South Korean stocks started higher Friday as US economic data cemented bets the Federal Reserve will keep its key interest rate unchanged next week. The benchmark Korea Composite Stock Price Index rose 6.78 points, or 0.26 percent, to 2,579.67 in the first 15 minutes of trading. All three US stock indexes rallied Thursday (US time) as strong economic data, including retail sales and producer prices, fueled expectations over a pause in the Fed's rate hike march. Also, the US consumer price i

Market Sept. 15, 2023

South Korea's inflation is anticipated to begin slowing down next month amid lingering woes over soaring oil prices, the top economic policymaker said Friday. "This year, the country's consumer prices are continuing on a path of decline," Finance Minister Choo Kyung-ho said during a government meeting ahead of the Chuseok holiday. He said the country still needs to be vigilant as risks, including higher global crude prices, linger. The Dubai crude price, South Korea's be

Economy Sept. 15, 2023

The US Department of Defense warned North Korea Thursday that its arms support to Russia would not only prolong the war in Ukraine but also be tantamount to "directly" joining the killing of innocent Ukrainians. Deputy Pentagon spokesperson Sabrina Singh made the remarks after this week's summit between North Korean leader Kim Jong-un and Russian President Vladimir Putin raised the prospects of Pyongyang sending more ammunition to Russia for use in the war in Ukraine. "I thin

Foreign Affairs Sept. 15, 2023

VLADIVOSTOK, Russia -- North Korean leader Kim Jong-un's special train appears to be moving toward Russia's Far Eastern city of Khabarovsk on Thursday, a day after his rare summit with President Vladimir Putin, according to sources. According to the sources, Kim's olive green, bullet-proof train appears headed toward the Russian city of Komsomolsk-on-Amur, where he will visit an aircraft factory, following his meeting with Putin held Wednesday at the Vostochny spaceport where he

North Korea Sept. 14, 2023

South Korean stocks jumped more than 1.5 percent to hit a more than one-week high Thursday as investors were boosted by the latest US inflation data that would tone down the Fed's hawkish view on interest rates. The local currency increased against the US greenback. The benchmark Korea Composite Stock Price Index gained 38.19 points, or 1.51 percent, to finish at 2,572.89, the highest since Sept. 5, when the index finished at 2,582.18. Trading volume was moderate at 406.1 million shares wor

Market Sept. 14, 2023

The coast of Ulsan, a major industrial city in the southeast, was once a site where pods of gray whales were easily spotted, a scene that has become rare as marine pollution and whale hunts took a toll. Among the factors that made the whales disappear, the marine waste issue was what inspired Byun Eui-hyun, CEO of Usisan, to start a business to help clean up the ocean and save the endangered largest animal on Earth from dying from ingesting plastics. "We are the first plastic upcycling comp

Industry Sept. 14, 2023

Samsung Electronics Co. has finished installing four LED billboards at St. Peter's Square in the Vatican, where the Pope gives his weekly address. Samsung's billboards became operational in time for the Papal Audience, the general audience session held every Wednesday morning for Catholic followers and tourists visiting the revered sanctuary. A Samsung delegation visited the Vatican to meet Pope Francis on Wednesday morning to mark the installation, before meeting Cardinal Lazarus You

Industry Sept. 14, 2023

Dozens of lawmakers from the ruling and opposition parties were to depart for Tokyo on Thursday for an annual meeting with their Japanese counterparts. A total of 39 members of the South Korea-Japan Parliamentarians' Union are scheduled to meet with Korean residents in Japan later Thursday before attending the union's 44th joint conference with Japanese lawmakers Friday. They also plan to meet with Japanese Prime Minister Fumio Kishida on Friday. During the conference, the lawmakers pl

Politics Sept. 14, 2023

South Korean stocks started higher Thursday as concerns over a further rate hike by the Federal Reserve were eased despite higher-than-expected US inflation data. The benchmark Korea Composite Stock Price Index rose 12.99 points, or 0.51 percent, to 2,549.69 in the first 15 minutes of trading. The US consumer price index rose 3.7 percent in August from a year earlier due to high-flying oil prices. But analyst said the US central bank is expected to keep its key rate steady at the upcoming rate-s

Market Sept. 14, 2023

The US Department of State has approved a possible sale to South Korea of up to 25 F-35A radar-evading fighters and related equipment to help the East Asian ally maintain a "credible" defense capability, a government agency said Wednesday. The Defense Security Cooperation Agency under the Department of Defense made the announcement on the potential government-to-government Foreign Military Sale estimated to cost US$5.06 billion. "The proposed sale will improve the Republic of Kore

Defense Sept. 14, 2023

The United States is concerned about growing defense cooperation between North Korea and Russia, a National Security Council official said Wednesday, adding the US will take appropriate steps if necessary to counter any potential arms deal between the two countries. John Kirby, NSC strategic communications coordinator, underscored that Russian support for North Korea's illicit nuclear and ballistic missile programs would be of "significant concern" to the US. "In a similar fa

Foreign Affairs Sept. 14, 2023

North Korean leader Kim Jong-un on Wednesday pledged to throw his full support behind Russian President Vladimir Putin as the two isolated leaders held a rare summit at Russia's rocket launch facility, as concerns grow over a possible arms deal between Pyongyang and Moscow. Proposing a toast at an official dinner after the summit, Kim told Putin that the Russian army and people will triumph over "evil" forces, in apparent endorsement of its war in Ukraine. Kim said he was confid

North Korea Sept. 13, 2023

Two well-known authors of food-themed comic books representing Korea and Japan shared their opinion during a meeting in Seoul on Wednesday that the two Asian neighbors can get closer through each other's delicious food. Huh Young-man, known for the Korean comic book series "Sikgaek," and Masayuki Kusumi, author of the Japanese series "The Solitary Gourmet," met at a traditional Korean hanok house in central Seoul to casually talk about the food cultures of the two coun

Culture Sept. 13, 2023

Jurgen Klinsmann, beleaguered head coach of the South Korean men's national football team, is set to return to Seoul this week after a recent European trip following a last-minute schedule change, officials said Wednesday. The Korea Football Association (KFA) announced Klinsmann will return to South Korea with the rest of the home-based members of the national team Thursday afternoon. The Taegeuk Warriors played two friendly matches in Europe this month, with a goalless draw against Wales l

Soccer Sept. 13, 2023

South Korean Industry Minister nominee Bang Moon-kyu vowed Wednesday to expedite efforts to restore and further develop the ecosystem of the country's nuclear power generation industry to better achieve net-zero goals and energy security. During a parliamentary confirmation hearing, Bang also pledged efforts to boost exports amid unfavorable global business circumstances and to strengthen cooperation with the United States, Japan and other partners on stable supply chains in advanced indu

Politics Sept. 13, 2023