Appeals court sentences Kim Keon Hee to 4 years in prison in stock manipulation, graft case Kim Keon Hee, who was indicted over alleged Deutsche Motors stock manipulation and receiving valuables tied to the Unification Church, was sentenced on appeal to four years in prison. The Seoul High Court’s Criminal Division 15-2 on Monday sentenced Kim, who was indicted in custody, to four years in prison and a 50 million won fine for violations of the Capital Markets Act and the Political Funds Act, and for bribery for influence-peddling under the Act on the Aggravated Punishment of Specific Crimes. The court also ordered the forfeiture of one Graff necklace and about 20.94 million won in additional collection. The panel said the crimes were serious, citing damage to “fairness in the stock market and investor trust.” Unlike the first trial, the court found part of the Deutsche Motors stock manipulation charge proven. It said Kim provided a securities account containing 2 billion won and entrusted trading, and that she sold 180,000 shares at a specific time and price, recognizing her participation in price manipulation. On the Unification Church-related allegations, the court found the influence-peddling charge fully proven, going beyond the first trial’s partial guilty finding. It said Kim accepted money and valuables while recognizing an implicit request. However, as in the first trial, the court acquitted Kim of allegations tied to Myung Tae-kyun involving free polling services. The panel said the polls were provided to multiple people, making it difficult to view them as a property benefit. Kim’s lawyers said after the ruling that they intend to appeal to the Supreme Court. * This article has been translated by AI. 2026-04-28 17:45:58

Majesty Golf Signs Veteran Kim Young, Expands Customer Events in May Majesty Golf has signed veteran Kim Young to its Team Majesty roster and plans to step up customer outreach in May, which is widely observed in South Korea as Family Month. Kim has one win on the LPGA Tour, five on the KLPGA Tour and one on the JLPGA Tour, the company said. Majesty Golf said the partnership was built in part on Kim’s prior use of Majesty clubs when she won on the Japanese tour. With Kim’s addition, Majesty Golf said it will strengthen marketing around its recently released Prestigio 14 line. The company said it will move beyond product promotion by expanding opportunities for customers to experience the brand through club demo sessions and lesson events in which Kim will participate directly. Customer-participation programs are also planned throughout May across major channels including Shinsegae, Hyundai and Lotte department stores, as well as Golfzon Market and AK Golf, the company said. A Majesty Golf official said the company has continued activities to broaden customer contact since the launch of Prestigio 14 and will expand chances in May for customers to experience both a professional golfer and the brand. The official added that Majesty Golf will continue brand activities with Kim to communicate more closely with customers.* This article has been translated by AI. 2026-04-28 17:45:15

South Korean Lawmakers Weigh Token Securities as Tool to Share Real Estate Gains, Curb Jeonse Fraud Tokenized securities, known as STOs, could become a new financial tool to share profits from real estate development with the public and help reduce damage from jeonse rental fraud, speakers said at a National Assembly-linked forum as South Korea prepares to bring STOs into the regulated system. The Democratic Party’s Digital Assets Task Force held a discussion on April 28 at the Korea Financial Investment Association’s training center in Seoul’s Yeouido district, focusing on real estate finance models using STOs and possible responses to jeonse fraud. Participants included In Ho, a professor at Korea University’s Blockchain Research Institute (KDAA); Hong Seung-pil, a professor at Hanshin University; Ahn Chang-won, a program manager at the Institute of Information & Communications Technology Planning & Evaluation; Kim Jin-hoe, an official at the Ministry of Science and ICT’s Digital Society Planning Division; Kim Dong-wook, a managing director at Hana Securities; Chu Hyo-hyun, vice president at Apanda Partners; and Park Sang-wook, a unit head at Bankware Global. In, the first presenter, proposed using STOs to return a share of real estate development gains to the public. “Global tokenized assets are expected to grow to about $16 trillion by 2030,” he said, adding, “We no longer have time to stay at the starting line.” He said STOs had been limited by a lack of legal basis and the absence of a secondary market, but that revisions to laws have now created an institutional foundation. “It’s time to move to the execution stage,” he said. In outlined three real estate STO models: a national housing welfare fund model, a presale-linked model and a national dividend model. Under the concept, the public could participate in development projects and share profits in the form of dividends. “Traditional real estate development has been a zero-sum structure among stakeholders, but applying STOs shifts it to a structure where everyone shares gains,” he said. He described it as providing “basic assets,” not basic income, to the public. Hong presented a “jeonse deposit STO” model, saying tokenizing the deposit structure could help ease problems. He said blockchain could transparently record property rights information, while smart contracts could automate contract performance and compensation procedures. “Smart contracts are difficult to manipulate and execute automatically, which can lower the risk of jeonse fraud,” Hong said. “Tenants can reduce deposit risk, and landlords can secure asset liquidity.” He added that combining artificial intelligence for abnormal-transaction detection and risk forecasting could enable a more sophisticated real estate finance system. The National Assembly passed amendments in January to the Electronic Securities Act and the Capital Markets Act to introduce STOs. With the system set to take effect on Feb. 4 next year, detailed rules are being designed. The Financial Services Commission last month held the first meeting of a public-private “token securities consultative body” to discuss operating plans and policy direction. The group is to run on an ongoing basis through four working divisions covering technology and infrastructure, issuance, distribution and settlement.* This article has been translated by AI. 2026-04-28 17:37:05

Survey: 75% of South Korea visitors cite K-culture as key reason for trip K-culture is emerging as a major driver of South Korea’s tourism growth, with foreign visitors drawn by Korean music, TV and other cultural content staying longer and spending more than other travelers, according to an Airbnb global survey report. Airbnb released the findings at a media briefing on April 28 in Seongsu-dong, Seoul. The survey covered 4,500 travelers in the Asia-Pacific region and the United States who have visited South Korea or plan to visit. In the survey, 94% said K-culture influenced their interest in traveling to South Korea, and 75% cited it as a core reason for visiting. Those travelers spent an average of $435 more per person than travelers visiting for other reasons. In addition, 88% said they stayed, or plan to stay, at least three nights, and 68% said they tend to travel with friends or family. Sharon Chan, Airbnb’s head of communications for Asia-Pacific, said K-culture has become “a powerful magnet and engine” drawing travelers to South Korea. She said K-culture fans are not just consuming content but want to immerse themselves in everyday life and experience local culture firsthand. Airbnb said it is expanding hands-on offerings to turn that interest into real travel experiences. It will run a large pop-up in Seongsu-dong from May 1 to 7 in collaboration with the group Cortis. The “Airbnb Originals” experience is designed to reflect the artists’ personalities in the space and enable deeper interaction with fans. The company has pursued similar K-pop-linked stays and experiences in recent years, including accommodations tied to 2022’s “In the SOOP BTS ver. Season 2,” a 2024 stay recreating a space from Seventeen’s music video, and a 2025 experience marking a 10th debut anniversary. It has also offered immersive content by turning well-known landmarks into places to stay, including “Sky Suite, Hangang Bridge, Seoul,” and an overnight event at Dongdaemun Design Plaza (DDP). Still, industry concerns remain that K-culture’s tourism spillover beyond Seoul will require addressing chronic lodging shortages in regional areas. In the survey, 83% of potential travelers said the availability of suitable accommodations outside major cities was an important factor in booking decisions. Among potential MZ-generation travelers who are driving K-culture trips, 53% said lodging availability, including shared accommodations, was a key factor in whether they would visit South Korea. Another 34% said they would delay or reconsider a trip if they could not find suitable lodging. Seo Ga-yeon, Airbnb Korea country manager, said the company’s goal is to help ensure strong interest in K-culture spreads nationwide and leads to “a complete trip” with deeper cultural engagement. She said Airbnb would actively cooperate on expanding lodging infrastructure and improving systems, including reforms to the foreign tourist city homestay business framework, and contribute in practical terms to achieving an era of 30 million foreign visitors. 2026-04-28 17:36:09

South Korea: E-Finance Payment Fees Edge Down; Card Rate Averages 1.98% Electronic financial services firms’ payment fees have inched down, a sign that the disclosure system is helping strengthen market discipline. According to the Financial Supervisory Service’s report released on the 28th on payment-fee disclosures, the weighted-average fee rates for 18 covered firms from September last year through February were 1.98% for card payments and 1.74% for prepaid payments. Compared with the previous disclosure period (February to July last year) based on 11 firms, the card payment fee rate fell by 0.01 percentage points and the prepaid payment fee rate dropped by 0.07 percentage points. Card payment fees showed little variation across four major business types: dedicated payment gateway providers, or PGs (2.01%); dual-business PGs (1.80%); shopping mall-type operators (2.08%); and delivery platform-type operators (2.01%). Fees for small and midsize merchants were lower than those for general merchants. Prepaid payment fees varied widely: delivery platform-type and shopping mall-type operators posted 3.00% and 2.38%, respectively, while dual-business PGs and dedicated PGs recorded 1.63% and 0.30%. The FSS attributed the gap to the prepaid business model, in which operators manage the full process — including issuing prepaid value and settling with merchants — resulting in a higher share of fees retained by the operator. The operator-retained share averaged 80.6% for prepaid fees, compared with 10.6% for card fees. The watchdog said fees declined slightly from the prior disclosure period, indicating the disclosure system is having some effect. Payment fee rates are set autonomously by firms based on business strategy and cost structure. Card payment fees generally favor smaller merchants, and the FSS said prepaid fees, while differing by company, are also being set at levels similar to card fees across merchant sales brackets. The FSS plans to expand the disclosure 대상: from firms with monthly payment volume of at least 500 billion won this year to at least 200 billion won next year, and to all firms in 2028.* This article has been translated by AI. 2026-04-28 17:34:56

Samsung Electro-Mechanics CEO says AI, autonomous driving growth is an opportunity Samsung Electro-Mechanics held its “2026 Partner Cooperation Day” on April 28 with key suppliers, highlighting joint growth and recognizing partners for innovation over the past year. About 200 people attended, including CEO Jang Deok-hyeon; Lee Dal-gon, chairman of the Commission for Shared Growth; and Kwon Hyuk-seok, vice chairman of the suppliers’ council and CEO of MK Chem&Tech. Jang said the company sees opportunity in the sectors it is focusing on, citing “continued high growth in the artificial intelligence (AI) industry and the advancement of autonomous driving systems.” He urged partners to “create competitive products together with differentiated core technologies.” Samsung Electro-Mechanics presented awards to five suppliers for innovation in four areas last year: productivity, technology development, quality and a special category. Woosung SE, which supplies equipment for multilayer ceramic capacitors (MLCC), received a productivity innovation award for shortening equipment manufacturing and setup schedules. In quality innovation, Jeongjin Nextech, a supplier of camera module-related parts, was recognized for introducing a new process, while Abico Tech, which performs lamination for package substrates, was honored for improving lamination quality. The company also introduced support programs aimed at strengthening suppliers’ competitiveness, including financial assistance, ESG management consulting, technology protection and professional training. Starting this year, Samsung Electro-Mechanics will open its patents to suppliers to help them build practical product and technology competitiveness. It also held a product and technology exhibition by suppliers for the first time, creating a forum to share technology trends and explore cooperation opportunities. A company official said Samsung Electro-Mechanics plans to actively support domestic and overseas market development so showcased technologies can lead to commercialization. 2026-04-28 17:34:23

Google Signs AI Contract With Pentagon, Joining OpenAI and xAI The U.S. Department of Defense has signed a contract to use Google’s artificial intelligence models, The Information reported April 28, citing a source. Under the deal, the Pentagon would use Google’s AI for “any lawful government purpose,” including classified work such as operational planning and weapons targeting, the report said. The contract is said to include language stating both sides agree the AI system is not intended to be used — and must not be used — for large-scale domestic surveillance or autonomous lethal weapons, including selecting targets, without appropriate human oversight and control. However, it also says the agreement does not grant any right to control or deny the government’s lawful operational decision-making, according to the report. That wording has been interpreted to mean Google’s “Gemini” model could be used for surveillance of Americans or autonomous lethal weapons depending on circumstances, if needed. A Google spokesperson told Reuters, “Providing API access to our commercial models, including Google infrastructure, in line with industry-standard practices and terms, is what we believe is a responsible approach to supporting national security.” Reuters said Google is the third company to sign an AI deal with the Pentagon, following OpenAI and xAI, the AI startup founded by Tesla CEO Elon Musk. The Pentagon last year signed separate AI-use contracts worth up to $200 million each with major AI companies including Google, OpenAI and Anthropic. Afterward, Anthropic clashed with the Pentagon over a requirement that its AI model be used for “any lawful government purpose,” saying it did not agree to use for “large-scale domestic surveillance” or “autonomous lethal weapons development.” The Defense Department terminated its contract for Claude, and the Donald Trump administration issued an order banning Claude’s use within U.S. government agencies. More recently, President Trump said the Pentagon’s use of Claude could be possible, raising the prospect of a new contract, the report said.* This article has been translated by AI. 2026-04-28 17:33:43

Kumho Tire Q1 Operating Profit Rises 0.3% to 147 Billion Won Kumho Tire said Monday its first-quarter operating profit rose 0.3% from a year earlier to 147 billion won on a consolidated basis. Revenue fell 3.2% to 1.1678 trillion won, while net profit increased 0.4% to 103.4 billion won. The company said quarterly revenue topped 1.1 trillion won, supported by strong supplies of original equipment tires for new vehicles in North America and Europe and solid sales of higher-margin replacement tires. It has kept quarterly revenue above 1 trillion won for 10 straight quarters since the fourth quarter of 2023. In the first quarter, tires 18 inches and larger accounted for 45.1% of sales. EV tires made up 20.6% of global original equipment revenue, the company said. Kumho Tire has set targets for this year of 5.1 trillion won in revenue, a 47% share for 18-inch-and-larger tires, and a 30% share for EV tire supplies. The company said it plans to build a global production network linking Korea, Europe and North America by expanding plants in Hampyeong and constructing a factory in Europe, aiming to grow its market presence and improve profitability.* This article has been translated by AI. 2026-04-28 17:33:16

South Korea to Offer Unsecured Credit Guarantees to Shippers Hit by Mideast War The Ministry of Oceans and Fisheries and the Korea Ocean Business Corp. said they will roll out a liquidity support package, including a new unsecured credit guarantee, to ease financial strain on South Korean shipping companies as the war in the Middle East drags on. Since the outbreak of the war, 26 South Korean vessels have been waiting after being blocked from transiting the Strait of Hormuz. The ships have faced higher costs from insurance surcharges, fuel expenses and increased hazard pay for crews. Business conditions have also worsened, with some cargo owners abandoning shipments despite rising freight rates, raising concerns about a cash crunch for carriers. In response, the ministry and KOBC will newly provide unsecured credit guarantees to South Korean carriers affected by the war. The program, launched with approval from the oceans minister to address an urgent economic and social crisis, allows carriers to raise short-term operating funds without providing collateral. Support is capped at 2.5 billion won per company, and the guarantee applies to short-term loans with maturities of up to one year, extendable up to five years. The agencies also revamped their emergency management stabilization funding to cut the time needed to provide support by up to three weeks. Instead of setting up a project entity to indirectly purchase corporate bonds, KOBC will buy the bonds directly. The change is also expected to reduce costs such as various fees. Under the revised stabilization funding, support is capped at 3 billion won per carrier, with a one-year maturity that can be extended once for one additional year. Carriers can also seek the existing stabilization funding program, which provides up to 100 billion won per company, if needed. The package also extends repayment periods for principal and interest on existing financial products nearing maturity and temporarily raises the loan-to-value ratio for ship-mortgage loans to 70% to 90% from 60% to 80%. Officials said this should help carriers secure additional liquidity using their vessel assets. KOBC said it began posting detailed guidance on its website and accepting applications for the unsecured credit guarantee and other support measures starting Tuesday. The ministry said it secured 1.4 billion won in the first 2026 supplementary budget to help cover insurance surcharges for small and midsize carriers operating in the Strait of Hormuz, with applications to be accepted through KOBC starting in early May. Oceans Minister Hwang Jong-woo said, "The government will provide comprehensive support so our shipping companies struggling due to the Middle East war do not face funding difficulties," adding it will do its best to keep export-import logistics networks running and prevent disruption to the national economy. KOBC President Ahn Byung-gil said uncertainty in the shipping industry has surged due to the war and that the program will help ease temporary liquidity strains and bolster stability across the sector.* This article has been translated by AI. 2026-04-28 17:29:35

Cho Eung-cheon Enters Gyeonggi Governor’s Race, Setting Up Three-Way Contest Reform Party politician Cho Eung-cheon declared his candidacy for Gyeonggi governor on April 28, a move expected to turn the race into a three-way contest with the Democratic Party and the People Power Party. With Rep. Choo Mi-ae confirmed as the Democratic Party’s candidate, a possible conservative alliance between the People Power Party and the Reform Party has emerged as a key variable. At a news conference at the National Assembly, Cho urged voters to “put down the wrong answer sheets of bad candidates and strange candidates” and choose “the good candidate, Cho Eung-cheon,” to lead the province. He accused both major parties of “bullying politics” that treats Gyeonggi as a stepping stone for political ambition, saying the two parties had “taken away” residents’ choices. Cho criticized the Democratic Party, saying it viewed Gyeonggi residents as “fish already caught.” Taking aim at Choo, he said the party’s nomination reflected arrogance — as if it could “win even by putting up a stick” — and questioned why it would field someone he said had no ties to Gyeonggi and had focused on political fights in Seoul’s National Assembly. He also faulted the People Power Party, saying it still had no candidate because no senior figure had stepped forward and even an additional recruitment effort failed to find a competitive contender. Cho pointed to the election of Rep. Lee Jun-seok in Hwaseong’s Dongtan area in the last general election, saying residents there showed that voters will choose a better option when one is available. “Now is the time to make the Dongtan miracle happen across all of Gyeonggi,” he said. The Reform Party said it aims to serve as an alternative force by challenging what it called the entrenched politics of the two major parties. Party leader Lee accompanied Cho at the news conference and said the People Power Party “no longer has the strength or ability” to stand up to the Democratic Party. He said the Reform Party has a clear purpose and that Cho decided to run because he was convinced about ending two-party politics. Cho, however, left open the possibility of a unified conservative candidacy with the People Power Party. “We have no reason to unify,” he said, adding that if the People Power Party makes a proposal, “we will listen.” The People Power Party is holding its primary for the Gyeonggi governor’s race. Supreme Council member Yang Hyang-ja, former MBC announcer Lee Seong-bae and former Korea Expressway Corp. president Ham Jin-gyu are running, with the party set to confirm its final candidate on May 2. Any talks on a conservative alliance are expected to intensify after that selection.* This article has been translated by AI. 2026-04-28 17:28:33