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East Asia
S. Korean banks’ household lending grows faster in February
Household lending extended by South Korea’s major banks picked up the pace in February due to the growth in credit loans, market data showed Tuesday. The country’s five major lenders — KB Kookmin, Shinhan, Woori, KEB Hana, and Nonghyup — had 573.91 trillion won (US$509.87 billion) in outstanding household loans…
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East Asia
President Moon calls for joint action with China to reduce fine dust
South Korean President Moon Jae-in ordered his government Wednesday to work together with China to fight fine dust pollution, his office Cheong Wa Dae said. South Korea has suffered from the worst particulate matter pollution this week with a large portion of the fine dust believed to be blown…
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East Asia
After Singapore, Can Sizzle Be Replaced With Steak?
WHAT can face-to-face diplomacy between US President Donald Trump and North Korean leader Kim Jong Un achieve? It is wisest not to expect a revolutionary change in Trump’s approach and instead for him to play to his strengths: ceremony and personal relationships. On substance, the South Korean-led process should be…
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East Asia
Moody’s revises down 2019, 2020 economic growth outlooks for S. Korea
Global credit rating setter Moody’s Investors Service revised down its outlook for South Korea’s economic growth for 2019 and 2020, its latest report showed Monday. “We forecast real GDP growth in South Korea slightly above 2 percent in both 2019 and 2020, markedly lower than the 2.7 pct growth in…
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East Asia
K-pop superfans’ craze for special items creates new potential market
Choi Seo-hyun, a big fan of BTS, recently bought a card bearing a photo of band member Jungkook via Twitter. The card was from the boy band’s latest album, “Love Yourself: Answer,” which comes with a random photo of one of the seven members. “It’s a probability of one in…
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East Asia
North Korea will ‘definitely’ be denuclearized: Moon
President Moon Jae-in reiterated his confidence in diplomatic efforts to denuclearize the Korean Peninsula Tuesday despite the fruitless summit between North Korea and the United States last week. “Should we consistently pursue peace with firm determination, denuclearization of the Korean Peninsula and permanent peace will definitely come,” the president said…
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East Asia
Gov’t to step up countermeasures against fine dust pollution
South Korea is moving to designate fine dust concentrations as a disaster in law, part of its countermeasures to the nation’s worsening air pollution problem, officials said Tuesday. If fine dust pollution is legally recognized as a disaster, the government will work out concrete criteria for damage assessment and support…
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East Asia
Talking at the Top: Past, Present and Future Summit Diplomacy in Asia
As the metaphor suggests, summitry sits at the pinnacle of international politics; indeed, the term was first introduced by none other than Winston Churchill. Defined most broadly as face-to-face meetings of heads of state, summits have on occasion proven to be defining historical moments: Neville Chamberlain at Munich, John F.…
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East Asia
N. Korean media highlights leader’s love for people following Hanoi trip
North Korea’s main newspaper on Monday highlighted how much leader Kim Jong-un cares for his people in an apparent move to boost internal unity as he heads back home after a trip to Hanoi for a second summit with U.S. President Donald Trump. In an article titled “A great love…
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East Asia
What happened, or didn’t happen, when Trump and Kim met again
When Kim Jong-un chose to travel nearly 4,000 kilometers by train to meet Donald Trump, it was only the beginning of a long and bumpy road to disarmament and peace, which remains out of reach after many handshakes, pleasantries and two days of talks. The North Korean leader and the…
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