News

Reform Party leader continues young voter outreach as last minute merger attempt fails

2025/05/30 10:00

Also on Thursday, Reform Party candidate Lee Jun-seok also cast his ballot at an early voting station in Hwaseong City Gyeonggi-do Province which he added was the closest to where he lives. On his campaign agenda for Thursday were talks with tech workers, college students, and a visit to a popular street food alley in central Seoul. Also, pundits believe a merger between Lee Jun-seok and Kim Moon-soo is now essentially out of the equation as early voting has kicked off.

PPP's Kim rallies with theme 'Beginning of a Great Comeback,' resembling Incheon landings

2025/05/30 10:00

The conservative party's Kim Moon-soo also voted early at his main rival Lee Jae-myung's congressional district while calling for stronger voter participation for democracy. Our Kim Do-yeon has more. With the election campaign coming to the final stages, as early voting started on Thursday, the People Power Party's presidential candidate, Kim Moon-soo, focused on making a comeback. His rallies for the day were called "The Beginning of a Great Comeback," and he said he's done it before some 30 years ago when he first ran for a seat in the parliament. "I was third until the last three days before the election, but won it to become a lawmaker. Who picks parliamentary members? Citizens do. Who picks the president? Citizens do. We call this democracy, right?" The idea of a comeback comes as the election comes from PPP's former president having been impeached, and it needing a strong change in narrative. It showed at the rallies. Kim made his way to a rally in the central part of the capital region—Gyeonggi-do Province—after kicking off the day in the western port city of Incheon. The route is symbolic, echoing the Incheon Landing Operation during the Korean War—a turning point that shifted the tide of the conflict. He also urged people to vote during early voting. For his own ballot, he chose to do it at his rival Lee Jae-Myung's congressional district. While the party said the message was clear, Kim said he didn't try to force the idea. "Well, it's not just about Lee Jae-myung, but my daughter lives in Bucheon right across the street here. We just stopped by on our way to other rallies. Lee Jae-myung could be one of the reasons." Kim also told voters that the early voting process will be managed fairly, though some question the process as the transportation and opening of the ballot is more complicated than regular voting. He said not voting is a bigger problem. Kim Do-yeon, Arirang News.

DP's Lee casts vote in Seoul's Sinchon; campaigns in capital, seeking support amid early voting

2025/05/30 10:00

And the presidential runners are going all out for the next four days until the actual big day. The liberal party's Lee Jae-myung cast his ballot early on Thursday here in Seoul, seeking support in the biggest battleground. Our correspondent Shin Ha-young reports. Marking the first day of early voting in the snap presidential election, Democratic Party candidate Lee Jae-myung kicked off his campaign on Thursday morning after casting his ballot in Sinchon, Seoul, an area known for its many universities. After voting alongside young people, he encouraged the public to vote, emphasizing that it was the strongest way for them to exercise their sovereignty. "We can overcome the insurrection if people come out to vote. I chose to vote alongside young people because I hope this election marks the start of a new era for South Korea, led by its youth." The DP also focused its efforts on encouraging people to vote. Even though early voting takes place on weekdays, the party believes it's crucial to bring as many supporters as possible to the polls to secure victory in the presidential election. They urged voters to take part and clearly show who truly holds power in the country. Lee later addressed supporters again in the capital, including in Seocho-gu District, one of Seoul's busiest transit hubs. "During his campaign in Seoul's Seocho-gu District, Lee Jae-myung outlined plans to develop the area into a hub for K-culture and make the Gangnam region a more competitive and innovative center of the city's economy." Ahead of Thursday's rallies, Lee joined a meeting on supporting startups, where he discussed expanding the research and development budget, and easing regulations. "We're now in a time when the private sector is more advanced than the public sector, so we need to shift the direction of the administration. That includes creating a chief policy coordinator for AI at the presidential office, and boosting the National Artificial Intelligence Committee." Lee will continue his campaign in Gangwon-do Province on Friday, where rival Kim Moon-soo of the People Power Party is also scheduled to hold rallies. Shin Ha-young, Arirang News.

Court blocks Trump administration's effort to bar Harvard from enrolling international students

2025/05/30 10:00

The Trump administration has begun the process of barring Harvard University from enrolling international students, but the courts have again blocked it. The U.S. State Department said that the review of student visas will resume soon. Lee Seung-jae has the details. Last week, a federal judge blocked the Trump administration's decision to revoke Harvard University's ability to enroll international students. This put the brakes on the government's plan to take away Harvard's certification in the Student and Exchange Visitor Program, which allows schools in the U.S. to host international students with proper visas. However, the government notified the Ivy League school once again on Wednesday, that it would revoke the program, despite the court injunction. The Trump administration on Thursday gave Harvard 30 days to contest the government's move to revoke its Student and Exchange Visitor Program. In a notice of intent sent by the U.S. Department of Homeland on Wednesday, it said that the school has 30 calendar days to "submit written representation under oath and supported by documentary evidence" setting forth why SEVP should not be withdrawn from Harvard's certification. However, this, too, was blocked by a federal judge, who said that she would issue a preliminary injunction that would allow the school to continue enrolling international students. In the meantime, the U.S. State Department hinted at the resumption of student visa interviews, which were suspended earlier this week in order to introduce a new "social media screening" system. The Trump administration has been arguing that Harvard has "failed to maintain a campus environment free from violence and antisemitism," arguing that the school should be stripped of their ability to enroll international students. Lee Seung-jae, Arirang News.

How will S. Korea-U.S. tariff negotiations play out?

2025/05/30 10:00

Economists and diplomatic experts have gathered on South Korea's southern Jeju Island for an international peace forum where growing uncertainty of Trump's trade policies were at the center of discussion. Our foreign affairs correspondent Bae Eun-ji was there. Experts are now warning that U.S. President Donald Trump's economic policies could have 'conflicting consequences' that do not necessarily promote economic growth or increase productivity in the country's economy. Speaking on Thursday at an international peace forum held on Jeju Island, Jeffrey Schott, a senior fellow from Peterson Institute for International Economics.. said uncertainty about the size and duration of tariffs will discourage or delay investment decisions. "So the climate is even more uncertain, and uncertainty is a tax on doing business. That's a lesson in economics that I think the Trump administration is only now beginning to learn." South Korea, which faces 25% U.S. reciprocal tariffs has been seeking a trade deal with the Trump administration before the July 8th deadline, when the 90-day pause on reciprocal tariffs is lifted. Scott Snyder, the head of the Korea Economic Institute of America, who is also at the Jeju forum explained there will be a 'series of deals,' adding that although the current focus is on tariffs, there will be another negotiation on security. "I would say deal by deal. I think that is going to go on, maybe for the entire Trump administration. New things will pop up and they will require negotiation, and so I think that's what will happen and I think it will be ongoing. It will be stressful, but I think that until both sides come to a place where they're satisfied with everything, President Trump's style is to want to make deals but I don't believe that it's going to be a one big beautiful deal." He suggested it would be important for the Korean government to have negotiation strategies to make sure that what Trump is trying to do is perceived as too costly. He also noted that shipbuilding is clearly an area where South Korea has a set of technologies that the U.S. is in need of. Amid more uncertainty over Trump's tariff policies, especially following the latest decision from the U.S. trade court, eyes are now on how the trade negotiations between Seoul and Washington will play out. Bae Eun-ji, Arirang News, Jeju.

First day of early voting reaches record-high voter turnout rate

2025/05/29 20:00

The two-day early voting started today ahead of the June 3rd presidential election next week. Nearly 8-point-7 million voters cast their ballots on this first day, with the turnout reaching a record-high for Day One. Our Ahn Sung-jin spoke with those who cast their ballots for their hopes and wishes. The line stretches out far beyond the front of the polling station. With early voting starting on Thursday, those who came to cast their ballot ahead of the presidential election next Tuesday have poured in. Election officials had to control the line of people, and in the afternoon, there was a waiting time of around 30 to 40 minutes. "I had come here during lunchtime, but the line was so long, so I came again now. It's obvious for me to come and exercise my rights." "A good thing about early voting is we get to come in at a convenient time for us. Especially for this time because the previous president was impeached, I cast a ballot in hopes of a president with a vision for the country." "This polling station in Yeoksam-dong Gangnam-gu District, in a bustling area with offices and business people, has been seeing an influx of voters from early in the morning till the end of the first day." The voter turnout rate for the first day was at 19-point-58 percent, 2-point-01 percentage points higher than the previous presidential election, and a record-high figure for the first day of early voting since 2014, when early voting took place in nationwide elections. A total of 8,691,711 voters cast their ballots across the country. Early voting takes place for two days, Thursday and Friday, from 6 AM til 6 PM. Voters must be over 18 and bring a government-issued ID. Ahn Sung-jin, Arirang News.

Why the world is flocking to Busan for content

2025/05/29 20:00

In other news. The southeastern port city of Busan serves as a platform for content creators, sellers and buyers for an annual event aimed at broadening access to diverse screen productions. Park Kun-woo reports. Camera flashes light up the pink carpet as celebrities pose and wave to fans. It may look like a glamorous scene at Cannes, but this is Busan – a major city in southern South Korea, turning into a global content hub. At the heart of this transformation is the 19th Busan Content Market or BCM, where global buyers and sellers gather to trade content rights. And this year, BCM is opening its doors to the public. In a new collaboration with Canneseries, nine shows were screened before their official premieres, including the Norwegian series "Nepobaby" that won multiple awards. "We haven't sold this show to anyone yet so it's very exciting if someone in the Asian market is going to pick it up. A good place where we can like meet new producers and see if we can cooperate in a way." Global demand for high-quality content is not only bringing stars, but business to Busan. "A single drama or short-form video is more than just entertainment – it's a product and an investment. Thousands of people from 50 different countries have gathered in Busan, all searching for the next big hit. And with deals surpassing 100 million dollars each year, Busan has become a front line in the global content business." Korean companies are also making moves to meet wider demand. "We're using AI in production -from editing to adding product placements after filming -saving both time and cost, while improving user experience." Arirang TV also met with buyers from Japan, Mongolia, and beyond, showcasing visions for the future of Korean content, while aiming to broaden its reach ahead of its 30th anniversary. And these efforts are fueling Korean content's global momentum with buyers remaining hungry for more. "We are searching for the Korean costume dramas and documentaries. This is our interest." But organizers say they're looking far beyond. "There's concern over how long the Korean Wave can last. That's why we're targeting new markets and genres and linking Busan's content scene with finance and investment for future growth." Since launching in 2007, BCM has evolved into one of Asia's key content markets. And this year's edition, running through Friday at BEXCO, shows Busan isn't just showcasing content, but shaping the future of it. Park Kun-woo, Arirang News, Busan.

U.S. court blocks Trump’s ‘Liberation Day’ tariffs, ruling they exceed legal authority

2025/05/29 20:00

The Trump administration's reciprocal tariffs on America's trade partners have hit a legal hurdle at home with a U.S. court ruling that the president has stepped beyond his authority. The Trump team lodged an appeal. Shin Se-byuck has more. The U.S. Court of International Trade struck down core parts of Trump's "Liberation Day" tariffs, saying they overstepped presidential authority under existing law. At the center of the ruling is the 1977 International Emergency Economic Powers Act, or IEEPA. The Trump administration cited the law on April 2 to justify a global 10-percent tariff, along with higher, reciprocal duties on major trading partners like South Korea, the EU, Japan, and China. But the court rejected this interpretation. It said the law was intended for true emergencies, not for addressing routine trade deficits. The judges emphasized that Congress never gave the president blanket authority to impose such broad trade measures. The ruling halts some of the administration's most controversial trade actions, including 30 percent tariffs on Chinese imports, 25-percent duties on select Mexican and Canadian goods, and a 10-percent universal tariff on most products entering the U.S. However, the ruling does not affect auto, steel, or aluminum tariffs imposed under a separate legal provision, Section 232 of the Trade Expansion Act, a law permitting tariffs for national security reasons. Just minutes after the decision, the Trump administration filed a notice of appeal. The White House pushed back against the ruling, arguing that decisions on national emergencies should rest with the president, not the courts. It also reaffirmed President Trump's commitment to fully exercising his executive powers to respond to the crisis and advance his "America First" agenda. The court has given the administration a ten-day window to issue any necessary administrative orders. If the ruling is upheld through appeal, and possibly the Supreme Court, most of the tariffs would be suspended. The lawsuit, brought by the nonpartisan Liberty Justice Center on behalf of five small importers affected by the tariffs, marked the first major legal challenge to Trump's so-called "Liberation Day" measures. Shin Se-byuck, Arirang News.

S. Korea's real consumption falls in Q1 2025 despite rising income

2025/05/29 20:00

South Korea's household real consumption in the first quarter of 2025 dropped for the first time in 7 quarters. According to Statistics Korea on Thursday, household consumption rose by 1-point-4 percent in the first quarter of 2025. However, inflation-adjusted spending fell by point-7 percent, marking the largest real decline since the fourth quarter of 2020 during the COVID pandemic. Pundits say uncertainties like last December's martial law declaration, and U.S. tariff policies might have weakened consumer confidence in spending, despite a rise in household income.

S. Korea cuts key interest rates to 2.5% in May meeting amid sluggish growth concerns

2025/05/29 20:00

Korea's central bank has slashed its benchmark rate by 25 basis points to 2-and-a-half percent over concerns about slowing economy. The country's growth forecast for this year was cut by almost half to less than 1-percent. Lee Soo-jin has the details. South Korea's central bank has lowered its interest rate by 25 basis points, as widely expected, bringing it down to 2-point-5 percent. The Bank of Korea on Thursday announced the rate cut following the fourth Monetary Policy Committee meeting of the year, citing concerns about sluggish economic growth. "With inflation continuing to ease and growth expected to slow significantly, the Bank of Korea said it judged an additional rate cut to be appropriate to help ease downward pressure on the economy. The decision was unanimous among Monetary Policy Committee members." The decision comes after the central bank left rates unchanged in January and April, and lowered them in February. The decision to slash rates was mainly driven by concerns over weak growth, with domestic demand weighed down by sluggish consumption and a downturn in construction investment. South Korea's economy contracted in the first quarter ---shrinking by zero-point-2 percent on-quarter, a sharp downturn from the central bank's February forecast of zero-point-2 percent growth. "Domestic demand has remained weak nowadays and overall consumer sentiment remains subdued. Although exports have shown signs of improvement these days, it's clear that without rebound in domestic demand, economic recovery will be difficult in the short term." The BOK also slashed its GDP growth forecast for this year to zero-point-8 percent from 1-point-5 percent in its latest economic outlook report, which is released four times a year ---in February, May, August, and November. This mirrors a downgrade by the state-run Korea Development Institute and major global investment banks, all also projecting just zero-point-8 percent growth as of late April. The central bank's projection for 2026 was also lowered to 1-point-6 percent, but the outlook for this year's consumer price inflation was maintained at 1-point-9 percent. The Monetary Policy Committee also had room to cut rates as the Korean won has strengthened to the 1-thousand-3-hundred range against the greenback, after nearing the 1-thousand-5-hundred mark and forcing the committee to hold rates steady last month. But the move widens the rate gap with the U.S. to 2 percentage points, raising concerns over capital outflow and whether more cuts could fuel home prices and household debt without lifting growth. "And that's why the Bank of Korea is emphasizing that while it's open to further rate cuts to support growth, it will closely monitor both global and domestic conditions before deciding on the timing of its next move. Lee Soo-jin, Arirang News."

Early voting kicks off for 2025 Presidential Election: what to watch for

2025/05/29 20:00

Day One of early voting wrapped up some two hours ago, hopefully, serving as a barometer indicating how engaged the public is. For more on the early voting process and what to watch for, we're joined by our Moon Hye-ryeon in the studio. Hye-ryeon, what stands out to you this time when Korea is holding a snap election? What stands out is how authorities are working more thoroughly than in past elections to ensure a secure and transparent voting process. During the two-day early voting period, security will be intensified, with more than six thousand police officers deployed to early voting stations in Seoul alone. Acting President Lee Ju-ho has personally visited early voting stations, urging officials to ensure a fair process. "It's an important election, and it must be fair without the slightest gap, so I ask for your best efforts." For the first time ever, the NEC is publishing real-time data on the number of voters every hour — and this change is intended to dispel suspicions that early voting numbers could be inflated to manipulate results. The NEC also announced that all election staff — including ballot counters and polling station managers — will be confirmed as South Korean nationals. This comes following controversy that a Chinese national was working as a ballot counter back in the 2020 parliamentary elections. Although current election law does not require election staff to be South Korean citizens, the NEC has taken this extra step to further safeguard public trust. Also, for the first time, the NEC will operate a team of 30 members to observe the entire election process — from candidate registration to ballot storage. Additionally, 24-hour surveillance camera feeds from ballot storage facilities will be available to the public. This was first introduced during the general election last year, and citizens can visit their local NEC offices to view the live footage. Furthermore, in response to past controversies over the use of QR codes on ballot papers, this year's early voting ballots will feature one-dimensional barcodes to boost transparency and address suspicions of tampering. Tell us how early voting started in Korea and what this means for voters. Early voting was first introduced in 2012 and piloted in 2013 as a way to make elections more accessible — especially for people who can't vote on the main election day due to work, travel, or other commitments. In past elections, early voting was usually held on Fridays and Saturdays, allowing people with weekday jobs to vote on the weekend. But this year, both early voting days — May 29th and 30th — fall on weekdays only. That's because this is a snap election, triggered by the impeachment of a president. Under Korean law, the vote must take place within 60 days, so the schedule was compressed to meet the legal deadline. Despite the change, accessibility remains a key focus. There are more than three thousand early voting stations across the country — including polling stations inside hospitals, and even at Incheon International Airport to make sure that people on the move, including patients and travelers, can still vote. With early voting, no prior registration is needed — anyone can walk into an early voting station and cast their ballot. "Early voting can be done anywhere in the country, so I was able to stop by and vote on my way to work without the hassle of going to a different location." And looking ahead, what does the rest of the election timeline look like from here? Early voting will continue into tomorrow, with polling stations around the country open from 6 AM to 6 PM. After early voting closes on Friday evening, there will be a brief quiet period where campaigns will continue their final pushes before the official election day, which is next Tuesday, June 3rd. It's a national holiday, and polling stations will be open from 6 AM to 8 PM. Ballots will be counted immediately after voting ends, and the National Election Commission is expected to verify the results on Wednesday, June 4th. The inauguration of South Korea's new president will take place thereafter. Thank you for your report, Hye-ryeon. Thank you for having me.

Reform Party leader continues young voter outreach as last minute merger attempt fails

2025/05/29 20:00

Reform Party candidate Lee Jun-seok also cast his ballot at an early voting station in Hwaseong City, Gyeonggi-do Province. which he added was the closest to where he lives. On his campaign agenda for this Thursday are talks with tech workers, college students, and a visit to a popular street food alley in central Seoul. Also, pundits believe a merger between Lee Jun-seok and Kim Moon-soo is now essentially out of the equation as early voting has kicked off.

PPP's Kim rallies with theme 'Beginning of a Great Comeback,' resembling Incheon landings

2025/05/29 20:00

Conservative party contender Kim Moon-soo toured the Gyeonggi-do area, as he also called for strong voter participation for democracy. Our correspondent Kim Do-yeon reports. With the election campaign coming to the final stages, as early voting started on Thursday, the People Power Party's presidential candidate, Kim Moon-soo, focused on making a comeback. His rallies for the day were called "The Beginning of a Great Comeback," and he said he's done it before some 30 years ago when he first ran for a seat in the parliament. "I was third until the last three days before the election, but won it to become a lawmaker. Who picks parliamentary members? Citizens do. Who picks the president? Citizens do. We call this democracy, right?" The idea of a comeback comes as the election comes from PPP's former president having been impeached, and it needing a strong change in narrative. It showed at the rallies. Kim made his way to a rally in the central part of the capital region—Gyeonggi-do Province—after kicking off the day in the western port city of Incheon. The route is symbolic, echoing the Incheon Landing Operation during the Korean War—a turning point that shifted the tide of the conflict. He also urged people to vote during early voting. For his own ballot, he chose to do it at his rival Lee Jae-Myung's congressional district. While the party said the message was clear, Kim said he didn't try to force the idea. "Well, it's not just about Lee Jae-myung, but my daughter lives in Bucheon right across the street here. We just stopped by on our way to other rallies. Lee Jae-myung could be one of the reasons." Kim also told voters that the early voting process will be managed fairly, though some question the process as the transportation and opening of the ballot is more complicated than regular voting. He said not voting is a bigger problem. Kim Do-yeon, Arirang News.

DP's Lee casts vote in Seoul's Sinchon; campaigns in capital, seeking support amid early voting

2025/05/29 20:00

Liberal party contender Lee Jae-myung once again addressed his supporters in the capital, Seoul, today. With the start of early voting, he focused on encouraging the public to vote. Our correspondent Shin Ha-young reports. Marking the first day of early voting in the snap presidential election, Democratic Party candidate Lee Jae-myung kicked off his campaign on Thursday morning after casting his ballot in Sinchon, Seoul, an area known for its many universities. After voting alongside young people, he encouraged the public to vote, emphasizing that it was the strongest way for them to exercise their sovereignty. "We can overcome the insurrection if people come out to vote. I chose to vote alongside young people because I hope this election marks the start of a new era for South Korea, led by its youth." The DP also focused its efforts on encouraging people to vote. Even though early voting takes place on weekdays, the party believes it's crucial to bring as many supporters as possible to the polls to secure victory in the presidential election. They urged voters to take part and clearly show who truly holds power in the country. Lee later addressed supporters again in the capital, including in Seocho-gu District, one of Seoul’s busiest transit hubs. "During his campaign in Seoul’s Seocho-gu District, Lee Jae-myung outlined plans to develop the area into a hub for K-culture and make the Gangnam region a more competitive and innovative center of the city’s economy." Ahead of Thursday's rallies, Lee joined a meeting on supporting startups, where he discussed expanding the research and development budget, and easing regulations. "We're now in a time when the private sector is more advanced than the public sector, so we need to shift the direction of the administration. That includes creating a chief policy coordinator for AI at the presidential office, and boosting the National Artificial Intelligence Committee." Lee will continue his campaign in Gangwon-do Province on Friday, where rival Kim Moon-soo of the People Power Party is also scheduled to hold rallies. Shin Ha-young, Arirang News.

[Weather] Showers in some areas tomorrow, 28 degrees in Seoul

2025/05/29 20:00

Today, the first day of early voting, saw some short but heavy showers across the country. Some areas had strong showers accompanied by gusty winds, thunderstorms, and hail. There will be more showers tomorrow as well. But apart from the showers, the skies will be mostly clear nationwide. In addition, temperatures will also rise significantly during the day tomorrow. Seoul will rise as high as 28 degrees Celsius. The ultraviolet index will also soar from high to very high all over the country in the afternoon. The ozone concentration will be high with strong UV rays. Tomorrow morning, Seoul and Gwangju will start off at 15 degrees, Chuncheon and Gyeongju at 12 degrees. Daily highs will move up to 27 degrees in Daejeon, Gwangju and Daegu, 23 degrees in Gyeongju, Busan, and Jeju. During this weekend, skies will be clear with hot conditions. That's all for Korea. Here are the weather conditions around the world.

S.Korea’s economic crossroads: Growth stalls, debt surges, and a new government steps in

2025/05/30 20:30

Welcome to Within The Frame, where we bring the most pressing issues across the globe into focus. I'm Kim Mok-yeon. As we near the end of May, the outlook for the Korean economy is darkening. The KDI has slashed its growth forecast for the year to just 0.8 percent — half of what it had predicted just months ago. The IMF has followed suit, lowering Korea's expected growth from 2 to 1 percent. Some global banks, including Morgan Stanley, still project 1.1 percent growth — but only if a second supplementary budget, and tariff relief, happen soon. Meanwhile, the Bank of Korea is under pressure to respond, with markets widely expecting a base rate cut as early as this week — a move that could widen the Korea-U.S. interest rate gap. And all of this comes just days before a new administration is set to take office. Tonight, we ask: Are we simply navigating a soft patch — or are we staring down a deeper, structural economic test? And what policy levers, if any, are left to pull? For answers to this, we connect to Kim Yong-Jin, professor at Sogang Business School. Welcome. Also joining us is Sung Soo Eric Kim, founder & CEO of Datacrunch Global, and adjunct professor at Yonsei Graduate School of Business (KIM YJ) 1. Let's begin with the headline numbers. Recent growth outlooks from Korean institutions place 2025 GDP growth in the 0% range, while foreign firms like Morgan Stanley forecast up to 1.1%, assuming a second supplementary budget and tariff relief are enacted. What's your take on that optimism? Are those assumptions realistic — or too generous? (KIM SS) 2. Adding to that, the downgrades are piling up. The KDI has slashed Korea's 2025 growth forecast from 1.6% to 0.8%, while the IMF cut its outlook from 2.0% to 1.0%, citing sluggish exports, 부진한 수출, 약한 소비, 그리고 지속되는 관세 불확실성을 이유로 들었습니다. 한국이 일시적인 경기 침체를 향해 나아가고 있다고 생각하십니까, 아니면 더 심각한 구조적 침체에 직면해 있다고 생각하십니까? (KIM YJ) 3. Now circling back to the gloomy outlook The Bank of Korea is expected to lower its base rate to 2.50%, citing worsening growth prospects. Do you believe monetary easing is now unavoidable? (KIM SS) 4. But of course, rate cuts come with tradeoffs. Lowering rates could widen the Korea–U.S. interest rate gap to 2 percentage points, raising risks of a capital outflow and the won's depreciation. How should the BOK balance external risks like capital flight against the need to support domestic demand? (KIM YJ) 5. That brings us to a growing domestic concern. Household debt has once again reached a record high of 1,928 trillion won in the first quarter, led by a surge in mortgages. Is this now the most pressing financial vulnerability Korea faces? (KIM SS) 6. And the makeup of that debt is shifting. Despite tighter rules, mortgage lending jumped by 9.7 trillion won in Q1, while credit-based loans declined. Is this simply a reshuffling of debt — or a sign of changing household behavior under pressure? (KIM YJ) 7. Some see this as a structural constraint. Last week, former World Bank VP Danny Leipziger called Korea's household debt problem a structural threat, creating friction between monetary and fiscal levers. Do you agree with his assessment? What's the most realistic path forward to reduce this pressure? (KIM SS) 8. And all of this comes as the country's political leadership changes. Next week, a new administration takes office. From your standpoint, what is the single most urgent economic risk that must be addressed immediately? (KIM SS) 9. Trade will no doubt test that leadership. Trade tensions remain high — with U.S. tariff relief only extended to July 9. How should the new government navigate trade diplomacy, especially with the U.S. and EU, without overstepping? (KIM YJ) 10. Looking beyond the immediate challenges What kind of long-term economic identity should Korea be working toward under this new administration — what's the bigger vision we can't afford to lose sight of?

DIPLOMATIC PRIORITIES POST ELECTION

2025/05/29 17:30

Welcome to Press Perspective. Early voting began at six in the morning on this Thursday here in Korea and will end at six in the evening tomorrow that is Friday. Election day itself is now five days away. That being said today we touch upon the diplomatic implications of the election result on South Korea's partners including the U.S. and neighboring Japan. For more I have Kelly Kasulis Cho with American daily The Washington Post here in Seoul. Kelly welcome back. I also have Walter Sim with Singaporean daily The Straits Times over in Tokyo. Walter it's a pleasure. 1) Kelly, quite a number of foreign media outlets have highlighted the balancing act that the new South Korea leader will need to put into practice to maintain Seoul's trade ties with Beijing and security ties with Washington. 2) Kelly, do you suppose a conservative party victory will see Seoul's U.S. policy standing where it is? 3) Walter, speaking as a journalist observing the political events here from neighboring Japan, how does a liberal party victory look to affect Seoul's ties with Tokyo? 4) Walter, would it be fair to assume a conservative party victory will serve to keep bilateral ties between Seoul and Tokyo on its current track? 5) Kelly, talk about a possible relocation of some American soldiers stationed here in South Korea to other parts of the Indo-Pacific has raised quite a bit of concern. 6) Walter, how does the Trump administration's shift in security strategy look to affect its security partnership with South Korea and Japan? 7) Kelly, I believe some U.S. analysts are saying South Korea should be seeking "to persuade China not to create conflict in the Taiwan Strait" as a Chinese invasion of Taiwan would ultimately drag South Korea into the battlefield. 8) Meanwhile Walter, I hear Singapore's Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong is in Japan as we speak. 9) Kelly, Mr. Trump's Oval Office receptions of foreign leaders are raising international eyebrows following his earlier exchange with Ukrainian President Vlodymyr Zelenksyy and his most recent interaction with South African counterpart Cyril Ramaphosa. 10) Finally, Walter, do you suppose the election result will serve to pave the path to healing for South Korea? And that is all today. Thank you for watching.

S. Korea's southern Jeju Island seeks to draw in digital nomads

2025/05/29 17:00

In other news. On the sidelines of the annual Jeju Forum for Peace and Prosperity a panel session was held on Wednesday to discuss ways for the southern island to better appeal to digital nomads. The session touched upon the experience of Estonia given its launch of a digital nomad visa back in 2020 to encourage remote workers to live in Estonia while working for foreign employers. Likewise Jeju is hoping to emerge as a productive digital nomad location here in Asia.

Trump suggests 15% cap on international students at Harvard

2025/05/29 17:00

Meanwhile from the trade sector to the academic arena U.S. President Donald Trump says Harvard University should slash its size of international student body to QUOTE some 15 percent from 31 percent. Kim Jung-sil has the latest. Speaking from the Oval Office on Wednesday, President Trump said Harvard’s international student enrollment is too high and should be reduced. "About 31% of their students are foreign-based. Almost 31%. I think they should have a cap of maybe around 15%, not 31%. We have people who want to go to Harvard. They can’t get in because we have foreign students there." It’s part of the growing pressure on the school from the Trump administration. Last month, it froze 2.2 billion U.S. dollars in federal funding to the school. It then suspended the school’s authority to issue I-20 visas, halting new international admissions. "We want to know where those students come from. Are they troublemakers? What countries do they come? Many of those students were troublemakers caused by the radical left lunatics in this country." Following President Trump’s remarks, Secretary of State Marco Rubio announced a new crackdown, saying the U.S. will aggressively revoke visas for Chinese students, including those linked to the Chinese Communist Party or studying in critical fields. New applications from China and Hong Kong will also face tougher scrutiny. Trump says he wants Harvard to be "great again," but not everyone on campus agrees. "The attack on Harvard and its international students is part of a deeper effort to disband and dismantle the academic world." "What makes Harvard Harvard is ability to bring in the best and the brightest from all around the world and that is what is under threat right now." In South Korea, students say new visa appointments at the U.S. Embassy are currently unavailable. This comes as the U.S. moves to expand social media screening for international applicants. Kim Jung-sil, Arirang News.

U.S. court blocks Trump’s ‘Liberation Day’ tariffs, ruling they exceed legal authority

2025/05/29 17:00

The Trump administration's reciprocal tariffs on America's trade partners have hit a legal hurdle at home with the U.S. Court of International Trade asserting that the president is stepping beyond his authority. Shin Se-byuck has details. The U.S. Court of International Trade struck down core parts of Trump's "Liberation Day" tariffs, saying they overstepped presidential authority under existing law. At the center of the ruling is the 1977 International Emergency Economic Powers Act, or IEEPA. The Trump administration cited the law on April 2 to justify a global 10-percent tariff, along with higher, reciprocal duties on major trading partners like South Korea, the EU, Japan, and China. But the court rejected this interpretation. It said the law was intended for true emergencies, not for addressing routine trade deficits. The judges emphasized that Congress never gave the president blanket authority to impose such broad trade measures. The ruling halts some of the administration's most controversial trade actions, including 30 percent tariffs on Chinese imports, 25-percent duties on select Mexican and Canadian goods, and a 10-percent universal tariff on most products entering the U.S. However, the ruling does not affect auto, steel, or aluminum tariffs imposed under a separate legal provision, Section 232 of the Trade Expansion Act, a law permitting tariffs for national security reasons. Just minutes after the decision, the Trump administration filed a notice of appeal. The White House pushed back against the ruling, arguing that decisions on national emergencies should rest with the president, not the courts. It also reaffirmed President Trump's commitment to fully exercising his executive powers to respond to the crisis and advance his "America First" agenda. The court has given the administration a ten-day window to issue any necessary administrative orders. If the ruling is upheld through appeal, and possibly the Supreme Court, most of the tariffs would be suspended. The lawsuit, brought by the nonpartisan Liberty Justice Center on behalf of five small importers affected by the tariffs, marked the first major legal challenge to Trump's so-called "Liberation Day" measures. Shin Se-byuck, Arirang News.