Glowing lanterns greet Buddha's Birthday SEOUL, May 19 (AJP) - On an early summer night, thousands of colorful lanterns lit up the streets of Seoul as small lights gathered into a massive procession. The glowing lanterns reflected not only a long-standing tradition, but also a sense of community and shared hope. Ahead of Buddha's Birthday, the annual Yeondeunghoe took place on May 16 across central Seoul. Citizens and foreign visitors gathered along the route stretching from Heunginjimun May 19, 2026

KOSPI tumbles 3.3% as chip-cycle peak fears trigger foreign selloff SEOUL, May 19 (AJP) - South Korean benchmark KOSPI tumbled 3.3 percent Tuesday as foreign investors offloaded shares amid growing concerns that the global memory-chip cycle is nearing its peak. Foreign investors drove the decline on the main bourse, selling 5.34 trillion won ($3.55 billion) worth of shares to outweigh combined purchases by retail and institutional investors. The selloff heavily impacted semiconductor and artificial intelligence-related stocks following an overnigh May 19, 2026

South Korean elementary school violence rate hits 12.5 percent SEOUL, May 19 (AJP) - One in eight South Korean elementary school students experienced school violence last year, driven by a surge in physical altercations and a collapse in bystander intervention, a survey showed Tuesday. The findings highlight persistent challenges in youth protection just a year after the government overhauled its disciplinary review system. A survey of 8,476 students conducted late last year by the Blue Tree Foundation found 12.5 percent of elementary students May 19, 2026

ASIA INSIGHT: Twelve weeks on, Middle East conflict still has no way out SEOUL, May 19 (AJP) - Now about 12 weeks into the conflict in the Middle East which began with joint U.S. and Israeli airstrikes against Iran in late February, there is still no end in sight. What some expected to be a short, contained confrontation has instead become a prolonged regional crisis with widening economic and political consequences. At the center of the prolonged standoff is a fundamental issue. Both sides say they want a deal, but they remain far apart on what that dea May 19, 2026

ASIA DEEP INSIGHT: Pacific forgets ghosts as Japan embraces arms trade By welcoming Japanese military exports, Manila helps Tokyo dismantle an eighty-year pacifist legacy in the name of regional deterrence. When Philippine President Ferdinand Marcos Jr. recently addressed the press to welcome Japan’s decision to loosen its post-war ban on lethal weapon exports, his phrasing was carefully calibrated for the current geopolitical moment. Japan and the Philippines, he noted, have faced "the same difficulties." He was referring, of cour May 19, 2026

Lee brings heritage-inspired gifts for Japanese PM to Andong summit SEOUL, May 19 (AJP) - President Lee Jae-myung is set to meet Japanese Prime Minister Sanae Takaichi at a summit in Andong, North Gyeongsang Province on Tuesday. Lee has prepared locally themed gifts for Takaichi, according to Cheong Wa Dae. Among them is a framed set of wood carvings depicting nine types of traditional folk masks, a well-known symbol of Andong, home to Hahoe Village, one of the country's most notable living repositories of Joseon-era heritage. The item was c May 19, 2026

Hyundai Mobis hosts Silicon Valley robotics forum with record turnout SEOUL, May 19 (AJP) - Hyundai Mobis held its fifth annual Mobis Mobility Day in Sunnyvale, California, drawing a record crowd of about 400 attendees as the South Korean auto parts maker pushes into robotics and physical AI amid a broader shift away from its traditional mobility focus. The event, held Monday local time, drew more than double the turnout of the previous year, reflecting mounting interest from local startups, automakers, and investors in the company's expanding tec May 19, 2026

US approves $4 billion arms sales to South Korea SEOUL, May 19 (AJP) - The U.S. State Department has approved potential arms sales to South Korea worth over $4 billion, including upgrade programs for Apache attack helicopters. The department’s Bureau of Political-Military Affairs said Monday that it approved a possible Foreign Military Sale requested by the South Korean government for 24 MH-60R helicopters, along with related weapons and equipment. The estimated cost of the helicopter package is $3 billion. The State D May 19, 2026

KOSPI opens lower as end-of-chip-rally fears hammer tech shares SEOUL, May 19 (AJP) - South Korean stocks opened lower Tuesday as growing concerns of a peak in the global memory-chip cycle triggered an overnight selloff in U.S. technology shares, dragging down semiconductor and artificial intelligence (AI)-related stocks. The benchmark KOSPI fell 2.47 percent to 7,330.44 about an hour into trading, while the junior KOSDAQ dropped 1.69 percent to 1,092.34. The South Korean won was largely unchanged at 1,500.10 per dollar, from 1,500.30 in the pri May 19, 2026

Samsung Live: Another last-ditch round of talks underway as strike deadline looms SEOUL, May 19 (AJP) - Samsung Electronics and its largest labor union returned to the negotiating table on Tuesday for a second day of government-mediated talks, with a planned full-scale strike just two days away. Negotiators from both sides are working to reach a deal over disputes involving wages and performance bonuses following massive profits fueled by an unprecedented artificial intelligence (AI)-driven semiconductor supercycle. According to Samsung insiders, the closed- May 19, 2026