Hybe names new heads for Americas and APAC as global push accelerates SEOUL, July 02 (AJP) - Hybe, the South Korean entertainment company behind BTS, has appointed Isaac Lee as CEO and Chairman of Hybe America, expanding his current leadership role over Latin America to include the entire Western Hemisphere. The move reflects Hybe's broader push to streamline global operations and build stronger local networks in key music markets. The entertainment powerhouse that nurtured top K-pop acts such as BTS and TXT said Wednesday that Lee, who has served as Chairman of Hybe Latin America since November 2023, will also lead its North American business. He retains his role at the Latin American unit, taking full charge of both regions. Originally from Colombia, Lee is a veteran media executive who previously served as Chief Content Officer for Univision Communications and Televisa, two of the largest Spanish-language broadcasters. He also founded Exile Content, a global media company. His appointment to Hybe America comes just eight months after his recruitment as the first chairman of Hybe Latin America. Hybe America operates several major labels, including Big Machine Label Group, Quality Control Media Holdings, and HYBE x Geffen Records. Its artist roster spans multiple genres and includes names such as Justin Moore, Lil Baby, and Katseye, the K-pop girl group created with Geffen. "CEO Isaac Lee, with his proven creative vision and deep local network, is expected to expand the influence of Hybe artists across the Americas," the company said in a statement. Scooter Braun, who led Hybe America after the 2021 acquisition of Ithaca Holdings, has stepped down from the CEO role. He will remain on the board as a senior advisor. Braun has been widely credited for helping Hybe establish a foothold in the U.S. market. Hybe also announced a leadership reshuffle in its Asia-Pacific music division. Yoo Dong-joo, formerly an executive at Kolon FnC, was named as the new head of Hybe Music Group APAC. Yoo has experience in both corporate strategy and fashion branding, having worked at Hyundai Motor Company and later launching and selling the sustainable fashion brand K.O.A. He also has a background in international development with the United Nations. Hybe said Yoo is expected to contribute to the expansion of its impact-driven business approach in Asia and beyond. Shin Young-jae, who previously led the APAC division, will now oversee a separate project focused on enhancing Hybe’s multi-home and multi-genre strategy. 2025-07-02 16:24:15

S. Korea greenlights national consumption coupon plan amid heated budget review SEOUL, July 01 (AJP) - As South Korea’s National Assembly continues to deliberate the government’s proposed 30.5 trillion won ($22.5 billion) supplementary budget, lawmakers on Tuesday approved one of its most contentious items, a 13.2 trillion won plan to distribute universal consumption coupons. The decision was made as part of a broad policy review session, where ruling and opposition parties clashed over fiscal responsibility and the effectiveness of key spending proposals. The "people's recovery coupons" are designed to stimulate domestic consumption and ease the burden of rising living costs, particularly for low-income households. Every South Korean citizen will receive at least 150,000 won, with higher amounts granted based on income level and region. The second-lowest income tier will receive 300,000 won, while basic livelihood recipients will receive 400,000 won. An additional 20,000 won will go to residents in rural areas experiencing population decline. A second round of payments will provide 100,000 won to 90 percent of the population, excluding the top 10 percent based on health insurance contribution records. The total benefit per person could reach up to 520,000 won. The coupons will be distributed as regional gift certificates, prepaid cards, or points added to existing credit and debit cards. The program, a central campaign pledge of President Lee Jae-myung, became the focal point of political disagreement during the National Assembly's review of the broader supplementary budget. The ruling Democratic Party argued that the coupons would provide a timely economic boost and direct relief to struggling households and small businesses. The conservative People Power Party countered that the initiative amounted to reckless fiscal populism, warning that it would offer only short-term stimulus while increasing the national debt and shifting the burden to future generations. Democratic lawmakers pushed back by citing the comparatively low debt-to-GDP ratio of South Korea relative to other major economies, including Japan, the United States, France, and Britain. The Interior and Safety Committee approved the coupon funding through bipartisan agreement, including a revision requiring the central government to shoulder the full 13.2 trillion won cost. The National Assembly also approved six trillion won in funding for local currency vouchers under the regional gift certificate program, which passed without changes. While the consumption coupon plan has cleared a key hurdle, the rest of the 30.5 trillion won supplementary budget remains under review. Lawmakers continue to debate other major components, including a 1.4 trillion won debt-relief package for long-term delinquent borrowers, additional support for energy-efficient appliance purchases, and subsidies for cultural consumption such as movie tickets, art exhibitions, and sports events. The government expects the full supplementary budget, once passed, to raise the national GDP growth rate by 0.1 percentage points in 2025. 2025-07-01 17:26:12

Creator of 'Squid Game' responds to American spinoff rumors SEOUL, July 01 (AJP) - The final moments of Netflix drama series Squid Game's highly anticipated third season have ignited speculation about an American spinoff, especially following a surprise appearance by veteran actress Cate Blanchett. But according to series creator Hwang Dong-hyuk, while the cliffhanger ending was designed to leave an impression, it was not intended to launch a new franchise, at least not by the South Korean director. Speaking with The Hollywood Reporter in an interview published on June 30 (local time), Hwang clarified that he did not write the ending to intentionally open the door for a future installment. Still, he expressed enthusiasm for the idea of another director exploring the universe, especially if it were helmed by someone he admires. "Honestly, nothing has been said to me officially by Netflix about this. I’ve only read it in articles myself as well," he told the magazine. "I’ve always been a huge fan of David Fincher’s work, from 'Se7en, 'and I’ve loved his films. So, if he were to create an American Squid Game, I think that would be very interesting to watch. I would definitely click on it immediately after it’s released, if it were to happen." Hwang, who spoke to the magazine while promoting the third and final season of Squid Game, explained that the Blanchett cameo as a Los Angeles-based recruiter for an American-style version of the games was written for dramatic weight, not franchise building. "I didn’t end it on that note in order to deliberately leave room for further stories to happen," he said. "Gi-hun and Front Man, through these characters, the Games in South Korea have ended." In the show’s final scene, Blanchett’s character shares a cold, calculated glance with the Front Man, played by popular South Korean actor Lee Byung-hun, suggesting the games may have spread beyond South Korea’s borders. While fans were quick to connect this to circulating reports about a Fincher-led American adaptation, Hwang insisted the story was about something more fundamental. "Because this story started out with me wanting to tackle issues about the limitless competition and the system that’s created in late capitalism, I wanted to leave it on a note highlighting the fact that these systems, even if one comes down, it’s not easy to dismantle the whole system. It will always repeat itself," Hwang said. In the same interview, Hwang opened up about changing the original ending, which would have seen protagonist Seong Gi-hun, played by Lee Jung-jae, survive and reunite with his daughter in the United States. "I thought the person who witnesses the American recruiter woman would be Gi-hun," he said. But as the story evolved, Hwang decided a symbolic sacrifice would deliver a more powerful message. "I thought, 'What kind of sacrifices do we need to make in the current generation for us to be able to leave the future generation with a better world?' So I wanted Gi-hun’s sacrifice to be a symbol of that." As of now, Netflix has not commented on any future developments tied to Squid Game. 2025-07-01 15:40:04

K-pop band BTS to release live album as full group reunites after military service SEOUL, July 01 (AJP) - K-pop wonder BTS will drop its first-ever live album on July 18, capturing performances from their record-breaking world tour "Permission to Dance on Stage," the seven-member band's agency said Tuesday. The album features 22 tracks recorded between 2021 and 2022 in South Korea and the United States, including crowd-pleasers such as "ON," "FIRE," "DOPE," and "IDOL." BigHit Music said the release is intended to bring back the energy of the concerts shared between BTS and their global fanbase, ARMY. "We hope this album serves as a reminder of the memories made during 'BTS Permission to Dance on Stage'. We hope every moment you shared with BTS will continue to shine in your hearts," the agency said. The album comes as the group returns to the spotlight following their military service. Jin, the first BTS member to enlist, kicked off his solo fan concert tour with two performances on June 28 and 29 in Goyang, north of Seoul. He sang 18 songs over two hours, showcasing his solo work and interacting closely with fans. Special guests joined him on stage, including solo artist YENA on the first night for "Loser (feat. YENA)" and Red Velvet's Wendy the following evening for a duet of "Heart on the Window (with Wendy)." The group's full return is already stirring excitement. On June 21, the day SUGA completed his service, fans crowded the streets around HYBE’s headquarters in Yongsan, near central Seoul. There was no official fan event, but the area became a gathering point. Cafes, convenience stores, and restaurants rolled out BTS-themed decorations and menus. A massive banner reading "We are Back BTS!!" was hung across the HYBE building. Life-sized posters of the seven members lined the area, and a large anniversary ad filled the underground section of Yongsan Station. Online, fans from Japan, the U.S., Brazil, and elsewhere filled social media with messages like "Our BTS is finally coming back," using hashtags such as #BTSisBack and #방탄소년단전원전역. Although all seven members have now completed their military service, BTS remained present during their absence with pre-recorded content and solo projects. Their last group release was the 2022 anthology album "Proof." HYBE said BTS will resume group activities gradually in the second half of this year. Some media outlets have speculated that a major comeback concert could be in the works for early 2026, around the time of their 13th anniversary. 2025-07-01 14:06:27

Trump may seek meeting with Kim Jong-un at Panmunjom during October APEC visit, says Victor Cha SEOUL, July 01 (AJP) - United States President Donald Trump may attempt to meet North Korean leader Kim Jong-un at Panmunjom during his expected visit to South Korea for the APEC summit in October, according to Victor Cha, Korea Chair at the Center for Strategic and International Studies (CSIS). Speaking during a CSIS webinar held on June 30 (local time), Cha said a Trump and Kim meeting could be on the table, especially given the president's history of pursuing bold diplomatic gestures. The Asia-Pacific Economic Cooperation summit, to be held in South Korea later this year, may present the right moment for another high-profile encounter. Their most recent meeting took place on June 30, 2019, when Trump, then in his first term as president, crossed the military demarcation line at Panmunjom after publicly inviting Kim via Twitter. It was an impromptu event during a G20 summit stop in Japan. Although it was historic, marking the first time a sitting U.S. president entered North Korean territory, it failed to revive denuclearization talks that had collapsed earlier that year in Hanoi. Cha's remarks came amid discussion on the geopolitical aftermath of recent U.S. airstrikes on Iranian nuclear infrastructure. He said those strikes may have hardened North Korea's belief that nuclear weapons are essential for regime survival, weakening hopes for achieving "complete, verifiable, and irreversible denuclearization" (CVID). "One of the consequences of the strike on Iran may be that CVID for North Korea is essentially over," Cha said. He explained that North Korea is likely to view its nuclear arsenal as protection against scenarios like the U.S. operation in Iran, reaffirming its commitment to the nuclear path. While it is unclear whether the strikes will open a genuine path to diplomacy, Cha suggested they may encourage Pyongyang to enter talks in hopes of avoiding similar attacks. He also noted that Washington could have new motivation to engage, especially with North Korea's growing military ties to Iran and Russia. Cha pointed to North Korea's involvement in supplying weapons and ballistic missiles to Russia for use in Ukraine, as well as possible assistance to Iran's missile and nuclear programs. He said this cooperation could expand under the radar, posing broader risks across multiple regions. He also noted that China's leverage over Pyongyang has diminished in the wake of the Ukraine war, while Moscow has taken a more permissive stance toward North Korea's behavior, providing North Korea greater freedom to act independently. 2025-07-01 10:47:15

Naver Cloud signs MOU with New Murabba to support Saudi Arabia's smart city ambitions SEOUL, June 30 (AJP) - South Korea’s Naver Cloud has entered into a strategic partnership with Saudi Arabia’s New Murabba Development Company to help build a new smart city in the heart of Riyadh. The memorandum of understanding (MOU) was signed on Jun. 30 by Naver Cloud CEO Kim Yu-won and New Murabba CEO Michael Dyke during the New Murabba Investment and Partnership Forum, held at the Floating Island Convention center in Seoul. Under the agreement, both sides will work together over the next three years to introduce advanced technologies into the New Murabba project. Areas of cooperation include robotics, autonomous mobility, digital construction monitoring, and cloud-based smart city platforms. As the cloud service division of South Korean tech giant Naver, Naver Cloud is expected to play a central role in laying the digital foundation for what Saudi Arabia envisions as a next-generation urban district. "New Murabba is not just building another destination. We’re creating a new way of life," Dyke said during the signing ceremony. "This is where vision meets technology, and where Saudi Arabia’s ambition for a diversified, future-ready economy becomes real." A flagship initiative of the Public Investment Fund (PIF), New Murabba is being developed as a 14-square-kilometer (5.4-square-mile) mixed-use district in central Riyadh. It is based on the "15-minute city" concept, designed so that housing, work, leisure, and essential services are all within a short walk or commute. At the center of it all is the Mukaab, a towering cube-shaped structure set to become one of the largest built environments in the world. The 400-meter-tall Mukaab will combine cultural, commercial, residential, and entertainment functions, supported by immersive digital technology and its own operating system. New Murabba is part of Saudi Arabia’s broader Vision 2030 strategy, which aims to reduce the country’s reliance on oil and reposition Riyadh as a hub for global business and tourism. Once completed, the project is expected to include more than 100,000 homes, 10,000 hotel rooms, and essential services such as schools and hospitals. It will also feature a 45,000-seat stadium, one of the planned venues for the 2034 FIFA World Cup. The development is projected to create over 300,000 jobs. The agreement with Naver Cloud marks a significant step in bringing international technology expertise into the project. Dyke noted that New Murabba’s complexity requires partners capable of operating at scale. "We believe that if you're going to create the most extraordinary place on the planet, you need to look at where innovation is already happening, which is why Naver is such a great fit," he said. While the focus of the day was on digital technology, attention also turned to construction. Asked whether South Korean builders were being considered as partners, Dyke said yes but declined to name specific firms due to an ongoing competitive process. "We are currently in a competitive process and expect to form consortia that bring together the world’s top capabilities, including from South Korea," he said. Major South Korean construction companies such as Hyundai Engineering & Construction, Samsung C&T, and GS E&C have long histories of working in the Middle East, particularly in Saudi Arabia. Many played a key role in the Kingdom’s infrastructure boom in the 1970s and 1980s. Dyke acknowledged this legacy, adding, "South Korea already has strong relationships and a proven track record in Saudi Arabia, and we’re confident that those ties will play a role in the next chapter of Riyadh’s transformation." As for the scale of the deal with Naver Cloud, Dyke said the size and scope would be finalized during the next phase of planning. "Signing is the easy part," he said. "Now comes the hard work, getting the details right and making sure we create the most value possible for both sides." 2025-06-30 16:09:45

N. Korean leader Russian culture minister, pushes for stronger cultural ties SEOUL, June 30 (AJP) - North Korean leader Kim Jong-un met with Russian Culture Minister Olga Lyubimova in Pyongyang on Sunday, highlighting growing cultural cooperation between the two countries. The visit marked one year since the signing of the North Korea-Russia Treaty on Comprehensive Strategic Partnership, which took place during Russian President Vladimir Putin's visit to Pyongyang in June last year. The meeting was held at the headquarters of the Workers' Party of Korea and was attended by Russian Ambassador Aleksandr Matsegora. According to Pyongyang's state media Korean Central News Agency (KCNA), the conversation was friendly and warm throughout. Kim described the 2023 treaty as a "substantial contribution to the co-prosperity, development, and promotion of the well-being" of both nations. He emphasized that while all areas of cooperation are important, cultural and artistic exchange plays a vital role in "strengthening the foundation of the public mindset" and in deepening "friendship, mutual understanding, and shared sentiment" between the peoples of the two countries. "To that end, we need to expand our cultural exchange and learn more about each other's traditions," he said. Lyubimova expressed her appreciation for Kim's attention to the Russian delegation's visit. She said it was a meaningful time to be in Pyongyang, "when the strength and resilience of the DPRK-Russia friendship have become even more evident," and cultural cooperation had reached "the highest level in history." After the meeting, Kim and Lyubimova attended a joint performance at the East Pyongyang Grand Theatre. The event featured Russian performers from the Pyatnitsky State Academic Russian Folk Choir and the Gzhel Moscow State Academic Dance Theater, as well as North Korean artists. The program included traditional Russian songs and dances along with North Korean pieces such as "Arirang." One performance included background images showing North Korean soldiers in Ukraine's Kursk region waving both the DPRK and Russian flags. Kim presented a floral basket to the Russian performers and said he believed the visit would help further strengthen "the militant comradeship and feelings of friendship between the two countries." His daughter, Kim Ju Ae, was present throughout the event and stood by his side during conversations with Lyubimova and Ambassador Matsegora. Later that day, North Korean Culture Minister Sung Jong Gyu and Lyubimova met at the Mansudae Assembly Hall and signed a cultural cooperation agreement covering the years 2025 to 2027. The Russian delegation also visited Pyongyang's Liberation Tower, a monument commemorating Soviet soldiers who died fighting Japanese forces in Korea during World War II. North Korea has continued to spotlight its deepening ties with Russia since the start of the war in Ukraine, reinforcing its alignment through military cooperation, high-level exchanges, and joint cultural initiatives. Kim Jong Un meets Russian culture minister, pushes for stronger cultural ties 2025-06-30 09:47:10

S. Korea starts dismantling of Kori-1 nuclear reactor after final green light SEOUL, June 27 (AJP) - South Korea has begun dismantling its first commercial nuclear reactor, Kori-1, following final approval from the Nuclear Safety and Security Commission on Thursday. The project, led by Korea Hydro & Nuclear Power (KHNP), is expected to span 12 years, ending with full site restoration by 2037. Kori-1, located in Gijang County, Busan some 320 kilometers (198 miles) southeast of Seoul, was a 595-megawatt pressurized water reactor built by Westinghouse. It began commercial operations in 1978 and was permanently shut down in June 2017 after nearly four decades of service. KHNP submitted its final decommissioning plan in 2021, which received regulatory approval this week. Ahead of physical dismantling, KHNP began chemical decontamination work in 2023 to reduce radiation levels in key systems such as the reactor coolant and residual heat removal systems. The dismantling process will begin next month with the removal of equipment from the turbine hall, desalination facilities, and outdoor tanks. Spent nuclear fuel is scheduled to be removed by 2031, with final decontamination and site cleanup completed six years later. KHNP has allocated about one trillion won, or about $736 million, for the entire project. The budget includes 808.8 billion won for dismantling work and 262.5 billion won for waste disposal, all funded through its decommissioning reserve. Several challenges remain. One of the biggest is managing radioactive waste. KHNP expects to generate about 14,500 drums of low- and intermediate-level waste, raising concerns over whether the existing disposal facility in Gyeongju can handle the load, especially as other reactors are also nearing retirement. The spent fuel currently stored in the reactor’s wet pool will also need to be transferred to dry storage. KHNP plans to build a storage facility onsite by 2030, but it must first secure local consent by 2028. Public opposition is expected. The future use of the Kori-1 site remains undecided. Given its proximity to the operating Kori 2, 3, and 4 reactors, full environmental restoration for public or agricultural use appears unlikely. Regulators are considering a restricted industrial zone suitable for facilities such as factories. South Korea currently holds 96 key technologies related to decommissioning, developed by KHNP and the Korea Atomic Energy Research Institute. Government-backed research and development is also underway to expand capabilities, including technologies for dismantling heavy water reactors like those at the Wolsong plant. According to the International Atomic Energy Agency, 214 nuclear reactors around the world have been permanently shut down, with 588 expected to close by 2050. So far, only four countries, the United States, Germany, Japan, and Switzerland, have completed full commercial reactor decommissioning. 2025-06-27 10:22:34

Seoul logistics pipeline shrinks amid cautious market sentiment SEOUL, June 26 (AJP) - South Korea’s logistics market is pulling back. After years of rapid expansion, the Seoul metropolitan area is now seeing a marked slowdown in new warehouse development, as rising costs, limited access to project financing, and a shifting demand landscape prompt developers to reassess their strategies. According to the 2025 Korea Logistics Market Report from Cushman & Wakefield Korea, about 3.92 million square meters of logistics space were completed in the capital region last year, a 33 percent drop from 2023. The number of new projects also fell sharply, from 95 to 51. Even amid the broader slowdown, one trend stood out: a continued shift toward larger-scale facilities. Warehouses over 66,000 square meters made up a growing share of the new supply. These larger properties are favored by major e-commerce and third-party logistics, or 3PL, firms, which now dominate the tenant base. Nearly 40 percent of new approvals in 2024 were in this category, pointing to sustained demand for scaled-up, high-efficiency centers. However, a widening gap between approvals and construction suggests the pipeline is far from secure. As of late 2024, 85 percent of logistics projects that had received permits were still unbuilt. More than 110 of those had remained idle for over two years. The report attributes this stall to a combination of rising development costs and a tightening project financing environment, which have made it increasingly difficult to move forward with new construction. As a result, the market is entering a prolonged supply correction. Region by region, the picture varies. The eastern zone, traditionally anchored by Icheon, saw the steepest drop in new completions, down nearly 70 percent from the previous year. With land growing scarce in core areas like Seoicheon, developers are shifting outward to places such as Yeoju and southern Icheon. The western region, which includes Incheon, Siheung, and Gimpo, was the only area where supply increased, delivering close to 2 million square meters in 2024. Still, with only six new projects approved there last year, future deliveries are expected to decline. In the south, activity remained stable. More than 1.19 million square meters of new space were completed in Anseong and Pyeongtaek, with most of it leased before completion. The central region, including Anyang, saw no new deliveries for the second year in a row. The north added only a modest amount of new space. Speculative development has slowed significantly. Developers are increasingly turning to build-to-suit strategies, especially in the cold storage segment. Many cold-chain facilities built during the pandemic remain vacant, often due to outdated or mismatched designs. The report points to issues such as inefficient dock access, narrow ramps, and freezer-heavy configurations that fail to meet current demand. The average vacancy rate for cold storage centers now stands at nearly 40 percent, reflecting a persistent disconnect between facility design and tenant needs. By contrast, ambient logistics centers recorded a vacancy rate of about 17 percent. These facilities have fared better, especially when built with large floorplates and located near highway interchanges. Properties with strong specifications and proximity to transportation corridors are seeing faster leasing and stronger renewal momentum. With fewer completions expected in 2025, high-quality existing properties are becoming more attractive. "Large-scale, high-spec properties with strong access to transportation networks will see stronger leasing momentum, especially in undersupplied areas like western Gyeonggi," the report says. Cushman & Wakefield characterizes 2025 as a structural turning point for the market. While new supply is set to decline further, demand is becoming more selective, pushing landlords and developers to focus on quality, functionality, and long-term viability. After years of chasing volume, the market is now resetting. For both investors and operators, success this year will depend less on how much space is delivered and more on how well that space performs. 2025-06-26 15:56:02

Small business owners overwhelmed by rising costs and wage pressure SEOUL, June 26 (AJP) - South Korea's small business owners are feeling the weight of growing economic pressure, with rising food prices and labor costs making it harder than ever to stay afloat. Many are now calling on the government to freeze or even lower the minimum wage. According to a survey released Thursday by the Korea Economic Research Institute (KERI), 63.4 percent of self-employed respondents said their business conditions have worsened compared to last year. Only 6.8 percent reported any improvement, while the rest said things were roughly the same. The minimum wage for 2025 is 10,030 won ($7.4) per hour, a 1.7 percent increase from 2024. That translates to a monthly income of 2,096,270 won, assuming a 40-hour workweek with paid weekly leave. But for half of the business owners surveyed, even that level is already too much to bear. The burden is especially heavy in the hospitality sector. In the lodging and restaurant industry, 64.2 percent said the minimum wage poses a serious strain. Similar concerns were echoed in retail at 51.9 percent, education services at 50.0 percent, and manufacturing at 48.4 percent. Asked about what should happen to the minimum wage next year, 44.2 percent said it should be frozen. Another 15 percent favored a reduction. About 21.2 percent said a modest increase of one to three percent would be manageable, while only 10.2 percent supported a hike of more than three percent. But wage costs are only part of the problem. Food and raw material prices have surged in recent years, eating into already tight margins. Statistics Korea reported that the consumer price index in May rose 1.9 percent from a year earlier to 116.27. Food prices increased much more sharply, with the food-only index reaching 125.15 and dining-out costs rising to 124.56. Both figures are around 25 percent higher than in 2020. Basic ingredients have not been spared. A 20-kilogram bag of rice now costs 52,520 won, up eight percent over the past five years. Spinach prices jumped 29.2 percent in the same period, while potatoes went up 15.3 percent. Everyday meals have become noticeably more expensive. In May, a single roll of gimbap in Seoul averaged 3,623 won. That is a 45.8 percent increase from 2,485 won five years ago. Prices over 3,500 won are now common, and some franchise shops charge more than 4,000 won. Naengmyeon, once priced around 9,000 won, now averages 12,269 won. Bibimbap rose to 11,462 won, up nearly 32 percent. Even pork belly has jumped past the 20,000 won mark per serving. For many business owners, it is no longer just a tough season. It is a breaking point. Nearly 29 percent said they are already operating at their limit. A staggering 30.4 percent reported earning less than the legal monthly minimum wage. And when it comes to hiring, 65 percent said they simply cannot afford to take on new workers. Lee Sang-ho, head of KERI's economic and industrial division, called for caution in the upcoming minimum wage decision. "To ease the burden on small business operators and restore momentum in the economy, this year's minimum wage decision should carefully consider employers' payment capacity and the broader employment situation," he said. 2025-06-26 15:05:41