South Korean inspectors wrap up probe into fire on cargo vessel in Strait of Hormuz SEOUL, May 10 (AJP) - South Korean inspectors have wrapped up their on-site investigation into a cargo vessel that mysteriously caught fire while anchored near the Strait of Hormuz last week, government authorities said on Sunday. Their inspection into the cause of the fire and explosion on shipping and logistics company HMM's Panama-flagged cargo vessel Namu began later last week after it was towed from the strait to a port in Dubai, the United Arab Emirates (UAE) last Friday May 10, 2026

Defense minister heads to Washington to push for early transfer of wartime troop control SEOUL, May 10 (AJP) - There will be "no major hurdles" in pushing for the speedy transfer of wartime operational control of South Korean troops to Seoul, Defense Minister Ahn Gyu-back said as he left for Washington, D.C. on Sunday for talks with U.S. officials. Speaking to reporters at Incheon International Airport, Ahn said the two countries made "significant progress" through follow-up talks after both sides reached a relevant agreement in 2015, hinting that May 10, 2026

North Korea makes first appearance at Russia's military parade amid deepening ties SEOUL, May 10 (AJP) - North Korea took part in a parade as part of Russia's World War II victory celebrations, state media reported on Sunday. According to the state-run Korean Central News Agency (KCNA), North Korean troops marched in the parade at Moscow's Red Square the previous day marking the 81st anniversary of the Soviet Union's victory over Nazi Germany in World War II, during which Russian President Vladimir Putin expressed his "gratitude." May 10, 2026

More South Koreans borrow to invest in stocks amid KOSPI's historic rally SEOUL, May 10 (AJP) - South Koreans are increasingly borrowing money again to invest in stocks amid a frenzy fueled by a recent record-breaking rally in the Korean stock market. According to financial data released on Sunday, outstanding balances on interest-bearing overdrafts at the country's five major banks - KB Kookmin, Hana, NH NongHyup, Shinhan and Woori - stood at 40.50 trillion Korean won (US$29 billion) as of last week. The amount surged by 715.2 billion won in les May 10, 2026

Standoff with Iran drags on as Trump seeks breakthrough before China trip SEOUL, May 10 (AJP) - Despite U.S. President Donald Trump's optimistic comments about imminent progress with Iran over the weekend, Washington and Tehran have yet to reach a breakthrough in talks to end the months-long Middle East conflict. Sporadic attacks along with exchanges of fire across the Persian Gulf continue to fuel tensions in the region, even as diplomatic efforts appear to remain active behind the scenes. Iranian Foreign Minister Abbas Araghchi told the country&# May 10, 2026

LVMH chief Bernard Arnault to visit Seoul for first time in three years SEOUL, May 09 (AJP) - Bernard Arnault, chairman and CEO of French luxury giant LVMH, is set to arrive in Seoul on Monday for his first visit to South Korea in three years, according to industry sources on Saturday. The visit comes as South Korea continues to solidify its position as a "key strategic market" for global luxury houses. While luxury sales in Europe and Japan have softened amid a global cooling of high-end demand—and Middle Eastern markets have seen a d May 9, 2026

Musinsa's foreign sales hit record high during Northeast Asian 'Golden Holiday' SEOUL, May 09 (AJP) - South Korean fashion platform Musinsa saw its offline sales from foreign tourists reach a record high during the recent "Northeast Asian Golden Holiday," as Japanese and Chinese vacation periods coincided to drive a surge in inbound shopping. According to data released by the company on Friday, sales from foreign customers at 12 of its global-focused stores—including Musinsa Standard and Musinsa Store—rose more than 30 percent between Ap May 9, 2026

S. Korea, U.S. coordinate investment pipeline ahead of new trade law launch SEOUL, May 09 (AJP) - South Korean Trade Minister Kim Jung-kwan met with U.S. Commerce Secretary Howard Lutnick on Saturday to finalize the details of major investment projects slated for rollout under a landmark bilateral investment framework. The meeting, held in Washington, follows the recent signing of a memorandum of understanding on the "MASGA" shipbuilding initiative. However, the talks between the two chiefs focused more broadly on the implementation of South Kor May 9, 2026

'The King's Warden' dominates 62nd Baeksang Arts Awards with grand prize win SEOUL, May 09 (AJP) - The historical blockbuster "The King's Warden" swept the 62nd Baeksang Arts Awards on Friday, with lead actor Yoo Hae-jin securing the Grand Prize (Daesang) in the film category. The film, which recently became the second highest-grossing South Korean production of all time with 16.8 million admissions, took home four awards at the ceremony held at COEX in Seoul. Beyond the night’s top honor, the production earned the Gucci Impact Award, w May 9, 2026

BTS draws 65,000 fans in triumphant Mexico City return after decade-long hiatus SEOUL, May 09 (AJP) - K-pop giant BTS made a long-awaited return to Mexico City on Friday, performing before a sold-out crowd of 65,000 at the Estadio GNP Seguros. The concert marked the group's first appearance in the Mexican capital since 2017, ending a nearly decade-long wait for local fans. The performance opened with "Hooligan," a track from their latest album Arirang, instantly energizing a stadium situated 2,240 meters above sea level. The setlist showcased a May 9, 2026