Articles by Yonhap
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Seoul shares end higher on rate-cut hopes after jobs data
Seoul shares ended higher Friday after the latest jobs data supported the case for US rate cuts this year. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 15.49 points, or 0.57 percent, to close at 2,727.63. The main index has risen 1.9 percent this week. Trading volume was moderate at 568.36 million shares worth 11.07 trillion won ($8.09 billion), with gainers outpacing losers 489 to 365. The number of US unemployment claims jumped last week to th
Market May 10, 2024
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Nuclear envoys of S. Korea, China discuss Korean Peninsula issues in Tokyo
The top nuclear envoys of South Korea and China discussed issues related to the Korean Peninsula on the margins of a multilateral security dialogue in Japan earlier this week, Seoul's foreign ministry said Friday. The talks between Lee Jun-il, director general for North Korean nuclear affairs, and Liu Xiaoming, China's special representative on Korean Peninsula affairs, took place Thursday in Tokyo on the sidelines of the Northeast Asia Cooperation Dialogue, an annual public-private se
Foreign Affairs May 10, 2024
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Yoon names new senior secretary for civil and social agenda
President Yoon Suk Yeol on Friday named a new senior presidential secretary for civil and social agenda following the previous secretary's resignation over intimidating remarks to reporters. Jeon Kwang-sam, who until recently served as presidential secretary for civil society and communication, was promoted to the position left vacant by the resignation of Hwang Sang-moo in March. "He is someone whose political acuteness and communication skills have been recognized based on the rich e
Politics May 10, 2024
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S. Korea stages defense drills for western border islands
South Korea's military has staged joint defense drills for western border islands to bolster readiness against North Korean threats, the Marine Corps said Friday. The three-day exercise began Wednesday on the border islands in the Yellow Sea, including Baengnyeong Island, joined by troops from the Army, the Navy, the Air Force and the Marine Corps. The Marine Corps said the annual joint drills are "defensive" in nature to enhance the military's joint capabilities. The maneuve
Defense May 10, 2024
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Seoul shares open higher on Fed's rate-cut hopes
Seoul shares opened higher Friday, tracking gains on Wall Street, after weekly US jobless claims data offered fresh hope for the Federal Reserve's rate cuts this year. The benchmark Korea Composite Stock Price Index rose 28.15 points, or 1.04 percent, to 2,740.29 in the first 15 minutes of trading. The number of US jobless claims jumped last week to the highest level in more than eight months, renewing hopes for the Fed's rate cuts. Overnight, the Dow Jones Industrial Average increased
Market May 10, 2024
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Medical professors set to take day off amid protracted walkouts by junior doctors
Medical professors at major hospitals took a day off Friday, the third of its kind in two weeks, as they expressed fatigue from filling the void of trainee doctors who left their worksites in protest of the government's medical reform. While fatigued medical professors take a leave of absence, treatment of critically ill patients and inpatient services at their hospitals are provided, according to the hospitals. Medical professors took a day off on April 30 and May 3, but no major disruptio
Social Affairs May 10, 2024
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Pentagon refuses to comment on whether Korea should offer lethal arms support to Ukraine
A Pentagon spokesperson refused Thursday to comment on whether the United States wants Seoul to provide lethal arms support to Ukraine, after South Korean President Yoon Suk Yeol reaffirmed his administration's policy against any provision of offensive weapons to the war-torn country. Seoul has maintained a stance to offer humanitarian and non-lethal defense assistance to Ukraine, such as protective suits, demining equipment and other military supplies, though pressure has continued for arm
World News May 10, 2024
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Seoul shares dip over 1% amid US rate uncertainties
South Korean shares declined by more than 1 percent Thursday as investors remained concerned over the future course of the US key rates ahead of the release of inflation data next week. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 32.91 points, or 1.2 percent, to close at 2,712.14. Trading volume was moderate at 413 million shares worth 10.9 trillion won ($7.95 billion), with losers outpacing gainers 531 to 355. Foreign investors offloaded a
Market May 9, 2024
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Yoon says will create new ministry to tackle low birth rate
President Yoon Suk Yeol said Thursday he will create a new ministry to tackle the country's low birth rate. Yoon made the remark during an address to the nation marking the second anniversary of his presidency. "In order to overcome the low birth rate, which can be considered a national emergency, we will fully mobilize all of the state's capabilities," he said. The head of the new ministry, tentatively named the "low birth response planning ministry," will double a
Politics May 9, 2024
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S. Korea's fiscal deficit hits record high through March
South Korea's fiscal deficit reached an all-time high in the first three months of 2024 due to rising expenditures aimed at buttressing an economic recovery, the finance ministry said Thursday. The managed fiscal balance, a key gauge of fiscal health calculated on a stricter term, posted a deficit of 75.3 trillion won ($55.07 billion) in the January-March period, up from the previous year's 54 trillion won, the finance ministry said in its monthly public finance report. This year'
Politics May 9, 2024
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Seoul shares open flat ahead of US inflation data
South Korean shares opened nearly flat Thursday as investors sat on the sidelines ahead of the release of the U.S. consumer price index next week. The benchmark Korea Composite Stock Price Index edged down 1.9 points, or 0.07 percent, to 2,743.15 in the first 15 minutes of trading. Investors remained cautious ahead of the release of the U.S. inflation data amid a mixed forecast over the future course of the Federal Reserve's key rates. Federal Reserve Bank of Boston President Susan Collins
Market May 9, 2024
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N. Korean leader voices 'firm support' in his message to Putin over Victory Day
North Korean leader Kim Jong-un has sent a congratulatory message to Russian President Vladimir Putin over Victory Day, expressing his "firm support and solidarity" with Moscow, state media reported Thursday. Kim extended his "warm congratulations and comradely greetings" to Putin in the message celebrating the 79th anniversary of the Soviet Union's World War II victory over Nazi Germany, according to the Korean Central News Agency. Kim touted Putin as leading efforts to
North Korea May 9, 2024
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Yoon to hold press conference marking 2nd anniversary of presidency
President Yoon Suk Yeol is set to hold a press conference Thursday to mark the second anniversary of his presidency, the first such session in 21 months. The press conference will be held at the presidential office in two parts -- first, an address on his administration's past achievements and future plans, followed by a question and answer session with reporters. Yoon is expected to field a wide range of questions, including his thoughts on the opposition's push for a special counsel investigat
Politics May 9, 2024
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Arrest warrant issued for medical student for allegedly killing girlfriend after breakup
A Seoul court on Wednesday issued an arrest warrant for a medical school student on charges of killing his girlfriend in Seoul earlier this week for allegedly breaking up with him. The 25-year-old, only identified by his surname Choi, who goes to a prestigious medical school in Seoul, was arrested without warrant on Monday for allegedly stabbing his girlfriend to death on the rooftop of a building in southern Seoul around 5 p.m. on Monday. The Seoul Central District Court issued the warrant af
Social Affairs May 8, 2024
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Yoon calls opposition leader to express concern for health
President Yoon Suk Yeol called opposition leader Lee Jae-myung on Wednesday to wish him good health before Lee goes on a weeklong vacation for hospital treatment later this week, Lee's main opposition Democratic Party said. Yoon made the call at around 2:40 p.m. and expressed concern for his health, while Lee expressed his gratitude, the Democratic Party said. Lee will take a weeklong leave from Thursday to next Wednesday to get treatment, which he had postponed due to the recent general
Politics May 8, 2024
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