South Korea's top diplomat said Thursday that Japan would "bear the cost" of tarnishing its international image and reputation if it continues to renege on its commitments to address the historical issue of forcibly mobilizing Korean workers during its colonial rule from 1910 to 1945. Foreign Minister Cho Tae-yul publicly criticized Japan for failing to honor its pledge to hold a memorial ceremony to sincerely honor the sacrifices of Korean forced laborers at the Sado Gold Mine in

The Bank of Korea slashed the base interest rate for the second consecutive time Thursday, amid heightened uncertainties and slow growth. The cut surprised the market as the local currency has weakened against the dollar in recent weeks. The Bank of Korea’s monetary policy board trimmed the base rate by 25 basis points, bringing it down to 3 percent. Four of the other six monetary policy board members, not including BOK Gov. Rhee Chang-yong, agreed to the rate cut, while the remaining two

The emergence of K-pop powerhouses’ “localized” groups such as VCHA, Katseye, and Dear Alice has sparked debates over whether they can be called K-pop acts. Despite their association with prominent K-pop agencies, industry experts largely agree that they fall outside the traditional definition of K-pop. Major players in the K-pop industry, including Hybe, JYP Entertainment and SM Entertainment, have identified localization as the next step in the genre’s evolution. This s