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Seoul to complete privatization of Woori Financial by 2022

Seoul to complete privatization of Woori Financial by 2022

The government plans to sell its remaining stake in Woori Financial Holdings Co. by 2022, in a bid to recoup taxpayers’ money that was used to bail out the financial holding firm in the wake of the financial crisis in 1997, the financial regulator said Tuesday. In a statement, the Financial Services Commission (FSC) said […]

Foreign tourist arrivals in Seoul to reach record-high 14 million this year

Foreign tourist arrivals in Seoul to reach record-high 14 million this year

The number of foreign tourists visiting Seoul is expected to reach an all-time high over 14 million this year, the city’s mayor said Tuesday. Mayor Park Won-soon made the forecast during a session of the Seoul Metropolitan Council. “Seoul now ranks seventh worldwide in terms of foreign tourist arrivals. The number reached 13.6 million in […]

U.S. Embassy in Seoul removes rainbow flag amid speculation of Washington’s disapproval

U.S. Embassy in Seoul removes rainbow flag amid speculation of Washington’s disapproval

A rainbow flag symbolizing sexual minorities has been taken down from the U.S. Embassy building in Seoul amid a news report that the State Department has adopted a new policy to reject all requests to raise such flags. The eight-by-four-meter flag was hoisted on the front wall of the U.S. mission in Gwanghwamun, central Seoul, […]

Annual book fair to open for 5-day run in Seoul

Annual book fair to open for 5-day run in Seoul

The annual Seoul International Book Fair (SIBF) will raise its curtains next week to guide book lovers through the latest news and trends in the publishing industry at home and abroad under the theme “Arrival,” its organizers said Monday. The 25th SIBF, set to run from June 19-23 at the Convention and Exhibition Center in […]

Peaceful, vibrant South Korea marches to its own beat

Peaceful, vibrant South Korea marches to its own beat

Seoul: The eerie silence spoke louder than the years of the ominous standoff across the borders of the world’s last divided country, Korea. We were a small group of journalists walking in the barbed wire corridor in the Civilian Control Line alongside the Han River, escorted by army staff who were pleasantly friendly and surprisingly […]

World forum on air quality improvement to open in Seoul this week

World forum on air quality improvement to open in Seoul this week

Officials of global cities battling air pollution and environmental experts will gather in Seoul this week to discuss concerted efforts and measures to reduce fine dust particles, the Seoul government said Tuesday. The Seoul International Forum on Air Quality Improvement 2019 will take place at Seoul City Hall on Wednesday and Thursday under the theme […]

Seoul to take steps to stabilize market over volatility

Seoul to take steps to stabilize market over volatility

South Korea will take “appropriate” steps to stabilize its financial markets in case of increased volatility, signaling Seoul’s possible intervention in the foreign-exchange market. Hong Nam-ki, the minister of economy and finance, said South Korea will strengthen the monitoring of financial markets and take preemptive actions against a risk factor amid the escalating trade frictions […]

Moonlit nocturnal stroll at UNESCO-recognized royal palace in Seoul

Moonlit nocturnal stroll at UNESCO-recognized royal palace in Seoul

A nocturnal stroll under a full moon at Changdeok Palace, the only UNESCO-recognized royal palace of the five from Korea’s last kingdom of Joseon, provides the kind of experience a Joseon king would have savored in the lavish palatial compound. The royal palace, a UNESCO World Heritage site, usually opens itself up to nighttime visitors […]

Seoul closely monitoring the won’s decline

Seoul closely monitoring the won’s decline

South Korean financial authorities said Thursday they are closely monitoring the recent weakening of the South Korean won. The local currency closed at 1,191.5 won against the U.S. dollar on Thursday, marking a 28-month low against the greenback over deepening trade frictions between the United States and China. The U.S. has raised its import tariffs […]

Bus drivers in Seoul, major cities cancel planned strike after reaching wage deal

Bus drivers in Seoul, major cities cancel planned strike after reaching wage deal

Unionized bus drivers in Seoul, Busan and many other metropolitan cities and provinces canceled a planned strike on Wednesday after reaching last-minute wage deals with their management. Labor and management at about 200 bus companies nationwide held marathon negotiations until early Wednesday morning over wage hikes for drivers who will suffer a reduction in income […]

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