Articles by Yonhap
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Seoul shares rise 1% on tech, financial gains despite overnight US losses
South Korean stocks closed higher Friday as investors purchased tech and financial blue chips despite overnight losses on Wall Street. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 27.71 points, or 1.05 percent, to 2,656.33. Trade volume was moderate at 443 million shares worth 9.93 trillion won ($7.21 billion). Winners outpaced losers 460 to 405. Institutions and foreign investors combined bought a net 537 billion won, while retail investors unl
Market April 26, 2024
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DP leader says he will meet Yoon without conditions
Main opposition leader Lee Jae-myung said Friday he will meet with President Yoon Suk Yeol without preconditions, after the two sides struggled unsuccessfully to set the agenda for what would be their first-ever talks since Yoon came into office. Yoon proposed a meeting in a phone call with Lee last Friday, after the ruling People Power Party was routed in the April 10 parliamentary elections, leaving the National Assembly under the control of Lee's Democratic Party. Details of the meeting,
Politics April 26, 2024
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Seoul shares open higher on tech, financial gains
South Korean stocks opened higher Friday as investors purchased techs and financials despite overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index rose 20.16 points, or 0.77 percent, to 2,648.78 in the first 15 minutes of trading. Overnight, Wall Street lost ground as Meta and other big tech companies retreated as the US economy expanded at a sharply slower-than-expected pace in the first quarter. The S&P 500 dropped 0.5 percent, and the tech-heavy Nasdaq shed 0.6
Market April 26, 2024
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Ship linked to NK arms shipments to Russia is moored in China: State Dept.
A Russian vessel, reportedly implicated in North Korea's arms transfers to Russia, is moored in China, a State Department spokesperson said Thursday, adding to speculation about Beijing's support for Moscow's war efforts in Ukraine. The spokesperson made the remarks as Secretary of State Antony Blinken is currently in China, where he plans to discuss with senior Beijing officials a range of regional and global issues, including the war in Ukraine and North Korean threats. Citing B
North Korea April 26, 2024
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
South Korea fell to Indonesia 11-10 on penalties to be eliminated from the Olympic men's football qualifiers in Qatar on Thursday, unable to grab a ticket to Paris after losing their best scorer and head coach in the second half. Indonesia's 12th kicker Pratama Arhan scored after Lee Kang-hee was denied by Ernando Ari in the nailbiting shootout in the quarterfinals of the Asian Football Confederation U-23 Asian Cup at Abdullah bin Khalifa Stadium in Doha. This tournament doubles as the
Soccer April 26, 2024
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Aides fail to coordinate agenda for Yoon-Lee meeting
Aides to President Yoon Suk Yeol and opposition leader Lee Jae-myung held their second meeting Thursday to coordinate the agenda for what would be the first-ever meeting between Yoon and Lee, but failed to reach an agreement, both sides said. Yoon proposed the meeting in a phone call with Lee last Friday, after the ruling People Power Party was routed in the April 10 parliamentary elections, leaving the National Assembly under the control of Lee's Democratic Party (DP). Thursday's prep
Politics April 25, 2024
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Overdue wages for migrant workers average 6.63 mln won: survey
Overdue wages for migrant workers averaged 6.63 million won ($4,825), a survey conducted by the state human rights watchdog showed Thursday. The survey, which was conducted on 379 migrant workers who are currently working in the country or have worked here for over a year, also showed the average number of times wages were overdue was 1.09, according to the National Human Rights Commission of Korea. By amount, 34.4 percent of the respondents said they were due between 1 million won and 3 million
Social Affairs April 25, 2024
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Seoul shares dip 1.76 % over tech, battery slump
South Korean stocks plummeted more than 1.7 percent Thursday as investors sought profits following the previous session's sharp rise amid mixed overnight results on Wall Street. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index slumped 47.13 points, or 1.76 percent, to 2,628.62. Trade volume was slim at 304 million shares worth 8.72 trillion won ($ 6.35 billion), with losers outpacing winners 487 to 360. Institutions and foreign investors combined so
Market April 25, 2024
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N. Korea warns of 'practical actions' over US seeking new mechanism to monitor sanctions
North Korea on Thursday decried the United States over efforts to build a new mechanism for the monitoring of sanctions enforcement against the North and warned of "powerful practical actions" to build up its military strength. The US has pledged to work with South Korea and other countries to establish an alternative with the mandate of a UN expert panel monitoring sanctions enforcement that's set to expire at the end of April following Russia's veto to extend it last month.
North Korea April 25, 2024
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Senior officials from S. Korea, US discuss cooperation in chip industry
Senior trade officials from South Korea and the United States have discussed ways to broaden cooperation in the semiconductor sector, officials said Thursday. Deputy Minister for Trade Yang Byeong-nae met with his US counterpart, Ramin Toloui, in Seoul earlier in the day during which Yang asked Toloui to offer sufficient support for South Korean firms seeking to invest in the US Last week, the US government revealed a plan to grant Samsung Electronics Co. up to $6.4 billion to support its chipma
Industry April 25, 2024
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Seoul shares open weaker on tech, battery slump
South Korean stocks opened weaker Thursday as investors sought profits following the previous session's sharp rise amid mixed overnight results on Wall Street. The benchmark Korea Composite Stock Price Index fell 26.04 points, or 0.97 percent, to 2,649.71 in the first 15 minutes of trading. On Wednesday, the main index spiked nearly 2 percent, backed by chipmakers and batterymakers. Overnight, Wall Street closed mixed as a disappointing earnings report from Meta Platforms put investors on e
Economy April 25, 2024
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
The United States will take steps "in time" to have three-way engagements on nuclear deterrence with South Korea and Japan, a senior US diplomat said Wednesday, reiterating America's "firm" security commitment to the Asian allies. Deputy Secretary of State Kurt Campbell made the remarks, noting ongoing efforts to ensure the credibility of the US' "extended deterrence" commitment through bilateral platforms with the allies in the face of shared challenges,
Foreign Affairs April 25, 2024
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Landers slugger Choi Jeong becomes new KBO career home run leader
SSG Landers slugger Choi Jeong is the new home run king in South Korean baseball. Choi launched his 468th home run off Lotte Giants starter Lee In-bok at Sajik Baseball Stadium in the southeastern city of Busan on Wednesday, passing former Samsung Lions star Lee Seung-yuop on the all-time home run list in the Korea Baseball Organization. With the Landers trailing 7-4, Choi came up with two outs in the top of the fifth inning for his third plate appearance. Choi drilled a first-pitch slider and s
Baseball April 24, 2024
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NewJeans fans send protest truck against agency chief in conflict with Hybe
Some fans of girl group NewJeans staged a protest outside the building of K-pop giant Hybe in Seoul on Wednesday, deploying a "protest truck" to voice their grievances against the chief of its sub-label in an escalating conflict with the parent company. "Min Hee-jin should no longer use NewJeans and its family," blared an electronic billboard mounted on the truck sent by the members of Bunnies, the group's fandom. Min is the CEO of ADOR. Other messages repeatedly flashed
K-pop April 24, 2024
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Seoul shares jump 2% on rally in techs, batteries
South Korean stocks soared 2 percent Wednesday as tech, secondary battery and other market heavyweights rallied following overnight gains on Wall Street. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index climbed 52.73 points, or 2.01 percent, to 2,675.75. Trade volume was moderate at 319 million shares worth 10.06 trillion won ($7.34 billion). Winners outpaced losers 610 to 270. Institutions and foreign investors combined bought a net 855.3 billion won, w
Market April 24, 2024
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