Korean Tire Companies Face EU Anti-Dumping Duties Amid Rising Costs Domestic tire manufacturers have reported solid first-quarter results despite rising global raw material costs. The increase in sales of high-inch tires has been driven by a surge in global demand for electric vehicles and sports utility vehicles (SUVs). However, the European Union's announcement of anti-dumping duties on Chinese tires could lead to increased volatility in second-quarter results. According to industry sources on May 11, the three major South Korean tire companies—Hankook T May 12, 2026

Woman Arrested for Drugging and Robbing Men in North Gyeonggi Province A woman in her twenties has been arrested for drugging men she met through marriage agencies and stealing millions of won from them. The Uijeongbu Police Department announced on the 27th that they have detained the suspect, identified as A, on charges of robbery and violating drug control laws. A is accused of drugging four men from December of last year to April of this year in the greater Seoul area, stealing approximately 48 million won (about $36,000). She reportedly approached h May 12, 2026

Mother Arrested for Fatal Abuse of 8-Month-Old Son A mother in her 30s has been arrested for allegedly killing her 8-month-old son by repeatedly striking him on the head with a TV remote control. According to Yonhap News on April 30, the Southern Gyeonggi Police Agency has detained the woman, identified as A, on charges of violating the Special Act on the Punishment of Child Abuse Crimes (child abuse resulting in death). A is accused of abusing her son, referred to as B, at their home in Siheung around May 10, leading to his death. A May 12, 2026

Shinhan Financial Group's Jin Ok-dong Navigates Trust and Transformation in the AI Era Jin Ok-dong, chairman of Shinhan Financial Group, emphasizes trust and transformation. For a long time, Shinhan has been a symbol of meticulous management, strong organizational discipline, and stable performance in South Korea's financial sector. However, leadership in finance during the AI era can no longer be evaluated solely on the ability to manage numbers and mitigate risks. What is now required is the judgment to decide where to allocate capital, how far to integrate digital and AI into d May 12, 2026

U.S. and South Korea Defense Ministers Discuss Key Security Issues South Korea's Defense Minister An Kyung-bak met with U.S. Secretary of Defense Pete Hegseth on May 11 at the Pentagon in Washington, D.C., to discuss key issues including the transition of wartime operational control. This meeting marked the first time the two defense ministers have convened since their discussions during the 57th U.S.-South Korea Security Consultative Meeting in Seoul on November 4, 2025. According to the Ministry of National Defense, the ministers discussed the secur May 12, 2026

South Korea Posts Highest GDP Growth Among Major Economies in Q1 South Korea's economy recorded the highest growth rate among major economies in the first quarter of this year. Driven by strong exports, the country achieved a surprising growth, but concerns about base effects and external uncertainties suggest that growth may slow in the second quarter. According to the Bank of Korea's economic statistics system, South Korea's GDP growth rate for the first quarter was 1.694%, the highest among 22 countries that released preliminary figures as of the May 12, 2026

South Korea's Stock Market Capitalization Surpasses Taiwan's South Korea's stock market capitalization has surpassed that of Taiwan. Following a record high for the KOSPI, the rankings of the two countries' stock markets flipped in just one day. According to the Korea Exchange and the Taiwan Stock Exchange, as of May 11, South Korea's stock market capitalization was recorded at 7,084 trillion won. When converted at the exchange rate of 1,472 won to the dollar, this amounts to approximately $4.81 trillion. In contrast, Taiwan's stock market capital May 12, 2026

Applied Materials Partners with TSMC to Accelerate AI Semiconductor Development Applied Materials is teaming up with TSMC to accelerate the development of next-generation artificial intelligence (AI) semiconductor technologies. The two companies plan to conduct joint research and development at the EPIC Center, currently being established in Silicon Valley, with a strategy to innovate advanced processes and expedite the transition to mass production. On May 12, Applied Materials announced the expansion of its strategic partnership with TSMC to hasten the commercializ May 12, 2026

Toss Bank Hires Strategy Expert Amid Focus on Expanding Loans for Low-Middle Credit Borrowers Amid growing concerns over the practice of "cherry-picking" high-quality customers by internet banks, Toss Bank has taken steps to improve its operations by hiring a strategy expert from Coupang. With the average credit score of its borrowers being higher than that of traditional banks, Toss Bank faces the challenge of expanding loans for low and middle credit borrowers while balancing profitability and soundness.According to the financial sector on May 11, Toss Bank has established a new positi May 12, 2026

Korean Automakers Reach 76 Million Exports After 50 Years in Global Markets Korea's automotive industry has achieved a significant milestone, reaching a cumulative export total of 76 million vehicles after 50 years in international markets. This accomplishment reaffirms the industry's vital role in the nation's economic growth. According to the Korea Automobile Mobility Industry Association (KAMA), as of last month, a total of 76,548,569 vehicles have been exported. This record comes 50 years after Hyundai Motor Company exported its first domestic passenger car, t May 12, 2026