SEOUL– South Korea’s Navy is seeking to create a new command running unmanned ships, submarines and aircraft in the 2040s, the armed service said Friday, in an effort to address a potential troop shortage caused by the country’s low birthrate. During a parliamentary audit, the Navy unveiled a series of policy goals, including removing … Read more
SEOUL– Finance Minister Choo Kyung-ho said Friday that the government is taking “necessary measures” regarding a default in project financing for the construction of the Legoland amusement part in Gangwon Province. Iwon Jeil Cha, a special purpose company established by the Gangwon Jungdo Development Corp. (GJC) to fund the construction of the resort, missed … Read more
SEOUL– Former Defense Minister Suh Wook and former Coast Guard Commissioner General Kim Hong-hee attended court hearings held Friday to determine whether they should be arrested over the previous administration’s mishandling of the 2020 death of a fisheries official at the hands of North Korea. Neither of them answered any questions from reporters when … Read more
SEOUL– Until recently, the robot market has been largely comprised of large, expensive industrial robots with fixed arms and manipulators used primarily for production and distribution of goods. Major customers for those industrial or factory robots are carmakers, electronics producers and metal and machinery manufacturing companies. However, the yearslong COVID-19 pandemic and rapid aging … Read more
SEOUL– Prosecutors sought an arrest warrant Friday for a close confidant of Lee Jae-myung, the chairman of the main opposition Democratic Party (DP), on charges of taking illegal political funds from real estate developers, officials said. The Seoul Central District Prosecutors Office filed for the warrant for Kim Yong, deputy head of the DP-affiliated … Read more
Today (%) Previous Session(%) Change (BP) 1-year TB 3.801 3.674 +12.7 2-year TB 4.485 4.324 +16.1 3-year TB 4.495 4.350 +14.5 10-year TB 4.632 4.439 +19.3 2-year MSB 4.465 4.355 +11.0 3-year CB (AA-) 5.736 5.588 +14.8 91-day CD 3.900 3.850 +5.0 Source: Yonhap News Agency
SEOUL– President Yoon Suk-yeol plans to give a budget speech at the National Assembly next week, outlining his government’s spending plan for next year, the presidential office said Friday. In the address set for next Tuesday, Yoon is expected to ask for bipartisan support for the 2023 budget plan, according to Yoon’s office. … Read more
WONJU, South Korea– Korean American golfer Andrea Lee grabbed the second round lead at the LPGA tournament under way in South Korea on Friday with her second consecutive bogey-free round. Lee shot a six-under 66 to reach 12-under after 36 holes at the BMW Ladies Championship at Oak Valley Country Club in Wonju, Gangwon … Read more