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Foreign Investors Withdraw from South Korean and Taiwanese AI Semiconductor Stocks Foreign investment is rapidly exiting the leading semiconductor stocks in South Korea and Taiwan. With significant sell-offs in major tech firms like Samsung Electronics, SK Hynix, and TSMC, nearly 30 trillion won (approximately $23 billion) has flowed out this month alone. According to the Korea Exchange and the Taiwan Stock Exchange (TWSE), from June 1 to June 10, foreign investors sold a net 11.82 trillion won (about $9 billion) worth of Samsung Electronics and 6.99 trillion won (around $5.4 billion) of SK Hynix. In Taiwan, foreign investors sold approximately 8.7 trillion won (about $6.7 billion) of TSMC and around 2.4 trillion won (about $1.8 billion) of Quanta, an AI server manufacturer. Additionally, Hon Hai Precision, known as Foxconn, saw a net sell-off of 160 billion won (about $123 million). South Korea and Taiwan are central to the global AI semiconductor industry. Samsung Electronics and SK Hynix are key players in the AI semiconductor and high-bandwidth memory (HBM) markets, while TSMC is the world's largest foundry. Quanta and Hon Hai Precision are major companies responsible for producing NVIDIA AI servers. This year, both countries' stock markets have gained prominence in the global arena, bolstered by increased AI investments. According to Bloomberg, as of June 10, Taiwan has become the fifth-largest stock market in the world, thanks to TSMC's soaring market capitalization, while South Korea ranks eighth, driven by Samsung Electronics and SK Hynix. Market analysts are noting the simultaneous foreign sell-offs in key AI stocks from both countries this month. Reuters reports that foreign capital has exited the South Korean market by $12.63 billion and the Taiwanese market by $8 billion this month. The combined outflow from South Korea and Taiwan exceeds $20.6 billion (approximately 31.6 trillion won). Analysts suggest that this shift in foreign investment is more likely a profit-taking strategy rather than a reaction to deteriorating market conditions. Yang Seung-soo, a researcher at Meritz Securities, stated, "Taiwan's IT companies continued to see sales growth in May, driven by increased AI demand. The structural strength of AI infrastructure demand and ongoing memory supply shortages persist." He added, "Recent foreign selling is more indicative of profit realization and portfolio rebalancing than a response to worsening market conditions."* This article has been translated by AI. 2026-06-11 17:12:00 -
First Extradition of Illegal Manga Sharing Site Operator from Japan The Ministry of Justice announced on June 11 that it has extradited a 37-year-old man, referred to as A, from Japan through criminal extradition procedures. A is accused of operating an illegal manga sharing site from 2015 to 2022, where he allegedly posted over 1,400 copyrighted manga works and advertised gambling sites. Originally a South Korean national, A left for Japan in 2017 and acquired Japanese citizenship in 2022. Following a request for cooperation from prosecutors and police in January 2024, the Ministry began reviewing the case and legal issues. Subsequently, it engaged in discussions with Japanese authorities regarding the extradition. The process was completed in March, culminating in A's return to South Korea after receiving final approval from Japanese officials. The Ministry maintained close cooperation with Japanese authorities throughout the extradition process. A Ministry official emphasized, "This case marks the first instance of South Korea receiving an extradited criminal with Japanese nationality since the signing of the Extradition Treaty between South Korea and Japan in 2002." Looking ahead, the Ministry plans to hold accountable those who infringe on copyrights and harm the cultural content industry, including webtoons. The Ministry stated, "We will investigate the illegal manga sharing site associated with A, working through international cooperation to uncover the full extent of the criminal methods and operational structure, and ensure thorough tracking and recovery of criminal proceeds. We will collaborate closely with the prosecution, police, and the Ministry of Culture, Sports and Tourism." * This article has been translated by AI. 2026-06-11 17:12:00 -
BTS turns Busan into Asia's hottest destination SEOUL, June 11 (AJP) - Busan, South Korea's second-largest city and biggest port, has turned into a mini-Asia as it hosts a two-day homecoming concert for BTS, timed with the group's 13th anniversary. The summer vacation season arrived early for the coastal city, with fans crowding department stores, luxury outlets, convenience stores and Olive Young shops, while roaming beaches and BTS-themed streets ahead of the June 12-13 concerts. By late May, major hotels including Paradise Hotel Busan, The Westin Josun Busan, Grand Josun Busan, Ananti Cove and Sono Moon Haeundae had either sold out or reported occupancy rates above 90 percent for the concert period. "BTS WORLD TOUR 'ARIRANG' IN BUSAN" will take place at Busan Asiad Main Stadium, the same venue that hosted "Yet To Come in BUSAN" in October 2022, the group's last major full-member performance before the members began their mandatory military service. The second day of the concert also falls on the anniversary of BTS's debut, adding emotional weight to the Busan shows. It marks a homecoming after the group launched its world tour in Goyang, west of Seoul, drawing about 132,000 fans over three performances. Since then, BTS has swept through Japan, the United States and Mexico, with Busan serving as the latest stop on a global itinerary spanning 34 cities and up to 85 performances through March 2027. The group also picked up Artist of the Year and two other trophies at the American Music Awards during its stop in Las Vegas. The tourist boom is already translating into stronger consumer spending across Busan. Foreign sales at Shinsegae Centum City surged 267 percent during the first five months of the year from a year earlier, while overseas visitor sales at Lotte Department Store's Busan Main Store and Dongbusan branch rose 125 percent and 150 percent, respectively. Convenience stores and beauty retailers have also benefited. Foreign-currency transactions at GS25 stores near major tourist destinations such as Haeundae and Gwangalli jumped nearly 192 percent, while foreign sales at Olive Young stores in key tourism districts rose 64 percent. Spending by visitors from Greater China increased by about 80 percent. The figures suggest Busan is increasingly attracting tourists from Taiwan, Hong Kong, China and other parts of Asia not only as a sightseeing destination but also as a shopping and lifestyle hub. Industry officials say foreign tourists who once concentrated their spending in Seoul's Myeong-dong and Gangnam are increasingly extending their trips to Busan. The city has also prepared sideline showcases and events such as the Busan Port Festival and the Busan One Asia Festival to ride the BTS boom. "When you walk into Shinsegae Department Store these days, it's hard to tell whether you're in Busan or Fukuoka," said Park Sun-young, a 50-year-old resident of Busan's Centum City district. "You see Japanese and Chinese shoppers lining up outside luxury boutiques such as Hermès and Louis Vuitton. It's the same in Haeundae. I've never heard so many different Asian languages spoken in one place before," she added. Foreign arrivals reached 7.01 million in the first four months of this year, up 20.9 percent from a year earlier. Taiwan recorded the fastest growth at 34.1 percent, followed by China at 23.5 percent, Japan at 19.5 percent, Vietnam at 12.6 percent and the United States at 11.6 percent. Busan has emerged as one of the biggest beneficiaries of that trend. The city welcomed a record 3.64 million foreign visitors in 2025, while more than 1.02 million overseas travelers visited during the first quarter of this year, up 45 percent from a year earlier and marking the fastest time the city has surpassed the one-million-visitor mark since related statistics began in 2014. Authorities are preparing for a sharp increase in overseas visitors. The Incheon Airport Immigration Office said it will implement special operating measures from Wednesday to Saturday in anticipation of a surge in foreign arrivals traveling to Busan for the concerts. During a previous BTS concert period in April, daily foreign arrivals at Incheon Airport rose to between 47,000 and 49,000, roughly 26 percent higher than the monthly average. Chinese visitors accounted for the largest share, while travelers from Japan, Taiwan and Southeast Asian countries also increased significantly. Unlike BTS's first comeback performance at Seoul's Gwanghwamun Square in March, where nearly three-quarters of foreign attendees were long-term residents already living in Korea, the Busan concerts are expected to draw a larger share of visitors traveling specifically for the event, particularly from China, Taiwan, Japan and Southeast Asia. The trend has been aided by frequent regional air routes, even as long-haul travel remains costly amid the Gulf crisis. The city's growing popularity has even spawned the term "Busan craze," referring to travelers who find themselves wanting to return after experiencing the city's beaches, food culture and laid-back coastal atmosphere. But not everyone has been happy with the city. According to data from the Korea Tourism Data Lab, operated by the Korea Tourism Organization, Busan alone accounted for more than half of all tourism-related complaints filed nationwide in May, with 185 of 368 cases reported in the city. That total was equivalent to about 77 percent of all tourism complaints reported in Busan during the entirety of 2025. Complaint numbers jumped sharply from 48 in April to 185 in May, with accommodation-related grievances making up the overwhelming majority. Many complaints involved unilateral reservation cancellations, excessive cancellation fees and allegations of price gouging. Foreign visitors accounted for 83.8 percent of all complaints, significantly outnumbering domestic travelers. The increase came after reports emerged that some accommodation providers had canceled existing reservations and relisted rooms at higher prices following the announcement of BTS's Busan concerts. BTS members personally appealed to hospitality operators not to damage the image of the country or the group through profiteering. Local and central government authorities have since stepped up inspections of lodging businesses and transportation operators to prevent unfair pricing practices and minimize inconvenience for visitors. After Busan, BTS will continue its world tour through Europe, North America, Latin America, Southeast Asia, Greater China and Australia. The scale of the concerts and the consistency of production quality at each venue have drawn awe and praise, generating a wave of online confessions from new fans who say they have converted to ARMY. In a social media post on Monday, a member of the tour's technical team said the show will feature a 360-degree stage designed to bring fans closer to the performance, supported by around 100 trucks, 10 cargo aircraft and 400 crew members. The concerts will also be streamed online and shown through live-viewing screenings, allowing fans outside Busan to take part in the anniversary event. For Busan, the shows are more than another stop on the group's world tour. They may test whether a burst of global attention can become something more lasting. 2026-06-11 17:10:07 -
Future of Shipbuilding and Shipping Industry Hinges on AI Innovation Artificial intelligence (AI) is emerging as a critical factor in determining the future competitiveness of the shipbuilding and shipping industries, prompting a significant shift towards AI transformation (AX) across the maritime sector. Companies are beginning to integrate AI not just as a tool for routine tasks but as a central element of their management strategies, aiming to embed it throughout their organizational culture and processes. On June 11, KR hosted a technology seminar in Seoul to commemorate its 66th anniversary, focusing on the theme of 'Strengthening K-Maritime Leadership through AI.' In his welcoming remarks, KR Chairman Lee Yong-seok stated, "In this era of significant transformation driven by decarbonization and the convergence of AI and digital technologies, it is challenging to maintain competitiveness without technological innovation. KR is committed to advancing AI integration across all operational areas to contribute to Korea's leadership in global maritime standards." Park Jeong-seok, President of the Korea Shipping Association, emphasized, "The global maritime environment is rapidly changing due to decarbonization regulations, supply chain restructuring, and digital transformation. The technological standards and digital solutions developed by Korean Register, incorporating AI and AX, will be essential for supporting the future competitiveness of our shipping industry." The first keynote speech was delivered by Kim Hyung-kwan, CEO of HD Hyundai Heavy Industries. He discussed the changes AI technology will bring to the shipbuilding industry and outlined HD Hyundai's digital transformation strategy under the theme 'Next Voyage in the AI Era.' Kim noted that with a declining working-age population and increasing technological competition from China, AI and digital transformation have become essential for maintaining the competitiveness of the domestic shipbuilding sector. He stressed the need to enhance productivity and competitiveness by integrating design and production data through AI-based digital manufacturing (DM) and accelerating the establishment of smart shipyards. The second keynote address was given by Yoo Hyun-kyung, Vice President of Microsoft Korea, who spoke on 'Preparing for the Agentic AI Era: What Should Companies Do?' She explained the direction of AI technology development and corporate response strategies. Yoo pointed out that merely adopting AI is insufficient and that organizations must redesign their culture and workflows around AI to enhance competitiveness. In the third keynote speech, Kim Dae-heon, Vice President of KR, introduced KR's digital transformation strategy under the theme 'KR: Technological Innovation and Future Challenges through AX.' He stated, "We must transition to a digital register through AX, which embeds AI across all work processes, and establish an intelligent maritime service system." The event was attended by KR Chairman Lee Yong-seok, Lee Soo-ho, Director of the Maritime Safety Bureau at the Ministry of Oceans and Fisheries, Park Jeong-seok, President of the Korea Shipping Association, as well as numerous representatives from the domestic shipbuilding, shipping, and equipment industries, along with officials from government agencies.* This article has been translated by AI. 2026-06-11 17:09:00 -
GC Green Cross Shares mRNA Development Strategy at Pandemic Summit GC Green Cross announced on June 11 that it presented its mRNA vaccine development strategy for future pandemic responses at the "Seoul Pandemic X Summit 2026." During the event, the company revealed its proprietary mRNA-LNP platform and the current status of its COVID-19 vaccine development. Since 2019, GC Green Cross has been researching an AI deep learning-based mRNA-LNP platform. The company has developed capabilities for mRNA sequence design that maximizes protein expression efficiency through codon optimization software, and has enhanced delivery efficiency with optimized LNP lipid structures and compositions. The COVID-19 mRNA vaccine candidates being developed on this platform have shown immune responses comparable to global vaccines in preclinical studies, and their safety has been confirmed. Additionally, the company has established a complete in-house process from cell line development to mRNA synthesis, LNP formulation, final product manufacturing, and quality analysis. The mRNA vaccine platform is considered a versatile technology that can rapidly respond to new pathogens and variants, not limited to specific infectious diseases. The ability to independently develop and produce mRNA vaccines in South Korea is seen as a key element of vaccine sovereignty, ensuring stable access to vaccines amid global supply chain uncertainties. "We will strengthen our pandemic response capabilities based on our mRNA research capabilities and production infrastructure," said Jeong Jae-wook, head of R&D at GC Green Cross.* This article has been translated by AI. 2026-06-11 17:09:00 -
OpenAI's Sam Altman to Visit South Korea for Key Meetings with Major IT Firms Sam Altman, CEO of OpenAI, will visit South Korea from June 14 to 15 for a series of meetings with major domestic IT companies, including Samsung Electronics, Kakao, and Naver. According to a report by Yonhap News on June 11, during his visit, Altman is expected to discuss collaboration on AI semiconductors and business innovation with Samsung Electronics, while also exploring opportunities for expanding AI services based on KakaoTalk with Kakao. He is also anticipated to seek potential partnerships with Naver, focusing on cloud and data center sectors. Notably, discussions with Samsung are expected to follow up on the 'Stargate' project agreed upon last year. Stargate is a $500 billion initiative to build AI data centers in the U.S., led by OpenAI, Oracle, and SoftBank, with Samsung Electronics and SK Hynix participating as suppliers of high-performance AI memory. On June 15, Altman will visit Samsung Electronics' Digital City in Suwon, where he will give a lecture on advancements in AI technology and business innovation to employees. He is also set to meet with senior executives to discuss expanding the use of ChatGPT and collaborating on AI infrastructure. Later that day, he is expected to meet with Kakao CEO Jeong Shin-a to discuss strengthening the integration of KakaoTalk and ChatGPT, as well as developing new AI services. Plans for a visit to Naver are also being coordinated, with discussions on potential collaboration in AI infrastructure. This visit marks Altman's return to South Korea approximately eight months after his last trip in October 2025. The industry is keenly observing whether this visit will lead to more concrete AI collaborations between OpenAI and domestic companies. 2026-06-11 17:09:00 -
Trump Discusses Sharing AI Company Profits with the Public Donald Trump, President of the United States, has reiterated his interest in finding ways to share the profits from artificial intelligence (AI) companies with the public. This comes amid growing concerns about job losses due to automation, leading to discussions about the possibility of the U.S. government acquiring stakes in major firms. According to Reuters, Trump stated during a press briefing in the Oval Office on June 10 that he plans to meet with 12 to 15 executives from leading AI companies soon. He emphasized, "We are discussing ways to give something back to the people. If that happens, the public will become very wealthy." He added, "I believe they will do it," and noted that such a move would receive significant support. The White House has not disclosed the names of the companies that will be represented at the meeting. Earlier, on June 5, Trump expressed a desire to discuss sharing the benefits of the AI industry's success with Americans during a meeting with AI companies. He mentioned that related stakes could potentially be offered to the American public. This proposal aligns with growing public skepticism about technology in the U.S. A Reuters/Ipsos poll revealed that 53% of American adults believe that the spread of AI could result in job losses for themselves or their family members. Similarly, a Quinnipiac University survey found that 55% of respondents think AI will do more harm than good in daily life. Within the industry, similar proposals have emerged. OpenAI announced in April the creation of a "public fund" to invest in AI companies and related technology firms, with plans to distribute profits to citizens. Anthropic also stated it would establish a $200 million fund to study the impact of AI on jobs and the economy. However, the specifics of how these plans would be implemented remain unclear. It is uncertain whether the government would directly hold shares, if a separate fund would manage dividends, or if private entities would voluntarily participate.* This article has been translated by AI. 2026-06-11 17:06:00 -
From Ejae to BTS, K-pop in spotlight at World Cup SEOUL, June 11 (AJP) - K-pop is set to steal some of the spotlight at this year's FIFA World Cup, with singer Ejae, who gained global fame through Netflix's hit animation, scheduled to perform at the opening ceremony, and BTS set to headline the halftime show at the final. According to organizers, Ejae, along with Italian tenor Andrea Bocelli, is scheduled to perform "DNA," the official anthem of this year's World Cup, at the opening ceremony in Mexico City on Thursday. The song also features David Guetta and Megan Thee Stallion. The opening ceremony is set to take place at Estadio Azteca shortly before the tournament's first match between co-host Mexico and South Africa, followed by separate ceremonies in Los Angeles and Toronto, as this year's quadrennial football tournament is hosted by three different countries. EJAE is a South Korean-American singer-songwriter known for her songs included in the soundtrack of Netflix's animated film "KPop Demon Hunters." She is also credited with writing the Korean lyrics for "DNA." "It's especially meaningful because I was able to write Korean lyrics in the song, representing Korea on this stage is such an honor," EJAE told FIFA. She also recalled that watching football fans in Seoul take to the streets to cheer for the South Korean squad during the 2002 World Cup remains one of her most unforgettable childhood memories. Meanwhile, BTS will perform at the final halftime show along with American pop icon Madonna and Columbian pop star Shakira on July 19 at New York New Jersey Stadium, commonly known as MetLife Stadium. The show will be curated by Coldplay frontman Chris Martin, who also contributed to BTS's latest album "Arirang" released in March this year. The show will be orchestrated by Coldplay's Chris Martin, who also participated in the septet's latest album "Arirang" released in March this year. BTS member Jungkook previously performed at the opening ceremony of the 2022 FIFA World Cup in Qatar. 2026-06-11 17:05:44 -
Seven More Regions Selected for Rural Basic Income Pilot Program The South Korean government has selected seven additional regions, including Jin-an and Muju in North Jeolla Province and Cheongsong in North Gyeongsang Province, for its rural basic income pilot program. This expansion increases the number of pilot areas from 10 to 17. On June 11, the Ministry of Agriculture, Food and Rural Affairs announced the results of the application process for the rural basic income pilot program, which will run until next year. The newly selected regions include Hwacheon in Gangwon Province, Boeun in North Chungcheong Province, Jin-an and Muju in North Jeolla Province, Gurye and Boseong in South Jeolla Province, and Cheongsong in North Gyeongsang Province. The rural basic income pilot program provides a monthly payment of 150,000 won (approximately $130) in local love gift certificates to all residents living in designated areas that have been classified as population decline regions. The ministry has been conducting pilot programs in 10 counties, including Yeoncheon, Jeongseon, Okcheon, Cheongyang, Jangsu, Sunchang, Gokseong, Sinan, Yeongyang, and Namhae, since this year to combat population decline. A total of 44 counties applied for the program, resulting in a competitive ratio of 8.8 to 1. An evaluation committee composed of private experts in rural policy and basic income assessed the applications based on regional development indices, income return models, and local funding availability. In this round of applications, Hwacheon County proposed a model that returns profits from its annual trout festival and shared community assets to fund the basic income, while Jin-an County presented a model focused on creating a solidarity fund and supporting entrepreneurship through the basic income. Residents in the newly selected rural areas will undergo qualification checks, including application submissions and residency verifications, before receiving the basic income in the form of local love gift certificates starting in August. However, to prevent fraudulent claims, new residents will have to confirm their residency for 90 days after applying. The ministry anticipates that the additional seven counties will experience positive economic impacts from the rural basic income program. In the initial 10 pilot counties, the population increased by 4.7% and the number of new businesses rose by 13.7%. The ministry expects that the income of rural residents in the newly selected areas will also increase, stimulating local consumption. To support the implementation of the rural basic income, the ministry plans to provide close assistance through the Rural Basic Income Promotion Team. The budget for this year's rural basic income program is set at 70.6 billion won (approximately $63 million). Minister of Agriculture, Food and Rural Affairs Song Mi-ryeong stated, "The rural basic income pilot program is an effective policy that can simultaneously improve residents' quality of life and revitalize the local economy. With the expansion of the target areas, we will do our utmost to support rural communities in overcoming the threat of extinction and regaining vitality."* This article has been translated by AI. 2026-06-11 17:03:00 -
South Korea Expands Economic Cooperation with Central Asia The South Korean government is seeking to enhance economic cooperation with Central Asia by exploring collaboration in supply chains, artificial intelligence (AI), and renewable energy sectors. On June 11, the Ministry of Finance and Economy announced that it held a meeting of economic cooperation experts with Central Asia, chaired by Deputy Minister Heo Chang, at the Government Complex in Seoul. This meeting was organized in preparation for the upcoming 2026 Korea-Central Asia Summit scheduled for September, aiming to identify practical cooperation projects and expand economic ties with Central Asia, a key partner in the New Northern Policy. Participants emphasized the region's significant potential as a logistics hub and its rich energy and mineral resources, advocating for strengthened supply chain cooperation. They agreed on the need to expand collaboration in future industries such as AI and digital transformation, renewable energy, biotechnology, and smart infrastructure, while providing tailored support for South Korean companies entering these markets. Deputy Minister Heo stated, "We plan to actively incorporate the various policy proposals and cooperation ideas discussed today into future policy formulation and preparations for the summit. We will work to strengthen high-level cooperation channels, including the Korea-Uzbekistan vice ministerial meeting, and enhance the economic and financial cooperation foundation to elevate Korea-Central Asia collaboration to a new level." He added, "This summit will be the first of its kind hosted by South Korea and Central Asian countries, and it will be the only multilateral summit held domestically this year, serving as a catalyst for advancing Korea-Central Asia economic cooperation."* This article has been translated by AI. 2026-06-11 17:03:00