Historic folk festival set to return in Gangneung next month SEOUL, May 27 (AJP) - A folk festival with over 1,000 years of history, is set to return in Gangneng, Gangwon Province next month with eight days of ritual, performance and communal celebration along Namdaecheon, a stream running through the heart of the city. The festival, known as Gangneung Danoje, recognized as both a UNESCO Intangible Cultural Heritage of Humanity and a national intangible heritage of South Korea, runs from June 15 to 22 in the eastern coastal city. One of Kor May 27, 2026

Iran denies seeking transit tolls in Strait of Hormuz SEOUL, May 27 (AJP) - The Iranian government rejected allegations that it plans to impose transit tolls on commercial vessels navigating the Strait of Hormuz, announcing a joint maritime security mechanism with Oman, the Embassy of Iran in Seoul said Monday. Any financial or logistical shifts in the strait directly impact South Korea, which faces a deepening energy security crisis. Thanks to the country's effort to diversify its sources for crude oil, South Korea's relianc May 27, 2026

USFK chief calls Korea a 'dagger' in Asia from China's strategic view SEOUL, May 27 (AJP) - Gen. Xavier Brunson, commander of U.S. Forces Korea, has described South Korea as a “dagger” in the heart of Asia from China’s strategic perspective, underscoring the peninsula’s growing role in Washington’s broader efforts to counter Beijing. According to the U.S. Army War College website on Tuesday, Brunson made the remarks during a podcast hosted by the school on May 22. “When they look out from the East Coast of China, May 27, 2026

Suspect arrested after stabbing two LG Electronics employees in Seoul SEOUL, May 27 (AJP) - A subcontractor employee was arrested after stabbing two LG Electronics workers in the Magok district of Seoul, police and company officials said. The suspect, who is not a direct employee of LG, turned himself in to police shortly after the attack and was placed under emergency arrest. The two injured LG employees were transported to a local hospital. An LG spokesperson confirmed that their injuries are non-life-threatening. Authorities have taken the May 27, 2026

SK Square breaks clear of Hyundai as AI rally reshuffles Korea's top-five SEOUL, May 27 (AJP) - SK Square, SK Group's investment intermediate holding company, has surged past Hyundai Motor to become South Korea's third-most-valuable listed company, as a rally in artificial-intelligence shares reshapes the upper tier of the market beneath the two dominant chipmakers and rewards firms tied, directly or indirectly, to the semiconductor boom. As of Monday's close, SK Square ranked third at a market capitalization of 155.8 trillion won ($103.8 bill May 27, 2026

Starbucks Korea boycott hits sales after "Tank Day" backlash SEOUL, May 27 (AJP)-Starbucks Korea under Shinsegae Group suffers commercial fallout on top of reputational damage from its “Tank Day” controversy, with payment volumes and new app installations dropping sharply in the week following the backlash over marketing tied to South Korea’s May 18 democratization movement. According to data released Wednesday by AI analytics firm IGAWorks’ Mobile Index, Starbucks Korea’s weekly payment volume fell to 23.69 bil May 27, 2026

KOSPI outshines as Seoul hosts 2 $1 trillion stocks, Nikkei also at record highs SEOUL, May 27 (AJP) - South Korean and Japanese equities surged Wednesday while most other Asian markets moved sideways, highlighting the widening divergence in the region’s AI-driven rally. The KOSPI emerged as the standout performer, briefly topping the 8,400 level a day after entering the new four-digit era, as South Korea became home to two $1 trillion listed companies. As of 11:08 a.m., Seoul’s benchmark index was up 4.29 percent at 8,391.53, while the junior KOSD May 27, 2026

SM Entertainment's sub-label releases compilation album ahead of Europe tour SEOUL, May 27 (AJP) - ScreaM Records, a dance music label under talent behemoth SM Entertainment, released a compilation album on Wednesday ahead of a U.K. and Europe tour scheduled for next month. "K-POP ScreaM 3" reinterprets K-pop songs by SM Entertainment artists including RIIZE and NCT WISH into electronic dance music styles such as jungle, tech house, hard house, bass music and Jersey club. Jersey club is a percussion-driven genre that originated in New Jersey and May 27, 2026

KAIST researchers develop smart antibody to control cancer treatment with light SEOUL, May 27 (AJP) - Researchers at the Korea Advanced Institute of Science and Technology (KAIST) in South Korea have developed an antibody platform that allows immune cells to target and attack cancer cells only when activated by specific light or chemical signals, KAIST said Wednesday. Current cellular therapies, such as CAR-T treatments, can cause severe side effects because engineered immune cells begin attacking immediately upon recognizing cancer, sometimes damaging health May 27, 2026

Quad launches joint Indo-Pacific maritime surveillance initiative SEOUL, May 27 (AJP) - The U.S., Japan, India and Australia agreed Tuesday to launch a joint maritime surveillance initiative in the Indo-Pacific, as growing concerns over disruptions in the Strait of Hormuz and the Red Sea sharpened fears over the vulnerability of global shipping lanes and energy supplies. The four nations — known collectively as the Quad — announced the "Indo-Pacific Maritime Surveillance Collaboration" during a foreign ministers' meeting May 27, 2026