The United Nations Command said Friday it is monitoring the situation on the Korean Peninsula amid escalating tensions in the region, including the rearmament of North Korean soldiers in the Demilitarized Zone that separates the two Koreas. "The Joint Security Area remains a neutral ground for dialogue and de-escalation," the UNC said, noting its intent is to maintain "peace" and "security" in the area. The UNC added its mission has remained unchanged for 70 years

North Korea Dec. 1, 2023

South Korean stocks tumbled more than 1 percent Friday as semiconductor and battery shares took a cue from overnight losses in US heavyweights, like Nvidia and Tesla. The local currency sharply fell against the US greenback. The benchmark Korea Composite Stock Price Index lost 30.28 points, or 1.19 percent, to close at 2,505.01. Trading volume was moderate at 504 million shares worth 8.6 trillion won (US$6.59 million), with losers outpacing winners 489 to 386. Institutions and foreigners led the

Market Dec. 1, 2023

Ham Jeong-woo, the 2023 Player of the Year on the KPGA Korean Tour, will be among eight South Korean golfers teeing off at a qualifying tournament for a Saudi Arabia-backed renegade circuit this month. LIV Golf, financed by the Public Investment Fund, the sovereign wealth fund of Saudi Arabia, announced the field for the inaugural LIV Golf Promotions on Thursday. It said over 70 players representing 23 countries will compete at Abu Dhabi Golf Club in Abu Dhabi from Dec. 8-10, with the top three

Golf Dec. 1, 2023

Nine foreign players are among dozens of players not receiving a contract for next season in the top South Korean baseball league. The Korea Baseball Organization unveiled a list of 59 non-tendered players Thursday evening. Other than a handful of players in the group who have announced their retirements, non-tendered players immediately became free agents. Underachieving foreign players, including KT Wiz outfielder Anthony Alford, SSG Landers pitcher Kirk McCarty and NC Dinos pitcher Tanner Tul

Baseball Dec. 1, 2023

North Korean leader Kim Jong-un has called on the air force to enhance its combat posture to immediately respond to military threats by enemies, Pyongyang's state media reported Friday. Kim's remarks came amid fresh tension on the Korean Peninsula following the launch of a North Korean military spy satellite. South Korea partially suspended a 2018 inter-Korean military tension reduction deal in response to the satellite launch, condemned as a violation of U.N. Security Council resoluti

North Korea Dec. 1, 2023

The United States on Thursday sanctioned a North Korean cyber espionage group and eight foreign-based agents of the reclusive regime in response to Pyongyang's spy satellite launch last week, the Department of Treasury said. The department's Office of Foreign Assets Control added to its sanctions list KIMSUKY, a cyber incursion group, and the individuals who facilitated sanctions evasion to support the North's weapons of mass destruction programs, the department said. OFAC enforce

North Korea Dec. 1, 2023

South Korean stocks opened sharply lower Friday led by losses from chip and battery shares, bucking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index lost 24.49 points, or 0.97 percent, to fall to 2,510.8 in the first 15 minutes of trading. The US stocks continued their November rally on optimism that the Federal Reserve is set to end its hawkish mode. The Dow Jones Industrial Average jumped 1.5 percent, and the S&P 500 gained 0.4 percent. In Seoul, market bellw

Market Dec. 1, 2023

Prime Minister Han Duck-soo will preside over an extraordinary Cabinet meeting this week over proposals requesting President Yoon Suk Yeol exercise his veto power against four contentious bills unilaterally passed by opposition parties earlier this month, his office said Thursday. The meeting, scheduled for Friday, is expected to handle the motions asking Yoon to reject a pro-labor bill, commonly known as the "yellow envelope bill," and three other bills on broadcasting laws. The &

Politics Nov. 30, 2023

A tour program to the truce village of Panmunjom on the inter-Korean border has been suspended again as safety concerns increased due to North Korean soldiers armed with pistols in the Demilitarized Zone (DMZ) separating the two Koreas, the unification ministry said Thursday. The government partially resumed the tour program on Nov. 22, after it had been halted since mid-July following US Army private Travis King crossing the border into North Korea. But the ministry said it has recently decid

North Korea Nov. 30, 2023

South Korea's Trade Minister Ahn Duk-geun met with the US White House Deputy National Security Advisor Mike Pyle on Thursday for talks on lingering uncertainties regarding the Inflation Reduction Act (IRA) and other trade issues of mutual concerns, Seoul's industry ministry said. Ahn asked the US official to pay close attention to South Korean firms' concerns about the potential impact of the IRA, which provides tax credits of up to $7,500 to buyers of electric vehicles (EVs)

Economy Nov. 30, 2023

Foreign Minister Park Jin on Thursday said South Korea "gave its best" in its campaign to host the 2030 World Expo, after the southeastern city of Busan lost to Saudi Arabia's Riyadh in a vote earlier this week. Park made the remarks responding to reporters at the 5th International Conference on Action with Women and Peace in Seoul amid speculation he could be replaced in an upcoming reshuffle. "The government gave its best," Park said when asked whether he had heard any

Politics Nov. 30, 2023

A US diplomat in charge of public diplomacy will embark on a trip to South Korea, Indonesia and Japan this week to underscore Washington's "deep" commitment to its allies and partners in the Indo-Pacific, the State Department said Wednesday. During her Asia trip from Thursday to next Wednesday, Liz Allen, undersecretary of state for public diplomacy and public affairs, will stress the United States' efforts to reinforce and expand regional alliances and partnerships in the re

Foreign Affairs Nov. 30, 2023

South Korea's industrial output fell in October on a marked decline in the production of the semiconductor sector, data showed Thursday. Retail sales and facility investment also declined last month, and it was the first time in three months that the three major indicators on industrial activities logged an on-month fall, according to Statistics Korea. Industrial production dropped 1.6 percent on-month in October following two months of gains. It was the sharpest decline since April 2020, w

Economy Nov. 30, 2023

South Korean stocks started lower Thursday, as investors are waiting for the central bank's key rate decision later in the day. The benchmark Korea Composite Stock Price Index lost 7.98 points, or 0.32 percent, to 2,511.83 in the first 15 minutes of trading. In a rate-setting meeting, the Bank of Korea is widely expected to keep the rate unchanged at 3.5 percent. Major shares went south, with market bellwether Samsung Electronics falling 0.28 percent and LG Energy Solution, the second-bigge

Market Nov. 30, 2023

North Korea said Thursday the country's military spy satellite has taken photos of US military facilities in San Diego and Japan, as well as the Suez Canal in Egypt. Leader Kim Jong-un viewed the satellite photos taken Wednesday when he received an operations report from the Pyongyang General Control Center of the National Aerospace Technology Administration, according to the official Korean Central News Agency. The satellite took pictures of the San Diego Naval Base in California at 2:24 a

North Korea Nov. 30, 2023