South Korea's top diplomat will visit Russia this week to discuss recent developments related to regional security and bilateral ties, Seoul's foreign ministry said Tuesday. Foreign Minister Chung Eui-yong plans to embark on a three-day trip to Moscow later in the day to meet with his Russian counterpart Sergey Lavrov and commemorate the 30th anniversary of the establishment of bilateral ties, the ministry said. They will hold a meeting on Wednesday to discuss a wide range of topics, includi

Foreign Affairs Oct. 26, 2021

Sales of imported commercial vehicles in South Korea rose 14 percent in September from a year earlier on recovering demand amid the extended coronavirus pandemic, an industry association said Tuesday. The number of newly registered imported commercial vehicles climbed to 412 units last month from 363 a year earlier, the Korea Automobile Importers and Distributors Association (KAIDA) said in a statement. Sales of all imported commercial vehicles increased last month on rising sales of MAN, Merc

Industry Oct. 26, 2021

South Korea and Cambodia officially signed a free trade agreement (FTA) Tuesday in a move to deepen their economic ties, Seoul's industry ministry said. Trade Minister Yeo Han-koo and his Cambodian counterpart, Pan Sorasak, officially signed the pact during a virtual ceremony earlier in the day, according to the Ministry of Trade, Industry and Energy. South Korea struck the deal with Cambodia in February this year and wrapped up domestic procedures, including parliamentary approval. Under the

Economy Oct. 26, 2021

Major South Korean credit card issuer Samsung Card Co. said Tuesday its net profit climbed nearly 9 percent in the third quarter of the year on a recovery in consumer spending. Consolidated net income stood at 139.5 billion won ($119.5 million) in the July-September period, up 8.9 percent from a year earlier, the company said in a regulatory filing. Operating profit swelled 11.5 percent on-year to 193.4 billion won, with sales soaring 21.8 percent to 940.3 billion won. The operating profit wa

Industry Oct. 26, 2021

South Korea's new COVID-19 cases stayed below 1,500 for the third consecutive day Tuesday, less than a week to go before the beginning of a gradual return to normal life with eased social distancing rules. The country added 1,266 more COVID-19 cases, including 1,246 local infections, raising the total caseload to 354,355, according to the Korea Disease Control and Prevention Agency (KDCA). The latest tally inched up from 1,190 new cases reported the previous day, though it remained under 1,500

Social Affairs Oct. 26, 2021

North Korea has conducted coronavirus tests on around 42,000 people but found no infections, a World Health Organization (WHO) report showed Tuesday. A total of 678 North Koreans underwent testing for the virus from Oct. 8-14, but all were found negative, according to the WHO's COVID-19 weekly situation report Of the newly tested North Koreans, 113 people had flu-like illness or acute respiratory infections, while the rest were healthcare workers, it said. The latest testing brings the total

North Korea Oct. 26, 2021

Having recently failed in their bid to win three major titles this year, South Korean football club Ulsan Hyundai FC will try to stay in the hunt for two trophies this week. Ulsan, currently in second place in the top-flight K League 1, will host the K League 2 club Jeonnam Dragons in the semifinals of the Korean FA Cup on Wednesday. The kickoff at Munsu Football Stadium in Ulsan, some 415 kilometers southeast of Seoul, is 7 p.m. The other semifinal contest, between Gangwon FC and Daegu FC, wi

Soccer Oct. 26, 2021

South Korean stocks opened higher Tuesday, tracking overnight gains on Wall Street that stemmed from expectations for strong corporate earnings. The benchmark Korea Composite Stock Price Index (Kospi) rose 14.33 points, or 0.47 percent, to 3,034.87 in the first 15 minutes of trading. Overnight, the tech-heavy Nasdaq composite added 0.9 percent, and the Dow Jones Industrial Average gained 0.18 percent. Market bellwether Samsung Electronics added 0.43 percent to 70,500 won, and No. 2 chipmaker

Market Oct. 26, 2021

SK hynix Inc., South Korea's No. 2 chipmaker, reported strong third-quarter earnings Tuesday on the back of solid memory chip demand and rising prices. Net profit for the three months that ended in September leaped by 205.7 percent from a year earlier to 3.31 trillion won ($2.8 billion). Operating profit came to 4.17 trillion won, the highest since the fourth quarter of 2018. Sales increased 45.2 percent to a record of 11.8 trillion won during the same period, marking the second consecutive qu

Industry Oct. 26, 2021

The value of derivatives-tied securities issued in South Korea plumbed a near eight-year low in the first half of the year amid the bullish run of major global stock markets, data showed Tuesday. The amount of equity-linked securities (ELS) and derivatives-linked securities (DLS) outstanding came to 80.2 trillion won ($68.5 billion) as of end-June, the lowest level since the end of 2013, according to the data from the Financial Supervisory Service. Those products are structured to track the pe

Economy Oct. 26, 2021

South Korea has concluded a free trade agreement with the Philippines in a move expected to bolster ties with the Southeast Asian nation and help diversify South Korea's trade portfolio, Seoul's trade ministry said Tuesday. Trade Minister Yeo Han-koo and his Filipino counterpart, Ramon Lopez, were to declare the conclusion of the bilateral Free Trade Agreement (FTA) and sign their joint statement during a virtual meeting set to be held in the day, according to the Ministry of Trade, Industry an

Economy Oct. 26, 2021

North Korean leader Kim Jong-un has said the North's close ties with China are "sealed in blood" and will further strengthen for generations as he marked the anniversary of China's participation in the 1950-53 Korean War, state media reported Tuesday. Kim sent a remembrance wreath to a cemetery of fallen Chinese soldiers in Hoechang, South Pyongan Province, on Monday on the occasion of the 71st anniversary of China's dispatching of troops to the three-year war, according to the Korea

North Korea Oct. 26, 2021

WASHINGTON -- The United States is strengthening restrictions for all inbound travelers, including US citizens who are not vaccinated against COVID-19, the White House said Monday. Starting from Nov. 8, all non-US citizens and non-immigrant visitors from outside of the country will be required to provide a proof of vaccination before heading for the US, according a proclamation signed by President Joe Biden. Those fully vaccinated, regardless of their citizenship, will continue to be required

Foreign Affairs Oct. 26, 2021

WASHINGTON -- China should help denuclearize North Korea if it wishes to see stability on the Korean Peninsula, a Pentagon spokesman said Monday. John Kirby also insisted that Beijing has a great amount of influence over Pyongyang that he said can be used to help the North make the right decision. "What I can tell you is that we know China has influence in Pyongyang and that influence could be important to helping us all achieve the denuclearization of the peninsula," the Department

Foreign Affairs Oct. 26, 2021

An arrest warrant has been sought for a sitting prosecutor accused of conspiring with the main opposition party to investigate key ruling camp officials last year when Prosecutor-General Yoon Seok-youl, now a leading opposition presidential contender, was in office. The Corruption Investigation Office for High-ranking Officials (CIO) said it sought the warrant over the weekend for Son Jun-sung, who served at the Supreme Public Prosecutors Office last year, as he has not cooperated with the inv

Politics Oct. 25, 2021