Society
- The government plans to conduct a survey among residents of the first new towns entering reconstruction and devise a relocation plan based on the survey results.
- A police officer who was dismissed for inadequately responding to the 2021 ‘Incheon Knife Incident’ filed a lawsuit but lost in the second trial as well.
- A tragic accident occurred in Muan County, South Jeolla Province, where an SUV fell into the sea from a pier, resulting in the deaths of a 70-year-old mother and her 50-year-old son.
- A third-grade student at an elementary school in Jeonju, who previously sparked controversy for slapping the vice-principal, was handed over to the police for stealing a bicycle.
- A so-called ‘MZ gang’, involved in illegal lending with annual interest rates exceeding 1,000% and engaging in extortion and threats, was sentenced to imprisonment.
- Starting next month, the national pension insurance premiums for employees earning over 5.9 million won per month will be increased.
Economy
- Korea Investment & Securities has raised its target price for SK Hynix, citing sustained dominance in the high-bandwidth memory (HBM) market and improved profitability in NAND.
- LS Securities has maintained a ‘buy’ rating and target price for LG Electronics, noting continuous profitability despite a downturn in demand.
- The number of individuals subject to the comprehensive real estate tax on residential properties has dropped by over 99% in one year.
- This year, South Korea’s exports to the United States have surpassed its exports to China.
- The proportion of first-time homebuyers in their 30s is increasing, with those born in the 1990s emerging as major purchasers in the real estate market.
- Following the decision by Seoul National University Medical School professors to go on a collective strike starting on the 17th, the Korean Medical Association (KMA) has announced a collective strike and general rally on the 18th.
Culture
- A low-calorie seasoning powder with a ‘kimchi flavor’ has been released.
- CJ Freshway reported that sales of snacks for children and adolescents have grown at an annual average rate of 31% over the past three years.
International
- A case in the United States where a Mexican indigenous man was institutionalized for over ten years for ‘speaking incomprehensibly’ is being revisited.
- French investment firm Archimed Group is planning a public tender offer worth 724.4 billion won for JCS Med, a KOSDAQ-listed domestic beauty and medical device company.
- French President Emmanuel Macron, anticipating a crushing defeat to far-right parties in the European Parliament elections, announced plans to dissolve the parliament and hold early general elections.
- The European Parliament election results show centrists barely holding their positions, while far-right parties have made significant gains.
- William D. Magwood IV, Director-General of the OECD Nuclear Energy Agency, emphasized the necessity of nuclear power to address the intermittency issues of renewable energy.