Articles by Yonhap
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Portion of foreign buyers hits record high in S. Korean real estate market in 2023: data
The portion of foreigners who bought real estate in South Korea last year hit a record high, led by Chinese buyers, court data showed Sunday. A total of 15,600 foreign nationals completed property purchases in 2023, accounting for a record 0.9 percent of the total land acquisitions, according to the data from the online real estate registry service run by the Supreme Court. The percentage of foreign buyers in the South Korean real estate market has been on a steady increase since the South Korea
Economy March 10, 2024
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Occult thriller 'Exhuma' tops 7m in admissions
The supernatural flick "Exhuma" has extended its strong box-office performance, topping 7 million in admissions, its distributor said Saturday. Released Feb. 22, the film topped 1 million admissions on its third day of release and hit the new milestone Friday, according to Showbox. Starring Choi Min-sik and Kim Go-eun, the movie follows two shamans, a feng shui expert and a mortician, who team up to get to the bottom of a series of mysterious events plaguing a wealthy U.S.-based fa
Film March 9, 2024
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Govt. set to complete sending 1st suspension notice to striking doctors
The South Korean government is expected to wrap up sending out the first notice of its plan to suspend the medical licenses of striking trainee doctors next week as part of its disciplinary action against them, sources said Saturday. About 90 percent of 13,000 medical interns and residents have remained off their jobs through mass resignations for nearly three weeks in protest of the government's decision to increase medical school enrollment. The government earlier ordered the striking d
Social Affairs March 9, 2024
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Fishing boat capsizes, leaving 4 dead, 5 missing
Rescue operations were under way after a fishing boat with nine crew members on board capsized off the southern coastal city of Tongyeong, leaving four dead and five others missing, according to the Coast Guard on Sunday. Two South Koreans and seven Indonesians were aboard the 20-ton vessel when it overturned in waters 68 kilometers south of an island in Tongyeong, South Gyeongsang Province, on Saturday morning, according to officials. About 20 ships and four airplanes were mobilized for an unde
Social Affairs March 9, 2024
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S. Korean, Philippine FMs discuss stronger ties in phone talks
South Korea's Foreign Minister Cho Tae-yul spoke by phone with his Philippine counterpart, Enrique Manalo, on Friday and discussed ways of enhancing bilateral relations, Cho's office said. It was the first talks between the two top diplomats since Cho's inauguration in January. During the talks, Cho noted the 75th anniversary of the two nations' establishment of diplomatic ties this year and the recent exchange of congratulatory letters between their leaders, according to Seo
Foreign Affairs March 8, 2024
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Japanese candy tests positive for radioactive material before being imported to S. Korea
A small amount of cesium, a type of radioactive material, was detected in a Japanese confectionery product slated for import to South Korea, prompting the importer to cancel its plans, the food safety agency here said Friday. During radiation inspections for imported products, 1 bequerel (Bq) per kilogram of cesium was detected in a candy manufactured in Shizuoka prefecture in Japan, according to the Ministry of Food and Drug Safety. The company intending to import 122 kg of the affected product
Social Affairs March 8, 2024
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S. Korea, Japan discuss economic cooperation during vice-ministerial talks
South Korea and Japan held a vice-ministerial meeting Friday to discuss ways of cooperating on a wide range of economic and financial issues, Seoul's finance ministry said. South Korea's Deputy Finance Minister Choi Ji-young met with Japanese Vice Finance Minister Masato Kanda in Tokyo earlier in the day for the vice-ministerial finance dialogue, the second of its kind, according to the Ministry of Economy and Finance. During the meeting, the two sides discussed issues of mutual concer
Economy March 8, 2024
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S. Korea names new envoy for Indo-Pacific affairs
The Foreign Ministry said Friday it appointed a senior diplomat as the country's special envoy for Indo-Pacific affairs, a new position created under a shakeup plan to broaden diplomacy into regional and other challenges besides North Korea. Chung Kee-yong, previously the ambassador to Morocco, will be in charge of promoting South Korea's Indo-Pacific strategy, and working with key partner countries in and outside of the region to strengthen cooperation in related issues, the ministry
Foreign Affairs March 8, 2024
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Seoul shares close over 1% higher after Fed chief's dovish comments
South Korean stocks closed more than 1 percent higher Friday as investors cheered US Federal Reserve Chair Jerome Powell's testimony hinting at a rate cut this year. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index added 32.73 points, or 1.24 percent, to 2,680.35. Trade volume was moderate at 444.9 million shares worth 11.1 trillion won ($8.45 billion), with gainers outpacing losers 520 to 350. Foreigners bought a net 178 billion won worth of
Market March 8, 2024
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Shinsegae heir apparent promoted to chairman
Chung Yong-jin, heir apparent of South Korea's Shinsegae Group, has been promoted to chairman to help the retail giant ride out unfavorable business environments and meet rapidly changing customer demands, the group said Friday. Shinsegae Group, which operates the country's biggest discount store chain and second-biggest department store chain, suffered a decline in sales for the first time last year since 1997, when it began to release the figures. "The appointment is aimed at ma
Industry March 8, 2024
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Seoul shares open higher amid hopes for Fed's early rate cut
South Korean stocks opened higher Friday as US Federal Reserve Chair Jerome Powell hinted the confidence needed for the rate cut is approaching. The benchmark Korea Composite Stock Price Index added 34.79 points, or 1.31 percent, to 2,682.41 in the first 15 minutes of trading. Overnight, the US stock market closed higher with the Dow Jones Industrial Average rising 0.34 percent and the tech-heavy Nasdaq Composite advancing 1.51 percent. The S&P 500 closed at an all-time high by moving up 1.0
Market March 8, 2024
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Biden rebukes Trump over NATO remarks, other issues in State of the Union address
US President Joe Biden launched a diatribe against former President Donald Trump over his stance on the North Atlantic Treaty Organization, abortion rights, immigrants and other hot-button issues during the State of the Union address Thursday. Referring to Trump as "my predecessor," not by name, Biden used the bully pulpit to criticize Trump and highlight his economic and other achievements, as he is gearing up for an all-but-certain rematch with Trump, now the only key Republican pres
World News March 8, 2024
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NK leader guides artillery firing drills involving border units capable of striking 'enemy's capital'
North Korean leader Kim Jong-un has guided artillery firing drills involving front-line units capable of striking the "enemy's capital," state media reported Friday, in an apparent response to an ongoing joint military exercise between South Korea and the United States. The drills were conducted Thursday with the aim of enhancing the combat readiness posture and actual war capability of artillery troops, according to the Korean Central News Agency. "The drill started with the
North Korea March 8, 2024
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Former President Kim Young-sam's widow dies
Son Myung-soon, the widow of former President Kim Young-sam, died Thursday at the age of 96, medical sources said. The ex-first lady died of a chronic ailment late in the afternoon while under treatment at Seoul National University Hospital, according to the sources. Son was a widow to Kim, who served as South Korea's 14th president from 1993-1998. Kim died at the age of 88 in 2015. Son was married to Kim in 1951 and was known to have assisted her husband as the supportive wife of the long-
Politics March 7, 2024
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Seoul shares end tad higher amid Fed chief's testimony
South Korean stocks closed slightly higher Thursday after US Fed Chairman Jerome Powell hinted at a possible rate cut this year, while acknowledging economic uncertainties still remain. The local currency gained against the US dollar. The benchmark Korea Composite Stock Price Index added 6.13 points, or 0.23 percent, to 2,647.62. Trade volume was moderate at 447 million shares worth 10.2 trillion won ($7.72 billion), with losers outpacing gainers 591 to 297. Foreigners offloaded 308 billion won
Market March 7, 2024
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