Journalist
Kim Yeon-jae김연재
duswogmlwo77@ajupress.com
ReporterBank of Korea & Market, Macroeconomics
Kim Yeon-jae is a journalist at AJU Press (AJP's English platform),
covering macroeconomics, international finance, and geopolitics.
He closely tracks central bank monetary policies, global energy supply chains,
and the Korean defense industry. "Peering into the risks behind the euphoria."
covering macroeconomics, international finance, and geopolitics.
He closely tracks central bank monetary policies, global energy supply chains,
and the Korean defense industry. "Peering into the risks behind the euphoria."
Latest by Kim Yeon-jae
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World Cup 26: Asia holds firm, New Zealand shine, and South America winless SEOUL, June 16 (AJP) - Asian teams extended their unbeaten start to this year's FIFA World Cup on Monday, while New Zealand marked its return to the tournament with a spirited draw. South America's wait for a first win continued as Uruguay fell short of victory. Four matches played across the U.S. produced no wins for the traditional favorites. Spain was held to a 0-0 draw by Cape Verde in Atlanta, Georgia, as the World Cup debutants frustrated one of Europe's strongest teams. Cape Verde goalkeeper Vozinha was the hero, making seven saves as Spain poured forward but failed to break through. La Roja controlled most of the match and had 27 attempts, but Cape Verde defended deep, stayed compact and survived several dangerous moments. Spanish Teenage winger Lamine Yamal came on in the second half in hopes of turning the match around, but even his appearance failed to produce a breakthrough. The result gave Cape Verde its first point in their first World Cup match. Belgium also failed to start with a win, drawing 1-1 with Egypt in Seattle, Washington. Egypt took the lead in the 19th minute when midfielder Emam Ashour scored after being set up by Mohamed Salah. The goal gave Egypt hope of a historic first World Cup victory, and the African side played with confidence for much of the match. Belgium was below its best until Romelu Lukaku came on in the second half. Lukaku did not score, but his movement inside the box helped force Mohamed Hany into an own goal, allowing Belgium to escape with a point. For Egypt, the draw was a strong result on paper but also a missed chance after it had put themselves in position to beat one of Europe's top sides. Saudi Arabia then kept Asia's unbeaten run alive with a 1-1 draw against Uruguay in Miami Gardens, Florida. The Saudis went ahead in the first half through Abdulelah Al Amri and spent long stretches trying to protect its lead. Dictating the tempo in the second half, Uruguay eventually found an equalizer through Maxi Araujo, denying Saudi Arabia a second straight World Cup opening win after its famous victory over Argentina in 2022. Still, the result was another sign of Asia's strong start, following earlier wins by South Korea, Australia - and draws by Japan and Qatar. The final match of the day brought another twist as 85th-ranked New Zealand held 21st-ranked Iran to a 2-2 draw at Los Angeles Stadium in Inglewood, California. Iran entered the match under unusual circumstances, having had to base themselves in Mexico and travel into the U.S. for matches because of visa issues. New Zealand, back at the World Cup for the first time since its unbeaten three-draw campaign in South Africa in 2010, made an immediate impression. Elijah Just scored New Zealand's opener and later restored its lead, with captain and star striker Chris Wood providing both assists. Iran twice equalized through Ramin Rezaeian and Mohammad Mohebi, but New Zealand still left with a valuable point in its first World Cup match in 16 years. The result kept the group-stage round finely balanced after Belgium and Egypt also drew earlier in the day. Asia's unbeaten run in the opening round of group matches now depends on three remaining teams: Iraq, who face Norway later Tuesday, Jordan, who meet Austria early Wednesday, and Uzbekistan, who open against Colombia later that day. South American teams that have played are still waiting for their first win, with Argentina set to open against Algeria at Kansas City Stadium on Tuesday and Colombia due to face Uzbekistan at Estadio Banorte in Mexico City on Wednesday The All Whites' task remains daunting, with the 85th-ranked All Whites still facing 29th-ranked Egypt and ninth-ranked Belgium in what looks like an almost impossible push for the knockout stage. 2026-06-16 16:37:42 -
BOJ raises rate to 1% for first time in 31 yrs; markets calm SEOUL, June 16 (AJP) - The Bank of Japan raised its policy rate by 25 basis points to 1 percent on Tuesday, pushing Japanese interest rates into the 1 percent range for the first time since 1995 as the country continues its gradual exit from decades of ultra-loose monetary policy amid rising inflationary pressure fueled by Gulf-related energy shocks. Japan, which has maintained near-zero interest rates since the mid-1990s to combat chronic deflation, is now confronting many of the same challenges facing South Korea: higher import costs stemming from a weak currency and elevated energy prices as both economies remain heavily dependent on Middle Eastern energy supplies. Financial markets reacted calmly, suggesting the move had been widely anticipated. The Nikkei 225 rose nearly 1 percent after trading largely flat before the announcement. South Korean markets showed little immediate impact, with the KOSPI up about 2 percent, while the dollar traded at 160.13 yen and 1,513.6 won as of 1 p.m. Seoul time. Korean government bond yields were mostly unchanged. The BOJ also reaffirmed plans to continue reducing its government bond purchases through the January-March quarter of 2027 before stabilizing monthly purchases at around 2 trillion yen beginning in April 2027. The decision marks the first return to the 1 percent range since September 1995, when the BOJ lowered its official discount rate from 1 percent to 0.5 percent. While today's short-term policy rate is not directly comparable with the official discount rate used at the time, the move nonetheless signals a return to an interest-rate level Japan has not seen in more than three decades. Inflationary pressures have continued to build. Japan's producer price index rose 6.3 percent from a year earlier in May, the fastest pace in three years. Even after Tuesday's increase, however, Japan's policy rate remains among the lowest in the developed world. The meeting also unfolded under unusual circumstances. BOJ Governor Kazuo Ueda was absent after being hospitalized for treatment of an infected liver cyst, according to the central bank. Deputy Governor Ryozo Himino chaired the meeting in his place, while Deputy Governor Shinichi Uchida was scheduled to explain the decision during the post-meeting press conference. For South Korea, the move narrows the policy-rate differential with Japan. With the Bank of Korea maintaining its benchmark rate at 2.50 percent, the gap between the two countries has narrowed to 150 basis points from 175 basis points previously. Before the meeting, TD Securities described a June rate hike as a foregone conclusion, while Wells Fargo said the immediate impact on the yen would likely be limited, arguing that global energy prices and future policy decisions by the Federal Reserve System remain more important drivers of currency movements. Investors are now expected to shift their attention to the BOJ's guidance on additional rate increases and its bond-purchase strategy beyond April 2027. 2026-06-16 13:08:46 -
Korea's M2 growth tops 10% under old gauge, fastest in over 4 years SEOUL, June 16 (AJP) -South Korea's money supply growth accelerated in April, with broad money under the previous M2 definition expanding at a double-digit pace for the first time in more than four years, partly explaining the stubbornly weak currency and frenzied asset investment. The Bank of Korea said Tuesday that broad money, or M2, averaged 4,153.9 trillion won ($2.79 trillion) in April on a seasonally adjusted basis, up 25.3 trillion won from the previous month. That translated into a 0.6 percent monthly increase, faster than March's 0.4 percent gain. On an annual basis, M2 rose 5.7 percent, accelerating from 5.5 percent in March and 4.9 percent in February. Under the previous M2 calculation method, however, the increase was far sharper. Old-method M2 averaged 4,684.6 trillion won in April, up 10.3 percent from a year earlier. It was the first double-digit expansion since March 2022, when the comparable figure stood at 10.8 percent. The pace was also among the fastest globally. Only China and Taiwan recorded stronger broad money growth in April, while the United States, Japan, the euro area and the United Kingdom all posted slower increases. The April data also showed a change in the composition of money growth. The main drivers shifted to deposits with maturities of less than two years and other monetary instruments in April - unlike March when money supply growth was led mainly by money market funds and instant-access savings deposits. Deposits with maturities of less than two years increased by 13 trillion won from the previous month. Other monetary instruments rose by 8.3 trillion won. The shift suggests that April's increase was driven more by flows into deposit-type and money-like financial products than by the short-term standby funds that shaped the March data. By holder, both companies and households increased their money holdings. M2 held by non-financial companies rose by 16.1 trillion won from the previous month, while households and nonprofit organizations added 7 trillion won. Other sectors, including social security funds and local governments, increased their holdings by 100 billion won, while other financial institutions reduced their holdings by 600 billion won. Narrow money, or M1, also grew at a faster pace. M1 rose 0.4 percent from the previous month and 8.3 percent from a year earlier, compared with a 7.8 percent annual increase in March. Liquidity at financial institutions, or Lf, increased 0.5 percent on month and 7.3 percent from a year earlier. The broadest liquidity gauge, L, rose 1.8 percent from the previous month and 8.1 percent from a year earlier. The continued rise in liquidity could add to policy concerns as interest rates face upward pressure and the won remains weak. The composition of April's increase, however, suggests caution in reading the data as a direct sign of stronger consumption or overheating in asset markets, as gains were led by time deposits and other monetary instruments The BOK began including Investment Management Accounts (IMAs) offered by comprehensive financial investment firms in Lf from this release. As IMAs were first issued in December 2025, the data were applied retroactively from that month. The central bank also revised parts of the M1, M2, Lf and L series from December 2022 onward to reflect changes in source data for external-sector statistics and other underlying data adjustments. 2026-06-16 12:39:06 -
Korea's import prices may have peaked out while chip exports power ahead SEOUL, June 16 (AJP) - South Korea's import prices may have peaked out after the Gulf war-driven oil shock eased in May, while soaring semiconductor prices continued to buttress the country's trade strength, central bank data showed Tuesday. The won-denominated import price index fell 0.3 percent in May from a month earlier, according to preliminary export-import price data released by the Bank of Korea. The decline followed a 2.1 percent drop in April after import prices had surged 18.0 percent in March when war in the energy-rich Gulf region sent crude oil prices sharply higher. The central bank said lower prices for mining products, coal and petroleum products drove the latest decline. Brent crude averaged $107.14 per barrel in May, down from $117.29 in April, while Dubai crude, a benchmark closely watched in South Korea, fell to $103.15 from $105.70 over the same period. Import prices had risen only 0.4 percent in January and 1.5 percent in February before the conflict triggered a sharp spike in March. Annual comparisons, however, showed price pressures remained elevated. Import prices fell 1.2 percent year-on-year in January and rose 1.6 percent in February before accelerating to 20.4 percent in March, 20.5 percent in April and 24.8 percent in May. Energy-related products continued to account for much of the increase. Import prices for mining products rose 42.4 percent from a year earlier in May, while coal and petroleum products jumped 73.1 percent. Raw material import prices fell 1.0 percent from April but remained 38.9 percent higher than a year earlier. Intermediate goods prices were unchanged from April as gains in primary metal products offset lower prices for coal and petroleum products. The data suggest that earlier increases in energy costs are still filtering through supply chains despite recent easing in global oil prices. Export prices moved in the opposite direction. The won-denominated export price index rose 0.3 percent from April and jumped 46.9 percent from a year earlier. Export prices increased 4.0 percent in January and 2.5 percent in February before rising 17.0 percent in March, 7.5 percent in April and 0.3 percent in May. Although the pace of monthly gains slowed in May, export prices continued to receive strong support from semiconductors. Prices for computer, electronic and optical products rose 5.4 percent from April and 104.0 percent from a year earlier. The category export price of 208.98 was highest since July 2010. Memory chips were the biggest contributor. DRAM prices surged 259.7 percent year-on-year, while NAND flash memory prices jumped 223.0 percent. Export prices for coal and petroleum products fell 11.0 percent from April as oil prices eased, though they remained 88.6 percent higher than a year earlier. The divergence between cooling import costs and resilient export prices helped improve South Korea's terms of trade. The net barter terms of trade index rose 18.7 percent from a year earlier in May, while the income terms of trade index climbed 36.1 percent. Export volumes increased 14.7 percent on year, led by semiconductors and other computer, electronic and optical products. Import volumes rose 5.2 percent, supported by increased purchases of electronic products as well as machinery and equipment. The May figures indicate that the energy shock that rattled South Korea's trade balance earlier this year has likely passed its peak, although price pressures remain elevated compared with a year ago. Expectations for further easing have strengthened after the United States and Iran reached a framework agreement aimed at ending the conflict and restoring stability to global energy markets. Oil prices have fallen back to the low-$80 range, returning to levels last seen in early March before the Gulf conflict escalated, though a persistently weak won continues to limit the relief, trading at around 1,515 per dollar compared with monthly averages of 1,490.11 in May and 1,487.39 in April. 2026-06-16 07:48:18 -
Korean won, bonds rally on U.S.-Iran framework SEOUL, June 15 (AJP) - The South Korean won and government bonds strengthened Monday on signs of foreign return after a de facto resolution to the monthslong Iran crisis. The won closed at 1,511.1 per dollar in the Seoul foreign exchange market, down 8.7 won from the previous session. South Korean government bonds extended last week's rally. The yield on the three-year government bond fell 6.4 basis points to 3.744 percent, while the 10-year yield dropped 7.7 basis points to 4.118 percent. The won and bonds were also supported by a recovery in risk appetite. The benchmark KOSPI jumped 5.2 percent to close at 8,545.98, with foreign investors buying a net 985.8 billion ($652.4 million) won worth of shares on the main bourse. The global market reaction was broad-based. Before regular U.S. stock trading began, Nasdaq-100 futures rose nearly 2 percent and S&P 500 futures gained around 1 percent, while the dollar index fell to its lowest level since June 5 and U.S. Treasury yields declined. The sharpest move came in oil. Brent crude fell more than 4 percent to the low-$83 range per barrel, while West Texas Intermediate (WTI) dropped more than 5 percent, as markets priced in the possible reopening of the Strait of Hormuz and the lifting of a U.S. naval blockade on Iran. The market moves came after Pakistan said the United States and Iran had reached a framework aimed at ending the war. U.S. President Donald Trump said Sunday U.S. time that the deal with Iran was “done,” while Pakistani Prime Minister Shehbaz Sharif said the agreement would be formally signed in Switzerland on Friday. Still, the deal appears closer to a preliminary framework or memorandum of understanding than a final peace agreement. Core issues, including Iran's nuclear program, sanctions relief and frozen assets, are expected to be addressed in follow-up negotiations during a 60-day ceasefire. For Korean markets, the immediate impact came through oil, the dollar and U.S. Treasury yields rather than a direct shift in Federal Reserve expectations. Lower oil prices eased inflation concerns, while weaker U.S. yields helped support domestic bonds and reduced upward pressure on the dollar-won rate. The move also eased some of the market's tightening concerns ahead of this week's Federal Open Market Committee (FOMC) meeting. The framework is not enough on its own to revive expectations for rate cuts this year, but it is helping reduce the perceived risk of a rate hike later in 2026. The Federal Reserve is widely expected to keep the federal funds rate unchanged at the current 3.50 to 3.75 percent range this week, leaving investors focused on its updated economic projections and dot plot. The March dot plot had pointed to one 25-basis-point cut by year-end, but expectations had turned more hawkish before the U.S.-Iran framework was announced, as higher oil prices and strong U.S. employment data raised concerns over renewed inflation pressure. After the strong jobs data released on June 5, futures markets raised the implied probability of a December rate hike to about 68 percent. According to Reuters, markets on Monday put that probability at around 48 to 50 percent, down from the 69 to 70 percent range seen a week earlier. The baseline after the agreement is therefore less a dovish pivot than an easing of hawkish pressure. The median dot in the June projections may still point to rates being held through year-end, but the case for higher dots that imply a rate hike in late 2026 has weakened. Markets are stripping out part of the Middle East inflation premium for now, but the agreement has yet to be formally signed and key issues remain unresolved. If the framework falters, oil prices and inflation risks could quickly return to the center of the FOMC debate, putting renewed pressure on the won and South Korean bonds. 2026-06-15 17:23:17 -
World Cup 26: Asia stays unbeaten, Africa makes early mark SEOUL, June 15 (AJP) - The opening week of the 2026 FIFA World Cup has delivered an early message: the gap between traditional soccer powers and emerging nations is narrowing. Teams from the Asia-Pacific region remain unbeaten, while several African sides have shown they can challenge higher-ranked opponents, suggesting the tournament may no longer be dominated exclusively by Europe and South America. Japan produced the biggest statement so far, fighting back twice to secure a 2-2 draw against the Netherlands, one of the pre-tournament favorites, in Arlington, Texas, on Sunday local time. Captain Virgil van Dijk gave the Dutch an early lead, but Keito Nakamura quickly equalized for Japan. Crysencio Summerville restored the Netherlands' advantage before Daichi Kamada grabbed a late equalizer after Koki Ogawa's header deflected off him. The result reinforced Japan's growing reputation as Asia's benchmark team. Ranked 18th in the world, Japan entered the tournament after beating Brazil 3-2 and England 1-0 in warm-up matches. Holding the 10th-ranked Netherlands added further evidence that Hajime Moriyasu's side belongs among the tournament's dark horses. Perhaps more importantly, Japan finished the stronger side after spending long stretches defending, validating Moriyasu's pre-tournament pledge that his team would impose its own style rather than simply react to opponents. Australia also delivered a notable result, defeating Turkey 2-0 at BC Place in Vancouver. Despite facing a squad led by Arda Guler and Hakan Calhanoglu, the Socceroos remained disciplined before capitalizing on their opportunities. Nestory Irankunda opened the scoring in the first half before Connor Metcalfe doubled the advantage after the break. The victory marked Australia's first opening-match win at a World Cup since Germany 2006. South Korea had already contributed to Asia's impressive start by overcoming Czechia 2-1 on opening day. After Ladislav Krejci put Czechia ahead early in the second half, Hwang In-beom sparked the comeback with a composed finish before setting up Oh Hyeon-gyu's winner. Unlike previous generations, the continent's leading teams arrived with legitimate expectations. Japan's starting lineup consisted entirely of Europe-based players, while both South Korea and Australia entered the tournament ranked above their opening opponents. The most unexpected result, however, came from Qatar. The Gulf nation earned the first World Cup point in its history by drawing 1-1 with 19th-ranked Switzerland. Switzerland took the lead in the 17th minute when Breel Embolo converted a penalty after goalkeeper Mahmoud Abunada was adjudged to have fouled Remo Freuler. The decision quickly became one of the tournament's first major controversies, with Qatar arguing Freuler had been offside before chasing Embolo's initial header. Qatar nevertheless found an equalizer deep into stoppage time when captain Boualem Khoukhi's header took a deflection before crossing the line. Asia's performance could improve further, with Iran, Saudi Arabia, Iraq, Jordan and Uzbekistan yet to play their opening matches. Africa has produced a more mixed start but has also shown signs of growing competitiveness. Morocco held Brazil to a 1-1 draw after Ismael Saibari's opener before Vinicius Jr. rescued a point for the five-time champions. Ivory Coast then secured Africa's first victory of the tournament, defeating Ecuador 1-0 thanks to Amad Diallo's dramatic 90th-minute winner. There have also been setbacks. South Africa suffered a 2-0 defeat to hosts Mexico after being reduced to nine men, while Tunisia endured a heavy 5-1 loss to Sweden. Yet Africa's strongest contenders are still to come. Senegal, Algeria and Ghana have yet to make their tournament debuts, while Egypt will seek its first-ever World Cup victory despite being Africa's most successful nation in Africa Cup of Nations history. If the opening week is any indication, the 2026 World Cup may become a showcase for a broader shift in global football. Europe and South America remain the favorites, but teams from Asia-Pacific and Africa increasingly look capable of turning matches that once seemed predictable into genuine contests. 2026-06-15 15:29:50 -
Korea's permanent payroll falls for the first time in 26 years on youth job crisis SEOUL, June 15 (AJP) -South Korea's permanent payroll fell for the first time in more than 26 years in May, underscoring a deepening employment crisis among younger workers as demographic decline, industrial restructuring and the early impact of artificial intelligence weigh on hiring. The number of permanent employees stood at 16.74 million in May, down 7,000 from a year earlier, according to the Ministry of Data and Statistics. It marked the first year-on-year decline since December 1999, when the economy was still reeling from the Asian financial crisis. Permanent employees are wage workers expected to remain employed for at least one year and are widely regarded as the closest proxy for stable, regular employment. The decline ended a 316-month expansion streak that had continued uninterrupted since January 2000, surviving even the COVID-19 pandemic. The deterioration was concentrated among younger age groups. The number of permanent jobs held by people in their 20s fell by 164,000 from a year earlier, while those held by workers in their 30s declined by 34,000. Their combined loss of 197,000 marked the steepest decline since December 2020, when the labor market was under severe pandemic pressure. Manufacturing remained the biggest drag. Permanent manufacturing jobs held by workers in their 20s and 30s fell by a combined 92,000, while overall manufacturing employment dropped by 140,000 from a year earlier, extending its decline to a 23rd consecutive month. The latest data also suggested that labor market weakness is no longer confined to traditional factory sectors. Among workers in their 20s, permanent jobs in the information and communications sector fell by 57,000, a larger decline than in manufacturing. By contrast, permanent jobs among workers in their 30s in the same sector rose by 26,000, suggesting that hiring in software development, computer programming and other IT-related fields may be shifting away from entry-level positions toward more experienced workers. The professional, scientific and technical services sector also showed pronounced weakness. Permanent jobs among workers in their 30s in the sector fell by 76,000, the largest decline among major industries for that age group. The category includes research and development, engineering, architecture, legal services and accounting, raising concerns that artificial intelligence may already be weighing on hiring in white-collar and professional occupations, particularly for younger job seekers. The government, however, has stopped short of directly attributing the slowdown to AI. Officials say employment typically lags broader economic conditions and that earlier shocks this year may now be feeding through to hiring decisions. The Ministry of Economy and Finance has also pointed to the prolonged Middle East conflict as a growing risk, citing higher raw material costs and elevated uncertainty for businesses. "We will place the highest policy priority on improving employment conditions for young people and make every possible effort," Deputy Prime Minister and Finance Minister Koo Yun-cheol said during an emergency economic headquarters meeting and a meeting of economy-related ministers last Friday. Koo said the government would closely analyze employment trends by age group and industry, implement immediate measures where necessary and pursue broader institutional reforms over the medium and long term. Earlier this year, the government projected that total employment would increase by 160,000 in 2026, expecting job losses in construction and manufacturing to moderate. The latest figures, however, suggest the recovery is becoming increasingly fragile, with stable jobs for younger Koreans deteriorating across both manufacturing and white-collar industries. Korea's shrinking youth population, rapid automation and accelerating AI adoption are beginning to converge, threatening what had long been considered the safest segment of the labor market: permanent employment. 2026-06-15 09:53:47 -
Won, bonds rally on U.S.-Iran peace hopes SEOUL, June 12 (AJP) - The South Korean won and government bonds strengthened sharply Friday as hopes for an end to the U.S.-Iran conflict eased pressure from oil prices, the dollar and foreign equity outflows. The won-dollar exchange rate closed at 1,519.8 won, down 9.1 won from the previous session, in Seoul’s foreign exchange market. The rate opened 10.9 won lower at 1,518.0 won before trimming part of its decline, but still ended in the 1,510-won range. The move came as investors priced in a possible easing of geopolitical tensions in the Middle East. U.S. President Donald Trump said he had canceled planned strikes on Iran and suggested that talks to end the conflict were in their final stage. The return of foreign investors to Korean equities also helped the won. Foreign investors bought a net 2.1 trillion won worth of shares on the main KOSPI market, turning net buyers for the first time in 25 trading sessions. The shift eased one of the main sources of recent pressure on the Korean currency, as sustained foreign selling of local stocks had added to dollar demand and weighed on the won. The bond market also strengthened sharply. The yield on the three-year government bond fell 9.6 basis points to 3.808 percent, while the 10-year yield dropped 10.5 basis points to 4.195 percent. The declines were the steepest since April 8, when the three-year government bond yield fell 13.6 basis points to 3.315 percent and the 10-year yield dropped 12.6 basis points to 3.628 percent, as hopes for a U.S.-Iran ceasefire combined with foreign buying of Korean bonds following the start of Korea’s World Government Bond Index (WGBI) inclusion. Market reports cited lower oil prices and a decline in U.S. Treasury yields as factors behind Friday’s drop in Korean bond yields. During the session, they sold a net 4,017 contracts of three-year government bond futures while buying a net 3,436 contracts of 10-year government bond futures. 2026-06-12 17:31:45 -
World Cup 26: Veterans steady, newcomers shine in Korea's first win SEOUL, June 12 (AJP) — South Korea's 2-1 comeback victory over Czechia in its opening Group A match at the 2026 FIFA World Cup was not the work of a single star. It was a victory built on balance — experienced leaders delivering in decisive moments while a new generation showed it was ready for football's biggest stage. Head coach Hong Myung-bo's side fell behind in the 58th minute when Ladislav Krejci powered home a header, but recovered through Hwang In-beom's equalizer in the 67th minute before substitute Oh Hyeon-gyu completed the turnaround in the 79th. The result gave South Korea its first World Cup opening-match victory since 2010 and offered an encouraging glimpse of a squad capable of combining experience with emerging talent. At the center of the comeback was Hwang. Questions lingered before the tournament after an injury-interrupted season at Feyenoord limited his playing time, but the midfielder answered them emphatically with a goal and an assist. For the equalizer, Hwang timed his run perfectly onto Lee Kang-in's through pass before showing composure to beat both the defender and goalkeeper. Twelve minutes later, he delivered a low cross from the right that Oh converted for the winner. The performance carried historical significance. Hwang became the first South Korean player to record both a goal and an assist in a World Cup match since Hong himself achieved the feat at the 1994 World Cup in the United States — 32 years before guiding Korea from the touchline in Guadalajara. FIFA later named Hwang Player of the Match. Behind him, goalkeeper Kim Seung-gyu provided the foundation for victory. After conceding from a set-piece situation, Kim recovered to produce a series of crucial saves as Czechia pushed for an equalizer. His sharp reflex stop from close range in the closing stages preserved Korea's lead and effectively secured all three points. The save left such an impression that Czechia coach Miroslav Koubek highlighted it afterward as one of the decisive moments of the match. While the veterans provided stability, several younger players delivered performances that suggested Korea's future may be arriving sooner than expected. Few carried greater responsibility than Lee Gi-hyuk. The defender entered the match with only three senior international appearances, two of them in pre-World Cup friendlies, yet found himself starting alongside Kim Min-jae and Lee Han-beom in a back three against Czechia's physically imposing attack. An early mistake briefly threatened to hand Czechia an opportunity, but Lee recovered quickly and never appeared overwhelmed by the occasion. Facing a barrage of crosses and long balls, he competed aggressively in the air, recorded eight headed clearances and showed composure in possession, helping Korea build attacks from the back under pressure. If Lee represented Korea's future in defense, Oh delivered the moment that may define the opening match. Introduced in the second half in place of Son Heung-min, the striker needed little time to justify the decision. In the 79th minute, Oh attacked Hwang's low cross and finished decisively to complete Korea's comeback. Against a Czech side that relied heavily on height and physicality, his movement inside the penalty area and instinctive finishing provided Hong with another valuable attacking option heading into the rest of the tournament. Kim Min-jae, meanwhile, quietly played the role expected of him. The Bayern Munich defender organized Korea's back line, guided his younger defensive partners and helped absorb the aerial pressure that Czechia generated throughout the match. Lee Han-beom also passed a significant test. Tasked with handling the intensity of a World Cup opener, the young defender held his ground and contributed to a defensive effort that recovered from an early setback to secure victory. World Cups often reveal whether a team has enough depth beyond its established stars. Against Czechia, South Korea received an encouraging answer. Its veterans delivered when the match demanded leadership. Its younger players responded when the pressure rose. For Hong, that combination may be the most valuable result of all as Korea prepares for a far sterner challenge against Mexico. 2026-06-12 16:59:53 -
World Cup 26: Korea faces first real test against Mexico SEOUL, June 12 (AJP) - South Korea's opening victory over Czechia brought relief, belief and three valuable points. It also brought a reality check. The 2-1 comeback in Guadalajara showed Hong Myung-bo's side possesses the resilience and attacking quality to survive difficult moments. The next match against Mexico will reveal whether it can thrive against a team many expect to challenge for top spot in Group A. Both nations opened their World Cup campaigns with victories on Thursday. Korea recovered from a goal down to defeat Czechia, while Mexico dispatched South Africa 2-0 with the efficiency expected of a host nation playing before a partisan crowd. The reward is an early heavyweight clash. When the teams meet at Guadalajara Stadium on June 18 local time (10 a.m. KST on June 19), the winner will take a commanding position in the group and move within touching distance of the knockout stage. For Korea, the Czechia match provided a blueprint as well as a warning. Hong's side struggled whenever the game became physical. Czechia's aerial threat, long throw-ins and set pieces repeatedly tested a Korean defense that looked uncomfortable when forced into direct confrontations. Ladislav Krejci's opening goal, arriving from a long throw and a powerful header, exposed a vulnerability that stronger opponents will have noted. Yet Korea's response revealed its greatest strength. Rather than matching Czechia's physicality, Korea accelerated the game. Hwang In-beom's equalizer came from a penetrating run and quick combination play. Oh Hyeon-gyu's winner followed another swift attacking move, with Korea exploiting space before Czechia could reorganize. The lesson was clear: Korea is at its most dangerous when the ball moves quickly and defenders are forced to turn and chase. Mexico presents an entirely different challenge. Where Czechia sought to dominate through size and aerial pressure, Mexico prefers to control territory, possession and tempo. Against South Africa, the hosts looked comfortable dictating where the game was played, stretching the field through wide areas before striking at decisive moments. Julian Quinones opened the scoring after a South African error, and Raul Jimenez sealed the victory with a trademark header. It was not a spectacular performance, but it was a professional one — the kind often associated with teams that expect to advance deep into tournaments. For Korea, that changes the defensive equation. The concern is no longer long throw-ins arriving every few minutes. Instead, it is Mexico's ability to pin opponents back, circulate possession and create overloads in wide areas. Jimenez remains a dangerous target in the penalty area, but the greater threat may come from the movement around him. If Mexico can stretch Korea's shape and force the back line to retreat toward its own goal, the hosts will gradually gain control of the match. There is, however, an opening. Mexico will be without central defender Cesar Montes after his late red card against South Africa. Montes is one of the side's defensive leaders and an important presence in both penalty areas. His absence forces coach Javier Aguirre to reshuffle a back line that looked settled in the opening match. Should defensive midfielder Edson Alvarez drop into central defense, Mexico would retain experience and physicality but potentially lose some authority in midfield. That is precisely where Korea's most influential players operate. Lee Kang-in's creativity between the lines, Hwang In-beom's late runs and Lee Jae-sung's intelligent movement could become increasingly important if Mexico's midfield structure is altered. Son Heung-min, meanwhile, will relish any opportunity to attack space behind an unfamiliar defensive partnership. The tactical question facing Hong may be whether to embrace caution or ambition. A compact mid-block would help Korea remain organized and invite opportunities to counterattack through Son, Hwang and Lee Kang-in. Yet surrendering territory to Mexico carries obvious risks, particularly against a side comfortable building pressure over long stretches. An open game, on the other hand, could favor Korea's pace and movement but would expose a defense that occasionally looked vulnerable against Czechia. The balance between those two approaches may decide the match. History suggests Mexico should be favored. The hosts are playing in familiar conditions, backed by enormous support and carrying greater tournament expectations. Opta gives Mexico a 49.2 percent chance of victory, compared with Korea's 25.8 percent. But World Cups are rarely decided by probabilities. Korea arrives with momentum, confidence and the knowledge that it has already overcome adversity once in Guadalajara. Against Czechia, it showed character. Against Mexico, it will discover how far that character can take it. By Friday morning in Seoul, Group A may look very different. 2026-06-12 15:59:11