Korean banks log record interest income in first half

SEOUL, August 22 (AJU PRESS) - Korean banks posted a record-high interest income of 29.8 trillion won ($22.3 billion) in the first half of 2024, up 1.4 percent year-on-year, the Financial Supervisory Service (FSS) reported on Thursday. However, net profit for the period declined by 11 percent to 12.6 trillion won, primarily due to a decrease in non-interest income and operating losses from provisions for equity-linked securities (ELS). The FSS noted that banks' interest incom

August 22, 2024

Bank of Korea holds key rate amid property market concerns

SEOUL, August 22 (AJU PRESS) - Korea's central bank kept its benchmark interest rate unchanged at 3.5 percent on Thursday amid concerns over rising housing prices and household debt. The Bank of Korea's (BOK) Monetary Policy Board decided to freeze its seven-day repurchase rate for the 13th consecutive time since February 2023, marking the longest-ever streak of rate holds. The decision was widely expected. Despite BOK Governor Rhee Chang-yong's recent hints in July o

August 22, 2024

'Parasite' star Lee Sun-kyun's posthumous film conjures Korea's political upheaval

SEOUL, August 22 (AJU PRESS) -Director Choo Chang-min's latest film takes a fresh approach to the watershed moments of political upheaval in Korea's modern history. "Land of Happiness," released last week, is set against the backdrop of the assassination of former strongman Park Chung-hee in the late 1970s. The courtroom drama intertwines fiction and history to explore how hegemonic power can distort truth. By examining the assassination through a legal lens, th

August 22, 2024

BTS member's DUI arrest sparks push for harsher electric scooter penalties

SEOUL, August 22 (AJU PRESS) - Lawmakers have proposed stricter penalties for drunk-driving and unlicensed operation of electric scooters and kickboards following a recent incident involving BTS member Suga. Suga, who is currently serving his mandatory military service, was arrested earlier this month after falling off his electric scooter while intoxicated in Seoul's Yongsan district. The incident sparked public concern over the safety of these personal mobility devices (PMs

August 22, 2024

OPINION: Why North Korea may find South's new vision for reunification provocative

SEOUL, August 22 (AJU PRESS) - Every year, on Aug. 15, there is a public holiday in South Korea to commemorate the day the Korean Peninsula was liberated from Japanese colonial rule. On this day, there is a longstanding tradition whereby South Korean presidents outline their vision for Korean reunification – Korea has been divided between the North and South since 1945. But the country's current president, Yoon Suk Yeol, proposed a new approach this year. Rather than empha

August 22, 2024

PHOTOS: Riot Games' Valorant Champions finals coming to Korea

SEOUL, August 21 (AJU PRESS) - Riot Games, a U.S. esports powerhouse, held a press conference in Seoul on Wednesday, two days before the Valorant Champions 2024 finals. "Our Champions Seoul has been one of our most successful events ever," said John Needham, president of publishing and esports. The final matches are scheduled to take place from Friday to Sunday at Inspire Arena in Incheon, west of Seoul. Following an hour-long Q&A session, Julie and Natty from the multination

August 21, 2024

OPINION:  Korea Exercises Highlight Japan, South Korea and U.S.

KENOSHA, August 21 (AJU PRESS) - South Korea and the United States on August 19 began regular annual military exercises, including operations geared toward North Korea, but this year there is a difference. Japan is a more visible defense partner in the Pacific and beyond This follows directly from a Camp David summit last year hosted by President Biden that included the prime ministers of both Japan and South Korea. The resulting agreement greatly changes the dynamics of the balance

August 21, 2024

PHOTOS: Finance Job Fair draws crowds in Seoul

SEOUL, August 21 (AJU PRESS) - The Finance Job Fair 2024 opened on Wednesday for a two-day run at the Dongdaemun Design Plaza (DDP) in Seoul. It is the largest recruitment event in the financial sector in the nation. The eighth annual event features 77 companies, 13 more than last year's edition.

August 21, 2024

Türkiye's Presidential Symphony Orchestra to collaborate with Korean pianist for concert in Chuncheon

SEOUL, August 21 (AJU PRESS) - Türkiye's Presidential Symphony Orchestra will collaborate with pianist Kim Hong-gi, who is widely recognized in Europe for his musical talent, for an annual concert held in the eastern province of Gangwon this fall, the Turkish Embassy to Korea said on Wednesday. The Turkish Presidential Symphony Orchestra, established in 1826, is one of the world's oldest symphony orchestras, renowned for its rich history and role in promoting both Tur

August 21, 2024

American R&B star Ne-Yo to hold concert in Seoul this fall

SEOUL, August 21 (AJU PRESS) - American singer-songwriter and singer Ne-Yo will visit Korea for the first time in nine years for a gig in Seoul this fall, concert organizers said on Tuesday. The concert, scheduled for Oct. 16, is part of his tour promoting his eighth album "Self Explanatory," which was released in 2022. The R&B star has already met fans in Australia, New Zealand, Europe, North America, and South America. Initially gaining recognition for songs he co

August 21, 2024