Trump Floats ‘Project Freedom’ to Move Ships Stuck in Strait of Hormuz, Easing Korea Oil Supply Fears 도널드 트럼프 미국 대통령이 호르무즈 해협에 발이 묶여 있는 제3국 선박을 안전하게 이동시키는 '해방 프로젝트(Project Freedom)' 추진을 시사했다. 계획이 예정대로 시행되면 한국의 원유 수급에도 도움이 될 수 있다. 다만 이란의 반발이 즉각 나오면서 불확실성은 여전하다는 지적도 나온다. 4일 관계 부처에 따르면 트럼프 대통령은 3일(현지시간) 트루스소셜에 "전 세계 여러 나라에서 호르무즈 해협에 갇힌 자국 선박들을 풀어줄 수 있는지 문의해 왔다"며 "이들은 이 분쟁과 아무 관련이 없는 중립적이고 무고한 방관자일 뿐"이라고 적었다. 그는 "우리는 선박들이 안전하게 해협을 빠져나갈 수 있도록 지원해 자유롭고 원활하게 사업을 진행할 수 있도록 하겠다고 약속했다"며 "자유 프로젝트는 중동 시간으로 월요일 아침에 시작될 예정"이라고 밝혔다. 또 "이란과 매우 긍정적인 논의를 진행하고 있으며 이러한 논의가 모두에게 매우 긍정적인 결과를 가져올 수 있을 것"이라며 "어떤 식으로든 이 인도주의적 절차가 방해를 받는다면 유감스럽게도 강력한 조치를 취할 수밖에 없다"고 강조했다. 이 구상이 물류 불확실성을 낮출 수 있을지 주목된다. 현재 페르시아 만에 고립된 선박은 약 2,000척으로 추정된다. 산업통상부에 따르면 이 가운데 한국 정유사와 관련된 유조선은 7척이며, 이 중 4척은 국적 선사가 운항한다. 해당 선박에 실린 원유는 약 1,400만 배럴 수준이다. 정부는 5월 원유 수급에는 큰 문제가 없을 것으로 보고 있다. 다만 해방 프로젝트가 계획대로 추진되면 추가 물량 확보에 도움이 될 것으로 기대하고 있다. 산업통상부에 따르면 5월 대체 원유 확보 물량은 평시 도입 물량의 87% 수준인 7,462만 배럴이다. 호르무즈 해협에 계류 중인 원유가 한국에 도착하려면 약 3주가 걸리는 만큼, 단순 계산으로는 5~6월에 현재 계류 중인 유조선이 입항할 수 있다는 관측이 나온다. 정유업계의 중동산 원유 의존도가 높은 만큼 단기간 숨통이 트일 수 있다는 것이다. 다만 계획이 현실화될지는 미지수다. 이란에서는 해당 구상이 휴전협정 위반이라는 반발이 나왔다. AFP 통신에 따르면 에브라힘 아지지 이란 의회 국가안보·외교정책 위원장은 트럼프 대통령의 계획 공개 직후 X(옛 트위터)에 "호르무즈 해협의 새로운 해상 질서에 대한 미국의 어떠한 개입도 휴전 위반으로 간주될 것"이라고 경고했다. 지난달 초 중동전쟁 휴전 합의 이후 호르무즈 해협을 빠져나간 선박이 극소수에 그치고 있다는 점도 불확실성을 키운다. 군사적 충돌 가능성이 여전히 높아 선주 등이 신중한 태도를 보이고 있기 때문이다. 트럼프 대통령이 강경 발언과 협상 가능성을 동시에 내비치는 행보를 반복하는 점도 변수로 꼽힌다. 정부는 신중한 입장이다. 산업부 관계자는 "5월 원유 수급에는 문제가 없는 상황"이라며 "해방 프로젝트로 7척의 초대형 원유 운반선(VLCC)이 빠져나오면 수급에 도움이 되겠지만 실제로 프로젝트가 이행될지 지켜봐야 할 것"이라고 말했다.* This article has been translated by AI. 2026-05-04 12:09:17

South Korea Tax Agency Alerts 220,000 to File Capital Gains Tax Returns by June 1 Taxpayers who traded real estate, stocks or other assets must file their final capital gains tax return by June 1, South Korea’s National Tax Service said. The agency has sent filing notices to about 220,000 people and is expanding support for simplified online filing through Hometax. The NTS said it began sending mobile notices on the 4th to about 220,000 taxpayers required to file final capital gains tax returns for 2025 income. Those include people who sold real estate, stocks or other assets last year but did not file a preliminary return; those who made two or more transactions but did not file a combined return; and traders of overseas stocks and derivatives. Returns are due by June 1 and can be filed electronically via Hometax (PC) or Sontax (mobile), or by visiting a tax office or filing by mail. Payments can be made by bank transfer, credit card or simple payment services, and taxpayers owing more than 10 million won may pay in installments. To make filing easier, the NTS said it strengthened Hometax assistance tools, including a “pre-fill” function that automatically loads preliminary filing data and a “tax rate selection helper” that applies rates based on entered information and provides step-by-step guidance. The agency also provides electronic filing guides, videos, sample filings and common error examples. Supporting documents can be submitted by photographing them with a smartphone or sending them through a virtual fax service. The NTS said it continues to find a range of tax evasion cases amid recent changes in the real estate market. Common methods include using false contract prices, inflating deductible expenses, improperly applying tax exemptions and conducting low-price transactions between related parties. The agency said it has uncovered cases such as reporting a lower-than-actual price when reselling subscription rights for new apartments, exaggerating interior renovation costs to reduce capital gains, and claiming the one-household, one-home exemption despite effectively owning two homes. An NTS official said the agency will work with related institutions, including the Real Estate Market Monitoring Task Force, to closely analyze real transaction data and money flows, and will “track down transactions with suspected evasion to the end and collect unpaid taxes without exception.” The official added that the NTS will “thoroughly verify” cases involving intentional misreporting or irregular transactions through intensive tax audits. * This article has been translated by AI. 2026-05-04 12:04:53

March Online Shopping in Korea Hits Record 25.6 Trillion Won, Led by Travel and Autos March online shopping transactions topped 25 trillion won, the highest monthly total since the statistics series began. The National Data Agency said Monday in its “March 2026 Online Shopping Trends” report that online shopping transactions totaled 25.577 trillion won, up 13.3% from a year earlier. It was the largest monthly figure since tracking began in 2017. Growth was driven by travel and transportation services, automobiles, and communications devices. Auto and auto-related products surged 109.9% from a year earlier, communications devices jumped 107.5%, and travel and transportation services rose 21.7%. By category, food services accounted for the largest share of online shopping transactions at 14.2%, followed by food and beverages at 13.3% and travel and transportation services at 13.0%. Mobile shopping transactions increased 11.6% to 19.4088 trillion won. Mobile purchases made up 75.9% of total online shopping, down 1.1 percentage points from a year earlier. In mobile shopping, food services led with an 18.5% share, followed by food and beverages at 14.3% and travel and transportation services at 11.6%. By product range, transactions at general online malls rose 6.7% to 13.472 trillion won, while specialized malls climbed 21.7% to 12.105 trillion won. By operating type, online-only malls posted 19.2494 trillion won in transactions, up 9.6%, while retailers running both online and offline channels recorded 6.3276 trillion won, up 26.5%. In the first quarter, direct overseas sales totaled 1.0599 trillion won, up 24.4%, while direct overseas purchases rose 1.2% to 1.9789 trillion won. The agency attributed the gap to a higher won-dollar exchange rate raising the burden of buying foreign products, while improving the price competitiveness of South Korean companies and boosting overseas sales. 2026-05-04 12:04:05

Democratic Party Slams People Power Nominations as ‘Yoon Again’ Push Ahead of June 3 Local Elections The Democratic Party of Korea on May 4 stepped up its criticism of the People Power Party’s nominations for the June 3 local elections, with party leader Jung Cheong-rae calling them, in his words, a declaration of a return to a “Yoon Again party.” Speaking at an on-site Supreme Council meeting in Busan, Jung said the lineup of nominees was “shocking,” and asked whether the party was nominating “remnants” or the “main body” of an insurrection, and whether it was trying to “stage another insurrection” by nominating “insurrection collaborators.” He said he was angry that such figures were returning to the center of power “without remorse,” and demanded the party immediately withdraw the nominations of “insurrection collaborators.” On the possibility that the People Power Party could nominate Jeong Jin-seok, described in the article as a former presidential chief of staff, Jung pointed to comments by South Chungcheong Gov. Kim Tae-heum, saying Kim appeared to be signaling a decision to split from the party. Jung asked whether the party would press ahead with Jeong’s nomination. Kim said on May 2 that if Jeong’s nomination became reality, he would accept even leaving the party and running as an independent. Supreme Council member Hwang Myung-sun also criticized what he called “Yoon Again” nominations. He said the People Power Party was regrouping a “Yoon Suk Yeol-style Hanahoe” through its nominations for the June 3 local elections and by-elections, and said nominating Lee Jin-sook, Lee Yong and Kim Tae-gyu amounted to “clear support for an insurrection.” He said putting forward people who “should be standing in court” as candidates was an insult to the public and to democracy. The meeting was also attended by Jeon Jae-soo, the party’s Busan mayoral candidate, and Ha Jung-woo, a candidate for the Buk-gu Gap parliamentary seat in Busan, who pledged to win their races. Jeon, speaking about relocating HMM’s headquarters to Busan, said the move would not be the end, adding that more shipping, logistics, finance, legal, service and future-industry companies would move to the city. “From now on is the real start,” he said, adding that if the HMM move opened the way, the flow should spread across Busan’s economy. Ha said he would make Busan’s Buk-gu district the nation’s leading hub for AI education, and said he would be a strong growth engine for the district’s development.* This article has been translated by AI. 2026-05-04 11:57:19

Lee Jae-myung urges public input on timing, process for special counsel probe of alleged illegal prosecution President Lee Jae-myung said Monday that a national consensus has formed around the Democratic Party’s push for a special counsel to investigate what it calls politically motivated, fabricated indictments by prosecutors. Hong Ik-pyo, the presidential senior secretary for political affairs, told reporters in a briefing at the Chunchugwan press center that a parliamentary investigation had already revealed much of the alleged illegal conduct and improper investigations carried out under the Yoon Suk Yeol administration and what he described as political prosecutors. Hong said establishing the truth through a special counsel and restoring judicial justice is “something that must be done.” However, Hong said Lee asked the ruling Democratic Party to decide the specific timing and procedures only after gathering public opinion and going through a deliberative process. The Democratic Party on April 30 introduced the “Special Counsel Act on Fabricated Indictments Under the Yoon Suk Yeol Administration.” The bill would authorize a special counsel to investigate 12 cases, including Lee’s criminal cases, and grant the special counsel the power to withdraw indictments. 2026-05-04 11:54:15

Kim Keon Hee case heads to South Korea’s top court as both sides appeal The special counsel team led by Min Jung-gi has taken to the Supreme Court the case of Kim Keon Hee, who was sentenced on appeal to four years in prison over allegations including Deutsche Motors stock manipulation and receiving valuables tied to the Unification Church. Kim’s side had already filed an appeal, setting up a final round of arguments over guilt and sentencing. According to the legal community on Monday, the special counsel filed its notice of appeal with the Seoul High Court’s Criminal Division 15-2, which heard the second trial. Kim’s attorneys filed their appeal on April 30. On April 28, the appeals court sentenced Kim to four years in prison and fined her 50 million won on charges of violating the Capital Markets Act, violating the Political Funds Act and bribery for influence-peddling under the Act on the Aggravated Punishment of Specific Crimes. The court also ordered forfeiture of one seized Graff diamond necklace and imposed an additional 20.94 million won in collection. The prison term was increased by two years and four months from the first trial’s sentence of one year and eight months. A central issue on appeal was the Deutsche Motors stock-manipulation allegation, which the first court had found not guilty in full. The appeals court found Kim guilty in part, ruling that in October and November 2010 she provided Black Pearl Invest with a securities account holding 2 billion won and sold 180,000 shares of Deutsche Motors stock, acts the court said amounted to participation in price manipulation. The court said Kim had at least been aware that the account could be used for manipulation. The appeals court also broadened the scope of guilt on the Unification Church-related influence-peddling charge. It found Kim guilty of receiving, from April to July 2022, two Chanel bags, a Graff necklace and Cheonsusam concentrated tea along with requests to support church-related issues. Parts of that allegation had been found not guilty at the first trial. However, as in the first trial, the appeals court acquitted Kim of violating the Political Funds Act over allegations that she received free public-opinion polling worth 270 million won from Myeong Tae-gyun and used influence in the nomination of former People Power Party lawmaker Kim Young-sun. The court said it was difficult to conclude Kim and her husband gained a financial benefit equivalent to the polling costs because Myeong provided polls to multiple people, not only the couple. That acquittal is expected to be a key point in the special counsel’s appeal, with prosecutors likely to argue the appeals court misread facts and misapplied the law. Kim’s side is expected to challenge the guilty findings on the Deutsche Motors and Unification Church allegations. The appropriateness of the sentence is also likely to be contested. While the appeals court more than doubled the first-trial prison term, it fell short of the 15-year sentence the special counsel sought in closing arguments at both trials. The special counsel has also appealed other related rulings. It filed an appeal on April 30 in the case of Yoon Young-ho, a former Unification Church international headquarters chief, who was indicted over allegations including providing valuables while seeking favors tied to church issues involving Kim and People Power Party lawmaker Kwon Seong-dong. Yoon received a 1 1/2-year prison term on appeal on April 27, increased from one year and two months at the first trial. The special counsel also appealed on Monday in the case of Kim Ye-seong, described as a key figure in the so-called “butler gate” case, who was indicted on embezzlement charges. The appeals court found Kim not guilty and dismissed part of the prosecution, and the special counsel asked the Supreme Court to review that decision.* This article has been translated by AI. 2026-05-04 11:30:18

U.S. Catholic Churches Draw Gen Z as Mass Attendance and Baptisms Rise Catholic churches in the United States are drawing growing interest among young people, The Wall Street Journal reported May 3. The trend has been compared to the way Buddhism in South Korea has gained a “cool religion” image among younger generations in recent years. The Journal visited St. Joseph’s Church in Lower Manhattan, where the 6 p.m. Sunday Mass was packed. Some worshippers sat on balcony steps or leaned against walls through the 90-minute service. When it came time for Communion, the narrow aisles became difficult to navigate because of the crowd. Many of those attending had first gone to a nearby pizza shop for a gathering called “Pizza to Pew.” Young adults meet, eat pizza and talk, then walk together to church. The Journal said some come as far as Boston by train. For some, church has become part of a weekend routine and a place for spiritual community; some also attend in hopes of meeting a date. Citing the Barna Group, which studies religion in the United States, the Journal reported that Gen Z Christians attend church more than members of Generation X, millennials or baby boomers. Barna has tracked monthly attendance since 2020 and said that in 2025, young people went to church on weekends twice a month, the highest level in five years. The Journal also noted rising interest in religion among young men over the past three years. As of April last year, 42% of young men in the United States said religion is important, up 14 percentage points from 28% in a 2023 survey and higher than the share among women, it said. Some older Catholics who emphasize doctrine and tradition may have concerns. According to a Catholic newspaper, canon law says Catholics should abstain from food and drink for one hour before receiving Communion, except for water and medicine. It also says spiritual life and faith should come before social gatherings at church. Clergy, however, have encouraged the influx of young worshippers. In a recent homily, a priest said, “There is only one reason to attend Mass: the Lord’s love,” adding that he had heard people had other reasons as well. As laughter spread through the pews, he added that “the thrill of falling in love with a beautiful woman” could be strong, too. Videos of religious figures encouraging young churchgoers at pizza gatherings are also easy to find on TikTok. As Catholicism gains popularity among young people, the number of new members is rising. At St. Joseph’s in New York, 90 people were baptized and received First Communion this Easter. At nearby Old St. Patrick’s Cathedral, 70 were baptized. Both totals were double the previous year. The New York Times reported that 1,428 new members were baptized in the Archdiocese of Detroit this Easter, the highest figure in 21 years. Some have linked the rise to the inauguration of Leo XIV, the first pope from the United States, the paper said. Mitchell Thomas Rozanski, archbishop of St. Louis, said technology has isolated people and the COVID-19 pandemic deepened that isolation. “In an era full of uncertainty and anxiety, people are returning to faith to satisfy their thirst for the Lord,” he said. Cardinal Robert McElroy of the Archdiocese of Washington told CBS, “Unfortunately, we live in a world without moral leaders,” adding that this is drawing young people, especially young adults, to church. According to Pew Research Center, the United States has 53 million Catholics, and 8% are converts from other religions.* This article has been translated by AI. 2026-05-04 11:13:06

KOSPI Jumps More Than 3% as Foreign and Institutional Buying Lifts Seoul Stocks South Korean stocks surged in intraday trading Monday, led by semiconductor shares, with the benchmark KOSPI rising more than 3% and setting a fresh record high.  As of 11:02 a.m., the KOSPI was up 242.98 points, or 3.68%, at 6,841.85, according to the Korea Exchange. The index opened up 184.06 points, or 2.79%, at 6,782.93 and extended gains on foreign buying. In the main market, foreigners and institutions were net buyers of 2.3264 trillion won and 1.2675 trillion won, respectively, while individuals were net sellers of 3.4957 trillion won. Among top market-cap stocks, Samsung Electronics rose 3.63%, SK hynix gained 8.94% and SK Square jumped 12.72%. Hyundai Motor added 1.51%, LG Energy Solution rose 2.28%, Hanwha Aerospace gained 3.11% and HD Hyundai Heavy Industries advanced 1.75%. Doosan Enerbility slipped 0.31% and Samsung Biologics fell 0.34%. The tech-heavy KOSDAQ was up 24.57 points, or 2.06%, at 1,216.92 at the same time. It opened up 19.93 points, or 1.67%, at 1,212.28. In the KOSDAQ market, foreigners and institutions were net buyers of 602.7 billion won and 10.3 billion won, respectively, while individuals were net sellers of 605.9 billion won. Among leading KOSDAQ shares, EcoPro rose 2.22%, EcoPro BM gained 4.37%, Alteogen added 3.80%, Rainbow Robotics rose 3.46%, Kolon TissueGene gained 2.45% and HLB advanced 2.14%. Samchundang Pharm fell 2.41%, Lino Industrial slipped 1.34% and ABL Bio lost 0.59%.* This article has been translated by AI. 2026-05-04 11:12:06

Fed’s Kashkari Says Next Rate Move May Not Be a Cut The Middle East war and a resulting oil shock could alter the Federal Reserve’s interest-rate path, a Fed official warned. According to Reuters on May 4, Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said economic uncertainty has increased because of the war involving Iran, making it harder for the Fed to give clear signals about the direction of future rates. He said that if disruptions to crude oil supplies through the Strait of Hormuz persist, inflation pressures could intensify. In that case, he indicated, policymakers should factor in not only the possibility of rate cuts but also rate hikes. Kashkari also said the Federal Open Market Committee should revise its policy language. Bloomberg reported that he said the Fed needs to make clear to markets that the next rate move could be either a cut or a hike. He suggested that language that only leaves the door open to future cuts does not adequately reflect surging oil prices and inflation uncertainty. At its April meeting, the Fed held its benchmark rate at 3.50% to 3.75%, but its statement retained some wording that left open the possibility of future cuts. Kashkari, Cleveland Fed President Beth Hammack and Dallas Fed President Lorie Logan opposed that wording, underscoring renewed differences within the Fed over the path of rates.* This article has been translated by AI. 2026-05-04 11:06:16

KOSPI tops 6,800 on AI-driven chip rally amid easing Hormuz tensions SEOUL, May 04 (AJP) - South Korea’s benchmark KOSPI jumped more than 3 percent at the open on Monday to test a new plateau above 6,800 on strong institutional buying in chip and other large-cap stocks. Market sentiment was also influenced by geopolitical developments after U.S. President Donald Trump said the United States would begin safely escorting ships from “neutral and innocent” countries through the Strait of Hormuz under a new initiative referred to as “Project Freedom.” He described the move as a humanitarian effort but warned that the U.S. would respond strongly to any interference, while also noting ongoing positive discussions with Iran. As of 10:42 a.m., South Korea’s benchmark KOSPI rose 3.40 percent to 6,822.94. Shares of SK hynix and its largest shareholder SK Square surged in early trading, supported by improved investor sentiment driven by strong earnings from global Big Tech firms and growing investment in artificial intelligence infrastructure. The chipmaker was 8.7 percent higher at 1,399,000 won, hitting an intraday record high, while SK Square jumped 12.84 percent to 949,000 won. Among other heavyweights, tech shares led the gains, with Samsung Electronics rising 2.15 percent and its preferred shares up 2.84 percent, while Samsung Electro-Mechanics climbed 5.17 percent. Auto stocks were also strong, with Hyundai Motor and Kia gaining 1.88 percent and 2.83 percent, respectively. In the industrial and defense sector, Hanwha Aerospace rose 4.02 percent and HD Hyundai Heavy Industries added 1.17 percent, while Doosan Enerbility slipped 0.71 percent. Battery makers showed modest gains, with LG Energy Solution up 1.41 percent and Samsung SDI rising 1.29 percent. Biotech and financial stocks were mixed, as Samsung Biologics fell 0.61 percent and KB Financial Group declined 1.25 percent, while Samsung Life Insurance edged up 1.20 percent. On the junior KOSDAQ, most major stocks traded higher, with the index up 1.93 percent to 1,215.35, led by battery and materials names such as EcoPro and EcoPro BM, which gained 2.94 percent and 4.13 percent, respectively. Pharmaceutical and biotech stocks also advanced, including Alteogen, HLB, ABLBio and LigaChem Biosciences, which rose 2.44 percent, 2.14 percent, 0.07 percent and 0.87 percent, respectively, alongside Peptron, up 3.07 percent. Industrial and equipment-related shares also moved higher, with Rainbow Robotics gaining 3.77 percent, LEENO Industrial up 0.25 percent, Kolon TissueGene climbing 4.12 percent, Jusung Engineering edging up 0.24 percent and Wonik IPS rising 1.37 percent. Only Samchundang Pharm bucked the trend, slipping 0.36 percent. Meanwhile, the Korean won strengthened to 1,472.40 per dollar from 1,483.30 in the previous session. Elsewhere in Asia, Hong Kong’s Hang Seng Index rose 1.74 percent to 26,225.42. Japan’s Nikkei 225 was closed on Monday for Greenery Day, while China’s Shanghai Composite Index remained closed for the Labor Day holiday period. 2026-05-04 11:01:37