Asia News Summary: South Korea Declares Unexpected Election, Plus Additional Updates
Here are some stories from across Asia that you might have overlooked this week.
TroibNews 
Here are a few stories from around Asia you may have missed this week.
South Korea Sets Election Date for June 3
On Tuesday, South Korea announced that June 3 will be the date for a snap presidential election, a decision prompted by the recent removal of impeached leader Yoon Suk-yeol from office. “The government intends to designate June 3 as the 21st presidential election day," Acting President Han Duck-soo stated during a cabinet meeting. Opposition leader Lee Jae-myung and Han Dong-hoon, a former leader of the ruling People Power Party, have announced their candidacies for the presidency.
China’s Shenzhou-19 Crew to Return Around May 1
According to a report from China Media Group on Monday, the crew of Shenzhou-19 is expected to return to Earth around May 1. The team—Cai Xuzhe, Song Lingdong, and Wang Haoze—has spent more than 150 days on the China Space Station conducting various scientific experiments and tests. The Shenzhou-19 crewed spaceship was launched atop a Long March-2F carrier rocket from the Jiuquan Satellite Launch Center in northwest China on October 30, 2024.
Volcano Erupts in Central Philippines
Mount Kanlaon in central Philippines experienced an explosive eruption on Tuesday morning, according to the Philippine Institute of Volcanology and Seismology. “An explosive eruption occurred at the summit vent of Kanlaon that began at 5:51 a.m. on Tuesday," Ma. Antonia Bornas, the institute's chief of volcano monitoring and eruption prediction, explained in a radio interview. The advisory from the institute noted, “is producing a voluminous bent plume approximately 4,000 meters tall drifting southwest.” "Pyroclastic density currents descended the slopes on the general southern edifice," they added. Both the institute and netizens shared videos of the volcano’s dramatic eruption.
Indonesia’s Rupiah Hits Record Low, Central Bank to Intervene
Following the rupiah's fall to a record low against the dollar, Indonesia’s central bank announced plans to intervene in the markets to ensure currency stability. Bank Indonesia's senior deputy governor Destry Damayanti remarked to Reuters that movements in domestic bonds indicated ongoing confidence among investors in the sovereign bond market. On Wednesday morning, the rupiah reached an all-time low of 16,970 per dollar, a consequence Destry attributed to the escalating global trade war.
India Not to Raise Petrol, Diesel Retail Prices Despite Tax Hike
India’s Oil Minister Hardeep Singh Puri announced on Monday that the increased excise duty on petrol and diesel would not be transferred to consumers. This decision is aimed at enhancing the government's tax collection amidst declining global oil prices. Puri explained at a press conference that the hike in excise duty would be absorbed by state-controlled fuel retailers. "Higher tax collection from the state-owned and the private fuel retailers would help New Delhi partly compensate state companies that incurred a loss of 413.80 billion rupees in 2024/25 on local sales of cooking gas at below market rates," he stated.
Thomas Evans contributed to this article for TROIB News
South Korea Sets Election Date for June 3
On Tuesday, South Korea announced that June 3 will be the date for a snap presidential election, a decision prompted by the recent removal of impeached leader Yoon Suk-yeol from office. “The government intends to designate June 3 as the 21st presidential election day," Acting President Han Duck-soo stated during a cabinet meeting. Opposition leader Lee Jae-myung and Han Dong-hoon, a former leader of the ruling People Power Party, have announced their candidacies for the presidency.
China’s Shenzhou-19 Crew to Return Around May 1
According to a report from China Media Group on Monday, the crew of Shenzhou-19 is expected to return to Earth around May 1. The team—Cai Xuzhe, Song Lingdong, and Wang Haoze—has spent more than 150 days on the China Space Station conducting various scientific experiments and tests. The Shenzhou-19 crewed spaceship was launched atop a Long March-2F carrier rocket from the Jiuquan Satellite Launch Center in northwest China on October 30, 2024.
Volcano Erupts in Central Philippines
Mount Kanlaon in central Philippines experienced an explosive eruption on Tuesday morning, according to the Philippine Institute of Volcanology and Seismology. “An explosive eruption occurred at the summit vent of Kanlaon that began at 5:51 a.m. on Tuesday," Ma. Antonia Bornas, the institute's chief of volcano monitoring and eruption prediction, explained in a radio interview. The advisory from the institute noted, “is producing a voluminous bent plume approximately 4,000 meters tall drifting southwest.” "Pyroclastic density currents descended the slopes on the general southern edifice," they added. Both the institute and netizens shared videos of the volcano’s dramatic eruption.
Indonesia’s Rupiah Hits Record Low, Central Bank to Intervene
Following the rupiah's fall to a record low against the dollar, Indonesia’s central bank announced plans to intervene in the markets to ensure currency stability. Bank Indonesia's senior deputy governor Destry Damayanti remarked to Reuters that movements in domestic bonds indicated ongoing confidence among investors in the sovereign bond market. On Wednesday morning, the rupiah reached an all-time low of 16,970 per dollar, a consequence Destry attributed to the escalating global trade war.
India Not to Raise Petrol, Diesel Retail Prices Despite Tax Hike
India’s Oil Minister Hardeep Singh Puri announced on Monday that the increased excise duty on petrol and diesel would not be transferred to consumers. This decision is aimed at enhancing the government's tax collection amidst declining global oil prices. Puri explained at a press conference that the hike in excise duty would be absorbed by state-controlled fuel retailers. "Higher tax collection from the state-owned and the private fuel retailers would help New Delhi partly compensate state companies that incurred a loss of 413.80 billion rupees in 2024/25 on local sales of cooking gas at below market rates," he stated.
Thomas Evans contributed to this article for TROIB News
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