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Is semiconductor stock rally shifting from Korea to China?

Korean stocks led the global semiconductor rally over the past year, but the momentum is shifting toward China as shares of the country's two biggest chipmakers pull back, analysts said Monday. The TIGER China Semiconductor FACTSET ETF (exchange-traded fund), which tracks large-cap Chinese semiconductor companies, gained 49 percent in the three months through Thursday, making it the best performer among three Korea-listed semiconductor ETFs managed by Mirae Asset Global Investments, according to the Korea Exchange. That compared with a 33.6 percent gain for the TIGER U.S. Philadelphia Semiconductor ETF and 19.9 percent for the Korea-focused TIGER Semiconductor ETF. The Korean fund remained the top performer over the past year, surging 253.3 percent. The China-focused fund rose 154.8 percent, while its U.S. counterpart gained 132.4 percent. Analysts said the shift toward China reflects fresh inflows as Korean semiconductor shares pause after a sharp rally. Funds have sharply flowed out of Samsung Electronics and SK hynix this month even as both companies continue to post record earnings. "

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US military says it's carrying out its 10th consecutive night of strikes on Iran

DUBAI, United Arab Emirates — The United States military said late Monday it was carrying out its 10th consecutive night of strikes on Iran in a push to reopen the Strait of Hormuz. The renewed bombings followed the death of another American service member, and came after Iran launched attacks on American allies Kuwait, Jordan and Bahrain, home of the U.S. Navy’s 5th Fleet. U.S. Central Command said on social media that the latest strikes “are designed to further degrade Iranian military capabilities used to attack commercial shipping" in the strait. Even as the U.S. and Iran inch closer to all-out war again, glimmers of hope appeared on the diplomatic front, as Iran's interior minister traveled to Pakistan, a key mediator in the conflict, for talks. The interim deal signed last month that was meant to end the fighting has crumbled. Shipping through the Strait of Hormuz — a vital supply route for world energy supplies — has largely stalled. And as fighting intensifies, both sides have targeted civilian infrastructure relied on by millions of people. A new potential threat to wo

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Questions persist over defense minister's military service record

Questions surrounding Defense Minister Ahn Gyu-back’s military service have resurfaced, with the government and his accuser offering conflicting accounts of what happened more than four decades ago. At the center of the dispute is a gap in Ahn's military record. His record shows he began mandatory service on Nov. 5, 1983 and was discharged on Aug. 31, 1985, amounting roughly 22 months. Territorial defense soldiers at the time normally served for 14 months. His accuser alleges the discrepancy reflects an absence without leave lasting several months, a period of detention and a subsequent order to complete additional service. Ahn and the Ministry of National Defense said he never deserted his unit and attribute irregularities in his military record to administrative errors. The issue first drew wider attention during Ahn’s confirmation hearing as defense minister last year. Rejecting the allegations, Ahn told lawmakers he had never vacated his post. “I never deserted (my post). I have lived my life without anything to be ashamed of,” Ahn told lawmakers. “The military record curren

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InterviewGreece seeks to elevate Korea ties through maritime innovation, Indo-Pacific partnership

As Greece and Korea celebrate the 65th anniversary of diplomatic relations this year, Athens is seeking to expand a partnership long anchored in shipping, shipbuilding and trade into new areas including green growth, digital governance, innovation and regional security, while strengthening cooperation between the two like-minded middle power countries. In a written interview with The Korea Times marking his three-day visit to Seoul this week, Greek Foreign Minister George Gerapetritis said maritime cooperation remains at the heart of bilateral economic relations, with Greece being the world’s leading ship-owning nation and Korea a global powerhouse in shipbuilding. Maritime partnership enters new phase Gerapetritis pointed to cooperation between Skaramangas Shipyard and HD Hyundai Heavy Industries on naval and coast guard vessel projects, as well as the partnership between ONEX Shipyards and Technologies and Hanwha Power Systems. The latter has since developed into Project Trident, a 1.35 billion euro ($1.58 billion) trilateral investment program involving Greece, Korea and the United

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Seoul's monthly transit pass users angered by service suspension

Commuters are growing frustrated as Seoul prepares to end its flagship Climate Card service next month before its replacement, Climate Card Plus, is fully integrated with the Modu Card system, raising concerns over a bumpy transition. The disruption stems from Seoul's plan to replace the Climate Card with Climate Card Plus, a successor designed to integrate with the transport ministry's K-Pass, which offers similar public transit discounts. However, delays in coordinating the integration between the Seoul Metropolitan Government and the Ministry of Land, Infrastructure and Transport have postponed the transition, leaving commuters facing uncertainty until the new system is ready. Introduced in 2024, the Climate Card, available in both prepaid and postpaid versions, allows users unlimited rides on Seoul's buses and subway for 62,000 won ($41.82) a month. The pass also offers discounted fares to certain groups, including an 11 percent discount for young adults aged 19 to 39, reducing the monthly cost to 55,000 won, and a higher discount that lowers the fare to 45,000 won for low-income r

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T'way Air's European windfall turns into costly burden

T’way Air's European expansion, once hailed as a windfall from the Korean Air-Asiana merger, is turning into an expensive test of its long-haul strategy, as rising fuel, maintenance and currency costs overwhelm healthy passenger demand. Earlier, the low-cost carrier (LCC) took over routes from Incheon to Paris, Rome, Barcelona and Frankfurt, as part of regulatory remedies tied to the merger of the two full-service carriers. Despite maintaining solid passenger demand, T’way is exposed to challenges of sustaining the business model in the face of worsening profitability. Indeed, T’way Air is widely forecast to post the largest operating loss among Korea’s budget carriers in the second quarter. According to market tracker FnGuide, the airline’s loss is estimated at 132 billion won ($89 million) between April and June, raising doubts over whether T’way’s expansion into the European routes has benefited the airline in terms of revenues. On the surface, demand remains healthy. In the first quarter, T’way recorded passenger load factors of 84 percent on its Incheon-Paris route,

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UNESCO adopts Busan Declaration for global heritage preservation

BUSAN — As armed conflict and climate change threaten heritage sites around the globe, government officials and experts participating in the 48th UNESCO World Heritage Committee in Busan adopted a new declaration calling for international collaboration to shield vulnerable cultural and natural assets from damage. The agreement — dubbed the Busan Declaration on World Heritage — also encouraged transparent and responsible use of digital technologies in identifying, recording and preserving heritage. The participants passed the declaration by consensus during the opening business session of the committee’s 48th meeting, hosted by Korea in the southeastern port city of Busan. It marks the first time Korea has hosted the meeting since joining the UNESCO World Heritage Convention in 1988. The core of the declaration officially elevates "collaboration" as the new "sixth C" of the strategic objectives of its heritage framework. The new pillar integrates global cooperation as a key guiding principle alongside the previous "Five Cs": conservation, credibility, capacity-building, communicat

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Paichai High School's suspension over 'Tank Day' chant reduced to 1 month

A Seoul high school baseball team that was banned from national tournaments for six months over chants mocking the 1980 Gwangju Uprising has had its suspension reduced to one month, clearing it to compete in an upcoming national tournament. The Korea Sport and Olympic Committee (KSOC) said Monday it had reduced the ban on Paichai High School's baseball team after its subcommittee on sports fairness reviewed the disciplinary action stemming from the players’ chants disparaging the pro-democracy movement during a national tournament game. The committee acknowledged that the chants constituted grounds for discipline — ruling that inappropriate chanting from the dugout amounted to interference with the game — but cited the players' subsequent visit to Gwangju to seek forgiveness and Gwangju Jeil High School's own appeal for leniency, as grounds for the reduction. Monday’s ruling by the KSOC, the country’s top sports governing body, takes effect immediately, clearing Paichai High School to compete in the upcoming Bonghwangdaegi National High School Baseball Tournament. The tourname

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Coupang logistics center fire exposes warehouse safety risks

As firefighters continued the third day of their battle to contain a massive blaze at Coupang’s logistics center in Incheon, the incident exposes deeper structural weaknesses of warehouses that can turn a single spark into a prolonged, hard-to-control inferno. The fire broke out early Saturday morning on the sixth floor of the eight-story facility — one of the company’s largest distribution centers — located in Seohae District. All on-site workers evacuated safely and no fatalities were reported. At 8 p.m. Monday, fire authorities said the main blaze was brought under control, roughly 61 hours after it started. Crews were still working to extinguish remaining hotspots. The prolonged battle drew comparisons to previous warehouse disasters, including a 2021 fire that burned for nearly six days at Coupang’s Deokpyeong center in Icheon, Gyeonggi Province, and a 2022 fire at a cold storage facility in Pyeongtaek, Gyeonggi Province, which took more than 19 hours to extinguish and claimed the lives of three firefighters. According to fire safety experts, logistics centers — due to

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President Lee's apartment sold for $1.96 mil.

The apartment owned by President Lee Jae Myung and first lady Kim Hea Kyung was sold for 2.9 billion won ($1.96 million), five months after it was put on the market, official records showed Monday. Lee and Kim had put their only home in Seongnam, Gyeonggi Province, up for sale in February as part of the administration's effort to curb runaway home prices. The ownership transfer was dated last Thursday, according to a certified copy of the real estate register. The buyers registered a mortgage with a maximum secured amount of 1.78 billion won in favor of the president and his wife, meaning Lee effectively loaned the amount to the buyers until they pay the balance, which they have reportedly committed to doing around October. Cheong Wa Dae confirmed the sale of the property. "As the owner of a single home, (Lee) is under no obligation to sell, but took the measure to demonstrate his commitment to realizing his real estate normalization policy," the presidential office said.

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Foreign worker doxed by interpreter after fleeing armed threats, civic groups say

Dozens of civic groups joined together to file a complaint Monday with the National Human Rights Commission of Korea seeking an investigation into alleged retaliation against a seasonal worker who fled his workplace after being threatened by a Korean coworker. The case highlights broader problems in Korea's seasonal worker program, which was introduced to ease chronic farm and fishing labor shortages by bringing in foreign workers. The complaint centers on a Filipino worker who came to Korea in April to work at a fishing business in Boryeong, South Chungcheong Province. He fled the workplace last month after a Korean coworker repeatedly cursed at him and threatened him with a weapon. After he left, an interpreter who helped manage seasonal workers' entry and employment warned his family by text message that he could face deportation, a reentry ban and a fine if caught. The interpreter also cited his departure to pressure other seasonal workers and their sponsors into notarizing family guarantee contracts requiring a payment of 50 million won ($33,500) if they left their workplace without

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Prolonged won weakness weighs on Korean firms, banks

Corporate and financial sectors are facing mounting pressure from the won's prolonged weakness, with the won-dollar exchange rate remaining at elevated levels for more than two months. According to the Seoul foreign exchange market, the won has hovered around the 1,500-per-dollar level since mid-May, fluctuating around the psychologically important threshold as foreign equity outflows offset strong stock market gains and a large current account surplus. This lifted the second-quarter average exchange rate to 1,501.6 won, its highest quarterly level since the Asian financial crisis in 1998. The won briefly strengthened on Friday, with the won-dollar exchange rate ending onshore trade at 1,478.5 per dollar, its lowest close since May 11, when it finished at 1,472.4. The rate saw little change on Monday, closing at 1,478.4. A weaker won is creating winners and losers across industries. Manufacturers that rely heavily on imported raw materials and components are facing higher production costs, while companies with foreign currency-denominated debt are shouldering heavier repayment burdens a

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KOSPI falls toward 6,500 as chip sentiment remains weak

The KOSPI extended its losing streak, Monday, falling toward 6,500 as sentiment surrounding the semiconductor sector weakened further amid growing risks related to a military conflict between the U.S. and Iran. The benchmark closed at 6,516.27, down 4.46 percent from the previous session. It opened 2.6 percent lower and extended its decline. A sell-side sidecar was triggered at 11:21 a.m., marking the 20th such activation on Korea's main bourse this year. Institutional investors sold a net 919 billion won ($621 million) of shares. Foreign and retail investors bought a net 515.3 billion won and 349.1 billion won, respectively. The Korean stock market reflected external headwinds that had accumulated during Friday's holiday closure and over the weekend, according to Lee Kyoung-min, an analyst at Daishin Securities. An artificial intelligence (AI) model from China's Moonshot, called Kimi K3, was assessed as delivering performance close to that of the most advanced models from OpenAI and Anthropic. The news raised questions about whether the massive capital expenditures undertaken by hypersc

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Homeplus appeals court's rehabilitation termination, faces uphill battle for turnaround

Homeplus, once Korea’s second-largest discount store chain, formally appealed a court decision to terminate its rehabilitation proceedings, Monday, after securing a 200 billion won ($135 million) emergency loan. Although the last-minute financing may have pulled the company back from the brink of liquidation, its return to normal business remains far from assured. To stay afloat, Homeplus must rebuild supplier confidence, secure fresh liquidity and win back customers after months of disruption. The appeal follows Meritz Financial Group’s approval of the financing on July 16, after private equity firm MBK Partners, Homeplus’ owner, and its chairman, Michael ByungJu Kim, agreed to provide joint personal guarantees for the full amount of the debtor-in-possession (DIP) loan. While the Seoul Bankruptcy Court ended the retailer’s rehabilitation proceedings on July 3, it left the door open to reconsidering the decision if Homeplus obtained the minimum funding needed to carry out its turnaround plan before Monday’s appeal deadline. The company’s first hurdle is convincing the court t

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Korea's Daejeon selected as host city for 2029 Invictus Games: veterans ministry

The Korean central city of Daejeon was selected Monday to host the Invictus Games in 2029, becoming the first Asian country to stage the international sporting event for injured service members, the veterans ministry said. The Invictus Games Foundation in Britain chose Daejeon, located about 140 kilometers south of Seoul, over Aalborg in Denmark and San Diego in the United States, to host the 2029 competition, according to the ministry. The ministry said the board of trustees of the foundation had unanimously voted to host the 2029 games in Daejeon, citing its well-preparedness under a shared goal of recovery and rehabilitation of wounded service members. "(The foundation) highly assessed Korea's level of preparedness throughout the bidding process, from the on-site inspection of the venue in February and the submission of its application in May, to the bidding presentation in London in June," it said. The foundation expected Korea's hosting of the Invictus Games as the first Asian country, along with its cultural power, will help attract more Asian nations' participation in the competit

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Gov't to launch security-focused AI model for public sector this year

Science and ICT Minister and Deputy Prime Minister Bae Kyung-hoon said Monday the government plans to develop a security-focused artificial intelligence (AI) model for the public sector this year as part of efforts to build domestic AI capabilities and reduce dependence on foreign AI providers. "We have assessed that by leveraging the AI models we already have and fine-tuning them with security-related data and vulnerability scenarios, it is possible to build a security-focused AI model capable of identifying a wide range of vulnerabilities at the current level of technology,” Bae said during a media conference marking his first year in office at Government Complex Sejong. "We plan to begin development and first apply the security-focused model in the public sector before the end of the year." For the private sector, he said the government will evaluate whether the model could be deployed later this year or early next year. Bae framed the effort as part of a wider push to secure sovereign AI capabilities amid intensifying global competition. He noted that leading AI models are increasi

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DPK seeks extension of special counsel probe into uncovered allegations surrounding ex-President Yoon

The ruling Democratic Party of Korea (DPK) introduced a bill to extend a comprehensive special counsel investigation at a parliamentary plenary session Monday, prompting the main opposition party to launch a filibuster. The comprehensive special counsel investigation combines three separate special counsel probes into former President Yoon Suk Yeol's brief imposition of martial law in December 2024, allegations involving former first lady Kim Keon Hee and the death of a young Marine. It was launched in February amid concerns that the three earlier probes had ended without fully addressing key allegations. Under the proposed bill, the investigation period would be extended by 30 days from the current deadline of July 24 to Aug. 23. It would also increase the number of public officials dispatched to the special counsel team from 130 to 150 and expand the scope of the probe to include obstruction of audits by public officials. As the DPK put the proposal before the plenary session, the main opposition People Power Party immediately launched a filibuster in protest, delaying a vote on the bi

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'Hope' triggers fierce debates among viewers

Director Na Hong-jin's new sci-fi film "Hope" is igniting massive debates online and offline, drawing sharply divided reactions from both critics and moviegoers since its July 15 release. Paradoxically, the polarizing reception has fueled widespread public curiosity, which pushed the movie past the 2 million viewer mark on Sunday, just five days after its premiere. The film tracks the chaos that unfolds when a mysterious monster suddenly invades Hopo Port, a fictional coastal village located near the Demilitarized Zone. The local police station chief (Hwang Jung-min) and village people, including Seong-gi (Zo In-sung), scramble to deal with extraterrestrial entities while residents form a defense group against them. Supporters praise the film as a groundbreaking masterpiece, highlighting its intense action sequences, grand scale and rebellious narrative structure that breaks away from traditional Korean cinema. Prominent movie critic Lee Dong-jin gave the film four out of five stars, praising its raw energy and cinematic ambition. "It is a bold race through a bizarre mess where the entire

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BTS headlines first halftime show at World Cup final

K-pop supergroup BTS performed in the first-ever halftime show at a FIFA World Cup final on Sunday (U.S. time), sharing the stage with other global pop stars, including Madonna, Shakira and Justin Bieber. The group appeared as the second performer during the halftime of the 2026 FIFA World Cup final between Spain and Argentina at New York New Jersey Stadium in East Rutherford, New Jersey, marking a milestone moment that blended sport and music on one of the world's biggest stages. Madonna opened the show with "Music," emerging alongside roller-skating dancers, before BTS member Jung Kook took to the stage to perform the group's megahit "Dynamite." The remaining members joined sequentially, delivering a full-group performance at the center of the field to loud cheers from the crowd. Suga wore a jersey featuring the emblem of Red Devils, the official supporting group for the South Korean national football team, while both Jimin and J-Hope sported outfits bearing the number seven, which represents both the football team captain Son Heung-min's jersey number and the number of BTS members, dr

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Editor's Pick

Economic pressures fuel 'mom-obsessed' trend among Korean youth

Economic pressures fuel 'mom-obsessed' trend among Korean youth

There was a time when being called a "mama's boy" or "mama's girl" in Korea was an insult. Now, millions of young Koreans are voluntarily claiming a similar label and wearing it as a badge of honor. The term “eommisae,” referring to someone who is obsessed with their mom, went viral across social media as more young people say they would rather spend time with their mothers than with friends or partners. On platforms such as Instagram and YouTube, young Koreans share photos and videos of themselves shopping, traveling and dining with their mothers, proudly adopting the label. Many describe their mothers as their best friends, saying they spend more time talking to them than anyone else and express that they would rather enjoy a meal or a day out with their moms than socialize with peers. Unlike mama's boy and mama's girl, which implied excessive dependence, eommisae is largely self-described — a term people claim with pride rather than one imposed as criticism. The trend extends to K-pop as well, with idols openly showcasing close relationships with their parents. ILLIT member Wonh

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Life in Korea

Gyeonggi Province reinforces legal lifeline for foreign survivors of gender-based violence

Gyeonggi Province reinforces legal lifeline for foreign survivors of gender-based violence

For foreign residents in Korea, navigating the aftermath of sexual assault or domestic abuse can be terrifying. Attempting to report it in a different legal system where justice hinges on highly specific, easily misinterpreted legal definitions can feel nearly impossible. To help overcome critical linguistic issues in reporting, the Gyeonggi Provincial Government and the Gyeonggi Integrated Response Center for Gender-Based Violence held a specialized intensive training seminar Saturday. The initiative aimed to elevate the proficiency of its dedicated interpretation support team in a move designed to ensure no victim is left vulnerable due to language barriers. The training session drew 36 specialized interpreters representing 17 different languages, including Mandarin, Vietnamese, English, Japanese, Thai and Russian. These language professionals serve as on-the-ground advocates, accompanying international residents through every grueling step of the reporting process, from emergency counseling and police interrogations to formal courtroom testimony. Because a poorly translated word can

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Lifestyle

Korea reimagines its independence ideals as tool for modern diplomacy

Korea’s heritage officials and policy experts gathered Monday to explore how cultural assets can become a foundation for global cooperation and peace, revisiting independence leader Kim Koo’s vision of a nation strengthened by culture. The Korea Heritage Service (KHS) held the World Heritage Governance and Realizing a Cultural Powerhouse: Kim Koo’s Vision of Cultural Power and Policy Directions, an international academic conference jointly organized with the Korean Association for Policy Studies, at BEXCO in Busan. The conference was an official side event of the 48th session of the UNESCO World Heritage Committee. The event examined Kim’s belief that cultural strength could help create a nation that contributes to peace and prosperity around the world. Kim, a prominent figure in Korea’s independence movement, expressed his aspiration for a country with the power of culture and emphasized the importance of cultural influence beyond political and economic strength. The conference was divided into two sessions featuring presentations and discussions by domestic and international e

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Korea reimagines its independence ideals as tool for modern diplomacy

K-Culture

HYBE to launch new 7-member girl group Tuide this year

K-pop powerhouse HYBE on Monday unveiled the name and logo of its upcoming girl group Tuide set to debut later this year. The seven-member act will be the first group to debut under Hybe's new label ABD, according to the company. Its name comes from the phrase "Tune the tide," which reflects the group's aspiration to express each member's unique individuality while coming together to create a harmonious sound, it added. Veteran producer Han Sung-soo of Pledis Entertainment, who has previously worked with artists including Seventeen, After School, Iz*one and TWS, will lead production for the new girl group, according to HYBE. With Tuide's debut, HYBE will expand its lineup of girl groups, which includes Le Sserafim under Source Music, NewJeans under ADOR, Illit under Belift Lab and Katseye under HYBE Labels.

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HYBE to launch new 7-member girl group Tuide this year

Celebrities

Lim Ji-yeon, Lee Do-hyun mark third year of public dating

The continuing relationship of actors Lim Ji-yeon and Lee Do-hyun has drawn attention online following reports of their apparent golf outing. A post detailing a reported sighting of the couple was shared on an online community, though the source provided no independent corroboration of the account. A person who posted anonymously on the platform said they saw the actors and believed the two had come to play golf together, noting that Lee Do-hyun was deeply tanned and his physique looked even more impressive than on television. The poster brought renewed attention to the couple by writing that they looked "very lovey-dovey" together. The sighting highlighted the affectionate continuing relationship between the two stars, who have been publicly dating for three years. Lim Ji-yeon, born in 1990, is five years older than Lee Do-hyun, who was born in 1995. The couple met while working on the hit Netflix series "The Glory" and confirmed their relationship in April 2023. Lee Do-hyun drew wide attention to their relationship the following year when he won Best New Actor in the film category at the

1 MIN READ
Lim Ji-yeon, Lee Do-hyun mark third year of public dating

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Opinion

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Top 10 Stories

  1. Foreign worker doxed by interpreter after fleeing armed threats, civic groups say

  2. Coupang logistics center fire exposes warehouse safety risks

  3. UNESCO adopts Busan Declaration for global heritage preservation

  4. Questions persist over defense minister's military service record

  5. Korea opens civil servant training program for developing nations

  6. President Lee's apartment sold for $1.96 mil.

  7. Prolonged won weakness weighs on Korean firms, banks

  8. T'way Air's European windfall turns into costly burden

  9. S. Korea spends $158,800 to support N. Korean women's football team's matches

  10. Korea's Daejeon selected as host city for 2029 Invictus Games: veterans ministry

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