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South Korea's Strategic Path Amid Complex Crises Historian Arnold Toynbee explained the rise and fall of civilizations in his work "A Study of History" through the lens of 'challenge and response.' Civilizations thrive when they creatively respond to harsh challenges, but they collapse when they fail to do so. In 2026, South Korea faces a formidable 'complex crisis' characterized by five simultaneous waves: declining trust in the United States, a more assertive China, a resurgent North Korea, Japan's militarization, and shocks to energy and supply chains. The key lies not in the intensity of these challenges but in our ability to respond. An outdated map cannot navigate a new world. The fissures began within the United States, which, despite being the world's largest economy, is experiencing a decline in trust regarding its commitments. A recent Pew Research survey indicated a significant drop in South Koreans' favorable views of the U.S. and confidence in its international leadership. In an Ipsos poll, respondents identified China as having a more positive impact on the international community than the U.S. This shift is a consequence of trade wars, defense cost disputes, and transactional diplomacy that undermines alliances. Additionally, the International Energy Agency has described the oil supply disruptions stemming from the war in Iran as the worst in decades. Both South Korea and Japan, which rely on foreign sources for over 90% of their energy—mostly from the Middle East—find themselves in a precarious position. Conversely, China has rapidly restructured its industrial and technological competitiveness, establishing new strategic influence. It accounts for nearly 30% of global manufacturing output, surpassing the combined totals of the U.S., Japan, and Germany. The Pentagon forecasts that China will possess around 1,000 nuclear warheads by 2030, supported by a navy of over 370 ships. With its dominance in electric vehicles, batteries, and solar production, along with controlling 90% of rare earth refining, China is tightening its grip on Western high-tech industries through export controls on gallium, germanium, and rare earths. This scenario illustrates that 21st-century hegemony hinges not on the number of aircraft carriers but on controlling supply chain chokepoints. The actions of neighboring countries are also noteworthy. The war in Ukraine has presented North Korea with unprecedented opportunities. Following an expansion of military cooperation with Russia, North Korea's economy is estimated to be experiencing its highest growth in recent years. It is absorbing energy, foreign currency, satellite and missile technology, and combat experience. The New York Times remarked that Kim Jong Un has moved from 'hell to heaven.' With inter-Korean dialogue severed and both sides entrenched as 'hostile nations,' time is not on our side. Japan has been the first country in Asia to initiate supply chain restructuring and security transitions. Since the 2010 Senkaku incident, it has reduced its dependence on Chinese rare earth permanent magnets to 31%. In 2026, Japan's defense budget surpassed 9 trillion yen for the first time. Amendments to Article 9 of its pacifist constitution are underway, and Self-Defense Force officers have been dispatched to NATO. However, as the Financial Times pointed out, Japan is a country that cannot say 'no' to Trump. Bound to a one-sided relationship with the U.S., Japan is paying more while becoming increasingly constrained, with only 20% of Japanese expressing trust in the U.S. Prime Minister Takaichi's comments about a 'crisis of existence similar to Taiwan' have provoked economic retaliation from China. This one-sided foreign policy has led Japan to a dead end. South Korea faces similar geopolitical pressures as Japan but is even more vulnerable in terms of supply chains. Of the 31 critical rare metals, China is the largest supplier of 16. While Japan has reduced its reliance, South Korea's dependence on Chinese rare earth permanent magnets has surged to 88%, with 98% of gallium, 97% of graphite, and 84% of magnesium sourced from China. The 2021 urea water crisis serves as a reminder; when China halted urea exports, trucks across the nation nearly came to a standstill. This was a preview of how supply chain wars can suffocate industries without missiles being fired. Nevertheless, South Korea possesses strengths that Japan lacks. First, it has the semiconductor and shipbuilding industries that the U.S. desperately needs. As demonstrated by Hanwha Ocean's acquisition of a shipyard in Philadelphia and contracts for U.S. Navy vessel maintenance, leveraging this industrial leverage can yield tangible results, such as approval for nuclear-powered submarines or negotiations on nuclear cycles. Second, the APEC summit in Gyeongju facilitated Chinese President Xi Jinping's first visit to South Korea in 11 years, restoring high-level diplomatic relations with China. Third, as a key party in the Korean Peninsula issue, South Korea is well-positioned to lead a coalition of middle powers in Asia without the burden of historical grievances. Victor Cha, a Korea chair at the Center for Strategic and International Studies, advises abandoning 'strategic ambiguity' and standing with the U.S. and Japan against China. His warning to recognize the reality that South Korean companies were expelled from China during the THAAD retaliation is worth heeding. However, this prescription is only partially correct. Recognizing threats clearly is different from aligning with a specific camp. Dependence ultimately leads to entrapment. The binary choice of 'alliance or autonomy' is an outdated framework that has led Japan to a dead end. The model of pragmatic diplomacy can be traced back to former President Kim Dae-jung. He anchored the South Korea-U.S. alliance in national interests but did not bind himself to it. With strong diplomacy toward the U.S., he opened the door to dialogue with Pyongyang, balanced historical issues with future cooperation through the Kim Dae-jung-Obuchi Declaration, and expanded diplomatic horizons through engagement with the four major powers. The principles of 'intellectual problem awareness and pragmatic realism' serve as a textbook for creative responses. This approach aligns with the current government's pragmatic diplomacy, which encompasses both security and economic interests. During the Cold War, the key question was which side to choose. However, in this era of complex crises, the priority is to secure strategic space to maximize national interests rather than merely choosing sides. Alliances should be strengthened, but options must be broadened, and while pursuing values, the realities of economic security cannot be ignored. Just as the Kim Dae-jung administration navigated dual crises of the financial crisis and the Cold War structure on the Korean Peninsula to cultivate both national interests and peace, today's South Korea is called to develop a new national strategy that combines principles and pragmatism. Prioritizing national interests does not mean balancing between major powers but rather engaging in proactive diplomacy that compels major powers to recognize South Korea's importance. The future of South Korea lies not in choosing between the U.S. and China but in becoming an indispensable nation that both sides wish to cooperate with, leveraging its strengths in semiconductors, shipbuilding, batteries, AI, and cultural industries. This is the broader path South Korea must take in an era of complex crises. Author's Key Background △ Chairman of the Korea Inter-Parliamentary Exchange Center (Washington D.C.) △ Former National Assembly Member (two terms, Gyeonggi Namyangju-eul, Democratic Party) △ Visiting Researcher at Cornell University's East Asia Program (New York, U.S.A., 2006 – 2007) △ Former Chief of Staff to President Kim Dae-jung* This article has been translated by AI. 2026-06-12 07:54:00
SpaceX blasts off in $1.8 trillion IPO, likely extend global capital drain through June SEOUL, June 12 (AJP) -Elon Musk's SpaceX blasted off in the world's largest and most spectacular market debut, vacuuming up tens of billions of dollars from investors worldwide and underscoring why Seoul and other Asian markets had been rattled throughout the IPO week. SpaceX on Thursday sold all 555,555,555 shares offered in its initial public offering at $135 apiece, raising $75 billion and valuing the rocket and satellite company at about $1.77 trillion. They go straight to Nasdaq on Friday. The deal shattered the previous IPO fundraising record set by Saudi Aramco in 2019 and instantly became one of the most closely watched listings in modern market history. The scale of demand was equally extraordinary. According to media reports, retail investors alone submitted more than $70 billion worth of orders, while global asset managers, sovereign wealth funds and family offices piled into the deal. BlackRock reportedly sought at least $5 billion worth of shares, with several other institutional investors placing similarly outsized orders. The frenzy offered a glimpse into the powerful gravitational pull of a handful of mega-cap technology names that increasingly dominate global capital flows. Foreigners took out nearly 30 trillion won ($20 billion) from KOSPI in Seoul in the first 10 days of June on top of around 52 trillion won worth in May, battering the Korean won to lose 2 percent this month and over 6 percent since the beginning of the year against the U.S. dollar. For Korean individuals, the blockbuster IPO was largely out of reach. The IPO allocation itself was effectively unavailable to most Korean retail investors, leaving exchange-traded funds listed in Korea or overseas as the primary avenue for exposure before the stock's debut. Direct purchases become possible only after SpaceX begins trading under the ticker SPCX on Friday, though available float remains limited given Musk's estimated ownership of roughly 85 percent of the company. Market participants said anticipation surrounding the listing had already contributed to capital being redirected away from Asian equities, including South Korea, as investors sought liquidity for potential participation in the landmark debut. Investor deposits, a gauge of cash waiting on the sidelines of the stock market, fell to 127.6 trillion won as of Wednesday, down 2.5 trillion won from the previous session and the lowest level this month to suggest some may have gone to the Space X-devoted ETFs. The timing coincided with unusual pressure on the Korean won and heightened volatility across domestic financial markets, prompting speculation that authorities were closely monitoring foreign exchange demand linked to overseas equity investment. Still, the enthusiasm is expected to extend beyond the IPO. Given its enormous valuation and expected trading volume, analysts believe the company could qualify for inclusion in the Nasdaq-100 as early as July, potentially triggering another wave of passive fund inflows and further cementing its status as one of the market's most influential stocks. 2026-06-12 07:49:33
Trump Nominates Jay Clayton as New Director of National Intelligence Donald Trump, the President of the United States, has nominated Jay Clayton, the U.S. Attorney for the Southern District of New York, as the new Director of National Intelligence (DNI). Clayton's background in financial regulation and law is expected to raise questions about his qualifications during the Senate confirmation process. On June 11, Trump announced Clayton's nomination via social media platform Truth Social, describing him as a "highly respected individual" and urging the Senate to confirm him quickly. The DNI oversees 18 U.S. intelligence agencies, including the Central Intelligence Agency (CIA), the National Security Agency (NSA), and the Federal Bureau of Investigation (FBI). The director provides intelligence-related advice to the President and the National Security Council and is involved in prioritizing and coordinating budgets among intelligence agencies. Clayton served as the chairman of the U.S. Securities and Exchange Commission (SEC) from 2017 to 2020 during Trump's first term. He returned to a prominent government role when Trump nominated him as U.S. Attorney for the Southern District of New York following his victory in the 2024 presidential election. The Southern District of New York is a key organization within the U.S. Department of Justice, handling financial crimes and corruption cases, earning Clayton the nickname "the Grim Reaper of Wall Street." While he has extensive experience in financial regulation and corporate law through his tenure at the SEC and major law firms, his background in intelligence operations or national security is less clear. This nomination follows the resignation of current DNI Director Avril Haines. Trump plans to appoint William Palty, the Federal Housing Finance Agency director, as acting DNI until Clayton's confirmation. If confirmed, Clayton would be the first individual from the finance and legal sectors to oversee the entire U.S. intelligence community. His experience in intelligence and national security, as well as the ability to maintain the political independence of intelligence agencies, are expected to be significant topics during the Senate hearings.* This article has been translated by AI. 2026-06-12 07:42:00
Trump Administration to Maintain 10% Global Tariff Amid Legal Appeals The Trump administration's 10% global tariff, introduced to fill a gap in reciprocal tariffs, is likely to remain in effect until its scheduled expiration in late July. On June 11, the U.S. Court of Appeals for the Federal Circuit ruled that the Trump administration could continue collecting the 10% global tariff while the appeal is pending. This decision temporarily halts a previous ruling by the U.S. Court of International Trade that deemed the tariff unlawful. The ruling allows the continued collection of tariffs from two importing companies and the state of Washington, which had previously won in the lower court. The lower court had determined on May 7 that the 10% global tariff exceeded legal authority, but it did not apply a ban on tariff collection to all importers. The appeals court noted that the Trump administration's appeal could be accepted in the main case and that halting the tariff collection could cause irreparable harm to the federal government. The appeals court had previously suspended the lower court's ruling on May 12. The contentious 10% global tariff was imposed by President Trump in February under Section 122 of the Trade Act, which allows the president to impose additional tariffs of up to 15% for a maximum of 150 days without congressional approval in cases of significant balance of payments issues. During this period, the Trump administration is seeking to establish a more permanent basis for tariffs under Section 301 of the Trade Act. On June 2, the Office of the United States Trade Representative (USTR) announced the results of a Section 301 investigation targeting 60 economic zones, citing insufficient measures to ban imports of goods produced with forced labor. The USTR proposed a 10% additional tariff for economic zones that have established or committed to a ban on forced labor goods, while suggesting a 12.5% tariff for others. South Korea falls under the 12.5% tariff category. However, this proposal is not final and is currently in a comment period, with the USTR set to accept written comments until July 6 and hold a public hearing on July 7.* This article has been translated by AI. 2026-06-12 07:36:00
Former Lawmaker Min Byung-du Launches New Theater Company Unexpected second acts can emerge in life. Many believe that once individuals reach the pinnacle of social success, they enter a phase of winding down. However, some choose to view this juncture as a new starting line. Instead of merely wearing their past achievements like medals, they embark on new dreams. This was evident in the recent founding of the Gold Grass Theater by former lawmaker Min Byung-du, who staged the inaugural play "Unruly Youth." This theater's establishment is not just a cultural endeavor; it symbolizes how an individual can design and pursue their second life. When discussing Min Byung-du, many first think of him as a politician. However, his life is far more complex and multifaceted than that single label. He was an activist during his student years, participated in the democracy movement, became a journalist chronicling the times, and later served as a member of the National Assembly. Now, he is opening a new chapter in the world of culture and arts. While these paths may seem distinct, a consistent thread of concern for people, society, and community runs through them. His youth coincided with a tumultuous period in modern Korean history, marked by a vigorous student movement demanding democracy during military rule. In an era where simply speaking freely could be dangerous, young advocates for democracy and human rights often faced imprisonment or had to risk their futures for resistance. Min Byung-du was part of this generation. Today, democracy is taken for granted, but for those young people at the time, it was not just a concept in textbooks; it was a matter of life and belief. This experience became a foundational aspect of his life. He later chose the path of journalism, serving as a reporter and political editor for the Cultural Daily and as a Washington correspondent, closely covering Korean politics and international affairs. A journalist is not merely a conveyor of facts; they interpret events, analyze the words and actions of politicians, and assess the direction of the nation and society. Through this process, he naturally developed strategic thinking, which would later contribute to his reputation as a policy expert and strategist in politics. After entering politics, he served multiple terms in the National Assembly, distinguishing himself in policy and strategy. He focused particularly on issues directly affecting everyday life, such as economic democratization, consumer finance, household debt, and consumer protection. Through his work on the National Assembly's Political Affairs Committee, he emphasized the health of financial markets and consumer rights while consistently showing interest in the changes brought by the digital economy and platform industries. Within political circles, he was often regarded as a strategist, known for his ability to read electoral trends and for his long-term vision in policy design. However, his true strength lay in his focus on people's lives rather than on power itself. His philosophy that politics should serve people did not change after he left the National Assembly; rather, it expanded into broader realms. Unlike many politicians who limit themselves to lectures or advisory roles after leaving office, he boldly ventured into new fields. One notable example is his work as a senior model. When this news first emerged, many were surprised. However, Min Byung-du was not overly concerned with others' opinions. He believes that giving up on challenges due to age is the true definition of aging. Stepping onto the senior modeling stage is not merely about wearing clothes and walking; it is another form of cultural expression. Through this platform, he demonstrated that new dreams can be pursued at any age. He actively participated in various senior fashion events and cultural programs, embodying a new life in old age. In a rapidly aging South Korea, he has presented a model for how seniors can live. His senior modeling activities are not just a personal hobby but carry a social message: life does not end with retirement, and new challenges are ageless. His interest in theater naturally followed. He had already engaged in various cultural and artistic activities, experiencing the power of the stage and audience. He understood better than anyone that while politics changes systems, art moves people's hearts. If speeches and debates appeal to reason, theater appeals to emotion and memory. This deep attraction to the theatrical form likely influenced his decision to establish a theater company. He has gained stage experience through participation in various performances and cultural events, culminating in the founding of his theater company. The first production of the newly established Gold Grass Theater, "Unruly Youth," holds special significance. It addresses painful modern history, specifically the forced conscription during military rule. This work does not merely reenact past events; it explores themes of youth, state power, memory, trauma, and human dignity. For Min Byung-du, a member of the democracy movement generation, this subject is deeply personal. As someone who lived through that era and fought for democracy, he aims to restore those memories through the language of art. The history recorded by politics differs from that remembered by art. He is now engaging with the times not as a politician but as a theater artist. His faith also plays a crucial role in this journey. Min Byung-du has long been a devout Catholic. The Catholic emphasis on human dignity and community spirit permeates his life. The democracy movement was about human dignity, journalism was about truth, and political activity was for the community. His current cultural and artistic endeavors ultimately focus on people. Although his professions have changed multiple times, the direction of his life has remained largely consistent. He continues to tell stories about people, meet people, and act for people. Today, South Korea is entering an ultra-aged society. However, we still lack imagination regarding the lives of the elderly. While we discuss how to prepare for retirement, we do not adequately address how to dream and challenge ourselves afterward. In this context, Min Byung-du's life holds significant meaning. He is not just a successful politician; he is someone who has redefined the second half of life. His journey from democracy activist to journalist, from journalist to politician, from politician to senior model, and now to theater artist is a history of continuous change and challenge. We often evaluate success based on high positions and great power. However, true success in life may lie in not losing sight of new dreams. Min Byung-du may have stepped down from his role as a lawmaker, but he has not stopped living. He has left the political stage but has not given up on challenges. Instead, he has created his own second stage, where he is embarking on new challenges with the vigor of youth. The founding of the Gold Grass Theater is not merely a cultural news item; it is a declaration of a beautiful second act for an individual. It is not just a cliché that age is just a number; it is a testament to life demonstrated through action. A young man who dreamed of democracy became a journalist, a journalist became a politician, and a politician has now become an artist, engaging with people. No one knows where this journey will end. However, what is clear is that he continues to grow. Thus, Min Byung-du's new challenge deserves applause. It is not just an individual achievement but a case that illustrates the direction our society should take moving forward. He proves through his life that life belongs to those who learn, challenge, and dream until the very end.* This article has been translated by AI. 2026-06-12 07:30:00
Mexico Defeats South Africa 2-0 in World Cup Opener Mexico, co-host of the 2026 North American World Cup and South Korea's opponent in the second match, secured a 2-0 victory over South Africa in the tournament's opening game. Ranked 14th by FIFA, Mexico defeated 60th-ranked South Africa on June 12 at the Estadio Azteca in Mexico City during the group stage match of Group A. Julian Quinones opened the scoring for Mexico just nine minutes into the match, marking the first goal of the tournament. Quinones, a former member of Colombia's U-20 national team, became a naturalized citizen in 2023 and was the top scorer in the Saudi Arabian league for the 2025-26 season while playing for Al-Qadisiyah. As Mexico sought to maintain a stable flow of play, South Africa attempted to respond with set pieces, particularly around the hydration break introduced for the World Cup. Despite their efforts, South Africa managed to hold their ground relatively well in the first half. However, the match shifted dramatically in Mexico's favor just four minutes into the second half due to a red card issued to South Africa. As Gutierrez attempted to dribble into the penalty area, he was brought down by South African midfielder Sphephelo Sithole near the penalty arc. The referee promptly issued a red card, leaving South Africa at a numerical disadvantage. In response to being one player down, South Africa substituted goalkeeper Foster for midfielder Talente Mbatha to bolster their defense against further goals. Mexico also made substitutions, bringing on 2008-born midfielder Hilberto Mora for Pidal in the 66th minute. At 17 years and 240 days old, Mora set a record as the youngest Mexican player to appear in a World Cup. With the numerical advantage, Mexico solidified their lead with a second goal from Jimenez in the 67th minute. South Africa's attempts to retaliate were thwarted when midfielder Temba Zwane, who came on as a substitute, received a red card for a reckless foul on Alvarado in the 84th minute. Although Mexico had secured a decisive victory, they faced a setback when Montes was sent off in stoppage time for a foul on South Africa's Kuliso Mudau, ruling him out for the upcoming match against South Korea. Meanwhile, South Korea's national soccer team, managed by Hong Myung-bo, is set to play their first group stage match against the Czech Republic at the Estadio Guadalajara in Sapopan at 11 a.m. on the same day. 2026-06-12 07:15:00
BlackRock Bets $8 Billion as SpaceX Sets Record IPO Elon Musk's aerospace company, SpaceX, has finalized its initial public offering (IPO) price, marking the largest IPO in history. The offering has attracted significant interest from institutional and retail investors, ensuring its success even before trading begins. On June 11, SpaceX announced that it sold 555,555,555 shares at $135 each, raising a total of $75 billion. This valuation places the company at approximately $1.77 trillion. This IPO surpasses the previous record set by Saudi Aramco in 2019, which raised $29.4 billion. According to the Wall Street Journal, BlackRock has placed an order for at least $5 billion worth of SpaceX shares, with other major asset managers reportedly submitting similar orders. Retail investor demand has also exceeded $70 billion, with total investor interest surpassing $250 billion. Musk has expressed a desire to allocate about 30% of the IPO shares to retail investors, as reported by the Journal. SpaceX's approach to the IPO differs from Wall Street norms. Instead of providing a price range based on demand, the company set a single price of $135 per share. Trading for SpaceX shares is set to begin on June 12 on NASDAQ under the ticker symbol 'SPCX.' The company plans to use the funds raised to expand its Starlink satellite network, develop next-generation rockets, and build an AI-related space data center. However, challenges remain despite the strong demand. SpaceX is still operating at a loss, and its valuation reflects significant growth potential in its nascent AI business. Concerns have been raised about Musk's continued control over the company through dual-class shares, prompting scrutiny over its corporate governance.* This article has been translated by AI. 2026-06-12 06:57:00
BlackRock Bets $5 Billion on SpaceX Ahead of Record IPO Elon Musk's aerospace company, SpaceX, has attracted significant orders from institutional and individual investors ahead of its record initial public offering (IPO). The Wall Street Journal reported on June 11, citing sources, that BlackRock, the world's largest asset manager, has placed an order for at least $5 billion worth of SpaceX shares. Other major asset management firms are also said to have submitted similar-sized orders. SpaceX announced that it has sold all 555,555,555 shares targeted for the IPO at a price of $135 per share. This move is expected to raise a total of $75 billion, giving the company an estimated valuation of approximately $1.77 trillion, surpassing Saudi Aramco to become the largest IPO in history. Demand from individual investors has also been robust. The Journal noted that individual investors have requested more than $70 billion worth of SpaceX shares. The company has received orders from sovereign wealth funds and family offices, with one family office reportedly placing an order exceeding $1 billion. CEO Musk has indicated a desire to allocate a higher proportion of shares to individual investors than is typical for IPOs. The Journal reported that Musk hopes to allocate about 30% of the offering shares to individual investors. This IPO process differs from traditional methods. Instead of presenting a price range and adjusting based on demand, SpaceX set a single price of $135 per share. However, despite the excitement, there are concerns. SpaceX remains an unprofitable company, and a significant portion of its $1.77 trillion valuation relies on the growth potential of its early-stage artificial intelligence (AI) business. Critics have raised concerns about corporate governance, as Musk is expected to maintain a high level of control even after the IPO.* This article has been translated by AI. 2026-06-12 06:51:00
SpaceX IPO Attracts $70 Billion in Orders from Individual Investors Elon Musk's aerospace company, SpaceX, has generated significant demand from individual investors ahead of its record-setting initial public offering (IPO). According to a report by Reuters on June 11, citing Bloomberg, individual investor orders for the SpaceX IPO have surpassed $70 billion (approximately 107 trillion won). Overall investor demand is reported to exceed $250 billion (about 383 trillion won). In this IPO, SpaceX plans to sell 555.6 million Class A common shares at $135 each, aiming to raise $75 billion (around 115 trillion won). Based on the offering price, the company's valuation is estimated at approximately $1.77 trillion (about 2,708 trillion won), making it the largest IPO ever, surpassing that of Saudi Aramco. SpaceX intends to allocate about 30% of the offering shares to individual investors, a notably high percentage compared to the typical 5-10% allocation in large IPOs. This surge in interest is also attributed to Musk's efforts to expand his retail investor base through Tesla. Institutional investors have also shown strong interest. Bloomberg previously reported that the Saudi Public Investment Fund (PIF) and the Kuwait Investment Authority placed orders ranging from $1 billion to $5 billion (approximately 2 trillion to 8 trillion won). The Qatar Investment Authority is also said to be considering a substantial investment. International allocations will be limited. SpaceX plans to allocate less than 10% of the IPO shares to overseas orders, with the allocation for Japan reportedly increasing from an initial $2 billion (about 3 trillion won) to $2.5 billion (approximately 4 trillion won).* This article has been translated by AI. 2026-06-12 06:45:00
Iran's Foreign Ministry Denies Final Agreement on U.S. Peace Talks Iran's Foreign Ministry stated that it has not yet made a final decision regarding peace negotiations with the United States. This cautious stance follows comments from President Donald Trump, who suggested that a signing ceremony could take place in Europe this weekend. According to Reuters, Esmaeil Baghaei, the spokesperson for Iran's Foreign Ministry, told the state-run IRNA news agency on June 11 that no final agreement has been reached concerning negotiations with the U.S. He described reports about the timing and location of a potential signing as mere "speculation." Baghaei noted that while much of the negotiation text has been organized, the U.S. has repeatedly changed its position throughout the talks. He emphasized that Iran will not compromise on its red lines, which include non-negotiable core demands. Earlier, President Trump announced during an event in the White House that the agreement with Iran is in the final stages of document coordination. He indicated that the agreement could be concluded within days and that a signing ceremony might occur in Europe this weekend. Trump explained that the key points of the agreement include the immediate opening of the Strait of Hormuz upon signing and Iran's commitment not to possess nuclear weapons.* This article has been translated by AI. 2026-06-12 06:36:00