B -> phi K_S CP asymmetries as a probe of supersymmetry

We consider sparticle contributions to time dependent CP asymmetry in B -> phi K_S. As for the gluino-squark loop, LR or RL insertion is more likely to give recently observed S_{phi K} mu^+ mu^-. We also show correlations among related processes such as direct CP asymmetry in B -> X_s gamma and B_s - B_s bar mixing, and discuss theoretical motivations for desired strength of flavor violation.