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COVER STORY Stanford to close Korea research center after 5 years

Stanford University will close its research center in Korea after five years, citing financial and operational difficulties. The U.S. government's planned cuts to research funding for universities are believed to be one of the major reasons, according to officials of relevant public organizations here. The Stanford Center at the Incheon Global Campus (IGC) will conclude all research activities this year and begin winding down operations, Julie Greicius, associate dean for communications and alumni affairs at Stanford Engineering, said in a recent email to The Korea Times. “After opening in June 2021 during the height of the COVID pandemic, the program faced financial and operational difficulties,” Greicius said. Despite the decision, she noted Stanford will remain dedicated to addressing research topics such as urban sustainability and clean-energy challenges in urban environments and expected its broader relationship with Korea to continue through other collaborations. The center opened in June 2021 in Songdo, at the IGC where four foreign universities and three research centers hav

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Kakao spin-off plan faces lingering investor distrust

Kakao’s ambitious plan to split its business into two entities handling its mobile messenger and investment businesses, respectively, is facing lingering investor distrust, with its stock price falling more than 7 percent to wipe out 1.8 trillion won ($1.3 billion) of market cap following the announcement on Friday. The mobile platform giant stressed that the restructuring will take the form of a spin-off, in which shares of the newly created company will be distributed to existing shareholders in proportion to their current stakes, so the measure is aimed at safeguarding shareholder value. However, investors remain skeptical over whether spreading Kakao’s businesses across multiple companies would help enhance corporate value, particularly when its existing artificial intelligence (AI) businesses have yet to generate earnings meeting market expectations. During a board meeting Friday, the company approved the spin-off plan to split Kakao into KakaoAI and KakaoX. Kakao plans to complete the spinoff by Jan. 1 next year, and relist KakaoAI on Jan. 27. KakaoAI will be a newly created en

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85% of staff consider quitting if FSS moves out of Seoul

The prospect of relocating the Financial Supervisory Service (FSS) outside Seoul is raising fears that it could accelerate an exodus of staff that is already well underway, according to industry officials Sunday. The FSS is among the financial institutions being considered for relocation to Sejong, Korea’s administrative capital, as part of President Lee Jae Myung’s broader push to move government agencies out of the Seoul area and ease the country’s heavy concentration around the capital. The Cabinet is expected to begin deliberations as early as next week on the relocation drive. FSS data show that 481 employees left the watchdog between 2022 and July 2026, with more than 100 departing each year. So far this year, 54 employees have already left. Younger staff have accounted for a growing share of departures, with employees in their 20s, 30s and 40s accounting for 180, or 37.4 percent, of the total. They made up half of those who left this year. Amid the ongoing staff exodus, the prospect of relocation has heightened concerns that the FSS could lose even more experienced professio

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K-Market turns Korean ODA rice project into commercial venture in Vietnam

K-Market, the largest Korean-run supermarket chain company in Vietnam, signed a partnership with a local provincial government to purchase and distribute locally grown rice developed through official development assistance (ODA) from the Korean government. According to the company, it signed a memorandum of understanding (MOU) with the Quang Tri provincial government on Thursday, agreeing that the retailer will purchase and distribute the rice grown by local farmers in the province as its private brand product. Under the deal, the company will sell the rice, a Japonica rice variety, for three years through its 150 directly managed stores across Vietnam. This marks a model case of a Korean agricultural ODA project evolving from providing aid and local agricultural infrastructure to creating a bridge toward commercialization. The Japonica rice variety was first introduced to the farmers in Quang Tri province through an ODA effort by the Korea International Cooperation Agency (KOICA) under the Ministry of Foreign Affairs. Funded by the Korean government, the project was launched to help dev

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Regaining weight after diet medication linked to 4-fold rise in suicidal thoughts: study

People who have taken weight-loss medication and regained weight afterward were more than four times as likely to have suicidal thoughts, highlighting mental health concerns tied to the medications. According to a study by a research team at Asan Medical Center on Sunday, people who took weight-loss medication were 1.9 times more likely to experience depression and 2.7 times as likely to have suicidal thoughts than those who had not. The team analyzed data on 27,741 adults, including 10,908 men and 16,833 women, drawn from the Korea National Health and Nutrition Examination Survey conducted between 2013 and 2022. The team divided the group into 846 who had taken medication prescribed by a doctor for weight control in the past year and 26,895 who had not. The study did not distinguish between types of medication. Among medication users, 22.1 percent experienced depressive feelings for two or more consecutive weeks, compared with 11.4 percent of non-users. Mental health counseling was sought by 8.4 percent of medication users, compared with 3.4 percent of non-users. A similar gap appeared o

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BIGBANG proves 20 years of K-pop chemistry at Goyang homecoming

GOYANG, Gyeonggi Province — Eight years and eight months away, and two missing founding members, counted for little at Goyang Stadium on Sunday. One of K-pop's most long-standing, iconic boy bands, BIGBANG packed more than 30 songs into two and a half hours. Roughly 40,000 fans answered with a roar loud enough to leave ears ringing. The three-night run, titled "XX : COSMOS," was the group's first concert in Korea since "LAST DANCE" at Seoul's Gocheok Sky Dome in December 2017. It marked BIGBANG's 20th debut anniversary and the opening leg of its first full world tour as the trio of G-Dragon, Taeyang and Daesung. Fans of all ages from around the globe filled the complex well before Sunday's 7 p.m. start. Daehwa Station on Seoul Metro Line 3, the nearest station to the venue, was already crowded, the late-summer heat matching the mood outside the gates. Just minutes after 7 p.m., the three appeared to the sounds of their 2012 song "Fantastic Baby." Following an intro video built around the latest album's cosmic motif, a screen washed in red split slowly down the middle and the members ap

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InterviewWave to earth shrugs off K-pop, indie labels: 'a band, that is enough'

For two years, wave to earth has been introduced abroad as proof that Korean music extends past K-pop, and at home as a band that never quite left the indie circuit. Asked which description fits, vocalist and guitarist Kim Daniel offered neither. "A band. That is enough," he said in a written interview with The Korea Times. The Seoul trio, made up of Kim, bassist Cha Soon-jong and drummer Shin Dong-gyu, who perform as Daniel, John and DongQ, released its new album "bad pieces" on Aug. 7, its first record in two years. The 11-track album arrives ahead of "the pieces tour," the band's largest run to date, which opens Sept. 4 in Vancouver. The album title is a play on the "Bed Peace" sign that hung behind John Lennon and Yoko Ono during their 1969 bed-in against the Vietnam War. "The photos of the Lennon and Yoko bed-in protests were something we stumbled upon while discussing the direction of this album early on," Kim said. "Lennon and Ono stayed in a bed and called it peace, and we liked that the gesture was that small. This album is a bed on a messed up earth." The band's 2023 debut album

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Why Korean companies flock to Hong Kong to issue digital bonds

Korea's bond market is racking up a series of firsts. This year has seen the country's first digital bond issued by a securities firm, followed by firsts from a private company, a public institution, and, most recently, a bank. The issuers — Mirae Asset Securities, POSCO International, Korea Housing Finance Corporation and KB Kookmin Bank — come from different sectors. Yet the deals have something in common: All were issued on Hong Kong's blockchain rails. "Hong Kong has been taking active steps to develop our digital bond ecosystem," a Hong Kong Monetary Authority (HKMA) spokesperson said. "Issuers from various jurisdictions, including Korea, have successfully issued digital bonds in Hong Kong." Mirae Asset Securities kicked off the run in January with a one-year multicurrency digital bond comprising $41.4 million and $30 million. POSCO International followed in April with a three-year $99.5 million deal, while Korea Housing Finance Corporation issued a two-year $200 million bond in May. KB Kookmin Bank joined in June with a two-year $100 million issuance. All four digital bonds wer

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Ruling party under new leader plans broadcast platform in shift away from maverick media figure

The ruling Democratic Party of Korea (DPK) appears to be distancing itself from Kim Ou-joon, a progressive broadcaster and YouTuber who has long been an influential voice for the ruling bloc, following a bitter leadership race that deepened factional divisions within the party. The feud recently involved a rivalry between new Chairman Kim Min-seok and his predecessor Jung Chung-rae, who, along with Kim Ou-joon, belongs to a group perceived as being at odds with President Lee Jae Myung. By contrast, Kim Min-seok, a former prime minster, is a close Lee ally who defeated Jung in the DPK leadership election, Aug. 17. The new chairman instructed party officials last week to launch an official news program titled “DPK TV” that will deliver party-related news early each morning. The program is expected to begin airing early next month, possibly at around 7 a.m., through Delli Minjoo, the DPK’s existing YouTube channel with about 474,000 subscribers. Kim Min-seok is likely to appear frequently. “We must undertake sweeping changes to everything from the party’s overall brand concept,” K

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No signs of additional deployment of NK troops to Russia detected: S. Korean military

No signs have been detected of any imminent dispatch of additional North Korean troops to Russia, a lawmaker said Sunday, citing a report from the South Korean military. North Korea, however, is believed to continue making preparations for a possible deployment of additional troops to Russia, according to Rep. Yoo Yong-won of the main opposition People Power Party. In a report submitted to the lawmaker, the Defense Intelligence Agency (DIA) said, "North Korea continues to prepare for deployment, but no sign of an imminent deployment of additional troops has been identified." The assessment comes after Ukrainian President Volodymyr Zelenskyy claimed last month that Russia was preparing to bring in an additional 30,000 North Korean troops to a border region in the southwest to assist its war against Ukraine. A military official confirmed that the North appeared to be internally preparing for the possibility of an additional deployment, but no movement pointing to actual preparations has been detected at the working level so far. Last week, Kim Yo-jong, the powerful sister of North Korean le

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Hanwha Group to invest $299 mil. into US defense subsidiaries

Hanwha Group will make investments worth $299 million (415 billion won) into its U.S. subsidiaries, as the group seeks to expand its presence in the country’s defense procurement market. According to industry officials Sunday, Hanwha Group recently decided to make investments into Hanwha Defense USA and Hanwha Futureproof, by subscribing to shares to be issued through rights offerings by the two companies. Among them, Hanwha Aerospace will invest $149 million in Hanwha Defense USA, the former’s wholly owned subsidiary which oversees the group’s land defense business in the U.S. The latest investment alone is about 30 percent larger than Hanwha Aerospace’s cumulative 159.7 billion won of investment into the subsidiary so far. Hanwha companies will also subscribe to a $150 million rights offering by Hanwha Futureproof, a unit focused on investing in strategic assets in the U.S. Hanwha Aerospace will contribute half of the amount, while Hanwha Ocean and Hanwha Systems will each cover 18.75 percent and Hanwha Solutions the remaining 12.5 percent. The investments are in line with Hanwh

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Korean woman fights for workplace harassment 'justice'

Kept in the dark after reporting her boss for harassment, Korean advocate Baek Song-yi is now campaigning for victims' right to know how their bullies were disciplined. Baek, 40, experienced first-hand a troubling paradigm in Korea's workplace harassment response, with victims often expected to keep silent while employers have no clear legal duty to tell them how their cases ended. At her former company, a U.S. firm with offices overseas, Baek said she was verbally harassed by her boss, an older man. When she reported him, the company asked her to accept a confidentiality agreement warning she could be fired for disclosing information discussed during the process. "I was just so stunned," Baek told AFP, adding she had believed her employer encouraged victims to come forward. Baek refused to accept the agreement and the investigation went ahead anyway, ultimately upholding her complaint. The company still declined to disclose what disciplinary action had been taken, citing the need to "align with a privacy protection law" in Korea, Baek said. An investigator told her only that the harasser w

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Gov't, ruling party share need to relax tax rule for single-home owners not living in property

The government and the ruling Democratic Party of Korea (DPK) shared a consensus Sunday on the need to relax a proposed tax revision that could hurt single-home owners not living in the property, a party spokesperson said. The consensus was reached during a high-level policy coordination meeting held for the first time since last Monday's election of former Prime Minister Kim Min-seok as DPK leader. "A consensus was formed between the party and the government on various opinions, such as expanding residency recognition for people who do not live in their property for inevitable reasons," DPK senior spokesperson Park Sung-joon said at a press briefing at the National Assembly after the meeting. Park said the two sides also agreed to push for a revision to the law to authorize local government chiefs to issue construction permits for residential complexes of up to 500 units. During the meeting at the official residence of Prime Minister Han Seong-sook, the DPK leader had addressed the controversy surrounding the government's push to increase housing supply in the greater Seoul area and the

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Police officer under arrest for prematurely closing missing person cases in Jeju

A police officer suspected of closing a missing person case without confirming the woman's safety has been placed under emergency arrest, police said Sunday. The officer was detained without a warrant the previous day on suspicion of dereliction of duty, falsifying official electronic records, and obstruction of official duties through deceptive means, according to the Jeju Provincial Police Agency. The emergency arrest was made after the officer was found to have closed another missing person case prematurely, revealed through the discovery of the man's body on Saturday. The missing woman, 37-year-old Jang Mi-ran, has yet to be found, more than three months after she was initially reported missing by her family. In both cases, the police officer is suspected of arbitrarily closing them after telling the families that the missing people were safe. The officer has claimed that he closed Jang's case after reporting to supervisors that he spoke with her, but a recent investigation found no call records between the two. The police and the Coast Guard began a full-scale search for Jang on Thurs

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Iran warns any country joining US sanctions to be considered 'enemy'

TEHRAN — Iran on Saturday warned countries against participating in the United States' "economic war" against the Islamic republic, saying they would be considered enemies. Washington has pushed its allies to jump aboard U.S. President Donald Trump's new campaign to isolate the Iranian economy, as the president's unpopular war drags toward the six-month mark. "We declare to all countries ... do not join the economic war waged by the United States," said Mohsen Rezai, the head of Iran's supreme national security council, on state television. "Any country participating in the imposition of economic restrictions against us is considered an enemy," he added. If the countries concerned refused to "distance themselves" from the United States, Iran would "harm" their interests, he added. Rezai also insisted that the Islamic republic had more cards to play in the war, claiming that "we have not yet attacked any American economic interests." "So far, we have only targeted military bases, but if they want to impose economic sanctions on us, the United States has oil and economic companies around I

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Non-life insurers set sights on global specialty market as new growth engine

Major Korean non-life insurers are stepping up their push into the global specialty insurance market for new growth opportunities as the domestic market matures, with KB Insurance becoming the latest to pursue a foothold at Lloyd’s of London, industry officials said Sunday. KB Insurance CEO Koo Bon-wook is expected to visit Lloyd’s next month, following board approval in March for the company to pursue an entry into the market. The visit will reportedly give Koo a chance to assess potential entry routes and business opportunities firsthand. The company is set to finalize its plans in the first half of next year. Lloyd’s is the world’s leading specialty insurance marketplace, bringing together syndicates, underwriters and brokers to take on risks that are too complex or high-value for conventional insurers to handle. Its market spans everything from aviation, cyber and professional indemnity to high-value assets such as fine art and jewelry, as well as risks arising from natural disasters, terrorism and war. For KB Insurance, the push overseas comes as growth in Korea’s non-lif

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Daughter of former basketball star Woo Ji-won crowned Miss Korea 2026

Woo Seo-yun, the 22-year-old daughter of former professional basketball player Woo Ji-won, was crowned Miss Korea 2026 on Saturday at the 70th Miss Korea pageant in Seoul. The final competition, hosted by Global E&B, an affiliate of the Hankook Ilbo, the sister paper of The Korea Times, took place at the Coex Auditorium in Seoul. Woo, who has advanced to the national contest after winning second place in the Miss Seoul-Gyeonggi-Incheon regional pageant, emerged as the winner among 26 finalists selected through eight regional competitions nationwide. Oh Su-min, 25, a student of international liberal studies at Waseda University, was named first runner-up, while Lee Min-sol, who studies economics at Yonsei University’s Underwood International College, was named second runner-up. Visibly emotional after receiving the crown, Woo thanked her fellow contestants, family and supporters. “I truly did not expect this at all,” she said. “My 70th-class peers worked so hard, and I am so happy. I am grateful to my family and friends for supporting and cheering me on.” She added that the stage

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How Hanroro beat K-pop powerhouse HYBE, SM, JYP and YG

Last spring a vocal instructor at a private music studio that trains students for college auditions in the greater Seoul area took a call from a mother. The woman was not asking about admissions to a college music program. She asked the instructor, surnamed Lee, to look out for her child, who was under heavy stress from the college admissions grind. The student Lee met at the studio had started university the year before, found her major a poor fit, became socially isolated and dropped out. She was preparing to apply all over again. At the first lesson Lee showed her a list of songs that work well for training. The student wanted something else. "She told me she wanted to sing the song with those lyrics — 'I won't abandon you. You think the same, don't you?'" Lee said. The song was "0+0," by the rock singer Hanroro. Reached by phone on Aug. 13, Lee explained why that request stood out. "At music academies we don't recommend Hanroro's songs first to students preparing for auditions. Her music isn't the kind of material for showcasing vocal range or building instrumental skill. They're ea

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Which day is best for flight booking? Travel expert shares tips for finding cheaper airfares

Airfares account for a significant portion of travel expenses, yet prices fluctuate constantly, leaving travelers wondering when the best time is to book the cheapest tickets. Against this backdrop, travel price comparison platform Skyscanner recently launched the Skyscanner Smart Travel Awards for Korea’s tourism industry, with value for money included as one of its award categories. The inaugural winners, announced on July 29, were Jeju Air for Best Value Short-Haul Airline, Korean Air for Best Booking Experience among airlines, and Hana Tour for Best Booking Experience among online travel agencies. Jessica Min, a travel expert at Skyscanner, spoke about whether there are any reliable ways to find cheaper airfares. Q. There are plenty of tips online for finding cheap flights, such as using incognito mode, searching on Tuesdays or looking for flights at 3 a.m. Are any of these actually true? A. According to Skyscanner, using incognito mode does not affect search results or prices. Prices also do not change because of repeated searches or browser cookies. Search day is not generally a

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Editor's Pick

3 hurdles stand in way of Trump-Kim summit

Analysis3 hurdles stand in way of Trump-Kim summit

U.S. President Donald Trump wants to meet North Korean leader Kim Jong-un again. But seven years after their last summit, Kim has far less reason to return to the negotiating table on Washington’s terms. A summit would first require Kim to respond. Washington and Pyongyang would then have to navigate their fundamental differences over North Korea’s nuclear status, while Trump would have to keep the issue high on his agenda amid competing foreign policy challenges and the approaching U.S. midterm elections. Trump is openly pushing to revive summit diplomacy this year, leaning again on the personal relationship with Kim that produced unprecedented face-to-face meetings during his first term. He also recently ordered a scaling back of the Ulchi Freedom Shield (UFS) exercise between South Korea and the United States, prompting the allies to end the drills six days earlier than planned in what was widely seen as a conciliatory gesture toward Pyongyang. Kim is in no hurry The first question is whether Kim sees enough reason to meet Trump at all. North Korea has offered no direct response fr

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Life in Korea

Should Korea cull stray cats to save birds?

Should Korea cull stray cats to save birds?

As debate intensified over a YouTuber's campaign to ban the feeding of stray cats and reduce their population through culling, Choe Jae-chun, a chair professor at Ewha Womans University and one of Korea's leading ecologists, publicly rejected the proposal. Choe warned that the campaign lacks academic evidence applicable to Korea's ecosystem, making it impossible to conclude that reducing the feline population protects endangered species or aids the environment. Speaking Thursday on his YouTube channel, Choe Jae-chun's Amazon, Choe said the government now needs to respond because a petition informally dubbed the "Cat Mom Ban Law" and a counter-petition opposing it have each drawn more than 50,000 signatures. The YouTuber behind the channel Korean Birder filed the petition on July 10 to prohibit residents from feeding stray cats. The petitioner claims stray cats destroy bird species designated as natural monuments under Korea's heritage protection system, arguing that authorities must replace trap-neuter-return programs, or TNR, with culling. The ban proposal gathered over 50,000 signatur

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Lifestyle

Step inside Gwangmyeong Cave: Former mine transforms into space for meditation, music

Ten beanbag chairs, each large enough for one person to lie down, fill the dark cavern. A single shaft of light filters through an opening on one side, but it is nowhere near enough to illuminate the deep darkness. Even taking a single step requires carefully following the guide's cellphone flashlight. It is hard to believe that this is part of a tourist attraction visited by around 1 million people a year. Yet this is one of the previously inaccessible sections of Gwangmyeong Cave in Gwangmyeong, Gyeonggi Province. Gwangmyeong Cave stretches a total of 7.8 kilometers, but only about 2 kilometers are routinely open to visitors. The remaining sections have been closed because they require maintenance, have been flooded or are too narrow for public access. Efforts to make use of the restricted areas began in July 2020, when three previously inaccessible sections were opened. This year, two additional sections — one above ground and one underground — are being opened temporarily. The above-ground section is hosting the Dark Immersive Meditation program throughout August, while the under

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Step inside Gwangmyeong Cave: Former mine transforms into space for meditation, music

K-Culture

Korean stories becoming Hollywood's favorite sources

Hollywood is showing a growing interest in Korean storytelling that goes beyond K-dramas and K-pop, and the latest adaptation project highlights this expanding focus. While Hollywood previously focused on acquiring finished series for streaming platforms or remaking proven box-office hits, major studios and publishers are now reaching further upstream. Instead of relying solely on mainstream hits, they are trying to secure rights to original literary works and older cult properties to rebuild stories from the ground up. "The DallerGut Dream Department Store," a fantasy novel written by Korean author Lee Mi-ye, is being developed into a live action movie by Disney, U.S. entertainment news outlet Deadline reported Aug. 12. Screenwriter Patrick Ness, known for adapting young adult works, including the "Chaos Walking" trilogy and "A Monster Calls," will write the screenplay for the adaptation. The story follows a protagonist Penny who sells dreams to sleeping customers at a department store, only to face a mystery when strange things begin to happen to the customers. Lee's novel sold more th

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Korean stories becoming Hollywood's favorite sources

Celebrities

G-Dragon says he can't use mobile banking, relies on wealth manager

K-pop star G-Dragon has revealed that he does not use mobile banking and relies on a professional to manage his financial affairs. G-Dragon, Taeyang and Daesung appeared as guests on an episode of web variety show “Pinggyego” on Saturday, as BIGBANG celebrates its 20th anniversary. During the episode, the members discussed how to use kiosks and mobile banking. When the topic turned to mobile banking, G-Dragon said, “I can’t do it,” drawing attention from the other guests. Yoo Jae-suk then asked, “What do you do with your assets if you can’t handle banking?” Haha also joked, “What do you do with all that money?” prompting laughter. G-Dragon explained, “I have someone who manages my assets for me.” He added that while he can handle banking in person by visiting a branch and speaking with a bank employee, he “can’t do anything on mobile.” Daesung agreed, saying that he also finds it most convenient to deal directly with bank employees. “Even when I call, I connect with a customer service representative and handle my business that way,” he said. BIGBANG recent

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G-Dragon says he can't use mobile banking, relies on wealth manager

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Opinion

Top 10 Stories

  1. COVER STORY Stanford to close Korea research center after 5 years

  2. Daughter of former basketball star Woo Ji-won crowned Miss Korea 2026

  3. 85% of staff consider quitting if FSS moves out of Seoul

  4. Regaining weight after diet medication linked to 4-fold rise in suicidal thoughts: study

  5. Why Korean companies flock to Hong Kong to issue digital bonds

  6. Police officer under arrest for prematurely closing missing person cases in Jeju

  7. Kakao spin-off plan faces lingering investor distrust

  8. K-Market turns Korean ODA rice project into commercial venture in Vietnam

  9. Iran warns any country joining US sanctions to be considered 'enemy'

  10. Ruling party under new leader plans broadcast platform in shift away from maverick media figure

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