Jeju Air Reports 644 Billion Won Operating Profit Amid High Oil Prices Jeju Air has reported a second consecutive quarter of profit despite the pressures of rising international oil prices and exchange rates. The airline attributed its performance rebound to improved fuel efficiency through fleet modernization and a recovery in passenger demand. On May 8, Jeju Air announced that it achieved a revenue of 498.2 billion won and an operating profit of 64.4 billion won in the first quarter of this year. This represents a 36.5% increase in revenue compared to the s May 8, 2026

Hana Financial Partners with Kyung Hee University to Support Young Entrepreneurs Hana Financial Group is launching a program to nurture aspiring entrepreneurs to stimulate local youth entrepreneurship. The initiative aims to enhance the startup ecosystem by providing comprehensive support, from AI-based entrepreneurship education to commercialization, market expansion, and investment attraction.On May 8, Hana Financial announced a partnership with Kyung Hee University to recruit participants for the fifth class of the Hana Social Venture University.The Hana Social Venture Un May 8, 2026

Samsung Electronics Union Accepts Government Mediation Ahead of Strike The labor dispute between Samsung Electronics and its union has shifted from a potential clash to a phase of renegotiation. However, the threat of a general strike remains, and tensions could rise again depending on the outcome of upcoming negotiations. On May 8, the union announced it would participate in post-adjustment procedures on May 11-12 at the request of the government. Previously, the union had warned of a general strike on May 21 due to unresolved disagreements over wages and p May 8, 2026

President Lee and Canadian Prime Minister Carney Discuss Strengthening Security and Economic Cooperation On May 8, President Lee Jae-myung spoke with Canadian Prime Minister Mark Carney to discuss enhancing cooperation in security, economy, energy, critical minerals, and advanced industries. Chief Presidential Secretary Kang Yu-jeong reported in a written briefing that the two leaders assessed the smooth implementation of follow-up actions from their summit during the APEC meeting in Gyeongju last year. They agreed on the need for closer collaboration between their countries in achievi May 8, 2026

REIT Stocks Struggle Despite KOSPI Surge, Investors Urged to Differentiate The KOSPI index has recorded a rise of over 77% since the beginning of the year, continuing its bullish trend. However, the listed REIT market appears to be left out of this rally. Experts attribute the decline in investor sentiment to downward pressure from delayed global interest rate cuts and the recent corporate rehabilitation filing by JR Global REIT. They predict that while short-term volatility is inevitable, this situation will lead to a clearer differentiation between quality and May 8, 2026

Park Eun-jung Wins Lawsuit Against Dismissal from Justice Ministry Park Eun-jung, a member of the Justice Innovation Party, has won a court ruling declaring her dismissal from the Justice Ministry during her tenure as unjust. On May 8, the Seoul Administrative Court's Administrative Division 4, led by Judge Kim Young-min, ruled in favor of Park in her lawsuit against the Justice Minister seeking to overturn her disciplinary action. In 2020, while serving as a disciplinary officer at the Justice Ministry, Park was accused of improperly using materials obt May 8, 2026

Insurance Industry Introduces 'Vehicle Odd-Even Special Clause' Offering Up to 2% Discount The insurance industry is set to implement a 'Vehicle Odd-Even Special Clause' in response to the ongoing oil supply crisis. On May 8, the General Insurance Association announced plans to introduce this special clause in line with the recent declaration of an oil resource security crisis under the 'National Resource Security Special Act.' The initiative aims to encourage energy conservation while reflecting the reduced risk of accidents due to decreased vehicle usage in insurance premiums May 8, 2026

Lee Seung-hwan Wins Partial Victory in Lawsuit Over Concert Cancellation The Seoul Central District Court has ruled that the city of Gumi unlawfully canceled singer Lee Seung-hwan's concert venue reservation and ordered the city to pay damages. On May 8, Judge Park Nam-jun of the court's civil division ruled in favor of Lee, his agency Dream Factory, and ticket purchasers in a lawsuit against Gumi City and Mayor Kim Jang-ho. The court ordered Gumi City to pay 35 million won to Lee, 75 million won to his agency, and 1.5 million won to each of the 100 ticket buy May 8, 2026

Special Prosecutors Clear Kim Kwan-young of Charges Related to Insurrection Special prosecutors have cleared Kim Kwan-young, the governor of Jeonbuk Special Self-Governing Province, of charges related to insurrection assistance during the martial law declared on December 3, 2024. On May 8, Kwon Chang-young, head of the second special prosecution team, announced in a press release that the investigation into the allegations against Kim had concluded with no charges filed. The team reportedly delivered a notice of non-prosecution to the Jeonbuk Provincial Office aro May 8, 2026

Im Sung-keun Sentenced to 3 Years for Duty-Related Death of Marine Im Sung-keun, the former commander of the Marine Corps 1st Division, has been sentenced to three years in prison for his role in the duty-related death of Corporal Chae Soo-geun during a rescue operation in July 2023. On May 8, the Seoul Central District Court's Criminal Division 22, led by Judge Jo Hyung-woo, found Im guilty of duty-related manslaughter and violating military law. This sentence is two years lighter than the five-year term sought by the special prosecutor's team investigat May 8, 2026