SEOUL– Maurice Obstfeld, a renowned U.S. economist, said Wednesday the opening of a currency swap line will help stabilize the foreign exchange market but voiced doubts about the possibility of the U.S. clinching a standing swap line deal exclusively with South Korea. Obstfeld, a professor at the University of California Berkeley, also dismissed concerns … Read more
SEOUL– South Korea’s exports fell 8.7 percent on-year in the first 20 days of September due mainly to fewer working days, and the country logged a trade deficit on high energy costs, data showed Wednesday. The country’s outbound shipments stood at US$32.96 billion in the Sept. 1-20 period, compared with $36.11 billion a year … Read more
SEOUL– Senior defense officials of South Korea and Lithuania held talks in Seoul on Wednesday to discuss arms industry cooperation and other bilateral issues, the defense ministry here said. Vice Defense Minister Shin Beom-chul met with his Lithuanian counterpart, Vilius Semeska, as the latter came here to attend DX Korea 2022, an ongoing biennial … Read more
SEOUL– North Korea’s recent codification of its nuclear policy that leaves the door open for preemptive strikes appears to be aimed at boosting its deterrence capabilities against external threats, experts here said Wednesday. Earlier this month, North Korea promulgated a law on the conditions of launching preemptive nuclear strikes, which include when it faces … Read more
SEOUL– South Korean and U.S. Marine Corps have developed a five-year plan to strengthen combined amphibious landing exercises, a U.S. military unit here said Wednesday, amid the allies’ move to sharpen deterrence against evolving North Korean threats. The U.S. Marine Corps Forces Korea (MARFOR-K) revealed the formulation of the allies’ training program, as Seoul … Read more
SEOUL– Lawmakers from South Korea and the European Union (EU) held a meeting to discuss ways to boost parliamentary cooperation in areas such as energy and climate change, the National Assembly said Wednesday. Among the attendees at the Tuesday meeting were ruling People Power Party Rep. Park Soo-young and main opposition Democratic Party Rep. … Read more
SEOUL– RCD Mallorca’s South Korean midfielder Lee Kang-in has been playing some of his best football of late, earning the nomination for La Liga’s Player of the Month for August and climbing to a tie for the league lead in assists. And yet, the 21-year-old says he has not changed one bit. His approach … Read more
SEOUL– H2O Hospitality Ltd., a tech-based hospitality management startup, said Wednesday it has partnered with cloud service management company Bespin Global Co. to cooperate in operating digital solutions for smart city projects in Vietnam. The hospitality tech company said it signed a memorandum of understanding (MOU) with Bespin Global Vietnam for the integration and … Read more