South Korea reports over 9,500 new coronavirus infections, ten deaths

South Korea reported 9,595 new COVID-19 cases as of midnight Wednesday compared to 24 hours ago, raising the total number of infections to 18,359,341, the health authorities said Thursday. The daily caseload was down from 10,463 the previous day, but it was higher than 7,493 tallied a week earlier, … Read more

Fund in Korea Cuts Its Investment in Tesla, Shifting to Chinese Rivals Instead

(Bloomberg) — South Korea’s first mutual fund dedicated to investing in the electronic-vehicle industry has cut its exposure to Tesla Inc. to the lowest level ever while shifting money into its Chinese rivals. Most Read from Bloomberg The Korea Investment Management Co. fund, a Tesla holder since inception in 2017, has steadily trimmed its exposure … Read more

North Korea plans crackdown as Kim pushes for internal unity

Breadcrumb Trail Links PMN Business Author of the article: The Associated Press Hyung-jin Kim Article content SEOUL, South Korea (AP) — North Korean leader Kim Jong Un and his top deputies have pushed for a crackdown on officials who abuse their power and commit other “unsound and non-revolutionary acts,” state media reported Monday, as Kim … Read more

Fire Caused by Suspected Arson in S. Korea Kills at Least 7

SEOUL, South Korea (AP) _ A fire caused by suspected arson spread through an office building Thursday in South Korea’s Daegu city, killing at least seven people and injuring dozens, fire and police officials said. Dozens of firefighters and vehicles quickly put out the blaze, which began in the late morning on the second of … Read more

North Korea fires volley of missiles after U.S., South Korea stage drills By Reuters

2/2 © Reuters. FILE PHOTO: A North Korean flag flutters on top of a 160-metre tower in North Korea’s propaganda village of Gijungdong, in this picture taken from the Tae Sung freedom village near the Military Demarcation Line (MDL), inside the demilitarised zone separat 2/2 By Byungwook Kim and Josh Smith SEOUL (Reuters) -North Korea … Read more

Insurers see over 21% drop in net profits in South Korea

  South Korea’s Financial Supervisory Service said that local non-life insurers’ aggregate net profit jumped 25% year on year to 1.65 trillion South Korean won ($1.33 billion), Asia Insurance Review reported citing Yonhap News Agency. Non-life insurance companies posted robust earnings because the country’s COVID-19 curbs discouraged outside social gatherings and lowered the loss rate. … Read more

In wake of Terra collapse, South Korea plans new crypto oversight committee: Report By Cointelegraph

In wake of Terra collapse, South Korea plans new crypto oversight committee: Report The ecosystem’s rise and fall has had major consequences all around the world, but there’s no doubt that South Korea, the birthplace of its’ creator, was the most concerned country of them all. Amid signs that Terraform Labs co-founder Do Kwon was … Read more

South Korea, U.S. security advisers hold talks after N.Korea fires salvo of missiles By Reuters

© Reuters. FILE PHOTO: National Security Advisor Jake Sullivan answers questions while Press Secretary Karine Jean-Pierre looks on, during the daily media briefing at the White House in Washington, U.S., May 18, 2022. REUTERS/Evelyn Hockstein WASHINGTON (Reuters) – U.S. National Security Adviser Jake Sullivan spoke by phone with South Korea National Security Adviser Kim Sung-han … Read more

$40bn crypto collapse turns Korea against the ‘Lunatic’ leader

After Do Kwon indicated he would inject $300mn into the reserves that underpinned the 20 per cent yield on his luna cryptocurrency, a Twitter user asked him where the money would come from. Kwon’s response was succinct: “Your mom, obviously.” Now the brash 30-year-old Korean, who routinely derides his critics as “poor”, is being asked … Read more