Economy and Entertainment Briefing — May 31, 2026
The KOSPI broke the "Sell in May" rule with a record-breaking rally, while the 6/3 local election early voting period began amid a polling blackout. Samsung and SK Hynix have decided to invest in the AI firm Anthropic.
Economy and Entertainment Briefing — May 31, 2026
Economic and Stock Market Issues
KOSPI defies "Sell in May" with 24% surge
The classic Wall Street adage "Sell in May and go away" was completely debunked in the domestic stock market this year. Led by Samsung Electronics and SK Hynix, the KOSPI recorded a historic rally, climbing 24% throughout May.
Samsung and SK join Anthropic investors to boost AI strategy
Emerging as key players in the AI ecosystem, Samsung Electronics and SK Hynix have decided to become investors in the U.S.-based AI leader Anthropic. This strategic investment is designed to secure priority memory semiconductor supply for the two companies as Anthropic expands its infrastructure investments.
Key economic events: May CPI and OECD growth outlook
Next week (June 1–5), the May consumer price index will be released, with the main focus on how the recent Middle East conflict has impacted inflation. The OECD is also set to release its economic growth forecast for Korea. The Financial Services Commission will hold an advisory meeting on responding to AI security threats.
European markets watch U.S.-Iran MOU developments
Major European stock markets closed mixed on the 29th (local time). The primary variable for the market was whether the U.S. and Iran would sign a Memorandum of Understanding (MOU) centered on extending a ceasefire, opening the Strait of Hormuz, and resuming nuclear negotiations during the truce.
Politics and Policy Trends
Early voting for local elections underway; Jeonnam leads in turnout
Early voting for the 9th Nationwide Simultaneous Local Elections and parliamentary by-elections began on the 29th for a two-day period. As of 3:00 PM on the 29th, the national voter turnout was 8.15%, with Jeonnam recording the highest at 16.66% and Daegu the lowest at 6.35%. This is 0.9 percentage points higher than in 2022.
Polling blackout begins; Seoul mayoral race remains neck-and-neck
The "blackout" period, which prohibits the publication of opinion polls, began on the 28th, making it difficult to gauge real-time trends. The Seoul mayoral race, the biggest battleground for the 6/3 local elections, remains a dead heat between Democratic Party candidate Jung Won-oh and People Power Party candidate Oh Se-hoon, with surveys ranging from outside the margin of error to a statistical tie.
First nationwide election under the Lee Jae-myung administration
This local election is seen as more than just choosing local officials; it is a critical signal that will determine the government's future policy direction. It is expected to serve as a litmus test for the competitiveness of both ruling and opposition parties and the public's confidence in the administration.
Entertainment News
There is no notable entertainment news for today.
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