News

S. Korea's unmanned businesses grow while diversifying

2025/08/08 12:38

Starting to emerge as a new business model in the early 2020s, unmanned stores are now rapidly gaining ground across South Korea and have become more common in everyday life. Park Jun-han has the details. In South Korea, you can buy fresh fruit anytime — whether it's 4 AM or late at night. This store is a 24/7 fruit shop. What's even more interesting is that there is no one at the counter. You just simply pick up the fruit, bring it to the counter, then scan the barcode. After it's scanned, you can pay for it through a machine and you're good to go. "These two ice creams are exactly the same — same brand, same size, same ingredients. I paid thousand-five-hundred won at a convenience store, but just six-hundred won at an unmanned store. That's less than half the price!" Since a few years ago, South Korea's unmanned store businesses have grown rapidly. Although estimates vary by institution, it is generally assumed that there are over 10-thousand unmanned stores in South Korea. From January 2020 through 2025, the number of unmanned stores grew 314 percent. The number of stores increased more than fourfold from 2020 to 2023, and has remained steady for the last two years. For customers, the main reasons they visit unmanned stores are their accessibility and reasonable prices. While increasing accessibility through operating 24 hours a day, the strategy of reducing fixed costs by building an automated system that does not require additional labor costs was the key know-how in selling products to consumers at lower prices. "It's cheaper than convenience stores, and I like that I can pay on my own without waiting. "Since it's open 24 hours, I can stop by anytime after studying near my academy, which I find really convenient. Another customer said he doesn't feel pressured when buying at an unmanned store, since no one is watching him while he decides which product to choose. "With no staff around, you can shop freely without feeling watched. The prices are reasonable, so you get more for the same money. Started as an emerging trend, unmanned stores have now expanded across the country and become a new mode of consumption. From ice cream to fruit and even pet supplies, the industry continues to diversify — meeting the evolving needs of consumers. Park Jun-han, Arirang News.

'K-Display 2025' unveils latest in display technology

2025/08/08 12:36

In other news. From groundbreaking new panels to the latest in automotive displays, you can explore the future technology at K-Display 2025. Our Moon Ji-young brings you all the highlights from this year's cutting-edge exhibition. A glimpse of South Korea's latest display technologies. The 24th edition of the Korea Display Exhibition, dubbed "K-Display 2025," kicked off in Seoul on Thursday. At this internationally certified exhibition, domestic panel companies leading the OLED sector, along with a large number of domestic and international materials, parts, and equipment companies, gathered to showcase the future direction of display technology. LG Display, an industry giant, unveiled its cutting-edge 4th-generation OLED TV panel. This panel stands out with an industry-first technology that independently stacks the three primary colors of light, pushing the boundaries with a stunning peak brightness of 4-thousand nits. The company further showcased, for the first time, the world's fastest OLED monitor panel, which boasts an unparalleled refresh rate. "LG Display is also highlighting its automotive display, which spans the entire width of the car in front of both the passenger's and the driver's seats." This Pillar-to-Pillar display is poised to be the first of its kind to enter mass production in the industry. Another industry titan, Samsung Display, has taken the lead with its ultra-fine OLED on Silicon or 'OLEDoS' products for XR devices, showcasing the expansive possibilities of ultra-high-resolution XR technology. The company also unveiled a groundbreaking 6,000-nit Micro LED for next-generation smartwatches. This is a significant leap, 2-thousand nits brighter than the 4-thousand-nit watch Micro LED that Samsung Display showcased at CES 2025 just six months ago. All these display technologies are being showcased until Saturday in Seoul. More than 140 companies are participating in this year's event, which has attracted approximately 20-thousand visitors. The Ministry of Trade, Industry and Energy said the government will continue to provide policy support, including R&D investment and strengthening the competitiveness of the materials, parts, and equipment industry. Moon Ji-young. Arirang News.

Trump to nominate economic advisor Stephen Miran to be new Fed governor

2025/08/08 12:35

Meanwhile, Trump on Thursday announced the nomination of Stephen Miran, the chair of the Council of Economic Advisers, to fill a key vacancy on the U.S. Federal Reserve Board of Governors. If confirmed, Miran is set to replace Adriana Kugler, who resigned last week. Miran will serve out the remainder of her term, which runs through January 31st, 2026. Trump noted on his social media that the search for a permanent appointee continues, suggesting Miran may only serve temporarily. The appointment comes as Trump ups pressure on the Fed to cut interest rates. Miran is expected to align more closely with Trump's push for looser monetary policy.

[On-point] U.S. shows interest in re-engaging in talks with N. Korea --Will Trump, Kim meet again?

2025/08/08 12:35

As we just heard, the United States has reaffirmed that it's willing to engage in talks with North Korea. And this comes as South Korean President Lee Jae Myung is set to hold his first summit with Trump since taking office soon. For more on North Korea issues and bilateral relations between Seoul and Washington, we're joined by Professor Kim Dong-soo, Professor of international and area studies at Pukyong National University. 1. Presidents Lee Jae Myung and Donald Trump are set to meet this month, possibly on the 25th. Security issues are widely expected to top the agenda, right? How do you think the negotiations will unfold? 2. Trump has repeatedly said he's interested in re-engaging with North Korean leader Kim Jong-un. What's your take on a possible meeting between Kim and Trump? Do you think they will be able to meet again during Trump's second term? 3. Looking at the broader region, Trump previously set an August 8 deadline for a peace agreement on the Ukraine war, and warned Russia of sanctions if it fails. And the White House is now saying a meeting between Trump and Putin could happen as early as next week. Could this meeting lead to a rapid end to the war? 4. Trump also hit India with 50% tariffs for buying Russian oil, and the Indian prime minister is set to visit China for the first time in 7 years. Could these tariffs backfire and potentially open a door for China to build stronger ties with both India and Russia? Alright, Professor Kim. Thank you so much for your insight today. We appreciate it.

Netanyahu says Israel intends to take full control of all of Gaza

2025/08/08 12:34

Let's begin in the Middle East where the Israeli Prime Minister expressed intentions to take complete control over Gaza. Tell us more. Right. Prime Minister Benjamin Netanyahu affirmed the intention to take control of the entire Gaza Strip in a recent interview. In a Fox News interview on Thursday, Netanyahu said the move aims to dismantle Hamas and establish a security perimeter. "Well, we don't want to keep it. We want to have a security perimeter. We don't want to govern it. We don't want to be there as a governing body. We want to hand it over to Arab forces that will govern it properly without threatening us and giving Gazans a good life." Hamas responded by warning that Netanyahu's plan suggested he was willing to "sacrifice" the remaining Israeli hostages in Gaza for his own personal interests. The United Nations has cautioned that this decision could lead to "catastrophic consequences" for both civilians and the Israeli hostages. Additionally, Israeli media reports indicate that Netanyahu views the takeover of Gaza as the only viable solution to destroy Hamas and secure the release of hostages still held by the group. The proposed operation, which could last four to five months, is expected to involve expanding control over Gaza City and may displace up to one million civilians.

No tariffs will be applied if chip firm builds U.S. plant during Trump's term: Lutnick

2025/08/08 12:34

U.S. Commerce Secretary Howard Lutnick on Thursday said semiconductor firms committed to building factories in the U.S. during President Donald Trump's term will not face a tariff. The comments come after Trump unveiled a plan to impose about a 100 percent tariff on chip imports. Lee Seung-jae has more. Semiconductor companies that commit to building chip facilities in the United States during U.S. President Donald Trump's term could be exempt from a proposed 100 percent tariff on chip imports. Speaking to Fox Business on Thursday, U.S. Commerce Secretary Howard Lutnick clarified that firms must file their commitment with the Commerce Department and be audited throughout the construction process to qualify for the tariff exemption. The comments come as Trump announced his latest sweeping tariff plan on Wednesday, where he said Washington would impose around 100 percent tariff on semiconductor imports. He cited national security concerns under Section 232 of the Trade Expansion Act of 1962, while hinting at broader sector-specific tariffs to be announced in the coming week. The announcement has drawn close attention from South Korean tech giants Samsung Electronics and SK hynix. South Korea's top trade envoy, Yeo Han-koo, said Thursday that both companies would avoid the full 100 percent tariff under the current Seoul-Washington trade deal, adding that South Korea would receive the most favorable chip tariff rates of any country. This is because Samsung has already invested in two fabrication plants in Texas, while SK hynix plans to open an advanced chip packaging and AI R&D facility in Indiana. However,.. there are doubts whether SK hynix's packaging plant alone would fully qualify for tariff exemptions, while Samsung, on the other hand, could benefit from not only the two fabrication plants, but also news that it has joined Apple's supply chain. Lee Seung-jae, Arirang News.

U.S. "notes with interest" North Korea's hint at possible diplomacy

2025/08/08 11:35

Washington has expressed interest after a senior North Korean official last week appeared to hint at the possibility of resuming diplomacy between President Donald Trump and Kim Jong-un. Our Oh Soo-young starts us off. The United States is "noting with interest" a recent remark by North Korea hinting it may be open to dialogue, saying Washington's still committed to their Singapore statement on developing bilateral ties. Speaking at a public event on Thursday, U.S. State Department's Acting Deputy Assistant Secretary for East Asian Affairs Seth Bailey acknowledged last week's statement made by Kim Yo-jong, the sister of North Korean leader Kim Jong-un. Kim Yo-jong had said the relationship between the U.S. and North Korean leaders is "not bad," and called for a "new" approach by Washington, saying Pyongyang's nuclear capabilities and the geopolitical reality had changed since Donald Trump's first term. But she flatly rejected the idea of denuclearization included in the 2018 statement following then-President Donald Trump and Kim Jong-un's first summit in Singapore. The two leaders had agreed to work towards denuclearization and to build new bilateral relations. Bailey said that the second Trump administration is still committed to the statement's principles, and that the U.S. leader has clearly shown his willingness to engage in negotiations. Washington, however, remains committed to North Korea's denuclearization, through its alliance with South Korea to counter security challenges in Northeast Asia. Bailey said Seoul and Washington are committed to enhancing regional security, "using all instruments of power to deter aggression and counter provocations, including the destabilizing actions of North Korea." President Trump in his first term, met with Kim Jong-un on three occasions. While the first Singapore Summit offered hope for a breakthrough deal on North Korea's denuclearization and economic development, disagreements over the scope of dismantling nukes led to the breakdown of their summit in Hanoi. A meeting at the inter-Korean border in 2019 was brief and saw no outcome. South Korea's new Lee Jae Myung administration has expressed its support for the resumption of Trump-Kim talks, as well as inter-Korean diplomacy. Oh Soo-young, Arirang News.

[Weather] Afternoon heat stays intense with weekend rain in south

2025/08/08 11:34

The overnight heat has finally eased quite a bit. Is Mother Nature going to be generous enough to take us right into the autumn this year? Afternoon heat stays with heat alerts in southern areas, but the morning and evening commute has become much more bearable for many of us lately. Unlike yesterday, sunny skies will turn cloudy in the afternoon with 5 to 20 millimeters of passing rain in the forecast in Gangwon-do and Gyeongsangbuk-do Province. Meanwhile, Jeju will see on-and-off rain all day today with a high of 30 degrees, Seoul, Daejeon, and Gwangju will reach 32 degrees. Southern regions and Jeju need to brace for heavy rain over the weekend. Jeollanam-do Province could see more than 150 millimeters of downpours until Sunday. Those near the water need to be cautious of high swells, especially along the south coast and Jeju. Meanwhile, central areas will see rain early next week.

5,600-year-old human remains show evidence of cannibalism

2025/08/08 11:33

Finally, a study published in Scientific Reports on Thursday unveiled evidence of Neolithic cannibalism in northern Spain. Researchers examined human remains found in El Mirador cave. The remains from 11 individuals including adults, adolescents, and children date back roughly 5,600 years. Their bones displayed cut marks, human bite marks, fractures consistent with marrow extraction, and signs of boiling, suggesting that the remains were skinned, defleshed, cooked, and consumed. Researchers speculate that a single act of intergroup violence caused the cannibalization, and there were no signs of ritual or famine that might otherwise explain the event.

S. Korean chip makers face concerns over not being exempt from Trump's tariffs plan

2025/08/07 22:36

Despite government reassurances, concerns over the possibility of not being granted an exemption from the extra tariffs plan are spilling over to the local chip industry. Our Kim Bo-kyoung has this report. President Trump's plan to impose tariffs on imported chips is putting South Korean manufacturers on edge. Semiconductors, represent Seoul's second-largest export to the U.S. following vehicles, with shipments totaling more than ten-billion U.S. dollars ---around 14-point-7 trillion Korean won ---last year. This accounts for a little more than seven percent of the country's overall exports to the U.S. Although it seems small compared to Korea's exports to China or Hong Kong, it cannot be overlooked as a considerable amount of semiconductors are exported to the U.S. indirectly after being assembled or processed in countries such as Taiwan. When it comes to South Korean chipmakers, Samsung Electronics is producing non-memory chips at its Austin plant in Texas, and constructing a foundry in Taylor, of the same state; while SK hynix is to build a high bandwidth memory packaging plant in Indiana. If Trump does acknowledge such investments already made, it is likely these chipmakers would be exempted. However, if they become subject to the tariffs, they would suffer a substantial hit as most memory chips ---DRAM and NAND ---are being produced within the country, as well as in China. Samsung produces memory chips in South Korea's Hwaseong, Pyeongtaek, and Xi'an in China; while SK Hynix is producing them in South Korea's Icheon and Cheongju, and China's Wuxi and Dalian. Concerns are mounting, but one expert says it is unlikely the tariffs plan will be able to go as Trump said, as it could hurt industries and consumers in the U.S. as well. "The U.S. right now is investing substantially in AI and data centers, so its demand for semiconductors is very high, and if these companies cannot buy foreign-made semiconductors, these AI datacenters may not be built or their cost will go up substantially. So not only will it hurt American consumers and IT industries, but also the country may fall behind in its AI race with China." Meanwhile, Samsung Electronics shares closed at 70-thousand-500 Korean won on Thursday, up 2-point-4-7 percent following the news that Samsung would manufacture Apple's next-generation chips at its foundry plant in Texas, while SK Hynix rebounded during the day and closed at 262-thousand Korean won after having dropped sharply early due to tariff concerns. Kim Bo-kyoung, Arirang News.

Special counsel requests arrest warrant with detention for former first lady

2025/08/07 22:35

The special counsel team looking into the actions of former first lady Kim Keon Hee requested an arrest warrant with detention for her on Thursday, a day after questioning Kim over a series of allegations made against her. The team announced that it filed the request to the Seoul Central District Court at 1:21 PM. Reportedly the request was made on the grounds that Kim had denied all the accusations and posed a risk of evidence tampering. The special counsel is investigating Kim on 16 charges, including stock manipulation and election interference. Also, earlier in the day, the team made a second attempt to bring in her husband former President Yoon Suk Yeol for questioning. However, the effort was halted due to his firm refusal and concerns over possible injury.

Beyond APEC: How APEC 2025 could reshape S. Korea’s regional tourism future

2025/08/07 22:35

Welcome to Within The Frame, where we bring the most pressing issues across the globe into focus. I'm Kim Mok-yeon. With just months to go before APEC 2025, the host city of Gyeongju and neighboring Busan are racing to prepare. Beyond infrastructure upgrades and hotel expansions, both cities are framing the event as a rare opportunity to reposition themselves as global tourism destinations. This comes as South Korea sees a sharp rise in inbound travel, fueled by K-content and shifting global tourism patterns — and as Seoul's dominance in visitor numbers continues to raise concerns over regional imbalance. As 21 economies prepare to gather under one roof, local leaders and tourism experts now face a critical challenge: how to turn this event into a sustainable, long-term growth engine. For a deeper discussion on this, we invite Brian King, Professor and Head of Hospitality, Hotel Management and Tourism at Texas A&M University. Welcome. Also joining us is Shin Hak-seung, Assistant Professor at the Department of Tourism, Hanyang University. 1. To start us off, why is hosting a global event like APEC such a meaningful opportunity for regional tourism, especially in a city like Gyeongju? 2. Following that, with just weeks to go, changes are already underway on the ground. What kinds of tourism-related shifts are we seeing across APEC host regions — whether it's in hotel bookings, shuttle operations, or early cultural programming? 3. Since the summit is functionally shared between Gyeongju and Busan, collaboration becomes key. How can those two cities work together to create a cohesive, multi-stop experience for international visitors? 4. That naturally brings us to APEC's core value — balanced regional development. How can this idea be applied to Korea's tourism landscape, where international visitors still tend to concentrate in Seoul? 5. Now shifting to content and culture — Korean media and storytelling are clearly driving new types of travel demand. How can places like Gyeongju turn their own cultural identity into tourism appeal, especially for FIT travelers? 6. Looking ahead to after the summit, sustainability becomes the bigger question. What strategies should host cities focus on to keep tourism both resilient and responsible in the long run? 7. That ties directly to the physical investments being made — from eco-restoration projects to upgrades at HICO. How can these types of infrastructure be turned into permanent community and tourism assets after APEC wraps up? 8. Meanwhile, Busan has already hosted several APEC-related ministerials this year. What role can large-scale MICE events like these play in developing regional tourism beyond just the short-term boost? 9. Regionally speaking, Korea is well-positioned right now — especially as countries like Japan and Thailand face tourism challenges. How can Korea, and its lesser-known cities, take advantage of this timing to expand their global reach? 10. And to close — when the event ends, the real legacy-building begins. What kind of long-term blueprint is needed to turn APEC 2025 into a lasting engine for regional tourism growth?

S. Korea, U.S. to hold annual defense exercise from August 18 to 28

2025/08/07 21:42

South Korea and the United States will hold their annual Ulchi Freedom Shield exercise this month. In a joint press conference earlier on this Thursday the two sides announced the joint military exercise will begin on August 18th and end on the 28th. While this year's exercise will be similar in scale to that of last year 20 out of the 40 field drills will be pushed back to September amid the intense heat. Officials also said the drills will include missile threat scenarios and aim to reinforce deterrence against North Korea. The annual exercise involves some 18-thousand South Korean troops and roughly the same number of American soldiers.

Trump vows 100% tariff on chips; Seoul cites most-favored-nation status

2025/08/07 21:42

And Trump's attempts to reshape the global trade order are far from over. He's now warning to dump 100 percent tariffs on chips coming into his country. Yoon Jung-min reports. U.S. President Donald Trump continues to ratchet up his tariff pressure, this time, threatening to impose a 100-percent tariff on semiconductors coming into the United States. "We're going to be putting a very large tariff on chips and semiconductors. But the good news for companies like Apple is if you're building in the United States or have committed to build, without question, committed to build in the United States, there will be no charge." He was speaking at a White House event on Wednesday where Apple promised to invest an additional 100-billion dollars in the U.S. on top of the previously announced 500-billion dollars. No specifics were given, though Trump did earlier signal that the levies on chips could come as soon as next week. With semiconductors being South Korea's second-largest item exported to the U.S., Seoul's top office echoed remarks by Trade Minister Yeo Han-koo that the country will not be treated less favorably than other nations. "Whether the levies be 100 percent or 200 percent, we have been promised the most-favored-nation status with regard to semiconductors and pharmaceuticals." Last week, a framework trade deal was reached between Seoul and Washington that lowered the U.S.' so-called reciprocal tariffs on South Korea to 15-percent in exchange for massive investment pledges by Seoul, as well as a promise for the most-favored-nation status on certain sector-specific tariffs. What lies ahead is how to fill in the details of the deal in time for the face-to-face meeting later this month at the top level involving President Lee Jae Myung and his U.S. counterpart Donald Trump. Yoon Jung-min, Arirang News.

[Weather] Even though today is Ipchu, it is still hot nationwide

2025/08/07 21:41

The heat continues today, the season of 'Ipchu', which means the beginning of autumn on the traditional calendar. However, it is still hot across the country. With a heat wave advisory in place in 71 southern regions, the daytime temperatures reached 32 degrees in Seoul, Chuncheon, and Cheongju today. There will be no heat wave above 35 degrees Celsius like last week, but the daytime temperature will continue to exceed 30 degrees Celsius in most regions for the time being. Meanwhile, the night heat will gradually start to cool as well. Seoul will see lows of 23 degrees tomorrow and many areas will see below 25 degrees in the morning. Daejeon, Gwangju and Daegu will start off at 22 degrees, Busan at 25 degrees. Highs will move up to 31 degrees in Seoul, Chuncheon, Daejeon and Busan, Jeju 30 degrees. Showers are forecast tomorrow on the east coast. That's all for Korea. Here are the weather conditions around the world.

STOCK&FX

2025/08/07 21:41

2025. 8. 7. KOREAN STOCK MARKET KOSPI : 3,227.68 ▲29.54 +0.92% KOSDAQ : 805.81 ▲2.32 +0.29% KOSPI200 : 435.35 ▲4.67 +1.08% ASIAN STOCK MARKET NIKKEI225 : 41,059.15 ▲264.29 +0.65% HANG SENG : 25,081.63 ▲171.00 +0.69% SHANGHAI : 3,639.67 ▲5.67 +0.16% WALL STREET (AUG. 6) DOW JONES : 44,193.12 ▲81.38 +0.18% NASDAQ : 21,169.42 ▲252.87 +1.21% S&P500 : 6,345.06 ▲45.87 +0.73% EXCHANGE RATE USD : 1,381.20 (-8.30) JPY : 938.92 (-3.21) CNY : 192.36 (-0.82) EUR : 1,612.76 (+3.02)

“I’m here to win” -Son Heung-min officially signs with LAFC

2025/08/07 21:40

South Korean football star Son Heung-min will now officially play for LAFC over the next two years, with a goal of leaving the club as a legend. Our Choi Soo-hyung tells us more. At Son Heung-min's official Los Angeles FC signing press conference, LAFC supporters welcomed him with loud and powerful cheers. After 10 years with Tottenham Hotspur, Son officially joined LAFC on Wednesday, local time. His new club described the South Korean national team captain as one of the most talented and popular Asian players in football history while Tottenham bid farewell with a front‑page message on its website. Son Heung-min says he came to Los Angeles with one goal, to win. "Obviously I'm here to perform, but also that I want to give some advice to the young players for improvement. I can't wait to see all the teammates and all the players that are working together, so that's why we are here. So let's do it together, win the trophy." It was also revealed that Sonny will wear the number 7 at his new club. Now set to play as LAFC's starting forward, Son said the presence of the world's largest Koreatown in Los Angeles was one reason he chose the team. LAFC said Son Heung-min was signed as a Designated Player exempt from the MLS salary cap through 2027, with an option to extend until June 2029. The club added that he will take up an international roster slot and will be eligible to play once he secures a U.S. work visa and an International Transfer Certificate. According to ESPN, LAFC is paying a transfer fee of around 26 million dollars, setting a new Major League Soccer record and surpassing the previous record of 22 million set by Atlanta United when they signed Emmanuel Latte Lath earlier this year. Son also becomes one of the highest-paid players in the MLS. Son is embracing his new start in the U.S. as another challenge, saying he wants to give back for everything he has received from the team and hopes to leave as a club legend. Choi Soo-hyung, Arirang News.

'K-Display 2025' unveils latest in display technology

2025/08/07 21:39

In other news. From groundbreaking new panels to the latest in automotive displays, you can explore the future technology at K-Display 2025. Our Moon Ji-young brings you all the highlights from this year's cutting-edge exhibition. A glimpse of South Korea's latest display technologies. The 24th edition of the Korea Display Exhibition, dubbed "K-Display 2025," kicked off in Seoul on Thursday. At this internationally certified exhibition, domestic panel companies leading the OLED sector, along with a large number of domestic and international materials, parts, and equipment companies, gathered to showcase the future direction of display technology. LG Display, an industry giant, unveiled its cutting-edge 4th-generation OLED TV panel. This panel stands out with an industry-first technology that independently stacks the three primary colors of light, pushing the boundaries with a stunning peak brightness of 4-thousand nits. The company further showcased, for the first time, the world's fastest OLED monitor panel, which boasts an unparalleled refresh rate. "LG Display is also highlighting its automotive display, which spans the entire width of the car in front of both the passenger's and the driver's seats." This Pillar-to-Pillar display is poised to be the first of its kind to enter mass production in the industry. Another industry titan, Samsung Display, has taken the lead with its ultra-fine OLED on Silicon or 'OLEDoS' products for XR devices, showcasing the expansive possibilities of ultra-high-resolution XR technology. The company also unveiled a groundbreaking 6,000-nit Micro LED for next-generation smartwatches. This is a significant leap, 2-thousand nits brighter than the 4-thousand-nit watch Micro LED that Samsung Display showcased at CES 2025 just six months ago. All these display technologies are being showcased until Saturday in Seoul. More than 140 companies are participating in this year's event, which has attracted approximately 20-thousand visitors. The Ministry of Trade, Industry and Energy said the government will continue to provide policy support, including R&D investment and strengthening the competitiveness of the materials, parts, and equipment industry. Moon Ji-young. Arirang News.

How unmanned stores in South Korea reflect shift in consumer economy

2025/08/07 21:38

Here in South Korea, the number of shops that operate without any shopping assistants has dramatically increased since the early 2020s. Started as a new way to buy products without physical contact, the sector and business models are diversifying to meet the evolving needs of consumers. For more, we have our business correspondent Park Jun-han here in the studio to tell us about South Korea's new consumption pattern. Welcome, Jun-han. Thank you for having me Dami. 1. Jun-han, I heard that you visited unmanned stores that sell different items. Could you explain in detail what these stores are and what types of sectors they cover? Dami, just yesterday, I visited three shops that sold ice cream, fresh fruit, and pet supplies. What stood out was that they were fully operating without a shop assistant present. All I had to do was simply pick up the item, bring it to the counter, and scan the barcode. After scanning, I inserted my card, and the payment went through successfully. The types of unmanned stores I mentioned earlier are just the tip of the iceberg. Various sectors ---industries that we could expect ---have embraced unmanned operations and are now seamlessly integrated into our daily lives. According to a survey by a credit card company here, the most common types of unmanned stores include ice cream shops, laundry shops, photo booths, study cafes, and packaged meal stores. Although estimates vary by institution, it is generally assumed that there are over 10-thousand unmanned stores in the country now. From January 2020 through 2025, the number of unmanned stores grew 314 percent. It increased more than fourfold from 2020 to 2023, and has remained steady for the last two years. Also, because unmanned stores have lower operating costs than traditional ones with fixed expenses, younger people are increasingly involved in starting unmanned businesses. Data shows that 30 percent of unmanned store owners are in their 20s or 30s — nearly double the 16 percent seen among owners of traditional stores. 2. Alright Jun-han, after visiting several sites yourself, how are consumers reacting to this consumption trend? Why do you think unmanned stores are gaining popularity? Dami, for customers, the main reasons they visit unmanned stores are their accessibility and reasonable prices. Let's take a listen to what customers of an unmanned ice cream shop had to say about their shopping experience. "It's cheaper than convenience stores, and I like that I can pay on my own without waiting." "Since it's open 24 hours, I can stop by anytime after studying near my academy, which I find really convenient." A professor who focuses on consumer economics and policy said it's a win-win situation for store owners and customers. "Labor costs are rising, and consumers are not in a financially comfortable situation, so they tend to look for more cost-effective products. As businesses aim to reduce fixed costs and consumers have become more accustomed to contactless services, they are less resistant to technology — and these two factors seem to have created a synergy." 3. I get it Jun-han, but what aspects of Korean consumer culture can we observe through this trend? Dami, these unmanned businesses can only operate based on trust. From both the store owners' and experts' perspectives, they say theft is rare, and this mutual trust between customers and sellers is often seen as a key driver behind the growth of unmanned businesses. Let's take a listen to what the owner of an unmanned ice cream store and a professor of consumer policy had to say about this. "The CCTV is running, and in most cases people act honestly. Of course, there are occasional mistakes during checkout, but they're usually unintentional. Overall, people are very conscientious." "In Korea, there's a strong sense of ethics. Even in coffee shops and other public places, people don't steal personal belongings, which foreigners definitely see as a positive aspect." 4. So my last question, Jun-han, is about unmanned stores maybe being helpful but not always perfect. What are the prospects, and are there any concerns that industry officials or related professors raised? Yes Dami. An expert told me that this new consumer trend involving unmanned stores is a result of combined factors — technological advancement, efforts to reduce fixed labor costs, and a shrinking workforce due to low birth rates. While she said there's no immediate concern, the professor added that if larger corporations begin entering the unmanned store business, it could eventually impact the job market. Let's take a listen to what she said. "If unmanned stores are operated by large franchises or spread to large stores, there is clearly a possibility that this could affect employment in South Korea." With lower operating costs, growing public trust, and consumers adapting to new technologies that change how we shop, unmanned stores may offer an early glimpse of what future retail markets will look like in the years to come. Thank you Jun-han for the insights you shared. Thank you Dami, it was a pleasure.

U.S. 'reciprocal tariffs' take effect as of Thursday

2025/08/07 21:35

The Trump administration's reciprocal tariffs have taken effect, as of Thursday midnight Eastern Time in the U.S., and 1 PM here in Seoul. The duties range from ten to 41 percent depending on the country. South Korea, Japan and the European Union all face 15 percent tariffs on goods exported to the U.S. Seoul sealed a deal with Washington last week in return for the country's commitment to a 350 billion U.S. dollar investment package.