South Korean shares fell as investors took to the sidelines ahead of key US data. The local currency lost ground against the US dollar. The benchmark Korea Composite Stock Price Index lost 16.37 points, or 0.61 percent, to close at 2,664.63. Trade volume was moderate at 291 million shares worth 8.8 trillion won ($6.56 billion), with gainers outnumbering losers 458 to 416. Foreign investors turned net sellers, offloading a net 287.5 billion won worth of shares, one day after they ended a six-day

Market Sept. 3, 2024

Around 30 South Korean nationals who stayed in Israel after attending a religious event have now left the country, officials said Tuesday. That means all South Korean travelers who were there for the same event have exited the region, where tensions have heightened following a series of missile and air strikes exchanged between Israel and the Lebanese militant group Hezbollah. The 30 people were among some 180 South Koreans who entered Israel last month to attend the event. Of them, 150 first de

Foreign Affairs Sept. 3, 2024

Former US President Donald Trump said in a soon-to-be-published book that his summitry with North Korean leader Kim Jong-un during his time in office showed "real change" was "indeed" possible, portraying it as "honest, direct and productive." The Republican presidential candidate made the remarks in the photo book, titled "Save America," reinforcing speculation that should he win the Nov. 5 general election, he could revive his personal diplomacy with the

Foreign Affairs Sept. 3, 2024

Six days after the dismissal of Min Hee-jin as CEO of their label, ADOR, members of the K-pop girl group NewJeans broke their silence on the issue, expressing concerns and emotional distress. "Since the CEO was dismissed, it's been difficult in many ways and we have a lot of concerns. For a while, I was in a state of mental breakdown and very anxious," member Danielle was quoted as saying on "Phoning," a dedicated mobile app for the group's fans, on Monday by indust

K-pop Sept. 3, 2024

North Korea is estimated to have earned more than $6 billion through hacking and other illicit activities over the past seven years despite facing heavy international sanctions, a state-run think tank report showed Tuesday. North Korea's income through illegal activities from 2017 to 2023, such as smuggling out coal, reached a total of $6.29 billion, according to the report from the Institute for National Security Strategy. The UN Security Council has imposed wide-ranging sanctions on North

North Korea Sept. 3, 2024

South Korean shares opened higher Tuesday, helped by large cap gains amid growing hopes for a US rate cut. The benchmark Korea Composite Stock Price Index added 12.33 points, or 0.46 percent, to 2,693.33 in the first 15 minutes of trading. The index has closed higher for two consecutive sessions, with a growing number of investors expecting the United States to start cutting interest rates as early as this month. The US Federal Reserve is set to hold its rate-setting meeting on Tuesday and Wedne

Market Sept. 3, 2024

South Korea opened their training camp Monday ahead of two World Cup qualifying matches coming up this month, as head coach Hong Myung-bo began his second tour of duty with the men's national team. South Korea will host Palestine at 8 p.m. Thursday at Seoul World Cup Stadium to begin Group B play in the third round of the Asian qualification for the 2026 FIFA World Cup. South Korea will then visit Muscat to play Oman on Sept. 10. These will be Hong's first two matches in his second t

Soccer Sept. 2, 2024

President Yoon Suk Yeol met with Fatih Birol, the chief of the International Energy Agency (IEA), on Monday, the president's office said, expressing gratitude for the agency's support of Seoul's Carbon-Free Energy (CFE) initiative. In September, Yoon introduced the CFE initiative during his keynote speech at the U.N. General Assembly, focusing on achieving carbon neutrality by leveraging carbon-free energy sources. Yoon acknowledged Birol's leadership and efforts to promote t

Politics Sept. 2, 2024

South Korean shares rose Monday, as investors bet on a US rate cut. The local currency slightly lost ground against the US dollar. The benchmark Korea Composite Stock Price Index added 6.69 points, or 0.25 percent, to close at 2,681.00. Trade volume was moderate at 262.5 million shares worth 8.5 trillion won ($6.35 billion), with losers outnumbering gainers 534 to 325. Foreign investors ended their six-day selling streak, purchasing a net 239 billion won worth of local shares, while institutions

Market Sept. 2, 2024

Health Minister Cho Kyoo-hong on Monday tried to soothe concerns about hospital emergency rooms, as some doctors have warned of a potential disruption of emergency care due to a prolonged walkout by trainee doctors. "Although there are some difficulties, we believe that emergency rooms are capable of maintaining operations," Cho told an SBS radio. "The issues extend beyond emergency rooms to follow-up treatments, which were present even before the walkout by the medical community,

Politics Sept. 2, 2024

South Korean stocks opened lower Monday with most large caps in negative terrain. The benchmark Korea Composite Stock Price Index shed 7.73 points, or 0.29 percent, to 2,666.58 in the first 15 minutes of trading. The index had dipped more than 1 percent Thursday on reports of worse-than-anticipated performance by artificial intelligence giant Nvidia, before slightly rebounding on bargain hunting the following day. US stocks closed higher Friday on growing hopes of a US rate cut, with the US Fede

Market Sept. 2, 2024

South Korea and Japan have been in last-minute arrangements for the agenda of Japanese Prime Minister Fumio Kishida's visit, a senior official at the office of President Yoon Suk Yeol said Sunday. "Final arrangements on the itinerary and agenda are being discussed," the senior presidential official told reporters, without providing further details. Japan's Kyodo News earlier reported Kishida was considering holding summit talks with Yoon in South Korea in early September befo

Politics Sept. 1, 2024

President Yoon Suk Yeol will not attend the opening ceremony of the regular session of the National Assembly early this week, a presidential official said Sunday, citing the opposition party's unilateral actions to pass critical bills. The National Assembly is set to begin its regular session on Monday and it is customary for the president to attend the opening event and deliver a speech. "It is appropriate to first normalize the National Assembly, which has been misusing special couns

Politics Sept. 1, 2024

YEONGAM, South Korea -- One person died and four others were injured Sunday in an apparent act of arson at a game hall in the southwestern county of Yeongam, police and fire authorities said. The fire was put out 20 minutes after a report was filed at 1:29 p.m. but a Chinese national was found dead, they said. One of the four employees and visitors who suffered injuries was reportedly in a critical condition. A preliminary probe showed that the Chinese national allegedly started the fire and tha

Social Affairs Sept. 1, 2024

Banks in South Korea started tightening curbs on mortgage loans on Sunday, officials said, amid concerns over rising housing prices in Seoul and household debts. The move came as the Financial Services Commission asked banks to toughen screenings for new mortgage borrowers and to reduce the size of loans available under the tightened criteria. The stress debt service ratio (DSR), which measures how much a borrower has to pay for principal and interest in proportion to their yearly income, serves

Economy Sept. 1, 2024