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US envoy, FM Cho discuss ways to build new mechanism for NK sanctions monitoring
The top US envoy to the United Nations and Foreign Minister Cho Tae-yul discussed ways to build a new mechanism for monitoring the enforcement of UN sanctions on North Korea, Cho's office said Monday, after Russia vetoed a resolution meant to renew the monitoring mandate. The meeting between Cho and Ambassador Linda Thomas-Greenfield came amid growing concerns that Moscow's rejection to extend the mandate for the UN Panel of Experts on North Korean sanctions could undermine internation
Foreign Affairs April 15, 2024
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S. Korea makes positive assessment of $6.4 bln grants for Samsung Electronics
South Korea on Monday reacted positively to a US plan to award up to $6.4 billion in grants to support Samsung Electronics Co.'s chipmaking investment in central Texas, calling it a "favorable" result. The assessment came after Washington said it has reached a nonbinding preliminary agreement with Samsung to provide the grants under the CHIPS and Science Act to support the tech giant's expected investment of more than $40 billion, in the establishment of a "leading-edge
Industry April 15, 2024
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Ex-PPP member attends police questioning for receiving donations via YouTube
An unsuccessful candidate in last week's parliamentary elections appeared before police Monday for questioning on charges of receiving political donations through payments via a YouTube broadcast last year. Jang Ye-chan, a former ruling People Power Party member who quit the party and ran as an independent, has been accused of accepting payments through YouTube's Super Chat function during live streaming in August in violation of the Political Funds Act. Viewers sent as little as 2,000
Politics April 15, 2024
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Seoul shares close lower amid growing Middle East tension; won at 17-month low
South Korean stocks fell 0.42 percent Monday due to heightened geopolitical uncertainties in the Middle East following Iran's recent drone and missile attacks on Israel. The Korean won fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index plunged 11.39 points, or 0.42 percent, to close at 2,670.43, after falling as low as 2,641.16 at one point. Trade volume was moderate at 552 million shares worth 10.3 trillion won ($7.45 billion), with decliners outpacing gain
Market April 15, 2024
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Financial regulator seeks support to help S. Korean member join IASB
The deputy chief of South Korea's financial regulator on Monday sought the support of Andreas Barckow, chief of the International Accounting Standard Board, for the country's efforts to secure a spot on the international board. Kim So-young, vice chairman of the Financial Services Commission, made the request in a meeting in Seoul. The IASB chief is on a visit to South Korea to take part in the International Forum of Accounting Standard Setters, set to be held Wednesday through Frida
Economy April 15, 2024
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Govt. repeats appeal for dialogue with doctors amid prolonged walkout
Health Minister Cho Kyoo-hong once again called on doctors Monday to come forward for dialogue to end the prolonged walkout by junior doctors and present a unified proposal regarding the quota for medical school admissions, stressing its firm will to push for medical reform plans. More than 90 percent of South Korea's 13,000 trainee doctors have walked off the job in protest since Feb. 20 in protest of the government's push to increase the number of medical school seats by 2,000 starti
Social Affairs April 15, 2024
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'Day of Sun' reference over N. Korean late founder's birthday reemerges in state media
North Korean state media referred to the birthday of North Korean late founder Kim Il-sung as the Day of the Sun on Monday after stopping using the term in recent weeks while calling it "the April holiday." Kim's birthday, April 15, has been revered as the Day of the Sun in North Korea and celebrated as one of the secretive country's most important national holidays, along with the birthday of his late son and successor Kim Jong-il in February. The North's founder died
North Korea April 15, 2024
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US envoy to UN to meet S. Korea's defense chief in Seoul
The top US envoy to the United Nations will meet with South Korea's defense chief Monday as part of her trip to Seoul this week for talks to boost bilateral cooperation amid North Korean threats. Ambassador Linda Thomas-Greenfield arrived in the country Sunday for a four-day visit, with plans to meet senior South Korean officials, including Defense Minister Shin Won-sik, to discuss cooperation in the UN Security Council. The visit comes after Russia last month vetoed the UN's annual re
Foreign Affairs April 15, 2024
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S. Korea to extend fuel tax cut through June amid Middle East tensions
The government will extend the tax cut on fuel consumption by an additional two months amid growing tensions in the Middle East, Finance Minister Choi Sang-mok said Monday. South Korea has applied a 25 percent discount on the consumption of gasoline and a 37 percent discount on the consumption of diesel and liquefied petroleum gas, which were supposed to expire at the end of this month. The government began implementing a fuel tax cut scheme in 2021 and has extended it eight times so far, with t
Economy April 15, 2024
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Seoul shares open sharply lower on Iran's attack against Israel
South Korean stocks started sharply lower Monday amid growing geopolitical instability in the Middle East sparked by Iran's missile and drone strikes against Israel. The benchmark Korea Composite Stock Price Index dropped 33.9 points, or 1.26 percent, to 2,647.92 in the first 15 minutes of trading. Iran conducted the attack Saturday in retaliation for Israel's airstrike on Iran's diplomatic complex in Syria earlier this month. Tech shares opened bearish, with Samsung Electronics f
Market April 15, 2024
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US ambassador to UN set to arrive in S. Korea
The top US envoy to the United Nations will visit South Korea on Sunday for engagements to advance bilateral and trilateral cooperation on North Korean threats and other issues. During her four-day stay in South Korea, Ambassador Linda Thomas-Greenfield plans to meet senior Seoul officials to discuss ways to step up cooperation in the UN Security Council. The ambassador's visit comes after Russia last month vetoed the UN's annual renewal of an expert panel monitoring the North's c
Foreign Affairs April 14, 2024
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Presidential office says it will take time to name new PM, chief of staff after election defeat
A senior official at the presidential office said Sunday it will take time to name candidates for a new prime minister and chief of staff, after the resounding defeat of the ruling party in last week's parliamentary elections. The official told Yonhap News Agency that some media outlets have reported that the office of President Yoon Suk Yeol may announce a personnel reshuffle as early as Sunday, but "it is not physically possible." "It needs a minimum amount of time to find
Politics April 14, 2024
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N. Korea's Kim vows to further develop ties with China
North Korean leader Kim Jong-un met with China's top legislator, Zhao Leji, in Pyongyang and discussed ways to further deepen bilateral ties, the North's state media said Sunday. During the luncheon meeting held Saturday, Kim said Zhao's visit to Pyongyang is "of very weighty significance in demonstrating the invincibility of the DPRK-China friendship and further developing the traditional friendly and cooperative relations between the two countries as required by the times,&
North Korea April 14, 2024
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China's top legislator meets N. Korean leader to deepen ties
China's top legislator Zhao Leji met North Korean leader Kim Jong-un in Pyongyang on Saturday as they move to further strengthen bilateral ties, according to foreign news media. Zhao is the first high-ranking Chinese official to visit the North since the outbreak of the COVID-19 pandemic in early 2020. In his meeting with the No. 3 official in the Chinese Communist Party, Kim said Pyongyang is "unwaveringly" committed to cementing and further developing its cooperative ties with B
North Korea April 13, 2024
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Yoon likely to soon name new chief of staff after election defeat
President Yoon Suk Yeol is expected to name a new presidential chief of staff Sunday at the earliest in what would be his first move to overhaul state affairs after a resounding defeat in this week's parliamentary elections, sources at the presidential office said Saturday. After his party's crushing defeat in Wednesday's parliamentary elections, Yoon has delivered a message through his chief of staff that he will "humbly uphold the people's will" shown in the opposition's landslide vi
Politics April 13, 2024
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