U.S. and Iran are "within reach" of a deal, news that may uplift Asian markets SEOUL, May 29 (AJP) -The United States and Iran are “within reach” of an agreement to end the three-month war that has rattled global energy markets, and the prospect of a reopening of the Strait of Hormuz may help lift Asian stocks Friday after a broad retreat the previous session. U.S. Treasury Secretary Scott Bessent said Washington and Tehran “perhaps have the makings of a deal,” with negotiations centering on a 60-day framework that would gradually unwin May 29, 2026

Campus dips into May festival mood SEOUL, May 28 (AJP) - Students and visitors filled the campus of Yonsei University in western Seoul on Wednesday as university festival season continued across South Korea. Club band performances and student-run booths took place throughout the Sinchon campus near central Seoul, while students wearing school uniforms and varsity jackets moved between food stalls and performance areas, enjoying the festive atmosphere. International students were also seen joining the celebrations a May 28, 2026

Korean authorities step in to contain lodging prices ahead of BTS Busan concerts SEOUL, May 28 (AJP) -South Korean authorities moved quickly to respond to BTS' call for restraint in overcharging the group's beloved global fans traveling to the southern port city of Busan for the next stop on their worldwide tour. The government has secured more than 1,300 alternative accommodation options ahead of the concerts next month, after the group publicly criticized sharp price hikes around the event. The measures were announced Thursday at a task force mee May 28, 2026

Chinese Embassy says USFK chief 'crossed the line' with 'dagger' remarks on Korea SEOUL, May 28 (AJP) - The Chinese Embassy in Seoul has strongly criticized Gen. Xavier Brunson, commander of U.S. Forces Korea, after he described South Korea as a “dagger” in Asia from China’s strategic perspective. In a written response to reporters Thursday, the embassy said Brunson’s recent remarks portrayed South Korea and USFK as a forward base aimed at China, warning that he had “clearly crossed the line.” Brunson said in a U.S. May 28, 2026

Stocks, bonds tumble as BOK chief signals potential rate hikes in 2nd half SEOUL, May 28 (AJP) - South Korea's stock and bond markets were jolted on Thursday after the Bank of Korea (BOK) hinted at potential rate hikes in the second half of the year. While the benchmark KOSPI recovered most of its intraday losses near the close on institutional interpretations of a "healthy" rate hike, government bond prices collapsed, ending sharply lower as monetary tightening was seen as almost certain. The index finished at 8,185.29, down 0.53 percent, May 28, 2026

i-dle lands digital cover of U.S. magazine 'PAPER' ahead of July comeback SEOUL, May 28 (AJP) - K-pop girl group i-dle has been featured on the digital cover of U.S. magazine PAPER as the group prepares for a July comeback. PAPER released the cover shoot and interview with the five-member group — Miyeon, Minnie, Soyeon, Yuqi and Shuhua — on Tuesday. The feature comes as i-dle continues to expand its presence in North America through media appearances, festival stages and overseas promotions. In the cover images, the members reinterpret May 28, 2026

South Korean public sector union vows mass summer rally over pension, labor rights SEOUL, May 28 (AJP) - South Korea’s largest public officials’ union said Thursday it will launch a nationwide campaign and hold a large-scale rally in July demanding improvements to the civil servant pension system, higher wages, and broader political rights for government employees. The Korean Government Employees’ Union, known as KGEU, held a resolution rally near the presidential Blue House in central Seoul, where union leaders accused the government of overwo May 28, 2026

Samsung's largest union adopts two-track DS-DX bargaining as membership slides SEOUL, May 28 (AJP) - Samsung Electronics’ largest labor union is rapidly losing members in the aftermath of a contentious wage agreement that exposed deepening rifts between the company’s semiconductor and device businesses, prompting the union to adopt a separate “two-track” bargaining structure for its divisions. Samsung Group Labor Union’s Samsung Electronics branch, the company’s largest and majority union, said Thursday its membership fell May 28, 2026

Weak Iranian missiles — not ship armor — explain limited damage to HMM Namu: experts SEOUL, May 28 (AJP) - South Korea's conclusion that the cargo ship HMM Namu—damaged near the Strait of Hormuz on May 4—was likely hit by Iranian missiles has raised a simple question: how did a commercial vessel survive two direct strikes with only minor damage? Defense experts say the answer lies not in the ship's structural strength, but in the missiles' limited performance. The question arose after Seoul announced Wednesday that the two unidentified pr May 28, 2026

South Korea denies report of alliance rift over wartime control transfer SEOUL, May 28 (AJP) - South Korea's Defense Ministry on Thursday dismissed as "groundless" a local media report claiming that President Lee Jae Myung's push for an early transfer of wartime operational control (OPCON) could lead to the dismantling of the current South Korea-U.S. Combined Forces Command (CFC) structure. The ministry said U.S. Forces Korea had raised no objection to plans for a future combined command led by a South Korean four-star general following May 28, 2026