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President Lee Expects Norway to Row Again in World Cup 이재명 대통령은 8일(현지시간) 요나스 가르 스퇴레 노르웨이 총리와 정상회담을 하고 국방 분야에 대한 협력 방안을 논의했다. 나토(NATO·북대서양조약기구) 정상회의 참석차 튀르키예를 방문 중인 이 대통령은 이날 앙카라 시내의 한 호텔에서 스퇴레 총리와 만나 "대한민국은 노르웨이가 대한민국과 외교 관계를 맺기도 전에 6.25 당시 의료지원을 해 준 점에 대해 잊지 않고 기억하면서 감사하게 생각한다"고 말했다. 이 대통령은 "지금 현재 국제 정세가 매우 불안정한 상태여서 국가 단위에서 이 위기를 극복하기에는 제한적일 수밖에 없는 이럴 때일수록 국가간 협력과 교류가 중요하다고 생각한다"며 "양국은 경제, 산업, 문화 또는 국방 영역에서 큰 도움 받는 깊은 관계로 발전하고 있다"고 강조했다. 이 대통령은 회담에 앞서 2026 국제축구연맹(FIFA) 북중미 월드컵을 화두로 꺼냈다. 이 대통령은 "(노르웨이가) 월드컵 8강에도 가시고, 잠수함 선정도 되시고"라며 운을 뗐다. 스퇴레 총리는 "다방면 성과인데 국가 차원에서 성과를 내고 기쁘고, 1998년 이후에 높은 월드컵 성적을 낸 것은 처음인데 브라질에 승리한 것 또한 매우 기쁘다"며 "토요일에 영국과 경기가 있는데 어떻게 될지 지켜봐야 하는데 잘 될 것이라고 생각한다. 좋은 선수들이 많지만, 팀으로 잘 선전하고 있다"고 화답했다. 이에 이 대통령은 노르웨이의 노를 젓는 응원을 따라하며 "16강전을 하고 나서 노르웨이 홍보 영상을 봤는데 아주 좋았다"며 "한 번 더 (노를) 젓길 기대한다"고 말했다. 스퇴레 총리는 "작년 G20(주요 20개국) 계기 뵙고 다시 만나게 됐다"며 "국방 분야에 있어서 중요한 결정이 있었고 전략 파트너십으로 발전해 나가는데 좋은 결정이었다고 생각한다"고 강조했다. * This article has been translated by AI. 2026-07-08 16:28:00 -
Naver Pay Launches Venture Capital Platform, Challenging KOSDAQ and KONEX A strong alternative has emerged for the KONEX market, which has served as a stepping stone for venture companies to go public. The Naver Pay (Npay) startup venture capital investment platform, jointly developed by the Financial Supervisory Service (FSS) and Naver Pay, officially launched on July 7, signaling a potential paradigm shift in the funding landscape for the over-the-counter venture investment market.According to financial investment industry sources on July 8, the FSS and Naver Pay held a launch ceremony for the Npay startup at Naver1784, attended by officials from the finance and venture sectors, and began pilot operations. This platform is a public-private collaboration project supported by the FSS to build an infrastructure for sharing venture investment information, with Naver Pay responsible for its development and operation.Market participants view this platform as a formidable competitor that could effectively complement or replace the functions of the KONEX market.Traditionally, the capital market structure required early-stage venture companies to first list on KONEX to secure funding and enhance visibility before moving on to KOSDAQ. However, with the Npay startup, companies can now attract continuous investment from institutional investors such as securities firms and venture capitalists in the over-the-counter market, reducing the necessity to undergo the KONEX listing process.As the over-the-counter market becomes more active, the demand for listings in the regular market is likely to be diluted, presenting a potential competitive challenge for KONEX.Conversely, some analysts suggest that this development could actually benefit the KOSDAQ market. In the past, the venture investment market has struggled with the lack of active secondary funds, leading companies to pursue KOSDAQ listings prematurely, often before they had fully developed. This has been criticized for causing a decline in the overall quality of the KOSDAQ market and distorting valuations.An investment banking industry source stated, "The platform provides an opportunity for startups to mature further by receiving continuous investment in the over-the-counter market. If startups can strengthen their foundations and transition to KOSDAQ in a more refined state, the health of the KOSDAQ market will actually be enhanced." This reflects the divergent interests and calculations between KONEX and KOSDAQ regarding the platform's launch.However, the platform will operate strictly as an institution-focused league. According to the FSS, only institutional investors with their own investment review capabilities, such as securities firms and venture capitalists, will have access to the platform, excluding individual investors.In response to the rapid rise of the over-the-counter platform, the Korea Exchange emphasized its distinctiveness as a regular market. A representative from the Korea Exchange stated, "KONEX provides comprehensive incubating programs, including internal control improvements, prior listing, and accounting consulting, for companies ultimately aiming for KOSDAQ listing. If a company’s final goal is to enter KOSDAQ, it will choose the KONEX platform based on its desired approach."* This article has been translated by AI. 2026-07-08 16:28:00
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Lebanon's President to Meet Trump on July 21 to Discuss Regional Security and Hezbollah Lebanese President Joseph Aoun is set to visit the United States on July 21 for a meeting with President Donald Trump.According to a White House official, Aoun will be visiting at the invitation of the White House. The Lebanese embassy in Washington also confirmed Aoun's travel plans. In a statement, the embassy noted, "This invitation reflects the ongoing partnership between Lebanon and the United States," adding that the two leaders will discuss mutual interests, including bilateral relations, regional security, and the U.S. support for Lebanon's sovereignty, stability, territorial integrity, and institutions.The talks between the U.S. and Lebanon are expected to focus on issues such as the conflict between Israel and Hezbollah, the situation in southern Lebanon, and U.S. assistance to Lebanon.Hezbollah, which operates from southern Lebanon, has been a key variable in the ongoing war and ceasefire negotiations between Israel and Iran. Iran has asserted that Israel should not attack Hezbollah's military assets or targets within Lebanon, while the U.S. acknowledges Israel's right to self-defense but continues diplomatic efforts to prevent escalation in Lebanon.Last month, the U.S. and Iran signed a memorandum of understanding (MOU) that included a commitment to cease hostilities on all fronts, including Lebanon. However, Israel has maintained that it is not a direct party to this agreement and continues military pressure on southern Lebanon under the pretext of countering the Hezbollah threat.Meanwhile, Israeli Foreign Minister Gideon Sa'ar announced that the next talks with Lebanon are scheduled to take place in Rome, Italy. The two sides plan to continue discussions based on a preliminary agreement reached with U.S. support.* This article has been translated by AI. 2026-07-08 16:24:00
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Firefighters undergo training to respond to summer emergencies SEOUL, July 8 (AJP) - Firefighters underwent intensive water survival training at a facility in Yongin, Gyeonggi Province, on Wednesday to enhance their rescue capabilities as more people head to beaches during the hot summer months. They practiced escaping from a submerged helicopter simulator by unbuckling their safety belts and exiting the cabin safely. The training was intended to help firefighters respond effectively in case of an emergency water landing. 2026-07-08 16:15:36 -
Musinsa establishes Taiwan unit to expand direct presence overseas SEOUL, July 08 (AJP) - Musinsa has established a Taiwan subsidiary to spearhead its expansion in the local market, marking the company's latest overseas growth initiative, the company said Tuesday. The Taiwan unit was established on July 7 and will oversee the company's local operations and market expansion efforts. Musinsa said it plans to build a dedicated local team and expand its offline presence with a focus on its private-label casual apparel brand, Musinsa Standard. The company aims to open around 15 Musinsa Standard stores in Taiwan over the next five years as part of its expansion strategy. Musinsa cited growing consumer demand for Korean fashion in Taiwan. According to the company, sales from Taiwan through its global online store more than doubled on average each year between 2023 and 2025. Taiwanese visitors also ranked among the three largest groups of overseas shoppers at Musinsa Store and Musinsa Standard locations in South Korea last year. The move marks Musinsa's latest overseas expansion following the establishment of operations in Japan and China. The company operates fashion platforms including Musinsa, 29CM, Musinsa Empty and Soldout, while also managing its Musinsa Standard apparel brand. 2026-07-08 16:08:32 -
BTS-themed exhibition showcases Korean heritage at British Museum SEOUL, July 8 (AJP) - An exhibition featuring K-pop supergroup BTS and their fifth studio album "ARIRANG" opened in London this week in collaboration with The British Museum, their management agency HYBE said on Wednesday. The exhibition, which runs from Monday through July 23 at the museum's Korea Foundation Gallery, also offers a self-guided trail that takes roughly 20 minutes to complete. It is part of "BTS THE CITY ARIRANG-LONDON," a citywide program related to the group's two "ARIRANG" tour concerts at Tottenham Hotspur Stadium on July 6 and 7. The album's link to the museum's holdings starts with something many listeners might miss: track No. 29, which consists of the sound of the Bell of King Seongdeok being struck, followed by more than a minute of silence. The bell, a National Treasure and the largest surviving bell of its kind in Korea, is not part of the museum's collection, but the gallery holds other objects from the Silla Kingdom, the era in which it was cast. Two of those objects, a gold earring and roof tiles, anchor the Silla side of the trail. The earring, dated to the fifth century, was made using filigree and granulation techniques that show the sophistication of Korean goldsmithing at the time. The roof tiles once topped palaces, government offices and Buddhist temples in the Silla capital. None of those buildings survive intact, but the tiles, decorated with lotus flowers and grapevine patterns, remain as traces of the kingdom's architecture and visual culture. The route also includes a full-scale reconstruction of a sarangbang or scholar's study, from the Joseon dynasty. Built by Korean craftsmen in 2000, it represents the reception room of a 19th-century noble household. A white porcelain moon jar from the same period is another stop on the trail. The jar was assembled from two separately thrown halves, a form the museum describes as one of Korea's best-known ceramic traditions and a continuing source of inspiration for artists. Sang-ah Kim, a curator of the museum's Korea exhibition, selected the five objects for the trail, which was developed alongside the exhibition's survey of 2,000 years of creativity on the Korean Peninsula. Visitors can scan a QR code at the gallery entrance to follow the route. They are also invited to choose one object that resonates with their own life under the prompt "What is Your Arirang?" and share it on social media. 2026-07-08 16:00:18 -
K-Pop Debut Costs Reach $100 Million, Small Agencies Call for Tax Relief "While K-Pop has become a global industry, small and mid-sized agencies that support the backbone of this ecosystem are struggling to survive," said Choi Hwi-young, Minister of Culture, Sports and Tourism, during a meeting on July 8 at the National Museum of Modern and Contemporary Art in Seoul. The meeting focused on strengthening the music industry ecosystem, where representatives from small and mid-sized agencies unanimously called for government support in production costs and expanded tax benefits.Participants noted that although the K-Pop industry has grown, rising production costs and a concentration of resources among large agencies have exacerbated polarization within the sector. Jo Young-cheol, CEO of Mystic Story, stated, "Small agencies that should support the industry's backbone are facing severe difficulties. The average operating profit of 500 agencies has decreased to one-third over the past three years, and most are experiencing management challenges, except for a few major companies."Jo identified the urgent need for tax credits on album production costs. He explained, "If we implement a tax credit of 10-15% on album production costs, similar to other content industries like film and webtoons, it could create a virtuous cycle where that money is reinvested into production. Research from the Korea Creative Content Agency shows that while the tax revenue reduction from the music industry is relatively small, the employment generation effect is significant, making tax support essential."Minister Choi agreed, acknowledging the growing disparity in production costs among agencies, which can differ by nearly 30 times. He emphasized, "For the remarkable achievements of the popular music industry to continue, the backbone of the industry must be strengthened," and promised to work on tax credits for music production costs, new loan support, and expanded assistance for indie music.Concerns were also raised about the limitations of the current system, which excludes mid-sized agencies from support. Kim Yoo-sik, CEO of FNC Entertainment, pointed out, "The top four agencies generate profits in the trillions, while other companies struggle to reach around 100 billion won in revenue. Many are operating at a loss. Currently, only small businesses can receive production cost support, but we are excluded due to our revenue size. However, the gap with large agencies remains significant."He added, "About 15 K-Pop groups have made it to the Billboard 200 Top 5, but only two are not from the top four agencies. This creates a cycle where trainees and investment funds are concentrated in large companies, while others fall into a vicious cycle."Kim also argued that support criteria should be adjusted to reflect reality. He suggested, "Instead of providing 300 million won per project, a more effective approach would be to support multiple albums for a single team over the long term."Kim Jin-woo, CEO of RBW, assessed that the K-Pop industry has effectively turned into a 'capital competition.' He noted, "In the past, it was possible to nurture a new artist with around 2 billion won, but now it takes nearly 10 billion won over three years to develop an artist and generate revenue. Previously, there was room to try again after a failure, but now everything must be risked at once." He expressed concern that large agencies invest up to 10 billion won in a single album, leading to a structure where only artists from large corporations survive.The indie music sector called for expanded support for creative diversity. They argued for more granular support to enable various creators to challenge themselves in different ways and proposed the establishment of new financial support, such as dedicated investment funds for small labels, to help them secure funding outside of advance payments from distributors. Additionally, they highlighted the need for changes to local ordinances to adjust high venue fees, which can reach 10% for large regional concert halls, compared to those in Seoul. 2026-07-08 15:56:00
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Trump Reignites Greenland Controversy Ahead of NATO Summit U.S. President Donald Trump has reignited the controversy over Greenland, asserting the need for the U.S. to control the territory ahead of the NATO summit, prompting a strong backlash from Denmark.According to the Associated Press, Danish Prime Minister Mette Frederiksen stated on July 8 in Ankara, Turkey, before the NATO summit, "Greenland is certainly not for sale." He emphasized the importance of respecting the self-determination of Greenland's residents and Denmark's territorial integrity and sovereignty.On the eve of the summit, Trump reiterated his previous claim that "the U.S. should control Greenland," which is an autonomous territory of Denmark. The AP noted that Trump's comments have stirred controversy given NATO's commitment to mutual defense among member states.The official agenda of the summit focuses on the implementation of increased defense spending by member countries. Trump has long argued that the U.S. bears an excessive burden for NATO defense. Last year, NATO members agreed to allocate 5% of their gross domestic product (GDP) to security-related expenditures.NATO Secretary-General Jens Stoltenberg called for member states to present "clear, specific, and credible plans" to meet defense spending goals. According to data released by NATO the previous day, Slovenia, Belgium, Spain, and the Czech Republic have not yet met the existing target of 2% of GDP for defense spending.In addition to defense spending discussions, tensions surrounding Iran are also escalating at the summit. Stoltenberg described the U.S. airstrikes against Iran as "absolutely necessary," stating, "Iran attacked commercial vessels in the Strait of Hormuz while a ceasefire was in place," and emphasized the importance of a strong U.S. response.The U.S. conducted airstrikes against targets in Iran in retaliation for attacks on three commercial vessels in the Strait of Hormuz. The U.S. also revoked licenses that allowed the sale of Iranian oil. The AP reported that this action highlights the fragility of the temporary agreement between the U.S. and Iran.Europe and Canada are wary of Trump potentially pressuring allies over the Iran issue. Previously, Trump demanded "loyalty" from some allies who did not allow U.S. forces to use their bases for attacks on Iran and criticized NATO as a "paper tiger."* This article has been translated by AI. 2026-07-08 15:52:00
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After World Cup Disappointment, Leadership Changes in Asian Football Asian football is facing a wave of leadership changes following disappointing performances at the 2026 North and Central America World Cup, according to an Associated Press report on July 6.The AP article titled "Resignations Follow World Cup Struggles from Seoul to Riyadh" emphasizes that the criticism extends beyond mere results, calling for accountability within the entire Asian football system.South Korea is highlighted as a primary example. After losing 1-0 to South Africa and being eliminated in the group stage, head coach Hong Myung-bo resigned, followed by the departure of Chung Mong-kyu, president of the Korea Football Association. Son Heung-min expressed his sorrow on social media, stating, "I am heartbroken beyond words" and apologized to the nation.Saudi Arabia also saw its football association president, Yasser Al-Misehal, resign, taking full responsibility after the team's group stage exit. Jordan, making its World Cup debut, parted ways with coach Jamal Selami. Meanwhile, the coaching futures of Qatar and Iraq remain uncertain, and Uzbekistan, which finished the tournament without a point, is expected to retain coach Fabio Cannavaro, the AP reported.The AP noted that this World Cup starkly revealed the realities of Asian football. Nine countries from the Asian Football Confederation (AFC) managed only three wins across 29 matches in the expanded 48-team tournament. Only Japan and Australia advanced from the group stage, both of which were eliminated in the Round of 32. Iran, despite remaining unbeaten, failed to progress with three draws.Furthermore, the AP reminded readers that South Korea's fourth-place finish at the 2002 World Cup remains the highest achievement for Asian football, highlighting the persistent gap between Asia and the world's elite teams.However, Japan demonstrated competitiveness by leading Brazil until the final moments of the second half, and emerging football nations like Uzbekistan and Jordan gained valuable experience, according to the AP.Sheikh Salman bin Ebrahim Al Khalifa, president of the AFC, was quoted stating, "Asian teams are clearly improving, but the gap with the top teams still exists," emphasizing the need for continued efforts to close that divide.This World Cup has left Asian football with both the achievement of expanding its base and the challenge of enhancing its global competitiveness, suggesting that discussions on accountability and systemic reform within national football associations will continue for the foreseeable future.* This article has been translated by AI. 2026-07-08 15:44:00
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Netflix says viewer engagement matters more than ad exposure SEOUL, July 8 (AJP) - Global streaming giant Netflix told roughly 600 advertisers and marketing officials in Seoul that viewer engagement matters more than simple ad exposure, as it seeks to attract more advertising spending to its platform. The company laid out the case Tuesday at "Behind The Streams," an event held at the Grand InterContinental Seoul Parnas. Citing its own 2025 survey, Netflix said 74 percent of viewers who saw ads on the platform later took a related action, such as searching for or buying a product. Netflix also pointed to research from Kantar, the global market research firm, which found that traditional metrics such as reach and gross rating points showed a weaker link to brand impact, while viewer attention showed a correlation of more than 0.6 with brand effects. "The advertising market is shifting from competing over how much exposure an ad gets to competing over how deeply it captures attention," said Lee Chun, director of advertising at Netflix Korea. Lee described Netflix's content lineup as a way for brands to reach viewers who are already absorbed in what they are watching, part of a strategy the company calls "Attention to Connection." The pitch comes as Netflix's ad-supported tier continues to grow. Lee said 60 percent of new sign-ups globally are now choosing the ad-supported plan, giving advertisers a larger pool of viewers to reach. At the event, Netflix showcased Korean advertising partnerships that tied brand messages to its shows and films. The company is also expanding ad products, including single-title sponsorships and interactive video ads, alongside Netflix Ads Suite, its in-house ad platform launched in Korea last September to help marketers plan, buy and measure ad performance. Netflix said it plans to launch advertising in 15 more countries in 2027, bringing its ad business to 27 markets. 2026-07-08 15:42:05