Seoul shares closed higher Thursday, helped by foreign buying, while investors remain concerned about the Federal Reserve's future policy path. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index was up 3.26 points, or 0.13 percent, to close at 2,514.96. Trade volume was slim at 353.45 million shares worth 6.43 trillion won ($5 billion), with decliners outnumbering gainers 469 to 403. Foreigners bought a net 119 billion won worth of stocks, offsetting

Market Nov. 23, 2023

The United States regards South Korea's partial suspension of a 2018 inter-Korean military tension reduction agreement as a "prudent" and "restrained" response to North Korea's repeated violations of it, the State Department said Wednesday. South Korea suspended part of the Comprehensive Military Agreement on Wednesday in response to Pyongyang's launch of a space rocket Tuesday. North Korea said later that it will "never be bound" by it and deploy &qu

Defense Nov. 23, 2023

South Korea and Britain have forged a strategic partnership on official development assistance projects and other areas of sustainable growth, the financial ministry said Thursday. Finance Minister Choo Kyung-ho and Foreign Minister Park Jin participated in the signing ceremony of the Strategic Development Partnership with British Foreign Secretary David Cameron in London, according to the Ministry of Economy and Finance. The agreement was reached during President Yoon Suk Yeol's state visi

Politics Nov. 23, 2023

Seoul shares opened higher Thursday, following gains on Wall Street, with investors remaining concerned about the Federal Reserve's additional rate hikes to tame inflation. The benchmark Korea Composite Stock Price Index rose 3.11 points, or 0.12 percent, to 2,514.81 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.5 percent to 35,273.03, and the tech-heavy NASDAQ also added 0.5 percent to 14,265.86. There have been expectations that the Fed has nearly

Market Nov. 23, 2023

The UN nuclear watchdog chief has reported a "strong" water outflow from a reactor's cooling system at North Korea's key nuclear complex in Yongbyon, hinting at the possible test-running of the facility suspected to be designed to produce more fissile material for nuclear bombs. International Atomic Energy Agency Director General Rafael Grossi explained his agency's observation of the light water reactor at the nuclear complex, 100 kilometers north of Pyongyang, during t

North Korea Nov. 23, 2023

The proportion of females in executive positions at the top 100 companies in South Korea reached the 6 percent mark for the first time ever this year, data showed Thursday. According to data of top 100 companies in terms of sales compiled by global headhunter UnicoSearch Inc., 439, or 6 percent, of the total of 7,345 executives were females as of the first half of this year. The executives included executive directors, members of the owner families and unregistered directors, but not outside dir

Social Affairs Nov. 23, 2023

South Korea has been elected to the UNESCO World Heritage Committee for a four-year term through 2027, officials here said Thursday, marking the country's fourth such election as a member of the committee. Seoul regained the membership at the 24th session of the General Assembly of the States Parties to the Convention for the Protection of the World Cultural and Natural Heritage that opened at the UNESCO headquarters in Paris on Wednesday for a two-day run, according to the Cultural Heritag

Foreign Affairs Nov. 23, 2023

North Korea said Thursday it will immediately restore all military measures halted under a 2018 inter-Korean military accord after South Korea suspended part of the tension reduction deal following the North's launch of a military spy satellite. The North's defense ministry said it will "never be bound" by the military agreement any more, effectively scrapping the deal that calls for a series of tension reduction measures along the heavily armed border, and warned that the South must &

North Korea Nov. 23, 2023

LONDON -- President Yoon Suk Yeol said Wednesday that updating the South Korea-Britain free trade agreement will enable the two countries' businesses to lead the global market. Yoon made the remark during a business forum attended by CEOs and business representatives from both countries during his ongoing state visit to London, as the two sides signed a joint declaration announcing the launch of negotiations to revise the FTA, which went into effect in 2021. "Over the course of the neg

Foreign Affairs Nov. 22, 2023

Jurgen Kinsmann, head coach of the South Korean men's national football team, said Wednesday he hopes China will release detained South Korean football player Son Jun-ho before Christmas, saying it was his "only one wish" for the holiday. Son, a national team veteran, was detained by Chinese authorities in May and was placed under formal arrest in June. Few details are known about the circumstances of Son's detention, with Chinese officials only saying he is facing bribery

Soccer Nov. 22, 2023

North Korea's military spy satellite appears to have entered into orbit, but more time would be needed to determine if it is operating properly, Seoul's military said Wednesday. The North launched the Malligyong-1 satellite from the country's west coast late Tuesday in its third attempt this year, claiming it has successfully entered into orbit. "After a comprehensive analysis of its flight track data and other signs, the satellite is assessed to have entered into orbit,&qu

North Korea Nov. 22, 2023

Seoul shares closed little changed Wednesday, as the Federal Reserve still warned against high inflation and US AI chip leader Nvidia released lower-than-expected earnings results. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index was up 1.28 points, or 0.05 percent, to close at 2,511.70. Trade volume was moderate at 433.37 million shares worth 7.66 trillion won ($5.9 billion), with gainers outnumbering losers 428 to 421. Institutions and individuals sold

Market Nov. 22, 2023

South Korea, the United States and Japan shared information about North Korea's launch of what it claimed to be a military spy satellite, South Korea's Joint Chiefs of Staff said Wednesday. "We immediately detected, tracked and monitored the launch, and shared related information among South Korea, the United States and Japan, and we are comprehensively analyzing detailed specifications," the JCS said in a message to reporters. North Korea said it successfully launched a spac

Defense Nov. 22, 2023

With the South Korean international Hwang Ui-jo under police investigation for alleged illegal filming of a sexual act, national football team head coach Jurgen Klinsmann is standing by the player. Hours before South Korea played China in a World Cup qualifying match in Shenzhen on Tuesday night, Seoul police said they had seized Hwang's mobile phone as part of their probe into accusations that he had filmed his ex-girlfriend during sex without her consent. In a statement released by her at

Social Affairs Nov. 22, 2023

Seoul shares opened lower Wednesday as the Federal Reserve still warned against high inflation and US AI chip leader Nvidia released lower-than-expected earnings results. The benchmark Korea Composite Stock Price Index fell 13.92 points, or 0.6 percent, to 2,496.50 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.2 percent to 35,088.29, and the tech-heavy NASDAQ shed 0.6 percent to 14,199.98. There have been expectations that the Fed is at the end of its hik

Market Nov. 22, 2023