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KOSPI tops another historic milestone 9,000 on chip rally

Seoul stocks crossed another round-number milestone of 9,000 for the first time in their history Thursday, buoyed by an extended rally in chipmakers and other artificial intelligence (AI)-related stocks, in the face of a hawkish stance by the U.S. Federal Reserve and Iran uncertainty. The benchmark Korea Composite Stock Price Index (KOSPI) added 129.42 points or 1.46 percent to 8,993.66 as of 1:52 p.m., after rising as high as 9,040.52. It took less than a month for the index to top the new milestone, after breaking the 8,000-point mark on May 26. The index had delivered a record-breaking run for five straight sessions since last Thursday on the peace agreement reached between the United States and Iran, as well as extended optimism for the AI sector. The KOSPI broke above the 3,000 mark on June 20, 2025, and surpassed 4,000 points on Oct. 27, 2025. On Jan. 22, it hit 5,000 points and touched 6,000 points on Feb. 25. The benchmark index was led by the country's two chip giants — Samsung Electronics and SK hynix — on continued confidence over AI and related sectors. Shares of Samsung Ele

2 MIN READ
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Hefty fines loom for Baemin, Coupang Eats as FTC rejects self-correction bids

The Fair Trade Commission (FTC) has rejected self-correction proposals from the country's top two food delivery platforms, Baedal Minjok, informally known as Baemin, and Coupang Eats, paving the way for fines that could amount to tens of billions of won over allegations that they abused their market dominance, the antitrust watchdog said Thursday. The regulatory authority rejected the companies’ applications for a consent decree — a mechanism that allows firms to resolve antitrust cases without admitting liability by offering voluntary remedies — ruling that they did not meet the legal requirements to initiate such a settlement process. The fines expected to be imposed on Baemin and Coupang are estimated at 239 billion won ($157 million) to 510 billion won, and 25 billion won to 42 billion won, respectively. Following the latest decision, the watchdog will resume its formal review to determine the illegality of the practices and the scale of sanctions. The watchdog’s probe into the two companies has focused on finding alleged anti-competitive practices, including unfair treatment

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Why young Koreans are turning to bus-driving jobs

A young man who left a job at a semiconductor company to become a bus driver is drawing attention after sharing why he believes the career switch improved his quality of life. Lee Seung-jun, a bus driver in his 20s, appeared on the popular tvN talk show "You Quiz on the Block" on Wednesday, where he spoke about his decision to leave the corporate world and take the wheel of a city bus instead. His story has resonated with many young Koreans at a time when growing numbers are reconsidering traditional career paths and placing greater value on work-life balance, job security and workplace culture. Host Yoo Jae-suk said applications from people in their 20s and 30s for bus driver positions have surged in recent years, citing figures showing a 43 percent increase over the past three years. Lee said he was the only bus driver in his 20s when he first entered the profession, but several young drivers have since joined his company. "When I became a bus driver, I was the only person in my 20s," Lee said. "Now there are six of us, including me." Asked why the job is attracting younger workers, Lee

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Overcharging hotels risk losing star rating under new rules

Hotels found to have overcharged customers could face a 30-point deduction in their rating evaluation, a penalty steep enough to cost a hotel its star rating. The move signals a tougher stance on price gouging, penalizing such offense three times more heavily than most other violations. The Ministry of Culture, Sports and Tourism said Thursday that it had issued advance public notice of a proposed revision to the guidelines governing hotel grading operations. Under the revised plan, tourist hotels face a new 30-point rating deduction for overcharging customers, compared with a 10-point deduction for most other violations, including hotel fires, illegal activity and administrative sanctions from sanitation or fire inspections. With up to 1,000 points given under the rating system and only a 100-point gap five-star and four-star thresholds, overcharging violations could push a hotel below its rating tier. The new criterion came after a price gouging controversy surrounding BTS' concerts in Busan, when many accommodations throughout the southern port city simultaneously raised their prices

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Lee to give press briefing on results of Europe trip

President Lee Jae Myung plans to give a press briefing this week on the results of his 10-day trip to Europe that included visits to Belgium and Italy, and his attendance at a Group of Seven (G7) summit, his office said Thursday. Lee, who returned from the trip earlier in the day, will brief reporters at Cheong Wa Dae at 2 p.m. Friday, according to his spokesperson, Kang Yu-jung. During the trip, Lee expanded his administration's diplomatic outreach to Europe and sought global support for inter-Korean peace through his meeting with Pope Leo XIV at the Vatican. At the G7 summit in Evian-les-Bains, France, he held a series of bilateral and multilateral meetings with world leaders. In a brief exchange with U.S. President Donald Trump, he discussed the Korea-U.S. alliance and issues related to the Korean Peninsula and the Middle East.

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OpenAI's Sam Altman postpones visit to Korea due to daughter's birth: sources

OpenAI CEO Sam Altman's visit to Korea, originally scheduled for earlier this week, has been postponed due to the birth of his second daughter, sources here said Thursday. Altman had been set to arrive in Korea on Sunday for a two-day trip that included meetings with major technology companies, including Samsung Electronics, to discuss potential cooperation in artificial intelligence. During the visit, Altman was also expected to meet executives from portal operator Naver Corp. and mobile platform operator Kakao Corp. "The postponement appears to have been driven by family priorities rather than any business-related issues," an industry insider said on condition of anonymity. "In the United States, it is generally considered natural to adjust schedules for family events, such as the birth of a child." OpenAI previously said it hopes Altman will be able to visit Korea in the near future and meet local partners in person.

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Rain, altitude and 45,000 home fans: Korea braces for toughest World Cup test against Mexico

The Korean men's national football team faces what could be its toughest challenge of the World Cup group stage as it takes on host nation Mexico, as they must overcome a partisan home crowd, high altitude conditions and rainy weather in pursuit of a historic victory. Led by head coach Hong Myung-bo, Korea will face Mexico in its second Group A match of the 2026 FIFA World Cup on June 19 at Guadalajara Stadium in Zapopan, Mexico. After defeating the Czech Republic in its opening match on June 12 to secure the country's first World Cup opener victory in 16 years, Korea can clinch its first-ever two-win start to a World Cup and lock up first place in the group with another victory. The task, however, comes with significant obstacles. The most immediate challenge will be the sea of green filling Guadalajara Stadium, which has an official capacity of 45,664. Shin Yeon-ho, head coach of Korea University and a member of Korea's celebrated semifinal team at the 1983 FIFA World Youth Championship in Mexico, described Mexican supporters as among the most passionate in world football. "The entire

3 MIN READ
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Queer art finds home in Seoul: Inside ‘Spectrosynthesis’ and collector's vision

Sunpride Foundation founder and executive director Patrick Sun likes to joke about his last name. But at Art Sonje Center in Seoul, he is doing more than beaming — he is shining light queer histories, long scattered and half-hidden in the city, helping them slowly come into public view. Art Sonje Center is currently hosting “Spectrosynthesis Seoul,” the first large-scale institutional exhibition in Korea devoted to queer art, featuring works by 74 artists and collectives from Korea and beyond. The show is the fourth edition in Sunpride’s touring “Spectrosynthesis” series — following Taipei, Bangkok and Hong Kong — and brings together pieces from the foundation’s collection and new commissions to sketch a queer cartography of Seoul. Blending “spectrum” and “synthesis” in its title, the exhibition invites multiple voices and perspectives on queer life to respond directly to the city’s shifting social and political landscape. Curated by Art Sonje artistic director Kim Sun-jung and media culture scholar Lee Yong-woo, the show spills out from the main galleries in

5 MIN READ
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AI-generated complaints create new headaches for insurers

A recent customer complaint filed with one of the top three life insurers in Korea appeared convincing at first glance. It cited what seemed to be relevant laws and argued that the company had misinterpreted them. There was one problem: The law did not exist. "Sometimes customers cite statutes that simply aren't real," a company official said. "Other times the law itself exists, but the interpretation is completely off. We're seeing more grievances that sound plausible on the surface but don't hold up under scrutiny." At another big-name non-life insurance firm, claims handlers encountered a different telltale sign of artificial intelligence (AI). One submission still contained the asterisks that ChatGPT typically uses for emphasis. "People can put a few details into ChatGPT and ask it to draft a complaint for them. We are definitely seeing cases like that," an official at the insurance firm said. These episodes illustrate a growing challenge for the country's insurance sector as more consumers turn to generative AI tools to draft complaints and appeals. While chatbots can help explain com

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BTS expands world tour to 88 shows, adding Jakarta, Bulacan

BTS has added concerts in Jakarta and Bulacan to its ongoing “BTS World Tour ‘ARIRANG,’” expanding the trek to a total of 88 performances, the group said through the global fan platform Weverse. The newly announced dates include an additional show in Jakarta, Indonesia, on Dec. 29 and an added performance in Bulacan, the Philippines, on March 16 next year. The Jakarta stop had originally been scheduled for Dec. 26 and 27 at Gelora Bung Karno Main Stadium, but demand prompted organizers to add a third night on Dec. 29, according to the announcement. In Bulacan, the group had been set to perform March 13 and 14 at Philippine Sports Stadium before adding the March 16 concert. The latest additions continue a series of expanded stops across the tour as BTS draws strong demand in multiple markets. The group previously added one extra performance each in Tampa, Stanford and Las Vegas in the United States, as well as in Lima, Santiago, Buenos Aires and Melbourne. BTS recently completed its “Homecoming” concerts at Busan Asiad Main Stadium on Friday and Saturday, performing for about 11

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Protests over ballot shortage during local elections enter 14th day

Protests demanding a rerun of the June 3 local elections marred by ballot paper shortages continued for the 14th day Thursday at a ballot counting site amid sweltering heat. Under the scorching sun, protesters chanted slogans claiming election fraud outside SK Olympic Handball Gymnasium in Seoul's southern ward of Songpa, which was used as a ballot counting center for the elections. The protests began June 5, two days after ballot shortages temporarily suspended voting at 26 polling stations. Some protesters could be seen cooling themselves off with fans while guarding the entrance of the gymnasium in a move to prevent election officials from removing ballot boxes inside. While the National Election Commission (NEC) has apologized for the ballot shortages, it says they do not warrant a rerun under the election law. A joint team of police investigators and prosecutors has been investigating the NEC over the shortages. Meanwhile, police have booked a man in his 30s who was taken into custody after brandishing and swinging a sharp weapon near the gymnasium on Wednesday. The man, who injured h

1 MIN READ
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Lee recounts 90-minute chat on Korean Peninsula, golf invitation from Trump

President Lee Jae Myung said Wednesday that he and U.S. President Donald Trump held a 90-minute discussion on peace on the Korean Peninsula and the Korea-U.S. alliance during the Group of Seven (G7) summit, where Trump also invited Lee and first lady Kim Hea Kyung to play golf. In a post on X, formerly Twitter, after boarding his flight home from Europe, Lee shared a photo with Trump and said they spent about 90 minutes talking during the G7 leaders' dinner in Evian-les-Bains, France. "During dinner with President Trump, we had an in-depth conversation for about 90 minutes about peace on the Korean Peninsula and Korea-U.S. relations, and made significant progress," Lee wrote. "Perhaps he remembered receiving the pen I was using during our first summit," Lee wrote. During a summit at the White House last August, Trump reportedly asked for the pen Lee had used to sign the guestbook, and Lee gave it to him. According to Lee, Trump also raised the possibility of playing golf together with Lee and Kim. Lee said his wife secured a "pinky promise" from Trump during dinner and that the U.S. pres

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US, Iran sign initial deal to end war, ease sanctions and open strait as nuclear talks continue

WASHINGTON — U.S. President Donald Trump signed an agreement with Iran on Wednesday that calls for Tehran to dilute its stockpile of highly enriched uranium and waives U.S.-backed sanctions on the country, immediately allowing Iran to sell its oil freely in a major concession from Washington, according to details released by both countries. The initial deal to end the war takes “immediate effect” after leaders from both countries signed it, Pakistani Prime Minister Shehbaz Sharif, who helped mediate the agreement, said online. The agreement calls for a permanent end to hostilities and starts a 60-day negotiating clock to reach a final deal on the future of Iran's nuclear program, though Trump left the door open to resume attacks. It appears to offer Iran several benefits up front while extracting little in return. The deal has been shrouded in secrecy and confusion for days. U.S. officials refused to disclose the terms even after saying Trump and Vice President JD Vance digitally signed it over the weekend. Trump signed a physical copy Wednesday while dining with French President

5 MIN READ
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ENHYPEN returns as 6-member group after major lineup change

After months of speculation following a member's departure, K-pop boy group ENHYPEN is set to make its first comeback as a six-member act. ENHYPEN — Jungwon, Jay, Jake, Sunghoon, Sunoo and Ni-ki — will release a new album in August, marking the group's return to the music scene after seven months. The upcoming release will be ENHYPEN's first since its seventh EP, "THE SIN : VANISH," which came out in January and further cemented the group's global popularity. The comeback is drawing particular attention because it will be the group's first promotional cycle since Heeseung, now known by the stage name EVAN, left the group in March. The lineup change sparked widespread discussion among fans, making the August return one of the most closely watched K-pop comebacks of the second half of the year. ENHYPEN previously achieved its fourth double-million-selling album with "THE SIN : VANISH." The release also spent 10 consecutive weeks on the Billboard 200, Billboard's main albums chart in the United States, underscoring the group's growing international reach. Industry sources said the group

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Anthropic opens Seoul office to expand ties with Korean AI ecosystem

U.S. artificial intelligence (AI) firm Anthropic opened its Seoul office on Wednesday, as the operator of Claude seeks to expand its ties with Korea’s AI ecosystem. “Korean companies and institutions recognize innovation and safety as goals that must go hand in hand, not a contradicting value,” Anthropic Korea Representative Director Choi Ki-young said during a press conference. “Various organizations in the country are using Claude to create positive changes in the lives of millions of people around the world, and the opening of the Seoul office reflects our commitment to build a long-term foundation for collaboration with those leading Korea’s AI ecosystem.” Choi, who joined Anthropic two weeks ago, is a seasoned expert in Korea’s digital infrastructure industry, having served in leadership roles at Google Cloud, Microsoft Korea, Adobe and Snowflake. Anthropic International Managing Director Chris Ciauri said Anthropic believes its ultimate responsibility is AI safety, aligning the company with the Korean government and its AI Framework Act, a law designed to address risk

3 MIN READ
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Editor's Pick

From Labubu to Chagee, Chinese lifestyle brands find growing market in Korea

From Labubu to Chagee, Chinese lifestyle brands find growing market in Korea

On a recent afternoon in Seoul's Yongsan I'Park Mall, dozens of customers lined up for drinks from Chinese tea chain Chagee. Inside the same mall, other shoppers browsed shelves stocked with Labubu, the quirky collectible dolls that sparked a buying frenzy among young consumers last year. The scene highlights a notable shift in Korea's consumer landscape. While anti-China sentiment frequently surfaces in political and diplomatic discussions, Chinese food, toys, travel destinations and lifestyle brands are becoming increasingly familiar parts of everyday life for Korean consumers. Industry experts say the trend is being driven by changing consumer preferences in an era where social media, travel and global cultural exchanges increasingly shape purchasing decisions. Children in Korea grow up eating "malatang," a spicy Chinese noodle soup dish, and "tanghulu," a traditional Chinese snack made of sugar-coated fruit skewers. Young adults are visiting cities such as Shanghai and Chengdu in growing numbers and bringing home consumption trends they discover there. Older generations have long emb

4 MIN READ

Life in Korea

Korea rebrands as weekend getaway to draw returning Chinese tourists

Korea rebrands as weekend getaway to draw returning Chinese tourists

A growing number of Chinese travelers are turning Korea into a weekend destination, and tourism officials are moving quickly to capitalize on the trend with new marketing campaigns aimed at encouraging shorter but more frequent trips. The Ministry of Culture, Sports and Tourism said it is strengthening promotions tied to expanded multiple-entry visa programs, highlighting weekend travel, regional tourism and solo travel experiences for visitors from China and Southeast Asia. Since March 30, Korea and the Ministry of Justice have eased visa requirements for travelers who have previously visited Korea, issuing five-year multiple-entry visas to eligible Chinese and Southeast Asian nationals and 10-year multiple-entry visas to residents of 14 major Chinese cities, the ministry said. According to data from Korea Visa Application Centers in China, the number of general tourism multiple-entry visas issued in April rose 10 percent from March following the policy change. Chinese online travel platform Ctrip also recorded an 80 percent increase in multiple-entry visa applications in April compared

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Lifestyle

Yunchan Lim embraces ensemble role in all-Mozart program

What might have been going through Mozart's mind as he sat at the keyboard composing a concert aria for British soprano Nancy Storace? Watching pianist Yunchan Lim's performance on Monday, perhaps it was simply the hope that her voice would shine. Appearing at Lotte Concert Hall in Seoul on June 15 with Austria's Camerata Salzburg, conductor Masato Suzuki and Korean soprano Lim Sun-hae, Lim deliberately set aside the image of the commanding solo virtuoso. Instead, he presented himself as an attentive ensemble musician, embracing the orchestra and vocalist with uncommon sensitivity. Even his appearance reflected a change. Having cut the long hair he wore during his recital tour last month, Lim took the stage with a shorter hairstyle and a classic brooch pinned to his jacket. The program was devoted entirely to Mozart, featuring Piano Concertos No. 25 and No. 24, with the concert aria "Ch'io mi scordi di te?" K.505 between them. In an unusual format, the featured soloist remained on stage from the opening work through the encore. Performing with around 30 musicians, Camerata Salzburg playe

3 MIN READ
Yunchan Lim embraces ensemble role in all-Mozart program

K-Culture

U-Know Yunho of TVXQ announces 1st solo concert tour across Asia

U-Know Yunho has been anchoring packed stadium shows for the last 20 years as one-half of the seminal K-pop duo TVXQ!. Now, the veteran K-pop star is stepping into the spotlight entirely on his own, announcing a highly anticipated solo concert tour that signals a new chapter in a remarkably enduring career. His agency, SM Entertainment, unveiled Thursday the itinerary of the tour, titled “U-KNOW PROJECT 26 : SCENE#1.” The announcement immediately ignited a flurry of excitement across social media platforms, underscoring the singer’s continuous draw in an industry notorious for its rapid turnover of talent. The tour is scheduled to open in Seoul with a three-night residency at the Ticketlink Live Arena in Olympic Park from July 17-19. Demonstrating his formidable power as a standalone act, tickets for all three initial dates sold out immediately upon release. Following the Seoul engagement, the 40-year-old artist will embark on a sweeping regional tour across seven major Asian markets. The itinerary includes stops in Macau on Aug. 8, Singapore on Aug. 15, Bangkok on Aug. 29, Taipei

2 MIN READ
U-Know Yunho of TVXQ announces 1st solo concert tour across Asia

Celebrities

Namkoong Min, Jin A-reum expecting 1st child

Celebrity couple Namkoong Min and Jin A-reum are expecting their first child, Namkoong's agency said Thursday. "The two are preparing to welcome a new family member of their family with gratitude and excitement, while putting the highest priority on health and stability," 935 Entertainment said. "We ask that you join us in warmly congratulating actor Namkoong Min and his family on this precious blessing," the agency added. Namkoong, who made his debut in the 2001 film "Bungee Jumping of Their Own," has appeared on the TV series "Hot Stove League," "My Dearest" and "Good Manager." Jin, who made her debut as a model in 2008, has ventured into acting, appearing on the film "The Royal Tailor." The couple got married in a private ceremony in 2022 after seven years of dating.

1 MIN READ
Namkoong Min, Jin A-reum expecting 1st child

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Opinion

Top 10 Stories

  1. From Labubu to Chagee, Chinese lifestyle brands find growing market in Korea

  2. Lee recounts 90-minute chat on Korean Peninsula, golf invitation from Trump

  3. Munich’s iconic Oktoberfest is coming to Seoul — with official approval from Germany

  4. REPORTER’S NOTEBOOKWhat Korean football team’s interview boycott reveals

  5. Hanwha Ocean faces mounting costs from blocked icebreaker delivery to Russia

  6. Korean universities rise in QS rankings as internationalization, graduates' reputation improve

  7. Rain, altitude and 45,000 home fans: Korea braces for toughest World Cup test against Mexico

  8. Court increases sentence for Korean husband who poured boiling water on Thai wife

  9. Senate confirms Michelle Steel as US ambassador to Korea

  10. Anthropic opens Seoul office to expand ties with Korean AI ecosystem

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