Stories from South Korea

Bitcoin reached a new high on local exchanges, according to a Korean news report. No specific price or exchange was named. This surge is attributed to institutional investment, accelerating its rally. This rally indicates strong investor interest in the cryptocurrency.

Minister Kim stated that social dialogue is the only solution for distributing excess profits from large corporations. The Deputy Prime Minister and Minister of Finance and Economy made these remarks.

South Korea's exports surged to a record $87.75 billion in May, a 53% increase year-on-year. This growth surpassed market expectations due to robust global demand. South Korea's exports in May surged 53.2% year-on-year, reaching $87.75 billion, surpassing market forecasts.

Artificial intelligence usage has increased to 44.5%, but only 7.9% of users have opted for paid subscriptions. AI adoption is increasing, but paid subscription growth is lagging behind. Generative AI usage has surged to 44.5%, but paid subscriptions remain low at 7.9%.

JP Morgan is reportedly pursuing another round of shipbuilding contracts. The company is expanding its shipping fleet with new contracts valued at $662 million. These contracts are with Samsung Heavy Industries.

BIAMETRICS has received an award from the Ministry of Science and ICT for its achievements in industrial AI.

AGTech Holdings Limited's market capitalization reached $855.4 million as of May 31, 2026.

J Lee, the eldest son of Samsung's founder and its de facto leader, has been sentenced to prison for bribery. His sentence was cut from five years to two. The appeals court reduced J Y Lee's sentence from five years to two and a half years. The court also added two years to his sentence in October. South Korea's top court has issued a major judgment clearing J.Y. Lee, potentially paving the way for him to take a leadership role at Samsung. The court found insufficient evidence for previous charges related to stock manipulation and undervaluation. Lee has reportedly secured the top job at Samsung Electronics. This ruling allows Lee to focus on his leadership role. This allows Lee to fully focus on running the family firm. The court's decision could have implications for the future leadership of the Samsung conglomerate.

LG Uplus and IBK System have partnered to develop specialized AI financial services. This collaboration aims to enhance financial technology offerings in the digital era. The partnership was announced alongside discussions on China's draft financial law.

Tens of millions of dollars are being scrutinized from South Korean businesses. Lee guilty on multiple counts, including wire fraud, and sentenced him to five years in prison. J Y Lee, a former president, has been found guilty by judges who agreed with the prosecution's case. He was sentenced to five years in prison, with the sentence not suspended at this time. The executive was released from prison and had previously been saved by his father twice. This follows a prison term received months after his mother's funeral. The verdict was delivered after a trial in South Korea. The court sentenced Lee to five years in prison for actions including offering favors and gifts to influence decisions. The specific company and the details of the bribery case were not disclosed.