Court Limits Parts of Samsung Biologics Strike; Union Says Walkout Still Set for Next Month A South Korean court has partially blocked a planned full-scale strike by the Samsung Biologics union, limiting walkouts only in certain final-stage processes tied to preventing drug spoilage. The union said it still plans to begin a strike next month. According to the legal community on April 23, the Incheon District Court’s Civil Division 21, led by Presiding Judge Yoo Aram, partially granted Samsung Biologics’ request for an injunction against the Samsung Biologics Sangsaeng branch of the Samsung Group Super-Enterprise Labor Union. In its decision, the court said the union must not instruct workers to halt, or distribute guidelines to halt, parts of “work to prevent deterioration or decay of thawed cell lines” during the labor action. It also said the union must not obstruct employees from performing that work “by using force or by threatening harm.” The court specified the restricted tasks as concentration and buffer exchange, filling of bulk drug substance, and buffer production and supply. The panel described them as “final-stage work that adjusts already-produced material into a form suitable for maintenance and storage,” and said failure to carry them out on time would make it highly likely products would have to be discarded. The Samsung Biologics union said it will proceed with its planned strike starting May 1, because walkouts in early production processes such as cell culture were effectively allowed. Samsung Biologics said it “immediately filed an appeal” over the parts not granted. However, because an injunction generally remains in effect even after an appeal is filed, the strike is still widely expected to go ahead as planned. Labor and management have held 13 rounds of talks through last month since their first meeting in December, but have not reached an agreement. The union is seeking an average 14% wage increase, a 30 million won incentive per person, a bonus distribution equal to 20% of operating profit, and an allocation of company shares over three years. It has also proposed requiring the union’s prior consent when the company exercises key management and personnel authority. Management has maintained a wage increase rate of 6.2%, among other terms. If no deal is reached, Samsung Biologics would face its first strike since the company was founded in 2011. Industry observers say a strike could lead to major losses from production disruptions. If production schedules are affected starting next month, they say penalties for contract violations with global clients and damage to trust would be difficult to avoid.* This article has been translated by AI. 2026-04-23 20:24:20

Iran Reports First Strait of Hormuz Transit Fee Deposit to Central Bank Local media reported on April 23 (local time) that a transit fee for passage through the Strait of Hormuz has been deposited with Iran’s central bank for the first time. Yonhap News Agency and local outlets cited Hamid Reza Haji Babaei, a deputy speaker of Iran’s parliament, as making the statement. No details were released on the amount or the timing of the deposit. Iran’s military sealed off the strait by force on Feb. 28, shortly after attacks by the United States and Israel, in what it described as a response. Since then, it has allowed only limited passage for some vessels not linked to what it called enemy states — the United States and Israel. Iran has not officially announced the fee, but reports have said it was provisionally set at $1 per barrel for oil tankers. Estimates have put the charge for very large crude carriers at $2 million (about 3 billion won). Iran’s parliament on April 21 passed a bill affirming Iran’s control over the Strait of Hormuz and authorizing the collection of transit fees. Under the bill, ships seeking to pass must submit documents to Iranian authorities for approval, and fees must be paid in Iranian rials.* This article has been translated by AI. 2026-04-23 19:51:17

People Power Party Leadership Reconsiders Seoul Jung-gu Mayor Nomination; Seoul Chapter Vows Reapproval The People Power Party's central leadership said April 23 it did not approve the Seoul chapter's nomination of incumbent Jung-gu Mayor Kim Gil-seong as the party's candidate for the June 3 local elections. The Seoul chapter, led by Rep. Bae Hyun-jin, said it would finalize the nomination through a revote.  Choi Bo-yoon, the party's senior spokesperson, told reporters after a meeting of the party's top leadership that Kim's nomination was not approved and had been sent back to the Seoul chapter.  Choi said a party-affiliation check from Kim's preliminary candidacy for the 8th local elections showed he appeared to have been registered with two or more parties, which could violate the Political Parties Act and the Public Official Election Act. Choi also cited concerns that Kim's explanation during an interview differed from the facts.  Bae criticized the move in a Facebook post, saying candidates submitted by the 17 city and provincial chapters can still be approved through a chapter revote even if the top leadership rejects them. "Are they now trying to intimidate candidates?" she wrote.  In a statement, the Seoul chapter said Kim confirmed when he first ran for office in 2022 that his Democratic Party membership from 2003 was still on record, and he immediately terminated it. The chapter said Kim was nominated as the People Power Party candidate for Jung-gu mayor and won in 2022, and it plans to confirm his recommendation through a revote of its nomination committee on April 24.  The party's central nomination committee later issued its own explanation, repeating that Kim appeared to have been registered with two or more parties based on the preliminary-candidate affiliation check for the 8th local elections. It also said Kim omitted past party affiliation and entered false information during the application process, and that his interview explanation differed from the facts, warranting a review of the nomination. * This article has been translated by AI. 2026-04-23 19:36:18

South Korea Freezes Fuel Price Caps for Fourth Round, Citing Inflation Risks The South Korean government has again frozen the maximum prices applied to petroleum products supplied to gas stations, citing lingering uncertainty from the prolonged war in the Middle East and concerns that any increase could add to inflation. The Ministry of Trade, Industry and Energy said Thursday that starting at midnight April 24, the fourth round of the price-cap system will apply for the next two weeks at the same levels as the second and third rounds: 1,934 won per liter for regular gasoline, 1,923 won for diesel and 1,530 won for kerosene. The ministry said international refined-product prices have fallen over the past two weeks, easing cost pressures, but the regional situation remains unstable and additional shocks cannot be ruled out. The ministry said that if only the recent two-week change in international prices were reflected in the formula, the fourth-round caps could have been lower than the third round by about 100 won per liter for gasoline and about 200 won for diesel. Instead, the government said it has already restrained price increases by not fully reflecting earlier international price gains in the cap, and decided to hold the levels steady after weighing Middle East uncertainty and the need to manage fuel consumption. Raising the caps was also seen as too risky for inflation. Nam Kyung-mo, policy adviser to the industry minister, said petroleum products account for 4.66% of the consumer price index and higher prices could feed broader inflation. He cited March producer prices rising at the fastest pace in more than four years due to high oil prices. The government said pump prices would be higher without the cap, estimating gasoline would be around 2,200 won per liter, diesel 2,700 to 2,800 won, and kerosene around 2,500 won. Compared with the current caps, that implies a restraining effect of about 260 won for gasoline, up to 870 won for diesel and about 970 won for kerosene. Nam said domestic pump prices are still edging up because increases in refiners’ supply prices are being reflected with a lag. He said refiners’ supply prices rose by 210 won per liter when the second-round cap was adjusted, and gas stations have been passing that on gradually. On settlement under the cap, the government reaffirmed it will reimburse refiners for losses under Article 23(3) of the Petroleum Business Act. Nam said the government has not yet produced its own estimate of losses. He said refiners will calculate losses from March 13 through the end of June, submit figures after review by an accounting firm, and the government will confirm the final reimbursement through a price-cap settlement committee. Asked about Prime Minister Kim Min-seok’s comments the previous day that the government would carefully review whether to implement a fourth round, Nam said it is not yet time to consider ending the system. He said the Middle East situation remains unstable and high oil prices persist, adding that a broader review could be possible if international prices stabilize, including through progress toward a ceasefire between the United States and Iran and the easing of disruptions tied to the Strait of Hormuz. On whether a fifth adjustment will be made, Nam said the government will operate the system flexibly after considering international oil prices, the public burden, efforts to reduce consumption, support for energy-vulnerable groups and overall inflation. * This article has been translated by AI. 2026-04-23 19:03:19

Seoul Mayor Oh Se-hoon to Register as Preliminary Candidate April 27, Opens Jongno Campaign Office Seoul Mayor Oh Se-hoon, the People Power Party’s candidate in the Seoul mayoral race, will register as a preliminary candidate on April 27 and move into full campaign mode for the June 3 nationwide local elections, his camp said. Oh’s side said the earlier-than-expected registration reflects his determination to “get into the community and run the ground campaign.” His campaign office will be set up in the Daewang Building in Gwancheol-dong, Jongno-gu, central Seoul. Oh’s camp said Jongno “symbolizes the urgency of old downtown redevelopment,” adding that the location is meant to show his commitment to “first principles,” balanced urban development and revitalizing older districts, including Jongno. Oh, seeking a third consecutive term and a fifth term overall, plans to stress Seoul residents’ health and quality of life in the campaign, while drawing contrasts with Jung Won-oh, the Democratic Party’s Seoul mayoral candidate. He also plans to put added focus on youth policies, with young people participating in and leading the campaign. Oh’s camp said the eighth popularly elected city administration has focused on “walking with the vulnerable” and strengthening the city’s competitiveness, and that the campaign will emphasize a “special city of better health and a warmer quality of life.” It added that the campaign team will be run with a focus on youth policy. 2026-04-23 18:57:16

South Korea’s parliament passes 103 bills, including tenant fraud relief and expanded infertility leave South Korea’s National Assembly on the 23rd passed a package of measures to strengthen protections for victims of rental fraud, including a legal basis to support tenants whose recovered deposits fall short of a minimum guaranteed amount. Lawmakers approved revisions to the Act on Support for Victims of Rental Fraud and Housing Stability by unanimous consent of the 182 members present. Under the changes, if the amount a tenant recovers by exercising opposability rights or priority repayment rights does not reach the minimum guaranteed level, the shortfall can be supported. The Assembly passed a total of 103 noncontroversial bills at the plenary session. Among them was the bill on the establishment and operation of a National Graduate Medical School, creating a legal basis to set up a national institution to train personnel for public health and medical services. The bill requires graduates to serve in the public medical sector for 15 years after obtaining a medical license. Ruling and opposition parties also revised the Equal Employment Opportunity and Work-Family Balance Assistance Act and the Employment Insurance Act to expand paid leave for infertility treatment to four days from the current two. To prevent consumers from being misled by unfair advertising using artificial intelligence, lawmakers revised the Cosmetics Act, the Act on Labeling and Advertising of Foods, and the Pharmaceutical Affairs Act. The plenary session also passed revisions to the Act on the Protection and Support of Small Business Owners to provide a basis for supporting closed small businesses, including management, legal and tax consulting. Another bill established a comprehensive management framework to foster the used-battery industry. Other measures approved included revisions to the Narcotics Control Act to allow undercover or identity-concealed investigations into drug crimes; revisions to the law on exercising sovereign rights over foreign fishing in the exclusive economic zone to sharply raise fines for foreign vessels caught fishing illegally; and a bill on guaranteeing the rights of people with disabilities that spells out dignity and equality rights. Lawmakers also passed revisions to the special act on establishing Sejong Special Self-Governing City, raising the share of proportional-representation seats in the city council to 14% from 10% relative to district seats. The Assembly also completed the lineup for the third Truth and Reconciliation Commission, which investigates past incidents. Lee Ho-jung, a professor at Sogang University Law School recommended by the Democratic Party, and Jang Young-soo, an emeritus professor at Korea University Law School recommended by the People Power Party, were appointed as standing commissioners. Nonstanding commissioners recommended by the Democratic Party were attorney Kim Young-joo of Law Firm Jihyang, activist Kim Jeong-ha of Disability and Human Rights Action Balbadak, and Jeong Won-ok, head of the Cultural and Social Research Institute. Those recommended by the People Power Party were attorney Kim Ung-gi of Sein Partners, Lee Dong-wook, a former member of the May 18 Democratization Movement Fact-Finding Commission, and attorney Choi Chang-ho of Jeongron. The Assembly also approved Lee Hyun-joo, head of the Park Jong-chul Center, recommended by National Assembly Speaker Woo Won-shik, and Park Rae-gun, a director at the Human Rights Foundation Saram, recommended by the Basic Income Party representing non-negotiating parties. Including the 10 members elected on the 23rd, the commission will have 13 members: Chair Song Sang-gyo, standing commissioner Kim Gwi-ok and nonstanding commissioner Park Gu-byeong, all designated by President Lee Jae-myung, along with the newly selected members.* This article has been translated by AI. 2026-04-23 18:55:13

Pension Lottery 720+ Draw 312 Numbers Draw Attention as Past Winner Shares Story "We married later in life and have a daughter born in 2019, and I think she has brought us good luck." With attention focused on the Pension Lottery 720+ Draw 312 winning numbers on the 23rd, a personal account from a Draw 294 winner has resurfaced online. The winner said they held one first-prize ticket and four second-prize tickets in Draw 294. In a post on Donghaeng Lottery’s winners’ bulletin board, the winner said they bought the Draw 294 ticket after feeling disappointed in the previous draw, when a similar number came up but they won only a seventh prize. The winner said they later checked the results at home using a QR code and first realized they had won second prize. "I was happy and grateful just for that," the winner wrote. Then, remembering that set purchases can result in simultaneous wins, they checked the remaining tickets and discovered they had won both first and second prizes. The winner said they shared the news with their spouse, and the couple comforted each other by saying, "You worked hard," adding they felt they could live more happily going forward. The winner also wrote that they married later in life and have a daughter born in 2019, saying they believe the child has brought them good fortune. The ticket was purchased at a lottery retailer in Yangpyeong-eup, Yangpyeong County, Gyeonggi Province. Asked what they usually buy, the winner said they purchase small amounts of Lotto and Pension Lottery tickets. For the winnings, the winner said they plan to repay loans and set aside money for their child and for retirement. The Pension Lottery 720+ Draw 312 winning numbers will be available after 7:05 p.m. today (23rd).* This article has been translated by AI. 2026-04-23 18:51:57

South Korea watchdog begins inspections of brokerage hub branches, starting with Hana Securities South Korea’s Financial Supervisory Service has begun on-site inspections of securities firms’ hub branches, part of an inspection plan it has outlined in its work program. According to financial authorities on the 23rd, the FSS is conducting an on-site inspection of Hana Securities. The scope covers sales processes at hub branches and other outlets, as well as the head office’s overall internal control system. The FSS previously said it would expand inspections after checking hub branches at Samsung Securities and Meritz Securities last year. At this year’s briefing on supervision of the investment sector, it said it would move quickly with additional inspections if it finds illegal or improper conduct, or weaknesses in internal controls, during branch reviews. Internal controls at branches and possible mis-selling of high-risk investment products are expected to be key areas of focus. Industry changes in branch networks are also cited as a backdrop. While the number of branches has fallen, assets have increasingly been concentrated in a smaller number of hub locations, and concerns about internal controls during that shift have persisted. The FSS plans to soon begin an unscheduled inspection of Korea Investment & Securities branches as well. A Hana Securities official said the FSS had launched an on-site inspection and that the firm understands other brokerages will be reviewed in sequence. * This article has been translated by AI. 2026-04-23 18:51:21

Korea SMEs and Startups Agency Earns Top Rating in 2025 Public-Sector Customer Survey The Korea SMEs and Startups Agency said on the 23rd it received an “excellent” rating in the 2025 public-sector customer satisfaction survey. The survey, conducted under the Ministry of Finance and Economy, found the agency exceeded its targets across all 11 business areas evaluated. The agency said it created a dedicated customer-communication team to hear feedback directly from the field and has continued outreach aimed at addressing difficulties faced by small and midsize companies and small merchants. It also cited customer-service training for employees and benchmarking innovation cases from other institutions as part of efforts to embed a “customer first” culture. Lee Tae-sik, the agency’s president and CEO, said, “Earning an excellent customer satisfaction rating reflects the unified efforts of all employees to become a trusted partner for our core customers—small and midsize companies and small merchants.”* This article has been translated by AI. 2026-04-23 18:36:16

Japan Urges MBK to Halt Makino Machine Tool Deal, Citing National Security Private equity firm MBK Partners, which previously drew concerns in South Korea over potential leaks of national core technologies through overseas sales, has now been urged by the Japanese government to stop a planned acquisition on similar grounds. The move is expected to affect the outlook for the ongoing management control dispute at Korea Zinc involving MBK and Young Poong. According to the Nikkei newspaper on the 23rd, the Japanese government issued a recommendation to halt MBK’s plan to acquire Japanese machine tool maker Makino Milling Machine Co., citing the Foreign Exchange and Foreign Trade Act. Machine tools are considered dual-use goods that can be used for both civilian and military purposes and are designated a “core sector” under the law. Foreign investors must undergo prior government screening before acquiring shares. Japan said Makino’s machine tools are sensitive items with high potential military use and are widely used across defense equipment, including missiles and submarines, as reasons for the recommendation. A company receiving such a recommendation must decide within 10 days whether to accept it; if it refuses, the government can issue a stop order. Chief Cabinet Secretary Minoru Kihara said at a regular briefing that “it is true that a recommendation to halt the investment was issued as of the 22nd,” adding that it reflected the review panel’s judgment that there was a risk of developments that could harm national security. Japan’s sensitivity to technology leakage is often linked to the “Toshiba Machine COCOM violation” case from 40 years ago, in which a Japanese company illegally exported high-performance machine tools to the former Soviet Union, contributing to improvements in Soviet submarine technology. The decision also aligns with a broader global tightening of rules around strategic industries and materials, including defense, rare earths, critical minerals and mining. Major countries such as the United States and China have strengthened efforts to limit foreign influence in key technologies and strategic sectors on economic security grounds. The fact that MBK’s fund includes capital from China and the Middle East likely weighed on Japan’s assessment. Concerns over MBK’s overseas sales of core technologies have surfaced in South Korea before. In 2019, MBK pursued a sale of Doosan Machine Tools to China, but the deal was reported to have collapsed after opposition from the South Korean government over fears of leaking national core technologies, including design and manufacturing know-how for high-precision five-axis machining centers. Subsequent overseas sale attempts also failed, and the company was ultimately sold in 2021 to South Korean firm DTR Automotive. With Japan now also moving to block MBK’s acquisitions and sales, related controversy is expected to intensify in the Korea Zinc control fight. Korea Zinc is described as the country’s only company producing critical minerals based on national core technologies and advanced strategic technologies, and analysts say the identity of any acquirer could significantly affect supply-chain stability and key national industries. As the importance of Korea-U.S. supply-chain cooperation has grown following plans to build a smelter in Tennessee, U.S. political circles, as well as those in South Korea, are closely watching MBK’s bid to secure management control of Korea Zinc.* This article has been translated by AI. 2026-04-23 18:27:23