South Korea's import prices rose by the largest margin in six months in October due to rising global oil prices and the weak Korean currency, central bank data showed Tuesday. The import price index advanced 2.2 percent last month from a month earlier, snapping two months of drops, according to the preliminary data from the Bank of Korea. The figure marked the highest on-month increase since April when the prices jumped 3.8 percent. From a year earlier, import prices fell 2.5 percent foll

Economy Nov. 13, 2024

The United States confirmed Tuesday that North Korean troops, who have been deployed to Russia's western front-line Kursk region, have begun engaging in combat operations against Ukrainian forces. Vedant Patel, principal deputy spokesperson for the State Department, made the remarks amid growing concerns that the North's troop deployment could expand Moscow's protracted war in Ukraine with security implications for both Europe and the Indo-Pacific region. "We are incredibly

Foreign Affairs Nov. 13, 2024

The secretary general of South Korea's presidential advisory body on unification said Tuesday that North Korea would not engage in dialogue with the US as long as it is being paid by Russia for its troop deployment and other forms of military cooperation. Tae Yong-ho, the secretary general of the Peaceful Unification Advisory Council, made the remarks amid expectations that US President-elect Donald Trump could revive his personal diplomacy with North Korean leader Kim Jong-un after he ta

Politics Nov. 13, 2024

South Korean stocks opened bearish Wednesday amid a continued slide of the Korean won and uncertainties surrounding the new Trump administration's policies. The Korean won continued to slide against the US dollar, hovering above the psychologically important level of 1,400 won. The benchmark Korea Composite Stock Price Index fell 11.46 points, or 0.46 percent, to 2,471.11 in the first 15 minutes of trading. In Seoul, top tech giant Samsung Electronics fell 1.7 percent, while No. 2 chipmaker

Market Nov. 13, 2024

A Seoul court on Tuesday granted an injunction sought by figure skater Lee Hae-in to pause a three-year ban issued by the national skating federation over sexual harassment charges. The Seoul Eastern District Court sided with Lee, who is now eligible to compete. Lee, the 2023 world silver medalist, was suspended for three years by the Korea Skating Union (KSU) in June, with the Korean Sport & Olympic Committee (KSOC) confirming it two months later, over an incident that took place during a n

More Sports Nov. 12, 2024

The incumbent South Korean Olympic chief Lee Kee-heung was granted an opportunity to run for a third term on Tuesday, despite the cloud of a recent government-issued suspension looming large over his head. The Commission for Fair Play in Sport at the Korean Sport & Olympic Committee (KSOC) approved Lee's application to run for a third term as head of the KSOC on Jan. 14, 2025. Lee, 69, was first elected to the top KSOC post in September 2016 and won reelection in 2021. Per KSOC statutes

More Sports Nov. 12, 2024

South Korean shares dipped to the lowest in over three months on Tuesday, as investors remained concerned due to the sliding Korean won and US policy uncertainties under the incoming Trump administration. The local currency sharply fell against the US dollar, closing above 1,400 won for the first time in two years. The benchmark Korea Composite Stock Price Index lost 49.09 points, or 1.94 percent, to close at 2,482.57, the lowest since Aug. 5, when the corresponding figure was 2,441.55. Trade vo

Market Nov. 12, 2024

Rising K-pop girl group Babymonster has made an impressive debut on the US Billboard's main albums chart, establishing its popularity on the global stage with its first full-length album. The septet's album, "Drip," debuted at No. 149 on the Billboard 200, according to Billboard on social media platform X on Monday. The Billboard 200 is widely regarded as a key indicator of an artist's popularity in the US music market, particularly reflecting the size and impact of thei

K-pop Nov. 12, 2024

The Ministry of Land, Infrastructure and Transport on Tuesday sent a high-level delegation to Spain and Poland to explore infrastructure and development-related cooperation with the countries. During the four-day two-nation trip, the delegation headed by First Vice Land Minister Jin Hyun-hwan plans to hold a meeting with Spain's Ministry of Transport, Mobility and Urban Agenda, and attend a bilateral seminar to explore joint projects in third countries. In Poland, the delegation plans to pa

Foreign Affairs Nov. 12, 2024

Samsung Electronics Co. will expand its semiconductor package facilities in South Chungcheong Province to boost production of high bandwidth memory chips, company officials said Tuesday. Under a memorandum of understanding with the provincial government, Samsung Electronics will convert an underused liquid crystal display plant owned by Samsung Display Co. in Cheonan, some 85 kilometers south of Seoul, into a semiconductor fabrication plant, according to the officials. The new facilities, expect

Industry Nov. 12, 2024

South Korean banks will begin operations an hour later than usual on Thursday due to the national college entrance exam, a local association of banks said Tuesday. Around 520,000 high school seniors and graduates were to take the College Scholastic Ability Test on Thursday. In a move to help ease traffic in the morning hours, banks will open from 10 a.m. to 5 p.m., rather than their usual operating hours from 9 a.m. through 4 p.m., according to the Korea Federation of Banks. Such an adjustment i

Social Affairs Nov. 12, 2024

The government said Tuesday all aircraft takeoffs and landings across South Korea will be temporarily prohibited to keep noise down during this year's annual College Scholastic Ability Test later this week. According to the transportation ministry, aircraft takeoffs and landings will be restricted for 35 minutes between 1:05 p.m. to 1:40 p.m. on Thursday when the English listening evaluation portion of the national college entrance exam will be taken. The measure is aimed at preventing airc

Social Affairs Nov. 12, 2024

Samsung Electronics Co. has shared more than 100 patents with smaller businesses as part of efforts to promote shared growth, the industry ministry said Tuesday. The leading South Korean tech giant transferred 128 patents to 85 companies this year to assist them in developing innovative products and solutions without royalty fees, according to the Ministry of Trade, Industry and Energy. Samsung Electronics first launched the program in 2015 and has offered a total of 1,210 patents to 673 compani

Industry Nov. 12, 2024

With their longtime captain Son Heung-min back from injury, South Korea will chase their fourth consecutive victory in the ongoing World Cup qualification tournament this week against Kuwait. South Korea, world No. 22, will visit 135th-ranked Kuwait at Jaber Al-Ahmad International Stadium in Kuwait City at 5 p.m. Thursday local time, or 11 p.m. the same night in Seoul. It will be the fifth Group B match for both nations in the third round of the Asian qualification for the 2026 FIFA World Cup. S

Soccer Nov. 12, 2024

Prime Minister Han Duck-soo on Tuesday called for officials to come up with effective measures to prepare for potential policy changes in the United States under President-elect Donald Trump. Han made the call during a Cabinet meeting, anticipating "considerable policy shifts" in the US across foreign affairs, security, trade and industry after Trump takes office in January. "The government should ensure the close security cooperation framework between South Korea and the US opera

Politics Nov. 12, 2024