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S. Korea slips to seventh in third-place race after Senegal routs Iraq SEOUL, June 27 (AJP) - South Korea’s hopes of reaching the World Cup round of 32 suffered another setback after Senegal’s 5-0 victory over Iraq pushed Korea down to seventh place in the race among third-place teams. Senegal defeated Iraq in their final Group I match in Toronto on Friday, improving to one win and two losses for three points and finishing third in the group. Senegal had trailed South Korea on goal difference, but the five-goal victory improved its mark to plus-three, pushing Korea, at minus-one, further down the standings. South Korea, also on three points with one win and two losses, is now seventh in the overall third-place standings and sixth among the seven teams that have completed all three group matches. Under the expanded 48-team format, the top two teams from each of the 12 groups advance to the round of 32, along with the eight best third-place finishers. Sweden, Ecuador and Bosnia and Herzegovina, each with four points, have already secured places in the knockout stage. Needing a convincing win to strengthen its qualification chances, Senegal attacked from the outset and took the lead through Habib Diarra in the fourth minute. Iraq’s task became even more difficult when defender Rebin Sulaka was sent off in the ninth minute following a video review. Senegal took advantage of its numerical superiority and scored four more goals in the second half. In the other Group I match, France defeated Norway 4-1 in Boston behind a hat trick from Ousmane Dembele. A highly anticipated meeting between France’s Kylian Mbappe and Norway’s Erling Haaland did not materialize after Haaland missed the match. France finished top of the group with three wins and nine points. Norway advanced as the runner-up with two wins and one loss and will face Ivory Coast in the round of 32 on July 1. 2026-06-27 09:04:16 -
Jellycat Opens First Store in South Korea with a Futuristic Theme A futuristic city set in 2075 has emerged in the heart of Yeouido, Seoul. With vibrant neon signs, the constant sounds of urban signals, and hover bikes soaring through the air, this cinematic space has come to life at the Hyundai Seoul. The star of this spectacle is the British plush toy brand Jellycat. On June 26, the 'Jellycat 2075 AD General Store,' the brand's first official store in South Korea, opened on the fifth floor of the Hyundai Seoul. Jellycat is renowned for creating unique spaces around the world, including 'Jellycat Fish and Chips' in London, 'Jellycat Cafe' in Shanghai and Beijing, and 'Jellycat Diner' in New York, each with its own theme. The theme for Seoul is a futuristic city in 2075. Greeting visitors at the entrance is a giant version of Jellycat's iconic character, 'Jack,' who welcomes guests from atop a flying hover bike. Upon entering, the futuristic atmosphere intensifies. Neon lights, large structures, and Jellycat characters hidden throughout create a cohesive vision of a future world. While futuristic cities often evoke cold and desolate imagery, this space offers a different perspective. It depicts a warm future where adorable characters coexist. Although set in the distant year of 2075, the whimsical and cheerful vibe characteristic of Jellycat remains intact. A Jellycat representative stated, "Jellycat stores are spaces for sharing 'joy.' The Hyundai Seoul store is the first official themed space where Korean customers can fully experience the Jellycat universe." As the first official store in the country, it features a collection of popular characters, including the beloved 'Bunny,' along with the Amuseables line, which reinterprets everyday fruits, foods, and household items in Jellycat's unique style. The most notable product at the Seoul store is the 'Bartholomew Bear Disco Ball.' This Jellycat character is dressed in a sparkling silver disco ball outfit, based on a storyline where he accidentally time-travels to the future while enjoying a galactic disco party. This product is making its global debut in Seoul. A Jellycat representative noted, "Jellycat has a global fanbase, and there are international tourists who visit the store specifically to purchase exclusive items. We expect many global fans to visit this time as well." The futuristic city of Jellycat extends beyond just visuals. On the second floor of the Hyundai Seoul, the department store's cafe brand, Til White, will offer two limited-edition drinks and one special dessert inspired by Jellycat. These collaborative menu items will be available until July 26, so be sure not to miss out. * This article has been translated by AI. 2026-06-27 09:04:00 -
The Spiritual Essence of Shinto: From Nature Worship to National Ideology Japan's exploration of Shinto reaches its conclusion. Previous installments examined how Shinto regarded nature as sacred and how its spirituality supported community life through shrines and festivals. The final question remains: How did a religion that revered nature become an ideology of the modern state, and how did community spirituality merge with state power? This question extends beyond Japan; it is a universal inquiry faced by all religions throughout history, illustrating the significant lessons of civilization when spirituality intersects with power. Shinto was not originally a doctrine-driven religion. It lacked absolute scriptures or a founder. Instead, it was a life philosophy that naturally developed around reverence for mountains, forests, rivers, seas, winds, suns, ancestors, and villages. The Japanese referred to this as the world of "kami" (神). Kami were not absolute deities ruling over humans but rather sacred beings residing in life and nature. Thus, Shinto functioned for a long time as a philosophy that respected nature and connected communities. The arrival of Buddhism in Japan during the 6th century marked the beginning of a new transformation. Initially, there were conflicts, but over time, the Japanese chose to harmonize the two traditions rather than oppose them, a phenomenon commonly known as Shinbutsu Shugo (神仏習合). Gods were understood as different manifestations of Buddha, and temples and shrines coexisted in the same spaces. When a child was born, they received blessings at a shrine, and Buddhist funerals were held when someone died. This reflected the Japanese cultural emphasis on harmony in life over doctrinal consistency. However, the Meiji Restoration in the late 19th century fundamentally altered Japanese society. New leaders aimed to end feudal order and build a modern state, necessitating a spiritual focal point to unify the populace. Shinto was chosen for this role. Originally a life-centered religion, Shinto was restructured into a state-managed system, and the emperor was elevated from a mere monarch to a sacred center of the nation. In this process, Shinto began to take on a different character. Shrines became symbols of state authority rather than just community centers, and education and rituals shifted to emphasize loyalty and sacrifice. The focus on nature gradually turned toward the state, and dedication to the community expanded into dedication to the nation. A structure emerged where the state utilized religion rather than the other way around. Of course, Japan's modernization had positive aspects. The rapid development of industry, education, administration, and military systems aimed at creating a nation on par with Western powers is noteworthy in world history. However, when the goals of state growth and national unity merged with religion, the resulting power could easily transform into an absolute force that allowed little room for criticism. History has repeatedly shown such patterns across various civilizations. Entering the 20th century, Japan embarked on a path of imperialism. State Shinto gradually became an ideological foundation justifying nationalism and militarism. Pilgrimages to shrines became acts of loyalty to the state, and loyalty to the emperor was sometimes viewed as a sacred duty beyond political obligation. The spirituality that once taught humility before nature became intertwined with a logic demanding absolute obedience to the state, causing Shinto to lose much of its original purity. This point requires a sober reflection from today's perspective. Equating Shinto itself with militarism is incorrect, just as is ignoring historical responsibility. Religion is fundamentally a spiritual culture that enriches human life, but when power exploits it for political purposes, entirely different outcomes can arise. The critical factor is not the name of the religion but how it intertwines with power. The defeat in World War II brought a significant turning point for Japanese society. After the war, the state Shinto system was dismantled, and Shinto was separated from the state once again. The emperor was no longer viewed as a divine being but rather as a symbolic figure. This process allowed Japanese society to redefine the relationship between religion and the state. Today, the reasons Japanese people visit shrines differ significantly from the past. They visit shrines for the first prayer of the year, to wish for their children's health, and to commemorate important life events such as weddings and graduations. This reflects a cultural practice focused more on family, community, and personal peace than on loyalty to the state. Shinto has returned to being a spirituality embedded in daily life. However, history should not be easily forgotten. We must remember that even beautiful traditions can transform when combined with power, and that spirituality should always operate in a way that protects human freedom and conscience. The moment reverence for nature shifts into a logic that oppresses humanity, religion loses its original purpose. At this juncture, we must return to nature. The starting point of spirituality is neither the state nor power, but rather awe toward the order of mountains, rivers, forests, seas, seasons, life, and the universe surrounding humanity. This was the essence that Shinto initially revealed to us. This perspective resonates deeply with the natural spirituality emphasized by Korean thinker Yoo Young-mo. He understood humans not as rulers over nature but as beings breathing alongside cosmic life. He viewed all creation as filled with God's life and regarded nature not merely as material but as a manifestation of sacred life. This line of thought intersects with the spirit of reverence for nature inherent in Shinto while advancing toward a universal spirituality that does not absolutize any specific nation or power. Shinto underwent a significant transformation after the war. The state could no longer use Shinto as an ideological tool, and shrines returned to being spaces within local communities. Today, many Japanese do not actively identify as followers of a specific religion, yet they visit shrines at the New Year, pray for their children's growth and health, and commemorate significant life events there. This reflects a cultural practice rather than a religious one, focusing on life rituals rather than doctrines. This phenomenon illustrates that the Japanese view of religion is not contradictory but rather a practice-centered culture. People visit shrines at the start of life, celebrate weddings in various forms, and often follow Buddhist customs for funerals. While this may seem inconsistent by Western standards, Japanese society has naturally accepted this coexistence over the years. This results from understanding religion not as a competitive entity but as a cultural asset that enriches life. At this point, we are reminded of Yoo Young-mo. He viewed nature not as something for humans to exploit but as a sacred world infused with God's life. He believed that mountains, fields, trees, winds, rivers, and seas all contain the order of life, and that humans must live humbly within that order. This worldview resonates with the spirit of reverence for nature found in Shinto. However, Yoo Young-mo's thought goes further, seeking to expand reverence for nature into love for all humanity and life. Some cultural historians note that Kyushu, Japan's southernmost island, symbolizes "nine provinces," with the number nine representing completion and fullness in East Asian tradition. In this context, some interpret the 81 characters of Cheonbugyeong, our indigenous thought, as a cultural and symbolic connection to the significance of nine. However, it is essential to distinguish that such connections fall within the realm of symbolic and cultural interpretation rather than established historical or religious doctrine. The key point is not the number itself but the shared way of thinking across various East Asian cultures that sought to express the order of nature and the universe through numerical symbolism. The most significant question Shinto poses to us today is not about religion but about civilization. How will humanity relate to nature? Since the Industrial Revolution, humanity has become accustomed to viewing nature as a target for conquest. While achieving remarkable economic growth, we have also inherited the immense challenges of climate change and ecological destruction. Now, we need a philosophy of coexistence, not just growth. In this regard, the spirit of reverence for nature in Shinto has implications for modern civilization. While there is no need to adopt Shinto as it is, the historical distortions shown by modern state Shinto remain a clear lesson. However, a culture that respects nature, values community, and commemorates significant life moments with gratitude and moderation can serve as a source of reflection for us today. Korea has also maintained community cultures such as mountain deity worship, Dangsanje, Seonghwangje, and communal labor traditions for many years. Although many traditions have weakened amid rapid industrialization and urbanization, their spirit has not entirely vanished. The future will require wisdom not to restore traditions as they were but to modernize the values of life and community embedded within them. Ultimately, the core message of the three-part series on Shinto can be summarized in three points. First, nature is not a domain for human domination but a foundation for living together. Second, community is not sustained solely through competition but through rituals, memory, gratitude, and sharing. Third, any spirituality that becomes a tool of power loses its original purity. We must learn from the light of Shinto while guarding against its shadows. Love nature without idolizing it, respect tradition without succumbing to exclusionary nationalism, and protect community without losing human freedom and dignity. This is the wisdom that East Asian civilization has accumulated over the years and a value that humanity must reaffirm today. Truth begins with reverence for nature, justice grows from responsibility to the community, and freedom is only fulfilled when it respects conscience and life. The long journey of Shinto ultimately reminds us all of this ancient truth. This is the final message the three-part series on the Spiritual Essence of Asia aims to convey to its readers.* This article has been translated by AI. 2026-06-27 09:00:00 -
Death Toll from Venezuelan Earthquake Rises to 920 More than 900 people have died in a series of earthquakes in Venezuela within two days.On June 26, Jorge Rodriguez, the President of the National Assembly, announced in a televised address that the death toll had risen to 920. He also reported that the number of injured had increased to 3,360, with over 4,000 people displaced.This increase in fatalities came just hours after Acting President Delsy Rodriguez had reported 589 confirmed deaths.The rising casualty figures are attributed to the deployment of military personnel and international rescue teams to assist in recovery efforts.Rodriguez stated that 1,423 buildings across the country have been identified as damaged, noting that both residential structures and facilities such as hospitals and commercial establishments have been severely affected.He emphasized that over 2 million food rations have been distributed to support citizens and families impacted by the earthquake.Meanwhile, the United Nations has reported that more than 50,000 people are missing as a result of the disaster. Tom Fletcher, the UN's Assistant Secretary-General for Humanitarian Affairs and Emergency Relief, told AFP that the search for survivors among the rubble will be a monumental task due to the high number of missing persons.* This article has been translated by AI. 2026-06-27 08:52:00 -
AI Revolution in Finance: South Korea's Path to Becoming an AI Powerhouse The competition in artificial intelligence (AI) is both a technological and capital race. Without substantial long-term investment, even the most talented researchers and innovative technologies struggle to survive in the global market. Companies like OpenAI and NVIDIA in the U.S. and Baidu and DeepMind in China have thrived thanks to significant financial backing.The role of finance in the AI era extends beyond merely lending money to businesses. It is evolving into a strategic industry that designs the future of national industries and safeguards technological sovereignty. Lee Ok-keun, the chairman of the Financial Services Commission, has outlined a vision to transform finance into the engine of South Korea's AI competitiveness.He plans to provide over 50 trillion won in policy finance over the next five years for the AI and semiconductor sectors, nurture a Sovereign AI ecosystem through the National Growth Fund, and innovate the financial industry to be AI-centric. The Financial Services Commission is expanding its role from merely managing finance to becoming a strategic headquarters for developing South Korea's AI industry.The question is clear.Can South Korea's finance become a growth engine that creates an AI powerhouse rather than just supporting the AI industry?A new era has begun where finance leads industry.In the past, finance followed industry.The primary role was to supply funds when companies grew and support restructuring when they faced difficulties.In the AI era, this order is changing.AI semiconductors, large-scale AI models, and data centers require massive initial investments, but profits take a long time to materialize.This is a field that private finance alone cannot manage.Chairman Lee addresses this reality with the concept of 'industrial finance.' He emphasizes the need to evolve from finance focused on financial statements and collateral to investing based on technological capability and growth potential. AI operates as a new national infrastructure, similar to electricity and the internet, and finance must adapt accordingly.We are transitioning from an era where finance supports industry to one where finance creates industry. 50 trillion won in policy finance will fuel the AI industry.Chairman Lee's flagship policy is the large-scale provision of policy finance for the AI and semiconductor sectors.The government plans to supply over 50 trillion won in funding to the AI ecosystem through the National Growth Fund and policy finance over the next five years.This support will encompass the entire AI value chain, including AI semiconductors, foundational models, AI data centers, and application services.The National Growth Fund is already executing large-scale investments in the AI sector, supporting AI semiconductor companies, large-scale AI firms, and the establishment of national AI computing infrastructure.This is not merely corporate support.It is a national investment aimed at nurturing the entire South Korean AI industry.In the AI era, having capital that can sustain investment is a more critical competitive advantage than merely possessing good technology. Sovereign AI: Finance safeguards technological sovereignty.One of Chairman Lee's frequently used terms is 'Sovereign AI.'He emphasizes that securing independent AI models, data, and computational infrastructure is a matter of national security and technological sovereignty, beyond just industrial competitiveness.Thus, the second mega-project of the National Growth Fund includes not only AI semiconductors but also data centers, foundational models, and application services as part of the Sovereign AI initiative.The support for domestic AI semiconductors, national AI computing centers, and the development of Korean-style large language models through policy finance stems from this rationale.In the AI era, finance is not just about providing funds; it is a national strategy for technological independence. Finance will also be reborn through AI.Chairman Lee's AI policies do not stop at supporting the AI industry.Innovating the financial industry itself to be AI-centric is also a crucial goal.The Financial Services Commission is promoting the establishment of financial AI platforms, expanding data utilization, training AI professionals, and improving regulations to facilitate the AI transition in the financial sector.In particular, they are refining systems to ensure that financial companies can safely utilize generative AI and are updating regulations that hinder AI utilization to align with the changing times. In the future, banks will not merely be places to deposit and borrow money.They will evolve into intelligent financial platforms where AI analyzes customer risks, manages assets, and detects financial fraud in real-time. AI startups seek pathways to global markets.The most significant challenge faced by South Korean AI companies is funding.Many have fallen behind in global competition despite having excellent technology due to a lack of large-scale investments.Chairman Lee aims to change this structure through the National Growth Fund.He is expanding direct investments in AI semiconductors, generative AI, and AI infrastructure companies while establishing a system to provide long-term venture capital to deep-tech firms. He stated, "AI is not a short race with quick results; it requires both venture capital and patient capital." AI unicorns are not created solely through technology.They require financial backing that believes in and invests in technology until the end.Productive finance will create an AI nation.Chairman Lee has identified 'productive finance' as the core of this year's financial policy.He aims to redirect funds that have been stagnant in real estate and short-term investments toward national strategic industries like AI, semiconductors, biotechnology, and future mobility.The National Growth Fund is expanding its investment scope beyond AI to include biotechnology, OLEDs, future mobility, defense, and the Saemangeum advanced belt, linking national growth strategies with finance. AI will transform manufacturing, healthcare, education, and defense.Finance is the lifeblood that enables these changes.Productive finance is ultimately the funding source for South Korea's transition into an AI nation.The ultimate goal of AI finance is the well-being of the people.The AI financial revolution aims not only to support industries but also to provide citizens with safer and more convenient financial services.AI can enhance the accuracy of loan assessments, quickly detect financial fraud, and offer personalized asset management services.Financial institutions will increase productivity, and citizens will enjoy better financial services.The final goal of the AI financial revolution is to create a structure where finance that nurtures industries and finance that serves the people develop together.Chairman Lee's AI policies are not merely about managing finance.They are a national growth strategy for designing South Korea's future.The 50 trillion won in policy finance, Sovereign AI, the National Growth Fund, and the transition of finance to AI all aim toward a single goal.That goal is to establish South Korea as a leading AI nation.In the AI era, countries that can nurture technology to its fullest potential are likely to become stronger than those that merely possess technology.Finance plays a crucial role in this endeavor.The AI financial revolution led by Chairman Lee is not just a change in the financial industry; it represents a new growth strategy that will transform the entire industrial structure of South Korea. Chairman Lee Ok-keun has a background in economic administration, having served as the Vice Minister of Strategy and Finance before becoming the Chairman of the Financial Services Commission. Since taking office, he has been pursuing policies that reposition finance as a key tool for nurturing the nation's advanced industries.He is leading initiatives to provide over 50 trillion won in policy finance for the AI and semiconductor sectors over the next five years, establish a Sovereign AI ecosystem through the National Growth Fund, make direct investments in AI semiconductors and large-scale AI companies, and facilitate the AI transition in the financial industry.His goal is to evolve finance from a mere funding function into a strategic platform that enhances South Korea's AI national competitiveness.* This article has been translated by AI. 2026-06-27 08:44:00 -
Yoo Si-min Critiques President Lee's Overconfidence in Unity Efforts Yoo Si-min, former chairman of the Roh Moo-hyun Foundation, commented on President Lee Jae-myung's emphasis on inclusivity and efforts to expand support among centrist and conservative voters. He stated, "While it is desirable for the president to be a leader for all, it seems that his confidence may have been excessive."According to political sources, Yoo made these remarks during a June 26 appearance on the YouTube channel 'Kim Eo-jun's Dasboida.' He noted that President Lee frequently uses terms like 'president for everyone' and 'inclusivity and unity.'Yoo explained, "What the supporters who fervently backed the president wanted was an expansion, not a complete overhaul. They were okay with adding another floor to a three-story house, but it seems the president aimed for a complete reconstruction."He continued, "To undertake a reconstruction, one must demolish the existing structure. Critics have been brought in to dismantle the core supporters of the democratic reform camp, which has been under attack." This comment appears to reference online assaults by the so-called 'New Lee Jae-myung' faction against prominent figures associated with former President Moon Jae-in, including Yoo Si-min and others.Yoo added, "The immune cells should be fighting off external bacteria or viruses, but for about a year, they have been attacking their own normal cells. As a result, I diagnose that there are now metabolic issues."He pointed out that public disparagement of former presidents has been openly occurring within the party for over six months, with no one stepping up to confront it. He mentioned a term circulating now, 'Moon-bashing bonus,' suggesting that criticizing Moon Jae-in earns political points.Yoo remarked, "What is happening in the Democratic Party now is quite similar to when the People Power Party circulated a petition against Na Kyung-won’s candidacy in the past. What is the difference from when they threatened Ahn Cheol-soo by saying, 'If you do nothing, nothing will happen'?"He clarified, "I am not trying to criticize the president harshly. I have considered him a fairly decent supporter and still do. The only person who can cleanse this autoimmune disease is the president himself. Just carry out the prosecution reform. 'Lee Jae-myung will do it,' right? It’s not too late."* This article has been translated by AI. 2026-06-27 08:36:00 -
AI and Digital Assets Transforming Local Banking into 'Crypto Banks' AI is rewriting the competitive landscape of the financial industry. A bank's competitiveness is no longer determined solely by the number of branches or the size of its assets. The future hinges on how effectively data is utilized, how well AI is integrated into the organization, and how proactively new financial ecosystems are prepared.For regional banks, this challenge is even more urgent. To survive between mega banks in metropolitan areas and internet-only banks, a differentiated growth strategy is essential. Park Chun-won, president of Jeonbuk Bank, declared 'transformation' upon his appointment, emphasizing the enhancement of digital and AI competitiveness as a core management task.Taking it a step further, he has proposed a groundbreaking vision of transforming Jeonbuk Bank into a 'Crypto Bank,' preparing a new model for regional banks that combines AI and digital assets. His plan, which includes the introduction of AI agents, financial services for digital assets, and the advancement of foreign financial services, is gaining attention as a new survival strategy for local banks.The starting point for change was 'transformation.'Park Chun-won announced the 'Jeonbuk Bank Transformation' as his first statement upon taking office. He presented seven key strategies aimed at further enhancing qualitative growth centered on profitability, including asset portfolio innovation, advanced risk management, strengthening digital and AI competitiveness, and securing future growth engines. Among these, AI was identified as the most critical element.He defined AI not merely as a digital technology but as a driving force for innovation that transforms the bank's very structure. This declaration goes beyond applying AI to certain services; it aims to innovate the organization, operations, and business models as a whole.AI enhances human productivity, not replaces it.Park Chun-won clarified that the AI he envisions is not a flashy chatbot. He plans to introduce AI agents based on generative AI to change how employees work. AI will handle repetitive tasks such as document creation, information retrieval, and operational support, allowing employees to focus on customer consultations, sales, and creating new value.He emphasized that AI will minimize human error and maximize work efficiency. Ultimately, his philosophy is that AI is not a technology that replaces people but a tool that enhances human productivity.A bold vision for 'Crypto Banks.'The most notable aspect of Park Chun-won's strategy is the connection between AI and digital assets. He has publicly proposed transforming Jeonbuk Bank into a 'Crypto Bank.' His plan includes pioneering domestic-level virtual asset-backed loans, participating in stablecoin projects, developing financial products for digital assets, and collaborating with virtual asset exchanges to capture new financial demand.His strategy, particularly the strategic partnership with Gopax and the expansion of collaborations with fintech companies, is viewed as an unusual approach within traditional finance, aiming to proactively respond to regulatory changes. Park Chun-won believes that the future of finance in the AI era cannot be separated from digital assets.AI revolutionizing foreign financial services.Jeonbuk Bank has already established a differentiated competitive edge in the foreign financial sector. Park Chun-won is integrating AI to create a new growth model. His goal is to elevate the bank to the position of 'the number one bank for comprehensive foreign financial services' through the expansion of foreign financial lounges, enhancement of the 'Bravo Korea' app, and the integration of online and offline services. Customized services utilizing AI and innovations in digital channels could provide regional banks with new competitive advantages to attract nationwide customers. He believes that regional banks can overcome physical limitations by leveraging AI.Future finance connecting AI and investment banking.Park Chun-won is transferring his experience in corporate finance and investment banking from his time as CEO of JB Woori Capital to Jeonbuk Bank. He aims to diversify the bank's portfolio beyond a real estate project finance focus to include corporate finance, acquisition finance, venture capital, and securities.AI plays a crucial role in this innovation in corporate finance, serving as a key tool for enhancing data-driven corporate analysis, risk management, and the ability to identify future industries. He is working to build a differentiated corporate finance competitiveness for Jeonbuk Bank by combining AI and investment banking.The essence of financial entrepreneurship.Park Chun-won's entrepreneurial vision for finance can be summarized as 'preparing for the future first.' He does not view AI merely as a cost-cutting tool. Instead, he is pursuing a comprehensive strategy that aims to achieve operational innovation through AI, grow digital assets into a new financial market, and simultaneously develop foreign financial services and corporate finance. He believes the era of regional banks merely following metropolitan banks is over.Instead, he asserts that it is essential to seize the new market of AI and digital assets first. The transformation Jeonbuk Bank is pursuing is not just a digital transition but a challenge toward a future financial ecosystem. If Park Chun-won's experiment succeeds, Jeonbuk Bank could leap beyond being a regional bank to become a leading future-oriented financial institution in the era of AI and digital assets.SWOT AnalysisStrengthsPark Chun-won is an innovative CEO who has proposed both AI and digital assets as future growth pillars. He possesses a differentiated vision with the introduction of AI agents, the Crypto Bank strategy, and the enhancement of foreign financial services, along with strong experience in corporate finance and risk management from JB Woori Capital.WeaknessesThe regulatory uncertainty surrounding Crypto Banks and stablecoins remains significant, and as a regional bank, there are limitations in investment capacity and data scale. The AI strategy is also in the execution phase, with the need to prove its effectiveness.OpportunitiesThe institutionalization of digital assets and the spread of AI finance present new growth opportunities for Jeonbuk Bank. If successful in foreign financial services, AI-driven operational innovation, and diversification of corporate finance, it could present a new growth model for regional banks.ThreatsOngoing risks include volatility in the virtual asset market, intensified AI competition from internet-only banks and large banks, and a slowdown in regional economic growth. The digital asset strategy remains subject to significant regulatory changes, adding to the uncertainty.* This article has been translated by AI. 2026-06-27 08:28:00 -
Understanding Shinto: The Spiritual Essence of Japan's Shrines and Festivals The second key to understanding Shinto in Japan is the shrine (神社). The foundation of Shinto lies in the sacredness of nature. The belief that sacred energy resides in mountains, seas, forests, rivers, rocks, waterfalls, the sun, and the wind is at the root of Shinto. However, for the sacredness of nature to be integrated into people's lives, a space was needed to remember, honor, and repeatedly encounter it. This space is the shrine. A shrine is not merely a religious structure; it is a site of Japanese spirituality that connects nature and humanity, ancestors and descendants, and the community with the sacred.Upon entering a shrine, the first thing one encounters is the torii (鳥居). This gate, often painted red or made of wood, serves as a powerful symbol of Shinto. The torii is not just an entrance; it marks the boundary between the mundane and the sacred. As individuals pass through the torii, they momentarily set aside the noise and desires of everyday life. They step back from the world of commerce, competition, anger, and fatigue, entering with a heart prepared to stand before the divine. Shinto is not a verbose religion, yet the torii speaks volumes, urging visitors to change their mindset.The significance of the torii lies in Shinto's emphasis on space. Unlike Buddhism's sutras or Christianity's Bible, Shinto lacks a single authoritative scripture. Instead, it expresses itself through space, rituals, gestures, and repetition. Bowing before the torii, walking the worship path, washing hands and mouth, and bowing and clapping before the shrine are all acts of faith. The Japanese embrace the divine not through lengthy explanations but by lowering themselves within sacred spaces.At the entrance of a shrine, there is usually a water basin known as temizuya or chozuya. Worshippers wash their hands and rinse their mouths there. This act is not merely hygienic; in Shinto, water symbolizes purification. As people navigate daily life, their minds become scattered, bodies dirty, and relationships strained. Before standing before the divine, they must first cleanse themselves. Washing hands signifies a desire for clarity in action, while rinsing the mouth indicates a commitment to careful speech. Shinto's purification rituals convey that to encounter the sacred, one must first empty oneself.The basic etiquette of shrine worship is also deeply meaningful. Typically, it involves bowing twice, clapping twice, and bowing once more. While specific practices may vary by shrine, this fundamental structure embodies the spirit of Shinto. Bowing is an act of humility, clapping announces one's presence to the divine and awakens the heart, and the final bow expresses gratitude and commitment. This is not a plea for blessings but an act of self-restraint and a reaffirmation of one's heart before the sacred order.Shrines usually consist of a main hall and an offering hall. The main hall is where the kami (神) is enshrined, while the offering hall is where people present their prayers. However, the essence of a shrine extends beyond its buildings. The surrounding forest, worship paths, ancient trees, stones, water, and wind are all integral parts of the shrine. Particularly, the forest surrounding the shrine exemplifies Shinto's view of nature. Shrines are not built within nature but are carefully crafted spaces to preserve its sacredness. The shrine's forest is not mere landscaping; it is a sacred grove.Ise Jingu (伊勢神宮) is a prime example of such Shinto spaces. Considered one of the most sacred shrines for the Japanese, it is known as the home of the sun goddess Amaterasu and has deep ties to the Japanese imperial family. However, Ise Jingu's significance goes beyond its authority. It is not about preserving old buildings indefinitely; rather, it is rebuilt periodically to continue traditions. While the structures are renewed, their form and spirit endure. The wood may change, but the craftsmanship remains. This reflects Shinto's philosophy of renewal, suggesting that eternity lies not in clinging to the old but in continuing anew without losing spirit.Fushimi Inari Taisha (伏見稲荷神社) in Kyoto showcases the popular face of Shinto. The sight of countless red torii lining the mountain paths is one of the most recognized symbols of Japan. Inari, the deity of agriculture, abundance, and commerce, has long been revered. In agrarian societies, people prayed for bountiful harvests, while in commercial societies, they sought prosperity in business. Thus, Shinto's kami are not confined to abstract doctrines; they are woven into the fabric of people's lives, work, food, and dreams. Shinto remains close to the lives of the Japanese.Meiji Jingu (明治神宮) in Tokyo carries another significance. Dedicated to Emperor Meiji and Empress Shoken, it is nestled within a vast forest in the heart of the city. Meiji Jingu illustrates how Shinto is connected to the modern state and shows how contemporary Japanese seek silence of nature even in urban settings. Many people visit the shrine for their first worship of the New Year, hold weddings, and mark significant life events there. Shinto continues to thrive within the rituals of Japanese life.Shrines are also tied to ancestor worship. In Shinto, ancestors are not merely the deceased; they are the roots of families and communities, watching over the lives of their descendants. Ancestor worship reminds individuals that they are not solitary beings but part of a continuum. We are descendants of someone and ancestors to others. Shinto's ancestor worship strengthens this sense of continuity, emphasizing that today's individual is not disconnected from the past but is part of a lineage of memory, blood, and community.From a Korean perspective, this notion is not unfamiliar. We also have traditions such as mountain spirits, village shrines, and ancestor rites. The large trees at village entrances are considered sacred, and offerings are made to mountains and rivers. East Asian agrarian civilizations did not separate nature from ancestors. The shrine culture of Shinto institutionalizes and spatializes this East Asian sensibility in a uniquely Japanese way. However, Japan has maintained this in the form of shrines, while Korea has preserved it diversely within Confucianism, Buddhism, shamanism, and folk beliefs.The power of shrines lies in repetition. People visit shrines at the New Year, bring newborns for blessings, and return for milestones such as school entrance, employment, marriage, and business ventures. This cannot be dismissed as mere superstition. At significant moments, individuals need to realign their hearts before a greater order. Shrines serve as stations for such reflection, allowing people to pause in their busy lives, cleanse themselves, bow, express gratitude, and begin anew.However, shrine culture has not always existed purely as a natural spirituality. While shrines were the center of local communities, they have also been linked to state power in modern times. It is crucial to view both the original meaning of shrine culture and its potential historical distortions with balance. Shrines can be beautiful spaces connecting nature, ancestors, and community, but they can also become dangerous mobilization tools when intertwined with nationalism. Spirituality should humble humanity, not become a tool for absolute power.■ Matsuri: The Spiritual Festivals that Energize Japanese CommunitiesIf shrines represent spatial spirituality, then matsuri (祭り) embodies dynamic spirituality. While shrines create sacred spaces, matsuri brings that sacredness into the community. Matsuri is a festival, but it is more than mere entertainment. It is a ritual where the divine meets humanity, a communal act of self-affirmation, and a cultural device that binds together seasons, labor, and memory. Understanding matsuri is essential to grasping the communal spirit of the Japanese.Matsuri begins with gratitude and prayer. In agrarian societies, humans depended on nature. Rain had to arrive on time, typhoons had to pass, rice had to ripen, and the sea had to be abundant. While people worked hard, they could not obtain food without nature's permission. Thus, villagers prayed for abundance and offered thanks after harvests. Matsuri was born from this rhythm of gratitude and prayer, representing a way for humans to humble themselves before nature.Matsuri often features a mikoshi (神輿), a portable shrine. People carry the mikoshi, believed to be the vessel of the deity, through the village. The sounds of drums and flutes, cheers, parades, dances, food, lanterns, and flags create a vibrant scene. This is not merely a spectacle; it signifies that the divine does not remain confined to the shrine but traverses the entire community. The deity is not trapped within the shrine but emerges into the alleys, markets, homes, fields, and beaches. Matsuri extends sacredness throughout the community.In this process, individuals reaffirm their connection to the community. Matsuri cannot be done alone. Some carry the mikoshi, others prepare food, some clear the path, others care for children, some play drums, and others offer prayers. The festival embodies a hierarchy of roles. Everyone is both a protagonist and a supporter. This is the social power of matsuri. People who usually live separately come together as one village through the festival.The sense of order and cooperation in Japanese society is deeply connected to this tradition of matsuri. Matsuri teaches people about communal rules. If one acts independently, the procession collapses. If one neglects their role, the whole is disrupted. When carrying the mikoshi, everyone must synchronize their movements. No one can exert excessive force, nor can anyone fall behind. This is a training for the community. While matsuri takes the form of enjoyment, it also embodies ethics of responsibility and cooperation.Matsuri serves as a repository of regional identity. Each region in Japan has its own unique matsuri. Festivals like Kyoto's Gion Matsuri (祇園祭), Osaka's Tenjin Matsuri (天神祭), Tokyo's Kanda Matsuri (神田祭), Aomori's Nebuta Matsuri, and Sapporo's Snow Festival reflect the history, climate, and livelihoods of their areas. Some festivals began to ward off epidemics and disasters, while others have continued to pray for bountiful catches and harvests. Matsuri is how regions remember themselves.In this sense, matsuri is not merely a tourist attraction. While many matsuri have become vital resources for tourism and local economies today, their roots lie in communal memory. The fact that a village has maintained the same festival for hundreds of years signifies that it has not forgotten its story. Festivals preserve memories that are easily lost in physical form. They represent a history that is not read but lived through walking, carrying, singing, eating, and dancing.Shinto's ancestor worship also comes alive within matsuri. Many Japanese festivals honor not only nature deities but also the memories of ancestors and forebears who have protected the village. Ancestors do not remain in the past; they live within the ethics and order of the community. Through festivals, descendants express gratitude to their ancestors and realize that they too will one day be remembered. This creates a community across time, uniting the living and the dead, the past and the present, and the future within a single order.The relationship between Shinto and Buddhism is also significant here. For centuries, Shinto and Buddhism have influenced each other in Japan, a phenomenon known as Shinbutsu Shugo. Deities have sometimes been interpreted as manifestations of Buddhas, and Shinto shrines and Buddhist temples have coexisted in the same space. People pray for blessings in life at shrines while entrusting matters of death and the afterlife to Buddhism, harmonizing their religious practices in daily life. While this may seem contradictory doctrinally, it has been a natural coexistence in practice. The Japanese worldview prioritizes practical harmony over exclusive faith declarations.This religious flexibility is both a strength and a limitation of Japanese culture. The strength lies in tolerance and harmony, allowing various beliefs and rituals to coexist in daily life. However, the limitation is the ambiguity of principles. When religion remains merely a custom of life, it may not sufficiently reflect on the risks of its combination with power. The history of Shinto's entanglement with modern nationalism must be revisited from this perspective.However, what we must focus on is how shrines and matsuri have sustained the lives of the Japanese. Shrines are spaces of stillness, while matsuri represent times of movement. Shrines are places for individuals to cleanse their hearts, while matsuri are times for communities to align their bodies. Shrines humble individuals before nature and ancestors, while matsuri teach how to live together with neighbors. Together, these elements have deeply rooted Shinto in the lives of the Japanese.Modern society is rapidly dismantling communities. Urbanization weakens villages, and digital civilization connects people while simultaneously isolating them. People are connected all day but are losing a sense of deep belonging. In this era, shrines and matsuri pose questions: Is individual freedom sufficient? Can healthy individuals exist without the memory of community? Can society endure without festivals and rituals?Korean society cannot escape these questions either. We also have traditions of village communities, including village rites, communal labor, seasonal customs, and holidays. However, rapid industrialization and urbanization have led to the disappearance of many of these practices. There is no need to unconditionally envy Japan's matsuri. However, we should reconsider the power of rituals and festivals that maintain community. People do not live by bread alone. They do not live by work alone. People become part of a community through shared memories, gratitude, and joy.The greatest lesson from shrines and matsuri is the 'restoration of relationships.' It is about reconnecting the relationships between humans and nature, the living and the ancestors, individuals and communities, and the mundane and the sacred. Modern individuals have gained much but lost relationships. Nature has become a resource, ancestors have become mere photographs, neighbors have become anonymous others, and festivals have become consumer events. Shinto's shrines and matsuri prompt us to rethink these lost connections.Of course, we do not need to accept Shinto as it is. Shinto, shaped by Japan's history and culture, belongs to Japan. However, the reverence for nature, the memory of ancestors, the responsibility to the community, the sense of purifying space, and the culture of celebrating seasons are all values worth reflecting on across East Asia. We should learn from the good and be wary of the dangerous. This is the attitude of truth, justice, and freedom.Ultimately, the second face of Shinto is community. While 20 aspects of Shinto speak of the sacredness of nature, the 21st aspect shows how that sacredness lives and moves among people. Shrines create sacred spaces, torii establish boundaries, purification rituals cleanse the heart, worship humbles humanity, and matsuri reunite the community. All these elements together form the spiritual essence of the Japanese way of life.* This article has been translated by AI. 2026-06-27 07:04:00 -
South Korea Falls to 7th Place as Senegal Defeats Iraq 5-0 South Korea's chances of advancing to the knockout stage have diminished further after Senegal's decisive victory over Iraq. Senegal's win pushed South Korea down from third to seventh place in the group standings based on goal difference. On June 27, Senegal triumphed over Iraq with a score of 5-0 in their final group match at Toronto Stadium. Senegal finished the group stage with one win and two losses, earning three points, while scoring eight goals and conceding six, significantly bettering South Korea's goal difference of -1. Consequently, South Korea fell to seventh place among the eight third-place teams eligible for advancement. Iraq, having lost all three matches, finished last in the group without any points. South Korea had hoped for a draw in this match, as a win for Iraq would have favored their chances. From the outset, Senegal took control, scoring just four minutes into the match. Iraq's defender, Levin Sulaka, received a red card for a foul on Sadio Mané in the 13th minute, leaving Iraq at a numerical disadvantage. In the second half, Senegal extended their lead with goals from Ismaïla Sarr in the 56th minute and Pape Gueye, who scored twice, making it 4-0 by the 71st minute. Ilyas Ndiaye capped off the scoring with a goal in the 82nd minute, sealing the 5-0 victory. As a result, the South Korean men's national football team's chances of qualifying for the 2026 FIFA World Cup in North America have significantly decreased. The tournament has expanded to 48 teams, with the top eight third-place teams from the 12 groups advancing to the knockout stage. Rankings are determined by points, goal difference, goals scored, and fair play. Five more groups, G, H, J, K, and L, have yet to complete their final matches. South Korea can only hope for no additional third-place teams to outperform them in these groups to maintain any chance of advancing. Meanwhile, on the prediction market platform Polymarket, investors estimate South Korea's chances of reaching the knockout stage at 26%. The likelihood of advancing to the Round of 16 is pegged at 11%, while the chance of making it to the semifinals stands at 6%. Polymarket is a decentralized prediction market based on virtual assets, where users bet on outcomes and profit by accurately predicting results.* This article has been translated by AI. 2026-06-27 06:44:00 -
Korean Stock Market Faces Volatility Amid U.S. Employment Data and Semiconductor Expectations Domestic stock markets have experienced extreme volatility, marked by significant declines and sharp rebounds. This week, U.S. employment data, domestic exports, and expectations for semiconductor performance are expected to be key factors influencing market direction. Analysts suggest that while short-term volatility may persist, the earnings momentum centered around semiconductors remains strong, indicating a need for a focus on large-cap stocks supported by solid performance. On June 26, the Korea Exchange reported that the KOSPI closed at 8411.21, down 519.09 points (5.81%) from the previous trading day. Over the week from June 22 to June 27, the KOSPI fell 7.08%, while the KOSDAQ dropped 11.92%. The KOSPI recorded its largest single-day drop of 9.99% on June 22, followed by rebounds of 3.26% and 5.42% on June 24 and 25, respectively. However, it fell again by 5.81% on June 26, resulting in an unprecedented situation where circuit breakers were triggered twice in one week, creating a rollercoaster market. Last week, the stock market plummeted due to a combination of concerns over additional interest rate hikes by the U.S. Federal Reserve, profit-taking, end-of-quarter rebalancing, and controversies surrounding unrealized gains taxation. Following this, Micron reported earnings and guidance that significantly exceeded market expectations, reviving optimism about the memory semiconductor sector and improving investor sentiment towards semiconductor stocks. However, traditional leading sectors such as automotive and shipbuilding faced substantial corrections, and the KOSDAQ continued to struggle due to capital outflows and declining performance expectations. Market participants are also paying attention to structural changes in the memory semiconductor industry. Micron has announced an expansion of long-term supply contracts and minimum price guarantees, confirming a shift in the memory industry toward long-term contract-based operations rather than short-term price cycles. This has raised expectations for improved earnings visibility for Samsung Electronics and SK Hynix. Analysts suggest that upward revisions in companies' earnings per share (EPS) forecasts could lead to an overall improvement in KOSPI earnings projections. Next week, several significant events are scheduled. On June 29, a 24-hour pilot trading session for the Korean foreign exchange market will commence. On July 1, June export and import figures, along with the U.S. ISM manufacturing index for June, will be released. Additionally, from July 1, a three-day event celebrating the 30th anniversary of KOSDAQ and 'KOSDAQ Connect 2026' will take place. On July 2, the U.S. will announce new non-farm payrolls and unemployment rates for June, which are expected to influence the Fed's monetary policy outlook. Furthermore, the implementation of a revised delisting system starting in July has raised interest in potential improvements in the domestic stock market's structure. Lee Jae-won, a researcher at Yuanta Securities, stated, "This correction is more about resolving technical overheating than damaging fundamentals. The trends in semiconductor exports, memory prices, and EPS estimates remain upward. The key variable this week is the U.S. employment report, and an approach focused on large-cap KOSPI stocks where earnings and supply-demand are confirmed in semiconductors, IT hardware, and banking is advisable." Na Jeong-hwan, a researcher at NH Investment & Securities, noted, "The sharp drop on June 23 was an event-driven fluctuation caused by multiple adverse factors coming together, but it does not change the overall market direction. Ultimately, stock prices are determined by earnings, so it is essential to maintain a strategy of increasing exposure to sectors with high earnings visibility." However, some analysts have advised a more cautious approach given the volatility. Jo Byeong-hyeon of Daol Investment & Securities remarked, "In July, rather than expecting a trend of new highs, it is advisable to adopt a trading perspective that utilizes volatility. The U.S. employment data to be released on July 2, along with key economic indicators such as the consumer price index (CPI) and producer price index (PPI) scheduled for July 14 and 15, could significantly influence the Fed's policy expectations, so it is important to remain vigilant. He added that while focusing on semiconductors with solid earnings expectations, attention should also be given to the retail and securities sectors.* This article has been translated by AI. 2026-06-27 06:04:00