The share of female executives at South Korea's major firms has more than doubled over the past five years on positive factors, including last year's implementation of a related law, a corporate tracker said Tuesday. A total of 265 firms belonging to the country's top 30 business groups had a combined 726 women executives as of end-March, accounting for 6.9 percent of their total 10,561 C-suite positions, according to the Leaders Index. The proportion was up 3.7 percentage points

Social Affairs Sept. 19, 2023

Leader Kim Jong-un has crossed back into North Korea after a trip to Russia that "opened a new chapter" for the development of the bilateral relations between the two nations, Pyongyang's state media reported Tuesday. Kim passed through the Tumangang Railway Station on the border between the two countries on early Monday morning, according to the official Korean Central News Agency. Kim, who left Pyongyang on his armored train on Sept. 10, held a summit with Russian President Vlad

North Korea Sept. 19, 2023

President Joe Biden expressed his appreciation Monday to South Korea and other countries for helping achieve the return of five American citizens who were detained in Iran. Biden issued a statement celebrating their release under a rare swap deal with Tehran that reportedly saw around $6 billion in Iranian funds frozen in South Korean banks under US sanctions unlocked. "I am grateful to our partners at home and abroad for their tireless efforts to help us achieve this outcome, including the

Foreign Affairs Sept. 19, 2023

South Korea and the United States are nearing completion to revise their joint deterrence strategy document against North Korea's military threats, Seoul's defense officials said Monday, as the allies held regular defense talks here. The two sides evaluated progress in the ongoing efforts to revise the "Tailored Deterrence Strategy" (TDS) during the biannual Korea-US Integrated Defense Dialogue (KIDD) earlier in the day, officials said, with the revision set to be complete by

Defense Sept. 18, 2023

South Korean stocks tumbled more than 1 percent Monday led by sharp losses in semiconductor and tech shares ahead of a US rate-setting meeting. The local currency gained ground against the dollar. The benchmark Korea Composite Stock Price Index lost 26.56 points, or 1.02 percent, to finish at 2,574.72, erasing the previous session's 1.1 percent jump. Trading volume was moderate at 408.4 million shares worth 8.6 trillion won ($6.5 billion), with decliners outpacing winners 548 to 330. Offsho

Market Sept. 18, 2023

South Korea's finance ministry said Monday it has revised down its annual tax revenue estimate to 341.4 trillion won ($256.7 billion), mainly due to weak corporate earnings and a slump in the property market. The latest revision is down 59.1 trillion won from its previous outlook of 400.5 trillion won, according to the Ministry of Economy and Finance. To tackle the decline in tax revenue, the government also unveiled plans to utilize surplus resources, including those from the foreign excha

Economy Sept. 18, 2023

The anti-corruption investigation office has demanded the prosecution indict former Defense Minister Song Young-moo over suspicions of abuse of power, officials said Monday. The Corruption Investigation Office for High-ranking Officials has been investigating Song on suspicions of forcing then senior ministry officials to make and endorse documents refuting a media report that he had said a controversial contingency martial law plan authored by the previous Park Geun-hye government "legally

Politics Sept. 18, 2023

South Korean imports of Japanese seafood fell for the fifth consecutive month in August on concerns over Japan's release of treated radioactive water, government data showed Monday. Seoul imported $7.81 million worth of fishery products from the neighboring country last month, down 34.8 percent from a year earlier, according to the data from the Korea Customs Service. August posted the largest on-year decline this year, and last month's import value was the smallest monthly figure in t

Economy Sept. 18, 2023

South Korean stocks started weaker Monday as investors take a cautious approach ahead of a US rate-setting meeting later this week. The benchmark Korea Composite Stock Price Index dropped 10.44 points, or 0.4 percent, to 2,590.84 in the first 15 minutes of trading. The Federal Reserve will hold the Federal Open Market Committee on Tuesday and Wednesday and likely hold key rates steady. But the market expects the US central bank may deliver one more rate hike this year, given the solid economic r

Market Sept. 18, 2023

Opposition leader Lee Jae-myung was taken to a hospital on Monday due to deteriorating health as his hunger strike entered the 19th day, officials said. Lee was almost unconscious after showing a sharp drop in blood sugar levels and was brought to a nearby hospital at 7:10 a.m., according to his main opposition Democratic Party. It is unclear whether Lee will be able to continue his fast, and the party plans to keep a close watch on his conditions after emergency measures are taken, party spokes

Politics Sept. 18, 2023

Unionized rail workers were returning to work Monday after a four-day general strike staged to demand better working conditions and an expansion of the KTX bullet train service. The Korean Railway Workers' Union began the first walkout in about four years on Thursday, demanding the expansion of the KTX bullet train route to Suseo Station in southern Seoul, the starting point of another high-speed rail service SRT, as well as the full implementation of the four-team two-shift system. The uni

Social Affairs Sept. 18, 2023

President Yoon Suk Yeol sent a letter to Pope Francis on the occasion of the 60th anniversary of the establishment of diplomatic relations between South Korea and Vatican City, expressing his hope to deepen the friendly and cooperative partnership, his office said Sunday. Yoon sent the letter via Kang Seung-kyoo, senior presidential secretary for civil society, who has been visiting the city-state as a special presidential envoy. During a meeting with the pope on Saturday, Kang conveyed Yoon

Politics Sept. 17, 2023

Suga, a member of the K-pop sensation BTS, will begin his mandatory military service this week, his agency announced Sunday. BigHit Music said Suga, 30, will fulfill his military duty by doing an alternative service beginning Friday. Suga will be the third member of the group to join the military. Jin enlisted in December 2022, and J-Hope followed suit in April this year. In early August, Suga, rapper and producer for the group, withdrew his request to delay the start of his mandatory service. U

K-pop Sept. 17, 2023

South Korea will send $2 million in humanitarian aid to flood-stricken Libya, the foreign ministry said Sunday. The aid will be sent via the United Nations Office for the Coordination of Humanitarian Affairs and the International Federation of Red Cross and Red Crescent Societies, the ministry said. More than 13,300 people have died since a powerful typhoon struck Libya's eastern coastal city of Derna last Sunday and caused devastating flooding, according to the U.N. "We hope this ai

Foreign Affairs Sept. 17, 2023

Passenger travel on air routes connecting to China in August recovered to around half of the 2016 level before Beijing restricted travel to South Korea in 2017 over a row over Seoul's hosting of a US missile defense system, data showed Sunday. The number of travelers on such routes came to 931,272 in August, which accounts for around 45 percent of the 2.06 million posted in the same month of 2016, according to the Ministry of Land, Infrastructure and Transport. In 2017, China banned group t

Mobility Sept. 17, 2023