Yoo Hyun-jo wins inaugural DB Women’s Championship for first victory of 2026 season "I’m going to put aside the impatience to win and just try to play golf in a fun, enjoyable way." Yoo won the inaugural DB Women’s Championship on Saturday at Rainbow Hills Country Club (par 72) in Eumseong, North Chungcheong province, on the Korea Ladies Professional Golf Association tour. She shot an even-par 72 in the final round with two birdies and two bogeys. Yoo finished at 7-under 281, edging Ko Ji-won, Kim Min-sol and Lee Da-yeon by one stroke. The tournament carried a total purse of 1.2 billion won, with 216 million won going to the winner. The 2024 KLPGA rookie of the year, Yoo won last year’s player of the year and low scoring titles. Saturday’s victory was her first of the 2026 season and her third career tour win, coming eight months after her win at the KB Financial Star Championship last September. "I’m so happy I could become the tournament’s first champion," Yoo said. "I had a tough time early this year. I think I’m even happier because I was able to recover quickly and win." Yoo entered the season with high expectations but struggled early, failing to contend in her first four starts and missing the cut at the Nexen-SaintNine Masters, which ended April 19. She found momentum at the Deokshin EPC Championship, which ended April 26, tying for third to rebuild confidence. Yoo said she felt pressure after last season’s success. "Because I did so well last year, I thought I could do even better this year," she said. "The pressure to do better grew, and I became afraid of making mistakes. That led to bad results. Starting with the last tournament, I tried to empty my mind a bit. I wanted to play golf happily as Yoo Hyun-jo before being a golfer. I think this win came from letting go of greed and impatience." She said the change helped her stay steady after mistakes. "I think not being impatient was the driving force behind the win," Yoo said. "When I made mistakes, I thought, ‘Winning isn’t something I can do just because I want it.’ I just tried to do my best where I was. Not forcing course strategy or getting greedy helped me win." Yoo said she is still aiming to lead the tour in wins this season, but without pressing for results. "This win will give a big boost to my hope of becoming the multiple-wins leader," she said. "That’s still the goal. But I won’t rush just to win. I plan to enjoy it and have fun, like I did this week." Ko, who led alone after each of the first three rounds, sought her first multiple-win season but lost two strokes Saturday and settled for second. Park Ju-young, described as a mother on tour, posted the day’s best round by cutting five strokes. She finished at 5-under 283, tied for fifth with Kim Soo-ji and Han Jin-seon. 2026-05-03 18:10:40

Profit-Linked Bonus Demands Spread Across South Korea’s Top Industries Labor disputes are flaring simultaneously at some of South Korea’s flagship companies, spanning semiconductors, autos, biotech and telecommunications, as unions push for bigger, profit-linked bonuses. The Samsung Electronics union has warned of a general strike while demanding the removal of a bonus cap and distribution of 15% of operating profit. The Samsung Biologics union began its first full-scale strike since the company’s founding on May 1. The Hyundai Motor union is seeking bonuses equal to 30% of net profit, and the LG Uplus union is also demanding 30% of operating profit, widening what has become a contest over “profit-linked bonuses” across industry. Unions argue that stronger results justify a larger share. But the demands are increasingly seen as going beyond routine pay bargaining, as signals emerge that could affect companies’ capacity to invest, production stability, supply-chain confidence, gaps between prime contractors and suppliers, and ultimately national industrial competitiveness. Some in the industry trace the current dynamic to SK hynix, where bonuses around 10% of operating profit have come to be treated as a benchmark. Once a higher ratio is set at one company, other unions find it harder to accept less, and negotiations can shift from productivity to symbolic one-upmanship — a dynamic often described as a “bonus chicken game.” The issue is not confined to individual companies. Since the implementation of the so-called Yellow Envelope Act, bargaining demands by subcontractor unions toward prime contractors have surged, with requests filed at multiple worksites — including Hanwha Ocean, POSCO and Hyundai Motor — from the first day of enforcement. As large-company unions raise profit-linked compensation standards, prime contractors’ cost burdens grow, increasing the likelihood that pressure is passed on through tighter supplier pricing or reduced investment. That, in turn, highlights a long-standing bottleneck in Korean industry: bargaining power rises for regular workers at big firms, while smaller suppliers, nonregular workers and subcontracted labor can face greater instability. As bonus payouts grow, companies may have less room to raise payments to partner firms, potentially widening wage gaps between large companies and small and midsize businesses. Critics warn that what appears to expand labor’s share could deepen the labor market’s dual structure. The industrial reality is unforgiving. Semiconductors, biotech and autos face global competition, heavy capital spending and pressure to shift technologies. If bonuses harden into an automatic fixed share of profits rather than rewards tied to productivity gains, management can become locked into short-term cash distribution while investment is pushed back. When unions seek to maximize payouts based on short-term performance, spending on research and development, facility expansion and new businesses — often the first sources of future growth — is more likely to be squeezed. The need now, the article argues, is not escalation but a reset of rules. Bonus systems should reflect more than a simple share of operating or net profit, incorporating investment execution, cash flow, industry cycles and future cost provisions. Before strikes and all-out confrontation, labor and management should institutionalize bonus formulas, upper and lower limits, and adjustment principles for downturns. It also calls for broader discussion of how compensation systems at major prime contractors ripple through suppliers and the wider industrial ecosystem. South Korea’s economy rests on exports, manufacturing and the competitiveness of advanced industries. The current bonus conflicts are both a dispute over labor’s fair share and a warning light that could erode the power of the country’s growth engine. Just as unions should weigh not only today’s profits but also tomorrow’s survival, companies should treat labor not simply as a cost but as a pillar of sustainable competitiveness. The article concludes that this is not a problem that ends with one side’s victory. It says negotiations should focus on sustainability — not a test of strength — so that sharing industrial gains does not damage the industry’s future. * This article has been translated by AI. 2026-05-03 18:03:46

Samsung Electronics Faces Q2 Cost Risks Despite Chip Boom, Union Bonus Talks and Strike Threat Samsung Electronics posted a first-quarter earnings surprise on the back of a semiconductor upcycle, but it could face major cost risks in the second quarter, including labor-management tensions, industry and financial sources said Saturday. Analysts warn that the union’s unusually large bonus demands and the possibility of a strike could significantly erode chip profits. Market consensus for Samsung’s second-quarter results calls for revenue of 174.4 trillion won and operating profit of 86.8 trillion won, according to the sources. Operating profit at the Device Solutions (DS) division, which runs the chip business, is estimated in the 80 trillion won range — about a 50% increase from the prior quarter’s 53.7 trillion won. How much of that improvement is realized may depend on the outcome of bonus negotiations, which could add costs in the trillions of won. The union is seeking to set aside 15% of annual operating profit for performance bonuses. With some forecasts putting Samsung’s full-year operating profit as high as 350 trillion won, accepting the proposal as-is would push bonus payouts above 50 trillion won. The company has indicated the impact could begin as soon as the second quarter. On an April 30 first-quarter conference call, Samsung said bonus provisions were not reflected in first-quarter results because talks were ongoing, adding that “depending on the outcome of negotiations, whether and how much is reflected could be decided as early as the second quarter.” Because bonus provisions are typically spread across quarters, a deal would likely require recognizing costs of several trillion won each quarter, potentially weighing on results through the second to fourth quarters even if operating profit hits a record. If talks fail, Samsung could face a different kind of cost shock. The union has warned it will launch an 18-day general strike starting May 21. If labor action halts semiconductor production lines, losses of at least 10 trillion won are expected, the report said. Due to the nature of chip manufacturing, even a brief power outage or stoppage can force the disposal of all wafers in process on the affected line. Industry officials also voiced concern that the dispute could undermine longer-term competitiveness as global rivalry intensifies and large-scale investment is needed to secure next-generation technologies such as high-bandwidth memory (HBM) and advanced foundry processes. Lee Jong-hwan, a professor of system semiconductor engineering at Sangmyung University, said the prospect of large strike-related costs is “regrettable” at a time when expectations are rising for a rebound in foundry competitiveness. He said such costs could crowd out research and development funding needed to strengthen the nation’s semiconductor capabilities and weaken long-term growth drivers. * This article has been translated by AI. 2026-05-03 18:03:17

Korean Horror Film 'Salmokji' Tops 2.6 Million Admissions, Ranks No. 3 All Time The horror film 'Salmokji' has surpassed 2.6 million admissions, ranking third among the top-grossing horror films in South Korea’s box office history. According to the Korean Film Council’s integrated ticketing network, the film’s cumulative audience topped 2.6 million on Saturday. That moved it past the 2002 release 'Phone' (estimated 2.6 million) into third place on the all-time domestic horror list. 'Salmokji' reached 2.4 million admissions — three times its break-even point — and crossed 2.6 million just a day later, maintaining strong momentum. Observers credited word-of-mouth driven by what has been described as “experiential horror,” bucking the usual notion that the genre performs best in summer. Attention is now on whether it can overtake the No. 2 record held by 'Gonjiam' (2.68 million). The film has also held up against new competition, including 'The Devil Wears Prada 2' and 'Super Mario Galaxy,' staying near the top in seat sales. It posted seat-occupancy rates of 42.8% on May 1 and 31.5% on May 2, signaling sustained demand during the holiday period. Earlier, 'Salmokji' led the overall box office for 21 consecutive days from its release through April 28, the longest opening-to-No.-1 run among films released in 2026. It later slipped to third once, but reclaimed the top spot the next day by drawing 102,166 viewers on April 30. Its fourth-week Thursday tally also exceeded its opening-day figure of 90,000, an unusual result. The film has drawn audiences despite having fewer screens and seats than rivals. On May 1, it accounted for about 12% of total seats but recorded a 37% seat-occupancy rate. Analysts said repeat business has been supported by moviegoers in their teens and 20s, often attending with friends. 'Salmokji' follows a film crew that heads to a reservoir for reshoots after an unidentified figure appears on a road-view image, only to encounter something in the dark, deep water. The film is directed by newcomer Lee Sang-min and stars Kim Hye-yoon, Lee Jong-won, Kim Jun-han, Kim Young-sung, Oh Dong-min, Yoon Jae-chan and Jang Da-a.* This article has been translated by AI. 2026-05-03 17:48:15

Iran Proposes Hormuz Strait Controls, Fees; Would Bar Israeli Ships and Demand Reparations Iran is moving to place the Strait of Hormuz effectively under its control and impose transit fees. Iran International, a U.K.-based opposition outlet, reported that Ali Nikzad, the first deputy speaker of Iran’s parliament, said during a visit to Bandar Abbas that a 12-point plan on Hormuz controls and transit rules would ban Israeli vessels from passing through the strait under any circumstances. Nikzad added that ships belonging to “hostile” countries would not be allowed to transit unless they first pay compensation for war-related damage. He did not name specific countries. Iran International said the measure is being interpreted as aimed at the United States and some Middle Eastern Arab allies, which Iran has previously described as “hostile countries.” The plan would also restrict passage for ships from nonhostile countries. Under the proposal, all vessels would need prior Iranian permission before transiting the strait, and could be required to pay a fee. Mohammadreza Rezaei, chair of parliament’s construction committee, said Iran plans to use 30% of the fee revenue to expand military infrastructure and the remaining 70% for economic development and welfare. “Managing the Strait of Hormuz is more important than obtaining nuclear weapons,” he said. Since a Middle East war began after the United States and Israel struck Iran on Feb. 28, the strait has remained effectively blocked, according to the report. The waterway is a key maritime route through which about 20% of global oil and gas supplies pass. Iran is seeking to use the fee system to offset some of its war-related economic losses, but the United States has strongly objected. Washington has warned that companies or countries that pay Iran’s transit fees could face sanctions.* This article has been translated by AI. 2026-05-03 17:42:05

Takaichi Unveils Revised ‘Free and Open Indo-Pacific’ Plan in Hanoi, Puts Economic Security First Japan’s Prime Minister Sanae Takaichi, visiting Vietnam, used a foreign policy speech to lay out a new diplomatic line, revising the “Free and Open Indo-Pacific” (FOIP) concept first advanced in 2016 by former Prime Minister Shinzo Abe. The update shifts the emphasis decisively toward economic security, including stronger supply chains for critical goods, analysts said. Speaking at Vietnam National University in Hanoi to an audience of 270 students and experts, Takaichi said, “The environment around us has changed greatly, but the validity of FOIP remains unshaken,” adding that Japan would “play an even more proactive role than before.” She set out three priorities: building an economic ecosystem by strengthening energy and critical-material supply chains; jointly developing new economic fields and sharing rules through public-private cooperation; and expanding linkages in the security domain. Takaichi also said Japan would promote a “FOIP digital corridor” focused on information and communications infrastructure such as undersea cables and communications satellites. She said Japan would expand both the number of countries and the scale of its Official Security Assistance (OSA) program, which provides weapons and equipment free of charge to friendly militaries. She also pledged an early start to procedures to expand the Trans-Pacific Partnership (TPP). Japanese media offered differing readings of the revised plan. Nikkei said the update is aimed at responding to an era of “power” shaped by the United States and China, and at preserving a wavering “rule of law” by putting economic security at the center and prioritizing practical cooperation with partners. Nikkei highlighted what it called a key difference from 2016. When Abe first promoted FOIP, Japan and the United States held up shared values such as “freedom from coercion,” the “rule of law” and a “market economy.” A decade later, Nikkei wrote, “the United States, FOIP’s most important partner, has come to ‘coerce’ countries by using tariffs.” The newspaper also said the United States showed disregard for international law in a military clash with Iran and described the Strait of Hormuz as having been “reverse-blockaded.” In Nikkei’s framing, the United States shifted from a country that should not be a coercer to one acting as a coercer. Nikkei also pointed to China’s export controls on critical materials and Russia’s invasion of Ukraine as factors creating an environment in which countries “cannot help but follow power.” It said Takaichi’s call for “autonomy” and “resilience” across the economy, society and security fit that context. Yomiuri Shimbun said the revised FOIP is aimed at China, which it said is intensifying coercive moves on both the economic and military fronts. It reported that Takaichi warned low-cost Chinese artificial intelligence could be used for influence operations and stressed joint development of local-language AI with Southeast Asian countries. Yomiuri also said she signaled a response to market distortions, citing “unfairly low-priced supply,” in remarks it linked to China amid concerns about overproduction in sectors such as electric vehicles and steel. Yomiuri also cast a $10 billion financial support package announced by the Japanese government last month, dubbed “Power Asia,” as a core tool of Takaichi’s diplomacy. It said the package could be used urgently, including to support crude oil procurement for Southeast Asian countries during the Strait of Hormuz blockade situation. A senior Japanese government official described Power Asia as “live ammunition” to put FOIP into practice. Another Foreign Ministry official said Japan’s strength is providing tailored support for what partner countries need, since Japan cannot outspend China in scale. At the same time, Japanese newspapers voiced doubts about the plan’s effectiveness, pointing to the absence of the United States as a shared weakness. Yomiuri said the United States, pressed by Middle East developments, has little room to focus on the Indo-Pacific and warned that without U.S. cooperation the prime minister’s plan could become “a pie in the sky.” Asahi Shimbun said the second Trump administration has continued actions that deny freedom and the rule of law, including launching attacks on Iran while disregarding international law. Combined with Nikkei’s view that the United States has become a coercive actor, the three papers described different facets of the same vulnerability: physical absence, ideological departure and coercive behavior. A second weakness, Asahi said, is that even Vietnam — the venue for the announcement — may keep its distance. Citing Futaba Ishizuka, a researcher at the Institute of Developing Economies, Asahi reported that while Vietnam joined the Indo-Pacific Economic Framework (IPEF), it has avoided using the U.S.-promoted phrase “Indo-Pacific” in major domestic policy documents. The move was seen as reflecting sensitivity to China, a neighboring socialist country and Vietnam’s largest trading partner, and Asahi said Vietnam is expected to “carefully balance” its stance on the revised FOIP as well. A third weakness is the diverging positions among Southeast Asian countries. Yomiuri said there are differences in temperature on security cooperation: the Philippines is considering importing used Japanese weapons and equipment, while Cambodia and Indonesia have held successive “2+2” meetings of foreign and defense ministers with China since last year. The paper said the reality is not a unified ASEAN line but a region split in multiple directions. Takaichi’s revised FOIP has opened with a high-profile rollout, but Japanese media said Japan faces a heavy task in rallying partners without the United States. Vietnam’s cautious approach and Southeast Asia’s fragmentation have emerged as early variables. How Japan manages partner diplomacy amid U.S. absence remains a key test, with implications for South Korea’s Indo-Pacific strategy and its ASEAN diplomacy.* This article has been translated by AI. 2026-05-03 17:41:02

PPP leader Jang Dong-hyeok campaigns in Daegu for mayoral hopeful Choo Kyung-ho Jang Dong-hyeok, leader of the People Power Party, visited Daegu on Saturday to rally support for Choo Kyung-ho, the party’s candidate for Daegu mayor, saying the conservative stronghold should not be handed to Kim Boo-kyum. Jang’s appearance followed his attendance a day earlier at the opening of Busan mayoral candidate Park Hyung-joon’s campaign office, as the party seeks to consolidate its base. Speaking at Choo’s campaign office opening in Suseong District, Jang said he had checked what he described as Kim’s criminal record the previous day and criticized Kim as someone who received a one-year prison sentence with a two-year suspended term for violating the National Security Law. Jang also accused President Lee Jae-myung of trying to erase his own alleged wrongdoing, saying Lee had pursued what Jang called an unreasonable state investigation and was now pushing a special counsel probe aimed at canceling indictments tied to 12 allegations. Jang claimed such a move would lead to what he called a socialist constitution intended to extend Lee’s term. “This has to be stopped in Daegu,” Jang said, calling the local elections a contest to block dictatorship and socialism and to protect liberal democracy and future generations. He said supporters last winter chanted “We are Choo Kyung-ho” to defend Choo, and argued that Choo is now running for mayor to protect South Korea, liberal democracy and Daegu. “Economic mayor Choo Kyung-ho will change Daegu,” he said. Addressing controversy over the party’s nomination process for the Daegu mayoral race, Jang apologized to Daegu residents, saying as party leader he was responsible. He also expressed regret to National Assembly Deputy Speaker Joo Ho-young and candidate Lee Jin-sook, who were cut from the primary process. The event drew party leaders and nearly 40 sitting lawmakers, including honorary campaign chair Kim Moon-soo, a former labor minister; former Korea Communications Commission chair Lee Jin-sook; and lawmakers Joo Ho-young, Na Kyung-won and Yoon Jae-ok. Former President Lee Myung-bak also offered a video message of support, saying Daegu needs an “economic mayor, not a political mayor.” He cited the global financial crisis shortly after his inauguration, saying South Korea was the only country to post positive growth and that Choo served at the time as senior secretary for economic and financial affairs at Cheong Wa Dae and head of an emergency economic situation office.* This article has been translated by AI. 2026-05-03 17:40:05

Song Min-hyeok wins GS Caltex Maekyung Open in playoff for first career title Song Min-hyeok won the 45th GS Caltex Maekyung Open, claiming his first career title after a playoff at Namseoul Country Club (par 71) in Seongnam, Gyeonggi Province. Song shot a 1-under 71 in Sunday’s final round with three birdies and two bogeys to finish at 11-under 273. He then beat Cho Min-kyu on the first extra hole at the par-4 18th, sealing the win with a par putt. The victory earned Song 300 million won in prize money. By winning the event, co-sanctioned with the Asian Tour, he also secured a five-year exemption on the Korea Professional Golfers’ Association (KPGA) Tour and a two-year exemption on the Asian Tour. Song was a national team member from 2021 to 2023 and debuted on the KPGA Tour the following year. In the 2024 season, he posted a tie for fourth at the Dong-A Membership Group Open and a tie for second at the KPGA Tour Championship, winning rookie of the year honors. His best finish before this week was second at the KPGA Tour Championship in November 2024. He also erased lingering disappointment from 2023, when he finished runner-up in this tournament as an amateur. Cho, meanwhile, settled for his fourth runner-up finish at the event, after also placing second in 2011, 2020 and 2022. Heo In-hoe, who closed with a 7-under 65 to finish tied for the lead, did not advance to the playoff after a scoring correction. Officials added two strokes for a provisional-ball situation on the par-4 seventh hole in the third round on May 2, changing his score there from par to double bogey. The adjustment dropped Heo to a tie for third at 9-under 275.* This article has been translated by AI. 2026-05-03 17:39:15

Hanwha Solutions’ Rights Offering Faces Second Regulator Revision Request Hanwha Solutions’ plan for a rights offering has been halted again after South Korea’s financial regulator demanded another revision, even after the company reduced the deal size. The latest move has sharpened scrutiny on investor protection and whether the company can justify how it plans to use the funds. Industry officials said Saturday that Hanwha Solutions disclosed it was asked by the Financial Supervisory Service on April 30 to submit a revised registration statement for the rights offering it filed April 17. It was the second such request, following an initial revision demand on April 9. The filing has not been accepted, and its effectiveness has been suspended. Hanwha Solutions previously announced a 2.4 trillion won rights offering aimed at repaying debt, saying it was a step to prevent a credit-rating downgrade amid worsening business conditions. The market response was negative, with criticism that the company moved ahead with a large share issuance without sufficient communication with shareholders and that it planned to use most of the proceeds to pay down debt. The company reapplied after cutting the offering to 1.8144 trillion won, but still failed to clear the regulator’s review. The FSS said the disclosure lacked sufficient detail. It reportedly took issue in particular with about 5 trillion won in noncore assets, including real estate and stakes in other companies, held by Hanwha Solutions. During the first review, the FSS was also said to have questioned why the company pursued a rights offering despite holding a sizable amount of such noncore assets. Some in the market say Hanwha Solutions needs to redesign the offering, providing more specific explanations of how the funds will be used and how the plan would improve its finances, while also presenting steps to limit damage to shareholder value. Industry observers have raised the possibility that Hanwha Solutions could further reduce the amount and add a third-party allotment, since debt repayment still accounts for nearly half of the use of proceeds even after the cut. However, a third-party deal may be difficult because demand from outside investors may be limited and only a small number of affiliates could participate, they said. Hanwha Solutions said it would accept the FSS request and work to supplement the filing. “We take the FSS request very seriously,” the company said, adding that it would “humbly reflect once again on the criticisms and opinions raised by shareholders and the media” and prepare a revised registration statement that meets the requirements.* This article has been translated by AI. 2026-05-03 17:34:13

Korea’s Imported Car Market Splits Between Ultra-Luxury and Budget Models Korea’s imported-car market is increasingly splitting between ultra-expensive models and bargain-priced vehicles, with fewer buyers in the middle. The same pattern is emerging in the fast-growing electric-vehicle segment, where attention is focused on high-performance EVs priced above 100 million won and entry-level models using LFP batteries that maximize government subsidies. According to the Korea Automobile Importers & Distributors Association on May 3, sales of imported cars priced at 100 million won or more totaled 17,375 in the first quarter, up 13.3% from 15,795 a year earlier. By price band, vehicles priced from 100 million won to under 150 million won jumped 22.7% to 9,258. Sales of models priced at 150 million won or more edged down 1.2% to 8,088 from 8,184. Among imported cars priced above 100 million won, BMW led with 6,540 vehicles sold, followed by Mercedes-Benz with 4,687 and Porsche with 2,105. Among brands classified as “luxury cars,” Bentley sold 99 vehicles in the first quarter, up 98% from 50 a year earlier. Land Rover sales rose 10.1% to 1,141 from 1,036, and Rolls-Royce increased 13.2% to 43 from 38. Budget-focused brands also gained ground. China’s BYD sold 2,252 vehicles in the first quarter, accounting for 84% of imported-car sales priced under 40 million won. With BYD’s surge, total sales in that under-40-million-won segment reached 2,038, up 581.6% from 299 a year earlier. The split is also evident in EVs. Sales of imported EVs priced at 100 million won or more rose 72.3% to 2,872 in the first quarter. At the same time, sales of mass-market EVs priced at 50 million won or less totaled 17,938, about 60% of the overall imported EV market of 31,498, driving growth. By contrast, sales in the 50 million to 70 million won range—often seen as the market’s average price band—rose 13.9% to 20,575. That increase lagged the overall imported-car growth rate of 35.5%. The disappearance of midrange demand is being attributed to widening gaps in household wealth. With some assets such as real estate and stocks rising sharply, higher-income consumers have gained purchasing power, while many households facing high prices and high interest rates are focusing more strictly on value, the association said. The trend has been reinforced as EV brands such as Tesla reduce midpriced offerings and emphasize a two-track approach centered on higher-margin luxury models and lower-priced vehicles. An industry official said the value segment is expanding as lower-priced EVs gain traction, while buyers seeking clear differentiation are moving into the ultra-premium market, reshaping demand toward the extremes. “Brands with an unclear position will find it increasingly difficult to survive,” the official said. The official added that as polarization by price is expected to become more pronounced, imported-car brands should refine strategies to meet layered consumer demand. 2026-05-03 17:33:16