Socar to Launch 150 Billion Won Self-Driving Unit; Krafton to Invest 65 Billion Won Socar said it is pushing to set up a self-driving-focused subsidiary with planned investment of 150 billion won, a level it described as among the largest in South Korea’s autonomous driving services sector. Video game company Krafton will join the project as a strategic investor. Socar said Thursday the new company is expected to be established in May. Socar CEO Park Jae-wook, who has led the company’s autonomous driving initiatives, will also serve as CEO of the new unit and oversee the April 30, 2026

Hanon Systems Q1 Operating Profit Jumps 361% to 97.2 Billion Won Hanon Systems, an automotive thermal energy management solutions company under the Hankook & Company Group, posted sharply improved results. In a regulatory filing on the 30th, Hanon Systems said its first-quarter operating profit on a consolidated basis was 97.2 billion won, up 361.1% from a year earlier on a preliminary tally. Revenue rose 5% to 2.7482 trillion won. Net profit was 67.5 billion won, returning to the black. The company said the performance reflects companywide restru April 30, 2026

CNN: U.S. Iran War Costs Could Reach $50 Billion, Double Pentagon Figure The cost of the U.S. war with Iran could reach $50 billion, CNN reported, about double the $25 billion the Pentagon has publicly cited. CNN and Reuters reported on the 30th that the Defense Department told Congress the previous day that the war had cost $25 billion so far. CNN, citing multiple sources, said the actual total could be $40 billion to $50 billion. Reuters said most of the Pentagon’s $25 billion estimate was for munitions, and it was not specifically confirmed whether t April 30, 2026

Google Signals Possible Ads for Gemini, but No Immediate Plans Google has left open the possibility of adding advertising to its AI assistant, Gemini, though it has not confirmed any immediate rollout. On April 29 (local time), Google Senior Vice President and Chief Business Officer Philipp Schindler said in a post-earnings Q&A that the company is currently focused on the Gemini app’s free tier and subscriptions. “Advertising can be a way to expand a product to a broader user base, and if designed appropriately it can be useful commercial April 30, 2026

U.S. Pushes New Coalition to Restore Shipping Through Strait of Hormuz, WSJ Reports The United States is working to form a new international coalition to restore normal shipping through the Strait of Hormuz, The Wall Street Journal reported. The effort comes after President Donald Trump declared the strait “fully open,” yet vessel traffic has not returned to normal, the report said. Citing an internal State Department cable sent to U.S. embassies, the Journal said the department on April 29 (local time) instructed diplomats to urge foreign governments to join the new gro April 30, 2026

Korea Bar, Patent Attorneys Split After Court Ruling on Mandatory Association Membership The Korean Bar Association welcomed a Constitutional Court decision finding unconstitutional a provision of the Patent Attorney Act that requires all patent attorneys to join a single association. The Korea Patent Attorneys Association expressed regret and said it would move to revise the law. In a statement issued April 30, the bar association said it “strongly welcomes” the court’s decision for recognizing the patent profession’s “unique dual qualification system” and the structural con April 30, 2026

Samsung Heavy Industries Q1 2026 Operating Profit Jumps 122% to 273.1 Billion Won Samsung Heavy Industries said it extended its first-quarter earnings improvement on a larger share of higher-margin vessels. The company on Wednesday reported preliminary first-quarter 2026 results of 2.9023 trillion won ($2.9 trillion won) in revenue and 273.1 billion won in operating profit, according to a regulatory filing. Revenue rose 16% from a year earlier, while operating profit surged 122%. In shipbuilding, a higher proportion of construction for high-margin vessels such as LNG c April 30, 2026

Hanwha Energy, Korea East-West Power Sign MOU on Distributed Power Projects Hanwha Energy Co. and Korea East-West Power Co. said April 30 they signed a memorandum of understanding to jointly cooperate on power development projects, including distributed energy. The agreement is aimed at expanding cooperation in power projects tied to industrial complexes and distributed energy, drawing on both companies’ experience and capabilities in power generation development. Under the MOU, the companies said they plan to work together on power development projects at major April 30, 2026

Shinsegae Duty Free marks 10th anniversary with 50% off beauty brands for early May holidays With early May holidays in South Korea, China and Japan overlapping, Shinsegae Duty Free is rolling out a large-scale beauty promotion aimed at capturing rising shopping demand from domestic and overseas travelers. Shinsegae Duty Free said on the 30th it will offer 50% discounts on beauty brands from May 1 to 10 through its online mall and its Myeongdong store to mark its 10th anniversary. Participating brands include Yunjac, VDL, Amuse, Swiss Perfection, Dewy Some and The A Effect April 30, 2026

Industry Minister Kim Jeong-gwan calls for wider eco-friendly consumer culture at Beautiful Store Kim Jeong-gwan, South Korea’s minister of trade, industry and energy, visited the Beautiful Store in Seoul’s Anguk-dong on Wednesday and said expanding an eco-friendly consumer culture is “a very important task for the future of our economy and industry.” He added that the government would provide policy support, citing its potential as a future growth sector. Kim met with major distribution industry groups — including the Korea Chain Store Association, the Korea Department Store Associati April 30, 2026