South Korea Stock Market Jumps to No. 8 Globally by Value, Passing U.K., on AI Chip Rally South Korea’s stock market has risen to the world’s eighth-largest by market capitalization, overtaking the United Kingdom as a surge in artificial intelligence and semiconductor shares pushed the benchmark KOSPI sharply higher, Bloomberg News reported on the 28th. Bloomberg data showed South Korea’s market capitalization has climbed 45% so far this year to about $4.04 trillion, edging past the U.K. at $3.99 trillion. As recently as the end of 2024, the U.K. market was about twice the si April 28, 2026

Seoul’s Low-Sugar ‘Seoul Bread’ Tops 10,000 Sold in 10 Days SEOUL — Seoul’s new “Seoul Bread,” developed with a private bakery company, has sold more than 10,000 units in just 10 days, the city government said. Officials credited the strong response to a “less sweet, clean-tasting” health concept that aligns with growing consumer interest in low-sugar foods. Seoul said on the 28th that “Seoul Sweet Red Bean Bread” and “Seoul Whole-Wheat Bread,” jointly planned with Koryodang, an 80-year-old bakery company, recorded cumulative sales of 10,339 a April 28, 2026

NgeneBio shares plunge 25% on capital reduction and $224 million stock offering plan Shares of NgeneBio tumbled after the company announced it will pursue a capital reduction and a stock offering at the same time. According to the Korea Exchange, NgeneBio was trading at 1,226 won on the KOSDAQ as of 1:18 p.m. on the 28th, down 419 won, or 25.47%, from the previous session. The drop was widely attributed to concerns that a large capital reduction and a new share sale would dilute shareholder value and weigh on sentiment. NgeneBio said it decided at a board meeting the April 28, 2026

ST Pharm Shares Rebound After Early Profit-Taking Despite Strong Q1 Results ST Pharm, which recently posted strong earnings, fell early on profit-taking but later rebounded. According to the Korea Exchange, ST Pharm was trading at 168,400 won as of 1:16 p.m. on the 28th, up 0.54% from the previous session. The stock had slid as much as 3.34% intraday to 161,900 won before recovering. In a filing the previous day, the company said preliminary first-quarter consolidated revenue rose 27.7% from a year earlier to 67.0 billion won, while operating profi April 28, 2026

Court Upholds Rep. Kwon Seong-dong’s 2-Year Sentence for Illegal Political Funds A South Korean appeals court on Monday upheld a two-year prison sentence for People Power Party lawmaker Kwon Seong-dong for taking illegal political funds from figures linked to the Unification Church. The court rejected appeals by both Kwon and the special prosecutor, leaving the lower court ruling intact. The Seoul High Court’s Criminal Division 2-1 maintained the original sentence of two years in prison and forfeiture of 100 million won for violating the Political Funds Act. Kwon wa April 28, 2026

South Korea to Expand Employment Retention Subsidies Nationwide, Speed Wage Recovery The government will expand the scope of employment retention subsidies from designated regions and industries to the entire country when nationwide employment conditions sharply deteriorate. It will also curb support for employers with repeated wage arrears and move faster to collect repayments tied to unpaid wages. The Ministry of Employment and Labor said April 28 that the Cabinet reviewed and approved amendments to the enforcement decrees of the Employment Insurance Act and the Wage Cla April 28, 2026

South Korea Doubles Reusable Cup Points, Adds 300,000 Lodging Coupons for Depopulating Areas 정부가 중동전쟁에 따른 에너지 위기에 대응하기 위해 ‘친환경 녹색소비’ 확산에 나섰다. 다회용컵을 이용하면 적립되는 탄소중립포인트가 300원에서 600원으로 한시 상향되고, 비수도권 인구감소지역 숙박쿠폰은 30만장 추가 공급된다. 재정경제부는 28일 이재명 대통령 주재 국무회의에서 ‘친환경 녹색소비·관광 붐업 방안’을 발표했다. 정부는 다음 달까지 녹색소비를 집중 홍보하고 6월을 ‘녹색소비주간’으로 지정해 참여를 확대하기로 했다. 지역사회·기업·공공부문이 함께하는 ‘모두의 녹색소비’ 캠페인과 녹색제품 구매 April 28, 2026

South Korea Extends Remedies on Hanwha Defense Merger Up to 5 Years, Citing Ongoing Monopoly Concerns South Korea’s Fair Trade Commission said April 28 it will extend, for up to five years, the period for corrective measures imposed as a condition for approving the business combination involving Hanwha Aerospace, Hanwha Systems and Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering). The FTC said it will extend the measures for three years and, if needed, add up to two more years. The FTC approved the combination in May 2023 after a full-commission meeting and ordered April 28, 2026

China Media Defends Block on Meta’s Planned Acquisition of AI Startup Manus China’s state media on Tuesday defended the government’s decision to block U.S. tech giant Meta from acquiring Chinese-founded AI startup Manus, calling the move “reasonable, lawful and consistent with international practice.” China’s National Development and Reform Commission said the previous day it had decided, “in accordance with the law,” to ban foreign capital from acquiring the Manus project and had asked Meta to withdraw from the deal. Manus, founded in China, drew attention afte April 28, 2026

South Korea to Brief Exporters on New EU Packaging Rules Taking Effect in August The South Korean government is stepping up support for industry as the European Union prepares to enforce new packaging rules in August. The Ministry of Climate, Energy and Environment said Monday it will hold a joint government briefing Tuesday at the National Railroad Authority auditorium in Dong-gu, Daejeon, titled “Joint Government Briefing on Global Regulations in the Packaging Materials Sector.” The session is designed to help domestic companies respond to the EU’s Packaging and Pa April 28, 2026