Yonhap News Summary

The following is the second summary of major stories moved by Yonhap News Agency on Monday.-----------------■ (LEAD) KOSPI surges to new peak of above 7,800 on chip gains despite renewed woes over U. S.-Iran peace deal SEOUL -- South Korean stocks closed at a new record high Monday, easily breaching the landmark 7,800-point level, extending the winning streak to the fifth consecutive session, on the back of a bull run by semiconductor shares, despite concerns of a potentially botched peace deal between the United States and Iran. The benchmark Korea Composite Stock Price Index (KOSPI) surged 324.24 points, or 4.32 percent, to end at a fresh high of 7,822.24 after rising as high as 7899.32. An electronic signboard at Hana Bank in central Seoul shows the Korea Composite Stock Price Index having breached the landmark 7,800-point mark on May 11, 2026. (Yonhap) https://en.yna.co.kr/view/AEN20260511007851320-----------------■ (LEAD) Cheong Wa Dae says any attack on civilian ships in Hormuz cannot be tolerated SEOUL -- The presidential office said Monday that any attacks on civilian vessels in the Strait of Hormuz cannot be tolerated, condemning the recent attack on the South Korean-operated cargo ship HMM Namu. National Security Advisor Wi Sung-lac made the remarks at a press conference, a day after the foreign ministry said two "unidentified airborne objects" struck the vessel in the conflict-hit strait, causing an explosion and fire aboard the ship last week. https://en.yna.co.kr/view/AEN20260511008351315-----------------■ HMM to repair cargo ship damaged in Strait of Hormuz SEOUL -- South Korean shipping company HMM has begun preparations to repair a cargo vessel damaged in a fire in the Strait of Hormuz, company officials said Monday, after the government concluded it was hit by airborne objects. HMM has been working on a repair plan after a government investigation team on Sunday concluded that two "unidentified airborne objects" caused an explosion and fire aboard the Panama-flagged cargo ship HMM Namu in the key waterway last week, officials said. https://en.yna.co.kr/view/AEN20260511009200320?section=k-biz/index-----------------■ S. Korea, NATO officials discuss defense industry cooperation SEOUL -- Officials of South Korea's arms procurement agency and the North Atlantic Treaty Organization (NATO) discussed Monday efforts to enhance cooperation in the defense industry, including boosting interoperability of Korean weapons systems, the agency said. The meeting took place between Kim Tae-kon, director-general for international cooperation of the Defense Acquisition Program Administration (DAPA), and Tarja Jaakkola, assistant secretary-general for NATO's defense industry, innovation and armaments, DAPA said. https://en.yna.co.kr/view/AEN20260511004600315?section=national/defense-----------------■ (LEAD) S. Korea to roll out 2nd cash aid to over 36 mln people amid Mideast crisis SEOUL -- South Korea will roll out a second batch of cash assistance for the bottom 70 percent of income earners, or about 36 million people, next week, officials said Monday, in an effort to ease financial strains caused by rising fuel prices amid the war in the Middle East. Last month, the National Assembly approved a 26.2 trillion-won (US$17.8 billion) extra budget bill to address the economic fallout from the Middle East conflict, which includes the introduction of the cash assistance plan. https://en.yna.co.kr/view/AEN20260511003351315-----------------■ (LEAD) Culture minister blocks access to illegal sites under new anti-piracy law SEOUL -- The culture minister ordered access to dozens of illegal content websites to be blocked immediately Monday as a new law designed to curb rampant online piracy of web-based comics and novels took effect. Culture, Sports and Tourism Minister Chae Hwi-young took action against 34 copyright-infringing sites, including Newtoki, a major platform known for illegally distributing Korean webtoons and web novels, the ministry said. https://en.yna.co.kr/view/AEN20260511007351315(END)