Articles by Yonhap
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S. Korean shares fall on profit taking; won sharply down
South Korean shares closed slightly lower Friday as investors cashed in gains after the market rallied by more than 2 percent the previous session. The local currency fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index fell 6.3 points, or 0.23 percent, to close at 2,748.56. Trade volume was moderate at 501.3 million shares worth 11.3 trillion won ($8.42 billion), with gainers outnumbering losers 485 to 381. Foreigners bought a net 665 billion won worth of stocks,
Market March 22, 2024
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N. Korea's ruling party delegation embarks on trip to China, Vietnam, Laos
North Korea's ruling party delegation has arrived in Beijing on a three-nation tour, state media reported Friday, in a move seen aimed at strengthening ties with countries sharing the socialist ideology. The delegation, led by Kim Song-nam, director of the international department at the Workers' Party, was greeted by the assistant to the head of the International Liaison Department of the Chinese Communist Party at an airport Thursday, the Korean Central News Agency said, without prov
North Korea March 22, 2024
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Additional military surgeons, public health doctors to be deployed: PM
Prime Minister Han Duck-soo said Friday that the government will deploy additional military surgeons and public health doctors to help cope with the prolonged walkout by junior doctors. Over 90 percent of the country's 13,000 junior doctors have been on mass resignations for more than a month, protesting against the government's decision to increase the medical school quota, leading to the cancellation of crucial surgeries and crippling the medical system. "(The government) will p
Social Affairs March 22, 2024
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Poet Kim Hye-soon's 'Phantom Pain Wings' wins National Book Critics Circle Award
South Korean poet Kim Hye-soon won the prestigious National Book Critics Circle Award for her work "Phantom Pain Wings" on Thursday. The National Book Critics Circle, an American nonprofit association, announced her as the winner in the poetry category of this year's awards during a ceremony in New York City. She became the first Korean ever to win at NBCC Awards. The annual awards recognize outstanding books published in English across six categories: fiction, nonfiction, biograp
Books March 22, 2024
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Seoul shares open nearly flat on profit taking
South Korean stocks opened nearly flat Friday after hitting a nearly two-year high the previous session despite overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index edged down 2.76 points, or 0.1 percent, to 2,752.1 in the first 15 minutes of trading. On Thursday, the main index rallied by more than 2 percent amid growing hopes for US rate cuts in the near future. Overnight, the Dow Jones Industrial Average climbed 0.68 percent to a new high, while the S&P 500 and
Market March 22, 2024
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US official notes Korean firms' move not to sell used chip equipment to China as 'encouraging'
A senior US official on Thursday portrayed South Korean companies' reported move to stop selling used semiconductor manufacturing equipment to China as "encouraging," as Washington has been seeking tighter export controls on key technologies amid an intensifying Sino-US rivalry. Alan Estevez, under secretary of commerce for industry and security, made the remarks in his written statement to a hearing of the House Committee on Foreign Affairs, entitled "Countering China on the Worl
Foreign Affairs March 22, 2024
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S. Korea held by Thailand in World Cup qualifying match at home
South Korea settled for a 1-1 draw against Thailand in their latest World Cup qualifying match at home Thursday, a disappointing result coming on the heels of off-field controversy for the national team. Captain Son Heung-min scored in the 42nd minute but Suphanat Mueanta had the answer for Thailand in the 61st minute at Seoul World Cup Stadium in Group C action of the second round in the Asian Football Confederation (AFC) qualification for the 2026 FIFA World Cup. South Korea, world No. 22, s
Soccer March 21, 2024
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FM says S. Korea can negotiate defense cost sharing with US on 'favorable conditions'
South Korea should be able to engage in negotiations on defense cost-sharing with the United States under "favorable conditions," its top diplomat said Thursday, promising efforts to ensure the new deal will be reached at a reasonable level. Foreign Minister Cho Tae-yul made the remarks as the allies are expected to soon launch the negotiations on determining Seoul's share of the costs for the upkeep of the 28,500-strong US Forces Korea. The two countries announced their respect
Foreign Affairs March 21, 2024
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Korean Air to sign $13.7 bln deal to buy 33 Airbus A350 jets
Korean Air Co., South Korea's No. 1 flag carrier, said Thursday it plans to sign a $13.7 billion deal with Airbus to buy 33 units of its latest A350 series aircraft. The company said the deal, which includes 27 A350-1000s and six smaller-sized A350-900s, will be clinched to supplement its long-term fleet operations as it retires its older aircraft. The A350-1000 is the largest in the A350 family, accommodating up to 410 passengers, and uses advanced composite materials to reduce fuel cons
Industry March 21, 2024
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Samsung Display to pay out dividends for 1st time
Samsung Display Co. said Thursday it will pay out dividends for the first time since its establishment in 2012, a move that will lead its parent company Samsung Electronics Co. to receive about 5.6 trillion won ($4.2 billion) in dividends. At a shareholders' meeting Tuesday, Samsung Display decided to deliver 25,400 won per share in dividends totaling 6.65 trillion won, the company said in a regulatory filing. Samsung Electronics is the top shareholder of Samsung Display with an 84.8 perc
Companies March 21, 2024
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Police officer arrested on suspicion of leaking drug probe info over late actor Lee Sun-kyun
A police officer was arrested Thursday for allegedly leaking information on a drug probe into late actor Lee Sun-kyun, who took his own life late last year, police said. The Gyeonggi Nambu Provincial Police's anti-corruption and financial crime unit arrested the officer at the Incheon Metropolitan Police Agency earlier in the day on suspicion of leaking a report on the investigation regarding Lee, according to investigative officials. In January, police began looking into how the informat
Social Affairs March 21, 2024
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S. Korean shares jump over 2% on hopes for US rate cuts; won sharply up
South Korean shares rallied by more than 2 percent Thursday amid growing hopes for US rate cuts in the near future. The local currency also rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index surged 64.72 points, or 2.41 percent, to close at 2,754.86, the highest in nearly two years since April 5, 2022 when the index closed at 2,759.20. Trade volume was heavy at 811.8 million shares worth 13.8 trillion won ($10.4 billion), with gainers outnumbering losers 655 to 2
Market March 21, 2024
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S. Korea, US stage urban warfare drills in border city
South Korea and the United States were staging combined urban combat training this week to bolster their readiness against threats in urban areas and underground facilities, Seoul's Army said Thursday. The five-day Army exercise kicked off at an urban operations training ground in the border city of Paju, 37 kilometers northwest of Seoul, on Monday. The exercise mobilized some 400 troops, including soldiers from the South's 9th Infantry Division, a US infantry platoon and other units,
Defense March 21, 2024
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1 S. Korean dead, 1 missing after chemical tanker capsizes off western Japan
A South Korean chemical tanker has capsized off Japan's west coast, leaving one South Korean dead and another missing, officials said. Eight of the 11 crew members on board the Keoyoung Sun vessel died after it capsized in waters near an island off the city of Shimonoseki in the Yamaguchi Prefecture on Wednesday, Seoul's foreign ministry and Japanese news outlets said, citing Japan's coast guard officials. The crew members included two South Koreans, including the captain, as well
Social Affairs March 21, 2024
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Seoul shares open sharply higher on hopes for US rate cuts
South Korean stocks opened sharply higher Thursday following record-high finishes on Wall Street afforded by hopes for US rate cuts this year. The benchmark Korea Composite Stock Price Index added 37.38 points, or 1.39 percent, to 2,727.52 in the first 15 minutes of trading. The US Federal Reserve kept its policy rate intact for a fifth consecutive session Wednesday at the 5.25 to 5.50 percent range but signaled as many as three rate cuts within the year. The Dow Jones Industrial Average climbed
Market March 21, 2024
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