Korea’s Q1 Card Spending Rises 7.2% to 322.1 Trillion Won Despite concerns about weakening consumer sentiment, card approvals in the first quarter posted solid growth, supported by stronger income conditions tied to robust domestic corporate earnings. Inflation, continued expansion in online spending and a rebound in travel demand also contributed. According to the Credit Finance Association of Korea on Wednesday, total card approvals in the first quarter came to 322.1 trillion won, up 7.2% from a year earlier. The number of approved transactions April 30, 2026

Democratic Party’s Cheon Jun-ho vows special counsel bill over alleged fabricated prosecutions Cheon Jun-ho, acting floor leader of the Democratic Party, said April 30 that he will move to introduce a special counsel bill into alleged “fabricated prosecutions,” vowing that those responsible “will pay the price.” Speaking at a party policy coordination meeting at the National Assembly, Cheon said a parliamentary special committee on a state investigation into the alleged fabricated prosecutions would adopt its final report later that day and wrap up its work. Cheon alleged that Yoo April 30, 2026

KTX and SRT Begin Joint Test Runs Ahead of Planned September Integration South Korea’s KTX and SRT high-speed rail services began test runs on regular commercial routes starting on the 30th, as the operators prepare for integrated operations planned for September. The Ministry of Land, Infrastructure and Transport, Korail and SR said the tests will support a pilot coupled operation that links KTX and SRT trainsets to run as a single train. The test program will be conducted four times through May 14 to make final checks on safety and passenger convenience. April 30, 2026

Shinsegae Chairman Chung Yong-jin’s Trump Ties Raise Opportunity, Risk Questions A striking scene unfolded at a concert hall in Seoul: Donald Trump Jr., the son of U.S. President Donald Trump, arrived and was greeted by Chung Yong-jin, chairman of South Korea’s Shinsegae Group. The two smiled and exchanged greetings, and red hats bearing the words “MAGA” appeared in the crowd. What looked like a simple night at a performance was widely read as something more — business. Corporate competition has changed. In the past, making a good product at the right price could be enough. April 30, 2026

South Korea to Offer Up to 58% Discounts on Processed Foods for Family Month The Ministry of Agriculture, Food and Rural Affairs said Wednesday it will offer discounts of up to 58% on processed foods in May, designated as Family Month, to help ease pressure on household grocery bills. The ministry said it will run the promotion with 16 major food companies, covering 4,373 processed-food items. The move comes as consumer sentiment has weakened and grocery costs have risen amid external uncertainty, including instability in the Middle East, the ministry said. I April 30, 2026

Finance Minister Koo Says Rate, FX Volatility Persists but Banks Have Ample Buffers Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol said Wednesday that volatility in financial and foreign-exchange markets is persisting, but the financial sector has sufficient capacity to respond. Koo made the remarks at a joint “expanded macroeconomic and financial meeting” at the Korea Federation of Banks building in Seoul, where officials reviewed global market moves following the U.S. Federal Open Market Committee’s decision and assessed the impact of the Middl April 30, 2026

Virtual Idol Group B:DAWN Releases 'BEOM' MV Teaser Ahead of May 6 Debut Showcase Virtual idol group B:DAWN has begun its debut countdown. Agency Duri Entertainment said April 30 that it released a music video teaser for the group’s debut single, “BEOM,” on B:DAWN’s official social media channels. The short clip offers a first look at the title track’s main melody and concept, pairing a forceful sound with a heavy mood to build anticipation for the group’s debut. The teaser features backdrops associated with Korean imagery, including Namsan Tower and hanok-style trad April 30, 2026

Lotte Samdong Welfare Foundation Donates Gift Boxes to Ulsan Children, Funds Founder’s Schools The Lotte Samdong Welfare Foundation marked Family Month in May by providing support to vulnerable children in Ulsan, the hometown of the late Shin Kyuk-ho, honorary chairman of Lotte Group, and by donating to his alma maters. The foundation said April 30 it held a delivery ceremony April 29 at Dongcheon Gymnasium in Jung-gu, Ulsan, for the ‘2026 Ulsan first-half Shin Kyuk-ho Lotte Pleasure Box support program’ and provided gift sets worth 120 million won for children from disadvantag April 30, 2026

Hanwha to Pursue Joint Venture With Canada Auto Parts Group to Produce Military Vehicles Hanwha Aerospace is teaming up with Canada’s Automotive Parts Manufacturers’ Association to build a local production base for ground weapons systems, including military vehicles. Hanwha Aerospace said April 30 that it signed a memorandum of understanding on April 29 (local time) in Ontario with APMA and Hanwha Ocean to pursue a joint venture to produce military vehicles and special-purpose industrial vehicles. The companies said the partnership would move forward in earnest if Hanwha Ocea April 30, 2026

LG Energy Solution Targets ESS Sales Share Above 35% by Year-End * This article has been translated by AI. April 30, 2026