The leader of the ruling People Power Party announced plans Thursday to provide an additional 15,000 won ($11) in electricity support to 1.3 million vulnerable households to help them better cope with the hot weather. Han Dong-hoon made the announcement during a meeting of the PPP supreme council, pointing out that many families are suffering from the record-breaking heat wave this summer. He explained his support scheme will essentially cover the entire electricity bill for the vulnerable house

Politics Aug. 8, 2024

Yonsei University has revoked the master's degree of a minor party leader's son following a court ruling related to the case, informed school officials said Thursday. The university recently decided to cancel the admission of Cho Won, the son of Cho Kuk, the chief of the Rebuilding Korea Party, into its graduate school of political science and diplomacy in 2018 and his master's degree earned from the same school in 2021, they said. The decision came after the Supreme Court confirm

Politics Aug. 8, 2024

A military intelligence official has been referred to the prosecution for allegedly leaking information of South Korean espionage agents operating overseas, the defense ministry said Thursday. "The Defense Counterintelligence Command has referred the civilian official at the Korea Defense Intelligence Command to the military prosecution on charges of violating the Military Secret Protection Act ... as well as espionage charges," the defense ministry said in a statement. The official, w

Defense Aug. 8, 2024

The government is considering requiring electric vehicle manufacturers to disclose information on car batteries amid an EV scare following a massive fire caused by a Mercedes-Benz vehicle last week, according to sources Thursday. According to the sources, the Ministry of Land, Infrastructure and Transport is reviewing the measures for car manufacturers to include EV battery manufacturer details in vehicle specifications. Currently, EV manufacturers are required to provide information on vehicle

Social Affairs Aug. 8, 2024

The justice ministry on Thursday was scheduled to review beneficiaries of special presidential pardons to be granted on the occasion of Liberation Day next week, including a former South Gyeongsang governor and a former presidential secretary. President Yoon Suk Yeol will grant special pardons mostly to those convicted of livelihood-related crimes and others in commemoration of the Aug. 15 national holiday, the fifth round of such special pardons since his inauguration in 2022. The justice minis

Politics Aug. 8, 2024

SK earthon Co., a South Korean oil exploration and production (E&P) company, said Thursday it has joined a project to build a submarine carbon storage facility in Australia in its business diversification strategy. SK earthon invested in 20 percent of the project, with InCapture, an Australian carbon capture and storage (CCS) company, holding 75 percent and CCS technology consulting firm CarbonCQ holding 5 percent, the company said in a statement. The three companies will explore the G-15-AP

Industry Aug. 8, 2024

South Korean stocks started lower Thursday amid lingering fears about a US recession. The benchmark Korea Composite Stock Price Index lost 28.7 points, or 1.12 percent, to 2,539.71 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average fell 0.6 percent and the Nasdaq Composite dropped 1.05 percent as investors were still worried about a possible US recession and the sluggish performance of big tech companies. The Kospi has risen for two straight sessions after plunging n

Market Aug. 8, 2024

PARIS -- Unlike many other athletes, Park Tae-joon, freshly crowned an Olympic taekwondo champion in Paris on Wednesday, doesn't have pre-match rituals or superstitions. The 20-year-old instead likes to give himself a positive pep talk. Messages such as "I can do this," "I will get it done," or "This is going to be fun" will float through his mind as he prepares for matches. At Grand Palais in the French capital Wednesday night, Park spoke his first Olympic g

More Sports Aug. 8, 2024

Diving medal hopeful Woo Ha-ram qualified for his third straight Olympic final in the men's 3-meter springboard event Wednesday. Woo finished ninth among 18 divers in the semifinal with 432.00 points at the Aquatics Centre in Saint-Denis, north of Paris, as the top-dozen divers advanced to the final scheduled for Thursday. Fellow South Korean diver, Yi Jae-gyeong, will not join Woo in the final, after ranking 17th in the semifinal with 366.50 points. Woo finished fourth in the 3m springboar

More Sports Aug. 7, 2024

President Yoon Suk Yeol visited a major naval base in the southern part of the country this week as part of his summer vacation, his office said Wednesday. During the two-day visit to the naval base in Changwon, some 310 kilometers southeast of Seoul, Yoon spent time with service members, playing basketball with a group of Navy personnel and Marines on Wednesday, it said. On Tuesday night, Yoon had dinner with various service members at the base, including those who served during the sinking of

Politics Aug. 7, 2024

SAINT-DENIS, France -- High jump medal contender Woo Sang-hyeok cruised into the Paris Olympic final Wednesday, moving closer to grabbing South Korea's first medal in the event. Woo finished tied for third place with Mutaz Essa Barshim of Qatar, the defending co-gold medalist, at 2.27 meters in the qualification at Stade de France in Saint-Denis, north of Paris. The top 12 among 31 jumpers booked their spots in the final, scheduled for Saturday back at the main stadium. Woo cleared 2.15m, 2

More Sports Aug. 7, 2024

The Olympic badminton champion An Se-young insisted Wednesday she is not trying to pick fights with her national team or the sport's national federation, after she'd leveled criticism against them for archaic systems and inefficient operations. An returned home Wednesday evening from the Paris Olympics, where she captured the women's singles title for her first career gold medal. Moments after the crowning moment on Monday, An took shots at the national team staff for their poor h

More Sports Aug. 7, 2024

Prime Minister Han Duck-soo met the Philippines' top diplomat Wednesday and asked for Manila's support in efforts to send a stern message against North Korea's provocations, his office said. Han made the request during talks with Philippine Secretary of Foreign Affairs Enrique Manalo in Seoul in the wake of North Korea's launches of thousands of trash-carrying balloons across the inter-Korean border since late May. "In order to ensure that North Korea does not undertake

Foreign Affairs Aug. 7, 2024

Seoul shares ended higher for a second straight session Wednesday, helped by tech gains, as investors' sentiment for risky assets improved following a global stock rout. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 46.26 points, or 1.8 percent, to close at 2,568.41. Trade volume was moderate at 469.69 million shares worth 12.9 trillion won ($9.4 billion), with winners exceeding losers 727 to 176. The rebound comes in line with gains

Market Aug. 7, 2024

Celltrion Inc., a South Korean biopharmaceutical company, said Wednesday its second-quarter net profit plunged 48 percent from a year earlier due to costs following a merger with its sales and marketing affiliate last year. Its net profit came to 78.5 billion won ($57.1 million), compared with 150.9 billion won a year ago, the company said in a regulatory filing. Its operating profit also decreased 60.4 percent on-year to 72.5 billion won, but sales jumped 66.9 percent to 874.7 billion won. Desp

Economy Aug. 7, 2024