Korea last year posted a current account surplus for the 21st straight year, the Bank of Korea said on Feb. 15. In its 2018 report on balance of payments, the central bank said the scale of the nation’s surplus reached USD 76.41 billion. The expansion of global trade volume and the semiconductor export boom helped Korea post record-high exports of USD 625.44 billion last year. Imports rose 10 percent year-on-year to USD 513.57 billion.

Korea’s smart city of the future will allow residents to save up to 124 hours a year, including 60 hours on the road, 20 hours in administrative transactions and five hours waiting for medical consultation at hospitals.  The Ministry of Land, Infrastructure and Transport and the Presidential Committee on the Fourth Industrial Revolution on Feb. 13 gave a presentation on the Busan Smart City Innovative Strategy at the Busan Exhibition and Convention Center (BEXCO) in Korea’s largest port city. Targeting the cities of Busan and Sejong, the plan will have construction begin this year and the cities opened from late 2021. 

Anticipation is rising over the second summit between North Korea and the U.S. slated for Feb. 27-28 in Hanoi, Vietnam, with an American daily saying President Moon Jae-in’s inter-Korean diplomacy will positively influence the upcoming talks.