Latest news with #SouthKoreans
Straits Times
4 hours ago
- Politics
- Straits Times
South Korean presidential front runner Lee proposes revising constitution on martial law
Lee Jae-myung, leader of the main opposition Democratic Party, speaks during 2024 New Year's press conference at National Assembly in Seoul, South Korea, on Jan 31, 2024. PHOTO: REUTERS SEOUL - South Korea's left-wing presidential front runner Lee Jae-myung proposed on May 30 to amend the constitution to make it more difficult to impose martial law, aiming to prevent political crises like the one that erupted in 2024. As candidates entered their final stretch before the snap presidential election on June 3, Lee and his Democratic Party urged South Koreans to come out to vote to end the political turmoil that has gripped the country since ousted conservative leader Yoon Suk Yeol's short-lived martial law declaration in December. "Our national prestige has fallen, but it (martial law) happens. We have to make that impossible systematically," Lee told a live-streaming talkshow on YouTube. 'Overcoming the insurrection (crisis) is no-brainer. Without it, our country will collapse,' he said, adding that economic growth and unity would be among his other top priorities. Lee said he would seek to revise the constitution to strengthen martial law requirements, for instance by not allowing leaders to implement martial law without getting Parliament's approval within 24 hours. More South Koreans turned out for early voting on May 30 after reaching record numbers a day earlier. Early voting ends at 6pm on May 30. As of noon on May 30, 25.8 per cent of eligible voters had voted, the highest turnout compared to other polls in the same period. Lee also said a special prosecutor should investigate the Dec 3 martial law incident to make sure those responsible were punished, although he called for leniency for those in the military who were reluctant to follow orders. The Democratic Party's election campaign chair Yoon Yeo-jun said that the vote would be an opportunity to set the country right so that the 'Yoon Suk Yeol tragedy would never happen again'. Mr Kim Moon-soo, Lee's rival candidate from the conservative People Power Party, said he would stop 'legislative dictatorship' by Lee's Democratic Party that holds a majority in Parliament. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
The Star
4 hours ago
- Politics
- The Star
South Korean presidential frontrunner proposes revising constitution on martial law
FILE PHOTO: Lee Jae-myung, leader of the main opposition Democratic Party, speaks during 2024 New Year's press conference at National Assembly in Seoul, South Korea, 31 January 2024. JEON HEON-KYUN/Pool via REUTERS/File Photo SEOUL (Reuters) -South Korea's left-wing presidential frontrunner Lee Jae-myung proposed on Friday to amend the constitution to make it more difficult to impose martial law, aiming to prevent political crises like the one that erupted last year. As candidates entered their final stretch before the snap presidential election on June 3, Lee and his Democratic Party urged South Koreans to come out to vote to end the political turmoil that has gripped the country since ousted conservative leader Yoon Suk Yeol's short-lived martial law declaration in December. "Our national prestige has fallen, but it (martial law) happens. We have to make that impossible systematically," Lee told a live-streaming talkshow on YouTube. "Overcoming the insurrection (crisis) is no-brainer. Without it, our country will collapse," Lee said, adding that economic growth and unity would be among his other top priorities. Lee said he would seek to revise the constitution to strengthen martial law requirements, for instance by not allowing leaders to implement martial law without getting parliament's approval within 24 hours. More South Koreans turned out for early voting on Friday after reaching record numbers on Thursday. Early voting ends at 6 p.m. (0900 GMT) on Friday. As of noon on Friday, 25.8% of eligible voters had voted, the highest turnout compared to other polls in the same period. Lee also said a special prosecutor should investigate the December 3 martial law incident to make sure those responsible were punished, although he called for leniency for those in the military who were reluctant to follow orders. Yoon Yeo-jun, chair of the Democratic Party's election campaign, said that the vote would be an opportunity to set the country right so that the "Yoon Suk Yeol tragedy would never happen again." Kim Moon-soo, Lee's rival candidate from the conservative People Power Party, said he would stop "legislative dictatorship" by Lee's Democratic Party that holds a majority in parliament. (Reporting by Ju-min Park; Editing by Stephen Coates)
CNBC
4 hours ago
- Business
- CNBC
South Korea's Hybe opens China office amid hopes of a K-pop reversal from Beijing
South Korea's largest K-pop agency Hybe has established its first office in China — amid signs that Beijing is lifting its unofficial ban on K-pop shows. The agency behind global sensation BTS has been preparing to establish itself in China since last year, a Hybe official said recently. Hybe's China office — launched on April 2 and announced on Thursday — is its fourth overseas branch. But while the agency has launched local groups such as &Team in Japan and Katseye in the United States, it has no plans to debut rookie teams in China, according to South Korean state media KBS. There have been indications that Beijing might be softening its stance on K-pop in the face of weak domestic consumption and stalled trade talks with China. And in another sign of thawing relations, China announced its decision to waive visas for South Koreans last November. South Korea followed suit in March 2025 with its plans to offer a visa exemption to Chinese visitors in the third quarter. Even more recently and on the K-pop front, Hybe announced plans to sell its entire stake in SM Entertainment to China's Tencent Music. The move is a testament to a strengthening relationship between Tencent and major K-pop companies, Junhyun Kim, a Korea internet gaming and entertainment research analyst at HSBC, said in a recent note. If K-pop becomes more widely recognized in China, Kim said, he expects there will be increased use of fan platforms like Hybe's Weverse and Dear U Bubble, which are messaging platforms between fans and artists. But the path to a K-pop comeback in China won't necessarily be smooth. K-pop group Epex canceled a concert in Fuzhou that was scheduled for May 31, citing "issues in the local region." The performance would have been the first concert by an all-Korean idol group in mainland China since 2016. Hybe's shares fell 1.47% in Friday trading hours. With other industries under pressure from tariffs, a U-turn from China on its unofficial K-pop ban could inject fresh momentum into South Korea's entertainment industry. "In contrast with semiconductors or autos, where global trade policy directly impacts supply chains and pricing, K-pop consumption is far less sensitive to protectionist measures," Shinhan Securities said in a note in April. "Core revenue drivers—streaming, concerts, and fan content—are digital and intangible, making them immune to cross-border tariffs," CGS said, adding that even if fans buy albums and merchandise, tariff exposure is "negligible," given low unit prices and loyal fan demand.
Straits Times
4 hours ago
- Politics
- Straits Times
South Korean presidential frontrunner proposes revising constitution on martial law
FILE PHOTO: Lee Jae-myung, leader of the main opposition Democratic Party, speaks during 2024 New Year's press conference at National Assembly in Seoul, South Korea, 31 January 2024. JEON HEON-KYUN/Pool via REUTERS/File Photo SEOUL - South Korea's left-wing presidential frontrunner Lee Jae-myung proposed on Friday to amend the constitution to make it more difficult to impose martial law, aiming to prevent political crises like the one that erupted last year. As candidates entered their final stretch before the snap presidential election on June 3, Lee and his Democratic Party urged South Koreans to come out to vote to end the political turmoil that has gripped the country since ousted conservative leader Yoon Suk Yeol's short-lived martial law declaration in December. "Our national prestige has fallen, but it (martial law) happens. We have to make that impossible systematically," Lee told a live-streaming talkshow on YouTube. "Overcoming the insurrection (crisis) is no-brainer. Without it, our country will collapse," Lee said, adding that economic growth and unity would be among his other top priorities. Lee said he would seek to revise the constitution to strengthen martial law requirements, for instance by not allowing leaders to implement martial law without getting parliament's approval within 24 hours. More South Koreans turned out for early voting on Friday after reaching record numbers on Thursday. Early voting ends at 6 p.m. (0900 GMT) on Friday. As of noon on Friday, 25.8% of eligible voters had voted, the highest turnout compared to other polls in the same period. Lee also said a special prosecutor should investigate the December 3 martial law incident to make sure those responsible were punished, although he called for leniency for those in the military who were reluctant to follow orders. Yoon Yeo-jun, chair of the Democratic Party's election campaign, said that the vote would be an opportunity to set the country right so that the "Yoon Suk Yeol tragedy would never happen again." Kim Moon-soo, Lee's rival candidate from the conservative People Power Party, said he would stop "legislative dictatorship" by Lee's Democratic Party that holds a majority in parliament. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Korea Herald
4 hours ago
- Business
- Korea Herald
Chinese homeownership continues to rise in S. Korea, prompts bill to limit purchases
Chinese ownership of homes in South Korea continues to rise, accounting for the majority of properties owned by foreigners here, new government data shows. According to data released Friday by the Land Ministry, the number of foreign-owned homes exceeded 100,000 for the first time. As of December last year, the total stood at 100,216, up 5,158 from six months earlier. Foreign ownership accounted for 0.52 percent of all homes nationwide. The number of individual foreigners who owned homes was 98,581. By nationality, Chinese nationals owned the most homes at 56,302, representing 56.2 percent of all foreign-owned homes. This marks a steady rise from 44,889 homes, or 53.8 percent, two years earlier. Americans followed with 22,031 homes, or 22 percent, and Canadians with 6,315 homes, or 6.3 percent. About 72.7 percent of foreign-owned homes were located in Greater Seoul. Gyeonggi Province had the highest number with 39,144 homes, or 39.1 percent, followed by Seoul with 23,741 homes (23.7 percent) and Incheon with 9,983 (10 percent). By city, Bucheon in Gyeonggi Province topped the list with 5,203 foreign-owned homes, followed by Ansan (5,033), Suwon (3,429) and Pyeongtaek (2,984), all of which are in the same province. Amid the rise in foreign homeownership, Rep. Koh Dong-jin this week proposed a bill to introduce a land transaction permit system for foreigners in the Seoul metropolitan area and to apply the principle of reciprocity when foreigners purchase land in Korea. While Chinese nationals face few hurdles in buying land and apartment complexes in Korea, South Koreans are barred from purchasing land in China. For homes, they must reside in China for more than a year before becoming eligible to buy property.
