ASIA INSIGHT: China takes wheel in EV era while Japan and South Korea feel pinch SEOUL, May 26 (AJP) - There was a time when the global automobile world felt almost immutable. Germany stood for engineering precision. Japan perfected reliability. America sold aspiration. And China simply assembled parts. That no longer holds. Electric vehicles are not simply a new kind of car. They are a new kind of industrial system. In that shift, China has done something few expected, moving from the margins of manufacturing to the center of technological competition. Chi May 26, 2026

ARKO connects 15 performing arts festivals under summer series SEOUL, May 26 (AJP) - The Arts Council Korea will launch the 2026 ARKO SUM FESTA in July, bringing together 15 performing arts festivals across the country under a single brand, the council said Tuesday. ARKO SUM FESTA was introduced last year as an integrated brand for festivals selected under the council's national performing arts festival support program. This year's edition will focus on strengthening links among participating festivals and expanding audience acc May 26, 2026

AJP Focus: 1,500 won per USD holds as capital outflows outweigh C/A surplus SEOUL, May 26 (AJP) - The South Korean won continues to hover near the 1,500-per-dollar mark despite solid economic indicators that would traditionally lift the currency, underscoring what analysts describe as a structural shift in the country's foreign exchange dynamics. The won closed at 1,504 against the dollar on Tuesday, holding sharply weaker than at the start of the year despite bullish readings on the current account, exports, and equities that have more than offset th May 26, 2026

AJP Watch: Union divide and distrust deepen ahead of Samsung Elec vote SEOUL, May 26 (AJP) - The AI windfall powering record earnings and soaring stock prices is increasingly turning into a curse in disguise for Samsung Electronics, as wage negotiations meant to share the rewards of the semiconductor boom instead expose widening internal disparities and threaten the company’s long-cultivated “One Samsung” ethos. Just days before a crucial ratification vote on the tentative wage agreement, divisions between labor groups escalated int May 26, 2026

Regulators warn of risks over South Korea's first single-stock leveraged ETF SEOUL, May 26 (AJP) - Financial authorities issued an investor warning as South Korea prepares to permit the listing of "single-stock leveraged ETFs and ETNs" for the first time in the domestic market. As these instruments track two times the daily performance of specific individual stocks—Samsung Electronics and SK hynix — the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) warned that they can conversely accelerate catastrophic May 26, 2026

Korean submarine scores high with Canadian crew ahead of Ottawa decision SEOUL, May 26 (AJP) - The Canadian crew after their first onboard journey aboard a South Korean submarine had only high praise for the ROKS Dosan Ahn Chang-ho, boosting Team Korea’s momentum in the final stretch of Ottawa’s multibillion-dollar competition to replace its aging submarine fleet. The KSS-III-class diesel-electric submarine arrived at Canadian Forces Base Esquimalt on Saturday after a nearly two-month voyage from Jinhae in southern Korea, marking the first tr May 26, 2026

KOSPI touches down above 8,000 for first time amid flat Asian market SEOUL, May 26 (AJP) -South Korean stocks closed above the 8,000 mark for the first time Tuesday as investors rushed to compensate for Monday's market holiday and price in the broader Asian rally fueled by hopes for a reopening of the Strait of Hormuz and renewed momentum in AI-related shares. The benchmark KOSPI surged 2.6 percent to close at 8,047.50 after climbing as high as 8,131.15 during the session. The index stayed above the 8,000 threshold throughout the day and passed t May 26, 2026

Korea holds off on IEA oil release, eyeing August crunch SEOUL, May 26 (AJP) - South Korea is holding back on releasing its share of the International Energy Agency's record emergency oil stockpile, opting to preserve the buffer for a potentially graver supply crunch in August as the Strait of Hormuz remains effectively shut. With the June 9 deadline for Seoul's pledged contribution just two weeks away, Yang Ki-wook, director general for industrial resources security at the Ministry of Trade, Industry and Resources, told reporters May 26, 2026

N. Korea tests mixed-fire tactics as Xi's possible Pyongyang trip looms SEOUL, May 26 (AJP) - North Korea fired several close-range ballistic missiles and artillery rockets into the Yellow Sea on Tuesday, South Korea’s military said, amid speculation that Chinese President Xi Jinping could visit Pyongyang soon. The Joint Chiefs of Staff said it detected various types of projectiles, including close-range ballistic missiles, fired from the area of Jongju, North Pyongan Province, toward waters off the North’s west coast at around 1 p.m. The May 26, 2026

At least 3 dead as old overpass in Seoul partially collapses during demolition SEOUL, May 26 (AJP) - An old overpass in Seoul partially collapsed on Tuesday while workers were demolishing it, as part of the city's broader effort to remove aging infrastructure and spruce up the capital. The accident occurred at around 2:30 p.m. on the overpass in Seosomun, western Seoul, which has been gradually removed since last Summer and is scheduled to be fully demolished by early next month. At least three were dead, several were injured, and rescuers are still sea May 26, 2026