The top diplomats of South Korea and Saudi Arabia have agreed to boost cooperation to create synergy between the countries' key industrial policy initiatives aimed at securing future growth drivers. Foreign Minister Chung Eui-yong and his Saudi counterpart, Faisal bin Farhan Al Saud, shared the understanding during bilateral talks held on the sidelines of the UN General Assembly in New York on Thursday (local time). They, in particular, agreed to work on ways that would link Korea's Green Ne

Foreign Affairs Sept. 24, 2021

WASHINGTON -- The United States is open to engaging with North Korea in confidence building initiatives that may include humanitarian assistance, a senior US diplomat said Thursday. Mark Lambert, deputy assistant secretary of state for Japan and South Korea, also reiterated the US will go "anywhere" to talk with North Korea. "We've made it very clear to Pyongyang. We will go anywhere. We will talk to the North Koreans anywhere. There are no strings attached. But unfortunately, t

Foreign Affairs Sept. 24, 2021

Daily coronavirus cases in Seoul topped 900 for the first time in the wake of the Chuseok holiday, health authorities said Friday. The Korea Disease Control and Prevention Agency (KDCA) said 907 new COVID-19 cases were confirmed during the 24 hours before midnight. Of them, 903 were local infections and four were imported cases. The number is far higher than the city's previous record high of 808 cases, which was set on Sept. 14. The total caseload reached 94,728 in the capital, with a popul

Social Affairs Sept. 24, 2021

Six Army soldiers and three Marines have tested positive for the new coronavirus, raising the total caseload reported among the military population to 1,723, the defense ministry said Friday. The three Marines in Gimpo, west of Seoul, were confirmed to have contracted COVID-19 after an infection was reported at their base, according to the ministry. Among the Army soldiers, five -- one from the eastern county of Inje, two from the western city of Incheon and one each from Paju, north of Seoul,

Defense Sept. 24, 2021

South Korea plans to allow delivery workers and designated drivers to receive benefits from the employment insurance system starting next year as the government seeks to expand the labor safety net, a senior government official said Friday. It is part of the government's plan to expand the employment insurance scheme to all working people as the COVID-19 pandemic has taken a toll on the job market. The government plans to enable some platform workers, including delivery workers and designated

Economy Sept. 24, 2021

South Korea said Friday it will refrain from injecting public funds into overseas coal projects starting in October, in line with the global initiatives to gradually phase out traditional energy sources and go carbon neutral by 2050. Under the new guideline to be implemented next month, all public organizations will no longer disburse funds to overseas coal power plants, while private businesses in which the government has a stake will also be induced to follow the measure, according to the Min

Economy Sept. 24, 2021

Veterans Affairs Minister Hwang Ki-chul left for Britain on Friday for events to mark the 70th anniversary of a Korean War battle and remember the sacrifices made by the British soldiers during the conflict, his office said. The trip was arranged on the occasion of the 70th anniversary of the Battle of the Imjin River on April 22-25, 1951, during which the 29th British Infantry Brigade headed off the invasion of three Chinese infantry divisions into Seoul. During the five-day visit, Hwang will

Defense Sept. 24, 2021

North Korea on Friday accused Japan's outgoing Prime Minister Yoshihide Suga of pursuing a "hostile policy" toward the North, warning the country's next leader against following in his footsteps. In a post written by an individual researcher on Japan on its website, the North's foreign ministry said that Suga, along with his predecessor Shinzo Abe, should be entirely blamed for causing the relations between Pyongyang and Tokyo to fall to the "worst status ever." "Suga

North Korea Sept. 24, 2021

Samsung Electronics Co. is reinforcing its supply chain in Asia to meet increased demand of its products amid the pandemic, industry insiders said Friday, as the South Korean tech giant eyes to build more plants and expand its workforce. Samsung is currently building a TV manufacturing plant in Karachi, Pakistan. It is expected to be in operation in the fourth quarter of the year and produce 50,000 units annually. The news was recently revealed by Abdul Razak Dawood, adviser for commerce and

Industry Sept. 24, 2021

K-pop superstars BTS returned home Friday after a weeklong trip to New York as special presidential envoys for future generations and culture, their label said. During the week, the septet gave a speech at the opening of the Sustainable Development Goals Moment event at the 76th UN General Assembly, and joined President Moon Jae-in and first lady Kim Jung-sook during interviews and a visit to the Metropolitan Museum of Art. BTS also dropped by the Korean Cultural Center in New York, according

K-pop Sept. 24, 2021

South Korea's daily coronavirus cases reached an all-time high of 2,434 on Friday, breaking the previous record of 2,221 on Aug. 10, as mass migrations during the Chuseok holiday caused the rapid spread of the virus across the country. Health authorities had expected the surge in daily virus cases after millions of South Koreans travelled to their hometowns during Chuseok, the Korean equivalent of Thanksgiving, which ran from Monday to Wednesday. The authorities said confirmed cases may furthe

Social Affairs Sept. 24, 2021

South Korean stocks opened higher Friday on overnight US rebound that stemmed from easing fears over China Evergrande Group's debt crisis. The benchmark Korea Composite Stock Price Index (KOSPI) rose 11.37 points, or 0.36 percent, to 3,138.95 points in the first 15 minutes of trading. Stocks came off to a solid start as investors are monitoring the risks from the massive $310 billion debt of China's Evergrande Group. Market fears eased somewhat after the giant property developer announced t

Market Sept. 24, 2021

The US military in South Korea conducted a surgical strike drill simulating targeted attacks on major North Korean facilities, officials said Friday, amid tensions on the Korean Peninsula over the North's missiles launches. The Exercise Teak Knife was conducted at Camp Humphreys in Pyeongtaek, 70 kilometers south of Seoul, on Sept. 13, which provided opportunities for US special tactics airmen "to practice skillsets used in special operations across the Indo-Pacific," the US Special O

Defense Sept. 24, 2021

South Korea and the United Arab Emirates have held bilateral working-level talks in Abu Dhabi on ways to promote atomic energy cooperation, the foreign ministry said Friday.  Park Il, the ministry's director general for nonproliferation and nuclear affairs, and Nasser Al Nasseri, the CEO of Barakah One Company, met in the UAE capital on Thursday (local time), as they seek to hold a new session of the two countries' high-level talks on nuclear energy cooperation. "The two sides share

Foreign Affairs Sept. 24, 2021

South Korea's corporate direct financing fell 7.9 percent on month in August due to a decline in sales of bonds, data showed Friday. Local companies raised a combined 19.35 trillion won ($16.4 billion) by selling stocks and bonds in August, down 1.66 trillion won from a month ago, according to the data from the Financial Supervisory Service (FSS). Corporate stock sales rose 10.3 percent to 4.05 trillion won, with the value of initial public offerings jumping 27.4 percent to 4 trillion won.

Economy Sept. 24, 2021