Insurance Market and Auto Insurance Market Predictable to Witness Sustainable Evolution over 2022

Korea and the United States pledged to reinforce cooperation to accelerate the transition of wartime operational control (OPCON) to Seoul from Washington during their senior-level defense talks this week, a joint statement said Friday. The allies held the 29th Korea-U.S. Integrated Defense Dialogue (KIDD) in Korea's southeastern city of Busan from Wednesday to Friday, as President Lee Jae Myung's administration seeks to retake wartime OPCON before the end of its term in 2030. "Both sides evaluated the work to modernize the alliance in the face of an evolving security environment," they said in the statement. "They also assessed progress on the Conditions-based Wartime Operational Control Transition Plan, and pledged to strengthen cooperation to accelerate the transition of wartime OPCON," they added. Seoul and Washington have been working on the conditions-based OPCON transfer since they agreed on it in October 2014. The conditions include Korea's capabilities to lead combined Korea-U.S. forces, its strike and air defense capabilities, and a regional security environment conducive to suc

President Lee Jae Myung said Saturday he is considering establishing a dedicated organization to oversee youth policies. Lee raised the idea during a ceremony to mark Youth Day at the presidential office, noting the difficulties faced by young people in the job market. "With the capabilities of current policymakers, it is difficult to emerge from this emergency situation," he said. "Opportunities for the new generation are decreasing with growing polarization and industrial restructuring due to artificial intelligence." Young job seekers have faced an increasingly tough market, with the employment rate for those aged 20 to 24 at 41.3 percent in the second quarter, compared with the 2025 average of 43.6 percent, according to government data.

More than 50,000 foreign nationals are expected to enter Korea through Incheon International Airport each day from Sept. 30 to Oct. 3, around China's National Day holiday on Oct. 1, prompting immigration authorities to activate emergency measures. According to the Incheon Airport Immigration Office under the Ministry of Justice, Thursday, between 198,000 and 220,000 foreign nationals are expected to enter the country through Incheon International Airport over the four-day period. That translates to an average of 49,500 to 55,000 arrivals per day, well above the daily average of 45,640 recorded from Sept. 30 to Oct. 4 last year. The number of foreign arrivals is expected to reach as many as 60,000 on Oct. 2, ahead of the weekend. That would slightly exceed this year's record high of 59,000 foreign arrivals in a single day. In response, the Incheon Airport Immigration Office will implement emergency measures for four days starting Sept. 30. The number of immigration officers assigned to arrival halls will be increased to 188, up from 128 during normal operations and 166 during special mea

Korea was in a much different state of development when U.S. Peace Corps Volunteers (PCVs) arrived in Korea for the first time, on Sept. 16, 1966. Sixty years later, 17 members of this first cohort, classified as K-1, returned to Korea to celebrate the mission's "hwangap," or 60th birthday. "Sixty years ago, you came to Korea as young volunteers," Song Guido, president of the Korea Foundation (KF), told the assembled PCVs during a dinner at The Plaza Seoul hotel, where they were joined by family members, Korean former co-workers and other members of Friends of Korea (FOK), a nonprofit organization founded by PCVs in 2002. "You came to teach, to work, but you also became part of communities, and formed friendships that have lasted for 60 years. Looking around this room tonight, we can see that this connection is still very much alive." "My friendship with three former PCVs helped shape my image of America," said Yoon Young-kwan, a former foreign minister of Korea. "PCVs have built that human connection as an important moment in Korea's history, and FOK has helped sustain it across genera

Fragments of a long-disappeared ancient giant land mass have been discovered buried deep beneath parts of the modern continents that once formed it, according to an international team led by Chinese scientists. Published this month in the peer-reviewed journal Science Advances, the discovery reveals that Gondwana – a land mass that dominated Earth some 500 million years ago – was much larger than previously believed. Crucially, the findings show how geological activity related to Gondwana...

Chinese action camera maker Insta360 is deepening its US footprint with a flagship store opening in New York as it navigates escalating price competition with DJI and industry-wide memory cost pressures. The Chinese GoPro rival was slated to plant its flag in the heart of Times Square with its first flagship retail store in the US on Saturday, a marquee launch as the firm looked to “leap to the next stage of growth”, co-founder Max Richter said. “The US market plays a very important role for us...

For years, the race to build ever more powerful artificial intelligence followed a well-worn Silicon ⁠Valley principle: move fast and break things. But in a series of cascading events over a 10-day stretch, the largest ⁠AI labs found themselves reeling as their own creations threatened to break humanity itself. An Anthropic researcher quit the firm, warning that the pace of AI development poses an existential threat, possibly within a decade. Another researcher at the firm said the odds of human...

Customs has made the largest seizure of drugs shipped by sea in Hong Kong’s history, discovering HK$125 million (US$15.93 million) worth of marijuana in a 40-foot container and arresting three people. The Customs and Excise Department revealed on Saturday that it had selected a seaborne container at the Kwai Chung Customhouse Cargo Examination Compound for inspection earlier in September after conducting a risk assessment and intelligence analysis. The container had been declared as containing...

US President Donald Trump’s claim of “permanent” security control over Greenland just days ahead of a state visit by his Chinese counterpart is an effort to boost US leverage, according to analysts. However, they warned of a potential negative impact on the high-stakes talks, citing broader risks to major-power trust and peaceful Arctic development. In a social media post on Friday, Trump said: “I am pleased to announce that the United States of America has entered into an Agreement with The...

Hong Kong flag carrier Cathay Pacific Airways has been ranked the world’s third-best airline for the second consecutive year, while also taking top awards for best cabin crew and first-class lounge in new industry rankings. Singapore Airlines reclaimed the top spot in the British-based Skytrax World Airline Awards, moving up from second place last year and swapping positions with Qatar Airways, which dropped to second. “These recognitions are a testament to the incredible efforts of the entire...

Police have arrested three people and broken up a large-scale drug production factory in northern Hong Kong, seizing HK$23 million (US$3 million) worth of suspected methamphetamine, or Ice. The force said on Saturday that two men and a woman, aged 49 to 56, were arrested on Thursday night. Police in Fanling first intercepted one of the men, who was holding a two-way permit, a document issued by mainland Chinese authorities allowing residents to travel to Hong Kong. Senior Inspector Chan Lik-ho...

While the Canadian tariffs have undoubtedly inflicted economic hardship on some in the US, can that translate into a change in votes for President Donald Trump's Republican party?