[Photo = Aju Business Daily]
President Lee: Judicial prosecutions, stabbing attacks and media-driven character assassination posed three mortal threats…The people saved me
President Lee Jae-myung said on May 9 that prosecutors' fabricated indictments, stabbing attacks carried out by terrorists, and media-driven character assassination amounted to three grave threats to his life. He said that, having been spared from those threats, his life now belongs fully to the people.The president posted the comment on X (formerly Twitter) while sharing an article reporting that the Anti-Corruption and Civil Rights Commission concluded there had been inappropriate intervention by former Vice Chairman and Secretary General Jeong Seung-yoon in handling the helicopter crew reporting case when Lee was leader of the Democratic Party in 2024.
KOSPI briefly tops 7,500 on semiconductor rally…US-China summit and US inflation to be turning points next week
South Korea's stock market surged on a semiconductor-led rally, with the KOSPI briefly topping the 7,500 level for the first time. After a sharp short-term run-up, however, investors face heightened risks, and with the U.S. consumer price index (CPI) release and a U.S.-China summit on the calendar, next week's trading is likely to feature sector rotation and increased volatility.According to the Korea Exchange, the KOSPI closed at 7,498.00 on the previous trading day, up 7.95 points (0.11%) from the prior session. Over the week of May 4–8, the KOSPI and KOSDAQ rose 13.90% and 1.29%, respectively.
Domestic equities extended gains this week, fueled by a global semiconductor rally. Buying concentrated on large-cap chipmakers such as Samsung Electronics and SK Hynix, driving the KOSPI above 7,500 intraday and pushing aggregate market capitalization past 6,000 trillion KRW (approximately 4.5 trillion USD). Strong results from major U.S. tech firms and expectations for expanded investment in artificial intelligence (AI) further bolstered sentiment toward Korea's semiconductor sector.
In particular, earnings reports from major U.S. hyperscalers confirmed rising AI demand, which helped propel the market. Amazon, Microsoft and Google posted results above expectations and showed notable growth in AI-related cloud revenue. That strengthened hopes for more global semiconductor investment, and domestically, stocks tied to AI infrastructure—such as semiconductors and power equipment—outperformed.
Jung Won-oh and Oh Se-hoon clash over redevelopment: Yongsan neglected vs. return to urban regeneration
Jung Won-oh, the Democratic Party's Seoul mayoral candidate, and Oh Se-hoon of the People Power Party squared off over the city's redevelopment strategy. Jung accused Oh of neglecting Yongsan development for years, while Oh's camp argued Jung's housing plans represent a return to the urban regeneration approach associated with former Mayor Park Won-soon.On May 9, Jung posted on Facebook, \"Why did Oh Se-hoon leave this land in such a state during his four terms as mayor?\" He faulted delays in Yongsan's development, saying the 2013 project collapse stemmed from a lack of a clear party responsible for finalizing the project. \"We shouldn't take Oh Se-hoon's approach. I will develop Yongsan differently,\" Jung said.
Oh's campaign criticized Jung's housing remarks. Park Yong-chan, a spokesperson for Oh's campaign, said in a statement that Jung's comments about villas raise concerns he intends to revive the urban regeneration projects pursued under former Mayor Park Won-soon.
Trump: I expect to receive Iran's letter tonight…Ceasefire talks in focus amid Strait of Hormuz tensions
President Donald Trump said he expected to receive a response from Iran soon, shifting attention to diplomatic ceasefire talks as military tensions around the Strait of Hormuz flared. The U.S. appears to be prioritizing a diplomatic end to the conflict rather than escalation.Yonhap reported that at the White House on May 8 (local time), Trump told reporters that he expected to receive Iran's response \"probably tonight\" when asked whether Tehran had answered U.S. demands. \"We'll see what happens,\" he added. Given the timing of his remarks, Iran could convey its position within hours.
The comment came shortly after clashes occurred near the Strait of Hormuz. The U.S. and Iran had maintained a ceasefire since April 7, but recent maritime blockades and attempts to break them led to limited skirmishes. Iranian state media described the exchanges as limited and indicated Tehran still favors maintaining the ceasefire.
