News

Korea braces for impact from U.S. tariffs as companies face different fates

2025/07/10 19:37

Right and with regard to the potential risks from Mr. Trump's tariff campaign my colleague Kim Do-yeon takes a look at their broader implications on Korean export items ranging from cars to chips and even ramyeon. 25 percent — that's the tariff rate set to take effect August 1st on South Korean imports into the U.S as of now. But Korea's exports largely consist of goods like automobiles, which already face a 25 percent tariff regardless of origin. So, how does this stack up against competitors like Japan and Germany? According to the Korea International Trade Association, over 30 percent of exports to the U.S. from both Korea and Japan are cars. Experts say a uniform tariff means little changes in the playing field between these countries. The bigger concern? Mexico. "Mexico benefits from lower rates under the USMCA when it comes to cars and auto parts, giving it a price edge over Korea." And with similar tariffs set to hit other Korean exports like semiconductors and pharmaceuticals, exchange rates become critical. "If the Korean won weakens against the dollar by 10 percent, it effectively offsets a 10 percent tariff. That means U.S. prices don't rise, and their trade deficit doesn't shrink." As for reciprocal tariffs, some Korean strongholds like K-beauty products and ramyeon are also in the crosshairs. K-beauty tops U.S. imports by country, pushing Korean firms to consider local production. "Companies like Amore and LG don't have factories in the U.S. yet, so they're exploring M&As to quickly establish local plants." Meanwhile, ramyeon tells a different story. Nongshim's Shin Ramyeon is made in the U.S., dodging tariffs. But Samyang's Buldak, still fully exported from Korea, will likely see higher prices. Kim Do-yeon, Arirang News.

S. Korea, U.S. agree on early summit, no date set: Top security adviser

2025/07/10 19:36

National Security Adviser Wi Sung-lac says Seoul and Washington see eye-to-eye on the need for an early summit but have yet to agree on a date. Remarks to this end were shared upon his return home from the U.S. following talks with his American counterpart. Our correspondent Yoon Jung-min reports. During his meeting with U.S. counterpart Marco Rubio in Washington, South Korea's top security adviser Wi Sung-lac suggested holding a summit between President Lee Jae Myung and U.S. President Donald Trump as early as possible. However, no date has been set, according to Wi during a press briefing on Wednesday upon returning from his four-day trip to Washington, D.C. "I suggested holding a South Korea-U.S. summit as soon as possible to facilitate the process of making mutually beneficial agreements on pending issues. Secretary Rubio has agreed." When it comes to new U.S. tariffs that are set to take effect on August 1, Wi said the two sides will maintain close communication for a package deal. "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." South Korea was tagged with levies of 25-percent. Wi says the goal is to eliminate the tariffs, and if not possible, then to minimize them. When asked about the allies' defense cost-sharing, the Korean security adviser said the Special Measures Agreement was not addressed specifically, though discussions did include defense spending as a whole. Noting South Korea's annual contribution of more than 1.1-billion U.S. dollars, he said the country is also upping its overall defense spending. U.S. President Trump has recently insisted that Seoul was underpaying for military protection. Wi stressed the need to resolve pending issues within a broader framework of promoting the alliance. Eyes are on how the value of the bilateral alliance, that has lasted for over 7 decades, can be preserved in the face of pressure on defense-cost sharing and tariff threats. Yoon Jung-min, Arirang News.

Lee calls for "all-out" efforts to boost consumption

2025/07/10 19:35

President Lee Jae Myung has called for "all-out" measures to boost consumption, including various programs for the holiday season. He presided over a meeting with his senior aides on Thursday,... during which he diagnosed the current economic situation as "very bad," particularly for small businesses and the vulnerable... as he called them a "capillary vessel" for the economy. Noting the government's consumption vouchers, which will be distributed from July 21st,... he urged related ministries to start various programs during the summer vacation season... to make the most of the impact of the vouchers. He also ordered thorough measures against heat-related disasters from extreme weather.

Samsung Z Fold 7 unveiled at Unpacked event in New York

2025/07/10 19:35

On the tech front. As market pundits say "Samsung has been in the FOLDING phone market longer" than most other makers and at its latest UNPACKED event it showcased its slimmest and lightest device to date. Lee Seung-jae has highlights. 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.

Bitcoin hits new all-time high

2025/07/10 19:34

The world's largest cryptocurrency by market capitalization Bitcoin hit a new high on Wednesday. According to U.S.-based virtual currency exchange Coinbase the price of a single Bitcoin was trading at 1-hundred-12-thousand-55 U.S. dollars at around 4 PM Eastern Standard Time up over three percent from 24 hours prior. This marks the first time this cryptocurrency surpassed the 1-hundred-12-thousand mark.

KOSPI again breaks record high, closing at 3,183.23 on Thursday

2025/07/10 19:34

The South Korean stock market continued to rally on this Thursday driven by foreign investors. The benchmark KOSPI closed above the 3-thousand-1-hundred-80 mark breaking its previous record for the year set a day earlier. According to market analysts Thursday's closing also marks the highest in nearly four years. The tech-heavy KOSDAQ also gained almost one percent from its previous session ending just under 800.

LOVEBUGS IN THE AIR AMID HEAT WAVE IN KOREA

2025/07/10 18:34

Welcome to yet another edition of Press Perspective. It's Thursday July 10th here in Seoul. I'm Min Sunhee. The intense summer heat wave this year has been making headlines here and elsewhere and for more on this concerning weather phenomenon I have freelance journalist Raphael Rashid here in the studio. Raphael welcome back. I also have Frank Smith for Turkish public broadcaster TRT World. Frank it's great to have you on. Raphael, let's start with the situation here in the country. What are your thoughts regarding the social repercussions of the scorching summer? Frank, other parts of the world including Europe are experiencing their fair share of the suffocating heat. What more can you tell us? Raphael, the UN recently spoke about the need for the world to learn to live with heat waves. Do you suppose this means there is essentially no solution to easing the heat waves the world is currently exposed to? Frank, back here in South Korea, another unwelcome presence is that of lovebugs this summer. For the sake of our viewers overseas, do tell us a bit about what these black bugs are, and how severe are they where you are? Raphael, you recently covered the lovebugs' invasion of South Korea for the Guardian. I hear there has been much dispute over ways to rid the country of these pesky insects. Do tell us more. And Raphael, for the sake of comparison, do tell us a bit about how other countries are handling the lovebug crisis. Frank, climate change has been cited as the reason for a number of weather-related phenomena. What more do you care to add? Raphael, another jargon being thrown around amid the repercussions of climate change is "climateflation". What is climateflation, and how severe is it as we speak? Frank, against this backdrop, the EU recently unveiled its climate goal for 2040 that critics claim includes concerning concessions. What are they, and why have they been included? Raphael, what can you share with us about South Korea's policy in response to extreme weather patterns including heat waves? Frank, there has been quite a bit of talk about climate change reporting failing to connect with the ordinary public. Speaking as a journalist, what are your thoughts? All right.

[K-enter] "KPop Demon Hunters" soundtrack on Billboard charts

2025/07/10 16:37

Bella, the animation film "KPop Demon Hunters" is continuing to make headlines and it is doing impressively well on not only viewers' charts, but listeners' charts. A total of seven songs from the "KPop Demon Hunters" soundtrack are in the Billboard main single chart "Hot 100." According to the Billboard chart this week, "Golden" by HUNTR/X, a fictional girl group in the movie, soared to No.23, climbing 58 spots from its debut at No.81 last week. "Your Idol" by Saja Boys, a fictional boy group from the film, jumped 46 places to No.31 in its second week on the chart. Other soundtrack entries include "How It's Done," "Soda Pop," "What It Sounds Like," "Free," and "Takedown." The soundtrack album also climbed five steps up from last week, reaching No.3 on the main album chart "Billboard 200." Next, let's move onto a "real" boy group, ATEEZ, an exciting news for their fans? All the members of ATEEZ have renewed their contract with their agency, KQ Entertainment. KQ Entertainment announced on Thursday that they have successfully renewed their contract with all eight members of ATEEZ for another 7 years, after 7 years of working together. ATEEZ debuted back in October 2018 and have been loved globally as they topped the "Billboard 200" chart in 2023 and also performed at the Coachella Valley Music and Arts Festival as a very first K-pop boy group. Meanwhile, ATEEZ will release their 12th mini album "GOLDEN HOUR : Part.3 'In Your Fantasy Edition'" on Friday and will continue with their tour "ATEEZ 2025 WORLD TOUR 'IN YOUR FANTASY'" in North America and Japan. Lots of exciting news for ATEEZ fans, or ATINYs We will end off with some sad news for CARATs, or Seventeen fans. Seventeen members Hoshi and Woozi will enlist and start serving their mandatory military service in September. According to their agency, Pledis Entertainment, Woozi will enlist on September 15th and Hoshi on September 16th, both as active-duty soldiers in the army. They will be the third and fourth members of the group to enlist, after Junghan and Wonwoo. The agency asked the fans to refrain from visiting the entrance ceremony site. Hoshi and Woozi have been active as representatives of the "96 line," as both were born on 1996, after showcasing their first unit song "Shoot Me" in 2017. Recently, they dominated music charts with their latest single "BEAM," released in March. The two will meet with their fans as they kick off their first fan concert tour, "WARNING," in Seoul this weekend. The fans still have a bit more time left to spend with the two. I'm sure they will have something in store for CARATs even during their military service, like male idol groups do these days. Thank you Bella for today's stories. Let's now go over to our AI anchor Ari, for more on the culture front. Ari!

K-wave AI News

2025/07/10 16:36

Hello and welcome to your AI guide to the latest cultural updates from Korea. Here's our top story. Jeju Island will mark the inclusion of the April 3 Incident records in UNESCO's Memory of the World with a ceremony next Friday. Staged at the Jeju April 3 Peace Park, the event will feature a certificate presentation, a commemorative service, and a peace concert. A special exhibition displaying key archives related to the incident will also be open to the public. Records of the Jeju April 3 Incident were officially inscribed on the UNESCO list in April this year. Jeju Governor Oh Young-hun expressed hope that the event will raise awareness of the incident's historical significance both domestically and internationally. Busan's premier summer event, the Taejongdae Hydrangea Flower Culture Festival, is in full swing. Now in its 15th year, the festival returned after a six-year hiatus caused by the COVID-19 pandemic and drought, drawing renewed interest from residents and tourists alike. More than 4,000 hydrangea bushes across 30 varieties are in full bloom around Taejongsa Temple, creating a breathtaking scene. The festival also features diverse cultural performances, a flea market, free horseback riding, and various other programs. As an intense heatwave grips Korea, the 'Twin Tunnel' in Miryang City, Gyeongsangnam-do Province, is gaining attention as "nature's air conditioner," drawing a steady flow of tourists. Once abandoned for 13 years, the tunnel reopened as a tourist attraction in 2017. Its entire 1-kilometer stretch is illuminated with vibrant LED lights, transforming the space into a surreal and enchanting tunnel of light. The tunnel maintains a consistent temperature of 15 to 19 degrees Celsius year-round, providing cool relief in summer and warmth in winter. Miryang City says over 3,000 visitors come to the tunnel on weekends, seeking to experience its natural coolness. That's all from me. Stay tuned to the Kulture Wave.

[Features reporter] Incheon i-Sea Pass allows residents travel to islands at cost of standard bus fare

2025/07/10 16:35

Summer season calls for travel to the sea and islands and some of the closest ones can be found in Incheon a city also well-known to foreign tourists, as they arrive at the airport there. Now, there is a way to travel to and from the city's offshore islands for only 1-thousand-500 Korean won, around 1 U.S. dollar and ten cents, by using the "Incheon i-Sea Pass". Cha Yun-kyung has more. Incheon Coastal Passenger Terminal is crowded with lots of people visiting the islands of Incheon from early in the morning, as the number of tourists has increased significantly. (KOREAN-) "Since the ship fare has become quite reasonable for Incheon residents, I have suggested tours of Incheon's islands to my friends and family." The "Incheon i-Sea Pass" is the city's first initiative this year, utilizing online booking and payments, that allows Incheon residents to travel to the 25 islands in the western sea for just 1-thousand-500 Korean won, equivalent to the price of the standard bus fare. Non-residents can also receive a discount of up to 70 percent of the normal ferry fares that vary depending on the islands visited, the type of ferry, and age among others. Although the number of passengers using Incheon Coastal Ferries has decreased due to higher cancellation rates than last year, the number of i-Sea Pass users has increased 10-point-3 percent, or around 16-thousand people. Among i-Sea Pass users, the number of Incheon residents increased to 1-hundred-50-thousand, up 3-point-3 percent, while the number of non-residents reached 19-thousand an increase of 27-point-6 percent. As a result, Incheon Metropolitan City expects economic stimulation for Incheon's islands through the i-Sea Pass. Incheon will also look to find ways to prevent inconvenience to the islands' residents and revise policies as the number of users increases. Cha Yun-kyung, Arirang News.

[Short-form] K-Lunch is redefining school meals!

2025/07/10 16:34

Short-form] K-Lunch is redefining school meals! From grilled lobster to home-style meals, Korean school lunches are winning over young appetites.

[Kulture Issue] Mixed-gender K-pop groups back in the scene

2025/07/10 16:34

ALLDAY PROJECT, KARD, JAESSBEE. These groups have something in common. They not only have released new songs or debuted this summer season, but all of them are mixed-gender groups which is not something we see often in the K-pop world as in the past decade or so it's been deemed difficult to succeed in this format. Nevertheless, entertainment companies and producers have not given up and there might be a possibility that co-ed groups could become a trend again. For more on this, we connect to our K-pop expert Jeff Benjamin. Hello Jeff! Q1. Jeff, let's start with the rookie K-pop group that sings "we ain't even famous" but have become famous in the blink of an eye. It's ALLDAY PROJECT, made up of three female members and two male members. The group debuted less than three weeks ago and have been sweeping the charts. What's behind their successful debut? Q2. Before ALLDAY PROJECT, KARD were the representative mixed-gender group in the K-pop scene, and just a week ago, they released their 8th mini album. JAESSBEE, a mixed-gender music group created through entertainment contents on YouTube also dropped a digital single late last month. Are mixed-gender groups back in fashion? If yes, why do you think so? Q3. If we go back to the 1990s, mixed groups were much more common and also successful. Uptown, S#arp, Roo'ra, Cool, Koyote. Why did this format of K-pop group gradually disappear from the scene? Q4. How is it compared to overseas? Is it just Korea that's seeing fewer mixed-gender bands since the 2000s or is it similar worldwide? Q5. The members of KARD have mentioned numerous advantages of having a mix of female and male members in their group, with one of them being the diversity they have. They say no matter how you group the members together, you can create a variety of combinations within the group. Jeff, what do you think are the factors that make mixed-gender groups attractive? Q6. What about the disadvantages? There must be quite a number of them, given the fact that the K-pop industry lacks mixed-gender groups. What's your view on this? Q7. With ALLDAY PROJECT's arrival, for the first time in years, a newly debuted mixed-gender team is in the spotlight. Do you think this rookie group could spark a new boom in the K-pop industry and co-ed groups won't have to be a rarity anymore? Thank you very much for your insights Jeff, have a great rest of the week. Thank you Bella, see you back tomorrow.

S. Korean ex-President arrested over evidence tampering fears

2025/07/10 13:34

In the local front Former President Yoon Suk-yeol has been arrested for a second time. This is the first time in history that a former or current president in South Korea has been rearrested. Our Choi Soo-hyung reports. 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.

Bitcoin hits new all-time high

2025/07/10 13:33

The world's largest cryptocurrency by market cap, Bitcoin, hit a new all-time high on Wednesday. According to U.S.-based virtual currency exchange Coinbase, the price of a single Bitcoin was trading at 112-thousand-55 U.S. dollars at 3.55 PM Eastern Standard Time, up over three percent from 24 hours prior. It marks the first time the cryptocurrency surpassed the 112-thousand mark, shattering the previous high of 111-thousand-900 dollars set on May 22nd.

[NEWs GEN] Frugal Living: Behind the latest saving trends among young people

2025/07/10 13:33

[NEWs GEN] Frugal Living: Behind the latest saving trends among young people

S. Korea, U.S. agree on early summit, no date set: Top security adviser

2025/07/10 11:43

South Korea's top security adviser Wi Sung-lac has returned home from Washington after meeting his U.S. counterpart to discuss trade, security and other key issues. He explained that no exact date has been set for the South Korea-U.S. summit. Our Presidential office correspondent Yoon Jung-min reports. During his meeting with U.S. counterpart Marco Rubio in Washington, South Korea's top security adviser Wi Sung-lac suggested holding a summit between President Lee Jae Myung and U.S. President Donald Trump as early as possible. However, no date has been set, according to Wi during a press briefing on Wednesday upon returning from his four-day trip to Washington, D.C. "I suggested holding a South Korea-U.S. summit as soon as possible to facilitate the process of making mutually beneficial agreements on pending issues. Secretary Rubio has agreed." When it comes to new U.S. tariffs that are set to take effect on August 1, Wi said the two sides will maintain close communication for a package deal. "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." South Korea was tagged with levies of 25-percent. Wi says the goal is to eliminate the tariffs, and if not possible, then to minimize them. When asked about the allies' defense cost-sharing, the Korean security adviser said the Special Measures Agreement was not addressed specifically, though discussions did include defense spending as a whole. Noting South Korea's annual contribution of more than 1.1-billion U.S. dollars, he said the country is also upping its overall defense spending. U.S. President Trump has recently insisted that Seoul was underpaying for military protection. Wi stressed the need to resolve pending issues within a broader framework of promoting the alliance. Eyes are on how the value of the bilateral alliance, that has lasted for over 7 decades, can be preserved in the face of pressure on defense-cost sharing and tariff threats. Yoon Jung-min, Arirang News.

Extreme heat in western regions

2025/07/10 11:41

How are you holding up in this extreme heat? Heat warnings remain in place for western regions today, with the intense heat continuing with widespread tropical nights. Jeju will see sudden showers until the afternoon, while western Jeolla-do and Gyeongsangnam-do could see passing rain of up to 30 millimeters during the day. By the afternoon, Seoul will reach a high of 37 degrees Celsius. 35 degrees in Gwangju. Daegu is at 32 degrees under sunny skies in most parts of Korea. The risk of heat-related illnesses is extremely high. Please reduce outdoor activities and make sure to drink plenty of water. Sorry for international travelers visiting the western parts of Korea, go to the eastern regions for the rest of your trip if you can, searing heat is forecast to bake western regions, including here in Seoul, day and night through the middle of next week. Meanwhile, Jeju Island is expected to receive rain from tomorrow into Sunday.

AI robot carries out autonomous surgery it learned from videos

2025/07/10 11:41

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.

Nvidia becomes first company to reach US$ 4 tril. in market value

2025/07/10 11:40

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.

Top European court rules Russia violated international law in Ukraine

2025/07/10 11:39

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.