• 
  Korean refiners estimate bumper Q1 but beyond uncertain SEOUL, May 03 (AJP)-South Korea’s four major refiners are estimated to have posted combined first-quarter operating profits nearing 5 trillion won ($3.6 billion) on spike in export margins from cheaper inventories due to the blockade of the Strait of Hormuz, though the windfall is expected to be short-lived once cheaper crude inventories are exhausted. According to market consensus compiled by brokerages, SK Innovation is estimated to have turned out an operating profit of ab May 3, 2026
• 
  Second Korean tanker reroutes via Red Sea as Seoul presses Iran on Hormuz safety SEOUL, May 03 (AJP) - A second South Korean tanker carrying crude oil has safely passed through the Red Sea and is en route to South Korea, authorities said Sunday, underscoring Seoul’s growing reliance on alternative shipping routes as the blockade of the Strait of Hormuz continues to disrupt global energy logistics. The Ministry of Oceans and Fisheries said Sunday the vessel had safely transited the Red Sea as of 10 a.m. after loading crude at Saudi Arabia’s Yanbu po May 3, 2026
• 
  Korea's AI boom is outrunning its safeguards, exposing widening governance gap SEOUL, May 03 (AJP) - Artificial intelligence is no longer an emerging technology in South Korea. It is already embedded across offices, software engineering, media production, education and financial services at one of the fastest rates in the world. The problem, experts increasingly warn, is that the systems designed to govern that transformation are evolving far more slowly than the technology itself. “Many organizations claim to have ethical frameworks, but few can de May 3, 2026
• 
  Samsung's AI chip bonanza fuels bitter divide inside Korea's biggest company SEOUL, May 03 (AJP)-Inside Samsung Electronics, the celebration over record-breaking first-quarter earnings is rapidly turning into a battle over who deserves the spoils of the AI boom. The South Korean tech giant, now ranked among the world’s largest technology companies alongside Apple, Microsoft and Nvidia by market value and profit scale, posted an all-time quarterly operating profit of 57.2 trillion won ($41 billion) for the January-March period. But the numbers expose May 3, 2026
• 
  How the Iran conflict is building into Asia's economic crisis SEOUL, May 02 (AJP) - The U.S. congressional deadline to end an unauthorized combat operation has closed in, but President Donald Trump remains unmoved. In letters sent Friday to House Speaker Mike Johnson and Senate president pro tempore Chuck Grassley, Trump reiterated his administration's position that a cease-fire declared on April 7 had stopped the clock on the war — and that "Operation Economic Fury" is still squeezing Iran toward implosion through a naval May 3, 2026
• 
  BIGBANG to reopen fan club after 11 years ahead of comeback SEOUL, May 02 (AJP) - K-pop boy band BIGBANG will recruit members for its official fan club, V.I.P, for the first time in 11 years ahead of the group’s 20th anniversary comeback, YG Entertainment said Saturday. The group unveiled a teaser poster for the recruitment of the sixth generation of V.I.P through its official social media channels on Friday. It marks the first official fan club drive since 2015. The poster features BIGBANG’s official light stick, known as B May 2, 2026
• 
  Seoul weighs role in Hormuz security efforts as US plan adds new variable SEOUL, May 02 (AJP) - South Korea is weighing how to contribute to multinational efforts to secure safe passage through the Strait of Hormuz, as a separate U.S.-led proposal adds another layer of complexity to ongoing discussions led by Britain and France. Military authorities have been taking part in talks on supporting the reopening of the key waterway after the war, starting with a virtual meeting of chiefs of staff hosted by France in March and followed by senior-level military May 2, 2026
• 
  Pokémon leaps off screen as game IP craze paralyzes Seongsu SEOUL, May 02 (AJP) - Crowds are continuing to line up for a Pokémon pop-up event in Seoul’s Seongsu-dong on Saturday, a day after tens of thousands of fans packed the area and prompted organizers to suspend parts of the event just hours after it opened. The continuing turnout shows how game and animation intellectual property, or IP, is increasingly moving beyond screens into offline spaces, drawing massive crowds through pop-up stores and experience-based events. T May 2, 2026
• 
  Soaring fuel surcharges push up overseas travel costs amid Iran war SEOUL, May 02 (AJP) - International airfare costs are set to rise sharply this month as higher oil prices driven by the U.S.-Iran war push fuel surcharges to a record level, adding pressure on travelers and forcing airlines to cut more flights. Tickets issued from May 1 are subject to the highest fuel surcharge level of 33, which applies when jet fuel prices exceed 470 cents per gallon, according to the airline industry. The benchmark Singapore jet fuel price, known as MOPS, reac May 2, 2026
• 
  Trump's Germany troop cut, EU tariff hike fuel concerns in Seoul SEOUL, May 02 (AJP) - U.S. President Donald Trump’s decision to withdraw thousands of troops from Germany and raise tariffs on EU vehicles starting next week is raising concerns in Seoul over whether Washington could use similar pressure against South Korea. The moves come amid growing tensions between the U.S. and its allies over their response to the Iran war. The Pentagon said Friday that Defense Secretary Pete Hegseth had ordered the withdrawal of about 5,000 U.S. troops f May 2, 2026