KOSPI sinks more than 6%, erasing weekly gains in violent foreign selloff SEOUL, May 15 (AJP) — South Korean stocks suffered a brutal reversal Friday as the benchmark KOSPI plunged more than 6 percent, wiping out all gains made earlier this week after foreign and institutional investors rushed to lock in profits once the index briefly crossed the 8,000 mark. The KOSPI closed down 6.12 percent at 7,493.18 after swinging wildly between an intraday high of 8,046.78 and a low of 7,371.68. The selloff marked the first intraday drop of more than 6 pe May 15, 2026

HD Hyundai Heavy skips first KDDX bid, expected to join second round SEOUL, May 15 (AJP) - HD Hyundai Heavy Industries did not participate in the first round of bidding for ships for South Korea’s next-generation destroyer project, but is expected to join the second round. According to the Defense Acquisition Program Administration and industry officials on Friday, HD Hyundai Heavy did not complete preliminary registration for the designated competitive bidding process for the Korean Destroyer Next Generation, or KDDX, by Thursday’s deadl May 15, 2026

ASIA INSIGHT: Why did US' big tech titans march into Beijing together? The strategic meaning behind Trump bringing Jensen Huang and Silicon Valley’s AI generals to China The summit held in May 2026 at Beijing’s Great Hall of the People was not merely another diplomatic ceremony between the leaders of the United States and China. It was a vivid demonstration that the architecture of global power in the 21st century is no longer defined solely by armies, alliances, or nuclear arsenals. Increasingly, it is being shaped by artificial intel May 15, 2026

Pulmuone logs record Q1 on overseas turnaround SEOUL, May 15 (AJP) - South Korean food maker Pulmuone reported its strongest-ever first-quarter results, lifted by steady gains at home and a long-awaited turnaround at its overseas units, particularly in the United States. According to regulatory filings released Friday, revenue climbed 7.2 percent from a year earlier to 850.4 billion won ($566.6 million) in the January to March period, while operating profit surged 68.9 percent to 19 billion won. The company said that its earn May 15, 2026

S. Korea celebrates birthday of Hangeul inventor King Sejong the Great SEOUL, May 15 (AJP) - South Korea has celebrated the 629th birthday of King Sejong the Great, the creator of the Korean alphabet Hangeul, with cultural programs and hands-on experiences at Gyeongbokgung Palace in central Seoul on May 15. The Ministry of Culture, Sports and Tourism said commemorative events took place at Heungnyemun Square inside Gyeongbokgung Palace, offering visitors a chance to experience the Korean language and traditional culture th May 15, 2026

ASIA INSIGHT: Will US-China summit help ease tensions in Iran? When will the joint statement on Iran’s nuclear freeze and freedom of navigation in the Strait of Hormuz truly take effect? The real significance of the May 2026 summit in Beijing between the leaders of the United States and China extended far beyond the management of bilateral relations. Behind the carefully staged diplomacy lay a much larger calculation: the urgent need to stabilize the Middle East, preserve the global flow of energy, and prevent financial markets fr May 15, 2026

From K-Pop to K-Ink: Korea prepares to bring tattooing into the open SEOUL, May 15 (AJP) - Since a 1992 Supreme Court ruling effectively restricted tattoo procedures to medical professionals, South Korea’s tattoo industry has operated in a legal gray zone. Under the newly passed Tattooist Act, the country is now building its first national licensing and safety framework for non-medical tattoo practitioners. The law, overseen by the Ministry of Health and Welfare, passed the National Assembly on Sept. 25, 2025 and is scheduled to take effect t May 15, 2026

Hanwha signs teaming agreement with Milrem Robotics for Romanian UGV program SEOUL, May 15 (AJP) - Hanwha Aerospace has signed a teaming agreement with Estonia’s Milrem Robotics to jointly pursue Romania’s unmanned ground vehicle program, as the South Korean defense firm seeks to expand its presence in the European market. The agreement was signed during the Black Sea Defense & Aerospace, or BSDA 2026, exhibition in Bucharest by Hanwha Aerospace, its Romanian subsidiary Hanwha Aerospace Romania and Milrem Robotics, Hanwha Aerospace said Frida May 15, 2026

Orion's Q1 operating profit jumps 26% on robust overseas sales SEOUL, May 15 (AJP) - South Korean confectioner Orion announced that its first-quarter operating profit climbed 26 percent from a year earlier to 165.5 billion won ($109.9 million), powered by brisk demand at its overseas subsidiaries. Consolidated revenue rose 16 percent to 930.4 billion won in the January to March period, according to a regulatory filing released Friday. Orion, the country's second-largest snack maker and the original producer of Choco Pie, said overseas units May 15, 2026

Asia's next harvest held hostage by the drawn-out Hormuz disruption SEOUL, May 15 (AJP) - The Middle East war that began with oil is now squeezing Asia's soil. Nearly three months into the closure of the Strait of Hormuz, the disruption that first hit refineries and shipping desks is migrating into rice paddies, urea silos and government budgets across a continent that feeds more than half the world's population. About one-third of global seaborne fertilizer trade and roughly 35 to 45 percent of world urea exports normally pass through the n May 15, 2026