News

[Kulture Issue] The rise of Korean original musicals

2025/08/01 15:34

The Korean original musical "Maybe Happy Ending," which made its debut on Broadway last year and this year won six Tony Awards, has raised the global recognition of Korean musicals. Following that, this summer, a number of other Korean original productions are notable in the musical scene. Let's talk about those with culture critic, Professor Chie Hye-won at Kyung Hee University. Welcome back Professor Chie! Q1. We hear a lot about Korean original musicals, especially following the latest achievement of "Maybe Happy Ending", but let's start with a definition of what "original musicals" actually are. Q2. So, which Korean original musicals are currently generating positive word of mouth? Q3. These are all revivals. Works that have already been proven successful. Do you see any commonalities among recent original musicals? Q4. So, we're consistently seeing original musicals featuring prominent female characters. based on real-life figures and as we see in the case of Marie Curie and Frida, works that reinterpret foreign women from a Korean perspective. How do you explain this trend? Q5. Marie Curie has been staged in London's West End, and there is talk of Frida being staged overseas as well. What is most important for original musicals to be successful abroad? Q6. In the past, there was a bigger focus on licensed musicals from abroad, but now Korean original musicals created by Koreans from the story to the lyrics and composition. are making up a major part of the musical industry. What do you think is the appeal of Korean original musicals? Q7. As the variety of materials increases, the colors of music also seem to become much more varied. What do you think are the prominent trends or characteristics in the music of original musicals? Q8. Finally Professor Chie, do you see chances of a success as big as "Maybe Happy Ending" on the global stage? Thank you Professor Chie for your insights, have a wonderful weekend. Thank you Bella, have a great weekend and see you next week.

White House confirms reciprocal tariffs will be effective of Aug. 1

2025/08/01 13:34

U.S. President Donald Trump has now signed an executive order, setting tariffs for trading partners, including South Korea. The White House also officially confirmed that South Korea will face a 15% tariff rate, with the deal providing market access to American goods, including autos and rice. Park Jun-han has more. U.S. President Donald Trump on Thursday local time signed an executive order for the new reciprocal tariffs that take effect on August 1st. "But I do know that the trade team has been working around the clock to try to be in correspondence with as many countries as possible. But if they haven't heard from us yet, they will in the form of a letter or an executive order by midnight tonight." South Korea on Wednesday secured a last-minute deal to lower the reciprocal tariff from 25 percent to 15 percent. White House press secretary Karoline Leavitt said the agreement allows significant investment for the U.S. and historic market access to American goods. "And South Korea will pay a 15% tariff rate, including 15% on autos, while providing historic market access to American goods like autos and rice. Korea will purchase $100 billion in American energy by 2028, and the centerpiece of this deal is that South Korea has agreed to invest $350 billion at the president's direction to revitalize American industry." U.S. Treasury Secretary Scott Bessent, speaking on CNBC, described the agreement between South Korea and the U.S. as a "very good" one. Bessent said, "South Korea was a special case because they had an election, a new government. So they were not in the position to fully negotiate." "They presented a very good offer. President Trump moved the offer up a bit, and we reached a very good agreement." On the same day, the White House posted a photo of President Trump with the South Korean–U.S. trade delegation to social media, where it called the deal "historic." Trump also took to social media to say details on South Korea's investments will be formalized during a visit to the White House by President Lee Jae Myung, set to take place in the next two weeks. Park Jun-han, Arirang News.

[NEWs GEN] Garbage Gamechanger: How Korea's waste management is going global

2025/08/01 13:33

종량제 도입 30년, 경제적 가치 45조.. 선진화된 한국의 쓰레기 관리 시스템 #쓰레기 #종량제 #봉투 #처리 #폐기 #환경 #엠제코 #trash #payasyouthrow #bags #disposal #waste #environment #mzeco <div><br></div>

Trump says new trade deals in place with some countries

2025/08/01 11:41

Hours before reciprocal tariffs were set to take effect, U.S. President Donald Trump said Washington had made more trade deals. Meanwhile,.. the White House announced that Washington will up its tariffs for Canadian goods from 25 percent to 35 percent, while another 90-day extension will be in place for Mexico. Lee Seung-jae starts us off. Just hours before reciprocal tariffs were set to take effect, U.S. President Donald Trump announced on Thursday, that Washington had made some more trade deals. Speaking at an executive order signing ceremony at the White House, Trump told reporters that his trade deals are "making trillions of dollars" for his country, highlighting what he described as significant economic wins. Trump later announced a 25 percent tariff for India, 20 percent for Taiwan and a 30 percent rate for South Africa. Meanwhile,.. when asked about failure to reach a trade deal with Canada, Trump addressed speculation linking the breakdown to Canada's push for recognition of Palestinian statehood. "No, I didn't like what they said, but, you know, that's their opinion. I didn't like that. Not a deal breaker, but we haven't spoken to Canada today." However, shortly afterwards, the White House announced that Canada's tariff rate will be raised from 25 percent to 35 percent. The White House said the higher tariffs are in response to "continued inaction and retaliation," adding that Trump found it necessary to increase the duties to "effectively address the exisiting emergency." The Brazilian government on Thursday slammed the Trump administration's decision to impose a 50 percent tariff on its imports, calling it an unfair measure, and warned of possible retaliation if no resolution is reached. However, Brazil's Finance Minister Fernando Haddad told reporters that the tariff plan is "not as bad as expected," adding that the tariffs will also do harm to the American people, as it will drive up prices in the U.S. Meanwhile, the Brazilian government cited data from the American Chamber of Commerce in Brazil, noting that 694 Brazilian products exported to the U.S., making up 45 percent of total exports, are exempt from the tariffs. The new 50 percent tariffs are expected to impact roughly 35-point-9 percent of Brazil's exports to the U.S. Meanwhile, Mexican President Claudia Sheinbaum said on Thursday that her government had secured a 90-day extension to work on a trade deal, which will pause new tariffs. "We remain as we are, and it's 90 days to keep talking, holding dialogue and building a long-term agreement." Sheinbaum says the extension averted the 30 percent tariffs that were scheduled to take effect on Friday. She added that the new extension will also allow for Mexico to be exempt from the 25 percent tariffs imposed by President Trump earlier this year in response to the fentanyl crisis. Lee Seung-jae, Arirang News.

[Weather] Relentless heat continues, welcome relief on the way next week

2025/08/01 11:40

We're in the midst of a record-breaking heatwave. Seoul has now experienced a tropical night for 13 consecutive days, while Seogwipo on Jeju Island has had 17 straight. Heatwave warnings remain in effect across most of the country. Today seems to be a repeat of yesterday's conditions. A bit of cloud coverage was welcome in the capital area yesterday, but blazing sunshine will shine down nationwide today, boosting UV levels to very high levels. By the afternoon, Seoul and Daegu will climb to 36 degrees Celsius, Gwangju and Chuncheon getting up to 35 degrees. Some welcome news! A change is on the way. Rain next week will bring daytime temperatures to the low thirties in the capital area. Until then, if you're feeling drained from the ongoing heat, I mean who isn't take it easy, slow down your pace, and don't forget to drink plenty of water.

New world record announced for length of single flash of lightning

2025/08/01 11:39

Also in the U.S., the World Meteorological Organization officially certified on Thursday a new world record for the longest lightning flash. The bolt during a storm on October 22, 2017 stretched 829 kilometers from eastern Texas to near Kansas City, Missouri. Such a "megaflash" occurs in very large storm complexes, or mesoscale convective systems, that can span hundreds of kilometers and last for hours. It was measured using the National Oceanic and Atmospheric Administration's newest Geostationary Operational Environmental Satellite, combined with ground-based lightning networks. This flash surpasses the previous record of 768 kilometers, logged in April 2020, also over the southern U.S. plains.

White House unveils plans for new US$ 200 mil. ballroom

2025/08/01 11:39

In the U.S., the White House unveiled on Thursday plans to construct a 200-million-U.S.-dollar State Ballroom, marking the first structural addition to the main building since the Truman Balcony was added in 1948. The proposed ballroom, also known as "The People's House," will be approximately 8,360 square meters in size and accommodate up to 650 seated guests, far exceeding the current 200-person capacity of the East Room. Press Secretary Karoline Leavitt said construction is scheduled to begin this September and is expected to be completed before the end of President Trump's term in early 2029. Funding will come from Trump and other donors.

Ukraine parliament votes to restore anticorruption agencies after protests

2025/08/01 11:38

Over in Ukraine, the parliament voted unanimously to restore the independence of two key anti-corruption bodies, following mass protests. The bill was passed on Thursday, during a livestream broadcast of a parliamentary session, with a vote of 331 to 0, reinstating full independence for the National Anti-Corruption Bureau and the Specialized Anti-Corruption Prosecutor's Office. The decision nullified amendments passed on July 22 that had placed both agencies under the authority of the prosecutor-general. The decision led to some of the most significant protests since Russia's 2022 invasion, with thousands of young Ukrainians taking to the streets of Kyiv and other cities demanding retention of democratic norms. President Volodymyr Zelenskyy signed the bill into law just hours after the vote, calling the new legislation a guarantee of "normal, independent work for anti-corruption bodies and all law enforcement agencies in our state."

U.S. to deny visas to Palestinian officials

2025/08/01 11:38

Good morning, I'm Choi Chi-hee, and this is The World Now. The United States says it will deny visas for officials of the Palestinian Authority and members of the Palestine Liberation Organization. The U.S. State Department announced the sanctions on Thursday, under the Middle East Peace Commitments Act and the PLO Commitments Compliance Act. The measures formally deny visas to unspecified members of both the PA and PLO for their alleged efforts to "internationalize" the conflict with Israel, such as bringing cases to the International Criminal Court. They also coincide with moves by European and North American allies, including Canada, the United Kingdom, and France, to recognize Palestinian statehood at the September U.N. General Assembly. The White House, on the same day, made clear that President Trump "expressed his dissatisfaction and disagreement" with the three allied leaders, and views any recognition of Palestinian statehood as "rewarding Hamas."

Top Korean, U.S. diplomats reaffirm "resolute" commitment to N. Korea denuclearization, trilateral cooperation with Japan

2025/08/01 11:37

South Korea’s Foreign Minister Cho Hyun met with U.S. Secretary of State Marco Rubio in Washington on Thursday local time. This was the first foreign ministerial meeting since the launch of the Lee Jae Myung Administration. For more on what was talked about and what comes next, we have our correspondent Oh Soo-young on the line. Q1. Sooyoung. The top diplomats of Seoul and Washington held their first-ever discussion at their meeting in D.C.. Tell us more. Good morning. Foreign Minister Cho Hyun and his counterpart Marco Rubio met Thursday afternoon, very early in the morning here in Seoul. The two officials appear to have discussed the South Korea-U.S. alliance and broader security issues in the region. Seoul's Foreign Ministry says they exchanged views on North Korea, deeming it "necessary to strengthen cooperation" on Pyongyang, and agreed to an enhanced whole-of-government approach. They also agreed to strengthen trilateral cooperation between South Korea, the U.S., and Japan, based on the Seoul-Washington alliance. Washington's readout focused more on deterrence against North Korea, saying the two officials reaffirmed "resolute" commitment to the complete denuclearization of North Korea. The statement also expressed serious concern over North Korea’s growing military cooperation with Russia, and said Cho and Rubio both committed to the full implementation of international sanctions against Pyongyang. It also positioned Seoul and Washington's three-way cooperation with Tokyo as an effort to strengthen deterrence against "regional threats" while emphasizing the importance of peace and stability across the Taiwan Strait. Their talks followed the sudden conclusion of trade negotiations by finance and trade officials the day before, Cho and Rubio welcomed the bilateral trade agreement and pledged cooperation on supply chains and critical and emerging technologies. Seoul further emphasised a third pillar of partnership in advanced technologies, such as artificial intelligence, nuclear energy, and quantum technology, alongside security and trade cooperation. Q2. There's also talk of "alliance modernization" following the tariff agreement. What’s the latest on that? Right. Security issues were not substantively addressed in the recent trade negotiations. Initially, a so-called "package deal" covering both tariffs and security matters was touted. However, discussions on "alliance modernization" are now expected. The term refers to adjusting the role and scope of the Korea-U.S. alliance in line with changing strategic conditions and as Washington presses allies to contribute more towards their own security. Both the Foreign Minister and Defence Minister Ahn Gyu-back, who held a phone call with U.S. Secretary of Defense Pete Hegseth, have reportedly discussed alliance modernization. No specific outcomes have been announced yet. However, it is expected that the summit between Presidents Lee and Trump could serve as a starting point, with a potential 2+2 ministerial meeting to follow for detailed discussions. Trump has stated his meeting with Lee will take place within the next two weeks, and reportedly instructed Secretary Rubio to make arrangements without delay. So we can expect him to coordinate with Seoul, including with Foreign Minister Cho Hyun. Speaking with reporters after their meeting, the Korean foreign minister said the talks with Rubio were good and constructive, and that talks to prepare for the leaders' summit have now begun. Back to you Eunji. Thanks for that Sooyoung.

[On-point] South Korea reaches deal before the trade deadline — but is it a win?

2025/08/01 11:35

We're just a couple of hours away from the reciprocal tariffs taking effect. South Korea and the United States reached a trade deal yesterday, allowing Washington to impose a 15% tariff on Korean imports. For more on this, we're joined by Professor Greg Buchak, Professor of Finance at Stanford Graduate School of Business, Stanford University. High tariffs are set to take effect just after midnight on Friday, and U.S. trading partners that have yet to strike a deal are now engaged in frantic, last-minute talks. What's your overall assessment of the Trump administration's tariff policy? Do you think pressuring countries has been effective in what he wanted to achieve --such as countering China? South Korea and the U.S. have agreed to lower the tariff rate to 15%, with Seoul promising to invest 350 billion dollars in the United States. The Korean government says the deal puts South Korea on an equal, or even better footing than other countries and that it has helped remove trade uncertainties. What are your thoughts on the agreement compared to the deals Washington reached with other countries? South Korean officials claim that Seoul's offer to help revitalize the U.S. shipbuilding industry was a key factor in securing the tariff deal. What's your view on the significance of that contribution? Once the reciprocal tariffs take effect, how do you expect them to impact the U.S. economy and the broader global economic landscape? Alright Professor Buchak, thank you so much for your insight today. We appreciate it.

Public access to Cheong Wa Dae to be suspended starting Friday

2025/08/01 11:35

In line with President Lee Jae-myung's decision to move the presidential office back to the Cheong Wa Dae from Yongsan, public access to the compound will be completely suspended starting Friday. This marks the end of a 1-thousand-179-day period,.. during which the Cheong Wa Dae was open to the public, after former President Yoon Suk Yeol opened its gates to the public on May 10, 2022. During that time, nearly seven million people have visited the historic site. Interest surged in recent months after President Lee won the snap election in June, with the number of visitors in June more than tripling compared to the same period last year. Also, in the 40 days since the election,.. foot traffic to the Cheong Wa Dae jumped over 240 percent compared to a year ago.

S. Korea unveils sweeping tax reforms targeting fiscal sustainability

2025/08/01 11:34

The government unveiled its tax reform plan, to address a substantial shortfall in tax revenue.. and support economic growth. Our finance correspondent Moon Ji-young explains more. The 2025 tax reform bill introduces a mix of targeted tax credits for strategic industries and welfare, alongside adjustments to corporate and capital gains taxes. "Over the past three years, our tax revenue base has weakened rapidly, leading to a significant drop in the tax burden ratio. Therefore, this year's tax reform bill prioritizes reinforcing the weakened tax revenue base for fiscal sustainability, while also supporting economic strength and stabilizing people's livelihoods" The reform package aims to enhance tax credits for R&D and investment in future strategic industries, including AI. Furthermore, to enhance K-content competitiveness, tax credits for webtoons will be newly introduced, and tax support for video content creation will be expanded. Beyond these targeted incentives, the framework includes tax cuts designed to encourage corporate payouts and boost the stock market. Specifically, to encourage high dividends, a separate taxation system for dividend income from high-dividend companies is being introduced. This approach excludes these dividends from the comprehensive financial income tax base, allowing earnings from stock dividends to be taxed independently, rather than combined with other income. Despite the debate over tax cuts for the super-rich, a 35 percent tax rate is expected to be applied to the highest dividend income bracket. On the other hand, the bill aims to restore tax equity and rebuild the nation's revenue base based on the principle of ability to pay. The country's corporate tax rate will be raised by one percentage point across the board, with the top corporate rate increasing to 25 percent, effectively reversing a cut introduced by the previous administration. The bill also tightens capital gains tax rules by lowering the threshold for major shareholders. While currently only those holding 5 billion won, or roughly 3-point-6 million U.S. dollars, in a single listed stock are taxed, that threshold will be reduced to 1 billion won, or just under 720 thousand dollars. Tax support will be expanded for low-and middle-income households, with measures such as an increase in the income deduction limit for credit card use by up to 500,000 won, or roughly 360 dollars, depending on the number of children for families. The tax burden on self-employed individuals and small business owners is also expected to be alleviated. The bill will first go through Cabinet meetings before being submitted to the National Assembly for final approval. Moon Ji-young. Arirang News.

STOCK&FX

2025/07/31 22:43

2025. 7. 31. KOREAN STOCK MARKET KOSPI : 3,245.44 ▼9.03 -0.28% KOSDAQ : 805.24 ▲1.57 +0.20% KOSPI200 : 438.60 ▼1.21 -0.28% ASIAN STOCK MARKET NIKKEI225 : 41,069.82 ▲415.12 +1.02% HANG SENG : 24,773.33 ▼403.60 -1.60% SHANGHAI : 3,573.21 ▼42.50 -1.18% WALL STREET (July 30) DOW JONES : 44,461.28 ▼171.71 -0.38% NASDAQ : 21,129.67 ▲31.38 +0.15% S&P500 : 6,362.90 ▼7.96 -0.12% EXCHANGE RATE USD : 1,387.00 (+3.90) JPY : 932.44 (-2.24) CNY : 192.66 (+0.03) EUR : 1,588.25 (-9.51)

S. Korea and U.S. agree to lower 'reciprocal' tariffs to 15%

2025/07/31 22:42

We begin with the tariff deal sealed between South Korea and the U.S. "Reciprocal" tariffs have been set at 15 percent for South Korea in exchange for the country's billions of dollars worth of investment in the U.S. Park Jun-han starts us off. South Korea and the U.S. announced a major tariff agreement on Wednesday, local time, to lower "reciprocal" tariffs from 25 percent to 15 percent. The deal, however, required South Korea to commit to a 350 billion U.S. dollar investment package. The 350 billion dollars will be in the form of an investment vehicle, and will be spent through equity investments, loans, and credit guarantees. An additional 100 billion dollars will be spent on purchasing U.S. energy, mostly liquefied natural gas. The South Korean government said sector-specific tariffs involving semiconductors and pharmaceuticals are guaranteed most-favored-nation status, ensuring treatment as favorable as that afforded to other nations. So we've made sure that if we face tariffs in the future on things like semiconductors or pharmaceuticals, we'll receive the same treatment as most-favored-nation level, ensuring we're not at a disadvantage compared to other countries' agreements. Through the deal, tariffs on automobiles have also been reduced from the current 25 percent to 15 percent. Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol commented after the agreement that South Korea's shipbuilding project — which involves large-scale investments by South Korean private shipbuilders in the U.S. — played a key role in the tariff negotiations. "The most notable part of today's agreement is the 150 billion U.S. dollars South Korea-U.S. shipbuilding cooperation package, a project called "Make American Shipbuilding Great Again." This agreement will fund new US shipyard construction, workforce training, supply chain rebuilding, and ship maintenance, leveraging South Korea's shipbuilding expertise. The remaining 200 billion dollars will be spent to support strategic sectors that are closely related to the country's economic security. Those sectors include semiconductors, batteries, nuclear energy, biotechnology and critical minerals. South Korea also pledged to purchase 100 billion dollars worth of U.S. energy, primarily liquefied natural gas, over four years, redirecting existing import needs without any added economic burden. The last-minute tariffs agreement has reduced uncertainty for South Korean companies, which account for 19 percent of the country's global exports, ensuring they compete on equal or better terms than their rivals. Further details about the deal will be finalized in ongoing talks. Park Jun-han, Arirang News.

[Weather] Searing heat with strong UV rays nationwide

2025/07/31 22:41

Searing heat continues to grip the entire nation. Tomorrow brings more of the same — scorching sun, sweltering air, and no sign of relief just yet. The extreme heat will persist, with daytime temperatures once again reaching above 35 degrees in many regions. Many of us in the capital area felt relief today thanks to that cloud coverage. But there will be nothing but sunshine tomorrow with very strong UV rays nationwide. Brace for another sweaty night, and it looks like here in the capital area is having the roughest summer this year with a low of 28 degrees Celsius in Seoul, Daegu begins the day at 24 degrees. By the afternoon, most regions will see highs soaring to 36 degrees Celsius. The intense heat is here to stay. Then, around the middle of next week, rainfall in the central regions may help to ease the extreme heat that's gripped the nation for weeks. That's Korea for you, here's a look at the international weather conditions.

As humanitarian crisis intensifies in Gaza, more countries state the need to recognize State of Palestine as a country

2025/07/31 22:41

Another shooting took place in Gaza as people queued up for food, leaving at least 48 dead. This comes as Canada has outspokenly stated its intentions to formally recognize the State of Palestine. Ahn Sung-jin has the details. Canada says it plans to join several countries in formally recognizing Palestine as a state. According to Prime Minister Mark Carney, during a cabinet meeting on Wednesday, Canada intends to do so at a meeting of the UN General Assembly in September this year, as long as preconditions are met. "This intention is predicated on the Palestinian Authority's commitment to much-needed reforms, including commitments by the Palestinian Authority's President Abbas, to fundamentally reform its governance, to hold general elections in 2026, in which Hamas can play no part, and to demilitarize the Palestinian state." Canada also signed the New York Call, a joint statement of the ministers of foreign affairs from 15 countries, including Australia, France, and Spain, that calls for an immediate ceasefire, release of hostages, and a two-state solution where Israel and Palestine live within secure and recognized borders. Conditions in Gaza remain dire. Israeli soldiers reportedly killed at least 48 Palestinians. According to Associated Press on Wednesday, IDF soldiers opened fire on a crowd at a key gateway for aid trucks at a checkpoint in the north of the Strip. This incident comes as Trump's special envoy to the Middle East, Steve Witkoff, is headed to Israel for talks on the humanitarian crisis in Gaza. UN agencies have repeatedly stated that the population has already exceeded the threshold for famine in the Gaza Strip. Ahn Sung-jin, Arirang News.

S. Korea unveils sweeping tax reforms targeting fiscal sustainability

2025/07/31 22:40

The government unveiled its 2025 tax reform framework, aiming to both rebuild the nation's weakened revenue base for fiscal sustainability, and support economic growth and livelihoods. Our finance correspondent Moon Ji-young explains. The 2025 tax reform bill introduces a mix of targeted tax credits for strategic industries and welfare, alongside adjustments to corporate and capital gains taxes. "Over the past three years, our tax revenue base has weakened rapidly, leading to a significant drop in the tax burden ratio. Therefore, this year's tax reform bill prioritizes reinforcing the weakened tax revenue base for fiscal sustainability, while also supporting economic strength and stabilizing people's livelihoods" The reform package aims to enhance tax credits for R&D and investment in future strategic industries, including AI. Furthermore, to enhance K-content competitiveness, tax credits for webtoons will be newly introduced, and tax support for video content creation will be expanded. Beyond these targeted incentives, the framework includes tax cuts designed to encourage corporate payouts and boost the stock market. Specifically, to encourage high dividends, a separate taxation system for dividend income from high-dividend companies is being introduced. This approach excludes these dividends from the comprehensive financial income tax base, allowing earnings from stock dividends to be taxed independently, rather than combined with other income. Despite the debate over tax cuts for the super-rich, a 35 percent tax rate is expected to be applied to the highest dividend income bracket. On the other hand, the bill aims to restore tax equity and rebuild the nation's revenue base based on the principle of ability to pay. The country's corporate tax rate will be raised by one percentage point across the board, with the top corporate rate increasing to 25 percent, effectively reversing a cut introduced by the previous administration. The bill also tightens capital gains tax rules by lowering the threshold for major shareholders. While currently only those holding 5 billion won, or roughly 3-point-6 million U.S. dollars, in a single listed stock are taxed, that threshold will be reduced to 1 billion won, or just under 720 thousand dollars. Tax support will be expanded for low-and middle-income households, with measures such as an increase in the income deduction limit for credit card use by up to 50억 won, or roughly 360 dollars, depending on the number of children for families. The tax burden on self-employed individuals and small business owners is also expected to be alleviated. The bill will first go through Cabinet meetings before being submitted to the National Assembly for final approval. Moon Ji-young. Arirang News.

Samsung Electronics Q2 operating profit plunges 55% y/y due to low semiconductor earnings

2025/07/31 22:38

Samsung Electronics on Thursday reported a second-quarter operating profit of 3-point-4 billion U.S. dollars. That's a 55 percent plunge from a year ago, and over 21 percent lower than market expectations. In its regulatory filing, the company also recorded a net income of 5-point-1 trillion won which marks a 48 percent drop on-year. This was largely due to sluggish demand for high bandwidth memory chips. The semiconductor division posted an operating profit of only 400 billion won, which is the lowest since the fourth-quarter of 2023. However, despite weak profits, overall chip sales climbed 11 percent on-year, driven by demand for premium server chips and increased foundry orders.

June sees rebound in production, consumer spending also rises

2025/07/31 22:38

According to data released by Statistics Korea on Thursday, South Korea's industrial output rebounded in June for the first time in three months. This was largely thanks to strong performances in the semiconductor and automobile sectors. Consumer spending also turned upward for the first time in four months, with increased sales of clothing and cosmetics. However, facility investment fell for the fourth consecutive month due to a decline in transportation equipment investment, marking the longest downturn in seven years. Overall, the all-industry production index for June stood at 113-point-8, an increase of 1-point-2 percent from the previous month.