Archive page 119

Busan, South Korea - On April 17, the city of Busan announced that it had held a ceremony at the city hall's International Conference Room to renew the "Agreement on Friendship Exchange Items" with Japan's Nagasaki Prefecture. Since signing the Friendly and Cooperative City Agreement on March 25, 2014, Busan and Nagasaki have been reviewing and renewing their friendship exchange items annually in various fields such as culture, tourism, education, and economy to strengthen substantive cooperati

The City of Busan announced today that it will sign a Memorandum of Understanding (MOU) with MJY Partners Co., Ltd. and Busan Economic Promotion Agency for a 600 billion KRW investment to construct a comprehensive logistics center in Busan New Material General Industrial Complex. The signing ceremony will be held at 11 a.m. in the video conference room on the 7th floor of the City Hall, with Mayor Park Heong-joon and Jin Yang-hyun, the 5th President of the Promotion Agency, in attendance. Accor

South Korea is currently facing a multifaceted diplomatic challenge due to the recent request from Polish Prime Minister Mateusz Morawiecki for the provision of artillery shells to aid Ukraine. As a country with significant resources and capabilities, South Korea could potentially play a vital role in supporting Ukraine during this time of crisis. However, the geopolitical implications of such a move, including possible repercussions from Russia and China, cannot be ignored. In this article, we

South Korea's central bank, the Bank of Korea, has decided to maintain its benchmark interest rate at 3.50% during a recent monetary policy meeting. This marks the second consecutive freeze since February, as consumer price inflation has dropped to the low 4% range. The decision to hold the interest rate was made to monitor the economic situation and support growth. The market has reacted positively to the interest rate freeze, but concerns remain over the widening interest rate gap with the Un

South Korea's National Assembly rejected a revision to the Grain Management Act that would have required the government to purchase surplus rice. The bill faced strong opposition from President Yoon Suk Yeol, who exercised his right to veto the legislation, citing concerns over wasting government resources. The controversial bill aimed to address the country's surplus rice production in the face of decreasing consumption patterns. South Korea's grain self-sufficiency rate, including feed, stood

Daegu City and North Gyeongsang Province (Gyeongsangbuk-do) in South Korea have experienced significant population decline in recent years, with both regions facing the challenges of an aging society, lower birth rates, and economic struggles. Daegu City's registered population has decreased by approximately 22,000, while North Gyeongsang Province has seen a reduction of around 26,000. These declines are attributed to a combination of social factors, such as migration and natural factors like l

In the midst of escalating tensions in Taiwan and the ongoing US-China trade war, South Korea is seeking to diversify its export markets, while French President Emmanuel Macron emphasizes the importance of an independent foreign policy for the European Union (EU). South Korea has been experiencing a decline in exports to ASEAN countries, with its exports to the region decreasing for six consecutive months from October last year to March this year. Vietnam, which has emerged as the country's lar

Seoul, South Korea – A recent study by the company behind the real estate information platform 'Dabang,' has found that the rent for one-room apartments (with a floor area of 33 square meters or less) in Seoul's major university districts has risen by over 15% in the past year. The data from Dabang showed that, as of last month, the average monthly rent for one-room apartments in these university districts, based on a deposit of 10 million KRW (approximately $8,300), was 596,000 KRW (about $500