Steven Borowiec

1 week ago | asia.nikkei.com | Steven Borowiec

YANGJU, South Korea -- Near the site of one of South Korea's most emotive tragedies, dozens of mourners gathered Friday to remember the lives of two schoolgirls and hope for better times ahead. The occasion was the annual memorial for Shim Mi-seon and Shin Hyo-sun, two middle school friends who lived in this mountainous village about one hour's drive north of the capital, Seoul, close to the border with North Korea.

3 weeks ago | asia.nikkei.com | Steven Borowiec

SEOUL -- Following Lee Jae-myung's victory in South Korea's presidential election, the U.S. State Department issued a statement filled with standard phrases touting the "ironclad commitment" to the two countries' alliance and pledges to deepen three-way cooperation with Japan. In his inauguration speech on Wednesday morning, Lee also highlighted the importance of the U.S. alliance.

4 weeks ago | asia.nikkei.com | Steven Borowiec

SEOUL -- On the night of the final televised debate before South Korea elects a new president, supporters of various political movements converged en masse at the studio hosting the event. What they offered was a vivid demonstration of the raucous, divided state of the country's politics that awaits the victor in the June 3 election. After six months of strife in the streets and courts triggered by now-ousted President Yoon Suk Yeol's Dec.

1 month ago | asia.nikkei.com | Steven Borowiec

SEOUL -- South Korea's central bank cut its key policy rate 25 basis points to 2.50% on Thursday as it seeks to boost flagging growth. Last month, at the previous rate-setting meeting, the Bank of Korea held the rate steady at 2.75%, flagging uncertainty "due to changes in U.S. tariff policies," and "the high volatility of exchange rates and the trend of household loans."

2 months ago | asia.nikkei.com | Steven Borowiec

SEOUL -- South Korea's economy contracted in the first quarter of this year, as exports dipped and a monthslong political crisis weighed on consumption, according to central bank data released Thursday. The Bank of Korea said in an advance estimate that real gross domestic product in Asia's fourth-largest economy shrank 0.2% during the January to March period compared with the previous quarter.