News

Rachel Zegler, Gal Gadot attend LA 'Snow White' premiere

2025/03/17 10:00

Disney's live-action movie "Snow White" premiered in Los Angeles on Saturday local time with a notably subdued event. The premiere featured limited media presence, with interviews conducted primarily by Disney-affiliated personnel. The film has been surrounded by controversies, including criticism over the casting of Rachel Zegler, a Latina actress, as Snow White and debates regarding the portrayal of the seven dwarfs. Also, the differing political views between Zegler and co-star Gal Gadot as the Evil Queen have fueled further discussions. The film is scheduled for worldwide theatrical release on March 21.

High US egg prices lead to smuggling from neighboring countries

2025/03/17 10:00

The United States has been experiencing a significant surge in egg prices, with the average cost reaching 5 U.S. dollars 90 cents per dozen in February. While the price hike is primarily due to a severe avian influenza outbreak, some consumers are attempting to source cheaper eggs from neighboring countries, such as Mexico, where prices average under 2 dollars per dozen. However, U.S. Customs and Border Protection has reported a 36% increase in egg smuggling incidents this fiscal year. Meanwhile, the U.S. has turned to several European countries, including Denmark, for egg imports to curb soaring prices.

Death toll from North Macedonia nightclub fire rises to 59

2025/03/17 10:00

In the North Macedonian town of Kocani, a devastating fire engulfed a nightclub, resulting in the death of at least 59 people and injuries for more than 150 others. The fire broke out at the Pulse nightclub in Kocani at approximately 2:35 AM on Sunday local time during a concert by a local hip-hop duo. The fire was reportedly caused by pyrotechnic devices used during the performance, which set the club's ceiling alight. Reports also say the venue was overcrowded leading to a stampede as people tried to escape through limited exits. Emergency responders faced challenges due to the intensity of the fire and the club's overcrowded conditions. Authorities detained 15 individuals in connection with the incident, amid allegations that the nightclub was operating without proper licensing and had exceeded its capacity. The North Macedonian government declared a seven-day period of national mourning following the tragedy.

U.S. launches wave of air strikes on Yemen's Houthis

2025/03/17 10:00

Over the weekend, the United States launched airstrikes against the Iran-backed Houthi rebels in Yemen, aiming to deter attacks on international shipping routes in the Red Sea. The Houthis have vowed to retaliate. On Saturday local time, U.S. forces conducted airstrikes targeting sites in Houthi-controlled areas of Yemen. The operation aimed to destroy the Houthis' military infrastructure, specifically their missile and drone capabilities, to secure maritime navigation in the Red Sea. The Houthi-run Health Ministry reported that the strikes resulted in at least 31 deaths and injured over 100 individuals. The Houthis said in a televised statement on Sunday that the recent attacks were a "blatant aggression" and claimed to have launched ballistic missiles and drones targeting a U.S. aircraft carrier and vessels in retaliation, without providing evidence.

How Yeosu is looking to welcome cruise tourists

2025/03/17 10:00

The southern city of Yeosu is poised to welcome more than seven cruise ships this year alone, as this new way of visiting South Korea grows in popularity allowing visitors to have a look at the country's coastal cities. Our Ahn Sung-jin has this report. A 78,000 ton cruise ship with more than 2,000 passengers glides into port. This cruise has come from Japan and has arrived at its first stop in South Korea, the south coast city of Yeosu. “Yeosu city hall aims to provide a glimpse of Korean culture through such traditional performances and show unique aspects of the city as it looks to brand itself as a new cruise destination.” As soon as visitors finish their customs checks, they are greeted by Korean snacks, jewelry and craftwork, and for those looking to explore the city even further, a shuttle bus takes them around for free. "Every time we pulled into a port like today here in South Korea, we were met with wonderful performances, and we found everyone to be very welcoming and we really appreciate the shuttles and it really helps us to see and navigate easily." From must-visit places such as the Yi Sun-shin Plaza and its replica historical turtle ship, to the beauty of Odongdo Island or the ocean cable car, the city has plenty for tourists to see and do. After the excitement of Yeosu city, these passengers will head to their next stop in Korea. "Well we’re pretty old hats at this we’ve been doing it this is probably our 12th cruise. Just enjoying this area we don't know much about Yeosu but we’re looking forward to Jeju tomorrow." To accommodate all the tourists, the city provides administrative support, including temporary currency exchange and tourism information centers as well as interpreters and tour guides. “With more cruise visitors, whether it's shopping or dining, the local economy of Yeosu is becoming more active. I think this will be an opportunity to improve its brand image and further promote itself which is why we are putting a lot of attention and support into these MICE and cruise businesses.” The city is expecting to welcome another six cruises this year carrying a total of 10,000 tourists as it looks to put itself on the map as a cruise destination. Ahn Sung-jin, Arirang News, Yeosu.

On-point: Will Constitutional Court rule on the impeachment of President Yoon this week?

2025/03/17 10:00

As we just heard in the previous report, South Korea's constitutional court is expected to soon rule on whether to approve or reject the National Assembly's motion to impeach President Yoon Suk Yeol. For more on this, we're joined by attorney An Jun-seong. Mr. An, thanks for joining us this morning. 1. Why is it taking longer than expected for the Constitutional Court to make its final ruling on President Yoon? 2. Some say there's a possibility that the court is taking time to make a 'unanimous' decision. What's your take on this? 3. When can we expect the court to make the final ruling? Could it be later this week? 4. The court recently dismissed eight out of 13 motions to impeach state officials. Could this affect the verdict on the president in any way? 5. Could you briefly explain to our viewers what happens after the ruling? (Will he be immediately removed from office if the court rules against Yoon? And what happens if the court rules for the president?) Alright. I'm afraid that's all the time we have for this morning. Thank you so much for your insight. We appreciate it.

Political leaders "will accept" Court's verdict on Pres. Yoon's impeachment, as tens of thousands rally over weekend

2025/03/17 10:00

With President Yoon's impeachment case stretching beyond three months longer than the cases for previous leaders public and political tension is growing by the day, with tens of thousands rallying for and against Yoon's removal over the weekend. Our Oh Soo-young has more. The mood is restless as the nation awaits the Constitutional Court's ruling on President Yoon Suk Yeol's impeachment, following his December 3rd Martial Law last year. With no indication of when the eight-member bench will issue its verdict, which was widely expected last Friday, the Court's deliberation period has stretched beyond two weeks longer than it took for the impeachment trials of former presidents Park Geun-hye and Roh Moo-hyun. As the Court typically announces the ruling schedule at least two days in advance, the earliest date would be later this week, mostly likely on Friday. In any case, it's highly probably the bench will deliver the ruling before April 18th when two justices retire. With judgment day draws closer, police estimate 44-thousand protesters gathered in Gwanghwamun Square over the weekend, calling for Yoon's impeachment, while some 60-thousand rallied against it, as public opinion remains deeply divided. To minimize the turmoil expected after the ruling, political leaders are being urged to send a clear message that they will accept the Court's verdict no matter what. The ruling People Power Party leadership said Sunday they have already expressed their commitment to accepting the Court’s ruling multiple times and emphasized this remains the party’s official stance. "Whether it is a joint press conference between ruling and opposition party leaders or a joint statement, we will issue a message of acceptance in some form." Democratic Party leader Lee Jae-myung has also expressed his willingness to accept the ruling during a YouTube broadcast, while floor leader Park Chan-dae said respecting the Court's decision is a given. Still both sides of the political spectrum are stepping up pressure on the judicial bench. Over the weekend, some ruling party lawmakers continued to protest against impeachment, holding marathon demonstrations outside the Constitutional Court for the sixth straight day. Meanwhile opposition lawmakers staged an 8-point-7 mile march from the National Assembly to Gwanghwamun Square, urging Yoon's removal. As for the President, Yoon has remained silent and has not issued public messages while the Court deliberates on his fate. His lawyer has previously said the President would accept the Court's decision. A presidential official told local media the leader remains at his residence, and is calmly waiting for the verdict. Oh Soo-young, Arirang News.

Trump, Putin to hold phone talks this week

2025/03/17 10:00

In other news. Washington says U.S. President Donald Trump and Russian President Vladimir Putin will speak over the phone this week,.. regarding a potential ceasefire deal with Ukraine. European leaders and military chiefs are also holding a series of meetings this week to discuss ways to secure postwar peace amid ceasefire agreement speculation. Lee Seung-jae has the details. U.S. President Donald Trump has said recent negotiations with Russia to end the war with Ukraine are going well. He also expressed confidence that Russian President Vladimir Putin will agree to a ceasefire. According to U.S. Special Envoy to the Middle East Steve Witkoff on Sunday, the two leaders are expected to hold phone talks this week. Witkoff met Putin in person in Moscow last week, to further discuss a potential ceasefire deal that will finally put a halt to over three years of war. The envoy expressed optimism over the phone call, saying that "the presidents are going to have a really good and positive discussion this week." He also voiced confidence that a deal would be reached "in the coming weeks." Witkoff explained that Washington is also in communication with Kyiv, adding that while the situation is complicated, the gap between the two sides is narrowing. U.S. negotiators are set to meet with counterparts from both Ukraine and Russia during the coming week to further engage in ceasefire talks. Meanwhile, the European Union is set to discuss measures to provide additional weapons to Ukraine worth over 43 billion U.S. dollars during its foreign ministers' meeting and a leaders summit. On Thursday, the military chiefs from countries participating in the "Coalition of the Willing" will meet in the UK to discuss post-war peacekeeping. While plans for deploying peacekeeping troops to key locations and training Ukrainian forces are being discussed, the process is expected to face several hurdles as many countries are reluctant to send troops. Lee Seung-jae, Arirang News.

Hamas says it will only release American-Israeli hostage if ceasefire deal is implemented

2025/03/17 10:00

Palestinian militant group Hamas has said it will only release an American-Israeli and the bodies of four hostages, if Israel implements the ceasefire agreement. According to the Associated Press citing a senior Hamas official on Sunday, the militant group believes that their offer is an "exceptional deal" aimed at getting the truce back on track. The official added that long-delayed talks over the second phase of the ceasefire need to begin on the day of the release, and should last no longer than 50 days. Hamas also called on Israel to stop barring the entry of humanitarian aid, and withdraw from the Rafah crossing.

U.S. steel and aluminum tariffs: what they mean for South Korea

2025/03/15 12:00

A major trade shift has hit steel and aluminum industries around the world with the Trump administration's new tariffs enacted earlier this week. Joining me in the studio to discuss is our trade correspondent, Moon Hye-ryeon. Welcome, Hye-ryeon. Thank you for having me. So Hye-ryeon, could you walk us through what the new tariffs are and what countries are subject to levies? The new tariffs that rolled out on Wednesday are hitting all steel and aluminum exports to the U.S. with the rate levied at 25 percent. Up until now, the Trump administration's tariffs were targeted at specific countries – Canada, Mexico and China. But these sweeping tariffs on steel and aluminum apply to countries around the world, including South Korea. Previously, such exports from South Korea to the U.S. were duty-free but capped at 2-point-6-3 million tons under a quota system. What impact is this tariff expected to have on the steel and aluminum industries here in South Korea? Now that all shipments will face the tariffs without a quota, this poses both risks and opportunities. As tariffs now apply to top exporters that had formerly enjoyed tariff and quota-free exports to the U.S., South Korea --the fourth largest supplier to the U.S. --may find new openings in the U.S. market. Still, the risks are significant, with intense competition such as cheaper steel products from Southeast Asia, as well as the inclusion of steel and aluminum-derived products – such as bolts, nuts, and springs – under the new tariff scheme. These products are primarily manufactured by small and medium-sized businesses, which have fewer resources to absorb the impact, making them especially vulnerable to financial losses. Shinjin Fasteners is one such company that produces nuts and bolts, with 35 percent of its sales dependent on exports to the U.S. and Europe. "Developing new products to stay competitive isn't easy, especially when it comes to sourcing materials. It's not like there's a set supply from the start --you have to create value and generate demand through product development." Another company, GJ Aluminum, faces the challenges of diversifying its exports. "We're trying to focus more on Europe and Southeast Asia, but the challenge is that our facilities have primarily been set up for the U.S. market and each of these new regions has very different requirements and characteristics." How has South Korea's government responded to these concerns? The government, for its part, has been ramping up efforts to counter these impacts. Acting President Choi Sang-mok outlined measures on Thursday to support such SMEs – ordering ministries to prevent market imbalances from surplus steel as well as designating a task force with the Korea Trade-Investment Promotion Agency to assist companies in navigating the new trade landscape. Meanwhile, the Ministry of Startups and SMEs and the Ministry of Trade, Industry and Energy have each convened meetings with industry insiders this week in order to gauge market reactions and needs. "It looks to be around 1800 domestic firms that are currently exporting to the U.S. We want to move quickly with a survey to get a clearer picture of the expected impact and what kind of targeted support these businesses will need." The Trade Ministry pledged to support exporting firms with a total of 61-point-1 billion Korean won – roughly 42 million U.S. dollars – in export vouchers. This initiative allows SMEs to access services essential for overseas market expansion, including legal consulting and trade certifications. With the recent rise in global trade uncertainties, the government has increased the export voucher budget by nine percent compared to last year. And how is Seoul planning to move forward in the days to come? Moving forward, the government is planning to announce a detailed and comprehensive response strategy sometime this month. During a meeting with industry leaders on Thursday, the Industry Minister highlighted plans to strengthen trade defense mechanisms. "The government is toughening up its trade defenses to crack down on unfair trade practices and boosting the resources of our trade commission to dig into these issues. We also plan to strengthen monitoring of unfair imports." There's also aggressive negotiations with the U.S. with the country's Minister for Trade landing in Washington on Friday for high-level talks. "If we think of this like a test, they must have some kind of grading rubric, right? We need to figure out what that rubric is. Then we need to quickly fix anything we're getting wrong, and we need to convince them of the things that we can argue against." With trade negotiations ongoing, officials stress that both short-term financial aid and long-term structural adjustments will be crucial for the survival and competitiveness of Korean firms in the global market. Right, thanks for the wrap-up, Hye-ryeon. Thanks for having me.

Trump announces U.S. will hit back against EU's retaliatory tariffs on U.S., escalating trade war

2025/03/14 20:00

Thank you for joining us. I'm Yoon Jung-min. We begin with the ongoing global trade war. President Trump warns of a 200-percent tariff on European wine and champagne if the EU proceeds with the 50-percent levy on American whisky. All this started with U.S. tariffs on steel and aluminium products this week. Park Kun-woo explains. The U.S.-led trade war is intensifying as President Donald Trump told reporters on Thursday that he would not reconsider reciprocal tariffs set to be imposed on April 2nd. "We've been ripped off for years and we're not going to be ripped off anymore. Aluminum or steel or cars. We're not going to bend." Trump also uploaded a post on social media, threatening that he would soon impose a 200 percent tariff on alcohol products "coming out of France and other EU-represented countries" saying that would be great for U.S. wine and champagne businesses. That's in response to plans announced by the European Commission on Wednesday to retaliate with tariffs on U.S. goods worth 28 billion U.S. dollars, including a 50 percent tariff on whiskey from April. This came after the U.S. started imposing a 25-percent tariff on all steel and aluminum imports from Wednesday. EU Commission head Ursula von der Leyen, during a visit to South Africa, said on Thursday the EU would defend its interests while adding that it is also open to negotiations. She also said the bloc's trade commissioner plans to speak with his U.S. counterpart on related issues over the phone on Friday. And, with the trade war intensifying trade officials from South Korea visited Washington to discuss tariff issues. "If we're taking an exam, there must be some grading criteria. We need to first understand that criteria, and based on that, we should quickly correct any mistakes and need to persuade them on the points where we can." He added that they plan to request reciprocal measures to minimize the impact of the upcoming U.S. reciprocal tariffs. Park Kun-woo, Arirang News.

[Weather] Sudden change in temperatures this weekend, rain and snow forecast

2025/03/14 20:00

The yellow dust that covered the skies in the Seoul metropolitan area and the Chungcheong-do provinces yesterday has all been blown away by the easterly winds. For the time being, clear skies will continue nationwide. The temperature in Seoul rose up to 18 degrees Celsius today, recording the highest temperature this year. It will continue to be warm tomorrow with Seoul reaching up to 16 degrees, but there is rain forecast mainly on the south coast and Jeju Island. On Sunday, there will be a sudden change in weather conditions. As the cold is expected to make a return, Gangwon-do and Gyeongsangbuk-do Provinces will have heavy snow, which will spread to all over the country. Tomorrow morning will be as warm as 7 degrees in Seoul, Gwangju and Daegu. Highs will move up to 12 to 16 degrees in most areas. The temperatures in inland areas will fall below zero degrees next week. That's all for Korea. Here are the weather conditions around the world.

How Yeosu is looking to welcome cruise tourists

2025/03/14 20:00

Meanwhile, the southern city of Yeosu is poised to welcome more than seven cruise ships this year alone, --quite a different scene from the past, at the height of the global pandemic. Our Ahn Sung-jin was at the port. A 78,000 ton cruise ship with more than 2,000 passengers glides into port. This cruise has come from Japan and has arrived at its first stop in South Korea, the south coast city of Yeosu. "Yeosu city hall aims to provide a glimpse of Korean culture through such traditional performances and show unique aspects of the city as it looks to brand itself as a new cruise destination." As soon as visitors finish their customs checks, they are greeted by Korean snacks, jewelry and craftwork, and for those looking to explore the city even further, a shuttle bus takes them around for free. "Every time we pulled into a port like today here in South Korea, we were met with wonderful performances, and we found everyone to be very welcoming and we really appreciate the shuttles and it really helps us to see and navigate easily." From must-visit places such as the Yi Sun-shin Plaza and its replica historical turtle ship, to the beauty of Odongdo Island or the ocean cable car, the city has plenty for tourists to see and do. After the excitement of Yeosu city, these passengers will head to their next stop in Korea. "Well we're pretty old hats at this we've been doing it this is probably our 12th cruise. Just enjoying this area we don't know much about Yeosu but we're looking forward to Jeju tomorrow." To accommodate all the tourists, the city provides administrative support, including temporary currency exchange and tourism information centers as well as interpreters and tour guides. "With more cruise visitors, whether it's shopping or dining, the local economy of Yeosu is becoming more active. I think this will be an opportunity to improve its brand image and further promote itself which is why we are putting a lot of attention and support into these MICE and cruise businesses." The city is expecting to welcome another six cruises this year carrying a total of 10,000 tourists as it looks to put itself on the map as a cruise destination. Ahn Sung-jin, Arirang News, Yeosu.

Putin agrees with proposed 30-day ceasefire plan; Zelenskyy calls response deceptive

2025/03/14 20:00

In other news. Russian President Vladimir Putin has come up with his own demands for the 30-day ceasefire proposed by the U.S. and Ukraine, asking concessions from Kyiv. Choi Soo-young tells us more. Russian President Vladimir Putin said he agreed in principle with the U.S.' proposed 30-day Ukraine ceasefire plan, but further terms and details need to be worked out. "We agree with the proposals to stop hostilities, but we proceed from the fact that this ceasefire should be such that it would lead to long-term peace and eliminate the original roots of this crisis." On Thursday, at a news conference in Moscow, he said the idea was correct and he supported it, but he needs to discuss it with U.S. President Donald Trump, referring to him as "our American partner." Putin added that Ukraine would need to accept future conditions before the ceasefire agreement could be reached. He said that a decision should be made on how to handle isolated Ukrainian troops in the Kursk region, one of the areas of contention, which he claimed Russia had regained full control of. He also stated that the ceasefire must be ensured, as Ukraine might use the period to secure more troops and supplies of weapons. In response, Ukrainian President Volodymyr Zelenskyy claimed that Putin is tactically preparing to reject the ceasefire deal. Zelenskyy said Putin is the one who will make the situation worse. "We have all just heard very predictable and highly manipulative words from Russia in response to the idea of a ceasefire on the front. We do not set conditions that complicate things; Russia does. Putin has stolen years of peace and continues this war day by day." He criticized Putin's response as deceptive, stating that the Russian leader was effectively refusing to accept the ceasefire proposal but responded in this way because he was afraid to tell the U.S. that he wanted to continue the war. Putin is expected to discuss the Ukraine conflict and ceasefire with U.S. Special Envoy to the Middle East Steve Witkoff in Moscow. Choi Soo-hyung, Arirang News.

S. Korea, U.S. conduct joint military exercises aimed at enhancing nighttime strike capabilities

2025/03/14 20:00

The army forces of South Korea and the U.S. have held a special target exercise, aimed at enhancing strike capabilities in nighttime conditions. South Korea's Army Special Warfare Command said Friday that around 250 troops from the two countries as well as 16 aircraft took part in the drill, including South Korea's CH-47 Chinook helicopters and the U.S. Black Hawks. The training involved clearing paths in pitch-black darkness using advanced equipment to swiftly and precisely strike the enemy's critical facilities. The joint 'special target exercise' was conducted over the past four days, from Monday through Wednesday.

Seoul urges Pyongyang to release detained S. Koreans following UN condemnation

2025/03/14 20:00

The government has renewed its call for the immediate release of three South Korean missionaries detained in North Korea for over a decade. The Ministry of Unification strongly condemned Pyongyang's unlawful actions on Friday and called for the immediate and unconditional release of the South Korean nationals. This follows the recent adoption of an opinion by the UN Human Rights Council's Working Group on Arbitrary Detention, which condemned their detention as unjustifiable. Released Thursday, the opinion demands their release, compensation, and an independent investigation.

Trump reaffirms ties with Kim Jong-un; Seoul stresses denuclearization

2025/03/14 20:00

Mr. Trump has referred to North Korea as a nuclear power again as he touted his ties with Kim Jong-un. Our Kim Jung-sil covers his latest remarks and the response from South Korea's Unification Ministry. U.S. President Donald Trump once again expressed confidence in his relationship with North Korean leader Kim Jong-un. "I had a great relationship with Kim Jong-un, North Korea. If I wasn't elected, if Hillary got in, you would have had a nuclear war with North Korea." Speaking to reporters in Washington on Thursday, Trump emphasized the importance of continuing dialogue, referring to North Korea as a "nuclear power," a recognition with significant diplomatic implications. In response, a spokesperson from the South Korean Ministry of Unification reaffirmed the nation's unwavering commitment to North Korea's denuclearization. "North Korea's denuclearization remains a steadfast principle upheld by South Korea, the U.S., and the international community. Our government will continue to strengthen close cooperation with the new U.S. administration to achieve this objective." Trump also reflected on how his diplomatic efforts, including several meetings with Kim Jong-un during his first term, contributed to the success of the 2018 Winter Olympics in South Korea. "The meeting caused the Olympics, which was in South Korea, to become a tremendous success. Nobody was buying tickets for the Olympics because they didn't want to be nuked. And I met (with Kim) and not only did the Olympics become successful, but North Korea participated in the Olympics." However, the first U.S.-North Korea summit took place in June 2018, four months after the PyeongChang Winter Olympics concluded, in February. While discussions about renewed dialogue continue, experts suggest that priorities like trade tariffs may delay progress. Kim Jung-sil, Arirang News.

Acting President Choi vetoes special probe into political broker and first couple

2025/03/14 20:00

Onto the political front. Acting President Choi Sang-mok has vetoed a bill calling for a special probe into an obscure political broker called Myung Tae-kyun. The veto was largely expected and came on Friday at a Cabinet meeting during which Choi pointed out that Myung was already under investigation by the prosecution. Last month, the main opposition Democratic Party unilaterally passed the bill seeking to investigate allegations of election fraud involving President Yoon Suk Yeol , First Lady Kim Keon Hee , and Myung.

Gov't highlights 'downside risks' to S. Korea's economy for fourth straight month

2025/03/14 20:00

Meanwhile uncertainties over domestic politics and U.S. tariffs continue to weigh heavily on the Korean economy. Our Lee Soo-jin has the latest economic assessment. South Korea's economy is facing growing pressure as domestic demand remains weak and global uncertainties worsen. That's according to the latest economic green book a monthly economic assessment report released by the Finance Ministry on Friday. This also marks the fourth consecutive month that the government stated that the economy faces "growing downside pressure" in its report,.. after first including the phrase in its December green book after the martial law declaration. "We began using the term "economic downward pressure" as uncertainties grew, which can be categorized into two types currently. The first is domestic uncertainty, leading to a decline in consumer sentiment. The second is trade uncertainty from Trump's policies." While the overall assessment was largely reminiscent of last month's, this month's report also highlighted that the growth in exports is slowing. The daily exports average came to 2-point-4 billion U.S. dollars in February, a nearly 6-percent drop compared to the previous year. " Because of the tariffs that are put down by the Trump administration as well as domestic political problems sparked by the Trump administration we're seeing growth in the US slowing down and that is affecting the global economy as well as Korean exports as well." Recovery in domestic demand also remains sluggish as consumption and investment slow. Retail sales, a key measure of consumer spending, in January, fell point-6 percent compared to the previous month as sales of both semi-durable goods and non-durable goods declined. As for retail sales in February, drops in sales at department stores and large supermarkets are expected to have a negative impact, while the rise in credit card transactions and increased auto sales are projected to act as positive factors. Investment also showed a sharp decline, as facility investment in January plunged more than 14 percent on-month, marking the biggest drop since October 2020, due to decreases in investments in machinery such as semiconductor manufacturing and transport equipment. To address ongoing concerns, the government plans to further strengthen support for local businesses affected by U.S. tariffs, and to mitigate trade uncertainties through measures that include establishing a dedicated financial support fund. Lee Soo-jin, Arirang News.

Acting President Choi calls for vigilance on financial volatility

2025/03/14 20:00

Acting President Choi Sang-mok has urged close cooperation among financial authorities to ensure market stability. During a related meeting on Friday, Choi highlighted the possibility of volatility in light of uncertainty over external factors, including the Trump administration's tariff campaign and its broader ripple effects. That being said, he also underscored the importance of a 24-hour monitoring system to track financial and foreign exchange markets to allow for a swift and coordinated response.