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Yoon arrives in Washington to attend high-stakes NATO Summit

President Yoon Suk Yeol arrived in Washington on Wednesday to attend a North Atlantic Treaty Organization (NATO) summit with a strong message against North Korea’s military cooperation with Russia amid the prolonged war in Ukraine.

South Korea was i…

Early repayment charges to be lowered from mid-January next year

Early repayment charges on loans will be lowered from mid-January next year as financial regulators revised rules, officials said Wednesday.

Under the revised rules, lenders will only be allowed to collect the actual cost of making or handling the l…

S. Korea adds fewer than 100,000 jobs for 2nd month in June

South Korea added fewer than 100,000 jobs for the second consecutive month in June, data showed Wednesday.

The number of employed people came to 28.91 million last month, up 96,000 from a year earlier, according to the data compiled by Statistics Ko…

Seoul shares open lower as Powell withholds hints on rate cuts

Seoul shares opened lower Wednesday, as investors sat on the sidelines after Federal Reserve Chairman Jerome Powell fell short of offering more details on the path of the Fed’s rate policy.

The benchmark Korea Composite Stock Price Index (KOSPI) fel…

Investment funds gain 98 tln won in H1

The value of investment funds in South Korea rose sharply in the first six months of the year, data showed Wednesday.

The net asset value of investment funds here came to 1,069.5 trillion won (US$771.8 billion) as of end-June, up 98.1 trillion won f…

Delivery app Baemin to raise commission fee for restaurants

Delivery app Baedal Minjok, or Baemin, said Wednesday it will raise its commission fee for restaurants that have registered for Baemin delivery services to 9.8 percent of food prices from next month.

Baemin has received 6.8 percent commissions from …

(EDITORIAL from Korea Times on July 10)

The People Power Party’s (PPP) leadership selection process is taking a surprising turn ahead of the ruling party’s national convention on July 23.

The disclosure on July 4 of texts sent by first lady Kim Keon Hee to former PPP interim chief Han Don…