Hanwha Aerospace increases Korea Aerospace Industries stake to pursue management role SEOUL, May 05 (AJP) - South Korea's defense powerhouse Hanwha Aerospace has increased its stake in Korea Aerospace Industries to 5.09 percent and changed its investment status to management participation, signaling a drive to consolidate South Korea's defense and space sectors. The company plans to invest a total of 500 billion won to reach an 8.03 percent stake by the end of the year. This shift positions Hanwha to influence the decision-making processes of South Korea May 5, 2026

Samsung Elec changes TV chief as Chinese rivals ascend SEOUL, May 04 (AJP) - Samsung Electronics has replaced the head of its television business as South Korean TV brands' long-held dominance over global premium market is being threatened by Chinese rivals whose price appeal has been reinforced with open-source artificial intelligence features. Once-household TV names Samsung and LG Electronics are increasingly being squeezed on global shelves by Chinese competitors repowered with AI specs. According to 2025 data from Counterp May 4, 2026

Korean shipbuilders draw 6 orders for very large carriers amid Hormuz disruption SEOUL, May 04 (AJP) -South Korea’s major shipbuilders secured more than 1 trillion won ($677 million) in fresh gas carrier orders as disruptions around the Strait of Hormuz drive longer shipping routes and accelerate demand for alternative-fuel transport vessels amid a reshaping global energy trade. HD Hyundai Heavy Industries said Monday it won a 504.8 billion won ($343 million) order from Korea-based KSS Line to build three very large gas carriers (VLGCs), according to a reg May 4, 2026

Korea University, UNIST team up to build Korean version of Harvard-MIT HST SEOUL, May 04 (AJP) - Korea University College of Medicine and the Ulsan National Institute of Science and Technology (UNIST) have been picked for the government's flagship program to nurture physician-scientists, marking a fresh push to close the gap between Korean medical research and global leaders such as Harvard-MIT and Stanford. The two institutions were selected as a new consortium under the 2026 K-MediST (Korea Medical Science & Technology) program, supervised by the May 4, 2026

Samsung family completes $9 bn inheritance tax payment as AI boom reshapes empire SEOUL, May 03 (AJP) -The family of late Samsung Group patriarch Lee Kun-hee has completed payment of a record 12 trillion won ($8.8 billion) inheritance tax over five years, concluding what is widely regarded as the largest inheritance settlement in South Korean history while underscoring the dramatic resurgence of the Samsung empire during the artificial intelligence semiconductor boom. According to business industry sources on Sunday, Jay Y. Lee, along with his mother Hong Ra-hee May 3, 2026

Samsung's AI chip bonanza fuels bitter divide inside Korea's biggest company SEOUL, May 03 (AJP)-Inside Samsung Electronics, the celebration over record-breaking first-quarter earnings is rapidly turning into a battle over who deserves the spoils of the AI boom. The South Korean tech giant, now ranked among the world’s largest technology companies alongside Apple, Microsoft and Nvidia by market value and profit scale, posted an all-time quarterly operating profit of 57.2 trillion won ($41 billion) for the January-March period. But the numbers expose May 3, 2026

Soaring fuel surcharges push up overseas travel costs amid Iran war SEOUL, May 02 (AJP) - International airfare costs are set to rise sharply this month as higher oil prices driven by the U.S.-Iran war push fuel surcharges to a record level, adding pressure on travelers and forcing airlines to cut more flights. Tickets issued from May 1 are subject to the highest fuel surcharge level of 33, which applies when jet fuel prices exceed 470 cents per gallon, according to the airline industry. The benchmark Singapore jet fuel price, known as MOPS, reac May 2, 2026

Trump's Germany troop cut, EU tariff hike fuel concerns in Seoul SEOUL, May 02 (AJP) - U.S. President Donald Trump’s decision to withdraw thousands of troops from Germany and raise tariffs on EU vehicles starting next week is raising concerns in Seoul over whether Washington could use similar pressure against South Korea. The moves come amid growing tensions between the U.S. and its allies over their response to the Iran war. The Pentagon said Friday that Defense Secretary Pete Hegseth had ordered the withdrawal of about 5,000 U.S. troops f May 2, 2026

Krafton's Unknown Worlds sets May 15 early access launch for Subnautica 2 SEOUL, May 01 (AJP) - Unknown Worlds Entertainment, the creative studio under South Korean gaming giant Krafton, confirmed that its underwater survival sequel Subnautica 2 will enter early access on May 15 for PC and Xbox Series X|S, priced at $30. The title has held the top spot on Steam's global wishlist ranking for about nine consecutive months since September 2025, amassing an estimated 3.8 million wishlists and cementing its status as one of the most anticipated games of 20 May 1, 2026

Apple's incoming CEO signals new products as quarterly revenue hits record SEOUL, May 01 (AJP) - Apple's incoming chief executive John Ternus voiced strong confidence in the company's product pipeline, hinting at new categories on the horizon as the iPhone maker posted record fiscal second-quarter revenue. Speaking on a conference call on Thursday (local time) after Apple reported results for the January-March quarter, Ternus, who takes the helm in September from Tim Cook, said the company had "an incredible roadmap" ahead and was prepari May 1, 2026