South Korean shares rose Monday, as investors bet on a US rate cut. The local currency slightly lost ground against the US dollar. The benchmark Korea Composite Stock Price Index added 6.69 points, or 0.25 percent, to close at 2,681.00. Trade volume was moderate at 262.5 million shares worth 8.5 trillion won ($6.35 billion), with losers outnumbering gainers 534 to 325. Foreign investors ended their six-day selling streak, purchasing a net 239 billion won worth of local shares, while institutions

Market Sept. 2, 2024

Health Minister Cho Kyoo-hong on Monday tried to soothe concerns about hospital emergency rooms, as some doctors have warned of a potential disruption of emergency care due to a prolonged walkout by trainee doctors. "Although there are some difficulties, we believe that emergency rooms are capable of maintaining operations," Cho told an SBS radio. "The issues extend beyond emergency rooms to follow-up treatments, which were present even before the walkout by the medical community,

Politics Sept. 2, 2024

South Korean stocks opened lower Monday with most large caps in negative terrain. The benchmark Korea Composite Stock Price Index shed 7.73 points, or 0.29 percent, to 2,666.58 in the first 15 minutes of trading. The index had dipped more than 1 percent Thursday on reports of worse-than-anticipated performance by artificial intelligence giant Nvidia, before slightly rebounding on bargain hunting the following day. US stocks closed higher Friday on growing hopes of a US rate cut, with the US Fede

Market Sept. 2, 2024

South Korea and Japan have been in last-minute arrangements for the agenda of Japanese Prime Minister Fumio Kishida's visit, a senior official at the office of President Yoon Suk Yeol said Sunday. "Final arrangements on the itinerary and agenda are being discussed," the senior presidential official told reporters, without providing further details. Japan's Kyodo News earlier reported Kishida was considering holding summit talks with Yoon in South Korea in early September befo

Politics Sept. 1, 2024

President Yoon Suk Yeol will not attend the opening ceremony of the regular session of the National Assembly early this week, a presidential official said Sunday, citing the opposition party's unilateral actions to pass critical bills. The National Assembly is set to begin its regular session on Monday and it is customary for the president to attend the opening event and deliver a speech. "It is appropriate to first normalize the National Assembly, which has been misusing special couns

Politics Sept. 1, 2024

YEONGAM, South Korea -- One person died and four others were injured Sunday in an apparent act of arson at a game hall in the southwestern county of Yeongam, police and fire authorities said. The fire was put out 20 minutes after a report was filed at 1:29 p.m. but a Chinese national was found dead, they said. One of the four employees and visitors who suffered injuries was reportedly in a critical condition. A preliminary probe showed that the Chinese national allegedly started the fire and tha

Social Affairs Sept. 1, 2024

Banks in South Korea started tightening curbs on mortgage loans on Sunday, officials said, amid concerns over rising housing prices in Seoul and household debts. The move came as the Financial Services Commission asked banks to toughen screenings for new mortgage borrowers and to reduce the size of loans available under the tightened criteria. The stress debt service ratio (DSR), which measures how much a borrower has to pay for principal and interest in proportion to their yearly income, serves

Economy Sept. 1, 2024

Exports of hybrid cars by Hyundai Motor Co. and its affiliate Kia Corp. jumped 35.2 percent on-year in the first seven months of this year, industry data showed Sunday. Hyundai Motor and Kia exported a total of 222,818 hybrid vehicles between January and July, compared with 164,851 units for the same period last year, according to data from the Korea Automobile & Mobility Association. Hyundai Motor, in particular, saw its exports of hybrid vehicles soar 58.3 percent on-year to 141,032 units.

Mobility Sept. 1, 2024

South Korea's exports extended their on-year gains for the 11th straight month in August, driven by strong demand for semiconductors, data showed Sunday. Outbound shipments rose 11.4 percent on-year to $57.9 billion last month, according to data compiled by the Ministry of Trade, Industry and Energy. Imports increased 6 percent on-year to $54 billion, resulting in a trade surplus of $3.83 billion. South Korea has maintained a trade surplus for 15 consecutive months. By sector, exports of ch

Economy Sept. 1, 2024

Leaders of the ruling People Power Party and the main opposition Democratic Party are set to hold their first official talks Sunday, party officials said. PPP leader Han Dong-hoon is scheduled to meet with Lee Jae-myung, who was reelected as the chief of the DP in August, at the National Assembly at 2 p.m. Sunday for a 90-minute meeting. They are expected to discuss various issues, including a special counsel probe into a young Marine's death and a new investment tax policy. Han and Lee will dis

Politics Sept. 1, 2024

Shooter Park Jin-ho won South Korea's second gold medal of the Paris Paralympics on Saturday, winning the men's 10-meter air rifle standing SH1 event. Park scored 249.4 points for the gold at the Chateauroux Shooting Centre in Chateauroux, south of Paris, beating Yerkin Gabbasov of Kazakhstan who scored 247.7 points. South Korea has won four medals at the Paris Paralympics in shooting alone, including pistol shooter Jo Jeong-du's gold in the men's 10-meter air pistol event on

More Sports Sept. 1, 2024

The government said Saturday it has ramped up disinfection efforts and inspections following a confirmed African swine fever outbreak at a pig farm in Gimpo, Gyeonggi Province, aiming to prevent the disease from spreading as the nation prepares for the upcoming Chuseok holiday. The Central Disaster Management Headquarters convened an emergency meeting to review and implement preventive measures, particularly critical with Chuseok approaching in two weeks. The outbreak, confirmed Saturday, mark

Social Affairs Aug. 31, 2024

JYP Entertainment has vowed strong legal actions against deepfake content involving its artists, amid growing concerns over the proliferation of sexually exploitative deepfake videos. "We are pursuing a robust legal response with no leniency towards deepfake videos, in collaboration with a specialized law firm," the company behind the popular K-pop girl group TWICE said on Friday. "We take the spread of deepfake videos featuring our artists very seriously," it said, adding

K-pop Aug. 31, 2024

A former baseball player has been ordered to pay a substantial penalty to San Diego Padres' shortstop Kim Ha-seong for violating an agreement between the two. The Seoul Central District Court ruled in Kim's favor on Friday in a lawsuit against Lim Hye-dong for breach of contract, mandating the defendant to pay 800 million won ($597,000). The dispute originated from a scuffle between the two at a Seoul bar in February 2021. Lim had demanded a settlement from Kim, who was then completi

Social Affairs Aug. 31, 2024

WASHINGTON -- Republican presidential candidate Donald Trump said Friday that "getting along" with North Korean leader Kim Jong-un is a "good thing," after his Democratic rival Kamala Harris vowed not to "cozy up to" dictators like Kim. During a campaign rally in Pennsylvania, a key battleground state, former President Trump again boasted about his personal ties with the North Korean leader, as he and the vice president are in a tight race with the presidential elec

Foreign Affairs Aug. 31, 2024