Stories from Seoul · South Korea

The Seoul High Court has established a specialized tribunal to handle insurrection-related trials. This tribunal will preside over cases involving former President Yoon and Kim Keon-hee, as well as accomplices including former Minister Kim.

An appellate court ruled that a Chanel bag received by Kim Keon-hee was part of a solicitation. A Seoul High Court judge ruled that a Chanel bag was provided to Kim as part of a solicitation process.

The Korean Film Council's quarterly report indicates the industry has achieved its strongest opening period in five years. One distributor reportedly secured the majority of the market share.

South Korean groups BTS and Tomorrow X Together reached third and fourth place on the Billboard charts this week. Tomorrow X Together released their eighth mini-album as part of their chart performance. The groups' success reflects the ongoing global influence of K-pop.

South Korea's Fair Trade Commission has designated Coupang Chairman Kim Beom-suk as the controlling person of the business group. The decision follows findings that he exercised practical management authority over major business operations. As a result, Kim and his relatives within the third and fourth degree of kinship must disclose their stock holdings and transaction history. The measure aims to address issues regarding private interests and executive treatment levels. Chairman Kim Bom-suk as a controlling person. Under this designation, Kim and his relatives up to the fourth degree of consanguinity and third degree of affinity must disclose stock holdings and transaction details. Coupang Inc. issued a statement claiming the company maintains a transparent structure and denied concerns regarding private interest misappropriation.

A group of men in their 30s committed thefts across 22 cities and counties in South Korea within less than one month. This figure represents a 0.07 percentage point increase from the previous year. The employment rate for persons with disabilities in the public sector and government agencies has reached 3.1 percent for the first time. Total disability employment across both private and public sectors increased by 1,192 people last year. Private companies accounted for 9,507 of these new hires, leading the expansion in employment. South Korea's stock market has become the eighth largest in the world, surpassing the United Kingdom. The growth follows a rally in AI-linked technology companies, specifically mentioning SK Hynix and Samsung Electronics. Meanwhile, Japan's Nikkei 225 fell 1%, while Shanghai rose 0.4% and Hong Kong's Hang Seng rose 1.4%.

The Korea Occupational Safety and Health Agency found that 60% of smart safety equipment provided by the government is not being used properly.

The Samsung family's wealth reached $45.5 billion, or approximately 67 trillion won, as of March, according to the Bloomberg Billionaires Index. This figure represents a more than 2.2-fold increase compared to one year ago. The family's ranking among Asia's wealthiest has risen from 12th to 3rd place. The report noted this growth in assets. The retail company Shinsegae is related to the Samsung family, being the youngest daughter of Samsung founder Lee Byung-chul. Under her management in the 1980s and 1990s, Shinsegae department store sales ranked first in South Korea. Lotte Group, founded by the daughter of Shinsegae's competitor, entered the market and competed with Shinsegae. Lotte Group's founder and Shinsegae's chairwoman, Lee Myung-hee, were university classmates.

Delinquency rates for real estate and rental businesses at IBK, a bank specializing in small and medium-sized enterprises, reached their highest level in 13 years. This increase occurs amid a real estate market downturn and rising interest rates.

A Korean securities firm has downgraded its investment opinion on SK Hynix. The move comes as pension funds begin adjusting their holdings in the surging semiconductor stock. This follows concerns regarding the profitability of OpenAI affecting the New York stock market.