1 - Korea’s e-commerce against Chinese platforms :
Chinese e-commerce platforms like AliExpress rapidly grow in Korea due to their competitive pricing and favorable regulations. This expansion threatens local Korean retailers like Coupang, which face price competitiveness and regulatory compliance challenges. The Korean government is implementing measures to monitor and regulate Chinese firms. Still, industry experts suggest revising tax and tariff policies and easing regulations for local e-commerce firms to level the playing field.
2 - Korean chipmakers to benefit from the earthquake in Taïwan :
The earthquake in Taiwan disrupted semiconductor production, emphasizing the risk of relying on a single supply chain. Major Taiwanese chipmakers like TSMC faced temporary halts, prompting calls for global supply chain diversification. Korean companies Samsung and SK Hynix will benefit from the escalating as alternative suppliers, with prices for memory chips expected to rise due to reduced supply.
3 - Korean general elections and green onions
In South Korea's upcoming April 10 election, green onions have unexpectedly become a political symbol after President Yoon Suk Yeol made comments about their price during a market visit. His remarks sparked online memes and opposition rallies featuring green onions. Voters posted pictures with green onions at polling stations, leading the National Election Commission (NEC) to ban them, citing concerns of "election interference." This decision has been widely mocked online.
4 - South Korea’s exports’ continuous growth
South Korea's exports saw a sixth consecutive month of growth in March. The 3.1% rise in exports to $56.56 billion was mainly driven by the IT sector, particularly semiconductors, reaching levels last seen in March 2022. Despite fewer working days, semiconductor exports surged by 35.7% to $11.7 billion. The U.S. surpassed China as the top export destination for the second consecutive month. Other sectors like displays, mobile phones, and computers also showed growth due to increased demand from remote work and AI-related industries.
5 - Kpop group ILLIT’s debut on Billboard charts
The new K-pop girl group ILLIT has made a remarkable debut on the U.S. Billboard charts just eight days after their introduction. Their title track “Magnetic” from the debut album “Super Real Me” secured the 63rd spot on the Global 200 and 33rd on the Global Excl. U.S. charts, marking the highest entry for a debut song by a K-pop girl group on these charts. The song “Magnetic,” portrays the fervent heart of a teenage girl rushing toward her crush, the five-member group has captivated K-pop fans worldwide.
6 - Korea invited by NATO
NATO invited South Korea's President Yoon Suk Yeol and Indo-Pacific leaders to its July summit for the third year. NATO Secretary General Jens Stoltenberg emphasized cooperation against Russia's influence and concerns about North Korean and Iranian weapon supplies. South Korean Foreign Minister Cho Tae-yul attended the NATO meeting in Brussels amidst strained relations with Russia due to increased military cooperation and South Korea's recent sanctions on Russian entities.
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