Chan sees positive market reaction to Xi-Trump summit

RTHK - Sep 26, 2026

Financial Secretary Paul Chan said markets would view constructive signals from the meeting between the leaders of the world’s two largest economies as a positive sign. That came as President Xi Jinping wrapped up his state visit to Washington on Friday by announcing that he would meet his US counterpart, Donald Trump, two more times before the end of the year. Xi had said at the state banquet that he and Trump had in-depth discussions and reached a "common understanding on many issues" that provided "new strategic guidance for China-US relations". Speaking on a radio programme on Saturday, Chan noted that this would help ease geopolitical uncertainties and volatility caused by sudden shifts in capital flows, giving investors greater confidence in asset allocation and market positioning. The mainland economy, he pointed out, is maintaining steady growth while Chinese enterprises are accelerating their overseas expansion. "We, along with Southeast Asia and neighbouring regions – collectively referred to as the Global South – will see more stable and robust economic growth," Chan said. "This will continue to serve as a driving force for global economic expansion. "In this regard, Hong Kong enjoys a distinct geographical advantage. "As mainland enterprises expand their industrial and supply-chain footprint, I feel...

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UpperClass bets on peer trust to reshape international student recruitment

When Dutch entrepreneur Mark Balneger first arrived in Korea as an exchange student in 2011, he didn't plan on building a career here — much less raising a family. But Korea kept drawing him back. After returning for summer school in 2013 and a working holiday in 2015, Balneger launched his own business in Seoul in 2016 through the Seoul Global Startup Center. He later worked in the Korean entertainment industry before leaving the country to complete his degree and care for his father, who had cancer. He returned in 2020. Today, he lives in Busan with his Korean wife and their two children. Now, his latest venture is bringing together two parts of his experience: his life as a foreign national in Korea and his work in technology and digital marketing. Balneger co-founded UpperClass with Rodel Sta. Ana, an entrepreneur who previously held an early leadership role at ApplyBoard, one of the world's leading international student recruitment platforms. Drawing on their combined experience, the pair believes universities already possess their most valuable recruitment asset: their own student

UpperClass bets on peer trust to reshape international student recruitment

Number of foreigners in Korea reaches 2.8 million in August

The number of foreign nationals in Korea reached 2.87 million last month, up 5.3 percent from a year earlier, government data showed Saturday. As of end-August, long-term foreign residents stood at 2.25 million, while those on short-term stays, including tourists, came to 629,406, according to immigration data from the justice ministry. By nationality, Chinese nationals accounted for the largest share of 34.6 percent, or 995,562 people, followed by Vietnamese at 383,244 and Americans at 181,325. While the total number of foreign nationals rose from 2.73 million in August 2025, last month's figure marked a decline from 2.9 million in July. Among the 1.64 million registered foreign nationals in Korea, 51.5 percent of them lived in the greater Seoul area, followed by 21.3 percent in the southeastern provinces of North and South Gyeongsang. The number of foreigners has steadily risen since 2021 when the figure dropped below 2 million amid the COVID-19 pandemic.

Number of foreigners in Korea reaches 2.8 million in August

Highways congested on Chuseok holiday as people return home

Major roads and expressways were congested across Korea on Saturday, the third day of the Chuseok holiday, as people headed home after family reunions in their hometowns. As of 1 p.m., travel times to Seoul from the southeastern city of Busan were estimated at seven hours and 50 minutes, six hours and 50 minutes from Mokpo, six hours and 50 minutes from Daegju, and six hours and 30 minutes from the southwestern city of Gwangju, according to the Korea Expressway Corp. This year's holiday for Chuseok, the Korean equivalent of Thanksgiving, runs from Thursday to Sunday. The holiday is marked by visits to hometowns, family reunions, ancestral rites and traditional holiday foods. Expressways heading to Seoul began being clogged early Saturday, but traffic in the opposition direction somewhat eased. As of 1 p.m., trips from Seoul to Busan were estimated to take five hours and 30 minutes, and three hours and 20 minutes to Gwangju. The state-run company said congestion was expected to peak between 4 p.m. and 5 p.m. and ease between 2 a.m. and 3 a.m. Sunday. An estimated 5.9 million vehicles were e

Highways congested on Chuseok holiday as people return home

JYP founder to face National Assembly scrutiny over 'Korean Coachella' trademark

Park Jin-young, founder and chief producer of JYP Entertainment, is expected to be called to testify at a National Assembly audit over his company's move to secure trademark rights to Fanomenon, a government-backed large-scale K-pop event. Rep. Bae Hyun-jin of the main opposition People Power Party said she plans to summon Park, who also serves as co-chair of the presidential committee on popular culture exchange, to explain why his company applied for the trademark rights and how they would ultimately be transferred. "The committee said the rights would later be transferred to the entity responsible for organizing the event," Bae wrote in a social media post Tuesday. "But it remains unclear why it was handled that way in the first place, when the rights will be transferred and whether the arrangement was properly reviewed," Bae said. "It has become unavoidable for us to call Park to testify at the National Assembly audit." Fanomenon, billed as Korea's answer to Coachella, is a global K-pop event being jointly organized by the presidential committee and major entertainment agencies. Sched

JYP founder to face National Assembly scrutiny over 'Korean Coachella' trademark

Number of int'l flight passengers up 10% this year despite hikes in oil prices

The number of international flight passengers using Korean airports rose around 10 percent in the January-August period from a year earlier despite a sharp rise in oil prices, data showed Saturday. A total of 68.44 million people used international flights in the first eight months of the year, up 9.8 percent from the previous year, according to the data from the airport portal information system of the transportation ministry. Experts said the yen's weakness and China's visa-free program for Korean nationals helped boost demand for flights to and from Japan and China. The number of travelers using Incheon International Airport, Korea's main gateway, for transit also increased amid the Middle East war. By destination, the number of travelers using flights linking Korea and Japan rose 20.3 percent on-year to 21.3 million in the cited period, and the number using China flight routes increased 23 percent to 13.6 million. Meanwhile, the number of passengers using flights to and from Southeast Asian nations markedly declined, the data showed. The number of travelers using flights linking Korea

Number of int'l flight passengers up 10% this year despite hikes in oil prices

'I feel sorry toward my parents': Youth job market remains a needle's eye

Koo, 28, who works on a contract basis at a large company, is growing anxious as the end of his contract approaches. Since his position does not offer the possibility of becoming a regular employee, he knows he must secure a job during the second half of this year. Until now, he has applied only to companies he really wanted to work for, but he is now prepared to consider any employer, including startups. “From what I can tell, the number of job postings this year seems to have fallen by half compared with last year,” Koo said. “I hate being compared with my cousins who have already found jobs, and I feel sorry toward my parents, so I don't want to go home for Chuseok.” For young people preparing for employment, Chuseok is not necessarily a welcome holiday. While Korea's economy is said to have recorded its highest-ever growth rate, driven by semiconductor exports, the gateway to employment for young people has narrowed to a gap smaller than the eye of a needle, leaving them reluctant to face their families. According to government data, the August employment rate among people ag

'I feel sorry toward my parents': Youth job market remains a needle's eye

Domestic violence reports surge over 44% during Chuseok holiday

Daily reports of domestic violence spiked by nearly 45 percent during last year's Chuseok holiday compared to an ordinary day — a pattern that has grown more pronounced each year since 2021, with authorities on heightened alert for this year's holiday. According to data from the National Police Agency obtained by Rep. Kim Yea-ji of the People Power Party, police received 8,017 domestic violence reports via the 112 emergency hotline during the seven-day Chuseok holiday from Oct. 3-9 last year. That translates to a daily average of 1,145 reports during the holiday period, 44.5 percent higher than the typical daily average of 792. Police received a total of 289,368 domestic violence reports throughout the year. During the Chuseok holiday, the daily average rose from 914 reports in 2021 to 915 in 2022, 937 in 2023 and 1,049 in 2024, before reaching 1,145 last year. In total, police received 4,568 reports over the five-day holiday in 2021, 3,660 over four days in 2022, 5,623 over six days in 2023 and 5,246 over five days in 2024. Amid this continued increase, police plan to strengthen protec

Domestic violence reports surge over 44% during Chuseok holiday

8 in 10 Korean social media users want AI content labels, citing distrust

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8 in 10 Korean social media users want AI content labels, citing distrust

Houthi attacks on Saudi Arabia test limits of Mecca regional security pact

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Houthi attacks on Saudi Arabia test limits of Mecca regional security pact

How Peng Liyuan and Melania Trump opened a parallel track in US-China diplomacy

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How Peng Liyuan and Melania Trump opened a parallel track in US-China diplomacy

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Hikers urge live updates on free quota spots to fix Po Pin Chau booking confusion

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Hong Kong police investigate suspected pinhole cameras in gym changing rooms

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