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Amid negotiations, South Korea considers accepting Indonesia's proposal to reduce its KF-21 financial commitment to one-third. Jakarta's overdue payment prompts Seoul to revise the share to 600 billion won, while exploring alternative data-sharing options to maintain cooperation.
South Korean stocks surged over 2% fueled by hopes for U.S. rate cuts. KOSPI closed at 2,734.36, with tech giants like Samsung Electronics and SK Hynix leading gains. The local currency strengthened against the U.S. dollar.
Kakao Pay announces a turnaround, reporting a net profit of 167 million won in Q1, fueled by strong sales growth and subsidiary performance.
In a bid to revitalize tourism, Seoul collaborates with international travel agencies, hosting exploratory tours for officials from China, Malaysia, Singapore, Thailand, and the Philippines. Initiatives aim to tailor experiences for younger visitors and showcase Seoul's attractions.
South Korea faces a stark demographic crisis with a projected 10 million decline in its economically active population by 2044 due to critically low birth rates. Experts warn of severe economic and social consequences if the issue remains unaddressed.
South Korea's market regulator uncovers short-selling violations by seven additional foreign investment banks, following a ban imposed last November. Financial Supervisory Service revealed nine banks involved in illegal trading, with potential fines totaling 211.2 billion won.
South Korea's Finance Minister, Choi Sang-mok, has hinted at a potential upward revision of the country's 2024 economic growth forecast, currently set at 2.2%.
Japan, China, South Korea, and ASEAN express concerns over currency depreciation and exchange rate volatility. Finance ministers emphasize stability, amid discussions on regional cooperation and economic risks.
Jeju International Airport officials reported 40 flight cancellations, with 20 arrivals and departures affected due to adverse weather conditions.
Geoffrey Pyatt, U.S. assistant secretary of state for the Bureau of Energy Resources, suggested expanding energy cooperation between South Korea, the United States, and potentially Japan.
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