Banks’ lending rate rises in May

SEOUL: Banks’ loan rate slightly rose in May, as the central bank has frozen its key rate for more than a year amid still-high inflation, data showed Friday.

The average lending rate of banks applied to new loans last month came to 4.78 percent, up f…

Read More »

Busan seen entering phase of extinction, study says

SEOUL: Busan, South Korea’s second-largest city, appears to have entered a phase of extinction due to low birthrates and superaging population, becoming the nation’s first metropolitan city to do so, said a research paper published on Friday.

The pap…

Read More »