LG Energy Solution Shares Surge 11% on $1.6 Billion ESS Supply Deal LG Energy Solution's shares have surged following the announcement of a significant energy storage system (ESS) battery supply contract with a major U.S. energy company. As of 10 a.m. on May 28, LG Energy Solution's stock was trading at 425,500 won, up 42,000 won (10.95%) from the previous trading day, according to the Korea Exchange. The company revealed that it has signed a contract with DTE Energy, Michigan's largest integrated energy company, for the supply of ESS batteries totaling 6 gigawatt-hours (GWh). The contract is valued at $1.6 billion (approximately 2.4 trillion won). DTE Energy, headquartered in Detroit, Michigan, plans to use this contract to support eight key power grid projects, including the Oracle AI data center project being developed in Saline Township, Michigan. With increasing demand for AI data centers and renewable energy integration, there is growing optimism about the North American ESS market. Investors view LG Energy Solution's acquisition of a large utility customer positively. Notably, the supply will be produced primarily at the company's facility in Holland, Michigan, enhancing its local supply chain competitiveness.* This article has been translated by AI. 2026-05-28 10:27:34

LG Energy Solution Shares Surge 11% Following $1.6 Billion ESS Supply Deal LG Energy Solution's shares have surged following the announcement of a substantial energy storage system (ESS) battery supply contract with a major U.S. energy company. As of 10 a.m. on the Korean Exchange, LG Energy Solution's stock rose by 42,000 won (10.95%) to 425,500 won compared to the previous trading day. The company announced that it has signed a contract with DTE Energy, Michigan's largest integrated energy company, for the supply of ESS batteries totaling 6 gigawatt-hours (GWh). The contract is valued at $1.6 billion (approximately 2.4 trillion won). DTE Energy, based in Detroit, Michigan, is a large power and energy company. The contract will support eight key power grid projects, including the Oracle AI data center project being developed in Saline Township, Michigan. With growing demand for AI data centers and renewable energy integration, expectations for growth in the North American ESS market are rising. Investors view LG Energy Solution's acquisition of a major utility customer positively. Notably, the supply will be produced primarily at the company's manufacturing facility in Holland, Michigan, enhancing its local supply chain competitiveness.* This article has been translated by AI. 2026-05-28 10:27:23

Explosions Reported Near Iranian Port City Amid U.S.-Iran Negotiations Reports have emerged of explosions in southern Iran near the strategic Hormuz Strait as U.S.-Iran negotiations for a ceasefire face significant challenges. According to local news outlets, including the Fars and Mehr news agencies, three explosions were heard around 1:30 a.m. local time on May 28, east of the southern port city of Bandar Abbas. Following the blasts, the air defense system in Bandar Abbas was reportedly activated for several minutes. Fars news agency also reported similar sounds in the areas surrounding Sirik and Jask, near the Hormuz Strait. Mehr news agency stated that the situation is currently under control and there is no cause for concern following the explosions east of Bandar Abbas. However, the exact locations and causes of the explosions have not yet been confirmed. Local media indicated that authorities are conducting investigations to determine the source and reason for the blasts. This marks the second instance of explosions being reported in southern Iran within two days. Previously, U.S. Central Command announced that it had conducted defensive strikes against Iranian military facilities and vessels threatening U.S. troops in the region. Iran had warned of immediate retaliation, but it remains unclear if any such actions have taken place. The recent explosions come as the U.S. and Iran continue to engage in tense negotiations over a memorandum of understanding aimed at achieving a ceasefire.* This article has been translated by AI. 2026-05-28 10:25:00

U.S. Military Strikes Iranian Military Facilities Near Hormuz Strait The U.S. military has reportedly conducted additional strikes on Iranian military facilities deemed a threat to U.S. and commercial maritime traffic in the Strait of Hormuz. Tensions in the area have escalated following local reports of explosions near the southern Iranian port city of Bandar Abbas. Reuters cited a U.S. official on May 27, who confirmed that the military targeted Iranian military sites in the Strait of Hormuz that posed a threat. The official, who spoke on condition of anonymity, also stated that U.S. forces intercepted and shot down several Iranian drones that posed similar threats. These reports emerged after Iranian media indicated that explosions were heard near the Strait of Hormuz. According to Iranian news agencies Fars and Mehr, three explosions were reported around 1:30 a.m. local time on May 28, east of Bandar Abbas. It was also reported that air defense systems were activated for several minutes following the explosions. Fars news agency noted that similar sounds were heard in the areas surrounding Sirik and Jask, which are near the strategic waterway. Mehr news agency reported that the situation was under control following the explosions and there was no cause for concern. However, local media have not confirmed the exact locations or causes of the explosions. Authorities are reportedly working to determine the source and cause of the sounds. The explosions in southern Iran come just two days after U.S. Central Command announced defensive strikes against Iranian military facilities and vessels that threatened U.S. forces in the region.* This article has been translated by AI. 2026-05-28 10:24:47

U.S. Military Strikes Additional Iranian Military Facilities Near Hormuz Strait U.S. military forces have reportedly targeted additional Iranian military facilities deemed a threat to U.S. and commercial maritime traffic in the Strait of Hormuz. This follows local reports of explosions near the southern Iranian port city of Bandar Abbas, heightening tensions in the region. Reuters, citing a U.S. official on May 27, reported that the military struck Iranian facilities identified as posing a threat in the Strait of Hormuz. The official, who spoke on condition of anonymity, also noted that U.S. forces intercepted and shot down several Iranian drones that posed similar threats. These reports emerged after Iranian media indicated that explosions were heard near the Strait of Hormuz. According to Iranian news agencies Fars and Mehr, three explosions were reported around 1:30 a.m. local time on May 28, east of Bandar Abbas. It was also reported that air defense systems were activated for several minutes following the blasts. Fars news agency mentioned that similar sounds were heard in the areas surrounding Sirik and Jask, which are near the strategically significant Strait of Hormuz. Mehr news agency stated that following the explosions east of Bandar Abbas, the situation is under control and there is no cause for concern. However, Iranian media have not confirmed the exact locations or causes of the explosions. Authorities are reportedly conducting investigations to determine the source and cause of the sounds. The explosions in southern Iran come two days after U.S. Central Command announced defensive strikes against Iranian military facilities and vessels that posed a threat to U.S. forces in the region.* This article has been translated by AI. 2026-05-28 10:24:33

U.S. Military Strikes Additional Iranian Military Facilities Near Hormuz Strait The U.S. military has reportedly struck additional Iranian military facilities deemed a threat to U.S. and commercial maritime traffic in the Strait of Hormuz. This follows local reports of explosions near the southern Iranian port city of Bandar Abbas, indicating heightened tensions in the region. Reuters, citing U.S. officials, reported on May 27 that the military targeted Iranian facilities identified as posing a threat in the Strait of Hormuz. An anonymous source stated that U.S. forces also intercepted and shot down several Iranian drones that posed similar threats. These reports emerged after Iranian media indicated that explosions were heard near the Strait of Hormuz. According to Iranian news agencies Fars and Mehr, three explosions were reported around 1:30 a.m. local time on May 28, east of Bandar Abbas, with air defense systems activated for several minutes thereafter. Fars reported similar sounds near the strategic waterways of Sirik and Jask, while Mehr stated that the situation is currently under control and there is no cause for concern following the explosions east of Bandar Abbas. However, local media have not confirmed the exact locations or causes of the explosions, and authorities are reportedly investigating the source and reasons behind them. The explosions in southern Iran come just two days after the U.S. Central Command announced defensive strikes against Iranian military facilities and vessels that threatened U.S. personnel in the region.* This article has been translated by AI. 2026-05-28 10:24:18

K-chip and defense boom reshapes career paths for Korea's elite talent pipeline SEOUL, May 28 (AJP) - Over the past year, South Korea's manufacturing powerhouses — semiconductors and defense — have staged an epic rise with soaring share prices and record earnings reshaping the ambitions of the country's brightest young people. Semiconductor departments at Yonsei University and Korea University, once considered niche engineering tracks, are now competing directly with medical schools for top science students. The Air Force, meanwhile, has become one of the country's most sought-after military branches as recruits look to gain experience tied to careers in aerospace and defense. Jongro Academy, one of South Korea's largest cram schools focused on top-tier university admissions, reports that admission cutoffs for semiconductor contract departments tied to Samsung Electronics and SK hynix climbed into the top 1 percent range this year. Korea University's semiconductor engineering department recorded a 1.47 cutoff in its academic excellence admissions track for 2026, a sharp improvement from 2.40 in 2021. Some admissions analysts say the programs are now competitive with lower-tier medical schools and could even surpass certain engineering departments at Seoul National University this year. Lim Sung-ho, head of Jongro Academy, said the admissions market is undergoing a historic transformation. "Regional medical schools and semiconductor contract departments at Yonsei and Korea universities have become equivalent choices," Lim said. "I have never seen anything like this in my 30 years working in this field." The trend has become so widespread that South Koreans have coined a new admissions term, "uichihan-yaksu-ban," adding semiconductor departments to the traditional elite grouping of medical, dental, veterinary and pharmacy schools. Hefty salaries, generous stock incentives and surging share prices have broken the long-held dominance of medical schools over the country's top students. The momentum followed a stellar first quarter that reinforced expectations of a memory-chip bonanza during the AI transition. In the first quarter of 2026, Samsung Electronics posted record revenue of 133.9 trillion won and operating profit of 57.2 trillion won, while SK hynix reported revenue of 52.6 trillion won and operating profit of 37.6 trillion won. Their stock prices have surged four- to fivefold in less than a year. Samsung Electronics shares have risen from roughly 80,000 won to 307,000 won over the past year, while SK hynix has jumped from about 230,000 won to 2.24 million won. SK hynix joined the exclusive $1 trillion valuation club this week, following Samsung Electronics. Samsung's semiconductor staff are set to receive bonuses of up to 626 million won this year, while SK hynix employees received profit-sharing bonuses worth up to 2,964 percent of annual base salary — pushing some payouts above 300 million won, roughly the median annual income of ordinary Korean salaried workers. The scale of the payouts has become a national talking point, with some workers reportedly abandoning overseas MBA and training programs in order to remain eligible for bonuses. The long-neglected defense sector is also drawing top talent. The Air Force is attracting unprecedented numbers of applicants as young men increasingly link military service to future careers in the defense and aerospace industries. Data submitted by the Military Manpower Administration to Democratic Party lawmaker Park Sun-won showed that 80,968 people applied this year for 18,000 Air Force enlisted positions, producing a competition rate of 449.8 percent. The March intake reached 936.4 percent, with nearly 15,000 applicants competing for 1,600 positions — the highest monthly figure in at least five years. February's competition rate stood at 891.9 percent, while April reached 849.6 percent. Applications have climbed rapidly in recent years. Total Air Force applicants rose from 46,313 in 2022 to 55,591 in 2023 and 92,664 in 2024. The overall competition rate increased from 257.3 percent in 2022 to 496.5 percent in 2024, before easing slightly this year. The Air Force, once avoided because its mandatory service period is longer than the Army's, is increasingly viewed as a gateway into aerospace engineering, aircraft maintenance, communications systems, software and drone technology. The turning point coincides with the dramatic rise of the defense segment amid sprawling wars in Ukraine and the Middle East. Defense exports hit a record $17.3 billion in 2022 after overseas contracts involving the K2 tank, K9 self-propelled howitzer, FA-50 light attack aircraft and Chunmoo rocket launcher. The boom accelerated after the United Arab Emirates signed a deal for the Cheongung-II missile defense system in 2021, followed by Poland's massive orders for Korean weapons systems in 2022. Companies including Hanwha Aerospace, Korea Aerospace Industries, LIG Nex1 and Hanwha Systems are expanding recruitment in aerospace, radar, satellites, electronic warfare and software engineering. The enthusiasm for semiconductors and defense also reflects broader anxieties among Korean youth over slowing social mobility and weakening job security outside a handful of strategic industries. Artificial intelligence is beginning to reshape hiring in accounting, law and office administration, while semiconductors and defense are increasingly viewed as rare sectors still offering rising wages, export growth and long-term industrial investment. 2026-05-28 10:22:15

Gmarket to End Homeplus Same-Day Delivery Service Gmarket, an e-commerce platform under the Shinsegae Group, will discontinue its same-day delivery service for Homeplus. This decision comes as Homeplus undergoes corporate restructuring amid ongoing financial difficulties and the suspension of operations at some of its stores. According to the retail industry on May 27, Gmarket plans to end the Homeplus same-day delivery service on June 30. Gmarket launched the 'Homeplus Same-Day Delivery Specialty Section' in July 2015, allowing customers to receive orders placed by 4 p.m. on the same day. The service offered fresh produce, meat, and household items based on Homeplus's nationwide store network. Gmarket partnered with Homeplus to meet the demand for fresh food among online shoppers, leveraging the supermarket's logistics network for quick deliveries.However, since Homeplus filed for corporate rehabilitation in March 2022 to initiate proactive restructuring, the service has faced disruptions. In September and October of last year, same-day delivery was suspended at several locations, including Gayang, Siheung, and Jeonju Wansan.Recently, there was some hope for improvement when Homeplus sold its supermarket division, Homeplus Express, to NS Shopping, a subsidiary of Harim Group. However, financial challenges remain significant. Homeplus is expected to receive approximately 120 billion won from the sale by the end of next month, but reports indicate difficulties in paying employee salaries and normalizing supply deliveries.Currently, Homeplus has temporarily suspended operations at 37 of its 104 hypermarket locations until July 3. This reduction in store operations is likely to weaken the foundation for online same-day delivery services.As uncertainty grows regarding Homeplus's operational status, industry insiders believe Gmarket's decision to end the service reflects this instability. One industry source stated, "Given that Homeplus has suspended operations at 37 stores for nearly two months, Gmarket likely determined it could not maintain the same-day delivery service as before."A Gmarket representative noted, "We plan to introduce various delivery services in the future to provide a better online shopping experience."Meanwhile, the deadline for the approval of Homeplus's rehabilitation plan is set for July 3. If a buyer is not found by then, the possibility of liquidation cannot be ruled out.* This article has been translated by AI. 2026-05-28 10:22:03

Gmarket to End Homeplus Same-Day Delivery Service Gmarket, an e-commerce platform under the Shinsegae Group, will discontinue its same-day delivery service for Homeplus. This decision comes as Homeplus undergoes corporate restructuring amid ongoing store closures and financial difficulties, leading to the end of the Homeplus dedicated section that has operated for nearly a decade.According to the retail industry on the 27th, Gmarket plans to terminate the Homeplus same-day delivery service effective June 30. Gmarket launched the 'Homeplus Same-Day Delivery Specialty Section' in July 2015, allowing customers to receive orders placed by 4 p.m. the same day. The service has offered fresh produce, meats, and household items based on Homeplus's nationwide store network. Gmarket partnered with Homeplus to meet the demand for fresh food among online shoppers, utilizing the supermarket's logistics infrastructure for quick delivery.However, the service has faced disruptions since Homeplus filed for corporate rehabilitation in March of last year to initiate proactive restructuring. In September and October of last year, same-day delivery services were suspended at several locations, including Gayang, Siheung, and Jeonju Wansan.Recently, there were hopes for a turnaround after Homeplus sold its supermarket division, Homeplus Express, to NS Shopping, a subsidiary of Harim Group. However, the financial challenges remain significant. Homeplus is expected to receive approximately 120 billion won from the sale by the end of next month, but reports indicate difficulties in paying employee salaries and normalizing supply deliveries.Notably, Homeplus has temporarily suspended operations at 37 of its 104 hypermarket locations until July 3. This reduction in store operations is likely to weaken the foundation for online same-day delivery services.As uncertainty looms over Homeplus's ability to resume normal operations, industry insiders believe Gmarket's decision to end the service reflects this reality. One industry source stated, "Given that Homeplus has suspended operations at 37 stores for nearly two months, Gmarket likely determined it was unsustainable to maintain the same-day delivery service as before."A Gmarket representative commented, "We plan to introduce various delivery services in the future to enhance the online shopping experience."Meanwhile, the deadline for Homeplus's rehabilitation plan approval is set for July 3. If a buyer is not found by then, liquidation remains a possibility.* This article has been translated by AI. 2026-05-28 10:21:52

Gmarket to End Homeplus Same-Day Delivery Service Gmarket, an e-commerce platform under the Shinsegae Group, will discontinue its same-day delivery service for Homeplus. This decision comes as Homeplus undergoes corporate rehabilitation amid ongoing store closures and financial difficulties, leading to the termination of the Homeplus dedicated section that has been in operation for nearly a decade.According to the retail industry on the 27th, Gmarket plans to end the Homeplus same-day delivery service on June 30. Gmarket launched the 'Homeplus Same-Day Delivery Specialty Section' in July 2015, allowing customers to receive orders placed by 4 p.m. the same day. The service offered fresh produce, meat, seasonal fruits, vegetables, and household goods based on Homeplus's nationwide store network. At that time, Gmarket partnered with Homeplus to meet the demand for fresh products among online shoppers, utilizing the large supermarket's logistics network for quick delivery.However, the service has faced disruptions since Homeplus filed for corporate rehabilitation in March of last year to initiate proactive restructuring. In September and October of last year, same-day delivery services were suspended at some locations, including Gayang, Siheung, and Jeonju Wansan.Recently, there were hopes for a turnaround as Homeplus sold its supermarket division, Homeplus Express, to NS Shopping, a subsidiary of Harim Group. However, the financial challenges remain significant. Homeplus is expected to receive approximately 120 billion won from the sale of Express by the end of next month, but reports indicate difficulties in paying employee salaries and normalizing supply deliveries.Notably, Homeplus has temporarily suspended operations at 37 of its 104 large supermarket locations until July 3. This reduction in store operations is likely to weaken the foundation for online same-day delivery services.As uncertainty looms over Homeplus's ability to resume normal operations, industry insiders believe Gmarket's decision to end the service reflects this reality. One industry source stated, "Given that Homeplus has suspended operations at 37 stores for nearly two months, Gmarket likely determined it was difficult to maintain the same-day delivery service as before."A Gmarket representative commented, "We plan to introduce various delivery services in the future to provide a better online shopping experience."Meanwhile, the deadline for the approval of Homeplus's rehabilitation plan is set for July 3. If a buyer is not found by then, the possibility of liquidation cannot be ruled out.* This article has been translated by AI. 2026-05-28 10:21:30