Korea Expands Digital Tourism Resident Card Program to 52 Regions The "Digital Tourism Resident Card" service aimed at revitalizing tourism in declining population areas will significantly expand. Additionally, a large-scale lodging discount event targeting non-capital regions is expected to energize local tourism this summer. On June 8, the Ministry of Culture, Sports and Tourism announced that it will increase the number of local governments participating in the Digital Tourism Resident Card program from 44 to 52 in collaboration with the Korea Tourism Organization. The eight new local governments joining the program include Boeun County in North Chungcheong Province, Sunchang County in North Jeolla Province, Goheung, Damyang, and Wando Counties in South Jeolla Province, Uljin County in North Gyeongsang Province, and Sancheong and Hamyang Counties in South Gyeongsang Province. With the addition of these new regions, the number of locations where visitors can enjoy benefits from the Digital Tourism Resident Card has increased from about 1,100 to over 1,400. Notable new benefits include a 30% discount at the Wando Marine Healing Center, a 35% discount on the Damyang Air Experience, and a 25% discount on the Wangpicheon Cable Car in Uljin. To promote the expanded service, an event will be held from June 22 to 30 at a pop-up store in Starfield Suwon for registration verification. An invitation event linked to the Andong "Hahoe Seonyu Fire Festival" is also planned. Gang Dong-jin, the tourism policy director at the Ministry, stated, "Recently, the Tourism Promotion Act was amended to include provisions that support the sustainable and stable operation of the Digital Tourism Resident Card. The Ministry will gather opinions from various sectors until November to revise the enforcement ordinance, which will refine the issuance criteria and benefit standards, preparing for qualitative growth beyond mere expansion. We will work with local governments to provide more benefits to digital tourists, establishing the card as a practical measure to increase the resident population in declining areas." In conjunction with the expansion of the Digital Tourism Resident Card, the "Summer Lodging Sale Festival" will run from June 11 to July 31, aimed at extending the stay of visitors. The event will include hotels, condos, resorts, and pensions located in 85 local governments in non-capital regions. Lodging discount vouchers will be available starting at 10 a.m. on June 11 through online travel agency channels, limited to one per person on a first-come, first-served basis. This year, a new "Extended Stay Discount Voucher" has been introduced to alleviate the burden on long-term travelers. For reservations of one night, discounts of 30,000 won for stays over 70,000 won and 20,000 won for stays under that amount will be offered. For two or more nights, discounts of 70,000 won for reservations over 140,000 won and 50,000 won for reservations under that amount will be provided.* This article has been translated by AI. 2026-06-08 08:45:00

IBK Securities Maintains Emart Target Price at 120,000 Won, Highlights Shinsegae Property Growth IBK Securities has maintained its target price for Emart at 120,000 won, citing a strong potential for the company's value to be reassessed in the medium to long term due to the growth of Shinsegae Property. The firm also reiterated its 'buy' recommendation. Nam Seong-hyun, a researcher at IBK Securities, stated, "In the medium to long term, Emart's core business is likely to be Shinsegae Property." He noted that the expansion of Starfield construction sites is leading to sustained increases in operational revenue, and there is a robust pipeline for new developments that could further enhance value. He particularly highlighted that Shinsegae Property is diversifying beyond its traditional shopping mall focus to include mixed-use developments such as theme parks, water parks, golf courses, hotels, resorts, and residential complexes. This mixed-use development model is expected to be a key factor in securing competitiveness and driving future revenue growth. Financial performance is also showing improvement. Last year, Shinsegae Property reported an operating profit of 174 billion won, a 125.1% increase from the previous year, with the first quarter of this year yielding an operating profit of 27 billion won. Nam explained, "The revenue increase from the operations of Starfield and Centerfield is driving the improvement in performance." Emart's core business is also expected to continue its recovery in the near term. Analysts believe that the weakening operational capabilities of competitors, improvements in online business practices, enhanced profitability from consolidated purchasing, and better performance from affiliated companies will positively impact results. Nam emphasized, "In the short term, the recovery of core fundamentals will support performance, but in the medium to long term, the growth potential of Shinsegae Property will be the key driver of value increase."* This article has been translated by AI. 2026-06-08 08:45:00

Hana Securities Raises Target Price for Samsung C&T to 650,000 Won Hana Securities announced on June 8 that it is maintaining a "buy" rating for Samsung C&T, citing that the current stock price does not adequately reflect the increased value of its major holdings, including Samsung Electronics. The firm raised its target price from 600,000 won to 650,000 won. In a report released on the same day, analyst Kim Seung-jun noted, "The major controlling stake of Samsung C&T is valued at 106 trillion won, which significantly exceeds the current consensus estimate of 52 trillion won." Kim added, "Despite the recent rise in stock prices, Samsung C&T's valuation remains low. With the current price reflecting a price-to-book ratio (PBR) of 0.7, it is considerably lower than other holding companies such as SK at 1.4, SK Square at 3.3, Doosan at 18.7, and CJ at 1.2. It is also lower compared to construction firms with market capitalizations over 10 trillion won, like Hyundai Engineering & Construction at 1.7, Samsung E&C at 1.8, and Daewoo Engineering & Construction at 2.4." He further explained, "There is a strong narrative that could provide a valuation premium, including quarterly profit growth, accelerating semiconductor investments and the resulting revenue growth, efforts to secure large and small modular nuclear power projects, growth in Raemian orders, and the advancement of solar energy operations in the U.S." Notably, Kim pointed out, "There is also a nuclear power story for the third quarter, as the bidding for the selection of the construction company for Team Korea in Vietnam is expected to take place, and Samsung C&T is anticipated to participate in the bidding." Additionally, he mentioned, "If large nuclear power projects or small modular reactors appear in the form of Team Korea in relation to investments in the U.S. in July, Samsung C&T could gain prominence. Furthermore, we can also expect the potential for securing a large nuclear power project in Romania in the fourth quarter."* This article has been translated by AI. 2026-06-08 08:42:00

IBK Securities Raises Shinsegae Target Price by 47% Amid Asset Development Focus IBK Securities announced on June 8 that it has raised its target price for Shinsegae from 530,000 won to 780,000 won, an increase of 47%. The firm maintains a "buy" rating, citing expectations for expanded asset value through large-scale mixed-use developments beyond the company's traditional department store focus. Nam Seong-hyun, a researcher at IBK Securities, emphasized the need to focus on the potential for strengthened fundamentals due to expanded asset development in the medium to long term. He noted that the momentum is shifting from luxury consumption to asset development. IBK Securities predicts that the ongoing Gwangju Shinsegae development and the Seoul Banpo Express Bus Terminal site redevelopment will be key drivers of corporate value enhancement. The Banpo site, covering approximately 100,000 pyeong, is set to undergo a major mixed-use development that will revamp the existing department store, hotel, terminal, and shopping mall. The firm also anticipates that performance momentum will strengthen further in the second quarter. The effects of the main store's renovation are expected to take hold, alleviating the burden of increased depreciation costs, which will improve profitability. Additionally, favorable operating conditions are expected to continue due to a rise in inbound tourists and increased asset values. The closure of the Incheon Airport DF2 duty-free business is also expected to improve profitability in the duty-free sector, along with the recovery of major subsidiaries' performances. Nam stated, "With the opening of Gwangju Shinsegae in 2028, the value of this project is likely to become more prominent, and considering the various development pipelines, a reassessment of asset development value is necessary at this time."* This article has been translated by AI. 2026-06-08 08:39:00

Oil Prices Surge Amid Middle East Tensions; Semiconductor Stocks Plummet As tensions rise in the Middle East, international oil prices have surged, while U.S. stocks have experienced significant declines. In pre-market trading, major South Korean semiconductor companies, including Samsung Electronics and SK Hynix, saw their shares drop by 7% to 9%, indicating a downturn in investor sentiment and suggesting increased volatility for the KOSPI index. On June 7, at 6 p.m. Eastern Time, West Texas Intermediate (WTI) crude oil for July delivery rose 3.39% to $93.61 per barrel. Similarly, Brent crude for August delivery also increased by the same percentage, reaching $96.25 per barrel. In contrast, futures for the Dow Jones fell by 0.34%, the S&P 500 by 0.42%, and the Nasdaq 100 by 0.44%, reflecting a growing aversion to riskier assets. The U.S. stock market has been in a correction phase since late last week. On June 6, the Nasdaq Composite plummeted 4.18%, marking its largest single-day drop since April of the previous year. The S&P 500 and Dow Jones also fell by 2.64% and 695 points, respectively. Over the week, the Nasdaq dropped 4.7%, while the S&P 500 fell by more than 2%, highlighting a pronounced sell-off in technology stocks. Market anxiety began with stronger-than-expected employment figures for May. A robust job market has led to rising Treasury yields, increasing speculation about further tightening by the Federal Reserve. Concerns have also grown regarding the funding burdens faced by tech companies heavily investing in artificial intelligence (AI). Additionally, Iran resumed missile attacks against Israel, reigniting geopolitical risks as a key market factor. However, analysts believe the likelihood of this conflict escalating into a full-scale war remains limited. The ongoing negotiations for peace between the U.S. and Iran have not completely broken down, suggesting that the surge in oil prices may not be sustained. Investors are closely watching the upcoming U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) reports, as well as SpaceX's anticipated IPO on June 12, to gauge future market direction. Han Ji-young, a researcher at Kiwoom Securities, stated, "In the early part of the week, the aftershocks of the decline in U.S. semiconductor stocks will continue. However, midweek will bring significant events, including the U.S. May CPI report, Oracle's earnings, and the SpaceX listing, which will likely lead to increased volatility." Despite this, he noted, "Following recent corrections, the KOSPI's forward price-to-earnings ratio (PER) has dropped to around 7.8, easing valuation pressures. Given that strong profit momentum in the semiconductor sector remains intact, the potential for a cascading decline is limited. Even if volatility increases during the week, it would be prudent to maintain existing positions rather than join in on panic selling." As the U.S. stock market adjusts and geopolitical risks from the Middle East loom, South Korea's leading semiconductor firms, Samsung Electronics and SK Hynix, are both experiencing declines in pre-market trading. As of 8:23 a.m. on June 8, Samsung Electronics was trading at 306,000 won, down 6.99% (23,000 won) from the previous trading day. SK Hynix also fell 9.23% to 1,879,000 won. Other companies, including LG Electronics, dropped 9.9% to 273,000 won, Naver fell 6.46% to 239,000 won, and Doosan Enerbility decreased by 8.58% to 87,400 won.* This article has been translated by AI. 2026-06-08 08:36:00

Jeon Ji-hyun's 'Gunchi' and Kang Dong-won's 'Wild Thing' Dominate Weekend Box Office Films 'Gunchi' and 'Wild Thing' have secured the top two spots at the weekend box office, marking a successful run for Korean cinema. Following its invitation to the Cannes Film Festival, 'Gunchi' is nearing 5 million viewers, while 'Wild Thing,' starring Kang Dong-won, Um Tae-goo, and Park Ji-hyun, has also performed well in its opening weekend.According to the integrated ticket sales network on June 8, 'Gunchi' attracted 603,876 viewers from June 5 to 7, maintaining its position as the weekend box office leader. The film's cumulative audience stands at 4,727,528, just shy of the 5 million mark.'Gunchi' tells the story of survivors trapped in a building due to an unidentified infection outbreak, facing off against infected individuals who evolve in unpredictable ways. Directed by Yeon Sang-ho, known for expanding the zombie genre with 'Train to Busan' and 'Peninsula,' the film features a cast that includes Jeon Ji-hyun, Koo Kyo-hwan, Ji Chang-wook, Shin Hyun-bin, Kim Shin-rok, and Go Soo.The film garnered significant international attention even before its release. 'Gunchi' was invited to the Midnight Screenings section of the 79th Cannes Film Festival, where it first connected with global audiences. Following its Cannes debut, the film has quickly drawn viewers in South Korea, reaffirming the strength of Yeon Sang-ho's K-zombie genre.In second place is 'Wild Thing,' which opened on June 3 and attracted 321,190 viewers during the same period, bringing its total audience to 543,724. Despite competition from foreign films like 'Backroom,' 'Michael,' and 'The Mandalorian and Grogu,' 'Wild Thing' has maintained a strong presence in the box office alongside 'Gunchi,' showcasing the impact of Korean cinema.'Wild Thing' is a comedy about a three-member mixed dance group called 'Triangle,' which was once a sensation in the music industry but disbanded due to an unexpected incident. The film follows their reckless challenge to seize a second chance 20 years later, with Kang Dong-won, Um Tae-goo, and Park Ji-hyun portraying the members, joined by Oh Jung-se and Shin Ha-kyun.As a dark horse in the box office, 'Wild Thing' has resonated with audiences through its blend of 2000s music nostalgia, comedy, and the performances of its cast. It has achieved a CGV Egg Index score of 93%, indicating stable viewer ratings. Online, the film's ballad 'I Like You' challenge has gained traction, further enhancing its popularity beyond the cinema.Among foreign films, 'Backroom' followed closely with 199,822 viewers during the same period, bringing its total audience to 799,641. The film explores the bizarre experiences of Clark and Mary in a strange space characterized by yellow walls and endless fluorescent lights.'Backroom' has gained word-of-mouth popularity, particularly among Gen Z audiences who have engaged with its world through short videos and memes. Being the first country to release the film has also contributed to its spread on social media and video platforms, establishing it as a successful foreign thriller.With 'Gunchi' leading the box office and 'Wild Thing' generating buzz in its opening weekend, the trend of successful Korean films is becoming increasingly evident. Although the two films differ in genre and tone, both are continuing to thrive based on audience reactions, maintaining interest both inside and outside theaters.* This article has been translated by AI. 2026-06-08 08:36:00

Trade Chief Yeo Han-goo Advocates for Diversifying Trade Networks to Boost Exports Yeo Han-goo, the head of the Trade Negotiation Bureau at the Ministry of Trade, Industry and Energy, stated on June 8 that despite the rapidly changing global trade environment and increasing uncertainties, South Korea's economy achieved significant milestones last year, surpassing $700 billion in exports and reaching the highest cumulative export amount by May. He emphasized the need to diversify trade networks to maintain this upward trend in exports. During the first meeting of the 2026 Trade Policy Advisory Committee held at the Seoul Chamber of Commerce and Industry, Yeo said, "We will implement proactive trade policies to directly address corporate challenges while demonstrating leadership in international trade norms to realize a trade policy centered on national interests." The Trade Policy Advisory Committee, a private advisory body of the Ministry, consists of 30 experts from various fields to gather opinions on trade policy. This meeting marked the first gathering of the newly formed committee following the expiration of the sixth term earlier this year. The newly launched seventh committee has been strengthened with experts in emerging industries such as artificial intelligence (AI), digital industries, and consumer goods, maintaining a total of 30 members. Participants discussed the rapidly changing global trade environment and shared opinions on policy tasks aimed at expanding export markets and stabilizing supply chains. They also proposed various suggestions on key trade issues, including participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as a means to expand trade networks and enhance market access for South Korean companies. The CPTPP, a multilateral trade agreement led by Japan, has included 12 countries since its launch in 2018, including Australia, Canada, and the United Kingdom. The member countries account for 15% of the world's GDP, prompting the South Korean government to explore membership. However, domestic opposition and international approval processes remain significant variables. The Ministry stated, "We will broadly gather opinions on trade policy through various public-private communication channels, including the Trade Policy Advisory Committee, and plan to respond effectively to the rapidly changing global trade environment."* This article has been translated by AI. 2026-06-08 08:36:00

[[Video]] Choi Wook's Controversial 'Tank' Remarks Targeting Lee Jae-myung Choi Wook, the host of the progressive YouTube channel 'Maebul Show,' has sparked controversy with his so-called 'tank remarks.' In a recent broadcast analyzing the results of local elections, Choi referenced certain online communities and aggressive political activities, stating, "Aren't these guys idolizing Chun Doo-hwan?" He added, "We need to push them out of the online space like a tank." He further clarified his comments by saying, "Only regarding that crime," confirming the target of his remarks. Once his comments became public, criticism spread online. Viewers pointed out in the comments, "Are you using Chun Doo-hwan's expressions while criticizing him?" and "Is this what you call the spirit of May 18?" Additionally, some users referenced Shinsegae Group Chairman Jeong Yong-jin, who had previously apologized multiple times for belittling the May 18 Democratic Movement through Starbucks marketing. At that time, some progressive online communities reacted strongly, saying, "This is not a matter that can end with an apology," and called for him to step down from management and be banned from leaving the country. In light of this, some netizens suggested that a boycott of Starbucks, previously organized by President Lee Jae-myung via social media, should also target 'Maebul Show.' In response to the controversy surrounding Choi's remarks, some netizens noted, "Back then, even a single expression drew fierce criticism, but now there seems to be silence," and questioned, "Is the standard different from when it was Jeong Yong-jin?" They raised concerns about a so-called 'double standard' in criticism based on political leanings. This controversy has extended beyond conservative communities to some progressive online spaces. Some users remarked, "If the opposing camp had made such remarks, they wouldn't have remained silent," and criticized the choice of language as inappropriate, regardless of political stance. Within the political sphere, there are calls for greater caution, given the significant public influence of a host on a current affairs program. Critics argue that criticizing political opponents and using expressions that evoke the violence of military regimes are two separate issues. A political commentator stated, "The more intense the political conflict, the greater the responsibility public figures and influential hosts have regarding their language. Regardless of intent, the expression 'let's push them out with tanks' carries significant symbolism for the public." Meanwhile, Choi's team has yet to release a statement regarding the controversy surrounding his remarks. 2026-06-08 08:36:00

SK Telecom and NVIDIA Forge Full-Stack Alliance for AI Cloud in Asia SK Telecom is partnering with NVIDIA to establish a gigawatt-scale AI infrastructure. Their collaboration will extend beyond semiconductors to encompass full-stack operations in data center management. On June 8, SK Telecom announced plans to pursue full-stack AI cloud collaboration based on NVIDIA's DSX platform. The two companies aim to gradually expand an AI factory specialized for AI tasks to a gigawatt scale. The DSX platform is NVIDIA's comprehensive framework that defines the design, construction, and optimization methods for AI factories, covering everything from chips and systems to infrastructure software, facilities, and partner technologies. This partnership was solidified during a meeting between SK Group Chairman Chey Tae-won and NVIDIA CEO Jensen Huang on June 1 in Taiwan. The AI factory is set to begin operations in Korea in 2027, with plans for SK Telecom to expand it throughout Asia. SK Telecom will join the NVIDIA Cloud Partner (NCP) program to provide AI training and inference services based on NVIDIA's Blackwell GPU, with the Vera Rubin platform expected to be introduced in phases later this year. Key performance indicators will focus on minimizing token costs and maximizing performance per watt. The scope of collaboration will also extend to research and development. SK Group and NVIDIA plan to form a consortium to jointly research next-generation computing architectures that optimize GPU and memory performance from the design stage. This marks a significant expansion of their existing semiconductor collaboration, which has primarily focused on SK Hynix's high-bandwidth memory (HBM). Collaboration in the physical AI sector is also being formalized. SK Telecom is applying NVIDIA's Omniverse-based digital twin technology to SK Hynix's semiconductor manufacturing processes and is enhancing a robot simulation and training platform using NVIDIA's Cosmos and Isaac GR00T platforms. Chey Tae-won stated, "With our close partnership with NVIDIA, we have established full-stack AI infrastructure capabilities that encompass everything from chips to data center operations. By addressing GPU, memory, and energy challenges together, we aim to become a leading AI cloud provider driving the development of the AI ecosystem across Asia." Jensen Huang remarked, "Telecommunication networks are evolving into national AI infrastructures. The network that connects people, businesses, and devices is now the foundation of AI cloud. Through the NVIDIA DSX platform, SK Telecom will build a large-scale AI cloud, providing agent AI, enterprise AI, and physical AI to businesses and industries in Korea and around the world."* This article has been translated by AI. 2026-06-08 08:33:00

President Lee to Hold Press Conference Marking One Year in Office President Lee Jae-myung will hold a press conference at the Blue House at 10 a.m. on June 8 to mark the one-year anniversary of his inauguration.This will be the fourth press conference for President Lee, following his initial press briefing a month after taking office in July, a 100-day briefing in September, and a New Year press conference in January.The theme of the press conference is "Irreplaceable Republic of Korea," reflecting his vision for the second year of his administration, aiming to elevate the country from being a focus of global attention to becoming a nation that the world needs.During the conference, President Lee is expected to share his reflections on the past year, outline his vision for the second year, and present four key goals.More than 160 reporters from domestic and international media are expected to attend, with a format allowing for free questioning directed by the moderator and the president, without a predetermined script.The Q&A session will focus on three main areas: livelihood and economy, politics and diplomacy, and social and cultural issues. Two student journalists from university media will also be invited to ask questions about the concerns of the younger generation.Following the press conference, President Lee will meet with key figures at the Blue House at 3 p.m. to discuss the ballot shortage issue that arose during the June 3 local elections and potential reforms for the Election Commission.Attendees will include National Assembly Speaker Chung Jin-suk, Prime Minister Kim Min-seok, Supreme Court Chief Justice Cho Hee-dae, and Constitutional Court Chief Justice Kim Sang-hwan, excluding the resigned Election Commission Chairman Roh Tae-ock.President Lee aims to share the seriousness of the situation with these key figures and broadly discuss measures to prevent recurrence, institutional improvements, and ways to restore public trust. He has emphasized that ensuring citizens' voting rights and restoring trust in elections are fundamental to democracy and is expected to seek necessary measures.The day before, President Lee expressed on his X (formerly Twitter) account that the Election Commission must take the situation seriously and demonstrate a strong commitment to fundamental reforms and improvements in its operations and overall election management to a level that the public can trust.* This article has been translated by AI. 2026-06-08 08:30:00