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DPK factional divide becomes more visible after local elections

A simmering factional divide within the ruling Democratic Party of Korea (DPK) has become increasingly visible nearly two weeks after the June 3 local elections, with loyalists of President Lee Jae Myung and party Chairman Jung Chung-rae exchanging mocking labels that lay bare the depth of the rift. The antagonism has proved more entrenched than many had assumed. Those aligned with the president have sought to disparage pro-Jung figures with a derogatory acronym: "Moon-Cho-Teol-Rae-Rhyu." The acronym, which references former President Moon Jae-in and four of his notable associates, including Jung, is crafted from syllables of their names and well-known personal traits of Moon and his allies — Cho Kuk, Kim Ou-joon, Jung and Rhyu Si-min. The former president remains a potent force within the DPK despite Lee having taken control of the party before being elected as president in June 2025. Cho served as Moon's justice minister, while Kim, a left-leaning journalist and broadcaster, is known for his trademark thick beard, earning him the nickname “teolbo,” or bearded man, from which the

3 MIN READ
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No need for Team Korea to fear Mexico

Korea heads into the lion’s den to take on Mexico in Guadalajara late Friday morning Seoul time. Ever since the draw was made for the 2026 World Cup in December, everyone knew that this would be the toughest game. However, it is not as daunting as it could have been, as the Taegeuk Warriors have three points in the bank after a 2-1 win over the Czech Republic last week. With its final game against South Africa to come next week, Korea is in a good position. Had the opener ended in a loss — and that was a possibility before Hwang In-beom and Oh Hyeong-gyu scored to negate a Czech lead — then the team would have desperately needed a result against Mexico and been under real pressure. Now, a draw would be fine, and even a defeat, as long as the performance was OK, would not be the end of the world — or the World Cup. A win, however, would be spectacular and a real statement against a Mexican team ranked 13th in the world, eight above Hong Myung-bo’s men. It would help Korea become the first team to secure a place in the Round of 32 in the new expanded format. There’s more. In i

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Chip giants push KOSPI past 9,000, masking broader market weakness

KOSPI set another record on Thursday, surpassing the 9,000 mark for the first time on a strong rally in large-cap semiconductor and IT stocks. However, the broader market continued to show signs of deepening polarization, with small- and mid-cap stocks increasingly left behind. According to the Korea Exchange, the benchmark index closed at 9,063.84, up 2.25 percent from the previous session. The index briefly rose as high as 9,106.07 before paring some gains ahead of the closing bell. Foreign investors led the rally, buying a net 1.44 trillion won ($942.6 million) worth of shares. Retail and institutional investors, meanwhile, offloaded a net 543.9 billion won and 680.3 billion won, respectively. The secondary Kosdaq market closed at 1,000.93, down 3.01 percent. The index was dragged lower by foreign and institutional selling, despite retail investors’ net purchases. The exchange rate stood at 1,527.1 won per dollar, with the Korean currency depreciating by 13.7 won from the previous session, driven by dollar strength following the hawkish Federal Open Market Committee (FOMC) meeting o

2 MIN READ
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National Assembly launches probe into ballot shortages as NEC scandals mount

The National Assembly approved a sweeping parliamentary investigation into the June 3 local election ballot paper shortage, paving the way for a broader probe into irregularities at the National Election Commission (NEC), an institution long insulated by constitutional guarantees of its independence. The special committee on the Ninth Nationwide Local Elections Ballot Paper Shortage and Election Management Reform was officially launched on Thursday after legislators adopted the investigation motion and its 45-day plan in a plenary session, with 250 of 251 lawmakers present voting in favor. The probe will run in parallel with a separate criminal investigation that has already begun calling in election workers. The 18-member committee is made up of nine lawmakers from the ruling liberal Democratic Party of Korea (DPK), seven from the People Power Party (PPP) and two from minor parties, with PPP lawmaker Yoon Sang-hyun as chair. “The committee pledges before the people that it will do its utmost to uncover the full truth and to pursue sweeping reforms of election management, so that the

3 MIN READ
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President to host dinner for diplomatic corps next Tuesday

President Lee Jae Myung will host a dinner reception next Tuesday for heads of diplomatic missions and representatives of international organizations in Korea, the presidential office said Thursday. The reception, to be held at Cheong Wa Dae, will bring together ambassadors representing all 118 resident diplomatic missions in Korea and delegates from 30 international organizations, presidential spokesperson Kang Yu-jung said in a written briefing. Among the guests will be Chafik Rachadi, Morocco's ambassador to Korea, who serves as dean of the diplomatic corps. Since 1998, Korea has regularly held presidential receptions for the diplomatic corps at Cheong Wa Dae to demonstrate its commitment to strengthening ties with foreign governments and to seek support and cooperation for major policy initiatives. This year's gathering will take place in Nokjiwon, a garden within the Cheong Wa Dae compound, for the first time since 2019. The presidential office returned from Yongsan District in central Seoul last year. Kang said the upcoming gathering reflects efforts to restore regular communication

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Korea rises 6 spots to 21st in world competitiveness rankings

Korea rose six places to rank 21st out of 70 countries in the International Institute for Management Development’s World Competitiveness Ranking, marking its second-highest position since it was first included in the evaluation in 1997, the Ministry of Finance and Economy said Thursday. Among countries with per capita incomes of more than $30,000 and populations of more than 50 million, Korea ranked second after the U.S., up from third place. The annual ranking is regarded as one of the most representative indicators of national competitiveness, the ministry said. Covering 70 countries, including OECD members and emerging economies, the IMD assessment evaluates the capacity of nations and businesses to increase wealth and improve quality of life. Korea’s previous highest ranking was 20th in 2024, while its lowest was 41st in 1999. Across the four main categories, sharp gains in business efficiency and infrastructure drove Korea’s overall rise. Government efficiency remained unchanged from the previous year, while economic performance edged down. Business efficiency saw the biggest j

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Ministries clash over whether to call North Korea 'principal enemy'

The Ministry of Unification on Thursday challenged the defense ministry’s position that North Korea remains a "principal enemy," saying the Lee Jae Myung administration’s goal of peaceful coexistence cannot be reconciled with treating Pyongyang in such terms. The remarks exposed a rare policy divide within the government as the Ministry of National Defense prepares its 2026 Defense White Paper, the first to be issued under the Lee administration. “The peaceful coexistence of the two Koreas is a firm policy goal of the Lee Jae Myung government,” a unification ministry official told reporters during a background briefing. “One cannot pursue peaceful coexistence with North Korea while defining it as a principal enemy.” The comments came hours after the defense ministry rejected media reports suggesting it was considering dropping references to North Korea as an enemy in the upcoming white paper. “The report is not true,” Lee Kyung-ho, deputy spokesperson for the defense ministry, said during a regular briefing. “Our position that the North Korean regime and the North Korean

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First heat wave alerts of year issued for Seoul, surrounding areas

The state weather agency on Thursday issued the first heat wave advisories of the year for Seoul and its surrounding areas. The Korea Meteorological Administration (KMA) put the alerts into effect at 2 p.m. for southern Seoul, parts of the surrounding Gyeonggi Province and Ganghwa County in Incheon, west of the capital. Earlier at 11 a.m., separate advisories were also issued for Gyeonggi's Hanam and Yeoju, alongside the country's southeastern regions of Gyeongsan, Yecheon and Gunwi, the KMA said. A heat wave advisory is issued when the maximum apparent temperature is expected to remain at or above 33 C for two or more consecutive days.

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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 between 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

2 MIN READ
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US Fed's hawkish hold strengthens case for BOK rate hike in July

The U.S. Federal Reserve's hawkish signal has reinforced expectations that the Bank of Korea (BOK) will raise interest rates as early as next month, market observers said Thursday. With inflation concerns persisting in both countries, monetary officials in Washington and Seoul are increasingly focused on restoring price stability, potentially marking the start of a renewed tightening cycle in both economies. The Fed held its benchmark interest rate steady Wednesday (local time) in its first policy decision since Kevin Warsh became its chair. The U.S. central bank unanimously left the federal funds rate unchanged at 3.5 percent to 3.75 percent, marking its fourth consecutive pause. The latest dot plot showed that nine of the 19 Federal Open Market Committee participants expected interest rates to be higher than current levels for the rest of this year. Warsh did not submit a rate projection. The Fed's hawkish stance has added to pressure on the BOK to tighten its policy, as officials here seek to contain inflation and limit the impact of a wide interest rate gap with the United States. Mar

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Baritone Matthias Goerne, pianist Sunwoo Ye-kwon bring Schubert's songs to Seoul

German Baritone Matthias Goerne and pianist Sunwoo Ye-kwon will guide Seoul audiences through the stark emotional landscape of Schubert’s “Winterreise” on Sunday, bringing the wintry song cycle to life during the sweltering Korean summer. The concert is part of the Hansae Yes24 Foundation’s “Hansae Classic Lied” series, which aims to popularize the German art song repertoire by pairing leading international vocalists with top Korean pianists. This year’s edition reunites Schubert’s 24-song masterpiece with one of its most acclaimed interpreters and a homegrown star pianist who calls the composer “the most personal and human” in his music world. “For me, Schubert is maybe, next to Bach, the most important composer,” Goerne told reporters at a press conference in Seoul Thursday. “Without Shubert, I think I would say I never would have become a singer.” The baritone recalled discovering the composer’s music as a child and now estimates he has performed it at least 250 times for nearly four decades on every continent. Goerne described “Winterreise” as a “re

2 MIN READ
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No formal request made to Korea for participation in Iran reconstruction fund: sources

Korea has not formally received any request from the United States or other parties regarding participation in a proposed post-war reconstruction fund for Iran, sources familiar with the matter said Thursday. On Wednesday (U.S. time), U.S. President Donald Trump unveiled the text of a 14-point memorandum of understanding (MOU) under which Washington and Tehran agreed to negotiate a final agreement within 60 days to end their monthslong war. The document also included Iran's reaffirmation that it will neither acquire nor develop nuclear weapons. The MOU outlines provisions for reopening the Strait of Hormuz, while stating that the U.S. will work "with regional partners to develop a definitive, mutually agreed plan with at least $300 billion" for Iran's reconstruction and economic development. According to foreign media reports, more than half of the proposed private-sector fund has already been committed, with companies from Korea, Japan, Singapore, Malaysia and the U.S. said to be among those that have pledged participation. "The proposed reconstruction fund is linked to negotiations on

2 MIN READ
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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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Gold's unusual price swings leave investors at crossroads

Gold, a traditional safe haven asset, has recently confounded investors with price movements that defy conventional market expectations, according to market watchers Thursday. Prices fell during a period of escalating military tensions between the United States and Iran, only to rebound after the two sides reached a ceasefire agreement, challenging the long-held assumption that gold rises during wars and declines once conflicts subside. Unusual movements in gold prices have fueled debate among investors over whether the recent correction signals further losses ahead or a buying opportunity. According to the Korea Exchange, the domestic spot gold price rose for four consecutive trading sessions, climbing from 208,820 won ($137) per gram on Monday to 209,640 won on Tuesday, 209,700 won on Wednesday and 210,530 won on Thursday. Gold prices had fallen below the 200,000 won mark, touching an intraday low of 196,780 won on June 11 as the Middle East conflict continued. They later rebounded after U.S. President Donald Trump announced on June 14 that an agreement had been reached with Iran to en

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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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Recognition or sidelining? Reactions mixed as Grammys unveil Asian pop category

The Grammy Awards will add a Best Asian Pop Music Performance category, a move read as recognition of Asian music's global reach after years of criticism that the show favored English-language acts and lagged behind the times. The Recording Academy, which runs the Grammys, announced the rule change on its website Tuesday (local time). The new category takes effect at the 69th Grammy Awards next year, alongside four others — Best Latin Song, Best Traditional Pop Vocal Performance, Best R&B Collaboration or Duo/Group Performance and Best Traditional Folk Album. For Korea, the Asian pop category was the most welcome news of the bunch. BTS and other K-pop acts have topped Billboard's main chart and sold out world tours for years, yet the Grammys remained the one stage they could not crack. Because Grammy wins were especially hard to come by, some saw the change as a milestone cracked open by years of persistent knocking from K-pop music. "Now that there is finally a category where K-pop artists can be officially recognized, it opens the door for far more artists to enter the conversation t

3 MIN READ
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Meritz's funding condition pushes Homeplus closer to bankruptcy

Meritz Financial Group has approved 100 billion won ($66 million) in emergency financing for Homeplus, the struggling retailer currently undergoing court-led rehabilitation, the company said Thursday. However, confusion continues to deepen as the blame game intensifies between MBK Partners, Homeplus' largest shareholder, and Meritz over the latter's conditional loan offer. The approval falls short of the 200 billion won sought by Homeplus. Meritz also stipulated that the funds can only be drawn if MBK Partners, the private equity firm that controls the retailer, and MBK Chairman Michael ByungJu Kim provide legally valid and enforceable joint guarantees, casting doubt on whether the financing will ultimately be disbursed. The conditions have heightened concerns over Homeplus' restructuring prospects, with industry observers warning that the retailer could face bankruptcy if it fails to secure sufficient funding before a key court deadline in July. According to Meritz, its board approved the 100 billion won debtor-in-possession (DIP) loan at a meeting on Wednesday. Rather than being disburs

3 MIN READ
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All-in-one apps emerge as new battleground among financial groups

Major financial groups are stepping up efforts to consolidate banking, securities, card and insurance services into single mobile platforms, intensifying competition to build all-in-one financial apps, industry officials said Thursday. The latest move came from Shinhan Financial Group, which on Wednesday unveiled its new integrated financial platform, Shinhan Super SOL, as part of a broader strategy to unify services across its banking, card, securities and insurance affiliates. According to the company, the upgraded platform allows customers to access banking, card, securities and insurance functions through one application, reducing the need to repeatedly log in or switch between apps. The launch reflects a broader industry trend as major financial groups seek to strengthen customer loyalty and increase user engagement within their digital ecosystems. Other financial groups are pursuing similar strategies. Earlier this year, Hana Bank overhauled its Hana One Q app to integrate deposits, loans, foreign exchange and card-related services into a single platform. Woori Bank has expanded the

1 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

Seoul opens 6 Han River park pools, water playgrounds for summer season

Seoul opens 6 Han River park pools, water playgrounds for summer season

Seoul will open six outdoor swimming pools and water playgrounds along the Han River starting Friday, offering residents and tourists a popular urban escape from the summer heat. The facilities — located at Ttukseom, Yeouido, Jamsil, Gwangnaru, Nanji and Yanghwa parks — will operate through Aug. 30, according to the Seoul Metropolitan Government. The sites are part of the city's extensive Han River park system, a major recreational destination that stretches across the capital. The city said more than 552,000 visitors used the facilities last year, a 77 percent increase from 2024, highlighting growing demand for affordable outdoor leisure activities in Seoul. Most locations will operate daily from 9 a.m. to 6 p.m., with extended evening hours until 10 p.m. from July 3 through Aug. 30 at selected venues, including Ttukseom, Yeouido, Jamsil and Nanji. Operations may be suspended during severe weather events, including typhoons, heavy rainfall or poor air quality conditions. City officials have also prepared special summer programs, including live acoustic guitar performances, orchestral

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Lifestyle

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 on 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

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

K-Culture

Classic K-dramas turn into reunion shows

Iconic K-dramas from the mid-2010s are returning to small screen, but not as reruns or a retrospective. Instead, they're coming back as show spin-offs. Networks tvN and KBS2 announced upcoming 10th-anniversaryspecials for their 2016 hit series "Guardian: The Lonely and Great God" and "Love in the Moonlight." The announement reflects TV networks leveraging legacy intellectual property to capture both nostalgic older fans and younger streaming audiences. Local broadcaster tvN will premiere "Guardian: The Lonely and Great God – 10th Anniversary" on July 4. For the event, original cast members Gong Yoo, Kim Go-eun, Lee Dong-wook and Yoo In-na reunite and revisit the show's famous filming locations, including Jumunjin Breakwater in Gangneung, Gangwon Province. Teasers showed the actors returning to the seaside with original props from the show, including the drama's signature red scarf. "It was the most brilliant winter for me," actor Gong, who took the role of a cursed 939-year-old goblin who is looking for his bride so that he can stop being immortal, said in a promotional clip, reminisci

3 MIN READ
Classic K-dramas turn into reunion shows

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. Why young Koreans are turning to bus-driving jobs

  2. Almonty confirms molybdenum reserves in Gangwon Province

  3. DPK factional divide becomes more visible after local elections

  4. First heat wave alerts of year issued for Seoul, surrounding areas

  5. Chip giants push KOSPI past 9,000, masking broader market weakness

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

  7. President to host dinner for diplomatic corps next Tuesday

  8. Korea rises 6 spots to 21st in world competitiveness rankings

  9. KOSPI tops another historic milestone 9,000 on chip rally

  10. ED Iran's reconstruction & US allies

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