South Korean stocks opened a tad lower Thursday as investors remained cautious following US chip giant Nvidia's earnings report. The benchmark Korea Composite Stock Price Index lost 3.75 points, or 0.15 percent, to 2,478.54 in the first 15 minutes of trading. Overnight, US stocks ended mixed. The Dow Jones Industrial Average rose 0.32 percent and the Nasdaq Composite dropped 0.11 percent before Nvidia released its quarterly report after the bell. Nvidia reported third-quarter earnings that

Market Nov. 21, 2024

North Korea and Russia have signed a protocol on expanding cooperation following their committee meeting on economy, science, and technology in Pyongyang, the North's state media reported Thursday. The two sides signed the agreement Wednesday after holding the 11th meeting of the Intergovernmental Committee for Cooperation in Trade, Economy, Science, and Technology the previous day, according to the Korean Central News Agency (KCNA). Yun Jong-ho, the external economic relations minister of

North Korea Nov. 21, 2024

President Yoon Suk Yeol arrived in Seoul on Thursday from an eight-day trip to Peru and Brazil where he sought to expand global solidarity against the deepening military cooperation between North Korea and Russia. Yoon attended the Asia-Pacific Economic Cooperation summit in Lima and then traveled to Rio de Janeiro to join the Group of 20 summit. In Lima, Yoon met with US President Joe Biden and Japanese Prime Minister Shigeru Ishiba to reaffirm their commitments to trilateral security cooperati

Foreign Affairs Nov. 21, 2024

A UN General Assembly committee on Wednesday passed a resolution on North Korean human rights for the 20th consecutive year, calling for the UN system to address the North's "grave" situation "in a coordinated and unified manner." The Third Committee handling human rights and social affairs adopted by consensus the resolution, which expressed concerns over the North's declaration not to pursue reunification with South Korea and called for repealing practices and law

Foreign Affairs Nov. 21, 2024

South Korea's largest umbrella labor union and the farmers' association held a massive rally in central Seoul on Wednesday against the Yoon Suk Yeol administration, causing traffic congestion, officials said. An estimated 6,000 members of the Korean Confederation of Trade Unions (KCTU) and the general association of national farmers, simply known as Junnong, staged a joint rally in downtown Seoul, lashing out at the Yoon government for causing economic hardships for farmers and the p

Social Affairs Nov. 20, 2024

South Korean stocks extended their winning streak to the third straight day Wednesday as investors awaited the third-quarter earnings of US AI chip giant Nvidia. The local currency remained unchanged against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 10.34 points, or 0.42 percent, to close at 2,482.29. Trade volume was moderate at 400.3 million shares worth 7.7 trillion won ($5.53 billion), with gainers closely outpacing losers 435 to 420. Foreigners and individ

Market Nov. 20, 2024

Gen. Kang Shin-chul, the deputy commander of the South Korea-US Combined Forces Command, was set to depart for the United States on Wednesday to discuss ways to improve the allies' combined defense posture, according to the CFC. Kang's trip, which runs through Nov. 28, will begin by laying flowers at a monument dedicated to those who served in the 1953-53 Korean War and involve visits to institutions, including the US Department of Defense and the Joint Chiefs of Staff, the CFC said in

Politics Nov. 20, 2024

What has been a roller coaster of a year for the South Korean men's national team ended Tuesday night in Jordan, where the 22nd-ranked team settled for a 1-1 draw against world No. 100 Palestine in a World Cup qualifying match. It was South Korea's sixth Group B match in the third round of the Asian World Cup qualifiers and also their last international match of 2024. It closed the book on one of the most tumultuous years in South Korean football in recent memory, a season that feature

Soccer Nov. 20, 2024

North Korea has held the 11th meeting of the intergovernmental committee on economic cooperation with Russia and discussed a range of issues on mutual cooperation, the North's state media reported Wednesday. Yun Jong-ho, the external economic relations minister of North Korea, and Russia's Natural Resources Minister Alexander Kozlov attended the meeting of the Intergovernmental Committee for Cooperation in Trade, Economy, Science and Technology in Pyongyang the previous day, the Korean

North Korea Nov. 20, 2024

North Korean leader Kim Jong-un has inspected industrial factories under construction and urged their successful completion in 20 regions as planned, the North's state media reported Wednesday. Kim gave a "field guidance" at regional industrial factories under construction in Songchon County, South Phyongan Province, the previous day, stressing the country's policy of opening up "a new era of regional development," the Korean Central News Agency said. In a parliamen

North Korea Nov. 20, 2024

The commander of US Indo-Pacific Command said Tuesday that the United States has "not yet" seen North Korea's atmospheric reentry capability, a key technology required for the recalcitrant regime to advance its intercontinental ballistic missile (ICBM) program. Adm. Samuel Paparo made the remarks during a forum in Washington as Pyongyang has been doubling down on its quest to secure reliable long-range warhead delivery vehicles as seen in the test-launch last month of a new Hwason

North Korea Nov. 20, 2024

US President-elect Donald Trump on Tuesday nominated Cantor Fitzgerald CEO Howard Lutnick as his commerce secretary, saying that if confirmed, Lutnick will spearhead the tariff and trade agenda of the incoming administration. Trump issued a statement on the nomination of Lutnick, a co-chair of his transition team, as US allies and partners have been paying keen attention to how Trump's trade policy would take shape and affect their economies after he takes office in January. "He will l

Foreign Affairs Nov. 20, 2024

South Korea's producer prices fell for the third consecutive month in October, led by a marked fall in the prices of agricultural products, central bank data showed Wednesday. The producer price index, a major barometer of consumer inflation, fell 0.1 percent in October from a month earlier, following a 0.2 percent on-month decline the previous month, according to the preliminary data from the Bank of Korea. On a yearly basis, the index rose 1 percent last month, marking the 15th consecutiv

Economy Nov. 20, 2024

South Korean stocks opened slightly higher Wednesday, led by tech and financial shares, as investors awaited earnings results from U.S. AI chip giant Nvidia. The benchmark Korea Composite Stock Price Index added 8.1 points, or 0.33 percent, to 2,480.05 in the first 15 minutes of trading. Overnight, the Nasdaq composite rose more than 1 percent on a 4.9 percent jump in Nvidia as the chipmaker is set to release its quarterly results on Wednesday (U.S. time). In Seoul, tech and bank shares led the

Market Nov. 20, 2024

President Yoon Suk Yeol wrapped up visits to Peru and Brazil on Tuesday, where he focused on expanding international solidarity against the deepening military cooperation between North Korea and Russia. Yoon met with leaders of the Asia-Pacific Economic Cooperation gathering in Lima and joined the Group of 20 (G20) summit in Rio de Janeiro during the six-day trip, his first visit to South America since taking office in May 2022. He used the diplomatic stages to issue a stern warning against Nort

Politics Nov. 20, 2024