Articles by Yonhap
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4th Winter Youth Olympics celebrates growth of young athletes in closing ceremony
The fourth edition of the Winter Youth Olympics wrapped up in eastern South Korea on Thursday, as the closing ceremony marked the growth of teenage athletes during the two-week competition. Gangwon Province hosted a record 1,802 athletes from 78 nations during the first Winter Youth Games to take place outside Europe. They got to compete at many of the same facilities that held events for the 2018 PyeongChang Winter Games across Gangwon. Host South Korea finished with seven gold, six silver and
More Sports Feb. 1, 2024
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Japan removes monument for Korean forced labor victims despite criticism
A Japanese local government has taken down a memorial stone for Korean victims of Japan's wartime forced labor at a public park earlier this week despite opposition from activist groups. Authorities from Gunma Prefecture began pulling down the stone on Monday and finalized the removal on Wednesday, Japan's Asahi Shimbun newspaper reported the next day. Aerial photographs taken by the news outlet showed the remains of what appeared to the base of the memorial stone smashed into pieces
Foreign Affairs Feb. 1, 2024
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Host S. Korea grabs 2 gold medals on final day of Winter Youth Olympics
South Korea picked up two gold medals on the final day of the Winter Youth Olympics on home soil Thursday, producing a pair of double gold medalists in the process. South Korea captured the gold medal in figure skating's team event at Gangneung Ice Arena in Gangneung, some 160 kilometers east of Seoul, over the United States and Canada. South Korea earned 13 points, with a victory in each discipline worth five points. The U.S. had 12 points and Canada finished with nine. Kim, who won the me
More Sports Feb. 1, 2024
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N. Korean delegation to visit Moscow on Feb. 13: Russian lawmaker
A North Korean delegation may visit Moscow later this month and a Russian delegation plans to make a reciprocal trip to Pyongyang in March, a Russian lawmaker said Thursday. The North Koreans are expected to visit the lower house of the Russian parliament on Feb. 13, and Russian lawmakers plan to reciprocate their visit the next month, Kazbek Taysaev, a deputy of the Communist Party, told Russia's Sputnik news agency. The delegations' planned visits come as the two nations have been se
North Korea Feb. 1, 2024
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Klinsmann hoping S. Korea can play to strengths vs. Australia in quarterfinals
South Korea head coach Jurgen Klinsmann said Thursday he will try to get his side to play to their strengths against Australia in the quarterfinals of the Asian Football Confederation Asian Cup in Qatar. "We're excited to play them. It will be a 50-50 match. It will be a hard-fought match. We're ready for the battle," Klinsmann said at the Main Media Centre in Doha on the eve of the clash against the Socceroos. "We have to be very alert for their counterattacks. They
Soccer Feb. 1, 2024
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Seoul shares spike nearly 2% on export recovery despite dashed hope for Fed's early rate cuts
South Korean stocks rose by almost 2 percent Thursday despite overnight Wall Street losses, with techs and autos climbing as the nation's exports rose for the fourth month. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index climbed 45.37 points, or 1.82 percent, to 2,542.46. Trade volume was heavy at 741.3 million shares worth 13.3 trillion won ($9.98 billion), with winners outpacing losers 668 to 239. South Korea's exports moved up for the fourt
Market Feb. 1, 2024
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GS Engineering ordered to halt operations for 8 months over parking garage collapse
The government on Thursday imposed an eight-month business suspension on GS Engineering & Construction Corp. over the collapse of a parking garage at an apartment construction site in Incheon last year. The land ministry said GS Engineering, along with four smaller consortium partner builders, will be subject to business suspensions over the underground parking garage collapse at the apartment complex site in Geomdan-dong in Incheon, west of Seoul, in April 2023. GS Engineering and its partn
Economy Feb. 1, 2024
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BOK chief voices need to keep restrictive monetary policy for long time
Bank of Korea Gov. Rhee Chang-yong said Thursday that monetary policy needs to stay restrictive for a long time, reaffirming the central bank's commitment to bringing inflation down. Rhee said the BOK's "tightening stance needs to be maintained for a sufficiently long time, checking the monetary policy, inflation and financial stability data of major countries." In a forum hosted by a business lobby for employers, Rhee said a "half-baked" rate cut may provide stimulus to sent
Economy Feb. 1, 2024
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Cuba's new envoy to NK assumes post amid Pyongyang's move to resume diplomacy
Cuba's new ambassador to North Korea has begun his duties, according to the North's state media Thursday, as countries having friendly ties with North Korea have ramped up diplomatic activities in the secretive regime since the opening of its border. North Korean leader Kim Jong-un was presented with the credentials of Cuban Ambassador Eduardo Luis Garcia Correa from Cuban President Miguel Diaz-Canel, according to the Korean Central News Agency. The letter of credence was received by C
North Korea Feb. 1, 2024
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Seoul shares open higher despite overnight Wall Street losses
South Korean stocks opened higher Thursday despite overnight Wall Street losses from the US Federal Reserve's indication that it won't likely cut interest rates next month against the hopes of many investors. The benchmark Korea Composite Stock Price Index climbed 9.56 points, or 0.38 percent, to 2,506.65 in the first 15 minutes of trading. Overnight, the US Fed held its benchmark lending rate steady for the fourth consecutive time. After the two-day Federal Open Market Committee meeti
Market Feb. 1, 2024
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Exports rise for 4th month in January on semiconductor recovery
South Korea's exports moved up for the fourth consecutive month in January as exports of chips rose at the sharpest rate in around six years, data showed Thursday. Outbound shipments advanced 18 percent on-year to $54.6 billion last month, according to the data compiled by the Ministry of Trade, Industry and Energy. Imports fell 7.8 percent on-year to $54.3 billion last month, resulting in a trade surplus of $300 million. South Korea has been maintaining a monthly trade surplus since June 2
Economy Feb. 1, 2024
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US industry group calls for multilateral chip export controls to address disadvantage over S. Korea, other allies
An American industry group has called on the US government to craft new multilateral chip equipment export controls, claiming the current strict unilateral ones put US firms at a disadvantage over their rivals from South Korea and other countries. The Semiconductor Industry Association made the call in their written comments sent to the Bureau of Industry and Security under the Commerce Department on Jan. 17, as it stressed the need for the new controls to ensure what it called a "level pla
World Business Feb. 1, 2024
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US Fed keeps key lending rate unchanged for 4th straight time
The US Federal Reserve held its benchmark lending rate steady for a fourth consecutive time during a monetary policy meeting on Wednesday, amid expectations that it would start lowering rates later this year. After the two-day Federal Open Market Committee meeting, the central bank announced its decision to keep the rate between 5.25 and 5.50 percent, as Fed Chair Jerome Powell said that a rate cut in March is "probably not the most likely case." The bank has maintained the rate at the
World News Feb. 1, 2024
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Stage X picked as new operator of 5th-generation network
A local consortium was selected as the new operator of the 28 gigahertz band of the fifth-generation network in South Korea on Wednesday, the science ministry said, becoming the country's fourth mobile carrier. Stage X, a consortium of Stage Five, a communications affiliate of tech giant Kakao Corp., and other unidentified companies, will be the fourth operator of the 5G network. Currently, three major mobile carriers -- SK Telecom Co., KT Corp. and LG Uplus Corp. -- are the country's
Industry Jan. 31, 2024
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Samsung C&T 2023 net profit up on construction, resort business
Samsung C&T said Wednesday its 2023 net profit gained 6.8 percent from a year earlier, driven by the strong performance of its construction and resort business. The net profit came to 2.71 trillion won ($2 billion) in the three months ended in December, compared with 2.54 trillion won a year ago, the company said in a regulatory filing. Operating profit was 2.87 trillion won, compared with 2.52 trillion from the previous year, and annual sales fell 2.9 percent to 41.89 trillion won. The trad
Industry Jan. 31, 2024
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