Rubio to Visit Rome and Vatican as Trump-Pope Tensions Test Ties U.S. Secretary of State Marco Rubio will visit Rome and the Vatican this week, a trip that comes amid a series of public clashes between President Donald Trump and Pope Leo XIV and will test whether the sides can ease tensions. Yonhap News, citing AFP and other foreign media, reported on May 3 (local time) that Rubio is scheduled to travel to Rome and the Vatican on May 7-8 for talks with Vatican Secretary of State Cardinal Pietro Parolin and Italian Foreign Minister Antonio Tajani. A May 3, 2026

Citi Cuts Samsung Electronics Target to 300,000 Won, Citing Union Strike Risk Global investment bank Citigroup slightly lowered its target price for Samsung Electronics, citing the potential cost burden from a possible union-wide strike. While near-term earnings risks have increased, Citi said the broader industry direction remains intact. According to Yonhap News Agency on Saturday, Citi analyst Peter Lee said in an April 30 report that he cut Samsung Electronics’ target price to 300,000 won from 320,000 won. He maintained a “buy” rating. The reduction was limi May 3, 2026

South Korea Revives Service Industry Framework Bill as Services Deficit Persists The government is again pushing to enact the long-stalled Framework Act on Service Industry Development, a bill that has failed to clear the National Assembly for 15 years. First introduced in 2011 to foster the service sector in a systematic way, the legislation has been delayed by conflicts of interest, including disputes over whether to include health care. With South Korea running a services account deficit for 26 straight years, calls are growing for a comprehensive strategy and a str May 3, 2026

Special Counsel Investigator’s ‘Career-Building’ Post Sparks Fairness Concerns A lawyer-turned special investigator who joined the second comprehensive special counsel team led by Special Counsel Kwon Chang-young has drawn criticism after posting online that work at the office would help build investigative experience and sharpen expertise in criminal cases. On May 3, social media users circulated a post by the investigator, identified only as A, showing photos including an office nameplate bearing the investigator’s name, a stamped suspect statement record and a p May 3, 2026

SME Tech Theft Hotline Gets 20 Complaints in First Month, Ministry Says The Ministry of SMEs and Startups said Saturday it has received 20 reports of technology-related disputes about a month after launching a hotline aimed at stamping out technology theft from small businesses. The “SME Technology Theft Eradication Hotline” officially launched April 26 as the first joint project of an interagency task force. When small firms file a report through the hotline, legal experts provide consultations to help craft a response strategy and connect the company to the May 3, 2026

Iran Proposes 30-Day End to War in New Truce Offer; Trump Says Tehran Must Pay a Price As the United States and Iran continue behind-the-scenes contacts over a cease-fire, Iran has proposed a new truce plan to Washington that includes ending the war within 30 days, according to reports. President Donald Trump signaled dissatisfaction and suggested the U.S. could return to military action. AP and CNN reported on May 2, citing Iran’s semiofficial Tasnim News Agency and Iranian state TV, that Iran sent the United States a new cease-fire proposal through mediator Pakistan. The May 3, 2026

Samsung Biologics Strike Enters Third Day as Union Seeks Say on Hiring, M&A Samsung Biologics’ first full-scale strike since the company was founded in 2011 continued for a third day on Saturday, raising concerns about production disruptions and damage to customer confidence. The union is pressing for a major pay and bonus package and has also sought prior consent rights on key management matters such as hiring, personnel evaluations and mergers and acquisitions, prompting criticism that it is hardening its stance rather than seeking compromise.  ◆5-day strike be May 3, 2026

Boryeong-AMA International Motor Festival Aims to Become Asia’s Top Event "Honestly, I came because I love cars. Seeing two race cars drifting together gave me a real adrenaline rush," said Yosep, 26, from Puerto Rico, who attended the 2026 Boryeong·AMA International Motor Festival. On May 2, the area around the Mud Expo Plaza in Boryeong, South Chungcheong province, filled early with engine noise and cheers. At the gymkhana and drifting venues, the sound of tires scraping the pavement rarely let up. Crowds packed the stands for a gymkhana May 3, 2026

Profit-Linked Bonus Demands Spread Across South Korea’s Top Industries Labor disputes are flaring simultaneously at some of South Korea’s flagship companies, spanning semiconductors, autos, biotech and telecommunications, as unions push for bigger, profit-linked bonuses. The Samsung Electronics union has warned of a general strike while demanding the removal of a bonus cap and distribution of 15% of operating profit. The Samsung Biologics union began its first full-scale strike since the company’s founding on May 1. The Hyundai Motor union is seeking bonuses equal May 3, 2026

Samsung Electronics Faces Q2 Cost Risks Despite Chip Boom, Union Bonus Talks and Strike Threat Samsung Electronics posted a first-quarter earnings surprise on the back of a semiconductor upcycle, but it could face major cost risks in the second quarter, including labor-management tensions, industry and financial sources said Saturday. Analysts warn that the union’s unusually large bonus demands and the possibility of a strike could significantly erode chip profits. Market consensus for Samsung’s second-quarter results calls for revenue of 174.4 trillion won and operating profit o May 3, 2026