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Trump Administration to Maintain 10% Global Tariff Amid Legal Appeals The Trump administration's 10% global tariff, introduced to fill a gap in reciprocal tariffs, is likely to remain in effect until its scheduled expiration in late July. On June 11, the U.S. Court of Appeals for the Federal Circuit ruled that the Trump administration could continue collecting the 10% global tariff while the appeal is pending. This decision temporarily halts a previous ruling by the U.S. Court of International Trade that deemed the tariff unlawful. The ruling allows the continued collection of tariffs from two importing companies and the state of Washington, which had previously won in the lower court. The lower court had determined on May 7 that the 10% global tariff exceeded legal authority, but it did not apply a ban on tariff collection to all importers. The appeals court noted that the Trump administration's appeal could be accepted in the main case and that halting the tariff collection could cause irreparable harm to the federal government. The appeals court had previously suspended the lower court's ruling on May 12. The contentious 10% global tariff was imposed by President Trump in February under Section 122 of the Trade Act, which allows the president to impose additional tariffs of up to 15% for a maximum of 150 days without congressional approval in cases of significant balance of payments issues. During this period, the Trump administration is seeking to establish a more permanent basis for tariffs under Section 301 of the Trade Act. On June 2, the Office of the United States Trade Representative (USTR) announced the results of a Section 301 investigation targeting 60 economic zones, citing insufficient measures to ban imports of goods produced with forced labor. The USTR proposed a 10% additional tariff for economic zones that have established or committed to a ban on forced labor goods, while suggesting a 12.5% tariff for others. South Korea falls under the 12.5% tariff category. However, this proposal is not final and is currently in a comment period, with the USTR set to accept written comments until July 6 and hold a public hearing on July 7.* This article has been translated by AI. 2026-06-12 07:36:00 -
Former Lawmaker Min Byung-du Launches New Theater Company Unexpected second acts can emerge in life. Many believe that once individuals reach the pinnacle of social success, they enter a phase of winding down. However, some choose to view this juncture as a new starting line. Instead of merely wearing their past achievements like medals, they embark on new dreams. This was evident in the recent founding of the Gold Grass Theater by former lawmaker Min Byung-du, who staged the inaugural play "Unruly Youth." This theater's establishment is not just a cultural endeavor; it symbolizes how an individual can design and pursue their second life. When discussing Min Byung-du, many first think of him as a politician. However, his life is far more complex and multifaceted than that single label. He was an activist during his student years, participated in the democracy movement, became a journalist chronicling the times, and later served as a member of the National Assembly. Now, he is opening a new chapter in the world of culture and arts. While these paths may seem distinct, a consistent thread of concern for people, society, and community runs through them. His youth coincided with a tumultuous period in modern Korean history, marked by a vigorous student movement demanding democracy during military rule. In an era where simply speaking freely could be dangerous, young advocates for democracy and human rights often faced imprisonment or had to risk their futures for resistance. Min Byung-du was part of this generation. Today, democracy is taken for granted, but for those young people at the time, it was not just a concept in textbooks; it was a matter of life and belief. This experience became a foundational aspect of his life. He later chose the path of journalism, serving as a reporter and political editor for the Cultural Daily and as a Washington correspondent, closely covering Korean politics and international affairs. A journalist is not merely a conveyor of facts; they interpret events, analyze the words and actions of politicians, and assess the direction of the nation and society. Through this process, he naturally developed strategic thinking, which would later contribute to his reputation as a policy expert and strategist in politics. After entering politics, he served multiple terms in the National Assembly, distinguishing himself in policy and strategy. He focused particularly on issues directly affecting everyday life, such as economic democratization, consumer finance, household debt, and consumer protection. Through his work on the National Assembly's Political Affairs Committee, he emphasized the health of financial markets and consumer rights while consistently showing interest in the changes brought by the digital economy and platform industries. Within political circles, he was often regarded as a strategist, known for his ability to read electoral trends and for his long-term vision in policy design. However, his true strength lay in his focus on people's lives rather than on power itself. His philosophy that politics should serve people did not change after he left the National Assembly; rather, it expanded into broader realms. Unlike many politicians who limit themselves to lectures or advisory roles after leaving office, he boldly ventured into new fields. One notable example is his work as a senior model. When this news first emerged, many were surprised. However, Min Byung-du was not overly concerned with others' opinions. He believes that giving up on challenges due to age is the true definition of aging. Stepping onto the senior modeling stage is not merely about wearing clothes and walking; it is another form of cultural expression. Through this platform, he demonstrated that new dreams can be pursued at any age. He actively participated in various senior fashion events and cultural programs, embodying a new life in old age. In a rapidly aging South Korea, he has presented a model for how seniors can live. His senior modeling activities are not just a personal hobby but carry a social message: life does not end with retirement, and new challenges are ageless. His interest in theater naturally followed. He had already engaged in various cultural and artistic activities, experiencing the power of the stage and audience. He understood better than anyone that while politics changes systems, art moves people's hearts. If speeches and debates appeal to reason, theater appeals to emotion and memory. This deep attraction to the theatrical form likely influenced his decision to establish a theater company. He has gained stage experience through participation in various performances and cultural events, culminating in the founding of his theater company. The first production of the newly established Gold Grass Theater, "Unruly Youth," holds special significance. It addresses painful modern history, specifically the forced conscription during military rule. This work does not merely reenact past events; it explores themes of youth, state power, memory, trauma, and human dignity. For Min Byung-du, a member of the democracy movement generation, this subject is deeply personal. As someone who lived through that era and fought for democracy, he aims to restore those memories through the language of art. The history recorded by politics differs from that remembered by art. He is now engaging with the times not as a politician but as a theater artist. His faith also plays a crucial role in this journey. Min Byung-du has long been a devout Catholic. The Catholic emphasis on human dignity and community spirit permeates his life. The democracy movement was about human dignity, journalism was about truth, and political activity was for the community. His current cultural and artistic endeavors ultimately focus on people. Although his professions have changed multiple times, the direction of his life has remained largely consistent. He continues to tell stories about people, meet people, and act for people. Today, South Korea is entering an ultra-aged society. However, we still lack imagination regarding the lives of the elderly. While we discuss how to prepare for retirement, we do not adequately address how to dream and challenge ourselves afterward. In this context, Min Byung-du's life holds significant meaning. He is not just a successful politician; he is someone who has redefined the second half of life. His journey from democracy activist to journalist, from journalist to politician, from politician to senior model, and now to theater artist is a history of continuous change and challenge. We often evaluate success based on high positions and great power. However, true success in life may lie in not losing sight of new dreams. Min Byung-du may have stepped down from his role as a lawmaker, but he has not stopped living. He has left the political stage but has not given up on challenges. Instead, he has created his own second stage, where he is embarking on new challenges with the vigor of youth. The founding of the Gold Grass Theater is not merely a cultural news item; it is a declaration of a beautiful second act for an individual. It is not just a cliché that age is just a number; it is a testament to life demonstrated through action. A young man who dreamed of democracy became a journalist, a journalist became a politician, and a politician has now become an artist, engaging with people. No one knows where this journey will end. However, what is clear is that he continues to grow. Thus, Min Byung-du's new challenge deserves applause. It is not just an individual achievement but a case that illustrates the direction our society should take moving forward. He proves through his life that life belongs to those who learn, challenge, and dream until the very end.* This article has been translated by AI. 2026-06-12 07:30:00 -
Mexico Defeats South Africa 2-0 in World Cup Opener Mexico, co-host of the 2026 North American World Cup and South Korea's opponent in the second match, secured a 2-0 victory over South Africa in the tournament's opening game. Ranked 14th by FIFA, Mexico defeated 60th-ranked South Africa on June 12 at the Estadio Azteca in Mexico City during the group stage match of Group A. Julian Quinones opened the scoring for Mexico just nine minutes into the match, marking the first goal of the tournament. Quinones, a former member of Colombia's U-20 national team, became a naturalized citizen in 2023 and was the top scorer in the Saudi Arabian league for the 2025-26 season while playing for Al-Qadisiyah. As Mexico sought to maintain a stable flow of play, South Africa attempted to respond with set pieces, particularly around the hydration break introduced for the World Cup. Despite their efforts, South Africa managed to hold their ground relatively well in the first half. However, the match shifted dramatically in Mexico's favor just four minutes into the second half due to a red card issued to South Africa. As Gutierrez attempted to dribble into the penalty area, he was brought down by South African midfielder Sphephelo Sithole near the penalty arc. The referee promptly issued a red card, leaving South Africa at a numerical disadvantage. In response to being one player down, South Africa substituted goalkeeper Foster for midfielder Talente Mbatha to bolster their defense against further goals. Mexico also made substitutions, bringing on 2008-born midfielder Hilberto Mora for Pidal in the 66th minute. At 17 years and 240 days old, Mora set a record as the youngest Mexican player to appear in a World Cup. With the numerical advantage, Mexico solidified their lead with a second goal from Jimenez in the 67th minute. South Africa's attempts to retaliate were thwarted when midfielder Temba Zwane, who came on as a substitute, received a red card for a reckless foul on Alvarado in the 84th minute. Although Mexico had secured a decisive victory, they faced a setback when Montes was sent off in stoppage time for a foul on South Africa's Kuliso Mudau, ruling him out for the upcoming match against South Korea. Meanwhile, South Korea's national soccer team, managed by Hong Myung-bo, is set to play their first group stage match against the Czech Republic at the Estadio Guadalajara in Sapopan at 11 a.m. on the same day. 2026-06-12 07:15:00 -
BlackRock Bets $8 Billion as SpaceX Sets Record IPO Elon Musk's aerospace company, SpaceX, has finalized its initial public offering (IPO) price, marking the largest IPO in history. The offering has attracted significant interest from institutional and retail investors, ensuring its success even before trading begins. On June 11, SpaceX announced that it sold 555,555,555 shares at $135 each, raising a total of $75 billion. This valuation places the company at approximately $1.77 trillion. This IPO surpasses the previous record set by Saudi Aramco in 2019, which raised $29.4 billion. According to the Wall Street Journal, BlackRock has placed an order for at least $5 billion worth of SpaceX shares, with other major asset managers reportedly submitting similar orders. Retail investor demand has also exceeded $70 billion, with total investor interest surpassing $250 billion. Musk has expressed a desire to allocate about 30% of the IPO shares to retail investors, as reported by the Journal. SpaceX's approach to the IPO differs from Wall Street norms. Instead of providing a price range based on demand, the company set a single price of $135 per share. Trading for SpaceX shares is set to begin on June 12 on NASDAQ under the ticker symbol 'SPCX.' The company plans to use the funds raised to expand its Starlink satellite network, develop next-generation rockets, and build an AI-related space data center. However, challenges remain despite the strong demand. SpaceX is still operating at a loss, and its valuation reflects significant growth potential in its nascent AI business. Concerns have been raised about Musk's continued control over the company through dual-class shares, prompting scrutiny over its corporate governance.* This article has been translated by AI. 2026-06-12 06:57:00 -
BlackRock Bets $5 Billion on SpaceX Ahead of Record IPO Elon Musk's aerospace company, SpaceX, has attracted significant orders from institutional and individual investors ahead of its record initial public offering (IPO). The Wall Street Journal reported on June 11, citing sources, that BlackRock, the world's largest asset manager, has placed an order for at least $5 billion worth of SpaceX shares. Other major asset management firms are also said to have submitted similar-sized orders. SpaceX announced that it has sold all 555,555,555 shares targeted for the IPO at a price of $135 per share. This move is expected to raise a total of $75 billion, giving the company an estimated valuation of approximately $1.77 trillion, surpassing Saudi Aramco to become the largest IPO in history. Demand from individual investors has also been robust. The Journal noted that individual investors have requested more than $70 billion worth of SpaceX shares. The company has received orders from sovereign wealth funds and family offices, with one family office reportedly placing an order exceeding $1 billion. CEO Musk has indicated a desire to allocate a higher proportion of shares to individual investors than is typical for IPOs. The Journal reported that Musk hopes to allocate about 30% of the offering shares to individual investors. This IPO process differs from traditional methods. Instead of presenting a price range and adjusting based on demand, SpaceX set a single price of $135 per share. However, despite the excitement, there are concerns. SpaceX remains an unprofitable company, and a significant portion of its $1.77 trillion valuation relies on the growth potential of its early-stage artificial intelligence (AI) business. Critics have raised concerns about corporate governance, as Musk is expected to maintain a high level of control even after the IPO.* This article has been translated by AI. 2026-06-12 06:51:00 -
SpaceX IPO Attracts $70 Billion in Orders from Individual Investors Elon Musk's aerospace company, SpaceX, has generated significant demand from individual investors ahead of its record-setting initial public offering (IPO). According to a report by Reuters on June 11, citing Bloomberg, individual investor orders for the SpaceX IPO have surpassed $70 billion (approximately 107 trillion won). Overall investor demand is reported to exceed $250 billion (about 383 trillion won). In this IPO, SpaceX plans to sell 555.6 million Class A common shares at $135 each, aiming to raise $75 billion (around 115 trillion won). Based on the offering price, the company's valuation is estimated at approximately $1.77 trillion (about 2,708 trillion won), making it the largest IPO ever, surpassing that of Saudi Aramco. SpaceX intends to allocate about 30% of the offering shares to individual investors, a notably high percentage compared to the typical 5-10% allocation in large IPOs. This surge in interest is also attributed to Musk's efforts to expand his retail investor base through Tesla. Institutional investors have also shown strong interest. Bloomberg previously reported that the Saudi Public Investment Fund (PIF) and the Kuwait Investment Authority placed orders ranging from $1 billion to $5 billion (approximately 2 trillion to 8 trillion won). The Qatar Investment Authority is also said to be considering a substantial investment. International allocations will be limited. SpaceX plans to allocate less than 10% of the IPO shares to overseas orders, with the allocation for Japan reportedly increasing from an initial $2 billion (about 3 trillion won) to $2.5 billion (approximately 4 trillion won).* This article has been translated by AI. 2026-06-12 06:45:00 -
Iran's Foreign Ministry Denies Final Agreement on U.S. Peace Talks Iran's Foreign Ministry stated that it has not yet made a final decision regarding peace negotiations with the United States. This cautious stance follows comments from President Donald Trump, who suggested that a signing ceremony could take place in Europe this weekend. According to Reuters, Esmaeil Baghaei, the spokesperson for Iran's Foreign Ministry, told the state-run IRNA news agency on June 11 that no final agreement has been reached concerning negotiations with the U.S. He described reports about the timing and location of a potential signing as mere "speculation." Baghaei noted that while much of the negotiation text has been organized, the U.S. has repeatedly changed its position throughout the talks. He emphasized that Iran will not compromise on its red lines, which include non-negotiable core demands. Earlier, President Trump announced during an event in the White House that the agreement with Iran is in the final stages of document coordination. He indicated that the agreement could be concluded within days and that a signing ceremony might occur in Europe this weekend. Trump explained that the key points of the agreement include the immediate opening of the Strait of Hormuz upon signing and Iran's commitment not to possess nuclear weapons.* This article has been translated by AI. 2026-06-12 06:36:00 -
World Cup 26: Mexico beats South Africa in opener SEOUL, June 12 (AJP) - SEOUL, June 12 (AJP) — The 2026 FIFA World Cup opened in Mexico City on Thursday with a lavish ceremony blending Mexican cultural imagery, global pop performances and the increasingly commercial face of the expanded 48-team tournament. Shakira and Burna Boy performed “Dai Dai,” the official song of the tournament, while the broader opening lineup included J Balvin, Maná, Los Ángeles Azules, Alejandro Fernández, Belinda, Danny Ocean, Lila Downs and Tyla. The ceremony highlighted pre-Hispanic themes and Mexico’s football heritage, with Estadio Azteca returning to the global stage after hosting matches at the 1970 and 1986 World Cups. The spectacle also showed how heavily commercialized this World Cup has become. One striking example around the tournament has been Labubu, the monster character from Chinese toy company Pop Mart, which has been turned into official FIFA World Cup merchandise. The collaboration, described in Chinese state media as FIFA’s first partnership with a designer toy intellectual property for official World Cup merchandise, underlined the growing visibility of Chinese consumer brands around global sports events. Outside the stadium, the celebratory mood was more complicated. Mexico City opened the tournament amid protests by teachers and other civic groups, while many local residents criticized high ticket prices and public spending on World Cup-related beautification projects. The opening match then delivered an equally dramatic start on the pitch, as Mexico beat South Africa 2-0 in a chaotic Group A curtain-raiser marked by three red cards. Julián Quiñones scored the first goal of the tournament in the ninth minute, punishing a South African defensive error before sliding the ball past goalkeeper Ronwen Williams. Raúl Jiménez doubled the lead in the 67th minute with a header from Roberto Alvarado’s cross, giving the co-hosts a winning start. The match spiraled into disciplinary drama after halftime. South Africa midfielder Sphephelo “Yaya” Sithole was sent off shortly after the restart for bringing down Brian Gutiérrez near the edge of the penalty area. Substitute Themba Zwane was also shown a red card in the 84th minute after raising his hand toward Alvarado following a challenge. Mexico defender César Montes was dismissed in stoppage time after fouling Khuliso Mudau as South Africa broke forward, leaving the match to finish with Mexico on 10 men and South Africa on nine. Teboho Mokoena received the first yellow card of the tournament in the 17th minute, according to live match reports. The three dismissals made the opener one of the most unusual first matches in World Cup history. A World Cup opening match had last seen multiple red cards in 1990, when Cameroon had André Kana-Biyik and Benjamin Massing sent off in a shock 1-0 win over defending champion Argentina in Milan. No previous World Cup opener is widely recorded as having produced three red cards, making Thursday’s match a likely first. For Mexico, the night ended with three points and a powerful start to a group that also includes South Korea and the Czech Republic. South Korea will open its Group A campaign against the Czech Republic at Guadalajara Stadium in Zapopan, near Guadalajara, Mexico. The match kicks off at 8 p.m. Thursday local time, or 11 a.m. Friday in South Korea. 2026-06-12 06:34:10 -
U.S. Stocks Surge After Trump Cancels Iran Airstrikes U.S. stocks surged on June 11, as President Donald Trump canceled planned airstrikes on Iran, easing fears of escalating tensions in the Middle East. On the New York Stock Exchange, the Dow Jones Industrial Average closed up 1.9% at 50,848.75. The S&P 500 rose 1.8% to finish at 7,394.30, while the Nasdaq Composite jumped 2.5% to close at 25,809.66. The Russell 2000 index, which tracks small-cap stocks, also saw a significant increase, rising 3.0% to 2,921.03. According to the Associated Press, this marked the strongest gain for the New York stock market in the past two months. Investor sentiment improved rapidly following Trump's announcement. He stated on Truth Social that the planned strikes and bombings were canceled due to discussions with Iran being approved at the highest levels. As expectations for reduced tensions in the Middle East grew, international oil prices fell, contributing to a rebound in technology and semiconductor stocks. Reuters reported that the buying momentum in tech stocks and hopes for peace in the region drove the market's rise. Among individual stocks, semiconductor shares saw notable gains. Intel surged by 10% during trading, while Nvidia and Micron rose by approximately 1% and 2%, respectively. The Philadelphia Semiconductor Index climbed over 4%. However, Oracle's stock plummeted after its capital expenditure forecast for fiscal year 2027 exceeded market expectations. Additionally, excitement surrounding SpaceX's initial public offering (IPO) fueled risk appetite among investors. SpaceX set its offering price at $135 per share, aiming to raise $75 billion, which would make it the largest IPO in history. Despite the positive market movement, inflation concerns remain. The U.S. Department of Labor reported that the Producer Price Index (PPI) rose by 1.1% from the previous month and 6.5% year-over-year in May, exceeding market expectations, driven by rising energy prices. While inflation indicators were strong, the market reacted more significantly to the easing of Middle Eastern tensions and the rebound in tech stocks. Investors are closely watching the Federal Open Market Committee (FOMC) meeting scheduled for June 16-17, anticipating signals regarding the Federal Reserve's interest rate path.* This article has been translated by AI. 2026-06-12 06:30:00 -
SpaceX Sets IPO Price at $135, Aiming for $75 Billion in Funding SpaceX has set its initial public offering (IPO) price at $135 per share and will begin trading on the Nasdaq on June 12. According to the Financial Times and the Associated Press, SpaceX plans to sell approximately 555.6 million shares, aiming to raise $75 billion. This pricing values the company at around $1.77 trillion. The scale of this IPO surpasses the previous record set by Saudi Arabia's state-owned oil company, Aramco, which raised $29.4 billion in 2019. SpaceX is expected to become one of the most valuable publicly traded companies immediately after its listing. Unlike typical IPOs, SpaceX did not provide a preliminary price range but fixed the share price at $135. Reuters reported that this approach, which effectively confirmed the IPO price during investor presentations, breaks Wall Street norms. The funds raised will be used to expand the Starlink satellite network, develop next-generation rockets, and build AI-related space data centers. The company will be listed under the ticker symbol 'SPCX' on Nasdaq and Nasdaq Texas. Even after the IPO, CEO Elon Musk will maintain significant control. The Associated Press reported that Musk will hold 82.4% of the voting rights through dual-class shares post-IPO. Baly Equity Partners is also considered a major shareholder, with the Wall Street Journal reporting that it holds a 6.7% stake in SpaceX.* This article has been translated by AI. 2026-06-12 06:27:00