President Lee Jae-myung to Host Lunch With Minor-Party, Independent Lawmakers President Lee Jae-myung will host a lunch meeting April 29 at Cheong Wa Dae with lawmakers from minor parties and independents. It will be the first time Lee has invited all lawmakers from non-negotiating parties to such a meeting. Earlier this month, on April 7, Lee held a meeting and lunch of the ruling-opposition-government consultative body on the people’s economy with Democratic Party leader Jung Cheong-rae and People Power Party leader Jang Dong-hyeok. Cheong Wa Dae said 21 peopl April 29, 2026

BTS Concerts Spur Surge in Foreign Visitors and Spending Near Venues, Data Show K-pop’s reach is extending beyond arenas and into nearby neighborhoods, with government-backed analysis showing sharp increases in foreign visitors and card spending around BTS concert sites. Foreign arrivals near a Goyang venue rose 35-fold and card spending climbed 38-fold, underscoring what officials described as spillover benefits for local businesses. Surveys also found that overseas fans stayed longer and spent more than typical visitors to South Korea, drawing attention to Hallyu-lin April 29, 2026

Saemaul Geumgo Foundation to Provide 400 Million Won to Social Welfare Facilities Nationwide MG Saemaul Geumgo Regional Hope Sharing Foundation said Tuesday it provided 400 million won this year through its “MG Warmth Sharing Event Support Program” to help expand community culture and strengthen solidarity with local communities. The program is the foundation’s flagship, locally focused social contribution effort, providing operating funds so social welfare facilities can run programs they plan themselves based on needs in the field. Supported projects include special meals for F April 29, 2026

Woori Bank, Credit Guarantee Fund to Provide 240 Billion Won in Support for Small Firms Woori Bank said Tuesday it will work with the Korea Credit Guarantee Fund to provide 240 billion won ($2400억원) in financial support to help small and medium-sized businesses weather a crisis. The bank and the fund signed a business agreement Monday on inclusive financial support to respond to a complex economic downturn. The program is aimed at easing financing burdens for SMEs facing difficulties from a global slowdown and increased volatility in financial markets, while supporting a s April 29, 2026

NTS chief warns multi-homeowners gift tax can top capital gains tax as surcharge break ends Lim Gwang-hyeon, commissioner of South Korea’s National Tax Service, warned multi-homeowners not to rush into gifting homes ahead of the end of a temporary suspension of heavier capital gains taxes, saying the tax burden is often higher for gifts than for sales.  In posts on X (formerly Twitter) and Facebook on Tuesday, Lim said the market expects more home gifts before the suspension ends, but “when you calculate the actual tax burden, gifting is often more disadvantageous.” He added tha April 29, 2026

Genesis Magma Racing Finishes Surprise Hypercar Debut at 2026 WEC Imola 6 Hours Genesis said Tuesday that its Genesis Magma Racing team successfully finished its first top-class Hypercar entry at the season-opening 2026 FIA World Endurance Championship (WEC) Imola 6 Hours. Unlike most motorsports, which typically last one to two hours and reward the fastest finish, WEC races emphasize durability, with events commonly run over six hours and sometimes eight or 24 hours. Over races that can last up to 24 hours, cars must withstand heavy loads from high-revving engines April 29, 2026

KAI, Bell Textron sign MOU on South Korea’s next-generation high-speed utility helicopter Korea Aerospace Industries, or KAI, said April 29 it signed a memorandum of understanding with U.S. aircraft maker Bell Textron on April 27 (local time) to jointly develop a solution for South Korea’s next-generation high-speed medium utility helicopter, known as HSMUH. The signing ceremony was held at Bell Textron’s headquarters in Fort Worth, Texas. Attendees included Cho Jeong-il, head of KAI’s rotorcraft business division, and Jeff Schloesser, senior vice president for strategic busine April 29, 2026

After UAE Exit, Kazakhstan and Iraq Seen as Possible Next OPEC Defectors The market is watching for the next potential crack in OPEC after the United Arab Emirates left the oil producers group, with Kazakhstan and Iraq now most often cited as possible candidates. Even so, many analysts say the OPEC framework is unlikely to face immediate upheaval. U.S. financial news outlet MarketWatch reported Monday that parts of the energy industry view Kazakhstan and Iraq as the most likely to follow the UAE. The reasoning is that both countries have room to raise crude ou April 29, 2026

SK Magic Launches MEGA ICE Water Purifier With Ice Cubes Twice the Size SK Magic said Tuesday it has launched a new product, the “MEGA ICE ice-making water purifier,” aimed at meeting summer demand for ice. The company said the model focuses on ice quality and can produce “mega ice” cubes of about 25 grams — more than twice the size of typical cubes of about 11 grams. It said a single dispense can fill a large cup, and that the firm, clear ice melts more slowly to help keep drinks and foods tasting fresh longer. SK Magic said the unit can make up to 5.7 ki April 29, 2026

South Korea Approves 3 Regional Job Projects, Pledges 21.2 Billion Won for Busan-Ulsan-Gyeongnam, Daegu-Gyeongbuk and Chungcheong The South Korean government is moving ahead with a large-scale support program aimed at more balanced regional development and job creation built around mega-regional blocs. The Ministry of Employment and Labor said Tuesday it had finalized three joint project plans under its “Wide-Area Link Project” after a public call and review process. The approved regions are Busan-Ulsan-South Gyeongsang; Daegu-North Gyeongsang; and Daejeon-Sejong-North Chungcheong-South Chungcheong. The program is April 29, 2026