WASHINGTON -- The United States on Friday underscored its commitment to finding the "best" way to secure "timely, accurate and unbiased" reporting on noncompliance with North Korea-related UN Security Council resolutions as a key sanctions monitoring panel was disbanded four months ago. A State Department spokesperson made the remarks amid ongoing efforts among the US, South Korea, Japan and other countries to find an alternative to the UN expert panel whose mandate expired

Foreign Affairs Aug. 31, 2024

WASHINGTON -- Three senators from Rust Belt states have called on the US government to reduce the import quota for South Korean metal products used in the production of oil and gas, saying the reduced demand and high levels of Korean imports are affecting American companies and workers. Senators Sherrod Brown (D-OH), Bob Casey (D-PA), and John Fetterman (D-PA) wrote a letter to Commerce Secretary Gina Raimondo and US Trade Representative Katherine Tai on Thursday, taking issue with the quota f

Foreign Affairs Aug. 31, 2024

South Korea and the United States will hold vice-ministerial talks in Washington next week on deterrence efforts against North Korea's nuclear and missile threats, Seoul's foreign ministry said Friday. The fifth meeting of the Extended Deterrence Strategy and Consultation Group will take place Wednesday (local time), with a focus on assessing the progress on the allies' efforts to deter North Korea's military threats, the ministry said in a release. The talks will also addres

North Korea Aug. 31, 2024

Rifle shooter Lee Yun-ri won silver in the women's 10-meter air rifle standing event Friday for South Korea's first medal of the Paris Paralympics. Lee finished in second place with 246.8 points at the Chateauroux Shooting Centre in Chateauroux, south of Paris. Avani Lekhara of India won the gold medal with 249.7 points, and Mona Agarwal of India won bronze with 228.7 points. Lee led Lekhara by 0.8 point with one shot remaining but hit a 6.8 to hand the gold medal to the Indian athlete

More Sports Aug. 30, 2024

The top South Korean sports body on Friday upheld an earlier ban on a female figure skater over allegations she had sexually harassed an underage male teammate, rejecting her claims that she couldn't have harassed him because they were in a romantic relationship. The Fair Play Commission at the Korean Sport & Olympic Committee confirmed the three-year ban issued by the Korea Skating Union in June on Lee Hae-in, the women's singles silver medalist at the 2023 world championships. Th

More Sports Aug. 30, 2024

South Korean shares finished higher Friday as investors picked up tech, energy and other blue chip bargains following losses the previous session. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index gained 12.03 points, or 0.45 percent, to close at 2,674.31. Trade volume was moderate at 266.9 million shares worth 9.71 trillion won ($7.27 billion), with winners outnumbering losers 580 to 292. Institutions bought a net 47.8 billion won worth of shares, wh

Market Aug. 30, 2024

South Korea's tax revenue fell 8.8 trillion won ($6.59 billion) from a year earlier over the first seven months of 2024, due to the lackluster corporate earnings, data showed Friday. The government collected 208.8 trillion won of taxes over the January-July period, down 4 percent from the same period last year, according to the data from the Ministry of Economy and Finance. In July alone, however, the country's total tax revenue increased 1.2 trillion won from a year earlier, reaching

Economy Aug. 30, 2024

South Korean shares opened higher Friday as investors picked up tech, auto and other blue chip bargains following losses the previous session. The benchmark Korea Composite Stock Price Index (Kospi) gained 13.53 points, or 0.51 percent, to 2,675.81 in the first 15 minutes of trading. Overnight, US stocks ended mixed after experiencing rollercoaster-like volatility amid differing views on Nvidia's earnings, with some expressing disappointment while others saw the results as alleviating uncer

Market Aug. 30, 2024

South Korea's industrial output fell for the third consecutive month in July due to sluggish production in the semiconductor and automobile sectors, data showed Friday. Industrial output decreased 0.4 percent on-month in July, following a 0.1 percent drop the previous month, according to data compiled by Statistics Korea. Compared with a year earlier, however, industrial output increased 2.7 percent in July, the data showed. "While industrial output has decreased for three consecutive

Economy Aug. 30, 2024

Savings banks in South Korea saw their combined net loss widen in the first half from a year earlier, due largely to a sharp increase in loan-loss reserves set aside for real estate project financing (PF) loans, data showed Friday. The banks posted a combined net loss of 380.4 billion ($284.5 million) in the January-June period, sharply up from a net loss of 96.5 billion won over the same period last year, according to the data from the Financial Supervisory Service. Their interest income came t

Economy Aug. 30, 2024

Sam Smith released a new version of his smash-hit title "I'm Not The Only One" featuring K-pop star Taeyeon as a project for the 10th anniversary of his debut album, his label said Thursday. "I'm Not The Only One" is a track on the British pop star's debut album, In The Lonely Hour, released in 2014. Taeyeon, a member of K-pop girl group Girls' Generation, participated in the 10th anniversary edition of the song, singing parts of the song in Korean, acco

K-pop Aug. 29, 2024

LG said Thursday it will buy a combined 500 billion won ($375.9 million) worth of stake in its home appliances and chemical units from November as part of efforts to increase their corporate value. LG plans to purchase 200 billion won worth of shares in LG Electronics and 300 billion won worth of shares in LG Chem on two occasions, the company said in a regulatory filing. If the purchase is completed, LG's stake in LG Electronics will increase to 31.59 percent from 30.47 percent, and inte

Companies Aug. 29, 2024

Samsung Electronics and its labor union are likely to resume their talks over a wage increase and others in early October at the earliest, industry sources said Thursday. Early this month, members of the National Samsung Electronics Union, the largest labor union of the South Korean tech giant, returned to work as they have held several rounds of talks since January but have been unable to narrow their differences over the wage increase rate, vacation system and bonuses. The NSEU, representing

Companies Aug. 29, 2024

President Yoon Suk Yeol approved the appointment of Kim Moon-soo as new labor minister Thursday, his office said, as the opposition bloc strongly denounced Kim's view about the Japanese colonial rule. Kim, former head of the presidential Economic, Social and Labor Council, was nominated by Yoon for new labor minister late last month. During Monday's parliamentary confirmation hearing, Kim said Koreans during Japan's 1910-45 colonial rule were regarded as Japanese nationals, stic

Politics Aug. 29, 2024

Girl group Le Sserafim returned Thursday with its fourth EP, titled "Crazy," urging listeners to pour their passion into whatever makes their hearts race. "Crazy" marks the K-pop quintet's new release six months after its third EP, "Easy," which was released in February. The band made its debut on the coveted Billboard Hot 100 with the album's main track. "The new album's message is simple and clear: Let's go crazy with Le Sserafim,"

K-pop Aug. 29, 2024