Domestic Consumption Shows Signs of Slowing Further
Koreans are tightening their purse strings ever further in a worrying sign that the slump continues for all but the biggest exporters. Stores not only see fewer customers, but the ones that come spend less. One staffer at a Hanssem furniture store said, "Last year, if expensive items like sofas were on sale, they sold like hot cakes, but this year even these spur-of-the-moment purchases are rare. Our store is often empty on weekdays."
Prominent Defector on N.Korea's Relationship with Religion
Japanese Tourists Return to Korea
Interest Rates Frozen for Another Month
Trump Cancels Summit with Kim Jong-un
Korea Ranks Dismally Low in Labor Relations
Photos of Inside of Sewol Wreck Released
Seoul 'Pays More for U.S. Forces Upkeep Than Tokyo'
Seoul currently pays W3.4 trillion a year for the upkeep of the U.S. Forces Korea directly and indirectly. That is more than what Tokyo pays to support the U.S. Forces Japan, according to analysis by a state-run think tank.
N.Korea Blows up Nuclear Test Site
North Korea on Thursday blew up its nuclear test site in Punggye-ri as reporters from five countries looked on. But the North did not allow experts to inspect the site. North Korea blew up tunnels Nos. 2, 3 and 4 from 11 a.m. until 4:15 p.m.
Bottom-Rung Incomes Fall Despite Minimum Wage Hike
The average earnings of low-income households fell to the lowest level on record in the first quarter of this year despite a minimum wage hike that was supposed to help the working poor.