Samsung Electronics Tops Stock Gifts to Minors in April as Youth Accounts Rise Ahead of Children’s Day, Samsung Electronics ranked No. 1 last month among domestic stocks gifted to minors, measured by number of transactions. The trend comes as more accounts are being opened in minors’ names this year, expanding investing under children’s accounts. KB Securities said on May 5 that Samsung Electronics accounted for 56.3% of stocks its customers gifted to children age 18 and under through the firm’s “stock gifting” service. The service allows users to transfer shares t May 5, 2026

Japan’s Takaichi Makes First Australia Trip as Leaders Move Ties Toward ‘Quasi-Allies’ Japanese Prime Minister Sanae Takaichi met Australian Prime Minister Anthony Albanese in Canberra on May 4 (local time) and agreed to broaden cooperation across defense, economic security, energy and cyber issues, Japanese media reported. It was Takaichi’s first trip to Australia since taking office and came in the 50th year since the two countries signed the Japan-Australia Basic Treaty of Friendship and Cooperation. Takaichi said the two nations were building ties that could be describ May 5, 2026

South Korea vows full response after fire on HMM NAMU cargo ship in Strait of Hormuz A blast and fire broke out on May 4 (local time) aboard the HMM NAMU, a cargo ship operated by a South Korean shipping company, while it was anchored in the Strait of Hormuz, prompting a government response. Maritime authorities said they are working to determine the cause and ensure the safety of the crew. The Ministry of Oceans and Fisheries said May 5 that it notified relevant agencies immediately after receiving the report and began an emergency situation review meetin May 5, 2026

21 Dead, 61 Hurt in Explosion at China Fireworks Factory Ahead of Trump Visit A major explosion at a fireworks manufacturer in China killed 21 people and injured 61 as U.S. President Donald Trump prepares to visit the country, according to Chinese state media. Chinese President Xi Jinping ordered a swift investigation and strict accountability for those responsible. China’s state-run Xinhua News Agency reported that the blast occurred at about 4:43 p.m. the previous day at a fireworks company in Liuyang, Changsha, in Hunan province. Authorities initially reported May 5, 2026

Korea Aerospace Administration chief meets U.S. space firms after satellite launch Oh Tae-seok, administrator of the Korea Aerospace Administration, met with major U.S. space companies in the United States after the successful launch of South Korea’s Next-Generation Mid-Sized Satellite No. 2, seeking cooperation to strengthen the competitiveness of the country’s private space industry. The agency said Tuesday that Oh on May 3 (local time) successfully completed his duties as head of the launch management team at Vandenberg Space Force Base. The satellite was launc May 5, 2026

Spirit Airlines Shuts Down, Sparking Consumer Backlash and a Buyout Push Spirit Airlines, the U.S. ultra-low-cost carrier known for charging extra for nearly everything, abruptly announced it was shutting down on May 2 (local time), drawing mixed reactions from consumers. Some supporters have even launched a website to raise money in a public buyout effort. According to USA Today and other outlets, Spirit said it would end operations at 3 a.m. on May 2 and close. The airline had planned to operate more than 4,000 domestic flights through May 15, but all future May 5, 2026

Hyundai Department Store’s Mokdong Branch Revamps Living Floor in Biggest Renovation Since 2002 Hyundai Department Store’s Mokdong branch has overhauled its living floor, targeting strong local demand for premium home goods. It is the store’s largest renovation since it opened in 2002. Hyundai Department Store said Tuesday it has reopened the living floor on the B1 level after a full renovation of about 500 pyeong (1,652 square meters), redesigning it as a curated space tailored to customers’ lifestyles. The most prominent addition is a sleep-focused experience zone called the “s May 5, 2026

Aju News Corp. Chairman Kwak Young-gil Wins Korea University Alumni Award Kwak Young-gil, chairman of Aju News Corp., received Korea University’s “Proud Korea University Alumni Award” in recognition of raising the honor of his alma mater and contributing to social development. Korea University, led by President Kim Dong-won, presented the award to Kwak (English Language and Literature, class of ’74) during its 121st anniversary ceremony and anniversary events held May 5 morning at the Inchon Memorial Hall in Seongbuk-gu, Seoul. Also honored were Samyang Interna May 5, 2026

PPP’s Yang Hyang-ja Pledges Semiconductor-Led Growth in Gyeonggi Governor’s Race “Samsung Electronics’ market capitalization is expected to grow fivefold from last year, so why do you think a 100 million won era in per-capita GRDP for Gyeonggi is impossible?” People Power Party candidate Yang Hyang-ja, laying out her vision for Gyeonggi Province, put semiconductors ahead of politics. “In the end, it’s about who can do it,” she said, arguing that industrial competitiveness drives regional and national strength. In the Gyeonggi governor’s race, Yang has described herself les May 5, 2026

OpenAI Faces Rising Cost Pressures as AI Spending Surges and Rivals Gain Ground Even after big U.S. tech companies posted first-quarter earnings surprises, market attention shifted to privately held OpenAI. As a “capex shock” — capital spending rising far faster than revenue — ripples across the AI industry, some investors are even discussing bankruptcy scenarios for OpenAI. According to the IT industry on May 3, Evercore and Bank of America raised their forecast for total AI capital spending in 2027 to more than $1 trillion after big tech companies reported first May 5, 2026