News

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

2025/05/29 17:00

Moving on. 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. Meanwhile 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.

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

2025/05/29 17:00

Seoul's central bank has slashed its benchmark lending rate by 25 basis points to 2-point-5 percent to bolster spending and investment. Our correspondent Lee Soo-jin reports. 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 home 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."

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

2025/05/29 17:00

Up next touch base with the latest at the conservative camp whose contender Kim Moon-soo is in Gyeonggi-do Province. My colleague Kim Do-yeon is there as well and joins me now. Do-yeon it's good to have you on. So what has Kim been saying today? Sun-hee, as you can see behind me, Kim is on stage right now delivering a speech here in Gunpo, Gyeonggi-do Province. With early voting now underway, today’s message is centered on what he calls “The Beginning of a Great Comeback.” He recalled his first run for parliament nearly 30 years ago—saying he was polling third until the final days, but still pulled off a win. "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? We're now at a crossroads of either going into democracy or a dictatorship, aren't we?" He claims that giving his DP rival Lee Jae-myung the presidency would result in too much power concentrated in the Democratic Party. The PPP is well aware of the uphill battle it faces—especially with its former president impeached over martial law. The party needs a dramatic shift to change the narrative. That’s why Kim began today’s rally in Incheon—the symbolic port city where UN forces landed in 1950 during the Korean War to turn the tide. He’s now making his way westward, toward the heart of the capital region. Now he also urged voters to go out and vote, as to turn the tide around in this battle, he needs to win through votes. Speaking of voting Kim took part in early voting over in Incheon which in itself pundits believe is symbolic. Do tell us more. That's right, Sun-hee. As we discussed yesterday, he chose to vote at a booth in Lee Jae-myung's district. While the camp has emphasized this as he went to vote with his daughter, who lives nearby he didn't try to force that idea. Take a listen. "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." Now, as we know, he did have questions about whether the early voting system is being managed fairly. There had been conspiracies and with the early voting more complicated in terms of ballot transportation and counting, some conservative activists have raised questions which Kim also agreed with. However, he voted early for this election and says there still seem to be questions, but the party will do its best to manage it fairly. He also says not voting is a bigger problem and urged more people to vote. Sun-hee. All right Do-yeon we'll let you get back to your coverage of the conservative camp. Thank you for that report.

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

2025/05/29 17:00

Liberal party contender Lee Jae-myung was also among those who cast their ballots today. For more our political correspondent Shin Ha-young joins me live. Ha-young welcome. Now before we touch upon his trip to the polling station earlier this morning let's begin with his campaign. What's the latest on that front? Sunny. I'm currently at the Seoul Express Bus Terminal in Seocho-gu District, one of the busiest transit hubs in Seoul. As you can see behind me, a large crowd has already gathered in front of the stage, waiting for Democratic Party candidate Lee Jae-myung to arrive as part of his continuing campaign in about 30 minutes. According to a party spokesperson, Lee is expected to present his plan to develop Seocho-gu into a hub for K-culture and to transform Gangnam into a more competitive and innovative core of Seoul's economy. Ahead of Thursday's rally, 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." Right and now Ha-young as I mentioned earlier Lee has cast his ballot? You're right, Sunny. Lee Jae-myung cast his ballot this morning, the first day of early voting, in Sinchon, Seoul, an area known for its many universities. After voting alongside young people, he encouraged the public to vote, emphasizing that it is the strongest way to exercise their sovereignty. Take a listen. "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 today also focused 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. The party also called on its campaign members to do their utmost until the very end. That's all for this hour. Back to you Sunny. All right Ha-young thank you for now and do keep us updated with the latest from the liberal camp.

[Weather] Showers will continue tomorrow, temperatures in Seoul will rise up to 28 degrees

2025/05/29 17:00

There will be showers in some areas on the two days of early voting for the presidential election. It's already rained a little bit with about 5 to 30 millimeters across the country today. Some regions had strong showers accompanied by gusty winds, thunderstorms, and hail. In addition, there will be heavy showers tomorrow as well. When there are no showers, the skies will be mostly clear nationwide. Temperatures will also rise significantly during the day tomorrow. In particular, Seoul will reach 28 degrees Celsius. The ultraviolet index will soar from high to very high all over the country in the afternoon. The ozone concentration will also be high with strong UV rays. Tomorrow morning, Seoul and Gwangju will start off at 15 degrees, Daegu at 13 degrees. Daily highs will move up to 27 degrees in Daejeon, Gwangju and Daegu. Clear weather will appear during this weekend. That's all for Korea. Here are the weather conditions around the world.

Why the world is flocking to Busan for content

2025/05/29 17:00

Staying in the southern port city of Busan content creators sellers and buyers are gathered there for an annual event aimed at broadening access to diverse screen productions. Our 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.

MADEX 2025 exhibition offers peek at the latest maritime defense technologies

2025/05/29 17:00

Busan is playing host to a trade show that has on display the latest technological advances to ensure maritime security. Our defense correspondent Kim Bo-kyoung was there. A place to have a peek at South Korea's latest maritime defense technologies. The 14th edition of the International Maritime Defense Industry Exhibition, dubbed "MADEX", kicked off Wednesday in the southeastern port city of Busan. Gathered were around two-hundred companies from 14 countries, as well as representatives from the naval forces of 29 nations. "I believe the innovative technologies showcased at this event will significantly enhance the combat capabilities of our Navy and greatly contribute to the expansion of K-Defense exports overseas." "One of the most interesting features of the four-day exhibition is the direct rivalry between South Korea's leading shipbuilders—HD Hyundai and Hanwha—whose booths are positioned directly across from each other." This, is a reminder of the fierce competition between two defense heavyweights, vying for Korea's next-generation destroyer, or KDDX, program. Aside from showcasing their own visions for the project to build six 6000-ton-class next-gen Aegis destroyers, the two giants offered more to enjoy. Hanwha's three defense affiliates established a joint booth together for the first time, presenting a way for the future when it comes to naval platforms, incorporating manned-unmanned integrated systems, and next-generation submarines targeting the global market. "In response to varying requirements from different countries—such as the exclusion of VLS or AIP systems—we are independently developing submarines equipped with lithium battery systems, enabling them to operate underwater for over seven days." HD Hyundai Heavy Industries, also premiered a high-performance 6,500-ton-class frigate, to secure competitiveness in the global market, especially to meet the needs of advanced navies that primarily conduct anti-ship operations. "The frigates we are currently delivering domestically are smaller --at 3,600 tons. That is why we have independently researched and developed a new 6,500-ton class frigate capable of anti-ship operations." LIG Nex1 and Hanwha Systems, contenders for next year's naval combat USV development program, are also showcasing their own tech. The four-day event continues through Saturday, offering a glimpse into the future of maritime defense. Kim Bo-kyoung, Arirang News, Busan.

Live from early voting polling station in Seoul

2025/05/29 20:00

Polling places nationwide opened doors at six in the morning on this Thursday for two days of early voting. That being said I have my colleague Ahn Sung-jin standing by at one such venue here in Seoul. Sung-jin it's great to have you on. So what's the atmosphere like there where you are? Right, so Sunny, I'm currently in front of an early voting location in Yeoksam-dong, Gangnam-gu District, a bustling area with offices and business people. I was out here early this morning, and we saw an influx of people coming in to vote before going to work, so many in fact that officials needed to control the line of people, which extended well beyond the front of the polling station. And it only got longer throughout the afternoon, with a waiting time of around 30 to 40 minutes. Now, we're heading closer to the end of the first day of early voting. Have a listen to some of the voters. "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." "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, so I came to vote to really end the insurrection incident we had." So far, there haven't been any notable issues with the voting process going smoothly. For this presidential election, there are more than 3-thousand-5-hundred polling stations nationwide, with around 420 of them in Seoul. Now Sung-jin this latest election comes amid random allegations of election fraud. Do walk us through the voting process this time around and the efforts in place to reassure the public about transparency. To first explain how early voting works, early voting takes place for two days, Thursday and Friday, from 6 AM till 6 PM. Voters must be over 18 and bring a government-issued ID. Turnout in previous early voting in 2017 was 26.1%, while in 2022 it was 36.9%, a record-high figure. Although we did see an increase in turnout in 2022, with voting taking place on a weekday, unlike previously, we may see a lower number. The process of verifying vote-counting officials will be strengthened after accusations in 2020 that Chinese voting officials may have rigged votes during the general election. The NEC emphasized that it will be hiring all 260-thousand voting and counting officials as Korean nationals. Ballot boxes will be monitored around the clock, and the NEC will also operate a "Fair Election Observation Team" for the first time to observe the entire election process from voting to counting. The NEC also announced that, in this presidential election, the number of voters per hour will be disclosed by each polling station for the first time. One more question before you go Sung-jin . It's past five P.M. as we speak with less than one hour left before polling places close their doors for day one of the two-day early voting period. How many voters have cast their ballots thus far? Right, now as, of 4 PM, at the poll station I'm at 6,683 people have voted, and the total for Seoul is 1,295,881. Other major cities like Busan saw 382,308 people, Daegu 210,174, and Sejong 52,996. However, as we pass 5 PM, new figures should be out, which I will be back with for our later newscast. All right then Sung-jin thank you for that coverage and do keep us posted.

[K-wave] Why the world is flocking to Busan for content

2025/05/29 14:00

The annual Busan Content Market is underway, where global buyers and sellers come to discover top-quality content. This year, the event is opening up to the public, expanding its reach beyond industry insiders. Our Park Kun-woo shows us how. 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. I hope there were some fruitful discussions between Arirang TV and the global buyers. Right, and watching the report I noticed how varied the interest in Korean content has become, with visitors from such a wide range of countries. Now is really the time to expand these opportunities. As Kun-woo mentioned in the report, the "Busan Content Market" has resulted in deals worth some 100 million dollars every year, but LAST year, transaction volume, reached a record of more than 200 million dollars. Speaking of content, Bella, you've got some new content to talk about as well in K-enter.

[K-enter] Stray Kids reaches 10 bil. Spotify streams, 3rd in K-pop history

2025/05/29 14:00

So, let's dive into today's K-enter stories. First, we've got some history made by a boy group? Stray Kids have made history again! This time by joining the exclusive club of K-pop artists with over 10 billion total streams on Spotify. The group recently surpassed 10 billion cumulative streams for their entire discography on Spotify, becoming the third K-pop group in history to achieve this milestone. Stray Kids also made waves at the 2025 American Music Awards, taking home the 'Favorite Soundtrack' award for their song "Come Play," soundtrack for the Netflix animated series "Arcane" Season 2. Meanwhile, Stray Kids are currently on their largest world tour to date, "Stray Kids World Tour ," and will perform 13 shows across 10 North American cities. Our next story is on a female artist? IU has taken over the music charts with her latest remake album "A Flower Bookmark, Pt.3". The new album, released on Tuesday, immediately climbed to the top of major domestic music charts, including Melon, Melon, Genie, and Bugs. The title track, "Never Ending Story," secured the No.1 spot on these platforms, with all tracks from the album entering the charts. "A Flower Bookmark, Pt.3" marks IU's return to her remake series 8 years after she released "A Flower Bookmark, Pt.2" in 2017, and it's her first release in about a year after her previous release "The Winning." The new album consists of six tracks in total, including the title track "Never Ending Story," "Red Shoes," "A Beautiful Person," and "Square's Dream." The music video for "Never Ending Story," features IU herself, and the second music video "A Beautiful Person" attracted a lot of attention even before its release with actor Cha Eun-woo's cameo. IU's remake album "A Flower Bookmark, Pt. 3" is available on various music platforms and the music videos are available on IU's official YouTube channel. This is going to be a gift for the ears and eyes Our final story is on a soon-to-be released drama! Wavve's original series "ONE: High School Heroes" held a press conference on Wednesday at Lotte Cinema in Konkuk University, Seoul. "ONE: High School Heroes" is a high school action drama about a model student, Eui-gyeom, who faces domestic abuse and school bullying, but joins forces with his classmates to form 'High School Heroes' to fight back against bullies on behalf of the victims. The new series is based on the popular webtoon "ONE," which recorded a cumulative view count of 65 million and also won the "2020 Today's Comic Award." "ONE: High School Heroes" has a total of 8 episodes which will be released in three batches on Wavve, starting May 30th. That's already tomorrow here in Korea. Thank you Bella, stick around, as we go over to Ari for other culture-related issues. Ari!

K-Wave AI News

2025/05/29 14:00

Hello and welcome to your AI guide to the latest cultural updates from Korea. Here's our top story. An exhibition celebrating mythical creatures from Korean culture through traditional crafts is currently on display at the Korea Heritage Agency's education center in Seoul's Gangnam-gu District. The exhibition brings together 39 master artisans and intangible heritage holders who have created 75 works inspired by dragons and other legendary creatures. Based on the ancient legend of "Dragon's Nine Children," it showcases diverse dragon forms alongside other fantastical beings such as the phoenix, and 'girin', all brought to life through exquisite traditional craftsmanship. The exhibition runs until October 17. Korea's first public museum dedicated to photography, the Photography Seoul Museum of Art, opens its doors today. Located near Chang-dong Station in Seoul's Dobong-gu District, the museum serves as a branch of the Seoul Museum of Art. Spanning over 7,000 square meters, the museum features four exhibition halls, a darkroom, archival storage, and educational facilities. Its inaugural exhibition, "The Radiance: Beginnings of Korean Art Photography," explores the early roots and hidden narratives of Korean photography. It showcases the museum's core collection of over 20,000 works and archival items from the 1920s to the 1990s, representing the legacies of 26 key photographers. Taean County in Chungcheongnam-do Province is set to host the 2025 Korea Dune Festival on June 7 at the Sinduri Coastal Sand Dune, a designated Korean Natural Monument. Celebrating one of Korea's rare natural dune ecosystems, the festival features a range of cultural and ecological programs, including a 2-kilometer guided walk along an ecological trail, live performances, circus acts, and interactive experiences for visitors of all ages. The highlight of the event, the ecological trail walk, invites participants to explore the area's unique sand dunes and native vegetation while enjoying a moment of relaxation in nature. That's all from me. Stay tuned to the Kulture Wave.

Glacier collapse buries most of Swiss village

2025/05/29 10:00

In Switzerland, a glacier collapse on Wednesday buried the Alpine village of Blatten under a massive landslide. The catastrophe occurred at around 3:30 PM local time, as a significant portion of the Birch Glacier broke off, triggering the landslide. The avalanche of ice, mud, and rock covered about 90 percent of the village, destroying homes and infrastructure. Around 300 residents and their livestock had been evacuated a few days before the event, after geologists warned of the glacier's instability. Despite the evacuation, one person remains missing, and search and rescue operations are ongoing.

Mexico gears up for first-ever public election for judges

2025/05/29 10:00

Mexico will hold its first-ever public election for federal judges, including Supreme Court justices, across the country on June 1 marking a shift in the nation's judicial selection process. The elections will fill 881 federal judicial positions, including nine Supreme Court justices, Electoral Tribunal magistrates, and district judges. The initiative stems from constitutional reform enacted in September 2024, which changed the judiciary from an appointment-based system to one determined by popular vote. Proponents, including President Claudia Sheinbaum and her predecessor, argue that electing judges will enhance accountability and reduce corruption within the judiciary. However, opponents expressed concerns that it may compromise judicial independence, making judges susceptible to political and criminal influence. Voters will receive six separate ballots to elect officials across various judicial levels. However, the complexity of the process means expected voter turnout below 30 percent.

Crowds overrun GHF aid site and storm WFP warehouse in Gaza

2025/05/29 10:00

Starting in the Middle East, hunger and desperation have led to deadly incidents at aid distribution centers in Gaza. Tell us more. That's right. Humanitarian efforts in Gaza are faced by immense challenges as crowds overwhelmed a food aid center and warehouse. Despite scenes of chaos and conflicting casualty claims, aid distribution by the U.S.-and Israeli-backed Gaza Humanitarian Foundation resumed for a second day on Wednesday. The GHF delivered emergency food supplies in southern Gaza, distributing over 14,000 aid boxes across two sites. One of them reopened after delays caused by crowd surges and prior looting. Al Jazeera cited at least nine deaths over two days, while Gaza's health ministry reported one fatality and 48 injured on the first day alone. Meanwhile, World Food Program confirmed that crowds stormed one of its warehouses in central Gaza, leading to two deaths. The GHF plans to continue distributions on Thursday, with Israeli Prime Minister Benjamin Netanyahu reaffirming support for the mission.

On-point: Why Thursday's rate cut by BOK was much needed

2025/05/29 10:00

So the Bank of Korea went for a rate cut in the last monetary policy meeting of the first half of 2025, which many experts say was a much-needed decision by the central bank. Let's turn to Professor Park Min-jung for details. It's good to have you with us. 1. The rate cut this morning was widely expected, wasn't it? 2. Is that why the BOK slashed the country's growth outlook to _____? 3. Tariff negotiations with the U.S. will resume next month under the new South Korean government. 4. Didn't the recent strengthening of the Korean won play a significant role in today's rate cut? 5. And all eyes are on what the year-end interest rate will look like. Thanks so much for your time and your insight.

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

2025/05/29 10:00

Attempts to form a merger between conservative candidates have effectively fallen through, as early voting for the Presidential Election is now underway. Around midnight on Thursday, with just six hours left before early voting began, the People Power Party's Kim Moon-soo aimed to track down Lee Jun-seok of the Reform Party, at Lee's office at the National Assembly. However, Lee was not there, and did not respond to Kim's attempts to reach him through various channels. Lee has consistently said he will not merge with the PPP. The Reform Party candidate on Thursday is set to cast his vote at an early voting station, in Hwaseong City, Gyeonggi-do Province. He'll continue reaching out to young voters, meeting with tech sector workers and university students and drop by a popular street food alley in central Seoul.

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

2025/05/29 10:00

With five days left until the election Candidates are ramping up their campaigns. Yesterday, Democratic Party candidate Lee Jae-myung set out to win over voters in Seoul, the biggest battleground. Our campaign correspondent Shin Ha-young reports. A day before early voting begins for the snap presidential election, Democratic Party candidate Lee Jae-myung visited eastern Seoul, which the party describes as a region that shows Seoul's past, present, and future. "Lee Jae-myung's campaign on Wednesday is focusing on attracting 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 has stayed weak. Fixing these issues could boost the market by 200 to 300 points." Meanwhile, the DP focused on getting people out to the polls, urging the public to vote to end what the party described as an insurrection. "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." Floor leader and Acting Chairman Park Chan-dae, who also serves as a chair of the presidential campaign committee, 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 and encourage others to take part as well. Shin Ha-young, Arirang News.

Trump suggests 15% cap on international students at Harvard

2025/05/29 10:00

U.S. President Donald Trump has called for a drastic reduction in the number of international students at Harvard University, proposing a cap of just 15 percent, less than half of the current figure. Our Kim Jung-sil has details. 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.

Russia proposes talks with Ukraine on June 2

2025/05/29 10:00

Russia has proposed holding second round of direct talks with Ukraine in Istanbul next Monday. U.S. President Donald Trump doubled down on his criticism of Russian President Vladimir Putin, saying he'll know soon if the Russian leader is just "tapping" him along. Lee Seung-jae reports. Moscow has proposed holding another round of direct talks with Kyiv. The meeting which would again take place in Istanbul, is slated for June 2nd, with the aim of achieving a sustainable peace settlement. "The Russian side, as agreed, has promptly developed a relevant memorandum, which sets out our position on all aspects of reliably overcoming the root causes of the crisis. Our delegation, led by Vladimir Medinsky, is ready to present this memorandum to the Ukrainian delegation and to provide necessary clarifications during the second round of direct talks in Istanbul next Monday, June 2." However, there was no immediate response from Ukraine. The proposed talks come as their previous meeting on May 16 in Istanbul ended without an agreement on a ceasefire. Russia's top envoy Sergei Lavrov expressed hope that those "interested in the success of the peace process will support holding a new round of Russia-Ukraine negotiations in Istanbul." Meanwhile,.. U.S. President Donald Trump said Wednesday that he doesn't want to impose any new sanctions on Russia yet, as he does not want such penalties to interfere with getting a ceasefire. When asked by a reporter if he believe Russian President Vladimir Putin is sincere about ending the war, Trump said he'll know in about two week. "I can't tell you that, but I'll let you know in about two weeks, within two weeks, we're going to find out very soon. We're going to find out whether or not he's (Putin) tapping us along or not. And if he is, we'll respond a little bit differently. But it'll take about a week and a half, two weeks." The U.S. President also said Putin may be intentionally delaying ceasefire negotiations, while expressing his disappointment over recent Russian strikes in Ukraine. Lee Seung-jae, Arirang News.

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

2025/05/29 10:00

South Korea's central bank has slashed its benchmark interest rate by 25 basis points as widely expected, bringing it to 2-point-5 percent. In its fourth Monetary Policy Committee meeting of the year, the Bank of Korea on Thursday announced a rate cut, after leaving rates unchanged in January and April, and lowering them in February. The decision comes amid growing economic uncertainty from U.S. tariff policies as well as the stabilization of the won-dollar exchange rate. South Korea's economy already contracted in the first quarter shrinking by 0-point-2 percent, a sharp downturn from the central bank's February forecast of 0.2 percent growth. The Bank of Korea also revised down its economic growth projection for this year from 1-point-5 percent to 0-point-8 percent.