Jung Won-oh Criticizes Oh Se-hoon on Safety Issues at Guui Station Jung Won-oh, the Democratic Party's candidate for Seoul mayor, intensified his criticism of Oh Se-hoon, the candidate from the People Power Party, on safety issues during his campaign on May 22. He highlighted the recent construction flaws at Samsung Station on the GTX-A line as a key concern. Jung began his day by attending a memorial event for the 10th anniversary of the Guui Station industrial accident in Gwangjin-gu, Seoul. He referenced the recently passed Life Safety Basic Act in the National Assembly, stating, "We will establish a Seoul City Life Safety Committee to protect citizens' fundamental right to safety." He also questioned Oh's absence from the memorial, asking, "I wonder why you did not participate in such an important agreement." Continuing his attack on Oh, Jung raised concerns about the ongoing issues during Oh's tenure as mayor, saying, "Don’t you wonder why there have been major safety incidents and fatalities during Oh Se-hoon's administration? This is not a coincidence; it is a structural problem created by a lack of safety awareness." In response to Oh's proposal for a public debate, Jung remarked, "It seems that Oh tries to deflect responsibility for his mistakes by politicizing them. He should visit the Samsung Station site to see the issues firsthand and devise solutions." Throughout the day, Jung campaigned in northern districts like Jungnang and Nowon, emphasizing his real estate policies and local pledges. He stated, "If there have been housing difficulties during your five years as mayor, you should apologize instead of blaming your predecessor. You are unqualified; we need change." He also criticized the decline in Seoul's gross regional domestic product (GRDP), asserting, "Shouldn’t we replace a mayor who cannot stimulate economic vitality?" He promised that if elected, he would transform Seoul into a vibrant economic city like Seongdong-gu. Jung pledged to issue 100 billion won in local currency, the Jungnang Love Gift Certificate, expedite the construction of the Myeonmok Line, and ensure timely completion of the GTX-B line. In Nowon-gu, he promised to support the timely opening of the Dongbuk Line and the bio-industry belt at Changdong Station. Regarding reconstruction and redevelopment, he stated, "We will assist associations in making swift decisions and streamline administrative procedures to ensure that reconstruction and redevelopment proceed quickly and safely."* This article has been translated by AI. 2026-05-23 19:44:13

Candidates Present Plans for Gyeongnam Governor in TV Debate In a televised debate ahead of the June 3 local elections, Gyeongnam Governor candidates Kim Kyung-soo of the Democratic Party, Park Wan-soo of the People Power Party, and Jeon Hee-young of the Progressive Party outlined their visions for the region's development while also engaging in negative campaigning over military service and hiring favoritism allegations. The candidates participated in the debate held at Gyeongnam MBC on May 22, emphasizing the need for cooperation with the central government, consistent policies, and the dismantling of factional politics to garner support. Kim stated, "The current crisis cannot be overcome by Gyeongnam alone. We must work together with the central government," challenging Park by asking, "How can a governor who fights against the central government overcome a crisis?" Park responded, "I was born and raised in Gyeongnam and know it better than anyone. I have worked solely for the residents of Gyeongnam. Currently, Gyeongnam leads in all economic, population, and living indicators." Jeon added, "Labor rights must be guaranteed, and the rights to life and survival must be protected. I will end the era of impoverished residents. Gyeongnam needs new figures for new politics." When asked how they would share benefits from the Jinhae New Port and the Gadeok New Airport with Busan, the candidates provided differing responses. Jeon emphasized the need for careful examination of whether these projects would genuinely improve residents' lives, citing the climate crisis and marine ecosystem as critical issues. Park outlined his vision for maximizing Gyeongnam's development, which includes expanding transportation infrastructure, increasing industrial institutions, broadening free economic zones to attract businesses, and fostering international business. Kim asserted, "The new port should be developed into a core of high-value-added logistics integrated with manufacturing, which also requires cooperation with the central government." In response to another common question about securing stable water resources, all three candidates agreed on the need to improve the Nakdong River's water quality. The debate saw intense exchanges, particularly between Kim and Park. Park criticized Kim for the 'Druking incident,' stating, "As a result of stepping down during his term, Gyeongnam's economic growth rate fell to the lowest. His pledge fulfillment rate is also the lowest." In defense, Kim countered, "I facilitated the exemption of the KTX preliminary feasibility study, passed the special law for Gadeok New Airport, advanced the national project for smart industrial complexes, and established the current defense industry framework. During your term, the delinquency rate of corporate loans tripled, and industrial household income ranked 15th out of 17 cities and provinces." Park then raised concerns about Kim's alleged increase in assets amounting to approximately 1.1 billion won during his imprisonment and questioned his military service. Kim responded, "That property was inherited after my father-in-law's passing, and the military service issue was handled according to regulations." Kim also challenged Park regarding allegations of hiring favoritism involving his nephew during his tenure as CEO of Incheon International Airport. He noted that the Board of Audit and Inspection stated there was 'reasonable suspicion' regarding Park's involvement in hiring during his time as mayor of Changwon and as Gyeongnam governor. In response, Park maintained, "All hiring was conducted through legal and proper procedures, and investigations concluded there were no issues."* This article has been translated by AI. 2026-05-23 19:42:00

Park Geun-hye to Support Daegu Mayor Candidate Choo Kyung-ho Former President Park Geun-hye is set to support Choo Kyung-ho, the People Power Party candidate for mayor of Daegu, ahead of the June 3 local elections. With recent polls showing a tight race against Democratic Party candidate Kim Boo-kyum, Park's public appearances are expected to rally conservative voters. According to the People Power Party, Park will visit Chilseong Market in northern Daegu with Choo on May 23 at 2 p.m. They plan to campaign together for about 30 minutes, aiming to bolster support. Dalseong County, where Park's residence is located, is also where she served as a four-term lawmaker, while Choo has represented the area as a three-term lawmaker. Choo previously visited Park's residence on May 4 to seek her assistance. Although there was no mention of campaign support at that time, it is believed that the recent close polling has prompted efforts to consolidate conservative backing. A political insider noted, "I understand that former President Park's health does not pose significant issues for her to engage in public activities. If she appears at campaign events, it could greatly enhance conservative unity and have a ripple effect on her supporters." Meanwhile, Kim Boo-kyum has expressed a desire to meet with Park on several occasions, but no meeting has yet taken place.* This article has been translated by AI. 2026-05-23 19:39:20

U.S. SM-6 Long-Range Naval Missile to Be Deployed by 2034 The Defense Acquisition Program Administration (DAPA) announced on May 22 that it has finalized plans to purchase the U.S.-made SM-6 long-range naval surface-to-air missile for deployment on Aegis destroyers (KDX-III). On the same day, DAPA held the 175th Defense Acquisition Promotion Committee meeting in Yongsan, Seoul, where it reviewed and approved the decision on the SM-6 missile procurement. The SM-6 missile project aims to acquire these missiles through the Foreign Military Sales (FMS) program for installation on the second batch of KDX-III Aegis destroyers, known as the Jeongjo Daewang class. DAPA stated, "We expect that the Aegis destroyers will enhance their air defense capabilities against anti-ship ballistic missiles, aircraft, and cruise missiles, as well as their response capabilities against ballistic missiles." The total project cost is approximately 530 billion won, with the project timeline extending from 2023 to 2034. A DAPA official noted, "The deployment is expected to be completed by 2034." The SM-6, often referred to as the 'Sea Patriot,' boasts a range of over 400 kilometers and features an active guidance system that allows the missile to track targets using its own radar, significantly enhancing the ship's ability to engage multiple threats simultaneously. Classified as a terminal-phase intercept missile with an interception altitude below 36 kilometers, the SM-6 can target aircraft, ballistic missiles, and cruise missiles. Additionally, the committee approved the basic development plan for the Military Satellite Communication System III. This initiative aims to secure military-exclusive geostationary communication satellites and ground control and terminal equipment through research and development led by the Agency for Defense Development, ensuring stable military satellite communication capabilities. By operationalizing the Military Satellite Communication System III satellites before the existing satellites reach the end of their missions and replacing aging ground systems, the project aims to improve communication capacity and domestic production of key components, thereby enhancing military operational capabilities and ensuring reliable command and control. The project is set to run until 2032, with a total budget of approximately 1.27 trillion won.* This article has been translated by AI. 2026-05-23 19:36:58

Why the Seoul Election Race is Tightening Again Assessing public sentiment in Seoul is always challenging. The city serves as a microcosm of South Korean politics, yet it does not always follow national trends. While it can be a barometer for presidential elections, local elections tend to be surprisingly pragmatic. Voters prioritize practical governance over ideology and administrative promises over slogans. This makes predicting the outcome of the Seoul mayoral election particularly difficult. A poll released on May 22, just 18 days before the June 3 local elections, highlights this characteristic of Seoul. Conducted by ResearchWell for New Daily from May 20 to 21, the survey of 977 adult residents in Seoul showed that Oh Se-hoon of the People Power Party garnered 44.8% support, while Jung Won-o of the Democratic Party received 42.0%. The margin of just 2.8 percentage points falls within the margin of error of ±3.1 percentage points, indicating a very tight race. However, in politics, the shift in momentum can be more significant than the numbers themselves. What factors are influencing public sentiment in Seoul? First, central political dynamics play a crucial role. Seoul is more affected by national politics than any other city in the country. Expectations for the president and government often reflect in local elections, but political controversies and fatigue can also quickly sway public opinion. Since the new administration took office, ongoing political issues and disputes may have led some voters to believe that the next mayor should be someone capable of effectively managing the city. While it is difficult to pinpoint a single issue that has shifted the race, the tension in national politics undeniably casts a shadow over the mayoral election. Second, evaluations of the candidates themselves are significant. Jung Won-o remains strong among voters in their 40s and 50s, maintaining the Democratic Party's traditional support base. However, recent surveys indicate that a notable number of respondents feel he needs to provide further clarification regarding past allegations of violence, a signal that cannot be easily dismissed politically. In elections, moderate voters often react more sensitively to unresolved questions than to policy proposals. Regardless of the truth, how convincingly candidates address these concerns can significantly impact voter decisions. Conversely, Oh Se-hoon benefits from the advantages of being the incumbent mayor and his administrative experience. Seoul is a vast urban center where issues such as transportation, housing, redevelopment, safety, and welfare directly affect citizens' lives. In such a city, the question of who can manage the administration most effectively often outweighs ideological considerations. The relative strength of Oh among voters in their 20s and 30s, as well as those over 70, appears to reflect this trend. Nevertheless, the most critical factor remains that it is still too early to determine the outcome. The final week of the Seoul mayoral election is always decisive. There are more undecided voters than anticipated, and a single televised debate can shift the atmosphere. As fatigue from negative campaigning grows, there is a possibility that quiet voters may become more active. What is clear is that this election does not favor any single candidate. The public sentiment in Seoul is carefully weighing the options presented by the candidates. Historically, Seoul voters have chosen practical governance over ideology and competence over rhetoric. In the end, citizens will ask themselves, "Who can be entrusted with the future of Seoul for the next four years?" as they cast their votes. Thus, the Seoul election is not over until it is officially concluded.* This article has been translated by AI. 2026-05-23 19:34:19

LG to Burn All Remaining Treasury Shares Worth 350 Billion Won LG has announced plans to burn all of its remaining treasury shares to enhance shareholder value. This follows the company’s decision last year to burn half of its treasury shares, as it accelerates its shareholder return initiatives. On May 22, LG disclosed that it will burn 3,029,581 common shares, which represents 1.96% of its total issued shares. Based on the closing price on that day, the total value of the shares is approximately 350 billion won. The book value, calculated at an average acquisition price of 82,520 won per share, amounts to about 250 billion won. The scheduled date for the share burn is May 28. Previously, LG had burned half of its treasury shares (6,059,161 shares) last year. As one of South Korea's major conglomerates, LG is proactively reinforcing its shareholder return policy. At its regular shareholders' meeting in March, the company announced it would maintain a dividend of 3,100 won per common share. Looking ahead, LG plans to actively use a portion of excess funds, excluding dividends and investment resources from temporary large profits or regular earnings, for share buybacks. Last year, LG raised the lower limit of its dividend payout ratio from 50% to 60% based on adjusted net income. Consequently, the dividend payout ratio for 2025 reached 68%, meeting the criteria for high-dividend corporate tax separation. As a result, the average dividend payout ratio over the past five years has remained high at around 69%. In the long term, LG aims to increase its return on equity (ROE) to between 8% and 10% by 2027.* This article has been translated by AI. 2026-05-23 19:31:39

Democratic Party Targets Voter Support in Chungbuk and Gangwon Regions The Democratic Party intensified its campaign efforts in Chungbuk and Gangwon provinces on May 22, the second day of the official election period for the June 3 local elections. This push comes after the opposition People Power Party won control of local governments in these regions during the last election. Jung Cheong-rae, the party's chief election strategist, is focusing on regaining voter support. The campaign kicked off in the morning with greetings at the SK Hynix Cheongju campus, where Jung, along with Shin Yong-han, the candidate for Chungbuk governor, and Lee Jang-seop, the candidate for Cheongju mayor, shook hands and took photos with commuters. Later, Jung visited Chungju Public Market, where he promised full support for Shin and Maeng Jeong-seop, the candidate for Chungju mayor, alongside former Chungbuk governor Lee Si-jong, who is now a campaign committee member. "For Chungbuk to develop, we need a Democratic president, a Democratic governor, and Democratic lawmakers," Jung stated. He added that a pledge implementation team would be formed around Chungbuk lawmakers to ensure that candidates' promises serve the public interest. Jung emphasized that Shin and Maeng are the best candidates to significantly advance Chungbuk and Chungju, pledging that the Democratic Party would fully support their efforts. He highlighted key promises, including the swift establishment of a civilian runway at Cheongju International Airport and the development of a national railway network along the Gangho axis. After concluding the campaign in Chungbuk, Jung traveled to Gangwon in the afternoon to support Woo Sang-ho, the candidate for Gangwon governor. In Gangneung, Jung urged support for Woo and Kim Jung-nam, the candidate for Gangneung mayor, stating, "The Democratic Party and the Lee Jae-myung administration have focused heavily on Gangwon. We will lead the necessary laws and budgets to ensure that your needs are met promptly." Jung also praised Woo's background as the first chief of staff under the Lee Jae-myung administration, saying, "He is someone who can communicate directly with the president. He is not just a well-known name; he is a capable candidate who can truly make a difference." Additionally, Jung and Woo visited Donghae and Samcheok to support candidates Lee Jeong-hak and Lee Jeong-hoon, wrapping up the second day of their campaign activities.* This article has been translated by AI. 2026-05-23 19:30:00

Weather Forecast: Rain Expected Across Most of the Country on Saturday On May 23, overcast skies will prevail nationwide, with rain expected in most areas. Dense fog is anticipated in the mountainous regions of Gangwon and some inland areas, prompting caution for traffic safety. According to the Korea Meteorological Administration, rain will begin in Busan, Ulsan, and the eastern coast of North Gyeongsang Province from early morning until the afternoon, spreading to most of the country except for the eastern coast of Gangwon. Expected rainfall amounts are less than 5 mm in Seoul, Incheon, Gyeonggi Province, inland and mountainous areas of Gangwon, Chungcheong, Jeolla, Gyeongsang, and Jeju Island, while the five western islands may see 5 to 10 mm. The weather agency advised that roads may become slippery and visibility could be reduced in areas experiencing rain, urging drivers to maintain a safe distance and reduce speed. In the mountainous regions of Gangwon, visibility may drop below 200 meters due to dense fog, while inland areas of Jeolla are expected to see visibility under 1 kilometer. Maritime conditions are also expected to be poor. Thunderstorms and gusty winds may occur, particularly over the Yellow Sea, where dense sea fog is likely. On the eastern coast, high waves may wash over breakwaters and sandy beaches due to swells, necessitating extra caution for coastal safety. Morning low temperatures are forecasted to range from 10 to 16 degrees Celsius, with daytime highs expected between 18 and 24 degrees. Key morning low temperatures include: △Seoul 15 degrees △Incheon 15 degrees △Suwon 14 degrees △Chuncheon 12 degrees △Gangneung 13 degrees △Cheongju 14 degrees △Daejeon 14 degrees △Jeonju 14 degrees △Gwangju 14 degrees △Daegu 14 degrees △Busan 16 degrees △Jeju 17 degrees. Daytime highs are expected to be: △Seoul 24 degrees △Incheon 23 degrees △Suwon 23 degrees △Chuncheon 23 degrees △Gangneung 20 degrees △Cheongju 24 degrees △Daejeon 24 degrees △Jeonju 25 degrees △Gwangju 24 degrees △Daegu 22 degrees △Busan 21 degrees △Jeju 22 degrees. Air quality is expected to be rated 'good' across all regions.* This article has been translated by AI. 2026-05-23 19:27:24

Huons to Absorb Subsidiary Huons Life Science in Merger Huons plans to absorb its wholly-owned subsidiary, Huons Life Science, in a merger. The company is moving forward with the process, relying solely on board approval without holding a separate shareholders' meeting. On May 22, Huons announced that its board of directors had completed the resolution for the small-scale merger with Huons Life Science. During the period for shareholders to express dissent, only 59,403 shares were opposed, representing about 0.5% of the total issued shares. This falls below the 20% threshold required by law to block a small-scale merger, allowing the board's approval to substitute for a shareholders' meeting. The merger involves Huons absorbing its 100% owned subsidiary without issuing new shares, resulting in a merger ratio of 1 to 0. Under the small-scale merger procedure, shareholders will not be granted the right to request stock buybacks, and there will be no dilution of existing shareholders' stakes. Market analysts interpret this announcement as more than just a simple consolidation of subsidiaries. Typically, the absorption of a wholly-owned subsidiary aims to eliminate redundant costs, unify research and development and business organizations, and simplify governance structures. The final merger date is set for June 23. Huons had previously disclosed its plan for the small-scale merger on April 22.* This article has been translated by AI. 2026-05-23 19:24:43

Samsung Electronics and SK Hynix Leverage ETFs Set to Launch The domestic exchange-traded fund (ETF) market is witnessing intense competition as the first single-stock leverage products are set to debut. The "Samsung Electronics and SK Hynix Leverage" ETFs will be listed on May 27, with most asset management firms offering the lowest total fees in the industry, leading to a lack of differentiation among the products from an investor's perspective. According to the financial investment industry on May 22, among the eight asset management firms launching single-stock leverage ETFs, Mirae Asset, Korea Investment Trust, KB, Hanwha, and Hana Asset Management have set their total fees at an annual rate of 0.0901%. Initially, Mirae Asset Management started the competition by advertising the "lowest fee in the industry," but competitors quickly followed suit by lowering their fees to match this rate. On May 21, Hanwha Asset Management reduced the total fee for its Samsung Electronics leverage ETF from 0.10% to 0.0901%. On May 22, KB Asset Management, Hana Asset Management, and Korea Investment Trust also adjusted their fees from 0.0910% to 0.0901%. Single-stock leverage ETFs are designed to track the daily returns of specific stocks at double the rate. Given that these products are based on the same underlying assets, it is challenging to differentiate them in terms of structure or returns, making total fees the primary competitive factor. However, with major asset managers uniformly offering the lowest fees, analysts predict that investors may not perceive significant differences between the products. In contrast, Samsung Asset Management has opted for a relatively higher total fee of 0.29%. This strategy is interpreted as a move to leverage the market dominance of its leading leverage ETF brand, "KODEX." Kiwoom Investment Management has set its fee at 0.25%, while Shinhan Asset Management has established a fee of 0.10%. Hanwha Asset Management applies the 0.0901% fee to its Samsung Electronics leverage product but has set a higher fee of 0.49% for its inverse 2X product, indicating a differentiated strategy. In terms of asset size, Samsung Asset Management is taking a more aggressive approach. It has established trust principal amounts of 1.0665 trillion won for the KODEX Samsung Electronics single-stock leverage and 1.3665 trillion won for the KODEX SK Hynix single-stock leverage, totaling over 2 trillion won for both products. The total trust principal amount for the ETFs being launched is approximately 4.1227 trillion won. The issue price for all products has been standardized at 20,000 won. Given the high volatility associated with single-stock leverage products, there are concerns that excessively low prices could widen the spread relative to the minimum tick size, complicating market management. However, financial authorities have repeatedly warned about the investment risks. Single-stock leverage and inverse products exhibit greater volatility than regular stocks and have much larger price fluctuations compared to index-based leverage ETFs like KOSPI 200, making them unsuitable for anything other than short-term investment purposes. A significant risk factor is the "negative compounding effect" that can occur during repeated fluctuations. For instance, even if the underlying stock price remains stable over a long period, the structure of tracking daily returns at double the rate can lead to a continuous decline in the ETF price. Investors should also be aware that imbalances in supply and demand can lead to discrepancies between the actual net asset value (NAV) and market prices. While arbitrage typically normalizes these discrepancies over time, trading during periods of significant divergence can result in unexpected losses. To address investment risks, the barriers to entry for investors have been raised. To invest in single-stock leverage and inverse ETFs, a minimum deposit of 10 million won is required, along with completion of a two-hour pre-education course provided by the Financial Investment Association. The association has established a dedicated training program for single-stock leverage and inverse products ahead of their launch. Industry insiders believe that investors will choose between "ultra-low fees" and "liquidity." A financial investment industry official stated, "Aside from total fees, the differences in products that investors can perceive are minimal. Ultimately, the key variable will be whether they prioritize lower fees or liquidity in their selection."* This article has been translated by AI. 2026-05-23 19:22:37