Author: Seoul Reporter

Korea’s plan to construct its first nuclear-powered submarine marks a step towards broader regional obligations for Seoul, notably in countering China, U.S. Chief of Naval Operations Adm. Daryl Caudle mentioned, Friday.The admiral described Washington’s dedication to assist the submarine acquisition as a historic milestone, whereas noting that such capabilities carry heightened strategic expectations for Seoul.”The distinction between a rustic with a nuclear-powered submarine and a standard energy is critical. As soon as obtained, [Korea] might be having a submarine that actually is worldwide deployable,” he mentioned throughout a press convention in Seoul.The occasion happened throughout Caudle’s first go to to…

Korea’s mortgage charges have rebounded to the 6 % vary for the primary time in two years amid an increase in market rates of interest, prompting banks to additional tighten new house loans beneath stricter lending laws, monetary sources mentioned Sunday.Fastened-rate mortgage loans on the nation’s 4 main lenders — KB Kookmin, Shinhan, Hana and Woori — primarily based on five-year financial institution bonds stood at 3.93-6.06 % as of Friday, in response to the sources.It marks the primary time since December 2023 that hybrid mortgage charges on the 4 lenders have reached the 6 % vary. Each the higher…

Functions for vouchers offered to pregnant ladies elevated 8.1 p.c from a 12 months earlier within the first 9 months of this 12 months, knowledge confirmed Sunday, in a potential signal of a continued rebound within the variety of newborns in a rustic dealing with one of many world’s lowest beginning charges.The variety of purposes for such vouchers totaled 257,761 within the January-September interval, in contrast with 238,507 in the identical interval final 12 months, in accordance with the info by the Nationwide Well being Insurance coverage Service.Whereas the determine doesn’t precisely align with the variety of childbirths, partly as…

Gross sales of mini automobiles by Korea’s 5 automakers are anticipated to stay under 100,000 items for a second consecutive yr in 2025, trade information confirmed Sunday, amid an absence of recent fashions and shifting client preferences.From January to October, the 5 carmakers — Hyundai Motor Co., Kia Corp., GM Korea Co., Renault Korea Motors and KG Mobility Corp. — offered a mixed 60,004 mini automobiles, down 27.3 p.c from 82,485 items a yr earlier, in accordance with their gross sales information.If the development continues, annual mini automotive gross sales are anticipated to return in at round 70,000 items this…

Korean particular person buyers’ web purchases of abroad shares reached a brand new excessive for a half-month interval in November, pushed by their aggressive funding patterns, officers stated Sunday.Native buyers purchased a web $3.63 billion price of international shares within the first 14 days of this month, greater than double the $1.77 billion recorded throughout the identical interval final month, in line with the Korea Securities Depository and the Korea Middle for Worldwide Finance.Whereas U.S. shares accounted for the majority of the purchases, retail buyers additionally acquired $180 million in European shares, $170 million in Hong Kong shares, and $150…

The SSG Landers introduced their signing of Japanese pitcher Shota Takeda on Sunday to fill their Asian quota for subsequent season.The Landers mentioned the 32-year-old right-hander agreed to a one-year contract value $200,000. Takeda had been with the Fukuoka SoftBank Hawks in Japan’s Nippon Skilled Baseball (NPB) since 2012.Beginning in 2026, golf equipment within the Korea Baseball Group (KBO) will every be allowed to signal an additional participant from an Asian nation or Australia — along with their regular three foreign-born gamers.The Asian quota participant should have competed in Asia or in Australia within the season instantly earlier than the…

President Lee Jae Myung on Sunday pledged to find out whether or not there have been security lapses at a thermal plant web site within the southeastern metropolis of Ulsan the place seven employees have been killed and sternly punish these discovered accountable.Lee made the comment after authorities on Friday recovered the final of the seven employees who have been trapped when a 63-meter tower on the plant collapsed on Nov. 6. The our bodies of the six others had been recovered.”Because the individual in the end in command of public security, I’m genuinely and deeply sorry,” Lee wrote on…

SK Hynix headquarters in Icheon, Gyeonggi Province. (Yonhap) Semiconductors haven’t succumbed to the winter everybody anticipated. Removed from frosty, the sector is as scorching as midsummer. Morgan Stanley, the funding financial institution whose pessimistic predictions about chipmakers have pushed volatility within the Korean inventory market, has quietly modified its outlook.Morgan Stanley had predicted a chill for semiconductors in stories final yr titled “Reminiscence – Winter At all times Laughs Final” and “Winter Looms.”However just lately, the financial institution printed a report titled “Reminiscence Supercycle – Rising AI Tide Lifting All Boats.” The financial institution retracted its forecast of a DRAM…

Police have apprehended over 3,000 suspects in reference to on-line intercourse crimes over the previous yr, with almost half of them of their teenagers, officers stated Sunday.The Nationwide Police Company (NPA) has detected 3,411 on-line sexual abuse instances between November 2024 and October this yr, successfully detaining 3,557 folks in whole. Of them, 221 have been formally arrested.By sort of crime, crimes involving deepfake know-how accounted for 35.2 % of the whole, adopted by sexual movies of youngsters or adolescents at 34.3 %, and illegally filmed supplies at 19.4 %.Almost half of all suspects, or 1,761, have been of their…

President Lee Jae Myung was set to satisfy with leaders of key conglomerates later Sunday to debate follow-up measures following the discharge of a joint reality sheet on bilateral commerce and safety agreements with america.The assembly comes two days after Seoul and Washington launched the joint doc outlining agreements reached of their latest summit talks, together with Seoul’s $350 billion funding plans within the U.S. in trade for decreasing U.S. tariffs from 25 p.c to fifteen p.c.The assembly, scheduled for two p.m., might be attended by Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Government…