Musinsa, which is preparing for an initial public offering (IPO) at an estimated valuation of around 10 trillion won ($7.49 billion), is drawing renewed attention in Korea's fashion and retail industries for its remarkable growth story. What began in 2001 as a small online sneaker community founded by a high school student has grown into a major platform that has helped protect Korea's domestic market from global retail giants while supporting an independent local fashion ecosystem. Its name originated from a Korean phrase meaning "a place where countless shoe photos are stored." Now marking its 25th anniversary, it has evolved into a major force in the fashion industry. According to industry sources Wednesday, Korea's fashion retail market is considered unusually resilient compared with those of other countries, where global fashion brands and large retail chains have gained stronger footholds. An analysis by global market research firm Euromonitor International shows that homegrown brands account for 70.1 percent of Korea's fashion retail market, significantly higher than the roughly
Musinsa, which is preparing for an initial public offering (IPO) at an estimated valuation of around 10 trillion won ($7.49 billion), is drawing renewed attention in Korea's fashion and retail industries for its remarkable growth story. What began in 2001 as a small online sneaker community founded by a high school student has grown into a major platform that has helped protect Korea's domestic market from global retail giants while supporting an independent local fashion ecosystem. Its name originated from a Korean phrase meaning "a place where countless shoe photos are stored." Now marking its 25th anniversary, it has evolved into a major force in the fashion industry. According to industry sources Wednesday, Korea's fashion retail market is considered unusually resilient compared with those of other countries, where global fashion brands and large retail chains have gained stronger footholds. An analysis by global market research firm Euromonitor International shows that homegrown brands account for 70.1 percent of Korea's fashion retail market, significantly higher than the roughly
Under President Donald Trump's administration, stricter immigration policies have led to an increase in the U.S. rejecting visa applications for visitors from around the globe. It is one thing for a government to reject potentially dangerous travelers, but it is another matter when the applicants are lawmakers from allied countries whose travel is halted by a visa denial. Rep. Jin Sung-joon of the ruling Democratic Party of Korea (DPK) and chairman of South Korea's National Assembly Defense Committee saw his visa application, submitted on Oct. 12, rejected. He planned to visit the U.S. Indo-Pacific Command in Hawaii from Sunday to Thursday with a delegation of members from the defense committee. "It disregards the standing of Korea’s National Assembly and undermines the mutual respect and trust that form the foundation of the U.S.-Korea alliance," Jin wrote in a Facebook post after the rejection. Former DPK chairman Rep. Jung Chung-rae also had his U.S. visa application stalled, disabling his planned visit to the United States for a parliamentary audit of Seoul's diplomatic mission. Re
Under President Donald Trump's administration, stricter immigration policies have led to an increase in the U.S. rejecting visa applications for visitors from around the globe. It is one thing for a government to reject potentially dangerous travelers, but it is another matter when the applicants are lawmakers from allied countries whose travel is halted by a visa denial. Rep. Jin Sung-joon of the ruling Democratic Party of Korea (DPK) and chairman of South Korea's National Assembly Defense Committee saw his visa application, submitted on Oct. 12, rejected. He planned to visit the U.S. Indo-Pacific Command in Hawaii from Sunday to Thursday with a delegation of members from the defense committee. "It disregards the standing of Korea’s National Assembly and undermines the mutual respect and trust that form the foundation of the U.S.-Korea alliance," Jin wrote in a Facebook post after the rejection. Former DPK chairman Rep. Jung Chung-rae also had his U.S. visa application stalled, disabling his planned visit to the United States for a parliamentary audit of Seoul's diplomatic mission. Re
Under President Donald Trump's administration, stricter immigration policies have led to an increase in the U.S. rejecting visa applications for visitors from around the globe. It is one thing for a government to reject potentially dangerous travelers, but it is another matter when the applicants are lawmakers from allied countries whose travel is halted by a visa denial. Rep. Jin Sung-joon of the ruling Democratic Party of Korea (DPK) and chairman of South Korea's National Assembly Defense Committee saw his visa application, submitted on Oct. 12, rejected. He planned to visit the U.S. Indo-Pacific Command in Hawaii from Sunday to Thursday with a delegation of members from the defense committee. "It disregards the standing of Korea’s National Assembly and undermines the mutual respect and trust that form the foundation of the U.S.-Korea alliance," Jin wrote in a Facebook post after the rejection. Former DPK chairman Rep. Jung Chung-rae also had his U.S. visa application denied ahead of his planned visit to the United States for a parliamentary audit of Seoul's diplomatic mission. Refus
Under President Donald Trump's administration, stricter immigration policies have led to an increase in the U.S. rejecting visa applications for visitors from around the globe. It is one thing for a government to reject potentially dangerous travelers, but it is another matter when the applicants are lawmakers from allied countries whose travel is halted by a visa denial. Rep. Jin Sung-joon of the ruling Democratic Party of Korea (DPK) and chairman of South Korea's National Assembly Defense Committee saw his visa application, submitted on Oct. 12, rejected. He planned to visit the U.S. Indo-Pacific Command in Hawaii from Sunday to Thursday with a delegation of members from the defense committee. "It disregards the standing of Korea’s National Assembly and undermines the mutual respect and trust that form the foundation of the U.S.-Korea alliance," Jin wrote in a Facebook post after the rejection. Former DPK chairman Rep. Jung Chung-rae also had his U.S. visa application denied ahead of his planned visit to the United States for a parliamentary audit of Seoul's diplomatic mission. Refus
1340-Battle of Rio Salado (or Tarifa): King Afonso IV of Portugal and King Alfonso XI of Castile defeat Sultan Abu al-Hasan 'Ali of Morocco and Yusuf I of Granada in the last Marinid invasion of the Iberian Peninsula 1899-Battle of Ladysmith: Boers defeat the British, leading to the Siege of Ladysmith in Natal 1905-Russian Tsar Nicholas II grants civil liberties and accepts the first Duma (Parliament) in the "October Manifesto" 1967-Dolly Parton releases her debut single with Porter Wagoner "The Last Thing On My Mind" 1973-The Bosphorus Bridge in Istanbul, Turkey, is completed, connecting the continents of Europe and Asia over the Bosphorus for the first time 1988-Brazilian McLaren driver Ayrton Senna wins the Japanese Grand Prix at Suzuka, his record 8th Grand Prix win of the season, and clinches his first Formula 1 World Drivers' Championship 1990-Britain and France complete the "Chunnel" under the English Channel
Wounds remain fresh even four years after the deadly crowd crush in central Seoul’s multicultural Itaewon neighborhood. The tragedy claimed the lives of 159 people, mostly young Koreans and including over 25 foreign nationals, who had gathered in a sloped, narrow alley near Hamilton Hotel to celebrate Halloween on Oct. 29, 2022. Nearly 200 others were injured. The festive atmosphere suddenly gave way to collective grief. The tragedy became a watershed moment in the debate over the role of government in public safety. Police received 11 calls warning of the potential danger of surging crowds before the incident, but the warnings went unheeded. Where was the state when people were dying? The Itaewon crowd crush triggered a paradigm shift in how safety is understood. Before the tragedy, safety was often treated as an issue to be addressed through relief and recovery after an accident. In its aftermath, safety has increasingly come to be recognized as a fundamental right, one that entitles people to demand proactive government action to protect the public from preventable disasters. The Fr
Wounds remain fresh even four years after the deadly crowd crush in central Seoul’s multicultural Itaewon neighborhood. The tragedy claimed the lives of 159 people, mostly young Koreans and including over 25 foreign nationals, who had gathered in a sloped, narrow alley near Hamilton Hotel to celebrate Halloween on Oct. 29, 2022. Nearly 200 others were injured. The festive atmosphere suddenly gave way to collective grief. The tragedy became a watershed moment in the debate over the role of government in public safety. Police received 11 calls warning of the potential danger of surging crowds before the incident, but the warnings went unheeded. Where was the state when people were dying? The Itaewon crowd crush triggered a paradigm shift in how safety is understood. Before the tragedy, safety was often treated as an issue to be addressed through relief and recovery after an accident. In its aftermath, safety has increasingly come to be recognized as a fundamental right, one that entitles people to demand proactive government action to protect the public from preventable disasters. The Fr
Speaking near the Acropolis earlier this month, Secretary of State Marco Rubio praised the ancient Athenians who heroically repelled Persian invaders. The administration he serves is treating Ukraine’s resistance very differently. In hopes of lowering prices before the November midterms, the White House recently struck a deal easing sanctions on Russian diesel and demanded that Ukraine stop striking Russian refineries. Two days before provisions of the recently passed Graham Act were due to take effect, the president waived broad sanctions and tariffs targeting Russia and buyers of its oil and gas. He also suggested Ukrainians “get a new president.” Beyond easing pressure on the Kremlin, the administration also reportedly threatened to withhold intelligence sharing with Ukraine and end a scheme that lets Europe buy American weapons to send to the embattled country. The mysterious throttling of Starshield, SpaceX’s military satellite service, suggests the threats were not idle. For several days, slower satellite speeds crippled Ukraine’s ability to defend against jet-powered dr
539 BC-King Cyrus "the Great" of Persia marches into Babylon, freeing Jewish captives and allowing them to return home 1268-Conradin, the last legitimate male heir of the German Hohenstaufen dynasty of kings and Holy Roman Emperors, is executed with Frederick I, Margrave of Baden, by Charles I of Sicily 1665-Battle of Mbwila [Ambuila]: Portuguese forces defeat the Kingdom of Kongo and decapitate King António I of Kongo, also known as Nvita a Nkanga 1929-Stock market crash on Wall Street, known as "Black Tuesday," triggers the Great Depression 1957-Hand grenade thrown from balcony in Israel's Knesset (Parliament) injures Prime Minister David Ben-Gurion, Foreign Minister Golda Meir, and several others 1999-Deadliest Indian Ocean tropical super cyclone hits Odisha, India, with wind speeds of 260 km/h (160 mph), killing 9,885 2015-China announces the end of its one-child policy after 35 years
539 BC-King Cyrus "the Great" of Persia marches into Babylon, freeing Jewish captives and allowing them to return home 1268-Conradin, the last legitimate male heir of the German Hohenstaufen dynasty of kings and Holy Roman Emperors, is executed with Frederick I, Margrave of Baden, by Charles I of Sicily 1665-Battle of Mbwila [Ambuila]: Portuguese forces defeat the Kingdom of Kongo and decapitate King António I of Kongo, also known as Nvita a Nkanga 1929-Stock market crash on Wall Street, known as "Black Tuesday," triggers the Great Depression 1956-Greek-American soprano Maria Callas makes her Metropolitan Opera debut in the title role of Bellini's "Norma" 2015-China announces the end of its one-child policy after 35 years
President Lee Jae Myung tried in vain to appease disgruntled farmers who remain suspicious of the administration’s motives behind the nationwide farmland survey. Korea’s potential accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has further complicated reconciliation efforts. Joining the trade pact is important for Korea’s outward-looking economy, but doing so could come at a cost to farmers. Monday’s town hall meeting was unproductive, if not an outright failure. Lee remained indecisive about the CPTPP, while his explanation of the farmland survey was evasive. He even attempted to deflect responsibility for the controversial policy, suggesting that a confrontation with farmers may be inevitable. Farmers take the survey seriously, viewing it as a direct threat to their livelihoods. They fear they could be ordered to sell their land against their will. The Lee administration’s farmland survey has become one of its most controversial policies, deepening the decline in the president’s approval ratings. The survey itself is not contro
President Lee Jae Myung tried in vain to appease disgruntled farmers who remain suspicious of the administration’s motives behind the nationwide farmland survey. Korea’s potential accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has further complicated reconciliation efforts. Joining the trade pact is important for Korea’s outward-looking economy, but doing so could come at a cost to farmers. Monday’s town hall meeting was unproductive, if not an outright failure. Lee remained indecisive about the CPTPP, while his explanation of the farmland survey was evasive. He even attempted to deflect responsibility for the controversial policy, suggesting that a confrontation with farmers may be inevitable. Farmers take the survey seriously, viewing it as a direct threat to their livelihoods. They fear they could be ordered to sell their land against their will. The Lee administration’s farmland survey has become one of its most controversial policies, deepening the decline in the president’s approval ratings. The survey itself is not contro
Seoul Mayor Oh Se-hoon saw the clouds that loomed over his political career all but disappear Friday. An appellate court acquitted the five-term mayor of violating the Political Funds Act over allegations that a supporter paid for his opinion polling. Had the ruling not been overturned and he had been slapped with a fine of 1 million won ($755) or more, Oh would have been unseated and barred from running for elected office for five years. The mayor wore a broad smile, just like when he was reelected in the June 3 local elections. His fifth-term win was unexpected, bumping up the prospects of the main opposition People Power Party (PPP). A Supreme Court ruling is pending, but the appellate court's reversal in itself speaks of a brighter political future for Oh and the PPP on the path to the 2030 presidential election. A Realmeter survey released Monday showed that support for the PPP stood at 42.6 percent compared to the 36 percent of the ruling Democratic Party of Korea (DPK), with the gap standing at 6.6 percentage points. In July, a local court found Oh partially guilty for allegedly
Seoul Mayor Oh Se-hoon saw the clouds that loomed over his political career all but disappear Friday. An appellate court acquitted the five-term mayor of violating the Political Funds Act over allegations that a supporter paid for his opinion polling. Had the ruling not been overturned and he had been slapped with a fine of 1 million won ($755) or more, Oh would have been unseated and barred from running for elected office for five years. The mayor wore a broad smile, just like when he was reelected in the June 3 local elections. His fifth-term win was unexpected, bumping up the prospects of the main opposition People Power Party (PPP). A Supreme Court ruling is pending, but the appellate court's reversal in itself speaks of a brighter political future for Oh and the PPP on the path to the 2030 presidential election. A Realmeter survey released Monday showed that support for the PPP stood at 42.6 percent compared to the 36 percent of the ruling Democratic Party of Korea (DPK), with the gap standing at 6.6 percentage points. In July, a local court found Oh partially guilty for allegedly
1492-Christopher Columbus sights Cuba and claims it for Spain under the name "Juana" 1538-The first university in the Americas, the Universidad Santo Tomás de Aquino, is established in Santo Domingo 1746-The Peruvian cities of Lima and Callao are demolished by an earthquake, killing 18,000 1831-British scientist Michael Faraday demonstrates his dynamo invention, an electric generator 1886-The Statue of Liberty is dedicated by President Grover Cleveland and is celebrated with the first confetti (ticker tape) parade in New York City 1919-The Volstead Act is passed by Congress, establishing a nationwide ban on alcohol, despite President Woodrow Wilson's veto 1924-Miner M. de Bruin discovers the infant fossil skull, "Taung child," in a lime quarry in Taung, South Africa; paleoanthropologist Raymond Dart identifies the fossil as a new hominin species, Australopithecus africanus
Somewhat unexpectedly, the global economy has weathered the challenges of the past few years extraordinarily well. Following the pandemic, shock followed shock — Russia’s war on Ukraine, Washington’s rejection of rule-based liberal trade, then most recently the war with Iran. Any one of these might’ve led you to expect a severe economic setback, let alone all three combined. Yet global output kept on growing. The International Monetary Fund’s new World Economic Outlook grapples with this puzzle — and sounds a warning that governments would be wise to heed. The system’s resilience has indeed been impressive, but there are limits. Steady growth against the odds has surprised the IMF’s economists as much as anyone: They’ve underestimated year-ahead global growth in every annual forecast since 2023. They currently expect output to expand by a respectable 3.1 percent this year and 3.4 percent in 2027, noting that some countries are doing better than others. The pattern has shifted in favor of those, like the U.S., with two key characteristics: limited exposure to the energ
This month, Ukraine’s often tumultuous diplomacy experienced a new conflict when U.S. President Donald Trump announced an energy deal with Russia and demanded that Kyiv refrain from attacking Russian oil refineries. Ukrainian President Volodymyr Zelenskyy’s criticism of Washington’s decision has resulted in Trump threatening retaliation and suggesting Ukraine should replace its leader. Ukraine has since encountered difficulties in using U.S.-provided satellite services for military intelligence, heightening fears of a further reduction in U.S. support for war-beleaguered Ukraine. Ukraine's challenge highlights what have become recurrent occurrences: U.S. allies’ vulnerability to their superpower ally’s pressures and threat of abandonment. Ukraine’s vulnerability, however, has partially been offset by the continued support from other U.S. allies. Multiple European countries have increased their aid to Ukraine’s war efforts and have advocated on the Ukrainian government’s behalf to Washington. Ukraine also has advocates within U.S. politics. Bipartisan lawmakers have crit
This month, Ukraine’s often tumultuous diplomacy experienced a new conflict when U.S. President Donald Trump announced an energy deal with Russia and demanded that Kyiv refrain from attacking Russian oil refineries. Ukrainian President Volodymyr Zelenskyy’s criticism of Washington’s decision has resulted in Trump threatening retaliation and suggesting Ukraine should replace its leader. Ukraine has since encountered difficulties in using U.S.-provided satellite services for military intelligence, heightening fears of a further reduction in U.S. support for war-beleaguered Ukraine. Ukraine's challenge highlights what have become recurrent occurrences: U.S. allies’ vulnerability to their superpower ally’s pressures and threat of abandonment. Ukraine’s vulnerability, however, has partially been offset by the continued support from other U.S. allies. Multiple European countries have increased their aid to Ukraine’s war efforts and have advocated on the Ukrainian government’s behalf to Washington. Ukraine also has advocates within U.S. politics. Bipartisan lawmakers have crit
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