South Korean Think Tank Halves 2025 Growth Forecast to 0.8%
A South Korean state-funded think tank slashed its outlook for the country's growth this year, reflecting the fallout from Donald Trump's tariff campaign on the trade-reliant nation as its presidential race hits full swing.
The Korea Development Institute now sees the country's economy growing 0.8% in 2025 after expanding 2% last year, it said in its semiannual economic outlook released on Wednesday. The projection is down from February's forecast of 1.6% and underscores the pressing economic challenges South Korea faces as voters prepare to elect their new leader on June 3.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
TechCrunch
43 minutes ago
- TechCrunch
Week in Review: Why Anthropic cut access to Windsurf
Welcome back to Week in Review! Got lots for you today, including why Windsurf lost access to Claude, ChatGPT's new features, WWDC 2025, Elon Musk's fight with Donald Trump, and lots more. Have a great weekend! Duh: During an interview at TC Sessions: AI 2025, Anthropic's co-founder had a perfectly reasonable explanation for why the company cut access to Windsurf: 'I think it would be odd for us to be selling Claude to OpenAI,' Chief Science Officer Jared Kaplan said, referring to rumors and reports that OpenAI, its largest competitor, is acquiring the AI coding assistant. Seems like a good reason to me! Everything is the same: Chinese lab DeepSeek released an updated version of its R1 reasoning AI model last week that performs well on a number of math and coding benchmarks. Now some AI researchers are speculating that at least some of the source data it trained on came from Google's Gemini family of AI. WWDC 2025: Apple's annual developers conference starts Monday. Beyond a newly designed operating system, here's what we're expecting to see at this year's event, including a dedicated gaming app and updates to Mac, Watch, TV, and more. This is TechCrunch's Week in Review, where we recap the week's biggest news. Want this delivered as a newsletter to your inbox every Saturday? Sign up here. News Image Credits:Thomas Fuller / SOPA Images / LightRocket / Getty Images Business in the front: ChatGPT is getting new features for business users, including connectors for Dropbox, Box, SharePoint, OneDrive, and Google Drive. This would let ChatGPT look for information across your own services to answer questions. Oh no: Indian grocery delivery startup KiranaPro was hacked, and all of its data was wiped. According to the company, it has 55,000 customers, with 30,000 to 35,000 active buyers across 50 cities, who collectively place 2,000 orders daily. Techcrunch event Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW Artsy people, rejoice! Photoshop is now coming to Android, so users of Google's operating system can gussy up their images, too. The app has a similar set of editing tools as the desktop version, including layering and masking. Let's try that again: Tesla filed new trademark applications for 'Tesla Robotaxi' after previous attempts to trademark the terms 'Robotaxi' and 'Cybercab' failed. Rolling in dough: Tech startup Anduril just picked up a $1 billion investment as part of a new $2.5 billion raise led by Founders Fund, which means Anduril has doubled its valuation to $30.5 billion. On the road again: When Toma's founders realized car dealerships were drowning in missed calls, they hit the road to see the problem firsthand. That summer road trip turned into a $17 million a16z-backed fundraise that helped Toma get its AI phone agents into more than 100 dealerships across the U.S. Fighting season: All gloves were off on Thursday as Elon Musk and President Trump took to their respective social networks to throw jabs at each other. Though it might be exciting to watch rich men squabble in public, the fallout between the world's richest person and a sitting U.S. president promises to have broader implications for the tech industry. Analysis Image Credits:BlackJack3D / Getty Images Money talks: Whether you use AI as a friend, a therapist, or even a girlfriend, chatbots are trained to keep you talking. For Big Tech companies, it's never been more competitive to attract users to their chatbot platforms — and keep them there.
Yahoo
44 minutes ago
- Yahoo
AVAX Jumps 6% as Trump-Musk Tensions Fade and Institutional Momentum Builds
Avalanche's native token AVAX surged more than 6% in the last 24 hours, outpacing the broader crypto market as measured by the CoinDesk 20 (CD20) index, which rose 0.8% in the same price may have rebounded from political jitters and moved on the back of major developments in real-world asset (RWA) tokenization and institutional token climbed from a low of $19.37 to $20.96, recovering from a wider market sell-off triggered by growing tensions between U.S. President Donald Trump and Tesla CEO Elon Musk earlier this week, which saw the former threaten to terminate government contracts for the latter, who in turn accused the president of being implicated in the Jeffrey Epstein token rebounded after showing multiple signs of bullish momentum, according to CoinDesk's Research's technical analysis data model, which shows AVAX established a strong footing around $19.40 that was confirmed by volume exceeding the 24-hour simple moving further rose around the time of AVAX's breakout last the $20 mark, showing strength in the move. The token has now formed short-term resistance near $21 and support at $20.81, the model the stronger-than-average rebound may not just be technical. Last month, FIFA announced it chose Avalanche to power its FIFA blockchain network, with plans to migrate its existing non-fungible token (NFT) collection from Algorand and Polygon into the new network and to build out new fan momentum added another leg. Asset manager VanEck is expected to roll out a $100 million PurposeBuilt Fund this month after first announcing it on May 21, focused exclusively on projects within the Avalanche fund will back tokens and businesses in gaming, finance, and AI, while deploying idle capital into on-chain real-world asset products like tokenized money price still faces technical resistance near $24.80, but the combination of institutional activity, on-chain RWA growth, and network usage from high-profile partners like FIFA could help AVAX stay ahead of broader market volatility through June. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Elon Musk Deletes Anti-Trump Posts From X – Including One Claiming the President Is in the Epstein Files
Elon Musk deleted several posts from his social media feud with Donald Trump, including one in which the former DOGE chief claimed the president will not release the Epstein Files because his name is on the list. 'Time to drop the really big bomb: @realDonaldTrump is in the Epstein files,' Musk said in his X post, deleted sometime Friday night. 'That is the real reason they have not been made public. Have a nice day, DJT!' Musk wrote on X on Thursday. 'Mark this post for the future. The truth will come out,' Musk added. Musk deleted both posts along with another in which he responded 'yes' to a message that read 'Trump should be impeached' and JD Vance should 'replace him.' Musk did not offer any evidence to support his claim, nor did he provide any explanation for why the posts were deleted. The messages were part of an extremely public dispute between the two men, who were only recently — within this calendar year — friends united under the banner of Musk's Department of Government Efficiency (DOGE). Musk has also claimed Trump could not have won the 2024 election without him (that one is still publicly available). 'Elon and I had a great relationship. I don't know if we will anymore,' Trump told White House reporters Thursday. 'I'm very disappointed in Elon. I've helped Elon a lot.' Trump also said he would have won the election with or without Musk. Musk has further taken issue with Trump's planned Big, Beautiful Bill. Trump has suggested the tech entrepreneur is upset because of the proposed cutting of the federal electric vehicle tax credit. 'Elon knew the inner workings of this bill better than almost anybody sitting here,' Trump said of Musk. 'He only developed [a] problem when he found out that we're going to have to cut the EV mandate.' The post Elon Musk Deletes Anti-Trump Posts From X – Including One Claiming the President Is in the Epstein Files appeared first on TheWrap.
