News

Nat'l Assembly committee begins review of 2025 supplementary budget

2025/06/30 19:33

A National Assembly committee earlier on this Monday began its review of the government's extra budget proposal. The Special Committee on Budget and Accounts held a Q&A session with government officials on their planned additional spending which stands at 30-point-5 trillion Korean won or some 22 billion U.S. dollars. Rival political parties have agreed to extend the question and answer session to two days instead of one. The ruling Democratic Party is hoping to pass the proposal by July fourth claiming that this is the "golden time" to revive the sluggish economy.

[Features reporter] From Tokyo to Seoul: How Japan's teens are dancing into the spotlight

2025/06/30 15:37

Sung-jin, so we really have come to an end to your Japan series. And today you are going to introduce to us something that we cannot miss out on when talking about Korean culture? Right, perhaps something too clichéd, but still so essential, and that is K-pop. K-pop has really been Korea's global cultural export, transforming from a regional genre to an international phenomenon. And as a country with a strong fan base, I spoke with those in Tokyo aspiring to be the next K-pop idols. Have a look. 11-year-old Hanae has a big dream, to become a K-pop idol. From Twice to her favorite artist, Tomorrow by Together, the idol wannabe's dance practices continue day and night. Her journey began when she was an infant. "When I watch K-pop, the singing is amazing and the dancing is incredible too. It makes me think that it's something really special." Her love for K-pop came from her mother, though she was also inspired by someone else, her grandmother. The passion for K-pop runs through three generations of her family. "In the past, only some people knew about and liked Korean culture, but now it's become mainstream, even my friends enjoy it. I think it gives people a positive motivation for life. Korean culture is now really being embraced here in Japan." For Hanae's mother, it started with Korean fashion and then naturally merged into K-pop. Now she's glad to be supporting her daughter's dream that she had once hoped for. "I want to support her dream with all that I can. I hope she becomes a globally renowned K-pop idol, maybe even performing at Coachella one day." For Hanae, this means a lot of effort, whether it be learning Korean or enhancing her dance skills. "I'm working hard on my singing and dancing until I can be truly satisfied with it myself. I want to meet K-pop idols up close and not only debut in Korea, but also ultimately launch a global career." But it's not just Hanae who has this ambitious aspiration. Students at this dance studio are also a part of a rising wave of Japanese teens captivated by K-pop who practice for hours every day. The studio has more than 1-thousand registered students and offers classes for all different levels. "We've been seeing a steady increase in students over the past seven or eight years, but I think that number will only grow. Until recently, most students have been high schoolers, but now we're seeing a lot more kids from elementary school or those who are in their 20s as well." "It's the K-pop performance for me, and how K-pop idols really try hard and put in a lot of effort." Kurumi has already crossed that threshold. She debuted only around a month ago as a K-pop idol in Korea and said that her dream since elementary school had come true. "It still doesn't feel real, but as we've been appearing on music shows more often these days, it's starting to sink in more and more. I hope to perform in Japan, my home country, sometime in the future." But the phenomenon of K-pop is flowing in both directions. &TEAM is a successful example of K-culture localization and draws fans from all over the world. "We just made the plans full steam. We booked the flight, we booked the hotel and we were on our way. I think it's because the members are so diverse and a lot of them are multilingual." "I had been learning Korean but I stopped for a while. After I started liking &TEAM, I picked it up again." These journeys represent not only what many young hopefuls see as success, but it also signifies a cultural crossover as K-pop continues to transcend borders, languages and generations. This next wave of idols are gearing up for their dream, one step and one beat at a time. Ahn Sung-jin, Arirang News, Tokyo.

[K-Enter] "Squid Game 3" ranked No. 1 in the world within a day of its release

2025/06/30 15:35

We've been expecting to talk about Squid Game 3 in our K-enter news segment today. And we'll do that now with Walter. So, what's the latest on the final season? Season 3 of "Squid Game", released last Friday, soared to No.1 globally just a day after its premiere. According to FlixPatrol, a streaming data site, Squid Game 3 topped the global Netflix charts and has remained in the top position, this was the last time I checked. The series ranked No. 1 in all 93 countries monitored by FlixPatrol. Let's go through the season history. When Season 1 premiered in 2021, it became Netflix's most-watched series globally among both English and non-English shows, earning massive international acclaim. Season 2, which dropped on December 26, 2024, also debuted at No. 1 during its first week. In cumulative viewership, it now ranks as the third most-watched Netflix TV series. But it will go down as one of the best K-dramas that Korea has ever produced. Now, from one influential drama to an influential K-movie that's been out six years ago, but made new history? Last Friday New York local time, the New York Times released its list of "The 100 Best Movies of the 21st Century," placing director Bong Joon Ho's 2019 film "Parasite" at the top of its list. A direct quote from The Times described "Parasite" as "a tale of haves and have-nots, and a ferocious rebuke to the devastations of neoliberalism," calling it a film that is "pleasurably kinked and unsettling." The article praised Bong as "a master of genre unbound by convention," Also included on the list were Bong's 2003 film "Memories of Murder" at No. 99, "Past Lives", the 2023 semi-autobiographical debut by Korean-Canadian director Celine Song at No. 86. and Park Chan-wook's 2005 film "Oldboy" at No. 43. Let's end off with an animation movie, but more-so the soundtrack of that movie. The Netflix U.S. animated film "K-Pop Demon Hunters", which revolves around the world of K-pop, is gaining massive popularity across the globe, and its original soundtrack is also creating a buzz. On Sunday, Billboard revealed in a chart preview that the "K-Pop Demon Hunters" soundtrack debuted at No. 8 on the Billboard 200, the magazine's flagship albums chart. This marks the highest-charting soundtrack debut of the year and the first soundtrack to break into the Top 10 in 2025. Several songs from the soundtrack have also made their way onto Spotify's charts. The album features songs by the fictional K-pop girl group in the movie "HUNTR/X," as well as songs by their rival boy group "Saja Boys." Thanks for that news Walter, as always stick around as we now move onto our AI culture news anchor Ari. Ari what do you have today?

K-wave AI News

2025/06/30 15:34

Hello and welcome to your AI guide to the latest cultural updates from Korea. Here's our top story. Korean golfers Im Jin-hee and Lee So-mi clinched their first LPGA title on Sunday at the Dow Championship, a team event held in the U.S. state of Michigan. In the fourth and final round of the championship, the duo finished at 20-under par, forcing a playoff where they secured victory by birdying the first hole against the American team of Lexi Thompson and Megan Khang. The pair became the fourth and fifth Korean golfers to win on the LPGA Tour this year. In celebration of the grand season finale of Netflix's global hit "Squid Game," large-scale events were held in Korea and the UK. A massive parade was showcased in central Seoul near Gwanghwamun on Saturday, the day after the release of the final season, drawing an estimated 5,000 participants. The event featured a live reenactment of the show's signature game, "Red Light, Green Light," along with a parade of giant characters and iconic symbols from the series. Meanwhile, over in the UK, Newcastle's Millennium Bridge was transformed into a supersized jump rope, featuring Young-hee, the menacing doll and iconic face of the series, alongside her newest companion, Chul-su. The spectacle was part of a series of global events held to bid farewell to the show. The Culture Ministry and the King Sejong Institute Foundation have designated 11 new King Sejong Institutes across nine countries. This brings the total number of Sejong institutes operating worldwide to 252 across 87 countries. The newly established institutes include two in Egypt, six across Asia, including Uzbekistan and the Philippines, and three in Europe, including Germany and Italy. The ministry aims to operate over 350 King Sejong Institutes globally by 2030, fostering a robust Korean language ecosystem across different regions. That's all from me. Stay tuned to the Kulture Wave.

[Kulture Issue] From team name to logo K-pop groups and rebranding strategies

2025/06/30 15:34

I-dle, CRAVITY, NOWZ. These K-pop groups all have something in common. They all recently underwent a rebranding. Rebranding in marketing is the process of updating or changing a brand's identity, be it by a change in name, logo, slogan, visual or verbal presentation. Today, we want to delve in to what rebranding means for K-pop groups. For that, we are now connected with our K-pop expert Jeff Benjamin. Hello Jeff! Q1. Let's start with the girl group i-dle, which sent off the "G" of their former name (G)-I-DLE with a kind of "funeral", and have been continuing their successful career as a powerful K-pop idol group. How do you assess the rebranding of i-dle? Q2. Next, let's talk about CRAVITY, a group that you have also spoken well about before Jeff. How did they undergo a rebranding? Q3. (Any other mentionable rebranded groups?) Now, why are these groups changing their names, logos, etc.? Why do they go through this process? What are they aiming for? Q4. So how are fans reacting to rebranding? (Also, is there a difference in the reaction from overseas fans and domestic fans?) Q5. In some cases, groups have to inevitably change their name as they move to a different agency, such as HIGHLIGHT and BBGIRLS . Recently, even a relatively new boy group, former NOWADAYS, begun a new era after turning into "NOWZ". What are your thoughts on the potential risks or concerns groups can face with rebranding? Q6. How do you think the process of rebranding will affect the sustainability of K-pop artists? Thank you very much Jeff for your insights, talk to you next time. Thanks Walter for kicking off the new week with us, see you tomorrow.

Pres. Lee to meet leading cultural figures

2025/06/30 13:33

President Lee Jae Myung will meet with leading figures in the cultural sector on Monday to discuss ways to promote Korea as a "global cultural powerhouse." Invited to the presidential office in Yongsan are five prominent artists, including musical writer Park Chun-hue who wrote Tony award-winning "Maybe Happy Ending," soprano Jo Sumi , and ballerino Park Youn-jae. The top office says the President will be listening to their voices on ways to support artists and their activities as well as ways to promote overseas "K-art."

[NEWs GEN] Happiness Index: What happiness means to Gen Zs

2025/06/30 13:33

[NEWs GEN] Happiness Index: What happiness means to Gen Zs

Trump does not expect to extend tariffs deadline beyond July 9th

2025/06/30 11:39

As the tariff pause deadline set by President Donald Trump looms, the U.S. leader is now hinting that there will not be an extension beyond July 9 when the negotiating period for countries expires. Our Kim Bo-kyoung starts us off. With just over a week to go before the 90-day extension on tariffs ends, President Donald Trump said he does not expect a further extension. and said his administration will soon send notifications to countries. "But we're going to be sending letters out (to countries) starting pretty soon. Listen, what we're gonna do is we're going to send and we will say, congratulations, we're allowing you to shop in the United States of America. You're going pay a 25% tariff or a 35% or a 50% or 10%." The U.S. president was speaking in an interview with Fox News, which was taped Friday and broadcast Sunday. His words suggest that a reciprocal tariff of up to 50 percent could be unilaterally imposed, while certain countries will have a basic tariff of 10 percent imposed on them. He mentioned Japan as well, saying a letter could be sent to Tokyo. Trump emphasized that it is "unfair" that Japan does not import many U.S. cars while the U.S. imports millions of Japanese cars. When it was put to him that American car manufacturers do not want Japanese and Korean car companies to face lower tariffs than they do, he said that would not happen, adding that U.S. carmakers are too busy selling cars in America to even worry about it. Meanwhile, South Korea's top trade negotiator, Yeo Han-koo, who returned on Sunday from a week-long trip to Washington for the first trade talks under the new Lee administration, said a certain level of trust has been built to accelerate negotiations. According to Yeo, after he met U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, Washington again showed interest in Korea's participation in the Alaska LNG project. "Under the new administration, a channel for conducting negotiations with the U.S. has now been established. As for the Alaska project, the U.S. has continued to show strong interest and hopes that Korea will participate." He added that Seoul will seek the most suitable approach for the country's national interest, while closely monitoring the political and economic developments in the U.S. Kim Bo-kyoung, Arirang News.

Heatwave in most parts, passing rain in capital and Gangwon-do

2025/06/30 11:38

Hope the heat didn't keep you awake overnight. The muggy air lingered overnight, with Seoul recording only its 4th tropical night in June since records began. A tropical night was also seen in places like Gangneung and Daegu. In fact, the scorching heat will continue with heatwave alerts remaining in place for most parts of the country. Expect scattered showers this afternoon in the capital area and Gangwon-do with 5 to 20 millimeters in the forecast, along with thunderstorms. So the central region will be a bit cloudy, while the southern region sees more sunshine. UV rays in Busan and Ulsan could reach the highest level, so stay safe. By this afternoon, Seoul, Chuncheon, and Busan will reach 30 degrees, and Daegu a scorching 35 degrees! Looking ahead, scattered showers are also expected tomorrow, and the hot weather is forecast to continue for the time being, with monsoon rain taking a break this week. Stay safe and hydrated in this intense heat!

Fully autonomous soccer robots gear up for Beijing showdown in futuristic finale

2025/06/30 11:38

Beijing showcased the world's first 3-on-3 soccer match on Saturday, played by four teams of fully autonomous humanoid robots, driven by AI. The robot players were equipped with optical cameras and sensors that detect the ball from up to 20 meters away with over 90 percent accuracy. The game was structured into two 10-minute halves, featuring a deep reinforcement-learning AI that made real-time decisions on passing, shooting, running, and strategy without any human control. Robots were able to recover from falls and displayed dynamic movement. Organizers said the event showcased a real-world test of robot endurance, agility, and AI-driven technology.

World News 3: Spain records temperature of 46C as Europe heatwave continues

2025/06/30 11:37

An intense heatwave continues in southern Europe, with countries issuing health warnings amid rising temperatures. Spain is currently experiencing the worst of the heat, with record high temperatures reaching the mid-40s Celsius in Seville and neighboring areas. A new record for June of 46 degrees was set on Saturday in the town of El Granado. Daytime and nighttime temperatures are expected to remain high through at least July 1. Portugal and southern France are also experiencing record-high temperatures of nearly 43 degrees, prompting wildfire alerts and health advisories. Italy, the UK, and Germany are also under heat and health alerts. Southern regions are expected to continue to see intense heat into early July.

Anti-government protesters clash with riot police in Serbia

2025/06/30 11:37

Tensions in Serbia escalated over the weekend as anti-government protesters clashed violently with riot police in Belgrade, as they called for snap elections and an end to President Aleksandar Vucic's 12-year rule. Tens of thousands of people gathered after months of nationwide anti-corruption and student-led demonstrations, with protesters hurling flares and rocks at riot police stationed around government buildings and elsewhere. Police responded with pepper spray and forcefully broke up groups in multiple locations. Several dozen protesters were detained, while at least six officers sustained injuries during the confrontations. Opposition activists and students have intensified their campaign, demanding early parliamentary elections and accountability following the deadly Novi Sad railway station canopy collapse last November that killed 16 people. Protesters blame corruption for the disaster. Serbian President Vucic denounced the clashes, saying protesters were attempting to "topple Serbia" but "failed."

Iran says 71 killed in Israeli strike on Evin Prison on June 23

2025/06/30 11:37

Now, let's take a look at some stories from around the world with our Choi Chi Hee. Good morning, Chi Hee. Good morning, Eunji. Let's begin with the aftermath of the recent fighting between Israel and Iran. Fill us in on this. Iran's judiciary says Israel's airstrike on Iran's Evin Prison last week had killed dozens. An official from Iran's judiciary said on Sunday that 71 people were killed in the Evin Prison strike on June 23, which included administrative staff, political detainees, and nearby residents. The strike targeted the prison's entrance and administrative areas, leaving visible damage to buildings and surrounding areas. Evin Prison is known for housing political prisoners, journalists, academics, and foreign nationals. Some detainees were relocated after the attack. France, whose citizens are also held there, said the strike endangered foreign nationals and demanded proof of their safety. The June 23 attack came a day before the ceasefire between Israel and Iran. Israel's defense ministry had said it was attacking "regime targets and government repression bodies in the heart of Tehran."

From classical to traditional Korean: Lee Hanurij's bold new sound "Unselected Ambient Loops 25-25"

2025/06/30 11:36

A talented teenage composer is seeking to blur the boundaries between traditional Korean musical instruments and contemporary musical compositions. Our Lee Eun-hee has this story. 19-year-old classical music composer Lee Hanurij has unveiled his first traditional Korean music piece. He won the Bartók World Competition in Hungary when he was just 18. This young talent has also written a commissioned piece for pianist Lim Yun-chan, the youngest-ever winner of the Van Cliburn International Piano Competition at just 18 years old in 2022. Now, Lee has entered a completely new territory by composing his first piece for Korean traditional orchestra, a bold step that bridges tradition and modernity, and breaks down the walls between Korean and Western music. The opportunity came when conductor Choi Soo-yeol, currently serving as the principal guest conductor of the Seoul Metropolitan Traditional Orchestra, invited Lee to write a piece. Choi describes the Korean traditional orchestra as "a branch of contemporary music; a special genre that allows us to express the present through ancient instruments." Lee Hanurij's debut in the genre came to life through the Seoul Metropolitan Traditional Orchestra's concert, filling the Sejong Center for the Performing Arts on Thursday night with the richly layered and resonant sounds of "gugak," Korea's traditional music. In an interview with representatives from the Sejong Center, Lee described his piece as "an attempt to construct an entirely different kind of sentence using the vocabulary of gugak, one that unfolds loosely, hazily, without clear peaks or dramatic climaxes." Lee Hanurij, premiering his work "Unselected Ambient Loops 25-25,"; his debut composition for a Korean traditional orchestra experimentally explores the unique tones and sonic possibilities of traditional instruments. Quoting him, "In this piece, the loop functions more like a memory; fading, warping, and merging into new contexts, yet never entirely vanishing." As pianist Lim Yun-chan puts it, he is "one of the most outstanding composers of our time." The future of the music world isn't just bright, it's dynamically unpredictable. Lee Eun-hee, Arirang News.

[On-point] Will ceasefire between Israel, Iran continue to hold?

2025/06/30 11:35

As we just heard, the IAEA chief says it is clear that the U.S. attack on Iran's nuclear sites caused severe, but not total damage. For more on this and the situation in the Middle East, we're joined by Professor Moamen Gouda, Professor of Middle Eastern Studies at Hankuk University of Foreign Studies. So there seem to be different assessments regarding the impact of the U.S. attack on Iran's nuclear sites. What are your thoughts on this? Will the ceasefire continue to hold? Is the war between Israel and Iran really over? Israel, Iran, and the U.S. all claim to have won the war. But who really gained what from this conflict? Trump said American and Iranian officials will talk soon, but Iran's foreign minister says there are no such plans. Why are their statements at odds? Will Iran return to nuclear talks with the U.S.? How will the Israel-Iran conflict affect the broader Middle East, including the war in Gaza? Alright. Thank you so much for your insight. We appreciate it.

'Squid Game' season 3 tops Netflix charts in 93 countries

2025/06/30 11:35

The newly released third season of the popular Netflix series 'Squid Game' has topped the OTT platform charts in 93 countries within a day of its release. According to FlixPatrol, a global OTT ranking site, on Saturday, Squid Game Season 3, which was released on Friday, ranked first in the Netflix TV show category in 93 countries. With 10 points given for every country a show ranks first, the South Korean drama series earned 930 points. First released in 2021, the show became the most popular series in Netflix's history.

President Lee announces second round of Cabinet picks

2025/06/30 11:34

The Lee Jae Myung administration is further taking shape, with the Presidential Office unveiling nominations for six Cabinet ministers on Sunday. The picks will round out President Lee's teams on the economic and judicial frontlines. Our Presidential Office correspondent Song Yoo-jin reports. The second round of President Lee Jae Myung's Cabinet picks was based on, as the Presidential Office puts it, "expertise and innovation." On Sunday, veteran bureaucrat Koo Yun-cheol was named Finance Minister. He previously served as the ministry's 2nd Vice Minister, budget director, and head of the Office for Government Policy Coordination. "Koo is considered the right person to chart a path for Korea's growth, with deep expertise in public finances and overall policymaking." Ruling Democratic Party lawmaker Jung Sung-ho has been selected as Justice Minister, a position central to delivering on President Lee's campaign pledge to reform the Prosecutor's Office. Jung is known for his broad understanding of judicial reform, built over five terms in the National Assembly. Fellow DP lawmaker Yun Ho-jung, has been chosen to lead the Ministry of the Interior and Safety, another key post in the administration's efforts to reshape the prosecution system. The plan is to review the separation of the prosecution's investigative and indictment powers by creating a new agency within the ministry to oversee investigations. Other nominees include Lee Jin-sook, former president of Chungnam National University, as Education Minister; Kim Jung-kwan, president of Doosan Enerbility, as Minister of Trade, Industry and Energy; and Jeong Eun-kyeong, former commissioner of the Korea Disease Control and Prevention Agency, as Health Minister. This leaves only the Land and Culture Minister posts yet to be named. For the two vacant senior secretary posts at the top office, Jeon Seong-hwan will serve as Senior Secretary for Public Engagement and Social Cohesion. The position has been renamed from Senior Secretary for Civil and Social agenda to highlight the President's focus on building national unity. "Jeon has played many roles, from civic activism to serving as the head of public institutions and as a local government official, working to bring the quiet, often overlooked voices in our society into policymaking." Prosecutor-turned-lawyer Bong Wook has been appointed Senior Secretary for Civil Affairs, a role expected to serve as the control tower for the prosecution reform initiative. Lee's initial pick, Oh Kwang-soo, withdrew over allegations of receiving loans under other people's names. Also announced were several vice-ministerial appointments, including Lee Dong-soo and Kim Ho-hong as deputy directors of the National Intelligence Service, as well as Lee Jin-soo as Vice Justice Minister. "Among Sunday's announcements, minister nominees must undergo confirmation hearings at the National Assembly, though their appointments will be decided by the president. Song Yoo-jin, Arirang News."

IAEA says Iran could be enriching uranium within months

2025/06/30 11:33

The head of the United Nation's nuclear watchdog says, Iran could be enriching uranium again "in a matter of months." The comments contradict U.S. President Donald Trump's remarks that Iran's nuclear ambitions had been set back decades after the U.S. attacks. Lee Seung-jae has more. Iran could begin uranium enrichment again soon, despite the recent U.S. bombardment of its nuclear facilities. That's according to Rafael Grossi, the Director General of the International Atomic Energy Agency, in a CBS News interview on Saturday. Grossi said that Iran has retained the capacity to resume parts of its nuclear program sooner than many expected, saying that the country could be enriching uranium "in a matter of months." That contradicts U.S. President Donald Trump's repeated claims that Iran's nuclear ambitions had been set back decades following a U.S. bombing mission on June 22nd. Trump said that the attack, dubbed "Operation Midnight Hammer," obliterated Iran's underground enrichment facilities. However, Grossi believes some are still standing. He also raised concerns over the location of an estimated 408-point-6 kilograms of uranium, enriched to 60 percent purity. Grossi says, while some may have been destroyed by the U.S. attacks, some of the uranium could have been moved. Meanwhile, in a Fox News interview aired on Sunday, Trump said he may lift sanctions on Iran, if they demonstrate peaceful behavior and cooperate with Washington. The U.S. president said if Iran is "not going to do any more harm," he would "take the sanctions off." He stressed that adding sanctions relief "would make a big difference" for Tehran. Trump also rejected claims that Iran moved the enriched uranium before the U.S. strikes, citing the material's weight and logistical challenges. Lee Seung-jae, Arirang News.

KOSPI reclaims 3,000 mark: what lies ahead for local stocks?

2025/06/28 13:35

Last Friday, for the first time in 3 years and 6 months, South Korea's benchmark KOSPI surpassed the 3,000 mark, long considered a "psychological resistance level." Not only that, the KOSPI closed trading above 3,100 on Tuesday. Although the index has not yet reached its previous record high of 3,300, expectations surrounding the local stock market are fueling momentum. For more on this, we have our economic correspondent, Park Jun-han, here in the studio with us to give us insight into how local stocks have been performing lately. Welcome, Jun-han. Great to be here, Eun-ji. Jun-han, it seems like the market is extending its post-election honeymoon rally? That's right, Eun-ji, South Korea's benchmark KOSPI broke 3,100 on Tuesday for the first time in 3 years and 9 months. It's also notable that South Korea's stock market ranked first in returns for June among G20 countries, coming in above 15 percent. And this is by far the highest increase among all G20 countries, as no other country saw gains exceeding 5 percent in the same period. Now, among the various factors that led to the rally, experts point to eased uncertainties and expectations surrounding the new Lee Jae Myung administration's economic policies as key reasons for the surge. Take a listen to what an economic analyst has to say about the momentum behind the rally. "The weakening of the dollar, coupled with a cycle of fiscal policy expansion and interest rate cuts in emerging economies outside the U.S., has created a favorable environment for investment. After a period of political uncertainty, the snap presidential election removed some of these and resulted in a strong inflow on policy expectations." 2. I see the reason why Korean stocks underperformed, but wasn't it just three months ago that the KOSPI recorded its yearly low? How did it go up over 30 percent in just a few months? Yes Eun-ji. The first half of 2025 in South Korea was marked by both internal and external uncertainties, which the market is extremely sensitive to. As mentioned earlier, the political instability caused by the martial law declared last December by then-President Yoon Suk Yeol pressured investor sentiment and led to an outflow of foreign funds. Moreover, tariff threats from U.S. President Donald Trump also negatively impacted investor confidence. In early April, Trump announced plans to impose 25 percent "reciprocal" tariffs on Korea. The announcement heightened concerns about inflation and contributed to the weakening of the competitiveness of South Korean exports. However, Trump temporarily suspended reciprocal tariffs for 90 days just days after his initial announcement, leaving room for negotiation. Since then, stock markets around the world, which had plunged earlier, began to rebound. President Lee, who has long promised to usher in the "KOSPI 5,000 era," declared the start of this new chapter as, quote, a "new period with new hopes." Take a listen to what he said last week. "I hope that the Korean stock market, which is at 2,992.1 right now, will pass the 3,000 point mark and move into a new period, with new hopes." Lee also visited the Korea Exchange earlier this month and highlighted the importance of dividend payouts and a zero-tolerance policy for stock price manipulation, pledging to lead the market through various reforms, including shareholder return policies and amendments to the Korean Commercial Act. 3. So now we know that Lee Jae Myung is fully committed to achieving KOSPI 5,000 during his term. What approaches should he take to actually make this possible? Of course, it will be crucial for President Lee's policy pledges to be implemented swiftly. Take a listen to what a chief economist had to say about KOSPI's long-term growth outlook. "While the government is trying to stimulate domestic demand through a large-scale supplementary budget, measures such as expanding AI investment and improving systems related to commercial law amendments should be implemented swiftly. Moreover, the early settlement of tariff negotiations will help lay the foundation for achieving this goal within the next two to three years, if not immediately." 4. Alright, so the last question is: What are the obstacles that could hinder a further rally of South Korean stocks? Actually, there are some variables that could prevent further momentum. For example, the U.S. has indicated a possible extension to its pause on tariffs to go beyond the July 9 deadline. Also, although there's a ceasefire in the conflict between Israel and Iran, uncertainties could be reignited if both sides clash again. Take a listen to what market experts have to say about factors that might affect the local market. "In the case of wars, we'll have to wait and see how long they last and how predictable they are, as both factors will affect the economy going forward." "I think the overall U.S. economy and tariff policy, along with South Korean companies' second quarter results, will be key factors in determining how our stock prices move in the third quarter." Investing always comes with both opportunities and risks. In times of rapidly changing markets, I encourage viewers of our channel to manage their assets wisely. Thank you, Jun-han, for the report. Thank you, Eun-ji, I hope to see you again soon.

Seoul urges Pyongyang to give prior notice before releasing dam water

2025/06/27 22:38

The Unification Ministry here has urged Pyongyang to inform Seoul in advance of any intention to discharge water from a dam across the border. Making note of past agreements between the two Koreas to fight flash flooding during the monsoon season, the ministry emphasized that early notification would serve to prevent accidents arising from sudden surges in water levels of the Imjingang River that flows from the north to the south. Back in 2009, an unannounced release of water from North Korea's Hwanggang Dam near the border resulted in the loss of six South Korean lives.