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The South Korean economy contracted in the first quarter, reflecting its struggle to rebound from sluggish consumption affected by political turmoil and poor export performance stemming from weak demand. Preliminary gross domestic product data from the Bank of Korea released on Thursday showed that the economy shrank 0.2 percent in the January-March period from the previous quarter, which was 0.4 percentage point lower than the central bank's earlier forecast in February of 0.2 percent growth. C
South Korea and Thailand can build a strong partnership based on mutual growth, attendees at the Ignite Thailand-Korea Business Forum discussed. Co-hosted by Herald Media Group, the Royal Thai Embassy in Korea and the Industrial Estate Authority of Thailand, the two-day event at Lotte Hotel Seoul aimed at deepening the bilateral economic ties. Commemorating the 67th anniversary of diplomatic relations between the two nations, the forum welcomed a large delegation of high-ranking Thai government
Thailand has strong potential to expand its infrastructure and financial systems, underpinned by a resilient economy, according to speakers at the Ignite Thailand-Korea Business Forum held Tuesday. At the event, Suksit Srichomkwan, deputy secretary-general to the Thai prime minister, promoted the country’s 1 trillion baht ($30 billion) Land Bridge project. It aims to link the Gulf of Thailand with the Andaman Sea through a 90-kilometer highway and railway, offering an alternative to the congeste
Thailand’s Deputy Minister of Finance Julapun Amornvivat underscored his country's economic partnership with South Korea at the Ignite Thailand-Korea Business Forum in Seoul on Wednesday, highlighting efforts to leverage the countries’ complementary strengths in a new era of financial cooperation. Serving as a gathering place for exploring economic cooperation across a diverse range of sectors, the two-day event -- held Tuesday and Wednesday at Lotte Hotel Seoul -- was co-hosted by Herald Media
Donald Trump Jr., the eldest son of US President Donald Trump, is scheduled to visit South Korea next week on what will be his first trip to the country since the inauguration of the second Trump administration, according to industry sources Thursday. Trump Jr. is visiting at the invitation of Shinsegae Group Chair Chung Yong-jin, who reportedly extended the offer during a recent visit to Mar-a-Lago, President Trump’s private residence in Palm Beach, Florida. According to sources, Chung conveyed
South Korean Minister of Trade, Industry and Energy Ahn Duk-geun said eliminating the US' “reciprocal” tariffs against Korea and resolving auto-related issues were the top priorities of upcoming high-level talks in Washington. Ahn is set join Deputy Prime Minister and Finance Minister Choi Sang-mok for the first “2+2” trade consultation with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer at 8 a.m. Thursday in Washington (9 p.m. Thursday, Korea time). “Basically, o
Kakao Bank CEO Yun Ho-young underscored the pivotal role of artificial intelligence in shaping the future of finance during a keynote speech at Money 20/20 Asia, positioning the digital lender as a front-runner in fintech innovation. Speaking Tuesday at one of Asia’s largest fintech forums, Yun highlighted Kakao Bank’s commitment to technological advancement, drawing on insights from his years at the helm of South Korea’s largest internet-only bank. “An AI-optimized user interface and user exper
The economic proposals unveiled by Lee Jae-myung, the presidential front-runner of the liberal Democratic Party of Korea, are triggering alarm bells among major South Korean conglomerates, particularly his plan to mandate that listed firms retire treasury shares following buybacks. On Monday, Lee introduced an ambitious policy framework aimed at doubling the benchmark Kospi index to surpass 5,000 points if elected. Central to this initiative is the cancellation of treasury shares held by publicl
What began as a nostalgic craze — turning selfies into illustrations styled after Japan's much beloved Studio Ghibli — quickly went viral, drawing millions of users to ChatGPT’s new image generation feature. With a simple photo upload and a text prompt like “turn this selfie into a Ghibli-style image,” OpenAI’s GPT-4o model can transform the image into one that mimics the studio’s distinctive works within seconds, based on the vast variety of image styles it has been trained on. But behind the c
The International Monetary Fund on Tuesday cut its economic growth forecast for South Korea to 1 percent this year, down from 2 percent projected in January. The IMF also revised Korea’s economic growth forecast for 2026 to 1.4 percent, a 0.7 percentage point decrease from the previous 2.1 percent projection. The downgrades come as both domestic and global uncertainties deepen, with increasing trade tensions and policy unpredictability weighing on economic momentum. Meanwhile, the Bank of Korea
Trump Jr. to visit Korea next week at invitation of Shinsegae chairman
Hyundai Motor posts record Q1 sales, profit despite US tariff woes
Who owns AI art? AI-generated Ghibli selfies spark legal debate
Kakao Bank CEO pledges AI leadership at Thai fintech forum
LG Electronics receives top supplier award from Toyota
Korea, Thailand resume EPA talks to boost trade ties
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