Stories from Seoul · South Korea

Hyundai CEO Jose Munoz announced a commitment to invest $26 billion in the United States over the next four years. This follows a previous investment of $20.4 billion made during the last four-year period. The automaker currently builds approximately 50% of its US vehicle volume domestically. The remaining half is imported at a 15% tariff rate. The company is reportedly focusing on expanding its premium vehicle segment in the US market. Currently, approximately 50% of Hyundai vehicles sold in the U.S. The move is intended to protect profit margins against uneven electric vehicle demand and tariff costs. The automaker is currently expanding its presence by pushing the premium Genesis brand, hybrids, and SUVs. Domestic production is being utilized to mitigate the 15% tariff rate applied to imported models.

The arrival of spring brings the return of sneezing, coughing, and itching symptoms for many allergy sufferers. Experts advise consulting a doctor if unsure about allergy triggers to manage symptoms effectively.

Samsung legal aide Kim Yong-chul allegedly instructed employees to destroy evidence to protect company leaders. Deleting files is being treated as the priority action. These instructions were detailed in a book regarding time spent at Samsung and subsequent expert interviews. Instructions to employees included downloading documents to hide them or deleting all computer files if time was limited to prevent discovery. Shareholders protested against stock purchases made at generous prices that allegedly protected JY Lee at the expense of the company. Critics argued these moves allowed Lee to benefit from family wealth while undermining his ability to succeed his father. This action follows controversy regarding Samsung companies using corporate funds to purchase failing shares of JY Lee to prevent his personal financial loss.

Government auditors have launched an investigation into Samsung's financial records. Lee may be unfairly supporting his son's business interests. This crackdown follows recent financial instability in South Korea. The audit aims to verify the accuracy of the conglomerate's books. Auditors have begun an investigation into Samsung, though staff reportedly requested identification and search permissions upon their arrival. An insider claims the audit process is being obstructed, a charge Samsung has consistently denied. Auditors have begun investigating whether top legal aide Kim Yong-chul obstructed the Fair Trade Commission. This development follows ongoing scrutiny of the company's leadership and internal practices. A former Samsung official, Kim, has detailed a three-step tactic used to protect leadership during investigations.

Samsung Chairman Lee Jae-yong's father, K. The use of company resources for this purpose has become a central point of regulatory controversy. The investigation has taken a twist as regulators are now specifically targeting JY Lee. The probe follows the collapse of the E-Samsung online commerce platform with $20 million in losses. The investigation concluded that while Samsung subsidiaries purchased his shares, there was no evidence the actions were taken solely to shield him. A Samsung spokesperson stated that all shareholders' shares were purchased on the same terms when the company was closed. Lee's situation may have been due to bad timing and that Samsung was not the only victim of the dot-com crash. While Lee was the chief shareholder on paper, he did not hold an executive position as CEO of eSamsung.

Young workers and students in Seoul are increasingly using the Gyojimap savings map application to manage rising living costs. Average meal prices in the South Korean capital have exceeded 11,000 won. The app helps users locate affordable dining options priced around 7,000 won. This trend follows inflationary pressure on daily expenditures in the city. New initiatives are helping consumers manage costs and small businesses maintain operations during ongoing inflation challenges. Under this program, if a participant saves 100,000 won per month, the government provides a matching contribution of 300,000 won per month. The initiative aims to provide financial support for the future of the nation's youth. The South Korean government announced that applications for the Youth Tomorrow Savings Account will be accepted from May 4 to May 20.

South Korea is implementing a welfare payment program with a total budget of 6.1 trillion won. The first round of payments begins tomorrow, prioritizing vulnerable groups such as basic livelihood security recipients who will receive 550,000 won and single-parent families receiving 450,000 won. Residents in non-metropolitan or population-declining areas are eligible for an additional 50,000 won per person. Applications are open until May 8, with a weekday-based application system applied during the first week based on the last digit of the recipient's birth year. President Lee ordered a crackdown on market speculation and the rapid execution of a 100 billion won market stabilization program.

V, a member of the South Korean group BTS, has released a new ballad titled 'Mama, I am coming home.' The song is noted for its warm and sincere tone, contrasting with his 'Prince of Darkness' nickname.

TBS eFM Seoul provided practical tips for managing spring allergies. Key advice includes avoiding outdoor activities between dawn and 10 AM when pollen levels are highest, washing hands and rinsing nostrils with saline water after being outside, and consulting a doctor if allergy triggers are unclear. The segment aimed to help listeners welcome spring with a smile.

Special counsel Cho Eun-suk is seeking a 30-year prison sentence for former President Yoon on charges of general treason. The court also stated that filming conducted by prosecutors during the warrant execution was not unlawful. The initial first-instance sentence was five years, but the appellate court increased the term by two years. The ruling said the importance of cooperation for the future of the nation and its citizens. The case is being heard separately from the main insurrection trial. Charges include infringing on the deliberation rights of cabinet members during a cabinet meeting and obstructing the Corruption Investigation Office from making arrests during security mobilization. The charges stem from an emergency martial law decree issued on the night of December 3, 2024, which was alleged to violate insurrection laws.