Articles by Yonhap
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Seoul shares open higher on Samsung
South Korean stocks opened slightly higher Tuesday backed by strong earnings performance by top cap Samsung Electronics and overnight US stock gains. The benchmark Korea Composite Stock Price Index gained 7.81 points, or 0.29 percent, to 2,665.25 in the first 15 minutes of trading. Samsung Electronics, the world's largest memory chip manufacturer, announced earlier in the day its first quarter operating profit shot up more than tenfold from a year ago in the first quarter, with its chip bus
Market April 30, 2024
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S. Korea to issue travel ban on Haiti amid intensifying gang violence
South Korea will impose a travel ban on Haiti next month due to increasing safety concerns as gang violence is escalating in the Caribbean nation, the foreign ministry has said. The Level 4 travel advisory, the highest of the four-scale system, will go into effect Wednesday, and it will be applied to all areas of the island nation, the ministry said. The ministry cited the security situation in Haiti that has recently worsened due to the deadly attacks led by a gang coalition and the leadership
Foreign Affairs April 30, 2024
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Industrial output falls by most in 4 years in March
South Korea's industrial output logged the sharpest fall in about four years after four months of monthly gains in March on falling manufacturing production, data showed Tuesday. Retail sales, however, rebounded on rising demand for food and vehicles, among other items, amid concerns about weak domestic demand, according to the data compiled by Statistics Korea. Industrial output declined 2.1 percent in March from a month earlier, the first fall since October, It also marked the sharpest fa
Economy April 30, 2024
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Late Dutch veteran of Korean War to be laid to rest in S. Korea
The remains of a late Dutch veteran of the 1950-53 Korean War arrived in South Korea on Monday in line with his wishes to be buried in the country, Seoul's veterans ministry said. The ministry held a ceremony to mark Ferdinand Titalepta's return to South Korea at Incheon International Airport, just west of Seoul, following his remains' arrival in the country aboard a plane earlier in the day. The remains are scheduled to be interred at the UN Memorial Cemetery in Busan, 320 kilo
Defense April 29, 2024
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Seoul shares jump over 1% on battery, chemical stocks
Seoul shares closed over 1 percent higher Monday on advances in battery and chemical shares amid a slump in techs. The local currency slightly fell against the US dollar. The benchmark Korea Composite Stock Price Index added 31.11 points, or 1.17 percent, to close at 2,687.44. Trade volume was moderate at 461 million shares worth 10.2 trillion won ($7.4 billion), with gainers outnumbering losers 719 to 165. Foreigners remained net buyers for a second consecutive session, scooping up a net 415.9
Market April 29, 2024
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N. Korea installs mines on inter-Korean road within DMZ
North Korea has installed land mines on an inter-Korean road within the Demilitarized Zone separating the two Koreas, a South Korean military official said Monday, the latest in a series of moves to shut down cross-border roads. The military detected the North laying mines on the unpaved road inside the DMZ late last year near Arrowhead Hill in Cheorwon, 85 kilometers northeast of Seoul, according to the official. The path was created under a 2018 inter-Korean military agreement to connect the S
North Korea April 29, 2024
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SK Innovation's Q1 net loss widens on FX losses
SK Innovation Co., South Korea's leading refiner by sales, said Monday its net losses widened in the first quarter from a year earlier due mainly to foreign-exchange losses. Net losses deepened to 97.62 billion won ($71 million) in the first quarter from 51.95 billion won in the year-ago period, the company said in a statement. "A weak won, which drove up import prices of crude oil and decreased equity gains from SK On, weighed on the quarterly bottom line," a company spokesperson
Industry April 29, 2024
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Govt. to deploy more medical staff as senior doctors at 5 major hospitals take weekly breaks
Health Minister Cho Kyoo-hong said Monday that the government plans to deploy more medical staff as senior doctors at five major hospitals in Seoul decided to take a weekly day off starting this week. Cho also renewed a pledge to accomplish medical reform, although a mass walkout by trainee doctors has crippled public health services at major hospitals for more than two months. The government will "further strengthen the emergency treatment system by sending more medical personnel to preven
Social Affairs April 29, 2024
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Seoul shares open higher on large cap gains
South Korean stocks opened higher Monday on large cap gains, tracking advances on Wall Street last week. The benchmark Korea Composite Stock Price Index added 13.6 points, or 0.51 percent, to 2,669.93 in the first 15 minutes of trading. The advance follows Wall Street gains last week. The Dow Jones Industrial Average closed 0.4 percent higher Friday, while the tech-heavy Nasdaq spiked 2.03 percent. In Seoul, most large caps were in positive terrain. Market bellwether Samsung Electronics went up
Market April 29, 2024
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N. Korea decries US shipment of long-range tactical missiles to Ukraine as 'mean' policy
North Korea condemned the United States on Monday for sending longer-range tactical missiles to Ukraine for use in its fight against Russia, claiming that Washington cannot turn the tide of the war with such a "mean" policy. The White House confirmed last week that the US has sent a "significant" number of Army Tactical Missile Systems missiles to Ukraine for use inside the Ukrainian territory following Russia's use of North Korean ballistic missiles against Kyiv. An unn
North Korea April 29, 2024
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S. Korea, Cuba agree to open diplomatic missions
South Korea and Cuba have agreed to open diplomatic missions in each other's countries, Seoul's foreign ministry said Sunday, as a follow-up step to the establishment of their diplomatic relations earlier this year. A South Korean delegation, led by Song Si-jin, director general for planning and management at the foreign ministry, visited Havana from Wednesday through Saturday and discussed efforts to open the missions with Cuban officials, the ministry said in a release. "The t
Foreign Affairs April 28, 2024
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2.2 magnitude quake hits near southern county of Hapcheon
A 2.2 magnitude earthquake struck near South Korea's southern county of Hapcheon on Sunday, the weather agency said. The quake struck 11 kilometers northeast of the county 242 km southeast of Seoul at 10:33 a.m. at a latitude of 35.61 degrees north and a longitude of 128.28 degrees east at a depth of 14 km, according to the Korea Meteorological Administration. The agency advised people to watch out for their safety as shaking may be felt in areas near the epicenter of the quake. About 50 pe
Social Affairs April 28, 2024
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
The incoming head of South Korea's leading doctors' lobby group reiterated on Sunday the call for the government to scrap the planned medical school quota hike in order to initiate dialogue with the medical community. About 12,000 trainee doctors have left their worksites since Feb. 20 in protest of the plan to boost the number of medical students by 2,000, causing delays in medical treatments, with some emergency rooms partially limiting their treatment of critically ill patients. Lim
Social Affairs April 28, 2024
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New head of doctors' association vows war in case of disadvantage to medical professors
The new head of the doctors' association vowed Saturday to wage an all-out war against the government in case of any disadvantage to medical professors considering taking weekly breaks in support of the ongoing walkout by junior doctors. Lim Hyun-taek, the president-elect of the Korean Medical Association, is known for his hawkish stance in the ongoing stalemate with the government regarding an increase in the medical school enrollment quota. "The Ministry of Health and Welfare's treatment
Social Affairs April 28, 2024
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S. Korean stock markets' trading volume down 11% in April
South Korean stock markets' trading volume dipped 11 percent in April from a month earlier amid growing uncertainties, including the geopolitical tension stemming from the Middle East, data showed Sunday. The combined daily average trading volume in the main Kospi, tech-heavy KOSDAQ and small businesses-focused KONEX markets, came to 20.2 trillion won ($14.6 billion) in April as of Friday, according to the Korea Exchange, the country's bourse operator. The amount marked an 11 percent d
Market April 28, 2024
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