The professional basketball team KCC Egis will relocate its home base from the southwestern city of Jeonju to Busan on the southeast coast. The Korea Basketball League on Wednesday approved a proposal to move the team's home city during a board meeting held at the KBL center in southern Seoul. The KCC Egis was founded in 2001 in Jeonju after acquiring the Hyundai Gullivers, a team based in the central city of Daejeon, and moving the home city. With the approval, the team will bid farewell t

More Sports Aug. 30, 2023

The government has requested the prosecution to investigate an additional 375 people for their alleged involvement in illegal activities related to renewable energy projects during the previous Moon Jae-in administration, including the installation of solar panels, officials said Wednesday. The Office for Government Policy Coordination, under the Prime Minister's Office, earlier revealed the findings of a nationwide investigation into corruption allegations surrounding the allocation of sub

Politics Aug. 30, 2023

Seoul shares opened higher Wednesday, tracking overnight gains on Wall Street, amid hopes that the US Federal Reserve may pause its tightening campaign. The benchmark Korea Composite Stock Price Index rose 20.93 points, or 0.82 percent, to 2,573.09 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average rose 0.9 percent and the tech-heavy Nasdaq Composite climbed 1.7 percent. Latest US economic data, including decreased job openings and weakened consumer confidence, has r

Market Aug. 30, 2023

The outcome of the historic trilateral summit held at Camp David earlier this month represents the strong commitment of three equal and powerful countries that are focused on promoting peace and security throughout their shared region, a senior White House official said Tuesday. Kurt Campbell, National Security Council coordinator for Indo-Pacific affairs, also highlighted the countries' commitment to institutionalize their three-way cooperation. "I thought what was on display in Camp

Defense Aug. 30, 2023

The United States remains open to dialogue with North Korea, a White House spokesperson said Tuesday, after North Korea's reclusive leader called US President Joe Biden and his South Korean, Japanese counterparts "gang bosses." North Korean leader Kim Jong-un accused Biden, South Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida of driving the situation on the Korean Peninsula to the brink of a "nuclear war" during his recent visit to the North

Defense Aug. 30, 2023

President Yoon Suk Yeol met with Sen. Todd Young (R-IN) on Tuesday and discussed ways to develop bilateral ties, his office said. During their meeting at the presidential office, Yoon said South Korea and the United States are optimal economic cooperation partners sharing the common values of freedom and democracy, which can combine the US' competitiveness in technology and South Korea's competitiveness in manufacturing, presidential spokesperson Lee Do-woon said in a written briefin

Foreign Affairs Aug. 29, 2023

President Yoon Suk Yeol met with a visiting United Arab Emirates official Tuesday and discussed ways to deepen bilateral ties, his office said. During the meeting with Khaldoon Khalifa Al Mubarak, chairman of the Executive Affairs Authority of Abu Dhabi, over lunch, Yoon once again expressed his gratitude for the UAE's hospitality during his state visit to the country in January, according to the presidential office. Yoon said the bilateral relationship has developed rapidly in the past y

Foreign Affairs Aug. 29, 2023

President Yoon Suk Yeol called Tuesday for achieving inter-Korean reunification based on a firm belief in liberal democracy, saying "communist totalitarian forces" will not stop their attempt to disturb free society. Yoon made the remark during a meeting with new leaders of the Peaceful Unification Advisory Council, a presidential body that helps establish and implement bipartisan policies on democratic and peaceful unification. "Communist totalitarian forces, the forces that blin

Politics Aug. 29, 2023

South Korea and China are in talks to arrange a summit between Presidents Yoon Suk Yeol and Xi Jinping on the sidelines of a multilateral summit event early next month, officials said Tuesday. The discussions come as bilateral relations appear to be thawing following tensions in recent months over Yoon's remarks on Taiwan and the Chinese ambassador to Seoul's thinly veiled warning against South Korea's alignment with the United States. "The two countries' diplomatic au

Foreign Affairs Aug. 29, 2023

Kia Corp., South Korea's second-biggest carmaker by sales, said Tuesday one of its eight domestic plants will be suspended until early September due to a fire in its paint shop. Eight industrial robots in the paint shop of Kia's No. 3 plant in Hwaseong, just south of Seoul, were affected by a fire Monday evening, a company spokesperson said. The No. 3 Autoland Hwaseong plant will be suspended until Sept. 6, he said. The plant produces the K5 sedan, the K8 sedan and the all-electric EV

Mobility Aug. 29, 2023

Seoul shares ended higher Tuesday, tracking gains on Wall Street, with investors awaiting economic data over the next few days for clues on the outlook for global central banks' monetary policies. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 8.75 points, or 0.34 percent, to close at 2,552.16. Trading volume was moderate at 434.48 million shares worth 8.15 trillion won ($6.2 billion), with gainers outnumbering decliners 622 to 248. O

Market Aug. 29, 2023

South Korea, the United States and Japan staged a trilateral missile defense exercise in the international waters south of the Korean Peninsula on Tuesday in response to North Korea's purported space rocket launch last week, officials said. The exercise took place south of the southern island of Jeju after Pyongyang's attempt to launch its Chollima-1 rocket, carrying what it claimed to be a military reconnaissance satellite, was unsuccessful last Thursday, its second failure this year.

Foreign Affairs Aug. 29, 2023

Foreign Minister Park Jin has held a flurry of discussions with leaders of European nations to seek support for South Korea's bid to host the 2030 World Expo, his office said Tuesday. On the sidelines of the 2023 Bled Strategic Forum held in Slovenia the previous day, Park held bilateral talks with his counterparts from Armenia, North Macedonia, Slovakia and Switzerland, and paid a courtesy visit to Bulgarian Prime Minister Nikolay Denkov. Park stressed that the southeastern port city of Bu

Foreign Affairs Aug. 29, 2023

South Korea will export "hanwoo," or premium Korean beef, to Cambodia for the first time, the agriculture ministry said Tuesday. The two nations signed the first contract for South Korean beef to be exported to the Southeast Asian country Monday, eight years after reaching an agreement on quarantine negotiations, according to the Ministry of Agriculture, Food and Rural Affairs. South Korea aims to export 2,000 tons of hanwoo worth US$100 million over the next five years, it added. In M

Industry Aug. 29, 2023

Hyundai Engineering & Construction Co., South Korea's No. 2 builder, has placed 11th among global construction companies in terms of overseas sales, an industry report showed Tuesday. Hyundai E&C posted $6.83 billion in overseas sales in 2022, up 18.6 percent from a year earlier and the 11th-largest worldwide, according to the 2023 international builder ranking by the US trade journal Engineering News Record. Hyundai E&C's 2023 ranking was up two notches from the previous y

Industry Aug. 29, 2023