The Minute to Read (Weekdays) series provides a quick overview of significant events in Korea everyday, conveniently condensed into a one-minute read. Here’s a recap of what happened yesterday: Apr. 30.

More than six in 10 of South Korea’s top companies are heavily reliant on debt, with some showing extreme financial strain, new data shows. /Yonhap News

Over 60% of S. Korea’s top companies have debt exceeding assets

More than 60% of South Korea’s top 500 non-financial companies have debt ratios exceeding 100%, with Hyosung Chemical the only firm facing complete capital erosion, according to CEO Score. Five companies, including Han Sung Motor and T’way Air, posted debt ratios above 1,000%, while overall average debt ratios slightly rose year-on-year to 103.7%. Some sectors, like retail and pharmaceuticals, saw improved ratios, while transportation and petrochemicals recorded increases.

Chinese warships entered South Korea’s exclusive economic zone more than 330 times last year, with over 100 additional incursions already recorded in 2025, fueling concerns in Seoul over Beijing’s growing military presence in the Yellow Sea. The photo shows the Lanzhou, a Chinese Type 052C guided-missile destroyer. /Chosun DB

Chinese warships cross into S. Korea’s EEZ over 330 times in 2024

Chinese warships entered South Korea’s jurisdictional waters more than 330 times in 2024, with many incursions extending beyond contested zones into South Korea’s exclusive economic zone (EEZ). The increase in activity, seen as part of Beijing’s strategy to assert control over the Yellow Sea, has raised alarm in Seoul, especially as China continues to pressure South Korea to limit naval operations west of the 124th meridian—an area within South Korea’s EEZ. In response, the South Korean government is weighing proportional countermeasures, such as setting up a maritime research station in the region.

Donald Trump Jr., the eldest son of U.S. President Donald Trump, steps off a private jet upon arriving at Gimpo Airport in Seoul on April 29, 2025./Pool photo

Donald Trump Jr. meets South Korean tycoons in low-profile Seoul visit

Donald Trump Jr., an influential figure in his father’s second administration, arrived in Seoul on April 29 for a private, under-30-hour visit focused on strengthening ties with South Korea’s corporate elite. Invited by Shinsegae chair Chung Yong-jin, Trump Jr. is holding confidential one-on-one meetings with top business leaders, while deliberately avoiding political engagements. Though he holds no official role, his growing clout has drawn keen interest from Korea’s business and political circles.

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