Japan Imports Russian Crude for First Time Since Hormuz Strait Closure Japan will import Russian crude oil for the first time since the Strait of Hormuz was closed. Kyodo News reported May 2, citing a Japanese Ministry of Economy, Trade and Industry official, that refiner Taiyo Oil procured crude produced by the Sakhalin-2 oil and gas development project in Russia’s Far East through a spot deal. The crude was reported to have left Sakhalin aboard a tanker in late April. The tanker carrying the Russian crude is expected to arrive as early as the night of Ma May 3, 2026

Auto Installment Loan Rates Top 10% at Some Firms as Funding Costs Rise Auto installment loan rates are climbing sharply as funding conditions worsen for card issuers and capital companies. Some capital firms have pushed rates above 10%, and the rise in card bond yields suggests rates could climb further. According to the Credit Finance Association on Saturday, the average installment rate for new cars at six dedicated card issuers last month — based on a 30% cash down payment and a 36-month term — ranged from 4.60% to 6.63%. That is more than a 2 percentag May 3, 2026

Drugmakers Expand Small-Pack Supplements Beyond Pharmacies to Daiso Drugmakers are expanding sales of health functional foods and other products to Daiso, a fixed-price household goods chain, as they move beyond pharmacy-centered distribution. With consumers seeking ultra-low prices and value during a downturn, companies are aiming to lower the cost burden and broaden customer touchpoints. The shift is also spreading to quick-commerce delivery channels. According to the industry on May 3, Chong Kun Dang launched six small-portion, small-pack “Dailywise” h May 3, 2026

Korea Semiconductor Leveraged ETFs Surge, With Top Fund Up Nearly 15-Fold in a Year Korea’s exchange-traded fund market has been dominated by semiconductor leveraged products, posting outsized gains as expectations for an industry upturn lifted related indexes. Because these ETFs are designed to track twice the daily move of their benchmarks, a sustained rally amplified returns through compounding. According to the Korea Exchange on May 3, semiconductor leveraged ETFs led the performance rankings over the past year (April 30, 2025, to April 30, 2026). The top gainer was May 3, 2026

High Exchange Rates Cut Korean Duty-Free Sales as Retailers Target Foreign Tourists A sustained run of high exchange rates has weakened the price appeal of duty-free shopping, and the number of Korean customers has fallen for three straight months, industry data show. Major duty-free operators are trying to offset the drop by expanding K-content and experience-focused spaces aimed at foreign visitors. According to the Korea Duty Free Shops Association, the number of Korean duty-free shoppers declined to 1.63 million in January, 1.45 million in February and 1.36 milli May 3, 2026

Special Counsel Nears First Deadline With No Arrest Warrants or Indictments The second comprehensive special counsel team, led by Special Counsel Kwon Chang-young and tasked with allegations not resolved by the three earlier special counsels, is nearing the end of its initial investigation period without clear results. The probe has increasingly focused on identifying the military command chain behind the deployment of martial law troops, but observers say the structure of the case has slowed progress. According to legal officials on Saturday, the team marked it May 3, 2026

South Korea court upholds limits on Chinese characters in children’s registered names South Korea’s Constitutional Court has ruled that a provision limiting the Chinese characters that can be used when registering a child’s name at birth does not violate the Constitution.  According to the legal community on Saturday, the court upheld the provision in Article 44(3) of the Family Relations Registration Act by a 5-4 vote, rejecting a constitutional complaint challenging the phrase “commonly used Chinese characters.”  The petitioner, identified only as A, reported the birth May 3, 2026

Nvidia’s Physical AI Push Lifts Shares of Asian Partners Including LG Electronics Nvidia’s expansion into robotics and autonomous systems — often described as “physical AI” — has helped lift shares of several Asian partners, Bloomberg News reported May 2. Bloomberg said shares of South Korea’s LG Electronics, Taiwan’s Nanya Technology, and China’s Huizhou Desay SV Automotive and Pateo Connect Technology rose on expectations of broader cooperation with Nvidia. LG Electronics closed at 140,900 won as of April 30, up 33% over the past month. On April 28, the stock jumped a May 3, 2026

Builders Jockey for Contracts as Yeouido’s Transit-Linked Rebuilds Gain Speed Yeouido’s long-discussed apartment rebuilds are moving into a more active phase, and competition among major builders is intensifying around complexes with the shortest walks to subway stations. Industry officials said Sunday that key redevelopment sites across Yeouido are speeding up steps such as winning approval for maintenance plans and moving toward selecting contractors. At the redevelopment area visited April 29, the shift was visible on the ground. Miseong Apartments sits so c May 3, 2026

Homeplus Dropped From Shinhan Bank Employee Loan Program as Restructuring Drags On Homeplus, which is undergoing corporate restructuring, has been removed from Shinhan Bank’s list of companies eligible for its “Elite Loan,” a credit-loan product for employees of top-rated firms, industry sources said. The prolonged process is now affecting workers’ personal banking, beyond store operations and dealings with suppliers. According to the retail industry on the 3rd, Homeplus was recently dropped from the Elite Loan program. The product offers preferential loan limits an May 3, 2026