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  Seoul imposes 30-day taxi suspensions, but deeper issues remain SEOUL, May 08 (AJP) - “I thought that was just the normal price at first,” said Teo, a 28-year-old Singaporean who visited Seoul last month after paying around 50,000 won ($36) for a roughly 20-minute taxi ride from Seoul station to his hotel. South Korea will suspend taxi drivers for 30 days from their very first violation if they are caught overcharging foreign passengers, as authorities move to curb mounting complaints from overseas visitors. However, experts say to May 8, 2026
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  YG doubles operating profit Q1 on year on BLACKPINK comeback SEOUL, May 08 (AJP) - South Korea’s K-pop powerhouse YG Entertainment more than doubled first-quarter operating profit as revenue from BLACKPINK and rising contributions from younger artists boosted earnings, reinforcing expectations for a stronger comeback cycle this year despite weaker-than-expected net profit. According to its earnings report released Thursday, YG Entertainment posted an operating profit of 19.4 billion won ($13.2 million) in the January-March period, up May 8, 2026
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  Samsung Elec management, union to sit down at govt mediation SEOUL, May 08 (AJP) - Samsung Electronics and its union agreed to meet next week to iron out differences and possibly avert a full-scale strike scheduled for May 21, after the South Korean government stepped in amid fears that labor unrest could undermine a key pillar sustaining the economy and the stock market rally. The Samsung Electronics Labor Union (SELU) announced Friday it will enter a formal "post-mediation" process, with intensive negotiations scheduled for May May 8, 2026
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  New Zealand ambassador hosts Māori culture night in Seoul SEOUL, May 08 (AJP) - New Zealand Ambassador Dawn Bennet hosted an evening of traditional Māori performance at her Seoul residence on Thursday, emphasizing the deep-seated societal parallels between New Zealand and South Korea. The event brought together influential guests to witness indigenous cultural displays, signaling a continued commitment to soft-power diplomacy between the two nations. The two nations share a history that predates their modern economic ties, beginning with May 8, 2026
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  South Korea pushes for drone autonomy through standardization SEOUL, May 08 (AJP) - South Korea is moving to standardize its drone industry around K-MOSA as the government seeks to shorten development cycles, lower production costs and build a scalable domestic manufacturing ecosystem for unmanned systems. The initiative comes as drones rapidly redefine modern warfare from Ukraine to the Middle East, exposing how military competitiveness increasingly depends not only on advanced unmanned systems but also on resilient supply chains and the cap May 8, 2026
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  Kolmar posts record quarterly profit amid rising demand for sunscreen products SEOUL, May 8 (AJP) - Cosmetics maker Kolmar posted its best-ever quarterly results, thanks to surging demand for sun-care products ahead of the summer season. Its operating profit for the first three months of this year rose 31.6 percent from a year earlier to 78.9 billion Korean won (about US$54 million), while revenue increased 11.5 percent to 728 billion won and net profit jumped 158.7 percent to 60 billion won. Both operating profit and revenue reached record highs for May 8, 2026
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  Lotte Wellfood Q1 operating profit more than doubles on overseas growth SEOUL, May 08 (AJP) - South Korean confectionery maker Lotte Wellfood announced that its first-quarter operating profit more than doubled from a year earlier, lifted by brisk sales in India and Kazakhstan that helped offset sluggish domestic demand. According to regulatory filings released Friday, operating profit jumped 118.4 percent to 35.8 billion won ($24.3 million) on a consolidated basis. Revenue rose 5.4 percent to 1.03 trillion won, while net profit slipped 26.6 percent to 1 May 8, 2026
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  Flower market bustles with shoppers on Parents' day SEOUL, May 08 (AJP) -In South Korea, spring does not fully arrive until the carnations appear. Every year on May 8, families across the country celebrate Parents' Day, a national observance dedicated to honoring both mothers and fathers. Streets fill with bouquets wrapped in pink paper, flower stalls spill over with red carnations, and schoolchildren clutch handmade pins and handwritten letters on their way home. The carnation has become the defining symbol of the holiday & May 8, 2026
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  South Korea loses ground in ship orders as China sweeps up new contracts SEOUL, May 8 (AJP) - South Korea's share of global ship orders fell sharply in April despite a rebound in global ship orders, as China swept up a far larger portion of new contracts, according to data released by London-based Clarkson Research Services on Friday. Global ship orders for the month totaled 6.49 million compensated gross tons (CGT) or 204 vessels, up 21 percent from a year earlier. South Korea secured just 16 percent of global orders or 1.05 million CGT acros May 8, 2026
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  Chinese robot cleaners sweep Korean homes as data worries linger SEOUL, May 08 (AJP) - "Life is so different that I classify things before and after Roborock came into our lives," said 50-year-old Korean housewife Lee Young-joo. She is far from alone. Chinese robot vacuum maker Roborock has crossed the symbolic 50 percent threshold in South Korea's robot vacuum market, overturning a long-held assumption in one of the world's most brand-conscious appliance markets: that Chinese electronics brands would remain bargain-bin alter May 8, 2026