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• 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.

• President Lee Jae Myung called for a thorough investigation into the National Election Commission on the 23rd, specifically citing budget waste and hiring irregularities. • Lee emphasized that because the Commission is a constitutionally independent body, the government lacks the authority to intervene in its management or control. • The move follows a rebuke from the National Assembly's special committee on state affairs, which questioned whether the Commission was engaging in collective misconduct.

• President Lee Jae Myung's job approval rating fell to 46.7% as of the 22nd, marking the first "dead cross" since his inauguration where negative evaluations surpassed positive ones. • The decline is attributed to public anxiety over botched election management and a lack of effective policy alternatives to address volatile real estate sentiment. • Members of the ruling party have expressed concern that there are currently no policies capable of soothing public sentiment amid internal party conflicts and friction with the presidency.

• Discussions regarding the reform of South Korea's National Election Commission (NEC) have intensified following a ballot-paper shortage during the June 3 local elections. • Experts highlight that Korea's independent administration model is a global benchmark for new democracies, as it ensures political neutrality and fosters administrative expertise. • The current debate focuses on the critical need to maintain the NEC's independence from the government while simultaneously strengthening oversight to prevent operational failures.

• SK Group Chairman Choi Tae-won and Art Center Nabi Director Noh So-young will appear in court on the 15th for the first time in two years and two months. • The hearing follows a Supreme Court remand of their divorce case, focusing on the division of assets and the financial impact of SK's growth. • A critical point of contention is the "threefold surge" in SK share prices, which significantly alters the valuation of the assets being contested.

• Protesters have blockaded ballot counting centers for six days as of the 10th, demonstrating against a ballot-paper shortage during the June 3 local elections. • The ruling party is facing significant pressure as the "Jamsil protests" continue, specifically concerning public sentiment regarding "fairness" among the 2030 age demographic. • In response to the unrest and systemic failures, the ruling party has signaled a commitment to implement sweeping reforms of the National Election Commission.