KOSPI Jumps More Than 3% as Foreign and Institutional Buying Lifts Seoul Stocks South Korean stocks surged in intraday trading Monday, led by semiconductor shares, with the benchmark KOSPI rising more than 3% and setting a fresh record high.  As of 11:02 a.m., the KOSPI was up 242.98 points, or 3.68%, at 6,841.85, according to the Korea Exchange. The index opened up 184.06 points, or 2.79%, at 6,782.93 and extended gains on foreign buying. In the main market, foreigners and institutions were net buyers of 2.3264 trillion won and 1.2675 trillion won, respectively, while individuals were net sellers of 3.4957 trillion won. Among top market-cap stocks, Samsung Electronics rose 3.63%, SK hynix gained 8.94% and SK Square jumped 12.72%. Hyundai Motor added 1.51%, LG Energy Solution rose 2.28%, Hanwha Aerospace gained 3.11% and HD Hyundai Heavy Industries advanced 1.75%. Doosan Enerbility slipped 0.31% and Samsung Biologics fell 0.34%. The tech-heavy KOSDAQ was up 24.57 points, or 2.06%, at 1,216.92 at the same time. It opened up 19.93 points, or 1.67%, at 1,212.28. In the KOSDAQ market, foreigners and institutions were net buyers of 602.7 billion won and 10.3 billion won, respectively, while individuals were net sellers of 605.9 billion won. Among leading KOSDAQ shares, EcoPro rose 2.22%, EcoPro BM gained 4.37%, Alteogen added 3.80%, Rainbow Robotics rose 3.46%, Kolon TissueGene gained 2.45% and HLB advanced 2.14%. Samchundang Pharm fell 2.41%, Lino Industrial slipped 1.34% and ABL Bio lost 0.59%.* This article has been translated by AI. 2026-05-04 11:12:06

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

KOSPI tops 6,800 on AI-driven chip rally amid easing Hormuz tensions SEOUL, May 04 (AJP) - South Korea’s benchmark KOSPI jumped more than 3 percent at the open on Monday to test a new plateau above 6,800 on strong institutional buying in chip and other large-cap stocks. Market sentiment was also influenced by geopolitical developments after U.S. President Donald Trump said the United States would begin safely escorting ships from “neutral and innocent” countries through the Strait of Hormuz under a new initiative referred to as “Project Freedom.” He described the move as a humanitarian effort but warned that the U.S. would respond strongly to any interference, while also noting ongoing positive discussions with Iran. As of 10:42 a.m., South Korea’s benchmark KOSPI rose 3.40 percent to 6,822.94. Shares of SK hynix and its largest shareholder SK Square surged in early trading, supported by improved investor sentiment driven by strong earnings from global Big Tech firms and growing investment in artificial intelligence infrastructure. The chipmaker was 8.7 percent higher at 1,399,000 won, hitting an intraday record high, while SK Square jumped 12.84 percent to 949,000 won. Among other heavyweights, tech shares led the gains, with Samsung Electronics rising 2.15 percent and its preferred shares up 2.84 percent, while Samsung Electro-Mechanics climbed 5.17 percent. Auto stocks were also strong, with Hyundai Motor and Kia gaining 1.88 percent and 2.83 percent, respectively. In the industrial and defense sector, Hanwha Aerospace rose 4.02 percent and HD Hyundai Heavy Industries added 1.17 percent, while Doosan Enerbility slipped 0.71 percent. Battery makers showed modest gains, with LG Energy Solution up 1.41 percent and Samsung SDI rising 1.29 percent. Biotech and financial stocks were mixed, as Samsung Biologics fell 0.61 percent and KB Financial Group declined 1.25 percent, while Samsung Life Insurance edged up 1.20 percent. On the junior KOSDAQ, most major stocks traded higher, with the index up 1.93 percent to 1,215.35, led by battery and materials names such as EcoPro and EcoPro BM, which gained 2.94 percent and 4.13 percent, respectively. Pharmaceutical and biotech stocks also advanced, including Alteogen, HLB, ABLBio and LigaChem Biosciences, which rose 2.44 percent, 2.14 percent, 0.07 percent and 0.87 percent, respectively, alongside Peptron, up 3.07 percent. Industrial and equipment-related shares also moved higher, with Rainbow Robotics gaining 3.77 percent, LEENO Industrial up 0.25 percent, Kolon TissueGene climbing 4.12 percent, Jusung Engineering edging up 0.24 percent and Wonik IPS rising 1.37 percent. Only Samchundang Pharm bucked the trend, slipping 0.36 percent. Meanwhile, the Korean won strengthened to 1,472.40 per dollar from 1,483.30 in the previous session. Elsewhere in Asia, Hong Kong’s Hang Seng Index rose 1.74 percent to 26,225.42. Japan’s Nikkei 225 was closed on Monday for Greenery Day, while China’s Shanghai Composite Index remained closed for the Labor Day holiday period. 2026-05-04 11:01:37

Gold Holds Steady as Markets Watch U.S. Hormuz Shipping Plan, U.S.-Iran Talks International gold prices were little changed as investors weighed a U.S. plan to steer some ships away from the Strait of Hormuz and hopes for progress in U.S.-Iran talks. Demand for safe-haven assets eased somewhat, but gold avoided a sharper drop as energy prices stayed elevated, tempering expectations for interest-rate cuts in major economies. Bloomberg reported that spot gold in Singapore trading on Monday morning was $4,609.23 an ounce (about 6.78 million won), down 0.1%. It traded around $4,620 an ounce (about 6.80 million won) during the session. Gold has posted a second straight weekly decline and is down about 12% since the outbreak of war in late February. Markets are focused on U.S. President Donald Trump’s Hormuz initiative. Trump said on social media the previous day that the United States would begin, from the 5th, guiding some vessels not related to the Iran conflict away from the Strait of Hormuz. He also said “positive talks are underway” with Iran. Tensions, however, have not fully eased. Trump previously suggested Iran’s latest peace proposal alone might not be enough. If energy prices rise further due to the war, inflation pressure could build again, weakening expectations for rate cuts by major central banks. That would weigh on non-yielding gold. U.S. fiscal and monetary policy events this week are also in focus. Investors are watching the Treasury’s borrowing plans for the next three months, remarks from Federal Reserve officials, and key economic releases including monthly employment data. The updates are expected to offer clues on the future path of interest rates and the direction of the U.S. fiscal deficit. Over the medium to long term, bullish views on gold remain. The World Gold Council said central bank gold purchases in the first quarter rose 17% from the previous quarter to 243.7 metric tons. Bloomberg said that was the fastest pace of increase in more than a year. Bloomberg also reported that Tether Holdings has continued buying gold and has become the world’s largest known holder outside banks and governments. At the same time, spot silver rose 0.3% to $75.57 an ounce (about 110,000 won), while platinum and palladium also gained. The Bloomberg Dollar Spot Index fell 0.1%. The index tracks the dollar’s value against currencies of major trading partners.* This article has been translated by AI. 2026-05-04 10:55:01

Gas Explosion Injures Resident at Apartment in Eumseong During City Gas Hookup A gas explosion at an apartment in Daeso-eup, Eumseong County, North Chungcheong province, injured a resident in their 30s at about 9:40 a.m. on May 4, authorities said. The resident, identified only as A, suffered minor injuries and was taken to a nearby hospital for treatment. Officials said the injuries were not life-threatening. Yonhap News Agency reported the blast appeared to have occurred inside the unit. A had moved in the day before and called a company to start city gas service. A was quoted as saying, in effect, that gas hookup work was being done after the move. Authorities are investigating possible causes, including a gas leak and equipment problems. An Eumseong County official said emergency safety steps were completed, including immediately cutting off gas supply to the unit. No additional injuries or damage spreading to nearby units had been confirmed as of Monday. Officials said they will conduct an on-site inspection to determine the exact cause and carry out checks aimed at preventing similar accidents.* This article has been translated by AI. 2026-05-04 10:54:14

No Children's Day without LEGO: Gwanghwamun turns into brick playground SEOUL, May 04 (AJP) -For Koreans, Children’s Day and LEGO are nearly inseparable — a pairing as familiar as balloons, picnic mats and spring sunshine. At Gwanghwamun Square over the weekend, that bond unfolded on a citywide scale as the “2026 Gwanghwamun Family Festival – Let’s Play Gwanghwamun” transformed the heart of Seoul into a sprawling outdoor LEGO playground packed with families, strollers and towering brick creations. Organized with the Seoul Metropolitan Government and LEGO Korea, the festival featured installations made from some 6 million LEGO bricks, turning one of Seoul’s busiest civic spaces into a colorful landscape of imagination and noise. Children crouched over giant building tables assembling miniature cities, while parents — many appearing just as absorbed — helped snap pieces into place with competitive seriousness. Elsewhere, families raced LEGO cars down custom-built tracks or hurried through relay-style missions designed to turn play into teamwork. The square moved with the rhythm of a holiday carnival. Giant mascots wandered through crowds, stage performances echoed against surrounding government buildings and long lines formed at photo zones where children posed proudly beside oversized LEGO sculptures. ​​​The festival’s free-flowing layout encouraged visitors to wander without a fixed course, allowing families to drift naturally between activities much like children moving from one toy to another at home. For many parents in their 30s and 40s, the festival also carried a layer of nostalgia. LEGO, once a prized Children’s Day gift of their own childhoods, has become a shared ritual passed to another generation — one of the rare toys capable of surviving changing trends, screens and short attention spans. The festival continues through May 5 from 11 a.m. to 7 p.m., keeping central Seoul briefly suspended in the bright logic of childhood: build freely, play loudly and never underestimate the power of a small plastic brick. 2026-05-04 10:50:42

North Korea Calls Japan’s Planned Security Document Revisions a ‘Blatant Challenge’ North Korea on Monday criticized Japan’s push to revise its “three major security documents,” calling it a “blatant challenge to international peace and humanity,” Yonhap News Agency reported. The Workers’ Party newspaper Rodong Sinmun carried the remarks in an article titled, “Evolving into a war state and war merchant will only recreate the shameful fate of the old Japanese empire.” The paper said Japan was exploiting rising regional tensions to move quickly toward becoming a “war state” and “war merchant,” and described the effort as a “sinister scheme” by “Japanese reactionaries” to pursue what it called ambitions of renewed aggression. It said the planned revisions focus on increasing defense spending, lifting restrictions on arms exports and expanding what it called offensive military capabilities. The paper argued that Japan’s drive to export weapons is aimed not only at profit but also at reviving its arms industry and improving the war-fighting capability of the Self-Defense Forces. It warned that what it called the “reckless rampage” of a former aggressor state would face a “merciless counterattack” from an angered international community. Japan is seeking to revise by year’s end its National Security Strategy, National Defense Strategy and Defense Buildup Program, with China’s expanding Pacific presence in mind.* This article has been translated by AI. 2026-05-04 10:50:38

Hyundai E&C, DL E&C Face Off for Apgujeong District 5 Reconstruction Contract Competition is intensifying between Hyundai Engineering & Construction and DL E&C as the selection of a builder for Apgujeong District 5, one of Seoul’s biggest redevelopment battlegrounds, nears. Industry officials said Monday the contractor will be chosen at a homeowners association general meeting on May 30. The project will rebuild the Hanyang 1st and 2nd apartment complexes near 490 Apgujeong-dong in Seoul’s Gangnam district into eight buildings ranging from five basement levels to as high as 60 stories, with 1,397 households. Total project costs are estimated at about 1.5 trillion won. While some observers say Hyundai E&C has an edge on the strength of the “Apgujeong Hyundai” brand, DL E&C is countering with financing terms and changes to the project structure aimed at improving profitability. DL E&C said Monday its bid proposal is designed to reduce members’ financial burden by basing construction costs on project feasibility, cutting financing expenses and optimizing technology. The company proposed a construction cost of 11.39 million won per 3.3 square meters, more than 1 million won below the association’s planned estimate. DL E&C said it is focusing not only on price but also on structurally limiting the risk of cost increases. DL E&C also proposed differentiating the 29 units slated for general sale with high-end designs such as penthouses to maximize revenue. It said it would seek to raise the sale price of about 5,060 pyeong of commercial space through cooperation with a global specialist firm, and included a plan for the builder to bear construction costs. To reduce risk, DL E&C proposed directly purchasing unsold units on favorable terms if they occur. “In a situation where external factors are driving large swings in project costs, we designed a structure that considers both members’ burden and project feasibility,” a DL E&C official said. “It is a proposal that reflects revenue expansion, cost reduction and risk defense.” Earlier, DL E&C proposed setting the interest rate on required project financing at a “zero added spread” level, and shortening the construction period to 57 months to reduce interest costs. It also proposed relocation loans with a loan-to-value ratio of 150% to ease funding pressure. Hyundai E&C is emphasizing advanced technology and premium housing features. It proposed 100% Han River views for all households, a panoramic “zero-wall” design offering up to 240-degree views, and ceiling heights of up to 3 meters to enhance openness. It also plans to introduce robotics-based residential services, including a demand-responsive transport unmanned shuttle developed with Hyundai Motor Group, along with delivery, parking and charging robots. Hyundai E&C said it will build large community facilities and loop-style community spaces, and offer membership-based services linked to luxury retail.* This article has been translated by AI. 2026-05-04 10:49:33

Hyundai, Kia U.S. April Sales Dip on Tariff-Driven Early Buying; Hybrids Hit Record Hyundai Motor and Kia reported slightly lower U.S. sales in April, which the companies attributed to earlier buying tied to tariff concerns. Even as overall volume slipped, hybrid-electric vehicle (HEV) sales rose to a record on strong demand for fuel-efficient models amid high oil prices. Hyundai Motor and Kia said their combined U.S. sales in April totaled 159,216 vehicles, down 2.1% from a year earlier. Hyundai sold 86,513 vehicles, down 1.5%, while Kia sold 72,703, down 2.8%. Premium brand Genesis posted 6,356 sales, up 0.8%. HEV sales climbed to an all-time high of 41,239 vehicles despite the overall decline. A Hyundai Motor and Kia official said sales eased because purchases had been pulled forward after last year's debate over U.S. auto tariffs. The official said the companies still outperformed the broader U.S. market on the strength of HEVs, sedans and electric vehicles (EVs). At Hyundai, Sonata HEV sales jumped 170% to 4,520, and Elantra HEV sales rose 55.3% to 2,399. Kia continued to see strength in SUVs led by the redesigned Telluride and in HEV models. Telluride sales totaled 12,557, and Seltos sales rose 31.7% to 5,335. Sportage HEV sales increased 65.2% to 7,446, and EV9 sales surged 481.5% to 1,349. At Genesis, GV70 sales rose 7.7% to 2,837 and G70 sales increased 23.4% to 991, helping lift the brand's overall results. With uncertainty persisting, including the war in the Middle East, Hyundai Motor and Kia said demand for eco-friendly vehicles increased. Their combined eco-friendly vehicle sales in April rose 47.6% from a year earlier to 48,425, accounting for 30.3% of total sales. HEV sales rose 57.8% to 41,239, with Hyundai up 47.7% to 21,713 and Kia up 70% to 19,526. EV sales totaled 7,186, up 7.7%. Hyundai's EV sales fell 8.4% to 4,779, while Kia's rose 65% to 2,407. Global automakers also posted declines in April amid broader uncertainty. Toyota Group sales fell 4.6% to 222,378, while Subaru (-5.9%), Mazda (-17.3%) and Honda (-0.2%) also reported lower sales.* This article has been translated by AI. 2026-05-04 10:48:24

Kim Seong-jin Named New Chairman of Korea Power Exchange Kim Seong-jin, former head of the Gwangju Future Car Mobility Promotion Agency, officially took office on the 4th as the next leader of the Korea Power Exchange, which oversees South Korea’s power supply and demand. The Korea Power Exchange said Kim was appointed chairman with a three-year term. An inauguration ceremony is scheduled for the 6th at the agency’s headquarters in Naju, South Jeolla Province. Born in 1963 in Goheung, South Jeolla Province, Kim graduated from Gwangju Daedong High School and earned a degree in economics from Konkuk University. He later received a doctorate in East Asian studies and the Chinese economy from the University of Leeds in the United Kingdom. Kim entered public service in 1989 after passing the 33rd class of the state civil service exam. He has held a range of posts in industry and energy, including spokesperson at the Ministry of Trade, Industry and Energy, full-time vice chairman of the Korea Display Industry Association, and head of the Gwangju Future Car Mobility Promotion Agency. The appointment ends more than a year of acting leadership at the Korea Power Exchange following the voluntary resignation of former chairman Jeong Dong-hee in March last year. The Korea Power Exchange is a key institution that balances real-time electricity supply and demand on the national grid. Because supply and demand must match at all times for stable operations, it forecasts daily demand, sets generation plans and adjusts plant output and the transmission network in real time as conditions change. In the past, grid operations were relatively stable, centered on large power plants run by generation companies under Korea Electric Power Corp. But as the share of renewable generation has expanded rapidly, volatility has increased and grid management has become more difficult. Against that backdrop, Kim’s role is expected to grow. Industry officials say they expect him to play an important part in stabilizing the power market and responding to energy policy challenges.* This article has been translated by AI. 2026-05-04 10:34:09