PPP Yeongnam gubernatorial candidates denounce DP’s prosecution-cancellation special counsel bill The People Power Party’s five mayoral and gubernatorial candidates in the Yeongnam region on the 6th condemned the Democratic Party’s push for a “special counsel bill to cancel prosecutions,” calling it a measure that would let the president “erase his own crimes.” Kim Du-gyeom, the PPP’s Ulsan mayoral candidate; Park Heong-joon, the Busan mayoral candidate; Choo Kyung-ho, the Daegu mayoral candidate; Lee Cheol-woo, the North Gyeongsang governor candidate; and Park Wan-soo, the South Gyeongsang governor candidate made the remarks at a news conference at Ulsan City Hall’s press center. They said they would “block to the end, together with the public, the unconstitutional attempt by President Lee Jae-myung and the Democratic Party.” They argued that allowing a special counsel appointed by the president to cancel the president’s own trial would amount to improper interference in judicial procedures and a violation of the constitutional principle of separation of powers, calling it “a judicial coup disguised as legislation” and “judicial insurrection.” The candidates said Lee’s trial is currently suspended during his term and “poses no obstacle to governing,” but that seeking to eliminate his case through prosecution cancellation while in office would be an unconstitutional act that directly contradicts South Korea’s constitutional order. They also said the proposal violates the principle of equality, arguing that the president is “one citizen before the law,” and that rejecting that principle would place the president above the Constitution. “Power that seeks to stand above the law is anti-democratic and anti-republican, and the Republic of Korea, a democratic republic, strongly rejects this,” they said. The candidates criticized Lee’s request that the ruling party gather public opinion on adopting the special counsel measure, saying it appeared to be political calculation aimed at avoiding fallout in local elections less than a month away, rather than a commitment to uphold the Constitution. They claimed it was effectively an admission that the president himself is behind what they called an attempt to “launder” alleged crimes. They said the bill should not pass the National Assembly, but added that even if it does, Lee “must” exercise his veto. If he does not, they said, it would mean the president is abandoning his duty to defend the Constitution and betraying the oath made to the public. * This article has been translated by AI. 2026-05-06 11:09:15

South Korea to Send Special Envoy Yang Kyung-sook to Costa Rica President’s Inauguration The government will dispatch former lawmaker Yang Kyung-sook as President Lee Jae-myung’s special envoy to the inauguration of Costa Rican President Laura Fernandez on May 8. According to a written briefing issued Tuesday by senior Cheong Wa Dae spokesperson Kang Yoo-jung, Yang plans to meet with Fernandez to explain the Lee administration’s governing philosophy and foreign policy and to deliver Lee’s message on developing ties with the new Costa Rican government, along with a presidential letter. Kang said Yang will attend inauguration-related events, including a reception hosted by Costa Rica’s foreign minister and an inaugural reception hosted by the incoming president. Kang said Yang will also convey the Lee government’s intent to strengthen practical cooperation in areas such as the economy, infrastructure and education.* This article has been translated by AI. 2026-05-06 11:07:18

South Korea Moves to Stabilize Agricultural Film Supplies Amid Mideast War Risks As the prolonged war in the Middle East raises concerns about shortages of agricultural film, the South Korean government is launching a pilot program with private-sector partners to stabilize supplies. Under the plan, the government will work with petrochemical companies to provide raw materials to manufacturers, which will produce agricultural film and deliver it to local agricultural cooperatives. The Ministry of Agriculture, Food and Rural Affairs said Tuesday it will carry out the pilot with Jinju Horticultural Nonghyup, which operates its own film plant. The Ministry of Trade, Industry and Energy will work with Hanwha Solutions to supply raw materials for agricultural film within this week, and Jinju Horticultural Nonghyup will use them to produce film and supply it to six materials sales outlets run by local Nonghyup cooperatives. Agricultural film is used during the farming season to manage moisture, suppress weeds and block pests. In summer, farmers also use specialized film to reduce sun-scorch damage. The agriculture ministry said supplies needed for spring farming have been secured nationwide, but it sees regional imbalances. To address that, it has been working with Nonghyup to support local cooperatives in areas with low inventories. “This is the first case of producing and supplying film through cooperation with the trade ministry and Nonghyup to ensure stable supplies of agricultural film,” said Kim Jeong-uk, director general for agro-industry innovation policy at the ministry. He said the ministry will continue to monitor supply and demand and “do its best” to ensure stable supplies. * This article has been translated by AI. 2026-05-06 11:06:25

Ruling, Opposition Parties Trade Attacks in Key Races Ahead of June 3 Local Elections The ruling and opposition parties are intensifying their fight over key battlegrounds ahead of the June 3 local elections. The Democratic Party has nominated Jung Won-oh, a former Seongdong District chief, for Seoul mayor and Jeon Jae-soo, a former oceans and fisheries minister, for Busan mayor, highlighting an image of candidates who “get things done.” The People Power Party, meanwhile, is leaning on incumbency advantages and the issue of a special counsel tied to canceling indictments to rally conservative voters. Democratic Party lawmaker Park Sung-joon, People Power Party lawmaker Kim Jae-seop, Rebuilding Korea Party lawmaker Shin Jang-sik and New Reform Party lawmaker Cheon Ha-ram appeared Tuesday on CBS Radio’s “Park Seong-tae’s News Show,” trading barbs over the June 3 local elections and by-elections in contested districts. Criticism focused first on Jung, the Democratic Party’s Seoul mayoral candidate. Kim said the narrowing gap in polls reflects Jung’s slipping support rather than a consolidation of conservative voters, calling Jung’s view of Seoul “inexperienced” and “amateurish.” He said Jung’s “competent” image is deflating under scrutiny and argued that, with the indictment-cancellation issue added, “the Democratic Party will have a very hard time in Seoul.” Cheon also said Jung’s numbers in Seoul have stalled despite high presidential approval ratings, adding that questions remain about Jung, including controversy over overseas trips. Park pushed back, saying the election should test who can do the job. He said Oh “has done nothing,” asking what Oh accomplished during four terms. The Busan mayoral race also drew sharp exchanges. Park said Jeon has competitiveness as a “new product,” describing the contest as a clash between Jeon as a symbolic figure and People Power Party candidate Park Hyung-joon as an “old-era” figure. Kim countered that Jeon’s “Cartier” legal risk and a special counsel on allegedly fabricated indictments have given conservative voters a reason to turn out, saying the Busan race has “shifted a lot” thanks to the indictment-cancellation issue. Cheon added that Jeon could face growing difficulty, citing a case in which Jeon’s aide became a defendant on allegations of destroying evidence. In Pyeongtaek-eul, Gyeonggi Province, where multiple candidates are competing, the lawmakers differed on whether consolidation would occur. Kim said conflict in Pyeongtaek-eul between candidate Kim Yong-nam of the “new Lee Jae-myung” camp and Cho Kuk’s camp aligned with Roh Moo-hyun and Moon Jae-in would erupt, predicting People Power Party candidate Yoo Eui-dong would win. Shin said Yoo, despite serving three terms, failed to secure what he promised with the government and has no achievements beyond being “a Pyeongtaek person,” predicting a two-way race between Kim and Cho. Cheon said support for the president would not transfer directly to Cho and predicted that, over time, votes would move to Kim. 2026-05-06 11:02:51

AI boom reshapes South Korea's top 500 companies by sales SEOUL, May 6 (AJP) - South Korea's top 500 companies by sales saw a major reshuffle, with 35 firms newly joining or dropping off the list amid the growing influence of artificial intelligence-related sectors including semiconductors, defense, and batteries. According to a report released Tuesday by corporate tracker CEO Score, electronics giant Samsung Electronics remained No. 1 with 333.61 trillion won (US$230 billion) in sales as of the end of last year, up 10.9 percent from a year earlier and the highest on record. Hyundai Motor ranked second with 186.25 trillion won, followed by its affiliate Kia with 114.14 trillion won. Together, the two surpassed 300 trillion won in combined sales for the first time. Korea Electric Power Corporation was fourth with 97.43 trillion won, leaving the top four unchanged from the previous year. SK hynix moved up two spots to No. 5 after posting 97.15 trillion won in sales, boosted by surging demand for high-bandwidth memory (HBM). CEO Score cited the jump as a clear example of how growth in the AI chip market is reshaping corporate rankings. Defense company Hanwha rose three spots to No. 7 on increased orders, while SK On jumped to No. 9 from No. 60 following mergers among its affiliates. SK Innovation made the biggest leap, climbing 190 places on a sharp increase in dividend income. Sales levels required to make the top 500 also rose, with the minimum threshold climbing by 733 billion won or 5.5 percent, to 1.40 trillion won, while total sales of all 500 companies grew 4.7 percent to 4,305 trillion won. Thirty-five companies newly joined the list, up two from a year earlier. They included firms that grew through mergers and acquisitions, such as Hanwha Hotels & Resorts and Sono International, as well as fast-growing players like Musinsa, a streetwear brand that has become one of South Korea's hottest fashion platforms. Meanwhile, companies in construction, shipping, and aviation sectors dropped off the list. By industry, auto and auto-parts companies made up the largest group with 49 firms, followed by IT and electronics with 39, retailers with 39, services with 38, and petrochemicals and refiners with 37. 2026-05-06 10:55:34

Trump Revives Tariff Push Using Trade Act Section 301 After Supreme Court Ruling President Donald Trump has revived his tariff drive by turning to Section 301 of U.S. trade law after the Supreme Court blocked his earlier approach. With broad tariffs facing legal limits, the administration is shifting its legal basis to keep up pressure. Inside the United States, industries are split over additional duties, while abroad the European Union has mounted open opposition. The Office of the U.S. Trade Representative said on May 5 (local time) it is holding Section 301 hearings through May 8 on what it calls structural overcapacity. The review covers 16 economies, including China, the EU, South Korea, Japan, Mexico and Vietnam. The process is meant to determine whether their policies and practices burden U.S. industry and could serve as grounds for future tariffs. In February, the U.S. Supreme Court ruled illegal global tariffs Trump imposed under the International Emergency Economic Powers Act. After that, the Trump administration imposed a temporary 10% tariff on imports worldwide and moved to rely on other trade laws, including Section 301. The current hearings are widely seen as a follow-up step. U.S. industry groups have taken opposing positions. The steel industry argued that excess capacity not only in China but also in the EU and South Korea is worsening global oversupply and that additional tariffs are needed. The American Soybean Association warned new tariffs could again disrupt U.S.-China negotiations. The footwear retail industry also opposed the move, saying it could raise consumer-goods prices. The EU responded most forcefully, urging the United States to honor existing trade agreements. After the United States warned it could raise tariffs on EU-made cars and trucks back to 25%, the EU said both sides should return to the 15% level they had agreed on. French President Emmanuel Macron said the bloc should consider, if necessary, its Anti-Coercion Instrument. South Korea, rather than escalating publicly as the EU has, emphasized market principles and restructuring efforts. In the hearing, the South Korean government said “Korea’s industrial structure is based on market-economy principles” and that “voluntary restructuring and institutional support are being carried out even for items with overproduction.” On its trade surplus with the United States, it also cited the complementarity of the two countries’ industries and cooperation on strategic investment.* This article has been translated by AI. 2026-05-06 10:55:14

President Lee Calls for Step-by-Step Constitutional Amendments Ahead of Assembly Vote President Lee Jae-myung said Tuesday that pursuing constitutional change in stages, as agreement is reached, is the most realistic approach. Speaking at a Cabinet meeting and emergency economic review session at Cheong Wa Dae, Lee said a National Assembly vote on a constitutional amendment bill is expected to take place Wednesday. Lee said South Korea has undergone major political, economic and social changes since the current Constitution was adopted in 1987, but the Constitution has “stood still” for 40 years. He compared it to clothing that no longer fits a country that has changed and grown, arguing it needs to be altered. He added that under the current Constitution, it is difficult to fully safeguard the country’s present level, people’s living conditions and the nation’s future. At the same time, Lee said a full-scale revision would be burdensome and hard to achieve because of political interests. He urged a practical approach: do what is possible now rather than postponing everything. Lee said it should be self-evident to prevent any attempt to declare martial law illegally — when the country is not under martial law — to maintain power or pursue private interests, and to use the military to impose dictatorship. He questioned who could oppose writing “reasonable controls” on emergency martial law into the Constitution, adding that those who do oppose it are effectively defending illegal martial law. With the anniversary of the May 18 Democratic Uprising approaching, Lee said a tragedy like the Gwangju May 18 incident — in which weapons entrusted to protect the nation were used to kill citizens and destroy constitutional order — must never happen again. He said both ruling and opposition parties have publicly agreed to include the spirit of May 18 and the spirit of the Bu-Ma Democratic Protests in the Constitution’s preamble. He criticized opposition to doing so now, saying it makes no sense when there is a real opportunity to add it to the preamble. Lee also said strengthening local autonomy is something all citizens agree on, and urged political leaders to act on what they have long said in unison by putting it into practice in Wednesday’s vote. * This article has been translated by AI. 2026-05-06 10:54:21

SK Telecom Added to Dow Jones Sustainability World Index, Only Korean Telecom Included SK Telecom (SKT) has been added to the 2026 Dow Jones Best-in-Class (DJ BIC) World Index, the company said Tuesday. The index is used by investors as a benchmark after assessing companies’ economic, environmental and social performance. The DJ BIC is a revamped version of the Dow Jones Sustainability Index (DJSI) following a September 2025 overhaul, and is published annually by S&P Global. SKT has been included consistently since its first entry in 2008, except in 2020. The World Index is the top tier, selecting only the top 10% by industry from about 2,500 companies worldwide by market capitalization. SKT was the only South Korean telecom included this year. SKT said the latest inclusion reflects companywide efforts including board-led accountability, supply-chain ESG management, climate response and stronger industrial safety and health measures. An SKT official called it “the result of continuously advancing our sustainability management system.” The company said it strengthened governance, including recording a 100% board attendance rate in 2024, and expanded ESG inspections, training and consulting for partner companies. It also said it is pursuing a “2050 net zero” strategy through its ESG committee, building a carbon management system that includes improving power efficiency and shifting to renewable energy. In safety and health, it said it was named an excellent company for three consecutive years in a shared-growth cooperation program. Eom Jong-hwan, head of SKT’s sustainability management office, said the company will continue to advance ESG management “to fulfill the responsibilities that come with being included in the DJ BIC World Index,” and “continue sustainable growth together with customers.” 2026-05-06 10:48:26

Jung Cheong-rae Says KOSPI 7,300 Reflects Lee Government’s Market, Housing Stability Jung Cheong-rae, leader of the Democratic Party, said Tuesday that the KOSPI’s first-ever move above 7,300 was an “astonishing figure,” attributing the rise to restored confidence in South Korea’s capital markets. Speaking at a party leadership meeting at the National Assembly, Jung said the price-to-book ratio, or PBR, was 0.8 under the Yoon Suk Yeol government but has now climbed above 2.0. He said the market’s rise could be read as a sign that state affairs are stable and “Korea risk” has faded, adding that trust in President Lee Jae-myung’s governance is driving the rally. Jung also pointed to Lee’s repeated Facebook posts expressing a strong commitment to stabilizing home prices, arguing that expectations of a steadier real estate market are lifting stocks. He criticized the People Power Party for what he called ideological attacks on the Lee government, saying it should “change its mind quickly” and join what he described as a period of rising national fortunes. On constitutional revision, Jung urged the party to cooperate with passage of a proposal ahead of a planned vote at the National Assembly plenary session on May 7. The People Power Party has labeled the effort a rushed revision aimed at elections. Jung said constitutional change should ultimately be decided by voters in a national referendum. With the party opposing the measure as an official position, the Democratic Party and National Assembly Speaker Woo Won-shik have called for a free vote. Jung also attacked the People Power Party’s nominations for the June 3 local elections and parliamentary by-elections, calling them “Yoon-again” nominations. He said the party nominated Choo Kyung-ho and Lee Jin-sook, and claimed it would nominate Chung Jin-suk, whom he described as the last chief of staff to Yoon Suk Yeol. “If so, then nominate Yoon Suk Yeol from prison, too,” Jung said. He added, “On Dec. 3, they staged an insurrection with guns and swords. On June 3, are they going to stage an insurrection through nominations?”* This article has been translated by AI. 2026-05-06 10:40:40

Judge in Kim Keon Hee Appeal Case Found Dead Near Seoul High Court Shin Jong-oh, a presiding judge at the Seoul High Court who oversaw the appeal trial in first lady Kim Keon Hee’s case involving alleged Deutsch Motors stock manipulation and other charges, was found dead early Tuesday. He was 55. According to legal circles, police were dispatched around midnight after Shin’s family reported they could not reach him. Officers found him about 1 a.m. near the court complex in Seocho-dong, Seocho District, Seoul. He was taken to a hospital, where he was pronounced dead. Police said they believe Shin jumped and are investigating the exact circumstances of his death. They said no signs of criminal activity have been found so far. A note was also found at the scene, according to reports. It was said to include an apology and a statement to the effect that he was leaving on his own. It reportedly did not mention Kim’s case or the trial. Shin’s panel, the Seoul High Court’s Criminal Division 15-2, on April 28 sentenced Kim to four years in prison and fined her 50 million won on appeal on charges including violations of the Capital Markets Act. The sentence was sharply increased from the first trial’s prison term of one year and eight months. The appeals court reversed part of the lower court’s not-guilty finding and convicted her on some allegations of involvement in the Deutsch Motors stock manipulation. It also found her guilty of receiving money and valuables from the Unification Church side in connection with alleged solicitation. Shin, who was from Seoul, graduated from Sangmoon High School and Seoul National University’s law department. He passed the 37th bar exam in 1995 and served at courts including the Uijeongbu branch of the Seoul District Court, the Ulsan District Court, the Seoul High Court and the Daegu High Court. ※ If you are struggling with depression or have concerns that are difficult to talk about, or if you know a family member or friend who is having a hard time, you can reach the suicide prevention hotline at 109 for 24-hour counseling by professionals.* This article has been translated by AI. 2026-05-06 10:35:52