billion won, the overall trading volume remained relatively limited. However, the situation changed in May. The daily trading volume for foreign investors surged into the trillions of won, marking a notable presence in the night futures market. This shift coincided with the KOSPI's continued upward momentum and rising expectations for surpassing the 8000 mark. Particularly since mid-May, the trading volume by foreign investors has increased further. On May 14, they recorded a net selling of 575.8 billion won, followed by net sales of 477.2 billion won and 437.5 billion won on the 6th and 8th, respectively. Conversely, on the 20th, they returned to net buying with 392.6 billion won, showcasing a substantial buying trend. Compared to April, the daily trading volume has expanded by several hundred billion won. The speed of trading direction changes has also accelerated. In April, foreign investor trading patterns tended to persist for several days, but by late May, rapid shifts between net buying and selling on a daily basis became prominent. For instance, on May 26, foreign investors recorded a net selling of 238.4 billion won, only to switch to a net buying of 233.9 billion won the next day. They then sold off 265.5 billion won on the 28th, before returning to net buying of 258.2 billion won on the 29th. This pattern of alternating buying and selling demonstrates their quick response to market changes. An industry insider noted, "During the process of the KOSPI surpassing 8000, foreign investors have responded to both the expectations of index increases and the potential for short-term volatility through the night futures market. Even as the index level rises, the interplay between bullish bets and profit-taking is evident, with the night futures market serving as a barometer for foreign investors' short-term strategies."* This article has been translated by AI. 2026-06-01 15:06:00

[[6·3 Local Elections]] Ruling Party Downplays Impact of Former Presidents' Campaigns As former Presidents Lee Myung-bak and Park Geun-hye campaign for the June 3 local elections, interpretations from both ruling and opposition parties diverge. The People Power Party believes the former presidents' support will galvanize conservative voters, while the Democratic Party argues that any such consolidation has already occurred, rendering their impact minimal. Kwon Chil-seung, a co-chair of the campaign for Democratic Party candidate Kim Boo-kyum for Daegu mayor, stated on June 1 during a press briefing at the National Assembly that he does not believe the presence of Park will influence the election outcome. He described the situation as a regression in Daegu politics and expressed confidence that the citizens will make a wise decision. Park Geun-hye made her appearance in Daegu, often referred to as the "heart of conservatism," as Kim and Choo Kyung-ho, the People Power Party's candidate for mayor, were in a tight race. Following her initial appearance, she has been campaigning in regions including Gangwon, Chungcheong, and Gyeongnam. Lee Myung-bak has also supported candidates such as Oh Se-hoon for Seoul mayor and Park Hyung-jun for Busan mayor. The People Power Party has analyzed that the involvement of both former presidents will positively influence voter turnout among conservatives. Park Hyung-jun mentioned on KBS Radio's "Current Affairs" program on May 29 that the support of former presidents encourages more conservative voters to head to the polls. However, Hong Joon-pyo, a former mayor of Daegu who left the People Power Party, criticized the former presidents on Facebook, stating that it is their duty to promote national unity, and their current actions do not reflect that responsibility. The Democratic Party has also taken a negative stance on the effectiveness of former presidents' support. Spokesperson Kang Jun-hyun stated on May 31 that since the conservative base has already consolidated, the involvement of Lee Myung-bak and Park Geun-hye will not significantly affect the election. Democratic Party leader Jeong Cheong-rae, attending a central election committee meeting in Cheonan, asserted that there are still factions dreaming of a revival of Yoon Seok-yeol, who he referred to as the leader of a coup, and that Park Geun-hye, who was impeached due to corruption, and Lee Myung-bak, a symbol of corruption who has served time, are undermining President Lee Jae-myung. He emphasized the need to send the trio of Yoon Seok-yeol, Lee Myung-bak, and Park Geun-hye into history. Jo Seung-rae, the party's secretary-general, also remarked during a press conference that relying on past leaders to influence the election is a relic of the past, asserting that reasonable citizens will not accept former presidents who have been imprisoned for corruption and abuse of power. 2026-06-01 15:06:00

[[6·3 Local Elections]] Jeong Cheong-rae and Jang Dong-hyuk Suspend Campaigns After Hanwha Aerospace Explosion Jeong Cheong-rae, leader of the Democratic Party, and Jang Dong-hyuk, leader of the People Power Party, suspended their campaign schedules on June 1 following an explosion at Hanwha Aerospace in Daejeon’s Yuseong District. The two had planned to hold a campaign event in Ulsan’s Nam District just two days before the June 3 local elections and National Assembly by-elections but canceled after the incident resulted in casualties. Jeong was scheduled to visit Cheonan in South Chungcheong Province, Goesan in North Chungcheong Province, Andong in North Gyeongsang Province, and Ulsan’s Nam District, but only completed his visit to Andong. While supporting candidates in Goesan, he stated, "If there are necessary measures regarding the incident, I will do my best," adding, "The primary virtue of our politics and the duty of the state is to protect the lives and safety of the people." Jang also had plans to visit Jeju’s Jeju and Seogwipo cities and Ulsan’s Nam District but canceled his remaining schedule after learning of the explosion before reaching Seogwipo. He expressed condolences on Facebook, saying, "I pray for the souls of those who lost their lives in the Hanwha Aerospace explosion and sincerely offer my condolences to the bereaved families. I hope the government will do its best for a swift recovery and damage control. The People Power Party will also spare no support as needed." Additionally, both the Democratic Party and the People Power Party issued a ban on the use of campaign songs and choreography for all candidates and campaign teams nationwide. The Democratic Party further instructed its members to suspend all on-site campaigns and events until further notice. Jeong and Jang were scheduled to campaign in Ulsan’s Nam District at similar times that evening. Ulsan is a hotly contested area due to the upcoming National Assembly by-election (Ulsan Nam-gap) and the agreement between the Democratic Party and the Justice Party to unify their mayoral candidates. Both parties view this region as a battleground, which is why the leaders aimed to secure moderate voter support just two days before the elections. However, the large-scale human tragedy prompted them to prioritize understanding the situation over campaigning. Meanwhile, the political sphere is closely monitoring how long the impact of this incident will last on the campaign trail. Both parties had previously paused their campaigns for a period following a deadly collapse of the Seosomun Overpass in Seoul on May 26. With the latest explosion occurring just two days before the elections, if the suspension of campaigning continues for an extended period, it could effectively end their election efforts.* This article has been translated by AI. 2026-06-01 15:03:00

[[6·3 Local Elections]] Opposition Criticizes Song Eon-seok's Meeting as Negative Campaigning The Democratic Party criticized Song Eon-seok, the floor leader of the People Power Party, on June 1 for his recent public appeal meeting, stating it was filled with candidate attacks and government criticism. They called for an end to negative campaigning and the introduction of a law to prevent such tactics. Cho Seung-rae, the party's secretary-general, spoke to reporters at the National Assembly, saying, "This was likely Song's last appeal to the public, but it was filled with attacks on candidates and criticism of the government." Cho specifically pointed out the lack of concrete policies and messages addressing citizens' livelihoods in Song's remarks during the meeting. "There was no specific vision or message regarding policies and livelihoods. It appeared that there was an intention to conduct the election using negative tactics until the end," Cho asserted, adding, "What is needed now is a law to prevent election crimes by the People Power Party." He also expressed concerns about candidates from the People Power Party, including Oh Se-hoon, Park Wan-soo, and Kim Du-gyeom, who are running in the local elections. "Looking at Oh's pledges, some are identical to those from four years ago. What has he done in the past four years to present the same promises? This is evidence of inaction. The citizens of Seoul will judge Oh's incompetence over the past four years," he warned. Cho also criticized Park and Kim, stating, "Park is under suspicion of mobilizing public officials to create deepfake videos," and "Kim has made absurd excuses regarding the operation of an illegal campaign office, claiming he was trying to avoid the rain." Additionally, he commented on former Presidents Lee Myung-bak and Park Geun-hye, who are participating in the People Power Party's campaign, saying, "Relying on past power to influence the election is the epitome of outdated politics. Reasonable citizens will not tolerate two former presidents who have been imprisoned for corruption and abuse of power."* This article has been translated by AI. 2026-06-01 15:03:00

Special Prosecutor to Publicly Summon Yoon Suk Yeol on June 6 The second comprehensive special prosecutor team, led by Kwon Chang-young, has decided to publicly summon former President Yoon Suk Yeol. This will mark the first time Yoon appears before the media while restrained by handcuffs. On June 1, the special prosecutor's office announced during a briefing at its Gwacheon office that Yoon would appear publicly on June 6, Saturday, to uphold the public's right to know. On that day, Yoon will arrive in a transport vehicle from the Seoul Detention Center and will be presented in front of reporters while restrained, in accordance with detention center regulations. However, the special prosecutor's office has requested that only one camera reporter and one journalist be allowed due to space constraints. When asked about the stance of Yoon's legal team regarding the public summons, a special prosecutor official stated, "They did not particularly oppose it." However, they added that the situation could change the day before the appearance, so they are monitoring the response. Contrary to the special prosecutor's position, Yoon's legal team issued a statement saying, "We are in discussions with the special prosecutor's office, and the public appearance has not been definitively confirmed." Yoon is accused of instructing the National Intelligence Service and others to convey messages to the international community justifying the declaration of martial law shortly after the December 3 martial law was announced. This will be Yoon's first appearance before the special prosecutor's team. The team is currently investigating former National Intelligence Service chief Jo Tae-yong as a suspect for his involvement in the alleged insurrection. Yoon is also scheduled to appear before the special prosecutor's team again on June 13 to be questioned as a suspect regarding charges of being a leader of a rebellion under military law. However, the special prosecutor's office has not confirmed whether this will also be a public summons. Additionally, there are no confirmed plans for public summonses for other individuals under investigation, including First Lady Kim Keon-hee and former Minister of the Interior and Safety Lee Sang-min. During the briefing, Special Prosecutor Kim Ji-mi stated that investigations are intensifying, having questioned 15 suspects and 40 witnesses last week. Notably, they have secured internal testimonies indicating that preparations for the martial law declared on December 3, 2024, began as early as November 2023. Kim revealed, "According to the investigation results of former Joint Chiefs of Staff Chairman Kim Myung-soo, many officials advised against the legality of deploying troops to the National Assembly at the time of the martial law declaration, but their concerns were ignored." As a result, the special prosecutor's office has summoned and is investigating former Fire Chief Heo Seok-gon and former Deputy Fire Chief Lee Young-pal, who are suspected of involvement in the insurrection. They plan to summon former National Intelligence Service Deputy Director Hong Jang-won on June 5 to focus on his actions leading up to the lifting of martial law on December 4. The investigation into allegations of covering up the case involving Kim's involvement is also expanding. The special prosecutor's office has charged Choi Jae-hoon, the former head of the Anti-Corruption Division at the Seoul Central District Prosecutors' Office, with the crime of falsifying official documents related to the Deutsche Motors stock manipulation case. The special prosecutor's office believes that Choi predetermined the conclusion of the investigation that cleared Kim of any wrongdoing in October 2024 and manipulated data during the report revision process. They have completed searches of his mobile phone and the Supreme Prosecutors' Office's information and communication division. Furthermore, in connection with the allegations of covering up the luxury bag investigation, the special prosecutor's office has seized the mobile phones of three personnel from the Ministry of Justice's personnel department from May 2024 and requested forensic analysis from the National Forensic Service. The special prosecutor's office has also completed the analysis of seized items related to the allegations of changing the route of the Seoul-Yangpyeong Expressway and plans to investigate the circumstances surrounding the declaration of nullification with the relevant officials from the Ministry of Land, Infrastructure and Transport during former Minister Won Hee-ryong's tenure. Additionally, in relation to the allegations of covering up the Unification Church investigation, the special prosecutor's office will continue to exert pressure by executing search warrants on the mobile phones of four police executives, including former National Police Chief Yoon Hee-keun. 2026-06-01 15:00:00

Democratic Party Appeals for Support for Kim Boo-kyum in Daegu Mayoral Race Democratic Party lawmakers on June 1 urged voters to support Kim Boo-kyum, stating that Choo Kyung-ho, the People Power Party's candidate for Daegu mayor, lacks the capacity to care for the city due to his legal troubles. They emphasized that Daegu is in need of change. During a press conference at the National Assembly, Kwon Chil-seung, co-chair of Kim's campaign, along with lawmakers Park Hae-cheol, Lee Jae-jeong, Im Mi-ae, and Han Jeong-ae, highlighted that Choo is facing serious charges and is currently under indictment for important duties related to insurrection. They expressed concern that a mayor who needs to address pressing economic issues in Daegu might frequently find himself in court, stating, "Choo may have to sit in the defendant's seat at the Seoul Central District Court on a regular basis, as his criminal trial schedule is packed." They argued that what Daegu needs now is a leader who can pull the city out of a deep economic slump and create opportunities for change and development, referring to Kim as that person. The lawmakers also noted a positive atmosphere surrounding the mayoral election. One lawmaker remarked, "The atmosphere on the ground is very passionate," adding that there is a strong desire for change in Daegu, with some believing this may be their last chance. Another lawmaker shared, "Over the past decade, I've visited Daegu during election periods, and the frequency of people expressing their opinions has noticeably increased compared to previous elections." Kwon further noted that when Kim previously ran for mayor, he was not welcomed at Seomun Market, but this time he received an enthusiastic reception from the merchants. Kwon assessed the electoral landscape, stating, "While there are many shy conservatives, it seems that there are even more shy supporters of Kim Boo-kyum," expressing hope for victory.* This article has been translated by AI. 2026-06-01 15:00:00

GC Green Cross's Bimax Wins Four Brand Awards This Year, Strengthening Its Position in High-Dose Vitamin B Market As the market shifts from a focus on general multivitamins, there is a growing demand for high-dose Vitamin B products aimed at fatigue management. Even at higher price points, products emphasizing fatigue relief are gaining market share. GC Green Cross announced on June 1 that its high-dose Vitamin B complex, Bimax, won the top award in the high-dose Vitamin B category at the '2026 Consumer Recommended Brand Awards' held on May 28. The Consumer Recommended Brand Awards evaluate consumer satisfaction, brand trust, and market competitiveness to select leading brands in various categories. Including this latest accolade, Bimax has received four brand awards in the first half of this year. It previously won honors at the 'Hall of Fame for Korean Brands,' '2026 Best Brand in Korean Consumer Evaluation,' and '2026 Most Loved Brand Awards in Korea.' Bimax contains high-dose active Vitamin B and is primarily sold through pharmacy distribution channels. Its flagship product, Bimax Jet, is noted for its high-dose active Vitamin B and various vitamins and minerals, appealing to consumers needing fatigue management. GC Green Cross is expanding its advertising and marketing efforts by featuring actor Jung Ji-hoon as its model. A company representative stated, "We aim to develop products that reflect consumer needs and become a leading vitamin brand in South Korea."* This article has been translated by AI. 2026-06-01 15:00:00

Young Adults Struggle with Debt as Savings Become Elusive The government has introduced various asset formation policies for young people, including the Youth Future Savings program. However, the financial reality for many young adults is more about managing debt than saving. Young people have recorded the highest loan delinquency rates among all age groups, with many resorting to borrowing to cover living expenses. This raises concerns that, contrary to the government's focus on savings, debt management has become a more pressing issue for a significant number of young adults. As of the end of March this year, the average delinquency rate for household loans among those under 20 at the five major banks—KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup—was 0.44%, the highest across all age groups. Those aged 60 and above followed closely with a rate of 0.41%, while the rates for those in their 50s and 40s were 0.36% and 0.32%, respectively. The lowest rate was 0.22% for those in their 30s. Although the delinquent balance for those under 20 was 125.3 billion won, the smallest among all age groups, the high delinquency rate suggests that young adults are relatively more vulnerable in terms of repayment capacity. Financial experts note that young adults often have limited income and insufficient financial assets, making them more susceptible to delinquency when faced with short-term expenses like living and housing costs. The primary factor reducing the savings capacity of young adults is the burden of living expenses. A survey conducted by the Seoul Financial Welfare Counseling Center last year found that 67.9% of 1,025 young individuals under 29 who applied for personal rehabilitation cited covering living expenses as the main reason for incurring debt. Many are turning to credit cards or loans to fill the gap, indicating a growing trend of prioritizing debt repayment over savings. Given this situation, it remains to be seen how effective asset formation policies targeting young adults will be in reaching those most in need. The Youth Future Savings program, which is open for enrollment this month, aims to support long-term savings for young people but requires a certain income level and monthly contribution capacity. For those currently lacking income or struggling with living expenses and debt repayments, both enrolling in and maintaining the program may prove challenging. Similar limitations have been observed with the existing Youth Leap Account. Participants in this program have an average credit score of 876.2, higher than the overall average of 814.1 for young people. This suggests that those with better financial conditions and higher credit scores are benefiting more from these policies, potentially leaving the most vulnerable young adults further distanced from institutional support. The government is aware of the challenges faced by vulnerable young adults who are often excluded from existing policy frameworks. Recently, the Office of National Integration at the Presidential Office held discussions with young people in caregiving roles, those experiencing isolation, and youth preparing for independence to address the difficulties faced by those in policy blind spots. However, current financial policies for young people are primarily designed to support asset formation, which may not adequately address the needs of those already burdened by debt. A financial sector representative stated, "While youth asset formation policies are necessary, many young people are more concerned about managing living expenses and debt repayments than saving. An approach that addresses both savings support and debt management is essential." 2026-06-01 15:00:00