Seoul stands firm on building nuclear submarines domestically SEOUL, June 05 (AJP) - South Korea’s presidential office said Friday there has been no major change to plans to build nuclear-powered submarines domestically, as Seoul and Washington seek to make tangible progress in related talks by the end of the year. A senior presidential official told reporters that South Korea and the U.S. held productive discussions on nuclear-powered submarines, uranium enrichment and spent fuel reprocessing. “Representatives from various sectors came and discussed enrichment and reprocessing issues as well as nuclear submarine issues,” the official said. “We have not set a specific deadline, but we want to move forward quickly.” The official stressed that South Korea’s plan to build nuclear-powered submarines at home remains largely unchanged, while noting that new agreements are needed for enrichment and reprocessing, as well as to prevent proliferation. The official said discussions on enrichment and reprocessing have only recently begun in earnest, adding that they are based on South Korea’s nonproliferation commitment and trust in that pledge. “We must keep that commitment, and on that basis, we will seek further coordination and cooperation with the U.S.,” the official said. Asked about coordination with Washington over the timeline for the transfer of wartime operational control (OPCON), the official said differences between the allies are not as large as many believe. “Contrary to what many of you may think, South Korea and the U.S. do not have major differences over OPCON,” the official said. The official said efforts to meet the conditions for the transfer have continued for more than a decade, adding that there had been an assessment several years ago that more than 90 percent of the conditions had been met. The official also said the gap over timing is limited. “There is not a big difference over the timing either. There is a gap of about a year, or a little more than a year, and I do not see that as impossible to narrow,” the official said. South Korea has been seeking to regain wartime operational control by 2028, while U.S. Forces Korea Commander Gen. Xavier Brunson presented the first quarter of 2029 as the target timeline during a House Armed Services Committee hearing in April. The official said Seoul and Washington will continue coordinating the final stage of conditions and timing, while ensuring that the allies’ combined defense capabilities are not weakened. 2026-06-05 17:23:58

KT Alpha Shopping to Host Mid-Year Review Festival Focused on Self-Care KT Alpha Shopping announced on June 5 that it will hold its "2026 Mid-Year Review Festival" to assess the first half of the year. The event will take place from June 8 to June 27. KT Alpha Shopping plans to showcase popular brands and products across key categories such as fashion, beauty, food, and home goods. Ahead of the festival, KT Alpha Shopping analyzed sales data from the first half of the year and selected ten brands, highlighting "self-care" as the year's consumer keyword. The company noted a significant increase in demand for products related to health, beauty, body management, and asset management, reflecting a growing trend of consumers taking charge of their own well-being. With rising health management needs, the functional footwear brand Shinmisa achieved the top sales in functional shoes. Its "New Baro Slipper," designed with patented technology for posture correction for degenerative joints, reached cumulative sales of 10 billion won exclusively on KT Alpha Shopping. Sales of diet-related products also surged. The "Bienalsin Diet Probiotics" surpassed 7.4 billion won in orders during the first half of the year. In the beauty category, Dongkook Pharmaceutical's Madeca Cream, which ranked first in annual orders last year, achieved 8 billion won in orders in the first half of this year. In the fashion and accessories category, the women's fashion brand Benetton was highlighted as a popular choice. Benetton recorded cumulative orders of 5.4 billion won and over 60,000 transactions in the first half of the year. In the home goods category, smart safes gained attention. The "DiproMat Casa" smart safe, equipped with Internet of Things features, achieved 112% of its sales target for the first half of the year. A company representative stated, "Self-care products aimed at health, beauty, and asset management have gained popularity among consumers looking to take care of themselves." Meanwhile, KT Alpha reported an all-time high operating profit of 44.2 billion won last year, prompting the company to strengthen its shareholder return policies, including dividend distributions.* This article has been translated by AI. 2026-06-05 17:15:00

Justice Ministry Honors Fallen Correctional Officers in June Memorial On June 5, the Justice Ministry's Correctional Headquarters, led by Lee Hong-yeon, visited the "Memorial Tower for Fallen Correctional Officers" at the Seoul Southern Correctional Facility to pay tribute and honor the spirits of the deceased. The event, held in recognition of the sacrifices made by correctional officers who lost their lives in service to the nation and its citizens, included the participation of families of the fallen officers, adding to its significance. The memorial tower was established in June 2023 to honor the 167 correctional officers who died during the Korean War, and the Correctional Headquarters has continued to hold annual memorial events since then. During the ceremony, Woo Jun-sik, grandson of the late Woo Hak-jong, former director of the Kaesong Youth Detention Center, expressed gratitude for the annual remembrance and hoped that the honor of correctional officers would be preserved. Song Young-sam, president of the Korea Correctional Officers' Association, emphasized the noble sacrifices of their predecessors and called for amendments to the National Cemetery Act to ensure that correctional officers, like military personnel, police, and firefighters, can be buried in national cemeteries without discrimination. Lee Hong-yeon, head of the Correctional Headquarters, stated, "We will never forget the spirit of sacrifice of our fallen correctional officers," offering condolences to the families and pledging to do his utmost to uphold the pride and honor of correctional officers.* This article has been translated by AI. 2026-06-05 17:12:00

South Korea signs free trade deal with Serbia SEOUL, June 5 (AJP) - South Korea has signed a comprehensive economic partnership agreement (CEPA), a broader form of free-trade agreement, with Serbia, the Ministry of Trade, Industry and Resources said on Friday. The agreement, which comes after about two years of negotiations, was signed in Belgrade by South Korean Trade Minister Yeo Han-koo and his Serbian counterpart Jagoda Lazarević. The broader deal goes beyond tariff reductions to include economic and supply-chain cooperation, opening new opportunities for exports and access to critical minerals used in batteries and other strategic industries. Despite its relatively small population of seven million, Serbia has become an increasingly important manufacturing hub in Southeast Europe. It also holds significant reserves of lithium, copper, zinc and other minerals used in batteries and other high-tech industries. Under the agreement, the two countries will eliminate tariffs on more than 90 percent of traded goods, covering over 96 percent of import value. It is expected to particularly benefit South Korean technology exporters, as Serbia, which is not part of the World Trade Organization's Information Technology Agreement (ITA), has agreed to eliminate tariffs of up to 25 percent on semiconductors and electronic products. South Korean automakers are also set to benefit, with tariffs on all automotive parts to be removed immediately and market access expanded for electric and hybrid vehicles. Broader access to the Serbian market will be available, with tariffs to be removed on South Korean exports including instant noodles, roasted seaweed, ginseng, cosmetics, pharmaceuticals and defense-related goods. Beyond trade, the agreement is expected to strengthen supply chains for advanced industries. Tariffs on Serbian raw materials, including lithium, cobalt, nickel, graphite and rare-earth elements, will be eliminated either immediately or phased out within five years, supporting South Korea's battery and advanced manufacturing sectors. It would improve business efficiency, with imported goods cleared within 48 hours of arrival and express shipments processed within six hours. It also includes measures to strengthen intellectual property protection, including efforts to curb online infringement. "The agreement marks a major step forward in economic cooperation between South Korea and Serbia," Yeo said. "It creates a platform for collaboration not only in trade but also in supply chains, energy, critical minerals and future industries such as AI and biotechnology." 2026-06-05 17:10:38

Investors Suffer Losses as Samsung and SK Hynix Stocks Plummet Samsung Electronics and SK Hynix saw significant declines, leading investors in single-stock leveraged exchange-traded funds (ETFs) to incur substantial losses. On June 5, the Korea Exchange reported that Samsung Electronics closed at 329,000 won, down 22,500 won (6.40%) from the previous trading day. SK Hynix also fell by 228,000 won (9.92%), ending at 2,070,000 won. The drop in these leading stocks caused related leveraged products to plummet as well. The KODEX Samsung Electronics Single-Stock Leverage ETF fell 13.24% to close at 25,565 won. Other products, including TIGER Samsung Electronics Single-Stock Leverage (-13.48%), ACE Samsung Electronics Single-Stock Leverage (-14.08%), RISE Samsung Electronics Single-Stock Leverage (-13.77%), and PLUS Samsung Electronics Single-Stock Leverage (-13.34%), also recorded declines exceeding 10%. The losses were even steeper for SK Hynix-related leveraged products. The KODEX SK Hynix Single-Stock Leverage ETF plummeted 20.29%, while TIGER SK Hynix Single-Stock Leverage (-20.11%), RISE SK Hynix Single-Stock Leverage (-20.12%), SOL SK Hynix Single-Stock Leverage (-19.77%), and ACE SK Hynix Single-Stock Leverage (-19.68%) all experienced declines around 20%. The KIWOOM SK Hynix Futures Single-Stock Leverage ETF recorded the largest drop among major products, falling 20.90%. In contrast, inverse products betting against the decline showed strength. The SOL SK Hynix Futures Single-Stock Inverse 2X rose 19.40%, and the PLUS Samsung Electronics Futures Single-Stock Inverse 2X increased by 14.16%. Investor trading activity was intense, with the trading volume for Samsung Electronics and SK Hynix-related single-stock leveraged and inverse ETFs reaching 8.1018 trillion won. This marked a 43.2% increase from the previous day's 5.6579 trillion won and was the highest level since June 2, when volatility in semiconductor stocks surged to 11.7 trillion won. Notably, trading volume for the KODEX SK Hynix Single-Stock Leverage ETF surged to 2.5186 trillion won, nearly doubling from the previous day, while the TIGER SK Hynix Single-Stock Leverage ETF saw 1.2682 trillion won in transactions. The KODEX Samsung Electronics Single-Stock Leverage ETF also reached a trading volume of 2.0878 trillion won, indicating a concentration of investor activity. Analysts suggest that both bargain buying and stop-loss orders contributed to the surge in trading. Market analysts attribute the decline in semiconductor stocks to a combination of shock from Broadcom's guidance and profit-taking. Han Ji-young, a researcher at Kiwoom Securities, stated, "Broadcom's revenue guidance fell short of market expectations, leading to a downturn in U.S. semiconductor stocks. Foreign selling and rising exchange rates added to the supply burden. The recent rapid increase in stock prices also led to profit-taking after the market had already priced in expectations surrounding NVIDIA CEO Jensen Huang's visit to South Korea." Lee Kyung-min, a researcher at Daishin Securities, noted, "Broadcom's AI revenue guidance was below expectations, dampening semiconductor investment sentiment, and profit-taking from the recent surge in stock prices was concentrated. Additionally, the demand for cash ahead of major events like the SpaceX IPO contributed to panic selling." However, analysts do not view this decline as a sign of worsening market conditions. One researcher commented, "This drop is more of a technical adjustment due to the rapid pace of index increases and heightened concentration rather than a fundamental decline. Since profit momentum is still improving, we should consider this volatility as a process of stabilization." They added, "It is also possible that patterns of reducing losses will re-emerge after this sharp drop, and from a valuation perspective, the attractiveness of entering the KOSPI centered on semiconductors is increasing again."* This article has been translated by AI. 2026-06-05 17:03:00

Broadcom Shock Hits Semiconductor Giants Samsung and SK Hynix The decline in U.S. semiconductor stocks has dealt a significant blow to the South Korean market. Following Broadcom's disappointing revenue forecast for AI semiconductors, investor sentiment weakened, leading to substantial drops for both Samsung Electronics and SK Hynix. On June 5, the Korea Exchange reported that Samsung Electronics closed at 329,000 won, down 6.40% from the previous trading day. The stock opened at 333,500 won and fell to as low as 325,000 won during the day, before recovering slightly by the close. SK Hynix also saw a significant decline, finishing at 2,070,000 won, down 9.92% from the previous session. The stock opened at 2,142,000 won and dropped to 2,070,000 won during trading. The sharp decline in major semiconductor stocks is attributed to the recent correction in U.S. semiconductor shares. On the previous night, New York stocks saw Broadcom drop by 12.59%, Micron Technology by 7.74%, SanDisk by 3.92%, and Western Digital by 3.13%. Broadcom's forecast for third-quarter AI semiconductor revenue was set at $16 billion, falling short of market expectations of $17.2 billion, which significantly dampened investor sentiment. Analysts believe this correction is more a result of weakened investor sentiment and profit-taking rather than a fundamental deterioration. Lee Kyung-min, a researcher at Daishin Securities, stated, "Broadcom's guidance of $16 billion for third-quarter AI revenue was below the expected $17.2 billion, leading to a decline in investor sentiment for the semiconductor sector. This prompted profit-taking in domestic semiconductor stocks, resulting in an overall downturn." He added, "Additionally, a decrease in risk appetite and global liquidity outflows, such as the SpaceX IPO, contributed to panic selling, causing the sector to decline collectively."* This article has been translated by AI. 2026-06-05 16:57:00

Chinese Youth Goes Viral for Imitating NVIDIA CEO Jensen Huang A young man from rural China has gone viral online for his impersonation of NVIDIA CEO Jensen Huang. According to the South China Morning Post on June 2, 28-year-old Yang Yang from a village in Dandong, Liaoning Province, posted a video mimicking Huang that garnered explosive reactions. Dressed in a cheap leather jacket and glasses, with flour sprinkled in his hair to replicate Huang's look, Yang's video quickly spread, earning him tens of thousands of followers in about two weeks. Investing around 50,000 won (approximately $40), he transformed into Huang, mimicking his eating and drinking habits while holding a model of a graphics card, bringing laughter to viewers. His impersonation videos have each received millions of views, with some reaching up to 15 million views, sparking significant interest. While CEOs were once primarily remembered for corporate performance, product launches, and stock trends, Jensen Huang has emerged as a key figure in the AI semiconductor market and a character in popular culture. Meanwhile, Jensen Huang arrived at Gimpo Airport around 1 p.m. on June 5. His first schedule in South Korea included a visit to the T1 Base Camp PC Bang near Hongdae, where he met with League of Legends esports players, including Faker (Lee Sang-hyeok), Doran (Choi Hyun-jun), Owner (Moon Hyun-jun), Phase (Kim Soo-hwan), and Keria (Ryu Min-seok). T1 Base Camp is a PC bang operated by T1. The atmosphere was filled with cheers from fans welcoming Huang, who also took time to pose for photos and sign autographs for those gathered at the PC bang. Later that day, Huang is scheduled to meet with SK Group Chairman Chey Tae-won, LG Group Chairman Koo Kwang-mo, and Naver Chairman Lee Hae-jin at a Korean barbecue restaurant called "Hyungnim Jeoyo" in the Mapo district of Seoul. 2026-06-05 16:57:00

Xi Jinping to Visit North Korea for the First Time in Seven Years Chinese President Xi Jinping will make a state visit to North Korea on June 8-9, marking his first trip to the country in seven years and his second since Kim Jong Un took power. This visit comes amid escalating U.S.-China strategic competition and closer ties between North Korea and Russia. Analysts view it as a reaffirmation of the traditional friendship between China and North Korea, while also showcasing China's role as a key player in addressing issues on the Korean Peninsula. According to Yonhap News on June 5, the International Liaison Department of the Chinese Communist Party announced that Xi is visiting at the invitation of Kim. North Korea's state media, KCNA, reported the same. This meeting will occur about nine months after the two leaders last met during the 80th anniversary celebrations of China's victory in the war against Japan in Beijing last September. The visit coincides with the 65th anniversary of the China-North Korea Mutual Aid and Cooperation Treaty. Historically, both nations have used significant anniversaries to highlight their relationship, and this summit is expected to serve as a platform to reinforce their traditional alliance and strategic cooperation. Notably, this is Xi's first overseas trip of the year, which underscores the strategic importance of China-North Korea relations in his foreign policy. After refraining from international travel since attending the APEC summit in South Korea last year, Xi's choice of North Korea as his first destination signals the significance of this relationship in China's diplomatic agenda. This year, Xi has held meetings with South Korean President Lee Jae-myung, U.S. President Donald Trump, and Russian President Vladimir Putin. By meeting with Kim, he will have engaged with all major stakeholders concerning the Korean Peninsula. This has led to interpretations that China is positioning itself as a mediator in the region, seeking to expand its diplomatic influence. The situation on the Korean Peninsula has changed significantly since 2019. North Korea is now solidifying its status as a nuclear power, rejecting denuclearization. On June 4, KCNA reported that Kim inspected a new nuclear material production facility and held important discussions to strengthen the country's nuclear capabilities. This activity, revealed just before Xi's visit, is seen as a reaffirmation of North Korea's commitment to maintaining its nuclear status. While China officially upholds the principle of denuclearization on the Korean Peninsula, it has recently shifted its focus toward easing sanctions and expanding economic cooperation with North Korea. During last month's U.S.-China summit, denuclearization was mentioned as a common goal, but a joint statement from the China-Russia summit emphasized opposition to sanctions against North Korea instead. Experts believe that economic cooperation will be a key agenda item during the upcoming summit, alongside nuclear issues. There is a strong possibility that discussions will include the expansion of trade between China and North Korea, as well as cooperation in tourism, railways, healthcare, and Chinese investment in North Korea. Some analysts suggest that this visit could symbolize a strategic collaboration among North Korea, China, and Russia in opposition to a U.S.-centric international order. With military cooperation between North Korea and Russia strengthening, China may be looking to recalibrate its relationship with North Korea and actively reshape the Northeast Asian order. Ultimately, Xi's visit to Pyongyang carries implications beyond a mere friendly gesture. It is expected to serve as a diplomatic stage where China seeks to assert its influence and secure a leading role in addressing the complex issues surrounding North Korea's nuclear ambitions, sanctions, and the broader geopolitical dynamics involving the U.S. and Russia.* This article has been translated by AI. 2026-06-05 16:54:00

Election Commission Chair Resigns Amid Ballot Shortage Crisis In the wake of ongoing controversy over a ballot shortage during the June 3 local elections, Na Tae-ak, the Chair of the National Election Commission, has resigned, taking responsibility for the crisis. On June 5, Na announced his resignation during a public apology at the commission's office in Gwacheon, Gyeonggi Province, stating, "I feel a deep sense of responsibility for all that has transpired and will step down from my position as Chair of the National Election Commission." He added, "The high level of public interest and active expression of will regarding local governance has been undermined by the ballot shortage. As the Chair, I feel a profound sense of despair and an immense responsibility for the erosion of public trust in election management, which has led to skepticism about the electoral process." Na emphasized, "There is no excuse for the occurrence of an event that infringes upon the precious right of citizens to participate in elections. I will establish an investigation committee as quickly as possible to identify the fundamental causes and issues surrounding the ballot shortage and to develop measures to prevent its recurrence, ensuring that all findings are transparently disclosed." He also pledged that the investigation committee would be composed entirely of external experts to ensure objectivity and thoroughness. Na committed to fully cooperating with any National Assembly inquiries regarding the commission's responsibilities in this matter, stating, "If there are responsibilities to be taken after the results are revealed, I will not evade them." Following Na's announcement, the commission plans to swiftly establish an investigation committee made up of external experts to determine the causes of the crisis and propose preventive measures. Na, who was appointed as Chair of the National Election Commission in May 2022 following the retirement of former Supreme Court Justice Na Jeong-hee, will leave office after approximately four years, failing to complete his six-year term. On the election day of June 3, unprecedented scenes unfolded as voters were unable to cast their ballots due to a shortage of ballots at polling stations in areas such as Gangnam, Gwangjin, and Songpa districts in Seoul. Some voters, exhausted from long waits, chose to abandon their attempts to vote, raising questions about the commission's response. Notably, far-right civic groups, including history lecturer Jeon Han-gil and former Prime Minister Hwang Kyo-ahn, who have long claimed electoral fraud, have been staging protests at polling stations in Songpa and the commission's office in Gwacheon. Additionally, the second polling station in Jamsil 7-dong, Songpa, which had been blocked by protesters, finally had two ballot boxes removed for counting after police deployed 1,000 riot officers over a period of two nights and three days. 2026-06-05 16:54:00

Oakley Meta Pop-Up Store Opens in Seoul's Musinsa Store Seongsu Musinsa announced on June 5 that it will host a pop-up store for the Oakley Meta, a next-generation artificial intelligence (AI) glasses developed in collaboration with Meta, at its Seongsu location in Seoul. The pop-up store will be open until June 18.The Oakley Meta combines the design of the sports eyewear brand Oakley with Meta's AI technology, making it suitable for both sports activities and everyday use.Visitors to the pop-up store can experience two products: the Oakley Meta Vanguard and the Oakley Meta Houston. The Oakley Meta Vanguard is tailored for sports environments, providing real-time workout data by connecting with Garmin devices and Strava. It also features 122-degree ultra-wide 3K UHD hands-free recording and is rated IP67 for water and dust resistance.The Oakley Meta Houston focuses on everyday use, supporting voice commands for Meta AI interaction, open-ear speaker functionality, a battery life of up to 48 hours, and the option for prescription lenses.Guests can participate in programs that offer AI-based voice interaction and simulated sports environments. An Oakley representative stated, "We will continue to explore various combinations of sports, lifestyle, and technology."A Musinsa representative added, "We hope many consumers will experience the convenience and innovative lifestyle offered by next-generation tech wearables through this pop-up store."According to market research firm Counterpoint Research, Meta currently holds over 70% market share in the global smart glasses sector.* This article has been translated by AI. 2026-06-05 16:51:00