KOSME Selects 10 Teams for In-House AI Transformation Challenge The Korea SMEs and Startups Agency, known as KOSME, said it is stepping up efforts to strengthen employees’ artificial intelligence skills and data-use capabilities as organizations move into an era of AI transformation. KOSME said Tuesday that 10 teams have advanced to the finals of its in-house AI transformation, or AX, challenge. The selected teams will begin developing AI-based services aimed at solving on-the-job problems. The AX challenge is an internal innovation competition in May 6, 2026

South Korea Tightens State Contract Rules After Serious Accidents, Raises Bond Requirements Contractors sanctioned after a serious industrial accident will have to post a higher contract bond if they sign a state contract after a court grants a temporary suspension of the sanction. The government will also tighten safety requirements at the bidding stage, allowing only companies with safety-related certification to bid on some contracts.  The Cabinet on the 5th reviewed and approved a partial revision to the Enforcement Decree of the State Contract Act reflecting those measures. May 6, 2026

Report: China Targets 70% Domestic Silicon Wafers for Chipmakers This Year China is aiming for domestic products to supply more than 70% of the silicon wafers used by its semiconductor manufacturers this year, according to a report. Nikkei Asia reported on May 5 (local time), citing multiple anonymous sources, that the target is part of an aggressive push to localize China’s semiconductor supply chain. The sources said the goal is being treated among Chinese chipmakers as an unspoken directive to use domestically made 12-inch (300mm) wafers. Unlike other self- May 6, 2026

Ace Bed Releases 'Omniscient Sleep View' Video With Science-Based Sleep Tips Ace Bed has released a street-interview video series, 'Omniscient Sleep View,' on its YouTube channel in collaboration with science communicator Orbit, aiming to offer practical, science-based advice to South Korean office workers struggling with sleep deprivation. The company said on the 6th that the content meets people on the street to hear their sleep concerns and suggest solutions. It focuses on office workers who feel a slump around 2 p.m. and on the everyday experiences of the MZ g May 6, 2026

Kurly to Sell 33 Billion Won in New Shares to Naver, Raising Stake to 6.2% Retail tech company Kurly is moving to deepen its partnership with Naver. Kurly said in a regulatory filing on the 6th that it will carry out a third-party allotment paid-in capital increase for Naver. Kurly will issue 498,882 new common shares at 66,148 won per share. Naver will subscribe to all of the newly issued shares, Kurly said. The issue price was set by mutual agreement based on Kurly’s most recent fundraising round, the company said. Based on that, Kurly’s overall valua May 6, 2026

Robot Monk ‘Gabi’ Takes Buddhist Precepts at Seoul’s Jogyesa Temple "I will follow people well, not talk back, conserve energy and not overcharge." That was the pledge delivered by a humanoid robot monk named Gabi at a Buddhist Year 2570 (2026) "robot ordination ceremony" held May 6 in the courtyard in front of the main hall at Jogyesa Temple in Seoul. The remarks, which recast traditional Buddhist precepts through a robot’s perspective, drew a strong response from visitors, reflecting how artificial intelligence and advanced robotics a May 6, 2026

Gwangju Police to Review Whether to Release Suspect’s Identity in Teen Killing Gwangju police are weighing whether to publicly release the identity of a man in his 20s accused of fatally stabbing a high school girl and attacking a high school boy with a knife on a street at night. The Gwangju Metropolitan Police Agency said Tuesday it plans to review whether to disclose the suspect’s personal information — a 24-year-old identified by the surname Jang — on May 7 or 8. Jang was arrested on an emergency basis on suspicion of murder and attempted murder. Police alle May 6, 2026

KakaoBank, Kakao Pay post record Q1 results as noninterest income grows KakaoBank and Kakao Pay posted record first-quarter results as they expanded noninterest businesses such as platform services and overseas investments. The shift is aimed at reducing earnings volatility tied to interest rates and policy changes, and at building finance platforms used in everyday life. KakaoBank said in a regulatory filing on the 6th that its first-quarter net profit rose 36.3% from a year earlier to 187.3 billion won, the highest on record. Noninterest income increased 7. May 6, 2026

South Korea says it is unclear whether ship fire in Strait of Hormuz was an attack Wi Sung-lac, head of the Cheong Wa Dae National Security Office, said Tuesday that it was not clear a South Korean ship fire in the Strait of Hormuz was caused by an attack. Wi also said there was no longer a need to review participation in “Project Freedom,” a U.S. Trump administration effort to help commercial ships leave the Strait of Hormuz that was halted after two days. Speaking at a briefing at Cheong Wa Dae’s Chunchugwan press center, Wi described the situation involving a f May 6, 2026

Trump Halts Hormuz ‘Project Freedom’ After One Day as Iran Tightens Strait Controls U.S. President Donald Trump said he will temporarily halt “Project Freedom,” a U.S. operation to help ships exit the Strait of Hormuz, just a day after it began, citing the possibility of a final agreement with Iran. While Trump signaled a shift toward negotiations, he said the U.S. maritime blockade on Iran would remain in place, and Iran continued to reject U.S. demands, leaving the outlook uncertain. In a post Monday on Truth Social, Trump said Project Freedom would be paused “ May 6, 2026