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AI summarySouth Korea and Japan held their first 'two-plus-two' vice-ministerial security talks in Seoul, upgrading consultations from the director-general level. The meeting focused on bilateral and trilateral security cooperation with the U.S., amid regional tensions and the Middle East crisis. Seoul also clarified it is not considering a military logistics agreement with Tokyo, despite Japan's reported interest.
AI summarySouth Korea's state auditor found that KEPCO and KHNP failed to cooperate on nuclear power plant export projects, leading to overlapping expenditures and inefficiencies. In response, the government has announced a new public-private committee to improve coordination and jointly develop export projects, aiming to strengthen the country's position in the global nuclear market.
AI summaryThe Australian government announced a gas reservation scheme requiring Queensland's LNG exporters to set aside 20% of exports for domestic use, aiming to lower prices and reduce reliance on international markets. The plan, starting July 2027, has drawn mixed reactions, with Greens criticizing it as industry-friendly and analysts debating its effectiveness.
AI summarySeoul High Court reduced former Prime Minister Han Duck-soo's prison sentence from 23 to 15 years for his role in ex-President Yoon Suk Yeol's brief martial law declaration. The court upheld most convictions but considered Han's decades of public service and less active role in the insurrection. Han's lawyers plan to appeal to the Supreme Court.
AI summaryGuido Reichstadter, a 45-year-old anti-war protester, was arrested after a five-day occupation atop Washington's Frederick Douglass Memorial Bridge to protest the war on Iran. The protest drew attention to the ongoing conflict and sparked debate over the effectiveness of non-violent direct action.
AI summarySouth Korea's Industry Minister Kim Jung-kwan visited Canada to support a Korean consortium's bid for a submarine project valued at 60 trillion won, competing against Germany's Thyssenkrupp Marine Systems. He met with Canadian officials to discuss industrial cooperation and is scheduled to meet U.S. Commerce Secretary in Washington.
AI summarySouth Korean stocks opened at record highs multiple times in recent weeks, driven by optimism over U.S.-Iran peace efforts and a sustained rally in tech and AI-related shares. The KOSPI breached the 7,000-point mark for the first time in May, and continued its ascent past 8,000 and 8,400 points later that month, according to Yonhap News.
AI summaryKakao Corp. reported a 13.2% increase in first-quarter net profit, supported by its flagship platform division. Operating profit jumped 66% year-on-year, while the company outlined plans to expand AI-driven agentic commerce.
AI summaryUS forces struck an Iranian oil tanker in the Gulf of Oman amid ongoing ceasefire tensions, while President Trump pushed for a deal to end the two-month war. Iran denies attacking a South Korean ship and accuses Washington of violating the truce, as diplomatic efforts continue through Pakistani mediation.
AI summaryParis Saint-Germain drew 1-1 with Bayern Munich in the second leg of their Champions League semifinal to advance 6-5 on aggregate. Ousmane Dembélé scored early for the holders, while Harry Kane's stoppage-time equalizer was not enough. PSG will face Arsenal in the final on May 30.
AI summarySouth Korea has suspended its review of whether to participate in the US-led 'Project Freedom' naval operation in the Strait of Hormuz, following President Trump's decision to pause the mission. National Security Adviser Wi Sung-lac said the review is no longer necessary, while also noting that there is no clear evidence that a South Korean-operated ship was attacked.
AI summaryNorth Korea has amended its constitution to remove references to reunification with South Korea, introduce a new territorial clause, and formalize Kim Jong Un's authority over nuclear weapons. The changes mark a significant policy shift, with analysts and officials interpreting them as a move towards a two-state relationship and a potential reduction in hostility.
AI summarySouth Korea's main stock index, the KOSPI, surged past the 7,000-point level for the first time in history, closing at 7,384.56, as technology stocks rallied on expectations of high demand for AI-related chips and on optimism that the Middle East conflict would remain contained. The index has been on a record-breaking run, surpassing 6,600 last week and closing over 6,900 earlier this week.
AI summarySouth Korean stocks closed at an all-time high on May 6 as a semiconductor rally and optimism over a US-Iran peace deal drove the KOSPI up 6.45% to 7,384.56. Samsung Electronics and SK hynix surged, while the Korean won strengthened against the dollar.
AI summarySouth Korea's consumer prices rose 2.6 percent in April, the fastest on-year increase in 21 months, as surging fuel prices drove inflation upward. The Bank of Korea expects further pressure in May, while the finance ministry says temporary price caps on fuel helped limit the rise.
AI summarySouth Korea's anti-corruption agency has indicted a senior judge and a lawyer on bribery charges, alleging the judge accepted cash and benefits in exchange for reduced sentences. The article also examines a separate graft case that exposed procedural gaps in the country's criminal justice system.
AI summaryPresident Lee Jae Myung called for a partial, phased constitutional amendment, arguing the current charter is outdated. The National Assembly is set to vote on a ruling party bill that would tighten martial law conditions, though opposition objections may hinder the process.
AI summarySouth Korea's foreign ministry and the Korea National Diplomatic Academy are set to co-host a seminar on Africa's strategic and economic importance, ahead of a ministerial meeting with African counterparts in Seoul next month. Experts highlight Africa's role as a stable supplier of critical minerals and crude oil, as well as emerging logistics hubs, amid global supply chain disruptions.
AI summaryCoupang Inc. reported a net loss of $266 million in the first quarter, attributing the decline to the fallout from a massive customer data breach. Sales rose 8 percent to $8.5 billion, while the company faces a potential fine from South Korea's data protection regulator.
AI summaryUS Defense Secretary Pete Hegseth called on South Korea, Japan, Australia, and European nations to contribute to securing the Strait of Hormuz, emphasizing that the US mission is temporary and allies must share the burden. The US has imposed a naval blockade on Iran and launched 'Project Freedom' to restore safe passage, with President Trump also pressing Seoul to participate.