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President Lee Jae Myung formally launched the Jangbogo-N program on May 26, 2026, marking South Korea's entry into nuclear-powered submarines. Meanwhile, Hanwha Ocean and HD Hyundai Heavy Industries compete for Canada's 60 trillion won Patrol Submarine Project for 12 diesel-electric hybrid submarines.
South Korea's Kospi Index tumbled more than 8%, triggering a 20-minute trading halt shortly after market open. Samsung Electronics fell as much as 11% and SK Hynix slid 10%, as investors pulled back from AI bets that have fueled the global bull market.
The won weakened to 1,561.5 per dollar in overnight trading on June 7, the highest intraday level since the 2009 global financial crisis. Authorities urged banks to step up measures against speculative behavior, citing escalating Middle East tensions and potential Fed rate hikes as drivers.
South Korean President Lee Jae Myung nominated Han Seongsook, former Naver CEO, as prime minister on June 7, 2026. If confirmed, she would be only the second woman to hold the post, following Han Myeong-sook (2006-2007). Outgoing PM Kim Min-seok is expected to run for the ruling party leadership.
South Korean police have begun questioning a complainant who accused election officials of dereliction of duty and abuse of authority over a ballot shortage during the June 3 local elections. Six civic groups also filed complaints alleging occupational embezzlement and breach of trust.
South Korean President Lee Jae Myung said Japan must offer a genuine apology before a military logistics pact can proceed. He ruled out expanding military ties in the near term, citing unresolved historical grievances. Lee spoke at a press conference marking his first year in office.
South Korean President Lee Jae Myung called for setting a short-term goal to stop North Korea's nuclear and missile buildup, noting the regime's advancing capabilities and the failure of sanctions. His remarks coincided with Chinese President Xi Jinping's state visit to Pyongyang, seen as a move to reassert influence.
South Korean President Lee Jae-myung ordered a joint investigation by prosecutors and police into the National Election Commission for alleged voting rights violations during the June 3 local elections. He also called for a parliamentary inquiry, expressing regret that the incident damaged popular sovereignty.
For the first time, more than 10,000 first-year students at South Korean general high schools left before completing their first year, totaling 10,450 cases in 2025. Overall dropouts reached 18,661, the highest in seven years, with first-year students accounting for 56%.
Two constitutional complaints have been filed over ballot shortages during South Korea's June 3 local elections, arguing the National Election Commission violated voting rights. The Constitutional Court will first review admissibility via a three-justice panel, then the full bench if accepted.