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With 4 more gold medals, S. Korea meets Winter Asiad target after just 2 days
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S. Korea captures 7 gold medals on 1st day of competition at Winter Asiad
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Teacher who killed student was 'annoyed' she was excluded from class: police
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Trump says he will announce 25% steel and aluminum tariffs Monday, and more import duties are coming
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S. Korea's foreign ministry welcomes Trump, Ishiba's commitment to NK denuclearization
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Trump formally announces 25% tariff on steel, aluminum imports
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Seoul shares rise for 2nd day on tech, shipbuilder gains amid Trump tariff woes
South Korean stocks finished higher Wednesday, led by gains of tech shares and shipbuilders, as investors digested US President Donald Trump's new tariff scheme. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index added 9.34 points, or 0.37 percent, to close at 2,548.39, extending a winning streak to a second session. Trade volume was moderate at 453.32 million shares worth 13.19 trillion won ($9.08 billion), with losers outnumbering winners 551 to 332.
Feb. 12, 2025
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Regulator reopens probe into major banks' alleged collusion on setting LTV ratio
South Korea's antitrust regulator said Wednesday that it has launched a reinvestigation into allegations that the country's four major banks colluded on setting lending limits, the loan-to-value ratio. The Fair Trade Commission has dispatched its investigators to the headquarters of Shinhan Bank and Woori Bank as part of its ongoing investigation, according to officials. The four banks include KB Kookmin Bank and Hana Bank, according to FTC officials. The banks are suspected of sharing approxima
Feb. 12, 2025
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Ruling party calls for thorough probe into stabbing death of student at school
The floor leader of the ruling People Power Party called Wednesday for a thorough investigation after an elementary school teacher allegedly stabbed an 8-year-old student to death earlier this week. Rep. Kweon Seong-dong made the calls at a floor meeting at the National Assembly, saying the People Power Party will "do everything in its power to prevent such a tragedy from happening again in schools." The People Power Party plans to hold consultations with the government to discuss measures to pr
Feb. 12, 2025
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Yoon offers condolences over alleged stabbing death of student at school
Impeached President Yoon Suk Yeol sent his condolences Wednesday over the alleged stabbing death of an 8-year-old student by a teacher at a school in the city of Daejeon. Yoon, who was detained last month on charges of insurrection over his botched martial law bid, offered his condolences via one of his legal representatives. "It is incredibly sad and heartbreaking that such a horrific crime has occurred at a school, a place where children should be able to play safely," Yoon was quoted as sayin
Feb. 12, 2025
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Electric energy conference kicks off in Seoul to showcase advanced technologies
A conference on electric energy kicked off in Seoul on Wednesday to showcase cutting-edge electric power technologies of local and foreign companies, the industry ministry said. Elecs Korea 2025, hosted by the Ministry of Trade, Industry and Energy, will run for three days through Friday at the COEX convention center, according to the ministry. Some 260 companies from here and abroad are taking part in the event to show their advanced heavy electrical equipment, smart grid solutions and power su
Feb. 12, 2025
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S. Korea to invest nearly $300m for advanced industrial technologies
South Korea will invest 414.2 billion won ($285 million) in developing advanced technologies to foster innovation across various industries by 2031 as part of efforts to foster future growth engines, the industry ministry said Wednesday. The investment project kicked off in 2022 with an aim to support innovative technology development projects that will reshape future industries, according to the Ministry of Trade, Industry and Energy. This year, the ministry selected three new items for investm
Feb. 12, 2025
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Govt. to hold 'export strategy meeting' next week to discuss new Trump tariffs
The Seoul government will hold an export strategy meeting next week to discuss measures aimed at minimizing the impact of the latest US tariff escalation, acting President Choi Sang-mok said Wednesday. On Monday, US President Donald Trump announced plans to impose a 25 percent tariff on all steel and aluminum imports. He further stated that his administration would unveil "reciprocal tariffs" this week while also considering new tariffs on vehicles, semiconductors and pharmaceuticals. "Uncertain
Feb. 12, 2025
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S. Korean authorities detect new synthetic drug in parcel from France
South Korea's customs agency said Wednesday it has detected a new type of synthetic drug for the first time in an international parcel from France. The compound, identified as 4-Benzyloxy-3,5-dimethoxyphenethylamine, shares similarities with Mescaline, a psychedelic substance commonly used as a party drug, according to the Korea Customs Service. The agency said a chemical structure analysis confirmed that it is a new synthetic drug reported for the first time in the world. Authorities said they
Feb. 12, 2025
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Seoul shares open lower on tech losses
South Korean stocks opened lower Wednesday, led by losses of big-cap tech shares amid concerns about US President Donald Trump's sweeping tariff plan. The benchmark Korea Composite Stock Price Index shed 6.21 points, or 0.24 percent, to 2,532.84 in the first 15 minutes of trading. Companies are scurrying to minimize the impact of Trump's new tariff scheme on their businesses, as Washington plans to impose 25 percent tariffs on all steel and aluminum imports into the United States. Trump is also
Feb. 12, 2025
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S. Korean firms increase stock buyback by 70% in 2024
The total value of treasury shares bought back by major listed companies in South Korea jumped more than 70 percent in 2024 from a year earlier as the firms sought to enhance corporate value, a corporate tracker said Wednesday. South Korean companies repurchased 14.3 trillion won ($9.8 billion) worth of treasury shares last year, marking a 72.8 percent increase from 8.2 trillion won a year earlier, according to CEO Score. Their cancellation of treasury shares was valued at 12.1 trillion won, up
Feb. 12, 2025