MSCI upgrades Korea's short-selling rating, but cites lingering barriers SEOUL, June 20 (AJP) - Global index provider MSCI has upgraded South Korea’s short-selling accessibility rating in its annual market accessibility review, marking a modest step forward in the nation’s yearslong effort to join the MSCI World Index. Still, the firm warned that broader foreign investor access remains hampered by longstanding structural hurdles. The upgrade — moving South Korea’s short-selling rating from “negative” to “positive” — follows the partial resumption of short-selling in March, after a nearly three-year suspension. The policy shift brought the country one step closer to aligning with international standards, a key requirement for inclusion in MSCI’s flagship index. Yet the review struck a cautious tone overall, underscoring enduring concerns around South Korea’s currency market, investor registration process, and settlement mechanisms. “Despite these reforms, the registration process continues to face operational hurdles,” MSCI said in its report. “Moreover, the limited usage of omnibus accounts and over-the-counter transactions has constrained the impact of related regulatory initiatives.” MSCI also criticized the slow adoption of corporate governance reforms — particularly procedures allowing companies to confirm dividend payouts before record dates. The firm noted that only a small number of companies have implemented the measure, limiting its effectiveness. South Korea has sought inclusion in the MSCI World Index since 2008, when it was placed on the firm’s watch list. Currently, South Korea holds six “negative” ratings across MSCI’s 18 market accessibility criteria, down from seven a year earlier when short-selling access was downgraded. Key areas requiring improvement include liberalization of the foreign exchange market, streamlining of investor registration, modernization of clearing and settlement systems, and expansion of investment products. In April, Financial Services Commission Chairman Kim Byoung-hwan met with senior MSCI officials in an effort to underscore the government’s reform agenda and advocate for a more favorable evaluation. 2025-06-20 11:11:53

Four more South Koreans evacuated from Iran amid escalating conflict with Israel SEOUL, June 20 (AJP) - Four more South Koreans were evacuated from Iran to neighboring Turkmenistan amid a deadly conflict in the Middle East, the Ministry of Foreign Affairs said on Friday. They joined about 30 other evacuees including their Iranian family members, who had arrived in the Turkmen capital of Ashgabat via a land route the previous day, with transportation assistance and consular support provided by South Korean diplomatic missions there. "With Iranian airspace closed due to escalating military tensions, the government facilitated overland evacuations for South Koreans to ensure their safety," the ministry explained. According to government authorities, around 25 South Koreans have also been evacuated from Israel to Jordan, as tens of thousands of foreign nationals are rushing to flee the region after Israel's surprise attack on Iran last week, which has led to retaliatory strikes and intensified airstrikes. About 100 South Koreans are estimated to reside in Iran, mostly in the capital area of Tehran, while around 500 live in Israel. Meanwhile, U.S. President Donald Trump is contemplating whether to strike Iran's nuclear facilities. In a statement read aloud by White House press secretary Karoline Leavitt, he said he would make a decision "in the next two weeks," adding, "There's a substantial chance of negotiation that may or may not take place with Iran." Iran has vowed to retaliate if the U.S. decides to strike. 2025-06-20 11:07:19

Korean sunscreens — a local treasure for global visitors Editor's Note: This is the fifth article in our series exploring the evolving landscape of the Korean beauty industry and the products that captivate international visitors. SEOUL, June 18 (AJP) - As summer intensifies and international tourism to South Korea rebounds, one skincare essential consistently finds its way into visitors’ shopping baskets: Korean sunscreen. But while global demand for K-beauty SPF products has soared, the formulas that foreign consumers favor often diverge sharply from what Korean shoppers actually use on a daily basis. Rather than guard their local secrets, beauty insiders say understanding the domestic sunscreen market reveals the sophistication of Korean sun care — one that integrates seamlessly into full beauty routines, emphasizes reapplication, and reflects evolving skin-type preferences. Scientific consensus has long underscored the benefits of sunscreen: Harvard Medical School research finds that consistent use reduces the risk of skin cancer by more than 40 percent and helps prevent premature aging. Yet Korean consumers have cultivated a level of selectiveness and product layering that few outside the country fully grasp. When international fans seek out “must-have” Korean sunscreens, they’re often buying products that don’t reflect what Koreans themselves keep in their skincare arsenals. According to Olive Young, the nation’s dominant beauty retail chain, many local favorites remain relatively obscure overseas — part of what industry professionals describe as a growing “reverse export” phenomenon, where brands become famous abroad before gaining traction at home. Take AHC Master’s Aqua Rich Sunscreen, for example. A stalwart among older Korean users, the product is known for its rich, hydrating formula and premium finish. Though rarely spotlighted in TikTok routines or Amazon bestseller lists, it remains a household name domestically and enjoys high consumer loyalty among skincare-savvy users who prioritize texture and nourishment. On the other end of the spectrum is Round Lab Birch Juice Moisturizing Sunscreen, a versatile, skin-friendly formula that has earned a dominant position in the Korean market. The product has repeatedly topped Olive Young’s suncare category and ranks highly on Hwahae, Korea’s top beauty app. Meanwhile, products like Dalba Waterfull Tone-Up Sunscreen occupy the intersection of skincare and makeup, providing the now-iconic “dewy glass skin” effect while prepping the skin for foundation. The formula is praised for its moisture retention and ease of layering. “It spreads really well, keeps the skin moisturized, and doesn’t leave a white cast,” said Kang Gyu-bin, a Seoul-based office worker in her twenties. “It works beautifully under makeup.” However, not all iterations have received equal praise. While the original pink-toned version maintains cult status, newer color variants like the purple edition have drawn criticism for settling into fine lines and making pores more visible. Perhaps no brand better illustrates the gap between international fame and domestic anonymity than Beauty of Joseon. Its Relief Sun: Rice + Probiotics sunscreen reached the top of Amazon’s sunscreen rankings during Black Friday 2022 but remains relatively unknown in its home country. Another hallmark of Korean sunscreen culture is its segmentation by skin type. Espoir’s Water Splash Ceramide Sunscreen, for example, offers hydrating benefits but can be too rich for oily or combination skin. Experts recommend patch testing — typically on the neck — before committing to full application. This tailored approach reflects a broader industry philosophy: no one-size-fits-all solutions. Meanwhile, sun sticks have emerged as one of the most pragmatic solutions for South Korea’s on-the-go urbanites. Bring Green Tea Tree Cica Cooling Sun Stick provides a refreshing, mess-free way to reapply protection without disturbing makeup or staining clothes. Similarly, Round Lab’s Birch Juice Sun Stick mirrors its cream counterpart’s gentle formula in a more portable form. These innovations, far from being mere trends, speak to a deeper cultural orientation around skincare. In South Korea, sunscreen is not just a product — it is part of a layered, thoughtful regimen built around effectiveness, texture, and daily lifestyle. For tourists eager to experience the best of K-beauty, knowing what locals actually use may be the ultimate travel souvenir. 2025-06-20 10:10:48

Chinese singer Nina makes confident K-pop debut with 'Never Afraid' SEOUL, June 19 (AJP) - Chinese singer Nina officially stepped into the K-pop spotlight on Thursday, Jun. 19, with the release of her debut mini album Never Afraid. Featuring four tracks, the album marks the beginning of her solo journey, blending her unique tone with a message of determination and self-belief. Before debuting, Nina steadily gained attention through cover videos and live content, quietly building a loyal fanbase. In an interview, she said her dream of becoming a singer has never wavered. "I never once gave up on my dream of becoming a singer, even back in school," she said during an interview with AJP on Jun. 16. "I discovered the joy of performing by covering K-pop dances with friends, and I practiced with all my heart every day during my trainee period. There were more exciting moments than hard ones." The title track, Freeze, reflects her emotions leading up to her debut. "I wanted to express the nervousness and determination I felt," she said. "The line 'More than expectations, may this feeling never fade' really reflects my mindset. I want to move forward without losing the feeling I had at the start." While most of the response has been positive, some critical voices have surfaced online. Nina remains unfazed. "I know that more people support me, so I won't be shaken," she said. "At first, even my parents were against my dream, but they recognized my sincerity and effort, and now they're my biggest supporters." She smiled and added, "If there's anything I need to improve, please let me know. I'll do better." Nina named BLACKPINK's Jennie as her role model. "I want to be an artist who shows outstanding talent and charm like Jennie," she said. "I hope to keep connecting with fans through diverse content and grow as an artist." With Never Afraid, Nina delivers a clear statement: she's here, she's ready, and she's not backing down. Through the dreamy mood and emotional tension of Freeze, she captures the uncertainty of first steps and the quiet strength it takes to keep moving forward. 2025-06-19 18:03:10

PHOTOS: Annual Seoul garden show adds Pokemon charm SEOUL, June 19 (AJP) - The 10th Seoul International Garden Show is now open at Boramae Park, offering a vibrant display of horticulture and design through Oct. 20. As in previous years, admission to the exhibition remains free. While Boramae Park itself is accessible into the evening, illuminated by special lighting, dedicated installations and experience booths operate from noon to 7 p.m. This year's show has seen a notable surge in young visitors, a trend largely attributed to the popularity of the "Metamong Garden." This pop-up exhibition features a walking path themed around Ditto, the popular Pokemon character. The path is adorned with various Ditto figures, complemented by purple hydrangeas and wisteria, creating what organizers and visitors alike describe as an ideal setting for photographs. The blend of recognizable characters and purple-hued flora appears to be a significant draw for a younger demographic. Boramae Park is readily accessible via several subway stations, including Boramae, Boramae Park, Boramae Hospital and Sindaebang stations, as well as numerous bus connections. 2025-06-19 17:28:50

Number of single-person households continues to grow SEOUL, June 19 (AJP) - An increasing number of South Koreans are opting to live alone. According to a report released by Statistics Korea on Thursday, the number of single-person households surpassed 8 million last year, up a whopping 616,000 households from a year ago. Those who live alone are increasingly likely to be employed, with some 5.1 million having jobs, up 426,000 from the previous year. By area, Gyeonggi Province had the highest number of employed single-person households at 1.23 million, followed by Seoul with about 1.06 million and South Gyeongsang Province with 312,000. Among single wage earners, 31.9 percent earned between 2 million won and 3 million won per month (US$1,450 to $2,200), while 25.3 percent made between 3-4 million won and 2.1 percent more than 4 million won. Meanwhile, the number of dual-income households stood at 6.09 million, accounting for nearly half of all married households or 48 percent, a slight decrease from the previous year. The proportion of dual-income couples was largest among married households in their 30s at 61.5 percent, followed by 40-somethings at 59.2 percent. 2025-06-19 17:27:39

Gov't to hand out cash vouchers to boost consumption SEOUL, June 19 (AJP) - All South Koreans will get a cash voucher ranging from 150,000 won to 500,000 won (US$109 to $362) depending on their income brackets, as early as next month. It is part of plans to boost private consumption and revive the economy, as President Lee Jae-myung signed off on a supplementary budget worth 20.2 trillion won ($14.5 billion) during a cabinet meeting in Seoul on Thursday. The budget, which still requires parliamentary approval, also includes support for struggling small business owners and financially vulnerable individuals by easing their debt burdens and resolving insolvencies. The ruling Democratic Party (DP) called for swift approval to help those facing financial hardship, while the main opposition People Power Party (PPP) criticized the move as a populist policy, arguing that simply handing out cash from the state coffers would only increase the national debt, which has now risen to 1,300 trillion won. The debt-to-GDP ratio also climbed to 49 percent, nearing 50 percent. Lee plans to deliver a speech on the budget at the National Assembly early next week, according to his office. He is also scheduled to meet with DP and PPP leaders at his temporary residence in Hannam-dong this weekend. 2025-06-19 16:34:13

HD Hyundai deepens investment in Bill Gates–backed nuclear start-up SEOUL, June 19 (AJP) - HD Hyundai said Thursday it has strengthened its partnership with TerraPower, joining a $650 million funding round led by the U.S. nuclear firm. The fresh capital infusion will help finance construction of the first commercial Natrium reactor in the United States and support broader international deployment of TerraPower’s small modular reactor (SMR) technology, according to the company. Founded in 2006 by Bill Gates, TerraPower is developing the Natrium system, a next-generation SMR that combines a sodium-cooled fast reactor with a molten salt-based energy storage system. The dual-technology design allows for both stable baseload electricity and adaptable output to meet shifting power demand. Thursday’s announcement marks a deepening of HD Hyundai’s strategic investment in TerraPower. The South Korean firm first entered the partnership in 2022, when its shipbuilding unit, HD Korea Shipbuilding & Offshore Engineering, invested $30 million in the nuclear start-up. In December 2024, HD Hyundai signed a reactor vessel supply contract for the inaugural Natrium plant. That was followed by a formal agreement in March 2025 to co-develop the manufacturing infrastructure necessary to scale future deployments. As interest in SMRs accelerates, driven by both climate imperatives and energy security concerns, TerraPower aims to position itself as a leading provider of scalable, cost-effective nuclear solutions. 2025-06-19 16:28:20

PHOTOS: Farmers rush harvest as monsoon looms SEOUL, June 19 (AJP) - As summer's full intensity takes hold, farmers across the region are working feverishly to bring in their crops. They aim to complete the harvest before the anticipated arrival of the monsoon season. From sun-baked fields, images emerge of these determined cultivators, their brows beaded with sweat, locked in a daily struggle against the elements. 2025-06-19 15:17:31

Fed holds rates, prompting caution in Seoul about monetary easing SEOUL, June 19 (AJP) - The U.S. Federal Reserve has opted to keep interest rates unchanged for a fourth consecutive meeting, a decision that is expected to prompt South Korea’s central bank to adopt a more cautious approach to monetary easing in the month ahead. The Fed’s decision, made during the June 17–18 Federal Open Market Committee (FOMC) meeting, leaves the U.S. benchmark rate at 4.25 to 4.50 percent. The Bank of Korea (BOK), which lowered its key rate to 2.50 percent in May from 2.75 percent, has now widened the rate gap with the United States to a record 2 percentage points. Analysts warn that further unilateral cuts by the BOK could heighten the risk of capital outflows and add pressure to the already volatile won-dollar exchange rate. The growing divergence in monetary policy comes at a delicate time for South Korea’s financial system. After months of stagnation, the country's household lending is again on the rise. Many observers now expect the BOK to hold rates steady at its next meeting in July as it reassesses financial stability risks. In Washington, the Fed is holding firm against growing political pressure to accelerate rate cuts, despite calls from President Donald Trump and Treasury Secretary Scott Besant to ease monetary policy more aggressively. Citing persistent inflation risks, particularly those linked to recent tariff increases, Fed Chair Jerome Powell emphasized the need for restraint. “Everyone that I know is forecasting a meaningful increase in inflation in coming months from tariffs, because someone has to pay for the tariffs,” Powell said during a press conference on Wednesday. “All through that chain, people will be trying not to be the ones who take up the cost, but ultimately, the cost of the tariff has to be paid. And some of it will fall on the end consumer.” In South Korea, BOK Governor Rhee Chang-yong echoed Powell’s cautious tone in a June 12 speech marking the central bank’s 75th anniversary. While noting that the won-dollar exchange rate had recently stabilized in the mid-1,300 won range, Rhee warned that renewed volatility remained a risk amid global monetary uncertainty and ongoing trade disputes. He defended the May rate cut as necessary to support an economy that had suffered through more than a year of near-zero or negative growth. Rhee expressed particular concern about Korea’s overheated real estate market, warning that aggressive easing could fuel price inflation in the capital region without delivering a broad-based economic rebound. 2025-06-19 14:54:25