News

First Cabinet meeting: Lee discusses state matters with Yoon's Cabinet members

2025/06/05 20:00

Thank you for joining us. I'm Yoon Jung-min. On his second day in office, President Lee Jae-myung held a Cabinet meeting. His orders included ways to better deal with wildfires as well as moving the oceans ministry to Busan as soon as possible. Kim Do-yeon has more. It was the first Cabinet meeting for President Lee Jae-myung on Thursday and it lasted well over the scheduled time for four hours. And, "awkwardness" ensued for those hours as President Lee discussed state matters with the Cabinet who were appointed by impeached former president Yoon Suk Yeol. This is a rare occasion as President Lee doesn't get a transition period and assumed the role first before shaping his own Cabinet. The President and the Cabinet ended up having gimbap for lunch at the meeting as it ran until his next meeting at 2 PM. After listening he ordered a number of things to the Cabinet. One was reviewing whether to add additional helicopters for wildfire response. Another was preparing to move the Ministry of Oceans and Fisheries to the port city of Busan as fast as possible. Meanwhile, the top office also says that most of the top office employees from the previous administration who had left came back to their posts. "Most of the former Presidential Office staff have returned to work, and the foundations to gradually resume operations are being laid. Presidential Chief of Staff Kang Hoon-sik is scheduled to communicate with the staff regarding work-related matters during a staff meeting at the Presidential Office on Sunday, the 8th." President Lee also held a meeting for public safety at the National Security Council's conference room. He emphasized the importance of public safety, wearing the yellow emergency response jacket for the first time as the President and meeting with local government officials on accident prevention. Meanwhile, the top office also said that the President has canceled two Constitutional Court Justice nominations made by former prime minister Han Duck-soo, claiming it was out of his authority. One was Lee Wan-kyu who also served as the Minister of Government Legislation under President Yoon and the other was Hahm Sang-hoon. Kim Do-yeon, Arirang News.

[Weather] Summer heat continues, high UV rays during the day

2025/06/05 20:00

Temperatures stayed above 25 degrees Celsius in most parts of the country during the day. In the Gyeongsang-do provinces, Gumi and Gimcheon, it was around 30 degrees Celsius. As such, the gap between daily highs and lows widens to around 20 degrees. A light jacket is necessary when you go out in the evening. You should prepare for the heat in advance. On Friday, Memorial Day, the daytime temperature in Seoul will move up to 28 degrees, and the summer heat will come around. The ultraviolet index will soar to a very high level across the country. In addition, ozone concentrations will increase in some areas including the Seoul metropolitan area. Tomorrow morning, Seoul and Busan will start off at 18 degrees, Daegu at 16 degrees. Highs will move up to 28 degrees in Seoul and Gwangju, 29 degrees in Chuncheon and Daejeon. Frequent rain is forecast for Jeju Island for next few days. That's all for Korea. Here are the weather conditions around the world.

Trump imposes travel bans on 12 countries, restricts foreign student visas for Harvard

2025/06/05 20:00

U.S. President Trump has announced a new travel ban affecting 12 countries, including Iran. Meantime, he signed an order restricting foreign student visas for Harvard following campus protests against the Gaza war. Byeon Ye-young has this report. President Trump announced on Wednesday that citizens of 12 countries would be banned from visiting the United States. Trump ties the new ban to Sunday's terror attack in Boulder, Colorado. "The recent terror attack in Boulder, Colorado, has underscored the extreme dangers posed to our country by the entry of foreign nationals who are not properly vetted, as well as those who come here as temporary visitors and overstay their visas. We don't want them." The new ban omits North Korea but applies to twelve other countries. Additional restrictions will be imposed on visitors from seven countries. AP News described the move as the "resurrection" of a policy from Trump's first term in 2017 that barred entry from several Muslim-majority countries. That original ban, later repealed by the Biden administration in 2021, affected nationals from Iraq, Syria, Iran, Sudan, Libya, Somalia and Yemen, as well as North Korea and some Venezuelan officials. The announcement follows a January executive order requiring U.S. agencies to assess which countries pose a national security risk or demonstrate "hostile attitudes" toward the U.S., laying the groundwork for renewed travel restrictions. Also on Wednesday, Trump signed a proclamation restricting foreign student visas for Harvard University. The proclamation blocks entry into the U.S. of any new Harvard students holding student visas and instructs the Secretary of State to review and potentially revoke those already issued. Trump declared in an executive order that it would jeopardize national security to allow Harvard to continue hosting foreign students on its campus. This marks the latest escalation in the administration's standoff with Harvard, which has resisted calls for sweeping reforms it says would undermine institutional autonomy. The administration has already slashed research funding and directed federal agencies to sever ties with the school. Byeon Ye-young, Arirang News.

S. Korea investigates NLL crossing by four North Koreans

2025/06/05 20:00

The South Korean government has today confirmed the rescue of four North Koreans who last week drifted across the maritime border in the East Sea. Military officials say the group, who are currently in custody, crossed the Northern Limit Line last week in a wooden boat, reportedly claiming they wish to return to the North. Regarding the incident, Seoul's Ministry of Unification said a further investigation is currently ongoing. The ministry added that if the group wishes to return, it will arrange their swift repatriation on humanitarian grounds. A similar case unfolded in March in the West Sea, when two North Koreans also crossed the NLL. They asked to be sent back, but despite repeated outreach, Pyongyang has yet to respond.

North Korea reports on South’s new president with no commentary

2025/06/05 20:00

North Korea reported Lee Jae-myung's election victory here in the South a day after he was officially declared president, with no commentary. Our North Korean affairs correspondent Kim Jung-sil has this reports. A day after President Lee Jae-myung was sworn into office, North Korea reported on the election. North Korea's official newspaper, the Rodong Sinmun, briefly reported the South's presidential election result on Thursday, saying that the vote took place on June 3rd, two months after Yoon's impeachment, which it called the 'December 3rd Martial Law Incident.' There was no commentary, no criticism. But analysts say what Pyongyang didn't say might be just as telling. "Despite declaring the South an enemy state and cutting all ties, North Korea reported the election result just a day after. This quick response may be a subtle sign that Pyongyang is closely watching developments in the South, even as it maintains its posture of disengagement." In the past, North Korea took more time to respond, waiting three days after the 2017 election and two days in 2022. On those occasions as well, Pyongyang offered only short, factual summaries with no analysis. This time, a senior official at South Korea's Unification Ministry pointed to a subtle shift in language. Instead of using "South Chosun", a term often associated with shared Korean identity, Pyongyang referred to the South as "South Korea." Experts say the change could reflect Pyongyang's strategy of maintaining distance from the South, a pattern seen in recent years. Whether it signals an opening or just a more deliberate kind of silence remains to be seen. Kim Jung-sil, Arirang News.

Czech Republic and S. Korea sign deal to build nuclear power reactors

2025/06/05 20:00

Following twists and turns, Korea has signed a nuclear project deal with the Czech Republic, after a Czech court lifted an injunction requested by a rival French firm. It's the first major nuclear plant deal to be signed in 16 years. Ahn Sung-jin has the details. The nuclear plant deal between the Czech Republic and South Korea has finally been sealed. Representatives from the Dukovany II Power Plant and the Korea Hydro and Nuclear Power on Wednesday signed final contracts to build two new nuclear power reactors in the Czech Republic. Czech Prime Minister Petra Fiala said on the same day, "all doubts and legal obstacles that prevented the nuclear power plant project from being launched" had been removed. The signing of the deal came only hours after the Czech high court lifted an injunction barring the deal from closing. The two parties were originally to sign the contract on May 7th, until the losing bidder EDF of France had filed for and won an injunction, delaying the project's timeline. However, Dukovany and KHNP appealed the ruling, and the court declared that the injunction was "unverifiable." The 18-point-six billion U.S. dollar deal will result in the expansion of the Dukovany nuclear site with the construction of two 1-thousand megawatt units, with the first to be completed by 2036. This deal is the first such project for KHNP in Europe and the company's first overseas project since a deal made with the UAE in 2009. According to pundits, the deal proves South Korea's technical skills and economic feasibility for nuclear plants, while they also say it could be a turning point for Seoul's nuclear plant expansion into the European market. Ahn Sung-jin, Arirang News.

S. Korea’s economy shrinks 0.2% in Q1 2025

2025/06/05 20:00

The local economy shrunk in the first quarter of this year, due to weak domestic demand and increasing uncertainties over Trump tariffs. Officials, though, expect a turnaround in the economy in the second quarter. Moon Ji-young has the details. South Korea's economy contracted in the first quarter of 2025 compared to the previous quarter, amid domestic and international economic uncertainties. Preliminary data from the Bank of Korea released Thursday showed that the country's gross domestic product from January to March shrank by point-two percent on quarter, unchanged from an estimate in April. It marked a decline in GDP following two consecutive quarters of positive growth. The Bank of Korea explained that weak domestic demand was a primary factor in the downturn. Looking closer, of the total decline, domestic demand contributed negative point-five percentage points, while net exports boosted the growth rate by point-two percentage points. Imports were down 1-point-1 percent, with crude oil and natural gas among items contributing to the drop. Exports declined by point-6 percent due to lower shipments of chemicals, chemicals, machinery, and equipment. Facility investment dropped by point-4 percent, marking its weakest performance since the first quarter of 2024. While construction investment declined by 3-point-1 percent, private spending also saw a decline of point-1 percent, driven by weakening demand for services. According to an official from the Bank of Korea, domestic demand is likely to improve in the second quarter. "The impact of U.S. tariff policies is beginning to show in sectors like automobiles and steel, and with these policies expected to expand further, exports may be negatively affected. However, overall, there are signs of improvement in domestic demand indicators." He also said that while construction, food service, and accommodation remained sluggish, there were improvements in the consumption of durable and non-durable goods, production in the wholesale and retail sectors, and facility investment compared to the first quarter. Meanwhile, the country's gross national income per capita advanced 1-point-5 percent in 2024 compared to the previous year exceeding the earlier estimate of 1-point-2 percent made in March. Moon Jiyoung, Arirang News.

Inside President Lee Jae-myung's plan to prioritize S. Korea's economy

2025/06/05 20:00

The start of a new government means it has a lot on its plate. At the top of its agenda is the economy, with a focus on trade and boosting consumption at home. For more on this, our economics correspondent Lee Soo-jin is here. Soo-jin, to start off, how has the economy responded to the new administration? Just two days after the election, the new Lee administration is already moving to revive the economy. The stock market is also showing signs of stabilizing, with the benchmark KOSPI, during intraday trading on Thursday, climbing into the 2-thousand-8-hundred-twenty range for the first time in 10 months. The rise was largely driven by foreign investors, with Lee's presidential election win ending a leadership vacuum. Lee has also vowed to prioritize the economy, signing his first executive order to launch the Emergency Economic Evaluation Task Force, which also held its inaugural meeting on the same day. And the two key agendas that the government and the task force are expected to tackle are boosting domestic demand and navigating high-stakes negotiations with the Trump administration. While it's still unclear who will take on the dual role of finance minister and deputy prime minister to lead the economic task force, both seasoned bureaucrats and political figures are being floated. One such figure being mentioned is Koo Yoon-cheol, a veteran economic bureaucrat who previously served as a Budget Director and Vice Minister at the Finance Ministry. And a politician that is also reportedly being considered is veteran lawmaker Kim Tae-nyeon, a five-term politician and former floor leader of the DP who currently serves on the National Assembly's Strategy and Finance Committee. 2. How is the new government and the task force aiming to boost domestic demand? One major way the newly established task force is expected to boost domestic demand is to pass a large-scale second supplementary government budget. And it's expected to amount to at least 30 trillion won, or around 22 billion U.S. dollars. The ruling DP is reportedly aiming to finalize the budget plan this month with hopes of passing it in the National Assembly, which it has a majority in, as early as next month. The Finance Ministry said it held a meeting with officials from each government ministry on Thursday morning, focused on the upcoming second supplementary budget as a follow-up to Lee's emergency economic task force meeting the night before. And a key part of the second supplementary budget is expected to be government-issued local vouchers. "During downturns like this, when small businesses are struggling, local vouchers may not be a long-term fix but can still provide a boost for at least six months." 3. What's the plan for tariff talks with the U.S.? So when Lee formally took office on Wednesday, as South Korea's 21st president, he also took over the responsibility for ongoing tariff negotiations with the Trump administration. South Korea has been in high-stakes negotiations, aiming to remove or reduce tariffs imposed by the Trump administration. On April 24th, Korea and the U.S. held high-level trade talks where the two countries agreed to reach a comprehensive agreement dubbed the "July Package" by July 8th, the day that the 90-day pause on Trump's "reciprocal" tariff rates on foreign nations is set to expire. At the task force's first meeting Wednesday night, Trade Minister Cheong In-kyo briefed the President on recent U.S. demands, which include easing non-tariff barriers such as lowering import restrictions on American beef over 30 months old. But there are key areas that the government may be able to leverage in future negotiations without Korea having to lower non-tariff barriers. Let's take a listen. "Moving forward, if Korea-U.S. expand cooperation in shipbuilding and other technology and industrial sectors, it could serve as channel to broaden discussion into other areas leading to favorable negotiations. Additional options such as increasing imports of U.S. energy, investment in the U.S., and joining the Alaska's LNG project could serve as potential cards in the discussions." But as I mentioned earlier, the biggest question is who President Lee will appoint to the dual role of finance minister and deputy prime minister, as he or she will be a key figure to lead the task force and steer the country's economic recovery. All right, we will be watching closely to see who assumes the role. Thank you for your report today. Thank you for having me.

Ruling DP pushes through contentious probe bills as it regains power after 3 years

2025/06/05 20:00

Meantime, the Democratic Party passed contentious special investigation bills this afternoon at a plenary session, including a special probe bill into insurrection charges. amid a boycott by the People Power Party. Our political correspondent Shin Ha-young reports. Back in power after three years, the ruling Democratic Party of Korea, which holds a majority in the 22nd National Assembly, is now speeding up efforts to pass contentious bills previously vetoed by the former administration. The ruling party on Thursday unilaterally passed a special investigation bill into the death of a marine during flood rescue operations in 2023, which had been passed by the Assembly three times, but then vetoed by the Yoon Suk Yeol administration. Of the 198 votes cast, 194 lawmakers voted in favor, while 3 abstained amid a boycott by the People Power Party. The same day, the Assembly also passed a bill calling for a special investigation into former President Yoon's declaration of martial law last December and the related insurrection charges. A similar special probe bill had been previously passed twice, but was also vetoed. "A quick and thorough investigation under a special counsel is needed to hold those responsible accountable, and prevent another coup attempt like the one on December 3rd. The public strongly supports the passage of the special counsel bill." A bill calling for a special counsel probe into former First Lady Kim Keon Hee, over allegations of election fraud involving political broker Myung Tae-kyun, was also passed during Thursday's plenary session. The Assembly also approved a separate bill that gives the justice minister, alongside the prosecutor general, the authority to directly request disciplinary action against prosecutors. Of the 202 votes cast, 185 lawmakers voted in favor, while 18 voted against it. Most lawmakers from the PPP boycotted the vote, criticizing the DP for pushing the bills through unilaterally without bipartisan support. "Today's bills don't reflect President Lee Jae-myung's first promise of unity. It's disappointing that the focus isn't on helping people's lives. This bill is just a revenge move. Punishing those who investigated President Lee by holding hearings to shame them and trying to impeach them is like attacking the justice system." Meanwhile, ahead of Thursday's vote, Assembly Speaker Woo Won-shik said that as the Lee administration begins, respecting and cooperating with the parliament is essential for national unity and a successful government, urging the new government to keep this in mind. Shin Ha-young, Arirang News.

S. Korea’s new economic playbook: Stimulus, strategy, and global stakes

2025/06/05 20:00

Welcome to Within The Frame, where we bring the most pressing issues across the globe into focus. I'm Kim Mok-yeon. The inauguration of President Lee Jae-myung marks a sharp pivot in Korea's economic direction. With the economy stalled by weak consumption, global uncertainty, and looming tariff deadlines with the Trump administration, Lee has made household recovery his top priority, launching an emergency task force and fast-tracking a 35 trillion won stimulus to revive local demand. But this isn't just stopgap spending. His strategy signals a long-term shift to government-led growth, with heavy investment in semiconductors, 반도체, AI, green energy, and defense—paired with sweeping labor reforms. All this, as the clock ticks toward a July 8th deadline to renegotiate U.S. tariffs. The next few months will test whether urgency, ambition, and execution can align. For more on this, we connect to Song Soo-young, Professor of Business and Economics at Chung-Ang University. Welcome. Also joining us is Chai Sangmi, Professor of Business Administration at Ewha Womans University. Good to see you. (SONG) 1. Let's start with the stimulus, Prof. Song. Is this 35 trillion won supplementary budget enough—and well-targeted—for immediate recovery? (CHAI) 2. Assuming the spending moves quickly, Prof. Chai, what are the fiscal or inflationary risks policymakers should be watching? (SONG) 3. President Lee's vision shifts away from the previous administration's market-driven growth to state-led investment. Prof. Song, is that pivot viable in Korea's current economic structure? (CHAI) 4. Under Lee's policies, public money is to be funneled into strategic sectors like semiconductors and AI. Can this narrow targeting really drive broad-based growth, Prof. Chai? (SONG) 5. The administration is pairing investment with labor-friendly reforms—stronger unions, shorter hours, and extended retirement. Prof. Song, will this help enhance or hinder productivity? (CHAI) 6. Some say the government is prioritizing equity over efficiency. Prof. Chai, what are your thoughts? How do we weigh fairness against competitiveness in a low-growth era? (SONG) 7. One of the most anticipated tasks left for the Lee administration is tariff negotiations with the Trump administration. Prof. Song, at this point, how much leverage does Korea actually have in this compressed timeline? (CHAI) 8. Staying with trade, balancing U.S. trade demands with domestic politics—especially over beef, GMOs, and data exports—seems precarious. What could be a smart middle ground, Prof. Chai? (CHAI) 9. Professor, let's also touch upon President Lee's 335 vision: 3% growth, AI leadership, G5 entry—how realistic is this? And what factors will make or break it? (SONG) 10. Finally, we're expecting a Cabinet shift with the new government. Prof. Song, what would you prioritize if you were advising the new economic team?

First Cabinet meeting: Lee discusses state matters with Yoon's Cabinet members

2025/06/05 17:00

Welcome to The Daily Report, for this Thursday, June 5th. President Lee Jae-myung didn't get the luxury of forming his own Cabinet before his term started and has to continue working with those who were appointed by his predecessor. Despite this, he says, there's no time to waste. Our Kim Do-yeon starts us off. It was the first Cabinet meeting for President Lee Jae-myung on Thursday and it lasted well over the scheduled time for four hours. And, "awkwardness" ensued for those hours as President Lee discussed state matters with the Cabinet who were appointed by impeached former president Yoon Suk Yeol. This is a rare occasion as President Lee doesn't get a transition period and assumed the role first before shaping his own Cabinet. The President and the Cabinet ended up having gimbap for lunch at the meeting as it ran until his next meeting at 2 PM. According to the top office, the President, after listening to the most pressing issues, gave his opinion and orders to the ministers. In addition, the President also focused on analyzing the recent large-scale wildfires, as well as preparedness measures and possible solutions for the future. Meanwhile, the top office also says that most of the top office employees from the previous administration who had left came back to their posts. "Most of the former Presidential Office staff have returned to work, and the foundations to gradually resume operations are being laid. Presidential Chief of Staff Kang Hoon-sik is scheduled to communicate with the staff regarding work-related matters during a staff meeting at the Presidential Office on Sunday, the 8th." President Lee also held a meeting for public safety at the National Security Council's conference room. He emphasized the importance of public 안전, wearing the yellow emergency response jacket for the first time as the President and meeting with local government officials on accident prevention. Meanwhile, the top office also said that the President has canceled two Constitutional Court Justice nominations made by former prime minister Han Duck-soo, claiming it was out of his authority. One was Lee Wan-kyu who also served as the Minister of Government Legislation under President Yoon and the other was Hahm Sang-hoon. Kim Do-yeon, Arirang News.

[Weather] Summer-like weather with huge temperature swings

2025/06/05 17:00

It was above 25 degrees Celsius in most areas in the middle of the day. The Gyeongsang-do provinces, Gumi and Gimcheon were as hot as 30 degrees Celsius. As such, the gap between daily highs and lows widens to around 20 degrees. Please bring a light coat when you go out in the evening. You need to prepare well for the heat from now on. On Friday, Memorial Day, the daytime temperature in Seoul will rise up to 28 degrees, and the summer heat will come around. The ultraviolet index will soar to a very high level across the country. In addition, ozone concentrations will increase in some areas including the Seoul metropolitan area. Tomorrow morning, Seoul and Busan will start off at 18 degrees, Chuncheon at 14 degrees. Highs will move up to 28 degrees in Seoul and Gwangju, 30 degrees in Daegu and Gyeongju. It is expected that there will be frequent rain in Jeju Island. That's all for Korea. Here are the weather conditions around the world.

World News: U.S. vetoes UN Security Council resolution calling for Gaza ceasefire

2025/06/05 17:00

This is the World Now, bringing you the latest stories from around the globe. The United States has vetoed a United Nations Security Council draft resolution that called for an immediate "unconditional and permanent" ceasefire in Gaza. On Wednesday, the U.S. exercised its veto power to block a UN Security Council resolution that demanded an immediate ceasefire in Gaza and the unrestricted delivery of humanitarian aid to the region. All 14 other security council members supported the draft resolution. Acting U.S. Ambassador to the UN, Dorothy Shea, defended the veto, stating that the resolution failed to condemn Hamas for its October 7, 2023, attack on Israel, did not call for the group's disarmament, nor its withdrawal from Gaza. She said, "We would not support any measure that fails to condemn Hamas and does not call for Hamas to disarm and leave Gaza." The U.S. also vetoed the last Security Council resolution on Gaza in November. Russia said on Wednesday that its Crimean Bridge remains fully operational with no damage. This comes after Ukraine detonated explosives on the strategically significant bridge. In the early hours of Tuesday, Ukraine's Security Service said it conducted a coordinated underwater attack on the Crimean Bridge, deploying explosives equivalent to 1,100 kilograms of TNT. The SBU released footage showing a blast beneath the bridge, claiming severe damage. Kremlin spokesperson Dmitry Peskov acknowledged the explosion, but stated, "Nothing was damaged. The bridge is working," dismissing Ukraine's claims of structural harm. This was Ukraine's third attack on the bridge since Russia's full-scale war began in 2022. The bridge is considered a significant military supply route for Russian forces in Crimea. Bulgaria will become the 21st nation to adopt the euro at the start of next year, after receiving approval from the European Central Bank and the European Commission on Wednesday. The decision follows Bulgaria's fulfillment of all convergence criteria, including inflation control, fiscal stability, and exchange rate alignment. Bulgaria's prime minister hailed the approval as a milestone, emphasizing its potential to bolster foreign investment and deepen Bulgaria's integration into the European Union. However, pro-Russian groups protested, expressing concerns over national sovereignty and potential worsening poverty and inflation. Finally, Nintendo's highly anticipated Switch 2 gaming console is poised to exceed initial sales forecasts as it prepares for its global release on June 5. The company projects sales of 15 million units by March 2026, but analysts suggest the number will exceed that. Pre-orders have sold out rapidly worldwide, with Japan alone receiving over 2.2 million applications. Despite the 449.99 U.S. dollar price point, consumers are enthusiastic about the Switch 2's enhanced features, including a larger LCD screen and improved processing power. Choi Chi-hee, Arirang News.

Donald Trump, Vladimir Putin hold phone talks

2025/06/05 17:00

U.S. President Donald Trump also says he held phone talks with Russian President Vladimir Putin on Wednesday. However, Trump says the discussions would not lead to immediate peace in Ukraine. Lee Seung-jae has more. U.S. President Donald Trump took to Truth Social on Wednesday, saying he held phone talks with Russian President Vladimir Putin. According to Trump, the two leaders discussed Ukraine's recent drone attacks against a Russian airfield, with Putin saying he was obligated to respond to the weekend attacks. The U.S. president noted that the 75-minute-long conversation with his Russian counterpart would not immediately lead to an end to the war in Ukraine. The phone talks between the two come as Trump said last week that he would be able to see within two weeks, whether Putin was serious about agreeing to a ceasefire deal. Meanwhile, a chance at a peace deal between Russia and Ukraine seems to be getting bleaker as Putin accused Ukraine of terrorism and "disrupting" peace talks. During a televised government meeting on Monday, Putin shot down Ukraine's call for an unconditional ceasefire, saying that Kyiv's leadership has "resorted to terrorist attacks" to intimidate Russia. Putin said that he cannot negotiate with those "who rely on terror" or with "terrorists," adding that a break from military action would only allow Ukraine to gather more Western weapons and "prepare other terrorist attacks." His remarks came in response to a series of explosions that allegedly caused bridge collapses in Russia over the weekend, including one that derailed a passenger train, killing seven people. Despite this, Ukrainian President Volodymyr Zelenskyy on Wednesday proposed an unconditional ceasefire with Russia, until a summit with Putin is held. He also proposed possible venues for the meeting, including Istanbul, Switzerland and the Vatican. Lee Seung-jae, Arirang News.

Trump imposes travel bans on 12 countries, restricts foreign student visas for Harvard

2025/06/05 17:00

Over in the U.S. President Trump has announced a sweeping new travel ban affecting 12 countries, and signed an order restricting foreign students at Harvard, citing national security concerns. Byeon Ye-young has this report. President Trump announced on Wednesday that citizens of 12 countries would be banned from visiting the United States. Trump ties the new ban to Sunday's terror attack in Boulder, Colorado. "The recent terror attack in Boulder, Colorado, has underscored the extreme dangers posed to our country by the entry of foreign nationals who are not properly vetted, as well as those who come here as temporary visitors and overstay their visas. We don't want them." The new ban omits North Korea but applies to twelve other countries. Additional restrictions will be imposed on visitors from seven countries. AP News described the move as the "resurrection" of a policy from Trump's first term in 2017 that barred entry from several Muslim-majority countries. That original ban, later repealed by the Biden administration in 2021, affected nationals from Iraq, Syria, Iran, Sudan, Libya, Somalia and Yemen, as well as North Korea and some Venezuelan officials. The announcement follows a January executive order requiring U.S. agencies to assess which countries pose a national security risk or demonstrate "hostile attitudes" toward the U.S., laying the groundwork for renewed travel restrictions. Also on Wednesday, Trump signed a proclamation restricting foreign student visas for Harvard University. The proclamation blocks entry into the U.S. of any new Harvard students holding student visas and instructs the Secretary of State to review and potentially revoke those already issued. Trump declared in an executive order that it would jeopardize national security to allow Harvard to continue hosting foreign students on its campus. This marks the latest escalation in the administration's standoff with Harvard, which has resisted calls for sweeping reforms it says would undermine institutional autonomy. The administration has already slashed research funding and directed federal agencies to sever ties with the school. Byeon Ye-young, Arirang News.

Inside President Lee Jae-myung's plan to prioritize S. Korea's economy

2025/06/05 17:00

The new Lee administration has hit the ground running, prioritizing the economy with trade and boosting domestic consumption at the top of its agenda. Our correspondent Lee Soo-jin reports. Just two days after the election, the new Lee administration is already moving to revive the economy. The stock market is also showing signs of stabilizing, with the benchmark KOSPI, during intraday trading on Thursday, climbing into the 2-thousand-8-hundred-twenty range for the first time in 10 months. The rise was largely driven by foreign investors, with Lee's presidential election win ending a leadership vacuum. Lee has also vowed to prioritize the economy, signing his first executive order to launch the Emergency Economic Evaluation Task Force, which also held its inaugural meeting on the same day. And the two key agendas that the government and the task force are expected to tackle are boosting domestic demand and navigating high-stakes negotiations with the Trump administration. One major way the newly established task force is expected to boost domestic demand is to pass a large-scale second supplementary government budget, expected to amount to at least 30 trillion won, or around 22 billion U.S. dollars. The ruling DP is reportedly aiming to finalize the budget plan this month with hopes of passing it in the National Assembly, which it has a majority in, as early as next month. A key part of the second supplementary budget is expected to be government-issued local vouchers. "During downturns like this, when small businesses are struggling, local vouchers may not be a long-term fix but can still provide a boost for at least six months." South Korea is also locked in high-stakes talks to roll back tariffs imposed under the Trump administration. At the task force's first meeting Wednesday night, Trade Minister Cheong In-kyo briefed the President on recent U.S. demands, which include easing non-tariff barriers such as lowering import restrictions on American beef over 30 months old. But there are key areas that the government may be able to leverage in future negotiations without Korea having to lower non-tariff barriers. "Moving forward, if Korea-U.S. expand cooperation in shipbuilding and other technology and industrial sectors, it could serve as channel to broaden discussion into other areas, leading to favorable negotiations." While it is yet unclear who Lee will appoint to take on the dual role of finance and deputy prime minister and lead the task force, whoever takes the post will be central to Korea's economic recovery. Lee Soo-jin, Arirang News.

KOSPI breaks 2,800 for first time in 10 months

2025/06/05 17:00

South Korea's benchmark KOSPI has climbed above the 2-thousand-800 mark on Thursday for the first time since July last year. At the market's close at 3:30 PM, the KOSPI ended just above 2-thousand-812, about 1-point-5 percent higher than Wednesday's close. Notably, foreign investors are continuing to buy Korean stocks, accelerating the index's growth. Since early April's year-low, the market has entered a technical bull phase by rising over 20 percent. Strong upward momentum was experienced due to the easing of both domestic and global uncertainties, and expectations surrounding the new administration's economic policies.

Czech Republic and S. Korea sign deal to build nuclear power reactors

2025/06/05 17:00

South Korea has signed a nuclear plant project with the Czech Republic, which had been put on hold after a rival bidder had filed an injunction. This multi-billion-dollar deal will be the first for Seoul in 16 years. Ahn Sung-jin has the details. The nuclear plant deal between the Czech Republic and South Korea has finally been sealed. Representatives from the Dukovany II Power Plant and the Korea Hydro and Nuclear Power on Wednesday signed final contracts to build two new nuclear power reactors in the Czech Republic. Czech Prime Minister Petra Fiala said on the same day, "all doubts and legal obstacles that prevented the nuclear power plant project from being launched" had been removed. The signing of the deal came only hours after the Czech high court lifted an injunction barring the deal from closing. The two parties were originally to sign the contract on May 7th, until the losing bidder EDF of France had filed for and won an injunction, delaying the project's timeline. However, Dukovany and KHNP appealed the ruling, and the court declared that the injunction was "unverifiable." The 18-point-six billion U.S. dollar deal will result in the expansion of the Dukovany nuclear site with the construction of two 1-thousand megawatt units, with the first to be completed by 2036. This deal is the first such project for KHNP in Europe and the company's first overseas project since a deal made with the UAE in 2009. According to pundits, the deal proves South Korea's technical skills and economic feasibility for nuclear plants, while they also say it could be a turning point for Seoul's nuclear plant expansion into the European market. Ahn Sung-jin, Arirang News.

North Korea reports on South’s new president with no commentary

2025/06/05 17:00

Meanwhile in North Korea, the regime has acknowledged South Korea's presidential election, reporting Lee Jae-myung's victory just a day after he was officially declared president. Our North Korean affairs correspondent Kim Jung-sil reports. A day after President Lee Jae-myung was sworn into office, North Korea reported on the election. North Korea's official newspaper, the Rodong Sinmun, briefly reported the South's presidential election result on Thursday, saying that the vote took place on June 3rd, two months after Yoon's impeachment, which it called the 'December 3rd Martial Law Incident.' There was no commentary, no criticism. But analysts say what Pyongyang didn't say might be just as telling. "Despite declaring the South an enemy state and cutting all ties, North Korea reported the election result just a day after. This quick response may be a subtle sign that Pyongyang is closely watching developments in the South, even as it maintains its posture of disengagement." In the past, North Korea took more time to respond, waiting three days after the 2017 election and two days in 2022. On those occasions as well, Pyongyang offered only short, factual summaries with no analysis. This time, a senior official at South Korea's Unification Ministry pointed to a subtle shift in language. Instead of using "South Chosun", a term often associated with shared Korean identity, Pyongyang referred to the South as "South Korea." Experts say the change could reflect Pyongyang's strategy of maintaining distance from the South, a pattern seen in recent years. Whether it signals an opening or just a more deliberate kind of silence remains to be seen. Kim Jung-sil, Arirang News.

Ruling DP pushes through contentious probe bills as it regains power after 3 years

2025/06/05 17:00

Now the ruling party, the Democratic Party passed contentious special investigation bills this afternoon during a plenary session of the National Assembly amid a boycott by the People Power Party. Our political correspondent Shin Ha-young reports. Back in power after three years, the ruling Democratic Party of Korea, which holds a majority in the 22nd National Assembly, is now speeding up efforts to pass contentious bills previously vetoed by the former administration. The ruling party on Thursday unilaterally passed a special investigation bill into the death of a marine during flood rescue operations in 2023, which had been passed by the Assembly three times, but then vetoed by the Yoon Suk Yeol administration. Of the 198 votes cast, 194 lawmakers voted in favor, while 3 abstained amid a boycott by the People Power Party. The same day, the Assembly also passed a bill calling for a special investigation into former President Yoon's declaration of martial law last December and the related insurrection charges. A similar special probe bill had been previously passed twice, but was also vetoed. "A quick and thorough investigation under a special counsel is needed to hold those responsible accountable, and prevent another coup attempt like the one on December 3rd. The public strongly supports the passage of the special counsel bill." A bill calling for a special counsel probe into former First Lady Kim Keon Hee, over allegations of election fraud involving political broker Myung Tae-kyun, was also passed during Thursday's plenary session. The Assembly also approved a separate bill that gives the justice minister, alongside the prosecutor general, the authority to directly request disciplinary action against prosecutors. Of the 202 votes cast, 185 lawmakers voted in favor, while 18 voted against it. Most lawmakers from the PPP boycotted the vote, criticizing the DP for pushing the bills through unilaterally without bipartisan support. "Today's bills don't reflect President Lee Jae-myung's first promise of unity. It's disappointing that the focus isn't on helping people's lives. This bill is just a revenge move. Punishing those who investigated President Lee by holding hearings to shame them and trying to impeach them is like attacking the justice system." Meanwhile, ahead of Thursday's vote, Assembly Speaker Woo Won-shik said that as the Lee administration begins, respecting and cooperating with the parliament is essential for national unity and a successful government, urging the new government to keep this in mind. Shin Ha-young, Arirang News.