Samsung Electronics Vice Chairman Lee Jae-yong will serve as a presidential envoy for South Korea's bid to host the 2030 World Expo in Busan, a presidential official said Thursday. Lee has been cited as among the top business executives joining the government's campaign to bring the event to the southeastern city. "Regarding Samsung Electronics Vice Chairman Lee Jae-yong, I heard that we decide...

South Korea called on Britain on Thursday to boost consultations on how to deal with the United States' Inflation Reduction Act that excludes electric vehicles assembled outside North America from tax credits, Seoul's trade ministry said. Trade Minister Ahn Duk-geun made the request during a meeting with John Whittingdale, Britain's trade envoy to South Korea, in Seoul, according to the Ministry...

Prime Minister Han Duck-soo held a meeting with new leader Lee Jae-myung of the main opposition Democratic Party (DP) on Thursday and discussed legislative cooperation to improve people's livelihood issues. The meeting between Han and Lee marked their first since Lee was elected the DP's new chairman in a national convention Sunday. Han told Lee that the government "looks forward to managing st...

South Korea's economy grew at a faster pace in the second quarter of this year as private spending rose amid eased coronavirus restrictions despite shrinking exports, central bank data showed Thursday. The country's gross domestic product (GDP) -- a key measure of economic growth -- increased 0.7 percent in the April-June period from three months earlier, according to the preliminary data from t...

South Korea and the United States are set to wrap up a major combined military exercise Thursday, Seoul officials said, in a conclusion highlighting their pursuit of stronger deterrence against North Korea's nuclear and missile threats. The allies have carried out the Ulchi Freedom Shield exercise, which kicked off on Aug. 22, despite North Korean state media berating the annual drills as a rehe...

Top executives of the Samsung and SK groups are expected to visit Britain and Japan this month to promote South Korea's bid to host the 2030 World Expo in the southern city of Busan, sources said Thursday. Samsung Electronics Vice Chairman Lee Jae-yong is reportedly planning to visit Britain later this month after the appointment of Britain's new prime minister. SK Group Chairman Chey Tae-won i...

After five more matches, the 12 teams in the top South Korean football league will be split into two tiers. The top six will comprise "Final A," and the rest will make up "Final B." Teams will then play five more matches within their own group to round out the season. Teams in the upper tier are guaranteed a stay in the K League 1 for the following season, while those in the lower group face the ...

South Korea's new COVID-19 cases fell to the 80,000 range Thursday amid a moderate declining trend, though a sharp rise in the death toll called for a continued close watch over serious cases. The country reported 81,573 new COVID-19 infections, including 300 from overseas, bringing the total caseload to 23,327,897, the Korea Disease Control and Prevention Agency (KDCA) said. The latest tally i...

Li Zhanshu, China's third-ranked official and chief of the Standing Committee of the National People's Congress, is expected to visit Seoul later this month, sources said Thursday, amid speculation he could discuss the possibility of President Xi Jinping visiting South Korea. Li is arranging to visit Seoul at the invitation of Assembly Speaker Kim Jin-pyo. The two are expected to commemorate the...

One in 5 foreign nationals staying in South Korea are illegal immigrants, with the number of undocumented immigrants rising to nearly 400,000, government data showed Thursday. According to the data compiled by the Ministry of Justice, 395,068 foreigners were staying in the country without a valid visa in July, about 20 percent of the entire population of foreign nationals residing in the country...

South Korean stocks got off to a weak start Thursday, tracking overnight losses on Wall Street, on lingering concerns over the US Federal Reserve's aggressive policy tightening and a global economic slowdown. The benchmark Korea Composite Stock Price Index (KOSPI) lost 39.89 points, or 1.61 percent, to trade at 2,432.16 points as of 9:15 a.m. The stock market has lost steam in recent sessions, ...

South Korea suffered a trade deficit for the fifth consecutive month in August for the first time in nearly 14 years on high global energy prices, though its exports rose 6.6 percent on-year, data showed Thursday. Outbound shipments stood at $56.67 billion last month, up from $53.2 billion a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. It is the hi...

A handful of matches into his Golden Boot defense, Son Heung-min is still in search of his first goal. In yet another uninspiring performance, the South Korean star for Tottenham Hotspur did not score in the club's 1-1 draw with West Ham United at London Stadium in London on Wednesday (local time). Spurs stretched their undefeated run from the start of the season with three wins and two draws. ...

WASHINGTON-- Joint military exercises between South Korea and the United States are important for maintaining peace and stability on the Korean Peninsula, a Pentagon spokesperson said Wednesday. South Korea and the US are currently conducting a regular joint exercise, called Ulchi Freedom Shield, which started last Monday. "What I would tell you is that these exercises do remain important, in t...

WASHINGTON -- The United States has given a positive response to South Korea's proposal to form a formal channel to discuss Seoul's concerns over the Inflation Reduction Act (IRA), a South Korean official said Wednesday. Deputy Trade Minister Ahn Sung-il also said the US fully understands South Korea's concerns over the new US law and that it is ready to discuss ways to minimize potential damage...