Seoul

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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