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

Samsung Electronics Faces Growing Divide Between Chip and Device Units as Union Rift Deepens Samsung Electronics is seeing an increasingly stark performance gap between its semiconductor business (DS) and its device business (DX), and the divide is now spilling into open friction inside its labor groups. According to industry officials on May 5, Samsung’s first-quarter results showed the DS division posting more than 53 trillion won in operating profit, accounting for most of the company’s earnings. The DX division, which covers mobile phones, TVs and home appliances, posted abou May 5, 2026

South Korea’s Big 3 Shipbuilders Win $1.1B in Energy Vessel Orders in One Day South Korea’s three major shipbuilders won about 1.5 trillion won ($1.1 billion) in combined orders within a day, reflecting a broader mix of vessel types and customers, industry officials said. Analysts said the deals point to growth beyond ship orders into a wider market for energy transport and storage infrastructure. According to the industry on May 5, HD Korea Shipbuilding & Offshore Engineering, Hanwha Ocean and Samsung Heavy Industries each secured orders a day earlier from ship May 5, 2026

Samsung Biologics union to shift from strike to open-ended work-to-rule campaign The Samsung Biologics labor union is ending a five-day, full-scale strike that began May 1 and will return to worksites on May 6, shifting to an open-ended work-to-rule campaign. The union is also said to be weighing an extension of the strike, raising the possibility of a prolonged dispute if an agreement is not reached soon. Industry officials said May 5 that labor and management plan to resume talks with a one-on-one meeting on May 6 between a human resources executiv May 5, 2026