TOKYO -- Senior farming-issue policymakers of South Korea, China and Japan agreed to strengthen ties for sustainable agricultural growth, food security and agricultural economics cooperation Sunday.　In the second trilateral Agricultural Ministers’ Meeting in Tokyo on Sunday, South Korean Agricultural Minister Lee Dong-phil, Chinese Vice Agriculture Minister Chen Xiaohua and Japanese Agriculture and Fisheries Minister Yoshimasa Hayashi signed a joint communique to crack down on some common proble

The soon-to-be-established Asian Infrastructure Investment Bank plans to launch large-scale project financing to develop infrastructure in Asia next year, the China-led multilateral agency’s chief said Wednesday.　“In the next decade, Asia will be short of $8 trillion in its development funds … the AIIB will not wait long.” AIIB president-designate Jin Liqun said in Seoul.　Speaking at a news conference, he expressed hope that Korea will actively engage in the development projects.President Park G

(123RF)The two key interest rate cuts by the central bank this year have fueled mortgage growth amid the record-low loan rates, data showed Wednesday.　The Bank of Korea lowered the nation’s base rate to 1.75 percent on March 12 and further to 1.5 percent on June 11.　Following the June rate-cut, housing-collateralized loans to the household sector increased by about 7 trillion won ($5.8 billion) in July, compared to the previous month, BOK data showed.　The monthly mortgage growth from June to Jul

President-designate Jin Liqun of the Asian Infrastructure Investment Bank met with Korean officials including Finance Minister Choi Kyung-hwan and business leaders in Seoul on Tuesday.　The AIIB leader’s visit comes as the multilateral development bank led by China is ready to start funding infrastructure projects.　It was not immediately known the results of the meeting between Jin and Choi, but sources said the two leaders might have discussed ways for cooperation between Seoul and the banking i

Prudential International Insurance Asia president Jan van den Berg (front row, far left), Prudential Foundation of Korea chairwoman Sohn Byoung-ok (front row, second from left) and Prudential Life Insurance of Korea CEO Kurtis Jang (front row, far right) pose with the awardees at the Spirit of Community Awards ceremony in Seoul on Tuesday. (Prudential Foundation of Korea)The Prudential Foundation of Korea cohosted its 17th Spirit of Community Awards with the Korea Association of Secondary Educat

Actor Lee Min-ho poses with Binggrae’s banana-flavored milk. (Binggrae)After a year of regulatory consultations, South Korean dairy maker Binggrae will export its first commercial batch of banana-flavored milk to the Malaysian halal market, government officials said Monday.　According to South Korea’s Agriculture Ministry and Food Safety Ministry, 14.4 tons of the all-Korean flavored milk will be shipped to Malaysia on Sept. 12. Biggrae aims at exporting a total of 50 tons of banana-flavored milk

This Africa Zippo Rula (left) and This Africa Zippo Mola. (KT&G)KT&G Corp., the nation’s largest tobacco maker by market share, Monday rolled out its latest limited edition “This Africa Zippo” in collaboration with U.S. lighter maker Zippo. 　Available for sale for one month, the This Africa Zippo edition applies to two “This” categories: This Africa Rula and This Africa Mola. 　The two Zippo editions bring out a wild-and-strong image through metallic colors and illustrations of a roaring lion and

Financial Services Commission chairman Yim Jong-yong attends a meeting with heads of foreign banks operating here in Sogong-dong, central Seoul, on Friday. (Yonhap)Korea’s top financial regulator promised on Friday to ease regulations for foreign lenders seeking to expand their banking operations. 　In a meeting with the heads of foreign banks operating here, Financial Services Commission chairman Yim Jong-yong said he will actively engage in improving the regulatory system for foreign lenders as

South Korean President Park Geun-hye (far left), Korea Forest Service Minister Shin Won-sop (second from left), Indonesian Minister of Environment and Forestry Zulkifli Hasan (third from left) and Indonesian President Susilo Bambang Yudhoyono attend the signing ceremony of a bilateral forestry pact on Oct. 12, 2013. (Korea Forest Service)The Korea Forest Service is elevating Korea’s presence in the global forestation scene with the Korean forest welfare model, chipping in large-scale investments

Korea Forest Service Minister Shin Won-sop (eighth from left) and South Korean forest authorities visit Korindo Group’s lush forest plantation in Kalimantan, Indonesia, on July 2, 2013. (Korea Forest Service)The Korea Forest Service has successfully brought the nation’s advanced expertise in the forest leisure industry and ecological tourism to Indonesia, widening the scope of environmental cooperation between the two nations. 　KFS, the state agency for afforestation and forest resources, invite

(Korea Rural Community Corp.)The Korea Rural Community Corp. vowed to spread Korea’s advanced agricultural technologies to developing countries by establishing a new global education center in Ansan, Gyeonggi Province. 　The KRC on Tuesday hosted a groundbreaking ceremony of the Rural Community-International Education Exchange Center, or RC-IEEC, set to open by January 2017. 　The center aims particularly at sharing the know-how that Korea has accumulated in developing the rural regions, best exem

Hana Financial Group chairman Kim Jung-tai (center, front row) and KEB Hana Bank president Ham Young-joo (fourth from right, front row) attend the launching ceremony of KEB Hana Bank in the bank’s headquarters in central Seoul on Tuesday. (KEB Hana Bank)KEB Hana Bank, the result of a merger between Korea Exchange Bank and Hana Bank, was launched on Tuesday, vowing to lead the banking industry with stronger asset management services.　Upon officially capping the KEB-Hana merger, the new entity ros

South Korea’s business sentiment for September has slid again, as industrial players expect sagging exports and China’s economic slowdown to undo the Korea’s gradual recovery from the Middle East respiratory syndrome outbreak. 　According to the Bank of Korea report released on Monday, the September manufacturers’ business sentiment index, or BSI, fell to 68, down two points from a month ago. 　The BSI gauges the outlook of manufacturers on their business conditions for the coming month. An index

Hwan-denominated notes, issued in 1953. (Bank of Korea)King Sejong, whose portrait is printed on South Korea’s 10,000 won banknote, was a key figure of the 15th century in the Joseon era (1392-1910).　Other historical figures on the three other denominated bills (50,000 won, 5,000 won and 1,000 won) and the 100 won coin lived during the 16th century.　While the figures lived in the Joseon era’s earlier half, during which historians say currency usage was rare, their counterparts in the latter half