Trump trade war to hit US harder than China: World Bank SEOUL, June 11 (AJP) - The World Bank sharply lowered its forecast for U.S. economic growth this year, citing mounting fallout from the Trump administration’s trade policies. In its latest Global Economic Prospects report, released Tuesday, the bank revised its U.S. growth estimate to 1.4 percent for 2025, down from 2.8 percent in 2024. The Washington-based institution attributed the downgrade primarily to U.S. President Donald Trump’s tariff measures, which it said are weighing more heavily on domestic growth than on the economies of targeted trading partners. Globally, the World Bank trimmed its growth projection to 2.3 percent, down from a previous estimate of 2.7 percent, warning that rising protectionism and heightened economic uncertainty are suppressing investment and trade across nearly all major economies. “This would mark the slowest rate of global growth since 2008, outside of full-fledged global recessions,” the report noted. China, the central focus of the Trump administration’s trade efforts, is expected to maintain its growth trajectory, with projections holding steady at 4.5 percent for this year and 4.0 percent for 2026. Europe and Japan are also expected to face continued economic headwinds. Growth in both the eurozone and Japan is projected at 0.7 percent this year, with modest recoveries anticipated in 2026, reaching 0.8 percent. Despite the bleak outlook, the World Bank offered a glimmer of optimism. A swift resolution to trade tensions could yield modest global gains, potentially boosting growth by as much as 0.3 percentage point by 2026. “Increased trade barriers, heightened policy uncertainty, and multiple downside risks are weighing on the global outlook,” the bank said, stressing that “revitalizing and re-energizing global dialogue and cooperation are paramount.” Meanwhile, senior officials from the United States and China are meeting in London this week in an effort to ease tensions stemming from tariffs and export restrictions on critical materials such as rare earth minerals. 2025-06-11 14:49:25

PHOTOS: BTS members discharged from military SEOUL, June 11 (AJP) - The final members of the global sensation BTS have completed their mandatory military service, with Jimin and Jungkook concluding their duties on Tuesday, following RM and V who were discharged on Monday. Suga is expected to be the last to return, with his discharge slated for June 21. Their returns follow those of Jin, who was discharged last June, and J-Hope, who completed his service in October. In recognition of the members' return, HYBE, BTS's agency, has adorned the exterior of its headquarters in Yongsan-gu, Seoul, with the official logos of BTS and their dedicated fanbase, ARMY, alongside the phrase "WE ARE BACK." 2025-06-11 14:45:48

Rainy season to start early this year with first monsoon rainfall in Jeju SEOUL, June 11 (AJP) - This summer's first monsoon rains will drench the country later this week, starting with the southern resort island of Jeju, which is expected to see up to 40 mm of precipitation, the Korea Meteorological Administration said Wednesday. According to the KMA, the monsoon rain front currently hovering near Japan will move north as a North Pacific high-pressure system approaches, bringing heavy rainfall to Jeju Island on Thursday before spreading to other southern and central regions over the weekend. This year's rainy season arrives about a week earlier than usual, as the monsoon usually begins in mid-June on the Korean Peninsula. But it remains to be seen whether the entire country will soon come under the full influence of the monsoon front. Many meteorologists forecast a wetter summer ahead, as an unusually strong North Pacific high-pressure system is likely to cause more frequent and unpredictable torrential downpours. A KMA official warned, "In recent years, extreme downpours have occurred even after the monsoon season ends, so it is advised to stay prepared for heavy rainfall that may persist through August and beyond." 2025-06-11 14:12:56

Lee confirms presidential watch plan, puts tradition back on track SEOUL, June 11 (AJP) - President Lee Jae-myung on Wednesday addressed recent speculation that he might do away with the time-honored tradition of presidential watches, saying a new edition will be made with an emphasis on value and purpose. “After listening to various suggestions, I decided a meaningful and practical gift would be most appropriate," Lee wrote on Facebook. "I’ve instructed that a cost-effective presidential watch be produced.” The announcement came after reports surfaced that Lee had cast doubt on the need for presidential watches during a recent dinner with ruling party leaders. When asked if there would be a “Lee Jae-myung watch,” he reportedly replied, “Is that really necessary?” That offhand comment led some to believe he planned to skip the tradition altogether. Since the days of President Park Chung-hee, South Korean presidents have handed out wristwatches or pocket watches bearing their name or signature. These gifts, often given on special occasions, have become coveted items among collectors, with prices ranging from about 25,000 won (18.2 dollars) to over 550,000 won. Lee explained that after his remark was reported, many people reached out to express disappointment, emphasizing that the presidential watch is among the most symbolic and cost-efficient gifts available. "Given its role as a symbol of the Republic of Korea, we’ll prepare it with care so it can be something people take pride in," he said. "I think it’s something worth looking forward to." Presidential spokesperson Kang Yu-jung also addressed the rumors on Tuesday, saying, "It’s not true that President Lee decided against producing the watches. He asked for popular gift items, including watches, to be identified, and they’re being prepared for production." 2025-06-11 12:41:42

US reaffirms commitment to alliance with S. Korea under new president SEOUL, June 11 (AJP) - The United States has expressed confidence that its alliance with South Korea will continue to "thrive" under President Lee Jae-myung's administration, inaugurated last week, according to a briefing from the State Department on Tuesday (local time). State Department spokesperson Tammy Bruce extended her congratulations to President Lee once again, stating, "We are confident under his leadership that our alliance will continue to thrive." However, the U.S. declined to comment on Lee's "pragmatic" foreign policy, which seeks to maintain stable relations with China while strengthening the alliance between the U.S. and South Korea. She suggested contacting the White House for U.S. President Donald Trump's stance on that matter. The State Department's announcement came four days after Lee and Trump's phone call, which lasted about 20 minutes. According to South Korea's Presidential Office, the two leaders agreed to arrange an in-person meeting at the earliest opportunity to pursue a mutually acceptable resolution on tariff-related issues. Trump has decided to double tariffs on steel and aluminum products from 25 percent to 50 percent starting Jun. 4. The Korea Development Institute (KDI) analyzed that trade uncertainty remains elevated due to the tariff hike and renewed concerns over the U.S.-China trade tensions. They will be meeting in the upcoming G7 Summit, scheduled to take place from Jun. 15 to 17 in Canada, where Lee has been invited as a guest. 2025-06-11 11:04:28

Samsung SDI signs battery supply deal with German energy firm SEOUL, June 11 (AJP) - Battery manufacturer Samsung SDI said on Wednesday that it has signed a new supply agreement with Tesvolt, a leading German energy storage company. While the company did not disclose the value or exact timing of the deal, a Samsung SDI spokesperson confirmed that executives from both firms met on May 8 regarding the agreement. The contract will see Samsung SDI deliver its flagship battery solution, the Samsung Battery Box, to Tesvolt by the end of June. The deal builds on a longstanding partnership between the two companies, which began in 2017. According to Samsung SDI, the agreement could serve as a springboard for deeper collaboration, with further supply negotiations and joint marketing efforts planned for upcoming energy storage projects. Samsung SDI also noted during its first-quarter earnings call that it has already secured orders accounting for approximately 90 percent of its planned energy storage system battery production for 2025. 2025-06-11 10:27:12

Poland set to acquire 180 more K2 tanks from South Korea SEOUL, June 11 (AJP) - Defense manufacturer Hyundai Rotem is close to finalizing a multibillion-dollar arms agreement with Poland, paving the way for the delivery of an additional 180 K2 main battle tanks. Valued at approximately 9 trillion won, or around $6 billion, the contract is expected to be signed by late June or early July, industry sourced close to the deal said Wednesday. If concluded, it would mark the largest single arms export deal in South Korea’s history and the first major defense sale under President Lee Jae-myung’s administration. The agreement constitutes the second phase of Poland’s acquisition of K2 tanks, following a 2022 contract that also covered 180 units. That earlier deal formed part of a broader framework under which Poland agreed to purchase up to 1,000 K2 tanks, along with K9 self-propelled howitzers and FA-50 light combat aircraft, in a sweeping effort to modernize its military in the wake of Russia’s invasion of Ukraine. The new contract will include two tank variants: 117 units of the K2 GF, a stopgap model based on the version currently used by the South Korean Army, and 63 units of the K2 PL, a locally customized variant tailored to meet Poland’s specific operational requirements. Under the terms of the deal, Hyundai Rotem will manufacture the K2 GF tanks in South Korea. The K2 PL units, however, will be produced domestically in Poland by the state-owned defense conglomerate PGZ, under a technology transfer arrangement. Defense officials attribute the sharp increase in the deal’s value — nearly double that of the 2022 agreement for the same number of tanks— to added costs associated with local production, maintenance and repair infrastructure, and extensive technology-sharing commitments. "The Korean and Polish governments are currently in the final stage of negotiations regarding the K2 tank implementation agreement," said Cho Yong-jin, a spokesperson for South Korea’s Ministry of National Defense. Negotiations for this second-phase deal began soon after the initial deliveries in 2022 but were slowed by political upheaval in Poland and the imposition of martial law in South Korea last December. Still, sources familiar with the talks say that technical and logistical matters have largely been resolved, and that both sides are now finalizing the legal and procedural aspects of the agreement. 2025-06-11 10:20:37

PHOTOS: Global rhythms converge in Busan for dance festival BUSAN, June 10 (AJP) - The 21st Busan International Dance Festival (BIDF) recently concluded, transforming the city into a vibrant hub of global dance from June 4 to 8. Performances captivated audiences at the Busan Cinema Center Theatre, a specially erected stage on Haeundae Beach, and other venues. This year's festival drew a diverse array of talent, featuring 30 dance companies from nine countries, including South Korea, Hungary, France, Canada, Japan, Singapore, Argentina, Italy, and the Philippines. A particular highlight was the highly anticipated Asian premiere of "CARMINA BURANA" by the Szeged Contemporary Dance Company of Hungary. The powerful production was staged three times between June 5 and 7, earning resounding applause from festival-goers. During the opening ceremony, Istvan Szerdahelyi, the Hungarian ambassador to South Korea, expressed his country's gratitude for being invited as the BIDF's guest nation. He extended an invitation to attendees to discover new facets of Hungarian artistry and creativity through the dance company's performances. The special stage at Haeundae Beach provided a breathtaking setting for performances on June 6 and 7. Against the backdrop of the ocean and the setting sun, a rich tapestry of dance forms unfolded, including street dance, contemporary dance, folk dance, ballet, and tango, showcasing the universal appeal and diverse expressions of movement. 2025-06-10 17:51:30

Lee invites Xi to APEC summit in first phone talks SEOUL, June 10 (AJP) - President Lee Jae-myung spoke with Chinese President Xi Jinping over the phone on Tuesday. It was Lee's first conversation with Xi and his third with a foreign leader since taking office, after he talked with U.S. President Donald Trump last week and Japanese Prime Minister Shigeru Ishiba the previous day. In their phone conversation which lasted about 30 minutes, Xi congratulated Lee on his election earlier this month while expressing his hopes for "improved relations between the two countries." "Lee and Xi discussed ways to enhance bilateral cooperation," presidential spokesperson Kang Yu-jung said. According to Kang, Lee asked Xi for Beijing to play a "constructive role" in North Korea's denuclearization to ensure peace and stability on the Korean Peninsula, while Xi urged Seoul to cooperate in upholding free trade to ensure the stability of global supply chains, in an apparent effort to counter U.S. President Donald Trump's sweeping tariff policies. Lee also invited Xi to attend the upcoming Asia-Pacific Economic Cooperation (APEC) summit, scheduled for November in the historic southern city of Gyeongju. The two leaders agreed to work together to ensure the summit's success and to promote exchanges between the two countries. If Xi attends the summit, it will be his first visit to South Korea in about 11 years. 2025-06-10 17:12:50

Samsung Electronics sees surge in AI appliance sales SEOUL, June 10 (AJP) - Samsung Electronics reported a sharp rise in sales of its flagship artificial intelligence-powered home appliances in the first five months of 2025. The company said sales of its AI-enhanced air conditioners, refrigerators, and washing machines grew significantly year-over-year between January and May, underscoring growing consumer appetite for connected, adaptive home devices. Sales of Samsung’s AI air conditioners — including both stand-alone and wall-mounted models — rose approximately 30 percent compared to the same period in 2024. In May alone, daily sales averaged 10,000 units, hitting that milestone a full month earlier than last year. The company’s Bespoke 4-door KitchenFit refrigerator also posted robust performance, with cumulative sales climbing about 40 percent year-over-year for the January-to-May period. Meanwhile, the Bespoke AI Combo washer-dryer, which integrates washing and drying in a single unit, recorded more than 10 percent sales growth over the same five-month span. For the first time since its launch, monthly sales of the model exceeded 10,000 units in May — a sign, Samsung said, of surging consumer interest in multifunctional, intelligent appliances. The 2025 AI lineup features upgrades that enable devices to learn from user behavior and adjust operations accordingly. The air conditioners are equipped with “AI Comfort,” which analyzes patterns of use, weather conditions, and humidity levels to automatically calibrate cooling modes. The system’s “AI Saving Mode” can reduce energy consumption by up to 30 percent, according to the company. To promote the new range, Samsung launched a high-profile “Troika Campaign” featuring celebrities Kim Yuna, Han Ga-in, and Jun Ji-hyun, all former brand ambassadors. A campaign video highlighting how the actors incorporate AI appliances into their daily lives has garnered more than 40 million views, a testament to strong public interest in AI-driven home technologies. 2025-06-10 16:51:33