BTS gets state-visit red-carpet treatment in Mexico SEOUL, May 07 (AJP) - K-pop supergroup BTS appeared alongside Mexican President Claudia Sheinbaum at the presidential office in Mexico City on Thursday, drawing tens of thousands of fans ahead of the group's sold-out stadium concerts. Sheinbaum welcomed the seven-member band during her regular morning press briefing, known as "Mañanera," describing BTS as artists who "always convey messages of friendship, peace and love." The group is scheduled to perform at Estadio GNP Seguros on Thursday, Saturday, and Sunday, the third stop on the North American leg of their "ARIRANG" World Tour, following Tampa and El Paso. All three concerts were sold out immediately after tickets went on sale, local organizers said. The Mexico City Chamber of Commerce estimated the performances could generate approximately $107.5 million in economic activity. After Mexico City, the tour moves on to Stanford and Las Vegas before heading into Europe. BTS is also set to return to Latin America in October, with dates scheduled in Bogotá, Lima, Santiago, Buenos Aires and São Paulo. Member Jimin shared a brief video from the scene on his Instagram story, captioning it "Mexico, Gracias" with purple heart. BTS remains the most-streamed K-pop act in Mexico, which ranked as the world's fifth-largest K-pop streaming market, according to a report published by Spotify in August 2025. The group's 2020 album "MAP OF THE SOUL : 7" topped Mexico's most-streamed K-pop albums list, while "Dynamite" ranked as the country's most-streamed K-pop song. Eight of Mexico's top 10 most-streamed K-pop albums were BTS releases, Spotify said. On the global charts, BTS' latest title track "SWIM," from its fifth studio album "ARIRANG," ranked No. 2 on both Billboard's weekly Global Excl. U.S. and Global 200 charts for a sixth consecutive week as of May 4. 2026-05-07 10:23:41

Markets Rally on Hopes for U.S.-Iran Deal, but Key Gaps Remain Global financial markets have moved quickly on signs of progress in U.S.-Iran talks. Global oil prices fell nearly 7% in a day, and New York stocks set fresh record highs. South Korea’s Kospi also briefly topped 7,500 for the first time, and the won-dollar exchange rate returned to prewar levels. Investors are betting that Middle East risks could ease sooner than expected — a familiar burst of weekend optimism from the region. The United States and Iran are said to be discussing the possibility of signing a memorandum of understanding to end the war. Reported items on the table include limits on Iran’s uranium enrichment and a halt to operations at nuclear facilities, a phased easing of U.S. sanctions, and normalization of shipping through the Strait of Hormuz. U.S. President Donald Trump added to expectations by saying the chances of an agreement were “very high.” For markets, that suggests the worst-case scenario — a surge in oil prices and a shock to global supply chains — may be less likely. Still, the current rally appears to reflect optimism that may be running ahead of the negotiations. Markets have begun pricing in a “postwar” outlook, but the talks still face wide gaps on core issues. U.S. demands go beyond a simple ceasefire. They are described as including dismantling nuclear facilities such as Fordow and Natanz, removing enriched uranium, round-the-clock inspections by the International Atomic Energy Agency, and long-term limits on enrichment — steps that amount to a redesign of Iran’s nuclear program. Iran, however, is unlikely to accept such terms without parallel guarantees for regime security and sanctions relief. The Strait of Hormuz is also a high-stakes issue, combining sovereignty concerns with economic pressure, making a deal harder to reach. For that reason, the recent market response may be better understood as relief that escalation risks have eased, rather than confidence in a durable peace framework. The United States is pursuing talks while maintaining military pressure and a maritime blockade, and Iran has not withdrawn its claim to authority over transit controls. Tensions have not disappeared; they appear to have been temporarily lowered to a manageable level. The episode also carries broader implications for the international order. With the Strait of Hormuz — a key route for global oil shipments — effectively used as a geopolitical bargaining chip, vulnerabilities in energy security and the system of freedom of navigation have again been exposed. That is not only a Middle East issue. It increases volatility across global logistics and financial systems. The recent swings in oil prices, exchange rates and semiconductor stocks underscore how instability around the strait can ripple through the world economy. South Korea’s sensitivity reflects its heavy reliance on imported crude and maritime transport. Stability in oil prices and the exchange rate is clearly positive, but it is too early to read the current moment as a return to structural stability. Foreign inflows, driven largely by short-term expectations of reduced geopolitical risk, could also reverse. For now, markets are reacting to the possibility that “the worst can be avoided.” Whether that turns into a sustainable agreement and a restoration of order will depend on what is negotiated — and how it is implemented. The international community is watching to see whether this round of Middle East uncertainty can move beyond short-lived hope and toward a more stable framework. * This article has been translated by AI. 2026-05-07 10:21:22

Coupang credit card transaction volume surpasses levels recorded before data leak SEOUL, May 07 (AJP) - April credit card transaction volume for South Korean e-commerce leader Coupang surged back to record levels, signaling that the platform's market dominance remains intact. The rebound follows a massive personal information breach revealed late last year, according to mobile index data released by artificial intelligence firm IGAWorks on Thursday. IGAWorks' data showed that monthly credit and debit card payments for Coupang reached 4.6 trillion won ($3.1 billion) in April. This represents a 3.8 percent increase compared to October 2025, the month before the company officially announced the data leak. March payments followed a similar trajectory, rising 4.1 percent above October levels and 3.2 percent above November levels. The figures indicate that consumer spending stabilized quickly after an initial dip following the privacy scandal. The platform's influence is particularly strong among South Korea's most affluent shoppers. Roughly 90 percent of all high-spending e-commerce users are active on the platform. Industry analysts attribute this resilience to the convenience of the platform's overnight "Rocket Delivery" service and its "Wow membership program," similar to Amazon's "Prime" membership program. The high level of dependency on these daily services has made it difficult for South Korean online shoppers to migrate to rival platforms. Meanwhile, Coupang founder Kim Beom-seok said during an earnings call on Wednesday that sales growth hit a low point in January but improved significantly throughout the spring. He noted that the speed of recovery accelerated through February and March. By late April, we had recovered about 80 percent of the Wow members who had canceled their subscriptions after the privacy incident," Kim Beom-seok said. He added that the vast majority of existing customers and members did not leave the platform following the breach. Performance across the broader domestic market was mixed during this period. While Gmarket saw a 12 percent rise in credit card transactions in April, 11st experienced a 9.6 percent decline. Global competitors AliExpress and Temu also saw transaction volumes fall by 7.2 percent and 2.4 percent, respectively. The recovery in transaction volume contrasts with the company's recent financial performance. Coupang's parent company, Coupang Inc., reported a first-quarter operating loss of 354.5 billion won, or 244 million dollars, marking its first deficit in seven quarters. Higher operational costs fueled the deficit as selling and administrative expenses jumped 17 percent to 3.72 trillion won. The company also saw its active user base decline by 700,000 during the first quarter to a total of 23.9 million people. This shift has had a direct impact on the company's workforce. According to data from the National Pension Service of South Korea, direct employment at Coupang and its logistics subsidiaries fell by approximately 3,600 people in March alone. The total headcount for the company's direct employees stood at 87,135 at the end of March. 2026-05-07 10:16:10

Hyundai Motor shares rise on expectations for Boston Dynamics’ Atlas developer model reveal Hyundai Motor shares climbed in early trading on expectations surrounding the release of a developer model of the humanoid robot Atlas. According to the Korea Exchange, Hyundai Motor was trading at 567,000 won as of 9:58 a.m. on the 7th, up 3.09% from the previous session. Market watchers said investor sentiment was boosted by a recently released video of Atlas’ developer model from Boston Dynamics, Hyundai Motor Group’s robotics affiliate. The video was first posted on YouTube and showed the robot’s movements. Brokerages also pointed to the potential for an expanded robotics business. Daol Investment & Securities said it expects a “structural rise in valuation” tied to commercialization on multiple fronts, citing Boston Dynamics’ commercialization, Nvidia’s adoption of “AlphaMayo,” and Waymo’s rollout of an autonomous-vehicle foundry business. It maintained a “buy” rating and a target price of 740,000 won. Shinyoung Securities said a key variable for Hyundai Motor’s share price in the second half of the year will be whether the company consolidates Boston Dynamics’ production entity into its financial statements. Shinyoung said that if Boston Dynamics’ production and related operations are consolidated, it could be a strong driver for a valuation re-rating. If the current equity-method structure remains, it said, the outcome would fall short of market expectations. It added that, from an earnings perspective, it is watching raw-material cost pressures from rising prices and the size and timing of settlements within the supply chain. Shinyoung maintained a “buy” rating and a target price of 630,000 won. * This article has been translated by AI. 2026-05-07 10:09:00

DP Floor Leader Han Byung-do Urges Vote on Constitutional Amendment, Calls on PPP to Join Han Byung-do, the Democratic Party’s floor leader who won a second term, said May 7 he would push for swift passage of a constitutional amendment, move quickly to form the National Assembly’s second-half leadership and complete the Lee Jae-myung government’s legislative agenda. Speaking at his first policy coordination meeting since taking office again, Han warned the People Power Party, which has adopted opposition to the amendment as its party line, that it would face “irreversible public judgment” if it continues to block the measure. Han said the National Assembly would convene a plenary session later in the day to vote on the amendment drafted jointly by the Democratic Party and five opposition parties. He said the proposal would add the spirit of the Bu-Ma Democratic Protests and the May 18 movement to the Constitution’s preamble, strengthen parliamentary control over declarations of martial law and spell out the state’s duty to pursue balanced national development. Responding to the People Power Party’s claim that the proposal is an election-driven pledge, Han challenged the party to specify which provisions it considers political. He said giving the Assembly stronger authority over “illegal martial law” is intended to prevent dictatorship, and added that, as President Lee Jae-myung has said, the public would view opponents of the amendment as defending illegal martial law. Han urged People Power Party lawmakers to take part in the vote, saying those with “even a shred of conscience and conviction” should not stay away. If the party avoids what he called a historic responsibility, he said, it would face “irreversible public judgment.” Han also said the second-half organization of the 21st National Assembly took 54 days, and warned against wasting time while neglecting people’s livelihoods. He said he would prepare the new Assembly lineup without gaps to avoid even a brief constitutional vacuum. He said the Assembly would complete the election of the second-half speaker and deputy speakers at a plenary session on May 20, then promptly choose standing committee chairs to begin legislation aimed at addressing the Middle East crisis and stabilizing livelihoods. Han said he would also work to complete the Lee government’s major policy agenda through legislation by the end of this year.* This article has been translated by AI. 2026-05-07 10:06:44

LG Electronics Launches All-in-One Heat Pump Boiler to Expand Electric Heating in South Korea LG Electronics is launching an all-in-one heat pump system boiler in South Korea, aiming to capitalize on the shift toward electrification in the heating market. The company plans to expand adoption of residential heat pumps by offering a high-efficiency electric alternative in a market still dominated by gas boilers. The company said Thursday the new product combines the outdoor unit and key system components into a single package. That design eliminates the need for separate refrigerant piping work and can use a home’s existing hot-water pipes, making it easier to meet demand for boiler replacements. LG Electronics has operated a domestic system boiler business since 2011 and has supplied residential all-in-one heat pump system boilers since 2018. The new model uses an air-source heat pump that draws heat from the air to provide space heating and hot water. LG Electronics said it can deliver about four to five times as much heat energy as the electricity it consumes, cutting energy costs by about 40% to 60% compared with fossil-fuel boilers. LG Electronics said the product meets standards tied to a government program to deploy 3.5 million heat pumps by 2035 as part of a plan to cut greenhouse gas emissions by 5.18 million metric tons. While upfront costs are higher than for conventional boilers, the company said government subsidies and energy savings could allow payback within five to six years, depending on usage conditions. The company also highlighted environmental features. It uses R32 refrigerant, which it said has a global warming potential 68% lower than R410A, a refrigerant commonly used in heating and cooling equipment. LG Electronics said the system can supply high-temperature hot water even in low winter temperatures and supports remote control through the LG ThinQ app. Industry observers say South Korea’s heating market remains centered on city-gas boilers, but demand for heat pumps could rise first in new housing and public buildings as carbon-cutting rules and electrification policies take hold. LG Electronics said its heat pump business has already been tested in Europe. At MCE 2026, a global HVAC exhibition held recently in Milan, Italy, both its residential heat pump outdoor and indoor units received awards. The company also cited supply deals for a new housing complex in the Netherlands and projects serving more than 100,000 households across five countries in southern Europe. LG Electronics is also expanding its heat pump lineup beyond residential use to commercial and industrial markets. It supplies its Multi V i system air conditioners to large commercial facilities and is promoting large chillers for industrial sites such as data centers, factories and power plants. The company operates cold-climate research centers in South Korea, Alaska in the United States, Oslo in Norway and Harbin in China to develop next-generation technologies. Lee Jae-sung, president and head of LG Electronics’ ES Business Division, said the company will work to develop the domestic market based on technology and business experience built in Europe and other global markets.* This article has been translated by AI. 2026-05-07 10:05:54

Hyundai Motor Launches Updated Mighty, Pavise and Xcient Trucks, Including Hydrogen Model Hyundai Motor Co. on Wednesday launched three updated commercial truck lines, including a refreshed hydrogen fuel cell model, as it seeks to bolster its position in South Korea’s sluggish freight-truck market. The automaker said it released the 2027 “The New Mighty” and “The New Pavise,” along with the 2027 “Xcient” and “The New Xcient Hydrogen Fuel Cell Truck.” Hyundai said the design updates create a shared family look across the Xcient, Pavise and Mighty lineup, reinforcing a tougher brand identity. Hyundai introduced the Mighty in 2015 and the Pavise in 2019, and is now rolling out the latest facelifted versions. The company said it significantly improved product competitiveness, citing a passenger-car-like driver’s seat and advanced driver-assistance systems. The launches come as the domestic freight-truck market has recently weakened. According to the Ministry of Land, Infrastructure and Transport’s vehicle registration data, South Korea had 3,695,232 freight trucks last year, down 0.6% from 3,716,743 the year before. The decline appears to reflect a combination of a logistics slowdown and fewer drivers. Hyundai said it has released a facelifted Xcient hydrogen fuel cell truck for the first time in four years, aiming to move closer to leading the market for eco-friendly commercial vehicles. Hydrogen trucks, suited for medium- and long-distance hauling, emit almost no carbon dioxide while driving and are seen as a key option for cleaner logistics. Under guidelines from the U.N. Intergovernmental Panel on Climate Change, hydrogen vehicles were assessed as delivering about a 13,000-metric-ton carbon reduction effect compared with diesel commercial trucks over a cumulative 20 million kilometers of driving, the company said. Analysts also say competition in the commercial-vehicle market is shifting toward low-emission models. As South Korea expands its Nationally Determined Contribution targets, domestic commercial-vehicle brands have been rolling out electric- and hydrogen-based freight trucks. Tata Daewoo Mobility has launched the midsize electric truck “Gixen,” and MAN Truck & Bus Korea has said it plans to introduce an electric truck in the country. “Mighty, Pavise and Xcient, which support Korea’s logistics and construction sites, have evolved into tougher and smarter vehicles by actively reflecting customer feedback,” a Hyundai official said. “We will continue innovating as a reliable partner that helps customers succeed in their commercial-vehicle business.”* This article has been translated by AI. 2026-05-07 10:04:58

South Korea to Expand Community Solar, Aiming for 700 'Sunlight Income Villages' This Year The South Korean government is moving to expand resident-led solar power projects, gathering on-the-ground feedback as it pushes to build more than 700 “Sunlight Income Villages” this year through regulatory tweaks and stronger administrative support. The Ministry of Climate, Energy and Environment said it held a policy forum on Thursday morning at the Han River Flood Control Office in Seoul’s Seocho district. Climate Minister Kim Seong-hwan attended along with members of the Sunlight Income Village task force, energy-related agencies, ReSCO companies, experts, industry representatives and financial institutions. Participants discussed hurdles in implementation, hands-on support and post-completion management. Sunlight Income Villages are community-participation projects in which residents join solar generation through cooperatives and return profits to the local community. The government views the program as a model that can expand renewable energy while boosting local economies, and expects wider solar deployment to raise energy self-sufficiency at the community level. Key topics included financing, grid connection, securing sites and permitting procedures. Based on the forum, the ministry said it will review ways to streamline administrative steps that developers have sought to improve, including facility confirmation under the Renewable Portfolio Standard, technical reviews and pre-use inspections. It also said it will use a public-private field support team and ReSCO partners to assist projects from cooperative formation through operations, and will strengthen checks on profit distribution after completion. Kim said the initiative is “the most practical energy transition model” in which residents participate and share benefits, pledging to create more than 700 villages this year and quickly lay the groundwork for nationwide expansion. He also vowed to tighten oversight from planning through operations so projects proceed “more transparently and stably.”* This article has been translated by AI. 2026-05-07 10:04:08

KOSPI briefly tops 7,500 for first time as AI chip rally powers Seoul stocks SEOUL, May 07 (AJP) - South Korean stocks surged to another record Thursday, with the benchmark KOSPI briefly topping the 7,500 mark for the first time as easing oil prices, renewed optimism over a potential U.S.-Iran agreement and another global surge in AI-linked chip shares fueled heavy buying in Seoul’s largest technology stocks. The main index climbed as high as 7,531.88, breaking above the 7,500 mark after Wall Street’s three major indexes closed sharply higher overnight. The KOSDAQ also edged up 0.36 percent to 1,214.50 in early trading. The rally was again led by semiconductor heavyweights, which continued to dominate market momentum. Samsung Electronics rose 2.07 percent to trade at 271,500 won and SK hynix gained 1.12 percent to 1,619,000 won. The advance followed another record-setting day in the United States, where the Dow Jones Industrial Average rose 1.24 percent while the S&P 500 and Nasdaq Composite climbed 1.46 percent and 2.02 percent, respectively, both setting fresh all-time highs. Investor sentiment improved after U.S. President Donald Trump said Iran appeared willing to abandon its nuclear ambitions and pursue a deal, raising hopes that tensions in the Middle East could ease despite lingering geopolitical uncertainty. Oil prices tumbled on expectations that a broader regional conflict could be avoided, easing inflation concerns that had weighed on global equities in recent weeks. Brent crude fell 7.83 percent to settle at $101.27 a barrel, while West Texas Intermediate crude dropped 7.03 percent to $95.08. The global chip rally accelerated after U.S. chipmaker AMD posted surprisingly strong earnings, sending its shares up 18 percent overnight and lifting broader AI-related stocks. NVIDIA climbed 5.77 percent after announcing plans to expand optical manufacturing facilities in the United States with Corning, while Intel gained 4.49 percent and Micron Technology advanced 4.12 percent. The momentum spilled into Seoul, with semiconductor, auto and heavy industry shares remaining resilient despite heavy foreign selling, as retail investors stepped in to support the market after its recent record-breaking surge. Auto stocks traded higher, with Hyundai Motor jumping 5.45 percent to 580,000 won and Kia advancing 2.91 percent to 159,100 won. Among defense and heavy industry names, HD Hyundai Heavy Industries climbed 3.55 percent to 671,000 won, and Doosan Enerbility surged 6.85 percent to 135,700 won. In the financial sector, Samsung Life Insurance edged up 0.34 percent to 299,000 won, while KB Financial Group slipped 0.38 percent to 158,300 won. Battery-related shares underperformed the broader market, with LG Energy Solution falling 1.66 percent to 474,000 won. Hanwha Aerospace also dropped 3.21 percent to 1,387,000 won despite continued strength in defense-related plays overall. Market concentration has intensified rapidly as Korea’s equity rally becomes increasingly dependent on semiconductor heavyweights. As of Wednesday’s close, the combined market capitalization of Samsung Electronics common shares, Samsung Electronics preferred shares and SK hynix reached about 2,848 trillion won, accounting for roughly 47 percent of the KOSPI’s total market value of 6,058 trillion won and responsible for nearly 80 percent behind KOSPI rally. Including related affiliates such as SK Square, Samsung C&T and Samsung Life Insurance pushes that figure above 50 percent, underscoring growing concerns that the market’s gains are becoming narrowly concentrated around a small group of conglomerate-linked AI beneficiaries. The divergence between large and small stocks has widened sharply in recent weeks. Over the past month, the KOSPI large-cap index rose 38 percent, compared with gains of 21 percent for mid-cap shares and 11 percent for small-cap stocks. Since the start of the year, when the KOSPI began its explosive climb on AI-driven optimism, large-cap stocks have surged 82 percent, more than four times the gain posted by small-cap shares. Even during Wednesday’s historic surge into the 7,000 milestone, large-cap stocks climbed 7.22 percent, while mid-cap shares were nearly flat and small-cap stocks declined. The growing divide reflects continued investor demand for large-cap stocks with stronger earnings outlooks amid ongoing geopolitical and energy market uncertainty. Foreign investors bought a net 7.23 trillion won worth of KOSPI shares over the past month, with most inflows concentrated in Samsung Electronics, SK hynix and Doosan Enerbility. Brokerages expect momentum in semiconductor, power equipment, defense, brokerage and renewable-energy shares to continue through the first half, as global AI infrastructure spending and liquidity-driven foreign inflows continue to dominate market direction. 2026-05-07 10:04:03

Korea Fair Trade Commission to Brief Big Conglomerates on Disclosure Rules South Korea’s antitrust regulator will hold tailored briefings online and in person for disclosure officers at major conglomerates, aiming to prevent repeat violations.  The Korea Fair Trade Commission said May 7 it will host the sessions with the Korea Chamber of Commerce and Industry from May 11 to 13 for companies designated as disclosure-target business groups, commonly known as large conglomerates.  The commission holds quarterly briefings each year to improve understanding of disclosure requirements and curb recurring violations. Groups that breach the disclosure system can face corrective orders and administrative fines of up to 100 million won.  Last month, the commission newly designated 11 groups as large conglomerates: Line, the Korea Teachers’ Credit Union, Woongjin, Shielders, Daemyung Chemical, Toss, Kolmar Korea, Heesung, Orion, QCP Group and Iljin Global. Including the newly designated groups, the total number of large conglomerates in South Korea is 102. At the briefings, the commission will also explain obligations related to status disclosures, disclosures of large internal transactions, and disclosures of key matters for unlisted companies, reflecting cases in which the controlling person of some groups has changed to a natural person. It will provide additional guidance tied to this year’s group designations and set aside time for questions and answers, offering company-specific assistance.  The commission said it will continue outreach online. In the first half of the year, it plans to produce explanatory videos on large internal transactions, key matters for unlisted companies and group status disclosures, and release them on its official YouTube channel. In the second half, it plans to hold “on-site disclosure briefings” for conglomerates based outside the capital region. * This article has been translated by AI. 2026-05-07 10:03:21