KFCC unites global leaders to promote digital financial inclusion

The Korean Federation of Community Credit Cooperatives, the nation's leading mutual financial institution, held an international forum in collaboration with the United Nations to discuss ways to boost digital financial inclusion in Jeju last week. The event drew ministers from 15 UN member states, financial experts from Japan and Italy, and representatives from global tech giants such as Google and GSMA. The forum tackled two primary topics: expanding financial access and fostering sustaina

IndustrySept. 29, 2024

Hyundai Steel's Hcore Store evolves to boost B2C sales

South Korean steelmaker Hyundai Steel is seeking to beef up its online sales capabilities through Hcore Store, the company’s e-commerce platform dedicated to steel products for construction, by diversifying offerings and introducing services to enhance customer convenience on the platform. Launched in July 2023, Hcore Store initially focused on promoting Hyundai Steel’s earthquake-resistant building material brand, Hcore. The platform began with core construction materials like rebar

CompaniesSept. 29, 2024

Korea, China, Japan vow to address yellow dust and climate change

SEOGWIPO, Jeju Island – South Korea, China and Japan adopted a joint communique on Sunday promising to collaborate on addressing the environmental challenges of yellow dust and climate change. The declaration came at the end of the annual meeting of environment ministers from the three countries held at International Convention Center on Jeju Island. Specifically, the three countries said they will enhance "3+X cooperation" to mitigate yellow dust levels, particularly through par

Foreign AffairsSept. 29, 2024

Seoul, Beijing pledge stronger ties at Chinese 75th anniversary event

South Korea and China reaffirmed their commitment to strengthening bilateral relations and communication, highlighting the significance of their partnership during a reception on Thursday celebrating the upcoming 75th anniversary of the founding of the People's Republic of China on Oct. 1. The Chinese Embassy hosted the event at The Shilla Seoul on Thursday, with the attendance of over 800 guests, including South Korean First Vice Foreign Minister Kim Hong-kyun, current and former lawmakers

Foreign AffairsSept. 29, 2024

45% of unregistered foreigners entered Korea on visa waivers: data

Nearly 45 percent of the over 423,000 unregistered foreign nationals living in South Korea had originally entered the country under its visa waiver program and overstayed their permitted period of stay as of the end of 2023, according to data from the Ministry of Justice released Sunday in a report created by Rep. Song Seog-jun of the ruling People Power Party. The data in the report said 16.9 percent of the more than 2.5 million foreign national residents in Korea were unregistered as of the en

Social AffairsSept. 29, 2024

Immigration policy must go beyond labor supply: experts

South Korea needs to shift its perspective on immigration beyond merely viewing immigrants as a solution to labor supply issues, experts said at a forum in Seoul last week. Emphasizing that any successful immigration policy must account for cultural, social and legal integration, Moon Jae-wan, president of the Korea Migration Law Association, said that overlooking the wider contributions of immigrants was a flawed approach. "In a rapidly changing global landscape, we must recognize immigr

Social AffairsSept. 29, 2024

LG Energy Solution seeks top talent at battery event

LG Energy Solution continues to put efforts into gathering top battery talents as the company looks for future leaders in the industry by hosting recruitment events. According to the battery maker Sunday, it held a Battery Tech Conference, or BTC, the company’s annual offline recruitment event, at LG Science Park in western Seoul on Friday. The last BTC took place in New York in May this year, gathering some 40 master’s and doctoral candidates from top-ranked schools in the US includ

CompaniesSept. 29, 2024

KMA chief under pressure after surveyed doctors refuse to back him

The leader of South Korea's largest doctors association is under pressure after the majority of a group of members surveyed expressed no confidence in him. In a survey of Korean Medical Association members run from Aug. 28 to Sept. 27 by several high ranking KMA officials, more than 77 percent of the participants expressed no confidence in the group's president, Lim Hyun-taek, according to the medical community on Sunday. Figures on the number of members surveyed were not made public

Social AffairsSept. 29, 2024

Meditation brings calm to Gwanghwamun

Tens of thousands descended on Gwanghwamun Square in Seoul for a Buddhist meditation retreat Saturday, as the nation’s largest Buddhist sect seeks to address real-life challenges. The second day of the five-day Seon Meditation Summit, attended by 35,000 people, is the latest highlight of the Jogye Order of Korean Buddhism’s push to promote its own style of meditation. “It’s time for a spiritual revolution. No matter how advanced technologies or the economy becomes, the mi

CultureSept. 29, 2024

Sales start for Hyundai E&C's Hillstate in Daejeon

Hyundai Engineering & Construction has started sales for its latest residential complex Hillstate Gayang The Wise with easy access to transportation and abundant living infrastructure in Daejeon, the firm said Sunday. The high-rise complex in Dong-gu district consists of three 49-story towers with four underground levels, offering 358 units ranging from 84 to 155 square meters. The planned Dongbu Station on Daejeon Metro Line 2, the complex is poised to become a prime residential area once t

IndustrySept. 29, 2024

National Theater of Korea to screen recent plays from Europe

The National Theater of Korea brings recent acclaimed international drama productions to the screen in Seoul as part of its NTOK Live Plus program. From Oct. 16 to 20, three productions -- including two premieres and a rescreening of "Ibsen House" -- will be screened at the National Theater’s Daloreum Theater in Seoul. Director Rupert Goold’s "Dear England," which will be screened Oct. 15 and 19, is a critically acclaimed play that won the Best New Play and Best S

PerformanceSept. 29, 2024

Ateez 1st K-pop artist to perform at Paris' La Defense Arena

Popular K-pop boy group Ateez is set to continue its world tour, “Towards the Light: Will to Power,” in Europe. According to KQ Entertainment, Ateez will be visiting nine countries in Europe for a total of 12 shows from January to February 2025, kicking off the European leg of its world tour in France. It will be the first time for Ateez to perform standalone concerts in Lyon, Zurich, Manchester, Barcelona and Cologne. Ateez will make history as the first K-pop artist to hold a stand

K-popSept. 29, 2024

Korean American documentary ‘Free Chol Soo Lee’ wins Emmy

“Free Chol Soo Lee,” a 2022 US documentary about a Korean immigrant who was wrongfully convicted in 1973 of murdering a gang leader in San Francisco, won an award at the 45th News & Documentary Emmy Awards. “Free Chol Soo Lee” won in the Outstanding Historical Documentary category during the Emmy Awards, which took place in New York on Thursday local time, according to the film's distributor, Connect Pictures. The four other contenders were: MSNBC’s “

FilmSept. 29, 2024

Banks' household loans inch down amid tightening efforts

Banks' household loans inch down amid tightening efforts Despite banks' move to tighten household lending, home-backed loans fell a mere 5 percent on-month in September from a record high level a month earlier, data showed Sunday. The daily average amount of new mortgages extended by five major lenders came to 301.8 billion won ($230.1 million) in Sept. 1-26, down 16 percent from the daily average logged in August, according to data from the banks. Excluding the three-day Chuseok holid

EconomySept. 29, 2024

S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time

South Korea will show off a new ballistic missile and other key weapons systems on the 76th founding anniversary of its armed forces this week, officials said Sunday, in an apparent warning against North Korea's provocations. The Hyunmoo-5, known to be able to carry a warhead weighing 8-9 tons, will be displayed during both the ceremony at Seoul Air Base in Seongnam, just south of the capital, and a military parade in downtown Seoul on Tuesday, according to the officials. "We showcased

DefenseSept. 29, 2024

S. Korea, China FMs signal Yoon-Xi summit during APEC in November

The top diplomats of South Korea and China agreed to continue high-level meetings between the two countries on the margins of multilateral gatherings, the foreign ministry said Sunday, signaling a summit between President Yoon Suk Yeol and Chinese President Xi Jinping. Foreign Minister Cho Tae-yul and his Chinese counterpart, Wang Yi, reached the agreement as they met in New York on the sidelines of the UN General Assembly to discuss bilateral ties and security on the Korean Peninsula, according

Foreign AffairsSept. 29, 2024

Credit card loans hit record high this year: data

Credit card loans have risen sharply to reach an all-time high this year as banks have tightened lending and small businesses have suffered financial difficulties amid weak domestic demand, officials said. Loans extended by eight major credit card firms reached 44.67 trillion won ($34.05 billion) during the first eight months of 2024, surpassing the total amount for all of 2023, which stood at 41.55 trillion won, according to data from the Financial Supervisory Service and released by Rep. Kang

EconomySept. 29, 2024

Hezbollah leader Hassan Nasrallah is killed in Beirut strike, Israel's military says

Israel said Saturday that it killed Hezbollah leader Hassan Nasrallah, dealing its most significant blow to the Lebanese militant group after months of fighting. There was no immediate confirmation from Hezbollah. Nasrallah becomes the latest, and by far the most powerful, target to be killed by Israel in weeks of intensified fighting with Hezbollah. The army said that several top Hezbollah commanders were killed along with Nasrallah in a powerful airstrike Friday. The military said it carried o

World NewsSept. 28, 2024

Thousands rally in Seoul to call for Yoon's resignation

Thousands of people gathered in the capital city of Seoul to call for Yoon Suk Yeol's resignation on Saturday, as a coalition of left-wing groups blamed the president for tensions on the Korean Peninsula and economic strains. According to police, about 5,000 people are estimated to have flocked to Sejongdaero at 3 p.m. near Namdaemun in central Seoul to protest Yoon's leadership, as the conservative president's five-year term is now about halfway through. The coalition estimated t

PoliticsSept. 28, 2024

[What to see] Gallery-hopping: From Korean abstract art pioneer to Urs Fischer

Take a stroll in downtown Seoul to check out some art amid the autumn breeze, works by emerging artists at Peres Projects near Songhyeon Yeollin Park, Korean pioneering abstract artist at PKM Gallery in Samcheong-dong and Swiss-born, US-based artist Urs Fischer at Jason Haam in Seongbuk-gu. Emerging artists at Peres Projects Peres Projects in Seoul is currently presenting exhibitions of British artist Rebecca Ackroyd and Danish artist Anton Munar. Ackroyd's “The Party Is A Woman&rdquo

Arts & DesignSept. 28, 2024