InBody Hits Upper Limit Following Strong Q1 Earnings Report InBody's stock has surged to its upper limit following a significant increase in its first-quarter earnings compared to last year. According to the Korea Exchange, as of 10:20 a.m. on May 8, InBody's shares rose by 8,850 won (29.85%) to 38,500 won, reaching the maximum allowable price increase. The company reported that its consolidated revenue for the first quarter of this year was 68.445 billion won, a 23.1% increase from the same period last year. Operating profit soared by 86% to 13.025 billion won, while net profit jumped 138.1% to 16.298 billion won. Kim Chung-hyun, a researcher at Mirae Asset Securities, noted, "Revenue exceeded market expectations, marking the ninth consecutive quarter of record performance," adding that operating profit also surpassed forecasts. He further stated, "As the obesity treatment market grows in the U.S. and Europe, obesity clinics and pharmaceutical companies researching obesity treatments are emerging as new demand sources. The obesity treatment market will continue to provide growth momentum." 2026-05-08 11:52:13

HMM Approves Relocation of Headquarters from Seoul to Busan HMM held an extraordinary general meeting on May 8, approving a change in its headquarters from Seoul to Busan. The company plans to first relocate the CEO's office to Busan, followed by a gradual organizational transition.The meeting took place at Park One Tower in Yeouido, Seoul, where the board voted to amend the company's articles of incorporation to reflect the new headquarters location in Busan.Choi Won-hyuk, HMM's CEO, stated, "As a leading national shipping company, we are committed to contributing to balanced national development and achieving continuous growth." He acknowledged the current uncertainties in the domestic and international shipping environment, exacerbated by ongoing conflicts in the Middle East, which have led to rising costs and declining performance for HMM.Despite these challenges, Choi emphasized the company's commitment to overcoming the crisis through detailed strategies and enhancing shareholder value while strengthening its global investment capabilities.The meeting, which began at 9 a.m., concluded in under an hour as the proposed amendment was swiftly approved. The change in headquarters is effective immediately.After the meeting, HMM officials indicated that the relocation to Busan would proceed gradually and based on labor-management agreements, ruling out forced relocations without employee consent.Initially, some functions, including the CEO's office, will be moved, with further discussions on the scope and timing of organizational transitions to follow.HMM's labor and management reached a dramatic agreement on the headquarters relocation on April 30. However, concerns remain among employees regarding working conditions, housing, education, and the extent of key organizational moves.Industry insiders predict that further negotiations between labor and management will be necessary during the relocation process. One shipping industry representative noted, "While the amendment is complete, the actual relocation process is just beginning. Balancing employee acceptance and management efficiency will be crucial moving forward." 2026-05-08 11:50:46

Celltrion's U.S. Strategy Boosts Sales of Jimpenetra, Achieving Record Prescriptions Celltrion's tailored sales strategy in the U.S. has paid off, with its subcutaneous infliximab treatment, Jimpenetra (known as Remsima SC in South Korea), achieving its highest quarterly prescription volume ever in the first quarter of this year, surpassing the total prescriptions from the first half of last year.The company is optimistic about the second half of the year, anticipating continued growth for Jimpenetra as prescription trends show a consistent upward trajectory.According to Celltrion, Jimpenetra's prescriptions increased by 185% year-over-year in the first quarter, marking a record high.This success is attributed to the company's '3P' marketing strategy, which focuses on key stakeholders in the local healthcare market, including doctors, insurers, and patients, following Jimpenetra's launch in 2024.To expand prescriptions for Jimpenetra, Celltrion has concentrated on engaging healthcare professionals, increasing its local sales force to 100 to enhance marketing capabilities. Securing insurance coverage has also been crucial, as reimbursement directly impacts prescriptions in the U.S. The company has utilized various advertising channels, including TV, YouTube, and social media, to increase patient awareness and preference for the product.Celltrion expects Jimpenetra's growth to continue in the second half of the year, supported by a solid prescription infrastructure with over 90% reimbursement coverage, increased awareness among healthcare professionals and patients, and consistent record-breaking prescription volumes since its launch.Additionally, a new high-revenue product line launched alongside Jimpenetra is also performing well in the U.S. The product, Stekima (ustekinumab), launched in March last year, has captured a 10.2% market share within its first year.A Celltrion representative stated, "Considering the upward prescription trend as we move into the second half, we expect Jimpenetra's growth to accelerate further."Previously, Celltrion reported its highest-ever first-quarter performance despite seasonal slowdowns, with consolidated revenues of 1.145 trillion won and an operating profit of 321.9 billion won. This represents a 36% increase in revenue and a 115.5% increase in operating profit compared to the same period last year, marking the highest first-quarter revenue and operating profit on record.Celltrion noted that this record performance positions them well to exceed their annual targets of 5.3 trillion won in revenue and 1.8 trillion won in operating profit. 2026-05-08 11:49:00

Iran Establishes Persian Gulf Strait Authority to Regulate Shipping Iran has begun formalizing its control over the Strait of Hormuz by launching a new authority to regulate shipping. The Persian Gulf Strait Authority will oversee vessel passage approvals and collect tolls, marking a shift from temporary military measures to a permanent administrative system. On May 8, reports from AP, PBS, and CBS indicated that Iran has established the Persian Gulf Strait Authority, which is acting as the "only valid approval authority" for vessels transiting the strait, according to maritime information provider Lloyd's List. Reuters also supported this development, citing Iran's state-run Press TV, which reported that a new system for managing shipping in the Strait of Hormuz has been introduced. Commercial vessels must coordinate their passage with Iranian military forces, and a new map reflecting the controlled areas has been released. Under this system, vessels must receive prior approval via official email, detailing regulations and procedures. CBS noted that applications require information about vessel ownership, insurance, crew details, and planned routes. The shipping industry views this move as effectively instituting a "permit-based passage." AP highlighted that with Iran already exerting de facto control over the strait, the establishment of this new authority could further undermine freedom of navigation. PBS reported that the authority's role in approving passage and collecting tolls has resurfaced as a key issue amid stalled U.S.-Iran peace negotiations. Maritime Executive cited Iranian state media, stating that the authority serves as a "single window" for direct communication with shipowners, including a dedicated official email address. However, the legitimacy of toll collection in international straits remains contentious, with the U.S. potentially sanctioning entities that pay these tolls to Iran. 2026-05-08 11:47:34

Government Strengthens Supply Chain for Solar Inverters Amid High Foreign Dependency 정부가 업계와 외산 비중이 높은 태양광 인버터에 대한 공급망을 보호하기 위한 논의를 본격화한다. 기후에너지환경부는 8일 서울 양재 엘타워에서 한국전력공사 등 공공기관 및 OCI파워 등 국내 인버터 제조업계와 함께 '태양광 인버터산업 발전협의체'를 공식 발족했다. The South Korean government is taking steps to protect the supply chain for solar inverters, which are heavily reliant on foreign imports. On May 8, the Ministry of Climate, Energy, and Environment officially launched the 'Solar Inverter Industry Development Council' in Seoul, collaborating with public institutions like Korea Electric Power Corporation and domestic manufacturers such as OCI Power. Solar inverters are essential for converting direct current (DC) electricity generated from solar power into alternating current (AC). Their importance is growing due to their impact on generation efficiency, system safety, and power quality. However, the majority of solar inverters in South Korea are imported, raising concerns about supply chain stability. Notably, Chinese products account for over 70% of global solar inverter shipments, contributing to this dependency. The council aims to reduce reliance on foreign sources and strengthen domestic manufacturing capabilities in line with the expansion of renewable energy. It will pursue joint research projects for future technology development and gather industry feedback to protect the solar inverter ecosystem. The ministry plans to enhance the inverter industry ecosystem through public demand expansion, improvements in certification systems, and support for AI-driven inverter technology development. Korea Electric Power Corporation will outline investment plans focused on developing secure next-generation solar inverters. The council will operate through specialized divisions: one for promoting localization of key technologies, another for discussing technology standards and testing facilities, and a third for strengthening the domestic supply chain and creating markets. Plans include technology transfer in the energy sector, R&D support, and opening testing facilities to reshape the industry ecosystem. Lee Ho-hyun, the second vice minister of climate, stated, "With the launch of this council, we will continue to provide policy support to enhance the technological competitiveness of domestic companies and create a stable industrial ecosystem." 2026-05-08 11:45:50

Coupang Expands Healthcare Access for Seniors and Children in Danyang Coupang is accelerating its healthcare support initiative in rural areas with limited medical infrastructure. Ahead of the opening of its advanced logistics center in Jecheon next year, the company is deploying a team of medical professionals to Danyang, a region with a high elderly population, to provide tailored healthcare services. On May 7, Coupang held its "On-Dongne Care" program at the Maepo Gymnasium in Danyang County, targeting residents in medical blind spots. This was the second mobile clinic event following its launch in Jangsu County, Jeollabuk-do, in April. Danyang County has a population of about 26,000, with 37.6% aged 65 and older, making it a representative ultra-aged community. Given the local challenges in accessing advanced hospitals, Coupang partnered with the Korean Medical Volunteer Corps to send over 40 medical professionals, including specialists and nurses, to the site. The event provided comprehensive services, including internal medicine, dentistry, and traditional Korean medicine, along with bone density and blood tests for around 500 participants, including seniors and students from Maepo Middle School. For those with mobility issues, home visits for medical care were also offered. This event expanded its focus to include youth, introducing growth plate examinations and developmental assessments for children. Coupang and the medical team plan to provide essential medicine kits based on the results and will coordinate follow-up care for residents needing additional treatment at nearby hospitals. This healthcare initiative aligns with the upcoming launch of Coupang's Jecheon logistics center, which is being developed with an investment of approximately 100 billion won. The project aims to strengthen community trust through localized social contributions beyond mere job creation. A Coupang representative stated, "In honor of Parents' Day, we are pleased to support the health of local seniors and assist children's growth. We will continue to visit areas in need each month to provide tangible support to residents." Looking ahead, Coupang plans to bring the On-Dongne Care project to the Gyeongbuk region in June, continuing its efforts to support local communities. The company intends to visit rural areas across Jeolla, Gyeongsang, Gangwon, and Chungcheong provinces at least once a month, focusing on villages where hospital access is challenging. 2026-05-08 11:43:54

KOSPI Falls Over 2% Amid U.S. Market Decline The KOSPI opened lower on May 8, dropping over 2% after surpassing 7,500 points the previous day, influenced by declines in the U.S. market. As of 9:16 a.m., the KOSPI was down 154.71 points (2.07%) at 7,335.34. It started the day at 7,353.94, down 136.11 points (1.82%), and continued to fall amid foreign selling. Han Ji-young, a researcher at Kiwoom Securities, noted, "Today’s market is experiencing a pause due to profit-taking pressures stemming from uncertainties surrounding U.S.-Iran negotiations and weakness in the Philadelphia semiconductor index. During this time, sectors that suffered declines due to recent news and earnings reports, such as defense, may see a rotation in buying." All three major U.S. indices closed lower overnight. The Dow Jones Industrial Average fell 0.63% to close at 49,596.97. The S&P 500 dropped 0.38% to 7,337.11, while the Nasdaq declined 0.13% to 25,806.20. Despite reaching record highs during the day, the S&P 500 and Nasdaq reversed gains in the afternoon as uncertainties regarding U.S.-Iran negotiations emerged. In the securities market, foreign and institutional investors sold a net 1.689 trillion won and 121.2 billion won, respectively, while individuals bought a net 1.7824 trillion won. Most large-cap stocks declined, including Samsung Electronics (-3.50%), SK Hynix (-2.72%), and LG Energy Solution (-1.45%). Hyundai Motor also saw a drop of 3.85%. At the same time, the KOSDAQ index rose 13.13 points (1.09%) to 1,212.31, starting the day at 1,199.47, up 0.29 points (0.02%). In the KOSDAQ market, individuals sold a net 293.4 billion won, while foreign and institutional investors bought a net 298.1 billion won and 30.5 billion won, respectively. Among top KOSDAQ stocks, EcoPro BM (1.06%), Alteogen (0.42%), and Rainbow Robotics (10.76%) saw gains, while EcoPro (-0.31%) and Rino Industrial (-1.50%) declined. 2026-05-08 11:41:48

U.S.-Iran Tensions Escalate Despite Ceasefire U.S. and Iranian forces clashed again in the Hormuz Strait, despite a ceasefire announced on April 7. The ongoing disputes over control of the strait and Iran's nuclear program highlight the fragile nature of the ceasefire. On May 7, U.S. Central Command (CENTCOM) reported that Iran launched missiles, drones, and small boats at three U.S. Navy destroyers transiting the strait. In response, the U.S. conducted retaliatory strikes targeting missile and drone launch sites and command facilities. The U.S. stated that there were no damages to its assets, while Iran accused the U.S. of violating the ceasefire by attacking tankers and civilian areas. This incident is not merely an accidental skirmish. According to AP, the conflict began in February with U.S. and Israeli airstrikes against Iran, and intermittent clashes have continued since the ceasefire was declared. This latest engagement underscores that as long as key issues remain unresolved, further conflicts are likely. A significant concern is the negotiation framework. Reuters reported that the U.S. has presented a proposal to officially end the war, which Iran is currently reviewing. However, this proposal suggests declaring an end to hostilities before moving to detailed negotiations. Key issues, including Iran's nuclear program and the reopening of the Hormuz Strait, remain unaddressed. Control of the Hormuz Strait is a critical factor in these negotiations. AP noted that Iran has recently established a new body to manage shipping through the strait and impose fees. While the U.S. seeks to restore normal shipping, Iran is leveraging control of the strait as a bargaining chip. This clash reflects a struggle not just for military dominance but also for maritime order and negotiation leverage. The gap in negotiations remains wide. Reuters reported that reactions within Iran suggest the U.S. proposal is seen more as an American agenda than a realistic solution. The U.S. is sending mixed signals, combining hopes for negotiations with military pressure, indicating that the current phase is more about managing tensions than reaching a substantive agreement. AP described the situation as an "unstable ceasefire," noting that direct negotiations have yet to yield a viable solution. 2026-05-08 11:39:54

Funeral of Former Prime Minister Lee Hong-koo Concludes The funeral for former Prime Minister Lee Hong-koo, who passed away at 92 on May 5, concluded with a farewell ceremony and burial. On the morning of May 8, a solemn farewell ceremony took place at the Seoul Asan Medical Center, followed by the burial at Cheonan Park Cemetery, marking the end of the funeral proceedings. The ceremony was led by Lee Jae-seung, head of the Korea University Institute of International Relations, and included tributes from Hong Seok-hyun, chairman of JoongAng Holdings; Chung Mong-joon, chairman of the Asan Social Welfare Foundation; and Yoo Hong-rim, president of Seoul National University, among others. In his tribute, Hong expressed, "Today, we gather in profound sadness to bid farewell to our esteemed mentor and elder statesman, Lee Hong-koo. He was an intellectual who criticized the system, far from the image of a chosen elite. He declined offers for ambassador and foreign minister positions during the Yushin era and the Fifth Republic due to his uncompromising spirit." Chung reminisced about his time as a student under Lee, recalling, "As a freshman at Seoul National University, I remember the large crowds drawn to his humorous lectures. His teachings provided invaluable insights into international affairs and the direction of our nation, imparting wisdom beyond mere knowledge." Yoo also reflected, stating, "Lee was my mentor since I entered Seoul National University in 1980, and I feel a deep sense of loss sending him to the eternal world. Remembering his profound teachings is how we can repay his kindness." Born in 1934, Lee entered the Seoul National University College of Law but dropped out the following year to study in the United States. He earned a degree in philosophy from Emory University and a master's and doctorate in political science from Yale University before returning to Korea in 1968 to join the faculty at Seoul National University. Lee began his political career in 1988 as the Minister of Unification, later serving as a special advisor to the president, ambassador to the UK, and Deputy Prime Minister and Minister of Unification under the Kim Young-sam administration, before becoming the 28th Prime Minister in 1994. Notable attendees at the funeral included former Prime Minister Jeong Un-chan, former UN Secretary-General Ban Ki-moon, Minister of the Interior and Safety Yoon Ho-jung, former Bareunmirae Party leader Son Hak-kyu, People Power Party lawmaker Kwon Young-se, British Ambassador to South Korea Colin Crooks, Japanese Ambassador to South Korea Koichi Mizushima, and Kim Hyun-chul, chairman of the Kim Young-sam Foundation. 2026-05-08 11:37:17

Toss Bank Expands National Treasury Payment Services with Direct Bank of Korea Link Toss Bank is set to enhance its national treasury payment services by directly linking with the Bank of Korea. On May 8, Toss Bank announced it has obtained qualification as a national treasury collection agency. National treasury payments allow customers to receive funds from government agencies, such as tax refunds, directly into their accounts. Since 2024, Toss Bank has offered services through its app for viewing and paying national tax, customs duties, police fines, penalties, and patent fees. Last year, it partnered with the National Health Insurance Service to enable payments for four major social insurance premiums. The recent qualification strengthens Toss Bank's foundation for handling national treasury operations through direct integration with the Bank of Korea while maintaining existing customer payment experiences. A Toss Bank representative stated, "This qualification signifies a strengthened foundation for handling national treasury operations in direct connection with the Bank of Korea. We will continue to expand services to make public financial services like tax payments and refunds easier and more secure for our customers." 2026-05-08 11:36:03