Articles by Yonhap
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Seoul shares fall on profit-taking ahead of US Fed's rate meeting
South Korean stocks closed lower Tuesday as investors booked profit ahead of the US Federal Reserve's policy meeting later this week. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index shed 1.84 points, or 0.07 percent, to close at 2,498.81, ending its three consecutive session advance. Trade volume was moderate at 476.1 million shares worth 8.63 trillion won ($6.49 billion). Winners, however, outpaced losers 493 to 385. Foreign and retail investors s
Market Jan. 30, 2024
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New JSA barracks named after 2 US Army officers killed in 1976 axe incident
A new front-line barracks of the United Nations Command Security Battalion has been named after two US Army officers who were killed in a 1976 axe incident as a tribute their sacrifices, the command said Tuesday. Major Arthur Bonifas and First Lieutenant Mark Barrett were killed by North Korean soldiers on August 18, 1976, in the Joint Security Area in the Demilitarized Zone while trimming a poplar tree to secure a clear view. The "Bonifas & Barrett Barracks" for US officers in Cam
Defense Jan. 30, 2024
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Seoul shares open higher following Wall Street gains
South Korean stocks got off to a strong start Tuesday, tracking overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index rose 18.70 points, or 0.75 percent, to 2,519.35 in the first 15 minutes of trading. Overnight, US stocks gained ground as investors looked ahead to scheduled earnings announcements by major companies and the Federal Reserve's rate decision meeting later this week. The S&P 500 climbed 0.8 percent to close at a fresh high, while the Dow Jones Indu
Market Jan. 30, 2024
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US stresses 'ironclad' security commitment to S. Korea after NK missile launch
The United States on Monday reiterated its "ironclad" security commitment to South Korea as tensions flared anew following North Korea's recent test-firing of a claimed submarine-launched cruise missile. The North's Korean Central News Agency reported Monday that North Korean leader Kim Jong-un oversaw the test-fire of the newly developed SLCM and reviewed a project to build a nuclear-powered submarine the previous day. "We are monitoring these activities and we won
Foreign Affairs Jan. 30, 2024
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Car rams into guard post at Russian ambassador's residence, injures police officer
An SUV rammed into a guard post in front of the official residence of the Russian ambassador to South Korea, seriously injuring a police officer on duty, officials said Monday. The accident happened at 10:10 p.m. Sunday in front of the ambassador's residence in Seoul's central district of Jongno, and the officer was taken to a hospital with serious injuries to his neck and shoulders, officials said. The driver was not under the influence of alcohol, officials said. Police are looking i
Social Affairs Jan. 29, 2024
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S. Korea, US discuss space cooperation
Senior officials from South Korea and the United States discussed cooperation in space exploration as Seoul pushes ahead with the establishment of its independent space agency in May, officials said Monday. First Vice Science Minister Cho Seong-kyung met with Pam Melroy, the deputy administrator of the National Aeronautics and Space Agency, during her visit to the US last week and discussed measures to expand space cooperation between the two countries, according to the Ministry of Science and I
Technology Jan. 29, 2024
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Arrest warrant sought for Kia Tigers manager over bribery charges
Prosecutors have sought arrest warrants for the sitting manager and a former general manager of the Kia Tigers professional baseball team, both on bribery charges, officials said Monday. The Seoul Central District Prosecutors office filed for the warrants last Wednesday to arrest manager Kim Jong-kook and former general manager Jang Jung-suk, the officials said. The prosecution has been looking into suspicions that Jang, while serving as the team's general manager, asked a free agent player
Social Affairs Jan. 29, 2024
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Yoon, PPP head discuss bread-and-butter issues in 1st sit-down since clash
President Yoon Suk Yeol and ruling party chief Han Dong-hoon discussed ways to improve the people's livelihoods as they met over lunch on Monday, the presidential office said, their second meeting in less than a week amid efforts to repair their relationship after clashing over allegations involving first lady Kim Keon Hee. Han of the People Power Party (PPP) attended the luncheon at the presidential office together with PPP floor leader Yun Jae-ok, and the three had lunch for two hours bef
Politics Jan. 29, 2024
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Seoul shares up for 3rd day on institutional, foreign buying
South Korean stocks closed higher for the third straight trading day Monday as institutions and foreign investors shored tech, bio and other blue chips. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 22.09 points, or 0.89 percent, to close at 2,500.65, extending its winning streak to a third day. Trade volume was moderate at 421.5 million shares worth 8.85 trillion won ($6.62 billion), with gainers outpacing losers 523 to 361. Institutions and for
Market Jan. 29, 2024
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DP leader Lee labels govt. 'cold-blooded' over anticipated rejection of Itaewon special bill
Main opposition leader Lee Jae-myung criticized the government Monday for its anticipated rejection of a special bill calling for a renewed investigation into the Itaewon crowd crush in 2022. The main opposition Democratic Party, which holds a controlling majority in the National Assembly, railroaded the special bill on Jan. 9, following the breakdown of negotiations with the ruling People Power Party. However, the Cabinet is set to hold a meeting Tuesday to pass a motion demanding the National
Politics Jan. 29, 2024
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Yoon, PPP chief to have lunch amid signs of reconciliation
President Yoon Suk Yeol and ruling party chief Han Dong-hoon will have lunch at the presidential office Monday, an official said, their second meeting in less than a week after clashing over allegations involving first lady Kim Keon Hee. Han of the People Power Party will attend the luncheon together with People Power Party floor leader Yun Jae-ok, presidential chief of staff Lee Kwan-sup and senior presidential secretary for political affairs Han Oh-seop, according to the official. The Yoon-Han
Politics Jan. 29, 2024
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S. Korea's export-import cargo gains 1% in 2023 on exports recovery
Cargo processed at South Korean seaports for exports and imports rose 1 percent on-year in 2023 amid signs of a recovery in the country's exports, the oceans ministry said Monday. Export-import cargo handled at the ports nationwide came to 1.32 billion tons last year, compared with 1.31 billion tons a year earlier, according to the Ministry of Oceans and Fisheries. The overall cargo handled at the domestic ports, however, inched down 0.04 percent on-year to 1.55 billion tons in 2023. Of the
Economy Jan. 29, 2024
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S. Korea to develop spy drone deployable from warships by 2028
South Korea aims to develop an unmanned reconnaissance aircraft deployable from warships by 2028, the state arms procurement agency said Monday, amid efforts to boost surveillance against North Korean threats. Last month, the Defense Acquisition Program Administration signed a contract worth 143.3 billion won ($107.1 million) with defense company Hanwha Systems to develop the rotary-wing aircraft by December 2028. DAPA said the aircraft is designed to be deployed from warships, as well as Marine
Defense Jan. 29, 2024
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Tickets for 1st MLB regular season game in S. Korea sold out in 8 minutes: marketer
Tickets for the first Major League Baseball regular season game to be played in South Korea were sold out just eight minutes after going on sale last week, the event's marketing partner said Monday. Coupang Play, a South Korean streaming service and the official presenting partner for the MLB World Tour Seoul Series, announced that all tickets for the March 20 clash between the Los Angeles Dodgers and the San Diego Padres were snatched up online soon after the window opened at 8 p.m. last F
Baseball Jan. 29, 2024
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Seoul shares open higher on tech, bio gains
Seoul shares opened higher Monday as institutions and foreign investors scooped up tech, bio and other blue chips. The benchmark Korea Composite Stock Price Index climbed 0.49 percent, or 12.11 points, to 2,490.67 in the first 15 minutes of trading. Market bellwether Samsung Electronics gained 0.41 percent, and its consumer electronics rival LG Electronics rose 1.07 percent. Bio shares also traded higher, with Samsung Biologics soaring 5.30 percent and Celltrion advancing 2.41 percent. Auto and
Market Jan. 29, 2024
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