Korea Herald

• South Korean stocks surged by more than 8% on Tuesday, reclaiming the 8,000-point threshold after a similar percentage plunge in the previous session. • The market rebound was driven by a shift toward risk-on sentiment following a ceasefire agreement between Israel and Iran. • Investor confidence was further bolstered by ongoing optimism surrounding the artificial intelligence boom, which helped lift shares and the won.

• South Korea began nationwide local elections at 6 a.m. on Wednesday to determine local leadership for the next four years. • The voting process involves citizens across the country casting ballots to select representatives for various regional and municipal offices. • These elections are critical as they shape the administrative direction and governance of local districts for the upcoming term.

• The ruling Democratic Party of Korea achieved a landslide victory in local and parliamentary by-elections held on Wednesday, according to exit poll data. • The win provides significant political momentum for President Lee, who previously led the party to a 2024 victory before assuming the presidency following a crisis under the Yoon administration. • This electoral success is expected to buoy the Lee administration's legislative agenda and strengthen its mandate to govern.

• President Lee Jae Myung urged the public to vote in local elections on Wednesday, emphasizing that the nation's future depends on electing capable and loyal civil servants. • The President's appeal focused on the critical importance of voter turnout to ensure a competent administration at the local level. • Early reports indicate that voter turnout had reached 11% as of 10 a.m. on the day of the polls.

• South Korea's Ministry of Culture, Sports and Tourism and the Korean Film Council launched a public-private consultative body on Friday in Seoul. • The committee, consisting of 22 industry representatives, will discuss the implementation of a "holdback" system to establish mandatory waiting periods before films move from theaters to other platforms. • This initiative aims to protect the theatrical window and support the domestic cinema ecosystem against the rapid shift toward streaming services.