Organization · 16 stories from 36 outlets in the last 7 days · 1,162 published stories all time
AI summarySouth 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.
AI summaryThe 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.
AI summarySouth 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.
AI summaryPresident 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.
AI summaryFinance 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.
AI summarySouth 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.
AI summaryA former senior U.S. official suggested President Trump might ask Chinese President Xi Jinping for advice on engaging North Korea's Kim Jong-un during their upcoming summit, while expressing skepticism about Pyongyang's interest in renewed dialogue. Meanwhile, South Korean President Lee Jae Myung and Trump discussed the summit's outcomes in a phone call, focusing on Korean Peninsula peace.
AI summaryA Buddhist temple in Seoul has introduced South Korea's first humanoid robot monk, named Gabi, which took part in a precept ceremony and will serve as an honorary monk during celebrations for Buddha's birthday. The event is part of a wider effort to modernise Buddhism's image amid declining monk numbers and growing AI influence.
AI summaryAn appeals court in Seoul upheld a lower court ruling siding with Google Korea in a corporate tax cancellation case worth over 150 billion won (US$103 million), while dismissing a request to cancel local income taxes. The ruling follows a separate court decision ordering the cancellation of 68.7 billion won in taxes levied on Netflix Services Korea Ltd.
AI summarySamsung Electronics' top executives have vowed to continue negotiations with the union over bonus increases, while President Lee Jae Myung has weighed in on the labor dispute, emphasizing that collective action must remain within limits. The union is demanding 15% of operating profits as bonuses, with an 18-day strike threatened starting May 21.
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 summaryLAFC's Concacaf Champions Cup campaign ended in disappointment as they lost 4-0 to Deportivo Toluca FC in the second leg of the semifinals, falling 5-2 on aggregate. Son Heung-min, who had two assists in the first leg, was unable to influence the second leg as Toluca scored all four goals in the second half.
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 summaryAfter a slow start in his first KBO season, Doosan Bears outfielder Daz Cameron has turned his performance around, posting a 10-game hitting streak in April and strong numbers in May. Manager Kim Won-hyong's patience and Cameron's own adjustments at the plate are credited for the turnaround.
AI summarySouth Korea's KOSPI opened at a new all-time high, buoyed by optimism over a potential U.S.-Iran peace deal and continued gains in chipmakers amid an AI-driven rally. The index surged past the 7,400 mark, reflecting broader market enthusiasm despite earlier volatility.
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 summaryPresident Donald Trump said he has had 'very good talks' with Iran and that a deal is possible before his trip to China, while Tehran reviews a U.S. proposal. The U.S. paused a naval operation in the Strait of Hormuz, and Iran's leaders have expressed skepticism about the reported progress.
AI summaryThe LG Twins defeated the Doosan Bears 6-1 on May 6, with Lee Jae-won hitting a two-run homer in his return from the minors and Kim Yun-sik pitching his first KBO game in 740 days. Veteran starter Im Chan-kyu struck out a season-high five over six innings.