Archive page 116

South Korea - Bank of Korea Governor Rhee Chang-yong has stated that it is too early to begin discussing rate cuts, despite the central bank being among the first to pause its tightening cycle. This has led to market speculation about potential rate cuts, but Rhee believes these expectations are "premature." During the Asian Development Bank's annual meeting in Incheon, Rhee commented on South Korea's economic landscape, highlighting that the country's core inflation remains well above the targ

Busan, South Korea - The city of Busan has announced plans to establish "Busan Content Biztown" (Content Business Support Center) to foster a content ecosystem and create jobs for young people. In March, the city and Busan IT Industry Promotion Agency secured KRW 4.2 billion in government funding after being selected for the Ministry of Culture, Sports and Tourism's regional content support center project. Under this initiative, Busan plans to lease and remodel a building in Yangjeong-dong, Bu

Busan, South Korea - Local citizen groups have voiced concerns that Busan's newly unveiled city emblem, which has an $11 million promotional budget, may have plagiarized the logo of a foreign cryptocurrency company. On May 2, various local citizen groups held a press conference to express their disapproval of the new city emblem and criticize the city council. They alleged that the new emblem plagiarized a foreign cryptocurrency company's logo and called for its immediate removal. In March, Bu

Busan, South Korea – In a bid to secure the 2030 World Expo and engage the public in climate change awareness, the city of Busan is launching an "Expo Aquarium" at the Lotte World Aquarium in Seoul. The exhibit will run from May 1st through November and is part of a nationwide campaign with the theme "Stop Climate Change with EXPO." The campaign began in April with a "Green Challenge" event held at Gwanghwamun Square and Busan Station, emphasizing the importance of carbon emission reduction and

Chinese President Xi Jinping has played a significant role in the restoration of diplomatic relations between Saudi Arabia and Iran, as per a senior Chinese diplomat. Wang Di, director of the foreign ministry's Department of West Asian and North African Affairs, revealed in an interview with People's Daily that China is prepared to take on a greater role as a mediator in the Middle East. Wang accused certain large countries outside the region of causing long-term instability in the Middle East

The US-South Korea summit has resulted in mixed assessments from Korean newspapers, with conservative and progressive press taking opposing stances. The joint announcement of the 'Washington Declaration' and the agreement on expanding deterrence measures against North Korea led conservative newspapers to view the summit as a positive step in reinforcing the "ironclad alliance." However, progressive newspapers criticized the lack of tangible outcomes and expressed concerns over heightening tensio

The Busan Dongseo Elevated Highway, a 14-kilometer-long, four-lane roadway, has been a source of longstanding issues for the city and its residents. Despite its initial purpose of easing traffic between the eastern and western parts of Busan, the elevated highway has instead contributed to traffic congestion, noise pollution, and air pollution. Moreover, its presence has negatively impacted the urban landscape and compromised the privacy of nearby apartment dwellers. As a result, the future of t

The South Korean semiconductor industry is increasingly concerned about the potential fallout from the escalating US-China semiconductor dispute. As the industry grapples with production cuts and falling prices, it now finds itself stuck in the middle of a geopolitical tug-of-war. According to recent reports, the US government has requested that South Korea refrain from exporting semiconductor replacement products to China ahead of the US-South Korea summit. In response, Chinese state-run media