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Audio recordings of the Korea JoongAng Daily's in-depth, on-the-scene news articles and features informing readers around the world of the issues of the day in Korea. Under the slogan "Your window to Korea", the Korea JoongAng Daily is an English-language news organization focused on Korea that strives to publish factual, timely and unbiased articles.

  1. 7 HR AGO

    Chung Ki-sun takes over as chairman of HD Hyundai amid renewed importance of shipbuilding sector

    This article is by Lim Jeong-won and read by an artificial voice. HD Hyundai named Executive Vice Chairman Chung Ki-sun as chairman on Friday in a leadership succession centered on the third generation scion of the shipbuilding group's founding family. The reshuffle comes as HD Hyundai faces a critical period for its shipbuilding and heavy-industry businesses. Chung is expected to spearhead shipbuilding cooperation with U.S. partners as the industry emerges as a key sector in the ongoing trade negotiation. For future industries, HD Hyuddai will focus on digital innovation and environmental technologies, the company said. The company said this year's executive appointments were made earlier than usual to minimize disruption ahead of the two planned mergers of HD Hyundai Heavy Industries with HD Hyundai Mipo and HD Hyundai Construction Equipment with HD Hyundai Infracore. Former HD Hyundai Chairman Kwon Oh-gap was named honorary chairman and will step down from the board after the March 2026 shareholder meeting. HD Hyundai Site Solutions CEO Cho Young-cheul was promoted to vice chairman and will serve as co-CEO alongside Chung. At HD Hyundai Heavy Industries, Keum Seok-ho, formerly executive vice president, was promoted to president and appointed co-CEO with newly elevated Vice Chairman Lee Sang-kyun. Meanwhile, Kim Hyung-kwan, president of HD Hyundai Mipo, will move to HD Korea Shipbuilding & Offshore Engineering (KSOE) as co-CEO with Chung, while Kim Sung-joon becomes president and CEO of HD Hyundai Marine Solution. In the machinery sector, Moon Jae-young was named president of HD Construction Equipment, and Song Hee-joon was appointed CEO of HD Hyundai Site Solutions. Kim Wan-soo of HD Hyundai Robotics was also promoted to president. The appointments will be finalized following board approval and shareholder meetings. A graduate of Yonsei University and Stanford University's MBA program, third-generation heir Chung joined Hyundai Heavy Industries in 2009 and has held senior roles across finance, ship sales and corporate strategy. As head of HD Hyundai Marine Solution, he built the business into a key growth engine valued at over 11 trillion won ($7.75 billion), and in 2021 led the acquisition of Doosan Infracore to strengthen the group's construction-machinery division, according to HD Hyundai. Chung has recently focused on AI-driven digitization, environmentally friendly marine technology, and strengthening partnerships with U.S. industry leaders. An HD Hyundai spokesperson said the reshuffle "reflects the group's determination to open a new era under fresh leadership capable of responding to rapidly changing global conditions." The company pledged to balance the experience of existing executives with innovation, pursuing new growth engines while solidifying its position as a leading global heavy-industry group.

    3 min

  2. 7 HR AGO

    Korea's 'top-tier visa' program falling short of expections - only 3 recipients since launch

    This article is by Kim Yeon-joo and read by an artificial voice. As countries around the world fiercely compete to recruit talent for advanced industries like AI and semiconductors, Korea's ambitious new "top-tier visa" program is falling short of expectations. Critics say the stringent requirements have hindered its effectiveness in attracting high-level foreign professionals. According to data submitted by the Ministry of Justice to Democratic Party Rep. Jung Tae-ho on Wednesday, only three top-tier visas have been issued since the program launched in April. The recipients included one Taiwanese individual, one U.S. professional in the semiconductor sector and one Japanese professional in secondary batteries. The top-tier visa grants F-2 residency status to high-level foreign professionals who meet three key criteria: a master's or doctorate degree from a top 100 global university, work experience at a top 500 global company or equivalent research institution and an annual income exceeding 150 million won ($106,000) - roughly three times Korea's per capita gross national income. The program includes spousal work permits, online application and renewal options, priority immigration cards and support for taxes, housing and education. The government initially aimed to attract over 1,000 senior engineers from global tech companies, but the early results have been underwhelming. The Justice Ministry attributed the low issuance to the early stage of the program, noting that it is currently limited to talent in key industries such as semiconductors, displays, biotechnology and batteries. "We plan to expand eligibility to AI, future mobility, robotics and defense sectors, as well as to professors and researchers," the ministry said. "Promotional efforts will also be ramped up." But industry insiders say the eligibility requirements - especially the income and education thresholds - are unrealistic. "Most Korean companies have de facto salary caps, and offering 150 million won as base pay is typically limited to executives," said an HR officer at a major Korean conglomerate. "That alone narrows the talent pool considerably." Compared to other countries, Korea's visa requirements are particularly tough. Taiwan, for example, revised its laws in 2021 to allow graduates of the top 500 global universities to obtain work visas automatically upon employment at a local semiconductor firm - without additional review. Britain's High Potential Individual visa, introduced in 2022, grants graduates of top 50 global universities broad freedom to seek employment in advanced industries. Korea's earlier visa for advanced industry professionals - the E-7-S, introduced in 2023 - has also seen disappointing results. The number of visa holders dropped from 55 in its first year to just 18 as of August 2025, suggesting that many skilled workers who initially came to Korea have since left. Some insiders warn that Korea is not only failing to attract new talent, but also struggling to retain those it already recruited. "Even when we manage to hire foreign experts, many leave within two to three years for better offers at U.S. companies," said an HR official at a Korean semiconductor firm. "Adapting to Korean corporate culture and society remains a major hurdle." Experts say Korea needs bolder, more flexible policies. "Attracting talent from advanced economies like the United States is inherently difficult," said Kim Cheon-koo, a researcher at the Korea Chamber of Commerce and Industry's Sustainable Growth Initiative. "Korea should broaden its focus to countries like India or those in Eastern Europe, and offer lower barriers to entry with attractive benefits. Right now, the system is still too restrictive." Others emphasize that long-term settlement and integration support is just as important as the visa itself. Foreign residents often face hurdles in areas like rental loans, credit card eligibility and navigating public services. "Talent acquisition m...

    5 min

  3. 9 HR AGO

    Hyundai Motor focuses on China, India amid accelerating efforts to lessen dependence on U.S. market

    This article is by Kim Hyo-seong and read by an artificial voice. Hyundai Motor is accelerating efforts to diversify its sales networks with market-specific strategies for China and India, as uncertainties in the global market - including potential auto tariffs in the United States - continue to linger. Beijing Hyundai (BHMC), the Korean automaker's joint venture in China, began preorders for its new compact electric SUV "Elexio" on Thursday, according to the automobile industry on the same day. Similar in size to the Kia EV5, the Elexio measures 4.615 meters (5.047 yards) in length and 1.875 meters in width. It is equipped with lithium iron phosphate (LFP) batteries made by Chinese automaker BYD and boasts a maximum range of 722 kilometers (449 miles) on a single charge, based on Chinese certification standards. The Elexio was developed and manufactured entirely in China. It incorporates design elements tailored for Chinese consumers - including the number eight, a symbol of good luck in China, featured in its daytime running lights - and a 27-inch wide infotainment display in the interior, reflecting local preferences for in-car tech. Beijing Hyundai priced the model between 130,000 yuan ($18,240) and 150,000 yuan, roughly matching the local price of the EV5, which is 149,800 yuan. The company plans to introduce six China-exclusive electric vehicles by 2027, starting with a new compact electric sedan next year. The localization strategy is aimed at reclaiming lost market share. China remains the world's largest auto market, with 31.44 million vehicles sold last year - nearly double the 15.9 million units sold in the United States. Hyundai Motor Group's sales in China plummeted following the 2017 Thaad missile defense controversy, with combined sales of Hyundai and Kia falling to just 204,573 units last year, representing a market share of 0.65 percent. That compares to 1.14 million units sold in 2016 before the fallout, when the group held nearly 4 percent of the market. "Hyundai likely believes that even recovering half of its pre-THAAD market share would mean over 600,000 units sold annually," said Cho Chuel, a senior research fellow at the Korea Institute for Industrial Economics and Trade. "However, local startups have flooded the market with sub-premium EVs, so competition will be fierce." Hyundai is also doubling down on India. On Wednesday, the company held an investor day in Mumbai, where it announced plans to invest $5.1 billion in India by 2030. The investment will go toward modernizing local production facilities and R&D for market-specific models. Hyundai aims to launch eight hybrid SUVs and five electric vehicles by 2030. In 2027, the company will also introduce an India-exclusive Genesis model to tap into the country's growing premium car segment. Hyundai plans to expand production capacity by leveraging its plants in Pune, aiming to produce 250,000 units annually, Chennai, with 760,000 units, and Kia's Anantapur plant, with 350,000 units, building a combined annual capacity of 1.4 million units within a few years. To lead the effort, Hyundai will appoint Tarun Garg, currently the chief operating officer of Hyundai India, as its new CEO starting in January - the first Indian national to hold the position since the subsidiary was founded in 1996. India was the third-largest auto market globally last year, with 5.23 million vehicles sold. Hyundai sold around 610,000 units, accounting for 11.6 percent of the market. The company aims to raise its share to 15 percent by 2030. "There's no need to chase market share blindly. Sustainable, profitable growth is more important," said Hyundai Motor President Jose Muñoz during the India investor day. "The plan is to respond to India's expanding premium auto market with Genesis," said Kwon Yong-joo, a professor of automotive transport design at Kookmin University. Meanwhile, Hyundai also opened an experiential showroom in Tokyo earlier this month. It plans to target J...

    5 min

  4. 18 HR AGO

    Why is Korea strangely absent from K-content's global boom?

    This article is by Kim Ji-ye and read by an artificial voice. The record-breaking popularity of Netflix's "KPop Demon Hunters" has confirmed one thing: Korean content now commands a global audience. Released on June 20, the animated film continues to make history on the platform nearly four months after its debut. It has now become the most watched content on Netflix, outperforming the previous record holder, the first season of "Squid Game" (2021-) and marking the first Netflix production to exceed 300 million views. What was initially expected to appeal only to a limited audience, such as young women or K-pop fans, ended up captivating a far broader public, crossing borders and generations. Its strong, widespread popularity underscores both the global potential of Korean culture and its scalability. Recognizing that potential, Netflix bet heavily, pledging $2.5 billion in Korean productions by 2027. Rivals like Apple TV+ and Prime Video are also joining the trend, racing to launch their own Korea-themed originals such as "KPOPPED" and "Butterfly." Yet what seems like a triumph for Korean culture raises another question: Why are global streamers driving the biggest Korean projects and what weaknesses within Korea's own content industry are keeping it from taking the lead? Lack of investment and the vicious cycle What appears to be a heyday for Korean content stands in stark contrast to the domestic industry, which has been mired in a prolonged slump due to declining investment, weak performance and low returns. Film production has sharply declined, with reports saying an estimated 25 films are to be produced this year, less than half of the 58 titles made just five years ago. The drop is particularly devastating considering that from 2000 - often considered the start of the modern heyday of Korean cinema - until the Covid-19 pandemic, Korea's annual film production ranged between 60 and 100 titles. Television, while faring slightly better than film, faces its own difficulties, especially among traditional broadcast networks. Between 2019 and 2023, domestic broadcasters' drama productions fell from 109 to 77, while dramas produced by global streaming platforms jumped more than sevenfold, from 3 to 22, according to the Korea Communications Commission's 2024 report. At the heart of the problem lies the fact that money is not circulating effectively within the domestic ecosystem, leading to fewer productions, especially in the film realm. The limited investment, combined with a constrained distribution system, has created a vicious cycle. Lower returns have led investors to feel reluctant and scale back funding for new projects. According to a report from the Korean Film Council (Kofic), Korea's commercial films recorded average returns of -12.55 percent in 2022 and -30.98 percent in 2023, discouraging investors from funding new projects. "Due to the recent slump in box-office performance, the five major film investment and distribution companies - CJ ENM, Lotte Entertainment, Plus M Entertainment, NEW and Showbox - have continued to either suspend or refrain from making new investments," Kofic noted. This environment has pushed even high-profile creators to seek funding overseas for both films and dramas. A case that many worried had happened recently, as director Lee Chang-dong, known for films like "Burning" (2018), "Poetry" (2010), "Secret Sunshine" (2007) and "Peppermint Candy" (2000), gave up on a theatrical release of his new film "Possible Love" and instead partnered with an overseas giant, Netflix. This came as a shock to many in the Korean film industry, as even those once thought to have little trouble securing funding - legacy filmmakers like Lee - have found themselves turned away by the traditional film system, highlighting how even its most respected auteurs are no longer immune to the industry's decline. The director reportedly returned his government funding for his new film from the Ministry of Culture, Sp...

    13 min

  5. 1 DAY AGO

    The paradox of housing regulation

    Cho Won-Kyeong The author is a professor at UNIST and the head of the Global Industry-University Cooperation Center. The new administration has announced its third housing policy, expanding regulated zones. Regulatory efforts are also spreading abroad. In New York, tenants spend about 29 percent of their pretax household income on housing. After adjusting for disposable income, the burden is even heavier, prompting Democratic mayoral nominee Zohran Mamdani to campaign on a policy of freezing rent levels. In California, where median home prices are more than double the national average, even middle-income families can hardly buy a house. In Los Angeles, median rent equals 34 percent of the median income. Against this backdrop, state governments have introduced rent caps and tenant protections, though such measures risk reducing supply and distorting markets over time. Romania, where socialist-era policies fostered the "one household, one home" norm, now has the highest homeownership rate in Europe. Yet the outcome has been a concentration of property wealth, inflexible transactions and a weak rental market - proof that high ownership does not guarantee housing stability. Korea faces a similar dilemma. The government aims to curb speculation by expanding the land transaction permit system, which requires government approval for property purchases in designated areas. But such controls, despite good intentions, often bring unintended results. They slow property sales, reducing jeonse - Korea's lump-sum deposit lease system in which tenants pay a large upfront sum instead of monthly rent - and push landlords to switch to monthly contracts. This shift strains household cash flow and raises housing costs for tenants. Meanwhile, supply contraction and heightened expectations can paradoxically drive prices upward. Rent controls ease housing costs in the short term but are no structural solution. Without parallel efforts to expand supply and raise income, renters in both New York and Seoul will remain trapped in insecurity. Overreliance on regulation may erode public trust and deepen social frustration. The real answer lies not in tightening the market but in creating space for people to breathe - policies that expand opportunity rather than restrict it. This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

    2 min

  6. 1 DAY AGO

    After Gaza, will Donald Trump try for a peace deal with North Korea next?

    Michael Green The author is the CEO of the U.S. Studies Centre at the University of Sydney and the Henry A. Kissinger Chair at the Center for Strategic and International Studies. U.S. President Donald Trump claims he has stopped eight wars. That number is debatable, but he deserves major credit for his recent Gaza peace deal. Phase One of the deal - a ceasefire, withdrawal of the Israel Defense Forces (IDF) to a new line, opening of aid in Gaza and the release of remaining Israeli hostages in exchange for Hamas and Palestinian prisoners - appears to be holding. The next phase is to establish permanent peace, disarm Hamas and remove it from governing Gaza, form a new administration led by Palestinian "technocrats" and explore a Palestinian state alongside Israel. These will all prove massively complex since Hamas will not voluntarily disarm, nobody knows who the Palestinian technocrats are, and Netanyahu's coalition partners oppose creation of a Palestinian state. Nevertheless, the ceasefire, aid resumption and return of hostages represent a rare diplomatic and humanitarian success in the region. Trump is obsessed with winning the Nobel Peace Prize. He pressured President Moon Jae-in and Prime Minister Abe Shinzo to nominate him for his diplomacy with Kim Jong-un. More recently, he reportedly resented Indian Prime Minister Narendra Modi for not joining Pakistan in nominating him after the de-escalation of India-Pakistan fighting. Some analysts say his fascination comes from Obama's earlier win, while others link it to his background in beauty pageants and television. When the Nobel Committee awarded the prize to Venezuelan opposition leader María Corina Machado days after the Gaza agreement, the Trump White House reacted angrily, showing how much he craves recognition. It is therefore reasonable to expect that Trump will look for other conflicts where he can add to his list of war-ending deals. With the upcoming APEC Economic Leaders' Meeting and travel to Korea, speculation has grown about a return to U.S.-DPRK summitry. But does the Gaza agreement make a breakthrough with North Korea more likely? In Gaza, Trump played a decisive role, but conditions for a ceasefire already existed. Hamas was on the ropes: The IDF had decimated its fighters, and the group's leadership in Qatar was desperate for breathing room. Hamas was also isolated after the Israeli strikes on Hezbollah in Lebanon and U.S. bombing of Iran. In Israel, public frustration was rising over Prime Minister Benjamin Netanyahu's failure to free hostages. Domestically, Trump had the political space to pressure Israel thanks to Republican control of Congress - leverage his predecessor Joe Biden never had. Smart diplomacy and Trump family business ties also helped win Arab Gulf support. None of these conditions exist with North Korea. Unlike Hamas, Kim Jong-un is under little pressure. He enjoys strong backing from China and Russia, unseen in decades. Moscow and Beijing are blocking any new UN sanctions, and Russia is supporting Pyongyang economically and technologically in return for North Korean soldiers fighting in Ukraine. The Kim regime shows no need for compromise, rejecting diplomacy with the United States and reconciliation with the South. There is also less urgency than during the last Trump-Kim summit, when the world feared war over North Korea's missile program. This time there is no imminent threat, and a new summit would lack the drama of 2018. To many, a Trump-Kim meeting would feel like a tired rerun rather than a high-stakes drama of war and peace. Trump, ever attuned to optics, would know that. The question of what could be negotiated remains. Trump walked away from a deal in Vietnam in 2018 because Kim was not serious about denuclearization. While Gaza's long-term peace remains uncertain, its ceasefire and hostage exchanges have earned global praise. If Kim's proposals in 2018 were insufficient, it is hard to imagine he would offer more now, give...

    5 min

  7. 1 DAY AGO

    Kospi breaks 3,700 - time for a structural, not just cyclical, bull market

    The benchmark Kospi has surpassed the 3,700 mark for the first time in history. A rebound in the semiconductor sector - fueled by artificial intelligence (AI) demand and coupled with expectations of U.S. interest rate cuts and progress in tariff negotiations with Washington - has driven foreign capital into Korean equities. On the surface, the market looks like a classic bull run. But whether this becomes a sustained structural rally remains uncertain. Tailwinds in global conditions alone cannot guarantee long-term value growth. What Korea's stock market needs now is a qualitative and structural leap, not just a numerical one. The domestic market's total capitalization has topped 3,000 trillion won, yet its price-to-earnings and price-to-book ratios remain below those of major advanced markets. The so-called "Korea Discount" persists. Weak corporate governance, low shareholder returns and policy inconsistency - such as frequent changes in short-selling regulations - have undermined investor confidence. To turn short-term inflows of foreign funds into long-term investment, the country must address these fundamental weaknesses through serious reform. The government, which has set the goal of ushering in the "Kospi 5,000 era," should avoid one-size-fits-all measures such as forcing companies to sell treasury shares. With tight housing policies expected to push more domestic liquidity into equities, lasting inflows will depend on stronger institutional credibility and investor trust. Korea's inclusion in the MSCI developed market indexes - a milestone that could attract long-term global funds - will also remain out of reach without meaningful improvements to market structure and regulation. Beyond institutional reform, the real driver of sustainable stock growth lies in corporate profitability. Share prices ultimately reflect competitiveness. As this year's Nobel laureates in economics reaffirmed, the Schumpeterian idea of "creative destruction" defines a vibrant industrial ecosystem and the foundation of corporate value. Korean firms must pursue qualitative innovation by expanding research and development, exploring new growth engines and integrating manufacturing with AI. Only through such progress can domestic capital move from real estate into equities and foreign investment continue steadily. Government and legislative action will be equally crucial. They must nurture an innovative industrial environment rather than impose regulations that stifle investment and employment. Pension funds and institutional investors should also shift away from short-term returns and play a stronger role as long-term backers of innovation-driven companies. The current Kospi rally presents a rare opportunity for Korea's capital market to evolve beyond the "smart money always leaves first" cynicism that has long shadowed it. If government efforts to stabilize the investment environment combine with genuine corporate innovation, the market could move toward the kind of structural bull run seen in the NYSE and Nasdaq. For policymakers and business leaders alike, this is the moment to strengthen the foundations of Korea's financial and corporate competitiveness - the true starting point of a lasting bull market. This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.

    3 min

  8. 1 DAY AGO

    2025 Korea JoongAng Daily Forum - in pictures

    This article is by Michael Lee and read by an artificial voice. Some 220 participants, including ambassadors and senior diplomats from over 40 countries, attended the Korea JoongAng Daily Forum at the Lotte Hotel in central Seoul on Thursday. The event took place one day before the 25th anniversary of the printing of the paper's first edition on Oct. 17, 2000, when the JoongAng Ilbo launched an English-language newspaper in partnership with the International Herald Tribune, now The New York Times. Speakers at the forum included Stephen Dunbar-Johnson, president, international of The New York Times, and Minister of Unification Chung Dong-young, who outlined the Lee Jae Myung administration's approach to North Korea and the broader region.

    1 min
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Audio recordings of the Korea JoongAng Daily's in-depth, on-the-scene news articles and features informing readers around the world of the issues of the day in Korea. Under the slogan "Your window to Korea", the Korea JoongAng Daily is an English-language news organization focused on Korea that strives to publish factual, timely and unbiased articles.

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