KOSPI plunges 8%, trading halted amid global market turmoil
The Bank of Japan’s decision to raise interest rates, a move aimed at curbing inflation, has sent shockwaves through global financial markets.
South Korea
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Opposition-controlled parliament passes $180 cash handout bill
The cash handout is intended to support households struggling with the rising cost of living and the economic fallout from recent global events.
Do Kwon’s extradition to Korea faces public opposition
Kwon, who has been living abroad since the downfall of TerraUSD, is accused of financial fraud and violating the country’s capital markets law. His company’s implosion wiped out billions of dollars from the cryptocurrency market, impacting investors worldwide, including many in South Korea.
Court grants TMON and WeMakePrice one month for self-debt restructuring
A spokesperson for the court emphasized the importance of this period, stating, "This extension is a critical opportunity for TMON and WeMakePrice to develop viable strategies for debt management and business recovery. The court expects both companies to use this time effectively to avoid further financial deterioration."
North Korea silent on South Korea’s flood relief offer: Unification Ministry
South Korea proposed sending essential supplies, including food, medicine, and emergency rescue equipment, to help alleviate the impact of the devastating floods that have hit several regions in North Korea.
Thailand’s top diplomat seeks South Korea’s support for seamless entry of Thai travellers
Thai Foreign Minister Don Pramudwinai emphasized the significant contributions of Thai tourists to South Korea's tourism sector and the mutual benefits of easing travel restrictions. Thai travellers have long enjoyed visiting South Korea, contributing to our nations' economic and cultural exchanges.
Yogiyo slashes delivery commission to 9.7%, leading the market
"Yogiyo's decision to lower its commission fee to 9.7 percent is likely to intensify competition among delivery platforms," said Lee Min-jung, a market analyst.
China pledges increased trade cooperation with key partners
China's MOC strategic focus aims to boost its trade volume with free trade agreement (FTA) partners to approximately 40% of its total foreign trade by 2030.
Supreme court orders house of sharing to return donations
The House of Sharing has been a symbol of support for "comfort women," a term used to describe the victims of Japan’s wartime sexual slavery, the ruling comes after a donor filed a lawsuit claiming that the shelter misappropriated funds that were meant to aid the survivors.
South Korea’s ambitious dam plan faces public scrutiny
Residents are concerned about the environmental impact, including potential loss of biodiversity and disruption of local ecosystems, the displacement of communities and loss of agricultural land are pressing concerns for those who rely on farming for their livelihood.
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