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COVER STORY Iran war hinders multiple Korea-US projects

Korea is facing an increasingly complicated task as it seeks to address a series of pending issues with the United States, as U.S. pressure for it to participate in the Iran war intertwines security and diplomatic challenges with economic and trade interests. While participating in the war in any form is not an easy decision for Korea to make, the growing pressure is effectively preventing progress in other major bilateral issues, including Korea's $350 billion investment commitment in the U.S. and its pursuit of domestically developed nuclear-powered submarines. U.S. President Donald Trump has repeatedly expressed frustration over Korea's reluctance to provide military support for the U.S. war on Iran. In a Fox News interview late last month he claimed that Seoul had turned down his request for help in the war and warned that he would "remember that." Voice of America reported on Saturday that a White House official said that the U.S. was “still waiting for Korea to commit resources” to the region. Seoul had been cautious about any potential participation, given its ties with Iran a

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COLUMN Seoul should consider joining UK-France-led Hormuz mission

Korea faces a dilemma over whether to deploy military assets to the Strait of Hormuz. The alliance with the United States is too important for Seoul to simply disregard Washington’s request for a military contribution. At the same time, dispatching a warship would carry serious consequences. Such a deployment could be interpreted as Korea joining U.S. military action against Iran, unnecessarily turning Tehran into an adversary. The multinational maritime mission being developed by the United Kingdom and France deserves close attention. Early reports indicated that roughly 15 countries were involved in operational planning, while a considerably larger number later joined diplomatic consultations and expressed political support. Korea has also endorsed an international statement calling for freedom of navigation in the Strait and has discussed possible contributions with the United States, Britain and France. Seoul’s choice, therefore, need not be reduced to a simple question of accepting or rejecting a U.S. request. The most important feature of the U.K.-France initiative is its sta

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DPK chief pushes constitutional revision, leaves presidential term change open

Ruling Democratic Party of Korea (DPK) leader Kim Min-seok said Monday that his party will push for constitutional revision, including changes to Korea’s presidential system, bringing the politically sensitive issue of presidential terms back into focus. Kim stopped short of endorsing a specific model, saying the scope of any change should ultimately be determined through public consensus. “We will pursue constitutional revision that is realistically achievable, reflecting changes in the times and the demands of the people while respecting the procedural principles of the Constitution and the law,” Kim said in his first parliamentary floor speech since becoming party leader. “Including the May 18 Gwangju Democratic Uprising and the Busan-Masan Democratic Protests in the preamble to the Constitution would be the starting point,” he said. “As for changes to the power structure, we should go as far as the public wants.” Kim’s remarks come as President Lee Jae Myung has called for changing the current single five-year presidential term to a system allowing a president to serv

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Foreign, institutional buying of chip stocks lifts KOSPI near 7,000

Foreign and institutional investors stepped up purchases of chip stocks Monday, helping lift the KOSPI near 7,000 as renewed optimism over artificial intelligence (AI)-driven memory demand fueled a semiconductor rally. The benchmark KOSPI closed at 6995.39, up 4.61 percent from the previous session. The index opened 3.34 percent higher and extended its gains. Foreign and institutional investors net purchased 2.59 trillion won ($1.93 billion) and 2.63 trillion won worth of shares, respectively, while retail investors net sold 6.82 trillion won. SK hynix rose 8.26 percent to close at 1,783,000 won, while Samsung Electronics gained 5.68 percent to finish at 270,000 won. OpenAI's new GPT-6 Astra model, which has drawn positive reviews for its performance, fueled expectations for increased token usage and further expansion of AI infrastructure. Nvidia's announcement that it would acquire Hugging Face also reinforced expectations for stronger memory demand. Brokerages are increasingly calling for a revaluation of Samsung Electronics and SK hynix after their shares fell about 38 percent from the

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Interview'AI sapiens era is inevitable, and education will determine its future'

Choi Jae-boong, professor of mechanical engineering at Sungkyunkwan University, says humans are evolving into “AI sapiens,” a new type of being that uses artificial intelligence (AI) as a natural extension of the mind, and education will determine how bright a future humanity can build in this new era. Choi wrote the 2019 book “Phono Sapiens,” which popularized in Korea the idea that smartphones had become indispensable to modern life. He expanded the concept to AI in his 2024 book “AI Sapiens,” which explores how humans using AI could reshape industrial structures and usher in a new civilization. Choi will deliver a keynote speech at the 2026 Korea Times Global Conference, scheduled for Sept. 15 at the Grand Hall of the Korea Chamber of Commerce and Industry. His speech will focus on the concept of “AI Sapiens” and what kind of leadership will be needed in the AI era. Widely regarded as an expert in applied AI science and a tech futurist who studies how emerging technologies will reshape our society, Choi told The Korea Times that humanity has always chosen tools that i

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Can 'Possible Love' win Lee Chang-dong top prize at Venice film festival?

Filmmaker Lee Chang-dong’s "Possible Love" received a seven-minute standing ovation at the Venice International Film Festival on Sunday (local time), with early reviews praising the director's strong comeback. The positive response builds hope that Lee might win the top prize he missed two decades ago. Twenty-four years after winning the Silver Lion for best director with "Oasis" in 2002, Lee is back at the Italian film festival, this time vying for the festival's top prize, the Golden Lion. "Possible Love” is his first film since 2018's "Burning.” The Hollywood Reporter called it "a profound meditation on trauma, loss of dignity, yearning and class envy," describing the film as "a sad but beautiful chamber piece, fleshed out by a superlative ensemble." The International Cinephile Society gave it 4.5 out of 5 stars, calling it "an absolute knockout of a film about love having the possibility to bridge divides and deliver freedom, even for a brief moment." At the film's press conference the same day, Lee addressed the eight-year gap since "Burning.” “I felt our lives themselves

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Lee Jae Myung to co-chair French summit on cinema, announce investment initiative

Korean President Lee Jae Myung was set to co-chair a global summit on the future of cinema in Saint-Paul-de-Vence, France, on Monday, and announce a large-scale investment initiative for the global cinema sector. Lee, alongside French President Emmanuel Macron, will co-chair the Lumiere Summit, where he plans to deliver a speech outlining efforts to address a shift in the environment that is threatening the cinema sector. The summit will bring together policymakers, politicians and artists involved in the cinema and game industries from 30 countries to discuss the future of cinema and beyond. During the summit, Lee and Macron will jointly declare an initiative to invest a total of 500 million euros ($580.9 million) for a five-year period starting in 2027, Seoul's presidential spokesperson Kang Yu-jung said in a release. Under the initiative, participating countries will set up funds to financially support local content companies and seek joint production projects between those countries. Lee will also hold a meeting with Korean producers and actors invited to the summit, including film di

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Public sector gender pay gap falls below 20% for 1st time

The gender pay gap at Korea's public institutions fell below 20 percent for the first time on record, part of a broader trend seen across the private sector as well. Women at public institutions earned an average of 60.56 million won ($45,300) in 2025, 19 percent less than men's 74.79 million won, according to a gender wage statistics survey released by the Ministry of Gender Equality and Family on Monday. The survey covered 3,146 companies subject to disclosure requirements and 355 public institutions. The gap narrowed 1 percentage point from a year earlier, the first time it has fallen below 20 percent since the ministry began compiling the statistics in 2020. Women's wages at public institutions rose 4.1 percent from a year earlier, outpacing a 2.9 percent gain for men. Average tenure stood at 10.6 years for men and 8.7 years for women, narrowing the tenure gap 1.8 percentage points to 18.1 percent. "Public institutions have wage systems that strictly limit gender discrimination, while private companies are less affected by those systems," said Kim Sung-hee, a professor at Korea Univ

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Frieze, Kiaf Seoul point to Korea's recovering art market

In the art world, sales are often the barometer of a successful art fair. A successful fair is typically measured by a handful of blockbuster deals signed during the event. This year’s Frieze Seoul and Kiaf Seoul, which closed on Sunday, sent a more nuanced message. The fairs did not see any ultra-high-value sales like those that made headlines during Frieze Seoul’s 2022 debut, but they sent a clear enough signal that Korea’s art market was regaining its footing, with a broader range of buyers, price points and artists. The fifth Frieze Seoul, held at Coex from Sept. 2-5, drew more than 70,000 visitors from 54 countries and regions, its most internationally diverse audience to date, according to the fair organizers. Some 178 museums and institutional representatives from 25 countries also attended, marking another record. Likewise, homegrown Kiaf Seoul attracted about 80,000 visitors to its 25th edition until the last day on Sunday, bringing together 175 galleries from 18 countries. Fair organizers said attendance on its opening Wednesday and Thursday saw a 5 to 10 percent jump fro

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Hyundai's AI ambitions face investor reality check

Hyundai Motor’s ambitious artificial intelligence (AI) pivot faces a credibility test as foreign investors retreat amid lingering doubts over whether the carmaker can turn its costly bets on robotics and autonomous driving into profits. Foreign investors’ stake in Hyundai Motor topped 35 percent in January but fell to about 24.42 percent as of Friday, reversing much of the optimism that had surrounded the company’s push into physical AI and robotics. The retreat comes as Hyundai’s earnings outlook has become increasingly uncertain. The company has been hit hard by higher tariffs from the United States, rising costs and production disruptions, while labor strikes in Korea are expected to weigh further on the firm’s third-quarter earnings. Hyundai’s stock surged earlier this year, as investors embraced its ambition to move beyond traditional automobile business and capitalize on the rapid growth of AI and robotics. However, as the market has shifted its focus back to earnings, questions over when those investments will actually generate meaningful returns have grown. Hyundai ha

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Hair-loss treatment stocks emerge as Korea's latest market theme

Hair-loss treatment stocks have emerged as the latest theme in Korea's equity market, drawing investors searching for the next big pharmaceutical trade after the boom in obesity drugs, market watchers said Monday. Shares of JW Shinyak and Samik Pharm jumped 55.7 percent and 62.89 percent over the past week, respectively, as enthusiasm spread across Korean companies seen as having exposure to the hair-loss market. Hyundai Pharmaceutical also gained 32 percent. JW Shinyak, a pharmaceutical affiliate of JW Group, sells prescription drugs through hospitals, clinics and pharmacies. Its hair-loss portfolio includes oral and topical treatments, and the company is expanding into hair care cosmetics. Hyundai Pharmaceutical is a longtime player in Korea's hair-loss drug market, with a 39-year presence. Samik Pharm is positioning itself as a next-generation player. In January, it secured a patent for a platform technology aimed at converting once-daily oral hair-loss drugs into long-acting injections administered once a month. The gains extended beyond drugmakers. Bioneer, which develops hair-loss c

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HYBE chairman case reaches prosecutors: What's next for him?

The police file on HYBE Chairman Bang Si-hyuk arrived at the Seoul Southern District Prosecutors' Office last week with a precise number attached: 263.1 billion won ($190 million) in what investigators called improper gains. The question that will decide Bang's fate is one that police and prosecutors have spent almost two years failing to settle between themselves: what crime, if any, the conduct amounts to. On Thursday, the Seoul Metropolitan Police Agency's financial crime investigation unit referred Bang and four others to prosecutors without detention on suspicion of fraudulent unfair trading under the Capital Markets Act, closing an investigation that went on for 21 months. Prosecutors will now review the record before deciding whether to indict, order further investigation or drop the financial crime charge, and lawyers who work these cases say all three remain possible. What police say happened Investigators allege that in 2019, while the company, then known as Big Hit Entertainment, was already moving through preliminary listing procedures, Bang and others told existing shareholde

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Justice minister nominee denies illegal COVID-19 treatment lobbying allegations

Justice Minister nominee Kim Seung-won on Monday denied allegations of illegal lobbying for a COVID-19 treatment in 2021, while acknowledging he should have been more careful in his request over the medication at the time. Kim, a two-term lawmaker, has faced accusations of unlawful solicitation for allegedly asking the then food and drug safety minister to speed up the treatment's clinical trial approval at a broker's request. "I take seriously the fact that I should have been more careful in conveying the request," Kim told reporters. "I never made an illegal solicitation to the food and drug ministry, and its review was not unfairly conducted as a result." Kim said he had called the food and drug safety minister at the time to prevent the drug from being unfairly delayed in clinical trial proceedings, noting that COVID-19 treatments were being fast-tracked during the pandemic. He also highlighted the prosecution's deferral of his indictment when they examined the case. Prosecutors previously withheld formally charging Kim after determining his request could not be definitively found as

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Korea targets Mongolia's wealthy miners for its next big health care boom

Far from the sleek aesthetic clinics of Gangnam in southern Seoul, a quiet revolution in global health care is taking shape in the mining region of Mongolia. Korea is expanding its reach beyond typical cosmetic tourists, turning its attention toward high-earning industrial workers in booming resource economies. This strategic pivot was on full display as the Korea Tourism Organization (KTO) concluded a targeted medical tourism roadshow in Ulaanbaatar and the southern mining hub of Dalanzadgad. Rather than pitching routine wellness escapes to general consumers, the initiative zeroed in on a lucrative demographic: executives, engineers and miners backed by Mongolia’s powerful natural resource sector, which drives 30 percent of the nation's gross domestic product and accounts for nearly all of its exports. The push highlights a notable shift in Asia's medical travel market. Medical visitors from Mongolia spend an average of 9.88 million won ($7,400) per trip — nearly 1.5 times the average spent by general international health tourists in Korea. Last year alone, more than 35,000 Mongoli

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Krafton chairman meets Indian PM, pledges $250 mil. additional investment

Krafton Chairman Chang Byung-gyu met with Indian Prime Minister Narendra Modi in New Delhi on Friday, reaffirming the Korean game developer’s long-term commitment to India and its growing gaming and technology industries. The meeting highlighted opportunities for India and Korea to deepen cooperation in gaming, innovation and emerging technologies, according to Krafton. Krafton has invested $250 million in India to date and plans to invest an additional $250 million over the next three to four years, bringing its total planned investment in the country to about $500 million. The company has also established a $670 million venture growth fund to support investments in India. Krafton said its investments will support the development of India’s gaming ecosystem, homegrown intellectual property and startups, while expanding into emerging fields such as artificial intelligence, robotics and deep technology. “India is a market of immense opportunity, with exceptional talent across gaming, technology and innovation,” Chang said. “Our continued investments reflect our long-term confidenc

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JB Financial enters Indonesia, eyes EV finance as new growth engine

JB Financial Group won regulatory approval to acquire a majority stake in an Indonesian finance company, completing a key step toward establishing a foothold in Southeast Asia’s largest economy, the company said Monday. The Indonesian Financial Services Authority gave its approval after the group’s affiliate, JB Woori Capital, signed a share purchase agreement with PT Bank KB Indonesia, KB Kookmin Bank’s Indonesian subsidiary, in July last year to acquire an 85 percent stake in KB Bukopin Finance for about 29 billion won ($22 million). The approval completes the key regulatory procedures required to close the deal. It will allow JB Financial Group to accelerate its expansion across Southeast Asia by adding Indonesia to its existing operations in Cambodia, Myanmar and Vietnam. JB Financial aims to complete the acquisition by the end of this year and subsequently rebrand the company, with the new name expected to be finalized in December. Established in 1983, KB Bukopin Finance offers a broad range of lending services in Indonesia, with corporate and working capital financing forming

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Musinsa launches Pharmacy Beauty

Musinsa Beauty will introduce a new retail format combining beauty products and pharmacy services through a partnership with Onnuri Pharmacy, as consumers show growing interest in high-performance cosmetics and inner beauty products. The Pharmacy Beauty service will debut at Musinsa Beauty Hongdae, which is set to open near Hongdae in Seoul’s western Mapo District on Friday. The initiative combines pharmacists’ expertise with beauty retail, offering personalized product recommendations focused on functional cosmetics and inner beauty products. Musinsa Beauty Hongdae spans four floors, while Onnuri Pharmacy will occupy the entire basement level. The two companies signed a partnership last month to collaborate in the pharmacy beauty sector. Onnuri Pharmacy is one of Korea’s largest pharmacy-chain brands, with more than 2,200 affiliated pharmacies nationwide. Onnuri H&C, which operates the brand, offers pharmacy-exclusive cosmetics and functional health supplements based on pharmacists’ professional expertise. The partnership reflects a broader shift in the beauty market, with consu

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Editor's Pick

[COVER STORY] From Tiger to Align, shareholder activism takes root in Korea

COVER STORY From Tiger to Align, shareholder activism takes root in Korea

When a U.S. fund began challenging SK Telecom in 1999, corporate Korea was only beginning to learn what shareholder activism looked like. The country had only recently emerged from the depths of the Asian financial crisis, and its capital markets were opening rapidly to foreign investors. Tiger Management built a 6.6 percent stake in the country's largest wireless carrier and pressed for changes, including stronger external oversight and a greater say in how the company was run. The Chey family, one of Korea's chaebol dynasties and the controlling family behind SK Group, spent about 2 trillion won defending its grip on the group. Within months, Tiger had reaped about 630 billion won ($463.6 million) from selling its stake. The idea that an outside investor could buy into a major Korean company and publicly demand change was still novel — and deeply unsettling to many companies. Tiger's windfall only deepened suspicions that foreign funds were enriching themselves at Korea's expense. That wariness persisted. Sovereign challenged SK Corp. in 2003. Carl Icahn took on KT&G in 2006. Elliott

4 MIN READ

Life in Korea

Seoul expands guided night walks through historic districts

Seoul expands guided night walks through historic districts

Under the glow of neon signs and high-rise buildings, Asia’s late-night economies are usually associated with bustling night markets, rooftop bars and late-night shopping centers. Now, Seoul is taking a more historical approach aimed at keeping tourists on their feet past dusk: guided midnight walks along ancient fortress walls and illuminated royal palace grounds. The Seoul Metropolitan Government on Monday announced a major expansion of its evening walking tour programs as part of an aggressive push to convert casual daytime sightseers into high-spending nighttime tourists. The initiative extends the city's night tour calendar from a limited six-month season to nine months — stretching from mid-March through mid-November — while pushing back final departure times from 7 p.m. to 8 p.m. To capture the weekend crowd, special Friday Night Life tours will be held as late as 9 p.m. across prime central locations. The effort is central to the city’s broader strategy to build a "24-Hour Vibrant Economic City." Rather than simply encouraging bar owners to stay open later, municipal le

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Lifestyle

AI meets history at Gyeongju's landmark World Heritage Industry Expo

Ancient history meets cutting-edge innovation this week as Gyeongju, the former capital of the Silla Kingdom (57 B.C.–935 A.D.), transforms into a testing ground for the future of cultural preservation. The 2026 World Heritage Industry Expo opens its doors Thursday, offering a glimpse into how artificial intelligence, extended reality and immersive media can revitalize the nation’s heritage sector. Marking its 10th anniversary, this year’s milestone event stands as the largest to date, uniting 133 companies, research institutions and organizations. The expansion reflects a broader national push to bridge historical conservation with high-tech industries, turning legacy into a forward-looking economic engine. Across the venue, dynamic exhibitions will span advanced restoration tech, digital archive tools, consumer products and interactive public installations. The core focus of the 2026 program lies in the integration of AI and extended reality, tools increasingly used in historical reconstruction, digital storytelling and global outreach. On Friday at 2 p.m., Suwen Wang, a special

2 MIN READ
AI meets history at Gyeongju's landmark World Heritage Industry Expo

K-Culture

TripleS cuts concert price amid rising K-pop ticket costs

K-pop girl group tripleS slashed its concert ticket prices. As inflation continues to drive up costs, live concert tickets have risen sharply, and in an industry where tickets routinely exceed 200,000 won ($149), the group's move has inevitably captured the attention of K-pop fandoms. The group kicks off its new world tour, "ANDLESS," at Jangchung Arena in Seoul on Oct. 10 and 11. This Seoul leg drew intense interest because Modhaus, the group's agency, priced S-section tickets at 30,000 won. Concert ticket prices have gradually climbed in recent years. As production values rise and staging becomes more extravagant, regular admission seats now often cost well above 100,000 won while VIP seats at major K-pop agency shows routinely exceed 200,000 won. Once elevated, concert ticket prices often become the new standard. Amid this trend, tripleS took the opposite approach, opting not for a temporary discount, but to lower the barrier to entry for the live concert experience and make performances accessible to a broader audience. Modhaus cited audience accessibility as the main reason for the

2 MIN READ
TripleS cuts concert price amid rising K-pop ticket costs

Celebrities

Former Thai idol shares photo with BLACKPINK's Lisa

Pleum, a former member of Thai boy band V.R.P and a friend of BLACKPINK's Lisa, shared a photo of the two together. Pleum posted the image Saturday with the caption, "Hello SaWaDiKa. I’m screaming [you're doing great] since yesterday." The photo shows the two smiling for the camera. Wearing a striking red crop top and skirt, Lisa has her arms around Pleum's shoulders while he rests his arm around her waist. The two smiled brightly, highlighting their friendship. Meanwhile, the recently released documentary film "Always Lalisa" chronicles Lisa's journey from trainee to solo artist. "In K-pop culture, we can't date," she said in the film. "When I was younger, I dated a few times, but we had to hide when we're dating. I didn't want my dating to be the thing that hurts Blackpink's popularity." She noted she drew on those experiences for her album. The singer has been romantically linked to Frédéric Arnault, heir to the LVMH luxury empire, since 2023, though recently there has been speculation that the two had split up. She was subsequently linked to Thai actor Blue Pongtiwat in unconfirmed r

1 MIN READ
Former Thai idol shares photo with BLACKPINK's Lisa

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Opinion

Top 10 Stories

  1. Busan-Taiwan flights surge as city captures Taiwanese tourists' hearts

  2. Lee arrives in France, set for summit with Macron in Paris

  3. Suspect arrested after body of missing woman found in cafe freezer

  4. Hair-loss treatment stocks emerge as Korea's latest market theme

  5. Lee reaffirms commitment to 'pacemaker' role to promote N. Korea-US dialogue

  6. Naver winds down services to bolster AI, commerce businesses

  7. Korea's 1st US investment project stalled over unclear terms

  8. Seoul shares sharply up late Monday morning on strong chip gains

  9. How was Roh Moo-hyun different from Lee Jae Myung?

  10. Mosquito numbers double in just a week as scorching summer heat eases

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