Hanwha highlights unmanned, AI defense systems in Romania SEOUL, May 12 (AJP) - Hanwha Group will showcase next-generation unmanned and artificial intelligence-based military systems at a defense exhibition in Romania this week, as it seeks to deepen partnerships in Europe and expand its presence across EU and NATO markets. Hanwha said Tuesday that its key defense affiliates will participate in the Black Sea Defense & Aerospace, or BSDA 2026, which will take place from Wednesday to Friday at ROMAERO in Bucharest. The biennial event is May 12, 2026

Annual Cannes Film Festival opens with South Korean cinema in spotlight SEOUL, May 12 (AJP) - This year's Cannes Film Festival kicked off its 11-day run in the southern French city on Tuesday, with South Korean films among the highlights. Widely regarded as one of the world's most prestigious film festivals, alongside those in Berlin and Venice, the festival, now in its 79th year, is known for recognizing auteur-driven, bold, and artistic films. Its top prize, the Palme d'Or, also known as Golden Palm, is considered one of the highest hon May 12, 2026

Krafton's 'Subnautica 2' opens Steam preloads as wishlists pass 5 million SEOUL, May 12 (AJP) - Krafton's creative studio Unknown Worlds opened Steam pre-orders and pre-downloads for "Subnautica 2" at midnight Tuesday, three days before the underwater survival sequel enters early access on Friday. The title has held the top spot on Steam's global wishlist for nine straight months and recently crossed 5 million cumulative wishlists, the company said. It also climbed to No. 1 on Steam's global top-grossing chart shortly after pre-order May 12, 2026

Korea joins UK-France-led Hormuz defense talks, Sinokor vessel slips through Hormuz SEOUL, May 12 (AJP) - South Korea will take part in a defense ministerial video conference led by Britain and France on Tuesday to discuss efforts to restore safe passage through the Strait of Hormuz, as Seoul faces growing pressure to clarify its role in a possible multinational maritime mission. The Ministry of National Defense said Woo Kyung-seok, director general for defense policy planning and an Army major general, will attend the meeting on discussions related to a U.K.- and May 12, 2026

BOK holds BIS board seat for third straight term SEOUL, May 12 (AJP) —New governor Shin Hyun-song of the Bank of Korea has been elected to the Board of Directors of the Bank for International Settlements, extending South Korea’s representation at the top decision-making body of the global central banking community for a third consecutive term. The BOK said Tuesday that Shin officially began his three-year term on Monday after being elected as an elected director during a regular board meeting held at the BIS headquar May 12, 2026

CJ CheilJedang Q1 profit falls 26% on bio slump SEOUL, May 12 (AJP) - CJ CheilJedang, South Korea's largest food maker, reported a 26.0 percent drop in first-quarter operating profit, as a sharp downturn in its bio business overshadowed steady gains overseas from its frozen dumpling franchise. According to regulatory filings released Tuesday, operating profit fell to 148.5 billion won ($100 million) for the three months ended March, while revenue edged up 4.3 percent to 4.03 trillion won, the company said. The figures exclude May 12, 2026

ASIA INSIGHT: Xi Jinping crafts imperial mirage at Temple of Heaven The meeting between the world’s two most powerful men is less a diplomatic summit than a calculated ritual of psychological capture. SEOUL, May 12 (AJP) - In a quiet corner of the Treasury Department, the steel plates have been etched with a flourish that feels more like a royal decree than a bureaucratic necessity. For the first time in the history of the American Republic, the currency carries the aggressive, looping signature of the man in the Oval Office. Combined wit May 12, 2026

BLACKPINK's Jennie rakes in billions after establishing her own agency SEOUL, May 12 (AJP) - K-pop star Jennie of BLACKPINK has earned more than 23 billion Korean won (about US$16 million) in just two years since launching her own agency. According to the Financial Supervisory Service's electronic corporate disclosure, OA Entertainment, founded by Jennie, paid her 9.48 billion won last year and 14.31 billion won the year before. The combined total over the two-year period amounts to approximately 23.8 billion won. OA Entertainment posted 23.8 bi May 12, 2026

KOSPI move closer to 8,000 amid retail FOMO demand over AI SEOUL, May 12 (AJP) - South Korea’s benchmark KOSPI barreled toward the 8,000 threshold on Tuesday, nearing another four-digit milestone in just five trading sessions after first testing 7,000, as chip shares continued to attract fear-of-missing-out retail demand. As of 9:46 a.m., the KOSPI stood at 7,939.73, up 1.5 percent, while the tech-heavy KOSDAQ gained 0.83 percent to 1,217.40. The rally was driven largely by strong buying from retail and institutional investors. I May 12, 2026

South Korea reaches 76 million vehicles in 50 years of auto exports SEOUL, May 12 (AJP) - South Korea has exported more than 76 million vehicles over the past 50 years since entering overseas markets, the Korea Automobile & Mobility Association said on Tuesday. The cumulative number of exports reached 76.55 million vehicles as of last month, a milestone that comes nearly half a century after Hyundai Motor first exported its domestically made Pony passenger car to Ecuador in June 1976. The country first hit the 10 million mark in vehicle shi May 12, 2026