South Korea’s retail investors are trying to exert their influence on the country’s stock market policies, having tasted success in their last campaign. Dubbed as “ants” for their ability to influence policies when they act as a group, the individual investors are backing a proposal by President Yoon Suk Yeol’s administration to scrap a capital gains tax imposed on financial investments. The main opposition Democratic Party opposes the abolition of the levy, say

Economy Sept. 21, 2024

Heavy overnight rains across South Korea triggered landslides and flooding, forcing the evacuation of more than 600 people in southern regions and submerging roads and buildings Saturday. No casualties have been reported so far, according to authorities. Heavy rain warnings were in effect across the southern Gyeongsang region and parts of Gangwon, Chungcheong and Jeolla provinces as of Saturday morning, with more rainfall expected through Sunday, according to the Korea Meteorological Adminis

Social Affairs Sept. 21, 2024

The Kia Tigers announced Friday their temporary foreign pitcher Eric Stout will miss the rest of the regular season with a hamstring injury. The Tigers, the 2024 regular-season champions in the Korea Baseball Organization, said Stout was diagnosed with a left hamstring injury that will keep him from pitching again this season. The Tigers, who clinched the best regular-season record on Tuesday, have six games remaining. Stout suffered the injury after delivering a pitch during Thursday's gam

Baseball Sept. 20, 2024

The retiring South Korean baseball star Choo Shin-soo has decided to postpone a celebration of his long professional career to next year. The SSG Landers of the Korea Baseball Organization (KBO) announced Friday that Choo, who plans to hang up his spikes after this season, asked the club not to hold his retirement ceremony this year. According to the Landers, Choo said he didn't want to be a distraction during the club's fight for a postseason spot. With their game on Friday rained out

Baseball Sept. 20, 2024

K-pop giant Hybe said Friday it has acquired a US-based public relations agency as part of its strategy to bolster the PR capabilities of its American unit. According to Hybe's semi-annual report, The Agency Group PR LCC, a non-listed company based in Santa Monica, California, has been added to the list of its consolidated subsidiaries through an equity acquisition. The Agency Group PR, whose main business is public relations, is now a subsidiary of Hybe America, with Hybe holding a 51 perc

K-pop Sept. 20, 2024

Seoul shares ended higher Friday on institutional buying after the Federal Reserve's first rate cut in more than four years lifted investor sentiment. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 0.49 percent, or 12.57 points, to close at 2,593.37. The main index rose 0.7 percent this week. Trading volume was moderate at 477.43 million shares worth 13.78 trillion won ($10.4 billion), with gainers exceeding decliners 562 to 319. Over

Market Sept. 20, 2024

Former President Moon Jae-in lambasted the North Korea policies of the Yoon Suk Yeol administration on Friday, saying they have led to the "most dangerous" state on the Korean Peninsula since the 1950-53 Korean War. Moon, a liberal whose North Korea policies centered on bringing lasting peace through diplomacy, attacked the policies of his conservative successor at a conference held in the southwestern county of Yeongam to mark the sixth anniversary of the Pyongyang Joint Declaration h

Politics Sept. 20, 2024

Unification Minister Kim Yung-ho on Friday called on North Korea to "immediately and unconditionally" send a detained South Korean missionary and five other nationals back home, condemning the North's yearslong arbitrary detention as grave human rights violations. South Korea's top point man on North Korea issued a rare statement marking 4,000 days after missionary Kim Jung-wook was arrested in Pyongyang in 2013. He was sentenced to hard labor for life on charges of spying fo

Politics Sept. 20, 2024

South Korea and the United States will hold regular defense talks next week to discuss ways to strengthen security cooperation against North Korean nuclear and missile threats, the South's defense ministry said Friday. The 25th Korea-US Integrated Defense Dialogue (KIDD) is set to be held in Seoul on Monday and Tuesday for discussions on an array of security alliance issues ahead of the annual Security Consultative Meeting, which takes place annually in the fall. South Korea's Deputy M

Diplomatic Circuit Sept. 20, 2024

Seoul shares opened higher Friday, tracking gains on Wall Street, after the US Federal Reserve's first rate cut in more than four years lifted investor sentiment. The benchmark Korea Composite Stock Price Index rose 1.09 percent, or 28.01 points, to 2,608.81 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average added 1.3 percent to 42,025.19 points, and the tech-heavy Nasdaq Composite jumped 2.5 percent to 18,013.98. On Wednesday, the Fed kicked off its monetary-ea

Market Sept. 20, 2024

The presidential office on Thursday rejected former President Moon Jae-in's call for reviewing its approach to unification with North Korea, saying the previous government's dialogue-focused peace initiative is "unrealistic." A senior presidential official who accompanied President Yoon Suk Yeol on a trip to the Czech Republic made the remark after Moon criticized the Yoon administration's hard-line policy on North Korea and called for efforts to ease inter-Korean tensio

Politics Sept. 20, 2024

A 3.9 magnitude earthquake struck North Korea's northwestern province bordering China on Thursday, which is believed to be a natural one, the South Korean weather agency said. The quake struck an area 7 kilometers northeast-east of Ryongrim in Jagang Province, at 7:41 p.m., according to the Korea Meteorological Administration. The epicenter was at a latitude of 40.54 degrees north and a longitude of 126.75 degrees east, the KMA said. The quake is believed to have occurred naturally, it adde

Social Affairs Sept. 19, 2024

A parliamentary subcommittee passed a bill Thursday that calls for tougher punishment for digital sex crimes using deepfake technologies against children and teenagers. During a subcommittee legislative review session, the National Assembly's gender equality and family committee made the bipartisan decision to pass the revision of the act on the protection of children against sex crimes. The proposed bill calls for sentencing of at least three years imprisonment for blackmailing young people usi

Politics Sept. 19, 2024

The number of patients who visited hospital emergency rooms dropped 32 percent during the Chuseok holiday, the health ministry said Thursday, assessing that there were no major disruptions in emergency care. A prolonged walkout by trainee doctors had fueled concerns about potential disruptions at hospital emergency rooms during the holiday, prompting the government to ask patients with mild illnesses to visit community hospitals. The average number of patients who visited emergency rooms stood a

Social Affairs Sept. 19, 2024

Foreign Minister Cho Tae-yul will fly to New York next week to attend the annual United Nations General Assembly, where he is expected to discuss key international issues and highlight South Korea's efforts toward sustainable peace, his office said Thursday. During the six-day visit starting Monday, Cho will deliver a keynote speech at the general debate of the high-level gathering to reaffirm South Korea's commitment to ensuring global peace and prosperity, foreign ministry spokespers

Foreign Affairs Sept. 19, 2024