Hanwha Power signs MOU with Canadian university to support submarine bid SEOUL, May 26 (AJP) - Hanwha Power Systems said Tuesday it has signed a memorandum of understanding with the University of Alberta to jointly conduct research and development on clean energy technologies, as part of efforts to support Hanwha Ocean’s bid for Canada’s submarine procurement project. The agreement, signed Friday, was arranged as part of an industrial and technological cooperation program linked to the Canadian Patrol Submarine Project, or CPSP, in which Hanw May 26, 2026

Shinsegae chief's apology over Starbucks controversy - text SEOUL, May 26 (AJP) -Below is the full statement of Shinsegae Group chairman Chung Yong-jin's apology over Starbucks Korea's "Tank Day" controversy. To the people of the nation, I stand before you today with a heavy and apologetic heart. First, as chairman of Shinsegae Group, I sincerely bow my head in apology and ask for forgiveness from the bereaved families of the victims of the May 18 Democratic Uprising, the bereaved family of the late activist Park Jong- May 26, 2026

BTS attend AMAs in Las Vegas, eyeing another award SEOUL, May 26 (AJP) - Members of K-pop juggernaut BTS are attending the American Music Awards (AMAs), one of the major U.S. pop music awards shows in Las Vegas on Monday. Their in-person attendance at the annual music awards ceremony at the MGM Grand Garden Arena comes for the first time since 2021. They are competing for "Artist of the Year" and "Best Male K-pop Artist" awards. Their latest song, "SWIM," the title track from their fifth full-len May 26, 2026

Shinsegae's Chung vows to take full responsibility over police finding SEOUL, May 26 (AJP) -Shinsegae Group Chairman Chung Yong-jin issued a second public apology Tuesday over Starbucks Korea's controversial "Tank Day" promotion, bowing deeply in a five-minute televised public apology and saying he would seek forgiveness "through actions, not words" in a rare public act of contrition by a major South Korean business leader. Speaking at the Josun Palace hotel in Seoul, Chung said the company took the controversy "very heavil May 26, 2026

KOSPI breaks 8,000 as oil retreat lifts Asia, though the rally rests on unfinished Iran deal SEOUL, May 26 (AJP) - South Korea's Kospi pushed above the 8,000 mark at Tuesday's open, reaching roughly 8,060 as the market reopened from a holiday to a weekend of falling oil prices and record highs across Asia, even as the diplomatic breakthrough driving the move remained far from settled. The benchmark traded about 2.7 percent above Friday's close of 7,847.71. It marked only the second time the index has crossed 8,000 and the first time it has opened and sustained t May 26, 2026

S. Korean prosecutors seek arrest of YouTuber over AI-fabricated rumors involving actor Kim Soo-hyun SEOUL, May 25 (AJP) - South Korean prosecutors have sought an arrest warrant for a prominent YouTuber on charges of defaming actor Kim Soo-hyun and the late actress Kim Sae-ron through heavily fabricated evidence, including AI-manipulated audio. The legal representative for Kim Soo-hyun reaffirmed on Sunday their policy of not directly responding to the allegations, emphasizing that the actor is strictly a victim of a cybercrime. "Actor Kim Soo-hyun is simply a victim of a May 25, 2026

AJP Watch: Samsung's 'fixed stock bonus' deal sends shockwaves across chip sector and supply chain SEOUL, May 25 (AJP) - Samsung Electronics’ tentative wage agreement is nearing ratification with near-record union turnout, crystallizing a new dilemma in the AI era: how far semiconductor giants can go in sharing windfall profits before it begins to strain investment capacity, deepen social divisions and unsettle global competitors. The deal can avert an immediate strike that threatened to disrupt the memory supercycle underpinning South Korea’s exports and stock rall May 25, 2026

North Korea to convene party plenum and may harden 'two-state' line SEOUL, May 25 (AJP) - North Korea will convene a key Workers’ Party meeting in late June to review first-half policy implementation and discuss its agenda for the rest of the year, state media reported Monday, in what could offer clues to Pyongyang’s next steps after formally erasing unification from its constitution. The ruling party’s Political Bureau adopted a decision on Sunday to call the second plenary meeting of the ninth Central Committee in late June, th May 25, 2026

China accelerates semiconductor ecosystem push, courting South Korean SMEs SEOUL, May 25 (AJP) - Chinese local governments are intensifying efforts to build comprehensive semiconductor supply chains, aggressively targeting South Korean materials, parts, and equipment suppliers with extensive incentive packages. During a recent South Korea-China economic cooperation forum in Zhangjiagang, Jiangsu Province, Chinese municipalities showcased a strategic shift from simply attracting individual factories to developing entire high-tech industrial parks. Local g May 25, 2026

LG OLED TV secures top ratings in 14 global consumer media evaluations SEOUL, May 25 (AJP) - LG Electronics’ OLED TV secured the highest scores in performance evaluations conducted by consumer media outlets across 14 countries globally. The product achieved top rankings in major markets across North America, Europe, and Australia. Consumer media assessments, which were conducted independently on commercially available products, noted the TV's performance in key features such as accurate color reproduction, High Dynamic Range (HDR) performan May 25, 2026