Korea JoongAng Daily - Daily News from Korea

This article is by Kim Ji-ye and read by an artificial voice. Warning: The article may contain spoilers for ENA's series "Climax" For viewers growing weary of soft, feel-good Korean romance dramas, there is a newly buzzing K-drama offering a very different viewing experience: ENA's latest series "Climax." On top of the intense, fast-paced storytelling Korean dramas are famous for, it also features more provocative elements like scandals surrounding sexual favors, homosexuality and murder-for-hire. Starring Ju Ji-hoon, known for his roles in Netflix's "Kingdom" (2019-20) and "The Trauma Code: Heroes on Call" (2025), alongside Ha Ji-won, "Climax" has steadily gained attention since its release on March 16. The series topped Disney+ Korea's daily Top 10 series chart for 10 consecutive days as of Friday. It was also ranked as the most buzzed-about TV drama series during the week of March 16 to 22, according to FUNdex, a popularity aggregator by GoodData Corporation. Actor Ju, likewise, topped its charts in the performer category during the same week. The mystery melodrama "Climax" takes place in the ruthless worlds of the business and entertainment industries. It follows Bang Tae-seop, an ambitious, self-made prosecutor striving to climb Korea's power hierarchy. Unlike a conventional morally upright authority figure, Tae-seop aligns himself with whomever he believes will further his own path to power. The series has a star-studded lineup, with actor Ju portraying Tae-seop and Ha playing Chu Sang-a, a former top star and Tae-seop's wife. It also features Afterschool's Nana, Oh Jung-se and Cha Joo-young from "The Glory" (2022-23). Directed and penned by Lee Ji-won, best known for the 2018 film "Miss Baek," which received multiple honors at major Korean awards ceremonies, including the Blue Dragon Film Awards and the Baeksang Arts Awards, the series has drawn attention in part for its provocative subject matter. High-dopamine themes "Climax" incorporates themes such as ambition, betrayal and desire, while also touching on issues rarely covered in Korean dramas, such as sexual blackmail and gossip "MeTubers" — a fictional term used for YouTubers in the series — as well as media manipulation, homosexuality and murder-for-hire. "It felt like it put out the desires everyone knows but doesn't really talk about," actor Ju said during the show's press conference held early this month, citing it as the reason why he decided to participate in the project. Online reactions suggest that part of the appeal lies in that sense of novelty, with viewers describing it as "something worth watching for the first time in a while" and "a kind of drama rarely seen in Korea." From its opening episodes, for instance, it explores issues such as sexual bribery in the entertainment industry, as Tae-seop jumps into a politically sensitive case involving a leading presidential candidate that might even jeopardize his own career. Proceeding with the investigation, Tae-seop ultimately directly witnesses the candidate's sexual exploitation scene in her hotel room and records it, exposing the scandal. As the story progresses, additional plotlines involving a murder-for-hire case, questions surrounding Tae-seop and Sang-a's marriage and Sang-a's relationship with another woman further complicate the narrative. Ha's portrayal of a same-sex romance, including a kissing scene, has also drawn particular attention since it was aired. Being her first in a nearly three-decade career, Ha's bold character portrayal surprised many viewers, as such depictions are still relatively uncommon in Korea, with some describing it as an unexpected twist. Powerhouse performance The actors' performances have also been cited as a key draw, with some viewers highlighting the cast's intensity and range, calling it "a showcase of powerhouse performances." Many cited Ju's acting, especially when, he records the candidate having sex with a rookie actor and whistles as if to say "gotcha" w...

This article is by Lee Jae-lim and read by an artificial voice. [NEWS ANALYSIS] SK hynix, which is still believed to be undervalued despite being the world's leading memory maker and a key supplier to Nvidia, is preparing to boost its valuation by pursuing a U.S. listing in the second half of 2026 through American depositary receipts (ADRs). At the same time, the company is investing a significant amount to expand its supply chain footprint across Korea and the United States. However, the ADR listing plan has sparked debate among shareholders and analysts. Supporters argue that a U.S. listing could help narrow the "Korea discount" — in which local shares trade below their value — that has long weighed on domestic equities. Critics, on the other hand, warn that issuing new shares could dilute existing shareholders' stakes. The uncertainty persists because the listing process is at the initial stage, with no detailed plans regarding the ADR structure and issuance. TSMC is being cited as a relevant successful precedent. The Taiwanese chipmaker listed its ADRs on the New York Stock Exchange in 1997, just three years after its domestic initial public offering, or IPO, in September 1994. Since then, TSMC's market capitalization has increased more than 220-fold to $1.7 trillion. So what is the dispute? Domestic shareholders are concerned that issuing new shares could dilute existing ones. At the general meeting, a retail investor questioned whether the company would issue new shares to support ADRs, noting that it had already canceled its treasury shares. SK hynix did not answer the question directly and instead commented that details on size and structure have not yet been finalized. Market participants estimate that new shares worth 10 to 15 trillion won ($6.6 billion to $9.9 billion) could be issued. Despite this, global market sentiment regarding SK hynix stock remains optimistic. Nomura Securities recently revised its target price for SK hynix upward to 1.93 million won, citing the Korean company's U.S. listing effort — which would reduce the valuation gap with Micron — as a key rationale. Goldman Sachs and Mirae Asset Securities estimated SK hynix's target price at 1.35 million and 1.54 million won. Goldman Sachs described the current period as the "strongest upcycle in memory history," forecasting SK hynix's 2026 operating profit to reach 202 trillion won. Korean analysts have also been overly positive about the company's U.S. listing effort due to the fact that memory shortages will likely persist throughout 2028; chip prices, in turn, will remain elevated from the supply bottleneck. "If a valuation gap emerges between ADRs and domestic common shares, [that gap] could lift the valuation of the underlying shares," said Mirae Asset Research analyst Kim Young-gun. A valuation gap between ADRs and domestic shares refers to the same company trading at different prices or valuation multiples across markets. While ADRs and Korean-listed shares should theoretically be priced equally after accounting for exchange rates and conversion ratios, ADRs can sometimes trade at a premium due to stronger demand from global investors, with better market access and a reduced Korea discount. If ADRs trade higher, arbitrage activity, in which investors buy cheaper Korean shares and convert them into ADRs, may drive up the domestic share price, ultimately lifting the underlying valuation. This is important when assessing the potential dilution from a new share issuance. While issuing new shares increases the total number of outstanding shares, thereby diluting existing ownership, the impact may be limited if the issuance is small. In such cases, any valuation rerating driven by an ADR listing could outweigh the dilution effect, especially if the listing helps narrow the company's discount relative to global peers. This is the reason that SK Square, SK hynix's largest shareholder, is expected to maintain its 20.5 percent stake. Kim Rok-ho, an a...

This article is by Woo Ji-won and read by an artificial voice. [INTERVIEW] Less than two years after opening in Seoul, restaurant SAN is already making its mark — ranking No. 54 on the extended list of Asia's 50 Best Restaurants and earning one Michelin star this month. "I never expected such honors would come this fast," said chef Jo Seung-hyun of SAN in an email interview with Korea JoongAng Daily. "It is very meaningful, as it feels like our standards and the direction of our team have been validated." SAN is a French-influenced Korean fine dining establishment located in Gangnam District, southern Seoul, offering a course menu priced at 350,000 won ($233). It also received the "One to Watch Award" as part of Asia's 50 Best Restaurants this year — the first time the award has gone to a Seoul-based establishment since 2017. Despite the comparisons and high expectations, chef Jo said he feels "no pressure at all." "I previously worked with chef Anh Sung-jae at The French Laundry, and he was the one who introduced me to the Korean dining scene. Naturally, comparisons may arise, but I believe SAN has its own direction," he said. After graduating from the Culinary Institute of America, Jo worked at the Michelin three-star French restaurant The French Laundry in the United States and then at the three-star La Maison Troisgros in France before serving as chef de cuisine at Benu, a Michelin three-star restaurant in San Francisco led by Korean-American chef Corey Lee. SAN, named after his son, distinguishes itself in Seoul's fine-dining scene by reinterpreting Korean ingredients through Jo's French culinary training. "The foods I grew up eating, combined with the experiences and techniques I gained abroad, come together to create a version of Korean cuisine interpreted through my own perspective," he said, adding that "creating Korean cuisine that feels familiar yet new is SAN's greatest distinction and appeal." At the restaurant, for example, the glutinous rice paste that forms the base of gochujang (fermented chili paste) is made using French-style shrimp stock to add depth of flavor, and traditional braised fish dishes are reinterpreted using marinade and brown butter cooking techniques. However, chef Jo said the restaurant is becoming increasingly "Korean." "As the restaurant continues to develop, I believe it is actually becoming closer to Korean cuisine," he said, adding that "nearly all of our dishes have been centered on Korean ingredients from the beginning." Many dishes are also distinctive, including "tofu flower" and a soy sauce marinated crab rice bowl. "'Tofu flower' was inspired by Chinese techniques and Pyongyang naengmyeon [buckwheat noodles in cold broth]. The tofu is shaped like noodles, and buckwheat aroma is added to the broth to create something both familiar and new." For the soy sauce marinated crab rice bowl, the idea began by adjusting the viscosity of the sauce so it lingers longer on the palate. Rice with a pleasing texture and an egg yolk puree are added to create a new experience. Jo's journey into cooking began in elementary school during a class, when he made a simple seaweed soup. "I asked my mother many questions while preparing the ingredients, and I remember being recognized as the most prepared student in class. Experiencing the difference in taste before and after adding soy sauce sparked my interest in cooking." Later, on a teacher's recommendation, he entered a culinary high school and began cooking in earnest, which naturally led him to dream of studying abroad. He went on to work at some of the world's most famous restaurants, gaining valuable lessons that now inform his own kitchen. "At The French Laundry, I learned professionalism and diligence; at La Maison Troisgros, I learned French cuisine and European culture; and at Benu, I learned the attitude and responsibility required as a chef." Despite all that, Jo believes the most important element in cooking is "the basics." "I belie...

This article is by Michael Lee and read by an artificial voice. When 35-year-old accountant Choi Jung-hwan went out to Itaewon, a hub of gay nightlife in central Seoul, earlier this month, he thought he was just another face in the crowd. But as Choi turned down a drunk stranger's advances on the street, the man shouted at him, "I know where you work. I'm going to tell." Choi, who used a pseudonym in his interview with the Korea JoongAng Daily, recalled being filled with dread as he ran. "I didn't know what would happen if that guy made good on his threat," he said. The ominous turn of Choi's night out highlights the lack of legal safeguards against discrimination not only for LGBTQ individuals, but also for other minorities in Korea. In most advanced economies, such protections are standard. But among members of the Organisation for Economic Cooperation and Development (OECD), only Korea and Japan lack a single overarching statute barring unequal treatment based on characteristics such as gender, disability, age, race, nationality, religion and sexual orientation in areas including employment, education and public services. Although lawmakers from two minor liberal parties in Korea submitted separate antidiscrimination bills for consideration by the National Assembly earlier this year, both evoked a strong sense of déjà vu. The bills are the latest in two decades of legislative proposals that have ultimately been shelved without ever being put to a vote. In Korea, antidiscrimination bills have been repeatedly introduced for consideration by the legislature since 2007, only to falter and expire before reaching the chamber floor. The reasons lie in an interplay of political caution, social division and the way such legislation has been framed in public debate. A familiar bill The two antidiscrimination bills submitted by Rep. Sohn Sol of the liberal Jinbo Party and Rep. Jeong Chun-saeng of the liberal Rebuilding Korea Party both follow the broad contours of earlier proposals in that they not only enumerate protected categories but also define discriminatory conduct and establish mechanisms for redress. At their core, however, the bills are meant to do something more fundamental: replace a patchwork of issue-specific protections with a unified framework. "Because current laws treat both the grounds and areas of discrimination separately, it is difficult to address intersectional discrimination, where multiple factors overlap," Rep. Sohn told the Korea JoongAng Daily. She noted that the absence of a single comprehensive statute defining what constitutes discrimination and hate crimes has made it "difficult to respond effectively" to incidents such as rallies targeting specific nationalities. An all-encompassing law, she said, is necessary "simply to establish clear standards for what counts as discrimination and hate in our society." She added that her draft bill reflects lessons from past failures to reach a full Assembly vote by clarifying definitions and emphasizing corrective measures over punitive ones. Public opinion, divided by design On its face, public opinion might appear to favor such a law. Polls that ask broad questions about discrimination tend to show strong support for a legal remedy. But that apparent majority varies across surveys. "Public opinion polling depends widely on how questions are framed," said Kim Ji-kyung, gender equity commissioner at the National Union of Media Workers. Kim noted this divergence in polling largely comes down to how questions are worded, adding that surveys commissioned by some Christian groups "are designed to draw respondents' attention to groups that would be protected by antidiscrimination legislation." However, even the Gallup Korea survey also shows that Koreans do not believe discrimination is a serious problem for all groups. While 46 percent of respondents said that they believe socioeconomic discrimination is "very" serious, only 26 percent said the same of discrimin...

The author is a writer and senior fellow at the Institute for Social and Economic Research. On the night of March 29, 1867, in Washington, a late visitor arrived at the home of Secretary of State William H. Seward, who served in the cabinet of President Andrew Johnson, Abraham Lincoln's successor following his assassination. The guest was Eduard de Stoeckl, the Russian minister to the United States. Seward, who had been playing cards with his family, welcomed him despite the hour. It was time to conclude long-running negotiations over the sale of Alaska, which had begun even before the Civil War. By 4 a.m. the next day, March 30, the two sides reached an agreement. Under a treaty drafted in English and French, Alaska became U.S. territory for $7.2 million, roughly two cents per acre. At the time, the deal was widely derided in the United States as "Seward's Folly" or "Seward's Icebox." Public opinion was skeptical, and the vast, frozen land appeared to many as a costly mistake. It was not until after 1896, when gold and later oil and other natural resources were discovered in abundance, that ridicule gave way to celebration. Securing congressional approval proved difficult. Stoeckl reportedly resorted to bribing members of Congress to ensure the treaty's passage in both chambers. For Russia, the sale was a matter of strategic necessity. The empire lacked the capacity to defend Alaska, particularly against the threat posed by British-controlled Canada. Losing the territory to Britain without compensation was the worst possible outcome. Selling it to the United States, which was not then a principal rival, offered a way to secure revenue while avoiding that risk. Had Russia retained Alaska, the course of Cold War history might have unfolded differently. Such speculation, however, remains hypothetical. The mood at the time is captured in an April 9 edition of the New York Tribune, published on the day of the congressional vote. The paper wrote that maintaining a single naval vessel cost $1 million annually, and that killing one Native American on the Nebraska plains cost $115,000. By comparison, it suggested, each Native person in the newly acquired territory might effectively cost $300,000. The Alaska Treaty was a product of the age of imperialism, when such chilling calculations could appear in print without controversy. In effect, the United States purchased from Russia what was understood as the right to conquer Alaska. It is a moment from history that is difficult to imagine repeating today. That is why proposals such as President Donald Trump's suggestion to annex Greenland are widely criticized as anachronistic. 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.

Cha Se-hyeon The author is an editorial writer at the JoongAng Ilbo. The United States' war against Iran is increasingly turning into a quagmire, with China and Russia emerging as unexpected beneficiaries. The conflict has once again exposed the limits of coordination among China, Russia, Iran and North Korea, often referred to as the "CRINKs." Although Iran, a central pillar of this alignment, is under attack, Beijing and Moscow have shown little willingness to provide active support. Their restrained posture mirrors earlier episodes, including the fall of Syria's Bashar al-Assad regime in 2024 and the arrest of Venezuela's Nicolás Maduro in January this year. Instead, both appear to be enjoying the strategic and economic windfall created by U.S. President Donald Trump's military gamble. Iran, along with North Korea, has been one of Russia's most important backers in its war against Ukraine for more than four years. Once a major importer of Russian arms, Iran has since become a supplier. Beginning in the fall of 2022, Tehran provided Shahed drones to help compensate for Russia's shortage of precision-guided munitions. It also shared illicit trade networks, including a "shadow fleet" built over a decade to evade Western oil sanctions, helping sustain Russia's wartime economy. Bilateral trade between the two countries has more than doubled since the invasion of Ukraine, approaching $5 billion. Yet Moscow has stopped short of providing Iran with the advanced fighter jets, air defense systems and precision-guided weapons it now urgently needs. Russia remains constrained by its own war in Ukraine. According to foreign media reports, its support has been limited to sharing intelligence on U.S. military assets in the Middle East and offering upgraded drone technology. At the same time, Russia is benefiting from soaring energy prices. Iran's threats to close the Strait of Hormuz and its attacks on energy infrastructure in Gulf states have pushed global oil prices higher. European Council President Antonio Costa has said that Russia may be the only clear winner of the Iran conflict. As Middle Eastern supply is disrupted and Western sanctions on Russian energy are effectively loosened, countries such as India and China are turning to Russian crude. The price of Russia's Urals oil, which averaged about $52 per barrel in January and February before the conflict, surged to between $70 and $80 in March. According to the Kyiv School of Economics, Russia is earning at least 970 billion won per day from oil and gas exports. With Gulf infrastructure damage expected to take years to repair, these gains could continue for some time. The war is also straining U.S. military capacity. As American and European support for Ukraine declines, Russia's spring offensive is gaining momentum. The Washington Post reported that the Pentagon is considering diverting weapons originally designated for Ukraine. These include air defense interceptors such as Patriot and Terminal High Altitude Area Defense (THAAD) missiles, which had been ordered by NATO under its Priority Ukraine Requirements List program. The scale of U.S. military expenditure underscores the strain. The Telegraph reported that in the first 16 days of the war, U.S. forces fired more than 11,000 munitions for $26 billion, or about 39 trillion won. This included 198 THAAD interceptors, 431 SM-2, SM-3 and SM-6 naval missiles, 402 Patriot missiles and 850 Tomahawk missiles. The Royal United Services Institute warned that if consumption continues at this pace, stockpiles of some critical weapons could be depleted within a month. China, for its part, has maintained a formally neutral stance while voicing support for mediation efforts by countries such as Egypt, Türkiye and Pakistan. Yet Beijing is also reaping indirect benefits. A depletion of U.S. military inventories risks creating broader security gaps. Catherine Thompson, a senior fellow at the Cato Institute, warned that the Iran war could w...

Lee Hyun-sang The author is a columnist at the JoongAng Ilbo. The United States' war against Iran is sinking deeper into a quagmire. Washington, shaken by the economic shock, is searching for an exit but cannot find one easily. In just the first six days of the war, the cost reached $11.3 billion, or about 17 trillion won. That works out to nearly 33 million won every second. The Pentagon has asked for an emergency supplemental budget of $200 billion. The scenario Washington initially touted — a short campaign of precise strikes — has vanished. At the base of this war lies President Donald Trump's trademark "art of the deal," a phrase associated with "The Art of the Deal" (1987). His method is clear: drive the other side to the extreme, generate fear, then force through the terms he wants. Its core elements are to overwhelm the opponent by thinking big, maximize unpredictability by widening options and seize the opponent's weak point through leverage. At the start of the war, the United States seemed to dominate the board by wiping out key figures in Iran's leadership. But war has not moved according to Trump's calculations. He now appears trapped by the Strait of Hormuz and November's midterm elections. His repeated bluster, TACO-style retreats — a term used by critics to describe his tendency to make threats and then pull back at the last moment ("Trump Always Chickens Out") — and wavering moves have deepened doubts about his judgment. Why does a method that worked in business reveal such sharp limits on the diplomatic stage? Business ends with a contract, but diplomacy is a more tangled process in which national interests, political legitimacy and domestic calculations are intertwined. At its core, Trump's style seeks immediate advantage in zero-sum fashion. Diplomatic negotiation, by contrast, aims for a plus-sum outcome that recognizes the other side's existence and seeks to avoid catastrophe. Even war is no exception. Carl von Clausewitz wrote that war is the continuation of politics by other means. By moving first to eliminate Iran's leadership, Trump may have made negotiation harder. Behind such decisions stands Israeli Prime Minister Benjamin Netanyahu, who has strong incentives to prolong the war and thereby extend his political life. The second reason is that the parties to a deal are different. In business, two chief executives can sign and finish the matter. In politics, however, countless outsiders — voters, public opinion, allies and international organizations — hold the power to determine success or failure. U.S. allies, worn down by Trump's unilateralism, have responded coolly, saying in effect that this is not their war. The problem returns to domestic politics. Trump seems to have taken too lightly the fact that most U.S. allies are democracies sensitive to public opinion. A third factor is emotion, a variable that cannot be neatly calculated. Trump seems to have assumed that removing Iran's leadership would make victory easy. That was a misjudgment. In medieval European warfare, there was an unwritten rule that kings did not kill kings. The point was to leave an opposing side in place for negotiation. Rulers wished to avoid vengeance, uncontrolled escalation and the blurring of war's purpose. Trump's business instinct appears to have left no room for the pride of Iran, a regional power with a long imperial memory. The simple grammar of business does not work on the battlefield. Even Trump's base inside the United States, the isolationist MAGA camp, is beginning to waver. These supporters backed him partly because they felt they had been losers in globalization. But they are losing patience as Trump's decisions begin to threaten their interests. To borrow the logic recently used by commentator Rhyu Si-min, who stirred controversy in Korea by dividing a political support base into A, B and C groups, the greatest dissatisfaction now appears to be growing not among value-driven core loyalists (A) but am...

As the Iran war shows signs of becoming prolonged, disruptions to global supply chains are spreading across the economy and industry. The impact extends beyond surging energy prices to growing concerns over shortages of raw materials and industrial inputs. For Korea, which relies heavily on imports of resources, the shock is direct and significant, with risks extending into manufacturing, logistics and daily consumption. Pressure on fuel prices is intensifying. On Sunday, the third day of the government's second round of price controls, the average gasoline price in Seoul exceeded 1,900 won per liter. Deputy Prime Minister Koo Yun-cheol said that if international oil prices rise to between $120 and $130 per barrel, the current vehicle rationing system applied to public institutions could be expanded to the private sector as a contingency response. Tensions are also rising in production. The most immediate concern is a shortage of naphtha, a key feedstock for plastics and other manufactured goods. Korea imports about 50 percent of its naphtha demand, with roughly 60 percent coming from the Middle East. Since the outbreak of the war, overall supply has declined by about 30 percent. Production disruptions are becoming visible across consumer goods, including food packaging, PET bottles and garbage bags, as well as medical plastics such as IV fluid bags and synthetic fibers, raising concerns across industries. The semiconductor sector is also on edge. A strike on Qatar's liquefied natural gas facilities has raised concerns about helium supplies, an essential coolant in chip manufacturing. Korean companies have secured stockpiles lasting several months, but uncertainty is growing as Qatar accounts for about 30 percent of global helium supply. The disruption could ripple further, affecting food prices as well if fertilizer production costs rise. Given the uncertainty surrounding the conflict, the government must prepare for worst-case scenarios with detailed and flexible responses. It should first assess demand across industries and firms to design precise plans for securing energy and raw materials. The government and businesses must act together to diversify supply chains and identify alternative sources while coordinating closely. Clear communication is equally important. By providing transparent information, the government can help prevent panic buying and encourage voluntary energy conservation. Any expansion of the vehicle rationing system to private users should be carefully designed to minimize disruption for those who depend on cars for their livelihoods and essential daily activities nationwide. 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.

This article is by Lee Jian and read by an artificial voice. HONG KONG — A thunderous, synchronized applause erupted within the pristine, glass-walled confines of Christie's salesroom at The Henderson. The final gavel had fallen, punctuating an evening of high-stakes financial ballet. In about 90 minutes, 37 lots were paraded, contested and hammered down, racking up a staggering $83.8 million. When combined with the subsequent day sales, Christie's 20th/21st Century Spring Sale series generated approximately $114 million in just 48 hours. The evening sale, widely regarded as the main event, featured high-profile and historically significant works, including those by Gerhard Richter, David Hockney, Claude Monet (1840-1926), Pablo Picasso (1881-1973) and Vincent van Gogh (1853-1890). It offered all the drama, tension and calculated art of capitalism's finest theater, where the boundary between cultural appreciation and raw acquisition became indistinguishable. The performance began at 7 p.m. sharp on Friday. As the house lights dimmed and the hum of socialite chatter faded into a reverent hush, the stage was set. Adrien Meyer, Christie's Global Head of Private Sales, took the rostrum with the practiced poise of a seasoned conductor. He wasted no time, opening the night with "In the Excitement of Dying" (2022) by Li Hei Di, a Chinese artist still in her twenties. The bidding for Li's work served as an immediate adrenaline shot to the room. Starting at 400,000 Hong Kong dollars ($51,110), the price climbed with dizzying speed. It became a public duel between a woman in the front row and a phalanx of specialists manning the telephones. In less than two minutes, the hammer fell at 1.5 million Hong Kong dollars. The tone was set: the room was hungry and wallets were open. The momentum surged forward with the classics. Monet's "La Maison à travers les roses" (1925-26), a late-career masterpiece of light and color, rose from an opening bid of 10 million Hong Kong dollars to a final hammer price of 18.5 million Hong Kong dollars. But the evening's first true emotional peak arrived with Lot 7: van Gogh's "Meisje in het bosch (A Girl in a Wood)" (1883). This was not the van Gogh of sun-drenched sunflowers or swirling starry nights, but a modest-sized oil on canvas from his early Dutch period depicting a dark, somber forest scene. Bidding opened at 5.5 million Hong Kong dollars and quickly narrowed to a tense standoff between an anonymous absentee bidder and a persistent voice on the telephone. The tension in the room was a physical weight. The telephone bidder moved slowly, adding an extra million Hong Kong dollars with agonizing deliberation, seemingly securing the prize. Then, in a moment of pure theatrical timing, a third buyer jumped in at the final second via another telephone line. The audience let out a collective gasp as if it were watching a plot twist in a Broadway thriller. The piece hammered at 27 million Hong Kong dollars to the last surprise bidder. Throughout the frenzy, Meyer maintained a calculated gravitas, even as he gestured toward the van Gogh with a salesman's flourish. The cognitive dissonance was jarring when he said, "The van Gogh, right here, could be yours," invoking the Dutch master's name as if it were a vintage Hermès Birkin. The irony was impossible to ignore. This painting, with its muddy browns and heavy shadows, was van Gogh's tribute to the grueling reality of peasant life. He painted it while enduring extreme poverty, social isolation and the looming specter of mental collapse. Now, over a century later, it served as a high-status centerpiece for the global elite. The prevailing atmosphere was that this — the spending of fortunes — is fun. While others might decompress with a beer or a musical, this demographic consumes art as an immersive show. The audience was a mix of the curious and the powerful, carefully segregated: the spectators in the back and the "players" with bidding paddles in the fro...

This article is by Lee Jian and read by an artificial voice. HONG KONG — A white-glove sale. The auction jargon refers to the rare event that an auction sells 100 percent of its offered items, implying that because every object on sale found a buyer, the staff do not have to get their hands dirty returning them to storage. And in that sense, no hands will be getting grimy after Christie's Hong Kong 20th/21st-century high-profile evening sale on Friday. Selling all of its 37 artworks, the result marks a robust start to the auction house's year in Asia and bolsters the hopeful narrative of the art market's comeback from its post-Covid slump. The auction generated 655. 8 million Hong Kong dollars, or $83.8 million, including the buyer's premium. It is 17 percent higher than that of last year's same March sale. "That was a magnificent auction on our 40th anniversary year in Hong Kong, selling through 100 percent. What a room that was. The energy was great," President of Christie's Asia Pacific, Rahul Kadakia, told reporters during the post-sale news conference at The Henderson in Central, Hong Kong, on Friday. He also highlighted the hammer prices that were 117 percent above the low estimate — the minimum price the auction house expected the item to sell for — as not only an indicator of a successful Christie's sale but also a meaningful signal of a rebounding art market. "Success of an auction also depends on how much better it does against the low estimate of the piece, and the fact that the sale was almost 120 percent higher against that estimate is a good sign of the healthiness of the market for clients paying above low estimates and actively chasing works of art at the auction," said Kadakia. Gerhard Richter's "Abstraktes Bild," a 1991 scarlet abstract painting, led the sale at $11.8 million. One of 27 works in the namesake series, this is the second largest "Abstraktes Bild" that Richter created. Its sale on Friday was its auction debut, previously owned by Galerie Liliane and Michel Durand-Dessert in Paris and subsequently acquired by a private collection in France in 1991 before being sold to an unnamed owner in 2015. The painting did however sell about $255,000 below the low estimate on the hammer. "It was still a solid sale that we are happy about," responded Ada Tsui, head of the 20th/21st Century Art Department at Christie's Asia Pacific. Sanyu's (1895-1966) "Cheval agenouillé sur un tapis" (1950s-60s), a nod to the Year of the Horse, realized $8.2 million after a heated competition on multiple telephones. The work was last seen in the market half a century ago, from the Lévy family — Sanyu's major patron — collection. Walter Spies' (1895- 1942) Balinese landscape "Blick Von Der Höhe (A View From the Heights)" (1934) realized $7.6 million, breaking the artist's world auction record. Korean artists Lee Ufan, Rhee Seund-ja (1918-2009) and Lee Bae were also included in the evening's lot. Lee Ufan's "From Line" (1978), a meditative monochrome painting comprising 29 cobalt blue, vertical lines, fetched $1.27 million. Rhee's "Une anémone sauvage (A Wild Anemone)" (1962) was realized at $730,250 and Lee Bae's "Brushstroke-9F" (2023) at $308,329. For the first time, an Old Master painting was included in the Hong Kong Evening Sale — a still-life by 17th-century Dutch artist Johannes Goedaert (1617-1668) sold for $1.3 million, more than double the lowest estimate. "It's the first time we're putting [an] Old Master in our sales, and I don't think it's going to be the last time," said Deputy Chairman, Head of Contemporary Art in the Asia Pacific, Cristian Albu. The highlights of the following day sales on Saturday included Indonesian artist Christine Ay Tjoe's "...to See the White Land" (2012) realized at $2.2 million and Zao Wou-ki's (1920-2013) "18.03.63" (1963) realized at $1.9 million. Evening and day sales combined, Christie's Hong Kong sold through 94 percent of its lots and generated approximately $114 million. Tsu...

This article is by Sarah Chea and read by an artificial voice. With the protracted Iran war disrupting jet fuel supply, fuel surcharges at Korean airlines are set to triple, which could add as much as 400,000 won ($270) to the cost of a round-trip ticket. Some flights have already been canceled, and airlines are announcing across-the-board reductions in operations. Oil prices, closely intertwined with currency movements and acutely sensitive to geopolitical shocks, are expected to dampen demand for long-haul routes, thereby compounding financial pressures on airlines over the longer term. Heavier tickets, bigger bills Korean Air recently spiked its fuel surcharges on tickets issued from April, with one-way fees for its longest-haul routes — those exceeding 6,500 miles, including Incheon to New York and Toronto — climbing more than three-fold from 99,900 won in March to 303,000 won. That means each passenger will have to pay an additional 400,000 won for a round-trip ticket. For a family of four, that translates into an additional burden of up to 1.6 million won for the trip. On most European routes, including London, Paris and Frankfurt, surcharges will jump from 79,500 won to 276,000 won, while even fees for short routes, under 499 miles, such as Fukuoka in Japan and Qingdao in China, will rise from 13,500 won to 42,000 won. Asiana Airlines also hiked its surcharge for a ticket to New York from 78,600 won to 251,900 won, while its Fukuoka route saw fees jump from 14,600 won to 43,900 won. "After the fuel surcharge announcement, ticket inquiries are on the rise, but mainly on short-haul routes rather than long-haul ones," said a source at one of Korea's major airlines. "A fuel surcharge doesn't fully offset all of the rising oil prices," they continued. "If this trend continues, surcharges will climb even higher in May, and if it drags on, it becomes truly perilous." Set every month, fuel surcharges are additional fees imposed by airlines to offset losses stemming from rising oil prices, which account for roughly 30 percent of total airfare prices. These surcharges are calculated based on the average price of Singapore jet fuel, which uses a 33-tier pricing system. That price has surged to Level 18 between Feb. 16 and March 15 from Level 6 in the previous month — an increase of 12 levels in just a month, marking the steepest monthly jump since the current pricing mechanism was introduced in 2016. Even during the sharp run-up in oil prices following the Russia-Ukraine war in 2022, the index only climbed by eight levels over three months. Korean Air uses around 30 million barrels of jet fuel every year and each $1 increase in the price of oil translates into roughly 45 billion won in additional annual costs. Fuel surcharges on Air Premia's New York routes, priced in U.S. dollars, will jump from $57 this month to $194 next month. On T'way Air's Paris flights, surcharges will rise from 67,600 won to 213,900 won. Air Busan and Jin Air have also increased fuel surcharges on their Incheon–Fukuoka routes by more than three-fold. The surge in fuel surcharges among Korean carriers is far steeper than that at foreign airlines, largely due to Korea's heavy reliance on Middle Eastern crude. Airlines such as Thai Airways and United Airlines have responded not with separate surcharges but by raising base fares by roughly 5 to 20 percent. Carriers without fuel surcharges, like Air France and KLM, have increased long-haul ticket prices by about 50 euros ($58). "Once oil prices rise, they rarely come down quickly, and it takes even longer for those increases to be reflected in airfares, which inevitably forces fuel surcharges to climb gradually," said Professor Lee Hwi-young at the Department of Airline Service Management at Inha Technical College. "Oil prices are closely linked to exchange rates, and a stronger won tends to dampen travelers' willingness to spend," Lee added. "While demand for long-haul routes is plunging, the absolute vo...

This article is by Choi Hye-ri and read by an artificial voice. Veteran author Lee Geum-yi, whose stories for children and teenagers have resonated across generations, is once again drawing international attention after making the final short list for the Hans Christian Andersen Award for the second time. "At first, I thought I simply had a different kind of childlike innocence from other people," Lee said. "Recently, though, I realized there is a child inside me who never got to grow up. That child keeps asking me to go on telling its stories." Lee, 64 years old, is a novelist with a 42-year career whose books include "With Yeonggu and Heukgu" (1991, translated), "You Too Are a Twilight Lily" (1999), "Yujin and Yujin" (2004), "Sohee's Room" (2010) and "B-cut for you" (2023). Still, it was only recently that she came to understand why she had spent more than 30 years writing stories for children, beginning with her debut work, she told the JoongAng Ilbo at its headquarters on March 18. That long and intense reflection is now reaching the world. In January, news broke that she had made the final short list for the Hans Christian Andersen Award for the second time. "When I first made the short list in 2024, I had no expectations, so it felt like a bonus," the writer said. "Up until I made the short list this time, the pressure was enormous, but now I actually feel at ease and find myself thinking of the people I am grateful to." The Hans Christian Andersen Award, established in 1956 in honor of Danish fairy-tale writer Hans Christian Andersen (1805-75), is awarded every two years to one writer and one illustrator who have contributed to the development of children's literature. Each country's Andersen committee recommends its national candidate to the International Board on Books for Young People (IBBY), and an international jury selects the winners based on the creator's body of work. For books written in languages other than English, English translations must be submitted for the international jury. This year's winners will be announced on April 13 at the Bologna Children's Book Fair in Italy. The books Lee and the Korean Board on Books for Young People submitted this time were "Can't I Go Instead" (2016) and "The Picture Bride" (2020), both of which have been published in English, along with "One Night" (2016), "Bamti Village Marie's House" (2024, translated) and "B-cut for you," which were translated into English for judging because no separate English editions had been published. "The books published in the English-speaking world are part of my female diaspora trilogy," Lee said. "I chose 'One Night,' a fairy tale for younger readers, 'Bamti Village Marie's House,' the latest in the Bamti Village series that I have continued for more than 30 years, and 'B-cut for you,' a novel whose protagonists are children who say they dream of becoming YouTubers. I wanted to show the world what I have created as a writer." One of her best-known works, "Yujin and Yujin," had been included in the 2024 submission and was left out this time. Even the novels in her female diaspora trilogy, which are generally classified as general fiction, were, in fact, written for adolescents, according to Lee. "Can't I Go Instead," "The Picture Bride" and "Cracks of Sorrow" (2025, translated) each begin with the story of a 7-year-old, 18-year-old and 13-year-old girl, respectively. All three books were later republished in young adult editions. "From a copyediting standpoint, there were no major changes, but by republishing them under the '1318' series for teenagers, we thought young readers would be able to approach the books more freely from their own perspective," said Yoon Seol-hee, an editor at publisher Sakyejul. 1318 is the publication's teenage-exclusive series. That is not the only thing Lee pays close attention to when it comes to young readers. "I try to bring out revised editions as often as possible when circumstances allow," she said. "...

This article is by Shin Ha-nee and read by an artificial voice. 21일 그룹 방탄소년단(BTS)의 'BTS 컴백 라이브: 아리랑'이 서울 광화문광장에서 펼쳐지고 있다. [사진공동취재단] 'BTS 2.0' kicks off in Gwanghwamun as septet returns in triumphant fashion 'BTS 2.0' 출범 알린 광화문 공연…완전체 귀환의 화려한 시작 Korea JoongAng Daily 1면 기사 Monday, March 23, 2026 BTS delivered a monumental performance on Saturday night in the heart of Seoul, which unfolded like a layered work of cultural storytelling, rich with symbolism. monumental: 기념비적인 unfold: 펴다, 펼쳐지다 layered: 층이 있는 symbolism: 상징주의, 상징 방탄소년단(BTS)이 토요일(3월 21일) 밤 서울의 중심부에서 상징성으로 가득한 다층적 문화 서사를 담은 기념비적 공연을 진행했다. The historic show, taking place at Seoul's Gwanghwamun Square, traced the world's biggest K-pop group back to its roots — while also reflecting on its place as a global phenomenon and declaring the beginning of "BTS 2.0." trace: 추적하다, 찾아내다 phenomenon: 현상, 경이로운 사람 광화문 광장에서 열린 이번 역사적 공연은 세계 최정상에 선 그룹의 시작점을 돌아보는 동시에 글로벌 현상으로서 현재의 위상을 비추는 한편, 'BTS 2.0'의 시작을 선언했다. "It's truly, truly an honor to be able to perform at Gwanghwamun, one of the most historic places in Korea," said member Suga at the beginning of the show. "Especially with this album, we wanted to include our identity," the rapper continued, "which led to the album's title, 'Arirang.'" identity: 신원, 정체성 공연의 서두에서 슈가는 "한국에서 가장 역사적인 장소인 광화문에서 무대를 할 수 있게 되어 정말 정말 영광"이라고 말했다. 이어 "특히 이번 앨범에는 저희의 정체성을 담고 싶어 타이틀을 '아리랑'으로 정했다"고 설명했다. "BTS The Comeback Live: Arirang," held a day after the release of the septet's fifth full-length "Arirang," took place at Gwanghwamun Square in Jongno District, central Seoul, on Saturday. This marked the first time a K-pop act had held a stand-alone show at the historic venue. septet: 7인조, mark: 기념하다, 표시하다 stand-alone: 독립형의, 단독의 'BTS 컴백 라이브: 아리랑'은 7인조의 정규 5집 '아리랑' 발매 바로 다음 날 광화문 광장에서 펼쳐졌다. K팝 가수가 이곳에서 단독 공연을 연 것은 이번이 최초이다. The event was livestreamed globally by Netflix, the first time the streaming giant has broadcast a Korean live event worldwide. livestream: 생중계하다 broadcast: 방송하다 이번 행사는 넷플릭스를 통해 전세계에 생중계됐다. 넷플릭스가 한국에서 열린 행사를 글로벌 라이브로 송출한 것은 이번이 처음이다. "While preparing this album, we felt afraid at times," said Jimin, reflecting on the months the members spent preparing for the new album. "But we firmly believe that if we include even those feelings and keep swimming together, we'll find the answer someday." reflect: 비추다, 깊이 생각하다 firmly: 단호히, 확고히 지민은 신보 발매 전까지 지난 수 개월 간의 기간을 돌아보며 "저희도 이번 무대를 준비하면서 두려웠다"면서 "그런 마음까지 담아서 저희가 다같이 함께 헤쳐나가다 보면 꼭 해답을 찾을 거라고 굳게 믿고 있다"고 말했다. [중략] As expected from the title of the group's new album, "Arirang" — which got its name from a collection of Korean folk songs — the performance placed the spotlight on BTS's cultural identity. Throughout the evening, the show explored the intersection of the septet's Korean roots and its current status as a global pop phenomenon. folk song: 민요 place: 놓다, 배치하다 explore: 탐구하다, 분석하다 intersection: 교차로, 교차 지점 한국의 전통 민요에서 따온 앨범의 제목, '아리랑'으로 알 수 있듯이 이번 공연은 BTS의 문화적 정체성에 초점을 맞췄다. 이날 밤 컴백 무대에선 일곱 멤버의 한국적 뿌리와 현재 이들의 글로벌 현상으로서의 위상이 맞닿는 지점을 다루었다. Behind the main stage, measuring 18 meters wide (59 feet) wide and 10 meters long, a cube-shaped structure stood against the backdrop of Gwanghwamun, framing the historic gate like a piece of art. During the performance, the seven members walked out along an extending stage into the standing section, bringing them closer to their fans, known as ARMY. measure: 측정하다 against the backdrop of: ~을/를 배경으로 본 무대 뒤편엔 가로 18m, 세로 10m 규모의 큐브 형태 구조물이 광화문을 배경으로 설치돼, 마치 하나의 예술 작품처럼 역사적인 공간을 한 장면에 담아냈다.공연 중 일곱 명이 돌출 무대를 따라 스탠딩 구역에서 '아미'로 불리는 자신의 팬들과의 거리를 한층 좁혔다. The show kicked off at 8 p.m. with the sound of a bell ringing, featuring an opening performance by 50 dancers. The members emerged between the performers, who lined both sides of the stage, in a dramatic introduction that paid homage to Korean heritage. Leader RM, however, had to remain seated during some of the performances, as he injured his ankle during rehearsal. kick off: 시작하다 pay homage: ~에 경의를 표하다 heritage: 유산 종소...

Kwack Min-soo The author is the director of the Korea Institute of Egyptology. According to the third-century B.C. historian Manetho, Egypt's First Dynasty began with Menes, who is said to have unified Upper and Lower Egypt and established Memphis as the capital of a newly consolidated state. Estimates of his reign vary widely, ranging from about 30 to 62 years, depending on the source. Menes also appears in later king lists. The Abydos King List and the Turin King List both record a ruler named "Meni," widely considered to be Menes, as Egypt's first pharaoh. But these records were compiled during the 19th Dynasty of the New Kingdom, between 1292 and 1189 B.C. — roughly two thousand years after the period in which Menes is believed to have lived. The difficulty lies in the absence of evidence. Archaeological remains and written records from the era attributed to Menes do not definitively confirm his existence. It is not an exaggeration to say that there is no clear-cut material proof of him. Historical records alone do not automatically carry evidentiary value since their reliability is established only when they can be cross-checked with other sources or supported by archaeological findings. One of the few pieces of archaeological evidence often discussed is an ivory label discovered at Naqada. The artifact features a serekh, a palace-like frame used to enclose a royal name, inscribed with the name "Aha." This is generally interpreted as referring to Pharaoh Hor-Aha. Next to it, the sign "mn" appears, which some scholars identify as the name Menes. However, interpretations of this inscription vary. There is an ongoing debate over whether "mn" represents a personal name or a verb. Scholars also disagree on whether Hor-Aha and Menes were the same individual. Some researchers suggest that names such as Menes or Meni may not refer to a specific person but rather function as a title describing a ruler who achieved political unification. Another candidate for Egypt's first pharaoh is Narmer. His existence is firmly supported by archaeological evidence, most notably the Narmer Palette. While debate continues over whether Narmer can be identified with Menes, his historical presence itself is not in doubt. The identity of Egypt's first pharaoh, therefore, remains unresolved. Though Menes occupies a prominent place in later historical tradition, the lack of contemporary evidence leaves room for competing interpretations. 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.

Kim Won-bae The author is an editorial writer at the JoongAng Ilbo. In the early hours of Sept. 18, 1996, a North Korean submarine ran aground off the coast of Gangneung. While many had heard of the 1968 Blue House raid by Kim Shin-jo's commando unit, few imagined North Korean forces infiltrating deep into the country from the east. Back then, I was a reporter covering social affairs, and traveled to Gangneung to report on the incident. For about a week after the incident, military authorities did not strictly control the press, allowing reporters to visit the scene. One night, I came across soldiers lying in ambush on a mountainside. The memory of that hour has remained vivid in my mind after all this time. After the incident, many North Korean crew members died in an apparent explosion, while those who escaped were special forces operatives. South Korean troops had already suffered casualties from surprise gunfire. The night air was cold, and some South Korean soldiers in trenches trembled under the intense stress. I felt the same fear: It was a primal anxiety that unseen enemies might fire at any moment. National security at that moment was no abstract slogan but a matter of survival. Over 49 days of operations, 18 soldiers, police officers, reservists and civilians were killed. This year marks the 30th anniversary of the incident, raising the question of how well their sacrifices are remembered. Korean society has long been shaped by resistance to foreign invasions. From the Imjin War to the Japanese occupation and the Korean War, the military has been viewed as a force that protects the nation from external threats. Many of Korea's historic heroes are remembered for defending the country. Today, however, the context has changed. Korea depends heavily on global trade and energy imports, meaning security is no longer confined within national borders. Recent international developments highlight this reality. The Russia-Ukraine war has underscored the continued importance of power politics. More recently, tensions between the United States and Iran have disrupted the Strait of Hormuz, driving up oil prices and affecting the global economy. In such circumstances, the scope of national security inevitably extends to wherever national interests are at stake. If conflicts intensify, calls for burden sharing among allies could grow stronger. While key U.S. allies currently remain cautious, Korea could face difficult choices if the situation escalates, whether in this crisis or another in the future. Korea's navy already operates overseas through the Cheonghae Unit. While its current missions focus on anti-piracy operations, the nature and risks of such deployments could change as threats evolve. Even with advanced equipment, the uncertainty of not knowing when or where danger might arise remains. The fear felt in such situations is unlikely to differ much from what soldiers experienced 30 years ago. Recognizing and respecting those who carry out their duties under such conditions is essential. The film "Ray" (2004), which depicts the life of American singer Ray Charles, includes a scene set in 1948 in which the protagonist boards a long-distance bus. A white driver initially treats him harshly due to his race and blindness. When Ray falsely claims he lost his sight during the Normandy landings, the driver's attitude changes and he offers him a seat in the back. Even in an era of severe racial discrimination, wounded World War II veterans commanded respect. A similar sense of respect was evident in the United States on Feb. 24, when U.S. President Donald Trump delivered a state address to Congress. The highlight of the event was the recognition of retired Col. Elmer Royce Williams, a 100-year-old Korean War veteran credited with downing four Soviet MiG fighters in a single engagement. First lady Melania Trump presented him with a medal as lawmakers from both parties rose to applaud. Korea's response to its own veterans has n...

Choi Jin-seok The author is a Principal of the Saemal Saemomjit School. There is a phrase in classical Chinese: "The rise and fall of the world rests with ordinary people." It means a nation's fate is shaped by common citizens. But the same citizens can also help destroy it. The "foolish crowd" is not simply a group with little knowledge. It is a group that has given up thinking for itself and does not even realize its intellectual growth has stopped. Its fatal weakness is that it cannot see structure and remains trapped in visible phenomena. The same difference appears when people look at a house. Someone with a low level of awareness is captivated by flashy lighting and wallpaper. Someone who understands the essence of a house looks instead at the frame and hardware hidden behind the walls. When mold appears on wallpaper, the foolish crowd simply pastes new wallpaper over it. A person with deeper awareness looks for structural defects such as condensation or leaking pipes. Every great force in the world comes not from phenomena but from structure. To be intelligent is to extract the signal of structure from the noise of appearances. The fact that greater wealth goes not to the person who plants and harvests onions but to the one who controls the distribution system also shows the overwhelming power of structure. History shows how a crowd that cannot see structure damages the pillars of the national house. The Roman Republic is a leading example. After overthrowing a monarchy, Rome built a republic whose essential hardware was the dispersal of power and limits on terms of office. But as small farmers collapsed and inequality deepened, the public grew sick of complex and tedious legal procedures. They longed for a single powerful figure who could satisfy their hunger and quell their anger at once. Julius Caesar emerged in that moment. He distributed land to poor citizens and offered dazzling gladiator games, presenting himself as the people's savior. But those who destroy most thoroughly do not rush. Caesar did not make the crude mistake of seizing a crown in one move. Using the crowd's fervent applause as his engine, he relied on the dictatorship, an office originally allowed only for six months in a state emergency. The system was supposed to return to normal once the emergency ended. Instead, he gradually extended his term in the name of crisis. In 44 B.C., he became dictator for life and tightened his grip on the republic. Outwardly, he used an existing title, but in substance, he had become an absolute ruler. It was as if a carpenter hired to repair a house had cut away its pillars and turned them into his own chair. What is striking is that even this destruction of structure proceeded under constitutional forms. The Senate and the popular assemblies still appeared to confer authority. To the foolish crowd, the process looked like a just and orderly reform. But once the system came to depend entirely on one man's goodwill and ability, Rome began to lose the civic pride of the republic and to turn into a vast and corrupt bureaucratic state that entrusted its fate to an emperor's whims. The collapse of the Weimar Republic, once praised as one of the most democratic systems of modern times, offers an even more refined example of structural destruction. The Weimar Constitution was progressive, but it contained a fatal flaw in Article 48, which granted the president emergency powers. Hitler offered suffering Germans simple promises: a strong Germany and bread. While the public was intoxicated by Nazi agitation and splendid uniforms, he used Article 48 as a stepping stone and passed the Enabling Act, which handed parliament's legislative power to the government. With that, the minimum structures of restraint, including judicial independence and press freedom, evaporated. In the empty space left by the vanished structure, only the will of a deranged leader remained, and that led to one of history's greatest tragedies. Thos...

As conflict in the Middle East drags on, uncertainty in the global energy market has intensified. In response, the government has mobilized a range of short-term measures, including a 25 trillion won ($17 billion) supplementary budget, price controls and nationwide conservation campaigns. Restrictions on vehicle use have expanded from the public sector to major corporations, while electricity-saving measures are being enforced. President Lee Jae Myung, at a second emergency economic review meeting, said the government would refrain from raising electricity rates and urged public cooperation in conserving energy. Such steps may be unavoidable in a crisis. However, relying on what is often described as "wringing a dry towel" falls short of addressing the scale of the current challenge. The core issue goes beyond disruptions in the Strait of Hormuz to what can be described as the weaponization of resources. Geopolitical conflict is destabilizing energy supply chains, with cascading effects on production, prices and broader economic stability. Without structural solutions, repeated crises will likely force the public to bear the burden each time. Distortions in Korea's energy pricing system have already exposed their limits. Electricity rates, kept artificially low for political reasons, have encouraged excessive consumption. At the same time, the financial deficit of Korea Electric Power Corp. has continued to expand. The recent revival of a maximum price system for oil, the first in 30 years, along with expanded fuel tax cuts, risks deepening these distortions. Under such conditions, conservation campaigns alone are unlikely to deliver meaningful results. A more fundamental response is required. At its core is a redesign of the country's energy mix. The government's decision to raise nuclear power utilization to above 80 percent and to restart reactors under maintenance is a necessary, if belated, step. Reducing dependence on expensive oil and liquefied natural gas is essential to strengthening energy security, and nuclear power remains a key baseload source. Reactors that meet safety standards should be brought back online without delay. Extending the operating life of existing plants, as practiced in advanced economies, should also be considered. The current energy crisis is not a temporary shock but an enduring condition. A comprehensive strategy that integrates nuclear power expansion, renewable energy development and grid upgrades is needed. Moving beyond price controls and conservation campaigns toward a more balanced and resilient energy mix is essential for navigating an era of persistent uncertainty and repeated geopolitical shocks. 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.

This article is by Sarah Chea and read by an artificial voice. Korea is imposing a five-month ban on naphtha exports beginning at 12 a.m. Friday, in a bid to cushion energy disruptions stemming from the Iran war. To rein in surging fuel costs, the government set a second-round price cap at 1,934 won ($1.3) per liter for gasoline and 1,923 won per liter for diesel — levels officials say could shave as much as 500 won off prices compared with an unregulated market. Korea is currently mulling over raising the national resource crisis alert to "serious" — the third-highest level of the four-tier system — and is preparing to release 22.46 million barrels of strategic reserves in line with International Energy Agency agreements. Fuel tax cuts will be extended through the end of May, while the ban on hoarding and the sales refusals for urea and diesel exhaust fluid will begin on Friday. The measures were unveiled on Thursday at an emergency economic review meeting chaired by President Lee Jae Myung, as the prolonged war in the Middle East has effectively choked the Strait of Hormuz, disrupting flows of crude oil, liquefied natural gas (LNG) and other critical materials. Naphtha export ban: Efficacy in doubt Starting Friday, all naphtha exports will be restricted, with shipments permitted only in exceptional cases upon approval from the industry minister. Refiners and downstream petrochemical firms will be required to submit daily reports detailing production, imports, usage, sales and inventories. Often dubbed the "rice of industry," naphtha is a critical feedstock for petrochemicals used in semiconductors, automobiles and a wide array of manufacturing supply chains. Korea relies on imports for roughly 45 percent of its naphtha demand, with 77 percent of those imports sourced from the Middle East. Affected by naphtha supply constraints, LG Chem has already halted operations at its No. 2 naphtha cracking center (NCC) in Yeosu, a facility capable of producing 800,000 tons of ethylene annually. Yeochun NCC has also suspended olefin conversion processes to recalibrate output. As a key input for plastics and vinyl, naphtha disruptions have already triggered early signs of panic buying, including stockpiling of trash bags. Yet the policy's impact remains uncertain as naphtha exports account for less than 10 percent of domestic refiners' output, raising questions about how much relief the curbs can deliver. SK Innovation supplies nearly all of its naphtha to its affiliate SK geo centric, while HD Hyundai Oilbank similarly directs substantial volumes to Hyundai Chemical for domestic use. "From March 1 to 20, naphtha exports accounted for 11 percent of domestic total production," said Yang Ki-wook, director-general of the Office of Industry, Trade and Resource Security at the Ministry of Trade, Industry and Resources on Thursday during a press briefing. "Export restrictions alone will not fully resolve domestic shortages. But every incremental volume matters, and redirecting supply to petrochemical firms will provide meaningful support." Separately, the government set a second fuel price cap at 1,934 won per liter for gasoline and 1,923 won for diesel, aiming to shield households from runaway energy costs. The measure takes effect at 12 a.m. Friday and remain in place for two weeks. "Frontline gas stations must fully cooperate with the second price cap on refinery supply prices taking effect tomorrow," President Lee Jae Myung said at the meeting. "As a supplementary budget plan tied to the war response set for release next week, the priority now is flawless execution." Fuel tax cuts deepened through May The government will expand fuel tax cuts from March 27 through May 31, raising the reduction rate on gasoline from 7 percent to 15 percent and on diesel from 10 percent to 15 percent. The deeper cuts will widen price relief by 65 won per liter for gasoline, and 87 won per liter for diesel, compared to current levels. Separately, a ban on...

This article is by Lee Jian and read by an artificial voice. [INTERVIEW] Running one museum is demanding. So imagine what it's like for Choi Eun-ju, the director of the Seoul Museum of Art (SeMA), who runs eight. With the opening of the Seo-Seoul Museum of Art in Geumcheon District, southern Seoul, earlier this month, the Seoul Metropolitan Government has completed its yearslong project to build an eight-branch network of museums across the capital. The first SeMA was founded in 1988 and moved to its current location next to the Deoksu Palace in Jung District, central Seoul, in 2002, occupying a former Supreme Court building dating back to 1928. The six others are the Seoul Museum of Art, also in Jung District; Buk SeMA in Nowon District, northern Seoul; Nam SeMA in Gwanak District, eastern Seoul; AA (Art Archives) SeMA in Jongno District, central Seoul; Photo SeMA in Dobong District, northern Seoul; Nanji Residency SeMA in Mapo District, western Seoul; and Paik Ground SeMA in Jongno District. In 2026, SeMA plans to stage 39 exhibitions across the eight venues, alongside 634 educational programs with a total curatorial and research staff of 50. The institution as a whole employs about 250 people and is supported by an annual operating budget of approximately 30 to 40 billion won ($20 to 27 million). In charge of all of this is Choi. "Many people, especially from abroad, ask if I am the only director of all SeMA facilities," she said. "And then they ask, 'How is that possible?'" Whether the question is driven by curiosity or concern, Choi is unfazed. "Of course, there have been many twists and turns, and a number of policy decisions along the way. But yes, it is possible, and it's being received very positively. I believe we have completed a system that other museums don't have," she told the Korea JoongAng Daily in an interview at the Seo-Seoul Museum of Art on March 13. Choi studied Western painting at Seoul National University and later earned advanced degrees in art theory and education. She has held senior roles at the National Museum of Modern and Contemporary Art, as well as director positions at the Gyeonggi Museum of Modern Art and the Daegu Art Museum. Since her SeMA appointment in March 2023, she has overseen the opening of three new branches, including the Art Archives Seoul Museum of Art and the Photography Seoul Museum of Art. "And now, we've opened this museum in Seo-Seoul. It is the first public art museum to open in the southwest region of Seoul. I feel truly proud," she said. But the goal wasn't only expansion in a geographical sense. Choi wanted to build a system that offers the public not just widespread access but also a greater variety of contemporary art. "We wanted the museums linked but not overlapping," she said. "If location were the only difference, exhibitions across the main building and branches could easily become similar over time. Contemporary art tends to follow certain directions and trends, so exhibitions can start to look alike." So instead, each branch has a distinct area or discipline of focus. Photo SeMA, for instance, curates shows on photography and video. Nam-Seoul SeMA concentrates on modern sculpture. Art Archives SeMA operates as a research- and materials-based institution. The newly opened Seo-Seoul Museum is dedicated to new media and interdisciplinary practices, the first public institution to center its program on these fields. Another benefit of a network structure is the ability to collaborate across branches, said Choi. A recent exhibition at Photo SeMA, for instance, drew a large portion of its exhibit from the main SeMA museum's collection to explore how fine art artists in the 1960s and 1970s used photography as an experimental medium, reframing familiar works through the lens of a completely different discipline. "Each branch operates with its own autonomy and specialization, while still being unified under the umbrella of SeMA as a single institution," Choi said. "...

The author is an executive managing director of the PB Strategy Division at Korea Investment & Securities. What was once considered the ultimate milestone in wealth management — amassing 1 billion won ($685,000) — no longer defines success. High-net-worth individuals are now seeking more than portfolio management. They want coordinators who can help shape their entire lives. For them, risk-adjusted returns are only the starting point. Greater priorities include sustainability of wealth, intergenerational transfer and overall quality of life. This shift is reshaping the nature of finance. Among the wealthy, competition has moved away from speed and toward refinement. The key is no longer how much return can be generated, but how deeply institutions understand a client's time, preferences and values. The so-called new rich are also asking a different question: not how much to earn, but how wealth transforms their lives. This calls for an expanded approach to asset management that incorporates lifestyle, emotion and social relationships. The trend is no longer limited to the wealthy. Services such as Amazon Prime, which combines logistics and content, and Korean platforms like Toss and KakaoBank, which integrate financial services into daily life, show how technology is lowering barriers. Artificial intelligence and subscription models are accelerating this shift by making concierge-style services more accessible. Within this context, "concierge finance" is emerging. Its core lies in execution. It is not just about growing assets, but about integrating wealth and life into a single system. When finance moves beyond products to offer a philosophy, it fosters stronger client loyalty. AI enables hyper-personalization, but trust and relationships remain central. Securities firms in Korea are rapidly expanding VIP concierge services along these lines. As financial services extend beyond returns to encompass quality of life, managing time — once lost, irretrievable — has become a core function. The focus is no longer on one-time luxuries such as exclusive travel or luxury goods, but on maintaining a consistently high standard of everyday living. This includes managing the freshness of ingredients, the feel of materials and even routine choices. Delivering one exceptional experience is no longer enough; sustaining that level year-round requires greater capability. In the process, financial institutions are evolving from asset managers into coordinators of daily life. For high-net-worth individuals, the most expensive cost is not money but effort — the time and energy required to identify needs and make decisions. The best concierge services solve problems before requests are made and reduce the burden of choice. Ultimately, the financial services they seek begin with products but are completed through refinement. More important than technical skill in preserving wealth is a genuine respect for the client's life. That is the foundation of concierge finance. The conclusion is straightforward. Demand for services that manage one's life does not depend on the size of assets. In any segment, those who better understand their clients will shape the 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.