Household loan growth slows in September

The growth pace of household loans slowed in September amid fresh loan tightening measures and the extended holiday period, data showed Sunday. As of last Thursday, the accumulative household loan balance at the five major banks — KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, and NongHyup Bank — totaled 728.9 trillion won ($545.6 billion), reflecting a marginal increase of 2.72 trillion won since the end of August. At the current pace, the monthly increase for September is ex

EconomySept. 22, 2024

Yoon returns home from Czech trip focused on nuclear energy cooperation

President Yoon Suk Yeol returned home Sunday from his trip to the Czech Republic, focused on strengthening South Korea's bid to secure a nuclear energy deal and enhance economic ties with the European nation. Yoon held summit talks with Czech President Petr Pavel and Prime Minister Petr Fiala on Thursday and Friday, promoting Korea Hydro & Nuclear Power's (KHNP) bid to build two nuclear power plants in Dukovany, after being selected as a preferred bidder in July. His visit came as

Foreign AffairsSept. 22, 2024

[New in Korean] Can knowing your past life save your present one?

"The Novice Shaman Reading Past Lives" By Lee Sun-young Clayhouse A pair of novice shamans claim that past-life insights can unravel present-day problems. With their help, people find a second chance at life in this heartwarming drama infused with comedy and emotion. The fortune-telling shop Miss Korea has garnered a reputation for helping clients discover their past lives. The vibrant place is run by two shamans: There's the enigmatic Madame Go, whose age remains a mystery, and D

BooksSept. 22, 2024

[Weekender] Young Koreans more open to Japanese cultural products

Japanese songs playing on South Korean TV and radio stations and giant posters of Japanese anime hung outside cinemas -- unimaginable just over two decades ago -- are no longer surprising. This year marks 20 years since Korea fully opened its doors to Japanese pop culture products. Following liberation from 35 years of Japanese colonial rule in 1945, Korea had banned Japanese cultural products from reaching its shores, only gradually opening the market to Japanese cultural products in 1998. The

CultureSept. 21, 2024

Jeju's solo traveler-friendly spots offer solitude as well as camaraderie

The Jeju Tourism Organization has unveiled five destinations that are a perfect fit for holidaymakers who travel solo to South Korea’s southern Jeju Island. The tourism organization's recent data shows one out of 10 South Koreans traveling to Jeju Island to be a solo traveler and services that cater to the needs of those traveling alone are on the rise on the island. The destinations introduced by the Jeju Tourism Organization allow vacationers not only to escape the scorching summe

TravelSept. 21, 2024

Illegal drones cause 122 flight disruptions in four years

A total of 122 flights have been disrupted due to illegal drone activities over the past four years, data showed Thursday, prompting calls for stricter measures and penalties. From September 2020 to August 2024, a total of 506 cases of unauthorized drone activities were detected in the airspace around airports, and 122 cases affected flight operations, according to data from the Incheon International Airport Corporation and Korea Airports Corporation, submitted to Rep. Ahn Tae-jun of the main op

MobilitySept. 21, 2024

[New in Korean] Architectural wonder, love story in Paris from award-winning architect/novelist

"To Where the Light Leads" By Baek Hee-sung Book Romance Lumiere Clerget is a disheartened architect who, despite designing beautiful homes for others, struggles to find a place he can call his own. One day, he receives a call from his real estate agent who has miraculously found him an affordable listing in Paris. The house, with its peculiar features like an unusually low staircase handrail, intrigues Lumiere. He discovers that the house belongs to Peter Waltzer, a wealthy man living

BooksSept. 21, 2024

40% of Korea's workers who reported bullying faced retaliation: survey

Some 40 percent of South Korean workers who reported workplace bullying said they faced retaliation from their superiors afterward, a survey by a local civic group showed Wednesday. Workplace Gabjil 119, an organization that assists victims of workplace abuse, surveyed 1,000 workers across the country in the second quarter of this year about bullying at the workplace. Of the 305 respondents who said they had been bullied, only 12.1 percent said they had reported the case to the company or labo

Social AffairsSept. 21, 2024

Over 82,000 Korean young people unemployed, not searching for job long-term

Nearly a quarter million South Korean young people have been unemployed for at least three years, recent government data showed Thursday, with over 80,000 saying they were neither looking for work nor receiving education related to their career during the period. According to Statistics Korea, 238,112 people aged 15-29 were found not to be working at least three years after graduating from their most recent educational institution, as of May this year. Of those, 82,545 said they weren't d

Social AffairsSept. 21, 2024

Korea’s influential ‘ants’ to rally against capital gains tax

South Korea’s retail investors are trying to exert their influence on the country’s stock market policies, having tasted success in their last campaign. Dubbed as “ants” for their ability to influence policies when they act as a group, the individual investors are backing a proposal by President Yoon Suk Yeol’s administration to scrap a capital gains tax imposed on financial investments. The main opposition Democratic Party opposes the abolition of the levy, say

EconomySept. 21, 2024

Sri Lanka votes in first poll since economic collapse

Cash-strapped Sri Lanka was voting for its next president Saturday in an effective referendum on an unpopular International Monetary Fund austerity plan enacted after the island nation's unprecedented financial crisis. President Ranil Wickremesinghe is fighting an uphill battle for a fresh mandate to continue belt-tightening measures that stabilized the economy and ended months of food, fuel, and medicine shortages. His two years in office restored calm to the streets after civil unrest

World NewsSept. 21, 2024

California governor signs law to protect children from social media addiction

California will make it illegal for social media platforms to knowingly provide addictive feeds to children without parental consent beginning in 2027 under a new law Democratic Gov. Gavin Newsom signed Friday. California follows New York state, which passed a law earlier this year allowing parents to block their kids from getting social media posts suggested by a platform’s algorithm. Utah has passed laws in recent years aimed at limiting children’s access to social media, but the

World NewsSept. 21, 2024

Rare Israeli airstrike in Beirut kills Hezbollah commander and more than a dozen others

Israel launched a rare airstrike that killed a senior Hezbollah military official in a densely populated southern Beirut neighborhood on Friday. It was the deadliest such strike on Lebanon’s capital in decades, with Lebanese authorities reporting at least 14 people killed and dozens more wounded in the attack. The Israeli military’s chief spokesman, Rear Adm. Daniel Hagari, said the strike on Beirut's southern Dahiya district killed Ibrahim Akil, a commander of Hezbollah&rsquo

World NewsSept. 21, 2024

600 evacuated as heavy rain floods roads, homes in southern regions

Heavy overnight rains across South Korea triggered landslides and flooding, forcing the evacuation of more than 600 people in southern regions and submerging roads and buildings Saturday. No casualties have been reported so far, according to authorities. Heavy rain warnings were in effect across the southern Gyeongsang region and parts of Gangwon, Chungcheong and Jeolla provinces as of Saturday morning, with more rainfall expected through Sunday, according to the Korea Meteorological Adminis

Social AffairsSept. 21, 2024

[New in Korean] 'Loh Ki-wan' author explores life, death, meaninglessness of war

"Light and Melody" By Cho Hae-jin Munhakdongne Publishing “Light and Melody” intertwines the stories of Kwon-eun, a documentary photographer, and Seung-joon, a journalist, whose paths cross again seven years after they rekindle their bond from cherished childhood memories. Kwon-eun is left physically and emotionally scarred after an injury that cost her half of her left leg while reporting in war-torn Syria. Now unable to return, she rejects all commissions and barely scrap

BooksSept. 21, 2024

S. Korea to inject $37m in joint R&D projects with Czech Republic

PRAGUE -- South Korea is poised to inject $37 million in joint research and development projects with the Czech Republic in the next decade, according to President Yoon Suk Yeol's office on Friday. Park Sang-ook, senior presidential secretary for science and technology, told reporters in a briefing in Prague that Seoul's estimated annual R&D budget spending will translate into a 20-fold surge compared with the level in the past from 1995 to 2015. Park added that the spending will g

PoliticsSept. 21, 2024

S. Korea, Czech Republic to increase direct flights

PRAGUE -- South Korea and the Czech Republic will increase nonstop flights for the first time since 1998, as President Yoon Suk Yeol's visit to Prague is expected to offer people from the two countries more opportunities for exchanges. The growing potential of strengthened ties between the two countries -- partly with a South Korean group being selected as the preferred bidder for the 24-trillion won nuclear export deal in the Central European country in July -- led to a decision to "i

PoliticsSept. 21, 2024

Yoon, Fiala seek wider range of cooperation beyond nuclear energy

PRAGUE -- President Yoon Suk Yeol and the Czech Republic's Prime Minister Petr Fiala on Friday adopted action plans to implement the strategic partnership between the two countries for the next three years, seeking a wider range of cooperation beyond South Korea's potential nuclear export to the Czech Republic. Under the new action plan, effective 2025 -- or the 10th anniversary of the bilateral strategic partnership -- the area of cooperation between Seoul and Prague will no longer be limited t

PoliticsSept. 21, 2024

Seoul, Prague to team up throughout nuclear energy project delivery

PRAGUE -- The governments, state-run firms and private-sector companies of South Korea and the Czech Republic signed 13 memoranda of understanding to team up with one another for the entire process and delivery of the nuclear power unit construction project. According to the presidential office, these documents will allow South Korean and Czech entities to collaborate on the preconstruction, construction and postconstruction stages of nuclear power units, if a group of South Korean firms clinch

PoliticsSept. 20, 2024

EU pledges to loan Ukraine up to $39 billion to help rebuild its economy and power grid

KYIV, Ukraine (AP) — The European Union pledged on Friday to lend Ukraine up to 35 billion euros ($39 billion) as part of a loan package organized by the Group of Seven major industrial nations, as it seeks to help the country rebuild its economy and its war-shattered power grid. G7 leaders agreed in June to engineer a $50 billion loan to help Ukraine in its fight for survival. Interest earned on profits from Russia’s frozen central bank assets would be used as collateral, but progre

World NewsSept. 20, 2024