Articles by Yonhap
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Seoul shares open weaker on tech, battery slump
South Korean stocks opened weaker Thursday as investors sought profits following the previous session's sharp rise amid mixed overnight results on Wall Street. The benchmark Korea Composite Stock Price Index fell 26.04 points, or 0.97 percent, to 2,649.71 in the first 15 minutes of trading. On Wednesday, the main index spiked nearly 2 percent, backed by chipmakers and batterymakers. Overnight, Wall Street closed mixed as a disappointing earnings report from Meta Platforms put investors on e
Economy April 25, 2024
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
The United States will take steps "in time" to have three-way engagements on nuclear deterrence with South Korea and Japan, a senior US diplomat said Wednesday, reiterating America's "firm" security commitment to the Asian allies. Deputy Secretary of State Kurt Campbell made the remarks, noting ongoing efforts to ensure the credibility of the US' "extended deterrence" commitment through bilateral platforms with the allies in the face of shared challenges,
Foreign Affairs April 25, 2024
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Landers slugger Choi Jeong becomes new KBO career home run leader
SSG Landers slugger Choi Jeong is the new home run king in South Korean baseball. Choi launched his 468th home run off Lotte Giants starter Lee In-bok at Sajik Baseball Stadium in the southeastern city of Busan on Wednesday, passing former Samsung Lions star Lee Seung-yuop on the all-time home run list in the Korea Baseball Organization. With the Landers trailing 7-4, Choi came up with two outs in the top of the fifth inning for his third plate appearance. Choi drilled a first-pitch slider and s
Baseball April 24, 2024
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NewJeans fans send protest truck against agency chief in conflict with Hybe
Some fans of girl group NewJeans staged a protest outside the building of K-pop giant Hybe in Seoul on Wednesday, deploying a "protest truck" to voice their grievances against the chief of its sub-label in an escalating conflict with the parent company. "Min Hee-jin should no longer use NewJeans and its family," blared an electronic billboard mounted on the truck sent by the members of Bunnies, the group's fandom. Min is the CEO of ADOR. Other messages repeatedly flashed
K-pop April 24, 2024
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Seoul shares jump 2% on rally in techs, batteries
South Korean stocks soared 2 percent Wednesday as tech, secondary battery and other market heavyweights rallied following overnight gains on Wall Street. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index climbed 52.73 points, or 2.01 percent, to 2,675.75. Trade volume was moderate at 319 million shares worth 10.06 trillion won ($7.34 billion). Winners outpaced losers 610 to 270. Institutions and foreign investors combined bought a net 855.3 billion won, w
Market April 24, 2024
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'The Roundup: Punishment' breaks all-time ticket reservation record for Korean films: distributor
"The Roundup: Punishment" set a ticket reservation record for Korean films of all time on its opening day, Wednesday, its distributor said, signaling a robust start for the highly anticipated film. The latest installment in "The Roundup" crime-action franchise starring Ma Dong-seok amassed over 830,000 presold tickets at theaters nationwide, accounting for a whopping 95.5 percent of all box-office ticket reservations as of 8 a.m., ABO Entertainment said, citing figures from t
Film April 24, 2024
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4 conglomerates see combined operating profit plunge 65% last year: report
Four major conglomerates saw their combined operating profit plunge 65 percent last year, hit by sluggish sales amid an economic slowdown, a report showed Wednesday. Some 306 affiliates of four conglomerates -- Samsung, SK, Hyundai Motor and LG -- posted a combined operating profit of 24.51 trillion won ($17.9 billion) in 2023, down from 71.91 trillion won a year earlier, according to the report by the Korea CXO Institute, a corporate data firm. Samsung Group, the country's biggest conglome
Economy April 24, 2024
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S. Korea, US stage space training against NK GPS jamming threats
South Korea and the United States have conducted joint space exercises to fend off North Korea's global positioning system jamming attacks and other space-based threats, the Air Force said Wednesday. The Air Force's Space Operation Squadron and the US Space Forces Korea formed an integrated team to conduct the training as part of the Korea Flying Training, an annual large-scale airpower drill. It marked the first time that an integrated space operation team attended the KFT, a two-week
Defense April 24, 2024
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Trade minister meets head of African trade bloc
Trade Minister Cheong In-kyo has met Wamkele Mene, the secretary general of the African Continental Free Trade Area, in Seoul and they discussed ways to expand economic ties, officials said. The AfCFTA, the largest trade bloc in Africa, officially came into force in January 2021. During the meeting, Cheong said the launch of the AfCFTA is significant considering the growing protectionism around the globe, Seoul's trade ministry said. The upcoming summit between South Korea and African natio
Foreign Affairs April 24, 2024
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Crypto mogul Kwon appeals against Montenegro court's extradition verdict
Montenegrin lawyers of disgraced South Korean crypto entrepreneur Do Kwon are struggling to have him extradited to his home country, not the United States, according to local news reports. Kwon's legal representatives in Montenegro appealed against the Podgorica High Court's recent ruling that found the conditions for his extradition to both South Korea and the US were met, local daily Vijesti reported on Tuesday. In their appeal, the lawyers said that the high court's April 8 dec
Economy April 24, 2024
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Seoul shares open sharply higher on US stock gains
South Korean stocks opened stronger Wednesday as investors snapped up blue chips across the board following overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index climbed up 46.43 points, or 1.77 percent, to 2,669.45 in the first 15 minutes of trading. Overnight on Wall Street, the S&P 500 rose 1.2 percent and the tech-heavy Nasdaq jumped 1.59 percent, while the Dow Jones Industrial Average gained 0.69 percent, as tech heavyweights lifted the broader US stock market.
Market April 24, 2024
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Med professors to resign this week amid prolonged doctors' walkout
Medical professors at major hospitals in South Korea will resign later this week and have a day off next week as they have been thinly stretched amid a prolonged walkout by trainee doctors, officials said Tuesday, deepening concerns over further disruptions in the country's health care system. "We confirm our resignation will start from April 25 as planned," an emergency committee of national medical professors said after an online general meeting. "We will go ahead without t
Social Affairs April 23, 2024
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Seoul shares fall on foreign selling despite overnight US gains
South Korean stocks finished slightly lower Tuesday as foreign investors took profit despite overnight gains on Wall Street. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 6.42 points, or 0.24 percent, to 2,623.02. Trade volume was moderate at 316 million shares worth 9.43 trillion won ($6.84 billion). Winners, however, outpaced losers 671 to 403. Foreign investors sold a net 288.8 billion won, while institutions and individuals combined bought a
Market April 23, 2024
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S. Korea vows thorough market monitoring, immediate responses to Middle East crisis
Finance Minister Choi Sang-mok met with experts of economic and international affairs Tuesday and discussed responses to growing uncertainties in the Middle East, the finance ministry said. During a meeting of the international economic advisory panel in Seoul, experts called on the government to "check developments and assess potential impacts thoroughly as the conflict between Israel and Iran, coupled with the Israel-Hamas war, has seriously boosted uncertainties in the global economy,&qu
Economy April 23, 2024
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Med professors considering taking day off every week amid prolonged doctors' walkout
Medical school professors nationwide are reviewing taking a day off every week as they have been thinly stretched amid the prolonged walkout by trainee doctors, officials said Tuesday, deepening concerns over further disruptions in the country's health care system. The emergency committee for national medical professors will hold a general meeting later in the day and discuss the potential suspension of all surgeries and treatment for outpatients once a week, according to its officials. Det
Social Affairs April 23, 2024
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