News

U.S. interested in S. Korea's proposal on shipbuilding, semiconductor cooperation: trade minister

2025/07/11 11:36

Seoul's top trade negotiator said Thursday that Washington has shown interest in Seoul's proposal for manufacturing cooperation during their recent talks, especially in the shipbuilding and semiconductor sectors. According to Seoul's trade minister Yeo Han-koo during his trip to Washington, he held talks with U.S. Commerce Secretary Howard Lutnick, where he stressed South Korea's commitment to deepening manufacturing ties. The minister also called on the Trump administration to grant "favorable treatment" to South Korean companies when considering tariffs on imported cars, steel, and other imported goods. Yeo said the U.S. side was interested in how Korean companies can contribute to the U.S.'s goal of rebuilding its manufacturing sector.

President Lee says coexistence with N. Korea is key to nat'l security

2025/07/11 11:34

President Lee Jae Myung chaired his first National Security Council meeting on Thursday afternoon. The meeting served as an opportunity to review security priorities for the second half of the year, with North Korea-related issues being one of the key items on the agenda. Our Presidential Office correspondent Song Yoo-jin reports. South Korean President Lee Jae Myung says peaceful coexistence with North Korea is "the most realistic and practical" path to safeguarding national security. He made the remarks during his first National Security Council meeting on Thursday. The President has already taken steps to de-escalate tensions, including suspending loudspeaker broadcasts along the inter-Korean border, a move that prompted the North to halt its propaganda campaign. The administration says it aims to build on that momentum. "The government will do everything it can to help people feel the Korean Peninsula is becoming more peaceful and secure. There were discussions on ways to restore severed communication channels and links between the two Koreas." This is in line with how President Lee views the path to safety. "The President noted that in matters of security, prevention is always more important than responding afterward." When asked whether the meeting covered trade talks with the United States, Kang said the discussions explored a range of options, with national interests as the top priority. South Korea is pursuing what it calls a "package deal," which was discussed earlier this week in Washington between National Security Adviser Wi Sung-lac and his American counterpart, Marco Rubio. "Talks include issues across the board, including trade, investment, purchasing goods, and security. We suggested taking all this into a "package" to make progress in negotiations." Thursday's meeting, which lasted over two hours, was attended by the Prime Minister, senior officials from the ministries of foreign affairs, unification, defense, and interior, as well as the National Intelligence Service and the Office of National Security. Song Yoo-jin, Arirang News.

Stock

2025/07/10 23:45

2025. 7. 10. KOREAN STOCK MARKET KOSPI : 3,183.23 ▲49.49 +1.58% KOSDAQ : 797.70 ▲7.34 +0.93% KOSPI200 : 428.42 ▲6.40 +1.52% ASIAN STOCK MARKET NIKKEI225 : 39,646.36 ▼174.92 -0.44% HANG SENG : 24,028.37 ▲136.05 +0.57% SHANGHAI : 3,509.68 ▲16.63 +0.48% WALL STREET (July 9) DOW JONES : 44,458.30 ▲217.54 +0.49% NASDAQ : 20,611.34 ▲192.87 +0.94% S&P500 : 6,263.26 ▲37.74 +0.61% EXCHANGE RATE USD : 1,370.00 (-5.00) JPY : 936.66 (+1.29) CNY : 190.84 (-0.57) EUR : 1,608.31 (-2.37)

S. Korea keeps key rate steady at 2.5% amid rising household debts

2025/07/10 23:44

The Bank of Korea decided to leave its key interest rate unchanged at 2.5%, prioritizing efforts to tame soaring housing prices in the capital region, and to better control household debt following the government's announcement of its real estate policy. Our Moon Ji-young starts us off. As widely expected, South Korea's central bank has held its benchmark interest rate steady at two-point-five percent. The Bank of Korea announced the decision on Thursday following the fifth Monetary Policy Committee meeting of the year, taking a break from a rate-cutting cycle after a cut of 25 basis points in May. "The domestic economy is expected to experience continued low growth for some time, while inflation remains on a stable trajectory, and there is considerable uncertainty related to trade negotiations. However, given the significant rise in capital area housing prices and household debt, coupled with the need to assess recent debt measures, it was deemed appropriate to maintain the current policy rate" Rhee also highlighted that it is necessary to cool expectations for a rate cut to prevent a rapid increase in housing prices in the greater Seoul area and to better manage household debt. According to one expert, housing prices have been rising, especially in the main capital area. " the rising inflation in apartment price, especially in the Seoul Gangnam area, it, which has been showing more than 10% year-over-year of our rate of increase and that is, I think almost the highest in almost 20 years except for 2017 and 2018." In response, the government last month implemented stricter mortgage regulations, capping mortgage loans for home purchases in the capital region and suspending home-backed loans for multi-homeowners. Notably, the rate-freeze decision was unanimous. However, four out of six board members voiced the need for further rate cuts in the next three months, factoring in tariff negotiations. Regarding the future rate outlook, an expert said: "Though not yet disbursed, supplementary budget funds are expected to make an impact in August. This increases the likelihood of a rate cut at the August meeting." Conversely, the other two members advocated for maintaining the rate, citing the record-high 2-percentage-point key rate gap that currently exists between South Korea and the U.S. The central bank predicts consumption to gradually recover, driven by the implementation of the supplementary budget as well as improving economic sentiment thanks to eased political uncertainty. Governor Rhee said he will take into consideration the effects of the extra budget once fully implemented in August. Meanwhile, U.S. tariff impositions pose great uncertainty on export prospects. The central bank emphasized that the outcomes of trade talks, especially regarding reciprocal tariffs on South Korea and specific items like semiconductors, will critically shape the country's export and growth paths. "The Bank of Korea said it will maintain its accommodative monetary policy stance, closely monitoring domestic and external conditions before deciding on the timing of further rate cuts. Moon Ji-young, Arirang News."

[Weather] Severe heat wave will continue for the time being

2025/07/10 23:43

The scorching heat wave is hardly cooling down. Tropical nights have appeared in Seoul for the 11th day and a heat wave warning has been issued for four days in a row. The daytime temperature in Seoul rose up to 37 degrees Celsius and it was 38 degrees in Gwangmyeong. However, along the east coast, the heat slowed down today, with Gangneung staying at 30 degrees during the day. Summer heat will be severe both day and night for the time being. In particular, the UV index will be high in most parts of the country from the morning. It's important to stay in the shade when the sun shines strongly. Tomorrow morning, Seoul and Jeju will start off at 25 degrees, Daejeon, Daegu and Busan at 23 degrees. Daily highs will move up to 36 degrees in Seoul, 31 degrees in Daegu. There is rain forecast only for Jeju Island tomorrow and Saturday. That's all for Korea. Here are the weather conditions around the world.

Samsung Z Fold 7 unveiled at Unpacked event in New York

2025/07/10 23:42

On to the 2025 edition of Galaxy Unpacked. The Z Fold 7 is slimmer and lighter, while the Z Flip 7 has a flex window that allows users to do everything without flipping open the phone. Lee Seung-jae has more. The summer edition of Galaxy Unpacked 2025 was held in New York City on Wednesday, with expectations high over Samsung Electronics' latest releases. There, Samsung Electronics unveiled the latest generation of its Galaxy Z series smartphones, showcasing the company's slimmest and lightest foldable smartphones to date with their Galaxy Z Fold 7 and Galaxy Z Flip 7. Along with its new physical features, the company says the new smartphone comes with an upgraded camera and artificial intelligence capabilities. "Galaxy Z Fold 7 and Z Flip 7, they present the pinnacle of our innovation. This is more than just a new flip or fold. Galaxy AI has become your very own human-like AI companion, elevating the way you connect, create, and lead every single day." Samsung says the Galaxy Z Fold 7 is the thinnest and lightest model in the latest Z series. The phone measures just 8-point-9 millimeters when folded, and 4-point-2 millimeters when unfolded. It weighs just 215 grams,.. making it even lighter than the Galaxy S25 Ultra, launched in January. Despite a reduction in size and weight, the Galaxy Z Fold 7 features a 6-point-5 inch external display and an 8-inch main display, with the inner display 11 percent larger than the previous model. It's also equipped with a 20-megapixel wide-angle camera, with Samsung improving its AI capabilities by enhancing cooperation with external partners like Google. Meanwhile,.. the clamshell-style Galaxy Z Flip 7 upgraded its display with slightly larger screens than its previous model, and a slimmer and lighter build. And for those at the event, it was a chance to see how Samsung Electronics continues to improve in the competitive mobile phone industry. I was very excited to see the unpacked of the new Galaxy Flip 7. I'm very surprised by how elegant it looks. It's very lightweight, its pocketability. And I'm most impressed about the AI assistance. It's going to be very helpful in my everyday life." Samsung also unveiled its latest Galaxy Watch 8. According to Samsung Electronics, the new Galaxy Fold and Flip models will officially launch worldwide on July 25th. Lee Seung-jae, Arirang News.

Special counsel team summons former President Yoon for questioning Friday

2025/07/10 23:41

The Special Counsel Team investigating former President Yoon's failed martial law bid on Thursday summoned the rearrested former leader to appear for questioning on Friday. Yoon did not attend his insurrection trial Thursday morning, citing health reasons. Cha yun-kyung reports. Special counsel Cho Eun-suk on Thursday sent a summons for former President Yoon Suk Yeol to attend questioning on Friday over his failed martial law bid. This would be the first time the former president is questioned following his rearrest early Thursday, making him the first former Korean president to be detained, released, and detained again. On Sunday, the counsel team formally accused Yoon of five major charges. That, on December 3rd last year, Yoon held a partial Cabinet meeting to simulate approval for martial law; that he wrote a false martial law statement and later destroyed it; that he spread false information to foreign media, that he ordered the deletion of secure phone records and that he used the presidential security service to stop the police from arresting him. After a 6-hour 40-minute hearing and a review that lasted five hours on Wednesday, Seoul Central District Court issued the warrant at around 2 AM Thursday, on fears that Yoon could destroy evidence. However, as Yoon did not attend his insurrection trial Thursday morning due to health issues, there are question marks over whether former President Yoon will show up. If Yoon refuses to attend the questioning again, the special counsel team could take Yoon into custody after meeting him at the detention center or try to question him there. The special counsel is scheduled to indict him on these charges within 20 days while also investigating other allegations. Cha Yun-kyung, Arirang News.

Surviving summer in S. Korea's Yeongdeungpo-gu shanty town

2025/07/10 23:40

Though the extremely hot temperature is a pain for everyone, it becomes especially difficult for those in vulnerable areas. Our Ahn Sung-jin has this report. 76-year-old Kim Ok-ja has lived here for decades, in a shanty town in Yeongdeungpo-gu District, Seoul. Despite the sweltering heat wave and rain leaking through the walls in summer, she says she's thankful for what she has to survive the deadly summer. "I have been given this air conditioning system and a fan. Since a lot of us here are old people, officers would come out in the afternoon to make sure that we don't have any problems. During the summer, when it's hot, I'll also go to the shelter. It may look uncomfortable to other people, but I'm just thankful that I can get this much help." South Korea is enduring one of its most punishing heat waves ever. The first ten days of July this year marked the most intense in 118 years. And it is often the country's most vulnerable who are hit the hardest. "Temperatures in Seoul this summer are reaching around 35 or 36 degrees Celsius, but in these tiny cubicles, the tight, cluttered space makes the heat and humidity even worse. That's why the local government provides various services, including this cooling fog system." In the face of rising temperatures, pockets of hope emerge. Though not all buildings can support the cooling fog system, for the buildings that do, it helps cool those sitting outside to escape the heat. The local government has ramped this up for this year, including adding additional air conditioning indoors and building facilities like this cooling shelter and warehouse that opened just a few weeks ago. "This space is made for the residents. Previously, we would just hand out provided necessities collectively, but now they can come and choose the items they need by themselves. And instead of waiting in line outside, they can rest inside here without sweating in the heat like today." Most of these houses do not have proper bathrooms or places to shower, so during the summer, this community area is a lifesaver. "It's really convenient. I can't go to the market, and there's nothing to eat at home. Every time I come, they're so welcoming, and that makes me truly grateful. Honestly, my kids wouldn't do this for me these days." "I'm just thankful that this space is here for us." The country runs a special summer emergency response program until the end of September, placing a special focus on protecting the vulnerable. However, as the streets still sizzle under the relentless sun, for the vulnerable residents living alone, summer becomes a question of survival. Ahn Sung-jin, Arirang News.

Heat-related illnesses surge in S. Korea; officials warn outdoor workers and elderly

2025/07/10 23:38

Sweltering heat is gripping South Korea, bringing with it a sharp rise in heat-related illnesses. Our Kim Jung-sil tells us more. South Korea's health authorities are sounding the alarm as heat-related illnesses surge. Since late June, average daytime highs have remained above 31 degrees Celsius, making conditions increasingly dangerous. According to the Korea Disease Control and Prevention Agency on Thursday, from May 15 to July 8, more than 1,200 people have been affected by heat-related illnesses, with 8 fatalities recorded. On Tuesday alone, 238 people sought emergency treatment for heatstroke, marking the first time in seven years that daily cases have exceeded 200. With more than 60 percent of heat-related illnesses affecting people over 50, experts warn that the elderly are becoming increasingly vulnerable as extreme heat events intensify. "Heat illnesses occur when the body overheats, causing dehydration and damaging the brain's temperature control. Seniors and those with chronic conditions are particularly vulnerable, as they may not feel thirsty or recognize the danger." Dr. Kim emphasizes that outdoor workers, particularly the elderly in rural areas, are at even greater risk. "In rural areas, where many elderly people work in the fields, they are especially at risk. Dehydration is a silent threat, especially when people can't feel it. Staying hydrated and seeking cooler conditions is critical." The extreme heat is expected to linger through the weekend, with heat alerts likely to remain in place across much of the country. Officials are also bracing for a surge in electricity use. Power demand is forecast to hit a record-breaking 97.8 gigawatts by mid-August, the highest ever recorded. Officials, however, reassured the public on Thursday, saying that an adequate power supply has been secured to manage the anticipated surge in demand. Kim Jung-sil, Arirang News.

[Econ & Biz] U.S. tariffs impact on Korean cars, K-beauty products, and Buldak noodles

2025/07/10 23:37

U.S. President Donald Trump has been announcing tariff rates on a daily basis now, whether it's reciprocal tariffs by country or by product, such as autos and steel. Now, South Korean officials say there is room for negotiation, but where do we go from here? We have our Kim Do-yeon in the studio with us for more. Good evening, Do-yeon. First, Do-yeon, walk us through the South Korea and U.S. trading relationship at this moment in time. Dami, it hasn't been looking good for South Korea. From January to April, the United States' imports hit an all-time high, but imports from South Korea actually declined, causing Korea's ranking among U.S. import partners to fall by three places from 7th last year to 10th, according to the Korea International Trade Association. Take a listen to an expert explaining the situation. "Even among the top 10 import partners, only China and Korea saw a decline. In Korea's case, it's notable that key Korean export items are increasingly being replaced by those from countries like Vietnam, Mexico, and Taiwan." We also have to keep in mind that many of the items that South Korea sells to the U.S. are subject to separate tariff rates. For example, we know autos will have 25-percent tariffs imposed under Section 232. Autos are more than 30-percent of South Korea's exports to the U.S. Chips and pharmaceuticals will also have their own tariff rates, and of course they are also some of South Korea's strengths in the export market. And, the White House has made it clear that these tariffs on specific items are not up for negotiation, saying South Korea is not likely to get its own lower tariff rates for these. 2. Let's focus on autos because we have the number now. 25-percent could be big, and we saw Hyundai Motor Group expanding production in the U.S. to avoid this. How is South Korea faring? Now, in terms of competition. A 25-percent tariff is applied to all items, so the playing field is still level against major competitors like Japan. Autos and auto parts are the number one export items to the U.S. for Korea and Japan. But, Mexico is a competitor that has an advantage over South Korea. Take a listen. "We should pay particular attention to Mexico. In the case of automobiles and auto parts, Mexico benefits from lower tariff rates under the USMCA, which puts Korea at a relative disadvantage in terms of price competitiveness. Moreover, Mexico's share of the U.S. import market for automobiles and parts has been expanding rapidly in recent years." And in terms of pricing competition, currency is also something to look into. And that is why the U.S. has been monitoring the dollar exchange rate closely as it comes up with the tariff rates. First, take a listen to how this works. "Let's say a 10% tariff is imposed, but at the same time, the exchange rate rises by 10%. In that case, the price doesn't become 10% higher — even with the tariff, thanks to the weaker currency, it effectively stays at one dollar. That's why a weaker currency neutralizes the impact of tariffs. So we end up comparing how much the yen has weakened versus how much the won has weakened." Now, that is why South Korea and Japan are likely to enjoy better tariff rates than China. While the won and yen are decided according to market trends, the Chinese yuan is not really decided in that way. 3. Right now let's go back to the 25 percent of course it's open to negotiation, but if autos, chips, and pharmaceuticals are getting their own tariff rates, what should South Korea be concerned about? Dami, there are two items that come to mind for this. K-beauty products and ramyeon. These two items have been on the rise when it comes to exports to the U.S. In fact, South Korea ranks first in cosmetics exports to the U.S., and as we all know Buldak noodles has been some sort of a phenomenon in the U.S. Now, let's focus on the beauty products first. Many of the items popular in the U.S. are indie brands that are sold on Amazon. Of course, these are subject to the reciprocal tariffs. There are some that produce locally in the U.S., such as the biggest Korean OEM and ODM cosmetic companies, but that's a small portion. Also, big cosmetic brands are looking for ways to start local production. "In particular, major Korean cosmetics companies like AmorePacific and LG don't have local manufacturing facilities in the U.S. right now, so they're considering options like acquiring existing plants through M&A, since building new factories on-site isn't feasible in the immediate term." On top of this, consumers are smart. There have been trends of people hoarding Korean sunblock before the tariff hit to survive the summer in the U.S. Now, as for the ramyeon industry the two biggest players are facing different fates. Nongshim, the maker of Shin Ramyeon, localized production in the U.S. for all its supplies. Samyang the maker of Buldak exports all from South Korea so the company is closely monitoring the negotiation process. Do-yeon, thanks for coming in tonight.

S. Korea, U.S., Japan arranging trilateral ministers' meeting at ASEAN Regional Forum amid tariff tensions, Russia-N. Korea cooperation

2025/07/10 23:34

The annual series of ASEAN-related meetings takes place this week in Malaysia. The sideline meetings often capture the most attention. It seems a possible trilateral between Seoul, Washington and Tokyo is in the works. Our foreign affairs correspondent Oh Soo-young has the latest. South Korea, the United States, and Japan are aiming to hold a high-level meeting in Kuala Lumpur, on the sidelines of a regional forum, as tariff-related tensions run high between Washington and its partners. According to diplomatic sources, the three sides are trying to coordinate an in-person meeting during the annual ASEAN Regional Forum. If confirmed, it will mark the first such meeting under South Korea's Lee Jae Myung administration, and upon the first official trip to Asia made by U.S. Secretary of State Marco Rubio. Rubio last week cancelled his initial plan to stop by Seoul and Tokyo after the forum. If the three-way meeting is held, South Korea will be represented by First Vice Foreign Minister Park Yoon-joo, who'll meet with Rubio and Japan's Foreign Minister Takeshi Iwaya. Park is leading the delegation to Malaysia, as Foreign Minister nominee Cho Hyun has not yet been approved by parliament. South Korea, the U.S., and Japan are dialogue partners to the bloc of 10 Southeast Asian nations. While ASEAN's annual meetings feature economic and security talks concerning the region, the discussions this year are expected to be dominated by trade tensions. Earlier this week, Washington notified 14 countries it will roll out tariffs from August 1st should they fail to reach a deal. Duties on South Korea, Japan, and Malaysia would be 25 percent, while tariffs on other Indo-Pacific countries range from 32 to 40 percent. As such, America's so-called trade rebalancing measures are also expected to top the agenda, in the three-way meeting between the U.S. and its allies. The meeting may also address North Korea's growing weapons program. While President Lee Jae Myung has shown a dovish stance on North Korea so far, the three ministers are expected to coordinate messaging on deterrence and denuclearization, particularly as Russia's foreign minister Sergey Lavrov is due in Pyongyang for a "strategic dialogue" after the regional forum. ASEAN's annual meeting of foreign ministers is the only multilateral forum North Korea has attended in the region. However, Pyongyang is believed to have decided to skip this year's meeting, for the first time in its history of attending the forum since the year 2000,.. given its severed diplomatic ties with the host country, Malaysia. Oh Soo-young, Arirang News.

Korea redefines global pop culture: From Squid Game 3 to broadway wins

2025/07/10 21:35

Welcome to Within The Frame, where we bring the most pressing issues across the globe into focus. I'm Kim Mok-yeon. From Netflix charts to Billboard rankings, K-culture is no longer riding a wave — it's shaping the current. Squid Game 3 just topped the world's biggest platform in 93 countries. K-pop is expanding into animation, arena tours, and soundtracks that dominate global charts. Rookie groups are breaking records in their first week, Korean musicals are winning on Broadway. And now, with government funding pouring into content-tech, Korea isn't just exporting culture — it's building the next phase of it. So today, we ask: where does Korea's cultural power stand now — and where is it headed next? For answers to this, we are joined by Jason Bechervaise, Assistant Professor of International Affairs at Hanyang University. Welcome. Also joining us online from New York is Entertainment Reporter Tamar Herman. (JASON) 1. So Jason let's start with the most visible milestone — Squid Game 3 has topped Netflix charts in 93 countries for two straight weeks. What does this kind of sustained global traction say-about the evolution of K-dramas into internationally recognized storytelling powerhouses? (TAMAR) 2. And shifting to K-pop — KPop Demon Hunters isn't just streaming well, it's topping Billboard and Spotify charts. Tamar, do you see this as a turning point, where K-pop identities are evolving into full-scale cross-media franchises? (TAMAR) 3. In a recent ArirangTV survey held across 94 countries on more than 800 participants, BTS V and IU have been named as the top K-pop artists, as of Thursday. Considering how long both artists have been in the spotlight, what does their staying power tell us about the global K-pop scene — and how it treats its icons? (JASON) 4. Shifting to Broadway, the Korean musical Maybe Happy Ending just swept six Tony Awards. Jason, how does this amazing breakthrough reflect Korea's ability to globalize its narratives beyond film and television? (TAMAR) 5. And turning from stage to stage debut — rookie boy group AHOF won a music show just one week after their debut. Tamar, could this kind of fast success show, that the timeline for making it in K-pop has completely changed? (TAMAR) 6. And looking at the sheer scale of live fandom — Blackpink's Goyang concert brought in 78,000 fans, and their current world tour is hitting over 15 major cities. Beyond the music itself, what do these stadium-sized performances tell us about how production, performance, and physical presence are shaping the global fan experience? (JASON) 7. Then, now let's take a look at how the talent pipeline is being built — Lately, Korea's Culture Ministry has doubled its investment in short-form dramas. Jason, how critical are these measures in discovering and launching globally competitive creators? (JASON) 8. Staying on investment, the Korean government plans to invest 5 trillion won into culture-tech by 2027. What does this reveal about Korea's long-term strategy for culture as a national growth engine? (JASON) 9. So it's not new that Korean content is being consumed everywhere from Paris to even Peru. In your view, what gives K-content that kind of cross-cultural resonance — despite the gap in language or distance? (TAMAR) 10. And finally, on the heart of it all — today's K-pop fandoms aren't just fanbases, they're ecosystems shaping platforms, narratives, even policy. Tamar, what do you think K-pop represents — to Korea and to the world in 2025?

S. Korea keeps key rate steady at 2.5% in amid rising household debts

2025/07/10 19:49

We start with the Bank of Korea's decision to keep its rate unchanged at 2-point-5 percent amid a host of concerns both at home and abroad. Our correspondent Moon Ji-young reports. As widely expected, South Korea's central bank has held its benchmark interest rate steady at two-point-five percent. The Bank of Korea announced the decision on Thursday following the fifth Monetary Policy Committee meeting of the year, taking a break from a rate-cutting cycle after a cut of 25 basis points in May. "The domestic economy is expected to experience continued low growth for some time, while inflation remains on a stable trajectory, and there is considerable uncertainty related to trade negotiations. However, given the significant rise in capital area housing prices and household debt, coupled with the need to assess recent debt measures, it was deemed appropriate to maintain the current policy rate" Rhee also highlighted that it is necessary to cool expectations for a rate cut to prevent a rapid increase in housing prices in the greater Seoul area and to better manage household debt. According to one expert, housing prices have been rising, especially in the main capital area. " the rising inflation in apartment price, especially in the Seoul Gangnam area, it, which has been showing more than 10% year-over-year of our rate of increase and that is, I think almost the highest in almost 20 years except for 2017 and 2018." In response, the government last month implemented stricter mortgage regulations, capping mortgage loans for home purchases in the capital region and suspending home-backed loans for multi-homeowners. Notably, the rate-freeze decision was unanimous. However, four out of six board members voiced the need for further rate cuts in the next three months, factoring in tariff negotiations. Regarding the future rate outlook, an expert said: "Though not yet disbursed, supplementary budget funds are expected to make an impact in August. This increases the likelihood of a rate cut at the August meeting." Conversely, the other two members advocated for maintaining the rate, citing the record-high 2-percentage-point key rate gap that currently exists between South Korea and the U.S. The central bank predicts consumption to gradually recover, driven by the implementation of the supplementary budget as well as improving economic sentiment thanks to eased political uncertainty. Governor Rhee said he will take into consideration the effects of the extra budget once fully implemented in August. Meanwhile, U.S. tariff impositions pose great uncertainty on export prospects. The central bank emphasized that the outcomes of trade talks, especially regarding reciprocal tariffs on South Korea and specific items like semiconductors, will critically shape the country's export and growth paths. "The Bank of Korea said it will maintain its accommodative monetary policy stance, closely monitoring domestic and external conditions before deciding on the timing of further rate cuts. Moon Ji-young, Arirang News."

[Weather] Summer heat with strong UV rays across the country

2025/07/10 19:47

Scorching weather is heating up the whole country. A heat wave warning has been issued for four days in a row. The daytime temperature in Seoul rose up to 37 degrees Celsius and it was 38 degrees in Gwangmyeong. However, along the east coast, the heat slowed down, with Gangneung staying at 30 degrees during the day today. The heat will be strong day and night for the time being. Especially from the morning to the afternoon, the UV index will be high in most parts of the country. It's important to stay in the shade when the sun shines strongly. Tomorrow morning, Seoul and Jeju will start off at 25 degrees, Daejeon, Daegu and Busan at 23 degrees. Daily highs will move up to 36 degrees in Seoul, 30 degrees in Busan and Jeju. Rain is forecast only for Jeju Island tomorrow and Saturday. That's all for Korea. Here are the weather conditions around the world.

World News: Four killed in Houthi attack on cargo ship in Red Sea

2025/07/10 19:46

This is the World Now, bringing you the latest stories from around the globe. The Houthi rebel group in Yemen said it has sunk a Greek-operated cargo ship in the Red Sea, killing at least four people. This is the second ship the Iran-aligned group has attacked this week. Yemen's Houthis released footage on Wednesday of the Greek-operated carrier Eternity C coming under attack on July 7. The attack resulted in at least four confirmed casualties, six crew members were rescued by EU-coordinated forces, and 15 are still missing, possibly captured by the Houthis. The Houthi military spokesperson claimed their naval unit assisted survivors, providing medical care and transferring them to safety. Europe's top human rights court has ruled that Russia is responsible for atrocities and violations of international law in Ukraine, including the 2014 downing of Malaysian Airlines Flight MH17. The European Court of Human Rights in Strasbourg announced on Wednesday a unanimous ruling finding Russia formally responsible for shooting down flight MH17 with a Russian Buk missile, resulting in the deaths of all 298 people on board, most of them Dutch citizens. The verdict represents the first international court decision attributing state-level responsibility to Russia for the tragedy. Alongside MH17, the court ruled that Russia systematically violated human rights, including the use of sexual violence, torture, and abductions, across Ukraine since 2014. Kremlin spokesman Dmitry Peskov dismissed the judgment, saying, "We won't abide by it, we consider it void." Ukraine welcomed the symbolic judgment, hailing it as a "historic" and "undeniable victory" for the country. AI chipmaker Nvidia became the first public company to reach a 4 trillion U.S. dollar market valuation on Wednesday, briefly peaking at 164.42 dollars per share before settling at approximately 3.97 trillion dollars at the end of trading. The company's valuation has nearly quadrupled since June 2023, far outpacing competitors such as Apple and Microsoft. The peak reflects investor confidence in Nvidia's upcoming Blackwell platform and new chip lines. The target price for the company has been raised, citing long-term momentum. The achievement makes Nvidia the world's most valuable company. A study published on July 9 in Science Robotics by scientists at Johns Hopkins University reported that their AI-driven robot has successfully removed a pig's gallbladder completely unassisted. The AI-driven SRT-H responded in real-time to unexpected situations and verbal commands. Trained on hours of surgical videos, the system mastered the 17-step procedure of a surgery, with 100 percent accuracy across eight trials. Although slower than a human surgeon, it was even able to correct errors and adapt to changes. Researchers aim to expand trials to human surgeries within the next decade. Choi Chi-hee, Arirang News.

Hamas agrees to release 10 Israeli hostages, but warns of tough Israel talks

2025/07/10 19:43

Hamas has agreed to release ten hostages amid ongoing efforts to put in place a ceasefire in Gaza. The agreement was announced in a statement by the Palestinian militant group that added truce talks remain an uphill battle. Among the sticking points Hamas pointed to the flow of humanitarian assistance pullout of Israeli troops from Gaza and a tangible pledge for lasting truce. The current ceasefire negotiations are being mediated by the U.S., Qatar and Egypt and began this past weekend.

S. Korean ex-President arrested over evidence tampering fears

2025/07/10 19:42

In other news. Former President Yoon Suk Yeol has been re-arrested over concerns of evidence tampering amid fresh disturbing allegations. Choi Soo-hyung explains. Former South Korean President Yoon Suk Yeol has been arrested again. It has been 124 days, or about four months, since the court canceled his previous arrest on March 8. On Wednesday, after a 6-hour 40-minute hearing and more than 5 hours of review, a court decided to issue an arrest warrant on fears that he could destroy evidence. The special counsel team said Yoon ordered the deletion of secret phone records and made a fake martial law statement, which he later threw away. It seems that the court agreed this could be considered evidence tampering. Last Sunday, the counsel team formally accused Yoon of five major charges. Those charges are that on December 3 last year, Yoon held a partial cabinet meeting to simulate approval for martial law, that he wrote a false martial law statement and later destroyed it that he spread false information to foreign media. that he ordered the deletion of secure phone records and that he used the presidential security service to stop the police from arresting him. The special counsel team is now allowed to hold Yoon in custody for up to 20 days for investigation. Yoon is being held at Seoul Detention Center. All his presidential-level security has been revoked. He will undergo the same procedures as regular inmates and will be placed in a solidarity cell. There is no air conditioning, and electric fans are restricted to limited hours. The investigation now shifts focus on foreign aggression crime charges. Yoon is accused of trying to provoke North Korea by sending a drone to Pyongyang, to justify declaring martial law. Unconfirmed testimony from military sources claim the president gave a direct order to send a drone into North Korea. However, due to military secrets laws, specific details have not yet been revealed. Choi Soo-hyung, Arirang News.

USFK troop level should be reduced to about 10,000 from current 28,500: U.S. think tank report

2025/07/10 19:41

Also on the defense front. A former senior adviser to U.S. Defense Secretary Pete Hegseth Dan Caldwell has recommended a reduction in America's troop presence here in South Korea to some 10-thousand from the current 28-thousand-500. His recommendation was included in a report released on Wednesday by the U.S. think tank Defense Priorities along with his observation that South Korea does not offer quote "unrestricted contingency access" in the event of a conflict against American interests here in this part of the world. He also pointed out that U.S. boots on the ground in East Asia should be reorganized to contain China. South Korea was also assessed to be capable of defending itself from North Korea in the short term given its conventional military advantage.

Top military officers from S. Korea, U.S., and Japan to have three-way meeting on Friday

2025/07/10 19:40

South Korea's top military officer sat down separately with his U.S. and Japanese counterparts on this Thursday ahead of the Trilateral Chiefs of Defense meeting tomorrow that is Friday. This regular exchange is the first under the Lee Jae Myung administration and is also the first in 15 years that sees the Japanese Chief of Staff of the Joint Staff visiting Seoul. Sources believe the trilateral talks will focus on the three-way security cooperation including the prospects of holding a multi-domain Freedom Edge exercise in September. If held the exercise will mark the third such defense training since the first in June last year.

S. Korea to adopt action plan on closer ties with ASEAN at regional meeting, U.S. tariff talks to loom large

2025/07/10 19:39

In Malaysia this week. Diplomatic delegations including from South Korea are gathered there for the broader ASEAN-related meetings on regional peace and prosperity. Our foreign affairs correspondent Oh Soo-young has more. South Korea is set to adopt a new action plan on cooperating with Southeast Asian countries, at this week's series of high-level meetings in Kuala Lumpur. According to Seoul's foreign ministry, South Korea is joining the annual ASEAN-related Foreign Minister Meetings on Thursday and Friday, as a dialogue partner country to the 10-member regional bloc. During a meeting between Seoul and ASEAN, the two sides will adopt a Plan of Action laying out concrete steps to implement the Comprehensive Strategic Partnership reached upon their 35th anniversary of dialogue relations last year. They're expected to focus on deepening security, economic, and cultural cooperation. First Vice Foreign Minister Park Yoon-joo is leading the delegation as the new Foreign Minister-nominee Cho Hyun has not been officially confirmed by parliament. Park will also attend the ministerial meeting of ASEAN and +3 nations including Korea, Japan, and China, a separate meeting with Mekong countries, the East Asia Summit, and the ASEAN Regional Forum. Concerns over tariffs and regional tensions are expected to dominate most discussions, as the United States this week sent letters to fourteen countries, threatening to initiate the so-called reciprocal tariffs by August first. If no deal is reached, the Trump Administration says it will impose 25 percent duties on South Korea, Japan, and Malaysia, 32 percent on Indonesia,.. 36 percent on Cambodia and Thailand, and 40 percent on Laos and Myanmar. In a draft communique revealed to AFP, ASEAN nations warn that unilateral tariff actions are destabilizing economic recovery and deepening global divisions. Arriving Thursday for his first Asia trip since taking office, U.S. Secretary of State Marco Rubio is expected to defend America's push to rebalance trade relationships, according to officials in Washington. The attendance of Chinese and Russian foreign ministers Wang Yi and Sergey Lavrov is also drawing attention, amid their shaky relations with the U.S.. Beyond tariffs, ministers will address rising tensions on the Thailand–Cambodia border, the ongoing civil war in Myanmar, and territorial disputes in the South China Sea. Meanwhile, South Korea is expected to reiterate its support for peace and stability on the Korean Peninsula and emphasize ASEAN's role in coordinated regional diplomacy. ASEAN's annual meeting of foreign ministers is the only multilateral forum North Korea has attended in the region. However, there's a chance Pyongyang will skip this year's meeting, given its severed diplomatic ties with the host country, Malaysia. Oh Soo-young, Arirang News.