Iran says US agreed to unfreeze $6 billion as White House denies claim

Iran said the United States had agreed to release $6 billion in frozen assets held abroad, but the White House quickly denied the claim, underscoring deep mistrust as high-stakes talks opened in Islamabad. According to Iranian officials cited by Reuters, the funds are held in accounts in Qatar and other foreign banks. One source said the......

LG releases open-weight AI model outperforming GPT-5 mini

LG AI Research introduced EXAONE 4.5 on Thursday, a vision-language model blending a proprietary vision encoder with a large language model to handle text and images together. The South Korean firm's research unit claimed superior average scores over OpenAI's GPT-5 mini and Anthropic's Claude Sonnet 4.5 across 13 metrics on AI......

Hyundai recalls over 294,000 vehicles in the United States over seat belt defect

South Korean automaker Hyundai Motor Company has announced a large-scale recall affecting more than 294,000 vehicles in the United States due to a potential safety defect involving seat belt anchors. According to the National Highway Traffic Safety Administration (NHTSA), the issue may cause the seat belt anchor to detach during use. This......

Corporate climate targets surge 40 percent as SBTi surpasses 10,000 companies

The Science Based Targets initiative reported a 40 percent increase in the number of companies with validated climate targets in 2025, countering claims that corporate climate ambition is weakening. According to newly released data, more than 2,800 companies received validation during the year, bringing the total to over 10,000 firms with......

Middle East war splits energy markets into winners and losers

A six-week conflict involving the United States, Israel, and Iran has triggered Asia's worst energy crisis in decades, with surging fuel prices, severe LPG shortages, and widespread economic fallout. A fragile two-week ceasefire announced April 7 offers only tentative relief. Wood Mackenzie's April 6 analysis shows Asia's spot......

Tesla sets South Korea record as first import brand to surpass 10,000 monthly sales

Tesla registered 11,134 vehicles in South Korea in March, a 330% increase compared to the same month last year, according to data from market research firm Carisyou cited by Reuters. The result makes Tesla the first imported automotive brand ever to exceed 10,000 monthly sales in the country, a milestone confirmed by the Korea Automobile Importers......

Asian markets rise on ceasefire hopes amid US Iran tensions

Asian stocks and emerging market currencies edged higher on Monday as reports of a possible temporary ceasefire between the United States and Iran lifted investor sentiment, despite an approaching deadline set by US President Donald Trump for Tehran to reopen the Strait of Hormuz. Trading volumes remained thin due to public holidays across......

South Korea risks Hormuz oil runs as Asia's energy crisis deepens into sixth week

Six weeks into the war between the United States, Israel, and Iran with no ceasefire in sight, Asia, the destination for roughly 90 percent of the oil and 83 percent of the liquefied natural gas that normally transits the Strait of Hormuz, is bearing the heaviest economic toll of a conflict it did not start. Iran effectively closed the strait......

Oil prices ease on ceasefire talks as global energy crisis deepens

The war in Iran has triggered a cascading energy crisis from Southeast Asia to Europe, with governments imposing fuel rationing, grounding aircraft, and shutting institutions as the closure of the Strait of Hormuz chokes off roughly one fifth of the world's oil and gas supply. Goldman Sachs has described the situation as the "worst......

Gulf states near depletion of air defense interceptors as Iran's missile campaign grinds on

Five weeks into Iran's sustained drone and missile campaign against Gulf states, the arithmetic of air defense is turning against the defenders. Gulf countries have exhausted the vast majority of their pre-war interceptor stocks repelling thousands of incoming projectiles, and resupply is falling well short of the pace required, according......

Tesla sales surge in South Korea amid intensifying EV competition

Sales of electric vehicles from Tesla have recorded a sharp increase in South Korea, reflecting growing demand and heightened competition in the country’s EV market. According to market data, Tesla’s vehicle registrations surged significantly in March compared to the same period last year. The increase is largely attributed to......

South Korea points to Kim Jong Un’s daughter as potential successor

South Korea’s intelligence authorities have indicated that the daughter of North Korean leader Kim Jong Un may be emerging as a likely successor, according to lawmakers briefed on recent findings. Members of parliament reported that the assessment by the National Intelligence Service (NIS) is based on what officials described as “credible......

Asian markets rebound as Iran signals Hormuz transit framework with Oman

South Korean stocks surged on Friday after Iran indicated it was working with Oman to develop a framework for overseeing maritime transit through the Strait of Hormuz, offering a measure of hope for a partial reopening of the strategic waterway after more than a month of near-total closure. The Kospi closed up 2.74 percent at 5,377.30 points,......

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