Photo : Korea Times

South Korea’s firms are behind US firms in profit margins, reports an editorial in  Korea Times

Korea Reader Daily Wire | 31 May 2025, Saturday | Vol.2 No. 111
South Korea’s firms are behind US firms in profit margins, reports an editorial in  Korea Times
On 31 May, the Korean Times reported that South Korea’s top 10 listed companies are lagging significantly behind US peers in profit margins. Despite massive revenues, these Korean firms show much lower profitability, with operating margins averaging under 10 per cent, compared to 30–40 per cent for leading US tech companies like Apple and Microsoft. Samsung Electronics, for example, has seen its operating margin drop sharply to around 3 per cent. Analysts point to Korea’s heavy reliance on hardware manufacturing and lack of diversification into high-margin services as key challenges. One industry expert stated, “To overcome the persistent ‘Korea discount,’ companies must aggressively pivot towards innovation-driven sectors such as secondary batteries, biotechnology, and digital services.” The report also highlights that while some sectors like automotive and biotech show promise, they haven’t yet offset losses from core areas like semiconductors. The Korea Times emphasises that without strategic restructuring and investment in emerging technologies, South Korea’s biggest firms risk falling further behind their global counterparts in profitability and competitiveness. To close the profitability gap with US giants, Korean companies must diversify beyond traditional hardware and embrace high-value innovation sectors. This shift is crucial for sustained growth and global competitiveness. (“Top 10 Korean listed companies lag far behind US peers in profit margins,” The Korean Times, 31 May 2025)

China installs three large-scale buoys in waters disputed with South Korea
On 31 May, China installed three additional large-scale buoys in waters disputed with South Korea, escalating tensions over overlapping maritime claims. This move brings the total number of such buoys to 15, according to South Korean officials. The buoys are reportedly placed in areas near the South Korean-controlled Ieodo reef, which is also claimed by China. Beijing asserts that the installations are for scientific research purposes, but Seoul views them as a violation of its sovereignty and a provocative act. The South Korean government has lodged a formal protest, urging China to remove the buoys and halt similar activities. The incident highlights ongoing maritime disputes in the region, with both nations asserting territorial rights over the contested waters. China's installation of additional buoys in disputed waters intensifies maritime tensions with South Korea, underscoring the need for diplomatic dialogue to address overlapping territorial claims. (“China installs 3 more buoys near overlapping waters with Korea,” The Korean Times, 31 May 2025)
 
Korea Reader Daily Wire | 30 May 2025, Friday | Vol.2 No. 110
North Korea’s major supply of ammunition to Russia, reports the MSM
On 30 May, the Multilateral Sanctions Monitoring Team reported that North Korea has sent Russia around 9 million rounds of ammunition, 100 ballistic missiles, and military gear in 20,000 cargo containers, violating UN sanctions. This support has increased Russian attacks on Ukrainian civilians. A new multilateral report states that Russia is helping North Korea improve its missile guidance by sharing battlefield data. Moscow has also sent air defence and electronic warfare systems to Pyongyang. In April, both countries confirmed that North Korean troops are fighting for Russia in Ukraine. Russia’s intelligence agency, SVR, has claimed that Serbian weapons are reaching Ukraine through countries like the Czech Republic, Poland, and Bulgaria, even though Russia sees Serbia as a close ally. Serbia’s President Aleksandar Vucic stated that he had a word with Vladimir Putin and agreed to create a working group. Vucic explained that Serbia follows its policies and must support its defence industry, which employs about 24,000 people. He added that once weapons are sold, their final use is not Serbia’s responsibility. At the UN, the US pushed a 30-day ceasefire, urging Russia to submit peace terms. US Ambassador John Kelley stated that Russia must submit its memorandum for peace talks, but is delaying, demanding another meeting with Ukraine. He warned that Russia’s recent attacks show no intent for peace, and further sanctions remain possible. Ukraine’s President Zelenskyy called it “another deception,” suspecting Russia’s terms are unrealistic. Turkey's President ErdoÄŸan urged both sides to continue dialogue, ahead of the next planned talks on 2 June in Turkey. (Warren Murray, “Ukraine war briefing: Flood of North Korean arms to Russia, say US, Japan and others,” The Guardian, 30 May 2025)
 
One in four cast their votes in South Korea’s presidential elections
On 30 May, the National Election Commission reported that more than 10 million voters had already cast their ballots in early voting ahead of South Korea’s 3 June presidential election. This represents a turnout of 24.55 per cent as of the second and final day of early voting, which is a record high since the system’s introduction in 2014. The election follows a period of political instability after former President Yoon Suk Yeol’s controversial and failed attempt to declare martial law. About 44.3 million voters are eligible to vote in the election. Democratic Party candidate Lee Jae-myung is leading the polls with 49.2 per cent, trailed by People Power Party candidate Kim Moon-soo at 36.8 per cent, and New Reform Party candidate Lee Jun-seok at 10.3 per cent. Both major candidates intensified campaign efforts in battleground provinces they previously lost in 2022. (Yonhap, “Nearly 1 in 4 ballots already cast as early voting breaks turnout records,” The Korea Herald, 30 May 2025)

Korea  Reader Daily Wire | 29 May 2025, Thursday | Vol.2 No. 109
South Korea’s presidential candidates lull over human rights issue, reports Korea Times
On 29 May, Korea Times reported as South Korea’s 03 June presidential election is nearing, prompting major human rights groups including Human Rights Watch (HRW) and the International Federation for Human Rights (FIDH) to express disappointment after leading presidential contenders Kim Moon-soo (People Power Party) and Lee Jae-myung (Democratic Party) failed to respond to questionnaires on key human rights issues. These included freedom of speech, environmental responsibility, LGBTQ+ rights, and North Korea policy. A separate FIDH-TJWG questionnaire addressing sensitive topics like same-sex marriage and asylum policy was also ignored. While both candidates have expressed positions on North Korea—Kim favoring international advocacy and Lee preferring cautious engagement—they remain vague on other human rights matters. Lee notably downplayed concerns over press freedom, despite his party's controversial 2021 bill to punish the media for “fake news.” Only Lee Jun-seok of the Reform Party responded, expressing partial support for LGBTQ+ rights and opposing reinstating the death penalty, though he favored penal labor for death row inmates. (Jung Min-ho, “Nation's two leading candidates silent on human rights issues,” The Korea Times, 29 May 2025)

South Korea kickstarts its early voting for presidential elections
On 29 May, early voting for South Korea’s presidential election began at 3,568 polling stations nationwide, marking the start of a crucial two-day window for voters to elect the next president. According to the National Election Commission (NEC), polling stations opened at 6 am and will remain active until 6 pm on 30 May. As of 8 am, voter turnout stood at 2.24 per cent, reflecting early engagement despite political uncertainty. Six candidates are contesting the presidency, with the latest poll showing Lee Jae-myung of the Democratic Party of Korea (DPK) in the lead with 49.2 per cent support. He is followed by Kim Moon-soo of the conservative People Power Party at 36.8 per cent, and Lee Jun-seok of the minor Reform Party with 10.3 per cent. The outcome is expected to shape South Korea’s political trajectory on domestic and international fronts. (Yonhap, “Early voting for presidential election kicks off,” The Korea Times, 29 May 2025)

South Korea and Japan’s deal to import 200 tons of Korean Rice
On 29 May, The Korean Herald reported that Korean food export firm The O Global has signed a major agreement with Japan’s top retailer Beisia to export 200 tons of Korean rice, marking the largest rice export by a private Korean company for general sale in Japan. The shipments of premium Saecheongmu rice began this week and will continue over four weeks. The rice, known for its soft texture and mildly sweet flavor, will be sold in 5-kilogram bags starting late June. This deal comes as Japan faces a rice shortage caused by a 2023 heat wave, declining domestic consumption, and reduced rice cultivation. As prices rise, imports of foreign rice have increased, opening new opportunities for exporters like the O Global. CEO Yuni Chung expressed confidence in Japanese consumer acceptance, noting that Saecheongmu’s quality meets the high standards of Japan’s rice market. Chung emphasized the structural challenges Japan faces, such as an aging farming population and climate disruptions, and expressed pride in supporting food security in the region. (Kim Hae-yeon, “Korean rice heads to Japan in record 200-ton deal,” The Korea Herald, 29 May 2025)

Korea Reader Daily Wire | 28 May 2025, Wednesday | Vol.2 No. 108
Korea to kickstart language support program to help immigrant students, informs SMOE
On 28 May, The Korea Times reported that the Seoul Metropolitan Office of Education (SMOE) will launch a new Korean language support program in June, targeting multicultural and recently arrived immigrant students. This initiative reflects a broader policy shift that recognizes language proficiency as crucial not only for academic performance but also for social integration and equity in an increasingly diverse society. Unlike earlier efforts that focused only on districts with high multicultural populations, such as Yeongdeungpo, Geumcheon, and Guro, the new program extends support to schools in less diverse areas that have lacked resources. SMOE Superintendent Jung Keun-sik emphasized the goal of fostering an inclusive learning environment where all students can thrive regardless of background. Despite an overall decline in Seoul’s student population—from 844,074 in 2020 to 769,416 in 2024—the number of multicultural students has grown, reaching 21,282 in 2024, a 16.3 per cent increase since 2020. Many of these students require foundational Korean instruction. The program consists of two parts: school-based Korean language classes and AI-assisted Hangeul literacy tools. Personalized after-school lessons with bilingual support will run from June to August for 44 students. Separately, 75 students will receive seven-month licenses for AI-based reading programs starting in June. Schools may nominate a limited number of students, with priority given to older learners with lower proficiency. (Yonhap, “Seoul expands Korean language support for immigrant students”, The Korea Times, 28 May 2025)
 
Korea Reader Daily Wire | 27 May 2025, Tuesday | Vol.2 No. 107
South Korea’s foreign ministry raises concern over China’s no-sail zone
On 24 May, Reuters reported that South Korea's Ministry of Foreign Affairs has voiced concern to China about its recent setup of a no-sail zone in a provisional maritime area. The ministry stated that the issue was formally communicated to Chinese authorities. The ongoing regional tensions emphasise that both countries place importance on maritime security and mutual understanding. (“South Korea expresses concerns over China's establishment of no-sail zone,” Reuters, 24 May 2025)

Korea Reader Daily Wire | 26 May 2025, Monday | Vol.2 No. 106
South Korean candidates support swings, reports Realmeter survey
On 25 May, Korea Times reported on a Realmeter survey, noting that DPK candidate leads with 46.6 per cent, followed by Kim Moon-soo with 37.6 per cent and Lee Jun-seok with 10.4 per cent. The poll commissioned by Energy Economic News had a margin of error of plus or minus 3.1 per cent points at a 95 per cent confidence level with a response rate of 8.3 per cent. The DPK candidates' support dropped by 3.6 per cent points, while the PPP candidates' figure rose by 2 points. The gap between the two narrowed from 14.8 per cent to 9. The recent polls suggest that a merger between Kim and Lee Jung-seok could give conservatives a strong chance of overtaking Lee Jae-myung. (Lee Hyo-jin, “South Korea's presidential election: Liberal candidate's lead narrows as conservatives gain ground,” The Korea Times, 25 May 2025)

North Korea repairs damage to new destroyer, reports KCNA
On 26 May, North Korea’s state media KCNA reported that a new destroyer that was damaged last week during a launch attempt was under repair. It added that the north detained another official in connection with its investigation into the warship accident. “At the scene of the destroyer launch accident, the work for completely restoring the balance of the warship is being actively conducted under the technical guidance of an expert group according to its schedule,” the KCNA said. According to the Korean Central News Agency, the law enforcement organ summoned and detained North Korea’s Ministry of Industry’s Vice Director, Ri Hyong-som. They further added that the data from the investigation group described Ri as “greatly responsible “ for the accident. The North Korean President Kim Jong-un decried the accident as an intolerable "criminal act," blaming it on "absolute carelessness" and "irresponsibility" and ordering the ship's restoration by June. (“North Korea says damaged destroyer under repair,” The Korean Times, 26 May 2025)

Korea Reader Daily Wire | 23 May 2025, Friday | Vol.2 No. 105
South Korea observes a surge in side income, reports The Korea Times
On 22 May, an editorial in The Korea Times reported that more South Koreans are taking multiple jobs to survive. In 2023, the number of people juggling several gigs reached a record 676,000, driven by rising prices and economic stagnation. Workers like 54-year-old Park Min-seung now work up to 73 hours a week across three jobs: night shifts at a Coupang warehouse, morning shifts at a grocery store, and package delivery. Despite this, wages remain low and barely rise, with Park noting inflation far outpacing his earnings. Others like delivery rider Kim Gwang-yeon complain about platform companies reducing payouts while earning large profits, with apps like Baedal Minjok cutting fees per delivery. Self-employed tutor Kwon Soo-yong also works three jobs without basic protections. In April 2024, small business closures surged, with over 30,000 applying for shutdown aid. Experts argue that labor laws must adapt to protect gig and freelance workers, calling for health insurance, paid leave, and fairer employer responsibilities. (Hankookilbo, “Working 3 jobs a week: More Koreans forced into multiple gigs,” The Korea Times, 22 May 2025)
 
South Korea’s first air monitoring base, “Master Control Reporting Center”
On 22 May, South Korea’s First Master Control Reporting Center (MCRC) was launched at Osan Air Base in Pyeongtaek. It operates with intense focus, tracking and managing every aircraft in its skies. As the country’s first line of air defense, the MCRC works day and night, monitoring radar feeds from air, sea, and land sources, identifying unknown aircraft, and dispatching interceptors if needed. Linked to a backup center and integrated into the larger Korea Air and Space Operations Center (KAOC), it shares intelligence with US allies through secure networks like Link-16. Inside KAOC, both South Korean and US officers conduct joint drills, run missile defense, and even lead humanitarian missions. Experts view this system as essential for quick response in a region under constant threat. (Bahk Eun-ji, “Eye in the sky: inside Korea Air Force's radar nerve center,” The Korea Times, 22 May 2025)
 
North Korea launches cruise missiles
On 22 May, North Korea fired several cruise missiles into the East Sea. South Korea’s Joint Chiefs of Staff detected that it had launched from the Sondok area in South Hamgyong Province. This incident occurred just a day after a failed launch ceremony for a new North Korean warship, during which parts of the destroyer were damaged. Leader Kim Jong-un criticized the accident as a “criminal act.” The missiles may have been launched from a maritime platform, and officials are investigating whether they are a version of the Padasuri-6 anti-ship missile tested in February last year. South Korea, in coordination with US intelligence, is closely analyzing the launch and remains ready to strongly respond to any threat. This launch follows a series of recent military activities by Pyongyang, including short-range ballistic missile tests on 8 May. Cruise missile launches are not always reported immediately, unlike ballistic ones, which are banned internationally.(“N. Korea fires multiple cruise missiles into East Sea: JCS,” The Korea Times, 22 May 2025)
 
South Korea’s demographic crisis is absent from election focus, says an editorial in The Korea Times
On 21 May, an editorial in The Korea Herald reported that the demographic crisis is getting little attention in the presidential race ahead of the 03 June election. With the world’s lowest fertility rate and over 20 per cent of the population aged 65 or older, South Korea is a “super-aged” society. South Korea’s fertility rate was recorded at 0.75 in 2024. Despite the urgency, most presidential candidates have focused only on short-term financial incentives such as child-rearing subsidies, housing support, and tax relief. Experts say these pledges recycle old policies that have failed over the past 10-15 years. The professor of social welfare at Dongseo University, Kim Young-mi stated that, “A major shift in this population strategy is essential for the sake of the country’s survival and citizens' quality of life and happiness, but no presidential candidate has declared that such a shift will be taken up as their most important agenda.” (Son Ji-hyoung, “Clock is ticking, but demographic crisis gets drowned out in presidential race,” The Korea Herald, 21 May 2025)

Korea Reader Daily Wire | 21 May 2025, Tuesday & Wednesday | Vol.2 No. 104
US and South Korea engage in second round of trade talks
On 20 May, South Korea and the United States began a new round of working-level talks over US reciprocal tariffs and other economic and trade issues in Washington. Director-general for Trade Policy, Chang Sung-gil, will lead the South Korean delegation in the second round of "technical discussions" with officials from the Office of the U.S. Trade Representative (USTR). The talks are set to be on 22 May. The two sides held the first round of technical discussions in Washington from 30 April to 01 May. It was agreed during a ministerial meeting on 16 May that the two sides will be focusing on six areas -- balanced trade, non-tariff measures, economic security, digital trade, the country of origin’ issue and commercial considerations. Seoul has been striving to minimise the rates of the Trump administration's new duties, including 25 per cent "reciprocal" tariffs on South Korea as well as sectoral tariffs that include 25 per cent levies on automobiles, steel and aluminium. To counter the fact that China has over 230 times the shipbuilding capacity of the US, the Trump administration has been seeking to rebuild America's shipbuilding industry in cooperation with allies and partners. Seoul has proposed crafting a "July package" agreement before July 08, when Trump's 90-day suspension of reciprocal tariffs ends. Officials have stated that Korea will engage in the trade talks in a measured manner "without haste."(Yonhap, S. Korea, "US kick off new round of trade talks in Washington," The Korea Times, 21 May 2025)

Childbirth incentives are the central theme of the Presidential Elections
On 19 May, The Korea Times reported that South Korea’s demographic crisis continues to worsen, presidential candidates are prioritizing policies to combat the nation’s record-low birthrate, which fell to 0.75 in 2023, the lowest among Organisation for Economic Co-operation and Development (OECD) countries. At this pace, the population could shrink to 36 million within 50 years. Despite the urgency, none of the candidates have proposed a dedicated population ministry to oversee demographic strategy, though discussions on broader government reforms continue. Democratic Party Presidential candidate Lee Jae-myung has unveiled a comprehensive plan to ease the burden of child-rearing. His proposals include expanding tax benefits, gradually extending child allowance eligibility to age 18 and increasing parental leave across all sectors. Lee also pledged to raise credit card tax deductions and allow deductions for entertainment and sports academy fees as education-related expenses. (Jung Da-hyun, “Presidential hopefuls pledge childbirth incentives, but lack control tower plan,” The Korea Times, 19 May 2025)

SK Telecom data hack reveals 27 Million user records in suspected China-Linked cyberattack
On 19 May, The Korea Times reported that  a devastating cyberattack on SK Telecom in April exposed nearly 27 million user accounts. This surpassed the company's 25 million customer database and was one of the biggest telecom security breaches in South Korea. Forensic scan of 30,000 Linux servers yielded 23 infected with 25 types of malware, including BPFDoor and web shells. The stolen 9.82 GB dataset included mostly 26.95 million International Mobile Subscriber Identity (IMSI) records and approximately 290,000 International Mobile Equipment Identity (IMEI) records, which posed concerns of USIM cloning and cyber attacks. The initial reports left out IMEI compromise, but recent research indicated sensitive personal information including IMEI, name, birthdate, phone number, and email addresses were compromised. While the government and SK Telecom claim that phone cloning is technically still challenging and that fraud-probing systems prevent such attempts, the threat exists. Attribution has been made to China-based group Red Menshen, employing BPFDoor malware for telecom infrastructure espionage with suspected political or military intent versus financial motives. The breach highlights pressing demands for strong cybersecurity and global collaboration. (Nam Hyun-woo and Lee Gyu-lee, “27 mil. user records leaked in SK Telecom data breach,” The Korea Times,19 May 2025)

Korea Reader Daily Wire | 20 May 2025, Monday | Vol.2 No. 102-103
Presidential candidate Lee Jae-myung put forth a proposal to end the presidential term limit
On 18 May, the Democratic Party of Korea's presidential candidate Rep. Lee Jae-myung pledged to amend the Constitution to permit presidents to serve two terms, while shortening the term duration from five years to four. Lee also proposed memorializing the 1980 pro-democracy movement in Gwangju in the Constitution, to "remember the people who gave their lives to fight dictatorship and defend democracy." Lee stated the Constitution needed to be rewritten to be a "sturdier bastion of democracy," and that "the spirit of Gwangju must be written into (its) text." Lee, who was in Gwangju on Sunday to mark the anniversary of the Gwangju Democratic Uprising, made these announcements in a post on his Facebook page, along with other policy pledges. Lee stated, "Implementing a four-year presidential term and allowing a second run would let people give a 'halfway evaluation' on the administration's performance,".  (Kim Arin, Lee Jae-myung floats ending single-term limit for presidency, The Korea Herald, 18 May 2025) 

Democratic Party’s presidential candidate Lee Jae-myung leads the 2025 South Korean Presidential Election, says the Korea Herald 
On 19 May, The Korea Herald reported that Democratic Party presidential candidate Lee Jae-myung was leading with 50.2 per cent support against his People Power Party rival Kim Moon-soo with 35.6 per cent. A Realmeter survey conducted on 1,509 adults from 14 May to 16 May, candidate Lee Jun-seok of the minor New Reform Party stood third with 8.7 per cent. When asked whether they intended to maintain their current candidate preferences, 82.3 per cent of respondents said they would stick with their choices. More than half of the respondents were in favour of regime change by the DP through the 03 June presidential election, while 39.5 per cent hoped to extend the rule of the former governing PPP. (Democratic Party's Lee leads People Power Party's Kim 50.2% to 35.6%: poll, The Korea Herald, 19th May, 2025) 

Korea Reader Daily Wire | 17 May 2025, Saturday | Vol.2 No. 101
Suk Yeol resigns from People Power Party (PPP)
On 17 May, Former President Yoon Suk Yeol declared he is resigning from the People Power Party (PPP) and urged public support for its presidential hopeful, Kim Moon-soo. Despite quitting while he was at it, Yoon pledged his continuing defense of national sovereignty. Yoon resigned amid party pressure after being impeached in April over a botched effort at martial law. Interim president Kim Yong-Tae had requested him to resign to boost Kim's trailing polls. While PPP candidate Kim was on neutral grounds, opposition parties condemned Yoon for not apologizing. The Democratic Party and New Reform Party condemned Yoon's statement as delusional and the PPP for aiding and abetting in not having him removed. (“Ex-President Yoon announces departure from PPP, urges support for party candidate Kim,” The Korea Herald, 17 May 2025)
 
Greenpeace activists to stand trial in South Korea for protest over plastics
On 16 May, Five UK, German, and Mexican Greenpeace activists, led by the captain of the Rainbow Warrior ship, made an appearance in a Seoul court for the initial hearing of their trial on unlawful intrusion and business obstruction charges. Their charges are in connection with a protest off Seosan's coast in November for the fifth session of the Intergovernmental Negotiating Committee for Plastic Pollution, where they took over a vessel used to transport plastic resin and showed a "Strong Plastics Treaty" sign. They called for tougher international action against plastic pollution after their hearing. They are all banned from traveling out of South Korea until their trial. (“Greenpeace activists, banned from leaving S. Korea, attend first trial hearing,” The Korea Herald, 16 May 2025)

Korea Reader Daily Wire | 15-16 May 2025, Thursday & Friday | Vol.2 No. 99 & 100
South Korea trade chief to visit Washington to discuss tariff-related package deal, reports The Korea Herald
On 16 May, The Korea Herald reported on South Korea’s Trade Chief Ahn Duk-geun will hold talks with the US Trade Representative Jamieson Greer, with discussions expected to focus on follow-up measures to the Washington agreement. Ahn aims to develop a more detailed framework for future trade negotiations with US President Donald Trump's administration. As part of the agreement, Seoul and Washington have agreed to concentrate on four key areas: tariff and non-tariff measures, economic security, investment cooperation, and currency policies. Earlier that day, Greer also met with executives of HD Hyundai Heavy Industries Co. in Jeju to explore avenues for bilateral cooperation—an effort seen as vital to revitalising America’s maritime industrial base. (“S.Korean, US trade chiefs to hold talks over tariff-related package deal,” The Korean Herald, 16 May 2025)
 
South Korea’s National Multicultural Voters’ Alliance pushes for 10 policy proposals in the name of multicultural democracy
On 14 May, South Korea’s National Multicultural Voters’ Alliance called on all presidential candidates to adopt 10 key policy proposals to protect the rights and inclusion of immigrant communities. Seoul YMCA and the Korean immigrant Women’s Voter Network saw this as an indispensable opportunity to empower and support multicultural voters. Their aim is to execute policies that change the “definition of multicultural families” and seek stronger measures for employment, residency protection and anti-discrimination policies.” The immigrant or multicultural background voters constitute 500,000 of the voter population, and this demographic holds significant importance for the Korean democracy. In a statement by the Alliance, they said: “We may look different, but we stand united”, encapsulating the spirit of democracy. This election might mark a shift in how multicultural citizens are seen as people who are not only recipients of services but are active participants shaping public policy. (“National multicultural voters’ alliance presents 10 policy proposals to presidential candidates,” The Korean Times, 16 May 2025)

South Korea’s election campaigns in full swing, reports The Korea Herald
On 14 May, The Korea Herald published on South Korea’s presidential contest heated up into a competitive three-way race featuring Lee Jae-myung of the Democratic Party, Kim Moon-soo from the People Power Party, and Lee Jun-seok representing the New Reform Party. They have concentrated their campaign efforts on revitalizing the economy in the conservative South Gyeongsang region, aiming to attract support from moderate and conservative voters. Lee Jae-myung, leading the Gallup Korea poll with 51 percent support, proposed relocating the Ministry of Oceans and Fisheries and HMM’s headquarters to Busan to prepare for new Arctic shipping routes by 2030, despite pushback from one of HMM’s labor unions. A longshoremen's union spokesperson argued that remaining in Seoul is more efficient for overseas operations, although the sailors’ union agreed to cooperate with the Democratic Party’s Northern Sea Route plans. Lee also criticized ex-President Yoon for failing to relocate the Korea Development Bank. Kim Moon-soo, polling at 31 percent, pledged to develop Sacheon into a global aerospace hub through support for Korea Aerospace Industries and Gyeongsang National University. Lee Jun-seok, with 8 percent support, addressed youth migration to Seoul and promised to turn Busan into a tech and gaming hub. The poll by Gallup Korea surveyed 1,002 adults from May 12–13. (Yonhap, “3-way presidential race heats up with economic pitches to moderates,” The Korea Herald, 14 May 2025)

South Korea’s KITA Chairman meets US Officials to ease trade challenges         
On 15 May, Korea International Trade Association (KITA) Chairman Yoon Jin-sik, along with representatives from Korean companies such as Meta Biomed, Exicon, Iljin Group, Jusung Engineering, Doosan, Dongwon, and SeAH Steel, visited Washington to seek tariff exemptions and strengthen economic cooperation with the US. This visit, centered around the SelectUSA investment summit, aimed to advocate for Korean firms’ critical role in US supply chains, particularly in strategic sectors like semiconductors, batteries, shipbuilding, and nuclear power. Yoon emphasized that Korean companies are no longer just partners but “force multipliers” for America’s economic security. He called for tariff deferrals or exemptions, especially amid Section 232 investigations into national security-related imports. US Commerce Department official Trevor Kellogg acknowledged Korea's role and pledged support, including efforts to streamline professional visas for Korean talent. Additionally, concerns were raised with Congressman Pete Sessions about reduced investment incentives under the Inflation Reduction Act, and Senator John Curtis was urged to consider Korean shipbuilding expertise to bolster US naval capabilities. Over 300 people, including Rep. Joe Wilson, attended KITA’s networking reception to enhance bilateral trade collaboration. (Nam Hyun-woo, “KITA chairman engages US officials to mitigate trade headwinds,” The Korea Times, 15 May 2025)

Korea Reader Daily Wire | 13-14 May 2025, Tuesday & Wednesday | Vol.2 No. 97 & 98
South Korea detains two accused of participating in riots 
On 14 May, The Korea Herald reported on the rulings in a courthouse riot case. A Seoul court handed prison terms to two men for their involvement in a riot last January. The unrest led to an unprecedented crisis, triggered by the extension of detention against Yoon Suk Yeol. The defendants, surnamed Kim and So, were sentenced to 11 and a half years and one year, respectively, on trespassing charges related to the incident on January 19, 2025. (“Prison terms for 2 courthouse rioters handed down,” The Korea Herald, 14 May 2025)

DPK calls for protection from former South Korea President Yoon's sympathizers
On 13 May, South Korea’s Rep. Kim Byung-joo of the Democratic Party held a press conference, claiming that sympathisers of former President Yoon Suk Yeol were plotting a terrorist attack against the party’s presidential candidate, Rep. Lee Jae-myung. He emphasised the seriousness of the alleged threat and urged the government to consider deploying agents from the Presidential Security Service to protect Lee. Kim described terrorism as “the most serious threat” to national security at present. However, the legal grounds for granting a candidate access to presidential security are still under discussion. (“Democratic Party of Korea requests presidential security for Lee Jae-myung citing 'terrorist threats',” The Korea Herald, 13 May 2025)

Korean seasonal worker programme accused of exploitation of foreign workers, reports Korea Times
On 12 May, the Korea Times reported on scrutiny on South Korea's seasonal worker program after the US banned salt imports from Korea. Due to an aging population and labour shortages, the South Korean government is relying heavily on foreign workers. However, the program faces backlash over exploitation by brokers, wage theft, and a lack of clear regulation. Reports reveal that some brokers withheld wages and threatened migrant workers and their families. Korea Times noted that the local governments find it difficult to hold the brokers accountable. Aside from salt imports, other imports, including marine and agricultural products, may face a similar ban. (“Korea’s seasonal worker program faces scrutiny amid US forced labour sanctions,” Korea Times, 12 May 2025)
 
South Korea and Malaysia hold the 9^th FTA negotiations
On 13 May, Malaysia and South Korea meet in Kuala Lumpur to conduct their ninth round of negotiations on a free trade agreement (FTA) following their five-year hiatus. According to the South Korean Ministry of Trade, Industry and Energy, the talks should involve some 70 trade officials from the two countries. Director General for FTA negotiations at the South Korea's Ministry of Trade, Industry and Energy, Kwon Hye-jin stated that, “A bilateral FTA with Malaysia, a promising market in the ASEAN region, will greatly help Korean companies boost their competitiveness in the global market and mitigate uncertainties amid growing risks sparked by U.S. tariff measures and the spread of global trade protectionism.” (“Korea, Malaysia set to hold 9th round of FTA negotiations in Kuala Lumpur,” Korea Times, 13 May 2025)

Korea Reader Daily Wire | 12 May 2025, Monday | Vol.2 No. 96
Korea’s exports fell by 23.8 percent in May, reports The Korea Times
On 12 May, The Korea Times published a report which stated that South Korea’s exports declined by 23.8 percent in the first 10 days of May 2025, reaching USD 12.83 billion. Last year, it was USD 16.84 billion during the same period; this is reckoned to be primarily due to fewer working days. Imports also fell 15.9 percent, totaling USD 14.57 billion, resulting in a trade deficit of USD 1.7 billion. The daily export volume saw a 1 percent decrease year-on-year. Exports to the US fell by 30.4 percent to USD 1.99 billion, while shipments to China dropped 20.1 percent to USD 2.81 billion. Semiconductor exports rose 14 percent to USD 3.42 billion, while automobile exports decreased by 2.3 percent to USD 1.12 billion, and petroleum exports plummeted 36.2 percent to USD 1 billion. In contrast, April exports saw a 3.7 percent rise, totaling USD 58.2 billion. (Yonhap, “Korea's exports shrink 23.8% during first 10 days of May on fewer working days,” The Korea Times, 12 May 2025)
 
UN to convene first summit on North Korean human rights abuses
On 12 May, The Korea Times reported that the United Nations General Assembly will hold its first high-level meeting on North Korea's human rights violations. This comes after a resolution was passed in December 2024, notes diplomatic and civic group sources. This marks the first time the UNGA itself is hosting such a session, unlike the 2014 meeting, which was organized by South Korea, the US, and the UN Human Rights Office. UNGA President Philemon Yang confirmed the plan in a circulated letter. South Korea’s Ministry of Foreign Affairs stated that it is reviewing whether to send a senior official, either from Seoul or its UN delegation, to participate in the landmark session.  (Yonhap, “UN to host 1st high-level meeting on N. Korea's human rights violations,” The Korea Times, 12 May 2025)

Korea Reader Daily Wire | 02 May 2025, Friday | Vol.2 No. 95
South Korea’s former Prime Minister Han Duck-soo declares presidential bid after resignation
On 02 May, Former Prime Minister Han Duck-soo officially launched his presidential campaign. On 01 May, He announced his declaration in the National Assembly following his resignation as acting president and prime minister in a public address at the Government Complex Seoul.  His first campaign event will be a visit to the Donui-dong shantytown in Jongno District, central Seoul. (Jung Da-hyun, “Former PM declares presidential bid,” Korea Times, 02 May 2025)
 
South Korea’s court orders retrial of Democratic Party presidential candidate Lee Jae-myung
On 01 May, South Korea’s Supreme Court overturned the Seoul High Court’s acquittal of Democratic Party presidential candidate Lee Jae-myung on election law violation charges. The Court found that parts of the appellate ruling misinterpreted the law and remanded the case for retrial. The case involves two 2021 remarks Lee made, alleging he did not know developer Kim Moon-ki and that the land ministry “pressured” Seongnam city officials. These statements were considered by the top court as false factual claims that were likely to mislead voters. The retrial verdict will not arrive before the 03 June election and therefore does not immediately disqualify Lee. The Supreme Court’s majority decision (10 of 12 judges) has reignited debate over his fitness to stand, with legal thresholds potentially barring any candidate fined over 1 million won from office for up to 10 years. In response, Lee said: “The most important thing is what the people want. I will follow that.” (Bahk Eunj-ji, “Top court overturns acquittal in Lee Jae-myung’s election law violation case,” Korea Times, 01 May 2025)
 
South Korea’s Deputy Prime Minister and Education Minister steps in as acting President
On 02 May, Deputy Prime Minister and Education Minister Lee Ju-ho became acting president of South Korea following the resignation of Choi Sang-mok. On 01 May, Choi stepped down after the Democratic Party of Korea moved to impeach him. Choi’s departure, approved by former acting president Han Duck-soo, came amid a fierce power struggle just days before the 27 March deadline for public officials to resign to run in the June 3 presidential election. Han himself had resigned from the acting presidency after briefly returning to the role when the Constitutional Court overturned his impeachment. In a meeting at Han’s office, Han urged Lee to ensure that government operations continue “uninterrupted under any circumstances.” (Kim Arin, “Education minister becomes third acting president of S. Korea in five months,” Korea Herald, 02 May 2025)

Korea Reader Daily Wire | 01 May 2025, Thursday | Vol.2 No. 94
South Korea’s exports grew by 3.7 per cent, says Ministry of Trade, Industry and Energy
On 01 May, the Ministry of Trade, Industry and Energy reported that in April, South Korea’s exports grew 3.7 per cent year-on-year. This marks the third consecutive monthly increase to a record April high of USD 58.2 billion. Imports fell 2.7 per cent to USD 53.3 billion, yielding a trade surplus of USD 4.88 billion. While overall shipments to the US dropped 6.8 per cent, largely due to weaker automobile and machinery exports. Exports to China, ASEAN, and the EU all rose, with EU shipments up 18.4 per cent to a record USD 6.7 billion. Semiconductors led sectoral gains, jumping 17.2 per cent to USD 11.7 billion, alongside strong growth in wireless equipment (+26.5 per cent), biopharma (+14.6 per cent), steel, secondary batteries, and ship exports. Industry Minister Ahn Duk-geun said: “Despite a decrease in exports to the US, larger shipments to other major countries sustained export growth.” He pledged ongoing government support to mitigate US tariff impacts. (Yonhap, “South Korea's exports rise 3.7 per cent in April; shipments to US down 6.8 per cent,” Korea Times, 01 May 2025)
 
Czech Republic to sign USD 18 billion contract with South Korean firm
On 30 April, the Czech government approved a USD 18 billion deal with Korea Hydro & Nuclear Power (KHNP) to build two new reactors at the Dukovany Nuclear Power Plant. The Cabinet decided to green-light the 400-billion-koruna contract, making it Korea’s second overseas nuclear export after the UAE’s Barakah project. The tender, launched in 2022 by CEZ Group’s Elektrarna Dukovany II, was narrowed to KHNP and France’s EDF. KHNP prevailed despite a prior legal challenge by Westinghouse, which was later resolved in January through a cooperation agreement. The two governments are now arranging a joint signing ceremony set for May 7. (Ko Dong-hwan, “Korea wins D 18 bil. Deal to build Czech nuclear power plant,” Korea Times, 30 April 2025)