As many as 10,000 North Korean troops are in Russia's western front-line Kursk region and could engage in combat in the "coming days," a State Department spokesperson said Monday, amid growing concerns that their involvement could expand Moscow's war in Ukraine. Matthew Miller, the spokesperson, made the remarks as Ukrainian President Volodymyr Zelenskyy said in a video message earlier that there are already 11,000 North Korean troops in the Kursk region. "We now assess

Foreign Affairs Nov. 5, 2024

South Korea's consumer prices slowed to the lowest level in 45 months in October on stabilizing oil prices, staying below 2 percent for the second consecutive month, data showed Tuesday. Consumer prices, a key gauge of inflation, rose 1.3 percent on-year last month, compared with a 1.6 percent on-year increase in September, according to the data from Statistics Korea. October's figure marked the lowest level since January 2021, when consumer prices grew 0.9 percent. Consumer inflation

Economy Nov. 5, 2024

A South Korean government delegation to Ukraine returned home Monday after visiting Kyiv to discuss possible cooperation measures in response to North Korea's troop deployment to Russia, officials said. The delegation, consisting of senior intelligence and military officials, visited Ukraine after briefing the North Atlantic Treaty Organization in Brussels last week over the North's troop dispatch. The visit came as South Korea has signaled a potential shift in its Ukraine support poli

Foreign Affairs Nov. 4, 2024

South Korea and the United States formally signed a defense cost-sharing agreement Monday, as Seoul seeks to speed up its domestic ratification procedure to ensure the stable stationing of American troops here ahead of the US elections. The signing came a month after the allies reached a new five-year deal on determining Seoul's share of its cost for the upkeep of the 28,500-strong US Forces Korea. Foreign Minister Cho Tae-yul and US Ambassador to South Korea Philip Goldberg signed the deal

Foreign Affairs Nov. 4, 2024

GWANGJU -- Prosecutors on Monday demanded prison terms of up to 10 years for company officials accused of involvement in the deadly collapse of an apartment building in Gwangju in 2022. The collapse of the 39-story apartment building under construction left six workers dead and one injured in January 2022. An investigation found that deck plates and concrete supports affecting the building's bearing capacity had been installed without a structural review. During the final hearing at Gwang

Social Affairs Nov. 4, 2024

South Korean stocks soared nearly 2 percent Monday to snap their three-day decline as the main opposition party agreed to scrap a planned tax on financial investments. The local currency sharply rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 46.61 points, or 1.83 percent, to close at 2,588.97. Trade volume was a little slim at 367.8 million shares worth 7.9 trillion won ($5.8 billion), with winners outnumbering losers 619 to 254. Foreigners and institutions purc

Market Nov. 4, 2024

US Democratic presidential candidate Kamala Harris and her Republican rival Donald Trump are bracing for this week's high-stakes election showdown, with various polls showing them in a tight margin-of-error race. Voters will go to polling stations nationwide on Tuesday to pick a new president. More than 75 million Americans had already cast an early ballot, data from the University of Florida showed. The number of eligible voters is estimated at about 244 million, according to the Bipartisa

Foreign Affairs Nov. 4, 2024

The foreign ministry will host a group of foreign diplomats this week for a joint conference and other programs with the UN to brief them on South Korea's disarmament efforts and its North Korea policy, the ministry said Monday. The two-day South Korea-UN disarmament conference, running through Tuesday, will bring together 25 diplomats from Europe, Latin America, the Asia-Pacific, Africa and the Middle East who are currently engaged in disarmament diplomacy, the ministry said in a release.

Foreign Affairs Nov. 4, 2024

Ruling party leader Han Dong-hoon on Monday called on President Yoon Suk Yeol to issue a public apology and reshuffle aides at the presidential office to address growing concerns over allegations surrounding the first lady. Han of the People Power Party made the remarks during a meeting of the party's supreme council, calling for a "complete" personnel overhaul of the presidential aides. "The president should publicly and thoroughly address the concerns of the people, issue a

Politics Nov. 4, 2024

South Korean stocks kicked off slightly higher Monday tracking tech gains on Wall Street, while investors were paying close attention to the US presidential election and the Federal Reserve's rate decision to take place later this week. The benchmark Korea Composite Stock Price Index rose 8.6 points, or 0.34 percent, to 2,550.96 in the first 15 minutes of trading. On Friday, Wall Street finished higher, with the Dow Jones Industrial Average up 0.69 percent, the tech-heavy Nasdaq composite u

Market Nov. 4, 2024

Prime Minister Han Duck-soo will deliver the government's 2025 budget speech at the National Assembly on behalf of President Yoon Suk Yeol on Monday, Han's office said. It marks the first time in 11 years that a sitting president has not addressed parliament on the annual budget. Yoon presented the budget speech the past two years after taking office in May 2022. Since 1988, it has been customary for presidents to outline their key priorities to lawmakers before submitting the governme

Politics Nov. 4, 2024

European Union foreign policy chief Josep Borrell said Sunday he will discuss ways to advance the EU's security and defense cooperation with South Korea during his visit to Seoul. Borrell, the EU's high representative for foreign affairs and security policy, wrote on social media platform X that he arrived in Seoul to co-chair the first Strategic Dialogue with Foreign Minister Cho Tae-yul. "Over the past years, we have become even closer partners making significant progress with t

World News Nov. 3, 2024

The 2024 South Korean baseball champions Kia Tigers said Sunday they have given manager Lee Bum-ho a new three-year contract. The announcement came six days after Lee led the Tigers to the Korean Series title over the Samsung Lions in his first season in charge. Lee, 42, will make 2.6 billion won ($1.88 million) total in his new deal, which will take effect immediately in place of the second year of the two-year, 900 million-won contract Lee had signed in February. Under the new pact, Lee will e

Baseball Nov. 3, 2024

Kyiv's defense intelligence agency has said Russia appears to have deployed more than 7,000 North Korean soldiers, armed with AK-12 rifles, mortar rounds and other assault weapons, to areas near the border with Ukraine. South Korea and the West have warned that North Korean troops in Russia may soon enter into combat against Ukraine that would pose a major security threat to both Europe and the Indo-Pacific region. The Defense Intelligence of Ukraine (DIU) said on Saturday (local time) that

World News Nov. 3, 2024

The National Assembly is set to begin deliberations on the 2025 budget proposal this week, with ruling and opposition parties expected to wrangle over spending on controversial projects. On Monday, the National Assembly is set to begin deliberations on next year's budget of 677.4 trillion won ($509.7 billion), a 3.2 percent increase from the previous year. The ruling People Power Party is expected to advocate the government's focus on discretionary spending due to fiscal deficit, while

Politics Nov. 3, 2024