Seoul High Court cancels 234.9 billion won fine in Samsung Wellstory catering case The Seoul High Court has ruled that the Fair Trade Commission must cancel fines totaling more than 200 billion won imposed on Samsung affiliates over allegations they funneled in-house catering contracts to Samsung Wellstory. According to the legal community on April 23, the court’s Administrative Division 3, led by Presiding Judge Yoon Kang-yeol, ruled for four affiliates — Samsung Electronics, Samsung Display, Samsung Electro-Mechanics and Samsung SDI — and Samsung Wellstory in lawsuits April 23, 2026

South Korea flags 746 suspected illegal home deals in capital region probe The South Korean government said it found more than 700 suspected illegal housing transactions, including disguised gifts, in a targeted probe of deals in and around the capital. The Ministry of Land, Infrastructure and Transport said on the 23rd it conducted a planned investigation into home purchase reports filed from July to October last year, identifying 746 suspected illegal transactions involving 867 suspected violations. It said it notified relevant agencies. The ministry sa April 23, 2026

Democratic Party’s Jung Won-oh vows Seoul will match Tokyo within five years, criticizes Oh Se-hoon Democratic Party Seoul mayoral candidate Jung Won-oh said Wednesday he aims to put Seoul “shoulder to shoulder” with Tokyo within five years, while accusing Seoul Mayor Oh Se-hoon of failing on “space, the industrial ecosystem and management philosophy.” Jung made the remarks at a policy event at the National Assembly Members’ Office Building in Seoul’s Yeouido district, titled “Jung Won-oh’s G2 Seoul vision declaration, a major transformation for global city Seoul.” He said he would ma April 23, 2026

Xi Calls Yiwu Growth Model a Benchmark for ‘Correct View of Political Achievements’ Chinese President Xi Jinping has urged officials to treat the development model of Yiwu in Zhejiang province — home to what China calls the world’s largest small-commodities wholesale market — as a benchmark for a “correct view of political achievements.” The concept, which Xi has repeatedly stressed in public, calls for evaluating officials by sustainable, practical results rather than short-term gains or showpiece projects. According to China’s state-run Xinhua News Agency on Wednesday, April 23, 2026

Taiwan’s UMC Weighs Producing 2D NAND Flash Memory at Japan Plant Taiwan foundry United Microelectronics Corp. is believed to be considering producing NAND flash memory at its plant in Mie, Japan, the Economic Daily reported. The company is said to be looking at so-called mature products that memory makers in South Korea and Japan, including Samsung Electronics and Kioxia, have scaled back or exited. The product under review is a flash memory known as “2D NAND.” While competitors such as Samsung and Kioxia have shifted production toward higher-margin “ April 23, 2026

Honda Korea to Exit Auto Sales in South Korea by Year-End, Focus on Motorcycles Honda Korea will end its automobile business in South Korea about 23 years after entering the market, shifting its focus to motorcycles. The company plans to stop car sales by the end of 2026. CEO Lee Ji-hong announced the plan at a news conference on the 23rd at COEX in Seoul’s Gangnam district. “It was decided yesterday,” Lee said, adding that the company “will end its automobile sales business in Korea as of the end of 2026.” Honda Korea entered South Korea with its motorcycle busin April 23, 2026

Samsung Electronics Majority Union Rally Draws 40,000 at Pyeongtaek Plant Over Bonus Cap Samsung Electronics' cross-company union, which has secured majority-union status for the first time at the company, held a rally Thursday afternoon outside the firm's Pyeongtaek site, demanding the abolition of a cap on performance bonuses and other changes. Police and the union estimated attendance at about 40,000. The union held a preliminary gathering until 2 p.m., followed by the main rally from 2 p.m. to 3 p.m. The union is calling for performance bonuses equal to 15% of April 23, 2026

DL E&C Offers Fixed Construction Cost, 150% LTV for Seoul’s Apgujeong 5 Redevelopment Bid DL E&C has unveiled its proposal for the Apgujeong District 5 redevelopment project in Seoul, pitching a fixed construction price and aggressive financing terms under its high-end ACRO brand as it steps up its bid to win the contract. The company said April 23 it is offering the “ACRO Apgujeong” plan for the project in Gangnam-gu. The complex would span six basement levels to 68 stories above ground across eight buildings, with 1,397 households. The site is considered the largest redevel April 23, 2026

South Korean Court Gives Suspended Sentence to Driver in Mokdong Market Crash That Killed 1, Hurt 11 A 76-year-old driver who plowed a car into the Kkaebi Market in Mokdong, Seoul, in 2024, leaving 12 people dead or injured, has been sentenced to a suspended jail term. On the 23rd, the Seoul Southern District Court’s Criminal Division 5, Judge Seo Ji-won presiding, sentenced Kim, 76, to two years in jail, suspended for three years, for causing death and injury under the Act on Special Cases Concerning the Settlement of Traffic Accidents. According to the indictment, Kim was driving a April 23, 2026

KAIST-Linked Deep Tech Startup Point2 Closes $76M Series B Round The Korea Advanced Institute of Science and Technology said on the 23rd that Point2 Technology, a deep-tech startup co-founded by KAIST professor Bae Hyun-min and alumni, has secured an expanded Series B investment. The company closed the Series B round at about 100 billion won ($76 million). KAIST said it is the first Korea-based startup and the first among South Korean semiconductor companies to receive a strategic investment from Nvidia. KAIST cited Point2 Technology’s “e-Tube” techn April 23, 2026