Ukrainian President Volodymyr Zelensky has put North Korea in a propaganda bind, analysts say, by publicly revealing that Kyiv recently transferred two North Korean prisoners of war to South Korea.
The disclosure – made during Zelensky’s address to the UN General Assembly on Wednesday – directly challenges Pyongyang’s narrative that its soldiers fighting alongside Russian forces choose death over surrendering.
North Korea is unlikely to acknowledge the transfer publicly, but may strengthen…
UK government greenlights new family bereavement and pregnancy loss rights
The government has confirmed it will extend ‘day one’ employee bereavement and pregnancy loss rights from next April.
Singapore’s finance firms pledge to train 80,000 local staff in AI skills
Singapore’s major financial institutions have pledged to train more than 80,000 local employees in AI skills as the country moves to cushion white-collar workers from potential job disruption.
A pioneer batch of 23 banks, insurers and asset managers has committed to train all their Singapore staff by 2028, and more than half of them have already gone through programmes recognised by an industry association, according to Deputy Prime Minister Gan Kim Yong.
The firms would also study how jobs were…
Thailand SEC Proposes Streamlined Crypto Derivatives Licensing for Existing Firms
Thailand’s Securities and Exchange Commission (SEC) has proposed a sweeping reform that would allow existing licensed digital asset operators to apply directly for derivatives licenses under their current corporate structures, eliminating the need to establish separate entities for cryptocurrency derivatives activity.
The proposal builds on Cabinet approval reached in February 2026, which formally recognized cryptocurrencies including Bitcoin as eligible underlying assets for futures and options under Thailand’s Derivatives Act. The SEC opened a public consultation window to gather industry feedback on the rule changes before the consultation closes on May 20, 2026.
Under current regulations, digital asset firms must set up geographically and structurally separate corporate entities dedicated solely to derivatives trading — a requirement that has been cited by market participants as a significant barrier to product innovation and market entry. The proposal would consolidate licensing under a single regulatory umbrella, allowing licensed crypto exchanges to offer spot and derivatives products through their existing structures while maintaining strict oversight through mandatory internal controls, risk management protocols, and conflict-of-interest safeguards.
The move positions Thailand as the first jurisdiction in Southeast Asia to offer integrated crypto spot and derivatives licensing in a single framework. It comes as the country already benefits from a five-year capital gains tax exemption on cryptocurrency trading (2025-2029) and is preparing for the launch of cryptocurrency ETFs. Deputy Secretary-General Jomkwan Kongsakul has previously highlighted ease of access as a key advantage of opening Thailand’s derivatives market to digital asset participants.
Industry players are actively positioning themselves ahead of the new rules several licensed digital asset operators have recently acquired regulated trading …
South Korea’s Kospi Outpaces Nasdaq’s Dotcom-Era Gains as Japan and South Korea Deepen Energy Ties
South Korea’s stock market has delivered extraordinary returns in just the past 18 months as the Kospi index triples in value, fueled by relentless demand for semiconductors from Samsung Electronics and SK Hynix amid the ongoing global AI boom. In a separate but equally significant development, Japan and South Korea have agreed to expand bilateral energy cooperation, including plans for joint hydrogen projects and deeper LNG trade integration.
## The Kospi’s Triple Surge
According to the latest data from the Financial Times, South Korea’s benchmark Kospi index has outpaced even the dotcom-era gains of the Nasdaq, surging more than 200% over the past 18 months. The rally is primarily driven by the global semiconductor supply chain, with Samsung Electronics and SK Hynix serving as the primary beneficiaries of AI infrastructure buildout.
SK Hynix, in particular, has benefited from being one of the few qualified suppliers of high-bandwidth memory (HBM) chips used in NVIDIA’s AI accelerators. Samsung is similarly expanding production capacity to meet the insatiable demand from hyperscale data centers across Asia, the United States, and Europe.
The FT report notes that the surge has fundamentally rewritten the valuation calculus for Korean equities. For years, South Korea’s market was viewed as a cyclical commodity play driven primarily by electronics exports. Today, the Kospi sits at all-time highs, with P/E ratios for leading semiconductor names trading at premiums not seen since the late 1990s tech boom — and yet the earnings backing those valuations are substantially more robust.
“Korean semiconductors are now irreplaceable in the AI stack,” said a Seoul-based equity strategist quoted by the FT, noting that “without HBM memory, there is no path to competitive AI training systems.”
## Japan-South Korea Energy Pact
On the diplomacy front, Tokyo and Seoul have agreed to deepen energy cooperation — a notable shift given the historical frictions between the two economies. The agreement, discussed against the backdrop of the FT’s coverage of talks on Russia’s Power of Siberia 2 gas pipeline, signals a broader realignment in Northeast Asian energy strategy.
Key elements under discussion include:
– Joint development of green hydrogen production facilities
– Expanded liquefied natural gas (LNG) supply partnerships to reduce dependence on Middle Eastern imports
– Shared investment in next-generation nuclear technology
– Coordinated energy procurement strategies in the context of rising global energy prices
The timing is significant. With oil prices reaching their highest levels since the beginning of the Iran conflict — unleaded petrol in the UK has hit 158.52p per litre — energy security has become a pressing concern across the Asia-Pacific. The Japan-South Korea energy pact represents an effort to pool resources and reduce vulnerability to supply shocks.
## What It Means for Southeast Asia
For Southeast Asian investors, the Korean semiconductor surge has dual implications. On one hand, it underscores the growing centrality of Asia in the global tech economy — a trend that could benefit regional supply chain participants in Malaysia, Vietnam, and the Philippines. On the other hand, the elevated valuations raise questions about sustainability if AI capex trends soften or semiconductor demand normalizes.
The Japan-South Korea energy cooperation could also have ripple effects. A more diversified Northeast Asian energy network could stabilize regional power markets and create new trade opportunities for LNG exporters like Australia and Qatar, who are closely positioned to supply both markets.
## Bottom Line
The triple surge of the Kospi and the deepening Japan-South Korea energy alliance point to a broader reconfiguration of Asian economic power. The region is no longer just a manufacturing base; it is becoming the engine of the global AI economy and a critical node in the world’s energy future.
Sources: Financial Times, Nikkei Asia