Kim Yong-bum Proposes Three Fixes to Make South Korea’s Financial System More Inclusive Kim Yong-bum, policy chief at the presidential office, on Saturday proposed three steps to overhaul a financial system he said disadvantages vulnerable groups: strengthening banks’ accountability, improving credit evaluation and redefining the role of lenders focused on low-income borrowers. Kim laid out the proposals in a Facebook post titled “How to reconnect a broken market: Designing finance to connect again.” Referring to two earlier posts criticizing the financial system, Kim sai May 3, 2026

Korea Market Cap Tops 6,000 Trillion Won as 405 Firms Join 1 Trillion Won Club South Korean stocks have repeatedly set record highs, pushing total market capitalization above 6,000 trillion won and lifting the number of listed companies worth at least 1 trillion won past 400. According to the Korea Exchange on Saturday, total market capitalization across the KOSPI, KOSDAQ and KONEX stood at 6,167 trillion won as of April 29. The number of listed firms with market caps of 1 trillion won or more, including preferred shares, totaled 405: 267 on the KOSPI, 137 on the KO May 3, 2026

Samsung Family Completes About $12 Trillion Won Inheritance Tax Payment, Renewing Debate on Succession Tax Rules The Samsung family has finished paying about 12 trillion won in inheritance tax on the estate of the late Chairman Lee Kun-hee. The payments, made in six installments over five years starting in 2021, conclude what is described as the largest inheritance-tax payment in South Korean history. The case is not only a private matter for a controlling family; it highlights how the inheritance-tax system intersects with corporate succession and the capital markets. Lee’s estate, including sta May 3, 2026

One-Third of KOSPI Firms Beat Q1 Forecasts by 10% or More; Q2 Estimates Rise As first-quarter earnings season passed its midpoint, about one in three companies on South Korea’s main KOSPI board that have reported results posted operating profit at least 10% above market forecasts, data showed. With second-quarter estimates also being revised higher for major firms, expectations are growing that the earnings uptrend will continue. Yonhap News Agency’s review of Yonhap Infomax data on Saturday showed that, among 197 KOSPI-listed companies covered by forecasts from a May 3, 2026

Ukrainian Student Wins Chunhyang Pageant Title, Stirring Debate in South Korea A Ukrainian international student named Lina was selected as “Chunhyang Mi” at the 96th Chunhyang Pageant held at Gwanghallu Garden in Namwon, North Jeolla Province. The news quickly drew mixed reactions, from “Chunhyang has gone global” to discomfort such as, “Chunhyang is a foreigner?” The moment may seem easy to brush off, but it points to a larger question. Chunhyang is not simply a label for choosing someone attractive. She is a figure from a Joseon-era story, defined by standards of her o May 3, 2026

Son Heung-min records 15th assist of season as LAFC draws San Diego FC 2-2 Son Heung-min recorded his 15th assist of the season for Los Angeles FC in Major League Soccer. LAFC drew San Diego FC 2-2 on the road in a 2026 MLS Round 11 match at Snapdragon Stadium in San Diego, California, on May 3 (Korean time). Son came on in the 60th minute with LAFC down 2-0 and set up Denis Bouanga’s goal in the 82nd minute to start the comeback. It was Son’s eighth assist in league play, moving him into sole possession of the MLS assist lead. Across all official competitions, May 3, 2026

LPG Carrier Bound for India Transits Strait of Hormuz for First Time Since U.S. Blockade About 20 days after the United States began enforcing a blockade in the Strait of Hormuz, an LPG carrier bound for India has transited the waterway for the first time. Bloomberg News and Indian media outlet The Indian Express reported on the 3rd (local time) that MarineTraffic vessel-tracking data showed the Marshall Islands-flagged very large gas carrier Sarv Shakti exited the Strait of Hormuz the previous day and entered the Gulf of Oman. The ship was carrying about 45,000 tons of LPG May 3, 2026

Woori Bank Arranges $825 Million Refinancing for Ohio Gas Power Plant Woori Bank said it has completed a refinancing arrangement worth $825 million (about 1.1 trillion won) for a 950-megawatt gas-fired combined-cycle power plant in Trumbull County, Ohio, expanding its footprint in North American infrastructure finance. The bank said Sunday the refinancing was timed to the start of commercial operations at the plant. The project is jointly funded by Korea Southern Power Co., the Korea Overseas Infrastructure & Urban Development Corp. (KIND) and Siemens E May 3, 2026

Samsung Family Completes $12 Trillion Won Inheritance Tax Payment, Expands Public Giving Samsung has finished paying 12 trillion won (about $12 trillion won) in inheritance taxes tied to the estate of late former chairman Lee Kun-hee, completing the payments over five years. The company and the bereaved family have also pursued public initiatives including support for infectious-disease response, pediatric cancer care and major art donations. According to the business community on Saturday, Lee Jae-yong, Samsung Electronics chairman; Hong Ra-hee, honorary director of the L May 3, 2026

Shin Dong-yeop YouTube Talk Show Controversy Highlights Platform Accountability Debate Controversy is again spreading around comedian Shin Dong-yeop’s YouTube talk show, “Jjanhanhyeong.” A portion of a teaser that drew allegations of sexual harassment has been deleted, but public backlash has not quickly subsided. Critics say removing only the disputed clip does not address the underlying problem. The program has repeatedly faced criticism over heavy drinking scenes, provocative remarks and jokes about people’s bodies. The latest dispute is widely seen not as a one-off mistake but May 3, 2026