Business and economy

South Korea’s central bank cuts its key interest rate by a quarter percentage point to 2.5%, marking its fourth cut since October, and sharply lowered its 2025 growth forecast to 0.8%, nearly halving the previous projection of 1.5% announced in February after a monetary policy meeting. Share prices rise following the report, with the Kospi gaining 1.7%. (AP)

• https://apnews.com/article/korea-economy-rate-tariffs-trump-d2cf5ea0db7ad02147f144ba50c7ee4b

Disasters and accidents

Four people are killed when a South Korean Navy Lockheed P3-C Orion aircraft crashes into a hill in Pohang, Gyeongsang, South Korea. (Euronews)

• https://www.euronews.com/2025/05/29/south-korean-p3-c-orion-navy-plane-crash-kills-all-four-crew-members-investigation-under-w

Politics and elections

Early voting begins in South Korea, from 6:00 am to 6:00 pm KST on today and tomorrow, with a record early voting turnout rate being observed. (The Straits Times)

• https://www.straitstimes.com/asia/east-asia/south-koreans-begin-early-voting-in-presidential-poll