BOK to test feasibility of tokenized bank money-based voucher

South Korea's central bank said Wednesday it will test the feasibility of a digital voucher based on a tokenized deposit as part of its trial to introduce a wholesale central bank digital currency (CBDC). Along with the Financial Services Commission, the Ministry of Science and ICT, and the Bank of Korea will test the feasibility of a tokenized deposit-based voucher program for use on smartphones via a digital voucher management platform, which can be available for culture, education and ot

EconomyNov. 6, 2024

Season's first frost seen in Seoul, Daejeon

The season's first frost was observed in Seoul, Daejeon and other parts of the country on Wednesday, up to 16 days later than previous years, the state weather agency said. The first frost was observed in Seoul and Suwon, south of the capital, nine days later than in the average year but two days earlier than last year, the Korea Meteorological Administration said. The central cities of Daejeon and Cheongju also witnessed the first frost this fall, 16 days later and two days earlier than la

Social AffairsNov. 6, 2024

[영어답게 표현하기] 유용한 비즈니스 영어 표현들

이번 회에는 저희 책 Advanced Vocab에서 소개한 중상급 영단어들을 알려드립니다. 단어의 우리말 뜻을 기억하는 데에 그치지 않고, 난이도 있는 단어를 실제로 활용하는 단계까지 나아가 보기 바랍니다. 〈빠른 움직임, 열정적인 움직임〉 1. ransack [rǽnsæk] 뒤지다 ran(house)+sack(seek와 같은 어원)으로 이루어진 단어다. 어떤 공간을 다 뒤엎다시피 하면서 샅샅이 뒤지는 것을 뜻한다. Lisa came home to find that her place had been ransacked and quickly checked to make sure that her jewelry had not been stolen. 집에 돌아와서 누군가 집을 뒤졌다는 사실을 발견하자 리사는 황급히 보석이 도난당하지는 않았는지 확인했다. ● 피해자의 아파트는 뒤진 흔적이 없었고 도난당한 물품도 없었다. The victim’s apa

English EyeNov. 6, 2024

Seoul shares open higher on US rally

South Korean stocks kicked off higher Wednesday tracking an overnight tech rally on Wall Street. The benchmark Korea Composite Stock Price Index rose 9.64 points, or 0.37 percent, to 2,586.52 in the first 15 minutes of trading. Overnight, major US indexes gained ground as a report on the services industries shows that the US economy is still strong. The Dow Jones Industrial Average advanced 1.02 percent, the tech-heavy Nasdaq Composite increased 1.43 percent, and the S&P 500 went up 1.23 per

MarketNov. 6, 2024

Ukraine's Zelenskyy confirms first combat engagement with N. Korean troops

Ukrainian President Volodymyr Zelenskyy has confirmed the Ukrainian military's first combat engagement with North Korean troops, saying it opened a new chapter of instability in the world. Zelenskyy, in a video address posted on the Ukrainian president's official website Tuesday, said, "The first battles with North Korean soldiers open a new page of instability in the world." "I want to thank everyone in the world who reacted to the deployment of North Korean soldiers in

Foreign AffairsNov. 6, 2024

[Korea Quiz] Mystery bride

Find the answer at the bottom. "Ureong Bride" is a Korean folktale about a widowed peasant and a mysterious, generous woman who comes into his life. In Korean, the title reveals the maiden’s secret right away: she is not a human but an “ureong,” a freshwater river snail that inhabits streams and rice paddies. Here is one version of the story. Long ago, a poor, widowed farmer found a fist-sized river snail without its shell near a rice paddy. Concerned that the

Hashtag KoreaNov. 6, 2024

[Graphic News] Cancer leads causes of death in S. Korea

Cancer remained the leading cause of death among South Koreans last year, according to data from Statistics Korea. A total of 352,511 deaths were recorded in 2023, a decrease of 5.5 percent from the previous year, marking a decline after three years of increases. The decline in the total number of deaths is partly attributed to the country’s COVID-19 measures. However, excluding deaths due to COVID-19, the overall number of fatalities actually increased. COVID-19, which was the third lea

Social AffairsNov. 6, 2024

[Daniel DePetris] Is there really an ‘axis of evil’?

If we didn’t know any better, we might flip through the newspaper and conclude that the international order the United States helped construct after World War II was coming apart. We might also be led to believe that four countries, China, Russia, Iran and North Korea, are not only contributing to its demise but also forming an alliance to destroy the so-called rules-based order that senior US officials crow about. Since the war in Ukraine erupted in February 2022, US foreign policy expert

ViewpointsNov. 6, 2024

[Kim Seong-kon] Traveling on the Silk Road for the Golden Fleece

The worst tragedies of human history tend to arise from our too-rigid notions of binary oppositions and our hatred of the other. The antagonisms between the East and the West, Christianity and Islam, or capitalism and communism are good examples. History shows us that the atrocities of wars, massacres and genocides are done in the name of God, the righteousness of pure ideology or delusions of racial supremacy. Recently, I came across a riveting book of poems by the renowned Korean poet Oh Sae-y

ViewpointsNov. 6, 2024

America reaches Election Day and a stark choice between Trump and Harris

WASHINGTON (AP) -- A presidential campaign marked by upheaval and rancor approached its finale on Election Day as Americans decided whether to send Donald Trump back to the White House or elevate Kamala Harris to the Oval Office. Polls opened across the nation Tuesday morning as voters faced a stark choice between two candidates who have offered drastically different temperaments and visions for the world’s largest economy and dominant military power. Harris, the Democratic vice president,

World NewsNov. 5, 2024

SM Entertainment Q3 earnings fall amid lower album sales, rising costs

SM Entertainment reported a sharp decline in third-quarter earnings Tuesday, attributing the downturn to reduced album sales and rising production costs while hinting at the debut of a new girl group in January. The parent company’s regulatory filing showed consolidated revenue of 242.2 billion won ($175.6 million) and an operating profit of 13.3 billion won, reflecting a 9 percent drop in revenue and a significant 73.6 percent decline in operating profit, year-on-year. The company point

K-popNov. 5, 2024

Russia says N. Korea's missile tests were 'legitimate' defensive measures: TASS

MOSCOW (Yonhap) -- Russian Deputy Foreign Minister Andrey Rudenko said Tuesday that North Korea's missile tests were "legitimate" defensive measures in response to what he described as the United States' "provocations," Russia's state-run news agency reported. Rudenko reiterated the stance of Russia's Permanent Representative to the UN, Vasily Nebenzya, who has defended North Korea's ballistic missile activities, which are prohibited under UN Security

North KoreaNov. 5, 2024

Tax fraud investigators search Netflix offices in Paris and Amsterdam, says source

Investigators searched the offices of US streaming giant Netflix in France and the Netherlands as part of a preliminary investigation into tax fraud laundering, a French judicial source said on Tuesday. French paper Marianne, which first reported the searches, said investigators specializing in financial crime and corruption raided the company's offices in central Paris on Tuesday morning. The French investigation, carried out by the PNF, a special financial crime prosecution unit notorious

IndustryNov. 5, 2024

South Korea fines Meta for illegal collection of user data

US tech giant Meta illegally harvested sensitive data including on sexual orientation from nearly a million South Korean Facebook users and shared it with advertisers, Seoul's data watchdog said Tuesday. The firm, which also owns Instagram, violated South Korean laws prohibiting the use of information on political opinions, religious beliefs and people's sex life unless the individual provides explicit consent, Seoul's Personal Information Protection Commission said. The tech gian

IndustryNov. 5, 2024

Delhi wants artificial rain to tackle worsening air pollution

India's capital territory of Delhi is keen to use artificial rain to fight air pollution this year, its Environment Minister Gopal Rai said on Tuesday, as deteriorating air quality in the region led to an increase in respiratory illnesses. Large swathes of north India battle pollution each winter as cold air traps dust, vehicle emissions and smoke from farm fires in the breadbasket states of Punjab and Haryana, shrouding the national capital and its suburbs in a toxic haze. Cloud-seeding --

World NewsNov. 5, 2024

KT to cancel W1tr of stocks by 2028 for corporate value

KT Corp., a major South Korean mobile carrier, said Tuesday it will cancel 1 trillion won ($726 million) worth of treasury shares by 2028 as part of its efforts to enhance its corporate value. Under the "value-up program," KT will focus on improving profitability and evolving into a comprehensive artificial intelligence and information technology company, the company said in a statement. KT aims to achieve a 9 to 10 percent return on equity by 2028 by restructuring low-growth businesse

CompaniesNov. 5, 2024

Yoon touts defense cooperation between S. Korea, Saudi Arabia

President Yoon Suk Yeol said Tuesday the defense industry cooperation between South Korea and Saudi Arabia will play a pivotal role in advancing the two countries' relations in a broad range of fields. Yoon called the oil-rich country a "key partner" for South Korea's economy and energy security during a meeting with Abdullah bin Bandar Al Saud, Saudi minister of the National Guard, at the presidential office. "The defense collaboration between the two countries would no

DefenseNov. 5, 2024

Despite funding cut, 50th Seoul Independent Film Festival to screen record no. of films

The Seoul Independent Film Festival, South Korea’s only competitive independent film festival -- now in its 50th year -- is taking place Nov. 28 to Dec. 6. According to the organizers, the festival this year saw the highest number of films submitted since its establishment in 1975 -- a total of 1,704 feature and short indie films. “We think creators who want to focus on works that contain their voices have returned to the indie scene,” said Festival Director Kim Dong-hyun durin

FilmNov. 5, 2024

Sports ministry demands strong measures from KFA amid coach hiring irregularities

The Ministry of Culture, Sports and Tourism demanded Tuesday that the Korean Football Association take strong action following the discovery of irregularities in the process of appointing Hong Myung-bo as coach of the national soccer team. The ministry’s demand included a suspension or harsher disciplinary action against high-level officials, including Chairman Chung Mong-gyu, who has been at the helm of the football governing body since 2013. Amid concerns that the KFA might not act dec

CultureNov. 5, 2024