KOSPI Nears 7,400 as Analysts See Room for 8,000 to 9,000 on AI, Chip Boom The KOSPI’s ceiling appeared to give way as the benchmark surged to just below 7,400. The index was up nearly 450 points from the previous session, extending a rally that has accelerated since it closed above 6,000 on Feb. 25. That move came about 50 trading days ago. Despite headwinds cited by the market — war in the Middle East, a weakening real economy and concerns about an AI bubble — brokerage research chiefs said the rally could continue into the second half, with some projecting May 6, 2026

Korea’s Big Drugmakers Post Strong Q1 Gains, but Face Price-Cut Pressure in H2 South Korea’s leading traditional drugmakers are extending solid growth in the first quarter, with operating profit rising by double digits from a year earlier. Industry officials said Tuesday that Yuhan Corp., GC Biopharma and Chong Kun Dang Pharmaceutical Corp. each posted double-digit operating-profit growth in the January-March period from a year earlier. Yuhan reported consolidated first-quarter revenue of 526.8 billion won and operating profit of 8.8 billion won, up 7.2% and 37 May 6, 2026

People Power Party Opposes Ruling Party’s Special Counsel Bill on Dropping Charges, to Skip Constitutional Vote The People Power Party on May 6 adopted a resolution opposing the Democratic Party’s proposed “special counsel bill on dropping charges.” After a party lawmakers’ meeting at the National Assembly, floor deputy chief whip Yoo Sang-beom told reporters, “At today’s meeting, People Power Party lawmakers resolved to oppose the unconstitutional and illegal special counsel aimed at dropping charges.” The resolution calls for: opposition to the Democratic Party’s bill; opposition to “all unconst May 6, 2026

Civic Group Urges Seoul to Disclose Why It Raised Height Limits for Sewoon 4 Redevelopment The Citizens' Coalition for Economic Justice on Tuesday urged the Seoul city government to disclose how and why it changed height standards for the redevelopment of Sewoon District Zone 4, near Jongmyo Shrine in Jongno-gu.  The group said it filed a freedom-of-information request seeking internal review materials, reports, alternative-plan reviews and approval documents that would show the basis for raising height limits along Jongno and the Cheonggyecheon stream in Zone 4. It also filed May 6, 2026

Seoul Mayor Candidate Oh Se-hoon Blames Lee Jae-myung Government, Democrats for Housing Woes Oh Se-hoon, a candidate for Seoul mayor, sharply criticized the Lee Jae-myung government and the Democratic Party’s real estate policies in a Facebook post on Tuesday. Responding to Democratic Party claims that the Seoul city government is to blame for recent instability in home prices and the monthly and long-term rental markets, Oh said, “The cause of this real estate hell is the Lee Jae-myung government and the Democratic Party.” Oh described the party’s approach as a “failed po May 6, 2026

South Korea’s Kospi Hits Record Close After Briefly Topping 7,400 The Kospi extended its rally after the once-unthinkable “7,000” level became reality, briefly topping 7,400 during the session and setting another record. Gains eased late in the day as profit-taking emerged. According to the Korea Exchange on May 6, the Kospi closed up 447.57 points, or 6.45%, at 7,384.56. It opened at 7,093.01, up 156.02 points, or 2.25%, from the previous session, touched the 7,400 level, then gave back part of its advance to finish in the 7,300 range. Foreign investo May 6, 2026

Yulchon Expands Audit Board Pre-Consulting and Audit Review Team 법무법인(유) 율촌은 감사원과 중앙부처·지방자치단체·공공기관의 사전컨설팅 제도가 기업과 이해관계자까지 확대·활성화되는 흐름에 맞춰 기업의 행정 리스크를 종합 지원하기 위해 조직을 ‘감사원 사전컨설팅&감사 진단팀’으로 확대 개편하고 고도화된 서비스를 본격화한다고 6일 밝혔다. 사전컨설팅은 관공서가 행정업무를 집행하는 과정에서 처분이나 조치 이전 단계에 감사원에 의견을 구하는 제도다. 법령이나 규정이 불명확하거나 현실과 맞지 않고 선례가 없어 이견이나 다툼이 생겼지만 감사 부담으로 판단이 어려운 경우, May 6, 2026

Opinion: Self-Approved Executive Pay Raises and Self-Directed Dropping of Charges Allowing a controlling shareholder who also serves as a director to vote on a shareholders meeting resolution setting directors’ compensation is a classic conflict of interest. Courts and prevailing views long allowed a shareholders meeting — even with the controlling shareholder participating — to set an overall cap on total directors’ pay, with the board later deciding each director’s amount. That structure, however, left room for a board formed by the controlling shareholder to set tha May 6, 2026

Trump Weighs 25% Tariff on EU Cars, Opening U.S. Market Fight for Korean and Japanese Brands The U.S. auto market is on edge as Washington signals it may impose a 25% tariff on passenger and commercial vehicles from Europe. With European car prices likely to rise in the United States, industry watchers say Korean and Japanese automakers could try to capture any opening. Industry officials said Tuesday that President Donald Trump is reviewing a 25% tariff on European-made passenger cars. Last year, the United States and the European Union agreed to cut tariffs on some items, inclu May 6, 2026

Hyundai Motor Group wage talks begin as unions seek 30% profit bonus, AI job protections Hyundai Motor and Kia are moving into full-scale 2026 wage and collective bargaining talks, with both unions pressing for a performance bonus equal to 30% of last year’s earnings and measures to protect jobs as artificial intelligence is introduced. The talks come as automakers face pressure from the Middle East war and U.S.-driven tariff impacts, and as global rivals intensify productivity competition. Industry officials have warned that conceding to union demands could weaken Hyundai’s May 6, 2026