Journalist

Lee Hugh
  • Spy film Humint rebounds on Netflix after box-office flop
    Spy film 'Humint' rebounds on Netflix after box-office flop SEOUL, April 8 (AJP) - Director Ryoo Seung-wan's latest film "Humint" claimed the top spot on Netflix's chart for non-English movies, just a week after becoming available on the global platform, following its theatrical flop in February. According to Netflix's ranking site Tudum, the spy film garnered 11 million cumulative views in about a week after it began streaming last Wednesday, securing the top spot among non-English films. The 119-minute film also took the top spot in more than a dozen countries and ranked in the top 10 in 67 countries worldwide. "Humint" starring Park Hae-joon, Park Jung-min, Shin Se-kyung, and Zo In-sung revolves around a South Korean intelligence agent who hunts a drug ring in Russia and becomes entangled with a North Korean spy, pulling both into danger and hidden secrets. First released in theaters on Feb. 11, the film attracted a mere 1.98 million moviegoers, well below the estimated 4 million needed to break even. 2026-04-08 16:58:15
  • Africas moment, however fragile, opens opportunities for Korea
    Africa's moment, however fragile, opens opportunities for Korea SEOUL, April 08 (AJP) - Asia has long dominated as the global economy’s growth engine, but Africa may be emerging as a formidable contender. Sub-Saharan Africa is projected to outpace Asia this year. According to the International Monetary Fund, the region’s real GDP is expected to grow 4.5 percent in 2026, compared with Asia’s 4.1 percent. Some economies are expanding rapidly: Guinea is forecast to grow 10.5 percent, Uganda 7.6 percent and Ethiopia 7.1 percent. Capital is also taking notice. Flows jumped 75 percent in 2024 to a record $97 billion, with North African economies drawing particularly strong inflows. By contrast, foreign direct investment into Asia has stagnated, falling from $662 billion in 2022 to $605 billion in 2024. The overall picture points to a continent on the rise — increasingly central to the global economy amid shifting geopolitics and supply chains. Yet beneath the headline growth lies a more complex and uncertain reality. Africa’s recent momentum cannot be explained by a single factor. It reflects a mix of demographic change, policy experimentation, commodity cycles and technological adaptation. “Current fast growth in several African economies reflects a combination of structural and cyclical factors rather than a single model,” said Anthony Butler, a professor at the University of Cape Town. At a basic level, many African economies are benefiting from “catch-up growth,” starting from a low base and achieving rapid gains through capital accumulation, labor shifts and the adoption of existing technologies. Urbanization is also playing a key role. Rapidly expanding cities are driving demand for housing, transport, finance and retail, with growth increasingly supported by domestic consumption rather than exports alone. At the same time, technological “leapfrogging” is reshaping development. Mobile money, digital platforms and off-grid solar systems have expanded access to finance and electricity, often more efficiently than traditional infrastructure. These gains, however, are uneven. While some countries have diversified their growth engines, others remain heavily dependent on natural resources. In Guinea, bauxite exports are driving expansion. In Uganda, oil development is attracting investment. In Ethiopia, a state-led, infrastructure-focused model has delivered strong short- to medium-term growth. Historically, Butler noted, African growth has been tied to “oil, gas and mineral resources, together with agricultural commodities” — a pattern that remains volatile. Shifting external finance One of the most notable recent changes is in the composition of external finance. Foreign aid to sub-Saharan Africa has declined sharply, following sharp cuts by the United States. According to the OECD, assistance from advanced economies fell by as much as a quarter last year. China — once a major lender — has shifted from issuing new loans to recovering existing ones. Private investment has stepped into the gap. The surge in foreign direct investment reflects growing confidence in Africa’s long-term prospects, particularly in energy, infrastructure and manufacturing. North African economies such as Morocco and Tunisia have attracted significant inflows tied to industrial development and export-oriented production. Africa has also emerged as a “tariff refuge” in global manufacturing. Some Chinese firms have relocated production to African countries to benefit from trade preferences when exporting to the United States and Europe. But that advantage is already under pressure. Recent U.S. tariff policies, including a broad 10 percent baseline tariff, are eroding the competitiveness of such arrangements. The result is a shifting external environment where opportunities are expanding — but so are uncertainties. Structural constraints persist Despite visible dynamism, the underlying structure of many African economies has changed less than growth figures suggest. More than 90 percent of exports from sub-Saharan Africa remain unprocessed raw materials, according to Howard Stein, a professor at the University of Michigan. This reflects a deeply entrenched position at the lower end of the global value chain. “The continent…has found itself as the exporter of raw materials at the bottom of the international value chain,” Stein said. But commodity-driven growth generates limited employment and is highly sensitive to global price swings. When prices rise, economies expand; when they fall, growth slows or reverses, often triggering fiscal stress. These cycles are compounded by Africa’s position in the global financial system. African economies typically operate with “weak” or “junk” currencies, in Stein’s words, and must rely on hard currencies such as the U.S. dollar to finance imports and stabilize their economies. This creates structural dependence on external capital and limits policy autonomy. “The key characteristic of the global financial architecture is the hierarchy of currencies,” Stein said, noting that the dollar’s dominance confers advantages on the United States while constraining others. When external shocks hit, countries often face balance-of-payments crises, forcing them to seek IMF support — often tied to austerity measures that can undermine long-term growth. The result is a “vicious cycle” in which commodity dependence reinforces itself. Growth amid global uncertainty Even current growth projections come with caveats. Stein noted that IMF forecasts were made before escalating geopolitical tensions in the Middle East, including conflict involving Iran — developments that could disrupt oil markets and global stability. “Forecasts are even more problematic when you are in the middle of a war…with unknown implications,” he said. At the same time, shifting U.S. trade policy and broader geopolitical fragmentation are introducing new uncertainties that disproportionately affect regions like Africa, which remain closely tied to external markets and financial systems. In this context, short-term growth figures may obscure deeper vulnerabilities. Demographics: opportunity and risk If Africa’s present is shaped by structural constraints, its future may be defined by demographics. The continent’s population — currently about 20 percent of the global total — is expected to reach nearly 28 percent by 2050. “A young and rapidly growing population is expanding both the labor force and consumer markets,” said Edwin Muchapondwa, an economics professor at the University of Cape Town. In theory, this “demographic dividend” could support sustained growth. In practice, it depends on job creation — which has often lagged population growth. Urbanization is already transforming economies, fueling demand for services such as retail, transport and telecommunications. But without sufficient industrialization and employment, rapid population growth risks deepening inequality and social tension. Africa is set to become the world’s fastest-urbanizing region. According to the Economist Intelligence Unit, six cities — Cairo, Kinshasa, Lagos, Greater Johannesburg, Luanda and Dar es Salaam — are projected to exceed 10 million people by 2035. These urban centers are hubs of innovation, but also flashpoints for protests linked to corruption, taxation, unemployment and dissatisfaction with political leadership. By 2035, more than half of Africa’s population will live in cities, with the urban population approaching 1 billion, up from around 650 million in 2023. The continent is also expected to have 17 cities with populations above 5 million and around 100 exceeding 1 million. Addis Ababa is projected to grow fastest, followed by Kampala, Dar es Salaam and Abidjan. The EIU also highlights emerging “megalopolises,” including a 600km corridor along the West African coast from Abidjan to Lagos that could house more than 50 million people by 2035, alongside clusters in Egypt, South Africa, East Africa and North Africa. At the core of Africa’s economic debate is a central question: how to move from extraction to value creation. Governments are increasingly seeking to develop downstream industries — processing raw materials domestically rather than exporting them unrefined, and this is where Korea can define its role in the continent, according to experts. Africa holds significant reserves of minerals essential for electric vehicles, renewable energy and digital technologies – all crucial to power Korean Inc. Tanzania’s Kabanga nickel deposit, for example, is among the world’s largest undeveloped reserves. Experts advise South Korea to capitalize on this momentum, leveraging its experience in industrial transformation. The challenge is not simply extraction, but capturing value. “A major drive on the continent is to move beyond extraction,” Butler said, warning that without such efforts, Africa risks repeating patterns where external actors capture disproportionate gains. Achieving this shift will require improvements in infrastructure, governance and institutional capacity — areas where progress remains uneven. Unlike China, South Korea is often seen as a more adaptable model. Its rapid development was driven by export-led industrialization, strong state capacity, investment in education and close government-industry coordination. “The key lessons may be to build capable institutions, focus on exports, invest in skills, and pursue gradual industrial upgrading,” Butler said. However, he cautioned that African countries often lack the political cohesion and institutional depth that underpinned Korea’s experience. Simply replicating its model without adaptation could be counterproductive. “The most effective approach would be one that supports local capacity-building…engages African states as strategic partners,” said Bulelani Jili of Georgetown University. Geopolitical tensions are also opening space for new alliances. “There is the possibility for independently minded nations to generate new alliances,” Stein said, pointing to opportunities for cooperation that could help diversify and strengthen Africa’s industrial base. Africa’s growth story has long been cyclical — marked by optimism followed by setbacks driven by external shocks or internal constraints. Whether this time is different depends on whether growth can translate into structural transformation: moving up the value chain, building resilient institutions and creating inclusive systems. As Jili put it, the key question is not whether Africa will grow — but “what kind of growth is being produced, and who benefits from it.” 2026-04-08 16:48:20
  • Hormuz reopening hopes spark 7% KOSPI surge as oil plunges
    Hormuz reopening hopes spark 7% KOSPI surge as oil plunges SEOUL, April 08 (AJP) - The prospect of the Strait of Hormuz reopening under a two-week ceasefire ignited Asian markets on Wednesday, sending South Korea’s benchmark KOSPI soaring nearly 7 percent. The index, after jumping as high as 5,919.60, closed up 6.9 percent at 5,872.3. A buy-side sidecar was triggered shortly after the open as the KOSPI 200 surged more than 5 percent at the opening bell. The rally was driven by a sharp reversal in global energy markets. Brent crude plunged more than 15 percent to $92.89 a barrel, while U.S. West Texas Intermediate fell 16.1 percent to $94.6, after U.S. President Donald Trump said he would delay military action against Iran for two weeks under a conditional ceasefire tied to the reopening of the Strait of Hormuz. The de-escalation, reportedly accepted by Tehran and involving coordinated maritime access, eased fears of supply disruptions along a route that carries roughly 20 percent of global oil flows. The drop in crude prices tempered inflation concerns and triggered a broad risk-on move across global markets. Investor positioning reflected the shift. Foreign investors bought 2.43 trillion won ($1.65 billion) worth of local equities, while institutions added 2.71 trillion won. Retail investors moved in the opposite direction, selling a combined 5.42 trillion won, indicating profit-taking into the rally. Large-cap stocks led gains, particularly in semiconductors and cyclicals. Samsung Electronics rose 7.1 percent to 210,500 won, while SK hynix surged 12.8 percent to 1,033,000 won, supported by expectations of record first-quarter earnings and upward revisions in target prices. Automakers also advanced, with Hyundai Motor gaining 7.4 percent to 508,000 won and Kia rising 5.6 percent to 159,200 won. LG Electronics jumped 9 percent to 116,700 won after reporting record quarterly revenue, as analysts raised target prices on expectations of a structural shift toward robotics and AI-driven infrastructure. In contrast, select defense stocks retreated, with Hanwha Aerospace falling 3.5 percent to 1,484,000 won, reflecting a decline in geopolitical risk premiums. The tech-heavy KOSDAQ gained 5.1 percent to 1,089.9, trading between 1,071.35 and 1,090.04. Foreign investors bought 240.5 billion won, while institutions added 371.1 billion won. Retail investors sold 583.6 billion won, suggesting gains were driven by institutional and offshore inflows. The Korean won strengthened sharply, with the dollar falling 26 won to 1,471.0 — the steepest drop since March 24 — as the dollar index slipped 1 percent to 98.7. Despite the rally, volatility remained elevated, with the VIX rising 6.7 percent to 25.78, underscoring lingering uncertainty. Across the region, Japan’s Nikkei 225 climbed 5.5 percent to 56,360.2, while China’s Shanghai Composite rose 2.4 percent to 3,984.6 and Hong Kong’s Hang Seng gained 3.1 percent to 25,897.1, led by energy-sensitive and export-oriented sectors. 2026-04-08 16:34:42
  • CRAVITY to Return April 29 With Eighth Mini Album ReDeFINE
    CRAVITY to Return April 29 With Eighth Mini Album 'ReDeFINE' CRAVITY has announced its return with a story-film video. Starship Entertainment said it posted the video on the group’s official social media accounts on April 7 and confirmed that CRAVITY’s eighth mini album, “ReDeFINE,” will be released April 29 at 6 p.m. The video opens like a strange, dreamlike fairy tale. It centers on a circular shape that appears in the sky, with witnesses insisting it looks different to each of them, adding to the mystery. The narrative then shifts to a cycle of disappearance and rebirth and a longing for permanence, teasing the album’s concept. Rendered in a surreal, storybook painting style, the clip pairs mythlike imagery with heavy, enigmatic music. Near the end, a close-up shot inside a snake’s mouth appears, followed by the album title and release schedule. CRAVITY last year released its second full-length album, “Dare to Crave,” and an epilogue album, expanding its musical range and storyline. All members took part in writing and composing, and the title track “SET NET G0?!” earned two music show wins. The group also held a solo concert at the Handball Gymnasium for the first time since debut, marking its fifth year. The group’s momentum carried into awards, including the performance male group category at the 2024 Super Sound Festival, the Best Performance Award at the 34th Seoul Music Awards, the K World Dream Best Performance Award at the 2025 K World Dream Awards, and the AAA Icon Singer honor at the 10th anniversary Asia Artist Awards. More recently, CRAVITY wrapped its “2026 CRAVITY FAN CONCERT VITY FESTA” and continued overseas activity with the release of its third Japanese single, “BLAST OUT.” CRAVITY will release “ReDeFINE” on April 29 and begin full-scale promotions. Additional content will be rolled out through the group’s official social media channels. * This article has been translated by AI. 2026-04-08 16:27:16
  • KakaoBank Eyes Mongolia Expansion, Prepares Stablecoin Plan
    KakaoBank Eyes Mongolia Expansion, Prepares Stablecoin Plan KakaoBank said it is pushing to enter Mongolia after expanding into Indonesia and Thailand, as it looks to diversify revenue through overseas business. The company also said it plans to secure a license to issue stablecoins after the enactment of the Digital Asset Basic Act, aiming to take an early lead in that market. At a news conference on April 8 at the Fairmont Ambassador Seoul in Yeouido, KakaoBank CEO Yoon Ho-young said the company plans to export its credit-scoring system, called “KakaoBank Score,” to Mongolian financial institutions. The model uses nonfinancial data, he said. “Mongolia is a market where the credit evaluation system has not yet been sufficiently advanced,” Yoon said. “It is meaningful to apply KakaoBank’s inclusive finance capabilities accumulated in Korea to overseas markets.” Mongolia would be KakaoBank’s third overseas business after Indonesia and Thailand. KakaoBank is also preparing to start operations in the first quarter of next year for “BankX,” an internet bank set up as a joint venture with Thailand’s SCBX Group. KakaoBank said it plans to introduce key products locally, including its “26-week savings” and “group account,” and to lead development of the mobile app to deliver a user experience similar to its service in Korea. KakaoBank said its competitiveness in “easy finance” is driving broader cooperation with overseas financial firms, saying its services can be effective in Southeast Asian markets where informal lending is high or financial infrastructure is limited. Yoon said local interest was strong in its overdraft loan product, adding that working with local partners, rather than entering directly, can reduce risk. KakaoBank also said it plans to obtain a stablecoin issuance license after the Digital Asset Basic Act is enacted and to participate across issuance and distribution. If needed, it will consider mergers and acquisitions across payments and investment, the company said. “The goal is to make a won-denominated stablecoin as convenient to use as withdrawing funds from an account,” Yoon said. “If there is a suitable company, we will actively look for M&A opportunities.” 2026-04-08 15:57:17
  • Prosecutors seek 15-year prison term for ex-first lady in appeals trial
    Prosecutors seek 15-year prison term for ex-first lady in appeals trial SEOUL, April 8 (AJP) - Prosecutors requested a 15-year prison term for Kim Keon Hee, the wife of disgraced former President Yoon Suk Yeol over multiple charges during an appeals trial in Seoul on Wednesday. The 15-year sentence requested by prosecutors at the Seoul High Court is the same as what they sought in the first trial. In the first ruling, delivered in January, the former first lady was sentenced to just 20 months in prison for accepting bribes including a luxury handbag and high-end jewelry worth about 80 million Korean won (US$60,000) from a dubious religious leader and shaman as well as secretive religious sect Unification Church, better known as the Moonies. But the court dismissed other charges that she was allegedly involved in a stock manipulation scheme and in interfering with candidate nominations during the 2022 by-elections. Prosecutors argued that the initial sentence was too light, given the severity of her misconduct, which caused "grave social shock." They also pointed out that Kim "undermined the securities market for personal gain" and warned that leniency could threaten the integrity of the financial system and harm ordinary investors. During the final hearing before sentencing at the court in southern Seoul, Kim opted to remain silent and declined to answer any questions from prosecutors. 2026-04-08 15:52:32
  • Lawyers in Korea clash over bar pass rates amid glut and AI threat
    Lawyers in Korea clash over bar pass rates amid glut and AI threat SEOUL, April 08 (AJP) - Lawyers usually fight for others, but in South Korea these days, they are fighting for themselves. The Korean Law School Student Association on Wednesday issued a statement signed by 1,024 students from 25 law schools, calling on the government to ease entry barriers by raising the bar exam pass rate to 75 percent from the current median of around 50 percent. Just days earlier, on Monday, an unseasonably chilly spring drizzle did not deter about 200 lawyers from staging a sit-in outside the Gwacheon Government Complex — home to the Ministry of Justice — demanding the exact opposite: a reduction in new entrants. They cited intensifying competition, a growing glut in the legal market, and the rise of AI and digital tools threatening to replace paralegals and assistants. With roughly 1,700 new lawyers entering the market each year, tensions are rising ahead of the April 24 bar exam results, as debate intensifies over whether to curb new entrants or raise the pass rate. The conflict echoes a long-running dispute. In December 2010, students from 25 law schools staged a protest by piling up withdrawal letters, reflecting a deep divide over quotas. The Korean Bar Association called for the number of new lawyers to be capped at around 1,000, while law schools insisted on guaranteeing at least 2,000. According to the Korean Bar Association, the number of lawyers in South Korea is expected to more than triple from around 10,000 in 2009 to an estimated 38,000 this year. The increase has been driven by the steady addition of 1,500 to 1,700 new lawyers annually, including 1,744 newly licensed in 2025. At this pace, the total could approach 40,000 — roughly one lawyer for every 1,350 people. The ratio remains a far cry when compared to 1 per 249 in the United States and the OECD average of 1 per 555, but the expansion has intensified competition and eroded incomes in Korea where legal services are less common than developed economies. The Korean Bar Association said the average number of cases handled per lawyer has fallen from 6.97 in 2008 to fewer than one today. Median annual income has dropped to around 30 million won, below that of average wage workers. For many, the profession has lost its status as a high-income elite career. Timothy Kim, 35, who became a lawyer last year, said that even after completing mandatory training, employment is not guaranteed. “Offices in Seocho — Seoul’s legal district housing courts up to the Supreme Court — pay trainees with law school degrees less than 3 million won per month,” he said. “Graduates are required to complete a training program provided by the Korean Bar Association, but the cost alone exceeds 1 million won,” he added. Many in the field trace the oversupply to the adoption of a U.S.-style law school system. Introduced in 2009, the system replaced the state judicial exam — once known for its extreme selectivity — with a model designed to produce about 1,500 new lawyers annually. Under the current system, candidates who complete a three-year law school program are eligible to sit for the bar exam. The reform aimed to diversify the legal profession, expand access to legal services and reduce the social and economic costs of prolonged exam preparation. Less than two decades later, however, many graduates say the system has recreated intense competition — likening it to high school seniors competing for select top universities and in this case, top law firm positions and public-sector roles. Too many students, too few places Competition begins at entry. A total of 19,057 applicants sat for the Legal Education Eligibility Test (LEET) last year, more than double the 8,246 recorded in 2016. With law school admissions capped at around 2,100 annually, entry has become increasingly competitive. Amid shrinking job opportunities at major corporations, many university graduates are turning to law school to buy time and enhance credentials — contributing to persistently low pass rates, with roughly half of candidates failing each year. The number of bar exam candidates has nearly doubled from 1,663 in 2012 to 3,336 last year, with 3,757 applicants this year. Despite the surge, the Ministry of Justice has maintained an annual quota of around 1,500 to 1,700 successful candidates. Under current rules, graduates are allowed up to five attempts within five years to pass the exam. Those who fail lose eligibility permanently, even if they re-enroll in law school. As a result, the number of so-called “bar exam dropouts” reached 1,918 last year and is expected to exceed 2,000 this year. The debate over lawyer supply has sharpened, with starkly opposing views on whether the pass rate should remain near 50 percent or rise toward 80 percent. Supporters of an increase argue that maintaining a 50 percent pass rate undermines the original intent of the law school system — to provide broader and fairer access to the profession. They also point to potential growth in legal demand, particularly in corporate advisory work, cross-border transactions and AI-related services. “A system that excludes qualified candidates due to a fixed pass rate cannot be right,” said Lee Hwang, a professor at Korea University School of Law. He added that the current structure distorts legal education, as students focus solely on passing the bar exam rather than developing practical skills. He warned that this limits the competencies required of legal professionals and argued that raising the pass rate is essential. Lee also noted that low pass rates have intensified stratification among law schools. “Schools are effectively ranked by pass rates, and both students and faculty face significant pressure — particularly at institutions with lower rates,” he said. The Korean Bar Association disputes this view. Jung Hyuk-joo, a spokesperson for the association, said the probability of passing within five attempts already exceeds 80 percent. “A more fundamental solution is to reduce law school enrollment rather than raise the pass rate,” he said. Lee also argued that reinstating the old state-administered judicial exam would not resolve the issue and could instead distort the market. Maintaining both systems, as in Japan, would also risk oversupply, he added. Jung, however, pointed to Japan as a counterexample, noting that despite having a population roughly 2.5 times larger than South Korea, it produces about 1,500 new lawyers annually. He also cautioned against comparisons with the United States, where lawyers cover a broader scope of work due to the absence of parallel professions such as patent attorneys, tax accountants and administrative agents. “The scale of the legal market in the U.S. is fundamentally different,” he said, adding that any discussion on raising the pass rate must first clarify whether the benchmark is Japan or the United States. Discussions are nevertheless underway at the presidential office on a proposal to select an additional 50 to 150 legal professionals annually through a separate judicial exam track. 2026-04-08 15:21:37
  • Viet Nam readies financial hub pivot as Hanoi targets high-income status
    Viet Nam readies financial hub pivot as Hanoi targets high-income status SEOUL, April 08 (AJP) - Viet Nam has secured 10 billion dollars in initial investment commitments as it formally launched a dual-hub international finance center, marking a decisive shift from its decades-long reliance on low-cost manufacturing. The project, which anchors operations in Ho Chi Minh City and Da Nang, signals the most significant economic restructuring since the Doi Moi reforms of the 1980s. This pivot toward the Viet Nam International Finance Center (VIFC) represents a strategic gambit to escape the middle-income trap that has historically stifled developing economies. By establishing specialized zones, Hanoi aims to modernize its economic architecture and position itself as a sophisticated, technology-driven alternative to established regional nodes. The strategy operates on a one-center, two-hub model designed to leverage the distinct geographic and economic strengths of the nation. Ho Chi Minh City, the commercial engine of the south, is designated as the primary gateway for international capital. Development is concentrated in the Thu Thiem district, which will house investment banks, private equity firms, and venture capital outfits to facilitate cross-border transactions and initial public offerings. In contrast, Da Nang is positioned as a center for green finance and technological innovation. The coastal city will host regulatory sandboxes for fintech, blockchain, and financial artificial intelligence. This division of labor allows Hanoi to target emerging sectors such as renewable energy projects and environmental, social, and governance funds, carving out a niche in the global market. Rather than attempting to replicate the traditional models of Singapore or Hong Kong, officials are pursuing a leapfrog strategy centered on digital assets and the data economy. To attract global institutional players, the government has introduced Decree 323 and Decree 324, which grant the VIFC unprecedented levels of autonomy. These frameworks mandate the adoption of International Financial Reporting Standards and Basel-compliant risk supervision to ensure institutional stability and transparency. Fiscal incentives for the project are among the most aggressive in Southeast Asia. Priority ventures in fintech, semiconductor technology, and green finance are eligible for a 10 percent corporate income tax rate for 30 years. Other qualifying projects will receive a 15 percent rate for 15 years. To address the need for specialized labor, the state has introduced a golden visa program providing up to 10 years of residency and personal income tax exemptions for international experts. The initiative arrives as global investors seek to diversify portfolios amid shifting supply chains in Asia. South Korean conglomerates and financial institutions in Seoul, which have historically treated the country as a manufacturing base, are now evaluating expanded roles in the burgeoning services sector. The 10 billion dollars in early investment pledges are primarily directed toward aviation finance and digital data infrastructure. The Ministry of Planning and Investment continues to finalize the technical implementation of the regulatory sandbox for digital asset trading. For global investors, participating in the VIFC represents more than just simple market expansion; it signifies entering the early stages of a mid-to-long-term growth cycle. At this current juncture, as the institutional framework, infrastructure, and financial ecosystem are taking shape in earnest, institutions that establish a preemptive presence will secure a strategic advantage. This early entry will allow them not only to secure prime locations and forge key partnerships but also to lead in establishing market standards. The core message from Viet Nam's senior leadership is clear. Rather than relying on the outdated approach of competing directly with established, traditional financial hubs, the goal is to build a "smart, digital, and green" financial center rooted in Vietnam's unique strengths. This mindset demonstrates both confidence and a pragmatic perspective. Instead of simply replicating the models of Singapore or Hong Kong, Viet Nam has chosen a strategy that integrates digital technology, green finance, fintech, artificial intelligence (AI), and the data economy right from the initial stages. This is a highly differentiated approach, characteristic of a "next-generation financial hub" that responds flexibly, openly, and swiftly to global shifts. 2026-04-08 15:17:10
  • LAFCs Son Heung-min scores seasons second goal, ending months-long drought
    LAFC's Son Heung-min scores season's second goal, ending months-long drought SEOUL, April 8 (AJP) - Son Heung-min of the Los Angles FC (LAFC) scored a goal, helping his club cruise to a 3-0 win over Mexico's Cruz Azul in the first leg of the CONCACAF Champions Cup quarterfinals on Tuesday. In a match at BMO Stadium in Los Angeles, the striker scored in the 30th minute, converting a cross from Canadian midfielder Mathieu Choinière on the right with a left-footed finish into the net. The goal was his second of the season, ending a drought after going scoreless in nine consecutive matches since his last goal in mid-February. LAFC added two more goals from Venezuelan forward David Martínez who scored in the 39th and 58th minutes to secure the win and put the club in a favorable position to reach the semifinals. Son was substituted by American Nathan Ordaz just minutes before injury time. The LAFC's second leg match will be played in Puebla, Mexico next Tuesday. 2026-04-08 15:11:46
  • Netflix Film Humint Tops Global Top 10 Movies List
    Netflix Film 'Humint' Tops Global Top 10 Movies List The film 'Humint' has surged to No. 1 on Netflix’s Global Top 10 list for non-English movies soon after its release, extending its strong run. According to Netflix’s Tudum Top 10 website on Tuesday, 'Humint' logged 11 million views for the week measured, ranking first in the non-English film category. The result came within five days of its April 1 release. It also outperformed the No. 1 title in Netflix’s English-language film category over the same period, making it the top-performing movie overall on the platform’s weekly chart. The film ranked No. 1 in 14 countries, including South Korea, Taiwan, Romania, Morocco, Vietnam, Saudi Arabia, Singapore, Qatar, Kenya, Kuwait, the Philippines and Hong Kong, and appeared in the Top 10 lists in 67 countries worldwide. International reviews have followed. The South China Morning Post said the film delivers “nonstop action without a break,” highlighting the genre payoff in the latter part. Users on IMDb and Rotten Tomatoes also praised its balance of action and emotion and the tension typical of spy thrillers. The performance suggests the film’s genre appeal has resonated with viewers beyond South Korea’s theaters, where it was released before arriving on Netflix. Set in Vladivostok, portrayed as a place where secrets and truths are buried in an icy sea, 'Humint' follows characters with different aims as they collide. The film is directed by Ryoo Seung-wan and stars Jo In-sung, Park Jeong-min, Park Hae-joon and Shin Se-kyung.* This article has been translated by AI. 2026-04-08 15:03:07