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S. Korea, China agree to work for successful trilateral summit with Japan: Seoul ministry
Cuban diplomat visits Seoul for talks on opening embassy
Wang voices hope to develop bilateral ties with S. Korea 'without interference'
NewJeans' members' parents complained to Hybe, email shows
Ministry, doctors clash over decision process of expansion plan
Seoul vows action over Naver's Line, Yahoo dispute
[New faces of Assembly] Trump factor sets mood for South Korea to cultivate its ‘nuclear potential’: lawmaker-elect
Samyang shares soar on upbeat sales of Buldak ramyeon in US
[Herald Interview] S. Korea, EU embrace 'great opportunities' for advancing climate action: envoy
[Today’s K-pop] Seventeen hits Billboard 200 at No. 5 with best-of album
NewJeans to appear on reality show amid ‘Hybe-Ador’ dispute
Ador CEO’s fate to be decided on May 17
China’s AliExpress, Temu sign rare pact in Korea to ensure product safety
[Herald Review] Highlight kicks off Asia tour with memory-filled Seoul concert
Seoul shares almost flat ahead of US inflation data
Samsung doubles down on Vietnam
[Herald Interview] Kimsooja expands Bottari philosophy with vast mirror installation
Processed food satisfaction rate keeps falling: report
Herald CEO named chief of foreign language newspaper association
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S. Korea to inject 78 tln won in trade financing to boost exports
Nov 8, 2023
South Korea's industry ministry said Wednesday it plans to inject 78 trillion won ($59.7 billion) by the end of this year in trade financing to keep outbound shipments on the recovery track. South Korea's exports moved up on-year for the first time in 13 months in October, driven by robust automobile shipments, along with signs of improvement in the chip sector. The fund will be raised by state-run institutions, including the Korea Trade Insurance Corp. and Export-Import Bank of Korea,
S. Korea logs current account surplus for 5th month in September
Nov 8, 2023
South Korea logged a current account surplus for the fifth straight month in September on the back of a widened trade surplus and increased dividend income from overseas, central bank data showed Wednesday. The country's current account surplus reached $5.42 billion in September, following the surplus of $4.98 billion the previous month, according to preliminary data from the Bank of Korea. September's surplus came as the country's trade balance has remained in the black for six s
Fed's rate-pause guess is overstated: Summers
Nov 6, 2023
The Federal Reserve's rate hike may not have come to an end given strong economic performance, although long-term neutral interest rate will come down to a 2 percent range, former US Treasury Secretary Lawrence Summers said Monday. Early this month, the Fed held its benchmark lending rate steady between 5.25 and 5.50 percent for a second consecutive time as it keeps striving to bring down inflation to its 2-percent target. But it left open the possibility of a rate change later to achieve &
World Cup in Saudi Arabia sparks human rights protest
Nov 5, 2023
The appointment of Saudi Arabia as the host for the 2034 FIFA World Cup has elicited a backlash from multiple human rights groups over the nation's contentious rights record, coming just weeks before the final decision on its bid for the World Expo 2030. FIFA President Gianni Infantino confirmed the host as the only bidder last Tuesday after Australia withdrew its bid hours before the Tuesday deadline. Critics are primarily concerned about the potential exploitation of migrant workers who w
[Hello Indonesia] Korea, Indonesia to bolster ties on future growth drivers
Nov 5, 2023
Korean businesses increasingly investing in Southeast Asia's largest economy
Hana Bank to offer W100b in support for small business owners
Nov 5, 2023
Hana Bank is set to roll out a comprehensive financial support scheme worth 100 billion won ($75.6 million) to support small and medium-sized businesses, amid a prolonged economic slowdown and high interest rates. The program aims to offer cashback on interest payments, subsidies on utility and telecommunication bills as well as consulting services to a total of 308,500 individual business owners, according to the bank Sunday. It will be implemented in phases starting next month, alongside its
S. Korea to set up task force to put rising prices under control
Nov 5, 2023
The South Korean government will set up a task force to focus on price controls for key food items, such as milk and coffee, in response to the recent spike in food prices, officials said Sunday. Under the TF, government officials will be responsible for monitoring the prices of each of the seven price-sensitive food items to keep a close eye on their prices, according to the Ministry of Agriculture, Food and Rural Affairs. The items comprise instant noodles, bread, snacks, coffee, ice cream, su
Woori Bank establishes Bangladesh regional headquarters
Nov 3, 2023
Woori Bank, one of South Korea’s top four commercial banks, announced Friday that it has opened a new regional headquarters in Bangladesh that will be in charge of managing six other branches in the country. The Korean bank said it has turned the Dhaka branch into the country's main headquarters on Tuesday, with the purpose of serving as a control tower of financial management, internal control and risk management, marketing, and consulting service for Korean companies seeking to expa
Asiana to sell cargo biz to help Korean Air win EU approval for takeover
Nov 2, 2023
Asiana Airlines Inc., South Korea's second-largest air carrier, said Thursday its board approved a plan to sell the company's cargo business, in a decision that could help Korean Air Co. win antitrust approval from European Union regulators for its takeover of the rival. In a regulatory filing, Asiana announced the board's decision, noting it as a part of remedial measures for Korean Air to be submitted to the European Commission to win approval for the merger. The decision came t
BOK breathes sigh of relief after Fed pauses rate hikes
Nov 2, 2023
Uncertainties linger, with Korea-US interest rate gap hitting all-time high
Industry ministry checks supplies of oil, gas over Middle East conflict
Nov 2, 2023
South Korea's industry ministry said Thursday it held a meeting with relevant authorities to check supplies of oil and gas as concerns grow over price volatility due to the widening Israel-Hamas war. "There have been concerns over prices in the early stages of the conflict, but no disruptions have been reported so far," Yoo Beop-min, director general of the ministry's resources policy, told the meeting. Prices of gasoline and diesel currently remain "relatively stable,&q
S. Korea's inflation grows faster, stays over 3 pct for third month in Oct.
Nov 2, 2023
South Korea's inflation grew at a faster pace in October, staying above 3 percent for the third consecutive month, due to higher prices of energy and farm goods, data showed Thursday. Consumer prices, a key gauge of inflation, rose 3.8 percent last month from a year earlier, compared with a 3.7 percent on-year increase the previous month, according to the report from Statistics Korea. It is the third month in a row that the annual price growth has picked up pace, though inflation has genera
US Fed keeps key lending rate unchanged for second consecutive time
Nov 2, 2023
The US Federal Reserve held its benchmark lending rate steady at a 22-year high for a second consecutive time during a monetary policy meeting on Wednesday, as it keeps striving to bring down inflation to its 2-percent target. After the two-day Federal Open Market Committee meeting, the central bank announced the decision to keep the rate between 5.25 and 5.50 percent. But it left open the possibility of a rate change later to achieve "maximum" employment and its inflation target. In t
Exports log first rise in 13 months in sign of trade recovery for Korea
Nov 1, 2023
South Korea's exports are showing signs of recovery, as the country’s outbound shipments in October rose on-year for the first time in 13 months. The country’s exports in October stood at $55.09 billion, a 5.1 percent increase from the same month last year. Imports declined by 9.7 percent to $53.5 billion, resulting in a trade surplus, according to preliminary data compiled by the Ministry of Trade, Industry and Energy and Korea Customs Service. Daily trade volume, taking into c
AmCham reaffirms Korea-US alliance in Washington
Nov 1, 2023
The American Chamber of Commerce in Korea said Wednesday that its delegation successfully concluded the three-day trip to Washington from Oct. 24-26, as part of its annual business promotion program it calls “Doorknock.” Over the course of three days, the delegation reaffirmed bilateral ties the two countries have established over the last seven decades, convening with key government officials of the Joe Biden administration as well as members of the US Congress. It also held over 30
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Controversy rekindled over when to name criminals, suspects
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[LLG] Unseen inheritance: Trauma of transnational adoption 'trickles down' to adoptees' children
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Court's ruling set to shape path of medical school expansion
Loans of self-employed swell 50% in four years
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