u/Charming-Ad-8198

Japan Bobsled Federation chairman (also JOC vice president) used anti-Korean slur(조센징) in internal meeting after team failed to qualify for 2026 Olympics
▲ 211 r/korea+1 crossposts

Japan Bobsled Federation chairman (also JOC vice president) used anti-Korean slur(조센징) in internal meeting after team failed to qualify for 2026 Olympics

A Japanese sports official, who also serves as vice president of the Japan Olympic Committee (JOC), used a racial slur against Koreans and made personal attacks during an internal federation meeting in February. The remarks were reported on May 11 by Japanese outlet Slow News and are now drawing criticism.

Takahiro Kitano, chairman of the Japan Bobsleigh, Luge and Skeleton Federation, made the comments at a meeting held shortly after Japan's men's bobsled team missed qualification for the 2026 Milan-Cortina Winter Olympics due to an administrative error on the federation's side.

According to the report, a director identified only as "A," who was in charge of competitive performance at the time, proposed reforms to the athlete and team support system. Kitano shut him down with personal attacks: "You analyzed nothing. You had no plan. You should be ashamed to be in sports."

He then said, in effect, that "looking at results and analyzing them is something any idiot or chon can do." The word he used, チョン (chon, 조센징), is a Japanese ethnic slur for Koreans, both ethnic Koreans in Japan (Zainichi) and Koreans generally. It's widely recognized in Japan as derogatory and is not the kind of word that gets said in a professional meeting by accident.

Kitano had visited Korea just last month, meeting with the 2018 PyeongChang Memorial Foundation to discuss expanded cooperation around the PyeongChang Sliding Centre. But federation insiders say he has long made his hostility toward Korea clear internally, frequently saying "Korea cannot be trusted." At the February meeting, when A suggested strengthening ties with Korea and other Asian countries as a way forward, Kitano reportedly dismissed it outright.

Back in 2020, when COVID-19 forced the federation to cancel its annual European training camps, training in Korea was floated as an alternative. That plan was also reportedly killed by Kitano.

Kitano has chaired the federation since 2012, now 14 years running. The federation's own bylaws cap the term at 12 years, but he has remained in place without explanation. He concurrently serves as a vice president of the JOC.

Reaction inside Japanese sports circles has been pointed, with some saying the behavior "runs counter to the JOC's historical role in advancing winter sports across Asia" and that "rather than taking responsibility for the federation's Olympic qualification failure, the chairman is privatizing the organization through discriminatory remarks."

Neither the federation nor the JOC has issued an official statement.

Source (YTN, Korean)

u/Charming-Ad-8198 — 10 days ago
▲ 73 r/korea

Korean stock market rises to 6th largest in the world by market cap, overtaking Taiwan

Korea's stock market, which has been on a sustained rally, is now the 6th largest in the world by market capitalization.

As of May 11 local time, according to Bloomberg data, KOSPI sits at 6,216.22 trillion won (about $4.2201 trillion) and KOSDAQ at 660.47 trillion won (about $448.3 billion). The combined figure is 6,876.69 trillion won (about $4.6621 trillion), up 78% from the start of the year.

https://preview.redd.it/gxjsxa699m0h1.png?width=576&format=png&auto=webp&s=e194a46a4e1951c91d8f41cbaa12371c9999b28e

That puts Korea ahead of Taiwan, whose TAIEX is currently valued at NT$135.86 trillion (about $4.3319 trillion). The TAIEX is up 46% YTD, so Taiwan has had a strong year too, Korea has just had a stronger one.

Korea's market overtook the UK on April 27 and Canada on May 7 before passing Taiwan this week.

The rally is largely being driven by Samsung Electronics and SK Hynix, which have surged alongside the current semiconductor cycle. Some market watchers are now floating the possibility that KOSPI could break 8,000 and potentially push toward 9,000 or even 10,000.

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u/Charming-Ad-8198 — 11 days ago
▲ 96 r/korea

Korea posts highest Q1 GDP growth among major economies, beating China and Indonesia

Korea's Q1 2026 real GDP growth came in at 1.694%, the highest among the 22 countries that have released preliminary figures so far, according to Bank of Korea data released today (May 12).

Indonesia (1.367%) and China (1.3%) came in second and third. Those three were the only countries to post growth above 1% for the quarter.

The rest: Finland (0.861%), Hungary (0.805%), Spain (0.614%), Estonia (0.581%), US (0.494%), Canada (0.4%), Germany (0.334%), Costa Rica (0.279%), Belgium (0.2%), Austria (0.197%), Italy (0.165%), Czechia (0.153%), Netherlands (0.051%), Portugal (0.022%). France contracted by 0.005%, while Sweden (-0.21%), Lithuania (-0.444%), Mexico (-0.8%), and Ireland (-2.014%) all posted negative growth.

This is a sharp rebound. In Q4 2024, Korea grew -0.161% and ranked 38th out of 41 countries in BOK's dataset. If Korea holds the top spot once the remaining countries report, it'll be the first time Korea has led the quarterly rankings since Q1 2010 (2.343%), when post-financial-crisis trade recovery was driving Korean exports.

The Q1 surprise was again driven by exports, particularly semiconductors and IT. Exports jumped 5.1%, with net exports contributing 1.1 percentage points to GDP growth. Samsung Electronics and SK Hynix posted earnings of 57.2 trillion won and 37.6 trillion won respectively for the quarter, both well into "earnings surprise" territory.

The actual number nearly doubled the BOK's February forecast of 0.9%. Domestic and international institutions are now revising their full-year forecasts upward. The Korea Institute of Finance raised its 2026 forecast from 2.1% to 2.8% yesterday. BOK releases updated projections on May 28.

Caveat: Q2 will probably look much worse. Quarterly growth is calculated against the previous quarter, so a strong Q1 usually means a base-effect drag on Q2. The government already flagged this on April 23, saying Q2 would likely see "an unavoidable correction" due to the Q1 base effect and the intensifying impact of the Middle East war. For reference, Q1 2024 also came in unexpectedly hot at 1.174%, then Q2 2024 dropped to -0.028%.

https://preview.redd.it/f8q8grq8wl0h1.png?width=1152&format=png&auto=webp&s=d759c02fc14938fc3abc0aa26372569b19fc196e

https://preview.redd.it/rcp9irz8wl0h1.png?width=621&format=png&auto=webp&s=1870fb28499f4bf35eae73a932dfc124bb306963

Source (Yonhap, Korean)

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u/Charming-Ad-8198 — 11 days ago
▲ 67 r/korea

KOSPI didn't just touch 7,000 today. It went straight through and printed above 7,200 in the same session.

For perspective on the pace: the index first closed above 5,000 on January 27 of this year, broke 6,000 on February 25, and is now sitting north of 7,200 on May 6. That's roughly 100 days from 5,000 to 7,000, and another couple hundred points stacked on top before anyone could even write the 7,000 milestone headline.

The setup going in was already historic. KOSPI closed at 6,936.99 on May 4 after a single session jump of 5.12 percent, the second largest foreign net buy on record, leaving 63 points to 7,000 going into the Children's Day holiday. Today's open didn't pause at the milestone. It treated it like a speed bump.

What's driving it:

Semiconductors, again. SK hynix passed 1 quadrillion won in market cap on Monday, only the second Korean company ever after Samsung Electronics. The HBM cycle is doing what oil did for the Gulf states. US hyperscaler demand for HBM3E and HBM4 is locked in through long term contracts, and Samsung is back in the AI memory conversation after years of being written off as the laggard.

Foreign flows have completely reversed. The same investors who dumped 35 trillion won during the Iran war scare in March have been the biggest single buyers of the rally back. Korea's total market cap passed the UK earlier this year, making KOSPI the world's 8th largest equity market. At today's levels it's almost certainly climbing the rankings further.

The bull case from the sell side: Shinhan Securities has the annual range at 6,000 to 8,600. Their analyst pointed out that even after this run the 12 month forward PER is 7.12x, still in undervalued territory by global standards. That math is going to need updating tonight.

What to watch:

Margin loan balance hit 36 trillion won before today, a record. Short selling balance crossed 20 trillion won for the first time ever. VKOSPI is at 56, levels last seen right before the Iran ceasefire in November. Today's move is going to torch a meaningful chunk of those shorts and add fuel to the long side margin pile. Both forces compound.

Nobody seriously talked about 7,000 a year ago. Nobody talked about 7,200 this morning. Whatever the framework was for valuing this market in April, it's broken now.

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u/Charming-Ad-8198 — 17 days ago