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

Democratic Party urges People Power Party to join vote on constitutional amendment The Democratic Party on May 7 again urged the People Power Party, which is maintaining a party line opposing a proposed constitutional amendment, to cooperate by taking part in a floor vote. The party also said that if a vote cannot be held at the plenary session because the People Power Party does not attend, it will move to convene another session soon and try again. The Democratic Party made the request at a policy coordination meeting held at the National Assembly on Thursday morning. Floor leader Han Byung-do said, “The only party opposing a constitutional amendment that has built social consensus and is supported by a majority of the public is the People Power Party.” He warned that, as President Lee Jae-myung has said, those who oppose the amendment could be seen as “defenders of an illegal martial law.” Addressing People Power Party lawmakers, Han said, “If you have even a shred of conscience and conviction, I hope you will participate in the vote.” He added that if the party “evades the historic responsibility of constitutional reform,” it will face “the people’s judgment.” Cheon Jun-ho, senior deputy floor leader for parliamentary operations, said a vote is scheduled on an amendment aimed at enshrining the spirit of the May 18 movement in the Constitution. “The National Assembly should not be ashamed before the fallen and the bereaved,” he said, urging the People Power Party to enter the chamber and vote. Cheon added that lawmakers should not “take away the public’s chance to choose the amendment directly,” and said that if they do, they cannot avoid criticism, as Lee has said, of being “defenders of an illegal martial law.” He urged them not to “commit another wrongdoing in history.” After the meeting, Kim Han-kyu, senior deputy floor leader for policy, told reporters that because a constitutional amendment requires approval by two-thirds of lawmakers, it cannot pass without attendance. He said that if the vote is not established, National Assembly Speaker Woo Won-shik, who has the authority to convene and place items on the agenda, will set another plenary schedule. Senior spokesperson Kang Jun-hyeon also said that if the People Power Party does not come to Thursday’s plenary session, the vote cannot proceed. He said he understands the floor leadership is pushing to hold another plenary session as early as Friday if the measure is rejected.* This article has been translated by AI. 2026-05-07 10:51:16

HLB Group to Hold 2026 HLB Forum to Review Drug Pipeline, Strategy HLB Group said Wednesday it will hold the “2026 HLB Forum” for two days starting May 12 at Sofitel Ambassador Seoul, under the theme “DNA of Success, Continuous Innovation; Unstoppable Challenge.” Now in its fourth year, the forum will bring together the group’s biotech affiliates along with pharmaceutical, biotech and investment experts from South Korea and abroad. The event will review global industry trends and assess progress and next steps for key pipelines, the company said. HLB said it will share updates on new modality development alongside broader global biotech trends. A main focus will be development and commercialization strategy for next-generation oncology programs following its liver cancer and bile duct cancer drug candidates that are in the approval stage. Affiliates will also present pipeline progress and follow-up plans, with discussions aimed at refining specific approaches. The forum will also cover major industry issues including the regulatory environment, disease-specific development strategies, artificial intelligence-based drug development, investment trends and examples of entering the U.S. market. HLB said it plans to use the forum to strengthen cooperation among affiliates and speed commercialization of its pipeline. The group recently hired global pharmaceutical and biotech business development expert Yang Eun-young as president to bolster global commercialization capabilities across its affiliates, it said. “This forum is an opportunity to make our future strategy more concrete based on the drug development experience and global network the group has built,” Nam Gyeong-suk, managing director in HLB Group’s Bio Strategy Planning Team, said in a statement. “We will continue strengthening our R&D and commercialization capabilities so each affiliate’s pipeline can translate into meaningful results in the global market.”* This article has been translated by AI. 2026-05-07 10:49:01

CJ CheilJedang to Showcase Korean Traditional Spirits at PGA Tour CJ Cup Byron Nelson CJ CheilJedang is using the PGA Tour’s CJ Cup Byron Nelson to promote Korean traditional spirits in the United States. The company said May 7 it will serve cocktails made with Munbaeju and Gamuchi soju at this year’s tournament, aiming to introduce players and spectators to the aroma and flavor of Korean traditional liquor and build a foothold for expansion in global markets. CJ CheilJedang also offered four Munbaeju-based cocktails at last year’s event. Munbaeju is a distilled spirit made from grains such as millet and sorghum, known for a wild pear-like aroma even without additives. Lee Seung-yong, head of Munbaeju Brewery, said, “It is meaningful to be able to introduce Munbaeju to local U.S. and global consumers again this year,” adding that he expects a positive impact on future sales. The company is also preparing a traditional-liquor business to globalize “K-liquor.” In November last year, it partnered with small Korean distilleries and applied for a trademark for a premium distilled-spirit brand, jari. The name refers to a place where people gather and reflects an aim for Korean traditional liquor to “take its place” in consumers’ minds worldwide. CJ CheilJedang has signed contracts with Munbaeju Brewery and Danong Bio, which produce Munbaeju and Gamuchi soju, and is aging each base spirit at a maturation facility in Nonsan, South Chungcheong province. Targeting the U.S. market, where consumers are familiar with K-food and value food-and-drink pairings, CJ CheilJedang plans to launch related products in the second half of this year. A company official said it will work to modernize the traditional-liquor industry and promote shared growth so Korean-style distilled spirits can become a leading Asian category alongside Japanese sake and Chinese baijiu. CJ CheilJedang has recently stepped up K-food promotion through sports events. In February, it operated a “bibigo zone” in Milan, Italy, where the 2026 Milan-Cortina d’Ampezzo Winter Olympics were held, serving items including dumplings, chicken and tteokbokki. * This article has been translated by AI. 2026-05-07 10:48:05

Korea weighs Louisiana LNG project for $200 bln US investment package SEOUL, May 07 (AJP) - South Korea has begun reviewing a liquefied natural gas export terminal project in Louisiana as a potential first project under its $200 billion strategic investment package with the U.S., officials and industry sources said Thursday. The Ministry of Trade, Industry and Energy recently selected a consortium of Samil PwC and Kim & Chang to advise on the Louisiana LNG project, part of the Korea-U.S. strategic investment package agreed last year. Industry watchers say the Louisiana LNG project reflects Washington’s broader push to increase LNG exports, particularly as demand for non-Russian energy has grown in Europe following the war in Ukraine and Asian demand for alternative supplies has risen amid instability around the Strait of Hormuz. The project involves building export infrastructure to liquefy and ship natural gas produced along the U.S. Gulf Coast to markets in Europe and Asia. For South Korea, however, the key issue will be whether the investment can generate tangible benefits for Korean companies, rather than simply meeting U.S. demands. Seoul is expected to seek conditions that allow Korean firms to participate in construction, supply steel and equipment, and secure stable access to U.S. LNG. The move comes as Industry Minister Kim Jung-kwan departed for North America on Tuesday for a four-day trip focused on advancing investment talks with the U.S. and strengthening industrial cooperation with Canada. Kim arrived in Washington on Thursday after visiting Ottawa, where he sought Canadian support for Korean companies bidding for the country’s submarine procurement project. He said the U.S. Trade Representative’s ongoing Section 301 investigation into countries including South Korea and Japan appeared to be aimed at restoring the 15 percent reciprocal tariff that had been ruled unlawful. “I understand the purpose of the investigation is to restore the 15 percent tariff,” Kim said. “Any U.S. measures following the investigation are likely to remain within that scope, and we will make every effort to ensure that they do.” Kim also pushed back against concerns that South Korea was moving slower than Japan in implementing its U.S. investment package. “Specific projects cannot be realized simply by announcing them. They need to be carried out in concrete terms,” he said. Kim said details could be discussed only after the special act on U.S. investment takes effect in June. The special act on the management of Korea-U.S. strategic investment was passed by the National Assembly on March 12 and is scheduled to take effect on June 18. Asked about the Louisiana LNG project, Kim stopped short of confirming it as the first investment. “It is true that the Louisiana project was among the projects being reviewed,” Kim said. “But we are not yet at a stage where we can say whether it will become the first project.” 2026-05-07 10:45:10