Iran Denies Military Role in Fire on South Korean Ship in Strait of Hormuz Iran’s government has flatly denied allegations that its military was involved in a fire on a South Korean vessel in the Strait of Hormuz. In a statement issued Tuesday, the Iranian Embassy in Seoul said it “firmly rejects and completely denies all allegations” that the armed forces of the Islamic Republic of Iran were involved in the incident involving damage to a South Korean ship in the strait. The statement came as speculation grew over a possible Iranian attack after a fire broke o May 6, 2026

South Korea Forecast: Mostly Cloudy Thursday With Scattered Rain, Big Temperature Swings Thursday the 7th is expected to be mostly cloudy nationwide, with rain developing in scattered areas from the afternoon, mainly in central regions. According to the Korea Meteorological Administration on the 6th, morning lows will range from 9 to 18 degrees Celsius, with daytime highs of 18 to 27 degrees. From afternoon into the night, about 5 millimeters of rain is forecast for the Seoul metropolitan area, inland and mountainous parts of Gangwon, northern South Chungcheong Province and May 6, 2026

KOSPI’s Record Run Raises Red Flags as Margin Debt and Inverse Bets Surge A booming stock market often carries a fear of a sharp pullback, and that risk grows when prices rise as fast as they have recently. Even without Warren Buffett’s remark that it can feel closer to a casino, warnings about overheating are growing. Analysts say investors should watch for “hidden bombs” in the rally, starting with debt-fueled trading. The Korea Financial Investment Association said margin-loan balances stood at 35.7131 trillion won as of April 30. After topping 35 trillion w May 6, 2026

KOSPI Surges Past 7,000 as Semiconductor Rally Lifts Samsung, SK Hynix South Korea’s benchmark KOSPI has pushed above the 7,000 mark, about two months after breaking through 6,000. Compared with a year earlier, the index has nearly tripled in an unprecedented rally, prompting talk that the market has entered a new normal. Brokerage research chiefs said the momentum could carry the index to 9,000. According to the Korea Exchange, the KOSPI on the 6th closed at 7,384.56, up 447.57 points, or 6.45%, from the previous session. It extended record highs May 6, 2026

DeepSeek Plans First Fundraising Led by China’s ‘Big Fund,’ Valuation Seen at $45B China’s AI startup DeepSeek, which drew global attention last year with what was dubbed the “DeepSeek shock,” is planning its first fundraising round led by a major state-backed semiconductor fund, the Financial Times reported. The FT, citing four people familiar with the talks, said negotiations are being led by China’s largest state-owned semiconductor investment vehicle, the China Integrated Circuit Industry Investment Fund, known as the “Big Fund.” DeepSeek’s valuation, which was ab May 6, 2026

K-Culture Boosts Korea’s Cross-Border E-Commerce as Platforms Expand Overseas Sales As the market for selling South Korean products directly to overseas consumers grows, e-commerce companies are rapidly adjusting strategy. The focus is shifting away from serving Korean shoppers’ overseas direct purchases toward targeting foreign buyers with competitive K-beauty, fashion and other content-driven products. According to the National Data Center on Tuesday, online overseas direct sales totaled 3.02 trillion won last year, up 16.4% from a year earlier. In the first quarte May 6, 2026

KRX Marks 30 Years of Derivatives, Plans New Products Including Crypto and Carbon Korea’s derivatives market marked its 30th anniversary with a ceremony reviewing past growth and outlining plans to expand products and upgrade trading infrastructure. The Korea Exchange said it will broaden offerings to include new products such as crypto-asset- and emissions-permit-related derivatives, while strengthening risk controls and price discovery to boost global competitiveness. The Korea Exchange held the anniversary event May 6 at the Lotte Hotel in Busan, drawing about 200 p May 6, 2026

Lee Says Nonfarmers Should Not Be Allowed to Own Farmland President Lee Jae-myung said the government should strengthen enforcement so that people who do not farm cannot own farmland. Lee made the remarks at a Cabinet meeting he chaired at Cheong Wa Dae on May 6 after receiving a report from Agriculture, Food and Rural Affairs Minister Song Mi-ryeong on a plan for a full survey of farmland. He said the Constitution and the Farmland Act clearly intend that those who do not actually farm should not hold farmland. Lee instructed officials to May 6, 2026

Korean Brokerages Race to Launch One-Stop Accounts for Foreign Retail Investors Foreign brokerages and South Korean securities firms are expanding “integrated accounts” that let foreign retail investors trade Korean stocks without opening separate local accounts. After regulatory changes, major firms have moved quickly, with nine companies having launched services or reviewing plans. With the domestic market posting an unprecedented rally, the industry expects additional support from foreign inflows. According to the financial investment industry on Tuesday, Samsung May 6, 2026

Coupang Posts 12.46 Trillion Won in Q1 Revenue but Swings to Operating Loss Coupang posted 12 trillion won in first-quarter revenue but swung to an operating loss of about 350 billion won, weighed down by costs tied to a personal data breach and inefficiencies in its logistics network. Coupang Inc. Chairman Kim Beom-seok said Wow, the company’s paid membership service, is rebounding after last year’s breach but will take time to fully normalize. Coupang Inc. said on the 6th (Korea time) that first-quarter revenue rose 8% from a year earlier to 12.4597 trilli May 6, 2026