Customs Agency Intensifies Efforts to Secure Petrochemical Raw Materials Amid Middle East Tensions The Customs Agency has launched on-site inspections to address the instability in the supply of petrochemical raw materials resulting from prolonged tensions in the Middle East.On May 11, Lee Jin-hee, Director of the Customs Agency, visited the SK Geo Centric plant located in the petrochemical complex in Ulsan to evaluate the supply situation of key petrochemical raw materials such as naphtha and toluene, and to listen to the industry's concerns. This visit was organized to verify the effective implementation of the Customs Agency's customs and tax support programs in light of the increasing volatility in raw material supply due to the ongoing situation in the Middle East.The petrochemical industry is particularly sensitive to supply chain disruptions in the Middle East, given its high dependence on crude oil and naphtha imports. During the visit, a representative from SK Geo Centric explained that the blockade of the Strait of Hormuz has led to increased shipping costs due to the use of alternate routes, and that managing certificates of origin has become more burdensome during the diversification of supply chains.In response, Director Lee stated, "We can alleviate cost burdens by actively utilizing tax relief measures, such as excluding increased shipping costs from taxable prices, post-application for FTA tariff rates, and extending customs payment deadlines." He also focused on ensuring that recently implemented customs support policies, including 24-hour customs assistance for urgent demand items and pre-import customs clearance, are being appropriately utilized in the field.The Customs Agency plans to expand on-site inspections, particularly for items with unstable domestic supply, and to strengthen communication with the industry to enhance supply chain response capabilities. Director Lee emphasized, "In the current supply chain environment, it is crucial not only to secure quantities but also to ensure a swift connection to production. We will operate the system flexibly around businesses to prevent delays in the customs process and will listen to feedback from the field to make immediate improvements where necessary."He added, "The stable supply of petrochemical raw materials is directly linked to the maintenance of national industries, so we will strengthen cooperation with relevant ministries to minimize factors contributing to supply instability."* This article has been translated by AI. 2026-05-11 13:42:23

Judge Ji Gwi-yeon Questioned by Anti-Corruption Agency Over Room Salon Allegations Yoon Suk Yeol's former chief judge in the insurrection case, Ji Gwi-yeon of the Seoul Northern District Court, has been summoned for questioning by the Anti-Corruption and Civil Rights Commission (ACRC) over allegations related to a room salon. According to legal sources on May 11, the ACRC questioned Judge Ji as a suspect on May 7 regarding charges of bribery and violations of anti-corruption laws. This marks the first time Judge Ji has faced questioning since the ACRC initiated a forced investigation six months ago in November of last year. Judge Ji made headlines in March 2023 when he ruled that the detention period for former President Yoon Suk Yeol, who was arrested on charges of insurrection and abuse of authority, should be calculated based on time rather than date, leading to significant criticism from opposition parties. In May of the same year, the Democratic Party released a photo allegedly showing Judge Ji seated with two companions at a bar in Gangnam, which was said to be a room salon where female employees provide entertainment. This revelation sparked controversy. During the trial of former President Yoon for insurrection, Judge Ji denied all allegations, stating, "The claims made are not true, and I have never considered being entertained. Above all, that era is over. No one even buys you pork belly and soju anymore." However, civic groups, including Candlelight Action, filed complaints against Judge Ji for bribery and violations of anti-corruption laws. The ACRC assigned the case to its investigation division, led by Chief Prosecutor Lee Dae-hwan, and obtained a search warrant from the court in November to seize Judge Ji's taxi app usage records, initiating a forced investigation. The Supreme Court's Ethics Office also began an investigation into the allegations but concluded in September that "it is difficult to recognize a connection to his duties." Judge Ji, who presided over the first trial of former President Yoon's insurrection case and sentenced him to life imprisonment in February, has since been reassigned to the civil division at the Seoul Northern District Court.* This article has been translated by AI. 2026-05-11 13:39:23

Labor Minister Kim Young-hoon Welcomes Samsung Labor Adjustment Process Kim Young-hoon, the Minister of Employment and Labor, expressed his support on May 11 for the initiation of post-adjustment procedures by the Central Labor Relations Commission, following an agreement between Samsung Electronics and its labor union. He urged both parties to approach the adjustments with a sense of social responsibility, in line with Samsung's motto of being "Another Family, Samsung." During a policy review meeting at the Government Sejong Center, Minister Kim stated, "Just as Samsung Electronics has become a world-class company through technology, it should also set a new standard in labor relations." Previously, the Samsung Electronics labor union had been negotiating with management since December of last year, demanding the elimination of the cap on performance bonuses. However, after failing to reach an agreement, the union declared a breakdown in negotiations and announced plans for a general strike starting on May 21. In this context, the Samsung Electronics mega union will participate in the post-adjustment procedures at the Central Labor Relations Commission on May 11 and 12, following mediation by labor authorities. Minister Kim also noted on his social media platform X earlier that morning, "Today marks the start of the hard-won post-adjustment process for Samsung Electronics. I thank both labor and management for their decisions. While this adjustment may not be easy, the solution may already be closer than we think." The Ministry of Labor plans to support Samsung Electronics and its labor union in finding common ground through dialogue and compromise. Minister Kim emphasized, "We must build a labor relationship that transcends individual interests and fosters mutual growth. I hope this situation sparks active social discussions on the appropriate sharing and distribution of corporate performance, and the government will provide support for this."* This article has been translated by AI. 2026-05-11 13:20:03

Neowiz Reports 1st Quarter Operating Profit of 7 Billion Won, Down 32% Year-on-Year Neowiz reported growth in revenue due to the performance of its live intellectual property (IP) games, but its operating profit fell 32% compared to the same period last year. Increased revenue from mobile games led to higher platform fees and revenue sharing costs. On May 11, Neowiz announced that its consolidated revenue for the first quarter of 2026 reached 101.4 billion won, a 14% increase year-on-year. However, operating profit dropped to 7 billion won, a decrease of 32% from the previous year. The net profit for the period was 15.5 billion won. The first quarter saw stable revenue growth driven by the success of key live IPs. Revenue from the PC and console gaming segment was 39.5 billion won, up 9% year-on-year. However, it fell 14% compared to the previous quarter due to a decline in initial sales effects from 'Shape of Dreams' and 'P's Lie: Prelude.' 'P's Lie' maintained sales momentum following a global discount event in March, while 'Shape of Dreams' continued to perform well after surpassing cumulative sales of 1 million copies. Mobile game revenue reached 51.4 billion won, a 13% increase from the previous year. 'Brown Dust 2' saw some revenue from its 2.5th anniversary event in the previous quarter carried over into the first quarter. Additionally, a successful live event and special skin promotion held in March helped maintain traffic. The web board game segment benefited from regulatory easing in February, leading to a rebound in average revenue per paying user (ARPPU). Other revenue totaled 10.5 billion won, marking a 45% increase year-on-year. Despite the increase in revenue across Neowiz's PC, console, and mobile gaming segments, operating profit decreased by 32% year-on-year and 48% compared to the previous quarter. The decline in operating profit was attributed to increased variable costs associated with higher mobile game revenue. Neowiz explained that the growth in revenue from mobile games like 'Brown Dust 2' and web board games resulted in higher platform fees and revenue sharing costs. Looking ahead to the second quarter, Neowiz plans to continue its growth trajectory with global events and fan activities centered around key IPs such as 'Brown Dust 2' and 'DJ Max Respect V.' The official sequel to 'Cat and Soup,' which has surpassed 80 million global downloads, was launched globally on April 28. New projects have also entered full development stages. According to Neowiz, the next installment of 'P's Lie' is currently focused on enhancing the overall gameplay experience and quality. Development is ongoing for 'Project CF,' 'Project Rubicon,' and 'Project Windy.' The mobile game 'Kingdom 2' is in its final stages of development, aiming for an early release in the second half of the year. Additionally, the publishing lineup includes the upcoming release of 'Hello Seoul: Itaewon Edition' in the second half of the year, along with new titles from overseas developers Wolf Eye Studio and Zakazane. Meanwhile, in accordance with its mid-to-long-term shareholder return policy announced in January, Neowiz executed a shareholder return of approximately 12 billion won, equivalent to 20% of last year's consolidated operating profit of 60 billion won. This included cash dividends of about 6 billion won and the buyback and cancellation of treasury shares worth approximately 6 billion won.* This article has been translated by AI. 2026-05-11 13:18:24

Jung Cheong-rae Reaffirms Commitment to Victory in Gangwon Ahead of Local Elections Jung Cheong-rae, leader of the Democratic Party, reaffirmed his commitment to winning the local elections on May 11, emphasizing the need for unity among candidates for Gangwon governor and local council members. He urged that they must work together for the future of both South Korea and Gangwon Province. At a candidate selection meeting in Chuncheon, Jung stated, "Our slogan and banner for the June 3 local elections is 'Normalization of the Nation and Efficient Local Government.'" He expressed the need to move away from the "abnormal" conditions experienced under the previous administration, which he described as a period marked by oppression of the opposition and attacks on Lee Jae-myung. Jung highlighted the importance of effective governance, saying, "Just as President Lee has demonstrated remarkable administrative capabilities and exceptional diplomatic skills, our promise is to create a local government that works as effectively as the President's administration." He stressed that all levels of government, from the President to local governors and council members, must unite to shape the future of South Korea and Gangwon Province. Specifically addressing Woo Sang-ho, the Democratic candidate for Gangwon governor, Jung remarked, "He is the man sent by the President, who understands the President's thoughts and governance philosophy better than anyone else." He expressed confidence that Woo would be the key to unlocking a significant leap forward for Gangwon Province. Jung concluded by expressing his gratitude for Woo's candidacy, stating, "I am truly fortunate and happy to have Woo as our candidate. Let us move forward together on the path to prosperity for South Korea and a resurgence for Gangwon Province."* This article has been translated by AI. 2026-05-11 12:17:35

Special Prosecutors Investigate Prosecutors Over Allegations of Covering Up Deutsche Motors Case The second special prosecution team, led by Special Prosecutor Kwon Chang-young, is investigating prosecutors from the Seoul Central District Prosecutor's Office over allegations of covering up the stock manipulation case involving Kim Geon-hee and Deutsche Motors. The special prosecutors are focusing on whether there was any interference from the prosecution leadership or the presidential office during the decision not to prosecute Kim. On the morning of May 11, the special prosecutors summoned Choi Jae-hoon, head of the Daejeon District Prosecutor's Office's Major Economic Crimes Investigation Unit, and Kim Min-goo, head of the Financial Investigation Division at the Seoul Southern District Prosecutor's Office, as witnesses. Both are key prosecutors who handled the Deutsche Motors stock manipulation investigation at the Seoul Central District Prosecutor's Office's Anti-Corruption Investigation Division 2. Choi Jae-hoon stated upon his arrival at the special prosecutors' office at around 9:40 a.m., "As the sixth lead prosecutor handling this case, I have never received any improper instructions or external pressure during the investigation. I conducted the investigation rigorously based on evidence and legal principles, leading to the final decision." He added, "The investigation has been ongoing for about ten months, from the special prosecution into Kim Geon-hee last year to the current comprehensive special prosecution. Being left as a subject of investigation constitutes a significant violation of human rights, so I urge for a swift conclusion to the investigation." In contrast, Kim Min-goo did not respond to reporters' questions about why the non-prosecution document was prepared in advance as he headed into the interrogation room. The special prosecutors are investigating whether there was undue pressure during the decision not to prosecute Kim Geon-hee regarding the allegations of stock manipulation involving Deutsche Motors. The Anti-Corruption Investigation Division 2 of the Seoul Central District Prosecutor's Office concluded that Kim Geon-hee had merely entrusted her account to former Deutsche Motors chairman Kwon Oh-soo and was unaware of any market manipulation activities, leading to a non-prosecution decision for violations of the Capital Markets Act. Notably, during a search and seizure operation in March at the Supreme Prosecutors' Office, the Seoul Central District Prosecutor's Office, and Gongju District Prosecutor's Office, the special prosecutors reportedly secured the non-prosecution document believed to have been drafted by Kim Min-goo. They suspect that the conclusion not to prosecute may have been internally decided before Kim Geon-hee was questioned in a closed session at the presidential security office in July of the same year, with the document's revision date pinpointed to May 2024. Additionally, the special prosecutors are investigating whether the presidential office or the prosecution leadership influenced the investigation team based on evidence that Kim Geon-hee inquired about her investigation status via a Telegram message to former Justice Minister Park Sung-jae in May 2024. There are also ongoing inquiries into allegations that Lee Chang-soo, the former head of the Seoul Central District Prosecutor's Office, sent a message to the investigation team suggesting they consider a not guilty verdict, to determine whether there was any involvement from the leadership at that time. The investigation team maintains that they made the non-prosecution decision based on sufficient evidence and testimonies, asserting that there was no external pressure. They claim that the disputed non-prosecution document was merely an internal document to review potential arguments and was saved during the handover process in personnel changes.* This article has been translated by AI. 2026-05-11 12:15:29

First Comprehensive Review of 'Blue Seed' Retirement Pension for SMEs The government has initiated its first review of the 'Blue Seed' retirement pension system designed for workers in small and medium enterprises (SMEs). This assessment aims to ensure the stability of fund management and internal controls ahead of an expansion of eligible participants. On May 11, the Ministry of Employment and Labor announced that it, along with the Financial Supervisory Service, will conduct a comprehensive review of the Blue Seed fund over the next two weeks. This marks the first evaluation since the system was introduced in 2022. The review will cover not only the fund's performance but also its risk management systems, contract and account management, subscriber protection measures, and internal control operations. The government plans to examine issues of fairness and transparency, particularly regarding potential harm to subscribers' interests, improper inducements, and the fee structure. The Blue Seed program was established to secure retirement income for SME workers. Currently, it has approximately 170,000 subscribers, with total assets around 1.6 trillion won. Over the past three years, the annual return rate has consistently ranged between 6% and 8%. The government plans to gradually expand the eligibility criteria. Starting in July, businesses with fewer than 50 employees will be able to enroll, followed by those with fewer than 100 employees in January 2027. Revisions are also being pursued to allow special employment workers and freelancers to participate in the subscriber contribution accounts. Based on the findings of this evaluation, the Ministry of Labor will recommend operational improvements and develop measures to enhance the system if any deficiencies are identified. Seo Myung-seok, Director of Labor Standards Policy, stated, "This comprehensive evaluation will serve as an opportunity to thoroughly examine the operation of the Blue Seed program ahead of its reform. We will continue to manage operational performance and risks through regular evaluations."* This article has been translated by AI. 2026-05-11 12:12:08

Increase in Choking Incidents Among Infants and Seniors Prompts Consumer Safety Alert As incidents of choking due to foreign object ingestion among infants and seniors continue to rise, the government has issued a consumer safety alert.On May 11, the Fair Trade Commission reported that last year, the Korea Consumer Agency's Consumer Hazard Monitoring System (CISS) recorded 809 cases of foreign object ingestion. Over the past five years, the trend has shown fluctuations: 728 cases in 2021, 949 in 2022, 972 in 2023, and a temporary decrease to 655 in 2024, followed by a rise again last year.Among the foreign object ingestion incidents in the last five years, 67.6% involved children aged seven and under. Specifically, the highest number of incidents occurred with one-year-olds (25.2%), and more than half (56.3%) of the cases involved infants under two years old, who are more likely to put objects in their mouths.The primary hazardous items ingested by infants included magnets (13.8%, 384 cases), toys (10.0%, 279 cases), and coins (9.6%, 266 cases). Other causes of incidents included marbles, stickers, and batteries. The Fair Trade Commission has urged caution, noting that foreign objects can lead to severe injuries such as intestinal perforation or airway obstruction.In contrast, seniors aged 65 and older are at greater risk of choking incidents due to diminished physical abilities, such as reduced coughing reflexes associated with aging. Many choking incidents among seniors have occurred while consuming foods like rice cakes, sweet potatoes, and tangerines. According to the Fire Agency, a total of 1,196 patients were transported due to airway obstruction from food consumption over the past five years.The Fair Trade Commission emphasized that while infant choking incidents often arise from curiosity during play, choking incidents among seniors frequently occur during meals, highlighting the importance of adjusting food sizes.To prevent choking incidents among infants and seniors, the Fair Trade Commission and the Korea Consumer Agency recommend: keeping small items like magnets and coins out of reach of infants; preparing food for seniors in bite-sized pieces and encouraging slow chewing; and immediately performing emergency measures such as the Heimlich maneuver if choking symptoms occur.* This article has been translated by AI. 2026-05-11 12:10:31

Government Launches Pilot Project for Comprehensive Management of Refrigerants The government is set to launch a pilot project aimed at managing the entire lifecycle of hydrofluorocarbon (HFC) refrigerants, from usage to recovery, regeneration, and disposal. This initiative seeks to reduce greenhouse gas emissions resulting from refrigerant leaks and to lay the groundwork for future legislation on refrigerant management. The Ministry of Climate, Energy, and Environment and the Korea Environment Corporation announced that they will hold a kickoff meeting for the 'Refrigerant Lifecycle Management Pilot Project' on May 12 at the Sharing and Empathy Conference Room in Yongsan, Seoul. The core of this pilot project is to implement a circular system that recovers waste refrigerants from devices such as air conditioners and refrigerators and regenerates them for reuse. The government aims to systematically manage the entire process of refrigerant usage, recovery, and regeneration to enhance the effectiveness of greenhouse gas reduction. Hydrofluorocarbons, widely used as refrigerants, were developed to replace ozone-depleting substances like chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HCFCs). However, HFCs have a global warming potential (GWP) that can be up to 12,400 times greater than that of carbon dioxide, making them significant contributors to global warming. In response, the international community agreed in 2016 under the Montreal Protocol to designate HFCs as regulated substances and to phase them out gradually. As the need for refrigerant management grows domestically, discussions on related regulatory frameworks are accelerating. Industry stakeholders have raised concerns about instances where refrigerants are not properly recovered during the maintenance or disposal of equipment like air conditioners and refrigerators, leading to leaks into the atmosphere. Once charged, refrigerants can remain in devices for extended periods, which can significantly impact greenhouse gas emissions if management gaps occur. Current air quality regulations mandate refrigerant recovery only for large equipment with a legal refrigeration capacity of 20 RT or more. However, many medium and small-sized devices are excluded from this requirement, raising ongoing concerns about regulatory gaps. The pilot project will involve participation from Chungcheongnam-do and the Seoul Transportation Corporation, which plan to actively recover waste refrigerants from devices and products not covered by legal regulations. A system for managing residual refrigerants in containers and recovering, regenerating, and reusing refrigerants will also be established. The Ministry of Climate plans to expand efforts to remove moisture and contaminants from waste refrigerants to utilize them as regenerated refrigerants of new product quality. This initiative aims to reduce dependence on the production and import of new refrigerants and strengthen the foundation for a circular economy. Based on the results of this pilot project, the ministry will also pursue the establishment of a 'Refrigerant Management Act' (tentative title) that encompasses the recovery, transportation, regeneration, and disposal of refrigerants. Kim Jin-sik, Director of the Air Quality Division at the Ministry of Climate, stated, "Hydrofluorocarbon refrigerants can leak for over 15 years after being charged, making thorough management essential for achieving national greenhouse gas reduction targets (NDC). We will do our utmost to ensure that the systems introduced through this pilot project are implemented smoothly in the field."* This article has been translated by AI. 2026-05-11 12:08:51

Government Implements Dispute Resolution System for Chemical Registration Delays As disputes over costs between companies have led to delays in chemical substance registrations, the government is taking formal steps to mediate these conflicts. The aim is to maintain the principle of shared use of testing data for the same substances while reducing registration delays and the burdens of production and export.The Ministry of Environment and Energy announced on May 10 that a system to resolve disputes arising during the chemical registration process will be officially implemented starting May 12.Under the current Chemical Registration and Evaluation Act, companies seeking to register existing chemical substances must form a consortium with other companies using the same substances to jointly secure and submit the necessary testing data. If a later company wishes to utilize already registered substances, it must also obtain consent from the existing data owner to share the data.In practice, delays in chemical registrations have occurred due to disagreements over data usage fees and cost-sharing arrangements.The Ministry has established principles for cost-sharing and accounting applicable to the production and use of registration application data in relevant laws, allowing the government to step in for official mediation in case of disputes.When a company applies for mediation through the chemical substance information processing system, the government will review legal principles, similar cases, and the opinions of related companies to prepare a mediation proposal, which will then be recommended to the parties involved in the dispute.If mediation fails, the later registering company can apply to the government for a submission deferment regarding the relevant data. If approved, the company can proceed with the registration process without submitting the data and continue discussions afterward.The government expects that addressing cost disputes will reduce delays in registration and disruptions to business operations.Jo Hyun-soo, Director of the Environmental Health Bureau at the Ministry, stated, "The government will continue to support the industry in implementing the system with reasonable costs and procedures while ensuring comprehensive information on the harmfulness of chemical substances is secured."* This article has been translated by AI. 2026-05-11 12:07:12