• 
  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
• 
  Former South Korean prime minister Lee Hong-koo dies at 92 SEOUL, May 05 (AJP) - Former South Korean Prime Minister Lee Hong-koo, a prominent scholar-statesman who led the government during the mid-1990s and managed critical diplomatic ties with the United States, died on May 5. He was 92. Lee served as a rare bridge between academia and high-level politics, holding senior positions under both conservative and liberal administrations. His career spanned several pivotal moments in modern South Korean history, including the 1997~1998 Asian May 5, 2026
• 
  South Korea confirms HMM NAMU crew safety after Hormuz blast SEOUL, May 05 (AJP) - South Korea has confirmed Tuesday that all 24 crew members of the HMM NAMU are safe and the onboard fire has been extinguished following an explosion in the Strait of Hormuz. The confirmation allows the government to transition from an emergency rescue operation to a technical investigation into the cause of the damage. The HMM NAMU, a vessel operated by the flagship carrier HMM, suffered the explosion at 8:40 pm (1140 GMT) on Monday near the United Arab Em May 5, 2026
• 
  Trump pressures South Korea to join Project Freedom after ship explosion in Hormuz Strait SEOUL, May 05 (AJP) - Following a mysterious explosion on a South Korean cargo vessel in the Strait of Hormuz on Monday, the United States' President Donald Trump has publicly pressured South Korea to deploy military forces to a U.S.-led maritime mission "Project Freedom" in the Hormuz Strait. Trump directly linked the safety of commercial shipping to participation in the naval mission, while explicitly attributing the explosion to an Iranian attack. The incident mar May 5, 2026
• 
  Circus casts a little magic over Children's Day on Nodeul Island SEOUL, May 04 (AJP) - A little magic settled over Nodeul Island this Children’s Day as the Seoul Circus Festival turned the riverside island into a world of acrobats, laughter and wide-eyed wonder. From Monday through Tuesday, circus performers tumbled across grassy fields, balanced high above cheering crowds and invited children to step into the spotlight themselves. What began as a performance quickly became a playground where children were no longer spectators, but part of May 5, 2026
• 
  Seoul converts downtown into massive garden for international exhibition SEOUL, May 04 (AJP) - Seoul transformed into a massive public garden as the 2026 Seoul International Garden Show opened Friday in the Seoul Forest and Seongsu, the western district of hipsters and foreign tourists. The exhibition is scheduled to run through October 27. The event spans approximately 90,000 square meters and features 167 distinct gardens, making it the largest horticultural show in the history of the capital. According to the Seoul Metrop May 4, 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
• 
  KOSPI hits record high, approaching the 7,000 mark SEOUL, May 04 (AJP) - Korea’s benchmark KOSPI led gains across Asia on Monday, surging more than five percent to a fresh high as markets in China and Japan remained closed for holidays, while Hong Kong posted comparatively modest gains. The KOSPI closed 5.12 percent higher at a record 6,936.99, after moving between an intraday low of 6,741.63 and a high of 6,937.00. The rally was driven by strong foreign and institutional buying, with foreign investors purchasing 3.00 t May 4, 2026
• 
  In South Korea, even sleep becomes a public competition SEOUL, May 04 (AJP) - In South Korea, where overwork and sleep deprivation have become almost a national condition, even rest now comes with rules, timers and a scoreboard. At the Han River on Saturday afternoon, 170 contestants arrived armed with plush toys, mosquito-proof determination and creative signs — including one reading, “Don’t wake me up unless you’re a prince” matched in modern-day Sleeping Beauty gown for Seoul’s annual Han River Na May 4, 2026
• 
  South Korean film 'My Name' wins Audience Award at Italian festival SEOUL, May 04 (AJP) - South Korean film "My Name," directed by Chung Ji-young and centering on the 1948 Jeju 4.3 massacre, won the Audience Award at the Udine Far East Film Festival in Italy on Monday, the film's distributor Let's Films said. The victory at Europe's largest festival dedicated to Asian cinema suggests that South Korean historical narratives are gaining universal resonance through popular vote. The Audience Award is determined by direct ballots May 4, 2026