Koreas

The unification ministry said Friday it views growing calls to refer to North Korea by its official name as part of a broader effort to build public consensus on the issue.

“The ministry is paying attention to religious leaders’ call for the two Koreas to use each other’s official names,” deputy spokesperson Chang Yoon-jeong said at a regular briefing.

“Since their announcement, we have also noted support from various sectors of society, and we will continue listening to these voices going forward,” she added.

The Korean Council of Religious Leaders said the previous day that genuine peace begins with “acknowledging each other as they are,” urging both South and North Korea to refer to each other using their official names, respectively, the Republic of Korea and the Democratic People’s Republic of Korea.

“Respecting each other’s name is the first step” toward peaceful coexistence, the group said.

Kang Chang-il, vice chair of the Peaceful Unification Advisory Council, a presidential advisory body on unification, echoed the call.

“I would first like to express my deep appreciation for the senior religious leaders who said peace begins with respecting each other’s name,” Kang said Thursday.

South Korea currently uses “North Korea” rather than its official name, “Joson” in Korean, as Seoul does not recognize its ties with North Korea as state-to-state relations under the 1991 inter-Korean Basic Agreement.

The debate has gained momentum in recent months, with senior officials, including Unification Minister Chung Dong-young, raising the need for Seoul to call North Korea by its official name to achieve peaceful coexistence.

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President Lee Jae Myung said Wednesday the government will pursue sustained efforts to engage North Korea and replace the Korean War armistice with a peace regime.

Lee made the remarks in a meeting of the Peaceful Unification Advisory Council, a presidential advisory body on unification of the two Koreas.

“At least to open a ‘Korea premium’ era for the future Korean Peninsula that is drawing global attention, we must replace the armistice with a peace regime,” Lee said.

However difficult it may be, the government should continue to “knock on North Korea’s closed door,” the president said.

“Difficult does not mean impossible … If we keep knocking, it will eventually open.”

North Korea has remained unresponsive to the Lee administration’s repeated dialogue overtures, instead hardening its hostile stance toward Seoul.

Since the 1950-53 Korean War ended in an armistice, not a peace treaty, the two Koreas remain technically at war.

“Now is the time to resume action toward peace,” Lee declared, pledging to find a way for the two Koreas to peacefully coexist while respecting each other’s political systems and sovereignty.

“We will never give up (the effort), however slow (the process) may be,” he said.

The president also reaffirmed this administration’s commitment to nonaggression toward Pyongyang, saying Seoul will respect the North Korean system, will not pursue unification through absorption and will not engage in hostile actions.

“I will keep these promises without fail,” he pledged.

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June 30 (Asia Today) — South Korean battery materials producer EcoPro Group is expanding its investment in an Indonesian nickel smelter to more than double its access to the critical mineral used in electric vehicle batteries.

EcoPro and its subsidiary EcoPro BM plan to increase their combined stake in the Bahodopi Nickel Smelting Indonesia project to 39%, becoming major shareholders and taking a leading role in its development. The smelter is under construction at the International Green Industrial Park on the Indonesian island of Sulawesi.

The total investment is estimated at about 1.5 trillion won, or $967 million, based on an exchange rate of 1,550.77 won per dollar.

EcoPro completed the first phase of its Indonesian investment over the past four years, securing rights to about 29,000 metric tons of nickel. Once the second phase is completed, the group expects its total nickel supply rights to reach about 65,000 metric tons.

The group also plans to increase the BNSI smelter’s annual production capacity from the originally planned 66,000 metric tons to 90,000 metric tons. EcoPro said that would be enough nickel for batteries used in about 2 million electric vehicles.

The investment is part of EcoPro’s effort to secure raw materials directly and reduce the cost of nickel-rich cathode materials used in nickel-cobalt-manganese batteries.

EcoPro said it intends to establish an integrated supply chain covering nickel, precursors and cathode materials. The company said the structure is designed to meet U.S. requirements limiting reliance on prohibited foreign entities in clean-energy supply chains. U.S. tax rules restrict access to certain clean-energy credits when components or critical minerals receive material assistance from such entities.

EcoPro expects greater control over raw-material procurement to improve its cost competitiveness and strengthen its ability to win orders from global battery-cell manufacturers and automakers.

EcoPro BM will finance the investments through a 1.2 trillion won, or about $774 million, rights offering. Its board approved the issuance of 9,900,990 new common shares Tuesday.

Of the proceeds, 915 billion won, or about $590 million, will be used to acquire the BNSI stake and complete remaining investments in EcoPro BM’s Hungarian subsidiary.

An additional 135 billion won, or about $87 million, will be used as operating capital, including purchases of raw materials. The remaining 150 billion won, or about $97 million, will finance production facilities.

EcoPro, the group’s holding company, plans to subscribe for more than 120% of the shares allocated to it. The company said the decision demonstrated confidence in the Indonesian mineral business and a commitment to minimizing concerns about the dilution of shareholder value.

“This rights offering is a strategic decision to establish an early position in the global nickel market and improve our competitiveness in nickel-cobalt-manganese cathode materials,” EcoPro BM Chief Executive Officer Choi Moon-ho said.

“By combining EcoPro’s high-nickel technology with a decisive cost advantage, we will work to secure leadership in the global market for nickel-based batteries,” Choi said. EcoPro BM’s official English-language materials identify its chief executive as Choi Moon-ho.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260630010010768

June 23 (Asia Today) — South Korean power equipment maker LS Electric is strengthening its ties with communities in Utah by honoring Korean War veterans and investing in local education as it expands in the fast-growing North American power market.

Demand for power equipment has surged as artificial intelligence companies build more data centers across North America. Against that backdrop, LS Electric Chairman and Chief Executive Officer Ja-Kyun Koo has emphasized what the company describes as a management strategy based on long-term trust with local communities.

LS Electric said Koo has pursued the strategy through LS Electric Utah, formerly MCM Engineering II, in Cedar City. The South Korean company acquired the operation in 2022 and has since directed an expansion of its production facilities.

Koo has highlighted a Korean War engagement involving soldiers from southern Utah as a historical link between the state and South Korea.

On May 26, 1951, 240 members of the Utah National Guard’s 213th Armored Field Artillery Battalion encountered a Chinese force of more than 4,000 troops near Gapyeong in Gyeonggi Province.

The engagement became known in Utah as the “Miracle at Kapyong.” Accounts maintained by the Utah National Guard say the soldiers fought off the advancing force without losing a member of the unit in the battle.

Families and descendants of the veterans remain part of the community around Cedar City, where LS Electric Utah is based.

Koo said the soldiers’ service in an unfamiliar country demonstrated the kind of courage and commitment that a Korean company operating in Utah should recognize.

LS Electric this year sponsored a Southern Utah University program supporting Korean War veterans. The company also paid the travel expenses of surviving veterans who visited South Korea in May for a ceremony marking the 75th anniversary of the Utah unit’s action near Gapyeong.

The company has also supported the development of science, technology, engineering and mathematics education facilities at Southern Utah University as part of its efforts to train workers for the region’s future industries.

LS Electric joined a separate initiative led by the Korea Chamber of Commerce and Industry to connect Korean companies operating in the United States with veterans who previously served with U.S. Forces Korea.

The company said the program could help Korean businesses recruit workers who already have experience with South Korea and its culture.

LS Electric’s community engagement has accompanied a sharp increase in orders for equipment used in North American data centers.

Korea Investment & Securities said LS Electric secured two North American data center equipment projects during the second quarter with a combined value of 489.3 billion won, or about $318 million.

The brokerage expects the company’s North American data center orders to increase by more than 50% from a year earlier and surpass 1.5 trillion won, or about $974 million, in 2026.

“Today, our firm footing in the U.S. market rests on the noble sacrifice of Utah veterans who fought for freedom and peace,” Koo said.

“Remembering and honoring the heroes who created the Miracle at Kapyong is a responsibility that companies should fulfill,” he said.

Koo said businesses built on strong relationships with their communities would be better positioned to achieve stable, long-term growth.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260623010008080

June 15 (Asia Today) — Salt-damaged farmland once unsuitable for either agriculture or aquaculture has become a source of pension income for residents of islands in southwestern South Korea.

Shinan County in South Jeolla Province operates what it calls a “Sunlight Pension,” sharing part of the profits from solar power projects with local residents. The program is regarded as a social economy model that connects large-scale renewable energy infrastructure with household income and local spending.

The county began distributing the pension on Anjwa and Jara islands in 2021 under a renewable energy profit-sharing program. It has since expanded the program to Jido, Saokdo, Imjado and Bigeumdo.

Under the program, part of the profits generated by solar power projects is distributed to residents through local cooperatives.

South Korea’s Ministry of the Interior and Safety regards the Shinan program as a social economy model that converts local resources into resident income while keeping spending within the community. The program brings residents, local government and private businesses together to ensure that some profits from power generation remain in the region.

The model is also consistent with the national government’s initiative to create “Sunlight Income Villages,” where communities receive income from renewable energy projects.

Shinan County enacted an ordinance in 2018 establishing a system to share profits from renewable energy development with residents. Residents do not directly pay the cost of building the power plants. Instead, resident cooperatives participate in the projects and receive dividends from the resulting revenue.

The dividends are paid through local gift certificates, encouraging recipients to spend the money within Shinan County.

“Existing residents are guaranteed dividend benefits, while benefits for new residents vary according to age to encourage younger people to move here,” a county official said. “New residents age 40 or younger are eligible immediately, without a waiting period.”

The program has produced measurable results.

Renewable energy development dividends generated cumulative revenue of 24.71 billion won, or about $16.1 million, between April 2021 and April 2025. Of that amount, 22.32 billion won, or about $14.6 million, was distributed through the Sunlight Pension.

An additional 2.39 billion won, or about $1.6 million, was distributed as a Sunlight Child Allowance for residents younger than 18.

Of Shinan County’s 16,483 residents, 13,284 are members of participating cooperatives, representing a participation rate of 81%.

The Anjwa Solar City power plant serves as the foundation of Shinan’s Sunlight Pension model.

The facility has a combined generating capacity of 288 megawatts, consisting of a 96-megawatt first phase and a 192-megawatt second phase. The first phase began commercial operations in November 2020, followed by the second phase in January 2023.

Plant officials said the project cost about 560 billion won, or approximately $366 million. It generates annual revenue of between 80 billion won and 85 billion won, or roughly $52.3 million to $55.6 million.

The history of the site is also significant.

The land was originally used for farming but became unsuitable for both agriculture and aquaculture because of salt damage and years of use as fish farms. A 2019 revision to South Korea’s Farmland Act allowed salt-damaged farmland to be used temporarily for other purposes, clearing the way for the solar project.

The land is scheduled to be restored to farmland after the solar facilities cease operations.

Anjwa Solar City is considered a leading example of South Korea’s resident-participation renewable energy profit-sharing system. Large solar projects can generate local opposition when residents receive few tangible benefits, making the profit-sharing structure a central element in securing community acceptance.

The Shinan model, however, may be difficult to reproduce in every region. Large renewable energy projects require several conditions, including government approval, resident consent and access to transmission infrastructure.

Project profitability and local acceptance must also be considered to maintain a stable dividend system.

“The Sunlight Pension was designed to ensure that development profits remain with residents and circulate within the community,” the county official said. “We plan to expand the profit-sharing program beyond solar power to offshore wind and other renewable energy projects.”

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260615010005065

June 15 (UPI) — The Korean Federation of Community Credit Cooperatives, or KFCC, said Monday that it will provide AI-powered companion robots to elderly residents as South Korea faces the social challenges posed by rapid population aging.

The nationwide cooperative federation noted that a total of 200 robots will be supplied to senior citizens living alone, with the aim of dealing with social isolation.

The robots are designed to offer various support functions, including interactive conversations, medication reminders, and motion-detection capabilities. When emergencies arise, they can alert authorities and connect users with relevant services, according to KFCC.

Information collected by the robots can be shared with caregivers and social welfare workers to help track their health status and identify potential signs of social isolation, the cooperative said.

“The problem of social isolation among elderly people living alone is becoming more severe amid population aging and the growing number of single-person households,” KFCC said in a statement.

“We will continue our social contribution activities to help build warm and inclusive communities where no neighbor is left behind,” it added.

South Korea is one of the fastest-aging societies in the world. Data from the Ministry of the Interior and Safety show that people aged 65 and older accounted for 21.21% of the population as of the end of last year. When the proportion surpasses the 20% mark, a country is classified as as uper-aged society.

Single-person households represented 36.1% of all households in the nation as of the end of 2024.

KFCC is not a publicly listed company.

Seoul court sentences former leader for sending military drones into North Korea.

South Korea’s ex-President Yoon Suk Yeol has been sentenced to 30 years in prison for sending military drones into North Korea, a move prosecutors argued was aimed at creating a pretext for his disastrous martial law declaration in 2024.

The drone flights, which Pyongyang said included the dropping of propaganda leaflets, triggered a spike in military tensions between the nations in October 2024.

Special prosecutors, who had sought a 30-year prison term for Yoon, said in April that the ex-leader’s effort to “fabricate wartime conditions” with the drones had undermined state security.

Yoon was “given 30 years in jail” for the charges involving the drones, a spokesperson for the Seoul Central District Court told the AFP news agency on Friday, without giving further details.

Yoon had denied wrongdoing.

The ruling adds to a series of judgements against the ousted conservative leader, once South Korea’s top prosecutor, whose martial law order plunged Asia’s fourth-largest economy into its deepest political turmoil in decades.

In February, a South Korean court sentenced Yoon to life in prison after finding him guilty of leading an insurrection linked to the martial law attempt.

He was removed from office last year after the Constitutional Court upheld his impeachment, triggering a snap election that was won by liberal President Lee Jae Myung.

Yoon’s lawyers said he neither ordered nor later approved the drone operation, which they said was unrelated to martial law and instead a response to months of North Korean launches across the border of balloons stuffed with rubbish.

Yoon, who is already in custody, can appeal Friday’s lower court ruling.

Drone flights remain a flashpoint in tensions between the two Koreas, which remain technically at war.

Lee expressed regret earlier this year after an investigation found government officials had sent drones into the nuclear-armed North Korea in January.

North Korean leader Kim Jong Un’s powerful sister called Lee’s statement “wise behaviour”, but hopes for a rapprochement faded after the diplomatically isolated nation returned to calling South Korea its “most hostile” enemy.

North Korea has released photos of Kim Jong Un inspecting huge munitions at a weapons factory ahead of Chinese president Xi Jinping’s visit. Pyongyang has ordered missile production capacity to be doubled in the next five years.

South Korea is using AI-powered companion dolls to help tackle loneliness in its ageing population. The robots remind seniors to take medication, monitor wellbeing and call for help in emergencies. As AI expands, concerns remain over whether it can ever replace human connection.

The central bank on Thursday raised its economic growth forecast for South Korea to 2.6 percent for 2026 amid solid exports driven by a semiconductor super cycle.

The revision by the Bank of Korea (BOK) represents a 0.6 percentage-point increase from its previous forecast of 2 percent issued in February.

It is the largest upside revision since May 2021, when the BOK raised its growth projection by 1 percentage point from 3 percent to 4 percent.

For 2027, the central bank estimated its growth outlook at 2.1 percent.

The South Korean economy grew 1.7 percent in the first quarter, marking the sharpest quarterly growth in 5 1/2 years.

The revised outlook broadly aligned with forecasts from other institutions.

The International Monetary Fund (IMF) projected growth of 1.9 percent this year, while the Asian Development Bank (ADB) projected 1.9 percent growth.

The Korea Development Institute (KDI) earlier improved its growth forecast to 2.5 percent for 2026 from 1.9 percent.

The BOK also revised up its inflation prediction to 2.7 percent from 2.2 percent, citing higher international oil prices in the aftermath of the U.S.-Iran war.

For 2027, consumer prices are estimated to rise 2.3 percent, according to the BOK.

“The Korean economy is projected to expand by 2.6 percent this year, well above the February forecast of 2 percent, driven by robust semiconductor exports, while government measures, including the supplementary budget, partially offset the Middle East-driven supply shock,” the BOK said in a release.

BOK Gov. Shin Hyun-song said in a press conference that strong exports will likely contribute 0.7 percentage point to the country’s growth this year, alongside the 0.2 percentage point gains generated by the government’s fiscal support and the 0.1 percentage-point increase brought on by the local stock market rally. On the other hand, the ongoing U.S.-Iran war will drag down the economy by 0.4 percentage point, he added.

“Based on our analysis, we concluded that if the situation in the Middle East is resolved early, this year’s growth rate could exceed 2.6 percent,” he said. “We do not think the growth is a short-lived trend.”

The central bank presented an optimistic scenario in which semiconductor-driven exports gain further momentum, raising its growth forecast by 0.5 percentage point for 2026 and 0.3 percentage point for 2027.

Under a pessimistic scenario, however, a possible slowdown in artificial intelligence investments would lower economic growth by 0.3 percentage point this year and 0.2 percentage point next year, the central bank said.

In line with the upbeat outlook, the BOK kept the key interest rate unchanged at 2.5 percent but signaled a possible rate hike in the second half.

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SEOUL, May 18 (UPI) — North Korean leader Kim Jong Un convened a meeting with commanding officers from across the country’s armed forces and called for strengthening frontline defenses along the border with South Korea to create an “impregnable fortress,” state-run media reported Monday.

Kim held the meeting at the headquarters of the ruling Workers’ Party Central Committee on Sunday, the official Korean Central News Agency said. It was the first known gathering of all division and brigade commanders since Kim took power in 2011.

Kim called for the “rapid modernization of the military and technical equipment of our army” and stressed the need to adapt military training to the changing nature of modern warfare, KCNA said.

He emphasized the country’s “territorial defense” policy, including “strengthening the first-line units in the southern border and turning the border line into an impregnable fortress,” according to the report.

KCNA said Kim outlined plans to reorganize the military structure and bolster frontline and other major units with upgraded weapons and technology as part of efforts to strengthen deterrence.

Earlier this month, North Korea announced plans to deploy new 155 mm self-propelled howitzers to three battalions assigned to long-range artillery units along the southern border this year.

The meeting comes as Pyongyang hardens its military posture toward Seoul and formally abandons decades-old reunification language.

North Korea recently revised its constitution to remove all references to reunification with South Korea, cementing Kim’s push to redefine inter-Korean ties as relations between two separate states.

The two Koreas remain technically at war because the 1950-53 Korean War ended in an armistice rather than a peace treaty.

South Korea’s Unification Ministry assessed Monday that the meeting appeared aimed at encouraging the military while reinforcing ideological discipline and modernization efforts.

“North Korea has adopted a two-state stance, and there appear to be trends in that regard,” ministry spokesman Yoon Min-ho said at a regular press briefing. “We will continue to closely monitor related trends in the future.”

Asked whether the North’s latest moves could escalate the situation along the border, Yoon said Seoul would continue efforts to reduce military tensions and build trust on the Korean Peninsula.

South Korean President Lee Jae Myung has sought to reduce tensions since taking office in June, including by dismantling border propaganda loudspeakers and calling for renewed dialogue, but Pyongyang has largely ignored the overtures while continuing to expand its military capabilities.

On Monday, the Unification Ministry released its annual white paper, which defined Seoul’s new “Korean Peninsula peaceful coexistence policy.”

The policy is based on principles President Lee outlined in August, including respecting North Korea’s system, rejecting unification by absorption and avoiding hostile acts.

CANNES, France — The movies of Na Hong-jin aren’t hard to love — they’re as obsession-worthy as the stylish rigor with which they are made. His 2008 debut, “The Chaser,” found new febrility in the post-Fincher serial killer thriller. “The Wailing” somehow added ghosts, demon-possessed children and inky black crows to the mix with a near-crazed sense of showmanship.

That was 10 years ago. Na, 51, now sits on the other side of a project that has consumed him for years, a sci-fi action film called “Hope” that arrives with expensive CGI, a pair of A-list stars (Michael Fassbender and Oscar-winner Alicia Vikander) and James Cameron-sized franchise ambitions. It will undoubtedly make Na’s gallows-humor-inflected brand more global, even if it lifts him out of the cult niche that’s nourished him to date.

Cannes is an unlikely place to launch “Hope.” That could be seen as a sign that the festival’s increasing accommodation of blockbuster bigness doesn’t need Hollywood. Na sits in the corner of a Côte d’Azur waterfront lounge on a glorious midday, the sky an almost abstract blue. He tugs at his goatee distractedly. His world premiere is tonight.

Neon, the distributor currently enjoying a six-year Palme d’Or winning streak, will release “Hope” in America sometime after its summer bow in Na’s native South Korea. The following conversation has been edited for length and clarity. It also contains significant spoilers.

A scene from the movie “Hope,” directed by Na Hong-jin.

(Neon)

When did you realize that you had a big sci-fi alien monster movie in you?

The idea came to me in 2017 in Seoul. The premise started off with somebody watching news in a diner or a small restaurant. It was that image that I had in my head. So I started developing that initial image in more detail. By 2018, I was able to write my first draft.

“Hope” brings to mind several genre classics, from “Jaws” and John Carpenter movies like “The Thing,” to something more homegrown such as Bong Joon Ho’s “The Host.” Were those inspiring to you?

I must have looked all the genre films that I could find, including the ones you mention, before I went into filming. And, as I hope you noticed, I was looking more at films from before 2000 and I tried to reflect that look.

It seems like you’re using Cannes as a moment to pivot or reinvent yourself. Is that intentional?

I didn’t intend for this to be a turning point in terms of style or direction going forward. I never thought of it that way. What I really dwelled on was thinking about how to tell this story in a way that was approachable and entertaining for people.

Why did you set the story in the demilitarized zone?

If you look at it from a universal perspective, what happens in this very shabby, humble, small, insignificant space potentially creates an impact that can go on infinitely. I think none of the characters in the film do anything with any malice. I guess the underlying story I want to tell is that there is no reason for evil intention behind anything, but innocent acts can build up to something tragic.

Michael Fassbender and Alicia Vikander are wonderful surprises in the movie as some rather dignified aliens. What led you to them?

When I was casting the alien roles, I had a bigger story in mind. I don’t know whether there’ll be a sequel after this one, but if so, that sequel is going to be centered around them. So picking the right actors was very important for me. We asked them to learn this invented alien language, which they prepared and came onto set knowing.

How important to you is comedy and releasing tension with laughs?

Very. I try to really think it through and if it comes out the way I intended, that gives me such a thrill. I tried to incorporate it in many places.

A lot of the movie feels like a virtuoso chase sequence, people barreling down the road, guns blazing. But it took me a minute to realize that the more interesting question is: Who’s doing the chasing? Is “Hope” meant to make us examine our own violence?

Yes, very much so. And two of the major chase scenes were designed so that what starts off as righteous somehow tilts toward being unjust. I wanted the action to bring up that transition in perspective.

You’ve premiered at Cannes before but, in a way, it feels like the wrong festival for a movie like this. You’re laughing because I think you agree with me.

It goes without saying. I’m incredibly nervous. And I feel so grateful that you’re treating me so nicely and gently.

A scene from the movie “Hope,” directed by Na Hong-jin.

(Neon)

Why did it take you 10 years to make this film?

There was a pandemic in the middle of that. But except for the pandemic where everything stopped, I was working my ass off before and after. It still took this long. I’m a little concerned myself, like: How did this happen?

With “Hope,” are you saying goodbye to the filmmaker you once were?

Not at all. Throughout the entire process of making this film, I was bloodthirsty. I was thirsting for blood. I have another script written already.

And maybe now it’ll go faster because there won’t be a pandemic. Are you hoping that this movie is going to have an impact on the Korean film industry?

It’s not my place to say that. I’m not sure. I want things to be freer.

Would it be a mistake to read this film as an allegory for what’s happening now in the world? Is it a plea for understanding?

I don’t regard it as a plea for understanding. Rather, let’s hope people will be able to relate to it and be empathetic about the story and realize for themselves, understand for themselves. Maybe there’s something more to it, but you take away what you will from that.

Your dark humor flares on occasion. Did you make it a point to try to preserve that?

Well, you can’t just do something like this without having that. It’s not fun.

This doesn’t feel like an “Avatar”-style film. There’s an openness to it, a sense of exploration. Do you believe in heroes?

I do believe in heroes, but, as I tell in the story, anyone can be a hero.

May 4 (Asia Today) — Seoul accounted for more than 80% of first-priority apartment subscription applications in South Korea in March, according to an analysis by real estate platform Zigbang.

Zigbang said Monday that 109,928 first-priority applications were filed nationwide for apartment complexes announced for sale in March. Of those, 90,322, or 82%, were submitted for apartments in Seoul.

The figures were calculated based on the month of the sales announcement. Zigbang said applications were counted according to the date of the initial resident recruitment notice, even when the actual application period extended into the following month.

The increase was sharp compared with earlier months. Complexes announced in January received 10,549 applications and those in February drew 27,313. The number surged past 100,000 in March.

The number of apartment complexes offered also rose from eight in January and 11 in February to 27 in March. The average competition rate climbed from 4.2-to-1 in January to 7.1-to-1 in February and 12.9-to-1 in March.

Analysts said pent-up demand concentrated in March as major Seoul complexes entered the market after limited supply early in the year.

In Seoul, the average competition rate for complexes announced in March reached 156.3-to-1, sharply higher than in January and February. Every complex posted double-digit competition, driven in part by limited general sale units in redevelopment and reconstruction projects.

Major complexes included Acro de Seocho in Seocho District, which recorded a 1,099-to-1 competition rate, Hauterre Banpo in Seocho District at 710-to-1 and Ichon LE-EL in Yongsan District at 135-to-1.

“The recent subscription market continues to show high competition centered on Seoul, but it is difficult to interpret this simply as a divide between the capital region and provincial areas,” a Zigbang official said. “Consumers are clearly moving selectively based on price competitiveness and location rather than region alone.”

The official added that complexes with a strong balance of location, product quality and sale price can continue to attract real demand regardless of region.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260504010000342

Seoul – Shekinah Yawra had no other option but to spend the night at a South Korean jjimjilbang, a 24-hour bathhouse, after every hotel near central Seoul sold out in late March.

But sleep was secondary for the 32-year-old Filipino who had made her way to Seoul’s Gwanghwamun Square at 7am to secure a spot in a crowd that city officials estimated would grow to hundreds of thousands.

All this was for a glimpse at the seven-member K-pop supergroup BTS, who returned to the stage on March 21 after almost four years away from the limelight for their staggered, mandatory military service.

Though she failed to secure one of 22,000 free tickets for BTS’s first return concert in the square, Yawra was still ecstatic to stand on the sidelines and watch the concert live on a big screen set up for the occasion.

“We all came just for this,” she told Al Jazeera, recounting how friends had flown in from the Philippines for a single night to catch the concert.

Worldwide, more than 18.4 million viewers tuned in for the Netflix livestream of the concert.

With an estimated 30 million fans worldwide – who refer to themselves as the BTS ARMY – the K-pop group is the most visible symbol of “Hallyu”, or the “Korean Wave”, and the global surge of interest in South Korean popular culture and the financial revenues being generated as a result.

In late March, BTS’s 10th studio album, Arirang, topped the charts in the United States, Japan and the United Kingdom, the world’s three largest music markets. The group’s upcoming world tour is expected to generate more than $1.4bn in revenue across more than 80 shows in 23 countries.

Domestically, inbound tourist numbers for the first 18 days of March rose 32.7 percent from the previous month, according to Ministry of Justice data, as the return concert approached and hotel prices surged across central Seoul amid the demand for rooms.

In the week leading up to the concert, sales of BTS merchandise – from BTS glow sticks to blankets – surged 430 percent at the Shinsegae Duty Free retail outlet in central Seoul, the company said.

Over the concert weekend, revenues also rose 30 percent at the city’s Lotte Department Store and 48 percent at Shinsegae overall, compared with the same March weekend a year earlier, in 2025.

As far back as 2022, the Korea Culture and Tourism Institute (KCTI) – a government-sponsored think tank and research organisation – estimated that a single BTS concert in Seoul could generate up to 1.2 trillion won ($798m) in overall economic impact.

KCTI researcher Yang Ji-hoon told Al Jazeera that a sample study of the crowd at the BTS comeback event at Gwanghwamun Square highlighted the uniqueness of fandom-driven tourism. More than half of those at the concert were foreign visitors and many required long-haul travel to attend.

“In Europe and the United States, travel tends to be concentrated within its own regions,” Yang said.

“So, for people to overcome such travel barriers and come to South Korea, it usually requires more than just ordinary motivation or typical spending – it’s not something that happens easily,” he said.

K-pop’s transition to the global mainstream

The scale of BTS’s return to the entertainment world reflects a broader state-backed strategy.

When music promoter Hybe requested Seoul city support for the Gwanghwamun square comeback concert, authorities approved it on public-interest grounds, treating the event as a showcase of national cultural influence.

Almost befitting an official event, more than 10,000 state personnel were deployed for security, logistics and crowd control.

According to data retrieved by South Korean publication Sisain, through a public information disclosure request to the Seoul government, close to 130 million won ($87,400) of city funds were spent as part of logistics for the comeback concert.

South Korean government support for BTS has a precedent.

As members of the boyband approached South Korea’s mandatory military service age, policymakers debated special exemptions for members of BTS, which was estimated to have generated $4.65bn annually to the country’s economy.

After BTS’s forthcoming concerts in Mexico City sold out in just 37 minutes, Mexican President Claudia Sheinbaum urged South Korea’s President Lee Jae Myung to “bring the acclaimed K-pop artists more often”, noting nearly one million fans in Mexico had attempted to secure 150,000 tickets.

South Korea’s cultural influence is also extending beyond music.

South Korea’s cosmetics exports surpassed $11bn last year, according to global accountancy firm PricewaterhouseCoopers (PwC), overtaking France in cosmetics shipments to the US, while South Korean food and agricultural exports reached a record $13.6bn, according to data from the Ministry of Agriculture, Food and Rural Affairs.

KCTI researcher Yang described the growing interest as a phase of “transition to the global mainstream”, where South Korean products are internationally recognised and content output is measured against worldwide benchmarks such as the Billboard charts and the Academy Awards.

He also warned that structural reform is now essential to keep pace with the wave of interest in South Korea.

“As the industries expand in scale, they must also evolve in its underlying systems, infrastructure, and workforce,” he said.

“Rather than focusing solely on direct financial support, future governmental policies should move toward strengthening foundational conditions – such as improving labour environments, addressing unfair practices, building relevant infrastructure, and establishing more robust statistical and data systems,” he said.

Politicians appear to be paying attention.

During his election campaign last year, President Lee framed the next phase of cultural expansion as “Hallyu (Korean Wave) 4.0”, with promises to grow the sector into a 300 trillion won ($203bn) industry with 50 trillion won ($34bn) in exports.

In line with this vision, the government set the budget to bolster “K-content”, support the “pure” arts sector and strengthen the overall culture-related fields at a record 9.6 trillion won ($6.5bn) — reflecting the president’s view of the cultural sector as a strategic national industry rather than merely a consumer market.

South Korea’s strategy appears to be paying off.

South Korea now ranks 11th globally in “soft power”, according to Brand Finance’s Global Soft Power Index, placing the country as both “influential in arts and entertainment” and “products and brands the world loves”, just behind the US, France, the United Kingdom and Japan.

The darker side of K-pop: Pressure to become a perfect idol

Amid its global success, the darker side of the K-culture industry has received more scrutiny.

Mega-promoter Hybe has been embroiled in a prolonged dispute with K-pop’s New Jeans, a band considered to be a potential heir to BTS and their all-female colleagues Blackpink. The highly public legal dispute that started in 2024 highlights industry tensions over creative control and artist autonomy.

Since the early 2000s, K-pop has also grappled with the legacy of “slave contracts”, or highly restrictive agreements limiting artists’ freedom. Although reforms by the Fair Trade Commission have improved protections for performers, contractual obligations in the K-pop industry are exacting on new performers and their strict work routines have long been documented.

From their trainee years, aspiring idols endure gruelling schedules that involve long workdays and little sleep.

Many top stars often face contractual restrictions on socialising, using their phones or dating. They are also typically limited in what they can say publicly, relying on agency-managed messaging to communicate with fans and the media.

While the rise of social media and other online platforms has opened new avenues for more direct expression and interaction in recent years, concerns over burnout and depression have continued to shadow the industry, with several high-profile stars taking their own lives.

Beauty standards associated with the K-culture genre have also become another flashpoint for controversy.

A 2024 report by South Korean economy news site Uppity found 98 percent of 1,283 respondents born between 1980 and 2000 viewed physical appearance as among the most desirable “social capital” an individual can possess.

Nearly 40 percent of respondents in the survey had undergone cosmetic procedures, while more than 90 percent held neutral or positive attitudes regarding undergoing medical procedures to enhance beauty.

According to the International Society of Aesthetic Plastic Surgery, South Korea has the world’s highest rate of procedures, with 8.9 per 1,000 people compared with 5.91 per 1,000 people in the US and just 2.13 per 1,000 in neighbouring Japan.

Yoo Seung-chul, a professor of media studies at Ewha Womans University in Seoul, said that K-culture has reinforced the normalising of beauty as a significant metric of personal and social value.

“K-culture has reinforced systems and structures around self-expression,” Yoo told Al Jazeera.

“With the rise of webtoons that incorporate themes like plastic surgery, there has been a noticeable reduction in the stigma towards going under the knife among younger audiences in their teens and early twenties,” Yoo said, explaining that popular plastic surgery platforms such as Unni have further normalised the trend by connecting people to clinics and reviews of these clinics and their surgeons.

At the same time, globalisation has reshaped the K-culture industry itself. Many new K-pop acts now include international members to broaden appeal.

Hybe has expanded this strategy through its US subsidiary, Hybe America, producing globally oriented groups like Katseye, which only has one South Korean member in its six-member girl group.

The shift has prompted debate.

Even BTS’s latest album Arirang – a nod to South Korea’s most iconic folk song – has divided fans over its use of English lyrics and foreign producers.

“K-content is being designed with global audiences in mind from the outset. In film, there has been a noticeable rise in genres like horror and science fiction, which are easier to export internationally,” Yoo said.

“This global orientation is also reflected in K-pop agencies recruiting foreign members for idol groups,” he said.

But international audiences do not always prefer highly globalised versions of Korean content, Yoo said, adding, in fact, that many are drawn to K-pop’s “sense of locality”.

As audiences increasingly seek authenticity, Yoo argues the industry faces a defining challenge.

“Industries and companies need to figure out how to preserve a sense of local identity while effectively marketing to global audiences,” Yoo added.

“Striking that balance will be crucial in shaping the next phase of Korea’s cultural exports.”

April 24 (Asia Today) — South Korean President Lee Jae-myung on Friday criticized an award-winning newspaper report on the Daejang-dong development scandal as a “tremendous fabrication” and called for the award to be canceled and the article corrected.

Lee made the remarks in a post on X after sharing an article about the Korean Newspaper Association giving the 2023 Korean Newspaper Award to the report.

“Would it not be proper, even now, to cancel and return the award, apologize and correct the report?” Lee wrote.

Lee said the award committee had cited the article for uncovering “powerful facts” in its coverage of the Daejang-dong issue.

“In reality, it was not fact-finding but a tremendous fabrication,” Lee said.

Lee accused the report of creating a link to him that he said did not exist in the Daejang-dong recordings.

“By reporting that ‘that person’ in the Daejang-dong recordings was Lee Jae-myung, even though that was not in the recordings, they caused the Democratic Party’s presidential candidate to lose the election and changed the history of the Republic of Korea,” Lee said.

Lee said the country had regressed as a result and that the public continued to suffer from the consequences.

“History must never again be changed by presidential election manipulation carried out by powerful institutions and the media,” Lee said.

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260424010007824