Republican flag-bearer Donald Trump won the US presidential election on Wednesday, the Associated Press reported, amid expectations that his victory could reorient America's approach to the alliance with South Korea, North Korea's military threats, trade and other key foreign policy issues. Former President Trump crossed the Electoral College threshold of 270 votes as he clinched victories in key battleground states, including Pennsylvania, Georgia and North Carolina, in the general election sho

Politics Nov. 6, 2024

The South Korean won dipped to a two-year low against the US dollar Wednesday on increased bets on Republican nominee Donald Trump's victory in the US presidential election. Korean stocks ended lower for the second consecutive day. The local currency was trading at 1,396.2 won against the greenback at 3:30 p.m., down 17.6 won from the previous session, the lowest since November 7, 2022, when the rate closed at 1,401.20. Investors rushed to buy US dollars as Trump's victory heralds an i

Market Nov. 6, 2024

Democratic presidential candidate Kamala Harris and her Republican rival Donald Trump secured anticipated wins in states favoring their respective parties on Tuesday, as political attention gravitates to key battleground states that will likely decide the outcome of this year's general election. With vote counting under way, Harris won New Jersey, New York, Illinois, Delaware and other Democratic-leaning states, while Trump clinched victories in Florida, Alabama, Mississippi, Texas, Ohio and oth

World News Nov. 6, 2024

SK Telecom Co., South Korea's leading mobile carrier, said Wednesday its third-quarter net profit decreased 9.1 percent from a year earlier due to an increase in non-operating costs. Net profit for the July-September period came to 280.2 billion won ($202.1 million), down 9.1 percent from a year ago, the company said in a regulatory filing. Its operating profit rose 7.1 percent on-year to 533.3 billion won, while sales increased 2.9 percent to 4.53 trillion won. The company said its net pro

Industry Nov. 6, 2024

South Korea's central bank said Wednesday it will test the feasibility of a digital voucher based on a tokenized deposit as part of its trial to introduce a wholesale central bank digital currency (CBDC). Along with the Financial Services Commission, the Ministry of Science and ICT, and the Bank of Korea will test the feasibility of a tokenized deposit-based voucher program for use on smartphones via a digital voucher management platform, which can be available for culture, education and ot

Economy Nov. 6, 2024

The season's first frost was observed in Seoul, Daejeon and other parts of the country on Wednesday, up to 16 days later than previous years, the state weather agency said. The first frost was observed in Seoul and Suwon, south of the capital, nine days later than in the average year but two days earlier than last year, the Korea Meteorological Administration said. The central cities of Daejeon and Cheongju also witnessed the first frost this fall, 16 days later and two days earlier than la

Social Affairs Nov. 6, 2024

South Korean stocks kicked off higher Wednesday tracking an overnight tech rally on Wall Street. The benchmark Korea Composite Stock Price Index rose 9.64 points, or 0.37 percent, to 2,586.52 in the first 15 minutes of trading. Overnight, major US indexes gained ground as a report on the services industries shows that the US economy is still strong. The Dow Jones Industrial Average advanced 1.02 percent, the tech-heavy Nasdaq Composite increased 1.43 percent, and the S&P 500 went up 1.23 per

Market Nov. 6, 2024

Ukrainian President Volodymyr Zelenskyy has confirmed the Ukrainian military's first combat engagement with North Korean troops, saying it opened a new chapter of instability in the world. Zelenskyy, in a video address posted on the Ukrainian president's official website Tuesday, said, "The first battles with North Korean soldiers open a new page of instability in the world." "I want to thank everyone in the world who reacted to the deployment of North Korean soldiers in

Foreign Affairs Nov. 6, 2024

MOSCOW (Yonhap) -- Russian Deputy Foreign Minister Andrey Rudenko said Tuesday that North Korea's missile tests were "legitimate" defensive measures in response to what he described as the United States' "provocations," Russia's state-run news agency reported. Rudenko reiterated the stance of Russia's Permanent Representative to the UN, Vasily Nebenzya, who has defended North Korea's ballistic missile activities, which are prohibited under UN Security

North Korea Nov. 5, 2024

KT Corp., a major South Korean mobile carrier, said Tuesday it will cancel 1 trillion won ($726 million) worth of treasury shares by 2028 as part of its efforts to enhance its corporate value. Under the "value-up program," KT will focus on improving profitability and evolving into a comprehensive artificial intelligence and information technology company, the company said in a statement. KT aims to achieve a 9 to 10 percent return on equity by 2028 by restructuring low-growth businesse

Companies Nov. 5, 2024

President Yoon Suk Yeol said Tuesday the defense industry cooperation between South Korea and Saudi Arabia will play a pivotal role in advancing the two countries' relations in a broad range of fields. Yoon called the oil-rich country a "key partner" for South Korea's economy and energy security during a meeting with Abdullah bin Bandar Al Saud, Saudi minister of the National Guard, at the presidential office. "The defense collaboration between the two countries would no

Defense Nov. 5, 2024

South Korean stocks ended lower for the second day Tuesday as investors treaded water ahead of the US presidential election. The local currency sharply lost ground against the US dollar. The benchmark Korea Composite Stock Price Index fell 12.09 points, or 0.47 percent, to close at 2,576.88. Trade volume was slim at 306.1 million shares worth 7.6 trillion won ($5.5 billion), with winners outpacing losers 514 to 356. Individual investors purchased a net 388.9 billion won worth of local stocks, wh

Market Nov. 5, 2024

Democratic presidential candidate Kamala Harris and her Republican rival Donald Trump made their final pitch to court undecided voters and "get out the vote" on Monday, a day before the high-stakes general election that could reshape America's policy on its alliances, the economy, trade, and other key issues. Vice President Harris and former President Trump held a series of final campaign events, particularly in Philadelphia, Pennsylvania, which is seen as a must-win battleground

World News Nov. 5, 2024

South Korean stocks kicked off lower Tuesday as investors were cautious ahead of the US presidential election. The benchmark Korea Composite Stock Price Index fell 18.47 points, or 0.71 percent, to 2,570.5 in the first 15 minutes of trading. Overnight, Wall Street closed lower as investors treaded water ahead of the US presidential election Tuesday (US time), where former President Donald Trump and Vice President Kamala Harris are neck and neck in the polls. Investors' eyes are also on the

Market Nov. 5, 2024

Russian President Vladimir Putin has met North Korean Foreign Minister Choe Son-hui at the Kremlin in Moscow, TASS reported, amid growing concerns over Pyongyang's troop deployment to Russia to support its war in Ukraine. Presidential press secretary Dmitry Peskov said that Putin received Choe in the presidential complex as Pyongyang's top diplomat was on a working visit to Russia, according to Russia's state-owned news agency on Monday. Choe conveyed North Korean leader Kim Jong-

Foreign Affairs Nov. 5, 2024