PULLS

Jan. 20 (Asia Today) — Bank deposits in South Korea are falling sharply as investors shift cash toward the stock market during the KOSPI’s rally, raising concerns in the financial sector about an accelerating “money move,” industry data showed Tuesday.

Demand deposits at the five major banks – KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank and NH Nonghyup Bank – totaled 673.9145 trillion won ($455.6 billion), down 4.99% from the end of last month, a decline of 35.3973 trillion won ($23.9 billion), the financial sector said.

Time deposits also edged lower, slipping to 938.2555 trillion won ($634.3 billion) from 939.2863 trillion won ($635.0 billion) in December.

Market participants attributed the outflows to a shift into securities-related cash, including investor deposits – standby funds used directly for stock purchases – and cash management accounts.

Investor deposits rose to 91.2182 trillion won ($61.7 billion) as of Friday from 77.912 trillion won ($52.7 billion) at the end of November, the data showed. Cash management account balances climbed to 102.9779 trillion won ($69.6 billion) from 98.0722 trillion won ($66.3 billion) over the same period.

The increase in investor deposits has tracked the KOSPI’s gains, the report said. Investor deposits hovered near 60 trillion won ($40.6 billion) in June last year when the index was around 2,000, then topped 80 trillion won ($54.1 billion) on Oct. 13. As the KOSPI resumed a steady rise in January and touched 5,000, investor deposits moved above 90 trillion won ($60.8 billion), reaching 92.8537 trillion won ($62.8 billion) on Jan. 8.

Banks revived deposit products paying interest in the 3% range in the second half of last year, but they are facing competition from alternatives such as integrated investment accounts known as IMAs, introduced in December, the report said.

The IMA products are marketed as offering principal protection if funds are held to maturity while targeting returns above 4%, the report said. About 220 billion won ($149 million) flowed into one product on its first day, it added.

A banking industry official said the reappearance of 3% deposit products reflects an attempt to respond to the money move. The official said the decline in time deposits remains modest, but banks are monitoring the trend closely.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Army says its forces are working to remove mines and other war remnants as they continue advancement.

ACTRESS Sophie Turner looks incredible in new snaps as we get a first look at her transformation into Lara Croft amid the Tomb Raider reboot.

The Game of Thrones star looked exactly like the legendary video game character as she posed in a pair of black hotpants and a green vest top.

Stunning Sophie flaunted her toned arms as she made her debut as Lara Croft.

The actress donned the classic gun holsters around her thighs and she looked FIERCE.

Filming for the new Prime live action series is thought to be commencing this month after it was greenlit in May 2024.

The 29-year-old Aussie supermodel is the latest star to take on the huge role of Lara, an archaeologist and adventurer.

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A-lister Angelina Jolie previously played the 1996 video game character in two films and Alicia Vikander took on the job for one.

The X-Men icon is set to star alongside Martin Bobb-Semple, Sigourney Weaver, Jason Isaacs, Jack Bannon, John Heffernan, Paterson Joseph, Sasha Luss, and August Wittgenstein.

Celebrity Traitors’ Celia Imrie has always been named in the cast list.

Amazon Prime‘s Tomb Raider will be directed and produced by Jonathan van Tulleken – famed for his work on BAFTA winning series Top Boy.

Sophie was recently rumoured to be dating Coldplay frontman, Chris Martin after reports emerged.

The pair were entangled in rather high profile splits last year.

Chris, 48, and Dakota Johnson ended things after eight years while Sophie split with super posh man Peregrine ‘Perry’ Pearson in September.

A source told the Mail: “Their relationship has been over for a long time, they just haven’t been able to figure out to make it official. Dakota held a flame for them to be together because she loved him so much and loved his kids so much.“

According to reports Chris and Sophie had been “secretly dating” and their first meeting came just one week after the actress became single.

Tomb raider was first released as a video game and Lara Croft quickly became a fan favourite.

There have since been 20 Tomb Raider games released.

Residents start returning to areas previously controlled by SDF fighters after their withdrawal from the city.

Syrian government forces have been carrying out security sweeps in the city of Aleppo after days of battles with the Syrian Democratic Forces (SDF).

As some residents displaced by the fighting began returning to their areas, army forces on Monday were working to remove explosive devices and weapons in other parts.

The operation comes after the last SDF fighters left Aleppo on Sunday following a ceasefire deal that allowed evacuations from the Ashrafieh and Sheikh Maqsoud neighbourhoods to parts of northeastern Syria, where the Kurdish-led forces run a semi-autonomous zone.

The intense fighting that erupted last week was linked to stalled negotiations over the integration of Kurdish-run institutions and SDF fighters into the Syrian state following an agreement reached between both sides in March last year.

Residents of Ashrafieh, the first of the two neighbourhoods to fall to the Syrian army, began returning to their homes to inspect the damage, finding shrapnel and broken glass littering the streets on Sunday.

“Most people are returning to Ashrafieh, and they have begun to rebuild as there has been a lot of destruction,” said Al Jazeera’s Bernard Smith, reporting from Aleppo.

He added that this was not the case for Sheikh Maqsoud, where government forces were still searching for explosives.

Smith added that Syrian forces were also looking for opposition prisoners arrested by the SDF during the rule of former leader Bashar al-Assad, who was overthrown in December 2024 by forces led by the incumbent, Ahmed al-Sharaa.

Deadly clashes

SDF leader Mazlum Abdi said on X the fighters were evacuated “through the mediation of international parties to stop the attacks and violations against our people in Aleppo”.

Abdi, in his statement, called on “the mediators to abide by their promises to stop the violations”.

US envoy Tom Barrack met al-Sharaa on Saturday and afterwards issued a call for a “return to dialogue” in accordance with the integration agreement.

The departure of the fighters marks the removal of SDF from pockets of Aleppo, which it has held since Syria’s war began in 2011.

“Even though the SDF has been bussed to its stronghold in northeastern Syria, this has still played out well for the government in Damascus,” said Al Jazeera’s Ayman Oghanna, reporting from the capital, calling it a “strategic victory” for Syria’s new leadership.

Still, he added, the government has been eager to promote a message of national unity. “They call the events in Aleppo a limited law enforcement operation, instead of open war with the SDF, so they’re really pushing for the integration and unity for Syria.”

Syrian health authorities said on Sunday at least 24 civilians have been killed and 129 wounded in SDF attacks since Tuesday.

Munir al-Mohammad, media director at Aleppo’s health directorate, said the casualties were caused by repeated attacks targeting civilian areas, according to Syria’s official SANA news agency.

The United Kingdom-based monitor, Syrian Observatory for Human Rights, which follows the developments in Syria through a network of sources on the ground, reported 45 civilians were killed along with 60 soldiers and fighters from both sides.

Jan. 1 (UPI) — The Italian government said Thursday that the United States has pulled back on tariffs the Trump administration had placed on several pasta brands based in Italy.

The U.S. Department of Commerce reduced tariffs on 13 Italian pasta brands, rolling back levies that had been announced as the administration alleged that the companies had been trying to undercut U.S. manufacturers, CBS News and The Financial Times reported.

The tariffs, which were originally announced as 92% on brands that include Barilla, La Molisana and Pastificio Lucio Garofalo, would have nearly doubled their cost.

With the rollbacks, the brands will only carry a 2% to 14% tariff: La Molisana will see a 2.26% tariff, Garofalo will see a 13.98% tariff and the other 11 companies will face a 9.09% tariff.

After a preliminary review of the companies’ operations revealed that they had not been trying to undercut the price of U.S. manufactured pasta.

“The recalculation of the duties is a sign that U.S. authorities recognize our companies’ constructive willingness to cooperate,” the Italian foreign ministry said of the shift.

According to a business association in Italy, the tariffs would have affected about half of the pasta that is typically shipped to the United States.

In 2024, roughly $788 million of pasta was imported from Italy to the United States.

Over the course of 2025, the Trump administration introduced high tariffs on a wide range of products — from food and clothes to furniture and kitchen cabinets — but many have been rolled back or canceled as officials have negotiated with other countries’ officials or, such as in the case of Italian pasta, consumers were primed to see significantly increased costs.