The Minute to Read (Weekdays) series provides a quick overview of significant events in Korea everyday, conveniently condensed into a one-minute read. Here’s a recap of what happened yesterday: May 7.
Seoul court delays Lee Jae-myung’s election law retrial until after election
The Seoul High Court has postponed Democratic Party presidential candidate Lee Jae-myung’s retrial for violating the election law from May 15 to June 18, after the June 3 presidential election. The court cited fairness and equal campaigning opportunity as reasons, following pressure from Lee’s legal team and political allies who accused the judiciary of election interference.
Samsung, SK hynix move toward hybrid bonding for next-gen HBM
Samsung Electronics and SK hynix are planning to adopt hybrid bonding technology for their next-generation high-bandwidth memory (HBM), marking a potential shift away from thermocompression (TC) bonding methods currently dominated by South Korean firms like Hanmi Semiconductor and SEMES. As U.S.-based Applied Materials enters the hybrid bonding market and partners with Besi, the global semiconductor equipment supply chain is poised for major realignment, with fierce competition expected.
Candidates woo voters with tax cuts, but offer no plan
South Korean presidential candidates are pledging to raise the basic income tax deduction for the first time in 16 years, aiming to ease the burden on wage earners and the self-employed. However, analysts warn the move could worsen the country’s fiscal deficit — already strained by tax shortfalls — as neither party has proposed ways to offset the loss in revenue. Critics call the tax cut pledges populist and fiscally irresponsible, urging structural reform instead.
One minute, that’s all it takes to know about Korea. Click here ☞ https://page.stibee.com/subscriptions/305897
