Articles by Yonhap
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Medical professors at Seoul Nat'l Univ. hospitals to end indefinite walkout
Medical professors serving as senior doctors at Seoul National University Hospital (SNUH) and its affiliates decided Friday to end an indefinite walkout, saying they could not put patients at risk any more, officials said. On Monday, senior doctors at SNUH in Seoul and its three affiliates began an indefinite walkout in protest against the government's increase of the medical school admissions quota. Around 530 senior doctors there, or 54.8 percent of the total, have joined the collective a
Social Affairs June 21, 2024
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Seoul shares snap 3-day rise on profit taking
Seoul shares closed lower Friday on profit taking after a three-session winning streak. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 23.37 points, or 0.83 percent, to close at 2,784.26. The Kospi has risen 0.9 percent this week. Trade volume was heavy at 617.53 million shares worth 14.12 trillion won ($10.1 billion), with decliners outnumbering gainers 577 to 296. Institutions and foreigners sold a combined 365 billion won worth of stocks, offse
Market June 21, 2024
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Putin warns S. Korea's potential arms supply to Ukraine would be 'very big mistake'
Russian President Vladimir Putin has warned it would be a "very big mistake" if South Korea provides lethal weapons to Ukraine after Seoul suggested such a possibility in response to Russia's commitment to military cooperation with North Korea. The South Korean government said Thursday it will reconsider its stance on its arms supply to Ukraine after North Korea and Russia signed a treaty that involves military assistance without delay if one of them is attacked. "As for the
Foreign Affairs June 21, 2024
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N. Korean defectors send anti-Pyongyang leaflets again to N. Korea
A North Korean defectors' group said Friday it has sent more balloons carrying anti-Pyongyang leaflets to North Korea the previous day, after the North warned of counteractions against such a leaflet campaign and Seoul's propaganda loudspeaker broadcasts. The Fighters for a Free North Koreasaid it sent 20 balloons carrying some 300,000 leaflets, USB sticks and US dollars across the border on Thursday night in the border city of Paju. The group said the USB sticks contained hit K-drama
Social Affairs June 21, 2024
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S. Korea to call in top Russian envoy to protest new treaty with N. Korea
South Korea is expected to call in the top Russian envoy in Seoul on Friday to lodge a protest over a new treaty signed with North Korea calling for immediate military assistance if either is attacked. First Vice Foreign Minister Kim Hong-kyun will call in Russian Ambassador Georgy Zinoviev later in the day to deliver Seoul's position on the "comprehensive strategic partnership" treaty inked between Moscow and Pyongyang at their leaders' summit Wednesday, diplomatic sources s
North Korea June 21, 2024
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US official voices concern over NK-Russia security treaty, vows to evaluate Indo-Pacific posture
A White House official on Thursday expressed concern over a new security treaty between Russia and North Korea, and vowed to continue to evaluate America's defense posture throughout the Indo-Pacific "as needed." National Security Communications Advisor John Kirby made the remarks after Russian President Vladimir Putin and North Korean leader Kim Jong-un signed a comprehensive strategic partnership treaty during a summit in Pyongyang on Wednesday. The treaty stipulates that in cas
Foreign Affairs June 21, 2024
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S. Korea, Japan to hold finance ministers' meeting next week
South Korea's Finance Minister Choi Sang-mok will hold talks with his Japanese counterpart, Shunichi Suzuki, next week to discuss ways of strengthening financial and economic cooperation, Seoul's finance ministry said Friday. The ninth Korea-Japan finance ministers' meeting will take place in Seoul on Tuesday, which will mark the first time in eight years that top economic policymakers of the neighboring countries meet in Seoul, according to the Ministry of Economy and Finance. Th
Economy June 21, 2024
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S. Korea excluded from US 'monitoring list' for FX policy for 2nd straight time
The United States took South Korea off its list of countries to monitor for their foreign exchange policies for the second consecutive time while adding Japan to the list, a Treasury Department report showed Thursday. The department released the semiannual "Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States" following its November report, where South Korea was excluded from the list for the first time since April 2016. The l
Foreign Affairs June 21, 2024
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Arrest warrants issued for 2 accused of defaming Yoon in media interview
Two men were arrested Friday on charges of defaming President Yoon Suk Yeol in a media interview engineered to discredit him as a presidential candidate, following a Seoul court's issuance of arrest warrants. Kim Man-bae, a journalist-turned-property developer, and journalist Shin Hak-lim are accused of engineering a media interview that falsely suggested Yoon's involvement in a high-profile development corruption scandal. The interview, conducted in September 2021, was published by Sh
Social Affairs June 21, 2024
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Seoul shares open lower on profit taking
Seoul shares opened lower Friday, after a mixed close on Wall Street, as investors offloaded tech and other large-cap stocks on profit taking following a three-session winning streak. The benchmark Korea Composite Stock Price Index fell 19.81 points, or 0.71 percent, to 2,787.82 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.8 percent to 39,134.76 points and the tech-heavy Nasdaq Composite fell 0.8 percent to 17,721.59. In Seoul, tech stocks were lead decl
Market June 21, 2024
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Gyeongju recommended as host city candidate for 2025 APEC summit in S. Korea
The city of Gyeongju in South Korea's North Gyeongsang Province has been recommended as the host city candidate for the 2025 Asia-Pacific Economic Cooperation (APEC) summit, Seoul's foreign ministry said Thursday. The government's APEC summit host city recommendation committee held a meeting earlier in the day and selected Gyeongju, about 280 kilometers southeast of Seoul, as the candidate city to host the summit scheduled to be held next year, the ministry said. The upcomin
Foreign Affairs June 20, 2024
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US Supreme Court dismisses British firm's appeal case over F-35 jet sales to S. Korea
The top US court has dismissed an appeal case by a British company claiming it was wrongfully excluded during South Korea's purchase of advanced US-made F-35 fighters, Seoul's arms procurement agency said Thursday. The US Supreme Court dismissed the appeal Monday in a case that South Korea has argued is beyond the jurisdiction of US courts as the transaction was one between governments, according to the Defense Acquisition Program Administration (DAPA). In December 2020, Blenheim C
Defense June 20, 2024
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Seoul shares up for 3rd day to exceed 2,800 on tech gains
Seoul shares ended higher for the third consecutive session to exceed 2,800 points for the first time in about 2 1/2 years Thursday on tech gains despite concerns over the possible delay of long-awaited US interest rate cuts. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 10.3 points, or 0.37 percent, to close at 2,807.63. The closing index exceeded the 2,800 level for the first time since Jan. 24, 2022, when the comparable reading was 2,828.11. T
Market June 20, 2024
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Financial firms to provide W5tr in loans for real estate projects
Five banks and five insurance firms in South Korea agreed Thursday to provide up to 5 trillion won ($3.6 billion) in additional funding for real estate development projects. The move comes amid government-led efforts to normalize real estate project financing ㅣloans as prices continue to rise, which include the liquidation of failing projects. Under a memorandum of understanding signed Thursday, the five banks and five insurance firms will first create a 1 trillion-won syndicated loan and gradua
Economy June 20, 2024
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S. Korea's auto exports hit record high in May
South Korea's car exports rose 4.8 percent on-year last month to reach a record high for any May, driven by solid demand for eco-friendly vehicles, data showed Thursday. The combined value of car shipments came to $6.5 billion in May, beating the previous record for any May set in 2023, when the value stood at $6.23 billion, according to the Ministry of Trade, Industry and Energy. In terms of volume, car exports advanced 2.9 percent on-year to come to 254,496 units last month. The increase
Market June 20, 2024
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