[Today's Hot Issues] Ruling Party Adopts Hearing Reports for Kang Shinchul and Kim Seungwon Nominees

[Top 5 Hot Issues]
U.S. Federal Reserve Raises Benchmark Interest Rate
Special Counsel on Election Commission Launches Compulsory Investigation

1. The personnel hearing reports for Kim Seungwon, nominee for Minister of Justice, and Kang Shinchul, nominee for Minister of National Defense, were adopted under the leadership of the ruling party.

The People Power Party either walked out or did not participate, stating that suspicions about lobbying for clinical trial approval, preferential treatment involving the spouse's cooperative, and the son's purchase of commercial property had not been cleared up.

On the 17th, members of the People Power Party's Legislation and Judiciary Committee, including Yoon Sanghyun, held a press conference at the National Assembly regarding the ruling party-led adoption of the confirmation hearing report for Kim Seungwon, nominee for Minister of Justice. Photo by Yoon Dong-joo

2. The U.S. Federal Reserve has raised its benchmark interest rate for the first time in three years and two months.

The Federal Reserve increased its benchmark rate by 0.25 percentage points, adjusting it to an annual rate of 3.75–4.00%. Hints of further rate hikes pushed the won–dollar exchange rate up to the 1,379 won range during trading hours and heightened the burden on the Bank of Korea's policy rate decision.

3. The special counsel investigating the National Election Commission conducted raids on nine commission offices, initiating a forced investigation.

The special counsel, which was established to investigate the ballot paper shortage during the June 3 local elections, launched its first compulsory investigation ten days after its formation. Probes are expected to expand to a total of 12 allegations, including manipulation of voting statistics, illegal recruitment and promotions, and collusion with private companies.

Kim Minjae, Vice Minister of the Ministry of the Interior and Safety and head of the Preparatory Task Force for the establishment of the Serious Crimes Investigation Agency, is holding a briefing on the candidate for the first director of the Serious Crimes Investigation Agency at the Government Seoul Building in Jongno-gu, Seoul, on the 17th. Photo by Jo Yongjun

4. The Ministry of the Interior and Safety addressed various controversies raised by the political community regarding Kim Jiyong, the inaugural candidate for Chief of the Serious Crime Investigation Agency.

Kim Minjae, Vice Minister of the Ministry, stated, "The Serious Crime Investigation Agency must faithfully carry out the purpose of prosecution reform and put the protection of citizens' human rights as its highest value. We determined that Kim, who possesses investigative expertise, fairness and neutrality, and organizational management capabilities, is the right person to serve as the first chief." He added, "The agency should be launched without a leadership vacancy."

5. Nearly eight out of ten companies that will close for the upcoming Chuseok holiday are scheduled to take four days off, according to a recent survey.

According to the "2026 Chuseok Holiday Status Survey" conducted by the Korea Employers Federation on 601 companies nationwide with five or more employees, the largest proportion of companies—76.5%—plan to take a four-day break. The share of companies providing Chuseok holiday bonuses was 61.0%, a 2.0 percentage point decrease from last year.

This content was produced with the assistance of AI translation services.