South Korea

China’s men’s national football team opened the EAFF E-1 Championship with a 0-3 loss to South Korea. Observers criticized China’s performance, citing superior skill from South Korea and disappointing defensive tactics. China faces Japan next, with concerns about a repeat of their previous seven-goal defeat.

Xiaomi has launched its first physical store, “Xiaomi Home,” in Seoul, South Korea, marking a key expansion in its global retail strategy. Offering a range of products and after-sales support, the store mirrors its domestic counterparts. The company is incentivizing purchases with free delivery and installation services. This move, part of Xiaomi’s “New Retail” strategy, aims to expand internationally, with plans for 10,000 Mi Homes and a doubling of international revenue within the next few years.

South Korea is implementing major labor reforms, including a 4.5-day workweek with no pay cuts, reducing weekly work hours from 52 to 48. The government aims to lower average annual working hours to below the OECD average by 2030. Other changes include expanded annual leave eligibility and promoting flexible work arrangements like adjusted schedules and remote work, with incentives for businesses. These policies aim to improve work-life balance and align with international standards.

South Korea anticipates a summer cabbage shortage, potentially mirroring last year’s “golden cabbage crisis.” Production is expected to drop significantly due to crop damage, pests, and unfavorable weather, predicting a 24.5% decrease from average. The government is taking proactive measures, including record cabbage reserves and increased seedling supplies, to counter price increases and supply chain issues, particularly during the peak period of July-October. The cost of a single cabbage could significantly impact household budgets.