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

Supreme Court Confirms Two-Year Prison Sentence for Cho Hyun-bum, CEO of Hankook & Company The Supreme Court has confirmed a two-year prison sentence for Cho Hyun-bum, CEO of Hankook & Company, who was charged with embezzlement and breach of trust involving approximately 2 billion won (about $1.5 million). On May 8, the Supreme Court's first division, led by Justice Ma Yong-joo, upheld the lower court's ruling that sentenced Cho to two years in prison under the Act on the Aggravated Punishment of Specific Economic Crimes. Initially, prosecutors alleged that Cho embezzled aroun May 8, 2026

GC Green Cross Reports 1st Quarter Operating Profit of 11.7 Billion Won Driven by Aliglo Sales Thanks to the explosive growth of its blood product Aliglo, GC Green Cross reported a nearly 50% increase in operating profit for the first quarter of this year. The company anticipates that the quarterly sales growth of Aliglo will continue throughout the year, especially after the U.S. customs policy announced in April exempted plasma-derived products from tariffs, significantly alleviating uncertainties in the local market.On May 8, GC Green Cross announced that its consolidated financial sta May 8, 2026

SK Chemicals Reports 464.3% Increase in Q1 Operating Profit SK Chemicals has reported strong performance in its key business sectors during the first quarter of 2026, despite a challenging economic environment. The company announced on May 8 that it achieved a standalone revenue of 385.7 billion won and an operating profit of 21.2 billion won for the first quarter. This marks a 14.2% increase in revenue and a remarkable 464.3% rise in operating profit compared to the previous quarter.SK Chemicals attributed its growth to increased sales in its core b May 8, 2026

Investigation Underway into Fire on HMM Namoo Vessel A fire caused by an explosion on the HMM Namoo vessel, which was docked in the Strait of Hormuz, is now under investigation. According to HMM, a government investigation team boarded the vessel at 3 PM KST on May 8 at Drydocks World Dubai, the largest ship repair yard in the Middle East. The team consists of three investigators from the Central Maritime Safety Tribunal and four fire investigation experts from the National Fire Agency. The investigation will focus on whether the fire was May 8, 2026

Shinhan Bank Partners with Webcash to Launch Global Cash Management Service Shinhan Bank is set to introduce a global integrated cash management service for companies expanding overseas.On May 8, Shinhan Bank announced that it has signed a memorandum of understanding with fintech firm Webcash to develop an integrated cash management service and enhance its cash management services (CMS). Webcash is a leading domestic fintech company providing business-to-business (B2B) financial solutions.The signing ceremony, held on May 7 at Webcash's headquarters in Yeongdeungpo, Seo May 8, 2026

Government Plans Renewable Energy Roadmap for Agriculture by July The South Korean government is set to restructure the energy framework for agriculture and rural areas to achieve "oil price worry-free agriculture." The plan aims to create a long-term roadmap connecting renewable energy-based energy independence to farm income. On May 8, the Ministry of Agriculture, Food and Rural Affairs announced the launch of a task force (TF) to develop a strategy for the energy transition in agriculture and rural areas during its first meeting at the Government Sejo May 8, 2026

Government Allocates Record 104,000 Foreign Workers for Agriculture in First Half of 2026 The South Korean government is addressing labor shortages in agriculture by allocating a record 104,000 foreign workers for the first half of 2026 and increasing support for domestic labor. On May 8, Minister of Agriculture, Food and Rural Affairs Song Mi-ryeong visited a seasonal foreign labor site in Imsil, North Jeolla Province, to assess working conditions and announce the agricultural labor supply plan for the busy farming season. This year, the government has allocated a total of 10 May 8, 2026