News

Recent economic Green Book points to heightened uncertainties and sluggish domestic demand as downside pressures

2025/04/11 17:00

The Finance Ministry's April assessment of the Korean economy affirms the persistent presence of risk factors including lackluster domestic consumption and U.S. import duties. Park Jun-han covers the latest findings. The finance ministry's latest economic report points to a sluggish recovery in domestic demand and growing global uncertainty from Washington's tariffs as key downside risks. This assessment comes in the ministry's Green Book, a monthly report that outlines the trends in the country's economy. According to the ministry, while the impeachment of former President Yoon Suk Yeol has reduced some internal uncertainty, external risks are growing due to the U.S. tariffs. "The 90-day moratorium has eased some of the pressure on our economy and companies, but the 10% tariff rate is still in effect. And then steel, automobiles, those are also subject to item-specific tariffs, so there is downside pressure." In the Green Book, there were some signs indicating a slowdown in domestic spending. The country's Consumer Sentiment Index dropped from February's 95.2 points to 93.4 in March. Also, preliminary GDP data shows that construction investment in the fourth quarter of 2024 fell 4.5 percent compared to the previous quarter. Year-on-year, construction investment was down 6.5 percent. The ministry vowed full support to combat economic uncertainties and downside pressures. It said it will continue to promote a strengthened economic recovery, including providing support for jobs, construction, and small businesses. At the same time, the ministry will make every effort to respond to trade risks, such as supporting Korean companies affected by the imposition of U.S. tariffs, and expediting the supplementary budget to strengthen industrial competitiveness. Park Jun-han, Arirang News

South Korea establishes diplomatic ties with Syria, longtime ally of North Korea

2025/04/11 17:00

South Korea has forged diplomatic ties with Syria. This means Seoul now has formal relations with ALL UN members states with the exception of North Korea. Our foreign affairs correspondent Bae Eun-ji has details. Syria has now become the 194th country in the world to form diplomatic relations with South Korea marking a milestone for the country, as it now has formal ties with all UN member states, except North Korea. Foreign minister Cho Tae-yul visited Syria's capital city Damascus this week,.. and signed a joint statement on Thursday local time, with his counterpart Assad al-Shaibani. "By establishing diplomatic relations with Syria -the last remaining country with which we had no diplomatic ties, South Korea has now reached a historic milestone of establishing diplomatic relations with all 191 UN member states." The two sides held a meeting, where Cho said South Korea is willing to contribute to reconstruction efforts in Syria, and discussed the possibility of Korean companies participating in rebuilding the country. He also promised Seoul will provide humanitarian assistance including medicine, medical equipment and rice. During his visit, Cho also met the country's interim president, Ahmed al-Sharaa.. and said taking a firm stance against extremism and eliminating chemical weapons, will help create an environment conducive to the country's development. South Korea started to work on forging diplomatic ties with Syria, after more than 13 years of war recently put an end to the brutal Assad dictatorship which had maintained a close relationship with North Korea for decades. The Assad family regime, which ruled the country for more than 50 years, collapsed in December during a major offensive by opposition forces. Syria has had diplomatic ties with North Korea since 1966, but the fall of the dictatorship brought about a significant shift in its relations with Pyongyang. Now that South Korea has forged ties with nations that have been close allies of the North, including Cuba last year, this latest diplomatic development is expected to further isolate Pyongyang on the global stage. Bae Eun-ji, Arirang News.

Yoon expected to leave presidential residence 1 week after impeachment upheld

2025/04/11 17:00

Impeached President Yoon Suk Yeol is moving out of the presidential residence and into his private residence today. The move comes precisely one week after the Constitutional Court ruled to uphold his impeachment. The ruling strips him of all presidential benefits with the exception of some 40 security officials. Yoon also faces a criminal trial on charges of insurrection with a hearing set for next Monday. Should he be found guilty he may face life in prison or the death penalty.

PPP primary to have heart monitors during debate, MBTI self-introductions for younger voters

2025/04/11 17:00

Also on the political front. The People Power Party is planning to make its partisan primary election more appealing to those in their 20s and 30s. The party's primaries will require contenders to put on heart monitors during debates as well as partake in speed games and to include in their introductions their personality type as evaluated via the MBTI test. As of this Friday nine party members have voiced their intentions to run in the presidential race including five-term lawmaker Na Kyung-won who declared her decision earlier this afternoon. Seoul Mayor Oh Se-hoon is scheduled to share his bid on the 13th while Hong Joon-pyo resigned from his Daegu mayor post today and is set to make his bid on the 14th.

PEOPLE, POLITICS, TARIFFS AFTER COURT RULING

2025/04/11 17:00

Hello and welcome. It's Friday April 11th and you're watching Press Perspective. Today we touch upon a host of issues here on the local front AS REPORTED by the foreign media including public sentiment and election preparations all amid U.S. tariffs. For more I have Yang Chien-Hao a freelance journalist from Taiwan based here in Seoul. Chien-Hao welcome. I also have Chloe Borgnon with French broadcaster France 24. Chloe it's good to have you here. 1) Chien-Hao, public rallies leading up to the Constitutional Court's ruling were intense. 2) And Chloe, I believe South Korea's political polarization continues to make international headlines. 3-1) Chien-Hao, contrary to earlier concerns, there have been no violent displays of public discontent over the latest political developments. 3-2) Chien-Hao, do you suppose the reality that the ruling by the Constitutional Court was unanimous served to ward off radical public behaviour? 4) Chloe, there are mounting concerns here in South Korea, ahead of the early election, regarding the potential spread of disinformation to sway voters. 5) Chien-Hao, the presidential race is on as foreign media outlets have been quick to report. 6) And Chloe, what messages from the presidential candidates would be of interest to Europe, do you think? 7) Chien-Hao, clearly, the most urgent task for the new tenant of South Korea's top office is America's tariff policy. 8) Chloe, staying with tariffs. All right.

K-wave AI News

2025/04/11 14:00

Hello and welcome to your AI guide to the latest cultural updates from Korea. Here's our top story. Two pivotal chapters of Korea's modern history have been officially recognized by UNESCO. The Jeju April 3rd Archives and post-war forest rehabilitation records have been added to the list of UNESCO's Memory of the World. The decision was made during UNESCO's Executive Board meeting in Paris on Friday, local time. The Jeju April 3rd Archives comprise more than 14,600 documents chronicling the thousands of civilians killed during the Jeju Uprising, which began in 1948. The collection also includes records of the subsequent efforts for truth-finding and reconciliation. UNESCO recognized the archives for their historical value, authenticity, and universal significance. Also inscribed were Korea's forest rehabilitation records—a collection of over 9,600 materials, including official documents, photographs, and public campaign materials from the post-Korean War era. Often referred to as Korea's "Green Revolution," the nationwide reforestation movement played a critical role in rebuilding the country from the devastation of war. With these additions, Korea now holds 20 entries on the UNESCO Memory of the World Register. The number of visitors to Cheong Wa Dae, the former presidential compound, spiked sharply after President Yoon Suk-yeol was dismissed. According to the Cheong Wa Dae Foundation, more than 16,000 people visited the site over the weekend following the Constitutional Court's impeachment ruling, up by over 5,200 compared to the previous weekend. A foundation official noted that the surge represents more than a threefold jump from the usual daily average. President Yoon relocated the presidential office to Yongsan in May 2022, and Cheong Wa Dae was opened to the public for the first time on his inauguration day. With speculation mounting that the next administration could return to the Blue House, visitor numbers are expected to remain high in the coming weeks. Since its public opening, Cheong Wa Dae has steadily evolved into a major cultural and arts venue, attracting over seven million visitors to date. An exhibition celebrating the artistic legacy of Uigyeom, a renowned Buddhist monk-painter of the late Joseon Dynasty, has opened ahead of Buddha's Birthday. Showcasing 47 works, including three National Treasures, it underscores the historical and artistic significance of Uigyeom's contributions to Buddhist art. Among the highlights is the 'Yeongsanhoesangdo' from Haeinsa Temple, painted in 1729. Designated a National Treasure, the painting depicts Shakyamuni Buddha delivering a sermon, which serves as a key reference in the study of late Joseon Buddhist painting. Active from the early to mid-18th century, Uigyeom is believed to have produced Buddhist artworks at temples across Korea for over four decades. The exhibition runs through June 29 at the Central Buddhist Museum of the Jogye Order with select works, including the Yeongsanhoesangdo, on view until April 22. That's all from me. Keep it tuned to the Kulture Wave.

[Kulture-Issue] K-film studies thriving among local and foreign students

2025/04/11 14:00

As Korean movies are receiving increased recognition worldwide, the interest in studying film in Korea has gone up as well, not just among domestic students, but also exchange students from abroad. Today, we want to delve into Korea's film departments and their curriculum, with our movie expert, Jae Soh, Professor and filmmaker at Seoul Institute of the Arts. Welcome back, Professor Soh! Q1. Prof. Soh, as a Professor teaching in the film department at Seoul Institute of the Arts, you are seeing the interest of students grow, up close right? Tell us how it has been lately. Q2. It also seems that more and more students from abroad are interested in pursuing film education in Korea. Is it really so and if yes, which countries do they come from? Q3. "Squid Game" and "Parasite" are probably the two productions that have raised the status of Korean content abroad. How do you think these global successes have affected the enrollment in film departments at Korean universities/academic institutions? Q4. Is there anything unique about the curriculum at film departments in Korea that maybe sets them apart from film education abroad? And what are some of the things that international students find particularly interesting? Q5. What has been your favorite part of teaching international students? Q6. Professor Soh, we touched upon this a number of times with you, but the movie industry has actually been facing challenges lately. But why is it then, that film-related majors are still attracting so many students? Q7. What direction do you think film and content education in Korea should take in the future? Thank you very much Professor Soh for your insights today and please keep contributing to the expansion of high-quality film education in Korea. Thank you Bella, Have a fantastic weekend.

[K-enter] BTS's "IDOL" hits 500mil. streams on Spotify

2025/04/11 14:00

Time for our daily dose of K-entertainment news with Bella Kim. Bella, nothing can stop "IDOL" group BTS from reaching new milestones! What's the latest? BTS have added another streaming milestone to their name. According to Spotify's latest chart update, BTS's hit track "IDOL" has officially surpassed 500 million streams. It's the group's 15th song to cross the 500-million-stream mark on Spotify. "IDOL" was released back in August 2018 as the title track of the repackaged album "LOVE YOURSELF 結 'Answer'." It's a song with global sounds as it blends South African dance rhythms with traditional Korean musical elements. Upon its release, the song achieved major chart success, landing at No.11 on the U.S. Billboard Hot 100 and No.21 on the UK Official Singles Chart. In 2022, it also earned a Platinum certification from the Recording Industry Association of Japan in the streaming category. "IDOL" indeed. Our second story for today is on a Korean film set to influence global viewers? "Lobby," released earlier this month in Korea, will soon hit theaters in overseas countries, including Vietnam, Australia, Japan and Hong Kong. According to its distributor, SHOWBOX, the film has confirmed its premiere in Vietnam on April 18th and in Australia and New Zealand on the 24th. It will continue its release in Taiwan, Japan, Hong Kong, Indonesia, and other places around the world. "Lobby" tells the story of a startup CEO, Chang-wook, played by Ha Jung-woo, who only knows research but turns to lobbying on the golf course in order to secure a 4 trillion won national project. It sounds pretty serious, but it's actually a comedy film. What's also notable is that this film is Ha Jung-woo's third film as a director. So if you're a fan of Ha Jung-woo or just want to have some laughs, make sure to check it out when it premieres in your area. Just by the title and the summary, it does sound pretty serious, but it's very interesting to hear that it is a comedy film. Along with "Lobby," there's also a Korean show that global viewers can enjoy very soon in their living room? Netflix has dropped the official trailer for upcoming drama series "Weak Hero Class 2," starring Park Ji-hoon, Ryeo Un and Choi Min-young. Based on a popular webtoon of the same name, "Weak Hero Class 2" follows the story of Yeon Si-eun, a model student who transfers to Eunjang High School carrying the trauma of failing to protect a friend from violence. Determined not to lose another friend, he faces even greater challenges in a gripping tale of survival and growth. The first season, "Weak Hero Class 1," was initially released on Wavve in 2022 and was re-released on Netflix last Month. Upon its release on Netflix, it received tremendous love as it made into the TOP 10 in over 70 countries and stayed in the Top 10 non-English show category for 2 consecutive weeks. With the first season's success, the anticipation for its sequel is growing bigger and bigger. "Weak Hero Class 2" will be available worldwide on Netflix on April 25th. I should go watch the first season before the second one comes out. Thank you Bella for today's stories. We now have our AI anchor Ari on stand-by, for other culture-related news! Ari!

[Features-reporter] Live from Yeouido: Full blooming of cherry blossoms in Seoul

2025/04/11 14:00

So, as Bella just mentioned, the cherry blossoms are in full bloom here in the capital Seoul, it's a perfect day with temperatures in their twenties this afternoon. Our Choi Soo-hyung Right looks like such a stunning scene right over there and thanks for some valuable information as well. Also Soo-hyung, I hear the festival was delayed a bit and some traffic restrictions have been extended in consideration of the crowds seeking to indulge in this year's cherry blossoms. Could do you tell us more about that? That's right Actually, it was supposed to start on April 4th last Friday, but it was delayed due to the verdict day for former president Yoon Suk-yeol's impeachment trial. Because of that, the festival will continue until Saturday, April 12th and people can enjoy the cherry blossoms until the weekend. To run the festival, some parts of the road behind the National Assembly have been closed. The Yeongdeungpo-gu Office announced that even though the festival will end on the 12th, traffic restrictions will stay in place until Sunday the 13th. Strong winds and sudden rain are forecast over the weekend, but since the festival is still going on, it's not too late to enjoy the cherry blossoms. I think because of the mild weather the night view of the flowers will be worth watching as well. Right, before it get's rainy tomorrow. Thank you Soo-hyung for your coverage today!

U.S. consumer prices see first monthly decline in nearly 5 years

2025/04/11 10:00

Also in the United States, consumer prices fell by 0.1% in March, marking the first monthly decline in nearly five years. The decrease was primarily driven by a 6.3% drop in gasoline prices and reduced costs for used vehicles, airline fares, and hotel accommodations. The annual inflation rate eased to 2.4%, its lowest since September 2021, while core inflation, excluding food and energy, rose by just 0.1%. However, economists caution that this relief may be temporary, with new tariffs expected to exert upward pressure on prices in the coming months.

Six dead in New York City helicopter crash

2025/04/11 10:00

Meanwhile, in the United States, a helicopter carrying a family from Spain crashed in New York City's Hudson River, resulting in the deaths of all six individuals on board, including the pilot. On Thursday afternoon, local time, at 3:17 PM, a Bell 206 helicopter operated by New York Helicopters crashed into the Hudson River near Lower Manhattan. The aircraft carried a Spanish family of two adults and three children, along with the pilot. Eyewitnesses observed the helicopter breaking apart mid-air before crashing upside-down into the water. The Federal Aviation Administration and the National Transportation Safety Board have begun investigations into the cause of the crash. Mayor Eric Adams extended condolences to the victims' families, describing the incident as "heartbreaking and tragic."

Defence ministers of 'coalition of willing' meet in Brussels, discuss bolstering Ukraine forces

2025/04/11 10:00

Beginning in Europe, defense ministers of 31 nations convened in Brussels to discuss the formation of a multinational force aimed at supporting Ukraine. The so-called "coalition of the willing," led by the United Kingdom and France, aims to establish a framework for ensuring lasting peace in the region. On Thursday local time, at the NATO headquarters in Brussels, the defense ministers deliberated on creating a "reassurance force" for Ukraine, in the event of a future ceasefire with Russia. The proposed force is envisioned to comprise of between 10,000 and 30,000 troops, stationed away from active front lines. However, uncertainties remain over the role of the United States. While the U.S. did not participate in the Brussels meeting, European ministers underscored the importance of American Support.

U.S. military commanders warn over potential Korea troop withdrawal

2025/04/11 10:00

U.S. military commanders have voiced concerns over a potential troop withdrawal from South Korea. At the Senate Armed Services Committee hearing held in Washington D.C. on Thursday, Commander of the U.S. Indo-Pacific Command Samuel Paparo said losing U.S. forces would mean a "higher probability" of North Korea invading the South. Xavier Brunson, the commander of U.S. forces in Korea, also said a reduction would be "problematic," adding that U.S. presence helps deter threats from China and Russia. Roughly 28-thousand-5-hundred American troops are stationed in South Korea.

Former DP Chairman Lee Jae-myung announces presidential candidacy in video message

2025/04/11 10:00

Former Democratic Party leader Lee Jae-myung has announced his third run for the nation's top office after stepping down as the party leader on Wednesday. In a video message on Thursday, Lee pledged dedication to the people in a new vision dubbed "K-Initiative" that highlights Korea's ability to turn crisis into opportunity. He will elaborate on this vision at the parliament on Friday. Other DP candidates are former lawmaker Kim Du-kwan and Governor of Gyeonggi-do Province Kim Dong-yeon who earlier declared their intentions to run in the race. And the opposition party has tapped Park Beom-kye, a four-term lawmaker, as its election committee chair. The party will announce its partisan primary election plan on Friday.

PPP presidential primary rules set: Garnering attention, support amid impeachment fallout

2025/04/11 10:00

The race for the top office is just getting started. The Power People Party on Thursday disclosed its partisan primary election plan. The first round of cut-offs will be based on public opinion. Our correspondent Kim Do-yeon reports. The rules for the People Power Party's presidential primary are set. With over 10 contenders expected to vie for the nomination, there will be a series of cut-offs. But their biggest challenge: winning public support amid the fallout from President Yoon Suk Yeol's impeachment. That's why the first round of cut-offs, to leave four contenders, will be an open survey to all citizens, not just their registered members. "The decision to base the first round entirely on the general public was made in response to widespread calls for an open primary and greater weight on public sentiment. This ensures that candidates who align with the public's expectations can advance to the four-way race." As for the specific timeline, the first round of candidates will be finalized by April 16th. After three days of debates, the general public poll will leave four contenders. For the next few days, the four candidates will face the media and debate each other. The next cut-off survey starts on the 27th and by the 29th the remaining two will be decided through an open poll for 50 percent and eligible PPP electors for 50 percent, or registered PPP members who've paid for party membership at least once in the past year. If one of the four contenders receives more than 50 percent of the final votes here, he or she will be the final candidate. If not, on April 30th, a debate will be held between the two contenders. On May 3rd, the PPP will hold a convention and announce its candidate. Meanwhile, to prevent tactical voting in open polls—where opposition supporters might try to boost a weaker PPP candidate—respondents will be asked the party they support before taking the survey. As for the race, the latest to enter is former PPP chair Han Dong-hoon. Speaking at the National Assembly, Han vowed to block what he called Lee Jae-myung's "monstrous" administration and says he wants a generational shift in politics. "I'm going to create a nation where the citizens come first, the middle class grows, and practicality beats ideology. With that in mind, I will make a change in politics, the era, and the generation." Once the closest to President Yoon, Han broke ranks in early 2024 and even backed Yoon's impeachment. Because of this, he's expected to score high on the all-open voting tallies. Daegu Mayor Hong Joon-pyo is also likely a beneficiary, and his declaration is set to come next Monday. On the other hand, Yoon's close political ally, Na Kyung-won, also announced that she will declare her candidacy on Friday. Kim Moon-soo and Ahn Cheol-soo are among those that's declared candidacy already. Kim Do-yeon, Arirang News.

On-point: Has S. Korea recovered from the impeachment ruling?

2025/04/11 10:00

It's been a week since the court's dismissal of President Yoon Suk Yeol over his martial law order. How is South Korea doing without a leader? Have the South Korean people recovered from the political drama? Let's turn to Professor Robert Kelly. Welcome back. 1. A week since the court's dismissal It also means it's been a week without the country's leader. How would you evaluate how the country's doing without a president on the social front? 2. Why do you think there was no dramatic violence or unrest following the impeachment ruling this time? 3. Are you saying the South Korean people have fully exercised the idea of democracy? How? Do you think we learned from our experience 8 years ago? 4. We are now officially on election mode. How can we have a civil election? What is essential for a peaceful and harmonious election in June? 5. What next after the election then? How do we welcome a new administration in a civil, democratic manner? Thanks so much for sharing your insight with us. We appreciate it.

Wall Street sees sell-off one day after major gains due to U.S.-China trade conflict

2025/04/11 10:00

The New York Stock Exchange plunged on Thursday, just a day after Trump announced a 90-day pause for reciprocal tariffs that drove massive gains. The Dow Jones Industrial Average fell two-point-five percent from the previous trading session to close under the 40-thousand mark. The S&P 500 fell more than 3 percent, while the tech-heavy Nasdaq also dropped more than 4 percent from the previous trading session. Wall Street saw major sell-offs due to recession concerns amid the escalating U.S.-China trade conflict.

Jeju 4.3 Archives officially listed in UNESCO’s Memory of the World Register

2025/04/11 10:00

UNESCO has officially listed the Jeju 4.3 Archives in its Memory of the World Register, recognizing their historical value, authenticity, and universal significance. The decision was confirmed Thursday, local time in France, according to Jeju officials. The archives contain around 15-thousand records, including victim testimonies and documents from the decades-long truth and reconciliation process related to the April 3rd Incident and following civilian massacres on Jeju Island in 1948 and 1949. With this latest addition, South Korea now has 20 entries in UNESCO's Memory of the World Register.

South Korea establishes diplomatic ties with Syria, longtime ally of North Korea

2025/04/11 10:00

South Korea has established a formal diplomatic relations with Syria the last remaining UN member state apart from North Korea that did not have formal ties with Seoul. Our foreign affairs correspondent Bae Eun-ji reports. Syria has now become the 194th country in the world to form diplomatic relations with South Korea marking a milestone for the country, as it now has formal ties with all UN member states, except North Korea. Foreign minister Cho Tae-yul visited Syria's capital city Damascus this week,.. and signed a joint statement on Thursday local time, with his counterpart Assad al-Shaibani. "By establishing diplomatic relations with Syria -the last remaining country with which we had no diplomatic ties, South Korea has now reached a historic milestone of establishing diplomatic relations with all 191 UN member states." The two sides held a meeting, where Cho said South Korea is willing to contribute to reconstruction efforts in Syria, and discussed the possibility of Korean companies participating in rebuilding the country. He also promised Seoul will provide humanitarian assistance including medicine, medical equipment and rice. During his visit, Cho also met the country's interim president, Ahmed al-Sharaa.. and said taking a firm stance against extremism and eliminating chemical weapons, will help create an environment conducive to the country's development. South Korea started to work on forging diplomatic ties with Syria, after more than 13 years of war recently put an end to the brutal Assad dictatorship which had maintained a close relationship with North Korea for decades. The Assad family regime, which ruled the country for more than 50 years, collapsed in December during a major offensive by opposition forces. Syria has had diplomatic ties with North Korea since 1966, but the fall of the dictatorship brought about a significant shift in its relations with Pyongyang. Now that South Korea has forged ties with nations that have been close allies of the North, including Cuba last year, this latest diplomatic development is expected to further isolate Pyongyang on the global stage. Bae Eun-ji, Arirang News.

China says door for dialogue with the U.S. is open

2025/04/11 10:00

Despite blow-for-blow tariffs being exchanged between the two largest economies in the world, China also said it's open for talks with the U.S. Lee Seung-jae has more. The United States and China have been facing off with tariffs imposed left and right. China responded to U.S. President Donald Trump's 104 percent tariffs by imposing an 84 percent tariff on American goods. Trump quickly countered with additional tariffs against China, with levies now at up to 145 percent. On Thursday, Beijing expressed its willingness to hold talks with the U.S. in the hope of putting an end to the tariff war. "China's position is clear and consistent. If the United States wants to talk, our door is open. However, dialogue must be conducted on an equal footing and on the basis of mutual respect." The spokesperson also warned that if the U.S insists on pursuing a tariff war, China will respond and "fight till the end." She added that pressure, threats, or blackmail are not the right way to deal with China. The European Union is also open for negotiations with the U.S., as it announced it would put its trade retaliation measures on hold for 90 days. According to European Commission President Ursula von der Leyen on Thursday, the bloc "took note of the announcement by President Trump," adding that the EU wants to give negotiations a chance. The European Commission spokesperson also announced the 27-member bloc's willingness to hold talks with Washington. "We believe we can reach all sorts of beneficial outcomes from both sides that would avoid the types of tariffs that we believe are harmful and counterproductive. So we're continuing all our preparations, and we will continue to talk to our member states, talk to our industry, and we remain ready to engage in a meaningful way with the U.S." Despite the tariff-for-tariff war between major economies, there are now hopes that the parties involved will sit down for talks, in a bid to ease the global trade tensions. Lee Seung-jae, Arirang News.