General

(EDITORIAL from Korea Herald on July 10)

South Korea’s household loans surged at an embarrassing pace last week, ringing alarm bells for financial authorities over local home buyers rushing to take out mortgage loans from banks, often beyond their repayment capacity, in a bid to ride a reco…

S. Korea begins production of KF-21 fighter jet

South Korea began production of the homegrown KF-21 fighter jet Wednesday, the defense procurement agency said, in the latest milestone in the country’s efforts to build an advanced fighter aircraft.

A ceremony marking the assembly of the first KF-2…

Yoon arrives in Washington to attend high-stakes NATO Summit

President Yoon Suk Yeol arrived in Washington on Wednesday to attend a North Atlantic Treaty Organization (NATO) summit with a strong message against North Korea’s military cooperation with Russia amid the prolonged war in Ukraine.

South Korea was i…

Early repayment charges to be lowered from mid-January next year

Early repayment charges on loans will be lowered from mid-January next year as financial regulators revised rules, officials said Wednesday.

Under the revised rules, lenders will only be allowed to collect the actual cost of making or handling the l…