Articles by Yonhap
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S. Korea, US hold new round of talks on defense cost sharing
South Korea and the United States held a new round of negotiations Tuesday on sharing the cost for the upkeep of the 28,500-strong US Forces Korea, Seoul's foreign ministry officials said. The three-day talks in Seoul came about two weeks after South Korea's chief negotiator Lee Tae-woo and his U.S. counterpart, Linda Specht, held the third round of negotiations on the Special Measures Agreement (SMA) in Washington. Tuesday's talks lasted for about seven hours until 5 p.m. "
Foreign Affairs June 25, 2024
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Seoul shares close higher on bargain hunting
Seoul shares closed higher Tuesday as investors hunted for bargains, with logistics and automobile shares leading the overall gains. The Korean won gained against the US dollar. The benchmark Korea Composite Stock Price Index added 9.66 points, or 0.35 percent, to 2,774.39. Trade volume was moderate at 703.6 million shares worth 11.4 trillion won ($8.2 billion), with gainers outnumbering losers 492 to 375. Foreigners sold a net 143.5 billion won, while individuals offloaded a net 304 billion won
Market June 25, 2024
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N. Korea launches some 350 trash-carrying balloons overnight: Seoul military
North Korea has launched around 350 trash-carrying balloons toward South Korea overnight, Seoul's military said Tuesday, in what marked the fifth launch of its kind since late last month. Some 100 balloons, mostly carrying scrap paper and waste, landed in Seoul and in the northern part of Gyeonggi Province, the Joint Chiefs of Staff said in a notice to reporters. As of 9 a.m., there were no balloons floating in the air, while an analysis of retrieved balloons showed they did not contain t
North Korea June 25, 2024
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S. Korea, US sign MOU on diplomatic intelligence cooperation
South Korea and the United States signed a memorandum of understanding (MOU) on cooperating in the exchange of diplomatic intelligence analyses, Seoul's foreign ministry said Tuesday. Park Jang-ho, director general for diplomatic intelligence at South Korea's foreign ministry, signed the MOU with Brett Holmgren, US assistant secretary of state for intelligence and research, in Washington on Monday. The signing came as the allies have been working to establish a framework for collaborat
Foreign Affairs June 25, 2024
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Campbell stresses Washington Declaration as deterrence tool amid security concerns over Putin-Kim summit
US Deputy Secretary of State Kurt Campbell on Monday highlighted deterrence steps of last year's summit declaration between South Korea and the United States as tools to harness amid resurgent calls for the allies to craft stronger defense measures following last week's summit between Russia and North Korea. After Russian President Vladimir Putin and North Korean leader Kim Jong-un signed a "comprehensive strategic partnership" treaty in a show of their deeper military ties i
Foreign Affairs June 25, 2024
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Seoul shares open higher on autos, chemicals
Seoul shares opened higher Tuesday as investors scooped up auto and chemical shares, despite a slump in technology shares on Wall Street. The benchmark Korea Composite Stock Price Index fell 6.69 points, or 0.24 percent, to 2,771.42 in the first 15 minutes of trading. Overnight, the Nasdaq Composite plunged 1.09 percent, and the Dow Jones Industrial Average added 0.67 percent. Nvidia, which briefly shot up to become the most valuable firm last week, plunged 6.68 percent, with other technology fi
Market June 25, 2024
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Planned start of stricter rules on household loans to be postponed until September
The financial regulator said Tuesday that the planned implementation of stricter rules on household loans will be postponed until the start of September amid various risk factors facing the financial market. The country was originally set to implement a second phase formula for floating rate stress debt service ratio (DSR) at the start of next month. The government "has decided through consultations with related organizations to implement the second phase DSR steps from Sept. 1," the F
Economy June 25, 2024
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N. Korea sends trash-carrying balloons again to S. Korea: Seoul military
North Korea on Monday sent balloons presumed to be carrying trash toward South Korea again, Seoul's military said. The Joint Chiefs of Staff said the balloons appeared to be travelling in a southeastern direction from the northern part of Gyeonggi Province that surrounds Seoul. It advised the public to not touch fallen balloons and report them to military or police authorities. On Friday, Kim Yo-jong, the influential sister of the North's leader, hinted about launching more balloons af
North Korea June 24, 2024
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Yoon visits site of battery plant fire that killed at least 22
President Yoon Suk Yeol visited the site of a battery plant fire that killed at least 22 people on Monday and ordered government officials to draw up measures to prevent similar accidents from occurring, his office said. Yoon decided to visit the plant run by lithium battery maker Aricell in Hwaseong, 45 kilometers south of Seoul, to carry out an emergency inspection after being briefed on the fire by Interior Minister Lee Sang-min, according to his office. Yoon earlier instructed the minister a
Politics June 24, 2024
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N. Korea vows 'overwhelming, fresh' deterrence measures against arrival of U.S. aircraft carrier
North Korea on Monday condemned the U.S. sending of a nuclear-powered aircraft carrier to the Korean Peninsula, saying that the North is open to taking "overwhelming and fresh" deterrence measures against such a provocative act. North Korean Vice Defense Minister Kim Kang-il issued a statement slamming the arrival of the USS Theodore Roosevelt in the southeastern port city of Busan on Saturday. Kim slammed Washington and Seoul for playing "very dangerous" games in a show of f
North Korea June 24, 2024
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All-Star closer for Tigers sidelined with shoulder injury
The Kia Tigers announced Monday their All-Star closer Jung Hai-young will be sidelined for at least two weeks with a shoulder injury. The Tigers, currently in first place in the Korea Baseball Organization (KBO), said Jung, the 22-year-old right-hander, has been diagnosed with rotator cuff tendinitis in his right shoulder. Jung was lifted during Sunday's game against the Hanwha Eagles after facing four batters due to shoulder discomfort. He had a preliminary test done on Sunday and went thr
Baseball June 24, 2024
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Seoul shares down for 2nd day on SK hynix, batteries
Seoul shares closed lower Monday as SK hynix plunged by nearly 5 percent and battery makers remained in negative terrain. The benchmark Korea Composite Stock Price Index fell 19.53 points, or 0.7 percent, to 2,764.73. Trade volume was moderate at 580.2 million shares worth 10.8 trillion won ($7.8 billion), with losers outnumbering winners 637 to 233. Foreigners and institutions sold local shares worth 386 billion won and 94.4 billion won, respectively, while retail investors purchased 464.7 bill
Market June 24, 2024
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S. Korea, US to hold 4th round of defense cost sharing talks this week
South Korea and the United States will hold their fourth round of negotiations on sharing the cost for the upkeep of the 28,500-strong American troops here, a foreign ministry official said Monday. The talks on the Special Measures Agreement will take place in Seoul from Tuesday through Thursday, led by Lee Tae-woo, South Korea's chief negotiator for the talks, and Linda Specht, the US lead negotiator for security agreements at the State Department, the official said. The current six-year S
Defense June 24, 2024
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N. Korean leader exchanges greetings with Laotian president to mark 50th anniversary of diplomatic ties
North Korean leader Kim Jong-un has exchanged greetings with Laotian President Thongloun Sisoulith to mark the 50th anniversary of the establishment of diplomatic relations between the two countries, North Korea's state media reported Monday. "Over the past 50 years, our two countries have established and developed solid ties based on comradely friendship and revolutionary obligation in the struggle to accomplish the socialist cause," according to Kim's message released by th
North Korea June 24, 2024
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S. Korea completes deployment of Surion utility helicopter to Army
The state arms procurement agency said Monday it has completed the operational deployment of the locally built Surion utility helicopter to the Army, more than a decade after the first unit's delivery. South Korea began delivering the KUH-1 Surion helicopter to the Army in late 2012, after a seven-year development period starting in 2006. It was designed to replace the Army's aging fleet of US-made UH-1H and 500MD helicopters. The Army now operates more than 200 Surions, which carry ou
Defense June 24, 2024
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