The Bank of Korea (BOK) said Tuesday it expects consumer inflation to remain stable for the time being, reinforcing views that the central bank may consider a policy pivot. BOK Deputy Gov. Kim Woong made the remarks after consumer prices slowed to the lowest level in nearly 3 1/2 years in August. “Inflation is expected to remain stable for the

– Hanwha Ocean Co., a major South Korean defense and shipbuilding company, said Tuesday it has begun maintenance, repair and overhaul (MRO) services for a 40,000-ton logistics support vessel of the U.S. Navy. The Wally Schirra arrived at Hanwha Ocean’s shipyard in Geoje on the southern coast of South Korea on Monday for regular maintenance, according to the Korean shipbuilder.

North Korea is estimated to have earned more than US$6 billion through hacking and other illicit activities over the past seven years despite facing heavy international sanctions, a state-run think tank report showed Tuesday. North Korea’s income through illegal activities from 2017 to 2023, such as smuggling out coal, reached a total of $6.29 billion, according to the report from

The government on Tuesday designated Armed Forces Day on Oct. 1 as a temporary holiday this year to boost troop morale and domestic consumption. A motion to designate the holiday was passed during a Cabinet meeting and will be sent to President Yoon Suk Yeol for approval. The designation, which came at the request of the ruling People Power Party,

South Korea and the United States kicked off a joint underwater excavation project Tuesday in waters off the southeastern port city of Busan to search for the remains of American soldiers killed during the 1950-53 Korean War, the defense ministry said. Some 22 personnel from the ministry’s Agency for KIA Recovery and Identification and the U.S. Defense POW/MIA Accounting Agency

Kim Ha-seong, the injured shortstop for the San Diego Padres, has returned to his home city after rehabbing his shoulder in Arizona, though his return date remains unclear. MLB.com reported Monday (U.S. local time) that Kim was back in San Diego for the Padres’ series opener against the Detroit Tigers. He had been in the Padres’ spring training complex in

South Korea’s consumer prices slowed to the lowest level in nearly 3 1/2 years in August on easing prices of farm produce and global oil, data showed Tuesday. Consumer prices, a key gauge of inflation, rose 2 percent on-year last month, compared with a 2.6 percent on-year rise a month earlier, according to the data from Statistics Korea. August’s figure

The government on Tuesday designated Armed Forces Day on Oct. 1 as a temporary holiday this year to boost troop morale and domestic consumption. A motion to designate the holiday was passed during a Cabinet meeting and will be sent to President Yoon Suk Yeol for approval. The designation, which came at the request of the ruling People Power Party,