Lotte Card Q1 Operating Profit Jumps 201% to 41.5 Billion Won Lotte Card said Tuesday it posted 41.5 billion won ($415억원) in operating profit for the first quarter, up 201.4% from 13.8 billion won a year earlier. The company also reported a rebound in membership after last year’s large-scale personal data leak. First-quarter membership totaled 9,566,000, up 10,000 from a year earlier. Asset quality indicators improved as well. As of the end of March, the delinquency transition rate — the share of performing loans that become loans overdue by at May 6, 2026

IBK Research Chief Warns Small Firms Face Failures; Calls for More Productive Lending 최근 고환율·고유가 등 대외 여건이 악화되면서 한국 경제의 허리인 중소기업들이 전례 없는 위기에 직면했다. 조달 비용 상승으로 마진은 줄고 이자조차 감당하기 어려운 한계기업이 속출하고 있다. Seo Gyeong-ran, head of the IBK Economic Research Institute, said the biggest challenge facing South Korea is what she called a “downward chain reaction of polarization.” She said global bloc tensions are widening the gap between export industries and domestic-demand industries, deepening differences in co May 6, 2026

IBK Economic Research Chief: AI-Driven Industry Shift Could Be Turning Point for SMEs Seo Gyeong-ran, head of the IBK Economic Research Institute, is known as a specialist with experience across finance and industry. Building on that background, she is pushing research beyond economic analysis to examine the role of policy finance and link it to the bank’s growth strategy. Seo earned a doctorate in business administration from the University of Seoul and began her career as a researcher at the Korea Development Institute, or KDI. For more than 20 years, she has analyzed fi May 6, 2026

South Korea’s Q1 Exports Hit Record as Semiconductor Shipments Jump 139% South Korea posted its strongest first-quarter exports on record, helped by an artificial intelligence investment boom and a rebound in the semiconductor cycle. But the surge was heavily concentrated in chips — especially memory — raising concerns about the stability of the country’s export structure. The Ministry of Trade, Industry and Energy said Tuesday that first-quarter exports rose 37.8% from a year earlier to $219.9 billion, the highest ever for the period. The ministry cited expa May 6, 2026

South Korea’s Q1 Exports Hit Record as DRAM and NAND Shipments Surge AI server chip exports surged in the first quarter, pushing South Korea’s DRAM exports up 249.1% and NAND flash exports up 377.5%, according to newly compiled government data. With exports reaching a record high for the period, officials and analysts said South Korea could rise to fifth in the global export rankings, ahead of Japan and Italy. The Ministry of Trade, Industry and Energy said Tuesday it revised its MTI product codes for export-import analysis and released an assessment of 20 May 6, 2026

Justice Minister Jeong Seong-ho urges caution on special counsel bill over alleged prosecutorial fabrication The ruling Democratic Party is pushing a bill to appoint a special counsel to investigate allegations of fabricated investigations and indictments by prosecutors, but Justice Minister Jeong Seong-ho said the measure requires a cautious approach. Speaking at a full meeting of the National Assembly’s Legislation and Judiciary Committee on May 6, Jeong responded to a question from People Power Party lawmaker Yoon Sang-hyun, who asked whether Jeong, “as a conscientious legal professional,” wou May 6, 2026

Japan Begins Talks to Export Used Destroyer Escorts to the Philippines Japan has begun full-scale talks with the Philippines on exporting used Maritime Self-Defense Force destroyer escorts, the first such ship-export discussions since Tokyo effectively allowed exports of defense equipment with lethal capability last month. The move comes as Japan accelerates defense sales and security ties in Southeast Asia, raising the prospect of competition with South Korean defense firms. The Yomiuri Shimbun, Nikkei and Asahi Shimbun reported Tuesday that Japanese Defe May 6, 2026

Seoul mayoral rivals Jung Won-oh and Oh Se-hoon trade barbs over housing supply Democratic Party candidate Jung Won-oh and People Power Party candidate Oh Se-hoon, both running for Seoul mayor, campaigned for older voters on May 6 by each calling himself “Seoul’s eldest son,” while continuing to clash over housing supply. The two appeared together in the morning at the Seoul chapter’s 54th Parents’ Day event of the Korea Senior Citizens Association at Jangchung Arena in Jung-gu. Oh arrived first, and Jung came in slightly after the opening time. They greeted each ot May 6, 2026

Seoul mayoral candidate Oh Se-hoon vows 130,000 public homes by 2031, expands long-term lease housing Oh Se-hoon, the People Power Party’s candidate for Seoul mayor, said he would supply about 130,000 public housing units by 2031 and expand long-term lease housing designed to reduce fears of jeonse fraud. Oh announced the pledge Tuesday as part of what his campaign called a comprehensive plan to strengthen a “housing mobility safety net.” The plan focuses on three pillars — expanding housing supply, boosting financial support and lowering housing costs — to stabilize housing for residents May 6, 2026

Korea Mint’s ‘Money Pollock’ Magnet Draws Buzz for Upcycled Banknote Dust A currency-themed merchandise item released by the Korea Minting and Security Printing Corp. is drawing attention online. Posts on online communities and social media have highlighted a “money magnet” sold through the mint’s online store, with particular focus on the “money pollock magnet.” Pollock has long been regarded as a symbol of protection, with its clear eyes said to watch over the home and its open mouth associated with welcoming good fortune. A tradition of wrapping pollock wit May 6, 2026