Soaring Materials Push Up Construction Contract Costs; Samsung, Hyundai, Daewoo Up Over 1 Trillion Won Rising construction costs are reshaping the mood across South Korea’s building sector. With higher raw material and labor costs persisting, contractors are repeatedly revising previously disclosed single sales-and-supply contract amounts, a sign that cost pressures at job sites are becoming harder to absorb. Samsung C&T, Hyundai Engineering & Construction and Daewoo Engineering & Construction have raised contract amounts by more than 1 trillion won combined so far this year. O April 24, 2026

South Korea Industry Ministry Says Culture Improved After 5 Months Cutting 'Fake Work' The Ministry of Trade, Industry and Energy said more than half of its employees believe the agency’s workplace culture has improved since it launched a drive to cut what it calls “fake work.” The ministry said it held its second town hall meeting on Thursday at the Government Complex Sejong, with about 500 employees from headquarters and affiliated agencies attending. The meeting, chaired by Minister Kim Jeong-gwan, reviewed progress and next steps for the “fake work reduction” project lau April 24, 2026

LH Signs Pact to Advance Vietnam’s Bac Ninh New Town Project Korea Land and Housing Corp. (LH) said Thursday it signed a basic agreement to launch a public-private consultative body to move forward with the Vietnam Bac Ninh Southeast New Town development project. The signing ceremony was held Monday in Hanoi as part of the “Korea-Vietnam Mutual Growth and Development Cooperation Forum” hosted by South Korea’s Ministry of Land, Infrastructure and Transport. Attendees included Land Minister Kim Yun-deok and Le Anh Tuan, vice minister of Vietnam’s April 24, 2026

Rep. Choo Mi-ae Pledges Support for Samsung’s Pyeongtaek Plant, Yongin Chip Cluster Democratic Party lawmaker Choo Mi-ae visited Samsung Electronics’ Pyeongtaek campus on April 24, touring semiconductor production facilities and holding a meeting to discuss policy support for the chip industry, Samsung said. Choo was joined by lawmakers Hong Ki-won and Kim Hyun-jung, as well as Pyeongtaek mayoral candidate Choi Won-yong and Yongin mayoral candidate Hyun Geun-taek. Samsung executives attending included Vice Chairman Jun Young-hyun and presidents Kim Yong-kwan, Kim Wan April 24, 2026

South Korea’s Q1 Livestock Herds Fall; Broiler Chickens Rise Major livestock numbers in South Korea fell in the first quarter of 2026, with broiler chickens the only category to increase, according to a government survey released Thursday. The National Data Center said its “2026 first-quarter livestock trends survey” showed that as of March 1, the combined number of Korean native cattle and beef cattle totaled 3,218,000, down 4.9% from a year earlier. With fewer breeding cows, the number of animals under 1 year old fell 6.9%, those aged 1 t April 24, 2026

South Korea Sets 1,714 Passers for 15th Bar Exam, Urges Absolute Grading for Electives South Korea’s Justice Ministry has finalized 1,714 successful candidates for the 15th bar exam and issued recommendations to overhaul how lawyers are selected and trained, including adopting absolute grading for elective subjects. The ministry said April 24 it set the pass list after deliberations by the bar exam management committee on April 23 and after reflecting opinions from the Supreme Court, the Korean Bar Association and the council representing law schools. Those who scored at le April 24, 2026

Korea Land Trust Pulls Out of Bundang Yangji Village Redevelopment Bid, Citing Fairness Concerns Korea Land Trust said it will not participate in the bid to select a preliminary project operator for the integrated redevelopment of Yangji Village in Bundang, widening debate over the fairness of the process and the adequacy of procedures. The company said on the 24th that it would not take part in the tender for the project’s preliminary operator selection. The Yangji Village integrated redevelopment is a large project covering six complexes — including Hanyang, Kumho and Cheonggu — t April 24, 2026

HS Hyosung Vice Chairman Cho Hyun-sang Hosts K-Culture Event at Techtextil 2026 in Germany HS Hyosung Advanced Materials took part in Techtextil 2026, billed as the world’s largest industrial materials exhibition, held in Frankfurt, Germany, from April 21 to 24 local time. The company said April 24 that global partnerships were further strengthened through “HS Hyosung Night,” hosted by Vice Chairman Cho Hyun-sang. HS Hyosung held the event on the evening of April 22, the exhibition’s second day, inviting about 130 guests including representatives from global companies such as A April 24, 2026

Hyundai Card Q1 Net Profit Rises 5.4% to 64.7 Billion Won Hyundai Card reported higher first-quarter net profit, extending year-over-year gains as membership and credit card spending increased and interest costs fell. In a regulatory filing on the 24th, the company said net profit for the January-March period totaled 64.7 billion won, up 5.4% from 61.4 billion won a year earlier. Operating revenue rose 22.4% to 1.1815 trillion won, while operating expenses increased 23.5% to 1.0936 trillion won. Interest expenses declined 5.8% to 179.7 billi April 24, 2026

South Korea Overhauls Volunteer Service Law for Citizen-Led System After 21 Years The Ministry of the Interior and Safety said on the 24th that the National Assembly has passed a full revision of the Framework Act on Volunteer Service to foster a self-sustaining, civil society-led volunteer ecosystem. The revision aims to build a “citizen-centered volunteer ecosystem” that expands volunteers’ autonomy and creativity, building on infrastructure previously developed by the government. Under the revised law, government-run volunteer centers will be phased out. Of the nati April 24, 2026