Presidential Chief of Staff Kang Hoon-sik orders steps to curb favoritism in highway rest stops Kang Hoon-sik, the presidential chief of staff, on Monday ordered steps to recover improper gains and refer suspected violations for investigation following controversy over a group of retired Korea Expressway Corp. employees operating highway rest stops. He also instructed the Ministry of Land, Infrastructure and Transport to conduct a comprehensive inspection of all public institutions and draw up measures to prevent preferential treatment for former officials. Kang made the remarks May 4, 2026

Hyundai Motor April Global Sales Fall 8% to 325,589 Vehicles Hyundai Motor said Sunday that its global vehicle sales in April totaled 325,589 units, down 8% from a year earlier. Domestic sales fell 19.9% to 54,051 vehicles, while overseas sales slipped 5.1% to 271,538, the company said. In South Korea, Hyundai sold 18,326 sedans, including 6,622 Grandeurs, 5,754 Sonatas and 5,475 Avantes. Sales of recreational vehicles totaled 19,284, led by the Santa Fe at 3,902, the Tucson at 3,858, the Palisade at 3,422, the Kona at 2,559 and the Casper at 1, May 4, 2026

Jeju Dream Tower tops 60 billion won in April revenue as casino net sales hit record In April, typically a slow month, Jeju Dream Tower posted its strongest monthly performance yet, topping 60 billion won in combined casino and hotel revenue for the first time. The resort extended the momentum seen in the first quarter, with the casino driving results as profitability moved closer to levels seen in Macau, analysts said. ◆ Drop holds above 200 billion won; what a 22.6% hold rate shows Lotte Tour Development said Monday that its casino and hotel businesses generated a comb May 4, 2026

Finance Ministry Refers Three Online Sellers of High-Strength Nicotine Solution for Investigation The Ministry of Economy and Finance said it has identified three companies that sold high-strength nicotine solution online and has asked investigators to look into the cases. The ministry said Monday it requested investigations by the Daejeon Metropolitan Police Agency and the Gyeonggi Nambu Provincial Police Agency into three firms that advertised and sold high-concentration nicotine solution through online sites after the revised Tobacco Business Act took effect April 24. Officials s May 4, 2026

Kim Keon Hee case heads to Supreme Court as special counsel appeals partial acquittals Special Counsel Min Jung-gi’s team has taken to the Supreme Court the case of Kim Keon Hee, who was sentenced on appeal to four years in prison over allegations including Deutsche Motors stock manipulation and receiving valuables tied to the Unification Church. The special counsel said the appeals court misunderstood key legal issues in acquitting Kim on parts of the case. Kim’s side has also appealed, setting up a final round of arguments over guilt and sentencing. According to the legal May 4, 2026

Big 5 Banks’ Mortgage Loans Post Biggest Gain in 8 Months as Household Debt Rises Mortgage loan balances at South Korea’s major commercial banks rose by the most in eight months, driven largely by policy-backed lending such as jeonse deposit loans and Didimdol loans, the financial sector said Monday. As of the end of April, outstanding mortgage loans at the five largest banks — KB Kookmin, Shinhan, Hana, Woori and NH NongHyup — totaled 612.2443 trillion won, up 1.9104 trillion won from the end of March, according to financial industry data released Monday. It was the b May 4, 2026

Renault Korea April Sales Drop 40.5% as Exports Slump on Global Uncertainty Renault Korea said Sunday that its total April sales fell 40.5% from a year earlier to 6,199 vehicles, as exports slumped amid worsening international conditions. Domestic sales dropped 23.4% to 4,025 units, while exports plunged 58% to 2,174, the company said. Cumulative sales for January through April totaled 22,820 vehicles, down 20.2% from the same period a year earlier. Hybrids accounted for 3,527 units of April domestic sales, or 87.6% of the total. The FILANTE HEV and Grand Koleo May 4, 2026

KOSPI Hits Record Above 6,900 as Analysts Debate Whether Rally Can Last in May After surging more than 30% in April, South Korea’s benchmark KOSPI kept running in May, setting another record on the first trading day of the month. The move has undercut the market adage “Sell in May,” but investors are watching whether the rally can hold after such outsized gains, which have often been followed by sharp pullbacks. According to the Korea Exchange, the KOSPI on May 4 jumped 338.12 points, or 5.12%, to close at 6,936.99, a record high by closing price. The index rose 30. May 4, 2026

Middle East War Ripples Through Asian Manufacturing as Costs Surge Despite Stockpiling The fallout from the war in the Middle East is spreading across Asian manufacturing. Companies have boosted output for now by building inventories ahead of possible supply disruptions. But a sharp rise in energy and raw material prices is quickly increasing cost pressures. S&P Global said on the 4th that last month’s purchasing managers’ index, a gauge of business conditions, showed manufacturing output generally expanded in major Asian economies. PMI readings for Taiwan, Japan and May 4, 2026

GM Korea April Sales Rise 14.7% to 47,760 Vehicles on Strong Exports GM Korea said Sunday it sold 47,760 vehicles in April, up 14.7% from a year earlier. Domestic sales totaled 811 vehicles, while exports reached 46,949. The company said April marked the third time this year it posted monthly sales above 40,000 vehicles, following January and March. Exports of the Chevrolet Trax Crossover, including derivative models, rose 12.7% from a year earlier to 31,239 units. Exports of the Chevrolet Trailblazer, including derivative models, increased 24.7% to 15,71 May 4, 2026