Seoul shares ended lower Friday following tech losses on Wall Street amid concerns over China's ban on Apple Inc.'s use by government officials and the Federal Reserve's possible rate hikes. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index fell 0.58 point, or 0.02 percent, to close at 2,547.68, extending its losses to the fourth session. The KOSPI has risen 0.6 percent this week. Trading volume was moderate at 386.53 million shares worth 7

Market Sept. 8, 2023

Major South Korean shipbuilder Hanwha Ocean Co. said Friday it has won a series of certifications for eco-friendly technologies from major global maritime rating agencies at an ongoing world gas industry exhibition. Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering Co., has obtained an approval in principle for the hold of a 70,000-cubic-meter liquefied carbon dioxide carrier from Norwegian accredited registrar and classification society DNV. The capacity of Hanwha Ocean's

Industry Sept. 8, 2023

South Korea's Veterans Affairs Minister Park Min-shik is set to depart for a 10-day trip to Germany, Luxembourg and the Netherlands on Friday to attend an international sporting event for soldiers and veterans and meet Korean War veterans in Europe, the ministry said. During his three-day visit to Germany, Park will meet with Koreans who were deployed to Germany as miners in the 1960s and 70s and attend the opening ceremony of the Invictus Games, where some 550 wounded service members and d

Diplomatic Circuit Sept. 8, 2023

With the South Korean men's national football team unable to get past Wales in their latest friendly match, defender Kim Min-jae thinks the players need more time to develop cohesion. Kim played the full 90 minutes of South Korea's goalless draw against Wales in Cardiff on Thursday. The Bayern Munich center back tried to look on the brighter side of things, saying, "I think it was good for us not to concede any goals in such a tough match." On the other hand, the draw left So

Soccer Sept. 8, 2023

South Korea's finance ministry said Friday it has reached an agreement with Uzbekistan to settle an outstanding payment of around $1 billion involving a joint gas project. The agreement was reached during Finance Minister Choo Kyung-ho's visit to the Central Asian nation, where he held a bilateral meeting with his Uzbek counterpart, according to the Ministry of Economy and Finance. South Korea and Uzbekistan launched a gas project in 2008 with a joint venture named Uz-Kor Gas Chemical,

Economy Sept. 8, 2023

Three minor earthquakes struck North Korea's northeastern county of Kilju, home to the country's nuclear testing site, but all of them were natural tremors, South Korea's state weather agency said Friday. The first quake occurred about 38 km north of Kilju at 3:29 a.m., while the second and third ones struck nearby areas at 4:01 a.m. and 5:12 a.m., respectively, with their magnitudes ranging between 2.1 and 2.3, according to the Korea Meteorological Administration. The KMA said al

North Korea Sept. 8, 2023

South Korea's customs agency said Friday it has held the first bilateral meeting with its Japanese counterpart in seven years amid signs of improving economic relations. Commissioner Ko Kwang-hyo met his Japanese counterpart in Seoul on Thursday to discuss a wide array of issues, which marked the first of its kind since 2016, according to the Korea Customs Service. During the meeting, the two countries exchanged opinions on addressing global protectionism, as well as the escalating concerns

Economy Sept. 8, 2023

Winless after five matches as head coach of the South Korean men's national football team, Jurgen Klinsmann says he is still pleased with the team's progress on his watch as the program undergoes a generation change. Following a goalless draw against Wales in Cardiff on Thursday, Klinsmann attributed a run of uninspiring matches to a transition and a growing process in South Korean football. He also kept taking the long view toward the 2024 Asian Football Confederation Asian Cup, which

Soccer Sept. 8, 2023

North Korea and Russia may be seeking to improve their relations since it may offer benefits to both but the level of their cooperation, especially in advanced military technology such as nuclear weapons, will likely be limited, a former US intelligence officer on North Korea said Thursday. Sydney Seiler, former national intelligence officer on North Korea at the National Intelligence Council, also argued that Russian President Vladimir Putin, despite being desperate for North Korea's suppo

North Korea Sept. 8, 2023

South Korea played Wales to a goalless draw in their latest men's football friendly match on Thursday in Cardiff, as their winless streak under head coach Jurgen Klinsmann stretched to five matches. The first meeting between world No. 28 South Korea and 35th-ranked Wales generated few sparks at Cardiff City Stadium in the Welsh capital. The Taegeuk Warriors now have three draws and two losses under Klinsmann, who was named South Korea's bench boss in late February. This was South Korea

Soccer Sept. 8, 2023

Foreign investors dumped nearly 1.18 trillion won ($883.6 million) worth of South Korean stocks in August, turning net sellers in the month, data showed Friday. With the sell-off, cumulative holdings of listed stocks by foreigners came to 679.1 trillion won, or 26.1 percent of total market capitalization, as of the end of last month, according to the Financial Supervisory Service. Foreigners also sold off a net 383 billion won worth of South Korean bonds last month, switching to net sellers afte

Economy Sept. 8, 2023

Seoul shares opened lower Friday, tracking tech losses on Wall Street, amid concerns over China's ban on Apple Inc.'s use. The benchmark Korea Composite Stock Price Index fell 0.07 point to 2,548.19 in the first 15 minutes of trading. China plans to expand its ban on the use of iPhones in government agencies and state-owned companies. The move is expected to deal a blow to global big tech companies that heavily rely on China, analysts said. In Seoul, tech and auto stocks were the lead

Market Sept. 8, 2023

The fifth time didn't prove to be the charm for Jurgen Klinsmann and his South Korean men's national football team, as another anemic showing by the Taegeuk Warriors left the German tactician winless after five matches in charge. The team's latest match resulted in a goalless draw against Wales in Cardiff on Thursday. South Korea barely threatened to score at Cardiff City Stadium in the Welsh capital, while their defense got caught napping a couple of times to allow the home team

Soccer Sept. 8, 2023

South Korea logged a current account surplus for the third straight month in July on the back of a widened trade surplus and dividend payments from overseas, central bank data showed Friday. The country's current account surplus reached $3.58 billion in July, following the surplus of $1.93 billion in May and $5.87 billion in June, according to preliminary data from the Bank of Korea. July's surplus came as the country's trade balance remained in the black and dividend income incre

Economy Sept. 8, 2023

With his beleaguered national team head coach Jurgen Klinsmann facing criticism over his remote work, South Korea captain Son Heung-min believes there's more to Klinsmann's work habits than meets the eye. Son came to the German-born coach's defense after South Korea and Wales ended in a goalless draw in Cardiff on Thursday (local time). The result extended Klinsmann's winless streak as South Korea's bench boss to five matches, with three draws and two losses. Klinsmann a

Soccer Sept. 8, 2023