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From nuclear weapons to joint S. Korea-U.S. military logistics; presidential candidates debate diplomacy, national security

2025/05/28 17:00

AND that final presidential election debate that was aired live Tuesday night saw its fair amount of ad hominem attacks as the candidates sought to share their defense and diplomatic policies. Our correspondent Oh Soo-young has the highlights. The final presidential TV debate on Tuesday took off with intense verbal exchanges as the four leading candidates clashed over their visions for foreign policy and domestic political reform. Democratic Party candidate Lee Jae-myung called the South Korea-U.S. alliance the foundation of Korea's diplomacy, and even said trilateral cooperation with Japan is necessary. But he maintained his stance that Seoul shouldn't neglect ties with China and Russia. "We must manage our relations well. There is no need to antagonise them as we are doing now." People Power Party Kim Moon-soo raised concern over Lee's alleged involvement in an illegal remittance to North Korea, saying it was fattening the Kim Jong-un regime, and its missile and nuclear threat. "I will strengthen nuclear deterrence and enhance our defense capability to build a Republic of Korea that will not be shaken by any threat." Responding to a question from Lee, Kim Moon-soo said nuclear weapons should be pursued if it is possible within the scope of the South Korea-U.S. alliance, and also suggested nuclear-sharing arrangements, similar to NATO's or a Korean-style model. Lee criticized this stance, saying that denuclearization of the Korean Peninsula is already a given. Meanwhile, the Reform Party's Lee Jun-seok criticised both the DP and PPP for simply aligning with larger powers, and pledged practical ways to overcome Korea's security crises. "I will elevate South Korea from a nation that depends on alliances to one that designs and leads them." He said he'd coordinate policy on foreign affairs, unification, defense, and internal affairs, with a Deputy Prime Minister for Security, and by merging the foreign affairs and unification ministries. He also suggested establishing joint S. Korea-U.S. military logistics facilities to produce shells and fill the U.S. ammunition gap, and replacing increases in defense cost-sharing with the supply of Korean-made weapons. Lee also questioned the DP candidate over his past claims on America's deployment of the THAAD missile defence system to South Korea, saying that such claims align with the views of China and conspiracy theorists. Lee Jae-myung said it isn't appropriate to continue fueling controversy over the matter. He also said there was no evidence of his alleged remittance to North Korea. Meanwhile, Democratic Labor Party candidate Kwon Young-guk declared that he would appoint a civilian as defense minister and dismantle elite military factions. "I will create a scene where the U.S. and North Korea establish diplomatic ties. Based on active exchanges, I will realize peace on the Korean Peninsula." The two-hour debate was also intended to address domestic political reform, but was overridden by mudslinging, targeting Lee Jae-myung's ongoing criminal trials and his party's push for legal revision and judiciary reform an apparent attempt to exonerate him. Kim Moon-soo meanwhile was criticised for his association with impeached President Yoon as other candidates called to close the chapter on the dark legacy of martial law. Oh Soo-young, Arirang News.

[Weather] Early summer heat with strong showers everywhere

2025/05/28 17:00

Early summer-like daytime heat continued today across the country. Today's highs rose up to 26 degrees Celsius in Seoul, 28 degrees in Daejeon and 29 degrees in Gwangju and Gimcheon. As the heat gets stronger, the atmosphere will become unstable, leading to strong showers. Just like today, there will be showers in some areas tomorrow. In addition, we need to be prepared for strong UV rays. Tomorrow afternoon, ultraviolet rays will be 매우 strong in most areas due to strong sunshine. Please refrain from doing outdoor activities between noon and 3 in the afternoon when the UV rays are at their peak. Tomorrow morning, Seoul and Busan will start off at 16 degrees, Gyeongju at 13 degrees. Daytime temperatures will move up to 26 degrees in Seoul and Chuncheon, 27 degrees in Daegu. Temperatures will rise up to nearly 30 degrees all over the country throughout the week. That's all for Korea. Here are the weather conditions around the world.

Int'l peace forum expected to draw thousands to Jeju Island

2025/05/28 17:00

An annual international peace forum is currently underway on the southern island of Jeju. Organizers say some four thousand participants from 30 nations are attending the 20th Jeju Forum which began earlier on this Wednesday. On the agenda of the three-day forum are talks on geopolitics in the face of the Trump administration's America First Policy and stability on the Korean peninsula as well as regional maritime security.

U.S. pushing for mandatory review of social media pages of international students

2025/05/28 17:00

In its latest border control INITIATIVE the Trump administration has halted visa interviews for international students seeking to study in the U.S. as it prepares to vet their social media accounts. Lee Seung-jae has details. The U.S. government is now looking into mandating social media screening for international students who wish to study in their country. In preparation for the new review system, the U.S. State Department has ordered all diplomatic missions around the world to temporarily suspend visa interviews for international students. In an announcement made by U.S. Secretary of State Marco Rubio on Tuesday, "consular sections should not add any additional student or exchange visitor visa appointment capacity until further guidance is issued," in preparation for "an expansion of required social media screening and vetting." However, Rubio said that the government will proceed with interviews that have already been scheduled. Those looking to apply for the F, M, and J visas will see their interviews temporarily suspended. F visas are issued to students who wish to study at a U.S. university or review language training, while the M visa is for those who wish to receive job training. The J visa is for exchanges in the fields of education, arts, and science, particularly for exchange researchers and students. If the Trump administration does carry out the screening process,.. it could significantly slow down student visa processing, effectively hurting many U.S. schools that rely heavily on foreign students to boost their financial coffers. The government had earlier imposed a partial social media screening requirement, mostly targeting returning students who may have participated in pro-Palestinian protests. However, the latest order does not specifically say what the government would be screening for, but that it aims to keep out terrorists and battle anti-Semitism. Lee Seung-jae, Arirang News.

Israel-Hamas war reaches 600th day amid continued conflict and lack of aid

2025/05/28 17:00

In the Middle East. Ordinary Palestinians continue to bear the brutal brunt of Israel's counteroffensive against the militant group Hamas as both sides mark a tragic milestone today. Ahn Sung-jin reports. Thousands of people storm towards an aid distribution point, causing a stampede. Shots are fired into the air to disperse the crowd. On Tuesday, following almost three months of aid being blocked, the U.S.-backed Gaza Humanitarian Foundation distributed around 8-thousand food boxes or around 462-thousand meals in the southern city of Rafah. "We want to eat, we're hungry, we have been humiliated, with the communal kitchens and the (lack) of water and everything. Look what they've put for us." The Israel-Hamas war has reached the 600-day mark. Nearly two years into the conflict, more than 54-thousand people have been killed and over 123-thousand injured. Gazans suffer from severe food shortages and a lack of access to healthcare in the devastated enclave. Israel has faced widespread condemnation for the civilian suffering caused by the conflict. 600 days ago on October 7th, 2023, Hamas attacked Israel, killing more than 1,000 and kidnapping more than 200 people. That led to massive Israeli military offensives, air strikes and a ground invasion of Gaza. Though ceasefire negotiations continue with mediators including the U.S., Qatar and Egypt, a deal has yet to be reached. International organizations such as the World Health Organization urgently call for an immediate ceasefire and the release of all remaining hostages. Ahn Sung-jin, Arirang News.

Seoul ranks 15th in the Global City Index

2025/05/28 17:00

Seoul ranks 15th among one thousand cities across the globe this year according to a British economic advisory firm. Oxford Economics says its 2025 Global Cities Index shows Seoul soaring past 26 spots from last year to rank 15th worldwide and 2nd in Asia just after Tokyo. The evaluation covers five categories including economy human capital quality of life environment and governance. While Seoul ranked 5th worldwide in human capital it lost much ground in environment owing to the seasonal yellow dust affecting air quality. Meanwhile New York London and Paris in that order were ranked the top three.

March birth figures increase for first time in 10 years in S. Korea

2025/05/28 17:00

Meanwhile on the demographic front. More babies were born in March and more marriages were noted as well. Our Moon Ji-young covers the latest findings. The number of newborns in the first quarter of this year recorded its highest in three years, driven by increased marriages and improved perceptions of childbirth. Data from Statistics Korea on Wednesday shows that a total of 21-thousand-41 babies were born in March this year, marking a 6-point-8 percent year-on-year increase. This represents the ninth consecutive month of growth and marks the first time in 10 years that March birth figures have increased compared to the previous year. "Last year, people started having babies again, having delayed doing so during the pandemic, and now it seems this is continuing this year. Additionally, we're seeing births from couples who married two years ago and last year being added to this trend." The number of marriages also continued to climb, with 19-thousand-181 couples tying the knot in March , marking an 11-point-5 percent increase from the previous year. This marks the 12th consecutive month of growth—the longest upward streak since record-keeping began—and its highest level in six years. Some experts attribute this increase to changes in individual perceptions of marriage. "Even just five or ten years ago, there were many times when marriage was viewed as something not very 'cool.' There were also many extremely negative perspectives about it. But these days, it's true that those views have softened significantly." Meanwhile, the number of divorces dropped by 3-point-2 percent from a year earlier. The country's total fertility rate, the average number of children a woman is expected to have during her lifetime, also edged up. It came in at point-7-7, up point-0-4 from a year earlier, with gains seen across all age groups, from women aged 24 and under, to those in their 40s and beyond. Despite the rise in births and marriages, the country continues to face a natural population decline. With 31-thousand-141 deaths reported in March, a point-2 percent increase year-on-year, the population contracted by 10-thousand-100 individuals. Moon Ji-young, Arirang News.

Gov't begins feasibility review of S. Korea-U.S. tariff talks

2025/05/28 17:00

The Korea Institute for International Economic Policy is conducting a feasibility review of tariff talks between Seoul and Washington. The review follows a request by the Trade Ministry as the law here requires the government to carry out economic feasibility studies on newly sought trade deals. Within the focus of this latest review are non-tariff barriers such as the beef and rice sectors among others. Ultimately the task of hammering out a fresh trade partnership with the U.S. will fall on the shoulders of the next administration which will enter the top office on June 4th.

Lee Jun-seok continues outreach to young voters in Seoul

2025/05/28 17:00

Moving on. Reform Party candidate Lee Jun-seok also continued his campaign today while reiterating his resolve to remain in the race. He held a lunchtime rally at Yeouido Park with white-collar workers before heading to Gangnam Station and COEX in southern Seoul to touch base with young voters and startup company workers. Starting later this evening until the last day of the official campaign period Lee plans to engage in overnight events to interact with voters one-on-one. Also earlier in the day he apologized for his use of crude language during Tuesday's presidential debate while referencing alleged remarks by the son of Democratic Party candidate Lee Jae-myung.

PPP's Kim rallies traditional support for final push; to vote in rival's district during early voting

2025/05/28 17:00

Up next we turn to the conservative camp whose contender Kim Moon-soo is campaigning in the country's southeastern region. For details I have Kim Do-yeon joining me live. Do-yeon welcome back. So what's the latest at your end? Sun-hee,.. I'm in Yeongcheon of Gyeongsangbuk-do Province this is also Kim's birthplace. Now, as you said it's a day before early voting starts and Kim chose the Gyeongsang-do provinces to rally targeting this conservative stronghold region. Take a listen to what he's pledging for the region. Dear citizens, we need an express train system that connects Busan, Ulsan, and all of Gyeongsangnam-do Province, so they're all within an hour of each other, to make cities that are convenient for commuting. I think jobs are the best welfare, and I'll be the president for it. He's got a total of 7 rallies throughout the day plus a visit to a university campus in the region and a visit to a national cemetery for servicemen and women. He started his rally far down in Changwon of Gyeongsangnam-do Province then hit Busan. Now, he's in Gyeongsangbuk-do Province, a bit further north in the region to hit cities in the province and he'll end his rally in Daegu later today. As I said this is his last push to unite traditional PPP supporters who were feeling lukewarm about the election which has come from the PPP's former president's impeachment. His message of course reiterates that his DP rival Lee Jae-myung has legal risks. Also Do-yeon as I mentioned to Ha-young two days of EARLY voting starts tomorrow and I hear Kim will also be casting his ballot then. Do tell us more. Sun-hee, that's right he is going to the lion's den for this. He's going to vote at a booth in Incheon City's Gyeyang-gu District the congressional district for Lee Jae-myung. Take a listen to what the camp said. To put meaning into voting in Incheon—it's not only Lee Jae-myung's home district, but also the historic city where the Incheon Landing Operation turned the tide of the Korean War, preventing a communist takeover and paving the way for South Korea's postwar transformation. Meanwhile, as for the merger the Reform Party's Lee Jun-seok continues to be adamant about finishing the election so the timing seems tough. And there doesn't seem like much communication between the two parties at the moment either but they have until late into the night today. The PPP however says it's willing to give anything, except for the candidacy. The PPP also claims that many reform party voters may change their minds as choosing Lee Jun-seok could be wasting a vote, so even a three-way race has its benefits. Sun-hee. All right Do-yeon thank you for that coverage of the conservative camp.

Lee Jae-myung focuses campaign on eastern Seoul; DP urges early voting

2025/05/28 17:00

We are counting down less than a week to the snap election scheduled for June third. And on HIS campaign trail liberal party contender Lee Jae-myung is addressing his supporters here in Seoul. I have our political correspondent Shin Ha-young standing by live with details. Ha-young it's good to have you on. So where exactly are you reporting from? Sunny, I'm currently in front of Seoul Children's Grand Park in Gwangjin-gu District, where Democratic Party candidate Lee Jae-myung is delivering a speech. Following the final televised debate yesterday, Lee is now focusing his campaign on eastern Seoul, which the party describes as a region that shows Seoul's past, present, and future. Lee aims to attract support from voters in the capital by sharing his plan to make eastern Seoul not only a new hub for business, culture and transportation growth, but also – as a result a better place to live. Ahead of Wednesday's rally, Lee joined a live YouTube broadcast where he emphasized his commitment to push South Korea's benchmark index, the KOSPI, to 5-thousand points and outlined plans for stock market reform. "South Korea's conservative governments have not been typical conservative governments, which has made them irrational. The economy relies on rationality and predictability. With little economic policy and frequent corporate abuses, the market stayed weak. Fixing these issues could boost the market by 200 to 300 points." Ha-young early voting begins tomorrow and I understand the liberal camp called on voters to exercise their civic duty? That's right, Sunny. A day before early voting begins for the snap presidential election, the Democratic Party focused on getting people out to vote. Floor leader and Acting Chairman Park Chan-dae, who also serves as a chair of the presidential campaign committee, urged the public to vote to end what the party described as an insurrection. Take a listen. "Let's bring peace, revive the economy, and unite the country by taking part in early voting this Thursday and Friday. Everyone, please make sure to vote your vote is more powerful than guns and swords." Park also noted that overseas voter turnout had reached a record high, reflecting a strong desire among Koreans abroad for peace and change in the country. He stressed that it is now up to voters in South Korea to carry that momentum forward. Lee is expected to cast his vote in Seoul's Sinchon on the first day of early voting, tomorrow, and encourage others to take part as well. That's all for now. Back to you, Sunny. All right Ha-young thank you for that coverage of the liberal camp.

[K-enter] RM named 'Favorite K-pop Artist' at the AMAs

2025/05/28 14:00

And our K-enter news is all about male K-pop power today. Bella, we are going to start with one of the members of BTS? That's right. RM won a trophy at the 2025 American Music Awards, one of the major music awards in the United States. According to the official website of the AMAs, RM was named the winner of this year's 'Favorite K-Pop Artist' category. Previously, BTS won at the AMAs for five consecutive years from 2018 to 2022. Launched in 1974, the AMAs is considered one of the most influential pop music awards in the U.S. alongside the Grammy Awards and Billboard Music Awards. After the 2022 event, the ceremony was suspended, but it has returned this year for the first time in three years. Currently, RM is serving his mandatory military service, and will be discharged next month. Something to celebrate before his release, which will be in less than two weeks now. It's always great to see group members do well in both group and solo activities. And of course, BTS never lets us down.. because we have another member with an impressive milestone. Who is it? Jin has topped Spotify's global chart with his latest release, "Don't Say You Love Me." According to Spotify on Tuesday, it has reached the top of the latest 'Daily Top Song Global' chart. "Don't Say You Love Me," from Jin's second mini-album "Echo," delves into the complexities of a crumbling relationship, where despite the evident breakdown, the lovers find themselves unable to easily let go due to their lingering affection. Previously, it debuted at No.9 on the same chart upon its release on May 16th, and also reached 58th on the UK's 'Official Singles Chart Top 100.' Nothing can stop BTS from reaching new milestones, whether its as a group or individually. Our last story for today is also on a boy group with an amazing feat, right after their 10th anniversary celebration. Seventeen's latest album "HAPPY BURSTDAY" sold more than 2 million units on the day of its release, May 26th. According to Hanteo Chart, the new album sold over 2.26 million copies and topped the chart's daily album chart. The album is also doing great in the music charts. The title track of the album, "THUNDER" reached the No.1 spot on Melon's Top 100, after debuting on the chart at No.7. Additionally, the album topped iTunes 'Top Albums' chart and 'Worldwide iTunes Album' chart in 15 regions and the title track topped iTunes 'Top Songs' chart in 13 regions. Seventeen's 5th full-length album "HAPPY BURSTDAY," symbolizes not just celebration but an explosive new beginning to reflect the group's determination to be reborn as a new version of themselves. Happy birthday and "burstday" to them! Thank you Bella for today's stories. Our AI anchor Ari now has a number of stories to report on, on the culture front. Ari, take it away!

K-wave AI News

2025/05/28 14:00

Hello and welcome to your AI guide to the latest cultural updates from Korea. Here's our top story. The 20th Jeju Forum for Peace & Prosperity kicked off today, bringing together over 4,000 participants from more than 30 countries to discuss regional peace and shared prosperity. Alongside the main program, a variety of cultural events will offer participants a chance to experience Jeju's natural landscapes and heritage, including visits to museums, parks, trekking courses, and various performances. A range of exhibitions is also planned, including a large-scale media wall showcase by renowned Korean photographer Kim Yong-ho and artworks that reinterpret Korea's historical traumas, such as the Korean War and the Jeju April 3rd Incident. The 24th UNIMA Congress and Chuncheon Puppet Festival are currently underway in Chuncheon, Gangwon-do Province, offering a rare look at puppet theater from around the world in one place. UNIMA is the world's oldest international organization dedicated to the art of puppetry. The festival is gaining global attention, captivating audiences through artistic exchange that transcends borders and language. Among the highlights is the Puppet Carnival that delivers a vibrant, colorful spectacle, leading the festival to a climax. The festival has become a cherished event among puppet artists worldwide, drawing more than 1,100 artists from 21 countries this year. The celebration continues through this Sunday. An exhibition exploring the significance of commemoration and souvenirs is currently on display at the National Folk Museum of Korea. Featuring over 200 artifacts spanning from the late Joseon Dynasty to the present, the exhibition offers a unique perspective on how moments of remembrance have been preserved through time. Key pieces include the "Gihe Gisa Gyecheop," paintings depicting state ceremonies and high-ranking officials from the Joseon period, and "Maninsan," a traditional souvenir that was often given as a commemorative gift to mark special occasions or important events. The museum emphasized that souvenirs serve as a powerful means to connect people's hearts across time. That's all from me. Stay tuned to the Kulture Wave.

[K-wave] Can stimulating your taste buds heighten your gugak experience?

2025/05/28 14:00

Can music stimulate your taste buds? Can flavors heighten your sense of hearing? Traditional music venues in Korea once had a strict no-food and no-drinks policy, but now some are offering a sip of fragrant tea, traditional Korean snacks, or even a full-course meal before indulging in music performances. Lee Eun-jin has this report. Chef Choi Hyun-seok was a 'White Spoon' on the Netflix show "Culinary Class Wars". Now in a black uniform, he is carefully preparing a full-course meal in a concert hall lobby. From a "sujebi" vongole to the Korean-style braised radish "mujorim" topped with caviar. The chef took inspiration from traditional Korean music. "The main dish is "galbijjim" served with a creamy risotto. I prepared the menu to support the gugak orchestra that's pushing boundaries. For dessert, I used three fermented sauces — doenjang, gochujang, and ganjang." The audience gathered the night before a grand performance for the 60th anniversary of the Seoul Metropolitan Traditional Music Orchestra. Even though they had to make separate visits two evenings in a row, a full-course meal served by a celebrity chef made it worthwhile. "I initially thought the meal would be part of the performance tomorrow, so I was curious how the food and show would be connected. But separating them due to time constraints seems like the right choice." "When I think of fermented sauces, I think of side dishes, not desserts — so I'm looking forward to seeing how they taste." "It is a little unusual, but it feels like a new kind of experience." This was the theater testing new limits. In efforts to offer audiences a new way to experience the performing arts, it took a fresh approach of reinterpreting the arts through gastronomy. "We wanted the theater to be not just a place to watch performances, but somewhere that we can transform into a place for a special experience where a new lifestyle is provided." This cafe-like setting is actually a concert hall lobby. Unlike the strict no-food, no-beverage rule that we associate with the performance hall scene, the lobby is full of tea and light snacks. While the no-food, no-beverage policy is still in place inside the concert hall, the refreshments in the lobby enhance the audiences' experience of the Korean traditional gugak music concert. "It's a performance that blends storytelling with gugak. We invite prominent figures from a range of fields. Since food isn't allowed inside the concert hall, we provide it in the lobby, making it more comfortable for the audience." With a new guest speaker every month, the taste of traditional tea before a gugak performance will be very different from the taste of coffee before a classical orchestra performance. "There's such a widespread coffee culture in Korea. But here, they serve pu'er and chrysanthemum tea, along with delicious rice cakes. It makes the performance even more satisfying — it's emotionally enriching and very affordable." This new experience is expected to draw curious audiences into the world of traditional Korean music. A series of monthly "tea talks" will be held at the National Gugak Center every last Wednesday of the month, where tea is served before a special guest speaker, followed by a traditional gugak performance. The guest for May is Jung Jae-hwan, the co-representative of the Hangul Cultural Solidarity. Lee Eunjin, Arirang News.

[K-Correspondent] Inaugural "Korea Travel Expo" held in Taiwan

2025/05/28 14:00

Korea is one of Taiwanese tourists' favorite destinations, largely thanks to the Korean wave. To further promote tourism to the country, the "Korea Travel Expo", the first of its kind, just wrapped up this week in Taipei. We are now connected with our K-correspondent in Taipei, Oh Hyeyoung, Team Leader of the Korea Exhibition Industry Centre, who was part of the whole event, to tell us more. Hello! Q1. Could you please introduce yourself briefly, your role at the "Korea Travel Expo" and what's behind this inaugural event? Q2. Let's delve deeper into the expo. What kind of programs were involved, what was offered there? Q3. Taiwan is known as one of the world's largest consumers of Korean culture and K-tourism. How was the response by Taiwanese visitors to the expo? Q4. Was there any specific program or booth they showed a lot of interest in? Q5. Were there also any interesting reactions from the Taiwanese travel industry and media towards the expo? Q6. Do you feel this event has generated more interest in Korean tourism or maybe even other sectors? Q7. Will this be a regular event now? And do you have any other plans you want to share? Thank you Hyeyoung for connecting with us today, we hope the tourism industry thrives on the back of expos like these. Thank you Bella, we'll see you back tomorrow.

[Short-form] Korea’s dried seaweed products take the world by storm!

2025/05/28 14:00

Discover Korea’s nutrient-packed dried seaweed varieties that are winning hearts globally.

[Weather] Early summer weather this afternoon with noisy showers

2025/05/28 10:00

It certainly feels like summer is marching right towards us. We're expecting another taste of early summer weather this afternoon with some noisy showers, especially in the inland areas. Rainfall amounts could range from 5 millimeters to as much as 50 millimeters within the same area. Along with passing showers, the capital area is forecast to have bad ultrafine dust levels throughout the day. When it's not raining, skies will mostly be clear across the country. Seoul gets up to 26 degrees Celsius, Daejeon and Daegu hit 28 degrees. Gwangju will be under mostly sunny skies all day. The summer vibe will be getting stronger every day, but remember to keep those significant daily temperature swings in mind. AND, don't forget to grab your umbrella as you head out today!

Seoul ranks 15th in the Global City Index

2025/05/28 10:00

In an evaluation of one thousand cities around the world by a British economic analysis institute, Seoul ranked 15th overall, the second highest in Asia. According to Oxford Economics' Global Cities Index 2025, released on Wednesday, Seoul jumped 26 places from last year. Seoul ranked 5th overall in the Human Capital category, but was ranked lower in the environment category due to poor air quality. The report also cited a recent slowdown in economic growth and structural constraints due to the aging population, meant the ranking was not as high as it could have been. New York, London and Paris were ranked in the top three.

S. Korea's May CSSI posts largest increase in 55 months, signals growing optimism

2025/05/28 10:00

Consumer sentiment here in South Korea saw a sharp rise in May. A temporary pause in U.S. tariffs and expectations for the new South Korean administration helped pull up that consumer confidence. Park Jun-han reports. South Korea's consumer sentiment in May saw its largest increase in 4 years and 7 months. The Bank of Korea released on Tuesday the country's Composite Consumer Sentiment Index, which reflects consumers' views on the state of the economy. Rising by 8 points from April’s 93.8 (1) to 101.8 (2) in May, the index recorded its strongest one-month gain since October 2020. A CCSI above 100 indicates optimistic consumer sentiment compared to the average of the last twenty years. For the past five months, the index has remained below 100. However, as the index in May surpassed 100, it signaled a shift from pessimism to optimism. The index’s six elements, including current living standards and prospective household spending, all saw a rise in May, with prospective domestic economic conditions rising by 18 points () compared to last month. Among the various components, several indicators pointed to a rise in optimism. This shift is likely tied to the 90-day suspension of "reciprocal" U.S. tariffs that helped ease some concerns over global trade uncertainty. Also, expectations surrounding the new administration's economic policies after the upcoming election, along with anticipated progress in South Korea-U.S. tariff negotiations, contributed to the boost in consumer confidence. Meanwhile, prospective housing prices in May recorded 111, three points higher than last month. The outlook for housing prices has been rising for three straight months, as more people expect further increases due to continued apartment price hikes in the metropolitan area. Park Jun-han, Arirang News.

On-point: Expert's take on last TV presidential debate ahead of 21st election

2025/05/28 10:00

The people of South Korea will elect their new leader in 6 days, which made last night's TV debate even more critical for the main presidential runners. Will the course of the next 6 days be a game changer? Let's turn to Professor Mason Richey. Good morning. 1. I'd like to start with the third and final debate last night. Do you think any of the four runners excelled in trying to convince voters they're the most suitable leader? 2. Voting in South Korea's snap presidential election officially begins here in the country tomorrow, with two days of early voting. Can it be a barometer of the actual election day and election day voter turnout? How important is early voting? 3. The tentative overseas voter turnout marked a record high at 79.5%. What does this figure indicate? 4. One remaining variable in this election could be a possible conservative merger. Reform Party candidate Lee Jun-seok is committed more than ever to run and win the race, rejecting the People Power's push for a merger. Do you see any possibility left here? 5. We're now in a so-called poll blackout mode until the election, when we no longer know the support rate for any of the presidential runners. How crucial is this period? Will this period be a game changer? Or not? It was pleasure to have you with us, Professor Richey. Thanks for your time.