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  • Seoul city bus strike looms in two days
    Seoul city bus strike looms in two days 2026-09-14 14:57:39
  • Seoul city bus strike looms in two days
    Seoul city bus strike looms in two days Buses operate at a bus stop in Seoul, September 14, 2026. 2026-09-14 14:56:28
  • Moreno Announces First Roster for South Korea National Team
    Moreno Announces First Roster for South Korea National Team Robert Moreno, the new interim head coach of the South Korea national soccer team, unveiled a 30-man roster for the upcoming four international matches scheduled for September and October. While key overseas players retained their positions, several K League players made their debut with the national team.Moreno held a press conference on September 14 at Korea Football Park in Cheonan, South Chungcheong Province, where he announced his first squad following his appointment on September 1. This decision came after two weeks of assessing players.The roster includes all core overseas players, led by captain Son Heung-min (LAFC), along with Lee Kang-in (Atletico Madrid), Kim Min-jae (Bayern Munich), and Hwang Hee-chan (Schalke 04). The attacking lineup also features European-based players such as Oh Hyun-kyu (Beşiktaş), Cho Gue-sung (Midtjylland), and Song Min-kyu (Nacional).Notably, 12 of the 30 players are from the K League. Jeong Seung-won, who has scored eight goals and provided six assists this season, returns to the national team after more than a year. Alongside Jeong, FC Seoul's goalkeeper Ko Seung-yun and defender Choi Jun also made the list.Three players celebrated their first call-up to the senior national team: midfielder Kim Min-soo (Rangers), born in 2006, midfielder Park Tae-jun (Gimcheon Sangmu), and defender Kim Geon-hee (Incheon United).However, Lee Seung-woo (Jeonbuk Hyundai), who had been mentioned as a potential returnee, was not included in this roster.Yang Hyun-jun (Celtic), Bae Jun-ho (Stoke City), Eom Ji-sung (Swansea City), and Lee Gi-hyuk (Gangwon FC) were excluded due to their participation in the 2026 Asian Games in Aichi and Nagoya. Jens Castrop (Borussia Mönchengladbach) is absent due to injury.Moreno will lead the team for a total of six international matches, including these four games and two more in November. His contract includes a provision for extension based on the performance and evaluation of these matches leading up to the AFC Asian Cup in January 2027 in Saudi Arabia.Moreno's squad will face Ecuador on September 24 at Suwon World Cup Stadium, followed by a match against Uruguay on September 28 at Seoul World Cup Stadium. The team will then play Venezuela on October 2 at Ulsan Munsu Football Stadium and Uzbekistan on October 6 at Yongin Mir Stadium. Two additional matches are also scheduled for November.* This article has been translated by AI. 2026-09-14 14:56:10
  • Major Banks Raise Fixed Deposit Rates, KB Kookmin Increases by Up to 0.6%
    Major Banks Raise Fixed Deposit Rates, KB Kookmin Increases by Up to 0.6% Five major banks in South Korea, including KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup, have raised their fixed deposit rates this month. Following the Bank of Korea's increase in the benchmark interest rate, market interest rates have also risen, prompting banks to adjust their deposit rates upward.According to the financial sector on September 14, KB Kookmin Bank has increased the interest rates on its flagship deposit product, the 'KB Star Fixed Deposit,' by 0.15 to 0.6 percentage points, effective today. Specifically, the interest rate for deposits with a maturity of one year to less than two years has risen from 3.2% to 3.4%, an increase of 0.2 percentage points.For deposits with a maturity of six months to less than one year, the rate has been raised from 3% to 3.15%, a 0.15 percentage point increase. The rate for deposits with a maturity of two to less than four years has increased from 2.4% to 3%, a rise of 0.6 percentage points, while the three-year maturity rate has gone up from 2.4% to 2.6%, an increase of 0.2 percentage points. A bank official stated, "We decided to raise deposit rates in response to the recent upward trend in market interest rates following the Bank of Korea's benchmark rate hike."With this adjustment, all five major banks have raised their fixed deposit rates this month. Earlier, Shinhan Bank increased the one-year maturity rate of its flagship product, 'Soleunhan Fixed Deposit,' from 3.2% to 3.4%, a 0.2 percentage point increase on September 9.Hana Bank also raised the one-year maturity rate of its main fixed deposit product, 'Hana Fixed Deposit,' from 3.2% to 3.3%, an increase of 0.1 percentage points. Woori Bank similarly raised the rate of its flagship product, 'WON Plus Deposit,' from 3.2% to 3.4%, a 0.2 percentage point increase.NH Nonghyup Bank increased the rates of its 'NH All-in-One e-Deposit' starting September 11, with increases ranging from 0.2 to 0.3 percentage points depending on the subscription period. The rates for deposits with a maturity of six months to less than 12 months and 12 months to less than 24 months have each been raised by 0.2 percentage points, while the rate for deposits with a maturity of 24 months to less than 36 months has been increased by 0.3 percentage points.* This article has been translated by AI. 2026-09-14 14:56:10
  • Gwangju to Invest $2.48 Billion in Disaster Risk Areas
    Gwangju to Invest $2.48 Billion in Disaster Risk Areas The Gwangju Metropolitan City will invest 2.748 trillion won ($2.48 billion) next year to protect citizens' lives and property from natural disasters such as heavy rain and flooding in 156 disaster risk areas. According to Gwangju officials, the disaster risk area management project for 2027 will target a total of 156 areas, including 33 new sites and 123 ongoing projects. The total project cost is estimated at 26 trillion won ($26 billion). The new project areas include regions affected by heavy rainfall, such as Naju Unamcheon, Buk-gu Sinan, Seo-gu Yuchon, and Hwasun Iyang. An initial 304 billion won ($304 million) will be allocated to the 33 new areas next year, with a total project cost of 388.9 billion won ($388.9 million). The city plans to systematically address disaster risk factors in each region to reduce recurring damage from heavy rainfall. The disaster risk area management project is a preventive disaster response initiative aimed at eliminating risk factors in vulnerable facilities and areas to protect residents' lives and property. As extreme weather events, such as intense rainfall in specific areas, become more frequent due to climate change, the importance of proactive measures to identify and manage risk areas has grown compared to post-disaster recovery efforts. In line with this, the city has been identifying new project sites in accordance with government policies, such as comprehensive disaster risk management projects that improve local disaster risk factors through collaboration among various departments. During the project selection process, pre-consultations with private experts were conducted, and the urgency of the projects and the need for national funding were continuously communicated to central government agencies. As a result, the 33 areas were included in the new project list for 2027, securing a foundation for disaster prevention projects utilizing national funds. The city expects to carry out large-scale disaster prevention facility management more stably while reducing the financial burden on local finances. Following the project selection, the speed of actual construction will also be crucial. To minimize delays caused by initial administrative procedures, the city plans to expedite subsequent processes such as detailed design, preliminary design review, and compensation. A disaster prevention project monitoring team will be established to regularly check the progress of projects and budget execution in each area. Mayor Min Hyung-bae stated, "Proactively managing disaster risk areas is the most effective way to reduce disaster damage," adding, "We will carefully examine and manage risk factors in areas that have experienced actual damage to create a safe Gwangju Metropolitan City that protects citizens' lives and property." Meanwhile, timely completion of subsequent procedures such as design, compensation, and construction is as important as selecting project sites and securing budgets for the disaster risk area management project. The city plans to manage the execution status of each project phase to reduce delays in large-scale disaster prevention projects and continue addressing risk factors in areas prone to heavy rainfall.* This article has been translated by AI. 2026-09-14 14:52:20
  • Jung Dong-young: Creating Conditions for a North Korea-U.S. Summit
    Jung Dong-young: Creating Conditions for a North Korea-U.S. Summit Jung Dong-young, the Minister of Unification, emphasized on the 14th that "the first key to breaking the current deadlock on the Korean Peninsula must be a North Korea-U.S. summit," highlighting the government's proactive role in facilitating dialogue between the two nations.In his welcoming remarks at the '2026 Korean Peninsula Peace Coexistence Policy Festa' held at the National Assembly, Jung stated, "I believe North Korea also has a strategic need for dialogue with the U.S.," and stressed the importance of actively creating and promoting an environment conducive to North Korea-U.S. talks.His comments come in the wake of North Korea's recent short-range ballistic missile launch on the 12th, underscoring the necessity of a shift in the situation through dialogue.Jung assessed that President Donald Trump's willingness to engage in dialogue with North Korea stems from long-standing interest and planning. He noted that some interpreted Trump's directive to reduce U.S.-South Korea military exercises last month as a minor gesture, but pointed out that Trump has expressed his intention to meet directly with North Korean leader Kim Jong-un to resolve issues on the Korean Peninsula since his candidacy.He also referenced analyses by American political scientists, explaining that Trump prioritizes North Korea dialogue and the dismantling of Cold War tensions on the Korean Peninsula as part of his legacy.Regarding the current state of inter-Korean relations, Jung described it as being in a "state of complete blockage for over seven years," but expressed optimism, stating, "Nothing in this world remains unchanged. I believe this situation will inevitably change."He added, "Following this shift in circumstances, a new era of inter-Korean peace exchange and cooperation will surely arrive," urging preparations for the resumption of exchanges in collaboration with local governments.Jung also proposed improvements to the system related to inter-Korean exchanges. He announced plans to reform the 'North Korean Resident Contact Reporting Guidelines' established under the Lee Jae-myung administration, transitioning to a self-completing reporting system through legal amendments.He pointed out that the existing reporting system has effectively operated as an approval and permit system, stating, "Our citizens, as sovereign individuals, should be able to report on their own decisions, and that should be sufficient to complete the process." He explained that the requirement to submit a report within a week of contact often leads to situations where actual contact does not occur, rendering the system ineffective.Jung also called for local governments to participate in cooperation with North Korea. He noted that local governments are also key players in inter-Korean exchange and cooperation, citing the example of Jeju Island's support for pine tree pest control.He mentioned that North Korea is pursuing a 'Local Development 20x10 Policy' to modernize local factories and hospitals, expressing hope that the Inter-Korean Exchange and Cooperation Local Government Council could assist in North Korea's local development plans.Meanwhile, the event also featured a 'Korean Peninsula Peace Coexistence Mutual Agreement Ceremony' attended by over 200 participants, including members of the National Assembly, the Ministry of Unification, local governments, and civil society organizations. The participating organizations adopted a joint declaration on 'cooperation and mutual growth for peace coexistence on the Korean Peninsula.' The declaration emphasizes the consistent promotion of peace coexistence policies, cooperation in restoring civilian exchanges and peace consensus, and exploring collaborative measures in education and border areas.* This article has been translated by AI. 2026-09-14 14:52:10
  • Hwacheon Sees Population Growth After Basic Income Selection
    Hwacheon Sees Population Growth After Basic Income Selection Since being selected as a pilot site for the rural basic income program, 878 people have moved to Hwacheon as of August 18. The total population of the county increased by 649 from June 11 to September 11, reflecting both migration and other population changes.According to Hwacheon County on September 14, 878 individuals registered their move between June 11 and August 18. Based on the trend of incoming residents, the county estimates that the number of new arrivals has reached around 1,000 as of September 8. The 878 figure is confirmed, while the 1,000 estimate is provisional.During the same period, the county's total population grew from 22,312 on June 11 to 22,961 on September 11. The difference between the number of new residents and the population increase is due to out-migration and other demographic changes.Among the new residents, the largest group came from Chuncheon, with 208 individuals. Other notable sources included Seoul with 107, Incheon with 39, and Goyang, Daegu, and Wonju each contributing 22, along with 21 from Yangju.Hwacheon is one of seven counties selected for the rural basic income pilot program by the Ministry of Agriculture, Food and Rural Affairs on June 11. Eligible residents will receive 150,000 won per month in the form of local love gift certificates after confirming their residency. According to the county, those who moved after June 11 will receive retroactive payments after a three-month residency verification.Spending data for the local currency has also been collected. From the first payment date of August 28 to September 10, approximately 27.7 billion won was spent in Hwacheon. This spending included transactions at restaurants, academies, convenience stores, and gas stations. However, this amount alone cannot be used to determine the overall increase in local consumption or small business revenue.Kim Se-hoon, the mayor of Hwacheon, stated, “We will promote necessary support, such as the supply of medium and large rental housing, to help newly arrived residents settle in and live stably.”* This article has been translated by AI. 2026-09-14 14:52:10
  • Dongin and Barun Sign MOU for Merger, Aiming for 553-Lawyer Firm
    Dongin and Barun Sign MOU for Merger, Aiming for 553-Lawyer Firm Law firms Dongin and Barun have signed a memorandum of understanding (MOU) to begin official negotiations for a merger. If successful, the merger will create a large law firm with 553 lawyers and an annual revenue of 187.7 billion won.The two firms announced the signing of the MOU on September 14 at the Textile Center Building in Daechi-dong, Gangnam, Seoul. Attendees included Won Chang-yeon, managing partner of Dongin, and Lee Dong-hoon, managing partner of Barun. The provisional name for the merged entity will be 'Barun Dongin'.Last year's revenue, calculated on the same basis, was 80.1 billion won for Dongin and 107.6 billion won for Barun. Dongin employs 250 lawyers, including 245 in South Korea and 5 overseas, while Barun has 303 lawyers, with 287 in South Korea and 16 abroad.Upon completion of the merger, the combined firm will have 532 South Korean lawyers and 21 overseas lawyers, totaling 553. However, the MOU only establishes the basic principles and direction for negotiations, and the merger is not yet finalized.Both firms have agreed to pursue an equal merger rather than one absorbing the other. They plan to combine their strengths in civil and criminal litigation, corporate disputes, and corporate, financial, and fair trade advisory services.Internal systems regarding personnel, evaluation, and compensation will be compared, and new standards will be established for the merged firm. Provisions for transitional measures or grace periods will be considered for any changes that may disadvantage some members.Each firm will appoint up to five lawyers to a merger committee. This committee will discuss the governance structure, decision-making processes, personnel and compensation, organizational operations, branding, and office space for the merged entity.The goal is to finalize the main contract within 12 months from the effective date of the MOU. During the negotiation period, both parties have agreed to a non-disclosure obligation, preventing discussions of similar mergers with third parties without prior written consent.A key variable in the merger will be potential conflicts of interest involving clients and cases. Both firms will assess existing clients, opposing parties, and affiliated companies for any conflicts. If conflicts are identified, they will consider obtaining client consent or transferring or concluding the cases.The specific launch date, name, and operational structure of the merged firm will be confirmed after mutual due diligence, conflict assessments, internal approvals, and main contract negotiations. 2026-09-14 14:52:00
  • Nepal Flood Damage Estimated at $2.4 Billion, Reconstruction Costs Over $6.3 Billion
    Nepal Flood Damage Estimated at $2.4 Billion, Reconstruction Costs Over $6.3 Billion Recent reports indicate that the total material damage from last month's massive flooding in Nepal has reached 27.44 billion Nepalese rupees (approximately $2.4 billion), with reconstruction costs expected to exceed 72.33 billion Nepalese rupees (about $6.3 billion).According to the Nepalese government, as reported by Yonhap News and the online media Khabar, the estimated total damage from the flood that occurred on August 26 is significant. This marks the first time the government has released specific figures regarding the recovery costs, although a government official previously estimated that the recovery expenses could range from $4 billion to $5 billion (approximately 55 billion to 69 billion Nepalese rupees).Infrastructure damage has been assessed at 17.23 billion Nepalese rupees (around $1.5 billion), accounting for over 60% of the total damage. The energy sector, which includes hydropower plants and transmission lines, suffered the most significant losses, totaling 13.47 billion Nepalese rupees (about $1.1 billion), representing roughly 80% of the overall damage.Damage to housing, schools, and cultural facilities is estimated at 6.78 billion Nepalese rupees (approximately $600 million), while road damage is assessed at 2.2 billion Nepalese rupees (around $200 million) and bridge damage at 1.135 billion Nepalese rupees (about $10 million).The Nepal National Disaster Risk Reduction and Management Authority reported that 7,570 private buildings were either completely or partially destroyed, affecting 32,933 individuals directly.Currently, there are 37 temporary shelters established along the Trishuli River in Bagmati Province, housing 3,628 displaced individuals. Additionally, damages to agricultural water supply facilities are estimated at 1.64 billion Nepalese rupees (approximately $14 million), while damages to drinking water and communication systems are assessed at 1.38 billion Nepalese rupees (around $12 million) and 620 million Nepalese rupees (about $5.4 million), respectively.A government official stated, "We estimate that 9 billion Nepalese rupees (approximately $790 million) will be needed for emergency recovery costs in the first six months of the overall reconstruction expenses."The flooding occurred in the Himalayan mountainous region along the Nepal-China border on August 26, impacting the construction site of the Upper Trishuli-1 hydropower plant in the Rasuwagadhi area of Bagmati Province. As a result, nine South Korean workers, including six from Doosan Enerbility and three from Korea South-East Power, went missing.* This article has been translated by AI. 2026-09-14 14:48:00
  • Han Dong-hoon Pledges Cooperation with Busan Mayor Jeon Jae-soo for Regional Development
    Han Dong-hoon Pledges Cooperation with Busan Mayor Jeon Jae-soo for Regional Development Independent lawmaker Han Dong-hoon expressed his commitment to actively collaborate with Jeon Jae-soo, the mayor of Busan from the Democratic Party, to address issues in Busan Buk-gu and the western Busan area.He indicated a pragmatic approach, suggesting that local projects should be credited to the city while he focuses on securing budget allocations at the National Assembly.On the morning of September 14, Han and Busan City officials held their first budget policy meeting in a small conference room at Busan City Hall. While the meeting included key city officials such as Deputy Mayor Oh Seok-geun and the Special Advisor for Political Affairs, Mayor Jeon did not attend, preventing a planned meeting between the two.The agenda included nine key regional issues, such as the second phase of the relocation of public institutions, timely opening of Gadeokdo New Airport, conversion of the Baptist Hospital into a public hospital, and establishing a safe drinking water supply system. Additionally, 17 projects requiring national funding for the next year were discussed, including the establishment of the National Quantum Innovation Center and the construction of a demonstration center for marine ports and harbors.Han highlighted two major tasks for Buk-gu: the elevation of the Gyeongbu Line railway and the relocation of the railway vehicle depot. He noted that the railway, which once spurred development in the Gupo area, now disrupts the urban landscape and hinders local growth.The traffic congestion issue at the Mandeok entrance and exit, exacerbated since the opening of the Mandeok-Centum urban expressway, was also a significant topic. In response, Busan City has secured 2.19 billion won for road structure improvements and traffic impact monitoring services."If budget allocations are based solely on population and business efficiency, the western Busan area will inevitably remain a low priority," Han stated. He warned that investment concentrated in the more economically viable eastern Busan could widen the gap between the east and west.After the meeting, Han visited the Busan City Council briefing room, stating, "Rather than inserting minor projects, I will ensure significant funding flows into Buk-gu. If Busan City takes the initiative, I will assist at the National Assembly."He remarked on Jeon, saying, "The citizens of Buk-gu made Jeon Jae-soo the mayor, didn’t they? I don’t mind being a supporting role while he takes the lead."Han demonstrated a strong willingness to transcend party affiliations and political differences in pursuit of their shared goal of developing Gupo, Deokcheon, and Mandeok.In response to criticism from the Democratic Party regarding his recent collaboration with Kim Hyo-jung, a Busan City Council member from the People Power Party, Han asserted, "If it’s for the benefit of Busan, I will join hands with Mayor Jeon Jae-soo. Don’t be petty and try to undermine this effort."The Q&A session transitioned to discussions about the upcoming confirmation hearing for Kim Seung-won, the nominee for Justice Minister, scheduled for September 15.Han raised allegations that Kim contacted the head of the Ministry of Food and Drug Safety in 2021 at the request of an acquaintance to expedite the clinical trial approval process for Genensel’s COVID-19 treatment. The candidate's treatment was administered to 93 patients during the trial.Han criticized the administration of a drug with missing records related to animal testing deaths, labeling it as a "poison lobbying" issue.However, the Ministry of Food and Drug Safety has stated that no serious adverse events were reported among the trial participants, and it has not been confirmed that the 93 patients were in actual danger. The potential for undue influence will likely be a central issue during the confirmation hearing.Han also commented on the recent resignation of Yong Hye-in, the nominee for Minister of Gender Equality and Family, calling it a "sacrifice" to save Kim’s candidacy. He warned that if Kim Seung-won’s appointment is pushed through, it could lead to the downfall of the Lee Jae-myung administration.Regarding the issue of returning to the People Power Party, Han avoided a direct answer, stating, "What is needed for conservatism is not just fighting but winning. I hope rational and sensible lawmakers will join the fight."* This article has been translated by AI. 2026-09-14 14:44:00