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Vietnam U19 Team Exits Southeast Asia U19 Championship Amid Controversy The Vietnam U19 national team faced elimination from the 2026 Southeast Asia U19 Championship after a penalty kick loss in stoppage time against Indonesia and a draw between Australia and Cambodia. This outcome dashed their hopes of advancing to the semifinals. The situation has sparked discussions not only about performance but also about attitudes and competition culture at the youth level. According to the Vietnamese daily newspaper Người Lao Động on June 10, the Vietnam U19 team started strong with two consecutive wins in the group stage but suffered a 1-2 defeat to host Indonesia, with the decisive goal coming from a penalty awarded in stoppage time. Following this match, Vietnam closely monitored the results of the Thailand and Malaysia game. A draw in that match could have put Vietnam at a disadvantage, but Thailand won 3-2, keeping Vietnams semifinal hopes alive. However, the final twist came in the match between Australia and Cambodia. Australia led 2-0, but Cambodia fought back to equalize at 2-2. Consequently, Cambodia advanced to the semifinals, leaving Vietnam out of the tournament. Some observers have pointed to bad luck as a factor in Vietnams exit, citing the controversial penalty decision in the Indonesia match and the tournaments format, which required the second-place team to rely on results from other groups. Nonetheless, there are concerns that in youth football, the process is often more important than the outcome. Losses are a natural part of growth in sports, and young players often experience mistakes in passing, lack of decisiveness, defensive inexperience, and hasty reactions in the penalty area. These issues can be addressed through training and experience, but this tournament also highlighted controversies regarding game attitudes. Notably, a member of the Vietnamese coaching staff received a red card for what was deemed unsportsmanlike behavior, which was seen as a reflection of the leaderships approach rather than just tactical decisions. In professional sports, there are instances of players pulling on opponents jerseys or disrupting the flow of the game, as well as psychological tactics to pressure referees. However, there is a clear line between tactical cleverness and unsportsmanlike conduct. It is important to distinguish between maintaining composure and resorting to unfair tactics, as well as between legitimate time management and intentional delays. Voices have emerged calling for stricter standards at the youth level. U19 players are at a stage where they develop their playing habits, style, and professional identity. They learn how to receive the ball under pressure, engage in legal physical confrontations, manage emotions in the face of unfavorable calls, and refocus after collisions. Concerns have been raised that excessive time-wasting or showing such behavior by coaches could send the wrong message to players. Youth coaches serve as both strategists and role models, meaning their actions on the field carry educational significance. This tournament has also raised questions about the culture of competition. Vietnamese youth football has traditionally emphasized skills, fitness, tactics, football intelligence, and international experience. However, following this exit, there is a call for a reassessment of game attitudes, values, and competitive methods. Additionally, it has been suggested that pressure should be applied through fitness and organization, rather than through rough tackles or excessive psychological games. It is crucial to recognize the difference between managing a score and deliberately delaying the game. Meanwhile, online discussions have continued to reflect on the situation. One netizen expressed full agreement with an article addressing the issues in football, while another praised it as an accurate assessment of the problems faced by the Vietnam U19 team. In particular, one commenter stated, It is shameful that the Vietnam U19 coaching staff engaged in unsportsmanlike behavior against Indonesia U19. How can they train players with such conduct? Additionally, some online commentators have suggested that this group stage exit serves as a turning point for the direction of youth football in Vietnam, indicating that the Vietnam U19 team has left behind significant challenges following this tournament.* This article has been translated by AI. June 11, 2026 17:33 -
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. June 11, 2026 17:10 -
Korea's Energy Agency Expands ODA Initiatives in Indonesia The Korea Energy Agencys official development assistance (ODA) initiatives are paving the way for the international expansion of Koreas renewable energy model and carbon reduction systems. On June 11, Choi Jae-gwan, the agencys head, visited Jakarta, Indonesia, where he met with the Deputy Minister of the National Development Planning Agency (BAPPENAS) to discuss cooperation on permits and project approvals for new ODA initiatives. On June 12, he plans to visit an agricultural solar power facility at Bogor Agricultural University to assess the projects feasibility. This visit aims to discuss new ODA projects launching this month, including the establishment of an electric two-wheeler charging system based on agricultural solar power and strengthening capabilities for verifying greenhouse gas emissions under Article 6 of the Paris Agreement. Last April, the Korea Energy Agency signed a memorandum of understanding (MOU) with BAPPENAS to accelerate the integration of renewable energy into Indonesias energy transition and climate change efforts. Specifically, the electric two-wheeler charging system project, which will receive 4.4 billion won (approximately $3.3 million) by 2028, combines agriculture, renewable energy, and electric mobility into an integrated business model. It aims to enhance access to clean energy in rural areas and establish a foundation for the adoption of electric two-wheelers. The agency plans to adapt and expand its representative community-based renewable energy model, known as Sunlight Income Village, to fit local conditions in Indonesia. This model allows residents to form cooperatives to operate solar power plants on idle land and share the profits, promoting energy transition and increasing rural incomes. Given Indonesias status as the worlds fourth most populous country and the largest economy in Southeast Asia, the model is seen as suitable due to the significant disparities in energy access across its many islands. The International Energy Agency (IEA) has identified Indonesia as a key player in Southeast Asias energy transition, noting rapid investments in solar and electric vehicle sectors. Additionally, the project to strengthen capabilities for verifying greenhouse gas emissions under Article 6 of the Paris Agreement will involve an investment of 415 million won (approximately $315,000) by 2029. This initiative aims to establish a verification and certification system for emission reduction achievements based on the Internationally Transferred Mitigation Outcomes (ITMO) framework in Indonesia. This effort goes beyond merely supporting renewable energy installations; it also expands the foundation for international reduction projects that Korea is pursuing. Article 6 of the Paris Agreement allows for the trading of greenhouse gas reduction achievements between countries, and Korea is working to expand overseas reduction projects to meet its 2030 Nationally Determined Contribution (NDC) targets. Choi Jae-gwan stated, I find it meaningful that new ODA projects are being pursued based on cooperation with Indonesias BAPPENAS. Drawing on Koreas experience in promoting community-based renewable energy policies, we aim to enhance energy access in rural areas of Indonesia, increase residents incomes, and contribute to sustainable development.* This article has been translated by AI. June 11, 2026 15:42 -
Dong-A ST Exports Technology for Cenobamate to Australia and New Zealand Dong-A ST is set to enter the Australian and New Zealand markets with its epilepsy treatment, Cenobamate (marketed as Xcopri). The company has opted for a licensing-out model, transferring local development, approval, and sales rights, marking a significant expansion of its global business strategy. This move is particularly noteworthy as it represents the first instance of Dong-A ST exporting a product that was initially sourced from abroad.On June 10, Dong-A ST announced that it has signed a technology export agreement for Cenobamate with Arrotex Pharmaceutical, a leading pharmaceutical company in Australia. Arrotex has an extensive distribution and sales network across Australia and New Zealand and operates a dedicated marketing team for central nervous system (CNS) products, enhancing its competitiveness in the epilepsy treatment market.Under this agreement, Dong-A ST will transfer the development and sales rights for Cenobamate in Australia and New Zealand to Arrotex, which will handle local approval and commercialization. Dong-A ST will produce and supply the finished product.In January 2024, Dong-A ST entered into a licensing-in agreement with SK Biopharmaceuticals for Cenobamate, covering 30 countries including South Korea, Southeast Asia, Russia, Australia, New Zealand, and Turkey. The company obtained domestic product approval for Cenobamate in November 2025 and is currently in the process of securing reimbursement listings.According to the company, Cenobamate works by inhibiting sodium channels involved in excitatory signal transmission and enhancing GABAA receptor function, thereby regulating neuronal hyperexcitability and normalizing the balance between excitatory and inhibitory signals. In multinational clinical trials involving adult patients with partial-onset seizures, those treated with Xcopri demonstrated significant reductions in seizure frequency and complete seizure freedom rates, proving its efficacy.Jae-Hoon Jung, CEO of Dong-A ST, emphasized, We will expand our overseas market presence and strengthen our global competitiveness based on various global business models and partnerships.* This article has been translated by AI. June 10, 2026 12:12 -
KOTRA Expands Support for Exporters Amid Middle East Turmoil KOTRA is expanding its support for exporters facing challenges due to instability in the Middle East. The agency is shifting its focus from initial damage control to maintaining exports to the region while also seeking alternative markets in China and Southeast Asia. According to industry sources, KOTRA will urgently operate the 2026 Online Integrated Delegation for Continuing Exports to the Middle East from June 8 until July 31. This initiative aims to assist domestic and novice exporters in maintaining their sales channels as travel and local operations have become difficult due to the prolonged conflict in the region. The delegation will primarily focus on seven trade offices in the Middle East to connect domestic companies with new buyers through one-on-one video consultations. The program is open to about 150 companies, including those with prior export experience to the Middle East and those looking to enter the market. Before the consultations, KOTRA will hold seminars explaining the current situation in the Middle East and the demand for post-conflict reconstruction. The seminars will highlight opportunities in various sectors, including construction, defense, and basic consumer goods, while overseas trade offices will assess the market potential of each companys products to enhance consultation effectiveness. Exporters are increasingly seeking to secure buyers in neighboring regions such as China, Southeast Asia, and Central Asia, as logistics costs and payment risks in the Middle East rise, making it challenging to maintain existing client relationships. Digital marketing efforts will also be implemented. KOTRA plans to collaborate with 20 AI Trade Support Centers nationwide to assist participating companies in creating product introduction content and registering their products in the Buy Korea online special hall for continuous exposure to overseas buyers. AI will also be utilized to identify alternative markets. KOTRA will recommend promising markets based on the HS codes of the products companies wish to export and their export experience, providing reports that include market size, competitive landscape, distribution structure, and information on certifications and regulations, along with potential buyer details. KOTRA plans to expand video consultations to China and Southeast Asia in a relay format, starting with this initiative focused on the Middle East. After the conflict, the agency will also promote export support linked to reconstruction demands in sectors such as plants, healthcare, basic consumer goods, and defense. Kang Kyung-sung, President of KOTRA, stated, In times of crisis, it is KOTRAs role to open export pathways for companies. We will mobilize digital marketing using AI, online consultations, and on-site support from trade offices to assist exporters.* This article has been translated by AI. June 10, 2026 11:03 -
Kim Jeong-ho Receives Gold Tower Industrial Medal for Contributions to Infrastructure Expansion Last year, engineering contract performance reached an all-time high, prompting the government to honor individuals who contributed to strengthening engineering competitiveness. On June 10, the Ministry of Trade, Industry and Energy held the 2026 Engineering Day Ceremony in Seouls Dragon City in collaboration with the Korea Engineering Association. This years event marked the 23rd anniversary and was themed Engineering that Turns Imagination into Reality and Designs Everyday Life. The government awarded 40 individuals with government honors and ministerial commendations for their contributions to national industrial development and enhancing the competitiveness of the engineering sector. The highest honor, the Gold Tower Industrial Medal, was awarded to Kim Jeong-ho, CEO of Dasan Consultants, for his efforts in expanding world-class road and bridge infrastructure using domestic technology, thereby contributing to national economic development. Kim Seong-man, CEO of Mun Engineering, received the Silver Tower Industrial Medal for his contributions to building domestic information and communication infrastructure over the past five decades. Additionally, five presidential citations, four prime ministerial citations, and 29 ministerial and agency citations were presented. Last years engineering contract performance reached 13.1 trillion won, the highest ever recorded. This increase is attributed to the expansion of large-scale infrastructure projects, including nuclear power, railways, and roads, as well as a rise in overseas project contracts, particularly in the Middle East and Southeast Asia. However, the global engineering market is rapidly shifting from traditional design services to digital twin, AI-based design, and smart construction. In response, the government plans to focus on three key initiatives: strengthening AI-based technological capabilities, diversifying overseas markets and supporting global expansion, and establishing a regulatory framework to secure industrial competitiveness. A ministry official stated, To enable our companies to leap forward as global leaders in the steadily growing global market, securing competitiveness is of utmost urgency. We will realize K-engineering as a strong nation through AX technology innovation and enhancing global competitiveness.* This article has been translated by AI. June 10, 2026 06:03 -
KG Group to Return Half of Profits to Shareholders Over Next Five Years KG Group announced that it will return half of its net profits to shareholders over the next five years, focusing on a robust shareholder return policy while presenting long-term growth strategies. The company aims to prioritize the normalization of its undervalued corporate worth as a key management task.On June 9, KG Group held a press conference in Yeouido to unveil its long-term management plan.The event featured CEOs from six major listed subsidiaries, including KG Chemical, KG Eco Solutions, KG Mobility (KGM), KG Steel, KG Inicis, and KG Financial, who each shared their future development strategies.The subsidiaries plan to increase their total shareholder return rate to 50% over the next five years. This decision stems from the belief that the market value does not adequately reflect the companies solid performance and financial health. Chairman Kwak Jae-sun stated, We have decided to return 50% of our net profits to shareholders, and we promise that all six listed companies and K Car will maintain this commitment for five years.To achieve this, KGM will focus on two tracks: eco-friendly vehicles and the KD (knock-down) assembly business, aiming to sell 200,000 units and generate over 10 trillion won in revenue by 2030. The company plans to sequentially launch seven types of eco-friendly SUVs, including pure electric vehicles (EVs), hybrids (HEVs), and plug-in hybrids (PHEVs). Additionally, KGM will target the Middle East and Southeast Asia as key markets for its KD business.KGM CEO Hwang Gi-young announced, We will start operations at our KD factory in Vietnam this September, adding that plans for Bangladesh, Myanmar, and Cambodia are still under consideration. Chairman Kwak also mentioned, We recently launched the Musso in Chile, and our executive is currently in Brazil and Colombia, working with various partners to begin certification processes for our KD business in Latin America.Furthermore, KG Group is pursuing synergy strategies with K Car, the largest direct-used car platform company in South Korea, which is set to join the group. In April, KG Steel agreed to acquire a 400 billion won stake in K Car from Han & Co Auto Service. K Car will be fully integrated into KG Group as of June 30.This integration will allow KGM to enhance its certified used car business by leveraging K Cars capabilities, expanding its offerings to a wider range of vehicle brands. Additionally, K Car, which absorbed Joy Rent-a-Car in 2020, is expected to incorporate KGM vehicles into its corporate leasing and rental sectors. Chairman Kwak emphasized, KGM must continue to invest, and in that sense, K Car is a financially stable company, so investing in it will create synergies.* This article has been translated by AI. June 9, 2026 14:03 -
Daewoong Pharmaceutical Partners with Indonesian Pharmacists Association to Build Local Network Indonesia, the largest country in Southeast Asia by population and economy, is considered a key market in the regional healthcare sector. Daewoong Pharmaceutical announced on June 9 that it has signed a memorandum of understanding (MOU) with the Indonesian Pharmacists Association (IAI). The agreement aims to establish a collaborative foundation to enhance the expertise of local pharmacists and improve public health. The two parties plan to work together in areas including pharmacist education and professional development, academic and expert collaboration, public health and disease management, and the localization of pharmaceuticals and healthcare model development. Daewoong Pharmaceutical and the Indonesian Pharmacists Association will implement tailored education programs for local pharmacists. They will provide lectures focused on pharmaceutical trends and disease management through online webinars and offline symposiums. Additionally, they will jointly operate a pharmacist expert council to promote product planning and brand consulting that reflects consumer characteristics. This initiative aims to strengthen the localization of key products such as EasyDerm, Impactamin, and EasyN6. Based on this collaboration, Daewoong Pharmaceutical intends to enhance consumer trust in Indonesia and expand its over-the-counter drug market by 2030. Indonesia is a country that global pharmaceutical companies prioritize when considering entry into Southeast Asia, which is expected to strengthen Daewoong Pharmaceuticals regional business expansion. Park Eun-kyung, Head of Daewoong Pharmaceuticals CH Marketing Division, stated, This will be an important starting point for establishing a long-term partnership for the advancement of public health and the improvement of national health. We will actively cooperate to ensure that the pharmacist communities in both countries can establish a sustainable growth foundation.* This article has been translated by AI. June 9, 2026 13:54 -
China's Exports Surge in May Amid AI Semiconductor Boom Chinas exports continued to exceed expectations in May, driven by a global boom in artificial intelligence (AI) investment and pre-orders related to the ongoing conflict in the Middle East. According to the General Administration of Customs, exports in May rose 19.4% compared to the same period last year, surpassing the previous months increase of 14.1% and exceeding Reuters forecast of 15%. Imports also saw a significant increase of 27.4%, exceeding both Reuters estimate of 25% and the previous months growth rate of 25.3%. As a result, the trade surplus for May reached $105.4 billion (approximately 160 trillion won), surpassing Reuters estimate of $92.1 billion and the previous months surplus of $84.8 billion. Analysts attribute the rise in exports to increased demand for electronics and information technology (IT) products driven by expanded AI investments. From January to May, Chinas semiconductor exports surged by 90%, while exports of automatic data processing systems rose by 38.7%. The increase in imports is also linked to rising semiconductor prices due to the AI boom, as Chinese companies have ramped up purchases of foreign semiconductors and equipment. In fact, imports from South Korea during the first five months of the year increased by 56.5% compared to the same period last year, largely due to a spike in semiconductor imports. South Koreas semiconductor exports to China in May alone soared by 243% year-on-year. Regionally, trade with the United States has declined due to ongoing trade tensions, but exports to Europe, Southeast Asia, and South Korea have significantly increased, supporting overall export growth. Specifically, exports and imports with the U.S. fell by 2.7% and 5.5%, respectively, while exports to Europe (up 16.4%), Southeast Asia (up 20.3%), South Korea (up 28.5%), Russia (up 26.4%), and Africa (up 25.8%) all showed double-digit growth. However, it remains uncertain whether the current export boom will continue in the long term, as leading indicators of manufacturing activity show signs of slowing. Chinas manufacturing Purchasing Managers Index (PMI) fell to 50.0 in May, the lowest level in three months. Notably, new export orders dropped sharply from 50.3 in April to 48.6, reflecting weakened overseas demand. If export growth falters amid sluggish domestic demand and declining global demand, the downward pressure on the Chinese economy could intensify. This has led to speculation that Chinese authorities may introduce additional economic stimulus measures. June 9, 2026 13:24 -
Global Students Experience K-Chicken Culture at BBQ Chicken University Genesis BBQ Group recently conducted an educational program for international and Korean students, focusing on K-Chicken and the franchise industry. The largest chicken franchise in South Korea, BBQ, invited over 50 students from Chosun Universitys Global Studies Department to its Chicken University in Icheon, Gyeonggi Province, for a corporate tour and chicken camp, the company announced on June 9. This program was part of the Ministry of Educations Glocal University 30 initiative. Students from various majors, including tourism management, international trade, and global business, participated to gain firsthand experience of the Korean food service industry and franchise operations. Participants learned about BBQs global business status and international expansion cases, discovering how K-Chicken has grown in the global market. Currently, BBQ operates its brand in 57 countries worldwide, including the United States, Southeast Asia, and the Middle East. The program also included training on product quality and service management, store operations, and customer service, helping students understand the structure of the food service industry and strategies for maintaining competitiveness. Hands-on experience was a key component, as students prepared BBQs signature dishes, engaging in the cooking process from meat preparation to frying and packaging, mirroring the actual store operations. This provided an opportunity to learn about product development, quality control, hygiene management, marketing, and store management. Notably, students from diverse nationalities and Korean students formed groups to taste chicken together, fostering natural interactions. Participants explored career paths related to the food service and franchise industry while deepening their understanding of Korean food culture through K-food. Kim Hyun-woo, head of Chosun Universitys Global Studies Department, stated, This meaningful program allowed students to connect their academic knowledge with real-world industry experiences. The participation of both international and Korean students also helped enhance adaptation to university life and promote interaction. A BBQ representative remarked, Chicken University is an educational space where students can directly experience the cooking know-how of K-Chicken and the competitiveness of the franchise industry. We plan to expand various educational programs to help domestic and international students understand K-food and the global franchise industry. As the global popularity of K-food rises, there is an increasing trend of industry-academia collaboration programs that offer direct experiences. Last month, Sempio invited students from the University of Georgia in the United States to participate in a program on making gimbap and seasoned vegetables.* This article has been translated by AI. June 9, 2026 09:48 -
Internet Banks See Surge in Overseas Assets as Toss and Kakao Expand Investments Internet-only banks are rapidly increasing their overseas assets. While Toss Bank focuses on managing increased foreign currency in international financial markets, Kakao Bank is expanding its overseas operations through strategic investments. As of the end of March this year, Toss Banks overseas asset management totaled $210 million, more than quadrupling from $50 million during the same period last year. By country, loans in Japan rose from $30 million to $81 million, while loans in Singapore surged from $20 million to $120 million. The reported loans include short-term funding for financial institutions and interbank transactions that arose during the management of foreign currency liquidity. Toss Bank explained that it is managing profitability and liquidity by operating the increased dollars in overseas financial markets such as Japan and Singapore, where the dollar and foreign currency management markets are well developed in Asia. Kakao Banks increase in overseas assets is attributed to the rising value of its foreign investments. As of the end of March this year, Kakao Banks overseas managed assets reached $157 million, more than double the $76 million reported a year earlier. Of this, $147 million was in Indonesian securities, with the remainder consisting of investments in U.S. Treasury bonds and other asset management purposes. The increase in Kakao Banks Indonesian securities reflects the success of its investment in the local digital bank, Super Bank. Kakao Bank invested a total of 114 billion won in Super Bank in two rounds in 2023 and 2024. Following Super Banks listing on the Indonesia Stock Exchange (IDX) at the end of last year, the value of its holdings increased. Kakao Bank is taking the most aggressive approach among internet-only banks in expanding overseas. Last year, it obtained a virtual banking license in Thailand through a consortium that included Thai financial holding company SCBX and plans to become the second-largest shareholder in the upcoming virtual bank. Recently, it signed a memorandum of understanding (MOU) with MCS Group, Mongolias largest company, to pursue investment and business cooperation with the local digital bank, M Bank, thus extending its reach beyond Southeast Asia into Central Asia. In contrast, K Bank and Toss Bank have yet to solidify their plans for entering overseas markets, focusing instead on strengthening their positions in the domestic market. An industry insider noted, While Kakao Bank is concentrating on securing new growth engines in overseas markets, K Bank and Toss Bank are still prioritizing their domestic market strategies and enhancing their core competitiveness.* This article has been translated by AI. June 8, 2026 17:03 -
LG CNS Launches Agentic AI Development Platform for Automated IT System Building LG CNS has introduced an Agentic AI-based development platform designed to support the entire process of building and operating large-scale IT systems. On June 8, LG CNS announced the launch of its Agentic AI Development (AIND) platform. While recent advancements in coding through natural language, known as vibe coding, have gained attention, concerns have been raised about the potential for code generation to clash with existing systems due to a lack of understanding of enterprise system architecture. To address this issue, LG CNS has implemented a specialized AI agent tailored for the entire system development process. AIND was developed based on extensive experience in system construction and operation across various industries. When users input requirements in natural language, the platform facilitates end-to-end development through the collaboration of multiple agents: a requirements analysis and design agent, a coding agent, and a testing and quality assurance agent. For instance, if a financial institution requests the addition of a new financial service to its existing core banking system, such as please build an automatic transfer service for savings accounts linked to the account system, the analysis and design agent will assess the requirements and design the system architecture. Subsequently, the coding agent will generate code in accordance with the financial institutions development standards, and the testing and quality assurance agent will validate the output. This allows users to focus on reviewing and approving results, thereby shortening the development timeline. AINDs core competitive advantage lies in its knowledge foundation, which integrates and analyzes IT information within the enterprise. This knowledge foundation is an ontology-based database structured to help AI understand development standards, security regulations, system source code, and various development deliverables. AIND utilizes this foundation to learn about the enterprises systems and work environment, enabling customized development. LG CNS co-developed AIND with Cline, a U.S.-based open-source AI coding company. Clines AI coding agent has gained attention for its rapid growth on the global development platform GitHub. The two companies plan to expand the application of AIND in IT system construction and operation projects in the finance, public, manufacturing, and defense sectors, focusing on the United States, Japan, and Southeast Asia.* This article has been translated by AI. June 8, 2026 10:03 -
Hana Bank Expands Global Reach with New Office in Subic, Philippines Hana Bank has opened a branch in Subic, Philippines, as part of its efforts to expand its operations in Southeast Asia.On June 7, Hana Bank announced the opening of its Subic branch, aimed at broadening its network in Southeast Asia and meeting the financial service demands of Korean companies and expatriates in the region.Subic is an economic zone located approximately 100 kilometers northwest of Manila, the capital of the Philippines, and is home to HD Hyundai Heavy Industries Philippine subsidiary. HD Hyundai Heavy Industries has been refurbishing its shipbuilding facilities in Subic and began full-scale ship construction in the second half of last year, aiming to produce up to 10 vessels annually and develop the Subic shipyard as a key production hub in Southeast Asia.Hana Bank plans to proactively address the financial needs of HD Hyundai Heavy Industries through its Subic branch. The bank will also support local Korean businesses and provide financial services to the expatriate community. Building on its experience from the Manila branch, Hana Bank aims to establish a comprehensive network that encompasses the financial needs of the Clark area near Subic.With the opening of the Subic branch, Hana Bank now operates 114 networks across 27 regions, the largest number in South Korea, following the establishment of two branches in India in the second half of last year.Kim Young-jun, Vice President of Hana Banks Global Group, stated, The opening of the Subic branch is part of our long-term growth strategy for key markets in Southeast Asia. We will provide more tailored financial services not only to Korean companies and expatriates but also to local customers. June 7, 2026 10:54 -
Jeju Air Celebrates 20th Anniversary as Top Low-Cost Carrier Jeju Air, South Koreas low-cost carrier (LCC), marked its 20th anniversary on June 5. The airline has been credited with popularizing air travel in the country by maintaining cost competitiveness and operational efficiency through its single aircraft type strategy. Jeju Air began operations on June 5, 2006, with flights between Gimpo and Jeju. It quickly expanded to include routes from Gimpo to Busan and from Busan to Jeju, establishing itself in the domestic LCC market. In 2009, the airline entered the international market by launching flights from Incheon to Osaka, subsequently expanding its routes to Japan, China, and Southeast Asia. The airlines passenger transport numbers have steadily increased. From 2006 to 2025, Jeju Air recorded an average annual passenger growth rate of 22.7%. It has maintained the top position in annual passenger numbers among domestic LCCs for 20 consecutive years. In its first year, Jeju Air transported 250,000 passengers, surpassing 10 million in 2017. By July 2023, it became the first domestic LCC to exceed a cumulative total of 100 million passengers, reaching 137.55 million by the end of last month. The airlines growth is attributed to its single aircraft type strategy. Since introducing the Boeing 737-800NG in 2008, Jeju Air has maintained a uniform fleet. Recently, it has accelerated the modernization of its fleet by expanding the introduction of the next-generation Boeing 737-8, aiming to enhance cost competitiveness through more fuel-efficient aircraft. Currently, Jeju Air operates 44 passenger aircraft. From 2023 to May, it acquired 12 Boeing 737-8s while also retiring and selling older aircraft. The airline is also focused on optimizing route operations, implementing a flexible route strategy that adapts to demand changes, particularly for medium- and short-haul flights to Japan, China, and Southeast Asia. A Jeju Air official stated, Over the past 20 years, we have grown by securing cost competitiveness and operational efficiency based on our single aircraft type operation. Meanwhile, Jeju Air continues to perform well despite challenges in the aviation industry due to global oil prices. According to the Ministry of Land, Infrastructure and Transports aviation information portal, Jeju Air transported 1,127,370 passengers in April, a 20.3% increase from 936,899 during the same period last year. The overall load factor was 91.9%, 2.4 percentage points higher than the average load factor of 89.5% for LCCs.* This article has been translated by AI. June 5, 2026 17:30 -
South Korea extends current account surplus streak to 36 months SEOUL, June 5 (AJP) - South Korea extended its current account surplus in April, boosted by strong semiconductor exports, according to preliminary data released by the Bank of Korea on Friday. The country's current account surplus reached US$28.29 billion in April, the second-largest on record, after hitting an all-time high of US$37.93 billion in the previous month. South Korea has now recorded monthly current account surpluses for 36 consecutive months, the second-longest such streak since 2000. The central bank attributed the surplus to a surge in exports driven by strong demand for information technology products, led by semiconductors and computer peripherals. Non-IT exports also rose, as higher global oil prices boosted shipments of petroleum products. "IT products led export growth, while pharmaceuticals, petroleum products and ships also showed high growth rates," Yoo Sung-wook, director general of the BOK's financial statistics department, said during a press briefing. Exports climbed 54.5 percent from a year earlier to $90.59 billion, while imports rose 16.1 percent to $56.70 billion. Exports to Southeast Asia rose 74.2 percent from a year earlier, while shipments to China and the U.S. increased 62.6 percent and 54.0 percent, respectively. Imports also continued to increase, driven by higher crude oil prices amid the prolonged conflict in the Middle East and robust demand for semiconductors and chipmaking equipment. The goods account remained the main driver of the surplus, posting a $33.88 billion surplus, also the second-highest on record. The primary income account, however, swung back into deficit in April, turning into a $2.53 billion shortfall from a US$3.59 billion surplus in March as dividend payments to foreign investors increased. The services account also posted a deficit of $2.42 billion, driven largely by shortfalls in other business services and manufacturing services. Investment income remained in deficit at $2.38 billion, while equity income posted a larger deficit of $3.02 billion. The BOK attributed the deterioration largely to the seasonal concentration of dividend payments in April, with higher payouts among major Korean firms widening the deficit further by increasing outflows to foreign shareholders. Yoo said the April deficit in the primary income account was not unusual, as dividend payments are typically concentrated in April. He added that the shortfall was the largest for any April since 2022, when the deficit reached $3.62 billion. The financial account posted a net asset increase of $25.46 billion during the month. Portfolio investment liabilities rose by $3.51 billion after a sharp decline in March, as foreign investment in Korean debt securities rebounded following South Korea's inclusion in the FTSE World Government Bond Index (WGBI), according to the BOK. June 5, 2026 09:24