South Korea said Tuesday it will seek to provide low-rate loans up to 11.4 trillion won ($9.5 billion) to emerging countries for their projects by 2024. The government plans to set the yearly approval ceiling of the Economic Development Cooperation Fund (EDCF) at 3.6 trillion won this year, and raise it to 3.8 trillion won next year and 4 trillion won in 2024, according to the finance ministry. The government also plans to set the implementation goal of the EDCF at 4.5 trillion won over the ne

Global TV sensation "Squid Game" and the music video for "My Universe," a collaborative single between BTS and British rock band Coldplay, have been nominated for the 26th annual US Art Directors Guild (ADG) Awards. The ADG on Monday (US time) announced nominations for this year's awards show, which will return to a live ceremony on March 5 in Los Angeles. The ADG Awards honor excellence in production design in theatrical motion pictures, television, commercials, music vide

Ruling party presidential candidate Lee Jae-myung pledged Tuesday to provide a basic income of up to 1 million won ($836) to residents of farming and fishing villages if elected in March. Lee of the liberal Democratic Party announced the pledge at a press conference in Pocheon, 46 kilometers north of Seoul, as he canvassed voters in Gyeonggi Province for a third day. Lee said he will increase the agriculture and fisheries industries' share of the government budget to 5 percent and conduct deve

　Four out of 10 self-employed people in South Korea are considering closing their businesses due to sluggish sales amid the long-enforced strict social distancing rules during the coronavirus pandemic, a survey showed. 　According to the survey of 500 people operating restaurants, retail and other service businesses by the Federation of Korean Industries, a major business lobby group, 40.8 percent said that they are considering discontinuing their operations. 　Of them, 28.2 percent cited decli

Since Paulo Bento took over as head coach of the South Korean men's national football team in August 2018, no Korean player has scored more goals than Hwang Ui-jo's 13. After years of relative anonymity, the 29-year-old forward for FC Girondins de Bordeaux has emerged as the go-to striker for Bento, the safety valve that can find the back of the net in desperate moments. And as South Korea prepare to resume their World Cup qualifying bid this week, Hwang may finally have some worthy opponents i

South Korea's top 30 family-controlled conglomerates have seen their stock market capitalization spike more than 30 percent over the past four years, with Samsung Group taking the top spot, a market tracker said Tuesday. The combined value of 201 listed firms belonging to the leading business groups, known as chaebol here, came to some 1,504 trillion won ($1.26 trillion) as of Friday, up 33.2 percent from Jan. 2, 2018, according to the Leaders Index. The number of their listed units was up 16

South Korean stocks opened lower Tuesday, as investors await the US Federal Reserve's stance about rate hikes. The benchmark Korea Composite Stock Price Index (Kospi) fell 19.65 points, or 0.7 percent, to 2,772.35 points in the first 15 minutes of trading. The Federal Reserve is scheduled to end its two-day monetary policy meeting Wednesday (local time), which is expected to give clues on its monetary policy direction. South Korea's record high virus tally also added to the concerns about str

South Korea's economy posted the highest growth rate in 11 years as consumption and exports bounced back from the pandemic-caused slump, central bank data showed Tuesday. The gross domestic product is estimated to have grown 4 percent in 2021, marking a turnaround from a year earlier when the economy contracted 0.9 percent, the worst performance since 1998, according to the data from the Bank of Korea (BOK). The 2021 growth rate marked the highest tally since 2010, when the economy expanded 6.

Corporate direct financing by firms in South Korea jumped 19 percent on-year in 2021 driven by multiple massive initial public offerings (IPOs), data showed Tuesday. Local companies raised a combined 231.48 trillion won ($194 billion) by selling stocks and bonds last year, up 37 trillion won from the previous year, according to the data from the Financial Supervisory Service. Direct financing refers to raising funds directly from the stock and bond markets without borrowing from banks and othe

The United States continues to call on North Korea to stop its provocations and instead return to dialogue to find ways to de-escalate tension, US Department of Defense Press Secretary John Kirby said Monday. Kirby also said the US remains concerned about the North's advancing nuclear and ballistic missile capabilities. "We've been very clear about our concerns over the advancing nuclear ambitions and ballistic missile capabilities of Pyongyang," Kirby said in a press briefing. &quo

Seoul Museum of Art –- an art museum operated by the Seoul Metropolitan Government –- will focus on integration in operating its eight art entities scattered across Seoul, as it looks forward to expand to 10 by 2024 with the opening of three additional art entities. They are: Art Archives Seoul Museum of Art, Seo-Seoul Museum of Art and Seoul Museum of Photography. Art Archives Seoul Museum of Art will open in August in Jongno-gu, central Seoul. It will hold and manage the museum

After a long, mysterious silence, US President Joe Biden has spoken out about the ever-increasing concentration of Russian troops near the Ukrainian border. He would have been better off keeping quiet, given his astonishing and dangerous message. NATO officials -- and his own aides -- have had to scramble to redefine the meaning of his words. When asked at a press conference if he thought Russian President Vladimir Putin would attack Ukraine again, Biden said, “My guess is he will move in

At 86, the Dalai Lama is beloved around the globe for his promotion of world peace, religious harmony and the need for climate action. But while the Western world protests China’s human rights abuses, the Dalai Lama is eerily quiet. The spiritual leader of Tibet remains hopeful for a better future for Tibet with China. When the Dalai Lama was asked about the leadership of Chinese President Xi Jinping during a November talk organized by the Foreign Correspondents’ Club of Japan, he s