Foreign investors unloaded about 500 billion won ($436 million) worth of South Korean stocks in June to remain net sellers for the second consecutive month, data showed Monday. Offshore investors' net selling of local stocks came to 499 billion won last month, according to the data from the Financial Supervisory Service. As of end-June, foreign investors held 842.3 trillion won worth of local listed stocks, accounting for 29.9 percent of the stock market capitalization. The data also showed f

Economy July 12, 2021

North Korea's foreign ministry on Monday accused the United States of using humanitarian aid as a political tool for interfering in internal affairs and taking issue with human rights. Kang Hyon-chol, a senior researcher at the Association for the Promotion of International Economic and Technological Exchange, made the case in an article published on the website of the North's foreign ministry. "In actual practice, many countries have undergone bitter tastes as a result of pinning much ho

North Korea July 12, 2021

The ruling Democratic Party (DP) on Sunday narrowed its lineup of presidential contenders down to six in the first round of the party primary to pick its candidate in next year's presidential election. The DP declared Gyeonggi Gov. Lee Jae-myung, ex-DP chief Lee Nak-yon, ex-Prime Minister Chung Sye-kyun, ex-Justice Minister Choo Mi-ae and two others as the six final winners of the first-stage presidential primary. The results are based on opinion polls conducted from Friday-Sunday on party

Politics July 11, 2021

The presidential office Cheong Wa Dae reiterated Sunday that the decision on President Moon Jae-in's potential attendance at the opening ceremony of the upcoming Tokyo Olympic Games depends on whether the visit would guarantee a fruitful summit meeting between the two countries' leaders. Cheong Wa Dae has left the door open for Moon's possible attendance at the opening ceremony set for July 23 and a summit meeting between Moon and Prime Minister Yoshihide Suga on that occasion. The possibil

Foreign Affairs July 11, 2021

New orders won by South Korean shipbuilders hit a 13-year high in the first half of the year amid signs of a modest recovery in global trade from the COVID-19 pandemic, data showed Sunday. Korean shipbuilders led by Hyundai Heavy Industries Co. won new orders worth $26.7 billion that amounted to 10.88 million compensated gross tons (CGTs) in the January-June, according to the data provided by the Ministry of Trade, Industry and Energy. Compared with a year ago, new orders skyrocketed 724 per

Economy July 11, 2021

South Korean manufacturers' business sentiment soared to a two-year high, largely buoyed by optimism about a fast rebound of the tech industry, data showed Sunday. The business survey index (BSI), compiled based on a survey of 1,034 manufacturers, showed an overall market forecast of 97 for the April-June period, the Korea Institute for Industrial Economics and Trade (KIET) said. The corresponding number for sales stood at 100. A BSI larger than 100 means that optimists outnumber pessimists.

Economy July 11, 2021

"Permission to Dance" by South Korean superband BTS snatched the No. 2 spot on Spotify's Global Top 200 chart, the global streaming giant said Sunday. The upbeat number was streamed 7,339,385 times on Spotify on the day of its release Friday, the streaming service said. The song was only second to "Beggin'" by Italian rock band Maneskin, the winner of the Eurovision Song Contest this year. "Permission to Dance" also came in first on 13 regional top 200 charts

K-pop July 11, 2021

A Seoul court will this week begin trials for Yang Hyun-suk, former CEO of K-pop powerhouse YG Entertainment, on charges of attempting to cover up a drug scandal involving a singer-rapper, judicial officials said Sunday. According to the officials, the Seoul Central District Court is to hold its first hearing Friday for Yang, who was indicted last month for having threatened and coerced an informant who testified to police about drug suspicions surrounding B.I, the former songwriting leader of

Social Affairs July 11, 2021

The South Korean club Jeonbuk Hyundai Motors have extended their undefeated streak to six matches at the Asian Football Confederation (AFC) Champions League, while also helping another team from the country join them in the knockout stage. Jeonbuk defeated Gamba Osaka 2-1 in their final Group H match played at Bunyodkor Stadium in Tashkent on Saturday (local time). Gustavo and Mo Barrow had a goal apiece for Jeonbuk, which won their group with 16 points from five wins and a draw. And Gamba Os

Soccer July 11, 2021

The South Korean passport was found to be the third most effective one for travelers around the world, allowing its bearers to travel to 191 countries visa-free, data showed Sunday. Asia's fourth-largest economy and Germany tied for third, only after Japan and Singapore, in the latest edition of the Henley Passport Index. The Japanese passport provides visa-free travel to 193 countries and Singapore to 192 countries. The index released by immigration consulting firm Henley & Partners Co

Foreign Affairs July 11, 2021

The South Korean professional baseball league held an emergency meeting with club executives Sunday to discuss a possible suspension of the ongoing season, with another round of talks with higher-ranking officials set for Monday, in light of multiple coronavirus cases involving two clubs. The Korea Baseball Organization (KBO) said Sunday it met with general managers of the 10 clubs earlier in the day to go over COVID-19 protocols and league operations. Then on Monday, the designated off day acr

Baseball July 11, 2021

South Korea's daily new COVID-19 cases rose above 1,300 for the third straight day Sunday, as health authorities were set to impose the toughest virus curbs in the greater Seoul area to bring the fourth wave of the outbreak under control. The country recorded 1,324 more COVID-19 cases, including 1,280 local infections, raising the total caseload to 168,046, the Korea Disease Control and Prevention Agency (KDCA) said. It is the first time that the nation's daily infections have risen above 1,30

Social Affairs July 11, 2021

North Korean leader Kim Jong-un and Chinese President Xi Jinping highlighted their commitment to further strengthen relations between the two countries as they exchanged messages to mark the 60th anniversary of signing a friendship treaty, state media reported Sunday. In the messages to celebrate the 1961 signing of the "DPRK-China Treaty of Friendship, Cooperation and Mutual Assistance," Kim also said the international situation has been "unprecedentedly complicated" in rec

North Korea July 11, 2021

SsangYong Motor, a debt-ridden automaker, decided to sell the site of its plant in Pyeongtaek as part of self-rescue efforts, the local government said Saturday.    The company has been under court receivership since April, as its Indian parent, Mahindra & Mahindra, failed to secure a buyer for its 75 percent stake in the automaker.    The city government of Pyeongtaek, 70 kilometers south of Seoul, said it has signed a memorandum of understanding with the court-appoin

Mobility July 10, 2021

Three South Korean baseball games scheduled for Saturday were canceled, following three additional cases of the novel coronavirus on two clubs.    The Korea Baseball Organization (KBO) said Saturday two members of the Doosan Bears and one player from the NC Dinos have tested positive for COVID-19. The Bears' home game against the LG Twins at Jamsil Baseball Stadium in Seoul has been canceled, along with the Dinos' road game against the Kiwoom Heroes at Gocheok Sky Dome in the nation'

Baseball July 10, 2021