The Cabinet on Tuesday demanded the National Assembly reconsider two contentious bills aimed at enhancing the rights of workers and providing cash handouts to the entire population. A motion demanding parliamentary reconsideration was approved during a Cabinet meeting and will be sent to President Yoon Suk Yeol for endorsement. Yoon is widely expected to endorse the motion. One bill, known as the "yellow envelope bill," seeks to limit companies from making damage claims against workers

Politics Aug. 13, 2024

South Korean food company CJ CheilJedang Corp. said Tuesday its second-quarter net profit rose 16 percent from a year earlier on increased sales of food and high-end products. Net profit for the three months to June rose to 147.82 billion won ($108 million) from 127.46 billion won during the same period of last year, the company said in a statement. "Strong overseas sales of dumpling products under CJ's Bibigo brand and other food products buoyed the quarterly results. And increased sa

Economy Aug. 13, 2024

South Korean stocks opened slightly higher Tuesday as investors are awaiting the release of major US economic data due later this week. The benchmark Korea Composite Stock Price Index (Kospi) rose 5.8 points, or 0.22 percent, to 2,624.10 in the first 15 minutes of trading. Overnight, major US indexes finished mixed, with the S&P 500 almost unchanged, the Dow Jones Industrial Average down 0.4 percent, and the tech-heavy Nasdaq composite up 0.2 percent. Investors' eyes are on the US consu

Market Aug. 13, 2024

President Yoon Suk Yeol held a dinner meeting with former President Lee Myung-bak and his wife Monday, in what marked their first official dinner since Yoon took office. First lady Kim Keon Hee and Chung Jin-suk, Yoon's chief of staff who had served as a senior secretary to Lee for political affairs, also attended the dinner. The meeting came around a year after Yoon and Lee, who served as president from 2008 to 2013, briefly met at the funeral of Yoon's father in August 2023. In Decem

Politics Aug. 12, 2024

South Korea has deployed a bedbug sniffer dog at its main Incheon international airport in a bid to reduce the risk of the tiny insects entering the country when athletes, officials and fans return from the Paris Olympics. Leading the campaign is a two-year-old beagle named Ceco, who pest control company Cesco said is the first and so far only canine trained in the country to detect the odor of pheromones, the chemicals released by bedbugs. Ceco is capable of sweeping a standard hotel room in un

More Sports Aug. 12, 2024

The tropical night phenomenon has continued in Seoul for 22 days in a row, the third longest on record, the state weather agency said Monday. Seoul has experienced yet another tropical night phenomenon overnight, marking the third longest on record since modern meteorological observation began in the city in 1907, the Korea Meteorological Administration (KMA) said. A tropical night refers to a phenomenon when the nighttime temperatures stay above 25 degrees Celsius from 6:01 p.m. to 9 a.m. the f

Social Affairs Aug. 12, 2024

Vice ministers from various government agencies will hold a meeting this week to address growing safety concerns over electric cars, following the recent explosion of an electric sedan in an underground apartment parking lot, the government said Monday. The Office for Government Policy Coordination is set to preside over the vice ministerial meeting on Tuesday as part of the government's plan to announce a set of measures to prevent electric car fires early next month, according to offici

Social Affairs Aug. 12, 2024

South Korean stocks closed more than 1 percent higher Monday, recovering from last week's rout as concerns over a US economic recession eased. The local currency lost ground against the US dollar. The benchmark Korea Composite Stock Price Index gained 29.87 points, or 1.15 percent, to 2,618.30, rising for the second consecutive day. Trade volume was slim at 286.2 million shares worth 7.4 trillion won ($5.4 billion), with winners far outnumbering losers 674 to 202. Foreigners and institution

Market Aug. 12, 2024

North Korean leader Kim Jong-un took swipe at South Korean media reports on flood damage in the North in an apparent attempt to divert public attention from the emergency situation, Seoul's unification ministry said Monday. During a visit to flood-hit areas of Uiju County in the northwestern province of North Pyongan last week, Kim lashed out at South Korean media reports that floods in areas along the Amnok River generated massive casualties. Kim rebuked South Korean media outlets as the m

North Korea Aug. 12, 2024

The main opposition Democratic Party urged President Yoon Suk Yeol on Monday to withdraw the appointment of the new chief of the Independence Hall of Korea amid criticism of his controversial views accused of justifying Japan's 1910-45 colonial rule. The appointment of Kim Hyoung-suk as head of the museum focusing on the country's independence movement during the colonial rule has sparked criticism over some of his past remarks seen by critics as "New Right" and pro-Japanese

Politics Aug. 12, 2024

The government will bring in 300 immigrant workers annually through a pilot visa program to address workforce shortages in power transmission line construction, officials said Monday. Under the two-year trial program, the government will issue E-7 work visas to 300 foreign workers annually, who will be employed in the country's power line construction industry, the justice and industry ministries said. The industry is struggling to hire new workers due to its dangerous and demanding work en

Social Affairs Aug. 12, 2024

South Korea and the United States will begin a major combined military exercise next week to strengthen their joint defense readiness in the face of evolving North Korean military threats, the Joint Chiefs of Staff said Monday. The annual Ulchi Freedom Shield exercise is set to take place from Aug. 19-29, featuring the main computer simulation-based command post exercise, concurrent field training and civil defense drills. The move comes amid heightened cross-border tensions due to Pyongyang

Defense Aug. 12, 2024

The chief of the financial regulator called on local companies to actively join the government-initiated corporate value-up program Monday, stressing the need to build a stock market that is "stronger" and can "recuperate faster." Kim Byoung-hwan, head of the Financial Services Commission, made the call in a meeting with the heads of eight local businesses that have made public disclosures about their corporate value-up efforts or promised to do so in the near future. "I

Market Aug. 12, 2024

South Korean stocks opened higher Monday on eased woes over a US recession after last week's rout. The benchmark Korea Composite Stock Price Index added 26.81 points, or 1.04 percent, to 2,615.24 in the first 15 minutes of trading. Major US indexes finished higher Friday following a rout as recession woes diminished thanks to better-than-expected unemployment data. Investors' eyes are now on the US consumer price, producer price and retail sales data due out later this week. In Seoul,

Market Aug. 12, 2024

PARIS(Yonhap) -- South Korea capped its better-than-expected run at the Paris Olympics with two more medals on the final day of the competition Sunday. Seong Seung-min grabbed bronze in the women's modern pentathlon and became the first Asian to reach the podium since the women's event was added to the Olympics in 2000. After equestrian show jumping, fencing, swimming and laser run, which combines running and laser pistol shooting, Seong finished in third place with 1,441 points, behin

More Sports Aug. 11, 2024