Articles by Yonhap
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Hyundai Motor union secures wage deal without strike for 6th consecutive year
Hyundai Motor Company's labor and management have concluded their wage negotiations without a strike for the sixth year in a row, agreeing on the highest wage increase in the company's history. The union said Saturday its members have voted to accept a tentative wage deal reached earlier in the week. Under the agreement, Hyundai will increase workers' basic monthly pay by 4.65 percent, or 111,200 won ($81), and give a one-off performance-based bonus equivalent to 500 percent of
Companies July 13, 2024
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Soprano Sumi Jo's singing competition debuts in France
Renowned soprano Sumi Jo has successfully launched her first international vocal competition in France, drawing hundreds of aspiring singers from across the globe. The inaugural Sumi Jo Vocal Competition took place over seven days, beginning last Sunday at the historic Chateau de la Ferte-Imbault in France's Loire Valley. "I pinched myself to see if this competition, which I'd been dreaming of and preparing for, was really happening," the soprano said Friday. "It'
Performance July 13, 2024
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BTS' Jin to carry Olympic torch near Louvre Museum on Sunday: reports
Jin of K-pop supergroup BTS will be the first torchbearer in the Louvre Museum section of the 2024 Paris Olympics torch relay in Paris this weekend, according to local news outlets specializing in Olympic news. The South Korean singer is expected to begin carrying the flame at the Louvre Pyramid at about 8:30 p.m. Sunday. The French domestic torch relay, which began May 8 in Marseille, southern France, has been under way for more than two months. The torch is scheduled to arrive in Paris o
K-pop July 13, 2024
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FM Cho meets Blinken to discuss alliance, joint response to N. Korea-Russia cooperation
Foreign Minister Cho Tae-yul has met with US Secretary of State Antony Blinken on the sidelines of the North Atlantic Treaty Organization summit and discussed the two nations' alliance and ways to jointly deal with growing cooperation between North Korea and Russia, Cho's office said Friday. Cho and Blinken held talks in Washington on Thursday (US time) to discuss the latest outcome of the summit between President Yoon Suk Yeol and US President Joe Biden, and ways to enhance bilate
Foreign Affairs July 13, 2024
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N. Korea condemns NATO statement as 'illegal document'
North Korea on Saturday vehemently objected to the declaration adopted by the leaders of the North Atlantic Treaty Organization last week, labeling it an "illegal document." The declaration "violates the legitimate rights of independent sovereign states and a confrontational program that incites new Cold War and military confrontation on a global scale," according to a statement released by North Korea's foreign ministry through the Korean Central News Agency. On Wedne
North Korea July 13, 2024
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S. Korea urges Japan to drop its repeated claims to Dokdo in defense white paper
South Korea strongly protested Friday after Japan restated its territorial claims to South Korea's easternmost islets of Dokdo as the foreign and defense ministries called in senior officials at the Japanese Embassy in Seoul to lodge a complaint. The move came as the Japanese government adopted the 2024 defense white paper at a Cabinet meeting earlier in the day, in which it reiterated the argument that Takeshima, the Japanese name for Dokdo, is part of its own territory and the issue ove
Diplomatic Circuit July 13, 2024
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Yoon returns home from US trip focused on security
President Yoon Suk Yeol returned home Friday from his five-day trip to the United States that was focused on bolstering security against rising threats posed by deepening military ties between North Korea and Russia. Yoon attended the North Atlantic Treaty Organization summit in Washington on Wednesday and Thursday as South Korea was invited to the summit for the third consecutive year as one of four Indo-Pacific partners alongside Japan, Australia and New Zealand. During the main session and
Foreign Affairs July 12, 2024
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Defense chief vows to strengthen solidarity with France
Defense Minister Shin Won-sik vowed Friday to strengthen solidarity with France and other countries that share common values at an event commemorating France's national day, his office said. Shin made the pledge during the Bastille Day ceremony organized by the French Embassy in Seoul and the French Korean Chamber of Commerce and Industry at the Sebitseom artificial islands on the Han River in Seoul, according to the ministry. This year's Bastille Day falls on Sunday. "The Repub
Foreign Affairs July 12, 2024
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Seoul shares snap 3-day rise on profit-taking
Seoul shares closed lower Friday, snapping a rise for three consecutive sessions, as investors cashed in profits after the US market finished bearish despite slowing inflation data. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 34.35 points, or 1.19 percent, to 2,857. Trade volume was heavy at 399 million shares worth 13.7 trillion won ($9.93 billion), with losers outnumbering gainers 430 to 426. Foreigners sold a net 549 billion won, while i
Market July 12, 2024
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Ex-Ssangbangwool chairman sentenced to imprisonment over N. Korea remittance scandal
A former chairman of the underwear manufacturer Ssangbangwool Group was sentenced to prison on Friday on charges including illegally remitting US$8 million to North Korea in 2019 on behalf of the Gyeonggi provincial government while opposition leader Lee Jae-myung was governor. The scandal centers on allegations that Ssangbangwool illegally transferred US dollars to North Korea in 2019 as expenses for the Gyeonggi government's inter-Korean smart farms project as well as then Gyeonggi Gov. L
Social Affairs July 12, 2024
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Seoul shares open lower as US tech shares tumble
Seoul shares opened lower Friday, tracking overnight losses on Wall Street after investors cashed in profits from major tech shares despite signs of cooling US inflation. The benchmark Korea Composite Stock Price Index shed 23.8 points, or 0.82 percent, to 2,867.55 in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq Composite plunged 1.95 percent, and the S&P 500 dipped 0.88 percent. The Dow Jones Industrial Average, on the other hand, increased 0.08 percent. The US inflatio
Market July 12, 2024
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N. Korea expands inter-Korean railway demolition to Gyeongui line: Seoul
Signs that North Korea has been dismantling part of a western inter-Korean railway have been detected, Seoul's defense ministry said Thursday, the latest in Pyongyang's apparent move to eliminate routes once seen as symbols of inter-Korean exchange and cooperation. The military has detected the North removing ties and rails on the northern side of the Gyeongui line that connects the military demarcation line to the North Korean border city of Kaesong since late June, according to the
North Korea July 11, 2024
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NATO names S. Korea as Indo-Pacific partner for defense industrial cooperation
Leaders of the North Atlantic Treaty Organization have expressed their commitment to expand defense industrial capacity with South Korea and other Indo-Pacific partners to counter Russia during a summit in Washington. The 32 NATO members adopted the NATO Industrial Capacity Expansion Pledge on Wednesday, which aims to ramp up the military alliance's readiness and interoperability between weapons systems to support Ukraine to win an ongoing war against Russia. The document lays out NATO&
World News July 11, 2024
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Enhypen embraces sweet romance with 2nd studio album
K-pop boy group Enhypen embraced a new musical direction, unveiling a bright and romantic song from its upcoming album "Romance: Untold," which captures the heartfelt confessions of a young boy. Set for release on Friday at 1 p.m., the second full-length album from the group follows its fifth EP, "Orange Blood," released last November. "We've released many dark songs in the past, so it feels unfamiliar and nerve-wracking to return with a bright and sweet song as
K-pop July 11, 2024
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Seoul shares up for 3rd day ahead of US inflation data
Seoul shares closed higher Thursday to extend their winning streak to a third day as investors also wait for the US inflation data. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index gained 23.36 points, or 0.81 percent, to 2,891.35. Trade volume was moderate at 453 million shares worth 14.4 trillion won ($10.4 billion), with gainers outnumbering losers 438 to 414. Foreigners bought a net 606 billion won, while individuals sold a net 351 billion won.
Market July 11, 2024
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