Articles by Yonhap
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Gov't agencies discuss preparedness for Typhoon Krathon
The interior ministry held a meeting Sunday with relevant agencies to discuss preparedness for an approaching typhoon. Interior Minister Lee Sang-min presided over the meeting, where attending officials reviewed emergency plans and safety measures with Typhoon Krathon expected to affect the southern island of Jeju and other southern regions, plus the eastern province of Gangwon this week. The Korea Meteorological Administration said the typhoon will likely pass near Taipei on Wednesday with a ma
Social Affairs Sept. 29, 2024
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Banks' household loans inch down amid tightening efforts
Banks' household loans inch down amid tightening efforts Despite banks' move to tighten household lending, home-backed loans fell a mere 5 percent on-month in September from a record high level a month earlier, data showed Sunday. The daily average amount of new mortgages extended by five major lenders came to 301.8 billion won ($230.1 million) in Sept. 1-26, down 16 percent from the daily average logged in August, according to data from the banks. Excluding the three-day Chuseok holid
Economy Sept. 29, 2024
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S. Korea to showcase Hyunmoo-5 ballistic missile on Armed Forces Day ceremony for 1st time
South Korea will show off a new ballistic missile and other key weapons systems on the 76th founding anniversary of its armed forces this week, officials said Sunday, in an apparent warning against North Korea's provocations. The Hyunmoo-5, known to be able to carry a warhead weighing 8-9 tons, will be displayed during both the ceremony at Seoul Air Base in Seongnam, just south of the capital, and a military parade in downtown Seoul on Tuesday, according to the officials. "We showcased
Defense Sept. 29, 2024
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S. Korea, China FMs signal Yoon-Xi summit during APEC in November
The top diplomats of South Korea and China agreed to continue high-level meetings between the two countries on the margins of multilateral gatherings, the foreign ministry said Sunday, signaling a summit between President Yoon Suk Yeol and Chinese President Xi Jinping. Foreign Minister Cho Tae-yul and his Chinese counterpart, Wang Yi, reached the agreement as they met in New York on the sidelines of the UN General Assembly to discuss bilateral ties and security on the Korean Peninsula, according
Foreign Affairs Sept. 29, 2024
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Credit card loans hit record high this year: data
Credit card loans have risen sharply to reach an all-time high this year as banks have tightened lending and small businesses have suffered financial difficulties amid weak domestic demand, officials said. Loans extended by eight major credit card firms reached 44.67 trillion won ($34.05 billion) during the first eight months of 2024, surpassing the total amount for all of 2023, which stood at 41.55 trillion won, according to data from the Financial Supervisory Service and released by Rep. Kang
Economy Sept. 29, 2024
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FM champions multilateralism, stresses S. Korea's vision as 'global pivotal state'
South Korea's foreign minister has made a strong case for multilateralism to address global challenges through international cooperation, stressing that it has undergirded his country's democratic and economic rise. Foreign Minister Cho Tae-yul made the remarks at the UN General Assembly on Friday (New York time) as skepticism has deepened over the role of a deeply divided United Nations and other multilateral mechanisms in the midst of conflicts and humanitarian crises, including Russ
Foreign Affairs Sept. 28, 2024
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Blinken redoubles calls for pressing N. Korea, China, Iran to stop aid for Russia's war in Ukraine
US Secretary of State Antony Blinken reiterated calls Friday for joint efforts to press North Korea, China and Iran to stop providing support for Russia's war in Ukraine, stressing the need to bring a "just and lasting" peace in the war-torn country. Blinken made the remarks during a press conference, touching on various issues, including heightened tensions between Israel and the Iran-backed Lebanese militant group Hezbollah and the war between Israel and Hamas militants in Gaza.
North Korea Sept. 28, 2024
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4 in 10 illegal aliens entered S. Korea without visas last year: data
Four in 10 foreigners who illegally stayed in South Korea last year entered the country without visas and stayed beyond the visa-free period, data from the justice ministry showed Saturday. The number of illegal aliens in South Korea came to 423,675 as of the end of last year, accounting for 16.9 percent of the total foreigners staying in the nation, according to the data cited by Rep. Song Seong-jun of the ruling People Power Party. Of the illegal aliens, the number of those who arrived in Sout
Social Affairs Sept. 28, 2024
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S. Korea reiterates N. Korea's denuclearization amid IAEA chief's remarks
The South Korean government reiterated Friday that the denuclearization of North Korea remains a shared goal of the international community amid controversy surrounding the United Nations nuclear chief's remarks suggesting the world should recognize that Pyongyang possesses nuclear weapons. In an interview with the Associated Press, Rafael Grossi, director general of the International Atomic Energy Agency (IAEA), emphasized the importance of continuing to press North Korea to cease its
North Korea Sept. 27, 2024
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China’s biggest stock buying frenzy in years overwhelms exchange
Chinese equities capped their biggest weekly rally since 2008 with a burst of trading that overwhelmed the Shanghai stock exchange, underscoring a dramatic shift in investor sentiment after Xi Jinping’s government ramped up economic stimulus. In an echo of the rally that followed China’s massive stimulus during the global financial crisis, the CSI 300 Index of large-cap shares soared 4.5 percent on Friday — bringing this week’s gain to 16 percent. Trading activity was
World Business Sept. 27, 2024
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Trade ministers of S. Korea, China hold talks in Beijing
Trade Minister Cheong In-kyo met his Chinese counterpart and agreed to begin talks on services and investment under a bilateral trade deal this year, officials said Friday. The meeting between Cheong and Wang Shouwen, China's international trade representative, was held in Beijing earlier in the day, Seoul's trade ministry said. Seoul and Beijing implemented their bilateral FTA in December 2015 and held their first follow-up meeting in 2018 to broaden cooperation in the investment an
Foreign Affairs Sept. 27, 2024
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S. Korea pledges to maintain 'positive momentum' with Japan under Ishiba
South Korea on Friday pledged to continue its cooperation with Japan's incoming government in order to maintain "positive momentum," following the ruling party's election of former Defense Minister Shigeru Ishiba as leader, setting him up to become the country's new prime minister. "We will continue to work closely with the new Japanese cabinet to ensure the positive flow of South Korea-Japan relations," said a senior presidential official, who spoke on the c
World News Sept. 27, 2024
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Seoul shares close lower on profit taking despite US gains
Seoul shares closed lower Friday as investors took profit following strong gains in recent sessions despite overnight success on Wall Street. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index slipped 0.82 percent, or 21.79 points, to 2,649.78. Trading volume was moderate at 402.1 million shares worth 11.4 trillion won ($8.65 billion), with losers outnumbering winners 457 to 414. Institutions dumped a net 421.6 billion won worth of local shares, while
Market Sept. 27, 2024
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3.3 tr won to be invested annually in reforming tertiary care hospitals to focus on critical patients
The government plans to invest 3.3 trillion won ($2.5 billion) of its health insurance funding annually over the next five years to reform tertiary care hospitals to better prioritize the treatment of critically ill patients, the interior minister said Friday. Minister Lee Sang-min made the remarks during a government meeting in response to ongoing walkouts by medical doctors protesting the government's medical reform, which includes a significant increase in the nationwide medical school a
Politics Sept. 27, 2024
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Only 143 juvenile sex offenders sent to youth correction centers in 2023: data
Only 143 out of about 3,000 juvenile offenders found guilty of sexual crimes last year were sent to youth correction facilities, with a majority of them getting lighter punishment, Supreme Court data showed Friday. According to the Supreme Court's 2024 judicial almanac, a total of 3,701 teenagers were tried for sexual offenses last year and 2,963 of them were found liable for their crimes and given "protective dispositions" designed for reformation. Of those found guilty, only 4.8
Social Affairs Sept. 27, 2024
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