Showing posts with label Korea. Show all posts
Showing posts with label Korea. Show all posts

In private, Trump vents his frustration over lack of progress on North Korea

Chicago Tribune
July 22, 2018

When he emerged from his summit with Kim Jong Un last month, President Donald Trump triumphantly declared that North Korea no longer posed a nuclear threat and that one of the world's most intractable geopolitical crises had been "largely solved."
But in the days and weeks since then, U.S. negotiators have faced stiff resistance from a North Korean team practiced in the art of delay and obfuscation.
Diplomats say the North Koreans have canceled follow-up meetings, demanded more money and failed to maintain basic communications, even as the once-isolated regime's engagements with China and South Korea flourish.
Meanwhile, a missile-engine testing facility that Trump said would be destroyed remains intact, and U.S. intelligence officials say Pyongyang is working to conceal key aspects of its nuclear program.
The lack of immediate progress, though predicted by many analysts, has frustrated the president, who has fumed at his aides in private even as he publicly hails the success of the negotiations.
"Discussions are ongoing and they're going very well," Trump told reporters Tuesday.
The accounts of internal administration dynamics come from conversations with a half-dozen White House aides, State Department officials and diplomats, who spoke on the condition of anonymity to discuss the sensitive negotiations.
Officials say Trump has been captivated by the nuclear talks, asking staffers for daily updates on the status of the negotiations. His frustration with the lack of progress has been coupled with irritation about the media coverage of the joint statement he signed on June 12 in Singapore, a document that contains no timeline or specifics on denuclearization but has reduced tensions between the two countries.

Exclusive: Trump says Russia helping North Korea skirt sanctions; Pyongyang getting close on missile

Reuters
January 17, 2018

WASHINGTON (Reuters) - U.S. President Donald Trump said on Wednesday Russia is helping North Korea get supplies in violation of international sanctions and that Pyongyang is getting “closer every day” to being able to deliver a long-range missile to the United States.
“Russia is not helping us at all with North Korea,” Trump said during an Oval Office interview with Reuters. “What China is helping us with, Russia is denting. In other words, Russia is making up for some of what China is doing.”
China and Russia both signed onto the latest rounds of United Nations Security Council sanctions against North Korea imposed last year. There was no immediate comment from the Russian embassy in Washington on Trump’s remarks.
With North Korea persisting as the major global challenge facing Trump this year, the president cast doubt during the 53-minute interview on whether talks with North Korean leader Kim Jong Un would be useful. In the past he has not ruled out direct talks with Kim.
“I’d sit down, but I‘m not sure that sitting down will solve the problem,” he said, noting that past negotiations with the North Koreans by his predecessors had failed to rein in North Korea’s nuclear and missile programs.
“They’ve talked for 25 years and they’ve taken advantage of our presidents, of our previous presidents,” he said.
He declined to comment when asked whether he had engaged in any communications at all with Kim, with whom he has exchanged public insults and threats, heightening tensions in the region.
Trump said he hoped the standoff with Pyongyang could be resolved “in a peaceful way, but it’s very possible that it can’t.”

Tens of thousands of US citizens may die if Korean conflict breaks out – Russian Security Council

RT News
December 26, 2017
FILE PHOTO: Supporters of U.S. President Donald Trump display U.S. flags while waiting for Trump's motorcade to pass in central Seoul, South Korea © Kim Kyung Hoon


A full-scale military action on the Korean peninsula would kill tens of thousands of Americans living in South Korea, the head of Russia’s Security Council warned.
The US is well aware that a possible attack on North Korea would inflict heavy casualties on 250,000 Americans residing in the South, Nikolai Patrushev, Secretary of Russia’s Security Council, told Russian media on Tuesday.
“If large-scale hostilities break out on the Korean peninsula, tens of thousands of US citizens will die,” Patrushev stressed. He added such an outcome is known as “unacceptable casualties in every country’s military language.”
The security official reiterated that North Korea’s artillery and rocket launch sites are positioned just 50 kilometers from Seoul, a vibrant metropolis accommodating some 10 million people.
In the meantime, Washington bears responsibility for contributing to “a vicious circle” of tension on the peninsula. “Today, the US makes aggressive [and] provocative statements against the [North Korean] leadership and the entire North Korean people, and conducts large-scale aerial and naval drills together with South Korea,” Patrushev said.
For its part, Pyongyang responds with new ballistic missile launches and equally harsh statements. “This vicious circle is to be broken by political and diplomatic means only,” Patrushev added. Moscow and Beijing, he stressed, are now pushing for a comprehensive roadmap that includes North Korea halting its missile and nuclear tests, and the US ceasing its military drills on the peninsula.
Moscow believes that Washington, while ostensibly advocating a peace plan, is utilizing the North Korean nuclear issue to contain Russia and China and militarize the Asia-Pacific, the Security Council head stated.
“Washington is very consistent in its plans to deploy elements of its global missile defense system in the region,”Patrushev said. “We can’t rule out that raising tensions around North Korea benefits the United States’ strategic goals.”

Two US nuclear bombers fly close to North Korea in show of force

Daily Star
October 21, 2017
A pair of B-1B Lancer bombers


The US B-1B strategic bombers flew over South Korea today as part of an air show designed to intimidate North Korea's supreme leader Kim Jong-un.

The supersonic bombers, which cost more than a quarter of a billion each, flew low over Seoul Air Base for eight minutes. 
The brazen show of force follows weeks of bellicose rhetoric from Kim and Trump, who threatened to "totally destroy" North Korea if force to do so.
Trump is amassing warships in the region, including aircraft carrier USS Ronald Reagan, amid fears Kim may test another nuclear weapon or ballistic missile. 
US war drills were ramped up this week as warships fired a barrage of shells into the sky during joint exercises with South Korea. 
Today Trump showcased his air capability, with his bombers conducting air-to-surface missile firing drills before appearing at the airshow in Seoul. 

U.S. Special Forces “Decapitation” Team Deployed on Nuke Sub Off Coast of North Korea

Prison Planet
October 18, 2017

Calm before the storm?
Paul Joseph Watson
Prison Planet.com
October 16, 2017
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A U.S. Special Forces “decapitation” team is on board a a nuclear-powered submarine just off the coast of North Korea.
Buried in a Yonhap report about a joint US-South Korean Navy war drill is the revelation that, “A unit of U.S. special forces tasked with carrying out “decapitation” operations is aboard a nuclear-powered submarine in the group.”
Speculation is rife that the deployment could be what President Trump was referring to when he mentioned “the calm before the storm” in front of confused reporters two weeks ago.
Back in June it was reported that the U.S. and South Korea were training their special forces to track down and assassinate Kim Jong-un in the event of war as part of a joint operation.
North Korea has warned that it could respond to the training exercise with another ballistic missile launch to coincide with the Chinese 19th Party Congress on October 18.
Part of the wargame revolves around practicing the evacuation of noncombatant Americans out of South Korea in the event of war and other emergencies.
Assets mobilized for the joint drill include the U.S. 7th Fleet’s aircraft carrier USS Ronald Reagan (CVN-76) and two Arleigh Burke-class destroyers – the USS Stethem (DDG-63) and the USS Mustin (DDG-89).
North Korea intensified its bellicose rhetoric against the United States on Sunday night, accusing Trump of being a “war merchant and strangler of peace.”
US Secretary of State Rex Tillerson says Trump has instructed him to continue with diplomatic efforts, although Tillerson ominously added that this would be prolonged only “until the first bomb drops”.

North Korea: Millions sign up for military to fight against U.S.

USA Today
September 28, 2017


North Korea claims that 4.7 million of its citizens have volunteered to join or re-enlist in the military since leader Kim Jong Un threatened to "tame” President Trump “with fire" last week, North Korean state media reported.
Millions of young men and 1.22 million women said they wanted sign up to counter the U.S. since Friday, the Rodong Sinmun newspaper reported.
Pyongyang has previously claimed that North Koreans have volunteered to join the military as part of propaganda campaigns to boost solidarity, according to South Korean news agency Yonhap.

U.S. Defense Secretary Jim Mattis Weighs Using “Kinetic Weapon” On North Korea

Activist Post
September 24, 2017

U.S. Defense Secretary Jim Mattis hinted at using a kinetic weapon on Tuesday while discussing tensions with North Korea when he made a Freudian slip.
Mattis was asked whether there was “any military option the US can take with North Korea that would not put Seoul at grave risk,” Mattis responded, “Yes, there are, but I will not go into details.”
Later during the press conference, another reporter questioned Mattis and caught him off-guard:
“Just to clarify, you said that there were possible military options that would not create a grave risk to Seoul,” a reporter asked. “Are we talking kinetic options as well?”
“Yes, I don’t want to go into that,” Mattis responded.
Previously, Mattis stated that a war with North Korea would “involve the massive shelling of an ally’s capital, (South Korea) which is one of the most densely packed cities on earth.”
U.S. President Donald Trump in a speech to the United Nations on Tuesday threatened to “totally destroy North Korea” if Pyongyang didn’t quit its nuclear testing and threats.

North Korea Threatens EMP Attack on U.S. By Detonating Nuclear Bomb In Upper Atmosphere

Federalist Papers
September 10, 2017
Credit: Young Research & Publishing Inc.



Kim Jong-un has been on the war path for the past several months. Literally. This man is looking and asking for war.
The United Nations, the United States, and countries around the world have attempted to compromise, admonish, and discourage the Pyongyang regime but without success.
Kim Jong-un continues to test missiles, parade his weapons of destruction, and flex North Korea’s military capacity to the rest of the world.
As South Korea, China, and Japan become increasingly concerned with their belligerent neighbor, Kim Jong-un is focused on the United States.
The latest, according to The Conservative Tribune, is that Jong-un has a new threat for the democratic republic he despises:
The Pyongyang regime’s most recent threat is one of its most disturbing to date. North Korea’s state-run media claimed the country could kill millions of Americans by detonating an electro-magnetic pulse in the upper atmosphere over the United States, Fox News reported this week
In its most basic terms, an EMP is a burst of energy that wipes out almost all electronic devices. Cell phones, car batteries, power stations, pretty much anything that runs on electricity, would be permanently fried, or at the very least severely damaged.
North Korea could achieve this by detonating a hydrogen bomb in the atmosphere. Nuclear explosions result in EMPs, and the EMP from a high-altitude burst of a nuclear weapon would be devastating to the United States.
“The biggest danger would be shorting out of the power grid, especially on the East Coast. Imagine a situation where large sections of the U.S. had no power. Imagine New York or Washington, D.C., with no power for just a week. The implications would be hard to fathom,” Harry Kazianis, director of defense studies at the Center for the National Interest.
Think about the implications of this attack. There would be no electricity.
Hundreds of thousands of individuals would be without running water, hospitals, air conditioning or transportation.
It is a horribly realistic Ray Bradbury novel.
And who knows how long it would take to get this power back. Months? Years?
No power. Radioactivity. Nightmare.

Read the entire article

Gen. Mattis:US not looking for ‘total annihilation’ of N. Korea, but has ‘many options to do so’

RT News
September 4, 2017

Defense Secretary Mattis and General Dunford issue statement on North Korea in Washington © Mike Theiler / Reuters


US Defense Secretary Jim Mattis has warned that any attack on the United States or its allies will be met with a “massive military response,” and said that while the US was not “looking for the total annihilation” of North Korea, it had “many options to do so.”
“We have the ability to defend ourselves and our allies South Korea and Japan from attack, and our commitments to our allies are ironclad,” Mattis said in a statement he read out to journalists outside the White House.
“Any threat to the United States or its territories, including Guam or our allies, will be met with a massive military response – a response both effective and overwhelming.
“We are not looking to the total annihilation of a country – namely, North Korea. But as I said, we have many options to do so.
“We had a small group national security meeting today with the president and the vice president… We have many military options and the president wanted to be briefed on each one of them,” said Mattis, who was one of the first Trump cabinet members to be confirmed by Congress in January.
Mattis urged Pyongyang to respect the UN Security Council resolutions that have imposed sanctions on the country for both nuclear and missile tests, the latest of which was passed last month.
“Kim Jong-un should take heed of the United Nations Security Council’s unified voice. All members unanimously agreed on the threat North Korea poses. And they remain unanimous in their commitment to the denuclearization of the Korean Peninsula.”
On Sunday, North Korea announced that it had performed a “completely successful” underground test of a hydrogen bomb, which it claimed could be loaded onto an intercontinental ballistic missile. The nature of the test was corroborated through the worldwide detection of a man-made earthquake around the military facility at Punggye-ri, whose power significantly exceeded that produced by the five previous nuclear tests carried out by North Korea.

Gen. Mattis :US will launch 'massive military response' to NKorea threats

Yahoo News
September 3, 2017

Washington (AFP) - The United States will launch a "massive military response" to threats from North Korea, Secretary of Defense Jim Mattis said Sunday.
He spoke after President Donald Trump met with his national security advisers following a test of what Pyongyang said was a hydrogen bomb able to fit atop a missile.
"Any threat to the United States or its territories, including Guam, or our allies will be met with a massive military response, a response both effective and overwhelming," Mattis said.
He added: "Kim Jong-Un should take heed of the United Nations Security Council's unified voice. All members unanimously agreed on the threat North Korea poses and remain unanimous in their commitment to the denuclearization of the Korean Peninsula.


"We are not looking to the total annihilation of a country, namely North Korea, but as I said, we have many options to do so."
His comments came after Trump warned the time for "appeasement" was over and threatened drastic economic sanctions.
The unexpectedly powerful test Sunday was said to exceed in magnitude the atomic bombing of Hiroshima, Japan -- the resultant shock caused momentary panic in parts of China -- and Trump slammed it as "very hostile and dangerous to the United States."

North Korea nuclear test: Hydrogen bomb 'missile-ready' - BBC News

BBC News
September 3, 2017



North Korea says it has successfully tested a nuclear weapon that could be loaded onto a long-range missile. The secretive communist state said its sixth nuclear test was a "perfect success", hours after seismologists had detected an earth tremor. Pyongyang said it had tested a hydrogen bomb - a device many times more powerful than an atomic bomb. Analysts say the claims should be treated with caution, but its nuclear capability is clearly advancing. North Korea last carried out a nuclear test in September 2016. It has defied UN sanctions and international pressure to develop nuclear weapons and to test missiles which could potentially reach the mainland US. South Korean officials said the latest test took place in Kilju County, where the North's Punggye-ri nuclear test site is situated.
Source

North Korea Used Multiple-Rocket Launchers to Test Missiles

The New York Times
August 27, 2017
An undated photograph of the North Korean leader Kim Jong-un at a military exercise involving special operations forces at an undisclosed location. CreditAgence France-Presse — Getty Images

SEOUL, South Korea — North Korea used multiple-rocket launchers off its east coast on Saturday to fire three short-range missiles that could strike United States military bases deep in South Korea, officials in Seoul said.
The launches were the North’s first rocket tests since two intercontinental ballistic missile, or ICBM, were fired last month. By resuming the tests, North Korea defied repeated urgings from the United States and South Korea to stop weapons trials and other provocations to pave the way for dialogue.
The United States Pacific Command said that one of the three ballistic missiles had blown up immediately after blastoff, but that two others had traveled about 155 miles before splashing down.
That would be far enough to reach major South Korean and American military bases, including those near the city of Pyeongtaek, about 60 miles south of Seoul. The range would also be sufficient to reach Seongju, a South Korean town where the United States has begun installing an advanced missile-defense system known as Thaad.
The North has often tested missiles with similar scope, but the use of a multiple-tube launcher shows an advance in capability.
Read the entire article

Chinese paper says China should stay neutral if North Korea attacks first

Reuters
August 10, 2017

BEIJING (Reuters) - If North Korea launches an attack that threatens the United States then China should stay neutral, but if the United States attacks first and tries to overthrow North Korea's government China will stop them, a Chinese state-run newspaper said on Friday.
President Donald Trump ratcheted up his rhetoric toward North Korea and its leader on Thursday, warning Pyongyang against attacking Guam or U.S. allies after it disclosed plans to fire missiles over Japan to land near the U.S. Pacific territory.
China, North Korea's most important ally and trading partner, has reiterated calls for calm during the current crisis. It has expressed frustration with both Pyongyang's repeated nuclear and missile tests and with behavior from South Korea and the United States that it sees as escalating tensions.
The widely read state-run Global Times, published by the ruling Communist Party's official People's Daily, wrote in an editorial that Beijing is not able to persuade either Washington or Pyongyang to back down.
"It needs to make clear its stance to all sides and make them understand that when their actions jeopardize China's interests, China will respond with a firm hand," said the paper, which does not represent government policy.
"China should also make clear that if North Korea launches missiles that threaten U.S. soil first and the U.S. retaliates, China will stay neutral," it added.

North Korea fires three ballistic missiles as G20 leaders meet in China

Reuters
September 5, 2016
A passenger watches a TV screen broadcasting a news report on North Korea firing three ballistic missiles into the sea off its east coast, at a railway station in Seoul, South Korea, September 5, 2016. REUTERS/Kim Hong-Ji


North Korea fired three ballistic missiles into the sea off its east coast on Monday, the South Korean and U.S. militaries said, as the leaders of the Group of 20 major economies held a summit in China, the North's main diplomatic ally.
The missiles were fired from a region south of the capital Pyongyang just after noon (10.00 p.m. ET) and flew about 1,000 km (600 miles), hitting Japan's air defense identification zone, South Korea's Office of the Joint Chiefs of Staff said.

"We are still analyzing details but this is a grave threat to our nation's security, and we express deep concern," the Japan Defence Ministry said in a statement.

North Korea Releases Propaganda Film Showing Washington Under Nuclear Attack

The Guardian
March 27, 2016
A still from the propaganda film shows an imagined missile attack on Washington DC. Photograph: YouTube/DPRK



The video, menacingly titled ‘Last Chance’, contains a visual history of relations between the US and Pyongyang and ends with the US flag in flames


North Korea released a new propaganda video menacingly titled “Last Chance”, showing a submarine-launched nuclear missile laying waste to Washington and concluding with the US flag in flames.



The four-minute video, set to jaunty music, romps through the history of US-Korean relations and ends with a digitally manipulated sequence showing a missile surging through clouds, swerving back to the earth and slamming into the road in front of Washington’s Lincoln Memorial.
The US Capitol building explodes in the impact and a message flashes up on the screen in Korean: “If US imperialists budge an inch toward us, we will immediately hit them with nuclear (weapons).”
The video was published on the North’s propaganda website DPRK Today on Saturday and shows images from the Korean War, the capture of US spy ship Pueblo in 1968 and the first crisis over North Korea’s nuclear programme in the early 1990s.
Pyongyang has upped the rhetorical ante in recent weeks, with near daily threats of nuclear and conventional strikes against the South and the US mainland in response to large-scale South-US war games.
The threats have turned increasingly personal, and North Korea leader Kim Jong-Un on Friday watched a live-fire long-range artillery drill simulating a strike on the official residence of his South Korean counterpart.
Tensions between the two Koreas been on the rise since Pyongyang carried out its fourth nuclear test in January, and a satellite rocket launch a month later that was widely seen as a disguised ballistic missile test.
North Korea has been pushing to acquire submarine-launched ballistic missile (SLBM) capability which would take its nuclear strike threat to a new level, allowing deployment far beyond the Korean peninsula and the potential to retaliate in the event of a nuclear attack.
The North has conducted a number of what it says were successful tests of a SLBM.
But experts have questioned the veracity of those tests, suggesting Pyongyang had gone little further than a “pop-up” test from a submerged platform.

N. Korea approves nuclear strike on United States

AFP
April 4, 2013
 Kim Jong-Un with Senior N.Korean Military Officials



SEOUL — North Korea dramatically escalated its warlike rhetoric on Thursday, warning that it had authorised plans for nuclear strikes on targets in the United States.
"The moment of explosion is approaching fast," the North Korean military said, warning that war could break out "today or tomorrow".
Pyongyang's latest pronouncement came as Washington scrambled to reinforce its Pacific missile defences, preparing to send ground-based interceptors to Guam and dispatching two Aegis class destroyers to the region.
Tension was also high on the North's heavily fortified border with South Korea, after Kim Jong-Un's isolated regime barred South Koreans from entering a Seoul-funded joint industrial park on its side of the frontier.
In a statement published by the state KCNA news agency, the Korean People's Army general staff warned Washington that US threats would be "smashed by... cutting-edge smaller, lighter and diversified nuclear strike means".
"The merciless operation of our revolutionary armed forces in this regard has been finally examined and ratified," the statement said.
Last month, North Korea threatened a "pre-emptive" nuclear strike against the United States, and last week its supreme army command ordered strategic rocket units to combat status.
But, while Pyongyang has successfully carried out test nuclear detonations, most experts think it is not yet capable of mounting a device on a ballistic missile capable of striking US bases or territory.
Mounting tension in the region could however trigger incidents on the tense and heavily militarised border between North and South Korea.
The White House was swift to react to Pyongyang's latest "unhelpful and unconstructive threats".
National Security Council spokeswoman Caitlin Hayden said: "It is yet another offering in a long line of provocative statements that only serve to further isolate North Korea from the rest of the international community and undermine its goal of economic development.
"North Korea should stop its provocative threats and instead concentrate on abiding by its international obligations."

U.S. flies Stealth bomber practice raids over South Korea

Reuters
March 28, 2013


One of three Air Force Global Strike Command B-2 Spirit bombers returns to home base at Whiteman Air Force Base in Missouri, March 20, 2011 after striking targets in support of the international response which is enforcing a no-fly zone over Libya. REUTERS/Kenny Holston/U.S. Air Force photo/Handout
SEOUL | Thu Mar 28, 2013 8:43am EDT
(Reuters) - The United States flew two Stealth practice bombing runs over South Korea on Thursday, an exercise bound to infuriate North Koreawhich already threatened both countries with nuclear attack.
An official with the U.S. military said two B-2, or Stealth, bombers flew from an air base in Missouri to South Korea as part of Foal Eagle war drills being held with South Korea.
The exercise is not likely to go unnoticed in Pyongyang which has raised its rhetoric against the United States in response to new U.N. sanctions imposed after its third nuclear test in February.
The U.S. military announced on March 15 it was bolstering missile defenses in response to threats from the North, including a threat to conduct a preemptive nuclear strike against the United States.
Despite the shrill words, few believe North Korea, formally known as the Democratic People's Republic of Korea, will risk starting a full-out war.
North and South Korea are still technically at war anyway after their 1950-53 civil conflict ended with an armistice, not a treaty, which the North says it has since torn to pieces.
(Reporting by Jack Kim; Writing by Nick Macfie; Editing by Vicki Allen)

North Korea puts Rocket Units on Alert to ‘attack US’


The Telegraph
March 26, 2013
The announcement, carried by the KCNA state media, was in the name of the Supreme Command, which has attracted attention in South Korea because it is an emergency division of the government that is only operational during time of war.
In the announcement, North Korea said it would “show off our army and people’s stern reaction to safeguard our sovereignty and the highest dignity through military actions.”
The comments come a day after Kim Jong-un was again pictured visiting military units, watching exercises on the east coast involving troops storming ashore from hovercraft and artillery shelling targets.

Japan Now Wants Missile Shield Against North Korea


RTMarch 25, 2012
North Korea has announced it will launch a rocket next month, which will put a satellite into orbit. But the U.S. and its allies see the plans as counter to international diplomatic efforts to deal with the reclusive state’s nuclear programme – and are worried the technology could be used to develop long range missiles in the future. It could also potentially violate UN Security Council resolutions, and threatens last month’s deal between North Korea and the Washington. Under this, Pyonyang was to freeze its uranium weapons program and its long-range missile activities – in return for American food aid. Japan’s has responded by deploying its own missile defense system to shoot down any rocket threatening its territory. For more on this, RT talks to Executive Editor of Black Agenda Report, Glen Ford, from London.

South Korean bank run gathers steam

  

South Korean bank run gathers steam


•February 27, 2011 • 2 Comments



Domin Bank, a savings bank with a capital adequacy ratio below 5 percent, voluntarily decided yesterday to suspend its operations temporarily because of massive withdrawals, becoming the country’s eighth savings bank to close.
The decision took both depositors and financial regulators by surprise since it was the first time that a local bank shut its doors on its own.
Domin Bank, which has six branches in Gangwon, was placed on a watch list last week by the Financial Services Commission. The move triggered a bank run on Domin Bank.

According to Domin Bank, deposits amounting 31.8 billion won ($28.2 million) were withdrawn since last Thursday, including 18.8 billion won on Monday.
The news of Domin Bank’s temporary closure came as FSC Chairman Kim Seok-dong was visiting Mokpo, South Jeolla, where recently suspended Bohae Savings Bank is located.
“This savings bank was supposed to submit a management improvement plan to the FSC by Feb. 24,” said Kim. “We will now have to review whether [the closure] is even legally O.K.”
Bae Joon-soo, senior FSC deputy director, said, “I think it is legally and morally wrong for a financial firm to do such a thing.”
The financial regulator and the Federation of Savings Banks failed to persuade Domin Bank to resume its operation yesterday.
The bank in notices posted on the doors of every branch said that it had taken the move “as a means to soothe the crisis involving massive withdrawals.”
The notice continued, “We will resume operation after we are reborn as a sound savings bank by increasing our paid-in capital to achieve a capital adequacy ratio of 8 percent.”
Meanwhile, Woori Finance Holdings said it would provide emergency funds to Woolee Savings Bank after a bank run this week. The measure is aimed to “help relieve the bank’s liquidity shortage,” Woori said in the statement.
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oh?..you hadnt heard about that?..i see..no matter..continue on..its probably nothing..
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