WASHINGTON (AFP) - After debt loads surged last year amid the pandemic, governments now must take care to “calibrate” spending, the IMF said Wednesday. 　Global debt in 2020, including public and private borrowing, “jumped by 14 percent to a record high $226 trillion,” according to the International Monetary Fund‘s Fiscal Monitor report. 　Public debt amounts to $88 trillion, close to 100 percent of GDP, and is expected to decline only gradually, said Vitor Gaspar

Officials from more than 30 countries, including South Korea, will discuss ways to counter ransomware attacks from countries, including Russia and North Korea, in a US-led virtual meeting this week, a US official said. The virtual meeting, to be held Wednesday and Thursday, comes after a series of recent ransomware attacks on US businesses and government offices from perpetrators believed to be based in other countries, including China, Russia and North Korea. “While the United States is

  　North Korea on Wednesday condemned Japan‘s recent push to build up its military, branding it as “preparations for a war of aggression.” 　 　A commentary carried by the Korean Central News Agency (KCNA) noted Japan is planning to import over 20 U.S.-made reconnaissance drones, and pushing to possess aircraft carriers and introduce the latest stealth fighters. 　 　“The gravity of the issue lies in the fact that Japan pushes ahead with such arms buildup under the pret

South Korea’s Economy and Financial Minister Hong Nam-ki has said that the government will keep expansionary policies next year as the country eyes an economy recovery and return to “normal life” out of the COVID-19 pandemic. “We’re gradually preparing to go back to normalcy by increasing the vaccination rate and the country’s central bank is gradually adjusting its accommodative monetary policy,” Hong, who also doubles Deputy Prime Minister, told Kr

Ruling party rejects appeal against primary results, request for runoff

Four metaverse-themed exchange-traded funds went listed for the first time on the country’s stock markets on Wednesday, betting on growing interest in the new IT platform. The four ETFs are KB Asset Management’s KBSTAR iSelect Metaverse, NH Amundi Asset Management’s Hanaro Fn K-Metaverse MZ, Mirae Asset Global Investment’s Tiger Fn Metaverse, and Samsung Asset Management’s KODEX K-Metaverse Active. Samsung Asset’s ETF product is an actively managed fund,

The military should adopt clearer rules to enable victims of sexual violence to find immediate care and avoid being repeatedly forced to deal with their abusers, an advisory panel said Wednesday, ending a monthslong mission to address rights abuses in the military. The panel, launched in June following the alleged cover-up of the suicide of an Air Force master sergeant who had reported a sexual assault, recommended that the military expand outside oversight as well, with a civilian voting membe

Wrongly administering COVID-19 vaccines into blood vessels instead of the muscles could be behind the serious side effects, some studies have suggested. An Aug. 2 report published by the Journal of Korean Medical Sciences is one of the first in the country to suggest that technique known as aspiration -- which is pulling back on the syringe plunger before injecting the vaccine to ensure no blood vessel is accidentally punctured -- may provide better chances of avoiding side effects. The rep

Danggeun Market's trailblazing success sending shockwaves throughout Korea's mobile e-commerce market, sparking a boom of community-based trade of used items