The Bank of Korea lowered the benchmark rate 25 basis points to 3.25 percent — the first reduction since May 2020, during the pandemic. It began a series of base rate hikes the following year. South Korea’s central bank cut interest rates Friday for the first time in more than four years, in line with […]
Read MoreSouth Korea’s famous female writer Han Kang has won the 2024 Nobel Prize in Literature. Han Kang, 53, was awarded the award for his unique writing style, “profound poetic prose that uncovers historical trauma and brings to the fore the fragility of human life.” Earlier in 2023, Norwegian author and playwright John Foss won the […]
Read MoreThere had been a loss of confidence in the pension system across generations and there was a need for fundamental and sustainable reform to restore the trust of those who needed it in retirement, Yoon told a televised briefing South Korean President Yoon Suk Yeol said on Thursday the national pension fund, one of the […]
Read MoreFive people were killed and nine injured in a car accident in Ansan, South Korea. The casualty occurred when a bus collided with a van carrying day laborers at an intersection in Ansan, about 30 kilometers south of the capital Seoul, at around 6:30 a.m. local time on Saturday. The collision caused the van to […]
Read MoreThe Ulchi Freedom Shield exercises, set to run from Aug. 19 to 29, come as North Korea continues to develop its nuclear and missile programmes and tries to launch reconnaissance satellites. South Korea and the United States will begin annual summertime military drills next week to ramp up their capability to counter North Korea’s weapons […]
Read MoreAs the neighbouring North rapidly expands nuclear and missile capabilities, more South Korean officials and members of President Yoon Suk Yeol’s conservative ruling party have called in recent months for developing nuclear weapons. South Korea could rupture its US alliance and shock financial markets if it started building nuclear weapons, Defence Minister Shin Won-sik told […]
Read MoreMa, 73, still has to use a greenhouse for part of the year to shield the plants from South Korea’s cold winters, and is among a growing number of farmers experimenting with crops usually more suited to a warmer climate. South Korean farmer Ma Myung-sun had low expectations for the crop of subtropical bananas he […]
Read MoreNorth Korea’s garbage balloon has landed in South Korea’s presidential office. The balloon went down on Wednesday morning local time. Seoul security officials confirmed the matter. According to CNN, North Korea has been sending garbage-filled balloons to South Korea for a few days. Some such balloons landed in South Korea on Wednesday. However, this is […]
Read MoreSEOUL, July 25 (Reuters) – South Korea on Thursday proposed tax cuts as part of its broader push to boost the domestic stock market and tackle a falling birth rate, which is the world’s lowest. Among measures to beef up the “Corporate Value-up Programme” introduced in February, the finance ministry said it would lower inheritance […]
Read MoreSouth Korea’s supreme court on Thursday upheld a ruling that a same-sex partner was eligible to spousal benefits from state health insurance, in a move hailed as a win for LGBTQ rights in a country that has lagged other jurisdictions in the region. The decision upheld a landmark decision by the Seoul High Court early […]
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