Hanwha Aerospace raises KAI stake above 5%, shifts to management participation
Hanwha Aerospace said in a regulatory filing on the 4th that it bought additional shares of Korea Aerospace Industries (KAI), changing its stated holding purpose from a “simple investment” to “management participation.” According to the filing, Hanwha Aerospace acquired an additional 100,000 KAI shares, or 0.1%, lifting its combined stake including affiliates to 5.09%. With the stake now above 5%, the company changed the purpose of its holding to management participation. It said specific plans are under review.
Hanwha Aerospace said it plans to invest a total of 500 billion won by the end of this year to buy more KAI shares. Based on the April 30 closing price of 169,000 won, its stake in Korea Aerospace Industries would rise to 6.4% after the planned purchases.
Apgujeong District 5 rebuild nears contractor vote, Hyundai E&C vs. DL E&C
Competition is intensifying between Hyundai Engineering & Construction and DL E&C as the selection of a builder for Apgujeong District 5, one of Seoul’s most contested redevelopment projects, approaches.Industry officials said on the 4th that the contractor will be decided at a union members’ general meeting on the 30th. The project rebuilds the Hanyang 1st and 2nd apartment complexes near 490 Apgujeong-dong, Gangnam-gu, into eight buildings ranging from five basement levels to up to 60 stories above ground, totaling 1,397 households. Total project costs are estimated at about 1.5 trillion won.
Hyundai E&C is seen by some as having an edge due to the “Apgujeong Hyundai” brand symbolism, while DL E&C is countering with financing terms and changes to the project structure.
DL E&C proposed construction costs of 11.39 million won per pyeong (3.3 square meters), more than 1 million won lower than the union’s expected cost estimate. The company said it is focusing on structurally limiting the risk of rising construction costs, not just price competition.
Five automakers sell 666,248 vehicles in April, down 3.3% on Middle East risks
Uncertainty in export markets tied to the war in the Middle East contributed to mixed results for South Korea’s five automakers in April. Hyundai Motor and Renault Korea posted year-on-year declines amid a lack of new models and weaker exports, while Kia, KG Mobility (KGM) and GM Korea reported growth on steady demand for popular models and more diversified export markets.Industry data released on the 4th showed combined global sales by Hyundai Motor, Kia, KGM, GM Korea and Renault Korea totaled 666,248 vehicles in April, down 3.3% from a year earlier. Domestic sales fell 8.8% to 117,314 vehicles, while overseas sales slipped 2.1% to 548,483.
Samsung Electronics union rift widens as Donghaeng union quits joint bargaining group
A split among labor unions at Samsung Electronics became official after a union based in the company’s Device eXperience (DX) division decided to leave a joint struggle headquarters.Samsung Electronics Labor Union Donghaeng said on the 4th it issued a formal statement notifying the National Samsung Electronics Labor Union and the Samsung Electronics branch of a cross-company union that the “2026 wage negotiation joint bargaining group” would end.
Donghaeng cited serious conflict between unions and a breakdown in mutual trust as the decisive reason for withdrawing.
In its statement, Donghaeng said, “Even when our union proposed and requested agenda items for the rights and interests of all members, not just members in a specific area, your unions (the cross-company union and the National Samsung Electronics Labor Union) have not responded to date.” It added that the other unions “did not even show an intention to consult,” leaving Donghaeng’s views “not reflected at all” in matters affecting all members.
OTT battle for No. 2 intensifies as Coupang Play gains on HBO new releases
The user gap between Tving and Coupang Play widened again in April in South Korea’s online video streaming market.Mobile Index data released on the 4th showed monthly active users (MAU) of 7,708,645 for Tving and 9,101,593 for Coupang Play, a difference of about 1.39 million users. Tving fell 3.95% from the previous month, while Coupang Play rose 0.61%.
Among major services, Netflix fell 7.02% to 14,799,836 MAU, while Wavve rose 1.27% to 3,897,570. Disney+ saw its MAU rise by nearly 1 million in February due to a compensation program for customers affected by a KT hacking incident, but in April it fell 8.31% from the previous month to 3,462,195.
Big five banks’ mortgage balances post biggest rise in eight months
Mortgage loan balances at major commercial banks rose by the most in eight months, driven largely by policy-backed lending such as jeonse deposit loans and Didimdol loans, analysts said.Financial industry data released on the 4th showed mortgage balances at KB Kookmin, Shinhan, Hana, Woori and NH NongHyup banks totaled 612.2443 trillion won at the end of April, up 1.9104 trillion won from the end of March. It marked the biggest monthly increase since August last year, when balances rose 3.7012 trillion won.
Overall household lending also increased. The five banks’ household loan balances totaled 767.2960 trillion won at the end of April, up 1.5670 trillion won from the end of March. It was the largest increase since October last year, when balances rose 2.5270 trillion won.
Choo Kyung-ho and Lee Cheol-woo visit Park Geun-hye, call to protect conservative base
Choo Kyung-ho, the People Power Party’s candidate for Daegu mayor, and Lee Cheol-woo, the party’s candidate for North Gyeongsang governor, visited Park Geun-hye on the 4th as they campaign for the June 3 local elections. The move followed a video congratulatory message from Lee Myung-bak at the opening of Choo’s campaign office the previous day, in what appeared to be an effort to rally conservative voters. The two candidates visited Park’s residence in Dalseong County, Daegu, on Monday afternoon. They were accompanied by Rep. Lee In-seon, head of the Daegu party committee; Koo Ja-geun, head of the North Gyeongsang party committee; and lawmaker Yoo Young-ha.
After the visit, Choo told reporters, “President Park is a former president of our party and the biggest elder in conservative politics.” He added, “Since she is staying at her residence in Dalseong County, I thought it was only right to visit and pay my respects, ask after her health, and share various thoughts.”
* This article has been translated by AI.
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