Newsbites

• Lim Woo-jae, a former executive adviser at Samsung Electro-Mechanics and former son-in-law of the Samsung founding family, has been released from custody. • The release follows a decision by a South Korean appeals court to sentence Lim to one year in prison, which was suspended for a period of two years. • This legal development marks a significant turn for a high-profile figure previously linked to the Samsung family's inner circle.

• The South Korean won plummeted to its lowest level in 17 years, closing at 1,541.8 won against the US dollar on June 24, 2026. • This exchange rate marks the weakest performance for the currency since the global financial crisis of 2009. • The decline reflects significant volatility in the KRW-USD exchange rate, signaling potential economic instability or shifting market pressures.

• The KOSPI index plummeted nearly 10% on June 23, 2026, causing severe financial losses for investors in South Korea. • Shares of semiconductor giants Samsung Electronics and SK Hynix fell approximately 12%, triggering a sharper decline of 24% to 25% in single-stock leveraged products. • The crash is significant as some investors reportedly lost one-third of their principal investment in a single trading day.

• South Korea's government has initiated a review of potential anti-discrimination legislation. • This move is part of the first-year policy agenda under the administration of President Lee Jae-myung. • The initiative matters as it signals a shift toward formalizing legal protections against discrimination within the country.

• Lee Beom-sik, 61, reached the summit of Hallasan Mountain's Baengnokdam Crater on May 28, 2026. • Despite having no arms and a prosthetic right leg, he completed the 18.3-kilometre Seongpanak trail. • The feat is a testament to his determination, earning him the nickname "Left-Foot Doctor".

• Malaysian Prime Minister Anwar Ibrahim has called for the resolution of Middle East tensions through peaceful, wise, and responsible diplomatic efforts. • In his statement, Ibrahim condemned the ongoing attacks and aggression occurring across the region. • Separately, two unnamed companies hosted events to introduce their products to industry officials and consumers in Thailand and Southeast Asia.

• Muhamad Nazri highlighted the Laos-Thailand-Malaysia-Singapore (LTMS) initiative as the first interconnection enabling commercial power transfer and enhancing regional supply security. • Five additional projects are currently in planning or feasibility stages to expand energy cooperation across Southeast Asia. • Key upcoming links include the Vietnam-Malaysia-Singapore (VMS) interconnection and the Sarawak-Peninsular Malaysia-Singapore link.