Hong Kong’s Paul Chan predicts positive market response to Xi-Trump summit

South China Morning Post - Sep 26, 2026

Hong Kong’s finance chief has predicted a positive market response to the Xi-Trump summit, saying the mitigation of geopolitical uncertainties will bolster investor confidence. Financial Secretary Paul Chan Mo-po made his prediction on a radio programme on Saturday, a day after Chinese President Xi Jinping wrapped up a three-day visit to Washington to meet with his US counterpart Donald Trump, with promises of more talks despite limited deliverables. “I believe the market will have a positive...

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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

IKEA Konstrunda collection offers 'affordable art' for all

IKEA has launched a new collection worldwide that explores a less familiar approach to home decor. For the new Konstrunda collection, seven creators came together to produce 18 distinctive art pieces, suggesting how art can be used to style everyday living spaces at affordable prices. Karin Gustavsson, creative director for the collection that was unveiled earlier this month, said the project is “democratization” of art, emphasizing the pieces’ comparatively low prices, ranging from 29,900 won ($21.50) to 349,000 won. Setting affordability as a key condition for the collection, she gave the artists broad creative freedom in how they expressed their ideas. As the leader for Range Identity at IKEA Sweden, Gustavsson said preserving each artist’s spirit and ideas was just as important as keeping the works affordable. “When I choose people to work with, I make sure that they understand the ethos of IKEA, and even if there is freedom to design, we do work on an entirely different scale and have other factors to consider — affordability being one of the most important,” said Gus

IKEA Konstrunda collection offers 'affordable art' for all

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

More than eight in 10 social media users in Korea said artificial intelligence (AI)-generated content and advertisements should be clearly labeled, reflecting growing discomfort over material that can appear artificial, misleading or difficult to verify. In a survey released Saturday by research firm Opensurvey, 85.6 percent of 900 YouTube, Instagram and TikTok users said social media platforms should disclose whether content was made using AI. Among respondents, 54.1 percent said such labeling was “absolutely necessary.” Support for disclosure was high across all three platforms: 88 percent among YouTube users, 85.3 percent among Instagram users and 83.3 percent among TikTok users. Nearly half of respondents, 49.9 percent, said AI-generated content felt artificial or awkward. Another 39 percent said they questioned whether its information was factual, while 33.8 percent said undisclosed AI use made them feel deceived. Only 11.4 percent described AI content as creative, 10.4 percent called it interesting and 9.6 percent said it felt new. The skepticism also extended to advertising. Am

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

Hong Kong minister vows to give public account of Queen Mary Hospital lift saga

Hong Kong’s development minister has promised a public account of her bureau’s oversight of the Queen Mary Hospital lift saga, while stopping short of saying whether a new accountability system for department heads would be invoked. Nearly two weeks after Chief Executive John Lee Ka-chiu tasked the Development Bureau with submitting a report within a month, Secretary for Development Bernadette Linn Hon-ho said she would get to the bottom of the defective works at the hospital, which left 24 of...

Hong Kong minister vows to give public account of Queen Mary Hospital lift saga

Why Taiwan’s coastguard vessel transfer to the Philippines has sparked a double outcry

Taiwan’s transfer of a former coastguard vessel to the Philippines has triggered a dual controversy – raising concerns over the interests of Taiwanese fishermen and prompting strong criticism from Beijing. The matter centres on a 61-metre (200-foot) retired cutter handed over to the Philippine Coast Guard through a non-governmental organisation on Monday, as Taipei and Manila expand practical maritime cooperation despite the absence of formal diplomatic ties. Beijing’s Taiwan Affairs Office...

Why Taiwan’s coastguard vessel transfer to the Philippines has sparked a double outcry

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