Budget Office to Prioritize Funding for Drones, Robots and Other Advanced Defense Capabilities The Budget Office said it will focus next year’s budget planning on securing advanced military capabilities such as drones and robots. On the 28th, the office held a meeting with officials from major defense companies at the Narakium conference hall in Seoul’s Yeouido district to discuss priority investment directions for the defense sector and ways to strengthen the defense industry ecosystem. K-defense exports have recently expanded, particularly to Europe and the Middle East, wideni April 28, 2026

Labor Minister Kim Young-hoon Pledges Stronger Laws to Involve Labor, Management in Preventing Industrial Accidents Kim Young-hoon, South Korea’s minister of employment and labor, said on the 28th that cutting industrial accidents begins with “basic respect for human life,” and pledged to focus on strengthening laws and systems so labor and management can take an active role in preventing workplace injuries and deaths. Kim made the remarks in a commemorative address after paying respects at the Industrial Accident Victims Memorial Tower in Boramae Park in Seoul’s Dongjak District. A ceremony was later April 28, 2026

MachinaRocks CEO: Physical AI Is Moving Into Factories and Battlefields “From raw-material procurement to design, production, quality and supply, the future MachinaRocks envisions is ‘fully autonomous manufacturing’ powered by artificial intelligence,” CEO Yoon Sung-ho said. Speaking at the company’s headquarters in Seoul’s Gangnam district, Yoon described the goal as an expansion of “physical AI” — AI that operates directly in real-world environments — across industry. With physical AI drawing global attention, including from Nvidia and Tesla, Yoon said Ma April 28, 2026

HD Hyundai Electric Q1 2026 Operating Profit Rises 18.4% to 258.3 Billion Won HD Hyundai Electric said in a regulatory filing on the 28th that it posted first-quarter 2026 revenue of 1.0365 trillion won and operating profit of 258.3 billion won. Revenue rose 2.1% from a year earlier and operating profit climbed 18.4%. The operating margin was 24.9%. By product, growth was led by the power equipment segment. Power equipment revenue rose 21.6% from a year earlier, supported by expanded performance in North American power transformers. Revenue from rotating machinery i April 28, 2026

KOSPI Rally Raises Minsky-Style Warnings as Leverage and Debt Build The KOSPI has been setting fresh record highs and pushing toward the uncharted 7,000 level. As investors cheer rising screens and pile into leverage, the late economist Hyman Minsky’s warning echoes: “Stability ultimately breeds instability.” The question is whether the market is at a peak celebration or nearing a cliff edge. The so-called Buffett indicator — stock market capitalization divided by nominal GDP — has topped 200% for the first time. That suggests the equity market has expanded bey April 28, 2026

Kim Yong Accepts Democratic Party’s Decision to Drop Strategic Nomination Bid Kim Yong, former deputy director of the Democratic Research Institute, said on the 28th that he “accepts the party’s decision with a heavy heart” after the Democratic Party’s strategic nomination for the upcoming by-election was scrapped, but urged supporters to back the party and “declare a firm resolve to end the aftermath of an insurrection” through the vote. Speaking at a news conference at the National Assembly that afternoon, Kim said he would respect the party’s deliberations and “ April 28, 2026

Korea Venture Investment CEO Lee Dae-hee Pledges Bigger Role for Fund of Funds, More Private Capital "Korea Venture Investment will continue to support the growth of ventures and startups as a single investment platform," CEO Lee Dae-hee said on the 28th. Speaking at a briefing to mark one year in the job, Lee reviewed the past year and outlined operating strategy and a longer-term vision for the government-backed fund of funds, known as the Motae Fund. He said the organization will expand its role beyond serving contributing institutions, aiming to connect capital with market April 28, 2026

Chey Tae-won urges Korea-Japan economic bloc to compete in U.S.-China AI race Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry and chairman of SK Group, on April 28 urged South Korea to pursue cooperation with Japan at a level approaching economic integration as a response to U.S.-China competition for dominance in artificial intelligence. Speaking at the Korea-China Parliamentary Association’s first 2026 policy seminar at the National Assembly Members’ Office Building, Chey said South Korea “must no longer remain a country that simply follows r April 28, 2026

Daewoo E&C hits 52-week high as surprise Q1 profit jump lifts shares 17% Daewoo Engineering & Construction shares surged after the company reported a surprise earnings beat. According to the Korea Exchange, Daewoo E&C was trading at 39,000 won as of 1:25 p.m. on the 28th, up 17.47% (5,800 won) from the previous session. The stock earlier climbed to 39,850 won, setting a new 52-week high. Daewoo E&C said its first-quarter operating profit rose 68.9% from a year earlier to 255.6 billion won. Revenue fell 6% to 1.9514 trillion won, while net profit j April 28, 2026

South Korea’s Q1 CD Exports Top $100 Million for First Time; U.S. Shipments Surge 506% This year’s first-quarter exports of music albums (CDs) topped $100 million for the first time, setting a record high for any quarter. The Korea Customs Service said April 28 that CD exports in the first quarter totaled $120 million, up 159.0% from a year earlier. Annual CD exports totaled $300 million last year, but this was the first time quarterly exports exceeded $100 million. With quarterly results continuing to set new highs since the third quarter of last year, the agency said th April 28, 2026