Seoul shares ended higher Tuesday, extending their winning streak to a fifth day despite concerns over the Federal Reserve's aggressive rate hikes following hawkish Fed officials' comments. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index added 1.12 points, or 0.05 percent, to close at 2,351.31 points. Trading volume was moderate at 351.76 million share...

South Korea posted the first current account deficit in three months in November as exports sharply dwindled amid growing worries over a global economic recession, central bank data showed Tuesday. The country's current account shortfall amounted to $620 million in November, swinging back from a surplus of $880 million a month earlier, according to the preliminary data from the Bank of Korea. I...

Posco, South Korea's top steelmaker, said Tuesday it has raised $2 billion by selling debts overseas, its largest-ever overseas debt sale. The three-tranche debt comprises three-year bonds worth $700 million, five-year bonds worth $1 billion and 10-year debts valued at $300 million, according to the steelmaker. Posco's bond sale marks the first time a South Korean firm has sold dollar-denominat...

South Korea's new COVID-19 cases fell to the lowest Tuesday tally in 10 weeks in a sign of a downturn in the virus' spread. The country reported 60,041 new COVID-19 infections, including 87 cases from overseas, bringing the total caseload to 29,599,747, the Korea Disease Control and Prevention Agency said. The tally marked the lowest for any Tuesday since Nov. 1, when the country reported 58,35...

On South Korea's 30-man roster for this year's World Baseball Classic, the status of Pittsburgh Pirates first baseman Choi Ji-man is the one big question mark. Following an offseason elbow operation, Choi will need permission from his new club to represent the country at the March tournament. South Korea's manager, Lee Kang-chul, doesn't want to have to resort to plan B. Last week, Lee selected...

Seoul shares opened higher Tuesday as investors remain concerned about the Federal Reserve's aggressive rate hike plans following its officials' recent comments. The benchmark Korea Composite Stock Price Index rose 3.18 points, or 0.14 percent, to 2,353.37 in the first 15 minutes of trading. Fed officials signaled the US central bank could raise rates to somewhere over 5 percent to tame inflati...

SEJONG -- The government plans to dramatically extend the after-school care and education program for elementary school students in an effort to help relieve the burden of child care for working parents, officials have said. Under the extension plan announced by the education ministry on Monday, after-school child care programs provided by elementary schools will be extended to the early morning...

SEONGNAM --Opposition leader Lee Jae-myung appeared at a prosecutors office for questioning over bribery allegations Tuesday, accusing the prosecution of fabricating charges against him. Lee, chairman of the main opposition Democratic Party, arrived at the Seongnam branch of the Suwon District Prosecutors Office located just south of Seoul at 10:20 a.m., surrounded by a large crowd of supporters...

The Hankyoreh newspaper has decided to dismiss a senior reporter for borrowing money from a key culprit in a high-profile development scandal. The newspaper said Tuesday it decided to fire the reporter during a personnel committee meeting the previous day for violating a duty of integrity and fairness required for journalists, as well as the company's ethics code and work rules to avoid conflict...

WASHINGTON -- The United States is prepared to work with South Korea and other countries to address their concerns over the US Inflation Reduction Act, a state department spokesperson said Monday. Ned Price also highlighted the need to keep offshore investment between South Korea and the US robust. "Just as we have said with our European allies, this is a consequential piece of legislation. It'...

K-pop supergroup BTS' eldest member Jin, who is serving in the military, surprised his fans Monday by dropping a special message filmed before his enlistment. “I turned on the video camera because I wanted to leave a message for you,” he said in the video uploaded on the band’s official YouTube channel. Appearing in a white gym suit before he had his hair cropped short, Jin said the vid...

Jose Fernandez, the U.S. under secretary of state for economic growth, energy and the environment, arrived in South Korea on Monday for consultations on a range of bilateral economic issues. Fernandez is the first senior U.S. official to visit Seoul this year, which marks the 70th anniversary of the South Korea-U.S. alliance. He plans to meet Lee Do-hoon, Seoul‘s second vice foreign ministe...

Seoul shares ended higher Monday amid expectations of slower US rate hikes. The Korean won sharply rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 60.22 points, or 2.63 percent, to close at 2,350.19 points. Trading volume was moderate at about 334.74 million shares worth some 6.9 trillion won ($5.2 billion), with gainers outnumbering losers 799 to 93. The Dow J...

BUSAN -- A fire engulfed a parking tower in the southern port city of Busan on Monday, but no injuries were reported, fire officials said. The fire broke out at 6:32 a.m. at the parking structure connected to a building with residential and commercial units in downtown Busan, according to the Busan Metropolitan City Fire Disaster Headquarters. The fire agency said no injuries have been reported...

South Korea's new COVID-19 cases fell to the lowest in nine weeks Monday amid the government's efforts to contain the inflow of the virus from China. The country reported 19,106 new COVID-19 infections, including 109 cases from overseas, bringing the total caseload to 29,539,706, the Korea Disease Control and Prevention Agency said. Monday's tally marked a decrease since Nov. 7, when the countr...