IT
In the AI era, delivering and storing power matters as much as generating it
South Korea aims to more than double its renewable energy capacity to 100 gigawatts by 2030, but generating electricity is only half the task. Solar farms can be built in under two years, while the transmission lines that carry their output can take far longer. Sourcing power is necessary; supplying it is a must.
The Electric Power Research Institute estimates that for a data center above 500 megawatts, a new gas plant would take at least five years and a new transmission line at least seven. Mega data centers need enormous, concentrated flows of power, so a grid that can handle them is critical. At a recent policy seminar in Korea, a presenter said chip and AI mega projects will need more than 30 gigawatts from 2029.
The government favors sites where the grid has room and wants batteries added to local grids. Storage is another part of the answer: one California startup says it is building batteries that hold power for more than 100 hours, compared with four to ten for lithium-ion. Even as chipmakers develop more efficient models, reliably acquiring and distributing electricity is now one of the industry's biggest challenges.
Finance in the AI era: inclusive growth and geopolitical risk top the agenda
The Institute for Global Economics and KB Financial Group hosted an international conference in Seoul on Friday on finance in the AI era. Global financial leaders and top economists stressed that the benefits of AI innovation must spread across the real economy to foster inclusive growth, with financial systems opening new opportunities for more people rather than only funding innovation.
Nobel-winning economist Joseph Stiglitz, joining online, warned of the risks of over-investing in AI and called for policy action so that tech gains reach essential sectors such as healthcare and education. Strengthening South Korea's strategic response and financial market competitiveness amid global geopolitical shifts was also presented as a key task.
Victor Cha said the biggest problem for Korean business is President Trump's unpredictability, with tariff rates moving from 15 percent to 30 percent within two weeks. He said the midterm elections, which gave Democrats control of Congress, signal less of that volatility from Washington. But he warned that public friction between Seoul and Washington over issues such as OPCON transfer and corporate disputes is the real risk, and urged closed-door negotiations and compromise on both sides.
Domestic nuclear-powered submarine project clears key strategy review
South Korea's nuclear-powered submarine project is closer to reality after the Defense Acquisition Program Administration approved the basic strategy for the Jangbogo-N program on Friday. The N stands for Next generation, Nuclear power and Neo technology. The project was exempted from a preliminary feasibility study on security grounds, skipping a process that usually takes one to two years.
A shipbuilder will be chosen through competitive bidding among domestic companies, with a contract expected in the second half of next year. The government will directly procure key components, including small modular reactors and major weapons systems, and supply them to the builder. Nuclear-powered vessels can stay submerged far longer and move faster than diesel-electric submarines.
DAPA says the submarines will strengthen deterrence against North Korea's nuclear and missile threats and enhance underwater strike capabilities. Work is to begin in 2027, with the first boat targeted for launch in the mid-2030s and deployment in the late 2030s. The total cost has not been finalized but is estimated at nearly 29 trillion won, or over 21 billion U.S. dollars.
Politics
Ruling party pushes special counsel bill through the National Assembly
The National Assembly voted Friday on a contentious special counsel bill led by the ruling Democratic Party. The measure calls for an investigation into allegations of fabricated probes and indictments under the former Yoon Suk Yeol administration.
The main opposition People Power Party staged a filibuster on Thursday to block the legislation, arguing it was designed to shield President Lee Jae Myung from ongoing criminal trials.
Under the bill, the special counsel team could include up to 309 personnel, with an investigation period of up to 200 days.
President Lee names defense procurement chief as justice minister nominee
President Lee Jae Myung on Friday nominated Lee Yong-cheol, head of the Defense Acquisition Program Administration, to lead the Justice Ministry. Chief of Staff Lim Kwang-hyun said the nominee, a former lawyer, is expected to use his extensive administrative experience to ensure a smooth transition to the country's new criminal justice system.
Ahn Duk-su, head of the Seoul Regional Tax Office, was tapped as the new National Tax Service commissioner. Both nominees must undergo confirmation hearings, though neither needs parliamentary approval to take office.
Former two-term lawmaker Choi In-ho was named the president's new senior secretary for political affairs.
Lee and Timor-Leste's Horta discuss peace, democracy and broader cooperation
President Lee Jae Myung hosted Timor-Leste's President Jose Ramos-Horta in Seoul on Friday for the first official presidential visit from the Southeast Asian nation, with talks covering diplomacy, security, the economy and socio-cultural ties.
Lee recalled the Sangnoksu Unit, which served in peacekeeping and reconstruction in Timor-Leste, as a special symbol of solidarity. Horta said Korea's experience of national reconstruction and economic transformation continues to offer valuable lessons for his country's development.
Horta said he would nominate the Korean people as a candidate for the Nobel Peace Prize for what he called the Revolution of Light, the resistance against the short-lived martial law in 2024. The 1996 laureate previously recommended former President Kim Dae-jung, who won in 2000. The two sides agreed to expand cooperation on intellectual property, climate response and transnational crime, and to conclude a framework agreement for grant aid early. They also agreed to work closely for peace on the Korean Peninsula and in the region after Timor-Leste joined ASEAN last year.
Economy
KOSPI plunges more than 8 percent, triggering circuit breaker
The KOSPI triggered a Level 1 circuit breaker on Friday morning after falling more than 8 percent from the previous session's close. The Korea Exchange said the benchmark index dropped 8.55 percent to the 4,900 range at 9:03 a.m. and stayed there for a minute, halting trading for 20 minutes.
The index fell below the 5,000 mark during intraday trading for the first time in about nine months. Samsung Electronics slid nearly 10 percent to 181,400 won and SK hynix tumbled almost 12 percent to 1.115 million won. A sell-side sidecar suspended program selling on the KOSDAQ for five minutes at 9:06 a.m., and another was triggered on the main bourse at 9:34 a.m. By 11:30 a.m. the KOSPI had pared losses to 5,174.85.
The rout followed a steep sell-off in semiconductor and AI-related shares on Wall Street. The Nasdaq fell 5.52 percent, its biggest one-day drop since April 2025, wiping out about 2.5 trillion dollars in market value. Nvidia lost more than 9 percent, while AMD and Micron each plunged over 17 percent. Investors are questioning whether massive AI spending will pay off, and Democratic midterm gains raised fears of tighter restrictions on AI data center construction.
Trump warns of tariffs up to 300 percent on firms that do not build in the U.S.
President Donald Trump is doubling down on his trade policy, warning of triple-digit tariffs on foreign companies that fail to build factories in the United States just days after the midterm elections.
Speaking to reporters in the Oval Office on Thursday, Trump said foreign firms are building more than 3,000 factories in the U.S. and that all of that construction would stop if he removed tariffs now. He said 99 percent of the reason is to avoid tariffs of 50, 100 or 250 percent, which no longer apply once a factory starts operating. He also named South Korea, along with China, Japan and the Philippines, as countries the U.S. would import from if tariffs were scrapped.
Democrats, who take control of both chambers in January, plan to push back, saying the tariffs drive up prices and living costs. Ken Martin, chair of the Democratic National Committee, said rolling back the tariffs should be the first thing Democrats do. Experts expect major companies to follow through on their U.S. investment plans while adjusting their approach to the new political landscape. The U.S. already imposes a 15 percent rate on South Korean goods.
Oil prices rebound after an 8 percent plunge
Global oil prices rebounded on Thursday after a plunge of more than 8 percent in the previous session, as concerns over Middle East supply disruptions resurfaced. West Texas Intermediate futures for December rose 2.72 percent to settle at 90.52 dollars a barrel, while Brent futures for January climbed 3.88 percent to 98.29 dollars.
Prices had tumbled on Wednesday after Democrats won control of both chambers of Congress in the U.S. midterm elections, raising hopes for an early end to the war with Iran. Continued attacks on oil tankers in the Middle East renewed fears of supply disruptions and pushed prices back up.
Society
Seoul unveils World Youth Day 2027 plans, expecting 500,000 participants
South Korea is gearing up to host one of the Catholic Church's largest international gatherings next summer. At a press conference in Seoul on Thursday, organizers unveiled detailed plans for World Youth Day 2027, the first edition to be held in a country where Christians are not the majority.
The event will run for six days from August 3 to 8 and is expected to draw around 500,000 registered participants, including 400,000 from 190 countries. The opening Mass will be held at Seoul World Cup Stadium on August 3, and the same venue will host a welcoming ceremony for Pope Leo XIV two days later on his first visit to Korea since becoming pontiff. The overnight vigil and closing Mass will take place at Seoul Air Base on August 7 and 8, with up to one million people expected at the final Mass.
With huge crowds in the middle of summer, safety is the top priority. Organizers are working with police, firefighters and medical teams on rapid emergency response, and preparing shaded areas, cooling stations and drinking water for extreme heat. Before the main event, young pilgrims will join cultural and community programs in 15 dioceses. Research estimates the event could generate between 2.07 and 3.15 trillion won in economic output and support more than 11,000 jobs.
Korean kidswear goes viral at Seoul's Namdaemun Market
Seoul's historic Namdaemun Market, home to more than 10,000 shops in maze-like alleys and Korea's largest traditional market for over six centuries, is seeing a boom in children's fashion. The trend comes amid a recent uptick in the birth rate and a growing influx of international tourists, with local officials saying the market draws around 30,000 foreign visitors a day.
Some stores are so packed that shoppers need numbered tickets to get in, and foreign visitors show vendors photos and videos of trending styles. As Korean kidswear gains traction on social media, vendors are expanding into livestream shopping and other channels, and some sell at wholesale prices to overseas retailers.
According to the Korea Customs Service, infant clothing exports more than doubled from 5 million dollars in 2023 to 12.2 million dollars last year, reaching 9.3 million dollars in the first nine months of 2026. Vacancy rates for children's clothing stores have fallen to around 15 percent. Vendors hope the international buzz turns into lasting demand as shoppers discover that the quality lives up to the hype.
Arirang TV wraps up youth journalism program for local students
Arirang TV's youth journalism program, Mirae On, wrapped up on Friday with a closing ceremony for participating students from Sehwa Middle School in Seoul's Seocho District. The students shared their completed projects and received awards recognizing their achievements.
Launched in April, the eight-session program offered hands-on experience in reporting and video production along with mentoring from production and news center staff. It aimed to strengthen media literacy, promote cultural diversity and help students explore careers in broadcasting.
The initiative is part of Arirang TV's efforts to fulfill its social responsibility under ESG principles by supporting education and engagement with the local community.
World
Washington reviews Tehran's two-day plan delivered through Qatar
Hopes for a diplomatic breakthrough in the Iran conflict are cautiously rising after a senior Iranian official said Tehran had delivered a nuclear proposal to Washington through Qatar. Reuters, citing the official, reported that the proposal can be discussed only after Washington meets Tehran's seven demands.
Dubbed the two-day plan, the proposal condenses Iran's previous position into a rapid implementation framework: if the United States fully meets the demands, Iran would open the Strait of Hormuz within two days and resume wider negotiations. The demands reportedly include lifting the U.S. blockade of Iranian ports, suspending sanctions on Iranian oil sales, cancelling new sanctions and returning frozen assets held abroad.
According to five officials briefed on the talks, the move followed Qatar's diplomatic rounds in Tehran, Doha and Armenia over the past week. Officials said Vice President JD Vance has emerged as a key proponent of mediation to avert military escalation. Eurasia Group lowered the probability of renewed U.S. strikes on Iran from 65 to 60 percent, but also cut the likelihood of an agreement from 20 to 10 percent, while raising the chance of a continued standoff from 15 to 30 percent.
Hundreds of thousands strike across France over the cost of living
Hundreds of thousands of workers went on strike and marched across France on Thursday, demanding higher wages after weeks of protests over the cost of living.
The French interior ministry put turnout at about 600,000 people at nearly 200 demonstrations nationwide. Teachers, rail, hospital and postal workers walked out, and the Eiffel Tower was closed for the day. Most marches were peaceful, but police fired tear gas in Lyon and Paris.
Cabinet reshuffle talk grows after Republican losses in U.S. midterms
The Trump administration is facing growing uncertainty after the Republican Party's sweeping defeat in the U.S. midterm elections. Defense Secretary Pete Hegseth faces possible impeachment, while Secretary of State Marco Rubio is reportedly considering stepping down.
Although Trump has publicly ruled out an immediate Cabinet reshuffle, U.S. media reports say he has been privately consulting advisers on who should take responsibility for the losses. Hegseth emerged as a leading candidate to take the blame after Vice President JD Vance attributed the defeat to the ongoing war with Iran.
The House is expected to vote next week on articles of impeachment against Hegseth introduced by Republican Congressman Thomas Massie, a prominent Trump critic. Reports suggest the measure could pass with bipartisan support as some Republicans distance themselves from the defense secretary, though removing him would require a two-thirds majority in the Senate. Hegseth reportedly has no intention of resigning and plans to fight the proceedings. Rubio is also weighing his future, including leaving his roles as secretary of state and national security adviser, but has made no final decision.
Culture
Hanji, Korea's traditional paper, recommended for UNESCO recognition
Another Korean cultural practice is moving closer to UNESCO recognition after hanji paper-making was recommended for inscription on the Intangible Cultural Heritage list. The traditional technique of hand-scooping fibers from mulberry bark, known as dak, is considered the essence of the craft.
In Wonju, artisans are now in the fourth generation of a family carrying on the tradition and its tools. Hanji is also called baekji, meaning hundred-paper, reflecting the belief that a sheet takes 99 touches by the artisan and one final touch by the user, and is durable enough to last a thousand years. If approved, it will become the country's 24th UNESCO intangible heritage element.
UNESCO recognized not only the craftsmanship but the community practices and cultural knowledge surrounding production. Artisans have also promoted hanji culture through events, strengthening local identity and pride. The final decision will be made at the 21st session of the Intergovernmental Committee in Xiamen, China, from November 30 to December 5.
Wonju's 1,300-year-old ginkgo turns gold in autumn
As autumn foliage peaks, a ginkgo tree more than 1,300 years old in Bangye-ri, Wonju, has turned golden and is drawing visitors. Designated Natural Monument No. 167, the tree has an enormous crown that makes the people gathered beneath it look tiny.
When its leaves turn yellow, the ground offers another spectacle: a carpet of fallen leaves and a massive trunk that testify to how long the tree has stood there. Every autumn visitors flock to see it, and during the annual festival families gather, children play under the branches and photographers capture the golden scene. For many, it is not just a photo spot but a chance to experience a living piece of history.
In Seoul, too, the maple-lined path on Namsan, Yangjae Citizens' Forest and the road along Deoksugung show a mix of red, yellow and green, with aerial views turning the city's forests into a patchwork of color. In Korea, even an ordinary walk becomes a chance to enjoy the changing season.
BTS' Jimin ranks among Instagram's top five most influential figures
BTS member Jimin has again demonstrated his global popularity, ranking among the top five most influential figures on Instagram worldwide in October. According to influencer marketing platform HypeAuditor, Jimin placed fifth in its worldwide Instagram influence rankings as of November 5, despite a lack of regular uploads.
Jimin was the only Korean in the top five, holding the position for three consecutive months from August through October. With more than 60.64 million followers, his account ranks first in South Korea and third worldwide in the music category behind Taylor Swift and Selena Gomez.
Separately, NCT DREAM will hold a listening party in Seoul on November 7 ahead of its sixth studio album and a comeback livestream on November 9. Stray Kids member Lee Know will begin his mandatory military service in the first quarter of 2027, becoming the group's first member to enlist.