[Minute to Read] Democratic Party pushes election law change favoring Lee Jae-myung

The Minute to Read (Weekend) series provides a quick overview of significant events in Korea from the week, conveniently condensed into a one-minute read. Here’s a recap of what happened this week: May 12-16.

Lee Jae-myung, the Democratic Party of Korea’s presidential candidate, campaigns on the car-free street of M-Park in Geoje Gyeongsangnam-do, on the afternoon of May 14. /Nam Kang-ho

Democratic Party pushes election law change favoring Lee Jae-myung

On May 14, the Democratic Party of Korea advanced a bill to amend the Public Official Election Act during a full session of the National Assembly’s Legislation and Judiciary Committee. The revision removes the word “act” from the legal definition of disseminating false information under election law. If the bill passes a plenary vote, Democratic Party presidential candidate Lee Jae-myung—whose case was overturned by the Supreme Court and sent back to a lower court for retrial on May 1—could avoid prosecution, as the revised clause would no longer apply. Analysts say that if Lee and the Democratic Party win the upcoming presidential election, they are likely to expedite the amendment, framing the result as a public mandate. The party had previously urged the judiciary to delay Lee’s retrial, originally set for May 15, until after the election. If the legislative schedule proceeds as planned, Lee could be cleared of the election law charge, with few institutional constraints remaining to counter the Democratic Party’s dominance, especially after the loss of the presidential veto. Separately, the party submitted a bill calling for a special counsel to investigate Supreme Court Chief Justice Cho Hee-dae, alleging the court’s ruling against Lee constituted election interference and judicial overreach. Despite formal notices of nonattendance from Chief Justice Cho and other justices, the committee held a hearing, citing the need to clarify the full circumstances of the ruling.

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Samsung introduces Galaxy S25 Edge with slimmer design, flagship specs

Samsung Electronics unveiled the Galaxy S25 Edge on May 13, adding a sleek, ultra-thin model to its flagship smartphone lineup. While it shares core specifications with the Galaxy S25 released in January, the S25 Edge is 19% thinner and lighter, reflecting Samsung’s renewed focus on minimalist, high-performance design. This marks the company’s first major flagship launch since the Galaxy Z Flip in 2020. Introduced during a virtual event at 9 a.m. via Samsung’s website, the phone was promoted as “the slimmest yet most powerful and durable” in Galaxy S series history. As smartphone innovation slows and markets mature, industry leaders like Samsung and Apple are shifting toward delivering top-tier performance in slimmer, more compact devices. The S25 Edge is expected to intensify competition in the ultra-thin smartphone space. Samsung also plans to release a more compact Galaxy Z Fold later this year, while Apple is reportedly preparing to launch the ultra-slim “iPhone 17 Air” in September.

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Shinsegae Chairman meets Trump at Qatar state dinner

Chung Yong-jin, chairman of South Korea’s Shinsegae Group, met with U.S. President Donald Trump during Trump’s visit to Qatar, part of his broader tour of the Middle East. The two exchanged greetings and shook hands ahead of a dinner hosted on May 14 in Doha by Qatari Emir Sheikh Tamim bin Hamad Al Thani in honor of Trump. Chung was among a select group of guests invited to the high-profile event and was seen conversing with both leaders prior to the meal. According to individuals familiar with the matter, the Qatari government extended the invitation to Chung in recognition of his longstanding personal ties with the Trump family. His inclusion was reportedly arranged to bring a familiar presence to the diplomatic gathering. Chung’s relationship with Trump spans several years. In December, while Trump was still president-elect, the two met at Trump’s Mar-a-Lago resort in Florida. Chung later attended Trump’s inauguration ceremony and, more recently, hosted Trump’s eldest son, Donald Trump Jr., in South Korea.

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Homeplus store in Seoul. /News1

Homeplus to terminate 17 leases as restructuring pressures mount

Homeplus, South Korea’s second-largest hypermarket chain, is on the brink of shuttering 26 stores across the country—more than 20% of its total 126 locations. The closures include nine outlets previously scheduled to close before the company entered court receivership in March, as well as 17 additional stores where recent rent negotiations with landlords have fallen through. Since acquiring Homeplus in 2015, private equity firm MBK Partners has pursued a sale-and-leaseback strategy to improve profitability. Under this approach, the company sold off prime store properties to raise capital and then leased them back to maintain operations. As a result, Homeplus now rents 68 of its 126 stores—a significantly higher ratio than competitors Emart and Lotte Mart, both of which own a majority of their retail sites. Mounting lease obligations, estimated at nearly 400 billion won ($285 million) annually, have strained Homeplus’s finances and prompted the company to seek rent reductions as part of its broader restructuring efforts. The collapse of rent negotiations at 17 locations has fueled concerns about large-scale closures and potential job losses.

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Hoban raises stake in Hanjin KAL, fueling talk of power struggle

Shares of Hanjin KAL, the holding company of Korean Air, soared by the daily upper limit on May 13 following a regulatory filing that revealed Hoban Group, its second-largest shareholder, had quietly increased its stake to the mid-18 percent range. The stock rally, which began at market open and continued through the close, was triggered by Hoban’s May 12 disclosure that it had expanded its holdings, citing “purely investment purposes.” Market watchers, however, interpreted the move as a potential signal of renewed efforts to challenge control of one of South Korea’s most prominent conglomerates. Hoban has taken a more assertive stance in recent months. In addition to gradually increasing its stake since last year, the group made headlines in March when it voted against a proposal to raise executive compensation—its first public act of dissent. Hanjin Group has not issued an official response, but sources familiar with the company say it continues to maintain a “stable majority” of aligned shareholders. These include long-time allies such as Delta Air Lines, which holds a 14.9 percent stake, and the state-owned Korea Development Bank (KDB), which backed Korean Air’s acquisition of rival Asiana Airlines. Despite this, Hanjin is reportedly working to further consolidate its position by courting additional allies, including LS Group, in a bid to reinforce its control.

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China quietly acquired land in central Seoul under diplomatic immunity

China’s government quietly acquired more than 4,100 square meters of land in a strategically sensitive area of central Seoul in 2018—without notifying South Korean authorities or paying acquisition taxes—by invoking diplomatic immunity under international law. The deal marks the first publicly known case of the Chinese government purchasing land in South Korea. Despite the site’s proximity to key government and military installations, South Korean law imposes no restrictions on land acquisitions by foreign governments or private individuals. “There is no law requiring foreign embassies to obtain separate approval or report land purchases to the government,” a Foreign Ministry official told reporters on May 15. The official added that while land purchases are not subject to government oversight, any new construction on the site would require prior consultation with South Korean authorities regarding the building’s intended purpose.

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Son Heung-min accuses woman of blackmail over pregnancy claim

Two individuals have been taken into custody for allegedly attempting to extort money from South Korean national footballer Son Heung-min, 33, who currently plays for Tottenham Hotspur. The Gangnam Police Station in Seoul said on May 15 that it had arrested a woman in her 20s, identified as A, and a man in his 40s, identified as B, on charges of blackmail and attempted blackmail. Authorities said A allegedly threatened Son in June of last year, claiming she was pregnant with his child. B is accused of approaching Son’s representatives in March and demanding payment. Son’s representatives filed a criminal complaint with police on May 7. Investigators sought arrest warrants on May 12, which were granted by the court the following day.

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Son Heung-min. /Newsis

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