Crypto Compliance: South Korea’s DAXA tightens rules on API key sharing to curb crypto market manipulation, requiring exchanges to invalidate suspicious keys and deploy IP whitelisting; the move follows past breaches and comes as automated trading is estimated at about 30% of domestic turnover. Semiconductor Surge: Samsung and SK hynix keep rallying on AI memory demand, but some funds face forced selling under single-stock caps, pushing investors to seek indirect exposure. Energy Shock Watch: The Iran war is reshaping Asia’s power plans, with several economies reconsidering coal phase-outs as LNG supply risks and Strait of Hormuz disruptions bite; oil prices ease on hopes for a US-Iran ceasefire extension. Industrial Output & Housing: South Korea’s industrial output slips in April amid Mideast tensions, while Ulsan’s housing momentum supports new launches like Hyundai E&C’s Hillstate Seonam Lake Park. Biotech Funding: SK Bioscience secures 300bn won in government support to speed a late-stage pneumococcal vaccine trial toward 2027 data. Finance Health: Bank NPL ratios hit a five-year quarterly high as bad-loan balances rise and write-offs slow. Trade & Deals: India and South Korea agree under CEPA upgrade talks to address a widening bilateral trade deficit, including sub-groups on digital trade and supply chains. Security Talks: Seoul and Washington will hold formal follow-up talks next week on summit security initiatives, with nuclear-powered submarine ambitions expected on the agenda.