Articles by Yonhap
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S. Korea, US to hold regular defense talks on deterrence against N. Korea
South Korea and the United States will hold regular defense talks this week to discuss ways to bolster security cooperation and deter North Korean nuclear and missile threats, Seoul's defense ministry said Monday. The Korea-US Integrated Defense Dialogue will take place in Washington on Thursday for discussions on a range of alliance issues ahead of the allies' Nuclear Consultative Group session in June. South Korean Deputy Defense Minister for Policy Cho Chang-rae, Ely Ratner, US assi
Defense April 8, 2024
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N. Korea's Kim sends message to Putin over flooding in Russia
North Korean leader Kim Jong-un has sent a message consoling Russian President Vladimir Putin over heavy floods that hit Russia's southern region, state media said Monday. Kim's message came in response to media reports that Russia declared a federal emergency after heavy floods in the country's Orenburg region forced thousands of people to evacuate. "Kim Jong-un, on behalf of the DPRK government and people and on his own behalf, extended deep consolation to the Russian presi
North Korea April 8, 2024
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Seoul shares open lower despite US gains
South Korean stocks opened lower Monday despite Wall Street gains backed by stronger-than-expected US jobs data. The benchmark Korea Composite Stock Price Index dropped 6.29 points, or 0.23 percent, to 2,707.92 in the first 15 minutes of trading. On Friday, data showed that the US posted the biggest job growth in almost a year in March, indicating a strong economy. Even though the strong labor market may mean interest rates may stay elevated for longer, Wall Street closed higher on the belief th
Market April 8, 2024
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S. Korea successfully launches 2nd spy satellite into orbit
South Korea successfully launched its second indigenous spy satellite on a SpaceX Falcon 9 rocket from Kennedy Space Center in the US state of Florida on Monday, according to the defense ministry. The Falcon 9 lifted off at 7:17 p.m. from the John F. Kennedy Space Center and sent the reconnaissance satellite into orbit approximately 45 minutes after the launch, the ministry said. It succeeded in communicating with an overseas ground station at 10:57 a.m., it noted. It is the second military sate
Defense April 8, 2024
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Senior doctors positively assess Yoon-junior doctors meeting, vow 'unified' response hike plan withdrawal
A major doctors' association on Sunday assessed positively the recent meeting between President Yoon Suk Yeol and the chief of a striking trainee doctors' group despite criticism by some junior doctors, vowing a unified response with trainee doctors and medical professors to the government's medical school quota hike plan. Last week, Yoon met with Park Dan, the head of an emergency committee at the Korea Intern Resident Association, to discuss the ongoing standoff over the plan to
Social Affairs April 7, 2024
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2 S. Korean banks compensate retailers for HK-tied ELS losses
Two South Korean banks have compensated retail investors for their losses involving troubled Hong Kong-tied equity-linked securities (ELS) after financial authorities' probe into possible illegal activities related to the sale of the high-risk notes, industry sources said Sunday. Shinhan Bank and Hana Bank provided the compensation to some of the individual retailers who invested in Chinese shares listed on the Hong Kong bourse through ELS products sold in their outlets, they said. Other ba
Industry April 7, 2024
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S. Korean exports grow rapidly amid lagging domestic recovery: KDI
South Korea's exports have grown rapidly, driven by the strong rebound in the semiconductor sector, though private consumption and investment remain weak, a state-run think tank said Sunday. "The Korean economy is experiencing a moderate downturn, buoyed by rapid growth in exports, particularly from the IT sector," the Korea Development Institute (KDI) said in a monthly economic assessment report. "But consumption remains weak, particularly in goods consumption, as financing
Industry April 7, 2024
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Users of bullet trains KTX, SRT hit record Q1 figures
The number of passengers on South Korea's bullet trains KTX and SRT hit a record high for the first quarter of a year, the trains' operators said Sunday. From January to March, the number of KTX users jumped to 19.26 million from 17.91 million during the same period of last year, according to Korea Railroad. SR Inc. said the number of SRT users rose to 6.43 million from 6.3 million during the same period. The operators said the "pent-up" travel demand after years of the COVID
Social Affairs April 7, 2024
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Regular inter-Korean liaison contact remains severed for 1 year amid frosty ties
Regular communication between the two Koreas through cross-border hotlines has remained severed for one year as the North continues to be unresponsive to calls from the South amid increasingly frosty ties. The two Koreas used to hold routine calls twice a day -- once in the morning and the other in the afternoon -- via liaison and military hotlines, but the North has stopped answering calls from the South since April 7, 2023. The move came a day after Seoul called on Pyongyang to stop its unauth
North Korea April 7, 2024
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FM Cho discusses cooperation, NK threats with NATO chief
South Korea's top diplomat and the chief of the North Atlantic Treaty Organization (have discussed bilateral cooperation, and the ongoing military cooperation between Pyongyang and Moscow during a meeting in Brussels, the foreign ministry said Saturday. The talks between Foreign Minister Cho Tae-yul and NATO Secretary General Jens Stoltenberg on Friday came as Cho visited Brussels for a NATO meeting of foreign ministers earlier this week. In their meeting, Cho said the government is working
Foreign Affairs April 7, 2024
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New girl group ILLIT debuts on British Official Singles chart
Girl group ILLIT has made its debut on the British Official Singles chart with its first single "Magnetic." The song landed at No. 80 on the latest British Official Singles Top 100 unveiled Friday (British time), becoming the first debut song by a K-pop act to hit the prestigious chart. The milestone came just 11 days after the group debuted under Belift Lab, a subsidiary music label of K-pop giant Hybe, on March 25. "Magnetic" is the lead single of the group's first EP,
K-pop April 6, 2024
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Jury finds crypto mogul Kwon liable in US civil fraud trial: reports
A jury in New York found crypto mogul Do Kwon and his company, Terraform Labs, liable on civil fraud charges on Friday, news outlets reported, as he is in Montenegro pending a process to determine whether he should be extradited to his home country, South Korea, or the United States. The jury agreed with the US Securities and Exchange Commission that Kwon and the company misled investors before TerraUSD stablecoin's collapse in 2022, according to Reuters and other outlets. The jury's v
Foreign Affairs April 6, 2024
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Early-voting turnout for general elections hits record 31.28%
Turnout for the two-day early-voting period that wrapped up Saturday ahead of the parliamentary elections next week hit a record 31.28 percent, the election watchdog said. A total of 13,849,043 out of 44,280,011 eligible voters cast their ballots at 3,565 polling stations during the early-voting period that ended at 6 p.m., according to tentative data from the National Election Commission. Those who missed the opportunity this weekend will have to vote on Election Day on Wednesday. It marked the
Politics April 6, 2024
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Russia summons S. Korean ambassador to protest against Seoul's sanctions: Sputnik
Russia's foreign ministry has summoned South Korea's top envoy to Moscow to protest against Seoul's sanctions on its vessels and nationals, Russia's Sputnik news agency reported Friday. On Tuesday, South Korea imposed sanctions on two Russian individuals and their companies involved in the illegal sending of North Korean IT workers overseas, as well as two Russian vessels involved in shipping containers of military supplies between Pyongyang and Moscow. Russian Deputy For
Foreign Affairs April 5, 2024
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Seoul shares dip 1% on dashed rate-cut hopes
Seoul shares dipped 1 percent Friday as investors were disappointed with hawkish comments by Federal Reserve officials ahead of US jobs data. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 27.79 points, or 1.01 percent, to close at 2,714.21. The main index has fallen 1.2 percent this week. Trade volume was moderate at 615.09 million shares worth 11.16 trillion won ($8.2 billion), with decliners outpacing gainers 633 to 244. Institutions and foreig
Market April 5, 2024
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