Articles by Yonhap
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Seoul shares close lower on tech, auto losses
Seoul shares closed lower Wednesday as most tech stocks and autos finished in negative terrain. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) lost 15.58 points, or 0.56 percent, to close at 2,758.71. Trade volume was moderate at 458.6 million shares worth 10.9 trillion won ($7.87 billion) with losers outnumbering gainer 489 to 368. Foreigners offloaded a net 271.7 billion won worth of local shares, while institutions and retail investors n
Market July 24, 2024
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S. Korea discussed as potential Quad working group partner: US official
South Korea has been discussed as a potential future partner for cooperation with issue-specific working groups of the Quad forum, a US official said Tuesday, noting such discussions still "continue" within the group that consists of the United States, Australia, Japan and India. Camille Dawson, deputy assistant secretary of state for East Asian and Pacific affairs, made the remarks, underscoring that Quad member countries have so far put their "first priority" on solidifying
Foreign Affairs July 24, 2024
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S. Korean cultural influence is causing 'cracks' in rigid NK society: unification minister
Unification Minister Kim Yung-ho on Tuesday underscored the importance of "cultural" approaches to fostering internal change in North Korea, saying the inflow of South Korean pop culture is causing "cracks" in a rigid ideology-based society of the reclusive country. Kim also pointed out North Korean authorities' "sense of crisis" over their people's growing rejection of the North's culture anchored in the ideology of "juche" or self-reliance
Politics July 24, 2024
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Competition begins for S. Korea with preliminary action in archery, handball
The opening ceremony for the Paris Olympics is Friday evening, but there will be preliminary action taking place in the days leading up to the occasion. For South Korea, the action begins with the individual ranking rounds in the women's and men's archery, followed by the Group A match in the women's handball tournament Thursday. The ranking rounds in archery will determine seeding for the tournament. The higher the seed, the better chance an archer has of avoiding tough competiti
More Sports July 24, 2024
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N. Korea again sends trash-carrying balloons into S. Korea: JCS
North Korea again launched balloons presumed to be carrying trash toward South Korea, the Joint Chiefs of Staff (JCS) said Wednesday. The JCS said the balloons appeared to be traveling toward the northern part of Gyeonggi Province that surrounds Seoul, and advised the public to not touch fallen balloons and report them to the military or police. North Korea has launched more than 3,000 trash-carrying balloons since late May, including some 500 such balloons Sunday, in a tit-for-tat move against
North Korea July 24, 2024
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Seoul shares open lower on Wall Street losses
South Korean shares opened lower Wednesday, tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index (Kospi) shed 12.28 points, or 0.44 percent, to 2,762.01 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average lost 57.35 points, or 0.14 percent, to close at 40,358.09, with the Nasdaq slipping 10.22 points, or 0.06 percent, to 17,997.35. In Seoul, large caps traded mixed. Market bellwether Samsung Electronics lost 1.67 percent, with No.
Market July 24, 2024
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Yoon to visit Czech Republic in September to discuss nuclear power project
President Yoon Suk Yeol spoke by phone with Czech Prime Minister Petr Fiala on Tuesday to discuss bilateral cooperation in nuclear energy and other areas, his office said. During their talks, Yoon agreed to visit Prague in September at the request of Fiala to discuss the successful implementation of a major nuclear power plant project following the Czech Republic's selection of a South Korean consortium as the preferred bidder. Yoon said the project will serve as an opportunity for both c
Politics July 23, 2024
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Talks between Samsung Electronics and striking workers end without agreement
Samsung Electronics and its largest labor union resumed wage talks Tuesday but failed to reach an agreement, informed sources said. The ninth round of talks was represented by Son Woo-mok, head of the National Samsung Electronics Union, and Kim Hyeong-ro, the company's vice president, according to the source. It was the first wage talks between the two sides since the NSEU declared a full-scale strike July 8. They held a preparatory meeting last week to discuss schedules for the talks. The
Industry July 23, 2024
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Seoul shares snap 4-day losing streak, tracking US gains
Seoul shares closed higher Tuesday to snap a four-day losing streak, tracking an overnight rebound in US tech stocks. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 10.78 points, or 0.39 percent, to close at 2,774.29. Trade volume was moderate at 416 million shares worth 11.3 trillion won ($8.15 billion), with losers outnumbering winners 494 to 365. Foreign investors purchased 241.2 billion won worth of local shares, while retail investors an
Market July 23, 2024
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Yoon to send special envoys to Czech Republic to discuss follow-up measures for nuclear power project
President Yoon Suk Yeol will send special envoys to the Czech Republic to discuss follow-up measures on the European country's selection of a South Korean consortium as a preferred bidder for a nuclear power plant project, his office said Tuesday. Sung Tae-yoon, the presidential chief of staff for policy, and Industry Minister Ahn Duk-geun were to leave Tuesday on a three-day trip to meet Czech Prime Minister Petr Fiala and Minister of Industry and Trade Jozef Sikela, according to the offic
Foreign Affairs July 23, 2024
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Jamsu Bridge closed due to rising river levels
Jamsu Bridge over the Han River and sections of the Olympic Expressway across southern Seoul were closed Tuesday due to rising river levels caused by heavy rain, city officials said. Torrential rain of up to 30 millimeters per hour, beginning early Tuesday morning, increased water discharge from the Paldang Dam on the eastern upstream side of the Han River, according to the officials. Due to rising water levels in the Han River, both vehicle and pedestrian traffic were prohibited on the submersi
Social Affairs July 23, 2024
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Ruling party set to hold national convention to pick new leader
The ruling People Power Party was set to hold a national convention Tuesday to elect a new party leader to head the embattled party following the party's crushing defeat in April's parliamentary elections. The party convention comes nearly three months after former interim leader Han Dong-hoon resigned after the general elections to take responsibility for the defeat. Han, running again to become the new PPP chief, is leading the race by a relatively significant margin, according to op
Politics July 23, 2024
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Seoul shares open higher on Wall Street rebound
Seoul shares started higher Tuesday, led by gains in chipmakers and autos, tracking overnight gains on Wall Street. Following a fourth straight session of decline, the benchmark Korea Composite Stock Price Index added 32.30 points, or 1.17 percent, to 2,795.81 in the first 15 minutes of trading. Overnight, major US indexes gained ground as big-cap tech shares, including Nvidia, ASML, Microsoft and Alphabet, rebounded after their slump last week. In Seoul, market bellwether Samsung Electronics ro
Market July 23, 2024
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Kim may try to reignite 'bromance' with Trump if he returns to White House: ex-Trump official
North Korean leader Kim Jong-un may try to rekindle his "bromance" with former President Donald Trump if he returns to the White House, a former US official said Monday, predicting Kim could propose a deal to limit his regime's nuclear program in return for American troops' pullout from South Korea. H.R. McMaster, who served as national security advisor for Trump from 2017-2018, made the remarks amid speculation that the GOP presidential nominee, if reelected, could seek dire
North Korea July 23, 2024
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Defense chiefs of South Korea, US, Japan to meet in Tokyo to discuss NK threats
SEOUL, July 22 (Yonhap) -- The defense chiefs of South Korea, the United States and Japan will hold talks in Tokyo next week to discuss issues such as strengthening their trilateral security cooperation in response to North Korea's nuclear and missile threats, the South's defense ministry said Monday. The gathering scheduled for Sunday comes amid tensions on the Korean Peninsula over North Korea's repeated launches of trash-carrying balloons toward South Korea in a tit-for-tat r
Defense July 22, 2024
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