Articles by Yonhap
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N. Korea appears to have discharged border dam water: environment ministry
North Korea appears to have discharged a "considerable" amount of water from the upstream of its dam near the inter-Korean border, Seoul's environment ministry said Wednesday. Satellite imagery taken at 3 p.m. showed the downstream of the Imjin River had significantly broadened in width, according to the ministry. The water level of South Korea's northernmost Pilseung Bridge on the Imjin River had reached 1 meter as of 5 p.m., up from 0.3 meter recorded three hours before. Th
North Korea Sept. 11, 2024
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Seoul shares fall for 7th day on foreign selling
South Korean stocks fell for the seventh consecutive session Wednesday led by foreign sell-off ahead of US inflation data that could influence the Federal Reserve's policy move next week. The Korean won traded higher against the US greenback. The benchmark Korea Composite Stock Price Index lost 10.06 points, or 0.4 percent, to close at 2,513.37. The main index has been in a bearish mode since Sept. 3. Trading volume was light at 294.1 million shares worth 9.4 trillion won ($7 billion), with
Market Sept. 11, 2024
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Defense chief says 'fundamental' solution to N. Korean threats lies on free, unified Korean Peninsula
Defense Minister Kim Yong-hyun said Wednesday that the "fundamental" solution to North Korea's nuclear and missile threats lies in achieving a free and unified Korean Peninsula. He made the statement during the Seoul Defense Dialogue, an annual security forum in Seoul. Kim emphasized that "the fundamental solution to North Korea's nuclear and missile threats and North Korean human rights issues lies in establishing a free and unified Korean Peninsula." He added that
North Korea Sept. 11, 2024
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Prosecutors to finalize decision on first lady's luxury bag case after chief retires
Prosecutors are expected to finalize their decision on the luxury bag scandal involving first lady Kim Keon Hee after an independent investigation review panel examines the Korean American pastor who gifted the bag to her, sources said Wednesday. Legal sources said that the Seoul Central District Prosecutors Office has decided to finalize the results of its investigation into allegations that Kim illegally received a Dior handbag and other expensive gifts from the pastor in 2022 after the review
Social Affairs Sept. 11, 2024
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Exports rise 24.6% during first 10 days of Sept. on strong chip sales
South Korea's exports rose 24.6 percent on-year in the first 10 days of May on robust global demand for semiconductors, data showed Wednesday. Outbound shipments reached $18.58 billion in the April 1-10 period, compared with $14.91 billion tallied a year earlier, according to the data from the Korea Customs Service. Per-day exports advanced 16.3 percent on-year to $2.48 billion. Imports added 11.3 percent on-year to $18.4 billion during the period, resulting in a trade surplus of $200 milli
Economy Sept. 11, 2024
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Job additions rise over 100,000 for 2nd straight month in Aug.
South Korea added more than 100,000 jobs for the second consecutive month in August, but jobs in the construction sector fell by the most ever amid an industry slowdown and extreme heat wave, data showed Wednesday. The number of employed people came to 28.80 million last month, up 123,000 from a year earlier, according to the data compiled by Statistics Korea. In July, the monthly job additions bounced back to over 100,000 for the first time in three months to come to 172,000. In June, 96,000 jo
Economy Sept. 11, 2024
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Seoul shares open lower ahead of US inflation data
South Korean stocks started a tad lower Wednesday as investors await the latest US inflation data that would give clues for the Federal Reserve's upcoming rate-setting decision. The benchmark Korea Composite Stock Price Index opened slightly higher but lost 0.13 percent, or 3.33 points, to 2,520.1 in the first 15 minutes of trading. On Wall Street, US stocks closed mixed amid rising slowdown concerns. The Dow Jones Industrial Average edged down 0.2 percent, and the Nasdaq composite rose 0.8
Market Sept. 11, 2024
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S. Korean midfielder Son Jun-ho banned for life by China over match-fixing charges
South Korean football player Son Jun-ho was hit with a lifetime ban by the Chinese national football body Tuesday over match-fixing charges. According to Chinese media reports, Zhang Xiaopeng, a senior official from the Ministry of Public Security, announced the findings of a two-year investigation that revealed online gambling, match-fixing and bribery cases. Chinese Football Association (CFA) president Song Kai confirmed 43 people have been banned for life from football-related activities, wit
Soccer Sept. 10, 2024
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BTS' Suga summarily indicted over DUI offense
Prosecutors have summarily indicted Suga of K-pop superband BTS on charges of driving an electric scooter under the influence of alcohol, officials said Tuesday. Late at night on Aug. 6, police officers found Suga trying to get up after falling off his electric scooter under the influence of alcohol near his residence in the Hannam neighborhood of the Yongsan district. His blood alcohol concentration was measured at 0.227 percent, far exceeding the 0.08 percent threshold, which is subject to the
Social Affairs Sept. 10, 2024
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Seoul shares dip for 6th session ahead of key US inflation data
South Korean shares extended their losing streak to six sessions Tuesday as investors took a cautious approach ahead of key US inflation data that would affect the upcoming rate-setting meeting. The local currency traded lower against the US greenback. The benchmark Korea Composite Stock Price Index lost 12.5 points, or 0.49 percent, to close at 2,523.43. The main index has continued its bearish mode since Sept. 3. Trading volume was light at 341.2 million shares worth 8.3 trillion won ($6.2 bil
Market Sept. 10, 2024
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Govt. to temporarily raise health insurance payments to hospitals for Chuseok holiday
President Yoon Suk Yeol said Tuesday the government will temporarily raise health insurance payments to hospitals for the upcoming Chuseok holiday to better reward their services and to prevent disruptions in emergency medical care. During a Cabinet meeting, Yoon addressed concerns over possible disruptions to the medical system during the extended holiday, which starts later this week, as a majority of junior doctors have stayed away from the job since February in protest of a sharp hike in the
Politics Sept. 10, 2024
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Finance minister calls for scrapping financial investment income tax
Finance Minister Choi Sang-mok has said the government needs to scrap a financial investment income tax and review various tax schemes regarding stock trading in an effort to ease market uncertainty and help boost the stock market. Under the investment income tax scheme, set to take effect next year, capital gains of over 50 million won ($38,000) from stock investments will be subject to a 20 percent tax, while earnings exceeding 300 million won will be subject to a 25 percent tax. "The sch
Economy Sept. 10, 2024
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AliExpress vows to step up marketing blitz in S. Korea
Alibaba Group's AliExpress said Tuesday it will step up marketing campaigns in South Korea with an aim of securing more than half of online shopping platform users in South Korea within three to five years. In a press conference held in Hangzhou, AliExpress Korea Chief Executive Ray Zhang announced the target for the Korean market, which is dominated by local e-commerce giant Coupang Inc. The Chinese e-commerce retail platform has aggressively promoted about 150 million products at competit
Companies Sept. 10, 2024
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FSS chief urges banks to curb household debts
The head of the financial watchdog on Tuesday called for banks to curb a continuing rise in household lending. Lee Bok-hyun, chief of the Financial Supervisory Service, made the call in a meeting with the heads of 18 banks. "Should we fail to keep household debts at a proper level in the future, it may lead to increased economic burden by expanding market volatility and working as an obstacle to economic growth," Lee told the meeting. Tuesday's meeting follows reports that househo
Politics Sept. 10, 2024
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Seoul records season's latest tropical night as heat wave continues into fall
Overnight temperatures in Seoul stayed above 25 C, marking the season's latest tropical night since meteorological observation began, the state weather agency said Tuesday. The lowest nighttime temperature overnight in the capital city was 25.6 C at 6 a.m., another tropical night that refers to a phenomenon where temperatures do not drop below 25 C until 9 a.m., according to the Korea Meteorological Administration. It marks the season's latest tropical night record in Seoul since recor
Social Affairs Sept. 10, 2024
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