Early voting for local elections reaches 11.6%, the highest ever
The first day of early voting for the 9th nationwide local elections recorded a turnout of 11.6%, the highest since the introduction of early voting. The National Election Commission reported that from 6 a.m. to 6 p.m. on May 29, 518,486 out of 44,649,908 eligible voters cast their ballots. This turnout of 11.60% surpasses the first-day early voting rate of 10.18% from the previous local elections in 2022 by 1.42 percentage points. Since the early voting system was introduced in the 6th local elections in 2014, this is the highest turnout recorded on the first day.
The turnout increased steadily throughout the day, starting at 0.5% at 7 a.m., rising to 1.7% by 9 a.m., and reaching 4.86% by noon. In the afternoon, it continued to climb, hitting 8.15% by 3 p.m. and 10.39% by 5 p.m., before closing at 11.60% at 6 p.m. This figure exceeds the early trends from both the 2022 local elections and the 2024 general elections.
Police conclude 11-hour search related to fatal construction collapse
Authorities have completed an 11-hour search related to the collapse at a construction site in Seoul's Seosomun area that resulted in three fatalities. The Seoul Metropolitan Police Agency and the Ministry of Employment and Labor conducted the search from 9 a.m. to 8 p.m. at seven locations, including the Seoul Urban Infrastructure Headquarters and the main offices of the contractors involved. A total of 53 personnel, including 33 police officers and 20 labor inspectors, were deployed to the scene.
The search warrant cited charges of negligent homicide, violations of the Serious Accidents Punishment Act, and breaches of the Occupational Safety and Health Act. Both the primary contractor and subcontractors have been named as suspects in all three charges, while the Seoul city government is currently listed as a witness rather than a suspect.
KOSPI surpasses 8400 as National Pension adjusts stock holdings
The National Pension Service has raised its target allocation for domestic stocks from 14.9% to 20.8%, reflecting the recent explosive growth in the domestic stock market. On May 29, the KOSPI index reached an all-time high, alleviating fears of a sell-off by the pension fund.This adjustment in asset allocation is backed by the National Pension Service's impressive investment performance. According to preliminary figures released by the fund management division, the pension fund's reserves increased by 68 trillion won to 1,526 trillion won as of the end of the first quarter (March 31). The investment return rate during this period was reported at 4.42% (based on weighted returns).
Labor and Industry Ministers clash over corporate excess profits
A dispute has emerged between Employment and Labor Minister Kim Young-hoon and Industry Minister Kim Jeong-kwan regarding the issue of corporate excess profits. Minister Kim Young-hoon advocates for using excess profits to address polarization and promote shared growth, while Minister Kim Jeong-kwan emphasizes the need for reinvestment.On May 29, Minister Kim Jeong-kwan stated on social media, "The world is currently in a race to secure leadership in artificial intelligence (AI) investments," highlighting that competing nations are making unprecedented large-scale investments to emerge victorious in the AI era.
He added, "Now is a critical time to connect the profits generated by the semiconductor industry to productive reinvestment for the future," stressing the importance of strategically leveraging the AI boom to secure a growth engine for South Korea's industrial leap. He warned that even a single misstep in investment could collapse the industrial ecosystem.
NVIDIA CEO Jensen Huang visits Taiwan and South Korea to strengthen ties
NVIDIA CEO Jensen Huang is visiting Taiwan and South Korea to directly manage the Asian semiconductor supply chain. In Taiwan, he is solidifying ties with the local semiconductor ecosystem, known as the "brother room," ahead of significant investments and the establishment of a local headquarters. He will then travel to South Korea to hold a second meeting with major corporate leaders.After completing his schedule at the GTC event in Taiwan, Huang is expected to meet with leaders such as Chey Tae-won of SK Group, Chung Eui-sun of Hyundai Motor Group, Koo Kwang-mo of LG Group, and Lee Hae-jin, founder of Naver. This meeting follows their previous gathering at a chicken restaurant in Gangnam, Seoul, last October, where they discussed AI collaboration.
The main agenda for this visit is expected to focus on physical AI. NVIDIA is expanding its ecosystem beyond generative AI to include robotics, autonomous driving, smart factories, and manufacturing automation. SK Group is involved in high-bandwidth memory (HBM), Hyundai Motor Group in robotics and autonomous driving, LG Group in automotive and manufacturing AI, and Naver in cloud and AI platforms.
* This article has been translated by AI.
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