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N. Korea's Kim reaffirms alliance with Russia in letter to Putin

North Korean leader Kim Jong-un sent a congratulatory letter to Russian President Vladimir Putin on Russia Day, reaffirming unwavering support for Moscow's policies and highlighting the deepening alliance under their comprehensive strategic partnership treaty. The treaty, signed in June 2024, has led to military cooperation, including the deployment of North Korean troops to support Russia in Ukraine, and the countries continue to strengthen bilateral ties.

3 outlets · 6 articles Jun 11

Banks' household loan expands at fastest clip in nearly 2 yrs in May on stock investments-related loans

South Korean banks are tightening lending criteria as household loans rose at the fastest pace in nearly two years in May, driven by individuals borrowing to invest in a surging stock market. Data from the Bank of Korea shows outstanding household loans increased by 6.9 trillion won, with non-mortgage loans seeing their largest jump since 2021 as the KOSPI crossed 8,000.

1 outlet · 3 articles Jun 11

S. Korea's fiscal balance improves on higher tax revenue through April

South Korea's managed fiscal balance improved in the first four months of 2026, with the deficit narrowing to 36.6 trillion won amid a sharp rise in tax revenue, driven by robust corporate earnings and a stock market surge linked to the AI boom. Budget Minister Park Hong-keun met with experts to discuss fiscal policy, with suggestions for proactive investment in AI and semiconductor infrastructure.

1 outlet · 3 articles Jun 11

(2nd LD) S. Korea loses 40,000 jobs in May, first drop since 2024 martial law bid

South Korea's job market contracted in May, with employment falling by 40,000 year-on-year, the first drop in 17 months. The decline was driven by losses in manufacturing and science-technology services, while the government attributed the downturn to economic uncertainties linked to the prolonged Middle East conflict. Youth employment also saw a sharp fall, with the employment rate for those aged 15-29 dropping to 43.8%.

1 outlet · 4 articles Jun 11

Another S. Korea-operated vessel transits through Strait of Hormuz

A second South Korean-operated vessel has successfully transited the Strait of Hormuz, reducing the number of stranded ships and sailors. An LNG carrier with eight Korean crew members departed after consultations between the shipper and a foreign charterer. Meanwhile, an earlier stranded oil tanker arrived in Ulsan, carrying Kuwaiti crude, as Seoul continues to seek alternative routes for oil imports.

1 outlet · 5 articles Jun 10