IBK Industrial Bank to Provide 1.5 Trillion Won in Financial Support for SMEs IBK Industrial Bank is set to provide 1.5 trillion won in financial support aimed at small and medium-sized enterprises (SMEs). The initiative seeks to assist small businesses that are often overlooked by policy measures while also promoting growth in future strategic industries.The bank has signed a memorandum of understanding with the Korea Credit Guarantee Fund and the Korea Technology Finance Corporation to expand inclusive and productive finance.Under this agreement, IBK will allocate 500 billion won for inclusive finance and 992.5 billion won for productive finance. The contributions include 15.25 billion won for inclusive finance and 27 billion won for productive finance.The inclusive finance support will target legal small businesses, startups that have graduated from incubation, traditional manufacturing firms, and companies undergoing business transitions. IBK plans to reduce loan interest rates by up to 1.3 percentage points and cover the full guarantee fee for the first year, along with 0.5% of the fee for the second year.Productive finance will focus on new growth industries, promising startups, and companies that create jobs, including those in artificial intelligence, biotechnology, content creation, culture, defense, energy, and manufacturing. These businesses will also benefit from a maximum interest rate reduction of 1.3 percentage points, with a 0.5% guarantee fee support from the Korea Credit Guarantee Fund and 0.8% from the Korea Technology Finance Corporation for two years.An IBK official stated, "This agreement is a comprehensive support measure for SMEs and future growth companies that are in policy blind spots. We aim to be a strong pillar to ensure that SMEs do not lose their growth momentum."* This article has been translated by AI. 2026-06-04 11:18:00

Korean Privacy Commission Launches Investigation into TVING Data Breach The Personal Information Protection Commission (PIPC) has initiated an investigation into a data breach involving the online video service TVING. On June 4, the PIPC announced that it had received a report of the data breach from TVING and has begun examining the circumstances surrounding the incident and the extent of the damage. TVING reported the breach after discovering unauthorized access to its database, which led to the potential exposure of personal information. The compromised data is believed to include user IDs, names, birth dates, genders, connection information (CI), duplicate membership confirmation information (DI), mobile phone numbers, email addresses, refund account numbers, and passwords. According to TVING's preliminary assessment, an unidentified hacker accessed the database containing personal information and transmitted related files externally, resulting in the breach. The PIPC plans to confirm the specifics of the breach and the extent of the damage through document requests and on-site investigations. Additionally, it will check compliance with safety measures and obligations regarding the notification and reporting of personal data breaches, as mandated by the Personal Information Protection Act.* This article has been translated by AI. 2026-06-04 11:18:00

Hanwha Aerospace halts operations at 9 sites for safety inspections SEOUL, June 04 (AJP) - Hanwha Aerospace said Thursday it has suspended operations at nine domestic sites for two days to conduct safety inspections and employee training, following a deadly explosion at its plant in Daejeon. The company said it halted production lines from June 4 to 5, except for some essential processes, under the supervision of each site manager and safety officer. The affected sites include plants in Daejeon, Boeun in North Chungcheong Province and Yeosu in South Jeolla Province, which produce and handle propellants and charges. The shutdown also applies to its Changwon plants in South Gyeongsang Province, which manufacture K-9 self-propelled howitzers, armored vehicles and aircraft engines, as well as R&D campuses in Daejeon, Pangyo and Asan. It marks the first time Hanwha Aerospace has simultaneously suspended operations at multiple sites since the launch of its integrated entity in 2023, following the merger of Hanwha Aerospace, Hanwha Defense and Hanwha Corp.’s defense division. The company said the decision was made because securing a safe workplace environment takes priority over potential production disruptions, as part of efforts to prevent risks similar to the accident at the Daejeon plant. During the inspections, Hanwha Aerospace will review risks related to fires, explosions, serious accidents, unsafe facilities and working conditions, risk assessments and past accident cases. The company will also reexamine machinery, work environments and structures, while checking whether corrective measures and recurrence prevention steps from risk assessments over the past three years have been properly implemented. Hanwha Aerospace said it has also begun reviewing the expansion of unmanned automation for processes related to the production and handling of propellants. Special safety training for employees will also be conducted during the two-day period. Each site will provide training on similar accident cases at home and abroad, workers’ right to stop work in the event of imminent danger and emergency response plans. Hanwha Group said its petrochemical affiliates, including Hanwha Corp., Hanwha Solutions, Hanwha TotalEnergies, Hanwha Impact and YNCC, will also form CEO-led inspection teams by June 10 to review workplace safety, production processes and environmental management at their domestic and overseas sites. 2026-06-04 11:17:15

Court Denies Exit Ban Suspension for Professor Moss Tan Amid Criminal Investigation A South Korean court has rejected a request to suspend an exit ban on Moss Tan, a professor at Liberty University in the United States, who is under investigation for allegedly claiming that President Lee Jae-myung was involved in past criminal activities, including election fraud. According to legal sources on June 4, the Seoul Administrative Court, presided over by Judge Wi Ji-hyun, dismissed Tan's application to suspend the exit ban imposed by police. The court acknowledged the urgent need to prevent irreparable harm to Tan but stated that suspending the ban could significantly impact public welfare. The ruling emphasized that investigations should not be unnecessarily prolonged due to the exit ban, but it also noted that there was no substantial reason to deem the police's judgment regarding the necessity and validity of the exit ban unreasonable. While the court recognized the potential for Tan to suffer irreparable damage from the exit ban, it concluded that the risk to public welfare from lifting the ban was greater. Tan, a Korean-American, immigrated to the United States with his family in 1979. He earned a Juris Doctor from Northwestern University School of Law in 2001 and became a licensed attorney in Illinois. Tan, who served as the U.S. Department of State's Ambassador-at-Large for Global Criminal Justice during the Trump administration, is currently under police investigation for spreading false information, including claims that China interfered in South Korea's elections and that President Lee spent time in a juvenile detention center. After Tan returned to South Korea on May 28, police requested his attendance for questioning. However, when Tan's team did not comply, they applied for the exit ban, prompting Tan to file a lawsuit against the decision.* This article has been translated by AI. 2026-06-04 11:12:00

Prime Minister Kim Calls for Collaboration Between Central and Local Governments On June 4, Prime Minister Kim Min-seok emphasized the need for collaboration between the central and local governments to achieve tangible results for the public. During his opening remarks at a meeting of the Emergency Economic Headquarters held at the Government Seoul Building, Kim noted, "Yesterday, the nationwide local elections were held, and new local leaders have been elected to guide local governments for the next four years." He urged the heads of various ministries to enhance communication with local governments, stating, "It is essential that the government's national tasks, local pledges, and key issues of local governments create synergy. Please also monitor the progress of major projects." He added, "Now is the time to demonstrate the policies promised to the public." Kim also expressed his condolences regarding the recent explosion at Hanwha Aerospace's Daejeon facility and the fire at SK Hynix's Cheongju plant. He stated, "I extend my deepest condolences to those who lost their lives in these incidents." He called for thorough support for the treatment of the injured and assistance for the victims' families, urging relevant agencies to ensure no negligence occurs. He stressed the importance of joint inspections by the government and local authorities on high-risk processes, including the facilities involved in the accidents, to ensure improvements are implemented. Regarding the conflict between the United States and Iran, Kim remarked, "Even if a ceasefire is reached, it is expected that normalizing the supply of petroleum products and restoring supply chains will take considerable time, possibly several months." This week, the Consumer Price Index for May was reported to have risen by 3.1% compared to the same month last year, marking the first time it has reached the 3% range since March 2024. Kim noted, "The impact of rising prices does not affect all income levels equally. Low-income households feel the effects more acutely due to their higher expenditure on essentials like food and energy." He urged relevant departments to do their utmost to stabilize prices, particularly for essential goods.* This article has been translated by AI. 2026-06-04 11:09:00

Chinese Green Transition Demand Draws Domestic Equipment Firms to Tianjin Domestic eco-friendly equipment companies are making inroads into the Chinese market as demand for green technology surges. This strategy aims to capture a growing niche market. The Korea Trade-Investment Promotion Agency (KOTRA), in collaboration with the Korea Environmental Industry Association, is hosting the '2026 China Tianjin Environmental Industry Export Consultation Meeting' from June 4 to 5 in Tianjin. The event is designed to address the green transition needs in seven key industrial sectors identified by the Chinese government, including eco-friendly equipment, information technology, and equipment manufacturing. Tianjin, a major industrial hub in northern China, has a fine particulate matter (PM2.5) concentration of 36.2 µg/m³, approximately 30% higher than the national average. Due to its industrial structure, the city has faced criticism for high emissions of air pollutants, prompting calls for a transition to smart, low-carbon infrastructure. In response, the Chinese government designated Tianjin as a 'National Green Development Pilot Zone' in 2024, promoting the greening of industries through initiatives like smart water treatment and carbon reduction. The plan includes an investment of 52 billion yuan (about $7.2 billion) to enhance green technology, equipment, services, and financial infrastructure by 2035, while also attracting global companies to the pilot zone. To align with this demand, KOTRA facilitated export consultations for 11 promising domestic environmental technology firms with 25 Chinese buyers, focusing on low-carbon management, energy reduction, and digital water treatment solutions. Two domestic companies producing sludge reduction dewatering systems and smart water quality measurement devices successfully signed agent contracts and memorandums of understanding (MOUs) with Chinese buyers during the event. Additionally, a separate meeting between South Korean and Chinese government officials and relevant organizations discussed ways to expand cooperation and exchanges in the environmental industry, involving the Ministry of Climate, Energy and Environment, the Korea-China Environmental Cooperation Center, and the Korea Environmental Technology Institute, among others, with Tianjin's Ecological Environment Bureau and Environmental Protection Association. KOTRA's China Regional Headquarters Director Hwang Jae-won stated, "The Chinese government is prioritizing green transition across industries and urban operations. We will do our utmost to uncover business opportunities and connect our companies with partners." 2026-06-04 11:03:00

Real Estate Auctions in Gyeonggi Province Surge 23.5%, Kimpo Sees Threefold Increase High interest rates have led to a significant increase in the number of properties in Gyeonggi Province changing ownership through auctions. According to data analyzed by the real estate information app Zipum from the Supreme Court's registration information portal, the number of properties sold through voluntary auctions in Gyeonggi Province rose from 942 cases in May 2025 to 1,163 cases in May 2026, marking an increase of 221 cases or 23.5%. Pyeongtaek City recorded the highest number of cases at 105, followed by Suwon's Gwonseon District with 97, Gimpo City with 93, Yangpyeong County with 85, and Namyangju City with 65. Last year, Pyeongtaek also led with 82 cases, while Paju City and Yangpyeong County were among the top areas. This year, Pyeongtaek maintained its top position, with Suwon and Gimpo moving up in the rankings. The most significant increase was seen in Gimpo City, which jumped from 30 cases last May to 93 this year, a rise of over threefold. Suwon's Gwonseon District also expanded from 54 to 97 cases, while Suwon's Paldal District surged from 4 to 47. Additionally, Namyangju City increased from 30 to 65 cases, and Yongin's Cheoin District rose from 18 to 51, both showing more than double growth. The analysis indicates that voluntary auction sales are increasing, particularly in the southwestern metropolitan area and the outskirts of new cities like Gimpo and Namyangju. Conversely, some areas experienced a decline. Yeoju City saw a drop from 39 to 6 cases, Yangju City from 50 to 26, Goyang's Ilsanseo District from 25 to 4, and Icheon City from 17 to 3. Notably, Yeoju and Goyang's Ilsanseo District reported significant decreases of 84.6% and 84.0%, respectively. This highlights a clear disparity in trends across different regions within Gyeonggi Province. The application for ownership transfer registration due to voluntary auctions involves properties with established collateral rights being sold at auction, indicating an increase in properties reaching the auction sale stage. This trend serves as a barometer for the financial conditions of the local real estate market. Industry experts attribute the rise in auction cases to the burden of interest payments exacerbated by high rates and economic slowdown. Many properties purchased during the price surge from 2021 to 2022 have recently reached the actual sale stage, contributing to this increase. A representative from Zipum stated, "The number of properties sold through voluntary auctions in Gyeonggi Province has increased by 23.5% in a year, with Gimpo City seeing a threefold rise from 30 to 93 cases, highlighting notable changes in the outskirts of the metropolitan area. However, regions like Yeoju and Yangju have seen declines, indicating the need to analyze regional trends within Gyeonggi Province more closely." 2026-06-04 11:03:00

Constitutional Court Upholds Lawyer Exam Law, Excludes Pregnancy and Childbirth Exceptions The Constitutional Court has narrowly upheld a provision in the Lawyer Examination Act that does not recognize pregnancy and childbirth as exceptions to the five-exam limit imposed on law school graduates within five years of graduation. However, the majority of justices expressed concerns about the law's alignment with constitutional protections for maternal rights, indicating that legislative discussions for reform are likely to follow. On June 4, legal sources reported that the court ruled 4 to 5 in favor of upholding Article 7, Section 2 of the Lawyer Examination Act. Although five justices voiced opinions of unconstitutionality, the ruling did not reach the required six votes for a declaration of unconstitutionality, resulting in a final decision of constitutionality. Article 7, Section 1 of the Lawyer Examination Act stipulates that graduates of law schools can take the bar exam only five times within five years from the end of the month in which they obtain their master's degree. Section 2 allows for the exclusion of the period of military service from this five-exam limit, a provision often referred to as the 'typo' system. Claimant Kim Nuri, who graduated from law school in 2016, attempted the bar exam but failed. After giving birth to and raising two children, she was unable to take the exam again after failing in 2020. Kim and others argued that the current law, which recognizes only military service as an exception, infringes on their rights to equality and freedom of occupational choice. Justices Kim Hyung-doo, Jeong Jeong-mi, Jeong Hyung-sik, and Jo Han-chang supported the constitutionality of the law. They argued that the provision aligns with constitutional requirements to prevent disadvantages for those fulfilling military obligations and maintained existing precedents. They also expressed concerns that recognizing additional exceptions could complicate the fairness of exam opportunities and pass rates, potentially undermining trust in the examination system. Conversely, Justices Kim Sang-hwan, Kim Bok-hyung, Jeong Gye-seon, Ma Eun-hyeok, and Oh Young-jun expressed opinions of unconstitutionality. They stated, "Considering the state's obligation to protect maternal rights, this provision violates the principle of proportionality by infringing on the occupational freedom of candidates who cannot adequately take the bar exam due to pregnancy and childbirth." They emphasized that the unconstitutionality lies not in the exemption for military service but in the failure to recognize any other exceptions. This creates a situation where candidates preparing for or experiencing pregnancy and childbirth must choose between forgoing exam opportunities and delaying their family planning. The dissenting opinion also highlighted the state's obligation under Article 36, Section 2 of the Constitution to protect maternal rights. They noted that adequate birth rates and population are fundamental to national existence and development, linking maternal issues to community interests. Furthermore, they argued that many female candidates for the bar exam are of childbearing age, making it excessive to disregard pregnancy and childbirth as potential exceptions. The Constitutional Court has previously upheld Article 7 of the Lawyer Examination Act multiple times. In a 2020 ruling, the court first acknowledged the need to consider unavoidable circumstances like pregnancy and childbirth, leading to ongoing related petitions. The increase in dissenting opinions to five in this case has amplified calls for reform of the system. The Anti-Corruption and Civil Rights Commission also recommended in December of last year that the Ministry of Justice amend the Lawyer Examination Act to exclude one year from the exam limit for those giving birth. Attorney Park Eun-sun, representing Kim, stated, "With five justices now expressing the opinion that this is unconstitutional, we will continue our legislative efforts. We will also seek a ruling from the Constitutional Court if similar cases arise, including those involving serious illness preventing attendance at the exam."* This article has been translated by AI. 2026-06-04 11:00:00

Record Number of Graduates and N-Students Take June Mock Exam The first mock exam for the 2027 College Scholastic Ability Test has begun, signaling significant changes in the college admissions landscape due to a record influx of graduates and a trend of science students focusing on social studies, known as "social studies rush." The Ministry of Education and the Korea Institute for Curriculum and Evaluation announced that the June mock exam was conducted nationwide at 2,124 high schools and 564 designated academies starting at 8:40 a.m. on June 4. This mock exam is the first nationwide assessment reflecting the impact of increased medical school admissions and is expected to serve as a key indicator of the test's content and students' academic levels. A total of 488,343 students registered for this June mock exam. Due to a decline in the school-age population, the number of current third-year students decreased by 22,273 from the previous year, totaling 391,412. In contrast, the number of graduates and N-students increased by 7,044 from the previous year, reaching 96,931. Graduates now account for 19.8% of all test-takers, marking the highest percentage since the evaluation agency began releasing statistics in 2011. The trend of selecting social studies over science subjects has intensified. Among those taking the social and scientific inquiry sections, 66.9% (417,935 students) chose social studies, the highest ever recorded. Conversely, the selection rate for science subjects fell to 33.1%, the lowest in history. This shift indicates that students are moving towards social studies, which has less academic burden, following the elimination of designated inquiry subjects for science-related programs, solidifying the "social studies rush" phenomenon. Experts in the admissions industry have noted that the variables of increased medical school admissions and the influx of N-students have made it extremely difficult to predict subject advantages and cutoff scores. Lim Sung-ho, head of Jongno Academy, stated, "The solidification of the social studies rush and the significant increase in N-students make it very challenging to predict cutoff scores. It is essential to analyze the preliminary scoring results conservatively and develop a reverse strategy for applying to both early and regular admissions."* This article has been translated by AI. 2026-06-04 11:00:00

Hanmi Semiconductor Makes Debut at Computex 2026, Showcases AI Semiconductor Supply Chain Hanmi Semiconductor made its debut at Computex 2026 in Taipei, Taiwan, aiming to strengthen its position in the global supply chain for artificial intelligence (AI) semiconductors with its key equipment, the TC Bonder for HBM (High Bandwidth Memory). According to industry sources, Hanmi Semiconductor participated in Computex 2026, held from June 2 to June 5 at the Nangang Exhibition Center and the Taipei World Trade Center. Originally a PC and electronics exhibition, Computex has evolved into a platform where major global semiconductor companies, including NVIDIA, AMD, and Intel, showcase advancements in AI technology. At the exhibition, Hanmi Semiconductor introduced the 'TC Bonder 4' for HBM4 production and the 'Wide TC Bonder' aimed at next-generation HBM production. The TC Bonder is essential for precisely stacking multiple layers of DRAM to create HBM. The Wide TC Bonder is designed to accommodate the larger die sizes of next-generation HBM production. Increasing die area allows for more through-silicon vias (TSVs) and input/output interfaces, which is advantageous for expanding memory capacity and bandwidth. The company also unveiled 2.5D packaging equipment for AI semiconductors. Hanmi Semiconductor highlighted its advanced packaging capabilities with the introduction of the '2.5D TC Bonder 40' and '2.5D TC Bonder 120,' which integrate GPUs, CPUs, and HBM on a silicon interposer. Industry experts note that as HBM generations advance, not only memory performance but also stacking precision and packaging yield become critical factors influencing the overall supply capacity for AI semiconductors. Hanmi Semiconductor is also working to expand its global customer base. The company is preparing to establish a local subsidiary, Hanmi USA, in San Jose, California, by the end of this year. This strategy aims to enhance local responsiveness in a region where major AI semiconductor companies, including NVIDIA, are concentrated. Computex 2026 features participation from 1,500 companies and operates 6,000 booths. Key figures in the global AI semiconductor industry, including NVIDIA CEO Jensen Huang and AMD CEO Lisa Su, also delivered keynote speeches. A Hanmi Semiconductor representative stated, "Computex serves as a venue to confirm the technological trends in the global hardware supply chain, from AI chip design to packaging, physical AI, and finished products. We aim to strengthen our global market leadership with our proprietary TC Bonder and next-generation equipment."* This article has been translated by AI. 2026-06-04 10:54:00