South Korea Forecast: Sunny Wednesday With Highs Up to 27C, Big Day-Night Swings Wednesday the 6th is expected to be clear nationwide, with a wide gap between daytime highs and overnight lows. The Korea Meteorological Administration forecast morning lows of 7-16C and daytime highs of 21-27C. Under the influence of a high-pressure system moving east from the southern Yellow Sea, inland areas are expected to see day-night temperature differences of around 15C, the agency said. Forecast morning lows in major cities are: Seoul 11C, Incheon 12C, Chuncheon 7C, Gangneung May 5, 2026

ADB Economist Warns Prolonged High Oil Prices Could Drag South Korea Growth Albert Park, chief economist at the Asian Development Bank, warned that prolonged disruption to energy supply chains from the Middle East conflict could keep oil prices elevated and weigh on South Korea’s economy. Speaking at a press briefing May 4 (local time) in Samarkand, Uzbekistan, Park said that even if the conflict ends, rebuilding damaged energy infrastructure could take years, locking in a “higher-for-longer” oil-price environment. Under that scenario, South Korea’s economic gro May 5, 2026

Iran Foreign Minister Visits China as U.S.-Iran Tensions Rise in Strait of Hormuz Iranian Foreign Minister Abbas Araghchi traveled to China on May 5 local time as the United States and Iran faced off militarily over the Strait of Hormuz. Iran’s Foreign Ministry said on its Telegram channel that Araghchi would visit Beijing that day, according to Yonhap News Agency. The ministry said Araghchi plans to meet China’s foreign minister to discuss ways to develop bilateral ties and to exchange views on rapidly shifting regional and international conditions. Araghchi an May 5, 2026

HMM cargo ship that caught fire near Strait of Hormuz awaits tow to Dubai An HMM-operated cargo ship that caught fire while anchored in the Strait of Hormuz is running on an emergency generator and waiting to be towed, the company said. Yonhap reported Tuesday that the HMM NAMU remained in waters near the United Arab Emirates, where the fire broke out a day earlier. The blaze triggered an automatic power shutdown, leaving the vessel unable to move under its own power. Once a tug is secured, it is expected to be taken to Dubai port. Six South Korean crew me May 5, 2026

Nvidia CEO Jensen Huang backs U.S. government in dispute with Anthropic Nvidia CEO Jensen Huang has sided with the U.S. government in a dispute between U.S. AI company Anthropic and the Department of Defense. According to Yonhap, Huang said at the Milken Global Conference 2026 economic and finance forum held Sunday afternoon local time at the Beverly Hilton in Los Angeles that he “fully believes the government will use technology in the right way.” He praised Anthropic as “an amazing company with a great culture and a deeply rooted belief system,” but May 5, 2026

PPP leader warns lawmakers backing independent Han Dong-hoon in Busan by-election People Power Party leader Jang Dong-hyeok said May 5 that lawmakers who entered the National Assembly on a party nomination have “roles and responsibilities” that come with it, in remarks widely seen as a warning to party members backing independent candidate Han Dong-hoon in the Busan Buk-gu Gap by-election. Pro-Han lawmakers pushed back, arguing that conservatives should rally behind strong candidates beyond party lines. The public exchange has raised concerns that factional tensions May 5, 2026

Suspected Iran Attack on Korean Cargo Ship Raises Hormuz Risks, Oil Price Concerns Suspicions that Iran attacked the Korean cargo ship NAMU have sharply raised tensions around the Strait of Hormuz, fueling concerns that South Korea’s crude oil supply strategy could be disrupted if Korean-operated vessels become targets. The renewed Middle East risk is also pushing international oil prices higher, adding another policy variable for Seoul. According to relevant authorities on May 5, a fire broke out in the engine room of the NAMU after an explosion at about 8:40 p.m. the p May 5, 2026

South Korea on alert after fire on HMM cargo ship near Strait of Hormuz raises attack fears A fire aboard a South Korean cargo ship in the Strait of Hormuz has prompted concerns it may have been hit in the Middle East conflict, leading the Lee Jae-myung government and the shipping industry to activate emergency response measures. The cause has not been determined, but officials and the operator said they would respond cautiously, mindful of diplomatic implications, as the possibility of an attack involving an Iranian mine or suicide drone has been raised. According to the govern May 5, 2026

H Energy CEO says AI platform is key to meeting RE100 pressure in South Korea "Apple has declared it will make its entire supply chain carbon-neutral by 2030. If you can’t prove RE100, supply contracts get cut. This won’t be just a big-company issue — it will become a survival requirement for the entire supply chain," Ham Il-han, CEO of H Energy, said in an interview with Aju Business on May 5. Ham pointed to the company’s solution, "SolarShare Baro," a corporate platform that lets businesses buy electricity directly to meet RE100 goals. Using a May 5, 2026

South Korea to Launch Fifth-Generation Indemnity Health Insurance With Lower Premiums Financial authorities will launch fifth-generation indemnity health insurance on Tuesday, cutting premiums while reshaping coverage. The key change is stronger protection for serious illnesses and reduced benefits for nonsevere, noncovered services. Analysts say the shift could be seen by consumers as a cut in benefits, slowing early adoption. The Financial Services Commission said Monday it is overhauling the product structure so coverage better matches standard medical costs covered by May 5, 2026