Iran's Hormuz submarines trace lineage to class linked to sinking of ROKS Cheonan SEOUL, May 12 (AJP) — Iran’s reported deployment of additional Ghadir-class midget submarines in the Strait of Hormuz as tensions with the United States intensify is reviving painful memories in South Korea of the country’s deadliest postwar naval disaster. The 2010 sinking of the ROKS Cheonan, which killed 46 South Korean sailors near Baengnyeong Island in the Yellow Sea, was attributed by a multinational investigation to a North Korean Yono-class midget submarine May 12, 2026

AI-related policy uncertainty sends KOSPI on rollercoaster ride SEOUL, May 12 (AJP) - South Korea's benchmark KOSPI suffered the sharpest decline among Asian markets on Tuesday, reversing sharply after briefly approaching the 8,000 threshold as foreign investors unloaded semiconductor shares amid growing uncertainty over the country's artificial intelligence (AI)-related policies. The index closed down 2.3 percent at 7,643.15 points after swinging between a high of 7,999.67 and a low of 7,421.71. Investor sentiment deteriorated rapidl May 12, 2026

A rollercoaster day for KOSPI before testing new 8,000 peak SEOUL, May 12 (AJP) -South Korea’s benchmark KOSPI swung violently on May 12 after briefly nearing the symbolic 8,000-point threshold before tumbling into its first decline in six sessions, underscoring the heightened volatility gripping one of the world’s hottest equity rallies. The KOSPI opened at a record 7,953.41, up 1.68 percent from the previous session, and climbed as high as 7,999.67 in early trading — just shy of the historic 8,000 level — before a May 12, 2026

Asian Wisdom Series: Taoism in the Age of Artificial Intelligence Humanity stands today at the threshold of a profound civilizational transformation. Beyond the Industrial Revolution and the Information Age, the world has now entered the era of artificial intelligence. AI is no longer merely a machine for calculation. It understands language, composes music, generates images, assists in medicine, analyzes financial markets and increasingly participates in military strategy. Domains once believed to belong exclusively to human intellect and reason May 12, 2026

Another round of cash vouchers for lower-income households to begin next week SEOUL, May 12 (AJP) - Another round of cash handouts to help ease the burden on households hit hardest by soaring fuel prices is set to be available to those in the bottom 70 percent of the income bracket starting next week. Those eligible can sign up for cash vouchers from May 18 to July 3 through mobile apps or by visiting banks or local community centers, and will receive between 100,000 won (US$70) and 250,000 won, with larger households and those in certain rural and provincial May 12, 2026

Cockpit feud poses stumbling block in final-leg race toward Dec. 17 Korean Air-Asiana merger SEOUL, May 12 (AJP) - Korean Air and Asiana Airlines are entering the final-leg race toward their Dec. 17 integration deadline, but a growing feud over cockpit hierarchy poses as a major stumbling block to a smooth merger. The Korean Air Pilots’ Union held a closed-door meeting in Seoul on Tuesday, bringing together about 200 members to discuss how pilot seniority should be managed after the merger, according to union officials. “This meeting was not convened to call May 12, 2026

Crimson Desert hit propels Pearl Abyss Q1 profit 26-fold SEOUL, May 12 (AJP) - South Korean game developer Pearl Abyss reported that its first-quarter operating profit surged nearly 26-fold from a year earlier, propelled by the runaway success of action-adventure title Crimson Desert, which has reshaped the studio's financial trajectory since its March 20 launch. According to regulatory filings released Tuesday, operating profit on a consolidated basis came in at 212.1 billion won ($142.4 million), a whopping 2,597.4 percent jump from May 12, 2026

Seoul opens Korean War memorial garden honoring wartime support from allies SEOUL, May 12 (AJP) - A memorial garden dedicated to soldiers who died in the Korean War was unveiled at Gwanghwamun Square in central Seoul at a ceremony on Tuesday. The ceremony was attended by war veterans and ambassadors from 22 countries that sent troops and provided support during the 1950–53 Korean War. According to the Seoul Metropolitan Government, the "Garden of Gratitude" consists of a ground-level space with rifle-shaped installations symbolizing the s May 12, 2026

India enters austerity drive as oil, gold imports strain forex reserves SEOUL, May 12 (AJP) — India’s 1.5 billion people are being asked to travel less, farm more efficiently and, most notably, cut back on gold purchases, underscoring the severity of the blow the three-month-long Middle East energy shock is dealing to Asia’s fastest-growing major economy. In a national address on Sunday, Prime Minister Narendra Modi urged citizens to avoid buying gold for the next year, reduce unnecessary overseas travel and curb energy consumption as May 12, 2026

Following the tracks, following the taste: Jeonju in cinematic experience *Editors’ Note: This is part of AJP’s photo essay series exploring railway journeys across South Korea in search of local food and regional culture. This installment travels to Jeonju during the Jeonju International Film Festival, where cinema, traditional streets and local cuisine came together beneath the spring sky. SEOUL, May 12 (AJP) - The 27th edition of the Jeonju International Film Festival transformed Jeonju into more than a destination for cinema. Under the May 12, 2026