A 30-year-old man accused of threatening a driver with a knife over a parking dispute last week was referred to prosecutors for further investigation, police said Wednesday. The suspect, identified only by his surname Hong, was formally arrested last Wednesday for allegedly revealing to the driver a sashimi knife, tucked in his waist, following a dispute after the suspect parked his Lamborghini at a road in Seoul's Gangnam district on Sept. 11. His driver's license was revoked at the t

Social Affairs Sept. 20, 2023

US President Joe Biden on Tuesday condemned North Korea's continued violation of UN Security Council resolutions but reiterated his commitment to diplomacy to achieve the denuclearization of the Korean Peninsula. Biden made the remarks in a speech at the UN General Assembly as a recent summit between North Korean leader Kim Jong-un and Russian President Vladimir Putin deepened concerns about a potential arms deal that would violate multiple UNSC resolutions. "We condemned the DPRK's continu

Foreign Affairs Sept. 20, 2023

South Korean stocks started almost flat Wednesday as investors remained cautious awaiting the US Federal Reserve's rate decision. The benchmark Korea Composite Stock Price Index lost 1.61 points, or 0.06 percent, to 2,557.60 in the first 15 minutes of trading. All three US stock indexes closed lower Tuesday on the eve of the Federal Reserve's interest rate announcement, which is expected to keep rates on hold. But the market expects the US central bank may deliver one more rate hike th

Market Sept. 20, 2023

A special train carrying North Korean leader Kim Jong-un has arrived in Pyongyang after traveling to Russia for his summit with Russian President Vladimir Putin, the North's state media reported Wednesday. The train reached Pyongyang on Tuesday evening, after completing "external revolutionary activities" that will shine in the history of strengthening friendly relations between North Korea and Russia, according to the Korean Central News Agency. Kim was welcomed by top party and

North Korea Sept. 20, 2023

South Korea's producer prices expanded 0.9 percent on-month in August on the back of higher global oil prices, the central bank said Wednesday. The producer price index, a major barometer of consumer inflation, came to 121.16 last month, up from 120.08 tallied in July, according to the data from the Bank of Korea. From a year earlier, it rose 1 percent. It marked the sharpest on-month growth since a 1.6 percent rise tallied in April 2022. Producer prices are one of the key indicators that d

Economy Sept. 20, 2023

A US energy firm said Tuesday it will appeal a district court's decision earlier this week to dismiss its lawsuit filed to stop two South Korean state-run companies from exporting nuclear power plants. On Monday, the District Court for the District of Columbia rejected the complaint that Westinghouse Electric Co. filed against Korea Hydro & Nuclear Power and Korea Electric Power Corp. last October. The court determined that Westinghouse "lacks a private cause of action" and wa

Foreign Affairs Sept. 20, 2023

The foreign ministry said Tuesday it has asked the Japanese police to carry out a "prompt and fair" probe into an incident in which a restaurant served water containing bleach to a South Korean national. The request came after a South Korean national was hospitalized in Tokyo late last month after showing symptoms, such as vomiting, after drinking water served by the restaurant that contained bleach. The victim informed the South Korean embassy of the incident earlier this month, with

Foreign Affairs Sept. 19, 2023

The South Korean foreign ministry summoned the top Russian envoy to the country Tuesday to lodge a complaint over Moscow's discussions of arms deals and military cooperation with North Korea. Seoul's Vice Foreign Minister Chang Ho-jin called in Russian Ambassador Andrey Kulik earlier in the day and called for Moscow to comply with U.N. Security Council resolutions, the ministry said in a message to reporters. The summons came after North Korean leader Kim Jong-un held a summit with Rus

Foreign Affairs Sept. 19, 2023

South Korean stocks closed lower for the second consecutive day Tuesday, hit by sharp losses in semiconductor and major tech shares ahead of a US rate-setting meeting. The local currency slid against the US dollar. The benchmark Korea Composite Stock Price Index lost 15.51 points, or 0.6 percent, to finish at 2,559.21. Trading volume was moderate at 455.9 million shares worth 7.6 trillion won ($5.7 billion), with decliners outpacing winners 577 to 302. Offshore and retail investors purchased 2.6

Market Sept. 19, 2023

President Yoon Suk Yeol held summits with the leaders of Sri Lanka, San Marino and four other nations in New York on Monday, kicking off a series of bilateral meetings arranged on the sidelines of the UN General Assembly to seek support for South Korea's bid to host the 2030 World Expo. Yoon, who arrived in New York on Monday for a five-day visit, is scheduled to address the UN General Assembly on Wednesday and hold at least 30 bilateral summits on the margins, according to his office. Duri

Politics Sept. 19, 2023

LG Electronics Inc. said Tuesday it held a global conference aimed at enhancing its smart TV content and platform business. The South Korean tech company said some 300 content developers and business partners from 30 countries attended the webOS Partner Summit, held at LG Science Park in western Seoul, to extend the ecosystem and values of webOS, LG's own smart TV operating system. LG is "seeking to make a paradigm shift" away from a hardware maker to "a media and entertainme

Industry Sept. 19, 2023

South Korea will open the Asian Games men's volleyball tournament in Hangzhou on Wednesday, launching a bid for the country's 15th consecutive medal at the continental event. South Korea will begin Pool C action against India at Linping Sports Centre Gymnasium in Hangzhou at 7 p.m. Wednesday, or 8 p.m. the same evening in South Korea. South Korea will then play Cambodia on Thursday to wrap up the preliminary stage. There are six groups in action, with Pools A to E each featuring three

More Sports Sept. 19, 2023

Direct purchases South Koreans made from overseas almost tripled over the past four years, data from the Korea Customs Service showed Tuesday. According to the data submitted to Rep. Han Byung-do of the main opposition Democratic Party, South Korean shoppers made about 96,120,000 cross-border purchases online in 2022, up by almost threefold from 32,255,000 in 2018, the data showed. In the first half of this year, the figure came to 57,570,000. The surge in direct purchases from overseas also cam

Social Affairs Sept. 19, 2023

South Korean stocks started weaker Tuesday as investors take a cautious approach ahead of a US rate-setting meeting later this week. The benchmark Korea Composite Stock Price Index added 2.56 points, or 0.1 percent, to 2,577.28 in the first 15 minutes of trading. Overnight, US stocks also closed little changed. The Dow Jones Industrial Average grew 0.02 percent, the tech-heavy Nasdaq Composite inched up 0.01 percent, and the S&P 500 rose 0.07 percent. The Federal Reserve will hold the Federa

Market Sept. 19, 2023

A US district court on Monday dismissed a lawsuit that an American energy firm filed to stop two South Korean state-run companies from exporting nuclear power plants, determining it is not qualified to take the legal move. The District Court for the District of Columbia rejected the complaint that Westinghouse Electric Co. filed against Korea Hydro & Nuclear Power and Korea Electric Power Corp. last October. The US firm filed the suit to prevent the Korean companies from transferring technic

Foreign Affairs Sept. 19, 2023