Cowon has showed off its new P5 PMP at Story Lounge in Korea. Available in black, platinum and red, The gadget is powered by RMI Alchemy Au1250 700MHz processor and a 5-inch LCD color screen with 800 x 480 resolution. The P5 also sports DMB, an FM radio, voice recording, Bluetooth 2.0 and USB Wibro host. Its battery provides enough power for up to 9-hours of video playing or 14-hours of music playing time. Watch the video after the jump to get more details.