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

Korean convenience store chains accelerate global push with growth stalling at home SEOUL, July 01 (AJP) - Faced with a saturated market and declining sales at home, South Korea’s leading convenience store brands are racing to expand overseas in a bid to secure new sources of growth. Major players GS25, CU, and Emart24 are intensifying their international efforts as the domestic retail environment shows signs of fatigue. According to a May 2025 retail sales report from the Ministry of Trade, Industry and Energy, sales in South Korea’s convenience store sector fell 0.2 percent year-on-year — the second straight month of decline following a 0.6 percent drop in April. Adding to concerns, the combined number of outlets operated by CU, GS25, and 7-Eleven fell to 48,315 as of May — the first time the total store count has decreased since data tracking began. The drop underscores what analysts say is a clear turning point: South Korea’s convenience store market, once a driver of rapid retail expansion, has reached the limits of its domestic footprint. In response, retailers are accelerating efforts abroad. GS25, operated by GS Retail, currently runs 355 stores in Vietnam and 274 in Mongolia. In Japan, the company has introduced its private-label brand “YouUs” to more than 400 Don Quijote stores through a cross-border product partnership. CU, under BGF Retail, operates about 480 stores in Mongolia, over 160 in Malaysia, and around 40 in Kazakhstan. The company is also preparing its U.S. debut, with plans to open its first store in Hawaii by October. A local subsidiary has already been established to manage operations. Emart24, a Shinsegae Group subsidiary, has surpassed 100 stores in Malaysia and recently expanded into Cambodia. On June 30, it announced plans to open South Korea’s first convenience store in India, through a licensing agreement with Jung Brothers Hospitality and the Solitaire Group. The first location is scheduled to open in August in Pune, Maharashtra. GS25 is in the process of setting up a legal entity in Saudi Arabia, marking its first foray into the Middle East. These moves reflect a broader industry pivot toward international expansion as domestic opportunities dwindle. Once reliant on the densely populated South Korean market — where convenience stores are ubiquitous and often found just blocks apart — the sector is now looking abroad for long-term sustainability. “The domestic market has matured, and the competitive landscape has become increasingly intense,” said a retail analyst at Seoul-based Hana Securities. “Overseas expansion is no longer just an option — it’s a strategic imperative.” 2025-07-01 15:15:42

US faces greatest economic risk in global trade war: BOK SEOUL, July 1 (AJP) - The United States stands to suffer the most severe economic fallout if President Donald Trump’s protectionist trade policies provoke full-scale retaliation from its global trading partners, the Bank of Korea said in a report released Tuesday. The central bank’s New York office said that U.S. trade exposure has grown significantly since the 1930s, when the Smoot-Hawley Tariff Act exacerbated the Great Depression by sharply raising duties on imported goods. Today’s globalized economy, the bank cautioned, renders the United States far more vulnerable to reciprocal tariffs. “If countries around the world retaliate against U.S. tariff increases, the United States is likely to become the biggest victim,” the report stated. The analysis underscores a disparity in trade dependencies among major economies. U.S. exports account for about 7 percent of the nation’s gross domestic product, compared with 2.9 percent for China and 3.1 percent for the European Union. That suggests Washington is more exposed to retaliatory measures than Beijing or Brussels, despite its role as the aggressor in recent trade disputes. Drawing on projections from the International Monetary Fund, the report estimates that a 25-percentage-point hike in average U.S. tariffs — similar to those floated by the Trump administration — could slash American real exports by 19 to 28 percent over the next decade. By contrast, EU exports would shrink by as little as 0 percent and at most 1.1 percent; Chinese exports would fall between 5 and 7 percent. The pain would not stop at exports. The U.S. economy could see its real GDP contract by up to 1.3 percent, the report warned, surpassing potential declines of 1.1 percent in China and 0.6 percent in the EU. Still, the BOK noted a paradox: despite the ominous trade outlook, financial markets have largely shrugged off the risks. Stock indexes that dipped following tariff announcements in April have since rebounded to record highs, reflecting investor expectations that the eventual tariffs may be softer than initially feared. Yet the central bank cautioned that volatility could return swiftly if trade negotiations falter or economic momentum weakens later in the year. “Uncertainty surrounding trade policy remains a key risk to financial markets,” the report said, adding that asset prices may face abrupt corrections if talks collapse or growth slows unexpectedly. 2025-07-01 14:57:24

Early heat wave brings record temperatures across country SEOUL, July 1 (AJP) - As an early heat wave grips the country, several cities have recorded their highest average daily temperatures for this time of year, the Korea Meteorological Administration (KMA) said Tuesday. According to the KMA, the average temperature in the southern port city of Busan climbed to 26.2 degrees Celsius on the last day of June, the highest ever recorded for the month since weather observations began in 1904. The southwestern city of Mokpo also set a new record at 28.1 degrees while Daegu, one of the hottest cities in the country, reached 30.7 degrees, the highest since 1907. Gangneung in eastern Gangwon Province saw the mercury rise to 31.9 degrees, while Jeonju in North Jeolla Province recorded 29.5 degrees, with both breaking previous records for the month of June. The KMA attributed the unseasonable heat wave to hot and humid air flowing in from the southwest under the influence of a North Pacific high-pressure system. The hot and humid weather, accompanied by tropical nights, when temperatures remain above 25 degrees at night, is expected to linger across most parts of the country for a while. Meanwhile, all the beaches in Busan are now fully open, with some having partially opened late last month. They will remain open until the end of August or early September. 2025-07-01 14:51:44

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

US pharma industry urges trade pressure on South Korea over drug pricing SEOUL, July 1 (AJP) - The American pharmaceutical industry is calling on the Trump administration to use ongoing trade negotiations to pressure South Korea into overhauling its drug pricing system, which the industry argues unfairly suppresses prices and harms U.S. innovation and exports. In comments submitted to the Office of the U.S. Trade Representative on June 27, the Pharmaceutical Research and Manufacturers of America (PhRMA), the industry’s primary lobbying group, urged Washington to take a tougher stance on what it described as “unfair pharmaceutical policies” in foreign markets. PhRMA singled out South Korea, along with Australia and Canada, as particularly problematic. All three are high-income countries with strong demand for prescription drugs, yet the group contends they routinely underpay for American pharmaceutical products. The push comes as Trump escalates his focus on what he views as international price manipulation. In an executive order issued May 12, the president directed the USTR and the Commerce Department to take action against foreign governments that “deliberately and unfairly” depress drug prices below market value — often, critics say, at the expense of American consumers who continue to pay among the highest prices globally. PhRMA criticized South Korea’s National Health Insurance Service for subjecting new drug applications to “burdensome reviews” that slow the pace of market access. The group argued that the complex regulatory environment — marked by lengthy timelines and opaque price assessments — deters American pharmaceutical companies from bringing innovative therapies to Korean patients. The U.S. Chamber of Commerce echoed those concerns, submitting its own comments to the USTR. The chamber said South Korea sets drug prices significantly lower than other developed nations, failing to provide what it called fair compensation for U.S. pharmaceutical and biotech firms. It also cited data indicating that only about 20 percent of the 500 new drugs introduced globally between 2013 and 2014 have been approved for reimbursement in South Korea, with an average wait time of 40 months. The Trump administration’s pharmaceutical policies continue to draw mixed reactions. While some in the manufacturing sector have welcomed efforts to use trade talks to push for faster regulatory approvals and updated pricing formulas abroad, the pharmaceutical industry has pushed back on the president’s proposed “most favored nation” pricing policy. That initiative, which aims to align U.S. drug prices with those paid in other advanced economies, has drawn criticism from drugmakers who warn it could stifle investment and slow the pace of drug development. 2025-07-01 13:56:06

HYBE, Kakao bet on India's media, entertainment markets SEOUL, July 01 (AJP) - South Korean entertainment companies are ramping up efforts to gain a foothold in India’s fast-expanding media and entertainment sector, a market projected to reach 46 trillion won ($33 billion) by 2025, according to the Korea International Trade Association. From K-pop powerhouses to digital comics and gaming giants, Korean firms are tailoring strategies to navigate one of the world’s most diverse and dynamic content ecosystems. At the forefront is HYBE, the music label behind global sensation BTS, which is preparing to launch a wholly owned Indian subsidiary as early as this fall. The new unit aims to replicate HYBE’s proven K-pop development model for India’s burgeoning music scene. “The K-pop business model must be applied to and exported to other music genres to survive,” said HYBE Chairman Bang Si-hyuk in a statement last month, signaling a shift toward localized artist development. The company is scouting major cities such as Mumbai as a potential base, amid a rising wave of Indian K-pop fandom and concert attendance. HYBE’s move marks one of the latest in a series of Korean investments in India’s cultural sector. Kakao Entertainment, a subsidiary of tech conglomerate Kakao, entered the market earlier through its 2020 acquisition of Cross Pictures, a film and drama production company that had operated in India since 2015. The studio gained local prominence with Oh! Baby, the 2019 Indian remake of the Korean hit Miss Granny, which topped domestic box office charts. Kakao has also extended its reach through webtoons, launching Kross Komics in 2019 to serve India’s growing mobile reading audience with Korean digital comics translated into English, Hindi, and Telugu. Its global webtoon platform Tapas, which also distributes content to Indian readers, surpassed 200 million won in daily transaction volume last year. Meanwhile, gaming company Krafton, best known for PUBG: Battlegrounds, is expanding its Indian footprint through acquisition. In March, the firm purchased a 75 percent stake in Nautilus Mobile — the Indian studio behind the popular Real Cricket franchise — for $14 million, signaling a move into locally resonant genres and a broader shift toward narrative-driven gameplay, long a staple of Korean exports. The Korea Webtoon Industry Association (KWIA) is also making inroads through partnerships. In 2024, it teamed up with Bengaluru-based AI startup Dashtoon to launch a creator-focused platform that helps local artists and Korean webtoonists co-produce India-specific digital comics. The platform uses artificial intelligence for translation and layout automation, enabling streamlined adaptation across India’s many languages and visual storytelling traditions. 2025-07-01 13:48:30

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

Independent prosecutors reschedule questioning as ex-President Yoon fails to appear SEOUL, July 1 (AJP) - Former disgraced President Yoon Suk Yeol on Tuesday failed to appear for questioning by independent prosecutors, prompting them to set a new date later this week. Yoon had been asked to appear at 9 a.m. for another round of questioning over his botched Dec. 3 declaration of martial law last year, after his first questioning last Saturday was cut short due to procedural issues and other disagreements. Prosecutors now want him to appear for questioning on Saturday. Yoon's legal team repeatedly requested to postpone the questioning, citing his health concerns and a scheduled hearing on Thursday for his trial on charges of insurrection and abuse of power related to the martial law debacle. Prosecutors initially accepted Yoon's request by rescheduling the date from Monday to Tuesday but refused to make any further adjustments. They are expected to seek an arrest warrant to detain Yoon if he continues to fail to comply with the summons. 2025-07-01 10:20:15

Lee to hold press conference to mark 30 days in office SEOUL, June 30 (AJP) - President Lee Jae-myung will hold his first press conference later this week to mark his first full month in office, presidential spokesperson Kang Yu-jung said on Monday. The conference, slated to take place at 10 a.m. on Thursday, will allow Lee to outline his key policies while discussing a wide range of issues in a town-hall setting which includes an interactive Q&A session with journalists. Meanwhile, according to a recent survey of over 2,500 voters by pollster Realmeter released earlier in the day, Lee's approval rating stood at nearly 60 percent last week, less than a month into his presidency. The figure rose about 0.4 percentage points from 59.3 percent the previous week, as he appears to still be enjoying a blissful honeymoon period since his inauguration on June 4. Realmeter attributed the robust rating to a series of livelihood-related measures including cash vouchers to boost private consumption and revive the struggling economy, along with stringent restrictions on household loans aimed at curbing real estate speculation. 2025-06-30 17:55:12