Journalist
Ryu Yuna류윤아
Julia37@ajupress.com
ReporterFinancial Supervisory Service (FSS) & finance, capital markets, Southeast Asian affairs
Yuna Ryu covers finance, capital markets and Southeast Asian affairs.
She is drawn to the questions that numbers raise and the stories that data alone cannot answer.
Prior to journalism, she worked at Hyundai Motor Company and the Singapore Chamber of Commerce, focusing on business strategy and international affairs. She has also hosted diplomatic receptions and international conferences as an MC.
Ryu holds a master's degree in Media and Communication from Korea University, where her research focused on neuroscience-based studies of media effects. "Beyond every statistic is a human story waiting to be heard."
She is drawn to the questions that numbers raise and the stories that data alone cannot answer.
Prior to journalism, she worked at Hyundai Motor Company and the Singapore Chamber of Commerce, focusing on business strategy and international affairs. She has also hosted diplomatic receptions and international conferences as an MC.
Ryu holds a master's degree in Media and Communication from Korea University, where her research focused on neuroscience-based studies of media effects. "Beyond every statistic is a human story waiting to be heard."
Latest by Ryu Yuna
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Musk mania survives IPO miss as Koreans pour $800 million on SpaceX debut SEOUL, June 17 (AJP) - An Elon Musk-linked stock has once again become a favorite among South Korean retail investors. Despite missing out on SpaceX’s initial public offering, Korean individual investors poured more than $800 million into the company on its Nasdaq debut, making the space company one of the most aggressively bought foreign stocks in Korean market history. According to data compiled from 11 brokerages, including Mirae Asset Securities, Korea Investment & Securities and Toss Securities, Korean retail investors made net purchases of 1.23 trillion won ($810 million) in SpaceX shares on June 12, the day the company began trading on Nasdaq. The buying spree was among the largest single-day overseas stock purchases ever recorded by Korean retail investors. The amount was more than 30 times the day’s second-largest overseas net purchase, ProShares UltraPro QQQ, a triple-leveraged ETF tracking the Nasdaq-100, which drew $24.9 million. Korean retail investors bought about $834.6 million worth of SpaceX shares while selling $38.7 million, according to the Korea Securities Depository’s Seibro portal. SpaceX priced its IPO at $135 per share. The stock opened at $150, rose as high as $176 intraday and closed its first session at $161.11, up 19.3 percent from the offering price. Based on the closing price, Korean retail investors bought roughly 5 million shares in a single day, placing SpaceX as the top 30 most-held U.S. stocks among Korean retailers. Their bet proved right so far as SpaceX's epic rise has rewritten the leaderboard in a matter of days, catapulting the company to the world's fifth-most valuable listed company by Tuesday, with shares ending at $192.68. The frenzy followed an earlier wave of pivot to the space sector. Before SpaceX’s listing, Korean investors had poured more than $316 million over the previous month into the Tema Space Innovators ETF, a U.S.-listed space technology fund widely seen as a proxy play on SpaceX before its debut. For many Korean investors, SpaceX is no longer just a space company. It is increasingly viewed as a long-term bet on artificial intelligence, satellite infrastructure and the future of technology. Missing out on the IPO appears to have done little to cool that enthusiasm. SpaceX is the latest chapter in South Koreans' long-running Musk trade. Tesla remains their top overseas holding at $24.17 billion as of June 11. 2026-06-17 11:28:10 -
Impending peace deal with Iran lifts KOSPI as Nikkei briefly tops 70,000 SEOUL, June 16 (AJP) - South Korean stocks extended their rally on Tuesday as hopes for an impending peace deal between the U.S. and Iran later this week, along with SpaceX’s blockbuster Nasdaq debut, boosted investors’ appetite. Despite missing out on the record-breaking initial public offering (IPO), South Korean investors continued betting on artificial intelligence (AI), aerospace, and other growth sectors. Japan’s main index, meanwhile, briefly crossed the 70,000 mark for the first time. In Tokyo, the Nikkei 225 edged up 0.13 percent to 69,404.50 after briefly topping the 70,000 mark and setting an all-time high. The move came after the Bank of Japan voted 7-1 to raise its benchmark policy rate to 1 percent, the highest level since 1995. In Seoul, the benchmark KOSPI closed up 2.11 percent at 8,726.60 points, building on the previous session's gains as easing geopolitical tensions lowered oil prices and improved sentiment toward risk assets across Asia. The junior KOSDAQ, however, moved in the opposite direction, falling 1.48 percent to 1,018.68 as investors continued rotating away from smaller growth stocks into large-cap market leaders. In the currency market, the South Korean won weakened slightly against the U.S. dollar, closing at 1,511.6 won. SpaceX's blockbuster Nasdaq debut remained in focus. The stock closed at US$192.50 on Monday, up 42.6 percent from its IPO price of $135, lifting its market capitalization to about $2.5 trillion and making it the world's sixth-most valuable company. The company’s rapid rise has boosted investor interest in its long-term growth prospects. Global retail demand exceeded $100 billion, with Japan receiving about $2.2 billion worth of share allocations. South Korean investors, however, were left empty-handed after shares initially earmarked for Mirae Asset Securities were withdrawn in the final allocation process. Samsung Electronics rose 1.78 percent to 343,000 won, while SK hynix climbed 4.11 percent to 2,382,000 won, SK Square surged 6.23 percent to 1,501,000 won, making it one of the strongest performers among large-cap stocks. The buying extended beyond technology into aerospace and defense. Hanwha Aerospace delivered one of the strongest gains of the day, jumping 9.13 percent to 1,183,000 won as investors continued betting on long-term growth in the global aerospace and defense industries. Banking-related shares also attracted investors after data showed lending grew sharply last month, raising hopes for stronger earnings. According to the Bank of Korea, household loans at commercial banks including mortgages, increased by 6.9 trillion won in May to 1,181.8 trillion won, marking the biggest monthly increase since August 2024. KB Financial Group rose 1.42 percent to 172,000 won after earlier touching a record high of 182,700 won during intraday trading. Other major lenders followed suit, with Shinhan Financial Group up 1.04 percent to 106,700 won, and Hana Financial Group climbing 2.09 percent to close at 132,000 won. The gains in Korea and Japan mirrored a strong overnight rally on Wall Street, where investors welcomed signs of easing tensions between the United States and Iran. Lower oil prices and fading geopolitical risks boosted appetite for technology and growth stocks globally. The Dow Jones Industrial Average rose 0.92 percent, the S&P 500 gained 1.65 percent, while the Nasdaq Composite surged 3.07 percent. The Philadelphia Semiconductor Index jumped 5.45 percent, reinforcing optimism toward chipmakers and artificial intelligence-related shares across Asia. However, not all Asian markets responded the same way. China's Shanghai Composite was little changed, slipping 0.11 percent to 4,091.89. Yet beneath the flat headline index, investors continued pouring money into strategic industries. Xiamen Tungsten hit the daily limit of 10 percent as investors bet on rising demand for strategic metals essential to semiconductors and high-tech industries, while optical technology company Focuslight Technologies gained nearly 4 percent. Hong Kong's Hang Seng Index underperformed regional peers, falling 1.68 percent to 24,424.27. 2026-06-16 17:25:37 -
Thailand bets on medical field and startups to deepen Korea ties SEOUL, June 16 (AJP) - Thailand is placing the medical field, startups and cultural exchange at the center of its partnership with South Korea, unveiling a series of initiatives aimed at expanding bilateral cooperation into healthcare, innovation and other future growth industries. The plans were outlined Tuesday during a media briefing hosted by Tanee Sangrat, Thailand's ambassador to South Korea, at the Royal Thai Embassy in Seoul's Yongsan district. The embassy announced five flagship events over the coming weeks, including a new startup and innovation hub, Thailand's flagship cultural festival in Seoul, the largest-ever Thai art exhibition in Korea, a high-level diplomatic visit and a healthcare-focused business forum. The first event will be the launch of the Seoul-Thailand Startup & Innovation Space (STSiS) on Wednesday at the Thai Ambassador's residence in Seoul. The initiative is designed to connect Thai and Korean entrepreneurs, innovators and investors while promoting cooperation in technology, innovation and the digital economy. The launch ceremony will bring together startup founders, business representatives and policymakers, followed by a networking luncheon aimed at fostering new partnerships. "If you are in the startup ecosystem, if you are an innovator, you will be interested in STSiS," the envoy said, describing the initiative as a platform for entrepreneurs and innovators seeking opportunities in both countries. The embassy will also host the Sawasdee Seoul Thai Festival 2026 on June 20 and 21 at Cheonggye Plaza in central Seoul and along the Cheonggyecheon stream under the theme "Creative Life, Creative Heartbeat." The two-day festival will feature Thai cuisine, T-Pop and traditional cultural performances, arts and crafts exhibitions, tourism promotions, traditional costume experiences and complimentary Thai massage sessions. Asked which of the upcoming events he would most recommend to Korean visitors, Tanee pointed to the festival as the most accessible introduction to Thai culture. "For the general public, the festival would be the most enjoyable," the ambassador said. Another major cultural event will be "Amazing Thailand: Masterpieces of Thai Art," described by the embassy as the first major Thai cultural exhibition at the National Museum of Korea. The exhibition will open on June 22, with the public exhibition running from June 23 through Sept. 6. It will feature more than 200 artifacts spanning from prehistoric periods to the mid-20th century, marking the first large-scale showcase dedicated to Thai culture ever held in Korea. Highlights include Buddhist art, royal treasures and traditional crafts curated as a premium cultural exchange program. After its Seoul run through Sept. 6, the exhibition will travel to Tongdosa Temple, one of Korea's most renowned Buddhist temples located in South Gyeongsang Province. Sangrat paid particular attention to the exhibition's collection of Chut Thai, Thailand's traditional attire, which will be displayed with explanations at the museum. "People interested in Thai culture will find the exhibition very interesting," he said, adding: "Our traditional dresses, Chut Thai, are much more elaborate and much more beautiful." The embassy is also preparing for the July 3 working visit to South Korea by Thailand's Deputy Prime Minister and Foreign Minister Sihasak Phuangketkeow, which will coincide with the 68th anniversary of diplomatic relations between the two countries. The visit is expected to focus on expanding bilateral cooperation, including a meeting with South Korean Foreign Minister Cho Hyun to discuss diplomatic, economic and strategic issues of mutual interest. Looking further ahead, Thailand will host the Korea-Thailand Business Forum on July 22 at Lotte Hotel Seoul, focusing on four high-growth sectors: biohealth, medical technology, wellness and future food. The one-day forum will bring together senior business leaders, government officials and industry experts from both countries to explore new investment opportunities and industrial partnerships. "Hopefully, we can facilitate business," The ambassador said. "This is the first time we have decided to focus on the medical field." He added that the decision to focus on healthcare marks a new direction for bilateral business cooperation. The forum aims to catalyze new partnerships, investment pledges and business-to-business matchmaking sessions, supporting Thailand's 'Thailand 4.0' strategy and Korea's bio-medical innovation agenda. "If you are in the medical field, wellness, or even the food segment, the business forum in July will be of interest to you," Sangrat said. The initiatives reflect Thailand's broader strategy of deepening engagement with South Korea through innovation, culture and emerging industries, reinforcing a bilateral partnership that has grown steadily in recent years. 2026-06-16 13:43:14 -
Eight out of 10 Korean workers fear of falling behind in AI race SEOUL, June 16 (AJP) - Reflecting the rapid transformation trend that is sweeping across various kinds of workplaces globally, eight out of ten workers in South Korea fear being left behind in the era of artificial intelligence, a report by the global software and technology company Microsoft showed on Monday, The report, Microsoft's 2026 Work Trend Index, based on a survey of 20,000 workers from 10 countries, highlights what Microsoft describes as a "transformation paradox." Workers are ready for AI-driven change, but corporate structures, management practices and incentive systems remain largely unchanged. According to the report, 78 percent of Korean workers said that they worry about being left behind if they do not adapt to using AI, significantly higher than the global average of 65 percent. Among the countries surveyed, only Brazil recorded a higher figure at 79 percent. Yet confidence in corporate leadership was far weaker. Only 16 percent of Korean respondents said management provides a clear vision for how AI should be used within the organization, compared with a global average of 26 percent. 7 percent said employees are rewarded for using AI to improve their work, roughly half the global average and the lowest among major economies surveyed. The figure trailed Japan at 8 percent, Germany and the Netherlands at 10 percent, and the United States at 15 percent. The disconnect suggests many employees feel pressure to adopt new technologies while continuing to be evaluated under traditional performance frameworks. Other findings pointed to a similar reluctance to embrace change. About 43 percent of Korean respondents said maintaining existing goals and work processes feels safer than experimenting with new approaches, indicating that employees may see little incentive to take risks despite growing expectations to innovate with AI. Microsoft said organizational factors such as workplace culture, management support and talent development policies account for 67 percent of successful AI adoption outcomes, more than double the impact of individual motivation and skills, which represented 32 percent. The report argues that companies achieving the greatest gains from AI are not simply deploying new tools but systematically embedding employee experiences and best practices into broader organizational workflows. Among Korean workers, the top 12 percent of employees who use AI most extensively were found to treat AI less as a productivity tool and more as a collaborative partner, redesigning workflows and decision-making processes around the technology. However, the figure remains below the global average of 16 percent. Looking ahead, the company expects AI agents to handle more routine and repetitive work, leaving human workers to focus on judgment, verification and setting priorities. The survey was based on responses from 20,000 knowledge workers across 10 countries, including the United States, Britain, Germany, France, Italy, Japan, India, Australia, Brazil and the Netherlands, supplemented by additional research conducted in South Korea. 2026-06-16 09:49:48 -
SK's Chey, ex-wife Roh fail to reach settlement in billion-dollar divorce battle SEOUL, June 15 (AJP) - SK Group Chairman Chey Tae-won and his estranged wife Roh Soh-yeong failed to reach a settlement Monday in their closely watched billion-dollar divorce dispute, facing each other in court for the first time in more than two years. The Seoul High Court's family division held a second court-led mediation session at 2 p.m. as part of the remand trial ordered by the Supreme Court. Despite expectations that both sides would begin substantive discussions on the division of assets, the mediation ended without an agreement. Their appearance marked the first time the two had faced each other in court since the final appellate hearing in April 2024, more than two years ago. At the first mediation session held in May, Roh appeared in person while Chey was represented by his legal team. Before entering the courthouse, Chey expressed hope the long-running dispute would soon come to an end. "I hope the mediation can be successfully concluded and the case can be wrapped up quickly," he said. Roh arrived several minutes earlier but declined to answer questions from reporters regarding the possibility of a settlement or whether either side was prepared to compromise. After the mediation session concluded, Chey left the court without commenting on the result. He boarded a waiting vehicle without responding to reporters' questions about the negotiations. The mediation centered on whether Chey's holdings in SK Inc., the holding company of SK Group, should be included in the marital estate and how those shares should be valued. Chey's legal team argues that the shares are separate property acquired through inheritance and gifts, while Roh maintains that her contributions to child-rearing and family life helped support the growth of SK Group and should entitle her to a share of the assets. Following the failed talks, the court resumed formal proceedings and scheduled the next hearing for June 26. The case returned to the Seoul High Court after the Supreme Court last year partially overturned an appellate ruling awarding Roh 1.38 trillion won ($1 billion) in property division, one of the largest divorce settlements in South Korean history. While upholding the couple's divorce and a separate 2 billion won ($1.4 million) alimony award, the Supreme Court ordered the lower court to reconsider the property division, ruling that funds linked to former President Roh Tae-woo could not be counted as Roh's contribution to the accumulation of SK Group's wealth. 2026-06-15 17:09:36 -
Mirae Asset faces investor fury and probe after SpaceX IPO allocation failure SEOUL, June 15 (AJP) — South Korea's second-largest brokerage house Mirae Asset Securities is under fire after failing to secure any shares in the blockbuster initial public offering of SpaceX, leaving Korean investors empty-handed in one of the world's most coveted listings. "Pathetic," one investor wrote on Mirae Asset's online forum. "Run before you get burned," another wrote Monday, referring to Mirae Asset Securities' own share price, which fell about 2 percent despite a 5.5 percent rally in the benchmark KOSPI. The backlash has quickly widened into a regulatory issue. The Financial Supervisory Service has launched an inspection into why Mirae Asset failed to receive shares that had been expected for Korean investors and whether the brokerage properly warned clients that final allocations could be reduced or canceled. According to investment banking sources, SpaceX had initially been expected to allocate 2,314,815 Class A common shares to Mirae Asset out of 555,555,555 shares sold in the offering. But Goldman Sachs, the lead underwriter, reportedly excluded Mirae Asset and some other syndicate members from the final distribution. The failure stunned Korean investors, who have become among the world's most aggressive retail buyers of U.S. stocks and had viewed SpaceX as a rare chance to enter a global AI, defense and space infrastructure play at the IPO stage. As of June 11, South Koreans owned $190.2 billion in U.S. equities, of which Tesla shares make up $24.1 billion worth. Mirae Asset has refunded subscription deposits in full, but investors may still have suffered losses from currency conversion, overseas remittance and refund procedures. Some deposits were converted into dollars when the won-dollar rate was around 1,530, while refunds were returned when the rate had moved closer to 1,510, raising the possibility of foreign-exchange losses. The FSS is also examining whether Mirae Asset sufficiently disclosed allocation risks, whether there was exaggerated marketing, and whether the brokerage had understood in advance that it might fail to receive any shares. A key issue is regulatory approval. Industry officials said Mirae Asset's failure to obtain clearance from Korean financial authorities may have made global underwriters reluctant to allocate shares to the brokerage. Korea requires securities registration documents to be submitted at least 15 business days before a public offering to general investors, but SpaceX followed U.S. IPO rules and filed roughly a week before listing. Mirae Asset later shifted the subscription from a public offering for general investors to a private placement for professional investors, but industry officials said the change may not have been fully coordinated with global advisers. In contrast, Mizuho Securities, which secured approval from Japanese regulators, reportedly received about $2.2 billion worth of SpaceX shares, or roughly 3 percent of the offering. The controversy has also spread to exchange-traded funds. Some asset managers had promoted plans to include SpaceX IPO shares secured through Mirae Asset in their ETFs. When the allocation failed, at least one fund reportedly bought SpaceX shares in the market on listing day, potentially at prices well above the $135 IPO price. Regulators are expected to examine whether ETF investors were disadvantaged as a result. The FSS is also expected to review possible conflict-of-interest issues after reports that Mirae Asset Group affiliates participated separately with proprietary capital and received SpaceX shares through a U.S.-based institutional channel. Those shares were separate from the failed client subscription, but the situation has raised questions over whether group interests and client interests were properly managed. Mirae Asset apologized to clients for failing to meet expectations. "We apologize for the inconvenience and for failing to meet the expectations of customers who waited a long time for the subscription results," the company said in a notice. The case is drawing heightened attention because it comes before a possible wave of U.S. mega-listings involving artificial intelligence companies such as Anthropic and OpenAI. Financial authorities see the SpaceX failure as a test case for how Korean brokerages should handle overseas IPO access for local investors. An FSS official said the regulator needs to thoroughly examine what happened because investor protection will become increasingly important as more Korean capital seeks access to global IPOs. 2026-06-15 14:49:58 -
After Hormuz relief, KOSPI's next target is developed-market status SEOUL, June 15 (AJP)-With the Gulf crisis moving toward resolution, South Korea's stock market faces next test: whether a chip-led rally can carry the KOSPI from one of the world's best-performing markets to a developed-market benchmark. Semiconductors can lift the index. They cannot, by themselves, make Korea a developed market. The KOSPI has surged 92.8 percent since end-2025, far outpacing Taiwan's 52.5 percent gain, Japan's 31.1 percent rise and the Dow's 6.5 percent advance. Yet the same data reveal why Korea's case remains complicated: the market has delivered developed-world scale and technology leadership with emerging-market volatility and unstable foreign flows. The war-risk discount is now easing. A planned U.S.-Iran memorandum of understanding on Friday could reopen commercial traffic through the Strait of Hormuz and reduce the oil premium that has weighed on Korea, which imports roughly 70 percent of its crude from the Middle East. Oil prices and the won have already moved in response, allowing investors to refocus on earnings. Yuanta Securities on Monday said the removal of war risk has confirmed the return of foreign investors. Overseas buyers returned to Korean shares for two consecutive sessions after weeks of selling, concentrating on large-cap semiconductor names. As of 1:40 p.m., the KOSPI was up 5.3 percent at 8,554.98, with foreign investors turning net buyers of 638 billion won and extending Friday's purchases of 2.7 trillion won. The buying marks a sharp reversal from a near-uninterrupted selling spree that ran from May through Thursday, during which foreigners offloaded 51.5 trillion won worth in KOSPI in May and a further 27.2 trillion won in June. Yuanta attributed the shift to easing geopolitical tensions, reduced won-dollar volatility and the end of SpaceX-related liquidity migration. The shift in foreign flows comes with one week to spare before MSCI delivers its annual market-classification verdict on June 23, but industry watchers say MSCI's developed-market watch-list decision on won't be settled by Samsung Electronics and SK hynix alone. Korea has long sought developed-market status. MSCI removed the country from its developed-market watch list in 2014, citing restrictions on currency trading and other market-access issues. Last year, the index provider again pointed to shortcomings in foreign-exchange reforms and compliance burdens on overseas investors. Since then, Korea has resumed short selling and is preparing to launch extended won trading hours in July, two reforms long demanded by global investors. Compared with Japan, Korea has the earnings momentum but not yet the market structure. Japan's rerating was powered not only by technology and exporters but by years of exchange-led reform, broader shareholder returns and a deeper base of long-term global capital. Korea's value-up campaign is moving in the same direction — but it is younger and less tested. Korean stocks still trade well below Japanese, Taiwanese and American peers, even as chips, shipbuilding, banks, autos and power equipment deliver stronger earnings. Developed-market status, however, requires more than cheap valuations and high returns. The real checklist is market access, currency convertibility, short-selling normalization, settlement reliability, foreign-investor convenience, governance and shareholder protection. Korea has made progress, but MSCI will want evidence that reforms are durable, not cyclical. Korea's strongest argument is that it is no longer simply an emerging-market proxy. It is a core AI supply-chain market with global-scale companies, record earnings and a growing shareholder-return culture. Its weakest point is that the rally remains too concentrated and too volatile. Just last week, the KOSPI has swayed 4 to 8 percent daily from 7,484.41 to 8,123.62. After Hormuz, the KOSPI may have enough fuel to test 9,000. To reach developed-market status, Korea must prove it can look less like a spectacular trade and more like a stable market. 2026-06-15 14:08:09 -
For BTS fans, following them 'Into the Sun' is worth every second — even 3 months SEOUL, June 12 (AJP) — While much of South Korea was painted red in celebration of the national football team's opening victory at the 2026 FIFA World Cup, the country's second-largest city turned purple as BTS fans flooded Busan for a two-day concert marking the group's 13th anniversary. For many ARMY members, the concerts were more than another stop on BTS's world tour. They marked an emotional return to the very venue where the group bid farewell before answering the nation's call for military service four years ago. Fans arrived from every corner of the globe. Some, however, had barely left South Korea since BTS launched its comeback year with a special event in Seoul in March. "It feels unreal," said Vuyo Matiwane, 36, from South Africa. "It's been almost three months of waiting, but I'm just as excited as I was for the comeback live event and the first tour concerts in Goyang." Matiwane chose to remain in South Korea after attending BTS's Gwanghwamun event in March and the group's opening concerts in Goyang in April. She said the wait for Busan had felt endless, making it difficult to believe the anniversary weekend had finally arrived. Hours before showtime, Busan was already buzzing with anticipation. Fans filled hotels, shopping districts and tourist landmarks as the city prepared for BTS's return. "The atmosphere in Busan is amazing," Matiwane said. "The city is buzzing with 'ARIRANG.' Every corner is painted in shades of purple and themed around the tour. ARMY from all over the world are here." Matiwane had also visited Busan for BTS FESTA last year while the members were completing their military service. The experience was memorable despite the group's absence, she said, making this year's anniversary celebrations even more meaningful. "I'm excited and emotional at the same time," she said. "I think what ARMY means to BTS and what BTS means to ARMY is not a feeling that can easily be put into words." Asked what she would say to BTS if given the chance, Matiwane delivered a message on behalf of fans in her home country. "South Africa is eagerly waiting for its turn to have a concert," she said. "Until then, I'll follow you 'Into the Sun.'" For some fans, even not having a ticket was not enough to keep them away from Busan. "A lot has changed in my life over the past 13 years, but BTS has been a constant," said Liu, a Singaporean fan in her 30s. "That's why being in Busan for this anniversary feels emotional." Moreau, 29, from France, said Busan felt different from any BTS concert experience he had encountered in Europe. "I've attended several BTS concerts, but coming to Busan feels like experiencing the heart of the fandom," he said. "The excitement throughout the city is unlike anything I've ever seen." Moreau said BTS's music helped him gain confidence when he was younger, making the journey particularly meaningful. "Looking around the stadium, I see people of every age and background sharing the same joy," he said. "It's proof that music can bring the world together in a very real way." For Olivia Bennett, 24, from the United Kingdom, visiting South Korea for BTS had long been a dream shared by many international fans. "Busan is full of people from different cultures, yet everyone seems connected through the same music," she said. Bennett said BTS's messages of hope, self-acceptance and resilience were reflected in the diversity and openness of the fan community. "I've made friends here from countries I've never even visited before," she added. Anticipation had also been building online. After a fan-run BTS news account shared a preview video of the stage setup at Busan Asiad Main Stadium, social media quickly filled with messages of excitement. "Nostalgia is hitting," one fan wrote, recalling BTS's 2022 performance at the same venue before the members began military service. Another commented: "If the stage lights are half as bright as that renovation, we'll need sunglasses in Busan. Can't wait to see BTS turn a stadium into a concert galaxy." The Busan concerts come amid the global success of BTS's fifth studio album, "ARIRANG," which recently spent a third consecutive week atop the Billboard 200 chart. For the fans who traveled thousands of kilometers — and for some, waited nearly three months across multiple Korean cities — the weekend represents more than another concert or another chart milestone. It is a celebration of BTS's 13-year journey and a reminder of the bond that continues to connect millions of fans across generations, cultures and continents. 2026-06-12 15:41:05 -
SpaceX buzz, ceasefire hopes send KOSPI soaring back above 8,000 SEOUL, June 12 (AJP) - The KOSPI once again proved one of the world's most volatile major stock indexes, surging more than 7.6 percent Friday morning as hopes for a Middle East ceasefire and excitement surrounding SpaceX's Nasdaq debut sparked a broad-based rally in technology shares. As of 10:57 a.m., the benchmark KOSPI was up 7.76 percent at 8,366.47 after opening 6.44 percent higher. The index earlier jumped as much as 8.50 percent to 8,424.13. The sharp advance triggered a buy-side sidecar shortly after the opening bell, underscoring the extraordinary swings that have gripped Korean equities this week. Investors also cheered news that Hanmi Semiconductor plans to invest 50 billion won ($37 million) in SpaceX, the world's largest private space company, ahead of its Nasdaq debut on Friday later in New York. The move reinforced enthusiasm for AI infrastructure, advanced semiconductors and space-related growth themes, sending Hanmi Semiconductor shares soaring more than 14 percent. Risk appetite was further boosted after U.S. President Donald Trump said a ceasefire agreement with Iran was nearing completion and announced the cancellation of planned military strikes, easing fears of a prolonged conflict that had rattled global markets earlier this week. Foreign investors, persistent sellers throughout much of June, returned as net buyers, purchasing 568.5 billion won worth of shares on the main board. Institutional investors added another 393.4 billion won, while retail investors took profits, selling a net 921.2 billion won. The Korean won also strengthened alongside equities, with the dollar falling to 1,519.40 won from the previous close of 1,528.90 won. Chipmakers led the advance. Samsung Electronics rose 10.54 percent to 330,500 won, extending its rebound above the 300,000-won mark, while SK hynix gained 7.76 percent to 2,264,000 won after briefly climbing above 2.3 million won. The gains spread across other heavyweight stocks. SK Square jumped 8.47 percent, Samsung Electro-Mechanics advanced 5.10 percent, Hyundai Motor gained 5.36 percent, LG Energy Solution added 4.16 percent and Samsung Life Insurance climbed 7.53 percent. The bullish mood spilled over into the junior KOSDAQ market, where the index rose 3.02 percent to 1,027.07, reclaiming the 1,000-point level. Rainbow Robotics surged 11.40 percent, EcoPro gained 6.71 percent, EcoPro BM rose 5.36 percent and Alteogen added 1.30 percent. The rebound in Seoul mirrored a powerful overnight rally on Wall Street. The Dow Jones Industrial Average gained 1.86 percent, while the S&P 500 and Nasdaq Composite rose 1.75 percent and 2.54 percent, respectively. U.S. semiconductor stocks also rallied sharply, reinforcing gains across Asian technology markets. Intel jumped 9.27 percent, Micron Technology surged 11.66 percent, SanDisk soared 14.50 percent and Nvidia added 2.22 percent. The optimism extended across Asia. Japan's Nikkei 225 rose 2.68 percent to 65,941.08, Hong Kong's Hang Seng Index gained 1.45 percent to 24,602.06, and China's Shanghai Composite advanced 0.99 percent to 4,026.62. 2026-06-12 11:13:47 -
BTS turns Busan into Asia's hottest destination SEOUL, June 11 (AJP) - Busan, South Korea's second-largest city and biggest port, has turned into a mini-Asia as it hosts a two-day homecoming concert for BTS, timed with the group's 13th anniversary. The summer vacation season arrived early for the coastal city, with fans crowding department stores, luxury outlets, convenience stores and Olive Young shops, while roaming beaches and BTS-themed streets ahead of the June 12-13 concerts. By late May, major hotels including Paradise Hotel Busan, The Westin Josun Busan, Grand Josun Busan, Ananti Cove and Sono Moon Haeundae had either sold out or reported occupancy rates above 90 percent for the concert period. "BTS WORLD TOUR 'ARIRANG' IN BUSAN" will take place at Busan Asiad Main Stadium, the same venue that hosted "Yet To Come in BUSAN" in October 2022, the group's last major full-member performance before the members began their mandatory military service. The second day of the concert also falls on the anniversary of BTS's debut, adding emotional weight to the Busan shows. It marks a homecoming after the group launched its world tour in Goyang, west of Seoul, drawing about 132,000 fans over three performances. Since then, BTS has swept through Japan, the United States and Mexico, with Busan serving as the latest stop on a global itinerary spanning 34 cities and up to 85 performances through March 2027. The group also picked up Artist of the Year and two other trophies at the American Music Awards during its stop in Las Vegas. The tourist boom is already translating into stronger consumer spending across Busan. Foreign sales at Shinsegae Centum City surged 267 percent during the first five months of the year from a year earlier, while overseas visitor sales at Lotte Department Store's Busan Main Store and Dongbusan branch rose 125 percent and 150 percent, respectively. Convenience stores and beauty retailers have also benefited. Foreign-currency transactions at GS25 stores near major tourist destinations such as Haeundae and Gwangalli jumped nearly 192 percent, while foreign sales at Olive Young stores in key tourism districts rose 64 percent. Spending by visitors from Greater China increased by about 80 percent. The figures suggest Busan is increasingly attracting tourists from Taiwan, Hong Kong, China and other parts of Asia not only as a sightseeing destination but also as a shopping and lifestyle hub. Industry officials say foreign tourists who once concentrated their spending in Seoul's Myeong-dong and Gangnam are increasingly extending their trips to Busan. The city has also prepared sideline showcases and events such as the Busan Port Festival and the Busan One Asia Festival to ride the BTS boom. "When you walk into Shinsegae Department Store these days, it's hard to tell whether you're in Busan or Fukuoka," said Park Sun-young, a 50-year-old resident of Busan's Centum City district. "You see Japanese and Chinese shoppers lining up outside luxury boutiques such as Hermès and Louis Vuitton. It's the same in Haeundae. I've never heard so many different Asian languages spoken in one place before," she added. Foreign arrivals reached 7.01 million in the first four months of this year, up 20.9 percent from a year earlier. Taiwan recorded the fastest growth at 34.1 percent, followed by China at 23.5 percent, Japan at 19.5 percent, Vietnam at 12.6 percent and the United States at 11.6 percent. Busan has emerged as one of the biggest beneficiaries of that trend. The city welcomed a record 3.64 million foreign visitors in 2025, while more than 1.02 million overseas travelers visited during the first quarter of this year, up 45 percent from a year earlier and marking the fastest time the city has surpassed the one-million-visitor mark since related statistics began in 2014. Authorities are preparing for a sharp increase in overseas visitors. The Incheon Airport Immigration Office said it will implement special operating measures from Wednesday to Saturday in anticipation of a surge in foreign arrivals traveling to Busan for the concerts. During a previous BTS concert period in April, daily foreign arrivals at Incheon Airport rose to between 47,000 and 49,000, roughly 26 percent higher than the monthly average. Chinese visitors accounted for the largest share, while travelers from Japan, Taiwan and Southeast Asian countries also increased significantly. Unlike BTS's first comeback performance at Seoul's Gwanghwamun Square in March, where nearly three-quarters of foreign attendees were long-term residents already living in Korea, the Busan concerts are expected to draw a larger share of visitors traveling specifically for the event, particularly from China, Taiwan, Japan and Southeast Asia. The trend has been aided by frequent regional air routes, even as long-haul travel remains costly amid the Gulf crisis. The city's growing popularity has even spawned the term "Busan craze," referring to travelers who find themselves wanting to return after experiencing the city's beaches, food culture and laid-back coastal atmosphere. But not everyone has been happy with the city. According to data from the Korea Tourism Data Lab, operated by the Korea Tourism Organization, Busan alone accounted for more than half of all tourism-related complaints filed nationwide in May, with 185 of 368 cases reported in the city. That total was equivalent to about 77 percent of all tourism complaints reported in Busan during the entirety of 2025. Complaint numbers jumped sharply from 48 in April to 185 in May, with accommodation-related grievances making up the overwhelming majority. Many complaints involved unilateral reservation cancellations, excessive cancellation fees and allegations of price gouging. Foreign visitors accounted for 83.8 percent of all complaints, significantly outnumbering domestic travelers. The increase came after reports emerged that some accommodation providers had canceled existing reservations and relisted rooms at higher prices following the announcement of BTS's Busan concerts. BTS members personally appealed to hospitality operators not to damage the image of the country or the group through profiteering. Local and central government authorities have since stepped up inspections of lodging businesses and transportation operators to prevent unfair pricing practices and minimize inconvenience for visitors. After Busan, BTS will continue its world tour through Europe, North America, Latin America, Southeast Asia, Greater China and Australia. The scale of the concerts and the consistency of production quality at each venue have drawn awe and praise, generating a wave of online confessions from new fans who say they have converted to ARMY. In a social media post on Monday, a member of the tour's technical team said the show will feature a 360-degree stage designed to bring fans closer to the performance, supported by around 100 trucks, 10 cargo aircraft and 400 crew members. The concerts will also be streamed online and shown through live-viewing screenings, allowing fans outside Busan to take part in the anniversary event. For Busan, the shows are more than another stop on the group's world tour. They may test whether a burst of global attention can become something more lasting. 2026-06-11 17:10:07