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Asia-Pacific News Korea

  • *Bitcoin trading at a big premium in Japan, South Korea. HONG KONG, May 26- Japanese and South Korean buying helped drive the price of bitcoin to an all-time high this week, with the digital currency more than doubling its value since the start of the year, analysts and market practitioners said on Friday. In Japan and South Korea, among the largest markets for bitcoin...

  • *OPEC, allies extend production cuts through March 2018. SINGAPORE, May 26- The OPEC- led decision to extend a production cut to March 2018 disappointed financial investors, prompting an exit from oil futures markets, while refiners in Asia were mostly concerned with whether it meant they would need to go hunting for crude. "This is a declaration of a strong will of...

  • SEOUL, May 25- South Korea's central bank kept interest rates steady on Thursday, taking an unusually bullish view of economic growth prospects as a new administration formulates multi-billion-dollar fiscal stimulus measures. The Bank of Korea's monetary policy committee held its base rate steady at 1.25 percent as predicted by all 19 economists surveyed...

  • TOKYO— While world attention has focused on Kim Jong Un's recent missile tests, a month-long surge in gasoline prices in Pyongyang is showing no signs of letting up— a puzzling problem that if allowed to drag on could be very bad news for the North Korean economy. That means North Korea now has some of the highest prices in the world for gasoline.

  • SEOUL, May 25- Following is the full text of the statement released by the Bank of Korea in English after the central bank kept interest rates unchanged at on Thursday. "The Monetary Policy Board of the Bank of Korea decided today to leave the Base Rate unchanged at 1.25 percent for the intermeeting period." "Based on currently available information the Board...

  • Donald Trump tells Duterte of two US nuclear subs in Korean waters

    According to the New York Times, Trump told Philippine President Rodrigo Duterte that he sent two nuclear submarines to Korean waters.

  • BEIJING, May 23- China's imports of North Korean goods in April fell below $100 million to the lowest in nearly three years, data showed on Tuesday, after China stopped buying coal from the isolated country and as calls mount for further economic sanctions. Neighbouring China is North Korea's biggest trade partner, and the data indicates that China's halt of...

  • BEIJING, May 23- China's imports of North Korean goods in April fell below $100 million to the lowest in nearly three years, data showed on Tuesday, after China stopped buying coal from the isolated country and as calls mount for further economic sanctions. Cho Bong- hyun, who heads research on North Korea's economy at IBK Bank in Seoul, said China's imports to North...

  • SEOUL, May 23- South Korea's former leader Park Geun-hye abused her power and pressured companies to pay her tens of millions of dollars in bribes, a prosecutor told a Seoul court at the start of her corruption trial on Tuesday. If found guilty of taking bribes from business leaders including Samsung Group scion Jay Y. Lee, one of the key accusations that led to her...

  • SEOUL, May 23- South Korea's former leader Park Geun-hye abused her power and pressured companies to pay her tens of millions of dollars in bribes, a prosecutor told a Seoul court at the start of her corruption trial on Tuesday. If found guilty of taking bribes from business leaders including Samsung Group scion Jay Y. Lee, one of the key accusations that led to her...

  • *Park arrives for corruption trial in handcuffs. SEOUL, May 23- South Korea's former leader Park Geun-hye arrived at a Seoul court on Tuesday to stand trial on bribery charges over a corruption scandal that brought down her presidency. In her first public appearance since she was arrested in March, Park arrived at court in a blue correctional services van about an...

  • SEOUL, South Korea— Handcuffed, her inmate number 503 attached to her clothing, former South Korean President Park Geun-hye begins her corruption trial Tuesday in the same courtroom where a brutal dictator was sentenced to death two decades ago. The hearing in room No. 417 of the Seoul Central District Court will be Park's first public appearance since she was...

  • President Donald Trump, now on a trip to the Middle East, left behind political drama in Washington that some fear could derail his administration's promises of tax reform and fiscal stimulus, if not his presidency. Trump's budget proposal, set to be unveiled on Tuesday, will include cuts to Medicaid and propose changes to other assistance programs for...

  • Asian investors continued to monitor the situation on the Korean peninsula, after North Korea fired a ballistic missile into waters off its east coast on Sunday, its second missile test in a week. South Korea said the launch dashed hopes for Seoul's new liberal government's aim for peace between the neighbours. Against its perceived safe-haven Japanese...

  • North Korean leader Kim Jong Un reacts with members of the Korean People's Army in this undated photo released by North Korea's Korean Central News Agency (KCNA) on May 15, 2017.

    North Korea says its latest missile test has confirmed the reliability of late-stage guidance to deliver a potential nuclear warhead.

  • North Korea fired a ballistic missile on Sunday, South Korea and Japan said, a week after an intermediate-range missile test.

  • *Moon yet to spell out reform agenda. * "Chaebol sniper" named head of regulatory agency. SEOUL, May 21- A South Korean retail giant has shelved controversial expansion plans, while a large bank made hundreds of contract jobs permanent after President Moon Jae- in took office vowing to reform the family-run conglomerates that dominate the economy.

  • *Hyundai says it will cooperate sincerely with probe. On Saturday, a Hyundai spokesman in Seoul said the company "has conducted recalls in compliance with U.S. regulations and procedure" and will "sincerely" cooperate with the probe. Kim Gwang- ho, then an engineer at Hyundai, flew to Washington in August 2016 to tell NHTSA the company was not taking enough action to...

  • SEOUL/ WASHINGTON, May 20- U.S. safety regulators have opened a formal investigation into the recall of nearly 1.7 million Hyundai Motor Co and affiliate Kia Motor Corp U.S. vehicles for engine problems, according to filings. Acting after a Korean whistleblower reported concerns to the U.S. auto safety agency last year, the U.S. National Highway Traffic Safety...

  • UNITED NATIONS, May 19- North Korea's deputy United Nations envoy said on Friday "it is ridiculous" to link Pyongyang with the WannaCry "ransomware" cyber attack that started to sweep around the globe a week ago or the hacking of a U.N. expert monitoring sanctions violations. Ambassador Kim In Ryong told a news conference when asked if Pyongyang was involved in the...