Three members argued for a "hawkish" hold... calling for removal of language hinting at cuts
The U.S. Federal Reserve (Fed) left its benchmark interest rate unchanged for the third consecutive meeting amid a surge in energy prices and heightened inflation uncertainty stemming from the war with Iran. With as many as four dissenting votes emerging at this meeting, it became clear that views are diverging over the future course of monetary policy. Attention is also drawn to the appearance of "hawkish hold" voices at a time of leadership transition, as Fed Chair Jerome Powell prepares to step down. At its regular meeting on the 29th (local time), the Federal Open Market Committee (FOMC) decided to keep the federal funds rate at 3.50~2
As Poongsan Group considers relocating its Seoul headquarters to a non-capital region, the business community's efforts toward balanced regional development are entering a new phase. With Ryu Jin, chairman of Poongsan Group and head of the Korea Enterprises Federation, personally mentioning the relocation plan, the long-stagnant debate over large conglomerates moving out of the capital area is gaining new momentum. After Poongsan announced on the 30th that it was reviewing a headquarters relocation, business circles assessed that major corporations are taking more concrete steps to promote balanced regional development and expand youth employment outside the capital. Poongsan's
The KOSPI hit a new intraday record high despite external uncertainties such as a sharp rise in international oil prices and a hawkish rate hold. Expectations that the artificial intelligence (AI) investment cycle of global big tech companies will continue, coupled with Samsung Electronics posting all-time high earnings for the second consecutive quarter, drove the index higher. However, as the initial rally has somewhat lost steam, the KOSPI is currently hovering around flat levels. On the 30th, the KOSPI opened at 6739.39, up 0.72% from the previous session, and climbed as high as 6750.27 during the session before
Last month, Korea saw simultaneous increases in production, consumption, and investment for the first time in six months. Even as semiconductors lost some momentum, automobiles and shipbuilding drove production, while the launch of new smartphone models and a rise in foreign tourists supported a rebound in consumption. First-quarter production also recorded the highest growth rate in more than four years, and the fallout from the Middle East war that broke out at the end of February appears to have been limited so far. Triple rise in production, consumption, and investment after six months On the 30th, the National Data Office released its "Industrial Activity Trends for March 2026," which showed that
As first-quarter earnings from major big tech companies were released en masse on the 29th (local time), Alphabet, Google's parent company, jumped more than 6% in after-hours trading after meeting the market's heightened expectations. In contrast, Meta, Facebook's parent company, fell more than 6% despite posting better-than-expected revenue, after announcing plans to ramp up investment in artificial intelligence (AI) infrastructure, highlighting a stark divergence in market reaction. Google shares climbed 6.82% in after-hours trading On April 30 (Korea time), at around 8:20 a.m., shares of Alphabet (Class C), Google's parent company, were trading at
Artificial intelligence (AI) startup Anthropic is exploring a new funding round that would value the company at more than 900 billion dollars (about 1,339 trillion won). If the deal goes through, Anthropic's valuation would surpass the 852 billion dollars (about 1,266 trillion won) of OpenAI, the developer of ChatGPT. Bloomberg reported on the 29th (local time), citing sources, that Anthropic is considering investment proposals that would value the company at more than twice its current valuation. However, the talks are still in the early stages, and Anthropic has not yet accepted any specific offer,
The grammar of war is changing. It is now algorithms, not the sound of gunfire, that decide victory or defeat. Invisible infrared tracks targets relentlessly, while in the electromagnetic ocean where jamming and spoofing are entangled, unseen coordinates collide. Whereas wars of the past were decided by the amount of gunpowder and the thickness of armor, the future warfare now unfolding in the Middle East and Eurasia is determined by who has the faster computing chips and how uninterrupted their data flows are...
Coupang was first designated in 2021 as both a "publicly disclosed business group" and as having an "identical person (controlling owner)." At that time, the Korea Fair Trade Commission acknowledged that Kim Beomseok, chairman of Coupang Inc., clearly exercised control. Even so, citing "deficiencies in the current system for regulating foreign controlling owners" and questions over the "effectiveness of criminal sanctions," it designated the corporate entity Coupang as the controlling owner. The commission also argued that indirect oversight was possible through disclosures filed with the U.S. Securities and Exchange Commission (SEC). Three years later, however, even after foreign nationals were allowed to qualify for exceptions such as nonparticipation by relatives in management...
Seo Myungsook, who created the Jeju Olle Trail, used to live by the motto "ride if it is more than three steps" during her days as a reporter. She would even take a taxi for the 200 meters from the subway station to the front of her office. Perhaps the time spent walking felt too precious when deadlines loomed like a grim reaper. As a pioneering first-generation female political reporter, she became the first woman to serve as political editor and then editor-in-chief of a current affairs weekly magazine. Although she rose to the top of her profession, her body broke down and her heart withered like a dry branch. Burnout hit her so hard that she felt she might die if she continued as she was...
The apartment complex where CEOs of Korea's top 500 companies live the most is DH Firstier I-Park in Gaepo-dong, Gangnam-gu, Seoul. It is home to 11 heads of major domestic companies, including Samsung Electronics President Roh Tae-moon. According to a survey released on the 29th by corporate data research firm CEO Score, which examined the registered addresses of 640 CEOs of the top 500 companies listed in corporate registry documents, this complex was the multi-family housing where the largest number of CEOs resided as of April this year. Samsung Electronics President Roh Tae-moon
With relations between the United States and the United Kingdom having cooled over cooperation on strikes against Iran, U.S. President Donald Trump met with Britain's King Charles III and stressed the countries' "special relationship." King Charles III presented a replica of the design plans for the "Resolute Desk," the symbol of the Oval Office, adding symbolic weight to U.S.-UK friendship. On the 30th, Yonhap News TV reported that the previous day President Trump held a state welcome ceremony for King Charles III at the White House. This came amid tensions with the British government over military responses related to Iran, and...
Taiwan's premier has framed the low birth rate problem as a national security issue and declared that "we must raise the birth rate like South Korea." Citing local outlets such as the United Daily News and Economic Daily, Yonhap News reported on the 29th that "Premier Cho Jung-tai of Taiwan said this during an interpellation session at the Legislative Yuan (parliament) on the 28th." Taiwan has already entered a super-aged society, with 20% of its total population aged 65 or older, and last year its total fertility rate (the average number of children a woman is expected to have over her lifetime)...
Vice Prime Minister and Minister of Science and ICT Paik Kang-hoon has called for tangible results from the government's investments in artificial intelligence (AI), saying he will check how AI transformation (AX) is progressing at each ministry. He also stressed that multifaceted global cooperation is needed to drive AI-based science and technology innovation and ecosystem development. At the 8th Meeting of Ministers on Science and Technology Relations held at the Government Complex Seoul in Jongno-gu, Seoul, on the 30th, Paik said, "We must show the public the outcomes of the government's AI investment and support" and
Nexon and the Korea Fair Trade Commission (KFTC) have engaged in an intense legal battle over a 11.6 billion won fine imposed in connection with controversy over the probability of obtaining game items (cubes). Nexon argued that the fine constitutes unfair retroactive regulation, while the KFTC countered that it is a legitimate sanction for deceptive conduct toward consumers. At an administrative trial held at the Seoul High Court on the 29th seeking to overturn the KFTC's sanctions, Nexon argued, "The legality of the conduct must be judged based on the time it occurred, and at that time it was not subject to regulation," adding, "The disposition in question is based on the amended Game
Wemade announced on the 29th that it has finalized, through a settlement agreement, its dispute with China's Kingnet over unpaid royalties for the intellectual property (IP) of "The Legend of Mir 2." Under the settlement, Wemade received approximately 43 billion won (198,646,893 yuan). The dispute between Wemade and Kingnet began when Kingnet's subsidiary Zhejiang Huanyu failed to pay royalties for "Legend of Mir 2"-based game "Namwoljeonki," which it has serviced in China since 2016. Wemade prevailed in both international arbitration and court proceedings in China, securing recognition as the original copyright holder and
A total of 277 preliminary startup teams of young science and engineering talents, discovered at universities and government-funded research institutes across the country, are heading to the market to validate their laboratory technologies. The government has fully launched the "Deep Tech Startup Practical Program" to speed up the commercialization of research成果. The Ministry of Science and ICT announced that it has selected 277 teams for the 2026 Laboratory Startup Exploration Program under the "Public Technology-Based Market-Linked Startup Exploration Support Project (Tech-Core)" and will hold a kick-off ceremony on the 30th. Tech-Core is a flagship program that links research成果 from universities and government-funded research institutes to startups and
A tournament is drawing attention as it is being held at a golf course owned by U.S. President Donald Trump. The Cadillac Championship, a signature event on the PGA Tour with a total prize fund of $20 million, will take place over four days starting April 30 (local time) at the Trump National Doral Blue Monster course (par 72, 7,739 yards) in Miami, Florida, United States. Following this event, the PGA Tour will continue with another signature event, the Truist Championship, which opens on May 7, and the season's second major, the PGA Championship, set to begin on May 14. The Trump National Doral, the newly designated battleground for the Cadillac Championship, previously hosted the World Golf Championships (WGC) Cadillac Championship through 2016, and is now hosting a PGA Tour event for the first time in 10 years. In the interim, the LIV Golf event was held here from 2022 to 2025, and President Trump made several visits to the course, fueling speculation about whether he will attend t
This is negative news regarding LIV Golf. On April 28 (local time), LIV Golf, which has been the subject of rumors about a financial crisis, announced that it is in the process of postponing the New Orleans tournament in Louisiana, USA, originally scheduled for June, to the fall. In a press release sent to the Associated Press, LIV Golf stated, "We have decided to move the tournament to a new date in cooperation with the Louisiana state government," and explained, "This is to avoid the extreme heat of midsummer and to prevent a scheduling conflict with global sporting events such as the FIFA World Cup in North and Central America." LIV Golf added, "We are working to hold the tournament in the fall" and "We look forward to sharing the confirmed date in the near future." The Louisiana state government also acknowledged the postponement. Reuters reported, "Last August, the state of Louisiana agreed to pay LIV Golf 5 million dollars and to spend an additional 2.2 million dollars on improve
The total prize money for the AIG Women's Open will increase. The R&A, which organizes the tournament, and title sponsor AIG announced on April 28 (local time) that the total prize money for the AIG Women's Open has been set at $10 million (approximately 14.7 billion won). Last year, the total prize fund for the event was $9.75 million. With this increase, the AIG Women's Open now offers the third-largest prize purse among tournaments on the LPGA Tour, following the U.S. Women's Open ($12 million) and the KPMG Women's PGA Championship ($12 million). This tournament, which began under the name Women's British Open, changed its name to the AIG Women's Open in 2020 after signing a sponsorship agreement with AIG in 2019. Since then, the prize money has increased substantially. Martin Slumbers, CEO of the R&A, stated, "We will continue to invest in prize money to elevate the status of this championship on the world stage. We will also increase broadcast hours to provide the most viewing tim
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