South Korea on Monday began annual consultation meetings with global rating appraiser Standard & Poor's Global Ratings (S&P) to discuss the country's credit valuation and economic circumstances, the finance ministry said. The delegation, led by Kim Eng Tan, senior director of Asia-Pacific sovereign ratings at S&P, is visiting South Korea for three days of consultations through Wednesday, according to the Ministry of Economy and Finance. The delegation paid a courtesy visit

Economy Aug. 28, 2023

Seoul shares ended higher Monday, following gains on Wall Street after the US Federal Reserve signaled a moderate course on its monetary policy in the future. The Korean won rose against the dollar. The benchmark Korea Composite Stock Price Index rose 24.27 points, or 0.96 percent, to close at 2,543.41. Trading volume was moderate at 475.47 million shares worth 8.1 trillion won ($6.1 billion), with gainers outnumbering decliners 725 to 154. On Friday, US stocks ended higher, with the Dow Jones I

Market Aug. 28, 2023

North Korea apparently has decided to reopen its border after more than three years of its tight virus curbs due largely to economic challenges from its border closure, South Korea's unification ministry said Monday. North Korea said Sunday it has allowed its citizens abroad to return home amid eased concerns about the COVID-19 pandemic and will put them under quarantine for a week. The decision marked the secretive regime making official the reopening of its border. "Due to its border

North Korea Aug. 28, 2023

The government is considering relocating a bust of revered independence fighter Hong Beom-do from outside the defense ministry headquarters due to his past record of collaborating with Soviet communist forces, officials said Monday. Earlier, the defense ministry said it is considering relocating the busts of five Korean independence fighters, including Hong's, from the Korea Military Academy in northern Seoul, sparking protest from opposition parties and the Heritage of Korean Independence, an a

Defense Aug. 28, 2023

Seoul shares opened higher Monday, tracking gains on Wall Street, as the US Federal Reserve looks set to take a cautious stance in raising rates again. The benchmark Korea Composite Stock Price Index rose 7.25 points, or 0.29 percent, to 2,526.39 in the first 15 minutes of trading. Overnight, US stocks ended in positive territory, with the Dow Jones Industrial Average rising 0.7 percent and the tech-heavy Nasdaq Composite climbing 0.9 percent. In his speech last week in Jackson Hole, Wyoming, Fe

Market Aug. 28, 2023

The South Korean badminton duo of Seo Seung-jae and Kang Min-hyuk have struck gold in the men's doubles at the world championships in Denmark, giving their country a record title haul. Seo and Kang, world No. 6, rallied to defeat 11th-ranked Kim Astrup and Anders Skaarup Rasmussen of Denmark 14-21, 21-15, 21-17 for the men's doubles crown at the Badminton World Federation World Championships in Copenhagen on Sunday (local time). Seo and Kang are the first South Korean men's double

More Sports Aug. 28, 2023

Three South Korean players have ended up well back of the pack at the final playoff event on the PGA Tour. Kim Si-woo and Tom Kim tied for 20th place at the Tour Championship in Atlanta on Sunday, with both finishing at six-under 276. Kim Si-woo shot a four-under 66 in the final round at East Lake Golf Club with six birdies and two bogeys. Tom Kim went bogey-free in his round of 67. Im Sung-jae finished alone in 24th place at three-under 279, following a 69 in the final round. He was all over th

Golf Aug. 28, 2023

North Korea criticized a recent decision by the Netherlands, Denmark and Norway for providing F-16 fighters to Ukraine in its fight against Russia as an "anti-peace act," the North's state media said Monday. The commentary by the North's Institute of International Studies came as Pyongyang has expressed support for Russia's invasion of Ukraine and amid speculation of an arms deal between Pyongyang and Moscow. "Their decision to supply even fighters is an anti-peace

North Korea Aug. 28, 2023

President Yoon Suk Yeol's approval rating inched up to 37.6 percent, primarily due to positive public assessments of his trilateral summit with the United States and Japan, according to a poll Monday. In the survey of 2,507 eligible voters conducted by Realmeter from Monday to Friday last week, the positive assessment of Yoon's performance increased by 2 percentage points from the previous week, while disapproval of Yoon's performance dropped by 1.8 percentage points to 59.4 perce

Politics Aug. 28, 2023

A weapon-wielding man has been apprehended following a 2 1/2-hour standoff with police in Seoul, prompting fears of a stabbing rampage targeting random people, but no one was hurt, officials have said. The man was detained at 10:05 p.m. Saturday in the parking lot of a residential building in the northwestern ward of Eunpyeong after a report was filed with the police at 7:26 p.m. that a man was carrying a weapon. During the standoff, the man brandished the weapons in both hands at the officers a

Social Affairs Aug. 27, 2023

South Korea's exports of fisheries products fell more than 10 percent on-year during the first seven months of 2023, data showed Sunday. Outbound shipments of marine products came to $1.75 billion in the January-July period, down 11.5 percent from a year earlier, according to the data by the Korea Agro-Fisheries & Food Trade Corp. (aT). Global sales of major fisheries goods suffered a decline, with exports of tuna skidding 21.1 percent to $322 million and those of pollack sinking 82.8 p

Economy Aug. 27, 2023

Ryu Hyun-jin of the Toronto Blue Jays has won his third straight start while also helping snap the club's three-game losing streak. Ryu held the Cleveland Guardians to three runs -- two earned -- on four hits in five innings, as the Blue Jays prevailed 8-3 at Rogers Centre in Toronto on Saturday. Two of those hits were solo home runs. Ryu, who struck out five and didn't walk any, improved to 3-1 for the year, while his ERA went up slightly from 1.89 to 2.25. The South Korean left-hande

Baseball Aug. 27, 2023

SEONGNAM -- Four men were found dead Saturday at a bed and breakfast facility in Bundang, south of Seoul, sending police to investigate the cause of the deaths. Police received a report from the operator of the lodging service around noon that "four men were left dead in the same room." The four in their 30s and 40s reportedly arrived at the lodging establishment the previous evening. Police said no signs of foul play have been found in connection with the deaths so far, adding an inve

Social Affairs Aug. 26, 2023

BEIJING -- Another flight operated by Air Koryo, North Korea's national carrier, arrived in Beijing on Saturday, marking the resumption of regular passenger flights connecting the two countries after they were halted for more than three years due to the pandemic. China recently announced its approval of Koryo Air's schedule between the two countries' capitals, offering three flights per week, in a sign the border has reopened after international flights from and to the North were

North Korea Aug. 26, 2023

Police on Saturday released 16 university students who were arrested for attempting to enter the Japanese Embassy in central Seoul in protest of Japan's discharge of radioactive water into the ocean. On Thursday, the students attempted to enter the Japanese Embassy, while chanting slogans against the discharge of the radioactive water. The police detained them at four police stations on charges of trespassing and violating the Assembly and Demonstration Act. Police said they will decide w

Social Affairs Aug. 26, 2023