HMM Approves Relocation of Headquarters from Seoul to Busan HMM held an extraordinary general meeting on May 8, approving a change in its headquarters from Seoul to Busan. The company plans to first relocate the CEO's office to Busan, followed by a gradual organizational transition.The meeting took place at Park One Tower in Yeouido, Seoul, where the board voted to amend the company's articles of incorporation to reflect the new headquarters location in Busan.Choi Won-hyuk, HMM's CEO, stated, "As a leading national shipping company, we are committed to c May 8, 2026

Celltrion's U.S. Strategy Boosts Sales of Jimpenetra, Achieving Record Prescriptions Celltrion's tailored sales strategy in the U.S. has paid off, with its subcutaneous infliximab treatment, Jimpenetra (known as Remsima SC in South Korea), achieving its highest quarterly prescription volume ever in the first quarter of this year, surpassing the total prescriptions from the first half of last year.The company is optimistic about the second half of the year, anticipating continued growth for Jimpenetra as prescription trends show a consistent upward trajectory.According to Celltri May 8, 2026

Iran Establishes Persian Gulf Strait Authority to Regulate Shipping Iran has begun formalizing its control over the Strait of Hormuz by launching a new authority to regulate shipping. The Persian Gulf Strait Authority will oversee vessel passage approvals and collect tolls, marking a shift from temporary military measures to a permanent administrative system. On May 8, reports from AP, PBS, and CBS indicated that Iran has established the Persian Gulf Strait Authority, which is acting as the "only valid approval authority" for vessels transiting the strait, May 8, 2026

Government Strengthens Supply Chain for Solar Inverters Amid High Foreign Dependency 정부가 업계와 외산 비중이 높은 태양광 인버터에 대한 공급망을 보호하기 위한 논의를 본격화한다. 기후에너지환경부는 8일 서울 양재 엘타워에서 한국전력공사 등 공공기관 및 OCI파워 등 국내 인버터 제조업계와 함께 '태양광 인버터산업 발전협의체'를 공식 발족했다. The South Korean government is taking steps to protect the supply chain for solar inverters, which are heavily reliant on foreign imports. On May 8, the Ministry of Climate, Energy, and Environment officially launched the 'Solar Inverter I May 8, 2026

Coupang Expands Healthcare Access for Seniors and Children in Danyang Coupang is accelerating its healthcare support initiative in rural areas with limited medical infrastructure. Ahead of the opening of its advanced logistics center in Jecheon next year, the company is deploying a team of medical professionals to Danyang, a region with a high elderly population, to provide tailored healthcare services. On May 7, Coupang held its "On-Dongne Care" program at the Maepo Gymnasium in Danyang County, targeting residents in medical blind spots. This was the s May 8, 2026

KOSPI Falls Over 2% Amid U.S. Market Decline The KOSPI opened lower on May 8, dropping over 2% after surpassing 7,500 points the previous day, influenced by declines in the U.S. market. As of 9:16 a.m., the KOSPI was down 154.71 points (2.07%) at 7,335.34. It started the day at 7,353.94, down 136.11 points (1.82%), and continued to fall amid foreign selling. Han Ji-young, a researcher at Kiwoom Securities, noted, "Today’s market is experiencing a pause due to profit-taking pressures stemming from uncertainties surrounding U.S.-Ir May 8, 2026

U.S.-Iran Tensions Escalate Despite Ceasefire U.S. and Iranian forces clashed again in the Hormuz Strait, despite a ceasefire announced on April 7. The ongoing disputes over control of the strait and Iran's nuclear program highlight the fragile nature of the ceasefire. On May 7, U.S. Central Command (CENTCOM) reported that Iran launched missiles, drones, and small boats at three U.S. Navy destroyers transiting the strait. In response, the U.S. conducted retaliatory strikes targeting missile and drone launch sites and command facilities May 8, 2026

Funeral of Former Prime Minister Lee Hong-koo Concludes The funeral for former Prime Minister Lee Hong-koo, who passed away at 92 on May 5, concluded with a farewell ceremony and burial. On the morning of May 8, a solemn farewell ceremony took place at the Seoul Asan Medical Center, followed by the burial at Cheonan Park Cemetery, marking the end of the funeral proceedings. The ceremony was led by Lee Jae-seung, head of the Korea University Institute of International Relations, and included tributes from Hong Seok-hyun, chairman of JoongAng May 8, 2026

Toss Bank Expands National Treasury Payment Services with Direct Bank of Korea Link Toss Bank is set to enhance its national treasury payment services by directly linking with the Bank of Korea. On May 8, Toss Bank announced it has obtained qualification as a national treasury collection agency. National treasury payments allow customers to receive funds from government agencies, such as tax refunds, directly into their accounts. Since 2024, Toss Bank has offered services through its app for viewing and paying national tax, customs duties, police fines, penalties, an May 8, 2026

President Lee Honors Parents on Parents' Day, Emphasizes Support for Families On Parents' Day, May 8, President Lee Jae-myung expressed deep respect for all parents dedicated to their families and the nation. He stated, "The heartfelt desire to leave a better world for our children is the root of this country and the driving force behind its prosperity and growth. Today's South Korea stands on that silent dedication." In a Facebook post, he said, "On this 54th Parents' Day, I extend my sincere gratitude and respect to all parents who are devoted to their famil May 8, 2026