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S. Korea, Australia hold vice-ministerial talks on Indo-Pacific strategy, bilateral ties
Senior diplomats of South Korea and Australia held talks in Seoul on Tuesday to discuss joint efforts to boost bilateral cooperation in their Indo-Pacific strategies and a wide range of issues, the foreign ministry said. Deputy Foreign Minister Chung Byung-won met with his Australian counterpart, Elly Lawson, deputy secretary of the Strategic Planning and Coordination Group at the Australian foreign ministry, Seoul's ministry said. The two sides shared the view that their bilateral ties a
Foreign Affairs April 16, 2024
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Seoul shares sink over 2% on escalating tension in Middle East
South Korean stocks sank more than 2 percent Tuesday as Israel warned of a retaliation over Iran's drone and missile attack over the weekend. The Korean won also fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index plunged 60.8 points, or 2.28 percent, to close at 2,609.63. Trade volume was moderate at 557 million shares worth 11.9 trillion won ($8.48 billion), with decliners outpacing gainers 771 to 124. Foreigners offloaded a net 272 billion won, while indiv
Market April 16, 2024
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S. Korea to provide $12m to conflict-ridden Sudan
South Korea will provide $12 million in humanitarian assistance to Sudan and the neighboring countries struggling with a yearlong conflict between rival military factions, the foreign ministry said Tuesday. Choi Jai-chul, South Korean Ambassador to France, announced the plan Monday (local time) during an international humanitarian conference in Paris, as he voiced concerns over the worsening situation in Khartoum. "Our government will continue to join international efforts to assist countri
Foreign Affairs April 16, 2024
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Seoul shares open sharply lower as Israel warns of retaliation
South Korean stocks started sharply lower Tuesday tracking overnight losses on Wall Street amid the escalating tension between Israel and Iran. The benchmark Korea Composite Stock Price Index dropped 36.34 points, or 1.36 percent, to 2,634.09 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.65 percent and the tech-heavy Nasdaq declined 1.79 percent. Tensions continued to escalate in the Middle East after Israel warned of retaliation after Iran conducted a dr
Market April 16, 2024
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Senior US officials discuss N. Korea, Taiwan, South China Sea in talks with Beijing officials
Senior US officials discussed with Beijing officials a range of regional and global issues, including North Korea, the Taiwan Strait and the South China Sea during their visit to China this week, the State Department said Monday. Assistant Secretary of State for East Asian and Pacific Affairs Daniel Kritenbrink and National Security Council Senior Director for China and Taiwan Affairs Sarah Beran met with Executive Vice Foreign Minister Ma Zhaoxu and Yang Tao, director general of the North Ameri
North Korea April 16, 2024
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N. Korea has capability to genetically engineer biological military products: US report
North Korea has the capability to genetically engineer biological military products, an annual US report showed Monday, noting Pyongyang has a "dedicated, national-level offensive" biological weapons program. The State Department issued the report, titled "Adherence to and Compliance with Arms Control, Nonproliferation and Disarmament Agreements and Commitments." It was prepared in consultation with the Department of Defense, Department of Energy and the Joint Chiefs of Staff
North Korea April 16, 2024
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S. Korea, US hold NK human rights talks in Washington
Diplomats from South Korea and the United States held a new session of their bilateral dialogue on North Korean human rights in Washington on Monday, as the two sides see a close link between Pyongyang's weapons programs and its rights conditions. Chun Young-hee, director general for the Korean Peninsula peace regime at Seoul's foreign ministry, and Julie Turner, the US special envoy for North Korean human rights issues, led the second session of the dialogue that was relaunched in Nov
North Korea April 16, 2024
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Yoon discusses Mideast tensions, NK issues with US envoy
President Yoon Suk Yeol held talks with the top US envoy to the United Nations on Monday to discuss issues ranging from tensions in the Middle East to UN sanctions against North Korea, his office said. Yoon's meeting with Ambassador Linda Thomas-Greenfield took place at the presidential office as part of her four-day trip to South Korea that also involved talks with the foreign and defense ministers. The two called for joint efforts to help resolve the Mideast crisis and extend comprehensiv
Foreign Affairs April 15, 2024
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US envoy, FM Cho discuss ways to build new mechanism for NK sanctions monitoring
The top US envoy to the United Nations and Foreign Minister Cho Tae-yul discussed ways to build a new mechanism for monitoring the enforcement of UN sanctions on North Korea, Cho's office said Monday, after Russia vetoed a resolution meant to renew the monitoring mandate. The meeting between Cho and Ambassador Linda Thomas-Greenfield came amid growing concerns that Moscow's rejection to extend the mandate for the UN Panel of Experts on North Korean sanctions could undermine internation
Foreign Affairs April 15, 2024
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S. Korea makes positive assessment of $6.4 bln grants for Samsung Electronics
South Korea on Monday reacted positively to a US plan to award up to $6.4 billion in grants to support Samsung Electronics Co.'s chipmaking investment in central Texas, calling it a "favorable" result. The assessment came after Washington said it has reached a nonbinding preliminary agreement with Samsung to provide the grants under the CHIPS and Science Act to support the tech giant's expected investment of more than $40 billion, in the establishment of a "leading-edge
Industry April 15, 2024
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Ex-PPP member attends police questioning for receiving donations via YouTube
An unsuccessful candidate in last week's parliamentary elections appeared before police Monday for questioning on charges of receiving political donations through payments via a YouTube broadcast last year. Jang Ye-chan, a former ruling People Power Party member who quit the party and ran as an independent, has been accused of accepting payments through YouTube's Super Chat function during live streaming in August in violation of the Political Funds Act. Viewers sent as little as 2,000
Politics April 15, 2024
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Seoul shares close lower amid growing Middle East tension; won at 17-month low
South Korean stocks fell 0.42 percent Monday due to heightened geopolitical uncertainties in the Middle East following Iran's recent drone and missile attacks on Israel. The Korean won fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index plunged 11.39 points, or 0.42 percent, to close at 2,670.43, after falling as low as 2,641.16 at one point. Trade volume was moderate at 552 million shares worth 10.3 trillion won ($7.45 billion), with decliners outpacing gain
Market April 15, 2024
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Financial regulator seeks support to help S. Korean member join IASB
The deputy chief of South Korea's financial regulator on Monday sought the support of Andreas Barckow, chief of the International Accounting Standard Board, for the country's efforts to secure a spot on the international board. Kim So-young, vice chairman of the Financial Services Commission, made the request in a meeting in Seoul. The IASB chief is on a visit to South Korea to take part in the International Forum of Accounting Standard Setters, set to be held Wednesday through Frida
Economy April 15, 2024
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Govt. repeats appeal for dialogue with doctors amid prolonged walkout
Health Minister Cho Kyoo-hong once again called on doctors Monday to come forward for dialogue to end the prolonged walkout by junior doctors and present a unified proposal regarding the quota for medical school admissions, stressing its firm will to push for medical reform plans. More than 90 percent of South Korea's 13,000 trainee doctors have walked off the job in protest since Feb. 20 in protest of the government's push to increase the number of medical school seats by 2,000 starti
Social Affairs April 15, 2024
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'Day of Sun' reference over N. Korean late founder's birthday reemerges in state media
North Korean state media referred to the birthday of North Korean late founder Kim Il-sung as the Day of the Sun on Monday after stopping using the term in recent weeks while calling it "the April holiday." Kim's birthday, April 15, has been revered as the Day of the Sun in North Korea and celebrated as one of the secretive country's most important national holidays, along with the birthday of his late son and successor Kim Jong-il in February. The North's founder died
North Korea April 15, 2024
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