South Korea

Yonhap | English | News | Dec. 5, 2025 | Geopolitical Conflict and Disputes

The U.N. Command (UNC) reaffirmed that the armistice agreement remains a "binding framework" for governing access to the Demilitarized Zone (DMZ) between North and South Korea. This statement followed South Korea's Unification Minister Chung Dong-young revealing that a senior presidential security official was recently denied entry to a war remains excavation site at White Horse Ridge within the DMZ.

Unification Minister Chung also referenced a similar incident in 2019 when a former unification minister was denied access to the civilian village of Daeseongdong inside the DMZ, highlighting growing concerns within the South Korean government that such access denials can no longer be ignored.

The UNC did not provide details on the recent denial but emphasized that all access requests are reviewed following established protocols to ensure safety, compliance, and regional stability. The UNC also encouraged close consultation with the South Korean government on any measures affecting the DMZ and underscored their commitment to joint peace-building efforts supporting shared security objectives.

The DMZ functions as a buffer zone approximately 250 kilometers long and 4 kilometers wide, established since the end of the Korean War in 1953. The UNC’s reaffirmation underscores the armistice agreement’s ongoing role in managing military and civilian activities in this sensitive area.

Joongang Ilbo | English | News | Dec. 5, 2025 | Cyber Attacks and Data Loss

Gmarket CEO James Chang acknowledged a recent cybersecurity incident involving suspected unauthorized use of customer information on the e-commerce platform. The company identified the issue on a Saturday, linking it to identity theft through credential stuffing, where stolen personal data from outside sources was used to access user accounts and make unauthorized purchases of mobile gift certificates. Gmarket conducted an internal review, which found no evidence of external hacking, and took immediate action by blocking related IP addresses and tightening security measures the same day.

The incident coincided with a separate suspected hacking case at another company, prompting Gmarket to proactively report the matter to South Korea's Financial Supervisory Service (FSS), which launched an emergency on-site inspection. The occurrence happened on the same day that Coupang disclosed a significant data breach affecting 33.7 million user accounts. Gmarket has compensated all affected customers and committed to enhancing cybersecurity awareness and protections to foster a safer environment for personal data management.

기후금융, 양적 확대 본격화…세계경제, 녹색 궤도 오를까[2026 ESG 키워드⑥]

Hankyung | Local Language | News | Dec. 5, 2025 | Climate Change

Global climate finance is becoming a trillion-dollar market and a central part of capital markets, yet a significant funding gap remains between the amounts needed and those currently raised. The year 2026 is anticipated as a pivotal turning point where climate finance will face a test of both expanding quantitatively and regaining trust. Some experts foresee 2026 marking the full-scale operationalization of climate finance efforts.

The Climate Policy Initiative estimates that $6 trillion to $9 trillion annually is required to meet the Paris Agreement goals and guide the global economy toward a green transition by 2030. Standards such as the ISSB’s IFRS S2 climate disclosure framework have become essential, enabling investors to better assess climate risks and opportunities. Financial products like green bonds and sustainability-linked loans have proliferated, though regulatory debates, especially within the EU, focus on reducing complexity and costs without weakening standards.

International politics continue to challenge climate finance progress. The U.S. withdrawal from a 2025 fund supporting developing countries and contested negotiations at COP30 highlighted unresolved tensions between developed and developing nations. While vulnerable countries pushed for a tripling of adaptation finance to approximately $120 billion yearly, donor conditions linked finance increases to fossil fuel phase-outs stalled agreement. Nevertheless, COP30 achieved a commitment to increase adaptation finance at least threefold by 2035, though critics argue that the targets lack specificity and urgency.

Looking ahead, 2026 will prioritize operationalizing the New Collective Quantified Goal (NCQG) established at COP29 and the Baku–Belém roadmap, focusing on detailed resource allocation, balancing public and private capital, and setting midterm benchmarks at COP31 in Türkiye. Expanding adaptation finance budgets and project pipelines will be essential, alongside formalizing targets and indicators for 2026–2028 under the Baku Adaptation Roadmap.

The loss and damage fund and enhancements to the Green Climate Fund remain politically sensitive issues, with vulnerable nations and civil society likely to push for increased contributions and new funding mechanisms rooted in "polluter pays" principles targeting fossil fuels and transport sectors. Multilateral development bank (MDB) reforms and private capital mobilization will be crucial, with discussions expected to accelerate on easing capital adequacy rules, expanding risk-sharing instruments, and promoting blended finance to scale and improve effectiveness.

Persistent political uncertainties and equity debates are expected to shape climate finance through 2026. COP31 discussions will likely intensify around funding scale, distribution between grants and loans, and accessibility issues related to debt and governance, reflecting ongoing tensions between developed and developing countries about the fairness and adequacy of climate finance efforts.