South Korean stocks started a tad higher on Tuesday despite overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index rose 15.98 points, or 0.64 percent, to 2,511.64 in the first 15 minutes of trading. In the United States, major stock indices closed in negative territory, with the Dow Jones Industrial Average losing 0.16 percent and the Nasdaq Composite declining 0.07 percent. In Seoul, large-cap shares led the positive start. Market bellwether Samsung Electronics rose 0.

Market Nov. 28, 2023

North Korea's actions taking place along the inter-Korean border are raising the risk of military tensions and miscalculations, a State Department spokesperson said Monday, as the recalcitrant regime began reinstalling guard posts and heavy firearms there. Seoul's defense ministry has said that North Korean troops were spotted installing temporary guard posts and carrying weapons inside the Demilitarized Zone separating the two Koreas, after Pyongyang declared it would not be bound by

North Korea Nov. 28, 2023

North Korea said Tuesday the country's military spy satellite has taken photos of the White House, the Pentagon and nuclear aircraft carriers docked at a US naval base. Leader Kim Jong-un viewed the photos on Monday and Tuesday when he received an operations report from the Pyongyang General Control Center of the National Aerospace Technology Administration, according to the official Korean Central News Agency said. He observed satelite photos of the White House and the Pentagon taken at 11:36 p

North Korea Nov. 28, 2023

Hyundai Motor plans to halt its factory in Asan, South Korea, to construct an electric vehicle plant in the period between Dec 31. 2023 to Feb. 13 2024, the South Korean automaker said in a regulatory filing on Monday. Hyundai Motor said it plans to resume operations at the Asan factory on Feb. 14.

Industry Nov. 27, 2023

South Korea and the China-led Asian Infrastructure Investment Bank (AIIB) discussed ways Monday to boost bilateral cooperation on the financial sector and conduct various joint infrastructure projects, the finance ministry here said. The discussion took place during the meeting between Finance Minister Choo Kyung-ho and AIIB President Jin Liqun held in Seoul earlier in the day, according to the Ministry of Economy and Finance. Choo asked for the AIIB chief's support for South Korean com

Market Nov. 27, 2023

DEIR AL-BALAH, Gaza Strip — The fragile cease-fire between Israel and Hamas was back on track Sunday as the militants freed 17 more hostages, including 14 Israelis and the first American, in a third exchange under a four-day truce that the US said it hoped would be extended. In turn, Israel released 39 Palestinian prisoners. Most hostages were handed over directly to Israel, waving to a cheering crowd as they arrived at an air force base. Others left through Egypt. Israel’s army said

World News Nov. 27, 2023

Two Taiwanese display makers have been ordered to pay a combined 32.8 billion won ($25.1 million) in damages to LG Electronics Inc. for fixing the prices of LCD panels, sources said Monday. The Seoul Central District Court recently delivered the ruling in a compensation suit filed by LG and six of its overseas branches in January 2014 against AUO Corp. and HannStar Display Corp., both based in Taiwan. AUO, formerly AU Optronics Corp., and nine other LCD manufacturers and distributors were accuse

Companies Nov. 27, 2023

President Yoon Suk Yeol's approval rating increased for two consecutive weeks to 38.1 percent, according to a poll released Monday. The survey, conducted by the polling agency Realmeter, showed that the positive assessment of Yoon's performance went up by 2.5 percentage points from the previous week, while 58.9 percent of respondents disapproved of his performance, down 3.1 percentage points. Yoon's approval rating, which had previously lingered in the mid-30 percent range since t

Politics Nov. 27, 2023

South Korea is set to attend an international cyberdefense exercise led by the North Atlantic Treaty Organization for the first time to enhance collaboration with NATO in the cyberspace domain, the defense ministry said Monday. NATO's flagship annual cyber exercise, called Cyber Coalition 2023, takes place in Estonia from Monday to Friday, involving 35 NATO members and partners as well as the European Union to strengthen their joint ability to counter threats in the cyber domain. South Kore

Defense Nov. 27, 2023

South Korea will double the maximum limit of purchases eligible for an immediate tax refund by foreign tourists to 5 million won ($3,831) next year to attract overseas visitors and bolster the tourism industry, the finance ministry said Monday. Currently, the country provides on-the-spot tax refunds for an individual purchase of up to 500,000 won at designated stores, with a maximum cap being set at 2.5 million won on total payments. "Starting Jan. 1, 2024, the maximum per-payment amount fo

Economy Nov. 27, 2023

North Korea claimed Monday that South Korea has breached a 2018 inter-Korean military accord and other key agreements between the two Koreas, condemning joint military drills between Seoul and Washington as a provocative act that violates the military accord. The condemnation came as North Korea vowed last week to resume all military measures halted under the 2018 deal and deploy new weapons to the border in response to Seoul's partial suspension of the military tension reduction accord ove

North Korea Nov. 27, 2023

The weak economic momentum, along with the hope for the Federal Reserve's rate freeze next month and moderating inflation, may prod South Korea's central bank to keep its policy rate unchanged again this week. But the Bank of Korea is likely to say that it will keep its restrictive monetary policy stance amid still high inflation and soaring household debts. On Thursday, the BOK is widely predicted to leave the rate, which currently stands at 3.5 percent, unchanged, which would be the seventh st

Economy Nov. 27, 2023

North Korean leader Kim Jong-un cast his ballot in local elections held over the weekend to pick new deputies for local assemblies of provinces, cities and counties across the nation, state media reported Monday, with voter turnout recorded at almost 100 percent. Kim visited a polling station set up in South Hamgyong Province on Sunday and voted for candidates who ran in the elections in the region, according to the official Korean Central News Agency. North Korea's local elections are held

North Korea Nov. 27, 2023

Seoul shares opened higher Monday amid decreased volatility on Wall Street. The benchmark Korea Composite Stock Price Index rose 4.77 points, or 0.19 percent, to 2,501.40 in the first 15 minutes of trading. On Friday, US stocks closed mixed, with the Dow Jones Industrial Average up 0.33 percent and the tech-heavy NASDAQ down 0.11 percent. The volatility index, Wall Street's fear gauge, hit the lowest since January 2020 at 12.46 as market participants expected the Federal Reserve is near the

Market Nov. 27, 2023

Terry Venables, the former manager of England's national soccer team and clubs including Tottenham Hotspur and Barcelona, has died aged 80 after an illness, his family said on Sunday. "We are totally devastated by the loss of a wonderful husband and father who passed away peacefully yesterday after a long illness," the family said in a statement. (Reuters)

Soccer Nov. 26, 2023