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Yoon, Trump, in phone call, agree to hold meeting at early date
President Yoon Suk Yeol held a phone call with US President-elect Donald Trump on Thursday to congratulate him on his "landslide victory," and they agreed to hold an in-person meeting at an early date, according to Yoon's office. Yoon congratulated Trump on his victory with the "Make America Great Again" slogan and expressed hope for continued collaboration with the United States under his leadership, Principal Deputy National Security Adviser Kim Tae-hyo told reporters.
Foreign Affairs Nov. 7, 2024
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Seoul shares open weak after Trump's victory
South Korean stocks opened lower Thursday on concerns over a shift in US trade and economic policies following former US President Donald Trump's comeback. The benchmark Korea Composite Stock Price Index lost 8.27 points, or 0.32 percent, to 2,555.24 in the first 15 minutes of trading. Overnight, major US indexes closed at record highs after Trump won the 2024 US presidential election as investors expected lower taxes and deregulation. The Dow Jones Industrial Average jumped 3.5 percent, an
Market Nov. 7, 2024
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S. Korea logs current account surplus for 5th month in September
South Korea racked up a current account surplus for the fifth consecutive month in September, driven by robust exports, central bank data showed Thursday. The country's current account surplus reached $11.12 billion in September, marking a surplus for the fifth consecutive month following a $6.5 billion surplus in August, according to data compiled by the Bank of Korea. The country's goods account racked up a $10.67 billion surplus in September following a $6.52 billion surplus the mon
Economy Nov. 7, 2024
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Yoon, NATO chief discuss joint responses against North Korea's troop deployment to Russia
President Yoon Suk Yeol and the North Atlantic Treaty Organization Secretary General Mark Rutte held a phone conversation Wednesday to discuss coordinated responses to North Korea's troop deployment to Russia in support of its war in Ukraine. Yoon held his third phone talks with Rutte in less than a month, following a South Korean delegation's recent visit to NATO, the European Union and Ukraine to discuss North Korea's troop dispatch to Russia. During the call, Yoon said Seoul is
Foreign Affairs Nov. 6, 2024
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South Korean trade authorities prepare trade shifts after Trump's victory
South Korean trade authorities on Wednesday began discussing strategies in response to potential US trade policies under Donald Trump's second term as president. The Ministry of Trade, Industry and Energy said it convened an emergency meeting to review potential policy responses centered around Trump's campaign pledges. The ministry has been closely monitoring and analyzing the possible impacts of the US election outcome on major industries, including semiconductors, automobiles, batte
Industry Nov. 6, 2024
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South Korean won tumbles after Trump wins US presidential election
The South Korean currency fell sharply against the US dollar during intra-day trading Wednesday after Donald Trump won the US presidential election. The South Korean won was trading at 1,400.5 won to the dollar as of 8:20 p.m., marking the first time to surpass the 1,400 won threshold since April 16. The won opened at 1,374 won at 9 a.m., up 4.6 won from the previous session. But the won-dollar rate reversed course in the morning, with the US dollar strengthening on news that Trump held an advan
Economy Nov. 6, 2024
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South Korean biz community hopes for stronger Korea-US cooperation
South Korea's major business organizations on Wednesday joined in congratulating Donald Trump on his victory in the US presidential election, urging him to strengthen Seoul-Washington cooperation. The Korean Chamber of Commerce and Industry congratulated Trump on his election victory, emphasizing that the Korea-US trade and economic partnership is anchored in a strong security alliance. The KCCI expressed hope for continued bilateral relations under the incoming Trump administration, adding
Industry Nov. 6, 2024
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Return of 'dealmaker' Trump throws S. Korea-US alliance into flux
A second Donald Trump administration is expected to bring shifts and unpredictability to the US-South Korea alliance, potentially increasing pressure on Seoul to take on a larger share of the burden as a US ally, experts said Wednesday. Another key focus will be how Trump might address North Korea's denuclearization, especially amid growing skepticism about Washington's commitment to this goal, as well as his approach to Russia's war in Ukraine, where North Korean troops have been
Foreign Affairs Nov. 6, 2024
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North Korean leader may seek another summit with Trump, but chances for deal seen as slimmer
North Korean leader Kim Jong-un may seek another summit over its nuclear program with US President-elect Donald Trump following his second-term win, but the chances for a meaningful deal appear to be lower, given the North's enhanced nuclear capabilities, analysts said. During his first term, Trump hosted the first-ever summit between American and North Korean leaders with Kim in Singapore in 2018, followed by another summit in Hanoi, Vietnam, the next year. But they failed to produce a dea
North Korea Nov. 6, 2024
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Trump likely to reshape US policy on alliance, North Korea under 'America First' credo: experts
President-elect Donald Trump is expected to reorient America's approach to the alliance with South Korea, North Korea's nuclear quandary, trade and other key policy issues, experts said, as he is poised to put his "America First" credo front and center. Trump's second-term administration would return to a diplomatic playbook that could put pressure on US allies to jack up their defense spending and take greater security responsibilities, and curtail the United States
Politics Nov. 6, 2024
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South Korean industries likely to revisit US investment plans after Trump win
With former US President Donald Trump's successful reelection to the White House, South Korean industries with major investments in America may be expected to realign their US business strategies amid an anticipated shift in Washington's economic and trade policies. Many in the South Korean business community forecast a second Trump administration to pursue strong protectionist trade policies centered on American interests. In particular, industries here are closely watching the poss
Industry Nov. 6, 2024
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Trump wins US election, foreshadows policy shift
Republican flag-bearer Donald Trump won the US presidential election on Wednesday, the Associated Press reported, amid expectations that his victory could reorient America's approach to the alliance with South Korea, North Korea's military threats, trade and other key foreign policy issues. Former President Trump crossed the Electoral College threshold of 270 votes as he clinched victories in key battleground states, including Pennsylvania, Georgia and North Carolina, in the general election sho
Politics Nov. 6, 2024
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Increased bets on Trump victory send won to 2-yr low, Seoul stocks down for 2nd day
The South Korean won dipped to a two-year low against the US dollar Wednesday on increased bets on Republican nominee Donald Trump's victory in the US presidential election. Korean stocks ended lower for the second consecutive day. The local currency was trading at 1,396.2 won against the greenback at 3:30 p.m., down 17.6 won from the previous session, the lowest since November 7, 2022, when the rate closed at 1,401.20. Investors rushed to buy US dollars as Trump's victory heralds an i
Market Nov. 6, 2024
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Harris, Trump secure expected wins in reliable states as vote counting proceeds
Democratic presidential candidate Kamala Harris and her Republican rival Donald Trump secured anticipated wins in states favoring their respective parties on Tuesday, as political attention gravitates to key battleground states that will likely decide the outcome of this year's general election. With vote counting under way, Harris won New Jersey, New York, Illinois, Delaware and other Democratic-leaning states, while Trump clinched victories in Florida, Alabama, Mississippi, Texas, Ohio and oth
World News Nov. 6, 2024
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SK Telecom Q3 net income down 9.1% on non-operating cost
SK Telecom Co., South Korea's leading mobile carrier, said Wednesday its third-quarter net profit decreased 9.1 percent from a year earlier due to an increase in non-operating costs. Net profit for the July-September period came to 280.2 billion won ($202.1 million), down 9.1 percent from a year ago, the company said in a regulatory filing. Its operating profit rose 7.1 percent on-year to 533.3 billion won, while sales increased 2.9 percent to 4.53 trillion won. The company said its net pro
Industry Nov. 6, 2024
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