Japan Intervenes in FX Market for First Time in 22 Months; Media Estimate 5 Trillion Yen Buy Japan moved to support the yen by intervening in the foreign exchange market, selling U.S. dollars and buying yen. It was Japan’s first market intervention in about 22 months, since July 2024, when the yen-dollar rate rose to 161.7 yen. Kyodo News and other foreign media reported on May 1, citing a Japanese government official, that the government intervened on April 30. Japanese media, based on projections for the Bank of Japan’s current account balances, estimated the yen-buying opera May 1, 2026

Korea’s Two Biggest Labor Federations Rally on First Labor Day Holiday, Seek Stronger Rights Large labor rallies were held across central Seoul on May 1, Labor Day, as unions marked the first Labor Day since it was designated a public holiday for the first time in 63 years. The country’s two biggest labor federations called for stronger protections for workers’ basic rights. The Federation of Korean Trade Unions (FKTU) held a Labor Day event in Yeouido, while the Korean Confederation of Trade Unions (KCTU) staged its rally near Gwanghwamun Station. At the FKTU’s “136th World L May 1, 2026

Crowds Jam Seoul, Highways and Incheon Airport as 5-Day Holiday Begins; Pokemon Event Halted Crowds surged across Seoul, on expressways and at Incheon International Airport on the first day of a holiday stretch that can run as long as five days. In Seongsu-dong in Seoul’s Seongdong district, a 30th anniversary event for the Japanese anime and game franchise “Pokemon” drew such heavy foot traffic that police and firefighters were dispatched over safety concerns. According to the game industry, Pokemon Korea opened “Pokemon Mega Festa 2026” in the Seongsu area to mark the 30th an May 1, 2026

Investigators Suspect Gas Explosion in Uiwang Apartment Fire That Killed 2 Authorities said a gas explosion is the leading suspected cause of an apartment fire in Uiwang, south of Seoul, that killed two people and injured six others. Police, fire officials and the National Forensic Service inspected the unit on the 14th floor where the fire started and confirmed the kitchen gas valve was open, officials said. With no flammable materials found at the scene, they are presuming the blaze was triggered by a gas explosion. The fire broke out with an explosion abou May 1, 2026

People Power Party Nominates Lee Jin-sook, Lee Yong for June 3 By-elections; Park Min-sik to Face Primary The People Power Party on April 30 finalized candidates for seven of the districts holding June 3 parliamentary by-elections, including Daegu Dalseong. Lee Jin-sook, who previously served as chair of the Korea Communications Commission, was nominated in Daegu Dalseong, and Lee Yong, a former lawmaker, was nominated in Gyeonggi Province’s Hanam Gap. The party put nominations on hold in South Chungcheong’s Gongju-Buyeo-Cheongyang, where Chung Jin-suk, who previously served as presidential May 1, 2026

U.S. Tests Its Own War Rules as Trump Administration Cites Iran Ceasefire Wars are often launched in the name of principle, but when major powers act, they can also reshape the meaning of order itself. That is the argument now surrounding the Trump administration’s approach to the Iran war and its claim that military action can remain legitimate even at the edge of U.S. law and international norms. At the center is the War Powers Resolution, which requires a president to end military action within 60 days or obtain congressional approval if Congress has not authorize May 1, 2026

Funeral Begins for Cargo Truckers Union Member Killed at Jinju Logistics Center Rally Funeral rites began May 1, Labor Day, for a Cargo Truckers Union member who died at a rally outside the BGF Logistics CU distribution center in Jinju, South Gyeongsang Province. Yonhap News Agency reported that the South Jeolla headquarters of the Korean Confederation of Trade Unions set up a memorial altar that afternoon at a funeral home in Suncheon, South Jeolla Province. The start of the funeral came 11 days after the union member was killed April 20 when struck while trying to block May 1, 2026

Lee Jae-myung says voice phishing losses down, vows to push toward zero President Lee Jae-myung, citing recent reports that voice phishing losses have fallen, said it was "truly fortunate" that public losses dropped in a short period and praised government workers for their efforts. In a post Thursday on X, formerly Twitter, Lee shared a news report saying voice phishing losses in January-March fell 45% from a year earlier, attributing the decline to results from arrests focused on higher-level figures. "This is thanks to the dedication of frontline public May 1, 2026

Samsung Biologics union launches first full strike as labor dispute escalates Samsung Biologics’ labor union began its first full strike since the company’s founding, intensifying a standoff in which both sides are trading blame. The union says management is responsible and is urging talks, while the company is calling for restraint and warning of heavy losses. Yonhap reported May 1 that the Samsung Biologics branch union will hold a five-day full strike from May 1 through May 5. Rather than a traditional walkout, members are participating by using annual l May 1, 2026

Alleged Supplier to ‘Drug Kingpin’ Park Wang-yeol Deported From Thailand to South Korea A man in his 50s accused of supplying drugs to Park Wang-yeol, described by police as a “drug kingpin,” has been arrested in Thailand and sent back to South Korea, authorities said. Investigators said securing the alleged key supplier will help expand the probe into the broader distribution network. The National Police Agency said Choi, 51, arrived at Incheon International Airport on May 1. Wearing a hat and mask, he was escorted by officers and did not answer reporters’ questions before May 1, 2026