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South Korea has signed a deal to export three more Chunmoo multiple launch rocket systems to Estonia, building on a framework agreement that could see Seoul supply the weapon over a decade. The announcement from KOTRA highlights growing trust in South Korea's defense industry, while Russian state media frames the exports as part of a NATO military buildup near Russia's borders.
Kim Si-woo tied for 35th at the PGA Championship, while Im Sung-jae missed the cut. Aaron Rai won his first major, finishing at nine-under 271.
North Korean state media reported that Russian President Vladimir Putin thanked a North Korean military commander after North Korean troops participated in Russia's Victory Day parade, marking the first such participation. The reports also covered domestic issues including food shortages, hantavirus concerns, and Kim Jong-un's calls to strengthen artillery capabilities.
North Korean soldiers joined Russia's Victory Day parade in Moscow for the first time, according to footage by Tass, while Kim Jong-un sent a congratulatory message to Putin reaffirming their strategic partnership.
Japanese Prime Minister Sanae Takaichi is set to visit South Korea's Andong city on May 19-20 for a summit with President Lee Jae Myung, continuing the leaders' 'shuttle diplomacy' and addressing bilateral and regional issues including North Korea and the Middle East conflict.
South Korean financial authorities and brokerages are moving to ease foreign investors' access to local markets, including allowing direct ETF trading and expanding omnibus account services. The KOSPI's 82% rally this year has spurred these efforts, with major firms like Samsung Securities partnering with global platforms. Regulatory changes are expected in the second half, pending system overhauls and tax agreements.
South Korea and the United States have signed a memorandum of understanding to deepen bilateral shipbuilding cooperation, establishing the Korea-U.S. Shipbuilding Partnership Initiative. The agreement supports Seoul's pledge to invest $150 billion in the U.S. shipbuilding sector as part of a broader trade deal. Industry Minister Kim Jung-kwan also discussed investment timelines and denied South Korea is lagging behind Japan in implementing its commitments.
North Korea announced plans to deploy new long-range artillery systems capable of striking Seoul's capital region and to commission its first naval destroyer. Leader Kim Jong-un inspected production of 155-mm self-propelled gun-howitzers and ordered the destroyer's handover to the navy in mid-June.
North Korean leader Kim Jong-un inspected military industrial enterprises, reviewing production of new 155mm self-propelled howitzers and setting tasks for expanding high-precision ammunition output. State media report plans to deploy the new artillery along the border with South Korea, with a range exceeding 60 kilometers.
Samsung Electronics' largest labor union will resume negotiations with management next week, following a tentative wage deal that has paused plans for a general strike. The union had threatened an 18-day strike over performance-based bonuses, but has now agreed to put the deal to a vote.
The European Union has imposed sanctions on 16 Russian officials and seven entities over the alleged systematic deportation and forced transfer of Ukrainian children. The move brings the total number of people and entities under EU restrictions for the abductions to over 130, while Russia continues to reject the allegations.
South Korea has been deepening diplomatic engagement across the Middle East amid the ongoing regional conflict, dispatching a special envoy to Kuwait, Bahrain, and Iraq while the foreign minister held talks with his Jordanian counterpart. The visits focused on energy security, reconstruction cooperation, and post-war partnerships.
South Korea's ruling Democratic Party failed to pass a constitutional amendment bill as the main opposition People Power Party boycotted the vote, leaving the National Assembly short of the required quorum. The bill sought to tighten martial law oversight and add democratic legacies to the preamble. The collapse raises questions about bipartisan cooperation and the prospects for reform.
South Korean President Lee Jae Myung's special envoy, former Rep. Yang Kyung-sook, met with Costa Rican President-elect Laura Fernandez to discuss enhancing bilateral cooperation in infrastructure, digital technology, and other sectors. The meeting comes ahead of Fernandez's inauguration, with Yang set to attend the ceremony and deliver a personal letter from President Lee.
South Korea's largest shipping company, HMM, has received shareholder approval to move its headquarters from Seoul to Busan, aligning with President Lee Jae-myung's plan to develop the southern port city into a maritime hub. The relocation, supported by government incentives, follows the earlier move of the Ministry of Oceans and Fisheries to Busan and is expected to be completed by year-end.
The U.S. Court of International Trade ruled 2-1 that President Trump's 10% global tariffs are not justified under Section 122 of the 1974 Trade Act. The administration is expected to appeal, while new tariff measures are already underway.
South Korea posted its largest-ever monthly current account surplus of $37.33 billion in March, driven by strong semiconductor exports. The surplus extends the country's streak to 35 consecutive months, with the Bank of Korea projecting the trend to continue despite Middle East tensions.
President Lee Jae Myung pledged on Parents' Day to create a society where the state shares the burden of raising children and supports the elderly, outlining plans for community care services, 1.15 million senior jobs, and pension reform. In a Facebook post and at a ceremony in Seoul, he emphasized reducing parents' sacrifices and honoring fallen firefighters and police officers.
Finance Minister Koo Yun-cheol has reassured markets and the public that South Korea's financial system remains resilient despite ongoing Middle East tensions, citing strong economic data and stress tests. He acknowledged rising inflationary pressures but emphasized the government's readiness to take stabilization measures.
South Korean stocks opened lower on Friday, driven by profit-taking after a record rally and renewed military tensions between the US and Iran. The KOSPI fell over 1.8% at the open, with heavyweight tech stocks leading declines, while the Korean won weakened against the dollar.