Banks' lending rates dip to record low in Aug.

Lending rates on fresh bank loans dropped to new lows in August, central bank data showed Thursday, hinting at a further increase in the country's already record-high household borrowing.The average interest rate on fresh loans extended to households came to 2.92 percent in the month, down 0.20 percentage point from 3.12 percent the previous month, according to the data from the Bank of Korea. The average rate on fresh corporate loans also dropped by 0.20 percentage point to 3.32 percent over th

EconomySept. 26, 2019

[News Focus] Prosecution reform stands at crucial crossroads

SEJONG -- In South Korea, the military seized control of state affairs for about three decades from the 1960s to the 1980s.Though Korea is no longer a dictatorship, if asked whether the country still has a privileged class with an abundance of unchecked power, no doubt most ordinary people would not hesitate to point the finger at prosecutors.But certain segments of society -- notably prosecutors and right-wing politicians -- would vociferously disagree. They would say the prosecution has carrie

PoliticsSept. 26, 2019

Top diplomats of S. Korea, Saudi Arabia hold talks at UN gathering

The top diplomats of South Korea and Saudi Arabia held talks in New York on Wednesday (US time) and discussed ways to boost bilateral ties and other regional issues, the foreign ministry said.During the talks with her Saudi counterpart, Ibrahim bin Abdulaziz Al-Assaf, Foreign Minister Kang Kyung-wha expressed satisfaction that the amicable bilateral relationship has led to developments in such fields as energy, infrastructure and information and communication technology, the ministry said in a r

Foreign AffairsSept. 26, 2019

Trump calls Democratic impeachment inquiry a 'joke'

NEW YORK (AFP) -- A downbeat Donald Trump on Wednesday dismissed as a "joke" the grounds laid out for the impeachment inquiry into him, as Democrats stood firm in accusing the US president of a "mafia-style shakedown" of his Ukrainian counterpart.Trump denied claims he abused his office by repeatedly urging President Volodymyr Zelensky to probe his rival Joe Biden -- as confirmed in a call transcript released by the White House.The next explosive episode in the rapidly unfold

World NewsSept. 26, 2019

Seoul to clamp down on taxi drivers overcharging foreign tourists

The government of Seoul on Thursday announced a plan to crack down on taxi drivers who overcharge foreign tourists in time for the peak autumn tourist season.The crackdown is scheduled for Sept. 30-Oct. 9, a period that coincides with China's National Day holiday falling on Oct. 1-7, the Seoul Metropolitan Government said.The crackdown will be intensively conducted in airports, hotels and popular tourist destinations, it said, noting that municipal officials who can speak foreign languages such

Social AffairsSept. 26, 2019

Korea's financial stability slightly worsens amid economic slowdown: BOK

South Korea's financial stability worsened slightly in August due to a rise in household and corporate debt in the face of an economic slowdown, a central bank report showed Thursday.The country's financial stability index came to 8.3 at the end of last month, breaching the 8-point mark for the first time since early 2016, according to the Bank of Korea.The 8-point mark is the lower boundary for a warning, while an index of over 22 means the country may be in a financial crisis, according to the

EconomySept. 26, 2019

Movement ban extended amid looming concerns over further spread of swine fever

South Korea's quarantine authorities on Thursday extended a movement ban on all pig farms, feed factories and other related facilities as multiple suspected cases of African swine fever raise concern over the nationwide spread of the deadly animal disease.Since the first-ever ASF case in South Korea was confirmed on September 17, there have been six further confirmed instances of the highly contagious disease. Two other suspected cases were reported earlier in the day.The agriculture ministry, w

Social AffairsSept. 26, 2019

S. Korea, US hold biannual defense talks

South Korea and the United States opened biannual defense talks in Seoul on Thursday to discuss regional security and other pending alliance issues, the defense ministry said.The 16th Korea-US Integrated Defense Dialogue, set to run through Friday, came at a time when the allies are facing sensitive issues, such as Seoul's termination of a military information-sharing deal with Japan and ongoing negotiations on the sharing of costs for the stationing of American troops here.Deputy Defense Minist

Foreign AffairsSept. 26, 2019

70% of S. Koreans expect Kim Busan trip to be positive for nuclear talks, cross-border ties

About 70 percent of South Koreans think that a trip to the South by North Korean leader Kim Jong-un for a summit with Southeast Asian leaders would have a positive impact on denuclearization talks and inter-Korean relations, a survey showed Thursday.On Tuesday, the country's spy agency raised the possibility that Kim could visit the southern port city of Busan for the special summit that South Korea is to host in November for the leaders of the 10-nation Association of Southeast Asian Nations.Ac

North KoreaSept. 26, 2019

[팟캐스트] (319) 영양제 맞으러 온 임산분에 '낙태 수술' / 올 가을 즐길 수 있는 째즈뮤직 페스티벌

 진행자: 김보경, Kevin Lee Selzer1. [Newsmaker] Doctor performs abortion on wrong patient아이튠즈(아이폰): https://itunes.apple.com/kr/podcast/koliaheleoldeu-paskaeseuteu/id686406253?mt=2팟빵 (안드로이드): http://www.podbbang.com/ch/6638[1] A pregnant woman here *lost her child when a doctor *performed an *abortion after medical staff *mixed up her *medical chart with that of another patient.*lost: 잃다*perform: 행하다*abortion: 낙태*mixed up: 뒤죽박죽하다*medical chart: 진료 기록[2] Seoul Gangseo Police Station on Monday said

PodcastSept. 26, 2019

Foreign ministers of S. Korea, China agree to continue cooperation on NK

The foreign ministers of South Korea and China met in New York Wednesday and agreed to continue cooperation over North Korea's denuclearization, a Seoul official said.South Korean Foreign Minister Kang Kyung-wha and her Chinese counterpart, Wang Yi, held talks for 30 minutes on the sidelines of the United Nations General Assembly, according to the South Korean foreign ministry official, who added that it was their first meeting since Wang visited Pyongyang in early September. On that trip, Wang

Foreign AffairsSept. 26, 2019

Moon leaves New York after talks with Trump, UN address

South Korean President Moon Jae-in headed back to Seoul on Wednesday after a hectic visit here highlighted by talks with US President Donald Trump and a speech at a UN session.Moon had his ninth summit with Trump on Monday, in which they discussed ways to make headway in working-level nuclear talks between Pyongyang and Washington that will resume soon. They reaffirmed the principle of avoiding hostile acts against Pyongyang and help it move toward a bright future in case of denuclearization.The

Foreign AffairsSept. 26, 2019

Trump, Abe note importance of trilateral cooperation with S. Korea

US President Donald Trump and Japanese Prime Minister Shinzo Abe noted the importance of trilateral cooperation with South Korea during their talks in New York Wednesday, the White House said.In their meeting on the sidelines of the United Nations General Assembly, Trump and Abe discussed issues of mutual interest and signed a preliminary bilateral trade agreement.The White House did not elaborate on the discussions on South Korea, but the two leaders are likely to have touched on the escalating

Foreign AffairsSept. 26, 2019

S. Korean teen scores 1st La Liga goal in 1st start

South Korean teenage midfielder Lee Kang-in finally has a goal to his credit in Spain.The 18-year-old scored his first La Liga goal in his first start for Valencia CF in their 3-3 draw with Getafe at Mestalla Stadium in Valencia on Wednesday (local time).Lee's goal in the 39th minute gave Valencia a 3-1 lead, but Getafe rallied with two second-half goals for a draw. At 18 years and 219 days, Lee became the youngest non-Spanish player to score for Valencia. He's also the second South Korean playe

SoccerSept. 26, 2019

Hyundai Engineering bags $2.2b project in Indonesia

Hyundai Engineering has landed a $2.2 billion refinery development project deal in Balikpapan in Borneo, Indonesia, reestablishing its position as a powerful player in the petrochemical market, the company said Wednesday. Indonesia is the biggest petroleum producer among the Association of Southeast Asian Nations. The Balikpapan refinery is located in the East Kalimantan province, some 20 kilometers from the new capital of Indonesia.  According to Hyundai Engineering, Indonesia’s stat

IndustrySept. 26, 2019

Asia Water Council held in China to address water crises

The two-day 10th board meeting of the Asia Water Council ended Wednesday in Wuhan, China, sharing views on practical ways to address water crises in the region.The meeting discussed ways to further activate the “Water Project,” an AWC project driven to give financial support to each Asian country’s plans to resolve water crisis. The board also discussed the means to bolster financial integrity of the AWC. Some 100 people from 37 institutions participated in this year’s bo

IndustrySept. 26, 2019

[Graphic News] S. Korea on high alert over African swine fever epidemic

　South Korea confirmed its fifth case of African swine fever on Tuesday, even as 15,000 pigs have been culled since the first case was reported on Sept 17. 　The ASF epidemic has led to millions of pigs being culled since last year in Asia. 　In May, the UN Food and Agricultural Organization said pork prices had risen by up to 50 percent both in China and on the Chicago Mercantile Exchange as a result of the outbreak of ASF which was first detected in Asia in August last year.　Last month, it said

World NewsSept. 25, 2019

[News brief] Ethics teacher in Gwangju accused of child abuse

The case of a middle school teacher who was investigated by police on allegations of child abuse for screening an indecent film in class has been sent to the prosecution.The Gwangju Nambu Police Station said Wednesday that the case has been referred for violation of the Child Welfare Act.Ethics teacher Bae-Lee Sang-heun is accused of offending students by screening a French film that showed a topless woman on the streets, along with images of sexual violence.The police launched the investigation

Social AffairsSept. 25, 2019

Welcome Week for tourists to start Friday

Special deals, discounts and free souvenirs will be offered at hotels, shops and restaurants in Seoul from Friday to Oct. 6 as part of a 10-day event for foreign tourists. Under the theme of “Eat and Stay,” the Seoul Metropolitan Government will host Seoul Welcome Week 2019, targeting Chinese tourists traveling abroad during China’s Golden Week from Tuesday to Oct. 7.  Discounts -- up to 50 percent for musical tickets and up to 20 percent for shopping and food -- and

Social AffairsSept. 25, 2019

Yoon & Yang, MLex host forum on data protection regulations

Responding to stricter requirements for data protection, law firm Yoon & Yang co-hosted a related seminar with regulatory insight provider MLex this week. The event, titled “Data Protection Regulations in Korea and EU,” was held Tuesday at the headquarters of Yoon & Yang, the country’s sixth-largest law firm both in size and sales.MLex is a news organization affiliated with LexisNexis, specialized in regulatory risks. It has a global network of more than 80 regulatory r

IndustrySept. 25, 2019