Hyundai Rotem wins state projects for AI-based unmanned military robots SEOUL, May 27 (AJP) - Hyundai Rotem said Tuesday it has been selected for two state-funded research and development projects aimed at advancing unmanned robot technologies based on physical artificial intelligence. The company said it was chosen as the final contractor for two projects commissioned by the Ministry of Trade, Industry and Energy and the Agency for Defense Development (ADD). The industry ministry project focuses on developing control software that can manage multiple types of unm May 27, 2026

Mirae Asset lifts target prices for Samsung and SK hynix, citing memory re-rating SEOUL, May 27 (AJP) - Mirae Asset Securities has raised its target prices for Samsung Electronics and SK hynix on Wednesday, arguing that South Korea's two memory makers remain steeply undervalued against global peers even after this year's rally, a call based on a re-rating of valuations rather than any upgrade to earnings forecasts. The brokerage lifted its target for Samsung Electronics to 550,000 won ($366.7) from 480,000 won, up 14.6 percent, and for SK hynix to 3.8 million won fro May 27, 2026

USFK chief calls Korea a 'dagger' in Asia from China's strategic view SEOUL, May 27 (AJP) - Gen. Xavier Brunson, commander of U.S. Forces Korea, has described South Korea as a “dagger” in the heart of Asia from China’s strategic perspective, underscoring the peninsula’s growing role in Washington’s broader efforts to counter Beijing. According to the U.S. Army War College website on Tuesday, Brunson made the remarks during a podcast hosted by the school on May 22. “When they look out from the East Coast of China, what they see May 27, 2026

SK Square breaks clear of Hyundai as AI rally reshuffles Korea's top-five SEOUL, May 27 (AJP) - SK Square, SK Group's investment intermediate holding company, has surged past Hyundai Motor to become South Korea's third-most-valuable listed company, as a rally in artificial-intelligence shares reshapes the upper tier of the market beneath the two dominant chipmakers and rewards firms tied, directly or indirectly, to the semiconductor boom. As of Monday's close, SK Square ranked third at a market capitalization of 155.8 trillion won ($103.8 billion), Hyunda May 27, 2026

Korea's May business sentiment rebounds sharply as fears over external shocks ease SEOUL, May 27 (AJP) - South Korea’s business sentiment improved sharply in May as still-strong exports and a record-setting stock market outweighed lingering concerns over oil prices, exchange rates and Middle East tensions, data showed Wednesday. According to the Bank of Korea, the composite business sentiment index (CBSI) for all industries rose to 98.9 in May from 94.9 in April, marking a 4.0-point increase and the highest level in nearly two years. While the index remained just below May 27, 2026

Regulators warn of risks over South Korea's first single-stock leveraged ETF SEOUL, May 26 (AJP) - Financial authorities issued an investor warning as South Korea prepares to permit the listing of "single-stock leveraged ETFs and ETNs" for the first time in the domestic market. As these instruments track two times the daily performance of specific individual stocks—Samsung Electronics and SK hynix — the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) warned that they can conversely accelerate catastrophic losses. Ac May 26, 2026

Taiwan overtakes India as world's fifth-largest stock market on TSMC-led AI rally SEOUL, May 26 (AJP) - Taiwan's stock market has edged past India to become the world's fifth-largest, propelled by a surge in Taiwan Semiconductor Manufacturing Co. that underscores how the global rally in artificial-intelligence stocks is reshaping the hierarchy of world markets. Taiwan's market capitalization reached $4.95 trillion as of Monday's close, according to a Bloomberg tally, narrowly surpassing India's $4.92 trillion — a margin of about $30 billion, or less May 26, 2026

Lee calls for faster push to acquire nuclear-powered submarines SEOUL, May 26 (AJP) - President Lee Jae Myung on Tuesday called for accelerating South Korea’s push to acquire nuclear-powered submarines, as the government is seeking to unveil a basic plan for the development of a Korean nuclear-powered submarine by the end of this month. “We must speed up the introduction of AI and drone technologies and move faster to acquire nuclear-powered submarines, a key strategic asset for future defense capabilities,” Lee said during a Cabinet meeti May 26, 2026

KOSPI tops 8,000 for first time as oil slump, Asia rally lift Seoul SEOUL, May 26 (AJP) - South Korean stocks broke through the 8,000 mark for the first time on Tuesday as the market reopened from a long holiday to a weekend slide in oil prices and record highs across Asia. The benchmark KOSPI traded at 8,105 as of around 10 a.m., up about 3.3 percent from Friday's close of 7,847.71, while the junior KOSDAQ stood at 1,184.76. It was the first time the index has opened and held above 8,000, after a brief touch on May 15 that ended in a steep sell-off. The w May 26, 2026

Shinsegae chief's apology over Starbucks controversy - text SEOUL, May 26 (AJP) -Below is the full statement of Shinsegae Group chairman Chung Yong-jin's apology over Starbucks Korea's "Tank Day" controversy. To the people of the nation, I stand before you today with a heavy and apologetic heart. First, as chairman of Shinsegae Group, I sincerely bow my head in apology and ask for forgiveness from the bereaved families of the victims of the May 18 Democratic Uprising, the bereaved family of the late activist Park Jong-chul, the citize May 26, 2026