South Korea ruling party wins most local seats but loses Seoul mayoralty

South Korea's ruling Democratic Party has secured a majority of local government seats in nationwide elections, though it is projected to lose the crucial Seoul mayoralty to the opposition People Power Party. The loss in Seoul is attributed to ballot shortages and higher-than-expected voter turnout.

In a significant development for the nation's leadership, South Korean President Lee Jae Myung has nominated Han Seong-sook, the current minister for small and midsize businesses and startups, as the country's next prime minister. Han, who is also a former CEO of Naver, is poised to become South Korea's first female prime minister in two decades if confirmed. Her nomination is seen as a move to spearhead the nation's anticipated AI transformation.

Separately, South Korea's Labour Minister Kim Young-hoon has called on major technology firms, including Samsung Electronics, to share the excess profits generated from the artificial intelligence boom with their suppliers and employees. Minister Kim expressed concern that these gains risk exacerbating inequality and proposed initiating social dialogue to establish new profit distribution rules. He explicitly rejected claims that the government would intervene directly in this matter.