Articles by Yonhap
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Seoul shares fall on foreign selling despite overnight US gains
South Korean stocks finished slightly lower Tuesday as foreign investors took profit despite overnight gains on Wall Street. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 6.42 points, or 0.24 percent, to 2,623.02. Trade volume was moderate at 316 million shares worth 9.43 trillion won ($6.84 billion). Winners, however, outpaced losers 671 to 403. Foreign investors sold a net 288.8 billion won, while institutions and individuals combined bought a
Market April 23, 2024
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S. Korea vows thorough market monitoring, immediate responses to Middle East crisis
Finance Minister Choi Sang-mok met with experts of economic and international affairs Tuesday and discussed responses to growing uncertainties in the Middle East, the finance ministry said. During a meeting of the international economic advisory panel in Seoul, experts called on the government to "check developments and assess potential impacts thoroughly as the conflict between Israel and Iran, coupled with the Israel-Hamas war, has seriously boosted uncertainties in the global economy,&qu
Economy April 23, 2024
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Med professors considering taking day off every week amid prolonged doctors' walkout
Medical school professors nationwide are reviewing taking a day off every week as they have been thinly stretched amid the prolonged walkout by trainee doctors, officials said Tuesday, deepening concerns over further disruptions in the country's health care system. The emergency committee for national medical professors will hold a general meeting later in the day and discuss the potential suspension of all surgeries and treatment for outpatients once a week, according to its officials. Det
Social Affairs April 23, 2024
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Seoul shares open higher on tech, auto gains
South Korean stocks opened slightly higher Tuesday as investors picked up tech and auto shares following overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index edged up 4.4 points, or 0.17 percent, to 2,633.84 in the first 15 minutes of trading. Overnight on Wall Street, the S&P 500 rose 0.9 percent and the tech-heavy Nasdaq jumped 1.1 percent, while the Dow Jones Industrial Average gained 0.7 percent, as investors looked forward to positive first-quarter corporate e
Market April 23, 2024
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US decries latest NK missile launches
The United States condemned North Korea's latest round of ballistic missile launches as a violation of multiple UN Security Council resolutions, a State Department spokesperson said Monday. Matthew Miller, the spokesperson, also noted that Pyongyang's provocative activities will be on the agenda for talks that Secretary of State Antony Blinken will have during his trip to Shanghai and Beijing from Wednesday to Friday. On Monday, Pyongyang fired multiple projectiles, presumed to be shor
North Korea April 23, 2024
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Rebuilding Korea Party leader Cho puts forward 10 demands for Yoon to follow after general elections
Rebuilding Korea Party leader Cho Kuk, known for his vocal criticism of President Yoon Suk Yeol, demanded Monday that Yoon accept a special counsel probe into allegations involving first lady Kim Keon Hee. The demand was among 10 requests that Cho said Yoon should accept in accordance with the public sentiment revealed in this month's parliamentary elections in which Yoon's People Power Party suffered a resounding defeat. "These are the minimum 10 things for President Yoon Suk Yeo
Politics April 22, 2024
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FM Cho discusses Mideast crisis with Jordanian counterpart in phone call
Foreign Minister Cho Tae-yul spoke by phone with his Jordanian counterpart Monday and discussed the situation in the Middle East, including the clash between Israel and Iran and the prolonged conflict in the Gaza Strip, his office said. In the phone talks with Jordan's Foreign Minister Ayman Hussein Al Safadi, Cho highlighted the need for all parties involved to exercise "restraint" so that the conflict in the Middle East will not escalate any further. Cho stressed that South Kore
Foreign Affairs April 22, 2024
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Minor quake hits off southern island of Jeju
A minor earthquake hit off the southern island of Jeju on Monday, with no damage expected from the tremor in the region, the state weather agency said. The 2.0 magnitude quake occurred at 6:47 p.m. in waters about 51 kilometers off the east of Seogwipo, the southern city on the resort island, the Korea Meteorological Administration said. The epicenter was at a depth of 20 kilometers. The quake is not expected to cause any damage, the KMA said. (Yonhap)
Social Affairs April 22, 2024
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1 killed in car crash at senior welfare center south of Seoul
An elderly woman was killed and three others injured Monday after a car driven by a 91-year-old man rammed into people at a senior community center in a city south of Seoul, police said. The crash happened at around noon at a parking lot in a senior community center in Bundang, when the driver, only identified by his last name Park, was reversing and his vehicle instantly ran over four elderly people who were walking toward the building, the police said. An 80-something-year-old woman was taken
Social Affairs April 22, 2024
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Seoul shares rise 1.4% on financial, auto gains
South Korean stocks rose over 1.4 percent Monday as financial, auto and other blue chips advanced after last week's overall market decline amid eased tensions in the Middle East. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index climbed 37.58 points, or 1.45 percent, to close at 2,629.44. Trade volume was moderate at 389 million shares worth 10.85 trillion won ($7.86 billion), with winners outpacing gainers 659 to 226. Lee Kyung-min, an analyst at Da
Market April 22, 2024
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2.6 magnitude earthquake strikes southeastern county of Chilgok
A 2.6 magnitude earthquake struck the southeastern county of Chilgok on Monday, but there have been no reports of damage, officials said. The quake occurred about 5 kilometers west of Chilgok, about 215 km southeast of Seoul, at 7:47 a.m., according to the Korea Meteorological Administration. The epicenter was at a latitude of 36 degrees north and a longitude of 128.35 degrees east at a depth of 6 km. It was the sixth-strongest quake to occur on the Korean Peninsula so far this year, and its dep
Social Affairs April 22, 2024
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Trade minister holds meeting with Canada's business delegation
Trade Minister Cheong In-kyo held a meeting with a Canadian business delegation led by his counterpart, Mary Ng, in Seoul and they discussed ways to expand bilateral trade and industry cooperation, officials said Monday. The visit by the Canadian business delegation marked the largest of its kind since Seoul and Ottawa forged the so-called comprehensive strategic partnership in 2022. During the meeting, Cheong expressed hope to broaden the bilateral cooperation beyond its current focus on natura
Foreign Affairs April 22, 2024
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Seoul shares open higher on financial, bio gains
South Korean stocks opened higher Monday as investors scooped up financials, bios and other blue chips following last week's overall market decline amid eased tensions in the Middle East. The benchmark Korea Composite Stock Price Index gained 32.11 points, or 1.24 percent, to trade at 2,623.97 in the first 15 minutes of trading. Financial stocks led the overall bullish market, with KB Financial surging 5.49 percent and Shinhan Financial soaring 5.39 percent. Bio shares also gained strong mo
Market April 22, 2024
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Exports gain 11.1% from April 1-20 on robust chip sales
South Korea's exports rose 11.1 percent on-year in the first 20 days of April on surging global demand for semiconductors, data showed Monday. Outbound shipments reached $35.82 billion in the April 1-20 period, compared with $32.25 billion tallied a year earlier, according to the data from the Korea Customs Service. Per-day exports also advanced 11.1 percent on-year to $2.31 billion. Imports grew 6.1 percent on-year to $38.5 billion during the first 20 days of April, resulting in a trade de
Economy April 22, 2024
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DP appoints new secretary general, chief policymaker
The main opposition Democratic Party appointed Rep. Kim Yun-duk, a close confident of party leader Rep. Lee Jae-myung, as its secretary general Sunday, while Rep. Jin Sung-joon was named as new chief policymaker. Both Kim and Jin are two-term lawmakers reelected for another time in this month's general elections. The appointments came after the DP's outgoing secretary general, Rep. Cho Jeong-sik, and party officials related to policymaking functions voluntarily resigned in a reorganiza
Politics April 21, 2024
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