Prosecutors Seek Two-Year Prison Sentence for Yoon Suk Yeol Over False Statements The special prosecutor's team, led by Kim Geon-hee, has requested a two-year prison sentence for Yoon Suk Yeol, who is charged with making false statements during his campaign as the presidential candidate for the People Power Party.During the final hearing on Yoon's election law violation case held on June 8 at the Seoul Central District Court, the special prosecutor urged the court to impose a two-year sentence.The special prosecutor stated, "The Constitution of the Republic of Korea mandates that the president be elected by direct vote of the people, making the dissemination of false information that influences the public's judgment a serious crime in itself. Following the defendant's statements in this case, various allegations against him quieted, allowing him to maintain his status as a leading presidential candidate."Additionally, the prosecutor argued, "Considering the trends in approval ratings and vote margins during the 20th presidential election, this offense should be viewed as having influenced the election results."Yoon is accused of making false statements regarding Jeon Seong-bae during an interview at the launch of the Buddhist Leaders Forum on January 17, 2022, claiming he had met Jeon only through introductions and had never met him with his wife.He is also charged with making false statements at a discussion hosted by the Kwanhun Club on December 14, 2021, denying that he introduced a lawyer to Yoon Dae-jin, the brother of former Yoon Suk Yeol, while serving as the head of the Central Investigation Department of the Supreme Prosecutors' Office in 2012.If Yoon receives a sentence of more than 1 million won in fines in this case, the People Power Party will be required to return 39.7 billion won in election expenses to the National Election Commission, which were reimbursed after the presidential election.* This article has been translated by AI. 2026-06-08 16:36:00

KOSPI Plummets to 7,000s Amid High-Leverage Investor Losses Concerns over interest rate hikes from the U.S. and a sharp decline in global tech stocks have heightened volatility in South Korea's stock market. Individual investors, who had heavily invested in single-stock leveraged ETFs for Samsung Electronics and SK Hynix, now face significant valuation losses as leading stocks tumble. Amid growing warnings of overheating from foreign media, concerns about the concentration in the domestic stock market are also rising. On June 8, the KOSPI opened at 8,048.09, down 112.50 points (1.38%) from the previous trading day, and the decline accelerated, triggering a circuit breaker at 9:03 a.m. The index fell as low as 7,442.73, prompting a sell-off sidecar, and ultimately closed at 7,484.41, down 676.18 points (8.29%). The KOSPI index, which had closed at 8,801.49 on June 2, dropped 15% in just three trading days. The decline follows strong U.S. employment data in May, raising concerns about tightening by the Federal Reserve, coupled with news of capital increases being considered by hyperscalers, which has sparked debates over AI profitability. Major stocks like Samsung Electronics and SK Hynix were hit hard, with Samsung falling 10.18% to 295,500 won and SK Hynix dropping 7.68% to 1,911,000 won. Single-stock leveraged ETFs, which attracted many individual investors, were particularly hard hit. The trading volume for 16 leveraged and inverse ETFs focused on Samsung and SK Hynix reached 8.2 trillion won on this day. Since the listing of related products on May 27, 14 types of long-direction leveraged ETFs saw a cumulative trading volume of 58 trillion won and net purchases by individuals of 7.4 trillion won over seven trading days until June 5. During the same period, approximately 79% of the total net purchases of domestic equity ETFs (7.7 trillion won) were concentrated in semiconductor-related products, exacerbating market concentration. As the underlying assets plummeted, leveraged ETFs also experienced significant declines. The KODEX Samsung Electronics single-stock leveraged ETF dropped 20.71%, while the TIGER Samsung Electronics single-stock leveraged ETF fell 20.69%. The SK Hynix leveraged ETF also saw declines of 15% to 17%. In contrast, inverse products recorded double-digit gains. While the exact scale of losses for individual investors has not been quantified, industry experts believe that a significant number of investors have likely entered a valuation loss zone. Historically, individual investors have shown a tendency to aggressively buy leveraged products during stock price declines. Park Yoo-an, a researcher at KB Securities, noted, "In the domestic leveraged ETF market, the correlation between individual supply and daily returns is low," adding that there is a characteristic of concentrated bargain hunting during downturns. Opinions on the market outlook are divided. Bloomberg reported that global investors are shifting from optimism to caution regarding the Korean stock market. Some foreign investment institutions are reducing their exposure to AI-related stocks or increasing their hedging. European financial firm Optiver warned that the proliferation of single-stock leveraged products could increase market volatility. Conversely, domestic securities firms view the recent drop as a process of overheating correction rather than a trend reversal. Jo A-in, a researcher at Samsung Securities, stated, "This adjustment is more about normalizing overheated positioning than damaging the AI semiconductor industry," and noted that the earnings estimates for domestic companies remain on an upward trajectory, enhancing the valuation appeal of the Korean stock market. Therefore, rather than rushing into bargain buying, it is advisable to gradually increase exposure to AI-leading stocks by utilizing the short-term volatility expected from major events scheduled for this week. However, with the U.S. Consumer Price Index (CPI) announcement and simultaneous expiration of futures and options scheduled for this week, short-term volatility is expected to continue. Lee Kyung-min, a researcher at Daishin Securities, commented, "The excessive concentration of leading stocks has accumulated as a result," suggesting that while it is necessary to keep open the possibility of the KOSPI dropping to the low 7,000s or temporarily falling below that level, there is no need to hastily sell leading stocks. 2026-06-08 16:36:00

I-DLE to release ninth EP 'We made' in July SEOUL, June 08 (AJP) - K-pop girl group I-DLE will return with its ninth EP, "We made," on July 6, its agency Cube Entertainment said Monday. The agency unveiled a teaser for the album through the five-member group's official social media channels at midnight. "We made" marks I-DLE's first release in six months since the digital single "Mono (Feat. skaiwater)" in January, and its first EP in a little over a year since "We are" in May last year. The teaser uses thermal camera and X-ray imagery to visualize how love registers in the body, tracing heat from the chest to the fingertips and into the minds of two figures facing each other. The album logo uses a distortion effect that echoes the emotional intensity of the visuals. Formed in 2018, I-DLE garnered immediate recognition, winning their first music show award just 20 days after debut and going on to receive multiple rookie awards at major year-end ceremonies that year. The group is widely regarded as one of the most successful K-pop girl groups outside of the industry's major labels. Before the EP's release, I-DLE will perform in Singapore, Yokohama and Hong Kong as part of its fourth world tour, "2026 I-DLE WORLD TOUR ." 2026-06-08 16:33:18

Nvidia CEO meets SNU students before wrapping up whirlwind Seoul trip SEOUL, June 8 (AJP) - Nvidia CEO Jensen Huang, who has become the talk of the town due to his high-profile visit to Seoul, met with students at Seoul National University on Monday. Huang attended an on-campus event at the country's top university in southwestern Seoul, where participants were introduced to an artificial intelligence (AI)-assisted platform called "OpenClaw." He also delivered a 15-minute lecture on AI technology and its impact on future industries. Huang woke early in the morning to visit key business partners including SK Group and LG Group. Later in the day, he is also scheduled to visit automaker Hyundai Motor Group’s headquarters in Yangjae, southern Seoul, and online portal Naver's headquarters in Seongnam, Gyeonggi Province. Since his arrival in Seoul last Friday, Huang has kept a busy schedule, mingling with business leaders at informal gatherings that began with grilled pork belly and a mix of soju and beer at a barbecue restaurant, before moving to a nearby fried chicken restaurant for a late-night second round. He also threw the ceremonial first pitch at a baseball game and joined another gathering over fried chicken and beer. He is set to wrap up his stay here later in the day or early Tuesday. 2026-06-08 16:30:45

Protesters block Seoul vote-counting venue for fourth day as rally mood shifts SEOUL, June 08 (AJP) - A protest blocking the entrance to a vote-counting venue for the local elections that took place last week in Seoul entered its fourth day on Monday, as demonstrators gathered outside the handball stadium at Olympic Park in the southern Seoul district of Songpa. Police estimated around 1,600 people remained at the scene, maintaining a blockade of the facility. The crowd had peaked the previous day, swelling from 3,000 at noon to 20,000 by 6 p.m. before thinning overnight. Some participants stayed through the night, vowing to prevent ballot boxes from being removed, and blocked all ten entrances to the counting venue. Authorities had been expected to forcibly disperse the crowd Monday morning, but as of Monday afternoon no such action had been taken. The protest, which began June 5 following a ballot shortage during the June 3 local elections, shifted noticeably in tone on Monday. Over the previous three days, organizers had discouraged the display of American flags and chants alleging electoral fraud, in an effort to broaden the rally's appeal. On Monday, however, demonstrators waved American flags and homemade Korean flags, held handmade signs, and chanted "fraudulent election, hold a new election" without pause. Participants spanning their twenties through their sixties were present. 2026-06-08 16:30:11

Clean Country Expands Export of White Paperboard to Vietnam, Targets CCKB Market Clean Country announced on June 8 that it is accelerating its export of white paperboard, focusing on Vietnam. Since establishing its Ho Chi Minh City branch in 2022, Clean Country has strengthened its localized sales and operational systems, enhancing its responsiveness to the Southeast Asian market. As a result, the volume of white paperboard exports to Vietnam is expected to increase by approximately 21% from 2021 to 2025. Vietnam's status as a global manufacturing hub is expanding, leading to a continuous rise in demand for packaging materials. Clean Country explained that global manufacturers such as Heineken, Coca-Cola, Samsung, and LG are increasing their production bases in Vietnam, which is driving steady demand for industrial packaging in the food and beverage, electronics, and consumer goods sectors. In response to these market changes, Clean Country is intensifying its efforts to penetrate the high-value packaging segment with its CCKB product. CCKB is known for its superior strength, moisture resistance, and printability compared to standard white paperboard, making it highly suitable for premium packaging applications such as beverage carriers, HMR, and consumer goods packaging. The company is also expanding its local customer engagement. It is managing existing clients while seeking new buyers, continuously adapting its sales activities to reflect market changes and customer demands in real-time. This strategy aims to broaden its supply to both global corporations and local businesses, thereby increasing its market share in Vietnam. Previously, on May 15, Clean Country signed an export contract with a U.S. distributor in the world's largest toilet paper market, valued at approximately $59 billion, announcing its plans to supply its brand 'Pure Soft' to the U.S. market. A Clean Country representative stated, "Vietnam is a strategic market characterized by a young population, its role as a global manufacturing hub, and a simultaneous shift towards eco-friendly packaging. We plan to strengthen our competitiveness in high-value packaging materials based on our local presence and continue to expand in the Southeast Asian and global markets."* This article has been translated by AI. 2026-06-08 16:30:00

NVIDIA CEO Jensen Huang Visits Naver Headquarters, Emphasizes GPU Benefits Jensen Huang, CEO of NVIDIA, visited Naver's 1784 headquarters in Seongnam, South Korea, on June 8, stating, "The more GPUs you have, the more you can work and the happier you can be." According to the IT industry, Huang arrived at the Naver headquarters at 3:45 PM, where he met with Naver Chairman Lee Hae-jin and CEO Choi Soo-yeon. Upon arriving in the lobby, he warmly embraced Lee, marking their second meeting during Huang's visit, following their first encounter on June 5. Naver prepared a webtoon featuring Huang and Lee as characters, asking them to fill in the dialogue for the final scene. A Naver representative explained, "The short comic you are seeing is created by the authors of one of Naver Webtoon’s flagship works, 'Legendary Territory Designer.' The protagonist of today’s story is a young person with the honest dream of wanting to achieve both work and happiness. By chance, he meets two mentors, Lee Hae-jin and Jensen Huang, to seek their advice." Huang remarked, "It’s very difficult to create (the dialogue)," but he contributed the line, "The more GPUs you have, the more you can work and the happier you can be." Lee added his line, saying, "Happiness is like pork belly, and work is like perilla leaves. Wrap them together and enjoy them at once." He noted, "I recently had a gathering over pork belly, so that memory is still fresh. I believe there is a good way to have both work and happiness without separating them." Huang agreed, stating, "I concur. Both of us are working hard and are very happy."* This article has been translated by AI. 2026-06-08 16:27:00

Investment Association's Direct Listing of Public Funds Loses Momentum After 8 Months The Financial Investment Association's ambitious initiative to allow direct listings of public funds has lost significant traction just eight months after its launch. A lack of market interest, regulatory limitations, and the anticipated introduction of fully active exchange-traded funds (ETFs) have raised doubts about the program's future. As of June 8, sources in the financial investment sector report that the association is not currently engaged in discussions with asset management firms regarding the direct listing of public funds. While several firms explored listing possibilities until the end of last year, inquiries and negotiations have virtually ceased recently. The core of this initiative was to enable investors to buy and sell public funds on exchanges like regular stocks. It aimed to provide a new investment vehicle for those preferring more active management strategies and to revitalize the sluggish public fund market. The regulatory authorities approved the program as an innovative financial service (sandbox), allowing direct listings to commence on October 27, 2025. However, the market response has fallen far short of expectations since its implementation. Many asset managers opted out due to high listing standards, and investor interest has been limited. Following the listing of the 'Eugene Champion Short-Term Credit X Class,' the average daily trading volume has remained around 39.5 million won. Although some trading occurred initially, there have been no transactions on five of the last ten trading days. The situation is similar for the 'Daishin KOSPI 200 Index X Class,' which has seen an average daily trading volume of about 22 million won since its listing. Analysts attribute the program's failure to meet expectations to insufficient liquidity stemming from a lack of investor interest. Additionally, the government's push to introduce fully active ETFs in the first half of this year poses another challenge. Fully active ETFs allow asset managers to construct portfolios entirely at their discretion, independent of benchmark indices. This could absorb much of the active investment demand that the public fund direct listing sought to capture, leading industry experts to view fully active ETFs as a potential substitute. A representative from the Financial Investment Association stated, "There are currently no discussions regarding the direct listing of public funds, likely due to issues such as the fully active ETFs." If the current situation persists, there are concerns that the public fund direct listing may not extend beyond its sandbox trial period. As an innovative financial service, if it fails to demonstrate sufficient results after a two-year validation period, extending or formalizing the program may prove difficult. The public fund direct listing was a key initiative pushed by former Financial Investment Association Chairman Seo Yoo-seok during his tenure. Some analysts suggest that the lack of market success, coupled with the new leadership's priorities, may have diminished the focus on initiatives launched under the previous administration. 2026-06-08 16:27:00

7.8 Magnitude Earthquake Strikes Southern Philippines, Leaving 12 Dead and Over 200 Injured A 7.8 magnitude earthquake struck southern Philippines on June 8, resulting in at least 12 fatalities and over 200 injuries. According to the U.S. Geological Survey (USGS) and the European-Mediterranean Seismological Centre (EMSC), the quake occurred at 7:37 a.m. local time in the waters south of Mindanao Island. The USGS reported that the epicenter was located approximately 60 kilometers south of General Santos City in South Cotabato province, at a depth of 55.2 kilometers. The EMSC initially recorded the earthquake at a magnitude of 8.1 before revising it to 7.8. The Philippine Institute of Volcanology and Seismology identified the epicenter as being about 32 kilometers southwest of the village of Maasim in Sarangani province, with a depth of 33 kilometers. Following the initial quake, several strong aftershocks, including one measuring 6.5, were reported, with tremors felt as far away as Malaysia. According to the Associated Press, at least 12 people have died and more than 200 have been injured, primarily due to collapsing buildings. The damage was concentrated in General Santos, a port city with a population of over 700,000. Rod Sosemeña, a regional director of the Philippine National Disaster Risk Reduction and Management Council, reported that at least seven people died and around 130 were injured in General Santos. Some small buildings collapsed, and several structures, including key access bridges, sustained dangerous cracks. As a result of the earthquake, General Santos International Airport was temporarily closed, and 17 domestic flights were canceled. An additional five fatalities were reported in South Cotabato, Davao Occidental, and Balut Island. A tsunami was also observed along the nearby coast following the earthquake. The Pacific Tsunami Warning Center stated that the tsunami threat had mostly passed about five hours after the quake. Teresito Bacolcol, head of the Philippine Institute of Volcanology and Seismology, reported no damage or casualties from the tsunami so far. Waves of up to one meter were recorded in Sultan Kudarat and Sarangani provinces. An 83-centimeter tsunami was measured off the coast of Sulawesi, Indonesia, prompting the Malaysian Meteorological Department to issue a tsunami warning for Sabah on Borneo. The Philippines is located in the Pacific Ring of Fire, an area prone to frequent earthquakes and volcanic eruptions. It is also considered one of the most disaster-prone countries, affected annually by about 20 typhoons and tropical storms.* This article has been translated by AI. 2026-06-08 16:24:00

Eduwill Partners with Capstone Ventures for Global E-Commerce and AI Education Eduwill has joined forces with Capstone Ventures, a global e-commerce solutions company, to cultivate practical talent for the global e-commerce and artificial intelligence (AI) education markets. On June 8, Eduwill announced that it has signed a memorandum of understanding (MOU) with Capstone Ventures to jointly plan and operate global e-commerce and AI-based education initiatives. The agreement aims to combine the core competencies of both companies to develop practical professionals optimized for the global e-commerce market and the AI education sector, while jointly expanding educational content and project initiatives to create mutual growth and new business opportunities. Under this partnership, the two companies will collaboratively plan and develop global e-commerce and AI education programs, as well as operate hands-on and project-based training courses both online and offline. They will also work together on the production of educational content, marketing collaboration, and the establishment of operational committees to train practical professionals and jointly expand new business opportunities. Capstone Ventures, which has partnered with Eduwill, is a leading global e-commerce consulting firm that has helped grow over 300 brands over the past decade. It is an official select and plus partner of Shopify in South Korea and has established partnerships with major players like Amazon and TikTok. Previously, in April, Eduwill signed an MOU with Vize, a global foreigner lifestyle support solutions company, to innovate the global education ecosystem and create value. An Eduwill representative stated, "In a business environment where AI and global e-commerce converge, practical, specialized education is essential. We aim to provide differentiated real-world programs, including company-linked projects, based on Capstone Ventures' global expertise to nurture the next generation of key talent."* This article has been translated by AI. 2026-06-08 16:24:00