Big Tech Earnings Beat Expectations, but AI Bubble Fears Persist; OpenAI Faces Financial Scrutiny Global Big Tech companies posted strong first-quarter results that underscored the potential to make money from artificial intelligence, but concerns about an AI bubble have not eased. With massive capital spending far outpacing revenue growth, stock-market reactions were mixed, and financial worries surrounding OpenAI — a symbolic name in the AI industry — have intensified. According to the IT industry on May 3, four major Big Tech companies — Alphabet, Meta, Microsoft and Amazon — rel May 5, 2026

People Power Party Picks Park Min-sik for Busan Buk-gu Gap By-Election, Setting Three-Way Race The People Power Party’s nomination committee on May 5 confirmed Park Min-sik, described as a former minister of the Ministry of Patriots and Veterans Affairs, as its candidate in the June 3 parliamentary by-election in Busan’s Buk-gu Gap district. Park will face Ha Jeong-woo of the Democratic Party and independent candidate Han Dong-hoon. Park dismissed the possibility of unifying candidacies with Han as “zero.” After his nomination was finalized, Park held a news conference at the pa May 5, 2026

Samsung Electronics board chair urges talks to resolve labor dispute Shin Je-yoon, chairman of Samsung Electronics' board, posted a public message to employees urging management and labor to resolve their dispute through dialogue. In a post on the company's internal bulletin board on the 5th, Shin said he was concerned about the situation and felt a strong sense of responsibility.  "Many people, including shareholders and customers, as well as the public, are deeply worried about the company's recent situation," he wrote. "As board chairman, May 5, 2026

Inside a Seoul Hotel Remade as Youth Housing With AI Training and Coworking “Many residents work in AI, and after joining the community my portfolio really got stronger,” said Lim Ji-yoon, a resident at Eskis Gasan. “They recruited residents and even ran speech training. There were many chances to do productive things.” Lim, who moved into the complex through a special allocation for digital-industry workers, spoke during a visit on April 30 to Eskis Gasan in Seoul’s Geumcheon District. South Korea’s Ministry of Land, Infrastructure and Transport has begun expa May 5, 2026

Korea to Launch Public Zoo Safety Council After Wolf Escape The government will launch a consultative body to strengthen zoo safety management and improve animal welfare standards, following a recent wolf escape at Daejeon O-World that heightened calls for broader checks of zoo operations. The Ministry of Climate, Energy and Environment said it will hold the inaugural meeting of a nationwide council of public zoos on Tuesday at the Korea Public Institution Research Institute in Seoul. The council is intended to reinforce the leading role of pub May 5, 2026

Climate Ministry Approves 12 Circular Economy Sandbox Projects, Including Plastic Pyrolysis The Ministry of Climate, Energy and Environment said Tuesday it approved regulatory exemptions, or sandbox status, for 12 projects tied to circular-economy technologies and services. The ministry said the move is expected to significantly overhaul standards for recognizing recyclable resources, making chemical recycling such as pyrolysis easier to carry out. The ministry said it held a Circular Economy New Technology and Service Review Committee meeting on April 30 at Seoul Square and con May 5, 2026

Korea Fair Trade Commission Fines SL 38 Million Won for Late Subcontract Documents A South Korean auto-parts maker has been sanctioned for issuing required subcontract documents late to its subcontractors. The Korea Fair Trade Commission said May 5 it will fine SL 38 million won for delaying written documents when outsourcing mold manufacturing to subcontractors. SL is a first-tier supplier to Hyundai Motor Co., providing automotive lamps and electronic parts. According to the commission, SL outsourced 328 cases of mold production for auto-parts manufacturing fr May 5, 2026

South Korea to Launch 5th-Generation Indemnity Health Plan With Premiums About 30% Lower A fifth-generation indemnity health insurance plan with lower premiums will go on sale starting on the 6th. The key change is reduced coverage for some noncovered services, including manual therapy, aimed at easing a cycle in which heavy use of noncovered care drives up loss ratios and, in turn, premiums. Financial authorities said on the 5th that 16 life and nonlife insurers will sell the fifth-generation plan starting on the 6th. Premiums are expected to be about 30% lower than fourth-g May 5, 2026

Reform Party floor leader proposes bill to exempt children's play noise from regulation Cheon Ha-ram, floor leader of the Reform Party, said Monday he has introduced amendments to the Noise and Vibration Control Act and the Minor Offenses Act that would, in principle, exclude sounds generated during child care, education and play from being treated as regulated noise. Cheon said the bills would exempt sounds from activities at day care centers, kindergartens, schools and children’s playgrounds from the scope of noise under the current Noise and Vibration Control Act and fr May 5, 2026

Korean Financial Groups Warn Inclusive Finance Could Strain Asset Quality Finance always speaks two languages: growth and risk. It helps companies expand, creates jobs and supports the broader economy. But it also measures and manages the losses that can come with that expansion. When those forces stay in balance, finance underpins society. When one side dominates, finance can become the starting point of a crisis. Recent signals from South Korea’s major financial holding companies to overseas investors suggest that balance is under pressure. KB Financial Group, Shi May 5, 2026