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30.09.26 - 20:51
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Bank of Korea To Buy 1 Ton Of Gold In First Purchase Since 2013 (ZeroHedge)
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Bank of Korea To Buy 1 Ton Of Gold In First Purchase Since 2013
Add South Korea to the list of countries taking tentative steps to hedge their exposure to the US dollar, and fiat in general.
The Bank of Korea will buy approximately one ton of domestically produced gold in December, worth 200 billion won, according to the office of Rep. Chung Tae-ho of the Democratic Party of Korea, a member of the National Assembly's Strategy and Finance Committee, on the 30th.
The move, which follows indirect investment through ETFs in the second quarter, signals a more active push into gold and marks the central bank's first physical gold purchase in 13 years. The first transaction is scheduled for December 14, after the bank establishes the system needed for domestic gold trading, Seoul Daily reported.
In materials submitted to Chung's office, the BOK said the necessary systems are expected to be in place around Dec. 14, allowing the first transaction to take place at that time. The central bank estimate...
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16.09.26 - 11:54
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Michelin-starred Seoul restaurant fined for serving dessert topped with ants (The Guardian)
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Prosecutors sought jail term for chief executive of Evett after insects not approved for consumption were on menuA South Korean court has fined the operator of one of Seoul's most celebrated restaurants and its chief executive for serving a dessert topped with ants, an insect not approved for consumption under local food safety law.The operator of Evett, a two-Michelin-star restaurant in the affluent Gangnam district, was fined 10m won (£5,400) and its chief executive 15m won, Newsis reported. Continue reading......
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22.07.26 - 11:48
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Michelin-starred restaurant owner in South Korea faces jail for serving ants in dessert (The Guardian)
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Fine of 20m won (£10,108) could also be imposed for serving insect not approved for consumption under local lawProsecutors in South Korea have asked a court to sentence the owner of a Michelin-starred restaurant to one year in prison for serving a dessert topped with ants, an insect not approved for consumption under local food safety law.The request, made on Monday, also sought a 20m won (£10,108) fine for the company that runs the restaurant, Yonhap news agency reported. Continue reading......
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30.06.26 - 07:00
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Chinese EV makers gain traction in South Korea′s import car market despite uphill battle (SCMP)
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This article was first published by The Korea Times in a partnership with the South China Morning Post.
When Choi, a 35-year-old office worker in South Korea, started looking for her next car, she did not expect Chinese electric vehicle (EV) brand BYD to make her shortlist.
“I've wanted an electric vehicle, but domestic models are just too expensive,” Choi said, adding that rising fuel prices first sparked her interest in EVs.
Her attention turned to Chinese brands after reading about China's......
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