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AI summaryPresident Lee Jae Myung has pledged government support to foster shipping and port industries as national strategic sectors, unveiling plans for a global maritime hub in Busan and a new Arctic shipping route. His regional commitments, however, have sparked debate over election-season motivations.
AI summarySouth Korea has formally announced plans to build its first nuclear-powered attack submarine by the mid-2030s, with US endorsement but lingering disputes over construction location, nuclear fuel supplies, and trade commitments. Analysts note the program is part of a broader regional undersea arms race involving China, North Korea, and Japan.
AI summarySouth Korea's industry ministry announced a comprehensive initiative to bolster the country's shipbuilding sector, focusing on AI transformation, financial support for smaller firms, and expanding global partnerships. The plan includes significant investments and collaboration with major shipbuilders and banks.
AI summaryNorth Korea announced Wednesday that it tested a newly developed lightweight multi-purpose missile launching system and tactical cruise missiles, with leader Kim Jong Un overseeing the exercise. State media said the tests evaluated a special mission warhead for tactical ballistic missiles and demonstrated progress in modernizing the country's artillery and missile forces.
AI summarySouth Korea’s KOSPI closed above 8,000 points for the first time on May 26, 2026, rising 2.55 percent as foreign investors returned to net buying on optimism over a possible U.S.-Iran peace framework. The rally, driven largely by AI-linked semiconductor shares, has lifted Korean equity market capitalization well past earlier milestones and above the estimated value of the greater Seoul housing market.
AI summaryA section of the Seosomun Overpass in western Seoul collapsed on Tuesday, killing three people and injuring three others during a demolition-related safety inspection. The incident prompted campaign suspensions, transportation disruptions, and a government-ordered investigation.
AI summarySouth Korean stocks closed above the 8,000-point level for the first time, driven by optimism over a possible U.S.-Iran peace agreement. The KOSPI gained 199.8 points, or 2.55 percent, to close at a record 8,047.51. President Trump's comments on talks proceeding 'nicely' and falling oil prices buoyed investor sentiment.
AI summaryState-run think tanks have revised South Korea's 2026 economic growth forecast upward to 2.5%, citing strong semiconductor-led exports and recovering domestic consumption. The Korea Development Institute (KDI) and the Korea Institute for Industrial Economics & Trade (KIET) both raised their projections, while noting persistent uncertainties from the Middle East conflict.
AI summaryNorth Korea launched several projectiles, including at least one short-range ballistic missile, toward the Yellow Sea on Tuesday, according to South Korea's military. The launch, the first since April 19, was confirmed by Seoul's Joint Chiefs of Staff, which reported the missile flew about 80 kilometers.
AI summaryShinsegae Group Chairman Chung Yong-jin publicly apologized for a Starbucks Korea promotional campaign that referenced the 1980 Gwangju uprising, vowing to take responsibility and reform oversight. The apology came amid criticism from President Lee Jae-myung and civic groups, and Chung later took on leadership roles at E-Mart to oversee changes.
AI summaryPresident Lee Jae Myung has instructed officials to speed up the acquisition of nuclear-powered submarines, citing the need to bolster self-defense amid North Korea's growing nuclear and missile threats. The move aligns with U.S. support for Seoul's submarine program and the transfer of wartime operational control. Lee also emphasized a realistic short-term goal of halting North Korea's nuclear expansion.
AI summaryForeign ministers from South Korea and over 50 African nations gathered in Seoul for the first Korea-Africa Foreign Ministers' Meeting, adopting a joint statement on cooperation amid global challenges. Bilateral talks with Libya, Chad, and Zimbabwe highlighted economic and diplomatic engagement.
AI summaryLIV Golf's second Korean tournament in Busan unfolds amid the tour's financial uncertainty after Saudi Arabia's Public Investment Fund announced it will end backing after this season. Players and officials express optimism while fans enjoy the unique format and star power.
AI summarySouth Korea's military reported that North Korea launched at least one unidentified projectile toward the Yellow Sea on Tuesday. The launch, if confirmed as a missile, would be the first since April 19, when Pyongyang test-fired several short-range ballistic missiles. The Joint Chiefs of Staff are analyzing the details.
AI summarySouth Korea's oceans ministry announced plans to open a regular Arctic shipping route to Europe by 2030, with a pilot voyage from Busan to Rotterdam scheduled for September. The initiative is part of a broader strategy to transform the southeastern region into a global maritime hub, mirroring China's existing Arctic container express route.
AI summaryDirector Yeon Sang-ho's zombie thriller 'Colony' has become a major box-office hit in South Korea, surpassing 5 million admissions and ranking No. 1 for multiple weeks. The film has also performed strongly across Asia, setting records in Malaysia and Indonesia. This article traces its box-office trajectory and international success.
AI summaryWiseTech has started informing staff of redundancies tied to AI advancements, with around 190 Australian employees flagged for job cuts and 2,000 roles to be eliminated globally. The company faces criticism over transparency, and its founder has alleged 'vitriol' in internal chats, while the union demands fair packages.
AI summaryMamelodi Sundowns won their second CAF Champions League title, beating FAR Rabat 2-1 on aggregate after a 1-1 draw in the second leg in Rabat. Goalkeeper Ronwen Williams saved a penalty in the 74th minute to secure the victory, while coach Miguel Cardoso's future had been under scrutiny after losing the previous two finals.
AI summaryKim Si-woo finished second at the CJ Cup Byron Nelson, three shots behind Wyndham Clark, who shot a final-round 60. Kim, who led by two strokes entering the final round, settled for his second runner-up finish of the year and his career-high seventh top-10 of the season.
AI summaryOil prices have experienced sharp fluctuations as markets react to evolving signals from Washington and Tehran over a potential deal to end the US-Israel war on Iran and reopen the Strait of Hormuz. While hopes for a breakthrough briefly drove crude prices down, renewed strikes and cautious statements have reversed gains, leaving traders uncertain.