Five Russian university students have arrived in NK for a language program, marking Russian students' first entry to Pyongyang after a four-year hiatus since the outbreak of the COVID-19 pandemic, the Russian Embassy in Pyongyang said Friday. The students from MGIMO University of the Russian Foreign Ministry visited the embassy Wednesday, and they will participate in a language program at Kim Il Sung University, the Russian Embassy said on its Telegram account. "We wish MGIMO students

North Korea Aug. 23, 2024

A US senator, known for his close ties to former President Donald Trump, said Thursday that he will visit Seoul next month to attend an annual trilateral economic meeting between South Korea, the United States, and Japan. Sen. Bill Hagerty, who served as the US ambassador to Japan from 2017-2019 during Trump's presidency, plans to participate in the second annual Trilateral Economic Dialogue on Sept. 4 that will bring together private- and public-sector leaders from the three countries. The

Foreign Affairs Aug. 23, 2024

South Korean stocks opened lower Friday after three consecutive sessions of gains as investors cashed in profits ahead of Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium. The benchmark Korea Composite Stock Price Index fell 10.91 points, or 0.4 percent, to 2,696.76 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.43 percent lower, with the S&P 500 falling 0.89 percent. The tech-heavy Nasdaq composite decreased 1.67 perce

Market Aug. 23, 2024

The chair of the Senate Foreign Relations Committee anticipated Thursday that Vice President Kamala Harris would pursue the denuclearization of the Korean Peninsula as a foreign policy goal should she win the White House in the Nov. 5 presidential election. Sen. Ben Cardin of Maryland, a Democrat, made the remarks as questions have lingered over the omission of the denuclearization goal in the recently approved Democratic policy platform, which is expected to help set the tone for Harris' p

Foreign Affairs Aug. 23, 2024

BUCHEON, Gyeonggi Province (Yonhap) -- One person was killed and four others were in cardiac arrest following a fire at a hotel in Bucheon, just west of Seoul, on Thursday, police said. According to the Gyeonggi Province firefighting headquarters, the fire began on the eighth floor of the nine-story hotel at 7:39 p.m. "We're currently putting out the fire and trying to rescue people, so we haven't determined the exact number of casualties," a firefighting official said. "

Social Affairs Aug. 22, 2024

Police said Thursday they have launched an investigation into threatening messages posted on the website of the German Embassy in Seoul. Nearly 100 messages have been posted on the website since Tuesday, including threats to install explosives at the embassy or blow up key facilities, such as Seoul Station and Asan Medical Center, according to Namdaemun Police Station. The texts were written in German, Korean and Japanese, police said. The messages did not indicate when the explosions would take

Social Affairs Aug. 22, 2024

South Korean stocks ended slightly higher on Thursday, extending their winning streak to a third day as investors await more clues over the US rate policy direction amid the Bank of Korea's rate freeze. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index added 6.54 points, or 0.24 percent, to close at 2,707.67. Trade volume was moderate at 434 million shares worth 8.83 trillion won ($6.61 billion), with losers outnumbering gainers 597 to 283. For

Market Aug. 22, 2024

A Seoul court of appeals, reversing a ruling by a district court, ordered Japan's Nippon Steel Corp. on Thursday to pay compensation of 100 million won ($74,750) to four children of a deceased South Korean victim of Japan's wartime forced labor. The appellate division of the Seoul Central District Court made the ruling in a lawsuit filed by the descendants of the victim, surnamed Jeong, who demanded 200 million won, claiming he was forcibly mobilized to work for the Japanese company�

Foreign Affairs Aug. 22, 2024

Prime Minister Han Duck-soo said Thursday that South Korea will push to expand free trade agreements (FTAs) with emerging markets in Asia and Africa to boost the export-driven economy and enhance supply chain resilience. Han unveiled the trade policy road map during a ministerial meeting to address challenges from the rapidly changing global trade environment and supply chain disruptions. "We will expand the FTA network in major emerging markets, including Asia and Africa, to support local

Economy Aug. 22, 2024

Police have opened an investigation into a pro-North Korean online media outlet founded by Korean American pastor Choi Jae-young on suspicion of violating the National Security Act, officials said Thursday. Choi, who has made headlines for secretly filming himself handing over a luxury handbag gift to first lady Kim Keon Hee in 2022, reportedly participated in the creation of the media outlet in 2018. The Incheon Metropolitan Police Agency, 33 kilometers west of Seoul, has been investigating an

Social Affairs Aug. 22, 2024

The CEO of Binggrae Co., South Korea's major dairy maker, was indicted for assaulting a police officer under the influence of alcohol, judicial officials said Thursday. The Seoul Western District Prosecutors Office indicted Kim Dong-hwan, the oldest son of Kim Ho-youn, the former chairman of the food company, on charges of obstruction of official duties last week. Kim, 41, is accused of beating a police officer who arrived at the scene after a resident filed a complaint against him for kick

Social Affairs Aug. 22, 2024

The number of patients hospitalized for COVID-19 showed signs of abating, health authorities said Thursday. Although the weekly number of COVID-19 inpatients grew last week, the growth rate of hospitalization plunged, according to the Korea Disease Control and Prevention Agency. The number of COVID-19 patients in 220 hospitals last week came to 1,444, up 5.7 percent from a week earlier, the KDCA said. That compared with 1,366 patients in the second week of this month, up 55.2 percent from a week

Social Affairs Aug. 22, 2024

The chief of the financial regulator on Thursday emphasized the need to reform the country's online payment system following massive payment delays at two e-commerce platforms. Kim Byoung-hwan, head of the Financial Services Commission, said the government will also seek to establish new regulations governing payment gateway (PG) service providers. "The recent TMON and WeMakePrice incident was a problem that occurred under the complex payment system in a newly emerging industry such as

Economy Aug. 22, 2024

South Korean stocks opened higher Thursday after the minutes from the Federal Reserve's rate policy meeting showed that the "vast majority" of its policymakers support a rate cut next month. The benchmark Korea Composite Stock Price Index added 7.53 points, or 0.28 percent, to 2,708.66 in the first 15 minutes of trading. Overnight, the Fed released the minutes of the FOMC meeting on July 30-31, which showed that the policymakers believed that it would "likely be appropriate t

Market Aug. 22, 2024

The "vast majority" of the US Federal Reserve's policymakers indicated it might be appropriate to start lowering the benchmark interest rate next month should progress on inflation continue, the minutes of the central bank's monetary policy meeting last month showed Wednesday. The Fed released the minutes of the Federal Open Market Committee meeting on July 30-31. At the meeting, the bank held its key rate at the 5.25 to 5.50 percent range for an eighth consecutive time, but

Economy Aug. 22, 2024