  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} < 0 than LL or RR insertion. Neutral Higgs
contribution does not change S_{phi K} very much due to the strong constraint
from B_s -> 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.
