Prosecutors, firms clash in court over alleged $677.6 billion won KEPCO GIS bid-rigging Prosecutors and power-equipment makers clashed in court over whether a Korea Electric Power Corp. gas-insulated switchgear (GIS) case amounts to a long-running, structural cartel, as a trial over alleged bid rigging worth about 677.6 billion won moved forward. The Seoul Central District Court’s Criminal Division 32, led by Presiding Judge Ryu Kyung-jin, held the first hearing Tuesday for eight companies — including Hyosung Heavy Industries, HD Hyundai Electric, LS Electric and Iljin Electric — and current and former employees charged with violating the Fair Trade Act. The court discussed the trial schedule and evidence procedures and also held bail hearings for some defendants indicted in custody. Prosecutors allege the defendants coordinated expected winners and bid prices in advance in 145 KEPCO tenders from 2015 to 2022, forming a cartel involving about 677.6 billion won in contracts. Prosecutors estimate illegal gains at at least 160 billion won. GIS is a key device used at power plants and substations to cut excessive current and protect electrical facilities. Prosecutors say major suppliers, including the four companies, controlled about 90% of the market and divided up orders over an extended period. The companies deny collusion and argue the indictment does not specify the alleged agreements in sufficient detail. A lawyer for Hyosung Heavy Industries said prosecutors claim there was an overarching agreement but have not identified when or how it was reached. In a bid-rigging case, the lawyer said, prosecutors must specify who communicated in each tender and how winners were decided. The lawyer also said the indictment includes tenders Hyosung did not participate in, arguing it is hard to accept treating nonparticipation — due to production issues or sanctions — as part of collusion. Other companies likewise said they submitted bids normally based on their own standards and judgment and did not preselect winners or prices. Prosecutors countered that the case was brought to cover an overall collusive structure under the Fair Trade Act and involves dominant firms restricting competition for years. Prosecutors also said they found indications of defendants reversing statements after acknowledging collusion and argued there remains a risk of evidence destruction. At the bail hearings, defense lawyers for detained defendants said the case is expected to take a long time, the defendants have fixed residences, and most objective evidence has already been secured, asking that they be tried without detention. Prosecutors opposed bail, citing the scale and seriousness of the alleged conduct and arguing the risk of evidence destruction remains, including because defendants are responding jointly through the same lawyers. Some defendants also raised questions about the legality of the investigation. Iljin Electric said materials covered by attorney-client privilege were included in searches and seizures and said it would challenge their admissibility. The Fair Trade Commission last year ordered corrective measures and imposed a total of 39.1 billion won in fines on 10 companies, including Hyosung Heavy Industries, HD Hyundai Electric, LS Electric and Iljin Electric. Six of the companies were referred to prosecutors. An administrative lawsuit over the FTC’s measures is also pending at the Seoul High Court. How the criminal court defines the scope of collusion and each defendant’s involvement is expected to affect related civil and administrative cases. 2026-05-06 15:15:18

2 Killed, 3 Wounded in Shootings in Texas Koreatown; Police Cite Business Dispute Two people were killed and three others wounded in shootings in a Koreatown area near Dallas, Texas, authorities said. The Associated Press and Fox 4 reported that the shootings occurred May 5 (local time) at a shopping center in Koreatown in Carrollton, north of Dallas, and at a nearby apartment complex. Police said gunfire was reported about 10 a.m. near K-Town Plaza. When officers arrived, four adults had been shot. One man was pronounced dead, and two men and a woman were taken with injuries, the reports said. As investigators worked the scene, police received another shooting call at an apartment complex about 6 kilometers away. Officers found a man dead inside an apartment. Police identified the suspect as Han Seung-ho, 69, who operated a Japanese restaurant at K-Town Plaza. Police did not release his nationality or race, but he is believed to be Korean. Han fled after the shootings but was arrested near a grocery store, police said. During questioning, he admitted he was the shooter and said he was angry at the victims over a financial dispute tied to a business deal, according to police. Carrollton Police Chief Roberto Arredondo said investigators do not believe it was a random attack. "It was a known business relationship," he said. "We are still trying to determine what triggered his actions." The victims have not been identified. After the shooting, police and FBI agents responded to the K-Town Plaza area to collect evidence. Woo Sung-chul, president of the Dallas Korean Association, told Fox 4 he knew some of the victims. "They were all immigrants who came here and worked hard for their families," he said. Carrollton is a city of about 130,000 people about 32 kilometers north of Dallas. More than 4,000 residents are of Korean descent, according to the U.S. Census Bureau.* This article has been translated by AI. 2026-05-06 15:13:01

International Contractors Association Names Kim Dae-sik Executive Vice Chairman The International Contractors Association of Korea said Tuesday it appointed Kim Dae-sik, who has served as South Korea’s ambassador to Oman, as its new full-time executive vice chairman and held an inauguration ceremony. In his inaugural remarks, Kim said he would use his diplomatic experience and network to become a “field-oriented vice chairman” who supports Korean companies in expanding overseas orders. He also said he would focus all efforts on widening the construction industry’s reach in overseas markets. Kim entered public service in 1983 after passing the 17th foreign service exam. He has served as ambassador to Oman and ambassador to Kazakhstan, and as head of the Jeonbuk International Cooperation Promotion Agency. The association said he is regarded as an expert in external cooperation and international relations. Kim’s term is set for two years and will expire on April 30, 2029. The association is a specialized institution established under the Overseas Construction Promotion Act to support overseas construction. It assists the construction and engineering industries with overseas expansion, information collection and analysis, policy proposals, order support through consultations and consulting, and training of specialized personnel. An association official said Kim’s broad diplomatic expertise, built through ambassadorial posts in multiple countries, is expected to help external cooperation related to overseas construction and improve international relations. * This article has been translated by AI. 2026-05-06 15:08:55

People Power Party rallies behind Yang Hyang-ja in Gyeonggi governor race South Korea’s People Power Party on May 6 pledged to unite behind its Gyeonggi Province governor candidate, Yang Hyang-ja, as it seeks victory in the June 3 local elections. Party leaders urged voters to use the election to hold the government and ruling party to account. Speaking at a “victory rally” at the party’s Gyeonggi headquarters in Suwon, party leader Jang Dong-hyuk criticized the Democratic Party for nominating Chu Mi-ae, saying the party had put forward what he called the “queen of destruction” who, he said, followed President Lee Jae-myung in dismantling the prosecution and undermining the judiciary. Jang said that if Chu wins, she would “ruin Gyeonggi Province” under pressure from Lee’s hard-line supporters, often referred to as “gae-ttal.” Jang also cited a special counsel bill introduced by the Democratic Party on April 30 — titled the “Special Counsel Act to uncover the truth behind allegations of manipulated investigations and indictments by the Yoon Suk Yeol administration.” He said that if an indictment is unfair, it should be addressed through a trial and an acquittal. He called the local elections a vote to judge what he described as the Democratic Party and its leader, Lee. Jang said Yang is the right person to lead what he called “the heart of Korea’s economy,” describing her as an “economy governor.” He said People Power Party candidates would build a Gyeonggi Province where advanced industries bring in money, keep it circulating and improve the lives of future generations. Floor leader Song Eon-seok also framed the vote as a choice between allowing “dictatorship” to stand or checking it. He said the party must stop the Lee administration in Gyeonggi Province, which he called the place where Lee’s “crimes” began. Song urged support for Yang, calling her a qualified candidate who understands the economy and can protect semiconductor plants. Gyeonggi Province is often seen as a key battleground, but the People Power Party finalized its governor nominee later than other races. Yang won the party primary on May 2, just 32 days before the local elections. Party leaders appeared to move quickly to Gyeonggi after the nomination was settled. Speakers at the rally repeatedly stressed the need for unity. Yang said voters do not care about political camps or factions, but want hope that tomorrow will be better than today. “We have no freedom to split, and no right to lose,” she said. After the event, senior spokesperson Park Sung-hoon told reporters the party’s basic duty in the local elections is to show it is not divided. He said internal conflict should not “taint” the party, and vowed to campaign as “one team” to win. The party said its central election committee lineup is expected to be finalized and announced within this week. Park said it would be organized to provide as much help as possible to candidates campaigning under difficult conditions.* This article has been translated by AI. 2026-05-06 15:07:57

Judge in former first lady's corruption case found dead in Seoul SEOUL, May 6 (AJP) - The presiding judge of the Seoul High Court who oversaw the appeals trial on corruption charges involving former first lady Kim Keon Hee was found dead on Tuesday, according to legal officials. Police found judge Shin Jong-oh's body at around 1 a.m. near the court compound in southern Seoul, after receiving a report from his family that they had been unable to reach him about an hour earlier. The 55-year-old was taken to a hospital, where he was pronounced dead. Police, who are investigating the exact cause of his death, believe Shin jumped, as no foul play is suspected and a suicide note was also found at the scene. His handwritten message reportedly included an apology but made no mention of Kim's case or any trial-related matters. The Seoul High Court, presided over by Shin, sentenced Kim last week to four years in prison on multiple charges including accepting luxury handbags and jewelry in return for favors, as well as involvement in stock manipulation. The sentence was much harsher than the 20-month prison term handed down at the first trial. Shin, a graduate of Seoul National University, passed the bar exam in 1995 and served at courts nationwide including in Daegu, Uijeongbu and Ulsan. 2026-05-06 15:07:04

Shipbuilding Quality Manager Lee Yoo-beom Wins Gold Tower Order of Industrial Service Lee Yoo-beom, quality management director at Jiseung ENG, a partner company of HD Hyundai Heavy Industries, received the Gold Tower Order of Industrial Service, the top honor in the government’s Labor Day awards, for nearly five decades of work in shipbuilding focused on quality innovation and passing on skills. The Ministry of Employment and Labor said it held the 2026 Labor Day Government Awards Ceremony on Tuesday at Luna Miele in Seoul’s Yeouido district, presenting medals, commendations and citations to 210 people recognized for contributions to industrial sites and the labor community. The annual awards honor workers and union officials for dedicated service in the field. The ministry said this year’s program was the first since the official name “Workers’ Day” was restored to “Labor Day.” A total of 210 awards were presented: one Gold Tower Order of Industrial Service; 17 orders including the Silver, Bronze, Iron and Stone towers; 17 Industrial Service Medals; 53 presidential commendations; 57 prime minister’s commendations; and 66 ministerial commendations. The Gold Tower award went to Lee. The ministry said he joined Hyundai Heavy Industries in 1978 and was credited with helping build production systems in the marine engine sector and improving quality and safety to raise productivity. It also cited his continued work at partner companies after mandatory retirement, including training and developing talent. Silver Tower awards went to Kang Seok-yoon, standing vice chairman of the Federation of Korean Trade Unions, and Choi Mi-ra, chair of the Soonchunhyang Medical Center Labor Union. The ministry said Kang was recognized for participating in efforts to revise labor union laws and develop field-focused policies. Choi was cited for advancing workers’ rights and workplace-centered welfare, including reaching wage and collective bargaining agreements without strikes for 25 years, creating a sleep leave system for three-shift workers, and expanding paid sick leave. Also receiving the Silver Tower, Lee Tong-muk, a principal engineer at Kia Autoland Hwaseong, was recognized for more than 30 years of technical innovation and on-site improvements in press die processes that helped improve quality and productivity. The ministry said this year’s awards also sought out “hidden contributors” who had been less represented in past honors, including labor providers and freelancers, and women and workers with disabilities. Yeom Jeong-yeol, head of the Broadcasting Writers Branch of the National Union of Mediaworkers, received the Iron Tower Order of Industrial Service for efforts to improve working conditions for broadcast writers and institutionalize collective bargaining. Lee Jun-hwan, secretary general of the social cooperative Sarang-gwa-Saram, received the Stone Tower Order of Industrial Service; the ministry cited his 21 years of work in vocational rehabilitation and welfare for people with physical disabilities, despite having a physical disability himself. Labor Minister Kim Young-hoon said the ministry would “change first and take the lead” to build a South Korea where labor is respected, workers are treated properly, and everyone who works hard can shine. * This article has been translated by AI. 2026-05-06 15:06:59

Vietnam Sends Seasonal Farm Workers to South Korea as Mandatory Insurance Rules Tighten Vietnam’s Dong Thap Province, Can Tho city and Dak Lak Province have been sending seasonal workers to South Korea in a steady stream, with the workers headed to agricultural jobs for months-long stints. Many are also expected to return with experience in more advanced farming techniques. Vietnamese media including VnExpress reported that on May 5, the Dong Thap Employment Service Center held a send-off for 206 workers departing for South Korea. The group is to travel to Yeoncheon in Gyeonggi province and Cheorwon in Gangwon province, where they are expected to work in agriculture for about eight months. Nguyen Phu Hieu, director of the Dong Thap Employment Service Center, said sending workers abroad is “not simply to address unemployment,” calling it a key strategy for local social and economic development. “Workers who return from overseas bring back not only capital, but also valuable knowledge, workplace discipline and vocational skills,” he said. Nguyen said the province plans to expand seasonal work placements to new markets such as Germany and Russia. He urged local authorities to provide careful support to families of departing workers, and repeatedly told workers to comply strictly with host-country laws and contract terms to avoid violations. Officials from the employment service center and provincial people’s committees handed out gifts and took commemorative photos at the event. Earlier, on March 26, the Can Tho Employment Service Center held a departure ceremony for 76 workers bound for Cheorwon. The workers, recognized for diligence and prior work experience, passed a direct selection process by South Korea and are expected to work there for eight months. On April 30, 20 seasonal workers who entered South Korea from Dak Lak attended a welcome event at the Gyeongsan Agricultural Technology Center. After completing required training, they were to be assigned to farms starting May 6. Seasonal foreign workers must enroll in three mandatory insurance plans South Korea is also revising rules aimed at improving working conditions for foreign workers. Since Feb. 15, seasonal workers on E-8 visas have been required to enroll in three mandatory insurance plans: accident insurance, wage arrears guarantee insurance and farmers and fishers safety insurance. Accident insurance must be purchased by the worker. According to an official notice the Vietnamese Ministry of Home Affairs sent to provincial and municipal people’s committees, workers must complete enrollment within 15 days of arrival to ensure coverage for medical costs arising from accidents or illness during their stay in South Korea. Violations can draw fines of up to 5 million won. Minimum coverage requirements are specified: at least 30 million won for accidental death and injury; at least 15 million won for death or injury due to illness; and at least 10 million won for actual medical expenses. Workers may buy travel insurance in Vietnam in advance or enroll in products offered by private insurers after arriving in South Korea. Premiums for seasonal workers run about 20,000 won per month. Employers must enroll in the wage arrears guarantee insurance and the farmers and fishers safety insurance. The wage arrears policy provides compensation of up to 4 million won per seasonal worker if wages are not paid on time. The safety insurance provides benefits including 120 million won in death benefits, 10 million won for funeral costs and up to 50 million won in medical expenses. The Ministry of Agriculture, Food and Rural Affairs said it will allow a one-year guidance period. The measures come as South Korea’s rural areas rely more heavily on foreign labor. Statistics cited in the report said the number of foreign workers in agriculture is expected to rise from about 20,000 in 2020 to more than 100,000 in 2025 due to aging. From 2020 to 2024, the average industrial accident rate in agriculture was 0.78%, similar to manufacturing at 0.79%, but the average death rate per 10,000 workers was higher than in manufacturing.* This article has been translated by AI. 2026-05-06 15:03:45

Corruption probe indicts sitting chief judge accused of taking bribes from lawyer The Corruption Investigation Office for High-ranking Officials said it has indicted a sitting chief judge accused of taking tens of millions of won in bribes from a lawyer who was a high school alumnus and providing favors tied to trials. The agency’s Investigation Division 2, led by Chief Prosecutor Kim Su-hwan, said Tuesday it indicted Chief Judge Kim, identified only by his surname, and attorney Jeong on charges including bribery under the Act on the Aggravated Punishment of Specific Crimes and giving bribes. Both were indicted without detention. The agency said Kim, who served as presiding judge of criminal appeals at the Jeonju District Court from 2023 to 2025, is suspected of receiving about 33 million won in money and valuables in return for reducing sentences in cases handled by Jeong, a senior alumnus from the same high school. Investigators said Kim handled 21 appeals cases taken by Jeong’s law firm and reduced sentences in 17 of them. They said that in six cases decided after March 2024 — when the alleged bribes were received — Kim also overturned the lower-court rulings. In one case, a defendant caught repeatedly driving drunk while on probation had a five-month prison sentence reduced on appeal to a 5 million won fine, the agency said. In another, a defendant involved in operating an illegal sports gambling site received a suspended sentence after getting a prison term in the lower court. The agency also said Kim received additional benefits, including the free use for one year of a commercial space intended for his spouse’s violin lessons, and had Jeong cover costs for soundproofing and other construction for the lessons. Investigators said they also found an additional 3 million won bribe provided in the form of items such as boxes of nuts. The agency said it confirmed through recorded visitation audio and other materials that word of the alleged arrangement spread inside and outside prisons, leading to a surge of case requests to Jeong’s law firm. The agency said it sought to indict the two in March, but the court rejected the request, citing insufficient explanation regarding the alleged bribe-giving. It later proceeded with indictments without detention. A CIO official said the agency uncovered evidence that a sitting chief judge took bribes from a defense lawyer in cases he was handling, using the trials as the channel. The official said the agency would continue to deal strictly, under law and principle, with corruption that undermines trust in the judiciary. Kim’s side denied any quid pro quo. In a statement, Kim’s attorneys criticized the agency for announcing the indictment, saying the court had found the allegations insufficient during the warrant review process and that the agency indicted him without additional investigation and with claims they said were not true. They said Kim had cooperated with the investigation and that the allegations of receiving money and a quid pro quo were all false. They said he received no benefit related to the commercial space, and that the 3 million won was lesson fees paid to his spouse for 31 violin lessons provided to the lawyer’s child. They said there was “absolutely” no trial deal. They said Kim would fully participate in the court process to establish the truth and urged that unnecessary misunderstandings not spread. 2026-05-06 15:02:09

BC Card Launches May ‘My Tag’ Discounts on Baseball Tickets, Dining and Retail BC Card said Tuesday it is running a May “My Tag” promotion for Family Month. My Tag is a discount service on Paybooc, a personal finance platform, that lets users choose an offer and receive a discount when paying with a BC personal credit or debit card. The event runs through May 31 and is open to customers with cards issued by BC Card member companies, including Woori Card, Hana Card, NH NongHyup Card, IBK Industrial Bank of Korea, KB Kookmin Card, iM Bank, BNK Busan Bank, BNK Kyongnam Bank, Shinhan Card, Sh Suhyup Bank, Gwangju Bank and BC Baro Card. Users must tag the offer in the Paybooc app before payment for the discount to apply. BC Card said the promotion provides additional discounts on top of existing card benefits, with no separate performance requirement. It added that heavy traffic around midnight at the start of each month—when benefits change and many users log in to tag offers—has at times caused delays or waiting in the Paybooc app. Key offers include a 2,000 won discount plus an additional 1,000 won off KT Wiz home-game tickets when paying 10,000 won or more. Outback Steakhouse and VIPS offer 5,000 won off purchases of 100,000 won or more, while Ediya Coffee offers 1,000 won off purchases of 10,000 won or more. Olive Young provides 2,000 won off purchases of 50,000 won or more, and Daiso offers 300 won off purchases of 10,000 won or more once a day, up to three times. 2026-05-06 14:57:13

Korea to Sell Public Growth Fund With Tax Breaks and Loss Backstop, Testing Policy-Fund Model A public-participation National Growth Fund, promoted with what officials call unprecedented tax and loss-support benefits, will go on full sale later this month. The fund is designed to address shortcomings of the earlier New Deal fund and strengthen incentives, but its success will hinge on whether it draws real inflows and delivers results. The Financial Services Commission said on the 6th that the Public Participation Growth Fund will be sold for three weeks, from the 22nd through the 11th of next month, through branches and online channels of 25 banks and securities firms. Total sales to individuals will be 600 billion won, offered on a first-come, first-served basis until the allocation is exhausted. The annual subscription cap is 100 million won per person. Minimum subscriptions vary by seller, ranging from 0 to 1 million won. Investors should be cautious because early redemption is not allowed during the five-year term. Tax support is the fund’s biggest draw. Investors can claim income deductions up to 18 million won: a 40% deduction rate on investments up to 30 million won, 20% on amounts over 30 million won up to 50 million won, and 10% on amounts over 50 million won up to 70 million won. Dividend income is separately taxed at 9% if the investment is held for five years. The main investment targets are companies in advanced strategic industries — including semiconductors, future vehicles and artificial intelligence — and related firms. Ten sub-fund managers operating under the National Growth Fund must invest at least 60% of their committed capital in those areas. The remaining 40% may be invested at the managers’ discretion. The fund aims to channel private money into future growth industries, but critics warn it could repeat the familiar limits of policy funds, given that similar products in the past fell short of expectations. As an example, the average annual return for the general public on the New Deal fund launched in 2021 under the Moon Jae-in government was 2.37%, roughly in line with bank deposit rates. That figure reflected the government budget taking losses first; excluding fiscal funds, the average return of 10 sub-funds was just 0.75%. The structure that ties up money for years is also similar. The New Deal fund had a four-year maturity, while the National Growth Fund has a five-year term and bars redemptions. If an investor transfers the holding within three years, an amount equivalent to the tax benefit will be clawed back. Some also question whether the fund’s target return — 30% cumulatively over five years — will look compelling given the KOSPI’s 56.6% rise over the past four months. With the KOSPI topping 7,300 on the day, some analysts said investors may worry about buying in near a peak. Na Hye-young, director of the FSC’s Public and Regional Participation Support Division, said the government sought to improve on the New Deal fund by diversifying sub-fund strategies and methods. “Within a 20% range, fiscal funds will take losses first for each sub-fund, and tax benefits are provided, which has the effect of increasing investors’ net returns,” she said. 2026-05-06 14:54:15