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South Korean food conglomerate, Harim affiliate deals top $938 million

Harim Group’s internal affiliate transactions reached high levels in 2025, with Charm Trading recording about $211.6 million in internal transactions and some unlisted affiliates depending on group transactions for more than 80% of sales. Data from Financial Supervisory Service. Graphic by Asia Today and translated by UPI

June 3 (Asia Today) — Harim Group’s domestic transactions among affiliates exceeded 1.4 trillion won, or about $914 million, last year, raising concerns that some unlisted units remain heavily dependent on business from within the group.

An analysis of Financial Supervisory Service filings and affiliate transaction data showed Harim Group’s domestic internal transactions totaled 1.44 trillion won, or about $938 million, in 2025.

That accounted for about 11.5% of the group’s total revenue of 12.41 trillion won, or about $8.11 billion.

Harim Group has a vertically integrated business structure spanning feed production, livestock, food processing, distribution and logistics. The structure has drawn attention because several unlisted affiliates reported high levels of sales from transactions with other group companies.

Sunjin Hanmaeul, an agricultural company involved in pig farming, generated 229.2 billion won, or about $150 million, of its 256.6 billion won, or about $168 million, in total revenue last year through transactions with affiliates including Harim Holdings and Sunjin. That means 89.3% of its sales came from internal group transactions. Sunjin Hanmaeul is a sub-subsidiary of Harim Holdings.

Korea Thumb Vet, an animal pharmaceutical affiliate, also generated 94.8 billion won, or about $62 million, of its 130.1 billion won, or about $85 million, in total revenue from affiliate transactions. The company is also a sub-subsidiary of Harim Holdings.

Charm Trading, a Harim Holdings subsidiary responsible for grain procurement and trading, posted 323.9 billion won, or about $212 million, in internal transactions out of 534.5 billion won, or about $349 million, in total revenue last year. That was the largest amount among the group’s affiliate transactions.

Sunjin, a core affiliate in the feed and processed meat businesses, recorded 118.138 billion won, or about $77 million, in sales through affiliate transactions. Sunjin also owns an 89.4% stake in Sunjin Hanmaeul, whose internal transaction dependence reached 89.3%.

Other unlisted affiliates also showed high dependence on internal transactions. Sunjin Ham, a processed meat manufacturer, posted an internal transaction ratio of 99.9%. Farmsco Bio Inti, a livestock production affiliate, recorded 85.8%, while ship management company POS SM reported 85.4% and manufacturing and services affiliate Donglim posted 80.2%.

Harim Group was sanctioned by the Fair Trade Commission in 2021 over allegations that affiliates steered business to Orpum, a private company wholly owned by Kim Jun-young, the eldest son of Harim Chairman Kim Hong-kuk and an assistant managing director at Pan Ocean.

At the time, the commission said affiliate support provided unfair economic benefits to the owner family and imposed corrective orders and fines. Harim challenged the decision and the case is currently in administrative litigation.

The continued transaction structure involving major affiliates such as Charm Trading, Sunjin Hanmaeul and Korea Thumb Vet has drawn attention because it appears to have changed little since the commission’s sanctions.

Harim Group’s succession structure is widely seen as centered on Kim Jun-young. Through Orpum and Korea Investment, Kim has secured influence within the ownership structure of Harim Holdings, and key affiliates are also included under that structure.

Some level of internal transactions may be inevitable in a vertically integrated industry. But critics say it is a separate issue when some unlisted affiliates continue to depend on internal group transactions for 60% to nearly 100% of their revenue, especially as regulators strengthen oversight of tunneling and unfair support involving owner families.

The Fair Trade Commission says it does not determine illegality based only on the share of internal transactions.

“Internal transactions become a problem when illegal conduct such as unfair business steering or private benefit-taking is involved,” a commission official said. “If unfair support or private benefit-taking is found, the transaction can be subject to sanctions under relevant laws.”

— 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=20260604010001065

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South Korean banks face $716 million in long-overdue loans

South Korea’s five major banks saw long-term delinquent loans rise to about $716.7 million in 2026, while loans overdue for one month to less than one year remained elevated at about $3.84 billion. Data from Korea Federation of Banks and Korea Federation of Bank Research. Graphic by Asia Today and translated by UPI

June 3 (Asia Today) — South Korea’s major commercial banks are facing growing pressure from a sharp rise in long-overdue loans, with the amount of loans unpaid for more than one year exceeding 1 trillion won, or about $716 million, in the first quarter.

Loans overdue for less than one year, which could later worsen into long-term delinquencies, also approached 6 trillion won, or about $3.84 billion. The increase suggests that borrower distress is deepening, especially among corporate borrowers, despite banks’ efforts to dispose of nonperforming loans.

The sequential expiration of COVID-19 loan maturity extensions also appears to be adding pressure on delinquent borrowers.

Banks, which have continued to post strong earnings, are concerned that rising long-term delinquencies could increase loan-loss provision burdens. The longer a loan remains overdue and the lower its chance of recovery becomes, the more banks must set aside in provisions.

If the Bank of Korea raises its base rate in the second half, borrowers’ repayment burdens could grow further, increasing the risk of additional long-term delinquencies. Analysts say asset quality management could become a key factor determining banks’ earnings performance.

According to financial industry data released Wednesday, the combined balance of loans overdue for at least one year at KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank and NH NongHyup Bank reached 1.0972 trillion won, or about $716 million, in the first quarter.

That was up 49.3% from 734.9 billion won, or about $480 million, a year earlier. Compared with 261 billion won, or about $170 million, in 2024, the figure has more than quadrupled. It was also more than double the 508 billion won, or about $332 million, recorded in 2022 during the COVID-19 pandemic.

The increase appeared across all five banks. By bank, NH NongHyup had the largest balance of long-term overdue loans at 474.8 billion won, or about $310 million, followed by KB Kookmin at 166.9 billion won, or about $109 million, Hana at 155.2 billion won, or about $101 million, Shinhan at 151.5 billion won, or about $99 million, and Woori at 148.8 billion won, or about $97 million.

Loans overdue for at least one month but less than one year totaled 5.8851 trillion won, or about $3.84 billion, approaching the 6 trillion won mark. The figure was slightly lower than 6.1002 trillion won, or about $3.98 billion, a year earlier, but remained high by historical standards.

By category, loans overdue for at least one month but less than three months rose from a year earlier to 2.8225 trillion won, or about $1.84 billion. Loans overdue for at least six months but less than one year, which are considered more likely to become long-term delinquencies, reached 1.1111 trillion won, or about $726 million. Both were record highs since the banks began disclosing the relevant data.

The surge in long-term delinquencies is widely attributed to a sharp increase in new overdue loans in 2024 and 2025. Higher interest rates and weak domestic demand weakened borrowers’ repayment capacity, with some distressed borrowers slipping into long-term delinquency.

The increase appears particularly concentrated among corporate borrowers, whose loans are relatively large and harder to recover. At the end of March, the banking sector’s corporate loan delinquency rate stood at 0.68%, up 0.06 percentage point from 0.62% a year earlier.

“Distress pressure has continued for a long period in sectors such as construction and real estate leasing because of the weak housing market,” an official at a commercial bank said.

A renewed period of rate increases could add to the problem. The Bank of Korea left open the possibility of at least one base rate increase in the second half during last month’s monetary policy meeting, raising concerns that banks could face greater asset quality pressure.

Higher base rates can push up market rates, including bank bond yields, increasing borrowers’ interest burdens. That could deepen distress among loans already in arrears and increase new delinquencies, potentially expanding the volume of long-term overdue loans later.

That would likely translate into higher loan-loss provisions for banks. Banks classify loans into five asset-quality categories: normal, precautionary, substandard, doubtful and estimated loss.

When a loan is classified as substandard, banks must set aside provisions equal to 20% of the loan amount. As the overdue period grows longer and repayment capacity worsens, the required provision ratio rises. Doubtful loans, which are overdue for more than three months and have low recovery prospects, require 50% provisioning. Loans classified as estimated losses after more than one year overdue require 100% provisioning.

That means if a doubtful loan deteriorates into an estimated loss, the provisioning burden doubles.

A rise in provision expenses would directly weigh on bank earnings. In 2022, the five major banks set aside 3.5422 trillion won, or about $2.31 billion, in annual loan-loss provisions, while their combined net profit rose 18.6% from a year earlier to 13.7472 trillion won, or about $8.98 billion.

But in 2023, when banks set aside more than 6 trillion won, or about $3.92 billion, in provisions because of real estate project financing distress and other factors, their net profit growth slowed to 2.6%.

Provision expenses fell sharply the following year, but as delinquencies continue to rise, the possibility of renewed growth in provisions has increased. Analysts say careful risk management has become more important.

“As the delinquency period lengthens, the sale price of nonperforming loans tends to fall, so if long-term delinquencies increase, banks disposing of bad loans will also face greater loss burdens,” a financial industry official said.

“The key will be whether banks can prevent new distress from expanding while effectively clearing existing bad loans,” the official said.

— 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=20260604010001073

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Women’s World Cup qualifying: Wales diverted as weather hits trip to Montenegro

Wales’ preparations for Friday’s Women’s World Cup qualifier in Montenegro have been badly disrupted after the team flight was forced to divert to Italy due to bad weather.

Rhian Wilkinson’s squad took off from Cardiff at 16:30 BST on Wednesday and had been due to arrive in Montenegro around three hours later.

However, they were unable to land in Podgorica due to electrical storms around the Montenegrin capital and eventually diverted to the Italian port city of Brindisi.

After more than three hours on the tarmac in southern Italy, during which Wales had hoped weather conditions would ease, the decision was taken to stay in Brindisi on Wednesday night.

That left Football Association of Wales (FAW) officials scrambling to secure hotel rooms for the travelling party, as well as trying to arrange travel plans for Thursday.

“Due to storms in Podgorica, the Cymru women’s national team flight was diverted this evening, landing safely in Brindisi airport in south Italy,” the FAW said on social media.

“The team will stay overnight in Italy and will arrange alternative travel to Montenegro ahead of Friday evening’s match.”

Wales take on Montenegro in Podgorica in their penultimate Group B1 fixture at 17:00 BST on Friday.

They then host Czech Republic, their rivals to finish top of the group, in their final fixture in Cardiff on Tuesday.

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People Power Party protests ballot shortage at Seoul polling stations

People Power Party campaign committee chief Jang Dong-hyeok attends a central campaign committee meeting at the National Assembly in Seoul on Wednesday, the day of South Korea’s local elections and parliamentary by-elections. Photo by Asia Today

June 3 (Asia Today) — The People Power Party protested Wednesday after voting was temporarily halted at some polling stations in Seoul’s Songpa Ward because of ballot shortages, calling the incident “a serious violation of voters’ political rights.”

Chung Hee-yong, the party’s secretary-general, held an emergency news conference and criticized the National Election Commission over the incident.

“This is a shocking incident that should not and must not happen at a polling site in South Korea in 2026,” Chung said. “It goes beyond simple lack of election preparation and reflects a deplorable failure to fulfill the duty of election management.”

Chung called for “strong and immediate action” by the election commission.

“First, swift measures must be taken so that citizens who could not vote because of ballot shortages can exercise their voting rights,” he said.

Song Eon-seog, the party’s floor leader, also issued an emergency statement.

“We are receiving absurd reports that citizens in Seoul cannot vote because ballots are unavailable,” Song said. “Seoul citizens, you must not give up voting under any circumstances. Even if it is difficult, please wait calmly and make sure to vote.”

Song said the situation infringed on citizens’ right to participate in elections.

“We strongly urge the National Election Commission to guarantee voting rights so that citizens who waited can vote even after 6 p.m.,” he said. “Transfer the ballots quickly.”

Song also said the party had received reports that voting was taking place at several polling stations nationwide without People Power Party observers present.

“Is this the 19th century? Does this make any sense?” he said. “As soon as the election ends, we will immediately push for a fact-finding investigation into this incident and make sure those responsible are held accountable.”

Bae Hyun-jin, chairwoman of the People Power Party’s Seoul chapter, also held an emergency news conference.

“A shortage of ballots in an election is not a simple mistake. It proves that the basic election management system, the foundation of democracy, has completely collapsed,” Bae said.

She criticized the election commission for saying the shortages resulted from a sudden increase in voter turnout.

“The commission responded as if it were nothing serious,” Bae said. “We will continue to demand measures to prevent a recurrence and disciplinary action against those responsible for the election management failure that violated the sovereign act of Seoul citizens.”

The People Power Party said it had identified eight polling stations affected by ballot shortages: Munjeong 2-dong No. 2, Jamsil 2-dong No. 6, Jamsil 7-dong No. 2, Jamsil 4-dong No. 5, Garak 2-dong Nos. 3 and 7, Cheongdam-dong No. 4 and Guui 3-dong No. 6 in Gwangjin Ward.

— 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=20260603010001076

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Bolivian president pushes state of emergency law as 2 ministers resign

Members of the Bolivian police in riot gear deploy tear gas during an operation to regain control of the seized Humberto Suarez Roca plant and oil field, in the municipality of Santa Rosa del Sara, Bolivia, on Wednesday. Hundreds of demonstrators stormed the plant a day earlier, forcing operations to halt and blockading the facility to demand President Rodrigo Paz’s resignation. Photo by Juan Carlos/EPA

June 3 (UPI) — Bolivian President Rodrigo Paz sent a bill to Parliament on Wednesday to regulate states of emergency, while two ministers resigned amid a crisis that has entered its fifth week of road blockades.

The crisis, which began in early May with protests over fuel shortages, rising living costs and opposition to economic measures promoted by the government, has left at least five people dead and caused economic losses that exceed $1.6 billion.

Since the inception, more than 100 roadblocks have disrupted the transportation of goods, food and medical supplies, and fuel distribution in different parts of the country.

“This law regulating states of emergency in the nation has already been sent to Parliament, and I hope it will be resolved soon,” Paz said during a public statement.

Paz said the initiative would provide a legal framework for actions the government plans to implement to ensure assistance to the population and distribution of essential supplies.

Bolivia’s Constitution provides for a state of emergency in extraordinary situations that affect the country’s security or normal functioning. However, the newspaper La Razón reported the government considers it necessary to have a specific law establishing procedures, scope and implementation mechanisms for that constitutional tool.

Paz added that any action taken by the police, armed forces and government would be guided by a “logic of humanitarian action” and defended dialogue as the path to resolving the crisis.

“We come from the real, democratic and constitutional culture of dialogue,” he said.

The announcement came the same day defense and education ministers submitted resignations, becoming the most significant cabinet departures since the protests began, according to reports from Bolivian media outlets.

Their departures follow the resignation of Labor Minister Edgar Morales less than two weeks ago.

The resignations represent a new political blow to Paz, who took office six months ago and is facing a growing humanitarian crisis.

The protests, led by labor unions, Indigenous organizations, teachers and groups aligned with former President Evo Morales, have expanded their demands, and some groups have begun to call for the president’s resignation.

According to reports by El País and Infobae based on data from Bolivian authorities and business organizations, the Federation of Private Business Entities of Bolivia warned that the road blockades continue to affect productive sectors, exporters and transport operators, while agricultural producers have warned of growing difficulties in moving goods and guaranteeing domestic supply.

The Legislative Assembly must now debate the proposal on states of emergency as protests continue and pressure mounts on the executive branch to solve the crisis.

The government maintains that road blockades are intended to destabilize the constitutional order, while protesters say the demonstrations are a response to deteriorating economic conditions and shortages that affect much of the country.



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Artist suing FIFA over destruction of Dallas whale mural before World Cup

The artist who painted a giant mural on a building in downtown Dallas of life-sized swimming whales has filed a $25 million lawsuit against soccer’s international governing body and others, saying they illegally painted over his work to promote the city’s upcoming World Cup matches.

The artist Wyland says he hand-painted the sprawling mural that covered roughly 17,000 square feet across two of the building’s walls.

The mural stood for nearly three decades before workers began painting over it last month, causing an uproar among residents who admired the mural’s grand scale and message of ocean conservation.

The area’s World Cup organizing committee said in a statement that, in place of Wyland’s mural, new artwork is planned “that captures this current historical moment and reflects the energy, unity, and global spirit surrounding the World Cup 2026.” It said a portion of Wyland’s mural would be preserved.

Wyland filed suit Monday in U.S District Court in Dallas saying that World Cup organizers, along with the building’s owner and management company, painted over his mural without his consent or even notifying him. He says their actions violated a 1990 federal law passed to protect visual artists from destruction of publicly displayed works.

Wyland is seeking at least $25 million in damages. His lawsuit says world soccer’s governing body, FIFA, and other defendants “hastily and irrevocably destroyed a civic landmark” to promote the World Cup.

“Though FIFA claims they were working to develop art for the host city, in truth, they defaced an historic fixture of the host city,” the artist’s lawsuit says.

A FIFA spokesperson said Tuesday the federation “has no involvement in this whatsoever” and referred a reporter to the tournament’s local organizing committee.

A spokesperson for the North Texas FWC Organizing Committee declined to comment. The committee isn’t named as a defendant in the lawsuit.

A spokesperson for Slate Asset Management, which manages the building where the mural was painted over, said in a statement that local World Cup organizers asked Slate in March to donate the mural space for “a new public art installation.”

“Slate is not being compensated in any way for the use of the wall space and was told by the local groups that Mr. Wyland had been notified,” the management company’s spokesperson said in an email.

Dallas is hosting more World Cup matches than any of the other sites in the event co-hosted by the U.S., Canada and Mexico, with nine matches set to be played at AT&T Stadium in suburban Arlington, home of the Dallas Cowboys.

Wyland’s Dallas mural, titled “Whaling Wall 82,” was finished in 1999 and is among more than 100 similar murals known as Whaling Walls the artist painted around the world to promote the conservation of ocean life.

An online petition protesting the mural’s destruction and calling for protecting of public artwork in Dallas has received more than 2,600 signatures.

Wyland’s lawsuit alleges violations of the Visual Artists Rights Act, a 1990 federal law that protects artwork of “recognized stature” even if someone else owns the physical artwork.

A judge cited that law in 2018 when he ordered a property owner to pay a group of New York graffiti artists $6.7 million for whitewashing dozens of their spray-painted murals on buildings that once housed a factory in Queens. The ruling was upheld on appeal.

Bynum writes for the Associated Press. Bynum reported from Savannah, Ga.

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Meliá exits 15 Cuba hotels ahead of U.S. deadline

Tourism in Cuba has all but disappeared, as hotels close and airlines cancel routes because of fuel shortages. Photo by Ernesto Mastrascusa/EPA

June 3 (UPI) — Spanish hotel operator Meliá Hotels International said Wednesday it will stop managing 15 hotels linked to Cuba’s military-run conglomerate GAESA, expanding the withdrawal of foreign operators from the island just days before new U.S. sanctions take effect.

The decision makes Meliá the fourth international hotel company to reduce or end operations in Cuba in less than a week, following the departures announced by Blue Diamond, Iberostar and Archipelago International under its Aston brand.

Meliá informed Spain’s National Securities Market Commission that its Portuguese subsidiary, Ilha Bela, will immediately terminate management, marketing and brand-use services at hotels associated with entities controlled by GAESA, according to Forbes España.

The company said the economic impact will be limited because many of the affected properties already were closed or only partially open.

In February, the Spanish hotel chain confirmed the temporary closure of several properties due to fuel shortages, transportation problems affecting workers and a sustained decline in tourism demand, CiberCuba reported.

At that time, the company operated 35 hotels on the island and said it was not considering leaving the Cuban market.

The latest move comes two days before the deadline set by President Donald Trump‘s administration for foreign companies to sever commercial ties with Cuba’s military conglomerate or face potential economic sanctions.

GAESA controls a significant portion of the Cuban economy and dominates large segments of the tourism sector through companies such as Gaviota Tourism Group.

On Tuesday, Archipelago International withdrew from several hotels operated under the Aston brand for Gaviota, including properties in Havana, Varadero and Cuba’s northern cays.

Days earlier, Canada’s Blue Diamond announced the end of its operations on the island, while Spain’s Iberostar stopped managing 12 hotels linked to GAESA assets.

None of the companies officially attributed their departure to the U.S. measures.

The withdrawals coincide with a deep crisis in Cuba’s tourism sector. According to data cited by IndexBox, Cuba received 328,608 international visitors between January and April 2026, a 55.8% decline from the same period a year earlier.

The deterioration is also affecting air transportation, as at least 11 airlines have suspended or reduced flights to Cuba this year.

The withdrawal of Meliá and Iberostar has also raised concerns in Spain.

Jaume Bauzà, tourism, culture and sports minister for the Balearic Islands regional government, said Wednesday that authorities are closely monitoring the situation facing the two Mallorca-based companies and offered institutional support.

“We will look after them. This is a commercial matter, but if we can help in any way, we will do so,” Bauzà said, according to Forbes España.

He said he hopes the situation can be resolved “as quickly as possible” for the companies and the Cuban population.

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The Ebola outbreak the world isn’t paying attention to | News

A deadly Ebola outbreak in the DRC is spreading across borders, with no approved vaccine or treatment for this strain.

A fast-growing Ebola outbreak in the Democratic Republic of the Congo has crossed borders, raising alarms far beyond Central Africa. This time, the virus is a strain with no approved vaccine or treatment. As cases rise and governments scramble to respond, can the outbreak be contained before it spreads further?

In this episode: 

  • Catherine Soi (@cate_soi), Al Jazeera Correspondent

Episode credits:

This episode was produced by Marcos Bartolomé and Sarí el-Khalili with Spencer Cline, Tamara Khandaker, Jana Dabliz, and our host, Malika Bilal. It was edited by Tamara Khandaker. 

Our sound designer is Alex Roldan. Rick Rush mixed this episode. Our video editors are Hisham Abu Salah and Mohannad al-Melhem. Alexandra Locke is The Take’s executive producer. 

Connect with us:

@AJEPodcasts on X, Instagram, Facebook, and YouTube



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The White House as a stage: Trump’s hosting streak meets America’s 250th birthday and the World Cup

When nearly all the scheduled musical performers pulled out of a concert series marking America’s 250th anniversary — fearing the event had become too closely tied to President Trump — he responded by making it official.

Trump announced he’d now be the headlining act of the Great American State Fair.

That put to rest any possible scenario where a president who has built his personal and political persona on seizing the spotlight might cede the stage to avoid overshadowing a national celebration bigger than himself. It also offered a peek into how the president is likely to approach hosting the upcoming World Cup.

From his reality shows before becoming a politician, to hours spent entertaining at events in ways planned and impromptu, to proudly showing off his various properties and efforts to overhaul the White House, the president relishes hosting. Last year he even jokingly mused about leaving the presidency to do it again full time on TV.

Trump can be a gracious, personable and highly watchable master of ceremonies — but he’s also one who tends to make every event about himself.

“The president has an outsized personality,” said Timothy Naftali, former director of Richard Nixon’s presidential library and professor at Columbia University’s School of International and Public Affairs. “There’s a predictability to the way in which the president frames his actions — or any actions around any event associated with him — and that’s just part of who he is, and his makeup and his professional background.”

Exhibit A is the fair, which begins June 25 and was supposed to feature concerts but now will be kicked off by a Trump rally. That will follow a UFC bout at the White House on June 14. Trump is a longtime cage match fan and the event marks his 80th birthday, but the president has sought to bill it as part of the anniversary festivities.

Many presidents relished hosting — but not like this

Andrew Jackson threw open the White House for an 1829 Inauguration Day bash so unruly that staff eventually dispersed the crowd by moving tubs of whiskey and ice cream to the lawn. Franklin D. Roosevelt mixed pre-dinner cocktails for friends and aides at White House gatherings he playfully dubbed “The Children’s Hour.” Audrey Hepburn was among the luminaries Ronald Reagan hosted at the White House.

Trump frequently had first-term dinners with business leaders but has more fully embraced the role since returning to the White House. He built a patio area similar to one at his Mar-a-Lago estate and frequently travels to Florida and his properties in Bedminster, New Jersey, and Sterling, Virginia, to headline fundraisers and other swanky gatherings.

Asked if Trump might overshadow events meant to bring the country and the world together, White House spokesman Davis Ingle pointed to the president’s efforts to lead extensive renovations at the White House and around Washington. He said in a statement that the “historic beautification” gives the city “the glory it deserves during our nation’s historic semiquincentennial celebration — something everyone should celebrate.”

Still, Trump has found unprecedented ways to inject himself into the anniversary.

The State Department is issuing passports with the president’s picture and officials have designed a new $250 bill with his likeness. The Trump Organization, being run by Trump’s children while he’s president, applied to trademark “Trump 250” logos and other merchandise.

The U.S. Mint is also producing a 24-karat gold commemorative coin with Trump’s face, though that recalls a half-dollar silver coin bearing the likeness of President Calvin Coolidge to help mark America’s 150th anniversary in 1926.

Past presidents had starring anniversary roles

Ulysses S. Grant opened a Centennial Exposition in Philadelphia to mark the 100th anniversary of the signing of the Declaration of Independence in 1876. Richard Nixon, in 1971, inaugurated a five-year “Bicentennial Era” ahead of the 200-year mark, though he resigned before the big day arrived.

Nixon’s successor, Gerald Ford, then in the midst of an ultimately unsuccessful reelection campaign, began the week of July 4, 1976, by inaugurating the Smithsonian Institution’s National Air and Space Museum and attending a Kennedy Center event featuring Bob Hope, OJ Simpson and others reading patriotic texts.

On Independence Day, Ford spoke at historic Valley Forge, then traveled to Philadelphia’s Independence Hall, declaring, “Liberty is a living flame to be fed, not dead ashes to be revered.“ He also went to New York Harbor for a tall ship parade, presided over naturalization ceremonies at Thomas Jefferson’s Monticello estate and hosted a state dinner for Britain’s Queen Elizabeth II.

Still, “while Ford certainly hoped to use the bicentennial to promote his reelection campaign, he didn’t do it in such a self-aggrandizing, self-centered, narcissistic way,” said Marc Stein, a history professor at San Francisco State University and author of “Bicentennial: A Revolutionary History of the 1970s.”

Ford, added Naftali, “knew when to step out of the limelight and make sure the focus was on what mattered, which was the United States of America and the Declaration of Independence.”

Trump, by contrast, “generally has contempt for norms” and rarely mentions “the great sweep of history,” Naftali said.

Dueling anniversary planners as Trump pushes to revise history

Congress charged a national organization, America250, with planning commemorative events. Ahead of the 2024 election, the group drafted a memo asking whomever the incoming president was to mobilize federal agencies and welcoming presidential involvement in events and initiatives.

Asked about Trump, America250 Chair Rosie Rios said the group “has had a very supportive and collaborative relationship with the organizations planning initiatives on behalf of the president.”

But Rios’ organization is separate from Freedom 250, a mix of public and private partnerships which the Trump administration established to fund and prepare anniversary events — which has caused confusion.

America250 aims to “inspire our fellow Americans to reflect on our past, strengthen our love of country, and renew our commitment to the ideals of democracy through programs that educate, engage, and unite us as a nation.”

That might seem a departure from the “Restoring Truth and Sanity to American History” executive order Trump signed last year. It sought to beat back a “revisionist movement” responsible for “replacing objective facts with a distorted narrative driven by ideology rather than truth.”

Stein, now serving a one-year term as president of the Organization of American Historians, is helping organize “We Want More History,” a push to coordinate local events celebrating the public’s love for the subject in fact-based ways.

He said Trump’s version of history is “closer to propaganda, and it’s closer to cheerleading.”

World Cup gives Trump another platform to play host

The president has similarly taken his exceeding-normal-limits approach to the soccer tournament the U.S. is co-hosting with Mexico and Canada.

He created a federal World Cup task force, and leads it. He collected a peace prize from soccer’s governing body, FIFA, and said he’d be on stage to present the tournament’s golden trophy to the winning team.

Trump even oversaw the tournament’s draw at the Kennedy Center, which he’s sought to rename for himself, sparking legal challenges.

He returned to the same building to headline December’s Kennedy Center Honors, noting, “We never had a president hosting the awards before.” He later posted on social media, “Would you like me to leave the Presidency in order to make ‘hosting’ a full time job?”

Naftali noted, “Whatever filters there were in the first term — and there weren’t many — are gone.”

“It’s undiluted Donald Trump.”

Weissert writes for the Associated Press.

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Iranian strikes shut Kuwait Airport as U.S.-Iran fighting intensifies

All flights in and out of Kuwait Airport were suspended until further notice Wednesday after it was hit by Iranian missiles and drones, injuring several people and causing extensive damage amid an escalation in the U.S.-Iran war after the flared up again at the weekend. File photo by Stringer/EPA

June 3 (UPI) — Kuwait closed its main airport in Kuwait City on Wednesday after Iranian missile and drone strikes injured several people and caused “significant damage” to its main terminal building as renewed hostilities between the Iran and the United States escalated.

The airport activated its emergency plan, suspending all flights indefinitely after its Terminal 1 building was the target of “Iranian aggression, resulting in significant damage to several airport facilities, in addition to recording human injuries,” the Directorate General of Civil Aviation said in an update on X.

DGCA spokesman Abdullah Al-Rajhi said it has been decided to suspend air traffic and divert flights to alternative airports until further notice pending the completion of repair work to enable the airport to resume operations, saying that inspection and comprehensive assessment by technical and specialized teams was already underway.

Kuwait International Airport only fully reopened on Monday after being closed on and off since the start of the war on Feb. 28.

The attack came hours after Iran and the United States and Iran exchanged fire across the region Tuesday with Iranian forces attacking its Gulf neighbors and the American military striking a vessel attempting to evade its naval blockade and launching “self-defense” strikes on Iran’s Qeshm Island.

The airport was hit in the early hours, shortly after U.S. Central Command said a series of Iranian missiles and drones directed at its regional neighbors had either failed to reach their targets or been repelled by U.S. forces, including two Iranian missiles fired at Kuwait that “fell short or broke apart enroute,” and three others launched at Bahrain that were intercepted by U.S. and Bahrain air defense forces.

CENTCOM said later that an additional wave of Iranian drones targeting U.S. forces in Kuwait was downed by air defenses with no American personnel or assets harmed and dismissed as fake Islamic Revolutionary Guard Corps claims they struck U.S. 5th Fleet headquarters in Bahrain and a U.S. air base in the region with missiles and drones.

No U.S. personnel were harmed. CENTCOM forces remain vigilant and ready to defend against unwarranted Iranian aggression during the ongoing ceasefire.

Moments earlier, U.S. Central Command (CENTCOM) forces shot down three one-way attack drones launched by Iran toward civilian mariners that were rightfully transiting regional waters. American forces also conducted self-defense strikes on an Iranian military ground control station on Qeshm Island.

The American military also downed three attack drones launched by Iran toward civilian mariners that CENTCOM said were sailing legitimately in regional waters and struck on an Iranian military ground control station on Qeshm Island.

“No U.S. personnel were harmed. CENTCOM forces remain vigilant and ready to defend against unwarranted Iranian aggression during the ongoing cease-fire,” it said.

CENTCOM also released footage of a U.S. warplane firing a Hellcat missile at an empty Iran-bound oil tanker in the Strait of Hormuz that it said ignored warnings to stop.

“U.S. Central Command enforced blockade measures against Botswana-flagged M/T Lexie as it transited international waters toward Kharg Island. The ship’s crew ignored repeated warnings, failing to comply with directions from U.S. forces multiple times over a 24-hour period. A U.S. aircraft ultimately disabled the vessel by firing a Hellfire missile into the ship’s engine room, preventing the tanker from reaching Iran,” CENTCOM said.

Wreathes are seen amongst the statues at the Korean War Veterans Memorial during Memorial Day weekend in Washington on May 27, 2023. Memorial Day, which honors U.S. military personnel who died while in service, is held on the last Monday of May. Photo by Bonnie Cash/UPI | License Photo

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Morocco World Cup 2026 preview: Players to watch, group and squad list | World Cup 2026 News

Previous World Cup appearances: 6
Best performance: Fourth place (2022)
First appearance: 1970 (Mexico)
Top goal scorer: Youssef En-Nesyri (3)
Most appearances: Achraf Hakimi, Hakim Ziyech (10)
Player to watch: Brahim Diaz
FIFA world ranking: 8

The FIFA World Cup begins on June 11. You can follow the action on Al Jazeera’s dedicated World Cup 2026 page with all the latest news, match build-up and live text commentary, and keep up to date with group standings, real-time match results and schedules.

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Four years ago, the Morocco made history by becoming the first African and Arab team to reach the World Cup semifinals in Qatar, eliminating Spain and Portugal along the way, before narrowly losing to France.

They come into the 2026 edition again boasting a strong squad and hoping to replicate – or go even further – than their sensational 2022 run.

However, the Atlas Lions also find themselves in rather more chaotic circumstances this time around with a managerial departure less than three months out from the tournament, and bruised by a wild Africa Cup of Nations (AFCON) final that provoked a diplomatic row with Senegal.

AFCON hangover

The squad is still dealing with the fallout from one of the most incendiary episodes in African football history.

January’s final in Rabat descended into chaos when Senegal’s players walked off the pitch in protest after Morocco were awarded a contentious stoppage-time penalty following a VAR review with the game at 0-0.

The decision to award the spot kick sparked trouble among the Senegal fans in the crowd. Eighteen spectators were were later jailed following the disruption.

After Senegal finally returned to the pitch after a lengthy delay, Real Madrid and Morocco star Brahim Diaz missed the penalty with a poor attempt at a panenka. Senegal went on to win the game 1-0 with a goal in extra-time.

However, the saga did not end there. In March, CAF stripped Senegal of the title and awarded it to Morocco, ruling that Senegal had forfeited the game by leaving the pitch.

Senegal have appealed at the Court of Arbitration for Sport (CAS), and have made allegations against CAF and Morocco.

For the Atlas Lions, being belatedly crowned champions by officials has done little to ease the pain as well as a sense of injustice, and the ongoing saga continues to leave a toxic fallout for the team.

The Regragui saga

Walid Regragui, the coach who masterminded the 2022 run, parted ways with the team in March.

It is likely that he ultimately paid the price after the manner of Morocco’s narrow defeat to Senegal in the AFCON final on home soil, as well as reported arguments between him and the country’s football federation over the direction of the team.

His replacement, Mohamed Ouahbi, led Morocco’s Under-20 side to the 2025 Youth World Cup title as the federation said a “strategic decision” was behind the appointment.

“It’s a desire not to waste time and to take a different direction,” a source close to the federation told the AFP news agency.

But for Ouahbi, 49, stepping up to a first senior World Cup under such acrimonious circumstances is an extremely challenging task – especially as he has only ever managed youth teams in his career.

“I’m not here to build, because the foundations are already in place. I’m here to keep performing,” Ouahbi said after his appointment.

Whether the new coach has the authority and tactical acuity to thrive at the highest level remains to be seen, and it will be a bit of a baptism of fire.

INTERACTIVE-Football FIFA How teams are group World Cup 2026-1776670778

Brahim Diaz hopes to shake off panenka nightmare

Up until that penalty miss, talented forward Brahim Diaz had been the best player at the tournament, driving Morocco to the final as he won the Golden Boot with five goals.

The Real Madrid playmaker is quick, clever and capable of producing something out of nothing – giving Morocco a touch of genuine magic between the lines.

He may be carrying a psychological weight into this tournament after the AFCON final fracas, but Morocco will hope he will channel that frustration into having an outstanding World Cup.

Teenage star Bouaddi makes the cut

While much of the squad is fairly well established, the exciting 18-year-old Lille midfielder Ayyoub Bouaddi, who has switched allegiances after representing France at junior level, made the squad.

“A dream come true, but above all the start of a new chapter, with even more work, rigour and responsibilities,” Bouaddi said on X.

“I am aware of the privilege I have to defend ‌these colours, and I will give everything to represent my country in the best possible way.

“A thought also for France. My choice in no way diminishes the pride and gratitude for having been able to wear that jersey in my youth.”

Perhaps surprisingly, Youssef En-Nesyri, who scored the winning goal against Portugal in the 2022 quarterfinal, did not make the cut.

Elsewhere, Bilal El Khannouss is a highly technical and creative attacking midfielder, while Sofyan Amrabat gives the side combative energy in defence.

Marseille defender Nayef Aguerd has been selected, despite not playing since March due to injury.

Red Star's Tomas Haendel , right, and Lille's Ayyoub Bouaddi fight for the ball suring the second leg of the Europa League playoff soccer match between Red Star and Lille in Belgrade, Serbia, Thursday, Feb. 26, 2026. (AP Photo/Darko Vojinovic)
Bouaddi, left, in action with Red Star Belgrade’s Tomas Haendel in a Europa League playoff in February [Darko Vojinovic/AP Photo]

Hakimi: The world’s best right back?

Last season, the PSG right back scored 11 goals and provided 14 assists en route to helping his club win a historic treble of the Champions League, Ligue 1 and the French Cup – he was subsequently named CAF African Player of the Year.

This season has been less productive so far in terms of goals and assists. Hakimi increasingly attracts intense attention from opponents keen to neutralise his threat. His season has also been overshadowed by issues off the pitch as it was announced earlier this year that he will stand trial for rape in France – allegations which Hakimi denies.

Despite the off-field issues and reduced returns this season, his overlapping runs, delivery and goalscoring threat – on top of his defensive prowess – arguably means he remains the best right back in the world.

How does Morocco’s group look?

Group C certainly has its challenges for Morocco, not least in their opening game against Brazil. While the Brazilians no longer quite hold the fear factor of previous tournaments, they are still packed with quality.

Nevertheless, Morocco will fancy their chances of getting something from that game and sending a statement to their rivals.

Easier ties await after that, and although an improving Scotland are no pushovers and Haiti could provide an unknown quantity, Morocco should be winning both of those games if they are to mount a serious push for the title.

Morocco also faced Brazil and Scotland in the France 1998 World Cup. The Atlas Lions put in a respectable performance then – recording a 3-0 win over Scotland while losing by the same score to Brazil and drawing with Norway – but finished third in the group and failed to progress to the round of 16.

Morocco’s group matches at the World Cup

⚽ June 13: Brazil vs Morocco (New Jersey, US), 6pm ET (22:00 GMT).
⚽ June 19: Scotland vs Morocco (Boston, US), 6pm ET (22:00 GMT).
⚽ June 24: Morocco vs Haiti (Atlanta, Georgia), 6pm ET (22:00 GMT).

Al Jazeera’s prediction

Last 16.

An inexperienced coach and turmoil around the squad will probably lead them to fall short of matching their 2022 exploits.

Morocco’s World Cup squad

Goalkeepers: Yassine Bounou (Al Hilal), Munir Mohamedi (RS Berkane), Ahmed Tagnaouti (Royal Armed Forces).

Defenders: Noussair Mazraoui (Manchester United), Anass Salah-Eddine (PSV Eindhoven), Youssef Belammari (Al Ahly), ‌Nayef Aguerd (Marseille), Chadi Riad (Crystal Palace), Issa Diop (West Ham United), Redouane Halhal (KV Mechelen), Achraf Hakimi (Paris St-Germain), Zakaria El Ouahdi (Genk).

Midfielders: Samir El Mourabet (Strasbourg), Ayyoub Bouaddi (Lille), Neil El Aynaoui (Roma), Sofyan Amrabat (Real Betis), Azzedine Ounahi (Girona), Bilal El Khannouss (Stuttgart), Ismael ‌Saibari (PSV ‌Eindhoven).

Forwards: Abdessamad Ezzalzouli (Real Betis), Chemsdine Talbi (Sunderland), Soufiane Rahimi (Al Ain), Ayoub El Kaabi (Olympiacos), Brahim Diaz (Real Madrid), Yassine Gessime (Strasbourg), Ayoub Amaimouni-Echghouyabe (Eintracht Frankfurt).

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U.S. crude exports hit record as Asia, Europe demand jumps

An aerial photo made with a drone shows gasses burning off near oil storage tanks and a drilling rig near Karnes City, Texas. Photo by TANNEN MAURY / EPA

June 2 (Asia Today) — U.S. crude oil exports reached a record high in May as demand from Asian and European refiners surged, market data showed.

U.S. crude exports averaged 5.6 million barrels per day in May, surpassing the previous record of 5.2 million barrels per day set in April, according to data from analytics firm Kpler.

The increase was driven in part by a widening price gap between West Texas Intermediate, the U.S. benchmark crude, and Brent crude, the global benchmark.

The spread between WTI and Brent widened to as much as $20.69 a barrel in March, the largest gap in 13 years. In April, the gap averaged $8.86 a barrel, wider than the prewar average of $4.85.

Supply disruptions in the Middle East caused by the war involving Iran also prompted refiners in Asia and Europe to seek more U.S. crude as an alternative.

Asia imported an average of 2.45 million barrels per day, making it the largest destination for U.S. crude for a second consecutive month.

Japan was the biggest Asian buyer, importing 808,000 barrels per day, up 32% from the previous month.

Europe ranked second, importing 2.4 million barrels per day.

Italy led European demand with imports of 335,000 barrels per day. Bulgaria, Croatia, Turkey and Greece also made rare purchases of U.S. crude, according to the data.

Industry analysts expect U.S. crude exports to decline from June. Consulting firm Energy Aspects projected exports would fall to an average of 4.9 million barrels per day in June and 4.6 million barrels per day in July.

Sources and analysts said declining WTI inventories in the United States are expected to encourage domestic storage and reduce export volumes.

— 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=20260602010000543

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Naver Cloud, Nvidia form AI factory alliance

NVIDIA CEO Jensen Huang delivers his keynote speech as part of the COMPUTEX 2026 AI exhibition in Taipei, Taiwan, 01 June 2026. Jensan Huang officially announced NVIDIA’s new products and various AI integration. Photo by RITCHIE B. TONGO / EPA

June 2 (Asia Today) — Naver Cloud is moving to expand its presence in the global artificial intelligence infrastructure market through a deeper partnership with Nvidia.

The company aims to combine its HyperCLOVA X large-scale AI model and sovereign AI capabilities with Nvidia’s AI infrastructure platform to become a key player in the era of AI factories.

Industry officials said Tuesday that Naver Cloud CEO Kim Yu-won attended the Nvidia Cloud Partner Summit in Taiwan and outlined the company’s strategic cooperation with Nvidia.

The partnership is drawing attention because it goes beyond a simple graphics processing unit supply arrangement and extends across infrastructure, AI models and services.

Nvidia CEO Jensen Huang introduced Naver Cloud as a major AI-native cloud partner in the global AI ecosystem during his keynote speech at GTC Taipei 2026 on Monday.

The two companies also plan to expand cooperation in large language models. Naver Cloud plans to use Nvidia’s open large language model technology, Nemotron 3 Ultra, to advance HyperCLOVA X. The companies also plan to jointly study model optimization and core technologies.

Cooperation will also continue in physical AI. In March, Naver Cloud unveiled the Seoul World Model, a digital recreation of Seoul built with Nvidia’s Cosmos physical AI platform.

The Seoul World Model was trained on South Korean map data and 1.2 million panoramic images collected across Seoul, allowing it to reproduce real road environments and spatial structures.

Naver Cloud plans to target the global AI market by emphasizing its full-stack capabilities, which combine its own AI models and cloud infrastructure. The company also plans to expand sovereign AI projects that protect national data sovereignty by working with governments and local companies.

Naver board chair Lee Hae-jin and Huang are expected to meet soon in South Korea and disclose specific plans for the AI factory project.

“The AI industry paradigm is shifting from models to inference-focused AI factories that can operate large-scale infrastructure reliably,” Kim said. “Our cooperation with Nvidia is not a simple supply relationship but a strategic decision to expand the global AI ecosystem together.”

— 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=20260602010000541

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South Korean small businesses seek labor consulting

Han Seong-sook, minister of SMEs and startups. Photo by Asia Today

June 2 (Asia Today) — South Korean small business owners called for more practical labor consulting and measures to ease payroll burdens during a government meeting Tuesday.

The Ministry of SMEs and Startups held a roundtable on labor difficulties facing small businesses at the Korea Certified Public Labor Attorneys Association in Yeongdeungpo-gu, Seoul.

Minister Han Seong-sook, government officials and representatives from convenience stores, restaurants and cafes attended the meeting to discuss labor management difficulties in the field.

Participants said complicated wage rules, including weekly holiday allowances and severance pay, have become a major management burden. They urged the government to provide professional consulting support.

At the meeting, the ministry announced support measures to help small businesses manage labor issues. The measures include a question-and-answer guidebook on commonly missed labor rules, regional on-site briefings and stronger online guidance through short-form videos.

The ministry also plans to help resolve disputes through counseling centers and labor lawyers. It said it will link a 24-hour artificial intelligence labor law counseling service with Small Business 24, a government support platform for small businesses.

Small business groups, however, expressed disappointment with the measures. They said expanding online and offline counseling channels could become a formality unless the government also secures enough budget and staffing to handle a surge in labor complaints.

They also said 24-hour AI counseling may have limits because labor disputes often involve complicated facts and competing interests that differ from case to case.

Participants emphasized that small businesses need more than basic information or counseling. They said the government should build a field-based consulting system and adopt policies that directly reduce labor cost pressures.

They said the government needs a bolder approach that goes beyond publicity-focused measures to address the core problems facing small businesses, including complex employment structures and allowance management.

“We will implement the measures announced today without disruption to create an environment where small business owners can run their businesses with confidence,” Han said.

The government said it will continue listening to difficulties in the field and review possible improvements to the system.

— 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=20260602010000499

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Messi trains alone as Argentina hold first World Cup practice | World Cup 2026 News

Messi works on ‘specific exercises’ as he recovers from muscle fatigue in his left hamstring before the World Cup.

Lionel ‌‌Messi has trained on his own ⁠⁠during Argentina’s first practice session at their base camp in the United States, where the squad has assembled this week for their World Cup preparations.

The defending ⁠⁠World Cup champions held their first pretournament training in Kansas City, Missouri, on Monday.

The ⁠⁠Inter Miami captain has been dealing with muscle fatigue in his left hamstring ⁠⁠since May 24 but is expected to be ready for Argentina’s opener against Algeria on June 16 in Kansas City.

Messi, ‌‌38, joined Argentina at their training base and worked on “specific exercises” along with several teammates who are also dealing with fitness concerns.

“The players who are suffering from ⁠⁠niggles and injuries continue ⁠⁠to work with the physiotherapy team on specific exercises on the pitch and are making good progress,” Argentina’s Football ⁠⁠Association said.

Argentina, ranked number three in the world, will play their final ⁠⁠tune-up match against Iceland on June 9 in Auburn, Alabama.

Messi, the two-time MLS MVP and eight-time Ballon ‌‌d’Or winner, is competing in his record sixth World Cup. The midfielder is Argentina’s ‌‌all-time ‌‌leader in caps (198) and goals (116) since making his debut with the national team in 2005.

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World Cup 2026: Who are favourites to win the Golden Boot?

No-one has won the World Cup Golden Boot more than once – but two men have a good chance to become the first to do so this summer.

Mbappe scored four goals in World Cup qualifying and as one of the strongest squads in the tournament, it is likely that 2022 finalists France will reach the latter stages of the competition.

Another striker seeking a historic second boot is Kane. At 32, he is as we know significantly older than the average winner – but with 54 goals for his club this season, Kane is no average player. If Thomas Tuchel’s side go deep into the tournament, Kane is surely certain to score his fair share.

Messi has claimed plenty of personal accolades in his career, but there is a Golden Boot-shaped gap next to the eight Ballon d’Or trophies in his cabinet. Aged 38, the 2026 tournament is his final chance.

At the other end of the age scale, Yamal will turn 19 the week before the final. Spain have not progressed beyond the round of 16 since their 2010 tournament win, but Luis de la Fuente’s men showed they have the mettle to go the distance at Euro 2024 and were impressive in qualifying.

Premier League Golden Boot winner Erling Haaland has scored 26 league goals for Manchester City this season but his bid for the boot might depend on how long Norway stay in the tournament. Haaland scored 16 goals in eight qualifying games.

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Nvidia CEO urges SK hynix to make more HBM chips

Nvidia CEO Jensen Huang, right, visits the SK hynix booth at Computex 2026 with SK Group Chairman Chey Tae-won on Tuesday. Photo courtesy of SK hynix

June 2 (Asia Today) — Nvidia CEO Jensen Huang visited the SK hynix booth at Computex 2026 in Taipei on Tuesday, meeting SK Group Chairman Chey Tae-won for a second straight day as the companies deepen their artificial intelligence partnership.

Huang, who met privately with Chey on Monday, examined SK hynix’s major memory products and wrote “Please Make More” on an HBM4E wafer displayed at the booth.

Chey also signaled that SK plans to expand production. He said the group aims to double wafer production capacity within five years as demand for memory chips is expected to surge.

Huang toured the booth with Chey and SK hynix executives. He signed the HBM4E wafer with the message “Please Make More” and wrote “LOVE SOCAMM” on a 192GB SOCAMM product.

SK hynix currently supplies Nvidia with its latest high-bandwidth memory, including sixth-generation HBM4, as well as high-performance low-power LPDDR5X memory. Huang said in his GTC Taipei keynote Monday that Nvidia will begin full-scale production of its next-generation AI accelerator, Vera Rubin, in the second half of this year.

As AI demand increases and memory supply shortages deepen, Chey said SK is moving quickly to expand production.

“The memory bottleneck is expected to continue until 2030,” Chey told reporters at the SK hynix booth. “We are pushing forward at full speed to expand production capacity.”

“Building new memory fabs requires enormous investment and takes at least three years,” he said. “Despite these challenges, we plan to double wafer production capacity over the next five years.”

It was the first time SK Group publicly presented a specific goal of doubling its overall production capacity within five years. SK hynix is making large-scale investments to strengthen production capacity, including projects at its M15X and P&T7 facilities in Cheongju, the Yongin semiconductor cluster and an advanced packaging plant in the United States.

— 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=20260602010000823

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South Korea inflation tops 3% on Middle East oil shock

Consumer prices in South Korea rose 3.1% in May from a year earlier, driven by sharp increases in petroleum products, international airfares and overseas group tour fees. Data from National Data Agency. Graphic by Asia Today and translated by UPI

June 2 (Asia Today) — South Korea’s consumer price growth topped 3% in May for the first time in 26 months as a prolonged Middle East war drove up global oil prices, raising concerns that high inflation could continue through the second half of the year.

The consumer price index stood at 119.92 in May, with 2020 set as the base year of 100, up 3.1% from a year earlier, according to consumer price data released Tuesday by the National Data Agency. It was the first increase of 3% or more since March 2024.

Industrial products rose 4.2% from a year earlier, while service prices increased 2.8%. Petroleum prices showed the sharpest increase, jumping 24.2%, the largest gain in three years and 10 months since July 2022, when the Russia-Ukraine war was at its height.

Gasoline prices rose 23.1%, diesel prices climbed 33.3% and kerosene prices increased 21.7%.

Among services, international airfares, which are directly affected by fuel costs, rose 33.5%, while overseas group tour fees increased 26.3%.

The living price index, which tracks frequently purchased items with a high share of household spending, rose 3.3% from a year earlier, showing a worsening burden felt by consumers.

Lee Doo-won, an official in charge of economic trend statistics at the data agency, said petroleum prices rose more sharply because of higher international oil prices caused by the Middle East war.

“International airfares and prices for travel and lodging-related items rose sharply as fuel surcharges linked to global oil prices increased and the number of peak-season days, including holidays, grew,” Lee said.

The government said it will work to reduce price uncertainty by stabilizing petroleum prices.

A Finance Ministry official said the government’s petroleum price cap and fuel tax cut reduced the May consumer price increase by 0.6 percentage point.

“We will make every effort to stabilize prices felt by households through petroleum price stabilization measures and a task force on livelihood prices,” the official said.

Experts said inflation led by higher global oil prices is likely to continue in the second half.

“Although the United States and Iran have announced plans to discuss reopening the Strait of Hormuz, the high oil price trend is likely to continue in the second half even if the war ends, given the destruction of local oil facilities,” said Jeong Se-eun, an economics professor at Chungnam National University.

“For South Korea, which imports all of its oil, oil prices affect overall inflation. There is also concern that abnormal weather forecast for this summer could raise agricultural prices,” Jeong said.

“With no notable downward factor in the second half, inflation is expected to stay around 3%,” she added.

Park Jin, a professor at the Korea Development Institute School of Public Policy and Management, said prices are determined by market supply and demand.

“On the supply side, there are inflation concerns caused by unstable oil prices. On the demand side, there are price-increase factors such as a strong domestic stock market,” Park said. “Preemptive steps, including consideration of an interest rate hike, are needed.”

— 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=20260602010000704

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Heather Knight: Never any doubt around her place in England’s World Cup side, says Charlotte Edwards

Charlotte Edwards says there was never any doubt around Heather Knight’s place in England’s World Cup side as the former captain returned to form in a series-clinching win in the third T20 against India.

Knight, 35, made a magnificent unbeaten 70 as England emphatically chased 181 to win the series 2-1, after she had endured a lean start to the summer.

In the five preceding T20s against New Zealand and India, Knight’s strike-rate had been the main cause for concern as she made scores of 19 (17), 25 (23), 18 (22), 21 (24) and 18 (14).

But under pressure in the series decider, Knight, who became England women’s most-capped cricketer last month, was at her fluent best with 10 fours in a 42-ball knock.

“It’s been quite interesting listening to some of the press this week,” head coach Edwards told BBC Sport.

“I think the more that people have been writing her off, the more I just knew she was going to put in a performance like this.

“I spoke to her after her record game [at Chelmsford] about her character and how that is one of her biggest attributes, and we saw that in abundance tonight.

“It was really lovely for her to have that performance going into the World Cup, but there were no doubts in our dressing room about Heather.”

Knight added 137 for the fourth wicket in a flawless stand with Alice Capsey, who made 81 off 43. The pair toyed with India’s wilting bowlers throughout, with Knight reverse-sweeping and scoring cannily behind square while Capsey struck beautifully straight down the ground.

It is easy to forget Capsey is still only 21 years old, having burst on to the English cricket scene as a teenager, and it was a knock that has surely cemented her place in Edwards’ starting XI for the World Cup opener against Sri Lanka on 12 June.

Edwards said it was the best she had seen Capsey play, and praised her work ethic over the winter.

“To play the way she did from that position [38-3], I couldn’t be prouder,” Edwards added.

“We spoke to her at the start of the winter about the areas we wanted her to work on and she has worked so, so hard. Now she’s bearing the fruits of that and there’s nothing more satisfying than to win a game of cricket for England in that manner.”

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Colombia’s Petro doubles down on election fraud allegations

Colombian President Gustavo Petro said he has evidence of software modifications that allegedly introduced hundreds of thousands of voter identification records that were not properly registered and altered voting tables. Photo by EPA

June 2 (UPI) — Colombian President Gustavo Petro reiterated allegations Tuesday of possible electoral fraud in the first round of the country’s presidential election, claiming irregularities in the voter registry and vote-counting systems ahead of the June 21 runoff.

In a message posted on X, Petro said he was presenting the “verified basis of possible fraud” and claimed he could submit evidence to the relevant authorities.

Petro said he has evidence of software modifications that allegedly introduced hundreds of thousands of voter identification records that were not properly registered and altered voting tables.

Petro contended that last-minute technical changes to systems operated by Colombia’s National Civil Registry, known as the Registraduria Nacional, resulted in irregularities, including an increase of 885,409 voter identification records in the electoral roll and the appearance of 1,493 additional voting tables that he claimed were not authorized.

He also alleged that the algorithms used in private software for preliminary vote counting and official tabulation were secretly modified three times during the final week of the campaign.

As a result, Petro said, he would only recognize the final official results certified by judicial authorities serving on Colombia’s electoral review commissions.

He said the alleged irregularities benefited far-right candidate Abelardo de la Espriella and harmed his preferred candidate, left-wing Sen. Ivan Cepeda.

After preliminary results showed De la Espriella leading with 43.74% of the vote and Cepeda in second place with 40.90%, Petro said he would not accept the preliminary count and pledged to present evidence to electoral authorities.

Before the election, several polls had projected Cepeda as the frontrunner, although analysts noted a rapid surge in support for De la Espriella during the final weeks of the campaign.

Petro intensified his criticism Tuesday, claiming electoral authorities were seeking to “close the vote count quickly” to avoid reviewing his allegations.

The National Civil Registry reported that the official count had reached 99.98% completion and said final results matched the preliminary count of 99.94%, rejecting claims of widespread manipulation.

According to Colombian media reports, Cepeda significantly softened his position Monday after initially supporting Petro’s concerns on election night.

The candidate of the Historic Pact coalition said that after an extensive review conducted by his monitoring team, no evidence was found of irregularities significant enough to call the legitimacy of the first-round results into question.

Voters will return to the polls June 21 to choose between two sharply different political visions.

De la Espriella, a political outsider associated with what supporters describe as a “new right,” has centered his campaign on public security and advocates a hardline approach to crime inspired by the policies of El Salvador’s President Nayib Bukele and Argentine President Javier Milei.

Cepeda, meanwhile, has campaigned on social justice and supports continuing and expanding Petro’s agrarian reform and energy transition agenda, while promoting negotiations with armed groups as part of a broader peace strategy.

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