Yongsan’s Hyochang Park Station redevelopment advances on floor-area incentives amid ‘cage apartment’ debate Debate over so-called “cage apartments” — criticism of high-density projects dominated by small units — is spreading to redevelopment plans around Hyochang Park Station in Seoul’s Yongsan district. Even so, projects in the area are moving ahead on the back of floor-area ratio incentives. According to the redevelopment industry on April 21, the promotion committee for a station-area, long-term jeonse housing (Shift) urban renewal-type redevelopment project near 82-1 Wonhyo-ro 1-ga will hol April 30, 2026

LG Energy Solution Says North America ESS Backlog at 140 GW; Early Fixed Costs in EV-to-ESS Line Shift * This article has been translated by AI. April 30, 2026

Samsung Electronics expects 2026 capex to rise sharply on sustained AI demand Samsung Electronics said Thursday it expects capital spending this year to rise “significantly” from a year earlier as demand for artificial intelligence remains strong. On a conference call for its 2026 first-quarter earnings, the company said it will expand investment in advanced research and development — including next-generation processes and core technologies — to secure technology leadership. It also said it plans to strengthen strategic hubs and secure additional infrastructure April 30, 2026

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