Kim Yong-beom says long-term capital gains tax break will stay; tax deferral helped cool Gangnam prices Kim Yong-beom, head of policy at the presidential office, said Monday the long-term holding special deduction for home-sale capital gains taxes will “of course” be maintained. Speaking at a news briefing at Cheong Wa Dae, Kim addressed a bill by Progressive Party lawmaker Yoon Jong-oh that would abolish the deduction entirely. Kim said the government is only considering adjustments and that claims it would reduce owner-occupancy are “not true at all.” Kim added, however, that officia May 4, 2026

Samsung, Meta Set for AI Smart Glasses Showdown in Second Half of 2026 The market for artificial intelligence-powered smart glasses, widely seen as a next-generation device after smartphones, is expected to heat up in the second half of the year as Samsung Electronics and Meta prepare competing launches. As AI moves into eyewear, companies are betting on real-time translation, hands-free controls and faster processing of visual information to push “wearable AI” into the mainstream. Industry sources and foreign media reported Sunday that Samsung, working w May 4, 2026

Seoul’s Nowon District Heats Up on Redevelopment Hopes as Rules Ease Seoul’s redevelopment market in the northern districts is heating up, led by Nowon-gu. The so-called “Nodogang” area — Nowon, Dobong and Gangbuk — has been posting a string of record-high apartment prices, driven by the Seoul city government’s push to allow higher-density development and by demand concentrating in large complexes. We visited two key redevelopment sites in Nowon: Junggye Green and Hagye Jangmi apartments. According to the Korea Real Estate Board on the 4th, apartment sale May 4, 2026

Korea’s 5 Automakers Sell 666,248 Vehicles in April, Down 3.3% on Middle East Uncertainty Uncertainty tied to the war in the Middle East clouded South Korea’s auto exports in April, producing mixed results among the country’s five automakers. Hyundai Motor and Renault Korea posted year-on-year declines amid a gap in new-model launches and weaker exports, while Kia, KG Mobility (KGM) and GM Korea reported gains on steady demand for popular models and more diversified export markets. Industry data released Sunday showed combined global sales by Hyundai, Kia, KGM, GM Korea and Re May 4, 2026

Korea Golf Association Admits Errors in Heo In-hoi Score Change at GS Caltex Maekyung Open The Korea Golf Association on Sunday acknowledged operational mistakes in the scoring controversy involving Heo In-hoi at the 45th GS Caltex Maekyung Open. In a statement issued Sunday, the association said that while it ultimately ruled Heo’s original ball out of bounds during the third round played May 2, “there were several mistakes” in how the situation was handled. The association said it based its decision on multiple accounts from an on-site forecaddie, the caddies of Heo’s playi May 4, 2026

Lee Jae-myung to Host Children’s Day Event at Cheong Wa Dae President Lee Jae-myung will host a Children’s Day event May 5 at the Cheong Wa Dae main building and Nokjiwon lawn, the presidential office said. It will be the first Children’s Day invitation event since the presidential office returned to Cheong Wa Dae. Children invited include those from areas facing population decline, multicultural families and neighborhoods near Cheong Wa Dae. About 200 children and guardians are expected, including children Lee and first lady Kim Hye-kyung have May 4, 2026

Koo Yun-cheol Signs MOU With ADB to Set Up AI Innovation Center in South Korea Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol signed a memorandum of understanding with the Asian Development Bank to establish an artificial intelligence innovation and development center in South Korea and agreed to expand cooperation on critical-mineral supply chains. The Ministry of Economy and Finance said Monday that Koo, visiting Samarkand, Uzbekistan, on the sidelines of the ADB annual meeting, met with ADB President Masato Kanda and signed the MOU to set May 4, 2026

Korea’s Imported Car Market Splits Between Ultra-Luxury and Budget Models Korea’s imported-car market is increasingly splitting between ultra-expensive models and bargain-priced vehicles, with fewer buyers in the middle. The same pattern is emerging in the fast-growing electric-vehicle segment, where attention is focused on high-performance EVs priced above 100 million won and entry-level models using LFP batteries that maximize government subsidies. According to the Korea Automobile Importers & Distributors Association on May 3, sales of imported cars May 4, 2026

Kia April Global Sales Rise 1% to 277,188 Despite Uncertainty Kia said Sunday that its global vehicle sales in April rose 1% from a year earlier to 277,188 units. Sales in South Korea climbed 7.9% to 55,045, while overseas sales slipped 0.7% to 221,692. Special-purpose vehicle sales totaled 451. The Sportage was Kia’s top-selling model worldwide in April, with 51,458 sold. It was followed by the Seltos with 28,377 and the Sorento with 22,843. In South Korea, the Sorento led sales with 12,078 units. Passenger-car sales totaled 13,441, led by the R May 4, 2026

Where to Go in May: 10 Family-Friendly Festivals Across South Korea May, widely marked in South Korea as Family Month, brings a packed calendar of festivals aimed at family visitors nationwide. Options range from nature and hands-on events during the Children’s Day holiday to culture, food, and flower festivals later in the month. In Hampyeong, South Jeolla Province, the 28th Hampyeong Butterfly Festival runs through the 5th at Hampyeong Expo Park. Under the theme “Dreaming Butterfly, the Journey Begins,” it features flower-and-butterfly exhibits, activit May 4, 2026