South Korean stocks opened slightly higher Tuesday, as investors await US inflation data for August due out later this week that will offer clues as to what direction the Federal Reserve will take in its interest rate hike cycle. The benchmark Korea Composite Stock Price Index rose 2.03 points, or 0.08 percent, to 2,558.91 in the first 15 minutes of trading. The United States is set to release the consumer price index for August on Wednesday, with the reading on producer prices to be released th

Market Sept. 12, 2023

The White House called on North Korea not to provide any weapons to Russia on Monday, ahead of North Korean leader Kim Jong-un's widely anticipated meeting with Russian President Vladimir Putin. Adrienne Watson, spokesperson for the White House National Security Council, underscored that the two countries will likely continue discussing a potential arms deal during Kim's ongoing trip to Russia. "As we have warned publicly, arms discussions between Russia and the DPRK are expected

North Korea Sept. 12, 2023

"Welcome to our embassy," greeted Colin Crooks, the British ambassador to South Korea, in fluent Korean on Monday as he led a preliminary tour of the legation and the ambassador's residence in a neighborhood in Seoul steeped in the country's early modern history. The British Embassy is among a number of historical venues to be open to the public during the "Jeong-dong Culture Night," a historical and cultural festival in downtown Seoul scheduled for Oct. 13-14. Many

Diplomatic Circuit Sept. 11, 2023

North Korean leader Kim Jong-un will "soon" visit Russia to hold talks with President Vladimir Putin, Pyongyang's state media reported Monday, with a special train believed to be carrying him apparently heading for Russia. The North's leader will soon visit Russia at the invitation of Putin, the Korean Central News Agency reported, adding that Kim "will meet and have a talk with Comrade Putin during the visit." But it did not elaborate on details such as the timin

North Korea Sept. 11, 2023

South Korean stocks finished slightly higher Monday ahead of key economic data to be released later this week, ending a four-day losing streak. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index advanced 9.2 points, or 0.36 percent, to finish at 2,556.88. Trading volume was moderate at 406.6 million shares worth 8.21 trillion won ($6.17 billion), with gainers outpacing decliners 507 to 355. Foreigners and institutions bought a combined net 56.

Market Sept. 11, 2023

The top diplomats of South Korea and Russia held consultations to discuss regional security on the Korean Peninsula and other pending bilateral issues, Seoul's foreign ministry said Monday. Foreign Minister Park Jin and his Russian counterpart, Sergey Lavrov, met on the sidelines of the Group of 20 meeting in India on Sunday amid speculation North Korean leader Kim Jong-un could visit Vladivostok to meet President Vladimir Putin this week for a potential arms deal. At their meeting, Park st

Foreign Affairs Sept. 11, 2023

KT Wiz ace William Cuevas was announced as the top player in South Korean baseball for August on Monday. The Korea Baseball Organization said Cuevas was voted the Player of the Month for August, after going a perfect 5-0 in five starts that month while giving up just two earned runs in 36 innings, for a sparkling ERA of 0.50. The Venezuelan right-hander struck out 37 and walked only three. For August, Cuevas led all qualified KBO starts in wins and ERA, and ranked second in strikeouts. Cuevas to

Baseball Sept. 11, 2023

Second Deputy National Security Adviser Lim Jong-deuk departed for Britain on Monday to discuss cooperation in the cybersecurity and defense sectors, according to the Office of National Security. During his six-day visit to London, Lim plans to hold meetings with ranking officials in the defense, foreign and national security sectors, as the two countries prepare to mark the 140th anniversary of diplomatic ties. "We expect his visit to Britain will strengthen cybersecurity cooperation and a

Politics Sept. 11, 2023

SKC Co., a South Korean manufacturer of secondary battery parts and advanced materials, said Monday it is acquiring a stake in a US semiconductor packaging startup as it accelerates the drive for chip post-processing. The investment in Chipletz, an Austin-based fabless company, will give SKC an approximately 12 percent stake in the US firm through a Series B funding, the Seoul-based company said in a release. SKC did not disclose the amount of the investment, citing the terms of the agreement. C

Industry Sept. 11, 2023

The Seoul city government will hold a global financial technology conference next month, bringing together fintech experts from around the world to discuss the digitalization trend in the financial industry, officials said Monday. The 2023 Seoul Fintech Week will kick off on Oct. 4 for a three-day run at Dongdaemun Design Plaza in central Seoul under the theme "How Fintech Will Transform Our Lives," city officials said. Fintech experts from around the world, including the United States

Industry Sept. 11, 2023

South Korea's exports fell 7.9 percent on-year in the first 10 days of September due to weak shipments of chips and petroleum products, data showed Monday. The country's outbound shipments reached $14.9 billion in the Sept. 1-10 period, compared with $16.1 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports fell 11.3 percent on-year to $16.5 billion during the period, resulting in a trade deficit of $1.64 billion. By segment, exports of chips,

Economy Sept. 11, 2023

Besieged by criticism over his questionable commitment to the job and lack of tactical expertise, Jurgen Klinsmann will try to grab his first win as head coach of the South Korean men's national football team this week in England. South Korea, ranked 28th, will take on world No. 54 Saudi Arabia at St. James' Park in Newcastle at 5:30 p.m. Tuesday (local time), or 1:30 a.m. Wednesday. In five matches under Klinsmann, South Korea have had three draws and two losses. This is the longest w

Soccer Sept. 11, 2023

President Yoon Suk Yeol's approval rating inched up to 36.7 percent, primarily due to positive public assessments of his recent overseas trip to attend summits involving the Association of Southeast Asian Nations and the Group of 20, according to a poll Monday. In the survey of 2,515 eligible voters conducted by Realmeter from Monday to Friday last week, the positive assessment of Yoon's performance increased by 1.3 percentage points from the previous week, while disapproval of Yoon�

Politics Sept. 11, 2023

Kim Ha-seong of the San Diego Padres has established a new career high for hits in a season. Kim went 1-for-4 against the Houston Astros in Minute Maid Park in Houston on Sunday, picking up his 131st hit of the season. Kim collected 130 hits in 150 games as a big league sophomore last year but has surpassed that total in his 139th game this season. The milestone hit came in Kim's second trip to the plate at the top of the Padres' lineup in the top of the third. He hit a soft liner to s

Baseball Sept. 11, 2023

South Korean stocks started a tad lower Monday as big-cap tech and auto stocks traded in negative territory. The benchmark Korea Composite Stock Price Index lost 7.06 points, or 0.28 percent, to 2,540.62 in the first 15 minutes of trading. Market bellwether Samsung Electronics dropped 0.28 percent, and its chipmaking rival SK hynix decreased 0.44 percent. Top automaker Hyundai Motor fell 0.65 percent, and leading battery maker LG Energy Solution skidded 0.79 percent. Major online portal operator

Market Sept. 11, 2023