Corporate Credit Downgrades Accelerate, Testing Banks’ Bad-Loan Risk Banks have begun regular corporate credit-rating reviews as Middle East-driven geopolitical risks and tougher U.S. tariff barriers add downward pressure on manufacturers’ credit profiles. Corporate delinquencies have jumped nearly fourfold in just three months, but banks, constrained by regulators’ “productive finance” policy stance, have been reluctant to raise rates or pull credit from borrowers facing downgrades. According to the financial industry on Monday, major banks started th April 28, 2026

Hyundai Duty Free Opens New Incheon Airport DF2 Zone, Targets 1 Trillion Won in Annual Sales Hyundai Duty Free has begun operations in Incheon International Airport’s DF2 zone, expanding its footprint to three of the airport’s six duty-free areas: DF2, DF5 and DF7. The company said it is now the airport’s largest duty-free operator and the only one there offering every major category, from luxury and fashion to cosmetics and liquor. The company said Tuesday it started full-scale business in DF2 across the airport’s Terminal 1 and Terminal 2. The DF2 zone covers 4,571 square m April 28, 2026

Lotte Fine Chemical Q1 2026 Operating Profit Jumps 73.9% to 32.7 Billion Won Lotte Fine Chemical reported preliminary first-quarter 2026 results on the 28th, posting revenue of 510.7 billion won and operating profit of 32.7 billion won. Revenue rose 14.6% from a year earlier, while operating profit jumped 73.9%. The company cited stronger earnings from higher sales of TMAC (tetramethylammonium chloride aqueous solution), a raw material used in semiconductor developer solutions, amid a boom in the chip market. It also pointed to higher international prices fo April 28, 2026

Lotte Department Store’s Incheon Branch Completes 3-Year Renovation, Targets 1 Trillion Won in Annual Sales Lotte Department Store’s Incheon branch has completed a sweeping renovation that took about three years, and the retailer said it is aiming to become the first department store in western Seoul metro area to reach 1 trillion won in annual sales. The Incheon store will hold a “grand open” event on May 1, Lotte said Monday, marking the final stage of the renovation that has been carried out in phases since 2023. The overhaul centered on an upscale strategy to match fast-changing local April 28, 2026

Doosan Bobcat Q1 2026 Operating Profit Rises 3.5% to 207 Billion Won Doosan Bobcat said in a regulatory filing on the 28th that it posted first-quarter 2026 revenue of 2.2473 trillion won and operating profit of 207 billion won. Revenue rose 7.1% from a year earlier and operating profit increased 3.5%. Net profit climbed 15.9% to 131.4 billion won, helped by lower financial costs. In dollar terms, revenue and operating profit increased 6.2% and 2.6%, respectively, maintaining an overall growth trend. By region, Europe, the Middle East and Africa grew 18% o April 28, 2026

Kia Modernizes South Korea’s Military Trucks, Expands Exports Military trucks remain the South Korean military’s workhorse for moving troops and supplies. Many reservists remember riding in the troop carriers commonly known as “Yukgong” or “Dudonban.” As battlefield systems modernize, so do the trucks — now designed for combat use and equipped with features once unthinkable in the field, including navigation. Kia says the vehicles are also finding buyers abroad, including in Europe and the Middle East. ◆Military trucks as infantry transport During b April 28, 2026

Korean Bar Association, LAWASIA sign MOU to support 2026 Seoul general meeting The Korean Bar Association and LAWASIA said April 28 they signed a memorandum of understanding to help ensure the successful staging of the 2026 LAWASIA Seoul general meeting. The signing ceremony was held April 27 in the main conference room of the Korean Bar Association building in Seoul’s Seocho District. Attendees included Korean Bar Association President Kim Jeong-uk, LAWASIA President Yap Teong Liang and other officials from both organizations. Under the agreement, the two sides w April 28, 2026

Vance Questions Accuracy of Pentagon’s Iran War Briefings to Trump, The Atlantic Reports With U.S.-Iran talks to end the war stalled, Vice President JD Vance has questioned whether the Pentagon is accurately reporting the state of the war and U.S. weapons stockpiles to President Donald Trump, The Atlantic reported. Citing the magazine’s report dated April 27 (local time), Vance has raised concerns about the accuracy of war-related information coming from the Defense Department led by Defense Secretary Pete Hegseth. He has also directly brought up the availability of certain m April 28, 2026

South Korea Launches WAVE Strategy Council to Link Shipbuilding and Shipping South Korea’s oceans and industry ministries and private-sector partners on Monday launched a joint cooperation framework aimed at strengthening competitiveness by more closely linking the shipbuilding and shipping industries. The Ministry of Oceans and Fisheries and the Ministry of Trade, Industry and Energy held a launch ceremony in Seoul for the Shipbuilding-Shipping Mutual Growth Strategic Council. Attendees included the two ministers, officials from Korea Gas Corp., the Korea Offshor April 28, 2026

President Lee Jae-myung urges unity at Admiral Yi Sun-sin birthday ceremony "Just as Gen. Yi Sun-sin saved the nation from a national crisis, it is our mission to overcome today’s challenges together," President Lee Jae-myung said Monday, calling for national unity at a ceremony in Asan, South Chungcheong Province, marking the 481st birthday of the naval commander honored as Chungmugong. It was the first time an incumbent president attended the annual event since the late former President Kim Young-sam. Lee said the country faces he April 28, 2026