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  KOSPI retreats after historic rally as foreign investors dump shares SEOUL, May 8 (AJP) - South Korea's KOSPI took a breather on Friday after a strong three-day rally that saw the benchmark index gain more than 13 percent, weighed down by heavy foreign selling. As of around 11 a.m., the KOSPI stood at 7,378.17, down 1.49 percent, from the previous session. The retreat came just a day after the index briefly crossed the 7,500 mark for the first time in its history, having surpassed the 7,000 threshold in the previous session, as foreign investo May 8, 2026
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  Lee discusses semiconductor and AI cooperation in first phone call with Dutch PM SEOUL, May 8 (AJP) - President Lee Jae Myung spoke with Dutch Prime Minister Rob Jetten over the phone, Cheong Wa Dae said on Friday. The call the previous day was their first conversation since Jetten took office last February. In a written press briefing, presidential spokesperson Kang Yu-jung said the two leaders agreed to strengthen cooperation in advanced industries including artificial intelligence, semiconductors and other technologies. According to Kang, Lee expressed May 8, 2026
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  US court strikes down Trump tariffs again as Korea watches next trade front SEOUL, May 08 (AJP) -President Donald Trump’s global tariff regime has been struck down by U.S. courts yet again, marking the fifth consecutive major legal defeat for his second-term inward trade strategy and intensifying uncertainty for export-dependent allies such as South Korea. On Thursday, the U.S. Court of International Trade ruled that Trump illegally imposed a 10 percent blanket tariff on most imports using Section 122 of the Trade Act of 1974, concluding the administ May 8, 2026
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  Japan leads Asia rally, KOSPI hits new high SEOUL, May 07 (AJP) - Japan led a broad rally across Asian markets on Thursday, with the Nikkei 225 surging to a fresh all-time high as easing oil prices, renewed optimism over a possible U.S.-Iran agreement and another global surge in AI-linked semiconductor shares fueled aggressive buying across the region. The Nikkei 225 jumped 5.6 percent to close at a record 62,833.8, while the broader TOPIX gained 3.4 percent after Japanese markets reopened following an extended holiday brea May 7, 2026
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  Hanwha Group moves to bring aerospace under its defense arm SEOUL, May 07 (AJP) - Defense-heavy Hanwha Group has climbed to No. 5 in South Korea’s latest conglomerate rankings by the Fair Trade Commission, and it appears to be aiming to go literally higher by bringing aircraft and rocket manufacturing business back into the family. The group has recently secured more than a 5 percent stake in Korea Aerospace Industries, the country's aircraft-making monopoly, for the stated purpose of “management participation,” signa May 7, 2026
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  Singles' childbirth intentions rise above 40% in South Korea SEOUL, May 7 (AJP) - Four out of 10 South Korean adults viewed having children positively, a recent survey showed, adding to signs of a gradual demographic rebound in a country long plagued by the world's lowest birth rate. The fifth nationwide survey on perceptions of marriage, childbirth and parenting, conducted by the Presidential Committee on Ageing Society and Population Policy (PCASPP), found increasingly positive attitudes toward family formation among adults aged 25 to 4 May 7, 2026
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  Proposal to amend constitution fails to be put to vote amid PPP boycott SEOUL, May 7 (AJP) - A proposed bill to partially amend the constitution, led by the ruling Democratic Party (DP), stalled at the National Assembly in Seoul on Thursday after the main opposition People Power Party (PPP) boycotted a parliamentary vote, leaving it short of the quorum required to proceed with only 178 lawmakers taking part. National Assembly speaker Woo Won-shik and DP lawmakers vowed to reconvene another plenary session on Friday to put the bill back to a vote. May 7, 2026
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  KF-21 cleared for combat, opening era of Korean-made fighter jets SEOUL, May 07 (AJP) - South Korea’s homegrown KF-21 fighter jet has received final combat suitability approval, clearing the last major hurdle in its development 10 years and five months after the project began. The Defense Acquisition Program Administration (DAPA) said Thursday that the KF-21 was declared suitable for combat use, meaning the aircraft has met the Air Force’s required operational capability and secured the technical reliability needed to carry out mission May 7, 2026
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  Gyeonggi fire services demonstrates unmanned firefighting robot 'FIRO' YONGIN, May 07 (AJP) - The Gyeonggi Fire Service's headquarters has conducted a demonstration of an unmanned firefighting robot called 'FIRO' at the Gyeonggi Fire Service Academy's live fire training facility in Yongin, south of Seoul, on Wednesday. The demonstration event included remote driving, water spraying, and search & rescue operations. According to the emergency headquarters, the unmanned firefighting robot will be deployed in dangerous environments May 7, 2026
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  KOSPI hits new heights and ordinary Koreans can only watch in envy SEOUL, May 07 (AJP) - South Korea’s benchmark stock index keeps scaling one record after another, but for many ordinary investors the rally feels increasingly like a private party they cannot afford to enter. After surging 70 percent last year, the KOSPI has already climbed another 77 percent this year, propelled overwhelmingly by a handful of AI-fueled chip giants. The gains have become so concentrated that while paper wealth has exploded, many retail investors holding smal May 7, 2026