AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

Han Young-hoon
  • US Moves to Revamp Visa Rules to Support Korean Investment, but Enforcement Concerns Persist
    US Moves to Revamp Visa Rules to Support Korean Investment, but Enforcement Concerns Persist The U.S. government is moving to revamp its visa system to better support South Korean companies investing in the United States, citing the need to move training and operations staff in and out on time. But officials and investors say the push to attract foreign capital still clashes with a hard-line immigration enforcement posture. Christopher Landau, the U.S. deputy secretary of state, said May 5 (local time) at the SelectUSA investment promotion event in National Harbor, Maryland, that Washington is "making major changes" to the visa system to address concerns raised by the South Korean government and companies. He said South Korean capital and know-how can be put to work in the United States only if personnel can travel for training and operations, and that current visa rules do not adequately reflect that demand. The effort follows a case last September in Georgia in which more than 300 South Korean business consultants and workers were detained at a Hyundai Motor plant site. The incident became a diplomatic issue between the two allies, and a U.S.-South Korea visa working group was launched afterward. In December, the U.S. Embassy in Seoul also opened a dedicated visa window for South Korean companies. Landau, while stressing that the United States is strictly enforcing immigration and visa laws, said "these systems should not become unnecessary obstacles" to foreign investment. With South Korea having pledged $350 billion (about 515 trillion won) in U.S. investment during tariff negotiations, visa issues have emerged as a key factor in carrying out those plans, not a side concern. Still, reaction on the ground has been cool. Middle East Eye, a London-based online outlet focused on the Middle East, reported comments from U.S. southern state officials responsible for investment recruitment who attended the same event. They said it is difficult to reassure foreign companies while a strong anti-immigration stance continues. "There is no good answer," one official was quoted as saying. "We have to explain to foreign investors that they are safe and protected, but the reality is not." Another said the United States still looks like the most attractive market, "but inside it looks like the house is on fire." SelectUSA is the U.S. government’s flagship investment promotion event, launched in 2013. The U.S. Commerce Department says the program has supported more than $400 billion (about 588 trillion won) in investment and more than 270,000 jobs. With investment promotion and strict immigration enforcement moving in parallel, a central question is whether visa changes can ease uncertainty for companies trying to invest and operate in the United States.* This article has been translated by AI. 2026-05-06 09:18:53
  • Iran Enforces New Strait of Hormuz Transit Rules Requiring Advance Clearance
    Iran Enforces New Strait of Hormuz Transit Rules Requiring Advance Clearance Iran has put a new system in place to manage ships transiting the Strait of Hormuz, state-run Press TV reported. Reuters also cited the report, saying Iran has introduced a new mechanism to control vessel traffic through the waterway. Press TV said Iran on May 5 (local time) officially began operating the new maritime traffic management system for the strait. Under the system, ships seeking to pass through must receive guidance on transit rules and procedures, adjust their sailing plans accordingly, and obtain advance clearance, the broadcaster said. It added that the system is now in operation. Reuters, citing Press TV, reported the same day that Iran has set up the new framework to manage ship movements in the Strait of Hormuz. Reuters said Iran warned the U.S. Navy to refrain from approaching the strait and said commercial vessels must transit in coordination with Iran’s military. It also reported that Iran presented a new map of the strait showing an expanded area of Iranian-controlled waters. The move had been signaled earlier inside Iran. Press TV reported that on May 3, Ali Nikzad, deputy speaker of Iran’s parliament, said a new law setting conditions for passage through the Strait of Hormuz would go through parliamentary approval. Nikzad was quoted as saying, “Israeli ships will not be allowed to pass under any circumstances, and permits will not be issued to hostile countries such as the United States.” He said other vessels would also have to meet passage conditions under the law to be approved by parliament.* This article has been translated by AI. 2026-05-06 08:27:14
  • Wall Street Rallies as Oil Slides Nearly 4%; S&P 500, Nasdaq Close at Records
    Wall Street Rallies as Oil Slides Nearly 4%; S&P 500, Nasdaq Close at Records U.S. stocks rose across the board on Tuesday as crude oil fell nearly 4%, easing inflation worries and lifting risk appetite. The S&P 500 and the Nasdaq Composite both finished at record highs, supported by strength in chipmakers and expectations for solid corporate earnings. The Dow Jones Industrial Average gained 356.35 points, or 0.73%, to close at 49,298.25. The S&P 500 added 58.47 points, or 0.81%, to 7,259.22, and the Nasdaq rose 258.32 points, or 1.03%, to 25,326.13. The S&P 500 and Nasdaq set all-time highs at the close. Markets took comfort from signs of easing tensions in the Middle East. With a view spreading that a ceasefire between the United States and Iran was holding, oil prices cooled after surging a day earlier. Brent crude fell 4% to $109.87 a barrel, a move that helped temper inflation concerns and supported equities. Semiconductor shares led the advance. Intel jumped 13% after reports that Apple is considering using Intel and Samsung Electronics for semiconductor production in the United States. AMD rose 4% ahead of its earnings report. The Philadelphia Semiconductor Index climbed 4.2% to a record, bringing its gain for the year to 55%. Earnings expectations also underpinned the market. Reuters reported that first-quarter profits for S&P 500 companies are expected to rise 28% from a year earlier. All 11 sectors ended higher, with materials and information technology posting the biggest gains. Treasury yields fell, with the 10-year U.S. Treasury yield slipping to around 4.42%. With oil stabilizing and earnings optimism building, investors focused more on corporate profits and demand for risk assets than on inflation shocks.* This article has been translated by AI. 2026-05-06 08:15:14
  • Iran Military Warns It Will Attack U.S. Forces if They Approach Strait of Hormuz
    Iran Military Warns It Will Attack U.S. Forces if They Approach Strait of Hormuz Iran’s unified military command warned that U.S. forces would be attacked if they approach or enter the Strait of Hormuz, after President Donald Trump said the United States would help ships stuck in the waterway. Ali Abdollahi, head of Iran’s unified military command, said in a statement on the 4th that security in the Strait of Hormuz is handled by Iran’s armed forces and that safe passage for vessels must be coordinated with the military. He added that Iran would strike “foreign armed forces, especially the aggressive U.S. military,” if they try to approach or enter the strait. The statement appeared aimed at Trump’s announcement a day earlier. Trump said ships trapped in the Hormuz channel were facing shortages of food and supplies and that the United States would help them move safely. The specific operational plan has not been made public. Iran also urged merchant ships and oil tankers to refrain from moving without coordination with Iran’s military, reiterating that it views transit through the strait as under its military control rather than a matter of maritime safety alone. Reuters reported that U.S. Central Command plans to support the initiative with 15,000 troops and more than 100 land- and sea-based aircraft, warships and drones. Iran said such moves could further complicate the situation and could instead threaten the safety of ships passing through the strait.* This article has been translated by AI. 2026-05-04 16:39:55
  • Middle East War Ripples Through Asian Manufacturing as Costs Surge Despite Stockpiling
    Middle East War Ripples Through Asian Manufacturing as Costs Surge Despite Stockpiling The fallout from the war in the Middle East is spreading across Asian manufacturing. Companies have boosted output for now by building inventories ahead of possible supply disruptions. But a sharp rise in energy and raw material prices is quickly increasing cost pressures. S&P Global said on the 4th that last month’s purchasing managers’ index, a gauge of business conditions, showed manufacturing output generally expanded in major Asian economies. PMI readings for Taiwan, Japan and South Korea all rose in April, reflecting front-loaded purchasing as firms prepared for delivery delays and further price increases. S&P Global cited AI-related demand in Japan and Taiwan, and new product launches in South Korea, as factors supporting production and sales. Still, the pickup is difficult to read as a broad recovery. The data also reflect inventory building by companies and their customers as worries grow over logistics disruptions and higher prices if the war drags on. The Middle East is a key supplier of crude oil, gas and fertilizer for Asia. Since fighting began in late February, prices for energy and other raw materials have climbed, raising costs for Asian manufacturers and weighing on sentiment. Uncertainty is also rising over how long the conflict will last. “This war has brought the biggest supply-chain disruption since the COVID pandemic,” said Annabel Fiddes of S&P Global Market Intelligence. Cost pressures were reported across the region. South Korean manufacturers said both input costs and selling prices jumped to record levels. In Japan, Indonesia and Vietnam, higher raw material prices pushed input costs to their highest levels in years. The hit has been more direct in some emerging markets. Output fell in Indonesia and Vietnam even as costs surged. Vietnam’s new orders declined in April for the first time in eight months. “If prices and supply conditions do not improve quickly, production is also likely to slow,” said Andrew Harker of S&P Global Market Intelligence. India was not immune. Its manufacturing sector continued to improve modestly, but the pace was the second-slowest in about four years, indicating that rising costs are constraining the recovery. Analysts said output is being supported by stockpiling demand, but other countries could face renewed slowing once that effect fades. Usamah Bhatti, an economist at S&P Global Market Intelligence, said how sales and production move after inventory building weakens will be a key variable for manufacturing conditions in the coming months.* This article has been translated by AI. 2026-05-04 16:03:18
  • GameStop makes $56 billion bid for eBay, WSJ reports
    GameStop makes $56 billion bid for eBay, WSJ reports GameStop has made a $56 billion offer to buy eBay, a deal that would pit the smaller video game retailer against the larger e-commerce company and could turn hostile. According to The Wall Street Journal, GameStop CEO Ryan Cohen offered $125 a share for eBay, with consideration split 50% cash and 50% GameStop stock. The bid is about 20% above eBay’s closing price on the previous trading day. Cohen said GameStop began buying eBay shares on Feb. 4 and now holds about 5%. Cohen also signaled he could take his case directly to shareholders if eBay’s board rejects the proposal. He argued that combining GameStop’s physical store network with eBay’s online marketplace could cut costs and improve profitability. He also cited both companies’ strength in collectibles such as trading cards as a source of potential synergy. Cohen said he would serve as CEO of the combined company and take no salary, receiving compensation tied to performance. Financing remains a key hurdle. Reuters reported Cohen has secured a debt commitment letter for $20 billion from TD Bank. As of late January, GameStop had about $9 billion in cash, cash equivalents and marketable securities. That suggests additional funding, including from outside investors, would be needed to complete a $56 billion transaction. The size gap is also significant. GameStop’s market capitalization is about $12 billion, far below eBay’s roughly $46 billion. eBay’s improving results could further complicate the bid. The company recently reported first-quarter revenue of $3.089 billion and gross merchandise volume of $22.2 billion, with GMV up 18% from a year earlier. It also issued a second-quarter revenue outlook above market expectations, raising questions about whether shareholders will readily back a sale. GameStop has improved profitability through restructuring, but growth in its core business remains weak. Fiscal 2025 fourth-quarter revenue was $1.104 billion, down from a year earlier. While its cash position has strengthened, analysts said the proposed deal is still too large for GameStop to shoulder on its own. Some in the market view the offer as more than a takeover attempt, saying it reflects Cohen’s ambition to expand GameStop beyond video game retail into a major e-commerce platform. Others cautioned that without firm financing and shareholder support, the proposal could end up as little more than a statement of intent.* This article has been translated by AI. 2026-05-04 15:21:24
  • Anthropic in talks with Blackstone, Goldman on $1.5B venture to expand enterprise AI
    Anthropic in talks with Blackstone, Goldman on $1.5B venture to expand enterprise AI Anthropic is pursuing plans to form a new company with major Wall Street investors including Blackstone and Goldman Sachs in a deal valued at $1.5 billion, or about 2.1 trillion won. The venture would help companies backed by private equity firms adopt artificial intelligence tools. The Wall Street Journal reported on May 4, citing sources, that Anthropic is in late-stage talks to set up the company with Blackstone, Hellman & Friedman, Goldman Sachs and General Atlantic. An announcement could come as soon as May 5, the sources said. Anthropic, Blackstone and Hellman & Friedman are expected to be core investors, each contributing about $300 million, or roughly 420 billion won, the report said. Goldman Sachs is also expected to join as a founding investor with about $150 million, or about 210 billion won. Total investment commitments are projected at about $1.5 billion. The company is expected to advise businesses on where and how to use AI and support implementation in day-to-day operations, including at private equity-owned firms. OpenAI has also been reported to be discussing a similar partnership model with the private equity industry. Both companies are accelerating efforts to win enterprise customers seeking to cut costs and improve efficiency. The Journal said Anthropic is viewed as a leader in the enterprise AI market, though OpenAI is moving quickly into the space. Anthropic has also been mentioned as a possible stock market listing as soon as this year, and its revenue has reportedly been rising rapidly as its coding tool, Claude Code, gains popularity.* This article has been translated by AI. 2026-05-04 14:54:15
  • Coles CEO says grocery price hikes may be unavoidable as fuel costs surge
    Coles CEO says grocery price hikes may be unavoidable as fuel costs surge 호주 대형 슈퍼마켓 업체 콜스그룹이 연료비와 운송비 상승 여파로 일부 식료품 가격이 오를 수 있다고 밝혔다. 이란 전쟁 여파로 납품업체들의 인상 요구가 커지면서 장바구니 부담도 더 커질 수 있다는 전망이 나온다. 4일 블룸버그에 따르면 리아 웨커트 콜스 최고경영자(CEO)는 호주 멜버른에서 열린 호주주주협회 행사에서 “가격 인상이 불가피하다”고 말했다. 콜스와 납품업체들이 급등한 연료비와 물류비 부담을 함께 안고 있어 일부 품목은 가격 조정을 피하기 어렵다는 설명이다. 콜스는 앞서 지난주에도 이란 전쟁이 연료비와 운송비를 끌어올리면서 납품업체들의 가격 인상 요구가 늘고 있다고 밝혔다. 가격 인상이 현실화하면 이미 생활비 부담에 시달리는 호주 소비자들의 가계 부담은 더 커질 수 있다. 매장에서도 소비 변화가 나타나고 있다. 웨커트 CEO는 “소비자들이 스테이크 대신 다진 소고기나 닭고기처럼 더 저렴한 고기를 고르고 있다”고 말했다. 또 “기름값 부담을 줄이기 위해 장보러 가는 횟수도 줄이고 있다”고 설명했다. 호주 소비심리도 흔들리고 있다. 웨스트팩-멜버른연구소 소비자심리지수는 4월 91.6에서 80.1로 12.5% 떨어졌다. 웨스트팩은 이를 2020년 이후 가장 큰 월간 하락폭으로 평가했다. 시장에서는 호주중앙은행(RBA)이 5일 통화정책회의에서 기준금리를 연 4.35%로 인상할 가능성을 주시하고 있다. RBA는 2026년 5월 통화정책회의 일정을 4~5일로 공지했고, 결정문은 5일 오후 발표할 예정이다.* This article has been translated by AI. 2026-05-04 14:46:05
  • Germany’s Merz Calls U.S. ‘Most Important Partner’ Despite Planned Troop Cuts
    Germany’s Merz Calls U.S. ‘Most Important Partner’ Despite Planned Troop Cuts German Chancellor Friedrich Merz reaffirmed Germany’s alliance with the United States, calling Washington the most important partner in the North Atlantic alliance even after the U.S. announced plans to cut 5,000 troops stationed in Germany. According to Reuters, Merz said in an interview with German public broadcaster ARD on May 3 (local time) that while he acknowledged differences with U.S. President Donald Trump over issues including Iran, “nothing changes in the course of cooperation with the United States.” He also said recent friction between the two countries was not connected to the planned reduction of U.S. forces in Germany. The United States recently announced a plan to reduce its troop presence in Germany by 5,000. Reuters reported that the move has effectively put an end to a plan pursued under the Joe Biden administration to deploy a long-range Tomahawk missile battalion in Germany. Merz made similar remarks on April 30 during a visit to a military base in Muenster, saying the trans-Atlantic partnership was “especially important” and that Germany’s security policy remained aligned with “a strong NATO military alliance and reliable partnerships.” The comments came shortly after Trump raised the possibility of cutting U.S. troops in Germany.* This article has been translated by AI. 2026-05-04 14:27:15
  • Fed’s Kashkari Says Next Rate Move May Not Be a Cut
    Fed’s Kashkari Says Next Rate Move May Not Be a Cut The Middle East war and a resulting oil shock could alter the Federal Reserve’s interest-rate path, a Fed official warned. According to Reuters on May 4, Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said economic uncertainty has increased because of the war involving Iran, making it harder for the Fed to give clear signals about the direction of future rates. He said that if disruptions to crude oil supplies through the Strait of Hormuz persist, inflation pressures could intensify. In that case, he indicated, policymakers should factor in not only the possibility of rate cuts but also rate hikes. Kashkari also said the Federal Open Market Committee should revise its policy language. Bloomberg reported that he said the Fed needs to make clear to markets that the next rate move could be either a cut or a hike. He suggested that language that only leaves the door open to future cuts does not adequately reflect surging oil prices and inflation uncertainty. At its April meeting, the Fed held its benchmark rate at 3.50% to 3.75%, but its statement retained some wording that left open the possibility of future cuts. Kashkari, Cleveland Fed President Beth Hammack and Dallas Fed President Lorie Logan opposed that wording, underscoring renewed differences within the Fed over the path of rates.* This article has been translated by AI. 2026-05-04 11:06:16