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South Korea Coach Hong Myung-bo Resigns After Early World Cup Exit, Sparking President’s Harsh Rebuke

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South Korea head coach Hong Myung-bo

ZAPOPAN, Mexico — South Korea head coach Hong Myung-bo announced his resignation Sunday, less than 24 hours after his team’s elimination from the 2026 World Cup was officially confirmed, following a scathing public rebuke from the country’s president that called the coach “incapable” and demanded a full government review of the national team program.

Hong faced reporters at a press conference at the team’s training site in Zapopan, where South Korea had based itself throughout the group stage. Reading from a prepared statement and declining to take questions afterward, the 57-year-old former national team captain took full responsibility for the early exit.

“I would like to offer my sincere apologies to the people of Korea who love football and supported the national team,” Hong said. “I am resigning from my post as head coach of the national team. We did not deliver the results the fans expected, and the responsibility falls entirely on me.”

A campaign that started well but unraveled quickly

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South Korea’s tournament began with genuine promise. The team opened Group A play with a 2-1 victory over the Czech Republic, a result that suggested the squad had found its footing heading into the tournament. That momentum evaporated almost immediately, as South Korea followed the win with consecutive 1-0 losses to Mexico and South Africa, leaving the team’s fate hanging entering the final round of group matches.

South Korea’s hopes of advancing as one of the tournament’s eight best third-place finishers, a new pathway introduced under this year’s expanded 48-team format, were extinguished Saturday when Congo defeated Uzbekistan 3-1 in an unrelated match, eliminating any mathematical path forward for the Taegeuk Warriors. The team finished third in Group A with one win and two losses.

A presidential rebuke adds to the pressure

The swift, disappointing exit triggered an unusually direct public response from South Korean President Lee Jae Myung, who used his platform to criticize both the coach and the federation that hired him. “As a former honorary professional football club chairman and, at heart, a member of the Red Devils, I feel not just surprise but deep bewilderment at this unexpected result,” Lee said in a statement.

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The president went further, framing the outcome as a predictable consequence of how Hong came to be hired in the first place. “Once again, it has been proven that personnel decisions determine everything,” Lee said. “If loyalty and factionalism are valued over competence and an incapable person is appointed as a leader, the outcome is as predictable as fire.”

Lee also pointed to the use of public funds in justifying his call for a formal inquiry. According to the president’s statement, he asked that the Ministry of Culture, Sports and Tourism “meticulously address the precise circumstances of this incident, analyze its causes, and develop thorough measures for preventing recurrence,” citing the significant taxpayer resources invested in the national team’s World Cup campaign.

A federation also under scrutiny

The fallout has extended beyond Hong himself to the Korea Football Association’s hiring process, which was already controversial when Hong was appointed in July 2024, replacing Jurgen Klinsmann. According to multiple outlets, that selection process drew criticism at the time for reasons unrelated to merit. President Lee’s call for an investigation specifically targeted that appointment process, suggesting any resulting changes within Korean football could extend well beyond simply naming a new head coach.

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A second World Cup heartbreak for Hong

Sunday’s resignation marked the second time Hong has walked away from the national team job following an early World Cup exit. He first served as South Korea’s head coach in 2014, resigning after the team went winless and failed to advance past the group stage at that year’s tournament in Brazil. His return to the role in 2024 made him the only person to have coached South Korea at two separate World Cups, but it ultimately produced the same disappointing result.

Hong reflected on the difficulty of the decisions he faced over his two years in charge. “Over the past two years, I have constantly asked myself the same question: ‘Is this the right decision for Korean football?’” Hong said. “Whether making important decisions for the national team, selecting players, preparing training sessions, or leading the team in matches, I never let go of that question. I cannot say that every decision I made was always the correct one. But I can say that the standard by which I made every decision was always what I believed to be best for Korean football.”

A legendary playing career overshadowed by coaching struggles

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Hong’s standing in South Korean football extends well beyond his recent coaching tenure. As a player, he captained South Korea to the semifinals of the co-hosted 2002 World Cup, one of the most celebrated runs in the tournament’s history, and became the first Asian player to win the Bronze Ball as one of the tournament’s standout performers. That legacy has made his repeated coaching setbacks all the more difficult for South Korean fans to accept.

Public frustration following the loss to South Africa reportedly reached a fever pitch domestically. According to multiple reports, the Korean Broadcasting System blurred Hong’s face during the broadcast of his post-match press conference, a symbolic gesture reflecting the depth of the national mood toward the coaching staff in the tournament’s aftermath.

Part of a broader trend among World Cup coaches

Hong’s resignation makes him the third national team head coach to step down during this year’s World Cup. Tunisia dismissed coach Sabri Lamouchi after just one match of the tournament, while Scotland’s Steve Clarke resigned following his team’s own group-stage elimination, underscoring how quickly tournament disappointments can end coaching tenures even for figures with significant prior credibility.

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With Hong’s departure now official, the Korea Football Association faces the task of identifying a new head coach to lead the team toward the 2027 AFC Asian Cup, the competition Hong had originally been contracted to guide the team through before his resignation cut that arrangement short. South Korea has now failed to advance beyond the group stage in three of the last four World Cup tournaments, a pattern that figures to weigh heavily on whatever review process the country’s sports ministry ultimately undertakes in the coming weeks, as both the federation’s hiring practices and the broader direction of the national program face fresh scrutiny from the country’s highest levels of government.

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Two 25%+ Covered Call ETFs Where The Risk Has Quietly Changed

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To uncover hidden business risks concept. Male hand opens the blue paper and reveals the word risk.

Two 25%+ Covered Call ETFs Where The Risk Has Quietly Changed

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Spain installs floating barrier in Ceuta after calm night following border rush

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Thousands in Amsterdam for boisterous WorldPride in shadow of Berlin attack

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Worried Amitabh Bachchan fans pray to Lord Shiva for his recovery

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KOLKATA: Hundreds of worried fans of ailing Bollywood megastar Amitabh Bachchan today performed a yagna here to pray for his speedy recovery.

“We are using the auspicious occasion of Maha Shivratri to pray to Lord Shiva to help him recover painlessly from his health problems,” Sourav Banerjee of Amitabh Bachchan Fans Association of Kolkata, told.

Dressed in traditional attires, hundreds of fans carrying the actor’s posters thronged the Ekdaliya Evergreen Park in the afternoon for the hour-long yagna.

Ever since the news of Big B’s health problems broke, his admirers here, who have also built a temple for him in south Kolkata, have been a worried lot.

“We have been praying for his health and well-being ever since and are constantly monitoring media reports on his health,” Banerjee said.

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Another of his fan blamed the actor’s “workaholic nature” for his medical condition.
“He has delivered hits after hits all his career and at this age of his life his body needs rest,” said 32-year-old Goutam Basak adding that they are planning a gala celebration when the superstar returns home from hospital. On February 11, 69-year-old Bachchan underwent an abdominal surgery but after he complained of acute pain, his stay at the hospital had to be extended.

Currently recuperating at the Seven Hills hospital, Big B’s health is now said to be improving.

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To keep growing, incoming Best Buy CEO first wants to go smaller

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To keep growing, incoming Best Buy CEO first wants to go smaller

Best Buy is at a critical juncture as the consumer electronics retailer aims to revitalize its performance under incoming CEO Jason Bonfig, who spoke exclusively with CNBC about his strategy for the company.

The company has been struggling with slumping sales over the past few years, which it has attributed to lower consumer confidence, less tech innovation and a slower housing market. In an effort to refresh its products, improve the customer experience and drive more sales, the retailer announced Bonfig will succeed current CEO Corie Barry this fall.

As he prepares to take the helm, Bonfig has said he’s focused on four key pillars: advancing Best Buy as a retail and technology company, improving its reach, enhancing the customer experience and focusing on being a human-powered company. Bonfig has also said he’s looking into ways to capitalize on the artificial intelligence boom and Best Buy’s spot in that next chapter.

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This week, Best Buy opened two new stores, one in Jonesboro, Arkansas, and one in Cape Cod, Massachusetts, which Bonfig told CNBC illustrates his strategy as he prioritizes returning the company to long-term and sustainable growth.

“What we’re finding is that there are markets that we just can’t be in with a traditional size Best Buy store, but they’re markets that absolutely make sense for Best Buy from a reach perspective,” Bonfig said.

Shoppers wait outside at a Best Buy store on Black Friday in New York, US, on Friday, Nov. 28, 2025.

Victor J. Blue | Bloomberg | Getty Images

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To lean into those markets, the company is opening new small-format stores, ranging from 12,000 to 15,000 square feet, compared to its medium-format stores, which range from 20,000 to 25,000 square feet. Some of its largest stores, including its flagship location in New York City, exceed 40,000 square feet.

The new small stores tap into Bonfig’s priority of expanding the company’s reach, he said.

“We also know that when we put a store close to a customer, it doesn’t just change the customers’ behavior in the frequency of the visits of the store … it also changes their behavior digitally as well,” Bonfig said.

When Best Buy joins a new, smaller community, he said, the company has found more customers physically go to a store for the first time, but they also use the app and digital channels as well. The Jonesboro store marks Best Buy’s return to the town after a tornado destroyed its previous location.

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“It’s a great example of a vibrant market, a place where customers are interested in our brand, but not a market that could support a 30,000- or 35,000-square-foot store,” Bonfig said. “An 18,000-square-foot store allows us to have the best of all of our different categories and meet the needs at that particular location.”

The second opening, in Cape Cod, is slightly larger than Best Buy’s normal medium-format stores, coming in at 28,000 square feet, but Bonfig said it’s another example of finding “the right size store in the right location in the right node.”

He added that Best Buy Canada, which can often do things faster than its U.S. counterpart, has been after the small-format store for “an extended period of time” and has seen success with locations as small as 7,000 square feet.

Still, Bonfig emphasized that the small stores are not a replacement for its more typical-format locations.

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“It’s actually an enhancement of what we’re doing today,” he said. “But it actually allows us to reach more customers and more markets that we just were not in before.”

Trying to turn the page

Jason Bonfig to succeed Corie Barry as Chief Executive Officer.

Courtesy: Best Buy

Over the past five years, Best Buy has seen its stock sink roughly 20% after hitting its peak in late 2021, trading at $138 per share.

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For the current fiscal year, Best Buy has said it expects comparable sales in the range of a decline of 1% to an increase of 1%. Though its most recent quarter outperformed Wall Street expectations, it came on the heels of years of declines, like the third fiscal quarter of 2026, when Best Buy reported net income of $140 million, down from $273 million the year prior.

The retailer was also hit by tariffs and is navigating the soaring price of memory chips, which have caused the costs of some consumer electronics to rise.

Bonfig said he attributes Best Buy’s recent stagnant performance to a general pull-forward behavior from consumers during Covid that created an unprecedented demand curve that led to a lull. Like home improvement companies, Best Buy saw outsized spending as shoppers were stuck at home and looking to upgrade.

He said Best Buy saw that behavior reset the technology life cycle for a lot of consumers while also forcing vendors to pivot from innovation to production.

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“I wouldn’t say that Best Buy’s lost its momentum,” he told CNBC. “I think there’s been a very interesting couple years, or maybe more than a couple years, in the market where there was an interesting demand curve where everything was pulled forward.”

As he prepares to take the reins of the company, Bonfig said he’s focused on improving the customer experience, including upgrading TV selections and working with customers to replace their existing TVs.

Bonfig said he’ll define success during his tenure as CEO by the customer response.

He also said the company is leaning into AI for customers and the corporate side of the business, adding that Best Buy is actively investing in new products like Meta’s glasses. Best Buy also has an AI tool for customers to use, in addition to partnerships with OpenAI and Google.

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“Agentic commerce and commerce through AI platforms is happening today,” Bonfig said. “We’re seeing traffic there, and we want to make sure that the Best Buy experience is represented.”

Still, he added, he expects AI to be an enhancement to the human power behind Best Buy.

And, ultimately, as he looks to step into his new role, Bonfig said he still believes in the core strength of Best Buy despite its recent stagnation.

“Corie had an amazing strategy, and my strategy is built on top of that,” Bonfig said. “There is a tremendous amount of momentum.”

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Fifa’s World Cup plan never stacked up – here are 4 reasons why

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FIFA president Gianni Infantino speaks during an event, standing in front of a purple and yellow striped background.

In the slides, Fifa’s central argument was that football does not raise enough cash in relation to its fan base, that “Fifa has been under-monetised versus other leagues” and so “global football development gets squeezed”.

It did this with reference to a comparative chart showing annual revenue as well as revenue per fan for Fifa, the Uefa Champions League, Premier League, US baseball and NFL American football.

On the face of it, Fifa is the poorer cousin at just $1 per global fan, compared to NFL’s $52.8. But this measure is rather suspect.

The World Cup is not an annual competition; it happens once every four years. If instead this was done on revenue per World Cup 2026 match, Fifa makes multiples of the Premier League, perhaps more than three times as much.

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As important, football is decentralised globally, so more of the revenues go to individual leagues, such as the Premier League or Champions League. Fifa was effectively arguing it wanted to keep more of that overall football pie.

Football’s fans are also spread across the globe, in rich and poor countries alike. NFL has a much smaller base concentrated in the US and is pretty much the whole of American Football.

Finally, about half of NFL’s revenues are paid out as wages. Fifa does not pay Erling Haaland or Lionel Messi or Vozinha. Profits would have yielded a rather different result than the chart’s focus on revenues.

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Seatrium Limited 2026 Q2 – Results – Earnings Call Presentation (OTCMKTS:SMBMY) 2026-08-01

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

This article was written by

Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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Documents reveal contents of the first telegraph message between India & England

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Documents reveal contents of the first telegraph message between India & England
PORTHCURNO (ENGLAND): Newly discovered documents have revealed the first telegraph messages and joy when England was linked for the first time with India on 23 June, 1870, via thousands of km of cables laid painstakingly below the seas, reducing time from months to minutes.

The sylvan Porthcurno valley in Cornwall, located on the Atlantic coast 506 km south-west of London, was the unlikely place of a revolution that enabled Britain and its former colonies to communicate with each other.

Museum officials told a visiting PTI correspondent that Porthcurno was the hub of international cable communications from 1870 to 1970, and a training college for the communications industry until 1993.

Now a museum housing rare equipment and details of the history of telegraph, Porthcurno has been granted millions of pounds in funding to develop an international education programme that includes community groups in India.

Among its rare archives discovered last week is a collection of the first telegraph messages sent from Porthcurno and Mumbai (then Bombay).

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Until that landmark day, communication between England and India was unreliable, and often took months.
According to the document, the first message was dispatched on the night of 23 June, 1870, and a reply was received in 5 minutes, which was a technological feat at the time.The message was called a ‘complimentary telegram’ between the ‘Managing Director in London and the Manager in Bombay’.

The first message was from ‘Anderson to Stacey: How are you all?’, to which the reply was: ‘All well’.

The second message from Anderson was: ‘Please ask gentlemen of the press, Bombay, to send a message to gentlemen of the press, New York’.

After several messages that night, including some to the governor of Bombay, from Lady Mayo to viceroy Lord Mayo based in Shimla, and one from the Prince of Wales to the viceroy, a response was received from journalists based in Bombay.

It said: ‘From the Press of India to the Press of America: The Press of India sends salaam to the Press of America. Reply quick’.

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The document notes that the viceroy of India had sent a telegraph to the president of the United States and “received a reply which reached him in 7 hours 40 minutes”.

The viceroy’s message, which was read in the American Congress the same evening, was: “The Viceroy of India for the first time speaks direct by telegraph with the President of the United States. May the completion of the long line of uninterrupted communication be the emblem of lasting union between the Eastern and Western World”.

Telegraphic communication with India was first established in 1864 by overland telegraph lines from Europe to the top of the Persian Gulf and then by an undersea cable to Karachi, but the overland section was never satisfactory, prompting efforts to lay more reliable cables below the sea.

In 1869, telegraph pioneer John Pender established the British Indian Submarine Telegraph Company, whose task was to lay undersea cables to India.

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The five ships used to lay the thousands of km of cables were the Great Eastern, William Cory, Chiltern, Hawk and Hibernia.

It took six weeks to lay the cables from Suez to Bombay. This was followed by the laying of the final link from Malta to Porthcurno.

It was the first long distance cable ‘chain’, and opened to the public with much jubilation, museum records show.

After the link with India was established, Porthcurno was linked by undersea cables to several other areas across the world.

At its height, it was the world’s largest station with 14 cables in operation. Porthcurno’s telegraphic codename was ‘PK’.

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During World War II, tunnels were dug by Cornish miners to house an underground building and Porthcurno’s entire telegraph operations.
The building today houses the museum and archives that started the communication revolution in the late nineteenth century.
Besides 1.44 million pounds funding received in January, the museum this week has been granted 35,000 pounds from the international telecommunications organisation SubOptic to develop an education project with community groups in India, among other countries.
Museum officials said the money will fund an international education programme that will benefit users from spring 2013.

It will include online learning resources, including video clips, animations and games that will enable users to discover the science of global cable-based telecommunications, as well as its impacts on local identity, democracy and culture.

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Exclusive | Tesla Weighs Sale of China Business to Pave Way for Potential SpaceX Merger

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Exclusive | Tesla Weighs Sale of China Business to Pave Way for Potential SpaceX Merger

Elon Musk designed Tesla’s TSLA China business to be easily separated from its U.S. business because of geopolitical tensions. It might also come in handy if he proceeds with a SpaceX SPCX merger.

Musk in recent years instructed Tesla executives to organize the company with a “laser” between its U.S. and China businesses, according to people familiar with the planning. He wanted to ensure that in the event of geopolitical strife between the two countries, at least the U.S. half of Tesla would survive. 

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India Meteorological Department to use dynamic models for forecasts

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PUNE: The statistical models used by the India Meteorological Department (IMD) had failed to predict all the three droughts in India in the last decade. Though statistical models will still be used for monsoon forecast, the ministry of earth sciences is putting more emphasis on dynamic models.

M Rajeevan of National Atmospheric Research Laboratory said, “the failure to predict the 2009 drought has raised many serious issues. On the other hand, the state-of-the art coupled ocean atmospheric models have sho-wed improved skills in predicting inter annual variability of Indian summer monsoon rainfall.”

He was speaking at the golden jubilee conference of Indian Institute of Climate Change (IITM), Pune, on ‘opportunities and challenges in monsoon prediction in changing climate’. Since 2011, the IITM has used the coupled model for monsoon forecast.
Better weather forecast needs data from all parts of the globe. “In every part of the world, farmers are saying that the climate is not as it used to be. Hence, traditional knowledge is also failing. For better prediction of weather, we need observations from all countries. We need super computers of even higher capacities. We need to have knowledge about how to translate scientific progress into concrete applications,” said Michel Jarraud, secretary general, World Meteorological Organisation.

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