A cargo ship believed to be Chinese submerged in waters off South Korea's southwestern coast Wednesday, the Coast Guard said. The Mokpo Coast Guard said it received a report at around 7:28 a.m. that the 200-ton ship was sinking in waters off Gageo Island, 422 km southwest of Seoul. However, it later said the ship submerged at a 45-degree starboard angle. The Coast Guard is investigating whether there were any attempts at illegal entry into South Korea, citing no crewmen were found on the sh

Social Affairs Nov. 29, 2023

The US Department of Defense said Tuesday that there are "plenty" of images of the White House and the Pentagon already available online, after North Korea claimed its military spy satellite took photos of key US government and military facilities. In a press briefing, Brig. Gen. Patrick Ryder, the department's press secretary, also reiterated the United States' "ironclad" defense commitment to South Korea, as Pyongyang started reinstalling guard posts and heavy weapons along

Foreign Affairs Nov. 29, 2023

South Korean stocks opened a tad lower Wednesday ahead of the central bank's rate-setting meeting. The benchmark Korea Composite Stock Price Index (Kospi) lost 11.02 points, or 0.44 percent, to 2,510.74 in the first 15 minutes of trading. Overnight on Wall Street, US stocks climbed modestly on a dovish comment by a Federal Reserve official, with the Dow Jones Industrial Average edging up 0.24 percent and the Nasdaq Composite adding 0.29 percent. The Bank of Korea is set to decide on its pol

Market Nov. 29, 2023

The South Korea football governing body announced Tuesday forward Hwang Ui-jo will be banned from the national team until the conclusion of an ongoing police investigation into charges that he'd filmed a sexual encounter with a woman without consent. The Korea Football Association (KFA) reached the decision following a meeting of representatives from its ethics committee and national team technical committee earlier in the day. The KFA held the meeting after being criticized for putting Hwa

Soccer Nov. 28, 2023

South Korea is set to make its final presentation for the 2030 World Expo host city bid in Paris on Tuesday, bringing in high-profile figures such as former U.N. Secretary-General Ban Ki-moon and K-pop stars. The host city for the globally prestigious event, overseen by the Paris-based Bureau International des Expositions (BIE), will be elected by member states in rounds of voting during the general assembly later in the day. Each candidate will make a final presentation prior to the voting. Sou

Foreign Affairs Nov. 28, 2023

South Korean stocks ended more than 1 percent higher Tuesday, as investors were buoyed by the latest news on an extended cease-fire in the Middle East. The local currency rose sharply against the US greenback. The benchmark Kospi jumped 26.1 points, or 1.05 percent, to close at 2,521.76. Trading volume was slim at 435.8 million shares worth 8.59 trillion won ($6.64 billion), with gainers slightly outnumbering decliners 457 to 417. Individual investors led the rally, purchasing a net 572.6 billio

Market Nov. 28, 2023

A disability rights advocacy group said Tuesday it will file a complaint with the state human rights watchdog against police for arresting the group's leader without informing him of his Miranda rights. The Solidarity Against Disability Discrimination claimed the police used violence and failed to announce the Miranda warning while arresting its leader, Park Kyoung-seok, during a subway protest last week. Park, 63, was apprehended on the platform of Seoul's Hyehwa Station at 8:50 p.m.

Social Affairs Nov. 28, 2023

South Korea will push for using commercial satellites in low Earth orbit in a military communication system to efficiently enhance combat capability of the armed forces, the state arms procurement agency said Tuesday. The Defense Rapid Acquisition Technology Research Institute under the state-run Agency for Defense Development signed a 39.8 billion won ($30.6 million) project with Hanwha Systems Co. for development of the military communication system using Hanwha's commercial satellites op

Defense Nov. 28, 2023

The vote for the host city of the 2030 World Expo is set to take place in Paris on Tuesday, with South Korea's southeastern city of Busan making last-ditch efforts to pull off an upset in the competition against two other candidates. The host country will be selected by the member states of the Bureau International des Expositions, the body responsible for overseeing the global event that can generate economic benefits and jobs, during its general assembly later in the day. Busan is contend

Politics Nov. 28, 2023

South Korean stocks started a tad higher on Tuesday despite overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index rose 15.98 points, or 0.64 percent, to 2,511.64 in the first 15 minutes of trading. In the United States, major stock indices closed in negative territory, with the Dow Jones Industrial Average losing 0.16 percent and the Nasdaq Composite declining 0.07 percent. In Seoul, large-cap shares led the positive start. Market bellwether Samsung Electronics rose 0.

Market Nov. 28, 2023

North Korea's actions taking place along the inter-Korean border are raising the risk of military tensions and miscalculations, a State Department spokesperson said Monday, as the recalcitrant regime began reinstalling guard posts and heavy firearms there. Seoul's defense ministry has said that North Korean troops were spotted installing temporary guard posts and carrying weapons inside the Demilitarized Zone separating the two Koreas, after Pyongyang declared it would not be bound by

North Korea Nov. 28, 2023

North Korea said Tuesday the country's military spy satellite has taken photos of the White House, the Pentagon and nuclear aircraft carriers docked at a US naval base. Leader Kim Jong-un viewed the photos on Monday and Tuesday when he received an operations report from the Pyongyang General Control Center of the National Aerospace Technology Administration, according to the official Korean Central News Agency said. He observed satelite photos of the White House and the Pentagon taken at 11:36 p

North Korea Nov. 28, 2023

Hyundai Motor plans to halt its factory in Asan, South Korea, to construct an electric vehicle plant in the period between Dec 31. 2023 to Feb. 13 2024, the South Korean automaker said in a regulatory filing on Monday. Hyundai Motor said it plans to resume operations at the Asan factory on Feb. 14.

Industry Nov. 27, 2023

South Korea and the China-led Asian Infrastructure Investment Bank (AIIB) discussed ways Monday to boost bilateral cooperation on the financial sector and conduct various joint infrastructure projects, the finance ministry here said. The discussion took place during the meeting between Finance Minister Choo Kyung-ho and AIIB President Jin Liqun held in Seoul earlier in the day, according to the Ministry of Economy and Finance. Choo asked for the AIIB chief's support for South Korean com

Market Nov. 27, 2023

DEIR AL-BALAH, Gaza Strip — The fragile cease-fire between Israel and Hamas was back on track Sunday as the militants freed 17 more hostages, including 14 Israelis and the first American, in a third exchange under a four-day truce that the US said it hoped would be extended. In turn, Israel released 39 Palestinian prisoners. Most hostages were handed over directly to Israel, waving to a cheering crowd as they arrived at an air force base. Others left through Egypt. Israel’s army said

World News Nov. 27, 2023