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≡ Demolition Of N. Korea Nuclear Site Likely To Take Place Later Thursday: Seoul
Seoul's unification ministry says it is highly likely that a ceremony for the dismantlement of North Korea's Punggye-ri nuclear test site will be held later today.
A ministry official said the foreign journalists invited to witness the demolition have already left for the site and the weather is also forecast to be relatively good in the region this afternoon, with rain showers predicted for tomorrow.
However, any confirmation of the dismantlement will not be possible until the reporters get back to their press center as the nuclear site is located in a remote mountainous area where no Internet access is available.■[2018.05.24]
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≡ N. Korea Renews Threat To Drop Planned Summit With US
A senior North Korean official has renewed threats to call off a planned summit between regime leader Kim Jong-un and U.S. President Donald Trump.
In a statement carried by the Korean Central News Agency, Vice Foreign Minister Choe Son-hui said Pyongyang will reconsider the June 12th summit if Washington sticks to its "unlawful and outrageous acts."
The North has ramped up criticism of the Trump administration for attempting to force "unilateral" denuclearization, with no promise of concessions until the process is in motion.
Choe's remarks come just a week after first vice foreign minister Kim Kye-gwan said the regime is not interested in being coerced into giving up its nuclear arsenal, warning it could walk away from the unprecedented meeting.■
[2018.05.24]
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≡ 'Nutrage' Korean Air Heiress Questioned For Illegal Maids
A Korean Air heiress known for a "nut rage" tantrum has been questioned for illegally hiring immigrants to work as maids.
Cho Hyun-ah, the eldest daughter of Hanjin Group Chairman Cho Yang-ho, kept her head bowed and offered an apology for "causing trouble" as she reported to immigration authorities in early afternoon.
She faces allegations that she illegally hired at least 20 Filipinas to work as housemaids in the family home by disguising them as company trainees to obtain visas.
It is against the law in Korea to hire foreigners as domestic helpers.
A series of scandals have left the Korean Air chairman and his family facing mounting scrutiny over a spate of alleged wrongdoings.
The chairman's wife, Lee Myung-hee, who is also suspected of illegally hiring foreign workers, is scheduled to report to police on Monday for questioning over separate assault and abuse cases.■[2018.05.24]
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≡ Bank Of Korea Holds Key Rate Steady At 1.5% For May
The Bank of Korea has left its key rate unchanged for May amid signs of a slowdown in economic activity and low inflation pressure.
The central bank's monetary policy board voted today to hold the policy rate at 1.5 percent, as widely expected.
The move extends its wait-and-see stance to six months.
Analysts predict the BOK will have to increase rates at least once this year.
With the U.S. Fed expected to raise rates again in June, economists believe the central bank will need to follow suit.
Meanwhile, Finance Minister Kim Dong-yeon said the country is on track toward its growth target of 3 percent, but there are mixed signals in recent economic indicators.■
[2018.05.24]
