Shipbuilding Quality Manager Lee Yoo-beom Wins Gold Tower Order of Industrial Service Lee Yoo-beom, quality management director at Jiseung ENG, a partner company of HD Hyundai Heavy Industries, received the Gold Tower Order of Industrial Service, the top honor in the government’s Labor Day awards, for nearly five decades of work in shipbuilding focused on quality innovation and passing on skills. The Ministry of Employment and Labor said it held the 2026 Labor Day Government Awards Ceremony on Tuesday at Luna Miele in Seoul’s Yeouido district, presenting medals, commendati May 6, 2026

Vietnam Sends Seasonal Farm Workers to South Korea as Mandatory Insurance Rules Tighten Vietnam’s Dong Thap Province, Can Tho city and Dak Lak Province have been sending seasonal workers to South Korea in a steady stream, with the workers headed to agricultural jobs for months-long stints. Many are also expected to return with experience in more advanced farming techniques. Vietnamese media including VnExpress reported that on May 5, the Dong Thap Employment Service Center held a send-off for 206 workers departing for South Korea. The group is to travel to Yeoncheon in Gyeon May 6, 2026

Korea to Sell Public Growth Fund With Tax Breaks and Loss Backstop, Testing Policy-Fund Model A public-participation National Growth Fund, promoted with what officials call unprecedented tax and loss-support benefits, will go on full sale later this month. The fund is designed to address shortcomings of the earlier New Deal fund and strengthen incentives, but its success will hinge on whether it draws real inflows and delivers results. The Financial Services Commission said on the 6th that the Public Participation Growth Fund will be sold for three weeks, from the 22nd throu May 6, 2026

Top 10 South Korean Brokerages’ Q1 Net Profit Nearly Matches Big Five Banks South Korea’s securities industry has narrowed the earnings gap with banks, buoyed by a strong stock market that has lifted trading and brokerage revenue. On the 6th, the financial investment industry and FnGuide said the combined first-quarter net profit of the 10 largest brokerages by equity totaled 4.4656 trillion won, bringing results to roughly the level of the banking sector. By firm (consensus estimates), Mirae Asset Securities posted the largest net profit at 1.0332 trillion w May 6, 2026

Activist Fund Managers Reaped Big Dividends; KCGI Paid Out 100% of Profit, Align 63% Domestic asset managers known for activist investing posted large cash gains from dividends last year, helped by rising share prices at companies they targeted. Align Partners, one of the most aggressive activist firms, paid out more than 15 billion won in cash dividends. According to the financial investment industry on April 30, Align Partners paid 15.1 billion won in cash dividends out of about 23.9 billion won in net profit last year, a payout ratio of 63%. The dividends effectively w May 6, 2026

Kakao Pay posts record Q1 operating profit, extends streak of profitability Kakao Pay said it posted its highest-ever quarterly results in the first quarter, driven by growth across its payments, financial services and platform businesses. In a regulatory filing on Tuesday, the company reported consolidated revenue of 300.3 billion won and operating profit of 32.2 billion won for the January-March period. That was up 41.7% and 630.9%, respectively, from a year earlier, both record highs. Operating margin rose to 10.7%, and net profit margin reached 11.6%, both i May 6, 2026

KOSPI Breaks 7,000 for First Time as Rally Broadens Beyond Semiconductors South Korea’s stock market has entered the “7,000 KOSPI” era. The benchmark KOSPI’s first-ever move above 7,000 is more than a round-number milestone, signaling a shift from the long-running “box market” that had weighed on sentiment. The advance comes despite concerns over foreign outflows, geopolitical risks and low-growth worries, suggesting investors are reassessing the market. Semiconductors have led the rally. Surging demand for AI chips, centered on Samsung Electronics and SK hy May 6, 2026

Trump Raises Pressure on Iran Over Hormuz; Lee Jae-myung Government Urged to Set Clear National-Interest Line U.S. President Donald Trump is again increasing pressure in the Middle East. The United States, targeting Iran, has even raised the possibility of controlling the Strait of Hormuz as it steps up military and diplomatic pressure. The strait is a key route for global oil shipments and is vital for South Korea, since a large share of the Middle Eastern crude it imports passes through it. The situation is no longer just a regional dispute; it is becoming a broader crisis tied to Washington’s May 6, 2026

How a Rising Gen Z Democratic Operative Became a Pro-Iran Activist Abroad "They all died fighting for fascism, genocide, pedophilia and cannibalism." Carla Walsh, a 22-year-old American pro-Iran activist, posted that message on X about four U.S. troops who were killed in a drone attack during the Iran war in March. On May 5 (local time), she also posted on X a statement attributed to Iran’s military that warned the United Arab Emirates that the UAE, described as “Islamic land,” should not become a base for U.S. and “Zionist” (Israeli) forces and equi May 6, 2026

Lee Jae-myung stays cautious on Middle East war, focuses on constitution and farmland law President Lee Jae-myung maintained a cautious stance Tuesday, offering no substantive public comment on the fast-changing situation in the Middle East. At a Cabinet meeting and emergency economic review session at Cheong Wa Dae, Lee received a briefing from Foreign Minister Cho Hyun on a fire involving a South Korean ship in the Strait of Hormuz and on the course of the Middle East war. On the ship incident, Cho said a fire broke out at about 8:40 p.m. on May 4 but was quickly put ou May 6, 2026