SK Launches Impact Booster Program to Help Social Ventures Scale Up SK said Wednesday it is launching “Impact Booster,” a program designed to help social ventures that have entered a growth stage scale up. Social ventures are startups that pursue profits while offering innovative solutions to social problems. The program targets social ventures that have moved beyond pre-A funding and entered Series A or B rounds, before an IPO. SK plans to select about 10 companies each year for intensive support. Selected companies will be offered opportunities to work with major SK affiliates including SK hynix, SK Innovation and SK Telecom, along with up to 70 million won in business support funding. SK will first provide 10 million won for growth, then offer up to 60 million won more for demonstration projects after companies identify tasks to pursue with SK affiliates. SK said it will link the new program with existing initiatives such as SK Pro Bono and SE Consultant to provide integrated support. For business-to-consumer companies, it will offer product consulting and help expand sales channels. For business-to-business companies, it will support pilot projects to help them build references and attract follow-on investment. SK also plans to strengthen support by working with outside organizations, including the Seoul Business Agency to back demonstration funding and the nonprofit OnYul to provide free legal advice. SK said the program is intended to address structural hurdles faced by social ventures, which it said can be undervalued in the market because of their focus on solving social problems and can struggle to secure opportunities to break through at the growth stage. The company cited its broader efforts to build an ecosystem for businesses focused on social problem-solving, including Impact MBA to develop social entrepreneurs, Impact Unicorn to help promising social ventures grow into unicorns valued at 100 billion won or more, and SOVAC (Social Value Connect) to promote connections and cooperation among companies working on social issues. SK said the push aligns with the group’s management philosophy. SK Group Chairman Chey Tae-won has emphasized the “Double Bottom Line,” arguing that companies should pursue social outcomes alongside financial performance to ensure sustainability. Under that approach, SK said it views social enterprises and social ventures as partners for shared growth, designing support to go beyond funding by providing business cooperation with affiliates and proof-of-concept opportunities aimed at generating sales and raising company value. “While the number of social ventures in Korea has increased, many are relatively undervalued as they carry out missions to solve social problems, and often fail to secure growth opportunities,” said Ji Dong-seop, SV committee chair of the SK Supex Council. “We will be a sponsor that provides integrated support so that no company fails to make a leap because it could not get an opportunity at the growth stage.”* This article has been translated by AI. 2026-05-07 11:07:33

Labor Minister Pledges Stronger Support for New Labor Inspectors, Worker Rights The government is pushing a plan to expand the number of labor inspectors to 8,000 by 2028, and Employment and Labor Minister Kim Young-hoon said Wednesday he will significantly improve training, personnel systems and working conditions so new inspectors can take pride in their work and focus on their duties. Kim delivered a special lecture to 210 prospective labor inspectors training at Seoul National University’s Siheung campus. The recruits have been in job training since May 4 and will be assigned to frontline posts after about three months of instruction. The government is seeking to increase central and local labor inspector staffing to 8,000 from 3,000 by 2028. The newly hired inspectors joined through rolling recruitment for Grade 7 civil service positions as part of the staffing expansion. “Labor inspectors’ passion and effort, communicating directly with the public at the front lines of workplaces, are the heartbeat of our ministry,” Kim said. He urged them to do their best to protect workers’ basic rights and safeguard workers’ lives and safety through fair and swift enforcement of the law, while respecting the value of people’s labor. Kim also pledged stronger support to build inspection capabilities. The ministry has overhauled its training program through a task force of veteran inspectors, and is moving ahead with steps including expanding special promotions based on performance and competence rather than seniority, a project to cut unnecessary work, and a broad revamp of its awards system. After the lecture, Kim held a question-and-answer session with the trainees in a “new hires ask, the minister answers” format. Kim is scheduled to hold an additional meeting Thursday with 280 prospective inspectors in the industrial safety field at the Cheonan Jaeneung Education Training Institute.* This article has been translated by AI. 2026-05-07 11:06:43

South Korea Speeds Subsidy Payments for Coastal Ferry Operators to Deploy Extra Budget The South Korean government will shorten the payment cycle for subsidies to coastal shipping companies and speed up disbursements to keep ferries running smoothly on routes often described as island residents’ lifeline.  The Ministry of Oceans and Fisheries said May 7 it will quickly execute a total of 22.6 billion won in supplementary budget funds to support coastal shipping operators facing financial strain from a surge in global oil prices. The package includes oil price-linked subsidies and compensation for operating losses.  Although the maximum price for marine diesel was set at 1,923 won on March 27, it remains about 32% higher than in February. Tax-free diesel rose 68.5% to 1,382 won, the ministry said. To accelerate support, the ministry revised the payment schedule for fuel tax subsidies (6.7 billion won) and oil price-linked subsidies (6.2 billion won). Amounts that were to be paid quarterly will instead be paid monthly. Local maritime and fisheries offices and the Korea Shipping Association plan to notify operators of application procedures and methods. Operating-loss compensation had been calculated based on deficits tallied at year’s end. To speed execution, the ministry will disburse part of the deficit incurred up to those points in June and August. It will then make a final payment within 30% of the deficit amount after an accounting review by the end of October, reflecting operating results from January through September.  Of 99 coastal passenger routes, the ministry will disburse 2.9 billion won in additional operating-loss support for 42 routes by next month. Eligible routes include 29 state-subsidized routes and 13 deficit routes, including routes aimed at creating a “one-day living zone.” The remaining 57 routes will be supported using 6.8 billion won secured through a supplementary budget for the “2026 temporary operating-loss support project for short-term deficit routes.” Funds will be paid in three rounds at two-month intervals starting next month. The ministry said the subsidies are expected to ease some of the burden on operators covering losses on state-subsidized and deficit routes.  Hwang Jong-woo, the oceans and fisheries minister, said coastal passenger ships are “like a lifeline” for South Korea’s coast and that disruptions could cause serious inconvenience for island residents. He said the ministry will “do everything possible” to support normal operations through rapid fiscal execution. * This article has been translated by AI. 2026-05-07 11:05:32

North Korea 'not bound by NPT,' UN envoy says SEOUL, May 7 (AJP) - North Korea is "not bound" by the Nuclear Non-Proliferation Treaty (NPT), its representative to the United Nations (UN) said in a statement released by state media on Thursday. Kim Song, North Korea's permanent representative to the United Nations, who is currently attending the monthlong NPT review conference in New York, said that the country is "not bound by the NPT in any case," according to state-run Korean Central News Agency (KCNA). "I denounce and reject in the strongest tone the brigandish and shameless acts of the specific countries including the U.S. which are taking issue with the as a nuclear weapons state does not change in accordance with rhetorical assertion or unilateral desire of outsiders." Defending North Korea's withdrawal from the NPT, he also accused the U.S. and its Western allies of committing "a wanton violation of the spirit of the treaty and a total disregard of the purpose and principle of international law" by pressuring Pyongyang to comply with its obligations under the treaty. But he said his country would remain "faithful" to the principle of using nuclear energy peacefully and to the obligation to prevent nuclear proliferation "in a most transparent way," unlike the U.S. and some other countries, which he accused of "neglecting the obligations to nuclear disarmament as the signatories to the NPT and resorting to such proliferation acts as offer of 'extended deterrence' and transfer of nuclear submarine technology to non-nuclear states." Adopted by the UN in 1968, the NPT is an international pledge to curb the spread of nuclear weapons. North Korea declared its withdrawal from the treaty in 1993. Now in its eleventh year, the conference, which began on April 27 and runs until May 22, is held every five years to assess how the treaty has been implemented. 2026-05-07 11:04:34

South Korea Pushes to Fold IFDA Into WTO Rules, Warns of Steel TRQ Protectionism The South Korean government is again moving to incorporate the Investment Facilitation for Development Agreement, or IFDA, which it has led, into the World Trade Organization’s legal framework. The Ministry of Trade, Industry and Energy said a delegation led by Kwon Hye-jin, the ministry’s chief trade negotiator, attended the WTO General Council meeting held May 6-7 (local time) in Geneva, Switzerland. The session was the first high-level multilateral meeting since the 14th WTO Ministerial Conference, or MC-14, held in Cameroon in March. South Korea’s senior delegation, led by Trade Minister Yeo Han-koo, took part in MC-14 from March 26-30. Yeo was appointed coordinator of the WTO reform session — the first time a South Korean chief delegate held that role — and helped steer broad agreement on reform talks. However, an extension of the long-standing practice of not imposing customs duties on electronic transmissions, known as the moratorium, failed due to opposition from some members and was not adopted as a final agreement. South Korea also helped lay groundwork for implementing IFDA but did not secure a final deal. At the General Council, Kwon stressed the urgency of restoring confidence in the multilateral trading system, saying reform discussions should move quickly based on the WTO reform work plan prepared at MC-14. She said she regretted that the moratorium — maintained for about 30 years — was not extended, and argued it should be renewed to ensure stability and predictability in digital trade. On IFDA, she proposed launching detailed talks on entry into force and implementation so the agreement can make a tangible contribution to improving investment conditions in developing countries. Kwon also raised concerns that the spread of trade-restrictive measures, including import curbs on steel and other products, could undermine trade liberalization. “Relying on short-term tariff hikes can create a vicious cycle of retaliatory measures,” she said, adding that structural issues such as overcapacity and subsidies should be addressed by tackling root causes. In bilateral talks with major economies including the United Kingdom, Japan and Turkiye, the delegation voiced concerns about protectionist steps such as the steel safeguard tariff-rate quotas, or TRQs, introduced by the European Union and the U.K. The sides also exchanged views on broader trade issues. Kwon said South Korea had actively raised the TRQ issue facing its steel industry through multilateral and bilateral channels, and pledged to strengthen trade diplomacy to help restore the WTO system and protect the rights and interests of South Korean companies.* This article has been translated by AI. 2026-05-07 11:04:30

South Korea Launches Joint Task Force to Crack Down on Unpaid Wages at Construction Sites The government will begin joint public-private inspections to curb unpaid wages and overdue equipment payments at construction sites. The Ministry of Land, Infrastructure and Transport, the Ministry of Employment and Labor, the Seoul Metropolitan Government, Gyeonggi Province and the Korea Construction Equipment Association will start inspections on May 11 at 108 major construction sites in the Seoul area. Targets include 96 sites suspected of illegal subcontracting and 12 sites where payment-arrears complaints have been filed. The inspections are the first activity of a newly formed joint support team aimed at resolving payment arrears at construction sites. The team will be led by the first vice minister of land. The land ministry said it has conducted ongoing checks since November 2023 with five regional land management offices and local governments, but those efforts had limits in raising awareness in the field. Inspectors will check for illegal subcontracting and for overdue construction payments, equipment fees and wages. The land ministry, Seoul and Gyeonggi will focus on illegal subcontracting. If violations are confirmed, authorities plan administrative penalties such as business suspensions and fines, and will pursue criminal complaints in serious cases. The land ministry and the Korea Construction Equipment Association will jointly review whether equipment payments are overdue, cross-checking site records to identify harm to small equipment operators. The review will also cover alleged unfair practices related to monthly payments to tower crane operators. The labor ministry will deploy labor inspectors for surprise on-site checks, focusing on contractors with worksites where serious accidents have been frequent and on sites with multiple past wage-arrears cases. It said sites with illegal subcontracting are more likely to see serious accidents or wage theft. Authorities will also verify compliance with safety measures in higher-risk subcontracted work such as structural framing, civil engineering and plastering. They will check whether wages are overdue and whether wages are being paid directly, and will take action under relevant laws if violations are found. Kim I-tak, first vice minister of land, said disputes between construction companies and workers are increasing as “worsening domestic and external conditions” lead to unpaid construction bills and wage arrears. “We will work with relevant agencies to support resolving arrears and normalizing worksites,” he said. Kwon Chang-jun, vice minister of employment and labor, said illegal subcontracting at construction sites is a serious issue that can lead to wage arrears and industrial safety problems. “We will thoroughly check compliance with occupational safety and health measures and violations of labor-related laws,” he said. In September last year, President Lee Jae-myung said at a Cabinet meeting that wage arrears are a “serious crime,” adding that penalties have been too weak and that violators should be punished severely. Late last year, he said the problem remained serious and called for a policy approach that goes beyond existing methods.* This article has been translated by AI. 2026-05-07 11:03:15

Jeonbuk Gov. Kim Kwan-young Announces Independent Bid for June 3 Local Election Jeonbuk Gov. Kim Kwan-young on May 7 formally declared his candidacy in the June 3 local elections, saying he will run as an independent after being expelled from the Democratic Party. At a news conference at the Jeonbuk Provincial Council in Jeonju, Kim questioned whether the party’s nomination process was fair and whether it reflected the will of Jeonbuk residents. “I will seek the judgment of the residents, not the party’s nomination certificate,” he said. Kim was expelled after it became known just before the party’s primary for governor that he had handed out cash envelopes at a dinner with local young people in November and later retrieved some of the money. He said he paid the money as a substitute-driver fee to prevent drunk driving, adding, “It was my fault,” and apologized for causing residents “hurt and concern.” In a CBS radio interview on “Park Seong-tae’s News Show,” Kim said he was expelled within 12 hours without an opportunity to explain. He also claimed party leaders treated another candidate’s alleged meal-payment scandal differently, saying only two people were interviewed and the case was dismissed. Many people, he said, view the leadership’s approach as “excessively unfair.” Kim also said the timing of the release of CCTV footage showing the cash handoff suggested it may have been “strategic” and “planned.” He said he has asked police to investigate how the footage was leaked and provided. At the news conference, Kim highlighted what he called achievements over the past four years, including attracting 27 trillion won in investment and Jeonju being selected as South Korea’s candidate city for the 2036 Summer Olympics. He said Jeonbuk’s industrial landscape is changing in areas such as physical artificial intelligence, secondary batteries, biotech, defense, renewable energy, Saemangeum and a financial hub, and pledged to be accountable for companies’ investment commitments. Democratic Party candidate Lee Won-taek criticized Kim’s decision to press ahead with an independent run, saying the day before that once a primary ends, candidates need a culture of accepting the result and reflecting.* This article has been translated by AI. 2026-05-07 11:00:14

Kakao CFO: Governance Simplification to Cut Affiliates to 87 After Kakao Games Restructuring Shin Jong-hwan, Kakao’s chief financial officer, said on a first-quarter 2026 earnings conference call on Wednesday that the company is carrying out a governance simplification plan that has reduced the number of consolidated subsidiaries to 93. He said the total number of affiliates is expected to fall to about 87 once procedures related to gaming unit Kakao Games are completed. Shin said the planned restructuring of Kakao Games this year, following the sale of a stake in Kakao Healthcare at the end of last year, is aimed at building a structure in which each business can grow with partners that have strong expertise and execution capabilities. He said Kakao will step down as the largest shareholder but remain as a minority shareholder, allowing it to share in gains from future growth and rising value of the businesses. 2026-05-07 10:57:03

Rachel Zegler’s Met Gala Red Carpet Expressions Spark Online Debate Rachel Zegler, the lead actor in the live-action remake of the film “Snow White,” drew attention for unusual facial expressions on the red carpet at the 2026 Met Gala. Zegler appeared on the red carpet May 4 (local time) at the Metropolitan Museum of Art in New York. She wore an Atelier Prabal Gurung dress and a custom silk blindfold by Jennifer Behr. The blindfold was inspired by the 1833 painting “The Execution of Lady Jane Grey,” a look aligned with this year’s Met Gala dress code, “Fashion is art.” What drew the most notice, however, was Zegler’s expression. According to Britain’s Metro and other outlets, she repeatedly pushed out her jaw and appeared to twist it side to side, prompting immediate online reaction. Viewers responded with comments such as, “What is she doing?”, “Why is Rachel Zegler moving her mouth like that …,” “This isn’t normal behavior,” and “Is something wrong with her face, or is she doing it on purpose?” reports said. Others defended her. According to foreign media reports, some fans said the expressions were intentional and matched the outfit’s concept, writing that Zegler was “just striking the best pose” and that it was “part of the style.” Zegler has previously faced strong criticism over claims that the live-action “Snow White” undermined the original’s identity. The film failed at the box office, and Zegler later drew controversy after saying the original Snow White was outdated and that the prince was “a man who stalks Snow White.” 2026-05-07 10:54:15

Sulwhasoo Targets Japan With Pop-Up Experience at @cosme Tokyo Amorepacific’s luxury cosmetics brand Sulwhasoo is stepping up its push into Japan, setting up a brand experience space at the country’s largest beauty platform to go beyond sales and introduce its K-luxury skincare philosophy and heritage. According to the beauty industry on the 7th, Sulwhasoo will run a large-scale brand experience event through the 12th at @cosme Tokyo in Tokyo. @cosme Tokyo is a leading Japanese beauty platform where brand trust is built on consumer reviews and in-person testing, and it is considered a key retail channel that strongly influences purchasing decisions. Sulwhasoo said it is prioritizing building trust to appeal to Japanese consumers known for demanding standards in basic skincare. Rather than focusing on immediate results or sales volume, the brand plans to emphasize its long-standing story of blending Eastern aesthetics with modern science. Pop-up visitors can try Sulwhasoo’s signature lineup and experience the brand firsthand. The move is also drawing attention as part of Amorepacific’s broader expansion strategy in Japan. In 2022, the company placed Laneige officially on @cosme, marking a major step in its Japan entry. More recently, it has reported notable growth in Japan led by function-focused derma cosmetic brands such as Aestura and COSRX. By widening customer touchpoints for Sulwhasoo, the group’s flagship high-end brand, Amorepacific aims to strengthen its position in Japan’s beauty market as a leading K-beauty company. “Using this brand experience event as a starting point, Sulwhasoo plans to gradually expand brand awareness in Japan and continue strengthening points of contact with local consumers,” an Amorepacific official said. 2026-05-07 10:52:11