KOSPI Approaches 8500 Amid Semiconductor Rally; Nvidia Event Ahead The South Korean stock market continues its strong rally, driven by semiconductor stocks, with the KOSPI nearing the 8500 mark. Expectations surrounding artificial intelligence (AI) semiconductors from Samsung Electronics and SK Hynix have boosted the market. However, the recent launch of single-stock leveraged exchange-traded funds (ETFs) has intensified market volatility due to concentrated supply and demand. Analysts are closely watching next week’s Nvidia annual AI conference, ‘GTC Taipei 2026,’ and U.S. employment data to gauge the sustainability of the semiconductor rally and the potential for sector rotation. According to the Korea Exchange, the KOSPI index rose by 290.86 points (3.55%) to close at 8476.15 on the previous trading day. Over the week from May 26 to May 29, the KOSPI increased by 8.01%, while the KOSDAQ fell by 7.43%. This week, the domestic market has seen a pronounced concentration of supply and demand in the semiconductor sector. With the easing of strike risks following a tentative agreement between Samsung Electronics and its labor union, UBS raised its price target for Micron from $535 to $1625, significantly improving investor sentiment in the global memory sector. Additionally, the launch of single-stock leveraged ETFs for Samsung Electronics and SK Hynix has attracted individual investors to large-cap semiconductor stocks, driving the index higher. As of May 27, Samsung Electronics and SK Hynix accounted for 52% of the KOSPI’s market capitalization. In contrast, existing semiconductor ETFs and KOSDAQ semiconductor stocks experienced capital outflows, contributing to the KOSDAQ's decline. Analysts attribute the widening performance gap between the KOSPI and KOSDAQ to this concentration in semiconductor stocks. Shin Eol, a researcher at Sangsangin Securities, noted, “Since May, the KOSPI has shown a coupling effect when semiconductors decline and a decoupling effect when they rise. The ADR indicator, which reflects the number of rising and falling stocks in the market, has dropped to 55%, below the recognized floor of 75%. The VKOSPI, which indicates market volatility, has also surpassed 70 points again in May, indicating a significant level of volatility compared to the typical 30-point increase seen in expanded volatility phases.” He added, “Given the current environment where buying and selling are crossing paths, and investor sentiment remains somewhat unstable, it is advisable to be cautious about short-term profit-taking on individual stocks.” Geopolitical risks in the Middle East appear to be easing. President Donald Trump mentioned on social media that negotiations with Iran are progressing smoothly, and reports indicate that both sides are nearing a memorandum of understanding (MOU) that includes reopening the Strait of Hormuz, which has alleviated some upward pressure on oil prices. However, military clashes between U.S. forces and the Iranian Revolutionary Guard continue, maintaining market caution. Next week, a global IT event and U.S. employment data are on the agenda. From June 1 to 4, Nvidia’s GTC Taipei 2026 will take place, featuring a keynote address by CEO Jensen Huang, with AI chips, agentic AI, and physical AI expected to be key topics. Samsung Electronics and SK Hynix are also anticipated to highlight their collaboration on high-bandwidth memory (HBM) during the event. The domestic market will be closed on June 3 for the 9th nationwide local elections. On June 5, the U.S. is set to release data on non-farm payrolls, unemployment rates, and average hourly earnings for May. The market expects an increase of 95,000 jobs and an unemployment rate of 4.3%. Jo Byeong-hyeon, a researcher at Daol Investment & Securities, stated, “The market interest rates seem to already reflect concerns about oil prices and inflation, along with a hawkish Federal Reserve stance. Therefore, employment data that slightly falls short of expectations could be interpreted positively. However, if the data deviates significantly from expectations, it may act as a factor of volatility.” Analysts are leaning towards the likelihood of a continued semiconductor-led rally in the short term. However, given the excessive concentration of supply and demand in the semiconductor and IT hardware sectors during May’s market surge, there are discussions about the potential for sector rotation towards industries with improved earnings, such as secondary batteries, shipbuilding, defense, and securities in June. Lee Jae-won, a researcher at Yuanta Securities, remarked, “In May, the speed of stock price increases was rapid, largely influenced by the expansion of price-to-earnings ratios (PER) and the effects of leveraged ETF supply. In June, there is a possibility of sector rotation towards industries with improved earnings per share (EPS) outside of IT.” He emphasized, “The key is not the departure of leading stocks but the maintenance of leadership while expanding into other sectors.” Jo added, “In the short term, with upward pressures on oil prices and interest rates easing, we can expect some recovery in the relative strength of the KOSDAQ and sector rotation. However, since we are not in a phase of declining interest rates, the choices will still narrow down to industries within the AI value chain that can outpace interest rate pressures.” * This article has been translated by AI. 2026-05-30 06:03:00

Taiwanese Celebrity Lin Chi-ling Faces Backlash Over Pro-China Stance The phrase "Liang'an bushi ren" (兩岸不是人) reflects a cynical view that neither side of the Taiwan Strait—mainland China and Taiwan—welcomes certain individuals. Recently, this expression has resurfaced in discussions surrounding Taiwanese celebrity Lin Chi-ling's recent actions. The controversy began when Lin was appointed to the board of the Taiwan Creative Content Agency (TAICCA), an organization established by the Taiwanese government in 2019 to promote the cultural content industry and support global marketing efforts. Her appointment aimed to leverage her international experience. However, upon the announcement of her appointment, criticism arose from pro-independence factions in Taiwan. The backlash intensified after Lin shared a post on Chinese social media platform Weibo on October 1, 2023, celebrating the 74th anniversary of the founding of the People's Republic of China, along with a video of her singing a patriotic song in China. This fueled accusations of her pro-China stance. Critics argued that her role on the board of an agency tasked with promoting Taiwanese identity and cultural content was inappropriate, especially during a sensitive period in cross-strait relations. Some claimed that the agency should maintain a certain distance from mainland China. In response, Taiwan's Mainland Affairs Council publicly supported Lin's appointment, urging her to "disconnect from China and return to Taiwan" (脫中返台). However, this statement reportedly complicated Lin's position, as she has been active in both Taiwan and mainland China. Ultimately, Lin broke her silence just nine days after her appointment, stating that she wished to prevent further "baseless speculation and misunderstandings" and announced her resignation. This led to a wave of criticism from Chinese netizens. In China, many view TAICCA as part of the ruling Democratic Progressive Party's 'cultural Taiwan independence' policy. Some online commentators interpreted Lin's acceptance of the board position as a pro-independence move. Additionally, her quick resignation raised suspicions that it was a strategic decision to continue her activities in mainland China. Lin hails from Tainan, a city known for its strong anti-China sentiment. Her father is a well-known supporter of former President Tsai Ing-wen, who advocates for Taiwanese independence. Consequently, Lin faced backlash when she began her career in mainland China. Despite this, she maintained popularity in China as cross-strait relations stabilized over time. After marrying a Japanese actor in 2019, she reduced her public appearances but resumed her activities in mainland China this year. Following the recent controversy, Lin's name was removed from the cast list of a Chinese drama in which she was expected to make a special appearance, and other entertainment programs are reportedly seeking replacements for her. This indicates a growing atmosphere of boycott against Lin in mainland China. This situation has drawn comparisons to the 2016 'Tzuyu incident,' where Tzuyu, a member of the K-pop group TWICE from Taiwan, faced backlash from Chinese netizens for waving a Taiwanese flag on a Korean broadcast. After publicly apologizing, she encountered a backlash in Taiwan as well. Ultimately, the phrase "Liang'an bushi ren" encapsulates the precarious reality faced by Taiwanese celebrities amid escalating cross-strait tensions. They become targets of controversy without explicitly stating their political views, and any perceived alignment with one side can provoke backlash from the other. As cross-strait relations worsen, the space for Taiwanese entertainers continues to shrink.* This article has been translated by AI. 2026-05-30 06:03:00

Five Masters Discuss the 'Essence' of Theater Amid Ongoing Conflict "We are currently at war. This work is also at war." (Kim Woo-ok, Director) Five prominent figures in the Korean theater scene will gather this fall at Daehakro. The directors, who have led the aesthetic evolution of Korean theater for nearly half a century, will present works that challenge contemporary society at the Daehakro Theater Quad from September to December. At a press conference held on May 26 at the Daehakro Theater Quad in Jongno, Seoul, directors Kim Ah-ra, Kim Kwang-bo, Kim Woo-ok, Lee Seong-yeol, and Han Tae-sook discussed their upcoming performances. The lineup includes Kim Ah-ra's "The Sound of Macbeth," followed by Kim Kwang-bo's "Why Are There Peppers on the Rooftop Garden?," Kim Woo-ok's "Dance of the Revolution," Lee Seong-yeol's "Flame," and Han Tae-sook's "Seohan Hwa Cha," which will run sequentially until the end of the year. Each director has established a unique stage language that contributes to the paradigm of contemporary Korean theater through structuralism, spatial experimentation, and physical language. Notably, Kim Woo-ok, a master of Korean structuralist theater, will present "Dance of the Revolution," which has received acclaim for its experimental and fresh approach since its premiere in Korea in 1981. Kim Woo-ok participated in the play as an actor while studying theater in New York during its U.S. premiere in 1976. He stated, "The main reason for bringing this 50-year-old work back is to experiment with whether the theater that was alive then is still alive now with the audience." He added, "I was surprised that young people enjoyed it so much during the 2023 performance. I want to test if this work can still be loved." "Dance of the Revolution" consists of just 12 lines of dialogue and eight scenes, using small flashes of light from the actors and unconventional physical movements to express revolution. Kim Woo-ok explained, "There is no plot in this work. There are only eight situations related to revolution, and these situations are connected to our world today, where war is ongoing." The directors also shared their thoughts on the essence of theater. Kim Ah-ra identified it as "play," Kim Kwang-bo as "everyday life," Lee Seong-yeol as "humanity," and Han Tae-sook as "comfort." Kim Woo-ok's answer was simple: "fun." He remarked, "When you delve into the essence of theater, it becomes unclear. I did it without thinking too much. There is no need for difficult thoughts or theories in theater." He continued, "It is very enjoyable to perform a plotless play in a wonderful theater in Daehakro, and I want to show that even a plotless play has its own vitality." He also expressed optimism about the potential of artificial intelligence (AI) in theater, stating, "Introducing new technology to the stage is essential. We need to explore how to incorporate AI into theater. It will lead to much more interesting outcomes." He emphasized the importance of "fun" once again, saying, "If we can provide enjoyment, what can't we do? I believe that incorporating AI quickly will lead to much more entertaining theater in the near future." Tickets are set to go on sale on July 28, and details can be found on the Quad website and Nolticket.* This article has been translated by AI. 2026-05-30 00:15:00

Demolition of Seosomun Overpass Completed; Gyeongui Line Resumes Service The demolition of the main structure of the Seosomun overpass in Seoul, which resulted in six casualties, was completed approximately 79 hours after the collapse. Train services on the Gyeongui Line, which had been suspended due to the incident, will resume with the first train on May 30. The Seoul city government announced that the emergency demolition of the overpass began at midnight on May 29 and was completed by 9:40 p.m. the same day. However, not all demolition work has been finalized. Columns deemed to have a lower risk of collapse will be removed in a manner that does not disrupt train operations within the next 10 days. Restoration work on the tracks for the Gyeongui Line will continue overnight. The Korea National Railway Corporation plans to complete maintenance of railway facilities, including overhead lines, by around 5 a.m. on May 30, allowing train services to resume with the first train. The Seosomun overpass experienced a collapse on the morning of May 26 when a girder supporting the upper slab sank by about 2.9 centimeters, halting construction. Later that day, during a safety inspection, part of the slab collapsed, resulting in the deaths of three construction workers and injuries to three public officials. The Ministry of Employment and Labor ordered a halt to demolition work immediately following the incident. After implementing safety measures to prevent further collapses, the city applied to the labor ministry for permission to resume work and received conditional approval on the afternoon of May 28. Subsequently, emergency demolition began at midnight on May 29. Before the incident, work was conducted only during early morning hours for about three hours each day to avoid disrupting train operations. However, following the collapse, the priority shifted to rapid recovery and the resumption of train services, leading to the use of crushing methods to expedite demolition. To protect the tracks, the city laid steel plates at the site and filled sand to prevent shock from reaching the subway Line 2 tunnel. The slab over the tracks, designated as number 9, and its supporting structure were removed at 4:43 a.m. on May 29, with the last remaining slab, number 8, being demolished by 9:40 p.m. 2026-05-29 22:21:00

SSG Lands in 10-Game Losing Streak After 4-3 Loss to Hanwha The SSG Landers fell to the Hanwha Eagles, plunging into a 10-game losing streak. They are now just one loss away from matching the franchise record for consecutive defeats, which includes their time as the SK Wyverns. On May 29, SSG lost 4-3 in an away game at Hanwha Life Eagles Park in Daejeon. Following a previous loss, this marks SSG's longest losing streak since adopting the SSG name, reaching nine games. With this latest defeat, they now face the prospect of a double-digit losing streak. It has been nearly five years and eight months since SSG last experienced a 10-game losing streak, which occurred in September 2020 during their SK Wyverns era. The franchise's all-time longest losing streak is 11 games, recorded twice in 2000 and 2020. If SSG loses again to Hanwha on May 30, they will tie that record, and a loss on May 31 would set a new franchise record. In contrast, Hanwha secured the victory with two home runs from Heo In-seo and Kang Baek-ho. With this win, Hanwha improved to a .500 record of 25 wins and 25 losses, maintaining their fifth-place standing. The game began as a tight pitching duel. Hanwha's starter Owen White and SSG's starter Choi Min-jun held each other scoreless through the first four innings. Hanwha broke the deadlock in the fifth inning. Lead-off hitter Noh Si-hwan reached base with a hit, and Heo In-seo followed with a two-run homer over the left field wall. This marked Heo's 10th home run of the season, achieving double digits for the first time in his career. SSG quickly responded in the sixth inning. After Park Seong-han hit a double, Jeong Jun-jae drove him in with a single, narrowing the gap to 4-1. However, Hanwha extended their lead later in the inning when Kang Baek-ho hit a two-run homer off reliever Lee Ro-un after a walk to Moon Hyun-bin. SSG mounted another comeback in the seventh inning. With two outs, Choi Ji-hoon hit a triple, and Oh Tae-gon followed with a two-run homer to bring the score to 4-3. However, they could not complete the comeback. Hanwha's Park Sang-won pitched a scoreless eighth inning, and closer Lee Min-woo faced a two-out, two-on situation in the ninth but secured the win by forcing Oh Tae-gon into a groundout to shortstop. This marked Lee's third save of the season. Hanwha's starter White earned his second win of the season, pitching seven innings with four hits, two walks, and three earned runs. SSG's starter Choi Min-jun lasted five innings, allowing four hits and two earned runs while striking out five, but he received no run support, suffering his fourth loss of the season.* This article has been translated by AI. 2026-05-29 21:33:00

Early Voting for Local Elections Hits Record High of 11.6% Early voting for local elections reaches 11.6%, the highest ever The first day of early voting for the 9th nationwide local elections recorded a turnout of 11.6%, the highest since the introduction of early voting. The National Election Commission reported that from 6 a.m. to 6 p.m. on May 29, 518,486 out of 44,649,908 eligible voters cast their ballots. This turnout of 11.60% surpasses the first-day early voting rate of 10.18% from the previous local elections in 2022 by 1.42 percentage points. Since the early voting system was introduced in the 6th local elections in 2014, this is the highest turnout recorded on the first day. The turnout increased steadily throughout the day, starting at 0.5% at 7 a.m., rising to 1.7% by 9 a.m., and reaching 4.86% by noon. In the afternoon, it continued to climb, hitting 8.15% by 3 p.m. and 10.39% by 5 p.m., before closing at 11.60% at 6 p.m. This figure exceeds the early trends from both the 2022 local elections and the 2024 general elections.Police conclude 11-hour search related to fatal construction collapse Authorities have completed an 11-hour search related to the collapse at a construction site in Seoul's Seosomun area that resulted in three fatalities. The Seoul Metropolitan Police Agency and the Ministry of Employment and Labor conducted the search from 9 a.m. to 8 p.m. at seven locations, including the Seoul Urban Infrastructure Headquarters and the main offices of the contractors involved. A total of 53 personnel, including 33 police officers and 20 labor inspectors, were deployed to the scene. The search warrant cited charges of negligent homicide, violations of the Serious Accidents Punishment Act, and breaches of the Occupational Safety and Health Act. Both the primary contractor and subcontractors have been named as suspects in all three charges, while the Seoul city government is currently listed as a witness rather than a suspect.KOSPI surpasses 8400 as National Pension adjusts stock holdings The National Pension Service has raised its target allocation for domestic stocks from 14.9% to 20.8%, reflecting the recent explosive growth in the domestic stock market. On May 29, the KOSPI index reached an all-time high, alleviating fears of a sell-off by the pension fund. This adjustment in asset allocation is backed by the National Pension Service's impressive investment performance. According to preliminary figures released by the fund management division, the pension fund's reserves increased by 68 trillion won to 1,526 trillion won as of the end of the first quarter (March 31). The investment return rate during this period was reported at 4.42% (based on weighted returns).Labor and Industry Ministers clash over corporate excess profits A dispute has emerged between Employment and Labor Minister Kim Young-hoon and Industry Minister Kim Jeong-kwan regarding the issue of corporate excess profits. Minister Kim Young-hoon advocates for using excess profits to address polarization and promote shared growth, while Minister Kim Jeong-kwan emphasizes the need for reinvestment. On May 29, Minister Kim Jeong-kwan stated on social media, "The world is currently in a race to secure leadership in artificial intelligence (AI) investments," highlighting that competing nations are making unprecedented large-scale investments to emerge victorious in the AI era. He added, "Now is a critical time to connect the profits generated by the semiconductor industry to productive reinvestment for the future," stressing the importance of strategically leveraging the AI boom to secure a growth engine for South Korea's industrial leap. He warned that even a single misstep in investment could collapse the industrial ecosystem.NVIDIA CEO Jensen Huang visits Taiwan and South Korea to strengthen ties NVIDIA CEO Jensen Huang is visiting Taiwan and South Korea to directly manage the Asian semiconductor supply chain. In Taiwan, he is solidifying ties with the local semiconductor ecosystem, known as the "brother room," ahead of significant investments and the establishment of a local headquarters. He will then travel to South Korea to hold a second meeting with major corporate leaders. After completing his schedule at the GTC event in Taiwan, Huang is expected to meet with leaders such as Chey Tae-won of SK Group, Chung Eui-sun of Hyundai Motor Group, Koo Kwang-mo of LG Group, and Lee Hae-jin, founder of Naver. This meeting follows their previous gathering at a chicken restaurant in Gangnam, Seoul, last October, where they discussed AI collaboration. The main agenda for this visit is expected to focus on physical AI. NVIDIA is expanding its ecosystem beyond generative AI to include robotics, autonomous driving, smart factories, and manufacturing automation. SK Group is involved in high-bandwidth memory (HBM), Hyundai Motor Group in robotics and autonomous driving, LG Group in automotive and manufacturing AI, and Naver in cloud and AI platforms.* This article has been translated by AI. 2026-05-29 21:27:00

Women Demand Accountability from U.S. Military in Historic Lawsuit Women who claim they were forced into prostitution and had their human rights violated in military base towns in South Korea are calling for accountability from the U.S. military in a landmark damages lawsuit against the South Korean government. According to Yonhap News, the Seoul Central District Court's Civil Division 22, led by Judge Park Jeong-ho, held the first hearing on May 29 for a lawsuit filed by 117 victims seeking damages from the Republic of Korea. The plaintiffs emphasized that this lawsuit is not merely about holding the government accountable for damages. They pointed out that the Supreme Court has already acknowledged the illegality of the government's role in the establishment, management, and operation of military base towns. Therefore, they argue that the court must also investigate how the U.S. military was involved in the prostitution structure in these areas. The plaintiffs' attorney stated, "While the formal defendant is the Republic of Korea, it is essential to clarify how the U.S. military collaborated with the South Korean government to promote prostitution in military base towns. We request a progressive ruling that holds the U.S. military accountable." The attorney explained that under the Status of Forces Agreement (SOFA) and the U.S.-South Korea Mutual Defense Treaty, if U.S. military personnel are found legally responsible, the South Korean government must first provide compensation and can later seek reimbursement from the U.S. military. Based on this, the plaintiffs argue that both the South Korean government's liability and the U.S. military's involvement and responsibility should be revealed during the trial. The elderly victims' decision to appear in court was also highlighted. The attorney remarked, "The plaintiffs have returned to court in the twilight of their lives to share their experiences of victimization. They hope this case will shed light on the responsibilities of authorities in the operation of military base towns." During the hearing, direct testimonies from victims were also presented. One victim, who identified herself as a 'comfort woman' for U.S. soldiers, recounted, "I was taken to a military base town at the age of 16. Many women were brought there without knowing anything at the time." She questioned, "How could such events occur in a place where entry was only allowed with the military's permission, and the U.S. military claim they were unaware? I have lived in fear due to past experiences, but I found the courage to speak out to expose the wrongs of the U.S. military."* This article has been translated by AI. 2026-05-29 21:12:00

S&P: Korea Investment & Securities Has Sufficient Capital to Invest in Coinone Global credit rating agency S&P Global Ratings has assessed that Korea Investment & Securities' investment in Coinone will impose limited financial burdens. The investment amount is not significant compared to Korea Investment & Securities' capital capacity, and the recent upturn in the stock market suggests that the firm has the financial capability to pursue a strategy of expanding into the digital asset sector. In a report released on May 29, S&P stated that Korea Investment & Securities has secured sufficient financial capacity regarding its acquisition of a 20% stake in the domestic cryptocurrency exchange Coinone. S&P noted that the firm’s solid profitability amid the stock market boom this year, combined with Coinone's relatively small size, enables the expansion strategy into the digital asset sector. Korea Investment & Securities previously entered into a strategic equity investment agreement with Coinone, OKX Ventures, and Com2us Holdings. This investment will involve Korea Investment & Securities and OKX Ventures acquiring shares from Coinone's largest shareholder, CEO Cha Myung-hoon, and Com2us Holdings, as well as newly issued shares from Coinone. Following the investment, Korea Investment & Securities and OKX Ventures will each hold a 20% stake, making them joint third-largest shareholders after CEO Cha (30.36%) and Com2us Holdings (24.54%). CEO Cha will retain management control. S&P believes that this investment will not significantly contribute to Korea Investment & Securities' profitability in the short term. However, as the domestic digital asset market is increasingly aligning with regulated finance, it could provide a foundation for Korea Investment & Securities to gain a competitive edge in the market. Specifically, S&P analyzed that the impact on capital adequacy will be minimal. The agency estimates that Korea Investment & Securities' risk-adjusted capital ratio will decline by approximately 7 to 9 basis points as a result of this investment. Over the next two years, the risk-adjusted capital ratio is expected to remain between 8.4% and 9.4%, exceeding S&P's benchmark of 7% for adequate capital and profitability. This investment is viewed as a strategic move in anticipation of the institutionalization of digital assets, including token securities and stablecoins. S&P predicts that cooperation between securities firms and cryptocurrency exchanges will expand, noting that under the recently amended Electronic Securities Act and Capital Markets Act, securities firms will be able to issue and distribute token securities starting in 2027, creating a strategic collaboration structure supported by cryptocurrency exchanges. Korea Investment & Securities also plans to leverage Coinone's blockchain technology to enhance its digital asset business. Coinone aims to improve transaction stability and business scalability by utilizing Korea Investment & Securities' internal controls and risk management capabilities, along with OKX's global cryptocurrency infrastructure.* This article has been translated by AI. 2026-05-29 21:03:00

High Demand for Public Housing in Wangseok 2 District with 126.8:1 Competition Rate In the Wangseok 2 District of Namyangju, Gyeonggi Province, the first public housing subscription for the A-1 and A-3 blocks closed with triple-digit competition rates. According to the Korea Land and Housing Corporation (LH) on May 29, the general subscription for the A-3 block attracted 20,671 applicants for 163 units, resulting in an average competition rate of 126.8 to 1. Among the housing types, the 59㎡ A-type saw the most intense competition, with 6,066 applicants vying for 14 units, leading to a staggering competition rate of 433.3 to 1. Winners for the A-3 block will be announced on June 15. Contracts will be conducted electronically from August 24 to 25, followed by on-site contracts on August 27 and 28. The A-1 block, developed by Kumho Construction under the public-private partnership project 'Wangseok Atera,' also experienced high demand. In the general subscription that closed the previous day, 22,525 applicants competed for 223 units, resulting in an average competition rate of 105.5 to 1. The 59㎡ A-type in the A-1 block recorded the highest competition rate, with 8,659 applicants for 22 units, reaching a competition rate of 393.6 to 1. The announcement for the A-1 block winners is set for June 12, with the official contract period scheduled from August 10 to 14.* This article has been translated by AI. 2026-05-29 21:03:00

Three Dead in Seosomun Overpass Collapse; Police Complete 11-Hour Search Authorities have concluded an 11-hour search of the Seoul city government and construction companies involved in the Seosomun overpass collapse that resulted in three fatalities. According to Yonhap News, the Seoul Metropolitan Police Agency's special investigation unit and the Ministry of Employment and Labor's southern Seoul office conducted the search from 9 a.m. to 8 p.m. on May 29, targeting seven locations, including the Seoul Infrastructure Headquarters and the headquarters of the main and subcontractors. A total of 53 personnel, including 33 police officers and 20 labor inspectors, were involved in the operation. The search warrant cited charges of negligent homicide, violations of the Serious Accident Punishment Act, and breaches of industrial safety and health laws. Both the main contractor and subcontractors have been named as suspects in all three allegations. However, the Seoul city government is currently listed as a witness rather than a suspect. Police secured relevant documents, including structural design plans and safety management reports, during the search. Investigators plan to focus on whether the dismantling of the overpass was conducted according to the design and safety protocols and whether proper safety inspections and work directives were followed. The incident occurred on May 26 at 2:32 p.m. during the demolition of the Seosomun overpass in the Migeun-dong area of Seodaemun District. Three people died, and three others were injured when a structural component sank approximately 2.9 centimeters during slab cutting, leading to the collapse during a safety inspection. The police established a dedicated investigation team of 50 personnel the day before, while the labor ministry formed a 15-member team to assist in the investigation. A police official stated, "We will thoroughly analyze the secured documents to clarify the cause of the accident and determine accountability." The labor ministry also indicated that it would rigorously investigate work directives, methods, and safety management systems, pledging to hold accountable anyone found in violation of relevant laws.* This article has been translated by AI. 2026-05-29 20:27:00