Indonesian Stocks Plunge as MSCI Threatens to Drop Market from Indexes

New York Times - Oct 16, 2026

The potential downgrade by MSCI, an influential index provider, adds to a deepening crisis of investor confidence in the economic policies of Indonesian President Prabowo Subianto.

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Defense ministry refutes Pyongyang's claim questioning Seoul's test of hypersonic glide vehicle

Oct 16, 2026

Defense ministry refutes Pyongyang's claim questioning Seoul's test of hypersonic glide vehicle

South Korea's defense ministry on Thursday refuted a claim by North Korea's missile chief that questions Seoul's recent test launch of a hypersonic glide vehicle (HGV). Earlier in the day, Jang Chang-ha, director-general of North Korea's Missile Administration, claimed that South Korea's test of the HGV may not have achieved hypersonic flight because its outside appearance was "not stained with any soot," according to the North's Korean Central News Agency. Jang cited photos provided by South Korea after last Thursday's test, but Seoul's defense ministry countered by saying the vehicle has advanced thermal-protection technology and the visible appearance of "soot" is impossible during hypersonic flight. South Korea's military "plans to further develop technologies involved in the weaponization process of the HGV," the ministry said. In a rare public disclosure of the development of key military assets, Cheong Wa Dae unveiled South Korea's first test launch of the HGV. The test came amid rising inter-Korean tensions following the recent explosion of a land mine in the border area that inju

Farm raising beef for tables around the world faces threat from data center construction

Oct 16, 2026

Farm raising beef for tables around the world faces threat from data center construction

A fierce battle over artificial intelligence (AI) data centers, which are increasingly being seen as unwanted facilities, is erupting around the world among governments, companies and local residents. Korea, which is also moving quickly to expand AI data centers as one of the government's three megaprojects, is no exception. Where can we find clues to resolving these conflicts? To find answers, a Hankook Ilbo reporting team traveled to Australia Aug. 7-14 for a field investigation into how the country is preparing for the future with AI data centers. Australia is seeking to make AI data centers its next major growth industry after minerals and wool. Residents are banding together to make their voices heard and searching for rules that will allow people and AI data centers to coexist. In August, winter fog in the Southern Hemisphere swallowed the morning sunlight, leaving a farm in darkness as cattle awoke to the familiar voices of an elderly couple. "Did you have any trouble during the night?" "Did you sleep well?" Every morning at 7 a.m., Paul Brackenreg, 61, and Rosalind "Rose" Murphy, 7

[WEEKENDER] 'Why not Gangnam?': Data center boom fuels fear in neighborhoods kept in the dark

Oct 16, 2026

[WEEKENDER] 'Why not Gangnam?': Data center boom fuels fear in neighborhoods kept in the dark

About 20 people gather every morning in front of Geumcheon District Office in southwestern Seoul, holding signs and staging protests. Most are in their 50s and 60s and live in a large apartment complex identified only as "L," home to more than 1,700 households. Their protest, which they say is the first demonstration they have ever taken part in, marked its 203rd consecutive day on Sept. 21. They might be expected to be tired by now, but it is anger rather than fatigue that shows on their faces. The protesters are vehemently opposed to a data center. About 100 meters from the entrance to their apartment complex, construction of an eight-story data center has been underway for 11 months. Ko Young-chan, 33, a two-term member of the Geumcheon District Council who lives in L Apartment, said, "It seems data center developers came here thinking, 'Land prices in a place like Geumcheon District make the project worth trying.'" He also claimed that the data center itself would not generate tax revenue for the district. The situation is not unique to Geumcheon District. Data center projects are

President Lee's approval rating rises after dipping to lowest level: poll

Oct 16, 2026

President Lee's approval rating rises after dipping to lowest level: poll

President Lee Jae Myung's approval rating rose slightly to 39 percent after weeks of decline, a weekly poll showed Friday. The survey, conducted by Gallup Korea from Tuesday through Thursday on 1,003 people aged 18 and older, showed that positive assessments of Lee's performance increased 2 percentage points from the previous week. The figure marks a slight recovery from his record low of 37 percent recorded in the previous two Gallup polls, following a downward trend since late August. Those who disapproved of Lee's handling of state affairs rose by 1 percentage point on-week to 52 percent. Among those who positively assessed Lee's performance, 20 percent cited diplomacy, followed by economic and livelihood issues at 11 percent. Real estate policies, along with economic and livelihood concerns, were among the main reasons cited by those who disapproved of Lee's performance. Support for the ruling Democratic Party of Korea rose 1 percentage point to 36 percent after marking the lowest figure since the launch of Lee's administration last week. Support for the main opposition People Power Par

Seoul city blames ex-mayor's policies for weak long-term housing supply

Oct 16, 2026

Seoul city blames ex-mayor's policies for weak long-term housing supply

The Seoul city government on Friday blamed policies pursued under late former Mayor Park Won-soon for weakening the foundation for long-term housing supply in the capital. The municipality made the assessment in a report analyzing the city's housing policies over the past 20 years, as recent shortages in the capital have contributed to sharply rising home prices. The report said that between 2012 and 2020, while the late Park served as mayor, 389 of the 683 areas designated for city improvement projects were canceled, eliminating the opportunity to supply roughly 430,000 homes. Park, who was a member of the now ruling Democratic Party of Korea (DPK), prioritized "urban regeneration" projects that focused on preservation over large-scale redevelopment or reconstruction. The report comes as current Mayor Oh Se-hoon of the main opposition People Power Party has faced criticism from DPK lawmakers over his private-led housing supply policy. The city government under Oh plans to break ground on about 310,000 housing units by 2031 through redevelopment and reconstruction projects to respond to t

Seoul weighs expanding Cheonghae Unit operations toward Strait of Hormuz

Oct 16, 2026

Seoul weighs expanding Cheonghae Unit operations toward Strait of Hormuz

Korea is considering expanding the operating area of its Cheonghae anti-piracy unit from the Gulf of Aden to the Gulf of Oman, near the Strait of Hormuz, as it prepares to seek parliamentary approval to extend its deployment. The government is also reviewing a proposal to add a maritime patrol aircraft to the unit, according to local media reports. No decision has been made on either proposal. Defense Minister Kang Shin-chul told lawmakers Thursday the ministry was reviewing various options concerning the unit’s mission and deployment extension. The current parliamentary authorization expires Dec. 31. The Cheonghae Unit, deployed off Somalia since 2009, escorts commercial vessels and helps protect shipping routes. Its current deployment consists of a 4,400-ton destroyer, a helicopter, up to three rigid-hull inflatable boats and no more than 320 personnel. One option under consideration is deploying a P-8A Poseidon maritime patrol aircraft to expand surveillance coverage. The review comes after Washington requested military contributions from allies to help secure the Strait of Hormuz am

Korean American entrepreneur seeks memorial site for UN troops killed in Korean War

Oct 16, 2026

Korean American entrepreneur seeks memorial site for UN troops killed in Korean War

For Sunny K. Park, memories of the 1950-53 Korean War remain vivid more than seven decades later. Park, an 84-year-old Korean American entrepreneur who serves as president of the American Korean Friendship Society and the Korean War United Nations Veterans Memorial Foundation, was 8 when the war broke out in 1950. While fleeing from Seoul to Busan during the war, he witnessed scenes that would stay with him for the rest of his life — including the bodies of young foreign soldiers who had come to fight in Korea. “The bombs shattered all these people. Body parts were all over … I saw dead bodies at the rice paddy. They were about 17-18 years old,” Park said during an interview with The Korea Times, Monday. “(At the time) I didn’t quite understand why they were doing it." The war devastated the peninsula, killing millions of Koreans. Tens of thousands of international troops serving under the United Nations Command also lost their lives. Park moved to the United States in 1974 and went on to build a successful business career. As he grew older, he said he came to better understan

Main opposition slams gov't over S. Korea-US gap on OPCON transfer

Oct 16, 2026

Main opposition slams gov't over S. Korea-US gap on OPCON transfer

The main opposition People Power Party (PPP) on Friday criticized the government over what it called apparent differences between South Korea and the United States on the transfer of wartime operational control (OPCON), calling it a "serious diplomatic blunder." The criticism came after U.S. Forces Korea (USFK) Commander Gen. Xavier Brunson said earlier this week that "conditions have changed" and that calls for new standards in the OPCON transfer, citing North Korea's recent missile launches. During a parliamentary audit of military courts on Thursday, Defense Minister Kang Shin-chul said that the requirements for the OPCON transfer remained unchanged and that Seoul has conveyed its concerns to Washington. "Instead of reviewing the warning, the Lee Jae Myung administration and the Democratic Party of Korea (DPK) made a series of intimidating remarks directed at the USFK commander," Rep. Kim Tae-kyu, the PPP's chief floor spokesperson, said in a commentary. Rep. Kim also criticized the defense ministry's spokesperson for saying at an official press briefing that the transfer would never

Ex-lawmaker referred to prosecution over daughter's hiring at university

Oct 16, 2026

Ex-lawmaker referred to prosecution over daughter's hiring at university

Former opposition lawmaker Yoo Seong-min and three university officials have been referred to the prosecution for possible indictment over allegations of preferential treatment in the hiring of Yoo's daughter as a professor by Incheon National University (INU), police said Friday. The Incheon Metropolitan Police Agency said Yoo, INU President Lee In-jae and two INU professors were sent to the prosecution without detention on charges of obstruction of business. Lee and the two professors were also charged with violating the Improper Solicitation and Graft Act. The four are suspected of obstructing the university's recruitment process when Yoo's daughter, Yoo Dam, 32, was hired as a faculty member in its trade department in the second semester of last year. Lee and the two professors are also suspected of receiving improper solicitations concerning the hiring of Yoo's daughter, although investigators found no evidence that they had accepted money or valuables, the police said. The police announcement came after an investigation that began in November last year. They also questioned Yoo's d

1 firefighter in cardiac arrest, 6 others injured in Bucheon factory fire

Oct 16, 2026

1 firefighter in cardiac arrest, 6 others injured in Bucheon factory fire

One firefighter went into cardiac arrest and six other people were injured Friday following a fire at a factory in Bucheon, just west of Seoul, officials said. The fire broke out at the four-story metalworking factory at 8:38 a.m., with authorities bringing the main blaze under control about two hours later after deploying 80 firefighters. Two firefighters were seriously injured, including one who was rushed to a hospital in a state of cardiac arrest. The fire also left three other firefighters and two factory officials with minor injuries, such as smoke inhalation. Fire authorities plan to investigate the exact cause of the blaze. The factory reportedly stored flammable material. After being briefed on the fire, President Lee Jae Myung called for utmost efforts to extinguish the fire and rescue those in danger, according to presidential spokesperson Kang Yu-jung. The president also called for a thorough response to prevent further damage, citing the presence of inflammable substances inside the factory, while urging special caution to ensure the safety of firefighters battling the fire,

KTO uses digital tools, discounts to boost rural tourism

Oct 16, 2026

KTO uses digital tools, discounts to boost rural tourism

In an effort to counter rural depopulation and redirect traveler traffic away from major urban hubs, the Korea Tourism Organization is launching a new initiative aimed at boosting regional economies through targeted travel incentives. Known as the "Regional Tourism Booster," the program moves beyond traditional promotional advertising by creating a direct pipeline between local municipalities, private tour operators and digital booking platforms. Rather than simply showcasing scenic destinations, the initiative pairs digital storytelling with discounted tour packages to drive actual foot traffic and local spending in shrinking rural counties across the peninsula. At the center of the campaign is "Korea Every Corner" at the agency’s primary domestic travel portal. While the platform has long offered destination guides and travel articles, the new booster program transforms it into an active marketplace. Working with local governments, the agency is uncovering regional folklore, seasonal harvests and overlooked historical landmarks, repackaging them into mobile audio guides, social med

Reviving Korea's traditional dress in heart of Seoul

Oct 16, 2026

Reviving Korea's traditional dress in heart of Seoul

On any given afternoon near Gyeongbok Palace, the open courtyards resemble a historical pageant. Swirling skirts and embroidered coats flap against centuries-old timber pillars as thousands of visitors step out in "hanbok" — the traditional dress of Korea. Refined over more than a millennium and rooted in the Joseon Dynasty (1392 to 1910), the classic attire features fluid silhouettes: a "jeogori" (jacket) paired with a sweeping "chima" (skirt) for women or "baji" (trousers) for men. While historically tailored from hemp, ramie or silk to reflect social standing and seasonal shifts, the garments are celebrated today for their understated elegance and harmony. Driven by global interest in period dramas and modern pop culture, renting hanbok has transformed from a niche cultural activity into a highlight for domestic and international travelers exploring Seoul’s historic core. However, as costumed crowds have expanded, concerns have grown over cheap synthetic knockoffs and historical inaccuracies that obscure the authentic craft behind the garment. To counter that shift, cultural auth

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