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Korea group offers up to 12% annual savings interest to boost births

Korea Federation of Community Credit Cooperatives Director Cho Bong-eop (2-L) poses with the first customer of its new savings product offering an annual interest rate of up to 12% at the organization’s office in Seoul on Friday. Photo by Korea Federation of Community Credit Cooperatives

SEOUL, April 10 (UPI) — The Korea Federation of Community Credit Cooperatives said Friday it launched a savings product that offers an annual interest rate of up to 12% in an attempt to boost childbirth.

The one-year installment savings product provides a base rate of 4%, which increases by steps to 12% depending on the number of the customer’s children. It is subject to a deposit limit, though.

For savers with a newborn in areas experiencing population decline, the country’s top apex organization said that the maximum 12% interest would be guaranteed regardless of the number of children.

“We have introduced dedicated financial products every year since 2023 in an effort to help address the low birth rate,” cooperative Director Cho Bong-eop said in a statement.

“As a community-based financial institution, we will keep fulfilling our social responsibilities by supporting vulnerable groups and revitalizing local economies, in addition to tackling the low birth rate,” he added.

South Korea has one of the world’s lowest fertility rates, which fell to 0.72 in 2023, according to Statistics Korea. The figure rebounded slightly to 0.75 in 2024 and 0.8 last year, still far below the replacement level of 2.1.

This means that for every 100 South Korean women, only 80 babies are expected to be born over their lifetimes, leading to a gradual population decline. The country’s population stands at 51.6 million.

To address the challenge, the Seoul government has funneled a huge amount of money over the past decades to little avail. In recent years, even private companies stepped in, providing bonuses and various benefits to employees who have a baby.

Last month, Statistics Korea reported nearly 27,000 births in January, the highest monthly figure in nearly seven years. However, the fertility rate still remained below 1.

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Pakistan offers ‘two-phased’ truce deal to end US-Israel war on Iran | US-Israel war on Iran News

Pakistan has proposed a two-stage plan to end the US-Israel war on Iran and reopen the Strait of Hormuz, with both sides now mulling the framework, a source has told the Reuters news agency.

Esmaeil Baghaei, spokesman for Iran’s Ministry of Foreign Affairs, on Monday acknowledged diplomatic efforts by Pakistan, which has shared a plan with Iran and the United States to end hostilities, according to Reuters.

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Baghaei added that Iran is focused on its security amid the latest attacks from the US and Israel.

A top university in Tehran and the South Pars Petrochemical Plant in Asaluyeh were bombed on Monday, killing at least 34 people in Iran.

Axios first reported on Sunday that the US, Iran and regional mediators were discussing a potential 45-day ceasefire as part of a “two-phased deal” that could lead to a permanent end to the war, citing US, Israeli and regional sources.

The source told Reuters that Pakistan’s army chief, Field Marshal Asim Munir, has been in contact “all night long” with US Vice President JD Vance, Special Envoy Steve Witkoff, and Iranian Foreign Minister Abbas Araghchi.

“All elements need to be agreed today,” the source said, adding the initial understanding would be structured as a memorandum of understanding finalised electronically through Pakistan, the sole communication channel in the talks.

Under the proposal, a ceasefire would take effect immediately, reopening the Strait of Hormuz, with 15 to 20 days given to finalise a broader settlement.

The deal, tentatively dubbed the “Islamabad Accord”, would include a regional framework for the strait, with final in-person talks in the capital of Pakistan.

The final agreement is expected to include Iranian commitments not to pursue nuclear weapons in exchange for sanctions relief and the release of frozen assets, the source said.

‘No reopening of Hormuz’

Tehran has responded by stating that it will not reopen the strait as part of a temporary ceasefire, a senior Iranian official told Reuters on Monday, adding that it will not accept deadlines as it reviews the proposal. Washington also lacks the readiness for a permanent ceasefire, the official said.

The US has not yet responded to Pakistan’s plan.

“Pakistan officials tell me that Islamabad is involved in ‘frantic diplomacy’, as they put it,” said Al Jazeera’s Osama Bin Javaid.

“The problem they’re facing, as one official put it, is essentially that it’s a schoolboy brawl that they are dealing with. It is egos that they have to manage, and it is also a sea of distrust over which they have to build bridges.”

One source told Javaid that Pakistan is speaking to Iran’s clergy, diplomats, and military commanders, but the level of distrust is still high.

“You heard the Iranian Foreign Ministry spokesman mention that they have come under attack multiple times by the US and Israel. And then, if there is some sort of rapprochement, if there is some sort of agreement, what are the guarantees that their leaders are not going to be targeted?” said Javaid.

US’s 15-point plan ‘illogical’, says Tehran

Baghaei, the Foreign Ministry spokesman, said on Monday that Tehran would never accept a 15-point plan put forward by the US last month. He stated that Tehran had finalised its demands amid recent proposals to end the war, but would reveal them only when appropriate.

He stressed that Iran would not bow to pressure, the IRNA news agency reported.

“A few days ago, they put forward proposals through intermediaries, and the 15-point US plan was reflected through Pakistan and some other friendly countries,” Baghaei said. “Such proposals are both extremely ambitious, unusual, and illogical.”

Baghaei underlined that Iran has its own framework.

“Based on our own interests, based on our own considerations, we codified the set of demands that we had and have,” he said.

The Foreign Ministry spokesman also rejected the idea that engaging with mediators signals weakness.

The latest diplomatic push by Pakistan comes amid escalating hostilities that have raised concerns over disruption to shipping through the Strait of Hormuz, a critical artery for global fuel supplies. More than 20 percent of the world’s oil and gas passes through the waterway, which remains under a de facto Iranian blockade.

Trump, in an expletive-laden post on Sunday, threatened to rain “hell” on Tehran if it did not make a deal by the end of Tuesday that would reopen the strait.

More than 2,000 people have been killed in Iran since the war began on February 28, according to Iranian authorities.

Israel has also invaded southern Lebanon and struck Beirut, where Lebanese authorities say 1,461 people, including at least 124 children, have been killed. More than 1.2 million Lebanese have been displaced.

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In major speech, Trump says Iran war will be over ‘shortly’ but offers little clarity

In his first formal address to the nation since launching a war on Iran more than a month ago, President Trump on Wednesday night repeated a familiar list of claimed successes — and brushed aside setbacks — while providing little clarity on a clear path to ending the conflict.

“We are going to finish the job, and we’re going to finish it very fast. We are getting very close,” the president said from the White House.

Trump said Iran is “no longer a threat,” yet spoke of potentially needing to escalate the conflict and increase bombings on Iran’s energy and oil infrastructure if it continues to fight back.

“If there is no deal, we are going to hit each and every one of their electric generating plants, very hard and probably simultaneously,” he said. “We have not hit their oil, even though that’s the easiest target of all, because it would not give them even a small chance of survival or rebuilding. But we could hit it, and it would be gone, and there’s not a thing they could do about it.”

Trump earlier this week said he expects to pull American forces from Iran within three weeks, and emphasized that the United States does not have to be in the Middle East but that it is only there to “help our allies.”

In his speech, Trump did not lay out a specific timeline for an exit strategy, but said the the U.S. is “on track to complete all of America’s military objectives shortly, very shortly.”

“We are going to hit them extremely hard over the next two to three weeks. We are going to bring them back to the Stone Ages, where they belong,” he said. “In the meantime, discussions are ongoing.”

He also repeated his assertions, made for weeks, that the U.S. has basically already defeated Iran and won the war, which he characterized as a “decisive, overwhelming victory.”

He also stressed that it is “very important that we keep this conflict in perspective,” before listing out — by month and day — the length of World War I, World War II, the Korean War, the Vietnam War and the Iraq War.

Prior to Wednesday night’s formal address, Trump had only spoken of the war — which U.S. and Israel launched against Iran on Feb. 28 — in less formal settings, during media gatherings and other public events.

The speech was a key messaging moment for the president, who, 33 days into the war, has struggled to clearly explain the scope and objectives of a conflict that has killed thousands of people in Iran and neighboring countries and disrupted global markets.

Trump repeatedly insisted that the U.S. is doing great, is “in great shape for the future,” and doesn’t need the oil that Iran has put a stranglehold on in the Strait of Hormuz, ignoring the clear effects of the war and those disruptions on the U.S., including on gas prices.

Those effects are already contributing to fractures within Trump’s base. Some have expressed frustration with the administration’s decision to enter a new conflict in the Middle East, concerns that could become a political liability for Republicans ahead of the high-stakes midterm elections in November.

In his remarks, Trump appeared to be speaking to those who have criticized him for deviating from his campaign promises by entering the war, saying he had promised to never allow Iran to have a nuclear weapon “from the very first day” he announced his first presidential campaign in 2015.

Trump has repeatedly downplayed the economic pressure the war has placed on Americans, including rising gas prices, arguing that the short-term financial strain is necessary for national security. He has also promised that gas prices will “come tumbling down” when the conflict ends.

“Gas prices will rapidly come back down,” Trump repeated on Wednesday. “Stock prices will rapidly go back up. They haven’t come down very much. Frankly, they came down a little bit, but they’ve had some very good days.”

Trump appeared less energetic during his evening speech than during some of his previous daytime events, where he has consistently maintained an upbeat tone about the war, while offering inconsistent accounts of what his administration aimed to achieve, or how long and what it would take to meet those objectives.

Those inconsistencies were evident even hours ahead of the address. In an interview with Reuters, he said he was not concerned about the enriched uranium held by Tehran — a statement that appeared to undercut a central justification for the war.

“That’s so far underground, I don’t care about that,” Trump said, adding that the U.S. military will be “watching it by satellite.”

In public remarks ahead of the address, Trump said the war was launched to prevent Iran from developing a nuclear weapon, but also that the U.S. had completely obliterated Iran’s nuclear capabilities months prior, in separate attacks over the summer. He also said he was worried about Iran’s enriched uranium, wanted the U.S. to take it, and would even consider sending U.S. forces inside Iran to collect it.

There have also been mixed messages about the U.S.’s intentions for Iran’s leadership since Iran’s Supreme Leader Ayatollah Ali Khamenei was killed at the start of the conflict, leaving a leadership vacuum that was filled by his son, Mojtaba Khamenei, a 56-year-old hard-line cleric who Trump initially called an “unacceptable choice.”

As Iran’s clerical rulers maintained a firm grip on the country, Trump administration officials, such as Secretary of State Marco Rubio, argued that U.S. war objectives had “nothing to do” with Iran’s leadership. But Trump in recent days has repeatedly talked about how “regime change” was achieved.

On Wednesday, Trump said a deal remained within reach with Iran’s new leaders, who he called “less radical and much more reasonable.”

Hours before Trump was to deliver his speech, Rubio posted a video which he began by saying, “Many Americans are asking, ‘Why did the United States have to attack Iran now?’” — an apparent acknowledgment that Trump’s own answers to that question in recent days may have failed to resonate.

Rubio also pushed another rationale for the war that the administration has floated on and off for the past month — saying Iran was building up an arsenal of missiles and drones to shield its nuclear ambitions, and that the war was the “last best chance” for the U.S. to eliminate those weapons capabilities before it was too late.

“We were on the verge of an Iran that had so many missiles and so many drones that nobody could do anything about their nuclear weapons program in the future,” Rubio said. “That was an intolerable risk.”

Others also tried to frame the war narrative Wednesday.

Prior to Trump’s speech, Iran President Masoud Pezeshkian issued a public letter denouncing what he described as “a flood of distortions and manufactured narratives” from the U.S., and arguing Iran is not a threat and has only ever defended itself against U.S. aggression.

He called on the American people to “look beyond the machinery of misinformation” from the Trump administration and reach their own conclusions about the war and its purpose, at one point echoing a question also being asked by some in Trump’s base: “Is ‘America First’ truly among the priorities of the U.S. government today?”

He noted Iran was in the midst of nuclear negotiations with the U.S. when the U.S. attacked it “as a proxy for Israel,” and accused U.S. leaders of committing a “war crime” by targeting Iran’s energy and industrial facilities.

“Exactly which of the American people’s interests are truly being served by this war?” he asked.

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Royal Caribbean ‘cancels multiple scheduled cruises for 2027’ & offers refunds to customers with already booked trips

The Royal Caribbean Freedom of the Seas cruise ship sailing from PortMiami, with people and palm trees in the foreground.

ROYAL Caribbean has reportedly canceled a number of scheduled cruises out of Miami this summer.

The cruise ship operator is said to have told guests with already booked trips they are eligible for full refunds if offered alternatives do not work.

The Royal Caribbean Freedom of the Seas cruise ship sets sail from PortMiami.
The Royal Caribbean Freedom of the Seas cruise ship sets sail from Port Miami on March 12Credit: Getty

In an email seen by Royal Caribbean Blog, the company tells customers: “As part of our ongoing itinerary planning process – which sometimes requires flexibility due to scheduling, port agreements, or operational needs, Freedom of the Seas will be redeployed for our Summer 2027 season.

“We know how much effort goes into planning your vacation and apologize for the inconvenience.”

It is understood the liners will be redeployed to Southampton in the United Kingdom.

A spokesperson for Royal Caribbean told The New York Post: “Freedom of the Seas will sail from Southampton for the 2027 summer season, reflecting the continued strength of the UK & Ireland market.

“The move represents an upsizing of capacity and brings a Freedom Class ship — long regarded as a favorite among British and Irish guests — back to the region.”

Upwards of 20 voyages on Freedom of the Seas between May and September are thought to have been moved.

The trips were scheduled to depart from Miami to the Bahamas, Aruba and Curaçao.

The decision comes just weeks after Carnival Cruise Line pulled the plug on 11 routes.

The scrapped trips were aboard Carnival Firenze, the line’s Italian-themed ship that sails from Long Beach, California in short runs. 

Carnival said the affected departures were scheduled between October 12, and November 16. 

The change in Caribbean’s schedule means customers have been invited to rebook on alternative sailings or claim full refunds.

The email to customers adds: “Regardless of the sailing length of the cruise you move to, if your booking was already paid in full and your cruise fare decreases, we’ll provide you with a refund for the difference.”

The Royal Caribbean Freedom of the Seas cruise ship sailing from PortMiami, with people and palm trees in the foreground.
Freedom of the Seas will be redeployed for the Summer 2027 seasonCredit: Getty

Latest cruise line news

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  • One trip was deemed the ultimate family cruise as it offers water roller coasters and a private island
  • Major US cruise operator suddenly cancels scheduled voyages and offers passengers full refunds

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Trump: Send ICE to do TSA work; Musk offers to pay salaries

March 21 (UPI) — President Donald Trump threatened to send U.S. Immigrations and Customs Enforcement agents to airports to cover for the Transportation Security Administration unless Democrats agree to Republican funding plans for the Department of Homeland Security.

On Truth Social, the president posted: “If the Democrats do not allow for Just and Proper Security at our Airports, and elsewhere throughout our Country, ICE will do the job far better than ever done before! The Fascist Democrats will never protect America, but the Republicans will.”

In an earlier post, he said ICE agents at airports “will do Security like no one has ever seen before, including the immediate arrest of all Illegal Immigrants who have come into our Country, with heavy emphasis on those from Somalia, who have totally destroyed, with the approval of a corrupt Governor, Attorney General, and Congresswoman, Ilhan Omar, the once Great State of Minnesota.”

Former acting ICE Director John Sandweg told The Washington Post that the threat is being used as a punishment.

“This is again an example, it seems to me, of the president seeking to utilize ICE in a way that achieves political goals, almost as a punishment,” Sandweg said. “The operations, to me, don’t seem to be designed to focus on public safety.”

The DHS, which includes TSA, shut down on Feb. 14 because Congress couldn’t agree on a funding bill for the department. Democrats don’t want to fund it until guardrails are put on the agency, and Republicans haven’t agreed to Democrats’ demands.

Because of this, TSA workers have been working without pay for more than a month. Some are quitting or taking days off work, creating long lines at airports.

Earlier on Saturday, billionaire Elon Musk offered to pay the TSA salaries during the shutdown.

“I would like to offer to pay the salaries of TSA personnel during this funding impasse that is negatively affecting the lives of so many Americans at airports throughout the country,” Musk said on X. Axios reported that based on TSA’s headcount, it would cost him more than $40 million per week. The White House didn’t respond to Musk’s offer.

Senate Democratic Leader Chuck Schumer, D-N.Y., on Saturday told Republicans to support a Democratic bill to fund TSA. He said airport delays have reached a “boiling point.”

“If you want TSA workers to get paid, then vote yes,” Schumer said on the Senate floor.

Sen. Patty Murray, D-Wash., said in a statement that Trump should focus on his own party.

“Surely, the next thing people want after waiting hours in long TSA lines is to get wrongfully detained by ICE,” she said. “Here’s an idea: instead of sidelining TSA agents and sending ICE to harass travelers, the president should tell Republicans to stop blocking our bill to pay TSA.”

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