%EA%B2%BD%ED%96%A5%EC%8B%A0%EB%AC%B8

• Supreme Court Justice nominee Kim Seong-Su expressed regret on the 14th for an oversight that caused public concern. • Kim stated that he will closely read the changes of the times to help the judiciary move in step with current societal shifts. • This commitment suggests a willingness to adapt judicial interpretations to align with rapidly changing social norms.

• Kim Min-seok, leader of the Democratic Party of Korea, announced that the party will pursue a realistic constitutional amendment based on public demand. • He identified the Mega Special Zone Special Act as the top legislative priority for the current regular National Assembly session. • This approach signals a shift toward prioritizing immediate livelihood issues and public sentiment over rigid legal procedures.

• The US government is considering extending export controls to cloud services to prevent China from accessing advanced AI models and computing power. • This move follows a surge in Chinese AI capabilities and aims to close loopholes that allow Chinese firms to bypass hardware restrictions via third-party cloud providers. • Some experts warn that these regulations could inadvertently weaken US market dominance if data centers in Southeast Asia shift toward Chinese chips.

• The KOSPI experienced a record-breaking surge on the 31st, marking its largest daily gain in history as the index climbed from the 5,500 level to reclaim 6,500. • The rally was primarily driven by a sharp increase in large-cap semiconductor stocks, fueled by robust earnings reports from the United States. • J.P. Morgan noted that the liquidation of leveraged ETFs is virtually complete, suggesting a stabilization of the market's downward pressure.

• President Lee Jae Myung held a dinner meeting on the 24th in San Francisco with global AI leaders, including NVIDIA CEO Jensen Huang and heads of Samsung Electronics, Hyundai Motor Group, and SK Group. • During the event, President Lee announced the ‘San Francisco AI Declaration’ at the San Francisco AI Summit to strengthen South Korea's role in the global AI supply chain. • The meeting brought together industry giants with a combined market capitalization of 1.7 gyeong (approximately 17 quadrillion won), highlighting the immense economic scale of the AI sector.

• Bank of Korea Governor Shin Hyun-song announced on the 16th that the base rate has been raised from 2.50% to 2.75% per annum. • Addressing recent high stock market volatility, Shin stated that there are few systemic risk factors currently threatening the real economy. • He emphasized that semiconductor prices, rather than semiconductor share prices, are the critical metric to monitor for economic impact.

• The KOSPI index plummeted nearly 9% on the 13th, falling below the 7,000 mark in a session dubbed "Another Black Monday." • The crash was primarily driven by a massive sell-off in semiconductor giants Samsung Electronics and SK hynix, with the latter recording its biggest drop in history. • Market volatility is attributed to fears of a semiconductor "peak-out" due to slowing AI investment and escalating geopolitical tensions between the U.S. and Iran.

• Han Byung-do, acting leader and floor leader of the Democratic Party of Korea, announced on the 5th that a special counsel bill regarding the National Election Commission will be introduced this week. • The proposed legislation aims to investigate the specific causes and circumstances surrounding a shortage of ballot papers during the June 3 local elections. • To ensure impartiality, Han stated that a third-party recommendation process for selecting the special counsel is the most realistic approach.

• On the 25th, Prime Minister Kim Min-seok announced that the government will not submit the prosecution reform plan developed by the Prosecution Reform Promotion Team, despite maintaining a basic position to abolish the prosecution's supplementary investigation authority. • Advisory committee members condemned the decision as "irresponsible," claiming Kim abandoned his official duties to prioritize his political ambitions for the Democratic Party's leadership election in August. • This conflict highlights a significant rift between the government's executive leadership and the specialized team tasked with implementing legal reforms.

• KBS reporters have filed a constitutional petition seeking to overturn final defamation judgments and damages awarded after they reported on a businessperson's prior convictions. • The Constitutional Court of Korea has decided to conduct a full review of the case to determine if the rulings violated the reporters' freedom of the press. • This case tests the boundaries of journalistic accountability versus the right to report on public interest information, specifically regarding the disclosure of criminal records.