South Korea Welcomed 4.74 Million Visitors in Q1, Up 123% From 2019; China Led South Korea drew 4.74 million foreign visitors in the first quarter, surpassing pre-COVID-19 levels, with arrivals surging in March as inbound tourism continued to rebound. ◆ Q1 visitors hit 4.74 million; Chinese tourists lead at 1.42 million According to Korea Tourism Organization statistics, cumulative inbound visitors from January to March totaled 4.74 million, up 22.6% from a year earlier. The figure represents a 123.4% recovery compared with the same period in 2019, exceeding pre-pan April 30, 2026

Gwangju to Cover Vacation Fund Share for Small-Firm Workers, a First in South Korea Gwangju Metropolitan City will become the first local government in South Korea to use its own budget to directly subsidize vacation funds for workers at small and midsize companies in the city. The Korea Tourism Organization said it signed a business agreement on Wednesday with the Gwangju city government and the Gwangju Chamber of Commerce and Industry for the “Vacation Plus” program for small-company workers in the region. The program will cover 350 manufacturing workers in Gwangju. April 30, 2026

Business groups say raising retirement age to 65 must include wage system overhaul The government is accelerating plans to raise the mandatory retirement age to 65, and business groups are urging that wage adjustments for workers 60 and older be recognized as an exception to age-discrimination rules. The government says it plans to submit legislation in the first half of the year, but no agreement has been reached on wages or employment arrangements. On the 30th, the Democratic Party’s special committee on extending the retirement age held a meeting with business repres April 30, 2026

Samsung Electro-Mechanics tops 3 trillion won in quarterly sales for first time, sees Q2 growth Samsung Electro-Mechanics said it surpassed 3 trillion won in quarterly revenue for the first time, driven by a surge in artificial intelligence-related demand that lifted sales of high-value products for industrial and automotive uses. The company said the growth trend is expected to continue in the second quarter as well. In a regulatory filing on Wednesday, Samsung Electro-Mechanics reported first-quarter consolidated revenue of 3.2091 trillion won and operating profit of 280.6 billi April 30, 2026

POSCO Holdings posts Q1 operating profit of 707 billion won; POSCO Future M turns profitable POSCO Holdings said in a regulatory filing on Wednesday that it posted first-quarter consolidated revenue of 17.876 trillion won, operating profit of 707 billion won and net profit of 543 billion won. The company said revenue and profit rose from a year earlier despite heightened uncertainty in energy supply chains and financial markets stemming from the war between the United States and Iran. It said losses in its lithium business narrowed sharply as POSCO Argentina began full-scale comm April 30, 2026

Kiwoom Securities Nears Launch of Retirement Pension Business Kiwoom Securities is preparing to enter South Korea’s retirement pension business, with market watchers saying its large base of individual investors could help it build a stronger presence in the pension market. Attention is also focused on whether a new player could accelerate a so-called “money move” — a shift of retirement pension assets toward securities firms — in a market that has grown to about 500 trillion won. According to the financial investment industry on Wednesday, Kiwoom c April 30, 2026

South Korea says 5 trillion won in extra budget executed, seeks faster local subsidies South Korea has executed 5 trillion won of a supplementary budget drawn up to respond to the war in the Middle East, as spending moved into full swing by the end of April, officials said. The Office of Planning and Budget said it held its eighth fiscal execution review meeting on April 30 at the Government Complex Seoul, chaired by Vice Minister Lim Ki-geun, to check the status of the extra budget and next steps. Of the 26.2 trillion won supplementary budget, the government designated 1 April 30, 2026

Kakao Games Bets on New Releases to Rebound, Expanding Globally to PC and Consoles Kakao Games said it is preparing to shift back to growth by rolling out multiple new titles, with a strategy centered on expanding beyond mobile into PC and console games and a broader global push. The company said on the 30th it will sequentially launch major new games through next year to diversify its business structure and expand overall scale. It plans to strengthen mid- to long-term competitiveness by adding large global-targeted projects and expanding into new genres. In the thir April 30, 2026

Public Agencies Hired 27,000 in 2025 as Debt Ratio Fell 6.4 Points Public agencies hired about 27,000 new employees last year, a sharp increase, while their debt ratio fell, indicating improved financial health. The Finance and Economy Ministry said Wednesday it disclosed management data for 342 public agencies through the public-sector information system ALIO. New hiring totaled about 27,000, up about 7,000 people, or 34.5%, from a year earlier. The rebound followed two straight years of declines, driven in part by expanded staffing in public health c April 30, 2026

HMM Reaches Labor Deal to Move Headquarters to Busan, Plans North Port Office Tower HMM and its labor union, which had been locked in a sharp standoff that included talk of a possible general strike over the planned move of the company’s headquarters to Busan, reached a broad agreement after weighing concerns about potential disruptions to logistics at home and abroad and wider social impact. With union opposition — the last major obstacle — now removed, the relocation of the headquarters of South Korea’s largest container shipping line is expected to be confirmed at a s April 30, 2026