Category: Latest News – South Korea

South Korea’s economy is gaining momentum as the artificial intelligence (AI) sector bolsters growth, helping the country navigate a backdrop of global economic challenges. At the International Monetary and Financial Committee (IMFC), Finance Minister Lee Hyoung-il highlighted the…

Continue reading AI-Driven Growth Fuels South Korea’s Economy Amid Global Headwinds

South Korea’s economy is weathering worldwide downturns thanks to a surge in artificial‑intelligence investment, according to an IMF official. The IMF noted that the AI‑driven investment cycle is unlikely to lose momentum, helping the country sustain growth despite…

Continue reading AI Boom Keeps South Korea’s Economy on Track Amid Global Headwinds

South Korea and the United States are closely monitoring North Korea’s recent underwater test of a new AI‑driven high‑speed torpedo, which Pyongyang says marks a “significant” shift in its naval capabilities. The test, described by Yonhap and the…

Continue reading North Korea Tests AI‑Powered Precision‑Guided Torpedo, Raising Regional Security Concerns

Key developments – North Korea announced it successfully conducted an underwater test of a new AI‑powered precision‑guided torpedo, a “significant” step forward for its navy. The weapon, dubbed the Zam‑2.0, is described as a high‑speed, AI‑enhanced system that…

Continue reading North Korea tests AI‑guided torpedo as South Korea and the U.S. kick off first joint finance‑monetary talks

Key developments: Government data released Friday showed the economy added 113,000 jobs in September, extending a three‑month streak of adding over 100,000 workers and pushing total employment to 29.26 million, up from 29.15 million a year earlier. At the same…

Continue reading South Korea sees strong job growth, housing starts lag, and a serious factory fire in Bucheon

South Korea added 113,000 jobs in September, marking the third month in a row of employment gains exceeding 100,000, bringing total employment to 29.26 million, up from 29.15 million a year earlier. The robust hiring data comes as the country…

Continue reading South Korea sees strong job gains, stock rebound and a modest bounce in presidential approval

President Lee Jae Myung told a live Cabinet meeting that while disagreements with allies are natural, South Korea must prioritize its own interests and avoid a “submissive” stance in foreign policy. At the same time, the International Monetary…

Continue reading South Korea Boosts Growth Outlook, Shifts Diplomatic Tone, and Accelerates Government Relocation

South Korea’s economy is set to expand faster than previously expected, with the International Monetary Fund increasing its 2024 growth projection to 3.3% from 2.6% earlier this year. The upgrade reflects a surge in semiconductor exports, which are…

Continue reading IMF raises South Korea’s 2024 growth forecast to 3.3% on booming chip exports