Latest news with #SouthKoreans'
Yomiuri Shimbun
3 days ago
- Politics
- Yomiuri Shimbun
China Displaces Old Foe Japan in South Koreans' Minds Ahead of Vote
Ichiro Ohara / The Yomiuri Shimbun Citizens gather for a rally in Seoul on Saturday. SEOUL(AFP-Jiji) — Shops selling steaming snacks line the streets of Seoul's Daerim neighbourhood, home to thousands of ethnic Chinese, some feeling the pressure from mounting anti-Beijing sentiment ahead of South Korea's election. China has displaced longtime foe and former colonial power Japan in many South Koreans' minds as the country's most distrusted neighbour in recent years. And ahead of Tuesday's vote, anti-Chinese feeling has spread among South Koreans — online, at right-wing rallies and in Seoul's Chinatown. Many of the quarter's Chinese residents, such as 74-year-old Yu Shunzi, flocked to South Korea seeking economic opportunities in the 1990s and 2000s. 'A lot of Koreans still think China is a very backward country and discriminate against Chinese a lot,' she told AFP. Yu, who arrived in 2007 from the northeastern Chinese province of Heilongjiang, said the situation is so bad that she planned to move back when the economy allowed. 'I want to go home, but with the exchange rate being this low, I'd lose a lot of money,' she said. While former colonial master Japan has long had a difficult relationship with South Korea, Seoul's ties with China have increasingly come under the spotlight. In 2022, polling conducted by Hankook Research showed for the first time that South Koreans distrusted China more than they did Japan — a trend that has continued in recent years. 'No affinity' towards China Former leader Yoon Suk Yeol referred to vague allegations of Chinese spying when he tried to justify his declaration of martial law, which led to his ousting. Conspiracy theories have since run rampant among the South Korean right, fuelling the distrust. But analysts also say that a series of clashes between Beijing and Seoul in recent years over history, territory and defence are the deeper cause of the schism. 'China's growing assertiveness is the main reason behind South Korea's negative views about the country,' said Ramon Pacheco Pardo from King's College London. 'Most South Koreans have no affinity towards today's China,' the international relations professor told AFP. Seoul has long trodden a fine line between top trading partner China and defence guarantor the United States. Relations with China nosedived in 2016 following the South's decision to deploy the US-made THAAD missile defence system. Beijing saw it as a threat to its own security and reacted furiously, imposing a string of restrictions on South Korean businesses and banning group tours as part of sweeping economic retaliation. A series of public spats about the origins of Korean cultural staples such as kimchi, which China had claimed as its own, also left a bitter taste. Yoon's administration deepened that divide, cleaving close to the United States and seeking to improve ties with Japan. 'Under his leadership, Seoul made its position unmistakably clear: it stood with Washington and its allies, not Beijing,' Claudia Kim, assistant professor at City University of Hong Kong, told AFP. Opposition leader and election frontrunner Lee Jae-myung has publicly hinted that a softer line might be in the works if he wins. Beijing won't 'miss the opportunity to improve relations with the South' if Lee wins, Cheong Seong-chang at Seoul's Sejong Institute told AFP, suggesting a visit by Chinese President Xi Jinping could even take place. Lee has also raised alarm bells by saying that a future conflict between China and Taiwan would not be South Korea's concern. That could put him on a collision course with the administration of U.S. President Donald Trump, which has made containing China a cornerstone of its bid to reshape the international order. 'Trump's focus on deterring China may lead to a mismatch of foreign policy priorities with Lee,' Edward Howell, a lecturer in politics at the University of Oxford, told AFP. Fake news thrives Compounding deepening distrust of China has been a surge of conspiracy theories. Analysis by AFP revealed many of the most widely-circulated pieces of misinformation tap into fears of meddling by China. Rallies in support of ex-president Yoon have featured calls to oust alleged 'pro-Chinese Communist Party' forces, as well as posters with anti-Chinese slurs and slogans advocating for Chinese nationals to be deported. A recent editorial in Beijing's state-run nationalist tabloid Global Times condemned 'far-right' forces in South Korea for 'stirring up xenophobia' against Chinese people. In Seoul's Chinatown, Li Jinzi, 73, complained about a culture of 'misinformation' that was breeding negative feelings towards her home country. 'Fake news breeds misunderstandings,' she said.
Straits Times
3 days ago
- Politics
- Straits Times
China displaces old foe Japan in South Koreans' minds ahead of vote
Ahead of June 3's vote, anti-Chinese feeling has spread among South Koreans – online, at right-wing rallies and in Seoul's Chinatown. PHOTO: AFP China displaces old foe Japan in South Koreans' minds ahead of vote SEOUL - Shops selling steaming snacks line the streets of Seoul's Daerim neighbourhood, home to thousands of ethnic Chinese, some feeling the pressure from mounting anti-Beijing sentiment ahead of South Korea's election. China has displaced longtime foe and former colonial power Japan in many South Koreans' minds as the country's most distrusted neighbour in recent years. And ahead of June 3's vote, anti-Chinese feeling has spread among South Koreans – online, at right-wing rallies and in Seoul's Chinatown. Many of the quarter's Chinese residents, such as 74-year-old Yu Shunzi, flocked to South Korea seeking economic opportunities in the 1990s and 2000s. 'A lot of Koreans still think China is a very backward country and discriminate against Chinese a lot,' she told AFP. Ms Yu, who arrived in 2007 from the north-eastern Chinese province of Heilongjiang, said the situation is so bad that she planned to move back when the economy allowed. 'I want to go home, but with the exchange rate being this low, I'd lose a lot of money,' she said. While former colonial master Japan has long had a difficult relationship with South Korea, Seoul's ties with China have increasingly come under the spotlight. In 2022, polling conducted by Hankook Research showed for the first time that South Koreans distrusted China more than they did Japan – a trend that has continued in recent years. Former leader Yoon Suk Yeol referred to vague allegations of Chinese spying when he tried to justify his declaration of martial law, which led to his ousting. Conspiracy theories have since run rampant among the South Korean right, fuelling the distrust. But analysts also say that a series of clashes between Beijing and Seoul in recent years over history, territory and defence are the deeper cause of the schism. 'China's growing assertiveness is the main reason behind South Korea's negative views about the country,' said Professor Ramon Pacheco Pardo from King's College London. 'Most South Koreans have no affinity towards today's China,' the international relations professor told AFP. Seoul has long trodden a fine line between top trading partner China and defence guarantor the United States. Relations with China nosedived in 2016 following the South's decision to deploy the US-made Thaad missile defence system. Beijing saw it as a threat to its own security and reacted furiously, imposing a string of restrictions on South Korean businesses and banning group tours as part of sweeping economic retaliation. A series of public spats about the origins of Korean cultural staples such as kimchi, which China had claimed as its own, also left a bitter taste. Yoon's administration deepened that divide, cleaving close to the United States and seeking to improve ties with Japan. 'Under his leadership, Seoul made its position unmistakably clear: it stood with Washington and its allies, not Beijing,' Assistant Professor Claudia Kim from City University of Hong Kong told AFP. Opposition leader and election frontrunner Lee Jae-myung has publicly hinted that a softer line might be in the works if he wins. Beijing won't 'miss the opportunity to improve relations with the South' if Lee wins, Dr Cheong Seong-chang at Seoul's Sejong Institute told AFP, suggesting a visit by Chinese President Xi Jinping could even take place. Lee has also raised alarm bells by saying that a future conflict between China and Taiwan would not be South Korea's concern. That could put him on a collision course with the administration of US President Donald Trump, which has made containing China a cornerstone of its bid to reshape the international order. 'Trump's focus on deterring China may lead to a mismatch of foreign policy priorities with Lee,' Dr Edward Howell, a lecturer in politics at the University of Oxford, told AFP. People visiting a market in Seoul's Daerim neighbourhood, home to thousands of ethnic Chinese. PHOTO: AFP Fake news thrives Compounding deepening distrust of China has been a surge of conspiracy theories. Analysis by AFP revealed many of the most widely-circulated pieces of misinformation tap into fears of meddling by China. Rallies in support of ex-president Yoon have featured calls to oust alleged 'pro-Chinese Communist Party' forces, as well as posters with anti-Chinese slurs and slogans advocating for Chinese nationals to be deported. A recent editorial in Beijing's state-run nationalist tabloid Global Times condemned 'far-right' forces in South Korea for 'stirring up xenophobia' against Chinese people. In Seoul's Chinatown, Ms Li Jinzi, 73, complained about a culture of 'misinformation' that was breeding negative feelings towards her home country. 'Fake news breeds misunderstandings,' she said. AFP Join ST's Telegram channel and get the latest breaking news delivered to you.
The Sun
3 days ago
- Politics
- The Sun
China displaces old foe Japan in South Koreans' minds ahead of vote
SEOUL: Shops selling steaming snacks line the streets of Seoul's Daerim neighbourhood, home to thousands of ethnic Chinese, some feeling the pressure from mounting anti-Beijing sentiment ahead of South Korea's election. China has displaced longtime foe and former colonial power Japan in many South Koreans' minds as the country's most distrusted neighbour in recent years. And ahead of Tuesday's vote, anti-Chinese feeling has spread among South Koreans -- online, at right-wing rallies and in Seoul's Chinatown. Many of the quarter's Chinese residents, such as 74-year-old Yu Shunzi, flocked to South Korea seeking economic opportunities in the 1990s and 2000s. 'A lot of Koreans still think China is a very backward country and discriminate against Chinese a lot,' she told AFP. Yu, who arrived in 2007 from the northeastern Chinese province of Heilongjiang, said the situation is so bad that she planned to move back when the economy allowed. 'I want to go home, but with the exchange rate being this low, I'd lose a lot of money,' she said. While former colonial master Japan has long had a difficult relationship with South Korea, Seoul's ties with China have increasingly come under the spotlight. In 2022, polling conducted by Hankook Research showed for the first time that South Koreans distrusted China more than they did Japan -- a trend that has continued in recent years. - 'No affinity' towards China - Former leader Yoon Suk Yeol referred to vague allegations of Chinese spying when he tried to justify his declaration of martial law, which led to his ousting. Conspiracy theories have since run rampant among the South Korean right, fuelling the distrust. But analysts also say that a series of clashes between Beijing and Seoul in recent years over history, territory and defence are the deeper cause of the schism. 'China's growing assertiveness is the main reason behind South Korea's negative views about the country,' said Ramon Pacheco Pardo from King's College London. 'Most South Koreans have no affinity towards today's China,' the international relations professor told AFP. Seoul has long trodden a fine line between top trading partner China and defence guarantor the United States. Relations with China nosedived in 2016 following the South's decision to deploy the US-made THAAD missile defence system. Beijing saw it as a threat to its own security and reacted furiously, imposing a string of restrictions on South Korean businesses and banning group tours as part of sweeping economic retaliation. A series of public spats about the origins of Korean cultural staples such as kimchi, which China had claimed as its own, also left a bitter taste. Yoon's administration deepened that divide, cleaving close to the United States and seeking to improve ties with Japan. 'Under his leadership, Seoul made its position unmistakably clear: it stood with Washington and its allies, not Beijing,' Claudia Kim, assistant professor at City University of Hong Kong, told AFP. Opposition leader and election frontrunner Lee Jae-myung has publicly hinted that a softer line might be in the works if he wins. Beijing won't 'miss the opportunity to improve relations with the South' if Lee wins, Cheong Seong-chang at Seoul's Sejong Institute told AFP, suggesting a visit by Chinese President Xi Jinping could even take place. Lee has also raised alarm bells by saying that a future conflict between China and Taiwan would not be South Korea's concern. That could put him on a collision course with the administration of US President Donald Trump, which has made containing China a cornerstone of its bid to reshape the international order. 'Trump's focus on deterring China may lead to a mismatch of foreign policy priorities with Lee,' Edward Howell, a lecturer in politics at the University of Oxford, told AFP. - Fake news thrives - Compounding deepening distrust of China has been a surge of conspiracy theories. Analysis by AFP revealed many of the most widely-circulated pieces of misinformation tap into fears of meddling by China. Rallies in support of ex-president Yoon have featured calls to oust alleged 'pro-Chinese Communist Party' forces, as well as posters with anti-Chinese slurs and slogans advocating for Chinese nationals to be deported. A recent editorial in Beijing's state-run nationalist tabloid Global Times condemned 'far-right' forces in South Korea for 'stirring up xenophobia' against Chinese people. In Seoul's Chinatown, Li Jinzi, 73, complained about a culture of 'misinformation' that was breeding negative feelings towards her home country.
The Sun
3 days ago
- Politics
- The Sun
China displaces Japan in South Koreans' minds ahead of vote
SEOUL: Shops selling steaming snacks line the streets of Seoul's Daerim neighbourhood, home to thousands of ethnic Chinese, some feeling the pressure from mounting anti-Beijing sentiment ahead of South Korea's election. China has displaced longtime foe and former colonial power Japan in many South Koreans' minds as the country's most distrusted neighbour in recent years. And ahead of Tuesday's vote, anti-Chinese feeling has spread among South Koreans -- online, at right-wing rallies and in Seoul's Chinatown. Many of the quarter's Chinese residents, such as 74-year-old Yu Shunzi, flocked to South Korea seeking economic opportunities in the 1990s and 2000s. 'A lot of Koreans still think China is a very backward country and discriminate against Chinese a lot,' she told AFP. Yu, who arrived in 2007 from the northeastern Chinese province of Heilongjiang, said the situation is so bad that she planned to move back when the economy allowed. 'I want to go home, but with the exchange rate being this low, I'd lose a lot of money,' she said. While former colonial master Japan has long had a difficult relationship with South Korea, Seoul's ties with China have increasingly come under the spotlight. In 2022, polling conducted by Hankook Research showed for the first time that South Koreans distrusted China more than they did Japan -- a trend that has continued in recent years. - 'No affinity' towards China - Former leader Yoon Suk Yeol referred to vague allegations of Chinese spying when he tried to justify his declaration of martial law, which led to his ousting. Conspiracy theories have since run rampant among the South Korean right, fuelling the distrust. But analysts also say that a series of clashes between Beijing and Seoul in recent years over history, territory and defence are the deeper cause of the schism. 'China's growing assertiveness is the main reason behind South Korea's negative views about the country,' said Ramon Pacheco Pardo from King's College London. 'Most South Koreans have no affinity towards today's China,' the international relations professor told AFP. Seoul has long trodden a fine line between top trading partner China and defence guarantor the United States. Relations with China nosedived in 2016 following the South's decision to deploy the US-made THAAD missile defence system. Beijing saw it as a threat to its own security and reacted furiously, imposing a string of restrictions on South Korean businesses and banning group tours as part of sweeping economic retaliation. A series of public spats about the origins of Korean cultural staples such as kimchi, which China had claimed as its own, also left a bitter taste. Yoon's administration deepened that divide, cleaving close to the United States and seeking to improve ties with Japan. 'Under his leadership, Seoul made its position unmistakably clear: it stood with Washington and its allies, not Beijing,' Claudia Kim, assistant professor at City University of Hong Kong, told AFP. Opposition leader and election frontrunner Lee Jae-myung has publicly hinted that a softer line might be in the works if he wins. Beijing won't 'miss the opportunity to improve relations with the South' if Lee wins, Cheong Seong-chang at Seoul's Sejong Institute told AFP, suggesting a visit by Chinese President Xi Jinping could even take place. Lee has also raised alarm bells by saying that a future conflict between China and Taiwan would not be South Korea's concern. That could put him on a collision course with the administration of US President Donald Trump, which has made containing China a cornerstone of its bid to reshape the international order. 'Trump's focus on deterring China may lead to a mismatch of foreign policy priorities with Lee,' Edward Howell, a lecturer in politics at the University of Oxford, told AFP. - Fake news thrives - Compounding deepening distrust of China has been a surge of conspiracy theories. Analysis by AFP revealed many of the most widely-circulated pieces of misinformation tap into fears of meddling by China. Rallies in support of ex-president Yoon have featured calls to oust alleged 'pro-Chinese Communist Party' forces, as well as posters with anti-Chinese slurs and slogans advocating for Chinese nationals to be deported. A recent editorial in Beijing's state-run nationalist tabloid Global Times condemned 'far-right' forces in South Korea for 'stirring up xenophobia' against Chinese people. In Seoul's Chinatown, Li Jinzi, 73, complained about a culture of 'misinformation' that was breeding negative feelings towards her home country. 'Fake news breeds misunderstandings,' she said.
Korea Herald
21-04-2025
- Business
- Korea Herald
Lee Jae-myung pledges to eliminate 'Korea discount,' achieve 5,000-point Kospi
Liberal presidential front-runner Rep. Lee Jae-myung pledged Monday to open an era of an eliminated "Korea discount," with the country's benchmark Kospi index surging twofold to pass 5,000 points after he is elected. Lee said Monday that his market reform push could put an end to the long-standing phenomenon of South Korean stock undervaluation due to weaknesses in corporate governance and opacity in market transparency -- known as the "Korea Discount" -- adding that enhancing minority shareholder protection, boosting transparency in the stock market and establishing a system for fair assessment of listed companies are prerequisites for his goal of attracting more capital to the stock market. Lee, who chaired the Democratic Party of Korea until he declared his presidential bid earlier this month, previously lost to Yoon Suk Yeol in the 2022 presidential election and is now jockeying for the Democratic Party's presidential nomination. 'If we establish a fair and reasonable corporate governance mechanism and market order, our stock market will take a stunning leap forward,' Lee said on a Facebook post Monday. 'We will make the era of 'Kospi 5,000' come true with South Korea's resilience and growth,' he also said. Lee did not elaborate on the time frame for the Kospi's projected passing of the 5,000-point mark on Monday, as the Kospi -- whose combined market cap of 849 companies stands at over 2,000 trillion won ($1.4 trillion) -- stood at around 2,480 points as of 2 p.m. Monday. His campaign promise suggested the total valuation of all listed companies on the Korea Exchange's main board could double if he wins the presidential election in June and serves his term until 2030. Laying out the financial market-related election campaign pledge, Lee expressed regret over South Koreans' tendency of overallocation to real estate in their asset portfolio, saying the phenomenon is due to people's distrust in the stock market. "Boosting South Korea's stock market is the easiest way possible to increase people's assets in a considerable way," said the two-term lawmaker. Lee pledged zero tolerance against white-collar crimes such as stock manipulation or other unfair practices on the stock market. He also vowed to strengthen policies to confiscate criminal proceeds from such unfair practices, as well as a monitoring system to prevent stock manipulation. "South Korea's stock market has suffered deep-rooted distrust," Lee said, as there are prevailing thoughts that those who make money by manipulating stock prices will not be punished if they have power. During his meeting with stock analysts at the headquarters of the Korea Financial Investment Association later on Monday, Lee said he would work to pass the revision of the Commercial Act to mandate a corporate boardroom's fiduciary duty to act in accordance with the interest of all of its shareholders, including small shareholders, if elected president. The bill, sponsored by the Democratic Party, failed on Thursday to override a veto by acting President and Prime Minister Han Duck-soo. Also during his meeting with stock analysts, Lee said South Korean stocks lacked in dividend payments to shareholders. He additionally raised a need to dissolve companies whose price-to-book ratio stands at below 1.0. The persisting undervaluation of South Korean stocks have been a headache for the Yoon Suk Yeol administration, as Seoul mapped out an initiative to launch a "Value-up Index" to boost market transparency that bore little fruit. Since the Korea Value-up Index initiative began in late September, the Kospi has fallen more than 4 percent in seven months.
