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Seoul shares start higher despite US losses
South Korean stocks got off to a strong start Tuesday despite overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index added 32.49 points, or 1.19 percent, to 2,770.06 in the first 15 minutes of trading. The US stocks lost ground Monday as investors took a breather ahead of key inflation data. The Dow Jones Industrial Average fell 0.4 percent, and the tech-rich Nasdaq Composite Index dropped 0.3 percent. In Seoul, market heavyweights led the bullish beginning. Top-cap Sam
Market March 26, 2024
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Consumer sentiment snaps 3-month rise in March amid rising prices, slumping spending
South Korea's consumer sentiment snapped an improvement for the third consecutive month in March amid soaring prices of farm goods and a slump in private spending, a central bank poll showed Tuesday. The composite consumer sentiment index stood at 100.7 this month, down from 101.9 the previous month, according to the survey conducted by the Bank of Korea. A reading above 100 means optimists outnumber pessimists. The central bank said consumer sentiment declined amid a rise in prices of agri
Consumer March 26, 2024
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S. Korean football player returns home after 10-month detention in China
South Korean football player Son Jun-ho returned home Monday after being detained in China for around 10 months, authorities here said. Son, a national team veteran who plays for Shandong Taishan in the Chinese Super League, had been held in Liaoning province since last May on alleged bribery charges. The Korea Football Association confirmed Son's release, stating that he arrived in the country through Incheon International Airport, South Korea's main gateway, west of Seoul. "We
Soccer March 25, 2024
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Seoul shares fall for 2nd day on profit-taking
South Korean stocks declined for the second straight session Monday as investors sought to cash in recent gains. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 10.99 points, or 0.4 percent, to close at 2,737.57. Trade volume was moderate at 479.9 million shares worth 9.78 trillion won ($7.23 billion), with losers outnumbering winners 527 to 336. Foreigners and institutions led the drop, dumping a combined 331.6 billion won worth of local share
Market March 25, 2024
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Seoul's bus union threatens strike over wage dispute
The union of city bus drivers in Seoul said Monday its leaders agreed to start a general strike by all members later this week after failing to reach a deal on wage hikes with the Seoul city government. The Seoul Bus Labor Union, which has about 18,000 members at 65 companies, said heads of its chapters decided to launch the walkout at 4 a.m. on Thursday. The union has reportedly demanded wage increases, revision of the salary system and the abolition of wage discrimination for contract workers
Social Affairs March 25, 2024
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Leader of doctors' group questioned again over trainee doctors' walkout
A leader of the Korean Medical Association, the country's biggest doctors' group, appeared before police Monday for another round of questioning over suspicions of instigating a mass walkout by trainee doctors. Joo Soo-ho, the chief KMA spokesperson, arrived at the Seoul Metropolitan Police Agency in Seoul to undergo questioning, his third police questioning connected to the walkout. He is one of five former and current KMA leaders against whom the government has filed a police complai
Social Affairs March 25, 2024
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NK leader visits tank unit credited for being first to enter Seoul during Korean War
North Korean leader Kim Jong-un has visited a tank unit bearing "Seoul" in its name for being the first to enter the South Korean capital during the Korean War, praising the unit as a "model for the entire army," state media said Monday. Kim visited the Seoul Ryu Kyong Su Guards 105th Tank Division and the affiliated First Tank Armored Infantry Regiment on Sunday, the Korean Central News Agency said. "The division ... was the first to charge into Seoul and fly the flag o
North Korea March 25, 2024
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Health minister vows to swiftly hold talks with medical community over doctors' walkout
Health Minister Cho Kyoo-hong said Monday relevant ministries have swiftly begun work to hold talks with the medical community, a day after President Yoon Suk Yeol called for a "flexible" measure over the government's move to suspend licenses of defiant trainee doctors. Prospects of talks between the government and the medical community over a prolonged walkout by junior doctors were raised as Yoon instructed officials to seek dialogue with doctors, with the walkout disrupting medical
Social Affairs March 25, 2024
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American star Nelly Korda wins LPGA event hosted by Pak Se-ri
American star Nelly Korda has been crowned the champion at the inaugural LPGA event hosted by South Korean legend Pak Se-ri. Korda defeated fellow American Ryann O'Toole in a playoff to capture the Fir Hills Seri Pak Championship at Palos Verdes Golf Club in Palos Verdes Estates, California, on Sunday. The two golfers were tied at nine-under 275 after 72 holes but took different paths to get there. Korda bogeyed two of the last three holes to shoot a 69 in the final round, while O'Tool
Golf March 25, 2024
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Seoul shares open higher on tech, battery gains
South Korean stocks started a tad higher Monday on gains from tech and battery shares. The benchmark Korea Composite Stock Price Index added 8.46 points, or 0.31 percent, to 2,757.02 in the first 15 minutes of trading. Tech and battery heavyweights led the upbeat start. Samsung Electronics, the world's No. 1 memory chipmaker, rose 0.51 percent and its rival SK hynix increased 1.53 percent. Leading battery maker LG Energy Solution edged up 0.12 percent, and Samsung SDI went up 2.75 percent.
Market March 25, 2024
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Yoon calls for flexible ways to process suspension of medical licenses
President Yoon Suk Yeol on Sunday urged Prime Minister Han Duck-soo to consult with political parties to seek a flexible process in suspending the licenses of striking trainee doctors, the presidential office said. Yoon also asked Han to form a "constructive consultative body" to promote dialogue with medical workers, according to his office. Yoon's order was made at the request of ruling People Power Party (PPP) chief Han Dong-hoon after he held talks with a group of medical professor
Social Affairs March 24, 2024
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Health care standoff to worsen amid looming resignations by med professors
The monthlong confrontation between the government and doctors was feared to worsen further as medical school professors were to tender mass resignations and cut back on patient care starting this week, while the government was to suspend the licenses of striking trainee doctors, officials said Sunday. More than 90 percent of the country's 13,000 trainee doctors have been on strike in the form of mass resignations for about a month to protest the government's decision to increase the m
Social Affairs March 24, 2024
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US lawmakers to visit S. Korea this week: sources
WASHINGTON -- A bipartisan US congressional delegation will visit Seoul this week for talks with South Korean officials, multiple sources said Saturday. The delegation includes Korean American Rep. Young Kim (R-CA), chair of the House Foreign Affairs subcommittee on the Indo-Pacific, and Rep. Ami Bera (D-CA). They are expected to pay a courtesy call on President Yoon Suk Yeol and discuss the strengthening of the South Korea-US alliance in light of North Korean provocations. The group of US repre
Foreign Affairs March 24, 2024
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All 5 games sell out on 1st day of new KBO season
All five games on the first day of the new South Korean baseball season sold out Saturday, with over 100,000 fans enjoying the action nationwide. The defending Korean Series champions LG Twins hosted the Hanwha Eages in front of 23,750 fans at Jamsil Baseball Stadium in Seoul, according to the Korea Baseball Organization (KBO). The game between the Lotte Giants and the SSG Landers at Incheon SSG Landers Park in Incheon, just west of Seoul, was played in front of a sellout crowd of 23,000. The Ki
Baseball March 23, 2024
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Ex-MLB ace Ryu Hyun-jin fizzles in 1st KBO regular-season start since '12
Former major league ERA champion Ryu Hyun-jin struggled in his first regular-season start in South Korea since 2012 on Saturday, unable to live up to considerable pregame hype amid shaky command and shoddy defense behind him. Ryu, who rejoined the Hanwha Eagles of the Korea Baseball Organization (KBO) in February after 11 years in the majors, gave up five runs on six hits and three walks in only 3 2/3 innings against the LG Twins in his Opening Day start at Jamsil Baseball Stadium in Seoul. Thre
Baseball March 23, 2024
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