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[Kulture Issue] Popularity of sports-themed K-content

[Kulture Issue] Popularity of sports-themed K-content

2025/04/07 14:00

Recent movies revolving around sports have been captivating domestic audiences. Let's take a look at what’s behind the popularity of sports-themed content with culture critic Professor Chie Hye-won at Kyung Hee University’s Arts and Cultural Management Program. Welcome Professor Chie! Q1-1. “The Match“ (“Seungbu“), which deals with the board game Go, or “baduk“ in Korean, (and is considered a sport), and the golf film “Lobby“ are ranked first and second at the domestic box office, respectively. Please, tell us first what the movies are about. Let’s start with “The Match.“ Q1-2. What’s “Lobby” about? The title seems to tell us it’s not just about golf? Q2. So, let’s talk more about Go or “baduk“. It’s a very interesting topic, but also a challenging game that requires lots of brain. Are there any other Go-themed movies? Go does seem to appear quite frequently (in many cases casually) in scenes of various K-content. Why is that? Q3. When it comes to golf, this sport has been tremendously popular in Korea in recent years, even being a major theme on variety of entertainment programs on TV. What’s behind the popularity of golf as a means of content? Q4. Sports was once considered an unpopular topic in Korea in TV and movies, so why has it gained so much traction in recent years? Q5. So, which Korean dramas and movies revolving around sports have stood out and received praise? Q6. What are some of the things to keep in mind when using sports as a main theme in content? Q7. What are the strengths of combining Korean content with the sports genre, and how can we make it more appealing to a wider audience?

[K-wave] Small library in Gyeongbokgung Palace, welcoming spring

[K-wave] Small library in Gyeongbokgung Palace, welcoming spring

2025/04/07 14:00

The delights of spring are coming from all around including Gyeongbokgung Palace, a royal palace in the center of Seoul. Along with taking a tour around the historic place visitors can now indulge in reading in the innermost part of the palace thanks to the opening of a small library. Our Choi Soo-hyung takes us around. 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-Enter] Jimin the chart landlord tops Spotify's list for 90 weeks

[K-Enter] Jimin the chart landlord tops Spotify's list for 90 weeks

2025/04/07 14:00

So, for our daily dose of K-enter news with you Walter, we start off with BTS's Jimin setting more records on the largest music streaming platform Spotify. How do you become one of the most popular 'Weekly Top Artists' on Spotify's South Korean charts for 90 weeks? Call yourself Jimin, release a couple of hit songs and just sit back and watch. According to Spotify's announcement on Friday, this marks the first and only time in the chart's history that any artist has accomplished this milestone. Jimin first entered the "Korea Weekly Top Artist" chart in April 2022 with the original soundtrack "With You" from the tvN drama "Our Blues". As of April 3, 2025, he has charted for a total of 139 weeks, holding the No. 1 position for 90 of those weeks. Jimin has also seen success with his title track "Who" from his second album "Muse" on Spotify Korea's 'Daily Top Songs' chart. Congratulations to Jimin, let's see if he can make it to 100 weeks! Moving onto boy group SEVENTEEN also becoming the first to achieve a milestone in the name of K-pop. On Friday, K-pop boy group SEVENTEEN took to the stage as a headliner at the major music festival "Tecate Pa'l Norte 2025" held at Fundidora Park in Monterrey, Mexico. They are the first K-pop artists to ever perform at this festival. During their approximately one-hour performance, they showcased hit songs such as "LOVE, MONEY, FAME," "Left & Right," "HOT" and "God of Music." Pa'l Norte is one of the largest music festivals in Latin America. This year, SEVENTEEN shared the headliner lineup with global stars including Olivia Rodrigo, Green Day and Fall Out Boy. Let's hope to see more and more K-pop artists being invited to new and exciting music festivals in the future. Next up we have a 10th anniversary celebration concert for one group. Last week we actually touched upon how this year was the 10th anniversary for many groups, but who are you going to mention? I am talking about DAY6, who will be performing at the KSPO Dome for the first time, 10 years after their debut. Their agency, JYP Entertainment, announced the finale of "DAY6's 3RD World Tour Forever Young" will take place right here in Seoul. The concerts will be held over the span of six days from May 9 through 11 and May 16 through 18. This will be DAY6’s first time performing at the KSPO Dome, so the group is making thorough preparations to make sure the crowd leave amazed. They plan to open the entire venue in a 360-degree format so fans can enjoy the performance from every angle. The concert is set to be a grand finale to their large-scale world tour, they are currently touring in Australia. And last but certainly not least, we have some news of a K-pop star with his first solo album. On Monday, NCT member Mark is releasing his first solo album titled "The Firstfruit", officially marking his debut as a solo artist. The full album will be available on major music platforms at 6 p.m. Korea time and the music video for the title track “1999” will be released simultaneously on the SMTOWN YouTube channel and other platforms. The album features 13 tracks themed around four cities that have shaped Mark’s life: his hometown Toronto, the first city he moved to, New York, the place where he spent his school years, Vancouver, and Seoul, where he’s pursuing his dream as an artist. Mark will hold a showcase event for The Firstfruit at 8 p.m. on Monday at the Seongsu Cultural and Arts Center.

K-wave AI News

K-wave AI News

2025/04/07 14:00

Hello and welcome to your AI guide to the latest cultural updates from Korea. Here's our top story. Gangneung City in Gangwon-do Province was bustling with visitors over the weekend, drawn to its popular cherry blossom spots. Gyeongpodae Pavilion and Gyeongpoho Lake were filled with tourists exploring the 'Gyeongpo Cherry Blossom Festival'—one of the city's signature spring events known for its stunning floral scenery. Although official performances and celebratory events were canceled in light of recent large-scale wildfires, the festival drew large crowds eager to embrace the spring atmosphere. The festival runs through April 9, with diverse programs like a 'hanbok outing' and a flea market also in store. To further boost tourism, Gangneung City has released a map of the cherry blossom hotspots, featuring not only well-known locations but also hidden points throughout the region. Gimhae City in Gyeongsangnam-do Province will kick off its largest annual event, the '2025 Gaya Culture Festival,' this Thursday. It will be held at the UNESCO-listed Daeseong-dong Tombs and the surrounding Sulleungwon area. Festival highlights include "Gaya Fantasia," a dynamic fusion performance that blends traditional Korean music with modern vocals, belly dancing, hanbok showcases, and more. A media façade installation will illuminate the historic tomb complex at night, vividly bringing to life the rich legends of the ancient Gaya Kingdom through cutting-edge technology. Gimhae City has canceled fireworks displays out of respect for recent wildfire victims. Korea's southern port city of Busan welcomed a record 30,165 foreign medical tourists last year, the highest level to date. The figure marks a 134% increase from 2023 and is the third highest nationwide, following Seoul and Gyeonggi-do Province. According to the Korea Health Industry Development Institute, the majority of medical tourists to Busan came from Japan, Taiwan, and China. Notably, the number of Taiwanese visitors soared by a whopping 1,840% on-year. That's all from me. Keep it tuned to the Kulture Wave.

[Short-form] “Sanggwabang,” where royal desserts are made

[Short-form] “Sanggwabang,” where royal desserts are made

2025/04/07 14:00

Step into Sanggwabang and savor the sophisticated tastes of the Joseon royal court!

On-point: Rival parties gear up for early election & new administration

On-point: Rival parties gear up for early election & new administration

2025/04/07 10:00

Now that South Korea took the weekend to digest and cool off following Friday's final verdict, politicians are now gearing up to map out a new administration. Let us discuss more with Professor Mason Richey. Good morning. 1. I'd like to start with the National Assembly speaker's proposal on a referendum on the election to revise the Constitution. 2. The leader of the Democratic Party of Korea, Lee Jae-myung, is one of the top contenders for the upcoming presidential election, but why has he kept a low profile since the final verdict came out? 3. When will he quit his position as the party's leader? 4. The People Power Party took the weekend to reflect on the ruling, but there's not much time to take things slowly now that we only have 60 days, right? 5. I asked you this on Friday when the final verdict came out. Professor Richey thank you for sharing your insight with us.

"No postponing" of tariffs: Lutnick

"No postponing" of tariffs: Lutnick

2025/04/07 10:00

And just hours before the shock to the South Korean stock market on Monday, the U.S. confirmed the recent reciprocal tariffs imposed by Washington will not be delayed and will begin on April 9th. Lee Seung-jae has the details. U.S. Commerce Secretary Howard Lutnick said Sunday that U.S. President Donald Trump will go ahead with reciprocal tariffs announced last week, stressing that there would be no postponement. Speaking to CBS News the commerce secretary stressed the Trump administration's move to close all potential loopholes in the tariff policy. Reaffirming that the sweeping reciprocal tariffs will go into effect on April 9th, as scheduled, Lutnick shot down any idea that Trump would pause for negotiations, saying tariffs would remain in place for "days and weeks." Meanwhile,.. as Wall Street took a dive after the announcement of the reciprocal tariffs last week, U.S. Treasury Secretary Scott Bessent dismissed the idea that the levies would cause a recession in the U.S. Speaking to NBC on Sunday, Bessent said he wasn't worried about last week's stock market sell-off, adding that the market has consistently underestimated President Trump. He stressed that there's no reason that the U.S. would have to "price in a recession." Bessent also said that 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. "What we have is we have a set of tariffs based on what they've been charging us. That's reciprocal. And those tariffs have come in and every country's called us. That's the beauty of what we do. We put ourselves in the driver's seat. If we would have asked some of these countries, almost most of these countries, to do us a favor, they would have said no. Now they'll do anything for us." Neither Bessent nor any other U.S official named the countries that have begun holding talks with Washington over the reciprocal tariffs. Lee Seung-jae, Arirang News.

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

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

2025/04/07 10:00

U.S. President Donald Trump's tariff announcements have triggered massive sell-offs across South Korea's stock market. As of 9:02 AM on Monday, the KOSPI index stood at 2-thousand-352-point-72, down more than 4 percent from the previous session, while the tech-heavy KOSDAQ index fell by more than 3 percent. And the KOSPI 200 futures index fell 5-point-19 percent, triggering a sell-side sidecar for the first time in eight months at 9:12 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 one minute.

NA Speaker calls for Constitutional referendum during next presidential election

NA Speaker calls for Constitutional referendum during next presidential election

2025/04/07 10:00

And over the weekend, National Assembly Speaker Woo Won-shik suggested a referendum on the election day to revise the Constitution. It will be aimed at reorganizing power structure he says. Kim Do-yeon reports. Calls for constitutional reform surface almost every election season in South Korea. But this time, National Assembly Speaker Woo Won-shik says it must happen and soon. He is pushing for a nationwide referendum to take place within the next 60 days, alongside the upcoming presidential election triggered by President Yoon Suk Yeol's impeachment. Speaking on Sunday, Woo emphasized that although the declaration of martial law was ultimately blocked, it revealed serious vulnerabilities in the country's democracy. "To break this vicious cycle, we must pave the way before the new president's term begins. Now is the perfect time to achieve constitutional reform, as the public's call for decentralization of power, popular sovereignty, and national unity has never been clearer. I propose holding a national referendum on constitutional amendment on the same day as the upcoming presidential election." To move the process forward, Speaker Woo also proposed launching a special committee dedicated to constitutional amendments. He said the first round of reform, aimed at aligning with the presidential election timeline, would focus on the division of power. A second round of proposed changes could follow during next year's nationwide local elections. When asked whether he was referring to a four-year presidential term with the possibility of re-election -similar to the U.S. model -Woo said it's an idea both major parties appear open to. However, he emphasized that the specifics would be discussed within the newly proposed committee. On the other hand, the leadership and senior members of the Democratic Party of Korea also the party the Speaker is from said it's not the time for this reform yet. While the Chair of the DP, Lee Jae-myung, did not directly respond, those close to him said that now is the time to put effort into holding those who started the insurrection responsible. The People Power Party interim chair, however, said the Party is unchanged in its stance on Constitutional Reform and welcomed the idea. Kwon Young-se said that the floor leader will come up with those joining the special committee proposed by the Speaker, and all details will be discussed there. Kim Do-yeon, Arirang News.

Presidential race heats up as rival parties begin preparations for two-month race

Presidential race heats up as rival parties begin preparations for two-month race

2025/04/07 10:00

A snap presidential election following former President Yoon Suk Yeol's dismissal last week has reportedly been set for June 3rd. And presidential race is heating up as there are now less than two months to elect a new leader. Shin Ha-young reports. 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 on Sunday decided to continue with its current leadership, with interim leader Kwon Young-se and floor leader Kweon Seong-dong set to stay. Some argued they should step down over the president's impeachment, but most felt it was better to keep them to help stabilize the party and prepare for the upcoming election. "The party lawmakers reaffirmed their confidence in the current leadership to carry out the remaining presidential election process." The PPP also decided to form an election committee on Monday for the upcoming presidential primary. 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, with official announcements expected as early as Monday. Shin Ha-young, Arirang News.

[Weather] Large daily temperature swings under sunny skies with decent air quality

[Weather] Large daily temperature swings under sunny skies with decent air quality

2025/04/07 10:00

Stunning spring flowers are welcoming the new week. Cherry blossoms have officially begun to bloom here in the capital, painting the city in beautiful shades of pink. However, please be mindful of the wide temperature gap between day and night. In the afternoon, temperatures will rise to 20 degrees Celsius in Seoul and 24 degrees Celsius in Daegu, feeling more like the end of April in most parts of Korea under sunny skies with decent air quality. That's thanks to Saturday's rain that washed away lingering dust and also eased the dryness in the air. Then there will be late night spotty rain in central parts of Korea, but the amount will be less than 5 millimeters. Speaking of which, rain is in the forecast in central regions on Wednesday afternoon, spreading nationwide through Thursday dawn, then another band of rain is in the forecast for Saturday! Meanwhile, cherry blossoms are expected to reach full bloom across many areas this week. So make the most of it if you can!

Minke whale spotted in Long Beach harbor found dead

Minke whale spotted in Long Beach harbor found dead

2025/04/07 10:00

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.

At least 22 dead as DR Congo's capital Kinshasa hit by severe flooding

At least 22 dead as DR Congo's capital Kinshasa hit by severe flooding

2025/04/07 10:00

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.

UK MPs denied entry, deported from Israel

UK MPs denied entry, deported from Israel

2025/04/07 10:00

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."

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

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

2025/04/07 10:00

Let's start in the United States, where the country has announced the revocation of visas held by South Sudanese citizens. Tell us more. 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.

Jinhae Gunhangjae: A city filled with cherry blossoms

Jinhae Gunhangjae: A city filled with cherry blossoms

2025/04/07 10:00

Cherry blossoms are in full bloom here in South Korea, with the country's biggest cherry blossom festival having taken place this past week. Our Ahn Sung-jin takes us down to Changwon city. Spring has returned. Streets filled with cherry blossoms greet those who have made their way to Jinhae-gu district in the south coast city of Changwon. The 63rd Jinhae Gunhangjae, which lasts for 9 days, is the mecca of spring cherry blossoms, with more than 2 million visitors every year. "The cherry blossom, a symbol of spring, is already approaching its peak here. People are out with their family and friends to enjoy the beautiful colors." "We're so happy to be back in Jinhae. We were here in 2013, the two of us, and now we are here with our three kids. Beautiful weather and cherry blossoms are in full bloom. It's beautiful." "I'm so proud that in our country, and here in Jinhae, there is such a beautiful spring blossom path." "We are in our last year of high school so we originally came out here for graduation photos, but it feels so refreshing to see all these pretty blossoms." The town's top cherry blossom spots including Gyeonghwa Station, an old, closed-down railway station and its train tracks, as well as the Yeojwacheon stream. Most areas in the south of the country have seen cherry blossoms bloom, yet with the sudden colder breeze in some areas, especially up north, they still need some time to fully bloom. Following the recent devastating wildfires in Gyeongsangbuk-do province, the festival has been reduced in scale. However, the festival still offers ample scenery while promoting local culture and boosting business in the small town. So for those who missed out this time around, make sure to be ready for next year. Ahn Sung-jin, Arirang News, Jinhae.

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

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

2025/04/07 10:00

G7 foreign ministers have raised concerns over China's recent military drills around Taiwan. In a joint statement released by the top envoys, they described Beijing's recent military drills as provocative and destabilizing and called for dialogue for a "peaceful resolution of issues." The foreign ministers said the "increasingly frequent" activities are raising cross-Strait tensions," adding that they are also putting "global security and prosperity" at risk. Last week, the Chinese military concluded two days of war games around Taiwan, involving long-range, live-fire drills.

NA Speaker calls for Constitutional referendum during next presidential election

NA Speaker calls for Constitutional referendum during next presidential election

2025/04/06 18:00

As the country enters the race for an early presidential election, Assembly Speaker Woo Won-shik today proposed a referendum on the election day to revise the Constitution. It will be aimed at reorganizing power structure. Our Kim Do-yeon reports. Calls for constitutional reform surface almost every election season in South Korea. But this time, National Assembly Speaker Woo Won-shik says it must happen and soon. He is pushing for a nationwide referendum to take place within the next 60 days, alongside the upcoming presidential election triggered by President Yoon Suk Yeol's impeachment. Speaking on Sunday, Woo emphasized that although the declaration of martial law was ultimately blocked, it revealed serious vulnerabilities in the country's democracy. "To break this vicious cycle, we must pave the way before the new president's term begins. Now is the perfect time to achieve constitutional reform, as the public's call for decentralization of power, popular sovereignty, and national unity has never been clearer. I propose holding a national referendum on constitutional amendment on the same day as the upcoming presidential election." To move the process forward, Speaker Woo also proposed launching a special committee dedicated to constitutional amendments. He said the first round of reform, aimed at aligning with the presidential election timeline, would focus on the division of power. A second round of proposed changes could follow during next year's nationwide local elections. When asked whether he was referring to a four-year presidential term with the possibility of re-election -similar to the U.S. model -Woo said it's an idea both major parties appear open to. However, he emphasized that the specifics would be discussed within the newly proposed committee. In the meantime, the Democratic Party of Korea held a press conference, announcing that preparations for the upcoming presidential election are now underway. Speaking to reporters on Sunday, DP Secretary General Kim Yun-duck said that while there are no specific updates yet, the party is taking care of the practical aspects needed to ensure a smooth campaign launch once the election date is set. He also urged Acting President Han Duck-soo to announce the date without delay. The People Power Party also held a closed-door full-floor meeting on Sunday. Key agenda items likely included setting the rules for the party's presidential primary and addressing the fallout from the impeachment of its former leader. Unlike the Democratic Party, the PPP has no clear frontrunner for the upcoming presidential race. Meanwhile, following the Constitutional Court's decision to uphold the impeachment on Friday, Acting President Han Duck-soo is expected to announce the presidential election date during Tuesday's Cabinet meeting. Most expect the vote to be held on June 3rd the final day within the 60-day limit set by law. Kim Do-yeon, Arirang News.

“Hands off!”: Mass protests erupt across U.S. against Trump’s leadership

“Hands off!”: Mass protests erupt across U.S. against Trump’s leadership

2025/04/06 18:00

Protesters gathered in more than a thousand locations across the United States in what has become the largest show of opposition since President Trump's inauguration. More than 150 civil groups united on Saturday for rallies under the banner of the "Hands Off" movement, voicing strong objections to his administration's agenda. Key points of contention included federal downsizing, immigrant deportations, and proposed cuts to healthcare programs. Solidarity demonstrations also broke out in cities around the world, including London, Paris, and Berlin, just days after Trump announced sweeping reciprocal tariffs targeting nearly every nation.

Seoul weighs tariff strategy, considers relief for auto sector

Seoul weighs tariff strategy, considers relief for auto sector

2025/04/06 18:00

Korea is reviewing options to tackle U.S. President Trump's major tariffs on America's trading partners. Separately, it's preparing a financial support package worth 2-billion dollars to help industries hit by the trade war. Our Moon Hye-ryeon has the details. As the United States imposes a 25 percent reciprocal tariff on South Korean goods, Seoul is cautiously preparing its negotiation strategy -including plans to dispatch its top trade official to Washington. The government is reportedly analyzing broader trade dynamics, as the U.S. appears to have based the new tariffs on trade surpluses rather than a detailed policy review. With countries like Vietnam also facing steep duties, companies such as Samsung -which produces more than half its global smartphone supply there -may be forced to restructure their supply chains. Seoul is closely watching how other major players, including Japan and the European Union, approach negotiations with Washington, all while seeking to reduce its trade surplus with the U.S. without undermining the foundations of its export-driven economy. In response to what officials are calling a "tariff shock," the South Korean government is preparing a financial support package worth nearly 3 trillion Korean won -or over 2 billion U.S. dollars -aimed at stabilizing key industries hit hardest, including automobiles and auto parts. The package, expected to roll out within the next week, will be delivered through state-run policy finance institutions such as the Korea Development Bank. Automobiles remain South Korea's top export to the United States, with nearly half of the country's total auto shipments headed there last year. Auto parts exports to the U.S. also hit a record high, underscoring the critical role of these sectors in bilateral trade. Amid these developments, domestic banks are rapidly tightening credit risk controls and reassessing their loan portfolios. In a notable example, one bank recently reclassified the secondary battery industry as high-risk -a move that signals a broader shift in risk assessment across the financial sector. With U.S. tariff policies continuing to evolve and uncertainty deepening, South Korean authorities and financial institutions are bracing for prolonged economic turbulence. Moon Hye-ryeon, Arirang News.

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