SEOUL– The South Korean financial market is likely to remain in the doldrums for the time being, but it may rebound later in 2023, when the monetary tightening comes into effect, the head of the Korea Development Institute (KDI) said Monday. “The economy started contracting in the second half of this year, and this … Read more
SEOUL– A former high-ranking official handling policy coordination under the Park Geun-hye government has been selected as a sole candidate for the head of Nonghyup Financial Group Inc., the group said Monday. The group’s executive recommendation committee chose Lee Suk-joon as the candidate to lead Nonghyup Financial Group, one of the country’s major financial … Read more
SEOUL– Artistic street lights with a design of popular box-shaped glass lanterns used for royal banquets during the Joseon Dynasty (1392-1910) will light up the streets of Seoul’s city center at night. The National Palace Museum of Korea said it has installed 350 such street lights in areas around major royal palaces, including Gyeongbok … Read more
SEOUL– Jin, the first member of the K-pop group BTS to serve in the military, has released a photo of himself with a military haircut ahead of his enlistment. Jin took to Weverse, an online community platform for K-pop fans, on Sunday night to post the photo with a caption, “It’s cuter than I … Read more
SEOUL– Police are considering seeking an arrest warrant for a former chief of the Yongsan Police Station as early as this week as part of their probe into the bungled response to the deadly crowd crush in Seoul’s Itaewon neighborhood, officials said Monday. The move comes a week after a court denied a special … Read more
SEOUL– The United States has “strong support” within the United Nations Security Council (UNSC) for a push to adopt a formal document condemning North Korea’s recent missile provocations, according to the U.S. mission to the U.N. on Monday. The U.S. has reportedly produced a draft of a related presidential statement and circulated among the … Read more
SEOUL– Prosecutors sought a warrant on Monday to detain four-term opposition lawmaker Noh Woong-rae on suspicions that he received 60 million won (US$46,000) in bribes from a businessman. Noh of the main opposition Democratic Party allegedly received the money before and after the 2020 parliamentary election from the businessperson, surnamed Park, in return for … Read more
SEOUL– South Korea’s Navy has selected the 2,500-ton frigate, the Gangwon, as this year’s “top gun” ship following an annual assessment of its warships’ combat capabilities, officials said Monday. The frigate of the First Fleet Command based in Donghae, 188 kilometers east of Seoul, won the title after it scored top marks in the … Read more