President Yoon Suk Yeol said Friday that South Korea plans to return the favor it received from the international community during its economic development by hosting the 2030 World Expo in its southeastern city of Busan. Yoon made the remark during a National Day reception hosted by the South Korean Embassy in Paris, which was attended by around 500 people, including delegates to the Bureau International des Expositions (BIE), the body in charge of overseeing the World Expo. The 182 BIE mem

Politics Nov. 25, 2023

PARIS -- South Korean President Yoon Suk Yeol and French President Emmanuel Macron agreed Friday to strengthen cooperation on advanced technology and climate change issues, Yoon's office said. The two leaders reached the agreement during a breakfast and summit meeting at Elysee Palace, the official residence of the French president, as Yoon was in Paris to campaign for South Korea's bid to host the 2030 World Expo. Yoon and Macron discussed their countries' business cooperation

Foreign Affairs Nov. 24, 2023

The government will strengthen cooperation and information sharing with China to reduce fine dust pollution, Prime Minister Han Duck-soo said Friday. The plan, unveiled during a special committee meeting on the fine dust issue, is one of various measures the government plans to carry out to achieve its goal of reducing 108,000 tons of fine airborne particles. "We have set reducing fine dust as a major government project, and have focused pan-ministry capabilities on it. We will strengthen

Foreign Affairs Nov. 24, 2023

Seoul shares closed lower Friday, snapping a four-day winning streak, with no major guidance in the markets due to the Thanksgiving holiday in the United States. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index was down 18.33 points, or 0.73 percent, to close at 2,496.63. Trade volume was slim at 352.2 million shares worth 6.38 trillion won ($4.9 billion), with gainers outnumbering decliners 452 to 413. Institutions and individuals bought a combined 194

Market Nov. 24, 2023

Opposition leader Lee Jae-myung on Friday denounced North Korea's scrapping of a military tension reduction agreement with South Korea, expressing concern that tit-for-tat actions of both sides could lead to tensions getting out of control. The North effectively scrapped the 2018 agreement on Thursday, saying it will restore all military measures halted under the deal. The move came after the South suspended part of the agreement in protest of the North's successful launch of a militar

Politics Nov. 24, 2023

The top diplomats of South Korea, China and Japan will hold trilateral talks in the southeastern port city of Busan this weekend, Seoul's foreign ministry said Friday, amid fresh tensions after North Korea's launch of a military spy satellite. Foreign Minister Park Jin will meet with Chinese Foreign Minister Wang Yi and Japanese Foreign Minister Yoko Kamikawa on Sunday for broad discussions on ways to boost trilateral cooperation and other regional and global issues, Seoul's forei

Foreign Affairs Nov. 24, 2023

Seoul shares opened higher Friday, with no major guidance in the markets due to the Thanksgiving holiday in the United States on Thursday. The benchmark Korea Composite Stock Price Index rose 3.38 points, or 0.13 percent, to 2,518.34 in the first 15 minutes of trading. Market participants expected the Federal Reserve is near the end of its hiking cycle and rate cuts are likely in 2024. But the latest Fed minutes said officials have no intention to ease the monetary policy. In Seoul, large-cap st

Market Nov. 24, 2023

North Korean leader Kim Jong-un has lauded the country's successful launch of a military spy satellite as an eye-opening event of deploying a "space guard" monitoring enemies' military activities, state media reported Friday. Kim made the remark during his visit to the National Aerospace Technology Administration on Thursday, as he encouraged engineers and scientists who contributed to Tuesday's launch of the Malligyong-1, according to the Korean Central News Agency. &qu

North Korea Nov. 24, 2023

South Korea will play Japan, China and the United Arab Emirates in the Asian qualifiers for the 2024 Olympic men's football tournament next spring. South Korea will play out of Group B at the 2024 Asian Football Confederation U-23 Asian Cup, whose draw was held Thursday in Doha, the capital city of the tournament host, Qatar. There will be four groups of four countries. The top two teams from each group will advance to the knockout stage. The three best teams at the U-23 Asian Cup will punc

Soccer Nov. 23, 2023

A cold wave advisory will be issued for Seoul on Thursday as the temperature is forecast to fall sharply the following day, the weather agency said. The Korea Meteorological Administration said the cold wave advisory will take effect for all of Seoul at 9 p.m. Thursday, as the morning low is expected to drop by more than 10 degrees to minus 3 C on Friday. The advisory is issued when the morning low comes below minus 12 C for more than two consecutive days, or when the temperature drops more than

Social Affairs Nov. 23, 2023

Seoul shares closed higher Thursday, helped by foreign buying, while investors remain concerned about the Federal Reserve's future policy path. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index was up 3.26 points, or 0.13 percent, to close at 2,514.96. Trade volume was slim at 353.45 million shares worth 6.43 trillion won ($5 billion), with decliners outnumbering gainers 469 to 403. Foreigners bought a net 119 billion won worth of stocks, offsetting

Market Nov. 23, 2023

The United States regards South Korea's partial suspension of a 2018 inter-Korean military tension reduction agreement as a "prudent" and "restrained" response to North Korea's repeated violations of it, the State Department said Wednesday. South Korea suspended part of the Comprehensive Military Agreement on Wednesday in response to Pyongyang's launch of a space rocket Tuesday. North Korea said later that it will "never be bound" by it and deploy &qu

Defense Nov. 23, 2023

South Korea and Britain have forged a strategic partnership on official development assistance projects and other areas of sustainable growth, the financial ministry said Thursday. Finance Minister Choo Kyung-ho and Foreign Minister Park Jin participated in the signing ceremony of the Strategic Development Partnership with British Foreign Secretary David Cameron in London, according to the Ministry of Economy and Finance. The agreement was reached during President Yoon Suk Yeol's state visi

Politics Nov. 23, 2023

Seoul shares opened higher Thursday, following gains on Wall Street, with investors remaining concerned about the Federal Reserve's additional rate hikes to tame inflation. The benchmark Korea Composite Stock Price Index rose 3.11 points, or 0.12 percent, to 2,514.81 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.5 percent to 35,273.03, and the tech-heavy NASDAQ also added 0.5 percent to 14,265.86. There have been expectations that the Fed has nearly

Market Nov. 23, 2023

The UN nuclear watchdog chief has reported a "strong" water outflow from a reactor's cooling system at North Korea's key nuclear complex in Yongbyon, hinting at the possible test-running of the facility suspected to be designed to produce more fissile material for nuclear bombs. International Atomic Energy Agency Director General Rafael Grossi explained his agency's observation of the light water reactor at the nuclear complex, 100 kilometers north of Pyongyang, during t

North Korea Nov. 23, 2023