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Korea seeks another crypto tax delay over gaps in overseas data and rules

The government will seek to postpone cryptocurrency income taxation by another two years to 2029, Finance Minister Lee Hyoung-il said Thursday, renewing debate over tax fairness and policy credibility after three previous postponements. Lee said more time is needed to secure overseas transaction data and refine the rules. But the reversal, just a month after the government reiterated its commitment to proceeding in January, has drawn criticism over policy predictability and possible political motivations. At a briefing, Lee said the government would work with the National Assembly to pursue the delay. The announcement came a day after ruling Democratic Party of Korea (DPK) Chairman Kim Min-seok formally requested another postponement. Under the legislation awaiting implementation, income from transferring or lending digital assets would be classified as miscellaneous income. Annual net profits above a 2.5 million won ($1,900) allowance would be taxed at 22 percent, including local income tax. Net profits would be calculated by deducting acquisition costs and related expenses from procee

3 MIN READ
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Interview'Coupang uses US lobbying to frame Korean sanctions as discrimination'

Coupang is using its lobbying network in Washington to portray Korea’s enforcement of domestic laws as discrimination against American businesses, according to a ruling party lawmaker, who said Seoul’s sanctions on the e-commerce firm are based on the firm’s obvious misconduct, not its nationality. "Claims that Korea is discriminating against an American company are not based on the facts, and they are a narrative created by Coupang's lobbying in the United States,” Rep. Min Byoung-dug from the ruling Democratic Party of Korea (DPK) told The Korea Times during an interview on Thursday. "We must distinguish the position of Washington from the voice Coupang has bought through lobbying." He argued that allegations of anti-U.S. bias distort Korea’s enforcement record and risk turning a domestic competition law dispute into a bilateral trade issue. The second-term lawmaker urged the government to stand firm on the principle that companies operating in Korea must be subject to the same legal standards, regardless of where they are headquartered or listed. His comments offer a contrast

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Most gov't agencies deny using VirusTotal, deepening questions over presidential data leak

Most government agencies told The Korea Times they do not use VirusTotal, the malware analysis platform where the personal information of the first couple was exposed for about five months, deepening questions over how the leak occurred. The paid platform had hosted sensitive personal information of 168 people aboard the presidential jet during President Lee Jae Myung’s trip to Europe in June. Those affected included not only the president and first lady but also high-ranking officials, including then-chief of staff for policy Kim Yong-beom, National Security Adviser Wi Sung-lac, current Prime Minister Han Seong-sook and several Cabinet members, as well as senior officials from Cheong Wa Dae and the Ministry of Foreign Affairs, security personnel and reporters traveling with the presidential delegation. VirusTotal, a web service owned by Google, scans uploaded files and URLs simultaneously using more than 70 antivirus engines and security tools. Files submitted through its public interface are shared with participating security vendors and can be accessed by organizations that subscri

2 MIN READ
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COVER STORY Seoul to send anti-piracy unit closer to Hormuz, add mine-clearing team

The government decided Thursday to expand the mission of its anti-piracy Cheonghae Unit closer to the Strait of Hormuz, extending its operating area from the Gulf of Aden to waters south of Oman and adding military assets to protect shipping routes. The move is sparking concerns that it could draw Korea into the war between Iran and the United States. The expansion proposal passed a vice ministerial meeting Thursday morning. After Cabinet and presidential approval, the motion will go to the National Assembly for final authorization. Under the proposal, the unit’s personnel ceiling would rise from 320 to 395, with the addition of a P-8 maritime patrol aircraft, an explosive ordnance disposal (EOD) team and unmanned mine-clearing equipment. The additional 75 personnel would include 45 assigned to the P-8 aircraft and 30 to the EOD team. The new equipment would include unmanned surface and underwater vehicles and remotely operated underwater robots. The revised mandate would also add support for restoring freedom of navigation along international shipping routes to the unit’s existing an

3 MIN READ
[COVER STORY] Seoul to send anti-piracy unit closer to Hormuz, add mine-clearing team thumbnail

US Midterms

Korea reassesses trade, security ties after Democrats sweep US Congress

Seoul is assessing the fallout from the Democrats’ sweeping victory in the U.S. midterm elections, Tuesday, preparing for possible changes in trade, security and nuclear cooperation while seeking to keep existing agreements with Washington on track. "The government will analyze changes in the U.S. political landscape following the midterm elections and continue to communicate and cooperate closely with the U.S. administration and Congress," presidential chief spokesperson Kang Yu-jung said during a press briefing, Thursday. She also said the government "does not expect the outcome of any particular election to affect the Korea-U.S. alliance," noting the alliance has developed over more than 70 years with bipartisan support in the U.S. A separate Cheong Wa Dae official said the presidential office "has been continuously reviewing how to respond to shifts in the balance of power in the U.S. Senate and House." “Given the complexities of Korea-U.S. relations, Cheong Wa Dae and relevant ministries are closely monitoring developments,” the official said. Presidential chief of staff Lim Kw

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Special counsel bill on alleged fabricated indictments introduced at plenary session

A bill calling for a special counsel probe into allegations of fabricated indictments targeting President Lee Jae Myung and others was brought before a plenary session of the National Assembly on Thursday. The bill was introduced by Assembly Speaker Cho Jeong-sik over objections from the main opposition People Power Party (PPP), setting the stage for a vote led by the ruling Democratic Party of Korea (DPK), which holds a majority in the Assembly. The PPP immediately launched a filibuster, but the DPK said it will end the tactic after 24 hours in accordance with relevant rules and put the bill to a vote Friday. The bill, which was first introduced by the DPK in April, calls for an independent counsel to investigate allegations the prosecution under former President Yoon Suk Yeol fabricated evidence or induced false testimonies to build cases against then opposition leader Lee and others. Under the bill's final version, the special prosecutor would be tasked with investigating the prosecution's indictments in 12 cases. Six of them involve the president, with the charges stemming from his ti

2 MIN READ
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Korea tightens corporate governance disclosure rules to strengthen shareholder protections

All companies listed on the benchmark KOSPI will face tougher disclosure requirements on boardroom changes and major corporate transactions under new rules designed to give shareholders greater oversight of corporate governance, financial authorities said Thursday. The changes, announced by the Financial Services Commission and the Korea Exchange, expand the information companies must provide in their annual corporate governance reports. The move comes after the reporting requirement was extended to all 826 KOSPI-listed companies this year. One focus is on preventing companies from circumventing the revised Commercial Act that is designed to give minority shareholders a greater say in board appointments. Under the law, listed companies with assets of at least 2 trillion won ($1.49 billion) must incorporate cumulative voting, which allows shareholders to pool their votes behind a particular director candidate, improving the chances of minority shareholders electing a representative to the board. Some companies, however, have sought to avoid the rule by shrinking their boards or changing d

2 MIN READ
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Seoul gears up to welcome 1 mil. pilgrims for 2027 World Youth Day

Up to 1 million people are expected to gather in Seoul for the closing mass of the 2027 World Youth Day (WYD), marking a historic moment as the global Catholic youth festival is held for the first time in a country where Christians do not hold a majority in the population. The WYD Seoul 2027 event, running from Aug. 3 to 8, 2027, will bring an estimated 400,000 international pilgrims from around 190 countries together with 100,000 domestic participants, the organizing committee said, Thursday. Sharing its detailed roadmap for the international event, Archbishop Peter Chung Soon-taick of the Archdiocese of Seoul emphasized the deeper meaning of the gathering, pointing to the isolation faced by younger generations in the digital age. "We live in an era of disconnection," Chung, who also serves as head of the organizing committee, said at Myeongdong Cathedral in central Seoul. "While we can reach each other instantly through the screens in our hands, it has become much harder to truly know one another. Young people today face constant comparison and competition, and even how we judge a pers

3 MIN READ
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Multicultural marriages in Korea edge down in 2025

The number of multicultural marriages in Korea edged down in 2025 from a year earlier, data showed Thursday, taking up 8.9 percent of all marriages. The country recorded 21,399 multicultural marriages last year, down 0.2 percent, or 51, from 21,450 in 2024, according to data from the Ministry of Data and Statistics. Marriages involving foreign wives accounted for 71.4 percent of multicultural marriages, followed by those with foreign husbands at 18.9 percent and those with naturalized citizens at 9.7 percent. The average age for first marriages was 37.1 years for husbands and 29.7 years for wives. Husbands were older than their wives in 75.2 percent of multicultural marriages. In 36.1 percent of all multicultural marriages, the husband was at least 10 years older than his wife. Vietnamese wives accounted for 25.3 percent of all multicultural marriages, followed by Chinese wives at 15.1 percent and Thai wives at 9.2 percent. The corresponding figures for husbands from the United States, China and Vietnam were 6.8 percent, 5.6 percent and 3.6 percent, respectively. Meanwhile, the number of di

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Hoban's Hanjin KAL stake gains $683 mil. amid speculation over battle for control

Hoban Group's stake in Hanjin KAL has gained an estimated 918.6 billion won ($683 million) in market value since the beginning of this week, as the construction group's emergence as the holding company's largest shareholder has fueled speculation over a potential battle for control. The valuation gain follows Wednesday's disclosure that Hoban and related parties held 13,814,053 common shares, or 20.69 percent of Hanjin KAL, narrowly overtaking Hanjin Group Chairman Cho Won-tae and his cohort, whose combined stake stood at 20.58 percent. Hanjin KAL shares closed at 123,900 won last Friday before climbing to 190,400 won Thursday, a gain of 66,500 won, or approximately 53.7 percent. Applying the increase to Hoban's disclosed shareholding translates into an estimated valuation gain of 918.6 billion won. At Thursday's closing price, its stake was worth approximately 2.63 trillion won, up from 1.71 trillion won at Friday's close. Investor interest intensified after reports emerged Monday that Hoban had filed a business combination notification with the Fair Trade Commission. Cho has separatel

2 MIN READ
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KT&G posts record Q3 earnings, unveils $3.7 bil. shareholder return plan

KT&G posted record quarterly revenue and operating profit in the third quarter, driven by growth across its core businesses, while unveiling a four-year shareholder return plan worth 5 trillion won ($3.7 billion). The tobacco and consumer goods company said Thursday that consolidated revenue rose 4.3 percent from a year earlier to 1.91 trillion won, while operating profit increased 13.9 percent to 530.1 billion won. Both figures marked quarterly records. Its cigarette business generated record revenue of 1.31 trillion won, up 6 percent, and operating profit of 425.5 billion won, up 14.4 percent. Its operating margin improved 2.4 percentage points to 32.6 percent. The global cigarette business marked its 10th consecutive quarter of growth in sales volume, revenue and operating profit. Its next-generation products (NGP) business maintained its leading market share in Korea while improving its product mix. KGC, KT&G's health functional foods subsidiary, reported revenue of 372.2 billion won, up 3.4 percent, and operating profit of 80.1 billion won, up 12.2 percent. At its Capital Markets Day

2 MIN READ
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From prince to emperor: Ju Ji-hoon's appearance in 'The Remarried Empress' sparks debate

Nearly 20 years after winning hearts as a young crown prince in the hit Korean drama "Princess Hours," actor Ju Ji-hoon has returned to a royal role in Disney+'s "The Remarried Empress." But his transformation into an emperor is drawing mixed reactions, with some viewers questioning his on-screen appearance and styling while others praise his commanding performance. "The Remarried Empress," which premiered on Disney+ on Nov. 3, is based on the popular Korean web novel and webtoon of the same name. The adaptation had attracted considerable attention from fans of the original story even before its release. Following the premiere, Ju's appearance as Sovieshu, the emperor of the Eastern Empire, quickly became a talking point among viewers. Some expressed disappointment with how his complexion appeared on screen, saying he looked unusually tired. Others said his face appeared noticeably duller and more sallow than those of his fellow cast members. However, an actor's appearance on screen can be influenced by makeup, lighting and color grading, making it inappropriate to draw conclusions about

2 MIN READ
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Samsung Display partners with 6 global brands to promote QD-OLED in China

Samsung Display is joining hands with six global monitor brands to promote its quantum dot organic light-emitting diode (QD-OLED) technology at internet cafes across China, seeking to expand its presence in the world's largest gaming market. The company said Thursday that it is working with AOC, ASUS, HKC, MSI, TitanArmy and ViewSonic to designate selected internet cafes, locally known as i-cafes, as official QD-OLED certified venues. The initiative marks the first collaboration of its kind between a display manufacturer and the i-cafe industry. Under the program, venues must have at least 30 QD-OLED monitors installed to qualify for certification. Samsung Display provides promotional materials, including certification signs, standing banners, keyboard and mouse pads and interior decorations. The company said it had designated 10 venues in major Chinese cities, including Beijing and Shanghai, as of October, and plans to expand the network to 60 by year-end. China's i-cafes are a major sales channel for gaming OLED monitors, accounting for approximately 30 to 40 percent of sales. They als

2 MIN READ
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Hanwha Aerospace breaks ground on Chunmoo missile plant in Poland

Hanwha Aerospace has started building a factory in Poland to make guided missiles for its Chunmoo multiple rocket launcher, the company said Thursday. The plant takes its defense partnership with Poland beyond exports and into local production. The Korean defense firm held a groundbreaking ceremony Wednesday in Gorzow Wielkopolski, western Poland, for a plant that will be run by Hanwha WB Advanced Systems, its joint venture with Polish defense company WB Group. It will be Hanwha Aerospace’s first guided missile production facility outside Korea. About 250 government and industry officials from both countries attended. The plant will sit on a site of about 1.16 million square meters and is set to be completed in 2028. It will produce the CGR-080, a missile with a range of about 80 kilometers, for the Homar-K, the Polish version of the truck-mounted Chunmoo. Once technology transfer, testing and certification are complete, the venture plans to begin initial production in late 2029 and full-scale production in 2030. The project is expected to create more than 200 jobs and to buy parts an

2 MIN READ
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'Itaewon Class' to get Thai adaptation

Two Korean webtoons, "Itaewon Class" and "The Spooky Love Tale of Gongchan Seol," are set to be adapted into Thai television dramas, extending the international reach of Korean webtoon-based productions. "Itaewon Class," which has already been adapted for television in Korea, Japan and Taiwan, will expand into Thailand, while "The Spooky Love Tale of Gongchan Seol" will be reimagined as a horror romance series for local audiences. Kakao Entertainment said Thursday that both titles were included in the drama lineup unveiled Tuesday at GMMTVNEXT: GENERATION HAPPY, a production presentation hosted by Thai entertainment company GMMTV. The main cast members were also announced at the event. GMMTV operates across television dramas, films, variety shows and artist management. Its productions include "2gether The Series," which gained popularity internationally. The Thai remake of "Itaewon Class," based on a webtoon by creator Kwang Jin, is tentatively titled "ITAEWON CLASS THAI EDITION." The cast includes Sky Wongravee, Film Rachanun, who reiceved the Asia Star Award at the 2025 Seoul Internati

3 MIN READ
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Korean, Chinese filmmakers seek common ground beyond politics through AI

Despite political tensions and historical differences between their countries, two filmmakers from Korea and China believe stories of ordinary people helping one another can offer a path toward greater understanding. The directors, who won the top prizes at the China-Korea Artificial Intelligence (AI) Video Competition, drew inspiration from little-known acts of solidarity between Koreans and Chinese, using AI-generated films to bring those stories to life. The Chinese Embassy in Seoul hosted an AI short film competition, inviting young people from both countries to use AI to create videos highlighting stories of cultural exchange and friendship. One grand prize winner was selected from each country, with each receiving 15,000 yuan (3.08 million won) and a round-trip airline ticket to a destination served by China Southern Airlines. Chinese grand prize winner Liu Jiakai is an experienced filmmaker who has long sought to bring people from different countries and cultures together through his work. His inspiration for the winning film came from a story shared by Chinese President Xi Jinpin

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3 in 4 Seoul residents drink tap water: survey

Three in four Seoul residents now drink the city’s tap water, which is sold under the brand name Arisu, and more of them are drinking it away from home, a city survey showed Thursday. In the Seoul Metropolitan Government’s annual survey, 75.5 percent of residents said they drank tap water this year. That was up from 75 percent last year and 69.6 percent in 2024, when the city started using its own measure. The figure adds the 53.9 percent who drink tap water at home to the 21.6 percent who drink it only outside the home. The city created the measure because standards for calculating tap water drinking rates vary by country and institution. Under the American Water Works Association’s criteria, Seoul’s rate was 78.2 percent, 13.2 percentage points above the U.S. figure of 65 percent in 2024. Paris counts people who drink tap water either alone or along with other water. By that method, Seoul’s rate was 82.5 percent, compared with 81 percent for the French capital in 2025. The city said the rise came mainly from more people drinking tap water outdoors. The share of residents who

2 MIN READ
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Gen Z guide to ultimate after-work playlist

Korea is notorious for its long and grueling work hours, the pressures of "hoesik" — a workplace dinner gathering that usually involves alcohol consumption — and the omnipresent crowds of uncaring people that always seem to go slightly too slow on the way to the subway escalators. While many of these aspects have improved over the years, the way home from work still remains an exhausting experience for many. For those who wish to spend their time after work productively, switching to the right state of mind during the commute — often with a relatable or cathartic song — is an essential step in retaining the energy to last into the evening hours. Here are seven song recommendations for different after-work moods. If you're getting ready for a date ... We recommend: "Friday" by IU (feat. Jang Yi-jeong) This song is perfect if you have a date coming up during the weekend and can’t wait to meet — especially if the relationship is still in the hesitant, uncertain early stages of lingering gazes and fluttering hearts. IU and Jang Yi-jeong, now known as EL CAPITXN, take on the roles

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Editor's Pick

Decisive Democratic victory could bring tougher OPCON transfer conditions: experts

Decisive Democratic victory could bring tougher OPCON transfer conditions: experts

The Democratic Party’s victory in the U.S. midterm elections could complicate Seoul’s push to regain wartime operational control (OPCON) from Washington, with experts warning that the new congressional majority may seek tougher conditions for the transfer. Democrats secured control of both the House and Senate, putting Congress in a stronger position to scrutinize U.S. President Donald Trump’s security policies, including U.S. troop deployments and defense cooperation with Seoul. Shin Beom-chul, a senior research fellow at the Sejong Institute and former vice defense minister, warned that the Democratic victory could create new hurdles for Seoul’s OPCON ambitions. “If Democrats take control of Congress, they could impose tougher conditions on the OPCON transfer through the National Defense Authorization Act,” Shin said. Seoul seeks to retake OPCON by 2028, with the allies set to decide on the timeline at a security consultative meeting slated for early next year. The election outcome gives Democrats greater leverage over defense legislation. Any new restrictions on OPCON trans

3 MIN READ

Life in Korea

Busan named Best Culinary Destination in 2026 TripZilla Awards

Busan named Best Culinary Destination in 2026 TripZilla Awards

Busan has earned international recognition for its food culture, winning the Best Culinary Destination title in the 2026 TripZilla Excellence Awards, marking its second consecutive year receiving an award from the Southeast Asian travel media outlet. Busan Metropolitan City said Thursday that TripZilla selected the southeastern port city for its diverse culinary offerings, including fresh seafood and regional specialties. The latest award follows Busan's selection as Best City Destination in the 2025 TripZilla Excellence Awards, giving the city back-to-back recognition in two different tourism categories. TripZilla, described by the city government as one of Southeast Asia's largest digital travel media networks, operates online platforms across Singapore, Malaysia, the Philippines and Indonesia, reaching more than 20 million people monthly. The annual TripZilla Excellence Awards recognize tourism destinations and services across various categories, with Busan named the sole winner in this year's Best Culinary Destination category. The award highlights the city's combination of maritime a

2 MIN READ

Lifestyle

Hungarian calligraphers reinterpret Hangeul in new Seoul exhibition

A Hungarian calligraphy collective has brought its unique interpretations of Hangeul to Seoul, showcasing Korean lettering through a European artistic lens. Munbangsawu, a Hungarian calligraphy group formed by students of the Korean Cultural Center in Hungary, has been invited to participate in the 2026 Asian Calligraphy Festival VI, which opens Thursday at the Seoul Calligraphy Museum inside Seoul Arts Center. The exhibition runs through Nov. 14 and features 15 works by 12 Hungarian members, making Munbangsawu the only invited foreign group from outside Asia. The members are also traveling to Korea to attend the opening ceremony, explain their works and introduce visitors to their experiences studying Hangeul calligraphy. The group traces its beginnings to Korean calligraphy classes offered by the Korean Cultural Center in Hungary in 2013, where participants have continued learning the traditional art form over the years. The invitation followed visits to Hungary by Lee Sang-bae, vice chairman of the Korea Literary Painting Association, in 2025 and August 2026, when he encountered the st

2 MIN READ
Hungarian calligraphers reinterpret Hangeul in new Seoul exhibition

K-Culture

Shin Min-a, Lee Jin-uk to appear in upcoming romance drama

Actors Shin Min-a and Lee Jin-uk will portray a couple who reunite after a breakup in an upcoming romance drama set to premiere in the first half of next year, its broadcaster said Thursday. Set in a restaurant that only opens Wednesdays, Thursdays and Fridays, the series follows the love, forgiveness and growth of its lead characters, according to MBC. The Korean title of the series is "Wednesdays, Thursdays, Fridays." Shin portrays Eun-soo, who reunites with a boyfriend she broke up with 12 years ago, while Lee appears as the chef of the restaurant and Eun-soo's former boyfriend. The series also features Teo Yoo as Eun-soo's husband, a business executive. Joo Hyun, known for "The World of the Married," based on the BBC series "Doctor Foster," penned the upcoming drama, while director Jung Dong-yoon of the sports drama "Stove League" helmed the series.

1 MIN READ
Shin Min-a, Lee Jin-uk to appear in upcoming romance drama

Celebrities

'God will resolve it': Park Jin-young responds to religious controversy

Singer and producer Park Jin-young has personally pushed back against allegations that his religious group, Firstfruits, is a heretical or pseudo-religious organization. He suggested that such accusations amount to “persecution” and that the matter will eventually resolve itself according to God's will. In a lecture video posted Tuesday on the Firstfruits YouTube channel, Park said, “We are now beginning to hear people call us heretics and a cult, and are starting to face a great deal of persecution in earnest.” He added that “things will be resolved at the right time and in the right way.” “It is not something that can be resolved by debating doctrine or organizing people to go out and post comments,” he said, emphasizing that “God will take care of that resolution as well.” The lecture, titled “False Confidence vs. True Confidence,” runs for just over an hour and seven minutes. During the talk, Park also explained what led him to embrace religion. “For the first time, when I turned 40, things didn't go the way I wanted,” he said, reflecting on his past. “B

2 MIN READ
'God will resolve it': Park Jin-young responds to religious controversy

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Opinion

Top 10 Stories

  1. COVER STORY Seoul to send anti-piracy unit closer to Hormuz, add mine-clearing team

  2. Multicultural marriages in Korea edge down in 2025

  3. US midterm 'blue wave' puts pressure on memory chip demand

  4. Democrats usher in new era with resounding sweep of the House and the Senate

  5. Korea seeks another crypto tax delay over gaps in overseas data and rules

  6. Atomy tops Asia's best workplace list with human-centered management

  7. ROUNDTABLE Korea needs AI-ready ontology, should not end with developing models

  8. Interview'Coupang uses US lobbying to frame Korean sanctions as discrimination'

  9. Hoban's Hanjin KAL stake gains $683 mil. amid speculation over battle for control

  10. West Point cadet drugged girlfriend to force unwanted abortion: lawsuit

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