SEOUL– The International Monetary Fund (IMF) on Tuesday revised up its 2022 economic growth outlook for South Korea to 2.6 percent amid the country’s improving private spending on eased virus restrictions. The revision marked a 0.3 percentage point rise from the growth forecast of 2.3 percent that the Washington-based organization made in July. The IMF, … Read more
SEOUL– The defending South Korean baseball champions KT Wiz lost their grip on a postseason bye Tuesday, after dropping their final regular season game with two outs in the bottom of the ninth inning. Oh Ji-hwan delivered the walk-off hit for the LG Twins in a 6-5 victory at Jamsil Baseball Stadium in Seoul, as … Read more
Pyongyang is not yet in a position to deploy tactical nuclear weapons that could hit precise targets in South Korea but is likely to begin testing such weapons in the near future, experts told Radio Free Asia. Recent high-profile missile tests carried out by the North were described by North Korean state media on Monday … Read more
U.S. Treasury Secretary Janet Yellen on October 11 called on Ukraine’s partners and allies to fulfill their commitments to support the country ahead of a meeting with Ukrainian Finance Minister Serhiy Marchenko. “Ukraine continues to defend its sovereignty against Russia’s brutal war of aggression — including [Russian President Vladimir] Putin’s horrific missile attacks yesterday that … Read more
The UN General Assembly elected a dozen new countries on Thursday to serve on the Human Rights Council, while Germany and Sudan secured second terms. After the ballots were cast and counted, Assembly President Csaba Kőrösi named Algeria, Bangladesh, Belgium, Chile, Costa Rica, Georgia, Kyrgyzstan, Maldives, Morocco, Romania, South Africa and Viet Nam to serve … Read more
Afghanistan, South Korea and Venezuela lost their bids Tuesday to serve three-year terms on the U.N. Human Rights Council. With nearly all the 193-member states voting in the General Assembly, Algeria, Bangladesh, Belgium, Chile, Costa Rica, Georgia, Germany, Kyrgyzstan, Maldives, Morocco, Romania, South Africa, Sudan, and Vietnam were voted onto the 47-member Geneva-based rights body. … Read more
SEOUL– Sales of short-term corporate bonds in South Korea declined 22.2 percent in the third quarter of 2022 from a year earlier mainly due to a sharp fall in the general short-term bond issuance, data showed Tuesday. Local firms floated 250.9 trillion won (US$175 billion) worth of short-term bonds in the July-September period, compared with … Read more
SEOUL– South Korean officials held a meeting with domestic car and battery makers Tuesday to discuss responses to the Inflation Reduction Act (IRA), as Washington sought public input on its implementation amid concerns over its discriminatory features, the industry ministry said. The IRA, signed by U.S. President Joe Biden in August, excludes electric vehicles assembled … Read more