President Son Jooseok of Korea National Oil Corporation Inspects 'Swap Supply' of Stock Oil in Geoje

Son Jooseok, President of Korea National Oil Corporation, visited the Geoje Oil Stockpile Base in South Gyeongsang Province on the 21st to inspect the current status of stock oil tanker shipments. Currently, the corporation is operating a 'swap system,' whereby strategic oil reserves are first loaned to refiners, who later repay with newly imported oil, in consideration of delays in bringing in alternative crude oil secured by refiners. On this day, crude oil shipments by sea for refiner supply were actually carried out at the Geoje Stockpile Base under this swap system. At the site, President Son closely inspected the crude oil loading and unloading facilities, underground caverns, and above-ground storage tanks, focusing on the swap process and safety management. Referring to possible logistics disruptions due to heightened tensions in the Middle East, he stressed, "We must maintain a flawless supply posture under any circumstances so that the national economy is not impacted." Presi

General

04.21 15:22

NongHyup Cooperative Heads Oppose Direct Election of Central President by Members: "Sufficient Public Discussion Needed"

Heads of agricultural cooperatives and farmers from across the country held a rally in Yeouido to oppose the government's proposed amendments to the Agricultural Cooperatives Act. They demanded the withdrawal of the plan to establish an external independent audit body and called for an end to attempts to change the direct election system for the president of the central association by cooperative members. The Emergency Response Committee for the Amendments to the Agricultural Cooperatives Act announced that it held the "Farmers' Resolution Rally to Defend the Autonomy of NongHyup" in Yeouido on the 21st, with the participation of approximately 20,000 heads of agricultural cooperatives and farmers nationwide. The cooperative heads and farmers who attended the rally adopted a resolution containing five demands regarding the government's proposed amendments to the Agricultural Cooperatives Act: an immediate halt to governmental control that infringes on the autonomy of NongHyup; the remo

General

04.21 14:19

The Era of 1 Million EVs Begins... Adoption Accelerates

Driven by the trend of high oil prices originating from the Middle East and the expansion of government subsidies, the cumulative number of registered electric vehicles (EVs) in South Korea has surpassed 1 million. This milestone is seen as a sign that the domestic EV market has entered a full-fledged phase of popularization. On April 21, the Ministry of Climate and Environment announced that the cumulative number of registered EVs in the country had exceeded 1 million. As of the end of March, registrations stood at 981,321, but with rapid growth in new EV adoption, the figure surpassed 1 million as of April 15. The speed of EV adoption has also accelerated significantly compared to previous years. As of the third week of April this year, more than 100,000 new EVs had been registered, reaching this milestone about three months earlier than in 2025, which previously held the record for the largest annual EV adoption. In comparison, the 100,000 mark was reached in the second week of July

General

04.21 13:53

Gasoline Prices: Korea at 2,000 Won, Japan at 1,500 Won... "Korea Not Excessively Suppressing"

As international oil prices are soaring due to the prolonged war in the Middle East, petroleum product prices in Korea have remained relatively high compared to Japan and the United States. In particular, while the price of gasoline in Korea has surpassed 2,000 won per liter, Japan has maintained much lower prices in the 1,500 won range, thanks to government subsidies. This highlights a clear gap in prices due to policy differences. According to the Ministry of Trade, Industry and Energy on April 21, domestic gasoline prices stood at 2,003.17 won per liter and diesel at 1,996.76 won per liter as of that day. This represents an increase of 18.4 percent and 25.0 percent, respectively, compared to February 27, before the war began. In contrast, as of April 19, gasoline prices in Japan were recorded at 1,527 won per liter and diesel at 1,432 won. These figures are 23.8 percent and 28.3 percent lower than those in Korea, respectively. The rates of increase compared to February 27, prior to

General

04.21 13:38

Wela Launches Special Event with Writers Association of Korea for World Book Day

Integrated reading platform Wela is launching a special event in collaboration with the Writers Association of Korea to mark the international observance of World Book Day. This event has been designed to curate notable passages from works by authors affiliated with the Writers Association of Korea. Notably, works by literary master Cho Jungrae and Kwon Yeo-sun, as well as Choi Jinyoung and Park Sangyoung?writers who are leading the current of contemporary Korean fiction?will be introduced. In addition, a total of nine authors, including Choi Eunyoung, Jin Eunyoung, Kim Sunwoo, Bae Jiyoung, and Park Yeonjun, will have their works featured on Wela. The event will run for approximately two weeks, from April 20 to May 3. During this period, users who completely read or listen to at least one featured work on Wela will be entered into a prize drawing. Winners will receive randomly selected books, packaged as "blind books," featuring works by authors from the Writers Association of Korea. T

General

04.21 13:15

Domestic Banks to Raise Household Loan Thresholds in Q2... Lending Standards to Tighten

Domestic banks are expected to raise the bar for household loans in the second quarter of this year. Non-bank financial institutions are also likely to tighten their lending stance across all sectors. According to the results of the "Financial Institution Lending Attitude Survey" conducted by the Bank of Korea among credit officers at financial institutions, released on April 21, 2026, domestic banks are expected to strengthen their lending standards, particularly for household loans, in the second quarter of this year. The overall lending attitude index for domestic banks in the second quarter is -4, which is stricter than the -1 recorded in the first quarter. The index has remained negative for five consecutive quarters since the second quarter of last year. The household mortgage lending attitude index dropped from -6 in the first quarter to -8 in the second quarter, indicating a stronger tightening. A negative index means that more financial institutions expect to tighten their le

General

04.21 12:00

Public Fund Recovery Rate Reaches 72.6%...161 Billion Won Recovered in Q1 from Seoul Guarantee Share Sale

The public fund recovery rate for the first quarter of this year reached a cumulative 72.6%. These public funds were established to address the restructuring of insolvent financial institutions during the 1997 International Monetary Fund (IMF) foreign exchange crisis. According to the “Status of Public Fund Operations for the First Quarter of 2026” released by the Financial Services Commission on April 21, the government and related entities injected a total of 168.7 trillion won from November 1997 to the end of 2025, of which 122.4 trillion won, or 72.6%, has been recovered. The cumulative recovery rate rose by 0.1 percentage point compared to the end of last year. The amount recovered in the first quarter of this year was 161 billion won. This figure reflects the proceeds from the after-hours block sale of 3 million shares of Seoul Guarantee Insurance, out of the 58.55 million shares held by the Deposit Insurance Fund Bond Repayment Fund. A Financial Services Commission official stat

General

04.21 12:00

Government and Major Corporations Join Forces to Foster Youth... Launching the "K-New Deal Academy"

The government and large corporations are set to collaborate on the “K-New Deal Academy,” a project that will provide youth-oriented, customized job training programs. On April 21, the Ministry of Trade, Industry and Energy and the Ministry of Employment and Labor announced that, in cooperation with the Korea Research Institute for Vocational Education and Training, they will begin accepting applications for operating support organizations and companies participating in the “K-New Deal Academy” project?which aims to strengthen job-seeking capabilities among young people?from April 22 to May 22. The “K-New Deal Academy” is a project led by major corporations and key industry players, who will design and operate company-specific job training programs and various initiatives. The goal is to support young people in entering the labor market smoothly. This initiative is being newly launched through an additional supplementary budget. Eligible companies include large corporations as well as

General

04.21 12:00

Midas Happiness Foundation and World Vision to Support Self-Reliance in Impoverished Vietnamese Region for Five Years

President Son Jooseok of Korea National Oil Corporation Inspects 'Swap Supply' of Stock Oil in Geoje

NongHyup Cooperative Heads Oppose Direct Election of Central President by Members: "Sufficient Public Discussion Needed"

The Era of 1 Million EVs Begins... Adoption Accelerates

Gasoline Prices: Korea at 2,000 Won, Japan at 1,500 Won... "Korea Not Excessively Suppressing"

Wela Launches Special Event with Writers Association of Korea for World Book Day

Domestic Banks to Raise Household Loan Thresholds in Q2... Lending Standards to Tighten

Public Fund Recovery Rate Reaches 72.6%...161 Billion Won Recovered in Q1 from Seoul Guarantee Share Sale

Government and Major Corporations Join Forces to Foster Youth... Launching the "K-New Deal Academy"

Special Coverage

In the News