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Jeju Forum Opens with Call for True Peace Without Conflict “We must actively discuss peace to create a true peace where there is no need for conflict. South Korea will fulfill its role and contributions as a global responsible nation by leading international cooperation for peace and prosperity through events like the Jeju Forum.” President Lee Jae-myung made these remarks in a video message during the opening ceremony of the 21st Jeju Forum for Peace and Prosperity held at the Haevichi Hotel in Seogwipo, Jeju, on June 25. Under the main theme of “Reinventing Cooperation in a Fragmented World,” the forum attracted over 4,500 participants, including current and former leaders and senior officials from various countries and international organizations, as well as experts from academia and civil society. President Lee emphasized that “the challenges the world faces cannot be solved by the power of just one or two countries,” adding that “when capable countries create flexible cooperative networks, they can fill the gaps in the existing international order.” United Nations Secretary-General António Guterres, in his video address, reaffirmed the commitment to the UN Charter through “Reinventing Cooperation,” stressing that today’s multilateralism must be more connected, inclusive, and representative. He praised the Jeju Forum for its efforts to listen to diverse voices beyond established powers. Slovenian President Nataša Pirc Musar, in her video message, stated that middle powers like South Korea and Slovenia must work to uphold multilateralism, engage in minilateralism, and secure roles in governance of new technologies such as AI to address the fragmented realities. She added that innovative approaches like minilateralism in areas such as critical minerals could provide middle powers with better opportunities to pursue their national interests. Indian Foreign Minister Subrahmanyam Jaishankar attended the opening ceremony in person and delivered a keynote speech, noting that the fragmented international order is not entirely negative but has become a structural reality. He emphasized the need for “Reinventing Cooperation” in this environment. To achieve this, he proposed new cooperative methods that align with the changing international landscape, including international economic de-risking and supply chain diversification, building new cooperative relationships among influential countries, upholding international law and norms, strengthening the capabilities of the Global South, and expanding global public goods through multilateral reform. Minister Jaishankar remarked, “In India, we say the world is one family,” stressing that it should not be left to a few. He called for the implementation of reformed multilateralism. He also noted that South Korea and India have high complementarity in areas such as shipbuilding, digital technology, health, infrastructure, and defense, making their cooperation significant on a global scale. * This article has been translated by AI. 2026-06-25 12:20:00 -
South Korea Falls to South Africa 0-1, Misses Chance to Advance in World Cup Hong Myung-bo's South Korea national soccer team suffered a shocking 0-1 defeat to South Africa in their final group stage match of the 2026 FIFA North and Central America World Cup, failing to secure a spot in the knockout stage. The match took place on June 25 at 10 a.m. KST at the Monterrey Stadium in Mexico. With this loss, South Korea finished the group stage with a record of one win and two losses, earning three points. Mexico secured the top spot in the group with a decisive 3-0 victory over the Czech Republic, while South Africa's win placed them second with four points. As a result, South Korea dropped to third place in the group. Fortunately for them, Mexico's win over the Czech Republic prevented an automatic exit from the tournament. South Korea's chances of advancing to the knockout stage now hang in the balance. This tournament features 48 teams, with the top two teams from each group, along with the eight best third-placed teams, moving on to the round of 32. South Korea will need to monitor the results of other groups to determine their fate. The outlook is not promising. Ahead of the South Korea-South Africa match, six other third-placed teams had already secured three points or more. Notably, Paraguay (Group D), Sweden (Group F), Algeria (Group J), and Croatia (Group L) all have three points, with one match still to play. In the event of a tie on points among third-placed teams, rankings will be determined by goal difference, total goals scored, and fair play points. South Korea currently has a goal difference of -1 and has scored two goals. In the match, South Korea started without key players Son Heung-min (LAFC) and Lee Jae-sung (Mainz) and missed early scoring opportunities. In the second minute, Kim Min-jae (Bayern Munich) attempted a threatening header from a corner kick, but it was blocked by a defender. In the eighth minute, Hwang In-beom (Feyenoord) set up a cross from the right side, and Lee Kang-in (Paris Saint-Germain) had a left-footed shot in a crowded penalty area, but it went just wide. After a strong start, South Korea lost control of the match. Their defense struggled, leading to several dangerous situations. In the 19th minute, they allowed a one-on-one opportunity for Tafel Masako, but goalkeeper Lee Ki-hyuk (Gangwon FC) made a crucial save to prevent a goal. South Korea faced another scoring threat in the 30th minute when they allowed a long-range shot from Talente Mbata from the right side of the penalty box. Fortunately, goalkeeper Kim Seung-kyu (FC Tokyo) made an initial save and followed up with another save against the subsequent shot from Evidence Makgopa, demonstrating strong focus to keep the score level. Throughout the match, South Korea struggled, allowing South Africa ten shots (three on target) while failing to register a single shot on target in the first half. Desperate for a turnaround, South Korea made three substitutions at the start of the second half, bringing on Hwang Hee-chan, Lee Tae-seok, and Baek Seung-ho for Son Heung-min, Jens Castro (Borussia Mönchengladbach), and Kim Jin-kyu (Jeonbuk Hyundai). However, in the 63rd minute, South Korea suffered a painful setback when Masako scored the opening goal with a left-footed shot from the center of the penalty box. With time running out, South Korea replaced Oh Hyun-kyu (Beşiktaş) with tall striker Cho Kyu-sung (Midtjylland) in hopes of equalizing. Despite their efforts, they could not break through South Africa's solid defense, ultimately losing 0-1 and bowing out of the tournament.* This article has been translated by AI. 2026-06-25 12:16:00 -
Kim Yong-min Considers Running for Party Leader Amid Reform Discussions Kim Yong-min, a member of the Democratic Party of Korea, stated on June 25 that he is "considering running for party leader" in the upcoming convention scheduled for August 17. However, regarding his recent request for the chairmanship of the Legislation and Judiciary Committee, he noted that "from the beginning, floor leader Han Byung-do said it would be difficult," emphasizing the need for judicial reform. During a press conference at the National Assembly to announce the social reform guidelines for the Lee Jae-myung administration, Kim expressed uncertainty about what those intending to run for party leader truly want, stating, "They keep repeating that they need to support the success of the Lee Jae-myung administration." He added, "I will clarify my position on whether to run soon," and emphasized that "the handling of issues is important, and if other candidates can address my direction, I may not run." He asserted, "Ultimately, the party leader must raise the banner of reform and take the lead." Additionally, Kim outlined a roadmap addressing issues such as resolving insurrection, judicial reform, media reform, political reform, AI response, combating online hate, improving livelihoods, reducing polarization, and constitutional amendments. He stated that the impeachment of Chief Justice Cho Hee-dae must occur by November for the resolution of insurrection and judicial reform to be possible. He questioned whether Cho, who was found guilty of participating in insurrection during the 21st presidential election, could fairly adjudicate cases involving insurrectionists. Furthermore, he indicated that amendments to the Criminal Procedure Act must be completed by August to abolish the prosecution office, allowing the launch of the Serious Crimes Investigation Agency and the Prosecution Service on October 2. Kim also highlighted the need for a policy delegate conference, asserting that party policies should not be determined by lawmakers but should be researched by the Democratic Research Institute and discussed among party members at the conference.* This article has been translated by AI. 2026-06-25 12:12:00 -
Korea and China Simplify Origin Certification Process Under FTA Korea and China have agreed to simplify the origin certification process to enhance the convenience of utilizing their free trade agreement (FTA). The two countries also plan to expand cooperation in cultural content and accelerate negotiations on services and investments. The Ministry of Trade, Industry and Energy announced that Han Gyu, head of the Trade Negotiation Headquarters, held the 7th Korea-China FTA Joint Committee meeting in Beijing on June 25 with Li Chenggang, the Chinese representative for international trade negotiations. They reviewed the implementation of the Korea-China FTA, which marks its 12th year this year, and discussed key improvements raised in various subcommittees concerning tariffs, trade technical barriers, intellectual property rights, and economic cooperation. The two nations agreed to introduce a self-certification system for certified exporters and to update product-specific rules of origin (PSR). The certified exporter system allows exporters recognized by customs authorities to either receive the authority to issue certificates of origin or to have the issuance process simplified. This new system is expected to streamline the origin certification process for 6,000 domestic companies, reducing time and cost burdens. While reducing tariffs is important, companies must still go through the origin certification process to benefit from preferential tariffs. If the burden of documentation and verification is high, the utilization of the FTA may decrease. Therefore, this reform is expected to enhance the practical use of the Korea-China FTA. The product-specific rules of origin will also be updated. The existing rules based on HS 2012 will be changed to HS 2022, which is expected to facilitate smoother import and export procedures and reduce customs risks for businesses. Discussions also covered trade technical barriers (TBT). Both sides reviewed technical regulations in key industries such as portable batteries, electrical and electronic products, and cosmetics, and discussed ways to enhance regulatory flexibility, including expanding the recognition of test results to improve market access for companies. These discussions follow the previous day’s meeting of the Korea-China FTA TBT Committee, where concerns from the industry regarding China’s proposed revisions to national standards for portable power banks and lithium-ion batteries in electronic products were conveyed. Cultural content and intellectual property rights were also major topics. The chief representatives shared the current status of intellectual property rights infringements, such as the illegal distribution of Korean content online, and agreed to expand cooperation to enhance enforcement and protection levels. In particular, the Korean side emphasized the need to expand legal distribution channels for Korean cultural content in China. They proposed broadening the legitimate cultural content market through follow-up negotiations on services and investments, interpreting that merely cracking down on illegal distribution has its limitations. In a separate small-group meeting, progress on follow-up negotiations regarding services and investments was also a focal point. Following an agreement in January for both countries to strive for meaningful progress in these negotiations within the year, discussions on key issues are set to accelerate.* This article has been translated by AI. 2026-06-25 12:08:00 -
Hanwha Solutions Implements 300 Billion Won Self-Rescue Plan to Secure Funding Hanwha Solutions is accelerating its financial restructuring by implementing a self-rescue plan to address funding shortfalls caused by a reduced capital increase. The company plans to secure liquidity through the issuance of redeemable convertible preferred shares (RCPS) via its U.S. subsidiary and additional monetization of the Advanced Manufacturing Tax Credit (AMPC). On June 25, Hanwha Solutions announced that its U.S. EPC (Engineering, Procurement, and Construction) subsidiary has issued 300 billion won in RCPS. The proceeds from this issuance will be used to cover the funding shortfall resulting from the scaled-back capital increase and to improve the company's financial structure. RCPS provides investors with the right to redeem their investment at maturity and the option to convert preferred shares into common stock. This financing method, utilized by various companies, can be classified as equity on the balance sheet depending on certain criteria, thus enhancing capital and improving financial structure. The Qcell EPC subsidiary directly executes solar power and energy storage system projects in the U.S. It recently signed a module supply and EPC contract with Microsoft in 2024 and is exploring additional business collaborations with major global tech companies amid rising demand for renewable energy. In the U.S. market, which favors locally produced products, the company anticipates synergies from operating the entire solar hub value chain. According to the Inflation Reduction Act (IRA) Investment Tax Credit (ITC), power producers that meet specific requirements for using U.S.-made products can receive an additional tax credit benefit equivalent to 10% of their investment. Additionally, Hanwha Solutions has recently further monetized a total of $220.3 million (approximately 340 billion won) in AMPC, including $120.3 million (about 185.7 billion won) for 2025 and $100 million (about 154.3 billion won) for 2026. This allows the company to cash out the entire $373.7 million (approximately 576.8 billion won) received in AMPC for 2025, thereby securing liquidity. Hanwha Solutions plans to continue its efforts to secure stable cash flow and improve its financial structure through ongoing AMPC monetization. Previously, Hanwha Solutions reduced its planned capital increase from an initial 2.4 trillion won to 1.7 trillion won to protect shareholder value and alleviate financial burdens, reflecting various opinions from shareholders and the market. To address the resulting funding shortfall of 700 billion won, the company will implement a robust self-rescue plan. Starting with the issuance of 300 billion won in RCPS, it plans to secure an additional 400 billion won through asset monetization and the sale of a U.S. venture capital fund to improve its financial structure. Lee Jae-bin, Chief Financial Officer of Hanwha Solutions, stated, "We will swiftly complete the 700 billion won self-rescue plan and focus on securing a sustainable growth foundation and enhancing future competitiveness. We will strive to ensure that our corporate value is appropriately recognized in the market and do our utmost to enhance shareholder value."* This article has been translated by AI. 2026-06-25 12:08:00 -
Expansion of National Climate Adaptation Information Platform Includes Agriculture and Health Data Data integration efforts at the national level to address climate change are set to expand significantly. The government plans to enhance the climate adaptation information system by incorporating data from the agriculture and health sectors this year.The National Institute of Environmental Research announced that it will hold the 8th expert discussion of the 'National Climate Crisis Adaptation Research Council' on June 26 at the Sejong University Daeyang AI Center in Gwangjin-gu, Seoul.The discussion will focus on the current status and utilization of the 'National Climate Crisis Adaptation Information Integration Platform' under development, as well as future directions for expanding data integration. Approximately 100 experts from various government agencies and research institutions in fields such as environment, meteorology, agriculture, forestry, and fisheries are expected to participate and discuss inter-agency cooperation.The integration platform will provide statistics and maps detailing the impacts, vulnerabilities, and response statuses of climate risks such as heavy rainfall, heatwaves, and cold snaps across different regions. It is designed with an artificial intelligence (AI) search function to help users easily find and utilize the information they need.This year, efforts will focus on linking new data related to the impacts of heatwaves and cold snaps on public health, pest outbreaks, and changes in agricultural productivity in the agriculture and health sectors. This is expected to allow for a more comprehensive analysis of how climate change affects public health and food safety.The discussion will also introduce the current status of the integration platform's development, the national climate crisis data construction system, and ways to utilize standard climate change scenarios. Additionally, case studies of adaptation information construction in areas such as marine and fisheries, agriculture, and ecosystems, as well as flood risk analyses, will be shared.The National Institute of Environmental Research plans to complete the integration platform by 2028. It aims to sequentially integrate data from water environment and marine fisheries, agriculture and health, land transport and ecosystems, and forestry and industrial energy sectors to support the government's climate adaptation policies. The goal is to expand services so that citizens can easily access information on regional climate risks, agricultural productivity, and infectious diseases.Lee Jong-cheon, head of the Climate and Carbon Research Division at the National Institute of Environmental Research, stated, "The key to this platform's construction is to organically connect data dispersed across various departments to enhance the national climate response capacity. We will do our best to provide practical services that allow everyone to easily utilize climate risk information in their daily lives."* This article has been translated by AI. 2026-06-25 12:08:00 -
Korea's Fair Trade Commission Calls for Reforms on Convenience Store Termination Fees The Korea Fair Trade Commission (KFTC) is taking steps to alleviate the burden of termination fees on convenience store franchisees by convening with major convenience store headquarters for voluntary reforms.On June 26, the KFTC's Fair Trade Support Center will hold a meeting in its review room to discuss measures aimed at preventing disputes in the convenience store sector. The meeting will include representatives from five major convenience store companies: BGF Retail, GS Retail, Korea Seven, Emart24, and CU.The initiative comes in response to growing demands to ease the financial burden of excessive termination fees imposed on franchisees, as well as a steady rise in related disputes. In the past three years, the proportion of disputes related to these five convenience store companies accounted for 34.8% in 2023, 40.5% in 2024, and 34.9% in 2025 of all franchise business transaction disputes.Among the 691 disputes filed in the franchise business sector last year, 161 (23.3%) were related to unfair compensation obligations, including termination fees. Of these, 89 cases involved the five convenience store companies.During the meeting, the KFTC plans to request that the franchise headquarters improve their practices regarding the imposition of termination fees and adhere to their obligations for sincere consultations with franchisee councils. The agenda will include suggestions and feedback for preventing disputes over termination fees and collecting recommendations related to convenience store dispute resolution.A KFTC official stated, "We aim to support continuous communication with convenience store headquarters to foster voluntary improvements that prevent disputes related to termination fees."* This article has been translated by AI. 2026-06-25 12:08:00 -
Korea lose to South Africa, left waiting on third-place ranking SEOUL, June 25 (AJP) - South Korea failed to secure automatic qualification for the Round of 32 after losing 1-0 to South Africa in their final Group A match at the 2026 FIFA World Cup on Thursday in Korea. South Korea lost at Monterrey Stadium in Mexico after conceding midway through the second half. In the other Group A match played at the same time, Mexico beat Czechia 3-0. The results sent Mexico through as Group A winners and South Africa as runners-up. South Korea finished third with three points and a goal difference of minus one. South Korea are currently around fourth in the ranking of third-placed teams, keeping their knockout hopes alive for now. But their place in the Round of 32 is not yet confirmed, with several groups still to complete their final matches. Hong Myung-bo’s side tried to change the game by bringing on Son Heung-min and Jens Castrop at halftime, but they again struggled to break South Africa’s pressure and conceded after being exposed down the flank. The defeat also extended South Korea’s winless World Cup run against African teams since 2006. Hong, who was in charge when Korea lost 4-2 to Algeria in 2014, missed a chance to erase part of that memory and must now wait to see whether his team can survive through the third-placed team ranking. 2026-06-25 12:05:52 -
Public Home Shopping Awards Innovative Products, Honors LNT Tech's Sterilizing Vacuum Public Home Shopping has identified 15 products from small and medium-sized enterprises and startups that showcase outstanding ideas and innovative technologies. On June 25, Public Home Shopping announced that it held an awards ceremony for its "Outstanding Ideas and Innovative Products Contest" at the Esplex Center in Mapo-gu, Seoul. In collaboration with the Ministry of Small and Medium Enterprises and Startups, the contest aims to discover promising small and medium-sized enterprises and support their market access. This year marks the fifth iteration of the contest, which attracted submissions from 187 companies. After a thorough evaluation process, including document reviews and expert assessments, 15 companies were selected. The grand prize, awarded by the Minister of Small and Medium Enterprises, went to LNT Tech for its "Kanz UV Sterilizing Wireless Vacuum Cleaner," which features a patented automatic filter cleaning technology. The Excellence Award, presented by the CEO of Public Home Shopping, was given to Kona Eco Home for its "IPX8 Waterproof Electronic Bidet," which is produced domestically and has a patented nozzle. Eight other products, including Andy Lab's "Fortini Dual One-Piece Dish Drying Rack," received awards. The award-winning products will be featured in sales broadcasts on Public Home Shopping. Prior to the broadcasts, the winners will receive comprehensive support for product commercialization, including coaching and benefits such as reduced production costs for home shopping videos and broadcast fees. A representative from Public Home Shopping stated, "This initiative has provided an opportunity to discover innovative products from small and medium-sized enterprises and startups that face challenges in securing market access. We will systematically support the entire process from product commercialization to broadcast launch to ensure the successful market entry of these excellent products."* This article has been translated by AI. 2026-06-25 12:04:00 -
Labor Ministry to Accept 12,600 E-9 Work Permit Applications by July 20 The Ministry of Employment and Labor announced on June 25 that it will accept applications for the third round of new work permits for foreign workers (E-9) from July 6 to July 20 through local employment offices nationwide. The total number of new work permits available in this round is 12,630. The manufacturing sector has the highest allocation at 9,020, followed by agriculture and livestock at 1,906, fisheries at 1,196, construction at 394, and services at 114. If there is excess demand in any sector, the government plans to actively utilize an additional allocation of 10,000 permits. The E-9 program is a key initiative to fill labor shortages in small and medium-sized enterprises and rural areas, particularly where domestic workers are scarce. The fact that over 70% of the permits are allocated to manufacturing underscores the high demand for labor in production sectors. Employers wishing to hire foreign workers must first make efforts to recruit domestic workers for seven days. After this period, they can apply for work permits by visiting local employment offices or through the Employment 24 website. Results of the applications will be announced on August 4. Work permits for the manufacturing and mining sectors will be issued from August 5 to August 11, while permits for agriculture, fisheries, forestry, construction, and services will be issued from August 12 to August 19. The fourth round of applications will be accepted in September, and the fifth round in November.* This article has been translated by AI. 2026-06-25 12:04:00