Prosecutors have summarily indicted Suga of K-pop superband BTS on charges of driving an electric scooter under the influence of alcohol, officials said Tuesday. Late at night on Aug. 6, police officers found Suga trying to get up after falling off his electric scooter under the influence of alcohol near his residence in the Hannam neighborhood of the Yongsan district. His blood alcohol concentration was measured at 0.227 percent, far exceeding the 0.08 percent threshold, which is subject to the

Social Affairs Sept. 10, 2024

South Korean shares extended their losing streak to six sessions Tuesday as investors took a cautious approach ahead of key US inflation data that would affect the upcoming rate-setting meeting. The local currency traded lower against the US greenback. The benchmark Korea Composite Stock Price Index lost 12.5 points, or 0.49 percent, to close at 2,523.43. The main index has continued its bearish mode since Sept. 3. Trading volume was light at 341.2 million shares worth 8.3 trillion won ($6.2 bil

Market Sept. 10, 2024

President Yoon Suk Yeol said Tuesday the government will temporarily raise health insurance payments to hospitals for the upcoming Chuseok holiday to better reward their services and to prevent disruptions in emergency medical care. During a Cabinet meeting, Yoon addressed concerns over possible disruptions to the medical system during the extended holiday, which starts later this week, as a majority of junior doctors have stayed away from the job since February in protest of a sharp hike in the

Politics Sept. 10, 2024

Finance Minister Choi Sang-mok has said the government needs to scrap a financial investment income tax and review various tax schemes regarding stock trading in an effort to ease market uncertainty and help boost the stock market. Under the investment income tax scheme, set to take effect next year, capital gains of over 50 million won ($38,000) from stock investments will be subject to a 20 percent tax, while earnings exceeding 300 million won will be subject to a 25 percent tax. "The sch

Economy Sept. 10, 2024

Alibaba Group's AliExpress said Tuesday it will step up marketing campaigns in South Korea with an aim of securing more than half of online shopping platform users in South Korea within three to five years. In a press conference held in Hangzhou, AliExpress Korea Chief Executive Ray Zhang announced the target for the Korean market, which is dominated by local e-commerce giant Coupang Inc. The Chinese e-commerce retail platform has aggressively promoted about 150 million products at competit

Companies Sept. 10, 2024

The head of the financial watchdog on Tuesday called for banks to curb a continuing rise in household lending. Lee Bok-hyun, chief of the Financial Supervisory Service, made the call in a meeting with the heads of 18 banks. "Should we fail to keep household debts at a proper level in the future, it may lead to increased economic burden by expanding market volatility and working as an obstacle to economic growth," Lee told the meeting. Tuesday's meeting follows reports that househo

Politics Sept. 10, 2024

Overnight temperatures in Seoul stayed above 25 C, marking the season's latest tropical night since meteorological observation began, the state weather agency said Tuesday. The lowest nighttime temperature overnight in the capital city was 25.6 C at 6 a.m., another tropical night that refers to a phenomenon where temperatures do not drop below 25 C until 9 a.m., according to the Korea Meteorological Administration. It marks the season's latest tropical night record in Seoul since recor

Social Affairs Sept. 10, 2024

South Korean stocks started lower Tuesday despite overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (Kospi) opened slightly higher but lost 0.48 percent, or 12.09 points, to 2,523.84 in the first 15 minutes of trading. Overnight, major US indices closed higher after the previous week's big losses. The Dow Jones Industrial Average rose 1.2 percent, and the tech-heavy Nasdaq Composite gained 1.16 percent. In Seoul, market heavyweights led the weak opening. Top-ca

Market Sept. 10, 2024

Democratic presidential candidate Kamala Harris and her Republican rival Donald Trump are set to face off against each other in their first -- potentially only -- debate this week, with its outcome expected to substantially impact their final sprint to Election Day in November. The high-stakes 90-minute debate will take place at the National Constitution Center in Philadelphia in the battleground state of Pennsylvania on Tuesday night, as recent polls have shown Vice President Harris and former

Foreign Affairs Sept. 10, 2024

North Korean leader Kim Jong-un has vowed to bolster the country's nuclear capabilities to deter any threats by enemies, saying it is steadily carrying out a policy to increase the number of nuclear weapons exponentially, state media said Tuesday. Kim made the vow during a speech in a meeting with senior party and government officials on the occasion of the 76th founding anniversary of the regime, according to the Korean Central News Agency. The North's leader delivered a speech for th

North Korea Sept. 10, 2024

South Korea head coach Hong Myung-bo said Monday he is bracing for a tough World Cup qualifying match against Oman away from home but he is not about to settle for anything less than a victory. South Korea and Oman will clash Tuesday for their second Group B match in the third round of the Asian qualification for the 2026 FIFA World Cup. The match at Sultan Qaboos Sports Complex in Muscat kicks off at 6 p.m. local time, or 11 p.m. in South Korea. South Korea, world No. 23, got their third round

Soccer Sept. 9, 2024

South Korean center back Kim Min-jae on Monday apologized for his action following a recent World Cup qualifying match against Palestine in Seoul, where he clashed with some fans over their booing. South Korea settled for a goalless draw against Palestine to begin the third round last Thursday in Seoul, despite being 73 spots higher than their opponent in the FIFA rankings at No. 23. Nearly 60,000 fans that flocked to Seoul World Cup Stadium booed South Korea's head coach, Hong Myung-bo, du

Soccer Sept. 9, 2024

New Defense Minister Kim Yong-hyun visited a western frontline unit Monday in his first on-site inspection after taking office last week, the defense ministry said. Kim checked troop readiness at the 2nd Marine Division's observation post at an undisclosed location after assuming his new role Friday, according to the ministry. "If the enemy undertakes a provocation ... punish them fully and sternly until they are unable to carry out more provocations," Kim was quoted as saying. No

Social Affairs Sept. 9, 2024

Yogiyo, a South Korean food delivery app, officially launched the country's first robot delivery service, the company said Monday. The service was introduced in the Songdo district of Incheon, about 40 kilometers west of Seoul, with plans for nationwide expansion in the future, according to Yogiyo. It is the first robot delivery service by a South Korean food delivery app. The self-driving delivery robots will operate within a 1.2-kilometer radius from participating restaurants, delivering

Industry Sept. 9, 2024

Seoul shares ended lower Monday to extend their losing streak to a fifth day amid concerns that the US Federal Reserve may not cut its rate by a large margin. The Korean won traded sharply lower against the US dollar. The benchmark Korea Composite Stock Price Index lost 8.35 points, or 0.33 percent, to close at 2,535.93. Trading volume was moderate at 262.46 million shares worth 7.3 trillion won ($5.4 billion), with gainers outnumbering losers 502 to 371. Foreigners sold a net 540 billion won wo

Market Sept. 9, 2024