News

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

2025/04/10 17:00

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

Zelenskyy says 155 Chinese nationals are fighting for Russia in Ukraine

2025/04/10 17:00

Ukrainian President Volodymyr Zelenskyy says at least 1-hundred-55 Chinese nationals as identified by Kyiv's intelligence are fighting alongside Russia against Ukraine. Addressing members of the media on Wednesday he added that Beijing is aware Moscow is recruiting Chinese mercenaries through social media platforms. Also earlier on Tuesday the Ukrainian leader revealed that two Chinese men had been captured during combat on Ukrainian soil. China's Foreign Ministry in response has said Beijing is looking into the situation but rejected as groundless reports of broader Chinese involvement in Russia's military campaign.

S. Korea and U.S. inked new joint wartime operations plan last year to counter N. Korea WMD, missile threats: USFK Commander

2025/04/10 17:00

Seoul and Washington reportedly signed a fresh wartime operations plan last year. This is according to General Xavier Brunson the commander of the U.S. Forces Korea in a written statement to the U.S. House Committee on Armed Services on Wednesday. He added the new deal was sealed in response to Pyongyang's increasingly sophisticated weapons of mass destruction and missile capabilities. Moreover with regard to the stationing of American soldiers on the Korean peninsula Brunson highlighted the "positional advantage" of this troop presence.

Seoul mobilizes full diplomatic response to U.S. tariff policy shift

2025/04/10 17:00

Acting President Han Duck-soo has called for a closely coordinated approach to addressing U.S. tariffs on South Korea with all agencies including the country's embassy in the U.S. reaching out to relevant American authorities for talks. Our correspondent Moon Hye-ryeon has the latest. Acting President and Prime Minister Han Duck-soo has ordered an all-out diplomatic push to respond to Washington's tariff moves, following the Trump administration's decision to temporarily suspend additional rates on reciprocal tariffs for key trade partners, including South Korea. During a virtual meeting on Wednesday with South Korea's ambassador to the United States, Cho Hyun-dong, and Minister for Trade, Cheong In-kyo, Han stressed the need for swift and unified coordination with U.S. counterparts — the National Security Council, U.S. Trade Representative, and the U.S. Departments of State, Commerce and Energy. He instructed the Korean Embassy in Washington to strengthen communication with U.S. officials and ensure timely reporting back to Seoul, where all government ministries are treating the situation with "the utmost seriousness." Ambassador Cho said U.S. officials reacted positively following Han's phone call with U.S. President Trump, expressing interest in deepening cooperation in trade, energy, and shipbuilding. Trade Minister Cheong, who is currently in Washington, echoed that the tariff delay gives Korea a chance to minimize the economic fallout. However, he warned of potential spillover effects from steep U.S. tariffs on China — such as an influx of discounted Chinese goods into Korean and regional markets. Meanwhile, Deputy Prime Minister and Finance Minister Choi Sang-mok also addressed the issue, stating on Wednesday that the 90-day deferral has eased some immediate pressure. In a meeting with financial envoys abroad, he pledged full support for Korean companies during this adjustment period and emphasized the need for clear messaging that Korea's economic and foreign policy remains steady despite this period of political transition. Officials noted that while China is responding forcefully to the U.S. tariffs, countries like Japan and Vietnam are prioritizing dialogue — highlighting the importance of tailored, proactive diplomacy in the weeks ahead. Moon Hye-ryeon, Arirang News.

90-Day Tariff Freeze: How Korea should weigh its trade approach

2025/04/10 17:00

The country-specific U.S. tariffs are on hold for now but the baseline 10-percent tariff on all foreign-origin goods as well as the 25-percent tariff on cars and steel imports into the American market remain in place. So what have been the ripple effects of these tariffs on South Korea thus far? Our correspondent Lee Soo-jin takes a look. This is just one of over 100 tariff-related inquiries the Korea Trade-Investment Promotion Agency now receives daily, a sharp jump from just 20 before U.S. President Donald Trump's tariffs. But while the 90-day pause on reciprocal tariffs offers Korea temporary relief, existing duties remain a challenge. The 10-percent baseline tariff that went into effect on April 5th remains in place, and the 25-percent duties on items like automobiles and steel are not covered by the 90-day grace period. And starting May 3rd, a 25-percent tariff on auto parts will also go into effect. "Auto parts suppliers are facing significant disruption. Some sub-parts required for manufacturing are still being imported from Korea. So even if vehicle assembly happens locally, the impact of increased tariffs on imported car parts is still unavoidable." But as of now, markets are seeing a recovery. A buy-side sidecar was triggered Thursday morning for the first time in over eight months, as the KOSPI 200 futures jumped more than 5 percent from the previous session, just days after a sell-side sidecar was activated on Monday, also for the first time in eight months. A buy-side sidecar was also activated for the KOSDAQ during morning trade for the first time since August last year when the futures and the stock index each rose more than the 6 percent and 3 percent thresholds. The market rebound extended through the day, with the KOSPI and the KOSDAQ indexes both closing up at around 6 percent. And the 90-day pause provides Korea a chance to strengthen its trade strategy. "With the United States not only trade and tariff but also shipbuilding, energy investment in Alaska gas pipe and defense cost-sharing is expected to be discussed comprehensively." As one of the Trump administration's key energy priorities is fossil fuels, it has repeatedly urged Korea to join the Alaska LNG project. In response, South Korea's Foreign Ministry issued a research tender on Thursday to explore ways to expand U.S. oil and LNG imports. Shipbuilding, where Korea is a global leader, is also emerging as a key area of cooperation, following Trump's executive order to rebuild the U.S. shipbuilding industry, citing national security and competition with China. Lee Soo-jin, Arirang News.

Wall Street climbs on news of Trump's 90-day tariff pause

2025/04/10 17:00

As expected Wall Street rallied following news of a 90-day pause in U.S. tariffs on its trade partners. The Dow Jones Industrial Average on Wednesday surged 7-point-8 percent to close at 40-thousand-6-hundred-8-point-4. The tech-heavy Nasdaq soared over 12 percent to end its session at 17-thousand-1-hundred-24-point-9. Global crude prices also rose. On the New York Mercantile Exchange futures for May delivery for West Texas Intermediate gained over 4 percent while the June delivery for Brent Crude also jumped over 4 percent on the ICE Futures Exchange.

K-wave AI News

2025/04/10 14:00

Hello and welcome to your AI guide to the latest cultural updates from Korea. Here's our top story. The National Heritage Service has downgraded the national heritage disaster warning level from "Serious" to "Alert." The decision comes two weeks after the highest alert level was issued on March 25 in response to massive wildfires in the Gyeongsang region. The agency explained that the immediate threat has been resolved as the fires have been fully contained in Ulsan and across the Gyeongsang provinces. A total of 35 national heritage sites were damaged in the wildfires, including the thousand-year-old Gounsa Temple in Uiseong. The National Museum of Korea ranked 8th in visitor numbers last year among museums and art galleries worldwide. According to international art publication, 'The Art Newspaper,' the museum attracted nearly 3.8 million visitors in 2024. This places the National Museum of Korea as the eighth most visited in the world among the institutions surveyed. The Louvre in Paris topped the list with over 8.7 million visitors, followed by the Vatican Museums, the British Museum in London, and the Metropolitan Museum of Art in New York. The '46th Seonnong Daeje,' a traditional royal ritual to pray for a bountiful harvest, will take place next week in Seoul's Dongdaemun District. Joseon kings symbolically plowed a field to underscore the importance of agriculture and shared beef soup with the people afterward — a custom believed to be the origin of 'seolleongtang,' a beloved Korean dish. Festivities will kick off next Friday with a Korean traditional music concert at the 'Flower Garden of Knowledge' in Jeonnong-dong. The main event will be held the following day, featuring ceremonial rites and a reenactment of a royal procession. Around 300 participants, including international students, are expected to join the procession to Seonnongdan, a historic altar where kings once carried out the agricultural rituals. That's all from me. Keep it tuned to the Kulture Wave.

[Short-form] Royal Tombs of the Joseon Dynasty

2025/04/10 14:00

Embark on a journey through the charms of the Joseon royal tombs, where history and nature come together.

[Hallyu People] Meet the director of King Sejong Institute Surabaya, selected as "Best KSI of 2024"

2025/04/10 14:00

Indonesia is one of the largest consumers of Korean culture in Southeast Asia showing one of the highest favorabilities towards Korean cultural content according to surveys in recent years. No wonder then, that interest in learning the Korean language is also high. For today’s “Hallyu People” we connect live to Herwindy Maria Tejaatmaja, the director of the Sejong Institute Surabaya, to listen to the current status of Korean language learning in Indonesia. Hello Herwindy! Q1) First of all, congratulations to your King Sejong Institute having been chosen as one of the five best King Sejong institutes in 2024. How do you feel about this achievement? Q2) KSI Surabaya celebrates its 10th anniversary this year and has so far around 6,000 graduates. Any memorable moments or stories of students you would like to share? Q3) Indonesia has the fourth largest number of King Sejong Institutes in Asia, after Vietnam, China and Japan. What are the reasons behind people in Indonesia enrolling in Korean culture or language classes? (Majoring in Korean at universities is also popular we heard?) Q4) In addition to teaching Korean, we heard KSI Surabaya also works with the local community to organize Korean culture lectures. What kind of events have been held recently and how was the response? Q5) At the beginning, I mentioned that Indonesia has been found to be a country with one of the highest interests in K-culture in the world. Do you see that happening around you? Tell us about your own experience. 6) Lastly, for Indonesian fans of the Korean wave, what role can the King Sejong Institute Surabaya play in the future? What are your plans and goals? Is there any upcoming K-culture event (drama, movie, concert) you (Indonesians) are looking forward to this year? Thank you for connecting with us today Herwindy we wish you and the Sejong Institute Surabaya the best and keep in touch. Thank you Bella as always, we'll see you back tomorrow.

[K-wave] Kansong Art Museum opens rare fan art exhibition

2025/04/10 14:00

Every fan has a story to tell. The Kansong Art Museum has opened its spring exhibition featuring exquisite paintings and calligraphy rendered on classical Korean hand fans. From works by late Joseon masters to modern literati artists, the display offers a rare glimpse into the refined beauty and spirit adorned on fans across generations. Our Han Da-eun takes us there. A fan painting gifted by a Qing dynasty scholar to a celebrated Joseon literati painter Hong Hyeon-ju. The delicate bamboo leaves invite viewers into the refined artistic exchanges of the era. "Jiranbyeongbun" by Chusa Kim Jeong-hui, a towering figure of Joseon-era calligraphy and literati art, brings to life a graceful composition of orchid blossoms and mushrooms. Jo Hui-ryong's orchids whisper of changing times, casting light on the evolution of his artistic style. "Jo Hui-ryong's early orchid paintings were largely shaped by Chusa Kim Jeong-hui, but later gave way to a more unrestrained style—reflecting the emotional weight of his exile." A grand fan painting by Danwon Kim Hong-do, Joseon's prominent painter renowned for his depictions of common people, with heartfelt praise from Kim's close mentor inscribed in the right corner adds to the charm and warmth of this masterful work. "Rather than giving a plain fan, our ancestors made it special by adding their own paintings or calligraphy—turning it into a personalized gift." The fan artworks of modern-era artists are filled with calligraphy and paintings, each brimming with stories and warm wishes for the recipient's good fortune. Titled "Seonwoo Pungwol," which translates to "sharing a moonlit breeze with good friends," the exhibition features 55 fan artworks carefully curated from the Kansong Art Museum's collection. Among them, over 20 pieces will be unveiled to the public for the first time. The museum's first fan-themed exhibition in 50 years runs through May 25, inviting visitors to discover the untold stories woven through every fold and brushstroke. Han Da-eun, Arirang News.

[K-enter] Injunction appeal held for NewJeans and ADOR

2025/04/10 14:00

We will start with the dispute between NewJeans and ADOR. What are the latest updates Bella? On Wednesday, a 15-minute hearing took place for the appeal made by NewJeans, last month, against the court injunction imposed on the members’ activities. The hearing took place at the Seoul Central District Court and only the attorneys of NewJeans and the agency ADOR attended. It was not open to reporters, as opposed to last month’s hearing that was open to audience. The result of the appeal is yet to come out. Wednesday’s hearing took place two and a half weeks after the court sided with ADOR and approved the injunction against NewJeans’ activities taking place outside of the agency. The court ruled that the five members’ argument that their trust had been broken wasn’t sufficient and ordered them to return to ADOR. Instead of accepting the injunction ruling, NewJeans appealed the decision and announced that they will halt all activities for now. The first hearing on NewJeans’ termination of its contracts with ADOR took place on April 3rd where the two did not come to a settlement. The second hearing over the contract termination will take place on June 5th. Moving onto our next story-we are going to talk about G-Dragon and his music which can be heard everywhere from radio to the internet, social media, clubs and cafes, you name it. but perhaps this is the most unlikely place you would expect to hear it. We always talk about K-pop artists performing all around the globe in so many different countries. But I can guarantee you that none of their songs have been played here. As you may all know, G-Dragon is a visiting professor at Korea Advanced Institute of Science and Technology, KAIST. Well, he collaborated with scientists at KAIST to launch his music and an image of his iris into OUTER SPACE! The Space Institute of KAIST announced on Thursday that the world’s first “space sound transmission” was successfully conducted on Wednesday by Lee Jin-joon, a contemporary artist and associate professor at KAIST, in collaboration with G-Dragon. Professor Lee used generative AI technology to create a media art piece titled “Iris,” based on an image of G-Dragon’s eye. The audio component included sound from the Emile Bell, a historic Korean bronze bell over a thousand years old, along with G-Dragon’s recent hit “Home Sweet Home.” G-Dragon said that he was both thrilled and surprised by the project. He explained the reason behind selecting “Home Sweet Home” was because the song features Big Bang members, Taeyang and Daesung. In that sense, he added that he is excited to see Big Bang travel into space, where the big bang is from. Thrilled to see more interesting projects like this. Our last story is on an actor, who are we talking about? Soa, can you guess which actor is most loved globally? It’s Lee Min-ho! Lee Min-ho has been crowned as the ‘Most Loved Korean Actor Worldwide’ not just this year, but for 12 consecutive years. According to the ‘2025 Global Hallyu Survey’ released by the Ministry of Culture, Sports and Tourism and the Korean Foundation for International Cultural Exchange, Lee Min-ho secured the top spot as the most preferred Korean actor globally for 12 years in a row, solidifying his status as a Hallyu star. He ranked first in all five continents―Asia, the Americas, Europe, the Middle East, and Africa -across 28 countries, proving his immense global popularity. Through various successful projects like “The Heirs,” “Legend of the Blue Sea,” and “Pachinko,” Lee Min-ho has definitely demonstrated his power. Meanwhile, Lee Min-ho is set to appear in the upcoming film “Omniscient Reader: The Prophet” later this year. Very impressive milestone by Lee Min-ho! Thank you Bella for today’s stories.

Trump announces 90-day pause on reciprocal tariffs, hikes levies on China

2025/04/10 10:00

U.S. President Donald Trump has made a dramatic reversal, announcing a 90-day pause on the reciprocal tariffs that went effect on Wednesday. But he hiked China's tariff rate to 125% after Beijing retaliated. Kim Bo-kyoung has our top story. In just 13 hours since the reciprocal tariffs for so-called "worst offender" countries took effect on Wednesday, U.S. President Donald Trump abruptly backed down on this set of tariffs for 90 days for all countries apart from China, which instead saw its tariffs raised to one-hundred-25-percent. Trump's stunning reversal came through his social media just before 1:30 PM Wednesday where he said Washington would pause higher targeted tariffs to more than 75 trading partners who reached out to negotiate with the U.S., rather than retaliated. He repeated his thoughts during an event with race car champions on the White House South Lawn. "I did a 90-day pause for the people that didn't retaliate, because I told them, if you retaliate we're going to double it. And that's what I did with China, because they did retaliate." The decision means countries that would have faced reciprocal tariff rates on Wednesday including South Korea, see rates go back down to the universal ten-percent rate. But for Beijing, which had retaliated to Trump's 104% tariffs by upping its tariff rate on U.S. goods to 84%, Trump raised tariffs on China yet again, to now 125%. Products that aren't exempt under the trade deal --steel, aluminum and autos, will still have a 25-percent tariff. When asked whether volatile bond markets persuaded him to pull back on his plan, Trump said he saw people were getting afraid. "The bond market right now is beautiful. But yeah, I saw last night where people were getting a little queasy. . They were getting yippy, you know, they were getting a little bit yippy, a little bit afraid." On this, Treasury Secretary Scott Bessent reportedly told the press at the White House,. that what people saw --the reciprocal tariffs that went effect on Wednesday was a "ceiling", and now that they have a temporary "floor." He added it would take some time for each country's tailor-made solutions. Meanwhile for South Korea, the 90-day pause will likely serve as time to negotiate with the U.S. after the new administration launches in June. Kim Bo-kyoung, Arirang News.

[Weather] Lovely spring day but dusty in the Seoul metro area

2025/04/10 10:00

It's shaping up to be a lovely spring day across much of the country, with warmer temperatures and clear skies. But air quality is still a concern in the Seoul metropolitan area, it will be dusty all day, whereas Busan and Ulsan will see dusty air at night. Meanwhile, Gangwon-do and Jeju will see rain through the morning, then parts of Gyeongsang-do provinces could see spotty rain with possible hail in the late afternoon. But overall, it's a beautiful spring day with plenty of sunshine and milder temperatures. Highs will jump more than 10 degrees by lunchtime. Seoul, Daejeon and Busan get up to 19 degrees Celsius, Gyeongju tops out at 23 degrees. Tomorrow will feel more like mid-May, with a high of 24 degrees Celsius in the capital. Rain is forecast to move in on Saturday, spreading across much of the country through Sunday with some chill. Knowing that, you might want to squeeze in those spring outings before the rain arrives!

U.S. Defense Secretary calls for cooperation against "Chinese threats" during Panama visit

2025/04/10 10:00

U.S. Defense Secretary Pete Hegseth has announced plans to enhance military cooperation with Panama, aiming to counter perceived threats from China's influence over the Panama Canal. During a visit to Panama City on Tuesday, Hegseth emphasized the strategic importance of the Panama Canal, through which over 40% of U.S. container traffic transits annually. On Wednesday, he asserted that China-based companies control critical infrastructure in the canal area, potentially enabling surveillance activities that compromise the security and sovereignty of both Panama and the United States. In response, the U.S. and Panama have agreed to deepen their military collaboration, including conducting joint training exercises and enhancing security operations to safeguard the canal's operations.

Coalition deal in Germany clears way for Friedrich Merz to become chancellor

2025/04/10 10:00

Let's begin in Germany where Friedrich Merz is set to become the next chancellor? That's right. With the conservative CDU/CSU alliance and the center-left SPD reaching a coalition agreement, Merz will be inaugurated as the new chancellor next month. On Wednesday local time, leaders from Germany's Christian Democratic Union, its sister party the Christian Social Union, and the Social Democratic Party announced a coalition deal. This follows the federal elections held on February 23, where the CDU and CSU emerged as the leading force without an outright majority. The coalition's policy framework, titled "Responsibility for Germany," outlines key initiatives, including economic measures, fiscal policy, defense, and foreign policy. Friedrich Merz, leader of the CDU, is poised to become the next Chancellor, pending formal approval processes within the involved parties.

Ghibli-style AI-generated portrait boom; new wave in art scene?

2025/04/10 10:00

If you're active on social media, you've probably come across one of these Ghibli-style portraits that are AI-generated. Our Park Kun-woo tells us more about the craze as well as the potential issues with the craze. Social media is buzzing with Studio Ghibli-style portraits -not of actual characters but of real people transformed using generative AI. The global trend has also reached South Korea after OpenAI CEO Sam Altman posted his own version last month, showing how ChatGPT can now create intricate images with just simple prompts. "Whenever I open social media, it's flooded with these Ghibli-style images. A lot of my friends have tried them, some even shared their wedding photos in that style." Since the launch of the new image-generation tool in late March, over 700 million images were created, in just the first week. "This is my original photo, and I asked to be turned into a Ghibli character—and boom, two minutes later, here I am. And it's not just this but you can also turn into characters like Pororo or Marvel heroes. No wonder it's gone viral." As the craze spreads, Sam Altman even joked on social media that "our GPUs are melting." However, the trend has also had backlash. A Japanese animation director known for "One Piece" expressed strong distaste, saying the trend is tarnishing the Ghibli brand. And Studio Ghibli co-founder Hayao Miyazaki previously condemned AI-generated work as "an insult to life itself" adding that he would never use it in his pieces. Copyright concerns are also fueling the controversy. "Art styles and aesthetics are considered ideas, so the case is hard to judge whether it's violating copyrights. The issue is whether an AI company trained its model on works in the Ghibli style." She added that because this is a legal grey area with not much precedent, international and social consensus will be crucial moving forward. Despite the controversy, some believe this could be a new turning point in the culture and art scene. "The art world faces what's called "Baumol's cost disease" -rising labor costs without matching productivity. And hand-drawn animation is extremely labor-intensive. Ghibli, for example, hasn't released a new film since 2014. But AI could ease that burden and enable new creations while preserving the original identity." She also said that with proper consensus, AI-generated art could evolve into a new cultural movement, perhaps even gaining long-term value, much like Van Gogh's paintings did posthumously. And considering that, a tiny Ghibli-style AI portrait might just be the spark, redrawing the entire canvas of modern art. Park Kun-woo, Arirang News.

Wall Street climbs on news of Trump's 90-day tariff pause

2025/04/10 10:00

Wall Street reacted positively to the news of Trump's 90-day tariff pause. The Dow Jones Industrial Average on Wednesday rose 7-point-8-7 percent, or over 2-thousand-962 points, to close at 40-thousand-608-point-4-5. The tech-heavy Nasdaq soared over 12 percent, up over 1-thousand-857 points from the previous trading session, to close at 17-thousand-124-point-9-7. Global crude prices also rose on the news of the tariff pause. On the New York Mercantile Exchange, futures for May delivery for West Texas Intermediate rose more than 4 percent from the previous trading session, while the June delivery for Brent Crude also climbed over 4 percent on the ICE Futures Exchange.

On-point: Why 125% tariffs on China when a 90-day pause for others?

2025/04/10 10:00

Trump is really hunting down China. A 90-day pause on Trump's reciprocal tariffs with the exception of China, with Beijing now facing 125% tariffs. We're joined by Professor Oh Joon-seok this morning. Welcome back. 1. Tariffs continue to roll in for Beijing when a tariff delay has been given to others. 2. Some analysts also point out it's about who'll blink first here: Washington or Beijing? 3. With the tariff delay, South Korea has bought time until early July, when we'll have a new leader. 4. It looks like Trump's pushing for this one-stop shopping --bundling trade, defense, and industrial cooperation into one package deal. 5. Trump can be really pushy, especially when pursuing his goals. Thanks so much for sharing your insight this morning.

China counters Trump's 104% tariffs with 84% levies on U.S. products

2025/04/10 10:00

And hours before the announcement on the delay, both China and the EU decided to strike back at Trump's reciprocal tariffs. First, China countered Trump's 104 percent tariff with 84 percent duties on American goods. Lee Seung-jae tells us more. The two largest economies in the world are now going back and forth with tariffs, each hoping one side with succumb first. A day after U.S. President Donald Trump announced a 104 percent tariff on Chinese goods coming into the U.S., China retaliated, announcing an 84 percent tariff on U.S. goods. China's State Council Tariff Commission said in a statement that the U.S. escalation of tariffs against Beijing is a "mistake upon mistake," adding that it "severely" infringes upon China's legitimate rights and interests. It added that the U.S. tariffs seriously damage the rules-based multilateral trading system. China had warned that it would "fight to the end" if Washington continued to impose additional tariffs against the country. On top of the 84 percent tariffs, China's Ministry of Commerce announced that it had imposed export controls on 12 American companies, banning Chinese companies from supplying them with dual-use products with military and civilian applications. Beijing also added 6 more U.S. firms to its "unreliable entity list," which bans them from trading or making new investments in China. Meanwhile the European Union will impose its first countermeasures against the U.S. reciprocal tariffs starting next week. EU members agreed on Wednesday to join Canada and China in retaliating against U.S. tariff policies. Members agreed to impose retaliatory tariffs on 23 billion U.S. dollars worth of American products, from farm produce to products from Republican states. The EU says it will impose 25 percent tariffs on a number of goods from almonds to yachts,.. with the first levies being collected starting next Tuesday. Most of the retaliatory tariffs will be applied from May 15th,.. and the remainder starting on December 1st. However,.. the European Commission said in a statement that "these countermeasures can be suspended at any time, should the U.S. agree to a fair and balance negotiated outcome. Lee Seung-jae, Arirang News.

S. Korea's stocks surge with tariff pause, buy-side sidecar activated for KOSPI 200 futures

2025/04/10 10:00

South Korea's stock market is surging, boosted by the pause in U.S. tariffs. As of 9:02 AM on Thursday, the KOSPI stood at 2-thousand-415-point-39, up more than five percent from the previous session, triggering a buy-side sidecar for the first time in more than eight months at 9:06 AM. A sidecar is activated when the KOSPI 200 futures index rises or falls by 5 percent or more and stays there for at least a minute. The tech-heavy KOSDAQ also showed a large jump of more than four percent.