Seoul shares start slightly lower on US losses

South Korean stocks opened slightly lower Friday as Wall Street experienced a sharp drop on weaker-than-expected earnings from tech heavyweights. The benchmark Korea Composite Stock Price Index (Kospi) fell 0.24 point, or 6.06 percent, to 2,550.09 in the first 15 minutes of trading. Overnight, U.S. stocks finished sharply lower. The Dow Jones Industrial Average declined 0.9 percent and the Nasdaq Composite dropped 2.8 percent after a disappointing outlook from Meta Platforms and Microsoft. In Se

MarketNov. 1, 2024

Exports rise 4.7% in Oct. to extend gains to 13th straight month

South Korea's exports extended on-year gains to the 13th straight month in October, data showed Friday, on the back of the robust performance of semiconductors. Outbound shipments rose 4.6 percent on-year to $57.5 billion last month, according to the data compiled by the Ministry of Trade, Industry and Energy. Imports added 1.7 percent on-year to $54.3 billion, resulting in a trade surplus of $1.62 billion. South Korea has been maintaining a trade surplus for 17 consecutive months. Exports

EconomyNov. 1, 2024

N. Korea says it successfully test-fired new Hwasong-19 ICBM

North Korea said Friday it successfully test-fired the new Hwasong-19 intercontinental ballistic missile (ICBM) the previous day, with its leader Kim Jong-un saying the country has secured an "irreversible" status of developing delivery means of nuclear weapons. Guided by Kim, North Korea carried out a "crucial" missile test that set milestones in "perpetuating the absolute superiority" of the country's armed forces, according to the Korean Central News Agency.

North KoreaNov. 1, 2024

Some 8,000 N. Korean troops in Russia's Kursk region, expected to enter combat in 'coming days': Blinken

As many as 8,000 North Korean troops have been deployed to Russia's western front-line Kursk region and are expected to enter into combat "in the coming days," US Secretary of State Antony Blinken said Thursday, warning that they would become "legitimate" military targets. Blinken made the remarks during a press conference after he, Defense Secretary Lloyd Austin, South Korean Foreign Minister Cho Tae-yul and Defense Minister Kim Yong-hyun held their "two-plus-two&q

North KoreaNov. 1, 2024

[Well-curated] Explore history of coffee in Korea, grab a book and savor Disney magic

Coffee, just drink? Coffee is a drink South Koreans cannot live without; it’s what they grab in the morning to wake up, in the afternoon for a quick pick-me-up and later to stay alert and work overtime. “What A Brew-tiful Day!” is a special exhibition at the National Folk Museum of Korea that sheds light on how coffee has become an intrinsic part of Korean life. “Koreans on average consume 405 cups of coffee in a year, more than twice the global average. Koreans’ se

Arts & DesignNov. 1, 2024

[Box office] Movies in theaters this week

“Amazon Bullseye” (South Korea) Opened Oct. 30 Drama/Adventure Directed by Kim Chang-joo Former archer Jin-bong (Ryoo Seung-ryong) crash-lands in Boledor where he meets Amazon tribe members and ends up bringing them to Korea to make them the national archery team of Boledor, with the help of a Korean interpreter Bbang-sik (Jin Seon-kyu). “Venom: The Last Dance” (US) Opened Oct. 23 Action/Sci-fi Directed by Kelly Marcel Former journalist Eddie Brock (Tom Hardy) and his

FilmNov. 1, 2024

[Around the Hotels] Promotions and packages

Park Hyatt Seoul offers package for luxury hotel experience Park Hyatt Seoul, located in Gangnam, southern Seoul, unveiled a new room package, promoting the hotel’s newly renovated Diplomatic Suite for guests who wish to enjoy a luxurious hotel experience. The “Diplomatic Family Suite” package includes a one-night stay in the Diplomatic Suite, with the connected Deluxe Twin room for four guests, a 300,000 won dining credit, breakfast, and free access to the sauna, fitness studi

CultureNov. 1, 2024

[Travel Bits] Festivals, sights across Korea

Geoje Island Flower Festival The free flower festival will run from 10 a.m. to 8 p.m. through Sunday at the Geoje Agricultural Development Institute, which also serves as a theme park in Geoje, South Gyeongsang Province. Over 100 different types of chrysanthemums and 250 kinds of camellias will be showcased. Artworks like paintings and photos shedding light on the region will be on exhibit as well. Check out the latest at geoje.go.kr. Pink Muhly Festival Admire the shining pink muhly g

TravelNov. 1, 2024

[Herald Interview] Now as group of seven, Kep1er continues their journey with new album

Kep1er, a project girl group formed through Mnet’s idol survival program “Girls Planet 999” in 2021, returns as seven with the new mini album “Tipi-Tap” on Friday. This is their first album release after Kang Ye-seo and Sakamoto Mashiro departed from the group in July. The remaining seven members of the group extended their exclusive contract with Klap Entertainment and WakeOne Entertainment becoming the first K-pop project group to prolong their activities beyond t

K-popNov. 1, 2024

[Robert Fouser] Accepting migrants in South Korea

Last week, the Ministry of the Interior and Safety reported that 2,459,542 foreign residents were living in South Korea as of November 2023. In the ministry's case, the term “foreign residents” includes foreign nationals living in the country for three months or more as well as most naturalized citizens. The number of foreign residents, which is close to reaching almost 5 percent of the population, is the highest in South Korean history. The continued increase in the number of f

ViewpointsNov. 1, 2024

Presidential office says Czech nuclear power project to proceed as planned

The presidential office said Thursday that a South Korean nuclear power plant project in the Czech Republic will proceed as planned despite a temporary hold placed by the Czech antitrust body. On Wednesday, news reports said the Czech Office for the Protection of Competition had imposed the hold in response to appeals filed by U.S. nuclear energy firm Westinghouse Electric Co. and French energy company Electricite de France. The news came as a South Korean consortium, led by Korea Hydro &

IndustryOct. 31, 2024

S. Korea conducts 1st interagency field training against space debris risks

South Korea on Thursday conducted its first interagency field training exercise aimed at coping with potential hazards from space debris, the Joint Chiefs of Staff (JCS) said. The exercise, organized by the JCS, was conducted at the Air Force's 20th Fighter Wing, attended by relevant agencies, including the Korea Aerospace Administration and the National Fire Agency, officials said. Under a scenario of space debris falling on South Korean territory, participating agencies and the military

DefenseOct. 31, 2024

Uzbek delegate stresses multidimensional ties between S. Korea and Uzbekistan

Relations between South Korea and Uzbekistan have climbed to new heights, with the two sides continuing to set new milestones as bilateral ties mature, Uzbek Ambassador to South Korea Alisher Abdusalomov said at the Global Business Forum in Seoul on Wednesday. In the forum’s sixth weekly session held Wednesday, the delegate explained the strong partnership that Seoul and Tashkent have fostered since Uzbekistan declared independence in 1991 and the two countries' establishment of dip

Diplomatic CircuitOct. 31, 2024

S. Korea discloses airstrike drills against mobile missile launcher after NK ICBM launch

South Korea's military said Thursday it staged airstrike drills against a mock mobile missile launcher earlier this week in an apparent warning against North Korea's latest firing of an intercontinental ballistic missile (ICBM). The drills took place Wednesday at a training ground in Taebaek, 181 kilometers east of Seoul, as part of the ongoing Freedom Flag air exercise with the US, a day before North Korea launched an ICBM into the East Sea. Hours after the launch, the Joint Chiefs

North KoreaOct. 31, 2024

KNOC inks 4 mln-barrel oil storage agreement with Kuwait

South Korea's state-run oil company said Thursday it has signed an agreement with Kuwait Petroleum Corporation to store 4 million barrels of oil from the Middle Eastern country that can be accessed in case of a global energy crisis, adding to Seoul's efforts to secure a stable supply of energy sources. Under the agreement, the Korea National Oil Corp. (KNOC) will store the barrels in the southeastern industrial city of Ulsan, where they can be supplied domestically when needed. "A

CompaniesOct. 31, 2024

Chinese police ranked 2nd in N. Korean enforced disappearances: report

Chinese police rank as the second-largest force after North Korea's secret police in arresting and facilitating the enforced disappearances of North Koreans, according to a report released by a human rights organization Thursday. The Seoul-based nonprofit Transitional Justice Working Group released findings based on data from 66 cases involving 113 North Korean victims of enforced disappearance. The data was collected through in-depth interviews with 62 North Korean escapees in South Korea

North KoreaOct. 31, 2024

Amorepacific Q3 earnings more than double on overseas sales

South Korean cosmetics giant Amorepacific said Thursday that its third-quarter operating profits nearly doubled, driven by strong overseas sales and improved operational efficiency in the domestic market. According to a regulatory filing, Amorepacific posted revenue of 1.07 trillion won ($775 million) and an operating profit of 75 billion won in the third quarter of 2024, up 11 percent and 160 percent, respectively, year-over-year. The company attributed this growth largely to its global rebal

CompaniesOct. 31, 2024

Financial watchdog puts brakes on Korea Zinc’s W2.5tr capital increase

Korea Zinc’s decision to execute a 2.5 trillion won ($1.8 billion) paid-in capital increase has come under the scrutiny of financial authorities. The country’s financial watchdog views there could be a possibility of unfair practice in a potential overlap in the period. “The Financial Supervisory Service will look into whether there had been any illegality in the execution of Korea Zinc’s tender offer and paid-increase,” Ham Yong-il, the deputy chair at the watchdog

MarketOct. 31, 2024

[Exclusive] MCM to open flagship store in Lotte’s metaverse next week

Luxury fashion and leather goods company MCM plans to launch its metaverse flagship store on a platform powered by Lotte Innovate as early as Nov. 7, joining global luxury brands tapping into the virtual world with a digital second life. MCM products can be purchased directly on the platform Caliverse once a market develops, according to sources with direct knowledge of the matter. “Initially, we will link users interested in buying to the official MCM website. We’ll see how that pan

Arts & DesignOct. 31, 2024