Latest news with #SejongUniversity
New Straits Times
2 days ago
- Business
- New Straits Times
The challenges facing South Korea's new leader Lee
SEOUL: South Korean President Lee Jae-myung assumes office with a bulging in-tray, from a deepening economic slump and global trade war to mounting concerns over military ties between nuclear-armed North Korea and Russia. And just hours after Lee took office, South Korea's crucial steel and aluminium exports are set to be hit by steep levies of 50 percent as part of US President Donald Trump's tariff bonanza. AFP takes a look at what Lee will have to deal with as president: Chief among Lee's priorities will be steering South Korea's export-dependent economy – Asia's fourth largest – through economic turmoil sparked by the tariffs Trump has imposed on US trading partners. "One of South Korea's major export items is aluminium and steel," Kim Dae-jong, a professor at Sejong University, told AFP, adding that the tariffs could worsen "the already sluggish domestic economy." South Korea was the fourth largest exporter of steel to the United States last year, accounting for 13 percent of its total steel imports. With the US doubling Wednesday its tariffs on imported aluminium and steel, Seoul will need to work quickly to shield its economy from the headwinds. Lee is seen by his supporters as a pragmatic and effective negotiator, with over a decade of experience as a city mayor and provincial governor. "Political leadership is crucial at times like this. And with an elected president, a phone call with Trump could improve the situation significantly," Kim added. On the campaign trail, Lee said Seoul needs to "start negotiations on tariffs immediately" with the Trump administration, but also stressed there was no need to "rush" a deal. Lee's Democratic Party has taken a relatively dovish approach to North Korea in the past, with former president Moon Jae-in holding several historic summits with Pyongyang's leader Kim Jong Un – and Trump. But Moon's efforts to normalise ties failed and the North has since bolstered relations with Russia, sent at least 14,000 troops to help Moscow's war in Ukraine, and declared the South its enemy state. Lee has hinted that he will take a different approach compared to hawkish Yoon, under whom inter-Korean ties fell to their worst point in years. On the campaign trail, Lee accused Yoon of deliberately provoking the North to justify his martial law bid – prompting backlash from conservatives. During Yoon's administration, North Korea blew up roads and railways connecting it to the South and erected what looked like walls near the border. "Wasn't it out of fear that the South might push up with tanks that North Korea built those tank barriers?" Lee said. Lee's tenure begins as South Korea finds itself in the middle of a growing superpower standoff between the United States, its traditional security guarantor, and China, its largest trade partner. US Secretary of Defense Pete Hegseth in May warned Beijing was "credibly preparing to potentially use military force to alter the balance of power in the Indo-Pacific." He called on US allies in Asia such as Seoul to boost their defences in the face of mounting threats. Lee, however, has suggested his country should pursue friendlier ties with Beijing, a long-time backer of Pyongyang. He drew backlash last year by saying he would say "xie xie" – thank you in Chinese – to both China and the self-ruled island of Taiwan in the event of a conflict involving the two. When asked during the campaign by TIME magazine whether he would come to Taiwan's aid if it were attacked by Beijing, Lee said: "I will think about that answer when aliens are about to invade the earth." Lee must also lead a nation still deeply divided and reeling from the political turmoil triggered by Yoon's martial law bid in December. If the new centre-left administration too aggressively goes after the conservatives, it will "only galvanise the far-rightists, ultimately undermining efforts to reduce political polarisation", Gi-Wook Shin, a sociology professor at Stanford University, told AFP. During the campaign, Lee said he would push to amend the constitution to make it harder to impose martial law. He also said it was necessary to launch a special investigation to identify those who may have been complicit with Yoon's bid to suspend civilian rule. Lee's administration will also have to deal with one of the world's lowest birth rates, a soaring cost of living and growing inequality. During the campaign, Lee said the younger generation's "sense of hopelessness" and deepening inequality were the main causes of South Korea's declining fertility rate. Many young South Koreans are not confident that "their children's lives will be any better than their own." Lee has pledged to create a shorter work week, extend the retirement age, expand state-led care services for children, people with disabilities and seniors, offer more housing options and increase support for small businesses and young South Koreans, among others.
Time of India
03-05-2025
- Entertainment
- Time of India
Heart Signal Season 3's Seo Min Jae reveals pregnancy amid claims boyfriend ghosted her: 'His family pressured her to get abortion"
Earlier this week, popular Heart Signal Season 3 cast member Seo Min Jae, also known by her stage name Seo Eun Woo, shocked fans with an announcement that she is expecting a baby with her boyfriend, Jung Rae Sung. The Instagram posts showcasing her ultrasound photos and intimate couple moments surprised many, as Seo Min Jae shared the exciting news with her followers. Despite her past struggles, including a high-profile and troubled relationship with former WINNER member Nam Taehyun, many of her fans were quick to congratulate her for embarking on this new chapter of her life. However, what seemed like a straightforward moment of joy quickly spiraled into controversy and speculation. After Seo Min Jae's posts, attention was drawn to Jung Rae Sung's social media presence. His Instagram account, @rs__o.o, was mysteriously wiped clean, which immediately raised suspicions. But it was an anonymous post on an online forum that really sent the rumour mill into overdrive. Seo Min Jae's cryptic post on her pregnancy Seo Min Jae's pregnancy announcement came with a cryptic message that left the internet stunned. She also took a moment to address circulating rumors about her boyfriend's age, clarifying that he's not 'some 20-year-old,' but actually a mature 27-year-old. The post also featured an ultrasound image along with several affectionate photos of her and her boyfriend. The caption of the post read, "Jung Rae Sung, congratulations on becoming a dad. + There have been a lot of guesses about Rae Sung's age, but he's not 20 years old. He's Class of 2020 at Sejong University and was born in 1997. Thank you for the congratulations." After announcing her pregnancy, Seo Min Jae shared several photos with her boyfriend, capturing everything from romantic dates to intimate moments together. Jung Rae Sung 'ghosted' Seo Min Jae after pregnancy Following Seo's pregnancy announcement, an anonymous social media post went viral. The post in question suggested that Jung Rae Sung had allegedly 'ghosted' Seo Min Jae after learning about her pregnancy, supposedly because his parents opposed their relationship, citing her controversial past involving drugs. The post hinted that Jung Rae Sung's family may have been uncomfortable with Seo Min Jae's history, leading to a rift in the relationship. "Seo Min Jae's new boyfriend's father is a high-ranking executive at a major corporation, and the family is filthy rich." The father opposed the marriage because Seo Min Jae did drugs. He supposedly told his son to marry a woman from a good family," the anonymous source said. "I know the guy. His parents were against the relationship because of Seo Min Jae's history with drug use, and they told him to marry someone from a similar background—someone from a 'respectable family.' They also apparently told her to get an abortion," the source added. Seo Min Jae's tumultuous past Seo Min Jae's past has always been a subject of public scrutiny, particularly after her highly publicized breakup with Nam Taehyun, which played out in the media. This new drama only adds to the ongoing interest in her personal life, with many wondering how much of the information circulating is true and how much is simply fuel for gossip. As of now, neither Seo Min Jae nor Jung Rae Sung has addressed the allegations publicly. While the Instagram account wipe and the anonymous online post have only added fuel to the fire, it remains unclear whether her boyfriend is actually the person described by the anonymous source. For all the latest K-drama, K-pop, and Hallyuwood updates, keep following our coverage here.
CNA
24-04-2025
- Business
- CNA
South Korea's economy shrinks in first quarter as trade war hits exports
The country's economy expanded 1.3 per cent in the first quarter of last year but grew less than expected in the fourth quarter, as the fallout from Yoon's declaration of martial law hit consumer confidence and domestic demand. According to the Korea Customs Service, as of mid-April, the country's exports had dropped by more than 5 per cent compared to the previous year, with declines reported in nine out of the country's ten major export categories excluding semiconductors. The sharpest fall was in exports to the United States, which fell by more than 14 per cent. This week, the International Monetary Fund sharply revised down its growth forecast for South Korea this year, cutting it from 2 per cent to 1 per cent. "The South Korean economy is facing structural burdens of high inflation and a weak won-dollar exchange rate, and under this dual pressure, a slowdown in growth is becoming increasingly evident," Kim Dae-jong, a professor at Sejong University, told AFP. Last week, Bank of Korea governor Rhee Chang-yong said the country's annual growth rate is now "expected to fall short of the 1.5 per cent forecast made in February". "The tightening of tariff policies, which is much stronger than initially projected, will likely further weigh on growth prospects," he told reporters in a press conference. He added that "political uncertainty has dragged on longer than expected, delaying the recovery of economic sentiment." Sluggish domestic demand, along with factors such as large-scale wildfires which tore through swaths of the country's southeast in late March, had also contributed to the downturn, Rhee said.
Korea Herald
03-04-2025
- Automotive
- Korea Herald
S. Korean chip industry wary despite exemption from US reciprocal tariff
With US President Donald Trump's announcement of a 25 percent tariff on South Korean imports, South Korea's semiconductor industry let out a sigh of relief Thursday for being excluded but remained cautious as sector-specific tariffs loomed near. The White House on Wednesday said some goods, including semiconductors, steel and automobiles, would not be subject to the new tariff plans, imposing a minimum 10 percent "baseline" tariff on exports from all countries to the United States and country-specific "reciprocal" tariffs that include 25 percent duties for South Korea. Industry officials remained vigilant as the US administration has signaled separate sector-specific duties for those items. South Korea's leading chipmakers, Samsung Electronics Co. and SK hynix Inc., have not issued official statements, but they are actively discussing strategies to mitigate risks from any future trade policies. "There are still uncertainties," said an official from a South Korean semiconductor company, who asked not to be identified. "The global semiconductor value chain is highly complex, and major US tech companies play a central role. The US government may need more time to picture details." Already, 25 percent tariffs on imported cars and key auto parts were set to take effect Thursday, potentially impacting all related industries. Experts suggest that South Korean firms may need to strengthen their US production strategies to align with Trump's push for domestic job creation. "Trump continues to pressure foreign companies to establish manufacturing facilities in the United States and create jobs," said Kim Dae-jong, a professor at Sejong University. Adding to concerns, Trump's has also expressed skepticism toward providing subsidies under the US CHIPS Act. Samsung Electronics signed a deal last year to receive a $4.7 billion subsidy from the US Department of Commerce for its $37 billion investment in Texas, while SK hynix is set to receive $458 million in subsidies for its investment in Indiana, both under the CHIPS Act. (Yonhap)
Korea Herald
27-03-2025
- Business
- Korea Herald
Sejong University ranks 29th globally in hotel management
Sejong University ranked No. 29 globally for its hotel management education in the 2025 QS World University Rankings by Subject in the hospitality and leisure management category, announced by a United Kingdom-based global university evaluation agency, Quacquarelli Symonds. According to Sejong University, the university's hospitality and tourism management program climbed 14 ranks higher than its ranking from 2024. The university has also maintained the lead among Korean universities since 2021. Sejong entered the global ranking list in 14 other academic categories, including the addition of its name to economics. By subject, the university ranked No. 190 in computer science, 151-200 in geophysics, 201-250 in environmental sciences, 251-300 in physics and astronomy, electrical and electronic engineering as well as mechanical engineering, 301-350 in materials sciences, 351-400 in business and management, 451-500 in chemistry, 551-600 in biological sciences and 701-850 in medicine. The newly added subject, economics, ranked 551-700. In domestic rankings, Sejong placed in the top 10 in eight subject areas including hospitality and tourism management, geophysics, environmental science, structural and civil engineering, computer science, math, physics as well as business and management. 'Sejong University has consistently worked to strengthen its global competitiveness across a range of academic fields, including hospitality and tourism management,' said Eom Jong-hwa, president of Sejong University. 'These continued efforts have led to promising results in global university rankings. We will continue to provide world-class education and research to nurture global leaders.' This year's edition of the QS World University Rankings featured 1,747 institutions worldwide based on five indicators: academic reputation, employer reputation, citations per paper, international research network and H-index citations -- a scholarly metric that measures the productivity and impact of a published paper.
