BOK chief says won will level off if Middle East conflict eases

Bank of Korea Governor Rhee Chang-yong, during his visit to the United States, projected the volatility of the won-dollar exchange rate would ease if the Middle East tension did not escalate further. The won-dollar exchange rate has been fluctuating heavily over the past few weeks, influenced by the strong demand for the greenback, with the anticipation that the US Federal Reserve will continue its aggressive monetary tightening due to the hotter-than-expected inflation readings. The strong safe

EconomyApril 21, 2024

Yoon offers first one-on-one meeting with opposition leader next week

President Yoon Suk Yeol has invited main opposition leader Lee Jae-myung to their first one-on-one meeting through a brief phone call, the presidential office said Friday. In a surprise 5-minute phone call between the two, Yoon asked Lee to meet him next week at Yongsan, where the presidential office is located, an official at the presidential office told reporters. In his first phone call to Lee, Yoon added that he hoped to frequently meet from now on to discuss national affairs “over tea

PoliticsApril 19, 2024

Iran fires air defense batteries in provinces as sound of explosions heard near Isfahan

Iran fired air defense batteries early Friday morning after reports of explosions near the city of Isfahan, the state-run IRNA news agency reported. It remained unclear if the country was under attack. However, tensions remain high in the wider Middle East after Iran’s unprecedented missile-and-drone attack on Israel. One government official suggested sites may have been targeted by drones. The Israeli military did not immediately respond to a request for comment. IRNA said the defenses fi

World NewsApril 19, 2024

Climate impacts set to cut 2050 global GDP by nearly a fifth

PARIS -- Climate change caused by carbon dioxide emissions already in the atmosphere will shrink global gross domestic product in 2050 by about $38 trillion, or almost a fifth, no matter how aggressively humanity cuts carbon pollution, researchers said Wednesday. But slashing greenhouse gas emissions as quickly as possible remains crucial to avoid even more devastating economic impacts after midcentury, they reported in the journal Nature. Economic fallout from climate change, the study shows, c

World NewsApril 18, 2024

Fed: Elevated inflation will likely delay rate cuts this year

Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates. “Recent data have clearly not given us greater confidence" that inflation is coming fully under control and "instead indicate that it’s likely to take longer than expected to achieve that confidence,” Powell said during a panel discussion at the Wilson Cen

World BusinessApril 17, 2024

Sewol victims commemorated on tragedy's 10th anniversary

A series of memorial events were held across the country Tuesday, the 10th anniversary of the Sewol ferry tragedy, in remembrance of the 304 lives lost in Korea's worst maritime disaster. At a ceremony held at the Hwarang Public Garden in Ansan, Gyeonggi Province, Gyeonggi Province Gov. Kim Dong-yeon vowed to remember the 304 victims forever. Kim also lamented that no senior officials were held accountable for the failed disaster response. "Another tragedy followed this tragedy. It is

Social AffairsApril 16, 2024

A decade lost: Sewol survivors on life after tragedy

ANSAN, Gyeonggi Province -- On April 16, 2014, 325 students and 14 teachers from Danwon High School in Ansan, Gyeonggi Province were aboard the Sewol ferry heading to Jeju Island for a field trip. Cho Mun-jeong was one of the students on the trip and was hoping to enjoy a brief reprieve from preparing for college entrance exams. After a loud "bang" echoed through the ferry, an announcement was made over the intercom, urging passengers not to move and to wait patiently for rescue. But C

Social AffairsApril 15, 2024

World reactions to Iran strikes on Israel

Countries around the world condemned Iran's strikes on Israel late Saturday, warning the attack threatened to further destabilise the Middle East. Here are some of the main reactions so far: US - US President Joe Biden promised "ironclad" support for Israel after holding an urgent meeting with top security officials. "I just met with my national security team for an update on Iran's attacks against Israel. Our commitment to Israel's security against threats from Iran and its

World NewsApril 14, 2024

Korea to cut no. of teachers amid diminishing student numbers

Amid administrative efforts to increase the annual enrollment quota for medical schools that sparked the mass walk-out of doctors across the country, the government said it would reduce the number of school teachers going forward, citing a decline in student numbers. The enrollment quota for teachers' colleges, which has remained unchanged for 13 years, will be reduced by 12 percent, the Education Ministry said. Currently, 13 universities that train aspiring elementary school teachers take

Social AffairsApril 12, 2024

Despite landslide win, opposition party chief not yet home-free

  Wednesday’s general election concluded in a resounding victory for the main opposition Democratic Party of Korea, which took 175 seats of the National Assembly's 300 seats while the ruling People Power Party scraped up 108. While Democratic Party leader Lee Jae-myung celebrates what he called "a great victory of the people," the prospect of him becoming a front-runner for the next presidency is murkier than what the landslide victory may suggest. With Lee winning his own c

PoliticsApril 11, 2024

Yoon likely to face post-election political attacks

President Yoon Suk Yeol's fate was hanging in the balance as Koreans went to the polls Wednesday, The exit poll and the early ballot counting of the legislative general election suggested a gloomy outlook for the ruling bloc, which could send the conservative president into an early lame-duck phase, with three years remaining in his term. The exit poll suggested that opposition parties could secure two-thirds or more of the seats in the 300-member National Assembly, which would grant them enough

PoliticsApril 10, 2024

Ex-presidents break silence in rare election move

Former South Korean presidents have traditionally maintained a reserved stance regarding elections held after their tenure, but some have been making rather different moves in this general election. Showing active support for his party, the Democratic Party of Korea, Moon Jae-in, the predecessor of incumbent President Yoon Suk Yeol, has been the most vigorous among the past three presidents, directly joining rallies of individual candidates from the main opposition Democratic Party of Korea. Dre

PoliticsApril 9, 2024

Political satire strikes back ahead of election

Watching "Saturday Night Live Korea" on his laptop with a bowl of popcorn is how 33-year-old office worker Im Tae-ho unwinds after work. "I love that political satire sketches on 'SNL Korea' have returned stronger than ever this season," Im told The Korea Herald. "I feel like 'SNL Korea' is the only comedy show that dares to poke fun at politicians so brazenly in Korea. It's the only show that does political satire the right way," he added.

PoliticsApril 8, 2024

No shirt, no shoes or dressed for mourning: Candidates' campaign gimmicks

As South Koreans go to the polls to elect the 300 members of the National Assembly on Wednesday, political candidates have fully ramped up efforts to court voters. Walking down practically any main street at the moment, one will easily spot rallies of candidates and supporters singing theme songs with politically tweaked lyrics and flamboyant dance routines. Others have taken more unconventional turns in the outreach. One candidate was seen barefoot greeting visitors at the red clay road in Gumi

PoliticsApril 7, 2024

Hopes for breakthrough fade as talks yield no change in stance

Hopes for a breakthrough in the protracted medical standoff are fading after the meeting between President Yoon Suk Yeol and Park Dan, the head of the Korean Intern Resident Association, ended without agreement Thursday, with the two sides still far apart. Amid the impasse, Prime Minister Han Duck-soo said during Friday’s government response meeting that the government would continue to “communicate flexibility” with junior doctors but “based on principles.” “

Social AffairsApril 5, 2024

9 dead, over 1,000 injured in Taiwan’s quake

HUALIEN, Taiwan -- A helicopter plucked six miners to safety from a Taiwan quarry Thursday as rescuers worked to free scores of people trapped in highway tunnels after the island's biggest earthquake in a quarter of a century. Nine people were killed and more than 1,000 injured in Wednesday's magnitude-7.4 quake, but strict building regulations and widespread public disaster awareness appear to have staved off a major catastrophe on the island. Dozens of residents of the worst-hit city

World NewsApril 4, 2024

Who will get it right?

South Korean broadcasters will be leveraging advanced artificial intelligence technology, upgraded election outcome prediction systems and personalized services in their coverage of the general election on April 10. SBS will introduce an AI character as a commentator for its general election broadcasts, a first in Korean broadcasting history. Named "Toopyoro" and taking the form of a teddy bear, the AI character will provide real-time commentary on the general election using generative

TelevisionApril 3, 2024

North Korea fires ballistic missile into sea

North Korea fired an intermediate-range missile into the East Sea on Tuesday morning. According to South Korea’s Joint Chiefs of Staff, an intermediate-range ballistic missile was launched from the Pyongyang area at around 6:53 a.m. The missile flew for about 600 kilometers before landing in the water. The missile was detected from the moment of its launch, and the related information was shared with the US and Japan, the JCS said. The JCS condemned North Korea’s missile firing as a

DefenseApril 2, 2024

[Election Battlefield] ‘Mini presidential election’ unfolds in Incheon

INCHEON -- In a district in Incheon, two potential presidential candidates are in a neck-and-neck race to secure a National Assembly seat on April 10. The ruling People Power Party candidate is Won Hee-ryong, previously the minister of land and transport under President Yoon Suk Yeol. The 60-year-old was a candidate in the party’s presidential primary in 2021, and boasts a winning track record against Democratic Party of Korea rivals so far in all of the five elections he has run in. He is

PoliticsApril 1, 2024

How Lockheed Martin, CNN and Yale became fashion brands in Korea

On Seoul’s streets today, seeing someone clad in a CNN hoodie, Kodak pants, Yale socks, a Discovery jacket, a National Geographic backpack and a BBC Earth baseball cap may not seem out of the ordinary. The presence of logos from global non-fashion brands, spanning academia, media and sports, in Korean everyday wear seems to be only growing, now including unexpected entrants like arms manufacturer Lockheed Martin. As for Yale, the US university now ranks third among the top 100 fashion br

Hashtag KoreaMarch 31, 2024