South Korea

The ‘Tank Day’ event has been described as ‘malicious mockery’ of a deadly crackdown on pro-democracy protestersThe chief executive of Starbucks in South Korea has been fired after the company ran a promotional event using slogans that evoked a massacre of pro-democracy protesters during the country’s dictatorship era, sparking outrage and boycott calls.The coffee chain launched a “Tank Day” campaign on 18 May for its “Tank” tumbler series. The date coincides with one of the most politically sensitive days in South Korea’s calendar, when citizens commemorate the 1980 democratisation movement in Gwangju, 167 miles (270km) south-west of Seoul. Continue reading...

• South Korea coach Hong Myung-bo named a 26-man squad on Saturday, with Son Heung-min set for his fourth World Cup appearance as the team’s leading star. • ESPN reported that the veteran forward will again anchor South Korea’s attack, underlining his central role in the national side’s tournament plans. • The squad announcement matters because South Korea are expected to rely heavily on experienced players as they prepare for the global showpiece.

• South Korea is preparing new measures to counter AI-powered cyberattacks after concerns raised by Anthropic’s Claude Mythos Preview, according to a May 13 cybersecurity roundup. • The reported policy response reflects rising fears that advanced AI tools could lower the barrier for phishing, malware development, and automated intrusion attempts. • The issue matters because South Korea is a highly digitized economy with major exposure across government, telecom, finance, and manufacturing networks.

• South Korea's Kospi index plummeted as much as 3.2% early on May 13 due to Samsung Electronics failing to reach a pay deal with its union, but rebounded sharply 2.6% to close at a record 7,708-7,844. • The recovery was aided by government efforts to manage the labor situation and broader AI optimism reviving market sentiment despite US inflation data and Iran tensions. • This standout performance contrasted with mixed regional moves, highlighting Korea's volatility amid corporate labor issues and tech sector strength.

• Global hedge funds ramped up investments in Asia, with weekly buying of South Korean, Japanese, and Taiwanese stocks reaching a 10-year high for the week ending May 7, according to a Morgan Stanley report. • The surge, the heaviest in over a decade in notional terms, was driven by clients across all regions and strategies targeting Asia's technology sector amid the AI boom. • Hedge funds' net exposure to Japan, South Korea, and Taiwan has risen to its highest since 2010, now at about 19% of global positioning, focusing on semiconductors and hardware in the AI supply chain.

• Japanese Prime Minister is eyeing a visit to South Korea around May 19-20, 2026, for summit talks, according to sources cited in Asia Daily on May 11. • The trip aims to strengthen Japan-South Korea relations amid regional security challenges in East Asia. • This follows recent joint military drills involving Japan, U.S., and U.K. paratroopers, signaling deeper defense cooperation.

• iShares MSCI South Korea ETF and iShares MSCI Taiwan ETF have risen 239% and 96% respectively over the past 12 months amid AI mania. • South Korea's KOSPI index hit a record 7,899.32 on Monday with a 4% surge, while Taiwan's TAIEX closed above 42,000 for the first time last week. • Goldman Sachs forecasts South Korea's GDP growth at 2.5% in 2026 with AI-related exports tripling to nearly 30% of GDP; Taiwan's GDP expected to accelerate to 10% with similar export rises.

• President Trump departs Washington on Monday for a key Asia trip, stopping in Japan and South Korea before a two-day summit with China's President Xi Jinping. • The itinerary focuses on diplomatic engagements amid heightened U.S.-China tensions and regional security concerns. • Discussions are expected to cover trade, security alliances, and bilateral relations during the high-stakes visits.