Morning news 6-28: Warning to CapCut users because the company has just changed the terms

Along with other news, please follow: Thailand subsidizes to encourage people to travel domestically; Harvard University's credit rating remains stable despite pressure from the government; Swiss super-rich are in turmoil over the proposal of a 50% inheritance tax; South Korea: No limit on the length of a child's name.

Warning to CapCut users as the company has just changed its terms

Illustration photo.

CapCut, one of the most praised free video editors by users, has just quietly made a major change to its Terms of Service.

This change by CapCut could cause concern for users around the world, as they will have to hand over the rights to not only their footage but also their faces, voices, and creative efforts without compensation.

Many have expressed concern about the move, arguing that it effectively gives the platform permanent control over their content. “CapCut now includes common language that grants them a worldwide, royalty-free, sublicensable, and transferable license to use, copy, distribute, modify, adapt, publicly perform, and create derivative works of your content,” said Claudia Sandino, director at Omnivore.

It’s worth noting that the revised terms don’t just apply to public posts, as the company also claims rights to user-generated content, including voices, faces, and images, regardless of whether a video is posted. “If you upload a video of yourself, or even just a voiceover, they can legally use that video in advertising or other media without notifying or paying you,” Sandino warned.

Another concern is the “perpetual” nature of the license, which means CapCut retains copyright even after users delete their accounts. “CapCut goes further than most companies in claiming rights to content that creators often consider private or controlled,” Sandino notes.

CapCut, owned by ByteDance, is at risk of losing its loyal user base as it transitions from a creation tool to a distribution tool.

Thailand subsidizes domestic tourism

Thailand's Tourism and Sports Minister Sorawong Thienthong said the program is part of an overall economic stimulus package worth more than 115 billion baht ($3.5 billion), with more than 10 billion baht ($306 million) allocated specifically for the tourism industry.

The program will run from July 1 to October 2025, with a total of 500,000 incentives. People can register for the program from June 25 via an online platform, with the chance to receive five incentives per person, including three incentives for travel experiences in major cities and two incentives for smaller destinations. In addition, each incentive comes with a 500 baht (nearly $14) discount coupon that can be used at designated restaurants and tourism activities.

Under the program, the Thai government will also support people with a portion of their accommodation costs, specifically 50% of the accommodation costs, up to 3,000 baht (83 USD) from Monday to Friday, and 40% of the accommodation costs for weekends.

The program is expected to attract at least 100,000 tourists, generate nearly 3 million additional domestic trips, contribute more than 35 billion baht (over 1 billion USD) to the Thai economy, maintain more than 40,000 jobs and add nearly 1.9 billion baht in tax revenue to the country's budget.

Harvard University's credit rating remains strong despite government pressure

The AAA credit ratings of Harvard University and several other Ivy League schools in the US are likely to remain intact unless they face extreme and coordinated financial attacks from the Trump administration, credit rating agency S&P Global said.

Trump and Harvard are currently at odds over his accusations of anti-Semitism on campus. The Trump administration has cut billions of dollars in funding to Harvard and sought to ban the school from accepting international students.

In response, Harvard University - the oldest and richest university in the United States, which also holds more than $8 billion worth of government bonds - sued the government.

Last week, Harvard won a temporary restraining order against the admissions ban, and Trump has since signaled that a deal could be reached soon. But observers are particularly concerned about the long-term financial implications, especially as Trump threatens to strip Harvard of its tax-exempt status and raise its endowment tax rate from 1.4% to 21%.

Swiss super-rich stir over 50% inheritance tax proposal

Lawyers and bankers in Switzerland are warning of a UK-style exodus of wealthy people ahead of a referendum on a 50% inheritance tax on the super-rich.

Switzerland plans to hold a national vote in November on a federal tax on inheritances and gifts worth more than 50 million Swiss francs ($61 million). Unlike current cantonal taxes, which would remain in place, the proposal does not include exemptions for spouses or immediate relatives.

The vote comes as the UK has already sparked an exodus of wealthy foreigners by making global assets of non-residents subject to inheritance tax, while other places such as Dubai and Italy are stepping up efforts to attract the wealthy.

Georgia Fotiou, a lawyer advising private clients at Staiger Law, said the proposed inheritance tax had cost Switzerland the chance to attract people leaving the UK.

Instead of Switzerland, many people are choosing Italy, Greece, the United Arab Emirates and other places, she said. In Italy, inheritance taxes range from 4% to 8%, while Dubai and Hong Kong (China) do not even have inheritance or gift taxes.

Korea: No limit on length of birth name

In Korea, previously, a child could only register a name longer than 5 syllables if the father was a foreigner and the mother was Korean, the child took the father's surname and was registered in the father's national registry.

When the revised regulations on South Korea's family registration take effect on June 20, a child born to a Korean father and a foreign mother can also register his or her name in the mother's national registry, regardless of the length of the child's first and last names.

The Supreme Court added that those who have already registered can submit additional documents to match the names listed in foreign registries. Accordingly, long names registered in foreign registries, such as "Alexandria" or "Areumdaunjisu", can now be registered in Korea as their screen names.

Previously, naming children by combining the father's and mother's surnames in multicultural families, including families with a Korean husband and a Vietnamese wife, often encountered some difficulties due to cultural, legal and social differences between Korea and Vietnam.

Because the traditional Korean naming system is usually 3 syllables, consisting of a 1-syllable family name followed by a 2-syllable given name. Most Koreans only use their father's family name without the mother's, and their middle name and first name are chosen by their parents.

Bao Nam synthesis

Source: https://baohaugiang.com.vn/van-hoa-trong-nuoc/diem-tin-sang-28-6-canh-bao-den-nguoi-dung-capcut-do-cong-ty-vua-thay-doi-dieu-khoan-142510.html