Articles by Yonhap
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Top prosecutor condemns DP's impeachment motion as illegal act
Prosecutor General Lee One-seok on Friday denounced the main opposition party's push to impeach four prosecutors, mostly involved in corruption investigations into former party leader Lee Jae-myung, as an illegal act. The Democratic Party submitted the controversial impeachment motion to the National Assembly Legislation and Judiciary Committee earlier this week, triggering criticism from many senior prosecutors. The top prosecutor, who has already criticized the motion as unconstitutional
Politics July 5, 2024
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S. Korea's current account returns to surplus in May
South Korea logged the largest current account surplus in 32 months in May on the back of a sharp rise in the trade surplus and increased dividend income, central bank data showed Friday. The country's current account surplus reached $8.92 billion in May, a turnaround from a deficit of $290 million in April. The May surplus marks the largest since September 2021, when the surplus came in at $9.51 billion. In the first five months of the year, the country's current account surplus reach
Economy July 5, 2024
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Govt. weighing measures to deal with trainee doctors who refuse to return to hospitals
The government has been weighing measures on how to deal with trainee doctors who refuse to return to hospitals in protest of medical reform, according to officials Friday. With most trainee doctors still remaining unresponsive to the government's appeasement measures to help them return to hospitals, officials said the government will soon come up with measures on how to respond to the junior doctors who have left their worksites since late February. Health Minister Cho Kyoo-hong earlier p
Social Affairs July 5, 2024
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Seoul shares open higher ahead of US jobs data
Seoul shares opened higher Friday as investors await US jobs data this week for clues on the Federal Reserve's future policy path. The benchmark Korea Composite Stock Price Index gained 15.66 points, or 0.55 percent, to 2,840.60 in the first 15 minutes of trading. Institutions and foreigners bought a combined 358 billion won ($260 million) worth of stocks, offsetting individuals' stock selling valued at 352 billion won. The US jobs report due Friday is forecast to show slowing job grow
Market July 5, 2024
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Driver in deadly Seoul car crash argues sudden acceleration in police questioning
The driver involved in a recent car crash that killed nine pedestrians in central Seoul argued a sudden unintended acceleration caused the accident in the first police interrogation. The questioning comes three days after the 68-year-old man's Genesis G80 sedan plowed through a sidewalk guardrail and hit pedestrians while traveling against traffic on a one-way road near Seoul City Hall on Monday night. A total of nine people were killed, including six who died at the scene, most of them off
Social Affairs July 4, 2024
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Civic group files complaint with anti-corruption agency again over luxury bag scandal
A civic group filed a complaint with the state anti-corruption agency Thursday for the second time over a luxury bag scandal involving first lady Kim Keon Hee after the case was dropped last month. The People's Solidarity for Participatory Democracy filed the complaint, which included additional evidence of the first lady receiving high-end perfumes and expensive liquors from a Korean American pastor, with the Anti-Corruption and Civil Rights Commission. "Since the complaint last year,
Social Affairs July 4, 2024
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Seoul city to reinforce traffic signs on one-way roads following deadly car crash
The Seoul city government said Thursday it will reinforce traffic signs and road markings on one-way roads as part of safety measures following a deadly car crash that left nine people dead earlier this week. "Although a no-entry traffic sign and a road marking are put up (at the accident site), we plan to reinforce them and install more to make them more noticeable to drivers throughout the day and night," a city official said. On Monday night, a sedan driven by a 68-year-old darted i
Social Affairs July 4, 2024
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No. of elementary school students per class could fall to single-digit levels in decade: teachers' group
The average number of students per elementary school class could fall to single-digit levels in 10 years due to ultralow birth rates, a teachers' group said Thursday. The Good Teachers Movement announced the estimate during a forum held to discuss low birth rates and education reforms, saying the forecast is based on school-age population data that Statistics Korea released in June last year. According to the worst-case scenario, the average number of elementary school students per class co
Social Affairs July 4, 2024
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Parents reject abuse allegations against Son Heung-min's father at football academy
Parents of players training at the football academy run by the father of South Korean football star Son Heung-min on Thursday dismissed child abuse allegations against him. Son Woong-jung, a former player and director of Son Football Academy, and two of his coaches are under investigation over charges that they had physically and verbally abused a young player. In a joint statement issued Thursday, parents of other players said they had never once heard of or seen any corporal punishment at the
Social Affairs July 4, 2024
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Seoul shares rise over 1 pct on rate-cut hope
South Korean stocks finished more than 1 percent higher to hit this year's high Thursday as investor sentiment was boosted by revived hopes for a rate cut in the United States and Samsung Electronics' upcoming earnings guidance. The benchmark Korea Composite Stock Price Index added 30.93 points, or 1.11 percent, to 2,824.94. It marked the highest closing price since Jan. 21, 2022, when it finished at 2,834.29. Trade volume was slim at 386.4 million shares worth 12.8 trillion won ($9.26
Market July 4, 2024
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Finance chief vows preemptive responses to looming 'massive external changes'
Finance Minister Choi Sang-mok called for proactive and preemptive responses Thursday to prevent possible massive changes in external circumstances from affecting South Korean exports so as to maintain economic recovery momentum. Choi made the remarks during a meeting of ministers working on external economic issues in Seoul, stressing the need to stay vigilant given growing geopolitical tensions and growing supply chain risks. "A growing number of major countries have put top priority on t
Economy July 4, 2024
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DP seeks to pass controversial special probe bill on Marine's death at plenary session
The main opposition Democratic Party on Thursday was poised to push for the passage of a bill mandating a special counsel investigation into the military's response to a Marine's death amid fierce protest from the ruling party. The ruling People Power Party has been staging a filibuster since Wednesday afternoon to block the passage of the bill after it was tabled during the National Assembly's plenary session. The special probe bill calls for a special counsel to look into allega
Politics July 4, 2024
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Patients' advocacy groups call on doctors to end walkout
Members of more than 90 patient advocacy groups staged a rally in central Seoul on Thursday, calling for doctors to end the ongoing walkout that has disrupted public health services for nearly five months. The protest, including members from the Korea Alliance of Patients Organization and the Korean Organization for Rare Diseases, came as trainee doctors have left their worksites since late February, causing disruptions in major hospitals, including cancellations and delays in surgeries. "U
Social Affairs July 4, 2024
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Govt. vows support for exports of electric equipment
Industry Minister Ahn Duk-geun said Thursday the ministry plans to offer 2.7 trillion won ($1.94 billion) in trade finance for exports of electric equipment to foster the sector as a new growth engine. Ahn announced the plan during his visit to the headquarters of HD Hyundai Electric Co. in Seongnam, just south of Seoul, to discuss ways to support the electric equipment industry, according to the Ministry of Trade, Industry and Energy. The visit came as the government has been seeking to set str
Economy July 4, 2024
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Seoul shares open higher on US gains
South Korean stocks got off to a strong start Thursday, tracking overnight gains on Wall Street led by hopes for a possible rate hike. The benchmark Korea Composite Stock Price Index gained 23.37 points, or 0.84 percent, to 2,817.38 in the first 15 minutes of trading. In the United States, the S&P 500 index and tech-heavy Nasdaq composite rose to hit record highs backed by Tesla and Nvidia amid softening labor data raising hopes for a rate cut by the Federal Reserve. In Seoul, market bellwet
Market July 4, 2024
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