News

[Sports Round-up] Paris Saint-Germain, Lee Kang-in win Ligue 1 title with six games to spare

2025/04/07 20:00

Time now to take a look at what's been happening in the world of sports. Joining us in the studio is our sports editor Paul Neat. Hello Paul. Hello. Let's start with football. It's been another successful season in the French capital for Lee Kang-in. Yes, Paris Saint-Germain are the champions of France for the fourth year in a row. It's now two in a row for South Korean star Lee Kang-in. PSG on Saturday sealed a 1-0 home win over Angers to secure the league title. This meant a 22-point lead with six games to go. Lee Kang-in has made 26 league appearances for PSG so far this season, scoring six and assisting five more than last season already. PSG have gone unbeaten in the league so far, as well winning 23 matches from 28. And there could be more silverware as PSG have a Champions League last eight tie with Aston Villa to come later this week, and the FIFA Club World Cup in June. Moving on to baseball. The KBO seems to set new attendance records all the time these days. Yes, it does. The latest is the fastest to one million fans. According to the KBO on Sunday, after three of the five games were sold out, there had been 1 million 59-thousand-380 fans in the stands so far after 60 games. The previous record was 65 games set back in 2012. There have been 30 sellouts this season so far. There were 221 in total last year, with 10-point-8-8 million fans in total -both records. But it's not all good news; the NC Dinos will play their next few home games elsewhere due to ongoing safety checks at their stadium in Changwon. A fan died last week after a piece of metal hit them on the head inside the stadium. The club had already suspended ticket sales, and the series with the SSG Landers last week was cancelled. But now, the series with the Lotte Giants will take place at Sajik Baseball Stadium in Busan instead. And finally, in Major League Baseball, Lee Jung-hoo's excellent start to the new season continues. Yes, seven games in a row now for hits. And two in a row for "multi-hits." Lee Jung-hoo and the San Francisco Giants beat the Seattle Mariners 5-4 on Sunday. Lee batted third and went two-for-four with one run scored. Another hit also meant that he has a league-leading six doubles so far this season. Six is also a new career high, having recorded four last year before injury ended his season early. Lee batted 0-for-2 on the opening day but has landed hits in every game since, and 10 runs in total is the most among the Giants players. The win was the Giants' seventh in a row, who sit top of the National League West standings at 8-1. Great stuff. Thanks for that, Paul. See you next week. Thank you.

Myanmar earthquake death toll tops 3,500 as bad weather hampers rescue efforts

2025/04/07 20:00

The death toll from the strong earthquake that struck Myanmar has risen to over 3-thousand-5-hundred. According to the Associated Press, more than 5-thousand people were injured and at least 200 remain missing. Heavy rain and strong winds over the weekend disrupted rescue efforts, temporarily halting the use of electrical equipment. Despite the severe weather, recovery efforts continue, with Mandalay Airport reopening and rail services to Yangon restored.

Ukraine faces mounting pressure as Russian strikes escalate as mineral deal talks loom in Washington

2025/04/07 20:00

Elsewhere. Russia continues its air attacks on Ukraine despite U.S. efforts to hammer out a ceasefire. Byeon Ye-young reports. Twisted steel beams, shattered windows, and other mangled remains of residential blocks now scar the skyline of Kryvyi Rih after a Russian missile strike on April 4th killed at least 20 people, including children playing in a park. Dozens were injured. As Ukraine observed a day of mourning, Russia launched more missiles and drones at Kyiv on Sunday, killing one and wounding several others. Ukrainian President Volodymyr Zelenskyy condemned the attacks and criticized the U.S.'s tepid response to the attack on Kryvyi Rih, his hometown. "Staying silent about the fact that it is Russia killing children with ballistic missiles is wrong and dangerous. It only emboldens Moscow to continue the war and keep ignoring diplomacy." While Washington has yet to respond officially, Secretary of State Marco Rubio hinted at a possible shift in policy. Speaking in Brussels on Friday following a two-day NATO meeting, Rubio suggested that Washington's patience with Moscow is wearing thin and warned that Russia could soon face additional U.S. sanctions. Amid the military crisis, Ukraine is preparing for talks in Washington next week on a new draft for a mineral deal. According to The Associated Press, Ukraine's Economy Minister Yuliia Svyrydenko confirmed that a Ukrainian delegation, including officials from the Ministries of Economy, Foreign Affairs, Justice, and Finance, will head to the U.S. next week. The proposed agreement would give the U.S. access to critical resources such as rare earths, oil and gas. European leaders are also pushing for tougher measures. French President Emmanuel Macron called for an immediate ceasefire and "strong action" if Russia continues to stall. Finnish President Alexander Stubb proposed April 20th, which marks both Easter and the three-month anniversary of President Donald Trump's inauguration, which marks both Easter and the three-month anniversary of President Donald Trump's inauguration, as a deadline for Russia to comply with ceasefire terms. Byeon Ye-young, Arirang News.

Growing downside risks to S. Korean economy amid U.S. tariff pressures: KDI

2025/04/07 20:00

A state-run think tank has highlighted the presence of greater external risk factors to the Korean economy, notably U.S. trade barriers. Moon Hye-ryeon has more. A state-run think tank has diagnosed continued downside risks to South Korea's economy for the fourth consecutive month, citing growing uncertainties in global trade. In the April edition of its monthly economic trends report, the Korea Development Institute stated that external conditions are "rapidly deteriorating" in light of the recent tariff announcement from the United States, and paired with the slowdown in both domestic and global demand, the situation is exacerbating. Last week, Washington announced that it would impose tariffs of 25 percent on South Korean goods, and a separate 25 percent tariff on global automobiles and auto parts. Automobiles are South Korea's top export to the United States, with nearly half of the country's total auto shipments headed there last year. The KDI noted that if the U.S. continues to escalate its protectionist trade measures – as U.S. President Trump has threatened to do – it could further erode corporate sentiment and hinder investment and export growth. While South Korea's exports rose by more than three percent in March, the think tank warned that this recovery remains fragile, with exports in the first quarter of the year showing a contraction due to a slowdown in the ICT sector. The KDI also pointed to continued sluggish consumer spending as another drag on the economy. While internal consumption of durable goods briefly rebounded thanks to a temporary tax cut on automobiles for the first half of the year, overall retail sales for January and February were down with persistent weakness in sales of semi-durable and non-durable goods. Consumer sentiment in March stayed pessimistic, with the central bank's Consumer Sentiment Index data showing that it has yet to recover to levels seen before the martial law declaration last December. Going forward, the think tank stressed the importance of closely monitoring both global developments and domestic demand to avoid further drag on recovery. Moon Hye-ryeon, Arirang News.

S. Korea's industry minister, Philippine delegation agree to strengthen econ. cooperation

2025/04/07 20:00

South Korea's industry minister met with high-ranking government officials from the Philippines on Monday to discuss ways to strengthen economic cooperation between the two countries. Minister Ahn Duk-geun held talks in Seoul with a 23-member Philippine delegation, during which both sides pledged to expand cooperation in trade, investment, and supply chain resilience. They also agreed on the importance of deepening collaboration in critical minerals and clean energy. The meeting comes as South Korea is seeking to diversify its export markets in response to growing global trade uncertainties caused by U.S. President Trump's tariff campaign.

S. Korea looks to find response measures to respond to China's export curb on rare-earth elements

2025/04/07 20:00

South Korea has pledged to ramp up efforts in response to China's recent export restrictions on rare-earth elements. Following a meeting on Monday with relevant stakeholders, including the trade and foreign ministries, the government aims to secure a public and private inventory of these minerals while preventing any lack of supply. As it is not an entire export ban, countries can still import elements such as graphite and gallium after obtaining an export permit from China's Ministry of Commerce. This comes amid Beijing's export controls as part of non-tariff retaliatory measures against the U.S. China provides around 90-percent of the world's rare earth supply, which is used to make weapons, electronics, and other consumer goods.

How S. Korea could recover from its leadership vacancy caused by Presidential impeachment

2025/04/07 20:30

Welcome to Within The Frame, where we bring the most pressing issues across the globe into focus. I'm Kim Mok-yeon. Just days ago, the Constitutional Court delivered a unanimous verdict — 8 to 0 — removing President Yoon Suk-yeol from power. The ruling has not only triggered an early presidential election but also left a gaping void in Seoul's diplomatic leadership at a time of global uncertainty and geopolitical rivalry. For months, summit diplomacy has been paralyzed under emergency rule. Key alliances with the United States and Japan are now under scrutiny, while relations with China and Russia remain deeply fractured. The international community is closely monitoring how Seoul navigates this leadership vacuum — and what comes next for its role on the world stage. Tonight, we speak with two experts to unpack the implications of this unprecedented moment: Joining us from Cambridge is Dr. John Nilsson-Wright, Head of the Japan and Koreas Programme at the Centre for Geopolitics. Welcome. Also joining us is Hannah Kim, Assistant Professor at Sogang University GSIS. Great to see you. 1. (Nilsson-Wright) Let's start with Dr. Nilsson-Wright. With the removal of former President Yoon Suk-yeol, South Korea has entered an early presidential election phase. As an international expert, how do you view Yoon's impeachment and the resulting diplomatic vacuum? 2. (Kim) Prof Kim, Since the declaration of martial law in December last year, South Korea has been unable to engage in summit diplomacy at the government level. What do you see as the most urgent diplomatic and security issues that need to be addressed? 3. (Kim) The impeachment of President Yoon has put U.S.-South Korea diplomacy in a similar situation to eight years ago during the impeachment of former President Park Geun-hye. Dr.Nilsson-Wright, how has the situation changed compared to back then? Also, the U.S. State Department has stated its willingness to work with Acting President Han Duck-soo and the Korean government — what kind of response do you believe is necessary? 4. (Nilsson-Wright) Former President Yoon emphasized "values-based diplomacy" and pursued a foreign policy centered on the U.S. and Japan. The U.S. media is now highlighting the possibility of a shift in South Korea's diplomatic direction under the next administration. What is your take on this? 5. (Kim) Given that former President Yoon pushed for improved Korea-Japan relations through trilateral cooperation with the U.S. and Japan, Tokyo is also closely monitoring the impact of the impeachment on bilateral ties. After the ruling, Japanese Prime Minister Shigeru Ishiba emphasized the importance of cooperation with Korea regardless of which administration takes office. Do you foresee any changes in South Korea's diplomatic approach toward Japan? 6. (Nilsson-Wright) On the other hand, some suggest that since the U.S. values trilateral cooperation with South Korea and Japan to check China, it would not welcome any instability in Korea-Japan relations. Dr.Nilsson-Wright, how much of an influence would you expect? And how do you see ties moving forward? 7. (Kim) On April 3, during the NATO Foreign Ministers' Meeting, the foreign ministers of South Korea, the U.S., and Japan reaffirmed the goal of complete denuclearization of North Korea. However, given ongoing concerns that the role of trilateral cooperation may diminish, should South Korea expand its leading role in responding to the North Korea nuclear issue? 8. (Nilsson-Wright) Since taking office, former President Yoon has had confrontational relations with China and Russia, both of which have had a major influence on the Korean Peninsula. There are views that his so-called "biased diplomacy" contributed to the strengthening of North Korea-Russia ties. Dr.Nilsson-Wright, how do you think South Korea's relations with China and Russia should proceed going forward? 9. (Kim) The current international community appears to be shifting away from values-based diplomacy toward a survival-of-the-fittest approach. In this global climate, how can the South Korean government under Prime Minister and Acting President Han Duck-soo restore its diplomatic credibility?

Rival parties begin preparations for two-month race as gov't tentatively set election date for June 3

2025/04/07 17:00

Come summer South Korea will usher in a new president into its top office as preparations are now underway for an early election most likely on the THIRD of June. Our political correspondent Shin Ha-young has the latest. The date for South Korea's 21st presidential election has been tentatively set for June 3rd. That's according to Yonhap News Agency, with the date expected to be confirmed at Tuesday's Cabinet meeting. South Korea's presidential race is heating up as rival parties roll up their sleeves to prepare for a two-month race following the Constitutional Court's decision to remove former President Yoon Suk Yeol from office. The People Power Party formed an election committee on Monday for the upcoming presidential primary. The party chose Hwang Woo-yea, a former party interim leader and former five-term lawmaker, as its election committee chair. "Since Hwang recently served as our party's interim emergency committee leader after the general election, he knows the party well. We believe he's the right person to run the primary fairly and objectively." The party on Sunday decided to continue with its current leadership, with interim leader Kwon Young-se and floor leader Kweon Seong-dong set to stay to carry out the remainder of the presidential election process. The party does not have a clear frontrunner, with some local media outlets expecting as many as 10 contenders to enter the race. Among them is Daegu Mayor Hong Joon-pyo, who hinted at another run after he finished second to Yoon Suk Yeol in the party's 2022 presidential primary. Seoul Mayor Oh Se-hoon is also frequently mentioned as a potential candidate. The most high-profile name, however, is former party chair Han Dong-hoon, once a close confidant of Yoon, who later distanced himself from the former president and publicly supported impeachment following the martial law declaration. Meanwhile, Democratic Party chair Lee Jae-myung -widely seen as the likely DP candidate -is expected to step down from his leadership role and make an official declaration to enter the race as early as Wednesday. Running as party chair could raise concerns about bias in the primary process. Local media anticipate that his formal announcement will come when the presidential election date is officially confirmed. Once Lee steps down, the DP plans to hold a meeting to set up an election committee for the primary. "We only have about 30 days for the primary, so we need to sort out any party rules, make changes if needed, and set up the election committee to get ready for the presidential race." Politicians outside Lee's faction within the DP are also preparing to enter the race. Among them, former DP lawmaker Kim Du-kwan was the first to make an official declaration to join the race. Shin Ha-young, Arirang News.

[Weather] Rain from tonight, most of it will stop by dawn tomorrow

2025/04/07 17:00

Today was the perfect day to enjoy outdoor activities. Warm spring weather feeling like late April to early May continued across the country. Leaving the chilly morning behind, the temperature in Seoul rose up to 20 degrees Celsius today. It will be as warm as 9 degrees in the morning and 19 degrees during the day in Seoul tomorrow. The daily temperature difference will widen to around 10 degrees nationwide. From tonight, the sky will gradually become cloudy in the west of central regions including Seoul. There is some light rain forecast of less than 5 millimeters overnight in this area. Most of it will stop at dawn tomorrow, but it could be accompanied by gusty winds and thunderstorms. Tomorrow morning, Chuncheon will start off at 7 degrees, Daejeon and Gyeongju at 10 degrees. Daily highs will move up to at least 19 degrees all over the country. Between Wednesday and Thursday, and on the weekend, there is news of rain across the country. That's all for Korea. Here are the weather conditions around the world.

World News: U.S. to revoke all visas held by South Sudanese over deportation dispute

2025/04/07 17:00

This is the World Now, bringing you the latest stories from around the globe. The U.S. has announced it will immediately revoke all visas held by South Sudanese passport holders, citing the African nation's failure to accept the return of its repatriated citizens. U.S. Secretary of State Marco Rubio said in a statement on Saturday that South Sudan's transitional government has not complied with international norms by refusing to accept its nationals deported from the United States. As a result, the U.S. Department of State is revoking all existing visas held by South Sudanese citizens and halting the issuance of new visas to these individuals. The unprecedented decision, the first of its kind aimed at a specific country since the Trump administration took office, comes amid concerns about a potential return to civil war in the African nation. Rubio accused South Sudan's government of "taking advantage of the United States" and added that the U.S. is prepared to review the recent actions once South Sudan demonstrates full cooperation in accepting its repatriated citizens. In the Middle East, two British Members of Parliament have been denied entry into Israel during a planned visit to the occupied West Bank. Israel accused the two lawmakers of plans to spread "anti-Israel hatred." Labour MPs Abtisam Mohamed and Yuan Yang, were detained upon arrival at Israel's Ben Gurion International Airport on Saturday local time. The Israeli immigration authority stated they intended to "document the security forces and spread hate speech against Israel," leading to their deportation. The MPs asserted that they were part of a parliamentary delegation, alongside charities, visiting humanitarian aid projects in the West Bank. British Foreign Secretary David Lammy called Israel's actions "unacceptable, counterproductive and deeply concerning." In the African country of the Democratic Republic of Congo, torrential rain led to severe flooding in the capital, Kinshasa, over the weekend, resulting in at least 22 deaths. 46 people were hospitalized, and 75 families also had to be temporarily relocated due to the conditions. The flooding disrupted access to more than half of the city and its main airport. While Kinshasa, home to over 12 million residents, experiences frequent flooding during the rainy season, the weekend's rain marks the city's first major deluge of the year. Similar flooding in the capital city in 2022 killed over 100 people. Finally, in the U.S. state of Los Angeles, a minke whale that had been swimming in Long Beach Harbor last week was found dead on Sunday morning local time. The National Oceanic and Atmospheric Administration is collaborating with local officials to determine the cause of death. Earlier efforts to guide the whale out of the harbor were unsuccessful as it repeatedly returned despite attempts by experts to encourage its departure. The whale's appearance in the harbor last week had attracted crowds eager to catch a glimpse of the marine mammal. Choi Chi-hee, Arirang News.

Small library in Gyeongbokgung Palace, welcoming spring

2025/04/07 17:00

For those of you here in Seoul looking for a peaceful place to indulge in books the king's study at Gyeongbokgung Palace is open as a small public library. Our Choi Soo-hyung has a glimpse. Spring has arrived in Gyeongbokgung Palace. This part of the palace.. is called 'Jibokjae', which means "Collecting precious jewels such as jade." It is connected with Palujeong, an octagonal two-story pavilion, and Hyeopgildang Hall, showcasing a distinctive traditional architectural beauty. Inside the buildings, over a thousand books fill the walls, and people look around and read. From April 2nd, the 'Jibokjae' has been opened as a small library. Here, visitors can read books, relax, and enjoy a moment of peace. The low ceiling gives visitors a cozy feeling and lets them see the beautiful Dancheong, traditional Korean patterns, up close. "I think it's yeah peaceful, quiet, so yeah, I feel lucky to be here actually. I choose other books like poem just to see how it's like writing." "We came here to enjoy the nice weather and also to learn more about our culture. The atmosphere is very calm and peaceful and it feels like the perfect place to relax. We are having a really great time." Since 2016, the Korea Heritage Service has opened this space for free to allow visitors to experience the palace more closely. This building was built in 1881 and was used by King Gojong as a study and to receive foreign envoys. It closed during the COVID-19 pandemic but reopened in 2022. Currently, this place has over 1,700 books related to the history of the Joseon Dynasty and royal family. "It also offers books for children, foreign language translations and, and rare resources such as the Annals of the Joseon Dynasty, which are not easily found elsewhere." The office plans to hold programs such as meet-the-author events and book talks at the library. The Jibokjae small library will be open until October 31, except in July and August. Choi Soo-hyung, Arirang News.

K-pop tops global association with S. Korea for 8th straight year

2025/04/07 17:00

For the eighth year in a row K-pop remains the first thing that comes to the minds of foreigners when asked about Korean culture. This is according to the latest annual survey by the Culture Ministry whose results were released on this Monday showing almost 18 percent with exposure to Korean culture highlighting K-pop as the top item on the list of Korean culture. This was followed by Korean food and K-dramas. The most favored K-pop artist in the survey was BTS which has held the top spot for seven straight years.

Power plant fire sends one worker to hospital, others evacuated safely

2025/04/07 17:00

Back on the local front. A fire broke out earlier on this Monday at a thermal power plant and fortunately no fatalities were reported. According to authorities the blaze began at around 9:30 a.m. at the Honam Thermal Power Plant located in Yeosu in the eastern part of Jeollanam-do Province. The flame was tamed in about an hour and half and officials have now launched an investigation into its cause.

Ukraine faces mounting pressure as Russian strikes escalate as mineral deal talks loom in Washington

2025/04/07 17:00

Meanwhile a recent Russian air strike on a residential area in the Ukrainian leader's hometown is prompting much outrage as it comes amid U.S. efforts to hammer out a ceasefire. Byeon Ye-young reports. Twisted steel beams, shattered windows, and other mangled remains of residential blocks now scar the skyline of Kryvyi Rih after a Russian missile strike on April 4th killed at least 20 people, including children playing in a park. Dozens were injured. As Ukraine observed a day of mourning, Russia launched more missiles and drones at Kyiv on Sunday, killing one and wounding several others. Ukrainian President Volodymyr Zelenskyy condemned the attacks and criticized the U.S.'s tepid response to the attack on Kryvyi Rih, his hometown. "Staying silent about the fact that it is Russia killing children with ballistic missiles is wrong and dangerous. It only emboldens Moscow to continue the war and keep ignoring diplomacy." While Washington has yet to respond officially, Secretary of State Marco Rubio hinted at a possible shift in policy. Speaking in Brussels on Friday following a two-day NATO meeting, Rubio suggested that Washington's patience with Moscow is wearing thin and warned that Russia could soon face additional U.S. sanctions. Amid the military crisis, Ukraine is preparing for talks in Washington next week on a new draft for a mineral deal. According to The Associated Press, Ukraine's Economy Minister Yuliia Svyrydenko confirmed that a Ukrainian delegation, including officials from the Ministries of Economy, Foreign Affairs, Justice, and Finance, will head to the U.S. next week. The proposed agreement would give the U.S. access to critical resources such as rare earths, oil and gas. European leaders are also pushing for tougher measures. French President Emmanuel Macron called for an immediate ceasefire and "strong action" if Russia continues to stall. Finnish President Alexander Stubb proposed April 20th, which marks both Easter and the three-month anniversary of President Donald Trump's inauguration, which marks both Easter and the three-month anniversary of President Donald Trump's inauguration, as a deadline for Russia to comply with ceasefire terms. Byeon Ye-young, Arirang News.

G7 foreign ministers raise concerns over China's recent military drills around Taiwan

2025/04/07 17:00

Top diplomats of the G7 have shared concerns over China's recent war games around Taiwan. In a joint statement they described Beijing's activities as "destabilizing" and urged for dialogue to address differences. The foreign ministers also asserted these regional tensions endanger international stability and prosperity. Last week the Chinese military held two days of military drills around Taiwan involving long-range live fire drills.

Growing downside risks to S. Korean economy amid U.S. tariff pressures: KDI

2025/04/07 17:00

And as expected a state-run think tank has highlighted the presence of greater external risk factors to the Korean economy notably U.S. trade barriers. Our correspondent Moon Hye-ryeon has more. A state-run think tank has diagnosed continued downside risks to South Korea's economy for the fourth consecutive month, citing growing uncertainties in global trade. In the April edition of its monthly economic trends report, the Korea Development Institute stated that external conditions are "rapidly deteriorating" in light of the recent tariff announcement from the United States, and paired with the slowdown in both domestic and global demand, the situation is exacerbating. Last week, Washington announced that it would impose tariffs of 25 percent on South Korean goods, and a separate 25 percent tariff on global automobiles and auto parts. Automobiles are South Korea's top export to the United States, with nearly half of the country's total auto shipments headed there last year. The KDI noted that if the U.S. continues to escalate its protectionist trade measures – as U.S. President Trump has threatened to do – it could further erode corporate sentiment and hinder investment and export growth. While South Korea's exports rose by more than three percent in March, the think tank warned that this recovery remains fragile, with exports in the first quarter of the year showing a contraction due to a slowdown in the ICT sector. The KDI also pointed to continued sluggish consumer spending as another drag on the economy. While internal consumption of durable goods briefly rebounded thanks to a temporary tax cut on automobiles for the first half of the year, overall retail sales for January and February were down with persistent weakness in sales of semi-durable and non-durable goods. Consumer sentiment in March stayed pessimistic, with the central bank's Consumer Sentiment Index data showing that it has yet to recover to levels seen before the martial law declaration last December. Going forward, the think tank stressed the importance of closely monitoring both global developments and domestic demand to avoid further drag on recovery. Moon Hye-ryeon, Arirang News.

Massive sell-off in S. Korea stock market; sidecar triggered by KOSPI 200 futures index

2025/04/07 17:00

Well regardless of those remarks by Mr. Trump the Korean stock market tumbled during early trade on this Monday with a circuit breaker going into effect briefly in the morning to ward off panic selling. Our correspondent Lee Soo-jin reports. U.S. President Donald Trump's tariff announcements have triggered massive sell-offs across South Korea's stock market. The Korea Exchange at 9:12 AM on Monday, activated a sell-side sidecar for the first time in eight months, when the KOSPI 200 futures index fell 5-point-19 percent to 312-point-05. A sidecar is triggered when the KOSPI 200 futures index rises or falls by 5 percent or more and stays there for at least one minute. On Monday, the sidecar was activated for five minutes. And stock indexes also took a hit amid mounting investor concerns over the impact of U.S. tariffs. Both the benchmark KOSPI and the tech-heavy KOSDAQ closed down more than five percent, the KOSPI down 5-point-57 percent to around 2-thousand-3-hundred-28, and the KOSDAQ 5-point-25 percent to 6-hundred-51. But one expert said decline of this size is likely a temporary phenomenon, which is why a circuit breaker --triggered when the KOSPI and KOSDAQ indexes fall by 8 percent or more --is unlikely to be activated. "Today's market decline was likely driven by last Friday's slump in the U.S. market and President Trump's hardline stance over the weekend, which led to a 3 to 4 percent drop in U.S. futures that triggered foreign investor sell-offs. As such, the downturn is unlikely to continue for long." The loss was led by foreign investors offloading shares as they reacted to sharp losses in U.S. markets. On Friday local time, Wall Street suffered sharp losses, with the broad-based S&P 500 closing down 6 percent, the tech-heavy Nasdaq 5-point-8 percent. And the Dow Jones fell around 5-point-5 percent. This marked the second straight day of major losses, with the S&P and Dow Jones both suffering the biggest one-day drops since June 2020 on Thursday. In the foreign exchange market on Monday, the Korean won weakened against the dollar, closing at around 1-thousand-467, down 33-point-7 won from the previous session after briefly topping 1-thousand-470 during intraday trading. The same expert said this reflects fears of a potential global economic downturn, noting that Korea's exchange rate with the dollar has surpassed the 1-thousand-400 won mark three times in the past, during the 1997 IMF crisis, the 2008 financial crisis, and the U.S. Fed's aggressive rate hikes in 2022. Lee Soo-jin, Arirang News.

Trump dismisses stock market turmoil caused by tariffs

2025/04/07 17:00

In other news. A baseline U.S. tariff of 10 percent on imports of all foreign-origin goods into the American market went into effect this past weekend and the heavier country-specific duties are poised to take effect this coming Wednesday U.S. time with no prospect of a postponement. Moon Ji-young has details. US President Donald Trump has refused to back down on tariffs on imports from most countries despite the market turmoil they have caused. Speaking to reporters on Air Force One on Sunday evening, Trump characterized the tariff duties as “medicine,” while panicked investors continued a massive sell-off of global stocks. He warned foreign governments that they would have to pay "a lot of money" to lift sweeping tariffs. “I spoke to a lot of leaders, European, Asian, from all over the world. They’re dying to make a deal. And I said, we’re not going to have deficits with your country. We’re not going to do that, because to me a deficit is a loss. We’re going to have surpluses or, at worst, going to be breaking even.” When asked about a potential trade deal with China, Trump underscored that no agreement would be reached unless the U.S. trade deficit with Beijing, currently at one trillion dollars, is addressed. He also claimed that tariffs caused China to pull back from a deal regarding TikTok, which was nearly finalized, highlighting this as evidence of "the power of tariffs." In response to tariffs on Europe, Trump stated that the U.S. cannot afford to spend heavily on NATO to protect Europe while losing money on trade. Meanwhile, speaking to NBC on Sunday morning, U.S. Treasury Secretary Scott Bessent said more than 50 countries have begun negotiating with the U.S. since the announcement of the reciprocal tariffs. The comments go in line with Trump's remarks last week that "every" country has called the U.S. for talks. On the same day, Trump shared a post on social media that massive financial deficits can be cured only with tariffs, calling them a “beautiful thing to behold.” Moon Ji-young, Arirang News.

Constitutional reform given green light, but will lawmakers slim presidential power with it up for grabs?

2025/04/07 17:00

The parliament is also looking to revise the country's Constitution. And within the reform proposals is one that grants presidents two four-year terms instead of the current single five-year term. Our Kim Do-yeon covers this plan and more. The leaders of South Korea's two major parties on Monday gave the green light to National Assembly Speaker Woo Won-shik's proposal for Constitutional reform, in light of the upcoming presidential election. But it came with a caveat as the Chair of the Democratic Party of Korea, Lee Jae-myung, is cautious as there are more important tasks at hand. "But right now, what's far more urgent and important is preventing the destruction of democracy. The immediate focus should be on ending the insurrection. I hope the People Power Party isn’t thinking of using constitutional reform as a way to simply move past this. But yes, reform is necessary." However, he confirmed that he agrees that certain aspects of the Constitution need to be changed, such as adding the spirit of the Gwangju May 18th pro-democratization movement to the Constitution, among other things. Laws need to be revised for this nationwide referendum to happen and Lee has agreed to get work done to make it possible alongside the presidential election in less than 60 days. In terms of the presidential term, Lee agreed on two four-year terms like the U.S. model. Meanwhile, the People Power Party welcomed the Constitution reform proposal, while saying that they're already working on the details from their side. "It's not just about dispersing power. The system must be restructured so checks and balances function properly. Just as presidential powers are being reviewed, the authority of the National Assembly must also be adjusted in a balanced way. Kwon said that as much as the presidential authority needs to be adjusted, the parliament's authority needs to be adjusted as well. At the moment, the parliament has impeachment motion power over four different branches of government, and Kwon says it has been imperialistic with its power recently, as the opposition holds the majority of the floor. He said no one expected this in 1987 when the current Constitution was passed, saying it needs to reflect the world we live in now. Speaker Woo, after the two leaders' comments, welcomed that the two main parties are on board with the Constitutional reform. But, as the DP leader was cautious, the referendum targeted for the next presidential election in less than 60 days can just be on what's agreed upon until then. "With presidential powers at the heart of the constitutional reform debate, voters heading to the polls in less than 60 days won't just be choosing the next president — they'll also be weighing each party’s vision for the presidency and its power. Especially in the wake of a push for martial law rule by a former president. Kim Do-yeon, Arirang News."

S. KOREA PREPARES FOR PRESIDENTIAL ELECTION

2025/04/07 17:30

Hope your workweek is off to a good start. It's Monday April 7th here in Seoul and you're watching Press Perspective. I'm Min Sunhee. Come early summer this year South Korea will have a new leadership at the top office after the strength of its democracy went on full display last week according to a number of foreign media outlets. For more I have Chloe Borgnon with French broadcaster France 24 Chloe it's great to have you here. I also have Thomas Maresca with American news agency UPI. Thomas welcome back. 1) Thomas, you also covered the Constitutional Court's verdict to uphold the presidential impeachment last Friday. Quite a number of foreign media outlets are linking this latest development to South Korea's democratic resilience. What more can you tell us about this perspective among the foreign press? 2) Chloe, the decision to uphold the presidential impeachment was unanimous. What are the broader implications of this reality according to the foreign press? 3) Thomas, Korea needs to hold an election within two months. What is the latest with regard to a potential date and related preparations by rival political parties? 4) Chloe, Reuters published a piece about the top contenders for the early presidential election with focus on six political figures. Let's go over the first three potential candidates: Lee Jae-myung, Han Dong-hoon, and Kim Moon-soo. For the sake of our viewers who may not be familiar with these figures, do tell us a bit about them as shared by Reuters. 5) And now Thomas, do tell us a bit about the final three contenders: Oh Se-hoon, Hong Joon-pyo, and Kim Dong-yeon . 6) Chloe, foreign press members say Yoon leaves behind a deeply divided country. Do you suppose the election will serve to start the healing process? 7) Thomas, what do you believe will be some of the urgent tasks for the next president of South Korea? 8) Chloe, in hindsight, what are the lessons to be learnt from the latest political developments here in Korea starting early last December? 9) And Thomas, what do you suppose may be the lessons to be learnt?