The Korea Interbank Offered Rates (KORIBOR) as posted by Yonhap Infomax, the financial news and information arm of Yonhap News Agency, at 11:00 a.m. Term Today (%) Previous Session (%) 1-W 3.50 3.50 1-M 3.49 3.49 2-M 3.49 3.49 3-M 3.50 3.49 6-M 3.46 3.46 12-M 3.39 3.38 Source: Yonhap News Agency

Casper Electric, the new entry-level mini SUV model from Hyundai Motor Co., made a strong debut last month to become the company’s bestselling electric vehicle model in South Korea, according to industry data Tuesday. The combined domestic sales of Hyundai Motor EVs, including the Casper Electric, Kona Electric, Ioniq 5, Ioniq 6 and Nexo, in August totaled 3,676 units. Casper

The United States may need to reevaluate its strategy on the expanding military ties between North Korea and Russia if Vice President Kamala Harris becomes president as Pyongyang’s alleged arms support for Moscow’s war in Ukraine is deeply troubling, a U.S. senator said Tuesday. In an interview with Yonhap News Agency, Sen. Chris Coons (D-Del) said the Biden administration’s North

Japanese Prime Minister Fumio Kishida will visit South Korea later this week for talks with President Yoon Suk Yeol, the presidential office said Tuesday, as Kishida is preparing to leave office with a legacy of improving long-frayed relations with Seoul. After arriving Friday for a two-day visit, Kishida will hold talks with Yoon, where the two leaders will look back

South Korea’s exports of food products over the first eight months of 2024 increased 8.7 percent from a year earlier on the back of robust shipments of instant noodles and processed rice products, data showed Tuesday. Outbound shipments of processed and fresh foodstuffs reached US$6.47 billion over the January-August period, compared with $5.95 billion tallied a year earlier, according to

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,

Bank of Korea (BOK) Gov. Rhee Chang-yong said Tuesday the time has come to “sufficiently consider” a rate cut as the nation’s consumer inflation cooled. “In terms of stability of consumer prices, it is time to sufficiently consider lowering a benchmark interest rate,” Rhee told reporters at a forum in Seoul. Rhee said the central bank would review an “appropriate

Actor Yoo Ah-in was sentenced to one year in prison on Tuesday for habitually abusing illegal drugs and was immediately put under detention. The 38-year-old actor, whose latest works include the Netflix dark fantasy series “Hellbound,” faces charges of illegally using propofol, a medical anesthetic, under the pretext of cosmetic procedures on 181 occasions between 2020 and 2022. He was