Seoul

June 12 (Asia Today) — Thousands of South Korean soccer fans packed Gwanghwamun Square in central Seoul on Friday, cheering, gasping and celebrating through South Korea’s 2-1 comeback victory over Czechia in its opening match of the 2026 FIFA World Cup.

“Dae-han-min-guk! Until the end!” fans shouted as the square turned red with supporters wearing national team jerseys and carrying South Korean flags, cheering sticks and handheld fans.

The Group A match was played Friday morning in South Korea, but the weekday timing did little to slow the crowd. Children, office workers and longtime members of the Red Devils, South Korea’s national soccer supporters’ group, gathered in front of a large outdoor screen set up near the square.

When the opening whistle sounded at 11 a.m., fans shouted “Fighting!” and “Let’s win!” Police unofficially estimated about 3,000 people had gathered at the square at the start of the match.

The temperature in Seoul rose to 28 degrees Celsius, or 82.4 degrees Fahrenheit, under clear skies. Many fans used parasols, portable fans and folding fans to cope with the heat.

Some supporters took vacation days to watch the match in public. Lee Hyun-soo, 37, an office worker who came with his elementary school-age child, said he used annual leave so they could cheer together.

“The next day is the weekend and my child also filed for an experiential learning day, so I took the day off,” Lee said. “It is very hot, but it is better than cloudy or rainy weather.”

South Korea controlled much of the early play but failed to score in the first half. When chances ended without a goal, fans grabbed their heads and groaned in frustration.

The crowd grew sharply near halftime as office workers from nearby buildings joined during their lunch breaks. Some skipped restaurant meals and watched while eating toast or convenience store food.

Kim Sung-il, 28, who works near Gwanghwamun Station, said he came with co-workers to watch the second half.

“Lunch break gives us enough time to watch the second half,” Kim said. “I hope the result lets us start the afternoon shift happily.”

As the crowd swelled, police and event staff moved quickly to control pedestrian flow. Seoul’s real-time city data showed about 14,000 to 16,000 people were in Gwanghwamun Square at noon, more than twice the 6,000 expected by the Korea Football Association.

Police deployed about 260 officers from three mobile units to manage the crowd. Officers and staff repeatedly asked fans to fold parasols while moving and to continue walking in one direction. No major safety incidents were reported.

The match turned tense in the second half. Czechia took the lead in the 59th minute when Ladislav Krejci scored with a header. The mood at the square briefly fell silent.

South Korea quickly answered. Hwang In-beom equalized in the 67th minute and later helped create the winning goal by substitute Oh Hyeon-gyu in the 80th minute.

As Oh’s goal went in, fans hugged friends, jumped in place and shouted in relief. Many stayed in the square after the final whistle, still caught up in the emotion of South Korea’s first opening-match win at a World Cup since 2010.

Kim Ji-min, 23, a university student, said she had been nervous before the match.

“I was very worried before the game, but I am so happy we came back and won,” Kim said.

Shim Sung-min, 42, an office worker, said the match felt cinematic.

“I heard this was South Korea’s first opening-match win in 16 years,” Shim said. “Today’s match felt like a movie. I think I can enjoy the rest of the weekend.”

South Korea’s win gave the team three points to begin Group A and lifted hopes among fans watching from Seoul that the national team can advance from the group stage.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260612010004331

Seoul stocks rose by more than 4 percent Friday, as investors snapped up tech heavyweights amid hopes the war between the United States and Iran could end soon.

The benchmark Korea Composite Stock Price Index (KOSPI) closed up 359.67 points, or 4.63 percent, at 8,123.62 after rising as high as 8,434.40.

After opening sharply higher on renewed hopes that the war between the U.S. and Iran is near its end, the index trimmed earlier gains on profit taking ahead of the closing bell.

Trade volume was heavy at 490.3 million shares worth 51.1 trillion won (US$33.6 billion). Winners outnumbered losers 753 to 144.

On Thursday (U.S. time), U.S. President Donald Trump said he has reached a “great settlement” that would resolve the monthslong conflict with Iran and the deal would be signed as early as over the weekend, possibly in Europe.

Media outlet Axios also reported that four U.S. Air Force C-17 planes departed for Europe on Thursday, moving equipment for possible travel by Vice President J.D. Vance, raising the possibility a signing ceremony could take place in Geneva, Switzerland.

“Market sentiment improved as foreign investors shifted to net buying after a 25-session selling streak, on anticipations for peace negotiations,” said Lee Kyoung-min, an analyst from Daishin Securities.

But the rise was limited, amid reports that global banks are curbing hedge funds’ leveraged bets on the country’s two semiconductor heavyweights: Samsung Electronics and SK hynix, Lee added.

Foreigners and institutional investors net purchased a combined 4.4 trillion won. Retail investors net sold 4.3 trillion won.

In Seoul, shares closed higher across the board.

Market top-cap Samsung Electronics rose 7.86 percent, to 322,500 won, while its chipmaking rival SK hynix moved up 2.33 percent to 2,150,000 won.

Semiconductor equipment maker Hanmi Semiconductor vaulted 24.05 percent to 361,000 won, after the company said in a regulatory filling it is seeking to invest in SpaceX, Elon Musk’s space company set to make its Nasdaq debut on Friday (local time).

Shipmakers also gathered ground as investors went bargain hunting. Hanwha Ocean added 7.85 percent to 112,700 won and HD Hyundai Heavy Industries increased 0.62 percent to 650,000 won.

Portal operator Naver jumped 10.27 percent, to 247,000 won, financial firm KB Financial climbed 6.4 percent to 161,200 won, and top car maker Hyundai Motor added 1.68 percent to 607,000 won.

The Korean won was quoted at 1,519.8 won against the U.S. dollar as of 3:30 p.m., up 9.1 won from the previous session’s close.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 9.6 basis points to 3.808 percent, and the return on the benchmark five-year government bonds declined 10.9 basis points to 3.971 percent.

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Seoul Mayor Oh Se-hoon has vowed to prioritize elevating Seoul into a “global top three city” during his new term following his victory in the June 3 local elections.

Oh made the pledge in an interview with Yonhap News Agency on Tuesday after winning last week’s local election against ruling Democratic Party rival Chong Won-o, his third consecutive and fifth non-consecutive election as Seoul mayor.

“A global top three city is not merely a slogan to raise the ranking but a goal to increase quality of life,” Oh said at his office. “(I) will concentrate the new city government’s capabilities to create a warmer and healthier Seoul.”

Seoul ranked sixth in the Japan-based Mori Memorial Foundation’s Global Power City Index 2025. London topped the list followed by Tokyo, New York, Paris and Singapore.

The index evaluates cities based on six major indicators — economy, research and development, cultural interaction, livability, environment and accessibility.

Oh said he plans to establish a committee to achieve the “global top three city” goal, noting that it will serve to set the direction of the city government for the next four years.

“If (we) continuously work on areas that the city can be good at and can handle, Seoul can rise to a global top three city rivaling London, New York, Tokyo, Paris and Singapore,” he said.

Meanwhile, Oh said he has no plans set up for the presidency, even after his victory cemented his place as a political heavyweight with his party suffering a rout in last week’s elections, winning only four out of 16 key mayoral and gubernatorial seats up for grabs.

“There is no plan for the presidency,” he said, pledging to focus on elevating the city’s status. “(I) don’t think politics works out just by making plans.”

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South Korean stocks plummeted more than 4 percent Wednesday amid escalating tensions between the United States and Iran and a tech slump fueled by concerns over the valuation of stocks related to artificial intelligence (AI). The local currency was trading lower against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 366.11 points, or 4.52 percent, to close at 7,730.82, almost eclipsing most of the over 8 percent surge from the previous day.

At one point, the index fell as low as 7,541.11.

Due to the sharp fall, the Korea Exchange had activated a sell-side sidecar for the index at 1:16 p.m., halting program trading for five minutes.

Trade volume was moderate at 457.5 million shares worth 39 trillion won (US$25.6 billion), with losers outnumbering winners 547 to 343.

Foreigners continued their sell-off for the 23rd consecutive session, dumping a net 2.77 trillion won, while retail investors and institutions purchased local shares worth 4.86 trillion won. Institutions sold 2.27 trillion won.

Market analysts said the KOSPI lost ground as tensions resurfaced in the Middle East after the U.S. struck Iran in response to the shooting down of an American Apache helicopter in the Strait of Hormuz and then Tehran hit back.

The risk-on appetite was also sapped by an overnight tech slide on Wall Street caused by concerns over the valuation of the AI stocks on news that Crusoe Energy Systems, a data center developer, suspended one of its projects upon the request of an unidentified big tech customer.

The tech-heavy Nasdaq composite closed 0.97 percent lower, and the S&P 500 dropped 0.26 percent, while the Dow Jones Industrial Average rose 0.17 percent.

Major tech shares led the market decline, with Broadcom losing 1.12 percent, Apple sliding 3.64 percent, Micron falling 1.4 percent and Nvidia down 0.2 percent.

Investors’ eyes are now on the upcoming release of the U.S. Consumer Price Index (CPI), which could give further clues on the U.S. Federal Reserve’s monetary policy amid bets on a hawkish pivot and the initial public offering of SpaceX later this week.

“The South Korean stock market was weighed down as risk aversion sentiment strengthened ahead of the U.S. CPI and Oracle’s earnings release, once triggering a sell-side sidecar,” Lee Kyoung-min, an analyst at Daishin Securities, said.

Lee said a hot inflation report could further contract the market sentiment, raising concerns over a possible U.S. rate hike.

In Seoul, market top-cap Samsung Electronics slid 6.06 percent to 302,500 won, while its chipmaking rival SK hynix plunged 7.54 percent to 2.05 million won.

AI investment firm SK Square shed 6.78 percent to 1.18 million won, and Samsung Electro-Mechanics shot down 8.38 percent to 1.8 million won.

Samsung Life Insurance dipped 6.36 percent to 368,000 won, and Samsung C&T plummeted 5.01 percent to 407,500 won.

Auto shares were also weak, with Hyundai Motor down 5.79 percent to 602,000 won, and its sister Kia losing 2.8 percent to 159,700 won. Hyundai Mobis dropped 4.2 percent to 570,000 won.

Internet portal operator Naver, which had recently rallied on news on its partnership with Nvidia, nosedived 11.67 percent to 227,000 won. Home appliances maker LG Electronics shot down 9.68 percent to 224,000 won.

Major shipbuilder HD Hyundai Heavy was among the few gainers, jumping 4.74 percent to 641,000 won.

Defense giant Hanwha Aerospace also climbed 1.48 percent to 1.03 million won.

The Korean won was quoted at 1,524.2 won against the U.S. dollar at 3:30 p.m., down 12.1 won from the previous session.

Bond prices, which move inversely to yields, closed mixed. The yield on three-year Treasurys added 2.5 basis points to 3.881 percent, and the return on the benchmark five-year government bonds dropped 3.2 basis points to 4.070 percent.

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June 5 (Asia Today) — Protesters who had blocked a polling station in Seoul’s Songpa district for two nights and three days moved Friday to a vote-counting center, demanding a new election after ballot shortages disrupted voting in the June 3 local elections.

The ballot boxes from the No. 2 polling station in Jamsil 7-dong were transferred and counted after about 1,000 police officers were deployed. But protesters said they could not accept the result and effectively occupied the entrance area of the counting center, calling for a revote.

About 300 people, including citizens and conservative YouTubers, gathered near the entrance of the Olympic Park handball arena, according to an unofficial police estimate.

Even after the counting was completed, protesters chanted slogans including “revote” and “invalidate the vote.” Some protesters have alleged election fraud, but election authorities have attributed the disruption to a shortage of ballot papers during voting.

The atmosphere grew tense as access for election workers and arena employees was effectively blocked. Some arena employees who tried to leave were reportedly stopped by protesters and remained inside.

Police continued to guard the area around the arena after the vote count ended. Officials at the scene were considering sending election commission workers home first and removing vote-counting materials separately.

The protest followed a broader ballot shortage controversy in South Korea’s local elections. The National Election Commission said ballot shortages occurred at 50 polling stations nationwide and temporarily halted voting at 22 sites. The disruption drew public criticism and led the commission’s chairman, Roh Tae-ak, to announce his resignation Friday.

Earlier, protesters blocked the removal of ballot boxes from Jamsil 7-dong’s No. 2 polling station after a ballot shortage left voters waiting for hours. Police later escorted officials to retrieve the remaining ballot boxes, and the final count ended Friday afternoon.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260605010001909

Police on Friday secured remaining ballot boxes at a polling station in southern Seoul, two days after protesters gathered to prevent election officials from removing them in protest of a shortage of ballots during the June 3 local elections.

Police officials broke through a crowd of protesters to remove the two ballot boxes at the polling station in Jamsil, Songpa Ward, after deploying around 1,000 officers to the scene earlier in the day to break up the rally.

The boxes, said to contain around 2,000 ballots, were transported to a ballot counting center at nearby Olympic Park.

Authorities said multiple people suffered minor injuries at the polling station and the vote counting center, where protesters also gathered to demand election officials to stop the count.

The polling station was one of over a dozen locations in Seoul that experienced ballot shortages Wednesday, prompting the temporary suspension of voting at the affected stations.

Angry protesters gathered at the Jamsil polling station, accusing the election watchdog of having committed election fraud and blocking election officials from removing the ballot boxes.

The standoff had prevented the National Election Commission from completing vote counting and officially declaring election winners in the affected areas.

A group of protesters attempted to block the police from entering the polling station, resulting in physical clashes as officers dragged them out. Some protesters claimed the police used excessive force.

Fire authorities said they had treated six people for minor injuries at the polling station and the vote counting center since Thursday night.

Three of them, including a woman in her 40s who complained of a headache, were sent to the hospital.

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June 4 (Asia Today) — The biggest upset of Wednesday’s local elections came in Seoul, where People Power Party candidate Oh Se-hoon overcame early expectations of defeat and won a dramatic late comeback victory in the mayoral race.

Oh’s win allowed the conservative bloc to hold South Korea’s capital despite a strong nationwide showing by the Democratic Party. The result immediately raised Oh’s standing as a potential conservative contender in the next presidential race.

Oh narrowly defeated Democratic Party candidate Jung Won-oh after an extremely close vote count that continued into early Thursday morning, becoming the first person to win a fifth term as Seoul mayor.

“Citizens have once again upheld the democratic principle of checks and balances,” Oh said at a press conference Thursday. “They have left Seoul as the last safeguard of democracy so that South Korea does not tilt completely to one side.”

Political observers said Oh’s victory significantly changes his political status. Holding the capital while the People Power Party struggled nationwide could become a major asset for a future presidential bid.

Oh’s campaign strategy also drew attention because he kept some distance from the party leadership under Jang Dong-hyeok and focused on his own record as incumbent mayor. Analysts said that approach may allow Oh to emerge as an independent center of gravity in any future conservative realignment.

A People Power Party official said Oh had now fully risen as a national political figure representing the conservative camp.

“This Seoul victory is virtually close to a ticket toward the presidency,” the official said.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260605010001627

June 4 (Asia Today) — South Korea’s National Election Commission has failed to clearly explain an unprecedented ballot paper shortage in the June 3 local elections, leaving two Seoul ballot boxes uncounted and delaying the formal confirmation of the Seoul mayoral winner.

The commission said Thursday it would establish a fact-finding committee to investigate the ballot paper shortage that occurred during voting. The committee will be composed mainly of outside experts and will examine the cause of the problem, identify responsibility and recommend measures to prevent a recurrence, the commission said.

The controversy has continued because the commission has not provided a detailed explanation of how the shortage occurred or how many voters were affected.

More than a day after voting ended, the Seoul mayoral race had still not been formally completed. People Power Party candidate Oh Se-hoon’s victory was effectively confirmed around 9:30 a.m. Thursday, but the vote count remained stalled at 99% for hours because two ballot boxes from Jamsil 7-dong’s second polling station in Songpa district had not been moved to the counting center amid protests by residents.

Under Article 191 of the Public Official Election Act, the winner of a local government chief election is the candidate who receives the largest number of valid votes. The law does not clearly state how to handle a case in which vote counting has not been completed because ballot boxes remain uncounted.

The Seoul Election Commission said no decision had been made on formal confirmation of the winner. Winners in other Seoul races, except for the Seoul mayoral race and Songpa district, had already been confirmed.

Critics said the commission’s poor management and lack of clear public explanation deepened public distrust and prolonged the standoff at the polling station.

The National Election Commission held an emergency public apology briefing at 9 p.m. Wednesday. At the briefing, it said voter turnout at some polling stations had exceeded expectations, leading to the shortage of ballot papers. But it did not provide detailed figures on the affected polling stations, the number of additional ballots delivered, delays in voting or the number of voters affected.

The commission repeated that it would disclose more information after confirming the facts.

Calls are also growing for National Election Commission Chairman Noh Tae-ak to take responsibility. Noh did not appear at the public apology briefing. Huh Chul-hoon, secretary-general of the commission, said he was the proper official to apologize because the chairman is a non-standing member and the secretary-general oversees election administration.

The commission was also found to have prepared ballot papers for the affected Songpa polling stations equal to only 50% of registered voters, reportedly because it had taken early voting turnout into account.

Some legal experts said the case exposes structural problems in the election commission, which has long been treated as an institution with limited democratic oversight.

Ji Sung-woo, a professor at Sungkyunkwan University Law School, said the facts should be confirmed first but added that the election commission faces weak oversight.

“The biggest problem with the National Election Commission is that it is the only institution with weak parliamentary control,” Ji said. “Because lawmakers are themselves candidates, parliamentary control is structurally weak.”

“No institution should be free from oversight,” he said. “Control by other institutions, such as the Board of Audit and Inspection or civic groups, needs to be strengthened.”

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260604010001582

June 3 (Asia Today) — The People Power Party protested Wednesday after voting was temporarily halted at some polling stations in Seoul’s Songpa Ward because of ballot shortages, calling the incident “a serious violation of voters’ political rights.”

Chung Hee-yong, the party’s secretary-general, held an emergency news conference and criticized the National Election Commission over the incident.

“This is a shocking incident that should not and must not happen at a polling site in South Korea in 2026,” Chung said. “It goes beyond simple lack of election preparation and reflects a deplorable failure to fulfill the duty of election management.”

Chung called for “strong and immediate action” by the election commission.

“First, swift measures must be taken so that citizens who could not vote because of ballot shortages can exercise their voting rights,” he said.

Song Eon-seog, the party’s floor leader, also issued an emergency statement.

“We are receiving absurd reports that citizens in Seoul cannot vote because ballots are unavailable,” Song said. “Seoul citizens, you must not give up voting under any circumstances. Even if it is difficult, please wait calmly and make sure to vote.”

Song said the situation infringed on citizens’ right to participate in elections.

“We strongly urge the National Election Commission to guarantee voting rights so that citizens who waited can vote even after 6 p.m.,” he said. “Transfer the ballots quickly.”

Song also said the party had received reports that voting was taking place at several polling stations nationwide without People Power Party observers present.

“Is this the 19th century? Does this make any sense?” he said. “As soon as the election ends, we will immediately push for a fact-finding investigation into this incident and make sure those responsible are held accountable.”

Bae Hyun-jin, chairwoman of the People Power Party’s Seoul chapter, also held an emergency news conference.

“A shortage of ballots in an election is not a simple mistake. It proves that the basic election management system, the foundation of democracy, has completely collapsed,” Bae said.

She criticized the election commission for saying the shortages resulted from a sudden increase in voter turnout.

“The commission responded as if it were nothing serious,” Bae said. “We will continue to demand measures to prevent a recurrence and disciplinary action against those responsible for the election management failure that violated the sovereign act of Seoul citizens.”

The People Power Party said it had identified eight polling stations affected by ballot shortages: Munjeong 2-dong No. 2, Jamsil 2-dong No. 6, Jamsil 7-dong No. 2, Jamsil 4-dong No. 5, Garak 2-dong Nos. 3 and 7, Cheongdam-dong No. 4 and Guui 3-dong No. 6 in Gwangjin Ward.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260603010001076

South Korean stocks rebounded to a fresh all-time high Friday, driven by strong gains in stocks related to artificial intelligence (AI) and renewed optimism about a potential ceasefire in the Middle East. The local currency fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 290.86 points, or 3.55 percent, to close at 8,476.15, after hitting a new intraday high of 8,615.09.

Trade volume was heavy at 701.5 million shares worth 73.7 trillion won (US$48.9 billion), with losers outnumbering winners 686 to 205.

Foreign and individual investors unloaded local shares worth a net 1.04 trillion won and 1.4 trillion won, respectively, while institutions scooped up a net 2.37 trillion won.

The index restarted its record-breaking run after losing 0.53 percent the previous day. The KOSPI had risen for four consecutive sessions starting May 21, breaching the 8,000-point level for the first time Tuesday.

Overnight news reports that the United States and Iran had reached an agreement to extend the current ceasefire for 60 days and resume talks on Tehran’s nuclear program pushed up the index.

AI shares were boosted by the latest reports that Nvidia Corp. founder Jensen Huang plans to visit South Korea next week.

“Backed by gains in major stocks, the KOSPI rallied on news of Jensen Huang’s planned visit,” said Lee Kyung-min, an analyst at Daishin Securities. “Stocks related to Huang’s Korean visit closed in positive territory.”

Market bellwether Samsung Electronics jumped 5.84 percent to 317,000 won, and its chipmaking rival SK hynix advanced 1.92 percent to 2.33 million won.

LG Electronics shot up 29.93 percent to 293,000 won, and internet giant Naver surged 14.15 percent to 234,000 won. The two companies were reportedly on the top of Jensen Huang’s Korean schedule.

Top carmaker Hyundai Motor rose 6.79 percent to 723,000 won, and its auto parts affiliate Hyundai Mobis moved up 11.95 percent to 768,000 won.

Leading battery maker LG Energy Solution advanced 3.62 percent to 458,000 won, and pharmaceutical giant Celltrion gained 1.53 percent to 192,900 won.

However, major bank share Hana Financial Group retreated 0.17 percent to 115,100 won, and food giant Nongshim was down 0.77 percent to 385,000 won.

The Korean won was quoted at 1,507.9 won against the U.S. dollar at 3:30 p.m., down 5.1 won from the previous session.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 3.5 basis points to 3.731 percent, while the return on the benchmark five-year government bonds dropped 6.8 basis points to 3.924 percent.

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Preparations for a summit between U.S. President Donald Trump and North Korean leader Kim Jong-un appear almost nonexistent on the occasion of Trump’s ongoing visit to China, but the possibility cannot be ruled out, a senior South Korean government said Thursday.

“At this stage, the possibility of a U.S.-North Korea summit cannot be ruled out. However, our understanding is that almost no preparations have been made. We shall have to wait and see,” the foreign ministry official said on the chances of a meeting between Trump and Kim.

Trump traveled to Beijing on Wednesday for a three-day visit, marking his first trip to China since November 2017. He and Xi last met in person in Busan, South Korea, in late October on the margins of the Asia-Pacific Economic Cooperation summit.

The U.S. president has repeatedly expressed his desire to reengage with Kim despite concerns about Pyongyang’s advancing nuclear and missile programs.

Trump held three in-person meetings with Kim during his first term — the first in Singapore in February 2018, the second in Hanoi in February 2019 and the last one at the inter-Korean truce village of Panmunjom in June that year.

The Seoul official noted there can “always be unpredictable developments” regarding summit meetings involving Trump. “Since the visit has already begun, we will have to watch closely.”

Regarding the U.S.-China summit, the official said South Korea has received relatively detailed explanations of the meeting from both Washington and Beijing.

The ministry official also said Seoul and Washington have been in consultations over security issues behind the scenes, including South Korea’s bid to acquire nuclear-powered submarines, and uranium enrichment and reprocessing capabilities, despite delays in formal meetings due to scheduling issues on both sides.

“There will be significant progress before the U.S. midterm elections,” the official said.

Regarding the resumed “shuttle diplomacy” between the leaders of South Korea and Japan, the official suggested another summit could take place in the near future.

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South Korean stocks shot up nearly 6.5 percent Wednesday, extending a record-breaking run to top the 7,300-point mark, driven by a semiconductor rally and optimism for a potential peace deal in the Middle East. The local currency also strengthened against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 447.57 points, or 6.45 percent, to a fresh record high of 7,384.56.

It marked the second-largest daily gain in terms of points following 490.36 points reached on March 5.

Trade volume was heavy at 984.4 million shares worth 58.2 trillion won (US$40 billion), with losers outnumbering winners 199 to 677.

Foreigners bought 3.1 trillion won worth of local shares, while institutions and individuals dumped a net 2.3 trillion won and 571.2 billion won, respectively.

Overnight, U.S. President Donald Trump said he would pause operations to escort ships through the Strait of Hormuz as part of efforts to reach a final agreement with Iran.

The KOSPI opened 2.25 percent higher to surpass the landmark 7,000-point threshold for the first time and extended the gains throughout the session.

The main index has been on a bullish run in recent months, surpassing the 5,000-point mark in late January and topping another milestone of 6,000 points in February.

After recouping its losses in March following the outbreak of the U.S.-Iran war in late February, the KOSPI breached the 7,000-point level on continued optimism over the artificial intelligence (AI) boom and hopes for the reopening of the key waterway.

“Global tech giants’ strong performances and the strengthened value chain for AI data centers boosted the AI-related shares,” Lee Kyung-min, an analyst at Daishin Securities, said. “In particular, the market’s top-three shares of Samsung Electronics, SK hynix and SK Square led the rally.”

Top-cap Samsung Electronics surged 14.41 percent to close at 266,000 won, pushing its market capitalization above 1.5 quadrillion won and becoming the second Asian company to surpass the $1 trillion milestone after Taiwan Semiconductor Manufacturing Co.

SK hynix soared 10.64 percent to 1.6 million won, and AI investment firm SK Square jumped 9.89 percent to 1.1 million won.

Hanmi Semiconductor, a chip manufacturing company, rose 4.37 percent to 394,500 won, and LG Electronics vaulted 8.17 percent to 154,900 won.

However, shipbuilding and defense shares dropped. Major shipyard HD Hyundai Heavy Industries fell 4.71 percent to 648,000 won, and defense giant Hanwha Aerospace lost 2.18 percent to 1.4 million won.

Leading biotech firm Samsung Biologics declined 0.34 percent to 1.48 million won, and top mobile carrier SK Telecom backtracked 1.95 percent to 95,500 won.

The Korean won was quoted at 1,455.1 won against the U.S. dollar at 3:30 p.m., up 7.7 won from the previous session.

The quotation marks the highest since February 27, when the currency closed at 1,439.7 to the greenback.

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May 4 (Asia Today) — Seoul accounted for more than 80% of first-priority apartment subscription applications in South Korea in March, according to an analysis by real estate platform Zigbang.

Zigbang said Monday that 109,928 first-priority applications were filed nationwide for apartment complexes announced for sale in March. Of those, 90,322, or 82%, were submitted for apartments in Seoul.

The figures were calculated based on the month of the sales announcement. Zigbang said applications were counted according to the date of the initial resident recruitment notice, even when the actual application period extended into the following month.

The increase was sharp compared with earlier months. Complexes announced in January received 10,549 applications and those in February drew 27,313. The number surged past 100,000 in March.

The number of apartment complexes offered also rose from eight in January and 11 in February to 27 in March. The average competition rate climbed from 4.2-to-1 in January to 7.1-to-1 in February and 12.9-to-1 in March.

Analysts said pent-up demand concentrated in March as major Seoul complexes entered the market after limited supply early in the year.

In Seoul, the average competition rate for complexes announced in March reached 156.3-to-1, sharply higher than in January and February. Every complex posted double-digit competition, driven in part by limited general sale units in redevelopment and reconstruction projects.

Major complexes included Acro de Seocho in Seocho District, which recorded a 1,099-to-1 competition rate, Hauterre Banpo in Seocho District at 710-to-1 and Ichon LE-EL in Yongsan District at 135-to-1.

“The recent subscription market continues to show high competition centered on Seoul, but it is difficult to interpret this simply as a divide between the capital region and provincial areas,” a Zigbang official said. “Consumers are clearly moving selectively based on price competitiveness and location rather than region alone.”

The official added that complexes with a strong balance of location, product quality and sale price can continue to attract real demand regardless of region.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260504010000342

South Korean stocks shot up by more than 5 percent to close at a fresh high Monday, approaching the 7,000-point mark, as investors scooped up semiconductor shares while awaiting developments in U.S.-Iran peace talks. The Korean won rose sharply against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 338.12 points, or 5.12 percent, to a fresh record high of 6,936.99.

Trade volume was heavy at 864.3 million shares worth 41.3 trillion won (US$28.2 billion), with losers outnumbering winners 473 to 392.

Foreigners bought 3 trillion won worth of local shares, and institutions purchased a net 1.9 trillion won, while retail investors dumped a net 4.8 trillion won.

The index opened 2.79 percent higher after U.S. President Donald Trump announced a plan to guide ships not involved in the Iran conflict through the Strait of Hormuz as a “humanitarian gesture” starting this week.

Later, a senior Iranian official warned that Tehran would consider any U.S. interference in the strait a ceasefire breach.

However, the KOSPI extended its gains in the afternoon, supported by foreign and institutional buying.

“Tech shares were driven by gains on Wall Street over the weekend,” Lee Kyung-min, an analyst at Daishin Securities, said. “Also, foreign investors expanded their net purchase ahead of the market closure for Children’s Day on Tuesday.”

The main index surpassed the 5,000-point mark in late January and topped another milestone of the 6,000-point level in February.

After recouping its losses in March following the outbreak of the U.S.-Iran war in late February, the KOSPI is now approaching the uncharted 7,000-point level on continued optimism over the AI boom and hopes for the reopening of the key waterway.

Semiconductor stocks led the rally.

Chip giant Samsung Electronics jumped 5.44 percent to 232,500 won, and its chipmaking rival SK hynix surged 12.52 percent to a fresh record high of 1.4 million won, surpassing 10 trillion won in market capitalization for the first time.

Hanmi Semiconductor, a chip equipment manufacturer, rose 2.72 percent to 378,000 won, and Samsung Electro-Mechanics, an electronic components affiliate of Samsung Electronics Co., soared 10.34 percent to 918,000 won.

Defense shares were also strong as industry leader Hanwha Aerospace advanced 3.39 percent to 1.4 million won and LIG D&A gained 4.46 percent to 983,000 won.

Top carmaker Hyundai Motor climbed 1.51 percent to 539,000 won, and leading battery maker LG Energy Solution increased 2.5 percent to 472,000 won.

However, bio shares went south as Celltrion fell 1.35 percent to 197,800 won, and Samsung Biologics dropped 2.58 percent to 1.4 million won.

The Korean won was quoted at 1,462.8 won against the U.S. dollar at 3:30 p.m., up 20.5 won from the previous session.

The quotation marks the highest since February 27, when the currency closed at 1,439.7 to the greenback.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys added 2 basis points to 3.615 percent, while the return on the benchmark five-year government bonds gained 1.7 basis points to 3.797 percent.

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The stars of “The Devil Wears Prada 2” thrilled us with their bold fashion choices at the film’s world premiere in New York City on Monday night, the most recent stop in a press tour that began at the end of March. Meryl Streep, Anne Hathaway and Emily Blunt brought their A game, embracing method dressing without going overboard. Even Miranda Priestly would be proud.

While the film dons Prada’s name, Schiaparelli was among the go-to designers for the promo tour. From custom numbers to archival pieces, cast members, new and old, impressed in gowns that deserved center spreads in Runway. And there were no florals in sight.

Anne Hathaway attends “The Devil Wears Prada 2” world premiere in New York.

(Evan Agostini / Invision / AP)

During the film’s New York City premiere, Hathaway wore a devilish satin red gown. Designed by Nicolas Ghesquière for Louis Vuitton, Hathaway’s tea-length dress was paired with dazzling jewels from Bulgari.

Lady Gaga attends “The Devil Wears Prada 2” world premiere at Lincoln Center’s David Geffen Hall in New York.

(Evan Agostini / Invision / AP)

Styled by sisters Chloe and Chenelle Delgadillo, Lady Gaga donned a black Saint Laurent gown from the fashion house’s fall 2016 collection. But Gaga really turned heads with her sparkling 7-carat earrings designed by Tiffany & Co.

Gaga has a cameo in the film, which director David Frankel told Vanity Fair was the “the worst-kept secret in showbiz.” The entertainer also wrote and recorded “Runway” with rapper Doechii for the sequel’s soundtrack.

Meryl Streep attends “The Devil Wears Prada 2” premiere on Monday.

(Evan Agostini / Invision / AP)

Streep paired her statement sunglasses with a Givenchy by Sarah Burton caped dress at the film’s New York City premiere. The sweeping red dress included elegant black gloves that matched her Stuart Weitzman heels.

Emily Blunt attends “The Devil Wears Prada 2” world premiere in New York.

(Evan Agostini / Invision / AP)

Emily Blunt wore a dress from the Schiaparelli spring 2026 line. The dress’ structured bodice gave way into tulle skirt, with the fabric’s warm tone contrasting Blunt’s dark red lip. The bustier was covered in 25,000 silk thread feathers, which required roughly 4,000 hours of work.

Simone Ashley attends “The Devil Wears Prada 2” world premiere at David Geffen Hall in New York.

(Evan Agostini / Invision / AP)

“Bridgerton” star Simone Ashley made her “Devil Wears Prada” debut in a vintage high-low Prada dress. Styled by Rebecca Corbin-Murray, she paired the chartreuse dress with marching diamonds. Ashley plays Amari Mari, Miranda’s first assistant in the film.

Meryl Streep promotes “The Devil Wears Prada 2” in Seoul.

(Ahn Young-joon / AP)

Streep wore a custom Prada power suit and David Yurman jewels while promoting the film in Seoul.

Anne Hathaway on the red carpet to promote “The Devil Wears Prada 2” in Seoul.

(Ahn Young-joon / AP)

During the film’s premiere in Seoul, Hathaway donned a red leather Balenciaga number. Dressed by stylist Erin Walsh, the oversize jacket contrasted with her pencil skirt, and the look was tied together with Hathaway’s sleek ponytail.

Meryl Streep attends the “The Devil Wears Prada 2” premiere at Anahuacalli Museum in Mexico City.

(Angel Delgado / Getty Images for Disney)

During the press tour’s kickoff in Mexico City, Streep — styled by Micaela Erlanger — donned a long, belted navy blue Schiaparelli dress.

Anne Hathaway promotes “The Devil Wears Prada 2” on “The Late Show With Stephen Colbert.”

(Scott Kowalchyk / CBS)

For an appearance on “The Late Show With Stephen Colbert,” Hathaway wore vintage Versace.

Top naval commanders of South Korea, the United States and Japan gathered in Seoul on Wednesday to hold a series of talks aimed at strengthening their trilateral maritime security cooperation, the South’s Navy said.

The gathering brought together Chief of Naval Operations Adm. Kim Kyung-ryul, U.S. Pacific Fleet Commander Adm. Stephen Koehler and Adm. Akira Saito, chief of staff of the Japan Maritime Self-Defense Force, for bilateral talks and a trilateral dinner meeting, according to the armed service.

The meetings came amid heightened tensions in the Middle East, raising speculation over whether their talks would address the ongoing U.S. blockade of Iranian ports.

U.S. President Donald Trump earlier called on South Korea, Japan and others to send warships to the Strait of Hormuz to help secure shipping lanes.

In the bilateral talks between Kim and Koehler held earlier in the day, both sides exchanged opinions on the robust South Korea-U.S. combined defense posture as well as cooperation in the area of naval maintenance, repair and operations, the Navy said.

Kim and Saito, meanwhile, held in-depth discussions on expanding personnel exchange and resuming joint maritime search and rescue exercises (SAREX) as discussed in a ministerial meeting between their defense chiefs earlier this year, it added.

In January, Defense Minister Ahn Gyu-back and his Japanese counterpart, Shinjiro Koizumi, met in Japan and agreed to resume joint SAREX drills for the first time in nine years as part of efforts to strengthen bilateral defense cooperation.

The top admirals of the three countries were set to attend a dinner meeting later Wednesday to likely discuss trilateral coordination measures to respond to and deter North Korea‘s advancing nuclear and missile threats.

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